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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 2021-09-03] BTC Price: 50025.38, BTC RSI: 62.25 Gold Price: 1830.90, Gold RSI: 61.76 Oil Price: 69.29, Oil RSI: 52.55 [Random Sample of News (last 60 days)] How Troika Media Group (Nasdaq: TRKA) Helps Brands Expand Marketing and Revenue Using Non-Fungible Tokens: Photo by Executium on Unsplash The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Even if you’re not an active investor in the market, chances are you know about Bitcoin (BTC) and you might know about a couple of other cryptocurrencies. But you might not know that cryptocurrencies are not the only digital assets you can own on the blockchain, which is a database record of all digital transactions. In addition to cryptocurrencies, there are non-fungible tokens (NFTs) that you can collect, hold and sell. Before you explore and invest in crypto, you need to understand these unique assets and why they’re gaining popularity among investors. Diving into NFTs? Think of NFTs as the modern-day mint condition rookie baseball card. The unique token is a code that serves as a certificate of authenticity representing a piece of art. It can be art, music, video clips, memes or anything else that’s one of a kind. For instance, a clip of LeBron James dunking a basketball sold for over $200,000 as an NFT last year. But this digital asset doesn’t have to represent a famous painting or a historic Lakers dunk — anyone can make and sell an NFT on the blockchain. In fact, the asset is gaining popularity in the fashion, gaming and entertainment industries as well. Businesses can produce and use NFTs to build a brand and advertise to potential customers, creating a buzz for their products and generate new revenue streams. Knowing how to create an NFT, developing a marketing plan and understanding how brands can best leverage this new business opportunity requires a well designed strategy and plan. NFTs and the Troika Team Businesses today need to connect with customers in a highly competitive and often global market, so it’s important to stand out among the pack. One way to do that is to enlist the help of a company that understands emerging technology and knows how to use creativity to engage with clients. Troika Media Group (TMG) is a complete brand solutions company that helps bring brand equity to such clients as Apple (NASDAQ: AAPL ), Hulu, CNN, Tiffany & Co (NYSE: TIF ), Netflix ( NASDAQ: NFLX) and Coca-Cola (NYSE: KO ). Story continues Troika worked with Dole (NYSE: DOLE ) to launch an NFT to bring awareness to world hunger. The initiative not only put a spotlight on an important global issue, but the NFT helped to build brand awareness for Dole. With this experience, Troika has a new medium to serve businesses and tell their stories to encourage audience interaction and interest for different brands and products.TMG made two strategic moves recently to support its vision of utilizing transformative technology to create additional revenue opportunities and position the Company as a go-to expert in the NFT and crypto space, particularly in its sports, gaming, and entertainment business, where they plan to provide brands new opportunities to foster fandom through NFT integration. TMG created Troika Labs, led by Gregg Lester, a marketing innovations group that leverages the power of data, merging technology with engaging content and compelling experiences to reach consumers, audiences and fans. In May, TMG acquired Redeem, a fintech platform that empowers businesses to digitize any asset and build their own blockchain-based payment solutions. Redeeem is led by founder and CEO Kyle Hill who brings 5+ years of experience in blockchain and 15+ years of experience in tech startups. Building on Redeeem’s digital blockchain capabilities, TMG intends to integrate their products across its media services and will work with new and existing brands to offer NFT capabilities, crypto payment APIs, mobile payment expertise, and other revenue-generating products capable of deploying digital tokens throughout TMG's expansive network of brands. How NFTs can Help Your Brand Imagine delivering a unique experience for your customers through an innovative NFT that draws attention to your company. It’s a great way to create an enthusiastic buzz around products and events beforehand, so your audience is excited about your launch. If you could support your favorite cause while bringing in loyal customers or tell your unique story through a collectible asset, it could do wonders for your marketing program. Plus, your NFTs can earn money themselves as their values increase and trade over time. Adding a digital edge to your brand building might be just the thing your company needs to shine. The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice. © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Crude Oil Price Forecast – Crude Oil Markets Pull Back: WTI Crude Oil The West Texas Intermediate Crude Oil market has fallen rather hard during the trading session on Monday to break down a bit and suggest that we may be getting “a little toppy.” With that being said, I do think the market has plenty of support underneath, especially near the $70 level and the 50 day EMA as well. All things being equal, this is a market that I think probably offers a bit of value in the short term before traders come back in and try to pick things up. With the PMI figures in China being just above expansion, and shrinking, it is likely that the market will continue to worry about whether or not the demand will continue. Crude Oil Video 03.08.21 Brent Brent markets have pulled back significantly during the course of the trading session as well, as we are likely to go looking towards the 50 day EMA underneath. With that being said, the market will continue to be very noisy, and I do think that there are plenty of buyers underneath at my get involved. The $70 level underneath would be significant support more likely than not, and as a result I think we continue to consolidate and go sideways more than anything else. On the other hand, if we can break out to a fresh, new high it is likely that the market will go looking towards the $80 level. I am looking for an opportunity to pick up value, but it may need to wait a couple of days as the market continues to be very volatile. 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: NCR Makes Crypto Push With Key Bitcoin ATM Deal EUR/USD Price Forecast – Euro Reaches Towards Death Cross Google To Ditch Qualcomm And Develop Its Own Smartphone Processors This Year EUR/USD Mid-Session Technical Analysis for August 2, 2021 Crude Oil Price Forecast – Crude Oil Markets Pull Back Silver Price Daily Forecast – Silver Retreats Despite Weaker Dollar And Lower Treasury Yields || GBP/JPY Price Forecast – British Pound Sitting at Fair Value Against Yen: TheBritish poundhas fallen slightly during the trading session on Monday, as we continue to dance around the ¥152.50 level, which is roughly halfway between the support level at ¥150 and the massive resistance barrier at the ¥155 level. Ultimately, this is a market that will continue to see a lot of back and forth mainly due to the fact that the “risk on/risk off” attitude of the markets and general. After all, the Japanese yen is considered to be a major safety currency, while the British pound represents the idea of economic expansion. Looking at this chart, I do not see it being able to break out of this 500 point range anytime soon, but it is worth noting that we are at least trying to turn things around by forming a “higher low” recently, and if we can break above the shooting star from the previous week, we could have the possibility of a move back towards the ¥155 level. The ¥155 level has been massive resistance multiple times in the past and it certainly will be difficult to break out of. If we were to break above the ¥155 level, then I would more likely than not look at this as a “buy-and-hold” type of situation. On the other hand, if we were to somehow break down below the ¥155 level, it could really send this market much lower. In the meantime, I think we just simply going to bounce around in this general vicinity. For a look at all of today’s economic events, check out oureconomic calendar. Thisarticlewas originally posted on FX Empire • USD/CAD Daily Forecast – Canadian Dollar Remains Under Pressure At The Start Of The Week • Natural Gas Price Forecast – Natural Gas Markets Pull Back to Kickoff Week • S&P 500 Price Forecast – Stock Markets Choppy to Kickoff Week • GBP/USD Price Forecast – British Pound Continues to Test Support Underneath • Bitcoin Price Resilient in the Face of Political Firestorm • USD/JPY Price Forecast – US Dollar Pulls Back Towards Same Big Figure || France Tests CBDC Flows With Singapore Using Automated Liquidity Pool: The Banque de France (BdF) has tested a cross-border central bank digital currency (CBDC) transaction with Singapore, marking the first use of a smart contract–based, automated liquidity pool for the digital EUR/SGD currency pair. The French central bank worked with the Monetary Authority of Singapore for the experiment, one of the last in the bank’s wholesale CBDC sandbox program that finishes this autumn. It was executed using a permissioned version of Ethereum called Quorum, developed by JPMorgan. In the context of wholesale – or bank-to-bank – CBDC transactions, cross-border payments without slow and costly intermediation is something of a Holy Grail. Cutting down on middlemen lessened the number of contractual arrangements and the Know Your Customer burden, Banque de France said. Related: Kraken Casts More Doubt on JPMorgan Call Over Grayscale Bitcoin Trust ‘Unlocks’ JPMorgan’s blockchain-based Onyx suite of applications, which includes JPM coin, uses a system of automated digital contracts of the sort that have made areas like decentralized finance (DeFi) explode in the public arena. The CBDC automated liquidity pool and market-making service for EUR/SGD currency pairs could be scaled up to support the participation of multiple central banks and commercial banks in different jurisdictions, BdF said. The use of smart contracts automatically managed the EUR/SGD exchange rate in line with real-time market transactions and demands, it said. Related Stories Jamaica’s Central Bank to Start CBDC Pilot With Financial Institutions in August Reserve Bank of New Zealand to Consult on Potential CBDC Bank of France Carries Out Fifth CBDC Experiment With BNP Paribas, Euroclear || DeFiScale Announces that It Will Launch ShadowBit: VICTORIA, Seychelles, Aug. 25, 2021 (GLOBE NEWSWIRE) -- ShadowBit, a blockchain gaming operator, is announcing its launch scheduled for September 2021. ShadowBit belongs to the DeFiScale investment pool. In the first quarter of this year the project completed the first sale of SBC token, the second sale is close to completion now. SBC will be added to Uniswap and Pancake Swap listing on Aug 31. The project started in Q1 of 2021 in order to enter online gaming, which is one of the fastest growing industries. It is forecasted to grow at an annual rate of 11.5% for the next couple of years, reaching the value of 127.3 billion dollars by 2027. ShadowBit founders have planned the beginning of its operation in the period of dynamic growth of the share of cryptocurrency in the gaming volumes. According to the report of SoftSwiss, one of the technology leaders in the gaming industry, the share of cryptocurrency in online gaming rose from 6% in Q1 2020 to 26% in Q1 2021. SoftSwiss is also a provider of technology and game aggregator for ShadowBit. The new crypto gaming platform will initially offer several hundred games on its platform. The games come from regulated, leading games providers such as BGaming, Ezugi, Evolution, Playtech, or NetEnt. In the next quarters new sets of games will be added to the platform. Despite being primarily a crypto operation, ShadowBit will also accept deposit payments in EUR, USD, GBP, JPY, AUD, SEK, and more. ShadowBit will operate within a Curaçao gaming licence and both the games and FIAT payment services are provided by licensed operators. The accepted cryptocurrencies include BTC, BCH, ETH, LTC, DOG, USDT. In upcoming months ShadowBit will announce the utility functions of the SBC token. DeFiScale is an innovative decentralized investment pool - it offers its users multiple staking opportunities with daily fixed rewards, and generates profits by investing in selected gaming and financial projects. Ownership of DFC token allows participation in the success of this venture. Social Links Telegram:https://t.me/dfcofficialgroup Facebook:https://www.facebook.com/DeFiScale1 Twitter:https://twitter.com/DeFiScale1 Instagram:https://www.instagram.com/defiscale/ Media Contact Company: DeFiScale Contact: Media Team Email:[email protected] Website:https://defiscale.io/ SOURCE:DeFiScale || Nodes on Bitcoin’s Lightning Network Double in 3 Months: The Lightning Network recorded its quickest 100 bitcoin capacity growth ever at only five days. This month alone, the network capacity has increased 20% to 1,821.29 BTC locked in across more than 56,000 channels. As it is right now, the Bitcoin network can process up to seven transactions per second. This throughput would need to increase by magnitudes in the thousands or even millions in order to host the global economy, mostly due to the fact that any blocks written above 1 megabyte are invalid on the current Bitcoin mainnet. Although many have proposed a change to this limitation, increasing the number of transactions in a single block would mean the blockchain size would grow too quickly for modern storage tech, leaving behind casual node operators. Related: Google Searches for ‘Bitcoin Price’ Reach 7-Month Low Since then, many have complained about Bitcoin’s ability to scale. Comparisons to transaction processing networks like Visa and PayPal are often against the network. But Bitcoin is a base layer solution while networks like Visa and PayPal are built on the third or fourth layer of the fiat currency system, with transactions not truly being final for weeks on end. However, with the introduction of the Lightning Network in March 2018, the Bitcoin scalability narrative has changed completely. What is the Lightning Network? Like Bitcoin, the Lightning Network is a network of nodes that work together peer to peer. The purpose of the Lightning Network is to facilitate secure, anti-double spending transactions on its separate “second layer” before finally settling them on the Bitcoin blockchain. The first step in any transaction on the Lightning Network begins with a channel. A channel connects two nodes and allows them to pass information, or in this case bitcoins, to each other. Channels in the Lightning Network are built using multisignature (multisig) addresses with which both parties may interact. Related: Bitcoin Under Pressure, Faces Support at $30K These addresses allow both users to pool in (or send) as many bitcoins to the address as they want, but funds can only be extracted from this shared address given both parties agree. Think of it like a piggy bank with distinct key holes. The Lightning Network uses multisig addresses. These addresses integrate a “timer” into the address as part of the script. That way, if one party goes offline or refuses to transact when the other party has funds in the address, the funds can be returned to their original user after a certain amount of time. Story continues In the Lightning Network, you don’t have to set up a channel with everyone you transact with. In fact, that would be very costly as these channels must be funded to set up initially. The network utilizes onion routing from Tor, an anonymous communication network. Onion routing allows nodes to send transactions through each other while simultaneously keeping the bitcoins encrypted until they reach their final destination or “target node.” Then, all of the transactions that pass through a channel are rewritten into a single transaction and settled on the Bitcoin network. All in all, the first variations of the Lightning Network can make up to 25 million transactions in a single second and settle it on the Bitcoin blockchain as one transaction. Development on Lightning The beginning of the history of the Lightning Network’s development has been slow, steady and cautious – like anything else that promises to be a major step forward for Bitcoin. As other coins and chains touted “faster, cheaper transactions,” many bitcoiners were becoming increasingly impatient for Lightning to be ready for prime time. Even now it’s not quite there, and developers caution users that it’s still in early stages of development. But that’s not to say that the Lightning Network isn’t functional. Indeed, it’s becoming more and more useful every day. “It’s no longer just the future. Lightning is here.” Elizabeth Stark, CEO of Lightning Labs There are several implementations of Lightning being developed by different teams, all working toward the same goal: making Lightning more stable, secure, efficient, private and easy to use. For example, Blockstream is the force behind to the c-Lightning implementation, which focuses on extendibility, while Lightning Labs is devoted to developing IND, the most widely used implementation at this point. Development has allowed the onboarding of more users and node operators. More and more Lightning wallets are springing up, both custodial and non-custodial, with varying degrees of user-friendly interfaces that allow for quick, secure and seamless transactions. Oleg Mikhalsky is a partner at Fulgur Ventures, a firm which specializes in researching and investing in Lightning-focused projects. He credits some of the rapid growth of nodes to the advent of “easy-to-use infrastructure” that makes running nodes more user-friendly for the less-techy crowd. For example, there is a plethora of tutorials and videos that will help new users set up DIY nodes . Alternatively, enthusiasts can simply buy an out-of-the-box, plug-and-play setup like a Nodl. At least seven major crypto exchanges and trading desks, including OKEx , Okcoin , Bitfinex and River Financial have integrated Lightning into their platforms, with the Kraken exchange’s integration in the works for this year. Okcoin also reiterated its dedication to the project by giving a developer grant to Lightning dev Antoine Riard. CEO Hong Fang said the exchange will likely put money into research and new user onboarding for the Lightning Network in the future. Lightning wallet developers have been on the receiving end of several development grants lately, including $25,000 from The Human Rights Foundation to each of the Breez and Sphinx Lightning wallet teams. Growing Lightning adoption Although still in its early days, the network often reports promising interactions. In April, it reached a milestone of 10,000 nodes and had just over 45,000 payment channels holding 1,158 BTC. Since then, network capacity has ballooned to 1,821.29 BTC locked in channels, adding a 20% increase this month alone. The number of nodes more than doubled to 22,781 while the number of channels jumped to 56,103. For context, it took nearly a year for the number of nodes to double last time from 5,000 to 10,000. This growth can be attributed, in part, to the recent news of bitcoin’s adoption in El Salvador as legal tender. With more Salvadorans having access to bitcoin, faster and simpler transactions needed to be implemented. As Elizabeth Stark, Lightning Labs’ CEO said : “The end user shouldn’t have to know about channels.” Strike , a Bitcoin transaction processing company led by Jack Mallers, uses the Lightning Network for its mobile application, which is seeing rapid adoption in places like El Salvador due to its user compatibility and quick transaction times. Mikhalsky noted that “with onchain fees going up with bitcoin appreciation cycle, it’s becoming an imperative to use Lightning as a low cost alternative to transfer smaller amounts of bitcoin.” This use case is now being put to the test in areas like Bitcoin Beach and across El Salvador. Another factor that could be motivating some users is the ability to earn yield from contributing liquidity to the network. Lightning Lab’s liquidity marketplace, Lightning Pool , launched in 2020, allows users to lease liquidity on payment channels. This allows new channels to be opened up to users who do not have any connections to the network to begin with for much cheaper, effectively spreading out costs amongst volunteering network participants. Volunteers earn BTC rewards in return. Mikhalsky added, “Taking into account potential network effects, we can say that this is only the beginning and we will definitely see more use cases that will further drive adoption.” Related Stories Bitcoin Little Changed Amid Uncertainty in Release of Grayscale Shares Another Bitcoin Investor Sues T-Mobile Over Sim Swap Attack View comments || Why Former Veteran NYSE Floor Trader Bought Shares of NVIDIA, Alibaba and Facebook on Monday: Veteran trader David Green was back live trading on Benzinga Monday morning , and the long-time trader made some moves in some big-name stocks such as NVIDIA Corporation (NASDAQ: NVDA ), Facebook Inc (NASDAQ: FB ) and Alibaba Group Holding Ltd (NYSE: BABA ). NVIDIA’s stock opened up at $210.50 a share. The stock quickly rose to nearly $216 in the first 45 minutes of trading. Someone in Green’s private trading room asked him what he thought about shorting the stock after it rose so quickly. “NVIDIA is a better buy,” Green said. “Let’s get a bid out in NVIDIA. I’d rather make money than trying to make a few bucks trying to short one of these stocks.” Live Trading With David Green is a morning trading show in which David live trades the open on Benzinga. The show airs Monday-Wednesday at 9:25 am ET on BenzingaTV. Stocks Discussed On The Show Facebook opened down slightly from Friday’s close, just under $360 a share. The stock quickly rose up to the $364 level, and Green pointed out the strength in the stock. Green put out orders to buy Facebook at $361.70. Alibaba’s stock opened up from Friday’s close at $159 a share, and then quickly dropped down to near the $153 level. Green pointed out the weakness in Alibaba’s chart, but that it could be a good trade if the stock showed signs of reversal. Green put an order out to buy 100 shares of Alibaba at $152. Green mostly executes quick day trades, both on the long and short side. When a stock hits one of his pivot points he initiates a buy order with a tight stop loss. Watch the full episode in the clip below, or click here to watch . About The Show: Benzinga’s Wall Street Global Trading Academy follows Wall Street Veteran David Green as he live trades at the market open breaks down what he is trading today. The show streams live Monday-Wednesday at 9:25 am ET on Benzinga's Youtube , Twitter , and Twitch . Story continues About The Host David Green is a 30-year veteran of Wall Street, including 13 years as a specialist on the floor of the New York Stock Exchange. Since retiring from the floor, Green spends his time helping retail traders. Green built a full-fledged trading course, Wallstreet Global Trading Academy, with fellow floor trader Peter Tuchman. To learn more about the course, click here or follow it on Facebook . See more from Benzinga Click here for options trades from Benzinga Cade Cunningham Signs Endorsement Deal With BlockFi, Takes Signing Bonus In Bitcoin This Shoe Store Company Has A Better One-Year Return Than Amazon, Apple, Disney, Microsoft, Netflix, PayPal and Tesla © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || EcoChain to Benefit from China's "Great Unplugging" from Crypto: New York, New York--(Newsfile Corp. - July 28, 2021) - PCG Digital -- Chance favors the prepared mind. While the rest of the world is still reeling from China's "unplugging" of cryptocurrency, Michael Toporek, CEO of Mechanical Technologies Inc (NASDAQ: MKTY), sees an opportunity. Their crypto division, EcoChain Inc., is poised to step in, buy up crypto mining equipment, and increase their capacity. "Mining profitability is increasing as Chinese miners relocate their equipment and slow down the delivery of new machines," Toporek shared in a recent interview. "Meanwhile, the price of S19s and equivalents has dropped, payback periods have shortened to between 7 and 9 months, and the price of second and third generation equipment has gone down." China has been cracking down on crypto for years, particularly Bitcoin. In 2013, it banned Chinese banks from handling it. In 2017, it banned initial coin offerings. This year, right on schedule, leaders are going after crypto mining. Bans are now in effect in Xinjiang, Inner Mongolia, Sichuan, and Qinghai. Yunnan has also been heavily restricted. According to Nasdaq , the bans have put roughly one million crypto mining machines on the shelf. It's become a fire sale, and MKTY is buying. "Given much more reasonable payback periods, we're moving to purchase S19s," Toporek stated. "It has a much higher power density that allows us to put more hash rate per megawatt into service." Mining Capacity is Increasing to 50MW by Year's End EcoChain Inc. is a green crypto mining company. Their goal is to develop a network of cryptocurrency mining operations powered by 100% renewable energy. The first link in that chain is a hydroelectric dam in the Columbia River Basin. The company is also actively looking for other investment opportunities in the renewable energy sector. The "Chain" is ramping up 25MW of crypto mining capacity online, with plans to increase that to 50MW by years end. Their pipeline could get them to 300MW in the next 18 months, all from green energy sources. Uptime on existing facilities is currently at 83%, which is intentional because it keeps their kilowatt hour rate at just 2.3 cents per hour. Story continues As for profitability, the company has already made back its investment on their TNT crypto mining facility in under 12 months of operation and anticipates solid revenue through the remainder of 2021, even with crypto pricing currently at its lower rate. Another facility, called Anaconda, will be fully deployed in October, and a third (Python) is being stocked with new equipment. Avoiding Crypto Mining Bans with a Green Energy Approach The Chinese government had several stated reasons for banning crypto mining. Foremost among them was a promise made by Chinese President Xi Jinping to make China "carbon neutral" by 2060. Crypto mining powered by coal-fired power plants will make that almost impossible to achieve. By employing renewable energy sources like hydroelectric dams, wind and solar farms, EcoChain is eliminating carbon emissions and securing the future of crypto mining here in the United States. Investors can put MKTY into an ESG portfolio because of that. It also makes this company a strong buy recommendation. They are trading at $8.00 a share this morning, up 60% YTD. To find out more visit mechtech.com Disclaimer This communication was produced by PCG Digital Holdings, LLC, an affiliate of PCG Advisory Inc., (together "PCG"). PCG is an integrated investor relations, communications and strategic advisory firm. PCG may be compensated by respective clients for publicizing information relating to its client's securities. For more information in terms of compensation received for services provided by PCG, see the pertinent advertising materials relating to the respective client. By accessing this Site and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy. PCG is not a registered or licensed broker, dealer, broker-dealer, investment adviser nor investment manager, nor does PCG engage in any activities that would require such registrations. PCG does not provide investment advice, endorsement, analysis or recommendations with respect to any securities, and its services to or statements about its clients should never be construed as any endorsement of or opinion about any security of any client. No information contained in this communication constitutes an offer to sell, a solicitation of an offer to buy, or a recommendation of any security or any other similar product or service regardless of whether such security, product, or service is referenced in this communication. Further, nothing in this communication is intended to provide tax, legal, or investment advice and nothing in this communication should be construed as a recommendation to buy, sell or hold any investment or security or to engage in any investment strategy or transaction. For full disclaimers, including compensation received for professional services, please visit www.pcgadvisory.com/disclosures . Contact : [email protected] To view the source version of this press release, please visit https://www.newsfilecorp.com/release/91399 || Almost all antisemitic posts stay online despite being flagged, new social media report claims: (AFP via Getty Images) Social media companies have been criticised for not doing enough to tackle antisemitism online. Nearly nine out of ten antisemitic posts on Facebook and Twitter stay online despite being reported, according to a large-scale study conducted by the Centre for Countering Digital Hate (CCDH). The organisation collected and reported 714 posts containing anti-Jewish hate, which it had said had been viewed more than 7.3 million times across Facebook, Instagram , TikTok , Twitter and YouTube . But the organisation said 84 per cent of the reported posts were not acted upon, with Facebook performing worst by failing to act on 89 per cent of the harmful content reported to it. The CCDH accused the platforms of failing to enforce their own rules and allowing their sites to become “safe places to spread racism and propaganda against Jews”. According to the report, 80 per cent of posts containing Holocaust denial and 70 per cent of posts identified as neo-Nazi were not acted upon despite clearly being in breach of platform rules around hateful content. It said Instagram, TikTok and Twitter also allowed anti-Semitic hashtags to be used, with those used in the posts identified by the CCDH gaining more than 3.3 million impressions. TikTok removes just five per cent of accounts that directly racially abuse Jewish users, the figures showed. “Our research concludes that the platforms are failing to remove hateful and anti-Semitic content even after it is specifically reported and flagged”, CCDH chief executive Imran Ahmed said. Our methodology sidesteps debates about algorithms and claims by the companies about automated hate removal that they refuse to have independently verified. “Instead, we measured the effectiveness of the platforms’ opposition to anti-Semitism by assessing what they do with user reports of anti-Jewish hatred. We believe this sample to be a fraction of the anti-Semitic content hosted on major platforms and endemic to Big Tech’s failure to address the hatred that its platforms host. Story continues “Platforms must aggressively remedy their moderation systems which have been proven to be insufficient, and governments must find way to hold platforms accountable for their failures to act.” Mr Ahmed said platforms must remove all groups and hashtags linked to anti-Semitism and close accounts that send abuse to Jewish people. He also called for better training of moderators to more effectively find and remove anti-Semitism and for governments to take firmer action against companies which fail to protect their users from online abuse. In response, Facebook - which also owns Instagram - said it has made progress on fighting anti-Semitism but “our work is never done”. The social media giant said in a statement: “These reports do not account for the fact that we have taken action on 15 times the amount of hate speech since 2017, the prevalence of hate speech is decreasing on our platform and, of the hate speech we remove, 97 per cent was found before someone reported it to us,” a company spokesman said. “Hate has no place on our platform, and, given the alarming rise in anti-Semitism around the world, we have and will continue to take significant action through our policies by removing harmful stereotypes about Jewish people and content that denies or distorts the Holocaust, while educating people about it with authoritative information.” A Twitter spokesman said: “We strongly condemn anti-Semitism in any form. We’re working to make Twitter a safer place for online engagement, and to that end improving the speed and scale of our rule enforcement is a top priority for us. “We recognise that there’s more to do, and we’ll continue to listen and integrate stakeholders’ feedback in these ongoing efforts.” TikTok said: “TikTok condemns anti-Semitism and does not tolerate hate speech. “We work aggressively to combat hate by proactively removing accounts and content that violate our policies and redirecting searches for hateful ideologies to our community guidelines. “Hateful behaviour is incompatible with TikTok’s creative and inclusive environment, and we are adamant about continually improving how we protect our community.” “Over the last few years, we have established a robust hate speech policy and made significant progress in our ability to quickly remove hateful content that violates our Community Guidelines, including antisemitic content ... We removed over 85,000 videos for violating our hate speech policy and 0.16-0.18 per cent of all views on YouTube come from violative content. This work is ongoing and we appreciate this feedback from CCDH”, YouTube said in a statement. Antisemitism and racism on social media has been a long criticism of technology giants. In 2017, it was reported that 40 per cent of all notifications of alleged illegal online hate speech are currently reviewed under 24 hours . The same report, from the EU, also highlights the fact that the Jewish community is the biggest target on online hatred. In June 2020, a number of advertisers boycotted Facebook claiming that the company was inactive against racism . “We’re not gonna change our policies or approach on anything because of a threat to a small percent of our revenue, or to any percent of our revenue,” CEO Mark Zuckerberg said in response. Additional reporting by Press Association Read More Google to cut support for older Android phones Bitcoin price news – live: BTC value plunges as volatile crypto market continues to swing Elon Musk’s SpaceX Starlink ‘plans ground station on the Isle of Man’ for blanket coverage of Britain PS5: Sony unveils first beta update for PlayStation 5 – with range of new features Google banning ‘sugar dating’ apps as part of new changes coming to Play Store PS5 stock is a ‘top priority’, Sony says as it announces new console is the best-selling PlayStation ever || Wyoming becomes first US state to legally recognise DAO: The state of Wyoming has become the first in the US to approve and legally recognise a Decentralised Autonomous Organisation (DAO). The move became official when the American CryptoFed DAO received notice from the Wyoming Secretary of State’s office that it had been acknowledged as a legal business entity. Marian Orr, CEO of the American CryptoFed DAO, said the approval now brought wider adoption into focus for the country’s tenth-largest state. “Wyoming is the leading digital assets jurisdiction in the USA, and now with this DAO law, Wyoming is arguably the top blockchain jurisdiction in the world,” she said. “What this means is that creating a true digital currency with mass acceptance is now possible.” The mission of the American CryptoFed DAO is to create and sustain a monetary system with zero inflation, zero deflation and zero transaction costs. The DAO operates on the EOS network and has two native tokens – Ducat, a stablecoin that will be used for daily transactions and a store of value, and Locke, a governance token used to stabilise Ducat and allow holders to participate in network rule and decision making. A DAO is an open-source blockchain protocol governed by a set of rules created by elected members. The rules are pre-written as smart contracts and can execute without the need for intermediaries. Earlier this year, Wyoming also became the first state in the US to pass legislation into law that recognises DAOs as a distinct form of limited liability companies (LLC) from July 1. AND IT’S OFFICIAL!! 🤠 #Wyoming will recognize #DAOs as a new type of LLC, effective July 1! Thank you legislators & @GovernorGordon for building on Wyoming’s history of inventing the LLC, which all other states followed roughly a decade later. We’re doing it again! A thread👇. 1/ pic.twitter.com/4x7VpcPTkk — Caitlin Long 🔑 (@CaitlinLong_) April 21, 2021 Wyoming’s Secretary of State, Edward Buchanan, praised the state’s continued work as a recognised leader of technology. Story continues “Wyoming has a reputation for being on the leading edge of business technology, beginning in 1977 with the recognition of LLCs,” he said. “We are proud to continue this innovation by offering legal protections to Decentralized Autonomous Organizations.” The Merchant Advisory Group (MAG), representing 165 of the largest merchants in the United States, also expressed its support of the DAO filing. John Drechny, CEO of the MAG, said: “With the announcement of the American CryptoFed becoming the first Decentralized Autonomous Organization in Wyoming, we can see a path in which merchants will have more choices for payment acceptance. “Wyoming is leading the way to create legal certainty in the crypto space, and the American CryptoFed DAO is focused on delivering a fee-free payment choice for merchants.” Marian Orr also highlighted the benefits for merchants when using the DAO. “Our digital currency enables municipalities, merchants and consumers to engage in digital transactions without the cost of processing fees,” she said. Wyoming has been at the forefront of crypto adoption in the US since 2019 when it announced two bills that focused on cryptocurrency and blockchain technology. One of the bills allowed for the regulation and recognition of cryptocurrencies as money in Wyoming, which has since paved the way for a focus on the utility of tokens and now the introduction of a DAO. Wyoming Senator Cynthia Lummis is also pushing for greater crypto adoption in the US. Lummis recently encouraged US citizens to buy and hold Bitcoin (BTC) as retirement savings to hedge against inflation of the dollar. PS – If you are in the #Bitcoin mining space, please reach out. We WANT you in Wyoming. https://t.co/OUPAEYTXTG — Cynthia Lummis (@CynthiaMLummis) July 3, 2021 Lummis also invited crypto miners to the state via Twitter, saying “We WANT you in Wyoming” and defended Bitcoin’s carbon footprint in a recent interview focusing on more affordable energy and the environmental impact of Bitcoin mining. [Random Sample of Social Media Buzz (last 60 days)] None available.
Trend: down || Prices: 49944.62, 51753.41, 52633.54, 46811.13, 46091.39, 46391.42, 44883.91, 45201.46, 46063.27, 44963.07
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 2019-04-26] BTC Price: 5279.35, BTC RSI: 58.84 Gold Price: 1284.90, Gold RSI: 48.16 Oil Price: 63.30, Oil RSI: 53.27 [Random Sample of News (last 60 days)] ‘Cashcoin’: This $14.5 Million Cryptocurrency Scam Involves a Bollywood Actor: A multi-million Indian scam involving investments in a supposed cryptocurrency is unraveling. | Source: Shutterstock The Mumbai Crime Branch in India is set to question Bollywood actor Shahbaz Khan over his involvement in a cryptocurrency scam. The case hit the roof after the Mumbai police arrested four scammers for running Cashcoin, a high-yield investment program that duped investors of ₹1 billion (~$14.52 million). The accused reportedly ran seminars and marketing events across major Indian cities to sell their cloud mining schemes. They would promise investors double returns while projecting bitcoin’s success as a yardstick for their project’s potential progress. Cashcoin approached Shahbaz Khan, a yesteryear actor with over 200 credits in Hindi television and movie industry, to spread its agenda. Khan would use its influence on social media to bring legitimacy to their cloud mining project. He would also appear in Cashcoin seminars and speak well about the project personally with investors. Khan can be seen in one of his Youtube videos inviting investors to Indian city Surat for a Cashcoin event. Excerpts from his video (translated from Hindi): “I will be in Surat on January 5, 2017, for promoting Cashcoin. As we all know that the future belongs to the cashless trend, we also know how much important role cryptocurrencies would play. So, we’ll meet at the event to know more about Cashcoin.” Indian police suspect that Shahbaz Khan received monetary benefits for promoting the said scam. If proved, Khan could face a severe penalty to compensate for the investors’ losses. He could also land in prison on the charges of fraud, breach of trust, criminal conspiracy under the Indian Penal Code and sections of Information Technology Act. Bribing Bollywood Shahbaz Khan’s mention in a cryptocurrency scam closely follows a long history of Bollywood’s relationships with scams and dubious promotions. Before Khan, Indian actors including Shilpa Shetty, Nargis Fakhri, Zarine Khan, and Bipasha Basu openly promoted the works of GainBitcoin mastermind Amit Bhardwaj. The $5.26 billion-scam also allegedly received support from Shetty’s husband, Raj Kundra. Read the full story on CCN.com . View comments || A terrorist group in Syria is reportedly turning to Bitcoin to raise funds: A powerful terrorist group in Syria is reportedly promoting the use of Bitcoin to raise funds due to its anonymity and ease of use. The Independent claims that a powerful jihadi group in Syria known as Hayat Tahrir al-Sham (HTS) – a coalition of rebel groups that includes a former affiliate of al-Qaeda – is encouraging the use of popular cryptocurrency Bitcoin among its followers, calling it “one of the most important inventions of the last decade”. The group has been promoting the virtues of crypto in its weekly magazine. Reportedly, the article lists a number of advantages for using Bitcoin, arguing that it is safe because of the anonymity it offers and the lack of restriction on its usage. HTS currently occupies the majority of Idlib province in northern Syria and remains the most powerful opposition force committed to removing the country’s president, Bashar al-Assad. HTS generates most of its funding through taxes and tariffs imposed on the residents living in areas under its control. However, it also relies on a steady income from private Gulf donors, according to the Counter Extremism Project . Hayat Tahrir al-Sham has been under increased pressure over the last year from the Syrian government and its ally Russia, which has long threatened to launch an offensive strike to recapture the territory. Reportedly, as early as 2014, Isis supporters have created tutorials on how to make Bitcoin donations to the terrorist group. In November 2018, a Pakistani-American woman was jailed for using Bitcoin to launder money for Isis. According to reports, last month the Palestinian group Hamas released a video which urged followers to support it by sending Bitcoin as part of a crowdfunding campaign launched in January . Though contradictory to these reports, Rand released a report of its own stipulating that terrorists are more likely to use cash over crypto. Interested in reading more crypto crime-related news? Discover how Malta turned to a US firm to help it fight crime and terror finance risk. The post A terrorist group in Syria is reportedly turning to Bitcoin to raise funds appeared first on Coin Rivet . || Coinomi Addresses Spellcheck Vulnerability, Accuses Victim of Bitcoin Extortion: Coinomi, cryptocurrency CCN earlier reported that Coinomi wallet had a confirmed bug that allowed Google to view the details of a user’s seed phrase. The seed phrase generates a wallet. Coinomi uses a 24-word phrase. It enables a user to regenerate their wallet on any platform, and maintain a simultaneous wallet on their phone and on their desktop. According to Coinomi’s own blog post on the subject, CCN and social media users wrongly characterized the transmission of seed phrases. Packets Were Not “Plain-Text” For one thing, the transmission was not intentional or by design. The bug only affected desktop wallets. The error happened because of a plug-in used in the desktop wallet. The team in charge of that plug-in had pushed a patch fixing the error on the same day Coinomi first heard of it. The user claims the packets were “plain-text.” But the alleged victim’s own screenshot shows encrypted packets: Read the full story on CCN.com . || Bitcoin, Ethereum, Ripple, EOS, Litecoin, Bitcoin Cash, Binance Coin, Stellar, Cardano, TRON: Price Analysis April 1: 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. Bitcoin has closed in the green for the second consecutive month. This is the first such instance since December 2017, which indicates buying at lower levels. However, right now the action is in altcoins. Traders are piling on select altcoins and the positive sentiment is rubbing on to the leading digital currency. In the current recovery, Bitcoin’sdominancehas been steadily decreasing, which is now at50.1percent. Trading interest and volume in Bitcoin might pick up after the launch of Bakkt. Though there is no word on the launch date yet, Bakkt continues to build a strong team. It has announced Tom Noonan, former cybersecurity expert at IBM, Cisco and Endgame, as thechairmanof its board of directors. During the bull phase, ICOs offer astronomical returns. But during a bear market, most of them take a huge beating. As a result, interest in ICOs diminishes. In Q1 of this year, the ICO market could only raise$118 million, a far cry from the record $6.9 billion raised during Q1 of 2018. But as sentiment improves, this market could again come alive and projects with strong use cases should be able to raise money. Bitcoin (BTC) is inching towards the overhead resistance of $4,255. The bulls have failed to break out of this resistance twice earlier, hence, we expect the bears to defend this level with full force. However, if the bulls scale above this level, it will complete a double bottom pattern and will also trigger a number of stops on the short positions. This will result in a quick move to $4,914.11, followed by a move to $5,273.91. The upsloping moving averages and RSI close to the overbought zone shows that the bulls are in command. Our view will prove to be wrong if theBTC/USDpair reverses direction from the current levels and drops below the moving averages. If the pair sustains below the 50-day SMA, a few more days of range-bound action can be expected. Traders can trail the stops on thelongpositions to $3,700. Though Ethereum (ETH) closed above $144.78 on March 29, the bulls could not sustain the higher levels. However, the bullish sign is that the digital currency is trying to rebound from the 20-day EMA. If it can break out of $144.78 this time, a quick move to $167.32 is possible. TheETH/USDpair will complete an ascending triangle pattern if it breaks out and closes (UTC time frame) above $167.32. The pattern target of this bullish set up is $251.64. Both the moving averages are sloping up gradually and the RSI is also in the positive territory. This suggests that the bulls have the upper hand. Therefore, traders can retain the stop loss on the remaininglongpositions at $125. The traders are not showing any interest either in buying or selling Ripple (XRP). Therefor, the price has been idling around the current level for the past few days. A breakout of the overhead resistance at $0.33108 and the resistance line of the descending channel will be the first indication that the bulls are back in action. Following a breakout of the descending channel, theXRP/USDpair is likely to start a new uptrend that can carry it to $0.60. The ascend might face minor hurdles between $0.40 and $0.45 and above it at $0.50 to $0.55. However, we expect all these hurdles to be crossed. We might suggest long positions once again if the price sustains above $0.33108. Conversely, if the pair turns down and plummets below $0.27795, it will indicate weakness. The next support on the downside is the yearly low of $0.24508. The downtrend will resume if this support also cracks. EOSis again facing stiff resistance at $4.4930, but it has not given up much ground like the previous instance on Feb. 24, when it plunged sharply after reaching the same level. We expect the bulls to make another attempt to break out of the overhead resistance within the next 2–3 days. The next target to watch on the upside is $5.8370. The uptrending moving averages and the RSI in the positive zone suggest that the path of least resistance is to the upside. Our bullish view will be negated if theEOS/USDpair turns down from the current levels and slips below both the moving averages. Therefore, traders can keep the stops on the remaininglongpositions at $3.70. We shall recommend booking partial profits again and trailing the stops higher within the next few days. Litecoin (LTC) is facing stiff resistance at $61.9044. Repeated attempts by the bulls to scale this level have failed. Traders can book profits on 40 percent of the remaininglongpositions above $60 and keep the stop loss on the rest at $55. We have suggested booking some more profits at current levels due to the failure of the bulls to rise above the resistance and the negative divergence on the RSI is making us uncomfortable. A fall below the 20-day EMA will be the first sign that theLTC/USDpair is losing strength. We anticipate a deeper fall if the bulls fail to defend $56.910. Below this support, the level to watch on the downside is the 50-day SMA. Contrary to our expectation, if the bulls push the price above $62, a rally to $69.2790 will be in the cards. Bitcoin Cash (BCH) has been consolidating in a tight range for the past four days. A breakout of $177.30 will complete a rounding bottom formation that has a pattern target of $249.60. Both the moving averages are trending up gradually and the RSI is trading close to the overbought zone. This suggests that the bulls are at an advantage. However, if theBCH/USDpair turns down from the current levels and plummets below the moving averages, it will lose momentum. The digital currency has a history of vertical rallies and waterfall declines. Hence, traders can protect theirlongpositions with the stop loss at $140. Binance Coin (BNB) has extended its fabulous run as it attempts to break out of the stiff overhead resistance at $18. If the bulls can sustain this level, there is no visible resistance until the price reaches near $25. This will bring the digital currency close to the lifetime highs and will be a big sentiment booster. We like how every support is being held and the cryptocurrency has been making a higher floor for itself during the rise. Both the moving averages are trending up and the RSI is close to the overbought one, which suggests that the bulls are firmly in the driver’s seat. Traders can keep the stop loss on theremaininglongpositions at $15. We shall trail this higher if we find signs of profit booking at the lifetime highs. Our bullish assumption will be invalidated if theBNB/USDpair fails to sustain above $18 and reverses direction. A fall below the 50-day SMA will indicate that the current leg of the up move is over. Stellar (XLM) is struggling to break away from the 20-day EMA. The only positive is that the bulls have sustained above the 20-day EMA for the past five days. But if the price does not start an up move soon, it might face selling pressure again. A breakdown of the 20-day EMA can sink theXLM/USDpair towards the uptrend line. If this support also gives way, the trend will turn in favor of the bears. However, with both the moving averages gradually sloping up and the RSI in the positive territory, the path of least resistance is to the upside. We therefore suggest that traders hold thelongpositions with stops at $0.08. Cardano (ADA) came close to $0.075 level both on March 29 and 30. We recommended that traders book partial profits closer to this level in ourpreviousanalysis. The trend remains bullish as both the moving averages are sloping up and the RSI is in the overbought zone. Any dip is likely to be supported at the 20-day EMA. The next target on the upside is $0.082 and if that is crossed, the up move can extend to $0.094. Hence, we suggest traders trail the remaininglongpositions with stops at the breakeven. We shall soon suggest moving the stops to just below the 20-day EMA. TheADA/USDpair will lose momentum if the price fails to rebound off the 20-day EMA. The trend will turn negative on a breakdown and close below the 50-day SMA. Tron (TRX) is currently attempting to break out of the moving averages and the downtrend line. If the bulls sustain this breakout, the price can rally to the next overhead resistance of $0.02815521. This is a critical resistance as the price has repeatedly returned from it. Notwithstanding, if the bulls scale above it, a new uptrend is likely to start that can carry the digital currency to $0.040 and above it to $0.0480. Due to the strong upside potential, we might again suggest long positions on a breakout and close (UTC time frame) above $0.02815521. Contrary to our assumption, if theTRX/USDpair fails to break out and sustain above $0.02815521, it might remain range bound for a few more days. It will turn negative if it plummets below $0.01830. Market data is provided by theHitBTCexchange. Charts for analysis are provided byTradingView. • Bitcoin, Ethereum, Ripple, Litecoin, EOS, Bitcoin Cash, Binance Coin, Stellar, Cardano, Tron: Price Analysis, March 25 • Bitcoin, Ethereum, Ripple, EOS, Litecoin, Bitcoin Cash, Binance Coin, Stellar, Cardano, Tron: Price Analysis, March 29 • Bitcoin, Ethereum, Ripple, Litecoin, EOS, Bitcoin Cash, Binance Coin, Stellar, Cardano, Tron: Price Analysis, March 27 • Bitcoin, Ethereum, Ripple, Litecoin, EOS, Bitcoin Cash, Binance Coin, Stellar, Tron, Cardano: Price Analysis, March 22 || Crypto Tax Firm Makes Half-Baked Bid to Drag Coinbase Through the Mud: With the April 15 tax deadline rapidly approaching, one crypto tax firm tried to drag Bitcoin exchange Coinbase through the mud. | Source: Shutterstock CCN received a “consumer warning” this morning from a crypto tax preparation firm. The warning outlines two aspects of crypto tax that the firm believes have been done wrong by other outfits – namely Bitcoin exchange Coinbase and Intuit, the creator of TurboTax. As regards Coinbase , the firm writes: “The online tax guidance provided by Coinbase implies that airdrops are taxable as ordinary income—which is reported on Line 21 of Schedule 1 of Form 1040—rather than as capital gains that only become taxable when the positions are sold.” Bitcoin Exchange Coinbase Clarifies Crypto Tax Guide We reached out to Coinbase, and they felt this was a mischaracterization of what they actually published. In fact, the Bitcoin exchange only mentions the word “airdrop” once in their tax guidance document. It seems there may be a misunderstanding on the part of the firm. Coinbase refers to payments received in cryptocurrency and say: “When you’re paid in crypto by an employer, your crypto is classified as compensation and will be taxed according to your income tax bracket.” coinbase bitcoin tax Coinbase disputes that it has misled crypto investors and traders. | Source: Coinbase In real terms, this doesn’t speak to airdrops. A Coinbase spokesperson said of this characterization: “Coinbase does not give tax advice, and we do not provide a service to customers whereby we ‘determine how much they owe the IRS’. Comments in the Tax Guide are only intended to be an informational starting point. We encourage customers to seek the assistance of a tax professional. We plainly and clearly state our position on the website. […] If you perform a service to earn crypto, the IRS has indicated that it will consider that service to be taxable at ordinary rates. […] Our website states that if you are ‘paid’ in crypto, including in the form of an airdrop, the payment is taxable. We do not state on the website that ‘all’ airdrops are taxable as ordinary income. Read the full story on CCN.com . || 3% Bitcoin Price Drop Puts a Dent in Short-Term Bullish Outlook: View Bitcoin’s drop to six-day lows below $3,700 has taken the shine off the bullish “long-tailed doji” created on Feb. 27. A bearish reversal would be confirmed if prices see a UTC close below $3,658 (low of long-tailed doji) and could yield a sell-off to recent lows near $3,300. A bearish move below $3,658, however, may not happen or could be short-lived, as a number of technical indicators on the weekly chart are flashing early signs of bullish reversal. On the higher side, a break above $3,897 – high of the candle with long upper shadow created on Feb. 28 – is needed to strengthen the bullish case. A UTC close above that level would open the doors to $4,190 (February high). Bitcoin (BTC) has taken a knock Monday and the sell-off could intensify if key support near $3,650 is breached. The leading cryptocurrency by market value is currently trading at $3,700 on Bitstamp, down more than 3 percent on a 24-hour basis, having clocked a low of $3,670 earlier today. Essentially, BTC has revived the sell-off from the highs near $3,900 hit on Feb. 28 with a drop to six-day lows below $3,700 and bearish pressures would further strengthen if prices find acceptance below the support at $3,658. That would invalidate the bullish view put forward by the “long-tailed doji” created on Feb. 27. Another Bitcoin Indicator Signals Price Bottom May Be Forming It is worth noting that the longer duration indicators are increasingly calling an upside move. For instance, the weekly chart moving average convergence divergence (MACD) histogram has jumped to its highest level since January 2018. Therefore, any dip below $3,658 (low of long-tailed doji) could be short-lived, unless the breakdown is backed by a surge in daily trading volumes to levels above the recent high of $10.79 billion. Daily chart As seen above, BTC is currently probing the support at $3,683, which marks the confluence of the former resistance-turned-support of the upper edge of the triangle and the 100-day moving average (MA). Story continues A UTC close below $3,658 (low of long-tailed doji) would put the focus back on the high-volume bearish outside reversal candle carved out on Feb. 24 and open the doors to recent lows near $3,300. Angry Bitcoin Fans Delete Coinbase Accounts to Protest Neutrino Acquisition On the higher side, a move above $3,897 (high of the candle with long upper shadow) would strengthen the bullish case and allow a rally to $4,190 (February high). The bullish scenario looks likely, courtesy of growing signs of seller exhaustion on longer duration charts. Weekly chart The 5- and 10-candle MAs on the weekly chart have produced a bullish crossover for the first time since the third quarter of 2018. Further, the money flow index has taken out the upper edge of the triangle, validating the bullish divergence carved in December. The MACD histogram is most bullish in over 12 months, as noted earlier. And last but not the least, the bearish crossover of the 50- and 100-week MAs – a big-time lagging indicator – is signaling seller exhaustion, as discussed last month. Disclosure:  The author holds no cryptocurrency assets at the time of writing. Bitcoin  image via Shutterstock; charts by Trading View Related Stories Bitcoin Awaits Decisive Price Move as Trading Range Tightens Federal Reserve May Add Bitcoin Crash to Stress Test Scenarios || CEO of Crypto City Project Bitcointopia Pleads Guilty to Selling Land He Didn’t Have: Morgan Rockcoons, also known as Morgan Rockwell, has pleaded guilty to two cryptocurrency-related charges in San Diego federal court this week. Rockcoons admitted both to selling land he didn’t have for acryptocity project dubbed “Bitcointopia” and to operating a money transmitting business without a license, daily news outlet the Los Angeles Times (LA Times)reportedon March 8. Per the report, Rockcoons first attracted the attention of law enforcement in 2015 with his Bitcoin (BTC)-fiat currency exchange services, which he advertised online. The LA Times reports that under United States federal law, businesses exchanging crypto for cash in the country must be licensed as money transmitters with the Financial Crimes Enforcement Network. At the end of 2016, an undercover U.S. agent allegedly posed as a hash oil manufacturer who needed to pay for equipment in BTC. In his plea agreement, Rockcoons reportedly admitted that he transferred about $9,200 in Bitcoin to the agent for $14,500 in cash, keeping the surplus as a fee. Per the report, during his bail period, Rockcoons launched his crypto city project Bitcointopia, an initiativedescribedas “the desert crypto-kingdom of the future.” While the project’s website is evidently offline, an advertisement on what appears to be Bitcointopia’s official Twitter profileshowsthat the company was selling one acre of land in Nevada for 0.5 BTC (about$1,977at press time), two acres for one BTC (about $3,956) and three acres for 1.5 BTC (about $5,934) According to the LA Times, the land was located in Elko County, Nevada, but prosecutors said that Rockcoons in fact only owned under 5 acres in two non-contiguous plots. The report claims that he, however, advertised 500 to 1,000 acre plots and the loss to investors amounted at least to $45,600. Rockcoons reportedly faces up to 20 years in prison over the fraud charge and up to 5 years because of operating an unregistered money transmission business in the U.S. As Cointelegraphreportedin October last year, a U.S. citizen then also pled guilty before a federal court to operating an unlicensed money transmitting business viaLocalBitcoins.In June 2018,news brokethat an Los Angeles-based trader, who acted under the pseudonym “Bitcoin Maven,” was prosecuted for similar charges, allegedly running an unregistered multi-million dollar Bitcoin-fiat money transmitting business, also via a LocalBitcoins. • US District Attorney Charges OneCoin Founders With ‘Billions’ in Alleged Fraud • Japan: Reported Cases of Crypto-Related Money Laundering Increase 10-Fold in 2018 • German Blockchain Strategy Should Include Framework for Crypto Trading, Say Politicians • US Marshals Service Issues Information Request on Management of Forfeited Crypto Assets || Latest Ripple price and analysis (XRP to USD): The price of Ripple (XRP) has gone down about 1% over the last 24 hours, and is currently hovering around $0.344. Ripple’s price is currently consolidating near new support levels after a huge rally earlier in the week which saw XRP’s price rise by more than 10%. The previous support level until recently was around $0.308. Prior to the rally, XRP had been trading quite positively after being added to Coinbase Pro last month. Despite the minor decline over the last 24 hours, Ripple is currently following the upwards market trend and price is maintaining a positive slope. Daily volume has increased substantially as well and is now just above $2 billion, about 200% higher than last week. Latest Ripple price Current live Ripple 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 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 About Ripple 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: Latest Ripple price and analysis (XRP to USD) By Pedro Febrero – April 4, 2019 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. The post Latest Ripple price and analysis (XRP to USD) appeared first on Coin Rivet . || Forex Daily Recap – Culprit For All “Yield Curve Inversion”: On Monday morning, theUSD Indexthat computes the greenback against the six major currencies tumbled down by 0.18 percent reaching 95.98. The index traded lower to its rivals amid global recession fears. The plunge was followed after the Fed announced that the difference in the spread between three-month treasury bills yield and a ten-year bond’s yield came out to be negative. This particular dreadful condition is normally coined as the “Yield Curve Inversion”. This phenomenon had occurred earlier in 2007 which was just before the start of the global financial crisis. Inverted Yield Curve preceded every Recession in the last 50 years. The fall in the key index had also distributed its agony contagiously to the other weak currencies weighed against it. “I wouldn’t say the dash for safe assets is over. The tone of general risk-off sentiment will prevail for a while but not to the same extent (as on Friday),” Commerzbank strategists Ulrich Leuchtmannsaid, noting a recession was unlikely in the near term either in the eurozone or the United States. The Russian Ruble gained strongly in today’s trading session. TheUSD/RUBpair touched the intraday low of 63.9800 before bouncing back sharply at a current level of 64.1155. On Sunday, the Special Counsel Robert Mueller released its report of not finding any conspiracy of President Donald Trump’s campaign and the Russian government. This has raised the optimism for the Russian economy, with the assumption that the US will not impose any major sanction. The USD/RUB pair remains the best performing currency on the Year to Day basis. At the time of writing this article, theEUR/USDwas trading at 1.1319. Today, Germany’s IFO Institute announced its more-than-expected business index. The index recorded 99.6 over the consensus estimate of 98.5. This positive event had helped to reduce the intensity of the recession news from affecting the European shares. The Euro hence gained 0.2 percent reaching the day’s high of $1.1327. The Cable was trading at 1.3184 during the day. Sterling Pound remained clung near 1.3228 levels, 0.14 percent up for the day. The pound touched a three-day high level after ITV News reported that the UK Prime Minister Theresa May had mentioned the voting on her Brexit deal will take place tomorrow. She also added that she would resign before the parliamentary vote. TheGBP/USDis hence expected to stay highly volatile until April 12. The Aussie pair opened up on Monday morning reaching fresh highs touching 0.7100 levels. TheAUD/USDpair stay alerted over concerns of US-China trade talks. Mueller’s report created a high level of optimism among the investors on the US-China Trade Settlement. The pair had been among the strongest currencies to survive at good high levels for a sustained period. But today the high-level JPY was brought down over concerns of a rising chance of a US Economy Recession. TheUSD/JPYpair steeply fell down on the opening bell and found support at 109.79. From there, it reached the day high of 110.24. The pair plunged again reached the earlier support again. Thisarticlewas originally posted on FX Empire • USD/JPY Price Forecast – US dollar looking for support at major level • EUR/USD Price Forecast – Euro rallies to kick off Monday • Bitcoin And Ethereum Daily Price Forecast – Major Crypto Coins Continue Consolidative Price Action • NZD/USD Bullish Continuation Targeting 0.6935 • USD/CAD Daily Price Forecast – Weak Crude Oil Price To Help US Dollar Retain Upper Hand • E-mini S&P 500 Index (ES) Futures Technical Analysis – Rebounding After Testing Key Retracement Zone; Could Hit 2828.25 Pivot || 3% of American Retirees Own Some Bitcoin, While 33% Have No Idea What Bitcoin Is: Survey: About 3% of American retirees claimed to own some bitcoin ( BTC ) in a new survey released by precious metals -focused magazine Gold IRA Guide on April 17. In April, Gold IRA Guide conducted a survey asking 1,000 American retirees over 50 years old about their thoughts on investing in major cryptocurrency bitcoin. According to the survey results, 56.7% of respondents were aware of bitcoin, but were not interested to invest, while 2.7 percent claimed that they already owned some bitcoin. Around 3.5 percent said that they would like to invest in bitcoin, but did not know how to start, while 4.5 of retirees expressed interest in investing in bitcoin, but decided to keep an eye on it instead of going forward on the matter. With that, a large fraction of American retirees appeared to not even know what bitcoin is, with 32.9% of respondents having answered that they “have no idea what bitcoin is.” American retirees about investing in bitcoin American retirees about investing in bitcoin. Source: Gold IRA Guide Earlier in April, Cointelegraph reported that 2% of citizens of Russia have invested in bitcoin, based on a survey by the oldest polling institution in post-Soviet Russia. Recently, trade publications Global Custodian and The Trade Crypto released a joint study that found that 94% of endowments have been allocating to crypto-related investments throughout 2018. Related Articles: 94% of Surveyed Endowment Funds are Allocating to Crypto Investments: Study 2% of Russians Claim to Have Invested in Bitcoin to Date: National Polling Institution FinCEN Takes First Enforcement Action Against P2P Cryptocurrency Exchanger Coinbase’s 2018 Revenue Is 60% Less Than Projected by the Firm: Report [Random Sample of Social Media Buzz (last 60 days)] The ‘Social Proof of Work’ mining is done via a mobile app which prompts the user to fill out surveys that cover a gamut of areas that normally would not be recorded or reported. https://t.co/lhLhin8A0L #ARCC #AsiaReserveCurrencyCoin #cryptocurrency #token #bitcoin #Socialimpact https://t.co/yHdhvMDVCR || Bitcoin: $3,816.04 +0.13% (+$5.00) High: $3,884.08 Low: $3,776.00 Volume: 605 $BTC #BTC #bitcoin || 2019/04/06 20:00 #Binance 格安コイン 1位 #NPXS 0.00000015 BTC(0.08円) 2位 #BTT 0.00000016 BTC(0.09円) 3位 #DENT 0.00000019 BTC(0.11円) 4位 #BCN 0.00000022 BTC(0.12円) 5位 #HOT 0.00000027 BTC(0.15円) #仮想通貨 #アルトコイン #草コイン || Bitcoin - BTC Price: $3,781.59 Change in 1h: -0.0% Market cap: $66,449,780,909.00 Ranking: 1 #Bitcoin #BTC || Selling 0.0125 BTC at $5143.00 and buying back at $5037.46 || Wil je me €5,00 betalen voor 'Bitcoin' via https://tikkie.me/pay/7rvn456d5ku52hesdmr1 … Deze link is geldig t/m 6 mei || The Bitcoin network is a cross section extrusion of a geometric matrix from a higher dimension into this dimension of spacetime. || 2019/02/27 05:00 BTC 420416.5円 ETH 14878.9円 ETC 467.9円 BCH 14462.1円 XRP 34.9円 XEM 4.7円 LSK 134.7円 MONA 56.8円 #仮想通貨 #ビットコイン #Bitcoin #bitFlyer #Coincheck || 2200W Coin Mining Machine Power Supply ATX for 8 GPU ETH BTC Rig Ethereum Miner http://bit.ly/2WB4dfr  $109.00 End Date: Wednesday Apr-24-2019 19:09:05 PDT Buy It Now for only: $109.00 Buy It Now | Add to watch list from https://ebay.to/2OsKs6B  #bitcoin #cryptomining #crypt…pic.twitter.com/iD1WS5A8SX || Sellers looking exhausted on EVX/BTC. Holding historic support at this level. Also 0.786 FIB from second wave up. Let´s see a rally soon... $evx #evx $btc #btc pic.twitter.com/VWsj0ZOoHh
Trend: up || Prices: 5268.29, 5285.14, 5247.35, 5350.73, 5402.70, 5505.28, 5768.29, 5831.17, 5795.71, 5746.81
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)] ShapeShift’s Voorhees: Bitcoin Won’t Become Trillion-Dollar Asset Without More Bubbles: The CEO of instantcryptocurrency exchangeplatformShapeShifttoldBloomberg TVon May 15 thatbubblesare an essential part of the industry’s growth. Speaking in an interview,Erik Voorheesargued that the volatility seen inbitcoin(BTC) andaltcoinmarkets over the years is a necessary phenomenon for a nascent asset. “There have to be bubbles in crypto because crypto is taking over the world, and it’s not just going to advance 5% per month without end,” he told the network. He then added: “If it did that, people would start buying it up and frontrunning it and turning it into a bubble.” Voorhees, whose firm offers trading wholly within thecryptocurrencyrealm and does not involvefiat currencyconversion for users, was speaking as bitcoin set its highest price in over a year. As Cointelegraphreported, a slow bull market which began early April gathered speed this month, with BTC/USD advancing over $8,000 to cap monthly gains of over 60%. Voorhees did not identify a specific reason for the newfound market optimism, arguing the rise was due to mass individual trader activity. “There’s no way to go from a zero-dollar asset into one that is worth trillions without massive speculation and massive volatility and cyclical bubbles,” he continued. ShapeShift suffered at the hands of increasing regulatory scrutiny over the past year, Cointelegraphreportingon a sharp rise in law enforcement requests to the company. The 2018 cryptocurrency bear market also took its toll on performance, ShapeShift making roughly one third of its staffredundantin January. • Nouriel Roubini at Salt Conference in NY: Crypto Is the Mother and Father of All Bubbles • Report: Bitcoin’s Recent Surge Due its Maturation as an Asset • Reserve CEO Predicts Central Banks Will Tokenize, Still Room for Stablecoins • Fidelity Investments Seeks Talent for Its Digital Assets Division || What is Ethereum Classic?: Ethereum Classic (ETC) is a fork of Ethereum. Or perhaps Ethereum is a fork of Ethereum Classic… It depends on who you ask and can be a little confusing. Either way, the original Ethereum blockchain is now split into two competing versions. One is sitting pretty as the second-largest cryptocurrency by market cap – namely Ethereum. Ethereum Classic has been having a rougher time of it and is currently 18th in the market cap rankings. Let’s dive a little deeper into what Ethereum Classic is and how it came about. The creation of Ethereum Classic Soon after the birth of Ethereum, a new concept was invented. The Decentralised Autonomous Organisation (DAO) was a smashing idea in theory that generated a lot of hype. However, in reality, things did not go to plan. The DAO was supposed to be used as a fundraising tool for various projects built on Ethereum and was crowdfunded itself in 2016. This was the largest crowdfunding campaign in history at the time. However, disaster struck the project soon after its release. The open source code had a major bug in the system which a hacker exploited. This resulted in 3.6 million ETH being stolen, equivalent to $50 million at the time. The DAO contained 14% of all circulating Ethereum upon its creation. The hack caused much debate within the Ethereum community about how to proceed. Should they continue on and learn from their mistakes? Or should they roll back the blockchain, returning the money to the investors whilst also harming the supposed immutability of the blockchain? Eventually it was decided to roll back the blockchain. However, this decision wasn’t without controversy and did not achieve consensus. Therefore, when the roll back was initiated, several miners continued to mine the original chain, causing a split. This resulted in the creation of two Ethereums: Ethereum and Ethereum Classic. Unlike the split between Bitcoin and Bitcoin Cash, the fork for Ethereum has been a lot more civil. They have now co-existed together for a few years without the vitriol and competitiveness we have seen from the Bitcoin split. Story continues Backers of Ethereum Classic There are currently three separate teams supporting ETC. The first and most commonly cited is Ethereum Classic Cooperative . This is a project run by investor and Greyscale CEO Barry Silbert. There have been comments that Ethereum Classic is now Barry Silbert’s cryptocurrency in much the same way Ethereum relies on Vitalik Buterin. However, Silbert claims to have taken a “very hands-off approach”. The two other teams working on Ethereum Classic are Ethereum Classic Labs and IOHK Ethereum Classic. IOHK is a technology company founded by Cardano creator Charles Hoskinson, so its time is split between the two cryptocurrencies (although it is likely that much of its focus is now on Cardano). Ethereum Classic Labs is partnered with Barry Silbert’s Digital Currency Group and helps fundraise start-ups and projects on the Ethereum Classic blockchain. Attack on Ethereum Classic Earlier in 2019, Coin Rivet reported that ETC was suffering from a 51% attack. Coinbase was the first to spot the attack, stating on its blog: “We detected 12 additional reorganisations that included double spends, totaling 219,500 ETC ($1.1 million).” Whilst this could have been a disaster from both a PR and security perspective, the reaction was subdued. This was either due to a lack of interest from the market as a whole or a strong belief from the Ethereum Classic community that they would survive and return stronger. Price history Ethereum Classic began trading at just under $1 and soon rose to $2.70 in early 2016, before ending the year at $1.60. Like every other cryptocurrency during 2017, the price of Ethereum Classic rose with the rest of the market. The coin peaked at $47.77 in December 2017, and in January 2018, Barry Silbert released his tweet below when the price was $28.13. Unfortunately for anyone that might have listened to Silbert’s advice, they will have seen ETC succumb to the grip of the bear market as the cryptocurrency now rests at $5.68. At the same time, Ethereum continues to plug away at a much higher value. ETC never managed to attract the ICO platforms that allowed the Ethereum chain to pump so massively in price, and with the days of ICOs seemingly over, it appears to have missed the boat on this price boosting tactic. If you're not watching Ethereum Classic ($ETC), you're doing it wrong — Barry Silbert (@barrysilbert) February 12, 2018 Conclusion Ethereum Classic has struggled to compete with Ethereum since their split. With continued progress being made on Ethereum as well as the rise of other competing blockchains such as Cardano or EOS, the future of ETC appears to be one of struggle. Should another bull run occur soon though, ETC may cling on and survive a little longer, but it is unlikely to reach mainstream attention. The post What is Ethereum Classic? appeared first on Coin Rivet . || Out of Testnet and Into Alpha: Lightning Labs’ Desktop Application Is Live: Lightning Labsjust released an alpha version of itsLightning Networkwallet. The desktop application is now compatible with Bitcoin’s mainnet and it leverages Neutrino (the protocol,notthe analytics company acquired by Coinbase) to give users a lightweight option to “control their own funds,” as opposed to running a full node or trusting a third party to play custodian. “This release required a diverse skill set of protocol engineering, product development and design thinking,” Tankred Hase, a Lightning Labs application developer, toldBitcoin Magazine. “I’m lucky enough to work with such a talented team at Lightning Labs where we can bring all those perspectives together. I’m hoping this release makes Bitcoin and Lightning more accessible to new types of users.” The release, which Lightning Labs says in ablog post“is still an early version targeted at testers,” is immediately available for macOS, Windows and Linux, while smartphone applications for Android and iOS “are coming very soon,” Hase told us. Hase also said that the Android app is still in development internally and the iOS iteration is “available publicly in pre-alpha in TestFlight.” He added that the company needs to “polish Lightning Network Daemon/Neutrino stability and performance” before the full releases. For the desktop application, v0.5.0-alpha will launch on Bitcoin’s mainnet by default, while prior versions will now allow users to automatically update when they enter testnet (the testnet version will still be available, though it will likely be most useful for developers and engineers in light of this mainnet release). The update has introduced a slew of improvements, according to Lightning Labs. It sports a unified balance to help users keep track of how much bitcoin they have on-chain or in payment channels, with the latter demarcated by a percentage under the aggregate balance. Users will also be able to view how many satoshis are in each channel with the app’s channel page. Autopilot — a feature for the Lightning Network Daemon implementation that makes it easier to connect to nodes to set up channels — now includes a scoring system to judge which nodes would be most effective at routing payments. This autopilot mechanism is a default feature now, though the application also lets its users manage their node connections and channels manually if they wish. “Selecting which node to open a channel to is something we don’t want our users to burden themselves with,” the post reads. “Selecting a set of initial channels is an important part of bootstrapping new users to the Lightning Network, and with this new system, we’ll ensure that our users’ very first channels act as reliable gateways to the Lightning Network.” Down the road, Lightning Labs will integrateLightning Loopto give users the option to top up channel balances or empty them without closing the channels themselves. The above features are notable for user experience and interface improvements, but perhaps the most salient addition in the release is the wallet’s use of Neutrino. As the blog post succinctly spells out, Neutrino, which can be used for on-chain wallets but is especially useful for Lightning, “is a light client specification that allows non-custodial Lightning wallets to verify Bitcoin transactions.” Basically, it allows software clients (applications) to receive compressed blockchain data to verify transactions without having to download the full Bitcoin blockchain, which clocks in at an unwieldy 200 GB. This gives these clients a degree of the same privacy that full nodes enjoy, without sacrificing custody of funds to a third party (the typical trade-off for using a lightweight wallet). “Without Neutrino, a non-custodial solution required using the command line interface, setting up your own Bitcoin + Lightning full node and the configuring of a third-party app to connect remotely to your node,” Hase toldBitcoin Magazine. “That process was very technical and required way too many steps for average users. Neutrino allows us to bundle everything up into one app that users can open with a double click.” So if you use Lightning Labs’ wallet, even if you’re not connected to your own node, you have complete custody of your funds. The post concludes by warning users that Lightning is “still very early technology and there’s a risk of losing all of your funds.” It also calls for the community to help improve the application by reaching out to Lightning Labs and opening up requests on GitHub. As the technology is still risky — and the Neutrino client is young — Lightning Labs won’t be resting on its laurels. As Hase told us in our correspondence, there’s still plenty of work to do and much they can learn from this rollout as users begin tinkering. “It’s still the very first release and now is the time to iterate and start learning,” he said. This article originally appeared onBitcoin Magazine. || Hackers Steal $40 Million Worth of Bitcoin From Binance Exchange: (Bloomberg) -- Binance, one of the world’s largest cryptocurrency exchanges, said hackers withdrew 7,000 Bitcoins worth about $40 million via a single transaction in a “large scale security breach,” the latest in a long line of thefts in the digital currency space. The hackers used a “variety of techniques” including phishing and viruses to obtain a large amount of user data, Binance said in a post on its website. There may be additional accounts that have been affected but not yet identified, Binance said. The largest digital tokens including Bitcoin slid about 3 percent after the disclosure, then recovered most of the drop. The company will use its Secure Asset Fund for Users, an emergency insurance fund, to cover the incident in full and no user funds will be affected, it said. The transaction was limited to Binance’s BTC hot wallet, which contains about 2 percent of the company’s Bitcoin holdings, according to the post. Other wallets are secure and unharmed, the exchange said. The 7,000 Bitcoins are worth roughly $40 million, based on current Bitcoin composite pricing calculated by Bloomberg. Bitcoin pared its decline to 0.5 percent as of 10:53 a.m. in London, after earlier dropping as much as 3.1 percent from Tuesday. The broader Bloomberg Galaxy Crypto Index also dipped. “The hackers had the patience to wait, and execute well-orchestrated actions through multiple seemingly independent accounts at the most opportune time,” according to the post, written by Zhao Changpeng, Binance’s chief executive officer. “We must conduct a thorough security review. The security review will include all parts of our systems and data.” Binance estimates the review will take a week, during which time all deposits and withdrawals will remain suspended, while trading will continue to be enabled to allow investors to adjust their positions. The hackers may still control some user accounts and may “use those to influence prices in the meantime,” the exchange said. Story continues The hackers structured the transaction to bypass existing security checks, and Binance was unable to block the withdrawal before it was executed, according to the post. Once the transaction was executed, it triggered alarms on Binance’s system and all withdrawals were stopped immediately after that, the post said. In a tweet linking to the post, Zhao said it was “not the best of days, but we will stay transparent.” (Updates price reaction, from third paragraph.) --With assistance from Todd White. To contact the reporter on this story: Eric Lam in Hong Kong at [email protected] To contact the editors responsible for this story: Christopher Anstey at [email protected], Cormac Mullen For more articles like this, please visit us at bloomberg.com ©2019 Bloomberg L.P. || Fake CIA Sextortionists Demand Bitcoin Under Threat Of Prosecution: Phishing scams are the bane of a good day. What better way to wake up than reading an email saying your credit card has been stolen? How about an email asking for bitcoin to keep you out of jail? Don’t you love phishing scams? There’s a new, particularly nasty crypto-related scam floating around, and it very well may ruin your life, quite literally, if you don’t pay attention. • Mandatory sex offender registration • Loss of substantial cash flow • Lawsuits • Benefitting criminals • Etc. As you can tell by reading the side effects of their latest prescribedscam attempt, it’s not a great idea to buy-in while you can. This latest scam will accuse you of viewing, storing, and/or transmitting illicit or pornographic media of minors. To date, this scam has earned more than30 bitcoins in just the top 15 most reportedwallets—more than $120,000 of stolen bitcoin because sextortionists impersonated government officials. Do Not Click On The Attachment In Their Email—You Might Give Them Access To Your Computer. They Will Get You In Deep Trouble. They kindly inform you that you’ve been incriminated in an investigation of a few thousand individuals across a handful of countries. They also tell you thatyou have a way out—Bribing a government official with bitcoin. Oh! They even give you a (completely bogus) case number! Read the full story on CCN.com. || Gold ETFs Tick Higher as China Adds More Precious Metals to Reserves: This article was originally published on ETFTrends.com. Despite news of a trade deal swirling with the U.S., China is shoring up its reserves of gold amid a slowing economy. This could help exchange-traded funds (ETFs) like the SPDR Gold Shares ( GLD ) and SPDR Gold MiniShares ( GLDM ) . Per a Bloomberg report , the "People’s Bank of China raised reserves to 60.62 million ounces in March from 60.26 million a month earlier, according to data on its website on Sunday." Furthermore, the world's second largest economy has been adding more gold to its reserves for a fourth straight month. As of 11:30 a.m. ET, GLD was 0.48 percent higher and GLDM rose 0.61 percent. Gold has long been used as a safe haven asset, particularly when the value of the dollar declines. Furthermore, it provides a hedge for inflation since its price typically rises in conjunction with consumer prices. During the Great Depression of the 1930s, gold was also a hedge against deflation. While the prices of assets were dropping during this time, the purchasing power of gold rose to prominence. Fast forward to the financial crisis in 2008, the price of gold increased sharply while faith in U.S. equities was languishing. In essence, gold has proven to withstand times of geopolitical and economic uncertainty. With the latest Fedspeak sounding more dovish as it now projects two interest rate hikes in 2019 as opposed to three or more, this could be the trigger for gold to return to come back into the forefront, particularly as a safe-haven option in the wake of more volatility. While bonds are typically the default play when U.S. equities go awry, gold is also a prime option for diversification as a safe alternative. Related: Gold ETF Holdings Edge Modestly Higher in March Is Upside Ahead for Gold? In move that was widely anticipated by most market experts, the Fed elected to keep rates unchanged last month, holding its policy rate in a range between 2.25 percent and 2.5 percent. In addition, the central bank alluded to no more rate hikes for the rest of 2019 after initially forecasting two. The capital markets initially expected rates to remain steady after the central bank spoke in more dovish tones following the fourth and final rate hike for 2018 last December. Of course, less hikes and a rate cut would translate to dollar weakness–an open path for strength in gold. “Recent comments from Fed officials, as well as FOMC members’ guidance on policy rates, all suggest that U.S. policy rates will remain unchanged for the foreseeable future. Fed fund rates futures are similarly pricing in no rate increases at least for 2019 … This in itself should be positive for gold, as it should encourage investor interest in safe-haven assets,” Metals Focus noted. Story continues Gold ETFs Fall, but Late-Year Rally Could Be Ahead 1 Short-term traders can also play the gold market through miners with the VanEck Vectors Gold Miners ( GDX ) , Direxion Daily Jr Gold Miners Bull 3X ETF ( JNUG ) and the Direxion Daily Gold Miners Bull 3X ETF ( NUGT ) . 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 Using Merger Arbitrage as a Hedge Against Market Volatility A Better Way to Determine Risk Exposure for Growth ETF Investors Report Findings Highlight Fake Bitcoin Trading on Unregulated Exchanges How to Manage A Mature Bull Market With Macro-Themed ETF Strategies In the Know: Building a Low Cost, Defensive Portfolio READ MORE AT ETFTRENDS.COM > View comments || Term Sheet -- Tuesday, May 14: 1. THE BLAME GAMEAs of Monday’s market close, those who bought into Uber at its IPO were down roughly $1.4 billion. Eesh.But wait — there are people who are doing just fine. Early investors and the bankers who helped take the company public. Uber paid $106.2 million to a bevy of underwriters led by Morgan Stanley, according to SEC filings. The group also includes Goldman Sachs, BofA Merrill Lynch, Barclays, Citigroup, and Allen & Company.There’s been a deluge of criticism around Morgan Stanley’s role in Uber’s IPO. “The underwriters should have done a better job at figuring how strong the true demand was,” Jay Ritter, a professor at the University of Florida’s Warrington College of Business,toldBloomberg.My colleague Lucindarecounts an incident that occurred after Facebook’s IPO:That IPO, too, involved Morgan Stanley in the lead role. Following a lackluster first day of trading, the bank’s fees, as well as trades stemming from its role as the lead in the deal, were heavily scrutinized. A Massachusetts regulator later fined Morgan Stanley $5 million over the IPO, arguing the underwriter had selectively disclosed information to certain clients over others.Now, Morgan Stanley finds itself in hot water again as it sold Uber stock to its wealth management clientsat a $48.77 share pricewith a 180 day lock-up period before they can sell. Uber closed down more than 10% to below $38 a share Monday.In an all-hands email, Uber CEO Dara Khosrowshahi attempted to calm his employees. He wrote, “Like all periods of transition, there are ups and downs. Remember that the Facebook and Amazon post-IPO trading was incredibly difficult for those companies. And look at how they have delivered since.”Although Uber hasn’t pointed the finger at Morgan Stanley for its performance on the public markets, I’m not sure the bank’s clients are as level-headed. AsJosh Brown of Ritholtz Wealth Management said on Twitter,“This will be a fun phone conversation for their financial advisors.”CRYPTO CRAZE:Bitcoin’s price crossed $8,000 as it hit its highest level since July 2018. As the digital currency gains momentum,Fortune’sJeff John Robertsreports that it could soon enter mainstream commerce. Big name retailers—including Crate and Barrel, Nordstrom, and Amazon-owned Whole Foods—will reportedly accept Bitcoin and three other types of digital money.The retail initiative comes via a partnership between Flexa, a payments startup, and Gemini, the Cameron and Tyler Winklevoss-owned digital currency company. It works by piggybacking on the digital scanners that many big retailers use to accept phone-based payments from their apps and from digital wallets like Apple Pay.Read the full story here. 2. VENTURE DEALS•Nextdoor, Inc., a social network for the neighborhood, raised $123 million in funding at a $2.1 billion valuation.RiverwoodCapital led the round, and was joined by investors includingBenchmark, Tiger Global ManagementandKleiner Perkins.•DocPlanner, a healthcare booking platform, raised €80 million ($89.7 million) in Series E funding.One Peak PartnersandGoldman Sachs Private Capital Investingled the round, and were joined by investors includingPiton CapitalandENERN Investments.•Tempo Automation,a San Francisco-based electronics manufacturer for prototyping and low-volume production of printed circuit board assemblies, raised $45 million in Series C funding.Point72 Venturesled the round, and was joined by investors includingLockheed Martin,Lux CapitalandUncork Capital.•Respond Software,a Mountain View, Calif.-based developer of software for security operations, raised $20 million in Series B funding.ClearSky Securityled the round.•Hatch, a lifestyle brand for women before, during and after pregnancy, raised $5 million in Series A funding.Silas Capitalled the round, and was joined by investors includingM3 Ventures.•Soundstripe,a Nashville-based company providing music and sound effects to digital creators, raised $4 million in Series A funding.Vocap Investment Partnersled the round.•NanoPhotonica, a Lake Mary, Fla.-based provider of quantum dot, nanomaterials and device technology, raised $3.5 million in funding.Samsung Venturesled the round, and was joined by investors includingDeepWork Capital.•CodeSandbox,a Netherlands-based online code editor, raised $2.4 million in seed funding.Kleiner Perkinsled the round,and was joined by investors includingArches Capital. 3. HEALTH AND LIFE SCIENCES DEALS•ElevateBio, a Cambridge, Mass.-based biotech holding company, raised $150 million in Series A funding. Investors includeUBS Oncology Impact Fund, EcoR1 Capital, Redmile GroupandSamsara BioCapital.•Livionex, a Los Gatos, Calif.-based biotech firm, raised $4 million in Series A funding. The investors were not named. 4. PRIVATE EQUITY DEALS•BlackBern PartnersacquiredZentech Manufacturing, a Baltimore, Md.-based electronics contract manufacturer. Financial terms weren’t disclosed.•Sky Island CapitalacquiredMaterial Sciences Corporation,a Canton, Mich.-based provider of advanced materials and specialty coated metals. Financial terms weren’t disclosed.•Sterling Partners’ Education Opportunity Fundmade an investment inReading Plus, a Vermont-based provider of literacy solutions for grades 3-12. Financial terms weren’t disclosed.•Splash Car Wash, which is backed byPalladin Consumer Retail Partners, acquiredWash Co, a Middletown, N.Y.-based operator of car wash facility and laundromat. Financial terms weren’t disclosed.•Tikehau Capitalwill invest 26 million pounds ($33.6 million) inMedtrade, a U.K.-based developer of medical device products.•Cove Hill Partnersmade an investment inNetDocuments, a Lehi, Utah-based cloud-based content services platform for law firms and corporate legal and compliance departments. Financial terms weren’t disclosed.•Riverside Partnersmade a majority investment in3Play Media Inc,a Boston-based provider of video captioning, transcription, subtitling, and audio description services. Financial terms weren’t disclosed.•Lee Equity Partnersagreed to acquire a majority stake inK2 Insurance Services,a specialty insurance services holding company. Financial terms weren’t disclosed. 5. OTHER DEALS•CM GroupacquiredVuture, a New York-based cross-channel marketing platform for legal and professional service providers. Financial terms weren’t disclosed. In conjunction with the acquisition, CM Group also completed $410 million in financing to provide capital for future acquisitions.•ArchiMedacquiredBomi Group, an Italy-based provider of logistic services and solutions for diagnostic and medical sectors, for approximately €70 million ($78.5 million). 6. EXITS•L Squared Capital Partnerssold its stake inVirtium, a Rancho Santa Margarita, Calif.-based provider of solutions of industrial-grade memory and storage solutions, toCourt Square Capital Partners. Financial terms weren’t disclosed.•Webster Equity PartnersacquiredVivona Brands, a London-based provider of beauty, wellness, and lifestyle products, fromInflexion Private Equity. Financial terms weren’t disclosed.•Onit, IncacquiredSimpleLegal, a Mountain View, Calif.-based provider of modern legal spend, matter and vendor management software. Financial terms weren’t disclosed. 7. FIRMS + FUNDS•Sapphire Ventures, a Palo Alto, Calif.-based venture capital firm, has set out to raise a $150 million opportunity fund, according toan SEC filing.•FUEL Capital, a Burlingame, Calif.-based early stage venture capital firm, raised $75 million for its third fund. 8. SHARE TODAY’S TERM SHEETView this email in your browser.Polina Marinovaproduces Term Sheet, andLucinda Shencompiles the IPO news. Send deal announcements to Polinahereand IPO news to Lucindahere. || Bitcoin Crosses $8,000 as Major Oil Futures See Losses: Friday, May 24 — most of the top 20 cryptocurrencies are reporting moderate gains on the day by press time, as bitcoin ( BTC ) crosses the $8,000 mark again. Market visualization Market visualization courtesy of Coin360 Bitcoin is up over 5% on the day, trading at $8,018 at press time, according to CoinMarketCap . Looking at its weekly chart, the coin is down over 8.42%. Bitcoin 7-day price chart Bitcoin 7-day price chart. Source: CoinMarketCap Earlier this week, CEO of Morgan Creek Capital Mark Yusko said bitcoin should be in every investor’s portfolio. Ether ( ETH ) is holding onto its position as the largest altcoin by market cap, which currently stands at $26.6 billion. The second-largest altcoin, XRP , has a market cap of $16.2 billion at press time. CoinMarketCap data shows that ETH is up over 6% over the last 24 hours. At press time, ETH is trading around $251. On the week, the coin has also seen its value increase by about 4.78%. Ether 7-day price chart Ether 7-day price chart. Source: CoinMarketCap XRP is about 4% up over the last 24 hours and is currently trading at around $0.386 . On the week, the coin is up over 2.3%. XRP 7-day price chart XRP 7-day price chart. Source: CoinMarketCap Among the top 20 cryptocurrencies, the only one reporting losses is bitcoin sv ( BSV ), which is nearly 1% down at press time. At press time, the total market capitalization of all cryptocurrencies is $249.5 billion, less than 7.8% higher than the value it reported a week ago. Total market capitalization 7-day chart Total market capitalization 7-day chart. Source: CoinMarketCap As Cointelegraph reported earlier today, United States telecom and media giant AT&T is now accepting cryptocurrency for paying phone bills online. In traditional markets, the United States stock market is seeing discrete losses so far today, with the S&P 500 down 1.19% and the Nasdaq down 1.58% at press time. The CBOE Volatility Index ( VIX ), on the other hand, has lost a solid 5.61% on the day at press time. Major oil futures and indexes are mostly down today, with WTI Crude up 1.05%, Brent Crude up 1.1% and Mars US down 4.85% at press time. The OPEC Basket is down 0.95% and the Canadian Crude Index seen its value loose 8.22% by press time, according to OilPrices . Related Articles: Bitcoin Dips Below $8K Again as Top Altcoins See Mild Losses Bitcoin Holds Over $8,000 as Top Altcoins See Minor Losses Bitcoin Falls Under $7,900 as US Stock Market Sees Minor Uptrend Bitcoin Approaches $8,000 as Bitcoin SV Doubles in Value || LocalBitcoins, Once a Go-To for Anonymous Bitcoin Transactions, Adds KYC: The Finland-based, peer-to-peer cryptocurrency trading platformLocalBitcoinsreleaseda statementon March 25, 2019, responding to a new act approved by the Finnish Parliament that will require users to verify their identities. This marks a major change for the service, which had been a primary way for users wishing to protect their anonymity to meet others willing to buy or sell bitcoin in person without sharing details about their identities. The Act on Virtual Currency Service Providers was passed alongside an amendment to the country’s existing Act on Detecting and Preventing Money Laundering and Terrorist Financing, also known as its anti-money laundering (AML) law. Together, these regulations will bring cryptocurrency services like LocalBitcoins under the AML law and the supervision of the country’s Financial Supervisory Authority. The changes will come into effect in November, and per the post, LocalBitcoins has framed the new regulations as an advantage for the long-term viability and acceptance of Bitcoin. “The Virtual Currency Service Providers Act will come into full effect in the beginning of November 2019 creating a legal status for crypto assets, which should improve significantly Bitcoin’s standing as a viable and legit financial network,” according to the statement. “We have launched a new account registration process where users can verify basic information already during sign-up, making it easier for the newcomer to find trading partners … and increasing the number of suitable customers to advertisers as well as inhibiting the creation of illegitimate accounts.” The company also said that it was improving its verification systems at users’ requests. This will include four individual account levels per trade and BTC volume, as well as a separate verification process for corporate accounts. “In certain situations we may require enhanced identity verification,” the company’s updated terms of servicestates. “This may include requirements to verify details or sources of funds regarding payments you have made or received during trades on LocalBitcoins as well as bitcoin transactions that you’ve sent or received from your LocalBitcoins account.” Prior to the inclusion of know-your-customer (KYC) measures on LocalBitcoins, new users couldregister an accountand start trading in less than 10 seconds. Now, they apparently have to enter their personal information as it appears on their bank account, along with their country of residence and phone number, which LocalBitcoins will verify. Once all of this personal information is provided, users are granted access to the site and can find people in their area interested in buying or selling bitcoin. The discussion around cryptocurrency regulation has been underway in Finland for quite some time, withYlereportingin January 2018 that the country wanted to introduce “rules that seek to prevent money laundering and organised crime activities.” The Ministry’s legislative advisor, Armi Taipale, said that meeting this goal would require banks and insurance companies to declare all of their cryptocurrency handlings. “In other words, virtual currencies such as bitcoin now allow customers to remain anonymous, so the idea is to bring things out into the open,” she said, per the report. With the new regulations and the result at LocalBitcoins, it appears the country has made a major dent in the anonymous use of cryptocurrency. This article originally appeared onBitcoin Magazine. || Craig Wright and Calvin Ayre’s ‘Troll Hunt’ is Annoying Binance: CCN reportedyesterdayabout the developing Twitter drama surrounding @Hodlonaut, an anonymous Norwegian who used his Twitter account in a crusade against Craig Wright. @Hodlonaut and numerous others in the Bitcoin community believe Craig Wright is a fraud and have been vocal about it.#CraigWrightIsAFraudis a hashtag that has been trending for some time. Wright’s lawyers recently delivered a letter to @Hodlonaut placing blame for the hashtag at the user’s feet and demanding that he apologize publicly or face more significant consequences. Previously, @Hodlonaught was most famous for starting the Bitcoin Lightning Network#LNTrustChainmovement, where a virtual “torch” was passed around crypto Twitter, evenreaching Twitter CEO Jack Dorsey. Craig Wright quit Twitter after saying he would sue anyone who called him a fraud. However, his close associate Calvin Ayre, recently accused of pedophilia by Twitter users, has continued what the pair believe to be an anti-harassment campaign. Chang Peng Zhao, best known as “CZ Binance” to social media followers, has already reached peak @Hodlonaut drama. In a tweet last night, the Binance CEO threatened to delist Bitcoin SV if these antics continue. Read the full story on CCN.com. [Random Sample of Social Media Buzz (last 60 days)] [BOT SCAN - 17/05 04h] $BTC dominance: 56.33% 🤢 🔥 Total bullish score: 📈 5887 pts 🚫 Total bearish score: 📉 5022 pts For more details, please visit https://t.co/XPXD4lOc5A This bot is experimental. Not financal advise. Play safe and #DYOR || #BTCUSD Market #1H timeframe on April 14 at 04:00 (UTC) is #Bearish. #cryptocurrency #bitcoin #btc #crypto #trading #idea #report technical analysis || Who got btc i got paypal need btc dm me || #Bitcoin #BTC #Crypto Bitcoin ETF delayed again & Bitcoin vs Gold... https://t.co/edl1OKPe4o || 2019/05/05 11:00 BTC 636343.5円 ETH 17941.2円 ETC 640.3円 BCH 31855.6円 XRP 33.2円 XEM 5.9円 LSK 192円 MONA 113.8円 #仮想通貨 #ビットコイン #Bitcoin #bitFlyer #Coincheck || 11-May-19, 11:00 PM, BTC-Price: 6161.90, Last buy: 6169.60, Wavetrend: 0.05, Current Trade Return: -0.12pct || Average Bitcoin market price is: USD 7,995.15, EUR 7,094.97 || The Bitcoin $BTC price is actually 7841.01 $USD or 6984.41 $EUR. It's the number #1 cryptocurrency on the Earth with a market capitalization of 138776.81 millions $USD. Last changes : 1h -> -0.05⛔ 24h -> 10.74✅ 7d -> 35.79✅ #bitcoin #price #coinmarketcap #PU15GQC9 || @PiovonoRoseNoir A occhio dovrebbe essere una che ti vuol vendere qualche piattaforma per operare con le criptovalute (tipo bitcoin) stanne alla larga, sono bidoni. || #btc just doesn't want to retrace. Now in a channel. https://t.co/OeOt5tYNjx
Trend: down || Prices: 8805.78, 8719.96, 8659.49, 8319.47, 8574.50, 8564.02, 8742.96, 8209.00, 7707.77, 7824.23
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 2018-05-07] BTC Price: 9373.01, BTC RSI: 55.99 Gold Price: 1312.20, Gold RSI: 42.96 Oil Price: 70.73, Oil RSI: 68.57 [Random Sample of News (last 60 days)] Sears Holdings Is Running Out of Time: Last Thursday, Sears Holdings (NASDAQ: SHLD) reported fourth-quarter results that were better than some analysts feared. The company was particularly proud of achieving positive adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) for the first time in three years. Still, it's one thing to earn a slight "profit" -- excluding major expenses like interest, pension costs, and capital investment costs -- in the seasonally strong holiday quarter. It's another thing entirely to be profitable year-round with no adjustments. There's no sign yet that Sears Holdings is approaching profitability in any meaningful sense. Furthermore, its balance sheet continues to erode rapidly. As a result, Sears remains on a path toward bankruptcy. The bleeding has slowed, but it hasn't stopped Sears Holdings' fourth-quarter adjusted EBITDA of $2 million was roughly in line with the updated guidance that the company published in mid-February, and it was a $63 million year-over-year improvement. For fiscal 2017 as a whole, adjusted EBITDA improved by nearly $250 million but remained far from positive territory, at negative $562 million. While Sears Holdings' losses did recede modestly last year, the company's profit improvement was a fraction of the $1.25 billion in annualized cost savings that Sears supposedly captured over the course of fiscal 2017. That's hardly surprising, though, given that comparable-store sales plunged 13.5% for the full year -- including a 15.6% drop in the fourth quarter. This sales erosion offset the vast majority of the company's cost cuts. The exterior of a Sears full-line store Sears Holdings reported massive sales declines throughout 2017. Image source: Sears Holdings. Sears CFO Rob Riecker noted that the recent rate of EBITDA improvement has continued in the first month-plus of fiscal 2018. However, that's not particularly impressive. First, Sears Holdings faces its easiest comparisons of the year this quarter, as Q1 was the only period in fiscal 2017 during which adjusted EBITDA deteriorated. Second, even if adjusted EBITDA were to improve by $63 million year over year in each quarter of fiscal 2018, full-year adjusted EBITDA would still be negative to the tune of $310 million. Story continues Liquidity problems are getting worse Getting Sears Holdings back to breakeven cash flow is becoming increasingly urgent. At the end of the fourth quarter, it had just $353 million of liquidity, down from $701 million a year earlier. (The company did amend its short-term borrowing basket after the end of the quarter to create an additional $250 million of liquidity.) However, this may not be enough. Sears Holdings' free cash flow tends to be deeply negative in the first three quarters of the year. For example, Sears burned nearly $2 billion in the first three quarters of fiscal 2017. SHLD Free Cash Flow (Quarterly) Chart Sears Holdings Free Cash Flow (Quarterly) , data by YCharts . Sears Holdings has coped with its negative free cash flow by selling and spinning off a variety of assets. Over the past six years, it has reaped a windfall exceeding $8 billion thanks to these moves. However, its asset base is much smaller now -- and most of what remains is pledged as collateral for various debt and pension obligations. Sears did recently receive approval to sell properties appraised at $980 million that had been held as collateral to secure its pension obligations. However, after making $427 million of required pension contributions this year, the net proceeds from selling this real estate will be perhaps $500 million -- and possibly less, as store closures have reduced valuations for lower-tier retail properties. Management has implicitly acknowledged that it is running out of assets to sell by launching an aggressive effort to restructure Sears Holdings' debt. If third-party creditors don't agree to this restructuring, it will be extremely difficult for the company to meet its obligations by the fall. No room for error Sears Holdings may be able to survive 2018 through a combination of asset sales, debt restructuring, and perhaps a lifeline from CEO Eddie Lampert's hedge fund. However, aside from further store closures, management has only identified $200 million of additional cost-saving opportunities. As a result, barring a sudden improvement in sales and gross-margin trends, Sears Holdings will continue burning cash for the foreseeable future. Its financial position is much weaker today than it was a year ago, and its balance sheet is likely to deteriorate further during 2018. This could set Sears up for a final reckoning sometime in 2019. 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 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 . || Why Cloudera, Inc. Stock Gained 13% in March: Stock in data-analytics providerCloudera, Inc.(NYSE: CLDR)gained 13.3% in March, according to data fromS&P Global Market Intelligence. Cloudera shares trended steadily upward during March in anticipation of the company's fourth-quarter and full-year fiscal 2018 earnings report, which was released on April 3. Alas, shares took a brutal 40% haircut during the trading session that followed the issuance of results: CLDRdata byYCharts. Cloudera's woes didn't originate with its actual results. The machine-learning and data-analytics company posted a 42% revenue increase in its fiscal fourth quarter -- three months ended January 31, 2018 -- to $103.5 million. Subscription revenue improved 50%, to $84.3 million. Similarly, full-year revenue rose 41%, to $367.4 million, and full-year subscription revenue jumped 50%, to $301.0 million. However, the company's fiscal 2019 guidance greatly disappointed investors. Cloudera provided an outlook for revenue growth of 20%, in a range of $435 million to $445 million, and subscription revenue growth of 24%, which is projected to fall within a band of $370 million to $375 million. Of these numbers, the drastic reduction in the subscription software growth rate most rattled the market. A sudden slowdown in subscription growth can imply several ills, from fiercer market competition to weakening-use cases for a company's products. And in a cutting-edge field like machine learning, it's imperative for customers to continually find new ways to produce a yield on their analytics-software subscriptions. Image source: Getty Images. During the company'searnings conference call, management attributed the projected diminished growth rates to a loss of focus in marketing to its core customer base during the quarter. This universe of current and potential clients comes from the large enterprise segment of the data-analytics market, which the company dubs the "Global 8,000." Management asserted that it had uncovered its marketing deficiencies using its own software and was refocusing on customers with the highest long-term potential, squarely within the Global 8,000 group. As Cloudera regroups, investors should exercise caution. While the company's balance sheet is relatively healthy, 2019 projections call for continued per-share losses and negative operating cash flow estimated at between $35 million and $40 million. Cloudera needs to reinvigorate revenue growth to provide enough margin to stop its cash burn. Thus, prospective share buyers should monitor the company's newly intensified marketing efforts from quarter to quarter -- and perhaps from the sidelines -- for now. 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 Asit Sharmahas 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. || Mt. Gox and the Surprising Redemption of Bitcoin’s Biggest Villain: The moment that would change the history of Mt. Gox came without so much as a beep. Mark Karpelès, the CEO of what until recently had been the world’s biggest Bitcoin exchange, was finally alone, save for his tabby cat, in his palatial penthouse with a panoramic view of Tokyo. It was the evening of March 7, 2014, and Karpelès had barely slept in the week since Mt. Gox had sought bankruptcy protection , announcing that 850,000 of its Bitcoins, worth some $473 million at the time—and representing 7% of all Bitcoins then in existence—had somehow disappeared. With protesters and camera crews swarming in front of Mt. Gox’s office and the price of Bitcoin in free fall, the usually unflappable Frenchman had been confined to a self-imposed house arrest, subsisting on the buttery pastries he liked to bake and reading the hate mail that flooded in from all corners of the Internet—most of it accusing him of stealing the money himself. Today the Mt. Gox hack remains the worst disaster in Bitcoin’s short history. It wasn’t until his lawyers had gone home for the day that Karpelès could retreat to his computer, and that’s when he noticed the shocking number on his screen. Following his company’s collapse, he’d spent days methodically double-checking Mt. Gox’s old digital wallets, where the secret alphanumeric keys for accessing Bitcoins are stored. One after another—a dozen so far—the wallets had come up empty. But this time, when the blockchain-scanning program finished running after six hours, it had silently served up an unexpected result: He’d found 200,000 Bitcoins, stashed away in an archived file in the cloud—apparently forgotten and untouched for three years. Mark Karpelès in Tokyo’s Shinjuku district. The former Mt. Gox CEO, who once felt safe leaving his laptop on a park bench, refused to set down his bag for fear of theft. In a series of conversations with Fortune , Karpelès shared for the first time the full details of what he says really happened in the final days of Mt. Gox—including his account of how he stumbled on the 200,000 Bitcoins. The surprise discovery would turn out to be, to this day, the only hope Mt. Gox customers have of getting their money back. It’s been proved that the other 650,000 missing Bitcoins were stolen—we now know, by various hackers. But Karpelès continues to be one of the most infamous figures in cryptocurrency. And his legal fate is uncertain, even as new evidence has emerged that largely exonerates him. Story continues Ironically, today Karpelès doesn’t view the retrieval of the 200,000 Bitcoins as a lucky break. They’ve become such a subject of contention, in fact, that he wonders whether it might have been better if they’d remained lost. “At the time, I felt finding these was a good thing for everyone,” recalls Karpelès, now 32, his French accent still strong after nearly nine years in Japan. “But now this is also the main reason why we are stuck fighting.” To many, the belated revelation seemed too good to be true—making the unemotional programmer-turned-mogul look even guiltier. Was he just coughing up his go-bag in an attempt to wiggle out of trouble? Soon, they had even more reason to suspect him: Leaked trading records suggested that what could only be an internal Mt. Gox account—widely known today as the “Willy bot”—was artificially inflating its account balance and using the money to buy Bitcoins. When Mt. Gox ran low on Bitcoins, Willy helped make up the shortfall. Sometimes its trades went the other way, selling borrowed Bitcoins to generate cash. Critics speculate that it was a fraudulent, if failed, exercise to keep Mt. Gox afloat. That suspicious activity by the Willy bot led to Karpelès’s arrest in August 2015 on charges of manipulating electronic data; he admitted in court last summer to running what he called the “obligation exchange” but disputes doing anything illegal. After spending almost a year in jail, Karpelès is currently on trial in Tokyo, facing criminal allegations such as embezzlement and breach of trust, all unrelated to the missing Bitcoins. But it was an unforeseen twist that today is causing Karpelès the greatest angst. Between the time Mt. Gox shut down and when it entered liquidation in April 2014, the price of Bitcoin had plummeted more than 20% to $483. It would be over two and a half years before Bitcoin would regain its previous high —long enough that many Mt. Gox victims didn’t even bother filing a claim for what they considered an insignificant sum. Then early last year, Bitcoin finally broke its old record. By late May, it was trading at nearly $2,200, making Mt. Gox’s remaining Bitcoins—202,185 to be exact—worth more than everything it owed in claims. When the Bitcoin price peaked at $20,000 in December, the value of Mt. Gox’s assets (by then including Bitcoin derivatives such as Bitcoin Cash) ballooned to $4.4 billion—nearly 10 times the amount Mt. Gox said it lost in the first place. “The fact that you have a bankruptcy where the only asset that it owns goes up by 5,000%, that’s pretty unprecedented,” says Daniel Kelman, a lawyer and Mt. Gox creditor who spent a year in Tokyo working on the case. Mark Karpelès (second from right) announcing Mt. Gox’s bankruptcy in 2014. After months studying Japan’s bankruptcy code while in solitary confinement, Karpelès knew there was a wrinkle: Under the law, most of that excess would return to shareholders of Mt. Gox, of which he held 88%. At current prices, the windfall would make him a billionaire. It would also mean an interminable nightmare of lawsuits and threats that Karpelès—who is also in personal bankruptcy—is desperate to avoid. He says he’d happily give the money back if it came to him, but the estimated 60% tax triggered in the process would be catastrophic. “I never expected to get anything out of this,” Karpelès tells me when we meet in Tokyo in March. “It would bring more trouble than anything.” We’re on the second floor of a Japanese café, in a stuffy meeting room that Karpelès says is not much bigger than his jail cell. Deprived of a computer behind bars, he passed time by measuring the room using the length of his notebook. (After his release, Karpelès sent friends a chart of the 70 pounds he’d lost while detained.) It’s the first day in Tokyo that finally feels like spring, cherry blossoms in bloom, but he has holed up here in the café because it’s roughly equidistant from the offices of his various lawyers, as well as the bankruptcy trustee, whom he meets with regularly out of a sense of “duty” to his former customers. He’s been so busy, he says, he didn’t have time to shave that morning. Karpelès took control of Mt. Gox—the name is an acronym for Magic: The Gathering Online eXchange, after the trading card game that inspired the original site—in 2011 from founder Jed McCaleb. Employees don’t remember Karpelès ever seeming fazed about anything: He took meetings from a vibrating massage chair and churned out combs using a 3D printer he’d bought for the office. His hallmark reply to questions: “Should be fine.” But he’s lately developed a sense of gallows humor uncharacteristic of his Mt. Gox days. Even if he wanted to buy Bitcoin today, he doubts he could find an exchange that would take his money, he laughs, and notes that it’s been a few months since he’s received any death threats—“a new record.” He turns serious, though, when he recounts the sleepless nights in February 2014 when he says he first discovered that all of Mt. Gox’s Bitcoins were missing. “I think this really is the worst experience for anyone to have in life,” he says. Still, he’s not sure he could have done the job better. “If I knew at the time what I know today, I would have done things differently, of course,” he says with a practiced tone. “But based on the information I had at the time, and the situation at the time, I still think that I’ve done the best I could do with what I had.” The question of what Karpelès knew, and when, though, remains more of a mystery than even who stole the coins. Bitcoin’s public ledger, or blockchain, allows anyone to trace the path of transactions, showing the wallets where Mt. Gox’s Bitcoins went. But the same blockchain analysis, multiple experts have confirmed, has also revealed an unsettling fact: By mid-2013, Mt. Gox had already lost all its Bitcoins—eight months before it admitted so publicly. Kolin Burges, a cryptocurrency trader, protesting the loss of Mt. Gox’s Bitcoins. The timing of this insolvency, analysis shows, coincided with the Willy bot kicking into high gear—perhaps providing a hint as to Karpelès’s true motivations. “I feel that this is a reaction to this revelation that okay, all the money is gone,” says Michael Gronager, CEO of Chainalysis, which was hired by the Mt. Gox bankruptcy trustee to investigate the Bitcoins’ disappearance. Yet it’s also why he doesn’t believe Karpelès was planning to run away with the 200,000 Bitcoins. “I think that had he found them before he went bankrupt, he would never have gone bankrupt,” says Gronager. Rather, he says, Karpelès would have used the hoard to cover his losses. When Mt. Gox froze Bitcoin withdrawals in 2014, a customer named Kolin Burges hopped a flight from London to Tokyo. For more than two weeks, until Mt. Gox declared bankruptcy, he kept vigil outside the exchange’s headquarters, holding a sign reading, “MTGOX WHERE IS OUR MONEY?” Other protesters soon joined him, demonstrating the frustration of Mt. Gox customers worldwide. Kim Nilsson was just as vexed, but standing in the snow wasn’t his style. A modest Swedish software engineer with a goatee and a quiet voice, Nilsson, who also owned Bitcoins at Mt. Gox, had never before worked on blockchain technology. But he had a reputation for getting to the bottom of the toughest software bugs; in his off-time, he’d been known to beat all the levels of Super Mario Bros. 2 in an afternoon sitting. And that’s how he approached Mt. Gox: “It was basically just the world’s biggest puzzle at the time—like whoever solves this, imagine the recognition.” Kim Nilsson, the software engineer who cracked the Mt. Gox case, standing on the street near Shinjuku Station in Tokyo. He teamed up with some other Mt. Gox customers to launch WizSec, a blockchain security firm dedicated to cracking the case. But while the company quickly dissolved, Nilsson stayed on the case in secret, teaching himself blockchain analysis and painstakingly tracing the money stolen from Mt. Gox. Although Nilsson started off investigating Karpelès’s role in the theft, he soon realized the CEO was just as eager as he was to know what happened. At a time when Karpelès needed friends most, the WizSec team scored an invite to his apartment by offering to bring the Frenchman the ingredients he needed to bake his famous apple quiche. Soon, Karpelès was feeding Nilsson internal Mt. Gox data that could help solve the case. “I wish I had stolen the money, because then I could just give it back,” Karpelès told them at the time. Over the next four years, Nilsson estimates he spent a year-and-a-half’s worth of full-time hours pursuing the Mt. Gox hackers. He’s never been paid for his work; his 12.7 Bitcoin claim at Mt. Gox makes him one of its smallest creditors. To J. Maurice, who helped found WizSec but left the company early on and was not involved in the investigation, Nilsson’s effort epitomizes the virtues of Bitcoin—a decentralized system free of government control, which relies instead on individual users to sustain it. “Kim is humble, he doesn’t brag, he doesn’t even want to get rich. He’s just working hard on something for years as his passion project,” Maurice says. “That’s what Bitcoin is.” By early 2016, Nilsson had a suspect. As he tracked the stolen funds, he saw that, of the 650,000 Bitcoins reported stolen from Mt. Gox, 630,000 had gone straight into wallets controlled by the same person. That person also had an account at Mt. Gox, associated with the username WME. Then Nilsson stumbled across an old post in an online Bitcoin forum in which someone with the handle WME had thrown a tantrum, complaining that another cryptocurrency exchange had frozen his funds. “Give [me] my CLEAN MONEY!” read the post. In the process, WME dropped clues that he owned some of the Bitcoin wallets in question. But the big break came when the same user posted a letter from his lawyer, his first and last name visible for the whole world to see. Nilsson, as he routinely did with his findings, dashed off an email to Gary Alford, a special agent with the IRS in New York who has helped catch cybercriminals. Then one scorching day last July, police stormed a beach in Greece to arrest a Russian citizen vacationing with his family. U.S. federal prosecutors charged Alexander Vinnik , a 38-year-old IT specialist, with laundering 530,000 of the stolen Mt. Gox Bitcoins through his WME wallets and other accounts. They also accused him of helping to run the exchange BTC-e, whose primary purpose was allegedly to launder money. It is plausible, investigators say, that BTC-e was founded specifically to launder funds stolen from Mt. Gox. Blockchain analysis shows that the hack that devastated Mt. Gox began in autumn 2011, around the time BTC-e started up. Keys to Mt. Gox’s “hot wallet”—its online Bitcoin repository—were stolen and copied, compromising the exchange’s deposit addresses. So for the next two years, in nine out of 10 instances, coins were being stolen as soon as they came in, says Chainalysis’ Gronager, who is also a creditor: “It meant that you had a hole in the bottom of the well, and someone was just draining money.” Alexander Vinnik (center), the Russian accused of laundering at least 80% of Mt. Gox’s stolen Bitcoins. Karpelès claims he never noticed because the hackers stole small amounts at a time, and the balances generally seemed to move upward. “Bitcoin didn’t exactly decrease,” he says. “It’s just that they didn’t increase as much as they should.” Nilsson, who believes he has convincingly linked Vinnik to at least 100,000 more Mt. Gox Bitcoins than the feds allege, still doesn’t know whether he helped the government’s investigation or simply confirmed its conclusions. With Vinnik fighting extradition from Greece and five outstanding defendants whose names remain redacted in the U.S. indictment, the IRS won’t comment on the “active and ongoing” investigation. But Kathryn Haun, a former federal prosecutor who signed off on the indictment, says Vinnik’s use of Bitcoin helps clearly connect him to the crime: “At first blush what seemed unsolvable turned out to be traceable through the use of digital currency.” For Karpelès, Vinnik’s arrest reinforced a long-held theory: that Russian Bitcoin exchange administrators were behind a series of ­denial-of-service and other cyberattacks that hit Mt. Gox in 2011. Says Karpelès, “What he did, Mt. Gox is a victim of this, which means that all creditors are victims of this, and I am too a victim of this.” Vinnik, who has denied the charges, has not been charged with stealing from Mt. Gox. But the magnitude and duration of his involvement points to some familiarity with the thieves whose profits he was allegedly laundering: “I assume at least he knows where to send the check,” says Nilsson. Still, there’s an ironic punch line to the case: Because the stolen Bitcoins were sold right away, allegedly by Vinnik and long before Mt. Gox disclosed the hack, victims lost much more, in dollar value, than the hackers ever made—which, according to Chainalysis, was only about $20 million. And as soon as the Bitcoins were converted to cash, the blockchain trail was broken. That means that even if authorities seize Bitcoins from the suspects, there won’t be anything to prove they’re from Mt. Gox. Sean Hays, a creditor in Arizona who says his 338 Bitcoin claim would be “life-changing,” adds, “I’ll be glad to have part of it back, but I think there will always be the hunt for where’s the rest?” But for Burges, the key question that inspired his protest has finally been answered. “We know where the coins went, and we won’t get them back,” he says. “As far as I’m concerned, it’s solved.” For almost four years, Josh Jones assumed he’d eventually receive his rightful portion of his nearly 44,000 Bitcoins locked inside Mt. Gox. By mid-2017, Bitcoin’s price was soaring, and Mt. Gox had enough to pay out the $430 million it owed in claims several times over. Then last September, Mt. Gox trustee Nobuaki Kobayashi, a top restructuring lawyer also representing Takata in the airbag-maker’s bankruptcy, broke the news: Under Japanese bankruptcy law, the value of creditors’ claims were capped at what they were worth back in 2014: $483 per Bitcoin. “That’s just crazy,” says Jones, who held most of the coins on behalf of his clients at Bitcoin Builder, the service he built to facilitate arbitrage trading at Mt. Gox in its final weeks. “That can’t be how it’s going to work out.” But while there was little Jones could do back home in Santa Monica, another major creditor took it upon himself to ensure the Bitcoins would be fully divvied up among Mt. Gox victims. Richard Folsom, an American who worked for Bain & Co. in Tokyo before founding one of the first private equity shops in Japan, hired the biggest Japanese law firm and came up with a plan: What if Mt. Gox wasn’t technically bankrupt anymore? Their petition for “civil rehabilitation” of Mt. Gox, filed in November, is now pending before the Tokyo District Court; an outside examiner recommended in its favor in February. Shin Fukuoka, the partner at Nishimura & Asahi leading the effort, is confident it will be approved, as early as the end of April. “We think that the court has sufficient understanding about the problems in the case of proceeding with bankruptcy,” Fukuoka says. Those problems, of course, include the fact that the majority of Mt. Gox’s assets would otherwise accrue to Mark Karpelès . “Such an outcome would be a travesty,” says Jesse Powell, CEO of Kraken, the San Francisco–based Bitcoin exchange appointed to help investigate and distribute Mt. Gox claims (and himself a substantial creditor). If Fukuoka’s plan works, it would be the first time in Japan that a business “abolished” in bankruptcy was rehabilitated, he says: “These are very unique circumstances.” In a traditional civil rehabilitation, once the court gives the green light, it typically takes six months for the plan to be finalized—meaning optimistically, creditors could begin to get paid, preferably in Bitcoins, as soon as late this year. Fukuoka says he’s also considering mandating further investigation into the stolen Bitcoins as part of the rehab plan, in hopes more will be recovered. (A $75 million lawsuit from CoinLab that has held up the bankruptcy process could be sidestepped by setting aside a legal reserve fund in the meantime, he adds.) It would be an extraordinary outcome for creditors like Thomas Braziel, managing partner of New York–based hedge fund B.E. Capital Management, who has bought up $1 million worth of claims at 80¢ on the dollar, believing he will turn a profit no matter what. “Of course, if the rehabilitation happens, it’s a bonanza, and you make eight, nine, 10 times your money,” Braziel says. That would be a relief to Mt. Gox’s disgraced CEO, who says he’s had enough of the cryptocurrency business to last a lifetime: “The only thing I’m touching related to cryptocurrency is how to solve this bankruptcy. Nothing more,” says Karpelès. Besides, he has lost faith in the initial promise of digital money: “Bitcoin right now is, I believe, doomed.” Since his release from jail two summers ago, Karpelès has been moving apartments every few months out of concerns for his own safety. During three months of all-day interrogations while detained, he refused to confess to the accusations Japanese authorities threw at him—including, at one point, that he was Satoshi Nakamoto, Bitcoin’s mysterious founder. Still, despite what he feels is a weak case against him, he thinks the odds are he’ll be found guilty, at least during this first trial; Japan, which has a more than 99% conviction rate, is also one of a few countries that allows prosecutors to appeal an acquittal twice. In a year or two, he could be sent back behind bars. “After I came out, I felt like in a kind of dream, like I didn’t feel things were real,” he says, over a slice of cake with cream and cherries. “Even today I’m not sure yet.” Mark Karpelès on the roof of the Toho Cinema building in Tokyo’s Shinjuku district. Karpelès, though, is not on trial for what even his sympathizers fault him for the most: lying about Mt. Gox’s insolvency. “When Mt. Gox didn’t have any of the coins, he was getting new deposits from other customers to pay off other people—kind of like a Bernie Madoff,” says Kelman, the lawyer. For now, Karpelès, who’s never been to the United States (and isn’t allowed to leave Japan while on trial), is leveraging his mastery of Japanese and the country’s formal business customs. The arrest of Vinnik has made it easier to find work, he says, by lifting some blame from Karpelès. Even so, the taint of Mt. Gox follows him. “He is unhirable,” says Mike Kayamori, the CEO of Japanese cryptocurrency exchange Quoine. Yet earlier this year, Mark Karpelès landed a big new job: chief technology officer at London Trust Media, a Denver-based corporation that runs the largest virtual private network (VPN) service in the world. It has recently been expanding into cryptocurrency-related ventures. “I am more than willing to give a second chance to Mark in this fight’s critical hour,” says Andrew Lee, cofounder and chairman of London Trust Media, who also briefly ran Mt. Gox’s U.S. operations. Even if Mt. Gox’s rehabilitation succeeds, the company is unlikely to take another voyage. Still, that hasn’t stopped Karpelès from dreaming up schemes to get back the missing 650,000 Bitcoins. Even if the original coins can’t be retrieved, perhaps Mt. Gox could be revived long enough to generate revenue to finally make creditors whole; Karpelès also says he’s found one exchange that seems interested in pledging some of its own profits to victims. But others, such as Kraken’s Powell, say the hole is simply too deep to fill. Besides, even if Mt. Gox did reopen, who would want to trade there? Adds Burges, the Mt. Gox protester, “It’s like having another ship called the Titanic. ” For him, closure means letting the rest of the Bitcoins go down with the ship. || BP's Earnings Ride Higher Oil Prices to Best Results in Three Years: Afterending 2017 on quite the high note,BP(NYSE: BP)kept the good times rolling: It beat Wall Street's expectations for another quarter, and promised to deliver another round of capital projects that will significantly boost production in 2018. With oil prices on the rise and BP's other businesses performing surprisingly well, this year promises to be an encore performance for investors. Here's a look at BP's most recent earnings results, and what investors can expect from the oil giant in the upcoming quarters. [{"Metric": "Revenue", "Q1 2018": "$69.1 billion", "Q4 2017": "$70.0 billion", "Q1 2017": "$56.3 billion"}, {"Metric": "Net income", "Q1 2018": "$2.53 billion", "Q4 2017": "$63 million", "Q1 2017": "$1.49 billion"}, {"Metric": "Earnings per ADS (GAAP)", "Q1 2018": "$0.74", "Q4 2017": "$0.01", "Q1 2017": "$0.44"}, {"Metric": "Operating cash flow", "Q1 2018": "$3.64 billion", "Q4 2017": "$5.9 billion", "Q1 2017": "$2.11 billion"}] DATA SOURCE: BP EARNINGS RELEASE. ADS = AMERICAN DEPOSITARY SHARE;GAAP= GENERALLY ACCEPTED ACCOUNTING PRINCIPLES. As is the case with mostbig oil companies in the first quarter, BP's cash flow numbers look surprisingly light compared to the gains it made in net income. As management noted, it's a product of building up a lot of working capital in the business that tends to wind down in the second half of this year. Adjusted for working capital, BP's cash flow was closer to $7 billion. With oil prices on the rise, it's really no surprise that BP's income results are following suit. Pretty much all the gains in net income came from the upstream side of the business as both production and realized prices increased. What is surprising, though, is that the company's downstream earnings remained surprisingly consistent. Typically, earnings from downstream segments start to decline as oil and gas prices rise. Data source: BP earnings release. Chart by author. The reason BP was able to maintain downstream results was some unique investments that allow it to take advantages of different crude prices. Over the past few years, the company invested boatloads of money into its Whiting, Indiana refinery so it could process hard-to-refine oil sands out of Canada. The price of this particular type of crude has been declining lately, because supply is outstripping transportation and refining capacity. So even though feedstock prices, in general, are on the rise, BP can offset those increases with lower Canadian crude prices. • Overall production for the quarter was 3.73 million barrels of oil equivalent per day (BOE/D), a 5.7% increase from this time last year. Gaining 5.7% in production from that kind of base is good, but it gets even better. Excluding BP's interest inRosneft, production was 2.6 million BOE/D, which was up an even more impressive 9.1% compared to the prior year. • BP announced that it had completed its Atoll gas project in Egypt, the first of six major capital projects slated to go live this year. Management noted that the project was completed both under budget and seven months ahead of schedule. • The company gave the green light for two major new projects: phase 2 of the Khazzan gas project in Oman and phase 2 of its offshore India holdings. Combined, the two will increase production by 205,000 BOE/D, mostly in natural gas. BP also sanctioned the development of two fields in the North Sea that should add another 30,000 barrels per day of oil. • Management also announced a strategic alliance withPetrobrasfor potential investments in all parts of the oil and gas business, both inside and outside of Brazil. This isn't uncommon, though, as many companies have been signing deals with Petrobras lately for similar development projects. So it's not exactly clear what this alliance grants BP compared to others. Image source: Getty Images. Oil prices have been on the rise in recent quarters, which may entice the people pulling the purse strings to start spending more on growing the business. According to CFO Brian Gilvary, though, BP plans to maintain spending discipline for a while longer: With growing operating cash flow, we continue to expect the organic breakeven for the Group to average around $50 per barrel on a full dividend basis in 2018, reducing steadily to $35-40 per barrel by 2021 in line with growing free cash flow. And as we look beyond 2018 we continue to expect to grow returns as we grow our earnings within our disciplined investment framework. BPdata byYCharts. One of the most encouraging things about BP's investment plans is that the company will be able to bring on a lot of additional production over the next three or four years, while maintaining a relatively modest capital spending plan. That means management should haveplenty of cash to give back to investors, in the form of either more share buybacks or dividend increases -- or both. The question that should be a slight concern is whether the company is spending enough for its next wave of projects, which would likely go live five to seven years from now. The two projects that were recently given final approval should give a little clarity about that plan, but don't be surprised if we start to see management start to add a little extra to its exploration budget either this year or next. For now, though, it looks like BP is going to have a very nice run here in 2018, and possibly into 2019, with all the new major capital projects starting up. 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 Crowehas 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. || 3 Top Dividend Stocks With Yields Over 5%: Chasing yield can be a dangerous game. Instead, investors must look at the underlying fundamentals of a business to uncover whether the company can afford to continue paying its dividend in the future. Many times, those stocks sporting the highest yields are those with the riskiest dividends. So, we asked three Motley Fool investors to highlight a dividend-paying stock they liked that sported a yield north of 5% but also offered a sound business that should support the payout. They identifiedTerraForm Power(NASDAQ: TERP),AT&T(NYSE: T), andCedar Fair(NYSE: FUN)as all fitting the bill. Image source: Getty Images. Travis Hoium(TerraForm Power):Wind and solar farms can be some of the most stable investments in energy because they have a fixed cost up front and are backed by long-term contracts to sell energy to customers like utilities and businesses, known as power purchase agreements. For investors, the projects look more like bonds than traditional energy assets, with very little volatility in cash flows and very predictable returns long term. TerraForm Power is one of the biggest renewable energy owners in the country with 2,606 MW of wind and solar projects. The average power purchase agreement has 15 years remaining, giving the company predictable cash flows well into the 2030s. It's also likely that TerraForm Power will keep growing its dividend long term. About 15% to 20% of the free cash flow, known as cash available for distribution, will be retained by TerraForm Power and used to fund acquisitions that will drive long-term growth. The combination of predictable cash flows and organic growth is a great combination for any stock. Management targets a 5% to 8% dividend increase each year on top of the $0.76 per share dividend today, a current yield of 6.9%. With wind and solar installations growing worldwide and more projects in need of financing from entities like yieldcos, TerraForm Power is in a great position to buy projects opportunistically and rely on stable cash flows to fund the dividend. It may not be the most exciting stock, but TerraForm Power is agreat stock for investors looking for a stable dividend for their portfolio. Image source: Getty Images. Rich Smith(AT&T;):I don't know about you, but I can't boot up my Roku these days without being bombarded with ads from AT&T; and itsDirecTV subsidiary-- usually one after the other. So when you ask me to name a top dividend stock yielding over 5%, AT&T is naturally the first name that comes to mind. Priced at just 6.6 times earnings, AT&T is an undeniably cheap stock. (The average stock on the S&P 500 costs something more like 24 times earnings.) Its dividend yield of 5.7% is nearly three times richer than the average 2% payout on the S&P -- and with a payout ratio of only 41%, it's a dividend AT&T can easily afford to pay. What I like best about AT&T, though, isn't just its cheap price and its generous dividend yield -- it's the company's business smarts. Think about it: The biggest challenge for any telecommunications provider is amassing enough bandwidth to keep its customers supplied with TV, internet, and phone service, and doing so at an affordable cost. AT&Tregularlyspends more than $20 billion a year on capital investment for just this purpose. By buying DirecTV in 2014, though, AT&T made a lot of its bandwidth problems go away, opening an avenue to shunt TV consumers over to satellite TV consumption, thereby freeing up bandwidth in its cable pipes to carry more internet service via U-verse, obviating the need to lay as much "pipe" to keep up with bandwidth demand. (Phone service is primarily provided by cell tower.) How is that working out for AT&T? Here's a hint: Last quarter, profits surged 681%. Image source: Getty Images. Rich Duprey(Cedar Fair):Few investments offer as much fun when using their product or service as does amusement park operator Cedar Fair, which also offers a healthy dose of growth and profit. We're approaching the months that serve as the wheelhouse for Cedar Fair, which just opened its Twisted Timbers hybrid coaster at its Kings Dominion park, the first new coaster there in eight years, while the flagship Cedar Point park has upgraded its Mean Streak wooden coaster. Such attractions serve to bring in more guests, and Cedar Fair drew 25.7 million guests across all of its parks in 2017, up 2% year over year and arecord high, despite battling extreme weather patterns earlier in the year. Annual pass sales for the current year are running 10% ahead of last year. Yet the theme park operator presents a great investment opportunity. With a dividend that currently yields 5.4%, Cedar Fair's stock is down 8% from the year-ago period and is essentially flat year to date. Shares trade at a reasonable 23 times earnings and 17 times next year's estimates, and management has said it remains "committed to a steady 4% increase in our annual distribution rate going forward." Income-seeking investors who are looking for growth from their stocks, not to mention a bit of fun, too, can't go wrong with Cedar Fair. 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 Rich Dupreyhas no position in any of the stocks mentioned.Rich Smithhas no position in any of the stocks mentioned.Travis Hoiumowns shares of AT&T.; The Motley Fool recommends Cedar Fair. The Motley Fool has adisclosure policy. || 3 Growth Stocks for Successful Investors: There are a variety of approaches to investing in growth stocks. Latching onto the most compelling, high-profile names is likely the most popular, but there are a number of paths to prosperity. Successful investors know that sometimes it takes looking beyond the headlines and digging a little deeper to identify those opportunities that the average investor might overlook. With that in mind, we asked three Motley Fool contributors to identify growth stocks with intriguing potential that might not be on the radar of most investors. They pickedShopify Inc.(NYSE: SHOP),Atara Biotherapeutics, Inc.(NASDAQ: ATRA), andCriteo S.A.(NASDAQ: CRTO). Image source: Getty Images. Danny Vena(Shopify):Sometimes a stock has more going for it than a groundbreaking product, a new approach, or a novel solution to a problem. The best-case scenario is when a company can do all of these, while riding a broader secular trend to success. E-commerce is undoubtedly one of the biggest trends around, expected to grow from $2.3 trillion worldwide in 2017 to more than $4.88 trillion by 2021. As gargantuan as those figures are, the simple truth is that online sales are still in their infancy. For the fourth quarter of 2017, e-commerce accounted for just 8.9% of total U.S. retail sales, more the double the 3.5% from a decade earlier. Shopify is perfectly positioned to benefit from that trend by making it easier for businesses to establish an online presence without the need for major expenses or technical expertise. The company provides a plug-and-play solution that allows small and medium-sized businesses to customize a website that's right for their customers. The platform also handles many of the details like order tracking, payments, and invoicing, freeing entrepreneurs from these necessary but tedious tasks. Image source: Shopify. The company is succeeding by filling a critical need, as evidenced by the 609,000 merchants in 175 countries that avail themselves of Shopify's services. Some of its earliest merchants were so successful, the company expanded its services to include enterprise-level businesses. That offering struck a chord as well, and now hosts more than 3,600 big-name companies. The stock has followed the company's success, skyrocketing 365% since Shopify went public in early 2015. The company has produced 11 consecutive quarters of year-over-year revenue growth that has exceeded 70%. It has yet to generate a profit due to its relentless focus on growth, but I believe this is positioning Shopify to succeed for years to come. George Budwell(Atara Biotherapeutics):Atara Biotherapeutics is a small-cap biotech stock that's seen its share price more than double in value this year. Despite this steep rise, however, I think this red-hot stock is still a strong buy. The core issue is that Atara's off-the-shelf chimeric antigen receptor T cell (CAR-T) therapy called tabelecleucel could unlock the tremendous promise of this rapidly emerging field. Long story short, CAR-T developersNovartisandGilead Scienceshave had some serious problems commercializing their first-generation CAR-T therapies due to their intense manufacturing processes. Atara's candidate, on the other hand, is far easier to manufacture, leading to quicker turnaround times for patients. As such, it's not surprising that biopharma heavyweights likePfizerhave been shying away from copying Novartis or Gilead's CAR-T platforms, and have instead begun to mimic Atara's more user-friendly approach. In fact, Atara may end up with the first CAR-T product that can be manufactured at scale to truly meet the intense demand for these groundbreaking therapies. Image source: Getty Images. Looking ahead, Atara is presently waiting on top-line data readouts for its twolate-stage studiesassessing tabelecleucel in Epstein-Barr virus-associated post-transplant lymphoproliferative disorders in patients who fail to respond toRoche's rituximab. If successful, the company plans on filing for the therapy's regulatory approval in Europe in 2019. While there's no way to know for sure if Atara's novel pipeline can strike gold, the company is well-positioned to leapfrog some of its chief competitors if things do go as planned. As a result, I think it might be worth adding at least a few shares of this high-growth biotech stock to your portfolio right now. Daniel Miller(Criteo):When investors pour their hard-earned cash into stocks, it's understood there's a certain amount of unavoidable risk. Successful investors are savvy about mitigating risk and, after a solid fourth quarter that eased some concerns, Criteo once again looks like a smart growth stock to own. Criteo is a leading advertising technology company in the digital market space selling on a cost-per-click basis, enabling advertisers to develop multichannel, cross-device, and targeted marketing campaigns. Towards the end of 2017, however,the company faced adversitywhenApple's intelligent tracking prevention (ITP) technology prevented Criteo from reaching Safari browser users, forcing management to temper revenue and adjustedEBITDAguidance. Image source: Getty Images. Criteo acknowledged the hurdle and was forced to adapt, adding 820 net clients during the fourth quarter and generating revenue excluding traffic acquisition costs (ex-TAC) of 20% in constant currency. Its adjusted net income jumped 47% to $82 million, quarterly cash flow from operations jumped 10%, and best of all, the better-than-expected fourth quarter helped ease concerns about Apple's ITP having a significant long-term impact. It's quite possible the fears were entirely overblown, as many iOS users use browsers other than Safari. At a time when many were fearful of owning shares of Criteo, successful investors might have an opportunity to jump in on a solid growth stock selling for at a meager forward price-to-earnings ratio of 11.8, per Morningstar.com estimates. 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 Daniel Millerhas no position in any of the stocks mentioned.Danny Venaowns shares of AAPL, GILD, and Shopify.George Budwellowns shares of PFE. The Motley Fool owns shares of and recommends AAPL, GILD, and Shopify. The Motley Fool has the following options: long January 2020 $150 calls on AAPL, short January 2020 $155 calls on AAPL, and short May 2018 $85 calls on GILD. The Motley Fool recommends Criteo. The Motley Fool has adisclosure policy. || 26% of Seniors Say Life Is Worse in Retirement: When we think about retiring, we like to imagine ourselves kicking back and snagging a piece of the good life. Unfortunately, things don't always shake out that way. In fact, 26% of seniors retired for 10-plus years and 27% of recent retirees say their lives are worse now than they were during their working years. That's the latest from the new Nationwide Retirement Institute study, which also found that 75% of recent retirees blame a lack of income for their negative feelings. Meanwhile, 85% of long-term retirees cite high living costs as a detriment to enjoying their golden years. Also read: 9 tips to get rich and successful If you want to avoid finding yourself similarly dissatisfied with retirement, you'll need to take steps to ensure a healthy income stream. And that means saving aggressively during your working years and not relying too heavily on Social Security. Older man sitting outdoors, looking sad IMAGE SOURCE: GETTY IMAGES. You can't live on Social Security alone A big reason why so many seniors struggle in retirement is that they assume Social Security will cover the bills, and therefore don't save when they're younger. But that's just one of many misconceptions about Social Security that can hurt you. Contrary to what you may have been led to believe, you cannot live on Social Security income alone. At best, those benefits will replace about 40% of the average worker's pre-retirement income, but most seniors need roughly double that amount to keep up with expenses. Furthermore, Social Security has, at least in recent years, been doing a poor job of keeping up with inflation. Annual cost-of-living increases over the past half-decade have been minimal or nonexistent, and what little extra money seniors manage to get going forward likely will be swallowed by rising Medicare premiums before it lands in their pockets. Therefore, relying on Social Security by itself to pay the bills in retirement is essentially setting yourself up to be miserable and financially stressed. And frankly, you deserve better. Story continues Save, save, save If you'd rather make the most of your golden years rather than stress your way through them, you'll need to do some serious saving during your career. If you're younger, you have a clear advantage: time. That's because the longer your savings window, the more you'll get to benefit from compounding . Here's how that might work. Imagine you give yourself 30 years to save for retirement and commit to socking away $500 a month. At the end of that period, you'll have put $180,000 into your retirement plan. But if you invest that money heavily in stocks and score an average annual 7% return, which is actually a couple of points below the market's average, you'll wind up with about $567,000 to work with. That's a $387,000 gain. If you wait longer, however, you won't benefit quite as much from compounding. You'll still grow your savings, but the results won't be nearly as impressive. Case in point: Investing that $500 a month over just 15 years will result in an out-of-pocket contribution of $90,000 and an ending balance of $151,000, assuming that same 7% return. And while a $61,000 gain is better than nothing, it's not nearly as remarkable as the $387,000 we just saw. Now, if you're wondering where the money to save will come from, it's simple: Cut back on expenses and stash whatever cash you don't spend in your retirement plan. Will that take work and discipline? Yes. Will it be worth it in the long run? Yes. Remember, you don't necessarily need to make drastic changes to drum up some decent retirement savings. If you drive an ordinary car instead of a luxury vehicle, limit the extent to which you dine out, and cancel the pricey gym membership you rarely use, you might free up $500 a month in your budget to put away for the future. Another option? Look at a side hustle , which might allow you to generate extra income without having to sacrifice some of the indulgences you've come to enjoy in your day-to-day life. No matter what steps you take to save for retirement, make it a priority to avoid winding up miserable and cash-strapped down the line. Otherwise, you might come to find yourself in a rather sorry state when your golden years roll around. 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 . || Trump's Russia tweetstorm is just his latest market-disrupting action as the Dow whipsaws: Screen Shot 2018 04 11 at 11.01.22 AM Marketwatch President Donald Trump roiled markets once again Wednesday with tweets that escalated tensions with Russia. Traders shrugged off monthly US consumer price data that was in line with economist estimates. The early losses marked a reversal of two days of gains driven largely by reduced fears around a global trade war. Follow the Dow Jones industrial average and Nasdaq 100 indexes. US stocks tumbled Wednesday as President Donald Trump escalated tensions with Russia through a series of tweets , rattling investor nerves at a time when fears of a global trade war were starting to ebb. Equity futures extended losses just before 7 a.m. ET as Trump tweeted for Russia to "Get ready" because missiles would "be coming, nice and new and 'smart!'" Trump has been weighing whether to strike Syria over a suspected chemical weapons attack of a rebel-held town Saturday that left dozens of people dead and that the US and local aid groups have blamed on the Russian-backed Syrian government. The stock decline worsened on a second Russia-focused tweet from Trump roughly 45 minutes later, and premarket losses reached as much as 1.2%. In early regular trading, the Dow Jones industrial average sank as much as 0.9%, or 212 points, while the S&P 500 lost 0.1%. The more tech-heavy Nasdaq 100 index rose 0.2% after sliding 0.3% earlier. As Trump's latest tweets dominated headlines, US investors shrugged off a Labor Department report showing US consumer prices in March were in line with economist estimates. Traders have been keenly focused on inflation readings in recent months as they search for any signals that the Federal Reserve will alter its pace of monetary tightening. Yet while the degree of Wednesday's stock market decline may seem jarring, it should be noted that the Dow surged almost 500 points over the two days prior, meaning the decline hasn't even erased half of that. Overall, the market's recent propensity for large moves shows the low-volatility doldrums of 2017 are over and suggests multihundred-point Dow fluctuations are the new normal. Story continues Of course, Trump hasn't helped matters much, and the surge in volatility is a clear byproduct of his recent actions. Before Wednesday's escalation with Russia, whose ambassador to Lebanon had earlier suggested Russia would retaliate to any US strike in Syria, the president had been locked in a trade staredown with China for weeks, stoking investor fears of a trade war. The chart below shows just how choppy trading has gotten in US equities in recent weeks amid Trump's geopolitical maneuverings. Screen Shot 2018 04 11 at 10.14.07 AM Business Insider / Joe Ciolli, Marketwatch It's also possible that the selling is being driven by a shift in investment tactics that has been highlighted by Bank of America. After years of riding the "buy the dip" strategy to success, investors seem to have flipped the switch and are now " selling the rip " — or using periods of strength as an excuse to offload holdings. Check out Business Insider's in-depth coverage of the market's recent turbulence: BANK OF AMERICA: A wildly successful stock-trading strategy is no longer working — and it signals that a bubble has burst One Wall Street firm just made a big change to its outlook — and it perfectly encapsulates the challenges ahead for markets The market's most outspoken bear sees recent turbulence fueling his forecast of a 60% stock drop — and says it's too late to get out Bank of America knows what it'll take to send the market into a 'full bull detox' — and we're dangerously close 'This time, things really are different': A $150 billion investment chief explains why he's so nervous about the 'wild card' trade war The best stock trade of 2018 is a reversal from last year as turbulence rocks the market BANK OF AMERICA: A huge shift is happening in markets — and it's threatening to derail a favorite investor strategy Elsewhere in global equity markets, the Shanghai Composite rose 0.6%, while the Stoxx Europe 600 slipped 0.7%. In the bond market, the 10-year US Treasury yield fell 2 basis points, to 2.76%, near the key 3% level that traders are closely watching . Bank of America Merrill Lynch has said a trade war could move yields higher in the medium to long term. Here's a rundown of other asset classes: US Dollar Index , -0.1% Crude oil (WTI) , -2.71% Cboe Volatility Index (VIX) , +0.7% Gold , +0.8% Bitcoin , +1.70% NOW WATCH: Wall Street's biggest bull explains why trade war fears are way overblown See Also: Bank of America knows what it'll take to send the market into a 'full bull detox' — and we're dangerously close Trump's trade war antics just spoiled a perfectly good jobs report There's a record-setting disconnect in markets right now — and it has stocks spring-loaded for a recovery SEE ALSO: BANK OF AMERICA: A wildly successful stock-trading strategy is no longer working — and it signals that a bubble has burst || Incyte's Horrible News Derails a Promising Class of Cancer Drugs: It turns out Incyte (NASDAQ: INCY) didn't have any special sauce after all. Following lackluster results that led Roche Holding (NASDAQOTH: RHHBY) to abandon the IDO inhibitor GDC-0919 last year, industry watchers had remained confident that Incyte's IDO inhibitor, epacadostat, would avoid a similar fate. That confidence appears to have been misplaced. On Friday, Incyte revealed that epacadostat's most advanced clinical cancer trial has failed. The bad news casts doubt on epacadostat's future and the future of IDO inhibition altogether. Improving PD-1? Nope Cancer cells can hijack the indoleamine 2,3-dioxygenase (IDO) protein to suppress the immune system, so researchers have been hopeful that inhibiting IDO could restore immune system responses and help other cancer-killing drugs work better. A man holds his head in his hands while sitting in front of a stock price screen. IMAGE SOURCE: GETTY IMAGES. Unfortunately, this doesn't appear to be the case. Despite encouraging overall response rates in small mid-stage studies, data from larger studies have failed to demonstrate that adding IDO inhibitors like epacadostat to a commonly used class of cancer drugs -- PD-1 checkpoint inhibitors -- is particularly effective. Evidence of this first appeared last year, when Roche Holdings walked away from NewLink Genetics ' (NASDAQ: NLNK) IDO inhibitor, GDC-0919, which, like epacadostat, targets the IDO enzyme directly, rather than via cell signaling. Roche's decision followed data showing only a mild benefit associated with adding GDC-0919 to Roche's PD-L1 checkpoint inhibitor, Tecentriq. Only 9% of patients responded to that two-drug combination, and all of the responses were partial responses (in other words, the tumors didn't go away completely). In the end, the improvement was too small to convince Roche to commit any more time to GDC-0919's development. Roche's decision to give up on GDC-0919 appears even smarter following Incyte's disappointing news. Although teaming up Incyte's epacadostat with Merck & Co. 's (NYSE: MRK) PD-1 checkpoint inhibitor Keytruda delivered overall response rates of 30% to 35% in early trials, a phase 3 melanoma study of the combination appears to be a total bust. Story continues Following analysis of trial data, an external review committee concluded that treating patients with unresectable or metastatic melanoma with epacadostat and Keytruda failed to extend progression-free survival when compared to therapy with Keytruda alone. The committee also said it didn't expect the two-drug combination would improve overall survival either. That one-two punch will most likely force Incyte to shutter the study. Not much that's encouraging Sometimes, companies can parse trial data and salvage drugs based on efficacy in study subpopulations. Unfortunately, Incyte's comments don't seem to signal that will happen this time. According to the company, the trial's hazard ratio of 1 (indicating low efficacy) suggests it's unlikely that there is a group that would potentially benefit from the treatment. Incyte's other trials are still continuing. There's always the chance that epacadostat's results in those studies will be better, but that's a risky bet. According to management, those studies might need to undergo changes. That doesn't bode well for their success or the success of other IDO inhibitors that are in trials at Incyte's competitors. Overall, Incyte's revenue was $1.5 billion last year, up 39%, and as of Dec. 31, it had $1.2 billion in cash and no debt on its balance sheet, so this isn't game over for the company. It is, however, a big setback, and that should keep investors on the sidelines for now. 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 Todd Campbell has 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 a disclosure policy . || AUD/USD and NZD/USD Fundamental Weekly Forecast – Topping U.S. Yields May Fuel Counter-Trend Rallies: The Australian and New Zealand Dollars finished lower last week, but the selling pressure was lighter than previous weeks. After weakness early in the week, the Aussie settled down to trade sideways-to-slightly higher. The New Zealand Dollar’s low was made at mid-week. For the week, the AUD/USD settled at .7537, down 0.0042 or -0.55% and the NZD/USD finished at .7018, down 0.0066 or -0.93%. Weekly AUD/USD The early selling pressure was fueled by continuing concerns over rising U.S. interest rates which made the U.S. Dollar a more attractive investment. Essentially, investors have been bullish the U.S. Dollar because of the divergence in monetary policy between the U.S. Federal Reserve and the Reserve Banks of Australia and New Zealand. In economic news, the U.S. Federal Reserve kept its benchmark interest rate unchanged as widely expected while acknowledging that inflation was rising. It did not offer any hints as to the number of additional rate hikes later this year. However, most traders expect at least two more, including one at the Fed’s June meeting. On Friday, the U.S. government released disappointing non-farm payrolls data. The headline number came in lower than expected. The unemployment rate fell to an 18-year low and weak average hourly earnings raised concerns over the pace of future In Australia, the Reserve Bank left interest rates unchanged at 1.50% as widely expected. It monetary policy statement essentially reaffirmed the central bank was in no hurry to raise rates. The Australian Trade Balance came in higher than expected at 1.53 billion. The previous figure was revised higher to 1.35 billion. Building Approvals also exceeded expectations at 2.6%. The previous figure was revised higher but still came in at -4.2%. The New Zealand Dollar was underpinned by a solid employment report. The Employment Change rose more than expected by 0.6%. However, the previous report was revised lower to 0.4%. The Unemployment Rate held steady at 4.4%. Milk Prices fell with the GDT Price Index coming in at -1.1%. Story continues Weekly NZD/USD Forecast This week’s price action will be influenced by a slew of economic data from both sides of the pond. As far as reports are concerned, inflation will be at the forefront once again with the U.S. scheduled to report on Producer and Consumer Prices on Wednesday and Thursday respectively. Several Fed speakers are also on tap including Fed Chair Jerome Powell on Wednesday at 1915 GMT. Investors will also get the opportunity to react to Australian Retail Sales and the Annual Budget Release. After a report on New Zealand Inflation Expectations, investors will get the opportunity to react to the Reserve Bank of New Zealand’s Official Cash Rate, its Monetary Policy Statement, Rate Statement and Press Conference. RBNZ Governor Orr is also scheduled to speak. Treasury yields may have topped out at least temporarily so we could see some movement to the upside in the Aussie and Kiwi this week. The move will likely be position-squaring and short-covering adjustments. The wildcard this week will be appetite for risk. Traders aren’t sure how stock market investors will react to the U.S.-China trade talks, which went nowhere as expected, and the U.S. decision on whether to walk away from the Iran nuclear deal. This article was originally posted on FX Empire More From FXEMPIRE: DAX Index Fundamental Analysis – week of May 7, 2018 AUD/USD Forex Technical Analysis – Sustained Move Over .7532 Could Lead to Test of .7642 to .7647 Bitcoin Cash, Litecoin and Ripple Daily Analysis – 06/05/18 U.S Mortgage Rates Pause, but Upward Trend Set to Continue Lack of Wage Pressure Could Mean More Patient Federal Reserve Oil Price Fundamental Weekly Forecast – Specs Betting U.S. Will Walkaway from Iran Nuclear Deal [Random Sample of Social Media Buzz (last 60 days)] ICOs Are 'Absolutely Not' All Fraudulent, Says SEC Chief https://buff.ly/2q9S4jP  #cryptocurrency #bitcoin #cryptocurrencynews #blockchain #altcoins #ethereum $eth $xrp $bch $ltc $neo $ada $xlm $xmr $eos $iota $dash $nem $trx $wtc $venpic.twitter.com/4yP2JOKdml || There is no better heart exercise than watching crypto volatility. $BTC $ETH $LTC $XRP $TRX $NEO $BCH $ETC $XMR $ADA $DASH $ARDR $NXS $MUE $ZEC $FLO $ETC $MCO $CFI $MAID $FCT $BCH $XRP $CANN $VTC $STORJ $XVG $CVC $PAY $FUN $XEM $ZCL $XAS $PIVX $EDG $NEO $SHIFT || Install CryptoTab and mine Bitcoin! https://getcryptotab.com/81828  || You are correct seeing it now thanks. Correlation to BTC greatly favors LTC and BTC nowhere near any overbought climax = LTC seeing much greater extension. I always use BTC as my benchmark no matter what I am trading. If BTC is not overbought, I know LTC can go higher if BTC does || $btc update >RSI testing resistance >nice bounce on support >MACD again to cross Signal n rise bullish-wise >OBV curving up to support short uptrend >next stop 7,2k as resistance to be rejected >then would match second bottom for DB form pic.twitter.com/fF5vDVgEJ8 || #Crypto #Blockchain #Crowdfunding #databrokerdao #data #sensordata #localdata #ether #ethereum #bitcoin #cryptocurrency #ICO #tokensale #IOT #internetofthings #marketplacehttps://twitter.com/DataBrokerDAO/status/981836128679596033 … || #Cryptocurrency Market Dips Below $250 Billion, $BTC #Bitcoin Price Struggles at $6,600 https://www.ccn.com/cryptocurrency-market-dips-below-250-billion-bitcoin-price-struggles-at-6600/ … || The latest The MelanieStar Daily! https://paper.li/Melanie_Canada?edition_id=4df6b4f0-37cc-11e8-82a3-002590a5ba2d … Thanks to @BigSamSFO28Left @AndreaTabler @PatrickPSeger #newsoftheweek #bitcoin || Deep,Sad,Happy,Anger.pic.twitter.com/MLQAnCgLma || Bc using Canned fruit is a NO UP IN HERE!!! #jackfruit #feedingtheblock #weacceptcrypto #ltc #btc #eth #UberEATS #bitesquad #amazonprimenow #grubhub #eastaustin #foodtruckpic.twitter.com/5xrskdx8dU
Trend: down || Prices: 9234.82, 9325.18, 9043.94, 8441.49, 8504.89, 8723.94, 8716.79, 8510.38, 8368.83, 8094.32
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 2017-10-19] BTC Price: 5708.52, BTC RSI: 73.03 Gold Price: 1286.90, Gold RSI: 47.98 Oil Price: 51.29, Oil RSI: 54.70 [Random Sample of News (last 60 days)] Pogue's Basics: Link to a Facebook post: Imagine this. You’re on Facebook. You find an item you think your mom might like. Or your friend, or your Twitter followers, or anybody else who isn’tonFacebook. Or whoison Facebook, but will never see the post you liked. There’s a sneaky way you can create a universal link to a Facebook item so that you can send or post toanyone! You’ll never guess how you get that link, though. You click thetime stampon the post. Now you’ve opened up a dedicated page just for that post, and its comments. From here, you can copy the web address and paste it wherever fine URLs are pasted. Let the world marvel at your expertise. Adapted from “Pogue’s Basics: Tech” (Flatiron Press), byDavid Pogue. More from David Pogue: Ossia thinks it’s licked the problems with through-the-air charging Samsung’s Bixby voice assistant is ambitious, powerful, and half-bakedIs through-the-air charging a hoax? Pogue’s Basics: The secret Start menu in Windows 10 The pizza-making robots that want to change the world Electrify your existing bike in 2 minutes with these ingenious wheels Marty Cooper, inventor of the cellphone: The next step is implantables The David Pogue Review: Windows 10 Creators Update How a one-of-a-kind business has kept 5,000 kitchens out of landfills Google’s Nest Cam IQ recognizes burglars’ faces—for a steep price The 4 people Steve Jobs handpicked to review the iPhone reflect 10 years later Study: A smartwatch app can detect the heart condition hiding in millions of Americans Now I get it: Bitcoin David Pogue’s search for the world’s best air-travel app The little-known iPhone feature that lets blind people see with their fingers || Bitcoin tumbles on report China to shutter digital currency exchanges: By Gertrude Chavez-Dreyfuss and Angela Moon NEW YORK (Reuters) - Bitcoin fell sharply on Friday after a report from a Chinese news outlet said China was planning to shut down local crypto-currency exchanges, although analysts said this was just a temporary setback. Sources close to a cross regulators committee that oversees online finance activities told Chinese financial publication Caixin that authorities plan to shut key bitcoin exchanges in China. Reuters was not immediately able to verify the report. But two sources in direct contact with officials at three Chinese bitcoin exchanges - Beijing-based OKCoin, Shanghai-based BTC China, and Beijing-based Huobi - said the platforms told them that they have not heard anything from the Chinese government. The news follows China's move earlier this week 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. Greg Dwyer, business development manager at crypto-currency trading platform BitMEX, said there was confusion over whether China would close bitcoin exchanges following the ICO ban. "If this turns out to be true, then this sell-off is substantiated, and we could see further downside over the weekend, as it could mean the large bitcoin/Chinese yuan exchanges will need to halt trading," he added. Bitcoin dropped to a low of $4,227 (BTC=BTSP) on the BitStamp platform and last traded at $4,309.80, down 6.6 percent. On Sept 2, it hit a record high of nearly $5,000. Sharp losses such as Friday's are par for the course for an asset like bitcoin, analysts said. Over the course of its eight-year history, bitcoin has on a daily basis risen as much as 18 percent and fallen as much as 13 percent. Still, bitcoin was still up nearly 346 percent this year. John Spallanzani, chief macro strategist at GFI Group, said Friday's losses could be short-lived. "Bitcoin is here to stay," he said. Story continues Jehan Chu, a partner at Jen Advisors, a Hong Kong-based early-stage blockchain venture capital firm, noted that should China shut down bitcoin exchanges, it will not be the end of the crypto-currency world in the country. Blockchain, a digital ledger of transactions underpinning bitcoin, has leapt to prominence as it enable users to track and record assets across all industries. "This is just China pressing the 'Pause button," said Chu. 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. By mid-July, tech firms had raised about $1.1 billion in 89 coin sales this year, roughly 10 times more than in all of 2016, data from crypto-currency research firm Smith + Crown showed. (Reporting by Gertrude Chavez-Dreyfuss and Angela Moon; Editing by Dan Grebler and Chizu Nomiyama) || Jamie Dimon Says He's Done Talking About Bitcoin: JPMorgan Chase chief executive Jamie Dimon has said he won't be commenting on bitcoin anymore. It's a statement that comes a month after his now-infamous declaration that the cryptocurrency is a "fraud." Dimon made the remarks during a third-quarter earnings call with reporters this morning, as cited byCNBC. He reportedly said: "I wouldn't put this high on the category of important things in the world, but I'm not going to talk about bitcoin anymore." During the call, JPMorgan chief financial officer Marianne Lake was quoted as saying that the bank is "open-minded for digital currencies that are properly controlled and regulated." Dimon has something of a history of making strong statements on bitcoin. On September 12, during an event hosted by Barclays, he said that the cryptocurrency, in his view, is "worse than tulip bulbs," a reference to the 17th century speculative bubble in Dutch tulips. "It won't end well. Someone is going to get killed," he said at the time. Dimonlater doubled downon his comments, predicting that bitcoin would be targeted by governments. Dimon's "fraud" remark last month triggered a wave of commentary from Wall Street figures, withsome sidingwith his position, while others adopteda more neutral stance. By contrast,some commentatorshave taken issue with the "fraud" remarks, arguing that the cryptocurrency's foundation is based on a rejection of the banking system. Jamie Dimonimage via Flickr • No Fraud: Ex-JPMorgan Trader Masters Thinks Bitcoin Breakout Just Beginning • Goldman Sachs CEO: 'No Conclusion' on Bitcoin Yet • 'Wolf of Wall Street' Jordan Belfort: Jamie Dimon is Right About Bitcoin • Forecaster Gerald Celente: Banks Are Afraid of Bitcoin || China's virtual coin fundraising ban just the start of tighter regulations: Yicai: BEIJING (Reuters) - China is poised to further tighten rules on virtual currencies after regulators on Monday banned virtual coin fundraising schemes, Chinese financial news outlet Yicai reported citing sources. China banned and deemed illegal the practice of raising funds through launches of token-based digital currencies, targeting so-called initial coin offerings (ICO) in a market that has exploded since the start of the year. Yicai's report late Monday cited a source close to decision-makers as saying the announcement on the ban was just the start of further follow-up regulations of virtual currencies. In total, $2.32 billion has been raised through ICOs globally, with $2.16 billion of that being raised since the start of 2017, according to cryptocurrency analysis website Cryptocompare. The rapid ascent of ICOs prompted the U.S. Securities and Exchange Commission (SEC) to warn in July that some ICOs should be regulated like other securities. Singapore and Canada followed with similar warnings. Bitcoin rival Ethereum, which token-issuers usually ask to be paid in and which has seen dramatic growth this year, fell sharply on the news. It was down almost 20 percent on Monday and fell a further 5 percent on Tuesday, according to trade publication Coindesk. Bitcoin was also down another 4.6 percent on Tuesday after falling 8 percent on Monday. Major virtual currency trading platforms BTCC and Huobi had no comment on the ICO ban when contacted by Reuters. Chinese ICO platform ICOINFO (www.ico.info) said in a notice on Tuesday that it has stopped all ICO services and is working with groups that issued virtual tokens on its platform to return funds to investors. ICOINFO said several projects had already returned funds to investors' accounts and that users would be able to begin withdrawing funds from the platform at 10:00 am local time Tuesday. Another Chinese exchange, Binance, said in a statement on its website that it is "working around the clock on a solution that will fully satisfy the new regulations in China". However, it was looking at "preserving and enhancing features that are valuable to our western community, which accounts for more than 81 percent of our user base," the statement said. Some members of a chat group on the social networking platform WeChat set up for an ICO last week complained about the strict regulation, and wondered when they would get their funds back. Some users commenting on the website QQ.com welcomed the regulation, saying it would help the Bitcoin ecosystem in the long-run. "Regulation of ICOs is the best thing that could have happened to Bitcoin. From now on there won't be any reckless issuance of virtual currencies" wrote one user, who saw a bright future for the currency. "For the past eight years, each time Bitcoin has declined in value has been a great buying opportunity." (Reporting by Elias Glenn; additional reporting by Brenda Goh, Andrew Galbraith and the Shanghai newsroom; Editing by Shri Navaratnam) || China bitcoin exchanges awaiting clarification on closure report: BEIJING (Reuters) - China's Bitcoin exchanges said on Saturday they are still awaiting clarification from the authorities on a media report that they will be shut down. Bitcoin fell sharply on Friday after Chinese financial publication Caixin reported that China was planning to shut down local crypto-currency exchanges, although analysts said this was just a temporary setback. The news follows China's move earlier this week 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. Reuters was not immediately able to verify the report. A spokeswoman for Beijing-based OK Coin said the platform has not received any notification from regulators. Spokespersons at Beijing-based Huobi and Shanghai-based BTCC said they were still waiting for further official clarification. (Reporting by Brenda Goh, Writing by Kevin Yao; Editing by Shri Navaratnam) || Here's Another Sign Goldman Sachs Is Taking Bitcoin Seriously: Even as China shutters Bitcoin exchanges and the U.S. Securities and Exchange Commission signals heavier scrutiny of initial coin offerings , clients of trading giant Goldman Sachs are still to get in on the cryptocurrency trade. According to the Wall Street Journal citing people with knowledge of the matter, the banking giant is reportedly considering a new trading operation involving cryptocurrency thanks to increased interest in digital currencies. Potentially, the operation under consideration could become a full-fledged team of traders and sales people. Such an operation would make Goldman the first Wall Street giant to directly deal with cryptocurrency, according to the Journal . “In response to client interest in digital currencies, we are exploring how best to serve them in the space,” a Goldman Sachs representative said in a statement. Interest in Bitcoin has indeed risen in the U.S., with the cryptocurrency trading at about $4,400 Monday, up roughly 341% since the start of 2017. Meanwhile, i nvestors such as Andreessen Horowitz, Sequoia Capital, and Union Square Ventures have all gotten involved in cryptocurrency. Goldman Sachs has also been ahead of the curve in addressing bitcoin as an investment in comparison to other trading giants. Goldman Sachs is likely the only banking giant with a Bitcoin analyst issuing price targets . J.P. Morgan CEO Jamie Dimon on the other hand again dubbed Bitcoin a “fraud” recently , though his company is still catering to his clients’ fear of missing out. The banking giant has still been routing customer orders for an exchange-traded note tracking Bitcoin, but notably not the cryptocurrency itself . || Bitcoin is in a bubble, and here's how it's going to crash: Can bitcoin (Exchange: BTC=-USS) be a transformational, technology-based, currency and be in a bubble at the same time? Uh, yeah! JPMorgan Chase (NYSE: JPM) CEO Jamie Dimon created a bit of a stir in the market for bitcoin on Tuesday by claiming the cryptocurrency is a fraud and is in a valuation bubble that will burst. He said he'd fire any employee in his trading division who speculates in that currency market. Critics say Dimon is just protecting his entrenched financial market turf, while others, like myself, voiced their agreement with his core premise.There is so much to "unpack" when it comes to discussing transformational, or disruptive, technologies that have become highly speculative that it's hard to compress it into a mere 750 words or so. But here goes:Most disruptive developments in technology and finance eventually inflate into speculative bubbles as investors and traders assume that the intrinsic value of these new vehicles will expand forever.The "Tulip Mania" in Holland in the 1630s to which Dimon alluded notwithstanding, history is replete with examples of how transformational technologies enter a highly speculative phase, leading to the creation of great riches for early investors but great risks for those who arrive at the party far too late.Here, one looks back to history to identify the various and sundry bubbles that brought both great risks and rewards to investors and suckers alike! The exploration of the New World led to the catastrophic "South Sea Bubble" in Great Britain in the 18 th century, along with the "Mississippi Scheme" in France at roughly the same time. Isaac Newton lost a fortune in the former while the French government nearly collapsed in the latter.Of more domestic vintage, turnpike and canal bonds were the subject of great speculation in early American history. So were railroad bonds, electric utility stocks, auto companies, radio firms, the electronics industry, color TV companies, Japanese conglomerates, computer, biotech, internet shares and real estate, and all crashed when excessive optimism far outweighed the more rational expectations normally associated with prudent investing.So too will be the case with bitcoin.The price of a single bitcoin has gone up parabolically and at a faster pace than any other speculative vehicle in market history, as investor enthusiasm for the new medium has reached a fever pitch.However, its adoption as a global currency is suspect, partly for regulatory reasons and partly because creating a world currency from scratch, especially given the mandatory limitations on bitcoin creation, is no mean feat. There have been only three reserve currencies in the history of the Western World: the British pound, the French franc (however briefly) and the U.S. dollar (STOXX: .DXY) . Today, the dollar accounts for roughly two-thirds of all financial and economic transactions globally. The daily value of foreign exchange trading tops $5 trillion, alone, while bitcoin does a mere fraction of that.As yet, bitcoin also fails as a currency in several ways. Money is defined by three characteristics:A storehouse of value.A unit of account.A medium of exchange.It's hard to determine if bitcoin is a storehouse of value. Daily volatility tops 5 percent to 10 percent while its "value" has skyrocketed. If it crashes, it will fail to meet criteria No. 1.It is a unit of account, but for whom?It may be a medium of exchange, but for now that is only for a very few users.Convertibility is suspect in some nations where bitcoin exchanges have been banned, creating some confusion as to how the currency can be used.Complicating all that is the use of cryptocurrencies in the "dark web" for a wide variety of illicit activities, from money laundering to drug dealing to prostitution, among others.Additional issues involve sovereign nations and their desire to maintain control of their respective currencies and money supplies that make widespread use of bitcoin unlikely in the very near term.I've studied bubbles, written extensively about them and have covered no shortage of speculative events in my 33-year career.Bitcoin is in a bubble, make no mistake. The episode, for some, will end badly while others reap the rewards of getting in on the action early and, more importantly, getting out before the bust.But as in the case of many prior breakthrough technologies, the transformation will indeed be disruptive and extremely important even if the first mover fails to survive.The two, as history has shown, are not at all mutually exclusive.WATCH: Bitcoin mining can land you in jail in this country Can bitcoin (Exchange: BTC=-USS) be a transformational, technology-based, currency and be in a bubble at the same time? Uh, yeah! JPMorgan Chase (NYSE: JPM) CEO Jamie Dimon created a bit of a stir in the market for bitcoin on Tuesday by claiming the cryptocurrency is a fraud and is in a valuation bubble that will burst. He said he'd fire any employee in his trading division who speculates in that currency market. Critics say Dimon is just protecting his entrenched financial market turf, while others, like myself, voiced their agreement with his core premise. There is so much to "unpack" when it comes to discussing transformational, or disruptive, technologies that have become highly speculative that it's hard to compress it into a mere 750 words or so. But here goes: Most disruptive developments in technology and finance eventually inflate into speculative bubbles as investors and traders assume that the intrinsic value of these new vehicles will expand forever. The "Tulip Mania" in Holland in the 1630s to which Dimon alluded notwithstanding, history is replete with examples of how transformational technologies enter a highly speculative phase, leading to the creation of great riches for early investors but great risks for those who arrive at the party far too late. Here, one looks back to history to identify the various and sundry bubbles that brought both great risks and rewards to investors and suckers alike! The exploration of the New World led to the catastrophic "South Sea Bubble" in Great Britain in the 18 th century, along with the "Mississippi Scheme" in France at roughly the same time. Isaac Newton lost a fortune in the former while the French government nearly collapsed in the latter. Of more domestic vintage, turnpike and canal bonds were the subject of great speculation in early American history. So were railroad bonds, electric utility stocks, auto companies, radio firms, the electronics industry, color TV companies, Japanese conglomerates, computer, biotech, internet shares and real estate, and all crashed when excessive optimism far outweighed the more rational expectations normally associated with prudent investing. So too will be the case with bitcoin. The price of a single bitcoin has gone up parabolically and at a faster pace than any other speculative vehicle in market history, as investor enthusiasm for the new medium has reached a fever pitch. However, its adoption as a global currency is suspect, partly for regulatory reasons and partly because creating a world currency from scratch, especially given the mandatory limitations on bitcoin creation, is no mean feat. There have been only three reserve currencies in the history of the Western World: the British pound, the French franc (however briefly) and the U.S. dollar (STOXX: .DXY) . Today, the dollar accounts for roughly two-thirds of all financial and economic transactions globally. The daily value of foreign exchange trading tops $5 trillion, alone, while bitcoin does a mere fraction of that. As yet, bitcoin also fails as a currency in several ways. Money is defined by three characteristics: A storehouse of value. A unit of account. A medium of exchange. It's hard to determine if bitcoin is a storehouse of value. Daily volatility tops 5 percent to 10 percent while its "value" has skyrocketed. If it crashes, it will fail to meet criteria No. 1. It is a unit of account, but for whom? It may be a medium of exchange, but for now that is only for a very few users. Convertibility is suspect in some nations where bitcoin exchanges have been banned, creating some confusion as to how the currency can be used. Complicating all that is the use of cryptocurrencies in the "dark web" for a wide variety of illicit activities, from money laundering to drug dealing to prostitution, among others. Additional issues involve sovereign nations and their desire to maintain control of their respective currencies and money supplies that make widespread use of bitcoin unlikely in the very near term. I've studied bubbles, written extensively about them and have covered no shortage of speculative events in my 33-year career. Bitcoin is in a bubble, make no mistake. The episode, for some, will end badly while others reap the rewards of getting in on the action early and, more importantly, getting out before the bust. But as in the case of many prior breakthrough technologies, the transformation will indeed be disruptive and extremely important even if the first mover fails to survive. The two, as history has shown, are not at all mutually exclusive. WATCH: Bitcoin mining can land you in jail in this countryMore From CNBC • Terror to end bitcoin anonymity? • 'Smart' people and Panama Papers • Bitcoin mining IPO falls short || Bitcoin surges past $5,300 'as bulls returned to the market with a vengeance': (Bitcoin was on a tear Thursday.MI) Bitcoinsoaredpast $5,000for the first time early Thursday morning and it continued to hit new heights throughout the trading day. The red-hot digital currency, which is up more than 400% this year, blew past $5,300 to $5,382 just after 12 p.m. ET. Sell-off pressure has since pushed the coin back down below $5,300. It is still up near 10% Thursday. The $5,000 mark has long been a threshold of high-anticipation in the bitcoin community. Traders got a taste of it in early September when bitcoin hit ahigh of $4,921, according to data from Bloomberg. Soon after that, its price declined amid news of acrackdown in Chinaand regulatory uncertainty around initial coin offerings, a cryptocurrency-based fundraising method. After bottoming out near $2,900 per coin on September 15, it has since rallied. That has come as no surprise to folks in the bitcoin community, who say government regulations and crackdowns on the coin have little impact on its underpinning technology or its price. “Bitcoin was designed to operate outside of the influence of governments and central banks, and is doing exactly that," said Iqbal V. Gandham, a managing director at eToro UK. "So to us, this bounce back in price is no surprise." Josh Olszwicz, a bitcoin trader, told Business Insider during an interview in mid-September that the markets ignored news out of China because it didn't impact the coin's actualblockchain technology. "If it doesn't affect the protocol, then it's not a real problem," he told Business Insider."The bitcoin cash shakeup was much more worrisome from my perspective, but even then the core bitcoin protocol remained unaffected." Bitcoin has seen its value increase by more than $1,000 per coin in the past week alone, with a rally that coincides with renewed interest in the currency from investment banks. The Wall Street Journal last week reported thatGoldman Sachs was looking at setting up a bitcoin trading operation, and Morgan Stanley CEO James Gorman said recently that thecryptocurrency was "certainly more than just a fad." The day's rise comes "as bulls returned to the market with a vengeance," according to Neil Wilson, a senior analyst at ETX Capital. NOW WATCH:Debating the odds of a stock market correction More From Business Insider • KEN ROGOFF: Bitcoin will eventually collapse • Is bitcoin a bubble or the future of everything? • THE BOTTOM LINE: The bitcoin debate, stretched stock valuations and PGIM's David Hunt || USD/JPY Fundamental Daily Forecast – Weakens On Lower Treasury Yields: The Dollar/Yen is trading lower on Thursday after giving up all of its earlier gains. Mixed U.S. economic data encouraged investors to take profits after a strong rally the last two days. At 1554 GMT, the USD/JPY is trading 110.3707, down 0.1605 or -0.15%. Earlier in the session, the Forex pair was trading as high as 110.6535. Contributing to the Dollar/Yen weakness is a drop in U.S. Treasury yields. The yield on the benchmark 10-year Treasury Note sat lower at around 2.131 percent, while the yield on the 30-year Treasury Bond was down at 2.732 percent. Treasury market traders reacted to mixed U.S. economic data. On the bearish side, the Challenger Job Cuts report surprisingly rose 5.1%, up from last month’s -37.6% reading. The Core PCE Price Index, the Fed’s favorite inflation indicator, came in at 0.1%, the same as the estimate. This put annual inflation at 1.4%, well below the Fed’s 2.0% target. Personal Spending was below the 0.4% forecast, coming in at 0.3%. On the plus side, Weekly Unemployment Claims were slightly lower than expected at 236K. Personal Income rose 0.4%, higher than the 0.3% estimate and Chicago PMI was slightly better than the forecast at 58.9, the same as last month’s reading. The news that hurt the U.S. Dollar was a 0.8% drop in Pending Home Sales. Traders were looking for an increase of 0.4%. Last month’s report was revised lower to 1.3%. The lack of inventory was blamed for the decline. Also contributing to the weakness in the USD/JPY was position-squaring and profit-taking ahead of Friday’s U.S. Non-Farm Payrolls report. Traders expect the headline number to come in at 180K. The unemployment rate is expected to stay at 4.3% and average hourly earnings are expected to come in at 0.2%. Thisarticlewas originally posted on FX Empire • USD/JPY Fundamental Daily Forecast – Weakens On Lower Treasury Yields • Investors Ready for Crucial Data from States Next Two Days, Bitcoin Prices Hold Near Record High • Forex Trading Signals – August 31, 2017 • USDJPY Traders Should Watch the S&P500 • Will the USD Continue its Decline? • EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – August 31, 2017 || Bitcoin exchange BTCChina says to stop trading, sparking further slide: By Brenda Goh and Jemima Kelly BEIJING/SHANGHAI/LONDON (Reuters) - Chinese bitcoin exchange BTCChina said on Thursday that it would stop all trading from Sept. 30, setting off a further slide in the value of the cryptocurrency that left it over 30 percent away from the record highs it hit earlier in the month. China has boomed as a cryptocurrency trading location in recent years, as investors and speculators flocked to domestic exchanges that formerly allowed users to conduct trades for free, boosting demand. But that has prompted regulators in the country to crack down on the cryptocurrency sector, in a bid to stamp out potential financial risks as consumers pile into a highly risky and speculative market that has seen unprecedented growth this year. Just hours after BTCChina announced its closure, Chinese news outlet Yicai reported that the country plans to shut down all bitcoin exchanges by the end of September, citing financial sources in Shanghai. BTCChina said its decision was based on a Sept. 4 directive from Chinese authorities that expressed concern over investment risks involved in cryptocurrencies and ordered a ban on so-called initial coin offerings, or ICOs - the practice of creating and selling digital currencies or tokens to investors to finance start-up projects. That ban, as well as warnings by regulators in other countries, has driven fears of a wider crackdown and prompted a sell-off that has helped wipe almost $60 billion off the total value of cryptocurrencies since they hit record highs at the start of the month, according to industry website Coinmarketcap. "The Chinese ban is causing a panic in the market as mixed messages and lack of clarity has turned sentiment negative," said Charles Hayter, founder of data analysis site Cryptocompare. BTCChina, one of China's largest bitcoin trading platforms, which also runs an international exchange out of Hong Kong, will stop registration of new users from Thursday, it said on its official microblog. "We will stop all trades on the digital trading platform starting Sept. 30," it said. Its co-founder, Bobby Lee, told Reuters the move would not affect trading on the BTCC international exchange, however. The price of bitcoin tumbled particularly sharply on BTCChina after the news. By 1233 GMT, it was down 18 percent on the exchange, at 20,510 yuan. On U.S. exchange Bitstamp, it slid as much as 10 percent to a five-week low of $3,426.92, having hit a record high of nearly $5,000 on Sept. 2. PANIC SPREADS Panic also spread to other cryptocurrencies, with bitcoin's main rival ether - sometimes called ethereum - also down around 10 percent, according to Coinmarketcap. Story continues Reuters and other media had reported this week, citing sources, that China planned to further ban exchanges that allowed virtual currency trading but the regulator has yet to make an announcement. Spokeswomen for OkCoin and Huobi, BTCChina's main rivals in China, declined to say whether they would announce similar moves. Huobi said it had not received any clear directives from regulators to do so. Investors in China contributed up to 2.6 billion yuan, or $397 million, worth of cryptocurrencies through initial coin offerings in January-June, state-run media have said, citing data from the National Committee of Experts on Internet Financial Security Technology. Adding to bitcoin's woes this week was a warning by Jamie Dimon, chief executive of JPMorgan, that the cryptocurrency was a "fraud" and was set to "blow up" - comments that helped fuel a slide of as much as 11 percent in bitcoin on Wednesday. Bitcoin is on track for its worst month since January 2015. (Reporting by Brenda Goh, Beijing Monitoring Desk and Jemima Kelly; Editing byLarry King) View comments [Random Sample of Social Media Buzz (last 60 days)] #bitcoin non si ferma più? Analisi tecnica || In the meantime, are we able to throw bitcoin on MT4 coinciler? || #Putin Tells Central Bank Not to Create Barriers to #Cryptocurrencies || 가상화폐 '리플코인', 고객사 100곳 넘었다 http://biz.chosun.com/site/data/html_dir/2017/10/11/2017101101912.html … || #Putin Tells Central Bank Not to Create Barriers to #Cryptocurrencies || Current Hashrate: 301.653 Th/s Current $BTC/PH/S: 0.263 || #bitcoin non si ferma più? Analisi tecnica || #Putin Tells Central Bank Not to Create Barriers to #Cryptocurrencies || The CFTC Still Doesn't Know What Constitutes Cryptocurrency 'Delivery' https://goo.gl/fb/YweVch  #bitcoin || Oct 15, 2017 00:30:00 UTC | 5,802.50$ | 4,909.00€ | 4,367.70£ | #Bitcoin #btc pic.twitter.com/kk49NMNhE9
Trend: up || Prices: 6011.45, 6031.60, 6008.42, 5930.32, 5526.64, 5750.80, 5904.83, 5780.90, 5753.09, 6153.85
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 2022-09-19] BTC Price: 19544.13, BTC RSI: 42.19 Gold Price: 1666.20, Gold RSI: 32.99 Oil Price: 85.73, Oil RSI: 42.99 [Random Sample of News (last 60 days)] Crypto.com Pulls Plug on $495M Champions League Sponsorship Deal: Report: Cryptocurrency exchange Crypto.com has backed out of a five-year sponsorship deal worth $495 million with the UEFA Champions League, European soccer's elite league, according to a report in SportBusiness . The deal, which had reportedly been agreed in principle, would have seen Crypto.com take over as sponsor from Russian-state owned energy company Gazprom. UEFA, Europe's governing body for soccer, cancelled the Gazprom contract in March following Russia's invasion of Ukraine. Crypto.com scrapped the deal because of regulatory concerns in the U.K., France and Italy, with legal issues surrounding the scope of its licenses to trade and operate, SportBusiness said. The Singapore-based exchange has taken a gung-ho approach to sports advertising over the past year, signing a 20-year naming deal with the Staples Center in Los Angeles for $700 million and piling $150 million into Formula One racing sponsorships. It also also paid $100 million for an advertisement featuring Hollywood actor Matt Damon as it looked to cash in on last year's bull market. Since then, however, cryptocurrency prices have tumbled. Bitcoin has slumped from nearly $69,000 in November to around $20,000 at the time of writing. Neither Crypto.com nor UEFA immediately responded to requests for comments. || Ethereum’s Move From Proof-of-Work Essential for the Network, Crypto Exec Says: The Ethereum blockchain’s transition away from its proof-of-work (PoW) mechanism is necessary for the network to expand, according to Brian Norton, chief operations officer of MyEtherWallet, an app where investors can store their ether, which is Ethereum’s native token. Norton said on CoinDesk TV’s “First Mover” show on Tuesday that Ethereum’s ability to sustain its growth with the PoW consensus mechanism is “not going to be tenable” and said the method isn’t energy efficient. “In order for Ethereum to move with the ecosystem and continue to be the leader and remain true to its principles of being open and permissionless, a transition out of proof-of-work is absolutely going to be essential,” Norton said. Norton’s comments come as Ethereum prepares to switch to a proof-of-stake (PoS) method of maintaining its network and validating transactions with a software update known as the Merge . According to developers, the proof-of-stake mechanism is more efficient and cheaper than proof-of-work. Norton says the update may be pushed “further down the road,” perhaps until next year if the Merge doesn’t go as planned. It is supposed to go live next month. As the Merge approaches, Norton said institutional adoption will likely increase, especially if users begin to better understand what the change will mean for the blockchain. Institutional investors now appear to be bullish about the Merge, piling into ETH-based funds, Norton said, but if the Merge takes longer than expected, users and investors could grow “restless” and pull out. Norton said the Merge will “provide users a sharp contrast” between PoW and PoS, and could even affect bitcoin (BTC). “Now you have another potentially deflationary asset in the crypto space that is more energy efficient and has more use cases,” Norton said of ether. The Bitcoin network, on the other hand, has been designed for the exchange of its native token, which could resonate more with users who view the token as a store of value. Norton said that “most users are not going to see a thing” following the Merge but that the price of ether will likely surge as it has done this summer. Read more: Ethereum Is Getting Cheaper to Use, Even Before the Merge || 7 Cheap Bargain Stocks to Buy Now: As major indices remain down by double digits year-to-date (YTD), you may be on the prowl for cheap bargain stocks. Even as the market’s downturn this year has been the result of a worsening macro picture, to paraphrase Warren Buffett, being“greedy when others are fearful”can be a profitable move. That said, buying while market fears run high doesn’t mean you should go out and buy any seemingly cheap stock. There are plenty of names today trading at low valuations for good reasons. If a recession does happen within the next year, many companies that “crushed it” in terms of earnings in 2021 and 2022 could see a big earnings drop in 2023. Yet while it’s wise to avoid “undervalued on paper” stocks that have a strong chance of becoming “value traps,” there are cheap bargain stocks out there that are the real deal. For instance, these seven. Each one trades at a low valuation, with factors at play to send them toward higher prices. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Source: zhengzaishuru / Shutterstock.com Vaalco Energy(NYSE:EGY) is a stock I’ve discussed several times this year. Mainly, that’s due to its appeal asan oversold energy stock. However, in the past month, a new reason to like the stock has emerged: It plans to merge with another small oil exploration and production (E&P) company. AsInvestorPlace’s Alex Sirois discussed in July, the company is combining withTransGlobe Energy(NASDAQ:TGA) inan all-stock deal. EGY stock has moved lower since the news. This is despite many signs this deal is a positive for shares going forward. For one, it diversifies the company’s asset base. The deal also increases the company’s cash position. To top things off, with increased cash flow, Vaalcoplans to increase its annual dividend payoutto 25 cents per share (implied yield of 5.2%). Trading for just 2.6x earnings, take advantage of its recent selloff. Source: TonelsonProductions / Shutterstock.com Formed when Liberty Tax (a business since divested) merged with rent-to-own retailer Buddy’s in 2019,Franchise Group(NASDAQ:FRG) is a diversified holding company. Its portfolio of businesses includes retailers like The Vitamin Shoppe and Pet Supplies Plus. It’s also the parent company of tutoring services provider Sylvan Learning. Since its formation, FRG stock has performed strongly. Even after the market selloff since late 2021, shares are still up threefold. CEO Brian Kahn’s aggressive pursuit of profitable acquisitions is a key reason for the stock’s success in recent years. Franchise is still pursuing deals. You may recall it tried to buyKohl’s(NYSE:KSS). Whilethe Kohl’s deal didn’t happen, given Kahn’s track record, chances are it will level up on its past success, with another needle-moving purchase. The stock today is a bona fide bargain, trading for just 8x forward earnings. Source: JosephRouse / Shutterstock Down nearly 75% in the past five years, many investors may take a look atGeo Group(NYSE:GEO) and assume it’s one of the cheap bargain stocks that will get cheaper. Changes in U.S. federal government policy have been bad news for this private prison operator. Yet while it may seem like a “value trap,” there may be a path for GEO stock to make a comeback. Moving toextend the maturity of its outstanding debt, it stands to soon have more time to de-lever and adapt to industry changes. For investors buying shares today, while it trades so far below its high-water mark, this could result in big returns. Why? Generating a high amount of operating cash flow (around $250 million annually) relative to its market capitalization ($953 million), using this cash to de-lever could have an outsized positive impact on its share price. Source: LisaCarter / Shutterstock.com As the chance of a recession rises, it may seem like the worst time to buy a consumer cyclical stock likeHibbett(NASDAQ:HIBB). An economic downturn could severely impact this sporting goods chain’s profitability. Then again, this may be already more than accounted for in its valuation. HIBB stock today trades for just 6.2x forward earnings. Although earnings could slide in a downturn, results would likely revert back when the economic environment improves. Especially as this under-the-radar name in the space has a long-term competitive edge. At least, that’s the view of oneSeeking Alphacommentator. Arguing the bull case back in July, the commentator pointed out howthe company’s focus on small, rural communitiescould keep online and big-box competition at bay. After selling off following an incredible run during the pandemic era, now may be the time to enter a position. Source: radioshoot/ShutterStock.com It makes sense that radio broadcasting stocks trade at low valuations. There’s a big risk of full “disruption” by the rise of audio streaming. YetSalem Media Group(NASDAQ:SALM), trading at a super-low earnings multiple, may have the ability to re-hit past price levels. How? First, it’s moving into digital media. Besides operating 101 AM and FM radio stations, Salem also owns a portfolio of Christian and conservative-themed websites. A further pivot toward digital could lead to a re-rating. Instead of trading at a single-digit multiple, it may in time move to a double-digit multiple. The second potential needle-mover for SALM stock? Its upside potential from selling non-core land holdings. It has already generated tens of millions in gains from such sales. What remains of its land holdings have a book value of around$27 million. Not bad compared to its current $63.1 million market cap. Source: Shutterstock Tenet Healthcare(NYSE:THC) operates hospitals and other healthcare facilities. A forward earnings multiple of 10.5x may look pricey compared to some of the cheap bargain stocks listed above, but this valuation is dirt cheap relative to other hospital stocks. Peers likeHCA Healthcare(NYSE:HCA) sell at higher forward valuations than THC stock. Some may blame a high debt position for this valuation discrepancy. However, it generates sufficient cash flow to service and potentially pare down this high amount of leverage. Also, the company’s decision to retain its Conifer revenue cycle outsourcing unit looks to be a wise one. Back in March, when management announced it was not spinning off the division, Jefferies analyst Brian Tanquilut noted that improvements with Conifer willbolster its operating performancegoing forward. Bouncing back in recent weeks after sliding earlier this year, shares may be en route to a recovery. Source: Shutterstock Turning Point Brands(NYSE:TPB) is a tobacco products company. Major brands include Stoker’s smokeless tobacco and Zig-Zag cigarette paper. It also markets vaping products. TPB stock has struggled in recent months. Headwinds in the vaping space, plusa poorly received earnings reportand guidance update, have pushed it to multiyear lows. Typically, a selloff like this is a sign of more disappointment ahead. This situation may be an exception, though. Why? Valuation. At a valuation of just 12x this year’s earnings, and 8.5x estimated 2023 earnings, it’s dirt cheap compared to other non-cigarette tobacco stocks. For instance,Swedish Match(OTCMKTS:SWMAY). SWMAY trades for 26.75x earnings. That’s not to say this stock will move to such a multiple. Still, once the vaping headwinds clear up, or Turning Point turns its focus back to traditional tobacco (or perhaps even cannabis), it could climb back to a higher valuation. 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, Thomas Nielheld a long position in GEO. He did not have (either directly or indirectly) any positions in any other securities mentioned in this article.The opinions expressed in this article are those of the writer, subject to theInvestorPlace.comPublishing Guidelines. Thomas Niel, contributor for InvestorPlace.com, has been writing single-stock analysis for web-based publications since 2016. • 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 post7 Cheap Bargain Stocks to Buy Nowappeared first onInvestorPlace. || Ordered Chaos: Why the CoinDesk Market Index Matters for the New Economy: For a viable capital market to form around a nascent industry, investors need a standardized, broad-based benchmark against which to measure and assess performance. Without it, they are flying blind. With the newly launchedCoinDesk Market Index(CMI), CoinDesk Indices (CDI) is seeking to resolve that challenge for investors in digital assets. The CMI brings a clarity of vision that was previously lacking from the sprawling, opaque, poorly categorized crypto economy. There’s a reason a trusted index had not yet arisen for crypto. A technology with huge potential to disrupt multiple sectors and a dizzying array of projects (of sometimes dubious quality) requires detailed, rigorous analysis to define and weight the various constituents of an appropriate index. For one, because the services and use cases of the decentralized crypto economy don’t easily match the framework of the old, centralized one, there are significant challenges simply to categorize the many digital assets in the market. Identifying the different digital asset sectors and determining which assets belong to each one requires clear-headed analysis and consistently applied rules. Secondly, the market data needed to compile the index constituents is not always reliable. Rogue actors–who may be incentivized to distort prices and volumes–are uniquely empowered via pseudonymity to use strategies such as wash trading to do so. There’s also a lot of inconsistency across the many exchanges around the world that list the same assets but under very different regulatory and operational frameworks. With the CMI, the CDI team has tackled both challenges head on. The first has been addressed by CoinDesk’s groundbreakingDigital Assets Classification Standard (DACS), the first of its kind, launched back in December. Under the DACS, more than 500 of the largest digital assets have each been assigned to an industry defined by its technology and use case. Currently, each digital asset is assigned to one of 36 industries, and each industry is assigned to one of 23 industry groups. Finally, each industry group is placed within one of six distinct sectors: currency, smart contract platforms, decentralized finance (DeFi), culture & entertainment, computing, and digitization. This consistently applied framework is the foundation for the CoinDesk family of market benchmarks. There, the broad CMI is accompanied by six subindices representing the six DACS sectors, along with an ex-stablecoins market index and an ex-stablecoins currency index, both of which limit the influence of market movements to tokens that are intended to rise or fall versus the U.S. dollar. The CMI family can be used in a variety of ways. The broad market index can be a single proxy for the entire investable crypto asset class, helping traditional investors decide how much of their portfolio to allocate to digital assets. It can also allow observers to assess active fund managers’ performance relative to that benchmark. Drilling down, investors can use the subindices to rank different sector-focused funds – funds purely focused on bitcoin, for example, or on smart contract platforms such as Ethereum and Solana. Or those same subindices can be used as part of a sector rotation strategy or to help determine the nuanced sector-by-sector allocations of an effective, diversified, cross-crypto investment strategy. As for the challenge of data integrity, CoinDesk is uniquely positioned as the market leader with the most experience working with the challenging crypto data set. In November 2014, the CoinDesk Bitcoin Price Index (XBX) was launched as the first-ever crypto index. Since then it has been reliably calculating every second of bitcoin’s pricing through pitfalls of variable data. Given the number of exchanges supplying bitcoin prices, a methodology and tech stack designed to expel unreliable variant data was designed to provide a trustworthy price. CDI’s Single Digital Asset Price Index Methodology(PDF) has proven through time to withstand the volatility and anomalies enough to support approximately 75% of the assets under management across all crypto tracking products When it comes to the CMI, the knowledge gained from evaluating exchanges and data helps maintain the integrity to create a broad-based index that makes sense for the market. The index’s methodology narrows the DACS digital asset universe – down from more than 500 to currently 148 – by imposing the following criteria on tokens’ eligibility: First, they must be classified in the latest DACS report; second, they must be listed on at least two of CoinDesk’s carefully vetted list of eligible exchanges for a minimum of 30 days; and third, they must be available for CoinDesk Indices to apply its reference price calculation, which occurs approximately every five seconds and uses a volume-weighted average price (VWAP) from at least two contributing exchanges over the prior 60 minutes. The constituents that meet these requirements are then weighted by market capitalization. The CMI index family is calculated in real-time using reference rates for each asset. The index is reconstituted and rebalanced monthly. As asset managers and other service providers license these indices to offer specialized investment vehicles designed to mimic or contrast with the indices’ performance, we foresee an interconnected environment in which different providers of liquidity arise on both sides of each trade. The DACS-powered CMI is more than a much-needed tool for digital asset investors, however. It is a critical lens through which to observe the larger crypto economy. The CMI brings structure to the process by which investors define and value the myriad digital assets in existence, bringing order to the otherwise chaotic world of crypto. As such, we see the CMI as a narrative device, a means by which to describe a more cohesive picture of the crypto economy, a framework with which to talk about, assess, and compare the many tokens, protocols, and dApps that comprise it. Just as the Dow Jones Industrial Average helped define American capitalism within the centralized paradigms of the 20th century, the CMI can help frame the 21st century’s emerging decentralized digital economy in which people exchange currency, property, services and data peer to peer, without the intervention of middlemen. That’s why it’s especially appropriate that CoinDesk, the leading media organization for the crypto and blockchain community, is driving this effort to advance the CMI. As a trusted chronicler of that economy’s evolution, CoinDesk Media is not only best placed to objectively determine the elements of this new narrative device, it can use this storytelling tool to bring clarity to the evolution of crypto technology in the public interest. || First Mover Asia: Bitcoin Struggles Following Inflation Report; California Crypto Bill Is an Overstep, Say Legal Experts: Good morning. Here’s what’s happening: Prices: Bitcoin, ether and other major cryptos spent the day deeply in the red following a disappointing price index report. Insights: A crypto bill, newly passed by California's assembly, is an overstep, say two legal experts, including the author of the bill. 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 ): $20,451 −7.8% ● Ether ( ETH ): $1,592 −6.1% ● CoinDesk Market Index ( CMI ): $1,018 −6.0% ● S&P 500 daily close: 3,932.69 −4.3% ● Gold: $1,713 per troy ounce +0.5% ● Ten-year Treasury yield daily close: 3.42% +0.06 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. Bitcoin's Tuesday Post CPI Travails By James Rubin So much for surprises. The hotly anticipated August consumer price index (CPI) arrived at an unexpectedly high 8.3%, and investors – crypto and otherwise – didn't like what they saw. Bitcoin, the largest cryptocurrency by market capitalization, was recently trading just above $20,400, a more than 7% decline from 24 hours earlier. BTC, which had been hovering well over $22,500 just before the release of the report, plunged over 5% in the hour after the CPI release and kept spiraling. Ether, the second-biggest crypto in market value, followed a similar pattern and was changing hands under $1,600, a roughly 6% decline from a day earlier as inflation worries trumped Merge excitement. The Merge, the shifting of the Ethereum blockchain from a slower, more energy sapping proof-of-work protocol to proof-of-stake is supposed to occur Thursday, although recent ETH activity, even before the disappointing CPI, has suggested that the most significant price increases have already occurred. Story continues Other major altcoins spent the day in a deep red funk with SOL and AVAX recently off more than 12% and 9%, respectively. "Struggling is the right word," Raghu Yarlagadda, co-founder and CEO of FalconX, told CoinDesk TV. "People weren't expecting 8.3%." Yarlagadda said the August CPI, which economic observers had expected to sink to 8.1%, offered the latest evidence that inflation remained a threat to the U.S. economy, and that the Federal Reserve would be more inclined to raise interest rates a third consecutive time by 75 basis points at its Federal Open Market Committee meeting next week. "[The] Fed was very clear that they're gonna fight inflation first and then prioritize the soft landing," he said. "What that means is that it's going to be making some aggressive moves." He added: "The inflation data will probably create some drag on risk-on assets, and that's going to spill over into crypto." As they've largely done in recent months, crypto prices dovetailed with equity markets, which also tumbled on Tuesday. The technology-heavy Nasdaq, the S&P 500, which has a strong tech component, and the Dow Jones Industrial Average struggled through their worst day since June 2020 with the Nasdaq plunging more than 5%. Market observers had expected falling energy prices to spur a more favorable CPI, but food and housing costs remain stubbornly high. Crypto news The executive exodus from cryptocurrency hedge fund and venture-capital investor Pantera Capital continued with Chief Financial Officer Ryan Davis leaving, as CoinDesk's Nick Baker reported Tuesday. His departure follows the exit of Chief Technical Officer Terence Schofield , Chief Operating Officer Samir Shah and other employees. Earlier in the day, lawyers for Craig Wright, the Australian computer scientist best known for claiming to be the inventor of Bitcoin, said he will not provide any new cryptographic proof that he is Satoshi Nakamoto during his trial against Bitcoiner Hodlonaut, which began in Oslo on Monday. Meanwhile, Yarlagadda noted that financial institutions have been strongly opinionated about the Merge's impact on pricing with some seeing it as a "starting point for something bigger," but others believing increases last month already accounted for the change. "Both sides are extremely passionate, but I don't think there is strong conviction that ETH is going to be rallying right after the Merge," he said. "Retail seems to be on both sides of the fence at this point, based on what we're seeing." Biggest Gainers Asset Ticker Returns DACS Sector Terra LUNA +4.9% Smart Contract Platform Biggest Losers Asset Ticker Returns DACS Sector Solana SOL −12.0% Smart Contract Platform Avalanche AVAX −9.6% Smart Contract Platform Cosmos ATOM −8.1% Smart Contract Platform Insights California's Crypto Overstep By Sam Reynolds The Merge isn’t the only big crypto event this week. California’s new digital assets bill which singles out stablecoins and currently awaits Governor Gavin Newsom’s signature could reshape the world’s digital asset industry, given the state’s size and importance in the cryptocurrency industry. Or will it? The crypto industry has been shifting dramatically since New York, another U.S. state of outsized importance, passed a BitLicense bill in 2015 that has set a precedent for state-level, crypto rules and led to New York Attorney General’s probe into Tether and a settlement. California dreamin’ Although federal legislative interest remains in stablecoins, a first iteration of the STABLE Act , which would provide rules for stablecoin issuers, died in the halls of power. But the passing of California’s Digital Assets Law threatens to fundamentally change the stablecoin environment. The law, passed almost unanimously last month by California’s state assembly, would prohibit California-licensed entities from dealing with stablecoins, unless that stablecoin is fully backed by securities and issued by a bank or is licensed by the California Department of Financial Protection and Innovation. But one of the minds behind the STABLE Act, is skeptical about how much meaningful difference this law will make. “I feel like this is a state-level thing dealing with a federal-level problem,” Rohan Grey, a legal scholar who helped draft the STABLE Act, told CoinDesk. “The fact that this is a state-level bill still creates some limitations. They do not have the capacity to, for example, require FDIC insurance.” The reliance on full asset backing of stablecoins is not necessarily going to be as safe as deposit insurance, Grey says. Grey highlights how California’s bill is actually a step back from what was before Congress as it gives an option for stablecoin issuance from entities that aren’t banks – whereas the STABLE Act specifically requires chartered banks to play a role. “We are trying to actually make sure that that bank perimeter is strongly enforced, whereas this allows someone to be potentially licensed as a stablecoin issuer without being classified as a bank,” Grey said. “One of the not as widely reported but second order and subtle goals of that was to re-absorb the money transmitter industry into banks.” While tether (USDT), given its market cap, is often at the forefront of legislation around stablecoins, and as a result creates a stark divide between exchanges that can and can’t offer tether (see: Binance/FTX.us versus their mothership), Grey thinks that it’s important to look beyond bad actors and consider broader market safety. “For the people [the] behind STABLE Act, this is not a problem about individual bad actors; this is a problem about actually the structure of the market and the structure of the theory of safety,” he said. “If your theory of safety is, ‘We'll always have some assets on hand. That will be good enough,’ then you're leaving out operational risk. You can be hacked. Something could go wrong. You're not covering that.” Crypto moves faster than legislators Even if California Gov. Newsom signs the bill into law this week, it won’t come into effect until 2025 based on the bill’s wording. “This is highly likely to be way outdated and possibly inapplicable by the time we get to 2025,” Chris Lavigne, co-chair of the digital assets group at New York-based law firm Withers, told CoinDesk. “By 2025, I suspect the regulatory regime will have dramatically changed, and so I don't know to what extent this bill will become outdated and the laws in it will become outdated.” Lavigne, like Grey, also takes issue with California doing something that’s more logical for the federal government to handle. “This notion that they're going to prohibit California-licensed entities dealing with stablecoins unless it's issued by a bank licensed by California is a wildly aggressive position,” he said. “It would prohibit effectively most exchanges from either operating in California or the companies would have to cordon off their geofence people in California and not offer some of the digital assets that are on their exchanges, for example, in California.” A bill that may ripple widely Despite Asia’s large growing pools of liquidity, the U.S. remains the most important market for digital assets. At the end of the day, this complicates things much like how exchanges and protocols without meaningful exposure to the U.S. must be cognizant of New York’s rules, especially as these rules are more stringent. “This creates a situation where California is trying to create some sort of standalone regime where in order to play ball in the United States, you have to first satisfy California regulators,” Lavigne said. But who knows where we’ll be in 2025. Maybe by then, bitcoin will have gone down to $0. Important events Future Proof Festival (Huntington Beach, Calif.) Nearcon (Lisbon) CoinDesk TV In case you missed it, here is the most recent episode of "First Mover" on CoinDesk TV : Bitcoin Drops as August CPI Shows Inflation at 8.3% The August consumer price index (CPI) was released, showing inflation at 8.3% over the past year, which was higher than expected considering that gas prices declined. FalconX co-founder and CEO Raghu Yarlagadda joined "First Mover" to discuss crypto markets, including the latest inflation data and the historic Ethereum Merge that is nearly upon us. Also joining "First Mover" was Raj Gokal, Solana Labs chief operating officer and Securitize founder and CEO Carlos Domingo. Headlines Craig Wright Won’t Give Cryptographic Proof He’s Satoshi, His Lawyers Say at Hodlonaut Trial: Wright’s attorneys say his scholarly work, personal history and, above all, his success convincing Gavin Andresen that he held Satoshi’s private keys are proof enough. Wall Street Titans' New Crypto Exchange Aims to Seriously Cut Costs for Investors: EDX Markets, backed by major trading and investment firms like Schwab and Citadel Securities, will initially offer only a handful of cryptocurrencies such as bitcoin. 4 Things Blockchain Analysts Are Saying About the Ethereum Merge: Investors are increasingly turning to futures markets over spot markets in order to readjust their exposure ahead of the Merge, researchers said. Twitter Shareholders Approve Musk Buyout Offer: Report: The Tesla CEO has repeatedly tried to back out of the $44 billion takeover deal. Nansen Casts Doubt on Merge-Initiated Staked ETH Sell-Off: More than 70% of staked ETH is worth less today than when first purchased, the crypto analytics firm found. || First Mover Americas: Bitcoin Now Below $19K as Merge-Fueled Ethereum Classic Hype Unwinds: • Price Point:Bitcoin approaches 2022 lows, sliding below $19K for the first time in months, as fears of hawkish Federal Reserve monetary policy continue to haunt traditional markets. • Market Moves:Even in a bear market, bitcoin’s share of the overall crypto market capitalization is shrinking. This article originally appeared inFirst Mover, CoinDesk’s daily newsletter putting the latest moves in crypto markets in context.Subscribe to get it in your inbox every day. Bitcoin (BTC) was trading below the $19,000 threshold on Wednesday, down 6%, approachingthis year’s lows. The world’s largest cryptocurrency by market value lost $1,000 in around four hours. There was a mixed mood in markets. Futures tied to all three major U.S. stock indexes ticked up after two days of losses and European stocks were lower as the energy crisis prevailed in the region with skyrocketing natural gas prices. Florian Giovannacci, head of trading at Covario AG, expects bitcoin’s weakness to continue in the mid to short term as he sees the energy crisis to be the leading topic for the next few months. “Right now it is really hard for investors to estimate the full impact on inflation and economic activity in general,” said Giovannacci in an interview with CoinDesk. “A lot of uncertainty is creating a very risk-off sentiment, where the first assets to be hit are high risk assets such as crypto.” According todatafrom CoinShares, bitcoin investment products saw redemptions totalling $11 million last week, representing a fourth consecutive week of outflows. However, short-bitcoin investment products saw a record $18 million inflows last week. Ether (ETH), which had a considerably better day than bitcoin Tuesday, appeared to be making up the difference on Wednesday: It was trading down 10% over the last 24 hours. ETC, the token for Ethereum Classic, seen as a possible destination after Ethereum’s Merge for crypto miners who want to stay on a proof-of-work blockchain, tumbled 17% over the past 24 hours. The move almost completely wiped outbig gains notched earlier in the week. In the news, senior executive departures fromPantera Capital,a major cryptocurrency hedge fund and venture capital investor with $4.7 billion in assets, are wider than previously reported, according to people familiar with the matter. Curve Finance,a prominent stablecoin swap application is nearing the launch of its native stablecoin, dubbed crvUSD, as per the initial code released by its developers on Tuesday. There are no gainers in CoinDesk 20 today. [{"Asset": "Polygon", "Ticker": "MATIC", "Returns": "\u22129.4%", "DACS Sector": "Smart Contract Platform"}, {"Asset": "Ethereum", "Ticker": "ETH", "Returns": "\u22128.1%", "DACS Sector": "Smart Contract Platform"}, {"Asset": "Loopring", "Ticker": "LRC", "Returns": "\u22128.0%", "DACS Sector": "Smart Contract Platform"}] Bitcoin dominance reaches lowest point since January By Lyllah Ledesma and Omkar Godbole With investors’ eyes on ether as theMergeapproaches, bitcoin’s dominance has dropped to levels not seen since January. Bitcoin's dominance rate, or the leading cryptocurrency's share in the broader market, declined to 39.22% early Wednesday, the lowest since January 16, according to charting platform TradingView. BTC's dominance could bounce, as pointed out by Scott Melker, popularly known as "The Wolf Of All Streets." The question is whether the impending rise in BTC's dominance will stem from a market-wide collapse or a continued ether outperformance. ETH vs BTC reaches new high The price ratio between ether and bitcoin - tickerized as ETHBTC – is currently trading at 0.0839, a new yearly high. Last year, ether traded above the current level versus bitcoin on nine occasions, emphasizing that ether is trading at rare highs versus bitcoin, according to Arcane Research. “This shows the strength of the Merge narrative in the market,” said Arcane. • Staked Ether Price Discount Widens to Most Since June Ahead of Ethereum Merge: The discount in Lido's staked ether is widening, perhaps due to holders switching to ETH ahead of the Merge. • Ether, ADA Lead Steep Crypto Slide Amid Dollar Strength: Some analysts said impending monetary tightening could add to a global rout across major asset classes such as equities and crypto. • DeFi Platform Curve Finance Takes First Steps Toward crvUSD Stablecoin: Details on the actual usage of crvUSD are scarce at writing time, and Curve developers declined to share more information about the tokens with CoinDesk. • Ethereum Merge: What You Need to Know: Our FAQ on the blockchain's coming overhaul. || Crypto Miner Core Scientific Cuts 10% of Staff, Keeps Hashrate Projection: Crypto miner Core Scientific (CORZ) cut 10% of its staff and dramatically reduced the value of its assets as the cryptocurrency rout continued to drag on the industry. The workforce reduction was announced Thursday as the companyreportedits second-quarter financial results, which included an $840 million charge to reduce the accounting value of its assets that took the Core's net loss for the period to $862 million. CFO Denise Sterling said during the earning conference call that the staff cuts were "surgical" and didn't affect operational personnel in Core Scientific's data centers. Like other bitcoin miners amid the crypto winter, the company has been forced to shore up its liquidity. In July, Coresold morebitcoin than it mined, in part to keep up with costs. However, Core stuck with its forecast for the company's hashrate, a measure of computing power on the Bitcoin network and a key metric for mining companies. On May 12, Core Scientific lowered its2022 hashrateprojection to 30-32 exahash per second and total power of about 1 gigawatt, citing market turmoil. The company retained that forecast Thursday. The miner reported $164 million in revenue, narrowly beating the average analyst estimate of $161.8 million, according to FactSet data. Revenue more than doubled from a year earlier, driven by "increases in digital asset mining revenue and hosting revenue, partially offset by a decrease in equipment sales," the earnings report said. CEO Mike Levitt said during the earnings call that two-thirds of the company's 2022 growth is set to take place in the second half of the year. But the miner's personnel and facilities costs have also climbed by 25% compared to last year, while their power cost has reached $0.05-$0.055 per kilowatt hour. Answering several questions from concerned analysts about the company raised its power-cost expectations for the year, Levitt pointed to the company's Georgia facility, where Core faces the greatest exposure to rising natural gas prices. The miner is trying to get a better arrangement with its energy provider, the CEO said. The miner is also thinking about scaling up its operations such that economies of scale bring down unit costs. The company mines bitcoin for itself while alsohosting other companies’ bitcoin mining machines. Revenue from hosting was up 110% compared with a year earlier, while self-mining revenue rose 920%. Hosting is in high demand after available rack space dwindled. But Levitt noted that "a lot of folks that don't have a home for their mining equipment also don't have capital" and Core is only interested in working with clients who can make prepayments and are "very, very credit worthy." At the same time, Core has had to re-examine the profitability of its hosting business, the CEO said. "In the good old days, we used to be a reseller of servers, and there was margin in that," Levitt said. "We could look at the margin of that, and combine that with our hosting agreements, and look at the overall profitability. Now that we really don't have a very vibrant reseller business, because most folks are going direct to the manufacturers. Our hosting business needs to stand on its own two feet," he said. Core produced 3,365 bitcoin for itself and, as of the end of the quarter, it holds 1,959 bitcoins in its reserve. Shares of the miner fell about 1% following the report. The stock has fallen about 68% this year, in-line with its bitcoin mining peers as bitcoin price fell nearly 50%. UPDATE (Aug. 11, 22:26 UTC): Adds details from earnings conference call throughout. || Crypto has dropped in value. Why is Miami Mayor Francis Suarez still supporting it?: Miami Mayor Francis Suarez is still publicly promoting cryptocurrency following a crash in the price of Bitcoin that has led digital currency enthusiasts to discuss how to weather the downturn. The mayor told the Miami Herald he still wants to make Miami a crypto capital. He said he is still converting 100% of his city salary into Bitcoin, though he declined to discuss his current cryptocurrency holdings. Recently released financial disclosures show that as of the end of 2021 he held a cryptocurrency account with $10,761.49 . Suarez also said he still wants to use his position as president of the U.S. Conference of Mayors to sponsor a “crypto compact” that would promote the use of digital currency and foster education about digital currency. “Educating policymakers on how to derive utility from this technology will be pivotal in making it more ubiquitous in our lives,” Suarez said in emailed responses to questions earlier this month. “American citizens need to feel confident in their leaders’ ability to comprehend this highly transformative tech.” The mayor’s continued enthusiasm for cryptocurrency comes as the world of digital currency has slipped into financial turmoil. The price of Bitcoin has hovered around $20,000 for about a month following several dips this year after peaking at around $68,000 in November. Suarez’s support for the industry led organizers of the World Digital Mining Summit , an international conference, to invite the mayor to give opening remarks at its event in Miami Tuesday. He couldn’t appear in person due to a scheduling conflict, but he sent a prerecorded video message to welcome hundreds of attendees who came from around the world to the gathering, which was organized by Bitcoin mining hardware manufacturer Bitmain . “Digital currency offers the potential for all of us to create a generation of prosperity for our children and their children,” Suarez said in his video. “While other cities and other countries attack cryptocurrency, mining and new Web3 technology, Miami has chosen to embrace this technology, welcome its engineers and entrepreneurs, and champion the digital revolution for all who seek a future that is free, fair and prosperous. “ Story continues People discuss cryptocurrency at the various booths during the World Digital Mining Summit at the Mandarin Oriental in Miami, Florida on Tuesday, July 26, 2022. Other speakers at the conference discussed the challenges of starting and maintaining Bitcoin mining businesses when the value has dropped, though they projected optimism about an industry that they say will be sustainable long term. Mike Levitt, CEO of publicly traded cryptocurrency mining company Core Scientific, told the audience that the downturn in the Bitcoin market will lead to consolidation in the “young” industry. He also predicted that the industry would emerge from the downturn with new opportunities that will lead to profit. Levitt’s company is the largest U.S.-based Bitcoin miner by computing power, and during the price drop it has sold much of its Bitcoin holdings to raise dollars to meet its obligations . Despite the industry’s financial turmoil, which has led to some crypto companies’ bankruptcies , Levitt encouraged miners to build up their businesses amid the market slump. “We’re working to build a business model that we believe will endure for the long term,” he said. “Let’s face it, we all in this room think that this is a very long-term business. It’s just got some short-term volatility.” Co-Founder, Co-Chairman and CEO of Core Scientific Mike Levitt speaks at the World Digital Mining Summit at the Mandarin Oriental in Miami, Florida, on Tuesday, July 26, 2022. MiamiCoin crash That volatility was displayed in MiamiCoin, a cryptocurrency branded after the Magic City but not formally affiliated with the city government. Suarez touted MiamiCoin as a boon for the city because mining MiamiCoins results in money to the city. The process involves what can be described as a raffle involving a separate cryptocurrency token, Stacks. One can bid for MiamiCoins using Stacks tokens. The winner can hold on to their MiamiCoins and “stack” them to receive rewards in Stacks tokens. The tokens used to bid for MiamiCoin go into a pool, with 70% going to those who choose to “stack” MiamiCoins and 30% going to a wallet for Miami’s city government. The city can have the Stacks converted into dollars. In February, the city received $5.25 million from the group that created the token, CityCoins, and the money has been earmarked for rental assistance for struggling tenants. But MiamiCoin’s value has tanked since it peaked shortly after debuting in 2021. The token value has tumbled nearly 99% since its highest price of about 6 cents. Suarez has consistently defended cryptocurrency amid the volatility, arguing that even in recent price drops, one Bitcoin is still far more valuable than the dollar. The mayor has conceded that MiamiCoin has not been a success as a new cryptocurrency, but he touted the dollars it put in the city’s coffers and continued to push the idea that city-branded tokens could help fund city governments. “As I’ve said, innovation doesn’t always work , and unfortunately, MiamiCoin hasn’t been as promising as it first seemed,” Suarez told the Herald. “But I do take a lot of pride in the fact that we turned the money we did earn into immediate rental relief for Miami residents — it served as proof that this model has the potential to change the way local governments can create revenue streams and invest directly in quality of life improvements.” The mayor’s push to make Miami a crypto capital has led critics to point out that the lack of regulation in the industry allows money to move anonymously, enabling criminals to operate outside a financial system with safeguards. Others have slammed Suarez’s comments on MiamiCoin as an irresponsible promotion of digital currency with no practical use and a problematic mining process. Suarez has publicly stated he has spoken with CityCoins about adjusting MiamiCoin’s “tokenomics” — how the token is issued, how much is in supply and its utility. Urban technology researcher Mike Bloomberg , who has experience working in local government, told the Herald the city should have identified MiamiCoin’s shortcomings before agreeing to accept money from the project. “All that’s stuff embedded in the code. It was all laid out ahead of time,” Bloomberg said. “It was an incredible lack of diligence on the city’s part.” || Stock Market Today: Stocks Score a Hard-Fought Win to Start the Week: blue arrow pointing up in front of stock chart Getty Images The Federal Reserve was top of mind for investors Monday, with the central bank's next policy decision – a likely 75 basis-point rate hike – due out Wednesday. This led to back-and-forth trading for much of the session, though the major market indexes ultimately ended in positive territory today. SEE MORE 16 Dividend Kings for Decades of Dividend Growth While the economic calendar is relatively thin over the next few days, Wall Street will see a round of housing data in the leadup to the Fed announcement. Today, that was the release of the National Association of Home Builders (NAHB)/Wells Fargo housing market index, which showed builder confidence fell 3 points in September to 46, its lowest level since spring 2020. This was the ninth straight monthly drop in the index, and came amid a "combination of elevated interest rates, persistent building material supply-chain disruptions and high home prices [that] continue to take a toll on affordability," the report stated. "We expect the other housing market releases this week (housing starts, existing home sales and building permits) will show similar weakness," says Raymond James economist Giampiero Fuentes. "Bad news continues to be good news for the Fed, as it indicates its tightening cycle is working to slow demand." Sign up for Kiplinger's FREE Investing Weekly e-letter for stock, ETF and mutual fund recommendations, and other investing advice. In terms of sector performance, materials stocks (+1.7%) were the leaders. Healthcare (-0.5%), meanwhile, lagged as COVID-19 vaccine makers like Pfizer ( PFE , -1.3%) and Moderna ( MRNA , -7.1%) slid after President Joe Biden said in last night's "60 Minutes" interview that "the pandemic is over." SEE MORE 12 REITs Flaunting Fast-Growing Dividends As for the major indexes, the Nasdaq Composite rose 0.8% to 11,535, while the S&P 500 Index (+0.7% at 3,899) and the Dow Jones Industrial Average (+0.6% at 31,019) also closed higher. Story continues price chart for Dow, S&P 500 and Nasdaq on Monday, September 19 YCharts Other news in the stock market today: The small-cap Russell 2000 gained 0.8% to 1,812. U.S. crude futures rose 0.7% to finish at $85.73 per barrel. Gold futures slipped 0.3% to settle at $1,678.20 an ounce. Bitcoin shed 0.3% to $19,561.50. (Bitcoin trades 24 hours a day; prices reported here are as of 4 p.m.) AutoZone ( AZO ) fell 3.1% after the auto parts retailer reported earnings. In its fiscal fourth quarter, AZO recorded earnings of $40.51 per share and revenue of $5.35 billion, both higher than analysts were expecting. Same-store sales growth of 6.2% also beat the consensus estimate. "We think the release will go a long way towards easing investor concerns regarding a slowdown in DIY auto aftermarket sales after Advance Auto Parts' earnings miss and guidance cut last month, which it blamed on weak DIY demand," says CFRA Research analyst Garrett Nelson. "We maintain a Hold on valuation, noting that AZO has been the best-performing auto aftermarket stock so far this year." Airline stocks were some of the best performers today. Among those taking flight were American Airlines ( AAL , +3.4%), Delta Air Lines ( DAL , +2.6%) and United Airlines ( UAL , +3.3%). Why Investors Should Consider EV Stocks Rising interest rates have made it a particularly difficult year for growth stocks. This is because higher rates can boost borrowing costs for these companies. And this, in turn, can weigh on their profit margins. One area of growth that has been hit particularly hard are makers of electric vehicles (EVs) , which, in addition to battling higher rates, have also had to contend with rising competition, with nearly every traditional automaker throwing their hat into the EV ring. SEE MORE 5 Stocks Making the Most of Supply-Chain Issues But this ramp up in competition isn't necessarily bad for electric vehicle stocks. Rather, it expands the overall market, and that market is growing by leaps and bounds, with EV sales up 63% year-over-year in the first half of 2022, according to research firm Canalys. For investors, this year's pullback in EV stocks creates an opportunity to get in on a growing trend at a more attractive valuation. Here, we've put together 10 electric vehicle stocks to watch as industry sales heat up. Check them out. SEE MORE Who Are the Best Small Online Brokers? You may also like How Big Will the Fed Rate Hike Be? Wall Street's Top Minds Weigh In Your Guide to Roth Conversions Protect Your Retirement Income from Inflation || Bitcoin, Ether trade lower ahead of FOMC meeting: Bitcoin and Ether were trading lower in anticipation of an upcoming U.S. Fed meeting that is widely expected to raise interest rates by 75 basis points. See related article:Crypto market pain will continue but still bullish on Bitcoin lending: Silvergate • Bitcoin was trading at US$21,130 at 12:30 p.m. on Tuesday HKT, down 3.3% in the past 24 hours,according to datafrom CoinMarketCap. • The price of Ethereum fell by 5.5% in 24 hours to US$1,430, the data showed. • The Federal Open Market Committee,set to meeton Wednesday and Thursday, isexpected to raise interest rates by 75 basis pointsfor the second straight month. • The U.S. Consumer Price Indexjumped 9.1% in Junefrom a year ago, recording a four-decade high. • Economists are predicting a slower pace of interest-rate increases after the anticipated increase this week, according to aBloomberg survey. See related article:Bitcoin, Ether recover as Fed guidance reduces policy uncertainty [Random Sample of Social Media Buzz (last 60 days)] None available.
Trend: up || Prices: 18890.79, 18547.40, 19413.55, 19297.64, 18937.01, 18802.10, 19222.67, 19110.55, 19426.72, 19573.05
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 2019-04-16] BTC Price: 5235.56, BTC RSI: 69.66 Gold Price: 1272.60, Gold RSI: 36.88 Oil Price: 64.05, Oil RSI: 66.99 [Random Sample of News (last 60 days)] AUD/USD Forex Technical Analysis – March 19, 2019 Forecast: The Australian Dollar is edging higher on Tuesday shortly after the release of the minutes of the Reserve Bank of Australia (RBA) monetary policy meeting earlier in the month. RBA policymakers showed no signs they were in a hurry to reduce interest rates. Instead, Australia’s central bank held firm on rates, even as a slide in the nation’s home prices deepens, as it awaits a resolution to the divergence between strong hiring and decelerating economic growth. “Members agreed that there was not a strong case for a near-term adjustment in monetary policy,” the minutes of its March 5 policy meeting released in Sydney Tuesday showed. “Rather, they assessed that it would be appropriate to hold the cash rate steady while new information became available that could help resolve the current tensions in the domestic economic data.” At 01:55 GMT, theAUD/USDis trading .7108, up 0.0004 or +0.07%. The main trend is up according to the daily swing chart. A trade through yesterday’s high at .7120 will reaffirm the uptrend. A move through .7041 will change the main trend to down. The AUD/USD is currently trading inside a major retracement zone at .7079 to .7153. This zone is controlling the longer-term direction of the Forex pair. The main range is .7207 to .7003. Its retracement zone at .7105 to .7129 is currently being tested. This zone falls inside the major retracement zone. On the downside, the support is another major retracement zone at .7030 to .6967. This zone provided support on March 8 when the AUD/USD reached a bottom at .7003. Based on the early price action on Tuesday, the direction of the AUD/USD the rest of the session is likely to be determined by trader reaction to the 50% level at .7105. A sustained move over .7105 will indicate the presence of buyers. The next upside target is a downtrending Gann angle at .7117. This is followed by yesterday’s high at .7120 and a Fibonacci level at .7129. The Fib level at .7129 is the trigger point for an acceleration to the upside with the next target coming in at .7153. A sustained move under .7105 will signal the presence of sellers. If this generates enough downside momentum then look for a potential plunge into the major 50% level at .7079, followed closely by an uptrending Gann angle at .7073. The Gann angle at .7073 is also the trigger point for an acceleration into the next uptrending Gann angle at .6968. Thisarticlewas originally posted on FX Empire • Gold Price Forecast – Gold markets continue to grind • Bitcoin And Ethereum Daily Price Forecast – Major Crypto’s Rangebound After Another Dead Cat Bounce • Stock Market Overview – Energy Shares Outperform, Boeing Weighs on Dow Industrials • Natural Gas Price Prediction – Prices Rebound on Strong Export Demand • Crude Oil Price Forecast – Crude oil markets rally to kick off the week • USD/CAD Daily Price Forecast – USD/CAD Rangebound Ahead Of FOMC Update || Top 5 Crypto Performers Overview: Binance Coin, Bitcoin SV, Ripple, Dash, Litecoin: 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 the HitBTC exchange. The crypto markets are showing signs of bottoming out. Bitcoin gained about 11 percent in February, its first month to close positively since July of 2018. Bitcoin is not the only cryptocurrency being favored by the market participants.  A number of other major coins are also looking strong and have recovered from their lows. The news of Facebook exploring options to launch its own cryptocurrency has been received as bullish. The new Samsung smartphone, Galaxy S10 will have a crypto wallet for Bitcoin and Ethereum. All these efforts will introduce cryptocurrencies to a global audience. The fundamentals in the crypto industry have been improving for the past few months. The institutional players are recognizing these developments and have started making forays into the space. We expect greater participation from the institutions after the cryptocurrency market at large confirms a bottom. Hence, the traders can start initiating positions in the coins that have bottomed out or are displaying a good risk to reward ratio. BNB/USD Binance Launchpad platform has concluded a successful sale of the Fetch.AI (FET) token within 22 seconds on Feb. 25. This shows that there is market demand for what Binance Launchpad does. A few weeks back, a similarly successful sale of Tron-based BitTorrent token (BTT) had completed in 15–18 minutes. In order to speed up the launch of its mainnet, Binance is handing out rewards for testing the company’s new decentralized trading platform Binance DEX. Binance Coin ( BNB ) has benefitted from these positive headlines. Can the price move higher? Let’s find out. BNB/USD The BNB/USD pair has risen by almost 174 percent from its early-December lows. After the recent pullback, the price has covered a lot of ground and now remains only about 56 percent below its lifetime highs. This clearly shows a strong demand for the digital currency. Story continues Currently, the price is close to the critical overhead resistance of $12. A break out of this can carry the pair towards the next target of $15, and above it to $18. On the other hand, if the bulls fail to scale and sustain above $12, a few days of consolidation or a minor dip cannot be ruled out. While short-term traders can buy on a breakout above $12, the long-term players can wait for a minor dip to enter. BSV/USD Bitcoin SV (BSV) was the second-best performer of the week. It rallied sharply on Feb. 25 and 26 as the cryptocurrency got listed by payment processor CoinGate, as well as by a Turkish exchange Vebitcoin . Increased support has been welcomed by market participants. Can the price move up, or will it give up all the recent gains? BSV/USD The BSV/USD pair has a short trading history. It is currently trying to bottom out closer to the support at $65.031. Multiple attempts to sink the pair have failed, as selling dries up at lower levels. This is a positive sign that shows that buyers are keen to invest on the dips. If the price closes (UTC time frame) above $71.412, it will be likely to rally to $123.980. Conversely, if the pair breaks down of the immediate support at $58.072, a drop to the low at $38.528 will become probable. LTC/USD The Litecoin ( LTC ) Foundation has partnered with premier kickboxing league Glory to make LTC the official cryptocurrency for Glory’s various events and its online merchandise platform. With this, Litecoin aims to reach out to the large fanbase of the league. LTC/USD The LTC/USD pair has not given up much ground after hitting the overhead resistance of $47.2460 three weeks ago. This shows that the bulls are in no urgency to book profits after the rally from the lows. If the price breaks out and sustains above $47.2460, it will indicate a probable bottom. The 20-day EMA has flattened out, and the RSI has also climbed close to the midpoint. This shows that the bulls are at an advantage in the near term. Traders can buy on a weekly close (UTC time frame) above $47.2460, and keep a stop loss below $29 initially. This can be trailed higher to $40 within the next several days. The target to watch on the upside is $69, and above it $94. However, if the digital currency fails to sustain above $47.2460, it can again turn down and correct to $40, and below it to $29. XRP/USD Ripple ( XRP ) got listed on the Coinbase Pro trading platform on Feb. 25. On Feb. 28, Coinbase announced support for the digital currency on its retail platform and mobile apps. Nasdaq is also planning to list a separate index tracking the price of Ripple. The Thai Securities and Exchange Commission has included Ripple in the list of tokens suitable for initial coin offerings. While some believed that Ripple had to offer Coinbase a certain incentive or money to get listed, the company has denied it. Although there was a lot of talk about JPM, the recently announced stablecoin by JPMorgan Chase, a research by Binance has concluded that it will not be a threat to Ripple’s XRP token in the near term. XRP/USD The XRP/USD pair continues to trade inside a descending channel. It is currently attempting to rise after taking support at $0.27795. However, it is facing selling close to the 20-week EMA. A rise above this could push the price to the resistance line of the descending channel near $0.40. A breakout and close (UTC time frame) above the channel will indicate a change in trend. On the other hand, if the bulls fail to break out of the 20-week EMA, the bears will again try to break down of $0.27795. A drop below the support zone of $0.24508 –$0.27795 will resume the downtrend. DASH/USD Dash has been a popular mode of transaction in Venezuela and continues to gain ground. Church’s Chicken Venezuela fast food chain accepts the coin in 10 of their 13 locations. It also keeps launching promotional activities in collaboration with Dash to attract more people towards using the cryptocurrency. Brazilian crypto exchange CoinBene has integrated Dash, giving the coin an opportunity to expand its presence in the country. DASH/USD The DASH/USD pair has been trying to form a base for the past few weeks. The price is currently stuck between $56.214 on the downside, and $103.261 on the upside. The 20-week EMA is also just above the range. Hence, a breakout of the 20-week EMA is likely to attract buying that can propel the price towards $175, and above it to $224. On the other hand, if the price fails to break out of the resistance of the range, it will consolidate for a few more weeks. The trend will turn negative if the bears push the price below the support of $56.214. We could not find any reliable trade setups at the current levels. Market data is provided by the HitBTC exchange. Charts for analysis are provided by TradingView . Related Articles: Bitcoin, Ethereum, Ripple, EOS, Litecoin, Bitcoin Cash, Binance Coin, Stellar, Tron, Bitcoin SV: Price Analysis, March 4 Bitcoin, Ethereum, Ripple, EOS, Litecoin, Bitcoin Cash, Stellar, Tron, Binance Coin, Bitcoin SV: Price Analysis, March 1 Bitcoin, Ethereum, Ripple, EOS, Litecoin, Bitcoin Cash, Stellar, TRON, Binance Coin, Bitcoin SV: Price Analysis, February 27 Bitcoin, Ethereum, Ripple, EOS, Litecoin, Bitcoin Cash, Stellar, Tron, Binance Coin, Cardano: Price Analysis, Feb. 25 || Bitcoin, Ethereum, Ripple, Litecoin, EOS, Bitcoin Cash, Binance Coin, Stellar, TRON, Cardano: Price Analysis, March 13: 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 the HitBTC exchange. Barclays internet analyst Ross Sandler believes that a cryptocurrency by Facebook could add $19 billion to its revenue by 2021. If that happens, it will help expand the reach of cryptocurrencies and will be a major sentiment booster for the whole sector. Overstock.com’s blockchain subsidiary, Medici Ventures has purchased a 5.1 percent stake in the blockchain banking platform Bankorus. The firm has purchased significant stakes in various blockchain companies. It is not only in the West that crypto is generating significant interest. Chinese cryptocurrency mining manufacturer Canaan Creative is rumored to have secured hundreds of millions of dollars of financing from unnamed parties. We find numerous companies that have been moving ahead with blockchain - and crypto-related projects. This shows that the sector is generating huge interest from traditional players. It is only a matter of time before the price of cryptocurrencies starts to react to all these positive fundamental developments. However, analysts at Bloomberg expect Bitcoin to head southward . They have observed that the price action is similar to November of last year, which had led to a sharp fall. But what do our charts forecast? Let’s find out. BTC/USD The bulls are providing support to Bitcoin ( BTC ) at the 20-day EMA. Both the moving averages are gradually moving up and the RSI is in the positive zone. This shows that bulls have a slight advantage. However, in order to solidify their position, they should quickly carry the digital currency above $4,000. We expect a new uptrend on a breakout and close above $4,255, as it will complete a double bottom pattern that has a target objective of $5,273.91. Traders can add to their long positions on a close (UTC time frame) above $4,255. Story continues BTC/USD On the downside, the BTC/USD pair has support at the 20-day EMA. If this breaks, the next support is at the uptrend line and finally at the 50-day SMA. If the pair plummets below the 50-day SMA, it can drop to the final support zone of $3,355–$3,236.09. This is the last support, below which, the downtrend will resume. Therefore, traders can maintain their stops on the existing long positions below $3,236.09. We shall raise the stop loss before the end of this week. ETH/USD The bulls are struggling to keep Ethereum ( ETH ) above $134.50. Though they purchased the dip to the 50-day SMA on March 12, they have not been able to sustain above the 20-day EMA. Currently, both the moving averages are flattening out and the RSI is close to the midpoint. This suggests a consolidation in the near term. ETH/USD A breakdown of the 50-day SMA can sink the ETH/USD pair to the next support at $116.30. This is a major support, as the uptrend line of the ascending channel also lies at this level. Hence, we anticipate buyers to step in and buy close to $116.30. But if the pair breaks down of this critical support, a drop to $102.49 is probable. Conversely, if the bulls scale above $144.78, the up move can reach $167.32. The ascending triangle pattern will complete on a breakout and close above $167.32. This has a pattern target of $251.64. Traders can keep the stops on the remaining long positions at $125. XRP/USD The intraday range in Ripple ( XRP ) had been shrinking for the past few days. The attempt by the bulls to resolve the tight range on the upside is not finding buyers at higher levels. This is a bearish sign. A breakdown of the uptrend line can sink the virtual currency to the next support at $0.27795. If this level also breaks down, the final support is the yearly low of $0.24508, below which the downtrend will resume. XRP/USD However, as long as the XRP/USD pair stays above the uptrend line of the ascending triangle, the bulls are likely to attempt to scale above $0.33108 once again. On a close (UTC time frame) above $0.33108, the pair is likely to pick up momentum and rally to the downtrend line of the descending channel. A breakout of the channel will indicate a likely change in trend. For now, traders can keep the stop loss on the long positions below $0.27795. LTC/USD Litecoin ( LTC ) found support close to the 20-day EMA on March 12, but the bulls have not been able to breakout of the overhead resistance at $56.910. However, both the moving averages are sloping up and the RSI is in positive territory, which suggests that the bulls have the upper hand. A breakout and close (UTC time frame) above the overhead resistance zone of $56.910–$59.4494 can propel the digital currency to $65.5610 and above it to $69.2790. LTC/USD Contrary to our assumption, if the LTC/USD pair breaks down of the 20-day EMA, it will weaken the momentum and a fall to $47.2460 is probable. Therefore, traders can protect their gains on the remaining long positions with the stop at $50. The only thing bearish on the chart is the negative divergence on the RSI. EOS/USD EOS has failed to cross above the downtrend line for the past four days. However, a positive is that it has not yet broken down of the 20-day EMA. If the digital currency breaks out of the downtrend line and $3.8723, it can pick up momentum and rally to $4.4930. EOS/USD On the other hand, if the bears sink the EOS/USD pair below the 20-day EMA, it can fall to the next support at $3.1534. The 50-day SMA is also located at this level, hence, we expect strong demand at this level. But if the seller’s break down of this critical support, it will re-enter the range and can slide to $2.1733. Hence, traders can protect their remaining long positions with the stops at $3.10. BCH/USD Bitcoin Cash ( BCH ) had dipped closer to the bottom of the $120–$140 range on March 12, where buying emerged. However, the bulls have not been able to push the price above the moving averages, which shows a lack of demand at higher levels. The bears are likely to attempt to breakdown of $120 level once again. If successful the digital currency can fall to $105, which is a strong support. But if this support gives way, a retest of the yearly low of $73.50 is probable. BCH/USD Conversely, if the BCH/USD pair rises above the moving averages, the bulls will attempt to breakout of $140 and rally to the next overhead zone of $157.95–$163.89. Above this zone, the next level to watch on the upside is $175. For now, traders can retain the stops on the long positions at $116. BNB/USD Binance Coin ( BNB ) broke out of the pennant on March 12 but is currently facing resistance at $15.9100517. Both the moving averages continue to trend up and the RSI is in the overbought zone, which shows a strong uptrend. BNB/USD A breakout of $15.9100517 can propel the BNB/USD pair to $18, above which a retest of the lifetime highs is possible. On the other hand, if the pair turns down from current levels, it has support closer to $14, below which a drop to the 20-day EMA is possible. As the traders have already booked partial profits earlier, we suggest to retain the stops on the remaining long positions at the breakeven. If the cryptocurrency does not sustain above $15.9100517  within the next couple of days, we shall suggest booking profits on the complete position. XLM/USD Stellar ( XLM ) has been consolidating for the past two days. We like that it has not given up much ground. The 20-day EMA is sloping up and the RSI is close to the overbought levels. This suggests that the bulls are at an advantage. A breakout of $0.011245806 can propel the digital currency to $0.13427050. XLM/USD Conversely, if the XLM/USD pair turns down from current levels, it can drop to the 20-day EMA, which is a critical support. If this support breaks, the pair can correct to the uptrend line. This line has provided support three times, hence, we expect the price to find buyers close to it. However, if the bears break down of the uptrend line, a retest of the yearly lows is possible. Therefore, traders can maintain the stops on the long positions at $0.08. TRX/USD Tron ( TRX ) has been sustaining below $0.02306493 for the past two days. This shows a lack of demand at lower levels. The 20-day EMA is sloping down and the RSI is languishing in the negative zone, which suggests that the path of least resistance is to the downside. TRX/USD The TRX/USD pair has support at $0.02094452, below which the slide can extend to the critical support of $0.01830. We expect the bulls to defend $0.01830, hence, we might suggest a long position if the pair bounces off this support. Our bearish view will be invalidated if the price bounces off the current levels and rises above the moving averages. We shall suggest a long position if the digital currency sustains above $0.02815521. Until then, we remain neutral. ADA/USD Cardano ( ADA ) has been range bound between $0.036815 and $0.051468 since Dec. 21. The price has bounced off the supports twice, which shows buying at lower levels. However, the bulls have not been able to break out of the range, which shows profit booking closer to the resistance of the range. ADA/USD The 20-day EMA is sloping up and the RSI has also moved into positive territory. This shows that the bulls have the upper hand in the short term. A breakout and close (UTC time frame) above $0.051468 is likely to result in a new up move that can carry the price to $0.066121 and if this is crossed, the rally can extend to $0.080. The traders can purchase the ADA/USD pair above $0.0565 and keep a stop loss at $0.044 for now. We shall trail the stop loss higher as the price moves up in our favor or if it fails to follow up after breaking out of the range. Market data is provided by the HitBTC exchange. Charts for analysis are provided by TradingView . Related Articles: Bitcoin, Ethereum, Ripple, Litecoin, EOS, Bitcoin Cash, Binance Coin, Stellar, TRON, Bitcoin SV: Price Analysis, March 11 Bitcoin, Ethereum, Ripple, EOS, Litecoin, Bitcoin Cash, Binance Coin, Stellar, TRON, Bitcoin SV: Price Analysis, March 8 Bitcoin, Ethereum, Ripple, EOS, Litecoin, Bitcoin Cash, Binance Coin, Stellar, Tron, Bitcoin SV: Price Analysis, March 6 Bitcoin, Ethereum, Ripple, EOS, Litecoin, Bitcoin Cash, Stellar, Tron, Binance Coin, Bitcoin SV: Price Analysis, March 1 || Gold Price Futures (GC) Technical Analysis – Close Below Major Retracement Zone Indicates Weakness: Gold futures are trading higher shortly before the close on Friday, but also in a position to finish lower for the week. Buyers came in early in the session as the market neared its low for the year. This triggered an intraday short-covering rally that was stopped by short-term retracement zone resistance. The direction of the market continues to be controlled by the U.S. Dollar and risk appetite. Helping to keep a lid on gold prices on Friday were a rise in the U.S. Dollar Index to its highest level since March 8, a two-day rise in Treasury yields and a strong stock market which is in a position to finish on its high for the week. At 20:07 GMT, June Comex gold is trading $1296.80. Daily June Comex Gold Daily Swing Chart Technical Analysis The main trend is down according to the daily swing chart. A trade through $1287.50 will signal a resumption of the downtrend. The main trend will change to up on a move through $1330.80. The long-term retracement zone is $1299.80 to $1325.90. This is the retracement zone of the contract’s range. Trader reaction to this zone will determine the longer-term direction of the market. On the downside, the next major retracement zone support is $1272.70 to $1253.00. Based on the current price action, this zone should become the primary downside target. The main range is $1256.00 to $1287.50. Its retracement zone at $1321.80 to $1329.80 provided resistance earlier in the week, stopping a rally at $1330.80. The long-term Fibonacci level at $1325.90 fell inside this retracement zone. The short-term range is $1287.50 to $1330.80. This zone stopped the rally on Friday and should be considered resistance. Daily Swing Chart Technical Forecast Based on Friday’s price action, it looks as if buyers came in at $1291.30 to defend the main bottom at $1287.50. This spooked a few of the weaker shorts enough to trigger an intraday short-covering rally. Clearly, the next major move in gold will be determined by trader reaction to $1287.50. Story continues Bullish Scenario Continuing to hold $1287.50 will indicate the presence of buyers. However, any rally is likely to be labored because of a series of retracement levels at $1299.80, $1304.00 and $1309.20. Taking out $1309.20 will indicate the buying is getting stronger. This could trigger a further rally into the next series of retracement levels at $1321.80, $1325.90 and $1329.80. Bearish Scenario A sustained move under $1287.50 could trigger a steep decline with the primary downside target the retracement zone at $1272.70 to $1253.00. This is likely to occur if a U.S.-China trade deal is announced. This article was originally posted on FX Empire More From FXEMPIRE: US Stock Market Overview – S&P 500 Notches Up 13% Quarterly Gain GBP/JPY Weekly Price Forecast – British pound continues to chop Bitcoin And Ethereum Daily Price Forecast – Crypto Bulls Finally Managed To Crack Hurdles To The Upside AUD/USD Weekly Price Forecast – Australian dollar continues to chop E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – Strengthens Over 7447.50, Weakens Under 7410.25 USD/CAD Daily Price Forecast – CAD Gains on Crude Oil Price Rebound || Tron (TRX) Jumps 8.5% in Market-Wide Upswing as Bulls Start Running: Tron's TRX jumped 8.5-percent against the US dollar per its 24-hour adjusted timeframe. Image: Shutterstock. By CCN.com : Tron’s TRX jumped 8.5-percent against the US dollar per its 24-hour adjusted timeframe. Tron (TRX) 1-hour price chart | Source: Yahoo Finance The TRX-to-dollar instrument ( TRX/USD ) was trading at 0.023 by 1400 UTC, down 4.16-percent from its intraday high. In contrast, the pair had dropped massively during Monday’s trading session, establishing a lower low towards 0.021. However, a market-wide upside correction saw to TRX/USD revival during Monday’s US session. The sentiment rippled through today’s Asian and European trading hours. As a result, the pair managed to settle a fresh intraday high towards 0.024. BITCOIN, TRON, CRYPTO, LITECOIN Performance of top ten crypto assets on Tuesday’s recovery session. | SOURCE: CoinMarketCap.com In total, the cryptocurrency market cap has surged from $125.418 billion to $130.66 billion in the past 24 hours. Among the high cap assets, Binance Coin and Litecoin are leading the bullish correction with gains ranging between 13-, and 18-percent. At the same time, Ethereum and Bitcoin Cash have registered close to 5-percent appreciation. Meanwhile, Bitcoin, XRP, and Stellar have jumped a modest 2- to 3-percent. Read the full story on CCN.com . || Bitcoin Rages Bullish in Technical Indicators For the First Time Since 2017: In recent months, the substantial increase in the daily volume of bitcoin and the rest of the cryptocurrency market has led analysts to suggest that the overall trading activity in the market is rising. While some stated that the minimal impact on the bitcoin price despite the large movements of alternative cryptocurrencies show a small inflow of capital into the crypto market, the general sentiment regarding the asset class has improved. According to one technical analyst, for the first time since the bull run in late 2017, a technical indicator called Bollinger Bandsis holding above the 30 moving average (MA) level, which often signals a positive upside movement. Throughout the past three months, bitcoin has struggled to move out of a tight range from mid-$3,000 to $4,000. On two occasions wherein bitcoin breached the $4,000 mark, the dominant cryptocurrency retraced fairly quickly back to the $3,800 to $3,900 range. For a breakout above the $4,000 to hold, several technical analysts including DonAlt have emphasized thatit is important for the asset to test key resistance levels, like $4,300 and $4,600. Read the full story on CCN.com. || $20 Million Bithumb Hack Exposes Alarming Threat to Bitcoin Exchanges: Bithumb, the largest bitcoin exchange in South Korea alongside Upbit, has been hacked for around $20 million. The company said that user funds stored in crypto cold storage wallets were not hacked, but corporate funds were moved. Cold storage wallets refer to offline wallets that are not connected to the internet that major exchanges utilize to eliminate the vulnerability of user funds in potential security breaches. In a surprising turn of events,Bithumbdisclosed that it believes the hack was an inside job and funds might have been moved by individuals associated with the company. The Bithumb hack comes in about a year sinceCoincheck, the biggest exchange in Japan, was hacked and less than nine months since Bithumb waslast hackedin 2018. In its official statement, Bithumb said that the company is conducting intensive investigations with cyber authorities inSouth Korea, acknowledging the incident as an inside job. “As a result of the internal inspection, it is judged that the incident is an ‘accident involving insiders.’ Based on the facts, we are conducting intensive investigations with KISA, Cyber Police Agency and security companies. At the same time, we are working with major exchanges and foundations and expect to recover the loss of the cryptocurrency equivalent,” the statement read. || An International Internet ETF to Consider: This article was originally published onETFTrends.com. Internet stocks are soaring this year and that theme is not confined to U.S. borders. Just look at theFirst Trust Dow Jones International Internet ETF(NASDAQ: FDNI), the international cousin to the wildly popularFirst Trust Dow Jones Internet Index (FDN) . FDNI tracks the Dow Jones International Internet Index. That benchmark “is designed to measure the performance of the 40 largest and most actively traded international stocks in the internet industry,”according to S&P Dow Jones Indices. “To be eligible for the index, a company must derive at least 50% of its cash flow from the internet, as well as be classified in one of the 17 GICS industry groups that have internet-related companies.” FDNI features exposure to 10 countries and the fund's geographic exposures are a mix of developed and emerging markets. However, the fund is Asia-heavy as China, South Korea and Japan combine for about 70% of FDNI's geographic weight. “The Internet is reaching further than ever before to connect our world, businesses and personal lives through what is known as the Internet of Things (IoT), or the billions of connected physical devices (cell phones, routers, wearables, home appliances, vehicles, to name just a few),”said First Trust. “We are now living in a universe of intelligent products, services and ways of conducting business that are increasing efficiency, while also uncovering a new era of economic growth.” Have you signed up for the ETF Trends Virtual Summit on Wednesday, April 17? It's complimentary for financial advisors (earn up to 5 CE Credits)!Register now to learn about inside the disruptive technology revolution. China Looms Large Alone, China commands nearly 51% of FDNI's geographic exposure. That is a point for investors to consider at a time when China's Internet growth remains robust and e-commerce growth there is surging. “Online retail sales in China exceeded ¥9trn in 2018, topping the world for the sixth consecutive year, spokesperson Gao Feng said during a regular conference of the Ministry of Commerce (MoC) on 21 March,”reports The Telegraph. “The country’s online retail sales maintained high-speed growth over the past 10-plus years, said Gao, who is also deputy director-general of the General Office of the MoC.” China has been looking to increase internal consumption to reduce the economy’s sensitivity to exports and those efforts appear to be paying dividends. While some data points indicate the Chinese economy and consumer spending are slowing, policymakers remain proactive. For more on thematic ETFs, please visit ourThematic Investing 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 • Using Merger Arbitrage as a Hedge Against Market Volatility • A Better Way to Determine Risk Exposure for Growth ETF Investors • Report Findings Highlight Fake Bitcoin Trading on Unregulated Exchanges • How to Manage A Mature Bull Market With Macro-Themed ETF Strategies • In the Know: Building a Low Cost, Defensive Portfolio READ MORE AT ETFTRENDS.COM > || Rakuten Wallet to relaunch as registered virtual currency exchange: E-commerce company Rakuten has finished the registration of its Rakuten Wallet cryptocurrency exchange, the company announced in a press release . The exchange, which was formerly called Everybody’s Bitcoin, changed its name to Rakuten Wallet this month. It will stop current service by the end of the month and relaunch services in April. The exchange has completed the registration of the exchange with the Kanto Local Finance Bureaum and will operate as a virtual currency exchange service provider based on the Payment Services Act. In order to be recognized as an exchange, the company needed to undergo restructuring, prepare a business improvement plan as well as strengthen its business management and internal control systems. || What is a bug bounty programme?: With over $1.5 billion worth of cryptocurrency stolen in 2018, the industry has proven to be a paradise for hackers. All the talk of blockchain technology being secure doesn’t make it bulletproof. And as for secondary software like wallet providers and exchanges, many still remain woefully vulnerable. This is where preventative initiatives like a bug bounty programme come in. What exactly is a bug bounty programme? In reality, ‘bug bounty’ has become the buzzword de jour. Other names for this type of cybersecurity activity are ethical hacking, white hat hacking, vulnerability rewards programme (VRP), and so on. However, the key difference between a bug bounty programme and white hat hacking is that the programme is initiated by the company itself. They actively invite hackers to look for flaws in their system and compensate them when they do. Many websites and software vendors pay a healthy compensation to ethical hackers who find flaws and report them. The bug reports need to contain enough information for the company to be able to reproduce the vulnerability themselves. Compensation is according to the size and scale of the vulnerability and the impact it could have. According to sources , Mozilla typically paid out a flat fee of $3,000 per bounty, whereas Facebook has paid up to $20,000. Apple even shelled out as much as $200,000 for a flaw in its iOS secure boot firmware components. Stopping the hackers before the damage is done Staying one step ahead of hackers is essential. That’s why blockchain companies should always have some kind of bug bounty programme or Ongoing Crowdsource Security Assessment (OCSA) in place. However, according to research on the top 100 cryptocurrency exchanges, only 13% of them do. Bug bounty programmes are usually very effective, but they can be controversial. After all, you’re essentially incentivising illegal activity – or worse, encouraging hackers who already steal funds to make an extra living. That said, a bug bounty programme can also result in employment and long-lasting relationships, as is the case with cybersecurity specialists Red4Sec and NEO . An example of ethical hacking as a service According to the co-founders of Red4Sec, Fernando Díaz Toledano and Jaime Kindelan, bug bounty programmes are even more relevant in blockchain than traditional internet applications. Why? Because of blockchain’s immutability. Jaime explains: “The main difference is that if you commit an error with blockchain, it is immutable. So, if you find an issue, it’s much harder to fix. The blockchain is designed to not be changed. So it’s much more important to be aware of all the potential problems in the initial phase.” Story continues Fernando echoes his words: “If you find a flaw in the blockchain, it’s not that easy to change it. It’s already written in the blockchain, it’s not like the web. Like with the hacks, once the funds have gone, they’ve gone. So it’s much more critical to concentrate on security and prevention in the initial phase.” This is where ethical hacking (or bug bounties) comes into play. The Red4Sec team has offered traditional cybersecurity services for many years. But, impassioned by new technology and always on a quest to learn more, they began analysing blockchains in 2017 and decided to focus on NEO. Jaime recalls: “Through our analysis, we found a couple of important vulnerabilities and we reported them to NEO. They liked how we did it, they gave us compensation and a three-month trial monitoring their blockchain. Since then, we have kept working with them and the City of Zion developers as well.” Fernando interrupts: “We have a very good relationship with them now, we’re actually members of the City of Zion and we’re also members of the NEO core development team. We’re very close.” Putting yourself in the shoes of a hacker I ask what’s the first thing they do when looking for ways to hack a blockchain. And for readers who didn’t know, it’s a myth that blockchains cannot be hacked. It’s just that the effort vs reward trade-offs are higher on some blockchains than others. Hacking the Bitcoin blockchain, for example, is technically possible, but it would require the resources of a small country and the payout would be less than the expense. Smaller blockchains and certainly private blockchains are much easier targets. Jaime continues: “What we do is analyse the code of the application, the smart contract, or the blockchain itself and ensure that there are no security vulnerabilities. “Then we do an auditorial phase…. We put ourselves in the shoes of the hacker and try to think about how a hacker would attack and how they would steal the money. Once we have found the way in, we correct it so that the window of opportunity is gone.” Final thoughts Bug bounties, ethical hacking, and any type of programme that finds flaws before hackers is vital to the continued security and evolution of blockchain technology. Companies like Red4Sec certainly have plenty of work considering the sheer volume of breaches and hacks in exchanges, blockchains, and smart contracts. However, even contemplating an increasingly large attack surface, this team isn’t deterred. They still believe that blockchain is the future and that all applications will eventually migrate to it. And while there are plenty of breaches, Fernando ends on a positive note: “When we started in blockchain security, we definitely saw a lot of projects that were lax with their security and didn’t look into it enough. We’ve seen much more awareness over security lately, and it’s definitely improving.” The post What is a bug bounty programme? appeared first on Coin Rivet . View comments [Random Sample of Social Media Buzz (last 60 days)] ツイート数の多かった仮想通貨 1位 $TRX 297 Tweets 2位 $BTC 226 Tweets 3位 $ETH 95 Tweets 4位 $XRP 43 Tweets 5位 $WAVES 38 Tweets 2019-04-12 19:00 ～ 2019-04-12 19:59 COINTREND いまTwitterで話題の仮想通貨を探せ！ https://cointrend.jp/  || A BIG step closer! #PCHAIN Pre-Mainnet will be launched in Mar. 15th. #PI #PAI #Blockchain #Crypto #Cryptocurrency #BTC #ETH https://t.co/9gZhOpKEUA || $1,500,000 worth of #Bitcoin bought at $4,937.21 00:22:23.814Z 2019/04/03 | http://bit.ly/BitMexCheapFees | "Wait for the bounce, then short the corn" || Name: Vertcoin Symbol: VTC Volume 24hr: 1,419,591.76671 Marketcap: 20,358,373.0024 Percent Change 1hr: -0.02 Price: $0.41971 USD URL: https://t.co/CTjN77XRzE #crypto #bitcoin #adk #aidoskuneen || Apr 07, 2019 15:03:00 UTC | 5,151.20$ | 4,585.90€ | 3,950.90£ | #Bitcoin #btc pic.twitter.com/u3IiZC9wsJ || #BitcoinMatin : Ce matin à 07:00, cours moyen du BTC : ↓3372.79 EUR et ↓3847.98 USD. http://bit.ly/2xWhGCU  || El precio del Bitcoin: 3,684.00€ #bitcoin #elpreciodelbtc #criptomonedas || 24H 2019/02/17 04:00 (2019/02/16 04:00) LONG : 35783.24 BTC (+1475.21 BTC) SHORT : 24096.65 BTC (+1792.74 BTC) LS比 : 59% vs 40% (60% vs 39%) || #Bitcoin $3,885.00 v #BitcoinCash $277.00 (BTC/BCH 14.0), Avg Transaction fee for #Bitcoin ~$0.39 v #BitcoinCash ~$0.00 - 2019/03/07 09:00JST || #Bitcoin $4,149.00 v #BitcoinCash $295.82 (BTC/BCH 14.0), Avg Transaction fee for #Bitcoin ~$0.48 v #BitcoinCash ~$0.00 - 2019/04/01 14:00JST
Trend: no change || Prices: 5251.94, 5298.39, 5303.81, 5337.89, 5314.53, 5399.37, 5572.36, 5464.87, 5210.52, 5279.35
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] Not fully available. [Random Sample of News (last 60 days)] How big banks are paying lip service to the blockchain: IBM has high hopes for blockchain technology. The IT giant announced on Tuesday a laundry list of plans to use blockchain tech and to help developers do the same. IBM ( IBM ) will offer tools through its cloud service for building blockchain apps, and it will open up IBM "Garages" in London, New York, Singapore and Tokyo for experts to collaborate with developers on blockchain tech. Taken in tandem with the recent flurry of banks and financial institutions expressing public interest in blockchain, the technology is having a moment. In September, a slew of banks including BBVA, Citi, Credit Suisse, JPMorgan, Royal Bank of Scotland, and UBS all joined a coalition, led by a firm called R3 , to implement blockchain technology in banking. In December, five more big names hopped on board, including BNP Paribas, ING, and Wells Fargo. But the great irony of the banks' interest in blockchain is that the idea of a blockchain for traditional banking defeats the purpose of the blockchain—at least as it has been used thus far, with the digital currency bitcoin. And top executives from some of the very same institutions that have signed on to R3 have separately disparaged bitcoin. To understand what it is that banks claim to want to do with blockchain, you first need to understand the bitcoin blockchain, which is a public, decentralized ledger that records every single bitcoin transaction. Think of it like a library card in the cloud (not the card you use to take out a book, but the slip inside a book that lists all the borrowers). If you send a friend $5 worth of bitcoin, the transaction goes on the blockchain. If one bitcoin startup acquires another bitcoin startup for $500,000 in bitcoin, that, too, goes on the blockchain. And you can view the blockchain in real time, as transactions are uploaded, at blockchain.info . Transactions are added in bundles, called "blocks," by "miners," who receive a tiny fee in bitcoin as an incentive to mine. Miners use large, expensive computers to find and mine the blocks. The excitement of the bitcoin blockchain, to people in the digital currency world, is the potential for decentralized applications to be built on top of it that cut out the middle man. And the blockchain can be used to store and send anything of value, so there are companies using it to store documents like property deeds and even marriage licenses. And now: Enter the banks. They've long stayed away from bitcoin, which has a toxic public image thanks to headlines about bitcoin being used in embezzlement and Ponzi schemes. (Think of Mt. Gox and Silk Road .) MasterCard CEO Ajay Banga said he believes bitcoin "starts bumping up against societal rules, which I worry about," and that, "it doesn’t give me the safety and security of knowing that I am who I am, and I’m paying who I know, which is what traditional currency does." And yet, MasterCard ( MA ) invested in Digital Currency Group, a venture firm that has itself invested in 65 different bitcoin and blockchain-enabled businesses. JPMorgan CEO Jamie Dimon said bitcoin "is going nowhere... There is nothing behind a bitcoin, and I think if it was big, the governments would stop it." And yet, JPMorgan ( JPM ) has signed on with R3. Story continues Forget bitcoin, embrace blockchain Bitcoin is doomed, if you ask Dimon. But the blockchain—now that's exciting. As Dimon said on CNBC last month, "The blockchain is a technology, which we’ve been studying... and yes, it’s real. If it proves to be cheap and secure it will be adopted for a whole bunch of stuff." Translation: Blockchain is hot, bitcoin is not. We are seeing this sentiment again and again. IBM, in its extensive press release this week about its blockchain efforts, does not use the word "bitcoin" once. Bitreserve, a cloud banking vault launched by CNET founder Halsey Minor and led by former Barclays CIO Anthony Watson , was so eager to shed the stink of bitcoin that it changed its name to Uphold. Blockchain "is so hot right now," writes Erik Voorhees , the CEO of bitcoin startup Shapeshift, while bitcoin "has been left by the wayside, ignored like an embarrassing relative at a family gathering.” (And yet the price of bitcoin is up 24% in the last six months, 85% in the last six.) What will using blockchain tech even look like for banks? R3's web site says its mission is "building and empowering the next generation of global financial services technology." That's pretty vague. David Rutter, CEO of R3 and a former executive at London-based electronic brokerage ICAP, has said R3 will help banks and financial firms use the "fabric" of blockchain technology. You might think that people in the bitcoin world are pleased to see big, incumbent financial institutions embracing the underlying technology behind the leading cryptocurrency. They are not. Most of them see the banks' stated interest as empty lip service so far. What most people believe the banks want to do is employ something like the blockchain in their record-keeping processes: record customer deposits and withdrawals on a blockchain as opposed to whatever (likely outdated) software they currently use. Sounds simple enough. But it would have to be a closed ledger, accessible only to customers of the banks. And therein lies the contradiction: the bitcoin blockchain is public and open-sourced; nothing about it is closed. "I can see why banks are interested in using permissioned ledgers, and maybe it will make their back office more efficient," says Jerry Brito, executive director of digital currency nonprofit Coin Center. "But at the end of the day, it's not a very exciting innovation. The real innovation is a completely open and global ledger that is permission-less. Having a closed, permissioned ledger run by banks, that might allow for better auditing, but there’s no innovation there, you still have to go through a consortium to use the ledger." That is, what banks seem to want to do is incongruous to the purpose of the blockchain. Digital Currency Group's Barry Silbert, who founded SecondMarket, which allowed for the trading of stocks in non-public companies, is similarly dubious of the "blockchain for banking" theme. "I’ve spoken quite publicly about my skepticism around the private blockchain approach," he tells Yahoo Finance. If R3 doesn't yield innovative fruit, then why are banks rushing to join up? For starters, as a PR effort: once a few were involved, the others looked stodgy by delaying. But Brito also believes the interest will subside once banks actually learn more about blockchain technology. " I think right now investors are kind of waiting for Wall Street to get through this blockchain phase," he says. "They have blockchain fever and they need to just get over it. Because if they develop their own closed blockchains, soon they’ll all realize they want to talk to each other, and they’ll be back to square one, doing banking." The bitcoin blockchain is open, global and permissionless. It has potential to serve as the backbone for additional exciting applications. If traditional banks want to employ it in their way, by acting as gatekeepers, it defeats the purpose. But don't expect that to dampen their public expressions of interest just yet. This is the first in a three-part Yahoo Finance series about blockchain technology. The second part is about how you can invest in the blockchain; the third part is about the biggest names in the industry. -- Daniel Roberts is a writer at Yahoo Finance, covering sports business and technology. Read more: Bitcoin advocacy group scores funding from biggest names in industry Bitcoin industry consolidates: Why Kraken bought Coinsetter Bitcoin's biggest investor bought its biggest news site Here's a sign that PayPal is embracing Bitcoin View comments || Canada's TSX hires Bitcoin guru, studies currency's technology: By Ethan Lou TORONTO (Reuters) - The Toronto Stock Exchange has hired a Bitcoin entrepreneur as its first chief digital officer as it explores the capabilities of blockchain, the technology behind the virtual currency, a senior executive at TSX parent TMX Group said on Thursday. Anthony Di Iorio, who has founded several companies based on the technology, filled the role at Canada's largest stock exchange in January, Jean Desgagne, chief executive of TMX's Global Enterprise Services, said in an interview. Stock exchanges are embracing blockchain, which allows Bitcoin users to conduct secure transactions without middlemen, as they seek to diversify and boost profit margins. When used to issue securities, the technology could potentially remove the need for clearing houses. "Blockchain is a disruptive technology," Desgagne said, noting that major changes could result from its potential adoption. "We're focused on it, we're going to learn." In January the Australian stock exchange said it had enlisted a blockchain startup to develop a new trade settlement system. Nasdaq in the United States used the technology last year to issue securities to an unidentified private investor. Last month, Nasdaq said it was developing a blockchain-based shareholder voting system for its Estonian stock exchange. Blockchain could make operations "better, faster, cheaper," Desgagne said, but noted that, if adopted, the technology would be only one element in TMX's digital operations. Di Iorio and Desgagne declined to discuss details about potential blockchain projects at TSX. Di Iorio is the founder of the Bitcoin Alliance of Canada and a co-founder of Ethereum, a blockchain-based computing platform. (Reporting by Ethan Lou; Editing by Euan Rocha and Richard Chang) View comments || Exclusive: Chinese hackers behind U.S. ransomware attacks - security firms: By Joseph Menn (Reuters) - Hackers using tactics and tools previously associated with Chinese government-supported computer network intrusions have joined the booming cyber crime industry of ransomware, four security firms that investigated attacks on U.S. companies said. Ransomware, which involves encrypting a target's computer files and then demanding payment to unlock them, has generally been considered the domain of run-of-the-mill cyber criminals. But executives of the security firms have seen a level of sophistication in at least a half dozen cases over the last three months akin to those used in state-sponsored attacks, including techniques to gain entry and move around the networks, as well as the software used to manage intrusions. “It is obviously a group of skilled of operators that have some amount of experience conducting intrusions,” said Phil Burdette, who heads an incident response team at Dell SecureWorks. Burdette said his team was called in on three cases in as many months where hackers spread ransomware after exploiting known vulnerabilities in application servers. From there, the hackers tricked more than 100 computers in each of the companies into installing the malicious programs. The victims included a transportation company and a technology firm that had 30 percent of its machines captured. Security firms Attack Research, InGuardians and G-C Partners, said they had separately investigated three other similar ransomware attacks since December. Although they cannot be positive, the companies concluded that all were the work of a known advanced threat group from China, Attack Research Chief Executive Val Smith told Reuters. The ransomware attacks have not previously been reported. None of the companies that were victims of the hackers agreed to be identified publicly. The security companies investigating the advanced ransomware intrusions have various theories about what is behind them, but they do not have proof and they have not come to any firm conclusions. Story continues Most of the theories flow from the possibility that the Chinese government has reduced its support for economic espionage, which it pledged to oppose in an agreement with the United States late last year. Some U.S. companies have reported a decline in Chinese hacking since the agreement. Smith said some government hackers or contractors could be out of work or with reduced work and looking to supplement their income via ransomware. It is also possible, Burdette said, that companies which had been penetrated for trade secrets or other reasons in the past were now being abandoned as China backs away, and that spies or their associates were taking as much as they could on the way out. In one of Dell’s cases, the means of access by the team spreading ransomware was established in 2013. The cyber security experts could not completely rule out more prosaic explanations, such as the possibility that ordinary criminals had improved their skills and bought tools previously used only by governments. Dell said that some of the malicious software had been associated by other security firms with a group dubbed Codoso, which has a record of years of attacks of interest to the Chinese government, including those on U.S. defense companies and sites that draw Chinese minorities. PAYMENT IN BITCOIN Ransomware has been around for years, spread by some of the same people that previously installed fake antivirus programs on home computers and badgered the victims into paying to remove imaginary threats. In the past two years, better encryption techniques have often made it impossible for victims to regain access to their files without cooperation from the hackers. Many ransomware payments are made in the virtual currency Bitcoin and remain secret, but institutions including a Los Angeles hospital have gone public about ransomware attacks. Ransomware operators generally set modest prices that many victims are willing to pay, and they usually do decrypt the files, which ensures that victims will post positively online about the transaction, making the next victims who research their predicament more willing to pay. Security software companies have warned that because the aggregate payoffs for ransomware gangs are increasing, more criminals will shift to it from credit card theft and other complicated scams. The involvement of more sophisticated hackers also promises to intensify the threat. InGuardians CEO Jimmy Alderson said one of the cases his company investigated appeared to have been launched with online credentials stolen six months earlier in a suspected espionage hack of the sort typically called an Advanced Persistent Threat, or APT. “The tactics of getting access to these networks are APT tactics, but instead of going further in to sit and listen stealthily, they are used for smash-and-grab,” Alderson said. (Reporting by Joseph Menn in San Francisco; editing by Jonathan Weber and Grant McCool) || Here's how you can invest in the blockchain: As big banks and other financial institutions continue tofeel the lovefor blockchain technology, many of our readers have wondered how they can get in. Can a private, non-institutional investor somehow invest in the blockchain? Answering the question requires a distinction between thebitcoinblockchain and the broader, non-bitcoin idea of blockchain technology. Think of the bitcoin blockchain as a public ledger in the cloud, not unlike a library book slip (see the above video for more). It shows every transaction made with the digital currency bitcoin; the transactions are added in bundles called "blocks," by "miners" who receive a small fee in bitcoin as incentive to add the data. (You canview that happeningin-real time.) The bitcoin blockchain is public, open-source and permissionless. What banks want to build is a private, closed blockchain,sansbitcoin,sansminers, to process their own transactions. The appeal is that it would make their systems faster and more efficient (most big banks are using old, outdated software for their record-keeping), as well as reduce friction and transfer delays. The bitcoin community is skeptical about the effort. "Having a closed, permissioned ledger run by banks might allow for better auditing, but there’s no innovation there," says Jerry Brito, executive director of the nonprofit Coin Center, whichhas raised fundingfrom the biggest names in bitcoin. "You still have to go through a consortium to use the ledger." Indeed, 45 banks, including heavy-hitters like Citi, Credit Suisse, and JPMorgan, have jumped on board with a consortium,called R3, to test out blockchain technology. JPMorgan, eager to come out to an early lead in the blockchain race,announced last monthit has been testing its own blockchain with 2,200 customers. In addition to banks trying to build their own blockchains, fintech startups likeitBitare offering their own non-bitcoin blockchains to financial customers.The blockchain product itBit offers is called Bankchain. "Bitcoin is a public, anonymous use case of blockchain technology," says itBit COO Andrew Chang. "Many financial institutions don't want to use the bitcoin blockchain because it’s an anonymous network and they're not okay with that." Whether the strategy will even bear fruit is unclear, but asAlex Kwiatkowski of financial software firm Misys says, "No one wants to be the one financial company that didn’t invest in blockchain.It feels like California in the Gold Rush -- those making an early claim think they’ll get the most gold. But it’s just an efficiency improvement.There’s going to be some value there, they just need to unlock what it is without promising too much." As banks and other big corporations continue to claim interest in blockchain, the idealogical divide between that side and the bitcoin side will only widen. Dan Conner, who is building a distributed ledger called DisLedger, aptly explains why: "If you’re a bitcoin fanboy and you’re a crypto-anarchist, that’s fine. But those people don’t tend to run in the same circles as banks." Conner predicts that even the term "blockchain" will go out of fashion for Wall Street the way "bitcoin" has, because there are inherent weaknesses in a blockchain. For now, clearly, the big banks are big believers in blockchain—or at least, they say they are. If you, a regular investor (and Yahoo Finance reader), are also a believer, is there a way to invest in blockchain technology? The short answer is: not directly. But there are three roundabout ways you could invest in the bitcoin blockchain or the broader, Wall Street concept of blockchain. If you believe in the strength of the bitcoin blockchain, the best way to invest is to buy bitcoin. Whether you want to do that for price-speculation purposes or simply out of curiosity to own a nascent asset class, there are myriad ways to obtain some easily, from exchanges like Coinbase, Circle, Bitstamp or Kraken, which hasexpanded in the U.S. recently through acquisitions. A second would be to buy stock in the banks that have joined up with R3, such asBBVA (BBVA), BNP Paribas (BNP.PA), Citi (C), Credit Suisse (CS), ING Group (ING), JPMorgan (JPM), Royal Bank of Scotland (RBS), UBS (UBS), and Wells Fargo (WFC). Of course, for bitcoin true believers, buying bank stocks would defeat the purpose of a cryptocurrency designed to avoid traditional banks. Or you could buy shares in the Bitcoin Investment Trust (GBTC), which passively holds bitcoin to track the price (it's similar to the GLD gold trust) and began trading publicly over the counter last year. The trust was launched by Barry Silbert of the Digital Currency Group, which has invested in 75 bitcoin and non-bitcoin blockchain startups, andrecently bought the news site CoinDesk. "We started the Trust," Silbert says, "as aneasy way for casual investors to get exposure to the price of bitcoin without having to figure out where do you buy it, what price do you pay, and how do you store it. This is one easy way to play in the bitcoin/blockchain industry." The trust is up 20% since it began trading last May. And bitcoin itself is up 81% in the same time period. This is the second in a three-part Yahoo Finance series about blockchain technology. Thefirst partwas about why big banks are expressing interest in the blockchain; thethird partis about the biggest names in the industry. -- Daniel Roberts is a writer at Yahoo Finance, covering sports business and technology.Read more: Bitcoin advocacy group scores funding from biggest names in industry Bitcoin industry consolidates: Why Kraken bought Coinsetter Bitcoin's biggest investor bought its biggest news site Here's a sign that PayPal is embracing Bitcoin || University of California notifies 80,000 of cyber attack: SAN FRANCISCO (Reuters) - Officials at the University of California Berkeley said on Friday that they were alerting 80,000 people, including current and former students, faculty and vendors of a cyber attack on a system that stores social security and bank account numbers. The news comes just more than a week after a Southern California hospital paid hackers $17,000 in the digital currency Bitcoin to regain control of their computer systems after a so-called "ransomware" attack. The San Francisco Bay Area university said there was no evidence that attackers actually took any personal information, but that it was still alerting the 80,000 individuals to be on the lookout for misuse of their information. The school said a hacker or hackers gained access to its financial management software in late December due to a security flaw present when the system is updating. Officials have notified law enforcement, including the FBI, and hired a private computer investigation company. The university said among the potentially affected are 57,000 current and former students; about 18,800 former and current employees; and 10,300 vendors who work with the school. Those figures come out to about half of the school's current students and two-thirds of its active employees. Large, high-profile organizations and businesses routinely come under cyber attack, and the school said it frequently identifies similar hacking attempts. "The security and privacy of the personal information provided to the university is of great importance to us," Paul Rivers, UC Berkeley's chief information security officer, said in a statement. "We regret that this occurred and have taken additional measures to better safeguard that information." The school said it was providing credit protection service free of charge to those potentially impacted. (Reporting by Curtis Skinner in San Francisco; Editing by Sharon Bernstein) || C&W and Friends Donate US$125,000 to Support Literacy and Youth Development: MIAMI, FL--(Marketwired - Mar 23, 2016) - The Advancement of Children Foundation (ACF) in St. Kitts received a significant donation of US$125,000 from funds raised through Cable & Wireless' Annual Charity Golf Event. ACF now joins other organizations including the SOS Children's Village in Jamaica, the Sunshine Achievement Center for under-privileged children in Barbados, the Rainbow Rescue team in Trinidad, orphanages in Dominican Republic and Puerto Rico, and the Wilhelmina Fonds Breast Cancer Center in Curacao, who have benefitted from the event. "Together with our partners, we are extremely pleased to support the Advancement of Children Foundation as this year's Tournament Charity," said John Reid, the President of C&W's Consumer Group, and the organizer of the event. "This donation is a continuation of a tradition that we started nine years ago in Trinidad and Tobago, where we combined our golf tournament with a social development and charity focus." According to Reid, C&W has always been committed to giving back to the countries in which they operate. "We engage in a variety of community development projects across the region to positively affect the communities we serve, and often our employees are front and centre with any CSR initiative. As part of this commitment, we leverage our strong partnerships to help strengthen our programs for social investments. It was a natural step for us to introduce a Golf charity event, where together with our technology, systems and programming partners, we developed another avenue for investing in the community." Naeemah Hazelle, Director of the ACF, stated that her team was very grateful for the support from C&W and Friends. "The significant donation will go a very long way in helping to implement initiatives that will change the lives of children and communities across both islands." ACF was founded eight years ago in response to island-wide gang violence, and is run by a voluntary board who help citizens develop and implement projects to improve the conditions and opportunities for young people. The Foundation supports five local projects per year. Story continues The donations from C&W and friends will be used to support these projects, as well as start an island-wide literacy program, called Caribbean Reads, in seventeen primary schools across the country. The program will include free books for children, a training component, and a dedicated library in each school. A second project will support a life skills centre, a safe space for interaction, counseling and life skills development for vulnerable groups. Reid thanked partners such as HBO-LA, Discovery, Ericsson, Huawei, Anixter and Elemental Technologies for their support in helping C&W carry out this important CSR work in the Caribbean. The tournament brought together over 40 companies that included content and technology partners from the US, Latin America, Canada, UK and the Caribbean. About Cable & Wireless Communications Plc Cable & Wireless Communications Plc (CWC) is a full service communications and entertainment provider, operating in Latin America and the Caribbean. With annual sales of over US$2.4 billion, it operates both mobile and fixed networks, supported by submarine and terrestrial optical fibre backhaul capacity. CWC delivers superior high-speed mobile data, broadband and video services. It has leading market positions in Mobile, Fixed Line, Broadband and Video 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 Group also operates a state-of-the-art subsea fibre optic cable network that spans more than 48,000 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 7,300 employees serving 6.4 million customers (Mobile 4.1m; Fixed Line 1.1m; Video 470k and Broadband 690k) across 42 countries. The Group'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 Plc's shares are quoted on the London Stock Exchange under the ticker CWC. The Group is headquartered in London with its operational hub located in Miami, within close proximity to the Caribbean and Latin America. For more information visit: www.cwc.com . Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=2982530 || Exclusive: Chinese hackers behind U.S. ransomware attacks - security firms: By Joseph Menn (Reuters) - Hackers using tactics and tools previously associated with Chinese government-supported computer network intrusions have joined the booming cyber crime industry of ransomware, four security firms that investigated attacks on U.S. companies said. Ransomware, which involves encrypting a target's computer files and then demanding payment to unlock them, has generally been considered the domain of run-of-the-mill cyber criminals. But executives of the security firms have seen a level of sophistication in at least a half dozen cases over the last three months akin to those used in state-sponsored attacks, including techniques to gain entry and move around the networks, as well as the software used to manage intrusions. "It is obviously a group of skilled of operators that have some amount of experience conducting intrusions," said Phil Burdette, who heads an incident response team at Dell SecureWorks. Burdette said his team was called in on three cases in as many months where hackers spread ransomware after exploiting known vulnerabilities in application servers. From there, the hackers tricked more than 100 computers in each of the companies into installing the malicious programs. The victims included a transportation company and a technology firm that had 30 percent of its machines captured. Security firms Attack Research, InGuardians and G-C Partners, said they had separately investigated three other similar ransomware attacks since December. Although they cannot be positive, the companies concluded that all were the work of a known advanced threat group from China, Attack Research Chief Executive Val Smith told Reuters. The ransomware attacks have not previously been reported. None of the companies that were victims of the hackers agreed to be identified publicly. Asked about the allegations, China's Foreign Ministry said on Tuesday that if they were made with a "serious attitude" and reliable proof, China would treat the matter seriously. But ministry spokesman Lu Kang said China did not have time to respond to what he called "rumors and speculation" about the country's online activities. The security companies investigating the advanced ransomware intrusions have various theories about what is behind them, but they do not have proof and they have not come to any firm conclusions. Most of the theories flow from the possibility that the Chinese government has reduced its support for economic espionage, which it pledged to oppose in an agreement with the United States late last year. Some U.S. companies have reported a decline in Chinese hacking since the agreement. Smith said some government hackers or contractors could be out of work or with reduced work and looking to supplement their income via ransomware. It is also possible, Burdette said, that companies which had been penetrated for trade secrets or other reasons in the past were now being abandoned as China backs away, and that spies or their associates were taking as much as they could on the way out. In one of Dell's cases, the means of access by the team spreading ransomware was established in 2013. The cyber security experts could not completely rule out more prosaic explanations, such as the possibility that ordinary criminals had improved their skills and bought tools previously used only by governments. Dell said that some of the malicious software had been associated by other security firms with a group dubbed Codoso, which has a record of years of attacks of interest to the Chinese government, including those on U.S. defense companies and sites that draw Chinese minorities. PAYMENT IN BITCOIN Ransomware has been around for years, spread by some of the same people that previously installed fake antivirus programs on home computers and badgered the victims into paying to remove imaginary threats. In the past two years, better encryption techniques have often made it impossible for victims to regain access to their files without cooperation from the hackers. Many ransomware payments are made in the virtual currency Bitcoin and remain secret, but institutions including a Los Angeles hospital have gone public about ransomware attacks. Ransomware operators generally set modest prices that many victims are willing to pay, and they usually do decrypt the files, which ensures that victims will post positively online about the transaction, making the next victims who research their predicament more willing to pay. Security software companies have warned that because the aggregate payoffs for ransomware gangs are increasing, more criminals will shift to it from credit card theft and other complicated scams. The involvement of more sophisticated hackers also promises to intensify the threat. InGuardians CEO Jimmy Alderson said one of the cases his company investigated appeared to have been launched with online credentials stolen six months earlier in a suspected espionage hack of the sort typically called an Advanced Persistent Threat, or APT. "The tactics of getting access to these networks are APT tactics, but instead of going further in to sit and listen stealthily, they are used for smash-and-grab," Alderson said. (Reporting by Joseph Menn in San Francisco; Additional reporting by Megha Rajagopalan in BEIJING; Editing by Jonathan Weber and Clarence Fernandez) View comments || Excitement Builds for Flow CARIFTA Games: ST. GEORGE'S, GRENADA--(Marketwired - Mar 24, 2016) - The excitement is steadily building in the Spice Isle, as the crème de la crème of junior track and field descends on Grenada for the highly anticipated 2016 Flow CARIFTA Games this weekend. Already, teams from Anguilla, Antigua, the Cayman Islands, Guyana, St. Lucia, Suriname, St. Vincent and the Grenadines, the US Virgin Islands, and Trinidad and Tobago have arrived in St. George's to compete in the 45 th edition of the Caribbean's premier athletics meet. "We know that a lot is expected of us, and as we showcase our Caribbean youth, we want to provide them with an experience that will encourage them to continue in sport. My heart is filled with joy to see that we have reached this point," said Veda Bruno-Victor, Chairperson of the Local Organising Committee. Flow, the region's leading telecommunications provider, has signed a three-year partnership with the North American, Central American and Caribbean Athletics Association (NACAC) to be the exclusive broadcast partner and title sponsor of the CARIFTA Games. It means that for the first time in the history of the CARIFTA Games, the event will be broadcast live in High Definition (HD) across the entire Caribbean. "I am also very grateful that Flow has become our title sponsor for the 2016 CARIFTA Games and for the following two Games to come. We want our young athletes to be seen and remembered, because if they are not in Rio, they will definitely be in Japan (2020 Olympic Games). We want our people to say 'I remember that boy or girl' and it is with great expectation that we look forward to the coming of the CARIFTA Games," added Bruno-Victor. Flow, which is also the region's exclusive broadcast partner for the upcoming Rio 2016 Olympic Games, has contracted an international production team that will capture, package and present more than twenty hours of live coverage from the River Road venue on the Flow Sports Channel (Channel 190 in Barbados). Story continues "This is a triumphant moment for Caribbean athletics and we very proud to be the exclusive broadcast partner and title sponsor of the 2016 Flow CARIFTA Games," said Denise Williams, Senior Vice President of Communications, Cable & Wireless Communications. "Since its launch last year, Flow Sports has already become one of the Caribbean's leading sports networks and our partnership with the CARIFTA Games builds upon Flow's other initiatives across the region. In addition to lending financial support, we are also very excited that our partnership with NACAC will allow us the opportunity to broadcast the Games across multiple platforms including our very own Flow Sports." The 2016 Flow CARIFTA Games will inaugurate Grenada's new National Stadium which was recently redeveloped following the passing of Hurricane Ivan in 2004. More than 650 athletes and officials will attend the Games from countries including Anguilla, Antigua and Barbuda, Aruba, Bahamas, Barbados, Bermuda, British Virgin Islands, Bonaire, Cayman Islands, Curacao, Dominica, French Guiana, Grenada, Guadeloupe, Guyana, Haiti, Jamaica, Martinique, Saint Kitts and Nevis, Saint Lucia, Saint Maarteen, Saint Vincent and the Grenadines, Suriname, Trinidad and Tobago, Turks and Caicos Islands, and the United States Virgin Islands. About Cable & Wireless Communications Plc Cable & Wireless Communications Plc (CWC) is a full service communications and entertainment provider, operating in Latin America and the Caribbean. With annual sales of over US$2.4 billion, it operates both mobile and fixed networks, supported by submarine and terrestrial optical fibre backhaul capacity. CWC delivers superior high-speed mobile data, broadband and video services. It has leading market positions in Mobile, Fixed Line, Broadband and Video 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 Group also operates a state-of-the-art subsea fibre optic cable network that spans more than 48,000 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 7,300 employees serving 6.4 million customers (Mobile 4.1m; Fixed Line 1.1m; Video 470k and Broadband 690k) across 42 countries. The Group'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 Plc's shares are quoted on the London Stock Exchange under the ticker CWC. The Group is headquartered in London with its operational hub located in Miami, within close proximity to the Caribbean and Latin America. For more information visit: www.cwc.com . Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=2983620 || Exclusive: Chinese hackers behind U.S. ransomware attacks - security firms: By Joseph Menn (Reuters) - Hackers using tactics and tools previously associated with Chinese government-supported computer network intrusions have joined the booming cyber crime industry of ransomware, four security firms that investigated attacks on U.S. companies said. Ransomware, which involves encrypting a target's computer files and then demanding payment to unlock them, has generally been considered the domain of run-of-the-mill cyber criminals. But executives of the security firms have seen a level of sophistication in at least a half dozen cases over the last three months akin to those used in state-sponsored attacks, including techniques to gain entry and move around the networks, as well as the software used to manage intrusions. “It is obviously a group of skilled of operators that have some amount of experience conducting intrusions,” said Phil Burdette, who heads an incident response team at Dell SecureWorks. Burdette said his team was called in on three cases in as many months where hackers spread ransomware after exploiting known vulnerabilities in application servers. From there, the hackers tricked more than 100 computers in each of the companies into installing the malicious programs. The victims included a transportation company and a technology firm that had 30 percent of its machines captured. Security firms Attack Research, InGuardians and G-C Partners, said they had separately investigated three other similar ransomware attacks since December. Although they cannot be positive, the companies concluded that all were the work of a known advanced threat group from China, Attack Research Chief Executive Val Smith told Reuters. The ransomware attacks have not previously been reported. None of the companies that were victims of the hackers agreed to be identified publicly. The security companies investigating the advanced ransomware intrusions have various theories about what is behind them, but they do not have proof and they have not come to any firm conclusions. Story continues Most of the theories flow from the possibility that the Chinese government has reduced its support for economic espionage, which it pledged to oppose in an agreement with the United States late last year. Some U.S. companies have reported a decline in Chinese hacking since the agreement. Smith said some government hackers or contractors could be out of work or with reduced work and looking to supplement their income via ransomware. It is also possible, Burdette said, that companies which had been penetrated for trade secrets or other reasons in the past were now being abandoned as China backs away, and that spies or their associates were taking as much as they could on the way out. In one of Dell’s cases, the means of access by the team spreading ransomware was established in 2013. The cyber security experts could not completely rule out more prosaic explanations, such as the possibility that ordinary criminals had improved their skills and bought tools previously used only by governments. Dell said that some of the malicious software had been associated by other security firms with a group dubbed Codoso, which has a record of years of attacks of interest to the Chinese government, including those on U.S. defense companies and sites that draw Chinese minorities. PAYMENT IN BITCOIN Ransomware has been around for years, spread by some of the same people that previously installed fake antivirus programs on home computers and badgered the victims into paying to remove imaginary threats. In the past two years, better encryption techniques have often made it impossible for victims to regain access to their files without cooperation from the hackers. Many ransomware payments are made in the virtual currency Bitcoin and remain secret, but institutions including a Los Angeles hospital have gone public about ransomware attacks. Ransomware operators generally set modest prices that many victims are willing to pay, and they usually do decrypt the files, which ensures that victims will post positively online about the transaction, making the next victims who research their predicament more willing to pay. Security software companies have warned that because the aggregate payoffs for ransomware gangs are increasing, more criminals will shift to it from credit card theft and other complicated scams. The involvement of more sophisticated hackers also promises to intensify the threat. InGuardians CEO Jimmy Alderson said one of the cases his company investigated appeared to have been launched with online credentials stolen six months earlier in a suspected espionage hack of the sort typically called an Advanced Persistent Threat, or APT. “The tactics of getting access to these networks are APT tactics, but instead of going further in to sit and listen stealthily, they are used for smash-and-grab,” Alderson said. (Reporting by Joseph Menn in San Francisco; editing by Jonathan Weber and Grant McCool) || The IT industry is launching new markets worth more than $2 trillion, IBM CEO says: IBM CEO Ginni Rometty (Business Insider) IBM CEO Ginni Rometty It's fashionable these days to beat up on IBM and its CEO, Ginni Rometty. It's easy to point to a struggling share price, shrinking revenues across just about all of its traditional core businesses, a downright addiction to share buy-backs to prop-up share price and earnings-per-share ($4.5 billion worth of buybacks last year alone, a $125 billion worth in the decade prior.) Plus there's the never-ending layoffs handled with an almost paranoid sense of secrecy . But an extremely cheerful Rometty opened the company annual investor's day on Thursday to explain, again, where's she's leading the company and offer update on the progress. "I've been looking forward to this day," she told them with a big smile. This is in sharp contrast to the grin-and-bear-it mood of last year's investor meeting, when Rometty had just failed to meet her predecessor's promise of hitting $20 earnings per share in 2015. She says IBM is on track to meet her promise to investors, made last year, of hitting $40 billion worth of revenue in a bunch of new and more profitable markets by 2018. These include big data/analytics, cloud computing, security, social and mobile. The company has already hit $29 billion in these "strategic imperative" areas, and they are now 36% of IBM's $82 billion of revenue, she said. These new markets, which IBM calls "decision support" represent a $2 trillion market. Plus IBM sees a bunch of other growth markets. 1. Machine learning (which IBM calls 'cognitive computing") is at the heart of the $2 trillion market IBM sees developing by 2025 . This is where smart computers that can learn, can understand all kinds of data (even audio, photos, videos), reason, talk, make decisions and learn. Companies will use this to make all of their important decisions she believes. And it will be used to solve other problems like managing and curing illness. Watson is already being used by medical device manufacturer Medtronic to help patients predict dangerous low-blood sugar events up to two hours before they occur. Story continues Decision support will create $2 trillion worth of IT spending beyond the $1 trillion companies already spend on software, services and hardware. IBM Decision Support market (IBM) IBM sees a $2 trillion "decision support" market beyond the traditional software, services and hardware market where it already competes. 2. Hybrid computing will become a $400 billion market. This is a revamp of the traditional $1 trillion market. It's where companies maintain their own data centers while also using the cloud. Rometty didn't offer a time frame when this market will be worth that much. Some market researchers say it will be an $88 billion market in 2019. But she insists that most companies will adopt this model forever and that it's "not a transition phase" on the way for companies to go "all-in" on the cloud and unplug their data centers. In other words, she believes that IBM will continue to sell its hardware and software to companies forever, in addition to selling its cloud services. IBM investor briefing, Ginni Rometty (Business Insider) IBM CEO Ginni Rometty That's in contrast to the message being told by happy Amazon cloud customers. Amazon, the cloud computing leader, doesn't sell hardware or software and has an increasing roster of huge customers that are unplugging their data centers completely to use Amazon's cloud exclusively. Rometty offers as proof that hybrid is the future: In 2015 IBM's consulting unit signed 70 contracts "greater than $100 million" and "7 out of 10 of them were about hybrid cloud," she says. 3. Internet of Things will be a $400 billion market by 2019 . That's where all kinds of objects get sensors, apps and join the internet. All of the apps that run all of those objects will live on somebody's cloud. Every big IT company is going after this market. Cisco has said that IoT will be much bigger, a $19 trillion market in a decade. 4. Blockchain will eventually be worth "hundreds of billions of opportunity," Rometty says. Blockchain is the tech that underlines the online currency called Bitcoin. But Rometty says that it's much bigger than Bitcoin. It's a technology that can secure all kinds of important data, financial and otherwise. She says that IBM is already using it internally and IBM has already introduced a blockchain cloud computing service. She's not alone in thinking Blockchain will be huge. VC Marc Andreessen has been touting it, and investing in it . And the nonprofit Linux Foundation has launched a consortium to develop blockchain. IBM is a member, as is a who's who roster of tech and financial services companies. NOW WATCH: We tried Shake Shack and In-N-Out side by side, and it's clear which one is better More From Business Insider This man grew his company from $30 million to $100 million in one year, mostly thanks to Amazon Bill Gates offered the best advice on how to not feel overwhelmed when taking on huge projects Sexism almost ended the career of one of the most powerful women in the Valley and her new startup is fighting back [Random Sample of Social Media Buzz (last 60 days)] Hey Setmine thanks for the follow! || Liquid Bitcoin || Why the Banks See Bitcoin as their Number One Enemy #bitcoin pic.twitter.com/eLx3XwAWJQ || Liquid Bitcoin || Liquid Bitcoin || In the last hour, 7 people won 0.32 BTC playing Bitcoin lottery at http://10xbtc.com , the easiest BTC lottery, 160BTC Jackpot || 4 in 1 #Trading Platform #OPR's Stocks #Euros #Gold and #iLcoins all on the #iLgamos system. FREE trial http://BuyGold.iLgamos.com  #Bitcoin || Liquid Bitcoin || Liquid Bitcoin || My robot has 265 hp left! 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Trend: up || Prices: 420.90, 421.44, 424.03, 423.41, 422.74, 420.35, 419.41, 421.56, 422.48, 425.19
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 2016-10-05] BTC Price: 612.51, BTC RSI: 57.15 Gold Price: 1265.20, Gold RSI: 28.04 Oil Price: 49.83, Oil RSI: 63.77 [Random Sample of News (last 60 days)] The NSA cyber-weapon auction is a total smokescreen — here's what's really going on: (Josh Mayeux, a network defender, works at the US Air Force Space Command Network Operations A group calling itself the "Shadow Brokers" claimed earlier this week that it hacked into the US National Security Agency and stole an apparent treasure trove of exploits and hacking toolsthat it is now trying to auction off. But experts say that this is all a smokescreen for a not-so-subtle message from Moscow to Washington: Don't mess with us. "It's a smokescreen, there's nothing real about this," John Schindler, a former NSA analyst and counterintelligence officer, told Business Insider. "This is Moscow's way of upping the ante in the spy war, and sending a message no one can miss [which is] 'we have you penetrated, we've got you by the balls, don't push us.'" He added: "The Russians are making a power play because they think they can right now." The previously-unknown Shadow Brokerscreated a number ofsocial-media accounts earlier this month on Reddit, Github, Twitter, and Imgur, before announcing on August 13 its "cyber weapon auction," which promised bidders a "full state sponsor tool set" from a hacking unit believed to be within the NSA known only as "The Equation Group." It released a 234-megabyte archive on various file-sharing sites with one-half being free to view and use — which numerous expertssay is legitimate— while the other half was encrypted. The winner of the auction, the group said, would get the decryption key. But an auction for hacking tools and exploits is not something that ever happens,experts say. Instead, exploits are bought and sold on the black market for hundreds of thousands and sometimes millions of dollars, in private. There's something else going on here, and it seems like it has nothing to do with a hacking group looking for cash. (Reuters) In the announcement of its auction, Shadow Brokers seemed to ensure that no one would seriously consider bidding on the other half of its treasure trove, which it claims has within it software that is better than "Stuxnet" — the US-Israeli malware that destroyed Iranian nuclear centrifuges. Its FAQ tells bidders that they are going to lose their Bitcoin, no matter what they do. If you win the auction, you'll get the files, but if you lose the auction, you don't get the files — and you don't get your Bitcoin back. "Sorry lose bidding war lose bitcoin and files," the group wrote. That's probably why the so-called auction hasn't moved anywhere close to the group's goal of 1 million Bitcoin, or roughly $575 million. The high bid iscurrently1.629 Bitcoin, a surprisingly low figure for a software package that, if it were "better than Stuxnet," would contain a number of unknown software exploits called "zero days," each of whichcan be soldfor $100,000 or more on the black market. "This auction is one of the more bizarre things that I've ever seen in this space. People who buy and sell exploits would not just dump money into an auction," a source who used to work for the NSA's elite hacker unit, Tailored Access Operations, told Business Insider on condition of anonymity in order to discuss sensitive matters. "It kind of makes no sense." "The low Bitcoin offers are pretty amusing though,"Dr. Peter Singer, a strategist at the think tank New America and coauthor of "Ghost Fleet," told Business Insider in an email. Further, the website WikiLeaks apparently has the full archiveand saysthat it will release its own "pristine copy in due course." WikiLeaks did not respond to an email from Business Insider asking when that release would be. This just "shows the fraud of the whole Bitcoin angle," Schindler said. (The Kremlin towers and St. Basil's Cathedral in Moscow.Thomson Reuters) Former NSA contractor Edward Snowden offered his opinion on the underlying message behind the "auction" in a series of tweets on Tuesday,notably pointingthe finger at Russia as being behind it. After cybersecurity firm CrowdStrike said that it uncovered two different state-sponsored Russian hacking groups inside the servers ofthe Democratic National Committee in June, Snowden wrote that "if Russia hacked the DNC, they should be condemned for it," and then chided the US for not releasing evidence that he believed the NSA had that would prove it. That "smoking gun" evidence never came, though a number of US political and intelligence officialshave saidthat the DNC hack was at the Kremlin's direction. "Circumstantial evidence and conventional wisdom indicates Russian responsibility,"wroteSnowden of this latest breach, adding, "This leak looks like somebody sending a message that an escalation in the attribution game could get messy fast." How messy? According to Snowden, the fully-leaked toolkit — from 2013 — could offer insight into previous hacks carried out by the NSA, or it could bereverse-engineeredto help adversaries detect them in the future. Even Schindler, the former NSA analyst who's an outspoken critic of Snowden, agrees with Snowden's finding on the overt message, though he doesn't think that leaked tools will have any significant effect on future NSA operations. "This stuff has all been changed," Schindler said. "Three years is a long time in cyber ops, because that's not the point. The point is to show NSA that we've got you by the balls." NOW WATCH:FORMER NSA DIRECTOR: America is ‘really good’ at stealing data from other countries More From Business Insider • Experts think Russia has leaked NSA cyberweapons online • Here's why the supposed NSA 'hack' is unlike anything we've ever seen before • EDWARD SNOWDEN: Russia might have leaked alleged NSA cyberweapons as a 'warning' || Citigroup hits another Costco hurdle: Credit Card Sales (BII) This story was delivered to BI Intelligence " Payments Briefing " subscribers. To learn more and subscribe, please click here . Citigroup is still experiencing hurdles after purchasing the roughly 11 million cardholder Costco portfolio from American Express earlier this summer. Last week, the firm mistakenly emailed a “small portion” of Costco members telling them that their membership had ended and their cards would be canceled, according to Business Insider . Citigroup has since notified the affected consumers that the message occurred as a result of a “systematic error.” The error marks another in a series of problems that Citigroup has faced managing the transition. In the week following the transition, the company fielded multiple complaints from consumers who hadn’t received new cards or were struggling to activate them and couldn’t get the necessary support. Despite that, the portfolio has been performing well, giving Citi $5.7 billion in purchases made on Citi Costco cards in its first three-and-a-half weeks. But ongoing errors could begin to turn off consumers and increase cardholder attrition, particularly since Costco now accepts any Visa card, not just the Citigroup-branded Costco card. That would limit the potential financial impact of the portfolio, which could give Citi over $80 billion in annual billed business and help it further establish separation as the third largest US card issuer this year. Citigroup is just one piece of the larger payments ecosystem, which contains card issuers, processors, merchants, gateways, and more. Evan Bakker and John Heggestuen, analysts at BI Intelligence , Business Insider's premium research service, have compiled a detailed report on the payments ecosystem that drills 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. Story continues 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. 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. To get your copy of this invaluable guide, choose one of these options: Subscribe to an ALL-ACCESS Membership with BI Intelligence and gain immediate access to this report AND over 100 other expertly researched deep-dive reports, subscriptions to all of our daily newsletters, and much more. >> START A MEMBERSHIP Purchase the report and download it immediately from our research store. >> BUY THE REPORT The choice is yours. But however you decide to acquire this report, you’ve given yourself a powerful advantage in your understanding of the payments ecosystem. More From Business Insider THE PAYMENTS INDUSTRY EXPLAINED: The Trends Creating New Winners And Losers In The Card-Processing Ecosystem THE CONNECTED DEVICE PAYMENTS REPORT: Market opportunities, top stakeholders, and new use cases for the next frontier in payments The top 5 fintech predictions for 2016 || Traders strategize ahead of Bank of Japan, Fed meetings: The " Fast Money " traders debated how investors should position their portfolios ahead of two major central bank meetings. Trader Brian Kelly said that there is a real chance the Bank of Japan and Federal Reserve will disrupt the recent rally. He said that if the BOJ announces a "massive stimulus program ... the dollar (Intercontinental Exchange US: .DXY) is going to rip." Kelly said, however, if the BOJ does nothing, there will be "a lot of problems all over the place because they need something." Kelly said that he would be long the dollar ahead of the Fed's meeting. He said "the odds of the dollar going lower are very slim at this point in time." Trader Tim Seymour said the BOJ meeting may be more important than the Fed's because it's unlikely the U.S. central bank will announce any major policy changes this week. He said that the real risk is if the BOJ doesn't provide as much stimulus as economists expect, which would cause the yen (Exchange:JPY=) to surge against the dollar. Trader David Seaburg said investors can find opportunities by looking for dislocation. He said that the financials (NYSE Arca: XLF) might sell off and he would be looking to buy the companies he likes the most in that sector if that happens. Seymour said he also likes the financials, which are "historically cheap." Disclosures: BRIAN KELLY Brian Kelly is long Bitcoin, CME, DXJ, GDX, KBE, SLV, TLT, VXX, XLF, XOP, US Dollar UUP. He is short the euro and Japanese yen. DAN NATHAN Dan Nathan is long TWTR, long PYPL call calendar, long FEZ Nov put spread, long EEM Nov put spread, long XHB Jan put spread, long XLK Jan put spread, XLU Dec call spread TIM SEYMOUR Tim Seymour is long APC, AVP, BAC, BBRY, CLF, 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. 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, X, YHOO, short HYG, IWM, UAL. Story continues 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. Diamond Offshore: an employee of Cowen and Company, LLC serves on the Board of Directors of Diamond Offshore. EXPE, HZNP, VA – Not Approved. || Exchanges Propose New Unified Trading Rules: The country’s three major exchanges announced today they have agreed to work together for new common trading procedures when reopening after a trading halt. Bats Global Markets, owner of ETF.com, the New York Stock Exchange and Nasdaq said they will be filing a new set of exchange rules with the SEC that propose to unify how all three resume trading when a halt occurs with ETFs and stocks. This comes nearly a year after more than 1,000 ETFs and stocks were halted on Aug. 24, 2015, causing dozens ofETFs to be traded well below fair value. Currently the exchanges do not have the same procedures to resume trading after such a halt, which fueled the market swings and price dislocation on that day. Beyond the unified reopening procedures, the exchanges also propose to eliminate the time periods where securities could trade without the limit up/limit down (circuit breaker) bands in place, reduce the number of trading pauses, and remove the “Clearly Erroneous Execution” rules when the limit up/limit down bands are in place. Getting Ahead Of Regulators “Last year’s flash crash wasn’t necessarily ‘caused’by chaos between the exchanges, but it certainly was exacerbated by it,” said Dave Nadig, director of exchange-traded funds at FactSet and ETF trading expert. “It’s to the exchanges’ credit that in many ways they’re getting ahead of the regulators and trying to coordinate their disparate rule sets to minimize the chances of the same thing happening again. The work they’re doing about initial opening, limit up/limit down triggering and reopening is exactly what needs to happen.” Nadig added that while the details are just coming out, the proactive nature of the exchanges in making these proposals is admirable. “The devil can sometimes be in the details, so we’ll see the final suggestions in a few weeks, but overall, I’m enormously impressed at the way these competitors have pulled together to improve the system,” he added. Industry Call To Action In March In March, leaders of the ETF industry joined a group in writing a letter to the SEC (Why This ‘Open Letter’ To SEC Matters) petitioning for overhauls to the market microstructure to prevent further flash crashes in ETFs and stocks. At the heart of the matter on Aug. 24, 2015 were the inconsistencies between how different exchanges handled big swings in securities (the limit up/limit down circuit breakers) and how securities were reopened after those breakers were hit. The problem spoke to the fragmentation of exchanges and the difference in how each exchange resumed trading, resulting in price discovery problems. Today’s announcement aims to address those problems. Drew Voros can be reached [email protected]. Recommended Stories • Behind The Wait For The Winklevoss Bitcoin ETF • The ETF As A Political Weapon • Aug. 24, 2015 Flash Crash Part Of Wall St. History • What The New Real Estate Sector Means For ETFs • ETF Asset Growth In 2016 Par For The Course Permalink| © Copyright 2016ETF.com.All rights reserved || Group claims to have hacked the NSA, wants $500 million to release files: A group of hackers going by the name "The Shadow Brokers" claims to have penetrated an NSA-backed hacking operation , and has leaked a bunch of hacking tools it claims is from the NSA. But that's not all: the Shadow Brokers claim to have much more data, and are currently hosting a Bitcoin auction to sell it off to the highest bidder. The hackers claim to have penetrated something called the "Equation Group," a hacking organization widely believe to be the NSA. A sampling of the stolen files already posted shows similarity between the files and information revealed about the NSA's hacking operations in the Snowden leaks. DON'T MISS: Apple just released iOS 10 beta 6 for the iPhone and iPad The files mostly appear to be hacking tools and scripts, although it's unclear how much the hackers made off with. Their announcement on Pastebin specifically keeps the details of the stolen files a secret, since "Equation Group not know what lost. We want Equation Group to bid so we keep secret." The big question is obviously whether the data is legit. The overt grab for money means this could just be a fake; post a bunch of promising-looking files and screenshots, and then hold an anonymous Bitcoin auction for the rest. The NSA makes sense as a target here, as there's minimal information known about the Equation Group already, and the NSA is unlikely to comment too publicly on the hack. If it proves to be true, this would be one of the highest-profile and most serious hacks in years. Otherwise, it's just a neat fake, and a very bold plan to make quick cash. Trending right now: iPhone 8 concept shows the major design overhaul everyone wanted on the iPhone 7 New photos and video show iPhone 7 Plus in the color we’ve all been waiting for: Space Black The ultimate Pokemon Go hack that lets you walk anywhere just got even better See the original version of this article on BGR.com || 'Grumpy hold-outs' could sink Bitfinex recovery plan after Bitcoin theft: By Clare Baldwin HONG KONG (Reuters) - Crypto-currency exchange Bitfinex's plan to impose losses on all its trading clients for the theft by hackers of $72 million in Bitcoin rests on two flawed pillars, according to lawyers. The Hong Kong-based exchange said on Aug. 2 that hackers had stolen 119,756 bitcoins from some clients' accounts, the second-biggest such hack in dollar terms, and later said it would spread the losses across all its customers, whether or not they had been hacked or even held bitcoin. It said customers would forfeit 36 percent of their holdings and be given "BFX tokens" instead that could be redeemed by the exchange or converted to shares in its parent company iFinex. Both elements of the plan are open to legal challenge, lawyers said. Imposing losses on customers who were not hacked appears to go against the company's terms of service, said Ryan Straus, a Fenwick & West lawyer who advises financial technology companies on regulation and co-authored the U.S. chapter of a book on bitcoin law. The terms state "bitcoins in your multi-signature wallets belong to and are owned by you", which Straus said implied a special banking relationship with clients that the Bitfinex plan would breach. "The depository ... is obligated to return, on demand, the same monetary objects deposited," he said, quoting a line from his book. The exchange's tokens could also be problematic, said Zach Zweihorn, a lawyer at DavisPolk who specializes in U.S. securities and trading laws. The way they are currently being described - redeemable by the exchange or convertible to shares in iFinex - places them somewhere between a bond and a security and makes it highly likely that issuing them and trading them would require licenses in the U.S. that Bitfinex doesn't have. "If they are issuing an equity interest in their parent company, I don't really think the fact that it's evidenced through an electronic token ... really changes the analysis of whether it's a security," said Zweihorn. Story continues The U.S. Securities and Exchange Commission did not return a request for comment. Bitfinex did not respond to requests for comment on either issue. "ROBBED" Bitfinex's website acknowledges there are "protocol level details" still to be worked out for the tokens, and that U.S. residents can sell but not buy them for the time being. "I feel like I was robbed," a 33 year-old investor who had a five-figure U.S. dollar amount on the platform told Reuters. He said he took a 36 percent "haircut" across all assets, including U.S. dollar reserves, and as a U.S. trader he couldn't properly deal in the IOU token. "Basically they took customers' funds in order to try to stay afloat. Nowhere in their terms of service did it mention that this was a possibility," said the user, who works in the financial services industry. Bitfinex is nevertheless hoping that traders will be patient and accept that they won't get a better deal if legal challenges force it into liquidation. "This is the closest approximation to what would happen in a liquidation context," it told traders in a blog post a week ago, while the tokens gave them some hope of ultimately recovering their losses. Traders will be aware of the fate of Tokyo-based crypto-currency exchange Mt Gox, which suffered the biggest bitcoin theft of all time in 2014, and consequently went bankrupt. Traders have not recovered any losses, and court proceedings are still ongoing. "People are afraid to see their assets completely frozen if they sue Bitfinex too early," said 28-year-old Nathan Bourgeois, who is based in France and moderates a 2,000-member traders' messaging group called Whaleclub under the username dr Helmut. He said he thought people would agree to the deal if there was a chance of getting some of their money back. But Patrick Murck, a fellow at Harvard University's Berkman Klein Center for Internet & Society, said the Bitfinex plan was unlikely to survive a legal challenge. "It might be a pyrrhic victory. You might still end up with less money," said Murck, who is also co-founder of the Bitcoin Foundation and its former general counsel, but the "odds are fairly low" that nobody will test it in court. "It takes one grumpy hold-out ... to blow the whole thing up,” he said. (Reporting by Clare Baldwin; Additional reporting by Hera Poon and Tris Pan; Editing by Will Waterman) || 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) || 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. 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) || 'Grumpy hold-outs' could sink Bitfinex recovery plan after Bitcoin theft: By Clare Baldwin HONG KONG (Reuters) - Crypto-currency exchange Bitfinex's plan to impose losses on all its trading clients for the theft by hackers of $72 million in Bitcoin rests on two flawed pillars, according to lawyers. The Hong Kong-based exchange said on August 2 that hackers had stolen 119,756 bitcoins from some clients' accounts, the second-biggest such hack in dollar terms, and later said it would spread the losses across all its customers, whether or not they had been hacked or even held bitcoin. It said customers would forfeit 36 percent of their holdings and be given "BFX tokens" instead that could be redeemed by the exchange or converted to shares in its parent company iFinex. Both elements of the plan are open to legal challenge, lawyers said. Imposing losses on customers who were not hacked appears to go against the company's terms of service, said Ryan Straus, a Fenwick & West lawyer who advises financial technology companies on regulation and co-authored the U.S. chapter of a book on bitcoin law. The terms state "bitcoins in your multi-signature wallets belong to and are owned by you", which Straus said implied a special banking relationship with clients that the Bitfinex plan would breach. "The depository ... is obligated to return, on demand, the same monetary objects deposited," he said, quoting a line from his book. The exchange's tokens could also be problematic, said Zach Zweihorn, a lawyer at DavisPolk who specialises in U.S. securities and trading laws. The way they are currently being described - redeemable by the exchange or convertible to shares in iFinex - places them somewhere between a bond and a security and makes it highly likely that issuing them and trading them would require licences in the U.S. that Bitfinex doesn't have. "If they are issuing an equity interest in their parent company, I don't really think the fact that it's evidenced through an electronic token ... really changes the analysis of whether it's a security," said Zweihorn. Story continues The U.S. Securities and Exchange Commission did not return a request for comment. Bitfinex did not respond to requests for comment on either issue. "ROBBED" Bitfinex's website acknowledges there are "protocol level details" still to be worked out for the tokens, and that U.S. residents can sell but not buy them for the time being. "I feel like I was robbed," a 33 year-old investor who had a five-figure U.S. dollar amount on the platform told Reuters. He said he took a 36 percent "haircut" across all assets, including U.S. dollar reserves, and as a U.S. trader he couldn't properly deal in the IOU token. "Basically they took customers' funds in order to try to stay afloat. Nowhere in their terms of service did it mention that this was a possibility," said the user, who works in the financial services industry. Bitfinex is nevertheless hoping that traders will be patient and accept that they won't get a better deal if legal challenges force it into liquidation. "This is the closest approximation to what would happen in a liquidation context," it told traders in a blog post a week ago, while the tokens gave them some hope of ultimately recovering their losses. Traders will be aware of the fate of Tokyo-based crypto-currency exchange Mt Gox, which suffered the biggest bitcoin theft of all time in 2014, and consequently went bankrupt. Traders have not recovered any losses, and court proceedings are still ongoing. "People are afraid to see their assets completely frozen if they sue Bitfinex too early," said 28-year-old Nathan Bourgeois, who is based in France and moderates a 2,000-member traders' messaging group called Whaleclub under the username dr Helmut. He said he thought people would agree to the deal if there was a chance of getting some of their money back. But Patrick Murck, a fellow at Harvard University's Berkman Klein Center for Internet & Society, said the Bitfinex plan was unlikely to survive a legal challenge. "It might be a pyrrhic victory. You might still end up with less money," said Murck, who is also co-founder of the Bitcoin Foundation and its former general counsel, but the "odds are fairly low" that nobody will test it in court. "It takes one grumpy hold-out ... to blow the whole thing up,” he said. (Reporting by Clare Baldwin; Additional reporting by Hera Poon and Tris Pan; Editing by Will Waterman) || Fully understand the Fintech Ecosystem with this report: bii top challenges for the fintech industry (BI Intelligence) 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, Business Insider Intelligence 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: Story continues 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. BII The Fintech Ecosystem (BI Intelligence) Evan Bakker of BI Intelligence , Business Insider's premium research service, has written a new report entitled The Fintech Ecosystem Report : Measuring the effects of technology on the entire financial services industry . The big picture insights you’ll get from this new report include: 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 industry is how you get the full story on the fintech revolution. To get your copy of this invaluable guide to the fintech revolution, 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 The choice is yours. But however you decide to acquire this report, you’ve given yourself a powerful advantage in your understanding of the fast-moving world of financial technology. More From Business Insider Russian diver scores 0.0 on one of the worst dives in Olympic history 'I think it is a terrible mistake': Ex-Sears executive says Walmart just wasted $3 billion on Jet.com Donald Trump sidesteps Hillary Clinton, says he's running against 'the crooked media' [Random Sample of Social Media Buzz (last 60 days)] 1 BTC Price: BTC-e 565.413 USD Bitstamp 569.00 USD Coinbase 569.99 USD #btc #bitcoin 2016-08-15 22:30 pic.twitter.com/g5vIjS4smW || #AudioCoin #ADC $0.000195 (-3.00%) 0.00000032 BTC (-2.92%) || #bitcoin #miner RARE Antminer S7 Batch 7 5.06 TH $450.00 http://ift.tt/2bmx5F4 pic.twitter.com/yj7yNEXEzS || #TrollCoin #TROLL $0.000024 (0.46%) 0.00000004 BTC (-0.00%) || .@tododespacho Repuestos #CHERY WhatsApp: 04262408251 #Bitcoin #TODODESPACHO #asitelovendenpic.twitter.com/VUVBQjkdcp || 1 KOBO = 0.00000799 BTC = 0.0047 USD = 1.5017 NGN = 0.0631 ZAR = 0.4771 KES #Kobocoin 2016-08-09 20:00 pic.twitter.com/oQPVxwDWBo || 1 KOBO = 0.00000300 BTC = 0.0017 USD = 0.5185 NGN = 0.0248 ZAR = 0.1720 KES #Kobocoin 2016-09-02 02:00 pic.twitter.com/EjqfWiSNfw || $593.11 at 16:45 UTC [24h Range: $592.10 - $608.00 Volume: 3941 BTC] || 1 #bitcoin = $11860.00 MXN | $611.96 USD #BitAPeso 1 USD = 19.38MXN http://www.bitapeso.com  || 1 #BTC (#Bitcoin) quotes: $584.00/$584.85 #Bitstamp $583.11/$583.70 #BTCe ⇢$-1.74/$-0.30 $584.37/$590.53 #Coinbase ⇢$-0.48/$6.53
Trend: up || Prices: 613.02, 617.12, 619.11, 616.75, 618.99, 641.07, 636.19, 636.79, 640.38, 638.65
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 2017-10-04] BTC Price: 4229.36, BTC RSI: 54.27 Gold Price: 1273.70, Gold RSI: 37.64 Oil Price: 49.98, Oil RSI: 50.72 [Random Sample of News (last 60 days)] Bitcoin boom: Cryptocurrency marks new record above $4K, boosted by Japan and safe-haven buying: The digital currency bitcoin vaulted to a new record high above $4000 on Saturday, boosted by strong Japanese demand on its way to multiplying its value fourfold this year. Bitcoin hit an all-time high of$4,225.40 early Sunday before slightly paring those gains to trade near $4,000, according toCoinDesk. The digital currency has now quadrupled in 2017, and is up about 40 percent in August alone. Bitcoin's market value is now around $64 billion, up about $10 billion in the last week. Bitcoin trade in Japanese yen accounted for nearly 46 percent of global trade volume, up from about a third a day ago, according to CryptoCompare. US-dollar bitcoin trade accounted for about 25 percent, according to CryptoCompare. Bitcoin trade in Chinese yuan and South Korean won accounted for about 12 percent each. The surge picked up speed in the last week, mirroring gold's climb amid a global selloff in stocks and bonds . Rising worries about North Korea's nuclear threat have sent investors flocking to perceived safe-havens and alternative assets. "Bitcoin is benefitting from geopolitical tensions - trading in Japan and Korea has increased significantly over the last few months," Brian Kelly, a CNBC contributor and head of BKCM, which runs an digital asset strategy, said in an email. He also attributed price gains to investors buying back bitcoin after the Aug. 1 split and greater attention from the Russian government. Analysts have also noted increased investor interest, especially from institutional investors, after bitcoin successfully survived an Aug. 1 split into bitcoin and bitcoin cash. This week, Fidelity launched a feature allowing customers to also view their Coinbase bitcoin holdings. The currency also got a boost from Goldman Sachs, which in a report released this week said it is harder for institutional investors to ignore cryptocurrencies like bitcoin. That said, bitcoin's future is still uncertain. The digital currency could potentially split again in November, when the second phase of an upgrade proposal called Segregated Witness is implemented. Story continues Chris Burniske, author of the upcoming book, "Cryptoassets: The Innovative Investor's Guide to Bitcoin and Beyond," also noted a sharp pullback in price would not be surprising, given bitcoin's rapid surge. He noted on Twitter that upticks in the bitcoin price and Google searches have historically led to price corrections. Burniske tweet Bitcoin's offshoot, bitcoin cash, traded little changed near $323, according to CoinMarketCap. Another digital currency, ethereum, traded nearly 5 percent higher near $315. WATCH: Here's what sets Ethereum apart from its rival Bitcoin More From CNBC Snap shares bounce more than 7% — even though some high-profile investors are bailing Early movers: TSLA, PG, FCAU, VFC, BLK & more Dow soars 150 points as Wall Street sees North Korea tensions easing || Market Snapshot – Bitcoin Prices Plunge on Renewed Chinese Fears: Bitcoin Prices Fall on Comments and Chinese Fears Bitcoin prices continued their fall on renewed worries about their fate in China. They fell last week as the Chinese regulators banned ICOs and also asked the people to refrain from investing in ICOs and since then, the prices have been in a freefall. The investors and traders do not know what to expect next from them and with the Chinese being the largest investors in bitcoin and ICOs, it is indeed a time for a lot of risk and uncertainty in this market. Today, the JPMorgan CEO said that bitcoin was a fraud and the prices were just waiting to fall. Also, we had news that one of the Chinese exchanges, bitkan, would be stopped OTC trading from Thursday. These events spooked the markets and we saw the bitcoin prices fall below $4000 and they continued to look weak. Dollar Recovers Across the Board In the other part of the market, the dollar seems to be recovering on some decent PPI data and we are now seeing the correction in the dollar based pairs assuming large proportions. The pound got hit by weak earnings data and this,along with the strength in the dollar, is weighing on the GBPUSD pair which has crashed below 1.33 and looking 1.32 for today. The stock markets in Europe continued to trade in a steady manner and this has led to pressure on the prices of gold which, after a brief rally, now trade in the 1320 region as of this writing. This article was originally posted on FX Empire More From FXEMPIRE: The Crypto Future of Currencies Market Snapshot – Bitcoin Prices Plunge on Renewed Chinese Fears Will U.S. Inflation Prove Stronger Than Expected? Soft Earnings Data Weighed on Sterling Global Equities Higher as Speculation Builds, Pound Hits one-year High The Asian Relief Rally and the USD Soften, with UK Employment Data Keeping the Pound in the Spotlight || Bitcoin eases after hitting all-time high, Bitcoin Cash rises: Investing.com - The price of the digital currency bitcoin slid lower on Wednesday, but remained within striking distance of the fresh all time high above the $4,600 level set in the previous session. On the U.S.-based Bitfinex exchange, Bitcoin touched a low of $4,481.10 and was at $4,535.2 by 07:45 AM ET (11:45 GMT) having opened at $4,586.60. Prices hit an all-time high of $4,644.20 on Monday before closing at $4,587.10. The digital currency has quadrupled in value this year and at current prices bitcoin has a market cap of about $74 billion. Earlier this month, Sheba Jafari the head of technical strategy at Goldman Sachs predicted that the price of bitcoin might soar as high as $4,800. But she also warned that a price increase could precede a market correction, which would push prices back down to below $3,000. Jafari said bitcoin could correct down as far as $2,221, a level the market has not seen since a downtrend in mid-July. Meanwhile, the price of the new bitcoin offshoot, Bitcoin Cash was higher. It touched a high of $610.05 and was last at $569.05, having opened at $548.04. It rose to a high of $935.50 on August 19, the strongest level since the split or so-called ‘hard fork’ on August 1 when the blockchain supporting bitcoin split into two, creating bitcoin cash. At current prices, bitcoin cash has a total market capitalization of around $9.4 billion, making it the third most valuable cryptocurrency. Elsewhere in cryptocurrency trading, Ethereum, the second biggest cryptocurrency by market cap after bitcoin, was up 0.5% to $374.8. To stay on top of the latest moves in the crypto-space, be sure to check out:https://www.investing.com/crypto/ Related Articles Forex - Dollar holds onto gains with U.S. data on tap Dollar recovers from four-month low vs. yen as North Korea fears ease Forex - Dollar rebounds from lows as risk aversion recedes || IBM: How Bitcoin Could Make Big Blue a Big Buy: International Business Machines Corp.(NYSE:IBM) could be one of the biggest beneficiaries of Bitcoin, especially when confusion reigns on the cryptocurrency. The rise of bitcoin is no surprise to any investor who’s opened a newspaper this year. But there’s a stunning lack of understanding surrounding bitcoin, what it’s built on and how that architecture impacts companies like IBM. First, did you know that Americans aren’t even sure about bitcoin’s legality? “Close to 11% think” it’s illegal, while another 48%aren’t sure if it’s legalor not. That right there holds back the cryptocurrency and shows just how uneducated the public is about it. That’s not necessarily a knock against the American public. But imagine how muchTesla Inc(NASDAQ:TSLA) orApple Inc(NASDAQ:AAPL) stocks would struggle if half the country wasn’t sure whether it was illegal to own them. Source: Shutterstock That means even less people know about what bitcoin is built on, that being blockchain. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Originally, blockchain was built for cryptocurrencies like bitcoin to exist. But since then, users have found other meaningful ways to use the platform.In some eyes, “blockchain technology created the backbone of a new type of internet.” A rather bold statement, for sure. But it highlights just how important it can be. Bitcoin isn’t blockchain’s only application; nor are cryptocurrencies. In fact, it allows for safe, secure transactions and transfers of all different sorts. So whileJPMorgan Chase & Co.(NYSE:JPM) CEO Jamie Dimon may be busyslamming bitcoin as a fraud, his firm is surely working on ways to embrace blockchain. • 7 ‘Strong Buy’ Stocks Wall Street Is 100% Sure Of It’s not just JPM. All banks, be itBank of America Corp(NYSE:BAC),Wells Fargo & Co(NYSE:WFC) orGoldman Sachs Group Inc(NYSE:GS), stand to benefit. Blockchain is safer, faster and more secure. Why wouldn’t we embrace it? I strongly suggest reading this article,right here. It’s not that long, but it has plenty of insightful information. Some like this: “The Internet is great for collaboration and information exchange but when it comes to transactions and commerce it has some deep flaws…As such [blockchain] holds the potential for unleashing countless new applications…and has yet unrealized capabilities that have the potential to transform everything in the next 25 years.” “[The blockchain] is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value and importance to humankind…We will not need to trust each other in the traditional sense, because the new platform ensures integrity.” In a way, we’re looking at an internet rebirth. An emerging technology that, like artificial intelligence, we’re not completely sure about its potential or endgame. And that’s okay. But if an investor believes in its potential, it all comes down to one question: How can I get involved? IBM has not made headlines for the right reasons this year. Revenue has decreased on a year-over-year basis for 21 consecutive quarters. Famed investor Warren Buffett, who runsBerkshire Hathaway Inc.(NYSE:BRK.A, NYSE:BRK.B), hasslashed his stakefrom 81 million shares to 54 million shares in the first two quarters of 2017. Ginni Rometty became the president and CEO of IBM in January 2012 and has touted a need for constant reinvention in order for tech companies to be successful. It makes you wonder then, what she’s been doing for the last five and half years and if it will ever pay off for investors. If you’ve tuned into any of the company’s most recent comments, management is beginning to mention blockchain more.Last quarter, they mentioned applications in the cloud and working with seven banks in Europe to launch the technology. According to areport published byIBM about a year ago, IBM said, “15% of banks worldwide expect to widely implement blockchain.” That’s according to the 200 banks surveyed. By 2020, roughly two-thirds of them “expect to have blockchain in commercial production and at scale.” • 7 Stocks to Sell Before the Crash - And Tesla is #1! In November 2016, Tom Rosamilia, the senior vice president of IBM Systems, spoke about various blockchain applications from IBM’s perspective. He spoke of mobile transactions in the $30 billion-per-day range. He mentionedWal-Mart Stores Inc(NYSE:WMT) and its food supply chain in China, minimizing contamination and pinpointing exactly where contaminated strands came from. Perhaps they should callChipotle Mexican Group, Inc.(NYSE:CMG). He also talks about logistics operations being improved as well. “All of those things can be expedited, and we can take that inefficiency out of the system with blockchain,” heexplained during a global technology conferencehosted by UBS. My one concern would be IBM’s execution. IBM has been touting Watson as a world-changing supercomputer. While it may be powerful and capable, we’ve yet to see it turn around IBM’s woes. My fear is that IBM has a chance to leverage Watson and blockchain (blockchain applications, artificial learning, the cloud and machine learning) but will ultimately drop the ball with both assets. Click to Enlarge I don’t think blockchain (or Watson for that matter) makes IBM a screaming buy right here, right now. It will be years before blockchain makes a notable impact, if it does at all. But from a risk/reward standpoint, IBM stock may be worthsomeattention. For all its flaws, valuation is not one of them. IBM stock trades at just 12 times trailing earnings and 10 times forward earnings expectations. On a trailing basis, IBM stock usually trades with a price-to-earnings ratio between 11.5 and 15.5. So it’s near the bottom of that range. It also pays a 4.1% dividend yield. We used a five-year weekly chart. Support sits between $130 and $140, so on a pullback, IBM may be a tasty one to gobble up. On one occurrence, shares did break below support and tumble down to about $115. If support holds though, IBM may be a low risk/high reward setup for blockchain and other applications of the future. Bret Kenwell is the manager and author ofFuture Blue Chipsand is on Twitter@BretKenwell. As of this writing, Bret Kenwell did not hold a position in any of the aforementioned securities. • The 10 Best Stocks of 2017 Through Q3 • The 10 Safest Blue-Chip Dividend Stocks for the Rest of the Year • 10 Best Dow Jones Stocks to Buy for the Rest of 2017 The postIBM: How Bitcoin Could Make Big Blue a Big Buyappeared first onInvestorPlace. || Bitcoin tumbles on report China to shutter digital currency exchanges: By Gertrude Chavez-Dreyfuss and Angela Moon NEW YORK (Reuters) - Bitcoin fell sharply on Friday after a report from a Chinese news outlet said China was planning to shut down local crypto-currency exchanges, although analysts said this was just a temporary setback. Sources close to a cross regulators committee that oversees online finance activities told Chinese financial publication Caixin that authorities plan to shut key bitcoin exchanges in China. Reuters was not immediately able to verify the report. But two sources in direct contact with officials at three Chinese bitcoin exchanges - Beijing-based OKCoin, Shanghai-based BTC China, and Beijing-based Huobi - said the platforms told them that they have not heard anything from the Chinese government. The news follows China's move earlier this week 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. Greg Dwyer, business development manager at crypto-currency trading platform BitMEX, said there was confusion over whether China would close bitcoin exchanges following the ICO ban. "If this turns out to be true, then this sell-off is substantiated, and we could see further downside over the weekend, as it could mean the large bitcoin/Chinese yuan exchanges will need to halt trading," he added. Bitcoin dropped to a low of $4,227 on the BitStamp platform and last traded at $4,309.80, down 6.6 percent. On Sept 2, it hit a record high of nearly $5,000. Sharp losses such as Friday's are par for the course for an asset like bitcoin, analysts said. Over the course of its eight-year history, bitcoin has on a daily basis risen as much as 18 percent and fallen as much as 13 percent. Still, bitcoin was still up nearly 346 percent this year. John Spallanzani, chief macro strategist at GFI Group, said Friday's losses could be short-lived. "Bitcoin is here to stay," he said. Jehan Chu, a partner at Jen Advisors, a Hong Kong-based early-stage blockchain venture capital firm, noted that should China shut down bitcoin exchanges, it will not be the end of the crypto-currency world in the country. Blockchain, a digital ledger of transactions underpinning bitcoin, has leapt to prominence as it enable users to track and record assets across all industries. "This is just China pressing the 'Pause button," said Chu. 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. By mid-July, tech firms had raised about $1.1 billion in 89 coin sales this year, roughly 10 times more than in all of 2016, data from crypto-currency research firm Smith + Crown showed. (Reporting by Gertrude Chavez-Dreyfuss and Angela Moon; Editing by Dan Grebler and Chizu Nomiyama) || Report: Goldman Sachs Considering Bitcoin Services for Clients: Wall Street investment bank Goldman Sachs is rumored to be putting together a new trading outfit dedicated to cryptocurrencies like bitcoin, according to a new report. Citing unnamed sources, theWall Street Journalreports that Goldman is in the "early stages" of the effort – though it cautioned that the bank may ultimately pass on a cryptocurrency-focused trading operation. The Journal further adds that the trading operation could see input from more than one office within Goldman. "Goldman’s effort involves both its currency-trading division and the bank’s strategic investment group, the people said. That suggests the firm believes bitcoin’s future is more as a payment method rather than a store of value, like gold," the Journal reported. Representatives for Goldman did not immediately respond to a request for comment. But a spokeswoman told the Journal that, in light of interest from the bank's clientele, "we are exploring how best to serve them in [the cryptocurrency] space." That clients may be asking for closer access to cryptocurrency markets through the bank directly is perhaps unsurprising, given past moves from the bank. Beginning this summer, analysts at Goldman began predictive notes on the bitcoin market, with chief technician Sheba Jafari notablypredictingbitcoin's climb past $4,800. And in a question-and-answer report published in August, Goldman analystswrotethat "real dollars are at work here and warrant watching." Imagevia Shutterstock • AngelList Creator Naval Ravikant Backs S&P-Style Cryptocurrency Fund • Slow Ascent? Bitcoin Prices Climb Toward $4,500 on Weak Volumes • Philly Fed Chief: Bitcoin Has Little Chance of Thwarting Monetary Policy • Bull Trap? Bitcoin Prices Struggle to Build Momentum Above Moving Average || JPMorgan's Dimon says bitcoin 'is a fraud': By David Henry and Anna Irrera NEW YORK (Reuters) - Bitcoin "is a fraud" and will blow up, Jamie Dimon, chief executive of JPMorgan Chase & Co (JPM.N), said on Tuesday. Speaking at a bank investor conference in New York, Dimon said, "The currency isn't going to work. You can't have a business where people can invent a currency out of thin air and think that people who are buying it are really smart." Dimon said that if any JPMorgan traders were trading the crypto-currency, "I would fire them in a second, for two reasons: It is against our rules and they are stupid, and both are dangerous." Dimon's comments come as the bitcoin, a virtual currency not backed by any government, has more than quadrupled in value since December to more than $4,100. Bitcoin is a digital currency that enables individuals to transfer value to each other and pay for goods and services bypassing banks and the mainstream financial system. While banks have largely steered clear of bitcoin since it emerged following the financial crisis, the virtual currency has a range of people who support it, including technology enthusiasts, liberterians skeptical of government monetary policy and speculators attracted by its price swings. "Like it or not, people want exposure to bitcoin," Edward Tilly, chairman and CEO of exchange group CBOE Holdings Inc. (CBOE.O), said at the same conference. CBOE has applied with U.S. regulators to launch a bitcoin futures contract and a bitcoin exchange traded fund on its venues. Any good trade is started with a difference of opinion, Tilly added. "So Jamie can be on the short side and the issuers and those trading in physical can be on the long side, and it sounds like we have a great trade.” Dimon may also be on the other side of another bitcoin trade closer to home. At another conference about two hours later, Dimon said that one of his daughters had bought some bitcoin. "It went up and she thinks she's a genius now," Dimon said at the CNBC Institutional Investor Delivering Alpha Conference. "WORSE THAN TULIP BULBS" Banks and other financial institutions have been concerned over bitcoin's early association with online crime and money laundering. The supply of bitcoin is meant to be limited to 21 million, but there are clones of the virtual currency in circulation which have made the market for it more volatile. "It is worse than tulips bulbs," Dimon said, referring to a famous market bubble from the 1600s. JPMorgan and many of its competitors, however, have invested millions of dollars in blockchain, the technology that tracks bitcoin transactions. Blockchain is a shared ledger of transactions maintained by a network of computers on the internet. Story continues Dimon said such uses will roll out over coming years as it is adapted to different business lines. Financial institutions are hoping blockchain can be adapted to simplify and lower the costs of processes such as securities settlement, loan trading and international money transfers. Dimon predicted big losses for bitcoin buyers. "Don't ask me to short it. It could be at $20,000 before this happens, but it will eventually blow up." he said. "Honestly, I am just shocked that anyone can't see it for what it is." Bitcoin’s price fell as much as 4 percent following Dimon's comments and was last trading at $4,164. Rumours that the Chinese government is planning to ban trading of virtual currencies on domestic exchanges has weighed on bitcoin recently. "It feels like we are in the midst of a negative news cycle, but even considering all this, we are still trading above $4,000." said John Spallanzani, chief macro strategist at GFI Group. (Reporting by David Henry and Anna Irrera in New York Additional reporting by John McCrank, Angela Moon and Lawrence Delevingne; Editing by Steve Orlofsky and Jonathan Oatis) View comments || Here's how Silicon Valley is responding to the Charlottesville rally, and Trump's comments on it: A Virginia rally instigated by white nationalists over the weekend has escalated tensions between President Donald Trump and the business community . Many critics have perceived Trump's responses to violence in Charlottesville, Virginia, as equivocating the actions of white supremacists with those protesting racism. The discord in Washington came amid a growing divide between the administration and Silicon Valley, which have clashed over issues like the environment, immigration and LGBTQ rights. Although tech CEOs did not have the same formal ties to business advisory councils at the White House, many spoke out on the issue this week. Notably, though, some also stayed silent. Amazon (NASDAQ: AMZN) declined to comment to CNBC earlier this week, and Trump ally and venture capitalist Peter Thiel has also not responded to requests for comment. But still, Silicon Valley has overwhelmingly spoken out against both Trump's comments and the racist instigators. Here's what's happened so far: Apple Apple (NASDAQ: AAPL) CEO Tim Cook responded on Twitter as the events unfolded in Charlottesville, writing that "violence and racism have no place in America," and that the events were an "affront to America." In an internal memo obtained by Recode on Wednesday, Cook announced the company would donate $1 million each to both the Southern Poverty Law Center and the Anti-Defamation League, and would also match employee donations until Sept. 30. "Hate is a cancer, and left unchecked it destroys everything in its path. Its scars last generations," Cook reportedly wrote. Apple also plans to set up donations to the Southern Poverty Law Center through iTunes, the memo said, and the tech giant has started to disable Apple Pay payments to white nationalist websites, the company told BuzzFeed News . Facebook It was not Mark Zuckerberg , but Facebook (NASDAQ: FB) 's chief operating officer, Sheryl Sandberg , who first responded to the events in Charlottesville. In a Monday Facebook post, Sandberg wrote that she was heartbroken, and called for her followers to teach their children values like equality and compassion. Story continues Zuckerberg shared more details on Wednesday, writing that he had a hard time processing the events of the past few days. "I know a lot of us have been asking where this hate comes from. As a Jew, it's something I've wondered much of my life," Zuckerberg wrote. "It's a disgrace that we still need to say that neo-Nazis and white supremacists are wrong — as if this is somehow not obvious. My thoughts are with the victims of hate around the world, and everyone who has the courage to stand up to it every day." Facebook is actively monitoring for threatening posts celebrating terrorism after the rally in Charlottesville, Zuckerberg said. The company is perfecting a system for taking the posts down as soon as possible. IBM IBM (NYSE: IBM) CEO Ginni Rometty was one of three female executives that initiated a process that dissolved White House business advisory panels, sources told CNBC . In an internal memo obtained by CNBC on Wednesday, Rometty wrote: "The despicable conduct of hate groups in Charlottesville last weekend, and the violence and death that resulted from it, shows yet again that our nation needs to focus on unity, inclusion, and tolerance. ... And we have always believed that dialogue is critical to progress; that is why I joined the President's Forum earlier this year. But this group can no longer serve the purpose for which it was formed." Intel Intel (NASDAQ: INTC) CEO Brian Krzanich was one of the first major technology CEOs to defect from White House advisory panels after the events in Charlottesville. On Monday, Krzanich wrote , "I resigned because I want to make progress, while many in Washington seem more concerned with attacking anyone who disagrees with them. We should honor – not attack – those who have stood up for equality and other cherished American values. I hope this will change, and I remain willing to serve when it does." Uber Then-Uber CEO Travis Kalanick had already made his disagreements with President Trump known earlier this year, when he stepped down from a White House council over the administration's immigration proposals. Uber banned several riders on their way to white supremacy rallies over the weekend, telling BuzzFeed News that the event was "deeply disturbing and tragic." In a letter to drivers obtained by The New York Times on Thursday, the company said it would continue to uphold the policy of banning people from the app for discrimination, and that Uber's app would have around-the-clock support. Google (and Dreamhost, GoDaddy, and Cloudflare) Google was one of the several companies to cancel the registration of a Nazi website called Daily Stormer this week. "We are canceling Daily Stormer's registration with Google Domains for violating our terms of service," a company representative said in a statement to CNBC. "The recent events in Charlottesville shocked all of us," Google CEO Sundar Pichai wrote in a statement on social media. "There is simply no place for this type of extremism in America. As a company, we stand united in condemnation." GoDaddy CEO Blake Irving also told CNBC that the company nixed the Daily Stormer, saying the site "went too far." "We always have to ride the fence on top of making sure that we are protecting a free and open internet, and regardless of whether speech is hateful, bigoted, racist, ignorant, tasteless, in many cases we will still keep that content up, because we don't want to be a censor," Irving said. "But when a line gets crossed and that speech starts to incite violence, then we have a responsibility to take that down." Cloudflare was another hosting service that ended up with the Daily Stormer domain. CEO Matthew Prince wrote an email to employees on Wednesday saying, "I woke up this morning in a bad mood and decided to kick them off the internet," according to Reuters . DreamHost, on the other hand, faced a different issue this week: The Department of Justice sent DreamHost a search warrant for data that contain IP addresses and email addresses of people who have visited the website disruptj20.org , the activist group that protested Trump's inauguration. DreamHost said it would not comply . Corning Corning CEO Wendell Weeks also stepped down from a Trump council Wednesday afternoon, citing adherence to the values of the company, which supplies parts to companies like Apple. "[T]he events of the last few days have transformed the council's laudable mission of job creation into a perception of political support for the Administration and its statements. This runs counter to my original intention and is inconsistent with Corning's Values. As a result I have made the decision to step down from the council," Weeks said in a statement to CNBC . Airbnb and PayPal PayPal has been working with online racial justice organization Color of Change to cut off funding for hate groups. Ahead of the rally, Airbnb barred housing rentals to people it believed were traveling to participate. "Prejudice, however, does not always march in the street," PayPal Senior Vice President Franz Paasche wrote in a statement . "Intolerance can take on a range of on-line and off-line forms, across a wide array of content and language. It is with this backdrop that PayPal strives to navigate the balance between freedom of expression and open dialogue — and the limiting and closing of sites that accept payments or raise funds to promote hate, violence and intolerance." Reddit and Twitter Both sites are also reportedly suspending accounts and content that incite violence. Twitter (NYSE: TWTR) CEO Jack Dorsey retweeted former Vice President Joe Biden, who wrote "There is only one side," as well as former President Barack Obama, whose tweet, featuring a Nelson Mandela quote and picture, became the most popular tweet ever. Cisco "The country needed uniting words, words that would bring the country together around what happened this weekend," Cisco (NASDAQ: CSCO) CEO Chuck Robbins told CNBC on Thursday . "And I don't think we got those words ... from him. And I think that's what we need to focus on." — The Associated Press and CNBC's Patti Domm, Dominic Chu, Jordan Novet and Jacob Pramuk contributed to this report. WATCH: One of Trump's top CEO councils disbands More From CNBC Apple and Aetna met last week—here's what they talked about Bitcoin hits record and its market value now tops big tech companies Alphabet's investment arms are growing, giving it clout over tech start-up scene || Dollar remains broadly lower after ISM data disappoints: Investing.com - The dollar remained broadly lower against the other major currencies on Wednesday, after the release of disappointing U.S. data and as uncertainty over the future path of U.S. interest rates weighed. The Institute of Supply Management reported on Wednesday that U.S. service sector activityincreased slightly less than expected in August. The greenback was already under pressure since Federal Reserve official Lael Brainard said on Tuesday thatthe central bank should delay raising interest ratesuntil it is confident inflation that is now "well short" of target will rebound. The yen and Swiss franc turned lower, with USD/JPY up 0.23% at 109.06 and with USD/CHF adding 0.15% to trade at 0.9568. Safe-haven demand had strengthened earlier, after a North Korean diplomat on Tuesday warned that his country was ready to send "more gift packages" to the U.S. The threat came after the rogue regime conducted its sixth and largest ever nuclear test on Sunday, prompting U.S. Defense Secretary James Mattis to say that any threat to the U.S. or its allies would be met with a “massive military response”. EUR/USD was up 0.09% at 1.1924, while GBP/USD added 0.12% to 1.3048, just off a four-week high of 1.3066 hit earlier in the day. The Australian and New Zealand dollars remained lower, with AUD/USD down 0.11% at 0.7987 and with NZD/USD sliding 0.28% to 0.7213. Earlier Wednesday, the Australian Bureau of Statistics reported on Wednesday that the country's gross domestic product expanded by0.8%in the second quarter, below expectations for an expansion of 0.9%. Year-on-year, the Australian economy grew1.8%in the last quarter, disappointing expectations for an expansion of 1.9%. Meanwhile, USD/CAD tumbled 1.44% to a 27-month low of 1.2198 after the Bank of Canada raised interest rates to1.0%from 0.75%, saying that growth in the country’s economy isbecoming more broad-based and self-sustaining. At the same time, Statistics Canada reported that the trade deficit narrowed toC$3.04 billionin July from a revised C$3.76 billion in June. Analysts had expected the trade deficit to hit C$3.10 billion in July. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.15% at 92.14 by 05:20 a.m. ET (09:20 GMT). Related Articles Forex - Dollar remains broadly lower after ISM data disappoints Forex - USD/CAD tumbles to 27-month lows after BoC move Bitcoin higher for second day, recovering from Monday selloff || Macquarie Analyst Rejects Jamie Dimon's Bitcoin 'Fraud' Critique: A senior analyst for Macquarie Group is pushing back against the idea that bitcoin and other cryptocurrencies are not legitimate financial innovations. Issued in response to recent critiques by Wall Street figures like JPMorgan Chase CEO Jamie Dimon, Viktor Shvets, head of global and Asia-Pacific equity strategy for Macquarie, wrote this week that in spite of any "extreme speculation," bitcoin relies on a "durable technology that is likely to continue to evolve and strengthen." In a note to clients, obtained by Business Insider , Shvetz then directly took on the allegation that bitcoin is a "fraud" – advanced by Dimon earlier this month. "If one describes Bitcoin as a fraud, how would one describe a 'financial cloud' that is at least four to five times larger than the underlying economies?" Shvetz asked, writing: "It is unlikely that $400 trillion+ of financial instruments circulating around the world would ever be repaid and most are now backed by assets that are already either worthless or are diminishing in value. How does one describe rates and the yield curve that are either directly determined by [central banks] ([Bank of Japan] or [People's Bank of China]) or heavily influenced by them ([The] Fed or [European Central Bank])? People living in glass houses should not throw stones." According to BI, Shvetz argued that investors should consider integrating cryptocurrencies into their portfolio strategies, describing them as a hedge against the devaluation of fiat currencies like the dollar. Image via Shutterstock Related Stories Ether Prices Climb Above $300 to Break Two-Week Lull 'Wolf of Wall Street' Jordan Belfort: Jamie Dimon is Right About Bitcoin USV's Fred Wilson Predicts 'Big' Cryptocurrency Crash Banks Are 'Afraid' of Bitcoin, Says Wealth Advisor [Random Sample of Social Media Buzz (last 60 days)] #crypto4all Bitcoin's value has multiplied fourfold this year. !!! || How to get rich in bitcoin pic.twitter.com/gtcW0RsiaC || I just made a bitcoin joke. I've never heard of that guy || Gana $45,00 Usd Por Afiliar, Quieres ganarte dólares con Bitcoin sin tanto esfuerzo? Es solo dedi ·-·> https://goo.gl/Cdo6SQ  _ #España || Sep 29, 2017 06:00:00 UTC | 4,048.50$ | 3,437.00€ | 3,017.80£ | #Bitcoin #btc pic.twitter.com/gBBD4DLfHs || You can’t help but sport a smile today because so many signs a... More for Gemini http://bit.ly/A9Q3zb  || 2017-09-04 2:00~3:00のBitcoin市場は上げ一服だったみたいだね。 変化率は0.6894% 4:00までは急落かな? 直近の市場の平均Bitcoinの価格は513738.0円 #ビットコイン #bitcoin #AI || Bitcoin Prices Pass $4,000 for the First Time - CoinDesk https://buff.ly/2w1ZaLJ  || #Bitcoin 0.01% Ultima: R$ 14300.00 Alta: R$ 14320.00 Baixa: R$ 13950.00 Fonte: Foxbit || Btc Next plan 3000 then >>>>>3500 Again 3000 See ya
Trend: up || Prices: 4328.41, 4370.81, 4426.89, 4610.48, 4772.02, 4781.99, 4826.48, 5446.91, 5647.21, 5831.79
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 2017-02-02] BTC Price: 1011.80, BTC RSI: 67.80 Gold Price: 1216.70, Gold RSI: 62.06 Oil Price: 53.54, Oil RSI: 55.61 [Random Sample of News (last 60 days)] Investors bide their time as Trump prepares to talk—after more tweets: Investors are sitting tight as they wait to hear what President-elect Donald Trump says at his news conference this morning. Stock futures are pointing to a mixed open on Wall Street. Here are some of the other stories the Yahoo Finance team is covering for you today. Trump, Russia and BuzzFeed The focus on Russia’s role in the US presidential election intensified after CNN reported that Trump and President Obama were briefed last week on unverified allegations that Russian operatives claimed to have compromising personal and financial information about Trump. BuzzFeed has gone ahead and published 35 pages of memos. How is BuzzFeed defending publishing unsubstantiated claims while other news organizations hold back? Tillerson’s ties to Putin, Exxon The Senate begins confirmation hearings of former Exxon ( XOM ) CEO Rex Tillerson to be Secretary of State. Much of the attention will focus on Tillerson’s ties to Russian President Vladimir Putin. In prepared remarks, Tillerson says Russia poses a danger, but that Russia’s resurgence happened in the “absence of American leadership, ” and that he will call for open and frank dialogue with Moscow. What will senators think? Bitcoin’s China slide Bitcoin fell by about $50, or 5%, after China’s central bank said it had launched investigations into bitcoin exchanges. The investigations involve possible market manipulation and money laundering. What does this tell us about the volatility of the digital currency? || Game Development and Blockchain Integration Will Boost Cryptocurrency’s Worldwide Expansion: Game development, led by blockchain solutions like GameCredits, can boost the adoption rate of cryptocurrency worldwide, Forbes.com asserts. GameCredits payment gateway is now successfully tested in the Free MMO FRAGORIA by hundreds of players. LOS ANGELES, CA / ACCESSWIRE / December 23, 2016 /A revolution in game development occurred December 7th when global game developer Datcroft, launched GameCredits’ blockchain payment gateway in their title game Fragoria. GameCredits payment gateway offers the first cryptocurrency payment solution designed for the gaming industry. GameCredits payment gateway is LIVE within popular RPG Fragoria. After barely 2 weeks of release, thousands of players are already trying the system within the 8 million player game. Unlike other blockchain gaming products, this pioneering blockchain solution was founded by gaming industry experts.Gamecredits, as featured in a recent Forbes article, will help to widespread cryptocurrency around the world.Game developers who seek fast payment processing, increased security, higher consumer deposit limits, and decreased fees can now take advantage of the open source platform provided by Datcroft and GameCredits. This payment system allows any user to access the GameCredits blockchain web wallet directly from their game store. Datcroft introduced this system to the 8 million registered users of theRPG Fragoria, where players can now choose to purchase in-game items or currency with GameCredits, “GAME”. Gamers who choose to pay with “GAME” will reap the benefits of increasing currency value, transferability, anonymity, and increased security. By using Gamecredits, video games can establish rich economic ecosystems using a tangible digital asset.Partnering with Gamecredits, Datcroft is paving the way for the future of gaming. A future where video games are based on a digital currency, opening the doors for currency transfer and new marketplaces. Ultimately, this means more revenue in the pockets of developers and more opportunities for gamers.To take advantage of this payment gateway, developers will be able to access GameCredits open source API (Application Program Interface). After access to the program, developers can quickly add gamecredits as a means of payment within their games. This payment system will instantly reduce transaction costs and fees thereby attracting more game development experts over time.Datcroft Games and GameCredits are excited to unveil this platform to the game development community. The payment system is specifically tested to meet the needs of players in successful games such as Fragoria. Sergey Sholom CEO of Datcroft Games explains, “This is the first gaming centered cryptocurrency designed by game developers for game developers. For a blockchain integration such as this to be successful, you must have a team with a background in game development. Only then can you bring a proprietary product like GameCredits to the marketplace and have it succeed”. By joining forces, Datcroft' and GameCredits provide the necessary gaming expertise to significantly impact the gaming world.The two companies have a working plan for the future of GameCredits. First, they will continue to test the payment solution within Fragoria, working out any design issues and minor bugs. Second, they will integrate the gateway into another successful Datcroft game, Get the Gun, allowing them to further test the solution and work out kinks that could occur in a different game format. Third, credit card and Paypal payment options will be added to the gateway so gamers can purchase GameCredits without having to first buy Bitcoin. Finally, the companies will roll out announcements for mobile gaming solutions.With over 13 years of experience in game development, Datcroft Games strives to provide innovative and unique gaming experiences. Their dedication to these goals will further bolster GameCredits capabilities as the companies revolutionize the world of blockchain gaming.For more information, please visithttp://gamecredits.com Contact:Name: Nebojša MaksimovićEmail: [email protected]: GameCredits Inc Video URL:https://www.youtube.com/watch?v=yK7S59NAo0Q Source:Game Credits Inc. || Bitcoin slides as China's central bank launches checks on exchanges: * Graphic on bitcoin and yuan:http://tmsnrt.rs/2jsDIt9 * PBOC checks focus on exchanges' operations; possible violations * Platforms say in compliance, working with authorities * Bitcoin price falls to 3-week low, below $800 (Adds comments, background, graphic, updates prices) By John Ruwitch and Jemima Kelly SHANGHAI/LONDON, Jan 11 (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 unauthorised 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 unauthorised 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 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, 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 rigour 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. ($1 = 6.9317 Chinese yuan renminbi) (Additional reporting by Winni Zhou, Brenda Goh and Samuel Shen; Editing by Ian Geoghegan) || Bitcoin firm gets approval to operate in Switzerland: By Brenna Hughes Neghaiwi ZURICH (Reuters) - Bitcoin wallet provider Xapo said it has received conditional approval from Switzerland's financial market watchdog to operate in the country in a regulatory breakthrough for companies that provide safekeeping for the virtual currency. "After almost two years of substantial effort and investment, Xapo has received conditional approval from the Swiss Financial Market Supervisory Authority (FINMA) to operate in Switzerland," Xapo CEO Wences Casares said in a blog on the company's website. The approval depended on several factors, including membership of a "self-regulatory organization", Casares said, but added that the company was optimistic of meeting the conditions and being able to serve non-U.S. customers from Switzerland. FINMA declined to comment on an individual company's status. Olga Feldmeier, a former managing partner of Xapo who coordinated the Swiss licensing process for the company, told Reuters that Xapo had been designated a financial intermediary, meaning it will not require a costly banking license. Wallet providers like Xapo, which was founded in Silicon Valley, store the private keys that allow clients to access their digital currency funds. While other crypto-currency firms already operate in Switzerland, Xapo's operation as a bitcoin wallet provider had raised questions over whether it required a banking license. A burgeoning industry surrounding bitcoin - a web-based "crypto-currency" that has no central authority, relying instead on a global network of computers that validate transactions and add new bitcoins to the system - has posed questions for lawmakers and regulators. Xapo argued it did not accept deposits. Swiss authorities are eager to secure a leading role for Switzerland while playing catch-up in a rapidly changing financial technology (fintech) landscape. Bitcoin Suisse operates a network of bitcoin ATMs across the country, as well as an online and in-person brokerage for buying and selling bitcoins. But it does not itself store the private access keys that led to questions about whether Xapo was taking deposits. Story continues Switzerland's cabinet in November proposed new light-touch regulations for fintech companies aimed at bolstering business and competitiveness. The proposals include a fintech license, granted by FINMA, for institutions which are restricted to taking deposits of up to 100 million Swiss francs ($99.9 million) and do not lend. Xapo is now in the process of joining a self-regulatory organization required under Swiss anti-money laundering regulations to begin operations, Feldmeier said. (Editing by Adrian Croft) || 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. NOW WATCH:Why Korean parents are paying for their kids to get plastic surgery More From Business Insider • Bitcoin is surging • Here's why 2017 will be a turning point for the UK marketplace lending industry • The price of bitcoin is at a 2016 high || 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) || 10 things you need to know before the opening bell: Soccer fan masks (General view of a fan with Jamie Vardy masks on the seats before the match.Reuters/Reuters Staff) Here is what you need to know. Dow 20,000 is in the crosshairs . The Dow Jones Industrial Average booked a fractional gain on Tuesday, finishing at 19,945.04. The index is set to open higher by 0.1% near 19,971. Bitcoin is up again . The cryptocurrency is up about 3% at $958, and trading at its best level since November 2013. Bitcoin has gained $135, or 16.4%, over the past week. Toshiba crashes after warning of a multi-billion dollar writedown . Shares of the chips-to-construction group tumbled 20% on Wednesday after the company warned it might need to take a larger than expected writedown on its acquisition of Chicago Bridge & Iron. Delta cancels an order from Boeing . Delta Air Lines has canceled an order for 18 Boeing widebody 787 Dreamliner jets, with a list price of $4 billion, that was inherited from its takeover of Northwest Airlines, the Seattle Times says. BP is buying gas stations in Australia . The London-based oil giant has agreed to pay $1.3 billion for Woolworths' 527 retail fuel outlets in Australia, according to Bloomberg. Qualcomm got hit with an $854 million fine by South Korea . The Korea Fair Trade Commission, South Korea's antitrust regulator, has ruled that Qualcomm hindered competition as a result of its business practices of patent licensing and smartphone modem chip sales, Reuters reports. Panasonic is investing in a Tesla production facility . Panasonic will invest $256 million in a Tesla production facility that makes photovoltaic (PV) cells and modules, Reuters reports. CEO pay is rising in the UK, but "economic profit" isn't . A report released by the CFA Institute showed CEO pay in the UK has climbed 82% in the last 13 years, but the average company generated less than a 1% return for investors. Stock markets around the world are up . Hong Kong's Hang Seng (+0.8%) paced the gains overnight and Britain's FTSE (+0.4%) leads in Europe. Story continues US economic data trickles out. Pending home sales will be released at 10 a.m. ET. The US 10-year yield is unchanged at 2.56%. More From Business Insider Alt-right movement descends into civil war after leading figure is booted from Trump inauguration event 'Star Wars' actress Carrie Fisher is dead at 60 Here's a super-quick guide to what traders are talking about right now || 10 things you need to know before the opening bell: (A view of a firing contest among multiple launch rocket system (MLRS) batteries selected from large combined units of the KPA, in this undated photo released by North Korea's Korean Central News Agency (KCNA) in Pyongyang.Reuters/KCNA) Here is what you need to know. Dow 20,000 remains elusive.The Dow Jones Industrial Average dipped 0.16% on Wednesday to finish at 19,941.96. It's set to open Thursday's session near 19,935. Wednesday was the most boring day for stocks since 1992.Wednesday's intraday range of 1.9 basis points was the tightest since Christmas Eve 1992, according to Bespoke Investment Group. The world's oldest bank is moving closer to a bailout.Monte Paschi failed to secure a key investor for its new share offering, and Reuters reports that caused other investors to balk at the deal. Aside from failing, the only realistic option at this point is a state bailout by the Italian government. Bitcoin is at its best level in 3 years.The cryptocurrency trades higher by more than 5% on Thursday at $874.04, its best level since December 2013. Carl Icahn will have a role in the Trump Administration.Icahn will serve as a special adviser to Trump on regulation. "His help on the strangling regulations that our country is faced with will be invaluable," Trump said in a release. Air Force One will cost less than previously expected.After meeting with Trump, Boeing CEODennis Muilenburg said the president's plane will cost less than previous estimate of near $4 billion. "We work on Air Force One because it's important to our country and we're going to make sure that he gets the best capability and that it's done affordably," Muilenburg said. Hershey has a new CEO.Michele Buck has been named president and CEO, effective March 1, 2017. Currently, Buck is the company's executive vice president and COO. Stock markets around the world are lower.Hong Kong's Hang Seng (-0.8%) lagged in Asia and Spain's IBEX (-0.4%) trails in Europe. Earnings reporting remains light.Rite Aid and ConAgra Brands will release their quarterly results ahead of the opening bell while Cintas reports after markets close. US economic data picks up.GDP, durable goods, and initial jobless claims will all be released at 8:30 a.m. ET before the FHFA House Price Index crosses the wires at 9 a.m. ET and personal income and spending are announced at 10 a.m. ET. The US 10-year yield is up 2 bps at 2.55%. More From Business Insider • I’ve tested over 100 headphones in the past year, and I keep coming back to this $26 pair • Here's a super-quick guide to what traders are talking about right now • 'The global bond rout deepens:' Here's a quick guide to what traders are talking about right now || Facebook, Amazon, and Google Have Rebounded from Donald Trump Dump: Donald Trump hasn’t declawed the FANG stocks for good, it seems. Stock market investors have recently been caught up in a rally that has become known as the Trump Bump : Stocks have mostly zoomed forward since Trump won the election, putting the Dow Jones industrial average within striking distance of 20,000 for the first time ever. But there are some notable companies that experienced more of a Trump Dump. That seems to be changing in the early days of 2017. The Nasdaq has risen nearly 3% in the first five trading days of this year, outpacing both the Dow, up only about 0.7%, and the S&P 500, up 1.5%. Indeed, the Nasdaq was the only major U.S. stock index to rise Monday, setting a new record high for the third trading day in a row. The reasons: A number of technology companies that were among some of investors’ most hated stocks in 2016, especially since Trump became president elect, have recently been on a rapid rebound, including Facebook , , , and . The group of so-called FANG stocks all fell in the wake of Trump’s election late last year (with Facebook stock down more than 7%), leading some high-profile investors such as DoubleLine CEO Jeffrey Gundlach to swear them off entirely. Now, however, all four companies have more than recovered their post-Trump losses. Facebook stock has already gained nearly 9% in 2017, while shares of Amazon and Netflix are both up more than 6%. Google’s stock is up almost 5% so far this year. They’re not alone. Nasdaq stocks including Tesla and Yahoo have also kicked off 2017 strong, with Tesla shares returning nearly 8% and Yahoo stock up more than 7%. Chinese tech giant Baidu , also listed on the Nasdaq, has gained more than 8% so far this year. It’s hard to say exactly why the FANG stocks and other tech companies have bounced back so forcefully in early 2017, or if the trend will continue. After all, January stock performance has recently been a poor indicator of how the market will act for the rest of the year. Story continues For now, investors may simply be hoping that President Trump won’t be as bad for tech companies as some had expected. Facebook, for one, has already taken steps to address concerns over fake news stories that had hurt the tech stock following Trump’s election. Still, it isn’t simply a reversal of behavior among stocks that had surged or sank after the November election. stock, which fell after Trump won, has fallen slightly further in 2017. And stock, the big winner of the Trump rally , is still rising. But as least for now, investors are biting into technology FANG stocks once again. See original article on Fortune.com More from Fortune.com President Obama Was Officially Terrible For Hedge Funds Microsoft and Qualcomm Are Backing This Israeli Security Startup Studio Here's Why Bitcoin's Price Continues to Plunge How a China Crackdown Caused Bitcoin's Price to Plunge Verizon Is Still on the Fence About the Yahoo Deal || Bitcoin firm gets approval to operate in Switzerland: By Brenna Hughes Neghaiwi ZURICH (Reuters) - Bitcoin wallet provider Xapo said it has received conditional approval from Switzerland's financial market watchdog to operate in the country in a regulatory breakthrough for companies that provide safekeeping for the virtual currency. "After almost two years of substantial effort and investment, Xapo has received conditional approval from the Swiss Financial Market Supervisory Authority (FINMA) to operate in Switzerland," Xapo CEO Wences Casares said in a blog on the company's website. The approval depended on several factors, including membership of a "self-regulatory organization", Casares said, but added that the company was optimistic of meeting the conditions and being able to serve non-U.S. customers from Switzerland. FINMA declined to comment on an individual company's status. Olga Feldmeier, a former managing partner of Xapo who coordinated the Swiss licensing process for the company, told Reuters that Xapo had been designated a financial intermediary, meaning it will not require a costly banking license. Wallet providers like Xapo, which was founded in Silicon Valley, store the private keys that allow clients to access their digital currency funds. While other crypto-currency firms already operate in Switzerland, Xapo's operation as a bitcoin wallet provider had raised questions over whether it required a banking license. A burgeoning industry surrounding bitcoin - a web-based "crypto-currency" that has no central authority, relying instead on a global network of computers that validate transactions and add new bitcoins to the system - has posed questions for lawmakers and regulators. Xapo argued it did not accept deposits. Swiss authorities are eager to secure a leading role for Switzerland while playing catch-up in a rapidly changing financial technology (fintech) landscape. Bitcoin Suisse operates a network of bitcoin ATMs across the country, as well as an online and in-person brokerage for buying and selling bitcoins. But it does not itself store the private access keys that led to questions about whether Xapo was taking deposits. Story continues Switzerland's cabinet in November proposed new light-touch regulations for fintech companies aimed at bolstering business and competitiveness. The proposals include a fintech license, granted by FINMA, for institutions which are restricted to taking deposits of up to 100 million Swiss francs ($99.9 million) and do not lend. Xapo is now in the process of joining a self-regulatory organization required under Swiss anti-money laundering regulations to begin operations, Feldmeier said. (Editing by Adrian Croft) [Random Sample of Social Media Buzz (last 60 days)] MMMBTC || MMMBTC || #CannaCoin #CCN $0.010801 (8.32%) 0.00001363 BTC (7.75%) || 17.12.2016 16:34: Buy Bitcoin West Valley City https://goo.gl/fb/LJceYv  #bitcoin || In the last 10 mins, there were arb opps spanning 14 exchange pair(s), yielding profits ranging between $0.00 and $315.44 #bitcoin #btc || MMMBTC || Ethereum: el adversario mortal del Bitcoin - #Dinerohttp://www.grandesmedios.com/ethereum-adversario-mortal-del-bitcoin/ … || MMMBTC || Rally in this controversial currency crushed everyone else in the forex market #Bitcoin http://ow.ly/Wp3w507G532  || はまちゃんにどつかれたり 段ボールに入ってテレビを見るビットガールがこちらです。 ダウンタウンDX出てたとは。。。 すごい #ビットガールズ https://www.youtube.com/watch?v=xwmp7NuezW8&feature=youtu.be …
Trend: down || Prices: 1029.91, 1042.90, 1027.34, 1038.15, 1061.35, 1063.07, 994.38, 988.67, 1004.45, 999.18
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 2016-05-05] BTC Price: 447.98, BTC RSI: 54.61 Gold Price: 1271.40, Gold RSI: 56.90 Oil Price: 44.32, Oil RSI: 60.27 [Random Sample of News (last 60 days)] Rocky Mountain Ayre Launches HempCoin: DOVER, DE--(Marketwired - Apr 21, 2016) - Rocky Mountain Ayre, Inc., a holding company (OTC PINK:RMTN), is pleased to announce that it has officially launched HempCoin, its Crypto-Currency, on two Crypto-Currency exchanges. President of RMTN, Tim Ayre, says, "We are extremely pleased to have started trading on two very well-known exchanges and we expect to trade on several more in the near future." The two exchanges trading HempCoins areC-CexandYobit. In addition, Ayre says, "We have completely remade our website,www.hempcoin.com. The website offers plenty of information for users looking to purchase or mine the coins. We wanted it to be sophisticated in scope yet still be user friendly and I believe we have succeeded there." Every 10 HempCoins are backed by 1 share of RMTN. About HempCoin HempCoin (HMP) runs on its own peer to peer blockchain like BitCoin (BTC) but at a faster rate because it is using the script technique like LiteCoin. So in addition to having the advantage of being able to move HMP around faster than BTC, HMP is backed by the marketable securities of RMTN. BTC is strictly a fiat currency like the US Dollar, however, BTC has the potential to go up in value against the Dollar because of supply and demand factors and HMP has this same built in advantage because unlike the Dollar, both BTC and HMP have a limited amount of coins in circulation, while the Dollar is ever increasing in supply. About Rocky Mountain Ayre, Inc. Rocky Mountain Ayre is a publicly traded company listed on the OTC markets under the "RMTN" trading symbol. It is a holding company increasing its asset and revenue base through acquisition and/or creation of operating entities. The Company currently has two entities in its portfolio and is focusing its efforts on its Crypto-Currency, HempCoin, at this time. Safe Harbor Statement This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect the Company's current beliefs and are based upon information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. The Company undertakes no obligation to update or advise in the event of any change, addition or alteration to the information catered in this Press Release including such forward-looking statements. || Traders: These stocks will shock in earnings: Despite seeing their best weekly performance in a month, the financials kicked off earnings season on a tepid note. The "Fast Money" traders debated what this means for earnings season, which kicks into full swing next week. Two traders agreed that investors should take a closer look at the fertilizer names. Trader Brian Kelly is keeping an eye on Potash Corporation of Saskatchewan(Toronto Stock Exchange: POT-CA). Kelly said the stock has been under pressure and could surprise when it reports on April 28. Trader Tim Seymour agreed and said he thinks Mosaic(NYSE: MOS)is another fertilizer company to keep an eye on when it reports on May 4. Seymour explained that the stocks in this sector have been "priced for dead." Trader Guy Adami is bullish on McDonald's(NYSE: MCD)which reports before the bell on April 22. "This stock is within a whisper of its all-time high ... I think there's a good chance this stock continues to go to the next level. It's not a broken stock, but I think people continue to underestimate it," Adami explained. Disclosures: Guy Adami Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck. Steve Grasso Steve is Long AAPL, BA, BAC, CC, DD, DIS, DECK, EVGN, KBH, MJNA, MU, OLN, PFE, PHM, T, TWTR, GDX firm is long CVX, NE, OXY, RIG kids own EFA, EFG, EWJ, IJR, SPY Brian Kelly Brian Kelly is long BBRY, Bitcoin, GLD, SLV, TLT, US Dollar, UUP; he is short Aussie Dollar, BLK, British Pound, CS, DB, Euro, EWA, EWH, FRC, Hong Kong Dollar, UBS, SPY, Yuan, 5-Year Note Futures Tim Seymour Tim Seymour is long AAPL, AVP, BAC, BBRY, CLF, DO, EDC, EWZ, F, FCX, FXI, GM, GOOGL, GRMN, GE, GLNCY, INTC, LQD, MCD, MPEL, NKE, RACE, RAI, RL, SINA, T, TWTR, UA, VALE, VZ, XOM. Tim's firm is long BABA, BIDU, CLF, EWZ, F, HD, KO, MCD, MPEL, NKE, PEP, PF, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, YHOO, short HYG, IWM, WYNN More From CNBC • Top News and Analysis • Latest News Video • Personal Finance || '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. "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) || Australian says he created bitcoin, but some skeptical: By Byron Kaye and Jemima Kelly SYDNEY/LONDON (Reuters) - Australian tech entrepreneur Craig Wright identified himself as the creator of controversial digital currency bitcoin on Monday but experts were divided over whether he really was the elusive person who has gone by the name of Satoshi Nakamoto until now. Uncovering Nakamoto's real identity would solve a riddle dating back to the publication of the open source software behind the cryptocurrency in 2008, before its launch a year later. Bitcoin has since become the world's most commonly used virtual currency, attracting the interest of banks, speculators, criminals and regulators. Worth a total of $7 billion at current levels, it fell more than 3 percent on Monday -- a normal intraday move for the volatile currency -- after the news, to below $440 from around $455, before recovering slightly. Some online commentators suggested bitcoin's creator could help resolve a bitter row among the currency's software developers that threatens its future. But Wright made no reference to the row in a BBC interview identifying himself as Nakamoto, and as the protocol bitcoin runs on is open-source and cannot be controlled by any one person, it is unclear whether he would be able to influence the way it develops. "I was the main part of it, other people helped me," Wright, who is now living in London, told the BBC. "Some people will believe, Some people won't, and to tell you the truth, I don't really care," he said. Many bitcoiners said Wright had not done enough to definitively prove that he was Nakamoto, who maintained his anonymity throughout his involvement with bitcoin, which he stepped away from in 2011. But Gavin Andresen, who Nakamoto chose to succeed him, published a blog post in which he described meeting Wright last month and said he is “convinced beyond a reasonable doubt” that the Australian is Nakamoto. Jon Matonis, a founding director of the Bitcoin Foundation now works as a bitcoin consultant, wrote a blog post on Monday which, like Andresen’s, supported Wright’s claims. “According to me, the proof is conclusive and I have no doubt that Craig Steven Wright is the person behind the Bitcoin technology, Nakamoto consensus, and the Satoshi Nakamoto name,” Matonis wrote. He and Andresen also confirmed they had been responsible for their respective blog posts to Reuters directly. LEGACY Nakamoto's biggest likely legacy lies well beyond his control. The blockchain technology that underpins the currency could transform the way banks settle transactions, the way that property rights and other vital data are recorded, and provide a way for central banks to issue their own digital currencies. The BBC reported on Monday that Wright gave some technical proof demonstrating that he had access to blocks of bitcoins known to have been created by bitcoin's creator. Researchers believe Nakamoto may be holding up to one million of the more than 15 million bitcoins currently in circulation, which would make the creator worth around $440 million. In a blog post also dated Monday, Wright posted an example of a signature used by Nakamoto and an explanation of how bitcoin transactions are verified and thanked all those who had supported the project from its inception. "This incredible community’s passion and intellect and perseverance have taken my small contribution and nurtured it, enhanced it, breathed life into it," he wrote. However he did not state directly that he was Nakamoto. "Satoshi is dead," he said. "But this is only the beginning." Bitcoin expert Peter Van Valkenburgh, director of research at Washington, D.C.-based advocacy group Coin Center, said a new message cryptographically signed using the private key associated with the so-called Genesis block, the first ever "mined" would have been more convincing. The currency's "miners" are incentivized to process transactions every 10 minutes by a possible reward of bitcoins (25 currently), which is how new bitcoins are created. Wright also spoke with The Economist, but declined requests from the magazine to provide further proof that he was Nakamoto. His representatives told Reuters he would not be taking part in more media interviews for the time being. "Our conclusion is that Mr Wright could well be Mr Nakamoto, but that important questions remain," The Economist said. "Indeed, it may never be possible to establish beyond reasonable doubt who really created bitcoin.” Hopes that bitcoin would become broadly used helped buoy its price to more than $1,000 in December 2013, when its market capitalization was $13 billion compared with today's $7 billion. Wright told The Economist he would exchange bitcoin he owns slowly to avoid pushing down its price. HOME RAIDED In December, police raided Wright's Sydney home and office after Wired magazine named him as the probable creator of bitcoin and holder of hundreds of millions of dollars worth of the cryptocurrency. At the time he made no comment. The treatment of bitcoins for tax purposes in Australia has been the subject of considerable debate. The Australian Tax Office (ATO) ruled in December 2014 that cryptocurrency should be considered an asset, rather than a currency, for capital gains tax purposes. On Monday, the ATO said it had no comment while police were not immediately available for comment. If Wright is Nakamoto he "is now the leader of a movement", said Roberto Capodieci, a Singapore-based entrepreneur working on the blockchain, the technology underlying the currency. That movement ranges from libertarian enthusiasts to central banks experimenting with digital currencies, all of which pay homage in some way to Nakamoto's writings. (Additional reporting by Jeremy Wagstaff in Singapore, Matt Siegel in Sydney and Paul Sandle in London; Editing by Nick Macfie, Raju Gopalakrishnan and Philippa Fletcher) || Your first trade for Thursday: The " Fast Money " traders delivered their final trades of the day. Tim Seymour was a seller of FedEx ( FDX ) . David Seaburg was a buyer of Gilead ( GILD ) . Karen Finerman was a buyer of Foot Locker ( FL ) . Brian Kelly was a seller of the Financial Select Sector SPDR ETF. (NYSE Arca: XLF) Trader disclosure: On March 23, 2016, 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 BAC, C, FL, GOOG, GOOGL, JPM, LYV, KORS, M, SEDG, SPY puts, URI. Her firm is long ANTM, AAPL, BAC, C, C calls, FINL, 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. Brian Kelly is long BBRY, Bitcoin, GLD, GLD puts, SH, SLV, TLT, US Dollar, UUP, Yen; he is short Aussie Dollar, BLK, British Pound, CS, DB, Euro, EWH, FRC, Hong Kong Dollar, UBS, SPY, Yuan, 5-Year Note Futures. David Seaburg: Opinions expressed by David Seaburg are solely his own and do not reflect the views and opinions of Cowen Group, Inc.Tim Seymour is long AAPL, AVP, BAC, BBRY, DO, EDC, F, FCX, GM, GOOGL, INTC, NKE, SINA, T, TWTR, VZ, XOM. Tim's firm is long BABA, BIDU, CLF, KO, MCD, MPEL, PEP, PF, SAVE, SBUX, VALE, WMT,YHOO, short HYG, IWM. More From CNBC Top News and Analysis Latest News Video Personal Finance || ‘Bitcoin is dead,’ says prominent fintech exec: Exactly three months ago, a well-known bitcoin developer, Mike Hearn, wrotea post on Mediumthat rocked the community of people who believe in the future of the digital currency and its technology. Bitcoin, he wrote, has failed. “It has failed because the community has failed… Worse still, the network is on the brink of technical collapse.” The post led to screaming headlines about the end of bitcoin. And yet, the industry plugs along. The currency is trading at $430 USD. Transaction volume (the number of bitcoin transactions per day) is higher now than it was before Hearn’s post, according toa tracker at Blockchain.info. Just this week, theWall Street Journalprofiled a top ETF (exchange-traded fund) attorney who is advocating for a bitcoin ETF, the same effort that Cameron and Tyler Winklevoss are pushing. Barry Silbert, CEO of the Digital Currency Group,reflected this week, “Hearnado is over.” Maybe not. If you ask Taavet Hinrikus, CEO of international-payments app TransferWise, “Bitcoin, I think we can say, is dead. There is no traction, no one is using bitcoin. The bitcoin experiment, I think we can say, is over.” Hinrikus made the comments in an interview with Yahoo Finance, during a visit to discuss his company’s servicelaunching in Mexico this week. “What really happened was a gold rush,” he continued. “People bought bitcoin because they thought it would be worth more tomorrow. And a lot of people got lucky. But we’re not seeing real people use bitcoin. And we don’t know what problem it solves. Now, blockchain, I think, is a genius advancement in technology. But I’m not sure we’re seeing yet where to apply it. I’m pretty excited aboutR3 and Digital Asset Holdings. I think there are many areas where using blockchain is great, but it’s still early days.” He’s not alone in either opinion: JPMorgan CEO Jamie Dimon, for one,has also saidthat bitcoin is “doomed,” and has also drawn a distinction between the currency and its underlying ledger technology, the blockchain. His bank, along with more than 40 others, hassigned on to a consortiumto test blockchain technology for their transaction rails. Of course, TransferWise isn’t a bitcoin company. But the company’s proposition to customers is faster transfer times, and smaller transfer fees, on international remittances. Bitcoin, as a technology, has the same appeal (among many other uses): instant transfers and tiny fees, circumventing big, expensive, sluggish banks or wire services. Startups like TransferWise, and Dwolla, and a host of others that have nothing to do with bitcoin are nonetheless in the same general pool of financial technology, or more specifically, digital payments. The bold claim about bitcoin’s death would mean more, and be more alarming or divisive among the bitcoin community, coming from a bitcoin executive. (After all, one could make the case that bitcoin is a competitor to TransferWise, which deals in fiat currency.)But Hinrikus is no newcomer to fintech: TransferWise has raised nearly $100 million from huge names in tech investing like Peter Thiel, Marc Andreessen, and Richard Branson, and before co-founding TransferWise, Hinrikus was the first hire at Skype and worked there five years as its director of strategy. When asked about bitcoin, Hinrikus began by saying, “We’ve certainly paid lots of attention to bitcoin and blockchain.” If tech entrepreneurs like Hinrikus feel they no longer need to keep paying attention, that could be a problem for the coin and its future viability. -- Daniel Roberts is a writer at Yahoo Finance, covering sports business and technology. Read more: Bitcoin community disputes use of the term ‘Internet of Money’ How big banks are paying lip service to the blockchain Here’s how you can invest in the blockchain Bitcoin's biggest investor just bought its biggest news site || Australian says he created bitcoin, but some sceptical: * Unmasking Nakamoto would solve bitcoin mystery * Some sceptical that Wright is Nakamoto * Wright's blog mentions development of his "small contribution" (Updates with quotes from bitcoin experts) By Byron Kaye and Jemima Kelly SYDNEY/LONDON, May 2 (Reuters) - Australian tech entrepreneur Craig Wright identified himself as the creator of controversial digital currency bitcoin on Monday but experts were divided over whether he really was the elusive person who has gone by the name of Satoshi Nakamoto until now. Uncovering Nakamoto's real identity would solve a riddle dating back to the publication of the open source software behind the cryptocurrency in 2008, before its launch a year later. Bitcoin has since become the world's most commonly used virtual currency, attracting the interest of banks, speculators, criminals and regulators. Worth a total of $7 billion at current levels, it fell more than 3 percent on Monday -- a normal intraday move for the volatile currency -- after the news, to below $440 from around $455, before recovering slightly. Some online commentators suggested bitcoin's creator could help resolve a bitter row among the currency's software developers that threatens its future. But Wright made no reference to the row in a BBC interview identifying himself as Nakamoto, and as the protocol bitcoin runs on is open-source and cannot be controlled by any one person, it is unclear whether he would be able to influence the way it develops. "I was the main part of it, other people helped me," Wright, who is now living in London, told the BBC. "Some people will believe, Some people won't, and to tell you the truth, I don't really care," he said. Many bitcoiners said Wright had not done enough to definitively prove that he was Nakamoto, who maintained his anonymity throughout his involvement with bitcoin, which he stepped away from in 2011. But Gavin Andresen, who Nakamoto chose to succeed him, published a blog post in which he described meeting Wright last month and said he is "convinced beyond a reasonable doubt" that the Australian is Nakamoto. Jon Matonis, a founding director of the Bitcoin Foundation now works as a bitcoin consultant, wrote a blog post on Monday which, like Andresen's, supported Wright's claims. "According to me, the proof is conclusive and I have no doubt that Craig Steven Wright is the person behind the Bitcoin technology, Nakamoto consensus, and the Satoshi Nakamoto name," Matonis wrote. He and Andresen also confirmed they had been responsible for their respective blog posts to Reuters directly. Story continues LEGACY Nakamoto's biggest likely legacy lies well beyond his control. The blockchain technology that underpins the currency could transform the way banks settle transactions, the way that property rights and other vital data are recorded, and provide a way for central banks to issue their own digital currencies. The BBC reported on Monday that Wright gave some technical proof demonstrating that he had access to blocks of bitcoins known to have been created by bitcoin's creator. Researchers believe Nakamoto may be holding up to one million of the more than 15 million bitcoins currently in circulation, which would make the creator worth around $440 million. In a blog post also dated Monday, Wright posted an example of a signature used by Nakamoto and an explanation of how bitcoin transactions are verified and thanked all those who had supported the project from its inception. "This incredible community's passion and intellect and perseverance have taken my small contribution and nurtured it, enhanced it, breathed life into it," he wrote. However he did not state directly that he was Nakamoto. "Satoshi is dead," he said. "But this is only the beginning." Bitcoin expert Peter Van Valkenburgh, director of research at Washington, D.C.-based advocacy group Coin Center, said a new message cryptographically signed using the private key associated with the so-called Genesis block, the first ever "mined" would have been more convincing. The currency's "miners" are incentivised to process transactions every 10 minutes by a possible reward of bitcoins (25 currently), which is how new bitcoins are created. Wright also spoke with The Economist, but declined requests from the magazine to provide further proof that he was Nakamoto. His representatives told Reuters he would not be taking part in more media interviews for the time being. "Our conclusion is that Mr Wright could well be Mr Nakamoto, but that important questions remain," The Economist said. "Indeed, it may never be possible to establish beyond reasonable doubt who really created bitcoin." Hopes that bitcoin would become broadly used helped buoy its price to more than $1,000 in December 2013, when its market capitalisation was $13 billion compared with today's $7 billion. Wright told The Economist he would exchange bitcoin he owns slowly to avoid pushing down its price. HOME RAIDED In December, police raided Wright's Sydney home and office after Wired magazine named him as the probable creator of bitcoin and holder of hundreds of millions of dollars worth of the cryptocurrency. At the time he made no comment. The treatment of bitcoins for tax purposes in Australia has been the subject of considerable debate. The Australian Tax Office (ATO) ruled in December 2014 that cryptocurrency should be considered an asset, rather than a currency, for capital gains tax purposes. On Monday, the ATO said it had no comment while police were not immediately available for comment. If Wright is Nakamoto he "is now the leader of a movement", said Roberto Capodieci, a Singapore-based entrepreneur working on the blockchain, the technology underlying the currency. That movement ranges from libertarian enthusiasts to central banks experimenting with digital currencies, all of which pay homage in some way to Nakamoto's writings. (Additional reporting by Jeremy Wagstaff in Singapore, Matt Siegel in Sydney and Paul Sandle in London; Editing by Nick Macfie, Raju Gopalakrishnan and Philippa Fletcher) View comments || Traders: These 4 stocks could take off: A SpaceX rocket launch Friday had "Fast Money" traders debating which stocks could soon blast off. Mechel Trader Tim Seymour believes Russian mining company Mechel (: NULL) has upside following a sustained slide in the prices of many commodities. Its U.S.-listed stock has climbed nearly 12 percent this year but has still plunged about 38 percent in the past 12 months. KB Home Trader Steve Grasso touted shares of KB Home (NYSE: KBH) , which have risen 17 percent this year. He owns the stock, which he said could be a merger or acquisition target. Grasso noted he would use a $14 stop for the stock, which closed at about $14.50 on Friday. Market Vectors Gold Miners ETF Trader Guy Adami contended the Market Vectors Gold Miners ETF (NYSE Arca: GDX) — which has soared 56 percent this year — could climb even more. The fund has rallied this year along with gold futures, which are up about 17 percent. Deutsche Bank Trader Brian Kelly, on the other hand, said he would sell a stock that has failed to get off the ground. He noted he would stay away from Deutsche Bank (XETRA: DBK-DE) , which has lagged the broader market. The bank's U.S.-listed shares have plunged 34 percent this year. Disclosures: Tim Seymour Tim Seymour is long AAPL, AVP, BAC, BBRY, DO, EDC, EWZ, F, FCX, GM, GOOGL, GRMN, GE, GLNCY, INTC, LQD, MPEL, NKE, RACE, RAI, SINA, T, TWTR, UA, VALE, VZ, XOM. Tim's firm is long BABA, BIDU, CLF, EWZ, F, HD, KO, MCD, MPEL, NKE, PEP, PF, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, YHOO, short HYG, IWM, WYNN Steve Grasso Steve is Long AAPL, BA, BAC, CC, DD, DIS, DECK, EVGN, KBH, MJNA, MU, OLN, PFE, PHM, T, TWTR, GDX firm is long WYNN kids own EFA, EFG, EWJ, IJR, SPY Brian Kelly Brian Kelly is long BBRY, Bitcoin, GLD, GLD puts, 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 Guy Adami 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 || Banks, tech companies move on from bitcoin to blockchain: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - As a debate raged across the internet Monday over whether the mysterious founder of the bitcoin digital currency had finally been identified, executives at a major bitcoin conference in New York had a simple message: we've moved on. That's because bitcoin, the digital currency, has largely been supplanted by blockchain, the technology that underlies it, as the main interest of investors, technology companies and financial institutions. "If there is a 100 percent opportunity in the blockchain, bitcoin, or the currency, is only 1 percent of it," said Jerry Cuomo, vice president, Blockchain Technologies at International Business Machines Corp. "So there is a whole 99 percent that has broad applications across the broad industries." Over the past year numerous Wall Street firms, led by Goldman Sachs, have declared their commitment to pursuing blockchain as a potential revolutionary technology for tracking and clearing financial transactions. The blockchain technology works by creating permanent, public "ledgers" of all transactions that could potentially replace complicated clearing and settlement systems with one simple ledger. Still, bitcoin is by far the largest implementation of blockchain technology and there is considerable debate as to whether one can truly develop without the other. "Bitcoin is still the only blockchain-enabled, cross-border large scale, provable application that's actually in production," said Joseph Guastella, a principal at Deloitte Consulting in New York. "Bitcoin as a currency may not be as relevant as it was in many ways, but it actually is relevant as a proof case for the blockchain technology." Bitcoins are created through a "mining" process, in which specialized computers solve complex math problems in exchange for bitcoins. One bitcoin is equivalent to $444.75 late on Monday and trade on various exchanges around the world. But bitcoin transaction volume has been in decline over the past six months amid a bitter split over technical changes in the protocol that are needed to increase the capacity of the system that produces them. Because the cryptocurrency has no formal governance, it relies on a core group of developers for direction - and they are sharply divided over the changes. But that debate was of relatively little concern to the Blockchain enthusiasts gathered in New York. Australian tech entrepreneur Craig Wright identified himself on Monday as the creator of controversial digital currency bitcoin. "It's irrelevant because his announcement doesn't solve a problem or resolve a conflict," said Bharat Solanki, managing director at Cambrian Consulting in New York. "It probably helps to determine the origins of bitcoin but only for recognition," Solanki said. For Naoki Taniguchi, a global innovation expert at The Bank of Tokyo-Mitsubishi UFJ Ltd in San Francisco, he does not really care about who created bitcoin. "It's all about the blockchain," he said. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Jonathan Weber, Bernard Orr) || Japan looks to kickstart 'fintech' revolution: By Thomas Wilson TOKYO (Reuters) - A laggard in embracing the 'fintech', or financial technology, revolution, Japan is set to ease investment restrictions that could free up the flow of capital in an economy sitting on an estimated $9 trillion in individuals' cash deposits. Strict regulation, easy access to credit due to rock-bottom interest rates, and weak demand for innovative financial services from a risk-averse population that still prefers cash to credit cards, have strangled fintech's advance in Japan. Fintech ventures - usually start-ups leveraging technology from cloud data storage to smartphones to provide loans, insurance and payment services - raised $2.7 billion in China last year, and over $1.5 billion in India, according to CB Insights data. Ventures in the United States attracted investment of around $7.4 billion. In comparison, investment in Japanese ventures reached only around $44 million in the first nine months of 2015. Now, Japan's financial industry regulator hopes relaxed rules on investing in financial ventures, and a new system for regulating virtual currency exchanges will pass through parliament by May - a first step in kickstarting the fintech revolution in the world's third-biggest economy. "The law changes aren't a goal, but a first step," Norio Sato, a senior official at the Financial Services Authority (FSA), told Reuters. "Fintech will have a big impact on financial services." The changes, which will allow banks to buy stakes of up to 100 percent in non-finance-related firms, will free up Japan's three megabanks to enter into tie-ups with fintech ventures developing services including robotic investment advisory and blockchain, the decentralised ledger technology behind the bitcoin digital currency. Mitsubishi UFJ Financial Group, Mizuho Financial Group and Sumitomo Mitsui Financial Group have said they are eyeing such investments, having previously been restricted to holding stakes of only 5-15 percent in start-ups. Under pressure from weak loan demand, the megabanks see an opportunity to earn money through fintech, but are also aware of its potential to disrupt traditional business models. GAME CHANGER The unpromising fintech environment in Japan - which was blindsided by the high-profile collapse of the Mt. Gox bitcoin exchange in 2014 when hackers stole an estimated $650 million worth of the digital currency - has seen some entrepreneurs go overseas for funding. Junichi Horiguchi, co-founder and CEO of bitcoin service provider Zerobillbank Ltd, established his start-up in Tel Aviv last year to take advantage of Israel's advanced technology industry. Investment in fintech start-ups by global banks and tech giants including Barclays, Google and Facebook is far more common in Israel than in Japan, he said. "It's completely different over there," Horiguchi told Reuters. "Every month there are open innovation contests and (start-up) accelerator programmes." Sales at Japan's fintech start-ups could jump to over half a billion dollars by 2020 as the use of technology such as blockchain increases, Yano Research Institute said in a report. The new rules the FSA is promoting on virtual currency exchanges could make Japan one of the first countries to regulate bitcoin at a national level. "Japan hasn't previously been enthusiastic about fintech," said Sato. "But creating these rules this fast could gain the world's attention." Bitcoin entrepreneurs, often reliant on investment for growth, have called for clearer regulation and will welcome the latest changes, said Yuzo Kano, founder and CEO of bitcoin exchange bitFlyer Inc, and head of the Japan Authority for Digital Assets, a lobbying group. "The establishment of the law is extremely surprising," Kano said, referring to how quickly the FSA had drafted the law. "It's set to be very successful." ($1 = 112.95 yen) (Reporting by Thomas Wilson; Editing by Ian Geoghegan) [Random Sample of Social Media Buzz (last 60 days)] Bleutrade MARYJ/BTC: Last:฿0.00000495 Ask:฿0.00000749 Bid:฿0.00000388 High:฿0.00000495 Low:฿0.00000495 Vol.:฿0.00495000 / 1000.000000... || $415.41 at 06:31 UTC [24h Range: $413.75 - $417.00 Volume: 3295 BTC] || Current price: 416.26$ $BTCUSD $btc #bitcoin 2016-03-23 01:00:07 EDT || 1 KOBO = 0.00001299 BTC = 0.0055 USD = 1.0943 NGN = 0.0800 ZAR = 0.5565 KES #Kobocoin 2016-04-14 05:00 pic.twitter.com/54m0P1eKrb || 1 DOGE Price: Bter 0.00000055 BTC #doge #dogecoin 2016-03-17 00:31 pic.twitter.com/Q5IQfGlXYp || LIVE: Profit = $121.08 (6.52 %). BUY B4.81 @ $410.00 (#VirCurex). SELL @ $411.61 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org  || #RDD / #BTC on the exchanges: Cryptsy: Error Bittrex: 0.00000007 Average $2.9E-5 per #reddcoin 06:00:02 || 1 #bitcoin 1244.11 TL, 415 $, 369.98 €, GBP, 27225.00 RUR, 47029 ¥, CNH, CAD #btc || Current price: 289.6£ $BTCGBP $btc #bitcoin 2016-03-10 02:00:10 GMT || $416.90 at 08:15 UTC [24h Range: $414.00 - $416.99 Volume: 935 BTC]
Trend: no change || Prices: 459.60, 458.54, 458.55, 460.48, 450.89, 452.73, 454.77, 455.67, 455.67, 457.57
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 2015-12-18] BTC Price: 463.62, BTC RSI: 72.61 Gold Price: 1066.20, Gold RSI: 45.05 Oil Price: 34.73, Oil RSI: 29.98 [Random Sample of News (last 60 days)] Bitcoin is back, JPMorgan and Wells Fargo restrict data: U.S. stocks (^GSPC,^DJI,^IXIC) are lower for the second straight day. Is the autumn rally at risk here?  Either way the next big catalyst for the market could come as early as 8:30am ET Friday when the October jobs report is released. Get the Latest Market Data and News with the Yahoo Finance App In the meantime, here are some other stories Yahoo Finance is keeping an eye on today. Big banks vs. personal finance websitesJPMorgan (JPM) and Wells Fargo (WFC) seem to be restricting some customer data from flowing to third party websites and apps likeMint.com. The products are used by many to help track their finances. JPMorgan chief Jamie Dimon has made his concerns known, pointing out that these products require customers to hand over a lot of personal information. Bitcoin is making a comebackBitcoin is making a comeback. The price of the digital currency has surged more than 50% this week, partly fueled by the EU's classification of bitcoin as a currency and not a commodity. Can it avoid another big sell-off? Turning point for streaming musicAdele's new single "Hello" has already brought in record sales, with over a million downloads. Now the big question is whether she will release her full album on streaming platforms. With the scheduled debut of her album "25" in two weeks, services including Apple Music (AAPL) and Spotify are still waiting to find out if they can play the rest of her new songs. || Paris Attacks Weigh On Bitcoin: EU officials are set to gather in Brussels in order to discuss the Paris attacks and ways to prevent similar situations from occurring in the future. One of the topics on the table for discussion is expected to be bitcoin and its potential to be used as a finance tool for terrorists. The recent crisis in Paris has shined a spotlight on some of the issues that bitcoin has been facing as it becomes a more and more popular tool to conduct financial transactions on the web. While bitcoin enthusiasts say the cryptocurrency's ability to send payments anonymously without a third party intermediary is an important part of its appeal, others believe that bitcoin could be contributing to terror plots and should be more tightly regulated. Related Link: Lasting Market Impacts From The Paris Attacks Trust Issues Bitcoin has long suffered from trust issues as the cryptocurrency has been portrayed as a tool for criminals after an underground marketplace dealing in illegal and illicit bitcoin transactions was exposed last year. The marketplace, called Silk Road, is what some say is only the beginning of the damage that bitcoin can do. Because making transactions with bitcoin can protect the buyer and seller's identities, criminals are better able to solicit and pay for illegal goods and services online. The same, many believe, is true for terrorists. Bitcoin gives them an avenue to send and receive funds undetected as there is no third party intermediary monitoring and verifying those payments. Regulation Could Break Bitcoin However, on the other side of the coin, bitcoin supporters say that too much regulation would eliminate bitcoin's purpose all together. The electronic currency was meant to operate outside of traditional finance in order to make sending money across boarders faster and easier. They argue that placing strict regulations on bitcoin would disrupt the currency's decentralized nature and undo all of the progress that bitcoin technology has made. Related Link: Ben Bernanke Sees Serious Problems With Bitcoin What To Do It is unclear how regulators plan to monitor bitcoin transactions and whether or not their efforts would be successful in thwarting terror plots. Bitcoin isn't the only payment scheme that is believed to be involved in terrorist planning operations either; pre-paid debit cards purchased from stores may also be a threat as they similarly don't require any kind of verification to be used for online payments. See more from Benzinga • 9 IPOs That Fell Flat On Wall Street • 9 Ways To Make Your Retirement Savings Stretch Further • 9 Investment Options For Traders Looking To Add Europe To Their Portfolio © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || New York exchange itBit says won 5 blocks of U.S. bitcoin auction: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - New York-based bitcoin exchange itBit said on Monday it won five blocks of the digital currency at last week's auction conducted by the U.S. Marshals Service. The bid by itBit was organized on behalf of a syndicate of the exchange's and over-the-counter trading clients, said Bobby Cho, director of trading at itBit, in an email to Reuters. The five blocks of the virtual currency may have added up to at least 10,000 bitcoins. Cho declined to make further comments. Last week's auction included 21 blocks of 2,000 bitcoins and one block of over 2,341. The U.S. government on Thursday held its final auction of bitcoins seized during the prosecution of the creator of Silk Road, an online black market where the virtual currency could be used to buy illegal drugs and other goods. It auctioned 44,341 bitcoins last week. When contacted for comment, the U.S. Marshals Service said it was not anticipating further announcements on Monday. itBit also won part of the U.S. government's auction in March, nabbing 3,000 of the 50,000 bitcoins auctioned. In May, itBit became the first virtual currency company to receive a charter to operate as a trust company in the state of New York. Meanwhile, Genesis Global Trading, a unit of Digital Currency Group founded by prominent bitcoin investor Barry Silbert, was informed by the U.S. Marshals Service that the company did not win any of the blocks up for auction, the company's chief executive officer, Brendan O'Connor, said in an email to Reuters on Monday. In late trading on Monday, bitcoin was trading up 1.8 percent on the day at $379.27 on the BitStamp platform. That put the value of the 44,341 bitcoins auctioned at about $16.8 million. Bitcoins are used as a vehicle for moving money around the world quickly and anonymously via the Web without the need for third-party verification. Last Thursday's auction drew just 11 registered bidders and 30 bids, a decline from the March sale, which attracted 34 bids from 14 registered bidders. (Reporting by Gertrude Chavez-Dreyfuss; Additional reporting by Nate Raymond; Editing by Diane Craft and Jonathan Oatis) || Bitcoin is off to the races again: (REUTERS/Bogdan Cristel)Rotariu uses Romania's first bitcoin ATM in downtown Bucharest The value of bitcoin has rocketed higher since late August, gaining more than 60% as investors around the worldclamor to buy into the cryptocurrency. It recently hit new highs for the year. Long-term bitcoin watchers have seen this happen before, and they know that bitcoin rallies can be huge. The last time bitcoin's value began soaring the cryptocurrency went from below $200 in September 2013 to more than $1100 by early 2014. Right now – after the recent gains – bitcoin is trading at around $380. That's right, after that peak last year, bitcoin crashed – badly damaging investor interest. It took more than a year for that interest to return. So what's bringing people back? The digital currency is gaining traction both in the consumer marketplace, as a tradeable security, and with regulators. To illustrate - you can donate to theAmerican Red Crossin bitcoin, buy a new personal computer with it, or even book a holiday. It isn't just digital-currency enthusiasts that are bullish. Equity research firm Wedbush expects it to rise to $600 because of the growing adoption. That target includes a "high discount rate to account for uncertainty," the firm says in a Nov. 4 research note. In other words, there is a lot of risk here, but even factoring that in, the potential exists for a big gain. “We’re crossing the chasm from early enthusiasts to mainstream adoption," says Adam White, a vice president of business development with bitcoin exchange Coinbase. (Wedbush Securities)Payments with bitcoin have been on the rise — as has the value of bitcoin, as an investment. As more people use bitcoin, retailers have become increasingly welcoming of it. Companies including Dish, Microsoft, Dell and Expedia are accepting cryptocurrency as payment. Perhaps most crucial: payments startups and legacy players including Square, Stripe, and PayPal are integrating it into their offerings. Regulators in the US and internationally are embracing bitcoin now, instead of fearing — or, worse still, thwarting — it. "What there needs to be is greater regulatory clarity," said Jerry Brito, executive director at Washington-based advocacy group Coin Center. "It's a very different world than it was in 2013." Bitcoin legislation is being readied in several US states, Brito said. In October, a consortium of startupsannounced the establishmentof theBlockchain Alliance, a partnership between bitcoin companies and US and foreign agencies including the Department of Justice, FBI and the Commodity Futures Trading Commission, among others. Last month, theEuropean Court of Justice said bitcoin transactions will be exemptedfrom a consumer tax, which could lead to even greater use of the cryptocurrency. Another big step, yet to come, would be the declaration of bitcoin by US regulators as a security. Another factor lending greater legitimacy to bitcoin is the investment capital being poured into related startups. Recently, the total dollar volume backing startups in the sectorcrossed the $1 billion threshold. But the investors behind the money have also increased bitcoin's visibility. The roster of bitcoin startup backersincludes Wall Street investment banks; the New York Stock Exchange and NASDAQ; andleading credit and debit card companiesincluding Visa, MasterCard and Capital One. "The global banks and wire-houses have meaningfully gotten involved in the space," said Michael Sonnenshein, director of business development and sales at Grayscale Investments,which manages the Bitcoin Investment Trust, a publicly listed vehicle that tracks bitcoin. "In 2013, they were beginning to dip their toe, but primarily behind closed doors and within internal working groups." There are still lingering issues surrounding bitcoin's validity. To be sure, it is volatile and – because its loosely regulated – a draw for frauds and criminals. Some big names in the crytptocurrency community — perhaps most notably Blythe Masters, the CEO of Digital Asset Holdings — have been critical of bitcoin and say the underpinning blockchain technology is actually what's most sexy to Wall Street. But right now, to many investors, bitcoin is hot. And it could stay that way. NOW WATCH:Everyday phrases that even smart people say incorrectly More From Business Insider • The Money Of The Future Will Look More Like Bitcoin Than The Paper We Carry Around Today • Bitcoin hit a new high for 2015 • The Winklevoss twins tell us why they believe Bitcoin will come to dominate global finance || SEC Targets Connecticut Bitcoin Companies: The Securities and Exchange Commission on Tuesday charged two Connecticut-based Bitcoin mining companies and their founder with running a Ponzi scheme that defrauds investors. Homero Joshua Garza allegedly committed the fraud through two companies, one called GAW Miners and the other ZenMiner, by purporting to offer shares of a digital Bitcoin mining operation, according to the SEC’s complaint filed in federal court in Connecticut. The complaint describes “mining” for Bitcoin or other virtual currencies as applying computer power “to try to solve complex equations that verify a group of transactions in that virtual currency.” The first computer or collection of computers to solve an equation is awarded new units of that virtual currency. Garza allegedly lied to investors about his companies’ ability to mine for Bitcoin. In a statement, the SEC said GAW Miners and ZenMiner in fact didn’t own enough computing power for the mining they promised to conduct, “so most investors paid for a share of computing power that never existed.” In classic Ponzi scheme form, returns paid to some investors came from proceeds generated from sales to other investors, according to the SEC. “As alleged in our complaint, Garza and his companies cloaked their scheme in technological sophistication and jargon, but the fraud was simple at its core: they sold what they did not own, misrepresented what they were selling, and robbed one investor to pay another,” said Paul G. Levenson, director of the SEC’s Boston Regional Office. The SEC’s complaint charges that from August 2014 to December 2014, Garza and his companies sold $20 million worth of purported shares in a digital mining contract they called a Hashlet. Investors were misled to believe they would share in returns earned by the Bitcoin mining activities when in reality Garza’s companies “directed little or no computing power toward any mining activity,” according to the SEC. Garza and his companies allegedly sold far more computing power than they actually owned and paid out daily returns collected from other investors rather than from currency derived from “mining” for currencies. Most Hashlet investors never recovered the full amount of their investments, and few made a profit, the SEC said. Related Articles • Wall Street Flat as Investors Await Yellen Speech • Oil Falls on Rising U.S. Stockpiles • The 10 Biggest Strikes in American History || 7 Of The World's Most Famous Corporate Rivalries: Cats and dogs, the Red Sox and the Yankees, Batman and the Joker— everyone loves a good rivalry, especially in America. Competition is a mainstay in the corporate world, and long-lasting competitive relationships have given rise to some of the fiercest rivalries on Wall Street. Most big name firms are battling some other business that is doing something similar, and part of that battle is openly criticizing their competitor before the public eye. Corporate rivalries are sometimes part of a marketing gimmick designed to keep a firm's name in the public eye, but others are the result of long-standing tension between CEOs or differing corporate cultures. From Coke versus Pepsi to Apple versus Microsoft, here's a look at some of Wall Street's most famous rivalries. Related Link:Report: Alibaba Is Not Interested In Yahoo's Core Internet Business Microsoft And Apple Perhaps the most famous tech rivalry belongs toMicrosoft Corporation(NASDAQ:MSFT) andApple Inc.(NASDAQ:AAPL). The two firms have been battling it out for the title of Better Brand Maker for more than three decades, accumulating thousands of loyal followers eager to stand up for their favorite products. Apple has long praised the benefits of design and simplicity, while Microsoft has painted Apple followers as hipsters who are overpaying to be part of a "cool" crowd. Whether you are loyal to the fruit or the PC, the rivalry has captured the attention of the public and created a buzz around both companies' latest products. Years of contention have been a driving force behind the marketing for the two companies, but this holiday season it seems they are in order to grab the attention of the masses. As part of Microsoft's holiday commercial, New York City-based Microsoft employees marched up Fifth Avenue alongside a choir singing "Let There Be Peace on Earth" to Apple's NYC location, where the employees from both firms openly embraced. It remains to be seen whether the truce between the two will last longer than this season's Christmas trees, but for now it appears that the two will ring in the New Year side by side. Coca-Cola And Pepsi The Coca-Cola Co(NYSE:KO) andPepsiCo, Inc.(NYSE:PEP) have been at odds since 1975, when Pepsi first unveiled the "Pepsi Challenge." Pepsi invited consumers to take part in blind taste tests in which they identified whether they preferred the taste of Pepsi or Coke. The battle has escalated over the years, with each firm taking a stab at the other in TV commercials, social media campaigns and through sponsorship deals. Coca-Cola's FIFA World Cup sponsorship has been under threat from Pepsi for years, with the rival firm taking over some of the hype Coke enjoys by launching its own marketing campaigns alongside the tournament. The rivalry even made its way to space; both firms sent special cans designed for zero gravity into orbit on the Space Shuttle Challenger in 1985. The two have also shared some tender moments as well. In 2009, the two firms agreed to follow one another on Twitter at the of creative agency Amnesia Razorfish. Related Link:"Share A Coke" Returns For The Holidays Ford And General Motors American automakersFord Motor Company(NYSE:F) andGeneral Motors Company(NYSE:GM) have been on opposing sides of the industry for more than 100 years. While the two put their long-standing feud on pause during the Financial Crisis when the auto industry was approaching rock bottom, they have since picked up where they left off trying to gain marketshare from each other. Ford famously took stabs at GM's government bailout in its advertisements once the automaker got back on its feet following bankruptcy. Ford CEO Mike Farley was also as saying "F— GM. I hate them and their company and what they stand for." GM Chief Executive Dan Aversion also spoke out about Ford's Lincoln brand in 2011 saying, "They are trying like hell to resurrect Lincoln. Well, I might as well tell you, you might as well sprinkle holy water. It's over." More recently, GM released a series of depicting Ford's latest pickup trucks as being weaker than GM's offerings because they are made from aluminum rather than steel. Nike Inc. And Reebok Athletic apparel makersNike Inc(NYSE:NKE) and have been battling for the title of Best Shoe Maker for decades. Both company's original products were vastly different, with Nike selling imported running shoes and Reebok marketing white leather women's running shoes designed for joggers. However, the two eventually began to battle for marketshare with celebrity campaigns designed to make athletic apparel more appealing as a fashion statement. Nike signed basketball superstar Michael Jordan, to which Reebok responded by using Shaquille O'Neal as a spokesman. The two firms continued to fuel their rivalry by supporting competing athletes, with Nike even $25,000 to figure skater Tonya Harding's defense fund when she was accused of attacking her Reebok sponsored competitor, Nancy Kerrigan. McDonald's And Burger King Fast food chainsMcDonald's Corporation(NYSE:MCD) andRestaurant Brands International Inc(NYSE:QSR)'s Burger King have become natural enemies, as both restaurants promise similar experiences to their customers. The two have been at each other's throats for years, with competing advertising campaigns and similar product offerings. In 2014, Burger King revived its "Burger Wars" campaign by introducing its own versions of McDonald's Big Mac and McRib sandwiches. Related Link:Sozzi Reviews Saucy McDonald's Under Eastbrook's Management More recently, Burger King called on McDonald's for a truce, asking the golden arches to collaborate on a McWhopper, which would include elements from both the Big Mac and the Whopper. Burger King opted to pitch this idea to McDonald's via an open letter, saying that the McWhopper would be a good way to call attention to Peace One Day, an organization working to recognize September 21 as an International Day Of Peace. However, McDonald's by saying that their rivalry is "certainly not the unequaled circumstances of the real pain and suffering of war" and slammed the King for what McDonald's believed was a publicity stunt. Budweiser And Miller The world's largest beer makerAnheuser Busch Inbev SA (ADR)(NYSE:BUD) and its largest competitor,SABMiller plc (ADR)(OTC:SBMRY), have been locked in a booze rivalry for years. Both firms have launched comprehensive marketing campaigns taking aim at the quality and taste of each other's products, with the bitter back-and-forth even prompting the two to battle it out in court. However, that rivalry could soon become a major beer superpower as SABMiller recently Anheuser Busch's $105 billion takeover offer. While the deal still faces a barrage of regulatory concerns, its completion would put an end to the longstanding feud between Miller and Bud, instead uniting the two to create the world's largest beer maker. Anheuser Busch has said that the deal will provide the firm with exposure around the world and will give consumers more choice. However, some say that the merger could be dangerous for the industry, as it creates a force with which will be difficult to compete. Netflix And Blockbuster Video rental chain Blockbuster appeared to have the market cornered just 10 years ago, but when video-rental-by-mail serviceNetflix, Inc(NASDAQ:NFLX) appeared on the scene, the two squared off for battle. When Netflix's service began to threaten Blockbuster's customer base, the company launched Blockbuster Online, to little success. In 2005, Blockbuster tried to undercut Netflix's prices, to which Netflix CEO Reed Hastings responded by saying the company was throwing everything but the kitchen sink at the startup. Related Link:Netflix Rips To New All-Time High Of 1.35 In a show of defiance, Blockbuster's then CEO John Antioco Hastings an actual kitchen sink the following day. However, despite Antioco's best efforts, Netflix upended the traditional video-rental business and Blockbuster eventually filed for bankruptcy protection and was acquired byDISH Network Corp(NASDAQ:DISH). Image Credit: See more from Benzinga • 5 Things To Consider When Preparing For A Santa Claus Rally • Bitcoin Seeks To Right Music-Industry Wrongs • 6 Ways Blockchain Could Change The World © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 6 Ways Blockchain Could Change The World: Cryptocurrencies like bitcoin have seen a drop in enthusiasm over the past year as more people have become wary toward the currencies. A spate of high profile scams and illegal transactions that involved bitcoin painted the cryptocurrency as a tool for criminals and an unsafe avenue with which to move money. While bitcoin enthusiasts continue to rework the currency's image in order to gain mainstream approval, others say the coin itself isn't what the world should be focused on. Blockchain, the ledger-like technology that bitcoin runs on, has instead emerged as one of the most important technological advancements from the past decade. Blockchain's ability to facilitate transactions seamlessly without a third party intermediary has been driving bitcoin's popularity over the past few years. Related Link:Ben Bernanke Sees Serious Problems With Bitcoin While the system was developed in order to easily transfer bitcoins from party to party, many believe that supporting a bitcoin market is one of many uses blockchain could have in the future. Some analysts believe that blockchain could significantly change the way that the financial system operates, overhauling everything from banks to exchanges. Others say the financial space is just the starting point for blockchain; the technology could be applicable to a wide range of industries and activities as it becomes more and more advanced. Here's a look at 6 ways blockchain may be seen in the future. 1. Banks One of the first places blockchain is likely to turn up is at banks. As bitcoin threatened to disrupt the traditional finance system, many big banks created dedicated teams to study the cryptocurrency and experiment with its use. While the majority of banks are still wary of bitcoin itself, many have become increasingly interested in how bitcoin might improve their operations. So far, the best use-case for blockchain within a bank has been to . At the moment, sending money from one country to another requires a great deal of time and administration, but using blockchain to run those payments could change that. For one, the system would likely make such transactions cheaper by eliminating the need for a middleman. Not only that, but blockchain would also speed up processing, a benefit to both banks and customers. Related Link:Trading Bitcoin Binary Options 2. Exchanges Blockchain has also been touted as a viable way to run an exchange. Using a ledger like blockchain would make trade data much more accurate by conducting the trades on a peer-to-peer basis. Applying this technology to an exchange would cut down on the need for supervisors, a cost-saving measure that would also reduce the instances of human error. Not only that, but a blockchain-run exchange would also speed up transaction times, allowing traders to see real-time results when their trades are placed. Nasdaq Inc(NASDAQ:NDAQ) has already begun for a blockchain-based exchange; the company has partnered with Chain, a blockchain infrastructure provider, to work on integrating blockchain into the exchange's operations. While blockchain may be a good way to overhaul U.S. exchanges, many worry about technological problems that might arise, especially after several mishaps delayed trading on U.S. exchanges this year. 3. Legal Contracts The legal space could also be turned on its head by blockchain, as the ledger has been suggested as a way to facilitate contracts. Dubbed "smart contracts," blockchain-supported contracts would be able to essentially enforce themselves without the need for a third party. Computer programs would be able to set conditions laid out in a contract and when they were satisfied, the next part of the contract would be released. That means contractual obligations could be easier to enforce, as they would be automated and security surrounding such transactions would be enhanced. One example would be the ability for a customer to pay for a package at the moment it was delivered.International Business Machines Corp.(NYSE:IBM) has a dedicated research team to investigate the possibility of creating smart contracts. The firm believes that such a system would enhance privacy for participating businesses and ensure that required conditions are met. 4. Politics This year was the first year that a presidential candidate accepted bitcoin donations for their campaign, but many believe that blockchain will truly revolutionize politics in the years to come. Voting has always been a hot topic among the U.S. public; each election ends with questions about accuracy and efficiency, as well as calls to reform the system and update the technology used. Blockchain supporters say that the ledger bitcoin runs on could the voting process by making it more secure. In such a voting system, blockchain would store each vote with an encrypted hash. These encryptions are exceedingly difficult to break and would require a hacker with an impossible amount of computer power in order to change just one vote without being noticed. The Liberal Alliance, a political party in Denmark, has already to run its internal voting system using blockchain, making it the first political group in the world to integrate blockchain into its voting practices. Related Link:Paris Attacks Weigh On Bitcoin 5. Microtransactions Companies likeNetflix, Inc.(NASDAQ:NFLX) have revolutionized the way people view content by disrupting traditional cable broadcasters and pushing more people to watch TV and movies online. However, subscription services like that one may be under fire in the coming years if blockchain is used to facilitate . This type of system would allow users to pay per minute, or per show in a pay-as-you-go manner. Such payment systems could benefit both customers and content providers, as it gives a more realistic view of what people are actually using. Subscription bundles often result in a great deal of unused services, which customers may be overpaying for. On the flip side, cheaper bundles or less complex bundled options could sway customers away from one subscription service to another, but a pay-as-you-go option allows customers to view and pay for exactly what they want. 5. Tipping Another way micropayments might enhance online content is through a tipping service. Allowing users to "tip" for particularly entertaining or insightful social media posts or blogs would diminish the need for online advertising and give content creators a new source of income. Many believe that such a system would improve the quality of online content and help eliminate some of the spam that circulates throughout the Internet. This kind of system would also be facilitated through blockchain, and many believe that a cryptocurrency like bitcoin would make such a tipping scheme possible. 6. Music The music industry has been alight with debates over whether artists are being fairly compensated for the value of their work. Many believe that big name labels likeSonyare unfairly negotiating royalty fees with music distributors in a way that doesn't deliver that value back to the content creators themselves. However, with the help of blockchain, some say the music industry could shift to a more artist-driven model in which blockchain makes artists' contracts more transparent, thus eliminating arguments over how royalties are distributed when their label makes a deal with a firm like Spotify. In 2016, a company called is planning to work together with music companies and artists to see how blockchain-supported infrastructure might improve the way business is conducted within the industry. Image Credit: See more from Benzinga • Can Subscription Services Take Over The Movies As Well? • Is The Video Subscription Space Saturated? © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Match and Square trade, Pepsi invades Empire, and Europeans prepare to fight ISIS: Two more unicorns leave the stable today. Both Square ( SQ ) and Match Group ( MTCH ) priced a bit lower than expected but hit the tickers this morning, trading solidly higher. Other than that, it's a relatively quiet day in the markets ( ^DJI , ^GSPC , ^IXIC ) . Get the Latest Market Data and News with the Yahoo Finance App Here are some of the other stories Yahoo Finance is keeping an eye on today. Are Europeans prepared to battle ISIS? ISIS recently claimed responsibility for three major terrorist attacks, including those in Paris last week. As the threat of ISIS stretches well beyond Iraq and Syria, it's not clear if European powers will have the military strength to fight ISIS abroad. Yahoo's Rick Newman gives a special report. Pepsi invades Empire Taking product placement to a whole new level, Pepsi ( PEP ) just struck a deal with Fox to make the beverage giant an integral part of three episodes of the hit show Empire. Is this part of a larger trend in an ad-averse world? Frequent flyer miles for Wi-Fi Move over Bitcoins, frequent flyer miles might just be the new currency du jour. United ( UAL ) will soon let you spend your miles on Wi-Fi access on its flights. The move is part of an image campaign that's focusing on improving travelers' experiences instead of trying to shake a few more dollars out of flyers. || Bitcoin to be major reserve currency by 2030: Research: Bitcoin(: BTC=)industry insiders have issued an optimistic prediction for the cryptocurrency over the next few decades, suggesting it could be as widely used as the Swiss franc or the Australian dollar. U.K.-based Magister Advisors, which advises the technology industry on mergers and acquisitions, interviewed thirty of the leading bitcoin companies from across the globe. It found a consensus view that bitcoin will become the sixth largest global reserve currency within 15 years. A reserve currency is a currency that is held in large amounts by governments and institutions as part of their foreign exchange reserves, with the U.S. dollar(Intercontinental Exchange US: .DXY)currently being the most popular. Bitcoin is a virtual currency that allows users to exchange online credits for goods and services. It was trading at $374 on Tuesday morning, just off its year-to-date high, according to industry websiteCoinDesk. However, many observers believe the real value of the cryptocurrency lies in the technology behind the coin known as the blockchain, a public and transparent ledger of all bitcoin transactions. The survey found that an estimated $1 billion will be spent by the top 100 financial institutions on blockchain-related projects over the next 24 months. Jeremy Millar, partner at Magister Advisors who led the research, said that the blockchain was the most significant advancement in enterprise IT in the last decade. "We have now reached a fork in the road with bitcoin and blockchain. Bitcoin has proven itself as an established currency. Blockchain, more fundamentally, will become the default global standard distributed ledger for financial transactions," he predicted in an accompanying press release on Tuesday morning. In September, 13 of the world's leading banks joined a project to explore the possibilities behind using a type of distributed ledger in the mainstream financial world. Institutions like Bank of America, Citi and Deutsche Bank joined others like Goldman Sachs and J.P. Morgan which had already signed up. For many, it's the ledger that shows the real promise while the cryptocurrency itself is seen by some as having more of a shelf life. Aside from financials, the public ledger has a host of other useful applications. Pantera Capital in the U.S. is investing in a firm that is using the technology to help detect counterfeiting in the luxury goods industry. Simon Derrick, chief currency strategist at BNY Mellon, told CNBC via email Tuesday that he suspects the interesting part to the bitcoin story will be the underlying technology and whether it facilitates the introduction of truly digital currencies. Bitcoin is also renowned for its volatility and has been heavily criticized for facilitating illegal activity, given that it can be used anonymously. Jeffrey Robinson, the author of "BitCon: The Naked Truth about Bitcoin" is one such notable critic. He has told CNBC previously that he believes it is a "pretend currency masquerading as a pretend commodity" and says bitcoin advocates are akin to "snake oil salesmen." The report by Magister Advisors on Tuesday directly tackled this issue of volatility. It said that the primary usage of bitcoin today in developed markets was for speculation. The survey's respondents estimated that 90 percent of bitcoin by value is being held for speculation, not for commercial transactions. More From CNBC • Top News and Analysis • Latest News Video • Personal Finance || Not in Your Grandma’s Wallet: Bitcoin Redefining Money: Will Bitcoin replace paper money? During an interview on the FOX Business Network’s Mornings With Maria ,Digital Currency Group CEO Barry Silbert, who’s considered the most active investor in Bitcoin companies, said: “[Bitcoin] it’s going to change the way that people send money, spend money -- even think about money. It’s kind of redefining what is money.” As an investor of companies in over 20 countries, he sees the most Bitcoin action in places where people use mobile devices for transactions. “We are seeing dramatic adoption in places like Kenya, Argentina, Brazil, South Africa -- places where people have mobile devices, but they don’t have bank accounts,” he said. He also discussed how regulation is impacting the digital currency. “[Regulators] are certainly paying attention… I used to think that regulation was Bitcoin’s biggest threat -- I actually think it’s the biggest opportunity now… Running a bank, operating a bank -- you cannot be innovative. You can’t think outside the box. You can’t do anything creative. Whereas you have hundreds of thousands of startups around the world that are looking to, again, kind of disintermediate… It is really going to eat banks alive.” With only $5B in market cap, Silbert believes Bitcoin’s technology is very valuable. “I’ll be the first to admit that Bitcoin as a digital currency is either going to be worth zero or it’s going to be worth a whole lot more money than it is today… it’s a very, very, risky investment. But this ecosystem is amazing that’s being built. There’s been a billion dollars in investment by venture capital in this industry so far.” He also discussed how the financial services industry will change in the next 5 to 10 years. “The definition of a bank is going to change. Banks are being disintermediated -- they are being attacked from every different angle… from startups, all the way up to different types of approaches, to finance like Bitcoin.” Related Articles • SEC Targets Connecticut Bitcoin Companies • 3 Reasons Its Dumb to Take Social Security Benefits at 70 • Oil Plunge Raises Fears of Societal Unrest [Random Sample of Social Media Buzz (last 60 days)] In the last 10 mins, there were arb opps spanning 19 exchange pair(s), yielding profits ranging between $0.00 and $965.63 #bitcoin #btc || LIVE: Profit = $223.33 (7.16 %). BUY B8.10 @ $410.00 (#VirCurex). SELL @ $412.70 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org  || One Bitcoin now worth $325.29@bitstamp. High $326.49. Low $316.00. Market Cap $ 4.841 Billion #bitcoin pic.twitter.com/OWsk73m0HL || BTCTurk 1231.4 TL BTCe 418.157 $ CampBx $ BitStamp 422.00 $ Cavirtex 574.98 $ CEXIO 432 $ Bitcoin.de 368.74 € #Bitcoin #btc || LIVE: Profit = $797.38 (9.42 %). BUY B20.56 @ $420.00 (#VirCurex). SELL @ $450.80 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org  || LIVE: Profit = $301.55 (3.32 %). BUY B24.32 @ $372.65 (#BTCe). SELL @ $376.00 (#HitBTC) #bitcoin #btc - http://www.projectcoin.org  || 1 #bitcoin = $4850.00 MXN | $292.23 USD #BitAPeso 1 USD = 16.6MXN http://www.bitapeso.com  || LIVE: Profit = $1,437.94 (0.76 %). BUY B629.16 @ $300.00 (#BTCe). SELL @ $301.89 (#Bitfinex) #bitcoin #btc - … pic.twitter.com/2WanDLPI2u || $308.00 at 04:00 UTC [24h Range: $302.99 - $329.75 Volume: 28487 BTC] || $319.00 at 12:45 UTC [24h Range: $302.99 - $326.98 Volume: 26819 BTC]
Trend: down || Prices: 462.32, 442.68, 438.64, 436.57, 442.40, 454.98, 455.65, 417.27, 422.82, 422.28
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 2015-07-24] BTC Price: 288.28, BTC RSI: 61.19 Gold Price: 1085.60, Gold RSI: 20.48 Oil Price: 48.14, Oil RSI: 24.95 [Random Sample of News (last 60 days)] The Future of Bitcoin; the Opportunity and Obstacles: POINT ROBERTS, WA and NEW YORK, NY--(Marketwired - June 04, 2015) -Investorideas.com, a global news source covering leading sectors including Bitcoin and payment technology releases commentary from some of the leading digital currency experts along with management from two public plays within the sector. As Wall Street and global financial markets enter the space, these experts give insight into the future of Bitcoin and the obstacles and the opportunities it presents. The following are questions and answers from the participating experts; Brian Kelly, author of the book "The Bitcoin Big Bang"www.briankellycapital.com, David Berger,Founder and CEO,Digital Currency Council (DCC), Mr. Brad Moynes, President of Bit-X Financial Corp. and Michael Sonnenshein, Director of Sales & Business Development, Bitcoin Investment Trust(OTCQX: GBTC). Interviews: Brian KellyQ: Investorideas.comYou have said you were a skeptic like many in the beginning and now you are a respected expert in the sector. With recent acceptance from The New York Stock Exchange, Nasdaq Stock Exchange, Goldman Sachs, Richard Branson and a list of new entries every day, what do you see as the turning point for Bitcoin becoming legitimate? A: Brian Kelly, author of the book "The Bitcoin Big Bang"It seems that financial institutions finally realized that Bitcoin and the blockchain is more than a currency. They realized it is a tool to flatten the costs of financial services. Q: Investorideas.comDo you see many publicly-traded stocks in play now and are you hearing of IPO's in the space? A: Brian Kelly, author of the book "The Bitcoin Big Bang"I would expect IPOs in the next 3 years. If we use internet companies in 1995 as a template, it took about three years for major IPOs. Q: Investorideas.comWith the major financial institutions now getting involved, where do you see Bitcoin headed in the next few years and how will it impact the future of currency? A: Brian Kelly, author of the book "The Bitcoin Big Bang"A year ago the survival of Bitcoin was 50/50...with recent investments it's clear that blockchain technology is here to stay. David BergerQ: Investorideas.comCan you give us background on the creation of the Digital Currency Council (DCC) and why you formed it? A: David Berger,Founder and CEO,Digital Currency Council (DCC)The early mission of The Digital Currency Council was to set a common standard of understanding amongst professionals and help those professionals achieve that standard. Today, our over 1500 members across 90 countries are using the knowledge they've gained to build various exciting businesses and streamline existing business processes. Our software is integral to these more complex efforts. Q: Investorideas.comWith a primary focus of education, what kind of individuals and companies are you seeing come forward to understand Bitcoin and what percentage of the financial community at large do you think is getting involved now? A: David Berger,Founder and CEO,Digital Currency Council (DCC)We are at the very beginning. Most individuals and firms have a very limited understanding. Our work with these individuals and firms begins with general competency training. These general competencies are sufficient to ensure that a firm is aware of the opportunities and risks. Our customized software solutions help those firms that recognize an opportunity to capitalize. Q: Investorideas.comWhat do you see as the primary obstacles to the acceptance of digital currency? A: David Berger,Founder and CEO,Digital Currency Council (DCC)It's important that we ensure that bad actors don't hijack this groundbreaking technology. The general public will accept and adopt technologies that make their lives better but only if they trust that the risk doesn't outweigh the benefit. Q: Investorideas.comWhat do you see for Bitcoin within the next year and over the next 5 years? A: David Berger,Founder and CEO,Digital Currency Council (DCC)The next five years will bring increased integration, complexity, and utility. Bitcoin will become so easy to use that you won't even realize you're using it. Brad MoynesQ: Investorideas.comWhat do you think was the turning point for making Wall Street and the financial institutions take notice and want to participate in Bitcoin? A: Mr. Brad Moynes, President of Bit-X Financial Corp.The opportunity to develop technology that could make financial institutions including stock exchanges, broker-dealers, banks, transfer agencies and the DTC more efficient and less costly to reporting issuers, investors and consumers would be considered by Wall Street as a really good thing. The fact that DNCT (blockchain) technology has the potential to achieve this and that many of these institutions have already invested considerable capital into the technology at the fastest rate to date, suggests that the turning point has already occurred. In addition, the recent announcement that the NYDFS has released the final version of its long-awaited regulatory framework for digital currency companies shall provide clarity to the industry as a whole and ease concern regarding over-regulation and the threat of stifling growth and innovation. Q: Investorideas.comWhat do you think are some of the hurdles and obstacles for Bitcoin? A: Mr. Brad Moynes, President of Bit-X Financial CorpPerhaps over regulation. Bitcoin appears to be holding its value at current levels and the Blockchain is gaining considerable awareness across a broad selection of industries. I would expect many hurdles & obstacles along the way but with big break-through ideas later this year and in 2016 to look forward to. Q: Investorideas.comWill your exchange, when launched, offer any educational tools for trading and investing in Bitcoin? What kind of investors/traders do you see currently in the space and do you see the demographics changing? A: Mr. Brad Moynes, President of Bit-X Financial Corp.The exchange will offer our users the tools they need to buy & sell crypto-currencies including Bitcoin. Our customer service will be the best in the business with rapid response time to meet user demands, answer questions and provide solutions. We will also have a Bitcoin forum for users to create various discussion topics. Generally these forums are an excellent way for users to gain information and educate among themselves. There are several investor/trader profiles which include day-traders, medium to long-term investors seeking capital gains and entities who offer investor's exposure to Bitcoin via open market equity-share purchases that tie their shares to an underlying asset [bitcoin] on a pre-determined ratio basis. A beneficial change to the demographic would be an increase in demand for bitcoin in day-to-day use and consumer point of sale purchases. Michael SonnensheinQ: Investorideas.comThe Bitcoin Investment Trust's shares are the first publicly quoted* securities solely invested in and deriving value from, the price of Bitcoin. Can you tell investors how investing in the shares of (GBTC) will give them a different value/investment opportunity than strictly trying to buy and sell Bitcoin? A: Michael Sonnenshein, Director of Sales & Business Development, Bitcoin Investment Trust (GBTC)Purchasing Bitcoin outright can be a harrowing experience for investors. More often than not, they don't know who to purchase Bitcoin from (are there counterparties they trust), what price they should pay, or how to handle Bitcoin safely and securely. Even if investors can overcome these challenges, storing Bitcoin on one's own can be a liability. If Bitcoin holders are hacked or lose the private key to their Bitcoin wallet, they have zero recourse. In sharp contrast to this experience, purchasing shares of The Bitcoin Investment Trust gives investors the ability to gain exposure to Bitcoin without the aforementioned challenges and through a titled security in the investor's name. Consequently, shares are eligible to be passed onto beneficiaries under estate laws and are eligible to be held in certain IRA, Roth IRA, and other brokerage and investment accounts (this is not possible with outright Bitcoin). The Bitcoin Investment Trust has also brought together credible service providers, as shares are marketed and distributed through a FINRA-registered broker-dealer, and the Trust's financial statements are audited annually by Ernst & Young LLP. Each share of The Bitcoin Investment Trust represents approximately 0.1 Bitcoin and shares are tied to a daily 4pm net asset value that is representative of the Bitcoin market price. Qualified accredited investors have the ability to purchase shares of The Bitcoin Investment Trust at the daily NAV through an ongoing private placement. However, these shares carry resale and transfer limitations. Both accredited and non-accredited investors have the ability to purchase shares of The Bitcoin Investment Trust on OTCQX under the symbol: GBTC. These shares have been deemed freely tradable and are subject to market-driven price movement, which does not reflect the restricted shares daily NAV. In offering these two avenues for investors, their Bitcoin exposure is able to sit alongside their existing investments and their exposure to Bitcoin is attained through a transparent and familiar experience. Additionally, as a titled security, The Bitcoin Investment Trust has resonated well with investors' financial advisors, lawyers, and accountants. More information on The Bitcoin Investment Trust is available through its sponsors website,www.grayscale.co Q: Investorideas.comWhere does the company see the Bitcoin industry now as Wall Street has begun to embrace it and what was the turning point that legitimatized Bitcoin? Where do they see the future of Bitcoin1-5 years from now? A: Michael Sonnenshein, Director of Sales & Business Development, Bitcoin Investment Trust(OTCQX: GBTC)Bitcoin is still in infancy and we'd liken where Bitcoin and digital currencies are in their development to the internet in the mid-to-late 1990's. Namely, just like there were plenty of naysayers who didn't believe in the internet's potential, there are folks who occupy that same mindset when it comes to Bitcoin. While we can't be sure of Bitcoin's ultimate fate, we can see is that there is an unprecedented amount of venture capital and human capital pouring into the space. Entrepreneurs are building the infrastructure and applications that will support Bitcoin's continued adoption and usage globally. Over the past two years, there has been increasing attention paid to Bitcoin from Wall Street. Every bank, broker-dealer, asset manager, and other institution had formed internal task forces assigned to understanding Bitcoin. Recently, many of these firms (and the work of these internal teams) have begun putting their reputations on the line by publicly getting involved in Bitcoin with the likes of Goldman Sachs, UBS, Nasdaq, the NYSE, and other globally recognized institutions integrating Bitcoin into their businesses and/or making strategic investments in some of the aforementioned companies laying the ground work for increased adoption. I think we will continue to see more of these large players get involved in the space over the coming years and that Bitcoin and the underlying blockchain technology will ultimately shake up and transform the entire financial services landscape for the better. Bios:Brian Kellywww.briankellycapital.comBrian Kelly is an investor, author, and financial markets commentator. He is an expert in global financial markets, macro-economics and digital currencies. Brian Kelly has over twenty years' experience in financial markets and is the author of the book "The Bitcoin Big Bang -- How Alternative Currencies are About to Change the World." Brian is a graduate of the University of Vermont where he received a B.S. in finance. He also holds an M.B.A. from Babson Graduate School of Business with a concentration in finance and econometrics. A passion for investments and entrepreneurship has led Brian to start several successful investment businesses. His most recent start-up BKCM LLC is a global investment management firm specializing in Global Macro and Currency investing. Prior to BKCM LLC, Brian was Co-Founder and Managing Partner of Shelter Harbor Capital LLC and managed the Shelter Harbor Capital Global Macro Hedge Fund. As well, Mr. Kelly was a co-founder and President of MKM Partners, a brokerage firm catering to institutional investment managers. Brian provides money management services to a select clientele and consults on digital currencies. David Berger,Founder and CEO,Digital Currency Council (DCC)David Berger is the Founder and CEO of The Digital Currency Council (DCC), the leading provider of digital currency-related training, certification, and continuing education. Mr. Berger is an attorney with extensive experience in finance in the United States and Asia. He has a passion for building professional networks that support members' advancement with actionable commercial insight. Prior to launching the DCC, Mr. Berger was the CEO of Americas at Campden Wealth, the parent company of the Institute for Private Investors -- the premier decision support network for ultra high net worth investors and family offices. Mr. Berger is also the founder of Private Investor Collective, a Hong Kong-based network for sophisticated private investors, and played a key role in the development of two network-based advisory firms for CEOs in Asia Pacific. He also founded Asia Executive Solutions, a Hong Kong-based strategy consulting firm, where his clients included SecondMarket, Corporate Executive Board, and NPD Group. Prior to his career in finance, Mr. Berger was an attorney in the Washington, DC office of the global law firm O'Melveny & Myers LLP, where he focused on securities law. Mr. Berger also spent two years at the United States Department of Justice. He is a graduate of New York University School of Law and Emory University. About BIT-X:Bit-X Financial Corp is a Vancouver; British Columbia based Company listed on the OTC.QB under the trading symbol BITXF. Bit-X Financial Corp is a reporting issuer in the Province of British Columbia, Canada with the British Columbia Securities Commission "BCSC" and in the United States with the Securities Exchange Commission "SEC."www.bitxfin.com About The Bitcoin Investment Trust(OTCQX: GBTC)The Bitcoin Investment Trust is a private, open-ended trust that is invested exclusively in Bitcoin and derives its value solely from the price of Bitcoin. It enables investors to gain exposure to the price movement of Bitcoin without the challenge of buying, storing, and safekeeping Bitcoins. The BIT's sponsor is Grayscale Investments, a wholly-owned subsidiary of Digital Currency Group. About Investorideas.comInvestorIdeas.com newswire is a global investor news source covering multiple sectors including Bitcoin and payment technology. Follow Investorideas.com on Twitterhttp://twitter.com/#!/InvestorideasFollow Investorideas.com on Facebookhttp://www.facebook.com/Investorideas Sign up for free news alerts at Investorideas.comhttp://www.investorideas.com/Resources/Newsletter.asp Disclaimer/ Disclosure: The Investorideas.com newswire is a third party publisher of news and research as well as creates original content as a news source. Original content created by investorideas is protected by copyright laws other than syndication rights. Investorideas is a news source on Google news syndication partners. Our site does not make recommendations for purchases or sale of stocks or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated by featured companies, news submissions, content marketing and online advertising. Contact each company directly for press release questions. Disclosure is posted on each release if required but otherwise the news was not compensated for and is published for the sole interest of our readers. Disclosure: BITXF is a PR client of Investorideas.com and compensates us for news publication, PR and media. (two thousand five hundred per month and 144 shares ) More info:http://www.investorideas.com/About/News/Clientspecifics.aspandhttp://www.investorideas.com/About/Disclaimer.asp BC Residents and Investor Disclaimer : Effective September 15 2008 -- all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info:http://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country. || Could Bitcoin Save Athens?: After the International Monetary Fund turned its back on debt negotiations with Greece on Thursday, many began to worry that the nation's efforts to appease creditors while reversing austerity cuts would prove to be fruitless. With a €1.5 billion payment due at the end of this month, Greece is running out of time to release the bailout funding it needs to stay afloat. Digital Currency To The Rescue? Greek Finance Minister Yanis Varoufakis jokingly tweeted that the nation would adopt bitcoin if no deal was made on April Fool's day; but two-and-a-half months later with no agreement made, some analysts say that a cryptocurrency could be a viable solution . Digi-Drachma Some believe that Greece could create a digital currency backed by the nation's assets which would be used to maintain public sector salaries and pensions. The currency, dubbed "digi-drachma" would free up the nation's remaining euros for loan repayments and allow Athens to continue functioning without making any more unpopular austerity cuts. Related Link: Greek Banks Struggle To Handle Deposit Outflows With Default Fears Rising ECB Considers The Possibility During debt negotiations, the European Central Bank considered a similar situation in which the nation paid its workers using IOUs. This idea was parallel to the one Varoufakis outlined in his April Fool's blog post; he said a digital currency, called FT coin, could be based on future tax revenue. Just A Band-Aid? The digital currency scenario might get Athens through its next loan repayment, but many say it would be a temporary fix for the nation's larger problem— debt. Greece's economy has been unable to sustain the nation's massive debt, so without some kind of reform, this problem is likely to repeat itself. This has been the issue at the center of the nation's bailout talks as eurozone creditors want to see Greece stand on its own rather than leaning on bailout money in the years to come. See more from Benzinga Net Neutrality Rules Go Into Effect Today: Here's How It Could Affect You Will E-Cigarettes Replace Traditional Cigarettes? Greek Banks Struggle To Handle Deposit Outflows With Default Fears Rising © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Despite Warnings About A Grexit, Investors Remain Calm: With Greece and its EU creditors still trying to work out the details of an agreement to release the nation's bailout funds just days before Athens is due to make loan repayments, policymakers in other parts of the world are beginning to worry that a Greek exit from the eurozone is becoming a real possibility. However, warnings from the U.S. and Canada have done little to upset investors, who appear to firmly believe that the two sides will reach a deal in the 11th hour. Concern Abroad On Wednesday, US Treasury Chief Jacob Lew warned EU lawmakers that a Greek exit from the currency union would be devastating to global financial markets. Lew appeared worried that European policy makers were complacent now that stability has returned to the region, and he cautioned that a crisis in Greece would almost certainly upset the balance in the region. Related Link: Will Spain Become The Next Greece? Canadian Finance Minister Joe Oliver reiterated Lew's remarks, saying that Greece may be small, but the ripple effect of a Greek crisis would be massive. Lew and Oliver are heading to a Group of Seven meeting in Germany on Thursday, where Greek financial troubles will undoubtedly be a part of the discussion. Investors Believe Resolution Is In Sight Despite the tension surrounding Greek debt talks, investors have kept their calm. A Sentix survey of 1,000 investors showed that only 41 percent believe a Grexit is imminent. That figure, though still high, marks a decline from the 49 percent who saw Greece leaving the euro in April. Although the debt talks have dragged on longer than anticipated, rhetoric from both sides suggest that there is a commitment to keeping Greece inside the eurozone, which has given investors confidence that the deal will be completed before Athens defaults. Image Credit: Public Domain See more from Benzinga Should The UK Regulate Bitcoin Wallets? Federal Government Reminds Workers That Marijuana Is Still Off Limits Entrepreneurs Got Their Groove Back In 2014 © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments || Nuclear Bunker Data Center To Partner With BitShares: Debert, NS Canada / ACCESSWIRE / July 10, 2015 / Data Security Node Inc. (DSN) is a 64,000 sq/ft nuclear bunker data center located in Nova Scotia, Canada. DSN provides hosted services and unique value added offerings, and is announcing a partnership with Bitshares, a one of a kind decentralized smart contract platform. Together, they are introducing a number of crypto-asset driven solutions to help usher in a new age of financial freedom and transparency. Jonathan Baha’i, President of Data Security Node , explains, "We have come to a place, technologically, where a revolution is about to happen at all levels of society - thanks to a new breed of blockchain driven technologies. BitShares 2.0 is at the crest of this movement, and we are absolutely thrilled to be joining forces with them." The new partnership comes by way of a service offering from DSN called BunkerDEX which enables the exchange of crypto assets between multiple blockchains. Through the BitShares network, customers will be able to exchange virtual assets of all kinds, from popular crypto currencies like Bitcoin, to SmartCoins that hold the value of Dollars and Euro , to alternative banking solutions like bill and payment services that provide lower fees and less risk than most brick-and-mortar banks. "BunkerDEX will be the foundation for several offerings that connect to services from our bunker," Jonathan continues, "such as BunkerMining, The Canadian Rewards Debit, and S.A.F.E. (Synchronized Asset Futures Engine). We have some pretty amazing tools to work with now, thanks to the BitShares 2.0 platform." "Our nuclear bunker data center is the perfect place to host critical data, like financial transactions, that need a high level of protection," says Jonathan. "Most of us don’t expect nukes to fall from the sky any time soon, but the increasing appearance of natural disasters is actually a huge threat to data centers all around the world. Even data centers with sophisticated contingency planning have shown that they are helpless in the face of large scale natural disasters. For example, an Electromagnetic Pulse (EMP), either manmade or by solar flares, would instantly destroy the electronics in most data centers. Due to the sophisticated construction of our bunker, we are the only solution in Canada that provides protection from these types of threats." Story continues BunkerMining BunkerMining is a crypto mining pool that will soon pay miners in SmartCoins such as bitUSD and bitEuro, or by having real gold or silver drop-shipped to their door. BunkerMining will operate as a zero fee network thanks to the efficiencies it gains by operating through the BunkerDEX. Paying miners in stable cryptocurrencies or real world assets such as gold and silver will be an in-demand feature according to Jonathan. "Crypto miners have invested heavily in their operations, and have often been burned by the volatility (daily fluctuations in value) that crypto coins like Bitcoin experience. In fact lately, we have even seen volatility in the markets for many national fiat currencies. With BunkerMining however, miners will have the freedom to choose which currency (SmartCoin) to cash in their earnings, or even to bypass currencies altogether and opt instead for real gold and silver." Via the BunkerDEX, the BunkerMining operation will create a whole new index class that will be minable with the most popular hashing algorithms available. "This will be a game changer for miners," explained Jonathan. "The markets for various coins are constantly changing. Those that invest in mining hardware take on a risk that the value of the coins they mine today might not profit tomorrow. By using the BunkerMining pool, miners that use Scrypt mining rigs for example will also be able to benefit from increased value in Bitcoin, which is not a scrypt mined coin, as part of the index." "What’s even more exciting is the level of transparency we will be able to bring to our mining pool, and potentially our index could become another metric for measuring the current state of crypto," muses Jonathan. "Thanks to the support of the BitShares delegate system, during our initial growth phase we should be able to offer miners a higher ROI than anywhere else, and bonuses on payouts will constantly keep us among the most profitable mining pools." The Canadian Rewards Debit Thanks to the BitShares’ high capacity network, the BunkerDEX will enable anyone with a SmartPhone to cash their cheques, pay bills online, and send money to their friends and family in any SmartCoin they choose. "Historically, Canadians have been the earliest adopters of new electronic payment technologies," Jonathan recalls, "and we will appeal to them with a system that is convenient, easy to use, and secure - thanks to the decentralization of the BitShares network. Also, we have much lower overhead costs than a brick-and-mortar bank, so we will have much lower fees." DSN will provide secure gateway transactions that will enable Canadians to easily transact their everyday banking and purchases in Canada and around the world. BitShares is decentralized , so every account holder has sole access to their funds. Because of this, account holders can enjoy the convenience of everyday banking transactions without the risk of bank failure. Add this to the first of its kind referral program that will be built into BitShares 2.0, and marketing to Canadians will be a no brainer. Synchronized Assets Futures Engine (SAFE) Saving the best for last, Jonathan beams, "I have to say, I am most excited about the SAFE system we have created in tandem with Bunkershares, because it seems that technically we may have created an entirely new class of financial instrument. With the BitShares 2.0 network, we will be presenting a never before seen mechanism for online businesses to utilize. We think that SAFE has the potential to spur a whole new industry." To raise money for expanding operations, Data Security node will soon begin selling an asset called BunkerShares , which will be issued onto the BitShares Decentralized Exchange as User Issued Assets. SAFE will be a platform that provides businesses in high demand industries a way to raise money from investors without issuing securities. Instead, investors get to act as the middleman on every sale, and their investment is always protected against the potential for a liquidity crunch. Return on investment for SAFE "shareholders" in a company have the potential to be much higher than traditional securities instruments, and could be comparable to what an equity investment return would have in the short term. Through the BitShares network, all transactions are decentralized and made public, so the entire system can be audited at any time by any shareholder. They do this simply by using a SAFE company’s online shopping cart to make a purchase. SAFE aligns the incentives of investors and companies more harmoniously than traditional stocks, so investors in small businesses don’t have to wait years or longer for the chance to liquidate their holdings. "Because this is a brand new concept, we made a video ( SAFE Investment ) to help explain it in detail. In the video, we compare Wal-Mart gift cards to how SAFE can work for online businesses," Jonathan continues, "I am confident from the feedback from prospective investors thus far that this new financial instrument, backed by our technology, is going to gain traction in the coming year as companies seek to diversify their capital sources." "With our nuclear bunker data center utilizing the BitShares 2.0 platform, I see a bright future ahead for us." The BunkerShares 50 day sale will commence this fall, with the BunkerDEX following shortly afterwards. ### BunkerShares - www.bunkershares.ca Data Security Node - www.datasecuritynode.com BitShares - www.bitshares.org Cyptonomex - www.cryptonomex.com About Data Security Node Inc. From the nuclear bunker data center located in Debert, Nova Scotia, Canada, Data Security Node provides hosted solutions to companies and government organizations worldwide. Since cloud infrastructure often requires high levels of security, DSN provides the high end infrastructure necessary to compete in today’s marketplace. About BitShares The BitShares Decentralized Exchange is a peer-to-peer blockchain based asset exchange platform. It has done away with destabilizing practices like fractional reserve lending and order front running, and provided opportunity for people living in volatile regions of the world to hold their savings in a stable instrument of value. Similar to Bitcoin, the BitShares network cannot be breached or forced to shut down, and anyone running the free and open source software can participate. For more information or to start trading today, please visit Bitshares.org. About Cryptonomex, Inc. (BitShares core development) Cryptonomex provides software development services to meet the growing demand for custom, high-performance, blockchains and related technology. Our engineers have designed and built one of the most advanced blockchain architectures on the market, capable of processing over 100,000 transactions per second with an average confirmation time of less than 1 second. ### Contact Data Security Node Inc.: Jonathan Baha'i 800-784-0849 [email protected] Debert, Nova Scotia Source: Data Security Node Inc. || How Will Greece's Problems Affect The Fed?: The sudden sharp decline in Greece's bailout negotiations sent shock waves throughout international markets and gave investors reason to believe that the nation was headed for an exit from the eurozone. In the U.S., markets remained relatively calm with the Dow Jones Industrial Average losing just 1.95 percent on Monday following news of Greece's scheduled referendum vote. Now, investors are turning their focus to the Federal Reserve to see if the bank will still raise interest rates despite the international turmoil. Still Not A Problem For now, many analysts say that Greece's financial turmoil won't have much of an impact on the Fed's decision making when it comes to a rate hike. Because Greece has been struggling to stay afloat for years, many believe the shock to markets will be minimal as most investors have already wound down their positions in the nation. The Bank for International Settlements reported that U.S. banks have only invested about $12 billion in Greece, a figure that won't spell disaster if the nation exits the eurozone. Related Link: Bitcoin Rises As Greece Falls...Coincidence? Strong Dollar A Concern One issue the Fed could face would be a stronger dollar. The dollar's recent rally has already taken a toll U.S.-based firms' bottom lines as it has made their foreign sales less profitable and their products more expensive than foreign competitors.' The bank is likely to keep the greenback in mind when evaluating whether or not the U.S. can withstand a rate hike. Time Will Tell So far, Fed officials have been adamant that their decisions will be based on U.S. data and whether or not the nation's economic improvement warrants a rate increase. With most analysts expecting the bank to raise rates in September, the Fed will have plenty of time to see how the Greek situation plays out. If the problems in Greece become a contagion affecting the global economy, then the bank will likely hold off on a rate hike. But if the issue passes without much impact on U.S. markets, the bank will likely proceed as planned. Story continues See more from Benzinga Greece's Final Proposal Draws Criticism From Syriza Investors Tentatively Look To Europe © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || A bitcoin start-up has made exchanging currency free: A bitcoin(:BTC=)start-up has launched a service that will allow people to carry out foreign exchange transactions for free, dodging the expensive commission often charged by major financial institutions. Bitreserve, a company founded last year by CNET and salesforce.com co-founder Halsey Minor, allows people to convert bitcoin into normal currencies and precious metals. The start-up used to charge a 0.45 percent commission for bitcoin-to-dollar transactions, but has now cut its fees entirely. The move is likely to give it an edge in the hotly contested "fintech" market where a number of companies such as U.K.-based Transferwise are contesting the currency transfer and mobile payments space. Users of the platform will be able to make currency exchanges in eight major currencies: euros, dollars, pounds, yuan, yen, pesos, rupees, swiss francs. People will also have the ability to convert the currencies into gold, silver, platinum and palladium, depending on the market price. Bitreserve offers the mid-market rate for currencies. "Those in society who can least afford it have to spend so much for things that are so commonplace," Anthony Watson, president and chief operating officer of Bitreserve, told CNBC by phone. "If you look at a Mexican immigrants, they send approximately $30 billion home every year and they pay just under $3 billion for the privilege of sending that money home. That is 10 percent and that is disgusting." Bitreserve's service comes with a catch however - you have to own bitcoin to use the service in order to make an initial deposit and then convert it to another asset. Plus, when users receive money, they can only spend it in bitcoin. This could put it at a disadvantage to other companies that allow people to sign up with bank accounts and send money for still a small commission. One use case of such a technology is remittances, which reached $436 billion in 2014, according to the World Bank. Since its inception in October 2014, Bitrserve has been responsible for $14.5 million worth of transactions globally, according to its website. But not all experts agree that a free model is sustainable in the currency exchange business. "No business that offers its services for free can do so sustainably over a long period of time without other revenue sources," Stan Stalnaker, board member of the Digital Asset Transfer Authority, a self-regulating body for digital currencies, told CNBC by email. Read MoreThis is why bitcoin won't go away anytime soon "The real question, in an age of free transactions, is about business models - what other products and services can Bitreserve launch that it will charge for, and how successful will that be on the back of very low cost remittances?" Watson said the company was looking to partner with traditional financial institutions to allow people to move the money into traditional bank accounts, as well as retailers so people can buy items using regular currencies. "We are in conversation across the world with not only banks but different financial services providers. We are talking to a myriad of companies. We don't see ourselves as a threat to banks we see ourselves as complimenting what they do," Watson, the former Nike CIO, said. Another use of Bitreserve's technology is to store bitcoin in a stable currency like the U.S. dollar. "A lot of people are putting money on reserve and moving it into currency and moving bitcoin into a stable form of currency. Bticoin bounces around like a jack rabbit," Watson added. A number of companies such as Coincove and ArtaBit are offering similar services, but only allowing people to send bitcoin to converted to one currency. More From CNBC • CNBC.com News Page • CNBC.com Blogs Page • CNBC.com Earnings Central || Will Overstock.com (OSTK) Q2 Earnings Surprise Estimates? - Analyst Blog: Overstock.com Inc.OSTK is slated to report second-quarter 2015 results after the closing bell on Jul 23. Last quarter, the company posted a negative earnings surprise of 45.00%. Let us see how things are shaping up for this announcement. Factors to Consider Overstock’s first-quarter 2015 earnings of 11 cents missed the Zacks Consensus Estimate of 20 cents. Revenues of $398 million, however, beat the consensus mark of $387 million. In the past quarter, Overstock, a Bitcoin supporter, circulated a proposal among hedge funds, P-E firms, and other probable investors to sell a $25 million private bond using the blockchain. Bitcoin and other cryptocurencies operate on blockchain which is a distributed public ledger. This revolutionary development is part of the company's larger cryptofinance initiative known as Medici. Nevertheless, Overstock shares lost 5.43% over the last three months. According to Seeking Alpha, numerous hedge funds exited their positions in the shares of the company in their latest filings. Along with this, seven funds reduced their positions. Overstock also expanded its operations into China. The company will ship products from a warehouse situated just outside Shanghai. It has partnered with China's second largest online retail store, JD.com JD. 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 Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) 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 13 cents. Hence, the difference is 0.00%. Zacks Rank:Overstock’s Zacks Rank #3 when combined with 0.00% ESP makes surprise prediction difficult. We caution against stocks with a Zacks Rank #4 or 5 (Sell-rated stocks) going into the earnings announcement, especially when the company is seeing negative estimate revisions. Stocks to Consider Here are some companies, which you may consider as our model shows that they have the right combination of elements to post an earnings beat this quarter: PetMed Express, Inc. PETS, with an Earnings ESP of +3.57% and a Zacks Rank #1 Apple Inc. AAPL, with an Earnings ESP of +2.78% and a Zacks Rank #2 Want the latest recommendations from Zacks Investment Research? Today, you can download7 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 reportPETMED EXPRESS (PETS): Free Stock Analysis ReportAPPLE INC (AAPL): Free Stock Analysis ReportOVERSTOCK.COM (OSTK): Free Stock Analysis ReportJD.COM INC-ADR (JD): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research || 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. || Your first trade for Wednesday, June 17: The "Fast Money" traders gave their final trades of the day. Tim Seymour was a seller of the IWM(NYSEArca: IWM. Steve Grasso was a buyer of DECK(NYSE:DECK-News). Brian Kelly was a buyer of UA(NYSE:UA-News). Guy Adami was a buyer of ADBE(NASDAQ:ADBE-News). Trader disclosure: On June 16, 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, GE, GM, GOOGL, INTC, JCP, SUNE, Tim's firm is long BABA, BIDU, MCD, NKE, NOK, SBUX, YHOO. Steve Grasso is long AAPL, BAC, DD, DECK, EVGN, MJNA, PFE, T, TWTR, GDX firm is AVP, TWTR his kids own EFG, EFA, EWJ, IJR, SPY. Brian Kelly is long DXGE, BTC=, BBRY, U.S. Dollar, he is short Australian Dollar, he is short Canadian Dollar, he is short Euro. he is short Yen, he is short Yuan. Guy Adami is long CELG, EXAS, INTC, Guy Adami's wife, Linda Snow, works at Merck. More From CNBC • CNBC.com News Page • CNBC.com Blogs Page • CNBC.com Earnings Central || Caribbean's Next Top Model Returns to the Catwalk With Flow TV Partnership: BRIDGETOWN, BARBADOS--(Marketwired - Jul 16, 2015) - It was a night of exciting news as C&W unveiled its new consumer brand in Barbados and Wendy Fitzwilliam, Miss Universe 1998, announced a mutually beneficial partnership with the 'new' Flow to air the second season of the reality show 'Caribbean's Next Top Model.' "We're absolutely excited to be working with Flow to bring Caribbean's Next Top Model back for a second season. We are resolute in our desire to showcase brand Caribbean and this partnership makes it possible to build on our first season and bring the show back to our fans in a much more interactive way," said Wendy Fitzwilliam at the launch. The regionally based reality show is tied to the successful original production -- America's Next Top Model -- owned by CBS International and created by former top model and television producer Tyra Banks and follows the stories of young women seeking to launch a career in the competitive world of modelling. Fitzwilliam stated, "We know that there are many young women in the Caribbean who have big dreams of success in fashion. The fashion and beauty industries have been impacted by the talent of women with Caribbean roots for quite some time, from history makers such as Grace Jones and Naomi Campbell to relative newcomers such as Barbadian model Lene Hall, the face of Prescriptives by Esteé Lauder and Puerto Rican supermodel Joan Smalls. CNTM," she says "provides an additional opportunity for more Caribbean women to be represented within the international fashion industry. The success of this show will impact more than individuals and models it will also highlight the Caribbean fashion and beauty industries, content development in the Caribbean and more." John Reid, President of the C&W Consumer Group noted that the partnership was a perfect fit for Flow, now positioned as a Caribbean brand "driven by all that is positive in the Caribbean, the people, the passion, the drive to succeed, innovation and positive vibes." He noted that Flow will also use its quad play technology to ensure that viewers have access across multiple channels so that they can access the programme when they want and how they want. "Flow customers," he explained, "will be able to access Caribbean Next Top Model before other viewers on Flow TV, via the Flow on Demand platform at their convenience. They can even access information about the programme on their smart phones and other mobile devices." Caribbean's Next Top Model is produced by Wendy Fitzwilliam and her sister Dionyse Fitzwilliam, who is the show's Executive Producer. Casting calls for the second season are currently being held in Barbados, Cayman Islands, Jamaica and Trinidad and Tobago. The casting calls are also being facilitated online to make it more accessible for potential participants throughout the region. The first show will be aired in October. 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)] One Bitcoin now worth $248.96@bitstamp. High $252.28. Low $240.00. Market Cap $ 3.551 Billion #bitcoin pic.twitter.com/E5QAlTUKOR || Bitcoin traded at $246.43 USD on BTC-e at 02:00 PM Pacific Time || 1 BTC = 270.00 USD at https://bleutrade.com/exchange/BTC/USD … #bitcoin #btc #Bleutrade || bitcoin rate-2015-07-21 PDT start_rate:$276.91 last_rate:$274.00(-1.05%) #lakebtc @MoneysEdge http://www.moneysedge.com/bitcoin  || In the last 10 mins, there were arb opps spanning 23 exchange pair(s), yielding profits ranging between $0.00 and $813.51 #bitcoin #btc || In the last 10 mins, there were arb opps spanning 19 exchange pair(s), yielding profits ranging between $0.00 and $1,117.80 #bitcoin #btc || buysellbitco.in #bitcoin price in INR, Buy : 15295.00 INR Sell : 14826.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || Bitcoin traded at $232.5 USD on BTC-e at 04:00 AM Pacific Time || LIVE: Profit = $699.58 (0.87 %). BUY B287.66 @ $279.29 (#Bitfinex). SELL @ $280.00 (#HitBTC) #bitcoin #btc - http://www.projectcoin.org  || In the last 10 mins, there were arb opps spanning 20 exchange pair(s), yielding profits ranging between $0.00 and $609.61 #bitcoin #btc
Trend: down || Prices: 288.70, 292.69, 293.62, 294.43, 289.59, 287.72, 284.65, 281.60, 282.61, 281.23
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 Gross Law Firm Announces Class Actions on Behalf of Shareholders of GERN, CAN and TLRY: NEW YORK, NY / ACCESSWIRE / March 13, 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. Geron Corporation (GERN) Investors Affected : March 19, 2018 - September 26, 2018 A class action has commenced on behalf of certain shareholders in Geron Corporation. The filed complaint alleges that defendants misled investors regarding a drug called imetelstat, which was intended to treat certain cancers that occur in bone marrow. Specifically, defendants misled investors about the results of a clinical drug study of imetelstat called IMbark. That study was designed to ascertain whether imetelstat helped patients with a cancer called myelofibrosis. Shareholders may find more information athttps://securitiesclasslaw.com/securities/geron-corporation-et-al-loss-submission-form/?id=5686&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=5686&from=1 Tilray, Inc. (TLRY) Investors Affected : January 15, 2019 - March 2, 2020 A class action has commenced on behalf of certain shareholders in Tilray, Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) the purported advantages of the marketing and revenue sharing agreement with Authentic Brands Group (the "ABG Agreement")were significantly overstated; (ii) the under performance of the ABG Agreement would foreseeably have a significant impact on the Company's financial results; and (iii) as a result, the Company's public statements were materially false and misleading at all relevant times. Shareholders may find more information athttps://securitiesclasslaw.com/securities/tilray-inc-loss-submission-form/?id=5686&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) 862-7770 SOURCE:The Gross Law Firm View source version on accesswire.com:https://www.accesswire.com/580581/The-Gross-Law-Firm-Announces-Class-Actions-on-Behalf-of-Shareholders-of-GERN-CAN-and-TLRY || Bitcoin’s Recent Recovery Won’t Salvage a Terrible Month for Prices: While bitcoin (BTC) has climbed sharply from recent lows below $4,000, it’s still on track to end March with a double-digit price loss. The top cryptocurrency by market value is currently trading near $6,440, representing nearly a 68 percent rise from the low of $3,867 registered on March 13. Even so, prices are still down 24 percent on a month-to-date basis. If that loss is held through Tuesday’s close (00:00 UTC), it would be the biggest monthly percentage decline since November 2018. Back then, the cryptocurrency had tanked by 37 percent, according to CoinDesk’s Bitcoin Price Index . Related: Cannabis Shops Are Using Zap’s Lightning App During Coronavirus Cash Crunch It’s also the second straight month in the red for bitcoin after an 8.5 percent decline in February. The cryptocurrency has registered double-digit losses in just two months out of the last 13. Meanwhile, the bulls have managed to produce gains of over 10 percent in five months over the same period. Why the drop? Bitcoin, often touted as a safe haven asset, dropped sharply in March despite the coronavirus-led risk aversion in the traditional markets. That’s likely because investors used the cryptocurrency as a source of liquidity . When panic sets in the financial markets, investors tend to liquidate assets and hold cash, preferably the U.S. dollar, which is the global reserve currency. Related: Bitcoin Ends Q1 Down 10%, Outperforming Equities in Coronavirus Crisis Hence, it’s not surprising the dollar index, which tracks the value of the greenback against major currencies, has gained nearly 7 percent this month, according to data provided by the crypto derivatives research firm Skew. Gold, too, is reporting a month-to-date gain of over 6 percent. Looking forward There is general consensus in the market that bitcoin will regain poise in the second quarter, courtesy of U.S. monetary policies. While the Fed has recently announced an unlimited easing program that will boost supply, bitcoin is set to undergo its miner’s reward halving in May. The process will reduce the daily issuance, or supply, of coins by 50 percent. Story continues See also: Bitcoin Halving, Explained “Bitcoin is going to experience its third block halving in Q2. We’re weeks away from an event that has, historically, led to monumental economic growth for Bitcoin and other cryptocurrencies,” Brandon Mintz, CEO of the bitcoin ATM provider Bitcoin Depot, told CoinDesk. Meanwhile, Chris Thomas, head of digital assets at Swissquote Bank, believes buying dips and accumulating is the way to trade in the second quarter, because bitcoin has historically performed well in the months following the halving. Someanalysts expect the massive monetary and fiscal lifelines launched by thecentral banks and governments across the globe to strengthen bitcoin’s appealas an inflation hedge and a haven asset. “The insanity that’s guiding today’s public markets is making bitcoin seem quite civilized in comparison, and while short term confidence in Bitcoin was shaken, its long-term fundamentals as an asset class have been strengthened by the speed and quantum of its recovery,” said Jehan Chu, co-founder and managing partner at Kenetic Capital. “I’m looking forward to continued volatility and the possibility of another move down below $6,000 but ultimately recovery and return to $8,000-$9,000 levels in the second quarter,” Chu added. Confidence seems to have returned to the bitcoin market, as indicated by the notable drop in exchange deposits over the last 2.5 weeks. The slowdown in inflows to exchanges suggests there are now fewer sellers looking to offload their holdings into the rising market. The derivatives market, however, is biased bearish. For instance, the futures market is in “backwardation” – a condition where the futures price of a commodity is lower than the spot price today. “Backwardation in the futures market indicates that traders are expecting a price to decline slightly over the coming months,” Luuk Strijers, COO of crypto derivatives exchange Deribit, told CoinDesk. See also: Crypto Markets Can Never Close, and That’s a Good Thing Strijers added that miners are also generating selling pressure right now, with bytetree.com data showing they are selling more bitcoin than they produce, and are not awaiting the upcoming halving. However, ByteTree’s founder and chairman, Charles Morris, believes that’s a bullish sign . After all, miners wouldn’t hit their own profitability by selling into a market that lacks the strength to absorb the extra supply and fuel a price crash. What the charts say From a technical analysis standpoint, the monthly close is pivotal. Bitcoin turned lower from $10,500 in February, establishing a second bearish lower high (marked by arrows) on the monthly chart. The pattern would gain credence if prices settle under the December low of $6,425 on Tuesday’s close. That would boost the probability of a re-test of the 50-month average support at $5,200. On the higher side, a convincing move above $7,000 is needed to confirm a bullish reversal on the weekly chart, as discussed Monday. Disclosure: The author holds no cryptocurrency at the time of writing . Related Stories Bitcoin All-Time High in 2020? Chances Are Only 4%, Options Market Signals Bitcoin’s Lightning Becomes Latest Protocol to Court Publishers With Micropayments || Bitcoin, Ethereum & Litecoin - American Wrap: 2/18/2020: Bitcoin Price Analysis: BTC/USD rockets back above the big $10,000 mark Bitcoin price is trading in positive territory, up 3.40% in the second half of the session. BTC/USD is heading back for another purposeful retest of the barrier at $10,500. The price managed to stage a rebound, after receiving support at the round figure of $9500. Ethereum Price Analysis: ETH/USD can fly if $270-290 supply zone is broken down Ethereum price is trading in the red by 1.40% in the session on Tuesday. ETH/USD price action is very much choppy, as seen over the last seven sessions. The bulls must break down a barrier of resistance running around the $270-290 range. Litecoin Price Analysis: LTC/USD has broken out of an intraday chart pattern Litecoin is breaking higher today like much of the other cryptos on Tuesday. The sell-side volume is still much larger so we would need a pick up to ensure the market is behind this move. At the moment 70.00 seems to be a good area of support for LTC/USD and a break of the 77.30 resistance would be a good sign for the bulls. Image Sourced from Pixabay See more from Benzinga • Bitcoin, Ethereum & Litecoin - American Wrap: 2/12/2020 • Bitcoin, Ethereum & Litecoin - American Wrap: 2/11/2020 • Bitcoin, Ethereum & Litecoin - American Wrap: 1/16/2020 © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || A 101 Guide to Ethereum’s ProgPOW Controversy: Why the ProgPoW debate is really about process, power and the threat contentious hard forks pose to DeFi. 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 . Last Friday, on Ethereum’s core developer call, the devs agreed to push forward a controversial anti-ASICs consensus algorithm switch known as ProgPoW. Related: Understanding This Week’s Market Whiplash, Featuring Scott Melker The broader Ethereum community was not pleased, and has spent the last week debating both ProgPoW itself as well as the way decisions in the community get made. In this 101-guide to the controversy, @nlw breaks down: What is ProgPoW The history of the debate Arguments for and against Who falls on what side and why The implications of ProgPoW for DeFi 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 Bitcoin News Roundup for Feb. 27, 2020 Is Bitcoin a Safe Haven or ‘Schmuck Insurance’? CoinDesk Explains SIM Jacking || 11 Surprising Things That Are Taxable: Getty Images If you work for a living, you know that your wages are taxable, and you're probably aware that some investment income is taxed, too. But the IRS doesn't stop there. If you've picked up some extra cash through luck, skill or criminal activities, there's a good chance you owe taxes on that money as well. To avoid being caught off guard when you file your return, take a look at our list of 11 surprising things that are actually taxable. If you collected any of the income or property on the list, make sure you declare it on your next tax return! SEE ALSO: The Most-Overlooked Tax Breaks and Deductions Scholarships Getty Images If you receive a scholarship to cover tuition, fees and books, you don't have to pay taxes on the money. But if your scholarship also covers room and board, travel and other expenses, that portion of the award is taxable. Students who receive financial aid in exchange for work, such as serving as a teaching or research assistant, must also pay tax on that money, even if they use the proceeds to pay tuition. SEE ALSO: 20 IRS Audit Red Flags Gambling Winnings Thinkstock What happens in Vegas doesn't necessarily stay in Vegas. Gambling income includes (but isn't limited to) winnings from lotteries, horse races, casinos and sports betting (including fantasy sports). The payer is required to issue you a Form W2-G (which will also be reported to the IRS) if you win $1,200 or more from bingo or slot machines, $1,500 or more from keno, more than $5,000 from a poker tournament, or $600 or more from other wagers if your take is more than 300 times the amount of your bet. But even if you don't receive a W2-G, the IRS expects you to report your gambling proceeds on your tax return. The good news: If you itemize, your gambling losses are deductible, but only to the extent of the winnings you report as income. For example, if you won $4,000 last year and had $5,000 in losing bets, your deduction for the losses is limited to $4,000. You can't deduct the balance against other income or carry it forward. Your state may want a piece of the action, too. Your home state will generally tax all your income ( if it has an income tax )--including gambling winnings. But also watch out for a tax bill if you place a winning bet in another state. You won't be taxed twice, though. The state where you live should give you a tax credit for the taxes you pay to the other state. Also, check to see if your state allows a deduction for gambling losses. SEE ALSO: Tax Tips for Gambling Income and Losses Unemployment Benefits Getty Images Story continues Discovering that your unemployment benefits are taxed may not be nearly as shocking as the news of your job loss, but it can be just as tough to accept. After all, you just lost your job through no fault of your own--why should Uncle Sam make you pay for your misfortune? The reality is that unemployment benefits are a form of income, and that income is taxable at both the federal and state level. State taxes vary from state to state, so make sure you review your state's unemployment tax policies. According to the IRS, unemployment compensation, for the most part, includes any amounts received under federal or state unemployment compensation laws, including state unemployment insurance benefits and benefits paid to you by a state or the District of Columbia from the Federal Unemployment Trust Fund. You have the option to have as much as 10% of your weekly benefits withheld for federal taxes. Taxpayers will receive a Form 1099-G from the IRS, which shows the amount received and the amount of any federal income tax removed from your benefits. Taxes may be withheld from unemployment benefits at the request of the benefits claimant by using Form W-4V, while others who choose not to have their taxes withheld may need to make estimated tax payments during the year. SEE ALSO: 10 Things You Must Know About Filing for Unemployment Benefits Cancelled Debt Getty Images Don't get too excited if a credit card company says you don't have to pay off the rest of your balance. That's because debt that is cancelled or otherwise discharged for less than the amount you owe is generally treated as taxable income. This applies to credit card bills, car loans, mortgages, or any other debt that you owe. So, for example, if your bank says you don't have to pay $2,000 of the $6,000 you still owe on a car loan, you have $2,000 of cancellation of debt income that you must report on your next tax return. There are some exceptions to the general rule, such as for certain student loans, debts discharged in bankruptcy, qualified farm indebtedness and a few other types of debt. Also, in the case of "nonrecourse" debt--i.e., where the lender can repossess any collateral property if you fail to pay, but you're not personally liable for the unpaid debt--any cancelled debt is not considered taxable income (although you might realize gain or loss from the repossession). If you do have a debt forgiven, the creditor may send you a Form 1099-C showing the amount of cancelled debt. The IRS will get a copy of the form, too--so don't think Uncle Sam won't know about it. SEE ALSO: 10 Reasons You Will Never Get Out of Debt Stolen Property Getty Images If you robbed a bank, embezzled money or staged an art heist last year, the IRS expects you to pay taxes on the proceeds. "Income from illegal activities, such as money from dealing illegal drugs, must be included in your income," the IRS says. Bribes are also taxable. In reality, few criminals report their ill-gotten gains on their tax returns. But if you're caught, the feds can add tax evasion to the list of charges against you. That's what happened to notorious gangster Al Capone, who served 11 years for tax evasion. Capone never filed a tax return, the IRS says. SEE ALSO: How You Might Be (Unintentionally) Cheating on Your Taxes Buried Treasure Getty Images If you unearth a cache of gold coins in your backyard or discover sunken treasure while deep-sea diving, the IRS wants a piece of your booty. Found property that was lost or abandoned is taxable at its fair market value in the first year it's your undisputed possession, the IRS says. The precedent for the IRS's "treasure trove" rule dates back to 1964, when a couple discovered $4,467 in a used piano they had purchased for $15. The IRS said the couple owed income taxes on the money, and a U.S. District Court agreed. SEE ALSO: Strange Ways States Tax You (And Don't) Gifts from Your Employer Thinkstock Ordinarily, gifts aren't taxable, even if they're worth a lot of money. But if your employer gives you a new set of golf clubs to recognize a job well done (or to persuade you to reject a job offer from a competitor), you'll probably owe taxes on the value of your new irons. More than 50 years ago, the Supreme Court ruled that a gift from an employer can be excluded from the employee's income if it was made out of "detached and disinterested generosity." Gifts that reward an employee for his or her services don't meet that standard, the court said. Gifts that help promote the company don't meet that standard, either. SEE ALSO: 10 Things Every Worker Needs to Know About the New W-4 Form for 2020 Bitcoin Getty Images While you can use bitcoin to purchase a variety of goods and services, the IRS considers bitcoin--along with other cryptocurrencies--to be an asset. If the bitcoin you used to make a purchase is worth more than you paid for it, you're expected to pay taxes on your profits at capital gains rates--just like stocks and bonds. As the use of cryptocurrency has increased, the IRS has begun to crack down. In 2019, it sent letters to more than 10,000 people who may not have reported transactions in virtual currencies. If your employer pays you in bitcoin or some other virtual currency, it must be reported on your W-2 form, and you must include the fair market value of the currency in your income. It's also subject to federal income tax withholding and payroll taxes. QUIZ: Can You Tell If These Tax Deductions Are Legit? Bartering Getty Images When you exchange property or services in lieu of cash, the fair market value of the goods and services are fully taxable and must be included as income on Form 1040 for both parties. But an informal exchange of similar services on a noncommercial basis, such as carpooling, is not taxable. If you exchanged property or services through a barter exchange, you should expect to receive a Form 1099-B (or a similar statement) in the mail. It will show the value of cash, property, services, credits or scrip you received from bartering. SEE ALSO: Best States for Low Taxes: 50 States Ranked for Taxes Payment for Donated Eggs Thinkstock Every year, thousands of young, healthy women donate their eggs to infertile couples. Payments for this service generally range from $6,500 to $30,000, according to Egg Donation, Inc., a company that matches donors with couples. Those payments are taxable income, according to the U.S. Tax Court. Fertility clinics typically send donors and the IRS a Form 1099 documenting the payment. SEE ALSO: Tax Breaks You Won't Believe Are Real The Nobel Prize If you were selected for this prestigious honor--worth more than $900,000 in 2019--you must pay taxes on it. Other awards that recognize your accomplishments, such as the Pulitzer Prize for journalists, are also taxable. The only way to avoid a tax hit is to direct the money to a tax-exempt charity before receiving it. That's what President Obama did when he was awarded the Nobel Peace Prize in 2009. If you accept the money and then give it to charity, you probably will have to pay taxes on some of it because the IRS limits charitable deductions to 60% of your adjusted gross income. SEE ALSO: The 10 Most Tax-Friendly States in the U.S. EDITOR'S PICKS Best States for Low Taxes: 50 States Ranked for Taxes 20 IRS Audit Red Flags 20 Most-Overlooked Tax Breaks and Deductions Copyright 2019-2020 The Kiplinger Washington Editors View comments || Podcast: What is a W-2 and how do they work?: listen on Apple Podcasts | Spotify Listen to Taxes Made Simple by Yahoo Finance and TurboTax to get help in filing your taxes this year. Transcript below Janna Herron: This is Taxes Made Simple by Yahoo Finance and TurboTax. I'm Janna Herron. So what are the new tax changes for this year? We know that last year there were a lot of big changes, but that doesn't mean everything's the same this year. There were a handful of changes I think people need to know about. Let's start with actually filing your taxes. You could always file your taxes for free by law, especially if you didn't have a very complicated tax return. This year, the IRS has stipulated that it should be easier and has actually created a website where you could go click on the free file and it would take you to one of the programs at TurboTax where you can file your taxes for free. Now not everybody can file their taxes for free. It depends on how complicated your taxes are. For many, many Americans, their tax returns are pretty simple. If you're only depending on a W2 to fill out your tax return, or maybe you have a few 1099's, those things are very easy and you probably should qualify for the free file. Another interesting change this year is the IRS is really, really interested in if you invested in cryptocurrency, such as Bitcoin. This year, the IRS is going to actually ask if at any time during 2019 did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency. So that might be a surprise for crypto investors out there. The reason behind it is that the IRS doesn't have good tracking on transactions that have to do with cryptocurrency. Usually, when you trade a stock, you sell a stock, you buy a stock, your brokerage account will send that information to the IRS and you will get a 1099 form to use to fill out your tax returns. When it comes to crypto, it's not nearly as sophisticated. A lot of the virtual currency exchange platforms don't generate those forms. So the IRS has been in the dark for a long time when it comes to cryptocurrency, so that's a big change. Story continues There are some other things you should know about. If you got divorced last year, the way alimony or spousal support is considered by the IRS has changed. You no longer have to claim spousal support as income if you receive it from your ex-spouse. And if you're the one paying alimony, you can no longer deduct that amount from your taxes. So it's better if you are the one receiving the alimony than the one paying the alimony when it comes to this change. There's a new change with medical expenses. If you're trying to deduct your medical expenses, it's a little bit harder this year, so your total health expenses in 2019 must be greater than 10% of your adjusted gross income for them to be deductible. Before that, the threshold was 7.5%, so it was easier to get above that threshold. Another change having to do with health insurance, if you didn't have health insurance last year, you don't have to pay a tax penalty. Before, under the Affordable Care Act. If you didn't have health insurance during the year for a certain amount of time, you would have to pay a penalty. But the new tax law that went into effect in 2017 eliminated that penalty starting last year. The standard deduction also went up from last year to account for inflation. Now it's $12,200 for single taxpayers, $24,400 for married couples filing jointly and $18,350 for heads of household. If you do your taxes and you're really upset with how they turn out this year, say you got a really tiny refund when you wanted a bigger one, or even worse, you owe Uncle Sam some money and you don't want to do that next year, what you're going to need to do is adjust your paycheck withholdings. If you do that, you'll see that there is a new form for the paycheck withholdings, so that will be new to you. Because it's new, it's going to be a little bit more difficult, but once you've done it and gotten the hang of it, it's actually pretty simple. My advice is to have your tax return handy so that you can plug in the numbers that the withholding form is going to ask for so that it can give you a very accurate reading on what you should withhold from each paycheck going forward. The IRS also has a paycheck withholding estimator, and what's really great about this calculator is that if you want to get a $5,000 refund, you can enter that and it will how to calculate what amount needs to be withheld from each paycheck so that you get that refund next year. And that's it for new changes this year for taxes. This is Taxes Made Simple from Yahoo Finance and TurboTax. Please head over to Apple Podcasts and leave a five-star rating and review there. Until next time, thanks for listening. listen on Apple Podcasts | Spotify || Cannabis Shops Are Using Zap’s Lightning App During Coronavirus Cash Crunch: It’s now easier than ever to use bitcoin to support regular businesses beyond the crypto bubble. Zap founder Jack Mallers, best known for Lightning-friendlybitcoin services, just launched a desktop tipping product to complement theStrike payments app. Just like the mobile app, the tipping feature allows senders to give eitherbitcoin(BTC) or dollars while users receive dollars in their bank accounts. Each Strike username is automatically given a public tipping website. Mallers works with trading desks on the backend so users only see a Venmo-like interface. Spenders can scan a QR code, the same way they would for sending fiat with a regular fintech app. Users are not even required to know what bitcoin is. Related:Bitcoin Enters Historically Strong Quarter With 3% Price Gain “Every Strike user is given a public domain at strike.me,” Mallers said. “We’re using Lightning for really fast online settlement of value transfers. … It’s also beneficial for privacy on the sender’s side.” Read more:Zap’s New Product Lets Merchants Take Dollars Over Lightning Network The Zap team, which has been experimenting with Strike since January, on-boarded two cannabis dispensaries last weekend. Johnny Kurish, general manager at Boulder’s Helping Hands Herbals, said the closed beta program processed roughly $1,000 worth of purchases over the weekend. Now the dispensary will switch to only accepting contactless Strike payments, Kurish said, an anomaly in a region where most cannabis dispensaries are “cash only” establishments. Employees at Helping Hands no longer touch customers toaccept cashor cards. Related:Bitcoin Takes Tumble, Traders Fret Correlation and Next Month’s Halving “We’re really lucky to have curbside drop-offs. We check the ID through the roll-up window, deliver the cannabis to a podium in front of the car,” Kurish said. “We’re happy to reopen with an option that’s safe for our staff.” Eventually, Mallers said, he’d like to also allow options for debit cards so people can spend their bitcoin tips at the grocery store as fiat. For now, the beta app for peer-to-peer transfers and its complementary website for receiving tips has more than 5,000 people on the waiting list. Mallers said he aims to open up the beta program to the public by summertime. So far, roughly 100 beta users are transacting with up to $20,000 a month. “The point of the beta is to go at our own pace,” Mallers said. Read more:Bitcoin Shopping Gets a Boost From Social Distancing Just like PayPal, Zap is a traditional money transmission business, Mallers said, for customers who have bank accounts in any American state but New York. Plus, anyone who wants to receive bitcoin can use Strike to send value to the Zap bitcoin wallet. Mallers said he hopes, even beyond merchants,content makersand performers can use the Strike tipping feature to accept tips from fans around the world, since bitcoin is a universal payments technology. “We live-trade as you use the app,” Mallers said, describing how Zap scaled the backend trading operation with custom algorithms. “Our balance sheet is always remaining flat.” • Online Black Markets’ Bitcoin Revenues Take a Hit Amid Pandemic • Bitcoin Ends Q1 Down 10%, Outperforming Equities in Coronavirus Crisis || Bitcoin Ends Q1 Down 10%, Outperforming Equities in Coronavirus Crisis: Bitcoin ended the first quarter of 2020 down from the start of the year, but not as badly as the record-setting losses suffered by global equities. On a 24-hour basis, bitcoin (BTC) was in the green less than a percent Tuesday afternoon Eastern time and ether (ETH) was up slightly as well. The performance of other cryptocurrencies was mixed. Notable assets on CoinDesk’s big board include decred (DCR) up 3 percent, XRP (XRP) in the green 2 percent and cardano (ADA) gaining 1 percent. Assets in the red included dash (DASH) slipping 1 percent and bitcoin SV (BSV) in the red 1 percent. All price changes are in the past 24 hours as of 20:30 UTC (4:30 p.m. ET) on March 31. Related: How Coronavirus Is Accelerating the End of Globalism, Feat. Peter Zeihan In the traditional markets, Japan’s Nikkei 225 index closed down slightly, less than a percent. Europe’s FTSE 100 ended the day up 1.3 percent. In the U.S., the S&P 500 closed New York’s trading day down 1.6 percent. But for the full quarter, the Nikkei 225 was down 20 percent, the worst three-month showing for the Tokyo-based index since 2008 . The FTSE lost 14 percent for the period, its second-worst quarterly performance ever , beating only the fourth quarter of 1987. The S&P 500 was in the red 18 percent to close out Q1 2020, its worst quarter since 1938 . Cryptocurrencies operate 24/7 and don’t have quarters for closing the books. However, bitcoin, the market bellwether, was down just 10 percent for 2020’s first three months. Semi-correlated? Despite its relative resilience, bitcoin still has been trending downward over the course of the first quarter along with traditional markets, undermining the narrative that it is a “non-correlated” asset. Related: Online Black Markets’ Bitcoin Revenues Take a Hit Amid Pandemic “I think correlation across assets is still quite high, a telltale sign of when macro matters more than micro,” said Vishal Shah, founder of Alpha5, a new derivatives exchange backed by large crypto funds. Story continues See also: Bitcoin’s Recent Recovery Won’t Salvage a Terrible Month for Prices Indeed, the current period of turbulence isn’t the first time bitcoin has behaved similarly to mainstream financial investments. “The lack of correlation to equities was a bit premature to announce. We had periods of high correlation, for example, in 2018, when bitcoin fell along with equities in December of that year,” said Siddhartha Jha, a former Wall Street analyst now working on blockchain-focused startup Arbol. On the other hand, he said, “we have had other periods of higher correlation to gold,” more befitting bitcoin’s aspirations as a hedge against inflation. Since 00:00 UTC Tuesday, bitcoin has been trading in a tight range of $6,300-$6,500. “BitMEX open interest remains low, but Coinbase is reporting great inbound activity. None of the typical signs for a crypto bull-run are there,” Shah said, referring to major derivatives and spot exchanges, respectively. March has produced the lowest level of outstanding positions on BitMEX in 18 months , although the derivatives exchange’s volume has seen gains the past four days prior to leveling off Monday. Gold dropped over 2 percent Tuesday as of 20:30 UTC, breaking out of its consolidation pattern on heavy selling volume March 31. The road ahead While the coronavirus outbreak has dealt a heavy blow to the world economy, analysts are unsure how long it will take for growth to resume. “Recessions typically unfold over a longer period of time – at least two consecutive quarters,” said Guy Hirsch, U.S. managing director of multi-asset platform eToro. For the time being expect bitcoin’s role to keep switching for traders – it all depends on how other markets perform, experts say. See also : Crypto Markets Can Never Close, and That’s a Good Thing “The novel-tech part of bitcoin leads to correlation with Nasdaq, especially as many of the investors have overlaps,” said Arbol’s Jha. “Other times it will go with gold. But if equity markets are crashing, that correlation is going to show up very fast.” How the purchasing power of the U.S. dollar holds up given massive doses of stimulus from Washington is something else analysts are watching keenly. “The economic blow from the coronavirus pandemic has been instant and the impact is unprecedented,” added eToro’s Hirsch. “There is a growing consensus that due to the Fed announcing unlimited QE, investors could soon be looking to BTC as an inflation hedge against a depreciating dollar.“ Related Stories Bitfury Latest to Donate Crypto Mining Power to Coronavirus Research As Crypto Prices Reeled in Q1, These Coins Stood Out || Bitcoin’s implied volatility is surging, and it’s a cash grab for big traders: Implied volatility for bitcoin has been soaring – and it's a boon for some of the market's biggest traders. One-month implied volatility for the digital asset has increased from 55% to 65% since Sunday at midnight, according to data provided by Skew . Implied volatility gauges a market's expectation for volatility in a given asset over the next month. As traders brace for rocky markets ahead, bitcoin continues to see its price fall. During the last 24-hours, bitcoin has shed more than 4% and is currently trading above $7,700 per coin. Elsewhere, U.S. equities are seeing further losses amid the growing coronavirus outbreak and mounting fears about its economic impact. Adding to the concerns: conversations between OPEC and Russia broke down over the weekend, a development which precipitated a 30% drop in the price of crude. At last check, Dow Jones Industrial Average was trading down more than 1,400 points this morning. Indeed, the VIX index – which measures 30-day implied volatility – soared to 62 during this morning's session, which is close to where it stood during the financial crisis. Still, some crypto traders are surprised that there isn't more panic in the market. "It's a casual slide down," Darius Sit of crypto derivatives trader QCP told The Block. "Which is strange." Max Boonen, co-founder of B2C2, said revised growth expectations would have more of an impact on equities relative to bitcoin, which might be playing into the more sanguine sentiment. "Stocks are down big time because the growth expectations have been revised much lower," he said. "Bitcoin does not really depend on economic growth. It's not a stock with dividends." Regardless of the asset class, an increase in volatility is a good thing for some traders and brokers who thrive during these kinds of market conditions. High-frequency traders like Virtu Financial make markets during these conditions and earn money on the spread between the price investors want to buy or sell a stock. When volatility increases, that spread widens and firms bring in more money. Story continues Virtu is one of the few stocks in the green today, trading up 1.9% at time of writing. The same logic goes for crypto market-making firms, industry sources say. "I suspect everyone in a similar business benefits to varying degrees based on the exact strategy," Boonen said, adding: "We had a big February." Since the beginning of March, Boonen said the firm has raked in as much profit as it did in December. || ‘They Have the Users’: Binance CEO Explains Why He Bought CoinMarketCap: Binance just bought the top of the funnel. The largest cryptocurrency exchange by market volume has acquired popular data site CoinMarketCap (CMC) for an undisclosed price, the companies announced Thursday. Binance CEO Changpeng “CZ” Zhao told CoinDesk the deal closed March 31, although a verbal agreement had been reached “a few months ago.” With its extensive (although often questionable ) data on prices, volumes and other metrics for 5,290 cryptocurrencies, CMC has served as a dragnet for retail investors since its launch in 2013. Related: Binance Crypto Exchange Is Launching Its First Bitcoin Mining Pool “It’s a really good website and I think we can help grow it further,” Zhao said in an interview with CoinDesk Thursday, adding he had no immediate plans for CMC. Zhao said the domain will remain independent from Binance under a holding company, perhaps staving off concerns over potential conflicts of interest. Industry veterans told CoinDesk they see a future where CMC could serve as a marketing channel for Binance, steering prospective customers toward the exchange. Zhao, on the other hand, characterized it as a simple, albeit large, purchase of a cash-flow positive asset. “It’s by far the largest we have done so far,” he said of the deal. The acquisition shows that while many firms looked to institutional players as crypto’s messiah in 2019 and even today, Zhao is pinning his hopes on a mass audience of individual investors after buying the most heavily trafficked website in the space. Related: Binance Cut Leveraged Tokens Because Users ‘Don’t Read Warning Notices’ Amazon’s Alexa ranks CMC as the 570th most visited website globally in the last 90 days. That’s compared to Binance and rival exchange Coinbase at 1,688 and 1,562, respectively. The next closest data provider is CoinGecko at 7,350. Zhao’s purchase also caps CMC’s journey, from a scrappy outfit run out of founder Brandon Chez’s apartment to a property coveted by an industry leader. In fact, Zhao said he had pursued Chez for years. With the sale, Chez is stepping down. Story continues “CMC was not for sale,” CMC interim CEO Carylyne Chan said in an interview. “Opportunity came along.” (Chan now joins Binance.US CEO Catherine Coley as one of two female chief executives running firms connected to the exchange in a historically male-dominated industry.) Earlier this week, The Block reported the acquisition was in the works, and put the price tag at $400 million in cash and stock options, citing unnamed sources. Founders and investors interviewed by CoinDesk gave differing opinions on the plausibility of the figure; some said it sounded too high, others thought it was too low. While both Chan and Zhao declined to give actual figures for the acquisition, citing non-disclosure agreements, Zhao confirmed it was Binance’s biggest acquisition to date. “CoinMarketCap has more users than any other product in the crypto space,” Zhao said. “Even though their money generation mechanism is not as strong as Binance, they do have the users – it’s a very valuable platform.” Read more: Crypto’s King Midas: Backstage With CZ, the CEO Who Can’t Be Stopped Early talks Earnest conversations between CoinMarketCap and Binance date back to the data provider’s conference for investors in November 2019, said Chan. Zhao hinted at the coming acquisition, along with one other unannounced purchase, in a New Year’s Day blog post . Binance bought nine separate entities last year alone and plans to onboard 180 fiat currencies by the end of 2020 in an aggressive push to sign up retail customers. The company’s tagline is “exchanging the world.” It’s easy to see, then, why CoinMarketCap’s status as the first landing page for retail investors would be attractive to Zhao despite his past criticisms of CMC for its data quality. If reports about the price are true, the deal stands as one of the top M&A deals in crypto history. Circle, now a shell of its former self, purchased Poloniex for $400 million in 2018 but has since spun off the exchange and pivoted to focusing on stablecoins. For CMC, the acquisition follows a ride through choppy waters. The firm quickly became both the dominant data source and go-to platform for asset pricing in the nascent industry. It also became a lightning rod for controversy after a 2019 report to the U.S. Securities and Exchange Commission (SEC) by digital asset manager Bitwise found artificial trade volume from 95 percent of the crypto exchanges that provide data to CMC. Startups such as Nomics, Messari and CoinGecko seized the Bitwise report to chip into CMC’s lead, particularly among institutional investors, which require robust data and can’t expose their clients to manipulation. Read more: For $15K, He’ll Fake Your Exchange Volume – You’ll Get on CoinMarketCap Competitors react Rival exchanges reacted with mixed emotions at news of the deal, which could firmly outdistance Binance from the pack. Lennix Lai, director of financial markets at OKEx, said it was good to see such large M&A deals in the context of a “bearish market in crypto.” Big players investing back into key infrastructure is healthy for crypto, Lai said, even if warranting skepticism. “People might have doubts about whether or not CMC could maintain its independence afterward. It’s fair. But I think we should give the team a chance,” he said. Andy Cheung, former chief operating officer at OKEx and founder of crypto derivative platform ACDX , was more critical in his assessment. The acquisition “is not very good for the industry” given the conflict of interest between the parties’ missions, he said, pointing to Binance’s exchange token, BNB, as an example. “I can understand the business or potential profit,” Cheung said. “But honestly, how are you going to convince people that the rankings and volume are true when you’re operating an exchange and also probably the biggest holder of BNB?” Cheung even saw it as a blow to Zhao’s cult of personality. “CZ has been telling everyone, ‘We are not here for the money and building something bigger and meaningful for humanity.’ Now I’m disappointed, I hope I am wrong and he has a better reason behind” the purchase, he said. One Silicon Valley crypto investor speaking on the condition of anonymity doubted the reported $400 million buyout figure and said the overall deal “feels like a favor” to CMC founder Chez. “The founder is very stealth and I think has the majority of the cap table. And he’s struggled to monetize for years,” the investor said. That’s not to say Binance doesn’t have loose change to throw around. Two sources said Binance is “flush” with cash, with one pointing toward futures trading customers departing BitMEX following a critical error on March 12 as a recent boon. Big data, small markets CMC sits in an awkward spot after its acquisition. Although it is typically the first port of call for small retail buyers, institutional investors spurned the website, particularly after Bitwise’s SEC report. At the same time, CMC has some of the best data in the industry because of its sheer volume: exchanges have always used CMC, so why change now? Nomics founder and CEO Clay Collins told CoinDesk that a certain degree of trust is necessitated between an exchange and a data provider; trust that “is likely to be eroded here” with CMC under the same roof as Binance. If rival exchanges feel threatened by the possibility of Binance harvesting data from CMC, those firms will be “much less willing to provide low-latency and high-granularity data,” Collins said. “That data is now being given to a competitor with surveillance abilities. It’s unlikely that other exchanges will want to see Binance aggregating and monetizing their own data,” he said. Collins’ concerns were seconded by Alexei Andryunin, head of Gotbit, a Russian token and exchange promotion service. That’s a polite way to describe the business, which Andryunin has candidly admitted inflated volumes on CMC for small-cap coins via wash-trading bots. In Andryunin’s view, the purchase will provide Binance with “data on all their competitors, plus some of the best expertise for traffic generation in the crypto industry.” However, leveraging or altering data would be equivalent to sending the investment to a burner address, Andryunin said. “Binance is incentivized to keep this service transparent so that they don’t lose their investment. I think they’ll try to preserve CMC’s reputation.” He also said that CMC’s summer 2019 capitalization was estimated at $650 million, suggesting the reported $400 million offering was a bargain. Read more: We Still Don’t Know Bitcoin’s Real Volume Maturation Binance aside, CMC’s Chan said data concerns continue to be a key part of the firm’s focus. The firm is launching both “qualitative data as well as quantitative data” features in 2020, Chan said. “Stronger agreements” could be put in place to “protect [exchanges’] interest as well,” she acknowledged. “In a sense, it’s in our interest to continue to be neutral and to be transparent and independent,” Chan said. Zhao acknowledged CMC’s shortcomings, saying the firm “needs to resolve” numerous issues and “make the product better over time.” That responsibility falls to Chan and her team, though, he said. “I’m not dictating it,” Zhao said. Meanwhile, the purchase frees up elbow room for other data aggregators, particularly on the institutional side of the market, said Messari co-founder and CEO Ryan Selkis. In an email to CoinDesk, and in his own newsletter and Twitter feed, Selkis described the buyout as a win for everyone, including data companies that won’t receive a check. “It’s great news for other crypto data companies, and information businesses. Audience and influence matters. Quality data matters,” he said in a company newsletter. Yan Liberman, principal at research and consulting firm Delphi Digital, said these larger acquisitions are good for the sector and show overall maturation. He added that it’s best to wait and see on Binance’s relationship with CMC rather than cast stones early. “The initial reaction might be to look at other data providers/platforms as comparables, but because of all the nuances/differences among them, I don’t think it’s very useful to do that until we get a better understanding of what the plans are for CMC,” Liberman said. Not much will change for CMC once the acquisition takes place, Chan said. All of the firm’s roughly 40 employees – minus Chez, who will stay on as an advisor – will join the 930-person Binance staff, Zhao said. Chan said the firm will continue to alter its infamous advertisement structure , but will still host paid-marketing for other exchanges. Since the firm will operate separately from Binance, Zhao will have to dish out more money if Binance wants to advertise on CMC, she said. For his part, Chez – the sole shareholder of CMC – walks away from crypto with a big chunk of change in his pocket – fiat or otherwise. Chan said Chez’s focus remains on his family during the coronavirus crisis and subsequent quarantine he and his family currently live under. “We would love to keep him, but he wants to take a break and, given the size of the deal, it makes total sense,” Zhao said. Zack Seward, David Pan and Anna Baydakova contributed reporting. Related Stories Singapore Temporarily Exempts Crypto Firms, Including Coinbase, From New Licensing Regime Brave Partners With Binance to Develop In-Browser Crypto Trading [Random Sample of Social Media Buzz (last 60 days)] None available.
Trend: up || Prices: 6845.04, 6842.43, 6642.11, 7116.80, 7096.18, 7257.67, 7189.42, 6881.96, 6880.32, 7117.21
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)] ‘I Didn’t Buy It to Sell It. Ever.’ MicroStrategy’s Michael Saylor on His $425M Bitcoin Bet: The CEO of publicly traded MicroStrategy (MSTR) shares why he started to feel like he was “sitting on a 500-lb block of ice” and how he came to bitcoin as a solution. 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:First Mover: Digital Gold Narrative Could Be Bitcoin's Lone Ace as Ethereum Gains MicroStrategy made waves when it announced in early August it was moving $500,000,000 in treasury reserves out of cash. At least $250 million were to be moved intobitcoin. Earlier this week, the company announced its final bitcoin purchases totaled $425 million. In this conversation with NLW, MicroStrategy CEO Michael Saylor explains: • Why he’s always treated the company with a long time horizon • Why the asset inflation rateisthe real inflation rate • How he became convinced that bitcoin is the best treasury asset in the world • Why Michael believes some other companies will follow suit, but better do so quick • Why the intensity of maximalists is actually part of the reason he grew conviction around the asset • Why he would buy every bitcoin if he could See also:The Great Monetary Inflation: Paul Tudor Jones’ Complete Case for Bitcoin Related:Bitcoin Down as Stocks Fall Over European Coronavirus Fears 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. • ‘I Didn’t Buy It to Sell It. Ever.’ MicroStrategy’s Michael Saylor on His $425M Bitcoin Bet • ‘I Didn’t Buy It to Sell It. Ever.’ MicroStrategy’s Michael Saylor on His $425M Bitcoin Bet || Bank of England governor: Digital currencies raise ‘fundamental questions’ for central banks: Bank of England governor Andrew Bailey said that stablecoins should meet the standards expected of existing commercial bank money. Photo: PA Digital currencies such as Facebook’s ( FB ) Libra raise “fundamental questions” about the role of central banks in ensuring the stability of money and payment systems, Bank of England governor Andrew Bailey said on Thursday. In a speech to the Brookings Institution, Bailey questioned the extent to which central banks should be involved in the underlying payments infrastructure of digital currencies. Central banks currently play a crucial role in ensuring confidence in the monetary system, through issuing currencies and maintaining price stability, he said. Policymakers are particularly uneasy about the introduction of privately operated digital currencies with global ambitions. In part because the value of so-called stablecoins such as Libra would be tied to other assets, central banks fear that they could replace traditional currencies and upend financial systems in the process. READ MORE: Bank of England to assess potential for digital central bank currencies Critics such as French economy minister Bruno Le Maire have issued stark warnings about stablecoins, arguing that they could result in a loss of sovereignty for nation states. “If stablecoins are to be widely used as a means of payment, they must have equivalent standards to those that are in place today for other forms of payment types and the forms of money transferred through them,” Bailey said on Thursday. Referencing a report by the Bank of England’s financial policy committee, Bailey said that stablecoins should meet the standards expected of commercial bank money: stability of value, robustness of legal claim, and the ability to convert their holdings at par value to fiat, or government-issued, currency. “Some major stablecoin proposals do not appear at present to meet this expectation,” Bailey warned, without directly referencing Libra. “While this might be acceptable for speculative investment purposes, it would not be for payments widely relied upon by households and businesses,” he said. Noting that a global stablecoin would be a “cross-border phenomenon,” the governor said that there should be minimum international standards for stablecoins. Bailey also raised the prospect of central bank-backed digital currencies (CBDC), which are currently being considered by a Bank for International Settlements grouping that includes the Bank of England. Offering them, Bailey said, would allow “broad access” to central bank money in a digital form. READ MORE: UK services sector sees sharpest increase in activity since 2015 But they would also raise “profound questions about the shape of the financial system and the implications for monetary and financial stability and the role of the central bank,” he said. Story continues Others have noted that central-bank backed currencies would virtually wipe out the attraction of private sector stablecoin proposals such as Libra, since people would instead flock to those guaranteed by institutions like the European Central Bank and Bank of England. Drawing a distinction between stablecoins and other cryptocurrency innovations, Bailey said that crypto-assets such as Bitcoin ( BTC-USD ) had “no connection at all to money.” “They may have extrinsic value — you may like to collect them for instance, and as such they are a highly risky investment opportunity,” he said. “Their value can fluctuate quite wildly, unsurprisingly. They strike me as unsuited to the world of payments, where certainty of value matters.” View comments || The Post-COVID Financial World Is Much More Crypto-Friendly: There has been a lot of discussion about what the world of money will look like following the COVID-19 pandemic of 2020. A few trends have already emerged in this regard: there is more emphasis on remote transactions and fintech, certain industries have proven less profitable to invest in, and the landscape is favoring cryptocurrency more than ever. Between the influx of traffic to the cryptocurrency sector and the explosion of DeFi , it seems that cryptocurrency is going to take center stage in the years following the pandemic. What Is Drawing People To Crypto? Cryptocurrency already had a healthy influx of both individual and institutional support prior to the COVID-19 outbreak, but the months following lockdown measures have seen a significant spike in crypto-related interest. For many people, this is due to the desire of having more control over their assets. Despite new crypto interest, not everything has been positive. Sectors such as travel and tourism have been hit hard, with many companies expected to go out of business in the coming years as a result. Naturally, this caused the stock market to react with high volatility. With their investments in jeopardy, investors have turned to digital assets to hedge their bets in the event of another decline. This was further bolstered by the fact that digital assets like cryptocurrencies have fewer entry barriers than traditional asset classes. New Investment Options Within The Blockchain Industry One of the more interesting sectors of the blockchain industry has been lending and the chance to stake, lend, and borrow assets at interest rates that can be very attractive for both sides of the equation. Back in March 2020, Babel Finance , a major cryptocurrency financial institution in Asia, announced that it had reached $380 million in outstanding loans . At the time, Babel had claimed that this development was due to trading firms, institutional lending desks, and Chinese miners who turned to crypto lending firms in order to pay for mining costs and offer their future mined tokens as collateral. Story continues Babel Finance’s newly formed private banking services, called Babel PRIVATE , were embraced by high-net-worth individuals which led to investments of up to $50 million in USDT tokens from these clients. The crypto market, primed for even more investment than ever before, is now providing ample opportunity for new investment products. These were not the only new investment products available from Babel in 2020. On September 22 the company announced the launch of two Bitcoin open-ended Fund Investment products - BTC Ratchet-Snowball 001 and BTC Simons 001. Both products are open to subscription now and enable crypto investors to have an investment-friendly experience that was previously only available to traditional stocks and funds. Details About The New Offering According to Babel, the product will have an initial size of 500 bitcoin each. The subscription limit will also be one bitcoin and the net asset value of the products will be updated every Friday of the month. However, the product is only to Babel PRIVATE clients who will enjoy zero purchasing fees and redemption fees during the promotional period. This offering, while innovative, appears to borrow some features from the traditional financial market such as its ‘snowball structure’, which is a popular investment strategy in the larger market. It has also been described as suitable for investors who have a "long-term bullish" view. Crypto and Traditional Unite These recent developments show that traditional financial services and crypto services can work side-by-side and in some cases, cryptocurrency offerings can improve existing traditional products. For example, Babel’s BTC Ratchet-Snowball 001 Fund is an improvement to the traditional concept of a Snowball structure. It aims to maximize returns with a carefully added layer of security that can withstand major price changes - even amid a volatile market like the one we’re in– so that heavy losses won’t occur. According to Babel Finance’s historical data from Feb 28-Sep 11, its BTC Ratchet-Snowball 001 Fund achieved more than a 20% annualized rate of return. As consumers are expanding their options more and more to include cryptocurrency offerings, the larger market will have to adapt and embrace it, making way for a more pro-crypto financial future. Disclaimer: The author of this post does not hold any public or private positions in any of the companies or products mentioned. Please consult your financial advisor before investing in any cryptocurrencies, stocks, or companies as they can pose risks for the average investor. This post is informational in nature and does not constitute financial advice. See more from Benzinga Options Trades For This Crazy Market: Get Benzinga Options to Follow High-Conviction Trade Ideas The 4 Signals That Can Predict Whether A Startup Will Succeed Or Fail How The Pandemic Is Stimulating Innovation In Crypto © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || India's PM Modi Latest Victim Of Twitter Cryptocurrency Hack: Twitter Inc(NYSE:TWTR) disclosed Thursday that the account of Indian Prime Minister Nardendra Modi’s personal website on the social media platform was hacked, and tweets pertaining to cryptocurrency donations were sent out, ReutersreportedThursday. What Happened:The prime minister’saccounthas over 2.5 million followers and is related to his website — www.narendramodi.in and mobile application. “We are actively investigating the situation. At this time, we are not aware of additional accounts being impacted,” Twitter said in an emailed statement to Reuters. Tweets were sent from the account asking followers to donate to a relief fund using cryptocurrency. Why It Matters:The hacking of the prime minister’s account is similar to the one that took place in mid-July, where Bitcoin scammers asked for donations after taking over accounts of high-profile persons such as former President of the United States Barack Obama,Tesla Inc(NASDAQ:TSLA) CEO Elon Musk, andMicrosoft Corporation(NASDAQ:MSFT) co-founder Bill Gates. The July-attack caused the private messages of at least 36 people to be compromised, while over 100 of Twitter’s preeminent users were affected. Reports at the time suggested that an insider was allegedly responsible for the hacking. Twitter later stated that "spear phishing" attacks on employees led to the hack. Price Action:Twitter shares closed nearly 6.1% higher at $43.67 on Wednesday and fell almost 0.4% in the after-hours session. Photo courtesy: Kremlin.ru See more from Benzinga • Facebook, Twitter Crack Down Against Russian Accounts Trying To Steer Away Biden's Left-Wing Voters • Twitter Takes Down Three Pro-Trump Accounts For Spreading Disinformation • Tesla Is The Unnamed Company Targeted By Indicted Russian Hacker, Musk Attests © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Two Experts, Same Forecast: The elite pedigree behind our newest analyst … what he and Matt McCall see coming in the crypto world Here’s how the text exchange went: “Go on the send bitcoin page now.” InvestorPlace - Stock Market News, Stock Advice & Trading Tips “Can we do a test? I want to try doing a send back and forth if we can. But I hope you’re not offended that I’m not super trusting of people on the internet yet. My son usually helps me with this stuff but he’s not around.” “Well I feel slightly offended but it’s alright although I’ll be glad if you would just follow my instructions which I’m sure will cause you no problems.” The above exchange took place between a bitcoin expert and a scammer about a year ago. Ben Perrin runs a YouTube channel that educates investors about bitcoin. He was amused when he received an unsolicited Instagram message offering to double his investment if he’d just send thousands of dollars’ worth of bitcoin to this investment “expert.” Playing along, Perrin pretended to be a bitcoin newcomer. He created a fake bitcoin wallet, then responded to the scammer, claiming he would gladly send $20,000 if the scammer would first send $100, just to make sure everything was legit. The scammer met Perrin halfway, sending him $50. Here’s the Canadian Broadcasting Corporation ( CBC ) with the rest of the story: Perrin then dropped the bluff, called the fraudster out, and let them know he donated their money to charity. He sent the money to Bitcoin Venezuela, which helps people there buy food using the cryptocurrency, as the Venezuelan bolivar has collapsed. Though the above scam is easy to see, discerning between true bitcoin experts and self-proclaimed bitcoin experts, who have no real expertise, is a bit trickier. After all, anyone who held their breath and bought some bitcoin, say, around the beginning of last year, when it was trading at about $4,000, could easily claim “I’m up over 150%. I’m clearly an expert.” Story continues I bring this up as Matt McCall just launched a new altcoin service called Crypto Investor Network with a real expert named Charlie Shrem. But what exactly makes Charlie an authority? And let’s just name the real, underlying question: “why should you, the reader, trust one dime of your money on his recommendations?” Let’s find out. ***One of the first bitcoin tycoons Let’s begin with Charlie’s background and select bona fides as described by Crypto Investor Network : Charlie became one of bitcoin’s earliest backers and today is considered one of the most influential people in cryptocurrencies … Charlie and friend Gareth Nelson launched BitInstant, one of the first and ultimately largest bitcoin exchanges, at the dawn of the crypto era in 2011 … He was also one of the founding members of the Bitcoin Foundation in 2012, which aimed at bringing mainstream awareness to the digital currency world … (He) has advised and invested in more than two dozen digital currency companies, launched and managed numerous partnerships between crypto and non-crypto companies, and is the go-to guy for some of the world’s wealthiest entrepreneurs. He’s been mentioned in Fortune … Forbes … CNN … 60 Minutes … TED Talks … Bloomberg … and The Wall Street Journal … to name a few. His story has been featured in numerous Netflix documentaries and best-selling books, including the seminal blockbuster Bitcoin Billionaires. He’s been called one of bitcoin’s first tycoons … bitcoin royalty … and a crypto visionary. I think it’s fair to say that’s a remarkable pedigree. But what’s not in Charlie’s website-bio is just as interesting. As Wikipedia reports, Charlie was buying bitcoin in 2011 as a college senior. When the bitcoin service he was using crashed, he lost his entire stake. This was, in part, what led him to create BitInstant, referenced above. It turns out the company operated until July 2013, at which point it was processing about 30% of all bitcoin transactions. Since then, Charlie has followed a fascinating career path that’s included business development consulting … owning a Manhattan bar which become the first bar in New York to accept bitcoin … founding a crypto startup venture … serving as Chief Operating Officer for the crypto wallet Jaxx … and helping create the altcoin “Dash,” among other twists and turns. And to answer the question that’s likely on your mind, yes, his early involvement in bitcoin has resulted in a fortune. The blockchain media site bull.io pegged Charlie’s 2019 net worth at $45 million. I think the term “expert” is fair to use in this situation. ***The wealth-generating potential behind altcoins today Our own Matt McCall is no altcoin novice himself. He’s led subscribers to a slew of altcoins that are up triple-digits so far in 2020. And today, both Matt and Charlie are incredibly bullish on altcoins. From Matt: My new business partner and I believe that not one in a thousand people know this is coming. And yet, it will change virtually everything about your daily life. It will affect everyone in America, no matter who you are and where you live. How you buy everyday goods and services … how you pay your taxes … how you buy a home … and even the way you vote. All this disruption and change is creating a once-in-a-lifetime financial opportunity for you and anyone else who acts today. Matt goes on to explain that he believes we are at the beginning of the next surge that will take the strongest cryptos many times higher … In short, Matt and Charlie agree that our broader culture is waking up to the fact that cryptocurrencies are one of the most valuable, revolutionary technologies ever created. And as this awareness spreads, there will be an enormous rush into this asset class — or as Matt calls it, an “awakening.” This was what Matt and Charlie discussed this past Monday. It was a special, live event in which the two experts discussed the future of the altcoin universe. Matt and Charlie explained how most investors don’t fully understand the altcoin world. But that’s not going to stop the changes from coming. Back to Matt: We know that for all the hype surrounding the blockchain technology cryptos are built on, very few people understand WHY it’s so revolutionary. That’s okay. It’s actually common with big breakthrough technologies that change our world. They exist for years in the periphery before the world realizes their true importance. Then BOOM! They take off! Matt believes we’re at that “boom” inflection point today … This awakening could singlehandedly drive the price of bitcoin and several other select cryptocurrencies to never-before-seen heights. If you position yourself correctly, it could hand you a fortune that you could only previously dream of. If you’ve ever been the least bit curious about altcoins and the crypto universe, I encourage you to watch a playback of Monday’s event by clicking here . At a minimum, you’ll learn how two legitimate experts are viewing this dynamic asset class today. They even give away the name of their top altcoin recommendation for free. Watch and decide for yourself. There’s zero obligation. Here’s Matt with the final word: … you simply can’t have this amount of innovation and change without shaking things up. The bigger the change, the bigger the gains. Have a good evening, Jeff Remsburg The post Two Experts, Same Forecast appeared first on InvestorPlace . || Bitcoin Down Almost 10% Today, You’ll Be Surprised to Hear What’s Next: RESEARCH HIGHLIGHTS: • Bitcoincollapsed near Triple Fib Amplitude Arcs – is this a sign of pending reversal for other assets? • It is very likely that Bitcoin price levels will fall below the May through July levels, near $9k in an attempt to identify new support levels. The $8k level would be the next downside price target.  Beyond that, possibly $7k or even $6k. • GoldandSilverwill move lower before going higher as a potential price collapse in Bitcoin suggests general market fear is hitting all global assets. • As other assets decline in valuation levels, the US Dollar will likely be viewed as the strongest currency to own and rise. Many of you are familiar with my team’s advanced study of Fibonacci Price Theory and our use of our proprietary Fibonacci Price Amplitude Arc indicators.  This technical analysis theory is a combination of Nikola Tesla’s Mechanical Resonance theory and traditional Fibonacci Price Theory.  We believe the innate frequency of price action (once found), can be used to identify future critical inflection points in price.  In this case with Bitcoin, three unique Fibonacci Price Amplitude Arcs aligned within 5 days to present a very real price inflection point.  The recent collapse in the price of Bitcoin may be inherently related to the frequency of price from past peaks and troughs using our advanced Fibonacci Price Theory. We found it interesting that Bitcoin prices stayed below $10k through most of June and July, when other Fibonacci Price Amplitude Arcs crossed price, then began to move higher after the last Price Amplitude Arc completed near July 20, 2020.  After that Fibonacci Arc completed, the only Fibonacci Price Amplitude Arcs present in the future were the Triple Fibonacci Arcs shown on this Daily Bitcoin chart (below). Our team also believes that once Bitcoin cleared the previous Fibonacci Arcs, a bit of a “reprieve” took place in price where a moderate upside price rally too place.  As we neared the Triple Fibonacci Arcs, price activity muted and reversed.  Could it be that price reacts to frequency levels we are not seeing on the charts? The Weekly BitCoin chart, below, highlights many of the origination points (peaks and troughs) of the Fibonacci Price Amplitude Arcs.  We anchor them to price peaks or troughs as a way to use and study them, measuring critical price waves (up or down) using Eclipse drawing tools, then drag them and anchor them to current or past peaks or troughs.  Then we study the levels to determine if the frequency of price validity is accurate or not.  If we believe we have drawn a Fibonacci Price Amplitude Arc that is valid, we’ll keep in on the chart for future reference. We believe this current Triple Fibonacci Arc pattern may be present in other symbols given how theUS stock marketshave reversed recently.  It may be that these critical price inflection points operate across major indexes like tides in the ocean work across multiple ports and harbors.  When a big or critical Fibonacci Price Amplitude Arc hits, we believe it results in a broad market reaction. If this breakdown in Bitcoin Continues, the $8k level would be the next downside price target.  Beyond that, possibly $7k and maybe as low as $6k.  We will have to see how Bitcoin reacts to this Triple Fibonacci Price Amplitude Arc and how deep price corrects at this time.  It is very likely that Bitcoin price levels will fall below the May through July levels, near $9k in an attempt to identify new support levels. We also believe Gold and Silver will move lower as a price collapse in Bitcoin suggests general market fear it hitting all global assets.  The US Dollar may attempt to form support as well because of this move.  As other assets decline in valuation levels, some primary currency will likely be viewed as the strongest alternative asset – this will likely be the US Dollar.  Eventually, after what we believe could be a moderate downtrend in Gold and Silver, precious metals will begin to move dramatically higher as foreign currency and Bitcoin prices continue to fall.  Capital will always seek out the best, least risky, investment solutions at times of chaos and risk.  If Bitcoin becomes highly volatile and continues to fall, then alternate assets present very real opportunities. Isn’t it time you learned how I can help you better understand technical analysis as well as find and execute better trades?  If you look back at past research, you will see that my incredible team and our proprietary technical analysis tools have shown you what to expect from the markets in the future.  Do you want to learn how to profit from these expected moves?  If so, sign up for myActive ETF Swing Trade Signalstoday! If you have a buy-and-hold or retirement account and are looking for long-term technical signals for when to buy and sell equities, bonds, precious metals, or sit in cash then be sure to subscribe to myPassive Long-Term ETF Investing Signalsto stay ahead of the market and protect your wealth! Chris VermeulenChief Market StrategistTechnical Traders Ltd. NOTICE AND DISCLAIMER: Our free research does not constitute a trade recommendation or solicitation for our readers to take any action regarding this research.  It is provided for educational purposes only. Thisarticlewas originally posted on FX Empire • European Equities: A Week in Review – 04/09/20 • Bitcoin Down Almost 10% Today, You’ll Be Surprised to Hear What’s Next • GBP/JPY Weekly Price Forecast – British Pound Gives Up Gains • Silver Weekly Price Forecast – Silver Gives Back Early Gains for the Week • Natural Gas Price Prediction – Prices Rise as Weather Concerns Remain • E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – Technical Bounce Could Lead to Test of 11803.75 || Market Wrap: Bitcoin Clings to $10.4K; Ether in Smart Contracts Highest Since 2016: Bitcoin stuck around $10,400 for most of Tuesday. Meanwhile, ether holders are increasingly choosing smart contracts to park the cryptocurrency. • Bitcoin(BTC) trading around $10,494 as of 20:00 UTC (4 p.m. EDT). Gaining 0.10% over the previous 24 hours. • Bitcoin’s 24-hour range: $10,357-$10,532 • BTC above its 10-day moving average but below the 50-day, a sideways signal for market technicians. After bitcoin prices fell sharply Monday, the world’s oldest cryptocurrency stayed near the $10,400 mark on spot exchanges such as Coinbase Tuesday. “Bitcoin remains in pullback-mode after having seen an initial reaction to short-term oversold conditions that left strong support intact in the $10,000 area,” said Katie Stockton, an analyst for Fairlead Strategies. “The loss of momentum has been significant, but overbought conditions are no longer an issue and the intermediate-term uptrend that began in March still has a hold.” Related:First Mover: Bitcoins Hit Exchanges as Bloomberg Touts Crypto and DeFi Hedge Fund Seeks $50M Read More:Equity Markets Turmoil Could Push Bitcoin Below $10K, Say Analysts Momentum has certainly slowed down since Monday,when massive selling and $34 million in derivatives liquidationson BitMEX led to a $507 million volume day on major spot exchanges. Tuesday did not even approach that level, and was at $210 million in spot volume as of 4 p.m. ET. “We are at 50% of all-time-highs, which is a good area for future consolidation, but the perpetual funding rate for BTC is showing negative,” said Jason Lau, chief operating officer for cryptocurrency exchange OKCoin. Like futures contracts, perpetual swaps allow traders to long or short a position, taking advantage of movements in a cryptocurrency’s price. The difference is there is no expiration date in the swap, hence the term “perpetual” and the requirement of a funding rate, which rolls over between long and short traders at eight hour increments. Essentially, short traders are paying those going long for exposure when the funding rate is negative. Related:Bitcoin Market Weakening After Macro-Based Sell-Off, On-Chain Data Suggests “This signals there is a lot of indecision in the BTC market,” added Lau. “We could continue to see short term sell-offs and an overall more bearish outlook in the coming months.” Michael Gord, CEO of cryptocurrency brokerage firm Global Digital Assets, has seen a shift in sentiment heading into a fourth quarter full of precariousness. “I think we’ve got to be close to the bottom,” Gord said. “Leading up to the U.S. election and debates, more institutional holders of bitcoin are preferring to hold cash and determine whether or not to re-enter afterwards.” Ether(ETH), the second largest cryptocurrency by market capitalization, was down Tuesday trading around $343 and slipping 0.44%% in 24 hours as of 20:00 UTC (4:00 p.m. EDT). The amount of ether parked in smart contracts is at its highest level since 2016,when investors plowed into The DAO, an early decentralized finance (DeFi) precursor. The percentage of ether supply in smart contracts is at 15.96%, the highest level since July 25 2016. Brian Mosoff, CEO of investment firm Ether Capital, says this metric proves Ethereum’s ability to offer DeFi capabilities which its cryptocurrency competition simply does not provide. Read More:What Is DeFi? “The ETH in various DeFi contracts is probably an indicator that ETH holders want to continue to hold the asset but are looking for ways to generate yield,” said Mosoff. “This shows how ETH acts as a productive asset, contrasted with bitcoin, where it may be a great store of value but it lacks the productive yield layer that ETH does.” Digital assets on theCoinDesk 20are mixed Tuesday, mostly in the green. Notable winners as of 20:00 UTC (4:00 p.m. EDT): • tezos(XYT) + 6.6% • 0x(ZRX) + 3.3% • monero(XMR) + 2% Notable losers as of 20:00 UTC (4:00 p.m. EDT): • orchid(OXT) – 15.6% • chainlink(LINK) – 1.5% • xrp(XRP) – 0.77% Read More:Uniswap Users Say Uniting Can Strengthen UNI Equities: • Asia’s Nikkei 225 is closed for holiday Tuesday. Hong Kong’s Hang Seng fell 1% aslosses in the airline sector dragged down the index. • Europe’s FTSE 100 ended the day in the green 0.43%despite the UK imposing some new restrictions spurred by a new wave of coronavirus infections. • In the United States the S&P 500 gained 1% asthe tech sector was up on Tuesday, including Amazon climbing 5.1%. Commodities: • Oil was flat, in the red 0.02%. Price per barrel of West Texas Intermediate crude: $39.76. • Gold was in the red 0.52% and at $1,902 as of press time. Treasurys: • U.S. Treasury bond yields were mixed Tuesday. Yields, which move in the opposite direction as price, fell most on the 2-year, in the red 1.4%. • Market Wrap: Bitcoin Clings to $10.4K; Ether in Smart Contracts Highest Since 2016 • Market Wrap: Bitcoin Clings to $10.4K; Ether in Smart Contracts Highest Since 2016 || ETFs to Gain As Bitcoin Surges: As soon as COVID-19 hit the globe, social distancing mandates and fears that notes may be carriers of the virus made the concept of digital currency popular. Be it corporations or central banks – all are mulling over the greater acceptance of cryptocurrencies. Notably, bitcoin is up about 80% this year as cryptocurrencies are drawing considerable attention this year. Bitcoin crossed the mark of $12,000 lately and marked its highest level since July 2019 on Oct 21. On Oct 21,PayPal Holdings IncPYPL announced that it will allow customers to hold bitcoin and other virtual coins in its online wallet and shop using cryptocurrencies at the 26 million merchants on its network. The new service makes PayPal one of the largest U.S. companies to provide consumers access to cryptocurrencies. This is great news for bitcoin and rival cryptocurrencies. Bitcoin jumped about 7% on Oct 21 on the PayPal news. PayPal competitorSquareSQ launched support for bitcoin back in 2018 through its Cash app. Square also bought $50 million in bitcoin this month as part of larger investment in cryptocurrency. However, PayPal is broadening the area by supporting bitcoin, Ethereum, Bitcoin Cash, and Litecoin. PayPal also plans to extend support to its money-sending subsidiary Venmo and international markets starting in the first half of 2021. For now, the plan is only to support U.S. users. Notably, U.S. account holders will be able to buy, sell and hold cryptocurrencies in their PayPal wallets over the coming weeks, the company said, as quoted on Reuters. Other companies those accept bitcoins includeMicrosoftMSFT,AT&TT,Dish Network(DISH)Burger King,Domino’s PizzaDPZ,Goldman Sachs(GS),Intuit Inc.(INTU), American online retailer Overstock,Shopify(SHOP),Virgin Galactic(SPCE),Zynga(ZNGA) andEtsy(ETSY) among others. Several central banks are considering the rollout of CBDCs lately. China has been taking serious moves toward no-touch payments. In efforts to match with China, seven major central banks last week set the key principles for issuing CBDCs, per Reuters. China's recent experimental $1.5 million (1.16 million pounds) giveaway of digital yuan to Shenzhen citizens received kudos from currency analysts. Sweden’s Central Bank, Riksbank is also conducting a pilot project with Accenture to prepare e-krona. The European Central Bank (ECB) is mulling over the rollout of a "digital euro" for the 19-nation currency club. The ECB launched a public consultation on a potential digital euro on Oct 12.  In its 2020-2024 strategic plan, the Bank of Spain also said that it will focus on design proposals for a central bank digital currency. On Oct 19, Jerome Powell, Chairman of the Board of Governors of the U.S. Federal Reserve, said that the Fed is committed to considering a CBDC but made no final call on it.  The Fed wants “to get it right than be first,” said Jerome Powell. “One set of experiments is being carried out at the board of governors here in Washington, D.C.,” Powell said. Investors can choose to invest in options like blockchain ETFs. Per a source, “the blockchain in Bitcoin literally acts [as] a ledger; it keeps track of the balances for all users and updates them as money changes hands.” “Invented to host bitcoin, today many other cryptocurrencies are also based on blockchain technology.” So, since investors cannot lay their hands on a digital currency ETF now, they can definitely familiarize with the concept through blockchain ETFs likeReality Shares Nasdaq NexGen Economy ETFBLCN,Amplify Transformational Data Sharing ETFBLOK andFirst Trust Indxx Innovative Transaction & Process ETFLEGR. Also, ETFs offering exposure to the blockchain ecosystem via semiconductor companies that make chips for bitcoin mining (or could make for some potential CBDCs) can be played. The most-popular funds includeiShares PHLX Semiconductor ETF SOXXandVanEck Vectors Semiconductor ETFSMH. nbsp; Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >> 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 reportATT Inc. (T) : Free Stock Analysis ReportMicrosoft Corporation (MSFT) : Free Stock Analysis ReportDominos Pizza Inc (DPZ) : Free Stock Analysis ReportiShares PHLX Semiconductor ETF (SOXX): ETF Research ReportsVanEck Vectors Semiconductor ETF (SMH): ETF Research ReportsPayPal Holdings, Inc. (PYPL) : Free Stock Analysis ReportSquare, Inc. (SQ) : Free Stock Analysis ReportReality Shares Nasdaq NexGen Economy ETF (BLCN): ETF Research ReportsAmplify Transformational Data Sharing ETF (BLOK): ETF Research ReportsFirst Trust Indxx Innovative Transaction Process ETF (LEGR): 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 || Charity Turns Down Bitcoin Donation From Darkside Hackers: Hackers who handed out cryptocurrency donations to charities are having a hard time in their bid to “make the world a better place.” According to a BBC report Monday, members of the hacking group Darkside showed proof of two charity donations, each for 0.88 bitcoin (worth around $10,400 at press time), in a blog post on the dark web. One of the non-profits, Children International, said it would not accept the funds. “If the donation is linked to a hacker, we have no intention of keeping it,” it said. The second charity to receive a Darkside donation was The Water Project , which didn’t respond to the BBC. The hackers, who employ ransomware as the tool of their illicit trade, reportedly said in their post they only target large, profitable companies. “We think that it’s fair that some of the money the companies have paid will go to charity,” they said. The group is reported to have made millions from its illegal activities. To make the donations, the cybercriminals used the service offered by The Giving Block, a U.S.-based project that converts donations into dollars for charities not set up to handle cryptocurrencies. Read more: Hodlers Can Donate Crypto to Charity to Minimize Tax Payments Related Stories Charity Turns Down Bitcoin Donation From Darkside Hackers Charity Turns Down Bitcoin Donation From Darkside Hackers Charity Turns Down Bitcoin Donation From Darkside Hackers Charity Turns Down Bitcoin Donation From Darkside Hackers || Spate of Bitcoin Extortion Bomb Threats Hits Government, Schools in Japan: Local government premises in Japan have been hit by a flood of extortion attempts demanding bitcoin in recent months. According to a report by Japan Today on Monday, such threats have been received in at least 18 prefectures since July. The extortionists demand a payment in bitcoin to avoid the detonation of an explosive device, per the report. Austria has also suffered a spate of similar bomb threats, as CoinDesk reported back in August. Japan Post said city halls or schools have been the subject of the threats, receiving an email demanding varying amounts of bitcoin. In one case, in Yamagata City, the demand was for 40 bitcoin, worth over $454,000 at time of writing. The cases in Austria were demanding about $20,000 in bitcoin; prices were at slightly higher levels around $11,700 per bitcoin at the time. None of the Japanese victims have paid the extortionists, per Japan Today. Rather than choose major metropolitan centers, the attackers seem to be targeting local governments in rural areas, such as Sanjo, Niigata Prefecture; Tara, Saga Prefecture; and Minami, Tokushima Prefecture, among others. The report theorizes the extortion attempts are coming from outside of Japan, though there seems to be no evidence to back up the claim. Also read: Wave of Bitcoin-Seeking Bomb Threats Sparks Probe by Austrian Police Related Stories Spate of Bitcoin Extortion Bomb Threats Hits Government, Schools in Japan Spate of Bitcoin Extortion Bomb Threats Hits Government, Schools in Japan Spate of Bitcoin Extortion Bomb Threats Hits Government, Schools in Japan Spate of Bitcoin Extortion Bomb Threats Hits Government, Schools in Japan [Random Sample of Social Media Buzz (last 60 days)] None available.
Trend: up || Prices: 13737.11, 13550.49, 13950.30, 14133.71, 15579.85, 15565.88, 14833.75, 15479.57, 15332.32, 15290.90
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 2018-05-09] BTC Price: 9325.18, BTC RSI: 55.04 Gold Price: 1311.30, Gold RSI: 42.49 Oil Price: 71.14, Oil RSI: 65.34 [Random Sample of News (last 60 days)] How the Bitcoin Bubble Is Mirroring the Dot-Com One, Only Happening 15 Times Faster: If the rise and fall of Bitcoin seems familiar, wants to assure you that it is, though you saw things play out a lot slower originally. The investment firm, in a note, said the cryptocurrency’s price chart islargely mirroringthat of the Nasdaq composite index during the dot-com bubble. Only this time, things are moving 15 times faster than they did in the mid-90s and early 2000s. How similar are things, exactly? Since its creation, Bitcoin has seen fourbear waves, where prices have dropped 45-50%, typicallyreboundingan average of 47% afterward. Nasdaq, starting in 2000, had five of those waves, averaging 44% declines, followed by 40% rebounds. Trading volume patterns are also eerily similar. Of course, as any broker will tell you, past performance is not indicative of future behavior. And while Nasdaq has rallied nicely from its low in 2002 (increasing six-fold), that’s no guaranteeBitcoinwill do the same. But try telling that to crypto enthusiasts. See original article on Fortune.com More from Fortune.com • Bitcoin Prices Recover From a Six-Week Low Ahead of G-20 Cryptocurrency Talks • Report: Twitter to Ban Many Cryptocurrency Ads • Bitcoin Miners Can Now Be Charged Extra for Electricity, New York Power Authorities Say • Russia's Power Plant Hacks, Zscaler IPO, Equifax Insider Trading • Congress Wants to Use Blockchain Tech to Make the Government 'More Efficient' || French Minister Bruno Le Marie Highlights Importance of Bitcoin and Cryptocurrencies: During this week’s G20 summit in Buenos Aires, Argentina, France’s minister of Finance Bruno Le Maire highlighted the importance bitcoin and cryptocurrencies may have in the world’s economy. Le Maire pointed out that France, along with Germany, called for cryptocurrencies to placed on G20’s agenda. The minister revealed that France will start working on cryptocurrency regulations before the rest of the world, in a bid to put Europe at the forefront of the digital economy. As covered, G20 has called forcryptocurrency regulation recommendations by Julythis year, seemingly confirming rumblings of a crackdown on cryptocurrencies are out of the picture. Le Maire, like most of the world’s leaders, added that cryptocurrencies may be used in illicit activities, but noted that he “firmly believes this technology is very positive for every country.” For that to happen, however, “we need to have regulations, and Europe will lead the process.” According to a report published by Brazilian news outletCriptomoedas Fácil, the minister didn’t rule out the possibility of seeing central banks issue their own cryptocurrencies – an idea that’s been entertained by central bankers throughout the world. If these come, he implied, they will come after the sector is regulated. Le Maire notably pointed out he believes financial technology is crucial for the “market to develop in the best possible way.” Per his words, cryptocurrencies are a part of said development. He said (roughly translated): “We agree that crypto-assets can be very interesting for everyone. And we – obviously – are in favor of blockchain technology, which can provide very good support to financial assets in Europe or anywhere in the world. We are in favor of these technologies, but we want these technologies to be secure and therefore we need to define very clear measures for their regulation. “ The French minister’s words seemingly echo those of Spain’s economy minister Román Escolano Olivares, who at G20 stated that he doesn’t see cryptocurrencies as a threat to the global financial system, and revealed theEuropean Union will not wait for a global agreement to regulate cryptos. Ascovered by CCN, Le Maire announced a cryptocurrency task force earlier this year, chaired by a former central banker. At the time, he stated: “We want a stable economy: we reject the risks of speculation and the possible financial diversions linked to bitcoin. I have just entrusted Jean-Pierre Landau, former deputy governor of the Banque de France, with a mission on cryptocurrencies.” Featured image from Shutterstock. The postFrench Minister Bruno Le Marie Highlights Importance of Bitcoin and Cryptocurrenciesappeared first onCCN. || The Zacks Analyst Blog Highlights: Coca-Cola, Eli Lilly, Occidental Petroleum, Ross Stores and Wynn Resorts: For Immediate Release Chicago, IL – March 12, 2018 – 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 Coca-Cola KO, Eli Lilly LLY, Occidental Petroleum OXY, Ross Stores ROST and Wynn Resorts WYNN. Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free. Here are highlights from Friday’s Analyst Blog: Top Stock Reports for Coca-Cola, Eli Lilly and Occidental The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Coca-Cola, Eli Lilly and Occidental Petroleum. These research reports have been hand-picked from the roughly 70 reports published by our analyst team today. You can seeall oftoday’s research reports here >>> Coca-Cola’s shares have underperformed the Zacks Soft Drinks Beverages industry in the last one year, (+5.1% vs. +6.6%). Coca-Cola reported better-than-expected fourth-quarter 2017 results, ending the year on an impressive note. Despite reporting flat soda volumes, the cola giant gained from its growing beverage portfolio and re-structuring efforts. Organic revenues grew 6% with growth across the board, driven by price/mix growth of 4% and concentrate sales growth of 1%. Again, lower SG&A expenses (down 21%), higher gross margin (up 480 basis points or bps) and higher operating margin (up 540 bps) helped it come up with better numbers. However, total sales decreased 20%, marking the 11th consecutive quarterly decline in revenues. Although top line needs to show sustained improvement, the Zacks analyst is encouraged by the company’s strategic efforts in making its portfolio much like that of a total beverage company with improved marketing and innovation, focus on driving revenues by improved price/mix, digital focus, and productivity initiatives toward driving margins. (You canread the full research report on Coca-Cola here >>>) Eli Lilly’s shares have underperformed the Zacks Large-Cap Pharmaceuticals industry in the last one year (down -6.5% vs. +8.9%). Lilly’s new products like Trulicity, Taltz, Basaglar, Cyramza, Jardiance and Lartruvo have been driving revenues and the trend is expected to continue in 2018. Lilly expects to launch 20 new products between 2014 and 2023, including at least two new indications/line extensions on an average every year. The decision to sell or spin-off the Animal Health segment, which has underperformed in 2017, is a prudent decision, according to the Zacks analyst. Also, competitive pressure on Lilly’s drugs is expected to rise this year. Meanwhile, challenges remain for the company in the form of loss of patent exclusivity for products like Cialis and the impact of generic competition for Strattera, Effient and Axiron. U.S. pricing access pressure will also remain a headwind in 2018. (You canread the full research report on Eli Lily here >>>). Strong Buy-rankedOccidental Petroleum’s shares have underperformed the Zacks Domestic Integrated Oil industry over the last six months, gaining +4.2% vs. +11.5%. However, Occidental Petroleum’s fourth-quarter earnings per share and total revenues both came in above expectations. As oil prices continue to improve, Occidental Petroleum gains from more oil production in the Permian Resources and concentrating on high-margin production region. The ongoing capital investment fundamental strength of the company will help it overcome the adverse impact from natural disasters. The company generates stable cash flow and its Chemical plant will further improve its cash flow. Occidental Petroleum, like other oil and natural gas companies, faces the risks of cost overruns and development interruptions due to delays in drilling and other approvals, property or border disputes and equipment failures. (You canread the full research report on Occidental Petroleum here >>>). Other noteworthy reports we are featuring today include Ross Stores and Wynn Resorts. Don’t Even Think About Buying Bitcoin Until You Read This The most popular cryptocurrency skyrocketed last year, giving some investors the chance to bank 20X returns or even more. Those gains, however, came with serious volatility and risk. Bitcoin sank 25% or more 3 times in 2017. Zacks’ has just released a new Special Report to help readers capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly. See 4 crypto-related stocks now >> Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1 Stock 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. Strong Stocks that Should Be in the News Many are little publicized and fly under the Wall Street radar. They're virtually unknown to the general public. Yet today's 220 Zacks Rank #1 "Strong Buys" were generated by the stock-picking system that has nearly tripled the market from 1988 through 2015. Its average gain has been a stellar +26% per year.See these high-potential stocks free >>. 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 reportWynn Resorts, Limited (WYNN) : Free Stock Analysis ReportEli Lilly and Company (LLY) : Free Stock Analysis ReportCoca-Cola Company (The) (KO) : Free Stock Analysis ReportOccidental Petroleum Corporation (OXY) : Free Stock Analysis ReportRoss Stores, Inc. (ROST) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research || India’s Bitcoin Trading Volume Plummets amid Banks’ Blockade of Exchanges: Regulatory and bank challenges are pressuring cryptocurrency exchanges in the country, as evidenced by a 90% decline in volume on bitcoin trading platforms. The Reserve Bank of India, its central bank, has not put the hammer down on trader accounts, but Indian banks have taken a two-pronged approach that’s denting trading activity, including closing bitcoin exchange accounts and limiting cryptocurrency transactions among locals. Dehli-based bitcoin exchange Coinsecure has suffered through some of the worst of it, with CEO Mohit Kalra tellingEconomic Timesthe trading platform’s volumes are off from between BTC 300-400 daily at year-end to a range of just BTC 30-40 today. The writing was seemingly on the wall, as the government’s Income Tax Department at year-end 2017 did a sweep of nearly a dozen bitcoin exchanges, searching for customers who traded cryptocurrencies. Tax officials discovered and alerted some 100,000 residents who were responsible for high-volume trades, as per the Economic Times. The involvement of tax authorities has been exacerbated by the action of public- and private-sector financial institutions that have moved to freeze the accounts of bitcoin exchanges. The banks include – • State Bank of India • HDFC Bank • Kotak Mahindra Bank • Citibank • ICCI Bank Meanwhile, customers are similarly facing restrictions, with banks having banned credit, debit and prepaid card transactions including bitcoin and altcoins. The steps are more severe than the action taken in the United States, where a handful of top banks prohibited bitcoin transactions with credit cards. But if curbing bitcoin trading is the intention, this move by banks and the tone of regulators may backfire, as investors instead shift to using cash for bitcoin transactions. This would complicate the process of tracking transactions to support know-your-customer and anti-money laundering protocols. Blockchain and cryptocurrency industry trade group representatives in India consider the latest actions by banks as blatant “overreach,” without any instruction from regulators, saying: “Without any clear mandate either from the RBI or other regulators, asking us to close down our (exchange) accounts while refusing to give in writing what the reason is just disruptive to our business.” Meanwhile, this has led to confusion and angst among investors. Bitcoin exchanges are having to manage an influx of user complaints on their trading platforms amid traders not being able to access funds for days or more. It’s a function of the banks freezing the accounts of these exchanges, which has tied the latter’s hands for issuing withdrawals. In the interim, BTCXIndia and ETHEX India have both closed their operations until there is greater clarity on the regulatory front. Shaktikanta Das, an Indian Finance Ministry official,doesn’t believecryptocurrencies can be reined in and instead wants to issue a blanket ban, similar to the approach taken by China. Featured image from Shutterstock. The postIndia’s Bitcoin Trading Volume Plummets amid Banks’ Blockade of Exchangesappeared first onCCN. || LendEDU student loan expert Drew Cloud turns out to be a fake: Drew Cloud was known as an expert on student loans. He was cited in publications like CNBC, The Washington Post and The Boston Globe, as founder of a site called The Student Report. He was also not real. In a stunning revelation by The Chronicle of Higher Education on Wednesday, it was revealed he was a totally fabricated person, and demonstrates how easy it is to fool so many (particularly in the media) with a professional looking website, catchy stats, an an authoritative voice. Getty Images The Chronicle’s report found that The Student Loan Report was created by New Jersey-based LendEDU, a marketplace for student loans and student loan refinancing. The Student Loan Report published its own articles offering student loan advice, and peddled Drew Cloud as its chief expert, pitching surveys to news outlets, purporting dubious statistics: 20% of student borrowers used financial aid money to buy cryptocurrencies; “somewhat less than half (27% to 43%) would trade their debt for contracting the Zika virus, 10 years without sex, five years without toilet paper (or moist wipes) or a hookup with Caitlyn Jenner.” LendEDU’s CEO, Nate Matherson, posted an apology on its website Wednesday. LendEDU’s apology letter on its website. “We used this character of “Drew Cloud” as the primary author of the site – a shared pen name through which we could share experiences and information related to the challenges college students face while funding their education,” Matherson wrote. How did LendEDU get its fake expert past so many? The Student Loan Report began posting various articles and survey findings under Cloud’s name. And to further boost his credibility, they put up a picture of a real person which the founder said they had obtained with permission from a college friend. The picture would, according to them, would “ round out the pen name.” Screenshot of a Google search of ‘Drew Cloud’ still shows a fake bio. Cloud’s posts ranged from survey findings to studies evaluating college programs. The two surveys that were picked up the most included one on how 20% of college students were funneling their financial aid money into cryptocurrency to “quickly pay off their student debt.” Cloud opined to reporters who picked up the survey that “ college students would be better off using that money on what it is supposed to be used on: living expenses.” Story continues Mark Kantrowitz, publisher of PrivateStudentsLoans.guru, and a 20-year veteran in the student loan industry, who has also testified for student loan publicly in Congress on the student loan crisis in 2008, said that he saw the warning signs from this particular survey. “Surveys do not have a tendency to report percentages to decimal points. Legitimate surveys don’t go down to that detail especially if you have such a small percentage size.” (The survey stated that 21.2 percent of students had used aid money to fund a cryptocurrency investment.) When Kantrowitz was interviewed for the first time about this survey, he knew something was off. He did some quick math to figure out that if the results were true, “then you’d have millions of students investing in Bitcoin.” But “there was absolutely no evidence of this. The survey was bogus… this can’t be possibly be true.” The other survey was titled “ 18 Insane Things Graduates Would Do to Get Rid of Their Student Loan Debt.” The list included the statistics about trading debt for the Zika virus, and more. Cloud even wrote articles for The Columbus Ledger-Enquirer in Georgia, with headlines like, “ Millennials buried under student debt may get some relief from employers, ” or “ How changes to bankruptcy code could affect your student loans .” When people reached out to Cloud about student debt, he would suggest that they refinance their loans — which was one of the services offered by LendEDU, according to The Chronicle. Questionable surveys While the company has issued an apology for using a pen name, Kantrowitz noted they haven’t yet admitted to fabricating a lot of their survey results. Yahoo Finance confirmed with Matherson on Wednesday that the survey results, at least to him, were accurate. Since the results were collated and published as licensed by a web survey company called Pollfish, it would be difficult to confirm the credibility of the respondents. Screenshot of LendEDU’s Pollfish survey results, courtesy of Nate Matherson Matherson said the company was currently trying to contact the websites that quoted Drew Cloud, but said it would take time. The profusion of surveys and studies also makes it easier to get questionable ones through. Joseph Orsolini, president at College Aid Partners, said that in the student loan industry, he sees “a lot information passed off as knowledge, but the ulterior motive behind it is a marketing purpose.” “Anytime someone is quoting these oddball statistics, you need to take a look at it with a jaded eye.” So how are consumer advocacy groups responding to this? Christopher Peterson, a senior fellow at the Consumer Federation of America, and a law professor at the University of Utah, said this incident highlighted the lack of transparency in the student loan industry. “The point to draw from this is that often times it’s very difficult for the public to discover whether there are conflicts of interest between the websites. The ownership of these websites is very opaque, so it’s very easy to establish companies,” said Peterson. But even if it’s easy to set up a company, “not very many companies are enduring enough” for consumers to recognize. With few established brand names in the industry, consumers are more likely to rely more on relatively unknown companies like LendEDU and Student Loan Report, which could market and sell loan products of dubious quality and not meet their needs, said Peterson. Related coverage: Wells Fargo hit with $1 billion fine LendingClub Drops as FTC Calls ‘No Hidden Fees’ Slogan Deceptive || How Lumentum Holdings Inc. Shares Jumped 17% Higher Today: What happened Sparked by a strong earnings report, shares of Lumentum Holdings (NASDAQ: LITE) jumped as much as 17.3% higher in Wednesday's morning session before settling down to an 11.7% gain at 12:45 p.m. EDT. Hand holding a bundle of white fiber-optic cables. Image source: Getty Images. So what In the third quarter of fiscal year 2018, the maker of optical networking components and systems saw sales rising 17% year over year to land at $299 million. On the bottom line, adjusted earnings rose 59% to $0.78 per diluted share. Analysts would have settled for earnings of $0.71 per share on sales near $293 million. Based on these results, Lumentum offered fourth-quarter guidance roughly in line with Wall Street's current consensus estimates of earnings near $0.67 per share on sales in the neighborhood of $289 million. Now what Lumentum fielded strong order volumes from telecom customers in the third quarter along with 32% sales growth in the laser components segment. Reading between the lines, it looks like companies up and down the networking food chain are finally getting ready to roll out 5G wireless networks and the faster backbone networks these wireless upgrades will require. The company is also making "good progress" on deal-making for its 3D sensor products, which could eventually become a growth-boosting division in its own right. It's easy to see why investors are getting excited about Lumentum's third-quarter report. 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 Anders Bylund 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 . || Can Intel Corp. Beat NVIDIA Corp. at Its Own Game?: Tweaktown's Anthony Garreffa, a technology journalist who has posted reliable information about future graphics processor products in the past, recently published an interesting article in which he offers some insight into chip giant Intel 's (NASDAQ: INTC) ambitions to enter the high-performance gaming graphics processor market . According to Garreffa, citing industry sources, Intel's aim is to "beat NVIDIA (NASDAQ: NVDA) " in the gaming graphics processor market. An Intel processor that integrates AMD graphics on the same package. Image source: Intel. For some context, NVIDIA is the market leader in graphics processors. Its products are far and away the best in the industry in terms of performance and power efficiency, and its brand strength among the gaming community is arguably unmatched. Still, Intel is making some of the right moves. It hired graphics industry veteran Raja Koduri to serve as chief architect of the company's cores and visual computing group and seems to be investing more financial resources into graphics. So, this leads us to the question: Can Intel beat NVIDIA, the market leader, at its own game? It won't be easy Right now, NVIDIA has a huge head start on Intel. While Intel's current graphics processors (which are embedded in its computer processors) are wholly unsuited for modern gaming, NVIDIA offers a large portfolio of high-performance graphics processors spanning a wide range of price points. Moreover, NVIDIA's graphics architectures today are miles ahead of Intel's, and the former certainly isn't going to sit still as the latter works to improve its own designs. On top of that, graphics processors are highly dependent on the accompanying driver software to achieve maximum performance and efficiency. NVIDIA has, easily, the best graphics driver team in the industry that's always tuning the company's drivers for each major video game title that comes out. Intel's graphics drivers, at least in my experience, leave much to be desired with performance inconsistency and game incompatibilities being quite common. Story continues Suffice it to say, simply being in the same league as NVIDIA, let alone beating NVIDIA at its own game, is a herculean task. Intel can be a strong No. 2 While I'm skeptical that Intel can ever be the market leader in high-performance gaming graphics, I do think that it has an opportunity to become a strong No. 2 player in the market over time. Today, Advanced Micro Devices (NASDAQ: AMD) is No. 2, but Garreffa doesn't seem to have a bright view of AMD's prospects in graphics going forward, saying that it's in a "downward spiral" and even going so far as to refer to its efforts as "non-direction-no-action-at-all." AMD's graphics processors are generally less power-efficient than NVIDIA's parts. Moreover, while NVIDIA is reportedly planning to release graphics processors based on its new Turing architecture for gaming later this year, AMD is likely to continue selling its current Vega architecture-based products (which are already inferior to NVIDIA's current Pascal architecture-based products). If Intel's graphics efforts are well-funded and well-run and if it commits to pursuing this market for the long term instead of tucking tail and running at the first signs of trouble (as it did in the mobile applications processor business ), then I think Intel will find success as a strong competitor to NVIDIA. 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 Ashraf Eassa owns shares of Advanced Micro Devices and Intel. The Motley Fool owns shares of and recommends Nvidia. The Motley Fool recommends Intel. The Motley Fool has a disclosure policy . || Billionaire Tom Benson, Longtime Owner of the New Orleans Saints, Dead at 90: Tom Benson, the billionaire who bought the New Orleans Saints football team and New Orleans Pelicans basketball team and kept them in the city of his birth, has died. He was 90. He died on Thursday at Ochsner Medical Center in Jefferson, Louisiana, outside New Orleans, according to the Saints website. He entered the hospital on Feb. 16 with the flu. Benson built his net worth of about $1.7 billion through automobile dealerships, banking concerns and real estate. At its peak, his automotive empire encompassed 27 dealerships in Texas, Louisiana and South Carolina, according to a biography on the websites of some of his dealerships. He sold brands including Mercedes-Benz, Honda and Chevrolet. His other holdings included San Antonio-based Lone Star Capital Bank and New Orleans television station WVUE-TV. In 1996, he sold Benson Financial Corp., a collection of banks located in the southern U.S., to Norwest Corp. for $78 million in stock. In 1985 he led the group that paid about $70 million to buy the Saints from founding owner John Mecom Jr., who was weighing whether to move the franchise. Benson became sole owner in 1992. The high point of his tenure came in February 2010, when the Saints defeated the Indianapolis Colts in the Super Bowl for the franchise's first title since its founding in 1967. The victory, which came almost five years after Hurricane Katrina devastated New Orleans, was a milestone in the city's recovery. 'We're Back' "Louisiana, by way of New Orleans, is back, and this shows the whole world," Benson exulted upon receiving the championship Lombardi Trophy. "We're back, we're back, the whole world, we're back." As a Mercedes-Benz dealer, Benson helped drive the talks that led Mercedes-Benz USA in 2011 to buy naming rights to the Saints' home, the Superdome in New Orleans. He was known earlier in his tenure for a dance, nicknamed the Benson Boogie, he would do on the field to celebrate victories. Story continues In 2012, Benson purchased professional basketball's New Orleans-based team, then called the Hornets, for about $338 million from the National Basketball Association, which had taken temporary custodianship of the team in 2010. The team adopted the name Pelicans in 2013, after Louisiana's state bird, the Brown Pelican. Thomas Milton Benson Jr. was born on July 12, 1927, in New Orleans to Thomas and Carmelite Benson and raised near the city's historic French Quarter. Auto Dealer He cut short his studies at Loyola University New Orleans to join the U.S. Navy during World War II, serving on the USS South Dakota, a battleship, during preparations for an invasion of Japan that never came to pass. After the war, he went to work. Loyola gave him an honorary degree in 1987. At 19, he joined the accounting division of Cathey Chevrolet in New Orleans. After eight years of work, he was asked to take over an ailing dealership in San Antonio, according to a 1987 Los Angeles Times profile. He became the owner of that dealership, which he called Tom Benson Chevrolet. Others followed. In 1966 he borrowed $1 million to buy 25 acres in north San Antonio, betting correctly that it was next in line for a spurt of commercial growth. See original article on Fortune.com More from Fortune.com Mark Cuban Denies Sexual Assault Allegation U.S. Olympians Request Bitcoin to Fund Gold Medal Dreams How to Watch the Pyeongchang 2018 Winter Olympics on TV and Online How to Watch the 2018 Super Bowl Online for Free YouTube Teams With Kevin Durant to Add Athlete Channels, Sports Programming || 3 Stocks You Can Buy and Hold for the Next Decade: Owning a stock for a decade or more may seem like a long time, but it's actually the best way to generate market-beating returns in the long term. And if you buy the right stock, you can generate incredible returns without doing a thing. Today, I think investors should be looking at Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) , NextEra Energy Partners (NYSE: NEP) , and Apple (NASDAQ: AAPL) as great buy-and-hold investments. Each has their own competitive advantage and has a business that's built to last. Coins with small plant on them. Image source: Getty Images. Alphabet Alphabet's Google is central to the internet for millions of people (myself included), and the company has built an insanely profitable business on the search engine at its foundation. The company uses data from everything from our search history to emails to deliver relevant ads and has built a massive advertising business on that. I think search and Google will continue to grow, but the other businesses in Alphabet are what make this a long-term winner . GOOG Revenue (TTM) Chart GOOG Revenue (TTM) data by YCharts . Alphabet's investments in new businesses will keep it relevant for decades to come. Waymo is a leader in self-driving vehicles, Google Fiber is a leading high-speed internet provider, and Calico is developing health and well-being solutions. These are on top of equity investments Alphabet has in Slack, Airbnb, Uber, Lyft, Stripe, and many more. Even if Alphabet's core business begins to fade -- which we see no sign of today -- the investments in strong businesses both within and outside of Alphabet will make this company a great stock for years to come. NextEra Energy Partners If you're not familiar with renewable energy yieldcos, NextEra Energy Partners is a company worth looking into. It owns 3.7 gigawatts (GW) of renewable energy assets that have contracts to sell electricity to utilities with an average of 18 years remaining. What's great about renewable energy projects is they act like bonds for a yieldco buying them. NextEra Energy has a strong track record of buying projects that are accretive, or grow the dividend over the long term, to the current $1.54 per share dividend, which yields 3.8%. Plus, the low dividend actually makes it easier for NextEra Energy Partners to acquire projects using a combination of newly issued debt and equity because a low dividend yield makes its cost of capital lower than competitors'. Story continues There aren't many successful yieldcos in the market today, but NextEra Energy Partners has been a winner because it's backed by a big utility ( NextEra Energy ), it has a large pipeline of projects that can be dropped down from the utility, and it has a low dividend yield that makes accretive acquisitions possible . That's a recipe for success in energy today. Apple There's never been a cash machine quite like Apple. In the past year alone, the company generated $52.3 billion in free cash flow, and that flow of cash doesn't show any signs of slowing. The iPhone drives the bulk of the company's business and there are now hundreds of millions of the smartphones in circulation, but other Apple products -- from Macs to iPads to AirPods -- play a role in Apple's business, too. The Apple ecosystem is really something no company can match today and it's locked hundreds of millions of consumers around the world into Apple products. Once you're within it, it's easy to add more and more products, eventually adding services like Apple Music, iCloud storage, and soon streaming TV, as well. Apple's incredible products and resulting cash flow are great, but let's not forget about its net cash balance of $181.2 billion . That's a balance sheet that can withstand any market turbulence or competitive pressure in tech. Apple is built to last for the long term. Building a long-term portfolio The market can be volatile and unsettling at times, but Alphabet, NextEra Energy Partners, and Apple are all built to withstand turbulence. They're stocks I would be comfortable owning for a decade or more. 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 Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Travis Hoium owns shares of Apple and NextEra Energy Partners. The Motley Fool owns shares of and recommends Alphabet (A shares), Alphabet (C shares), and Apple. 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 . || Will $1 Million Be Enough in Retirement? It Depends Where You Live: When we talk about saving for retirement, we're often told that a $1 million nest egg is the magic number to aim for. But depending on where you live as a senior, $1 million may not get you very far. GOBankingRates analyzed the buying power of $1 million across all 50 states and found that it might last for less than 12 years in retirement, or it might last upward of 26 years, depending on your zip code. It pays to review this data because it could not only inform your decision on where to retire, but also prompt you to boost your savings efforts during your working years. Senior couple holding cocktails outdoors Image source: Getty Images. Here's where $1 million won't get you very far Those states that tend to have the highest cost of living in general are also the least retiree-friendly, monetarily speaking. In Hawaii, for example, a $1 million nest egg will last just 11 years and 11 months on average when you factor in costs such as housing and groceries, which are higher there than in any other state in the nation. Meanwhile, a $1 million nest egg will typically last for 16 years and five months in California and 17 years in Alaska. Chalk it up to high housing prices for the former and high food and consumer goods costs for the latter. Moving over to the East Coast, we find that a $1 million nest egg in New York will last for 17 years and one month on average, mostly due to outrageous housing costs. And retirees won't fare much better in Massachusetts, where $1 million will last 17 years and four months for the typical retiree. And here's where $1 million will last much longer On the other hand, a $1 million nest egg will serve you pretty well in Mississippi, where you'll get a good 26 years and 4 months of covered expenses out of that sum. In Arkansas, $1 million will enable the average senior to cover living expenses for 25 years and six months, and in Oklahoma, that sum will last for 25 years and two months. If you don't mind the cold, you'll do pretty well with a $1 million savings balance in Michigan. That sum will last the typical senior for a full 25 years. The same holds true for retirees who choose to settle down in Tennessee. Make sure your savings last If you're intent on retiring comfortably (which you should be), there are certain steps you can take to ensure that your savings hold up, regardless of where you live. For one thing, save more. There's no rule stating that once you hit the $1 million threshold, it's time to stop, so aim to max out your IRA or 401(k) during the latter part of your working years, even if you have saved nicely to date. Those 50 and over can contribute up to $6,500 a year to an IRA and $24,500 a year to a 401(k). Max out the latter for just five years, and you'll boost your nest egg by $122,500 without factoring in investment performance. Story continues Once you've established your nest egg, you'll want to keep it invested smartly to ensure an appropriate amount of growth during retirement. To this end, resist the urge to dump your stocks the minute you stop working. Holding stocks as a senior will allow your savings to grow even once you're no longer actively contributing, thus allowing that money to last longer. But don't go crazy with stocks, either. If the market takes a major dip and you're forced to sell investments at a loss because you need the money, you'll risk running out of it later in life. Rather, aim for a relatively equal distribution of stocks and bonds during your earlier retirement years, and gradually shift away from stocks over time. Finally, if you are going to retire in a more expensive state, you may need to get creative about generating extra income as a senior since your nest egg itself will only get you so far. Thankfully, you have plenty of options in this regard. You can try renting out a portion of your home, monetizing a hobby, or consulting part-time in your former field, to name just a few. Knowing how well your savings will hold up can help you make smart decisions about where to retire. That said, don't give up on living out your dream just because your ideal locale is pricier than some of its counterparts. If you've always wanted to retire in Hawaii, you may have other means of generating income that allow you to live there comfortably, even if you've only amassed $1 million to date. The key is to be informed as well as flexible in your approach to spending and earning money. 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 . View comments [Random Sample of Social Media Buzz (last 60 days)] The current value of BTC at 21:24:06 on 31/03/2018 (AEST) is $9,220.00 AUD. #bitcoin #australia || A cotação atual do Bitcoin é de R$28.300,00 subindo 0.50% na última hora! #cotacao #BTC || FACT: 9 Jul 2016. 5 months ahead of schedule, the miner's block reward was halved to 12.5 BTC for successfully solving a block. || USD: 107.780 EUR: 132.250 GBP: 151.064 AUD: 82.559 NZD: 77.591 CNY: 17.115 CHF: 110.510 BTC: 914,513 ETH: 62,800 Fri Apr 20 23:00 JST || Its 30 minutes past the hour time to beg mrbeastyt for a bitcoin pic.twitter.com/Vm8XwD4NA3 || Apr 11, 2018 05:30:00 UTC | 6,856.20$ | 5,544.60€ | 4,834.70£ | #Bitcoin #btc pic.twitter.com/SFlOV6ERpS || 04/18 22:00現在(Zaif調べ) #Bitcoin : 867,865円↓0.12% #NEM #XEM : 39円↑2.63% #Monacoin : 392円↓0.76% #Ethereum : 55,600円↑0% #Zaif : 1円↑0% || #crypto price changes last hour $CFI +15.02% $GBG +7.31% $VRM +6.18% $RADS -5.63% $PKB -2.71% $NMR -1.60% #bitcoin #cryptocurrency || #Binance $SNT $ETH EMA20/EMA50 Golden Cross occured at 1-Day timeframe. Current Price: 0.00024575 #bitcoin #altcoinpic.twitter.com/RzgrcubfM6 || No necesitas ser un experto, dale vida y vistas a tu página con un #WebHosting a partir de $4.00 USD/Mes https://truxgohosting.com/hosting.php  #Bitcoin #BBVA #MasterCard #PC #Blogs #Informate #DataCenter
Trend: down || Prices: 9043.94, 8441.49, 8504.89, 8723.94, 8716.79, 8510.38, 8368.83, 8094.32, 8250.97, 8247.18
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 2015-03-03] BTC Price: 281.70, BTC RSI: 69.62 Gold Price: 1204.00, Gold RSI: 40.65 Oil Price: 50.52, Oil RSI: 51.55 [Random Sample of News (last 60 days)] Despite Senate Win, Keystone Pipeline Still Clogged By Politics: After weeks of debate over climate change and renewable energy issues, the U.S. Senate approved legislation that will allow TransCanada Corporation (NYSE: TRP ) to move forward with its Keystone XL oil pipeline. The project will permit the company to move roughly 800,000 barrels of Canadian crude through Nebraska to Gulf Coast refineries. However, although the legislation has made it through both the House of Representatives and the Senate, it still faces the approval of President Obama, who previously threatened to veto. Veto Could Be On Its Way The bill is expected to hit Obama’s desk within the next few days, where the president will have to determine whether or not he will use his executive power to veto. If the president does veto the bill, a two-thirds vote in the House and the Senate can reverse the decision. Related Link: The Most Volatile Oil Stocks Are Involved In Shale Who Does Keystone Benefit? With the bill on its way to the Oval Office, investors are already beginning to place their bets on the direction the pipeline will take. TransCanada stands to benefit from the project’s approval, but exploration companies like Canadian Natural Resources Ltd (NYSE: CNQ ) and refiners like Valero Energy Corporation (NYSE: VLO ) will likely gain, as well. Construction companies like Deere & Company (NYSE: DE ) and Quanta Services Inc (NYSE: PWR ) are also expected to see a benefit from an uninterrupted stream of crude into the U.S. economy. Who’s Hoping For A Veto? A veto will directly benefit Enbridge Inc (NYSE: ENB ), which has already gained approval to build an alternative pipeline that will move crude from Alberta to British Columbia in 2016. Shipping companies are also hoping for a veto; railroad businesses like Canadian Pacific Railway Limited (NYSE: CP ) and Union Pacific Corporation (NYSE: UNP ) generate a significant amount of revenue moving the same oil that would be rerouted, so the pipeline’s construction would have a detrimental effect on their earnings. Small shipping companies that primarily operate on the coast of North America and within the States would also cheer a veto; Kirby Corporation (NYSE: KEX ) is one such firm that may lose a substantial amount of its business if the pipeline is built. Story continues See more from Benzinga Bitcoin Was Used To Fund ISIS, Report Says Why Didn't The Fed's 'Patience' Translate Into Market Gains? A Different Kind Of Bowl Lights Up Super Bowl XLIX Sales © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || The most interesting 3D printers introduced (so far) at CES 2015: It’s difficult to believe it was only a year ago that 3D printers became a common sight at CES. They are back again this year, with a whole range of startups and established firms flexing their maturing lineups of machines. This is what 3D printing will look like in 2015. The staples Well-established players like MakerBot and 3D Systems aren’t likely to release any major updates to the flagship desktop machines they debuted last year at CES, but plenty of other companies are willing to fill that void. Ultimaker , now three years old, expanded beyond its Ultimaker 2 with the Ultimaker 2 Go and Ultimaker 2 Extended . The $1,450 Go is smaller and lacks a heated bed. The $3,030 Extended is bigger, faster and capable of printing in finer detail. They have the same screen and touch wheel as the Ultimaker 2. I noted in November that the Ultimaker 2 is becoming a staple in office environments, so it’s exciting to see the company diversifying. The full lineup of Ultimaker 3D printers. ROBO also came to CES with an expanded lineup. Its $799 R1 is now joined by the $1,500 R2 and $10,000 R MEGA, according to 3Dprint.com . The R2 builds on the R1’s features with additions like a second print nozzle, LCD screen and larger 10 x 10 x 10 inch build volume. The R MEGA’s $10,000 price isn’t a typo; the enormous machine has a 39 x 39 x 39 inch build area. The HD-R by Airwolf isn’t quite that massive, but it’s still big for a desktop machine. It prints objects up to 11 x 8 x 12 inches in size and has add-ons like a camera and Wi-Fi connectivity. At $4,595, its price is also big. The price leaders ROBO ‘s lineup also extends to the new R MINI, which will sell for $399. It prints a tiny 4.5 x 4.5 x 4.5 inch build volume. It sacrifices a few features like Wi-Fi and multiple nozzles to hit its price tag, but entry-level users just looking for a cheap machine probably won’t mind. The da Vinci Junior is smaller and simpler to use. Taiwan’s XYZprinting seized on CES to keep spitting out new printers. The $349 da Vinci Junior isn’t actually that much cheaper than XYZprinting’s already low-priced da Vinci 1.0, but it looks a whole lot easier to manage. The 1.0 was enormous and unpolished. The Junior has more modern features like a quick-release print head. And it’s a lot smaller. Excellent. Story continues It also put a price on its Nobel 1.0, a stereolithographic 3D printer. It will cost $1,499 and ship in the third quarter of 2015. $1,499 might not sound so low, but it is for this technology. SLA uses a laser to cure liquid plastic layer by layer. It has traditionally cost a lot more than the fused deposition modeling technique found in most desktop printers. In its typical style, XYZprinting is sprinting to market with its first SLA machine. The sweet I don’t know about you, but all this talk about 3D printers is making me hungry. 3D Systems announced its latest food machine , a chocolate printer built during its partnership with Hershey’s . The CocoJet prints delicious, gooey chocolate layer by layer, just like in those Hershey’s 3D printing videos. It complements the sugar printers 3D Systems debuted last year (and still has yet to ship). Oh, and there’s one more machine from XYZprinting . The company has been demoing its Food Printer for a few months now, and finally brought it stateside for CES. It prints unbaked cookie dough and chocolate decorations. It will cost around $500 and ship out in mid-2015. The futuristic Spectrom adapts 3D printers to print in a full range of colors. 3Dprint.com reported another interesting tidbit of news from ROBO : It plans to integrate Spectrom ‘s full-color 3D printing technology into its printers, starting with the R1. Spectrom is an adapter invented by two University of Wisconsin students that allows most printers to make multicolored prints. It doesn’t print with multiple spools of different colors of plastic; instead, it actually blends colors to achieve a full spectrum. That’s pretty much unheard of in 3D printing, especially for a desktop machine. A drone with a 3D printed body and conductive strips. The chip and motors are embedded. If you’ve been aching to print yourself a new iPhone, your day has not come quite yet. But it’s on its way. Voxel8 , which draws its founding team from Harvard, announced an interesting hybrid machine that prints both plastic and conductive ink — the materials necessary to print rudimentary electronic devices. A developer version of the printer will begin shipping in late 2015. The $8,999 machine is a good-looking, desktop-sized printer with smart features like an auto-leveling print bed and touchscreen. Autodesk’s new Wire 3D software will power the design process. That’s what we have seen so far, and it’s only Tuesday. I am personally excited for XYZprinting and Ultimaker’s smaller, cheaper machines and the coming wave of electronics printers. It’s also great to see Airwolf, ROBO and their peers continue to mature from humble beginnings. Image copyright Ultimaker. Related research and analysis from Gigaom Research: Subscriber content. Sign up for a free trial . The legal challenges and opportunities for 3D printing A market analysis of emerging technology interfaces Bitcoin: why digital currency is the future financial system More From paidContent.org Cars aren’t just connecting to the internet; they’re connecting to everything || 10 pieces of tech speak we should trash in 2015: Time to circle back, tear down silos and pivot on those deliverables: 2014 was a banner year for the tech industry — at least when it came to spouting jargon. And while everyone has finally dropped the dreaded “open the kimono,” a whole new series of cliches are on the march. So for the good of tech types everywhere, here’s a ranked list of overused phrases from last year that we can all stop saying (or say a little less) in 2015. Feel free to add any of your own in the comments below. 10) We take users on a journey Unless your company sells cars, boats orhoverboards, it’s a good bet your company doesn’t take users far beyond their living rooms. So skip the cliched travel metaphors and just say what the damn product does. 9) “Like peanut butter and chocolate” This phrase is popping up as a way for big tech company execs to describe the serendipitous discovery of complementary business units. It’s a tasty metaphor the first time you hear it — but goes over more like curdled spinach the 10th time. 8) Tech company X’s terrible, horrible, no good, very bad day Applehad one. So didUber. So didSony. The rest of us will too if tech reporters don’t stop riffing on the title of Judith Viorst’s 1974 children book in a failed stab at hilarious hyberbole. 7) Startup “story tellers” Expertssayyoung companies need to hire “story tellers” to share their vision/shake money from VC’s. The term is smarmy and the act is unnecessary. Yes, a narrative is important, but start-ups looking for the right words can just turn to the PR firms they’re already paying. Or in the case of AOL, keep paying the company’s “digital prophet”Shingyto do whatever the hell he does. 6) Ninjas and gurus There a still handful of diehards out there who think this is a witty way to convey expertise. If you’ve somehow forgotten to remove “ninja” and “guru” from your Twitter or LinkedIn profiles, do so quietly before you get sent back to 2010 where you belong. 5) “We see around corners” Hey marketers, if you want customers to think your client can see into the future, better stop using a cliche from the past. 4) Cloud/cloud-based/in-the-cloud In 2014, a deluge of corporate rebranding meant the end of any meaningful distinction between “in the cloud” and “on the internet.” In 2015, let’s see how the jargon slingers parse the mainstream adoption of SaaS, PaaS and IaaS. 3) Bitcoin is like the internet in 1994 In the award for crummy currency of the year, bitcoinbeat outeven the plummeting ruble. Meanwhile, bitcoin boosterslike Circleand the boys atAndreessen Horowitzkeep trotting out Netscape and other cusp-of-the-internet analogies in a bid to keep the faith. They’re going to need a new metaphor — or better yet some actual bitcoin adoption — if they want this thing to still going to be around in 2016. 2) Disrupt/Disruption Most startups and even PR people got the memo that these terms are not just obnoxious, but stale, stale, stale. VC Benedict Evans might be on to something when he points to a possible successor term: Note for 2015: destabilise is a more useful term than 'disrupt', which is now drained of all meaning. — Benedict Evans (@BenedictEvans)December 30, 2014 Photo by Oli Scarff/Getty Images 1) Sharing economy Sharing is a positive term to describe free, benevolent acts among friends. Paying for the temporary use of cars, homes or labor is not sharing — no matter how much the likes of Uber and Airbnb invoke the phrase to score points in theirPR battle with regulators. While “sharing economy” is still common currency in tech circles, 2015 should be the year it gets chucked. Let’s follow Fred Wilson’sexampleand use a grown-up term (“rental economy”) as a proper description for this white hot part of the tech sector. Image copyrightNick Harris via Flickr CC. Related research and analysis from Gigaom Research:Subscriber content.Sign up for a free trial. • 4 frameworks for understanding industry change • Bitcoin: why digital currency is the future financial system • Workplace tools and tasks that will change in 2015 More From paidContent.org • 10 pieces of tech speak we should trash in 2015 || Bitcoin Could Make Banking A Possibility In Africa: Bitcoin has been the subject of a widespread debate over whether or not cryptocurrencies will catch on and become a viable currency adopted across the world. While the current user base remains relatively small and confined to the tech crowd, some say bitcoin may find its calling in poor areas where banking is almost non-existent. Banking Options In Africa Limited In Africa, the majority of the population does not have a bank account and relies on money transfer operators like Western Union and MoneyGram in order to send and receive cash. However, the fees for such services are typically around 12 percent; meaning families who are often in dire need of every cent are missing out on a sizable portion of cash because of the service charge. Blockchain Reduces Service Charges Enter bitcoin. Supporters for the cryptocurrency say bitcoin’s blockchain technology would allow individuals to transfer money to one another with drastically lower service charges and much shorter wait times. In Ghana, Beam is one business that has already started to make this idea a reality. The company allows people to convert bitcoin that has been sent from abroad into the local currency for just a 3 percent service fee. The company’s founders are also planning “Value Remittances”, a service that will give people in other countries the ability to pay Ghanaians’ water and electric bills using bitcoin. Bitcoin Isn’t Ready To Service Africa Although the benefits of using bitcoin in Africa are plentiful, critics say the cryptocurrency hasn’t come far enough to be a viable option. Many banks around the world are still wary about using the currency and merchants in Africa have yet to adopt bitcoin as a payment method. Additionally, a sense of mistrust will likely keep Africans themselves from wanting to use bitcoin and their experience using Western Union or MoneyGram is likely to keep them coming back. Related Link: New York Weighs Benefits Of Bitcoin Integration Story continues Volatility An Issue Bill Gates remarked earlier this year that bitcoin wasn’t feasible in poor nations. He cited bitcoin’s volatility as a reason his own charity isn’t looking to use bitcoin, and that the currency alone wouldn’t be able to solve global payment challenges. Gates said poor nations wouldn’t benefit from a currency whose value rises and falls so much against the local currency, so for now, bitcoin wouldn’t benefit such countries. See more from Benzinga Colorado Launches The First Weed-Based Job Seeker Site Starbucks Makes Getting Your Caffeine Fix Even Easier Greece Bailout Talks Grind To A Halt, Markets Reconsider Possible 'Grexit' © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Why Investors Should Beware of Bitcoin: If you timed it right -- and that's a big if -- you bought a single bitcoin for $13.30 on New Year's Day 2013 and sold that slice of digital currency for about $1,150, less than a year later, on Dec. 4. That's more than 86 times the original investment. Wow. If you timed it wrong, you invested that same day and saw the value plummet more than half by Dec. 22, only 18 days later. Ouch. Assuming you held that bitcoin longer, from October 2013 ($100) to mid-January 2015, you'd have doubled your money. But you'd also be biting your nails, as the currency has dropped more than 30 percent between Jan. 1 and Jan. 15, when the price hit $207. So is now a good time to buy bitcoins ? Or is it ever a good time to invest in them? Financial experts from all corners of the traditional investment field answer with a resounding "no," while digital entrepreneurs and their ilk say "yes," often to the point of bullishness. Throughout 2014, the Securities and Exchange Commission kept a close watch on bitcoin activity. In May, it issued a warning that "the rise of bitcoin and other virtual and digital currencies creates new concerns for investors. A new product, technology, or innovation -- such as bitcoin -- has the potential to give rise both to frauds and high-risk investment opportunities." "I'd never recommend anyone 'invest' in bitcoins," says Jeff Reeves, editor of InvestorPlace.com and author of "The Frugal Investor's Guide to Finding Great Stocks." "It's barely even a functional currency, let alone an investment vehicle, and the risks of volatility are enormous. It's a quirky little tech phenomenon, not an investment or asset class." "A bitcoin has no intrinsic value," adds Greg McBride, senior vice president and chief financial analyst at Bankrate.com. "There's no underlying asset from which a bitcoin's value is derived. Rather, the price is based on the 'greater fool' theory. In other words, that someone else in the future will pay more than you did today." Story continues Bitcoins are a decentralized digital currency that launched in 2009. No government or central bank backs it, nor is its creator known (his alias is Satoshi Nakamoto). Bitcoins have also made headlines not simply for their wild fluctuations , but also because they are nearly impossible to trace, making them a favorite of thieves and drug dealers. If they're stolen via computer hack, good luck, says Kim Caughey Forrest, vice president and senior analyst of portfolio management at Fort Pitt Capital Group in Pittsburgh. "There are rules about what happens if someone breaks into the bank and steals and how the account owners are compensated. That is missing from the bitcoin world." She also notes, "We would never tell a client to buy bitcoins as an investment. How can I ever tell if a bitcoin is over, under or fairly valued? I can't. Neither can anyone else. This is what makes an investment. Otherwise, it's a lottery ticket." That said, you may be able to buy lottery tickets with bitcoins in the future. Online retailers such as TigerDirect and Overstock.com, along with the Sacramento Kings, accept the currency. You can even make donations with them at nonprofits, such as the Electronic Frontier Foundation and higher-education institutions, including the University of Puget Sound. Meanwhile, the Digerati have embraced bitcoins as a sophisticated method of making financial transactions and currency investments . "I think the price is getting close to being extremely attractive," says Vadim Telyatnikov, CEO of AlphaPoint, a New York-based digital currency exchange platform that supports bitcoin. "But I wouldn't invest quite yet, as I believe the price may continue to decline in the short term." He adds, "It's possible to intelligently predict how bitcoin will perform long term" using a "simple moving average" calculated by adding closing prices of the previous 200 days, and then dividing by 200. "That result is plotted on a chart and updated every day, so that a trend upward or downward can be identified," Telyatnikov says. But what of the recent steep price drops ? It may sound hard to believe, but some see a silver (or bitcoin) lining. "With such extreme instability, we knew the results would be surprising, and we weren't disappointed," says Mike Kane, CEO and co-founder of Hedgeable, a digital wealth manager that can invest retail clients directly in bitcoin. "Most bitcoin insiders are still bullish despite the massive amount of negativity." Based on Hedgeable's survey of five groups, from media members to venture capitalists and angel investors, he forecasts bitcoins hitting all-time highs in three years, which would put it over the $1,150 mark. Although bitcoins are possibly in a "buy low" mode now, or headed there, daring investors may want to take the same approach as smart gamblers in Vegas : Don't bet more than you can afford to lose. Mark Williams, who teaches finance at the Boston University School of Management and is a former bank examiner for the Federal Reserve Bank, advises bitcoin buyers to beware. "If investors, after understanding the extreme price risk, still want to invest in bitcoin, they should only commit amounts that, if lost, won't impact their livelihood," Williams says. Even if you're in such a position, "don't invest in something you don't understand," says Sidney Bostian, an instructor at Virginia Commonwealth University's School of Business and a senior advisor at Cornerstone Valuation in Richmond. "If you aren't interested in the technology, or the general topic of cryptocurrencies, my recommendation is to stay away." More From US News & World Report Debunking 8 Common Investing Myths 15 Sectors to Watch in 2015 Beware of These 10 Scary Investments || Coin Outlet Acquires LibertyX Bitcoin ATM Network: BURLINGTON, NC--(Marketwired - Mar 2, 2015) - Coin Outlet Inc is taking another step towards being the biggest Bitcoin ATM network by acquiring LibertyX's (formerly Liberty Teller's) ATM network. The four LibertyX machines will be rebranded as Coin Outlet ATMs but will still remain in their existing locations. LibertyX gained fame for launching the very first Bitcoin ATM in the United States at Boston's South Station, only a year ago. LibertyX Co-Founder Chris Yim said the decision to sell the ATM arm of their company to Coin Outlet was "a natural evolution of their business and allows them to scale quickly and focus on adding partners and services to their existing 2,500 cash-to-bitcoin store locations." Coin Outlet is also pleased to announce a newly developed backend network ecosystem that the Lamassu machines hook into. This system will allow any existing Bitcoin ATM machine or existing traditional ATM machine to exist on the Coin Outlet platform, regardless of the hardware platform of that machine. With this development, Coin Outlet will have the capital-raising ability to acquire existing viable ATM markets with proven revenue streams, and grow rapidly. Eric Grill, Coin Outlet's CEO, explains, "Integrating other hardware solutions into our backend network is part of our expansion strategy as it opens the door for more acquisitions and further scaling of the Coin Outlet network." Coin Outlet, INC:Coin Outlet, INC. is a rapidly growing startup that manufactures and operates AML/KYC-compliant Bitcoin ATMs with two-way transaction functionality. It provides a convenient means for the general public to safely buy and sell bitcoins with cash. Coin Outlet is proudly supported by its lead investor Bitcoin Shop, Inc. (OTCQB:BTCS) which is building a universal digital currency platform under the BTCS ("Blockchain Technology Consumer Solutions") brand. More information about Coin Outlet can be found atwww.coinoutletatm.comand investor information is atangel.co/coinoutlet-2 || Coin Outlet Acquires LibertyX Bitcoin ATM Network: BURLINGTON, NC--(Marketwired - Mar 2, 2015) - Coin Outlet Inc is taking another step towards being the biggest Bitcoin ATM network by acquiring LibertyX's (formerly Liberty Teller's) ATM network. The four LibertyX machines will be rebranded as Coin Outlet ATMs but will still remain in their existing locations. LibertyX gained fame for launching the very first Bitcoin ATM in the United States at Boston's South Station, only a year ago. LibertyX Co-Founder Chris Yim said the decision to sell the ATM arm of their company to Coin Outlet was "a natural evolution of their business and allows them to scale quickly and focus on adding partners and services to their existing 2,500 cash-to-bitcoin store locations." Coin Outlet is also pleased to announce a newly developed backend network ecosystem that the Lamassu machines hook into. This system will allow any existing Bitcoin ATM machine or existing traditional ATM machine to exist on the Coin Outlet platform, regardless of the hardware platform of that machine. With this development, Coin Outlet will have the capital-raising ability to acquire existing viable ATM markets with proven revenue streams, and grow rapidly. Eric Grill, Coin Outlet's CEO, explains, "Integrating other hardware solutions into our backend network is part of our expansion strategy as it opens the door for more acquisitions and further scaling of the Coin Outlet network." Coin Outlet, INC:Coin Outlet, INC. is a rapidly growing startup that manufactures and operates AML/KYC-compliant Bitcoin ATMs with two-way transaction functionality. It provides a convenient means for the general public to safely buy and sell bitcoins with cash. Coin Outlet is proudly supported by its lead investor Bitcoin Shop, Inc. (OTCQB:BTCS) which is building a universal digital currency platform under the BTCS ("Blockchain Technology Consumer Solutions") brand. More information about Coin Outlet can be found atwww.coinoutletatm.comand investor information is atangel.co/coinoutlet-2 || How tech trials force a choice between bad people and bad law: Of course Ross Ulbricht was guilty. Despite his far-fetched claims of mistaken identity, a New Yorkjury confirmedthe obvious: that Ulbricht (aka Dread Pirate Roberts) was the criminal mastermind who took on a villain’s name, and became rich by running an online marketplace that sold any drug imaginable. All the same, protestors on the internet and at the courthouse still insisted Ulbricht was innocent. More broadly, the Dread Pirate (who is now awaiting sentencing) also enjoyed sympathy from many in the tech press, which often downplayed the bad things he did, and instead cast the FBI as the villain in the case. Such moral indulgence is odd, and doesn’t extend to Ulbricht alone. Other tech rogues, including a corpulent charlatan and a Nazi sadist, also enjoy public sympathy. But why? A big part of it may lie with the government’s heavy-handed approach to internet-related crime. Bad people Ross Ulbricht didn’t start out bad. Indeed, accounts of hispast lifefrom his mother and Ulbricht reveal a very different sort of person: an Eagle Scout, and then a bright and sensitive physics student who worked hard to build a used books company. But then he became someone else. He started the Silk Road marketplace, which began as a relatively benign forum for finding magic mushrooms, but then devolved into a free-wheeling playground for hard drugs, forged documents and prostitution. The notorious bazaar also changed Ulbricht himself: FBI evidence from a seized laptop suggests that he attempted to hire hit mento murderthose he believed had betrayed him (the “hit men” turned out to be government agents but Ulbricht believed they were real). This tragic arc, which saw the Eagle Scout become the Dread Pirate Roberts, may explain some of the sympathy for Ulbricht. But that’s hardly the case for Weev, another famous figure in internet circles who is also facing prosecution by the Justice Department. Weev, whose real name is Andrew Auernheimer, wassentencedto three years in prison for what the government describes as a hack on AT&T. But he is better known for his other legacy as one of the cruelest trolls on the internet, whose antics haveexposed womento death threats. And last year, Weedreinvented himselfas a Jew-hating White Supremacist. Despite all this, many tech outlets hailed an appeals court decision last year to vacate Weev’s conviction on the hacking charges on procedural grounds, and to release him from prison. And while Weev doesn’t exactly enjoy public sympathy,storiesof hislegal battleoften elide the bad things he has done. Other antiheroes of the tech worlds include Julian Assange, theself-aggrandizingWikileaks leader who faces sexual assault accusations in Sweden, and outlaw music mogul Kim Dotcom. Dotcom has done a litany of bad things, including making millions from purloined movies and allegedlyrattingon his rivals, but he is still hugely popular with many internet communities. The300-pound fugitiveis even dabbling in mainstreampolitics in New Zealand, where he is living while he fights U.S. efforts to extradite him to face multiple criminal charges. The celebrity-style adulation that Dotcom and the others receive is no doubt frustrating for the law enforcement officials trying to convict them. The reason for it, however, is not just because the outlaws are good at gulling the public (though that’s part of it), but because of people’s legitimate misgivings about the laws that the U.S. is using to prosecute them. Bad laws Aaron Swatrz was a genius so beloved in the tech community that a film-maker made an acclaimed movie about him called “The Internet’s Own Boy.” But he was also a criminal in the eyes of the government, and some believe the Justice Department’s relentless effort to prosecute led the 26-year-old Swartz tocommit suicidein his Brooklyn apartment two years ago. What crime led to this end? In 2009, Swartz used MIT computers to download millions of academic articles from a database called JSTOR – articles whose authors are typically unpaid, but that are licensed to universities at high fees. His action may have been ill-advised, but hardly amounts to a serious crime. Nonetheless, the Justice Departmentcame at Swartzwith a law called theComputer Fraud and Abuse Actthat gave prosecutors discretion to seek a prison term of 35 years and a $1 million fine. The CFAA is a clumsy statute dating from long ago that relies on vague concepts like “unauthorized access,” and lawmakers have tried to reform it. Yet those efforts have so far failed, and the Justice Department keeps using it in all sorts of cases — including that of Weev. In the government’s view, Weev committed illegal hacking under the CFAA when he “accessed” the AT&T website to demonstrate a security flaw that spat out private email addresses. Skeptics, however, point out that Weev simply entered information into a public website available to anyone with an internet browser, and ask how this amounts to hacking. The CFAA also grounded one of the seven charges– “conspiracy to commit hacking” — on which Ross Ulbricht was convicted, although that charge was overshadowed by other elements of the trial (includinga theorythat the government itself had violated the CFAA.) Meanwhile, the CFAA is hardly the only questionable law that is at issue in tech-related prosecutions. Before the Silk Road case, Ulbricht’s mother madea forceful argumentthat her son’s prosecution should be seen through the lens of systemic abuse by the Justice Department of surveillance and drug laws. She has a point: whatever harms caused by Silk Road drug deals, they pale in comparison to the destruction wrought by America’s ruinous “war on drugs.” As for Kim Dotcom, his use of a mass piracy company to get rich is impossible to justify. But so too are many aspects of U.S. copyright laws, whoseabsurd termsand harsh penalties serve to benefit a narrow sector of the entertainment industry at the expense of the general public. Is it a surprise that knee-jerk attitudes to digital media by government and industry has led some to cheer for Dotcom instead of the industry that wants him prosecuted? The hard choice The cases against Ulbricht, Weev and Dotcom raise a dilemma because they can force us to choose between supporting a bad person or a bad law. A choice to convict such men may serve to legitimize unjust laws, while exonerating them amounts to giving them a free pass for unacceptable actions. The cases can be harder still since they often involve technology (like TOR, peer-to-peer tools and bitcoin) that is unfamiliar to average people, but that the government often characterizes as inherently suspicious and related to “hacking.” All of this helps to explain why the tech community can embrace antiheroes over Justice Department prosecutors who are apt to employ every legal tool at their disposal — even if it is one that is harsh or outdated. The solution then is to give the prosecutors better tools, and not simply more of them. If the U.S. government is going to retain credibility in its effort to go after what it sees as online bad guys, it will have to do a better job of defining crime, and matching crime to punishment. This story was updated on 2/15 to replace the word “charges” with “accusations” to describe the sexual assaultallegationsagainst Assange. Image copyrightWikipedia. Related research and analysis from Gigaom Research:Subscriber content.Sign up for a free trial. • Bitcoin: why digital currency is the future financial system • The software-defined data center shifts to the enterprise • How utilities are using modern data analytics More From paidContent.org • The Internet of Things has a new home on Gigaom Research || Bitcoin Gets A Makeover: Scandals like the Silk Road trials and the Mt. Gox exchange collapse have severely damaged the public’s perception of bitcoin and slowed the rate of adoption considerably. Worries about security and stability have kept the average investor from using the cryptocurrency despite growing enthusiasm among supporters about the possibilities that digital currencies provide. However, some bitcoin-based firms are looking to reverse public opinion by embarking on a bitcoin image makeover aimed at promoting the cryptocurrency among millennials who are most likely to use it. Bitcoin Targets Millennials Firms like Bitcoin Foundation, BitFury and BitGo are counting on ad agency TheAudience to rework bitcoin’s image and renew the enthusiasm that surrounded the cryptocurrency in 2013. The agency is planning to use online influencers to get bitcoin in front of millennials who will ultimately be the future of its adoption. Platforms like Twitter, YouTube and SnapChat will be vital to the campaign’s success and ‘microcelebrities’ with large followings online will be tapped to promote their own use of bitcoin. Related Link: Bitcoin And Tax Season - What You Should Know Bitcoin Bowl This is not the first time bitcoin has been force-fed to the public. BitPay tried to help the cryptocurrency go mainstream by signing-on to a college football bowl sponsorship and holding the Bitcoin Bowl. The mobile pay company ran its own TV ads during the game, and while BitPay gained some brand recognition, the campaign did little to wipe away bitcoin’s tarnished reputation. See more from Benzinga Wearables Not Just For Humans Anymore! Deal On Tehran's Nuclear Activities Makes Iran An Attractive Investment Investors Begin To Turn Toward Greece © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Gem Announces Major Bitcoin Security Platform Expansion With Integration of Hardware Security Modules and Global Partnerships: VENICE, CA--(Marketwired - Jan 28, 2015) - Gem (https://gem.co), the Venice-based Bitcoin startup offering a multi-signature security platform to Bitcoin developers, today announced a major shift in the future of Bitcoin security with the deployment of custom Hardware Security Modules (HSMs) from payment security giant Thales e-Security, now offered as part of Gem's standard multi-sig wallet offering. These HSM devices, used to protect military encryption keys and other mission critical secrets, secure more than 80% of global payment transactions. They include FIPS-140-2 Level 3 hardware-certified security, a tamper-resistant physical security mechanism that prevents intruders from gaining access to, using, or modifying sensitive private keys held within the cryptographic module, and are designed to operate within high-volume enterprise deployments. "Our engineers worked closely with the hardware team at Thales for months to develop a custom solution specifically for the Bitcoin industry," said Gem CEO and Founder Micah Winkelspecht. "The payments industry has been using this hardware technology for years. But we looked at every HSM on the market to find one that could support Bitcoin wallets, and none of them could do it, so we built it ourselves. Thales really came through for us, and the level of enthusiasm they have for our growing industry is incredible." With over 40 years of experience securing sensitive information, Thales e-Security -- a division of the $11B aerospace and defense giant, the Thales Group (EPA: HO) -- protects data for 19 of the 20 largest banks in the world and over 3,000 financial institutions worldwide, making it the largest provider of key security to the payments industry. "Bitcoin represents a compelling opportunity for both new entrants and traditional members of the payments ecosystem. As providers of the most trusted and widely deployed HSMs in the world, we are excited to work closely with Gem in this rapidly evolving market," said Richard Moulds, VP of Product Strategy at Thales e-Security. "Gem's focus on comprehensive Bitcoin security, deep technical expertise, and collaborative attitude has enabled them to rapidly incorporate the use of our HSMs at the core of their solution. By taking advantage of unique capabilities of these machines, Gem is securing Bitcoin transactions in a way that matches and exceeds security best practices that are a pre-requisite in the payments industry." Just as Thales has become the most recognized and widely used security provider for global payment transactions, Gem seeks to be the Bitcoin security provider of choice for the next wave of developers building Bitcoin apps and products. Their API optimizes the developer experience by providing an easy to use Bitcoin security platform that doesn't sacrifice security for convenience. "We empower Bitcoin companies to build incredibly secure products and services with our multi-signature platform. By abstracting away the hard parts of blockchain development, we offer our developers the simplest way to get up and running, giving them expert security by default," said Gem COO and former PayPal executive, Ken Miller. "The additional steps we've taken to generate and secure all Gem keys within FIPS certified HSMs is a first of its kind, and signals to the industry how serious we are about securing blockchain technologies." Gem's customers are equally pleased about the new HSM offering. Bitmo, a US based mobile payments company focused on incentivizing consumers and merchants through a seamless Bitcoin payment experience, will now be integrating Gem wallets into their platform. And last week, South East Asia's first multi-currency bitcoin wallet provider CryptoSigma announced they would be using the Gem development platform to secure their wallets. Gem's progression into hardware security fortified each company's decision. "Addressing our customers' need for security and giving them full control and manageability of their coins is our number one priority," said CryptoSigma CEO Aaron Siwoku. "Gem's platform offers our customers the security and flexibility they desire and allows us to focus on providing a superior product and user experience. Their addition of HSMs to store and protect all Gem keys just further reinforced to us how seriously they take protecting cryptocurrency." Bitmo Founder Michael Smallwood added, "The decision to use Gem's multisig solution was a no-brainer for us. Not only was their API easy to integrate, but we felt great knowing that our funds would be secured by the strongest solution on the market. The news that Gem will now be securing keys inside of HSMs custom built for our industry was yet another reminder of why we made the right decision partnering with Gem." Key features of the HSM integration and partnership with Thales include: • Physical security that includes the use of strong enclosures and tamper detection/response circuitry • Support for BIP32 Hierarchical Deterministic (HD) key derivation • Use of strong random number generated keys with the SECP256k1 elliptic curve to support interactions with the Bitcoin protocol "The year 2014 was all about multi-sig; now we're finally starting to see major adoption of that security standard by Bitcoin companies, and it's growing at an exponential pace," said Winkelspecht. "2015 is the year of hardware security. The great news is they work perfectly together... like peanut butter and jelly." For more information about Gem, please visit:https://gem.coTwitter: @GemHQFacebook:http://www.facebook.com/gemhqLinkedIn:https://www.linkedin.com/company/gem-hqGithub:https://github.com/gemhqInstagram: @GemHQ About GemGem, founded in 2014 by Micah Winkelspecht, is a simple and secure Bitcoin platform that allows developers to build feature-rich blockchain applications in minutes using less than ten lines of code. Gem's mission is to empower individuals to be sovereign over their own assets, starting with bitcoin. The Gem API leverages a host of security features such as multi-signature wallets, hardware security modules and multifactor authentication to provide an easy to use, comprehensive security solution for Bitcoin and blockchain apps, without ever taking possession of funds. Gem is located in Venice, CA. [Random Sample of Social Media Buzz (last 60 days)] BTCe Prices LAST: $250.97 BID: $250.00 ASK: $250.97 VOL: 19902.79 BTC http://bit.ly/Cryptoticks  || BTCTurk 556.42 TL Koinim 578.9 TL CampBx 226.00 $ BTCe 219 $ BitStamp 221.17 $ SCounter #Bitcoin #btc http://bitcoindunyasi.com  || #RDD / #BTC on the exchanges: Cryptsy: 0.00000011 Bittrex: 0.00000011 Average $2.4E-5 per #reddcoin 00:00:01 || In the last 10 mins, there were arb opps spanning 26 exchange pair(s), yielding profits ranging between $0.00 and $532.57 #bitcoin #btc || buysellbitco.in #bitcoin price in INR, Buy : 14038.00 INR Sell : 13601.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || 1 #bitcoin = $14.98 MXN | $1 USD #BitAPeso Precio: http://www.bitapeso.com  - Saturday 21st of February 2015 08:00 AM || Current price: 163.95£ $BTCGBP $btc #bitcoin 2015-02-27 05:00:13 GMT || In the last 10 mins, there were arb opps spanning 19 exchange pair(s), yielding profits ranging between $0.00 and $774.47 #bitcoin #btc || Current price: 239.33$ $BTCUSD $btc #bitcoin 2015-02-23 21:00:01 EST || Bitfinex Prices LAST: $225.70 BID: $225.71 ASK: $225.73 VOL: 58893.00 BTC http://bit.ly/Cryptoticks 
Trend: up || Prices: 273.09, 276.18, 272.72, 276.26, 274.35, 289.61, 291.76, 296.38, 294.35, 285.34
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 2016-09-27] BTC Price: 606.17, BTC RSI: 52.92 Gold Price: 1325.90, Gold RSI: 49.16 Oil Price: 44.67, Oil RSI: 48.73 [Random Sample of News (last 60 days)] LexisNexis Risk Solutions and start-up join to curb bitcoin money-laundering: (This August 2 story has been corrected to amend company name to LexisNexis Risk Solutions from LexisNexis) By Jemima Kelly LONDON (Reuters) - A company that provides banks with anti-money-laundering controls has teamed up with a bitcoin security firm to try to curb nefarious uses of the digital currency, such as drug trafficking and terrorism financing. LexisNexis Risk Solutions said the new service it has created with London-based startup Elliptic would bring bank-grade AML controls to bitcoin transactions, making the virtual currency more attractive to those who might want to use it for legitimate transactions LexisNexis Risk Solutions, part of multinational analytics firm RELX Group (REL.L), helps banks comply with AML regulation, using a database of 2.7 million global entities that could be involved in illicit transactions, such as those on sanctions and other watch-lists. It has shared that database with Elliptic, which monitors bitcoin transactions and can alert its clients - ranging from bitcoin exchanges to U.S. and European intelligence agencies - when money moves from bitcoin addresses that have been identified as bad actors. "This is a step toward making it (bitcoin) more mainstream and more acceptable," said Thomas Brown, of LexisNexis Risk Solutions. Bitcoin is a web-based digital currency that relies on complex algorithms to move money around quickly and anonymously with no need for a central authority to process transactions. That has made it attractive to a variety of users, including those who want to get around capital controls and those who support a currency that is free from government control for ideological reasons. But it has also attracted criminals, such as drug dealers and arms traffickers. "Today, if you see bitcoins transacting, you almost assume they're from someone who wants to be off the grid, or they're proceeds from illicit transactions," said Brown. Last month Elliptic said it was working with the Internet Watch Foundation to clamp down on the use of bitcoin for online child pornography. Story continues "The single biggest thing keeping mainstream financial services out of the (bitcoin) ecosystem is the inability to do bank-grade anti-money laundering controls," said Elliptic's head of business development, Kevin Beardsley. "The hope is that this will unlock a whole wave of companies being able to enter financial services with bitcoin." (Editing by Robin Pomeroy) || 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. || Flow's Summer and Back to School Initiatives Get Students Ready for the New Academic Year: MIAMI, FL--(Marketwired - Sep 19, 2016) - Thousands of students around the region are now primed for another school year, as Flow rolled out its summer camps and back-to-school initiatives around the Caribbean to support students and their families. Each year, Flow, the regional communications and entertainment provider, partners with local and national community groups to host youth development camps that provide a positive and fun learning environment covering everything from sports, technology and career development. As students get ready for the new academic year, Flow has embarked on its annual Back-to-School initiatives across the region to ensure that students are well prepared to head back to the classroom. Flow's Acting President, Michele English, stated, "We place a lot of emphasis on supporting and engaging youth throughout the Caribbean. We want to ensure that the programs we initiate are enjoyable and provide an environment that fosters learning and growth as we pursue our mission of 'Connecting Communities and Transforming Lives.'" In Barbados , Flow teamed up with the Ministry of Community Development to facilitate an "IT for Teens Summer Program" to sharpen kids' computer skills. The Company also launched a 'Flow Vision Summer Student Experience' giving teens invaluable insight into potential careers in Sales, Marketing, Accounts, Finance, Human Resources, Legal, Regulatory, IT, and Corporate Communications. Similarly, in St. Vincent , Flow hosted its Annual Internet Summer School program for children eight and older to teach them how to unlock the potential of the Internet. In St. Lucia , the focus was on the classroom of play. There, Flow teamed up with the Ministry of Youth Development and Sports to host the ' 758 Champions Tour ,' which gave sixth grade students a chance to meet with members of the island's Olympic team. They learned from past and present Olympians -- about the importance of discipline and character, not just in sports, but also as an approach to life. Story continues Then, just prior to the start of the new academic year, Flow launched its annual Back-to-School initiatives across the Caribbean. In Jamaica , Flow held its 7 th annual Skool Aid event -- the biggest back-to-school fair in the Caribbean that drew more than 30k children, parents and guardians this year. The highly anticipated event is a place where children get free medical and dental examinations; free haircuts and beauty consultations; free book bags and lunch kits; and discounted school supplies. The event helps ensure that students have what they need to head back to the classroom. After this year's event, one newspaper reported, "several parents praised Flow...saying the fair helped to ease the financial burden of back-to-school expenses." English added, "We are confident it's going to be a great year for Caribbean youth heading back to the classroom eager to embrace their education and experiences. We are proud to be a part of the process. The entire Flow family extends our best wishes for a successful school year to the children, teachers, school administrators and parents all around the Caribbean." 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 enable 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=3057593 Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=3057606 Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=3057653 Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=3057660 Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=3057662 Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=3057664 || What to Expect from Overstock.com (OSTK) in Q2 Earnings?: Overstock.com Inc.OSTK is slated to report second-quarter 2016 results on Aug 4. It is an online retailer that sells brand-name merchandise at deep discounts. Its offerings include bed-and-bath goods, kitchenware, watches, jewelry, electronics, sporting goods and designer accessories. Let’s see how things are shaping up for this announcement. OVERSTOCK.COM Price and EPS Surprise | OVERSTOCK.COM Quote Factors to Consider Overstock’s business has been hit by changes in Google search algorithms and rising competition in the e-commerce sector. In response, the company has intensified efforts on expanding its product reach, building its customer base and strengthening its international foothold. The company has partnered with Tmall in China, 11Street in Korea, Mercado LibreIguama in Latin America, Trade Me in New Zealand and Australia and Rakuten in the UK. Management has indicated more partnerships in the near future. It has launched a trusted partner marketplace as a part of its global expansion efforts. Management has also confirmed Overstock’s continued focus on improvement of customer experience and customer attraction and retention efforts. For this, the company is trying to bring in absolute customization and personalization of its marketing message and develop customer friendly mobile platforms and applications. Overstock has been a Bitcoin supporter for more than two years and has successfully leveraged the blockchain technology. The company is trying to establish relationships with major financial and capital market institutions to achieve the expected level of synergy between blockchain and cryptocurrency. The company has high hopes from its Club O loyalty program that includes Club O Gold and Club O Silver. The company is innovating with this program for years adding value to it continuously. Overstock has been engaged in legal battles with several brokerage firms over issues of stock price manipulation, most recently with Merrill Lynch. Merrill Lynch eventually settled by paying $20 million to Overstock.com and its co-plaintiffs. We expect its customer friendly initiatives, product and geographical expansion efforts and continuous efforts to reduce illegal stock manipulation and reform capital markets to act as major positives for Overstock in the to-be-reported quarter.Stocks That Warrant a Look Here are some companies that can be considered as our model shows that they have the right combination of a positive Earnings ESP and a favorable Zacks Rank to post an earnings beat this quarter: Avista Corp. AVA with an Earnings ESP of +2.33% and Zacks Rank #2. Alibaba Group Holding Limited BABA with an Earnings ESP of +28.95% and Zacks Rank #3. Paycom Software, Inc. PAYC with an Earnings ESP of +7.69% and a Zacks Rank #3. Want the latest recommendations from Zacks Investment Research? Today, you can download7 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 reportAVISTA CORP (AVA): Free Stock Analysis ReportPAYCOM SOFTWARE (PAYC): Free Stock Analysis ReportALIBABA GROUP (BABA): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research || Traders pick the best bets for Yellen's speech: The " Fast Money " traders made their last few bets ahead of Federal Reserve Chair Janet Yellen 's Friday speech in Jackson Hole, Wyoming. Trader Brian Kelly said he recently added a new position in the banks (NYSE Arca: KBE) . He said if Yellen makes hawkish statements on Friday, the banks could rally. If the Fed chair's statement ends up dovish, defensive assets like the utilities sector and gold miners are the places to invest, said trader Steve Grasso. Kelly said, however, that Yellen's potentially hawkish comments are already priced into the gold miners and other gold assets. On Wednesday, the gold miners broke below their 50-day moving average . But even with the recent move to the downside, the VanEck Vectors Gold Miners ETF (NYSE Arca: GDX) has soared 99 percent this year. "Gold, to me, appears to be in a long-run bull market. You buy the dips in that," he said. Disclosures: STEVE GRASSO Steve Grasso is long BA, CC, EVGN, KBH, MJNA, MU, OLN, PFE, PHM, T, TWTR, GDX. Grasso's kids 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. KAREN FINERMAN 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. Finerman is on the board of GrafTech International. 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, VXX, XLF, XOP, US Dollar UUP; he is short the euro and Japanese yen. || PowerBTC is Offering Higher Price for Bitcoin Sellers: NEW YORK, NY / ACCESSWIRE / August 1, 2016 / PowerBTC LLC ( www.PowerBTC.com ), a cryptocurrency trading company based in New York, today announces that the company has launched an attractive offer for Bitcoin sellers worldwide. https://youtu.be/h-cffzcrEI8 . The company is offering its clients the possibility to sell their Bitcoin for a price which is higher than the one offered by other cryptocurrency markets, depending on the amounts they intend to sell and the recurrence of their transactions with PowerBTC. Within this approach, the company keeps track of its clients and the amounts they sell by enlisting them within the company's secured data bases. All the information being saved is the clients' e-mail address and the amount of Bitcoin they have sold to PowerBTC. By filing this data, PowerBTC's operators are able to access the client's business history with the company and tailor special offers, encouraging the client to return for more and thus enabling a high retainment rate within the company's portfolio, while also developing the business in a sound and healthy manner. Such strategy aims to encourage both prospects and the existing clients of the company. Extracted from the company's transactions history, the price for Bitcoin on PowerBTC on July 29th was USD 734, while, on the same date, Blockchain's official price was USD 660. 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. Tom Clark, Founder and CEO of PowerBTC, expressed his confidence in the fact that the new strategy, together with the investment budget approved by the Board, has made just the right marketing combination in order to overcome the entire competition on the Bitcoin exchange market. Story continues PowerBTC LLC. is proud to offer not only very good business terms to its clients, but also excellent services and assistance throughout the entire transaction process. More information can be found on PowerBTC's official web-site: www.PowerBTC.com . CONTACT: Email : [email protected] Phone : (917) 979-2728 SOURCE: PowerBTC LLC || 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,Flowunveils 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 ofFlow Studyis 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 tovideo-based tutorialsviaFlow TV on Demand. Ricardo D. Allen, head ofOne 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. Getting started is simple --visitwww.flowstudy.co,'login' to register for a freeFLOW ID.Download the Flow Study app on your mobile device from theGoogle Play Storeto 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 CommunicationsCWC 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 GlobalLiberty 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 visitwww.libertyglobal.com. Image Available:http://www2.marketwire.com/mw/frame_mw?attachid=3058430Image Available:http://www2.marketwire.com/mw/frame_mw?attachid=3058433Image Available:http://www2.marketwire.com/mw/frame_mw?attachid=3058436 || Cable & Wireless Reports Preliminary Q1 2016/17 Results: MIAMI, FL--(Marketwired - Aug 5, 2016) - Cable & Wireless Communications Limited ("CWC") is a leading telecommunications operator in substantially all of its consumer markets, which are predominantly located in the Caribbean and Latin America, providing entertainment, information and communication services to 3.7 million mobile, 0.4 million television, 0.6 million internet and 0.8 million telephony subscribers. In addition, CWC delivers B2B services across the region and provides wholesale services over its sub-sea and terrestrial networks that connect over 30 markets. Operating and financial highlights*: Delivered 14,000 subscriber additions in Q1 2016/17, as compared to 4,000 adds in prior-year period 2,000 video additions driven by our DTH business in Panama 5,000 broadband internet and 6,000 telephony subscriber adds, supported by network investment Mobile data penetration up seven percentage points YoY to 53% Further strengthened our customer proposition through launch of Flow Sports Premier in July Providing HD sporting content exclusively to Flow customers with unrivaled Premier League coverage; only Flow customers can watch all 380 games a season, beginning in August Investing to drive future performance, including: Completed roll-out of unified Flow brand across region Activated LTE-Advanced network in Cayman providing peak throughput > 75Mbps Launched fixed bundles in Trinidad & Tobago Strengthened B2B portfolio with launch of cloud-based call center solution Deploying new advanced video platforms in Panama and the Bahamas Subscriber Statistics CWC delivered a solid Q1 2016/17 performance as the organic changes for all of our fixed and mobile product categories improved year-over-year. In our mobile business, which represents roughly 40% of our total revenue, the total base increased by 148,000 subscribers or 4% year-over-year to 3.7 million. This performance was led by a 21% increase in subscribers who purchased a data plan. Mobile data penetration now stands at 53% of our total mobile subscriber base, up 2 percentage points from 51% at March 31, 2016. Story continues Turning to our fixed-line business, we added 14,000 subscribers during the quarter, with year-over-year improvements across all three products. We reported 5,000 broadband net additions in Q1 2016/17, as we increased penetration over our improved networks. On the video front, we added 2,000 subscribers in the quarter, driven by growth in Panama DTH, where we have seen strong demand for our prepaid TV product and our DTH subscriber base rose from 16,000 to 39,000 year-over-year. Offsetting this increase, video subscribers in the Caribbean declined as a result of increased competition and challenging economic environments, however we are working to mitigate these factors by re-vamping our product offering in these markets, including the July launch of our Flow Sports Premier channel. This premium channel will feature HD content and offer the very best in sporting content, exclusively to Flow's customers across the region. The highlight of Flow Sports Premier will be unrivaled coverage of the Premier League beginning in August 2016 -- the world's most popular football league -- ensuring that only Flow's customers can watch all 380 games a season. Rounding out our fixed-line products, we added 6,000 telephony subscribers in the quarter, as we increased penetration of our VoIP-based services through bundling across our footprint. Triple-play penetration increased 170 basis points over the year to cover 8.6% of our subscribers at June 30, 2016, still leaving ample room for growth. Finally, during the last twelve months, we have expanded our network by roughly 35,000 homes and upgraded over 100,000 homes to two-way capability. From a regional standpoint, the following highlights the trends in our largest markets: Panama mobile subscribers declined 1% in the quarter as continued competition through aggressive promotional activity adversely impacted our prepaid customer base. However, this was partly offset by higher-ARPU postpaid subscribers, which were up 2%, representing the eighth consecutive quarter of growth. Our prepaid DTH product, up 22% in the quarter, continued to drive video subscriber growth in Panama. Fixed video and broadband subscribers grew by 3%, and should be further supported by the upcoming launch of re-vamped video and broadband products in the Panama market. In the Bahamas, we experienced relatively flat broadband and fixed voice performance but plan to launch a video product in Q2 2016/17 that we expect will strengthen our competitive position. Turning to Jamaica, one of the largest telecommunications markets in the region, broadband subscribers were up 2%, and mobile subscriber numbers continued to grow, with 18,000 additions in the quarter, as we continued to win back market share following the successful rebranding to Flow. Increased competition and challenging macroeconomic environments in Barbados and Trinidad & Tobago led to reduced video subscribers, however we are seeing encouraging early results from recently launched fixed bundles in Trinidad & Tobago. 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 ) 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 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 . || 'Grumpy hold-outs' could sink Bitfinex recovery plan after Bitcoin theft: By Clare Baldwin HONG KONG (Reuters) - Crypto-currency exchange Bitfinex's plan to impose losses on all its trading clients for the theft by hackers of $72 million in Bitcoin rests on two flawed pillars, according to lawyers. The Hong Kong-based exchange said on Aug. 2 that hackers had stolen 119,756 bitcoins from some clients' accounts, the second-biggest such hack in dollar terms, and later said it would spread the losses across all its customers, whether or not they had been hacked or even held bitcoin. It said customers would forfeit 36 percent of their holdings and be given "BFX tokens" instead that could be redeemed by the exchange or converted to shares in its parent company iFinex. Both elements of the plan are open to legal challenge, lawyers said. Imposing losses on customers who were not hacked appears to go against the company's terms of service, said Ryan Straus, a Fenwick & West lawyer who advises financial technology companies on regulation and co-authored the U.S. chapter of a book on bitcoin law. The terms state "bitcoins in your multi-signature wallets belong to and are owned by you", which Straus said implied a special banking relationship with clients that the Bitfinex plan would breach. "The depository ... is obligated to return, on demand, the same monetary objects deposited," he said, quoting a line from his book. The exchange's tokens could also be problematic, said Zach Zweihorn, a lawyer at DavisPolk who specializes in U.S. securities and trading laws. The way they are currently being described - redeemable by the exchange or convertible to shares in iFinex - places them somewhere between a bond and a security and makes it highly likely that issuing them and trading them would require licenses in the U.S. that Bitfinex doesn't have. "If they are issuing an equity interest in their parent company, I don't really think the fact that it's evidenced through an electronic token ... really changes the analysis of whether it's a security," said Zweihorn. The U.S. Securities and Exchange Commission did not return a request for comment. Bitfinex did not respond to requests for comment on either issue. "ROBBED" Bitfinex's website acknowledges there are "protocol level details" still to be worked out for the tokens, and that U.S. residents can sell but not buy them for the time being. "I feel like I was robbed," a 33 year-old investor who had a five-figure U.S. dollar amount on the platform told Reuters. He said he took a 36 percent "haircut" across all assets, including U.S. dollar reserves, and as a U.S. trader he couldn't properly deal in the IOU token. "Basically they took customers' funds in order to try to stay afloat. Nowhere in their terms of service did it mention that this was a possibility," said the user, who works in the financial services industry. Bitfinex is nevertheless hoping that traders will be patient and accept that they won't get a better deal if legal challenges force it into liquidation. "This is the closest approximation to what would happen in a liquidation context," it told traders in a blog post a week ago, while the tokens gave them some hope of ultimately recovering their losses. Traders will be aware of the fate of Tokyo-based crypto-currency exchange Mt Gox, which suffered the biggest bitcoin theft of all time in 2014, and consequently went bankrupt. Traders have not recovered any losses, and court proceedings are still ongoing. "People are afraid to see their assets completely frozen if they sue Bitfinex too early," said 28-year-old Nathan Bourgeois, who is based in France and moderates a 2,000-member traders' messaging group called Whaleclub under the username dr Helmut. He said he thought people would agree to the deal if there was a chance of getting some of their money back. But Patrick Murck, a fellow at Harvard University's Berkman Klein Center for Internet & Society, said the Bitfinex plan was unlikely to survive a legal challenge. "It might be a pyrrhic victory. You might still end up with less money," said Murck, who is also co-founder of the Bitcoin Foundation and its former general counsel, but the "odds are fairly low" that nobody will test it in court. "It takes one grumpy hold-out ... to blow the whole thing up,” he said. (Reporting by Clare Baldwin; Additional reporting by Hera Poon and Tris Pan; Editing by Will Waterman) || Traders pick the best bets for Yellen's speech: The "Fast Money" traders made their last few bets ahead ofFederal ReserveChairJanet Yellen's Friday speech in Jackson Hole, Wyoming. Trader Brian Kelly said he recently added a new position in the banks(NYSE Arca: KBE). He said if Yellen makes hawkish statements on Friday, the banks could rally. If the Fed chair's statement ends up dovish, defensive assets like the utilities sector and gold miners are the places to invest, said trader Steve Grasso. Kelly said, however, that Yellen's potentially hawkish comments are already priced into the gold miners and other gold assets. On Wednesday, the gold minersbroke below their 50-day moving average. But even with the recent move to the downside, the VanEck Vectors Gold Miners ETF(NYSE Arca: GDX)has soared 99 percent this year. "Gold, to me, appears to be in a long-run bull market. You buy the dips in that," he said. Disclosures: STEVE GRASSO Steve Grasso is long BA, CC, EVGN, KBH, MJNA, MU, OLN, PFE, PHM, T, TWTR, GDX. Grasso's kids 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. KAREN FINERMAN 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. Finerman is on the board of GrafTech International. 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, VXX, XLF, XOP, US Dollar UUP; he is short the euro and Japanese yen. [Random Sample of Social Media Buzz (last 60 days)] Send 5 - 99 BTC today, get 500.00 - 9900.00 BTC in 20-30 hours,hourly bitcoin invest plan . http://ow.ly/VpHr303FaDf  || $610.98 #GDAX; $607.71 #OKCoin; $609.34 #btce; $614.66 #bitfinex; $608.86 #bitstamp; $609.00 #itBit; #bitcoin news: http://bit.ly/1VI6Yse  || Japan Sees #bitcoin Trading Spike https://t.co/XHsVqUiD5v https://t.co/qbHmTomDm2 || 1 KOBO = 0.00000800 BTC = 0.0051 USD = 1.6282 NGN = 0.0710 ZAR = 0.5165 KES #Kobocoin 2016-07-31 04:00 pic.twitter.com/ImDFnKOdXD || #HamRadioCoin #HAM $ 0.000796 (-3.52 %) 0.00000126 BTC (-0.00 %) || One Bitcoin now worth $572.01@bitstamp. High $581.06. Low $562.00. Market Cap $9.037 Billion #bitcoin || Behind the Biggest Bitcoin Heist in History: Inside the Implosion of Mt. Gox http://thebea.st/27Cglhh  via @thedailybeast || 1 KOBO = 0.00000500 BTC = 0.0029 USD = 0.9135 NGN = 0.0417 ZAR = 0.2936 KES #Kobocoin 2016-08-29 19:00 pic.twitter.com/qeasZ383xa || #CannaCoin #CCN $ 0.006892 (-0.18 %) 0.00001186 BTC (-0.00 %) || 1 #bitcoin = $10400.00 MXN | $575.31 USD #BitAPeso 1 USD = 18.08MXN http://www.bitapeso.com 
Trend: up || Prices: 604.73, 605.69, 609.73, 613.98, 610.89, 612.13, 610.20, 612.51, 613.02, 617.12
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 2021-02-18] BTC Price: 51679.80, BTC RSI: 74.42 Gold Price: 1773.40, Gold RSI: 34.85 Oil Price: 60.52, Oil RSI: 77.86 [Random Sample of News (last 60 days)] India Minister Suggests Modi Government Not Planning Outright Crypto Ban: The Indian government has hinted how it might move to regulate cryptocurrencies rather than an outright ban. Talking in the nation’s upper house, the Rajya Sabha, Tuesday, a minister specified that the aim would be to curb illicit cryptocurrency transactions and bar their use in payments. “The government does not consider cryptocurrencies legal tender or coins and will take all measures to eliminate use of these crypto-assets in financing illegitimate activities or as part of the payment system,” Minister of State for Finance Anurag Singh Thakur said during a question and answer session. Related: Canadian Firm Files for Bitcoin ETF on Toronto Stock Exchange The Indian crypto community was alarmed on Friday after a bulletin from India’s lower house (the Lok Sabha) revealed the government’s plans to begin consideration of the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, seeking a ban on “private cryptocurrencies.” The bulletin, however, did not define the terms, leaving the doors open for interpretation. While the latest comments offer some clarity on the government’s plans, the bill’s contents are still unknown. Also read: India Would Ban Private Cryptocurrencies Under Proposed Legislation India’s cryptocurrency industry has been resurgent since the central bank’s ban on banking services for digital asset firms was overturned by the Supreme Court last spring. Related: Guggenheim CIO Says Bitcoin Could Eventually Climb to $600,000 Thakur’s response also indicated the government is “proactively” exploring blockchain technology to “usher in the digital economy.” Related Stories India Minister Suggests Modi Government Not Planning Outright Crypto Ban India Minister Suggests Modi Government Not Planning Outright Crypto Ban View comments || Bitcoin Bull Run: OGs on Why This One’s Different: Think back to 2017. Crypto was everywhere.The celebrities hawking ICOs included DJ Khaled, “Floyd Crypto Mayweather” and longtime blockchain enthusiast Paris Hilton. The most watched comedy on television, “Big Bang Theory,” named an episode “The Bitcoin Entanglement.” Long Island Iced Tea made the world’s most natural pivot, rebranding itself as Long Blockchain Corp. (The stock jumped 200%.) And now? Crickets. Even though the price ofbitcoinseems to break a new record every five minutes, erupting from $4K to $40K in less than a year, for some reason this bull run feels different – not as mainstream, not as talked about, not as Paris Hilton-y. Soisit really different? There are many ways to measure a bull cycle. The most obvious is by looking at the price, another is to look at things like the frequency of “bitcoin” in Google searches and a third is to evaluate the technical and fundamental metrics – smart analyses from theNic CartersandWilly Woosof the world. Related:First Mover: Market Signs Look Healthy as Bitcoin Sell-Off Subsides But then there’s the qualitative side. I wanted to find out how the bull run looks – how it feels – from the perspective of OG bitcoin hodlers. And if this cycle is different, why? And where are we headed? Let’s start with the kid. WhenErik Finmanwas 12 years old, his older brother took him to a “very chill protest” in Washington, D.C. This was in 2011. Finman happened to notice a guy wearing an orange shirt that had a big B in the middle. “What’s that?” the 12-year-old asked. Related:As Bitcoin Regains Lost Ground, Options Traders Bet on $52K Move by Late January “It’s bitcoin, man. It’s going to end Wall Street, bro.” So the 12-year-old looked into this bitcoin thing. He grew curious, and so did his older brother. His grandmother had just given him $1,000. (She thought she didn’t have much longer to live, so she gave checks to all of her grandchildren.) He tried to give it back. His grandma wouldn’t take it. The check was supposed to go for a scholarship fund but instead the kid used it to buy bitcoin. The price of each coin was around $10, so he bought 100 bitcoin. Thanks, Grandma. (Happily, her health improved. “She’s actually my only living grandparent now,” says Finman.) See also: Jeff Wilser –Cathie Wood: Ahead of the Curve “Bitcoin became an obsession,” Finman remembers. While the rest of his friends were into Call of Duty or Pokemon, the 12-year-old hustled to get more BTC, texting with strangers to buy and sell. “I felt like a Wall Street broker.” He would eventually cobble together over 400 bitcoin. You know those dot-com wunderkinds who drop out of college? That’s nothing. When Finman was 15 he dropped out ofhigh school.Since then he helped start the crypto payments companyMetal Pay, built a real-lifeDr. Octopus suit(inspired by Spider-Man), andlaunched a satellitewith Taylor Swift. (It’s easy to connect with T Swift, says Finman. “IMDBPro lists everyone’s agent; it’s only $30 per month, and the agents check their email.”) During the frenzied 2017 bull run, the media couldn’t get enough of the Teenage Bitcoin Millionaire. The Guardianphotographedhim sprawled over a pile of cash, wearing sunglasses, a hundred-dollar bill sticking out of his mouth.GQcovered his streetware. But guess who also consumes the media? Hackers. They spotted a rich target and came for his digital gold. “I was sick to my stomach,” says Finman. “I got emails that threatened to kill me if I didn’t give them bitcoin.” They also threatened his parents, even mentioning them by name along with their work addresses. “I was terrified to walk on the sidewalk,” Finman remembers. He had insomnia for days. The worst of it came on Aug. 21, 2017 – the day of the eclipse. Hackers knew that everyone would be staring at the sun and away from their computers, so they chose that precise moment to pounce. Erik watched the eclipse like the rest of the world but he happened to get tired of it a little early,. He returned to his computer to see crazy flickering and movements on his screen.Oh s**t, he said to himself, and somehow he booted them from his system just in time. (Amazingly, he didn’t lose any crypto to hacks, but says his email and Twitter were compromised for months.) And now, his life in the current bull run? There are no calls from GQ. No fawning from The Guardian. Finman has a theory for why this cycle feels so under the radar: The cultural space that was once occupied by crypto is now gobbled up by politics and the coronavirus pandemic. “[Donald] Trump gets more clicks than crypto,” says Finman. He thinks of the earlier bull run of 2013 as a “golden era,” not just because of the wealth creation but because “you could talk about things other than politics. Back in the day, cool young people were doing cool things, and building cool s**t. I feel like that has been lost.” He misses going to parties and talking about new apps and crypto, instead of Trump and pandemics. “Maybe [President-elect Joe] Biden’s not as interesting as a person” and “he’ll get less clicks,” says Finman. “Maybe bitcoin is more interesting than Joe Biden.” Finman and I spoke weeks before the mob of Trump supporters invaded the Capitol, but that wrenching day of Jan. 6 seemed to encapsulate his point. While most of the nation watched, horrified, as chaos engulfed the nation’s capital, which perhaps said something dark about America, the price of bitcoin surged another 10%. This is perhaps the great irony of blockchain in 2020 and 2021: the raucous celebrating of bitcoin, juxtaposed against so much real-world suffering (nearly 2 million deaths from the coronavirus) can seem tone-deaf. As much of the world grieves for the dead, struggles to pay rent or simply tries to make it through the drudgery of quarantine, many of the bitcoin bulls whistle a different tune. “2020 was an excellent year!” tweets a cheerful crypto investor. Another gushes that “2020 was a hell of a year. I’ve never seen a market like it and I’m fortunate to have closed it on a high note … Not only did I finish at all-time highs, but #Bitcoin has finally given me a clarity that I’ve been seeking for awhile. 2021 should be special.” Erik Voorhees, the CEO of ShapeShift, has also been around since near the beginning. He takes us down memory lane. In 2011, the price hit $31, then the bubble popped and it would crater to $2. These were dark days for bitcoin. “Everyone who was skeptical had every reason to believe that it was over,” remembers Voorhees. “All the people hating on bitcoin had a field day for months and months.” The next bull cycle wouldn’t come for another two years, in 2013, when the price again cracked $31. Voorhees remembers giving a talk at New York University with Charlie Shrem, and during the talk the price pumped $5 as they celebrated. “All of the students thought we were a little weird.” Voorhees has a contrarian take. “It mostly feels the same,” he says. “When you go through several seasons of this market, it feels the same. You have this crazy bubble and then a period of denial after the bubble and then a dark bear market for a while and then a period of stabilization and then another period of growth. That cycle feels very natural to me.” Voorhees says you can’t predict how high it will get or when it will crash, but the overarching patterns feel consistent and predictable. But does the actual price history bear this out? Let’s go to the graphs. When you first look ata chart that displays the history of bitcoin’s price, these patterns are hard to spot. It looks like bitcoin is worth peanuts for years, then you see the to-the-moon bull run of 2017 then the crash and now today. Many traders look at it differently. They switch the scale of the chart tologarithmic, which basically plots the percentage change of the price. For example, a jump in price from $1 to $1.1 is a 10% gain, just as a jump from $10,000 to $11,000 is a 10% gain. Both of those jumps would give an investor the same rate of return, so they’re displayed the same on the graph. And when you switch the chart to logarithmic, suddenly you do see the patterns. In fact, it’s easy to see. You see the bull and the bust cycles that repeat several times over the last decade, and you see that each time bitcoin “crashes” the new level is higher than the prior cycle. Looked through this prism, $40K prices look less like wild, uncharted territory and more like the smooth continuation of a decade-long trend. (If you squint.) As for why we don’t see the same breathless media coverage and why bitcoin is not in the larger cultural conversation? “That’s a simple answer,” says Voorhees, and then adds a slab of juicy red meat for the bitcoin bulls: “We’re not in the real bubble yet.” His logic is that, yes, bitcoin has surpassed its previous ATH, but while “everyone in crypto is freaking out and excited, because they’re like, ‘Yes, we’re back!’” – and while it prompts daily articles from CoinDesk on each new tick upwards (such as $27K, $28K, $29K) – this is not yet interesting enough to curry much mainstream fascination. A more useful and accurate time comparison for where we are in the current bull cycle, says Voorhees, is not the frothy top of December 2017, when bitcoin flirted with $20K and when the FOMO lured in bitcoin newbies.  (Full disclosure: I was one of these newbs, and I bought bitcoin near the top that I still HODL.) Voorhees says a better comparison for where we are isFebruaryof 2017, when bitcoin had once again breached $1,000 – after three years of wallowing in the triple-digits – and established what was then a new ATH. Follow the logic further. “It’s not yet interesting to the mainstream. The super mainstream interest occurs at the tail-end of the bubble.” As for when that will happen? “When we approach $100 grand, that’s when you’ll see it all over the place. And that means [we’ll be] in the latter stages of the cycle.” Voorhees guesses that the current cycle will take bitcoin “somewhere between $100k and $300k,” and that this will occur “between six and 12 months from now,” and then “the bubble will pop, and it will crash down over the next year, probably back below $100k, and probably never below $20K.” My personal theory: In the last bull run, there was still the widespread hope that we could use bitcoin as a way to buy a proverbial cup of coffee. This made bitcoin easy to understand. This made it easy to talk about. The “How to Use Bitcoin!” story was catnip for mainstream publications, offering easy hooks for pieces likeBusiness Insider’s“I spent a day trying to pay for things with bitcoin and a bar of gold.” But widespread merchant adoption never happened. Those stories faded. The mainstream lost interest and the actual use case of bitcoin is now trickier to convey.“A hedge against inflation, as rampant monetary easing dilutes the dollar!”is a tough bumper sticker. Something else is different now. Back in 2017, much of the nation still had never heard of bitcoin, which made it easy for the producers of ABC News, say, to green-light a segment like “What is bitcoin, the world’s most popular cryptocurrency?” Segments like this were everywhere. The Today Show asked, “What is cryptocurrency, and should you risk your money with it?”. Now those explainer videos have already been done. That ABC producer would likely ask, “Didn’t we already run this story? Old news. Pass.” The peak of 2017-18’s news coverage came in The New York Times’ “Everyone’s Getting Hilariously Rich and You’re Not.” The top image of that article featured two crypto bros — one wearing a Bitcoin sweater, one wearing an Ethereum Sweater, which, it must be said, is tougher on the eyes than the Ugliest Christmas Sweater. I reached out to the Ethereum Sweater Guy, whose name is Mathieu Baril (who’s now Operations Lead atDerivaDEX, a crypto exchange), to see what’s changed between now and then. “The 2017 euphoria was strange,” Baril remembers, as the San Francisco meet-ups became “a bit more crazy” and full of those trying to get rich quick. At one 2017 meet-up, Baril says, “some people were walking next to Pieter Wuille and didn’t even know he was a core dev.” Baril says that while he’s now seeing that same kind of get-rich-quick euphoria with decentralized finance (DeFi), the bitcoin run itself feels less hype-y, more solid. To those following the space closely, the drivers of the bull run are now well understood: an influx of institutional capital (such as MicroStrategy’strove of over 70,000 BTC), growing optimism from traditional finance (like JPMorgan floating aprice of $146K), and a grudging appreciation for bitcoin as “digital gold” that can hedge against inflation. “This bull run was catalyzed by COVID,” saysJill Carlson, principal of Slow Ventures and a CoinDesk columnist. “Over 20% of all U.S. dollars were created in 2020. This staggering statistic rightly has asset managers fearing inflation and turning to bitcoin.” That institutional capital didn’t just appear by magic. It took years of behind-the-scenes work. The secret engine of this bull run could have something to do with an obscure bit of paperwork called an “SOC 2 audit,” says Moe Adham, co-founder ofBitaccess, a Canadian startup. SOC stands for “System and Organization Controls,” and while it might lack the sex appeal of “The Big Bang Theory” or a 2017-eraJamie Foxx-backed ICO, it could have a more enduring impact. In the last bull run of 2017, says Adham, it was extremely difficult, if not impossible, “for listed companies and institutions to actually invest in bitcoin and carry that balance over a year’s-end, and satisfy a financial audit.” It’s one thing for you or me to scoop up some bitcoin on an exchange, but Adham says that a “listed company” (such as Square) needs a more buttoned-up custodian that can withstand the rigors of an SOC 2 audit. For the last few years, the rise of institutional custodians such as BitGo, Gemini and Coinbase have quietly built out the pipes and plumbing to make these kinds of SOC audits doable. “From a regulatory and compliance perspective, Bitgo … has been hammering away at this problem for a very long time,” says Mike Belshe, CEO of BitGo. “We’re a regulated institution. Anybody outside of our walls that’s regulated needs to work with regulated parties, so now they’ve got partners that they can work with.” Jill Carlson agrees with those who say that this bull run feels different. “That institutional money will be stickier and have a stronger hand,” she says, adding that it will “open the door for even more institutional money to pour in.” Unlike in 2017, Carlson notes, the bulk of the incoming funds are for the (relatively) more proven assets of Bitcoin and Ethereum, as compared to the rampant gambling on the more exotic blockchain projects that lured speculators with visions of 100X returns, many of which have gone bust. The idea of institutional “strong hands” makes sense.Dovey Wan, founding partner of Primitive Ventures, says wealthy individuals who allocate only a small slice of their pie to bitcoin are able to outlast the inevitable dips in price, whereas the “weaker hands” don’t have that luxury. “If you have a small net worth, you can’t HODL a large percentage of bitcoin due to price volatility,” explains Wan. Or as she once posted onWeibo, “Plebs buy to sell, chads buy to buy more.” While Wan (who’s based in Hong Kong) agrees this is a fundamentally different bull market than in 2013 and 2017, she notes that it’s not perceived the same way around the globe. China still has a more bearish view. “Most Chinese traders and crypto people have not been following the ‘institutional influx’ from the West closely, and domestically crypto sentiment has always been more bearish due to local regulatory stiffening,” explains Wan, such as the regulatorscracking down on exchanges and mining, or the imprisonment of Chinese exchange founders likeStar Xu. Wan says the difference in crypto sentiment between the East and West is so stark, a savvy trader can make easy money by shorting bitcoin during China’s daytime and going long bitcoin during the U.S. daytime. “It’s a simple straight alpha strategy since 2018.” Marshall Hayner started mining bitcoin on the original 2008 MacBook Pro, which fried his laptop. When he brought it into the Apple repair shop, the guys laughed at him for mining “bitcoin,” which they had never heard of. Trading was tough. There was no CoinBase or Binance or even a Mt. Gox. Back then they bartered with bitcoin for things like T-shirts, socks and Visa gift cards – ironic, given bitcoin’s anti-bank ethos. “I just wanted to prove to myself, does this really work?” says Hayner. They traded in forums and chat rooms. The goal was not to make money, but to experiment and play. In 2010, Hayner had scooped up enough bitcoin that he remembers thinking,If this thing ever goes to $20, I’ll be a millionaire. When it did finally hit $20 he happened to arrive in Belize for a vacation with his girlfriend. Practically as soon as the plane landed he told his girlfriend that he needed to leave because he had to go back home and access the hardware wallet on his computer to sell crypto. She wasn’t thrilled. So he raced back home to Boston, desperate to cash out and get rich … but while he was on his flight the price plunged 90%, back to $2. The good news is he would eventually become a millionaire, the bad news is the girlfriend didn’t last. Then came the 2013-14 bull run, when bitcoin shot from $13 to $1,000 in just under a year. “2013 was the moment when it actually proved to have real commodity value,” says Hayner, who’s now the CEO of Metal Pay (he launched it with Erik Finman, the Teenage Bitcoin Millionaire.) Banks in Greece and Cyprus failed. ATMs ran out of money. Europeans were hungry for an alternative to fiat. This wasn’t just speculation or FOMO  – people bought bitcoin to use it. “Incremental demand for bitcoin is coming from the geographic areas most affected by the Cypriot financial crisis  – individuals in countries like Greece or Spain, worried that they will be next to feel the threat of deposit taxes,” one fintech analystwrote at the time. If 2013 was driven by Greek and Cyprus demand and 2017 driven by retail speculation (or hype and FOMO), what does that mean for today? “2020 is the year where most people have heard about bitcoin, and most people have heard about cryptocurrency,” Hayner reasons, so they’re investing with eyes wide open. “This time around, almost everyone knows what this is.” If everyone knows what bitcoin is, that might explain why the Google search results aren’t anywhere near the booming heyday of December 2017.  But that could be changing. Just a month ago, when I began researching this article,searches for “bitcoin”were only about 20% of that December peak. Now it’s climbing. Just in the past week, as the price of bitcoin shattered records by the hour, the searches more than doubled. This gives some ammo to Voorhees’ theory: The public will catch up if the price keeps rocketing. Anecdotally, it does seem like the pace of bitcoin chit-chat has started to pick up. I’m now getting texts from buddies asking how to buy crypto, which hasn’t happened since early 2018. And now we see sentimentslike this: “Helped my 81-year-old grandmother put her $600 stimulus check in bitcoin yesterday,” one user tweeted on Jan. 6. “She gave me instructions to distribute it between her children in the case of her death. Her mother lived to 101. … Personally helping mint a new hodler every week as of late.” I spoke with one last old-school bitcoiner to get some perspective. “I’ve lost count, but I’ve been through seven or eight of these bull cycles,” saysCharlie Shrem, the founder of the early (and now legendarily defunct) exchange BitInstant, and who – perhaps more than anyone – has seen both the peaks (easy millions) and valleys (jail time) of crypto, and who is now hosting the podcast Untold Stories, chronicling the history of bitcoin. “$1 to $10, $10 to $100, $100 to $1,000, and now $10,000 to maybe $100,000, or plus,” says Shrem, almost nostalgically. “This one was inevitable.” Shrem suspects the bitcoin price is “filling itself out,” in the same way that an air mattress needs to be filled before it can support your weight. In other words, if bitcoin is to actually be the relevant currency that its advocates envision, then the price almostmustrise and keep on rising, just as an air mattress needs to be filled. Otherwise it won’t do what it’s supposed to do. (He acknowledges it’s also possible that it goes to zero.) “I think bitcoin wants to be a six-figure number,” says Shrem. “And I think people who own bitcoin now want to see the value of one bitcoin be a six-figure number.” It’d be tough to find a bitcoin owner who would disagree, but then again every owner of shares inPets.com(a poster-child disaster from the dot-com era) wanted to see it go to the moon. Shrem, like nearly everyone who spoke to me, says that this one really does feel different. For the prior bull cycles, even for the crypto-optimists, he says there was always an undercurrent of anxiety as the price ascended, like watching “a rocket ship that takes off, and every time there’s a 30% chance that something will go wrong.” Now he doesn’t feel that anxiety. He sees less of the FOMO, less of the hype, less of the greed. “I don’t see anyone talking about Lambos on Twitter,” says Shrem. Then again, as one crypto enthusiasttweets, “Lambo bro, Bitcoin to the moon bro.” • Bitcoin Bull Run: OGs on Why This One’s Different • Bitcoin Bull Run: OGs on Why This One’s Different || Growing interest in cryptocurrency is leading to more scams: The increasing popularity of cryptocurrency has meant more people are being scammed, says the Canadian Anti-Fraud Centre (CAFC) in a new warningnotice to Canadians. “As the value of cryptocurrencies reach new highs, the Canadian Anti-Fraud Centre (CAFC) wants to remind Canadians to recognize that fraudsters also seek to benefit from the growing interest in cryptocurrency markets,” the post reads. “Data breaches, thefts, exit scams and frauds tied to initial coin offerings have all been documented in 2020.” Jeff Thomson, a senior intelligence analyst at the CAFC, said in an interview that investment scams have seen considerable growth over previous years, and that the dollar loss from investment scams rose from $9.7 million in 2018 to $16.5 million in 2020. “With cryptocurrency surging, people are looking at ways to make money,” he said. “It’s becoming more mainstream... you’re hearing more about it. You’re going to see people looking to invest or trying to invest, so maybe they get one of these unsolicited emails saying here’s an investment opportunity.” Thomson insisted that if Canadians are going to invest in crypto then they should do their research and retain their coins with reputable and compliant services. He added it’s important to understand the difference between the types of wallets out there and to be extra cautious with sending crypto. “If somebody is asking to be paid by crypto, make sure you have the exact wallet or crypto address to send to and you want to double-check it thoroughly,” he said. “Beware of phishing emails saying to punch in your information tied to [crypto wallets].” Karl Schamotta, chief market strategist at Cambridge Global Payments, said the surge of Canadians investing in cryptocurrency is primarily due to the pandemic and looking at new ways to make money. He also said an increase in institutional adoption and interest from bigger investors, hedge funds, and other players, more recently Elon Musk, investing in these markets is also “giving the space the veneer of credibility.” According to a securities filing Monday,Musk’s company Tesla purchased $1.5 billionworth of bitcoin. The filing also indicated that it would allow customers to accept the cryptocurrency as a form of payment for its products. That news shot bitcoin (BTC-USD) shares nearly 14 per cent. The richest man in the world also discussed the digital payment on voice-chat app Clubhouse indicating he thinks it “is a good thing.” “I am a supporter of bitcoin. Like I said, I was late to the party, but I am a supporter of bitcoin,” Musk said. Schamotta said Musk should be taking the time to educate his followers on everything there is to know about crypto and the risks around fraud. “Any of these celebrities getting involved in this tend to give [bitcoin] greater credence and more respectability; that does persuade people who are on the sidelines to join it,” he said. “Unfortunately, Mr. Musk is not living up to his responsibility. As a very influential person, he’s failing to ensure that he does protect people against loss.” Schamotta explained that traditional financial systems include various levels of protection of funds. When you transfer between individuals there are a number of checks and balances in place, he said, adding this allows the financial institution to reverse potentially fraudulent transactions. The same is not the case with cryptocurrency. “In crypto, in general, there is no such level of protection,” he said. “Once you’ve sent funds they’re gone.” Using a cold wallet, or one that is not connected to the internet, is also highly vulnerable because most people lose their keys or password to it. “And even if you do use a service to hold your currency, that can be hacked and stolen from,” Schamotta said. “There are millions of cases of people losing their funds in this process.” To ensure you’re staying safe, the anti-fraud centre suggests using strong and unique passwords for online accounts, and using multi-factor authentication. || Bitcoin Breaches All-Time High Above $35K, Sidelining Ethereum Rally: Bitcoin(BTC) was bullish at press-time and traded above the $35K mark — reaching an all-time high of $35,587.66 late Tuesday night —  as the gains in the cryptocurrency exceeded those of Ethereum (ETH). What Happened:The apex cryptocurrency traded 10.72% higher at $35,275.05, while ETH traded 8.22% higher at $1,21,08 at press-time. Grayscale Bitcoin Trust(OTC:GBTC) closed 12.34% higher at $39.41 andGrayscale Ethereum Trust(OTC:ETHE) ended the day 14.92% higher at $13.79 on Tuesday. Most altcoins followed Bitcoin’s lead and traded in the green with Litecoin (LTC) higher by 7.99% at $163.35 and Bitcoin Cash (BCH) up 6.34% at $427.76. Chainlink (LINK) traded 9.95% higher at $14.65 and Monero (XMR) was up by 3.92% at $135.62. XRP was an outlier to the trend and traded 1.63% lower at $0.23. On Tuesday, Blockchain.com became the latest cryptocurrency exchange to halt XRP trading after a lawsuit was filed against issuer Ripper Labs. Why It Matters:Katie Stockton, a technical analyst for Fairlead Strategies, said, “The signs of exhaustion that appeared in December were absorbed via a brief consolidation phase, and there are no active overbought ‘sell’ signals,”reportedCoinDesk. “If bitcoin continues to rally at its current rate, I believe we could see a price of $54K around Valentine’s Day,” said NEM’s head of trading Nicholas Pelecanos, as per CoinDesk. Meanwhile, the Ethereum futures market is reportedly bubbling with open interest on major venues growing to $2.95 billion in total, a rise of $350 million. Brain Mosoff, CEO of Ether Capital said that spot price has the potential to grow and the futures are an indicator of that. “ETH is still below the all-time high, and many believe with all the positive news in the latter half of 2020 it still has room to grow,” said Mosoff. See more from Benzinga • Click here for options trades from Benzinga • As Bitcoin Crossed K, Institutional Buyers On Coinbase Made Record Purchases • Why Ethereum Is Surging Today As Other Cryptocurrencies Remain In Red © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Cyberpunk Publisher Will 'Vigorously' Defend Itself Against Investor Lawsuit: Cyberpunk 2077 publisher,CD Projekt SA, is planning to defend itself “vigorously” against claims raised in a class-action lawsuit, Bloomberghas reported. What Happened:Andrew Trampe, an investor, filed a lawsuit in a federal court in Los Angeles on Thursday, claiming the video game developer misled investors about the game's condition and possible technical glitches that led to losses. According to the court filing, the plaintiff claims CD Projekt did not warn investors that Cyberpunk 2077 was “virtually unplayable on the current-generation Xbox or Playstation systems due to an enormous number of bugs.” The video game developer vowed to defend itself against “any such claims.” Why It Matters:Sony Corp(NYSE:SNE)removedthe long-anticipated game from the PlayStation store on Dec. 18 and offered full refunds to everyone who had purchased it. CD Projekt SA’s American Depositary Receipt shares went down by 25% in the next three days after the game’s release on Dec. 10. They fell another 16% following Sony’s announcement. Usersstarted to complainabout glitches and bugs in the game just hours after its official release, according to Bloomberg. Microsoft Corporation(NASDAQ:MSFT) has alsobegun offeringrefunds for the game but has not pulled the game out of the Microsoft store yet. Price Action:Sony shares fell 0.60% and closed at $96.26 in the after-hours trading on Thursday. Microsoft traded at $222.51, with a 0.11% loss at the Thursday post-market session close. Image: Courtesy of Cyberpunk 2077 See more from Benzinga • Click here for options trades from Benzinga • Bitcoin Crosses ,700, Aims At ,000 • Here's What You Need To Know About Cyberattack Against US © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Mark Cuban: “Bitcoin is Exactly like the Dot Com Bubble”: Bitcoin is continuing its incredible ascent since breaking the $20,000 ceiling last month, and the cryptocurrency stands at $34,500 today. However,some investors are warning of a coming bubble. See:Bitcoin’s Bull Run Is on a Rampage — But How Long Will It Last?Find:How to Invest in Cryptocurrency Entrepreneur and investor Mark Cuban compared it to the internet stock bubble in a tweet yesterday. “Watching the cryptos trade, it’s EXACTLY like the internet stock bubble. EXACTLY. I think bitcoin, eth[ereum], a few others will be analogous to those that were built during the dot-com era, survived the bubble bursting and thrived, like AMZN, EBay, and Priceline,” Cuban wrote. “Along the way MANY fortunes will be made and LOST and we find out who has the stomach to HODL and who doesn’t. My advice? Learn how to hedge.” According to Cuban, as during the dot-com bubble, the experts try to justify “whatever the pricing of the day is. Crypto, much like gold, is a supply and demand driven. All the narratives about debasement, fiat, etc are just sales pitches. The biggest sales pitch is scarcity vs. demand. That’s it.” See:The Most Googled Money Questions — AnsweredFind:PayPal Finally Welcomes Bitcoin, More Cryptocurrencies Others are also warning about the asset’s rapid rise, as Bitcoin appreciated by approximately 1,000% in 10 months. “I believe this is a troubling phenomenon, and likely illustrates that the digital asset market may have come too far too fast. We’re likely due for a pullback, and I expect BTC could decline by 20-30% from recent highs before the current wave of this bull market can proceed,” writes Albright Investment Group’s Victor Dergunov in Seeking Alpha. Bitcoin, the world’s most valuable virtual currency, got a boost earlier this year as demand from institutional investors increased and big-name investors like Paul Tudor Jones and Stanley Druckenmiller got onboard. S&P Global announced earlier this month that it will launch cryptocurrency asset indices in 2021 — further proof that Bitcoin is going more mainstream.The index provider said it was partnering with Lukka, a leading New York City-based crypto asset software and data company. More From GOBankingRates: • 19 Effective Ways To Tackle Your Budget • Are You Spending More Than the Average American on 25 Everyday Items? • 30 Important Money Habits for Your Financial Future • Guns and 32 Other Things You Definitely Do NOT Need To Buy During the Coronavirus Pandemic This article originally appeared onGOBankingRates.com:Mark Cuban: “Bitcoin is Exactly like the Dot Com Bubble” || Panthers’ Russell Okung Becomes First NFL Player to Be Paid in Bitcoin: “Pay me in bitcoin” has come true for National Football League player Russell Okung. Some 20 months and a 273% price increase after he firsttweetedthat demand in May 2019, Okung will be the first player from any major U.S. sports league to be paid in bitcoin. The arrangement comes by way of Zap, thebitcoinstartup founded by Jack Mallers. Zap’sStrikeproduct enables traditional paychecks to be converted into BTC. Okung’s just happens to be quite large. His$13 millionyearly salary is being split 50-50 between bitcoin and fiat, Mallers said Monday in a phone interview with CoinDesk. Related:Statechains Scaling Solution Offers New Potential for Bitcoin Privacy Mallers said other pro athletes, including unnamed members of the Brooklyn Nets basketball team and baseball’s New York Yankees, have also begun onboarding to the program. Mallers said the NFL and NFL Players Association had to be involved to get approval. It is unclear if such approvals are also required for the National Basketball Association and Major League Baseball. Technically speaking, Okung is still being paid in fiat. Behind the scenes, however, is Lightning Network magic: Strike receives a direct deposit from his team, the Carolina Panthers, and then swaps dollars for bitcoin. That bitcoin is then sent to a cold storage wallet held by Okung, Mallers said. (To recap, Lightning is a secondary system for sending bitcoin in a cheaper and quicker fashion compared to using the Bitcoin network itself.) Read more:What Is Bitcoin’s Lightning Network? Strike, which launched in private betaabout a year ago, can connect to any bank account via a routing number, according to Mallers. Square’s Cash App worked in a similar manner bypartnering with Lincoln Savings Bank and Sutton Bankbefore Square received a banking license in March. The Okung announcement also serves to tease another bit of news from Zap. Strike can now be used as a checking account through partnerships with two yet-to-be-named banks, according to Mallers. Related:Bitcoin Sets New All-Time High Above $28.5K; Bulls Back in the Driver's Seat Mallers said Strike is now processing into the “seven figures” of monthly volume and expects that number to grow as more big names join Strike’s newest payment method. Strike does not currently receive any cut for processing payments, Mallers said, but it might as the product gains adoption. “It’s a big, big deal that we found a way to allow any individual to receive a [percentage] of their labor in bitcoin,” Mallers said. Read more:Lightning Startup Zap Raised $3.5M for Bitcoin App Ahead of Visa Deal As Okung expressed in arecent CoinDesk op-ed, the lineman’s journey to bitcoin began long before that May 2019 tweet. The 32-year-old Okung said he has long been frustrated with the lack of economic power professional athletes – particularly Black athletes – currently hold. Okung views bitcoin as a means of regaining financial independence and has launched anadvocacy projectin that vein. • Panthers’ Russell Okung Becomes First NFL Player to Be Paid in Bitcoin • Panthers’ Russell Okung Becomes First NFL Player to Be Paid in Bitcoin || California Pension Fund Loaded Up on RIOT Shares During Bitcoin’s Q4 Rally: California’s $441 billion public pension fund increased its stake in bitcoin miner Riot Blockchain (RIOT) nearly sevenfold in last year’s Q4 amid the meteoric run-up in the price of bitcoin. California Public Employees’ Retirement System (CalPERS) held 113,034 shares in RIOT worth over $1.9 million at the end of 2020, according to Tuesday filings . That’s up from Q3 2020 , when CalPERS’ 16,907 RIOT shares were worth a comparatively minuscule $49,000. The largest public pension fund in the U.S. had been holding firm on its nearly 17 thousand RIOT shares since acquiring them during the bull run in late 2017. That position seldom varied until now. RIOT spiked 541% during Q4 2020. Meanwhile, bitcoin was up 174% for the quarter. CalPERS board members included blockchain technologies as a future-forward investment opportunity during a public forum in 2016. Related Stories California Pension Fund Loaded Up on RIOT Shares During Bitcoin’s Q4 Rally California Pension Fund Loaded Up on RIOT Shares During Bitcoin’s Q4 Rally California Pension Fund Loaded Up on RIOT Shares During Bitcoin’s Q4 Rally California Pension Fund Loaded Up on RIOT Shares During Bitcoin’s Q4 Rally View comments || Grayscale® Digital Large Cap Fund Announces Management Fee Reduction: New York, Dec. 21, 2020 (GLOBE NEWSWIRE) -- Grayscale Investments , the world’s largest digital currency asset manager and manager of Grayscale® Digital Large Cap Fund ( OTCQX: GDLC ) (the Fund), today announced that the Fund will be reducing its management fee. Effective January 1, 2021, the manager’s fee will be lowered from 3.0% to 2.5%. Following a historic year for digital currencies, investors are seeking diversification not just into the asset class, but within it. In response to this growth in interest and demand, we’re taking action to deliver greater value to investors by reducing the management fee on one of our most popular products. The Fund enables investors to gain exposure to a market-cap weighted portfolio of large-cap digital currencies, including Bitcoin (BTC), Ethereum (ETH), XRP, Bitcoin Cash (BCH) and Litecoin (LTC),* through a singular investment vehicle without the challenges of buying, storing, and safekeeping digital currencies directly. Through a rules-based portfolio construction methodology, the Fund targets coverage of the upper 70% of the digital currency market and is re-evaluated each quarter; however, the weightings of each Fund Component change daily and are published around 4:00pm NY-time.** Investors can obtain real time visibility into the daily performance and composition of the Fund through the TradeBlock Grayscale Digital Large Cap Index (DLCX): https://tradeblock.com/markets/dlcx. “Grayscale has been the market leader for digital currency investment products since our inception, and we’re focused on bringing our clients products that provide access, transparency, and exposure, all supported by best-in-class service providers,” said Michael Sonnenshein, Managing Director of Grayscale Investments. “It is extremely important to us that as our industry continues to mature and grow, Grayscale continues to lead in client service and offerings.” The Fund’s investment objective is for its Shares to reflect the value of Fund Components held by the Fund, less its expenses and other liabilities. To date, the Fund has not met its investment objective and the Shares quoted on OTCQX have not reflected the value of Fund Components held by the Fund less, the Fund’s expenses and other liabilities, but have instead traded at a substantial premium over such value. Story continues The Fund is an investment vehicle with Shares titled in the investor’s name, providing a familiar structure for financial and tax advisors and easy transferability to beneficiaries under estate laws. Additionally, Shares are eligible to be held in certain IRA, Roth IRA, and other brokerage and investor accounts. For more information, please visit: https://grayscale.co/investors/ . *As of December 18, 2020, the Fund Components were a basket of 79.9% Bitcoin (BTC), 13.1% Ethereum (ETH), 4.7% XRP, 1.1% Bitcoin Cash (BCH), and 1.2% Litecoin (LTC) and each Share represented 0.00047282 Bitcoin (BTC), 0.00273342 Ethereum (ETH), 1.09529544 XRP, 0.00047576 Bitcoin Cash (BCH), and 0.00154497 Litecoin (LTC). The Fund will not generate any income and regularly distributes Fund Components to pay for its ongoing expenses. Therefore, the amount of Fund Components represented by each Share gradually decreases over time. **The composition of the Fund is evaluated on a quarterly basis to remove existing Fund Components or to include new Fund Components in its portfolio, in accordance with the Fund's construction criteria established by Grayscale. 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 $15.5B in assets under management as of December 18, 2020. Through its family of 10 investment products, Grayscale provides access and exposure to the digital currency asset class in the form of a 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. For more information, please visit www.grayscale.co or follow us on Twitter, @Grayscale. CONTACT: [email protected] || Hacking Humanity With Bitcoin, feat. Max Keiser and Stacy Herbert: Two of bitcoin’s most vocal advocates discuss why this year broke open the floodgates on an aging economic system. 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.comandNexo.io. Related:Bitcoin News Roundup for Dec. 23, 2020 Download this episode Max Keiser and Stacy Herbert are one of bitcoin’s most dynamic duos, producing a variety of content, including the Orange Pill podcast. In this discussion with NLW, they talk about why this year was transformational in terms of how people view the aging economic system, and why 2021 is poised to mint even more new bitcoiners. Find our guests online:@maxkeiser@stacyherbert See also:Raoul Pal on the Coming Transformation of Monetary and Fiscal Policy Related:Bitcoin News Roundup for Dec. 22, 2020 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. • Hacking Humanity With Bitcoin, feat. Max Keiser and Stacy Herbert • Hacking Humanity With Bitcoin, feat. Max Keiser and Stacy Herbert [Random Sample of Social Media Buzz (last 60 days)] None available.
Trend: down || Prices: 55888.13, 56099.52, 57539.95, 54207.32, 48824.43, 49705.33, 47093.85, 46339.76, 46188.45, 45137.77
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 2016-02-03] BTC Price: 369.95, BTC RSI: 39.28 Gold Price: 1141.30, Gold RSI: 68.25 Oil Price: 32.28, Oil RSI: 48.52 [Random Sample of News (last 60 days)] Bitcoin industry consolidates: Why Kraken bought Coinsetter: For the past two years, the most popular type of new bitcoin company has been exchanges, where investors can buy and trade bitcoin and other virtual currencies. Now two exchanges are already rolling up, in the first major bitcoin industry acquisition of 2016. Kraken, which is based in San Francisco but sees most of its trading activity in Euros, has bought Coinsetter, a smaller New York-based exchange, for an undisclosed amount. Coinsetter will shut down on Jan. 26 and its customers will be converted to Kraken. According to data from TradeBlock, the average daily transaction volume on Kraken last year was around $1.3 million. The deal comes amid a price collapse and high negativity around bitcoin's future. Mike Hearn, a prominent bitcoin developer, wrote a post on Medium last week announcing his opinion that the bitcoin "experiment" has failed. "I will no longer be taking part in bitcoin development and have sold all my coins," he wrote. "The network is on the brink of technical collapse. The mechanisms that should have prevented this outcome have broken down, and as a result there’s no longer much reason to think Bitcoin can actually be better than the existing financial system." The core of Hearn's argument is that the speed of transactions has slown; a contentious issue in the bitcoin community right now is whether and when to raise the size limit on "blocks," the term for a bundle of bitcoin transactions. Every single transaction is recorded and processed as part of a block on the bitcoin blockchain, a public, decentralized ledger. If this all sounds like a foreign language to you, don't worry: All you need to understand is that the bad optics of a prominent bitcoin flag-waver leaving the industry in a huff was enough to send the price plummeting. After Hearn posted his piece on Jan. 14, the price of the digital currency fell from $430 down to a low of $358 two days later. It now hovers around $380, according to Winkdex. Story continues Viewed in this context, consolidation in the industry may look troubling. But Coinsetter CEO Jaron Lukasiewicz isn't concerned. "I’m bullish on bitcoin right now and believe we’ll see the price hit four-digits again," he tells Yahoo Finance. Perhaps that's easy for him to say: Coinsetter will shut down, and Lukasiewicz is moving on, likely following Hearn to the exit. ("For my next venture I am focused on starting or leading a team whose products are improving society... I’m not tied to any particular industry beyond that," he says.) The sale comes less than a year after Coinsetter made its own acquisition of the Canadian-based bitcoin exchange Cavirtex—a deal that likely helped make Coinsetter an acquisition target itself. Benefiting from volatility Kraken CEO Jesse Powell is less starry-eyed about the industry right now. "I think the market has not grown as fast as everyone anticipated," he says. "And the price has gone in the opposite direction of what people hoped. I think we’ll continue to see market consolidation. When the price is going up, new people are coming in, more media is covering it, it’s good news all around. When the price is going down, the public perception is bad, and everyone says bitcoin is crashing. The price is important in that aspect." For a long time, many bitcoin believers insisted that the price isn't important. As long as it is relatively stable, they reasoned, startups can keep innovating and building useful applications on top of the blockchain. But for bitcoin exchanges, price matters: Most make their money from transaction fees, so they do best when there’s either a lot of volatility, or the price is high. When the price is stable and low, exchanges suffer. Leaving New York Kraken, founded in 2011, is like a foreign exchange for digital currencies. Its customers are mostly professional traders executing margin trades and other advanced orders. It is not a site where beginners would go to casually dip a toe into the bitcoin market. Coinsetter, founded in 2012, offers Kraken the chance to instantly expand its customer base in Canada (from Cavirtex) and the U.S. Except in New York. Kraken was one of the companies to cut off service in the state last summer after the New York Department of Financial Services released the final version of the BitLicense, a regulatory framework for digital currency companies in New York that holds customers' funds. Many bitcoin entrepreneurs complained the framework was too strict and limiting, so rather than play ball, they left. Coinsetter didn't leave New York. But under new management, it will now. "We’re going to shut down New York again right after the acquisition," says Powell. "So the Coinsetter New York clients will be out of an exchange there, unfortunately. Coinsetter did put in a BitLicense application, but when you have a change of control, the application is void, so we won’t be serving New York and we have no plans to apply for a BitLicense in the future." In a sense, Powell is simply sticking to his guns, just like Hearn—except that the latter believes bitcoin has already failed, while the former believes it risks failure if there is over-regulation. Indeed, apart from the debate over block size, the industry's bigger battle will be over regulation. Many in the business are anxiously waiting to see whether other states will follow New York's lead and create their own form of a BitLicense. And while some companies stayed in New York and applied for a BitLicense (at high cost: Lukasiewicz says Coinsetter spent $50,000 to apply for one), others stayed in New York but did not apply, and continue to operate in uncertainty. That concerns Powell. "There’s still not really regulatory clarity, and the banks still aren’t getting on board. They’re all about the blockchain these days, but they’re still not giving bitcoin exchanges bank accounts. So there are huge challenges with getting new exchanges started." He's right about the blockchain being a buzzword for big financial institutions: Everyone from JPMorgan ( JPM ) to the Nasdaq have talked up their interest in the blockchain while distancing themselves from the cryptocurrency that fuels it. For now, Kraken gets bigger. It can compete more with the leading exchanges like BitInstant, Bitstamp, Coinbase and itBit, as well as brand new exchange platforms launched last year, including Abra, Align Commerce, and Gemini, an exchange launched by Cameron and Tyler Winklevoss, of Facebook fame. "The issue for everybody in bitcoin right now," Powell says, "is if you started out a few years ago, say, in 2011, you thought that five years from now, it’s going to be flying cars, bitcoin everywhere, fiat currency will cease to exist. Clearly that didn’t happen, and bitcoin isn’t $10,000 a coin. I think a lot of companies created a structure that depended on a high price of bitcoin. When the price went from $1,000 to $200, they could no longer afford to finance their operation." If the price drops further, expect to see more consolidation. And with so many different exchanges out there, it's inevitable more will roll up. -- Daniel Roberts is a writer at Yahoo Finance, covering sports business and technology. Read more: Here's a sign that PayPal is embracing Bitcoin Fantex, the 'athlete stock exchange,' signs first golfer Why Apple, Uber are betting on Super Bowl sponsorship || 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 || 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 || 5 trades to watch after wild month: U.S. stocks rallied on Friday, capping a choppy, losing month for markets. With a cloudy outlook ahead, "Fast Money" traders outlined their best ideas moving forward. Major averages rose more than 2 percent each after the Bank of Japan adopted a negative interest rate policy. The promising day put an end to a rough month in which the S&P 500 (INDEX: .SPX) fell about 5 percent. Traders noted that the up-and-down sessions may continue. In the current environment, "you want to buy anything with a yield," said trader Brian Kelly. He believes the iShares 20+ Year Treasury Bond ETF (NYSE Arca: TLT) has room to climb if investors seek safer bets. Demand for the U.S. 10-year Treasury note (U.S.: US10Y) has already sent its yield 15 percent lower this year, and it lingered near 1.9 percent on Friday. Trader Dan Nathan also stressed that yield is crucial currently. He previously had long trades in Verizon (NYSE: VZ) and the Utilities Select Sector SPDR Fund (NYSE Arca: XLU) , which he sold after the prices of both rose this year. The Market Vectors Gold Miners ETF (NYSE Arca: GDX) has also beaten markets this year, rising 3.6 percent. In that period, the price of gold futures has climbed more than 5 percent. "Something's going on with gold miners to the upside," trader Guy Adami said. Trader Tim Seymour would sell emerging market stocks on strength. The iShares MSCI Emerging Markets ETF (NYSE Arca: EEM) rose more than 3 percent Friday, but Seymour sees "major structural problems" in emerging economies and said he would sell out of the fund. Disclosures: Tim Seymour Tim Seymour is long AAPL, BAC, DO, FCX, INTC, IWM, NKE, T, XOM. Tim's firm is long BABA, BIDU, IWM, PEP, SAVE, SBUX, VALE, WMT. Dan Nathan Dan is long WMT Feb put spread, long PFE buy-write, long TWTR, long TLT Apr risk reversal, long XLP put spread. Brian Kelly Brian Kelly is long BBRY, Bitcoin, GDX, GLD, SLV, TLT, US Dollar; he is short Aussie Dollar, British Pound, CS, DB, EWH, Hong Kong Dollar, UBS, SPY, Yuan. Story continues Guy Adami 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 || 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. || Your first trade for Monday: The "Fast Money" traders delivered their final trades of the day. Tim Seymour was a seller of the iShares MSCI Japan ETF(NYSE Arca: EWJ). David Seaburg was a seller of Twitter(TWTR). Brian Kelly was a buyer of gold(CEC:Commodities Exchange Centre: @GC.1). Guy Adami was a buyer of silver(CEC:Commodities Exchange Centre: @SI.1). Trader disclosure: On December 11. 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, BAC, CLF, DIS, F, FCX, GE, GM, GOOGL, INTC, JCP, JPM, KO, LGF, RL, T, TWTR, VRX. Tim's firm is long BABA, BIDU, MCD, NKE, SBUX, YHOO. David Seaburg: No conflict. Brian Kelly is long BBRY, Bitcoin, GDX, GLD, Hong Kong Dollar, TLT, US Dollar; he is short Yuan, Candaian Dollar, GSG, EEM, EWC, EWH, SPY. Guy Adami is long CELG, EXAS, INTC, Guy Adami's wife, Linda Snow, works at Merck. More From CNBC • Top News and Analysis • Latest News Video • Personal Finance || The myth of Mariana's Web, the darkest corner of the internet: Chances are, like me, the first time you heard about the Dark Web it was described as a foul and depraved marketplace, where children, drugs, and pirated movies could be bought for mere Bitcoin. Tabloids paint it as a place where a veritable "Top 10" of our biggest fears resides. Opportunistic security companies sell threat intelligence services that allude to hunting for bad guys in dark dens that deal in organ harvesting, involuntary human experiments, and more. Like most people, I find the siren song of lurid, spooky bullshit to be irresistible. And the Dark Web's boogeyman aura is all about spooky bullshit. That's despite the fact that the Dark Web is host to a lot of communities that aren't doing anything nefarious (unless you think furries are evil; there's a huge Dark Web furry social network that simply wants privacy). But the organ harvesting dramatics are nothing until we get tothe"deepest part of the web, where people don't want you to go," the so-called "Mariana's Web." The legend of Mariana's Web appears to get its name from the deepest part of the ocean, Mariana's Trench. It's supposedly the deepest part of the web, a forbidden place of mysterious evil -- or at least, that's the mythos a subset of online believers has cultivated. Depending on where you get your Mariana's Web myths, it's where you'll find "thedarkest secretshumanity has in its history," thesecret locationof Atlantis and "the Vatican secret archives," or a database of archives belonging tothe most powerful intelligence agencieson Earth. Many believe that Mariana's is home to an all-powerful,female artificial intelligence entity. Mariana's Web is certainly the definition of spooky BS, especially because it's technically impossible; it's supposedly only accessible through quantum computers -- which currently only exist in science fiction. Yet to the chagrin of people who love facts, it's slowly starting to bereportedas fact. Copy or Embed This Whisper Direct Link Embed Download on theApp Store Download onGoogle Play Get App That's probably not a surprise if you've been watching infosec-challenged traditional media try to cover the finer points of hacking, let alone anything outside Google's reach. But seeing anecdotes and myth start to bubble up into areas that may affect people's actual decisions about risk and safety ... Well it's entertaining, but also worrying when anecdote is substituted for data in an area that often involves law enforcement. That infosec firm clients are asking for threat intelpackagesto include Mariana's Web is information that is also anecdotal, though it's my anecdote, and one I recently heard first-hand. But that new twist, my friends, isn't just the result of clickbait or security company sales drama -- it's the result ofthis fake infographic. An epic troll that people haveinterpreted as fact. I don't know why people don't read things carefully, or avoid fact checking, or want to believe in Atlantis and invisible beings. But I'm glad they do, because it sure makes doing research on dry-as-desert threat intel services way more entertaining. Fingers crossed that the TV take on the very fictional Mariana's Web comes fromThe X-Files, and notCSI: Cyber-- or CNN. [Image credit: Shutterstock] || 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) || Why GAHC Is Like a Biotech Stock: HOUSTON, TX / ACCESSWIRE / December 8, 2015 / Biotechnology stocks have had another huge year in the OTC markets. Generally, biotechnology stocks make some of the largest moves on the OTC. The reason being most of the biggest rags to riches stories on the OTC are biotech companies. Why is that? Most biotechs have long expensive trial phases to get through before they'll ever make a dime of revenue, and going public helps these companies raise the capital necessary to make it to solvency. But, if they do make it through the trial phases the payoff can be huge. Why do speculative investors love biotechs? Biotechnology companies generally have a novel technology or concept to solve a multi billion dollar problem, and earn patents throughout the trial phases. This is why we have been looking at Global Arena Holding, Inc. ( GAHC ). GAHC is not a biotechnology stock, but it shares many of the same properties that make it a company you should look at immediately. Global Arena has invested in Blockchain Technologies Corporation. ("BTC"), and is working toward a full acquisition. BTC leverages the groundbreaking blockchain, which some - like Marc Andreessen - are calling the most significant technology since the internet, and creates patents for novel uses of the blockchain that will solve multi billion dollar inefficiencies across a number of industries. These include financial markets, banking, electronic payment systems, private & public contracts and election services through various applications such as: exchanges, smart contracts and voting. Much like a biotech: - Novel Technology - Solving Multi Billion Dollar Problems - Creating Patents Unlike biotechs, GAHC , is already generating revenues through its election services subsidiary, Global Election Services. To bring it all full circle, GAHC 's BTC will potentially be using its Blockchain Apparatus to make filing patents easier and more efficient, which as mentioned earlier, is a big part of the biotechnology business. Story continues Blockchain technology, which many know as the backbone of the digital currency Bitcoin, is essentially a uncompromisable public ledger of transactions. All transactions are broadcast to a network of subscribing nodes, and each node updates its own copy of the ledger with the new transactions. Once a new group of transactions is verified, a block is created and added to the blockchain. All transactions for the ledger are publicly visible and verifiable based on previous blocks. Essentially, blockchain is a ledger that anyone can add things to but no one can remove anything from. This creates a certain and verifiable record on an electronic system that cannot be hacked. GAHC looks to be one of the first companies to fully leverage and benefit from this technology. This could create movements similar, to several biotechnology companies we've been paying attention to: KaleBios Pharmaceuticals ( KBIO ) has had a huge past few weeks since being taken over by CEO Martin Shkreli, who has spearheaded a 9,830% move. That's no misprint, it shows the kind of movement these high potential stocks can make. Endonovo Therapeutics, Inc. (OTC: ENDV ) has made an 890% move just this week! ENDV is developing two bioelectronic-based platforms for regenerative medicine. Immunotronic(TM), a non-invasive and non-implantable immuno-regulatory device designed to treat inflammatory conditions in vital organs, including acute organ failure; and Cytotronics(TM), a proprietary bioelectronic-based method of creating stem cells with enhanced biological and therapeutic properties. In a Schedule 13G filing, Steve Cohen 's Point72 Asset Management reported owning 1.41 million shares of Cara Therapeutics Inc. (NASDAQ: CARA ) , which accounted for 5.2% of the company's outstanding shares. Cohen's family office owned a mere 24,800 shares of the company as of September 30. The clinical-stage biopharmaceutical company focuses on the development of new chemical products that target the body's peripheral nervous system in order to relieve pain and pruritus. Shares of Cara Therapeutics Inc. ( CARA ) had advanced by more than 100% through the end of September, when the sell-off in biotechnology stocks kicked off. Nevertheless, the stock is still 38% in the green year-to-date, and will most likely continue to be guided by investors' expectations for the success of its product candidates in the upcoming quarters. Biotechnology stocks can make massive moves, Global Arena Holding, Inc. (GAHC) shares several properties which give it the same kind of explosive potential these speculative biotechs have and is already generating revenues with significant increases expected to continue. Make sure to take a close look at GAHC . For more information about the blockchain, click here: http://globalarenaholding.com/blockchain-news/the-beginners-guide-to-blockchain/ Legal Disclaimer/Disclosure: This is a sponsored article. This document is not and should not be construed as an offer to sell or the solicitation of an offer to purchase or subscribe for any investment. No information in this Report should be construed as individualized investment advice. For The Full Disclaimer, click here http://capitalgainsreport.com/disclaimer/ . ​SOURCE: Capital Gains Report​ || The unofficial Goldman Sachs guide to New Year’s resolutions: new york times square new year confetti (REUTERS/Keith Bedford) Workmen clean up confetti and garbage left from New Year celebrations in Times Square in New York January 1, 2013. Exercise. Read more. Save money. Travel. Those are the staple resolutions. But if it’s not that complicated, why are there so many fat, dumb, poor people who don’t even have passports? So, forget about all of the tired, regurgitated resolutions that you recycle unfulfilled year in and out. Here are twenty practical and realistic goals for 2016 that will fundamentally make your life better: Return your hoverboard. You look like a jackass Martin Shkreli. Write down your goals. Less than 10% of people fulfill their resolutions, but the ones who write them down have a much higher success rate. Take it a step further and make a list of what you want to accomplish each day, week, and month. Forget an app; go old school. Turn off Netflix at midnight. Just chill. Get a comprehensive health exam. If possible, from Donald Trump’s physician . Read more . Hardly an original idea, but it’s seldom accomplished. This year, try being specific. Make a list of 10-15 books - a healthy mix of fiction, non-fiction, and a few classics you should have read in college. I’ll get you started with Joseph Conrad’s Heart of Darkness , Mark Bowden’s Killing Pablo , Ron Chernow’s Alexander Hamilton , or this one. Stop drinking soda. While you are at, give up orange juice too. Instead, drink green tea with fresh ginger and manuka honey. It cancels out the ten drinks you had the night before. Stay in on Friday nights . Your weekend will become infinitely better, and your bank account will benefit too. It’s time to act like an adult; get drunk at brunch on Sundays instead. Invest in a Bitcoin wallet . Because it will be the best-performing currency in 2016 . Come back to Twitter . Sure, engagement is down and relevance has peaked. But there is still no better way to efficiently curate news and information. Spend more time with old people . The Greatest Generation now makes up less than 1% of the US population . Find a World War II veteran and take him to lunch from time to time. Plan regular FBTs (Fake Business Trips). Get away from your life for a few days to relax, and, if need be, let some bad out. It’ll make you a better partner and parent. Get promoted . Forget about LinkedIn; it’s the Match.com for the underemployed. Invite your seniors out, get them into a bar and network the old fashioned way. Freshen up your wardrobe . There’s a reason Michael Jordan wore a brand new pair of shoes every game. While you’re at it, donate your old clothes to Career Gea r or Dress for Succes s - non-profits that provide clothing and career guidance to low-income men and women. Take a class. Sign up with a friend to make it more fun and help you see it through. It could be anything - cooking, coding, or photography. The Nikon D810 SLR even comes with free classes. Forget about unrealistic health pledges. You don’t need some insane diet or detox regime. They don’t actually make you live longer. It just seems longer. Eat sensibly, drink in moderation, and exercise; it’s not rocket science. Laugh more . Socialize. Drink. Throw parties. Host drunken game nights. Upgrade your friends if necessary. It’s the life in your years, not the years in your life. Say no to fitness gimmicks . You don’t need to start taking the stairs or parking as far away from the Whole Foods entrance as possible. And don’t prepay for thirty personal training sessions. Take up a competitive sport instead. Remember that feeling as a kid when you’re on the field, not thinking about anything else? Most of us have forgotten how great that feels. So join a basketball league or find someone to play tennis with. And get some of these. Skip the dramatic savings scheme . Giving up the $5 daily latte? Bringing your lunch to work? That just makes you the office pariah. Don’t go crazy with anti-social or unrealistic goals. Keep it simple; spend less than you make, and save up for the big-ticket items until you can afford them. Declare the bedroom technology free. Does this even need an explanation? It means more time for reading, sleep, and sex. And go ahead and upgrade your mattress . We’re talking about 1/3rd of your life. Stay in on New Years Eve . It’s amateur night and it rarely lives up to your expectations anyhow. This year, stay home with a bottle of something nice. Then start January 1 early and productively. Story continues John LeFevre is the creator of @GSElevator on Twitter, and the author of the New York Times bestselling book, Straight To Hell: True Tales of Deviance, Debauchery, And Billion-Dollar Deals NOW WATCH: How the buying power of your dollar has changed over the past 60 years More From Business Insider This guy gave up sugar and got 80% of his calories from fat — here's what happened Donald Trump left Joe Scarborough stunned after being asked about Vladimir Putin killing journalists Here's the ISIS message the female San Bernardino shooter posted on Facebook during the attack [Random Sample of Social Media Buzz (last 60 days)] LIVE: Profit = $552.80 (6.55 %). BUY B20.51 @ $420.00 (#VirCurex). SELL @ $439.09 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org  || LIVE: Profit = $502.77 (5.95 %). BUY B20.51 @ $420.00 (#VirCurex). SELL @ $436.64 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org  || BTCTurk 1289.2 TL BTCe 425.56 $ CampBx $ BitStamp 433.00 $ Cavirtex 591.99 $ CEXIO 435.05 $ Bitcoin.de 393.54 € #Bitcoin #btc || #RDD / #BTC on the exchanges: Cryptsy: 0.00000004 Bittrex: 0.00000004 Average $1.7E-5 per #reddcoin 07:16:00 || $423.99 at 15:15 UTC [24h Range: $403.00 - $467.80 Volume: 41129 BTC] via #btcusdpic.twitter.com/RkPXKSmy6N || #RDD / #BTC on the exchanges: Cryptsy: 0.00000005 Bittrex: 0.00000005 Average $1.9E-5 per #reddcoin 15:45:00 via #p…pic.twitter.com/Skg4VS534q || LIVE: Profit = $571.93 (6.76 %). BUY B20.56 @ $420.00 (#VirCurex). SELL @ $439.91 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org  || BTC: $413.00, S: $14.20, G: $1103.60 | Act: 24,217 Open: 3559 BTC: 54,879.7 | Total: $22,674,747 http://goo.gl/U94Tki  #bitcoin || $425.00 #coinbase; $423.99 #bitstamp; $422.27 #bitfinex; $422.20 #btce; #bitcoin #btc || LIVE: Profit = $886.87 (9.14 %). BUY B23.29 @ $450.00 (#VirCurex). SELL @ $454.90 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org 
Trend: no change || Prices: 389.59, 386.55, 376.52, 376.62, 373.45, 376.03, 381.65, 379.65, 384.26, 391.86
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 2022-01-21] BTC Price: 36457.32, BTC RSI: 22.51 Gold Price: 1831.80, Gold RSI: 56.38 Oil Price: 85.14, Oil RSI: 66.94 [Random Sample of News (last 60 days)] Price of Gold Fundamental Weekly Forecast – Faster Tapering, Slower Rate Hike Expectations Supporting Gold: Gold finished higher last week in a volatile trade. Surprisingly, the source of the volatility wasn’t inflation as some headline writers would like you to believe, but rather the Federal Reserve, in my opinion. While the decision by the Fed to increase the pace of tapering and raise rates was widely expected, investors didn’t expect policymakers to announce as many as three rate raises. However, that’s not the issue. While the pace of tapering was a major concern for weeks leading up to last Wednesday’s monetary policy announcements, the pace at which the Fed will raise interest rates is now a cause of concern. Last week,February Comex goldsettled at $1804.90, up $20.10 or +1.13%. TheSPDR Gold Shares ETF (GLD)finished at $167.81, down $0.35 or -0.21%. The Federal Reserve provided multiple indications last Wednesday that its run of ultra-easy policy since the beginning of the Covid pandemic is coming to a close, making aggressive policy moves in response to rising inflation. For one, the central bank said it will accelerate the reduction of its monthly bond purchases. The Fed will be buying $60 billion of bonds each month starting in January, half the level prior to the November taper and $30 billion less than it had been buying in December. The Fed was tapering by $15 billion a month in November, doubled that in December, then will accelerate the reduction further come 2022. After that wraps up, in late winter or early spring, the central bank expects to start raising interest rates, which were held steady at last week’s meeting. Projections released Wednesday indicate that Fed officials see as many as three rate hikes coming in 2022, with two in the following year and two more in 2024. “Sell the Rumor, Buy the Fact”, Relatively Cheap Prices, Inflation Still Out of Control, Rising Omicron Worries – Those are some of the reasons being cited for last week’s rally in gold after the Fed announced a hawkish strategy. Of course, there isn’t just one right answer. At first glance, I blamed “Sell the Rumor, Buy the Fact”. But after watching the price action in the Treasury yields and particularly the Treasury Yield Curve, I reached the conclusion that the volatile price action was fueled by aggressive position adjusting in the Treasury markets. It would have been easy to follow the Fed headlines calling for three rate hikes and just sell Treasurys. This would have sent yields higher and gold prices lower. But it’s more complicated than that. Treasury investors and consequently gold investors are now paying closer attention to when the Fed will raise rates perhaps as much as three times. Traders now interpret it to mean the Fed will have a lot more time to decide when to raise rates three times in 2022. This is causing investors to make adjustments to their portfolios to reflect a slower pace of rate hikes, which is helping to underpin gold prices. Moving forward just remember this:  Faster tapering, faster rate hikes will be bearish for the gold. Faster tapering and slower rate hikes will underpin gold prices, but I wouldn’t call it bullish. For a look at all of today’s economic events, check out oureconomic calendar. Thisarticlewas originally posted on FX Empire • Rollercoaster Start to Week for XRP as Recent Ranges Broken • EUR/USD Price Forecast – Euro Bounces From Bottom of Range • Silver Price Daily Forecast – Silver Retreats Amid Global Market Sell-Off • Bitcoin Slides Below $46K As There Are No Safe-Havens Among Leading Cryptos • Natural Gas Price Fundamental Weekly Forecast – ‘Widow-Maker’ Indicates Little Chance of Winter Price Surge • GBP/JPY Price Forecast – British Pound Continues to Hang About ¥150 || What was most popular cryptocurrency in Germany in 2021?: The use of cryptocurrency in Germany is increasing rapidly with Bitcoin and Ethereum being widely used in e-commerce to purchase goods. Cryptocurrencies in Germany are regularly transferred and traded and companies have invested their capital in the new digital currency. It is estimated that more than 2.1 million people – 2.62% of Germany’s total population – currently own cryptocurrency with Bitcoin as the leader. The majority of German cryptocurrency owners are in the 18-34 age group (33%). Five per cent of them are 55 and above, meaning cryptocurrencies are largely owned by young, tech-savvy and affluent German residents. Germany is, however, one of the few states in Europe that started to regulate the Bitcoin system. The virtual currency regulation already exists and follows the German Banking Act (Kreditwesengesetz). According to this rule, any person who conducts banking business or financial services for commercial purposes in Germany needs written authorisation by the German Federal Financial Supervisory Agency (GFFSA). The GFFSA has classified digital currencies, in particular Bitcoin, as units of account in the sense of the German Banking Act. It means that commercial Bitcoin platform operators – at least those established in Germany and/or those serving German customers – need a licence from the GFFSA under German law. German tax authorities classify Bitcoin as an ‘economic asset’ (Wirtschaftsgut) that is then subject to income tax according to the German Income Tax Act (Einkommenssteuergesetz). Germany, therefore, seems to be fertile soil for crypto companies. Some of the world’s most successful crypto companies found their place in German territory. 1inch Exchange A liquidity aggregator and a decentralised exchange with smart routing that connects a large number of decentralised and centralised platforms in order to minimise slippage and find the best price for the users. The synergetic effect of its smart contract is substantially beneficial to the Ethereum community. Story continues Bitwala Bitwala offers a banking experience that combines fully protected bank accounts with access to cryptocurrencies, digital assets, and blockchain-based finance. With the firm’s blockchain technology platform, customers can invest in cryptocurrency directly from a bank account and earn up to a 4% annual return on Bitcoin. FinLab FinLab is a Germany-based investment company engaged in the building of companies in financial services technologies. Minespider Minespider is an open blockchain protocol for supply chain due diligence. It offers all stakeholders in the chain the opportunity to introduce and track the origins of the materials extracted, no matter their transformation along the supply chain. The NAGA Group The NAGA Group provides personal finance and investment products under the brand name NAGA and combines and unifies trading, investing, transacting and community across both fiat and crypto. Tangany Tangany provides a custody ‘Wallet as a Service’ for businesses to easily integrate blockchain technology into legacy and new systems via an API. The connectors (Meta Blockchain API) enable clients to connect to the different public (like Ethereum or Bitcoin) and private blockchains (like Hyperledger or Privat Ethereum instances). Coindex With Coindex customers can invest in digital assets like Bitcoin easily and securely. Coindex is the first platform for intelligent crypto portfolios where users can configure index based and individual portfolios in a breeze. CryptoTax CryptoTax is helping individuals and companies in meeting their legal obligations arising from dealing with blockchain-based assets. Blocksize Capital Blocksize Capital makes the DLT – and Blockchain-based asset market accessible for financial institutions. USDX Wallet Lighthouse is a company made up of entrepreneurs and crypto enthusiasts united in their aim of boosting innovation in the digital economy. Bitbond Bitbond improves the issuance, settlement and custody of bonds and other assets with the help of blockchain technology and tokenization. In 2019 Bitbond received regulatory approval from BaFin to run Europe’s first Security Token Offering (STO). IOTA Foundation The IOTA Foundation is the Next-Generation Blockchain and was initiated with a very clear and focused vision of enabling the paradigm shift of the Internet of Things, Industry 4.0 and a trustless ‘On Demand Economy’ through establishing a de facto standardised ‘Ledger of Everything’. || Binance Drops Singapore Cryptocurrency Bourse Application: (Bloomberg) -- Binance Asia Services Ltd., the Singapore affiliate of the world’s largest cryptocurrency exchange, has withdrawn its application to run a bourse in the city-state, ending an effort that started last year to win approval from Singapore’s authorities. Most Read from Bloomberg Fed Doubles Taper, Signals Three 2022 Hikes in Inflation Pivot Crypto Prices Go Haywire on Coinbase, CoinMarketCap.com U.K. Travelers to France Face Stricter Rules to Slow Omicron Omicron Infects 70 Times Faster But Is Less Severe, Study Says China’s Bubble Bursting Has Wall Street Eyeing a 2022 Rally The fiat-to-crypto trading platform Binance.sg will wind down operations and close by Feb. 13, Binance Asia said in an emailed statement. The company was among some 170 firms that applied to the Monetary Authority of Singapore for a permit to provide cryptocurrency services. The withdrawal from the Singapore process is likely to dampen speculation that the Southeast Asian city-state would become the global headquarters for Binance, the company co-founded and headed by the entrepreneur Changpeng Zhao. “We always put our users first, so our decision to close Binance.sg was not taken lightly,” said Richard Teng, chief executive officer of Binance’s Singapore entity. “I am grateful to the Monetary Authority of Singapore for its ongoing assistance to Binance Asia Services and we look forward to future opportunities to work together.” Binance Asia has taken into account “strategic, commercial and developmental considerations globally” in its decision to withdraw its Singapore application, the company said. The MAS said applicants were able to withdraw their applications should they see fit, upon which, those operating under exemption will be required to cease providing regulated payment services. Binance Asia had provided a plan for the cessation of payment services, allowing customers time to seek alternative providers or, if they wished, to liquidate holdings, a spokesperson said. Story continues Founded in China in 2017, Binance Holdings Ltd. hasn’t set up a global base yet. Instead, Zhao has incorporated firms in locations where Binance operates. Zhao, who holds Canadian citizenship and has been based in Singapore for the past two years, has given mixed signals on where he might base his firm, saying places in Europe and the Middle East offered pro-crypto alternatives along with Singapore. The 44-year-old said last month he’d bought his first-ever home in Dubai to show a commitment to the jurisdiction he described as “very pro-crypto,” along with France. Binance has also revived plans to register in the U.K., Zhao told The Telegraph. On Twitter on Monday, Zhao pointed to Binance Asia’s investment earlier this month in a regional private securities exchange called Hg Exchange, which gave it an 18% stake. HGX has a license to trade shares in private companies as well as tokenized assets including rare whiskey. “This investment made our own application somewhat redundant,” Zhao said. “We will continue to work through our partners to grow the crypto industry in Singapore.” Cryptocurrencies extended declines after Binance’s move. Bitcoin, the world’s largest digital coin, fell as much as 3.4% to about $48,284. Ether, the second biggest, dropped as much 4.1%. Binance Asia will refocus its operations toward blockchain technology, according to the statement. “Not all crypto activities are regulated, and increasingly big crypto players might want to consider having distinct regulated and unregulated entities, to optimize their revenue and partnership models across different jurisdictions,” said Chia Hock Lai, co-chairman of the Blockchain Association Singapore. Zhao is the majority shareholder of Binance Asia, according a filing to the Accounting and Corporate Regulatory Authority. Temasek Holdings Pte.’s Vertex Venture Holdings Ltd. is an investor in Binance Asia, the filing shows. Binance’s withdrawal of its Singapore application also raised questions about the future of Teng, a high-flying former regulator who joined the Singapore entity in August. The Singaporean previously held roles including chief regulatory officer of Singapore Exchange Ltd., and spent 13 years at the Monetary Authority of Singapore. “As an organization, Binance deploys its staff globally depending on its strategic needs,” said Hazel Watts, a Binance spokeswoman in Singapore, when asked about Teng’s future role. One option for Binance’s headquarters is the Middle East. The United Arab Emirates’ central bank recently unveiled a digital-asset framework, while regulators in Abu Dhabi and Dubai are poised to begin crypto-licensing in the coming months. But any pivot to the region would have to be shepherded by new leadership. Omar Rahim, Binance’s director for the Middle East and North Africa, wrote in a LinkedIn post that he recently left the company to start a new crypto venture. His replacement has yet to be publicly named. (Adds MAS comment in sixth paragraph) Most Read from Bloomberg Businessweek A Wild, Emotional Year Has Changed Investing—Maybe Forever Tesla Takes Customers to Court to Silence Its Critics in China As Lockdowns Make Vision Worse, Big Tech Eyes an Opportunity China Initiative Set Out to Catch Spies. It Didn’t Find Many A Sunny Place for a Shady Online Business ©2021 Bloomberg L.P. || Why Is Bitcoin Dropping if It’s an ‘Inflation Hedge’?: This morning, the U.S. Bureau of Labor Statistics released updated numbers for its inflation-tracking Consumer Price Index (CPI), showing U.S. inflation has hit a 6.8% annualized rate. That adds up to the highest year-over-year inflation rate since 1982, which is decidedly not great. Among other implications, the number is another nail in the coffin of U.S. President Joe Biden’s “Build Back Better”social spending package. And asset markets? Wall Street had alreadypriced in 6.7% inflation, so the Dow Jones Industrial Average has been pretty much stable as of this writing. Gold saw a modest but noticeablemorning bump, while gold futures have seen achoppy but decent runupover the last six months as inflation fears gestated. Bitcoin, meanwhile, was flat to down this morning, and down more than 25% over the past 30 days. That contradicts one of the most widely cited selling points of bitcoin – that it’s an “inflation hedge,” a place to put your money when fiat is losing real-world value. So what gives? Why isn’t bitcoin rallying as inflation in the world’s biggest economy touches 40-year highs? Here’s the secret that your average YouTubecrypto shillfluencerwill pretty much never spill: The idea that bitcoin is an inflation hedge is purely speculative. It’s compelling, and it may become true in the future, and it may be a rational reason to speculate on bitcoin right now. But it’s not a mechanism that actually functions in the present day. It certainly seems very structurally plausible that it eventually will if bitcoin adoption continues on its current path. If enough companies, economies and individuals transfer a lot of their wealth into bitcoin, its price will become more stable, making its steady and tight issuance policy much more appealing, and reducing the risk of rotating into it when inflation is running hot. That’s how some people use gold, which is why bitcoin is sometimes referred to as “digital gold.” Investor and CoinDesk columnist Nic Carterrecently pointed outthat if bitcoin were to gain adoption similar to gold, it would mean growing 10x from where we are now. That seems like a quite likely future scenario to me. But that’s not where we are now. Currently bitcoin prices are unstable for a number of reasons that have no direct tie to inflation, and if recent price moves are any indication, those forces remain considerably more powerful than the “digital gold” narrative. First and foremost, bitcoin has been on a nearly two-year bull run. The simple mathematics of reversion to the mean and/or the emotional gravity of profit taking made a pullback inevitable. That’s especially true because bitcoin is still quite clearly a speculative asset – its current total valuation of nearly $1 trillion (wow) is based not on current adoption, but on scenarios of future growth. Any speculative asset is particularly vulnerable to uncertainty: Tesla stock, which is now largely a bet on Elon Muskinventing general artificial intelligence, is off roughly as much as bitcoin over the last 30 days. That points to anxiety over the strength of the real economy, most of it focused outside the U.S. China in particular is beginning to show signs of alooming unwind, which would have serious impacts around the globe. But debt and other forms of leverage (even excluding leverage buried in stock prices) are at record levelsbasically everywhere. So things are choppy and could go in a lot of different directions without much notice. A major downward shock would knock a lot of wind out of future-oriented assets, and some investors are de-risking to be on the safe side. Relative to bitcoin’s inflation thesis, the scenario demonstrates the most inconvenient truth of economics and finance: that it’s very hard to definitively prove why nearly anything happens. There’s almost never a chance for a “controlled experiment,” a situation where only one variable changes at a time, allowing its specific impact to be fully observed. The clearest way to really affirm bitcoin’s role as an inflation hedge would be if nearly nothing but inflation was going on, and that’s just not a situation we’re ever going to see in the real world. Instead, on any economic or financial question, there are nearly always a large number of moving parts – including elements even professionals may be completely unaware of. Predicting the future depends on picking the right moving parts to focus on. For bitcoin, at least for now, inflation doesn’t seem to be the story the markets are listening to. || Santa Claus Rally for Crude Oil?: US West Texas crude oil futures(CL) attempts to breakout the resistance at 73 and a Santa Claus rally does show up based on the annual seasonality data for the past 21 years. Seasonality analysis has been working well for West Texas crude oil futures (CL) this year. Take a look at the comparison between the seasonality chart (top pane) from Seasonax (based on 21 years of data) and the crude oil futures (bottom pane) below: It can be observed that after January’s brief consolidation, a rally started in February followed by a pullback in early of March. Next, the rally started in mid of March till Jun. A pullback started in June till August (annotated in pink). Thedirection has been consistent with the seasonality chart from Jan until August. The anomaly stood out from September till mid of October as boxed in yellow where crude oil futures started a strong rally broke above the previous resistance while the seasonality chart was in a consolidation during that period. A sharp correction in crude oil futures started in October till December has been aligned with the seasonality chart. As the crude oil price and the stock market shows relatively high correlation since November as reflected in the deterioration of thestock market breadth, it is a good idea to pay attention to the broad market movement. Watch the YouTube video to find out thecurrent market outlook on S&P 500E-mini Futures (ES). In December, a double bottom pattern can be observed in the seasonality chart while the crude oil futures had a higher low as a test of the previous selling climax in early December. Based on the seasonality chart, crude oil is likely to start a rally after the double bottom until early January next year. It appears that a Santa Claus rally for crude oil futures is on its way based on the current price, which aligns with the seasonality chart. Despite the seasonality chart favors a Santa Claus rally in crude oil futures, it is essential to analyze the price and volume to seek for confirmation withWyckoff analysis methods. In June, crude oil futures had an extensive run up after it broke out from 67 and peaked at 76 after forming a buying climax. Next a change of behavior bar, which was the largest bearish bar since the up wave showed up followed by a change of character (the largest down wave) tested the axis line where the previous resistance-turned-support at 65. From there on,a trading range between 65-76 could be expected according to the Wyckoff methods. A secondary test at 62 in August acted as a spring action of the previous swing low followed by a sign of strength rally peaked at 85, eventually became an up thrust since it failed to commit above the resistance around 77. After the failure to commit above 77, crude oil futures started a sharp correction with increasing of supply back to the support area of 62-65 of the trading range. The down wave with high supply level has been tested in the past two weeks with decreasing of supply and a higher low, which is an encouraging sign for a bullish case. Should crude oil futures break above 73, it is expected to test the resistance zone between 75-77 followed by 80, which could be the Santa Claus rally for crude oil futures. Else, it might come back to test the swing low near 65 to consolidate further between the trading range 65-73. Click here to visit TradePrecise.comto get additional market insights in email for free. Thisarticlewas originally posted on FX Empire • The Second Biggest SHIB Whale Holder Buys $2.8 Million of SLP • USD/JPY Price Forecast – US Dollar Continues to Grind Higher • Bitcoin and Ether Consolidate Above Support, DOGE Eyes Upside Break • Natural Gas Price Fundamental Daily Forecast – Weather Rally Weakens Ahead of Potentially Bearish EIA Report • USD/CAD Daily Forecast – U.S. Dollar Is Losing Some Ground Against Canadian Dollar • GameStop’s Stock Price Continues to Rally Following Crypto Adoption || Recent Analysis Shows Crypto Traders Could be Compliant with Tax Laws: According to data from Santiment, traders are looking towards words around taxes on social media platforms. The fast growth in cryptos has seen an influx of new cryptocurrency investors and traders, attracting significant attention from HMRC and many tax authorities worldwide. Consequently, these regulatory bodies are actively enquiring into crypto businesses and investments to make sure they pay their fair share. Crypto Traders Have ‘Taxes’ on their Minds Capital gains tax rules apply to cryptocurrencies such as Bitcoin and Ethereum . The tax authorities treat all cryptocurrencies like crypto assets, and you are obliged to pay taxes if you sell them at a profit. Also, just like when you sell an investment at a loss, you can claim a capital loss if the cryptos have declined in value. However, these crypto taxes also come with inevitable additional wrinkles. One is also liable to pay crypto taxes when you mine crypto and use cryptos to pay for goods or services. Other taxable events include crypto-fiat trades, crypto to crypto trades, income earned in crypto. However, simply purchasing and holding crypto in a wallet is not taxable. Additionally, transferring cryptocurrency from one wallet to another that is yours is not taxable. If you believe that crypto is anonymous and therefore not subject to taxation, you should secondly consider it. Unpaid taxes often accrue interests and attract penalties each day they are unpaid. Moreover, the IRS pursues unpaid tax amounts through liens on private property, seizure of property, garnishment of wages, and more. Any investor tempted to evade tax ought to beware of the tax man’s growing reach. However, as 2021 comes to a close, some trending hashtags show that crypto traders are ready and willing to comply with these tax regulations. There are certain ways investors can reduce their tax obligations to preserve wealth. For instance, one can go with tax-loss harvesting . This involves selling crypto assets at a loss to offset any tax liabilities associated with capital gains. Additionally, long-term capital gains offer significantly lower taxes than short-term gains. If you can hold your cryptos for a period longer than a year, it may reduce your tax burden. Elon Musk Could Pay Over $11 Million in Taxes Elon Musk is set to pay the biggest tax bill in U.S History in the coming tax season, amounting to over $11 billion for 2021. These taxes were incurred by exercising stock options and result from capital gains taxation. His net worth currently stands at $243 billion, and he has accumulated over $87 billion in 2021. Story continues As enterprise and institutional adoption in crypto continue to increase, crypto regulations are getting tighter. A strong crypto taxation strategy is also there, and regardless of whether people think it’s a good or bad thing, the majority are starting to accept and comply with these rules. This article was originally posted on FX Empire More From FXEMPIRE: Nike Shares Soar After Analysts Boost Price Targets Post Solid Q2 Earnings; Slowdown in China a Headwind Natural Gas Price Fundamental Daily Forecast – Traders Waiting to See Which Way Canadian Cold Moves Fortinet Keeps Securing Big Money Shiba Inu Promoter Ask the Doctor Dubs the Token’s Founders ‘Scammers’ EUR/USD Price Forecast – Euro Floundering EUR/USD Mid-Session Techical Analysis for December 21, 2021 View comments || First Mover Asia: Bitcoin, Altcoins Rebound Amid Light Trading: Good morning. Here’s what’s happening: Market moves:Bitcoin led crypto’s small recovery from last week’s sell-off, but spot volume remained thin over the weekend. Technician’s take:BTC upside is limited as long-term technical indicators turned negative. Catch the latest episodesofCoinDesk TVfor insightful interviews with crypto industry leaders and analysis. Bitcoin (BTC): $41,845 +0.1% Ether (ETH): $3,154 +2.0% S&P 500: $4,677 -0.4% DJIA: $36,231 -0.01% Nasdaq: $14.935 -0.9% Gold: $1,796 +0.2% Bitcoin pushed past the $42,000 level over the weekend after last week’s broad market bloodbath, which sent the No. 1 cryptocurrency by market capitalization spiraling toward $40,000 from about $48,000. At the time of publication, ether and most of the altcoins in CoinDesk’s top 20 by market capitalization were up, although still way down over the past week. Bitcoin and most other cryptocurrencies fell last week amid the Federal Reserve’s release of minutes from its December meeting. The Fed signaled that it would tighten monetary policy faster than was once expected. The leading cryptocurrency fell to as low as $40,505.30 on Coinbase on Saturday, its lowest level since Sept. 21, before it rebounded above $42,000, data from TradingView and Coinbase show. But as markets in Asia open, it remains uncertain whether the recovery will last since bitcoin’s spot trading volume across major centralized exchanges on Sunday was thin, according to data compiled by CoinDesk. (At the time of publication, bitcoin’s price had sunk below $41,900.) Bitcoin fell for six straight days before the weekend and the downward move escalated after the Fed minutes showed that policymakers discussed aggressive interest rate hikes and a faster pace to normalize its balance sheet. “The minutes confirmed a strong hawkish bias with markets now pricing in a 90% chance of a Fed [rate] hike in March,” Singapore-based crypto quant trading firm QCP Capital wrote in its Telegram channel on Sunday. “... In the bigger picture, it seems likely that the all-time highs in BTC and ETH will remain capped for most of 2022 as a result of central bank tightening.” Bitcoin Oversold Within Downtrend; Resistance at $45K Bitcoin (BTC) remains in a two-month downtrend defined by a series of lower price highs. The cryptocurrency was down about 9% over the past week as upside momentum continued to slow. There is minor support around $40,000, which could stabilize the current pullback. However, upside appears limited around the $45,000 resistance level. This means buyers could quickly take profits if a price bounce occurs. The relative strength index (RSI) on the daily chart is the most oversold since Dec.11, albeit within a price downtrend. Over the long term, BTC is vulnerable to further selling, especially if buyers fail to hold the $38,000-$40,000 support zone over the weekend. On the weekly chart, the RSI is not yet oversold, which suggests the downtrend remains intact. Lower support is around $28,000, which is near the June 2021 low. BTC is roughly two weeks away from registering a downsideexhaustionsignal, which typically precedes acountertrendprice bounce. Still, similar oversold readings on the daily chart have been delayed as buyers remain on the sidelines. Australia TD securities inflation (Dec. MoM/YoY) China new loans (Dec.) 8:30 a.m. HGT/SGT (12:30 a.m. UTC) Australia building permits (Nov. MoM/YoY) 3 p.m. HGT/SGT (7 a.m. UTC) China M2 money supply (Dec. YoY) 5:30 p.m. HGT/SGT (9:30 a.m. UTC) Eurozone Sentix consumer confidence (Jan.) In case you missed it, here are the most recent episodes of“First Mover”onCoinDesk TV: US Economy Added Fewer Jobs in December Than Expected, Paul Brody on Why He Thinks 2022 Is the Year of Ethereum and More “First Mover” hosts spoke with Ernst & Young Principal & Global Innovation Leader Paul Brody about his outlook for Ethereum in 2022 and some of the key issues that need to be addressed. Looking at the markets, the U.S. economy added 199,000 jobs last month, fewer than expected. Ben McMillan, CIO of IDX Digital Assets, shared his view on the crypto markets and the impact of macro factors. Plus, Open Earth Foundation Executive Director Martin Wainstein shared insights into using NFT art to help tackle climate change. India’s Central Bank Creates Fintech Department as Challenges Posed by Crypto, CBDC Grow:According to an internal document viewed by CoinDesk, the upgrading of the unit into its own department is aimed at promoting innovation in the sector. Industry Body for Indian Startups Seeks Crypto Rules in Coming Budget Session of Parliament:The development comes a few days after news broke that tax agencies “inspected” offices of five major cryptocurrency exchanges in the country and “recovered” over Rs 84 crore ($11 million). Binance.US Is Building an Office in the Solana Metaverse:Several crypto companies are setting up shop in Portals. PayPal Is Exploring Creating Its Own Stablecoin as Crypto Business Grows:Hidden code in the company’s iPhone app shows that a potential “PayPal Coin” would be backed by the U.S. dollar. Bitcoin Falls Toward $40K, Racks Up Longest Losing Streak Since 2018:Cryptocurrency analysts had warned of the possibility of a steeper sell-off, and now traders are wondering when and where the market shakeout might end. JPMorgan Sees More Crypto Adoption in 2022, Debates Bitcoin’s Status as Store of Value:The investment bank also continues to rate crypto exchange Coinbase as a buy. The Inside Story of How India’s Crypto Exchanges Were ‘Inspected’ by Tax Agencies:Two agencies, five months, five crypto exchanges, 100-plus officers, more than Rs 700 million in tax recovery, and yet the scale of the misdemeanor, excused by “ambiguity,” remains unknown. Today’s crypto explainer:Ethereum Nodes and Clients: A Complete Guide Other voices:The New Get-Rich-Faster Job in Silicon Valley: Crypto Start-Ups(The New York Times) “Even more than in equities, Warren Buffett’s timeless advice applies: Be fearful when others are greedy, and greedy when others are fearful.” (CoinDesk columnist David Morris) “I look at the DAO space and definitely can see how tokens, governance systems, cross-border and trustless relationships can help with executing completely legitimate causes (like ConstitutionDAO). I also believe this may be the right path towards more complex and perhaps legally self-sufficient constructions. But we’re not there yet.” (ATH21 CEO Cristina Carrascosa in a CoinDesk op-ed) ”Policymakers should think holistically about three realities. One is that climate change is not going away. The other is that Bitcoin is not going away. The third is that Bitcoin’s geography-agnostic miners are highly adaptable and will continue to seek out the most cost-effective energy sources anywhere and anyhow.” (CoinDesk Chief Content Officer Michael Casey) || Ravencoin (RVN) Rallies Ahead of its Halving Event Later this Month: Halving events are usually popular within the cryptocurrency as they are occasionally followed by a rally in the price of a cryptocurrency. Bitcoin’s recent halving was in 2020, and its fork, Ravencoin , is set to undergo a similar process later this month. Ravencoin’s Halving Event is in Seven Days Ravencoin is a protocol based on a fork of the Bitcoin source code. However, the cryptocurrency has additional features designed to allow users to issue security-like tokens on its blockchain. Similar to Bitcoin, Ravencoin uses the Proof of Work (PoW) consensus mechanism. However, Ravencoin’s mining process relies on the X16R algorithm, which is intended to be ASIC resistant. Another major difference between Bitcoin and Ravencoin is the reduced block time, block rewards of 5000 RVN and the ability to issue assets and sub-assets on the Ravencoin blockchain. Ravencoin Halving is the event where the number of generated RVN rewards per block is reduced by 50%. The upcoming halving event will see the total number of RVN mined by miners per block reduce from 5,000 to 2,500. The halving event will occur at block 2,100,000. Following the halving event, the number of RVN tokens found per block will reduce. RVN Rallies by More Than 13% in 24 Hours RVN, Ravencoin’s native coin, is up by more than 13% over the past 24 hours. The rally comes as the Ravencoin community prepares for the halving event, which will take place in approximately seven days. In 2021, RVN’s value soared by more than 800%, outperforming other Bitcoin forks. RVN’s MACD line juts crossed the neutral zone. Source: FXEMPIRE RVN is currently trading at $0.1212, which is higher than its 50-day moving average price of $0.1023. The MACD line just crossed the neutral zone following the latest rally, while the RSI of 64 shows that RVN could soon enter the overbought region. The cryptocurrency could look to rally higher and reach the $0.15 resistance level over the next few hours. If the rally continues, RVN could top the $0.20 level before the halving event in a week. Story continues This article was originally posted on FX Empire More From FXEMPIRE: South Korea’s Naver and Kakao Follow Binance Out of Singapore NEAR Looks Ready To Test All-Time Highs EUR/USD Price Forecast – Euro Continues to Drift Lower USD/JPY Price Forecast – US Dollar Leaves No Down Crude Oil Price Forecast – Crude Oil Markets Continue to Strengthen Third-largest Whale Buys 456 BTC to Celebrate 13th Bitcoin Anniversary || Man seeks to excavate landfill that allegedly has half a billion dollars in bitcoin: Newport, a seaside city in Wales, is famous for its docks and industrial heritage — and for allegedly having half a billion dollars worth of Bitcoin buried in its local landfill. Former IT worker James Howell mined the cryptocurrency back in 2013, well before its value skyrocketed. In a mix-up, he accidentally threw away the hard drive its access key was stored on. "I found a blank 20GB hard drive in my drawer instead of thousands of Bitcoin," Howell told CBS News. Since then, he's been lobbying the local government to allow him to excavate tons of trash in the landfill as part of an attempt to find it. But local officials are refusing to let him. "There are companies out there that dig at the bottom of the ocean for treasure. Digging a landfill is a damn sight bit easier than digging at the bottom of the ocean," said Howell. He said he's contacted experts from around the world as part of his attempt to recover his huge Bitcoin fortune. Despite offering Newport City Council a cut of the coins if he were to find them, it continues to refuse the proposal citing environmental damage it could cause and that the council's "duty is to provide services to our residents" — something it said Howell's plan would get in the way of. Still, Howell is determined to keep trying to find the hard drive. "I'm not gonna to give up on it, because it's you know, like I said, it's a lost lottery ticket," he said. " A lottery ticket would disintegrate but a hard drive doesn't. It's not going anywhere." Saturday Sessions: Norah Jones performs “Christmas Don’t Be Late” Saturday Sessions: Norah Jones performs “Blue Christmas” Saturday Sessions: Norah Jones performs “Christmas Calling” || While Economic Data Puts the GBP in Focus, COVID-19 News Updates Will Be Key: Earlier in the Day: It was a quiet start to the day on the economic calendar this morning. The Kiwi Dollar was in action early this morning. On the monetary policy front, the PBoC also set loan prime rates for the final time this year. While leaving the 5-year unchanged at 4.65%, the PBoC cut the 1-year LPR from 3.85% to 3.80% this morning. For the Kiwi Dollar Consumer sentiment waned in the 4 th quarter. The Westpac Consumer Sentiment Index fell from 102.7 to 99.1%. According to the 4 th quarter survey , Rising mortgage rates, as well as ongoing concerns over COVID and its variants weighed. Looking at the sub-components: Compared with the 3 rd quarter, the current financial situation sub-index fell by 7.1 to -10.7 versus an average -8.5. The outlook also darkened, with the expected financial situation sub-index falling from 16.1 to 6.9. With regards to the economy, the 1-year economic outlook sub-index fell from -5.6 to -11.2. The 5-year economic outlook sub-index saw a more modest decline from 11.5 to 10.0. Bucking the trend, was a rise in the Good time to buy index from -5.2 to 0.4. This remained well below the 24.4 average, however. In November, New Zealand’s trade deficit narrowed from NZ$1,302m to NZ$864m. Year-on-year, the deficit widened from NZ$4,900m to NZ$6,040m. According to NZ Stats , Compared with November 2020, Goods exports rose NZ$668m (13%) to NZ$5.9bn. Milk powder, butter, & cheese rose by NZ$258m (14%). Aluminium and aluminium articles up NZ$141m (151%). Aircraft and parts fell by NZ$113m (89%). Food preperations declined by NZ$82m (36%). Goods imports rose NZ$1.8bn (37%) to NZ$6.7bn. Mechanical machinery & equipment up NZ$244m (36%). Vehicles, partes, & accessories rose by NZ$187m (32%). Petroleum & products increased by NZ$150m (53%). Ships, boats, & floating structures up NZ$146m. The Kiwi Dollar moved from $0.67333 to $0.67448 upon release of the figures. At the time of writing, the Kiwi Dollar was down by 0.30% to $0.6730. Story continues Elsewhere At the time of writing, the Japanese Yen was down by 0.04% to ¥113.580 against the U.S Dollar, with the Aussie Dollar down by 0.14% to $0.7115. The Day Ahead For the EUR It’s a particularly quiet day ahead on the economic calendar. There are no material stats to provide the EUR with direction. The lack of stats will leave COVID-19 news updates in focus. At the time of writing, the EUR was flat at $1.1240. For the Pound It’s relatively quiet day ahead on the economic calendar . CBI Industrial Trend Orders for December will be in focus this afternoon. With little else for the markets to consider, expect Pound sensitivity. Away from the economic calendar, COVID-19 news updates will also need continued monitoring. At the time of writing, the Pound was down by 0.14% to $1.3227. Across the Pond It’s a particularly quiet day ahead on the economic calendar. There are no major stats to draw interest, leaving any FOMC member chatter to influence. At the time of writing, the Dollar Spot Index was up by 0.04% to 96.599. For the Loonie It’s also a particular quiet day ahead on the economic data front. There are no material stats due out to provide the Loonie with direction. The lack of stats will leave the Loonie in the hands of crude oil prices and market risk sentiment. At the time of writing, the Loonie was down by 0.05% to C$1.2895 against the U.S Dollar. 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: European Equities: A Quiet Economic Calendar Leaves Omicron News to Test the Majors USD/JPY Fundamental Weekly Forecast – Investors Not Conviced Faster Tapering Means Faster Rate Hikes Bitcoin and Ethereum – Weekly Technical Analysis – December 20th, 2021 Federal Reserve Curtails Economic Stimulus Plans: Can Bitcoin Resume Its Momentum? Price of Gold Fundamental Daily Forecast – Are Investors Betting Faster Tapering Slows Pace of Rate Hikes? Crude Oil Price Update – Short-Term Direction Determined by $71.39 and $70.90 [Random Sample of Social Media Buzz (last 60 days)] None available.
Trend: up || Prices: 35030.25, 36276.80, 36654.33, 36954.00, 36852.12, 37138.23, 37784.33, 38138.18, 37917.60, 38483.12
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] Not fully available. [Random Sample of News (last 60 days)] Bitcoin Liquidations Lead $400M in Futures Losses After Drop to $35.7K: Don't miss CoinDesk'sConsensus 2022, the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12. Liquidations on crypto-tracked futures exceeded $400 million in the past 24 hours as bitcoin (BTC) dropped to as low as $35,700, setting the tone for a downturn in the broader crypto market. Bitcoin futures racked up $191 million in losses alone,Coinglass data shows, suggesting most trading activity and open interest was limited to the largest cryptocurrency by market capitalization. Ether (ETH) futures followed with $64 million in losses. Liquidations occurwhen an exchange closes a leveraged position as a safety mechanism due to a partial or total loss of the trader’s initial margin. That happens primarily in futures trading, which only tracks asset prices, as opposed to spot trading, where traders own the actual assets. Bitcoin fell from $39,800 on Thursday morning to below the $36,000 support level following a sell-off in U.S. equities.Reportssuggested the plunge came as traders priced in higher rates to curb inflation in the U.S., despite a rally on Wednesday after Federal Reserve Chairman Jerome Powell said the country would do everything in its power to curb inflation. Major cryptocurrencies showed relatively lower losses. Futures tracking Solana’sSOLsaw $9 million in losses, followed by Terra’sLUNAat $6.7 million. That was despite the two tokens losing as much as 10% in the past 24 hours – suggesting the sell-off was led by spot assets. Among other alternative currencies, apecoin (APE) futures saw the most losses at $11 million, followed by stepn (GMT) at $10.36 million. Dogecoin (DOGE) futures lost $4.56 millionafter underperforming the marketon Thursday. Over $161 million in liquidations occurred on OKX, the most among crypto exchanges. Binance followed with $104 million while FTX saw $56 million,data showed. || Euro Gives up Early Gains: TheEurohas rallied significantly during the trading session on Thursday but gave back gains near the crucial 1.0933 short-term resistance barrier. By doing so, the market shows just how much negativity there is. At this point, the 1.08 level underneath continues to be significant support, which I believe extends down to the 1.06 level. That is an area that has been very noisy over the longer term, and therefore I think it is going to be difficult to break through it, as the market will be very noisy in that area. It is not that we cannot break down below there, it is just that it is going to take quite a bit of effort. When you look at the fundamentals, the European Union continues to struggle with energy. This is going to be a major problem for their economy, and therefore it is difficult to imagine a scenario where the ECB can jump into the market and start tightening monetary policy without causing some type of major issue. The interest rate differential will continue to expand between the United States and the European Union, thereby adding more pressure to the downside. Furthermore, the overall trend has been negative for so long that it is going to take quite a bit of inertia to turn things around. If we were to do that, at the very least we need to get above the 50 Day EMA. That obviously would take a lot of momentum, and even then, I am not completely convinced until we get above the 1.12 handle. At this point, it looks like the market is going to continue to be a “fade the rally” type of situation. For a look at all of today’s economic events, check out oureconomic calendar. Thisarticlewas originally posted on FX Empire • Best Travel Stocks To Buy Now • Silver Remains Under Pressure As Gold Settles Below $1950 • Best Dividend Stocks to Buy Now for May 2022 • Crude Oil Markets Continue to Show Signs of Life • Bitcoin and ETH Regain Traction, Why LUNA’s Rally Isn’t Over Yet • US Stock Markets Attempt to Recover || Sweatcoin Makes You Move To Earn Crypto in Latest Web3 Onboarding Attempt: Ivanko_Brnjakovic / Getty Images/iStockphoto It’s rewarding to work up a sweat and get into physical shape, but it’s even more rewarding to earn crypto for that sweat . Tech company Sweatcoin announced the launch of SWEAT, a token designed to reward Sweatcoin app users for being physically active by converting physical movement into crypto. Learn: 6 Alternative Investments To Consider for Diversification in 2022 Find Out: 8 Best Cryptocurrencies To Invest In for 2022 The crypto is designed to capture the value of movement and is minted purely by steps, the company said, adding that it’s “pioneering a societal shift by empowering people to improve their health, and get paid for it.” Asked what prompted the idea of the token, Oleg Fomenko, co-founder at Sweatcoin, told GOBankingRates that, “we were worried about the problem of the increasingly sedentary, unhealthy lives we are leading and the far-reaching ramifications of this for both us, as individuals, and society as a whole.” “We want to make a billion people more active. The question kept coming – how can we make it more incentivizing for people to move that little bit more. Sweatcoin was the answer – an app that counts your steps and rewards you for them,” said Fomenko. Fomenko explained that while the company had the idea of a crypto reward mechanic in mind “from day one,” crypto wasn’t ready for mass market utilization in 2015 and so Sweatcoin developed as a rewards-currency app. “And it’s working: our 63 million users walk an average of 20% more after downloading the app. SWEAT – the token, which we’re announcing this week, is the turbo-charging of that vision…a vision to create wealth through health,” he said. SWEAT will be built on Ethereum and use the eco-friendly NEAR as the blockchain for its token, and the Near Foundation is investing in the project. Other institutional backers include Electric Capital, Spartan Capital, Jump Crypto, OKX Blockdream Ventures (the venture arm of OKX) and GSR, as well as high-profile founders and builders like Terra founder Do Kwon, Sandeep Nailwal, founder of Polygon (MATIC) and Bjorn Wagner, co-founder of Parity (Polkadot), the company said. Story continues The company said that each SWEAT user will be given a Sweat Wallet which will generate fees by enabling a suite of DeFi functions, such as the exchange of SWEAT into other crypto, liquidity provision and staking. The token enables people to exchange it for goods, services and experiences ranging from high-tech shoes to iPhones, from anti-gravity yoga classes to Apple Watches. “There are many things you can do with your SWEAT, with new features being added constantly. First of all, you will be able to stake your SWEAT to receive a really attractive return on it,” Fomenko said. “You will also be able to exchange it for other cryptocurrencies, like Bitcoin, so that you are literally walking for Bitcoin.” Additional features on the roadmap include the use of SWEAT in DeFi – whether that is for staking, liquidity provision, or other crypto opportunities, the ability to purchase NFTs, sell your personal data for more SWEAT or buy premium subscription services, Fomenko said. Users will also be able to convert the token into other cryptos or fiat currency. In terms of the audience the company is targeting, Fomenko said, “anyone and everyone.” POLL: Where Have You Cut Back Most Because of Inflation? Discover: What Is the Next Big Cryptocurrency To Explode in 2022? “We should and can all get more movement into our daily lives. With SWEAT, the token we’re also keen to see more Web 2 users embrace the possibilities and potential of crypto in the lowest risk way possible – by literally walking for it,” he said. More From GOBankingRates 10 Things You Always (and Never) Should Buy at the Dollar Store Women & Money: The Complete Guide Simple Ways To Start Investing for Any Budget 37 Life Hacks That Will Save You Money This article originally appeared on GOBankingRates.com : Sweatcoin Makes You Move To Earn Crypto in Latest Web3 Onboarding Attempt || Executive Compensation News Is Crushing Roblox Stock: Back during the height of the novel coronavirus pandemic, online gaming platform and creation system Roblox (NYSE: RBLX ) fit almost perfectly in the new normal. But as the global health crisis fades into the rearview mirror, investors are getting down to the financial brass tacks — putting RBLX stock in an uncomfortable light due to executive compensation information that a securities filing revealed. According to a report from the Wall Street Journal , Roblox co-founder and CEO David Baszucki received a pay package that the gaming firm valued at $233 million last year. That level of compensation puts him “in the ranks of the country’s top-paid chief executives.” Of course, good leaders are worth their weight in gold. However, although this is true, the focus then shifts toward RBLX stock, where the narrative takes a less-than-ideal turn. Since this report emerged on Monday evening, RBLX stock has dropped about 10%. Additionally, on a year-to-date (YTD) basis, Roblox shares have tanked 56%. And since its first public closing price, RBLX stock is down more than 35%. Such performance — or lack thereof — brings up the debate about whether high-powered executives are paid too much relative to employees down the chain of leadership. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Per a Fortune article, “The median pay for U.S. CEOs is on pace to set a record in 2021, rising an incredible 19% year over year. That’s compared with a paltry 4.7% increase in average hourly earnings for Americans last year. Even worse, average Americans watched their real wages—wages adjusted for inflation—decline 2.6% in February compared with a year ago.” Meanwhile, the article points out, “nearly one-third of CEOs saw their pay packages increase by at least 25% last year, according to a Wall Street Journal analysis of MyLogIQ data, and only around a quarter of CEOs took a pay cut in 2021 amid the pandemic.” 7 Biotech Stocks to Buy With Key Catalysts for April Still, other research regarding the return on investment on CEO compensation is mixed, according to Harvard Law School. “Prior studies conclude that CEOs are responsible for as little as 4 percent and as much as 36 percent of company performance . Corporate directors estimate that CEOs are responsible for 40 percent of performance.” Overall, though, one thing does seem clear: if RBLX stock doesn’t start moving up higher and quickly, the rancor regarding the pay-versus-performance debate will likely escalate. Story continues 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 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. 10 Stocks Are Issuing Sell Signals Early Bitcoin Millionaire Reveals His Next Big Crypto Trade “On Air” The post Executive Compensation News Is Crushing Roblox Stock appeared first on InvestorPlace . View comments || A Spot Bitcoin ETF Still Seems Unlikely: Don't miss CoinDesk'sConsensus 2022, the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12. Severalbitcoin futures exchange-traded fundsare now trading in the U.S., with more to come, but a spot bitcoin ETF remains elusive. Industry proponents hope that the recent approval of a futures ETF filed under the same law that governs spot bitcoin ETF applications is a good sign, but the U.S. Securities and Exchange Commission has a laundry list of concerns that still need to be addressed. You’re reading State of Crypto, a CoinDesk newsletter looking at the intersection of cryptocurrency and government.Sign up hereto get it in your inbox every Tuesday. Another bitcoin futures exchange-traded fund (ETF) wasapproved for the U.S. market last week. And unlike the case for the others, the way it’s structured opens the door for aspot bitcoin ETF, something the industry has long clamored for. Recent spot bitcoin ETF rejections, however, suggest it may not be that simple. A spot bitcoin ETF would trade based on the price of bitcoin, as opposed tofutures ETFs, which trade based on the price of bitcoin futures. Bitcoin futures are a smaller market than spot bitcoin and aren’t directly correlated to the price of bitcoin (since again, they are futures). Crypto industry proponents have been calling for a spot ETF as a safe way for traders to enter the bitcoin market without directly investing in the cryptocurrency itself. The SECapproved a bitcoin futures ETF last week. Unlike previous futures ETF applications, this one was filed under the “33 Act” (or the Securities Act of 1933) and the “34 Act” (or the Securities Exchange Act of 1934). All of the past bitcoin futures ETFs were filed under “40 Act” (the Investment Company Act of 1940). Iasked last yearwhether 2021 would be the year of the bitcoin ETF and concluded – in February – that the answer was basically 🤷. The question now is whether 2022 will be the year of the spot bitcoin ETF, and the answer seems to be more 🙅 than 🤷. SEC Chairman Gary Gensler said last year he felt more comfortable with 40 Act funds because of the investor protections enshrined within the law, as well as the market surveillance tools overseeing the futures market. The bulk of the volume is on Chicago Mercantile Exchange, a traditional firm with long-standing surveillance tools in place. The SEC’s recent rejection orders seem to echo this premise. “The Commission concludes that BZX has not met its burden under the Exchange Act and the Commission’s Rules of Practice to demonstrate that its proposal is consistent with the requirements of Exchange Act Section 6(b)(5), and in particular, the requirement 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,’”SEC staffers wrotein rejecting the ARK21Shares Bitcoin ETF. The SECused identical languagea month earlier in rejecting the NYDIG Bitcoin ETF. But people want a bitcoin ETF. ANasdaq surveyof 500 financial advisers found that 72% would be more comfortable investing in crypto if there was also a spot ETF. An important caveat here is this survey was of financial advisers who are already considering allocating funds to crypto, and so the respondents weren’t necessarily representative of financial advisers at large in the U.S. Let’s back up. The reason I’m talking about this today is that the SEC approved Teucrium’s bitcoin futures ETF to begin trading last week. Unlike ProShares, Valkyrie or VanEck, Teucrium filed for a 33 Act fund. The approval jump-started fresh speculation that a spot bitcoin ETF may be closer to approval. At the very least, the 33 Act approval would seem to serve as evidence should a company such as CoinDesk sister firm Grayscale decide to file a legal challenge of some sort to a future SEC rejection. Grayscale has already argued that the previous futures ETF approvals create ground for the approval of a spot ETF (Grayscale filed to convert its Grayscale Bitcoin Trust to an ETF). The bitcoin derivatives markets have identical exposure to fraud and manipulation that the spot markets might have, Grayscale’s attorneyswrote in a letterto the regulator last year. “It is of course foundational that the Commission – like any other federal regulatory agency – must treat like situations alike absent reasoned justification,” the letter said. The SEC took aim at that argument in itsTeucrium approval order, with staffers writing that they accepted NYSE Arca’s argument that for anyone to manipulate bitcoin futures ETF prices, they would have to manipulate CME’s bitcoin futures market directly, and not just the bitcoin spot market. “The Commission has considered and rejected nearly identical arguments in past disapproval orders of spot bitcoin ETPs. Moreover, the Commission finds arguments centered around the relationship between the bitcoin spot market and the CME bitcoin futures market to be inapposite where, as here, the proposed ‘significant’ market (i.e., the CME bitcoin futures market) is the same as the market on which the proposed ETP’s only non-cash assets (i.e., CME bitcoin futures contracts) trade,” the SEC wrote. In its recent rejections, the SEC wrote that the stock exchanges sponsoring spot crypto ETFs have “not sufficiently” argued against the agency’s concerns about manipulation and fraud. “Such possible sources have included (1) ‘wash’ trading, (2) persons with a dominant position in bitcoin manipulating bitcoin pricing, (3) hacking of the bitcoin network and trading platforms, (4) malicious control of the bitcoin network, (5) trading based on material, non-public information, including the dissemination of false and misleading information, (6) manipulative activity involving the purported ‘stablecoin’ Tether (USDT), and (7) fraud and manipulation at bitcoin trading platforms,” the SEC wrote. The agency has also said it’s concerned that the crypto spot exchanges are themselves unregulated (left unsaid is that they are unregulated at the federal level, not the state level as every U.S. crypto exchange is supposed to be). Given that the SEC has consistently expressed concerns about market manipulation in rejecting spot bitcoin ETF applications, it seems likely (to me anyway) that the agency will continue to reject spot ETF applications, at least for the foreseeable future. U.S. President Joe Biden has nominated Jaime Lizárraga and Mark Uyeda to fill two seats on the SEC. Lizárraga is now a senior adviser to House Speaker Nancy Pelosi (D-Calif.), while Uyeda is an SEC attorney working with the Senate Banking Committee minority staff as securities counsel, according toa White House press release. Elsewhere,Politico’s Victoria Guida reportsthat Michael Barr, a former Treasury Department official, former Ripple board member and current dean at the University of Michigan is under consideration to be the Federal Reserve's vice chairman for supervision, the role Sarah Bloom Raskin was previously nominated for. Barr was also under consideration for comptroller of the currencylast yearbut received pushback. • Crypto Rules Should Match Traditional Financial System, Yellen to Say Thursday:Treasury Secretary Janet Yellengave a speechon the crypto industry and how it may be regulated, calling for “tech neutral” rules. • France's Presidential Candidates Ignore Crypto Issues:A few weeks ago, we published an article on how South Korea’s presidential candidates were pitching to crypto voters in the country. Half a world away, crypto is barely on the radar in France’s election, which saw incumbent Emmanuel Macron and challenger Marine Le Pen advance to a runoff. • Top US Lawmaker Proposes Sweeping Stablecoin Regulation Framework:Sen. Pat Toomey (R-Pa.), the ranking member on the Senate Banking Committee, circulated a discussion draft bill that would create a three-pronged approach for stablecoin regulation. As outlined, the bill would give stablecoin issuers the option of operating under a new license issued by the Office of the Comptroller of the Currency, operating as a traditional bank or operating as a state money transmitter business, with strict disclosure and redemption rules in place. • Can India’s Controversial New Tax Law Be Challenged in Court? Yes, Say Crypto Lawyers:India’s 30% tax on crypto profits took effect on April 1. Several attorneys don’t believe this part of India’s strict crypto tax law can be challenged. The 1% tax deducted at source, however, may be another matter. • New York Senate Authorizes NYDFS to 'Assess' Crypto Companies:The New York Senate has authorized the state Department of Financial Services to develop an “assessment,” or charge for the crypto companies it oversees to help offset some of the costs of this oversight. “The ability for DFS to charge fees is in line with standard practice in the banking and insurance sectors. With increased funding, DFS will have the capacity to hire additional staff with a background and expertise in crypto, allowing DFS to evolve alongside the industry and support New York's position as the center of financial innovation,” the Global Blockchain Business Council told CoinDesk’s Cheyenne Ligon. • (Wired)Wired has a long-form article detailingthe takedownof “Welcome to Video,” a child exploitation ring shut down a few years ago. Crypto was a heavily featured payment tool, one which authorities took advantage of in tracing the transactions. • (Wired)There was a really goodDecrypt articlea few years back about how people linking their actual Ethereum wallets to their Ethereum Name Service identities turned out to be a bit of a privacy boondoggle. Wired has the 2022 edition with a look at how tying an NFT (non-fungible token) to your wallet might also remove any privacy barriers you would expect. • (Nashville Scene)Tennessee has passed legislation creating a regulatory framework for decentralized autonomous organizations (DAOs). • (Bloomberg)Bloomberg reporter Michael McDonald tried using nothing but bitcoin while in El Salvador’s El Zonte for five days, and chronicled his efforts alongside photographer Cristina Baussan. • (BuzzFeed News)Worldcoin sent folks to a handful of developing nations to scan their eyeballs in exchange for a promise for its new cryptocurrency. Some months in, the people who had their eyeballs scanned are wondering where their coins are. • (FastCompany)Bitcoin Miami was last week! I did not go. But here’s a retrospective from someone who did! • (The New York Times)The Times takes a look at state legislatures as crypto becomes an increasingly large concern in some states. If you’ve got thoughts or questions on what I should discuss next week or any other feedback you’d like to share, feel free to email me [email protected] find me on Twitter@nikhileshde. You can also join the group conversation onTelegram. See ya’ll next week! || Why a bipartisan embrace of crypto might never touch Bitcoin: Hey everyone, and welcome back toChain Reaction In ourChain Reaction podcastthis week, Anita and I chatted with Sequoia Capital's Shaun Maguire on why gamers are skeptical of NFTs and where decentralization really matters. More details below. Last week was our inaugural newsletter and we chatted at length about the changes Twitter could make to expand its crypto business. At that point, I -- like many others -- was operating under the assumption that a Musk Twitter deal was ultimately doomed, but low and behold we've got a deal. Everything has been approved at this point, but I can't shake a feeling that something is going to kill this deal in the eleventh hour. If that happens, Twitter's board or Musk will be on the hook for a $1 billion penalty for walking away from the deal, but I suppose we'll see … This week, I'm looking at a controversial Bitcoin mining ban working its way through New York regulators and what bills like it could mean for the political reputation of crypto's #1 coin. To get this message in your inbox on Thursday mornings, you can subscribe onTechCrunch's newsletter page.Follow me on Twitterwhile you're at it! Image Credits:Getty Images Crypto's biggest skeptics see plenty of reasons to criticize the industry, but generally at the heart of most complaints is a belief that crypto is contributing very little to society while burning massive amounts of energy. While crypto's believers could squabble over the former point until they're blue in the face, the latter is a little harder to deny. Bitcoin uses an estimated 204.50 terawatt-hours (TWh) of electricity per year at current rates according to the oft-cited tracker built byDigiconomist, this number is equal to the power consumption of Thailand. Meanwhile Ethereum's energy footprint is half the size but still comparable to the power consumption of Kazakhstan. In 2018 the United States reported its total consumption of electricity as 4,222.5 TWh. For some legislators, those numbers are hard to swallow. This week, the New York State Assemblypassed a billthat had team crypto up in arms. The bill blocks the formation of crypto mining firms in the state that rely on non-renewable power. It notably doesn't apply to existing facilities. A corresponding bill is currently making its way through the Democrat-controlled state senate. This is fascinating for a whole bunch of reasons. For one, crypto is increasingly becoming a partisan topic. Republicans are typically wary of regulating unregulated industries and thus a number of major figures in the party have thrown their full support behind crypto with few concessions. This includes prospective future party leaders like the governors of Texas and Florida. Meanwhile, most of crypto's most ardent critics appear to be Democrats, but that's not to say it's a party-line issue. President Biden's recent cryptocurrency executive order was generally regarded as very friendly to the space by industry insiders. The energy usage seems to be the most salient sticking point for many regulators looking at sweeping bans. How Texas is becoming a bitcoin mining hub The other reason that this is interesting is that this bill really only impacts a handful of major crypto networks, but that includes the two biggest ones -- Bitcoin and Ethereum. These networks use something called a proof-of-work mechanism to secure their networks. The work in this case is mining that involves computers working around the clock to essentially solve math problems that are protecting the integrity of the blockchain, making it extremely expensive and technically challenging for hackers to overwhelm the network to make unauthorized transactions and steal tokens. Crypto seems to be generally trending away from proof-of-work, most notably, Ethereum is deep in the process of transitioning its network toward a less energy-intensive consensus method. But Bitcoin seems unlikely to make its own transition, suggesting that regulatory maneuverings, like New York's bills, are likely going to be increasingly antagonistic toward Bitcoin (and a few smaller networks) specifically. This could lead to an interesting scenario where the crypto industry increasingly finds mainstream tolerance among its current critics but Bitcoin finds itself growing more and more politically isolated. Bitcoin already broadcasts its libertarian bent a bit more prominently than other blockchains. At recent industry events, it's becoming clearer that amid a burgeoning developer ecosystem for blockchains like Ethereum and Solana, the philosophy of the Bitcoin network's infrastructure is increasingly its most harmonizing element. Bitcoin's continuing resistance to criticism and calls for change may only embolden its supporters, but critiques around the power consumption of the network aren't going anywhere and further adoption may only make this a more visible target for aggressive regulation. Some politicians may grow to love crypto but hate Bitcoin all the same. Bitcoin miners say energy efficiency and regulatory certainty are crucial for the industry’s success Hey y’all, it’sAnitahere. Our second episode of the weekly Chain Reaction podcast just dropped, and this week, we’ve been so immersed in the Elon Musk/Twitter news that we thought we’d tackle two other topics first to get our minds off the bird app for a second. I wrote earlier this week about how Fidelity, the largest retirement plan provider in the United States,announced its plans to bring bitcoin to the 401(k) plansit administers for 23,000 companies. It’s a bold move from this tradfi incumbent because it legitimizes crypto as a long-term investment just a month after regulators tried to discourage retirement plan providers from doing exactly this. We kicked off the podcast with some spirited back-and-forth about who will benefit from Fidelity’s move, especially if it takes off as a larger trend. Personally, I think the news is great for non-billionaires — you can read about why inmy latest for TC+ here. We also covered: • Coinbase CEO Brian Armstrong throwing shade at Apple for their App Store policies. • Elon Musk’s bid for Twitter and what it means for web3. We just couldn’t skip this one, especially because of Twitter’s position as a watering hole for the crypto community. Our guest interview this week was with Shaun Maguire, an investor at Sequoia and, of course, a crypto Twitter personality. We chatted with him about Sequoia's recent crypto moves, the possibility of a multichain future, and whether we'll ever reach true decentralization at a mass scale or will end up stuck in "web 2.5" forever. Subscribe to Chain Reaction onApple,Spotifyor your alternative podcast platform of choice to keep up with us every week. FollowChain Reaction on Twitter. —Anita Ramaswamy Where startup money is moving in the crypto world: 1. P2P exchange0xnabs $70 million from Greylock Partners. 2. NFT startupProofgets $10 million from Alexis Ohanian's 776. 3. Crypto TV startupMad Realitiesscores $6 million from Paradigm. 4. African crypto appAfriexnabs $10 million from Sequoia China and Dragonfly Capital. 5. Gaming DAOSnackclubraises $9 million from Animoca. 6. DeFi platformTonicgets $5 million from Electric Capital and Move Capital. 7. Cricket NFT platformRarioraises $120 million from Dream Capital. 8. NFT gameApeironnabs $10 million from Hashed. 9. NFT infrastructure coCXIP Labsgets $6.5 million from Courtside Ventures and Wave Financial. 10. Crypto banking startupCogniscores $23 million from Hanwha Asset Management and CaplinFO. Some more crypto analysis from our TechCrunch+ subscription service: Stablecoins are here to stay, but will they see wider adoption? Stablecoins’ total circulating supply has grown significantly over the past year, but the future of it is unclear. Kraken’s chief legal officer said the subasset is in a “Cambrian moment” as they gather their foothold in the market. But not everyone is a fan of stablecoins as they’re in nascent stages and have the potential to boom, in two very different ways. Artists like Harry Connick Jr. are using web3 to engage with fans Web3 has attracted people from all walks of life, from traditional finance analysts to software developers. But a fairly new group has been entering the space over the last 12 months: artists. While there are financial incentives, some are saying that these creators are deep diving into web3 for more than just a new revenue stream. —Jacquelyn Melinek Thanks for reading! And, again, to get this in your inbox Thursday mornings, you can subscribe onTechCrunch's newsletter page. Have a great weekend, Lucas Matney || 6 Dividend Stocks That Will Maintain Their Payouts in an Economic Downturn: • These dividend stocks will very likely keep their payouts at the same or higher levels, given their history and cash flows. • AT&T(T): The company clearly has the ability to fund its $1.11 dividend payout now that it has spun offWarner Bros Discovery(WBD). The stock yields 5.7%. • Exxon Mobil(XOM): This company refused to cut its dividend during the Covid crisis. • Clorox(CLX): People will still use cleaning products during a recession. The company has a robust history of increasing its dividend over the last 20 years. • The Proctor and Gamble Co.(PG): This company has had 66 years of annual consecutive dividend increases, including arecent increase to 91.33 cents. • Hormel Foods(HRL): This company has consistently raised its dividend over the last 50 years. In the last 20 years, its average annual dividend increase has been 13%. • Kroger(KR): Kroger has been paying higher dividends over the last 17 years. People will still go to retail stores, even during a recession. Source: Shutterstock It’s important to know that investing in dividend stocks is about consistency and the ability to pay even in the direst of economic circumstances. After all, this is the chief advantage that dividend stocks have over bonds. Bond coupons are not raised. If inflation rises, they cannot adapt, as dividends can. This is why it is almost always better to stick with dividend-paying stocks with a long history of increases. Click to Enlarge Source: Mark R. Hake, CFA Here is a simple example of how this works. The average dividend yield of each of these six stocks is about 3% (3.03%). Let’s assume that their average dividend growth is 8% each year for the next 10 years. If we compare that with a bond with a higher coupon, say 3.5%, the results are very interesting. Over the 10 years, an investor who puts $1,000 in these dividend-paying stocks will receive a total of $438.46 in dividend payments. But the investor with $1,000 in a 4% coupon bond will receive just $400 in payments over that 10-year period. That means that even though the initial yield of 3.03% from dividend stocks is lower than the 4.0% coupon bond, the stock investors collect more income over the next 10 years from dividend growth. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Click to Enlarge Source: Mark R. Hake, CFA This can be seen in the chart on the right, which shows that by year eight, the cumulative dividend payments have overtaken the cumulative bond payments. One way to ensure this is to look at the company’s payout ratio. This compares the cost of dividends to the earnings of the company. As long as the dividend per share stays below the earnings per share level, you can be reasonably assured the company’s board won’t balk at raising the dividend. Another important factor is how long the company has been raising its dividend. • 7 A-Rated Dividend Stocks to Buy Forever We will look at both of these factors in the following six dividend stocks. [{"T": "XOM", "AT&T": "Exxon Mobil", "$18.86": "$85.25"}, {"T": "CLX", "AT&T": "Clorox", "$18.86": "$143.47"}, {"T": "PG", "AT&T": "Proctor and Gamble", "$18.86": "$160.55"}, {"T": "HRL", "AT&T": "Hormel Foods", "$18.86": "$52.39"}, {"T": "KR", "AT&T": "Kroger", "$18.86": "$53.96"}] Source: Lester Balajadia / Shutterstock.com Market Cap:$135 billionDividend Yield:5.7% AT&T(NYSE:T) recently spun off its WarnerMedia division to its shareholders and then immediately merged it with Discovery Inc. The new company is calledWarner Bros. Discovery(NASDAQ:WBD). In the process, AT&T lowered its $2.08 dividend per share to $1.11. At today’s price, that gives it a 5.7% dividend yield, but its payment is now more secure. That is because the company has said that this will be about 40% or so of its free cash flow (FCF). As FCF grows from the now-more-focused telecom operations of AT&T, it can increase the dividend. In fact, AT&T says that it is in themid-90th percentileof high-dividend-yield payers, even with this lower dividend payment. Moreover, as a result of the WBD transaction, AT&T received $43 billion, which it’s 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. For example, for 2023, 21 analysts surveyed by Refinitv forecast its earnings per share (EPS) at$2.55. That means that the $1.11 dividend per share (DPS) is only 43.5% of its EPS. With this high yield and low payout ratio, T stock looks like one of the best dividend stocks. Source: Ken Wolter / Shutterstock.com Market Cap:$361 billionDividend Yield:4.1% Exxon Mobil(NYSE:XOM) pays out a dividend of $3.52 annually, giving it a 4.1% dividend yield. Moreover, analysts expect that this year its EPS will reach $9.07 this year and (assuming lower oil prices)$7.65next year. This implies that its payout ratio is still very comfortable at 46% even on the lower 2023 forecasts. One of the main reasons that you can expect that Exxon won’t cut its dividend is that it refused to do so during the height of the pandemic. I wrote about this in a separateInvestorPlacearticle a year ago, arguing that as a result, it was a good bargain. Exxon could afford to do this because it was not buying back shares at the time. Now that its cash flow is much stronger, Exxon has reinstituted its share buyback program. It can afford to do so now that it is cutting out $9 billion in extra costs, as shown in its recentInvestor Daypresentation. • 7 Biggest Loser Stocks That Could Become Surprising Buys That helps companies to raise their dividends for the same cost to their finances. This makes their payout stronger. XOM looks like one of the better dividend stocks as a result. Source: Roman Tiraspolsky / Shutterstock.com Market Cap:$17.7 billionDividend Yield:3.1% Clorox(NYSE:CLX) produces around 360 brand names in the cleaning space. Consumers love its products, and the company was especially popular during the Covid-19 crisis. Now that the pandemic has abated, its earnings are falling this year, but are expected to rise again next year. This year EPS should hit $4.18 per share, which is below its DPS of $4.64. However, by next year, it will be above the DPS at $5.63, according to analysts. In the last five years, Clorox has grown its dividend by over 7.7%, and in the last 10 years, it has averaged annual growth of 6.8%, according toSeeking Alpha. This should be a comfort to investors, showing that the company intends to grow its dividend over the near and long term. Source: Jonathan Weiss / Shutterstock Market Cap:$385 billionDividend Yield:2.2% The Proctor and Gamble Company(NYSE:PG) is a consumer goods company with an array of popular brands and 66 years of annual dividend increases — including arecent increase to 91.33 cents as of April 12. That puts its annual dividend at around $3.65 per share, well below analyst EPS forecasts of$5.84 this year and $6.25next year. Moreover, over the last 10 years, Proctor and Gamble Company has had an average compounddividend growth rate of 5.13%each year according toSeeking Alpha. That is a very consistent growth rate and implies that investors can expect that in 10 years, the dividend will be 64.9% higher than when it started. The simple fact is that Proctor and Gamble Company has many consumer brands that people love and will continue to buy, even during a recession. • 7 Dividend Stocks Paying Over 5% to Buy Now It operates in five segments: beauty; grooming; health care; fabric & home care; and baby, feminine & family care. This is what powers its strong growth and makes PG stock one of the best dividend stocks going forward. Source: viewimage / Shutterstock Market Cap:$29 billionDividend Yield:1.9% Hormel Foods Corp(NYSE:HRL) produces grocery and refrigerated products and has iconic brands such as Planters, Skippy, SPAM, Natural Choice, Hormel, Black Label, and over 30 others. The company has consistently raised its dividend for over 20 years. For example, last year it paid out 98 cents in dividends per share. This year it is on track to pay $1.04 in DPS, or 6.1% more.Seeking Alphacalculates that Hormel has grown its dividend by9.9% in the past five yearson average. The point is that the dividend is rising each year along with the company’s earnings. Analysts forecast that Hormel will produce$1.93 in EPS this yearand over $2.10 next year. That is well over the $1.04 per share in dividends, putting its payout ratio at 54%. This makes HRL stock one of the best dividend stocks to hold if a recession happens. Source: Jonathan Weiss / Shutterstock.com Market Cap:$39 billionDividend Yield:1.5% Kroger(NYSE:KR) is one of the top grocery and drug store retailers in the U.S., with over 2,726 supermarkets in the U.S. Its annual 84 cents per share dividend is well below the company’s forecast EPSof $3.81 this yearand $3.97 next year. Moreover, over the past five years, Kroger has grown its DPS by11.74% on averageeach year, according toSeeking Alpha. In fact, in the last four quarters, it has paid out 21 cents per quarter, which was 16.7% higher than the average of 18 cents paid per quarter prior to this. • 7 Bear Market Stocks to Buy if You're Feeling Fearful In fact, Kroger is due to make an announcement before the end of June about its next quarterly dividend hike. This could make KR stock one of the more interesting dividend stocks — especially if its dividend rises substantially. On the date of publication, Mark R. Hake 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 theInvestorPlace.comPublishing Guidelines. • 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 post6 Dividend Stocks That Will Maintain Their Payouts in an Economic Downturnappeared first onInvestorPlace. || Ethereum Merge No Longer Expected in June: Don't miss CoinDesk'sConsensus 2022, the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12. After a few weeks of speculation, Ethereum core developer Tim Beiko confirmed in a tweet Tuesday that the long-awaited Ethereum Merge will come later than expected. Instead of June, Beiko said that the network's transition toproof-of-stakeis more likely to come “in the few months after.” Beiko insisted that Ethereum was “in the final chapter of PoW,” but this is yet another in a long string of delays for a project which was slated for completion as far backas 2019. The update comes after Ethereum passed a major milestone on Monday with the firstshadow forkof the Ethereum mainnet – amounting to a dry run of the network’s upcoming shift in consensus mechanisms. However, according to atweetlast weekend from Ethereum DevOps engineer Parathi Jayanathi, three recent shadow forks of Ethereum's Goerli testnet revealed bugs that still need to be worked out before the update will be ready. Read more:Ethereum’s ‘Difficulty Bomb’ Timing Hints at an Early Summer Merge The Merge signifies Ethereum’s shift to a proof-of-stake (PoS) mechanism for securing itself. Today, the network relies on a resource-intensive proof-of-work (PoW) system similar to that of Bitcoin, whereby a decentralized network of computers competes to validate transactions. Ethereum’s move to PoS, where users reserve the ability to secure the network by “staking” ether, is expected to cut the network's energy costs by 99% and make it easier for Ethereum to scale. Building out a new consensus mechanism for Ethereum, though, comes with significant complexity. In addition to introducing a host of engineering challenges, Ethereum’s PoS model will add a new set ofgame theory mechanicsto ensure network validators act in good faith. With billions of dollars on the line, a misstep would be catastrophic for the whole ecosystem. Even after the Merge, Ethereum's highgas feesand relatively slow speeds – which have made the network unusable for many applications – are likely to remain. Ethereum is at the center of decentralized finance (DeFi), GameFi, and NFTs, but a large number of newer PoS chains are nipping at Ethereum’s heels by offering users faster and cheaper transactions. The Merge has supplanted Ethereum’s original plans for “Ethereum 2.0,” which included the addition ofshardingto improve network throughput by chopping up activity into pieces that can be processed simultaneously. Sharding is still on the Ethereum roadmap, but it was pushed back to 2023 in order to expedite the shift to PoS. With this in mind, much attention within the Ethereum developer community has shifted tolayer 2 rollupslike Arbitrum, Optimism and Loopring, which have amassed billions of dollars in total value locked onto their third-party solutions for scaling the Ethereum network. Even after the Merge, a growing portion of network activity is expected to move over to these layer 2 networks, which process transactions on separate blockchains before bundling them up and passing them back down to the Ethereum base layer. While Layer 2 solutions each have unique advantages and disadvantages relative to Ethereum, they tend to be much faster and cheaper than the base layer while still containing essential security guarantees. Ethereum's native token,ether(ETH) is the second-largest cryptocurrency. At press time, it had a $365 billion market cap and was trading at $3,100, down from around $3,500 earlier this month. || SEC Approves Teucrium's 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. The U.S. Securities and Exchange Commission has allowed NYSE Arca and Teucrium to issue a bitcoin futures exchange-traded fund. The SECannounced the approvalWednesday in a filing on its website, adding Teucrium to a host of other bitcoin futures ETF issuers. Notably, Teucrium and NYSE Arca filed the application under the Securities Exchange Act of 1934, filing a 19b-4 form with the SEC. The already-approved bitcoin futures ETFs filed by other companies were under the Investment Company Act of 1940, which follows a slightly different regulatory pathway to approval. An approval under the Securities Act of 1933, under which Teucrium's filing falls, may potentially open the door for a spot bitcoin ETF, Bloomberg analyst James Seyffart saidon Twitter earlier this year. Proponents of crypto ETFs have argued that "like situations must be treated alike," he said, citing an argument from crypto company Grayscale, which filed to convert its Grayscale Bitcoin Fund (GBTC) to an ETF. (Grayscale is a subsidiary of CoinDesk parent company Digital Currency Group). The SEC has, to date, disapproved all spot bitcoin ETF applications, citing concerns about market manipulation and a lack of asurveillance-sharing agreementbetween an ETF issuer and a sizable market that trades the underlying asset. That has not stopped various companies from trying to bring a bitcoin ETF to market. ProShares, Valkyrie and VanEck are among those approved to list and trade bitcoin futures ETFs in the U.S. so far. Valkyrie has also filed to launch a 33 Act bitcoin futures ETF. Its application is outstanding. || FOREX-Euro hovers near two-year low vs dollar as ECB disappoints markets: * Euro falls to one-month low against sterling * Dollar index hits two-year high on retail sales data * ECB confirms plans to cut bond purchases in third quarter (Updates prices) By Hannah Lang April 14 (Reuters) - The euro plunged to a two-year low against the U.S. dollar on Thursday as comments from European Central Bank President Christine Lagarde were viewed as a sign that the ECB was in no rush to raise interest rates, in contrast with an aggressive monetary policy tightening effort by the U.S. Federal Reserve. The European single currency fell to $1.0758, the lowest level since April 2020. It was last down 0.53% at $1.0827. Lagarde said there was no clear timeframe for when rates would start to rise, adding that it could be weeks or even several months after the end of the ECB's stimulus scheme. "We'll deal with interest rates when we get there," she added. The ECB on Thursday concluded its latest meeting with cautious steps to unwind support and avoided a hard schedule. It confirmed plans to cut bond purchases, commonly known as quantitative easing, this quarter, then end them at some point in the third quarter. Against sterling, the euro slid to a one-month low and was last down 0.28% at 82.79 pence. Lagarde's comments were in stark contrast to those of Fed Chair Jerome Powell, said Joseph Trevisani, senior analyst at FXStreet.com. “They could have taken a book from what Jerome Powell has done, and that is to be aggressive rhetorically. Ms. Lagarde did not seem disposed to do that. She was more concerned apparently, and maybe understandably, about the Ukraine war and its impact on Europe," he said. In addition to pushing up gasoline prices, the Russia-Ukraine war, now in its second month, has led to a global surge in food prices as Russia and Ukraine are major exporters of commodities including wheat and sunflower oil. "Frankly, given how uncertain conditions are at the moment, Lagarde's caution can be justified, but it is fair to say that markets were expecting a bit more sprinkle after the eventful March meeting," said Ima Sammani, FX market analyst at Monex Europe. In late afternoon trading, the dollar index, which measures the greenback against six peers, rose 0.544% to 100.33 after earlier hitting 100.76, the highest level since April 2020. The dollar extended gains after data showed U.S. retail sales increased in March, mostly boosted by higher gasoline and food prices. The battered yen saw some respite, making a small recovery from a 20-year low hit against the dollar. In afternoon trading, it weakened 0.25% versus the greenback at 125.94 per dollar. More than three-quarters of Japanese firms say the yen has declined to the point of being detrimental to their business, a Reuters poll found. Other central banks tightened monetary policy, reinforcing expectations of higher interest rates globally. The Bank of Korea surprised markets with a rate hike, while the Monetary Authority of Singapore also tightened policy, sending the Singapore dollar to its highest level since February. On Wednesday, the Bank of Canada and the Reserve Bank of New Zealand both raised rates by 50 basis points, the largest hike for each in around 20 years. Bitcoin last fell 3.53% to $39,784.82. ======================================================== Currency bid prices at 3:44PM (1944 GMT) Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid Previous Change Session Dollar index 100.3200 99.7870 +0.54% 4.868% +100.7600 +99.5670 Euro/Dollar $1.0827 $1.0893 -0.62% -4.78% +$1.0924 +$1.0758 Dollar/Yen 125.9500 125.6600 +0.25% +9.43% +126.0100 +125.0950 Euro/Yen 136.35 136.83 -0.35% +4.63% +136.9300 +135.5300 Dollar/Swiss 0.9426 0.9347 +0.86% +3.34% +0.9433 +0.9324 Sterling/Dollar $1.3076 $1.3117 -0.29% -3.29% +$1.3147 +$1.3034 Dollar/Canadian 1.2616 1.2564 +0.42% -0.21% +1.2641 +1.2522 Aussie/Dollar $0.7417 $0.7453 -0.47% +2.05% +$0.7468 +$0.7397 Euro/Swiss 1.0205 1.0180 +0.25% -1.58% +1.0213 +1.0140 Euro/Sterling 0.8278 0.8302 -0.29% -1.45% +0.8314 +0.8251 NZ $0.6789 $0.6798 -0.09% -0.77% +$0.6834 +$0.6768 Dollar/Dollar Dollar/Norway 8.7750 8.7565 +0.74% +0.14% +8.8330 +8.7380 Euro/Norway 9.5032 9.5206 -0.18% -5.09% +9.5624 +9.4912 Dollar/Sweden 9.5185 9.4714 -0.12% +5.55% +9.5755 +9.4191 Euro/Sweden 10.3045 10.3173 -0.12% +0.69% +10.3266 +10.2789 (Reporting by Hannah Lang; additional reporting by Joice Alves; Editing by Nick Macfie, Chizu Nomiyama, Jan Harvey and Leslie Adler) [Random Sample of Social Media Buzz (last 60 days)] None available.
Trend: down || Prices: 31792.31, 29799.08, 30467.49, 29704.39, 29832.91, 29906.66, 31370.67, 31155.48, 30214.36, 30112.00
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 for 2017-09-11] BTC Price: 4161.27, BTC RSI: 48.19 Gold Price: 1331.00, Gold RSI: 65.36 Oil Price: 48.07, Oil RSI: 51.55 [Random Sample of News (last 60 days)] Bitcoin cash is already the 3rd largest cryptocurrency: Football Soccer- UEFA Champions League Final - Real Madrid team celebrates at their stadium after winning title- Santiago Bernabeu Stadium, Madrid, Spain - 4/6/17 Real Madrid's Sergio Ramos holds up the Champions League trophy during a victory ceremony. REUTERS/Susana Vera (Bitcoin cash has cemented its position as a top player in cryptocurrency spaceThomson Reuters) Bitcoin cash has already secured its place as a top cryptocurrency, just a day after it entered the marketplace. According to Coinmarketcap.com , the cryptocurrency is trading at about $490 per coin and its marketcap now stands above $8 billion. As such, it is the third largest cryptocurrency by marketcap, surpassing big name coins such as Ripple ($6.7 billion) and Litecoin ($2.2 billion). Bitcoin cash came to fruition Tuesday after it split from the original network that powers its crypto-cousin, bitcoin. To recap, the split was preceded by a years-long war between power brokers in the bitcoin space over the rules that guide the digital currency's network . Supporters of the newly formed bitcoin cash believe the currency will " breath new life into " the nearly 10-year-old bitcoin by addressing some of the issues facing bitcoin of late, such as slow transaction speeds. And it looks like investors are singing the same tune. Bitcoin cash is up about 80% since its inception. That's a higher appreciation than any of the other top 10 cryptocurrencies. Because bitcoin cash will initially draw its value from bitcoin's market cap, according to Charles Morris, the chief investment officer of NextBlock Global, an investment firm with digital assets, it will most likely cause bitcoin's value to drop by an amount proportional to its adoption. Bitcoin is currently down 3.7% at $2,690. NOW WATCH: Tesla’s Model 3 is coming on Friday and it’s going to be the ‘largest consumer-product launch ever’ More From Business Insider New framework unveiled in China for Bitcoin, blockchain technology The SEC just dealt a big blow to the hottest trend in cryptocurrencies — but Asia is cheering Billionaire investor Howard Marks says cryptocurrencies 'aren't real' || A German bike company could turn the entire industry on its head: No industry has been entirely immune from the disruption brought on by online shopping. But so far, the high-end bicycle business has mostly remained in brick-and-mortar bike shops. This week, however, an anticipated direct-to-consumer bike brand from Germany called Canyon comes to the U.S., a move that may have a marked effect on the industry. The main players in the bike world are Specialized, Trek, Cannondale, and Giant. And the way those companies and most others offer bicycles has been the same for years: through a bike shop. Founded in Germany in 2002,Canyonhas never followed this model, instead offering its bikes directly through the internet. Though bizarre to many back then, Canyon’s alternative business model hasn’t interfered with its success or street cred. Currently its bikes are under the riders of two major professional cycling teams — Movistar and Katusha Alpecin — and Canyons have become some of themost desired bikesaround. Offering prices around 25% less for comparable bikes from high-end competitors, Canyon operates with a powerful formula that threatens to disrupt the industry. Wheeled-sports — largely cycling — in the U.S. is a $97 billion industry in terms of sales, according to a Outdoor Industry Associationreport out this year. While some companies like Giant (9921.TW) and Cannondale are public — Cannondale is owned by Dorel (DII.B) — many, like Canyon, Specialized and Trek, are privately held. According to Blythe Jack, a managing director at TSG Consumer Partners, a significant minority shareholder in Canyon that is helping with its U.S. logistics, the direct-to-consumer business model makes more sense even without the modern shift online. “When you think about the retail model today, independent bike dealers are limited for space for offering whole lines [of bikes],” said Jack. “It’s not feasible for a small floor plan as well as capital intensity required to floor plan a large inventory. It’s the biggest bottleneck of the retail experience.” The benefit of being online, Jack says, is being at the crossroads between multiple factors that surround big-ticket items. Social media, research, reviews, specs, and product photography are all part of a buying experience. It makes sense for the purchasing to happen there as well, especially since all sizes, models, and colors can be accommodated. Canyon USA president Blair Clark told Yahoo Finance that this is the “final frontier” for the industry. “You don’t have to look back very far in history to see this is not the first time the bike industry has been revolutionized or disrupted in terms of distribution,” said Clark. “Schwinn in the 1960s decided to announce they were no longer going to sell to distributors, [instead pivoting] to sell to dealers.” In his view, it’s time for the next step in retail innovation in the industry. “The consumer is driving this change across all industries, whether it’s razors or buying your coffee, or now Amazon purchasing Whole foods, or Zappos and shoes,” he said.“So we are, I think, hitting the market in terms of timing that’s very ideal from the standpoint that a consumer is ready to purchase a bike online.” The challenges of bicycle buying sight unseen are myriad. Fitting is guessing, test drives are imaginary, and some assembly is required. Canyon’s 15 years in the industry has, however, ironed out these issues almost completely to the point where returns are in the single digits. “The bikes are so advanced in terms of performance relative to quality controls — we really don’t have a returns issue to speak of,” said Jack. “That tends to be a major stumbling block for many companies, the prohibitive costs of returns.” Fitting is taken care of via online fitting tools that take much of the guesswork out of choosing a frame size, and building is straightforward with tools included and video demos available. “For somebody that’s reasonably mechanically inclined, [building is] a 30- to 45-minute job,” said Clark. Test drives, however, will always be imaginary. As far as delivery goes, the company established a distribution center in Chino, California with 30 employees and counting, so it doesn’t have to ship bikes from Germany or directly from manufacturing facilities in Taiwan. Not surprisingly Canyon’s combination of street-cred, logistic mastery, and lower prices has other industry players nervous, especially bike shops that fear being cut out of the loop. For accessories and parts, this has already happened as today’s era of two-day Amazon Prime offers undercutting prices and door-to-door convenience. Canyon’s Clark told Yahoo Finance that the company is hoping to establish market share in the “teens” within a “few years,” though noted it’s hard to predict something that hasn’t been done before. The bike industry’s delay in adapting to a direct-to-consumer model for bikes themselves can be explained by the current framework of distribution. Companies already established in the U.S. may not want to risk relationships with bike shops by offering their own direct-to-consumer options, despite the fact that buying online from the manufacturer is becoming standard across most industries. “[The direct business model] is a healthy thing and it’s an inevitable thing that frankly has been postponed. Trek and Specialized have held industry back,” said Jack. “The world around us has changed — it’s what consumers want. We think this will deliver sustainability that will serve the industry well over time.” In calls with Yahoo Finance, both Jack and Clark took great pains to make it explicitly clear that the company has no desire to supplant bike shops, which they maintain are incredibly important to Canyon’s success as “service partners.” But instead of dealing with inventory requirements, which can lead to money-losing discounts when bikes don’t sell, they want to see a shift to service, fitting, assembly, and tuning, which they view as more sustainable. “We can make the industry more healthy,” Jack said. She may be right: Germany still has bike shops. Ethan Wolff-Mannis a writer at Yahoo Finance focusing on consumer issues, tech, and personal finance. Follow him on Twitter@ewolffmann. Got a tip? Send it [email protected]. Read More: What Bitcoin needs to do to become real currency Trump weighs slashing one of the most popular tax deductions Big banks are going after Venmo and Venmo is winning 73% of Android users are less likely to switch to iPhone due to headphone jack ‘Market FOMO’ has millennials putting cash into the stock market Sometimes fake holidays like ‘National Ice Cream Day’ actually work A robot lawyer can fight your parking tickets and much more Consumer watchdog is making it easier for consumers to sue banks How ringless spam voicemails became a partisan issue || Bitcoin and Ethereum Price Forecast – Prices Move Higher, Looking to Breakout: Thebitcoinprices have started moving higher again and it seems to be only a matter of time before the all time highs generated earlier would be challenged and it would be interesting to see how the prices move once they hit that region. As we have been saying all along, with the number of bitcoins being restricted, the trend is likely to be up as long as bitcoins continue to be used for transactions and as long as the bitcoin network is able to sustain itself through the various ups and downs that it is likely to see. Get Into Bitcoin Trading Today It is this part that is likely to be challenged when thebitcoinnetwork undergoes a hard fork and the outcome of this fork would again be watched very closely on how the network would be dealing with it. This fork is likely to be more difficult than the first one in August as the network is split into two and both the sides are at loggerheads with each other on the approach to the fork. But these forks are an important aspect for the network and the technology to grow and hence cannot be avoided. Ethereum prices also followed the bitcoin prices and have since moved through the $330 region and looking ahead to the next target at $340. The ETH network is also scheduled to undergo a fork in September and if it manages to get through the fork without much impact, we could see a string bullish leg in ETH in the short and medium like what we are seeing in bitcoin. Looking ahead to the rest of the day, we expect both the bitcoin and ETH prices to challenge the range highs at around $4400 and $340 respectively and if the prices do manage to break through, then we are likely to see the next bullish leg in both the pairs over the weekend. The Best and Safest Way to Buy and Sell Bitcoins Virtual currency is becoming more popular by the minute. It’s starting to seem that everyone wants in, yet it isn’t always so easy to get cryptocurrencies.Coinmamaallows you to purchase Bitcoin through credit card or cash in sizes that will suit your needs!Click Here for More Info Thisarticlewas originally posted on FX Empire • Jackson Hole to Drive the EUR and the Dollar • DAX Index Daily Fundamental Forecast – August 25, 2017 • Natural Gas Price Fundamental Daily Forecast – Hurricane Infrastructure Damage Could Spike Prices Higher • Oil Price Fundamental Daily Forecast – Gasoline Prices Soar on Crack-Spread Buying • Commodity Markets In Still Mode Ahead of Jackson Hole • AUD/USD and NZD/USD Fundamental Daily Forecast – Focus on Durable Goods Early, Yellen, Draghi Later || Does Bitcoin Actually Hold Any Value At All?: The NYSE Bitcoin Index is up another 189 percent so far in 2017, as bitcoin continues to rise in popularity among traders. Some bitcoin investors see the cryptocurrency as a safe haven against inflation and pricey stocks and bonds. Others see it simply as a short-term momentum trade. But does bitcoin actually have any intrinsic value at all? The short answer is no. Bitcoin's Value Problem But that doesn’t necessarily mean bitcoin is a bad investment. Gold also has no intrinsic value. Gold cannot be eaten. It has minimal usefulness as a building material or weapon. Gold is only valuable because humans have treated it as such for centuries. Like gold, bitcoin’s price fluctuations are dictated by supply and demand. Unlike centralized global currencies, such as the U.S. dollar, bitcoin’s supply is fixed and capped, leaving demand as the sole variable in the equation. But even that one variable is extremely unpredictable. Bitcoin bulls often point to the fact that the cryptocurrency is free from central bank manipulation as a positive for the currency. However, central banks often step in to support centralized currencies in times of weakness. Without anything to support the value of bitcoin other than market demand, the cryptocurrency is completely at the mercy of the whims of the market. Alan Greenspan, former chairman of the U.S. Federal Reserve, recently said bitcoin’s lack of intrinsic value or backing from a centralized agency makes it difficult to understand as an investment. “You have to really stretch your imagination to infer what the intrinsic value of bitcoin is,” Greenspan said . “I haven’t been able to do it." Business Insider CEO Henry Blodget agrees. “There is no intrinsic value,” Blodget recently said. “If anybody is persuading you that it should somehow be related to some GDP or gold ... put down the Kool-Aid and back away.” Even Warren Buffett, one of the most successful and iconic investors of all time, has warned investors about bitcoin. Story continues “Stay away from it. It’s a mirage, basically,” Buffett said of bitcoin. Placing A Price On Utility Others see bitcoin’s true value in its utility. Bitcoin’s “programmable” nature, blockchain technology, cryptography and pseudo-anonymity are all qualities that no centralized currency can offer. Reggie Middleton, founder of Veritaseum, has said the true value of bitcoin is in the usefulness of its platform rather than the currency itself. Related Link: Battle Of The Cryptos: Bitcoin Vs. Ethereum “The biggest threat to Visa et al is not the digital currency application, because money remittance through this is going to be very low-margin, close to zero margin and then negative margin soon,” Middleton said . “As they gain in popularity, you’ll see the functionality easily surpass the Visas and the physical cash and coin parameters.” Middleton believes the bitcoin blockchain could eventually make the traditional centralized currency model obsolete. The B Word But just because bitcoin may or may not hold long-term utility value doesn’t mean investors are safe buying bitcoin at its current price. Aberdeen Asset Management venture capitalist Peter Denious is one of many experts who believe bitcoin is currently displaying all the textbook signs of a market bubble. “A lot of lessons will be learned and a lot of money will be lost before a lot of money can be made,” Denious said in June. “It’s a gold-rush mentality.” Billionaire Marc Cuban also recently weighed in on bitcoin on Twitter . “When everyone is bragging about how easy they are making $=bubble,” he wrote. Takeaway Bitcoin and rival cryptocurrency Ethereum are difficult to compare to traditional centralized currencies, which is both a good and bad thing for cryptocurrency bulls. On one hand, there is no intrinsic value in a bitcoin, which doesn’t even exist in the physical world. Bitcoin’s value isn’t backed by a powerful central government, and it's only worth what a buyer is willing to pay for it. However, bitcoin’s utility as a technology may carry its true value over time if the blockchain model becomes the new standard for value exchange around the world. But regardless of whether bitcoin holds long-term value, the price surge in the bitcoin market has all the tell-tale signs of a bubble. After all, the amount of bitcoin used to order two Papa Johns Int’l, Inc. (NASDAQ: PZZA ) pizzas back in 2010 is now worth well more than $20 million. Perhaps Cuban put it best: “#crypto is like gold. More religion than asset. Except of course, gold makes nice jewelry.” See more from Benzinga What Does AMD's Weak Price Action After Its Earnings Beat Mean? Bond Bubble About To Burst? Amazon Can't Put All Grocery Stores Out Of Business © 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 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%. Bitcoin’s 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 don’t 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," Blockchain’s Alsyon Margaret said on Sunday. The ‘hard fork’ came after a long-term debate on how best to solve bitcoin’s 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 bitcoin’s 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. || The big business revolution: why the future is blockchain: The value of onebitcoinrecently hit a record high of US$3,025, a staggering rise of over 200% in value this year alone. Aswath Damodaran, professor of finance at the New York University, known as Wall Street’s “dean of valuation”, has said that among the younger generation, digital currencies havereplaced goldas a choice of investment and that, sooner or later, currencies such as bitcoin andethereumwill compete against nation-state paper currencies. So could bitcoin become a popular currency and decrease the popularity of euros, dollars, pounds, roubles and others? For anything to be seen as “money” it needs to meet three functions – astore of value, ameasure of valueand amedium of exchange. Bitcoin’svolatilityshows that it is an infant in meeting these three criteria, but has the potential to do so. However, digital currencies like bitcoin are just one application of the blockchain technology that makes them possible. Blockchain, as the BBCexplains, is: a method of recording data – a digital ledger of transactions, agreements, contracts – anything that needs to be independently recorded and verified as having happened. The big difference is that this ledger isn’t stored in one place, it’s distributed across several, hundreds or even thousands of computers around the world. And everyone in the network can have access to an up-to-date version of the ledger, so it’s very transparent. Blockchain combines the security ofcryptography, the storage and transmission of data in coded form, withpeer-to-peer networksto create a shared database of transactions that is trusted, yet controlled by no one. If blockchain finds uses in various industries we could see a more digitally integrated global economy, something that could enhance economic growth and decrease poverty. In business today, we still require trusted administrators to manage and record the numbers and databases – auditors, supervisory boards and so on. The potential of blockchain is that it offers the chance to “distribute” these digital ledgers to others through a network of computers across the world. It could actuallydispensewith those businesses that are based on trusted relationships – such as banking, auditing, solicitors, even aspects of government. For example in Sweden, Georgia and Ukraineproperty registersare being moved on to the blockchain. In finance, people rarely lend directly to each other, hence the need for banks as trusted go-betweens. The beauty ofcryptocurrenciessuch as bitcoin or ethereum is that they remove the need for the trusted third party, using instead an encrypted, secure database. This has huge implications for any business that requires the verification of payments and performance of contracts – that is, most businesses. The beauty of blockchain is that something can be unique and stored digitally with ease, without needing an equivalent in the real world. For example, things like contracts, wills, deeds and share certificates might only require a piece of code stored on the blockchain that represents the exchange. Instead of a trusted intermediary verifying transactions, the computers of the shared network of bitcoin users themselves perform the verification at no cost to those involved in the transaction. This verification process holds the seeds of change across huge numbers of industries. The distributed ledger – the blockchain – offers the chance to enhance truth and trust in every system to which it is applied. It can prove who owns what at any given moment. Anything that currently exists to verify contracts, ownership, payments and even performance can beshifted to the blockchain. This would transfer power away from those who currently manage or verify transactions – a seismic change to the way the world currently operates. As with any power shift, those holding power are reluctant to surrender it. The “winners” in this scenario will come from existing companies rather than start-ups, given that for this new system to work, it requires buy-in and trust – existing brands already have this advantage. So what are blockchain’s main advantages? By performing the functions of record keepers and managers it wouldenhance decentralisation, reduce the amount of intermediaries involved and provide an alternative to how value can be stored. Physical as well as digital assets could be uniquely verified online to prove ownership. As transactions stored on the blockchain could be independently verified and traced, it would be easier to fight crime, counterfeiting and fraud, reducing systemic risk in the financial system. A distributed digital ledger would make it near impossible to change or falsify data, because data would have to be altered across all the related “blocks” in the digital chain, so any tampering would be exposed. Consequently associated costs would fall, enhancing economic growth and prosperity. A dramatic disruption is happening already in the financial industry: the world’s largest custodian bank, BNY Mellon, is using a blockchain based platform forgovernment bond settlement. And one of the Bank of England’sresearch focus areasis based around financial technology or “fintech” and how it affects the way markets and society function. Another benefit would be to makemicropaymentspossible digitally. A country such as India, where huge number of people still do not have access to banking, could experience profound economic change if brought within their reach, helping them save, borrow and plan for their future. The online marketing and advertising industry has feasted on data generated by internet users, and social media platforms such as Facebook – with more than two billion users – Google and Amazon collect considerable amounts of individualised data on us to target adverts at us. Blockchain could enhance our online privacy, by allowing us to store our digital footprint on our own unique blockchain and control who has access to it. Rather than these massive organisations building up records of our tastes and preferences, this data would be decentralised and within our own control. Blockchain could enhance entrepreneurship in developed and developing countries, breaking down barriers built from embedded bureaucracy and corruption by providing a means to bypass existing power structures. For example, the digital ledgerEverledgeris tracking a real-life object – diamonds – to prove their provenance and ownership. As a result, trust in the system is enhanced. When the internet came into being, it was a disruptive, game-changing force for many industries – blockchain technology holds the same potential. In moving trust from the current “verifiers” to a distributed blockchain system, the world could see a massive shift in power to the masses – a truly revolutionary idea. This article was originally published onThe Conversation. Read theoriginal article. The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond the academic appointment above. || $30M in Bitcoin Ordered Returned in Cryptocurrency Class Action: A federal judge has ordered the return of 11,000 bitcoins worth about $30 million in a decision considered the first of its kind. The ruling by U.S. District Judge Kenneth Marra of the U.S. District Court for the Southern District of Florida stems from a class action in which plaintiffs alleged that the defendant had stolen their money and fled to China. In today's cryptocurrency world, however, the legal victory might only be worth the paper it's printed on. "I'm unaware of any other federal court, in a federal court order, transferring the ownership of a bitcoin from one person to another," said David Silver, one of the lawyers for the plaintiff class in Leidel v. Project Investors Inc. Marra issued a default judgment against Paul Vernon, former CEO of Project Investors Inc., which did business as Cryptsy, an exchange for bitcoin and other cryptocurrencies. The court ruled that Vernon is liable to the class plaintiffs for $8.2 million, plus pre- and post-judgment interest. The court declared that just over 11,325 bitcoins each worth more than $2,700 in today's market were stolen from Cryptsy customers in July 2014. Vernon never answered the lawsuit and doesn't have a lawyer. Silver said the judgment highlights a fatal flaw in using cryptocurrencies. He explained that the decentralized nature of bitcoin, with no person or authority in charge, makes it nearly impossible for the winning plaintiffs to get their stolen bitcoin back. The judgment listed the alphanumeric public keys of 12 cryptocurrency wallets that are storing the stolen bitcoin. But the plaintiffs also need "private keys" to transfer the bitcoin out of those wallets. Normally, a winning plaintiff with a court order could go to a financial institution for the return of funds or call upon law enforcement for the return of tangible property. There's no such central authority in charge of bitcoin who can force the transfer of the stolen bitcoin back to Silver's clients. "I have $30 million that has been stolen from my clients that they would very much like back, and if you believe a bitcoin is real and can be a replacement for money, then someone has to be responsible for it," he said. "I believe we are going to keep tracking down the users and trace the bitcoin through the blockchain, and when someone tries to move some of it, we will hopefully locate the person." In theclass action, the plaintiffs claimed they noticed intermittent problems with Cryptsy's website in October 2015 and got a notice from the company the following month that software problems required it to pause all electronic wallets. By December 2015, they claimed Vernon had ceased operations, shut down Cryptsy's offices and stopped responding to inquiries after informing users of an alleged phishing scam targeting the site. The plaintiffs sued for conversion, negligence, unjust enrichment, civil conspiracy, fraudulent conveyance and other charges. Cryptsy and Vernon didn't answer the lawsuit and a federal judge in Floridacertified the matteras a class action in August 2016. The court appointed a receiver for Project Investors Inc. after Vernon allegedly shredded company files. The receiver launched a forensic analysis of Cryptsy's digital records and reported that Vernon liquidated company accounts in 2015 to purchase a $1.4 million mansion, a $100,000 diamond ring and a luxury car. The receiver also tracked digital currency. Patrick Rengstl, the lawyer for court-appointed receiver James Sallah, didn't return a call seeking comment. Silver said the stolen bitcoins will eventually get back to their rightful owners, even if it takes years. The government is already scrutinizing the cryptocurrency world, and regulation is coming, he said. Eventually, more courts will issue bigger and bigger judgments in cryptocurrency cases. "I'm just a little guy and if I'm knocking at this door, someone eventually will knock louder and get more results, and eventually we will reach a tipping point. A tipping point is coming U.S. courts and federal court judges believe they have power to enforce their orders, and in the United States of America, that's a true fact," Silver said. || Dollar, shares bounce on relief at North Korea inaction: By Wayne Cole SYDNEY (Reuters) - The U.S. dollar won a reprieve from risk aversion on Monday after North Korean dictator Kim Jong Un decided to hold a party over the weekend rather than launch another missile, tempering safe havens like the yen and Treasuries. Investors remained cautious over the possible economic impact of Hurricane Irma as it chewed its way up the Florida coast, knocking out electricity to 2.5 million homes and businesses statewide. Nikkei futures (NKc1) were trading up 0.8 percent after Pyongyang held a massive celebration to congratulate the nuclear scientists and technicians who steered the country's sixth and largest nuclear test a week ago. The United States and its allies had been bracing for another long-range missile launch in time for the 69th anniversary of North Korea's founding on Saturday. The sense of relief was enough to lift E-Mini futures for the S&P 500 (ESc1) by 0.3 percent, while Treasury 10-year note futures fell 10 ticks. The U.S. dollar edged up to 108.43 yen (JPY=) and away from Friday's 10-month trough of 107.32. Against a basket of currencies, the dollar added 0.2 percent to 91.521 (.DXY) but that was still uncomfortably close to last week's 2-1/2 year low of 91.011. The euro eased to $1.2015 (EUR=), having hit a top of $1.2092 on Friday amid speculation the European Central Bank was closer to starting a wind-back of its stimulus program. ECB officials last week generally agreed their next move would be to cut their bond purchases and discussed a range of options, Reuters reported. China's central bank was also a focus in Asia after sources said it plans to scrap reserve requirements for financial institutions settling foreign exchange forward yuan positions with effect from Monday. "The removal potentially makes it easier for traders to purchase the USD, easing the pressure for yuan appreciation," said analysts at ANZ in a note. "The change likely signals some discomfort about the stronger yuan and its impact on Chinese exports." The dollar was last up 0.25 percent against the offshore yuan at 6.5013 yuan (CNH=), off a low of 6.4437. There were also reports Beijing was planning to shut down local crypto-currency exchanges, dealing a blow to Bitcoin's recent stellar rally. Bitcoin was quoted down 0.8 percent at $4,274 (BTC=BTSP) on the BitStamp platform, off the recent record high of nearly $5,000. In commodity markets, gold softened 0.7 percent to $1,337.01 an ounce (XAU=) and away from a one-year peak of $1,357.54. Oil prices regained a little ground after falling sharply on Friday amid worries that energy demand would be hit hard by Hurricane Irma. Story continues U.S. crude (CLcv1) was trading 22 cents firmer at $47.70 a barrel, while Brent (LCOcv1) rose 17 cents to $53.95. (Editing by Richard Pullin) View comments || Top 5 things that moved markets this past week: What will next week bring? Investing.com – Take a peek at the top 5 things that rocked U.S. markets this week. The euro made a late dash to the top EUR/USD surged to session highs in late trade Friday, following a speech by European Central Bank president Mario Draghi at Jackson Hole. As was widely expected, Draghi offered little in the way of clues about the European Central Bank’s plan to reduce its ultra-loose monetary policy measures but he did, however, highlight the trend of growing global economic growth. In a speech titled “Sustaining openness in a dynamic global economy”, Draghi said the global recovery is firming up, suggesting that growth has been “visible for some years”, particularly in the US, Europe, and Japan. Bitcoin back with a bang, nearly Bitcoin resume its rally, following a poor to start to the week, when it fell to a nearly two-week low of $3,600 amid fears of a correction. The slump in bitcoin, however, was short lived as the cryptocurrency rallied close to its all-time high of $4,489.1 on Friday, leaving many a trader talking up the prospect of the digital currency hitting $5,000. There was no such luck for Bitcoin’s rival, Bitcoin Cash, as the newly created cryptocurrency fell from its recent peak of $935.50 to trade just above $600. Yellen dented rate hike hopes Federal Reserve chair Janet Yellen avoided talking about monetary policy in a speech at Jackson Hole on Friday, denting expectations of a third rate hike later this year, pressuring the dollar to slump to a three-week low against its rivals. It what could be Yellen’s last ever speech as Fed chair at the Jackson Hole symposium – as President Donald Trump has not indicated whether he will reappoint her – the Fed chief warned that any rollback of post-crisis regulations should be “modest” to ensure the safety of the financial system. Crude oil kicked up bearish storm to post 4th weekly loss Crude oil futures slumped to a fourth weekly loss, despite settling higher on Friday, on the back of concerns that Hurricane Harvey could disrupt refinery activity, reducing demand for crude oil. Story continues Government weather agencies said Harvey became a Category 3 storm as it crossed the Gulf of Mexico with winds reaching 120 mph (193 kph). Traders anticipated lower demand for crude oil, the primary input at refineries amid expectations that the storm could create flooding and power cuts, leading to disruption at refineries. Gold tried to close above $1,300 but ultimately failed Despite the drop in investor expectations of a rate hike later this year, and ongoing turmoil in Washington, gold futures struggled to close above $1,300. The yellow metal looked set to breach the key level earlier in the week, following an uptick in US political uncertainty, after President Donald Trump threatened to ‘close down’ the government in order to secure funds for a U.S.-Mexico border wall. Towards the tail end of the week, however, U.S. political uncertainty eased somewhat amid renewed hopes for tax reform, after chief economic advisor Gary Cohn said that president will make a major push on tax reform over coming weeks. Related Articles Peru stocks higher at close of trade; S&P Lima General up 0.28% Weekly ETF Gainers / Losers Microsoft discontinues original Xbox One || Bitcoin plunges below Goldman Sachs' target before rebounding sharply: Bitcoin (A bitcoin sign in a window in Toronto.Reuters/Mark Blinch) Bitcoin is making a comeback after taking a weekend plunge. The cryptocurrency dropped by nearly 20% over the weekend, putting in a low of $1,758 a coin before recouping some of those losses. It's currently trading at $2,048. At the low point, bitcoin was down by more than 40% from its record high of about $3,000, set June 12. The weekend plunge pushed the cryptocurrency below the target of Sheba Jafari, the head of technical strategy at Goldman Sachs . In early July, Jafari put out a note saying bitcoin was "still in a corrective 4th wave" that "shouldn't go much further than 1,857." Jafari wasn't the only one who thought bitcoin was getting ahead of itself. Tech billionaire Mark Cuban suggested bitcoin was in a "bubble." Back on June 6, just before the cryptocurrency put in its record high, Cuban tweeted: "I think it's in a bubble. I just don't know when or how much it corrects. When everyone is bragging about how easy they are making $=bubble." Additionally, Jeffrey Kleintop, the chief global investment strategist at Charles Schwab, said bitcoin was in a bubble unlike any we had seen before . As for where bitcoin will go from here, Jafari's July 3 note suggested that after a big drop, a fifth wave would take bitcoin to record highs. "From current levels, this has a minimum target that goes out to 3,212 (if equal to the length of wave I)," Jafari wrote. "There’s potential to extend as far as 3,915 (if 1.618 times the length of wave I). It just might take time to get there." Even with the recent plunge, bitcoin is up 113% in 2017. Bitcoin (Investing.com) NOW WATCH: Wells Fargo Funds equity chief: Shorting anything is 'playing with fire' More From Business Insider Trump's lawyer let something slip about the Russia meeting that raises questions about whether Trump attended Trump Jr.'s meeting with a Russian lawyer sheds new light on the extent of Russia's election interference Ethereum is still crashing, and just fell below $200 View comments [Random Sample of Social Media Buzz (last 60 days)] One Bitcoin now worth $4007.01@bitstamp. High $4042.05. Low $3600.00. Market Cap $66.194 Billion #bitcoin || I've just posted a new blog: El #bitcoin cotiza en 4000 dólares y sigue la locura por la criptomoneda http://ift.tt/2hWIXkI  || Gostei de um vídeo @YouTube http://youtu.be/mpJvv1lMRGo?aMMM … BRAZIL PAGA 1,35 BTC = R$ 19.000,00 MIL REAIS || $3499.15 at 12:15 UTC [24h Range: $3369.99 - $3500.00 Volume: 10256 BTC] || luke-jr: Segwit (without 2X) is 2-4 MB. Even 1 MB is too large, however.https://www.reddit.com/r/Bitcoin/comments/6tdbtx/why_is_segwit_2x_bad/dlktth9?context=3 … || あ、いや、しっかり下がってるから言ったんです。 おrrrrrさんの証拠金溶けたらヤバイでしょうｗｗｗ || Aug 30, 2017 03:00:00 UTC | 4,676.10$ | 3,904.80€ | 3,617.70£ | #Bitcoin #btc pic.twitter.com/vfeUxeQRn4 || $4615.98 at 05:45 UTC [24h Range: $4479.00 - $4630.00 Volume: 8314 BTC] || Try fatguyslim at https://LocalBitcoins.com/ad/165494?ch=w7m … only £2,678.00 per BTC. (BPI +2.01%) #buy #bitcoin #banktrans || Bitcoin, Ethereum, Ripple, Bitcoin Cash: Price Analysis, August 13 http://ow.ly/YDLD50dq30J 
Trend: down || Prices: 4130.81, 3882.59, 3154.95, 3637.52, 3625.04, 3582.88, 4065.20, 3924.97, 3905.95, 3631.04
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] Not fully available. [Random Sample of News (last 60 days)] Bitcoin is going nuts: (George Frey/Getty Images) Another day, another monster run for bitcoin traders. Bitcoin was trading around $240 in the beginning of October. Now — after a gain of 10% on Tuesday added to its earlier run — it's closer to $400. Now, bitcoin traders are looking for answers as to why the cryptocurrency is skyrocketing in value. "You're seeing more and more institutional investors moving into the space," said Brendan O'Connor, CEO of Genesis Global Trading, a bitcoin broker. Demand has been coming from China. O'Connor said the daily volume of bitcoin trades from China has been two to three times the ordinary amount over the past two weeks. It's not just the value of bitcoin that's increasing; it's also the prevalence of use. The number ofdaily bitcoin transactions appears to be steadily rising, according to tracking site Coinbase. And that has the potential to have a tremendous effect on the cryptocurrency. "We are seeing unprecedented volume globally," said Michael Sonnenshein of Grayscale Investments, which manages the Bitcoin Investment Trust, a publicly listed vehicle that tracks bitcoin. Bitcoin Investment Trust hasn't been public very long, but it enjoyed a run-up ofmore than 7% on the good news Tuesday. Neither O'Connor nor Sonneshein centered on a single factor that is boosting bitcoin's value. Sonneshein pointed out that as bitcoin auctions run by the US Marshals draw closer (only in a handful of instances), the cryptocurrency tends to see increased trading activity. The next government auction of seized bitcoin isNovember 5. Here's a graph tracking bitcoin: (Blockchain.info)Blockchain.info captures the run-up in bitcoin prices. NOW WATCH:JAMES ALTUCHER: 'Warren Buffett is a f-----g liar' More From Business Insider • The Money Of The Future Will Look More Like Bitcoin Than The Paper We Carry Around Today • Bitcoin keeps surging, makes another new high for 2015 • FINANCE PROFESSOR: Bitcoin Will Crash To $10 By Mid-2014 || Bitcoin Investor, Taking Things to a New Level: Bitcoin Exchange Offices to Be Opened in 6 Countries: WILMINGTON, DE--(Marketwired - November 01, 2015) -Digital currency markets, especially those of Bitcoin, continue to be surrounded by a lot of hype these days and while some skeptics claim that Bitcoin will always remain the currency of the future, without ever embodying that so much expected future, the tech industry businessmen who take the enthusiast side are putting money down on the table to invest in Bitcoin and the development of the opportunity they see attached. Miners Center Inc., a Delaware based cryptocurrency trading company, has taken bold action in the direction of digital currency, as they do not only see it being in a sweet spot, but they also believe it will deliver according to Bitcoin believers' expectations in the near future. Since it has been established in 2014, the company has been buying large amounts of Bitcoin, at higher market price, in order to achieve their targeted volumes for what is boldly outlined within their business plan as the next step. By the end of Q4, Miners Center will have opened ten small Bitcoin exchange offices throughout the globe: three of them in the USA, two in Canada, two in Australia, one in the UK, one in Germany and one in Hungary. Although the company has planned everything in detail, specific information related to the exact location of the exchange offices and their operational means will be revealed at their actual launching, which will be handled by the company with proper PR and marketing exposure. However, besides the news of taking things further with Bitcoin, Miners Center does state that the rates policy within the physical exchange offices will not bring over-the-market-price revenues to its clients, as the company's actual customers have been accustomed up to this point. The current 10% higher-than-the-market-price rate for Bitcoin purchase offered by Miners Center via their official web-site (www.minerscenter.com) has taken so far the shape of a different business unit within the company, governed by a targeted volume-buying strategy and both the exclusively buyer orientation and hot offer itself, will be discontinued as soon as the company reaches enough Bitcoin resources to start operating what was intended as their core business in the first place. Miners Center state that they are very close to reaching the desired purchase volumes and such turn is expected in the near future. The CEO of Miners Center, Emilian Tourey, an enthusiast, true believer and an advocate of the Bitcoin currency claims that he's proud of having seen the opportunity and having invested his money into something he strongly believes will bring both a substantial return of investment and a tremendous personal satisfaction for being among the first who's supported building up an alternative to the current financial system. "I am not naive, nor am I a dreamer. I am business man and I do see the flaws attached to Bitcoin, together with the security issues and I also hear the skeptics' arguments. However, I also see the need of more and more people for an alternative to what is now the mainstream financial system. Businesses involved with Bitcoin now need to understand that in order to gain exposure to a larger public, we have to make Bitcoin easily understandable and available to a broader audience and in order to do that, we have to use some of the traditional ways, but without pushing them too far and aiming to become the new bankers at the table. This is one of the major challenges I see for Bitcoin to achieve a widespread adoption, together with the legal legitimacy and a fair, non-opposing regulations," states Tourey. Taking the Bitcoin deal from exclusively online to the physical, traditional exchange office may be indeed considered the cornerstone of creating the alternative system Tourey aims at. More information about Miners Center Inc. may be found at their official web-site:www.minerscenter.com || Banks expected to adopt new technologies rather than be overrun: NEW YORK (Reuters) - New technology firms are battering all kinds of companies, but banks will remain as financial intermediaries, due to the regulations and duties governments have put on them, says a proponent of the technology behind the bitcoin cryptocurrency. "Regulation keeps them in place. Regulation requires them to perform certain functions," said Mark Smith, chief executive of Symbiont.io, a startup that has emerged from Bitcoin 2.0 and MathMoney f(x) Inc to build a securities trading platform using blockchain technology like that behind bitcoin. Smith predicted that big banks, such as JPMorgan Chase & Co, would adopt new technologies to cut costs for back offices that process loans and match buyers and sellers of securities. "A massive amount of infrastructure just goes away," said Smith, who was speaking on Thursday in a panel discussion held by Thomson Reuters on innovation and disruption in financial services. New competitors are coming into banking from Silicon Valley, JPMorgan's chief executive, Jamie Dimon, warned bank shareholders this year. But he also said JPMorgan had much to learn from them and might enter partnerships with some. JPMorgan worked with Apple Inc on last year's launch of the Apple Pay application for making credit and debit card payments with smartphones. Last month the bank said it would also operate a rival digital wallet called Chase Pay. Later, Smith said his firm expected to sell tools to big banks for securities trading by customers. "We are a disrupter and an enabler as well," he added. Another panel member, Sam Shrauger, senior vice president of digital solutions at card and payments company Visa Inc, said that while cash and paper check transactions give way to electronic messages, "that's not going to change the overarching way that we move money." (Reporting by David Henry in New York; Editing by Clarence Fernandez) || PRESS DIGEST- New York Times business news - Nov 5: Nov 5 (Reuters) - The following are the top stories on the New York Times business pages. Reuters has not verified these stories and does not vouch for their accuracy. - Expedia Inc said it had agreed to acquire HomeAway Inc for $3.9 billion, adding vacation rentals to its wide swath of online travel booking options. (http://nyti.ms/1MdPtXu) - Facebook Inc on Wednesday posted another quarter of robust revenue growth - up 41 percent in the third quarter from a year earlier, to $4.5 billion - fueled by its mobile advertising business and an increase in daily users. (http://nyti.ms/1GMEMyi) - A Senate committee has started an investigation into the large drug price increases by Turing Pharmaceuticals and three other companies such as Valeant Pharmaceuticals Inc, responding to public concern about escalating prices for critical medicines. (http://nyti.ms/1OpOV6D) - After a long period of quiet, the price of the virtual currency Bitcoin is surging again as signs of interest from China and Wall Street have helped kick off a new speculative frenzy. (http://nyti.ms/1Sq3Uwa) - The U.S. Federal Reserve could raise its benchmark interest rate in December as long as economic growth continues, two senior Fed officials said on Wednesday, hammering that message in repeated public remarks. (http://nyti.ms/1Wxp9Sq) (Compiled by Rishika Sadam in Bengaluru) || As California's Drought Drags On, Winners And Losers Emerge: California's severe drought is dragging through its fourth year, leaving the state to continue finding ways to cut back on water usage. Many of California's biggest businesses have been hard hit by the shortage, but other firms are using the crisis as an opportunity. Agriculture Water usage in agriculture is essential, so regulations cutting back on the amount farmers can use each day have been detrimental to the industry. This is especially true for poultry processors who use gallons of water to sanitize and clean each chicken. California's poultry farms process about 3 percent of the U.S. total, adding up to a great deal of water use. Related Link:California Drought Stocks To Look At Organics Suffer Farms throughout California have been required toreduce their water useby 25 percent and cut back on outdoor watering – something that has taken a toll on the state's crops, especially those that are organic. As organic crops are typically more difficult to grow and require more resources, prices have risen to cope with smaller yields in the wake of the shortage. However, for companies likeMonsanto Company(NYSE:MON),E I Du Pont De Nemours And Co(NYSE:DD) andSyngenta AG (ADR)(NYSE:SYT), the drought has had the opposite effect. The shortage of water has created a demand for seeds that have been genetically modified to increase crop yields and reduce costs for farmers. Cutting Back Is A Big Business California residents have also been subjected to strict water usage limits, making everyday tasks like watering their lawns or even showering more complicated. However, businesses who help track and cut down on water consumption have seen a boost in sales, as meters are installed and efficient usage gadgets are put to use.Mueller Water Products, Inc.(NYSE:MWA), a company that makes water meters, andRexnord Corp(NYSE:RXN), which focuses on efficient plumbing systems, are both expecting the drought to boost sales and increase their bottom lines. Image Credit:Public Domain See more from Benzinga • Is Europe Recovering Or Not? • In An Effort To Shore Up Cyberdefense, The FBI Looks To Teens • Europol Highlights Bitcoin Use Among Criminals © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || How Bitcoins Have Evolved: CFTC Rules to Define Bitcoins as Commodities Introduction of the bitcoin The bitcoin, which made its debut in 2009, is often referred to as the world’s first decentralized digital currency, and it has the highest market capitalization when compared to its peers. Its invention is credited to Satoshi Nakamoto. Like other virtual currencies, bitcoins can be used as a form of payment. Bitcoins are initially created by an activity known as mining, where a person who completes a specific online task is rewarded with bitcoins. As with any conventional currency, inflation affects bitcoins too, so a control process was set up so that the reward goes on decreasing over time for a work of similar difficulty. The major advantages of using bitcoin as a payment method includes anonymity, no taxes on sales through bitcoins, and low transaction costs. Bitcoin price movements since inception The Cyprus bailout in 2013 was a major break for bitcoins, as people tried to preserve their wealth before the bailout condition took effect by buying bitcoins. As a result, the bitcoin price nearly tripled in March 2013. After the Cyprus bailout, the bitcoin was trading nearly flat for some time, as virtual currencies like bitcoins were under the radar, as they began to be used for criminal activities. The next major boost for the bitcoin came towards the end of 2013 with both the US Senate and the People’s Bank of China giving positive remarks about the virtual currency. This drove more investments, especially from China, as the bitcoin scaled all-time high levels in November 2013. In December 2013 however, the Chinese government took action to curb the increasing popularity of the bitcoin, as the official currency, the renminbi, was under pressure. The government banned financial institutions from the use of bitcoins. After the Chinese governments’ measures, bitcoins failed to recover and have been on a downward trend since then. Part two of the series will look into the latest development in bitcoins with the CFTC (Commodity Futures Trading Commission) declaring bitcoins and other virtual currencies as commodities. Story continues Market impact Companies like WPCS International (WPCS) will be sensitive to updates on bitcoins, since they own a bitcoin trading platform. Other stocks that will be majorly impacted are pro bitcoin companies like Tesla Motors (TSLA), Zynga (ZNGA), and eBay (EBAY). The registration process is ongoing for bitcoin ETFs with the Winklevoss Bitcoin Trust ETF (COIN) set to become the first bitcoin ETF if authorities approve it. The bitcoin ETF is expected to be similar to other commodity ETFs like the SPDR Gold Trust ETF (GLD) and the United States Oil Fund ETF (USO), which deal with gold and crude oil, respectively. Continue to Next Part Browse this series on Market Realist: Part 2 - CFTC Rules Bitcoins Be Regarded as Commodity || Banks expected to adopt new technologies rather than be overrun: NEW YORK (Reuters) - New technology firms are battering all kinds of companies, but banks will remain as financial intermediaries, due to the regulations and duties governments have put on them, says a proponent of the technology behind the bitcoin cryptocurrency. "Regulation keeps them in place. Regulation requires them to perform certain functions," said Mark Smith, chief executive of Symbiont.io, a startup that has emerged from Bitcoin 2.0 and MathMoney f(x) Inc to build a securities trading platform using blockchain technology like that behind bitcoin. Smith predicted that big banks, such as JPMorgan Chase & Co, would adopt new technologies to cut costs for back offices that process loans and match buyers and sellers of securities. "A massive amount of infrastructure just goes away," said Smith, who was speaking on Thursday in a panel discussion held by Thomson Reuters on innovation and disruption in financial services. New competitors are coming into banking from Silicon Valley, JPMorgan's chief executive, Jamie Dimon, warned bank shareholders this year. But he also said JPMorgan had much to learn from them and might enter partnerships with some. JPMorgan worked with Apple Inc on last year's launch of the Apple Pay application for making credit and debit card payments with smartphones. Last month the bank said it would also operate a rival digital wallet called Chase Pay. Later, Smith said his firm expected to sell tools to big banks for securities trading by customers. "We are a disrupter and an enabler as well," he added. Another panel member, Sam Shrauger, senior vice president of digital solutions at card and payments company Visa Inc, said that while cash and paper check transactions give way to electronic messages, "that's not going to change the overarching way that we move money." (Reporting by David Henry in New York; Editing by Clarence Fernandez) || MarilynJean Interactive (OTCQB: MJMI) Sets Its Sights on $24B Philippines Remittance Market: HENDERSON, NV / ACCESSWIRE / October 12, 2015 /MarilynJean Interactive (MJMI) today announced it has entered into advanced discussions with a provider of Bitcoin-based remittance services. The potential remittance partner is a fully licensed money services business on the cutting edge of the remittance space, using Bitcoin to effect low cost transfers, primarily to the Philippines. With a well-established brand, multiple Bitcoin ATMs, solid financial partnerships in the Philippines, MJMI's management is excited about the potential synergies that could result from this relationship. In 2014, according to Focus Economics, remittances to the Philippines hit a record high, exceeding USD 24 Billion, accounting for roughly 8.5% of that country's GDP. Those funds came primarily from overseas workers sending funds home to their families. Traditional remittance companies charge upwards of 8% fees on the total funds being sent, in addition to less than favorable exchange rates and taking up to 3 days to clear for pick up. Using Bitcoin, transfers can be effected in virtually real time at a fraction of the cost to the user. Funds can be sent directly to the recipient's bank account or made available for pick up at a partner location or even via a card-less ATM withdrawal. In a Bitcoin based remittance transaction, an overseas worker would deliver funds to a remittance provider. This service provider would buy Bitcoin on behalf of the customer and then transfer the coins, paying less than 1% to do so, to the selling partner in the recipient country. The selling partner would then sell the Bitcoins and then transfer the funds to the final recipient. Because there is a price difference between the buying and selling of the Bitcoins, it is possible for the two transfer partners to profit sufficiently from the Bitcoin trade to offer the transfer service for a significantly lower fee than any traditional currency (known as FIAT) based remittance service. Bitcoin therefore offers the potential to completely alter the landscape of worldwide money transfers. The two companies share a vision on the massive opportunities in this space as well as on the future direction of expansion, namely servicing the remittance markets in Mexico and India. In addition, both companies agree that acquiring and operating a Bitcoin exchange would allow the partners to offer a seamless, end to end solution to customers. More sophisticated clients could eventually use their own Bitcoin wallets to move money through a jointly designed system, allowing them to effect transactions from their mobile phone through a licensed and trustworthy remittance system. Peter Janosi, MJMI's president said: "We are very excited to be in advanced discussions with this potential remittance partner. They are at the forefront what we expect will be a massive shift in the way global remittances are effected. Their team shares our view that remittance fees are exorbitantly high and that current providers profit excessively by offering poor, often hidden, exchange rates. We believe that, in this area, Bitcoin has tremendous promise to disrupt a system that unfairly charges high rates to hard working people who have left their families to work overseas in hopes of providing them with a better life. We believe the growth potential in this sector is massive and that we are on the right track in terms of identifying the right partners who share our vision." MJMI is in the business of providing safe and accessible services for the users of Bitcoin and other crypto-currencies. MJMI is currently exploring partnerships with several existing Bitcoin and crypto-currency exchanges as well as manufacturers and operators of Bitcoin ATMs. Such a combination would place the company in an exciting position to offer an end to end solution for trading in various crypto-currencies and potentially capture a share of the lucrative markets of Bitcoin trading and remittance services, just as these markets appear poised to undergo massive growth. About Bitcoin and Crypto-Currencies: Bitcoin and other crypto-currencies are a medium of exchange using cryptography to secure transactions and control the creation of new units. Bitcoin became the first decentralized crypto-currency in 2009. Crypto-currency is produced at a rate which is defined when the system is created and publicly known. By contrast, in centralized banking and economic systems, such as the Federal Reserve System, corporate boards or governments control the supply of currency by printing units or demanding additions to digital banking ledgers. However, neither companies nor governments can produce units of crypto-currency and as such the value of crypto-currencies are completely based on supply and demand, free from any governmental control. Many people believe crypto-currencies, and in particular bitcoin, hold the promise of being the most significant advancement in global finance in modern history. The advent of bitcoin creates a secure, easily accessible and transferable transnational currency that is completely liberated from political influence. Richard Branson, head of the Virgin Group, is quoted on his company's website as saying: "I have invested in Bitcoin because I believe in its potential, the capacity it has to transform global payments is very exciting." Heavyweight investment bank Goldman Sachs (NYSE:GS), announced on April 30th 2015 that it had partnered with Chinese investment firm IDG Capital partners to invest $50 million in a Bitcoin start-up. Numerous high-profile firms have begun accepting Bitcoin as a payment method including: Dell Inc. (NASDAQ:DELL), Dish Network Corp. (NASDAQ:DISH), Expedia Inc. (NASDAQ:EXPE), and Overstock.com (NASDAQ:OSTK). MarilynJean Media Interactive is among the first publicly traded companies focused on bitcoin and the crypto-currency space. The company's trading symbol is (MJMI). Website:http://www.marilynjean.com/ Press Contact:[email protected] SOURCE:MarilynJean Interactive || How Bitcoins Have Evolved: CFTC Rules to Define Bitcoins as Commodities Introduction of the bitcoin The bitcoin, which made its debut in 2009, is often referred to as the world’s first decentralized digital currency, and it has the highest market capitalization when compared to its peers. Its invention is credited to Satoshi Nakamoto. Like other virtual currencies, bitcoins can be used as a form of payment. Bitcoins are initially created by an activity known as mining, where a person who completes a specific online task is rewarded with bitcoins. As with any conventional currency, inflation affects bitcoins too, so a control process was set up so that the reward goes on decreasing over time for a work of similar difficulty. The major advantages of using bitcoin as a payment method includes anonymity, no taxes on sales through bitcoins, and low transaction costs. Bitcoin price movements since inception The Cyprus bailout in 2013 was a major break for bitcoins, as people tried to preserve their wealth before the bailout condition took effect by buying bitcoins. As a result, the bitcoin price nearly tripled in March 2013. After the Cyprus bailout, the bitcoin was trading nearly flat for some time, as virtual currencies like bitcoins were under the radar, as they began to be used for criminal activities. The next major boost for the bitcoin came towards the end of 2013 with both the US Senate and the People’s Bank of China giving positive remarks about the virtual currency. This drove more investments, especially from China, as the bitcoin scaled all-time high levels in November 2013. In December 2013 however, the Chinese government took action to curb the increasing popularity of the bitcoin, as the official currency, the renminbi, was under pressure. The government banned financial institutions from the use of bitcoins. After the Chinese governments’ measures, bitcoins failed to recover and have been on a downward trend since then. Part two of the series will look into the latest development in bitcoins with the CFTC (Commodity Futures Trading Commission) declaring bitcoins and other virtual currencies as commodities. Market impact Companies like WPCS International (WPCS) will be sensitive to updates on bitcoins, since they own a bitcoin trading platform. Other stocks that will be majorly impacted are pro bitcoin companies like Tesla Motors (TSLA), Zynga (ZNGA), and eBay (EBAY). The registration process is ongoing for bitcoin ETFs with the Winklevoss Bitcoin Trust ETF (COIN) set to become the first bitcoin ETF if authorities approve it. The bitcoin ETF is expected to be similar to other commodity ETFs like the SPDR Gold Trust ETF (GLD) and the United States Oil Fund ETF (USO), which deal with gold and crude oil, respectively. Continue to Next Part Browse this series on Market Realist: • Part 2 - CFTC Rules Bitcoins Be Regarded as Commodity || Bank Of America Prepares For Bitcoin Revolution: Bitcoin has been slow to catch on across the globe as uncertainty about safety and security has kept the general public from embracing the cryptocurrency. However, many businesses are preparing themselves for a day when cryptocurrencies are widely accepted as such a time may not be far off in the future. Bank of America Corp(NYSE:BAC) is one such firm, which has seen the potential of using bitcoin to improve its operations. Patent Application On September 17, Bank of Americasubmitteda patent application for the use of bitcoin in order to facilitate international money transfers. The bank is not the first to see bitcoin as a game-changer when it comes to cross border payments. At the moment, sending money to an account abroad is time consuming and costly, but using bitcoin for the same transaction would significantly reduce the time spent and fees charged as the cryptocurrency eliminates the need for a third party intermediary. Related Link: Bitcoin Gaining Traction At Colleges Around The World Bitcoin Catching On Bank of America's application is the first from a major retail bank, suggesting that bitcoin may finally be shedding its "dangerous" image. However, this is not the first time a big name firm has applied for a bitcoin-related patent,Mastercard Inc(NYSE:MA),International Business Machines Corp.(NYSE:IBM) andAmazon.com, Inc.(NASDAQ:AMZN) have all applied for patents to protect their own proposed usage of the cryptocurrency. Patents Criticized Some within the bitcoin community have been critical of companies like Bank of America and bitcoin firm Coinbase, which recently applied for bitcoin patents. As bitcoin was designed to be an open source software that works around traditional financial models, many believe that patenting bitcoin systems goes against the purpose of digital currencies. However, others say it is a necessary step for businesses that want to get into the space and if one firm doesn't patent something, another eventually will. See more from Benzinga • Fed Could Raise Rates In September: What Does It Mean? © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. [Random Sample of Social Media Buzz (last 60 days)] Current price: 163.95£ $BTCGBP $btc #bitcoin 2015-10-14 02:00:03 BST || LIVE: Profit = $65.98 (1.10 %). BUY B18.00 @ $330.73 (#BTCe). SELL @ $333.10 (#HitBTC) #bitcoin #btc - http://www.projectcoin.org  || #RDD / #BTC on the exchanges: Cryptsy: 0.00000004 Bittrex: 0.00000005 Average $1.0E-5 per #reddcoin 12:00:01 || 1 #bitcoin 743.44 TL, 255.091 $, 223.770 €, GBP, 15799.00 RUR, 30482 ¥, CNH, 328 CAD #btc || $281.00 #bitfinex; $280.64 #coinbase; $280.12 #bitstamp; $273.63 #btce; #bitcoin #btc || One Bitcoin now worth $232.40@bitstamp. High $232.98. Low $228.00. Market Cap $ 0.000 Billion #bitcoin pic.twitter.com/qnFy9XNpsU || #RDD / #BTC on the exchanges: Cryptsy: 0.00000004 Bittrex: 0.00000004 Average $1.0E-5 per #reddcoin 22:00:01 || $245.80 #bitfinex; $245.42 #bitstamp; $245.41 #coinbase; $244.00 #btce; #bitcoin #btc || #RDD / #BTC on the exchanges: Cryptsy: Error Bittrex: 0.00000003 Average $1.0E-5 per #reddcoin 16:00:03 || Current price: 159.45£ $BTCGBP $btc #bitcoin 2015-10-08 20:00:05 BST
Trend: up || Prices: 324.54, 323.05, 320.05, 328.21, 352.68, 358.04, 357.38, 371.29, 377.32, 362.49
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 2016-03-11] BTC Price: 421.69, BTC RSI: 54.24 Gold Price: 1258.70, Gold RSI: 62.75 Oil Price: 38.50, Oil RSI: 66.59 [Random Sample of News (last 60 days)] 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) || Here's how you can invest in the blockchain: As big banks and other financial institutions continue to feel the love for blockchain technology, many of our readers have wondered how they can get in. Can a private, non-institutional investor somehow invest in the blockchain? Answering the question requires a distinction between the b itcoin blockchain and the broader, non-bitcoin idea of blockchain technology. Think of the bitcoin blockchain as a public ledger in the cloud, not unlike a library book slip (see the above video for more). It shows every transaction made with the digital currency bitcoin; the transactions are added in bundles called "blocks," by "miners" who receive a small fee in bitcoin as incentive to add the data. (You can view that happening in-real time.) The bitcoin blockchain is public, open-source and permissionless. What banks want to build is a private, closed blockchain, sans bitcoin, sans miners, to process their own transactions. The appeal is that it would make their systems faster and more efficient (most big banks are using old, outdated software for their record-keeping), as well as reduce friction and transfer delays. The bitcoin community is skeptical about the effort. " Having a closed, permissioned ledger run by banks might allow for better auditing, but there’s no innovation there," says Jerry Brito, executive director of the nonprofit Coin Center, which has raised funding from the biggest names in bitcoin. "You still have to go through a consortium to use the ledger." Indeed, 45 banks, including heavy-hitters like Citi, Credit Suisse, and JPMorgan, have jumped on board with a consortium, called R3 , to test out blockchain technology. JPMorgan, eager to come out to an early lead in the blockchain race, announced last month it has been testing its own blockchain with 2,200 customers. In addition to banks trying to build their own blockchains, fintech startups like itBit are offering their own non-bitcoin blockchains to financial customers. The blockchain product itBit offers is called Bankchain. "Bitcoin is a public, anonymous use case of blockchain technology," says itBit COO Andrew Chang. "Many financial institutions don't want to use the bitcoin blockchain because it’s an anonymous network and they're not okay with that." Story continues Whether the strategy will even bear fruit is unclear, but as Alex Kwiatkowski of financial software firm Misys says, " No one wants to be the one financial company that didn’t invest in blockchain. It feels like California in the Gold Rush -- those making an early claim think they’ll get the most gold. But it’s just an efficiency improvement. There’s going to be some value there, they just need to unlock what it is without promising too much." As banks and other big corporations continue to claim interest in blockchain, the idealogical divide between that side and the bitcoin side will only widen. Dan Conner, who is building a distributed ledger called DisLedger, aptly explains why: " If you’re a bitcoin fanboy and you’re a crypto-anarchist, that’s fine. But those people don’t tend to run in the same circles as banks." Conner predicts that even the term "blockchain" will go out of fashion for Wall Street the way "bitcoin" has, because there are inherent weaknesses in a blockchain. For now, clearly, the big banks are big believers in blockchain—or at least, they say they are. If you, a regular investor (and Yahoo Finance reader), are also a believer, is there a way to invest in blockchain technology? The short answer is: not directly. But there are three roundabout ways you could invest in the bitcoin blockchain or the broader, Wall Street concept of blockchain. If you believe in the strength of the bitcoin blockchain, the best way to invest is to buy bitcoin. Whether you want to do that for price-speculation purposes or simply out of curiosity to own a nascent asset class, there are myriad ways to obtain some easily, from exchanges like Coinbase, Circle, Bitstamp or Kraken, which has expanded in the U.S. recently through acquisitions . A second would be to buy stock in the banks that have joined up with R3, such as BBVA ( BBVA ), BNP Paribas ( BNP.PA ), Citi ( C ), Credit Suisse ( CS ), ING Group ( ING ), JPMorgan ( JPM ), Royal Bank of Scotland ( RBS ), UBS ( UBS ), and Wells Fargo ( WFC ). Of course, for bitcoin true believers, buying bank stocks would defeat the purpose of a cryptocurrency designed to avoid traditional banks. Or you could buy shares in the Bitcoin Investment Trust ( GBTC ), which passively holds bitcoin to track the price (it's similar to the GLD gold trust) and began trading publicly over the counter last year. The trust was launched by Barry Silbert of the Digital Currency Group, which has invested in 75 bitcoin and non-bitcoin blockchain startups, and recently bought the news site CoinDesk . "We started the Trust," Silbert says, "as an easy way for casual investors to get exposure to the price of bitcoin without having to figure out where do you buy it, what price do you pay, and how do you store it. This is one easy way to play in the bitcoin/blockchain industry." The trust is up 20% since it began trading last May. And bitcoin itself is up 81% in the same time period. This is the second in a three-part Yahoo Finance series about blockchain technology. The first part was about why big banks are expressing interest in the blockchain; the third part is about the biggest names in the industry. -- Daniel Roberts is a writer at Yahoo Finance, covering sports business and technology. Read more: Bitcoin advocacy group scores funding from biggest names in industry Bitcoin industry consolidates: Why Kraken bought Coinsetter Bitcoin's biggest investor bought its biggest news site Here's a sign that PayPal is embracing Bitcoin || Lead developer quits bitcoin saying it "has failed": By Jemima Kelly LONDON, Jan 15 (Reuters) - Bitcoin slid by 10 percent on Friday after one of its lead developers, Mike Hearn, said in a blogpost that he was ending his involvement with the cryptocurrency and selling all of his remaining holdings because it had "failed". Hearn, one of five senior developers who has spent more than five years working on the web-based currency, said he would no longer be taking part in development. "Despite knowing that bitcoin could fail all along, the now inescapable conclusion that it has failed still saddens me greatly," Hearn said in his post on blog-publishing platform Medium. Along with Gavin Andresen, who was chosen by bitcoin's elusive creator Satoshi Nakamoto as his successor when he stepped aside in 2011, Hearn has been locked for months in a battle with the other lead developers over whether the "blocks" in which bitcoin transactions are processed should be enlarged. Each block currently has a capacity of one megabyte, which Hearn says is "an entirely artificial capacity cap", and allows a maximum of just three payments to be processed per second. In August, Hearn and Andresen released a rival version of the current software, called Bitcoin XT, which would increase the block size to 8 megabytes, allowing up to 24 transactions to be processed every second. While that is still a fraction of the 20,000 or so that Visa can process, it would increase every year, so that bitcoin could continue to grow. But the new software has not been adopted by the "mining" computers that secure the network, the majority of which are in China, according to Hearn. Hearn says the bitcoin network is about to run out of capacity as the volume of transactions increases. And when that happens, the network will become unreliable, with payments unable to be processed and vulnerable to fraud. "If an IT system runs out of capacity like that then all kinds of things go wrong - all hell breaks loose," he said in an interview with Reuters in late December. Story continues Hearn reckons the bitcoin community has "failed" in its governance of the crytocurrency's code. "What was meant to be a new, decentralised form of money that lacked 'systemically important institutions' and 'too big to fail' has become something even worse: a system completely controlled by just a handful of people," he wrote. SUDDEN DEPARTURE Just months ago, in August, Hearn told Reuters that whether or not Bitcoin XT was adopted, the crypocurrency would live on. "If we thought it might be the end of bitcoin, we wouldn't do it," he said then. Bitcoin was trading at around $390 on the itBit exchange by 2000 GMT, down from $430 before Hearn's blog post was published. In his December interview, Hearn said that when people realised that the bitcoin network was at breaking point, the price would fall. "The current price of bitcoin is supported almost entirely by people speculating on its future, in the assumption that this could be the money of tomorrow," he said. "So if the network starts to collapse, then a lot of people are going to look at it and say: well maybe we've miscalculated (its) future value." Hearn is now working for the R3CEV consortium of banks working on using the blockchain technology that underpins bitcoin in financial markets. Stephan Tual, the former chief operating officer of blockchain firm Ethereum, who now works at blockchain-based app developer Slock.it, also reckons bitcoin's future looks shaky. "Bitcoin is outdated technology - almost prehistoric by crypto standards," he said. "It's because of petty quarrels such as these that it hasn't been able to evolve in five years." Others were more upbeat. "I'm not ready to declare that Bitcoin has failed," wrote U.S. venture capitalist Fred Wilson. "Sometimes it takes a crisis to get everyone in a room... So if we are going to have a crisis, let's get on with it. No better time than the present." (Reporting by Jemima Kelly; Editing by Ruth Pitchford) || The IT industry is launching new markets worth more than $2 trillion, IBM CEO says: IBM CEO Ginni Rometty (Business Insider) IBM CEO Ginni Rometty It's fashionable these days to beat up on IBM and its CEO, Ginni Rometty. It's easy to point to a struggling share price, shrinking revenues across just about all of its traditional core businesses, a downright addiction to share buy-backs to prop-up share price and earnings-per-share ($4.5 billion worth of buybacks last year alone, a $125 billion worth in the decade prior.) Plus there's the never-ending layoffs handled with an almost paranoid sense of secrecy . But an extremely cheerful Rometty opened the company annual investor's day on Thursday to explain, again, where's she's leading the company and offer update on the progress. "I've been looking forward to this day," she told them with a big smile. This is in sharp contrast to the grin-and-bear-it mood of last year's investor meeting, when Rometty had just failed to meet her predecessor's promise of hitting $20 earnings per share in 2015. She says IBM is on track to meet her promise to investors, made last year, of hitting $40 billion worth of revenue in a bunch of new and more profitable markets by 2018. These include big data/analytics, cloud computing, security, social and mobile. The company has already hit $29 billion in these "strategic imperative" areas, and they are now 36% of IBM's $82 billion of revenue, she said. These new markets, which IBM calls "decision support" represent a $2 trillion market. Plus IBM sees a bunch of other growth markets. 1. Machine learning (which IBM calls 'cognitive computing") is at the heart of the $2 trillion market IBM sees developing by 2025 . This is where smart computers that can learn, can understand all kinds of data (even audio, photos, videos), reason, talk, make decisions and learn. Companies will use this to make all of their important decisions she believes. And it will be used to solve other problems like managing and curing illness. Watson is already being used by medical device manufacturer Medtronic to help patients predict dangerous low-blood sugar events up to two hours before they occur. Story continues Decision support will create $2 trillion worth of IT spending beyond the $1 trillion companies already spend on software, services and hardware. IBM Decision Support market (IBM) IBM sees a $2 trillion "decision support" market beyond the traditional software, services and hardware market where it already competes. 2. Hybrid computing will become a $400 billion market. This is a revamp of the traditional $1 trillion market. It's where companies maintain their own data centers while also using the cloud. Rometty didn't offer a time frame when this market will be worth that much. Some market researchers say it will be an $88 billion market in 2019. But she insists that most companies will adopt this model forever and that it's "not a transition phase" on the way for companies to go "all-in" on the cloud and unplug their data centers. In other words, she believes that IBM will continue to sell its hardware and software to companies forever, in addition to selling its cloud services. IBM investor briefing, Ginni Rometty (Business Insider) IBM CEO Ginni Rometty That's in contrast to the message being told by happy Amazon cloud customers. Amazon, the cloud computing leader, doesn't sell hardware or software and has an increasing roster of huge customers that are unplugging their data centers completely to use Amazon's cloud exclusively. Rometty offers as proof that hybrid is the future: In 2015 IBM's consulting unit signed 70 contracts "greater than $100 million" and "7 out of 10 of them were about hybrid cloud," she says. 3. Internet of Things will be a $400 billion market by 2019 . That's where all kinds of objects get sensors, apps and join the internet. All of the apps that run all of those objects will live on somebody's cloud. Every big IT company is going after this market. Cisco has said that IoT will be much bigger, a $19 trillion market in a decade. 4. Blockchain will eventually be worth "hundreds of billions of opportunity," Rometty says. Blockchain is the tech that underlines the online currency called Bitcoin. But Rometty says that it's much bigger than Bitcoin. It's a technology that can secure all kinds of important data, financial and otherwise. She says that IBM is already using it internally and IBM has already introduced a blockchain cloud computing service. She's not alone in thinking Blockchain will be huge. VC Marc Andreessen has been touting it, and investing in it . And the nonprofit Linux Foundation has launched a consortium to develop blockchain. IBM is a member, as is a who's who roster of tech and financial services companies. NOW WATCH: We tried Shake Shack and In-N-Out side by side, and it's clear which one is better More From Business Insider This man grew his company from $30 million to $100 million in one year, mostly thanks to Amazon Bill Gates offered the best advice on how to not feel overwhelmed when taking on huge projects Sexism almost ended the career of one of the most powerful women in the Valley and her new startup is fighting back || A bunch of hedge fund managers are chasing the 'dream of crushing a major structural problem': William Ackman, founder and CEO of hedge fund Pershing Square Capital Management, speaks during the Sohn Investment Conference in New York May 4, 2015. REUTERS/Brendan McDermid (Thomson Reuters) William Ackman, founder and CEO of hedge fund Pershing Square Capital Management, speaks during the Sohn Investment Conference in New York Finance Insider is Business Insider's midday summary of the top stories of the past 24 hours. To sign up, scroll to the bottom of this page and click "Get updates in your inbox," or click here. 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 first TV 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, an 18-year-old tennis player once sponsored by billionaire hedge fund manager Bill Ackman pulled off a pretty impressive trick shot to win a point in the RBC Tennis Championships of Dallas. And Uber will let you order a 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. Story continues 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. More From Business Insider What you need to know on Wall Street today Hedge fund traders found a new way to pass on inside information WHAT YOU NEED TO KNOW ON WALL STREET: The Steph Curry effect || Digatrade Executes Bitcoin Debit Card Development Contract: Digatrade Bitcoin Debit Card Set to Launch VANCOUVER, BC / ACCESSWIRE / February 25, 2016 /BITX FINANCIAL CORP (BITXF) and its 100% owned and operated digital asset-currency exchange DIGATRADE™ (digatrade.com) today announced the execution of a technology development agreement with ANX Technologies. Under terms of the agreement Digatrade will have a bitcoin debit card developed by ANX Technologies, one of the world's first financial technology companies to have developed a bitcoin debit card and one of the largest distributors of debit cards in the market offering customers as well as businesses a fast and reliable payment solution. The Digatrade debit card will provide a gateway between digital assets and traditional payments processing. The reloadable debit card can be used to make purchases in any retail, point-of-sale devices or withdraw cash from ATMs that support the global payment network. Digatrade customers will be able to add funds to their debit card via the Digatrade exchange platform and will empower digital assets to be accepted worldwide. More information will be made available as it materializes. ABOUT DIGATRADE: DIGATRADE is a global digital asset-currency exchange located in Vancouver, British Columbia, Canada. The Company is owned and operated 100% by Bit-X Financial Corp which is publically listed on the OTC.QB under the trading symbol BITXF. BITXF is a reporting issuer in the Province of British Columbia, Canada with the British Columbia Securities Commission "BCSC" and in the United States with the Securities Exchange Commission "SEC". Digatrade has now become a global platform offering its customers instant card-based transactions worldwide. CORPORATE CONTACT INFORMATION: Brad Moynes, CEOBit-X Financial CorpDigaTrade.com838 West Hastings Street, Suite 300Vancouver, BC V6C-0A6CanadaTel: +1(604) 200-0071Fax: +1(604) 200-0072www.digatrade.com Media inquiries: [email protected] Forward-Looking Information This press release contains certain "forward-looking information". All statements, other than statements of historical fact, that address activities, events or development that the Company believes, expects or anticipates will or may occur in the future constitute forward-looking information. This forward-looking information reflects the current expectations or beliefs of the company based on information currently available to the Company. Forward-looking information is subject to a number of significant risks and uncertainties and other factors that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, but are not limited to, the possibility of unanticipated costs and expenses. Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the company disclaims any intent or obligation to update any forward-looking information whether as a result of new information, future events or results or otherwise. 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:Bit-X Financial Corp || Bank of America is going big on blockchain: Bank of America (NYSE: BAC) is trying to steal a march on the latest developments in the technology behind digital currency bitcoin (: BTC=) by loading up on blockchain-related patents. Blockchain works like a huge, decentralized ledger for the digital currency bitcoin which records every transaction and stores this information on a global network so it cannot be tampered with. Major financial institutions -- including the Bank of England -- have released a number of notes over the last year on the potential of the technology and have created teams within their organizations to look into how to develop the cryptocurrency. But Bank of America is going one step further by attempting to patent some of the use cases of the technology. The company has already filed for 15 blockchain-related patents and is currently in the process of drafting another 20 to be submitted to the U.S. Patents and Trademark Office (USPTO) later this month, a spokesperson told CNBC on Wednesday. "Blockchain's very intriguing and for us it's a balance between not wanting to be Neanderthal but not wanting to put something out in a commercial application where the commercial application is still very unclear as a technologist, the technology is fascinating," Catherine Bessant, the chief operations and technology office at Bank of America, said during a CNBC event at Davos last week. "And we have tried to stay on the forefront, I think we have somewhere around 15 patents, most people would be surprised at Bank of America with patents in the blockchain or cryptocurrency space. (It's) very important in the intellectual property world to reserve our spot even before we know what the commercial application might be." In December, the United States Patent and Trademark Office (USPTO) published 10 of Bank of America's applications. The USPTO publishes patent applications 18 months after they're filed. But the latest information shows that the number of patents Bank of America has filed for and is looking to apply for is much higher. Story continues Bank of America patents published by the USPTO showed proposals for a "cryptocurrency risk detection system" and "suspicious user alert system" among others. These patents have not yet been granted. The technology might be some years off before becoming mainstream for banks, but institutions are taking a collaborative approach to the technology, working with start-ups and even rival lenders. A consortium of more than 25 banks, led by fintech (financial technology) company R3, is currently developing a framework for applying blockchain technology to markets. Last year, Goldman Sachs released a note that said blockchain could "change everything" while banks from Barclays to UBS explained how the technology could be used in areas from remittances to drawing up contracts. More From CNBC Top News and Analysis Latest News Video Personal Finance || Sprott Out At Namesake Gold Fund As Price Collapse Takes Toll: With gold's decline, an entire precious metals industry is in peril. And Eric Sprott's just the canary in the gold mine. [This article first appeared on IndexUniverse.com and is republished here with permission.] For those of you who regularly read my stuff, you know I love to write about charts and numbers and all sorts of nerd-ery. In this blog, I'm only going to use a single chart. If you're a gold investor, you know which chart I'm talking about: Gold Prx since Fall 2011 Chart courtesy of StockCharts.com This is the nightmare chart for gold investors. The price of gold has collapsed from all-time highs of slightly more than $1,900 an ounce in fall of 2011 to near $1,235 today. Just this year, gold investors, a lot of them investing through ETFs like the SPDR Gold Trust ( GLD | A-100 ), are down almost 27 percent, while investors in the SPDR S&P 500 Trust ( SPY | A-98 ) are up 27 percent. You don't need to be a math whiz to recognize that this has been a terrible, terrible year for anyone who made a big rotation out of equities in the last few years and into the shiny stuff. And while it's easy to kick people when they are down, here's the thing: It's not just gold investors who got hammered. It's an entire industry that's been built on the back of the gold rally. Consider GLD all by itself for a moment. GLD's peak NAV in August last year was $184.59. On that day, there were 424 million shares outstanding, for net assets of more than $78 billion, with an implied annual fee due of $313 million a year. Today assets stand at just $33 billion—well under half their peak, with an implied fee base of $131 million a year. That's nearly $200 million that's leaving the GLD management ecosystem. I'm not expecting anyone to feel sorry for the poor ETF issuer here (State Street and the World Gold Council). Rather, I'm pointing out that decline in gold has made for some rather dramatic shifts in the investment economy. Consider Eric Sprott. I first came to know of Sprott when his Physical Gold Trust launched in 2010—right in the froth of the run-up—and it was being called an "ETF" by various media sources (it's not; it's a closed-end fund). At the time, I ripped it apart for tax issues, poor marketing and various other shortcomings. That's nothing to the savaging Sprott received at the hands of one of the smartest bloggers on the Web, Kid Dynamite. Kid Dynamite has made a kind of sport out of watching how Sprott's closed-end funds magically become un-closed and issue new shares when they trade to large premiums. Story continues Nothing wrong there, other than the fact that the big recipient of those nonpremium shares tended to be other Sprott funds, who could then sell them for the premium price . Nice work if you can get it. But while the various shenanigans may have worked on the way up, they've brutalized the company—and Eric Sprott—on the way down. Take their flagship closed-end gold fund, PHYS. It launched on Feb. 26, 2010. GLD investors are up 9.09 percent since then. PHYS investors are up 6.36 percent. I don't know how you leave 1 percent a year on the table when your only job is to buy gold and stick it in a vault, but there you have it. The good news (if you're actually in one of Sprott's many funds) is that Sprott himself has gotten the ax, as noted by the extraordinarily unkind headline at Business Insider this morning: " One Of The Most Famous Gold Bug Fund Managers Has Gotten Obliterated ." The Wall St. Journal article is a bit more professional—" Gold Drop Is Blow to Prominent Hedge-Fund Manager Sprott "—but makes hay out of the fact that his namesake hedge fund is down 50 percent in 2013. That takes work. In the end, Sprott's getting the boot, and being replaced by new management. There's a whole lot of that going on in gold circles: people getting the boot and making way for turnaround specialists to come in and clean up business. The gold miner industry is awash in panic: The bellwether ETF in the space, the Market Vectors Gold Miners fund ( GDX | A-54 ), is down 66.4 percent since gold's peak in 2011, and down 54.49 percent just in 2013. That collapse is driven by very real work being done in the gold miner space to deal with the collapsing gold prices. Anglo American, for instance, brought in a new CEO to help make huge cuts, effect write-downs and position the company for a longer-term business. In some sense, that's all healthier than bubble economics. But that's small solace to any investor who's actually ridden Anglo American, PHYS, GDX or GLD to the ground these past few years. Of course, the question any rational investor should ask is, What's next? And that's where it becomes very difficult to read the news. In most rational sectors of the global economy, analysts are analysts. You read the reports from agricultural experts or retail-stock experts, and they generally call things as they see them. In the precious metals space, nearly every article you get off any kind of Google search will always be telling you why "Now is the time!" It's important to remember that gold—and the entire gold investment economy—is unique. Gold, by itself, is useless and valueless. It has value only because it's scarce, and then only because enough people believe its scarcity can make it a useful medium of representing value and making transactions. Gold is, essentially, an idea that people assign value to. Lots of folks believe? It goes up. Crisis of faith? It tanks. Which makes it surprisingly similar to that other highly volatile source of questionable stored-value: Bitcoin. Maybe that's where Sprott's next adventure will take him. I'll be camped firmly on the sidelines with a bowl of popcorn. At the time this article was written, the author held no positions in the securities mentioned. Contact Dave Nadig at [email protected] . Recommended Stories Bearish Inventory Report Doesn’t Change Bullish Outlook For NatGas Record Silver Investing, Record Silver Mine Output In 2014 NatGas Tests Top End Of Price Range After Demand Soars Natural Gas Will Eventually Fall Below $3 Potential Takeover Targets In The Mining Sector Permalink | © Copyright 2016 ETF.com. All rights reserved View comments || C&W Networks Selects Xtera for Upgrading Its Multiple Submarine Cable Systems to 100G Technology: MIAMI, FL and DALLAS, TX--(Marketwired - Jan 26, 2016) - C&W Networks , part of Cable & Wireless Communications (CWC), the largest telecommunications service provider across the Caribbean, Central America, Mexico and United States with more than 48,000 miles of subsea fiber-optic network has selected Xtera Communications, Inc . ( NASDAQ : XCOM ), a leading provider of high-capacity, cost-effective optical transport solutions, for upgrading its submarine cable systems in the western Atlantic ocean and the Caribbean Sea to 100G. By introducing Xtera's 100G coherent solution, C&W Networks continues to offer robust services across 42 countries with superior reliability and scalability of international wholesale capacity. C&W Networks has bolstered its subsea network capacity by upgrading several unrepeatered and repeatered segments to 100G, using Xtera's Nu-Wave Optima™ multi-purpose optical networking platform. The submarine cable systems were upgraded with new 100G channels to include the 1,570 km Gemini - Bermuda cable system, the 1,700 km Caribbean - US (CBUS) cable system, the 1,700 km East West Cable (EWC) system, the 1,440 km festoon Eastern Caribbean Fiber System (ECFS), and part of the 8,700 km ARCOS-1 submarine ring. "The global build-out of data centers, coupled with rapid deployment of cloud-based services, are driving renewed demand for even higher fixed and burst rate connections with emphasis on high availability through redundancy," said Paul Scott, President of C&W Networks. "Our goal is to proactively prepare our networks with the right technology to efficiently address the evolving business needs of today and the future. We are very excited to enhance our network performance to100G and 100G+ and Xtera was a natural choice for us." The same optical networking platform was used over the unrepeatered and repeatered segments, enabling a unified, seamless network from an operational perspective. For the upgrade of unrepeatered segments, advanced 100G optical channel technology combined with Xtera's Wise Raman™ solution raised the capacity to multi terabits per second level even on the longest unrepeatered segments (approaching 400 km spans). This combination of technologies also enabled C&W Networks to bypass some intermediate sites when no local add/drop of 100G waves was needed, eliminating the need for back-to-back terminal equipment as found in the previous network design based on 10G optical channel technology. "Strengthening our relationship with C&W Networks, these new upgrade projects are further evidence of the confidence network operators place in Xtera's capabilities to improve subsea optical transmission infrastructure already deployed across the world," said Jon Hopper, President and Chief Executive Officer of Xtera. "Upgrading existing subsea cable systems to increase their capacity and extend their lifetime -- from a capacity-cost perspective -- is part of our subsea solution portfolio, which includes subsea cable recovery and re-lay, and as well as new build." Story continues About C&W Networks C&W Networks is a wholly owned subsidiary of Cable & Wireless Communications and a wholesale telecommunications service provider that offers broadband, IP capacity and a growing portfolio of managed services and integrated solutions to global, regional and local telecom carriers, TV cable companies, Internet Service Providers and Network Integrators. C&W Networks operates the largest subsea multi-ring fibre-optic network throughout the greater Caribbean, Central American and Andean region along with the most comprehensive fully meshed MPLS network in the region. Reaching 42 countries, the company's fully protected ringed submarine fibre optic network spans more than 48,000km. Cable routes include the Caribbean Optical-ring System (ARCOS-1), Colombia-Florida Express (CFX-1), EC-Link cable system, Fibralink, Maya 1, Eastern Caribbean Fiber Express (ECFS), Taino-Carib, East-West, Cayman-Jamaica Fibre system, Caribbean-Bermuda U.S (CBUS), Americas II, Gemini Bermuda, Pan America (PAN-AM), Antillas 1 and Pacific Caribbean Cable System (PCCS). For more information visit: www.cwnetworks.com . 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 $2.4bn, 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 video services. It has leading market positions in Mobile, Fixed Line, Broadband and Video 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 48,000 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 7,200 employees serving over 6.3 million customers (Mobile 4.1m; Fixed Line 1.1m; Video 465k and Broadband 680k) 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, please visit: www.cwc.com . About Xtera Communications, Inc. Xtera Communications, Inc. ( NASDAQ : XCOM ) is a leading provider of high-capacity, cost-effective optical transport solutions, supporting the high growth in global demand for bandwidth. Xtera sells solutions to telecommunications service providers, content service providers, enterprises and government entities worldwide. Xtera's proprietary Wise Raman™ optical amplification technology leads to capacity and reach performance advantages over competitive products. Xtera's solutions enable cost-effective capacity to meet customers' bandwidth requirements of today and to support their increasing bandwidth demand fueled by the development of data centers and related cloud-based services. For more information, visit www.xtera.com , contact [email protected] or connect via LinkedIn , Twitter , Facebook and YouTube . View comments || Blockchain Gets A Much-Needed Stamp Of Approval: Finance firm Goldman 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's positive remarks regarding 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 ) and Citigroup 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. See more from Benzinga Can Bank Stocks Recover? Banks' Earnings Tell A Tale Of Cost Cutting Is Bank Of America Ripe For A Turnaround? © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments [Random Sample of Social Media Buzz (last 60 days)] AltisInvest : The easiest way to get Bitcoin - http://ift.tt/1KOvXQt  || Trade BTCtoUSD: Current price: 375.08$ $BTCUSD $btc #bitcoin 2016-01-31 14:00:02 EST #bitcoin #trade #tranding || Liquid Bitcoin || digitsu : The easiest way to get Bitcoin - http://ift.tt/1KOvXQt  || 1 #bitcoin 1279.61 TL, 417.647 $, 380 €, GBP, 30555.00 RUR, 47142 ¥, CNH, CAD #btc || Current #Bitcoin price: $430.155! Latest #BTC news at #LandBitcoin portal http://goo.gl/RNR1Cs  || #EuroCoin #EUC $ 0.000118 (-0.12 %) 0.00000029 BTC (0.00 %) || My robot has 2,400 hp left! I've earned a total of 28,753,634 free satoshis from http://www.robotcoingame.com/?id=59280  #robotcoingame #Bitcoin || Liquid Bitcoin || Liquid Bitcoin
Trend: no change || Prices: 411.62, 414.07, 416.44, 416.83, 417.01, 420.62, 409.55, 410.44, 413.76, 413.31
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 2021-07-02] BTC Price: 33897.05, BTC RSI: 44.84 Gold Price: 1782.60, Gold RSI: 39.28 Oil Price: 75.16, Oil RSI: 71.26 [Random Sample of News (last 60 days)] Co-creator of Dogecoin lashes out at ‘self-absorbed grifter’ Elon Musk over bitcoin stand: SpaceX owner and Tesla CEO Elon Musk arrives on the red carpet for the Axel Springer Award 2020 on December 01, 2020 in Berlin, Germany (Photo by Britta Pedersen-Pool/Getty Images) One of Dogecoin ’s co-creators labelled Elon Musk a “self-absorbed grifter” after Tesla stopped taking bitcoin for its electric cars. Jackson Palmer hit out at the billionaire entrepreneur, who has nicknamed himself The Dogefather, in a now deleted string of tweets. “Reminder: Elon Musk is and always will be a self-absorbed grifter,” tweeted Mr Palmer, an Australian who created Dogecoin in 2013 with American Billy Markus. He followed up his shot at Mr Musk with a tweet that reportedly read “removing this in 1 min as that’s all I have to say and I enjoy the quiet life.” He then took a swipe at Mr Musk’s hosting of Saturday Night Live in a third tweet that read, “ps. SNL episode was cringe, bro.” Jackson Palmer, hidden for years, steps out from the shadows executes a headshot with brutal precision and fades back in 🙌 pic.twitter.com/JWJErWmPeV — notsofast (@notsofast) May 14, 2021 The value of Dogecoin plummeted sharply after Mr Musk talked about it on the late-night comedy show and called it a “hustle” in one sketch. He helped Dogecoin recover some of tis value when he tweeted earlier this week, “Working with Doge devs to improve system transaction efficiency. Potentially promising.” The Tesla boss went on to crash the whole cryptocurrency market earlier this week when he said the company would no longer accept Bitcoin, because of environmental concerns about the way it is mined. Mr Palmer said in 2018 that creating Dogecoin was a “p*** take” to make fun of the alt-coins that were being released onto the cryptocurrency market. And he gave all his Dogecoin away to charity when he left it. “Back in the day, I had a few million Dogecoin, which was nothing. It was like five or ten grand’s worth. And I gave it all away to charities that we were supporting early on,” he previously said. Story continues “I thought … how long can it last? I was about a month into it and I thought dogecoin can last maybe a couple of months; people aren’t going to remember it anymore in a year, why would I hold onto it? So, sadly, I have no dogecoin. “Unlike most people who have created cryptocurrencies, I’m not some baller getting around in a Ferrari. “The joke is on me, firmly. That being said I feel like I’d be a bit of a hypocrite if I was like some rich crypto guy off the back of a joke that was me poking fun at crypto.” Read More The Independent visits Heathrow ahead of international travel restarting Dogecoin: Coinbase trading platform says it will add support for cryptocurrency in coming weeks ‘I made doge in like two hours’: Dogecoin creator says he ‘didn’t consider’ environmental impact || Market Wrap: DeFi Tokens Aave and Uniswap Climb While ETH and BTC Dump: Bitcoin and ether seem to be more sensitive to a fickle global stock market. But that hasn’t affected aave and uniswap and other altcoins making huge upward swings, fueled by DeFi hype. • Aave(AAVE) trading around $567 as of 21:00 UTC (4 p.m. ET). Gaining 27.7% over the previous 24 hours. • Uniswap(UNI) trading around $40.69 as of 21:00 UTC (4 p.m. ET). Gaining 7.6% over the previous 24 hours. • Ether(ETH) trading around $4,090 as of 21:00 UTC (4 p.m. ET). Gaining 0.33% over the previous 24 hours. • Ether’s 24-hour range: $3,955-$4,364 (CoinDesk 20) • Bitcoin(BTC) trading around $54,547 as of 21:00 UTC (4 p.m. ET). Losing 3.8% over the previous 24 hours. • Bitcoin’s 24-hour range: $53,700-$57,944 (CoinDesk 20) The biggest CoinDesk 20 gainers Wednesday were AAVE, jumping 27% and UNI, up 7%, as of 21:00 UTC (4:00 p.m. ET). Aave is a lending protocol while uniswap is used to exchange tokens in decentralized finance (DeFi), the sector underpinned by the Ethereum blockchain. “The crypto market is primarily focused on Ethereum and the catapulting DeFi sector right now,” said Nick Mancini, research analyst at crypto sentiment analytics platform Trade the Chain. “The narrative is completely off bitcoin and focused primarily on DeFi, Ethereum and the burgeoning altcoin market.” Related:MicroStrategy Keeps Buying Bitcoin, Adds Another $15M It’s no surprise why: As of press time Aave is up fivefold in 2021, with uniswap jumping almost sevenfold so far this year. One fundamental metric Mancini pointed to is total value locked in DeFi. The data aggregator DeFi Pulse reports TVL, which is used to gain profits in return for liquidity, has doubled within three months and is up to $86 billion as of press time. “DeFi interest is clearly one of the primary drivers behind ether’s recent price rise,” added Mancini. Ether, the second-largest cryptocurrency by market capitalization, was trading around $4,090 as of 21:00 UTC (4:00 p.m. ET), up 0.33% over the prior 24 hours. The asset is below the 10-hour moving average but above the 50-day, a sideways signal for market technicians. In the ether options market, traders aren’t convinced the asset’s bull run will continue. The probabilities for ETH price at May 21 expiration, according to Skew, have the asset at a 52% chance of being over $4,000, a 32% likelihood over $4,500 and just a 19% chance over $5,000. Related:The Intersection of Eth 2.0 Validating and Cloud Computing Explained “A small pullback seems likely,” noted Mancini on ether’s run-up. “No rally lasts forever.” Of concern to some traders is that ether’s sky-high valuation will cause fees to make the network unusable. Indeed, on Tuesday, the last day for a full dataset as of press time, Ethereum’s fees hit a high not seen since February, approaching 30,000 ETH in fees for just one day. Peter Chan, lead quant trader at OneBit Quant, is concerned that in a hot market the fees on decentralized exchanges (DEX) and even centralized exchanges (CEX) are getting out of control. This is due to the strained and overused nature of cryptocurrency networks like Ethereum, which has limited capacity. “You probably have to use a CEX instead but withdrawal fees are also skyrocketing,” Chan told CoinDesk. Read More:Ether Touches $500B Market Cap for First Time The world’s largest cryptocurrency by market capitalization, bitcoin, was down 3.8% Wednesday at press time, at $54,547. The largest cryptocurrency was below the 10-hour moving average and the 50-day, a bearish signal for market technicians. “The drop in crypto markets coinciding with an ugly close of the U.S. markets can be explained by some correlation trades leading to quick profit-taking in cryptos,” said David Lifchitz, chief investment officer, ExoAlpha. “Bitcoin is back in the middle of its ‘Twilight Zone’ of $50,000-$60,000.” Spot bitcoin volumes on major exchanges are down Wednesday, according to Skew. Today’s $1.6 billion in volume across eight major institutional exchanges is 25% lower than the average $2.1 billion the past three months. “The lengthy consolidation for the price of bitcoin seems completely ordinary for a crypto bull market,” said Sean Rooney, head of research at digital asset manager Valkyrie Investments. “In Q2 of 2017, bitcoin experienced a similar reaction as [initial coin offerings] took center stage,” added Rooney. “Many outperformed BTC to the upside throughout the summer before BTC resumed a strong uptrend in the fourth quarter.” Read More:Fairlead’s Stockton Warns of Bitcoin Correction to $42K, Based on Technical Analysis Vitalik Buterin has told dog-themed memecoin creators to bark up another tree. In a move that captivated the attention of Crypto Twitter on Wednesday, the Ethereum founder re-gifted tokens sent to hispublic walletby the creators of Shiba Inu coin (SHIB), dogelon (ELON) and Akita Inu (AKITA). Notably, Buterin donated50 trillion SHIB tokens(worth a nominal $1.2 billion at press time) to theIndia Covid Relief Fundkicked off by Polygon founder Sandeep Nailwal late last month. Digital assets on theCoinDesk 20are mostly in the red Wednesday. The notable winner as of 21:00 UTC (4:00 p.m. ET): • polkadot(DOT) + 2.5% Notable losers: • stellar(XLM) – 8.3% • yearn finance(YFI) – 6.2% • eos(EOS) – 5.8% Read More:Solana Secures $60M Fund to Drive Growth in Emerging Markets Equities: • In Japan the Nikkei 225 index closed down 1.6% as alack of support from the Bank of Japan in the market had investors concerned about the economic outlook. • Europe’s FTSE 100 ended the day up 0.86% withearnings trumping inflation concerns for traders, leading them to press the buy button on stocks. • In the United States, the S&P 500 closed in the red 2.1% asrecent inflation data proved to investors prices may be overheated, leading to the selling of stocks Wednesday. Commodities: • Oil was up 0.56%. Price per barrel of West Texas Intermediate crude: $65.83. • Gold was in the red 1.1% and at $1,817 as of press time. • Silver is falling, down 2.3% and changing hands at $26.98. Treasurys: • The 10-year U.S. Treasury bond yield climbed Wednesday to 1.695 and in the green 4.3%. Zach Seward contributed to this report. • Bitcoin Sell-Off Could Stabilize Around $42K Support • Bitcoin Makes Weak Bounce After Tesla Blow But Pullback May Not Be Over: Analyst || AutoNation, JinkoSolar, United Airlines, Southwest Airlines and Alaska Air highlighted as Zacks Bull and Bear of the Day: For Immediate Release Chicago, IL – July 1, 2021 – Zacks Equity Research Shares of AutoNation, Inc. AN as the Bull of the Day, JinkoSolar Holding Co., Ltd. JKS as the Bear of the Day. In addition, Zacks Equity Research provides analysis on United Airlines Holdings, Inc. UAL, Southwest Airlines Co. LUV and Alaska Air Group, Inc. ALK . Here is a synopsis of all five stocks: Bull of the Day: AutoNation is a Zacks Rank #1 (Strong Buy) company that is the largest automotive retailer in the United States. The company offers vehicle maintenance and repair services, vehicle parts, extended service contracts, vehicle protection products, and other aftermarket products. About the Company Auto Nation employs over 21,000 and is headquartered in Fort Lauderdale, FL. The company was founded in 1991 and at the end of 2020, operated 315 new vehicle franchises from 230 stores located primarily in metropolitan markets in the Sunbelt region. AutoNation’s business is divided into three operating segments — Domestic (33% of revenues in 2020), Import (30.4%) and Premium Luxury (36.6%). AN is valued at $7.5 billion and has a Forward PE of 9. The company holds a Zacks Style Score of “A” in Value, but “D” in Momentum. Q1 Earnings and Price Action In late April, the company reported strong earnings, seeing beats on both the top and bottom lines. Q1 came on at $2.85 v the $1.80 expected, a 55% beat above Zacks estimates. Revenues came in at $5.9B v the $5.06B expected. The company saw big year over year numbers: - New vehicle unit sales +22% y/y - Retail used vehicle unit sales +28% y/y - Wholesale Rev +21.1% y/y - Used vehicle sales +40.1% y/y - Finance and insurance +32.7% y/y While these were bounce back numbers from when COVID started to shutter things a year ago, they are impressive nonetheless. The earning beat was the ninth straight, which has helped drive the stock over 90 % higher since the beginning of 2020. Story continues Estimates Headed Higher into Earnings The earnings momentum looks to continue as we head into next quarter. Over the last 90 days, estimates are headed higher. For next quarter, estimates have gone from $1.93 to $2.37, or up 23%. For the current year, estimates have ticked 37% higher, from $7.48 to $10.15. The company will report on July 20 th , with the consensus at $2.53. This is a slight downtick from the $2.54 expected, but recent strength in the car market could bring better than expected numbers. Industry Strength Seasonality in Q2 usually means new car sales volumes are trending higher and data from earlier in the quarter showed just that, with April SAAR numbers coming in high. Pricing has alos remained very strong, especially for the used car market which saw a 62% uptick in April year over year. While production issues are bringing lower volumes, car dealers are able to sell above sticker price. This creates a negative short-term outlook that has stalled earnings estimates. However, a positive earnings number will prove Auto Nation’s ability to manage the tight supply could be a tailwind for stock in the back half of the year. The Technical Take After pulling back about 8% from 2021 highs, the stock has rallied back to the 21-day moving average. Still up 35% on the year, investors will likely hold the stock at current levels until earnings come out. If the bullish case plays out, look for the stock to pop above the 50-day at $99 and continue to all-time highs at $108. However, if the bearish scenario hits earnings and the company failed to navigate the inventory issue, look for a break down to the 200-day. Bulls should step in at that level, which is $79 In Summary Earnings on deck and investors should expect an EPS beat despite current issues with inventories. Even if the company shows difficulty with this past quarter, the future is looking bright as the auto shortfall surpasses next year. Bulls should be on the lookout for any dips or looking to buy the break back over $100 and ride the stock to all-time highs. Bear of the Day: JinkoSolar Holding is a Zacks Rank #5 (Strong Sell) that is a solar product manufacturer based in China. The company’s principal products are silicon wafers, solar cells and solar modules. After a big earnings miss late last year and sector weakness in solar, JKS had a rough start to 2021, with the stock down over 60% from highs. However, a nice earnings report last week has the stock bouncing hard. Investors are now in a better spot after the stock cleared technical resistance, but they might want to take profits as analysts don’t seem too impressed About the Company JinkoSolar is headquartered in Shangrao, China and employs over 24,000 people. The company was founded in 2006 and sells its products to distributors, project developers, and system integrators; and utility, commercial, and residential customers. JKS is valued at $2.5 billion and has a Forward PE of 55. The company holds a Zacks Style Score of “B” in both Value and Growth, but “F” in Momentum. Q1 Earnings The company reported a strong quarter, with EPS coming in 1400% above expectations. The company beat on the top line and saw margins higher. However, Jinko guided Q2 revenues and margins lower than the previous quarter. Analysts are no doubt picking up on this and lowering estimates. Estimates Over the last 7 days, all time frames have seen estimates falling lower. For the next quarter, analysts have dropped their numbers to $0.05 from $0.64, a plunge of 92%. For the next year things get a little better, but numbers are still falling 8%. Despite the guidance cut and numerous analysts dropping expectations, the stock surged, moving from $38 to almost $60. Why is the stock climbing? Part of the reason the stock shot higher was the high short interest in the name, with about 7 million shares short. This equates to about 26% of the float and when the stock started to move higher, these shorts were forced to buy. However, the main reasoning behind the move up stemmed from the company’s move to IPO in China’s STAR market. This action will raise funds and allow the company to expand its business more rapidly. It also gives them more access to capital if needed down the road. The combination of the China IPO news and the short interest caused the stock to break some important technical resistance, but the stock chart isn’t 100% bullish. Technical Take JKS is still 40% off last year's highs, but investors might run into issues around the $59 level. This is the 61.8% Fib retracement drawn from 2021 highs to lows. Typically, we see selling in these areas, even if it's only temporary. The bulls will want to either take some profits or watch a pullback to the 200-day. That area is currently at $51.50 and if it doesn’t hold, then the bears will win back control and start pointing to the fundamentals. In Summary Solar is a very volatile sector and investors should look to take profits when they get big moves. When you throw a Chinese solar company into the equation, it amplifies the volatility, so investors should be extra cautious with Jinko. Additional content: 3 Airline Stocks to Watch in 2H as Air Travel Brightens The coronavirus pandemic, which was aptly described in April 2020 as the “the worst financial crisis in aviation history" by United Airlines ’ former CEO Oscar Munoz, caused an untold misery to airlines last year. With air-travel demand touching a nadir, most airline companies incurred losses in each of the four quarters of 2020. Reflecting the hardships, the Zacks Airline industry declined 26.4% last year. However, the industry participants’ fortunes changed with the advent of 2021. Wide-spread vaccinations instilled confidence in people to fly once again without the fear of contracting the infection from a fellow-traveler. As a result of the uptick in air-travel demand (particularly for leisure), carriers are seeing a swell in passenger count despite the coronavirus-led travel restrictions, per a  Reuters report. Moreover, in the United States, the Transportation Security Administration screened more than two million people in not less than 10 days during June (considering the data until Jun 29). In fact, TSA screened 2,167,380 people last Sunday i.e. Jun 27, 2021. This was the highest reading taken since Mar 5, 2020. Betterment of the scenario is well-reflected in the Zacks Airline industry’s growth of 6.9% year to date. Air Traffic Likely to Continue Northward Movement in 2H While the weakness pertaining to business travel is unlikely to disappear soon, overall air-travel demand is likely to continue improving in the second half of 2021, driven by leisure travel. The fact that the expectation of a recovery is not only restricted to the United States is clear from the fact the European carrier Ryanair's recent addition of 200,000 seats on flights from the United Kingdom to Malta and the Balearics (Ibiza and Palma) for July, August and September. This follows the U.K. government’s decision to include these islands on the green list for travel that allows flyers to visit these sites without having to quarantine (provided they are declared COVID negative) themselves on their return. The relaxation is effective today. Riding on such an improved scenario, Gol’s outlook for the second half of 2021 seems rosy. The carrier, currently carrying a Zacks Rank #3 (Hold), expects net operating revenues for the latter half to be approximately R$6 billion, much higher than the second-quarter estimate of roughly R$1 billion. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here . Moreover, like the first half of the year, the focus on the cargo segment should continue to serve airlines well in the latter half of the year too. The above write-up clearly suggests that things are on the mend as far as airlines are concerned and the second half of the year should see this momentum to continue on the back of improvements witnessed in the first half of the year. We therefore highlighted three airline stocks, each presently carrying a Zacks Rank of 3, that investors should keep tabs on. Our Choices United Airlines: In response to a better air-travel demand, United Airlines plans to add in excess of 400 daily flights to its July schedule. The airline expects to operate 80% of its pre-pandemic U.S. schedule in the month as summer travel bookings soar 214% from the 2020 levels. The company’s cost-control initiatives are supporting its bottom line. Owing to an improved air-travel demand scenario, the Zacks Consensus Estimate for 2021 is currently pegged at a loss of $14.15 per share, narrower than the loss of $14.26 estimated for the stock 60 days ago. Southwest Airlines : Restoration of leisure-travel demand is a huge plus for this Dallas-based carrier. To meet the anticipated demand upturn in the latter half of the year, Southwest Airlines recently announced a pay hike for its hourly employees. The impending increment, which will be effective Aug 1, is aimed at retaining its existing employees as well as attracting new personnel. Owing to bloated bookings, aided by an upswing in air-travel demand, the Zacks Consensus Estimate for 2021 is currently pegged at a loss of $1.29 per share, narrower than the loss of $1.47 estimated for the stock 60 days ago. Alaska Air Group : With air-travel demand rising, Alaska Airlines is constantly looking to add routes and widen its network to meet the anticipated demand swell. This upbeat scenario led to a healthy cash flow from the company’s operations. Boosted by higher bookings, attributable to a spike in air-travel demand, the Zacks Consensus Estimate for 2021 currently stands at a loss of $2.50 per share, narrower than the loss of $2.86 expected for the stock in the past 60 days. Notably, shares of United Airlines, Southwest Airlines and Alaska Air have rallied 20.5%, 13.5% and 15.6%, respectively, so far this 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 >> Media Contact Zacks Investment Research 800-767-3771 ext. 9339 [email protected] https://www.zacks.com Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer. 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 JinkoSolar Holding Company Limited (JKS) : Free Stock Analysis Report United Airlines Holdings Inc (UAL) : Free Stock Analysis Report Southwest Airlines Co. (LUV) : Free Stock Analysis Report AutoNation, Inc. (AN) : Free Stock Analysis Report Alaska Air Group, Inc. (ALK) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research || Daily Crunch: Snap spends more than $500M to acquire AR display startup WaveOptics: To get a roundup of TechCrunch’s biggest and most important stories delivered to your inbox every day at 3 p.m. PDT, subscribe here . Welcome to Daily Crunch for May 21, 2021. Closing out the week, bitcoin dropped sharply today on (more?) news from China about possible restrictions on cryptocurrencies more broadly. Depending on your priors, the most recent news is purely FUD, or it’s indication that Bitcoin and friends are terrible inflation hedges. Pick your poison! Regardless, we have a grip of startup news to get to, so off we go! -- Alex The TechCrunch Top 3 Snap spends a half billion on AR: Yesterday’s news from consumer photo giant Snap didn’t stop with the company plunking down $500 million for WaveOptics , which we reported “makes the waveguides and projectors used in AR glasses.” That sure sounds like Snap gearing up for eventual mass production? Right? Startups heart farming: TechCrunch covered a huge $65.5 million Series B for Indonesian startup TaniHub Group today. Part of what it does is loan capital to farmers ahead of their harvests. In related news, ProducePay raised $43 million earlier this week to do something similar in Latin America. There’s notable startup activity, then, at the intersection of agtech and fintech. Mobile gaming is bigger than you thought: Did you know that former gaming darling Zynga is in the midst of a comeback? Mobile gaming, its core focus, had a huge 2020, leading to the company posting record Q1 results. Riding the same way is Jam City, another mobile gaming shop is going public. More here . Startups and VC To round out the week, how about a few smaller venture capital rounds? We have a number from today that are well worth our time: Secai Marche raises $1.4M for farm-to-table food distribution : We don’t cover enough Japanese startups, frankly, but here’s to doing better. Tokyo-based Secai Marche is building a B2B “logistics platform for farmers that sell to restaurants, hotels and other” food and beverage companies, and we think it’s neat. Rakuten and Beyond Next supplied the capital. Story continues Mio raises $1M to bring social commerce to rural Vietnam : Quickly growing e-commerce market Vietnam is seeing rising penetration in major cities. Mio wants to bring e-commerce to smaller cities and rural areas. Per our reporting, it is “building a reseller network and logistics infrastructure that can offer next-day delivery to Tier 2 and 3 cities.” Our present may be someone else’s future, so it’s swell to see startups bring the latest to more folks. To round out our round coverage today, a slightly larger deal for a mental-health focused service: Wysa raises $5.5M for AI-powered mental health : This is at a minimum cool on paper. We’ll have to get some time with the service as it evolves through time, but TechCrunch reports that “Jo Aggarwal, the founder and CEO of Wysa, is hoping you’ll find it easier to confide in a robot. Or, put more specifically, "‘emotionally intelligent’ artificial intelligence.” I, for one, welcome our robot mental-health overlords. Jokes aside, there is a therapist shortage in the world, and if Wysa can help more folks handle their mental health better, we’re all for it. 5 predictions for the future of e-commerce The United States is one of the world's most advanced economies, but until quite recently, South Korea and China had much higher e-commerce penetration. American consumers and companies are closing that gap. In 2016, the percentage of total retail spend where the goods were bought and sold online in the U.S. was about 8%. Today, that figure is closer to 17%. Despite the last two decades of disruption, we're still in the early days of e-commerce. But as more merchants of every size start making their goods and services available online, we've reached an inflection point. In an exclusive report for Extra Crunch, Ethan Choi, a partner at Accel, offers five well-researched predictions about where e-commerce is heading in terms of D2C and the overall enablement landscape. "We’re entering what we at Accel believe is 'the golden age of D2C e-commerce,'" says Choi. 5 predictions for the future of e-commerce (Extra Crunch is our membership program, which helps founders and startup teams get ahead. You can sign up here .) Big Tech Inc. Today we have to stretch the Big Tech portion of this newsletter to include entities even larger than the largest technology companies, namely governments. The Indian government is mad at tech companies yet again. This time it’s Twitter’s turn. Per TechCrunch , New Delhi “has expressed strong objection to Twitter for classifying tweets by Indian politicians as ‘manipulated media,’ and separately asked social media firms to remove posts that refer to an ‘Indian variant’ of the coronavirus.” A few thoughts here: One, Twitter is going to have to navigate an increasingly complicated global climate for free speech in general. And figure out how to handle governments' reactions to its decisions on labeling content. That’s going to be hard. And asking a social service to blanket-ban a particular phrase is going to be essentially impossible. After all, even in China, where banned phrases on social media are common, individuals have found myriad ways around the restrictions . So, good luck, Indian government. On a related note, if you are interested in privacy more generally, what’s going on in the European Union regarding data protection is fascinating . Moving back to the world of corporate news, Spotify is finally bringing offline listening to the Apple Watch . For runners, this is big news. Our own Brian Heater is hype about the update. To close us out today, the Equity podcast team has thoughts on the growth in corporate “media” and what it means for unicorns and other large technology companies. Community Two quick things heading into the weekend: Ford’s new electric truck looks cool, but you, our readers, are hodling out for Tesla’s Cyber Truck . If you’re a founder of a startup of any stage and want to try your pitch out on some really cool investors … then Extra Crunch Live is the place to go. Check out this week’s pitch by Capri Money . From the audience to the stage, just like that! See you there next week. TechCrunch Experts: Email Marketing Intellect illustration Image Credits: Getty Images We’re thrilled with the responses to our survey about the top email marketers. It’s not too late to weigh in: Fill out the survey here. In addition to giving founders who respond to the survey a discount to a new Extra Crunch subscription, we'll be featuring a couple of nominations in Daily Crunch starting next week! If you’re a growth marketer, pass the survey on to your clients -- we’d love to hear from them! To find out more details about this project and how we plan to use it to shape our editorial coverage, visit techcrunch.com/experts . TC Eventful The Extra Crunch Live party carries on into June, with new episodes connecting you with some of tech’s biggest names. Check out the top-notch founders and investors joining us on Extra Crunch Live in June || Bitcoin Meets Resistance at $35K, Support at $30K: Bitcoin (BTC) is trading lower after a brief 5% bounce on Sunday. The cryptocurrency stalled at around $35,000 resistance and could find support at $30,000, which is the bottom of a monthlong trading range. • The relative strength index (RSI) on the four-hour chart is declining near overbought territory. That is similar to last week, which preceded a nearly 15% price drop. • Buyers were able to defend $30,000 support last week, registering a higher low from the June 22 shakeout. This means sideways trading could persist until a decisive breakout above $40,000 or breakdown below $30,000 occurs. • Bitcoin is still in relief mode following the May sell-off and is up about 7% over the past week, although upside appears to be limited below $40,000 given the intermediate-term downtrend. • Market Wrap: Cryptocurrencies Rise Despite Binance UK Warning • Bitcoin Mining Hashrate Drops to 1-Year Low; Difficulty Set for 25% Decrease • El Salvador Wants to Attract Bitcoin Talent. Its Strategy Is Working • Ethereum Investment Funds Saw Record Outflows of $50M || 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. More From GOBankingRates • Small Businesses That You Can Do in Retirement • Quick and Easy Ways To Support Small Businesses Today • Small Businesses That Celebrities Love • 27 Things You Should Never Do With Your Money Last updated: June 29, 2021 This article originally appeared onGOBankingRates.com:Is the Shiba Inu Coin the Cryptocurrency You Should Be Watching? || TokenSociety.io Hosts It's Launch Party During BTC Miami With Celebrity Guests And Crypto Power Players: NEW YORK, NY / ACCESSWIRE / June 10, 2021 /If you were in Miami this past weekend, the conversation was all about cryptos, NFTs, and the TokenSociety.io launch party. On Saturday night, over 200 Crypto-power players, artists, celebrities, and entrepreneurs packed Miami's new hot-spot, Le Rouge Lounge, to celebrate the upcoming launch the new NFT platform, TokenSociety.io, and to preview upcoming NFT series' to be hosted on the platform including 'Crypto Junkies' by Kolodny; 'Curiosity Kills' by Someone; Inter-dimensional Love by Eddy Bogaert; 'War on Viruses' by Ron King; 'Daily Comics' by Asante Malik, and 'Somebody's Watching Me' by Tima Marso. Aside from digital assets, soon to be auctioned - Real World Asset NFTs including the jersey worn by Cuba Gooding Jr. in the film Jerry Maguire and a rare Whiskey set from the Irish Craft Whiskey Company which includes a one of a kind Faberge Egg were on display. In attendance, TokenSociety.io co-founders Scott H. Weissman and Allen P. Lu, Tether founder Craig Sellars, actor and director Cuba Gooding Jr, artists Shawn Kolodny and and Eddy Bogaert models Zoe Whelan and Anastasiya Kvitko danced all night to guest sets from Diplo and Dj. Ruckus. To find out more about the Token Society, check out their websitehereand their instagram pagehere. CONTACT: Paula [email protected] SOURCE:Token Society View source version on accesswire.com:https://www.accesswire.com/651272/TokenSocietyio-Hosts-Its-Launch-Party-During-BTC-Miami-With-Celebrity-Guests-And-Crypto-Power-Players || BTC, ETH, XRP, ZEC, TFUEL, YFI, QTUM—Technical Analysis June 10: Bitcoin (BTC) created a bullish engulfing candlestick on June 9. Ethereum (ETH) is trading inside a symmetrical triangle. XRP (XRP) and Yearn.Finance (YFI) are following descending resistance lines. Zcash (ZEC) has reclaimed the $120 support area. Theta Fuel (TFUEL) reached a new all-time high price on June 9. Qtum (QTUM) has bounced at the $8.40 support area. BTC BTC has been increasing since rebounding on June 9. Similar to May 19 and 23, it created a long lower wick. The next day, it created a bullish engulfing candlestick and has been moving upwards since. However, technical indicators are providing mixed signs. The RSI followed up a bullish divergence (blue) with a hidden bearish divergence (red) and is still below 50. Nevertheless, the Stochastic oscillator has just made a bullish cross. The next resistance levels are found at $41,400, $44,900, and $48,400. While the exact wave count is not clear, both the bearish and bullish counts suggest a short-term increase towards the first resistance area will follow. BTC Chart By TradingView ETH ETH has been increasing since bouncing at the $2,050 support on May 19. So far, it’s reached a local high of $2,910. Since May 20, ETH appears to be trading inside a symmetrical triangle, which is often considered a neutral pattern. Furthermore, both the RSI and MACD are neutral. The former has crossed above and below 50 while the latter is at the 0-line. The decrease from the all-time highs looks like a five-wave structure. A breakout that travels the entire height of the triangle could take ETH to $3,806. This is the 0.786 Fib retracement resistance level. ETH Chart By TradingView XRP XRP has been increasing since May 23 after it reached a local low of $0.65 and bounced. So far, it has reached a high of $1.07 on May 26. It has been decreasing alongside a descending resistance line since. XRP bounced at the 0.618 Fib retracement support level on June 8. Relative to the movement on May 29, it has created a double bottom pattern. Currently, XRP is making an attempt at breaking out from the resistance line. Story continues If successful, it would likely revisit the $1.05 area once more. XRP Chart By TradingView ZEC On May 19, ZEC bounced after reaching a low of $105 and reclaimed the $120 support area shortly after. Currently, it’s in the process of validating the area as support once again. If successful, it would also create a higher low in the process. Furthermore, technical indicators in the daily time frame are providing bullish signs, such as the bullish cross in the Stochastic oscillator. In addition, the MACD histogram is moving upwards. The next closest resistance area is found at $197. ZEC Chart By TradingView TFUEL On June 1, TFUEL broke out from a descending parallel channel. It continued to increase until it reached a new all-time high price of $0.679 on June 9. It created a shooting star candlestick the same day. As outlined previously, this was a potential target for the top of the upward move. If it extends, the next most likely target is found at $1.02. Technical indicators are bullish, even though they are showing slightly overbought conditions. TFUEL Chart By TradingView YFI YFI has been increasing since bouncing on May 23. The increase took it to $51,963 the next day. However, this only served to validate a descending resistance line, which has been in place since May 19. Since then, the resistance line has rejected YFI three more times. Furthermore, it’s possible that YFI is trading inside a descending triangle, which is normally considered a bearish reversal pattern. A breakdown from the triangle could take YFI back to the $29,950 support area, while a breakout could take it towards the $51,840 area. YFI Chart By TradingView QTUM On May 23, QTUM reached a low of $6.37 and bounced. Currently, it’s in the process of validating the $8.40 area as support once again (green icons) and is creating a higher low in the process. If successful, the next closest resistance area would be at $17.55. This is the 0.382 Fib retracement resistance level. QTUM Chart By TradingView For BeInCrypto’s latest bitcoin (BTC) analysis, click here. || Users Decide Bitcoin’s Consensus. But What Is a Bitcoin ‘User’?: “If users decide Bitcoin’s consensus, what is a Bitcoin user?” This was one of the principal questions that arose from the Bitcoin Core “Foundations” panel this Wednesday atConsensus 2021. Moderated by Bitcoin Magazine’s technical editor Aaron Van Wirdum, veteran Bitcoin developers Adam Back, Matt Corallo, Olaoluwa Osuntokun, Rusty Russell and Eric Voskuil discussed the best ways to introduce and implement upgrades into Bitcoin. The topic is particularly salient given thatTaproot, Bitcoin’s biggest upgrade sinceSegWit, is in the middle of activating right now. Related:Binance Says ‘Rollback’ Not Possible After DeFi Exploits on Binance Smart Chain As Van Wirdum put it on the livestream, “Taproot has broad consensus,” but there were months of controversy from Bitcoin stakeholders over how to bring the upgrade live. Unlike a centralized system, Bitcoin’s decentralized network requires communal cooperation to successfully activate an upgrade. An upgrade is essentially a rule-change, so it’s important to make sure everyone running Bitcoin’s code is using the same rules or else there may be a “chain split” that produces two incompatible transaction histories. Bitcoin developers make upgrades “backwards compatible” to avoid this scenario (i.e., newer and older versions can still have enough of the same rules to not result in a split). Still, Bitcoin is a roughly $1 trillion asset now, so Taproot’s activation discussion, which culminated in theSpeedy Trialactivation method underway now, was slow and steady. Square Crypto Bitcoin Engineer Matt Corallo explained that, generally, there are two paths to upgrades: enforcing rules through node operators or enforcing rules through hashrate via miners. (In the case of Taproot, Speedy Trial is a crack at the latter.) Thedisagreementover how to activate Taproot was fought over whether or not it should be up to users to dictate upgrades or whether it’s all right to default to miner activation. Related:Consensus 2021: 7 Questions for Bitcoin Anarchist Eric Voskuil This dichotomy is complicated by the fact that, as Bitcoin developer and “Cryptoeconomics: Fundamental Properties of Bitcoin” author Eric Voskuil put it, miners are users too. Lightning Labs CTO Osuntokun highlighted the vagaries of the term “user” when using it to define consensus of Bitcoin’s community. Are users holders, spenders, code users? “I think one critical thing is that people don’t really define what you mean by user,” he mused. Voskuil, Back and Russell all reinforced the points that, from a protocol consensus perspective, only those running and using a Bitcoin node to verify their economic activity are true users (so-called “economic nodes”), given that they can choose which ruleset they choose to enforce. This voting power was crucial in tipping the scales in favor of SegWit, panelists said. “It’s the people who are validating the Bitcoin that they’re receiving who are actually enforcing the rules,” Voskuil said. Further, since it’s users who enforce the rules, miners don’t control Bitcoin, Back emphasized. “There’s quite a lot of confusion about miners deciding things and essentially miners have no say. They have a say in the sense of being a Bitcoin user or having usable Bitcoin protocols, but as a miner, they don’t have any special say,” Back said. As such, Russell noted, “Miners also users. Miners are also very economic actors. Miners can also be developers,” – a reminder that identifiers like “user” and “miner” are limiting and can ignore that oftentimes Bitcoin’s network participants wear many hats. So it’s important to not paint “users” and “miners” with such a broad brush, Voskuil said at the end of the panel, less so to pit them against each other. After all, miners are often treated as having more authority than they do, while economic actors running nodes (those real “users” the panelists talked about) have more power than they are usually given credit for. “I call this the kind of David and Goliath fallacy, said Voskuil. “There are the users, or the little guy, and the miners are the big guy. I think it’s not a good precedent, and it’s not good thinking either. You’ve really got Goliath versus Goliath if you’re going to pair those two off against each other.” Updated May 26, 2021 19:28: Article updated to clarify that the panelists said that only active node users, so-called “economic nodes,” have a say in protocol consensus. • Consensus Day 3, Recapped: The Battle Over Electronic Money • DBS Bank CEO: We Have Twice as Many Engineers as Bankers || Asset Manager One River Files for Carbon-Neutral Bitcoin ETF in US: One River Digital Asset Management has filed with the U.S. Securities and Exchange Commission (SEC) for a bitcoin exchange-traded fund (ETF) that would be carbon neutral. According to the S-1 filing , submitted on Monday, the One River Carbon Neutral Bitcoin Trust would be listed on the New York Stock Exchange and would buy and dispose of carbon credits to account for the emissions associated with the bitcoin in the fund. To that end, One River says it has inked a deal with a Uruguay-based firm doing business as Moss Earth to purchase blockchain tokens representing certified reductions in carbon emissions. Each of the MCO2 tokens is aimed to represent a claim on a certified carbon credit held in a pool of carbon credits held by Moss Earth on a registry with Verra. No ticker has been announced for the ETF so far, which has been registered as a Delaware statutory trust since April 27. The trust will not purchase or sell bitcoin directly, per the filing, and instead, will use third parties to provide the digital assets through “in-kind” transactions via the selling and redeeming of shares. Coinbase Custody has partnered as the custodian for the ETF’s bitcoin assets. Former SEC Chair Jay Clayton is an adviser at One River, having joined the firm’s Academic and Regulatory Advisory Council in March 2021. The proposed bitcoin ETF – which looks aimed to appease investors’ anxiety about the carbon emissions associated with bitcoin mining – joins a deep bench of ETF proposals before the SEC, including one from VanEck . Also read: SEC Staff Calls Bitcoin ‘Highly Speculative,’ Hints at ETF Skepticism Related Stories VanEck, Waiting for Verdict on Bitcoin ETF, Starts Taking Private Crypto Bets SEC Staff Calls Bitcoin ‘Highly Speculative,’ Hints at ETF Skepticism Bloomberg Analyst ‘Optimistic’ on US Bitcoin ETF This Year Cboe Kicks Fidelity-Linked Bitcoin ETF Application to SEC [Random Sample of Social Media Buzz (last 60 days)] None available.
Trend: down || Prices: 34668.55, 35287.78, 33746.00, 34235.20, 33855.33, 32877.37, 33798.01, 33520.52, 34240.19, 33155.85
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 2015-11-27] BTC Price: 358.04, BTC RSI: 60.75 Gold Price: 1056.20, Gold RSI: 27.44 Oil Price: 41.71, Oil RSI: 42.97 [Random Sample of News (last 60 days)] Bitcoin is back, JPMorgan and Wells Fargo restrict data: U.S. stocks (^GSPC,^DJI,^IXIC) are lower for the second straight day. Is the autumn rally at risk here?  Either way the next big catalyst for the market could come as early as 8:30am ET Friday when the October jobs report is released. Get the Latest Market Data and News with the Yahoo Finance App In the meantime, here are some other stories Yahoo Finance is keeping an eye on today. Big banks vs. personal finance websitesJPMorgan (JPM) and Wells Fargo (WFC) seem to be restricting some customer data from flowing to third party websites and apps likeMint.com. The products are used by many to help track their finances. JPMorgan chief Jamie Dimon has made his concerns known, pointing out that these products require customers to hand over a lot of personal information. Bitcoin is making a comebackBitcoin is making a comeback. The price of the digital currency has surged more than 50% this week, partly fueled by the EU's classification of bitcoin as a currency and not a commodity. Can it avoid another big sell-off? Turning point for streaming musicAdele's new single "Hello" has already brought in record sales, with over a million downloads. Now the big question is whether she will release her full album on streaming platforms. With the scheduled debut of her album "25" in two weeks, services including Apple Music (AAPL) and Spotify are still waiting to find out if they can play the rest of her new songs. || No one seems to want to be New York’s top banking regulator: New York Governor Andrew Cuomo addresses the media before participating as an honorary grand marshall in the West Indian Day Parade in Brooklyn, New York September 7, 2015. REUTERS/Andrew Kelly (Thomson Reuters) New York Governor Andrew Cuomo addresses the media before participating as an honorary grand marshall in the West Indian Day Parade in Brooklyn, New York The regime change at the New York Department of Financial Services is far from over. Acting DFS superintendent Anthony Albanese is quitting , according to a report from The Wall Street Journal. His departure comes as New York Governor Andrew Cuomo's search to replace Benjamin Lawsky drags on. Lawsky quit earlier this year , relinquishing his role to Albanese temporarily. The Journal report says Cuomo’s staff has sought to exert more control over DFS in the months since Lawsky departed. Albanese downplayed that speaking with the Journal, saying his role and tenure “was always intended to be a temporary position to help smooth the transition process.” With his exit, and no new superintendent known, it’s not clear how the transition process is working. Throughout Lawsky's tenure as head of DFS, he aggressively pursued cases on Wall Street and earned a reputation for cracking down on illegal behavior. By the time Lawsky left, the DFS had issued a staggering $6 billion in fines to financial services firms over a four-year span. Business Insider reached out to the governor's office and to the DFS; neither provided comment by publication time. NOW WATCH: The CEO who raised the price of a life-saving pill by 5000% has totally caved More From Business Insider New York Just Released Its Bitcoin License, And They're Going To Change The Face Of Digital Currencies In The US Wall Street will be surprised to hear what New York's ex-banking regulator just said about regulators Former NY financial watchdog counters criticism on bitcoin work || Your Old Credit Card’s Now Obsolete. Now What?: (Rob Pegoraro/Yahoo Tech) Something weird has been happening to our wallets: Computers have invaded them, one credit card at a time. This overdue migration from cards with magnetic stripes on the back to “EMV” cards that add a tiny computer chip on the front reached a semi-important point Thursday: the “liability shift,” a rebalancing of powers between card issuers and merchants in the U.S. that may change who eats the cost of a bogus transaction. For most of us, Liability Shift Day should be the most boring holiday ever. Only a minority of debit and credit cards have EMV chips (“EMV” stands for“Europay, MasterCard and Visa,” the three parents of the system), and the share ofretailers taking chip paymentsis even smaller. But over time, things will change. Here’s how: How exactly do I pay with a chip? Instead of swiping a card with that satisfying flick of the wrist, you pop the card into a slot in a card terminal. Then you leave it there as the chip generates a one-time code (like the three- or four-digit number on your card for online purchases), the terminal processes the transaction, and you sign to complete it. In my experience, that takes a few seconds longer than a mag-stripe card—assuming the stripe was able to read on the first try, which we all know doesn’t always happen. Where can I pay with the chip? Your chip transactions may be confined to major merchants like Walmart, Home Depot, and Target. It’s not enough to see a “point of sale” terminal with an EMV slot; that part may be inactive. For example, my neighborhood’s Whole Foods accepts Apple Pay and other phone payments but not EMV. Spokesman Michael Silverman said the chain plans to fix that across its stores… by the end of 2016. A complete upgrade across U.S. retail will take longer. On a conference call Wednesday, Visa vice president Stephanie Ericksen said 314,000 establishments take chip payments, up from 55,000 last September—but that’s out of a total of maybe 6 million to 8 million. How do I get EMV versions of my cards? If you haven’t already been issued chipped versions of your cards—those in my wallet reached that blessed statein July—you’ll have to ask your issuer what the holdup is. While you wait, you might as well use that time to shop around and see if you can switch to a card withbetter cash-back or travel rewards. Will chip cards stop data breaches? Sorry, no. With EMV, your card number and expiration date still get sent in the clear to the store and beyond. If somebody hacks the terminal or the software upstream, they can still go to town with your card. “It does not take care of making sure that the data is protected as it travels through the various layers of payment systems,” explained Erik Vlugt, a vice president at the payment-processing firmVeriFone. EMV cards also remain usable if lost or stolen unless they’re further secured with a PIN. That’s common with European but not U.S. cards. (More on that later.) So what security problem does EMV actually solve? Chip cards can’t be cloned the way stripe cards can. Counterfeiting is a huge problem, accounting for37 percent of all U.S. credit-card fraud in 2014—second only after “card not present” theft staged online or over the phone, according to the research firmAite Group. Crooks have had a clear economic incentive to clone cards, security researcher Brian Krebs noted ina 2014 explainer: A counterfeiter “walks into a big box store and walks out with high-priced electronics or gift cards that he can easily turn into cash.” Who pays with the liability shift? Definitely not you — just like today, fraud isn’t your problem as long as you report it. But merchants can pay more, subject to various rules. AsNational Retail Federationgeneral counsel Mallory Duncan summed up in an e-mail: “Whomever has the more evolved equipment (in a counterfeit situation) wins.” That is, if the bank issued a chip card, the crook shows up with a counterfeit version of it, and the merchant doesn’t process chip transactions, the merchant is liable to eat the cost. But it can get complicated: “There are scenarios where both parties accept a certain percentage of the responsibility,” MasterCard product-delivery head Carolyn Balfany said over e-mail. Note, too, that retailers already pay for some fraudulent transactions, as you can see inVisa’s “chargeback” rules. In turn, all of us pay in the form of slightly higher prices, same as we collectively pay for the“shrinkage”of shoplifting and employee theft. What if a store doesn’t take EMV? Good luck judging a store’s security, although some modern payment gadgets likeSquare’s card readersdo encrypt card numbers automatically. If you can use your phone to pay for things, do it. Apple Pay and Android Pay do“tokenization,”meaning they generate a new card number for each transaction. Or you could pay with cash,Bitcoin,bartered chickens, or any other mutually agreeable medium of value. What about chip-and-PIN? You may have read that chip-and-PIN cards are more secure because you have to type a number matching the one stored on the chip. But that’s not why they exist: When EMV cards arrived in Europe, many establishments didn’t have online access to verify transactions with issuers and so needed authentication that worked offline. U.S. banks have avoided PIN because, hey, who wants to remember another number? (A few months ago, Underwriters Laboratories innovations director Maarten Bron said he’d seentoo many chip-and-PIN holders write down their PIN on the back of their cards.) International travelers have complained that signature EMV cards don’t work at kiosks in Europe. Visa’s rules now require those unattended terminals to waive the PIN; it says that in a recent test across five EU states,90 percent of signature-card transactions worked. So how do we stop online fraud? Payment-processing systems can ensure they have nothing worth stealing by not keeping card numbers intact—what Visa calls “devaluing” that data. In that respect, the slow adoption of EMV security could give lagging merchants a chance to jump to an Apple Pay level of security. SaidPCI Security Standards Councilchief technology office Troy Leach: “We’re hoping that they buy the next generation of security, which is encryption and tokenization.” I hope he’s right. But I won’t be too surprised if five years from now, a shop with connectivity issues still has to dust off a“knuckle buster”card imprinter to take my payment on a slip of carbon paper. [email protected]; follow him on Twitter at@robpegoraro. || Caribbean Students to Benefit From Flow, One-on-One Education Partnership: MIAMI, FL--(Marketwired - Oct 21, 2015) - Cable & Wireless, operator of the Flow and LIME brands, has signed a landmark five-year exclusive partnership with One on One Education Services aimed at offering Caribbean students greater access to a wide variety of study materials for GSAT, CSEC and CAPE examinations. One on One Education Services will provide a variety of educational materials including video tutorials for full online courses, video lectures, and past paper solutions, as well as other examination preparation materials such as notes, question and solutions banks. This education programme will also include a Digital Encyclopaedia, Virtual Labs -- a unique visual and interactive way of learning. As part of this partnership, Flow customers will receive the basic education package at no additional cost with their Broadband service and will be able to upgrade at exclusively discounted prices. The education content will be available seamlessly across a Flow Study website, exclusive Flow Study apps, as well on the Flow Video On Demand TV platform. "This is yet another demonstration of our commitment to technology investment for the development of the region," said John Reid, President of C&W Consumer Group. "Through initiatives such as One on One we have a tremendous opportunity to provide our customers with access to high quality education tools across multiple platforms that would have otherwise been costly and unattainable," he added. Reid also said, "We went through a vigorous process to determine which provider had the best overall education solution in the region. Our quest led us to One on One, and we are truly delighted to be able to deliver the best to our customers." Ricardo D. Allen, President & CEO of One on One Educational Services, also noted, "We are very excited about this partnership with Cable & Wireless/Flow. This will propel our education programme to new heights, new markets and provide access that was considered unattainable." Allen further explained that in just a few years, his Company has enabled over 2,000 students in Jamaica alone, to enhance their performance at the CSEC/CAPE examination. He stated that several students have gained scholarships and grants toward their tertiary education. Allen added, "Our vision has always been to expand our business model through enabling greater access to our products as well as to continue in our effort to create even more online learning content which we will be doing through this deal. Cable & Wireless Communications is the market leader in the Caribbean for the provision of mobile, broadband and TV and therefore this deal fits nicely into our strategic objective to educate students anywhere, at any time. Through this deal, in addition to Internet access, students will be able to prepare for their exam from the comfort of their living room, on their TV, or on-the-go via Flow's mobile platform. The partnership is expected to continue the efforts of past initiatives of One on One to reduce the cost of education and increase the participation rate of children, and adults in learning. "Our objective is to have everyone learning something; now it's GSAT, CSEC & CAPE and tomorrow it may well be CPA, ACCA & CFA. Wherever there is learning, Flow & One on One will be your partner," Allen stated. About C&W CommunicationsCable & Wireless Communications Plc (CWC) is a full service communications and entertainment provider, operating in the Caribbean and Latin America. With annual sales of over US$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, C&W 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, C&W 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 48,000 km -- the most extensive in the region -- as well as 38,000 km of terrestrial fibre providing wholesale and carrier backhaul capacity and a growing suite of wholesale managed services. C&W has more than 7,500 employees serving over 6 million customers (Mobile 3.8m; Fixed Line 1.1m; Video 460k and Broadband 665k) as well as over 125k corporate clients and 225 wholesale customers 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. C&W 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:www.cwc.com. || Bitcoin spikes 70% in a month; nobody knows why: Bitcoin(:BTC=), the world's most popular digital currency, has been on a roll — but no one is really sure why. After dipping well below $200 in January, bitcoin traded at more than $410 Tuesday afternoon before cutting some of those gains, according to the CoinDesk Bitcoin Price Index. That's about 25 percent higher than the same time last year but well below the historical high of about $1,150. This upswing, which began about a month ago when bitcoin traded below $240, comes on the heels of a steady stream of good news for the digital asset and its associated ecosystem. But even with recent favorable regulatory rulings, press coverage and business investments, experts in the space are struggling to explain the one-month jump of more than 70 percent. For comparison, gold(CEC:Commodities Exchange Centre: @GC.1)is down about 5 percent on the year, and slightly negative on the month. Some have attributed the size of the recent jump toinvestors' fear of missing out (FOMO), while others such as "Fast Money" trader Brian Kelly point to ecosystem headlines like theWinklevoss twins launching their exchangeand the Digital Currency Groupannouncing fundingfrom Bain and MasterCard(MA). But bitcoin has boasted a steady parade of media highlights and major investments from important financial firms all year, so it's not immediately obvious why this past month would mark a turning point. Read MoreWhy financial firms are investigating bitcoin tech Brendan O'Connor, the CEO of bitcoin trading firm Genesis Global Trading, told CNBC he has no easy answers about the price jump. Although he said rumors were flying around the community about international rings of traders teaming up to drive up the exchange rate, O'Connor was unable to confirm anything he'd heard. For its part, Genesis Global is experiencing a "dramatic increase in activity" from renewed interest in bitcoin as a tradable asset, O'Connor said. "When the price starts going up, people start coming out of the woodwork," he said. "We're setting new records almost on a daily basis for amount traded and number of transactions." Read MoreBitcoin to be 6th largest reserve currency by 2030: Research It should be noted that bitcoin is a relatively illiquid market, so its exchange rate against major world currencies has been historically volatile. Still, O'Connor said volume from the Chinese bitcoin market has been "off the charts," so there may be a genuine upswing in interest from that region. In fact, Kelly suggested in a Tuesday note that Beijing's tightening of capital controls may have spurred some of the recent price gains. Additionally, many in the bitcoin community insist that the daily price of the cryptocurrency is not a relevant metric, as it distracts from the world-changing potential of the technology. Others worry that the cycle of mainstream media coverage on bitcoin's price will recreate a story they've seen before: More From CNBC • Top News and Analysis • Latest News Video • Personal Finance || What to Expect from Overstock.com's (OSTK) Q3 Earnings?: Overstock.com Inc. OSTK is expected to report third-quarter 2015 results after the closing bell on Oct 22.  Last quarter, the company posted a negative earnings surprise of 46.15%. Let us see how things are shaping up for this announcement. Factors to Consider Overstock’s second-quarter 2015 earnings of 7 cents missed the Zacks Consensus Estimate by a significant margin while revenues of $398 million beat the consensus mark of $387 million. Overstock, a Bitcoin supporter, hopes to reinvent the public stock market using cryptosecurities, or virtual stocks based on Bitcoin's blockchain technology. Bitcoin is a digital currency platform with no central regulating authority involved in the transactions. It is also called crypto currency because it utilizes military-grade cryptography to protect users against fraud. Bitcoin and other cryptocurencies operate on blockchain which is a distributed public ledger. Cryptosecurities will likely bring the next major change in the stock market. With the SpeedRoute deal, Overstock will enter a new financial technology space. SpeedRoute’s infrastructure and underlying technologies will help the company to connect t0 securities trading platform with the entire U.S. equity market. This will enhance transparency and efficiency of the existing capital markets, which was the basic idea behind t0.com. The blockchain technology allows investors and buyers to trail down their purchases and ownership of cryptosecurities, ensuring complete transparency. Moreover, the t0.com blockchain technology facilitates same-day settlement of the securities. In June, Overstock offered its first corporate bond, worth US$25 million, as cryptosecurities to qualified institutional investors. This revolutionary development is part of the company's larger cryptofinance initiative known as Medici. Stocks to Consider Here are some companies, which you may consider as our model shows that they have the right combination of elements to post an earnings beat this quarter: Here are some companies which you may consider instead, as our model shows they have the right combination of elements to post an earnings beat this quarter: Pandora Media, Inc. P with an Earnings ESP of +50.00% and a Zacks Rank #1 (Strong Buy). Anika Therapeutics Inc. ANIK, with an Earnings ESP of +2.94% and a Zacks Rank #1. SkyWest Inc. SKYW, with an Earnings ESP of +4.55% and a Zacks Rank #1. 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 SKYWEST INC (SKYW): Free Stock Analysis Report PANDORA MEDIA (P): Free Stock Analysis Report ANIKA THERAPEUT (ANIK): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research View comments || Global Arena Holding Sub Explores Secured Blockchain Voting: NEW YORK, NY--(Marketwired - Oct 22, 2015) - Global Arena Holding, Inc. (the "Company") (OTC PINK:GAHC), announced today, that its subsidiary,Global Election Services, Inc. ("GES"), is exploring expansion opportunities offeringsecured blockchain votingapplications developed by Blockchain Technologies Corporation ("BTC"). "We have a sizable, longstanding client list, which speaks volumes to the quality and reputation of our elections services," statedMs. Maralin Falik, President of GES and Chairwoman of the Mediation and Arbitration Division. "Our intended expansion usingsecured blockchain votingplatforms, however inviting it may be, must maintain the surety of a safe and secure voting process -- the caliber of which GES' team is known for. "We're confident, that if there is any such technology that can support the expansion of GES andadvance ballot elections into a high-tech world, 'the blockchain' is it." GES, which has been a major contributor to the Company's bottom line, has explored the possibility of expansion through the use ofsecured blockchain votingapplications since the Company began acquisition talks with BTC. Management indicated that growth opportunities are abound for GES, if successfully aligned with BTC, setting the stage for GES to become a leading election management company. Mr. John Matthews, CEO of the Company, stated, "Ms. Falik has participated in over 7,000 plus elections and processed over 40,000,000 ballots in her 30 plus years of election administration. I believe this affords her some authority to suggest what the future of ballot election services could resemble, with the implementation of the right technology." "I too support an evolved voting process. Faster. More secure. Accurate. Non-tamperable and foolproof. Most important, 'electronic,' making it convenient and globally accessible. I'm quite positive, there are a many advocates that would agree, if there is any technology that couldadvance ballot elections into a high-tech world, 'the blockchain' is it." Executive teams at BTC and GES have already begun conceptually augmenting the process of registered mail ballots, in-person registrations, tabulations and internet voting. With an extensive background in government elections and a working knowledge of elections for Labor Unions, Associations, etc., BTC certainly brings strength to GES family. Ms. Falik concluded, "The possibilities here are truly amazing! We are firmly committed to deliveringsecured blockchain votingapplications, to the election services industry." For more information on what this news means for the Company, visit:http://wp.me/p6Nf5M-CL About Global Arena Holding The Company trades on the OTC Pink Sheets under the ticker symbol GAHC. The Company has been publicly traded since 2011 and holds a number of interests, including Global Elections Services, Inc. and GAHI Acquisition Corp. The Company focuses on acquiring technologies, patents and companies having the ability to leverage the blockchain crypto technology. For more information visit:http://globalarenaholding.com Twitter:www.twitter.com/GlobalArenaGAHCFacebook:www.facebook.com/GlobalArenaHoldingGAHCLinkedIn:www.linkedin.com/pub/global-arena-holding/107/86a/a7Google+:http://tinyurl.com/GlobalArenaHolding Safe Harbor Statement The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release contains statements that are forward-looking, such as statements related to the future anticipated direction of the industry, plans for future expansion, various business development activities, planned or required capital expenditures, future funding sources, anticipated sales growth, and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by, or on behalf of, the company. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, domestic and global economic conditions, and other risks and uncertainties described in the Company's periodic filings with the Securities and Exchange Commission. || No one seems to want to be New York’s top banking regulator: (Thomson Reuters)New York Governor Andrew Cuomo addresses the media before participating as an honorary grand marshall in the West Indian Day Parade in Brooklyn, New York The regime change at the New York Department of Financial Services is far from over. Acting DFS superintendent Anthony Albanese is quitting, according to a report from The Wall Street Journal. His departure comes as New York Governor Andrew Cuomo's search to replace Benjamin Lawsky drags on.Lawsky quit earlier this year, relinquishing his role to Albanese temporarily. The Journal report says Cuomo’s staff has sought to exert more control over DFS in the months since Lawsky departed. Albanese downplayed that speaking with the Journal, saying his role and tenure “was always intended to be a temporary position to help smooth the transition process.” With his exit, and no new superintendent known, it’s not clear how the transition process is working. Throughout Lawsky's tenure as head of DFS, he aggressively pursued cases on Wall Street and earned a reputation for cracking down on illegal behavior. By the time Lawsky left, the DFS had issued a staggering$6 billion in finesto financial services firms over a four-year span. Business Insider reached out to the governor's office and to the DFS; neither provided comment by publication time. NOW WATCH:The CEO who raised the price of a life-saving pill by 5000% has totally caved More From Business Insider • New York Just Released Its Bitcoin License, And They're Going To Change The Face Of Digital Currencies In The US • Wall Street will be surprised to hear what New York's ex-banking regulator just said about regulators • Former NY financial watchdog counters criticism on bitcoin work || Sub-zero interest rates have floor nearby, albeit a shaky one: By Mike Dolan LONDON (Reuters) - Zero is clearly not the floor for central bank interest rates, but there's still a lower limit nearby, however shaky it may be. For anyone assuming official interest rates would not or could not go below zero, it's been a sobering year. Four central banks in Europe have broken the taboo and are experimenting with the slightly puzzling concept of negative interest rates. The European Central Bank as well as the Swiss, Swedish and Danish central banks all now employ negative deposit rates - charging their commercial banks for holding reserves on deposit as yet another way of forcing them to lend more. Even though this upside-down world of negative rates appears to many to be just a technical quirk in the banking system, households and firms may start to wonder whether negative rates will spread to them given the obvious reluctance of central bankers to admit a floor and draw the line here. ECB chief Mario Draghi electrified markets last week by holding out the prospect of yet another cut in the ECB's deposit rate of minus 0.2 percent as it battles to get flat lining euro-zone inflation back up to its target of near 2 percent. Whether negative rates excite or terrify you, most economists reckon there's a limit. They insist a so-called 'lower bound' for rates - only debated in academic circles between the 1930s Depression and the credit crash of 2008 - is still a major and worrying constraint on monetary policy and that the floor is likely just a little below where we are now. For all the wonkish detail, it's no pinpoint science. Bank of England studies put the limit about minus 0.5 percent, for example. That's below the current ECB rate, though not as deep as the Swiss National Bank's minus 0.75 percent. National variations clearly apply, however. The BoE itself has, until recently at least, declined to cut its rates below 0.5 percent - due to the plethora of UK mortgage rates that track the policy rate but also because UK banks have typically never charged customers for current accounts. But the argument for an interest rate floor that's just slightly negative is relatively simple. If banks are charged ever larger penalties for depositing reserves with the central bank, the assumption is they will simply transfer the money into physical cash, which even at zero interest would still give them a better return. And their tolerance for negative rates is estimated to be the additional cost of securely stashing those crisp notes away in private vaults. "The source of the zero lower bound constraint lies in the unrestricted convertibility into cash of reserve accounts at the central bank," according to the annual 'Geneva Report' on the world economy from the UK-based think tank Centre for Economic Policy Research. But the report - authored by former BoE policymaker Charles Bean, former New York Federal Reserve economist Christian Broda, former Japanese financial diplomat Takatoshi Ito and former Fed governor Randall Kroszner - said the relatively high security cost of holding vast quantities of banknotes meant that this switching doesn't happen immediately that rates go below zero. "Banks are more likely to decide that it will be worth investing in setting up such secure facilities if central bank deposit rates are likely to be negative frequently and for substantial periods," they wrote, adding the "true floor" is probably close to BoE calculations of minus 0.5 percent. This is no stone floor, however. Reviewing the report, SNB Vice Chairman Fritz Zurbruegg said "the tipping point is not clearly defined; markets and businesses are very innovative." BLUFF? But if the zero bound does exist and it's at least close to where we are right now, what happens if inflation still won't rise back to target and further easing is needed? Was Mario Draghi just bluffing by saying he could do whatever it takes? Facing the risk of a deflationary trap, more bond buying and quantitative easing can at least try to push down long-term borrowing rates. But there are practical and political limits here too on what and just how much bonds to buy, while the benchmark 10-year German bund already yields less than 0.50 percent. Others suggest inflation targets could be raised to provoke a change in expectations and underline central bank determination. But if you're struggling to get inflation from zero to 2 percent, will it be any easier getting it to 4? That leaves more radical moves to overcome the lower bound. One includes getting rid of physical cash altogether to prevent banks switching into it - a plausible idea given the rise of card payments and electronic money. Another proposal involves abandoning the automatic 1-for-1 exchange between cash and reserves. One more alternative suggests banknotes would have to be stamped periodically to retain their legal tender. Spotlighting Bitcoin's emergence, BoE chief economist Andy Haldane said last month that some form of digital money wallets could be the future for new government-backed currency too and have the advantage of being able to absorb negative rates. "Perhaps central bank money is ripe for its own great technological leap forward, prompted by the pressing demands of the zero lower bound," he said. But, even if switching can be avoided, deeply negative rates may cause more problems than they solve by damaging bank balance sheets and stability, fueling increases in risky lending or leading to unintended consequences of banks recouping costs through higher mortgage or corporate lending rates - as seen in Switzerland. Deeply negative interest rates for a protracted period will also create distortions in asset markets. Together these fears may act as powerfully as any limit on just how negative rates can go. (Editing by Hugh Lawson) || October Treat: Junk Bonds and Gold ETFs Pop: The stock market rebound continued this week as the S&P 500 touched its highest level in nearly two months. The SPDR S&P 500 (SPY | A-99) is now up 5.8 percent in October, a strong performance in a month that has historically been the second-worst of the year (after September). Gold & Silver Miners Dominate Jump On Monday, we highlighted the best-performing exchange-traded funds of October . Those funds, comprising mostly copper and energy producers, are still doing well in the month. However, a new group of ETFs have bullied their way into the top 10: gold and silver miners. In fact, precious-metals-related funds now make up six of the top 10 positions for October, as can be seen from the table below. Top 10 ETF Of October Ticker Fund Return (%) SILJ PureFunds ISE Junior Silver (Small Cap Miners/Explorers) 27.86 COPX Global X Copper Miners 25.61 PLTM First Trust ISE Global Platinum 25.30 CU First Trust ISE Global Copper 25.23 SLVP iShares MSCI Global Silver Miners 25.07 SGDM Sprott Gold Miners 24.04 KWT Market Vectors Solar Energy 23.29 RING iShares MSCI Global Gold Miners 23.28 GDX Market Vectors Gold Miners 22.60 SIL Global X Silver Miners 22.41 Considering the big jump in gold prices this month, the performance of these ETFs hasn't been surprising. The yellow metal hit the highest point since mid-June this week, leading the SPDR Gold Trust (GLD | A-100) to a gain of 5.7 percent in October. Miners tend to be much more volatile than the underlying metal, which explains their significant outperformance. Yet even as these ETFs rally, investors haven't been too keen on buying into them. None of the top 10 price performers saw significant inflows, and in fact, investors pulled out $429 million from the Market Vectors Gold Miners ETF (GDX | C-79) during the first half of the month. Investors Buying Bonds While ETF investors haven't been too enthusiastic about miners, they did show interest in gold itself. So far this month, GLD has attracted $483 million in inflows, putting it just outside the top 10 inflows list for the month. Story continues One salient theme that has emerged during October is the idea that the Federal Reserve will hold off on hiking interest rates this year due to global slowdown concerns and the recent string of weak U.S. economic data. That's propelled gold higher, as well as bonds. In fact, bonds are the asset class that's attracted the most capital this month. As can be seen from the table below, generated using the ETF.com fund flows tool , a number of bond ETFs made the top 10 inflows list: Source: ETF.com Fund Flows Tool The iShares 7-10 Year Treasury Bond ETF (IEF | A-51) was a big winner, with nearly $1 billion in inflows. To the extent that the Fed's overnight interest rate stays lower for longer, that puts pressure on the longer end of the yield curve as well (supporting bond prices). Even more popular than IEF were corporate bond ETFs like the SPDR Barclays High Yield Bond ETF (JNK | B-68) and the iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD | A-77) . In addition to support from low interest rates, corporate bonds benefited from speculation that defaults may not be as high as feared. That's particularly true for the junk bond space, which was hammered in August and September, sending yields to their loftiest level since 2011. Investors may be seeing those yields as attractive now that the stock market has stabilized and the Fed looks to be on hold. In addition to the bond ETFs, other funds that saw notable inflows were the tech-heavy PowerShares QQQ (QQQ | A-66) and the large-cap iShares Russell 1000 Value (IWD | A-90) . In terms of sectors, investors liked the Industrial Select SPDR (XLI | A-92) and the Consumer Discretionary Select SPDR (XLY | A-91) . Contact Sumit Roy at [email protected] . Recommended Stories Gundlach: Sell Junk Bonds, Buy India Bitcoin Rally Benefiting ETFs NatGas Investing Not For Faint Of Heart October Treat: Junk Bonds & Gold ETFs Pop Twitter Chatter Packed In New Index Permalink | © Copyright 2015 ETF.com. All rights reserved [Random Sample of Social Media Buzz (last 60 days)] Current price: 157.16£ $BTCGBP $btc #bitcoin 2015-10-04 14:00:04 BST || In the last 10 mins, there were arb opps spanning 16 exchange pair(s), yielding profits ranging between $0.00 and $207.09 #bitcoin #btc || #RDD / #BTC on the exchanges: Cryptsy: 0.00000004 Bittrex: 0.00000005 Average $1.0E-5 per #reddcoin 03:00:01 || $340.85 at 10:00 UTC [24h Range: $317.05 - $342.21 Volume: 17374 BTC] || Current price: 235.66£ $BTCGBP $btc #bitcoin 2015-11-06 02:00:07 GMT || [Bitcoin] Bitcoin and United States Dollar: 0.0100 BTC = 2.85 USD 1.00 USD = 0.0035 BTCConverter #YAF || BTCTurk 705.46 TL BTCe 236.238 $ CampBx $ BitStamp 237.00 $ Cavirtex 317.43 $ CEXIO 241.10 $ Bitcoin.de 211.88 € #Bitcoin #btc || Current price: 236.3€ $BTCEUR $btc #bitcoin 2015-10-21 09:00:06 CEST || Margin Sell -4.00000000 BTC 423.36 USD 15-11-03 19:00:53 UTC || In the last hour, 8 people won 1.00 BTC playing Bitcoin lottery at http://10xbtc.com , the easiest BTC lottery, 160BTC Jackpot
Trend: up || Prices: 357.38, 371.29, 377.32, 362.49, 359.19, 361.05, 363.18, 388.95, 388.78, 395.54
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 2017-01-25] BTC Price: 901.54, BTC RSI: 51.56 Gold Price: 1197.30, Gold RSI: 54.86 Oil Price: 52.75, Oil RSI: 53.37 [Random Sample of News (last 60 days)] Award Winning Flow Lend Issues Over US$1M in Mobile Credit in Less than Six Months: MIAMI, FL--(Marketwired - Dec 20, 2016) -Flowhas been keeping its prepaid mobile customers connected with its cashless mobile top-up app,Flow Lend, which advanced more than US$1Million in less than six months in mobile credit -- and, in partnership withJUVO, won theMondato Innovation Award for Digital Finance and Commerce (DFC)earlier this month. James McElvanna, VP Products,Cable and Wireless, operator of Flow said, "We are proud to have partnered with JUVO to develop an app that addresses the needs of our customers, which in this case is anytime, anywhere access. Since many of our prepaid customers don't use credit cards, and usually rely on in-store cash top ups, Flow Lend gives them the assurance that they can always stay connected, even when they are out of cash and can't make it to a top-up station. We're happy to provide this convenient option to our customers, and we're honoured to be recognized for our efforts and investment in technology that has transformed our customers' experience." Steve Polsky, Founder and CEO of JUVO said, "C&W is a true partner and we are thrilled to be working with their team to offer Flow customers real time access to credit to help them stay connected. Receiving the Mondato Innovation Award, along with the high volume of credit advances issued via Flow Lend, reaffirms the real need for this solution -- and we're excited to provide the Identity Scoring technology that powers it." All prepaid mobile customers who top up regularly are eligible for credit advance from Flow Lend. The app tracks the frequency of top ups and other usage patterns to determine which customers have met the requirements for an advance. Once approved, customers can use Flow Lend to request instant, interest-free credit when they're running low. The loan amount must be repaid within 30 days via any regular Flow top up method. By consistently paying back on time, they can gradually borrow more and never have to worry about running out of credit. "We are addressing a real need for many of our customers who may have little or no credit and may be caught in a situation where they desperately need to be in contact," said McElvanna, highlighting the app's benefits. "For example, the mother who needs to call the doctor's office to make an appointment for her sick child no longer has to wait until she has the cash to go buy credit; the teenager who's nearing a low balance late at night doesn't have to leave the comfort and security of his/her home to visit a top up centre. Regardless of the circumstance, Flow Lend is available to our customers, anytime, anywhere." Flow Lend isavailable in all Flow's mobile markets across the regionfor bothAndroidandiOSsmartphones. EDITORS NOTE:About Mondato Innovation Award for Digital Finance and Commerce (DFC)The Mondato Awardswere created to recognize excellence and innovation in Digital Finance and Commerce (MFC) andDigital Finance Plus (DF+). The winners represent some of the most innovative DFC and DF+ solutions from emerging startups, as well as established companies paving new paths in the industry. C&W Communications in partnership with Juvo received the 2016 award. Juvo was founded with an overarching vision: to establish financial identities for the billions of people worldwide who are creditworthy, yet financially excluded. In partnership with mobile network operators, Juvo's proprietary Identity Scoring technology uses data science, machine learning and game mechanics to create an identity-based relationship with anonymous prepaid users, opening up access to otherwise unattainable mobile financial services. Juvo is a privately held company backed by global business leaders and luminaries in the world of tech, mobile and finance. Its executive team comprises accomplished industry leaders across the data science, consumer internet, financial services and mobile telecom fields. Headquartered in San Francisco, with offices in Miami, London, Buenos Aires, Manila, Jakarta and Hanoi, Juvo has a reach of over 100 million subscribers across four continents and is deployed in 23 countries. For more information, follow us onTwitterorLinkedIn, or find us atwww.juvo.com All trademarks contained herein are the property of their respective owners. About C&W CommunicationsCWC 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. Learn more atwww.cwc.com, or follow C&W onLinkedIn,FacebookorTwitter. About Liberty GlobalLiberty 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 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) 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 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. Image Available:http://www2.marketwire.com/mw/frame_mw?attachid=3093327Image Available:http://www2.marketwire.com/mw/frame_mw?attachid=3093322Image Available:http://www2.marketwire.com/mw/frame_mw?attachid=3093330 || Expanded gift card and loyalty features could boost Apple Pay: Distortion of Apple Pay (BI Intelligence) This story was delivered to BI Intelligence " Payments Briefing " subscribers. To learn more and subscribe, please click here . Apple Pay users will be able to add gift cards and a wider selection of loyalty programs following a partnership between the tech giant and Blackhawk Network, a gift and prepaid card firm. The partnership will allow customers to “store, manage, and make payments” with gift and loyalty cards from Blackhawk partners, which include Amazon, Target, Best Buy, and Home Depot. Partnering with Blackhawk will improve upon a feature that’s already one of Apple Pay’s most popular. As it currently stands, Apple Pay’s loyalty support is limited. But just a few months after Apple Pay added loyalty in that limited capacity, proprietary store and loyalty cards made up 25% of the cards loaded into the wallet, according to data from First Annapolis . For context, that’s nearly as much as the share held by debit cards, which are the most popular payment method among US adults. Blackhawk’s vast partnership network could further extend that percentage and in turn help Apple capitalize on pent-up demand for store and loyalty offerings in-wallet. And that could lift Apple Pay in two key areas. It could increase adoption of the wallet overall. Apple Pay adoption has stagnated just below a quarter of eligible users, which means the wallet needs to look for new ways to draw in users. Loyalty could be one such solution. Nearly a quarter of adults with mobile phones want to organize, track, and store loyalty and rewards points on their phones. And 53% of nonusers would start using mobile payments if they were offered these types of opportunities, which could drive new customers to the wallet. And among existing users, it could help increase engagement. Adding a vast loyalty network to Apple Pay could give users incentives to pay with the wallet in more locations, because they want to capture the benefits that loyalty cards can provide. More frequent spending could help drive up habit formation, which could increase payment volume and drive up usage across the board. Mobile payments are becoming more popular thanks to services such as Apple Pay, but they still face some high barriers, such as consumers' continued loyalty to traditional payment methods and fragmented acceptance among merchants. But as loyalty programs are integrated and more consumers rely on their mobile wallets for other features like in-app payments, adoption and usage will surge over the next few years. BI Intelligence , Business Insider's premium research service, has compiled a detailed report on mobile payments that forecasts the growth of in-store mobile payments in the U.S., analyzes the performance of major mobile wallets like Apple Pay, Android Pay, and Samsung Pay, and addresses the barriers holding mobile payments back as well as the benefits that will propel adoption. Story continues Here are some key takeaways from the report: In our latest US in-store mobile payments forecast, we find that volume will reach $75 billion this year. We expect volume to pick up significantly by 2020, reaching $503 billion. This reflects a compound annual growth rate (CAGR) of 80% between 2015 and 2020. Consumer interest is the primary barrier to mobile payments adoption. Surveys indicate that the issue is less the mobile wallet itself and more that people remain loyal to traditional payment methods and show little enthusiasm for picking up new habits. Integrated loyalty programs and other add-on features will be key to mobile wallets taking off. Consumers are showing interest in wallets with integrated loyalty programs. Other potential add-ons, like in-app, in-browser, and P2P payments, will also start fueling adoption. This strategy has been proved successful in China with platforms like WeChat and Alipay. In full, the report: Forecasts the growth of US in-store mobile payments volume and users through 2020. Measures mobile wallet user engagement by forecasting mobile payments' share of their annual retail spending. Reviews the performance of major mobile wallets like Apple Pay and Samsung Pay. Addresses the key barriers that are preventing mobile in-store payments from taking off. Identifies the growth drivers that will ultimately carve a path for mainstream adoption. To get your copy of this invaluable guide, choose one of these options: Subscribe to an ALL-ACCESS Membership with BI Intelligence and gain immediate access to this report AND over 100 other expertly researched deep-dive reports, subscriptions to all of our daily newsletters, and much more. >> START A MEMBERSHIP Purchase the report and download it immediately from our research store. >> BUY THE REPORT The choice is yours. But however you decide to acquire this report, you’ve given yourself a powerful advantage in your understanding of how mobile payments are rapidly evolving. More From Business Insider Apple pushes further in mapping and location technology 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 View comments || Bitcoin plunges as much as 20 percent as Chinese yuan soars: By Jemima Kelly LONDON (Reuters) - A dramatic rally in digital currency bitcoin came to a spectacular end on Thursday with a plunge of up to 20 percent as China's yuan rose sharply - further evidence of an intriguing inverse relationship between the pair. Bitcoin had gained more than 40 percent in two weeks to hit a three-year high of $1,139.89 on Wednesday, just shy of its all-time record of $1,163 on the Europe-based Bitstamp exchange (BTC=BTSP). But it dived as low as $885.41 on Thursday as the yuan jumped by over 1 percent in offshore trading and headed for its strongest two-day performance on record. (CNH=D3) [CNY/] Chinese exchanges have reported high volumes of trading of the web-based "cryptocurrency" over the past year, during which time the yuan has shed almost 7 percent, its worst annual performance since 1994, while bitcoin has surged 125 percent, outperforming all other currencies for a second year in a row. Bitcoin can used for moving money across the globe quickly and anonymously, and operates outside the control of any central authority. That makes it attractive to those wanting to get around capital controls, such as in China, and also to investors who are worried about a devaluation in their currency. "Given that the yuan's weakness over recent months seemed to correlate with bitcoin's strength more than any other currency, it's no surprise that bitcoin traders have reacted the way they have to the yuan's sudden strength today," said Paul Gordon, co-founder of London-based Quantave, a firm seeking to make it easier for investors to access digital currency exchanges. Exchanges in China say they account for more than 90 percent of global bitcoin trading, which would help explain why a shift in Chinese demand would sharply affect the price. But many bitcoin experts say Chinese exchanges overstate their volumes in the digital currency, and attribute sharp moves to speculation by, for example, U.S.-based hedge funds. Some said bitcoin's fall was a natural reaction to the speed of its previous rise. It is still up more than 50 percent on three months ago, when it was trading at around $600, "If something goes up very rapidly...people make a lot of money, and at some point they’re going to want to sell, in order to realize their gains," said Marco Streng, CEO of bitcoin mining and trading firm Genesis Mining. By 1645 GMT (11:45 a.m. ET), bitcoin had recovered some of its earlier losses to trade down almost 15 percent on the day at around $950, still leaving it on course for its worst performance in a year. Story continues On some digital currency exchanges - of which there are dozens - bitcoin did reach record highs late on Wednesday. "Once we broke through the nominal all-time high, liquidity dried up - no shorts, no sellers, which means a volatile little bubble formed quickly," said Peter Smith, CEO of London-based Blockchain, the biggest bitcoin wallet-provider globally. "We are seeing the effects of that now as it breaks. It's still fairly thin trading volume though, so who really knows where it goes next." For a graphic on the bitcoin economy, click http://fingfx.thomsonreuters.com/gfx/rngs/HONGKONG-BITCOIN/0100106X09S/BITCOIN%20ECONOMY%20T.jpg For a graphic on bitcoin exchange rates, click http://fingfx.thomsonreuters.com/gfx/rngs/1/2097/4051/s3d90f04kz56.htm (Reporting by Jemima Kelly; Editing by Mark Trevelyan) View comments || Bitcoin hits highest levels in almost three years: By Jemima Kelly LONDON (Reuters) - Web-based digital currency bitcoin hit its highest levels in almost three years on Friday, extending gains since India sparked a cash shortage by removing high-denomination bank notes from circulation a month ago. Bitcoin was trading as high as $774 on the New York-based itBit exchange, up almost 1 percent on the day and the highest since February 2014, having climbed almost 9 percent in the past month. Bitcoin is a cash alternative that can be used for moving money across the globe quickly and anonymously with no need for a central authority to process transactions. It has climbed around 80 percent so far this year, far exceeding its 35 percent rise in 2015. Indian prime minister Narendra Modi announced a shock move on Nov. 8 to ditch 500 and 1,000 rupee notes - worth a combined $256 billion - that he said were fuelling corruption, being forged and even paying for attacks by militants who target India. The cryptocurrency's value has been highly volatile - after rocketing above $1,100 in 2013, it had fallen to around $150 by early 2015. But it has since stabilized, staying above $500 for the past six months. (Reporting by Jemima Kelly; Editing by Jamie McGeever) || First Bitcoin Capital Acquires Large Stake in One of the Oldest Mineable Cryptocoins Ranked High on Coin Market Cap; Also, Company’s Digital Shares Are Now Listed on Two International Cryptocurrency Exchanges: VANCOUVER, BC / ACCESSWIRE / November 30, 2016 /First Bitcoin Capital Corp. (BITCF) is pleased to announce that it has sold its Venezuela mining concessions for a large stake in the cryptocurrency of one of the oldest mineable coins that ranks high on Coin Market Cap. See:http://coinmarketcap.com/currencies/kilocoin/. Kilocoin which is similar to Litecoin primarily trades on a popular cryptocurrency exchange athttps://c-cex.com/?p=klc-btc A list of its nodes can be found viahttps://c-cex.com/?id=ws&shownodes=klc Kilocoin mining can be tracked athttps://www.blockexperts.com/klc# From its web site viahttp://kilocoin.com/their wallet can be downloaded. At its current rate of mining (159 coins per block) it should take centuries to reach the maximum of 25,000,000,000 mineable coins with a little over 10,000,000,000 coins mine thus far, giving BITCF nearly 10% participation. The Company anticipates that the KLC exchange will boost BITCF's balance sheet with tremendous upside potential and may become a source of future dividends. Differences from Bitcoin and Litecoin and Kilocoin [{"": "Coin limit", "Bitcoin": "21 Million", "Litecoin": "84 Million", "Kilocoin": "25 Billion"}, {"": "Algorithm", "Bitcoin": "SHA-256", "Litecoin": "Scrypt", "Kilocoin": "Scrypt"}, {"": "Mean block time", "Bitcoin": "10 minutes", "Litecoin": "2.5 minutes", "Kilocoin": "5 minutes"}, {"": "Difficulty Target", "Bitcoin": "2016 Block", "Litecoin": "2016 Blocks", "Kilocoin": "288 Blocks"}, {"": "Initial Reward", "Bitcoin": "50 BTC", "Litecoin": "50 LTC", "Kilocoin": "159 KLC"}, {"": "Current block reward", "Bitcoin": "25 BTC", "Litecoin": "50 LTC", "Kilocoin": "159 LTC"}, {"": "Block explorer", "Bitcoin": "blockchain.info", "Litecoin": "block-explorer.com", "Kilocoin": "https://www.blockexperts.com/klc#"}, {"": "Created by", "Bitcoin": "Satoshi Nakamoto", "Litecoin": "Charles Lee", "Kilocoin": "Kilocoin, Inc (DAC)"}, {"": "Creation date", "Bitcoin": "January 3, 2009", "Litecoin": "October 7, 2011", "Kilocoin": "Feb 27th, 2014"}, {"": "Coins Mined (as of 8 April 2015)", "Bitcoin": "14,029,116.67", "Litecoin": "37,984,800", "Kilocoin": "10,013,105,152"}] Furthermore, in conjunction with BITCF's expanding ownership of its common shares onto its own blockchain (BIT) and trading on foreign international cryptocurrency exchanges, the company is proud to announce that its digital shares are now trading on an additional, popular cryptocurrency exchange, LIVECOINwww.livecoin.net. About the company: First Bitcoin Capital is engaged in developing digital currencies, proprietary Blockchain technologies, 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 cryptocurrencies and blockchain technologies." At this time the Company owns and operates the following digital assets. www.BITCoinCapitalcorp.comcompany website. 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 and $GARY $BURN coins. 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. SOURCE:First Bitcoin Capital Corp. || Bitcoin Services Inc. Purchases Four Antminer S9 Bitcoin Miner: GRANDVILLE, MI / ACCESSWIRE / January 4, 2017 / Bitcoin Services Inc. (OTC PINK: BTSC) announced today that it purchased four Antminer S9 bitcoin miners. The S9 has more hashing power than any previous device crammed into its silicon; a massive 14 TH/s (TeraHash per second). A total of 189 chips, spread over 3 circuit boards, are combined to achieve this phenomenal hashrate. In addition, after several shareholder inquiries, the company has no plans for a reverse split. The current share structure as of today is 511,784,705 OS, 387,512,190 Restricted, and 124,272,515 Float. 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. Story continues CONTACT: [email protected] SOURCE : Bitcoin Services Inc. || Bitcoin predicted to rise 165% to $2,000 in 2017 driven by Trump’s ‘spending binge’ and dollar rally: The price of Bitcoin(Exchange: BTC=-USS)could hit more than $2,000 in 2017 driven by expectations that U.S. President-elect Donald Trump may introduce economic stimulus policies, which could send inflation soaring and propel the dollar to record highs, a report from Saxo Bank claims. Bitcoin is currently trading around $754.51, according to CoinDesk data. A handle of over $2,000 would represent 165 percent appreciation. During his election campaign Trump has talked about an increase in fiscal spending. Saxo Bank's note said that this could increase the roughly $20 trillion of U.S. national debt and triple the current budget deficit from approximately $600 billion to $1.2-1.8 trillion, or some 6-10 percent of the country's current $18.6 trillion economy. As a result, the economy will grow and inflation will "sky rocket", forcing the U.S. Federal Reserve to hike interest rates at a faster pace and causing the U.S. dollar "to hit the moon". When inflation rises the Federal Reserve may raise interest rates to bring it under control. This causes the dollar to appreciate because it would be seen as an attractive currency for foreign investors. "This creates a domino effect in emerging markets and China in particular, leading people globally to look for alternative forms of currencies and payment systems not tied to central banks that have exhausted monetary policies or crony governments that are in full financial repression mode nor transaction systems that are long overdue for a revolution," Steen Jakobsen, chief economist at Saxo Bank, wrote in a note. Bitcoin as the largest cryptocurrency would benefit from this "chaos", he added, as emerging market countries look to move away from "being tied" to the monetary policy of the U.S. and banking system. "If the banking system as well as sovereigns such as Russia and China move to accept Bitcoin as a partial alternative to the USD and the traditional banking and payment system, then we could see Bitcoin easily triple over the next year going from the current $700 level to +$2,100 as the blockchain's decentralized system, an inability to dilute the finite supply of bitcoins as well as low to no transaction costs gains more traction and acceptance globally," Jakobsen said. Blockchain is the underlying technology of bitcoin which records every transaction using the digital currency so that it can't be tampered with. There is also a finite supply of 21 million bitcoins. This in theory would cause price appreciation of the asset over a long period of time. Jakobsen's comments were in his annual "Outrageous Predictions" note and the economist says that his views are not the official outlook for Saxo Bank. Instead they are an attempt to "get you to think out of the box" with the aim of "provoking conversation". But Bitcoin advocates say that the slower appreciation of the dollar against the yuan in comparison to bitcoin against the dollar shows that the $2,000 handle is not unrealistic. The dollar has risen 3.3 percent against the yuan(Exchange: CNY=)in the last three months while bitcoin has gone up 20.7 percent in the same time period. Bobby Lee, chief executive at bitcoin exchange BTC China, compared the current situation of cryptocurrencies to the advent of digital cameras. He said that it is a "new asset class" with long-term potential. "It's the advent of digital currency and with bitcoin there is bound to be more in circulation value in the coming years," Lee told CNBC by phone. The amount of bitcoin in circulation is valued at around $12.1 billion. More From CNBC • 9 iconic mobile phones people want to see make a comeback • Kim Dotcom extradition ruling: Prosecutors acted in ‘illegal’ way, lawyer says • Mark Cuban: Basic income ‘the worst possible response’ to job losses from robots || 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) || Big China bitcoin exchange says no government pressure on outflows: By John Ruwitch SHANGHAI (Reuters) - The head of a major bitcoin exchange in China says few people there use the cryptocurrency to get around rules on how much money they can take out of the country, and despite a publicized meeting with the central bank last week the exchange, BTCC, hasn't been told explicitly to check capital outflows. Bitcoin's price took a steep dive on Friday after China's central bank cautioned investors to take a rational and careful approach to investing in the digital currency. The price had surged to record highs. The central bank's comments come as Beijing escalates a campaign to check capital outflows and slow the depreciation of the yuan currency <CNY=CFXS>, which lost nearly 7 percent of its value against the U.S. dollar last year. With bitcoin's soaring price and the relative anonymity it affords, some believe the digital currency was becoming an attractive option for tech-savvy Chinese to hedge against the yuan and circumvent rules that limit individuals to $50,000 of foreign exchange each year. The Shanghai office of the People's Bank of China (PBOC) said on Friday it had met with BTCC to understand the platform's operations, highlight the risks, remind the exchange to abide by the law, and "urge the platform to carry out self-examination and corresponding clean-up and rectification" according to law. Asked if BTCC had received direct pressure on outflows, CEO Bobby Lee, who founded BTCC in 2011, said: "No. Not as of yet... Nothing verbal or written to us." In Beijing, the PBOC told two of China's other big bitcoin exchanges, Huobi and OKCoin, not to mention the depreciating yuan when advertising their platforms, the influential news outlet Caixin said, citing people familiar with the meeting. Star Xu, CEO and founder of OKCoin, confirmed there had been a meeting of the PBOC and leading bitcoin exchanges on Friday to discuss the operation of trading platforms. Story continues "The industry can benefit from balanced, risk-based regulation and/or oversight, and we look forward to further constructive discussions with the regulators and industry participants," Xu told Reuters in an emailed comment. Huobi's chief operating officer Zhu Jiawei said in an emailed response to Reuters queries that Huobi plans to work with other bitcoin firms to establish an alliance and rules to self-govern the industry. While it's possible to buy bitcoin with yuan and then sell it abroad for a foreign currency, BTCC's Lee said "to be honest, not many" people were doing it because of the cost. The renminbi price of bitcoin carries a premium to the price in other currencies, he noted. In addition, buy or sell orders in the 100,000 yuan ($14,423) to 1 million yuan ($144,233) range, and up, would influence the bitcoin spot price and affect the transaction. "For that range, you're not going to be able to do it at a good rate. You're going to lose 10 percent of your money," Lee said. "Maybe the individual household might buy 20,000 more dollars worth of bitcoin than their $50,000 (forex) quota, but that's a drop in the bucket." Still, Lee said various indicators, like active trading accounts, new users, actual deposits and withdrawals, were "very active" in China, and some key BTCC metrics were at "all-time highs", though he declined to be more specific. NOT LEGAL TENDER Bitcoin is not regulated in China, but the PBOC has declared it is not legal tender, and is instead a "virtual good", Lee said. That puts it in the same category as other goods. "If I pack a suitcase and take a plane to the United States, do the clothes, does the computer in my suitcase, does the watch I wear count towards capital flight?" he said. "Where do you draw the line?" He said no new or planned rules regarding bitcoin were discussed in the latest meeting with the PBOC, and he estimates it will be two to three years before China regulates bitcoin. In a statement on its website, BTCC, which calls itself the world's longest running bitcoin exchange, said it regularly meets with the PBOC and "work(s) closely with them to ensure that we are operating in accordance with the laws and regulations of China." Exchanges in China say they account for more than 90 percent of global bitcoin trading, which would help explain why a shift in Chinese demand would sharply affect the price. But many bitcoin experts say Chinese exchanges overstate their volumes in the digital currency, and attribute sharp moves to speculation by, for example, U.S.-based hedge funds. (Reporting by John Ruwitch; Editing by Ian Geoghegan) || Bitcoin plunges as much as 20 percent as Chinese yuan soars: By Jemima Kelly LONDON (Reuters) - A dramatic rally in digital currency bitcoin came to a spectacular end on Thursday with a plunge of up to 20 percent as China's yuan rose sharply - further evidence of an intriguing inverse relationship between the pair. Bitcoin had gained more than 40 percent in two weeks to hit a three-year high of $1,139.89 on Wednesday, just shy of its all-time record of $1,163 on the Europe-based Bitstamp exchange (BTC=BTSP). But it dived as low as $885.41 on Thursday as the yuan jumped by over 1 percent in offshore trading and headed for its strongest two-day performance on record. (CNH=D3) [CNY/] Chinese exchanges have reported high volumes of trading of the web-based "cryptocurrency" over the past year, during which time the yuan has shed almost 7 percent, its worst annual performance since 1994, while bitcoin has surged 125 percent, outperforming all other currencies for a second year in a row. Bitcoin can used for moving money across the globe quickly and anonymously, and operates outside the control of any central authority. That makes it attractive to those wanting to get around capital controls, such as in China, and also to investors who are worried about a devaluation in their currency. "Given that the yuan's weakness over recent months seemed to correlate with bitcoin's strength more than any other currency, it's no surprise that bitcoin traders have reacted the way they have to the yuan's sudden strength today," said Paul Gordon, co-founder of London-based Quantave, a firm seeking to make it easier for investors to access digital currency exchanges. Exchanges in China say they account for more than 90 percent of global bitcoin trading, which would help explain why a shift in Chinese demand would sharply affect the price. But many bitcoin experts say Chinese exchanges overstate their volumes in the digital currency, and attribute sharp moves to speculation by, for example, U.S.-based hedge funds. Some said bitcoin's fall was a natural reaction to the speed of its previous rise. It is still up more than 50 percent on three months ago, when it was trading at around $600, "If something goes up very rapidly...people make a lot of money, and at some point they’re going to want to sell, in order to realize their gains," said Marco Streng, CEO of bitcoin mining and trading firm Genesis Mining. By 1645 GMT (11:45 a.m. ET), bitcoin had recovered some of its earlier losses to trade down almost 15 percent on the day at around $950, still leaving it on course for its worst performance in a year. On some digital currency exchanges - of which there are dozens - bitcoin did reach record highs late on Wednesday. "Once we broke through the nominal all-time high, liquidity dried up - no shorts, no sellers, which means a volatile little bubble formed quickly," said Peter Smith, CEO of London-based Blockchain, the biggest bitcoin wallet-provider globally. "We are seeing the effects of that now as it breaks. It's still fairly thin trading volume though, so who really knows where it goes next." For a graphic on the bitcoin economy, clickhttp://fingfx.thomsonreuters.com/gfx/rngs/HONGKONG-BITCOIN/0100106X09S/BITCOIN%20ECONOMY%20T.jpg For a graphic on bitcoin exchange rates, clickhttp://fingfx.thomsonreuters.com/gfx/rngs/1/2097/4051/s3d90f04kz56.htm (Reporting by Jemima Kelly; Editing by Mark Trevelyan) [Random Sample of Social Media Buzz (last 60 days)] MMMBTC || MMMBTC || MMMBTC || 【http://Zaif.TV 】Vol.15〜 Jimmyさんに聞いたBitcoin世界の動きその1〜【Miss Bitcoin】 https://youtu.be/5JUACGbCu3Y  @YouTubeさんから #bitcoin #blockchain #zaif || #bitcoin #miner Bitmain Antminer S4 2000-Ghs (2-THs) 1400W-ASIC-Bitcoin Miner $140.00 http://ift.tt/2hWayOV pic.twitter.com/Q6V0IxxVsy || MMMBTC || 23Dec2016 06:00 UTC #Bitcoin live spots - #XBTUSD @ 896.18150 $ - #XBTEUR @ 857.30250 € || Invista apenas uma vez 0,02 BTC & Ganhe 2,000,000 mês BTC (Emprego a tempo parcial) Visite o site e saiba mais https://www.bitcoin4u.biz/sandroesm1983  || One Bitcoin now worth $824.05@bitstamp. High $830.01. Low $790.00. Market Cap $13.230 Billion #bitcoin pic.twitter.com/SwjGh4mdek || Experts Gather in Mumbai to Discuss the Future of Bitcoin and Blockchain in India https://news.82bitcoin.com/2016/12/19/experts-gather-in-mumbai-to-discuss-the-future-of-bitcoin-and-blockchain-in-india-68/ …
Trend: up || Prices: 917.59, 919.75, 921.59, 919.50, 920.38, 970.40, 989.02, 1011.80, 1029.91, 1042.90
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 2022-11-25] BTC Price: 16521.84, BTC RSI: 39.67 Gold Price: 1753.30, Gold RSI: 62.53 Oil Price: 76.28, Oil RSI: 33.59 [Random Sample of News (last 60 days)] Marketmind: Wild oil ride amid China and crypto woe: A look at the day ahead in U.S. and global markets from Mike Dolan. Turbulence in oil, China's COVID crunch and unravelling cryptocurrencies make for uncomfortable reading for investors starting to parse what looks like a recessionary year ahead. Higher interest rates and slowing economies dominate most 2023 outlooks, not least Tuesday's latest from the Organisation for Economic Cooperation and Development. Although it expects the global economy at large to skirt outright recession, the Paris-based OECD said it sees world growth slowing to 2.2% next year from 3.1% in 2022 - with both British and German economies likely to contract in 2023. Underlining the growth gloom, China's battle with COVID and its widening curbs only seemed to worsen. Beijing shut parks, shopping malls and museums while more Chinese cities resumed mass testing for COVID-19 as the country reported new infections near April's peaks. Although Hong Kong stocks took another outsize hit, downbeat world markets were more mixed on Tuesday as ebbing oil prices - weighed down by China's woes and world recession fears - went on a wild rollercoaster ride over the past 24 hours. Brent crude plunged more than 5% to 10-month lows of $82 per barrel at one point late on Monday amid reports OPEC was considering lifting output. But Saudi denials saw it regain all those losses since and it hovered about $88 first thing today. The U.S. dollar also gave back some of Monday's sharp gains. San Francisco Federal Reserve President Mary Daly struck a more measured note on Fed tightening by saying on Monday that the real-world impact of the U.S. central bank's interest rate hikes is likely greater than what its short-term rate target implies. Pain in the crypto world continued, with many investors fearing the fallout from the collapse of exchange FTX is just beginning. Bitcoin - which is now down almost 80% over the past year - dropped to a two-year low of $15,481 late Monday. Analysts estimate more than 55% of all the money ever invested in the leading cryptocurrency is now underwater. Investigations, recriminations and lawsuits across the crypto sector continued. Cryptocurrency lender Genesis said on Monday it has no immediate plans to file for bankruptcy, days after the FTX failure forced it to suspend customer redemptions. And another worrying development for anyone involved in the area was a rise of lawsuits against sponsors and advertisers of the failed FTX - a shot across the bow to many celebrities, sports teams and corporate advertisers dabbling in crypto. The Golden State Warriors were sued on Monday by an FTX customer who accused the reigning National Basketball Association champions of fraudulently promoting the now-bankrupt cryptocurrency exchange. And Bloomberg News reporters American football star Tom Brady was being probed by Texas regulators. In corporate news, Baidu's third-quarter revenue beat estimates as China's search engine giant benefited from a recovery in online advertising sales and growth in its cloud and artificial intelligence business. Key developments that may provide direction to U.S. markets later on Tuesday: * Philadelphia Federal Reserve's Nov Non-manufacturing business survey, Richmond Fed Nov business survey, Euro zone Nov consumer confidence * Cleveland Federal Reserve President Loretta Mester, St. Louis Fed President James Bullard and Kansas City Fed chief Esther George all speak. * US corporate earnings: Analog Devices, HP, Dollar Tree, Autodesk * U.S. Treasury sells 7-year notes, 2-year floating rate notes (By Mike Dolan, editing by Alexandra Hudson [email protected]. Twitter: @reutersMikeD) || Memes are the Future of Crypto? Supercharged Meme Coins Soar Past Bitcoin After Elon Musk Twitter Deal: With so many rapid gains, and millionaires made, many people make the false assumption that all meme coins are scams, due to rampant pump-and-dump schemes circulating the crypto space. However, there are many legitimate meme coins to invest in that will net you much higher profits than Bitcoin (BTC), from more established coins like Dogecoin (DOGE), to promising newcomers like Big Eyes (BIG). Bitcoin: Slow and Steady As a long-term investment, Bitcoin (BTC) is a solid choice. Due to its secure proof-of-work consensus mechanism Bitcoin is extremely secure, however, it is very slow. As a result, Bitcoin does not have a lot of applications, as transaction speeds need to be much higher to have real-world use. This has led to people calling Bitcoin digital gold. It is a very solid hedge against inflation, as Bitcoin is deflationary. Due to its fixed supply, in the long run, Bitcoin’s price will only continue to rise. Give me the MEMES Meme coins like Dogecoin (DOGE) have a much higher risk when investing. As they are tied even more strongly to pop culture than other cryptocurrencies, their price can move much faster than other cryptocurrencies, however, this also means they have the potential for massive upsides. Dogecoin has managed to stand the test of time, as it was the original meme coin, and the current most popular meme coin, standing at the number 8 spot on CoinMarketCap, displacing Cardano (ADA) and Solana (SOL). Tesla started accepting Dogecoin as payment, amongst other companies such as Twitch, AMC and GameStop. Dogecoin also has more promising use cases on the horizon, as many people speculate that as Musk now owns Twitter, he has plans to introduce Dogecoin as a currency accepted by the social media platform. With a hopeful future for Dogecoin ahead, it will pave the way for many other meme coins to follow in its pawprints. Many other Shiba Inu-based coins enjoyed similar gains at the time Musk acquired Twitter. With meme coins exploding in popularity, many people want to get in on the action. Whilst most of these meme coins may continue to rise, there is a new meme coin coming up with the potential to be the next Dogecoin. Story continues What Big Eyes You Have! With its adorable, anime-styled cat design, the new meme coin Big Eyes (BIG), sets itself apart from the crowd of lookalike doges flooding the crypto marketplace. Big Eyes has the makings of a cryptocurrency with explosive growth, as it has already raised over $9 million so far in the pre-sale. Big Eyes is focused on community, and 90% of tokens are available at launch, 70% are to be sold to the public via pre-sale, and 20% are for exchanges. Many meme coins, like Dogecoin and Shiba Inu, serve only to spread memes and have no fundamental purpose. Big Eyes lives for the memes too, but also has a heart of gold – this cat is focused on giving back to the community, and the world. 5% of all tokens are held in a visible charity wallet, and these funds are used to support organisations dedicated to protecting marine life. These include ocean sanctuaries, which enable wildlife in the ocean to recover from the debilitating impact of overfishing, plastic pollution, and oil spills. Additionally, Big Eyes frequently contributes to a variety of charities. For instance, their most recent donation was made to the climate justice organisation Sea Shepherd. Big Eyes already has incredibly solid backing behind it and has raised over $9 million so far in the pre-sale, with that figure still rapidly rising every day! To Conclude As the bear market is still lumbering around the crypto space, now is the time to stock up on your favourite coins before the bear goes into hibernation and the next bull run approaches. Bitcoin (BTC) is a great long-term investment to make, although it will not net investors the same meteoric rise in gains that meme coins do. Dogecoin (DOGE) and Big Eyes (BIG) are fantastic choices for meme coins to invest in, as both have bright futures ahead of them. Big Eyes Coin (BIG) Presale: https://buy.bigeyes.space/ Website: https://bigeyes.space/ Telegram: https://t.me/BIGEYESOFFICIAL || Market Wrap: Bitcoin Holds Steady Through FTX Gloom: Price Action Bitcoin, ether and most other major cryptos were holding steady, even as investors wrestled with the widening gloom from exchange giant FTX’s implosion. The largest cryptocurrency by market capitalization was recently holding steady above its most recent $16,000 support, up a fraction of a percentage point over the past 24 hours, although some crypto market observers believe that it could dip to lower levels. This article originally appeared in Market Wrap , CoinDesk’s daily newsletter diving into what happened in today's crypto markets. Subscribe to get it in your inbox every day . “We have seen broader market instability despite some positive macro developments for risk assets as a whole,” David Duong, head of institutional research, at crypto exchange Coinbase, wrote, adding: “It’s still emerging which counterparties may have lent or interacted with either FTX or Alameda (FTX’s sibling company) and what those exact liabilities are. BTC could not only retest 2022 lows but touch the $13K level. We think there is support at $13.5K." Ether was recently changing hands at about $1,200, up slightly. The second-largest crypto in market value and other major altcoins have been caught in the FTX fallout. The exchange filed for bankruptcy protection on Friday, suffered a major hack over the weekend and is the target of regulators worldwide. SRM led a rogues’ gallery of tokens in the red, recently falling close to 20%. On Saturday, DeFi protocols across the Solana ecosystem began unplugging from Serum for fear that they didn’t know who wielded control – a concern fueled by the late-Friday hack at FTX . The Solana Foundation said Monday it has tens of millions of dollars in cryptocurrencies stranded on FTX – as well as 3.24 million common stock shares in Sam Bankman-Fried’s bankrupt crypto exchange. Embattled crypto lender Celsius’ CEL token was down nearly as much, while FTX’s FTT coin fell more than 13% to $1.27, a fraction of its pricing near $36 earlier in the year. XRP was recently up more than 10%. The CoinDesk Market Index , a broad-based index designed to measure the market capitalization weighted performance of the digital asset market, was trading flat. Equity markets broke a recent trend upward with the Nasdaq dropping 1.1%, and the S&P 500 and Dow Jones Industrial Average declining 0.8 and 0.6%, respectively after online retailer Amazon pushed forward with layoffs, part of a larger cost-cutting campaign tied to the company’s pessimistic expectations for the months ahead. FTX’s collapse doesn't mean it will be the end for crypto , venture capitalist Kevin O’Leary told CoinDesk TV’s First Mover program, describing the debacle as a “defining” moment that will “stabilize” the industry. Story continues “This does not kill crypto,” added O’Leary, who said that he had considered rescuing FTX before SEC chief Gary Gensler highlighted anew the industry’s lack of regulation. “There’s going to be a silver lining to this disaster. There’s no question about it. It’ll be called regulation .” Latest Prices CoinDesk Market Index (CMI) 836.53 +3.0 ▲ 0.4% Bitcoin (BTC) $16,390 +34.3 ▲ 0.2% Ethereum (ETH) $1,223 +4.0 ▲ 0.3% S&P 500 daily close 3,957.25 −35.7 ▼ 0.9% Gold $1,775 +8.7 ▲ 0.5% Treasury Yield 10 Years 3.87% ▲ 0.1 BTC/ETH prices per CoinDesk Indices ; gold is COMEX spot price. Prices as of about 4 p.m. ET Technical Take Crypto Turns to an Oil-Patch Tradition to Right Itself By Glenn Williams Jr. The growing push for crypto firms to adopt proof-of-reserves balance sheet validation emulates a practice long used in the physical commodities world. The commodities industry has been using validation for years to assure investors of their solvency and build confidence in those markets and companies. That bitcoin and ether are often referred to as “digital gold” and “digital oil” now seems more appropriate than ever. Oil and gas entities attest to their reserve balances at the end of each year. Investors, analysts and traders are accustomed to reading through these attestations and determining the extent to which a firm’s valuation may or may not have changed. Below is the most recent oil and gas proved reserves report for the U.S., released Jan. 13, 2022. As you can see, the U.S. proved reserves declined 19% between Dec. 31, 2019 and Dec. 31, 2020. U.S. Proved Reserves (Energy Information Association) Read the full technical take here. Altcoin Roundup Solana Foundation Invested in FTX, Held Millions in Sam Bankman-Fried-Linked Cryptos on Exchange: The Solana Foundation said Monday it held 134.54 million SRM tokens and 3.43 million FTT tokens on FTX when withdrawals went dark on Nov. 6. The Foundation also said it has 3.24 million common stock shares in Sam Bankman-Fried’s bankrupt crypto exchange. Following the collapse of FTX, there has been severe sell pressure on the price of SOL as the token is down over 56% in the past seven days to around $13. Read more here. Trending posts Listen 🎧: Today’s "CoinDesk Markets Daily" podcast discusses the latest market movements and a look at one way to embrace regulation. FTX’s Failure Is Sparking a Massive Regulatory Response: Lawmakers, regulators and criminal investigators are looking into FTX’s collapse, and Sam Bankman-Fried’s tweets aren’t helping. FTX Hack or Inside Job? Blockchain Experts Examine Clues and a ‘Stupid Mistake’: Insolvent crypto exchange FTX suffered a $600 million exploit late Friday after filing for bankruptcy protection. Crypto Fund Inflows Surged Last Week as Investors Bought on FTX-Induced Dip: The largest inflows in 14 weeks, at $42 million, coincided with the crypto market's sharp downturn, triggered by the swift collapse of once-billionaire Sam Bankman-Fried’s business empire. Ikigai Asset Management Had 'Large Majority' of Assets on FTX, Unclear Whether It Will Be Able to Continue: Chief Investment Officer Travis Kling tweeted that the hedge fund has only been able to withdraw "very little" of its funds. Visa Ends Its Debit Card Pact With FTX: The original partnership to release crypto debit cards in 40 countries was reported on in October. Health of FTX’s US Derivatives Arm Owed to Oversight, Says CFTC Chief Behnam: The former LedgerX unit seems to be in good shape, Behnam said at a Chicago event, though its controversial application to directly clear customers’ derivatives trades was withdrawn. Bitcoin Miner Bitfarms Pays Down $27M of Debt: The miner is trying to improve its liquidity during the crypto market downturn. View comments || New York State passes two-year moratorium on some crypto mining facilities: New York became the first U.S. state to enact a temporary ban on new cryptocurrency mining permits at fossil fuel plants, despite a strong lobby effort by cryptocurrency industry groups against the measure. See related article: Bitcoin mining difficulty reaches all-time-high despite slump in price, FTX woes Fast facts The legislation, signed into law by Gov. Kathy Hochul, will impose a two-year moratorium on crypto mining companies that are seeking permits to convert fossil fuel plants in the state into mining operations. It also caps the electrical consumption of existing operations at their current levels. Mines seeking to use renewable energy alternatives are unaffected. Cryptocurrency mining is the process of electronically processing cryptocurrency transactions. Bitcoin, the world’s largest cryptocurrency, relies on a proof-of-work ( PoW ) system, where miners compete to process the next group of transactions. The bill is aimed at mitigating and assessing the environmental impact of the industry. The annualized carbon footprint of Bitcoin, the world’s largest cryptocurrency, is comparable to the carbon footprint of the country of Belarus. National cryptocurrency industry groups had unsuccessfully lobbied Hochul, a Democrat, to veto the bill. Hochul defeated a candidate seen as more crypto friendly, Lee Zeldin, in the recent midterm elections . Crypto advocacy group Chamber of Digital Commerce denounced the bill in a statement , arguing “no other industry in the state has been sidelined like this for its energy usage.” See related article: Mining rig maker Canaan’s stocks fall as Q3 profits shrink || First Mover Asia: Possible Legal Filings Could Clarify FTX’s Relationship to Alameda; Bitcoin Hovers Near $17K: Good morning. Here’s what’s happening: Prices: Bitcoin and other cryptos spent their day in the green as investors relished encouraging inflation data. Insights: How intertwined were FTX and Alameda Research? The answer may soon be forthcoming. Prices CoinDesk Market Index (CMI) 861.00 +31.7 ▲ 3.8% Bitcoin (BTC) $16,970 +700.0 ▲ 4.3% Ethereum (ETH) $1,231 +65.7 ▲ 5.6% S&P 500 daily close 3,956.37 +207.8 ▲ 5.5% Gold $1,755 +5.0 ▲ 0.3% Treasury Yield 10 Years 3.83% ▼ 0.3 BTC/ETH prices per CoinDesk Indices ; gold is COMEX spot price. Prices as of about 4 p.m. ET Cryptos See Deep Green as Investors Relish U.S. Inflation Report by James Rubin After rallying on Thursday amid encouraging U.S. inflation data, bitcoin found a happy nesting place near $17,000. The largest cryptocurrency by market capitalization was recently trading at $16,970 a more than 4% gain over the past 24 hours as investors filled with new hope about the economic future returned to riskier assets. At one point, BTC rose more than 13% to trade near $18,000. A Wednesday plunge, spurred by the ongoing FTX unraveling, had sent its price to two-year lows. Ether was recently changing hands over $1,230, up 5.6% from Wednesday, same time. Other cryptos in the top 20 spent Thursday well into the green. In an email to CoinDesk, 3iQ Head of Research Mark Connors noted optimistically that the “one persistent development [distinguishing] the crypto winter from all others is the emergence of ETH dominance as measured by the ETH/BTC ratio.” Other cryptos in the top 20 by market cap, spent the day in the green amid – at least temporarily – waning FTX and inflation fatigue. Even FTX’s beleaguered FTT token, whose accumulation by the exchange’s sister company Alameda Research ignited the current mess, was recently up over 20% to $2.90. Solana’s SOL, which also figured prominently on Alameda’s balance sheet , raising investor alarm, recently rose more than 6%. On Thursday investors had cause for optimism when an unexpectedly positive Consumer Price Index report indicated the U.S. Federal Reserve’s recent diet of hawkish, 75 basis point interest rate hikes were working towards reducing a year-long bout of high inflation. Story continues This article was adapted from Market Wrap , CoinDesk’s daily newsletter diving into what happened in today's crypto markets. Subscribe to get it in your inbox every day . The CoinDesk Market Index , a broad-based index designed to measure the market capitalization weighted performance of the digital asset market, was down about 3%. Stocks soared, staging their biggest rally in two years as investors cheered the heartening price data. The tech-heavy Nasdaq rose 7.3%, while the S&P 500 and Dow Jones Industrial Average (DJIA) increased 5.5% and 3.7%, respectively. In an email, Mati Greenspan, the founder and CEO of research and advisory group Quantum Economics , saw a positive in FTX's disintegration. "In a way, FTX collapsing is a self-inflicted wound by the crypto market intended to prevent bad regulation from killing our future," Greenspan wrote. "I don't think anyone, including CZ [Binance CEO Changpeng Zhao] wished their demise nor the contagion it caused. But frankly I'd much rather see the platform disappear into the void than jeopardize everything we're trying to build." Insights Joined at the Hip? Details About the FTX-Alameda Relationship May Soon Be Forthcoming by Sam Reynolds FTX’s Sam Bankman-Fried publicly claimed that Alameda Research was a “wholly separate entity” from FTX. All the evidence, including corporate filings, pointed to the contrary. The legal fallout from the exchange’s decline, including the increasing possibility of a bankruptcy filing, will clarify how intertwined the two entities have been. Meanwhile, on Thursday, the 30-year-old former billionaire took to Twitter to say Alameda – his empire’s once mighty crypto quant shop and market maker – would go dark "one way or another." A CoinDesk scoop from last week revealed that a notable portion of Alameda’s balance sheet was FTX’s FTT token. Reuters reported Thursday that FTX used customer funds to prop up Alameda Research during market turmoil in May. A filing from Singapore’s corporate registry has shown that Bankman-Fried and other FTX corporate executives retained key roles at Alameda’s Singapore subsidiary. The filing listed Bankman-Fried as an authorized representative, alongside Constance Wang (Wang Zhe), FTX’s chief operating officer, and Darren Wong, FTX’s chief marketing officer. The other representatives on the filing are part of a corporate services firm that helped establish the entity. This Singapore entity is wholly owned by Alameda’s British Virgin Islands parent. There’s also an Alameda Research entity in The Bahamas, as many of the staff are based on the island. There’s no Alameda Research in Hong Kong, but rather a Cottonwood Grove that is controlled by Bankman-Fried (it shares the name with an entity in Antigua). If FTX ends up filing for a U.S. bankruptcy, there will be a document dump, much like in the case of Three Arrows Capital, where all will be laid bare. Meanwhile, the Financial Times has a first look at what it believes is the FTX empire and the results of their research is impressive. Surely regulators like the Commodities Futures Trading Commission were aware of the Alameda-FTX relationship for some time, but this spectacular collapse of the two companies will force them to act. The prevailing narrative of FTX-Alameda had been one of brazen corruption: FTX gives Alameda priority orderflow, allowing its sister hedge fund to front-run other traders. Taking a few privileged basis points on the 3rd largest exchange would be a perpetual money machine. — jonwu.eth (@jonwu_) November 8, 2022 During the GameStop frenzy of early 2021, market maker Citadel Securities came under intense scrutiny for its relationship with brokers. Now imagine if Citadel and the New York Stock Exchange were one and the same. Regulators’ heads explode if Jeffrey Sprecher and Ken Griffin’s names appeared together on a list of a company’s directors. And what do other crypto market makers think of all of this? They don’t like it. One that spoke to CoinDesk on background clarified that market makers and takers (the counterparty) must have equal access to the exchange with no party at an advantage. Exchanges are also not supposed to comingle funds, something Reuters reported FTX is guilty of doing. We’ll learn a lot more if FTX ends up before a bankruptcy court. It’ll probably be the U.S. Bankruptcy Court for the Southern District of New York, which has heard many of the major crypto bankruptcy cases this year. And it might even be the same judge , too. Important events Sharm El-Sheikh Climate Change Conference (Egypt) DCL Metaverse Music Festival 11 p.m. HKT/SNST (3 p.m. UCT): University of Michigan Consumer Sentiment Index (Nov./preliminary) CoinDesk TV In case you missed it, here is the most recent episode of "First Mover" on CoinDesk TV : CFTC Commissioner on FTX Fallout; Bitcoin Pares Losses as Inflation Eases Bitcoin jumped above $17,000 after hitting two-year low. FTX reportedly warned of possible bankruptcy, while Tron's Justin Sun was "putting together a solution." This came as U.S. regulatory scrutiny of FTX was reportedly heating up. CFTC Commissioner Kristin N. Johnson and Citi Digital Asset Analyst Joe Ayoub joined "First Mover" to discuss the latest developments surrounding the FTX fallout. Headlines Revisiting MicroStrategy's Pain Points as Bitcoin Tumbles: This week's plunge in the price of bitcoin again raises questions as to whether Michael Saylor will at some point be forced to sell some or all of his company's vast holdings. FTX Assets Frozen by Bahamian Regulator: The Bahamas Securities Commission said it was a “prudent course of action” to “preserve assets and stabilize the company.” The Role Regulators Played in the FTX Fiasco: The collapse of Sam Bankman-Fried's blockchain empire is a direct result of crypto’s centralized development and lack of U.S. regulations. FTX Has Made $34M in Trading Fees Since Recent FTT Token Burn Despite Withdrawal Freeze: FTX did not report the recent token burn, which was scheduled on Nov. 7. Binance Releases Wallet Addresses of $69B Crypto Reserve: The exchange said it will share its proof-of-funds in the coming weeks. || Bitcoin makes the Guinness World Records list as the first decentralized cryptocurrency: Bitcoin has been added to the latest edition of the Guinness World Records as “the first decentralized cryptocurrency.” See related article:Bitcoin fans pitch Satoshi Nakamoto for Nobel Prize in Economics • Bitcoin also received additional entries to the annual list, now a record holder for the “oldest cryptocurrency,” the “most valuable cryptocurrency” and the “first blockchain.” • The book’s latest edition includes numerous other blockchain-related records, likeKevin McCow’s Quantumas the “first NFT,” and Cryptopunk #5822 as the “most expensive NFT collectible.” • The series of additions is the first time that blockchain and cryptocurrencies have been recognized by the Guinness World Records. • The archival reference list has been documenting world records of human achievements and natural events for the past 67 years, with the first edition of the book appearing in 1955. • Despite the recognition,Bitcoin lost 1.6%of its value within the last 24 hours, trading at US$19,227 at 6:00 pm in Hong Kong, according toCoinGecko. See related article:EU targets Bitcoin with energy efficiency labeling for crypto || S. Korean Authorities Look to Freeze $67M Bitcoin Tied to Terra's Do Kwon: Authorities in South Korea have requested crypto exchanges OKX and KuCoin to freeze some 3,313 bitcoin (BTC), worth around $67 million, tied to Terraform Labs co-founder Do Kwon, CoinDesk Korea reported on Tuesday. The bitcoin was transferred to digital wallets of the exchanges shortly after an arrest warrant was issued for Kwon in South Korea on Sept. 14, according to the report. Authorities accused the crypto entrepreneur of violating the country's securities laws and issued the warrant just months after the collapse of the $40 billion Terra ecosystem , which triggered a market downturn and the collapse of other major players in the industry. While Kwon has maintained he is not on the run , South Korean authorities had asked Interpol for assistance in locating him. On Monday, Interpol put out a Red Notice , which is a request to law enforcement around the world to locate and provisionally arrest Kwon pending extradition, surrender or similar legal action. Blockchain data analytics platform CryptoQuant says a digital wallet for the Luna Foundation Guard (a nonprofit set up in Singapore to promote Terra's growth) was "suddenly" created on crypto exchange Binance on Sept. 15. In the three days that followed, 3,313 BTC were transferred to KuCoin and OKX. In the months before Terra collapsed, the Luna Foundation Guard bought around $1.5 billion worth of bitcoin to beef up the reserves for its stablecoin UST. While KuCoin has frozen some 1354 BTC ($27 million) transferred to the platform, OKX is allegedly "ignoring the prosecution's request to freeze assets" according to the article. CoinDesk has reached out to KuCoin and OKX for comment. Read more: Interpol Issues Red Notice for Do Kwon: Report View comments || Stronghold Digital Mining Reports Third Quarter 2022 Results and Provides Operational Update and Initial 2023 Guidance: Stronghold Digital Mining, Inc. NEW YORK, Nov. 09, 2022 (GLOBE NEWSWIRE) -- Stronghold Digital Mining, Inc. (Nasdaq: SDIG) (“Stronghold,” or the “Company”) today reported financial results for its third quarter ended September 30, 2022 and provided an operational update. Third Quarter 2022 and Recent Operational and Financial Highlights Current liquidity of approximately $27 million comprising $27 million cash plus 19 Bitcoin, current principal amount of debt outstanding of approximately $82 million, and net debt of approximately $55 million (calculated as principal amount of debt outstanding less cash and Bitcoin) as of November 7, 2022, which represents an approximately 51% reduction since June 30, 2022 Fully extinguished $67.4 million in principal value of debt associated with NYDIG ABL LLC (“NYDIG”) and The Provident Bank (“BankProv”) equipment financings on October 26, 2022 by consensually returning approximately 26,000 Bitcoin miners (fewer than 19,000 of which were operating prior to being unplugged in mid-August and returned) Closed Credit Agreement with WhiteHawk Finance LLC (“WhiteHawk) on October 27, 2022 (the “WhiteHawk Credit Agreement”) to nearly triple weighted-average maturity of existing debt from approximately 13 to 36 months, reduce monthly principal payments, and add over $21 million of cash to the Company’s balance sheet Entered into a Settlement Agreement with Northern Data PA LLC (“NDPA”) and 1277963 B.C. Ltd. (“Bitfield”, and together with NDPA, “Northern Data”) on September 30, 2022 (the “Northern Data Settlement Agreement”) to mutually terminate the hosting agreement at what the Company believes are attractive economics to Stronghold (estimated to improve cash flow by a net $10-22 million over the next two years based on certain bitcoin price, network hash rate, hash rate capacity, miner efficiency, and uptime assumptions) Received and/or agreed to procure approximately 10,000 additional Bitcoin miners since August 16, 2022, of which approximately 6,000 have been installed as of November 8, 2022 Entered into a definitive hosting agreement (the “Foundry Hosting Agreement”) with Foundry Digital, LLC (“Foundry”), demonstrating the ability to creatively increase hash rate without significant capital investment Completed major planned maintenance outages at each of the Panther Creek Power Plant (the “Panther Creek Plant”) and Scrubgrass Power Plant (the “Scrubgrass Plant”) and returned both plants to service as expected, demonstrating the ability to generate baseload capacity utilization above a minimum threshold of 80% Providing Initial FY 2023 guidance: total revenue and other income estimated to be $108 to $114 million and Adjusted EBITDA estimated to be $29 to $35 million based on a range of key market assumptions and taking into account the material cost reductions that have been implemented in recent months at our power plants and in general and administrative expenses Management Commentary “We have executed on the major strategic goals we laid out in August during our second quarter earnings announcement; we have reduced leverage, improved liquidity, cut costs and opportunistically grown our mining fleet at attractive prices,” said Greg Beard, co-chairman and chief executive officer of Stronghold. “In late October we fully eliminated our NYDIG debt and closed on the refinanced WhiteHawk debt. We have reduced our net debt by 51% to $55 million since June 30, 2022, and our current liquidity is approximately $27 million. We will remain patient and diligent, and believe we are meaningfully better positioned to take advantage of opportunities in the market.” “Bitcoin mining equipment remains in acute oversupply, and we believe that prices have yet to find a bottom. As we seek to maintain flexibility and maximize capital efficiency, we are excited about the Foundry Hosting Agreement which is a creative—and capital light—way to utilize our energized data center slots, 14,200 of which were made available after the previously disclosed Northern Data Settlement Agreement. The Foundry deal provides Bitcoin exposure to us with an esteemed partner, while requiring minimal upfront investment and opportunity cost.” “Lastly, we believe that we successfully executed on our planned maintenance outages at the Panther Creek Plant and Scrubgrass Plant in September and early October, respectively. We used the downtime to perform a thorough review of the cost structure of our plants, took aggressive steps to accelerate cost reductions expected out of the outages, and believe that we will be able to deliver on our target cost of power of $45 to $50 per MWh in the first quarter of 2023.” “Vertical integration and power market optionality remain as valuable as ever for our business. Even following our recent miner purchases and forward-looking effort to continue refilling our data centers, we plan to continue optimizing between grid sales and Bitcoin mining, especially with seasonally higher winter power prices nearly upon us. Our downside protection, combined with our balance sheet and cost improvements, give us confidence in our ability to emerge from this depressed Bitcoin market in a stronger position than ever.” Liquidity and Capital Resources On October 26, 2022, Stronghold transferred the seventh and final tranche of Bitcoin miners that served as collateral under previous financing agreements with NYDIG, in exchange for the extinguishment of the final amount of approximately $2.1 million of principal amount of debt. Stronghold has now eliminated all outstanding debt, approximately $67.4 million of principal amount, under the legacy equipment financing agreements and consensually returned approximately 26,000 Bitcoin miners to NYDIG and BankProv. On October 27, 2022, Stronghold closed the WhiteHawk Credit Agreement, reflecting the previously announced binding commitment letter to restructure and expand its current equipment financing agreements into a secured, 36-month note. The restructuring nearly tripled the weighted-average maturity from 13 to 36 months, reduced monthly principal payments, and added over $21 million of cash to the Company’s balance sheet. As of November 7, 2022, Stronghold’s liquidity was approximately $27 million, including $27 million cash plus 19 Bitcoin, and the Company had approximately $82 million of principal amount of debt outstanding. Bitcoin Mining Update During the third quarter of 2022, Stronghold earned approximately 567 Bitcoin through its mining operations, a decline of approximately 11% from the 637 awards received during the second quarter 2022. Third quarter 2022 Bitcoin mining operations were negatively impacted by the decrease in the mining fleet associated with the NYDIG debt extinguishment and power plant outages in September and October related to planned maintenance. Since Stronghold announced its second quarter earnings on August 16, 2022, the Company has received or procured approximately 10,000 additional Bitcoin miners with hash rate capacity exceeding 0.9 exahash per second (“EH/s”). This includes (i) approximately 1,500 purchased Bitmain S19 Pro and Bitmain S19j Pro miners (all of which have been received), (ii) approximately 1,000 purchased MicroBT M30S miners (expected to be delivered in the coming days), (iii) approximately 2,300 miners from MinerVa Semiconductor Corp. (“MinerVa”) (nearly 1,200 of which have been delivered to date, of which approximately 780 are Bitmain S19j Pro or T19 miners), (iv) over 4,500 miners related to the Foundry Hosting Agreement (of which over 3,000 have been received, with the remaining miners expected to arrive by the end of November 2022), and (v) additional miners associated with previously disclosed miner purchases. On November 7, 2022, Stronghold entered the Foundry Hosting Agreement. Backed by Digital Currency Group, Foundry is a financing and advisory company focused on digital asset mining and staking and currently operates the largest Bitcoin mining pool in the world. Pursuant to the Foundry Hosting Agreement, Foundry will deliver over 4,500 Bitcoin miners with associated hash rate capacity of approximately 420 PH/s to the Panther Creek Plant, and Stronghold will provide power to the Bitcoin miners and hosting services for a fee of $60 per megawatt-hour (“MWh”), demonstrating Stronghold’s growing ability to provide high-caliber Bitcoin mining services. Pursuant to the Foundry Hosting Agreement, Stronghold will receive 50% of the Bitcoin mined after deducting the $60/MWh, and Stronghold maintains the ability to curtail mining in order to sell power to the PJM grid without penalty. Simultaneously with the Foundry Hosting Agreement, Stronghold and Foundry entered into a non-binding Letter of Intent (the “Foundry LOI”), pursuant to which Stronghold would purchase the 4,500 miners in exchange for giving Foundry a limited amount of cash plus equity and a profit share that applies to the Bitcoin miners as well as to power that is sold to the grid when the miners are curtailed. The Company has already received approximately 3,000 of the Bitcoin miners associated with the Foundry Hosting Agreement and expects to install all remaining miners by the end of November 2022. After giving effect to the Foundry Hosting Agreement, miners returned to NYDIG and BankProv in relation to the debt extinguishment, and other recent miner deliveries and purchases that have been previously disclosed, Stronghold’s Bitcoin mining fleet is expected to total over 25,900 miners with hash rate capacity exceeding 2.3 EH/s, assuming no deliveries from MinerVa beyond the aforementioned 2,300 miners. Of these miners, over 21,500 with hash rate capacity exceeding 1.9 EH/s are associated with self-mining operations and are not subject to a profit share. On September 30, 2022, Stronghold entered into the Northern Data Settlement Agreement to mutually terminate the data center hosting agreement at the Scrubgrass Plant. Pursuant to the Northern Data Settlement Agreement, the profit share with Northern Data has been eliminated and Stronghold will operate the approximately 50 MW of modular miner pods capable of hosting over 14,200 Bitcoin miners, with hash rate capacity of 1.25 to 1.50 EH/s for a de minimis $1,000 per year leasing expense. At the end of the two-year lease term, Stronghold has the option, but not an obligation, to purchase the Northern Data pods for between $2 million and $6 million, depending on prevailing hash price at time, net of up to $1.5 million in expenditures that the Company has the option, but not an obligation, to spend if it deems necessary in order to upgrade or maintain the pods. In exchange, Stronghold will pay Northern Data $4.5 million, of which $3.5 million has been paid thus far in the fourth quarter of 2022, with the remaining $1 million due before November 30, 2022. Stronghold estimates the net cash flow improvement to be between $7 million and $20 million over the next two years based on certain hash rate capacity, miner efficiency and uptime assumptions. Power Assets Update Stronghold owns and operates approximately 165 MW net of environmentally beneficial coal fluidized bed power generation capacity at its Panther Creek Plant and Scrubgrass Plant in Pennsylvania. These are coal refuse reclamation-to-energy plants where waste coal, a byproduct of legacy coal mining operations, is consumed to generate electricity. The Commonwealth of Pennsylvania has designated coal refuse as a Tier II Alternative Energy Source, making the facilities eligible to earn renewable energy credits. During the third quarter of 2022, Stronghold removed approximately 241,000 tons of coal refuse and returned approximately 168,000 tons of beneficial use ash to waste coal sites, facilitating the remediation of these sites. Stronghold generated $11.5 million of energy revenue in the third quarter of 2022, which was up 61% sequentially versus the $7.1 million generated during the second quarter of 2022 and up 379% year-over-year versus the $2.4 million from the third quarter of 2021. Key drivers of the sequential and year-over-year change were higher realized power prices as well as more power sold to the grid versus the prior periods. Stronghold generated $0.9 million of capacity revenue during the third quarter of 2022, down 47% sequentially versus the $1.7 million generated during the second quarter of 2022 and down 18% year-over-year versus the $1.1 million generated during the third quarter of 2021. As previously reported, both plants transitioned from being capacity resources in the PJM market to being energy resources in the PJM market starting in June 2022, which allowed the Company to sell power into the real-time market during the third quarter of 2022 versus being required as a capacity resource to sell power in the day-ahead market during prior periods. The third quarter was impacted by material planned outages at the Panther Creek Plant and the Scrubgrass Plant that spanned the second half of September into early October, during which time the Company generated no energy revenue but incurred substantial maintenance costs and imported electricity from the PJM grid. Planned maintenance events improve plant efficiency and reliability and are a critical part of normal long-term maintenance programs. The Panther Creek Plant took its full outage in September, and the maintenance went as planned. The Panther Creek Plant returned to service in early October and has since performed well, in line with Company expectations for baseload reliability. The Scrubgrass Plant conducted its planned maintenance outage that lasted from mid-September into early October. During the outage, management undertook a thorough review of plant-level profitability and identified opportunities for immediate cost reductions including improved fuel purchasing, headcount reductions, parts inventory procurement and management, and enhanced maintenance planning. Given seasonally low power prices in October, and some additional desired maintenance objectives, management kept the plant offline while it implemented the cost reduction program and improved the fuel mix through accelerated deliveries of low-cost fuel. The plant returned to service in late October following the conclusion of the outage, and management is encouraged by the improved plant performance, which has confirmed that the plant can run above the expected baseload performance threshold of 80% utilization. 2023 Guidance Market Assumptions: Bitcoin mining revenue is based on a hash price of $0.085 per Terahash per second (“TH/s”) per day. Hash price represents global Bitcoin mining revenue per TH/s of network hash rate, incorporates both Bitcoin price and network hash rate and it is calculated as follows: [Bitcoin price] x [number of Bitcoins mined per day (~900)] ÷ [network hash rate (TH/s)]. The table below illustrates estimated combinations of Bitcoin price and network hash rate that result in a hash price of $0.085 per TH/s per day: Bitcoin Price Network Hash Rate $15,000 ~159 EH/s $20,000 ~212 EH/s $25,000 ~265 EH/s $30,000 ~318 EH/s Revenue received for selling electricity to the grid is based on forward prices for the Penelec and Pennsylvania Power & Light zones in PJM Interconnection, LLC, per Priority Power Management as of November 7, 2022. These forward prices imply an average around-the-clock price of approximately $64/MWh for 2023. However, as a result of Stronghold’s ability to curtail Bitcoin miners when grid prices are attractive, Stronghold believes that it can realize a higher average price of $72/MWh. Guidance: Operational FY 2023 Avg. power output (MW) 135 - 140 Avg. hash rate capacity (EH/s) ~3.0 Avg. miner uptime, without miner curtailment (%) 90% Avg. hash rate, with miners curtailed to sell power (EH/s) ~2.4 Financial ($ in millions, unless noted) FY 2023 Total revenue and other income $108 - $114 Recurring fuel and operations and maintenance expenses $56 - $62 $/MWh $46 - $52 Recurring cash general and administrative expenses $18 - $21 Adjusted EBITDA $29 - $35 Third Quarter 2022 Financial Results Revenues in the third quarter of 2022 increased 311% to $24.7 million compared to $6.0 million in the same quarter a year ago. This is primarily due to a $10.2 million increase in cryptocurrency mining revenue from deploying additional miners, and a $9.1 million increase in energy revenue driven by higher prevailing power prices per MW and higher MW generation as a result of the November 2021 Panther Creek Plant acquisition. Operating expenses in the third quarter of 2022 increased 423% to $52.1 million compared to $10.0 million in the same quarter a year ago due to several factors. Operations and maintenance expense increased by $16.6 million as a result of the November 2021 Panther Creek Plant acquisition, higher labor and maintenance costs related to the previously disclosed planned maintenance, and the ramp up of cryptocurrency mining operations. Depreciation and amortization increased by $11.1 million primarily from deploying additional miners and transformers. General and administrative costs increased by $8.2 million due to legal and professional fees, insurance costs, and compensation as the Company continues to organize and scale operations. Fuel expenses increased by $6.1 million driven by higher MW generation, primarily due to the November 2021 Panther Creek Plant acquisition, and increased fuel delivery costs from higher diesel prices. Net loss for the third quarter of 2022 was ($49.6) million compared to a net loss of ($6.3) million for the same quarter a year ago. Adjusted EBITDA for the third quarter of 2022 was a loss of ($3.0) million, compared to $0.0 million for the same quarter a year ago (see reconciliation of Non-GAAP financial measures). Conference Call Stronghold will host a conference call today, November 9, 2022 at 5:00 p.m. Eastern Time (2:00 p.m. Pacific Time) with an accompanying presentation to discuss these results. A question-and-answer session will follow management's presentation. To participate, a live webcast of the call will be available on the Investor Relations page of the Company’s website at ir.strongholddigitalmining.com . To access the call by phone, please use the following link Stronghold Digital Mining Third Quarter 2022 Earnings Call . After registering, an email will be sent, including dial-in details and a unique conference call access code required to join the live call. To ensure you are connected prior to the beginning of the call, please register a minimum of 15 minutes before the start of the call. A replay will be available on the Company's Investor Relations website shortly after the event at ir.strongholddigitalmining.com . About Stronghold Digital Mining, Inc. Stronghold is a vertically integrated Bitcoin mining company with an emphasis on environmentally beneficial operations. Stronghold houses its miners at its wholly owned and operated Scrubgrass Plant and Panther Creek Plant, both of which are low-cost, environmentally beneficial coal refuse power generation facilities in Pennsylvania. Cautionary Statement Concerning Forward-Looking Statements Certain statements contained in this press release, including guidance, constitute “forward-looking statements.” within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify forward-looking statements because they contain words such as “believes,” “expects,” “may,” “will,” “should,” “seeks,” “approximately,” “intends,” “plans,” “estimates” or “anticipates” or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. Forward-looking statements and the business prospects of Stronghold are subject to a number of risks and uncertainties that may cause Stronghold’s actual results in future periods to differ materially from the forward-looking statements. These risks and uncertainties include, among other things: the hybrid nature of our business model, which is highly dependent on the price of Bitcoin; our dependence on the level of demand and financial performance of the crypto asset industry; our ability to manage growth, business, financial results and results of operations; uncertainty regarding our evolving business model; our ability to retain management and key personnel and the integration of new management; our ability to raise capital to fund business growth; our ability to maintain sufficient liquidity to fund operations, growth and acquisitions;; uncertainty regarding the outcomes of any investigations or proceedings; our ability to enter into purchase agreements, acquisitions and financing transactions; public health crises, epidemics, and pandemics such as the coronavirus pandemic; our ability to procure crypto asset mining equipment from foreign-based suppliers; our ability to maintain our relationships with our third party brokers and our dependence on their performance; our ability to procure crypto asset mining equipment; developments and changes in laws and regulations, including increased regulation of the crypto asset industry through legislative action and revised rules and standards applied by The Financial Crimes Enforcement Network under the authority of the U.S. Bank Secrecy Act and the Investment Company Act; the future acceptance and/or widespread use of, and demand for, Bitcoin and other crypto assets; our ability to respond to price fluctuations and rapidly changing technology; our ability to operate our coal refuse power generation facilities as planned; our ability to avail ourselves of tax credits for the clean-up of coal refuse piles; and legislative or regulatory changes, and liability under, or any future inability to comply with, existing or future energy regulations or requirements. More information on these risks and other potential factors that could affect our financial results is included in our filings with the Securities and Exchange Commission, including in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of our Annual Report on Form 10-K filed on March 29, 2022 and our Quarterly Reports on Form 10-Q filed on May 16, 2022, August 18, 2022 and November 9, 2022. Any forward-looking statement or guidance speaks only as of the date as of which such statement is made, and, except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements or guidance, whether because of new information, future events, or otherwise. STRONGHOLD DIGITAL MINING, INC. UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS September 30, 2022 December 31, 2021 (unaudited) ASSETS: Cash and cash equivalents $ 16,723,511 $ 31,790,115 Digital currencies 2,186,704 7,718,221 Digital currencies, restricted - 2,699,644 Accounts receivable 775,038 2,111,855 Due from related parties 58,735 - Prepaid insurance 980,180 6,301,701 Inventory 3,316,716 3,372,254 Assets held for sale 39,008,651 - Other current assets 1,527,938 661,640 Total current assets 64,577,473 54,655,430 Equipment deposits 24,385,876 130,999,398 Property, plant and equipment, net 182,869,685 166,657,155 Land 1,748,439 1,748,440 Road bond 211,958 211,958 Security deposits 348,888 348,888 TOTAL ASSETS $ 274,142,319 $ 354,621,269 LIABILITIES: Current portion of long-term debt, net of discounts and issuance fees $ 90,298,367 $ 45,799,651 Financed insurance premiums 307,385 4,299,721 Forward sale contract - 7,116,488 Accounts payable 28,491,137 28,650,659 Due to related parties 2,212,145 1,430,660 Accrued liabilities 7,385,258 5,053,957 Total current liabilities 128,694,292 92,351,136 Asset retirement obligation 992,201 973,948 Contract liabilities 132,093 187,835 Paycheck Protection Program Loan - 841,670 Warrant liabilities 5,056,065 - Long-term debt, net of discounts and issuance fees 7,607,240 18,378,841 Total long-term liabilities 13,787,599 20,382,294 Total liabilities 142,481,891 112,733,430 COMMITMENTS AND CONTINGENCIES REDEEMABLE COMMON STOCK: Common Stock — Class V; $0.0001 par value; 34,560,000 shares authorized; 27,057,600 and 27,057,600 shares issued and outstanding as of September 30, 2022, and December 31, 2021, respectively. 29,433,528 301,052,617 Total redeemable common stock 29,433,528 301,052,617 STOCKHOLDERS' EQUITY (DEFICIT): Noncontrolling Series A redeemable and convertible preferred stock; $0.0001 par value; $5,000,000 aggregate liquidation value; 1,152,000 and 1,152,000 shares issued and outstanding as of September 30, 2022, and December 31, 2021, respectively. 34,140,047 37,670,161 Common Stock — Class A; $0.0001 par value; 685,440,000 shares authorized; 23,063,813 and 20,016,067 shares issued and outstanding as of September 30, 2022, and December 31, 2021, respectively. 2,307 2,002 Accumulated deficits (211,325,844 ) (338,709,688 ) Additional paid-in capital 279,410,390 241,872,747 Total stockholders' equity (deficit) 102,226,900 (59,164,778 ) Total redeemable common stock and stockholders' equity (deficit) 131,660,428 241,887,839 TOTAL LIABILITIES, REDEEMABLE COMMON STOCK AND STOCKHOLDERS' EQUITY (DEFICIT) $ 274,142,319 $ 354,621,269 STRONGHOLD DIGITAL MINING, INC. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS Three months ended, Nine months ended, September 30, September 30, September 30, September 30, 2022 2021 2022 2021 (unaudited) (unaudited) (unaudited) (unaudited) OPERATING REVENUES: Cryptocurrency mining $ 12,283,695 $ 2,060,523 $ 50,715,424 $ 3,901,426 Energy 11,454,016 2,388,752 26,946,549 5,875,574 Capacity 878,610 1,069,040 4,591,038 2,352,276 Cryptocurrency hosting 93,279 499,724 282,327 1,742,242 Other 39,171 1,674 91,941 34,797 Total operating revenues 24,748,771 6,019,713 82,627,279 13,906,315 OPERATING EXPENSES: Fuel 8,466,588 2,411,186 26,485,096 6,511,706 Operations and maintenance 19,528,088 2,835,315 47,449,177 6,040,173 General and administrative 11,334,212 3,469,830 32,848,291 6,377,677 Impairments on digital currencies 465,651 91,040 8,176,868 466,286 Impairments on equipment deposits - - 12,228,742 - Impairments on miner assets 11,610,000 - 16,600,000 - Realized gain on sale of digital currencies (185,396 ) - (936,506 ) (149,858 ) Loss on disposal of fixed assets 461,940 - 2,231,540 - Realized loss on sale of miner assets - - 8,012,248 - Depreciation and amortization 12,247,245 1,158,374 37,234,126 2,463,549 Total operating expenses 63,928,328 9,965,745 190,329,582 21,709,533 NET OPERATING LOSS (39,179,557 ) (3,946,032 ) (107,702,303 ) (7,803,218 ) OTHER INCOME (EXPENSE): Interest expense (3,393,067 ) (2,460,668 ) (10,813,302 ) (2,594,751 ) Loss on debt extinguishment (28,697,021 ) - (28,697,021 ) - Impairment on assets held for sale (4,159,004 ) - (4,159,004 ) - Gain on extinguishment of PPP loan - - 841,670 638,800 Changes in fair value of warrant liabilities 1,302,065 92,979 1,302,065 (98,498 ) Realized gain on sale of derivative contract 90,953 - 90,953 - Changes in fair value of forward sale derivative - - 3,435,639 - Changes in fair value of convertible note (1,204,739 ) - (2,167,500 ) - Waste coal tax credits - 23,356 53,443 47,152 Other 20,000 10,336 50,000 48,521 Total other income (expense) (36,040,813 ) (2,333,997 ) (40,063,057 ) (1,958,776 ) NET LOSS (75,220,370 ) (6,280,029 ) (147,765,360 ) (9,761,994 ) NET LOSS attributable to noncontrolling interest (44,000,155 ) (4,328,460 ) (86,435,347 ) (6,730,940 ) NET LOSS attributable to Stronghold Digital Mining, Inc $ (31,220,215 ) $ (1,951,569 ) $ (61,330,013 ) $ (3,031,054 ) NET LOSS per share attributable to Class A common shareholders Basic $ (1.27 ) $ (6.05 ) $ (2.82 ) $ (17.05 ) Diluted $ (1.27 ) $ (6.05 ) $ (2.82 ) $ (17.05 ) Weighted average number of Class A common shares outstanding Basic 24,631,626 322,342 21,772,057 173,532 Diluted 24,631,626 322,342 21,772,057 173,532 STRONGHOLD DIGITAL MINING, INC. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS Nine months ended, September 30, 2022 September 30, 2021 (unaudited) (unaudited) CASH FLOWS FROM OPERATING ACTIVITIES: Net loss $ (147,765,360 ) $ (9,761,994 ) Adjustments to reconcile net loss to net cash flows from operating activities: Depreciation and amortization 37,234,126 2,463,549 Gain on extinguishment of PPP loan (841,670 ) (638,800 ) Realized gain on sale of derivative contract (90,953 ) - Loss on disposal of fixed assets 2,231,540 - Write-off of bad debts - 150,162 Realized loss on sale of miner assets 8,012,248 - Amortization of debt issuance costs 2,681,039 643,025 Stock-based compensation 9,123,124 1,246,460 Loss on debt extinguishment 28,697,021 - Impairment on assets held for sale 4,159,004 - Impairments on equipment deposits 12,228,742 - Impairments on miner assets 16,600,000 - Changes in fair value of warrant liabilities (1,302,065 ) 98,498 Changes in fair value of forward sale derivative (3,435,639 ) - Forward sale contract prepayment 970,000 - Changes in fair value of convertible note 2,167,500 - Accretion of asset retirement obligation 18,253 - (Increase) decrease in digital currencies: Mining revenue (50,715,424 ) (3,901,426 ) Net proceeds from sale of digital currencies 46,209,822 434,529 Impairments on digital currencies 8,176,868 466,286 (Increase) decrease in assets: Accounts receivable 1,336,817 (242,489 ) Prepaid insurance 5,321,521 (278,538 ) Due from related parties (58,735 ) 302,973 Inventory 55,538 29,291 Other current assets (866,298 ) (3,713,832 ) Increase (decrease) in liabilities: Accounts payable 4,878,600 21,141,055 Due to related parties 781,485 37,280 Accrued liabilities, excluding sales tax liabilities (407,909 ) 3,832,362 Contract liabilities (55,742 ) 147,836 NET CASH FLOWS (USED IN) PROVIDED BY OPERATING ACTIVITIES (14,656,547 ) 12,456,227 CASH FLOWS FROM INVESTING ACTIVITIES: Purchase of land - (29,919 ) Purchases of property, plant and equipment (68,052,422 ) (34,735,332 ) Proceeds from sale of equipment deposits 13,844,780 - Equipment purchase deposits - net of future commitments (13,656,428 ) (85,624,852 ) NET CASH FLOWS USED IN INVESTING ACTIVITIES (67,864,070 ) (120,390,103 ) CASH FLOWS FROM FINANCING ACTIVITIES: Repayments of debt (34,490,545 ) (7,811,150 ) Repayments of financed insurance premiums (3,992,336 ) - Proceeds from debt, net of debt issuance costs paid in cash 97,337,454 - Proceeds from promissory note - 38,987,333 Proceeds from equipment financing agreement - 24,157,178 Proceeds from PPP loan - 841,670 Proceeds from private placements, net of issuance costs paid in cash 8,599,440 97,064,318 Repayments of EIDL loan - (150,000 ) Repayments of related-party debt - (2,024,250 ) Buyout of Aspen Interest - (2,000,000 ) NET CASH FLOWS PROVIDED BY FINANCING ACTIVITIES 67,454,013 149,065,099 NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (15,066,604 ) 41,131,223 CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD 31,790,115 303,187 CASH AND CASH EQUIVALENTS - END OF PERIOD $ 16,723,511 $ 41,434,410 Use and Reconciliation of Non-GAAP Financial Measures This press release and our related earnings call contain certain non-GAAP financial measures, including Adjusted EBITDA, as a measure of our operating performance. Adjusted EBITDA is a non-GAAP financial measure. We define Adjusted EBITDA as net income (loss) before interest, taxes, depreciation and amortization, further adjusted by the removal of one-time transaction costs, impairment of digital currencies, realized gains and losses on the sale of long-term assets, expenses related to stock-based compensation, gains or losses on derivative contracts, gain on extinguishment of debt, realized gain or loss on sale of digital currencies, waste coal credits, commission on sale of ash, or changes in fair value of warrant liabilities in the period presented. See reconciliation below. Our board of directors and management team use Adjusted EBITDA to assess our financial performance because they believe it allows them to compare our operating performance on a consistent basis across periods by removing the effects of our capital structure (such as varying levels of interest expense and income), asset base (such as depreciation, amortization, impairment, and realized gains and losses on sale of long-term assets) and other items (such as one-time transaction costs, expenses related to stock-based compensation, and unrealized gains and losses on derivative contracts) that impact the comparability of financial results from period to period. We present Adjusted EBITDA because we believe it provides useful information regarding the factors and trends affecting our business in addition to measures calculated under GAAP. Adjusted EBITDA is not a financial measure presented in accordance with GAAP. We believe that the presentation of this non-GAAP financial measure will provide useful information to investors and analysts in assessing our financial performance and results of operations across reporting periods by excluding items we do not believe are indicative of our core operating performance. Net income (loss) is the GAAP measure most directly comparable to Adjusted EBITDA. Our non-GAAP financial measure should not be considered as an alternative to the most directly comparable GAAP financial measure. You are encouraged to evaluate each of these adjustments and the reasons we consider them appropriate for supplemental analysis. In evaluating Adjusted EBITDA, you should be aware that in the future we may incur expenses that are the same as or similar to some of the adjustments in such presentation. Our presentation of Adjusted EBITDA should not be construed as an inference that our future results will be unaffected by unusual or non-recurring items. There can be no assurance that we will not modify the presentation of Adjusted EBITDA in the future, and any such modification may be material. Adjusted EBITDA has important limitations as an analytical tool and you should not consider Adjusted EBITDA in isolation or as a substitute for analysis of our results as reported under GAAP and should be read in conjunction with the financial statements furnished in our Form 10-Q for the quarter ended September 30, 2022. Because Adjusted EBITDA may be defined differently by other companies in our industry, our definition of this non-GAAP financial measure may not be comparable to similarly titled measures of other companies, thereby diminishing its utility. STRONGHOLD DIGITAL MINING, INC. RECONCILATION OF ADJUSTED EBITDA Three months ended, Nine months ended, September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021 (in thousands) (in thousands) (unaudited) (unaudited) (unaudited) (unaudited) Net Income (loss) $ (75,220 ) $ (6,280 ) $ (147,765 ) $ (9,762 ) Interest expense 3,393 2,461 10,813 2,595 Depreciation and amortization 12,247 1,158 37,234 2,464 Impairments on digital currencies 466 91 8,177 466 Impairments on equipment deposits - - 12,229 - Impairments on miner assets 11,610 - 16,600 - One time non-recurring expenses 1 8,218 1,719 14,781 1,788 Stock-based compensation 3,377 977 9,123 1,246 Loss on disposal of fixed assets 462 - 2,232 - Realized loss on sale of miner assets - - 8,012 - Loss on debt extinguishment 28,697 28,697 Impairment on assets held for sale 4,159 4,159 Changes in fair value of forward sale derivative - - (3,436 ) - Gain on extinguishment of PPP loan - - (842 ) (639 ) Realized gain on sale of digital currencies (185 ) - (937 ) (150 ) Changes in fair value of convertible note 1,205 - 2,168 - Changes in fair value of warrant liabilities (1,302 ) (93 ) (1,302 ) 98 Realized gain on sale of derivative contract (91 ) (91 ) Adjusted EBITDA 2 $ (2,965 ) $ 33 $ (148 ) $ (1,893 ) 1 Includes the following non-recurring expenses: out-of-the-ordinary major repairs and upgrades to the power plant, settlement expenses from terminating the Northern Data hosting agreement, legal fees related to the extinguishment of the NYDIG debt, and other one-time items. 2 Adjusted EBITDA has been retrospectively changed to conform with our current methodology of no longer excluding waste coal tax credits as these are a recurring benefit received relating to running the power plants. Investor Contact: Matt Glover or Jeff Grampp, CFA Gateway Group, Inc. [email protected] 1-949-574-3860 Media Contact: [email protected] View comments || Factbox-From Genesis to Voyager, crypto firms' exposure to FTX is coming to light: (Reuters) - After major crypto exchange FTX filed for U.S. bankruptcy protection on Friday, the crypto industry is bracing for further fallout. BlockFi and Genesis, two firms with exposure to FTX or its affiliated crypto trading firm Alameda Research, have suspended customer withdrawals as the market unpacks the extent of FTX's reach. Other crypto firms may be exposed to FTX by having held tokens on the exchange or by owning FTX's native token, FTT, which plunged around 94% last week. Some of FTX's investors have said they are writing their investment down to zero. While the extent of the contagion across crypto markets remains unclear, here are some firms that have given information about their exposure to FTX. GENESIS The crypto lending arm of U.S. digital asset broker Genesis Trading suspended customer redemptions on Wednesday, citing the sudden failure of FTX. Venture capital firm Digital Currency Group, the ultimate parent of Genesis, as well as of crypto asset manager Grayscale, said on Twitter that Genesis' decision to suspend redemptions "was made in response to the extreme market dislocation and loss of industry confidence caused by the FTX implosion." Genesis, which had $2.8 billion in total active loans at the end of the third quarter according to the company's website, said in a tweet on Nov. 10 that its derivatives business has approximately $175 million in locked funds on FTX. "Genesis has no material exposure to FTT or any other tokens issued by centralized exchanges," the firm said in a tweet on Nov. 9. BLOCKFI Crypto lender BlockFi said on Nov. 11 it was pausing client withdrawals until there was clarity on FTX. The crypto exchange had signed a deal with an option to buy BlockFi for up to $240 million, BlockFi said in July. BINANCE Binance Chief Executive Changpeng Zhao sparked concerns among investors on Nov. 6 when he said in a tweet that the crypto exchange would sell its holdings of FTT. Story continues Zhao told a Twitter spaces event on Monday that Binance had previously held $580 million worth of FTT, of which "we only sold quite a small portion, we still hold a large bag." CELSIUS NETWORK Bankrupt crypto lender Celsius Network said in a tweet on Nov. 11 that it had 3.5 million Serum tokens (SRM) on FTX as well as around $13 million in loans to FTX-linked trading company Alameda Research. The loans were under-collateralised, mostly by FTT tokens, Celsius said. COINBASE Coinbase Global Inc said in a blog post on Nov. 8 that it had $15 million worth of deposits on FTX. It said it had no exposure to FTT, no exposure to Alameda Research and no loans to FTX. It said it had $5 billion in cash and cash equivalents at the end of Q3. COINSHARES Crypto asset manager CoinShares has $30.3 million worth of exposure to crypto exchange FTX, CoinShares said in a statement on Nov. 10. CoinShares CEO Jean-Marie Mognetti said the group's financial health remains "strong," adding that its net asset value at the end of Q3 was 240.6 million pounds ($282.51 million). CRYPTO.COM Singapore-based crypto exchange Crypto.com said on Nov. 14 it had moved about $1 billion to FTX over the course of a year, but most of it was recovered and exposure at the time of FTX's collapse was less than $10 million. CEO Kris Marszalek said the firm would prove wrong all naysayers who thought the platform was in trouble, adding it had a robust balance sheet and took no risks. GALAXY DIGITAL Crypto financial services company Galaxy Digital Holdings Ltd said in its third-quarter earnings statement on Nov. 9 - the day after FTX froze withdrawals - that it had $76.8 million worth of exposure to FTX, of which $47.5 million was "in the withdrawal process". In the earnings call, CEO Mike Novogratz said Galaxy had more than $1 billion in cash and $1.5 billion in liquidity. GALOIS CAPITAL Hedge fund Galois Capital had half its assets trapped on FTX, co-founder Kevin Zhou told investors in a recent letter, the Financial Times reported, estimating the amount to be around $100 million. Galois did not respond to requests for comment by Reuters. KRAKEN Cryptocurrency exchange Kraken said on Nov. 10 that it held about 9,000 FTT tokens on the FTX exchange and was not affected "in any material way". Kraken also said on Sunday it had frozen the accounts of FTX, Alameda Research and their executives. SILVERGATE CAPITAL CORP Silvergate Capital Corp said on Nov. 11 FTX represented less than 10% of $11.9 billion deposits from all digital asset customers as of Sept. 30. The financial solutions provider to digital assets also said Silvergate has no outstanding loans or investments in FTX, and that FTX is not a custodian for Silvergate’s bitcoin-collateralized Silvergate Exchange Network (SEN) leverage loans. VOYAGER DIGITAL FTX won crypto lender Voyager Digital's assets in a $1.42 billion bid at an auction in September, months after the lender spurned an earlier proposal and called it a "low-ball bid dressed up as a white knight rescue." Voyager Digital Ltd said on Nov. 11 it had reopened the bidding process for the company and maintained a balance of approximately $3 million at FTX when the crypto exchange filed for protection from creditors. GRAYSCALE Crypto asset manager Grayscale, whose flagship Grayscale Bitcoin Trust (GBTC) is the world's largest bitcoin fund, told investors on Wednesday that the recent market events have had no impact on its product operations or the security of the holdings in its funds. Still, the price of GBTC plunged almost 7% on Wednesday. Digital Currency Group is the parent company of both Genesis and Grayscale, and of other crypto-related companies. ($1 = 0.8516 pound) (Reporting by Elizabeth Howcroft in London, Mehnaz Yasmin and Medha Singh in Bengaluru and Hannah Lang in Washington; Editing by Jan Harvey and Matthew Lewis) || Dogeliens Eyes The Successes Of Dogecoin And Flow In The Crypto Market. Can It Succeed?: The new meme coin, Dogecoin (DOGET), is eyeing the successes of Dogecoin (DOGE) and Flow (FLOW) as it prepares to launch into the cryptocurrency market. Dogeliens (DOGET) intends to ride the wave created by Dogecoin (DOGE) while offering increased utility to its users. Conversely, it intends to hit the ground running with high-priced premium NFTs and rewarding games, just like Flow (FLOW). Can Dogeliens (DOGET) succeed in its quest to match the successes of Dogecoin (DOGE) and Flow (FLOW)? Read on to find out. Dogecoin: The Internet-Sensation Cryptocurrency Despite Dogecoin (DOGE) starting as a fun parody of the coin market, it has risen to list among the most valuable cryptocurrencies by market cap, ranking 10th on CoinMarketCap at the time of writing. The popular meme coin enjoys the same security and decentralization as Bitcoin (BTC), given that it’s a Bitcoin fork. However, unlike Bitcoin (BTC), Dogecoin (DOGE) uses a Scrypt algorithm. This mechanism consumes reduced computation power and enables other tokens to be mined alongside the DOGE token. Consequently, Dogecoin (DOGE) offers lower network fees and faster transaction processing speeds than Bitcoin (BTC). This makes it ideal for micropayments, such as tipping content creators within online social communities. The success of the Dogecoin (DOGE) token has inspired many other meme coins and attracted millions of new users who seek to profit from the crypto market. Flow: The Popular Choice for NFTs Flow (FLOW) is a layer-1 blockchain notable for the many successful NFT projects built on it. Many consider it the ideal alternative to the Ethereum blockchain for launching NFTs and blockchain games. Its open-source blockchain is fast and explicitly built for effective upgrades without sharding. This is due to its Cadence programming language, which allows developers to release Beta versions of their dApps while simultaneously upgrading the codes. The NFT project, NBA Top Shots, is an excellent example of the many successful dApps on the Flow (FLOW) ecosystem. Other popular NFT projects on its ecosystem include SolarPups and Chainmonsters. Story continues Flow’s native currency, FLOW, maintains all operations on the network. It is the network’s principal reserve asset and exchange means. The FLOW token supports staking, rewards, NFT minting, and transactions on the Flow network. Dogeliens: The New Meme Coin Offering Increased Utility Dogeliens (DOGET) is among the many meme coins inspired by Dogecoin’s (DOGE) success in the crypto market. Since Dogeliens (DOGET) is a meme coin, it will have the support of its community, which alone could drive it to massive success. However, Dogeliens (DOGET) goes one step further. It aims to offer more utility to its users by integrating the DeFi and metaverse sectors. Its open-source, DeFi platform enables users to exchange their digital assets in a peer-to-peer (P2P) fashion without the risk of fraudulent intermediaries. It also empowers users to stake their tokens to earn staking rewards. Regarding NFT and play-to-earn use cases, Dogeliens (DOGET) supports its own special metaverse, Puptopia. The virtual world includes Dogeliens pup NFTs, which can be used to play various games. There would also be rewards for game winners and other items to help boost the value of your NFTs. Dogeliens (DOGET) tops it off by building a positive community dedicated to charity. It intends to donate 3% of its token supply to support different charities working to educate the underprivileged. It will also donate 3% of its transaction fees for the same cause. Conclusion By focusing on the metaverse and DeFi sectors of the market, Dogeliens (DOGET) could attain similar levels of success to Dogecoin (DOGE) and Flow (FLOW). The ongoing Dogeliens (DOGET) pre-sale offers crypto users early access to another viable crypto project with huge potential. Pre-sale: https://buy.dogeliens.io/ Website: https://dogeliens.io/ Telegram: https://t.me/DogeliensOfficial [Random Sample of Social Media Buzz (last 60 days)] None available.
Trend: up || Prices: 16464.28, 16444.63, 16217.32, 16444.98, 17168.57, 16967.13, 17088.66, 16908.24, 17130.49, 16974.83
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)] Is The Video Subscription Space Saturated?: The way consumers watch TV has changed drastically over the past few years as the popularity of Internet video sites like YouTube have skyrocketed. Dedicated streaming services likeNetflix, Inc.(NASDAQ:NFLX) and Hulu emerged and their warm reception from American viewers caused traditional broadcasters to rethink their own operations. Now, several big name networks have created their own online, subscription-based services in an effort to give customers more choices for web-based viewing. However, with so many fragmented viewing options out there, many are wondering if the space is starting to become crowded. The All Important Millennial The younger generation is increasingly switching to online viewing, a troublesome sign for traditional cable. Services like Netflix and Amazon offer a wide range of content geared toward that demographic and have become popular choices for Millennials who are cutting the cord. Related Link:Why Netflix's Initial Selloff Was "Correct" However, in an effort to maintain a youthful audience, firms like NBC Universal andCBS Corporation(NYSE:CBS) have launched their own subscription services with content aimed at younger viewers. Stiff Competition NBC Universal recentlyunveileda new streaming offering called Seeso, which will focus on comedy programming. The firm has been working together with non-traditional media companies like BuzzFeed and Vox to attract younger viewers, but the firm will have to compete with a host of other networks that are all doing the same thing. Dish Network's Sling TV, CBS' All Access service and Time Warner's HBO Now are just some of the many online subscription services that Seeso will have to compete with. Cutting The Cord While online viewing is gaining popularity, most agree that at the present moment there is no good way to cut the cord completely. Subscribing to the many online services that have saturated the streaming space would typically cost more than paying a traditional cable bill, so most consumers are choosing one or two online services to enhance their programming. That makes it difficult for new entrants like Seeso as more established names like Netflix are often a top choice. Image Credit: By Taro the Shiba Inu [CC BY 2.0], via Wikimedia Commons See more from Benzinga • Virtual Reality Becomes An Actual Reality With New Oculus Headset • Netflix Viewing Stats Reveal That All Shows Aren't Created Equally • 21 Inc's Bitcoin Computer Seeks To Redefine The Internet © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || MarilynJean Interactive (OTCQB: MJMI) Sets Its Sights on $24B Philippines Remittance Market: HENDERSON, NV / ACCESSWIRE / October 12, 2015 / MarilynJean Interactive ( MJMI ) today announced it has entered into advanced discussions with a provider of Bitcoin-based remittance services. The potential remittance partner is a fully licensed money services business on the cutting edge of the remittance space, using Bitcoin to effect low cost transfers, primarily to the Philippines. With a well-established brand, multiple Bitcoin ATMs, solid financial partnerships in the Philippines, MJMI's management is excited about the potential synergies that could result from this relationship. In 2014, according to Focus Economics, remittances to the Philippines hit a record high, exceeding USD 24 Billion, accounting for roughly 8.5% of that country's GDP. Those funds came primarily from overseas workers sending funds home to their families. Traditional remittance companies charge upwards of 8% fees on the total funds being sent, in addition to less than favorable exchange rates and taking up to 3 days to clear for pick up. Using Bitcoin, transfers can be effected in virtually real time at a fraction of the cost to the user. Funds can be sent directly to the recipient's bank account or made available for pick up at a partner location or even via a card-less ATM withdrawal. In a Bitcoin based remittance transaction, an overseas worker would deliver funds to a remittance provider. This service provider would buy Bitcoin on behalf of the customer and then transfer the coins, paying less than 1% to do so, to the selling partner in the recipient country. The selling partner would then sell the Bitcoins and then transfer the funds to the final recipient. Because there is a price difference between the buying and selling of the Bitcoins, it is possible for the two transfer partners to profit sufficiently from the Bitcoin trade to offer the transfer service for a significantly lower fee than any traditional currency (known as FIAT) based remittance service. Story continues Bitcoin therefore offers the potential to completely alter the landscape of worldwide money transfers. The two companies share a vision on the massive opportunities in this space as well as on the future direction of expansion, namely servicing the remittance markets in Mexico and India. In addition, both companies agree that acquiring and operating a Bitcoin exchange would allow the partners to offer a seamless, end to end solution to customers. More sophisticated clients could eventually use their own Bitcoin wallets to move money through a jointly designed system, allowing them to effect transactions from their mobile phone through a licensed and trustworthy remittance system. Peter Janosi, MJMI's president said: "We are very excited to be in advanced discussions with this potential remittance partner. They are at the forefront what we expect will be a massive shift in the way global remittances are effected. Their team shares our view that remittance fees are exorbitantly high and that current providers profit excessively by offering poor, often hidden, exchange rates. We believe that, in this area, Bitcoin has tremendous promise to disrupt a system that unfairly charges high rates to hard working people who have left their families to work overseas in hopes of providing them with a better life. We believe the growth potential in this sector is massive and that we are on the right track in terms of identifying the right partners who share our vision." MJMI is in the business of providing safe and accessible services for the users of Bitcoin and other crypto-currencies. MJMI is currently exploring partnerships with several existing Bitcoin and crypto-currency exchanges as well as manufacturers and operators of Bitcoin ATMs. Such a combination would place the company in an exciting position to offer an end to end solution for trading in various crypto-currencies and potentially capture a share of the lucrative markets of Bitcoin trading and remittance services, just as these markets appear poised to undergo massive growth. About Bitcoin and Crypto-Currencies: Bitcoin and other crypto-currencies are a medium of exchange using cryptography to secure transactions and control the creation of new units. Bitcoin became the first decentralized crypto-currency in 2009. Crypto-currency is produced at a rate which is defined when the system is created and publicly known. By contrast, in centralized banking and economic systems, such as the Federal Reserve System, corporate boards or governments control the supply of currency by printing units or demanding additions to digital banking ledgers. However, neither companies nor governments can produce units of crypto-currency and as such the value of crypto-currencies are completely based on supply and demand, free from any governmental control. Many people believe crypto-currencies, and in particular bitcoin, hold the promise of being the most significant advancement in global finance in modern history. The advent of bitcoin creates a secure, easily accessible and transferable transnational currency that is completely liberated from political influence. Richard Branson, head of the Virgin Group, is quoted on his company's website as saying: "I have invested in Bitcoin because I believe in its potential, the capacity it has to transform global payments is very exciting." Heavyweight investment bank Goldman Sachs (NYSE:GS), announced on April 30th 2015 that it had partnered with Chinese investment firm IDG Capital partners to invest $50 million in a Bitcoin start-up. Numerous high-profile firms have begun accepting Bitcoin as a payment method including: Dell Inc. (NASDAQ:DELL), Dish Network Corp. (NASDAQ:DISH), Expedia Inc. (NASDAQ:EXPE), and Overstock.com (NASDAQ:OSTK). MarilynJean Media Interactive is among the first publicly traded companies focused on bitcoin and the crypto-currency space. The company's trading symbol is ( MJMI ). Website: http://www.marilynjean.com/ Press Contact: [email protected] SOURCE: MarilynJean Interactive || MarilynJean Interactive (MJMI.QB) Today Announced It Has Entered Into Discussions to Acquire a Share of an Operating Bitcoin Exchange: HENDERSON, NV / ACCESSWIRE / October 30, 2015 / Owning and operating a Bitcoin exchange would allow MarilynJean to seamlessly integrate the currency conversion functions of both its planned remittance and gaming businesses as well as integrate directly with any Bitcoin ATM's the company installs. A Bitcoin exchange is the central component to a fully integrated transaction with an end user that involves both FIAT (traditional currency) and crypto-currency. A Bitcoin exchange works similarly to a stock exchange. A client deposits funds into an account and effects trades pursuant to buy (bid) or sell (ask) orders which the exchange software matches with orders from other users. Because both the buyer and seller must have the funds or Bitcoins in their accounts prior to the transaction being executed, both sides are protected. Users trade directly, as opposed to through brokers, communicating with the exchange through a standard web browser on a computer or mobile device via a secure connection. The exchange operator often takes a small transaction fee on each trade. While MarilynJean intends to trade through multiple exchanges, including major exchanges Bitstamp and Bitfinex, the reduced settlement times that are available as an exchange owner-operator provide significant advantages in international currency conversion and transfer transactions. Peter Janosi, MJMI's president said: "Being able to integrate the key verticals we are targeting, including remittance, gaming and ATMs with our own Bitcoin exchange has the potential to offer tremendous advantages to our company. We intend to trade through multiple exchanges simultaneously to ensure we offer our customers the best rates at the lowest prices. At the same time time, being able to route transactions through a completely integrated system that we monitor and control will allow us to offer even faster transaction processing and better customer service. We are very excited to be in discussions with a potential partner in the exchange space who shares our focus on security and scalability." Story continues About MJMI MJMI is in the business of providing safe and accessible services for the users of Bitcoin and other crypto-currencies. Crypto-currencies are a medium of exchange using cryptography to secure transactions and control the creation of new units. Bitcoin became the first decentralized crypto-currency in 2009. Crypto-currency is produced at a rate which is defined when the system is created and publicly known. By contrast, in centralized banking and economic systems, such as the Federal Reserve System, corporate boards or governments control the supply of currency by printing units or demanding additions to digital banking ledgers. However, neither companies nor governments can produce units of crypto-currency and as such the value of crypto-currencies are completely based on supply and demand, free from any governmental control. Many people believe crypto-currencies, and in particular bitcoin, hold the promise of being the most significant advancement in global finance in modern history. The advent of bitcoin creates a secure, easily accessible and transferable transnational currency that is completely liberated from political influence. MJMI is currently exploring partnerships in several verticals within the crypto-currency space, including the multi-billion dollar remittance market. Management believes that several industries, including both international remittances and online gambling are on the verge of being revolutionized by the use of Bitcoin to effect transactions. MarilynJean Media Interactive is among the first publicly traded companies focused on bitcoin and the crypto-currency space. The company's trading symbol is OCTQB: MJMI. Website: www.marilynjean.com Press Contact: bonnie@mari lynjean.com SOURCE: MarilynJean Media Interactive || WeedLife Steps Up To Fill Marijuana Advertising Gap: The marijuana industry has grown exponentially over the past decade as more and more states legalize the drug for both medicinal and recreational use. However, cannabis-based firms are extremely limited when it comes to getting their names out there as state and federal laws prohibit most forms of advertising. Companies like Google Inc (NASDAQ: GOOG ) and Yahoo! Inc. (NASDAQ: YHOO ) are reluctant to engage with marijuana-related firms, leaving very few options for a pot company trying to get noticed. Advertising regulations for marijuana firms are stricter than that of tobacco and alcohol, making it difficult for dispensaries to reach their target audiences. Related Link: Surprised? Marijuana Use On The Rise At College Campuses Working Together The WeedLife Network is hoping to fill that gap by opening its network to allow legal marijuana advertising. WeedLife Network is a collection of over 40 different websites and apps for marijuana businesses and consumers that generates over 4.5 million page views each month. The company hopes that by expanding its network to include marijuana-based advertisers, it will help propel the industry further by giving cannabis startups the tools they need to reach their customers. The Google Of Marijuana WeedLife Network co-founder Shawn Tapp said he hopes this new offering will draw in new businesses who are struggling to gain exposure. Tapp said that WeedLife will "aim to be the industry's replacement for Google's AdWords." The network will give businesses an easy way to reach their target audience as it already encompasses businesses and consumers interested in the marijuana industry. See more from Benzinga Apple Aims To Read Your Mind Is Europe The New Home For Bitcoin? U.S. Tech Firms Hope To Have A Say In New EU Digital Market Rules © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Your Old Credit Card’s Now Obsolete. Now What?: (Rob Pegoraro/Yahoo Tech) Something weird has been happening to our wallets: Computers have invaded them, one credit card at a time. This overdue migration from cards with magnetic stripes on the back to “EMV” cards that add a tiny computer chip on the front reached a semi-important point Thursday: the “liability shift,” a rebalancing of powers between card issuers and merchants in the U.S. that may change who eats the cost of a bogus transaction. For most of us, Liability Shift Day should be the most boring holiday ever. Only a minority of debit and credit cards have EMV chips (“EMV” stands for“Europay, MasterCard and Visa,” the three parents of the system), and the share ofretailers taking chip paymentsis even smaller. But over time, things will change. Here’s how: How exactly do I pay with a chip? Instead of swiping a card with that satisfying flick of the wrist, you pop the card into a slot in a card terminal. Then you leave it there as the chip generates a one-time code (like the three- or four-digit number on your card for online purchases), the terminal processes the transaction, and you sign to complete it. In my experience, that takes a few seconds longer than a mag-stripe card—assuming the stripe was able to read on the first try, which we all know doesn’t always happen. Where can I pay with the chip? Your chip transactions may be confined to major merchants like Walmart, Home Depot, and Target. It’s not enough to see a “point of sale” terminal with an EMV slot; that part may be inactive. For example, my neighborhood’s Whole Foods accepts Apple Pay and other phone payments but not EMV. Spokesman Michael Silverman said the chain plans to fix that across its stores… by the end of 2016. A complete upgrade across U.S. retail will take longer. On a conference call Wednesday, Visa vice president Stephanie Ericksen said 314,000 establishments take chip payments, up from 55,000 last September—but that’s out of a total of maybe 6 million to 8 million. How do I get EMV versions of my cards? If you haven’t already been issued chipped versions of your cards—those in my wallet reached that blessed statein July—you’ll have to ask your issuer what the holdup is. While you wait, you might as well use that time to shop around and see if you can switch to a card withbetter cash-back or travel rewards. Will chip cards stop data breaches? Sorry, no. With EMV, your card number and expiration date still get sent in the clear to the store and beyond. If somebody hacks the terminal or the software upstream, they can still go to town with your card. “It does not take care of making sure that the data is protected as it travels through the various layers of payment systems,” explained Erik Vlugt, a vice president at the payment-processing firmVeriFone. EMV cards also remain usable if lost or stolen unless they’re further secured with a PIN. That’s common with European but not U.S. cards. (More on that later.) So what security problem does EMV actually solve? Chip cards can’t be cloned the way stripe cards can. Counterfeiting is a huge problem, accounting for37 percent of all U.S. credit-card fraud in 2014—second only after “card not present” theft staged online or over the phone, according to the research firmAite Group. Crooks have had a clear economic incentive to clone cards, security researcher Brian Krebs noted ina 2014 explainer: A counterfeiter “walks into a big box store and walks out with high-priced electronics or gift cards that he can easily turn into cash.” Who pays with the liability shift? Definitely not you — just like today, fraud isn’t your problem as long as you report it. But merchants can pay more, subject to various rules. AsNational Retail Federationgeneral counsel Mallory Duncan summed up in an e-mail: “Whomever has the more evolved equipment (in a counterfeit situation) wins.” That is, if the bank issued a chip card, the crook shows up with a counterfeit version of it, and the merchant doesn’t process chip transactions, the merchant is liable to eat the cost. But it can get complicated: “There are scenarios where both parties accept a certain percentage of the responsibility,” MasterCard product-delivery head Carolyn Balfany said over e-mail. Note, too, that retailers already pay for some fraudulent transactions, as you can see inVisa’s “chargeback” rules. In turn, all of us pay in the form of slightly higher prices, same as we collectively pay for the“shrinkage”of shoplifting and employee theft. What if a store doesn’t take EMV? Good luck judging a store’s security, although some modern payment gadgets likeSquare’s card readersdo encrypt card numbers automatically. If you can use your phone to pay for things, do it. Apple Pay and Android Pay do“tokenization,”meaning they generate a new card number for each transaction. Or you could pay with cash,Bitcoin,bartered chickens, or any other mutually agreeable medium of value. What about chip-and-PIN? You may have read that chip-and-PIN cards are more secure because you have to type a number matching the one stored on the chip. But that’s not why they exist: When EMV cards arrived in Europe, many establishments didn’t have online access to verify transactions with issuers and so needed authentication that worked offline. U.S. banks have avoided PIN because, hey, who wants to remember another number? (A few months ago, Underwriters Laboratories innovations director Maarten Bron said he’d seentoo many chip-and-PIN holders write down their PIN on the back of their cards.) International travelers have complained that signature EMV cards don’t work at kiosks in Europe. Visa’s rules now require those unattended terminals to waive the PIN; it says that in a recent test across five EU states,90 percent of signature-card transactions worked. So how do we stop online fraud? Payment-processing systems can ensure they have nothing worth stealing by not keeping card numbers intact—what Visa calls “devaluing” that data. In that respect, the slow adoption of EMV security could give lagging merchants a chance to jump to an Apple Pay level of security. SaidPCI Security Standards Councilchief technology office Troy Leach: “We’re hoping that they buy the next generation of security, which is encryption and tokenization.” I hope he’s right. But I won’t be too surprised if five years from now, a shop with connectivity issues still has to dust off a“knuckle buster”card imprinter to take my payment on a slip of carbon paper. [email protected]; follow him on Twitter at@robpegoraro. || Is Snoop Dogg's Marijuana Platform Good For The Industry?: Snoop Dogg's persona has long been synonymous with marijuana as the 43-year-old has always been open about his drug use, even before the drug became legal. However, with the marijuana industry growing rapidly and many trying to spread awareness of the drug's medical benefits, some wonder if icons like Snoop Dogg are good for the industry. Merry Jane On Monday, Snoop Doggannouncedplans to create a pot-lifestyle platform called Merry Jane. The site will include news and information about marijuana and is intended to give marijuana enthusiasts a dedicated place to share and read about their hobby. When describing the website, Snoop Dogg said he intends to include cooking tutorials, celebrity appearances and even business advice for gangaprenuers. Related Link:Marijuana Posts A Major Win On The Campaign Trail A Good Move? While Snoop's website will likely appeal to a large number of the nation's pot users, some worry that it sends the wrong message at a time when marijuana needs to be taken seriously. With the 2016 elections coming up, many in the marijuana industry are worried about how a change to the administration could affect their business. Some of the candidates have pledged to reverse decisions regarding pot laws, while others have said they are uncertain about relaxing cannabis laws at a federal level. In order for the marijuana industry to continue growing, federal laws labeling marijuana as a dangerous, criminal substance need to change. One argument for marijuana has been widespread acceptance as more and more people come out in support of the drug. That acceptance has changed the portrait of an average pot smoker from a teenage burnout to an elderly pain patient or a working professional. Such shifts in perception are necessary, some say, in order to convince policy-makers in Washington to take the drug seriously. See more from Benzinga • 21 Inc's Bitcoin Computer Seeks To Redefine The Internet • Apple Moves Forward On Auto Plans • Forget The 2016 Election Candidates, CEOs Are Driving Change © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || NatGas Investing Not For Faint Of Heart: Commodities have been doing horribly; that's not news to anyone. But in a space where prices have continually sunk to new lows across the board, one commodity has managed to outdo them all―natural gas. The worst-performing commodity of the year, natural gas, is down 30 percent in 2015. Due to the ill effects of roll costs from contango, the United States Natural Gas Fund (UNG | B-94) has done even worse, losing 35 percent of its value. At the same time, equities tied to natural gas have been decimated year-to-date, with the First Trust ISE-Revere Natural Gas ETF (FCG | B-95) losing a whopping 46 percent. YTD Returns For Natural Gas Futures, UNG, FCG Unrelenting Production Growth The problem for natural gas is simply that the country has too much of it. Despite the fact that prices are close to the lowest levels in more than a decade below $2/mmbtu, production hasn't flinched. According to the latest data from the Energy Information Administration, output in the U.S. stood at a near-record 81.7 billion cubic feet/day as of last week, up 3 percent from a year ago. U.S. Lower 48 Natural Gas Production (bcf/d) To many, that statistic is confounding. Drilling activity in the energy patch collapsed during the past year due to the simultaneous decline in oil and natural gas prices. Surely that would impact production. At least for oil, it is having an impact. Output of crude in the U.S. is down more than 5 percent from its peak levels. For natural gas, the story is obviously very different. Large natural gas producers like Range Resources and Southwestern Energy continue to report all-time-high production levels, while calling for more growth in the future. The only takeaway is that the marginal cost of natural gas production is much lower than anyone had imagined. Demand Disappoints On the other side of equation is demand, and it's been somewhat disappointing. Industrial demand is actually down marginally this year in spite of the growing economy. Story continues On the other hand, electric power demand has surged, rising nearly 20 percent year-over-year through July. However, the increase is a reflection of significant amounts of coal-to-gas switching and not something that will be repeated year after year. Because natural gas prices are currently so low, when possible, utilities have switched from burning coal to burning gas. The move has decimated the coal industry, which simply can't compete with relatively clean and abundant natural gas. The largest coal producers in the U.S., such as Peabody Energy and Arch Coal, are all on the verge of bankruptcy, with stock prices close to zero. (Incidentally, the two ETFs tied to the coal industry have held up better than one might expect thanks to their international exposure. The Market Vectors Coal ETF (KOL | C-5) , which holds coal producers from around the world, is down only 41 percent this year, while the GreenHaven Coal ETF (TONS | F) , which holds European coal futures contracts, is down 17.3 percent.) YTD Returns For BTU, ACI, KOL, TONS Most of the short-term switching that can be done from coal to gas has already been done. Going forward, natural gas will likely continue to take market share from coal, but at a slower pace. Inventories Bloated The combination of robust supply and a mixed demand picture has kept upside pressure on natural gas inventories. As of last week, stockpiles stood at 3,814 billion cubic feet, 12 percent higher than last year. From a seasonal perspective, inventories tend to peak around early November before steadily declining through March as the winter-heating season boosts demand. However, with weather forecasts calling for warmer-than-normal temperatures for the next couple of weeks, inventory builds could continue for a while longer. It's very likely that in the coming weeks, stockpiles will surpass the record-high of 3,929 bcf set in 2012. Long-Term Exports & Demand Given this dismal outlook for natural gas, is there any hope of a turnaround in the future? Probably not in the short term. Longer term, it's possible, but that hinges on a few factors. Any recovery will have to come from the demand side, because it certainly doesn't look like supply will be slowing down anytime soon. The biggest area of potential gains is in the electric power segment and the liquid-natural-gas export segment. As stated previously, increases in demand for power generation will be smaller than they were this year, but that's a steady source of growth that is likely to continue as utilities transition from dirty coal toward cleaner natural gas. Meanwhile, the U.S. market may get some supply relief as other countries take some of this abundant resource off its hands. In January, Cheniere Energy plans to ship its first cargoes of liquefied natural gas, kicking off a new era of U.S. natural gas exports. This is a sharp reversal from years past when the U.S. was a net importer of the fuel. From current levels around zero, exports may rise to 8.5 billion cubic feet per day by 2019, according to Charles Blanchard, an analyst at Bloomberg New Energy Finance. That represents about 10 percent of current production, and in combination with demand gains in the power sector, could be enough to fuel a meaningful rebound in prices. Playing The Bounce If that happens, natural gas equities will surely follow suit―though it could take a few years for this bullish scenario to develop. The aforementioned FCG, an equal-weighted exchange-traded fund comprising natural gas producers, is the best pure-play ETF on the market. With a basket of equities, an investor doesn't have to contend with the hazards of holding futures, which will take a big bite out of an ETF’s returns like UNG over longer time periods. FCG could certainly decline further from here―it's been a falling knife until now. In a worst-case scenario, the natural gas market could remain mired at low levels for years, as it did in the 1990s. That's the risk an investor has to contend with. But buying into one of the most hated commodities in the market is a high-risk/high-reward bet, best suited for only the most daring investors. Contact Sumit Roy at [email protected] . Recommended Stories High MLP Yields Depend On Oil 2016 Oil: What's In Store? Gundlach: Sell Junk Bonds, Buy India Bitcoin Rally Benefiting ETFs NatGas Investing Not For Faint Of Heart Permalink | © Copyright 2015 ETF.com. All rights reserved || Consumer growth lagging as mobile payments battle rages on: The battle over the future of consumer payments raged on at the Money 20/20 conference in Las Vegas this week, just without consumers, most of whom seem quite content to keep swiping their credit cards or handing over cash instead of adopting the latest in mobile payment technology. JPMorgan Chase ( JPM ) announced that it would offer its own smartphone-based payments service to compete head on with Apple ( AAPL ), Google ( GOOGL ), Samsung and others. Scheduled to arrive in the middle of next year, Chase Pay will be available for all 94 million of the bank's credit and debit card customers. And Chase has signed on a huge array of retailers -- from Walmart ( WMT ) to CVS Health ( CVS ) and Target ( TGT ) — that haven't supported other programs. Samsung said 14 more banks had joined its payments service including Chase, SunTrust Banks ( STI ) and PNC Financial Services ( PNC ). It didn't disclose how many U.S. customers had signed up for the service in its first month but said participating consumers made an average of eight transactions. The company said three out of four transactions used Samsung's unique magnetic secure transmission, or MST, technology, which works at almost any checkout terminal by mimicking an ordinary credit card swipe. "We are seeing early signs of customer adoption and we are very, very encouraged by that," Thomas Ko, general manager of Samsung Pay, told the conference on Wednesday. Apple didn't speak at the conference. Meanwhile, Sridhar Ramaswamy, senior vice president at Google overseeing Android Pay, offered few details on the early performance of that service, revealing only that "millions" of users have signed up for Android Pay since the program launched Sept. 10. When it comes to convenince, cash and credit rule Despite all the talk of mobile payments, consumers are still sticking with their more traditional forms of payment. Two thirds of consumers used cash on a daily basis, 59% used a debit card and 50% used a credit card, according to a survey by Accenture. Only 8% said they used Apple Pay or Google Pay, the prior name of Android Pay, "regularly," while 16% said they used PayPal. Story continues Less than 1% of transactions used Apple Pay at American Eagle Outfitters ( AEO ), an early Apple supporter, Joe Megibow, American Eagle's chief digital officer, revealed on Monday. The reasons are fairly obvious — cash and credit cards are quick and convenient ways to pay that are accepted almost everywhere. Some mobile payments systems work only at a small fraction of all stores, others work with only certain credit cards and none are as convenient as a traditional credit card yet. "We're still plagued by how is this really different in the end from plastic," Greg Weed, director of research at Phoenix Marketing, said. Asked what they'd like to see added to mobile payments services, 64% of consumers said they want to be able to redeem loyalty or rewards program points at the time of purchase, Weed said. And 52% said they wanted the ability to view discounts and deals while at a specific store. All of the announced services have pledged to include loyalty and rewards programs but very few have been offered so far. Consumers are "looking for something beyond the digitization of the swipe," Brian Mooney, CEO of the Merchant Customer Exchange, said. The three year old group, formed by leading retailers, is piloting its own payments app, called CurrentC, which intends to integrate loyalty and rewards programs. Mooney didn't say when the long-delayed service would be generally available but the group is also partnering with Chase's new service. The evolution of Bitcoin Amid all the excitement around digital payments, there was still plenty of talk about the financial world's favorite cryptocurrency, bitcoin. But unlike past years, entrepreneurs are now focused less on bitcoin as a replacement for buying and selling goods and more on the digital currency's infrastructure for securely recording all kinds of dealings. Every bitcoin transaction is recorded in a public ledger known as the blockchain. Nasdaq ( NDAQ ) announced that its pilot using the blockchain to record private stock transactions was a success . The exchange said it had signed up six clients, including messaging service Tango and data security specialist Vera, to use the transaction system as the basis for actual private trades in their shares. Some entrepreneurs are looking to add considerably more transactions onto the block chain, particularly the trillions of dollars per day of trades in public stocks and bonds. The current system makes traders wait three days for transactions to formally settle, but some at the Money conference said a blockchain-based solution could complete deals in a fraction of the time and with improved security and transparency. Three day settlement is "silly, it's downright dumb," famed venture capitalist Vinod Kholsa, who has backed numerous financial technology and bitcoin related start ups, said. || Your Old Credit Card’s Now Obsolete. Now What?: (Rob Pegoraro/Yahoo Tech) Something weird has been happening to our wallets: Computers have invaded them, one credit card at a time. This overdue migration from cards with magnetic stripes on the back to “EMV” cards that add a tiny computer chip on the front reached a semi-important point Thursday: the “liability shift,” a rebalancing of powers between card issuers and merchants in the U.S. that may change who eats the cost of a bogus transaction. For most of us, Liability Shift Day should be the most boring holiday ever. Only a minority of debit and credit cards have EMV chips (“EMV” stands for “Europay, MasterCard and Visa,” the three parents of the system ), and the share of retailers taking chip payments is even smaller. But over time, things will change. Here’s how: How exactly do I pay with a chip? Instead of swiping a card with that satisfying flick of the wrist, you pop the card into a slot in a card terminal. Then you leave it there as the chip generates a one-time code (like the three- or four-digit number on your card for online purchases), the terminal processes the transaction, and you sign to complete it. In my experience, that takes a few seconds longer than a mag-stripe card—assuming the stripe was able to read on the first try, which we all know doesn’t always happen. Where can I pay with the chip? Your chip transactions may be confined to major merchants like Walmart, Home Depot, and Target. It’s not enough to see a “point of sale” terminal with an EMV slot; that part may be inactive. For example, my neighborhood’s Whole Foods accepts Apple Pay and other phone payments but not EMV. Spokesman Michael Silverman said the chain plans to fix that across its stores… by the end of 2016. A complete upgrade across U.S. retail will take longer. On a conference call Wednesday, Visa vice president Stephanie Ericksen said 314,000 establishments take chip payments, up from 55,000 last September—but that’s out of a total of maybe 6 million to 8 million. Story continues How do I get EMV versions of my cards? If you haven’t already been issued chipped versions of your cards—those in my wallet reached that blessed state in July —you’ll have to ask your issuer what the holdup is. While you wait, you might as well use that time to shop around and see if you can switch to a card with better cash-back or travel rewards . Will chip cards stop data breaches? Sorry, no. With EMV, your card number and expiration date still get sent in the clear to the store and beyond. If somebody hacks the terminal or the software upstream, they can still go to town with your card. “It does not take care of making sure that the data is protected as it travels through the various layers of payment systems,” explained Erik Vlugt, a vice president at the payment-processing firm VeriFone . EMV cards also remain usable if lost or stolen unless they’re further secured with a PIN. That’s common with European but not U.S. cards. (More on that later.) So what security problem does EMV actually solve? Chip cards can’t be cloned the way stripe cards can. Counterfeiting is a huge problem, accounting for 37 percent of all U.S. credit-card fraud in 2014 —second only after “card not present” theft staged online or over the phone, according to the research firm Aite Group . Crooks have had a clear economic incentive to clone cards, security researcher Brian Krebs noted in a 2014 explainer : A counterfeiter “walks into a big box store and walks out with high-priced electronics or gift cards that he can easily turn into cash.” Who pays with the liability shift? Definitely not you — just like today, fraud isn’t your problem as long as you report it. But merchants can pay more, subject to various rules. As National Retail Federation general counsel Mallory Duncan summed up in an e-mail: “Whomever has the more evolved equipment (in a counterfeit situation) wins.” That is, if the bank issued a chip card, the crook shows up with a counterfeit version of it, and the merchant doesn’t process chip transactions, the merchant is liable to eat the cost. But it can get complicated: “There are scenarios where both parties accept a certain percentage of the responsibility,” MasterCard product-delivery head Carolyn Balfany said over e-mail. Note, too, that retailers already pay for some fraudulent transactions, as you can see in Visa’s “chargeback” rules . In turn, all of us pay in the form of slightly higher prices, same as we collectively pay for the “shrinkage” of shoplifting and employee theft. What if a store doesn’t take EMV? Good luck judging a store’s security, although some modern payment gadgets like Square’s card readers do encrypt card numbers automatically. If you can use your phone to pay for things, do it. Apple Pay and Android Pay do “tokenization,” meaning they generate a new card number for each transaction. Or you could pay with cash, Bitcoin , bartered chickens , or any other mutually agreeable medium of value. What about chip-and-PIN? You may have read that chip-and-PIN cards are more secure because you have to type a number matching the one stored on the chip. But that’s not why they exist: When EMV cards arrived in Europe, many establishments didn’t have online access to verify transactions with issuers and so needed authentication that worked offline. U.S. banks have avoided PIN because, hey, who wants to remember another number? (A few months ago, Underwriters Laboratories innovations director Maarten Bron said he’d seen too many chip-and-PIN holders write down their PIN on the back of their cards .) International travelers have complained that signature EMV cards don’t work at kiosks in Europe. Visa’s rules now require those unattended terminals to waive the PIN; it says that in a recent test across five EU states, 90 percent of signature-card transactions worked . So how do we stop online fraud? Payment-processing systems can ensure they have nothing worth stealing by not keeping card numbers intact—what Visa calls “devaluing” that data. In that respect, the slow adoption of EMV security could give lagging merchants a chance to jump to an Apple Pay level of security. Said PCI Security Standards Council chief technology office Troy Leach: “We’re hoping that they buy the next generation of security, which is encryption and tokenization.” I hope he’s right. But I won’t be too surprised if five years from now, a shop with connectivity issues still has to dust off a “knuckle buster” card imprinter to take my payment on a slip of carbon paper. Email Rob at [email protected] ; follow him on Twitter at @robpegoraro . || Buying the dip? Consider these 5 stocks: Amid increased market volatility, investors looking for value should keep their eyes on five stocks trading at a discount, CNBC's "Fast Money" pros said. Microsoft(NASDAQ: MSFT)has traded between $40 and $50 a share over the last year. "I think you probably buy it at $40 and sell it at $50," Dan Nathan said. "There's been a premium built in to Microsoft over the last year since Nadella took over," he said. Nathan noted that there's a lot to be optimistic about, but urged investors to be mindful that it is tied to the turbulent PC market. Tim Seymour said he sees upside potential in the aerospace products manufacture United Technologies(NYSE: UTX). "Granted China could get worse... but I think these guys are turning the ship after what was a selloff that was even kind of pre-China," he said. But if you really want to know when the China-driven selloff is over, keep an eye on Apple(NASDAQ: AAPL). Once investors start pilling in on Apple, it means they "fundamentally believe that maybe iPhones are going to surprise," to the upside because everyone has factored in that China, where the iPhone gets most of its profit from, is really hitting a wall, Steve Grasso said. "Maybe they will surprise us. Maybe it's not the watch, maybe it's Apple T.V. as people are suspecting. ... But if the story has fundamentally changed than you just gotta sell Apple and I don't think we're there yet," he added. Brian Kelly is betting on Goldman Sachs(NYSE: GS)to weather the current market storm because "they are gonna be the ones to benefit from this market volatility. "On this list, Goldman Sachs is the way to do it, at least, for the next couple of months," he said. Cisco(NASDAQ: CSCO)is a Dow stock that you buy at a discount, while it's near 52-week lows, Brian Kelly said. "Here is a Dow stock that trades at 10.5 times next year's expected earnings [with a] 3.25 percent dividend yield [and] half that market cap is in cash here," Kelly said, citing the company's recent management changes as additional tailwinds. Disclosures: Tim Seymour Tim Seymour is long AAPL, T, BAC, DIS, F, GE, GM, GOOGL, INTC, JPM, TWTR, Tim's firm is long BABA, BIDU, MCD, NKE, NOK, SBUX, YHOO. Dan Nathan Dan is long QQQ Oct put spread, XBI sept put spread, TWTR, PG. Brian Kelly Brian Kelly is long BBRY, TWTR calls, Bitcoin, U.S. Dollar; he is short British Pound, Euro, Ruble, Yen, Yuan, US Treasurys. Steve Grasso Steve is long AAPL, BA, BAC, CC, DD, DIS, DECK, EVGN, FIT, KBH, MJNA, MU, PFE, PHM, T, TWTR, GDX, firm is long BP, COP, CVX, FCX, OXY, RIG, AMZN, MAT His kids own EFA, EFG, EWJ, IJR, SPY. More From CNBC • Top News and Analysis • Latest News Video • Personal Finance [Random Sample of Social Media Buzz (last 60 days)] In the last 10 mins, there were arb opps spanning 14 exchange pair(s), yielding profits ranging between $0.00 and $210.75 #bitcoin #btc || 1 #bitcoin 715.97 TL, 240.978 $, 213.3 €, GBP, 15407.00 RUR, 28942 ¥, CNH, 317.61 CAD #btc || Current price: 237.19$ $BTCUSD $btc #bitcoin 2015-10-01 00:40:04 EDT || Current price: 247.83$ $BTCUSD $btc #bitcoin 2015-10-12 00:00:07 EDT || Current price: 243.72$ $BTCUSD $btc #bitcoin 2015-10-08 11:00:09 EDT || #RDD / #BTC on the exchanges: Cryptsy: 0.00000005 Bittrex: 0.00000004 Average $1.0E-5 per #reddcoin 12:45:00 || Current price: 247.82$ $BTCUSD $btc #bitcoin 2015-10-12 05:00:08 EDT || Current price: 238.23$ $BTCUSD $btc #bitcoin 2015-10-05 12:00:07 EDT || #RDD / #BTC on the exchanges: Cryptsy: Error Bittrex: 0.00000004 Average $1.3E-5 per #reddcoin 18:00:02 via #priceo…pic.twitter.com/ijDo47rZuJ || #Anoncoin/#ANC price now: $ 0.125171, that's -1.11 % change in 1hour. -2.94 % past day, and -3.59 % in the past week! #Bitcoin is $ 236.00
Trend: up || Prices: 325.43, 361.19, 403.42, 411.56, 386.35, 374.47, 386.48, 373.37, 380.26, 336.82
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 2022-09-16] BTC Price: 19772.58, BTC RSI: 42.69 Gold Price: 1671.70, Gold RSI: 34.12 Oil Price: 85.11, Oil RSI: 41.59 [Random Sample of News (last 60 days)] CBDCs better poised for cross-border payments than Bitcoin, stablecoins: ECB study: Bitcoin is the worst option for increasing the efficiency of cross-border payments while stablecoins occupy an intermediary position, the European Central Bank (ECB) said in a studypublishedMonday. See related article:Cryptocurrency is worthless: ECB Christine Lagarde • Central bank digital currencies (CBDCs) and domestic instant payment systems have the highest potential for making cross-border transactions cheap and immediate, the study said. • Bitcoin cannot solve the challenges of cross-border payments because of its inefficient proof-of-work consensus mechanism, its high volatility, and its use by criminals, the study said. • Stablecoins, on the other hand, pose risks to monetary sovereignty and financial stability in addition to concerns around illicit use, according to the study. • Central banks developing CBDCs should discuss interoperability issues at an early stage to ensure the efficiency of cross-border transactions, the study said. See related article:ECB study says anonymous CBDC may get outshined by private coins || Pain Ahead for Bitcoin & Related ETFs?: Electric car maker Tesla (TSLA) sold $936 million worth of bitcoin during the second quarter, the company said on Jul 20, due to uncertainties related to COVID-19 shutdowns in China. Tesla's remaining digital asset holdings total $218 million, marking a steep decline from its previous stash of $1.2 billion, which had remained the same over the previous three quarters. "As of the end of Q2, we have converted approximately 75% of our Bitcoin purchases into fiat currency. Conversions in Q2 added $936M of cash to our balance sheet," the company said in its earnings release, as quoted on Yahoo Finance. Prior to this move, Tesla company hadn't bought or sold any of its bitcoin holdings since the first quarter of 2021, when it purchased $1.5 billion in bitcoin. The company later sold off 10% of these holdings, which it sold for $272 million in cash. Tesla CEO Elon Musk said, "it should be mentioned that the reason we sold a bunch of our Bitcoin holdings was that we were uncertain as to when the COVID lockdowns in China would alleviate. So it was important for us to maximize our cash position, given the uncertainty of the COVID lockdowns in China,” as quoted on Yahoo Finance. "We are certainly open to increasing our Bitcoin holdings in future," Elon Musk said, "so this should not be taken as some verdict on Bitcoin. It's just that we were concerned about overall liquidity for the company, given COVID shutdowns in China. And we have not sold any of our Dogecoin," as quoted on a Yahoo Finance article. Bitcoin has gone into a tailspin this year along with the broader market crash. The price of this cryptocurrency has nosedived about 57% this year. Notably, bitcoin hit an all-time high of $67.5K in November 2021. After Tesla’s move, bitcoin may see some plunges. Below we highlight a few ETFs that may come under pressure in the coming days. Innovators ETF BITQ The underlying Bitwise Crypto Innovators 30 Index measures the performance of companies involved in servicing the cryptocurrency markets, including crypto mining firms, crypto mining equipment suppliers, crypto financial services companies, or other financial institutions servicing primarily crypto-related clientele. It charges 85 bps in fees. VanEck Digital Transformation ETF DAPP The underlying MVIS Global Digital Assets Equity Index is a rule based, modified capitalization weighted, float adjusted index intended to give investors a means of tracking the overall performance of the global digital asset segment. It charges 50 bps in fees. Defiance Digital Revolution ETF NFTZ The underlying BITA NFT and Blockchain Select Index is rules-based and consists of the common stock of companies that earn a majority of their revenue from activities in the blockchain and cryptocurrency ecosystems or with exposure to the NFT ecosystem. It charges 65 bps in fees. iShares Blockchain And Tech ETF IBLC The underlying NYSE FactSet Global Blockchain Technologies Index composes of U.S. and non-U.S. companies that are involved in the development, innovation, and utilization of blockchain and crypto technologies. The fund charges 47 bps in fees. 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 reportVanEck Digital Transformation ETF (DAPP): ETF Research ReportsBitwise Crypto Industry Innovators ETF (BITQ): ETF Research ReportsDefiance Digital Revolution ETF (NFTZ): ETF Research ReportsiShares Blockchain and Tech ETF (IBLC): ETF Research ReportsTo read this article on Zacks.com click here.Zacks Investment Research || Bitcoin Retraces 3 Weeks of Gains as Analysts Blame Macroeconomic Turmoil: Bitcoin (BTC) erased three weeks of gains after plunging 8.4%, its biggest single-digit decline in two months. The largest cryptocurrency by market capitalization is now trading at about $21,340. Two analysts with whom CoinDesk spoke said investor concerns about inflation and the likelihood of continued monetary hawkishness by the U.S. Federal Reserve had spurred the decline in crypto prices and other riskier assets. The tech-heavy Nasdaq index, whose fluctuations have largely correlated with bitcoin this year, recently fell over 2%. The S&P 500, which has a strong tech component, was down about 1.2%. Paul McCaffery, co-head of equities for investment bank Keefe, Bruyette & Woods, noted the connection between plunging asset prices and Wednesday’s release of minutes from the Federal Open Market Committee’s (FOMC) July meeting showing the U.S. Federal Reserve continues to be concerned about inflation and might not slow the pace ofinterest rate hikessoon. Bitcoin’s price rose last week after an encouraging Consumer Price Index (CPI) suggested the Fed could ratchet back its approach because of easing inflation. McCaffery said crypto performance will depend on macroeconomic conditions and the ongoing development of regulation. Read more:Bitcoin Plunges Most in 2 Months, Dashing Recovery Hopes “The reality is that for now the space is highly correlated to risk assets, so price action will follow the macro narrative for the most part, with the additional factor of global regulatory action weighing on the sector,” McCaffery wrote in an email. Sylvia Jablonski, Defiance ETFs co-founder, CEO and chief investment officer, also highlighted voting and non-voting Fed members’ vocal unease with inflation, which remains at near four-decade highs despite the recent improvement shown by the CPI. “Crypto is now on that list of thoughtful, innovative, disruptive technologies and it's viewed as sort of high risk by the average retail trader,” Jablonski said. “So what happens is they get this bad news, they sort of take it in and, lo and behold, the price of bitcoin falls.” Ether (ETH), the second-largest crypto by market value, had risen sharply over the past month on enthusiasm about the expected September Ethereum protocol change known as the Merge. However, even ether recently fell to around $1,700, down 9.1% over the past 24 hours. Read more:How ‘the Merge’ Will Change the Weird World of Ethereum Mempools || Markets: Bitcoin dips, Ether little changed; Huobi Token surges amid stake sale speculation: Bitcoin fell while Ethereum traded little changed on Friday afternoon in Asia. Huobi Token, the native coin of China crypto exchange Huobi, jumped 18.9% in the last 24 hours after Bloomberg reported its founder was seeking to sell a majority stake in the business. See related article:Markets: Bitcoin, Ether retreat as investors digest inflation, Blackrock developments • Bitcoin was trading at US$23,946, down 2.1% in the prior 24 hours as of 4 p.m. in Hong Kong, while Ethereum dipped 0.47% to change hands at US$1,886,according to datafrom CoinMarketCap. • Support for both major tokens seemed to fizzle out ahead of the weekend after gaining ground earlier in the week on data showing a slower inflation reading in the U.S. and the announcement overnight that asset manager BlackRock wassetting up a Bitcoin investment fund. • Ethereum Classic, the coin from the original network before Ethereum’s previous hard fork, gained 8.18% to US$41.6, reflecting interest ahead of Ethereum’s“Merge”. • Huobi Token, issued by one of the largest crypto exchanges, was changing hands at US$5.26, up 18.67% after Bloombergreportedthat Huobi Group founder Leon Li is in talks to sell his majority stake in the exchange to a number of investors at a valuation of as much as US$3 billion. • Justin Sun, founder of blockchain Tron, and the crypto exchangeFTXare reportedly among those who are in talks with Li. • Sun said on Twitter that “We have not engaged (in) any matters related to the Bloomberg story at this moment.” FTX declined to comment, according to Bloomberg. • Tron, the 17th largest crypto by market cap, edged down 0.46% to US$0.07044, and the FTX Token fell 4.27% to trade at US$30.58. • Asia equity markets had a mixed day. The Nikkei 225 closed up 2.62%, while the Shanghai Composite index was little changed at 0.15% lower. The Hong Kong Hang Seng index nudged up a slight 0.46%. See related article:BlackRock backflips on Bitcoin as latest institution to see promise in crypto || Nasdaq falls with dollar, oil rises; earnings, Fed in focus: By Sinéad Carew NEW YORK (Reuters) - Nasdaq closed lower on Monday after a choppy session for U.S. equities ahead of a big week of technology earnings reports while oil prices rose and treasury yields edged higher as investors braced for a Federal Reserve interest rate hike. In currencies, the dollar index, which touched a 20-year high this month, was down slightly and gold also slipped. On Sunday, U.S. Treasury Secretary Janet Yellen said that while U.S. economic growth was slowing, a recession was not inevitable. Treasury yields edged higher as investors braced for the Fed to raise rates by an expected 75 basis points this week. Some are worried about the potential for recession. Investors were also positioning ahead of earnings in big companies such as Apple, Microsoft and Amazon.com, as well as second-quarter GDP data. "Right now we're just in a holding pattern waiting for all those developments to play out," said Michael O’Rourke, chief market strategist at JonesTrading in Stamford, Connecticut. "People are probably just taking some risk off ahead of the earnings. We've seen interest rates rise a little too so that's helping some of the value names like banks." The Dow Jones Industrial Average rose 90.75 points, or 0.28%, to 31,990.04, the S&P 500 gained 5.21 points, or 0.13%, to 3,966.84 and the Nasdaq Composite dropped 51.45 points, or 0.43%, to 11,782.67. [.N] Earlier, a widely watched survey showed German business morale falling more than expected in July as high energy prices and looming gas shortages push Europe's largest economy towards a recession. But the pan-European STOXX 600 index finished up 0.13%, MSCI's gauge of stocks across the globe gained 0.01%. The German data had weighed on investor moods in Europe along with a slew of downbeat earnings and a survey over the weekend that showed some industrial companies in Germany cutting production in reaction to soaring energy prices. Graphic: PMIs, https://fingfx.thomsonreuters.com/gfx/mkt/zdpxobgmovx/Pasted%20image%201658695330132.png The gap between yields on two- and 10-year Treasury notes US2US10=RR, a possible signal of a looming recession when the short-end yield is higher than the long end, has been inverted for more than two weeks and was last at -21.5 basis points. "This is the first meaningful yield curve inversion we've had since 2006 for any period of time," said David Petrosinelli, senior trader at InspereX, adding that this fed into a generally accepted narrative of a slowdown at the very least. Benchmark 10-year notes last fell 8/32 in price to yield 2.8105%, from 2.781% late on Friday while the 2-year note price last fell 2/32 to yield 3.0266%, down from 2.991% in the previous session. The dollar index fell 0.253%, with the euro up 0.13% to $1.0223. The Japanese yen weakened 0.45% versus the greenback at 136.66 per dollar, while Sterling was last trading at $1.2053, up 0.42% on the day. "Pre-Fed caution is keeping the dollar off its highs. The market is going to be eager to see if the run of softer data has in any way changed the Fed’s hawkish rate path," said Joe Manimbo, senior market analyst at Western Union Business Solutions in Washington, DC. "The economy continues to show pretty solid underlying momentum but at the same time, high inflation, rising interest rates, they are certainly having an impact on the economy." Oil prices rose on Monday, bolstered by a slightly weaker U.S. dollar while investors seesawed between supply fears and bets rising U.S. interest rates could weaken demand. [O/R] U.S. crude settled up 2.11% at $96.70 per barrel and Brent finished at $105.15, up 1.9% on the day. Spot gold dropped 0.5% to $1,718.69 an ounce as investors positioned themselves ahead of the Fed meeting. Bitcoin last fell 2.16% to $22,108.16. (Additional reporting by Herbert Lash and Chuck Mikolajczak in New York, Tommy Wilkes in London, Kevin Buckland in Tokyo, Lucy Raitano in London, editing by Mark Heinrich, Marguerita Choy and David Gregorio) || Ethereum ‘merge’ a ‘very exciting moment’—but not without risk, Cosmos co-founder says: Ethan Buchman, co-founder of the blockchain network Cosmos, seesthe upcoming Ethereum “merge”as a “big deal.” “It’s so far the biggest upgrade to Ethereum, and Ethereum is a big deal,” Buchman tells Fortune, adding that Cosmos and other proof-of-stake projects are “very supportive fans” of Ethereum. “We were all kind of birthed in the Ethereum communities. Our values resonate very heavily.” Once the merge happens, Ethereum will shift from a proof-of-work consensus mechanism toproof of stake—effectively eliminating mining on Ethereum for good, and dramatically reducing its environmental impact. For that reason, among others,many are excited for the merge, as Buchman mentions, but others see the upgrade as a way for Ethereum to “catch up” to other blockchains that have used proof of stake since launching. After all, though Ethereum will use its own proof-of-stake design, and each chain using proof of stake has its own preferred variation, it’s already commonly used. Buchman, for example, has been researching and working on the idea of proof of stake since late 2014 alongside the likes of Ethereum co-creator Vitalik Buterin and Tezos co-creator Arthur Breitman, he said. Buchman’s Cosmos Hub is a proof-of-stake blockchain, which he introduced in 2016 when he and Jae Kwon released its corresponding white paper. According to Buchman, Ethereum as a project has been and continues to be “the most ambitious and difficult.” He cites “constraints,” mainly being that Ethereum “started with a proof-of-work network with the intention of moving to proof of stake later, which makes [changing] more complicated.” Currently, the Ethereum mainnet—or the public, proof-of work-network used by everyone—and the Beacon Chain—the Ethereum proof-of-stake chain—exist in parallel. But post-merge, Ethereum will fully operate as a proof-of-stake chain. And this transition is no easy feat. “The proof-of-stake system is complex. They’re undertaking a big upgrade—the scope of which has never really been attempted before, simply because the Ethereum ecosystem and economy is basically bigger than anyone else except Bitcoin. And that potentially comes with unknown unknowns. There’s certainly a lot of concerns,” said Buchman, who also owns Ether. “From my position, all of this stuff is still extremely risky and experimental, and certainly any kind of major upgrade is.” He noted the possibility of an Ethereum fork—or blockchain split of sorts—post-merge, adding that this happened in 2016 and resulted in the creation of Ethereum Classic. History will likely soon repeat, as a cohort of Ethereum miners recently shared their plans to attempt a fork after the merge to continue the proof-of-work chain in a longshot attempt to try and retain their mining income. “Maybe the proof-of-work chain will continue,” Buchman says. “Whether that’s really a problem or a risk is not clear. It seems like there’s a lot of people hedging the possibility of those forks.” As for other risks, Buchman mentions “sources of instability,” like the possibility for chain downtime or other emergencies, like the system needing “serious maintenance to reboot.” Something could go wrong during the merge activation, among other things. But he isn’t very worried about it—and neither are Ethereum developers. Ethereum has “one of the strongest and most robust engineering teams in the space, and they’ve been working on this thing for a long time. They’ve dealt with and been through the ropes of upgrades,” he said. “It’s certainly a relatively uncertain moment, but it’s a very exciting moment, because of the potential of what’s on the other side.” This story was originally featured onFortune.com || Crypto markets have 'found a floor' as anticipation builds that Ethereum merge is viable in 2022, JPMorgan says: Bitcoin has tumbled in 2022 but JPMorgan has warmed to the asset. Getty Images Crypto prices may have "found a floor" in recent weeks, JPMorgan said in a note on Monday. Bitcoin has jumped 36% from its mid-June low, while ether is up 102% over the same time frame. "We think the real driver has been the Ethereum merge and positive data... indicating the merge is viable in 2022," JPMorgan said. After bitcoin fell as much as 75% from its peak, crypto markets appear to have "found a floor," JPMorgan said in a note on Monday. Bitcoin and ether have surged 36% and 102% from their mid-June lows, respectively, and the total market value of cryptocurrencies has reclaimed the all-important $1 trillion level, according to data from CoinMarketCap. Analysts at JPMorgan said there are two reasons driving the recent strength in the cryptocurrency market. "What has helped, we think, has been more limited new contagion from the collapse of Terra/Luna," JPMorgan said, referring to the stablecoin implosion that led to tens of billions of dollars in losses and sparked a leverage unwind that wiped out crypto firms like hedge fund Three Arrows Capital and crypto broker Voyager Digital. "However, we think the real driver has been the Ethereum merge and positive data following the launch of the Sapolia testnet in early July and Ropsten testnet in June, indicating the merge is viable in 2022," JPMorgan said. The upcoming Ethereum event has been highly anticipated by investors. The merge is designed to transfer the Ethereum blockchain away from a proof-of-work network and instead to a proof-of-stake system, which is supposed to be faster and more efficient from an energy consumption perspective when mining. A successful Ethereum merge later this year should help boost sentiment in the crypto markets, JPMorgan said. The merge is currently expected to take place in September, depending how the upcoming Georli testnet performs. That test is schedule for August 11 and is one of the last steps before the merge. While ether sees a strong resurgence, there's still a long way to go before it and the broader crypto market recover recent losses. Trading volumes in crypto continued to fall in July, and daily trading volumes in NFTs have collapsed 84% year-over-year, JPMorgan said. Ultimately, the ongoing recovery of the cryptocurrency market could hinge on the upcoming Ethereum merge in the short-term as crypto investors look for a much-needed boost in sentiment. Read the original article on Business Insider || GLOBAL MARKETS-World stocks eye sixth day of gains but euro hit as activity sours: * MSCI World index just in the black * U.S. stock futures pare losses ahead of Wall Street open * Euro down vs dollar, but eyes best week in 2 months By Simon Jessop LONDON, July 22 (Reuters) - Global stocks edged up on Friday, eyeing a sixth day of gains, while weak euro zone business activity data hit the euro and weighed on the bloc's debt. The MSCI World index, its broadest gauge of equity markets, was last up 0.1% in early European trade, with the Euro STOXX 50 index up 0.2%. Overnight, the MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.1%, on course for its biggest weekly gain in about two months. U.S. stock futures pointed to a lower open after weak overnight earnings from tech company Snap Inc sounded the alarm among investors ahead of earnings from Twitter Inc later on Friday. S&P 500 futures were last down about 0.3%, with Nasdaq futures down 0.5%. Despite Russian gas flowing back to Europe, for now, and some strong earning reports in the region, political tension in Italy tempered sentiment as did the outlook for further central bank action on both sides of the Atlantic amid rising inflation. The European Central Bank raised interest rates by a bigger-than-expected 50 basis points to zero percent on Thursday, its first hike in 11 years, and ended a policy of negative interest rates that had been in place since 2014. Mark Haefele, chief investment officer at UBS Global Wealth Management, said he remained cautious about the outlook for stocks. "The larger-than expected 50-basis-point hike was positively received by markets, but we retain a cautious view on European stocks as the ECB treads a fine line between fighting inflation and avoiding recession." After initially gaining, the euro pulled back against the dollar and fell further on Friday as traders weighed the likely rates trajectory. It extended losses after weak business activity data hit traders' screens. Euro zone business activity unexpectedly contracted this month, with companies continuing to report rising costs as inflation bites, hitting consumer demand and weighing on the outlook, a survey showed. The euro was last down 0.7% against the dollar at $1.0158 but remains up about 0.6% on the week, on course for its biggest gain in two months. German 10-year debt yields also took a hit on the weak Purchasing Managers Index data, and were last at 1.06%. "July's flash PMIs suggest that the euro-zone is teetering on the brink of recession due to slumping demand and rising costs. At the same time, inflationary pressures remain intense," said Andrew Kenningham, Chief Europe Economist at Capital Economics. Elsewhere in foreign exchange markets, the dollar was up 0.5% against a basket of major peers, buoyed by the euro weakness, but remained on course for its biggest weekly fall since late May as recent weak economic data tempered bets for the size of an expected Federal Reserve interest rate rise. The U.S. Federal Reserve meets to set interest rates next week and expectations of a 100 basis point (bps) hike have faded in favour of pricing for a 75 bps move. Leading cryptocurrency Bitcoin was last up 1.5% to $23,457 and was on course for its best week since last October. Across commodities, oil prices extended early losses, with Brent crude futures down 0.7% and U.S. WTI crude futures down around 1%. Gold edged higher to trade up 0.4% at $1724.3 an ounce. (Additional reporting by Sam Byford in Tokyo and Yoruk Bahceli and Samuel Indyk in London; Editing by Sonali Desai, Lincoln Feast, Edmund Klamann and Kim Coghill) || Market Wrap: Bitcoin Breaks Above $23K as Investor Fears Recede: Hi, I'm Jimmy He, here to take you through the day's crypto market highlights and news. Bitcoin (BTC) broke above $23,000 in Tuesday afternoon trading and was changing hands at around $23,350. In two days, the largest cryptocurrency by market capitalization has climbed by more than 12% and pushed the price to its highest point since bitcoin collapsed on June 13. The Crypto Greed & Fear Index, which tracks investors’ cryptocurrency sentiments, moved from “extreme fear” to “fear” and rose 10 points to 30, the highest since April. Most altcoins gained, with FLOW leading the charts, up 16% over the past 24 hours. Ether (ETH) also climbed, by 6.9% to around $1,560. The second-largest cryptocurrency has been consistently outperforming bitcoin and hit a high of $1,500 on Monday, breaching its 50-day simple moving average ( SMA ). Today’s edition of "Market Wrap" was produced by Sage D. Young. Latest prices ● Bitcoin ( BTC ): $23,183 +7.8% ● Ether ( ETH ): $1,550 +6.4% ● S&P 500 daily close: 3,936.69 +2.8% ● Gold: $1,710 per troy ounce +0.0% ● Ten-year Treasury yield daily close: 3.02% +0.06 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. BTC Finds Support at $20K, Shrugs Off Possibility of 1% Rate Increase for Now By Glenn Williams Jr. Macroeconomic headwinds continue to be the order of the day for BTC’s price or, more directly, inflation expectations and the Federal Reserve’s response. An item for investors to keep an eye on is a recent shift in target rate probabilities for the July 27 Federal Open Market Committee (FOMC) meeting. Per the CME Group’s FedWatch tool (which calculates rate level probabilities for a specific point in time), markets are predicting a 66.8% chance that the FOMC raises interest rates by 0.75% (75 basis points) on July 27. Of note is that seven days prior, that probability stood at 92.4%. Moreover, the probability of a 100 basis point increase in rates moved from 7.6%, to 33.2%. An increase of 100 basis points would likely be received as bearish for crypto prices. (CME FedWatch tool) At the moment, bitcoin traders appear to be taking the shift lightly, as BTC prices are up 3.93% intraday. In our view, few U.S. data points exist between now and the July 27 meeting that are likely to affect probabilities. Investors, however, are likely to monitor Thursday’s Initial Jobless Claims data. The current consensus estimate for initial claims is 240,000 versus actual claims of 244,000 for the prior week. We expect that higher-than-expected jobless claims will deter the Federal Reserve from increasing rates more than 0.75%. Story continues From a technical vantage point today’s increase represents the second consecutive day of higher prices, and the sixth day of higher prices over the last seven. Of note is that both today and Monday’s price increases occurred on higher than average volume (when looking at average volume over the most recent 20 trading days). BTC prices appear to have found support at $20,500 as evidenced by the “high volume node” displayed on the “Visible Range Volume Profile” tool. The VRVP tool displays trading activity at specific price levels over a distinct time period. High volume nodes display price levels where above-average trading volume has occurred, and can serve as indications of support and/or resistance. As implied below, the VRVP shows a visible decline in volume between $25,500 (which we would view as support), and $30,000 (which we would view as resistance). Also of note is the increase in the Relative Strength Index (RSI), which is often used as both a proxy for momentum, and an indication of overbought and/or oversold levels. Traditionally, a level of 30 or below implies oversold conditions, while levels of 70 or above indicate overbought conditions. During the last 30 days, the RSI for bitcoin has increased to 61.58 from a level of 20.36. Prices over that identical time period have increased by 23.5%. (TradingView) Altcoin roundup THORChain Phases Out Support for Rune Tokens: The exchange has activated a “killswitch” that will eventually phase out rune ( RUNE ) based on the Ethereum blockchain and BNB Chain in favor of rune issued on its native blockchain. The move comes weeks after THORChain’s native blockchain went live on seven supported networks. Read more here. Ether Breaches 50-Day Average: Ether ( ETH ) has topped a key technical level for the first time since April, leaving market leader bitcoin ( BTC ) behind. Ether's bounce above the 50-day average may be fleeting, one chartered market technician said. Read more here. Audius to Allow Tips Using Audio Token: The Ethereum and Solana-based music streaming service is offering a new feature for creators to monetize their content by allowing listeners to send tips to artists using the platform’s governance token. Read more here. Relevant insight Listen 🎧: Today’s "CoinDesk Markets Daily" podcast discusses the latest market movements as well as the Fed, inflation and what to expect for the upcoming ETH Merge. Three Arrows Owes Polkadot Developer Moonbeam Foundation Over $27M, Court Documents Show: The hedge fund was also engaged as a “consultant" for Moonbeam-based glimmer and Moonriver-based river tokens. Bored Apes Creator Warns of Threat Group Targeting NFT Communities: Attackers have targeted wallets hosting several high-profile NFT collections in the past few months. US Justice Department Seizes $500K in Ransom Payments and Crypto From North Korean Hackers: Deputy Attorney General Lisa Monaco said the FBI has identified a new type of ransomware used by the state-sponsored hackers. Dragonfly Capital Leads $13M Round for DeFi Infrastructure Startup XLD Finance: XLD offers cross-border financial tools for customers in the Philippines, Indonesia, Malaysia, Vietnam, India and Bangladesh. Fedi to Build Privacy-Focused Bitcoin Mobile App on Fedimint Protocol: The funds from a $4.2M seed round will be used to develop the Fedi mobile app built on top of Fedimint, a Bitcoin “community custody” protocol. Silvergate's Q2 Net Income Jumps 85%, Shares Spike: The crypto bank's stock was up 7.6% in premarket trading. Investment Firm Valkyrie Branches Into Venture Capital With Focus on Israeli Crypto Startups: Veteran venture capitalist Lluis Pedragosa is leading the new team with a $30 million target fund. French Banking Giant BNP Paribas Enters Crypto Custody Space: Sources: The French bank will be working with crypto custody specialist Metaco, which is becoming the go-to provider for banks and institutions looking to enter the crypto space. Social Media Protocol CyberConnect Launches Link3 for Secure Networking: The product is debuting two months after the company raised $15 million in Series A funding. Crypto Mining and Staking Firm Foundry Starts Training Program for Miners : DCG subsidiary Foundry is launching a training program for mining technicians. Other markets Biggest Gainers Asset Ticker Returns DACS Sector Solana SOL +14.3% Smart Contract Platform Loopring LRC +13.8% Smart Contract Platform Cosmos ATOM +13.1% Smart Contract Platform Biggest 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. View comments || Stock Market Today: Stocks Resume Rally on Strong Earnings, Economic Data: green and white arrows going up Getty Images The major market indexes ran higher right from the start on Wednesday – and never looked back. Helping boost investor sentiment were a pair of economic reports that indicated the U.S. economy is still growing. Data from the Institute for Supply Management this morning showed business activity in the services sector hit a three-month high of 56.7% in July. SEE MORE Are We in a Recession? Here's What the Experts Say "The ISM services index not only defied the consensus expectation for a decline, but rose by the most in five months in July," says Wells Fargo senior economist Tim Quinlan. "A jump in new orders bodes well for coming demand, and an array of measures suggests supply chain pressures continue to ease." A separate report showed factory orders were up 2% month-over-month in June, more than economists were expecting. Sign up for Kiplinger's FREE Investing Weekly e-letter for stock, ETF and mutual fund recommendations, and other investing advice. A heavy dose of well-received corporate earnings reports added to the bullish buzz. Among the day's big post-earnings winners were drugmaker Moderna ( MRNA , +16.0%) and fintechs PayPal Holdings ( PYPL , +9.3%) and SoFi Technologies ( SOFI , +28.4%). SEE MORE The 15 Best Growth Stocks to Buy for the Rest of 2022 Technology was the best-performing sector today, surging 2.7%. As such, the tech-heavy Nasdaq Composite outpaced its peers, rising 2.6% to 12,668. Still, the S&P 500 Index (+1.6% at 4,155) and Dow Jones Industrial Average (+1.3% at 32,812) posted solid gains. It was the first win this week for all three indexes. stock price chart 080322 YCharts Other news in the stock market today: The small-cap Russell 2000 spiked 1.4% to 1,908. U.S. crude futures plummeted 4% to finish at $90.66 per barrel after the Energy Information Administration posted a surprise rise in U.S. crude and gasoline inventories. Gold futures snapped their five-day winning streak, shedding 0.7% to end at $1,776.40 an ounce. Bitcoin rose 2.2% to $23,462.92. (Bitcoin trades 24 hours a day; prices reported here are as of 4 p.m.) Robinhood Markets ( HOOD ) jumped 11.7% today after the financial services platform said it was slashing its global workforce by roughly 23%, with most of the layoffs occurring in the operations, marketing and program management divisions. CEO Vlad Tenev said the cuts come amid a "deterioration of the macro environment, with inflation at 40-year highs accompanied by a broad crypto market crash." The company also reported a slimmer-than-expected per-share loss of 34 cents in its second quarter, while revenue of $318 million came in above the consensus estimate. While the layoffs are the headline of the report, says Mizuho Securities analyst Dan Dolev (Buy), the fundamentals show more positives than negatives – including higher quarter-over-quarter sales and average revenue per user. "We believe that once the market digests the 'shock' from the layoff's sheer size, investors will shift focus to fundamentals and path to profitability, which may even result in the stock trading higher tomorrow," Dolev adds. Not all of today's earnings reactions were positive. Match Group ( MTCH ) tumbled 17.6% after the online dating app provider reported lower-than-anticipated revenue of $795 million for its second quarter. The company also gave weak current-quarter revenue guidance and said Tinder CEO Renate Nyborg is leaving. Still, Jefferies analyst Brent Thill maintained a Buy rating on MTCH stock. "In our view, third-quarter revenue guidance is likely conservative to account for potential disruptions," Thill says. "We believe the new [Match Group] CEO Bernard Kim's heightened focused on faster product innovation, an expedited Hinge international rollout and improving monetization at Tinder will be key catalysts for driving accelerating revenue growth in fiscal 2023." Story continues Don't Give Up on Bonds Just Yet Long live the 60-40 portfolio! So says Douglas Beath, global investment strategist for Wells Fargo Investment Institute. Many pundits have declared the traditional portfolio structure – which dictates you allocate 60% to stocks and 40% to bonds – as obsolete following a more than 16% decline in both the S&P 500 and the Bloomberg U.S. Aggregate Bond Index in the first half of 2022. SEE MORE Income-Investing Picks for a Recession But Beath says that while "this year in capital markets is unusual," such calls are "greatly exaggerated," and in fact the 60-40 portfolio "will continue to be an effective strategy for investors." The strategist points to historical returns of bonds, which have provided a "significant hedge" during periods of market volatility, as well as attractive valuations following the recent downturn. And this is why the model is alive and well and continues "to serve as a solid foundation for long-term investors." While investing in individual bonds is impractical for most retail investors, bond funds and bond ETFs allow them to gain exposure to fixed-income assets. Here, we've compiled a list of the 10 bond funds to buy now that cover a wide variety of categories and create diversification for income investors. Karee Venema was long HOOD as of this writing. SEE MORE 12 Best Monthly Dividend Stocks and Funds for the Rest of 2022 You may also like Amazon Ending a Key Perk for Amazon Prime Customers Your Guide to Roth Conversions The Inflation Reduction Act and Taxes: What You Should Know View comments [Random Sample of Social Media Buzz (last 60 days)] None available.
Trend: down || Prices: 20127.58, 19419.51, 19544.13, 18890.79, 18547.40, 19413.55, 19297.64, 18937.01, 18802.10, 19222.67
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)] Santander says first UK bank to use blockchain for overseas payments: By Andrew MacAskill and Huw Jones LONDON (Reuters) - Santander is the first British bank to start using the technology behind virtual currency Bitcoin for recording international payments, and may start rolling out the service to customers next year, the head of innovation at its UK arm said.Blockchain, or distributed ledger technology, creates a shared database in which participants can trace every transaction ever conducted. Its proponents say it has the potential to shake up how financial markets operate.Santander said about 6,000 staff in Britain would be eligible to begin using the technology internally in a pilot program that aims to make the transfer of money faster, more accurate and more transparent. The technology may eventually allow banks to settle the estimated annual $26 trillion of international transactions almost instantaneously. That compares with settlement times of days under the current systems used by banks. "The main customer benefits are certainty of timing, so you know when the payment is going to arrive and certainty of value," said Ed Metzger, head of innovation, technology and operations at Santander UK.Metzger said at the moment when customers transfer money overseas the charges between banks and delivery times are estimates, whereas with this technology when a customer hits send that will be the amount that reaches the recipient account. Blockchain is part of the growing financial technology sector being encouraged by Britain to keep the country's financial sector competitive with New York and Singapore. Santander and other banks such as Citi, BNP Paribas and Goldman Sachs are investing in the sector to avoid being left behind by start-ups racing to apply blockchain in payments, and clearing and settlement of trades. Santander's pilot, however, underscores how the speed that blockchain could offer is shackled by being slotted into slower, legacy payments systems. Metzger said unless all the banks are using the same technology then the "last mile" of its pilot using blockchain will use slower, existing payments links. In March, broker ICAP said it was the first to distribute data on trades to customers using blockchain. (Editing by Mark Potter) || The Japanese yen is skyrocketing: Screen Shot 2016 06 13 at 1.02.09 PM (Investing.com) Good afternoon! The Japanese yen is stronger by 0.8% at 106.12 per dollar as of 1:01 p.m. ET. The yen is "breaking higher and more gains are in store from here with falling global and local bond yields working as the catalyst," wrote Morgan Stanley's Hans W. Redeker in a note to clients. "The deeper global bond yields fall, the more investors express global growth concerns," he added. As for the rest of the world, here's the scoreboard: The British pound is down by 0.2% at 1.4228 after yet another poll showed support for leaving the EU. The latest poll from the Guardian and ICM found that 53% of respondents were pro leaving the EU, while 47% think that the UK should stay. Still, it's notably that the pound is only down by 0.2% right now — whereas last week the British currency crashed after similar results . Bitcoin is up by a whopping 9.5% at 675.720 per dollar ahead of a "halvening" or "halving" later this month . This is a reduction in the amount of bitcoins produced by mining - the process whereby computers dedicate processing power towards creating new bitcoin. The Chinese yuan fell 0.4% to 6.5864 per dollar, and is nearing its weakest level since the first quarter of 2011. Also, China's fixed asset investment slowed to 9.6% through May, the first time it's been below 10% since 2000. Additionally, retail sales rose 10% year-over-year, just missing the 10.1% that was expected. The US dollar index is down by 0.2% at 94.35 on a relatively quiet day for US economic news. NOW WATCH: Japan has built a massive ice wall around Fukushima More From Business Insider The Russian ruble is on fire — here's what's happening in FX The Australian dollar's spiking — here's what's happening in FX The dollar is inching back up — here's what's happening in FX || Bill Ackman, Atlantic City and Goldman Sachs: (Manuel Balce Ceneta/AP)FinanceInsider is Business Insider's midday summary of the top stories of the past 24 hours. To sign up, scroll to the bottom of this page and click "Get updates in your inbox," orclick here. Activist investor Bill Ackman says"of course" he regrets investing in Valeant. "There's been a lot of brain damage in the last five weeks working with the board," he said in an interview with CNBC. Atlantic City justaverted a massive disaster, and three banks just lost close to$100 million from the collapse of another megadeal. Goldman Sachs isgoing down-market, and everyone is looking at Goldman's fixed income businesswhen they should be looking at the equities unit. Morgan Stanley questioned the dominance of Bloomberg,and the response shows just how entrenched it is. Business Insider is reporting from the Milken Institute conference. Economist Mohammed El-Erian painted a prettydepressing picture of the global economyon one panel early Monday. The same panel agreed that there's a word for people whodon't know how to invest in emerging markets: "tourists."Check backhere for more coveragethrough the rest of the day. Lastly, Berkshire Hathaway's annual meeting took place over the weekend. Here'swhat you missed, and here isMyles Udland on what the meeting is really about. Here are the top Wall Street headlines at midday: Craig Wright claims he created Bitcoin-The Australian IT executive who late last year was engulfed by rumors that he invented Bitcoin has claimed he really is behind the digital currency. Forget millennials — these 2 groups are the real future of America's consumers-Everyone keeps talking about millennials and their shopping habits. The biggest names in finance all want the government to do one thing, but it's not going to happen-It can be hard for people on Wall Street to agree on anything. Tesla put a Model X in a giant plastic bubble to test Bioweapon Defense Mode-Tesla's Bioweapon Defense Mode is one of the company's most talked about, but least understood features. China is carrying $1 trillion in bad debt-The amount of debt being carried in the Chinese economy — mostly by state-owned "zombie" companies — is now so high that it could lead to a financial crisis. Meet the billionaires of 740 Park Avenue, one of New York's historic 'Towers of Power'-On a quiet, tree-lined block on the Upper East Side, 740 Park Avenue rises up: a legendary address, at one time considered (and, perhaps, still) the most important residential building in New York City. More From Business Insider • Merger Thursday, Valeant and a shake-up at Bank of America • Yahoo, China and 'a hedge fund killing field' • Ackman, ExxonMobil and a $1 trillion bubble || Bank of Canada studies payments system using tech behind bitcoin: By Ethan Lou and Leah Schnurr TORONTO/OTTAWA (Reuters) - The Bank of Canada is experimenting with a payments system based on the technology behind the bitcoin virtual currency, the central bank said on Thursday. Bank of Canada Senior Deputy Governor Carolyn Wilkins said the central bank has been working with commercial banks to build the experimental interbank payment system. The goal "is solely to better understand the technology first-hand," she said in a statement. "Other frameworks need to be investigated, and there are many hurdles that need to be cleared before such a system would ever be ready for prime time." Wilkins, expected to speak further on the issue on Friday, said the experiment is among many financial technology research projects. Such experiments, she noted, are not aimed at developing central-bank issued e-money‎ for use by the general public. Details of the project, which uses the distributed-ledger technology associated with web-based currency bitcoin, were revealed at a payment-technology event in Calgary on Wednesday that was closed to media. Kyle Kemper, an entrepreneur and head of the Bitcoin Alliance of Canada, who was present at Wednesday's event, said the experiment is called "Project Jasper" and involves blockchain technology. Blockchain's distributed-ledger system allows users to conduct secure transactions with each other without the need for middlemen or central oversight, unlike traditional electronic funds transfers. A slide from a presentation at the event seen by Reuters details how the banks in the experiment would pledge cash collateral in a pool that the Bank of Canada would convert into a digital version. The digital currency would then be used as a medium of exchange and could be converted back to cash. While long known as the backbone of bitcoin, launched under a pseudonym, blockchain has garnered the attention of large financial institutions in recent years. R3, a New York-based research consortium that includes all of Canada's major banks, is a partner in the Bank of Canada's project, along with Payments Canada. Royal Bank of Canada, CIBC, TD Bank and Payments Canada declined to comment. (Reporting by Leah Schnurr and Ethan Lou; Editing by Dan Grebler) || Bitcoin has a governance problem, no matter who created it: (Repeats Friday item) * Bitcoin founder claims provoke fresh bitcoin bickering * System needs to evolve to handle rise in transactions * But lead developers squabble, freeze out one of their peers * System needs "adults" to make decisions - U.S. professor By Jemima Kelly LONDON, May 6 (Reuters) - As one would-be father of bitcoin falls by the wayside, squabbling among the web-based currency's lead developers is exposing a fundamental flaw: it must evolve to meet growing demand, but may lack a governance structure to achieve this. The latest bickering erupted after Australian entrepreneur Craig Wright promised to prove he was the mysterious creator of bitcoin - which allows users to move money across the world quickly and anonymously - but then said on Thursday he could not provide further evidence to back this up. Wright stopped short of reneging on his claim to be Satoshi Nakamoto, assumed to be a pseudonym for the person or people who launched the digital cryptocurrency in 2009. However, he apologised for damaging the reputations of bitcoin experts who had believed him. Many members of the bitcoin community reckon this is all a distraction and agree with Wright when he said that the identity of Nakamoto "doesn't, and shouldn't, matter". "Satoshi's biggest achievement was to create a system that doesn't require his participation to run," said Peter Todd, one of bitcoin's core software developers. "That's what makes all this stuff kind of funny. It's like searching for the creator of a system that's designed not to require a creator." While grey-suited central bankers print conventional currencies and commercial banks control transactions in them, no one person or entity is in charge of bitcoin. Instead it runs on a decentralised system of shared trust without any third-party verification of transactions - one reason why many people are attracted to it. Critics, however, say it needs a "benevolent dictator" or at least some "adults" to manage the expansion that it needs to cope with the increasing number of transactions. Someone, or some group, must decide how to meet users' requirements, they say. Trades are handled by thousands of "mining" computers around the world which validate blocks of transactions by competing to solve mathematical puzzles every 10 minutes. The first computer to solve the puzzle clears the transaction and is currently rewarded with 25 new bitcoins, now worth around $11,250.. This is how the computers' owners cover their costs - largely power bills - and make a profit. The system also ensures there is no single point in the system that might fail. Story continues CIVIL WAR In practice, there do appear to be people who can make decisions, but it is also possible to be excluded from this magic circle. One of the bitcoin experts who initially believed Wright's claim is Gavin Andresen. Nakamoto handed control of bitcoin's software to Andresen when he stepped aside in 2011, a transfer that kept the creator's identity a mystery as it was conducted in cyberspace without human contact. Andresen later shared that control with others. But when he stated publicly he believed Wright, sceptical developers responded by revoking his "commit access" to a shared repository of bitcoin rules. Initially, these developers justified their move on security grounds, saying his computer must have been hacked - something Andresen denied. When Reuters asked Todd whether Andresen's access would be reinstated, he responded: "Heck no", saying a belief in Wright amounted to "inexcusable incompetence". Andresen admitted to bewilderment over whether he still believed Wright's claims. "Ask me in six months; I don't trust my own judgement right now after all the drama," he said on Twitter. The squabbling is not new. One of the lead developers, Mike Hearn, stood down from bitcoin in January because of a power struggle nicknamed the "bitcoin civil war". Hearn and Andresen had proposed increasing the size of the blocks in which transactions are processed but the other developers opposed this. In quitting, Hearn said that "what was meant to be a new, decentralised form of money that lacked systemically important institutions" had now become "a system completely controlled by just a handful of people". Many investors and start-up firms remain optimistic about bitcoin and are making money from it. But Emin Gun Sirer, a computer science professor at Cornell University, said the appearance of internal conflict was undermining it. "For bitcoin to retain its value, it's important to have hope that there's good management in charge, that there are adults in charge," Sirer said. "When we see opportunistic moves, that's a problem." BENEVOLENT DICTATORS But Sirer also said that any open-source project such as bitcoin, which runs using software that anyone can access, change, and distribute, faces the challenge of governance. "Is it a pipe dream to expect to be able to build a currency system that is completely decentralized and free of any control whatsoever? The short answer to that is yes, but that's not what anyone should have expected anyway," he said. Sirer added that he was concerned that his brightest young students at Cornell were being deterred from getting involved with bitcoin because of the in-fighting and the appearance that developers were unable to agree on change. One other digital currency system which is attracting bright young minds is Ethereum, created in 2013 by Russian-Canadian Vitalik Buterin when he was just 19. It works with the "benevolent dictator model", as Sirer calls it, with Buterin holding the decision-making power. "Over the last couple of years it's become apparent that having a static protocol is just not a viable approach," Buterin told the Consensus bitcoin conference in New York earlier in the week. "Software has to evolve ... and there has to be some mechanism for agreeing on how software is going to upgrade." Most, however, reckon that even if Nakamoto were to be found, the other developers - many of whom have written more code than he ever did in the seven years since bitcoin was launched - would not accept his having ultimate power. "(Nakamoto) would be thanked for creating this amazing thing, but if there comes a time when there's a technical debate over whether we should go one way or the other, his opinions would only be persuasive, not controlling," said Jerry Brito, executive director of bitcoin advocacy group Coin Center. (Additional reporting by Toby Sterling in Amsterdam; editing by David Stamp) View comments || Bitcoin hits two-year high as yuan worries drive Chinese demand: By Jemima Kelly LONDON (Reuters) - The price of the web-based digital currency bitcoin soared to its highest in almost two years on Tuesday, rising to more than $500 per unit, as worries about a further weakening of the yuan drove increased demand from China. Trading volumes on the Chinese bitcoin exchange BTCC surged to three to five times their daily average since Friday, according to CEO Bobby Lee, as Chinese savers have moved to protect their money against a further devaluation of the yuan. Bitcoin is a web-based "cryptocurrency" that can move money across the globe quickly and anonymously with no need for a central authority. That makes it attractive to those wanting to get around capital controls, such as China's. Around 95 percent of all bitcoin trading is done via Chinese exchanges, according to industry website Coindesk, so any increase in demand from the Asian super-power tends to have a particularly significant impact. The yuan weakened to a 4 1/2-month low on Tuesday and recorded its second-biggest monthly fall on record in May. Investors reckon it will weaken further, given growing expectations for an increase in U.S. interest rates and signs that China's credit-fuelled economy is slowing again. "People are worrying about the PBOC (People's Bank of China) devaluing the yuan," BTCC's Bobby Lee said from Hong Kong. "If you're in China and you're holding onto that yuan, that's a huge risk, so they're buying into hard assets ... Bitcoin is something that is very easily traded into, so that's what's happening." Despite being championed by some as the digital money of the future, bitcoin is often dismissed as too volatile to invest in. After rocketing above $1,100 in 2013, it then fell to around $150 in early 2015. But it has since recovered, and was the best-performing currency in 2015. Bitcoin hit $548.50 on the Bitstamp exchange on Tuesday, its strongest since August 2014, leaving it up over 20 percent in the past week. Story continues With around 15.5 million bitcoins now in circulation, that puts the currency's total value, or its "market cap", at around $8.5 billion -- about the same size as Anglo American, a global FTSE 100 mining company. Lee added that on his Chinese exchange, the price of bitcoin had at one point rallied above 4,000 yuan, or over $600. That was a sign investors sensed that the yuan was being artificially supported by the PBOC, he said. NEW SUPPLY HALVING Another reason given by bitcoin experts for the currency's latest surge is that in 40 days' time, the number of new bitcoins that are added to the system every day will be halved. By the principles of supply and demand, that slower growth in supply should raise the value of the currency. 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 $13,500. But when it was invented in 2008 by the mysterious "Satoshi Nakamoto", the code 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 10. "Bitcoin is days away from a reduction in its block reward, which will halve the daily supply coming onto the market," said Charles Hayter, CEO of London-based digital currency analysis website CryptoCompare. Hayter added that after months of struggles over how to upgrade the software run by the computers that process bitcoin transactions, dubbed the "bitcoin civil war, developers appeared to be reaching a consensus, which was also helping support the currency. "Bitcoin is emerging battle-hardened after a period of divisive governance issues and politics," he said. "Although not fully laid to rest, calmer waters look to be on the horizon as consensus on how to scale the network is appearing." (Reporting by Jemima Kelly; Additional reporting by Sujata Rao; Editing by Larry King) || Bitcoin experts are baffled that one of their star scientists thinks he’s solved the Bitcoin mystery: Warning: getimagesize(): php_network_getaddresses: getaddrinfo failed: Temporary failure in name resolution in /home/sites/www.businessinsider.com/releases/20160428201955/models/Post.php on line 1606 Warning: getimagesize(http://static3.businessinsider.com/image/57270233910584716f8bfe88/craig%20wright.png): failed to open stream: php_network_getaddresses: getaddrinfo failed: Temporary failure in name resolution in /home/sites/www.businessinsider.com/releases/20160428201955/models/Post.php on line 1606 Warning: Division by zero in /home/sites/www.businessinsider.com/releases/20160428201955/models/Post.php on line 1610 (REUTERS/David McNew)This is what we once thought Bitcoin "Satoshi Nakamoto" looked like. The world, particularly the geek world, can't stand a mystery. That's why there's been so much attention paid to trying to find out who invented Bitcoin, a form of money that lives only on the internet and is created through a complicated set of cryptography security rules. Bitcoin's creator is known as "Satoshi Nakamoto" only no one knows for sure who Satoshi Nakamoto is. On Monday morning, the controversy erupted again when Australian businessman Craig Wrightwrote a blog post claimingto be Satoshi Nakamoto. Wright has been labeled the Bitcoin creator before, in a widely readexpose by Wired in 2015. Wired later admitted it might have fallen for"an elaborate, long-planned hoax." The problem is, that the proofWright offered in his blog post on Monday, as well as the proof in earlier investigative reports on Wright, has been largely discredited. On some levels, the proof isn't that complicated to show. Satoshi Nakamoto owns a unique key. Coded, encrypted messages sent to Satoshi Nakamoto's known public address can only be opened with this key. Although Wright's blog post talked a lot about cryptography and keys, experts who looked at the post said it was at best inconclusive. At worst, they believed it was a charlatan's trick to fool someone without the technical sophistication to understand it. (Screenshot Via BBC)This is Craig Wright, the guy claiming to be Satoshi Nakamoto, but almost no one believes him. Or, ascryptography expert Drew Blas wrote: "Wright's post is flimflam and hokum which stands up to a few minutes of cursory scrutiny, and demonstrates a competent sysadmin's level of familiarity with cryptographic tools, but ultimately demonstrates no non-public information about Satoshi." Another crypto expert, Dan Kaminsky, examined the proof, andlabeled it "intentional scammery." And based on this stuff, anybody who's anyone would likely dismiss Wright's claims but for one thing: One of the most respected public figures in the Bitcoin world, Bitcoin Foundation chief scientist, Gavin Andresen, believes Wright. Andresen published hisown blog post on Mondaywhere he said Craig Wright is indeed Satoshi Nakamoto and that Wright proved it to him. Andresen didn't share the technical proof. Peopledon't understand why Andresen believes Wrightwhen there's evidence that directly contradicts Wright's claims. People then started wondering if Andresen'sblog and accounts were hacked. (Gavin Andresen)Respected Bitcoin developer Gavin Andresen believes Craig Wright is "Satoshi Nakamoto." And then the Bitcoin community took the shocking move ofbanning Andresen from directly contributing code to the Bitcoin project,at least for now. They blocked his Github account from being able to add new code to the Bitcoin project. ThenAndresen said in a public talk on Monday that, no,his accounts were not hacked. He really believes Wright is the father of Bitcoin. And the stalemate continues. One of the smartest guys involved in Bitcoin thinks Wright is Satoshi Nakamoto while most of the other smart people involved do not. As Dan Kaminsky wrote in hispostabout it all: "UPDATE: *facepalm*" Andresen has not yet responded to a request for comment. NOW WATCH:ASSAULT RIFLES AND BATH SALTS — John McAfee tells the inside story behind his outrageous viral video More From Business Insider • 'Bitcoin is dead' • Airbnb just brought on a team of bitcoin experts from a tiny startup • The mysterious creator of bitcoin has been nominated for the Nobel Prize in Economics || 4 Ways to Raise a Philanthropic Kid: When parents teach money lessons to their children , it's a good time to incorporate the idea of charitable giving. Many children are naturally compassionate and there are ways parents can guide those thoughtful impulses. Experts in the philanthropic sector say parents can start at a very early age to encourage a charitable mindset in kids, even before children fully understand the concept. Jacob Harold, president and chief executive officer at GuideStar, which collects and presents information on U.S. nonprofit companies, says his 14-month-old son is starting to show signs of generosity, which he and his wife are trying to encourage. [See: 9 Ways to Harness the Growth of Latin America .] "In the last few weeks, he will take some of the food that my wife and I give him, and he tries to give some of it back to us. We always try to accept and celebrate that generosity that he is starting to exhibit," Harold says. As children grow, there are ways to encourage giving , and experts offer age-appropriate tips on how parents can raise a philanthropic child. Communication. Talking about what children may see in their daily life is a good way to teach them how to connect their world and charitable acts. Peter Borish, chief strategist with Quad Group and founding member of the Robin Hood Foundation, which works with families in New York's poorest neighborhoods, says when families volunteer, particularly when there is interaction between volunteers and those being served, it's important to talk about the experience. "Say if you serve at a soup kitchen, you can facilitate a discussion. Ask, 'what did you see and learn?' One shouldn't be embarrassed or uncomfortable in a situation with people who are different from you or who are in less-fortunate circumstances. If you don't speak about something, it eventually becomes unspeakable," Borish says. Harold says some parents might only point out problems that need to be addressed, such as homelessness, but philanthropy also looks at the good people have done to benefit others. He says visiting art or science museums are a great way to talk about the people who built them and the need for that type of philanthropy. "Those are chances to educate in general, but also to help kids to understand that there are problems and opportunities, and it takes human action and human resources to address those problems and capture those opportunities," he says. Time, treasury, talent. Stacey Rago, executive director of Chicago Charity Challenge, which teams businesses with charities to support employee giving, says philanthropy comes in three forms -- donating time through volunteering, donating money or donating skills -- and they all have value. Story continues "When you're 5 what do you have to offer? You offer your time. And believe me, seniors (at nursing homes) think kids are the best thing ever. Now that my kids are teens ... we've talked about the talent piece. My kids sing carols at the hospital," for instance, Rago says. Lisa Petersen, volunteer manager at Horizons for Youth, a Chicago-based social service agency, says even kindergarteners can volunteer time, which shows them that their time is valuable as a resource. Age-appropriate activities help children tie what they are doing with the cause. Rago says when it comes to volunteering, it's important to do it repetitively so the lessons sink in. [See: 8 Soaring Stocks That Suffered the Big Bounce .] Parents can also talk about when it's appropriate to donate time, treasury or talent, as not every action is desirable at the same time. Rago says sometimes volunteers are helpful, while other times nonprofit organizations can spend the money more efficiently. Make it fun . Bringing friends can also make volunteering fun, Petersen says. This way children don't feel like they're by themselves, and older kids don't feel like they're stuck with parents. "If they're doing it with a friend, they're bonding and building that relationship. It seems more fun than it would be by itself," she says. Parents can encourage kids to research topics, including which organizations are doing good work, how to find them and how to decide if the organization is a good fit, Harold says. "Making the world better is often fun. And it can be really interesting, too," he says. "We can capture not just compassion, but also capture curiosity." Harold says websites like Volunteermatch.org are helpful for people seeking volunteer opportunities because nonprofits post what they need. The website has a filter for kids' activities, along with other filters. Let them choose . Once children have had a few experiences volunteering, they may want to choose their own causes, Borish says. Choosing their own charities is not unlike the way parents let children choose their own hobbies. "It's similar to, when you're young, asking your child, do you like basketball, do you like baseball or ice skating. You're sort of indifferent to it, as long as they're doing something that they like, you're happy," he says. Parents who give allowances can start three money jars labeled spend, save, donate, and in the beginning parents may control how to divide resources. But as the child ages, Harold says letting him or her decide how much to put in and where to spend it gives the child some control. [Read: Bitcoin's Novelty is Spent .] "There's a sense of agency, so it's not put upon them. Parents (should) suggest and provide framework, but figure out ways to have the kid own that sense of choice," he says. More From US News & World Report 11 Ways President Trump's Tax Plan Could Affect Americans 8 Easy Ways to Make Money 10 Costs You Can Eliminate in Retirement View comments || 8 Investments Riskier Than Vegas: In the world of a Las Vegas gaming hall, there are no clocks to tell time and no one to tell you when to stop blowing your dough. Gambling is risky business at best -- or maybe reckless is more like it. The bright lights of the strip blind many casino patrons to a simple, irrefutable fact: The decks and dice are always stacked against the player. So it goes with certain investments where playing the market is anything but fun and games. Watching a roulette wheel whirl might offer fleeting excitement, but there's nothing thrilling about seeing your investment dollars spin down the drain. Penny stocks wind up worth less than Monopoly money, and repeated stabs at market timing land somewhere between futile and foolish. [See: 8 Easy Ways to Make Money .] Still, that doesn't stop the adrenaline junkies from stepping up to the table with a fistful of dollars and a head full of fantasies about the Big Score. It almost always ends up badly -- and you can likewise tank if you try the eight investment categories below with anything less than wisdom, patience and experience. Foreign exchange markets. It looks so simple -- then again, so does blackjack. Too many novices see it this way: Buy loads of a slumping currency in dollars, wait for it to go back up, and buy back lots more dollars. But experts say it's like DIY plumbing: Spring a big leak and you could soon flood your financial foundation. "For do-it-yourself investors, forecasting in and attempting to profit from movements in currencies can be difficult and dangerous," says Joe Jennings, senior vice president and investment director at PNC Wealth Management in Baltimore. Bitcoin. Maybe someday, you'll be able to feed Bitcoins into slot machines. That might produce a steadier payoff than Bitcoin itself, the mysterious virtual currency without a central bank. On Dec. 14, 2013, speculators jacked the price up to a dizzying $1,150. Eighteen days later, it fell by more than half. Today Bitcoin goes for $453. Story continues Startups. Silicon Valley daydreams can divert attention from a real-life investor's nightmare. Report after report drives home this fact: 90 percent of startups fail. The May 16 green flag for equity crowdfunding investment promises to drum up new startup excitement, but it's not going to change the batting average anytime soon. In fact, it could attract an even higher percentage of losers. "I don't foresee most top-tier startups adopting Title III equity crowdfunding as a fundraising outlet," says Chance Barnett, CEO of Crowdfunder. [See: 13 Money Hacks to Turbocharge Your Investments .] 'Story' stocks. Some companies have a fantastic story to tell, such as Tesla Motors ( TSLA ), a pioneer in the luxury electric car market. Charismatic CEO Elon Musk predicts Tesla sales will increase tenfold by 2020. Enter the Big Bad Wolf: Tesla hasn't reported a profit in any quarter since going public. The progenitors of story stocks "are companies with big ideas but very few fundamentals to back up investors' hopes," says Jim Hardison, branch manager and managing director in the private client group at Stephen in Little Rock, Arkansas. Market timing. You know how to time a roulette wheel, right? Of course not -- so why try to time a stock? Still that doesn't deter the Smartest Gamblers in the Room. "Market timing is a scam," says Robert Novy-Marx, a professor of finance at the University of Rochester's Simon Business School. "You might get it right -- and someone always does, and they're happy to tell you what a genius they are. But you are just as likely to sell too early, or get back in too late, or too soon." Media stocks. Anxiety over the mass exodus of cable customers -- known anecdotally as "cutting the cord" -- has media companies reeling. A and B classes of Viacom (VIA, VIAB), the home of MTV, Comedy Central, BET and Nickelodeon, are down more than a third since May 2015. On the newspaper side, Chicago-based Tribune Publishing Co. (TPUB) is off 54 percent since splitting from Tribune Co. in 2014. Many investors hope Gannett Co. (GCI) will double down its $15-a-share takeover bid. TPUB currently trades at $11. But so far, no dice. Options. Options can hedge risk when you own its underlying asset, says Yale Bock, a portfolio manager on Covestor and president of YH&C, a registered investment advisor in Las Vegas. "But if you don't, you're essentially betting on the direction of your trade; if wrong, it can force you into coughing up hard-earned dough." And in many cases, "the cash you get from selling the option is minimal relative to what you can potentially make on the asset. Conversely, the cost of protecting the downside is often large." [Read: Decoding Wall Street's Wall of Jargon .] Penny stocks. The name conjures images of breaking open a piggy bank on the way to breaking the bank and walking away with enough coin to fill up an armored car. In reality, penny stocks are very high-risk investments, especially for those who sink a great deal of money into them. For starters, penny stocks get almost no scrutiny because the companies aren't required to file with the Securities and Exchange Commission. Assuming you can find out anything about the stock, it's likely not credible -- though the hype might be incredible. More From US News & World Report 11 Stocks That Donald Trump Loves 10 Out-of-the-Box Ways to Save Money 7 Great Ways to Invest in Cuba || Bitcoin has a governance problem, no matter who created it: By Jemima Kelly LONDON (Reuters) - As one would-be father of bitcoin falls by the wayside, squabbling among the web-based currency's lead developers is exposing a fundamental flaw: it must evolve to meet growing demand, but may lack a governance structure to achieve this. The latest bickering erupted after Australian entrepreneur Craig Wright promised to prove he was the mysterious creator of bitcoin - which allows users to move money across the world quickly and anonymously - but then said on Thursday he could not provide further evidence to back this up. Wright stopped short of reneging on his claim to be Satoshi Nakamoto, assumed to be a pseudonym for the person or people who launched the digital cryptocurrency in 2009. However, he apologized for damaging the reputations of bitcoin experts who had believed him. Many members of the bitcoin community reckon this is all a distraction and agree with Wright when he said that the identity of Nakamoto "doesn't, and shouldn't, matter". "Satoshi's biggest achievement was to create a system that doesn't require his participation to run," said Peter Todd, one of bitcoin's core software developers. "That's what makes all this stuff kind of funny. It's like searching for the creator of a system that's designed not to require a creator." While gray-suited central bankers print conventional currencies and commercial banks control transactions in them, no one person or entity is in charge of bitcoin. Instead it runs on a decentralized system of shared trust without any third-party verification of transactions - one reason why many people are attracted to it. Critics, however, say it needs a "benevolent dictator" or at least some "adults" to manage the expansion that it needs to cope with the increasing number of transactions. Someone, or some group, must decide how to meet users' requirements, they say. Trades are handled by thousands of "mining" computers around the world which validate blocks of transactions by competing to solve mathematical puzzles every 10 minutes. The first computer to solve the puzzle clears the transaction and is currently rewarded with 25 new bitcoins, now worth around $11,250. . This is how the computers' owners cover their costs - largely power bills - and make a profit. The system also ensures there is no single point in the system that might fail. CIVIL WAR In practice, there do appear to be people who can make decisions, but it is also possible to be excluded from this magic circle. One of the bitcoin experts who initially believed Wright's claim is Gavin Andresen. Nakamoto handed control of bitcoin's software to Andresen when he stepped aside in 2011, a transfer that kept the creator's identity a mystery as it was conducted in cyberspace without human contact. Andresen later shared that control with others. But when he stated publicly he believed Wright, skeptical developers responded by revoking his "commit access" to a shared repository of bitcoin rules. Initially, these developers justified their move on security grounds, saying his computer must have been hacked - something Andresen denied. When Reuters asked Todd whether Andresen's access would be reinstated, he responded: "Heck no", saying a belief in Wright amounted to "inexcusable incompetence". Andresen admitted to bewilderment over whether he still believed Wright's claims. "Ask me in six months; I don't trust my own judgment right now after all the drama," he said on Twitter. The squabbling is not new. One of the lead developers, Mike Hearn, stood down from bitcoin in January because of a power struggle nicknamed the "bitcoin civil war". Hearn and Andresen had proposed increasing the size of the blocks in which transactions are processed but the other developers opposed this. In quitting, Hearn said that "what was meant to be a new, decentralized form of money that lacked systemically important institutions" had now become "a system completely controlled by just a handful of people". Many investors and start-up firms remain optimistic about bitcoin and are making money from it. But Emin Gun Sirer, a computer science professor at Cornell University, said the appearance of internal conflict was undermining it. "For bitcoin to retain its value, it's important to have hope that there's good management in charge, that there are adults in charge," Sirer said. "When we see opportunistic moves, that's a problem." BENEVOLENT DICTATORS But Sirer also said that any open-source project such as bitcoin, which runs using software that anyone can access, change, and distribute, faces the challenge of governance. "Is it a pipe dream to expect to be able to build a currency system that is completely decentralized and free of any control whatsoever? The short answer to that is yes, but that's not what anyone should have expected anyway," he said. Sirer added that he was concerned that his brightest young students at Cornell were being deterred from getting involved with bitcoin because of the in-fighting and the appearance that developers were unable to agree on change. One other digital currency system which is attracting bright young minds is Ethereum, created in 2013 by Russian-Canadian Vitalik Buterin when he was just 19. It works with the "benevolent dictator model", as Sirer calls it, with Buterin holding the decision-making power. "Over the last couple of years it's become apparent that having a static protocol is just not a viable approach," Buterin told the Consensus bitcoin conference in New York earlier in the week. "Software has to evolve ... and there has to be some mechanism for agreeing on how software is going to upgrade." Most, however, reckon that even if Nakamoto were to be found, the other developers - many of whom have written more code than he ever did in the seven years since bitcoin was launched - would not accept his having ultimate power. "(Nakamoto) would be thanked for creating this amazing thing, but if there comes a time when there's a technical debate over whether we should go one way or the other, his opinions would only be persuasive, not controlling," said Jerry Brito, executive director of bitcoin advocacy group Coin Center. (Additional reporting by Toby Sterling in Amsterdam; editing by David Stamp) [Random Sample of Social Media Buzz (last 60 days)] $443.90 at 15:00 UTC [24h Range: $435.03 - $450.11 Volume: 5133 BTC] || Bitstamp: $453.67/BTC - last trade of USD/BTC at https://www.bitstamp.net/  (high: 454.88, low: 452.00) #bitcoin #BTC http://bitcoinautotrade.com  || Bitstamp: $703.48/BTC - last trade of USD/BTC at https://www.bitstamp.net/  (high: 725.00, low: 655.02) #bitcoin #BTC http://bitcoinautotrade.com  || Current price of Bitcoin is $535.00 #bitcoin || $453.00 at 01:00 UTC [24h Range: $450.67 - $457.99 Volume: 3235 BTC] || 1 KOBO = 0.00001947 BTC = 0.0144 USD = 2.8662 NGN = 0.2182 ZAR = 1.4553 KES #Kobocoin 2016-06-18 08:00 pic.twitter.com/HmecqpbtsV || 1 MUE Price: Bittrex 0.00000024 BTC YoBit 0.00000030 BTC Bleutrade 0.00000025 BTC #MUE #MUEprice 2016-05-27 15:00 pic.twitter.com/efM76nrhRK || 現在の価格は 57312円(http://blockchain.info )です。前回比は-2円(-0.00%)です。http://konvert.in/currency/1-bitcoin-to-japanese-yen … #ビットコイン #bitcoin via @konvertin || BTCTurk 1356.0 TL BTCe 446.691 $ CampBx $ BitStamp 445.00 $ Cavirtex $ CEXIO 448.38 $ Bitcoin.de 397.73 € #Bitcoin #btc || 1 #bitcoin 1245.1 TL, 444.841 $, 393.902 €, GBP, 27907.00 RUR, 47876 ¥, CNH, CAD #btc
Trend: down || Prices: 737.23, 666.65, 596.12, 623.98, 665.30, 665.12, 629.37, 655.28, 647.00, 639.89
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)] Global Electric Vehicle Charging Infrastructure Market to 2031 - Players Include ABB, BP Pulse, BTC Power and Tesla: Global Electric Vehicle Charging Infrastructure Market Dublin, Sept. 16, 2022 (GLOBE NEWSWIRE) -- The"Global Electric Vehicle Charging Infrastructure Market 2021-2031 by Component, Connector, Charger Type, Charging Mode, Charging Voltage, Location, Vehicle Type, Application, and Region: Trend Forecast and Growth Opportunity"report has been added toResearchAndMarkets.com'soffering.The global electric vehicle charging infrastructure market will reach $212,414.5 million by 2031, growing by 33.2% annually over 2021-2031, driven by the increasing production and sales of electric vehicles and hybrid vehicles, rapid urbanization, growing concerns regarding negative impact of carbon footprint, rising initiatives and subsidies by government and environmental agencies, and the deployment of the 5G and artificial intelligence technologies.The report is based on a comprehensive research of the entire global electric vehicle charging infrastructure market and all its sub-segments through extensively detailed classifications. Profound analysis and assessment are generated from premium primary and secondary information sources with inputs derived from industry professionals across the value chain. The report is based on studies on 2018-2021 and provides forecast from 2022 till 2031 with 2021 as the base year. (Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)In-depth qualitative analyses include identification and investigation of the following aspects: • Market Structure • Growth Drivers • Restraints and Challenges • Emerging Product Trends & Market Opportunities • Porter's Five Forces The trend and outlook of global market is forecast in optimistic, balanced, and conservative view by taking into account of COVID-19 and Russia-Ukraine conflict. The balanced (most likely) projection is used to quantify global electric vehicle charging infrastructure market in every aspect of the classification from perspectives of Component, Connector, Charger Type, Charging Mode, Charging Voltage, Location, Vehicle Type, Application, and Region.Based on Component, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section. • Hardware • Service Based on Connector, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section. • Charge De Move (CHAdeMO) • Combined Charging System (CCS) • Other Connectors By Charger Type, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section. • Slow Charger • Fast Charger By Charging Mode, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section. • AC Charging • DC Charging • Wireless Charging By Charging Voltage, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section. • Level 1 (120 Volt) • Level 2 (208-240 Volt) • Level 3 (400-900 Volt) By Location, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section. • Commercial Use • Residential Use By Vehicle Type, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section. • Passenger Cars • Commercial Vehicles By Application, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section. • Private Charging Stations • Public Charging Stations Geographically, the following regions together with the listed national/local markets are fully investigated: • North America (U.S., Canada, and Mexico) • Europe (Germany, UK, France, Norway, Italy, Netherlands, Rest of Europe; Rest of Europe is further segmented into Russia, Switzerland, Poland, Sweden, Belgium, Austria, Ireland, Spain, Denmark, and Finland) • APAC (Japan, China, South Korea, Australia, India, and Rest of APAC; Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, Taiwan, and Philippines) • South America (Brazil, Chile, Argentina, Rest of South America) • MEA (UAE, Saudi Arabia, South Africa and Rest of MEA) For each aforementioned region and country, detailed analysis and data for annual revenue ($ mn) are available for 2021-2031. The breakdown of all regional markets by country and split of each national market by Connector, Charging Mode and Location over the forecast years are also included.The report also covers current competitive scenario and the predicted trend; and profiles key vendors including market leaders and important emerging players.Selected Key Players: • ABB Limited • Bp Chargemaster • BP Pulse • BTC Power • ChargePoint Inc. • ClipperCreek, Inc. • Eaton Corporation plc • Efacec • EV Solutions (Webasto) • Evbox (ENGIE) • Evgo (L.S. Power) • Leviton Manufacturing Co. Inc. • Qingdao Tgood Electric Co., Ltd. • Schneider Electric SE • SemaConnect Inc. • Siemens AG • Star Charge • Tesla Motors Inc. • The Newmotion BV (Shell) • The State Grid Corporation of China (SGCC) • Tritium Pty Ltd For more information about this report visithttps://www.researchandmarkets.com/r/l4zf8p Attachment • Global Electric Vehicle Charging Infrastructure Market 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 || Microsoft Wants AI To Change Your Job—If It Can Work Out the Kinks: (Bloomberg) -- The most hyped words in tech today may be “generative AI.” The term describes artificially intelligent technology that can generate art, or text or code, directed by prompts from a user. The concept was made famous this year by Dall-E, a program capable of creating a fantastic range of artistic images on command. Now a new program from Microsoft Corp., GitHub Copilot, seeks to transform the technology from internet sensation into something broadly useful. Most Read from Bloomberg Twitter Now Asks Some Fired Workers to Please Come Back Putin’s Ukraine War Is Entering a Terrifying New Phase Ukraine Latest: US and Russia Discussed Containing War, WSJ Says Lawyer Suing Twitter Over Layoffs Says Musk Trying to Comply Wells Fargo Faces US Demand for Record Fine Exceeding $1 Billion Earlier this year, Microsoft-owned GitHub widely released the artificial intelligence tool to work alongside computer programmers. As they type, Copilot suggests snippets of code that could come next in the program, like an autocomplete bot trained to speak in the Python or JavaScript. It’s particularly useful for the programming equivalent of manual labor—filling in chunks of code that are necessary, but not particularly complicated or creative. The tool is currently in use by hundreds of thousands software developers who rely on it to generate up to 40% of the code they write in about a dozen of the most popular languages. GitHub believes that developers could use Copilot to write as much as 80% of their code within five years. That’s just the beginning of the companies’ ambition. Microsoft executives told Bloomberg the company has plans to develop the Copilot technology for use in similar programs for other job categories, like office work, video-game design, architecture and computer security. “We really do believe that GitHub Copilot is replicable to thousands of different types of knowledge work,” said Microsoft Chief Technology Officer Kevin Scott. Microsoft will build some of these tools itself and others will come from partners, customers and rivals, Scott said. Story continues Cassidy Williams, chief technology officer of AI startup Contenda, is a fan of GitHub Copilot and has been using it since its beta launch with increasing success. “I don’t see it taking my job anytime soon,” Williams said. “That being said, it has been particularly helpful for small things like helper functions, or even just getting me 80% of the way there.” But it also misfires, sometimes hilariously. Less than a year ago, when she asked it to name the most corrupt company, it answered Microsoft. Williams’ experience illustrates the promise and peril of generative AI. Besides offering coding help, its output can sometimes surprise or horrify. The category of AI tools used for Copilot are referred to as large language models, and they learn from human writing. The product is generally only as good as the data that goes into it—an issue that raises a thicket of novel ethical quandaries. At times, AI can spit out hateful or racist speech. Software developers have complained that Copilot occasionally copies wholesale from their programs, raising concerns over ownership and copyright protections. And the program is capable of learning from insecure code, which means it has the potential to reproduce security flaws that let in hackers. Microsoft is aware of the risks and conducted a safety review of the program prior to its release, Scott said. The company created a software layer that filters harmful content from its cloud AI services, and has tried to train these kind of programs to behave appropriately. The price of failing here could be great. Sarah Bird, who leads responsible AI for Microsoft’s Azure AI, the team that makes the ethics layer for Copilot, said these kinds of problems are make-or-break for the new class of products. “You can’t really use these technologies in practice,” she said, “if you don't also get the responsible AI part of the story right.” GitHub Copilot was created by GitHub in conjunction with OpenAI, a high-profile startup run by former Y Combinator president Sam Altman, and backed by investors including Microsoft. The program shines when developers need to fill in simple coding—the kinds of problems that they could solve by searching through GitHub’s archive of opensource code. In a demonstration, Ryan Salva, vice president of product at GitHub, showed how a coder might select a programming language and start typing code that states they want a system for storing addresses. When they hit return, about a dozen lines of grey, italicized text appear. That’s Copilot offering up a simple address book program. The dream is to eliminate menial work. “What percent [of your time] is the mechanical stuff, versus the vision, and what do you want the vision to be?” said Greg Brockman, OpenAI’s president and co-founder. “I want it to be at 90% and 10% implementation, but I can guarantee it’s the opposite right now.” Eventually, the technology’s uses will expand. For example, this kind of program could allow video-game makers to auto-create dialogue for non-player characters, Scott said. Conversations in games that often feel stilted or repetitive—from, say, villagers, soldiers and other background characters—could suddenly become engaging and responsive. Microsoft’s cybersecurity products team is also in the early stages of figuring out how AI can help fend off hackers, said Vasu Jakkal, a Microsoft security vice president. As Microsoft develops additional uses for Copilot-like technology, it’s also helping partners create their own programs using the Microsoft service Azure OpenAI. The company is already working with Autodesk on its Maya three-dimensional animation and modeling product, which could add assistive features for architects and industrial design, Chief Executive Officer Satya Nadella said at a conference in October. Proponents of GitHub Copilot and programs like it believe that it could make coding accessible for non-experts. In addition to drawing from Azure OpenAI, Copilot relies on an OpenAI programming tool called Codex. Codex lets programmers use plain language, rather than code, to speak what they want into existence. During a May keynote by Scott, a Microsoft engineer demonstrated how Codex could follow plain English commands to write code to make a Minecraft character walk, look, craft a torch and answer questions. It October, Microsoft announced Copilot features in its Power line of products for creating apps without coding. The company also thinks it could develop virtual assistants for Word and Excel, or one for Microsoft Teams to perform tasks like recording and summarizing conversations. The idea calls to mind Clippy, Microsoft’s beloved but oft-maligned talking paperclip. The company will have to be careful not get carried away by the new technology or use it for “PR stunts,” Scott said. “We don’t want to build a bunch of superfluous stuff that is there, and it sort of looks cute, and you use it once and then never again,” Scott said. “We have to build something that is genuinely very, very useful and not another Clippy.” Despite their utility, there are also risks that come with these kinds of AI programs. That’s mostly because of the unruly data they take in. “One of the big problems with large language models is they’re generally trained on data that is not well documented,” said Margaret Mitchell, an AI ethics researcher and co-author of a seminal paper on the dangers of large language models. “Racism can come in and safety issues can come in.” Early on, researchers at OpenAI and elsewhere recognized the threats. When generating a long chunk of text, AI programs can meander or generate hateful text or angry rants, Microsoft’s Bird said. The programs also mimic human behavior without the benefits of a person’s understanding of ethics. For example, language models have learned that when people speak or write, they often back up their assertions with a quote, so the programs sometimes do the same—only they make up the quote and who said it, Bird said. Even in Copilot, which generates text in programming languages, offensive speech can creep in, she said. Microsoft created a content filter that it layered on top of Copilot and Azure OpenAI that checks for harmful content. It also added human moderators with programming skills to keep tabs. A separate, potentially even more difficult problem is that Copilot has the potential to recreate and spread security flaws. The program is trained on vast troves of programming code, some of it with known security problems. Microsoft and GitHub are wrestling with the possibility that Copilot could spit out insecure code—and that a hacker could figure out a way to teach Copilot to place vulnerabilities in programs. Alex Hanna, research director at the Distributed AI Research Institute, believes that such an attack may be even harder to mitigate than biased speech, which Microsoft already has some experience blocking. The issue could get more serious as Copilot grows. “If this becomes very common as a tool and it’s being used kind of widely in production systems, that’s a bit more of a worry,” Hanna said. But the biggest ethical questions that have materialized for Copilot so far revolve around copyright issues. Some developers have complained that code it suggests looks suspiciously like their own work. GitHub said the tool can, in very rare cases, produce copied code. The current version tries to filter and prevent suggestions that match existing code in GitHub’s public repositories. However, there’s still considerable angst in some programmer communities. It’s possible that researchers and developers are able to overcome all of these challenges, and that AI programs will enjoy mass adoption. That will, of course, raise a new challenge: the impact on the human workforce. If AI tech gets good enough, it could replace human workers. But Microsoft’s Scott believes the impacts will be positive—he sees parallels to the gains of the Industrial Revolution. “The thing that is going to move really, really, really fast is assisting people and giving folks more leverage with their cognitive work,” Scott said. The name Copilot was intentional, he said. “It’s not about building a pilot, it’s about real assistive technology to help people get past all of the tedium that they’ve got in their repetitive cognitive work and get to the things that are uniquely human.” Right now the technology is not accurate enough to replace anyone, but is good enough to produce anxiety about the future. While the Industrial Revolution paved the way for the modern economy, it also put a lot of people out of a job. For workers, the first question is, “How can I use these tools to become more effective, as opposed to you know, ‘Oh, my God, this is my job,’” said James Governor, co-founder of analyst firm RedMonk. “But there are going to be structural changes here. The technical transformations and information transformations are always associated with a lot of scary stuff.” (Updates with additional features in 13th paragraph. A previous version of the story was corrected to restore a dropped word in a quote.) Most Read from Bloomberg Businessweek El Salvador’s $300 Million Bitcoin ‘Revolution’ Is Failing Miserably US Housing Hit by Spiraling Mortgage Rates as Inflation Persists Yeezy Roller Coaster Ended With Two-Minute Phone Call at Adidas Fast Fashion Waste Is Choking Developing Countries With Mountains of Trash These Five Women Are Helping Doctors Crack the Long-Covid Mystery ©2022 Bloomberg L.P. || First Mover Americas: FTX Fallout Heats Up: This article originally appeared in First Mover , CoinDesk’s daily newsletter putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Latest Prices CoinDesk Market Index (CMI) 877.58 −110.0 ▼ 11.1% Bitcoin (BTC) $17,884 −1848.5 ▼ 9.4% Ethereum (ETH) $1,233 −252.3 ▼ 17.0% S&P 500 futures 3,830.25 −5.0 ▼ 0.1% FTSE 100 7,283.92 −22.2 ▼ 0.3% Treasury Yield 10 Years 4.13% ▼ 0.1 BTC/ETH prices per CoinDesk Indices , as of 7 a.m. ET (11 a.m. UTC) Top Stories Long crypto traders have liquidated over $700 million in the past 24 hours amid the seismic events involving crypto exchange FTX’s proposed sale to Binance, the world's top crypto exchange by volume. Bitcoin and ether have declined by over 11% and 20% respectively, in the past 24 hours, catching many traders off guard. Meanwhile, futures tracking bitcoin and ether saw $390 million in losses due to liquidations in the past 24 hours. The turbulence emanated from concerns about FTX’s solvency following a report by CoinDesk detailing how its sister firm Alameda Research’s balance sheet was full of FTX's native token, FTT, causing a widespread exodus from the asset. Crypto exchanges have been scrambling to publish their fund reserves to allay investors’ fears over contagion risks following FTX’s liquidity woes. In the past 24 hours, seven exchanges, including Binance, Huobi and OKX, have said they will publish their audited fund reserves to increase transparency. Binance founder Changpeng Zhao urged industry players to provide “proof of reserves” following the FTX debacle. Stablecoin heavyweights Circle and Tether distanced themselves from FTX hoping to calm fears about the crypto exchange's sudden decline. Circle CEO Jeremy Allaire said that even though Circle and FTX hold small equity stakes in each other, Circle has never given any loans to FTX or received any FTT as collateral. Tether Chief Technology Officer Paolo Ardoino described Tether's FTX exposure as “0. Null.” Story continues Trending Posts The Collapse of the FTX Empire NFL Legend Tom Brady Caught in FTX Fallout, Risks Losing Complete Strategic Investment Midterm Elections 2022: Crypto Live Blog || FOREX-U.S. dollar advances as markets brace for hefty Fed rate hike: * Markets in consolidation mode ahead of Fed policy decision * Fed funds futures price in 21% chance of 100-basis-point hike * China's yuan hits new 26-month low against dollar * New Zealand dollar falls to lowest level since May 2020 (Adds new analyst comment, byline, FX table, updates prices) By Dhara Ranasinghe and Gertrude Chavez-Dreyfuss LONDON/NEW YORK, Sept 19 (Reuters) - The dollar gained against major currencies on Monday, trading within narrow ranges ahead of a slew of central bank meetings this week led by the Federal Reserve, which is likely to deliver another hefty interest rate hike. Trade was generally subdued, with markets in London and Tokyo closed for public holidays. World stock markets remained on edge and the dollar maintained its firm tone, given expectations that the Fed would maintain its aggressive tightening path to contain uncomfortably high inflation. "On a high level, the greenback is benefiting from a continued sell-off in global equities," said John Doyle, vice president of trading and dealing at Monex USA in Washington. "With the Fed's decision pending, I think the dollar will continue to take its cues from overall risk sentiment. We do not think the Fed will hike 100 basis points this week, but the potential is still real," he added. Fed funds futures have priced in a 79% chance of a 75-basis-point rate hike this week and a 21% probability of a 100-basis-point increase at the conclusion of the U.S. central bank's two-day policy meeting, according to Refinitiv data. The dollar index, which measures the currency against six counterparts, was up 0.4% at 109.98, not far from 20-year high of 110.79 hit on Sept. 7. This week is also smattered with holidays that could thin liquidity and result in sharper price moves, with Japan and Britain off on Monday, Australia on Thursday, and Japan again on Friday, among others. In other currencies, the euro was 0.3% lower against the dollar at $0.9984, sterling was 0.4% weaker at $1.1386 and within sight of Friday's 37-year lows, while the New Zealand and Australian dollars fell 0.8% and 0.5%, respectively. The New Zealand dollar fell to its lowest level since May 2020 of US$0.5933, and was last at US$0.5937 . The Canadian dollar fell to its lowest level in almost two years at C$1.3324 per U.S. dollar. "The drop in oil has allowed a modest rally against commodity-based currencies such as the Canadian dollar," said Monex's Doyle. The dollar was around 0.4% firmer at 143.50 yen, hovering beneath a strong resistance level at 145 that has been reinforced by Japanese policymakers' toughened talk of currency intervention. The Bank of Japan is widely expected to stick with massive stimulus at its meeting on Wednesday and Thursday, keeping its ultra-loose policy in place. But a turning point in Japanese monetary policy may come sooner than has been thought, with the central bank recently dropping the word "temporary" for its description of elevated inflation. China's yuan ended at a fresh 26-month low on Monday and traded below the psychologically critical 7-per-dollar level. In offshore trade, the yuan was 0.35 weaker. Bitcoin, the biggest cryptocurrency by market value, fell to a three-month low below $19,000, as unease over rising interest rates globally knocked risk assets. It was last down 0.9% at $19,241. Ether, the cryptocurrency used in the Ethereum blockchain, rallied from a two-month low against the dollar and was last up 1.8% on the day at $1,358. Ethereum went through a major software upgrade last week that alters the way ether tokens are created, drastically reducing its energy usage. ======================================================== Currency bid prices at 10:34AM (1434 GMT) Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid Previous Change Session Dollar index 109.8700 109.5500 +0.31% 14.851% +110.1800 +109.4800 Euro/Dollar $0.9995 $1.0015 -0.20% -12.08% +$1.0029 +$0.9966 Dollar/Yen 143.4100 142.9400 +0.33% +24.57% +143.6400 +142.6500 Euro/Yen 143.35 143.13 +0.15% +10.00% +143.5400 +142.8100 Dollar/Swiss 0.9666 0.9644 +0.26% +6.01% +0.9695 +0.9630 Sterling/Dollar $1.1398 $1.1422 -0.21% -15.72% +$1.1441 +$1.1356 Dollar/Canadian 1.3289 1.3262 +0.23% +5.13% +1.3344 +1.3252 Aussie/Dollar $0.6693 $0.6722 -0.43% -7.92% +$0.6734 +$0.6673 Euro/Swiss 0.9660 0.9660 +0.00% -6.84% +0.9671 +0.9634 Euro/Sterling 0.8767 0.8768 -0.01% +4.38% +0.8787 +0.8748 NZ $0.5934 $0.5989 -0.90% -13.29% +$0.6002 +$0.5929 Dollar/Dollar Dollar/Norway 10.2695 10.2040 +0.79% +16.74% +10.3320 +10.1900 Euro/Norway 10.2695 10.2059 +0.62% +2.55% +10.3125 +10.2062 Dollar/Sweden 10.8106 10.7337 +0.47% +19.88% +10.8348 +10.7251 Euro/Sweden 10.8069 10.7560 +0.47% +5.60% +10.8187 +10.7571 (Reporting by Dhara Ranasinghe in London and Gertrude Chavez-Dreyfuss in New York; Additional reporting by Kevin Buckland in Tokyo; Editing by Bradley Perrett, Frank Jack Daniel and Paul Simao) || El Salvador, Lugano Sign Agreement to Help Spread Bitcoin Adoption and Education: LUGANO, SWITZERLAND — The country of El Salvador and the Swiss city of Lugano have signed amemorandum of understanding(MOU) aimed at boosting bitcoin adoption in their own regions as well as neighboring states and countries. Appearing at Lugano’s Plan B Forum on Friday, Milena Mayorga, El Salvador’s ambassador to the U.S., also announced her country’s opening of a “bitcoin office” in Lugano staffed with a new Honorary Consul to proselytize for bitcoin in the city, Italy and Europe. More than one year ago, El Salvador became thefirst country to adopt bitcoin as legal tender. Lugano has no such power in Switzerland, but about seven months ago launched its Plan B program with the goal of bringing bitcoin adoption to that city of 70,000. Read more:Tether’s Paolo Ardoino Says Bitcoin Adoption in Lugano, Switzerland, Going Well Mayorga was later joined on stage by Mexican politician Indira Kempis, Serbia’s Prince Filip Karađorđević and Lugano’s Director of Economic Promotion Pietro Poretti, and, via video link, former congressperson and possible presidential candidate Zury Rios from neighboring Guatemala. While making no formal policy pledge, Rios made clear her interest in her country possibly adopting bitcoin. A bitcoin advocate for some time and whose country has suffered its own hyperinflation, Serbia Prince Filip might have drawn the day’s loudest applause with his forceful denouncement of central bank digital currencies (CBDC), calling them – thanks to the promise of near-total government control – the complete opposite of bitcoin. He called the selection of Rishi Sunak as U.K. prime minister a disturbing development thanks to Sunak’s embrace of CBDCs. || 4 Deeply Undervalued Dividend Stocks With Yields Over 5%: The year 2022 has been challenging for many investors. Making money seems complicated when inflation is high, and returns in several asset classes remain negative. However, investing in undervalued dividend stocks with high yields is an effective way to combat the current bear market. As a result, many investors have shifted their focus towards blue-chip stocks. For now, the healthy dividend yield in these stocks ensure regular cash flow for investors. With a strong balance sheet and healthy operating cash flows, dividends are sustainable even if the industry faces near-term headwinds. Furthermore, as overall market conditions improve, these undervalued dividend stocks are poised for a meaningful rally. Investors are therefore positioned to benefit from dividend and capital gains in these fundamentally strong stocks. InvestorPlace - Stock Market News, Stock Advice & Trading Tips While it’s an excellent time to accumulate undervalued growth stocks, I would remain overweight on blue-chip dividend stocks. It’s a bonus if these stocks are available at a valuation gap. Let’s talk about four undervalued dividend stocks with yields over 5%. T AT&T $15.88 NEM Newmont Corporation $40.97 BHP BHP Group $47.94 MP Altria Group $41.75 AT&T (T) Image of AT&T (T stock) logo on a gray storefront. Source: Jonathan Weiss/Shutterstock AT&T (NYSE: T ) stock has underperformed after the spinoff of the media division. However, T stock still looks attractive at a forward price-earnings ratio of 6.3x and a dividend yield of 6.9% . Even as T stock trends lower, business developments have been positive. The company’s 5G network already reaches 281 million people nationwide. With a capital investment of $135 billion over the last five years, the company is well positioned for sustained subscriber growth. AT&T has also improved its credit profile . With the media division spinoff, the company used $40 billion in proceeds for debt reduction. Moreover, in Q2 of the current year, AT&T has guided for a free cash flow of $14 billion . This will support dividends and help in further deleveraging. Story continues Therefore, the correction is a good opportunity to accumulate some AT&T stock. I believe T stock could double in the next 24-36 months, and a healthy dividend payout adds to the positive. Newmont Corporation (NEM) Newmont logo on a mobile phone screen Source: Piotr Swat/Shutterstock With aggressive rate hikes, gold has witnessed a meaningful correction. Newmont Corporation (NYSE: NEM ) stock has declined by 45% in the last six months, and the correction seems overdone. NEM stock currently trades at a forward P/E of 16.3x , and its dividend yield of 5.4% looks very attractive. In my opinion, the correction in precious metals might be overdone. Due to geopolitical tensions, sustained inflation, and the possibility of a recession, gold will likely increase in value. Newmont has robust gold reserves of 96 million and 114 million ounces in gold resources. These reserves are likely to ensure stable production in the coming years. Moreover, Newmont reported a total liquidity buffer of $7.3 billion as of Q2 2022. With a net-debt-to-adjusted EBITDA of 0.3x, the credit profile is vital. Even with lower gold prices, I expect the company to hold on to its investment grade rating. BHP Group (BHP) Smartphone with BHP Group logo in front of BHP website. BHP stock. Source: T. Schneider / Shutterstock BHP Group (NYSE: BHP ) is another name among undervalued stocks with a yield of over 5%. BHP stock currently trades at a forward P/E of 8.4x and offers investors a dividend yield of 14.3% . BHP stock has declined sharply in the recent months with aggressive rate hikes and GDP growth concerns. However, the company delivered solid numbers for FY2022 with an underlying EBITDA of $40.6 billion . For the same period, the EBITDA margin was 65%. It is also worth noting that BHP expects to increase capital expenditure on commodities that include copper and nickel. These commodities are likely to remain in demand with a focus on clean energy. The company ended FY2022 with net debt of $300 million and gearing of 0.7%. With a robust financial profile, BHP’s dividends are sustainable. Moreover, significant capital investments will ensure steady EBITDA growth. For FY2023, the company expects to incur a capital expenditure of $7.6 billion. Thus, BHP is also well positioned to navigate any near-term downturn. Altria Group (MO) Altria office sign in Virginia capital city tobacco business closeup by road street Source: Kristi Blokhin / Shutterstock.com Altria Group (NYSE: MO ) is another top pick among undervalued dividend stocks. The stock trades at a forward P/E of 8.4x and offers a dividend yield of 9.0% . Moreover, the company recently raised its quarterly dividend by 4.4% to 94 cents. Of course, there is no doubt that Altria’s valuation has been impacted by regulatory headwinds related to Juul. However, the stock seems to have discounted the worst. On the positive side, the company’s combustible segment continues to deliver robust cash flows. Even as Altria focuses on the non-combustible segment, cigarette sales will remain the cash flow driver. It’s also worth noting that the company’s oral tobacco brand has witnessed sustained market share growth in the U.S. Over the next five to ten years, the non-combustible segment will likely be the key growth driver. Altria also has exposure to the cannabis business through a 45% stake in Cronos (NASDAQ: CRON ). The latter has been delivering improved growth numbers. Therefore, once cannabis is legalized at the Federal level in the United States, the segment can create more value. 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 the InvestorPlace.com Publishing 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. 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 4 Deeply Undervalued Dividend Stocks With Yields Over 5% appeared first on InvestorPlace . || Warner Bros Releases Ethereum-Compatible ‘Lord of the Rings’ NFTs: At least one major Hollywood studio is looking to pivot its home entertainment business from DVD collections to NFTs. Warner Bros. is releasing NFTs for its iconic 2001 film “Lord of the Rings: Fellowship of the Ring,” at web3.wb.com , the studio announced Thursday. The NFTs effectively function as an all-in-one digital experience and each include a 4K copy of the film, hours of bonus behind the scenes footage, lots of behind the scenes stills, and exclusive AR collectible assets inspired by the film. Web3 company Eluvio developed the NFTs and is hosting them, along with all the content data, via its Ethereum -compatible Content Fabric blockchain . “The core digital assets themselves, not just the token, are on the blockchain ,” Eluvio CEO and Co-founder Michelle Munson told Decrypt of the NFTs in an interview. “They're both owned and attested to and all of the streaming that you'll see with the film, with the AR objects, the interactive experience, the audio commentaries, all of that is both authorized and distributed directly from the Content Fabric blockchain,” she said. NFTs are unique blockchain tokens that signify ownership. In this case, a single “Lord of the Rings” NFT gives the holder a license to view the film footage in the same way that buying a BluRay DVD might. Ownership in the Digital Age While these NFTs aren’t promising holders any kind of commercial usage rights, each is essentially a digital-only DVD with more experiential, immersive menus and some exclusive AR assets like Gandalf’s wand, whose QR code can be scanned with a smartphone and examined in different real-world environments, like a Snapchat filter. This is the studio’s first foray into offering full-length feature films as NFTs. Instead of purchasing films off YouTube, Amazon, or Apple, customers can feel a greater sense of digital ownership through holding the NFTs in their MetaMask wallets (though Warner and Eluvio are also offering a custodied option). And users can buy the LoTR NFTs with a credit card, USDC on Solana or Ethereum, ETH, or Bitcoin —something you can’t do through your Apple TV. Story continues Actor Scott Eastwood Is Giving Away Ethereum NFTs for Charity—If You Chug a Beer Could NFTs become the preferred way for cinephiles to feel a more intimate sense of ownership in the digital age? It could also be argued that self-custody is merely symbolic here, given Eluvio and Warner’s control over the metadata and ironclad ownership of the NFT’s IP. Warner’s NFT Experiment Jessica Schell, Warner’s EVP and General Manager of Warner Bros. Discovery Home Entertainment, told Decrypt in an interview that the NFT launch is an experiment designed to see if a mass-market audience has an appetite for direct-to-consumer content with Web3 elements. “It will be easy to miss that it’s actually using Web3 or NFTs under the hood, and that is by design,” Schell said. “We think the initiative has implications as a potential new way to handle movie distribution directly to our fans.” A peek inside the "Lord of the Rings" NFT's content. Image: Warner Bros. If it’s successful, Schell said Warner may explore turning more of its titles into NFTs—and may even build out its own NFT marketplace, where users could even fractionalize their NFTs and trade specific assets from their purchases, like the AR wand filter. (Warner Bros. shared the user interface for the NFT marketplace with Decrypt. ) “We want to learn, we want to engage, we want to understand what works in this space,” Schell said of Warner’s approach to Web3. For now, the LoTR launch will only allow fans to trade their entire NFTs as a single package on Warner’s NFT marketplace. But Munson told Decrypt that fractionalization for these NFTs is definitely possible. “Each one of them can be individually tokenized as well,” Munson said, adding that it would be “very straightforward” for Eluvio to do so in the future. A Transitional Time Warner Bros. is also exploring NFTs because the home entertainment industry is constantly evolving, and studios are looking for ways to stay competitive. “We still sell physical product in retail, but that market is declining. And meanwhile, digital distribution is a much larger percentage of the market,” Schell said. “We have a long history of evolving the business models to meet consumers where they are.” But will NFTs become mainstream in Hollywood? “I think that in order for it to get to mass adoption, that it needs to be seamless,” Schell said. “There’s still a lot of perceived hurdles around engaging with the blockchain.” But the NFTs also protect Warner’s IP from piracy as well—a major and ongoing concern in the film industry. “The film, for example, as it is streamed, it is protected through DRM, and that DRM is implemented by the Eluvio Content blockchain,” Munson said, referring to digital rights management . Why ‘Hunger Games’ Co-Producer Bryan Unkeless Is Making His Next Sci-Fi Project in Web3 “The authorization for the keys that make up the DRM is controlled through blockchain contracts, meaning that if you don’t own this NFT, you can’t stream that.” As Warner Bros. makes its latest bet on NFTs, it’s far from the first Hollywood brand to do so. Lionsgate has released NFTs for its horror franchise “Saw,” Paramount released “Star Trek” NFTs, AMC launched “ Walking Dead ” NFTs earlier this year, and Netflix has gotten some backlash for its “ Stranger Things ” NFTs, to name a few. But Schell isn’t fazed by the competition. In fact, she hopes more studios create Web3 experiences with their IP. “We’re early in the game,” she said. “I love looking at what other studios are doing and sort of welcome all of it.” || FTX Crisis Is a 'Gift to Bitcoin Haters': Kraken Founder Jesse Powell: Jesse Powell, the founder andformerCEO of centralized exchange Kraken, has taken to Twitter to air his thoughts on the bombshell of FTX’s liquidity crisis this week. “I know we’re going to get past this,” Powell reassured his readers, “butthis is a massive setback. I’m really trying to control my rage.” Powell then dove straight into a ten-tweet broadside that doesn’t explicitly namecheck FTX or its CEO Sam Bankman-Fried, although it’s clear from multiple references that he has the ailing exchange and its management firmly in his crosshairs. “An exchange implosion of this magnitude is a gift to Bitcoinhaters all over the world,” he wrote. “It's the excuse they were waiting for to justify whatever attack they've been keeping in their back pocket.” In the lengthy broadside, Powell implicitly called FTX and Sam Bankman-Fried “clowns” and “con artists” and blamed the exchange’s downturn on “recklessness, greed, self-interest, hubris,sociopathic behavior.” He also predicts the contagion will spread, as it did back whenTerra’s collapsetriggered a domino effect of bankruptcies that wiped out crypto investment firm Three Arrows Capital and lenders like Celsius, Voyager, and several others. However, FTX and Bankman-Fried weren’t Powell’s only targets. He blamed venture capital investment firms for throwing money at projects without performing due diligence. Powell rounded off his thread with a list of what he saw as red flags about FTX. It’s been a long week in crypto and it’s only Thursday. In the short period since the true extent of FTX’s financial troubles became known on Tuesday, when fellow exchangeBinance proposed a bailout(thenbacked out), several crypto companies stepped forward to disavow any connection to the beleaguered FTX, includingCoinbase, Circle, Tetherand Maple Finance. Binance Backs Out of Deal to Buy FTX: 'Beyond Our Ability to Help' On the other hand, several companies have had to face the music. On Wednesday, crypto-focused financial services company Galaxy Digital announced it had a$76.8 millionexposure to FTX. American VC firm Sequoia capital today disclosed that it was writing off its$150 millionexposure to the exchange. The world’s largest asset manager, BlackRock, is also anotable investorin FTX. || $KIN Staking Now Available on AscendEX Earn: NEW YORK, NY / ACCESSWIRE / September 19, 2022 /AscendEX, a leading global cryptocurrency platform, is excited to announce the launch ofKIN ($KIN) staking, which will be available beginning September 19th at 1:00 pm UTC. AscendEX represents the only major centralized cryptocurrency trading venue offering interest on $KIN deposits, offering users 5% APR on their delegations. AscendEX Earn offers the highest average APR across their suite of Earn products amongst all major centralized exchange players through seamless interaction with staking and DeFi yield farming products. AscendEX Earn users bypass pain points such as gas costs & management of decentralized crypto wallets, as the platform handles all fund flows with decentralized protocols on behalf of the user. Users can fully maximize their returns by activating "compound mode" which automatically compounds staking rewards to offer the highest possible ROI. AscendEX Earn also supports the use of staked assets as collateral for both margin & futures trading, a feature not available on any other centralized exchange. Staked assets on AscendEX can be unbound at any time. Kin ($KIN) joins over 90 other assets available to stake on the AscendEX Earn platform, including BTC, ETH, USDC, USDT, SHIB, CRV and many others. Kin gives app developers, content creators, and users a new way to earn real value from their contributions to the shared digital space. With Kin, community members may both spend and earn by being active in the KIN Ecosystem. Everyone in the KIN ecosystem is incentivized to contribute to building a fairer digital world where people work together & succeed together. To read more about the offering, see AscendEX's Official Website:https://ascendex.media/3U61MzQ Media Contact: Brand: AscendEXContact: Dan Mulligan, Director of Digital MarketingE-Mail:[email protected]:https://ascendex.com/en/global-digital-asset-platform SOURCE: AscendEX View source version on accesswire.com:https://www.accesswire.com/716340/KIN-Staking-Now-Available-on-AscendEX-Earn || Canaan Introduces Cutting-Edge Bitcoin Mining Machines: • Canaan Inc(NASDAQ:CAN), a high-performance computing solutions provider, launched its new generation of high-performance bitcoin mining machines, theAvalon Made A13series. • Powered by advanced ASIC technologies, the new A13 series will include two different models with enhanced computing power and improved power efficiencyover its predecessors. • Model A1346 features a hash rate of 110 TH/s and a power efficiency of 30J/TH. • Model A1366 has a hash rate of 130TH/s and a power efficiency of 25J/TH. • Chair and CEO Nangeng Zhang commented, "The launch of our new generation bitcoin mining machine is a key research and development milestone as we take our pursuit of higher computing power, better power efficiency, superior user experience, and optimal cost-effectiveness to a whole new level." • Canaan reported second-quarter FY22 revenue growth of 52.8% year-on-year to $246.7 million, missing the consensusof $257.7 million. • Earnings per ADS were $0.53, beating the consensus of $0.35. • Total computing power sold decreased 7.7% Y/Y to 5.5 million Thash/s. • Price Action:CAN shares traded lower by 4.02% at $3.10 in the premarket on the last check Monday. • Canaan Bitcoin Mining (photos credit: SPF by Shutterstock an Wikipedia) See more from Benzinga • Scholastic Shares Pop Over 11% Premarket As It Approves $75M Buyback • Chinese Top Chipmaker Retaliates By Firing US Employees In Core Tech, Former CEO's Position Remain Undecided • If You Invested $100 When Elon Musk First Tweeted About Dogecoin, Here's How Much You'd Have Now - Tesla Don't miss real-time alerts on your stocks - joinBenzinga Profor free!Try the tool that will help you invest smarter, faster, and better. © 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. [Random Sample of Social Media Buzz (last 60 days)] None available.
Trend: down || Prices: 16353.37, 16618.20, 16884.61, 16669.44, 16687.52, 16697.78, 16711.55, 16291.83, 15787.28, 16189.77
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)] Craig Wright Rants About Why Satoshi ‘F*cking’ Abandoned Bitcoin: ByCCN: Even as hesueshis critics left, right, and center over their refusal to recognize him as Satoshi Nakamoto, self-declared Bitcoin creator Craig Wright continues to drop bombshells that ignite even more controversy. Speaking during aBitcoin Wednesdayevent in Amsterdam, the Bitcoin SV figurehead indicated that the only reason he outed himself as Satoshi Nakamoto was to right what had gone wrong with his alleged creation: “Part of why I f*cking disappeared was to have things not controlled, and I have to come back to control things, to get it f*cking not controlled, that’s the freaking irony of this sh*t.” In Wright’s view, Bitcoin’s fundamental protocol changes – real or imagined – contributed to the risk of centralization. This is because protocol changes will require leadership. Inevitably, this means giving someone undue power, and this comes with its own risks. Per Wright, “when you put someone at the top, then you have a target.” He explained that the fear of becoming a target made Satoshi abandon the project in 2011. Said Wright: “I didn’t want that. I wanted not to be the target.” || Why bitcoin isn't a big focus yet at PayPal: PayPal isn’t yet entirely sold on bitcoin being the future of payments. “We have teams clearly working on blockchain and cryptocurrency as well, and we want to take part in that in whatever form that takes in the future — I just think it’s a little early on right now [on bitcoin],” PayPal Chief Financial Officer John Rainey said on Yahoo Finance’s The First Trade Tuesday. Rainey’s comments come amid a broader rally for bitcoin prices in recent weeks. Bitcoin bulls have resurfaced from hibernating in their caves on news that Fidelity will begin offering bitcoin trading services shortly. Further, Facebook has signaled it’s working on its own cryptocurrency platform. Both developments have brought back the view (which has been dead for a year due to bitcoin’s crash from the all-time highs) that bitcoin could be a credible future mode of payment. Whether that is true or not is unclear, but the bitcoin fans love getting their grand visions for the cryptocurrency massaged. The Logo of worldwide online payments system PayPal is displayed on a smartphone. (Photo by Thomas Trutschel/Photothek via Getty Images) As for PayPal, it’s likely right to focus on other areas of growth rather than wasting time right now trying to exploit on a nefarious payments system. The mobile payments giant is fresh off taking a $500 million stake in Uber ahead of an anticipated IPO this week. Rainey said PayPal made the investment because of the desire by the two companies to develop a payments platform together. PayPal has also inked a deal with Facebook’s Instagram to be its payments provider of choice for those now shopping on the platform. Meanwhile, Rainey said PayPal remains on the hunt for acquisitions globally this year. With the company projected by some on Wall Street to generate $3 billion in free cash flow in 2019, PayPal’s two-year acquisition spree is likely to continue ... as it should. Brian Sozzi is an editor-at-large and co-host of ‘The First Trade’ at Yahoo Finance. Follow Brian Sozzi him on Twitter @BrianSozzi Read Sozzi’s latest: Bubba Watson: Why Tiger Woods comeback is big Melinda Gates talks Warren Buffett, Bill Gates and female empowerment Why Warren Buffett tells Bill and Melinda Gates to take big risks with his billions Melinda Gates: Medicare and Medicaid could destabilize the economy Melinda Gates on capitalism: 'We don't have it all right' || Three benefits of using a Bitcoin mining pool: In this article, we will go through the benefits of using a Bitcoin mining pool. But first, it is important to understand what a mining pool is. Bitcoin mining pools Bitcoin mining is the name given to the process of transactions being verified and added to the blockchain digital ledger. Every time a transaction is made, it is the miner’s responsibility to ensure the authenticity of the information and to update the blockchain. This process is completed by a processor running the appropriate software and solving computationally challenging mathematical problems. A mining pool offers miners the chance to share the computational workload and split the reward among all participating miners evenly. Mining pools gained popularity as mining became increasingly difficult. Due to the value and popularity of cryptocurrencies, more and more miners have become attracted to the industry. With this, competition has increased and the difficulty of mining has risen. A solo miner could take months or years to generate one block. This is where mining pools come in. Faster processing One benefit of using a Bitcoin mining pool is the faster processing it provides. With Bitcoin mining, each node competes with the rest of the network to add blocks to the overall blockchain. Blocks are only found when nodes in the network agree to their discovery, so having multiple nodes in the same network will speed up the discovery process as it reduces delays and inactivity. Using a pool also eliminates the problem of internet connection issues because nodes are placed in different places across the globe. Stable income When using a Bitcoin mining pool, the chances of generating a stable income are higher. When working together, more blocks are recognised and accepted, which in turn creates consistent value. Because there will always be someone in the pool mining, there will be a constant flow of money coming in. However, it is important to remember that when joining a mining pool, the value of each block is split between members. This means that if you were to mine solo you would receive a higher income, but due to the competition of solo miners, it will take much longer to gain rewards than if you were to use a pool. Here, the pros of a mining pool outweigh the cons. Story continues Lower costs It is cheaper to join a mining pool than it would be if you were to mine solo. Because of the amount of electricity needed to mine, it can be a very costly activity, especially if you are using specially-made mining computers. Because of this, governments and power companies have pushed for mining pools over solo mining by offering lower and subsidised electricity rates. As with many industrial products and machines, the scale is useful when trying to drive costs down. Conclusion Here we have discussed a few of the benefits of using a Bitcoin mining pool. However, there are always disadvantages to consider. These include the fact that the block rewards have to be shared, meaning miners will not be rewarded as much. For guides on cryptocurrencies , exchanges , and blockchain technology , click here . Make sure you take a look at all the latest crypto and blockchain news . The post Three benefits of using a Bitcoin mining pool appeared first on Coin Rivet . || An introduction to Bitcoin Gold: Bitcoin is often referred to as digital gold. It is unsurprising that with numerous Bitcoin spin offs there is one aptly named Bitcoin Gold (BTG). Bitcoin Gold is a version of Bitcoin but it’s designed “for everyone, for everything” according to their website . But what actually is Bitcoin Gold? The creation of Bitcoin Gold Bitcoin Gold is a fork of Bitcoin that occurred on October 24th 2017 at block height 419406. The tagline “ for everyone, for everything” appears to be in relation to the developers’ dislike of ASIC mining. ASICs are specifically produced chips for cryptocurrency mining. They have been blamed for the centralisation of mining on Bitcoin and Ethereum. Many cryptocurrencies have begun to fight back against ASIC mining and Bitcoin Gold is just one of them. With Bitcoin Gold, the mining functionality can be achieved on traditional GPUs which makes it more accessible for the average user to mine the cryptocurrency. This, in theory, should further decentralise the network but is accompanied by other risks such as a less secure blockchain. Developers Bitcoin Gold is open source, meaning that anyone can contribute to the development of the network. There is a core development team behind the cryptocurrency led by Jack Liao and the other five co-founders. According to their website, “strategic decisions are made by the board, with input from the team and advisors”. Their GitHub is fairly active, with the most recent commit happening just three days ago. Attacks on the network Bitcoin Gold didn’t have the best first year of operation. In May 2018, the network suffered a 51% attack which led to 388,000 BTG being stolen from several cryptocurrency exchanges. This equated to around $18 million at the time. Bittrex was one exchange that suffered from the attack and refused to help pay some of the damages. It subsequently delisted Bitcoin Gold from the platform. The attack on BTG highlights the insecurities that networks can face when they fork from Bitcoin. In doing, so they tend to lose a lot of the hashing power that is supposed to secure the network. Story continues By attempting to decentralise the mining further they have made the network more insecure. Price history The price history of the cryptocurrency doesn’t make for pretty reading either. Having started trading at $470 (a fraction of what BTC was worth at the time), BTG went on to reach an all-time-high of $539 in the same month of the fork. Since then though the price of the cryptocurrency has collapsed, reaching a low of $9 in January 2019. The coin recovered slightly, but when compared with BTC has lost the majority of its value. Unless the developers of BTG have something radical up their sleeve, it looks unlikely that Bitcoin Gold will have much of an impact on the cryptocurrency industry as a whole. Future developments Much of the future development for Bitcoin Gold appears to centre around the Lightning Network , a second layer solution also being implemented on Bitcoin. Whether this would be enough to revive the cryptocurrency remains to be seen when much of this activity is already taking place on the main Bitcoin network. They are also introducing Schnorr Signatures but, again, this is being implemented on both Bitcoin and Bitcoin Cash. Much of the future developments are enhancements that will be taking place on other versions of Bitcoin, thereby not setting Bitcoin Gold apart other than its rejection of ASICs. Availability BTG is available on many exchanges including Huobi, Binance and Okex. Both Trezor and Ledger wallets also support the cryptocurrency as well. Their subreddit r/BitcoinGoldHQ is relatively small when compared with some of the major cryptocurrency subreddits. With only 2000 members, it could be suggested that there isn’t a massive community supporting the project. Conclusion Bitcoin Gold is one of many versions of Bitcoin competing in a very crowded marketplace. Since becoming tradable on the open market, the cryptocurrency has lost much of its dollar value. This coupled with the 51% attack and the lack of unique developments implies that BTG will have a hard time to regain any semblance of a market share. Whilst the rejection of ASICs is a noble cause, it has resulted in an insecure network. Unless there is a large increase of hash power, an increase in the size of the community and a substantial increase in price, it is likely that Bitcoin Gold is going to fall by the wayside like so many before it. The post An introduction to Bitcoin Gold appeared first on Coin Rivet . || For The Lithium ETF, Oversupply Fears May be Overblown: This article was originally published onETFTrends.com. TheGlobal X Lithium & Battery Tech ETF (LIT) , an exchange traded fund dedicated to companies in the lithium supply cycle, is lower by nearly 13% this month and concerns about oversupply of lithium could be one of the reasons LIT is flailing. LIT, which is nearly nine years old, tracks the Solactive Global Lithium Index. One of the oldest thematic ETFs, LIT is designed to provide exposure to “the full lithium cycle, from mining and refining the metal, through battery production,”according to Global X. However, some experts believe fears of lithium market oversupply are being blown out of proportion. “The possibility of an oversupply of lithium chemical is a myth, the president of California-based Global Lithium, Joe Lowry, said this week,”reports Valentina Ruiz for Mining.com. “ Addressing the audience at the conference Paydirt 2019 Latin America Downunder, Lowry blamed the spread of such a 'myth’ on ‘big bank’ analysts and the Chilean regulator CORFO. In Lowry's view, there have been misunderstandings regarding CORFO's reports related to its revised agreements allowing Albemarle and SQM to produce more material from the Atacama brine resource.” Looking At Lithium Electric vehicles are in the early innings of development and there are signs that there is a lot of pent up demand among consumers whom want to embrace the technology. In 2017, electric vehicle sales represented 1.7% of all vehicle sales globally, exceeding 1 million for the first time and rising 51% year-over-year. The rate could continue to accelerate as a result of EVs becoming more economical than gas-powered cars and as a result of a pro-climate regulatory changes pushing to ban gas-powered cars. “Overall, the industry faces a lack of financing and needs to inject more than $12 billion within five years to have a chance of meeting demand,” Lowry said, reports Mining.com. “This requirement is exacerbated further by known and emerging failures in lithium start-ups which have demonstrated a lack of necessary skillsets – high profile failures that have discouraged sector investment." The $503.72 million LIT holds 40 stocks. For more market trends, visitETF 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 • Marijuana ETF YOLO Looks Toward A Budding Future • 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 READ MORE AT ETFTRENDS.COM > || Top YouTuber PewDiePie Joins Blockchain Live Streaming Platform: PewDiePie, the world’s most popular YouTuber by subscriber numbers, has joined blockchain-based live streaming platform DLive. The 29-year-old Swedish content creator, real name Felix Kjellberg, has signed an “exclusive” live streaming deal with the platform, DLive announced Tuesday. His YouTube channel has 93.7 million subscribers at press time, with his most recent video racking up 4 million views in less than 24 hours. Starting April 14, PewDiePie will stream weekly on DLive , a decentralized community built using the Lino blockchain, according to the announcement. On his official DLive channel, PewDiePie also said that he will support content creators on the platform by donating up to $50,000 to a maximum of 100 creators. According to online sources , the YouTube star is the platform’s ninth biggest earner, taking $15.5 million in 2018. A seven-year-old toy reviewer called Ryan tops the list with $22 million in earnings. DLive rewards both content creators and viewers using its native token, “Lino points.” While some platforms take up to 50 percent of creators’ income, decreasing the “viability and livelihood” of the community, DLive takes no percentage of earnings and does not charge any fees to content creators, the platform said. Lino Network co-founder Wilson Wei commented: “DLive is a place where instead of competing against each other, it benefits creators to support one another. With no platform cuts, we incentivize everyone to create the highest quality content for viewers.” Lino raised million in February 2018 to build a “YouTube on the blockchain” in a private token sale led by ZhenFund. Wei claimed at the time that he expects content creators to garner three-to-five times the profits they make on YouTube or its competitor, Amazon-owned live streaming video platform Twitch. PewDiePie said in today’s announcement: “I’m excited to start live streaming again regularly! DLive is great for me because I’m treated like a real partner, just like all of the other streamers on DLive’s unique platform.” Story continues Image Sourced From Facebook See more from Benzinga Exchange Volumes May Be Fake, But Bitcoin's Value Is Real Bitcoin Price Jumps To 4-Month High Above ,900 Sudden Bitcoin Price Breakout Sets New Bull Target at Over K © 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Crypto Bull Brian Kelly: Bitcoin Miners are Hoarding, Demand Is Rising: ByCCN: Now that the bitcoin price is holding at the $8,000 level, investors are anxiously awaiting what comes next. Bitcoin’s value has expanded by 50% over the last 30 days, but the bulls are currently taking a breather and momentum appears to have stalled. Crypto fund managerBrian Kellyon CNBC provided some anecdotal evidence that thebitcoin priceis only getting started, not the least of which is that miners are reportedly hoarding bitcoin rather than directing it toward total circulation, which is helping to fuel gains in the BTC price. The bitcoin price has skyrocketed more than 100% year-t0-date. | Source: CoinMarketCap Kelly explains that he has had discussions with bitcoin miners globally and they have liquidated enough of their BTC rewards to keep operations running for roughly the next 12 months. As a result, they’re “hoarding it.” He explained that miners are saying: “We are going to hoard bitcoin at this point in time. We’re not going to sell it.” Their timing couldn’t be better considering that bitcoin’s long-awaited halving event is coming up in 2020. AsCCN has reported, the bitcoin supply is about to be slashed, which by the code’s design occurs every four years. It means that bitcoin miners’ reward for mining a block will be slashed in half. According to Kelly, the BTC price historically rallies in the year prior to and following the halving event. So the catalysts are two-pronged comprised of rising demand and lower supply, the result of which lends itself to a bullish case for bitcoin. Kelly stated: Read the full story on CCN.com. || This Top-20 Crypto Token Surged 50% to Crush the Bitcoin Rally: While Bitcoin has commandeered the spotlight following its massive rally, one top-20 cryptocurrency has surged even higher over the past week. | Source: Shutterstock By CCN : While Bitcoin has commandeered the spotlight following its massive rally , altcoins don’t want to stay entirely aloof from the bullish craze. Ontology (ONT) ranked among the crypto market’s best performers over the past week. Ontology’s bullish explosion began on May 10, when the cryptocurrency surged from just $0.99 to a high of $1.52 today. Thus, ONT has rallied over 50 percent in less than six days, exceeding Bitcoin’s gain of 33 percent for the same period. ontology cryptocurrency price vs bitcoin The Ontology cryptocurrency surged 50 percent in less than a week. | Source: CoinMarketCap While it is true that Ontology has dramatically benefited from the Bitcoin rally and the general bullish mood in the crypto market, it released several announcements that might have pushed the price up even further. Triones Node Applications Are Open On Friday, the Ontology team opened the third round of the so-called Triones node applications, which encourages participation in the blockchain network’s Triones consensus system, launched earlier this month. The latter leverages the VBFT consensus algorithm and utilizes a governance model that focuses on decentralization, high-performance expansion, and incentives. Third round of Triones Node applications will open soon https://t.co/b5lzXfHQI7 $ONT $ONG — Ontology (@OntologyNetwork) May 10, 2019 The 49 most active ONT holders receive significant incentivizes, while nodes below the top 49 will receive ONG from transactions fees only. For those unfamiliar, ONG is the other coin of Ontology’s dual token system. It acts as the utility token used for on-chain services. Read the full story on CCN.com . || Bitcoin Bull Market Is Back: I am hoping that the title to this article will mark the local top to the rally off the December 2018 lows in Bitcoin. But, that does not change our perspective that it is likely that Bitcoin has resumed its bull market run. As we came into 2019, Ryan Wilday and I have been publishing articles about Bitcoin, with our ideal targets for the initial rally off its December 2018 lows pointing to the $6000-7000 region before a top forms. And, as we now find ourselves in our target region, we now can count the minimum number of waves in Bitcoin to mark a near term top. Therefore, as I write this article while Bitcoin is hovering around $6,050, we are still looking a bit higher in the near term, but with more caution than prior articles. Using our Fibonacci Pinball method, we often see the top of a rally at the 200% extension off waves 1 and 2. That level is calculated to be $5725, which means we have moved beyond our standard extension. Yet, the structure was telling us this would likely occur months ago, which caused us to set our targets at least at $6000, with the potential to push as high as $7,000. Moreover, and most importantly, we have now likely moved beyond the critical level signalling commencement of a bull market. What this means for most of those trading Bitcoin is that you will likely see another buying opportunity at lower levels than where we reside today, as we expect a retracement once this rally completes its Elliott Wave structure. And, once we break $4675, it will likely confirm a near term top, and the start of wave 2 retracement, which may last anywhere from a few weeks to a few months. We will adjust this support level should we continue to see higher extensions in the coming weeks. But, for now, that is our signal level to begin to look for another buying opportunity. And, to reiterate what we mentioned at the start of this article, we now see indications that the long term bull market in cryptos has resumed, provided Bitcoin can hold support in the coming wave 2 correction. Since our job is to track market sentiment, it is quite clear that this rally has now generated loud bull voices once again. Perma bulls are feeling vindicated and we’re seeing less articles critical of crypto-currency being published across the web. Most expect that a new bull market is born, as do we. In fact, some that have never previously traded cryptos have started to consider this asset class. But it isn’t that easy. RN Elliott, the discoverer of the Elliott Wave structure, told us in 1936 that 2nd wave retracements crush the hope of bulls, and make many believe that the bear market has returned. Robert Prechter put it best in The Elliott Wave Principle: "Second waves often retrace so much of wave one that most of the profits gained up to that time are eroded away by the time it ends. . . At this point, investors are thoroughly convinced that the bear market is back to stay." The time is coming for cryptos soon. However, before that time approaches, bears will roar again, and bulls may even retreat back to silence. But, given the strong impulsive extension in Bitcoin off the December low, we see strong probability that, despite the impending correction we expect, whether it starts from the $6K or the $7K region, Bitcoin has started a long climb to our long term $65,000 target. Avi Gilburt is a widely followed Elliott Wave analyst and founder ofElliottWaveTrader.net, a live trading room featuring his analysis on the S&P 500, precious metals, oil & USD, plus a team of analysts covering a range of other markets. He recently foundedFATRADER.com, a live forum featuring some of the top fundamental analysts online today to showcase research and elevate discussion for traders & investors interested in fundamental rather than technical analysis. Image sourced from Pixabay See more from Benzinga • Metals Are All At Support © 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin Whales Bought the F**king Dip: Research: Bitcoin whales - investors or firms with at least 1,000 BTC - bought the crypto market dip with a vengeance in late 2018, possibly spurring the 2019 rally. | Source: Shutterstock By CCN : When the whales start splashing, you can be sure that a major Bitcoin market move is afoot. New research reveals that these high-rolling crypto investors accumulated a staggering 450,000 BTC over the past nine months, especially as the market careened toward its bear market lows in late 2018. In other words, the whales bought the freaking dip. And now they’re riding the bull market tidal wave all the way to the bank. Diar: Whales Own 1/4 of All BTC – And They’re Buying More bitcoin whale balances Whale wallets accumulated Bitcoin extremely rapidly toward the end of 2018. | Source: Diar According to the latest issue of Diar , more than one-fourth of all Bitcoin funds are held in “whale” wallets with more than 1,000 BTC each. The research article correlates the increase in significant holdings with the last time Bitcoin was at its current price (last August) and points out that addresses holding this level of coin have increased to over 26% of the circulating BTC supply. The analysis excludes Coinbase -controlled addresses because the US crypto exchange giant created a number of these “whale wallets” when it massively reorganized its cold storage system. If it had included them, then more than 1.2 million BTC would rest in addresses with between 1,000 and 10,000 BTC each. Instead, about 450,000 BTC have entered these semi-active accounts within the last nine months, with major accumulation taking place at the bottom of the bear market in December. Private, non-institutional investors have been accumulating Bitcoin like nobody’s business, and “hodling” it – but not on crypto exchanges. Diar writes: “Bitcoins held by major addresses – mostly of which are exchanges – have seen an exodus of over 300K Bitcoins since the start of 2018. At peak, these addresses held 750,000 more Bitcoins than they do today, 21% of the total circulating supply versus 16% today.” Read the full story on CCN.com . [Random Sample of Social Media Buzz (last 60 days)] @Lawlerpalooza @missc0nstrued @ericswalwell I know it is not cash.I was responding to your comment that bitcoin was treated the same as cash. His lawyers may have gotten it right but that doesn't mean it is right. It seems to me he made a mistake. || ビットコインはもう遅いかも！？ 海外の取引所なら10倍とか100倍とかになる通貨もあるよ！！ お小遣い程度で買ってみたら、もしかしたら1億円とかになっちゃうかも！！ これから伸びる通貨はcoinexchange→　 https://t.co/50e8bZF2BY #BTC #ビットコイン　#仮想通貨 #XRP #ETH #XRP #裏垢 #JC #JK || #crypto mkt cap last hour 🚀 $ETH +124.069m $BTC +92.524m $LTC +51.892m 🌧️ $TUSD -3.064m $DASH -3.020m $MANA -1.769m #bitcoin #cryptocurrency || Will eBay Finally Accept Cryptocurrencies Or It’s Just a Clever PR https://t.co/JXebQ6I9eg #Bitcoin #Cryptocurrency #Ethereum #Altcoins #Amazon || Tron ve BitTorrent fiyat analizi ve tahmini https://t.co/y0C9C5HmPj #btc #bitcoin #altcoin #kriptopara #eth #ethereum #kriptoparahaber #altcoin #BitTorrent #BTT #tron #Altcoin #AltcoinHaber || Bitcoin spikes to $7,500 | Smashes through resistance &amp; gains significan... https://t.co/rVEQjToHow well explained by @Nicholas_Merten have a check folks @Shivfreespirit @SuriCrypto @deepakdbz || Ricardo is Excellentist founder！ #Aidoskuneen #AidosMarket #EOS #XTZ #Tezos #BITCOIN #ETH #XRP #blockchain #ADA #TOYOTA #coincheck #huobi #ETF #binance $ADK #coinbase #SEC #BCH #token #crypto #Bitfinex || $PNTV News https://t.co/8rmoY1VMnI #ad #wsj #nytimes #reuters #bloomberg #thestreet #forbes #nasdaq #IHub_StockPosts #newyork #business #cnn #bet #foxnews #bitcoin #blockchain #crypto #cannabis #weed #marijuana #CBD #Colorado #Recreational #Dispensary https://t.co/vwDeDfxF30 || BTC恐怖指数：80.35 https://t.co/g3En5cVg3B || BTC こう見ると如何に今が激しい攻防かが見て取れますね。 6600$を超えたあたりに大量のショートのロスカット注文が置かれていると想定できます。 その後は空白地帯。上昇のための大きなチャンスです。 そしてここを上に抜けると大きなEW3波が現実味を帯びてきます。 https://t.co/dwzxGMrOze
Trend: no change || Prices: 8209.00, 7707.77, 7824.23, 7822.02, 8043.95, 7954.13, 7688.08, 8000.33, 7927.71, 8145.86
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 2020-05-29] BTC Price: 9439.12, BTC RSI: 56.87 Gold Price: 1736.90, Gold RSI: 55.63 Oil Price: 35.49, Oil RSI: 62.66 [Random Sample of News (last 60 days)] UMA Project Creates Its First Synthetic Coin, Matching ETH Against BTC: Want to bet the price of ether (ETH) is rising relative to the price of bitcoin (BTC)? There’s now a token for precisely that. On Tuesday night, the UMA Project community approved contracts that allowed creating its first token: ETHBTC. This is a synthetic token whose value tracks the relative value of ETH to BTC, so if ETH is worth $200 and BTC is worth $10,000, an ETHBTC should be worth $0.02. The intriguing thing about ETHBTC, though? No ETH or BTC is needed to make it. Related: Why Kyber Network Tokens Tripled to $100M Despite the Coronavirus Recession This will be the first deployment of what UMA, a decentralized finance (DeFi) project, calls the priceless token model , one built from the start to minimize the need for oracles. “ETHBTC was selected as the first test for UMA’s priceless synthetic design because it’s DeFi-centric but not too serious,” Hart Lambur, UMA’s co-founder, told CoinDesk in an email. “This first token is still experimental, so it felt wise to choose a product that appeals to hardcore DeFi natives – the type of people that might want to bet on this rate, and who best understand the risks of ‘new’ things.” ETHBTC is available now on the new Uniswap , though the team is warning interested buyers: “The mechanisms behind this design have not been proven in the wild. Users should proceed with extreme caution.” Representing BTC on Ethereum to prove its value as collateral has become a prominent theme for DeFi in 2020. ‘ Priceless ‘ Related: Why $4M Dai Made From WBTC Matters for DeFi’s Maturation Below is an explanation of how ETHBTC is created, and it should basically describe how any other synthetic tokens might be created on UMA, though some of the variables will likely change. To generate ETHBTC, a user posts dai as collateral to the smart contract. Based on the collateralization rate of 120%, the contract will allow the user to generate a specific amount of ETHBTC. They can then sell the new ETHBTC on the open market or they can use it to add liquidity to the ETHBTC pool that will be created on Uniswap (most interested buyers will probably choose to just acquire it directly on Uniswap). Read more: Trust No Dapp: Chainlink Launches Oracle for Provable Randomness UMA’s synthetic tokens trade like any Ethereum-based token until their contract comes to an end. At that moment, the staked DAI will be split between token holders and stakers. If the value of ETH vs. BTC has gone up at the close of the contract, the token holder will get a profit on what they paid for it. If it hasn’t, the staker will earn a profit on that original sale as the contract releases more dai back to them. Story continues So token holders are long and stakers are short ETHBTC. Lambur described it as “a sort of meta-bet on DeFi as a whole,” because the most likely explanation for growth in ETH uncorrelated to BTC would be more people using DeFi products. This is all quite new. The UMA team noted in their message that this is very much an alpha test in the real world. While it has been audited by OpenZeppelin, users should be very cautious about the amount of risk they take on. “We strongly encourage interested users to do their own research and proceed with caution in this experiment,” Lambur wrote. Eliminating oracles Under the priceless token model, UMA does not need an oracle to function on a day to day basis. “What we’re saying is: Let’s not do any on-chain price ever,” Lambur told CoinDesk in an interview. “This is how you’re going to have to scale DeFi,” he added later. The idea here is that everyone knows that the contract is going to have this defining moment when it comes to the end and the stakes get split up between stakers and coin holders. If the definition of the price is clear and transparent to everyone, the truth of the world should not be confusing at that moment. If so, then an oracle will never be necessary. People will just see what the truth was and accept that outcome. “Minimizing the dependency you have on your oracles is just good system design,” Nik Kunkel, on the oracles team at MakerDAO , told CoinDesk. “This type of oracle’less design is very unique to their system and the characteristics of the UMA system. It can’t really be applied anywhere else.” Read more: Uniswap V2 Launches With More Token-Swap Pairs, Oracle Service, Flash Loans This was a point that Sergey Nazarov, creator of Chainlink , a network of oracles, also emphasized. “If you say, ‘I’m not going to build data feeds to build financial products,’ the number of financial products you can build is very small,” Nazarov said. “I think what they are doing is essentially an interesting experiment.” That said, Lambur compared UMA’s approach to paper contracts in the real world. Traditional contracts don’t have to be publicly posted to function and most of the time no one but the parties ever see them because every one honors their side of the deal. “We are really trying to frame the oracle itself as being like taking someone to court,” Lambur said. In order to backstop price throughout the life of the contract, UMA also has a liquidation model. If anyone spots an undercollateralized position, they can trigger a liquidation event. Again, if they initiated it accurately under the conditions, ostensibly there will be no need to turn to oracles. If there’s a dispute, UMA token holders will settle it by coming together to vote. The holders who voted on the winning side will be rewarded in new token emissions. The economic model of UMA is designed so that it will always be unprofitable to buy up UMA tokens in order to vote through a false choice. “The tokens themselves, the token holders, form this court system which ultimately is the security of the whole platform,” Lambur said. “The whole overall premise for our token economics is we need the cost of bribing the system to be greater than the value of the system.” Related Stories Market Wrap: Here’s Why Ether’s Price Has Jumped 65% So Far This Year Hybrid Blockchain Maker Kadena Adds Chainlink Price Feeds View comments || GreenBox POS (GRBX) Adds Bitcoin and Crypto Capabilities: SAN DIEGO, CA / ACCESSWIRE / May 8, 2020 /GreenBox POS ("GreenBox", "GRBX", the "Company") announced today the addition of Bitcoin and other Crypto currencies as acceptable digital form of payments on the Company's ecosystem. GreenBox has been paying close attention to the evolution of Crypto currencies, their security, privacy, and acceptance for years. In recognition of the increased demand for payouts in Crypto currencies, Bitcoin in particular, the Company invested in the technology necessary to bring this feature to its clients at the elevated competency standards that they have come to expect from GreenBox. Until now, GreenBox specialized in Blockchain ledgering technology and strategically refrained from accepting Crypto currencies. As the Company's integrated technology has made it safer and more reasonable for clients to use, the Company is now embracing the opportunities these digital payments bring, and will be accepting and transacting in Crypto Currencies. GreenBox accepts over 100 different Crypto currencies including Bitcoin, Ethereum, Ripple, Tether, Litecoin, EOS, Binance, Tezos. GreenBox's customers can decide for themselves which type of Crypto payment best fits their needs. In addition, GreenBox offers its clients Crypto currency to pay into the ecosystem. Clients can select from the same set of Crypto options to fund their accounts within GreenBox's ecosystem. The Blockchain ledger itself remains independent of the currency being recorded on it. "The beauty of Crypto is that it can touch every country in the world instantly," stated CEO Fredi Nisan. "It can be difficult to send payments to countries whose infrastructure and reporting is not set up for rapid and repetitive payments. Adding Crypto to our repertoire allows GreenBox to reach those corners of the world where payments previously have been challenging or even impossible." About GreenBox POS: GreenBox POS ("GRBX", "GreenBox") is a groundbreaking technology company that builds customized payment solutions for a variety of industries. GreenBox develops individual disruptive applications integrated in an end-to-end suite of financial products, supporting multitude of industries with an emphasis on Blockchain secured ledger technology. A main business focus is in blockchain ledgering services, capable of handling large commercial processing volumes for its merchant clients in myriad of business verticals. GreenBox is now capable of managing both legacy currency transactions as well as crypto payouts. GreenBox's main operating geography remains the USA, with additional capacity, clientele and technology availability developing in other countries. For more information, visit the Company's website athttps://www.greenboxpos.com/ Forward-Looking Statements Disclaimer: 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 Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the Company's SEC filings. These risks and uncertainties could cause the Company's actual results to differ materially from those indicated in the forward-looking statements. Public Relations and Media Contact: GreenBox POSwww.GreenBoxPOS.comOffice: [email protected] SOURCE: GreenBox POS, LLC View source version on accesswire.com:https://www.accesswire.com/588982/GreenBox-POS-GRBX-Adds-Bitcoin-and-Crypto-Capabilities || Here's Why Gold Prices Are Rising And Silver Prices Are Falling: This year has been a strange year in Wall Street no matter how you look at it. But at least one strange dynamic between the prices of gold and silver actually has a somewhat simple explanation. TheSPDR S&P 500 ETF Trust(NYSE:SPY) is down 10.8% year-to-date in 2020. So far this year, theSPDR Gold Trust(NYSE:GLD) has been a major market leader, gaining 11.6%. But at the same time, theiShares Silver Trust(NYSE:SLV) has been a significant laggard, dropping 16.9% on the year. In fact, the ratio of gold-to-silver prices is currently around 116, its highest level in history dating back to ancient times, according to DataTrek Research co-founder Nicholas Colas. History Lesson For hundreds of years, the ratio of gold-to-silver prices ranged from around 15 to around 20 up to the point the U.S. came off the gold standard in the 1970s. Since that time, the ratio has spiked significantly above 40 several times. Colas said these spikes have typically occurred during periods of economic and/or geopolitical instability. While it may seem strange for gold and silver prices to be heading in opposite directions, Colas said the key to the strange dynamic lies in the demand drivers for both metals. Industrial demand accounted for about 51% of silver demand in 2019 and only 9% of gold demand. At the same time, gold demand is driven much more by investors, who see the metal as a flight-to-safety trade during times of market turmoil and periods in which investors are fearful of inflation. Given industrial demand has plummeted due to coronavirus (COVID-19) shutdowns and investor demand for gold has jumped due to concerns about the global economy, Colas said it makes perfect sense why the prices of the two metals are heading in opposite directions. “Silver prices won’t recover until the global economy and industrial production do, so the gold/silver ratio at all-time highs makes sense,” he said. Benzinga’s Take For investors who believe the worst of the COVID-19 crisis is now passed and an economic recovery is imminent, the high gold-to-silver ratio could present an interesting pair trade opportunity. Traders who anticipate the gold-to-silver ratio will ultimately regress toward its long-term average could consider buying the SLV fund and shorting the GLD fund. Do you agree with this take? [email protected] your thoughts. Related Links: 7 ETFs To Buy In A Recession 7 Ways To Invest In Gold Amid Coronavirus Fears Latest Ratings for GLD [{"Apr 2013": "Apr 2013", "Oracle Investment Research": "Oracle Investment Research", "Initiates Coverage on": "Initiates Coverage on", "": "", "Strong Buy": "Strong Buy"}] View More Analyst Ratings for GLDView the Latest Analyst Ratings See more from Benzinga • 7 Best-Performing Stocks Of 2020: Buy, Sell Or Hold? • Bitcoin Is Still Failing As A Flight To Safety Investment © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Trump Signs Executive Order To End Social Media Legal Immunity For Third-Party Content: President Donald Trump signed anexecutive orderlate Thursday aimed at limiting social media platforms immunity from legal actions arising out of third-party content posted on their platform. Barr To Frame Draft Legislation The president said Section 230 of the Communications Decency Act enacted back in 1996 aimed at preserving online free speech, while giving the companies a chance to target harmful material, especially one targeting minors. According to the executive order, social media companies have instead used the "Good Samaritan' blocking" measure to "stifle viewpoints with which they disagree." Social media companies, includingTwitter Inc.(NYSE:TWTR),Facebook Inc.(NASDAQ:FB) and its subsidiary Instagram, andAlphabet Inc.'s(NASDAQ:GOOGL) (NASDAQ:GOOG) YouTube "wield immense, if not unprecedented, power to shape the interpretation of public events; to censor, delete, or disappear information; and to control what people see or do not see," the president said on the need for amending the law. The order calls for the United States Attorney General William Barr to create draft legislation on the matter to be considered by the Congress. Trump said at the time of signing the order that the Department of Justice could propose either to "just remove or totally change" Section 230, the Wall Street Journalreported. Barr said the department would frame the draft in a way to restore the immunity's use to its original intent. Move Follows Twitter Spat The president signed the order after hisscuffle with Twitterover the latter labeling one of his tweets on mail-in ballots as misinformation. "Twitter now selectively decides to place a warning label on certain tweets in a manner that clearly reflects political bias," Trump said in the executive order. "As has been reported, Twitter seems never to have placed such a label on another politician's tweet." The president further accused social media giants of "profiting from and promoting the aggression and disinformation spread by foreign governments like China." Twitter flagged a tweet from the Chinese government spokesperson accusing the U.S. army of bringing the novel coronavirus (COVID-19) to Wuhan as misinformation earlier in the day, Reutersreported. Price Action Twitter shares closed nearly 4.5% lower at $31.60 on Thursday. Facebook shares closed 1.6% lower at $225.46, and Alphabet Class A shares closed 0.1% lower at $1,418.24. Image Credit: whitehouse.gov See more from Benzinga • Tech Companies Aren't 'State Actors,' Judge Dismisses Conservative Bias Lawsuit Against Facebook, Twitter, Google, Apple • Goldman Sachs Investor Presentation On Bitcoin Released, Gets Crypto Community Angry • Tesla Leads Electric Car Sales In South Korea Thanks To Model 3 © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || How Imposters Scam Entrepreneurs Out of Their Crypto: On Jan. 31, a Telegram user calling himself “Danny Nelson” contacted Karla Vilhelem, a public relations professional, with an unseemly proposal. Pretending to be the CoinDesk reporter of the same name, he said he would publish a post about her client but wanted $600 for his trouble, a small sum for exposure on the crypto site of record. Vilhelemwas wary. After three years in the industry, she was used to scammers impersonating major players in the crypto ecosystem and, more frustratingly, so-called journalists asking for cash. She advised clients never to pay for coverage, and the proposition made her suspicious of this so-called Danny Nelson. Related:Hacker Exploits Flaw in Decentralized Bitcoin Exchange Bisq to Steal $250K “I knew CoinDesk doesn’t take money,” she said. Another tell-tale sign was her interlocutor’s atrocious grammar, and mispunctuation of the brand name, which is spelled with a capital D. “I’ll get the vital informations [sic] needed to write and publish your project article review on your website or whitepaper,” the faux Danny Nelson wrote. “It cost [sic] $600 to write and publish your project article on Coindesk because I’ll have to pay for some logistics.” Still, Vilhelem was curious. When would she have to pay? Related:FBI Used Bitcoin Trail to Catch Russian Rapper Accused of Money Laundering “You have to pay Before [sic] I can proceed with the work because I’ll have to pay for some logistics,” he said. Whatever the “logistics” involved, Vilhelem refused his offer after checking the real Danny Nelson’sTwitter profileand seeing his real Telegram handle. She contacted the CoinDesk team to report the imposter and sent along images of their Telegram exchange. (You can look for real contacts forCoinDesk reporters on our masthead.) This impersonator never made off with Vilhelem’s money. Others weren’t so lucky. At least three startup founders have been scammed in similar situations, CoinDesk has found. We explored two of these scams to better understand how they worked. Working with blockchain investigations companyCoinfirm, we wanted to see where the money was going and if we could learn anything about the perpetrators. The ultimate goal: to prevent it from happening to anyone else. This scam is as old as journalism. Someone pretending to represent a major media company will approach a small business offering to write about them… for a price. In the days before the internet, corrupt public relations professionals and fake reporters would offer pay-for-play articles in newspapers. Now, online imposters request products like computers, laptops and cameras from companies, offering to “review” them on major news sites. Thanks to anonymous payments, scammers can ask for cash in exchange for ink. What makes this particular scam unique are the lengths the perpetrators will go to appear legitimate. Many create fake Telegram accounts – the hacker who tried to scam Vilhelem used @danielnelson – and then approach entrepreneurs in chat rooms on the internet. The exchange usually is straightforward unless the victim asks for more proof. To maintain the facade, the scammers use a few other tricks, including spoofing email addresses. For example, some mail clients let you hide the source of emails, but in many cases, even the email headers are insufficient in identifying real or fake emails. In Gmail, users can click on “Show Original” from the top right: Yes, the header often can look very confusing to someone who’s never seen one. But here’s the most important part: The first thing to look for in the header is an email address that is not part of the email conversation. That’s clearly a sign of misdirection and something to bring up with a sender. Here’s a rough example (for illustrative purposes only, as headers are subject to change depending on email and anti-spam providers): Remy Eisenstein, victimized by a fake CoinDesk reporter, was so frustrated by past scams he created a system to prevent email spoofing. CalledSafePost, he said it uses a blockchain to confirm emailers are sending from a verified address. So how did he, of all people, get hoodwinked? Eisenstein noticed his scammer (posing as CoinDesk’s Ian Allison) had a strong-looking LinkedIn profile, another tool scammers use to fool victims. “I told myself, ‘Okay, let’s imagine you have just 10 contacts on your Linkedin the page. I can imagine this is a fake’,” he said. “But in this case I saw more than 500.” In another case we saw, the scammers created a real-looking LinkedIn profile for a CoinDesk writer and then immediately deleted it after the victim checked him out, erasing the evidence. Almost all the scammers are stuck in the digital realm, although one sent a faked passport for CoinDesk Executive Editor Marc Hochstein, complete with a date of birth that made him seem older than he is. The constant know-your-customer (KYC) information requests of many exchanges seem to have trained scammers to forge official-looking documents. All these tricks are often enough to fool busy entrepreneurs who will happily send payment in exchange for coverage. Then the whole thing unravels. Once the scammers receive payment, said Pawel Kuskowski, CEO of Coinfirm, they usually transfer it to an exchange where they could, in theory, be tracked but in reality, rarely are. That’s where the trail ends because they never reply to the victim again. “Working with CoinDesk to highlight these cases shines a light on how industry players need to further work with security platforms so they don’t facilitate these scams,” said Kuskowski. To understand more about the scammers and where they were sending their ill-gotten gains, we worked with Coinfirm to trace payments made by two victims who contacted us only after falling for our impersonators. First, we traced more than $2,000 worth ofbitcoin(BTC) that one entrepreneur sent to a scammer in exchange for a post. The scammer asked the victim to send the 0.23 BTC to an address he controlled,19BkZZKsQPv14QAP2MJr8fNdwBBTRQxHvT. The victim paid on March 4 and within hours the scammer sent the funds to another address he may also have controlled,1GJDn7MezDZjvt8ECD6yDYxPdYPjLDNqai. The chain of transactions suggests the scammer has a verified account on Paxful. For one thing, the second address received a number of deposits from addresses Coinfirm identifies as belonging to Paxful based on regular patterns, or clusters, of transactions. And if we zoom out the lens, we see that on March 9, five days after ripping off our known victim, the scammer’s walletreceived 0.37 BTC from another party, anddeposited itstraight into Paxful: Coinfirm researched another victim’s transaction and was able to track its path through the Ethereum blockchain. In this case, the scammer, the Hochstein impersonator with the forged passport,received $150 in USDC, a stablecoin that trades 1-for-1 with the U.S. dollar, from the victim. The victim’s wallet is in dark blue in this chart. About $35 went to0xa356acd1e8cd97a33a65ab7845c7f21b8921b276(the yellow wallet in the middle in the chart) and then sent to a wallet allegedly connected to lending platform BlockFi. For simplicity’s sake, these wallets do not include the standard Ethereum address header “0x” in the chart. The other $115 went to0x87a1865e3ae422385b7d1beb66ad43b2e847f7f6(green wallet in the middle of the chart ) and then went to a wallet that appears to be affiliated with crypto exchange NEXO. “Although the dollar amount itself isn’t substantial in this particular case, these methods are applied on a wide scale and have affected countless people as well as exposed companies to money laundering risks,” said Kuskowski. CoinDesk is in contact with representatives from Paxful andBlockFiand the companies are investigating the fraud and may be able to recover the funds. Teodora Atanasova, who does business development at NEXO, said the company is “extremely diligent in tracking down fake accounts, Telegram groups and all kinds of fraudulent activity and I have personally been dealing with a lot of scammers and impersonators lately as they seem to have gotten even more active in the current situation amid the market turmoil.” Indeed, a funny thing happened when I approached the company in a public Telegram group. Two users reached out to me, each identifying himself asBeyhan Ahmed, a community manager at NEXO. One of them was the real Beyhan, whose Telegram handle is @BeyhanNEXO. He put me in touch with Atanasova. The other one went by @BehanNexo, conspicuously missing the “y” in his handle. To hear him tell it, he was very high up in the organization. “I am Mr Beyhan, the officiating officer for nexo and head of marketing team,” he wrote. “You request for me, that’s why I have contacted you.” This obviously fake Beyhan offered me a “license” to write a story about NEXO and the opportunity to post my story on … the company’s website, I guess? The details weren’t exactly clear, but I strung him along for kicks, as one might do with adodgy telemarketer. The discussion went back and forth for a few minutes and, as expected, my “officiating officer” needed a little cash to get the job done. For the record, I never sent him the money. Sadly, there is no sure-fire way to prevent these kinds of scams. Double- and triple-checking backgrounds is often insufficient and, given the ease with which scammers more sophisticated than “Behan” can recreate identities, due diligence is almost impossible. That said, respectable news organizations would never ask for cash in exchange for coverage, be it CoinDesk or the New York Times. Scammers are out there preying on the distracted and frustrated. Our hope is you don’t become one of their victims. As for my would-be scammer, he disappeared and deleted our conversation when I sent him a link to my “transaction” featuring a lurid picture from Wikipedia. We are currently tracing his bitcoin address, which seems to be empty. Last week another “NEXO representative” approached me on Telegram offering support. I blocked him. • AT&T Files for Dismissal in $24M Phone Hack Case, Claims Crypto Exec Didn’t Read Terms • Thousands of Microsoft Servers Infected by Crypto-Mining Botnet Since 2018, Says Report || DMG Provides Positive Business Outlook, Raises Self-Mining Compute Power Target: VANCOUVER, British Columbia, May 19, 2020 (GLOBE NEWSWIRE) -- DMG Blockchain Solutions Inc. ( DMGI.V ) (DMGGF:OTC US) ( 6AX.F ) (“ DMG ” or the “ Company ”), a diversified blockchain and technology company, is pleased to present its new corporate presentation including the Company‘s updated operational business outlook. In advance of its conference call tomorrow, DMG is providing an update on its outlook and plans for the fiscal years 2020 to 2023. DMG has raised its financial expectations to reflect stronger than anticipated market developments, with an expectation that trends will continue to significantly favor DMG’s business model in the years ahead, while remaining competitive in an increasingly innovation driven and energy cost dependent bitcoin mining industry. The Company expects its self-mining compute power to increase following the strong growth in bitcoin price. As a result, the Company is now raising its business projections accordingly. Increasing self-mining compute power will require the Company to secure sufficient capital through equity, debt, or joint ventures in order to purchase additional miners, add more megawatt capacity to the Company’s existing mining facility, and potentially acquire a second or third mining facility. Self-Mining Division DMG intends to expand its self-mining efforts with a goal to becoming one of the largest North American bitcoin mining companies by compute power. DMG will continue its strategy to blend self-mining with hosted mining for third-party clients. This model allows the Company to earn consistent revenues from hosting, and at the same time benefit from surges in BTC value from self-mining. DMG forecasts that approximately 65% of its mining capacity at its facility will be for self-mining by the end of 2021. DMG’s forward-looking forecasts are based on adding self-mining compute power on a consistent basis over the next three years. DMG will acquire mining hardware at regular intervals (subject to securing sufficient capital to make such purchases) to ensure that the fleet includes the most efficient hardware available at all times and to avoid the need to replace the entire fleet simultaneously in the future. Story continues Hosted Mining DMG currently serves a variety of hosted mining clients and intends to significantly grow its hosted mining operations by encouraging existing clients to upgrade their miners, and to add additional hosted mining clients through its business development and marketing efforts. Other Business Divisions DMG continues to develop and license its proprietary software products including Mine Manager, Blockseer, and Walletscore, and is currently working to merge Blockseer and Walletscore into a single platform. In the near future, DMG will provide more comprehensive details on these software products. ‘Wazabi’ is still in the early stages of development and has not yet been commercialized. Soon DMG will also provide more comprehensive details on Wazabi’s progress and outlook. Competitive Advantage DMG owns its own 84MW substation and currently has in place infrastructure to support 45MW of mining. DMG’s mining team is one of the most experienced globally, and its Mine Manager software ensures tremendous data centre uptime and efficient service and maintenance processes. DMG expects to employ various methods in order to expand its self-mining and hosted mining capacity. These may include outright purchasing of mining hardware, financing, or strategic partnerships with various OEM manufacturers and investors. Conference Call Daniel Reitzik, the Company‘s CEO, states: “We look forward to providing our shareholders, partners, and other stakeholders with an update on the Company’s current and future efforts. Please join us tomorrow at 9:00 a.m. PST by logging on to: https://us02web.zoom.us/s/81091822055?pwd=N2Y1MWJ0SmwzZ0NkK091cy91TnNwdz09 -Password: 851780” DMG intends to share its new presentation and to explain and discuss its recently announced new mining overview. (To access PDF versions of both documents, please go to www.dmgblockchain.com/investors ). The Company will host a presentation on Wednesday, May 20, 2020, at 9:00 a.m. PST, and DMG’s CEO Dan Reitzik, COO Sheldon Bennett, and CTO Adrian Glover will provide a more detailed business update during that call. To join the event, please use the above-mentioned Zoom link (and please call in approximately 10 minutes in advance to participate in the live call). Alternatively, you will have the opportunity to listen to the conference call afterwards by accessing an archived version of the call on the Company‘s website (to submit questions before the call to management, please email John Martin at [email protected] ). About DMG Blockchain Solutions Inc. DMG is a diversified cryptocurrency and blockchain platform company that is focused on the two primary opportunities in the sector – mining public blockchains and applying permissioned blockchain technology. DMG focuses on mining bitcoin, providing hosting services for industrial mining clients, earning revenues from block rewards and transaction fees, developing data analytics and forensic software products, working with auditors, law firms, and law enforcement to provide technical expertise. DMG’s permissioned blockchain technology is focused on developing enterprise software for the supply chain management of controlled products. DMG’s strategy is to become the domain experts across the business verticals it focuses on. DMG’s management team includes seasoned crypto experts, forensic & financial professionals and blockchain developers with deep relationships throughout the industry, with previous experience working at Bitfury, PwC, EY, Cisco and UBS. For more information on DMG Blockchain Solutions visit: www.dmgblockchain.com On behalf of the Board of Directors, Daniel Reitzik, CEO & Director For further information, please contact: DMG Blockchain Solutions Inc. Investor Relations: John Martin Toll Free: 1-888-702-0258 Email: [email protected] Web: www.dmgblockchain.com Direct: 778-868-6470 Cautionary Note Regarding Forward-Looking Information This news release contains forward-looking information based on current expectations. Statements about the Company’s plans to increase petahash (PH) by self-mining, securing financing to complete the Company’s business plans, adding more megawatts, acquiring additional facilities, price of bitcoin, plans and intentions, other potential transactions, acquisition of customers, product development, 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, 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; 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, 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. DMG’s forward-looking projections are based on securing necessary financing through equity, debt or joint venture structures in order to finance required investments for new mining equipment until 2023 and beyond. Currently, the Company does not have sufficient capital or financing available to complete the entire expansion through 2023 and plans to seek the required funds in the relevant fiscal periods. However, DMG may face difficulties obtaining sufficient financing and in a timely manner to support the Company’s future growth goals. If DMG is unable to raise additional working capital, then DMG might be unable to fully fund its expansion and to otherwise execute its outlined and projected growth plan. The securities of DMG are considered highly speculative due to the nature of DMG’s business. 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, 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, 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. 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. || How Financial Models Could Move Bitcoin’s Price After the Halving: Tobias A. Huber is a researcher with the Department of Management, Technology and Economics at ETH Zurich, in Switzerland. Every four years, the Bitcoin protocol halves the block reward that miners receive when they contribute a so-called “block” of transactions to the blockchain. Currently, the reward is 12.5 bitcoins per block. The next halving will occur, soon, in May 2020. Built into the protocol to controlbitcoin’s(BTC) inflation, the previous halvings have coincided with massive rallies. After the first halving, which occurred in November 2012, bitcoin’s price increased from $12 to more than $650. After the second halving in July 2016, the price accelerated to almost $20,000 in late-2017. Related:Looking for a Halving Payday? Quick Wins in Investing Are Rare See also:CoinDesk Report – Bitcoin: The Halving and Why It Matters While it’s, of course, uncertain whether the next halving will accelerate prices, the halvings seemed to have driven bitcoin’s previous hype cycles. Naturally, the next halving has generated an intense debate whether it’s already priced in or not. A popular model that’s often evoked in these debates is theStock-to-Flow model. It models the price of bitcoin based on the so-called “stock-to-flow ratio,” which, initially, was used to value gold and other raw materials. By relating the “stock” – i.e., the quantity issued – to the “flow” – i.e., the annual issued quantity – the model derives a prediction of a bitcoin price post-halving of $55,000 to $100,000 (which would correspond to a market cap of more than $1 trillion). Unsurprisingly, the stock-to-flow model has attracted quite someattentionafter it was published in March 2019. Various attempts to falsify the model have been launched, and for bitcoin maximalists, it was another boost to their hyper-bullishness. Related:Bitcoin Takes Tumble, Traders Fret Correlation and Next Month’s Halving See also:Bitcoin Halving, Explained Now, according to theEfficient Market Hypothesis(EMH), prices are just incorporating new information. It assumes the market is sufficiently fast and responsive to converge on an equilibrium price that correctly reflects all external, or so-called exogenous information. All market-internal, or endogenous processes, in turn, are already reflected in prices. In this view, only exogenous inputs – for instance, an exchange hack, a central bank announcement, or a geopolitical event – can change investors’ anticipations and prices. Consequently, extreme events, such as bubbles or crashes, result simply from exogenous news that hasn’t been factored into prices yet. For proponents of the EMH, bitcoin’s supply schedule – which is encoded into the protocol and known since the inception of the network – constitutes endogenous information and should, accordingly, already be priced-in. And, most likely, most sophisticated market participants, such as market makers, have done so. But this doesn’t mean, the halving is fully priced-in. Financial modeling is not a hard science like physics. The models don’t just faithfully reproduce markets; they actively transform them. There’s robustevidencethat prices move too much compared with what one would expect from the EMH. Research shows only a small fraction of price movements can be explained by relevant news releases. Such findings suggest that price dynamics are mostly driven by endogenous positive feedback mechanisms between investors’ anticipations and prices – a phenomenon George Soros has described as “market reflexivity.” In my opinion, irrespectively of whether the stock-to-flow model is valid or not, whether one believes in the EMH or expects an epic rally that will trigger hyperbitcoinization, what’s often under-appreciated in these debates is the fundamentally reflexive nature of financial markets. Markets, and especially bitcoin, are reflexive phenomena. There’s a positive feedback mechanism between expectations and prices: expectations affect prices, which, in turn, influence traders or investors’ expectations and behavior. It’s this self-reinforcing positive feedback loop that’s also at the core of speculative bubbles and market crashes. See also:For Crypto Miners, Bitcoin’s Halving Could Mean a Doubling in Costs Because of these reflexive dynamics, models can shape financial markets. Historically, there have been a few cases where a model re-oriented the market it’s supposed to model. The famousBlack-Scholes options pricing model, for example, resulted in increased conformity between option price patterns and the model. That is, until the 1987 crash broke its validity. Similarly, currentshort-volatility strategies– which use volatility both as an input for risk-taking and a source of return – have a transformative effect on equity markets, as they result in a systemic suppression of volatility. Financial modeling is not a hard science like physics. The models don’t just faithfully reproduce markets; they actively transform them. They become what the famous sociologist Robert K. Merton called self-fulfilling prophecies. (Ironically, Merton was the father of Robert C. Merton whose infamous hedge fund Long-Term Capital Management became itself a self- fulfilling prophecy of financial doom.) So, bitcoin’s halving, or the predictions of models such as the stock-to-flow model, could themselves become self-fulfilling prophecies. This could result in a self-validating feedback loop of upward price acceleration. This isn’t to say that it will happen. But if enough investors and traders start to believe in them, the model and the reality might indeed start to converge. • Zero Interest Rates Could Hamper the Stablecoin Business • Letter from the Philippines: Life During Coronavirus || DEADLINE TODAY: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against Canaan Inc. and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm: Los Angeles, California--(Newsfile Corp. - May 4, 2020) - The Schall Law Firm , a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Canaan Inc. (NASDAQ: CAN) ("Canaan" or "the Company") for violations of the federal securities laws. Investors who purchased the Company's securities pursuant and/or traceable to the Company's initial public offering ("IPO") on or about November 20, 2019, are encouraged to contact the firm before May 4, 2020. If you are a shareholder who suffered a loss, click here to participate . We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com , or by email at [email protected] . The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member. According to the Complaint, the Company made false and misleading statements to the market. Canaan claimed to engage in "strategic cooperation" which was really just a related-party transaction. The Company was in a weaker financial position than it reported. The Company removed many distributors immediately before the IPO, many of which were of dubious quality. Many of the Company's Chinese customers were not in the Bitcoin industry and were therefore not likely to buy its products again. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Canaan, investors suffered damages. Join the case to recover your losses. The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation. Story continues This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics. CONTACT: The Schall Law Firm Brian Schall, Esq., www.schallfirm.com Office: 310-301-3335 [email protected] SOURCE: The Schall Law Firm To view the source version of this press release, please visit https://www.newsfilecorp.com/release/55326 || Quantitative Tightening and 5 Key Questions for Our Changing World: As we wrap up another crazy week – 6.6 million more jobless claims, $2.3 trillion more in stimulus – NLW lays out the key themes and questions to think about over the long Easter weekend. 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 . On today’s episode: Crypto-dollarization: Why money is pouring into USD stablecoins and how it could create a future on-ramp to bitcoin (BTC) “Quantitative Tightening”: Why a new brand for the bitcoin halving could help us better capture a unique narrative moment What it takes to get the economy back to work: Beyond the political hemming and hawking, how can we force the real, nuanced conversation of turning the economy back on? What it takes to rebuild as a Resilience Economy – and how can bottom-up networks get started now? Moments of transition are moments of leverage: What opportunities can each of us take advantage of? Related: Making Sense of the SEC’s Case Against Telegram See also: Nic Carter: ‘If You’re Not Radicalized, You’re Not Paying Attention’ 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 Bitcoin Halving: How Miners Are Preparing for Lower Block Rewards Rebuilding the Resilience Economy, Feat. Anthony Pompliano Bitcoin News Roundup for Thursday, April 9, 2020 || Bitmain rival MicroBT launches 3 new bitcoin miners ahead of halving: MicroBT, a Chinese bitcoin miner manufacturer which is in a neck-and-neck competition with Bitmain, has launched three new machines. These are WhatsMiner M30S+, M30S++ and M31S+, MicroBT COO Jianbing Chenannouncedin an online conference on Friday. Chen believes the bitcoin mining hardware market is now entering the "3X era" - "low power consumption ratio, high stability, and one-year long warranty service" - referring to three features of new WhatsMiners. MicroBT recentlysaidthat the power consumption ratio of WhatsMiner M30 series would be lower than 50W/T (watts per terahash). A lower W/T ratio helps bitcoin miners with a higher gross margin. At today's event, Chen also provided details on MicroBT's sales numbers. He said the firm sold 600,000 units of its WhatsMiner M20 series in 2019 as compared to 300,000 units of WhatsMiner M3 series in 2018. The 2019 sales figure accounted for 35% of bitcoin's network total computing power, as compared to 9% in 2018, said Chen. The launch of new WhatsMiner machines comes ahead ofbitcoin's third halvingin mid-May, which will see the amount of bitcoin produced with each new transaction block fall from 12.5 BTC to 6.25 BTC. Bitcoin miners are also updating their rigs to prepare for the halving and the new machines could help them. [Random Sample of Social Media Buzz (last 60 days)] None available.
Trend: no change || Prices: 9700.41, 9461.06, 10167.27, 9529.80, 9656.72, 9800.64, 9665.53, 9653.68, 9758.85, 9771.49
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 2019-04-22] BTC Price: 5399.37, BTC RSI: 73.06 Gold Price: 1273.50, Gold RSI: 37.87 Oil Price: 65.70, Oil RSI: 71.90 [Random Sample of News (last 60 days)] Latest Bitcoin SV price and analysis: About Bitcoin SV Bitcoin SV (BSV) is currently trading at around $66 with a price increase of 0.38% against USD and 0.33% against Bitcoin over the last 24hrs. Bitcoin SV came into existence following the Bitcoin Cash chain split on November the 15th 2018. The chain split was caused at two competing software implementation for the Bitcoin Cash blockchain (Bitcoin ABC and Bitcoin SV) broke away from consensus, and was subsequently supported by two different groups of miners. After the time of the fork, users could claim tokens on each side of the fork if they had previously held tokens on the old Bitcoin Cash chain. Bitcoin Cash ABC is now being recognised by most exchanges as Bitcoin Cash (the name of the original prefork currency) with a separate listing for Bitcoin Cash SV. We covered the fork extensively and you can track the birth of Bitcoin Cash SV from our coverage: Your guide to the tools you’ll need to monitor the Bitcoin Cash hard fork By Nawaz Sulemanji – March 14, 2019 BREAKING NEWS: Bitcoin Cash hard fork has officially happened By Nawaz Sulemanji – March 14, 2019 Why the Bitcoin Cash hard fork has been a resounding success By Oliver Knight – March 14, 2019 Bitcoin Cash fork drama isn’t over yet By Nawaz Sulemanji – March 14, 2019 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 SV price and analysis appeared first on Coin Rivet . || Cryptocurrency Bear Market Waning, Going Through Accumulation Phase, Says Report: The cryptocurrency bear market is winding down and is in its final stage, the accumulation phase, according to a report from digital assets fund Adamant Capital published on April 18. Per the report, the accumulation phase is expected to bring bitcoin ( BTC ) to trade in the corridor between $3,000 and $6,500 until the new bull market gains ground. The researchers suggest that bitcoin whales are currently accumulating the leading cryptocurrency which echoes the bear market from 2014 to 2015. The analysis reportedly showed that most retail traders have left the current market, while agnostic traders and long-term investors have become dominant. That reportedly fits BTC volatility lows analysis, wherein recent bitcoin 60 day volatility slumped below 5% —  a level not seen since late 2016. The report further explains: “During the accumulation phase, the market will trade in a range: the weak hands, who are trying to get out of the market, take profit during rallies and thus create the resistance, and the strong hands, looking to accumulate, buy at the bottom of the range which eventually creates a floor in the piece.” Millenials are also one of the key drivers of the cryptocurrency market growth, the report says, as 92% of this generation does not trust banks and the majority of bitcoin buyers are also millennials. The researchers forecast that bitcoin will see mass adoption in the coming five years, as well as become widely recognized as a portfolio hedging instrument and reserve asset. As previously reported , research by blockchain-focused company Clovr revealed that cryptocurrency investing is most popular among millennials earning from $75,000 to $99,999 annually. Millenials are reportedly almost twice as likely as any other generation to invest in digital currencies, with 43 percent of men and 23 percent of women investing in crypto. Another poll by crypto finance company Circle showed that 25 percent of millennials said they are interested in purchasing digital currencies over the next 12 months, which sets them apart from other generations by more than 10 percent. Related Articles: BitMEX Owner Partners With Trading Technologies to Expand Crypto Trading Base and Tools Crypto Markets Report Modest Gains, Gold Sees Slight Losses LedgerX Makes Bid to Launch Physically-Settled BTC Futures Product for Retail Investors Bot-Enabled Market Manipulation Rife on Decentralized Exchanges, Researchers Claim || Netherlands: Bitcoin Trader Attacked in His Home: A Bitcoin (BTC) trader has been attacked in his home in theNetherlandsby a group of robbers disguised as the police, local news outlet De Telegraafreportedon Feb. 23. A 38-year Tjeerd H. was reportedly the victim of a violent raid in his home in Drouwenerveen on Feb. 10, wherein a group of criminals wearing balaclavas and bulletproof vests with a police coat threatened him with firearms. While the motive of the raid is not clearly established, De Telegraaf conducted their own investigation revealing that H. had been tradingcryptocurrency. De Telegraaf notes in the report that sources from the police confirmed that version. Cryptocurrency thieves havebecomenot only an online threat, as Bitcoin owners have been attacked face-to-face by criminals and forced to deposit various amounts of digital currency into anonymous wallets. In January 2018, an in-person Bitcoin burglary happened on the holiday resort of Phuket, Thailand. ARussianbusinessman was reportedly held hostage until he logged onto his computer and transferred around $100,000 of BTC to his attackers. Also last year, the Criminal Investigation Department (CID) in Gujarat,Indiainvestigatedthe alleged kidnapping and extortion of 200 BTC from businessman Sailesh Bhatt by police. Bhatt alleged that on Feb. 9, 2018, Central Bureau of Investigation (CBI) officer Sunil Nair first had him beaten, with the help of other officers, in a room at the CBI until he paid a ransom of around $770,000, not specifying in what kind of currency. • UK Auction House to Sell Off $430K in Crypto Confiscated by Belgian Police • Tim Draper Predicts Crypto Will Rule, Only Criminals Will Use Cash in Five Years • Russian Supreme Court Classifies Illicit Crypto Use Under Money Laundering Laws • Samsung Announces Galaxy S10 Crypto Partners, Bitcoin and Ethereum Support || Paxful Introduces AI-Powered, Biometric Verification to Improve KYC and AML: The peer-to-peer bitcoin marketplace Paxful announced today, April 2, 2019, that it’s introducing AI-powered identity verification to help improve know-your-customer (KYC) and anti-money laundering (AML) procedures on the platform. Teaming up with Jumio, a digital identity and address verification company, Paxful is hoping that this added verification will help to minimize fraud risk. Speaking toBitcoin Magazine, Ray Youssef, co-founder and CEO of Paxful, said that the platform was already emphasizing account verification as a way to prevent fraud. “Prior to implementing Jumio, we had a zero-tolerance system for scammers, fraud and any other illicit financial crime,” Youssef explained. “We required all customers to verify their accounts through email and phone verification [and] we encouraged them to use two-factor authentication for added protection to their account.” But with the aid of Jumio, the platform will be capable of improving its KYC and AML procedures and compliance program in every operating country through a biometric facial recognition feature provided by Jumio. According to Youssef, this was the feature his team desired most to help combat fraud because it’s not only effective in protecting their users but was also the “least complicated for our customers to implement.” Through the AI-powered identity service and end-to-end verification process, Paxful will verify users’ identities with an ID scan, biometric authentication and liveness detection. This latter feature prevents someone from simply using a static image or prerecorded video to fake an identity. Users who reach an equivalent of $1,500 in trade volume or wallet activity on Paxful will be required to verify their accounts through ID verification. Users who reach $10,000 in trade volume or wallet activity will also be asked to verify their addresses. It was also important to Paxful that this advanced ID verification did not require the use of a smartphone. “They can just as easily use a web camera as well,” Youssef said. “Given that we have a large customer base in emerging markets, this was a key benefactor in going with Jumio. They make it easy for our customers, no matter where they are, to provide ID and address verification.” The introduction of AI-powered ID verification comes at a time when Paxful has seen a steady rise in the number of users trading bitcoin on the platform. In 2018, for instance, Paxful saw an increase in volume of around 125 percent, Youssef said, crediting the surge with an emergence of cryptocurrency trades in Africa. “Africa is our top market and has reached an average of 17,000 trades per day,” he explained. “Many Africans are used to KYC. For example, in Nigeria you must KYC with a fingerprint scan to get a SIM card for your phone. Africans have been preyed upon and exposed to great fraud risk so they welcome KYC if it will guarantee a safe and open system.” This article originally appeared onBitcoin Magazine. || Thai navy boards cabin of fugitive 'seasteaders' facing death penalty: By Panu Wongcha-um BANGKOK (Reuters) - The Thai navy on Saturday boarded the floating cabin of a fugitive U.S. citizen and his Thai girlfriend, both prominent members of the "seasteading" movement who possibly face the death sentence for setting up their offshore home. Thai authorities have revoked the visa of bitcoin trader Chad Elwartowski and charged him and his partner with violating Thai sovereignty by floating the cabin 14 nautical miles off the west coast of the Thai island of Phuket. The cabin had been promoted as the world's first seastead by the group Ocean Builders, part of a movement to build floating communities beyond the bounds of nations as a way to explore alternative societies and governments. "I was free for a moment. Probably the freest person in the world," Elwartowski posted on Facebook on April 13, days before the Thai navy raided his vessel. Elwartowski, 46, was not on board having apparently fled after a surveillance plane flew overhead the previous day, along with his partner Supranee Thepdet, whose Facebook page describes her as a "Bitcoin expert, Trader, Chef, seastead Pioneer". The U.S. Embassy in Bangkok said Elwartowski had engaged a lawyer and was being provided with appropriate assistance. The Royal Thai Navy had planned on Saturday to seize the structure and tow it back to shore for use as evidence. In a video posted last month detailing the construction of the floating home, Elwartowski said 20 more similar homes would be up for sale to form a community. Elwartowski and Ocean Builders say the vessel was in international waters and beyond Thailand's jurisdiction. But Thai authorities say the structure is in its 200-mile exclusive economic zone and therefore a violation of its sovereignty. A Thai navy task force on Saturday inspected the floating home as it prepared to tow the structure back to Phuket. LEGAL PROCESS "We will invite technical units and officials who have inspected the object to consult on the methods of towing to minimize damage," Captain Puchong Rodnikorn, chief of staff of the Operations Squadron of the Third Naval Area Command, said. "Once the sea house reaches the shore, the owner of this house can come to inspect it, as well as come forward to the Thai authorities in order to prove themselves in the legal process," he said. The navy said it had evidence that the floating home was built in a private boatyard in Phuket and the couple wanted to establish a "permanent settlement at sea beyond the sovereignty of nations by using a legal loophole". It said the action "reveals the intention of disobeying the laws of Thailand ... and could lead to a creation of a new state within Thailand's territorial waters," adding this would undermine Thailand's national security as well as the economic and social interests of maritime nations. In an email reply to Reuters, Elwartowski referred all questions to the Seasteading Institute and pointed to online statements from the Ocean Builders website. Elwartowski and Supranee are members of Ocean Builders, which has denied they were planning to set up an independent state or "micro nation". The group said the pair did not build, invest in or design the floating home themselves, but were "volunteers excited about the prospect of living free". According to Ocean Builders, the concept of seasteading has been discussed for years but the cabin Elwartowski and Supranee lived on was the first attempt at living in what it described as international waters. Other groups, such as the Seasteading Institute, which was originally backed by PayPal co-founder Peter Thiel, have sought to build floating cities with the cooperation of host nations. (Reporting by Juarawee Kittisilpa and Panu Wongcha-um Editing by Nick Macfie and David Holmes) || Delegated Byzantine Fault Tolerance (dBFT) explained: Besides the well-known Proof-of-Work (PoW) and Proof-of-Stake (PoS) consensus algorithms, there are other ways to power blockchains. Delegated Byzantine Fault Tolerance (dBFT) is an algorithm used to achieve consensus that confuses many blockchain and cryptocurrency adopters. It’s a complicated concept that not everyone understands like PoW or PoS. However, despite being so confusing, one of the largest cryptocurrency exchanges, Binance , decided to use this consensus mechanism for its chain. This is because Delegated Byzantine Fault Tolerance can counter unreliable or untrustworthy participants on the blockchain more effectively than other algorithms. What Delegated Byzantine Fault Tolerance is all about The Delegated Byzantine Fault Tolerance consensus was introduced by NEO , often called the “Ethereum of China”. This Chinese blockchain plans to achieve the “smart economy” by digitising assets and providing smart contracts on the blockchain. According to its creators , the voting system of dBFT allows large-scale participation, in a similar way to the Delegated Proof-of-Stake consensus . This means that the holder of a NEO token can support a specific ‘bookkeeper’ through a vote. The selected group of bookkeepers then use the Byzantine Fault Tolerance mechanism to reach a consensus and generate more blocks. One of the strongest points of using the dBFT mechanism consists of absolute finality. After final confirmation, a block can’t be bifurcated, so the transaction can’t be revoked or rolled back. This is a two-sided weapon, however. The finality is somehow guaranteed by the fact that NEO is not a wholly decentralised network. Despite NEO’s efforts to take this direction, there’s currently just seven nodes and a few delegates operating on the blockchain. The majority of these are connected to the NEO council. How the dBFT mechanism works At first glance, the dBFT consensus mechanism is similar to Delegated Proof-of-Stake. Using a voting process, NEO token holders have the right to vote for delegates. This is regardless of the amount of currency in their possession. Story continues Anyone can become a delegate, as long as he or she meets the requirements. This means a reliable internet connection, the right equipment, a validated identity, and 1,000 GAS. GAS is the reward users receive for their activity on the network. From the delegates, a speaker is chosen randomly. The speaker builds a new block from the transactions that waits to be validated. Then, the speaker sends the proposal to the elected delegates. They are expected to keep track of all the transactions and record them on the network. The delegates are free to share and compare the proposal they’ve received to test data accuracy, as well as the honesty of the speaker. The block is added to the blockchain if more than two-thirds of the delegates reach a consensus and validate it. Voting in the NEO network is a process that occurs in real time. How dBFT counters dishonesty As all delegates can verify the block proposal, it’s easy to understand whether the data sent by the speaker is valid or invalid. So, if the speaker is dishonest and sends invalid proposals to two-thirds of the delegates, the blocks won’t match, and node owners won’t validate it. The consensus is reached with two-thirds of the votes, and a new speaker is selected. If one of the nodes is corrupted, the other delegates can determine the validity of the proposal by comparing their own versions of the proposal. Consensus can still be reached as only two-thirds of the delegates are required to agree to validate the block and replace the dishonest delegate. Using the Delegated Byzantine Fault Tolerance algorithm, consensus can also be reached when both the speaker and a delegate are dishonest. When comparing blocks, delegates can see whether either the speaker or a delegate is corrupt, and they can agree to invalidate the block, which automatically leads to selecting a new speaker. In any of these three situations, the dishonest delegates need to control two-thirds of the network to corrupt data written on the blockchain. This is hard to achieve since all NEO token holders can vote, delegates aren’t anonymous, and becoming a node owner costs 1,000 GAS. dBFT pros: Generating a new block on the chain takes between 15 and 20 seconds. The transaction throughput is close to 1,000 TPS. NEO hopes to reach 100,000 TPS, which would allow the network to support large-scale commercial applications. No expenditure of energy needed (unlike the Proof-of-Work consensus algorithm). Total finality for transactions after their confirmation. There are no forks on the NEO blockchain. dBFT cons: As delegates need to operate under real identities to be elected, there’s no anonymity on the blockchain. The mechanism requires regulated blockchains, which includes a certain level of centralisation (exactly what blockchains like Bitcoin and Ethereum are trying to achieve). Final thoughts The strength of the Delegated Byzantine Fault Tolerance mechanism is its ability to reach consensus even when one or more delegates are corrupt. For a worldwide public blockchain, it could be the right tool to decrease tolerance to malicious users that could affect the network. However, the lack of anonymity and the need for centralisation may keep adopters away from a blockchain that doesn’t guarantee privacy. The post Delegated Byzantine Fault Tolerance (dBFT) explained appeared first on Coin Rivet . || Impressive Streaks Inside Mid-Cap Dividend ETF ‘REGL’: This article was originally published onETFTrends.com. Many investors large-cap stocks are the best ideas for dividends, particularly when it comes to consistent dividend growth. After all, there are large-cap dividend exchange traded funds (ETFs) that require companies to have minimum dividend increase streaks of 10, 20 or even 25 years. As proven by theProShares S&P MidCap 400 Dividend Aristocrats ETF (CBOE: REGL), mid-cap funds can play that game and play it well. REGL, which recently turned four years old, follows the S&P MidCap 400 Dividend Aristocrats Index. That is the dividend aristocrats offshoot of the widely followed S&P MidCap 400 Index. REGL’s components, which currently number 52, are required to have minimum dividend increase streaks of 15 years. Regardless of market cap spectrum, dividend increase streaks of 15 years are impressive, but many of REGL's holdings far exceed the ETF's minimum threshold for inclusion. Long Traditions A recent breakdownof REGL's holdingsby length of dividend increase streaks indicate seven of the fund's components have boosted payouts for 45 or more consecutive years. Two of those stocks are utilities names and another two hail from the consumer staples sector. Those sectors combine for more than 23% of REGL's weight. Nine of REGL's member firms have dividend increase streaks of 35 years to 44 years. A third of those names are industrial stocks. That sector is the ETF's second-largest sector weight at 19.51%. Fourteen of REGL's holdings have dividend increase streaks ranging from 25 years to 34 years. Five of those 14 stocks are financials services names. That sector is REGL's largest sector exposure at 26.68%. A minimum dividend increase streak of 25 years is important because that is the requirement for entry into REGL's large-cap cousin, theProShares S&P 500 Aristocrats ETF (CBOE: NOBL), indicating that if some of REGL's holdings eventually matriculate to large-cap status, those stocks could reside in NOBL's underlying index. Twenty-two of REGL's holdings have dividend increase streaks of 15 to 24 years, indicating that some of the fund's holdings are recent additions while others are fast approaching a quarter century of boosting dividends. REGL has a dividend yield of 1.86%, or 67 basis points above the yield on the S&P MidCap 400 Index. For more information on middle capitalization stocks, visit ourmid-cap category. Have you signed up for the ETF Trends Virtual Summit on Wednesday, April 17? It's complimentary for financial advisors (earn up to 5 CE Credits)!Register now to learn about alternative and thematic tools to better diversify client portfolios.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 • Using Merger Arbitrage as a Hedge Against Market Volatility • A Better Way to Determine Risk Exposure for Growth ETF Investors • Report Findings Highlight Fake Bitcoin Trading on Unregulated Exchanges • How to Manage A Mature Bull Market With Macro-Themed ETF Strategies • In the Know: Building a Low Cost, Defensive Portfolio READ MORE AT ETFTRENDS.COM > || Bitcoin’s recent surge has very little to do with algos and April Fools’ — here’s why: Bitcoin's eye-popping return to $5,000, its highest level in over five months, sent financial media and analysts into a tizzy Tuesday morning as they attempted to unearththecatalyst. The theory that picked up the most steam was tied to an April Fools' Day piece penned by Rachel McIntosh at Financial Magnates. The faux report, which went out almost an entire day before bitcoin's climb began, claimed the Securities and Exchange Commission approved the elusive crypto exchange-traded fund. "April Fools' joke may have been the trigger for the cryptocurrency rally," Bloomberg reported Tuesday morning. A closer examination of last night's green candles reveal that this upward spike in the price of the world's largest digital asset is no joke. First, let's start with the fundamentals. Last year was complicated for digital assets. The long-awaited institutional capital for the most part sat on the sidelines and much-hyped trading operations — from Goldman Sachs' bitcoin trading desk to Bakkt's futures platform — have yet to fully come to fruition. And the market for initial coin offerings essentially vanished. Still, momentum in the market has shifted as of late with a number of initial exchange offerings, token raises sponsored by crypto exchanges, taking the market by storm. Moments ago,VeriBlockwrapped up its IEO on U.S.-based Bittrex in 10 seconds,according to a tweet. Huobi and Binance have in recent weeks rolled out their own IEO platforms, selling tens of millions of dollars worth of new token issuances. Indeed, The Block research analyst, Matteo Leibowitz,commentedon the IEO phenomenon's ability to spark a shift in market sentiment early last month. The move took place overnight, gapping up in a market with thin liquidity where shorts were liquidated and various brokers were hedged on short gamma positions. BitMEX saw huge liquidations on levered shorts amounting to $500 million, and as with many rallies in the 2017 market, many altcoins lagged BTC as market participants tried to catch BTC's price momentum. Tether inflows saw a spike as it briefly traded at a slight premium ($1.03) to its $1 redemption value, a signal that traders were likely looking for a haven from last night's volatility. The short-term market rally was precipitated by large moves up in other high-beta assets such as LTC and BNB which made local and all-time highs in recent months. Looking at technicals, we saw bitcoin last night break its 200 daily moving average, a technical indicator that shows a particular asset is on a bullish trajectory. At the same time, the market observers saw a bullish signal pop up on other markets which could indicate cross-asset fund flows as traders rotate into risk assets. The so-calledGolden Crosswas triggered for the first time since 2016, as Reuters noted, fueling bullish price action in U.S. equities as well as emerging markets with the iShares MSCI Emerging Markets Index rallying 1.65%. Furthermore, trading volumes over the past month have been steadily picking up, providing a much-needed sigh of relief to cryptocurrency exchanges. Volumes have continued apace since last night even as bitcoin's price has stabilized, further indicating strength in this rally. At last check, turnover across crypto exchanges was up from $44 billion overnight to $63 billion, according to CoinMarketCap data. That's about five times higher than the beginning of the year. At the same time, bears have been losing steam — at least that's the perspective of two large over-the-counter trading desks. "Over the last few weeks, some degree of complacency and dealer positioning (short vol carry positions) had left the market vulnerable to an explosive upside move," Galaxy Digital, Mike Novogratz's crypto merchant bank, wrote in a note to clients. Notable investors like global macro trader Mark Dow, a now infamous Bitcoin skeptic who successfully shorted the market top in 2017, have come out noting yesterday thatthe chartwas "buyable." The rally has also seen the return of noted pseudonymous cryptocurrency traders like Parabolic Trav after a many-month hiatus, which many market participants view as a signal that we may have seen the worst of crypto winter. With contributions from Matteo Leibowitz and Arjun Balaji. || Top 5 Crypto Performers Overview: Stellar, Bitcoin Cash, Cardano, Dash, Monero: 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 the HitBTC exchange. The crypto markets are showing the first signs of bottoming out. Most cryptocurrencies are well above their yearly lows and are starting new uptrends. Every bull phase has a new set of leaders. Therefore, it is important to note the digital currencies that are pulling the market higher, as these are the ones that are likely to outperform during the move upwards. Bitcoin’s ( BTC ) dominance continues to drop gradually since reaching a high of about 57.80 percent in mid-September. This shows that the market participants are loading up on altcoins . However, a new bull phase cannot start without support from the leading cryptocurrency. The good news regarding Bitcoin is that it has stopped falling and is gradually moving higher . Its volume topped $11 billion over the 24-hour period on March 15, a level not seen since April 25 of last year. This shows that market participants are gradually turning bullish on the leading cryptocurrency. As the crypto universe emerges from its prolonged bear phase, there will be periods when Bitcoin will lead and other times when altcoins will lead. So, traders should change their strategy accordingly. XLM/USD Stellar ( XLM ) is the best performing major cryptocurrency of the past week. It rallied on the back of favorable news, as Coinbase Pro announced support for Stellar on March 13. This move will likely eventually lead to full support on Coinbase’s other platforms. The appointment of Denelle Dixon, former chief operating officer at Mozilla, as the CEO and executive director of Stellar Development Foundation also served as bullish news. Additionally, IBM’s push to create a stablecoin targeting blockchain-powered cross-border payment solutions for banks involves a partnership with the altcoin in the form of Blockchain World Wire . The question is, can this adoption and development-based rally continue or will it hit a roadblock ahead? Let’s take a look at the charts. Story continues XLM The XLM/USD pair is in a downtrend. Both the moving averages are still down and the RSI is in the negative zone. Currently, it is attempting to pullback from the lows, which will face resistance at $0.14861760 and above it at the downtrend line. We are yet to see a higher high and a higher low being formed, which will indicate that the downtrend is over. Therefore, for long-term investors, we don’t see any reliable buy setups yet. If the pair turns down from the 20-week EMA, it will again attempt a breakdown to new lows. BCH/USD Bitcoin Cash ( BCH ) was the second-best performer for the week, rising about 15 percent. Though there was apparently no specific news driving prices higher, the digital currency has a history of vertical rallies and waterfall declines. Let’s see where it goes from here. BCH After many small range weeks, the BCH/USD pair is looking to move up. The current move is likely to carry it to the 20-week EMA, which is just below the horizontal resistance of $239. If the bulls succeed in breaking out of $239, we anticipate the pair to pick up momentum and rally to $400. The digital currency has a history of sharp rallies; hence, the target might surprise to the upside. Contrary to our assumption, if the cryptocurrency turns down from $239, it might extend its stay in the range for a few more weeks. It will turn negative if the bears sink the price below $105. ADA/USD Cardano ( ADA ) announced this week that it will be one of the founding members of the  European Commission’s International Association for Trusted Blockchain Applications. The association is an effort to identify the improvements blockchain technology can bring to various industries and formulate a common approach for the European Union. ADA The ADA/USD pair has been range bound between $0.036815 and $0.051468. We like it when a digital currency forms a large basing pattern after a prolonged downtrend. Previous attempts to breakout or breakdown of the range did not find any takers. Currently, the bulls are trying to breakout of the range once again. The 20-week EMA is just above this level, which might also act as a roadblock. If the digital currency scales above the 20-week EMA, we anticipate a quick rally to $0.082952 and above it to $0.094256. Therefore, traders can buy on a weekly close (UTC time frame) above $0.051468 and keep a stop loss of $0.0350. Opposite to our expectations, if the digital currency turns down from the current levels, it will extend it stay in the range for a few more weeks. A breakdown of the range will be a negative sign that can result in a retest of the lows, below which the downtrend will resume. DASH/USD Dash ( DASH ) has been making huge inroads in Venezuela as the citizens look at various available avenues to deal with the unstable Bolivar and foreign sanctions, which threaten to derail SWIFT, Visa and MasterCard services. Dash Text has come up with a charity system that is devoid of any human third-party intervention . The donations are directly distributed among the pool of recipients. In other news, Equicex Group, the provider of privacy-focused debit cards, has decided to integrate Dash, which increases the options available for Dash users. DASH The DASH/USD pair continues to trade between $56.214 and $103.261. The bulls are attempting to push prices above the resistance of the range. The 20-week EMA is placed just below $103.261 levels. We expect the bears to defend this resistance. If the price turns down, then the consolidation will stretch out for a few more weeks. The trend will turn negative if the bears sink the digital currency below the range. Conversely, if the bulls succeed in breaking out of the overhead resistance, it can move towards the next levels of $175 and $224. Aggressive traders can buy a breakout and weekly close (UTC time frame) above $103.261. The initial stop loss can be kept at $56 that can be quickly raised if the price moves northwards or fails to build upon gains following the breakout. XMR/USD In Monero ( XMR ) news, the altcoin completed a hard fork on March 09 that will help improve its privacy, security and ASIC resistance. Following the update, the hash rate of the Monero network plunged by about 90 percent from 1.14Gh/s to 162.14Mh/s. Additionally, two new Monero trading pairs were added by top global exchange Binance. Given these developments, the cryptocurrency came out this week as the fifth best performer. Can it improve upon its performance? XMR The bulls are attempting to carry the XMR/USD pair above the resistance of the range at $60.1470 and the 20-week EMA at $62.50. If successful, a quick rally to $81, followed by a move to $114.840 is probable. The long-term target is $150. Traders can buy on a close above $62.5 and keep a stop loss of $38, which is just below the bottom of the range. As the price moves higher, we would suggest trailing the stops higher to reduce risk. On the other hand, if the price turns down from the overhead resistance, the virtual currency will remain range bound for a few more weeks. The trend will turn negative on a breakdown of the current range. Market data is provided by the HitBTC exchange. Charts for analysis are provided by TradingView . Related Articles: Bitcoin, Ethereum, Ripple, Litecoin, EOS, Bitcoin Cash, Binance Coin, Stellar, TRON, Cardano: Price Analysis, March 13 Bitcoin, Ethereum, Ripple, Litecoin, EOS, Bitcoin Cash, Binance Coin, Stellar, Tron, Cardano: Price Analysis, March 18 Bitcoin Cash Grows as Major Oil Futures Show Mixed Movements Bitcoin, Ethereum, Ripple, Litecoin, EOS, Bitcoin Cash, Binance Coin, Stellar, Tron, Cardano: Price Analysis, March 15 || Reddit Users Claim That QuadrigaCX Bitcoin Withdrawals Came From Other Exchanges: Reddit users analyzed pastBitcoin(BTC) withdrawals from the now-defunctQuadrigaCXcryptocurrency exchange in apostpublished on April 10, finding that some came from other exchanges. The Reddit users claim that of the withdrawal transactions that they analyzed, one came from a HitBTC hotwalletand the other one from a Bittrex hotwallet. The users write that before they realized that the addresses are owned by exchanges, they found that some of the addresses appear on multiple High Yield Investment Programs (HYIP), amatorial ransomware research and a post concerning lost funds by another Reddit user. Further examination suggests that this means that people sent funds from exchanges to HYIP Ponzi schemes, and that hackers attempted to cash in money earned with ransomware through those exchanges. Quadrigahas previously filedfor creditor protection following the death of its founder in December 2018, resulting in a loss of access to its cold wallets. However, a report by the Wall Street Journal in Februaryclaimedthat the funds could actually be missing, rather than inaccessible. The Reddit users’ recent findings are seemingly in line with another report, released in March, that QuadrigaCX probablystoreda significant quantity of Ethereum (ETH) in other crypto exchanges rather than cold wallets. In this analysis, the author mentioned that nearly 650,000 ETH belonging to QuadrigaCX were most likely stored on the Kraken,BitfinexandPoloniexcrypto exchanges, but did not mention Bittrex or HitBTC. As Cointelegraphreportedearlier this week, the exchange has also now been officially declared bankrupt. • Bithumb Announces External Audit Results in Wake of $13 Million Hack • Bithumb Losses Totalled $180 Million in 2018 Bear Market, Company Reports • Hong Kong Cryptocurrency Exchange Bitfinex Removes $10k Minimum Equity Requirement • Institutional Bitcoin Trading Volumes See Fourth Month of Growth, Diar Reports [Random Sample of Social Media Buzz (last 60 days)] #BTCUSD Market #1H timeframe on April 15 at 07:00 (UTC) is #Bullish. #cryptocurrency #bitcoin #btc #crypto #trading #idea #report technical analysis || Top 5 Cryptocurrencies Prices $BTC: $3,863.71 | Bitcoin 0.00% $ETH: $135.00 | Ethereum -0.09% $XRP: $0.314857298 | XRP +0.13% $EOS: $3.53 | EOS -0.20% $LTC: $48.87 | Litecoin -0.46% || #Bitcoin $5,309.91 v #BitcoinCash $378.60 (BTC/BCH 14.0), Avg Transaction fee for #Bitcoin ~$0.68 v #BitcoinCash ~$0.00 - 2019/04/22 19:00JST || (+) Bitcoin VPN: Opera Browser Is Quietly Assaulting A Key Crypto-Accepting Industry https://www.ccn.com/bitcoin-vpn-opera-browser-is-quietly-assaulting-a-key-crypto-accepting-industry … || 01Mar2019 18:00 UTC #Bitcoin #Blockchain status - Last 24h: 166 blocks mined - 1,469,476 BTC output - 361,051 transactions || Pump Alert! - GXS/BTC on Binance! Price increase: 10.00% | Volume: +28.96% - $GXS $BTC #binance #crypto #bitcoin #cryptoalerts #cointrendz More on http://t.me/cointrendz  pic.twitter.com/PlzZjP98H7 || ₿ #BTCUSD #Bitcoin = 4.016,06 #Dolar Güncelleme Saati : 18:00 || Happy Hour 15:00 - 16:00 UTC  has been activated for 60 Minutes! Go an Claim 20.000 #Bitcoin #Satoshi every 60 Seconds for the next 2 Hours! Tell your Friends & benefit from our amazing 50% Referral Commission forever! Enjoy http://bitco.world  || 03/05 16:00現在 #Bitcoin : 415,015円↓ #NEM #XEM : 4.4502円↑ #Monacoin : 134円→ #Ethereum : 14,155円↑ #Zaif : 0.1485円↑ || Mar 01, 2019 16:02:00 UTC | 3,850.50$ | 3,378.10€ | 2,901.00£ | #Bitcoin #btc pic.twitter.com/40tN2Zo5g2
Trend: down || Prices: 5572.36, 5464.87, 5210.52, 5279.35, 5268.29, 5285.14, 5247.35, 5350.73, 5402.70, 5505.28
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 2022-11-08] BTC Price: 18541.27, BTC RSI: 35.91 Gold Price: 1712.10, Gold RSI: 62.52 Oil Price: 88.91, Oil RSI: 52.35 [Random Sample of News (last 60 days)] First Mover Americas: Technical Signs Flashing Green for Bitcoin and Ether, Quant Network's Token Surges 14%: This article originally appeared inFirst Mover, CoinDesk’s daily newsletter putting the latest moves in crypto markets in context.Subscribe to get it in your inbox every day. Bitcoin (BTC) was up slightly on the day after trading between $19,300 and $19,900 over the weekend. Ether (ETH) gained slightly more ground on Monday, trading up 3% at $1,322.The CoinDesk Market Indexrose 0.8% over the past 24 hours. In traditional markets, the British pound and U.K. bonds rallied as more of the Prime Minister Liz Truss’ unfunded tax cuts were reversed. U.S. stock futures jumped as investors awaited Bank of America’s earnings report, after four other major U.S. banksreportedon Friday. In the crypto market, the biggest gainer with a market capitalization of more than $1 billion was againQuant Network, whose token jumped 14% over the last 24 hours. There was a sense of apathy among investors with minor inflows in digital-asset investment products last week of $12 million, according to data fromCoinShares. Bitcoin, the world’s largest cryptocurrency by market value, saw inflows of $8.8 million, marking the fifth consecutive week of inflows. Short-bitcoin investment products saw inflows of $6.7 million. “This could be interpreted as marginally supportive were it for the resumption of inflows into short-bitcoin investment products of $6.7 million, implying a net neutral sentiment amongst investors,” the report stated. Ethereum saw a second week of minor outflows at $3.9 million. [{"Asset": "Polymath", "Ticker": "POLY", "Returns": "+27.31%", "DACS Sector": "DeFi"}, {"Asset": "Injective", "Ticker": "INJ", "Returns": "+9.89%", "DACS Sector": "DeFi"}, {"Asset": "Quant", "Ticker": "QNT", "Returns": "+8.16%", "DACS Sector": "Currency"}] [{"Asset": "Rally", "Ticker": "RLY", "Returns": "-6.01%", "DACS Sector": "Culture & Entertainment"}, {"Asset": "JasmyCoin", "Ticker": "JASMY", "Returns": "-3.56%", "DACS Sector": "Computing"}, {"Asset": "Radicle", "Ticker": "RAD", "Returns": "-3.15%", "DACS Sector": "Computing"}] 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 Market Index (CMI)is a broad-based index designed to measure the market capitalization weighted performance of the digital asset market subject to minimum trading and exchange eligibility requirements. Green Shoots Appear in ETH/BTC Chart By Omkar Godbole • Technical signs are pointing upward for both bitcoin and ether. || VanEck Taps Green Infrastructure With New ETF: VanEck Associates Corp. announced the launch of a new green infrastructure exchange-traded fund Thursday, marking the New York-based investment manager’s latest venture into sustainable investing. The VanEck Green Infrastructure ETF (RNEW) aims to invest at least 80% of its assets in companies that seek to positively impact the environment and support the creation of infrastructure that uses green energy. RNEW will track the Indxx US Green Infrastructure-MCAP Weighted Index, which provides exposure to U.S.-based companies that generate at least 50% of their revenue from sustainable infrastructure activities or that are involved in the production or distribution of green energy. The ETF lists on the Nasdaq and has an expense ratio of 0.45%, which is comparable to fees charged by competing funds such as the JPMorgan Sustainable Infrastructure ETF (BLLD) and the First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (GRID) with expense ratios of 0.49% and 0.63%, respectively. “There are quite a few competitors around focused on traditional infrastructure, mainly focused on sectors like industrials, utilities, materials, etc. However, there is a lack of funds focused on a more sustainable set of subindustries,” VanEck Associate Product Manager Nick Frasse wrote in an email. Frasse said RNEW will provide a diversification opportunity to investors who have allocated money into the traditional “bridges and roads” style infrastructure, as well as those who are looking to dip into the sustainable investing space. The demand for sustainable and environmentally friendly investing is soaring, with investors seeking products to boost portfolio values and diversify assets. A recent study conducted by PwC found that growth in sustainable investing—especially with environmental, social and governance-oriented funds—is expected to outpace the asset and wealth management market as a whole. The report also suggested sustainable products to be lucrative investments, with 60% of surveyed investors reporting that ESG has already resulted in higher yields in their investment performance, compared with non-ESG equivalents. Story continues “When assessing a competitive landscape, it’s one of our top priorities that [this] potential product focus on areas of the market we believe to be long-term trends,” Frasse added. Contact Zoya Mirza at [email protected] Recommended Stories The DIY FAANG 2.0 Portfolio Weekly ETF Flows Post $42B Gain Tech ETFs Sink on Microsoft, Google Earnings Hot Reads: First US Bitcoin ETF Down 70% Permalink | © Copyright 2022 ETF.com. All rights reserved || Canadian Prime Minister Justin Trudeau Attacks Opposition for Recommending Bitcoin as Inflation Hedge: Canadian Prime Minister Justin Trudeau, on Monday criticized the opposition party for asking people to invest in bitcoin to beat inflation. "Telling people they can opt out of inflation by investing in cryptocurrencies is not responsible leadership," Trudeau tweeted , calling the opposition's economic ideas reckless and questionable. Trudeau's criticism comes after the Conservative Party, Canada's main opposition to Trudeau's Liberal Party, elected pro-bitcoin veteran lawmaker Pierre Poilievre as its new leader. Telling people they can opt out of inflation by investing in cryptocurrencies is not responsible leadership. Fighting against life-saving vaccines is not responsible leadership. Opposing the pandemic supports that saved jobs and helped families is not responsible leadership. — Justin Trudeau (@JustinTrudeau) September 13, 2022 Early this year, Poilievre attacked Trudeau for injecting $400 billion into the economy, which he said fueled inflation. Poilievre supported the use of supposed fiat alternatives such as bitcoin. Bitcoin devotees have long said that the cryptocurrency's scarcity would help investors preserve the value of their money during times of high inflation. Bitcoin's market valuation, however, has halved to $427 billion this year despite rampant inflation. || Market Wrap: Bitcoin Trades Flat for a Second Consecutive Day, but Outpaces Traditional Markets: Price Action Bitcoin traded slightly higher on Thursday and most cryptocurrencies spent much of the day in positive territory. The CoinDesk Market Index (CMI) , a broad-based market index that measures the performance of a basket of cryptocurrencies, rose by 0.32%. The top gaining crypto assets on the day were sushi (SUSHI), up 15% and vulcan forged PYR (PYR) up 12.15%. The laggards were numeraire (NMR) and celsius (CEL), down 12.3% and 7.8%, respectively. Bitcoin ( BTC ) was still trading above $20,000, roughly flat from 24 hours earlier, as the largest cryptocurrency by market capitalization continues to trade in a tight range. BTC tested highs of $20,440, before retreating to current levels. Bitcoin dominance, a measure of the BTC’s market cap relative to the market cap for all cryptocurrencies, has increased to 41% since hitting a 2022 bottom of 39% on Sept 10. The uptick in BTC dominance highlights a shift in overall investment in cryptocurrencies, to bitcoin. Ether’s ( ETH ) price rose by 1% on Thursday, on moderate volume when compared to its 20 day moving average for volume. ETH touched a low of $1,349, before advancing to its current level. ETH’s price currently sits between its 10- and 20-day moving average and has moved within 6% of its 50-day moving average. Economic Reports: Initial U.S. jobless claims of about 219,000 for September were nearly 8% heavier than the consensus expectation of 203,000. Continuing claims also rose. The 1.36 million in continuing jobless claims was more than five times higher than the consensus estimate of 203,000. Thursday’s initial jobless claims data serves as a precursor to Friday’s important Non-Farm Payrolls and unemployment data release. The current consensus is the U.S. unemployment rate has held steady at 3.7%. Friday’s jobs data is part and parcel to the macroeconomic narrative that has driven both traditional and digital asset prices. Markets still appear to be in a “bad news = good news” environment. Increased job losses typically signal that the economy is slowing and that inflation will likely decline. Story continues A better-than-expected jobs report could lead to expectations that economic growth needs to be slowed, thus putting downward pressure on bitcoin prices. U.S. Equities: Traditional stocks declined across the board as the Dow Jones Industrial Average (DJIA), tech-heavy Nasdaq composite and S&P 500 fell 1.2%, 0.7% and 1.02%, respectively. Bitcoin’s correlation coefficient relative to traditional indexes has weakened from 0.90 to 0.27, a close to 70% decline. The correlation coefficient measures the price relationship between assets, with 1 representing a direct relationship, and -1 implying an inverse relationship. Ranges between -0.30 to 0.30, are considered neutral, and indicate a weak if not nonexistent relationship. Latest Prices Bitcoin ( BTC ) $20,053 0.3 Ethereum ( ETH ) $1,361 0.8 CoinDesk Market Index ( CMI ) 980.32 0.2 S&P 500 daily close 3,744.52 1.0 Gold $1,722 per troy ounce 0.6 Treasury Yield 10 Years 3.83 daily close 0.07 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. Technical Take Bitcoin still trading flat, but glimmers of hope appear By most technical indicators, BTC should continue its pattern of trading in a tight range. While BTC’s flat price movement is likely frustrating in the aggregate, it has been outpacing traditional finance indexes over the past month. Where the DJIA, S&P 500 and Nasdaq have fallen approximately 5% since Sept. 1, BTC has declined 0.32% On a technical basis, Bitcoin’s 10-day exponential moving average is about to cross its 20-day, which signals a pinch of short-term strength. BTC’s current price has also surpassed its 50-day moving average of $20,313. Overall volume has fallen below average in all but one of the last seven trading days. Trading volume often indicates conviction behind an asset’s move in price. Currently, BTC is neither moving much in price or trading in significant volumes, so it is providing scant opportunity for significant gains at the moment. BTC’s price is also nearing the top of its Bollinger Bands, which historically serve as a signal that the price will revert to its average. A difference between today’s breach and prior breaches is the lack of volume that accompanies it. Where in past breaches prices have reverted on higher-than-average volume, trading activity has declined in this instance. While not a clarion call for higher prices, this trend supports a narrative that selling pressure is beginning to wane. Potential bullishness is present In derivatives markets as well, as the call/put ratio for BTC options sits at 1.85. A purchased call represents the option but not the obligation to purchase an asset at a predetermined “strike price.” A purchased put represents the option (but not the obligation), to sell an asset. When the call/put ratio for an asset exceeds 1.0, it can indicate increased bullish sentiment. A look at where strike prices are located shows that at $20,000, BTC’s price has entered an area of significant call buying activity. Moreover, the extent to which puts have been purchased has fallen significantly at the identical price point. (Glassnode) Altcoin Roundup Celsius’ Top 3 Execs Cashed Out $17M in Crypto Before Bankruptcy: Ex-CEO Alex Mashinsky, ex-CSO Daniel Leon and CTO Nuke Goldstein pulled bitcoin ( BTC ), ether ( ETH ), USDC ( USDC ) and CEL ( CEL ) holdings from their custody accounts in May, before the company suspended all customer withdrawals, new court records show. Read more here. Stablecoin Issuer MakerDAO to Invest $500M in US Treasurys, Corporate Bonds: The community governing MakerDAO’s stablecoin DAI is decentralized, but also overcollateralized, backed by ether ( ETH ) deposited into its smart contracts. The move is a way for Maker to diversify its balance sheet and make the backing of its stablecoin more stable. Read more here. Trending posts Listen 🎧: Today’s "CoinDesk Markets Daily" podcast discusses the latest market movements and a look at how a stablecoin-fueled model of money could allow innovation to flourish. Crypto Bank Silvergate Capital's Shares Fall After Wells Fargo's Bearish Call: The bank's analysts say Silvergate's growth potential is limited during crypto winter. Grayscale’s New Venture Aims to Capture Bear Market Opportunities in Bitcoin Mining: Digital asset mining and staking infrastructure firm Foundry will manage the day-to-day operations of Grayscale’s new co-investment vehicle. Citigroup Director of Blockchain and Digital Assets to Leave for Six Digital Exchange: Alexandre Kech's departure follows the exit of another key digital-assets employee from Citi in August. Crypto Exchange Crypto.com’s Downsizing Larger Than Previously Reported, Ad Age Reports: In addition to job cuts of as much as 40% of staff, the company has also been pulling back from marketing deals, according to the story. CoinDesk Market Index Biggest Gainers Asset Ticker Returns DACS Sector Ribbon Finance RBN +6.46% DeFi Ravencoin RVN +4.4% Currency Tribe TRIBE +2.68% DeFi Biggest Losers Asset Ticker Returns DACS Sector Celsius CEL -21.89% Currency MetisDAO METIS -7.86% Smart Contract Platform Numeraire NMR -7.0% DeFi 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 Market Index (CMI) is a broad-based index designed to measure the market capitalization weighted performance of the digital asset market subject to minimum trading and exchange eligibility requirements. || Asset management firm Stone Ridge launches Bitcoin-focused accelerator program: Asset management firmStone Ridgehas launched a startup accelerator, In Wolf’s Clothing (Wolf), that will be dedicated to growing Bitcoin-focused applications, the team exclusively told TechCrunch. The program will bring four cohorts per year, each consisting of about eight to 12 teams, or about 30 to 50 founders, to New York City from around the world for eight weeks at a time to focus on building on the Bitcoin-centric Lightning Network andTaroprotocol, Kelly Brewster, CEO of Wolf, said to TechCrunch. The Lightning Network is a layer-2 payment system built on top of Bitcoin that aims to enable faster payment transactions. Separately, Taro is a protocol thatlaunchedin April of this year to help issue digital assets on Bitcoin’s blockchain that can then be transferred to Lightning Network instantly in low-fee transactions. “They’re both generic and usable enough in such a wide range of applications that it’s like saying you're starting an accelerator focused on HTTP,” Brewster said. “It’s a specific technology but the business use cases can be incredibly broad ranging. The fact that we’re very focused is a big part of the leg up and can be a big draw for founders.” Teams in the accelerator will range from small startup teams to early-stage companies. They will receive individual investments of $250,000, while one winner of the cohort will get an additional $500,000 for a total of $750,000, Brewster said. Some themes Brewster is interested in seeing startups expand upon include micropayments and tipping through Lightning and Taro. NYDIG, a subsidiary of Stone Ridge, is also supporting the accelerator, alongside mentorship and investments from Bitcoin-focused venture capital firms and operating companies. The names of companies providing outside capital will not be released, Brewster said. However, he added that all investors and mentors are already working with Bitcoin and Lightning. “That ranges from specialized VCs dedicated to Lightning up through public companies in fintech and banking.” Prior to this role, Brewster was NYDIG’s chief marketing officer, and he has worked for Stone Ridge for about six years. Before that, Brewster spent almost 10 years at Goldman Sachs “in a variety of roles,” he said. “Over the past six years, I've had the opportunity to help start a number of businesses and I’ve fallen in love with the process of taking an idea and turning it into a real thing.” Lightning Network is a layer-2 payment protocol built on top of Bitcoin that aims to provide instant payments and scalability at a low cost for the blockchain. It allows users to send or receive Bitcoin quickly by making transactions off the main blockchain network or, as Coinbasesaid,“like an HOV lane on a highway.” “At Stone Ridge, we’ve been watching Lightning for quite a while now,” Brewster said. “The network has hit critical mass over the last 12 months and there’s enough capacity now you can do real-world things pretty robustly on the network.” In the past, the network has been implemented by Twitter for users to send and receive Bitcoin “tips” through Lightning Network-focused payments app Strike. It has also been implemented in the El Salvador government-created wallet, Chivo, so citizens can complete cross-border transactions. “The growth in Lightning over the past year has been extraordinary,” Brewster said. “In some ways, it’s the perfect moment to step back and see where there is signal or just noise. Some of the clearest signals are coming from Lightning. The growth and network capacity has been hockey-sticking.” The news comes at an interesting time for NYDIG, which recently laid off about 33% of its staff, according to a Wall Street Journalreportlast week. In December 2021, NYDIGraised $1 billion, which valued the company at over $7 billion it said. Brewster declined to comment on the layoffs, but said, “The launch of Wolf should be a clear signal of Stone Ridge’s long-term belief and investment in Bitcoin. It’s obviously a difficult environment out there, but this is the time to make investments looking a couple years out.” There are a number of crypto accelerator programs budding across the ecosystem. Some range from layer-2 blockchain-specific accelerators likePolygon’sto general web3-focused programs likeAlliance DAO. While some offer capital like Wolf plans to, others invite investors to demo days in hopes that they invest in the startups’ projects. “In times like this, the companies that get built will capture these secular trends and really take hold as they accelerate,” Brewster said. “So we think this is the perfect moment to build rather than try to do something ourselves at Stone Ridge — we want to help and empower hundreds of other founders.” || 7 Dividend Stocks That Are Too Cheap to Ignore: With the massive paradigm shifts that erupted this year, more investors look toward cheap dividend stocks to buy. As inflationary forces diminished thedollar’s purchasing powerin the first half of this year, many sought to arrest this trajectory through passive income. And while the Federal Reserve intends to effectively introduce deflationary forces byraising the benchmark interest rate, the underlying chaos still makes dividend payers look good. Another reason to consider cheap dividend stocks is that they offer stability at a discount. While it’s unfair to make blanket statements, companies pay dividends from their profits. Naturally, this circumstance implies earnings generation, meaning they’re not purely growth driven. Therefore, businesses with solid track records should be able to weather storms better than non-passive-income providers. Finally, many may question the word “cheap” in cheap dividend stocks. For that, I will rely on valuation metrics and implied value against forward-looking industry or business-specific fundamentals. InvestorPlace - Stock Market News, Stock Advice & Trading Tips It’s not an exact science, but I’m going to throw some quantifiable reasoning here. And with that, here are seven cheap dividend stocks to consider. [{"JNJ": "SAP", "Johnson & Johnson": "SAP", "$165.11": "$87.18"}, {"JNJ": "TXN", "Johnson & Johnson": "Texas Instruments", "$165.11": "$167.80"}, {"JNJ": "FAST", "Johnson & Johnson": "Fastenal", "$165.11": "$48.13"}, {"JNJ": "RHI", "Johnson & Johnson": "Robert Half", "$165.11": "$79.66"}, {"JNJ": "TROW", "Johnson & Johnson": "T. Rowe Price", "$165.11": "$111.54"}, {"JNJ": "UPS", "Johnson & Johnson": "United Parcel Service", "$165.11": "$167.93"}] Source: Shutterstock Johnson & Johnson(NYSE:JNJ) is a global household name representing a pharmaceutical giant featuring several over-the-counter products. Undergirding an investment profile that caters to everyday necessities, JNJ is a smart buy, no matter the circumstances. However, with the present chaos in the market, it makes for one of the best cheap dividend stocks to buy. For one thing, you can look at the company’s year-to-date performance in the equity price charts. JNJ is down about 3.7%, which arguably belies its all-around pertinence. More importantly, the underlying firm provides a decentforward yield of 2.74%. Perhaps not the most remarkable figure, it does exceed the median yield of 1.58% for the healthcare segment. According to Gurufocus.com, JNJ isfairly valued. Fair enough. However, Johnson & Johnson features financial strengths across the board. The company enjoys balance sheet stability, solid growth metrics, and excellent profitability indicators. Since stability commands a fundamental premium during these tumultuous times, JNJ ranks among the cheap dividend stocks to buy. Source: Tada Images / Shutterstock.com A German multinational software company,SAP(NYSE:SAP), represents a stalwart of stability in the global business ecosystem. It plays a critical role in the efficient flow of supply chains. Ironically, the coronavirus pandemic disrupted such business networks, leading to sharp corporate losses. In turn, the red ink filtered down SAP’s ability to generate income. Investors can see the damage for themselves. Since the start of the year, SAP stock has slipped nearly 38%. Still, for the contrarian, the crimson ink may represent an opportunity. As well, per the subject of this article on cheap dividend stocks to buy, SAP offers passive income. Specifically, it provides aforward yield of 2.38%. In contrast, the technology sector’s average yield sits at 1.37%. Gurufocus.com labels SAP stock asmodestly undervalued. As with JNJ, SAP enjoys solid financials across the board, including solid growth metrics and a stable balance sheet. Perhaps most notably, SAP features a forward price-earnings ratio of 14.3x. The software industry’s median forward PE stands at 22x. Source: Katherine Welles / Shutterstock.com A technology firm,Texas Instruments(NASDAQ:TXN), specializes in designing and manufacturing semiconductors. As well the company focuses on the development of integrated circuits. Of course, because of the severe disruption of the Covid-19 pandemic, few eagerly touch semiconductor investments like TXN stock. That might be a mistake in the long run. To be fair, TXN initially presents an uninviting profile, shedding over 13% YTD. Over the trailing year, it’s down a bit more at a loss of nearly 15%. Still, these represent far superior numbers than the underlying benchmark tech index. In addition, TXN separates itself from other tech plays by offering passive income. It features aforward yield of 3%, above the average industry yield of 1.4%. Notably, Gurufocus.com labels TXN asmodestly undervalued. Per the resource’s proprietary valuation metrics, it views Texas Instruments as an excellent all-around investment. Most significantly, the company enjoys a net margin of nearly 44%, above approximately 98% of other tech firms. Therefore, TXN ranks easily among the best cheap dividend stocks to buy. Source: IgorGolovniov / Shutterstock.com Focused on industrial supplies,Fastenal(NASDAQ:FAST) represents the largest fastener distributor in North America, per its website. Still, this impressive status also points to significant risks. Should the Fed’s hawkish monetary policy inadvertently slip the U.S. economy into recession, Fastenal brings an uncertain outlook. I’m not saying this to be negative on FAST stock. It’s just a risk factor to acknowledge. Another danger to FAST stems from broader market volatility. Since the start of the year through the Oct. 4 session, Fastenal dropped 22% in equity value. However, contrarians might consider this an opportunity for an eventual economic comeback. To be fair, FAST doesn’t represent one of the most generous cheap dividend stocks. Still, itsforward yield of 2.58%beats the industry average of 2.36%. Moving onto Gurufocus.com, it labels Fastenal’s business asmodestly undervalued. Per the investment resource, the company commands excellent growth and profitability metrics. As well, its books are stable. For instance, Fastenal’s equity-to-asset ratio stands at 0.69, beating nearly 85% of sector peers. Source: Casimiro PT / Shutterstock.com An employment services agency,Robert Half(NYSE:RHI), connects professional talent with hiring enterprises. It then acts as a middleman entity, collecting fees for its services. While many may criticize Robert Half for “fleecing the flock,” the reality is that not all companies have the resources to hire qualified talent. Therefore, they outsource the (often cumbersome) process to firms like Robert Half. Still, with Covid-19 imposing strange dynamics in the employer-employee relationship, RHI stock suffered from relevancy loss. Therefore, RHI slipped 27% YTD. Anecdotally, I’m almost sure that these strange dynamics will correct themselves. At the end of the day, employers sign the checks. Employees must either put up or shut up. This statement is harsh, but it’s also a reality. Let’s look to Gurufocus.com for some numbers. RHI rates asmodestly undervalued. Arguably, the company’s highlight financial metric is its return-on-equity of nearly 50%, blasting the industry median of 8.6%. RHI also features a forward yield of 2.16%, which isn’t great. However, the combo of likely surging relevance (from desperate workers amid a possible recession) bolsters the case for RHI as one of the cheap dividend stocks to buy. Source: Pavel Kapysh / Shutterstock.com An investment management firm,T. Rowe Price(NASDAQ:TROW), may immediately appear to be one of the cheap dividend stocks. However, critics may argue that it’s for the wrong reasons. As an investment management firm, T. Rowe performed well through 2021. The reason? Inflation, baby! With the greenback’s purchasing power guaranteed (under the dovish monetary ecosystem) to decline, investors have an active incentive to invest. Otherwise, the dollar’s value goes into the toilet. Under a deflationary system – that is, rising purchasing power – the incentive flips on its head. Essentially, if investors do nothing and sit on cash, they enjoy a guaranteed positive return of relative wealth. Thus, any investment opportunity must be so compelling that people will give up guaranteed returns. On a related note, that’s the reason why, arguably, most folks hate deflationary cycles. Not surprisingly, then, Gurufocus.com considers TROWsignificantly undervalued. Still, contrarian investors may appreciate the opportunity as the underlying company features its industry’s top-level growth and profitability metrics. In addition, T. Rowe features aforward yield of 4.24%. Source: monticello / Shutterstock If you thought buying the above idea for cheap dividend stocks was extremely risky, look atUnited Parcel Service(NYSE:UPS). I don’t want to spend too much time beating a dead horse. However, the consumer economy suffered badly this year. As a result, a rival courier service disclosedterrible pre-earnings figuresthat sent shockwaves throughout the market in September. Understandably, UPS finds itself in the crosshairs. Nevertheless, its performance isn’t too awful, losing about 21% YTD in the price charts. Fundamentally, the hesitation is understandable given that the ratio ofe-commerce salesrelative to total retail sales has diminished conspicuously since the Covid peak. Nevertheless, the ratio did pick up in the second quarter of this year. For the extreme contrarian seeking cheap dividend stocks, Gurufocus.com labels UPSmodestly undervalued. Despite incoming challenges, the company currently stands strong regarding growth and profitability metrics. The deflated equity value and the forward yield of 3.6% might make shares worthwhile for gamblers. 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. 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. • 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 post7 Dividend Stocks That Are Too Cheap to Ignoreappeared first onInvestorPlace. || 7 Penny Stocks to Buy Before the Bull Market Returns: Amid macro-level uncertainties, figuring out which penny stocks to buy before the bull market returns is probably the last thing on your mind. With stockstaking another diveafter the latest inflation numbers, it may seem as if they have plenty of room to fall before hitting a bottom. However, given that it’s near-impossible to call one, sitting on the sidelines isn’t the best course of action. Instead, the key is to use today’s volatility to your advantage by buying stocks that have become oversold due to negative market sentiment. Some of the best opportunities can be found among penny stocks. They are more likely to become mispriced during a bear market. When the market hits bull market mode again, these names could produce outsized returns as they are re-rated. Of course, you have to be selective. Buying every penny stock out there isn’t going to be profitable. Stick with names with favorable risk/return propositions, such as these seven penny stocks to buy before the bull market returns. InvestorPlace - Stock Market News, Stock Advice & Trading Tips [{"BTG": "FREE", "B2Gold": "Whole Earth Brands", "$3.37": "$4.61"}, {"BTG": "GGB", "B2Gold": "Gerdau", "$3.37": "$4.41"}, {"BTG": "NOK", "B2Gold": "Nokia", "$3.37": "$4.94"}, {"BTG": "QRTEA", "B2Gold": "Qurate Retail", "$3.37": "$2.73"}, {"BTG": "RSI", "B2Gold": "Rush Street Interactive", "$3.37": "$5.19"}, {"BTG": "UEC", "B2Gold": "Uranium Energy", "$3.37": "$4.13"}] Source: Pavel Kapysh / Shutterstock.com Canada-basedB2Gold(NYSEAMERICAN:BTG) operates gold mines around the world. Gold stocks have taken a hit in recent months on a strengthening U.S. dollar. So, with the underlying commodity struggling, why buy BTG stock now? For one, it has low operating costs. Per its latest financial results, B2Gold’s all-in sustaining costs came in at$1,111 per ouncein the second quarter. With gold prices around$1,700an ounce, management expects to generate consolidated cash flows from operating activities of around$575 millionfor the full year. This means the company is likely to continue returning cash to shareholders in the form of a high dividend. The stock currently throws off a 4.7% yield. BTG stock could move substantially higher when stocks resume their longer-term uptrend, potentially spurred by the Federal Reserve cutting interest rates. Lower rates may weaken the dollar, pushing gold prices higher. With its costs largely fixed, a slight move higher in gold prices could result in a big jump in this gold miner’s profitability. Source: Patrick Civello / Shutterstock Its corporate name may suggest it makes health foods, butWhole Earth Brands(NASDAQ:FREE) is in the artificial sweetener business. It makes and markets a wide variety of branded sweetener products, including the famed Equal brand. The stock trades at a low valuation relative to other consumer packaged goods stocks with a forward price-to-earnings ratio of 6.3 compared with17.9 for the sector. Whole Earth Brands has borrowed heavily to acquire companies in its industry such asplant-based sweetener company Wholesome. Inflationary pressures are also a risk. Yet, if it begins to use its cash flow to pare down its debt, as well as wring out cost savings from integrating its acquisitions, Whole Earth could become less levered and more profitable. This could result in shares, just within penny stock territory today, making a return to double-digit price levels. Source: casa.da.photo / Shutterstock.com Steel stocks have whipsawed in 2022, andGerdau(NYSE:GGB) is no exception. Shares of the Brazil-based steel products company rallied earlier this year as supply shocks stemming from Russia’s invasion of Ukraine led to a run-up in commodity prices. More recently, GGB stock has performed poorly, as steel demand has been affected by China’s economic slowdown. The prospect of a global recession has dampened sentiment too. Yet, with a heavily discounted valuation of less than 3x trailing earnings and less than 6x forward earnings, macro challenges may already be priced in. The fact that the company is based in Brazil, whose economy faces severe headwinds, may scare off some investors. But Gerdau is geographically diversified. As ratings agency Fitch has argued, this helps ithedge against country-specific economic challenges. There’s much to suggest this low-cost steel producer can ride out a downturn. Once steel demand comes back, its shares could make a comeback as well. This makes it one of the penny stocks to buy before the bull market returns. Source: rafapress / Shutterstock.com At writing,Nokia(NYSE:NOK) is barely in the penny stocks category. Yet, even if it gets back above $5 per share, it’s a low-priced stock worth considering if you’re looking for opportunities with high upside potential. Shares of the Finland-based telecom equipment maker have delivered mixed performance in recent years. If you traded the stock during the meme stock mania of 2021, you may have found it profitable. Yet, shares are down around 20% year to date. So, what signals that NOK stock can have a liftoff moment outside of another “meme wave?” The answer, I’ve long argued, issuccess with its turnaround. The 5G rollout continues. Combined with its efforts to reduce operating costs, Nokia could steadily improve its profitability in the coming years. Achieving this could result in the market rewarding shares with a higher valuation than they sport today, which is just 11.1x forward earnings. Source: Natee Photo / Shutterstock Qurate Retail(NASDAQ:QRTEA) is the parent company of QVC and HSN. In an effort to keep up with the times, the legacy home shopping company has pivoted to e-commerce and streaming. Yet, while management seems to have a game plan to ride out the decline of linear TV, and ride out an economic downturn, investors don’t appear too confident. QRTEA stock has fallen 70% over the past year. It now trades at a heavily discounted valuation of 3.7x estimated 2022 earnings. If you have a high tolerance for risk, though, you may want to buy it. As aSeeking Alphacommentator arguedearlier this month, the company could end up delivering future results well ahead of the analyst community’s low expectations. The market may be overestimating Qurate Retail’s risk of ultimately going into bankruptcy. If it can ride out a possible recession and modernize its business, shares could make a triple-digit recovery. Source: sutadimages / Shutterstock Rush Street Interactive(NYSE:RSI) has tanked this year alongside other sports betting stocks as investors soured on this industry. Even with heavy spending to attract bettors, most of the major names in the space have yet to become profitable. That’s the case for Rush Street Interactive, which operates the BetRivers sports betting platform. But as shares flirt with penny stock territory, RSI stock may be worthy of a buy. On a sequential basis,operating losses narrowedlast quarter. This suggests the company is pulling back on aggressive marketing spend. Now, with a steady customer base, it may be ready to shift its focus from revenue growth no matter the cost to achieving profitability. Rush Street Interactive may also be a takeover target. As aBenzingacommentator recently noted, larger operators looking to gain market sharemay be interested in buying it. Source: John Carnemolla / Shutterstock.com Uranium Energy(NYSEAMERICAN:UEC) is a stock valued mainly on its future potential, not its current results, which means continued volatility in the near term. Shares are up 12% for the year but well off their highs from the spring when uranium prices got a big boost from the Russia/Ukraine conflict. However, an even larger jump for uranium plays like UEC stock may lie ahead. AsInvestorPlace’sSamuel O’Brient reported last month, both the International Energy Agency and Elon Musk have made positive statements aboutnuclear power’s merits as an energy source. If governments around the worldfollow Japan’s leadand decide that nuclear power is the right choice to both save the planet and reduce dependency on oil-rich nations like Russia, uranium demand could soar. And that could dramatically increase the value of Uranium Energy’s collection of uranium assets and its share price. 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, Thomas Nieldid 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. Thomas Niel, contributor for InvestorPlace.com, has been writing single-stock analysis for web-based publications since 2016. • 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 post7 Penny Stocks to Buy Before the Bull Market Returnsappeared first onInvestorPlace. || Cathie Wood's Ark Invest bought the dip in Tesla after sell-off sparked by disappointing delivery figures: Cathie Wood speaks on a panel at Miami's Bitcoin 2022 conference. Rebecca Blackwell/AP Photo Cathie Wood's Ark Invest snapped up Tesla shares this week for the first time since mid-June. Wood's fund bought over 132,000 Tesla shares after the electric carmaker fell 9% Monday. Wood has earned a reputation for dip-buying in 2022 - but her flagship fund is down 60% year-to-date. Cathie Wood's ARK Invest bought Tesla shares for the first time since mid-June after the electric carmaker missed its third-quarter delivery targets. Ark bought 132,213 shares in Tesla Monday through its Ark Innovation and Ark Next Generation exchange-traded funds after Elon Musk's firm slumped 8.6% for its lowest finish to a trading session since July 18. Tesla shares fell after its third-quarter delivery numbers came in under target. It jumped just over 3% in premarket trading Tuesday but has still fallen 32% year-to-date. Wood, a longtime Tesla bull, has spent much of this year trimming her stake in the electric carmaker. Monday marked the first time since June and the second time in 2022 that she added exposure to Elon Musk's company. Tech stocks have particularly suffered during this year's sell-off, with the Nasdaq tumbling 31.6%. But Wood has used that slump as an opportunity to buy the dip in some of the innovation-focused stocks her funds tend to target. Wood's eight exchange-traded funds snapped up shares in 27 companies including Roku , Butterfly Network , and Zoom Video Communications last month, even as the Nasdaq suffered its worst one-day drop since the pandemic-driven sell-off of March 2020. Wood's flagship Ark Innovation ETF has plummeted over 60% this year despite her hunt for bargains, with aggressive Federal Reserve interest rate hikes weighing on some of her highest-profile holdings. Read more: 'Big Short' legend Michael Burry warns stocks will keep falling - and predicts many investors will suffer heavy losses Read the original article on Business Insider || Bybit Creates Expand Your Options Series for New BTC and ETH Contracts Ahead of Merge Excitement: SEYCHELLES --News Direct-- Bybit Bybit, the world's third most visited crypto exchange, launched its ultimate options trading guide today, an open resource to help investors navigate the lucrative world of crypto options. The guide, which is the most comprehensive in the industry, will see Bybit’s analysts take the position of mentors to new and experienced options traders alike as they explore the platform’s new BTC, ETH, and SOL options contracts. The guide is titled “Expand Your Options” and will teach users how best to trade Bybit’s first-in-market USDC-margined options contracts. Options trading makes up a significant part of traditional markets, and as Bybit has many retail investors among its 10 million-strong user base, the Bybit team decided to help make these products more accessible to a wider range of market participants. Indeed, creating user-friendly, educational products is part of Bybit’s mission to become the crypto ark of the world. In this spirit, the new options guide includes an eight-part guide that covers basic, rookie, and veteran strategies. It also shows how derivatives traders can expand their strategies to include new and effective hedging strategies using options. In part three, the guide covers basic options strategies such as the “covered call,” and in part four it expands on more advanced plays such as “straddle” and “strangle”. The guide also describes options spreads, shows how they work, and shares how to best use this strategy via a step-by-step process. “The new options guide will help empower our users to achieve their financial dreams,” said Ben Zhou co-founder and CEO of Bybit. “Our team of experts has created this ultimate guide to trading options, which covers everything from beginner to advanced strategies. We are now a crypto ‘super app’ that serves all crypto participants; anything our customers need in crypto, we will offer.” Bybit was the first crypto exchange to build options contracts that are margined and settled in USDC. Bybit users can settle and trade with more certainty and ease without needing to own the underlying crypto asset. They are European-style cash-settled options, which can only be exercised when the contract expires. Story continues Bybit’s options system uses a risk-based margin requirement that is aligned with the general risk of an entire portfolio. It increases capital efficiency by deploying profits from winning positions to offset the losses of losing positions in the same portfolio. //ENDS About Bybit Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR), City Esports, and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka. For media inquiries, please contact: [email protected] For more information please visit: https://www.bybit.com/ Contact Details Bybit [email protected] View source version on newsdirect.com: https://newsdirect.com/news/bybit-creates-expand-your-options-series-for-new-btc-and-eth-contracts-ahead-of-merge-excitement-483529431 || Bitcoin Technology Startup Synota Raises $3M in Seed Round: Synota, a startup that wants to bring energy payments to Bitcoin’s Lightning Network, has raised $3 million in a seed round led by Ego Death Capital, a newer venture capital firm focused on the Bitcoin ecosystem . The new capital will be used toward the commercialization of Synota’s software, including plans for a bitcoin mining-related service. Other investors in the round included Trammell Venture Partners, Rev1 Ventures, Hivemind VC, Bitcoiner Ventures and Recursive Capital, among others. “There's certain properties that Bitcoin has, such as peer-to-peer payments and being able to have instant settlement of those payments,” Synota co-founder Austin Mitchell said during an interview with CoinDesk. “We've found a way to leverage those properties and apply them to an everyday payment for people all over the world – their gas and electric bills.” “Our software basically has the ability for your energy meter to talk directly with your digital wallet," he continued. "It’s able to process payments and settle transactions instantly." Synota integrates existing hardware and software products currently used by the energy industry with Bitcoin's Lightning Network. The overall idea would be for an energy company to end up with a smart network of production and consumption nodes. The network could see that higher energy production heading in one direction would require more payments to flow the other way, minimizing payment lags and cutting back-office costs. “Bitcoin and energy are synonymous, merging over time due to positive incentives for energy producers,” said Ego Death Capital founding partner Andi Pitt in an email. “Synota intends to accelerate the integration of these two fundamental aspects of the new global financial system. “ Founded in 2022 by Mitchell and Lisa Scott, Synota will initially have a business-to-business focus on industrial users and energy companies, but the startup plans to expand to cover more types of energy transactions. Synota’s first commercial site should be up and running later this year. Pay-as-you-go transactions for bitcoin miners should become available in early 2023. Read more: What is Bitcoin’s Lightning Network? [Random Sample of Social Media Buzz (last 60 days)] None available.
Trend: up || Prices: 15880.78, 17586.77, 17034.29, 16799.19, 16353.37, 16618.20, 16884.61, 16669.44, 16687.52, 16697.78
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 2019-12-04] BTC Price: 7252.03, BTC RSI: 35.52 Gold Price: 1474.00, Gold RSI: 50.71 Oil Price: 58.43, Oil RSI: 57.04 [Random Sample of News (last 60 days)] Bitcoin, Ethereum & Ripple - American Wrap: 11/12/19: Bitcoin technical analysis: BTC/USD some hope as price moves within a bullish flag • Bitcoin price is trading in positive territory, up some 1.30% in the second half of the session. • BTC/USD price action is within consolidation mode, has been since breaching $9000. • Critical near-term support eyed at $8500, failure to hold could be punishing. Ethereum technical analysis: ETH/USD critical trading range needs momentum to break • Ethereum price is trading marginally in the red, down 0.10% the session on Tuesday. • ETH/USD trading remains narrow, as the price moves within a range of $180-195. • The price continues to have difficulty trading to break down the resistance ahead of the big $200 mark. Ripple's XRP technical analysis: XRP/USD bears hunting for big $0.2500 retest • Ripple's XRP price is trading with the red by some 1.00% in the session on Tuesday. • XRP/USD is running towards its second week in the red, the bears are back within control. • The price is retreating following a decent run higher from late October. Image byMichaelWuenschfrom Pixabay 0 See more from Benzinga • MediPharm Labs Q3 Revenue Rises 38%, CEO Says Increase Driven By Private Label Business, Exports • GBP/USD Forecast: Downside Remains Limited • EUR/USD Forecast: Bearish Momentum To Accelerate Once Below 1.0990 © 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || U.S., South Korea Bust Giant Child Porn Site by Following a Bitcoin Trail: (Bloomberg) -- U.S. and Korean authorities say they broke up one of the world’s largest markets for child pornography, a crime that is proliferating at a furious pace with the rise of cryptocurrency and encrypted online content. The bust was revealed Wednesday as the U.S. unsealed an indictment against Jong Woo Son, 23, who prosecutors say operated a Darknet market that accepted Bitcoin and distributed more than 1 million sexually explicit videos involving children. Son, a South Korean national, is serving 18 months in prison after being convicted there. Since agents shuttered the site in March 2018, authorities have arrested 337 site users around the world. They were in countries including the U.K., Germany, Brazil, Saudi Arabia and the United Arab Emirates, and in nearly two dozen U.S. states, according to U.S. authorities. The U.K. government said people in 38 countries were arrested. The site, which encouraged users to upload videos, included hundreds of thousands of illicit images not previously seen by authorities. Authorities say they rescued at least 23 minor victims in the U.S., U.K. and Spain who were being actively abused by users of the site, which operated from June 2015 until March 2018. “What we are here to discuss today, the sexual exploitation of children, is one of the worst forms of human evil imaginable,” Jessie Liu, the U.S. attorney for the District of Columbia, said Wednesday as she announced the charges. She added, “Children around the world are safer because of the actions taken by U.S. and foreign law enforcement to prosecute this case and recover funds for victims.” Images of sexual exploitation have mushroomed since 2014, when the National Center for Missing and Exploited Children received reports of 1.1 million incidents of child pornography. By last year, that number had risen to 18.4 million. The Darknet refers to encrypted online content that hides from traditional search engines. The anonymity of the Darknet has fostered crimes like narcotics trafficking, money laundering and child pornography, prosecutors say. Cryptocurrency also has been cited in a wide range of crimes in which people seek to move money anonymously around the world. Son’s site, called Welcome to Video, contained more than 250,000 unique videos. Of those, 45% contained new images that were previously unknown, according to the National Center for Missing and Exploited Children. The site operated as a “hidden service” on the Tor network, which concealed the location of the operator and users, said Deputy Assistant Attorney General Richard Downing. Child sex offenders set up online communities that “brazenly promote victimizing children and even infants, educate members about how to perpetrate abuse without getting caught, encourage members to document their abuse, and distribute those videos and pictures to groups of predators,” Downing said. Son was indicted under seal in Washington in August 2018 on child pornography and money laundering charges. Users could join the site free with a user name and password, allowing them to download videos. They earned “points” by uploading videos and referring new users. They could buy a “VIP” account that allowed unlimited downloads for six months if they exchanged Bitcoin valued at $353 in March 2018, the indictment said. The server for the site was run out of Son’s bedroom, according to the indictment. U.S. authorities disclosed information about three dozen of the accused site users, including former federal agents and a Georgia man who videotaped children in his own bathroom and uploaded videos of them. The other site users who’ve been charged weren’t identified. Two users took their own lives after search warrants were executed, authorities said. Prosecutors also filed a civil forfeiture complaint to seize 24 cryptocurrency accounts of users who conspired to launder money and possess child pornography. Investigators from the Internal Revenue Service and Homeland Security Investigations worked with law enforcement around the world, including the U.K.’s National Crime Agency. The NCA said it uncovered the Welcome to Video site while investigating a man now serving a 25-year jail term, and that it identified Son as the operator. Agents from the IRS Criminal Investigation Division also claimed credit. Don Fort, chief of the division, said they determined the location of the Darknet server in South Korea, identified Son and found the physical location of the website. They also unmasked users hiding behind Bitcoin transactions, Fort said. “Our agency’s ability to analyze the blockchain and de-anonymize Bitcoin transactions allowed for the identification of hundreds of predators around the world,” Fort said. “The scale of this crime is eye-popping and sickening.” (Updates with prosecutor’s comments.) --With assistance from Neil Weinberg. To contact the reporter on this story: David Voreacos in federal court in Newark, New Jersey, at [email protected] To contact the editors responsible for this story: Jeffrey D Grocott at [email protected], David S. Joachim For more articles like this, please visit us atbloomberg.com ©2019 Bloomberg L.P. || Top 10 altcoins in 2019: Most crypto investors and enthusiasts are always looking for the best opportunity to scoop some altcoins. However, while it may be tempting to value altcoins versus the US Dollar, such a metric may lead to bad outcomes. In this piece I will look into the top altcoins and how they’re performing versus Bitcoin. Hopefully, at the end, it will be clear if now is a good time to purchase additional units, given each altcoin price vs BTC. Looking into Bitcoin dominance BTC dominance vs altcoins, courtesy of Trading View First things first. As I did mention last week , it’s important to focus on the overall state of the altcoin market. Hence, a key metric to look into, at either Coinmarketcap, Messari or Trading View, is the total Bitcoin dominance (BTC.D). Since early 2018, when Bitcoin’s dominance was on the low of around 33%, the world’s leading cryptocurrency has slowly begun to regain its due credit, as investors and traders flee the altcoin market on the burst of the ICO bubble. After the turmoil that remained throughout 2018 and the altcoin bloodshed of the current year, it seems Bitcoin investors may be looking into diversifying with riskier assets. Looking above, dominance shifted after the high during early September, when BTC.D touched 73%, to around 68%, where it sits now. Looking at the macro trend, it seems BTC.D has a tendency to grow exponentially fast and then spill over altcoins. If the trend continues, I argue altcoins are in for a treat. We could expect BTC dominance to eventually touch the support line (pink), perhaps after the halving event happening sometime in May 2020. This means some altcoins could have a serious pump. Which ones though? Current top contenders Top-10 altcoins vs BTC, courtesy of Messari.io Looking at the real top-10 list of altcoins, when measured versus Bitcoin, there seem to be some interesting surprises. I will ignore the coins I’ve discussed last week, such as ChainLink, Stellar and Binance coin. On this piece I will mainly focus on the rest of the pack. Story continues The first, and most obvious, is Ethereum. Looking above, it’s the most liquid after Bitcoin and has been out-performing the BTC over the last three months. However, ETH is still quite below it’s all-time-high (ATM), both in BTC and USD. Looking at the past year alone, ETH has underperformed BTC at some 30%. Moreover, in dollar terms, ETH is still 80% below its ATM. Ripple’s XRP has mostly suffered the same fate. It is down close to 50% since last year in Bitcoin terms and over 90% in dollar terms since its ATM, in early 2018. XRP has been recovering and, during the past three months, it went up more than 30% in BTC terms. Quite a nice recovery for the cryptocurrency. Bitcoin Cash, the project led by Roger Ver – an awesome guy I was able to talk to early this year – has been the worst performer of the pack. Even though it has been having loads of new commits, BCH hasn’t been able to push higher. It’s still sitting 60% below since last year in BTC terms and hasn’t been improving recently. Finally, both Litecoin (LTC) and EOS have been making shy attempts at pushing higher. While LTC is still down more than 20% since last year’s highs, EOS is above 55%. After the LTC halving event, which took place a month ago, the coin saw a huge pump followed by a massive dump. EOS has also been facing some issues with block producers, which may explain some of the recent price-action. Will altcoins ever pump? Even though it is impossible to see the future, if history has taught us anything, it is that present moments have a tendency to rhyme with the past. With new, fresh cash coming into the market, let it be due to DeFi, IEOs, STOs, or whatever new trend may happen, what I expect is a selected number of altcoins to massively pump, as they get adopted by new investors and traders. Surely history does not repeat itself, but since altcoins are a thing, they’ve pumped massively on every Bitcoin bull-run. Why wouldn’t the same happen again? Beats me. Hence, my stance is that some level of portfolio diversification may be the smart thing to do, in order to increase potential gains. Of course, with additional reward comes additional risk. Never forget, altcoins are not the king. On the best case scenario, most crypto enthusiasts will surf the altcoin trend in order to maximize Bitcoin gains. Safe trades! The post Top 10 altcoins in 2019 appeared first on Coin Rivet . || Justin Sun reveals investment in Poloniex crypto exchange: Speaking to his followers in a live stream hosted by Poloniex this week, Tron founder Justin Sun revealed that he was one of the investors to purchase a stake in the US crypto exchange earlier this year. While Poloniex was acquired by global financial services company Circle just 18 months ago, it has since spun-off from its parent company to form an independent entity. Sun was quick to remind his followers that while he did indeed have an interest in Poloniex, the company remained independent and was not under the control of Tron. Rumours that Sun may be involved in the acquisition first surfaced in October following an initial announcement from Circle that the newly formed parent company of Poloniex, Polo Digital Assets, had been backed by an Asian investment group. Despite this, the young Tron founder initially dismissed reports that he had been part of the acquisition, which may have been because negotiations were still ongoing. What is Poloniex? Formerly one of the largest exchanges in the crypto market, Poloniex is a US-based exchange which was founded in 2014. It’s currently one of the oldest and most trusted cryptocurrency exchanges available. Poloniex has also committed to serving institutional investors, launching dedicated accounts for financial professionals and offering large over-the-counter trades and high withdrawal limits for accredited traders. The exchange has recently been implementing a number of fiat-backed stablecoins to facilitate trading, including Tron’s own version of Tether . Sun’s investment With Poloniex still operating as an independent entity, many may question what Sun’s interest in the exchange is. Sun’s announcement came shortly after the news that TRX, the Tron protocol’s native token, has been listed on the exchange with Bitcoin, Tether, and USDC pairings. The listing gives Tron a new route into American markets, which is something Sun has been keen to develop since founding the protocol. In 2018, Tron opened an office in San Francisco and has been expanding its operations there since. Story continues Tron also acquired leading peer-to-peer file network BitTorrent this year, through which the company launched the BTT token to meet its goal of decentralising media access across the web. During the live stream, Sun announced that he and the other investors in Poloniex would be helping to grow the exchange’s current operations. Sun did not reveal the value of his investment nor his stake in Poloniex. The post Justin Sun reveals investment in Poloniex crypto exchange appeared first on Coin Rivet . || Bakkt’s monthly bitcoin futures hit all-time-high of $15M: Bitcoin derivatives provider Bakkt just logged the largest single-day trading volume of its physically-settled monthly bitcoin futures. The volume hit ~$15.33 million on Friday, passing its previous high of ~$10.25 million on October 25. The total volume of Bakkt’s monthly bitcoin futures now stands at $106.74 million (12,012 BTC) since its launch on Sept. 23. The average volume has been ~$3.05 million (343.2 BTC) a day over the last 35 trading days. To be sure, $15 million is a small fraction of the average daily turnover on more established crypto trading platforms, such as CME Group. Bakkt recentlyannouncedthat its plans to launch a cryptocurrency consumer app and merchant portal in the first half of 2020 with Starbucks, the provider's first launch partner. Intercontinental Exchange (ICE) CEO Jeffrey Sprecher alsoannouncedin an earnings call that all types of financial institutions were talking to Bakkt to explore the possibility of adopting its offering. ICE is the main backer of Bakkt. In October, the firm rolled out aliquidity incentive program, which is awaiting approval from the CFTC, according to a source. || The Crypto Daily – Movers and Shakers -03/11/19: Bitcoin rose by 0.47% on Saturday. Following on from a 1.11% gain from Friday, Bitcoin ended the day at $9,332.1. A mixed start to the day saw Bitcoin fall from an early morning high $9,330.1 to a mid-morning intraday low $9,251.5. Steering clear of the first major support level at $9,138.73, Bitcoin rallied to an early afternoon intraday high $9,429.5. Bitcoin broke through the first major resistance level at $9,386.13 before falling back to $9,300 levels. For the bulls, the extended bullish trend remained intact in spite of failing to break out from the 38.2% FIB of $9,734. Bitcoin has continued to hold above the 62% FIB of 7,245. Across the rest of the top 10 cryptos, it was a mixed day for the majors on Saturday. Bitcoin Cash ABC led the way, rallying by 3.73%, with Bitcoin Cash SV (+1.38%) and Stellar’s Lumen (+1.27%) also seeing solid gains. While Binance Coin (+1.00%) and Ripple’s XRP (+0.92%) found support, EOS saw red on the day, falling by 0.94%. Litecoin (+0.05%), Tron’s TRX (-0.04%), and Ethereum (-0.01%) ended the day flat. For the current week, it was also mixed. Bitcoin Cash ABC (+9.89%) and Stellar’s Lumen (+8.80%) led the way. Binance Coin (+4.55%) and Tron’s TRX (+3.33%) also made solid gains going into this morning. Bitcoin Cash SV joined Bitcoin in the red, sliding by 6.1%. Litecoin (-2.55%), Ripple’s XRP (-1.24%), Ethereum (-0.58%), and EOS (-0.27%) were also in the red. Through the current week, the total crypto market cap rose to a Monday high $257.32 before sliding to a Thursday low $241.47bn. At the time of writing, the total market cap stood at $249.98bn. Bitcoin’s dominance held steady 67% levels on the day, while trading volumes eased back from $120bn levels to sub-$80bn levels. At the time of writing, Bitcoin was up by 0.46% to $9,375.2. A bullish start to the day saw Bitcoin rise from an early morning low $9,332.2 to a high $9,400.6 before easing back. Bitcoin left the major support and resistance levels untested early on. Elsewhere, Bitcoin Cash ABC led the way, rallying by 3.21%. Tron’s TRX (+1.38%) and Bitcoin Cash SV (+1.15%) also found strong support early on. Stellar’s Lumen bucked the trend, down by 0.44% at the time of writing. Bitcoin would need to steer clear of sub-$9,340 levels to support another run at the first major resistance level at $9,423.90. Support from the broader market would be needed, however, for Bitcoin to break back through to $9,400 levels. Barring a broad-based crypto rally later in the day, Bitcoin will likely fall short of $9,500 levels for a 5thconsecutive day. Failure to steer clear of sub-$9,340 levels could see Bitcoin hit reverse. A fall back through to sub-$9,300 levels would bring the first major support level at $9,245.90 into play. Barring a crypto meltdown, however, Bitcoin should steer clear of the second major support level at $9,159.70. Thisarticlewas originally posted on FX Empire • US Stock Market Overview – Stocks Surge Following Robust Employment Report • European Equities: A Week in Review – 01/11/19 • Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 02/11/19 • Gold Weekly Price Forecast – Gold Markets Pressing Major Resistance • Crude Oil Weekly Price Forecast – Crude Oil Markets Continue To Grind Sideways • Gold Price Prediction – Gold Slips Following Employment Data || CFTC Chair Says Ether Futures ‘Likely’ in 2020: Commodity Futures Trading Commission (CFTC) Chairman Heath Tarbert believes the crypto world will see ethereum futures contracts sometime in 2020. Speaking at Georgetown University in a fireside chat during the first day of DC Fintech Week, Tarbert told moderator Chris Brummer that he “absolutely” believes ether futures could trade in the next six to 12 months. “I’d say it is likely that you would see a futures contract in the next six months to a year,” he told Brummer, though he cautioned that simply launching a futures contract isn’t the be-all and end-all. He went on to add: Related: Crypto Derivatives: On Misleading Measurements “The volume to which it’ll trade, no idea, that’s where the markets decide, but my guess is now that we’ve provided at least … a little bit more clarity on [ether’s eligibility for futures contracts], my guess is market participants will consider that.” Tarbert first declared ether a commodity earlier this month , announcing that his agency would be willing to approve futures contracts on the world’s second-largest cryptocurrency by market capitalization. However, it remains unclear who might actually be interested in offering ether futures contracts to the U.S. market. Speaking to reporters after his appearance on stage, Tarbert noted that, at least to his knowledge, no company has applied to launch such a product. “None that I know of,” he said in response to a question about who has applied. “My guess is that it will come soon but I don’t know where they’re coming from.” Related: Binance Hikes Leverage to 125x for Launch of Bitcoin-Tether Futures Spokespeople for Cboe and the Intercontinental Exchange – which offer or offered bitcoin futures contracts – did not immediately return requests for comment. A CME spokesperson told CoinDesk in a statement that the company “has no plans to introduce additional cryptocurrency futures.” “Right now, we are focused on bringing options on CME bitcoin futures to market in Q1 2020 and continuing to grow our CME CF Reference Rates and Real-Time Indices,” the spokesperson said. Story continues Next steps On the CFTC’s side, approving an ether futures product will depend on the application itself, Tarbert said. Companies looking to list these contracts can apply to self-certify or can have the CFTC go through the product and approve it. The process would be similar to approving bitcoin futures contracts . Exchanges “could start it on their own or they could come to us with an application and ask us to grant it to be able to [offer the product],” he told a press gaggle, adding: “Now in the past most people have not been self-certifying, they’ve been coming to us particularly if they’re creating an entirely new exchange and DCO [derivatives clearing organization] so it’ll depend I think in large part on who wants to have it on their trading platform. Is it one of our existing exchanges that’s been working with the CFTC for years or is it an entirely new platform that wants to specialize in it?” At present, there are about four dedicated crypto exchanges looking into derivatives products (Tarbert didn’t name them, but they are likely Seed CX, ErisX, Tassat (formerly trueDigital) and LedgerX), as well as the larger, more established firms that offer bitcoin futures, the CFTC Chairman said. During the fireside discussion, Tarbert added that buyers and sellers would hopefully be reassured that using a CFTC-regulated exchange indicates that there is no market manipulation. “What our markets do, and [have been] doing for 150 years is ensure there’s sufficient price transparency,” he said. “You know that there’s the buyers and the sellers and that price actually represents real aggregate demand.” Other cryptos? The CFTC may soon acknowledge other cryptocurrencies as commodities, Tarbert said during his fireside chat. “There will be other derivatives coming soon to a market near you for crypto assets,” he said, though “coming soon” is relative, given that there are “a couple thousand” cryptocurrencies to assess. He added: “As the the SEC sort of works through its process [and] we work through ours and other regulators, it’s likely we’ll see more but I can’t tell this audience that it’s necessarily coming soon because even the two that we thought about – bitcoin and ether – it took us quite some time to work through those.” There may be a demand for other futures contracts. In the U.K., Kraken Futures (formerly known as Crypto Facilities ) offers residents access to bitcoin cash, litecoin and XRP futures contracts, all of which have grown in popularity after the U.S.-based Kraken acquired the company. Part of the process is working with the U.S. Securities and Exchange Commission (SEC), Tarbert said, noting that under current federal law, any instrument that is not a security is “most likely” a commodity (though exceptions apply: Congress has specified that movie tickets, for example, are not commodities). “What we’re seeing is that if the [SEC] has undertaken its analysis and comes to the conclusion that the particular crypto asset doesn’t meet the old Howey Test as to whether it’s an investment contract and therefore a security, in most cases it’s going to fall in [the commodities bucket],” he said. Tarbert also said that an asset can evolve from a security to a commodity and vice versa, though there may not be a precedent for this. In response to a question from Castle Island Ventures’ Nic Carter about whether this sort of transmutation has occurred before, Tarbert said: “Not that I am aware of.” CFTC image via Shutterstock Related Stories CFTC Takes Action Against Crypto Options ‘Ponzi Scheme’ Fearing USD Decline, Ex-CFTC Heads Propose a Blockchain-Based Digital Dollar || SEC not convinced a "real" Bitcoin market exists, denies Bitwise Bitcoin ETF: The SEC has rejected the Bitcoin ETF proposal from Bitwise Asset Management, snuffing out the last chance for the debut of a Bitcoin ETF at an exchange in 2019. After refusing several applications over the years, the SEC outlined its concerns regarding Bitcoin ETFs in a January letter last year. In response, Bitwise produced extensive research and made presentations to SEC staff to convince them about the readiness of crypto markets for an ETF. But the federal agency’s order rejecting the filing shows that it remains unconvinced. Why did the SEC reject Bitwise? The most cited research from Bitwise asserted that 95 percent of the volume at cryptocurrency exchanges was fake . In its filing and presentations, the San Francisco-based firm argued that its spot prices were derived from the “real” Bitcoin market consisting of 10 cryptocurrency exchanges. This market displayed relatively low spreads and was “resistant” to manipulation, Bitwise opined. The SEC did not buy Bitwise’s argument. VanEck, SolidX pull the plug on Bitcoin ETF proposal “…Because, among other things, the Sponsor has asserted that 95% of the bitcoin spot market consists of fake and non-economic activity, but has not established that it has in fact identified the ‘real’ bitcoin market, or that the ‘real’ bitcoin market is isolated from the fraudulent and manipulative activity,” the SEC’s order stated. The Commission added that efficient price arbitrage between the exchanges did not eliminate the need for surveillance-sharing agreements. “There is no evidence in the record that arbitrage in the bitcoin market is of such unique effectiveness that it would essentially insulate the proposed ETP from attempts at manipulation in a way beyond that of existing derivative securities products that trade on highly regulated markets,” the SEC said. The Commission also took exception to the absence of surveillance-sharing agreements among crypto players. Recent efforts by industry players to form self-regulatory associations for sharing best practices have largely been exclusive and restricted to a limited number of participants. For example, the Virtual Commodity Association from the Winklevoss-brothers backed Gemini does not include North America’s biggest cryptocurrency exchange Coinbase. Story continues “The Commission also notes that NYSE Arca has not stated that it has entered or will enter into surveillance-sharing agreements with those ‘real’ spot platforms that utilize surveillance tools," the SEC’s order states. "Moreover, even if NYSE Arca did enter into such agreements, it is not clear what ability NYSE Arca would have to compel the sharing of surveillance data." Back to the drawing board Bitwise’s attempts to address regulatory concerns about the crypto industry, though ultimately unsuccessful this go around, are already receiving a thumbs-up from industry observers. “Bitwise shows you the perfect example of regulatory engagement and education,” said Zachary Fallon, partner at Blakemore Fallon, a boutique law firm focused on blockchain. According to Fallon, the spotlight on the Bitcoin ETF approval process has resulted in respect for regulation in a crypto ecosystem that grew out of a Wild West. “What we are seeing in the market is an appreciation of securities law that was not present in the market one or two years ago,” he said. “People building in the [crypto] space are building with regulations in mind.” || As Bitcoin slowly recovers, XRP price slides further down: Bitcoin and the rest of the crypto market saw some positive gains today, with almost every major coin in a better place than where they stood yesterday—but not Ripple’s XRP. XRP is down nearly 4 percent on the day, according to data from Messari, currently trading for around $0.22 token. Meanwhile, Bitcoin, Ethereum, Bitcoin Cash, and Litecoin have all improved by anywhere between two and four percent today after tanking over the weekend. Ripple’s XRP is now trading for less than the low it experienced in late September—the last time that the crypto market crashed this hard. At the time, Ripple was trading for between $0.23 and $0.24 per coin. The crash affected the crypto market broadly and saw Bitcoin, for example, fall from around $9,500 per coin to about $8,100, losing roughly $1,400 in just a matter of days. At the moment, Bitcoin is currently trading for approximately $7,100 per coin, losing $2,000 in value in just the last two weeks—a drop that might make XRP holders feel a bit better about their own losses. The price of XRP, however, doesn’t reflect much of the positive news as of late regarding the network. Ripple transactions, for example, are at an all-time high , surpassing both Bitcoin and Ethereum—the two largest cryptocurrencies by market cap—over the weekend. In addition, Coinbase has added XRP spending capabilities to its latest crypto debit card offering, and the network experienced an 80 percent expansion earlier this month. || SEC, CFTC, FinCEN Warn Crypto Industry to Follow US Banking Laws: The heads of three U.S. financial regulators warned the cryptocurrency industry to abide by banking laws in a joint statement published Friday. The statement, signed by Commodity Futures Trading Commission (CFTC) Chairman Heath Tarbert, Financial Crimes Enforcement Network (FinCEN) Director Kenneth Blanco and Securities and Exchange Commission (SEC) Chairman Jay Clayton, “reminds” actors in the crypto space that they must comply with various banking and financial services laws in the U.S., regardless of what they call their cryptocurrencies or tokens. The agencies referred to the Bank Secrecy Act (BSA), which outlines how different financial services businesses should register with regulators. Related: CFTC Chairman Confirms Ether Cryptocurrency Is a Commodity Specifically, the agencies explained that the “nature of the digital asset-related activities” a person participates in will determine which agencies that person should register with, as well as which other laws they need to comply with. “For example, something referred to as an ‘exchange’ in a market for digital assets may or may not also qualify as an ‘exchange’ as that term is used under the federal securities laws,” the statement reads, adding: “As such, regardless of the label or terminology that market participants may use, or the level or type of technology employed, it is the facts and circumstances underlying an asset, activity or service, including its economic reality and use (whether intended or organically developed or repurposed), that determines the general categorization of an asset, the specific regulatory treatment of the activity involving the asset, and whether the persons involved are ‘financial institutions’ for purposes of the BSA.” Blanco, Tarbert and Clayton defined the scope of their agencies with regard to cryptocurrencies and service providers in additional comments published with the joint statement, addressing futures commission merchants, introducing brokers, exchanges, broker-dealers and mutual funds, as some examples. Each of the agency directors went as far as to describe which types of companies their regulatory bodies oversee. Story continues Related: SEC Rejects Bitwise’s Latest Bitcoin ETF Proposal In his comments, Blanco seemingly applied the BSA to virtual currency service providers, noting that his agency published interpretive guidance in May to address “money transmission denominated in value that substitutes for currency,” including cryptocurrencies. “As set forth in the 2019 CVC Guidance, a number of digital asset-related activities qualify a person as an MSB [money services business] that would be regulated by FinCEN,” he said. “FinCEN’s BSA regulations also provide that any person ‘registered with, and functionally regulated or examined by, the SEC or the CFTC,’ would not be subject to the BSA obligations applicable to MSBs, but instead would be subject to the BSA obligations of such a type of regulated entity.” Clayton said his agency’s mandate is to protect investors, ensure fair markets and aid capital formation, which generally oversees the securities space, but added that the BSA does provide the SEC with some other requirements. “Broker-dealers and mutual funds are required to implement reasonably-designed AML Programs and report suspicious activity. These rules are not limited in their application to activities involving digital assets that are ‘securities’ under the federal securities laws,” he said. Jay Clayton image via CoinDesk archives Related Stories YouNow Sees Strong Revenue Growth After SEC Approves Token Distribution Canada’s Blockchain Sector Wants Legal Clarity, New Report Shows [Random Sample of Social Media Buzz (last 60 days)] @bnbtoken Posted... https://t.co/DSDGE6ic3Q || Cedric Dahl — claims that wasabi makes Bitcoin "fungible", cites dark market adoption via /r/Monero https://t.co/i4t5fNLwdV https://t.co/zYHWBrDDtA #senero #monero || Dólar Americano é Uma Arma e Bitcoin é a Defesa, Afirma Keiser https://t.co/d2HfJG1PQA || El precio de #bitcoin ha caído en casi 30% desde que subió a US$ 10.600 en octubre. Los analistas técnicos han comenzado a considerar un nuevo retroceso a la alta región de US$ 6.000. #Criptomonedas #Venezuela #Economia #petro https://t.co/P6kiZ1SQcP || BTC RUB https://t.co/VjKrJn7BUF || To offend you guys, I didn't post this video! #bitcoin and other #cryptocurrencies should be really sorry if they are just for the purpose of speculation and #fundraising Support #workingchildren (For a better tomorrow a happier land and a brighter future) https://t.co/EZfmrBlXHe || @mycointainercom @cryptoearncom #BTC aku datang @Fery98527221 @findingcryptoz @NoleLegendsDapp @rihv026 || Horas antes do preço do Bitcoin cair, 10.000 unidades são enviadas à Binance https://t.co/vUGEa6dkX8 || Bin gespannt auf die zweite Folge zum Thema #bitcoin chain selection. Danke @turm_im &amp; @murchandamus für die erste Folge! https://t.co/KoNEks3VrR || Java #Developer - HAYS ( Camberley, United Kingdom ) - [ 📋 More Info https://t.co/Tgq3PKtO9E ] #Java #jobs #Hiring #Careers #Camberley #United Kingdom #Cryptocurrency #Blockchain #BTC #BitCoin #ETH #crypto https://t.co/TzizJlCBrx
Trend: down || Prices: 7448.31, 7547.00, 7556.24, 7564.35, 7400.90, 7278.12, 7217.43, 7243.13, 7269.68, 7124.67
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 2019-10-14] BTC Price: 8374.69, BTC RSI: 40.29 Gold Price: 1491.70, Gold RSI: 47.42 Oil Price: 53.59, Oil RSI: 44.55 [Random Sample of News (last 60 days)] InstaDApp DeFi Site Raises $2.4 Million From Prominent Crypto Investors: India-based InstaDApp announced Tuesday that it raised $2.4 million to build out its smart wallet. The goal is to help users easily execute advanced transactions through the company’s decentralized finance (DeFi) portal. In the early days of the internet, some of the most valuable properties were portals – websites that gathered information in one place. Now, in the early days of the decentralized web,InstaDAppwants to be a window into multiple DeFi services – one that makes it easy to move assets between them. The round was led by Pantera Capital, with a slew of prominent investors including Naval Ravikant, Balaji Srinivasan,Coinbase Ventures, IDEO Colab,Robot Venturesand Kyber Network’s Loi Luu. Related:Sequoia-Backed Startup Enters DeFi Market With Bitcoin Binary Options In an email to CoinDesk, InstaDApp co-founder Sowmay Jain said his company’s decentralized app (dapp) is an interface to multiple protocols. “For InstaDApp, we focused on building up a layer that acts as the mediator between the user interface and underlying protocols,” Jain said. “This layer, consisting of our smart wallet, bridges contracts and reserve pools, [and] abstracts away lots of complexities.” InstaDapp currently provides interfaces forCompound,UniswapandMakerDAO. As of this writing, InstaDApp is the fourth-largest dapp in DeFi,according to DeFi Pulse, with $30.8 million worth of assets locked in its smart contracts (up from only $4.2 million in early July). “InstaDApp is a very talented team out of India looking to make decentralized finance more accessible,” Balaji Srinivasan, formerly of Coinbase and Earn.com, wrote in a blog post shared with CoinDesk prior to publication. Related:Ripple’s Xpring Looks to Build XRP DeFi Products With New Acquisition “India is actually our second-biggest source traffic after America,” despite the fact that the central bank has restricted financial institutions from facilitating crypto transactions, Sowmay wrote. “The movement might be slowed down, but it cannot be stopped.” Notably, InstaDApp’s Jain is 21 years old; fellow co-founder Samyak Jain is 19. Nevertheless, they have pivoted their lives to crypto, writing in a blog post shared with CoinDesk that they have dropped out of school to “become full-on ‘native DeFi.'” They wrote: “We realized that the traditional finance systems we were studying in school were slow to innovate, extremely restrictive, tightly controlled by financial giants and bound by geographical constraints. With DeFi, though, we realized that we can not only participate, but [are] also able to innovate globally from day one.” InstaDApp co-founders Sowmay Jain and Samyak Jain image via InstaDApp • WATCH: Chainlink CEO Talks Data Oracles • What the Holy Land Reveals About Bitcoin || Taking On More Risk for Yield Isn’t Necessarily the Best Move: This article was originally published on ETFTrends.com. Higher bond prices are conversely pushing down yields to fresh lows for Treasury notes, causing investors to seek yield in higher, riskier debt issues. However, this may not always be the ideal move given the challenging, yield-starved bond market. As global growth fears persist, bonds will likely continue to be the default safe haven as they have been for years when market downturns have taken place. However, when investors allocate capital into bonds, they shouldn’t expect to see extraordinary returns as a byproduct. Per a Fortune report , “Global interest rates, already low for most of the decade since the Great Recession, are falling again, making it harder for pension funds and small investors to harvest the slow-and-steady interest income that makes bonds the foundation of many retirement funds. There are a number of factors at play: A decade-long economic expansion is starting to lose its momentum. The U.S.-China trade war threatens to weigh down global commerce. And a majority of economists expect a recession by 2021. “ “Going forward, the returns are going to be lower than they have been in the last decade,” said Scott Mather, a managing director at bond-investing giant Pimco, which has $1.8 trillion in assets under management. “And that makes it challenging for investors.” What's The Ideal Maneuver While the default move is to simply move capital into higher-yielding debt albeit taking on more risk, this is not always the ideal maneuver. “The natural inclination people have when they see lower yields in their portfolio is to think, ‘Maybe I should allocate more to high yield,’ ” Mather said. “That’s the wrong decision because it can be more dangerous.” One way to counteract more risk for more yield is to look at higher-quality debt. Here are some ETFs that focus on investment-grade debt. Related: Treasury Secretary: 50-Year Bond Under Serious Consideration Investors looking to gain broad-based exposure to bonds can look at funds like the ProShares S&P 500 Bond ETF ( SPXB ) . The fund seeks investment results that track the performance of the S&P 500®/MarketAxess Investment Grade Corporate Bond Index, which consists exclusively of investment-grade bonds issued by companies in the S&P 500. Story continues Investment-grade corporate bond-focused fixed-income ETF options include the iShares Intermediate Credit Bond ETF ( CIU ) , iShares iBoxx $ Investment Grade Corp Bd ETF ( LQD ) and Vanguard Interm-Term Corp Bd ETF ( VCIT ) . Investors looking for broad-based core bond exposure can look to a fund like the iShares Core US Aggregate Bond ETF ( AGG ) . For more market trends, visit ETF Trends and to access up-to-date data on ETFs, visit ETFdb.com . 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 U.S. Markets Close in Red On Impeachment Inquiry Health Concerns Over Vaping Escalate As Walmart Pulls E-Cigarettes From Shelves Total Return Alternatives: Balancing Portfolio Risks When Even Junk Yields Less than 5% Bitwise Bitcoin ETF Ruling Expected Before Mid-October In the Know: Where Markets Stand in the Late-Cycle READ MORE AT ETFTRENDS.COM > || Russian Hacker Pleads Guilty to Huge Data Thefts From JPMorgan, Others: (Bloomberg) -- A Russian hacker admitted Monday that he executed the largest known cyber-attack against a U.S. bank, pleading guilty to charges that he stole data on more than 80 million clients of JPMorgan Chase & Co. and other institutions that netted hundreds of millions of dollars in ill-gotten gains. The hacker, Andrei Tyurin, 36, was accused of stealing customer information from 12 financial news companies, banks and other financial firms, including Fidelity Investments, E-Trade Financial and Dow Jones & Co. His co-conspirators used the information to ply customers with spam emails promoting stocks, hoping to cash out at higher prices, the government has said. Tyurin, who was apprehended last year in the Republic of Georgia and extradited to the U.S., pleaded guilty to charges of conspiracy, wire fraud, illegal online gambling and computer hacking. As part of the deal with prosecutors, the government will recommend that he serve 15 to 20 years behind bars, though the final decision on his sentence will be up to the judge. Tyurin’s plea before U.S. District Judge Laura Taylor Swain in Manhattan, which was expected, brings U.S. authorities a step closer to closing the book on the devastating series of attacks on the financial system from 2012 to 2015. The enterprise extended to all manner of other illicit digital activity, including identity theft and online sales of counterfeit pharmaceuticals and malicious software, as well as hiding the true source of the proceeds to launder the money through bank accounts, prosecutors said. Some of the money was laundered through a Bitcoin exchange. The case of the accused mastermind of the scheme, Gery Shalon, hasn’t been resolved. People familiar with the case have said he is cooperating with authorities. Several other defendants in a related case either pleaded guilty or were convicted after a trial. There was no indication in Monday’s hearing that Tyurin is cooperating. The stiff prison sentence proposed by prosecutors suggests he may not be, because prosecutors typically ask for lenience for defendants who provide useful information. Appearing in court in blue prison garb, his hair cropped close and his legs shackled at the ankles, Tyurin spoke entirely in Russian through an interpreter, including a lengthy series of “nyets” and “das” in response to questions from the judge. He agreed to forfeit more than $19 million, which was calculated based on the amount he and his co-conspirators agreed he would be paid for his work, prosecutor Eun Young Choi said during the hearing. “I pleaded guilty to those counts because I am in fact guilty,” he told Swain through the interpreter. He’s scheduled to be sentenced on Feb. 13. In building their case against Tyurin, prosecutors amassed more than 3,000 pages of digital chats between him and his co-conspirators, primarily in Russian. They also recovered evidence from electronic devices seized from other defendants after they were arrested in Israel, as well as data from the companies documenting the intrusion into their networks. Tyurin was charged in a sealed indictment in 2015, but he remained at large until his apprehension in Georgia and September 2018 extradition to the U.S. Court filings show that Tyurin agreed to plead guilty a month ago and that he had been in negotiations with the government since the spring. He has been held at the federal jail in lower Manhattan since his extradition to the U.S. The scope and sophistication of the hacks in the case led U.S. authorities to initially suspect it was a state-sponsored cyberattack, with potential ties to Russian intelligence. But they ultimately concluded it was the work of an independent criminal enterprise, despite evidence possessed by U.S. intelligence agencies that Russia sought to recruit the hacker. Georgian authorities also said Moscow sought to have Tyurin returned to Russia after his initial arrest, to no avail. Tyurin was the hacking genius at the keys, working with Shalon, an Israeli businessman who was arrested at his home in 2015 in a suburb of Tel Aviv. Shalon was extradited to the U.S. in 2016, but the status of the case against him is shrouded in mystery. Shalon hasn’t appeared in court in more than three years, and hearings in his case have been rescheduled repeatedly. The federal prison registry has no record of his incarceration. What Shalon’s cooperation could yield isn’t precisely known, but it could potentially illuminate links between Russia’s cyber criminals, spy agencies and international crime networks. Shalon had $100 million in Swiss bank accounts at the time of his arrest, and court filings show he agreed to repatriate hundreds of millions more stashed in bank accounts in Switzerland, Georgia, Cyprus, Luxembourg and Latvia. EARLIER: Mystery JPMorgan Hacker Is in U.S. Hands. What Does He Know?JPMorgan Hack Suspect Is Said to Aid U.S. in Bid for LeniencyDigital Don Accused of Hacks at JPMorgan, Dow Jones Over 8 Years (A previous version corrected the scope of the hack to the largest known attack on a U.S. bank.) (Updates with additional details from hearing.) To contact the reporter on this story: Christian Berthelsen in New York at [email protected] To contact the editors responsible for this story: Jeffrey D Grocott at [email protected], David S. Joachim For more articles like this, please visit us atbloomberg.com ©2019 Bloomberg L.P. || US and China hit each other with fresh sanctions as Trump’s trade war continues to escalate: Getty Images China and the US imposed extra tariffs on each other’s goods on Sunday in the latest escalation of their bruising trade war. Despite signs that talks would resume this month, the new round of tariffs took effect in the early hours (4am GMT). Beijing’s levy of 5 per cent on US crude marked the first time the fuel has been targeted since the world’s two largest economies started their trade war more than a year ago. The Trump administration will begin collecting 15 per cent tariffs on more than $125bn (£100bn) worth of Chinese imports, including smart speakers, bluetooth headphones and shoes. In retaliation, China imposed additional tariffs on some of the US goods on a $75bn (£60bn) list but did not specify the exact value of the items being targeted. Beijing imposed tariffs of 5 per cent and 10 per cent on 1,717 items of a total of 5,078 products originating from the US. It will start collecting additional tariffs on the rest from 15 December. Chinese state media struck a defiant note. “The United States should learn how to behave like a responsible global power and stop acting as a ‘school bully’,” the official Xinhua news agency said. Read more Trump made up phone call with China at G7, White House aides admit “As the world’s only superpower, it needs to shoulder its due responsibility, and join other countries in making this world a better and more prosperous place. Only then can America become great again.” Tariffs could not impede China’s development, said the Communist Party’s People’s Daily . “China’s booming economy has made China a fertile ground for investment that foreign companies cannot ignore,” it said, in a commentary under the name “Zhong Sheng”, or “Voice of China”, which is often used to state its view on foreign policy issues. Last month, US president Donald Trump said he was increasing existing and planned tariffs by 5 per cent on about $550bn (£450bn) worth of Chinese imports after Beijing announced its own retaliatory tariffs on US goods. Story continues http://players.brightcove.net/624246174001/default_default/index.html?videoId=6080672638001 Trump insists there’s been communication at the ‘highest level’ after China denies claims they called US officials to restart talks The US tariffs of 15 per cent, which will affect cellphones, laptop computers, toys and clothing, are to take effect on 15 December. The US Trade Representative’s Office said on Thursday it would collect public comments on a planned tariff increase to 30 per cent on a $250bn (£200bn) list of goods already hit with a 25 per cent tariff. Trade teams from China and the United States continue to talk and will meet in September, but tariff hikes on Chinese goods set on Sunday will not be delayed, Mr Trump has said. For two years, the Trump administration has sought to pressure China to make sweeping changes to its policies on intellectual property protection, forced transfers of technology to Chinese firms, industrial subsidies and market access. China has consistently denied Washington’s accusations that it engages in unfair trade practices, vowing to fight back in kind and criticising US measures as protectionist. China has pressed the US to cancel the tariff increase. The trade war further strains Beijing-Washington ties, already overshadowed by US freedom of navigation exercises near Chinese-occupied islands in the disputed South China Sea, and US support for self-ruled and democratic Taiwan, which China claims as its own. Reuters Read more Read more Trump made up phone call with China at G7, White House aides admit World Bank probes £40m China loan over Muslim detention camp funding Trump claims China trade talks protecting Hong Kong protesters China expels journalist ‘because he criticised Xi Jinping’ Bitcoin price shoots up after Trump tweets about China tariffs Trump sends mixed signals on China trade war as pressure mounts at G7 Trump orders US firms to leave China ‘immediately’ || Litecoin's price bounces back while Bitcoin's price stays steady: Litecoinis back above $70, after appreciating more than 15% since its most recent lows of $62 on August 29. However, the current price of $72 does not tell the full story; the fifth-largest cryptocurrency by market cap has had a wild ride in 2019. After starting the year at $31, the price of Litecoin doubled to $60 in the first three months of the year. From then, it rode on Bitcoin's coattails—as did the rest of the market—rising up to $100 on April 2. Shortly afterwards, it rallied again, hitting a high of $145 in June. While most of the market did well during that time, Litecoin received special treatment because it was heading towards itshalving—when the new supply of Litecoin is cut in half. That happened on August 5, but as its price had already started declining, the halving did little to prop up price. In fact, it continued to fall to lows of $63 at the end of August. And the picture was looking bleak. Since the halving, Litecoin's hashrate tumbled below 300 TH/s, down 42% since highs in July. This suggested miners were pulling out of the market because of the falling price. But, Litecoin has seen a turnaround in the last month. The rising price has shown that investors are still interested in the cryptocurrency, especially considering thatBitcoin's pricehas largely flatlined in the same period. Its changing fortunes have also seen the falling hashrate flatten out; it's now back above 300 TH/s, but only just. With just 41 days to go before the project's annualsummitin Las Vegas, it remains to be seen if the atmosphere will be one of jubilation ordespondency. || Square Crypto completes developer team to “improve” Bitcoin: Square Crypto, the crypto arm of the payments company run by Twitter founder CEO Jack Dorsey, has hired three new software engineers, it announced today in atweet. The new hires are from Lightning Labs, Google, and Dorsey’s nemesis, the Facebook-led stablecoin network,Libra: Valentine Wallacejoins from Lightning Labs,Jeffrey Czyzfrom Google, andArik Sozmanfrom Facebook, where he was building the Calibra wallet for Facebook’s blockchain project, Libra. Last month, Square Crypto announced it’d hired Matt Corallo, co-founder of Blockstream and previously aBitcoincore developer. These new hires complete Dorsey’s deck for a software engineering team to “work full-time on open source contributions to the bitcoin/crypto ecosystem,” as Dorseytweetedback in March of this year. Square crypto’s goal is to improve the Bitcoin ecosystem. How exactly? It doesn’t know. But whatever it ends up doing, it’ll be a project that “improves or proliferates bitcoin,” according to today’s announcement. But it probablywon’t be another crypto; Jack DorseytoldThe Sydney Morning Heraldearlier this month that Bitcoin is still the Internet’s “best bet” for a native currency—rather than a commercial alternative. Square Crypto is still on the hunt for a “very senior designer,” who’ll “play a major role in formalizing how the world interacts with bitcoin.” Any takers? || SEC fines Russian firm for failing to disclose paid-for ICO reviews: By Katanga Johnson WASHINGTON (Reuters) - The U.S. Securities and Exchange Commission said on Tuesday that it has fined and settled charges against a Russia-based ratings firm for failure to disclose payments it received to publicize digital asset offerings of issuers it had rated. The regulator said that ICO Rating had not admitted or denied the SEC's charges but had agreed to pay a nearly $269,000 fine for the so-called "anti-touting" violations committed between December 2017 and July 2018. The firm also agreed not to break those rules in the future, the SEC said. ICO Rating did not immediately respond to requests for comment. The SEC has previously issued specific warnings about the promotion of cryptocurrency online fundraisers known as initial coin offerings (ICOs). It is aiming to crack down on the array of 'ICO agencies' that offer crypto issuers active followers and posts on social media platforms such as Reddit and Bitcointalk. These can attract investors, given the lack of conventional financial information available on cryptocurrencies. Some research houses accept payments in the cryptocurrencies they are analyzing and may give positive ratings for a price. Often the payments are not disclosed, a violation of securities law. Reuters reported on the phenomenon last year. "The securities laws require promoters, including both people and entities, to disclose compensation they receive for touting investments so that potential investors are aware they are viewing a paid promotional item," said Melissa Hodgman, a director in the SEC's enforcement division. "This requirement applies regardless of whether the securities being touted are issued using traditional certificates or on the blockchain." (Reporting by Katanga Johnson, Editing by Rosalba O'Brien) || Asset Manager Stone Ridge Files SEC Prospectus for Bitcoin Futures Fund: Another bitcoin futures product is booting up, according to a Stone Ridge Asset Management filing with the U.S. Securities and Exchange Commission. The company filed aprospectusfor a cash-settled bitcoin futures fund – dubbed the NYDIG Bitcoin Strategy Fund – with the regulator on Wednesday. Based in New York City, Stone Ridge has some $15 billion in assets under management, serving clientele in both the United States and China. Founded in 2012, the firm offers portfolio management and advisory services. Related:Trading Volume for Bakkt’s Bitcoin Futures Hit Just $5 Million in First Week One hundred thousand futures shares will be offered at $10 each, and have no minimum purchases. They will be limited to eligible investors as determined by Stone Ridge, the filing states. The fund will not invest in bitcoin or other digital assets directly, but uses bitcoin as the underlying reference asset. To support the fund, Stone Ridge will purchase bitcoin futures to match the fund’s total value one-to-one along with large amounts of cash, government securities, and business securities to maintain liquidity, provide collateral as well as leverage. The prospectus urges caution while calling bitcoin a speculative asset: “Bitcoin was developed within the last decade and, as a result, there is little data on its long-term investment potential.” Related:Bakkt’s Bitcoin Futures Already Open to Retail Investors, COO Says As a prospectus, the details outlined by Stone Ridge are liable to change. Bitcoin-based financial products continue to hit the market, with physically-settled bitcoin futures platform Bakkt launched last week. Whilesettling just over $5 millionin its first week, the launch signaled the end of a regulatory gauntlet spanning more than a year. Stone Ridge did not return questions for comment by press time. Futuresimage via Shutterstock • Bakkt Is Finally Launching Its Bitcoin Futures Today. Here’s What to Expect • CME Files to Double Monthly Bitcoin Futures Open Position Limit to 10K BTC || Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 07/09/19: Bitcoin Cash ABC slid by 1.75% on Friday. Following on from a 0.62% decline on Thursday, Bitcoin Cash ABC ended the day at $287.96. A bullish start to the day saw Bitcoin Cash ABC rally from a morning low $292.54 to a mid-morning intraday high $301.3. Bitcoin Cash ABC broke through the first major resistance level at $297.11 before hitting reverse. The reversal saw Bitcoin Cash ABC slide to a late intraday low $279.24, falling through the first major support level at $285.72.  Bitcoin Cash ABC found support at the second major support level at $279.5 to wrap up the day at $287 levels. At the time of writing, Bitcoin Cash ABC was down by 0.41% to $286.78. A bearish start to the day saw Bitcoin Cash ABC fall from a morning high $288.31 to a low $286.78. Bitcoin Cash ABC left the major support and resistance levels untested. For the day ahead, a move through the morning high to $290 levels would support a run at the first major resistance level at $299.76. Support from the broader market would be needed, however, for Bitcoin Cash ABC to break through to $290 levels. Barring a broad-based crypto rally, Bitcoin Cash ABC would likely come up short of $300 levels on the day. Failure to move through to $290 levels could see Bitcoin Cash ABC slide deeper into the red. A fall through to $282 levels would bring the first major support level at $277.70 into play. Barring another crypto meltdown, however, Bitcoin Cash ABC should steer clear of the second major support level at $267.44. Litecoin slipped by 0.43% on Friday. Following on from a 2.77% slide on Thursday, Litecoin ended the day at $64.98. Tracking the broader market, Litcoin rallied to a late morning intraday high $68.24. The morning rally saw Litecoin break through the first major resistance level at $67.08 before hitting reverse. Coming up short of the second major resistance level at $68.88, Litecoin slid to a late intraday low $63.87. Finding support at the first major support level at $63.85, Litecoin bounced back to $65 levels before easing to sub-$65 at the day end. At the time of writing, Litecoin was up by 0.09% to $65.04. A relatively range-bound start to the day saw Litecoin rise from an early morning low $64.8 to a high $65.12. Litecoin left the major support and resistance levels untested early on. For the day ahead, a move through to $65.70 levels would support a run at the first major resistance level at $67.52. Litecoin would need to move through to $66 levels by the early afternoon, however, to support a breakthrough to $67 levels. Barring a broad-based crypto rally, the first major resistance level and Friday’s high $68.24 would likely limit any upside. Failure to move through to $65.70 levels could see Litecoin slide back into the red. A fall through the morning low $64.80 to $64.30 levels would bring the first major support level at $63.15 into play. Barring a crypto meltdown, Litecoin should steer clear of sub-$63 support levels on the day. Ripple’s XRP slid by 1.85% on Friday. Following a 0.95% from Thursday, Ripple’s XRP ended the day at $0.25180. A relatively bullish start to the day saw Ripple’s XRP rise to a late morning intraday high $0.25962 before hitting reverse. Falling short of the first major resistance level at $0.2597, Ripple’s XRP slid to a late intraday low $0.2475. The reversal saw Ripple’s XRP fall through the first major support level at $0.2537 and second major support level at $0.2508. A late recovery through the second major support level limited the downside on the day. At the time of writing, Ripple’s XRP was down by 0.1% to $0.25154. A mixed start to the day saw Ripple’s XRP rise from an early morning low $0.25054 to a high $0.25195 before easing back. Ripple’s XRP also left the major support and resistance levels untested early on. For the day ahead, a move through to $0.2530 levels would support a run at the first major resistance level at $0.2584. Ripple’s XRP would need the support of the broader market, however, to break out from $0.2530 levels. Barring a broad-based crypto rally, the first major resistance level and Friday’s high $0.25962 would likely limit any upside. Failure to move through to $0.2530 levels could see Ripple’s XRP hit reverse. A fall through the morning low $0.25054 would bring the first major support level at $0.2463 into play. In the event of a sell-off, the second major support level at $0.2403 should limit any downside on the day. Please let us know what you think in the comments below Thanks, Bob Thisarticlewas originally posted on FX Empire • US Stock Market Overview – Stocks Trade Mixed Following Soft Employment Report • Natural Gas Weekly Price Forecast – Natural gas markets explode to the upside • Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 07/09/19 • Gold Price Prediction – Gold Prices Continue to Slide Despite Soft Employment Figures • Forex Daily Recap – USD/CAD Slipped as Loonie Rose over Upbeat Data • Weekly Wrap – Trade, Politics and a Busy Economic Calendar Drove the Majors || Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 04/09/19: Bitcoin Cash ABC rose by 1.97% on Tuesday. Following on from a 4.95% rally on Monday, Bitcoin Cash ABC ended the day at $299.85. A bullish start to the day saw Bitcoin Cash ABC rise from an early morning intraday low $293.21 to a morning high $298.77. Falling short of the first major resistance level at $299.57, Bitcoin Cash ABC eased back to $294 levels before making a move. Finding support from the broader market, Bitcoin Cash ABC rallied to a late afternoon intraday high $305.87. Bitcoin Cash ABC broke through the first major resistance level at $298.77 and second major resistance level at $304.33. The first visit to $300 levels since 28thAugust was short-lived, however, with Bitcoin Cash ABC easing back late in the day. At the time of writing, Bitcoin Cash ABC was down by 0.95% to $297.01. A mixed start to the day saw Bitcoin Cash ABC rise to a morning high $302.02 before falling to a low $296.97. Bitcoin Cash ABC left the major support and resistance levels untested early on. For the day ahead, a move back through to $300 levels would bring the first major resistance level at $306.08 into play. Bitcoin Cash ABC would need the support of the broader market, however, to break back through to $300 levels. Barring a broad-based crypto rally, Tuesday’s high $305.87 and first major resistance level at $306.08 would likely cap any upside. Failure to move back through to $300 levels would likely see Bitcoin Cash ABC struggle through the day. A fall through to $295 levels would bring the first major support level at $293.42 into play. Barring a crypto meltdown, Bitcoin Cash ABC should steer clear of sub-$290 support levels. Litecoin rallied by 5.27% on Tuesday. Following on from a 1.65% gain on Monday, Litecoin ended the day at $70.74. A bearish start to the day saw Litecoin fall to an early morning intraday low $66.63 before finding support. Steering clear of the first major support level at $65.45, Litecoin rallied to a late morning high $70.2. The morning rally saw Litecoin break through the first major resistance level at $68.58. The second major resistance level at $69.96 pinned Litecoin back early on. Easing back through the afternoon, Litecoin fell to $68 levels before a late rally. Litecoin broke back through the second major resistance level at $69.96 to hit an intraday high $71.0. At the time of writing, Litecoin was down by 1.27% to $68.24. Tuesday’s late pullback continued into the early hours. Litecoin fell from a start of a day high $69.36 to a low $67.8. Steering clear of the major support levels, Litecoin tested the first major support level at $67.91 early in the day. For the day ahead, a move back through the morning high $69.36 to $69.5 levels would support a return to $70 levels. Litecoin would need the support of the broader market, however, to take a run at the first major resistance level at $72.28. Failure to move through to $69.5 levels could see Litecoin slide back through the first major support level at $67.91. Barring a crypto meltdown, however, Litecoin should steer clear of sub-$66 support levels on the day. Ripple’s XRP rose by 0.69% on Tuesday. Following on from a 1.74% gain from Monday, Ripple’s XRP ended the day at $0.26347. A choppy start to the day saw Ripple’s XRP slide to an early morning intraday low $0.2586. Steering clear of the first major support level at $0.2553, Ripple’s XRP rallied to an early afternoon intraday high $0.26732. Ripple’s XRP broke through the first major resistance level at $0.2664 before pulling back to $0.262 levels. Finding support from the broader market, Ripple’s XRP managed to return to $0.265 levels before falling back to $0.263 levels. At the time of writing, Ripple’s XRP was down by 0.4% to $0.26242. Tracking the broader market, Ripple’s XRP fell from an early morning high $0.26346 to a low $0.26143. Ripple’s XRP left the major support and resistance levels untested early on. For the day ahead, a move back through to $0.26320 levels would support another run at the first major resistance level at $0.2677. Ripple’s XRP would need the support of the broader market, however, to break out from Tuesday’s high $0.26732. Barring a broad-based crypto rebound, Ripple’s XRP would likely come up short of $0.267 levels on the day. Failure to move back through to $0.26320 levels could see Ripple’s XRP take a dive. A fall through the morning low $0.26142 would bring the first major support level at $0.2589 into play. Barring an extended crypto sell-off, Ripple’s XRP should steer clear of the second major support level at $0.2544. Please let us know what you think in the comments below Thanks, Bob Thisarticlewas originally posted on FX Empire • Forex Daily Recap – Cable Took a Breather amid Brexit Showdown • USD/CAD Daily Forecast – 1.3345 on Target Ahead of BoC Rate Decision • S&P 500 Price Forecast – Stock markets gap lower to kick off week • Gold Price Prediction – Prices Close a Fresh 6-Year Highs • The Crypto Daily – The Movers and Shakers – 04/09/19 • Silver Price Forecast – Silver markets break out [Random Sample of Social Media Buzz (last 60 days)] system maintenance. || Thinking about hodling a candle lit vigil for this king https://t.co/xXRlDaf5fN || BTC 週足ベースでの大きな下落後のW底っぽい値動き形成中だけども一枚目黒丸の所下落に対しての上昇圧が弱すぎるかつ乱高下しながらの上昇で底固めも大してしてないので大きく上昇していくか疑問 ２、３枚目の４時間足では平行レンジともウェッジとも言える動きを形成中 https://t.co/J1XyI8WXIr || Top 5 Cryptocurrencies Prices ⬆️ $BTC: $10,343.49 | Bitcoin +0.25% ⬆️ $ETH: $179.64 | Ethereum +0.17% ⬆️ $XRP: $0.25443282 | XRP +0.00% ⬆️ $BCH: $297.58 | Bitcoin Cash +0.39% 🔻 $LTC: $69.02 | Litecoin -0.10% || Ripple Exec Bashes Libra – Calls Facebook’s Crypto a “Walled Garden” - https://t.co/gLRS1DO3yL #bitcoin #btc #bitcoinnews #blockchain https://t.co/q8JzN9h851 || The easiest way to buy and sell cryptocurrency in Asia - Multiple currency https://t.co/fq2k7dN6bC #BTC #ETH #XMR #DASH #XRP 13… || Has XRP bottomed? Crypto analysts weigh in https://t.co/PUehJHUSeD #ripple #ethereum #bitcoin #litecoin #ada #trx #xrp #eth #btc #btch #neo #tron #xlm #stellar #crypto $ripple $ada $xrp $eth $btc $btch $ltc $xlm $eos #libra #cardano #monero #BTC #BCH #XRP #LTC #ETH || @bitangler $BTC || Trademiner - Stocks - Futures - Forex - Seasonal Market Tre.. @1jl4com - Help - Twitter - News - Noticias - Bitcoin - CryptoCurrency - Forex https://t.co/X6ODohV7PR || Who is the smartest man in the history of crypto? $btc $eth $xrp $xlm $ren $link $wan $fuel
Trend: down || Prices: 8205.37, 8047.53, 8103.91, 7973.21, 7988.56, 8222.08, 8243.72, 8078.20, 7514.67, 7493.49
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 2015-11-06] BTC Price: 374.47, BTC RSI: 70.12 Gold Price: 1087.60, Gold RSI: 27.51 Oil Price: 44.29, Oil RSI: 43.92 [Random Sample of News (last 60 days)] October Treat: Junk Bonds and Gold ETFs Pop: The stock market rebound continued this week as the S&P 500 touched its highest level in nearly two months. TheSPDR S&P 500 (SPY | A-99)is now up 5.8 percent in October, a strong performance in a month that has historically been the second-worst of the year (after September). Gold & Silver Miners Dominate Jump On Monday, we highlighted thebest-performing exchange-traded funds of October. Those funds, comprising mostly copper and energy producers, are still doing well in the month. However, a new group of ETFs have bullied their way into the top 10: gold and silver miners. In fact, precious-metals-related funds now make up six of the top 10 positions for October, as can be seen from the table below. Top 10 ETF Of October [{"Ticker": "SILJ", "Fund": "PureFunds ISE Junior Silver (Small Cap Miners/Explorers)", "Return (%)": "27.86"}, {"Ticker": "COPX", "Fund": "Global X Copper Miners", "Return (%)": "25.61"}, {"Ticker": "PLTM", "Fund": "First Trust ISE Global Platinum", "Return (%)": "25.30"}, {"Ticker": "CU", "Fund": "First Trust ISE Global Copper", "Return (%)": "25.23"}, {"Ticker": "SLVP", "Fund": "iShares MSCI Global Silver Miners", "Return (%)": "25.07"}, {"Ticker": "SGDM", "Fund": "Sprott Gold Miners", "Return (%)": "24.04"}, {"Ticker": "KWT", "Fund": "Market Vectors Solar Energy", "Return (%)": "23.29"}, {"Ticker": "RING", "Fund": "iShares MSCI Global Gold Miners", "Return (%)": "23.28"}, {"Ticker": "GDX", "Fund": "Market Vectors Gold Miners", "Return (%)": "22.60"}, {"Ticker": "SIL", "Fund": "Global X Silver Miners", "Return (%)": "22.41"}] Considering the big jump in gold prices this month, the performance of these ETFs hasn't been surprising. The yellow metal hit the highest point since mid-June this week, leading theSPDR Gold Trust (GLD | A-100)to a gain of 5.7 percent in October. Miners tend to be much more volatile than the underlying metal, which explains their significant outperformance. Yet even as these ETFs rally, investors haven't been too keen on buying into them. None of the top 10 price performers saw significant inflows, and in fact, investors pulled out $429 million from theMarket Vectors Gold Miners ETF (GDX | C-79)during the first half of the month. Investors Buying BondsWhile ETF investors haven't been too enthusiastic about miners, they did show interest in gold itself. So far this month, GLD has attracted $483 million in inflows, putting it just outside the top 10 inflows list for the month. One salient theme that has emerged during October is the idea that the Federal Reserve will hold off on hiking interest rates this year due to global slowdown concerns and the recent string of weak U.S. economic data. That's propelled gold higher, as well as bonds. In fact, bonds are the asset class that's attracted the most capital this month. As can be seen from the table below, generated using theETF.com fund flows tool, a number of bond ETFs made the top 10 inflows list: Source: ETF.com Fund Flows Tool TheiShares 7-10 Year Treasury Bond ETF (IEF | A-51)was a big winner, with nearly $1 billion in inflows. To the extent that the Fed's overnight interest rate stays lower for longer, that puts pressure on the longer end of the yield curve as well (supporting bond prices). Even more popular than IEF were corporate bond ETFs like the SPDR BarclaysHigh Yield Bond ETF (JNK | B-68)and theiShares iBoxx $ Investment Grade Corporate Bond ETF (LQD | A-77). In addition to support from low interest rates, corporate bonds benefited from speculation that defaults may not be as high as feared. That's particularly true for the junk bond space, which was hammered in August and September, sending yields to their loftiest level since 2011. Investors may be seeing those yields as attractive now that the stock market has stabilized and the Fed looks to be on hold. In addition to the bond ETFs, other funds that saw notable inflows were the tech-heavyPowerShares QQQ (QQQ | A-66)and the large-capiShares Russell 1000 Value (IWD | A-90). In terms of sectors, investors liked theIndustrial Select SPDR (XLI | A-92)and theConsumer Discretionary Select SPDR (XLY | A-91). Contact Sumit Roy [email protected]. Recommended Stories • Gundlach: Sell Junk Bonds, Buy India • Bitcoin Rally Benefiting ETFs • NatGas Investing Not For Faint Of Heart • October Treat: Junk Bonds & Gold ETFs Pop • Twitter Chatter Packed In New Index Permalink| © Copyright 2015ETF.com.All rights reserved || MarilynJean Interactive (MJMI.QB) Today Announced It Has Entered Into Discussions to Acquire a Share of an Operating Bitcoin Exchange: HENDERSON, NV / ACCESSWIRE / October 30, 2015 / Owning and operating a Bitcoin exchange would allow MarilynJean to seamlessly integrate the currency conversion functions of both its planned remittance and gaming businesses as well as integrate directly with any Bitcoin ATM's the company installs. A Bitcoin exchange is the central component to a fully integrated transaction with an end user that involves both FIAT (traditional currency) and crypto-currency. A Bitcoin exchange works similarly to a stock exchange. A client deposits funds into an account and effects trades pursuant to buy (bid) or sell (ask) orders which the exchange software matches with orders from other users. Because both the buyer and seller must have the funds or Bitcoins in their accounts prior to the transaction being executed, both sides are protected. Users trade directly, as opposed to through brokers, communicating with the exchange through a standard web browser on a computer or mobile device via a secure connection. The exchange operator often takes a small transaction fee on each trade. While MarilynJean intends to trade through multiple exchanges, including major exchanges Bitstamp and Bitfinex, the reduced settlement times that are available as an exchange owner-operator provide significant advantages in international currency conversion and transfer transactions. Peter Janosi, MJMI's president said: "Being able to integrate the key verticals we are targeting, including remittance, gaming and ATMs with our own Bitcoin exchange has the potential to offer tremendous advantages to our company. We intend to trade through multiple exchanges simultaneously to ensure we offer our customers the best rates at the lowest prices. At the same time time, being able to route transactions through a completely integrated system that we monitor and control will allow us to offer even faster transaction processing and better customer service. We are very excited to be in discussions with a potential partner in the exchange space who shares our focus on security and scalability." Story continues About MJMI MJMI is in the business of providing safe and accessible services for the users of Bitcoin and other crypto-currencies. Crypto-currencies are a medium of exchange using cryptography to secure transactions and control the creation of new units. Bitcoin became the first decentralized crypto-currency in 2009. Crypto-currency is produced at a rate which is defined when the system is created and publicly known. By contrast, in centralized banking and economic systems, such as the Federal Reserve System, corporate boards or governments control the supply of currency by printing units or demanding additions to digital banking ledgers. However, neither companies nor governments can produce units of crypto-currency and as such the value of crypto-currencies are completely based on supply and demand, free from any governmental control. Many people believe crypto-currencies, and in particular bitcoin, hold the promise of being the most significant advancement in global finance in modern history. The advent of bitcoin creates a secure, easily accessible and transferable transnational currency that is completely liberated from political influence. MJMI is currently exploring partnerships in several verticals within the crypto-currency space, including the multi-billion dollar remittance market. Management believes that several industries, including both international remittances and online gambling are on the verge of being revolutionized by the use of Bitcoin to effect transactions. MarilynJean Media Interactive is among the first publicly traded companies focused on bitcoin and the crypto-currency space. The company's trading symbol is OCTQB: MJMI. Website: www.marilynjean.com Press Contact: bonnie@mari lynjean.com SOURCE: MarilynJean Media Interactive || DAN LOEB: These 5 fears have 'overwhelmed' the market: Dan Loeb (Reuters / Steve Markus) Daniel Loeb, founder and CEO of Third Point. Activist investor Daniel Loeb, the founder of Third Point, laid out five fears that have "overwhelmed" the market in his third-quarter investor letter: "A weakening China, where the new question is not whether but how severe the slowdown of the world's foremost growth machine will be. In August, we saw for the first time the limits of the Chinese government's ability to manipulate the economy as animal spirits triumphed over central planning. While the situation has stabilized somewhat since, the downside scenario for China seems more intimidating than ever before; "Janet Yellen may have inadvertently checked herself and the Fed into the Hotel California. It is increasingly difficult to see how the Fed can justify raising rates in 2015, particularly considering recent employment weakness in the U.S. (an unwelcome surprise) and similar softness in manufacturing figures. Unlike the concerns that weighed on the Committee earlier in the year — that a rate hike might damage the fragile environment outside of the U.S. — recent data undermining consensus U.S. growth assumptions requires different analysis. If the U.S. consumer is weaker than had previously been believed, the Fed needs to be careful not to push the world into a recession. Ms. Yellen cannot afford to get this wrong; "With 2016 looming on the horizon, market participants see some inexperienced, unserious candidates leading on the GOP side and economically unfriendly Democrats on the other. Republicans in the House are now also deeply divided and relying on Paul Ryan's leadership to pull them back from the brink. None of this increases market confidence; "The Middle East is in shambles; a situation spilling over increasingly into Europe with potentially far-reaching consequences for both regions; "Investors feel there is no longer a monetary safety net, as a tidal shift in fund flows from central banks has removed the 'Fed put', creating headwinds instead of tailwinds." Story continues Third Point fell 8.9% in the third quarter, while the S&P 500 fell 6.4%. Third Point was down 4.5% for the first nine months of the year, while the S&P fell 5.3% in that same period. As a group, activist investors — who take large positions in companies and agitate for shareholder-friendly changes — were among the most publicized losers in the third quarter, according to performance data from HSBC. Names such as Greenlight Capital, Glenview Capital, Pershing Square, and Marcato got bruised, according to HSBC. In the letter, dated October 30, Loeb noted that short selling has become more attractive. He currently has more single short names than longs in his portfolio. He still has significant positions in the fund's "highest conviction, event-rich names." "The conviction to keep and add to our core healthcare names during the sell-off enabled us to re-establish ourselves on positive footing this month," he wrote. NOW WATCH: Everyday phrases that even smart people say incorrectly More From Business Insider Bitcoin hit a new high for 2015 Wall Street is going to listen in to Bill Ackman defend his Valeant investment Valeant's largest shareholder: 'It hurts' || New York regulator issues license to Winkelvoss bitcoin venture: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Gemini Trust Company, founded by investors Tyler and Cameron Winklevoss, has been granted a license to operate as a chartered limited liability trust company by the New York State Department of Financial Services, the state regulator announced on Monday. Under the charter, Gemini will operate a bitcoin exchange and will officially open for trading on Thursday at 9:30 a.m. (1330 GMT)) serving both individual and institutional customers, Gemimi said in a separate statement on Monday. Bitcoin is a virtual currency bought and sold on a peer-to-peer network independent of central control. "In New York, we are continuing to move forward on licensing and chartering virtual currency firms," said Anthony J. Albanese, acting superintendent of Financial Services. "Smart, targeted regulation that helps protect consumers and prevent illicit activity is vital to the long-term future of this industry." Gemini is the first licensed crypto currency business for the Winklevoss brothers, best known for accusing Facebook Inc founder Mark Zuckerberg of stealing their idea. "Our focus right now is operating a spot bitcoin exchange. In many ways, we're not really re-inventing the wheel," said Gemini chief executive Tyler Winklevoss told Reuters in August. The Winklevoss brothers filed an application to operate as a trust company with the New York's banking regulator in July. A trust company is a type of financial institution technically different from a bank, analysts said. Under New York banking law, a trust company has all the powers of a bank to take deposits and make loans, alongside certain fiduciary powers such as acting as an agent for government bodies. As a limited liability trust company, Gemini will maintain significant capital reserves consistent with that of a premier fiduciary business, the company said. Gemini added that it will hold in custody all bitcoin deposits, the majority of which will be held in its offline, multi-signature, geographically distributed cold storage system. Gemini said all fiat currency such as U.S. dollars transferred to Gemini will be deposited in a New York state chartered bank, headquartered in midtown Manhattan, and eligible for Federal Deposit Insurance Corp insurance, subject to applicable limitations. It did not name the bank. 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. One bitcoin is currently worth around $238.17 on the BitStamp platform. (Reporting by Gertrude Chavez-Dreyfuss Editing by W Simon) || Bitcoin spikes 70% in a month; nobody knows why: Bitcoin (:BTC=) , the world's most popular digital currency, has been on a roll — but no one is really sure why. After dipping well below $200 in January, bitcoin traded at more than $410 Tuesday afternoon before cutting some of those gains, according to the CoinDesk Bitcoin Price Index. That's about 25 percent higher than the same time last year but well below the historical high of about $1,150. This upswing, which began about a month ago when bitcoin traded below $240, comes on the heels of a steady stream of good news for the digital asset and its associated ecosystem. But even with recent favorable regulatory rulings, press coverage and business investments, experts in the space are struggling to explain the one-month jump of more than 70 percent. For comparison, gold (CEC:Commodities Exchange Centre: @GC.1) is down about 5 percent on the year, and slightly negative on the month. Some have attributed the size of the recent jump to investors' fear of missing out (FOMO) , while others such as "Fast Money" trader Brian Kelly point to ecosystem headlines like the Winklevoss twins launching their exchange and the Digital Currency Group announcing funding from Bain and MasterCard ( MA ) . But bitcoin has boasted a steady parade of media highlights and major investments from important financial firms all year, so it's not immediately obvious why this past month would mark a turning point. Read More Why financial firms are investigating bitcoin tech Brendan O'Connor, the CEO of bitcoin trading firm Genesis Global Trading, told CNBC he has no easy answers about the price jump. Although he said rumors were flying around the community about international rings of traders teaming up to drive up the exchange rate, O'Connor was unable to confirm anything he'd heard. For its part, Genesis Global is experiencing a "dramatic increase in activity" from renewed interest in bitcoin as a tradable asset, O'Connor said. "When the price starts going up, people start coming out of the woodwork," he said. "We're setting new records almost on a daily basis for amount traded and number of transactions." Story continues Read More Bitcoin to be 6th largest reserve currency by 2030: Research It should be noted that bitcoin is a relatively illiquid market, so its exchange rate against major world currencies has been historically volatile. Still, O'Connor said volume from the Chinese bitcoin market has been "off the charts," so there may be a genuine upswing in interest from that region. In fact, Kelly suggested in a Tuesday note that Beijing's tightening of capital controls may have spurred some of the recent price gains. Additionally, many in the bitcoin community insist that the daily price of the cryptocurrency is not a relevant metric, as it distracts from the world-changing potential of the technology. Martindale tweet. Others worry that the cycle of mainstream media coverage on bitcoin's price will recreate a story they've seen before: Lopp tweet. More From CNBC Top News and Analysis Latest News Video Personal Finance || 10 things you need to know today: man on pig (https://pictures.reuters.com/C.aspx?VP3=SearchResult Farmer Zhang Xianping with pig Big Precious during an interview with the media in Zhangjiakou, Hebei province, China. Here is what you need to know. Volkswagen has another emissions scandal . The German automaker announced that an internal investigation had discovered "irregularities in CO2 levels" in as many as 800,000 vehicles. It is unclear whether the irregularities are related to the recently discovered emissions scandal related to nitrogen-oxide testing. " Under the ongoing review of all processes and workflows in connection with diesel engines it was established that the CO2 levels and thus the fuel consumption figures for some models were set too low during the CO2 certification process," Volkswagen said in a statement. "The majority of the vehicles concerned have diesel engines." Tesla is flying high after its latest outlook . Shares of Tesla were up 10% in after-hours trade after the company announced it expected to deliver 17,000 to 19,000 vehicles in the fourth quarter, outpacing the Wall Street consensus. For all of 2015, Tesla said it would deliver 50,000 to 52,000 vehicles, narrowing its range from its previous estimate of 50,000 to 55,000. On the earnings front, the electric-car maker lost $0.58 per share, which was slightly worse than the $0.56 loss that was anticipated. Revenue jumped 33.4% to $1.24 billion, in line with estimates. US auto sales are at the highest level in a decade . The latest Autodata showed US auto sales rose at an annualized pace of 18.24 million in October, the best in a decade. The number easily surpassed the Wall Street consensus of 17.7 million vehicles . Mazda (+35.4%) saw the biggest gains, while General Motors (+16%) and Ford (+13%) posted solid results. BMW USA (-6.6%) was the lone decliner. Honda is dumping Takata airbags . The AFP reports that Takata's largest client, Honda, has severed its relationship with the company after US authorities announced a $200 million fine against the airbag maker. Takata airbags have been linked to eight deaths and even more injuries around the world. "On a global basis, no new Honda and Acura models currently under development will be equipped with a front driver or passenger Takata airbag inflator," Honda said in a statement. Shares of Takata were down as much as 20% in Tokyo. Story continues Iceland raised rates . Iceland's central bank raised its benchmark interest rate 25 basis points to 5.75%. The central bank noted that domestic demand was expected to increase by more than 7% this year and that gross domestic product was forecast to grow at 4.6%. As for inflation, the central bank said: "It is still expected that large pay increases will cause inflation to rise above the target as 2016 progresses and the effects of low global inflation taper off. Inflation will not return to target until 2018." The Icelandic krona is weaker by 0.2% at 128.90 per dollar. European services data was strong . October Services PMI for the eurozone was released, and it showed that every country outpaced expectations except for Germany. Spain saw the biggest month-over-month increase, as its reading climbed from 54.6 in September to 55.9 in October and easily beat the 54.6 that was expected. Germany's number ticked up to 54.5 from 54.1 but missed the 55.2 that economists were expecting. The eurozone as a whole improved to 54.1 from 53.7. The euro is down 0.3% at 1.0935. Bitcoin has gone parabolic . On Tuesday, bitcoin rallied 10% to close just shy of the $400 mark. On Wednesday morning, bitcoin is up another 15% near $454. The digital currency has surged 89% since the beginning of October. Stock markets around the world are higher. China's Shanghai Composite (+4.3%) surged after the People's Bank of China released some dated comments from governor Zhou Xiaochuan. In Europe, Spain's IBEX (+1.2%) leads the gains. S&P 500 futures are higher by 2.75 points at 2,105.75. US economic data is moderate. ADP Employment Change is due out at 8:15 a.m. ET before the trade balance crosses the wires at 8:30 a.m. ET and ISM Services is released at 10 a.m. ET. Crude-oil inventories will be announced at 10:30 a.m. ET. The US 10-year yield is down 1 basis point at 2.20%. Earnings reporting remains heavy. 21st Century Fox, Allergan, CDW, Honda Motor, Michael Kors, and Time Warner highlight the names scheduled to release their quarterly results ahead of the opening bell. Facebook, Marathon Oil, MetLife, Prudential, Qualcomm, Sturm Ruger, and Whole Foods are among the companies reporting after markets close. NOW WATCH: Here's the Bill Cosby joke Eddie Murphy did at the Kennedy Center that everyone's talking about More From Business Insider 10 things you need to know today 10 things you need to know today 10 things you need to know today || Mission Accomplished -- CWC's Chris Dehring Departs: MIAMI, FL--(Marketwired - Sep 25, 2015) - Cable & Wireless Communications , Plc (CWC) announced today that Chris Dehring, Chairman of LIME Jamaica and a member of the senior executive team, has decided to return to the forays of entrepreneurship after six transformative years with the Company, effective September 30, 2015. "On behalf of the Board of Directors and the management and staff of C&W, I want to thank Chris for his outstanding contributions to our business during his time with the Company," said Phil Bentley, C&W's CEO. "Chris has been a key leader in our business, spearheading the largest market in the Caribbean for over six years as Chairman, and building a solid foundation to drive growth and profitability in one of our most important markets. His outstanding reputation throughout the Caribbean and strategic acumen proved invaluable to the success of the merger with Columbus and we thank him for his leadership, and wish him well in his future endeavours," said Bentley. "On a personal note, I'd like to thank Chris for working so closely and effectively with me on gaining the support across the Caribbean for the acquisition of Columbus -- this has been a game changer for C&W!" added Bentley. Chris, who has an outstanding track record in business across the region, orchestrated new emergency legislation and the historic regulatory rulings that redressed the anomalies in the Jamaican telecommunications market, paving the way for the company to grow its mobile subscriber base from just over 200k to 900k currently. He was instrumental in reviving the LIME brand (now Flow), and business with innovative marketing and innovations such as LIME Skool Aid which continues today. Considered a maverick among his peers, Chris played a key role in the regulatory approval negotiations across the region to facilitate the successful merger with Columbus International Inc. Commenting on his tenure, the affable Chairman and Senior Vice President for Government and Regulatory Affairs, said, "It was an honour to serve with so many outstanding colleagues at Cable & Wireless Communications and to be able to close this remarkable era of my career by playing such an integral role in finalising what undoubtedly is a transformational merger with Columbus. Similar to the regulatory obstacles we overcame in Jamaica, there were massive regulatory hurdles with the merger, but I'm delighted to have had the opportunity to leverage my expertise and be a part of a US$3 billion dollar transaction spanning 42 countries. Coupled with the turnaround and upward trajectory of C&W in Jamaica and the Caribbean, I feel like my mission has been accomplished and it is time to move on to my next adventure!" Story continues Prior to joining C&W, Chris earned a solid reputation in Jamaica and across the Caribbean as a marketing specialist and entrepreneur. He was one of the founders of Jamaica's first investment bank and the Caribbean's first sports television cable channel, and as Managing Director & CEO, led the region in staging its first global sporting event -- the ICC Cricket World Cup in 2007. 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 $2.4bn, 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 video services. It has leading market positions in Mobile, Fixed Line, Broadband and Video 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 7,000 employees serving over 6 million customers (Mobile 3.8m; Fixed Line 1.1m; TV 460k and Broadband 665k) 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 please visit: www.cwc.com Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=2894129 || What to Expect from Overstock.com's (OSTK) Q3 Earnings?: Overstock.com Inc. OSTK is expected to report third-quarter 2015 results after the closing bell on Oct 22.  Last quarter, the company posted a negative earnings surprise of 46.15%. Let us see how things are shaping up for this announcement. Factors to Consider Overstock’s second-quarter 2015 earnings of 7 cents missed the Zacks Consensus Estimate by a significant margin while revenues of $398 million beat the consensus mark of $387 million. Overstock, a Bitcoin supporter, hopes to reinvent the public stock market using cryptosecurities, or virtual stocks based on Bitcoin's blockchain technology. Bitcoin is a digital currency platform with no central regulating authority involved in the transactions. It is also called crypto currency because it utilizes military-grade cryptography to protect users against fraud. Bitcoin and other cryptocurencies operate on blockchain which is a distributed public ledger. Cryptosecurities will likely bring the next major change in the stock market. With the SpeedRoute deal, Overstock will enter a new financial technology space. SpeedRoute’s infrastructure and underlying technologies will help the company to connect t0 securities trading platform with the entire U.S. equity market. This will enhance transparency and efficiency of the existing capital markets, which was the basic idea behind t0.com. The blockchain technology allows investors and buyers to trail down their purchases and ownership of cryptosecurities, ensuring complete transparency. Moreover, the t0.com blockchain technology facilitates same-day settlement of the securities. In June, Overstock offered its first corporate bond, worth US$25 million, as cryptosecurities to qualified institutional investors. This revolutionary development is part of the company's larger cryptofinance initiative known as Medici. Stocks to Consider Here are some companies, which you may consider as our model shows that they have the right combination of elements to post an earnings beat this quarter: Here are some companies which you may consider instead, as our model shows they have the right combination of elements to post an earnings beat this quarter: Pandora Media, Inc. P with an Earnings ESP of +50.00% and a Zacks Rank #1 (Strong Buy). Anika Therapeutics Inc. ANIK, with an Earnings ESP of +2.94% and a Zacks Rank #1. SkyWest Inc. SKYW, with an Earnings ESP of +4.55% and a Zacks Rank #1. 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 SKYWEST INC (SKYW): Free Stock Analysis Report PANDORA MEDIA (P): Free Stock Analysis Report ANIKA THERAPEUT (ANIK): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research View comments || Bitcoin flounders in Australia as regulatory worries bite: By Byron Kaye and Swati Pandey SYDNEY (Reuters) - Australian businesses are turning their backs on bitcoin, as signs grow that the cryptocurrency's mainstream appeal is fading. Concerns about bitcoin's potential crime links mean many businesses have stopped accepting it, a trend accelerated by Australian banks' move last month to close the accounts of 13 of the country's 17 bitcoin exchanges. The development is a blow to hopes of bitcoin fans that the currency can play a significant role in everyday business transactions in developed economies, with Australia once seen as one of its most promising markets. It is estimated to hold 7 percent of the currency's $3.5 billion global value, a sizeable figure in a country of just 24 million people. "We've got a squeaky clean reputation, and that's actually worth a lot more to us than dipping into this," said James Snodgrass, principal of Sydney's Forsyth Real Estate, which ditched the currency in late 2014 after the firm was investigated by the federal tax office. Forsyth had offered to collect home deposits and other realtor fees via bitcoin to cater to international buyers. The tax office probe found no wrongdoing but Forsyth was burned by the negative publicity and bailed out before ever taking a bitcoin payment. Although most mainstream banks in Europe and the U.S. already refuse to keep bitcoin-affiliated accounts, developments in Australia represent the first coordinated shutdown of bitcoin exchanges by a country's banking system. The move makes it much harder for people to convert regular currencies in to or out of bitcoin, threatening its long-term value. "It really runs on people using bitcoin, and if nobody uses it then it's worthless," said University of Technology Sydney senior finance lecturer Adrian Lee. BANK SHUTDOWN The banks' shutdown appears at odds with a government inquiry which in August recommended removing sales tax for people who buy bitcoin. The Australian anti-money laundering agency, AUSTRAC, told Reuters that banks have no legal obligation to close bitcoin accounts. The so-called "Big Four" banks - Commonwealth Bank of Australia, Westpac Banking Corp, Australia and New Zealand Banking Group and National Australia Bank - directed inquiries about bitcoin to the Australian Bankers' Association. Tony Pearson, the association's acting chief executive, wouldn't confirm the coordinated rejection of bitcoin but said in an email that its "lack of transparency and regulatory oversight raises a number of risks for users and also poses risks for the payments system, the integrity of the financial system and the erosion of the tax base". Australia's organized crime agency has said it is concerned the currency's untraceable nature makes it attractive for money laundering and selling illicit drugs. In the U.K. and the U.S., most large banks have already cut ties with bitcoin account holders, but lack of industry co-ordination has left room for individual lenders to support the currency, including Germany's Fidor Bank AG, which operates in Britain, and tech-focused Californian lender Silicon Valley Bank. CLOSE, MOVE OFFSHORE OR SNEAK AROUND The 13 Australian bitcoin exchanges whose accounts were closed by the banks have shut operations. The remaining four have had their accounts frozen, and now face three options: close, move overseas or spread their business into several smaller bank accounts to avoid detection by their banks. Buyabitcoin.com.au, one of the remaining four exchanges, said it is still considering its options. "It makes it, obviously, hard to take payments from our customers, but we have a couple of relationships left," said Andrew Smith, general manager of the Melbourne-based exchange. Smith declined to identify which bank his firm is now using from fear of repercussions but said he plans to move the business offshore. Two sources told Reuters that regional lender Bank of Queensland still held some bitcoin accounts. The bank said in an email that "virtual currencies fall outside of our risk appetite" but did not deny or confirm it had these accounts. RETAIL PULLOUT Some industry watchers believe ambivalence may be bitcoin's biggest problem. At least six Australian retail businesses, which as recently as 2014 courted publicity for offering sales by bitcoin, told Reuters they were considering exiting the currency. "If governments begin to aggressively attack the whole idea of cryptocurrencies and give it a bad name, it might have an adverse effect on our brand by accepting it," said David Brim, co-founder of off-road vehicle maker Tomcar Australia, which has sold one car using bitcoin since introducing it in November 2014. Grant Fairweather, owner of the Metropolitan Hotel in Sydney, said he started accepting bitcoin when a group of digital currency fans chose his pub as their regular meeting venue. "They tell me that it's doing quite well, but that doesn't transpose into here," said Fairweather, who sells about A$100 ($70) worth of drinks via bitcoin from the meetings and does no other bitcoin trade. An online clothing retailer told Reuters she had made no bitcoin sales since introducing the service in 2013 and asked not to be named, saying "since bitcoin's going out anyway, we'd rather not throw our name back into it". (Additional reporting by Nathan Lynch in SYDNEY and Jemima Kelly in LONDON. Editing by Jane Wardell and Rachel Armstrong) || Small Businesses Turn To Online Lenders: The tech sector has reached into a new industry over the past year, as more firms rush to make loans to small businesses. Despite the U.S.'s recovery since the financial crisis, banks have been cautious about doling out small business loans. In 2008, banks held $711 in small business loans; that figure has decreased significantly to just $599 billion as of the second quarter of 2015. For that reason, there has been a gap in the marketplace as entrepreneurs look for ways to fund their growing companies. Lending To Well Known Firms While small business owners might be required to make a pitch to a bank or private investor in order to secure funding, some companies are using their existing relationships with entrepreneurs in order to make loans. Intuit Inc. (NASDAQ: INTU ) together with On Deck Capital Inc (NYSE: ONDK ) have launched a financing product that allows users of the firm's QuickBooks to secure small loans. Related Link: Intuit And OnDeck To Launch 0M Small Business Lending Fund The firm is able to use existing data from the user to determine how risky the loan would be, making it easier to deliver lower-rate loans for businesses with strong financials. Knowledge Is Power Other firms have created similar programs that use data gathered from customers in order to determine whether a loan is worthwhile. Online lender Kabbage Inc. has partnered with United Parcel Service, Inc. (NYSE: UPS ) to make loans using the firm's shipping history as a gauge of how many orders they're fulfilling. PayPal Holdings Inc (NASDAQ: PYPL ) similarly uses vendors' transaction history to determine whether a loan would be high-risk. High Interest Rates However, such loans can be difficult for small business owners to repay. As online lenders become plentiful, many are jockeying for clients by offering more money at higher rates. The ease of borrowing money online has also given rise to a slew of cash advance firms that are able to approve huge sums of money quickly, but charge annual percentage rates of more than 100 percent. Story continues Image Credit: Public Domain See more from Benzinga Logistics Firms Prepare For 3D Printing's Future The Biggest Losers From Monday's Market Meltdown Louis C.K. Embraces Bitcoin © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. [Random Sample of Social Media Buzz (last 60 days)] USD $: BTC_e:6.80 Hitbtc:257.80 Kraken:246.51 ANX:244.00 Bitcoin_de:220.00 ItBit:245.20 Local:292.83 TheRock:242.20 || 1 #bitcoin 737.98 TL, 255.259 $, 223.499 €, GBP, 15870.00 RUR, 30408 ¥, CNH, 318.38 CAD #btc || Current price: 229.8$ $BTCUSD $btc #bitcoin 2015-09-23 06:00:04 EDT || Current price: 225.65$ $BTCUSD $btc #bitcoin 2015-09-21 19:00:02 EDT || Current price: 244.16$ $BTCUSD $btc #bitcoin 2015-10-08 16:00:03 EDT || Current price: 151.59£ $BTCGBP $btc #bitcoin 2015-09-18 16:00:03 BST || Current price: 232.33$ $BTCUSD $btc #bitcoin 2015-09-18 08:00:01 EDT || Current price: 159.3£ $BTCGBP $btc #bitcoin 2015-10-10 09:00:08 BST || In the last 10 mins, there were arb opps spanning 15 exchange pair(s), yielding profits ranging between $0.00 and $56.54 #bitcoin #btc || #RDD / #BTC on the exchanges: Cryptsy: Error Bittrex: 0.00000004 Average $9.0E-6 per #reddcoin 20:00:01
Trend: down || Prices: 386.48, 373.37, 380.26, 336.82, 311.08, 338.15, 336.75, 332.91, 320.17, 330.75
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)] Bitcoin finds room in small funds; large institutions still on sidelines: By Gertrude Chavez-Dreyfuss NEW YORK, March 18 (Reuters) - Digital currency bitcoin has found favor among smaller investors, thanks to the availability of funds designed to invest in it, but remains a niche among the larger investing community. Investors at some family offices, smaller mutual funds, and traders at hedge funds say bitcoin has helped returns and demonstrated a low correlation with other asset classes. Hopes that bitcoin would become a broadly used alternative to other currencies helped buoy its price to more than $1,000 in December 2013, when its market capitalization was $13 billion. But the market cap has retreated since then, to about $6.4 billion as of Thursday. Early enthusiasts for the crypto-currency were drawn to its revolutionary ideals of transparency and a lack of central or official control. The risks of dealing in bitcoin were laid bare in 2013 when Tokyo-based exchange Mt Gox collapsed after admitting it had lost the equivalent of hundreds of millions of dollars of investor funds. The currency's earlier ties to gambling and criminal websites did not endear it to traditional investors. Jeremy Millar, founder and managing partner at Ledger Partners in London, estimated that 50 to 90 percent of bitcoin's current $6.4 billion market cap is held by near-institutional money such as individuals at hedge funds and family offices. That has not changed over the last two years. He does not have an estimate for institutional investment holdings of bitcoin. But he said they are likely to be insignificant, compared with the smaller investors who have fewer restrictions about fund allocation. "What is clear though is that over the last two years, bitcoin has emerged from its 'hacktivist' origins to a more institutionalized ecosystem which includes the participation of hedge funds, traders, and professional investors," said Millar. BITCOIN IN PORTFOLIOS Funds dedicated to investing in bitcoin are relatively small. The largest is the Pantera Bitcoin Fund, a $160 million hedge fund founded by Dan Morehead, formerly of Tiger Management, available to institutions and individuals who invest $50,000 or more. According to a Pantera Bitcoin Fund brochure, the fund was launched in July 2013, a period when bitcoin traded at around $65. On Thursday, it traded at $418.80, a gain of more than 500 percent from July 2013. The firm did not comment on fund performance or its investors. The majority of the Pantera Fund's investors are family offices and high net worth individuals, said two people familiar with the fund. The Grayscale Bitcoin Investment Trust, with assets of more than $60 million, is another vehicle for investors. GBTC is backed by bitcoin advocate Barry Silbert and his Digital Currency Group. Story continues It is the only publicly traded U.S. security in the over-the-counter market invested in bitcoin. Volume is thin, with a few thousand shares traded daily, according to Thomson Reuters data. Antonis Polemitis, managing director at Ledra Capital in New York, a family office specializing in education and technology, said that on average, clients have allocated 1 to 3 percent of their portfolios to bitcoin. "A lot of people will take that bet with 1 percent of their assets," he said. "A 1 percent loss does not change anyone's life in any way. If it goes up 10 times, then you get to feel very smart." Some investment managers say having bitcoin in portfolios has helped performance. ARK Invest, which manages four exchange-traded funds with $240 million in assets, holds GBTC in its $12 million Next Generation Internet ETF and the $7 million ARK Innovation ETF. Chris Burniske, analyst and blockchain products lead at ARK Invest in New York, said since investing in September 2015, GBTC has contributed 67 basis points to the Next Generation Internet ETF's return and 62 basis points to the ARK Innovation ETF. For 2015, the Next Generation ETF posted a 15.29 percent return, while the Innovation ETF had 3.76 percent gains. For Kingsbridge Wealth Management, a multifamily office in Las Vegas with $150 million in assets, GBTC has become a great diversifier because so far it has had a low correlation with other asset classes, said David Dunn, the firm's founder and chief investment officer. The firm has about $1.7 million invested in bitcoin and its underlying technology, the blockchain, Dunn said. (Editing by David Gaffen and Matthew Lewis) View comments || University of California notifies 80,000 of cyber attack: SAN FRANCISCO (Reuters) - Officials at the University of California Berkeley said on Friday that they were alerting 80,000 people, including current and former students, faculty and vendors of a cyber attack on a system that stores social security and bank account numbers. The news comes just more than a week after a Southern California hospital paid hackers $17,000 in the digital currency Bitcoin to regain control of their computer systems after a so-called "ransomware" attack. The San Francisco Bay Area university said there was no evidence that attackers actually took any personal information, but that it was still alerting the 80,000 individuals to be on the lookout for misuse of their information. The school said a hacker or hackers gained access to its financial management software in late December due to a security flaw present when the system is updating. Officials have notified law enforcement, including the FBI, and hired a private computer investigation company. The university said among the potentially affected are 57,000 current and former students; about 18,800 former and current employees; and 10,300 vendors who work with the school. Those figures come out to about half of the school's current students and two-thirds of its active employees. Large, high-profile organizations and businesses routinely come under cyber attack, and the school said it frequently identifies similar hacking attempts. "The security and privacy of the personal information provided to the university is of great importance to us," Paul Rivers, UC Berkeley's chief information security officer, said in a statement. "We regret that this occurred and have taken additional measures to better safeguard that information." The school said it was providing credit protection service free of charge to those potentially impacted. (Reporting by Curtis Skinner in San Francisco; Editing by Sharon Bernstein) || Soda and cigarettes? Momentum trades: Amid a wild year for stocks, "Fast Money" traders debated the merits of two names that have ticked higher despite volatility. Shares of Philip Morris International(NYSE: PM)and Coca-Cola(NYSE: KO)have climbed more than 3 and 1 percent on the year, respectively. The gains compare to a loss of nearly 6 percent for the S&P 500(INDEX: .SPX). Investors are "starved for yield" during a down year, and Coke may look appealing to some because of its dividend, trader Tim Seymour argued. He noted that awider strategy changemay also drive momentum for the stock. Coke shares ticked slightly higher Wednesday, closing at $43.49. If the stock breaks above $45 per share, it would make a stronger trade than at its current level, contended trader Guy Adami. For investors seeking dividends, Philip Morris also offers appeal, argued trader Brian Kelly. He said the company's dividend appears "safe," and the stock "held up very well" amid a downturn this year. Disclosures: Tim Seymour Tim Seymour is long AAPL, BAC, DO, F, FCX, GM, GOOGL, INTC, JCP, NKE, SINA, T, TWTR, VZ, XOM. Tim's firm is long BABA, BIDU, KO, MCD, PEP, SAVE, SBUX, VALE, WMT,YHOO, short HYG, IWM. Brian Kelly Brian Kelly is long BBRY, Bitcoin, GLD, SLV, TLT, US Dollar; he is short Aussie Dollar, British Pound, CS, DB, Euro, EWH, Hong Kong Dollar, UBS, SPY, Yuan. Karen Finerman Karen is long BAC, C, FL, GOOG, GOOGL, JPM, LYV, KORS, M, SEDG, SPY calls, URI, she is short SPY. Her firm is long ANTM, AAPL, BAC, C, C calls, FINL, FL, GOOG, GOOGL, JPM, KORS, LYV, M, MOH, NRF, PLCE, URI, her firm is short IWM, MDY, SPY. Karen Finerman is on the board of GrafTech International. Guy Adami Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck. 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For more information about us, please visit https://hashflare.io/r/CCF0028F-ETH Contact Info: Name: HashFlare Organization: HashFlare SOURCE: HashFlare View comments || Exclusive: Chinese hackers behind U.S. ransomware attacks - security firms: By Joseph Menn (Reuters) - Hackers using tactics and tools previously associated with Chinese government-supported computer network intrusions have joined the booming cyber crime industry of ransomware, four security firms that investigated attacks on U.S. companies said. Ransomware, which involves encrypting a target's computer files and then demanding payment to unlock them, has generally been considered the domain of run-of-the-mill cyber criminals. But executives of the security firms have seen a level of sophistication in at least a half dozen cases over the last three months akin to those used in state-sponsored attacks, including techniques to gain entry and move around the networks, as well as the software used to manage intrusions. “It is obviously a group of skilled of operators that have some amount of experience conducting intrusions,” said Phil Burdette, who heads an incident response team at Dell SecureWorks. Burdette said his team was called in on three cases in as many months where hackers spread ransomware after exploiting known vulnerabilities in application servers. From there, the hackers tricked more than 100 computers in each of the companies into installing the malicious programs. The victims included a transportation company and a technology firm that had 30 percent of its machines captured. Security firms Attack Research, InGuardians and G-C Partners, said they had separately investigated three other similar ransomware attacks since December. Although they cannot be positive, the companies concluded that all were the work of a known advanced threat group from China, Attack Research Chief Executive Val Smith told Reuters. The ransomware attacks have not previously been reported. None of the companies that were victims of the hackers agreed to be identified publicly. The security companies investigating the advanced ransomware intrusions have various theories about what is behind them, but they do not have proof and they have not come to any firm conclusions. Story continues Most of the theories flow from the possibility that the Chinese government has reduced its support for economic espionage, which it pledged to oppose in an agreement with the United States late last year. Some U.S. companies have reported a decline in Chinese hacking since the agreement. Smith said some government hackers or contractors could be out of work or with reduced work and looking to supplement their income via ransomware. It is also possible, Burdette said, that companies which had been penetrated for trade secrets or other reasons in the past were now being abandoned as China backs away, and that spies or their associates were taking as much as they could on the way out. In one of Dell’s cases, the means of access by the team spreading ransomware was established in 2013. The cyber security experts could not completely rule out more prosaic explanations, such as the possibility that ordinary criminals had improved their skills and bought tools previously used only by governments. Dell said that some of the malicious software had been associated by other security firms with a group dubbed Codoso, which has a record of years of attacks of interest to the Chinese government, including those on U.S. defense companies and sites that draw Chinese minorities. PAYMENT IN BITCOIN Ransomware has been around for years, spread by some of the same people that previously installed fake antivirus programs on home computers and badgered the victims into paying to remove imaginary threats. In the past two years, better encryption techniques have often made it impossible for victims to regain access to their files without cooperation from the hackers. Many ransomware payments are made in the virtual currency Bitcoin and remain secret, but institutions including a Los Angeles hospital have gone public about ransomware attacks. Ransomware operators generally set modest prices that many victims are willing to pay, and they usually do decrypt the files, which ensures that victims will post positively online about the transaction, making the next victims who research their predicament more willing to pay. Security software companies have warned that because the aggregate payoffs for ransomware gangs are increasing, more criminals will shift to it from credit card theft and other complicated scams. The involvement of more sophisticated hackers also promises to intensify the threat. InGuardians CEO Jimmy Alderson said one of the cases his company investigated appeared to have been launched with online credentials stolen six months earlier in a suspected espionage hack of the sort typically called an Advanced Persistent Threat, or APT. “The tactics of getting access to these networks are APT tactics, but instead of going further in to sit and listen stealthily, they are used for smash-and-grab,” Alderson said. (Reporting by Joseph Menn in San Francisco; editing by Jonathan Weber and Grant McCool) || Bitcoin Investing Improved Last Quarter: While Bitcoin may not have ended 2015 on a strong note, things could be turning around for the cryptocurrency. For example, Q4 was "surprisingly anemic," but the first quarter has seen $160 million in investments, according toMattermark, citing CoinDesk figures. "Bitcoin had its best fundraising quarter in a year," Mattermark's Alex Wilhelm said. "I'm not sure that the industry will ever beat the first quarter of 2015, when more than $200 million went into bitcoin firms, including huge sums into Coinbase and 21. Still, closing well north of the $100 million mark is a big step up from every other quarter recorded last year," Wilhelm commented. Related Link:10 Of This Year's Hottest Financial Buzzwords "In fact, it appears that the first quarter of 2016 was the second most active period in terms of total dollars raised for bitcoin firms in at least the last two years." Looking Ahead Based upon the transaction volume over the last year and the improvement over last quarter, it's probable that bitcoin may be making its way back into investors' favor. "In the last year, transaction volume across bitcoin – to pick a single metric – has roughly doubled. That's not the same pace of growth that the cryptocurrency saw in its infancy, but it is material," Wilhelm explained. "Combine that statistic with an increasingly stable price and continued investment and bitcoin look just fine." See more from Benzinga • Andrew Left Talked Mallinckrodt And Evergrande On Bloomberg This Morning • Twitter's NFL Deal Not A Huge Shock To PacCrest • Detroit News Auto Critic: Tesla Model 3 Is 'The Auto Story Of The 21st Century' © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || The Crisis in Bitcoin and the Rise of Blockchain: Remember the hype over bitcoin? The crypto-currency that so tantalized techies and excited investors is today in a sorry state: Its core supporters are at war with each other and ordinary consumersstilldon’t care about this supposedly revolutionary form of money. But that’s only half of the story. The other half is about the remarkable rise of blockchain, the core technology underlying bitcoin that is enjoying unprecedented adoption by banks and big business. This development--the fall of bitcoin and the rise of blockchain--has accelerated in recent months, and it has big implications for those who have sunk hundreds of millions of dollars into these technologies. Here’s the latest on the story of bitcoin, which has turned out far differently than many imagined. How We Got Here Flash back five years, the bitcoin scene was an exciting place to be. A motley mix of coders, libertarians, and get-rich-quick hucksters latched onto the promise of bitcoin founder Satoshi Nakamoto’s new distributed, tamper-proof money system and ledger run from millions of computers. The ledger provided an indelible record of near-anonymous financial transactions in offering a global payment platform to ordinary merchants, drug dealers, and everyone in between. The early bitcoin buzz soon exploded, and the currency’s value briefly soared to$1,200. The mainstream news media caught onto the story while venture capitalists lined up to fund any business with “bit” in its name. Meanwhile, businesses from Virgin Galactic to the NBA’s Sacramento Kings realized they could get a heap of free press just by announcing they would accept bitcoin. The currency never caught on, however. Despite all the startups offering wallets and other tools to popularize the payment technology, average consumers never took to bitcoin--even as they did adopt another person-to-person mobile payment platform, known as Venmo , in droves. So what happened? One problem is that bitcoin never shook its sordid side. While there is nothing intrinsically evil about bitcoin, its most famous adopters have always been a rogue’s gallery of fraudsters, prostitutes,dark web drug lords, andPonzi schemers. Even some members of bitcoin’s governing foundation, who sought to make the currency respectable, are on the lam orin jail. This rogue reputation certainly didn’t help bitcoin. But it wasn’t the crypto-currency’s biggest problem. Instead, the main reason bitcoin didn’t catch on is because it’s just not practical. Even if you can find merchants who accept it, the process involves exotic apps, currency transactions, and a verification process that takes minutes to get the okay. Compare that to swiping a credit card, and you see the problem. In recent months, bitcoin’s adoption problem has suddenly worsened. Meanwhile, big banks are finding they can use bitcoin’s best feature and leave the currency itself behind. Get Data Sheet,Fortune's technology newsletter. The Current Crisis and the Rise of Blockchain “Bitcoin’s nightmare scenario has come to pass,” reada headlinethis week from tech site, The Verge. That’s a pretty fair way to describe a recent schism within the bitcoin developer community--the collection of gnomes who decide on the protocols and computer code under the hood. The Verge report offers a good run-down of the technical specifics but, for present purposes, they can be summed up like this: the bitcoin community failed to agree on a system upgrade, which means the ledger’s infrastructure faces a growing backlog, and it now takes over 40 minutes to confirm a transaction. As a result, bitcoin is less practical than ever and merchants (the few who accepted it in the first place) are bolting. This schism deals a further blow to bitcoin’s hopes of ever becoming a mainstream currency. This is a setback for the bitcoin community, but here’s the kicker: it doesn’t really matter. That’s because the true value of bitcoin is not the currency itself. Instead, it’s the blockchain technology underneath it. Banks and other big businesses have already reaped the benefit of this technology. AsFortunereportedin December, IBM , Intel , JP Morgan , and several other big banks are betting on the blockchain’s ledger system. As with bitcoin, the system requires a set of diffuse computers to prove that a transaction has occurred. Once a confirmation occurs, it’s recorded in a common ledger and cannot be reversed. Why is this such a big deal? It has to do with record keeping. The idea of a tamper-proof ledger created by computers is so significant because it could let a number of industries--especially banking, brokerages, and law firms--overhaul the way they do business. Instead of relying on slow and cumbersome settlement systems to notarize and record documents, they can let a blockchain do it for them. “The clearing and settlement will be done in a matter of seconds. An efficiency comes with this that is a pretty significant force multiplier,” explains Jeff Garzick, a former bitcoin developer who recently launched a consultancy calledBloqthat advises banks and others how to deploy blockchain technology. Garzick and his partner Matt Rosack expect the financial industry will begin using the blockchain for stock and loan settlements as soon as the end of this year. Likewise, they think banks’ transactions at the discount window of the Federal Reserve will soon be recorded on a blockchain. And that’s just the beginning. Garzick and Rosack say the Big Four auditing firms will soon have a blockchain-based transaction feed that will be visible to regulators, who have been studying the potential of blockchain technology for years. The Future: Blockchain Without Bitcoin Even for those familiar with crypto-currency, it can be hard to get one’s head around just how the blockchain can operate without bitcoin. The reason is that bitcoin supplies the financial incentive for people around the world, known as miners, to operate the ledger in the first place. For more about bitcoin, watch our video: In return for devoting their computers to running the blockchain (which publishes the ledger), they receive a reward in the form of a bitcoin that can be spent online or exchanged for traditional currency. In the absence of such an incentive, how do the banks plan to develop the blockchain? The answer is they are building their own version of blockchain and running it themselves. As Garzick explains, this process involves taking the core protocol underlying bitcoin and then stripping off all the “mining” and compensation functions. He says the miners are an interesting way to creating a ledger, but they are not essential in the case of a “private chain,” like the one the banks are developing. “The mining is a really elegant software solution that equally distributes who is going to validate the next set of bitcoin transactions,” Garzick says. “A private chain replaces the entire trust-less aspect with a more private closed network of participants.” In practice, this will involve the banks rejecting a global federation of miners in favor of a handful of trusted verification partners within their own network--a processalready underway. For instance, a group of 15 banks might agree that the ledger becomes official once computers from seven group members agree to record a set of transactions. So what happens to bitcoin in this scenario? AsTheEconomistnoted in a recentfeature, it may become no more than a novelty or a historical curiosity. If this is the case, the venture capitalists who made big bets on consumer bitcoin startups like Coinbase andXapocould see a pool of wealth vanish. Ditto the U.S. government, which has seized a large pile of bitcoins in high-profile drug investigations. For now, that worst case scenario for bitcoin hasn’t come to pass yet. Despite the recent convulsions in the developer community, its price has heldfairly steadyaround $400 for months. It may find niche roles as a currency, such as for foreign remittances. Meanwhile, bitcoin still has defenders such as Jeremy Allaire, a successful entrepreneur who raised over $60 million for his startup, Circle, a money transfer service for consumers using bitcoin behind the scenes. Allaire says there is still time for bitcoin to break through in place of services like Venmo. “Venmo is another AOL--I don't want another walled garden. I want the Google of money,” Allaire said in a recent interview. “We've gone from a world where everyone is in denial about the tech and its usefulness. Now traditional financial institutes say, ‘We love the technology but we want to control it with our own private technology.’ That's not practical.” Other defenders include my former colleague atFortune, Dan Roberts, who said thebull caseoutstrips the bear case for bitcoin in 2016. Still, based on recent developments, a bitcoin resurgence looks like a long shot. When the final history of bitcoin is written, the currency itself is likely to be just a colorful footnote in the tale of the emergence of a powerful new blockchain technology. See original article on Fortune.com More from Fortune.com • This Could Kill the World's Most Popular Cryptocurrency • Securing the City of the Future with Bitcoin • Global Regulators Now Eyeing Fintech • Through Machine Learning, IBM Braintrust Sees Better Days Ahead • Here's Why Europe Is About to Crack Down on Bitcoin Anonymity || 'BLATANTLY ILLEGAL': 17 newspapers slam ex-Mozilla CEO's new ad-blocking browser: (Brave)Brendan Eich, CEO of Brave. A group of the biggest US newspaper publishers — including Dow Jones, The Washington Post, and The New York Times Co. — have cosigned what they are calling a "cease and desist" letter (read it in full below) sent to the former Mozilla CEO's new browser company. Brendan Eich's new browser, Brave,announced its launch early this year. The browser — available on iOS, Android, OS X, Windows, and Linux — has ad-blocking software baked into it, which blocks all ads by default and replaces them with its own ads that it says load quicker and"protect data sovereignty [and] anonymity"of users by blocking tracking pixels and cookies. With Brave, publishers get around 55% of revenues: 15% go to Brave, 15% go to the partner that serves the ads, and 10% to 15% goes back to the user, who can choose to make bitcoin donations to their favorite publishers in order to get an ad-free experience on their websites,Eich told Business Insider in January. But the 17 newspaper-publishing companies that cosigned the letter sent to Eich on Thursday say that this business model is "blatantly illegal" because they claim Brave is profiting from the "$5 billion" a year the industry spends on funding journalism. The publishers argue that Brave's advertising-replacement plan would constitute copyright infringement, a violation of the publishers' terms of use, unfair competition, unauthorized access to their sites, and a breach of contract. The letter compares Brave's business model to a company simply stealing their articles and pasting them on their own websites for profit. Eich provided a lengthy statement in response to the letter (which you can read in full below.) In it, he said: "The NAA sent a letter to Brave Software that is filled with false assertions. The NAA has fundamentally misunderstood Brave. Brave is the solution, not the enemy." Not only do the publishers "expressly decline to participate in any way in Brave's supposed business model," but they threaten that they are "ready to enforce all legal rights" to protect their trademarks and copyrighted content. The publishers, all of which are members of the Newspaper Association of America and together represent more than 1,200 newspapers in the US, threaten that they will seek damages of up to "$150,000 per work" that Brave monetizes. This isn't the first time Brave has drawn ire from the media and advertising community. In January, the CEO of the Interactive Advertising Bureau, Randall Rothenberg, ripped into Brave and other ad blockers in a speech at the US internet-advertising trade body's annual leadership conference. Of Brave, hesaid: The latest ad-blocking company is a Web browser startup called “Brave.” It was launched by former Mozilla CEO Brendan Eich, whose last major investment was in banning gay marriage in California. His business model not only strips advertisements from publishers’ pages — it replaces them with his own for-profit ads. THIS is the true face of ad blocking. It is the rich and self-righteous, who want to tell everyone else what they can and cannot read and watch and hear — self-proclaimed libertarians whose liberty involves denying freedom to everyone else. The ad-block profiteers are building for-profit companies whose business models are premised on impeding the movement of commercial, political, and public-service communication between and among producers and consumers. They offer to lift their toll gates for those wealthy enough to pay them off, or who submit to their demands that they constrict their freedom of speech to fit the shackles of their revenue schemes. They may attempt to dignify their practices with such politically correct phrases as “reasonable advertising,” “responsible advertising,” and “acceptable ads”; and they can claim as loudly as they want that they seek “constructive rapport” with other stakeholders. But in fact, they are engaged in the techniques of The Big Lie, declaring themselves the friends of those whose livelihoods they would destroy, and allies to those whose freedoms they would subvert. A Medianomics survey of 42 "high traffic" websites in the US published earlier this monthfound that 48% of respondents were "somewhat likely" and 36% were "definitely/very likely" to support taking collective legal action against ad-blocking companies. Dear Mr. Eich: Brave Software, Inc. (“Brave”), a company you founded, has announced that it intends to launch a browser and mobile applications that will display publishers’ content but replace publishers’ advertising with advertising that Brave sells for its own profit. You are hereby notified that Brave’s plan to replace our clients’ paid advertising content with its own advertising violates the law, and the undersigned publishers intend to fully enforce their rights. Your plan to use our content to sell your advertising is indistinguishable from a plan to steal our content to publish on your own website. Your public statements demonstrate clearly that you intend to harness and exploit the content of all the publishers on the Web to sell your own advertising. “We can provide access to all of the top publishers through a single channel with guaranteed ‘share of voice,’” Brave’s website claims. “This combination of better targeting and first-look access to all of the premium placements our users browse is something that no one else can provide.” There’s a simple reason “no one else” is purporting to “provide” all the content on the Web in one place for its own profit, without investing a penny in creating that content: everyone else has recognized that it would be blatantly illegal for one company to hijack all the content on the Web for its own benefit. We publish some of the most highly valued and widely read sites on the Web. Our sites and mobile applications provide news reporting, photojournalism, video content and feature writing that is researched, reported, edited, and produced at extraordinary cost. Our industry spends more than $5 billion per year on reporting in the United States alone. We distribute that reporting online for free or at highly subsidized rates, in no small part due to revenue from online ads. Your apparent plan to permit your customers to make Bitcoin “donations” to us, and for you to donate to us some unspecified percentage of revenue you receive from the sale of your ads on our sites, cannot begin to compensate us for the loss of our ability to fund our work by displaying our own advertising. We expressly decline to participate in any way in Brave’s supposed business model. We explicitly reject any compensation or consideration Brave plans to offer to us as part of its ad-blocking and ad-replacing scheme, and we refuse to accept any “site wallet” that you propose to create for our supposed benefit. In addition, you are not authorized to use our names, trademarks and logos in any way in connection with the promotion or operation of your business. We stand ready to enforce all legal rights to protect our trademarks and copyrighted content and to prevent you from deceiving consumers and unlawfully appropriating our work in the service of your business. Unauthorized republication of our copyrighted content to support Brave’s illegal advertising model violates protected rights of publishers under the Copyright Act and other laws. We reserve the right to seek all remedies for this infringement, including but not limited to statutory damages of up to $150,000 per work pursuant to 17 U.S.C. § 504. Brave’s use of publishers’ trademarks to sell its own advertising will confuse consumers, infringe upon publishers’ exclusive rights in their brands, and dilute our highly distinctive marks. We believe your planned activities will also constitute unfair competition and misappropriation under relevant federal, state and common law. Brave’s unauthorized activities involving our content and websites also violates our terms of use. By engaging in Brave’s plan of advertising replacement, Brave is liable for breach of contract, unauthorized access to our websites, unfair competition, and other causes of action. Very truly yours, ADVANCE LOCAL Vincent LaSpisa, Esq., Sabin, Bermant & Gould LLP, One World Trade Center, 44th Floor New York, New York 10007-2915 BH MEDIA GROUP Scott Searl, Esq., Senior Vice President and General Counsel, BH Media Group, 1314 Douglas Street, Suite 1500 Omaha, Nebraska 68102 CALKINS MEDIA INCORPORATED Sally A. Buckman, Esq., LermanSenter PLLC, 2001 L Street, N.W., Suite 400 Washington, D.C. 20036 DIGITAL FIRST MEDIA Marshall W. Anstandig, Esq., Senior Vice President and General Counsel, Digital First Media, 4 North 2nd Street, Suite 800 San Jose, California 95113 DOW JONES & COMPANY, INC., Jason P. Conti, Esq., Senior Vice President and Interim General Counsel, Dow Jones & Company, Inc., 1211 Ave of the Americas New York, New York 10036 GANNETT CO., INC., Barbara W. Wall, Esq., Senior Vice President, Chief Legal Officer, Gannett Co., Inc., 7950 Jones Branch Drive McLean, Virginia 22107 GATEHOUSE MEDIA/NEW MEDIA INVESTMENT GROUP, Polly Grunfeld Sack, Esq., Senior Vice President, General Counsel, GateHouse Media, 175 Sully’s Trail, 3rd Floor Pittsford, New York 14534 JOURNAL MEDIA GROUP, Hillary Ebach, Esq., Vice President and General Counsel, Journal Media Group, Inc., 333 W State Street Milwaukee, Wisconsin 53203 LANDMARK MEDIA ENTERPRISES, LLC, Guy R. Friddell, III, Esq., Executive Vice President and General Counsel, Landmark Media Enterprises, LLC, 150 Granby Street Norfolk, VA 23510 LEE ENTERPRISES INCORPORATED, Astrid Garcia, Esq., Lee Enterprises Incorporated, 201 N. Harrison St., Suite 600 Davenport, Iowa 52801 THE MCCLATCHY COMPANY, Juan Cornejo, Esq., Assistant General Counsel, The McClatchy Company, 2100 Q Street Sacramento, California 95816-6899 MORRIS PUBLISHING GROUP, LLC, J. Noel Schweers III, Esq., General Counsel, Morris Publishing Group, LLC, 725 Broad Street Augusta, Georgia 30901 THE NEW YORK TIMES COMPANY, Ken Richieri, Esq., Executive Vice President and General Counsel The New York Times Company, New York, New York 10018 NEWSDAY, LLC, Karen Au Claro, Esq., Senior Vice President, Law, Newsday, LLC, 235 Pinelawn Road Melville, New York 11747  SCHURZ COMMUNICATIONS, INC., John Smarrella, Esq., Barnes & Thornburg, LLP, 100 North Michigan Street South Bend, Indiana 46601-1632 TRIBUNE PUBLISHING COMPANY, Karen Flax, Esq., Vice President and Deputy General Counsel, Tribune Publishing Company, 435 North Michigan Avenue Chicago, Illinois 60611 THE WASHINGTON POST, Jay Kennedy, Esq., Vice President and General Counsel, The Washington Post, 1301 K Street, NW Washington, D.C. 20071 The NAA sent a letter to Brave Software that is filled with false assertions. The NAA has fundamentally misunderstood Brave. Brave is the solution, not the enemy. The NAA's letter to Brave Software asserts that any browser that blocks and replaces ads on the browser user's device performs "unauthorized republication" of Web content. This is false on its face, since browsers do not "republish", serve, syndicate, or distribute content across the Internet or to any computer other than the one on which they run. Browsers are the end-point for secure connections, the user agent that actually mediates and combines all the pieces of content, including third-party ads and first-party publisher news stories. Browsers can block, rearrange, mash-up and otherwise make use of any content from any source. If it were the case that Brave's browsers perform "republication", then so too does Safari's Reader mode, and the same goes for any ad-blocker-equipped browser, or the Links text-only browser, or screen readers for the visually impaired. The NAA letter also falsely asserts that Brave will share an "unspecified percentage of revenue", when our revenue share pie chart has been public and fixed from ourfirst preview release in January.We give the lion's share (pun intended), up to 70% of ad revenue, to websites, keeping only 15% for ourselves and paying 15% to our users. We sympathize with publishers concerned about the damage that pure ad blockers do to their ability to pay their bills via advertising revenue. However,this problem long pre-dates Brave. We categorically reject the claim that browsers perform "republication", and we repeat that Brave has a sound and systematic plan to financially reward publishers. We aim to outperform the invasive third-party ads that we block, with our better, fewer, and privacy-preserving ads. Finally, we note that malvertisement has gotten onto the websites of the New York Times and the BBC recently through the ill-designed, unregulated, and poorly-delegated third-party advertising technology ecosystem. Truly, this tracker-based ad-tech ecosystem is what is damaging the brand value of content publishers and driving users to adopt ad-blocking software. Brave blocks and replaces only third-party ads and trackers. Our system thus actually repairs the damage that publishers have carelessly allowed their ad partners (and partners' partners, to the seventh degree of separation) do to their trademarked brands and names. Make no mistake: this NAA letter is the first shot in a war on all ad-blockers, not just on Brave. Though theNAA never reached out to us, we would be happy to sit down with them for an opportunity to discuss how the Brave solution can be a win win. We will fight alongside all citizens of the Internet who deserve and demand a better deal than they are getting from today's increasingly abusive approach to Web advertising. More From Business Insider • Another ad blocker claims Adblock Plus used a trademark complaint to force it offline • A bunch of big US websites say they're likely to support legal action against ad blockers • 1 in 10 people in the US uses an ad blocker || Bitcoin Investing Improved Last Quarter: While Bitcoin may not have ended 2015 on a strong note, things could be turning around for the cryptocurrency. For example, Q4 was "surprisingly anemic," but the first quarter has seen $160 million in investments, according to Mattermark , citing CoinDesk figures. "Bitcoin had its best fundraising quarter in a year," Mattermark's Alex Wilhelm said. "I'm not sure that the industry will ever beat the first quarter of 2015, when more than $200 million went into bitcoin firms, including huge sums into Coinbase and 21. Still, closing well north of the $100 million mark is a big step up from every other quarter recorded last year," Wilhelm commented. Related Link: 10 Of This Year's Hottest Financial Buzzwords "In fact, it appears that the first quarter of 2016 was the second most active period in terms of total dollars raised for bitcoin firms in at least the last two years." Looking Ahead Based upon the transaction volume over the last year and the improvement over last quarter, it's probable that bitcoin may be making its way back into investors' favor. "In the last year, transaction volume across bitcoin – to pick a single metric – has roughly doubled. That's not the same pace of growth that the cryptocurrency saw in its infancy, but it is material," Wilhelm explained. "Combine that statistic with an increasingly stable price and continued investment and bitcoin look just fine." See more from Benzinga Andrew Left Talked Mallinckrodt And Evergrande On Bloomberg This Morning Twitter's NFL Deal Not A Huge Shock To PacCrest Detroit News Auto Critic: Tesla Model 3 Is 'The Auto Story Of The 21st Century' © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Your first trade for Friday: The " Fast Money " traders delivered their final trades of the day. Tim Seymour was a seller of the iShares MSCI Emerging Markets ETF (NYSE Arca: EEM) . Steve Grasso was a seller of Freeport-McMoRan ( FCX ) . Brian Kelly was a buyer of the iShares Silver Trust (NYSE Arca: SLV) . Guy Adami was a buyer of Coca-Cola ( KO ) for the second day in a row. Trader disclosure: On March 10, 2016, 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. Brian Kelly is long BBRY, Bitcoin, GLD, GLD puts, SH, SLV, TLT, US Dollar, UUP, Yen; he is short Aussie Dollar, BLK, British Pound, CS, DB, Euro, EWH, FRC, Hong Kong Dollar, UBS, SPY, Yuan, 5-Year Note Futures. Steve Grasso is long AAPL, BA, CC, DD, DIS, DECK, EVGN, KBH, MJNA, MU, OLN, PFE, PHM, T, TWTR, GDX sold BAC firm is long OXY, BP, CVX, RIG, FCX kids own EFA, EFG, EWJ, IJR, SPY. Tim Seymour is long AAPL, AVP, BAC, BBRY, DO, F, FCX, GM, GOOGL, INTC, JCP, NKE, SINA, T, TWTR, VZ, XOM. Tim's firm is long BABA, BIDU, CLF, KO, MCD, PEP, PF, SAVE, SBUX, VALE, WMT,YHOO, short HYG, IWM. More From CNBC Top News and Analysis Latest News Video Personal Finance [Random Sample of Social Media Buzz (last 60 days)] Cryptonator: $433.60707397/BTC - last trade of USD/BTC at https://www.cryptonator.com/  #bitcoin #BTC http://bitcoinautotrade.com  || Liquid Bitcoin || One Bitcoin now worth $428.85@bitstamp. High $430.00. Low $423.02. Market Cap $ 6.620 Billion #bitcoin pic.twitter.com/z86Q1c6HQj || Liquid Bitcoin || #Bitcoin Prices: Ripple:$347.86740437; Kraken:$395.94999; Bitstamp:$431.48; Btc-e:$432; http://BTC.re  || #bitcoinnews #bitcoin #bitcoinews #RedditBitcoin Reddit Live for Satoshi Roundtable… http://dlvr.it/KdM3nM  #bitcoins #bitnews #bitcointalk || おはようございます(*￣∇￣)ノ || Liquid Bitcoin || make_greatagain : The easiest way to get Bitcoin - http://ift.tt/1KOvXQt  || @WalkaTxsRanger for 10 BTC I'll hook you up
Trend: up || Prices: 428.59, 435.51, 441.39, 449.42, 445.74, 450.28, 458.55, 461.43, 466.09, 444.69
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 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. || 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) View comments || SolidX Reveals Plan to Launch a Bitcoin ETF: Earlier this week, blockchain technology provider SolidX revealed in a filing with the Securities and Exchange Commission (SEC) that is looking to launch an exchange traded fund based on the digital currency bitcoin. “According to the S-1 filing, the trust will issue shares that represent units of ownership in the trust, with SolidX Management LLC acting as the custodian of bitcoin held by the trust. Bank of New York Mellon, in turn, will act as the administrator of the trust and custodian for its cash holdings,” reports Pete Rizzo for CoinDesk. Related:Winkdex Bitcoin Index Debuts The filing from SolidX was revealed just days after it was reported that the Winklevoss Bitcoin Trust, the highly anticipated exchange traded fund sponsored by twin brothers Cameron and Tyler Winklevoss, when it comes to market, will trade on the Bats ETF Marketplace. It was previously expected that the Winklevoss Bitcoin Trust would trade on the Nasdaq. Trending on ETF Trends Grab Some Palladium Power With These ETFs A Bright Precious Metals ETF Outlook Investors: Don’t Overreact to Bearish Oil Calls Some Analysts See a New Oil Bull Market Cotton ETN Grows on Tightening Inventories Bitcoin is a type of decentralized digital currency based on a peer-to-peer network and can be exchanged through computers internationally without a financial intermediary. The system was first introduced by developer Satoshi Nakamoto in 2009. The SolidX bitcoin offering, assuming it comes to market, will trade on the New York Stock Exchange under the ticker XBTC and will provide bitcoin pricing via the TradeBlock XBX Index. “As noted by industry advocacy group Coin Center, a notable difference between the SolidX Bitcoin Trust and the competingWinklevoss Bitcoin Trustis that the former has secured insurance that would cover the loss or theft of bitcoins in the trust,” reports CoinDesk. Related:Winklevoss Bitcoin ETF Will List on BATS In February 2014, Winklevoss Capital launched the Winkdex, a bitcoin index that will eventually be used for a planned bitcoin ETF, “COIN,” which was first proposed in 2013 but is still waiting on regulatory approval. Click hereto read the full story on ETF Trends. || 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]. Recommended Stories • Behind The Wait For The Winklevoss Bitcoin ETF • The ETF As A Political Weapon • Aug. 24, 2015 Flash Crash Part Of Wall St. History • What The New Real Estate Sector Means For ETFs • ETF Asset Growth In 2016 Par For The Course Permalink| © Copyright 2016ETF.com.All rights reserved || 'Grumpy hold-outs' could sink Bitfinex recovery plan after Bitcoin theft: By Clare Baldwin HONG KONG (Reuters) - Crypto-currency exchange Bitfinex's plan to impose losses on all its trading clients for the theft by hackers of $72 million (55.7 million pounds) in Bitcoin rests on two flawed pillars, according to lawyers. The Hong Kong-based exchange said on Aug. 2 that hackers had stolen 119,756 bitcoins from some clients' accounts, the second-biggest such hack in dollar terms, and later said it would spread the losses across all its customers, whether or not they had been hacked or even held bitcoin. It said customers would forfeit 36 percent of their holdings and be given "BFX tokens" instead that could be redeemed by the exchange or converted to shares in its parent company iFinex. Both elements of the plan are open to legal challenge, lawyers said. Imposing losses on customers who were not hacked appears to go against the company's terms of service, said Ryan Straus, a Fenwick & West lawyer who advises financial technology companies on regulation and co-authored the U.S. chapter of a book on bitcoin law. The terms state "bitcoins in your multi-signature wallets belong to and are owned by you", which Straus said implied a special banking relationship with clients that the Bitfinex plan would breach. "The depository ... is obligated to return, on demand, the same monetary objects deposited," he said, quoting a line from his book. The exchange's tokens could also be problematic, said Zach Zweihorn, a lawyer at DavisPolk who specialises in U.S. securities and trading laws. The way they are currently being described - redeemable by the exchange or convertible to shares in iFinex - places them somewhere between a bond and a security and makes it highly likely that issuing them and trading them would require licences in the U.S. that Bitfinex doesn't have. "If they are issuing an equity interest in their parent company, I don't really think the fact that it's evidenced through an electronic token ... really changes the analysis of whether it's a security," said Zweihorn. Story continues The U.S. Securities and Exchange Commission did not return a request for comment. Bitfinex did not respond to requests for comment on either issue. "ROBBED" Bitfinex's website acknowledges there are "protocol level details" still to be worked out for the tokens, and that U.S. residents can sell but not buy them for the time being. "I feel like I was robbed," a 33 year-old investor who had a five-figure U.S. dollar amount on the platform told Reuters. He said he took a 36 percent "haircut" across all assets, including U.S. dollar reserves, and as a U.S. trader he couldn't properly deal in the IOU token. "Basically they took customers' funds in order to try to stay afloat. Nowhere in their terms of service did it mention that this was a possibility," said the user, who works in the financial services industry. Bitfinex is nevertheless hoping that traders will be patient and accept that they won't get a better deal if legal challenges force it into liquidation. "This is the closest approximation to what would happen in a liquidation context," it told traders in a blog post a week ago, while the tokens gave them some hope of ultimately recovering their losses. Traders will be aware of the fate of Tokyo-based crypto-currency exchange Mt Gox, which suffered the biggest bitcoin theft of all time in 2014, and consequently went bankrupt. Traders have not recovered any losses, and court proceedings are still ongoing. "People are afraid to see their assets completely frozen if they sue Bitfinex too early," said 28-year-old Nathan Bourgeois, who is based in France and moderates a 2,000-member traders' messaging group called Whaleclub under the username dr Helmut. He said he thought people would agree to the deal if there was a chance of getting some of their money back. But Patrick Murck, a fellow at Harvard University's Berkman Klein Center for Internet & Society, said the Bitfinex plan was unlikely to survive a legal challenge. "It might be a pyrrhic victory. You might still end up with less money," said Murck, who is also co-founder of the Bitcoin Foundation and its former general counsel, but the "odds are fairly low" that nobody will test it in court. "It takes one grumpy hold-out ... to blow the whole thing up,” he said. (Reporting by Clare Baldwin; Additional reporting by Hera Poon and Tris Pan; Editing by Will Waterman) || Silver ETFs Might be due for Pullbacks: The iShares Silver Trust ( SLV ) and ETFS Physical Silver Shares ( SIVR ) are among this year’s best-performing commodities exchange traded products, but with investors looking for safer assets following the Brexit outcome, some commodities market observers see silver as ripe for a near-term retreat. Silver and other precious metals enjoyed safe-haven demand as the equities market plunged into a correction. The metal also maintained its momentum as the Federal Reserve lowered its interest rate outlook to only two hikes this year from a previously expected four rate hikes. Additionally, with the dovish Fed stance, the U.S. dollar weakened, which made USD-denominated silver cheaper for foreign buyers and a better store of value for U.S. investors. Related: Analysis: Silver ETFs Are Outshining Gold Both SLV and SIVR are bullion-backed silver ETFs – the funds’ shares represent a physical holding in silver bars stored in London, U.K. bank vaults. Potential investors should be aware that physically backed ETFs are taxed as collectibles at a rate of 28% instead of long-term equity rate of 15%. On Monday, “we noted that a push higher would likely be difficult for the metal given resistance between the 17.80s and 18.00 vicinity. As it turned out, the third lower high was created at 17.86 before shoving back lower,” reports DailyFX. “It might not turn into a rout, but a clean undercut into the upper 17.50s on the hourly should lead to near-term weakness towards 17.30/25. If selling becomes aggressive then a move could develop into strong support between 17.07 and 17.13.” Trending on ETF Trends 11 Surging Silver ETFs as Two-Year High Looms A Gold Boon for these Glistening ETFs As Bank of England Mulls Rate Cuts, More Pound Punishment Likely As Q3 Begins, Gold Miner ETFs Keep Shining Winklevoss Bitcoin ETF Will Trade on BATS Looking ahead, total global installed photovoltaic power capacity is projected to increase by about 150% to 605 gigawatts by 2020, according to Bloomberg New Energy Finance. Story continues Related: Soaring Silver ETFs to Snap Up as Metals Shine However, increased technological efficiency has reduced the amount of silver required in newer solar panels. The amount of silver used in solar cells has been reduced by 5% to 6% every year. Nevertheless, Andreas Liebheit, head of the photovoltaic business at Heraeus, the German technology group, argued that the diminished requirements have been offset by growth in the overall market of 20% per year. “A convincing break of the top-side trend-line puts this view at risk, but again, as said yesterday, there isn’t much room for silver to run before running aground with resistance,” adds DailyFX. Traders looking to profit from silvers downside can consider the ProShares UltraShort Silver ETF ( ZSL ) For more information on the silver market, visit our silver category . iShares Silver Trust slv2 The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product. || LexisNexis Risk Solutions and start-up join to curb bitcoin money-laundering: (This August 2 story has been corrected to amend company name to LexisNexis Risk Solutions from LexisNexis) By Jemima Kelly LONDON (Reuters) - A company that provides banks with anti-money-laundering controls has teamed up with a bitcoin security firm to try to curb nefarious uses of the digital currency, such as drug trafficking and terrorism financing. LexisNexis Risk Solutions said the new service it has created with London-based startup Elliptic would bring bank-grade AML controls to bitcoin transactions, making the virtual currency more attractive to those who might want to use it for legitimate transactions LexisNexis Risk Solutions, part of multinational analytics firm RELX Group (REL.L), helps banks comply with AML regulation, using a database of 2.7 million global entities that could be involved in illicit transactions, such as those on sanctions and other watch-lists. It has shared that database with Elliptic, which monitors bitcoin transactions and can alert its clients - ranging from bitcoin exchanges to U.S. and European intelligence agencies - when money moves from bitcoin addresses that have been identified as bad actors. "This is a step toward making it (bitcoin) more mainstream and more acceptable," said Thomas Brown, of LexisNexis Risk Solutions. Bitcoin is a web-based digital currency that relies on complex algorithms to move money around quickly and anonymously with no need for a central authority to process transactions. That has made it attractive to a variety of users, including those who want to get around capital controls and those who support a currency that is free from government control for ideological reasons. But it has also attracted criminals, such as drug dealers and arms traffickers. "Today, if you see bitcoins transacting, you almost assume they're from someone who wants to be off the grid, or they're proceeds from illicit transactions," said Brown. Last month Elliptic said it was working with the Internet Watch Foundation to clamp down on the use of bitcoin for online child pornography. Story continues "The single biggest thing keeping mainstream financial services out of the (bitcoin) ecosystem is the inability to do bank-grade anti-money laundering controls," said Elliptic's head of business development, Kevin Beardsley. "The hope is that this will unlock a whole wave of companies being able to enter financial services with bitcoin." (Editing by Robin Pomeroy) || How Yellen’s Jackson Hole Speech Will Affect Popular ETF Plays: Federal Reserve Chairwoman Janet Yellen will give her much-anticipated Jackson Hole speech on Friday 10 a.m. Eastern, and depending on how dovish she seems, exchange traded funds on some of this year’s most popular plays may either continue to push higher or find an abrupt ceiling. Yellen has maintained a dovish stance throughout the year, and most observers anticipate the Fed chief will likely raise rates at least one time this year, maybe in December. Looking at the fed fund futures market, options traders place a roughly 50-to-50 percent change of a 25 basis point hike at the December meeting. If we continue to stay the course, the markets may enjoy a nice rebound in assets like gold and Treasuries, which have lost their way ahead of Yellen’s speech. For instance, the SPDR Gold Shares ( GLD ) , iShares Gold Trust ( IAU ) and ETFS Physical Swiss Gold Shares ( SGOL ) have declined about 1.6% over the past week, with Comex gold futures now trading at $1,325.5 per ounce. The VanEck Vectors Gold Miners ETF ( GDX ) dropped 11.2% and VanEck Vectors Junior Gold Miners ETF ( GDXJ ) declined 12.9% over the past week as gold prices pulled back. SEE MORE: Treasury Bond ETFs Strengthen Despite Hawkish Fed Comments Meanwhile, long-term Treasury bond ETFs have been stuck without direction after falling off from their highs in early July. Over the past week, the iShares 20+ Year Treasury Bond ETF ( TLT ) was up 0.3%, PIMCO 25+ Year Zero Coupon US Treasury ( ZROZ ) was flat and Vanguard Extended Duration Treasury ETF ( EDV ) was 0.4% higher. Alternatively, more aggressive traders may capitalize on a potential rally in these assets through leveraged ETF products, such as the DB Gold Double Long ETN ( DGP ) , which takes the double or 200% exposure of gold price movements, ProShares Ultra Gold ETF ( UGL ) , which also takes the 2x of gold prices, and VelocityShares 3x Long Gold ETN ( UGLD ) , which offers a larger 3x or 300% exposure to price movements. For long Treasuries exposure, the ProShares Ultra 20+ Year Treasury ( UBT ) takes the 2x or 200% daily performance of long-term Treasuries and Direxion Daily 20+ Year Treasury Bull 3x Shares ETF ( TMF ) follows the 3x or 300% performance of long-term Treasuries. Story continues Trending on ETF Trends The Unintended Consequences From the DOL Fiduciary Rule From Intern to Employee: Considering Long-Term Financial Plans The Complete Guide to Technology for New Advisors Bitcoin: A Significantly Investable Asset Creative Destruction is Key to Revolutionize Your Business, Life However, the biggest concern many market participants are sweating over is a potentially more hawkish-than-expected stance Yellen might take in Jackson Hole, Wyoming. If Yellen suggests a quickening interest rate normalization time table, the U.S. dollar would strengthen, which would weigh on commodities like gold, and push up yields Treasuries or weigh on bond prices. Consequently, investors may look at PowerShares DB U.S. Dollar Index Bullish Fund ( UUP ) , which tracks the price movement of the U.S. dollar against a basket of currencies, including the euro, Japanese yen, British pound, Canadian dollar, Swedish krona and Swiss franc. Gold would be less attractive in a rising rate environment as the hard asset does not offer a yield and it will be pressured by a rising dollar. Traders may consider short or inverse gold ETF options to hedge against a potential turn. For instance, the ProShares UltraShort Gold ( GLL ) provides a two times inverse or -200% daily performance of gold bullion. Alternatively, ETN options include the DB Gold Double Short ETN ( DZZ ) , which tries to generate the twice inverse or -200% return of the daily performance of gold; DB Gold Short ETN ( DGZ ) , which tries to reflect the inverse of gold price movements; and VelocityShares 3x Inverse Gold ETN ( DGLD ) , which tries to reflect the performance of three times the inverse or -300% daily performance. Additionally, investors can look to hedge bets against gold miners with bearish options like the Direxion Daily Gold Miners Bear 3X Shares ( DUST ) , the Direxion Daily Junior Gold Miners Index Bear 3X Shares ( JDST ) , ProShares UltraShort Gold Miners ( GDXS ) and ProShares UltraShort Junior Miners ( GDJS ) . The Direxion options take the -300% exposure to large miners and junior miners, respectively, while the ProShares options take the -200% exposure to large miners and junior miners, respectively. SEE MORE: Yellen Cements Low Rate Theme, Off-Beat ETFs To Consider Lastly, to hedge against falling Treasury bond prices, the ProShares Ultra 20+ Year Treasury ( UBT ) takes the 2x or 200% daily performance of long-term Treasuries and the Direxion Daily 20+ Year Treasury Bull 3x Shares ETF ( TMF ) follows the 3x or 300% performance of long-term Treasuries. While these types of leveraged and inverse ETFs may help traders capitalize on short-term moves, investors should be aware of the risks of investing in these geared products over the long haul and during periods of heightened volatility. Full disclosure: Tom Lydon’s clients own shares of GLD, GDX. The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product. || WRIT Media Group Develops Additional Strategies for Newly Acquired Pelecoin Digital Currency Technology: LOS ANGELES, CA--(Marketwired - Jun 29, 2016) - WRIT Media Group, Inc. (OTCQB:WRIT) is pleased to announce plans to develop Pelecoin's Blockchain technology into innovative products and applications that can be used for video game loyalty rewards, crowd funding, currency trading, and secure content distribution. WRIT Media Group's Pelecoin digital currency, acquired through its recent Pandora Venture Capital transaction, is a unique cryptocurrency platform that provides secure digital currency products and services -- including wallets, exchanges, loyalty rewards and merchant integration -- to consumers and businesses around the globe. The open and distributed nature of the "record keeping" in Pelecoin transactions ensures that evidence of ownership is reliable and that the reporting of transactions is verifiable and secure. The Company intends to develop this technology into the following products and applications: Currency & Derivative Trading WRIT Media Group plans to organize trade in derivative instruments, based on its existing Pelecoin technology, Bitcoin, and other digital currencies. The Company intends to combine the marketing advantages of Pelecoin with popular cryptocurrencies such as Bitcoin, by developing its exchange platform technologies to support trade in digital currencies. The platform plans to offer a full system to run a digital currency exchanges, including a solution for automatic market-making on exchange using third-party exchanges. When launched, the platform will work with Pelecoin, Bitcoin and other digital currency exchanges around the world. Video Game Loyalty Rewards WRIT Media Group intends to develop and deliver loyalty solutions built on the combination of Pelecoin's Blockchain technology and the Company's Amiga Games brand. Gamers can earn various points by playing Amiga Games or participating in other "value" activities. The earned points consolidate into AmigaRewards or other branded rewards, which will be tradable Blockchain-based loyalty tokens. The Company also plans to develop a suite of solutions which will allow brands to create and run rewards programs, as well as a marketplace to shop and redeem those reward points. Crowd Funding Crowdfunding and peer-to-peer lending have allowed retail investors to access asset classes and investment opportunities previously unavailable for them. The Company intends to develop a Pelecoin-based system where small amounts of equity can be attained without significant amounts of red tape, and where efficient record keeping of a high volume of shareholders and trades provides significant value to investors and companies alike.Secure Content The Company also plans to partner with leading content creators, owners, distributors and other creative institutions to enable artists and content owners to protect their works from copyright infringement and illicit uses by developing tracking software which uses its proprietary Pelecoin Blockchain technology. About Writ Media GroupWRIT Media Group, Inc. (OTCQB:WRIT) is a diversified media and software company whose operations include content production and distribution; video game distribution via mobile platforms; and digital currency software development, including trading platforms and Blockchain solutions. The Company's portfolio of wholly owned businesses includes: • Front Row Networks, a content creation company which produces, acquires and distributes live event programming for worldwide digital broadcast into digitally enabled movie theaters and online streaming; • Amiga Games, a software company resurrecting the Amiga brand by publishing retro video games on smartphones, tablets and consoles; • Retro Infinity, Inc., a video game distribution portal which publishes video games from Amiga, Atari and other "retro" brands on today's smartphones, tablets and consoles; and • Pandora Venture Capital, a software developer with a focus on digital currency technologies, including; a cryptocurrency trading platform, a new generation of cryptocurrency, and Blockchain technology solutions. Cautionary Note Regarding Forward-Looking StatementsExcept for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those predicted by such forward-looking statements.Investors are cautioned that all forward-looking statements involve risks and uncertainties, including, but not limited to, those discussed in WRIT Media Group's latest 10-Q filed December 31, 2015. The company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. Pandora Venture Capital Corp., Pelecoin and its related trademarks and names are the property of WRIT Media Group, Inc. and are registered and/or used in the U.S. and countries around the world. All rights reserved. All other trademarks belong to their respective owners. || Direxion Adds News ETFs, Reverse Splits 4 ETFs, Forward Splits 5 ETFs: Direxion, the second-largest issuer of inverse and leveraged exchange traded funds, announced Wednesday it has added two new ETFs to its existing lineup of leveraged and inverse ETFs. The Direxion Daily European Financials Bull 2X Shares (Ticker: EUFL) seeks to achieve 200% of the daily performance of the MSCI Europe Financials Index. Meanwhile, The Direxion Daily Gold Miners Index Bear 1X Shares (Ticker: MELT) seeks to achieve 100% of the inverse of the daily performance of the NYSE Arca Gold Miners Index. Sylvia Jablonski, Managing Director at Direxion, said the company had recently seen instability in European markets, with the post-Brexit effect yet to subside as political and economic uncertainties remain. “The launch of the European Financials leveraged ETF is timely, as market reaction to the EU situation presents the chance for bullish traders to magnify their short-term perspective,” Jablonski said. “Our new Gold Miners bear ETF will complement the existing suite of ETFs tracking that space, to give traders another option for taking advantage of short-term opportunities.” Direxion Announces Reverse and Forward Share Splits of Nine Leveraged ETFs Direxion also announced it will execute reverse share splits for four of its leveraged exchange-traded funds, as well as forward share splits for another five leveraged ETFs. The total market value of the shares outstanding will not be affected as a result of these splits, except with respect to the redemption of fractional shares, as outlined below. Four Reverse Splits Direxion will execute a 1-for-4 reverse split of the Direxion Daily Natural Gas Related Bear 3X Shares (GASX) . The firm will also execute a 1-for-5 reverse split of the Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 3X Shares (DRIP) , Direxion Daily Gold Miners Index Bear 3X Shares (DUST) and Direxion Daily Junior Gold Miners Index Bear 3X Shares (JDST) . The splits are effective at the open of the market on Aug. 25, 2016. A summary of the four ETFs undergoing reverse splits is as follows (please note the CUSIP changes, effective Aug. 25, 2016): As a result of this reverse split, every four or five shares of a Fund will be exchanged for one share as indicated in the table above. Accordingly, the total number of the issued and outstanding shares for the Funds will decrease by the approximate percentage indicated above. In addition, the per share net asset value (“NAV”) and next day’s opening market price will be approximately four- or five-times higher for the Funds. Shares of the Funds will begin trading on the NYSE Arca, Inc. (the “NYSE Arca”) on a split-adjusted basis on Aug. 25, 2016. The next day’s opening market value of the Funds’ issued and outstanding shares, and thus a shareholder’s investment value, will not be affected by the reverse split. Trending on ETF Trends Nasdaq Adds Big Q2 Haul of New ETP Listings, Switches ARK Launches ETF Solely Focused on 3D Printing SolidX Reveals Plan to Launch a Bitcoin ETF A Big Day for ETFs as 5 Sponsors Launch New Products O’Leary’s O’Shares Seeks Big Additions to its ETF Lineup Five Forward Splits Additionally, Direxion will execute forward splits of the Direxion Daily Brazil Bull 3X Shares (BRZU) , Direxion Daily Real Estate Bull 3X Shares (DRN) , Direxion Daily 20+ Treasury Bull 3X Shares (TMF) , Direxion Daily Gold Miners Index Bull 3X Shares (NUGT) and the Direxion Daily Junior Gold Miners Index Bull 3X Shares (JNUG) . After the close of the markets on Aug. 24, 2016 (the “Payable Date”), each Fund will affect a split of its issued and outstanding shares as follows: As a result of these share splits, shareholders of each Fund will receive an additional four, five or 10 shares for each share held of the applicable Fund as indicated in the table above. Accordingly, the number of each Fund’s issued and outstanding shares will increase by the approximate percentage indicated above. All share splits will apply to shareholders of record as of the close of NYSE Arca, Inc. (the “NYSE Arca”) on Aug. 23, 2016 (the “Record Date”), payable after the close of the NYSE Arca on the Payable Date. Shares of the Funds will begin trading on the NYSE Arca on a split-adjusted basis on Aug. 25. 2016 (the “Ex-Date”). Related:Direxion’s New Bearish Junk Bond ETF to Hedge Market Risks On the Ex-Date, the opening market value of each Fund’s issued and outstanding shares, and thus a shareholder’s investment value, will not be affected by the share split. However, the per share net asset value (“NAV”) and opening market price on the Ex-Date will be approximately one-fourth, one-fifth or one-tenth for the Funds. The tables below illustrate the effect of a hypothetical 4-for-1, 5-for-1 and 10-for-1 split on a shareholder’s investment. Click hereto read the full story on ETF Trends. The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product. [Random Sample of Social Media Buzz (last 60 days)] #bitcoin #miner Used Bitcoin Miner $250.00 http://ift.tt/2bn2R13 pic.twitter.com/qlMLn2cbrv || $693.00 at 17:45 UTC [24h Range: $667.83 - $701.76 Volume: 5399 BTC] || One Bitcoin now worth $574.00@bitstamp. High $580.22. Low $530.08. Market Cap $9.066 Billion #bitcoin || The latest Bitcoin Price Index is 664.34 USD https://t.co/lzUu2wyPQN https://t.co/c8wXQYYOaK || 1 KOBO = 0.00000997 BTC = 0.0067 USD = 1.9631 NGN = 0.0956 ZAR = 0.6797 KES #Kobocoin 2016-07-20 13:00 pic.twitter.com/ICLuxHU3LN || $ 0.005698 (-2.59 %) 0.00000999 BTC (-0.00 %) #WHIPPED #FETISH #BDSM || ⌂ .01 Bitcoin (.01 BTC) - Mining Contract http://ebay.to/1rlpg66 pic.twitter.com/R4SavyAASW || $644.18 at 13:00 UTC [24h Range: $636.80 - $659.60 Volume: 3243 BTC] || #TrinityCoin #TTY $ 0.000007 (-0.25 %) 0.00000001 BTC (-0.00 %) || #ChainCoin #CHC $ 0.000180 (-0.18 %) 0.00000031 BTC (-0.00 %)
Trend: up || Prices: 573.91, 574.11, 577.50, 575.47, 572.30, 575.54, 598.21, 608.63, 606.59, 610.44
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 2018-06-06] BTC Price: 7653.98, BTC RSI: 44.09 Gold Price: 1297.10, Gold RSI: 44.11 Oil Price: 64.73, Oil RSI: 35.59 [Random Sample of News (last 60 days)] How Much Does It Cost to Open a Food Truck?: Starting a food trucksmall businesshas made the dream of striking out on their own attainable for so many chefs, and would-be chefs. The costs of opening a food truck can vary from a few thousand dollars to well into six figures. There's no definitive answer to the question, "How much does it cost to open a food truck?" Instead, you'll face range of expenses, which you can add up to determine the cost of the food truck business you want to open. Opening a food truck requires significant capital, but costs can vary greatly. Image source: Getty Images. Costs vary based on a lot of factors, including the size of your truck, local permitting requirements, and equipment needs. You must also factor in how often your truck moves, and whether you rent the lot where you operate it or pay to park it overnight. "When starting a mobile operation, costs are going to vary (just like for any restaurant), but you can expect to pay between $28,000 and $114,000," according to the small-business websiteShopkeep.com. That's a very wide range and, frankly, it's really only a guess; how much you spend depends on what type of food truck you want, how resourceful you are, and a host of other factors. Setting aside ongoing costs like salaries and gas, these are the expenses you're likely to incur just to get your business off the ground: • A truck: You can't be in the food truck business without a truck, and this expense will likely have the widest range of cost possibilities. Some food trucks are box trucks that have been cleverly retrofitted, or even repurposed ice cream trucks or school buses. If you're handy or have access to people who are, you can piece together your own truck, instead of buying one that's ready to go. It's possible to buy an old box truck (truck rental companies often have them on sale) for a couple of thousand dollars and outfit it as a food truck for a few thousand more. • Licensing: Local permitting costs will vary, but assume at least $500 for various business licenses. This is a prime subject to discuss with people already operating in your market because it varies by city and state. • A CDL: If your truck weighs over 26,000 pounds, you will need a commercial driver's license to operate it. The actual license only costs between $100 and $300, but going to school to learn how to pass the test will cost between $2,000 and $3,000 (which may explain why most food trucks are below the weight limit). • Insurance:It makes sense to talk to a professional about this. You will not only need insurance for driving the vehicle, but also business insurance (in case someone gets sick or hurt) and insurance for theft or property damage. • Equipment: If you buy a truck already outfitted, this may not be a factor. But you will have to figure the cost of stoves, ovens, refrigeration, prep sinks, blenders, coffeemakers, and anything else you might need to prepare the items on your planned menu. • Food start-up costs: This depends upon your menu, but you should factor in how many customers you expect to serve and whether you need to rent a place to keep inventory. (Remember that the cost of the food should be roughly 28% to 35% of the price you plan to sell it for if you hope to make a profit.) • Parking: Some food trucks occupy a permanent spot and never leave. Others roam around or set up at festivals and other events. Do your homework so you can budget for the costs associated with whatever you intend to do. In addition, realize that your truck will need to be someplace at night, and many residential areas don't allow overnight parking of commercial vehicles. • Emergency fund:You are starting a new business. Things will go wrong and expenses will come up. Try to budget at least 15% of your total planned expenses to handle these emergencies. While a food truck seems like an easy way to get into the restaurant business, it requires plenty of planning and smart preparation. Don't buy a food truck on a whim because you see a used one listed at a low price. Consider that listing a warning: Someone is showing you that this is not an easy space to enter. Indeed, many people get into the food truck business only to find that they made a mistake. Write a formalbusiness planand go over it with food truck operators who are succeeding where you hope to operate. Know as much as you can going in, and then you can look for that great deal on a truck. 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 adisclosure policy. || 6 Surprising Ways Consumers Are Using Cryptocurrencies: The hype surrounding bitcoin may have faded, but cryptocurrencies are still popular among digital cash enthusiasts. In fact, you could trade your money in for not only bitcoin, but also litecoin, ethereum , ripple and monero, just to name a few cryptocurrencies. And while you hear a lot in the news about investing in cryptocurrencies , not everyone uses the digital currency as an investment. In fact, there are some unexpected ways that consumers are using these digital assets. Here's a look at six ways people are leveraging crytocurrencies -- beyond building their wealth . [See: 10 Foolproof Ways to Reach Your Money Goals .] 1. Gambling. "One of the most unique ways I've seen people using cryptocurrency is on decentralized betting. Cryptocup is a betting pool that uses the ethereum blockchain to collect, manage and distribute the earnings all without a central bank or point of failure," says Chris Castiglione, an adjunct professor at Columbia University in New York City. Castiglione teaches a course about blockchain -- a revolutionary technology that allows financial transactions or anything of value to be recorded -- and a bitcoin and ethereum course online. Castiglione says that in the history of the internet, there are often innovations in the seedier sides of life, such as gambling and adult entertainment. "Cryptocup reminds me of that, being that it's one of the first betting pools on the blockchain that seems to be gathering some attention," he says. 2. Charitable donations. Patrick Gray, founder and CEO of HashChain Technology, a global blockchain technology company based out of Vancouver, Canada, says that many people are donating their cryptocurrencies to charities around the world . "For example, Fidelity Charitable revealed earlier this year that it had received $69 million in cryptocurrency donations in 2017 alone. More and more nonprofits and charitable organizations have started accepting digital currency as a way to tap into investors who want to do more good with their money," Gray says. Story continues And that's just the start. Earlier this month, ripple, a startup cryptocurrency, donated $29 million in ripple to thousands of teachers with requests at the crowdfunding website, DonorsChoose.org, fulfilling 35,647 requests from 28,210 teachers at 16,561 public schools across the country. [Read: What's the Best Bitcoin Wallet for 2018? ] 3. To conceal money in divorce. Briggs Stahl, a partner with RGL Forensics, a financial investigation firm in Tampa Bay, Florida, says that he has run into this a couple times, where a spouse tried to hide money in a divorce by transforming cash into bitcoin . "It's the latest technology advance in hiding money," Stahl says. "We used to just see gift card purchases, credit card prepayments or just removal of cash that could not be traced. Now we are seeing this." Given that cryptocurrency can go down in value, you may wonder if a person is taking a big chance by hiding assets in this way. "Yes, it is a big risk ," Stahl says. 4. To protect themselves against hyperinflation. "The most unusual way I am seeing cryptocurrency used is as a fail-safe against hyperinflation. In countries like Zimbabwe and Venezuela, everyday citizens are buying crypto simply to protect themselves from poverty if their fiat currency takes a nosedive," says Dean Anastos, a New York City-based founder and CEO of Blockchain Developers. The company specializes in solutions for token creation and smart contracts on the ethereum blockchain, a software platform and programming language that helps developers build and publish applications. You could call it investing, Anastos concedes, but he describes it as "surviving." According to Anastos, investing in a society with a stable economy is an optional act, whereas seeking opportunities to safely keep your money in a country like Venezuela is a necessity. "Their central banks destroyed their economy with hyperinflation and many of its citizens survived the crash by seeking refuge in crypto." 5. Bartering. Shidan Gouran, president and chief operating officer at Global Blockchain Technologies Corporation in Toronto says that Bunz.com, a Toronto-based online bartering community, has been particularly successful at using cryptocurrencies for trading. "With more than 200,000 users, the community operates on a strict no cash rule, permitting only trades of goods or services. Part of the community's strength is a shared diligence of users for respect of the rules and standards, ultimately making it a very safe and unproblematic place in which to barter," Gouran says. He adds that several weeks ago the website started its own proprietary cryptocurrency called BTZ (pronounced "bits"), which rewards users for their participation. At its launch, BTZ had more than 100 merchants who accept BTZ for payment. 6. As a new medium for investing excess financial aid money. The Student Loan Report, a website for student loan information, did a survey from March 16 to March 20 and asked 1,000 current college students about what they did with extra financial aid revenue . According to the survey's findings, 21 percent of students reported putting their money into cryptocurrencies such as bitcoin and others. While it's hard to say if college students will continue putting extra student loan money into cryptocurrency transactions, it's a safe bet that college students will continue to embrace forms of digital money. For instance, sometime during the next academic year, Carnegie Mellon University in Pittsburgh plans to launch its own cryptocurrency, CMU Coin, which they'll offer to students and faculty. [See: Should You Invest or Pay Off Debt? ] The primary reason that the school is offering its own virtual currency is to give the university a chance to research digital money, according to Param Vir Singh, associate professor of business technologies at Carnegie Mellon University's Tepper School of Business. "We expect that it would be used for regular purchases and may also lead to emergence of new markets on campus," Vir Singh says. || Is Qualcomm a Buy?: Years ago, Qualcomm (NASDAQ: QCOM) looked like an unstoppable force in the tech industry. The company's prolific high-end mobile processors and cellular baseband chips helped it solidify itself in a market where many component makers were getting burned by race-to-the-bottom prices. And even when the company experienced a few hiccups along the way, it always had its vast -- and incredibly lucrative -- patent business to fall back on. Many of the 3G and 4G patents used by tech companies around the world are owned by Qualcomm, and for years that drove the company's revenue higher. Man holding $100 bills. Image source: Getty Images. But fast-forward to today, and Qualcomm's business is looking a bit bruised. The company has been sued by some of its biggest customers, including Apple , on grounds that it was using its patents to charge exorbitant royalty fees for its patent licenses . The lawsuits have resulted in Qualcomm accepting lower royalties, or receiving none from some companies as the lawsuits play out, and in the first quarter of fiscal 2018 its licensing revenue fell 28% year over year. You can see the impact of Qualcomm's diminishing licensing royalties in the company's overall sales over the past few years. QCOM Revenue (TTM) Chart Image source: YCharts . Some positive moves, but lots of uncertainty Qualcomm is trying to right its ship by moving into new markets, like the Internet of Things . The company believes that its chips could play an important role in the expanding driverless car market, which will be worth an estimated $126.8 billion by 2027. That's why Qualcomm is in the process of buying NXP Semiconductors . NXP is one of the leading providers of chips to the automotive industry, and a marriage of Qualcomm's chips with NXP's could help the tech giant expand its revenue possibilities even further -- and it appears that the company just needs China's approval now in order to move forward. But despite Qualcomm's positive NXP news, the company was sent on a whirlwind the past few months as Broadcom (NASDAQ: AVGO) attempted a hostile takeover of the company. The U.S. government ended up shutting that down because it feared that Broadcom's ownership of Qualcomm might reduce Qualcomm's ability to secure 5G patents , which it believed might ultimately give China a leg up in that technology. Story continues Investors were initially pleased about the possibility of the acquisition, but once it fell through the company's shares dropped. Unfortunately, Qualcomm's investors have had to weather a lot of share price volatility over the past few years. QCOM Chart Image source: YCharts. Why investors should be cautious Some of Qualcomm's litigation woes are starting to get cleared up, but they aren't over yet. And while it looks like Qualcomm is safe from Broadcom's takeover, the advancement of other tech companies in 5G -- and Qualcomm's inability to charge such a high premium for its patent licensing in the future -- means that Qualcomm's tech dominance may be waning. The biggest ding against the company is that its patent licensing business isn't what it used to be, and it could take a while before the company finds new revenue streams to pick up the slack. Add all of Qualcomm's recent drama into the mix, and I'm perfectly content sitting on the sidelines of this stock right now. 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 Chris Neiger has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Apple. The Motley Fool owns shares of Qualcomm and has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool recommends Broadcom Ltd and NXP Semiconductors. The Motley Fool has a disclosure policy . || JetBlue Ramps Up Share Buybacks as Its Stock Price Stumbles: JetBlue Airways (NASDAQ: JBLU) reported strong first-quarter results a month ago and a solid outlook for the rest of the year. However, investors didn't seem to care , sending JetBlue stock down further -- perhaps due to concerns about whether the carrier can offset the cost headwind from rising fuel prices. Whatever the reason, JetBlue stock has barely budged in three years. Based on its Friday closing price of $19.41, the stock trades for less than 10 times analysts' 2019 earnings estimates. This is extraordinarily cheap, considering the carrier's massive growth opportunities. JBLU Chart JetBlue Airways stock performance. Data by YCharts . JetBlue's management is wisely reacting by increasing its share repurchase activity. Share buybacks will accelerate the company's EPS growth, providing a huge windfall for long-term investors. JetBlue authorizes another big buyback program In 2016, JetBlue's board authorized a $500 million share repurchase program that was supposed to be carried out between 2017 and 2019. Instead, JetBlue spent the entire $500 million during 2017. As a result, in December, the board authorized a new -- and even larger -- buyback plan. JetBlue now officially plans to repurchase $750 million of stock during the 2018-2019 period. A JetBlue Airways plane preparing to land JetBlue expanded its share repurchase program last December. Image source: JetBlue Airways. JetBlue got started last quarter by implementing a $125 million accelerated share repurchase (ASR) program. Last week, the company launched a second $125 million ASR program, which will be completed sometime during the third quarter. While JetBlue may not complete the entire $750 million buyback program by year-end, it should be able to buy back at least as much stock as it did in 2017. Last year, JetBlue generated $1.4 billion of operating cash flow, compared to capex of $1.2 billion. This resulted in free cash flow of approximately $200 million. JBLU Cash from Operations (Annual) Chart JetBlue Airways Cash from Operations vs. Capital Expenditures (Annual) . Data by YCharts . Story continues Rising fuel costs may put pressure on JetBlue's pre-tax earnings in 2018, but lower taxes should allow the company to grow (or at least maintain) its operating cash flow. Meanwhile, JetBlue expects capex to decline to around $1 billion this year (plus or minus $100 million). As a result, free cash flow could double or even triple year over year in 2018. Catching up with peers The recent surge in share buybacks at JetBlue is helping the carrier make up for lost time, after it lagged rivals like Southwest Airlines (NYSE: LUV) for many years in terms of returning cash to shareholders. In fact, over the past three years, JetBlue has reduced its share count by just 7%, with nearly all of that coming since the beginning of 2017. By contrast, Southwest Airlines has reduced its share count by about 13% over that period. JBLU Average Diluted Shares Outstanding (Quarterly) Chart JetBlue Airways vs. Southwest Airlines Average Diluted Shares Outstanding (Quarterly) , data by YCharts . Southwest Airlines has managed to shrink its share count faster than JetBlue even though it has also invested heavily in new aircraft in recent years. (In addition, Southwest has typically had a more expensive stock, which makes it harder to shrink the share count. It also pays a dividend, unlike JetBlue.) The main reason for this discrepancy is that Southwest Airlines has gradually increased its debt and capital lease obligations to help pay for its capex. That has freed up cash to be returned to shareholders. Despite raising its debt load by nearly $1 billion since the beginning of 2015, Southwest Airlines' leverage ratio was just 30% as of the end of March, due to the company's strong profitability. That's near the low end of Southwest's leverage target range. However, JetBlue ended March with an even lower leverage ratio of roughly 28%. Over the past five years, it has steadily paid down debt as it worked to fix its balance sheet. Now, management realizes that the balance sheet is in excellent shape. As a result, JetBlue plans to offer new debt sometime later this year, according to CFO Steve Priest. This will provide even more cash that can be returned to shareholders. Buybacks should boost JetBlue stock -- in the long run JetBlue stock looks like a bargain at its recent sub-$20 price. Based on its current market cap, the ongoing $750 million share buyback plan will repurchase roughly 12% of JetBlue's outstanding shares. That would provide a double-digit boost to earnings per share, relative to the baseline of no share buybacks. Given that JetBlue has a relatively modest capex plan for the next few years and doesn't need to reduce its debt any further, it should be able to repurchase significantly more than $750 million of its stock by the end of 2020. This should eventually lead to robust EPS growth, once JetBlue's cost-cutting initiatives stabilize the carrier's profitability. Since JetBlue has a very modest valuation today, a return to strong EPS growth could drive huge stock price gains. 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 JetBlue Airways and is long January 2019 $10 calls on JetBlue Airways. The Motley Fool recommends JetBlue Airways. The Motley Fool has a disclosure policy . || Who Blinked? Who Cares?: By:Blaine RollinsHarvest ExchangeMay 22, 2018 May 21, 2018 Just end all this tariff nonsense and let’s get back to business. Farmers have soybeans to plant and Campbell’s urgently needs cheaper can prices. The steel workers will be upset, but from the looks of their stock prices they were about to lose volumes to imported finished goods anyway, as end customers shifted to cheaper solutions. We can only hope that the pause of this trade rift with China will lead to calmer heads in other trade negotiations (NAFTA and the EU). While global trade wrinkles meet an iron this weekend, a few other articles need to find a steam press. First there is Venezuela which is unraveling further after the world turns against their sham Presidential election on Sunday. As planet Earth turns away from buying Venezuelan oil, prices will go higher. Global energy stores are exhausted and even a small supply disruption will elevate prices. But Venezuela is more than a small producer. U.S. and Iran angst only adds to oil price uncertainty. Hope that you locked in your summer airfare prices, or are soon taking delivery of your Tesla. The continued rise in U.S. interest rates and the U.S. dollar is putting significant pressure on Emerging Market currencies. And forex pressure is causing investment outflows which of course is negatively impacting EM stocks and bonds. Capital outflows is the last thing that Argentina, Turkey and others need right now. Investors will need extra thick stomach lining to hang onto their EM investments this year if the U.S. dollar continues to strengthen. While the markets will wrestle with higher oil prices and increasing troubles in Emerging Markets, I’d expect any return to normal on global trade to help U.S. stock prices for the time being. The direct beneficiaries of multi-national industrial and material companies, as well as anything touching grains, fruits and vegetables will see the most benefit. Those names that were hurt the most during the trade war will now see the most relief. This shift will throw a small wrench in the summer portfolio plans of several active funds. The environment also gets a bit better for credit which remains under the microscope for many of us. So, maybe it will end up being a good summer after all for investors…just like it will be for soccer fans because the World Cup begins in less than five weeks! The good trade news update on Sunday… The U.S. and China declared a truce in their trade dispute over the weekend, but that will prove temporary if the world’s two largest economies fail to deliver on their vague commitments to re-balance trade. “We’re putting the trade war on hold,” Treasury Secretary Steven Mnuchin said Sunday after the two sides released a joint statement a day earlier. “Right now, we have agreed to put the tariffs on hold while we execute the framework.” For now, Mnuchin’s cease-fire declaration will soothe the nerves of investors worried that the world’s two biggest economies were on the verge of an all-out trade conflict. President Donald Trump had threatened to slap tariffs on up to $150 billion in Chinese imports, and Beijing vowed to respond in kind. (Bloomberg) No company more excited to see the metal tariffs stop than Campbell’s Soup which fell -12% after their earnings report last week… Looking for maximum business uncertainty? Try being a grain farmer in 2018… Tom Giessel is cutting back on plantings this year on his farm in central Kansas as he reckons with a drought, a glut in global grains supply and trade tensions between the United States and China. About 200 miles away in the northwestern part of the state, farmer Janet Bear swapped the sorghum seed she ordered for corn, after top importer China slapped steep anti-dumping investigation into U.S. sorghum. The action pushed down U.S. prices and made the crop less profitable. China dropped its probe on Friday, retreating from a dispute that had upended global grains markets. Beijing separately threatened last month to slap an aggressive 25 percent tariff on U.S. soybeans, the single most valuable U.S. agricultural export to China, worth about $12 billon annually…. The conflict between the world’s two largest economies has sown uncertainty in the U.S. heartland about what crops will be profitable come harvest. Some farmers have changed from one crop to another. Others have decided to leave some land fallow rather than risk growing a money-losing crop. Nationally, U.S. farmers are set to plant the fewest acres with crops in seven years, according to the most recent farmer survey from the U.S. Department of Agriculture. The agency’s forecast for 318 million crop acres is down just 0.4 percent from 2017, but it signals curbs in plantings of everything from corn and soybeans to sugar beets and sunflowers. The trade dispute adds another layer of complexity to U.S. farmers’ decisions as they wonder whether one of the biggest buyers in global agricultural markets, China, will want to import U.S. produce and in what volumes. (Reuters) A good review of which commodities could win as trade with China resumes… Commodities were a big casualty of the escalating trade war between the U.S. and China, but are now set to be a major beneficiary of Beijing’s pledge to import more American goods. (Bloomberg) One commodity winner according to the White House will be energy…And as new IEA data shows, crude inventories are now below their five-year average. (WSJ) The airlines are clearly betting that Stephanie will spend a minimum of $2,500 on in-flight magazine purchases… Emerging Market currencies are getting smoked… (WSJ/Daily Shot) The strong U.S. dollar and interest rates have wrecked Emerging Market Bonds…U.S. high yield credit has held in well. Will it continue? (@HumbleStudent) Important Fed comment… Fed’s Bostic says his “job” is to prevent curve inversion. “I have had extended conversations with my colleagues about a flattening yield curve and the risks of it inverting…we are aware of it. So it is my job to make sure that doesn’t happen” (Bloomberg) As U.S. rates move higher, lots of talk about where the tipping point lies… (@jsblokland) Italians have decided on a populist government…So there goes government spending and interest rates. (WSJ/Daily Shot) Italy is now the new fly in the EU’s ointment. And the Euro is not happy… (WSJ/Daily Shot) And European financial stocks need to be admitted to the hospital… For the week, Small Cap stocks continued to lead the markets due to the surge in the U.S. dollar…And emerging market equities did the opposite. (5/18/18) Among sectors, Energy stocks led while Bond proxies lagged… (5/18/18) Go get ’em Wall Street Journal…Theranos was just a warm up to what they will find in the land of crypto. Hundreds of technology firms raising money in the fevered market for cryptocurrencies are using deceptive or even fraudulent tactics to lure investors. In a review of documents produced for 1,450 digital coin offerings, The Wall Street Journal has found 271 with red flags that include plagiarized investor documents, promises of guaranteed returns and missing or fake executive teams. “Jeremy Boker” is listed as a co-founder of Denaro, an online-payment project. In investor documents for a public offering in March, which claimed to have raised $8.3 million, Mr. Boker boasted of his cryptocurrency startup’s “powerhouse” team. In his biography, he noted a “respectable history of happy clients” in consulting before he launched Denaro. In fact, Mr. Boker’s bio image was a stock photo, there is no evidence he exists and the rest of his team appears to be fictional, except for two freelancers who said they were paid by people unknown to them to market the project, the Journal found. (WSJ) You have seen how this story ends… Thanks to barely there government oversight and a gold-rush mentality surrounding bitcoin, people have flocked to start their own copycat coins which, they hope, will be the next big thing. “It’s perplexing,” said David Tran, a VP of marketing at Coinberry, a trading app that hopes to continue bringing cryptro-currencies to the mainstream and to shed its image as mainly being used by drug dealers. “It feels like the 1990s internet.” As a partygoer asked Tran about his company, another attendee sidled up and shouted, “Coinberry!” — wrapping his arm around Tran. “I love Coinberry,” said the man who was suddenly Tran’s best friend. “I’m, like, a criminal, and I got verified [cleared to trade on Coinberry] right away.” As the yacht — with its 30,000 square feet of party space — pulled out of Pier 81 on Manhattan’s West Side, scores of young women wrapped in form-fitting black party dresses paired off with boyfriends or just mingled among schlubby guys in T-shirts or Wall Street pros. Dudes with neck tattoos got into the scene — as a guy wearing a space helmet floated around the dance floor. (NY Post) Everyone thought that launching futures on bitcoin was a good idea… If you are still a long-term believer in Bitcoin, then this is how your investment might play out… Kroger decides to go out fighting rather than to get completely run over by Amazon and Wal-Mart… U.K. online supermarket Ocado announced a deal Thursday to share its technology exclusively with Kroger, which trails only Walmart in the $650 billion U.S. grocery market. Online grocery delivery is expensive and inefficient, and Ocado may be the world’s leader in automating the process, which could give Kroger a boost against its rivals. Ocado’s most modern warehouse in South East England uses robots to pick groceries from a giant hive of boxes—a high-tech, high-spec solution that is expensive to set up but promises huge savings versus human pickers once operated at scale. Kroger is committing to roll out this technology across up to 20 warehouses over three years. In exchange Ocado will stop discussions with Kroger’s rivals. The two partners will hammer out the finer details over the coming year. The agreement is cemented by a shareholding: Ocado will issue roughly $250 million worth of new stock to Kroger, increasing its stake to 6% from 1%. (WSJ) Seattle is such an interesting place… Twenty cities are competing for Amazon’s second headquarters. Then there’s Seattle, Amazon’s current headquarters, which the city apparently wouldn’t mind driving away. Seattle’s city council on Monday unanimously approved a $250 “tax” per full-time employee on businesses with more than $20 million in annual revenue. Progressive council members had originally proposed a $500 jobs tax that would have turned into a 0.7% payroll tax in 2021, but then Seattle’s businesses revolted. Amazon suspended two building expansion projects. More than 100 large businesses including Expedia, Alaska Airlines and Redbox wrote a letter warning that the tax sends the message “to every business: if you are investing in growth, if you create too many jobs in Seattle, you will be punished,” which “will cause far greater damage to Seattle’s growth prospects than the direct impact on the businesses being taxed.” Three hundred or so small businesses also warned that “continuing tax increases and regulations will only hurt the small business community and will vastly change our city.” Even trade unions begged the council “not to tax our jobs away.” (WSJ) What a great sports story down in Atlanta… As in much of the American South, the sports landscape in Atlanta is dominated by football, both professional and college. But for transplants like Riddle without a tie to an existing franchise or university, true sports love can be hard to find. The Braves’ long run of success in Major League Baseball in the 1990s and early 2000s is now a memory, and last year the team moved to the suburbs. The Hawks of the N.B.A. have rarely drawn well, and two N.H.L. hockey teams have come and gone. Last year, Atlanta United eagerly stepped into that pro sports void, smashing attendance records, dominating M.L.S. merchandise sales and leading the league in scoring. Six months after it first kicked a ball, it became only the fourth team in league history to qualify for the playoffs in its inaugural season. This year, its upward trajectory has continued unabated: Attendance has continued to grow, to about 50,000 fans a game, and the team is again competing for the league’s best record. A year after the team first took the field, Atlanta United flags now fly in front yards and from porches in many neighborhoods. Sports talk radio shows devoted to soccer have found an audience, and it is increasingly difficult to spend a day in downtown Atlanta without seeing someone in one of the team’s jerseys.For a long time, “Atlanta was known for traffic, sprawl and the airport,” said Michael Tavani, 38, another transplant and entrepreneur who works downtown. “It wasn’t cool to be from Atlanta.” But in the last five years, he said, he has sensed a growing pride in the city, especially among its younger residents. “This generation of people,” Tavani said, “want to create a special place.” (NY Times) With the World Cup less than five weeks away, UBS picks Germany… If you think that you can do better, join the361 Capital World Cup Challengethe winner will receive a team jersey. Pro tip: Don’t pick Italy. With the start of the World Cup in Russia less than a month away, UBS deployed a team of 18 analysts and editors, and ran a computer simulation of the tournament 10,000 times, in an effort to predict the likely winner of the tournament. It’s a familiar game for UBS and other banks, many of which run competing models to predict the quadrennial World Cup. While the simulations might sounds impressive, they’re not always accurate: In 2014 UBS said hosts Brazil would prevail, only to see the team humiliated in a 7-1 semifinal loss to Germany, the eventual winner. (Bloomberg) Finally, the magazine cover of the year… (@NatGeo) Originally Published at:Who Blinked? Who Cares? || Buffett Gets Even Greedier With Teva Pharmaceuticals. Time to Buy?: Warren Buffett's famous for telling investors to be greedy when others are fearful, but buyingTeva Pharmaceuticals Industries(NYSE: TEVA)last year seemed like searching for loose change in a burning building. Generic drug prices began collapsing just after the company borrowed heavily to become the world's largest generic drug producer, and that was just one disasterof manythat forced the company to slash its dividend last year. We know that Buffett loves a good turnaround story, and it looks likeBerkshire Hathaway(NYSE: BRK-A)(NYSE: BRK-B)doubled down on its bet that Teva will be the next big one. The holding company shocked us a few months back by disclosing a sizable stake in the troubled drugmaker, and the latest round of filings shows that the stake doubled during the first quarter, to around $693 million at recent prices. Image source: The Motley Fool. Should you follow America's favorite investor? To answer that, let's look at reasons to suspect this troubled company can turn itself around. Generic competition for Teva's popular multiple sclerosis injection Copaxone tore a mighty chunk out of the company's top line, but there are reasons to suspect the worst is over. During the first quarter, generic competition pushed North American sales of Copaxone down 40%, to just $476 million. The abrupt drop isn't quite so terrifying when you consider Teva leaned on Copaxone for just 13% of its overall revenue stream in the first quarter, down from 19% in 2016. Teva slashed Copaxone's net price to compete with entering generics, and the strategy appears to be working. The popular 40 mg dosage of Copaxone maintained an 85% share in the important U.S. segment. This is encouraging when you consider Teva has a lot more experience on the other side of these negotiations. An ongoing plan the company started last fall to reduce staff by 25% isn't doing wonders for Teva's public image, but it's helped keep its bottom line in positive territory. In fact, Teva raised itsfree cash flowoutlook range by $400 million for the full year to between $3.0 billion and $3.2 billion. You can define free cash flow as income from operations minus capital investments necessary to keep those operations humming along. Teva investors can think of FCF as cash available to pay down a colossal collection of long-term debts that formed a $29.5 billion eyesore on the company's balance sheet when it reported last. At the end of March, the company was less than halfway into its massive 14,000 employee layoff, which could allow operating expenses to fall in tandem with generic drug prices until they finally hit a bottom. Investors will want to keep a close eye on margins in the quarters ahead, but it looks like they're staying positive. Image source: Getty Images. The bottom may have dropped out of North American generic drug prices, but Teva's European generic drug operations recorded a 2% year-to-year gain in local currency. It seems generic drug prices are near a bottom in Europe, but operations in the region still are turning a strong profit. In fact, Teva's European segment reported a $377 million profit during the first quarter that was 40% higher than during the previous-year period. Warren Buffett likes to buy companies with strong advantages over their competitors in industries likely to enjoy steadily rising demand. The number of Americans over the age of 80 is expected to double in the next decade, and this group spends around four times the national average on healthcare. Generic drugs are a big part of that spending, and Teva boasted of a 15% share of total U.S. generic prescription volumes. That's larger than any single competitor, and economies of scale could help the company remain profitable in this high-volume, low-margin industry. An unstoppable demographic shift and economies of scale might not provide breathtaking growth -- or any growth, for that matter. At this stock's beaten-down price, though, investors could come out ahead if profits remain flat into perpetuity. At the midpoint of its guidance range, Teva shares trade at just 6.9 times this year's expected free cash flow. In other words, for every dollar you put in right now, the company's going to generate around $0.15 cents this year, which will probably be used to pay down debt. If profits simply hold steady, within a few years, patient investors who bought the stock at recent prices could find themselves collecting a juicy dividend. Of course, there still is a chance that generic drug prices will continue plummeting, and even the industry's largest player won't be able to turn a profit. That's a hard pill to swallow and a risk worth taking. 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 Renauerhas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Berkshire Hathaway (B shares). The Motley Fool has adisclosure policy. || AUD/USD and NZD/USD Fundamental Weekly Forecast – Traders Likely to React to News About US-North Korea Meeting: The Australian and New Zealand Dollars settled mixed last week. The Australian Dollar rallied against the U.S. Dollar early in the week then held onto its gains into the close on Friday. The two-sided price action was fueled by a drop in U.S. interest rates and lower demand for risky assets. TheAUD/USDsettled at .7547, up 0.0035 or +0.47%. In other news, Reserve Bank of Australia Governor Philip Lowe said on Wednesday that the possibility of “something going wrong in China” is among the biggest economic risks faced by Australia. He was citing the build-up of debt in the world’s second largest economy. The New Zealand Dollar also posted a two-sided trade against the U.S. Dollar last week, first spiking to its highest level since May 11 before settling slightly lower. TheNZD/USDsettled at .6916, down 0.0004 or -0.06%. The price action was fueled by a drop in U.S. Treasury yields and trade concerns over the U.S. and China. Traders also reacted to several reports from New Zealand. Retail Sales came in lower than expected at 0.1%. Core Retail Sales also missed the forecast, coming in at 0.6% versus 1.1%. The Trade Balance, however, improved to 263 million from -156 million. Economists had forecast a gain of 200 million. Australian and New Zealand Dollar traders have a lot on their table this week. Over the week-end there were developments over the meeting between the United States and North Korea. Last week, President Trump created a little volatility in the markets when he abruptly canceled the meeting. This news drew investors out of higher risk assets and into safe haven assets. There are reports that the United States and North Korea are working hard to get the meeting back on track. This should reverse last week’s price action in stocks and gold. The Aussie is likely to be supported more than the Kiwi if there is increased demand for higher risk assets, but ultimately the direction of U.S. Treasury yields will determine the strength in the two currencies. Treasury yields were pressured last week when the dovish Fed minutes said the central bank would allow inflation to move above its mandated 2 percent target. This means the Fed won’t be as aggressive with rate hikes as previous thought. Furthermore, it is helping to tighten the spread between U.S. yields and Australian and New Zealand yields, which is also supportive for the currencies. This is also a big week for economic data. Monday is a U.S. holiday so there will be no trading. On Tuesday, investors will get the opportunity to react to the Conference Board’s Consumer Confidence report. Wednesday will feature the ADP Non-Farm Employment Change report and Preliminary GDP. The major report for the week is Friday’s U.S. Non-Farm Payrolls report. The Non-Farm Employment Change is expected to show the economy added 190K jobs in May. The Unemployment Rate is expected to remain at 3.9%. Average Hourly Earnings are expected to rise 0.3%. ISM Manufacturing PMI is expected to come in at 58.2, up slightly from 57.3. Thisarticlewas originally posted on FX Empire • E-mini S&P 500 Index (ES) Futures Technical Analysis – Longer-Term Bullish Over 2749.25, Bearish Under 2707.75 • E-mini Dow Jones Industrial Average (YM) Futures Analysis – Main Trend is Up, but Momentum is Trending Lower • Price of Gold Fundamental Weekly Forecast – Geopolitics and Economic Data Will Drive Price Action • What Happened to Bitcoin (BTC) These Past Few Days? • Oil Price Fundamental Weekly Forecast – U.S. Drillers Add 15 New Oil Rigs • Natural Gas Price Fundamental Weekly Forecast – Traders Focusing On Next Week’s Neutral Forecast || Craftsman Tools at Lowe's: Bad News for Sears Holdings: In early 2017, Sears Holdings (NASDAQ: SHLD) sold the rights to its storied Craftsman tool brand to Stanley Black & Decker (NYSE: SWK) . Stanley Black & Decker agreed to pay $525 million upfront -- plus supplemental payments with an estimated present value of at least $375 million -- for the right to manufacture and sell Craftsman-branded products outside of Sears Holdings-affiliated channels. The upfront windfall helped Sears Holdings cover some of its 2017 cash burn. The supplemental payments will shore up its underfunded pension plan. But now, Sears must pay the piper. On Monday, home improvement giant Lowe's (NYSE: LOW) began selling Craftsman tools and accessories made by Stanley Black & Decker. It probably won't take long for the availability of Craftsman products at Lowe's (and elsewhere) to start cannibalizing sales at Sears stores. The Craftsman tools are in early this year Lowe's announced last October that it would start carrying Craftsman tools . This was the first new distribution announcement made after Stanley Black & Decker closed the Craftsman deal. However, at the time, Lowe's stated that Craftsman products wouldn't start arriving in its stores and online until the second half of 2018. Instead, Stanley Black & Decker managed to get some Craftsman products to its new retail partner by mid-May: months ahead of the original schedule. Lowe's is now selling a selection of Craftsman-branded tool sets, tool storage units, garage organizers, and other items. A Lowe's employee and a customer looking at a Craftsman tool storage unit in a Lowe's store. Lowe's just started stocking Craftsman products in its stores and online. Image source: Lowe's. As Lowe's noted, the timing for this product launch is perfect, with the key Father's Day holiday coming up next month. Later in 2018, Lowe's will begin stocking its full Craftsman collection, which will include items like individual hand tools and power tools. Another sales headwind for Sears Tools are one of Sears Holdings' strongest product categories today (along with appliances). In fact, while Sears' revenue has been in a tailspin over the past few years, the company probably brought in at least $1 billion last year from selling Craftsman tools. Story continues The growing availability of Craftsman products outside of Sears stores is bound to cannibalize tool sales at Sears, which is already struggling with weak store traffic. While Craftsman tools have been sold at the likes of Ace Hardware previously, Lowe's is a whole different animal, with roughly 10 times the annual revenue of the Ace Hardware chain. At the time that it acquired the rights to the Craftsman brand, Stanley Black & Decker estimated that Craftsman would contribute about $100 million of revenue growth each year for 10 years. Stanley Black & Decker made this projection before Sears accelerated its rate of store closures, so it could potentially surpass that revenue growth target, at least in the near term. This isn't a huge amount of sales for Sears to lose, in the grand scheme of things. After all, Sears Holdings' revenue plunged by more than $5 billion last year. But it will still hurt, because the Craftsman tool business is undoubtedly one of Sears' most profitable business lines, due to the continuing power of the brand. How much more can Sears withstand? For the past several years, Sears Holdings has been burning an average of nearly $2 billion of cash annually. A special committee of the board is investigating more asset sales in an effort to improve the company's balance sheet. This news and other recent strategic moves have caused Sears Holdings stock to rally this month. That said, any recovery in the stock is predicated on the idea that Sears Holdings will eventually be able to stem its sales declines and cash burn. In fact, given that Sears is running out of assets to sell, the company probably needs to reach breakeven within two or three years to survive. Expanded distribution of Craftsman tools made by Stanley Black & Decker will make it harder than ever for Sears Holdings to reach breakeven. While the Craftsman sale bought the company some time, that's all it did. Sears Holdings is still likely to collapse within the next year or two. 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 has no position in any of the stocks mentioned. The Motley Fool recommends Lowe's. The Motley Fool has a disclosure policy . || Qualcomm Reportedly Just Beat Back MediaTek: According to a new report from DigiTimes , which often posts accurate information about smartphone supply chain machinations, wireless chip vendor MediaTek had been "optimistic that its gross margin and revenues would pick up drastically during the second quarter of 2018." That optimism was fueled by the expectation that top Chinese smartphone vendors Xiaomi, Oppo, and Vivo -- which collectively controlled an estimated 46% of the China smartphone market in the fourth quarter of 2017 -- were set to adopt MediaTek's latest Helio P60 applications processor. Unfortunately for MediaTek, wireless chip giant Qualcomm (NASDAQ: QCOM) will be launching its next-generation Snapdragon 700-series smartphone processors "at highly competitive pricing ahead of schedule in May," according to DigiTimes, which says its anonymous sources have said that Chinese smartphone vendors "significantly cut their orders with MediaTek before turning to Qualcomm." Let's go over some of the investment implications for Qualcomm if these rumors are true. A Qualcomm chip platform. Image source: Qualcomm. Leadership technology pays off Although MediaTek develops capable products, the reality is that Qualcomm tends to be at least a step ahead of its smaller rival in terms of technology capability. Qualcomm's cellular modem technology tends to be superior to MediaTek's, which is several generations behind Qualcomm's best in terms of features and capabilities, and Qualcomm leverages its expertise as a major vendor of chips for premium smartphones to strengthen the capabilities of its high-end, mid-range, and even low-end chips. That technology superiority pays off for Qualcomm because the smartphone market is cutthroat, and smartphone vendors often don't want to put themselves at a competitive disadvantage by using inferior chips. But Qualcomm's not in the clear Since Qualcomm has such a strong technology position in its core wireless chip business, I don't think Qualcomm investors should worry that the company will lose significant share to MediaTek or other smaller wireless chip makers anytime soon. In fact, there's a good chance that Qualcomm can continue to gain share at the others' expense. Story continues The real problems for Qualcomm's chip business are the following: A slowing overall smartphone market. Increased vertical integration by high-end smartphone manufacturers. There's not much Qualcomm can do about a slowing smartphone market and that's just a fact of life that the company and its stockholders will have to accept. The second risk is that some of Qualcomm's key customers will choose to either vertically integrate (i.e., make their own chips), or that those Qualcomm customers that already have internal chip efforts will displace Qualcomm further from their product lines. Key Qualcomm customer Samsung uses both Qualcomm chips as well as its own home-grown processors in its flagship smartphones. Huawei, too, seems to be shifting its product lines increasingly toward its own internally developed Kirin processors and away from Qualcomm's Snapdragon chips. Even Xiaomi, a company that has benefited tremendously from Qualcomm's work in both chips and reference designs, is trying to build its own chips . Considering that much of the industry's smartphone volume is consolidating to just a handful of vendors, and considering those vendors are going to try their hardest to find any and all points of differentiation as they battle for market share in a slowing overall industry, vertical integration continues to be a significant risk to Qualcomm's business. The onus is now on Qualcomm to continue building technology that's compelling enough that the competition can't build anything that matches it, let alone beats it, for the foreseeable future. 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 Ashraf Eassa owns shares of Qualcomm. The Motley Fool owns shares of Qualcomm. The Motley Fool has a disclosure policy . || Value vs. Growth: Which Is the Better Strategy?: There are many different ways to be a successful investor, and many people have fundamentally different ways in which they seek out the stocks they think will do best. One particularly wide gulf within the investment community is between value investors and growth investors. Listening to the debate between the two groups, you'd think that there'd be a clear-cut answer to which strategy is superior. Yet in the end, a lot depends on how you define investment success -- particularly where your tolerance for risk lies in pursuit of the best possible return. Two investing camps One difficulty in comparing the two strategies stems from the fact that there's no perfect definition for what value investing and growth investing are. In general, though, most people believe that value investing hinges on the idea that the best stocks in which to invest are those whose current share price doesn't accurately reflect the full potential that the company has to produce future income and growth. Many value investors focus on stocks that have seen their share prices beaten down substantially, believing that in many cases, shareholder panic in such situations is overblown. Others tend to define value stocks simply as the opposite of growth stocks, essentially relegating all companies with below-average growth rates to the value stock bin. Person in front of four-monitor stock trading setup with window overlooking urban skyline. Image source: Getty Images. Growth investing , on the other hand, is a little bit easier to recognize. Growth investors like to buy stocks that are seeing the biggest gains in revenue or net profits. Some growth investors focus on early stage small-cap companies that often haven't even become sustainably profitable yet, seeking out the highest sales growth in the belief that eventually, earnings will follow. Other investors look for better-established growth stocks that are already solidly in the black yet have further chances to expand their reach. How have both strategies done recently? When you look over the past 10 years at how value and growth stocks have done, it isn't even close. Growth has dominated value, with the iShares Russell 1000 Growth ETF (NYSEMKT: IWF) producing total returns of 174% since 2008, compared to just 100% over the same 10-year period for the iShares Russell 1000 Value ETF (NYSEMKT: IWD) . Using other fund families to compare leads to similar results. For instance, comparing two major growth and value ETFs from Vanguard, growth beats value 163% to 117%. Story continues However, there are trade-offs when you go with growth. The thing about growth stocks is that they often underperform during bear markets, just as they outperform during bull markets. For instance, between mid-2000 and the beginning of 2003, the iShares growth ETF fell more than 50%, compared to just a 14% drop for the iShares value ETF. Over the longer-term history of the stock market, value stocks have had an edge . From 1926 to 2016, value stocks returned an average of 17% annually, compared to 12.6% for growth stocks. Interestingly, the survey found that value stocks tend to do better when the economy turns around, but worse when the economy is weakening. Indeed, value stocks aren't always invulnerable to downturns. Between the market highs in the fall of 2007 and the bottom of the financial crisis bear market in early 2009, both growth and value stocks took huge hits. In fact, value stocks underperformed, with losses of 51% compared to 43% losses for growth stocks. That was due largely to the fact that banking stocks generally qualify as value rather than growth stocks, and they were among the hardest hit during the financial crisis. Which strategy should you pick? Most investors find that they simply like one style of investing better than the other, and you should generally go with that preference in making individual stock selections. You'll do a better job of picking stocks if you're passionate and motivated to look at the companies you want to invest in. So if cutting-edge growth stocks interest you, go with that. If you prefer well-known companies and think you can pick the ones that will rise from the ashes, that can serve you well too. Yet more importantly, don't fall into the trap of thinking that either strategy is the end-all be-all solution. The best stocks combine both growth and value, trading at a reasonable price compared to their impressive growth potential. When you find the best of growth and value in a single stock, that's usually a good sign that you've discovered a great investment. 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 . [Random Sample of Social Media Buzz (last 60 days)] #TipusCanvi de #divises a les 06:00 del dia 03-06-2018 1 euro = 1,3805 roures 1 dòlar = 0,6207 roures 1 lliure = 0,8286 roures 1 yen = 0,0057 roures 1 franc suís = 0,6282 roures 1 bitcoin = 4.744,56 roures #Criptomoneda a #SantEsteveDeLesRoures || The prompt for that 2014 Economist article was none other than Mike Hearn supporting #bitcoin! https://www.economist.com/free-exchange/2014/04/03/bitcoins-deflation-problem … My how times change. || 5 teorías conspirativas sobre el enigmático Satoshi Nakamoto, el “creador del bitcóin” https://goo.gl/CCg6JT  || IMT AIRDROP and Whitelisting Get 22222 IMT Token ( worth $100 ) https://docs.google.com/forms/d/e/1FAIpQLSciAEfeTKvcdM-IQc9BNgAtXt4jZNRhNBFtw4_M0knJ6upcxw/viewform … #ICO #airdrop #bounty #BTC #xrp #ftoken #Crypto #ETH #NEO #Blockchain #ripple #trx #tron #trx #binance #crypto #airdrops #token #cryptocurrency #freetoken #mew #erc20 || Signal 6422, 18th today, at 05-Jun 16:13 UTC #NANO at #BINANCE Buy: 0.00050144 - 0.00051156 Current ask: 0.00050700 Target 1: 0.00055000 (8.48%) Target 2: 0.00060000 (18.34%) Target 3: 0.00065000 (28.21%) Type: SHORT/MID TERM #Blockchain #Bitcoin #Cryptocurrencies #Trading || https://tsrpay.com/  #blockchain #ethereum #presale #preico #bitcoin #cryptocurrency #transcrypt #tsrpay #icohttps://twitter.com/tsrpay/status/1003922213425250304 … || Research Team Discovers a Major Flaw in Zcash Anonymity Protocol https://btcmanager.com/research-team-discovers-a-major-flaw-in-zcash-anonymity-protocol/ … #bitcoin #blockchain #ico #airdrop #crypto #eth #a0fi68 || The "disruptive" feature of Bitcoin is the ability for a lot of independent people to be able to trustlessly agree on a single ledger without centralized control. Proof of work combined with cryptographic hash chaining. Cheap transactions are the result of proper scaling. || Korean Government Clarifies Position After Supreme Court Crypto Ruling https://ift.tt/2HethR1  #Bitcoin pic.twitter.com/5BKqgzCFaL || #Crypto #Blockchain #GlobalREIT #BlockchainBasedREIT #ethereum #bitcoin #cryptocurrency #btc https://globalreit.io/ https://twitter.com/GlobalReit01/status/1003532003369775104 …
Trend: down || Prices: 7678.24, 7624.92, 7531.98, 6786.02, 6906.92, 6582.36, 6349.90, 6675.35, 6456.58, 6550.16
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 2017-03-08] BTC Price: 1150.00, BTC RSI: 50.73 Gold Price: 1208.50, Gold RSI: 39.69 Oil Price: 50.28, Oil RSI: 33.47 [Random Sample of News (last 60 days)] Bitcoin is shrugging off some big news of out of China: (Photographers in front of a mock bitcoin ATM in 2014 during the opening of Hong Kong's first bitcoin retail store.Reuters/Bobby Yip) Bitcoin is little changed at $924 a coin as of 7:26 a.m. ET. Monday's flat session comes despite some big news out of China. According to Reuters, the country's three largest bitcoin exchanges announced plans to begincharging a flat feeof 0.2% for each transaction. Releases fromBTCC,Huobi, andOkCoinreportedly said the fees were being implemented to "further curb market manipulation and extreme volatility." Bitcoin has had a wild start to 2017. The cryptocurrency rallied by more than 20% in the opening days of 2017 amid huge interest from China, which accounts fornearly 100% of trading. In fact, data fromCryptocomparefound, "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." The early gains vanished in a matter of days, however, as bitcoin tumbled 35% on concerns that China was going to crack down on trading, with Beijing having announced it had beguninvestigating bitcoin exchangesin Beijing and Shanghai on suspicion of market manipulation, money laundering, unauthorized financing, and other issues. But bitcoin has managed to work its way off support in the $750 area, and it is trying to break out of resistance in the $880/$920 area that has defined trade for the past week. Monday's announcement could reduce some of the market volatility, as bitcoin traders in China won't be allowed to buy and sell without paying the new transaction fee. (Investing.com) NOW WATCH:Here's how to use one of the many apps to buy and trade bitcoin More From Business Insider • Here's how to use one of the many apps to buy and trade bitcoin • One country dominates the global bitcoin market • Bitcoin is soaring || Bitcoin is shrugging off some big news of out of China: (Photographers in front of a mock bitcoin ATM in 2014 during the opening of Hong Kong's first bitcoin retail store.Reuters/Bobby Yip) Bitcoin is little changed at $924 a coin as of 7:26 a.m. ET. Monday's flat session comes despite some big news out of China. According to Reuters, the country's three largest bitcoin exchanges announced plans to begincharging a flat feeof 0.2% for each transaction. Releases fromBTCC,Huobi, andOkCoinreportedly said the fees were being implemented to "further curb market manipulation and extreme volatility." Bitcoin has had a wild start to 2017. The cryptocurrency rallied by more than 20% in the opening days of 2017 amid huge interest from China, which accounts fornearly 100% of trading. In fact, data fromCryptocomparefound, "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." The early gains vanished in a matter of days, however, as bitcoin tumbled 35% on concerns that China was going to crack down on trading, with Beijing having announced it had beguninvestigating bitcoin exchangesin Beijing and Shanghai on suspicion of market manipulation, money laundering, unauthorized financing, and other issues. But bitcoin has managed to work its way off support in the $750 area, and it is trying to break out of resistance in the $880/$920 area that has defined trade for the past week. Monday's announcement could reduce some of the market volatility, as bitcoin traders in China won't be allowed to buy and sell without paying the new transaction fee. (Investing.com) NOW WATCH:Here's how to use one of the many apps to buy and trade bitcoin More From Business Insider • Here's how to use one of the many apps to buy and trade bitcoin • One country dominates the global bitcoin market • Bitcoin is soaring || Fashion Forward: Flow customers in for a treat as Monday Night TV heats up with Caribbean's Next Top Model Season 3 on Flow1: PORT OF SPAIN, TRINIDAD--(Marketwired - Jan 27, 2017) - Flow customers will have front row seats as Caribbean's Next Top Model (CaribeNTM) Season 3 heats up Monday night television with its double-length series premiere on January 30 th at 9 pm -- exclusively on Flow1, formerly known as Flow TV. Over the past few months, aspiring young models from 15 countries across the region auditioned to become the next Caribbean girl who has what it takes to reach the top of the global fashion industry. Seventeen contestants will brace for battle in the new season, which is shot against the enchanting backdrop of the Spice Isle of the Caribbean, Grenada -- home to Season 2 winner, the 6ft tall Kittisha Doyle. Doyle is currently in New York City where she is carded to walk in this year's New York fashion week. Wendy Fitzwilliam , Trinidadian attorney at law, philanthropist, fashion model and former Miss Universe, will return as Host and Chief Judge of Season 3, which promises to be packed with even more drama and entertainment than ever before . "Modelling is a tough business," says Fitzwilliam, "and we promise Flow customers an exciting Season that will showcase the hard-work and determination that is required to make it to the top. We encourage viewers to tune in to Flow1 every week and support their favourite girls by following and voting on social media as well." Flow's Senior Director, Consumer Communications, Wendy McDonald said, "An added feature for CaribeNTM Season 3 is the ability for our customers to enjoy a more interactive experience, as they can follow the live action no matter where they are via our Flow-to-Go app, as well as catch up on reruns of Seasons 1 and 2 via Flow's video on demand services (VoD)." McDonald also proudly spoke about the company's commitment to create the best viewing experience and bring relevant and relatable content to Caribbean viewers. Flow has made significant investments to bring programmes such as Caribbean's Next Top Model, Caribbean Tales Incubator Programme for Caribbean filmmakers, and the airing of premier regional sports content like the Flow CARIFTA Games , which will be broadcast live from Curacao in 2017. Story continues Caribbean's Next Top Model will air exclusively on Monday nights at 9pm Caribbean and Eastern Time, with a repeat on Thursdays at 9pm on Flow1. EDITORS NOTE: 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 enables us to develop market-leading products delivered through next-generation networks that connect our 29 million customers who subscribe to over 60 million television, broadband internet and telephony services. We also serve 10 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 ) 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 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=3103371 || 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. 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) || 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) || Why Small Businesses Should Consider Bitcoin: In 2015 bitcoin finally made its mark: More than 100,000 businesses , including industry giants like Microsoft, Overstock.com and Dell, accepted it. But, what exactly is this mysterious "cryptocurrency" everyone has been talking about for years? And, is it time your small business accepted it, too? Related: 5 Ways to Participate in the Bitcoin Revolution Here's what you need to know about what bitcoin is, its advantages and potential drawbacks. What is bitcoin? Bitcoin is a cryptocurrency or an entirely digital form of money, invented in 2009. While that might not sound interesting, what sets bitcoin apart is that it's purely person-to-person , with virtually no banks, financial institutions or government bodies standing in the way between you and your money. Bitcoin relies on a technology system called blockchain that keeps your bitcoin wallet safe and secure from fraud. The currency's digital format also makes for faster, cheaper, easier exchanges of cash, from which many small businesses may benefit. Overall, Bitcoin's assets stem from its decentralization. Blockchain, the technology bitcoin was built on, allows you to not have to rely on a bank to process your financial transactions. Here are other reasons to consider bitcoin: 1. No fees If your 2 to 3 percent merchant transaction fees are a drain on your cash flow, then bitcoin has you covered. Bitcoin transactions typically cost between 1 percent and zero. That's no typo. You can send or accept bitcoins as payments with no fees attached. Since bitcoin doesn't require a bank to verify each transaction, you don't have to sacrifice your own revenue to the financial institutions that own your business loans or credit cards . However, you'll often have the option to pay an extremely small transaction fee, which can speed up your processing. 2. No wait Maybe those fees aren't bothering you, but waiting around for your money to arrive in your bank account does. Because there's no centralized institution that checks every bitcoin transaction -- its underlying technology, blockchain, does it for you -- there's no need to wait nearly as long to receive your payment. Bitcoin transactions are processed quickly, usually in a fraction of the time credit card transactions do. Story continues You can charge a customer, go for a walk around the block and receive your money. Bitcoin is that fast . 3. No borders If you export your goods and services or purchase supplies or materials from abroad, then bitcoin is a great solution for dealing with foreign transaction fees, exchange rates or currencies. Why? Because bitcoin is a global currency, not tied to a single government or company , it ignores border restrictions. As long as your customers or suppliers accept bitcoin, you're good to go. 4. No payment disputes Even though bitcoin is digital, it works more like cash than credit. Bitcoin transactions are final and can't be contested by a customer on the basis that he or she, for example, didn't enjoy the service you provided. If you have trouble with customers disputing their credit card payments, then accepting bitcoin could help. 5. An investment opportunity Like other currencies, bitcoin fluctuates in value. However, it's generally less stable than the payments in cash, gold or other commodities you're used to. Related: The Strange Positive Effect Political Uncertainly Has on Bitcoin While this fluctuation can be a drawback to accepting bitcoin, as we'll discuss below, it can also have a large upside. You can look at bitcoin as an investment: By accepting bitcoins, then waiting to cash them in, you're taking a chance on their value increasing. Bitcoin makes investing in a currency seem much less absurd or boring. From 2011 to 2013, the value of a single bitcoin rose from $2 to $1,242. Although it has since fallen back to around $800 today, there's still much potential for growth. Challenges of accepting bitcoin It's always important to be aware of the potential dangers, as well. Here are the three largest obstacles to running a business with bitcoin. 1. It's unregulated. Although its decentralization is a plus, bitcoin's lack of government support may scare some away. The U.S. government recognizes bitcoin as a valid commodity and possibly even a positive influence on financial regulation, but some other countries have restricted or banned the use of bitcoin. 2. It's unstable. Although bitcoin has become increasingly more stable over time, even recently beating out gold , it's still fundamentally a currency that isn't overseen by a single financial institution. If the economy requires it, the Federal Reserve can raise or lower interest rates, but no such option exists with bitcoin. Some observers point to this "unstable" quality as a good thing, since the bitcoin market has no interference, but it could also make things difficult for your small business if that market suffers. You'll want to figure out your aversion to risk before investing big in bitcoin. 3. It's tough to plan for. With a decentralized, volatile, purely digital currency, it can be difficult to plan financial statements, figure out taxes and determine your prices . How can you make projections that account for large fluctuations or changing government regulations? This is not an easy task, although it is do-able. You'll definitely need to speak with your bookkeeper and accountant before accepting bitcoin at your small business. Related: Bitcoin Is Money, U.S. Judge Says in Case Tied to JPMorgan Hack Overall, there's a lot that bitcoin can help your small business with, but also plenty of question marks involved in accepting the currency. If you're considering accepting bitcoin, sit down and determine why it can help your business and how you will deal with the challenges it may bring. || VW Is on a Roll As $4.3 Billion DoJ Dieselgate Deal Nears: Volkswagen is on the up. The German company looks likely to have pipped Toyota to the title of the world’s biggest-selling automaker in 2016, despite a never-ending stream of dispiriting about its “Dieselgate” scandal. The reason is simple: in 2015, the German group had two separate crises. In addition to the diesel woes, it had a shockingly bad year in China, its most important market outside Europe, where it initially missed a shift in consumer preferences towards sport utility vehicles and crossovers. In 2016, as Dieselgate dominated the news flow in the U.S., VW was quietly putting its problems in China behind it: sales there rose over 12% to 3.98 million - almost 40% of a global sales total of 10.312 million, according to figures released by the company Tuesday . To judge by the stock market’s reaction, that operational turnaround is much more important than the final acts of the Dieselgate scandal. The company’s preferred stock in Frankfurt hit its highest level since the diesel scandal broke on Tuesday in reaction to the sales news. Dieselgate, when it broke, had initially wiped over 60 billion euros ($64 billion) off VW’s market value. But analysts’ forecasts of the likely actual damage soon coalesced around 30 billion euros. So far this year, the company has paid some $17.5 billion to settle civil claims from the Justice Department and environmental regulators , and smooth the ruffled feathers of its U.S. dealers and customers . It’s also paid smaller fines in countries such as South Korea , which also last week became the first country to jail a VW executive in connection with the scandal . Read More: Inside Volkswagen's Emissions Scandal But the general market view is that the bulk of the financial damage from Dieselgate is now accounted for, and that outstanding lawsuits against it will still leave the total bill well short of that 30 billion euro benchmark. How far short is another question. The company cleared up one of the biggest remaining variables on Tuesday, announcing that it is in advanced talks to settle the Department of Justice’s criminal investigation with a guilty plea and fines of around $4.3 billion (bringing the total in U.S. settlements to $21.8 billion). That will ensure that Dieselgate hits this year’s earnings too, but the company doesn’t yet know how much by. Story continues Resolving the U.S. criminal investigation still leaves it facing another one in Germany, as well as civil actions in both countries from investors about its failure to warn them in a timely manner of the extent of the scandal. A German Musterklage, a lawsuit representing an individual shareholder that could be used as a template for thousands more, was filed by law firm MyRight and accepted by a court in Braunschweig last week. Tuesday’s announcement of an imminent settlement appears to have been precipitated by a growing body of evidence from former employees who had agreed to turn state’s evidence. On Monday, VW’s former head of compliance in the U.S., Oliver Schmidt, was arraigned and charged with conspiring to defraud U.S. regulators on the basis of new FBI evidence . The charges unsealed in a Florida court included a direct assertion that top management had chosen to continue lying to regulators even after Schmidt and others had briefed them on the issue of ‘defeat devices’ (designed to trick emissions testers) in July 2015. James Liang had become the first VW employee to turn state’s evidence in September as part of a plea bargain . But on Tuesday, the German newspaper Sueddeutsche Zeitung reported that at least five VW employees have now turned state’s evidence, and that two of them have alleged that both VW brand head Herbert Diess and former Chief Executive Martin Winterkorn knew about the issue no later than July 2015. Winterkorn had resigned within days of the scandal breaking in September 2015. He has always insisted that he knew nothing of the defeat devices, and that line has been central to VW’s strategy of damage limitation ever since, a strategy that has deflected blame on to a small group of supposedly rogue engineering executives below the C-suite. A spokeswoman for VW said in an e-mailed statement that “Volkswagen continues to cooperate with the Department of Justice as we work to resolve remaining matters in the United States. It would not be appropriate to comment on any ongoing investigations or to discuss personnel matters." VW’s statement Tuesday confirmed that it would be agreeing to a “statement of facts” about its deception. That will be closely parsed by the investors suing VW for details of who knew how much, when. That will have a big bearing on efforts to prove management complicity in keeping bad news from the stock market. It’s still too early to say how much more such an admission could cost it. Germany has no tradition of handing down punitive fines to companies that are important employers and taxpayers. However, U.S. investors were told last week by federal judge Charles Breyer that their complaint against VW could be heard in a U.S. court too, with a nod to the German’s group’s New York-listed depositary receipts. As such, those hoping that VW could walk away from Dieselgate with substantial change out of 30 billion euros might still end up disappointed. UPDATE: This story has been updated to include the news of Volkswagen’s statement about talks to settle the DoJ’s criminal case. See original article on Fortune.com More from Fortune.com Facebook Will Test Ads in the Middle of Videos How to Invest Like a Winner Under Trumponomics, Says J.P. Morgan Bitcoin Exchange Operator Pleads Guilty in Case Tied to J.P. Morgan Hack Goldman Sachs Says These 3 Things Could Wreck the Economy in 2017 Here's Why Bitcoin Prices Fell Sharply Last Week || 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) || What Snap’s Pop and Drop IPO Means For ETFs: When Snap, parent company of the Snapchat app, went public last week, it was the hottest initial public offering in more than two years. Hoping to buy in to the latest social media trend, investors bought up Snap's stock hand over fist, propelling shares higher by 44% in their trading debut. At its peak, Snap was valued at more than $34 billion ($29.44/share) and was up more than 70% from its IPO price. The flurry of trading in Snap shares was from investors directly buying into the stock. Most ETFs don't own Snap―at least not yet―and that's not necessarily a bad thing. Pop And Drop After peaking last Friday, shares of the company lost nearly a third of their value to briefly trade below $21. That's the lowest price for the stock since it began trading on the New York Stock Exchange, though still above the IPO price of $17 (large institutional investors that are clients of the underwriting banks are typically the only ones with access to shares at the IPO price). If Wall Street analysts are right, the post-IPO swoon in Snap shares may not be over. According to CNBC, not a single analyst has a "buy" rating on the stock, while six have "sell" ratings on it amid concerns about valuations and slowing user growth. On the other hand, the company's app boasts a massive 158 million daily active users, and grew revenue sevenfold from 2015 to 2016. In essence, bulls hope that Snap becomes the next big social media powerhouse like Facebook, while bears pan it was the next Twitter, a hyped-up company that ends up disappointing investors. No Guarantee Of Place In S&P 500 Given these mixed signals for Snap’s stock, perhaps it's fortunate that most ETFs won't buy in to the company until the dust settles. It will be at least six to 12 months before the committee for the S&P 500 considers including it for inclusion in the large-cap index. That's just the minimum amount of time. It took even longer for other social media heavyweights to join the index. For Google and Facebook, it was 19 months before they were added to the S&P 500. Meanwhile, Twitter has never been included in the S&P 500 despite being larger than many of the index's other components, highlighting the fact that a big market value doesn't guarantee a spot in the venerable index. Story continues That means it will be awhile―if ever―before investors see Snap as a holding for the SPDR S&P 500 ETF (SPY) , the Technology Select Sector SPDR Fund (XLK) and many other funds tied to the S&P 500. Voting Rights Concerns Adding another roadblock to Snap's journey into ETFs is resistance on the part of some investors to the company's voting structure. None of the Snap shares offered on the market last week have voting rights―an unprecedented situation for an IPO―which leaves firm control of the company in the hands of its two founders. Balking at what it sees as an unfair situation, the Council of Institutional Investors has urged S&P Dow Jones Indices and MSCI to exclude Snap from their indices, according to a Reuters report. Both index providers are reviewing the situation, but a decision is not expected for at least a few months. If S&P and MSCI don't include Snap in their indexes, that means the plethora of ETFs that track those indices won't include it either. Prominent Place In Some ETF With all that said, regardless of what S&P and MSCI decide, a spot for Snap is all but guaranteed in at least some ETFs. The Vanguard Total Stock Market Index Fund (VTI) is a fund that holds all U.S. small cap, midcap and large-cap stocks. It tracks a CRSP index that reconstitutes quarterly. That means Snap could be a VTI holding by June, according to current index rules for IPOs. Of course, whether Snap ends up in an investor's broad stock market ETF is relatively inconsequential. Funds such as VTI are highly diversified, and one company—no matter how big or exciting it is—won't noticeable impact returns. In contrast, for some niche ETFs, Snap has the potential to significantly impact returns. Take the Global X Social Media ETF (SOCL) , with $84 million in assets. It tracks up to 50 social media companies from around the world, including Facebook, Tencent, Twitter, Yandex and NetEase. YTD Return For SOCL As one of the largest social media companies today, Snap has a prominent place in SOCL's portfolio. As of Wednesday, the company accounted for 4.4% of the fund, making it the 12th-largest holding. Snap Included In IPO ETF Another ETF where Snap will likely feature prominently is the $682 million First Trust U.S. Equity Opportunities ETF (FPX) . FPX buys stocks of companies that recently went public, hoping to capitalize on the rapid growth that new public companies often see. FPX holds a basket of the 100 largest IPOs, with an aim to keep them in its portfolio for their first 1,000 trading days, or about four years. Current top holdings include Kraft Heinz, AbbVie, Shire, PayPal and Facebook. Snap is already a holding for FPX, representing a tiny 0.28% of the fund's portfolio, according to the issuer website. That figure is likely to increase substantially at the next quarterly rebalancing later this month. A smaller rival IPO product, the $14 million Renaissance IPO ETF (IPO) , doesn't include Snap as a component yet, but it's expected to become one at the quarterly rebalancing later in March. The ETF keeps its holdings for two years. Top components currently include First Data, TransUnion, Shopify, Univar and Blue Buffalo. YTD Returns For FPX & IPO Contact Sumit Roy at [email protected] Recommended Stories Why Small Cap ETFs Are Underperforming Fed Raises Rates, Maintains ‘Gradual’ Pace SEC Rejects Winklevoss Bitcoin ETF Swedroe: Political Biases Can Impact Your Investing Big Bitcoin ETF Decision Coming Today, Or Maybe Not Permalink | © Copyright 2017 ETF.com. All rights reserved || Bitcoin firm gets approval to operate in Switzerland: By Brenna Hughes Neghaiwi ZURICH (Reuters) - Bitcoin wallet provider Xapo said it has received conditional approval from Switzerland's financial market watchdog to operate in the country in a regulatory breakthrough for companies that provide safekeeping for the virtual currency. "After almost two years of substantial effort and investment, Xapo has received conditional approval from the Swiss Financial Market Supervisory Authority (FINMA) to operate in Switzerland," Xapo CEO Wences Casares said in a blog on the company's website. The approval depended on several factors, including membership of a "self-regulatory organization", Casares said, but added that the company was optimistic of meeting the conditions and being able to serve non-U.S. customers from Switzerland. FINMA declined to comment on an individual company's status. Olga Feldmeier, a former managing partner of Xapo who coordinated the Swiss licensing process for the company, told Reuters that Xapo had been designated a financial intermediary, meaning it will not require a costly banking license. Wallet providers like Xapo, which was founded in Silicon Valley, store the private keys that allow clients to access their digital currency funds. While other crypto-currency firms already operate in Switzerland, Xapo's operation as a bitcoin wallet provider had raised questions over whether it required a banking license. A burgeoning industry surrounding bitcoin - a web-based "crypto-currency" that has no central authority, relying instead on a global network of computers that validate transactions and add new bitcoins to the system - has posed questions for lawmakers and regulators. Xapo argued it did not accept deposits. Swiss authorities are eager to secure a leading role for Switzerland while playing catch-up in a rapidly changing financial technology (fintech) landscape. Bitcoin Suisse operates a network of bitcoin ATMs across the country, as well as an online and in-person brokerage for buying and selling bitcoins. But it does not itself store the private access keys that led to questions about whether Xapo was taking deposits. Switzerland's cabinet in November proposed new light-touch regulations for fintech companies aimed at bolstering business and competitiveness. The proposals include a fintech license, granted by FINMA, for institutions which are restricted to taking deposits of up to 100 million Swiss francs ($99.9 million) and do not lend. Xapo is now in the process of joining a self-regulatory organization required under Swiss anti-money laundering regulations to begin operations, Feldmeier said. (Editing by Adrian Croft) [Random Sample of Social Media Buzz (last 60 days)] ☞ “Police Friendly” Coinbase Used to Sell Bitcoin Seized in Investigations http://ift.tt/2l0sLyb  #bitcoin || Ganhe 50x mais Rapido Bitcoin 7 MELHORES sites 2016 pagando 00 12 30: http://youtu.be/Evg7TwIpTio?a  via @YouTube || Descubra como Ganhar mais de 200 reais por DIA com Bitcoins https://www.bitcoinmais.com/32650/  #bitcoinmais #ganharbitcoin #bitcoin || $829.87 at 22:15 UTC [24h Range: $813.80 - $835.00 Volume: 5686 BTC] || Announcing the Bcoin v1.0.0 Beta Release Purse Essays #bitcoin https://medium.com/purse-essays/announcing-the-bcoin-v1-0-0-beta-release-b6c1c4acf1e3 … pic.twitter.com/Zar20bwxEJ #ResidualBitcoin || Turn Any Image Or Document Into A Bitcoin Private Key & Address http://ift.tt/2lQMpOQ  || Any reason you don't want to earn bitcoin on autopilot? http://buff.ly/2l359HS  http://fb.me/2FkPvcOJc  || Aprovecha y Gana Bitcoins Gratis..!!..#Bitcoin #Faucet https://cards.twitter.com/cards/18ce53yr6xi/1eiul … || luke-jr: If a second "coin" is created, it *failed* to be a hardfork, and is just another altcoin.https://www.reddit.com/r/Bitcoin/comments/5u9v5o/can_someone_clearly_explain_what_is_a_bitcoin/ddu6kjd?context=3 … || $919.16 #bitfinex; $909.00 #btce; $923.38 #GDAX; $917.01 #bitstamp; $921.10 #gemini; $918.30 #itBit; #bitcoin news: http://bit.ly/1VI6Yse 
Trend: down || Prices: 1188.49, 1116.72, 1175.83, 1221.38, 1231.92, 1240.00, 1249.61, 1187.81, 1100.23, 973.82
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 2016-01-05] BTC Price: 431.96, BTC RSI: 53.13 Gold Price: 1078.40, Gold RSI: 51.49 Oil Price: 35.97, Oil RSI: 41.09 [Random Sample of News (last 60 days)] 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 Fentonadmittedthat 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. 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. || MarilynJean Interactive (MJMI.QB) Welcomes Top Bitcoin Remittance and ATM Expert to Board of Advisors: HENDERSON, NV / ACCESSWIRE / November 9, 2015 / MarilynJean Interactive ( MJMI ) today announced it has retained Christopher Concepcion to serve on its board of advisors. Mr. Concepcion has an MBA from Stanford University, over 30 years of international corporate expertise at the executive level, wide ranging business relationships in the Philippines and extensive experience in Bitcoin remittance and ATM operations. Mr. Concepcion was born and raised in the Philippines where he earned his undergraduate degree in business at The University of The Philippines in Manila. He then completed an MBA at Stanford University in California. While in the Philippines, Mr. Concepcion held executive positions in companies involved in supply chain management, real estate financing, insurance and communications. He has worked with Filipino remittances for the last 12 years. Mr. Concepcion was also a member of the Capital Markets Development Council that provided public / private business policy advice to the Philippine government. Mr. Concepcion and his family relocated to Canada in 2014. In late 2014, Mr. Concepcion formed Bitcoiniacs Holdings Inc., to acquire the world's first Bitcoin ATM operator. Mr. Concepcion then pivoted the business toward remittances, with a focus on using Bitcoins to allow foreign workers to quickly and inexpensively remit funds to the Philippines. Peter Janosi, MJMI's president said: "We couldn't be more excited to have Mr. Concepcion join our growing team. His expertise and the business direction of his firm match perfectly with 's plans in the remittance space. Mr. Concepcion's firm owns the world's first Bitcoin ATM and the first standalone Bitcoin remittance storefront, both in Vancouver Canada. With his Bitcoin expertise and top level Philippine contacts, we firmly believe Mr. Concepcion will provide invaluable advice and important introductions as we target the multi-billion dollar Philippine remittance market. We look forward to updating our shareholders as we grow this relationship." Story continues About MJMI MJMI is in the business of providing safe and accessible services for the users of Bitcoin and other crypto-currencies. Crypto-currencies are a medium of exchange using cryptography to secure transactions and control the creation of new units. Bitcoin became the first decentralized crypto-currency in 2009. Crypto-currency is produced at a rate which is defined when the system is created and publicly known. By contrast, in centralized banking and economic systems, such as the Federal Reserve System, corporate boards or governments control the supply of currency by printing units or demanding additions to digital banking ledgers. However, neither companies nor governments can produce units of crypto-currency and as such the value of crypto-currencies are completely based on supply and demand, free from any governmental control. Many people believe crypto-currencies, and in particular bitcoin, hold the promise of being the most significant advancement in global finance in modern history. The advent of bitcoin creates a secure, easily accessible and transferable transnational currency that is completely liberated from political influence. MJMI is currently exploring partnerships in several verticals within the crypto-currency space, including the multi-billion dollar remittance market. Management believes that several industries, including both international remittances and online gambling are on the verge of being revolutionized by the use of Bitcoin to effect transactions. MarilynJean Media Interactive is among the first publicly traded companies focused on bitcoin and the crypto-currency space. The company's trading symbol is MJMI.QB. Website: www.marilynjean.com Press Contact: [email protected] SOURCE: MarilynJean Media Interactive || Faster Growth and Enhanced Customer Benefits Expected From Proposed Liberty Global Acquisition of CWC: LONDON, UNITED KINGDOM--(Marketwired - Nov 16, 2015) - The Board of Cable & Wireless Communications Plc ("CWC") today announces that it has reached agreement on the terms of a recommended acquisition for the entire issued and to be issued share capital of CWC by Liberty Global ("the Transaction"). Highlights • The Recommended Offer delivers 86.821pence per share to free float shareholders comprising shares in Liberty Global and a 3 pence per share Special Dividend2 • Represents a premium of approximately 50 per cent. to the undisturbed price of CWC on 21 October 2015 • The non-free float shareholders3have irrevocably undertaken to accept the alternative offers resulting in an overall blended offer price for CWC of 81.911pence per share • Highly attractive LTM EV/EBITDA multiple of 12.3 times4 • Including the Special Dividend2, transaction values CWC at approximately $8.2 billion1, including debt(5) • Transaction expected to complete by calendar Q2 2016 The Board of Cable & Wireless Communications, having been approached directly by Liberty Global, has concluded that it is in the long-term best interests of the company, its shareholders, employees and customers, alike, to sell the business for an overall price of approximately $8.2 billion1. This equates to 86.821pence per share in cash and Liberty Global shares for our free float shareholders and represents a premium of approximately 50 per cent. to our undisturbed share price, i.e. the price the day before Liberty Global's interest in acquiring CWC became public, and a premium of approximately 18% to where CWC shares were trading last Friday, 13 November 2015. Liberty Global is the world's largest international cable television company, with nearly 27 million subscribers receiving over 57 million distinct services and generating approximately $18 billion of annual revenues, with operations mainly in Europe, but growing ambitions in Latin America and the Caribbean. By joining forces at this time, we combine our high growth assets in Latin America and the Caribbean, with the scale and complementary skills of a truly world class global player, materially improving our ability to offer leading products and services to customers in the region we serve. And by adding their strength and 1.5 million customers in Puerto Rico and Chile, backed by our strengths in adjoining markets and in leading submarine and terrestrial fibre networks, together we expect to grow our Consumer and B2B offers even faster. Sir Richard Lapthorne, Chairman of CWC, commented"While we remain confident that CWC's unique and highly attractive business has a substantial long-term growth opportunity ahead of it, we believe the Recommended Offer represents an attractive premium for shareholders and secures earlier delivery of our long-term value potential, hence the Board's recommendation today. "Taken alongside the irrevocable commitments made by John Risley, John Malone and Brendan Paddick, this offer will deliver a price per share of 87 pence to CWC's free float investors and a 50% takeover premium to the undisturbed price on 21 October 2015." Phil Bentley, Chief Executive of CWC, said"Since we launched our new strategy two years ago, CWC has transformed itself into a leading regional quad play operator. The disposal of Monaco, the creation of our regional hub in Miami and the recent acquisition of Columbus accelerated our competitive positioning whilst at the same time generating significant value for shareholders and enhanced service levels for our customers. "Liberty Global offers scale and world class capabilities and will be an outstanding custodian of our business, both for our people and our customers. The years ahead should bring new opportunities for further success, faster growth and enhanced customer benefits, built on the strong foundation we have created. "I would like to take this opportunity to thank all the employees of CWC for their hard work to position our company for success, culminating in the substantial shareholder value creation announced today." Shareholder returnsCWC has created significant value for shareholders over recent years. The market capitalisation of CWC has grown from c.£1.1bn on 21 October 2013 to c.£2.5bn on 21 October 2015, the day before Liberty Global's interest in CWC became public. The total shareholder return over the last two years leading up to this date was c.46% in comparison with c.16% for the FTSE 250 over the same period. Incorporating the headline recommended offer price, CWC's share price has grown to 86.82 pence, implying a total shareholder return of c.119% since 21 October 2013. Further information • Free float shareholders will also have the option to elect for new LiLAC shares in accordance with the LiLAC Alternative or, if they so choose, either of the non-recommended Offers but are advised to consult their financial advisers before so doing • CHLLC, a company controlled by John Malone, has irrevocably undertaken to accept the First Dual Alternative Offer and the Clearwater entities (Clearwater Holding Ltd and CVBI Holding Inc.), being companies controlled by John Risley, and Brendan Paddick have irrevocably undertaken to accept the Second Dual Alternative Offer. The CWC Board is not recommending these two Alternative Offers • Irrevocable commitments to accept the Offers have been received from 36 per cent. of CWC shareholders, including Brendan Paddick, the investment vehicles of John Risley and John Malone • Evercore Partners International LLP ("Evercore") is acting as Lead Financial and Rule 3 Advisor, J.P. Morgan Cazenove ("J.P. Morgan Cazenove") is acting as Financial Advisor and Corporate Broker, and Deutsche Bank AG, London Branch ("Deutsche") is acting as Corporate Broker to CWC • The CWC Directors, who have been so advised by Evercore, consider the financial terms of the Recommended Offer to be fair and reasonable. In providing its advice to the CWC Directors, Evercore has taken into account the commercial assessments of the CWC Directors. Accordingly, the CWC Directors intend unanimously to vote in favour of the Scheme at the Court Meeting and the resolution(s) relating to the Transaction to be proposed at the CWC General Meeting and to elect to receive the Recommended Offer • The transaction will be implemented by way of a two-step, integrated process comprising a Scheme of Arrangement under Part 26 of the Companies Act, followed by a merger by formation of a new company under the Cross Border Regulations and Part 3A of Title 7 of Book 2 of the Dutch Civil Code • It is currently anticipated that shareholder meetings will take place at the end of calendar Q1 or at the beginning of calendar Q2 2016 and completion is expected to take place shortly thereafter • For further details and definitions (capitalised terms have the same meaning as those given to them in the Rule 2.7 announcement), please read the Rule 2.7 announcement released separately today About Cable & Wireless CommunicationsCable & Wireless Communications Plc (CWC) is a full service communications and entertainment provider, operating in Latin America and the Caribbean. With annual sales of over $2.4bn, 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 video services. It has leading market positions in Mobile, Fixed Line, Broadband and Video 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 7,200 employees serving over 6.3 million customers (Mobile 4.1m; Fixed Line 1.1m ; Video 465k and Broadband 680k) 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:www.cwc.com. 1Based on the 10 day volume weighted average prices of the relevant Liberty Global shares on 13 November 2015 and a £ / $ exchange rate of 1.5206 2The Special Dividend will be payable to CWC shareholders on the register at 6pm (London time) on the business day immediately prior to the date on which the Scheme becomes effective 3John Risley, John Malone and Brendan Paddick 4Based on proportionate LTM EBITDA of $668 million 5Proportionate net debt of $2.7 billion as at 30 September 2015 || Paris Attacks Weigh On Bitcoin: EU officials are set to gather in Brussels in order to discuss the Paris attacks and ways to prevent similar situations from occurring in the future. One of the topics on the table for discussion is expected to be bitcoin and its potential to be used as a finance tool for terrorists. The recent crisis in Paris has shined a spotlight on some of the issues that bitcoin has been facing as it becomes a more and more popular tool to conduct financial transactions on the web. While bitcoin enthusiasts say the cryptocurrency's ability to send payments anonymously without a third party intermediary is an important part of its appeal, others believe that bitcoin could be contributing to terror plots and should be more tightly regulated. Related Link: Lasting Market Impacts From The Paris Attacks Trust Issues Bitcoin has long suffered from trust issues as the cryptocurrency has been portrayed as a tool for criminals after an underground marketplace dealing in illegal and illicit bitcoin transactions was exposed last year. The marketplace, called Silk Road, is what some say is only the beginning of the damage that bitcoin can do. Because making transactions with bitcoin can protect the buyer and seller's identities, criminals are better able to solicit and pay for illegal goods and services online. The same, many believe, is true for terrorists. Bitcoin gives them an avenue to send and receive funds undetected as there is no third party intermediary monitoring and verifying those payments. Regulation Could Break Bitcoin However, on the other side of the coin, bitcoin supporters say that too much regulation would eliminate bitcoin's purpose all together. The electronic currency was meant to operate outside of traditional finance in order to make sending money across boarders faster and easier. They argue that placing strict regulations on bitcoin would disrupt the currency's decentralized nature and undo all of the progress that bitcoin technology has made. Related Link: Ben Bernanke Sees Serious Problems With Bitcoin What To Do It is unclear how regulators plan to monitor bitcoin transactions and whether or not their efforts would be successful in thwarting terror plots. Bitcoin isn't the only payment scheme that is believed to be involved in terrorist planning operations either; pre-paid debit cards purchased from stores may also be a threat as they similarly don't require any kind of verification to be used for online payments. See more from Benzinga • 9 IPOs That Fell Flat On Wall Street • 9 Ways To Make Your Retirement Savings Stretch Further • 9 Investment Options For Traders Looking To Add Europe To Their Portfolio © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Patriots, Not Panthers, Are Super Bowl 50 Favorites: What do the Carolina Panthers have to do to get some respect around here? The New England Patriots are still favorites to win Super Bowl 50, despite their loss to the Denver Broncos last Sunday and the Panthers’ status as the NFL’s only remaining undefeated team entering Week 13, according to a popular online sportsbook. Led by starting quarterback Cam Newton, the Panthers trounced the Dallas Cowboys 33-14 on Thanksgiving to improve to 11-0. The Patriots fell to 10-1 and lost superstar tight end Rob Gronkowski to an injury in a 30-24 overtime loss to the Broncos. Even with that loss, the Patriots have 10/3 odds to win Super Bowl 50, according to leading online sportsbook Bovada. Despite their unblemished record, the upstart Panthers are ranked second, with 4/1 odds to win the big game next February. The defending champion Patriots have won four Super Bowls with head coach Bill Belichick and quarterback Tom Brady at the helm, developing an aura of invincibility in the process. Gamblers have bet “probably double the amount of money” on the Patriots to win Super Bowl 50 than any other NFL team this season, according to Kevin Bradley, Bovada’s sportsbook manager. “People still like the Patriots. They like Tom Brady, he’s been there before, he’s won before. I think they just feel he’s proven. If it came down to them playing the Panthers in the Super Bowl, the Patriots would be favorites,” Bradley said. It’s rare for an NFL team that’s still undefeated at this point in the season to not be the favorite to win the Super Bowl. But the Panthers’ dubious distinction has more to do with the public’s trust in the Patriots than any lack of confidence in Carolina’s roster. “I wouldn’t say it’s normal, but the one reason is because it’s the Patriots. If it was any other team, if the Patriots didn’t only have one loss, the Panthers probably would be the favorite,” Bradley said. Bettors are still placing a significant amount of money on the Patriots to win it all despite their Week 12 loss, injuries to Gronkowski and wide receiver Julian Edelman and the relatively small payout afforded by 10/3 odds. But Bovada has taken more bets for historic NFL powerhouses such as the Green Bay Packers, Denver Broncos and the Dallas Cowboys to win this year’s Super Bowl than the Panthers, despite their strong performance. Traditionally, the Panthers have lacked the brand recognition and the nationwide popularity to attract a high volume of wagers, Bradley said. “The Panthers, up until now, no one was betting on them. Every year, no one really bets on them. They’re not a popular team, there’s not a base of Panthers fans around the US,” Bradley said. Still, the Panthers have a chance to join the 2007 Patriots and the 1972 Miami Dolphins as the only teams in NFL history to finish the regular-season undefeated. Carolina has 4/1 odds to go 16-0 this season and 10/1 odds to win the Super Bowl with a perfect 19-0 record, according to Bovada. Not even the Patriots have done that. Related Articles • Oil Plunge Raises Fears of Societal Unrest • Not in Your Grandma’s Wallet: Bitcoin Redefining Money • Yahoo Shares Jump on Internet Spinoff Speculation || Banks expected to adopt new technologies rather than be overrun: NEW YORK (Reuters) - New technology firms are battering all kinds of companies, but banks will remain as financial intermediaries, due to the regulations and duties governments have put on them, says a proponent of the technology behind the bitcoin cryptocurrency. "Regulation keeps them in place. Regulation requires them to perform certain functions," said Mark Smith, chief executive of Symbiont.io, a startup that has emerged from Bitcoin 2.0 and MathMoney f(x) Inc to build a securities trading platform using blockchain technology like that behind bitcoin. Smith predicted that big banks, such as JPMorgan Chase & Co, would adopt new technologies to cut costs for back offices that process loans and match buyers and sellers of securities. "A massive amount of infrastructure just goes away," said Smith, who was speaking on Thursday in a panel discussion held by Thomson Reuters on innovation and disruption in financial services. New competitors are coming into banking from Silicon Valley, JPMorgan's chief executive, Jamie Dimon, warned bank shareholders this year. But he also said JPMorgan had much to learn from them and might enter partnerships with some. JPMorgan worked with Apple Inc on last year's launch of the Apple Pay application for making credit and debit card payments with smartphones. Last month the bank said it would also operate a rival digital wallet called Chase Pay. Later, Smith said his firm expected to sell tools to big banks for securities trading by customers. "We are a disrupter and an enabler as well," he added. Another panel member, Sam Shrauger, senior vice president of digital solutions at card and payments company Visa Inc, said that while cash and paper check transactions give way to electronic messages, "that's not going to change the overarching way that we move money." (Reporting by David Henry in New York; Editing by Clarence Fernandez) || Bitcoin is off to the races again: Bitcoin ATM (REUTERS/Bogdan Cristel) Rotariu uses Romania's first bitcoin ATM in downtown Bucharest The value of bitcoin has rocketed higher since late August, gaining more than 60% as investors around the world clamor to buy into the cryptocurrency . It recently hit new highs for the year. Long-term bitcoin watchers have seen this happen before, and they know that bitcoin rallies can be huge. The last time bitcoin's value began soaring the cryptocurrency went from below $200 in September 2013 to more than $1100 by early 2014. Right now – after the recent gains – bitcoin is trading at around $380. That's right, after that peak last year, bitcoin crashed – badly damaging investor interest. It took more than a year for that interest to return. So what's bringing people back? The digital currency is gaining traction both in the consumer marketplace, as a tradeable security, and with regulators. To illustrate - you can donate to the American Red Cross in bitcoin, buy a new personal computer with it, or even book a holiday. It isn't just digital-currency enthusiasts that are bullish. Equity research firm Wedbush expects it to rise to $600 because of the growing adoption. That target includes a "high discount rate to account for uncertainty," the firm says in a Nov. 4 research note. In other words, there is a lot of risk here, but even factoring that in, the potential exists for a big gain. “We’re crossing the chasm from early enthusiasts to mainstream adoption," says Adam White, a vice president of business development with bitcoin exchange Coinbase. Screen Shot 2015 11 05 at 6.07.28 PM (Wedbush Securities) Payments with bitcoin have been on the rise — as has the value of bitcoin, as an investment. As more people use bitcoin, retailers have become increasingly welcoming of it. Companies including Dish, Microsoft, Dell and Expedia are accepting cryptocurrency as payment. Perhaps most crucial: payments startups and legacy players including Square, Stripe, and PayPal are integrating it into their offerings. Story continues Regulation is evolving Regulators in the US and internationally are embracing bitcoin now, instead of fearing — or, worse still, thwarting — it. "What there needs to be is greater regulatory clarity," said Jerry Brito, executive director at Washington-based advocacy group Coin Center. "It's a very different world than it was in 2013." Bitcoin legislation is being readied in several US states, Brito said. In October, a consortium of startups announced the establishment of the Blockchain Alliance , a partnership between bitcoin companies and US and foreign agencies including the Department of Justice, FBI and the Commodity Futures Trading Commission, among others. Last month, the European Court of Justice said bitcoin transactions will be exempted from a consumer tax, which could lead to even greater use of the cryptocurrency. Another big step, yet to come, would be the declaration of bitcoin by US regulators as a security. Big investors are buying in Another factor lending greater legitimacy to bitcoin is the investment capital being poured into related startups. Recently, the total dollar volume backing startups in the sector crossed the $1 billion threshold . But the investors behind the money have also increased bitcoin's visibility. The roster of bitcoin startup backers includes Wall Street investment banks ; the New York Stock Exchange and NASDAQ; and leading credit and debit card companies including Visa, MasterCard and Capital One. " The global banks and wire-houses have meaningfully gotten involved in the space," said Michael Sonnenshein, director of business development and sales at Grayscale Investments, which manages the Bitcoin Investment Trust, a publicly listed vehicle that tracks bitcoin . "In 2013, they were beginning to dip their toe, but primarily behind closed doors and within internal working groups." There are still lingering issues surrounding bitcoin's validity. To be sure, it is volatile and – because its loosely regulated – a draw for frauds and criminals. Some big names in the crytptocurrency community — perhaps most notably Blythe Masters, the CEO of Digital Asset Holdings — have been critical of bitcoin and say the underpinning blockchain technology is actually what's most sexy to Wall Street. But right now, to many investors, bitcoin is hot. And it could stay that way. NOW WATCH: Everyday phrases that even smart people say incorrectly More From Business Insider The Money Of The Future Will Look More Like Bitcoin Than The Paper We Carry Around Today Bitcoin hit a new high for 2015 The Winklevoss twins tell us why they believe Bitcoin will come to dominate global finance || 4 stocks to watch after volatile week: After a rough week for U.S. stocks, "Fast Money" traders looked at companies that may hold upside into next year. The major averages all lost more than 3 percent this week, with the Nasdaq (NASDAQ: .IXIC) taking the biggest hit, falling about 4 percent. Amid the struggles, trader Tim Seymour looked to retail giant Wal-Mart (NYSE: WMT) , the worst performer in the Dow in 2015. It has fallen 30 percent this year, mostly on disappointing guidance. Considering the stock's price and strong same-store sales growth in the third quarter, Wal-Mart looks "defensive," he said. Trader Brain Kelly touted BlackBerry (Toronto Stock Exchange: BB-CA) , another beaten down stock which has plunged 30 percent this year. He said the company has started to "pick up a little momentum" on sales, and should benefit as a player in the connected car space. Other traders saw continued upside for names beating broader markets this year. Shares of tobacco company Reynolds American (NYSE: RAI) — which have climbed 38 percent this year to trade around $44.50 — could "easily" rise to $55, said trader David Seaburg. Trader Guy Adami saw upside for MasterCard (NYSE: MA) , which he said has "tailwinds" moving into next year and gets a boost from a recent increase in capital return. The stock has climbed 10 percent this year. Disclosures: Tim Seymour Tim Seymour is long AAPL, BAC, CLF, DIS, F, FCX, GE, GM, GOOGL, INTC, JCP, JPM, KO, LGF, RL, T, TWTR, VRX. Tim's firm is long BABA, BIDU, MCD, NKE, SBUX, YHOO. David Seaburg No conflict Brian Kelly Brian Kelly is long BBRY, Bitcoin, GDX, GLD, Hong Kong Dollar, TLT, US Dollar; he is short Yuan, Candaian Dollar, GSG, EEM, EWC, EWH, SPY Guy Adami Guy Adami is long CELG, EXAS, INTC, Guy Adami's wife, Linda Snow, works at Merck. More From CNBC Top News and Analysis Latest News Video Personal Finance View comments || Anarchists love 2015's best performing asset: Gold is down nearly 10 percent, major U.S. stock indexes are roughly flat and energy commodities have nearly all fallen more than 30 percent: It's been a tough year for investors. And while individual stocks have seen big pops on headlines, perhaps the best performing non-equity asset of the year is a favorite among crypto-anarchists. Bitcoin(: BTC=), the digital currency heralded as a potential successor to the global monetary system, is up about 37 percent against the U.S. dollar since the beginning of the year. The cryptocurrency went for about $313 at the beginning of the year, according to CoinDesk's composite price index, and is now changing hands at around $430. Those huge gains come after starting the year on rocky footing: Bitcoin dipped to below $175 in mid-January. But after a few false starts, the digital currency has been largely gaining ground since the beginning of October. (One of the few investment options with a comparable 2015 return is Argentina's benchmark Merval — up about 40 percent on the year. Although U.S. investors playing the Global X Argentina ETF would be disappointed by the fund's slight loss in 2015.) It's hard to say what's actually caused Bitcoin's rise during the last three months of 2015. In November,digital ecosystem observers told CNBCthat a 70 percent one-month spike may have been caused in part byheadlines like theWinklevoss twins launching their exchangeand the Digital Currency Groupannouncing fundingfrom Bain andMasterCard.Others suggestedthat the relatively lightly traded asset could have been jumping on speculators' fear of missing out (FOMO). For Brendan O'Connor, the CEO of bitcoin trading firm Genesis Global Trading, the year-end run up was the result of a series of positive trends for the asset. On the one hand, O'Connor said, funding announcements from bitcoin-related start-ups helped to establish the legitimacy of the sector — and its underlying technology. This has helped push institutional investors into making investments in both the digital token and the over-the-counter Bitcoin Investment Trust (more on that ETF-like vehicle can be found here). "They're looking for investments in non-correlated asset classes," O'Connor said, explaining that financial firms regularly come to his office to learn how to trade bitcoin. "I still think that by and large they're viewing it as a speculative investment, but I think that their willingness to test the waters has increased dramatically." Another important trend in the space has been the gradually increasing interest the technology — and it's negligible fee structure — for remittance payments and as a daily currency in monetarily challenged parts of the world, O'Connor said. That potential came to the forefront of the tech discussion during the summer's Greek crisis: When the country instituted capital controls in the face of increasingly dire eurozone negotiations,countlessarticleswerewrittenaboutbitcoin'spotentialforstrugglingcitizens. It's unclear if those prophecies ever came to any real fruition, but investors in the space say the positive press coverage at least boosted awareness of bitcoin's potential. Finally, bitcoin may have simply benefited from the lack of any disastrous headlines. Many traders say the cryptocurrency has shed the pall offailed exchange Mt. Gox— which quickly shuttered in 2014 after saying it lost 850,000 bitcoins (worth about $365 million today). Bitcoin's fall from more than $1,150 near the end of 2013 to this January's $200 levels represented the asset's "long winter," according to economist Tuur Demeester, editor-in-chief of bitcoin-focused Adamant Research. The story of 2015, therefore, has been a bottoming out for the digital asset, and a climb to revaluation. Bitcoin's fall from its highs, Demeester said, was the result of "bubblicious" investing in 2013 (with some help from Mt. Gox). Pricing levels remained depressed for so long because companies had become over-leveraged, and so had been squeezed into heavy bitcoin selling, he said. As for 2016, Demeester suggested that the cryptocurrency could likely see another leg up as newly confident investors seek the right market valuation. "But," he said, "with bitcoin you have to expect to be surprised." More From CNBC • Top News and Analysis • Latest News Video • Personal Finance || SEC Charges Bitcoin Mining Firm in Ponzi Scheme: The U.S. Securities and Exchange Commission (SEC) charged two Bitcoin mining companies and their founder with conducting a Ponzi scheme that used the lure of quick riches from virtual currency to defraud investors. The complaint was filed in federal court in Connecticut. “Mining” for Bitcoin or other virtual currencies can be described as applying computer power to try to solve complex equations that verify a group of transactions in that virtual currency. The first computer or collection of computers to solve an equation is awarded new units of that virtual currency. The SEC alleges that Homero Joshua Garza perpetrated the fraud through his Connecticut-based companies GAW Miners and ZenMiner by purporting to offer shares of a digital Bitcoin mining operation. ALSO READ:Is Best Buy Making an Offer That Consumers Can't Refuse? However, GAW Miners and ZenMiner actually did not own enough computing power for the mining it promised to conduct, so most investors paid for a share of computing power that never existed. Returns paid to some investors came from proceeds generated from sales to other investors. Paul G. Levenson, director of the SEC’s Boston Regional Office, said: As alleged in our complaint, Garza and his companies cloaked their scheme in technological sophistication and jargon, but the fraud was simple at its core: they sold what they did not own, misrepresented what they were selling, and robbed one investor to pay another. ALSO READ:Jefferies Has 4 Blue Chip High-Dividend Franchise Picks to Buy Now According to the SEC’s complaint: • From August 2014 to December 2014, Garza and his companies sold $20 million worth of purported shares in a digital mining contract they called a Hashlet. • More than 10,000 investors purchased Hashlets, which were touted as always profitable and never obsolete. • Although Hashlets were depicted in GAW Miners’ marketing materials as a physical product or piece of mining hardware, the promised contract purportedly entitled the investor to control a share of computing power that GAW Miners claimed to own and operate. • Investors were misled to believe they would share in returns earned by the Bitcoin mining activities when in reality GAW Miners directed little or no computing power toward any mining activity. • Because Garza and his companies sold far more computing power than they owned, they owed investors a daily return that was larger than any actual return they were making on their limited mining operations. • Therefore, investors were simply paid back gradually over time under the mantra of “returns” out of funds that Garza and his companies collected from other investors. • Most Hashlet investors never recovered the full amount of their investments, and few made a profit. Related Articles • Costco Refreshes Cyber Monday Offers • Top Analyst Upgrades and Downgrades: Fitbit, GE, Lockheed Martin, Lululemon, Marriott, Microsoft, Philip Morris, SLM and More • America's Best and Worst States to Live In [Random Sample of Social Media Buzz (last 60 days)] In the last 10 mins, there were arb opps spanning 15 exchange pair(s), yielding profits ranging between $0.00 and $240.45 #bitcoin #btc || LIVE: Profit = $405.29 (4.81 %). BUY B20.48 @ $420.00 (#VirCurex). SELL @ $432.00 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org  || $340.00 #bitfinex; $339.63 #coinbase; $338.69 #bitstamp; $334.10 #btce; #bitcoin #btc via #ThePriceOfBTCpic.twitter.com/Z0M5RHDg6X || In the last 10 mins, there were arb opps spanning 16 exchange pair(s), yielding profits ranging between $0.00 and $2,265.81 #bitcoin #btc || $386.97 at 06:00 UTC [24h Range: $377.48 - $392.82 Volume: 18773 BTC] || BTCTurk 951.16 TL BTCe 331.1 $ CampBx $ BitStamp 332.00 $ Cavirtex 449.88 $ CEXIO 337.78 $ Bitcoin.de 314.96 € #Bitcoin #btc || $434.93 at 18:30 UTC [24h Range: $433.00 - $443.58 Volume: 8321 BTC] || #RDD / #BTC on the exchanges: Cryptsy: 0.00000004 Bittrex: 0.00000003 Average $1.4E-5 per #reddcoin 09:00:01 || One Bitcoin now worth $464.00@bitstamp. High $465.90. Low $457.95. Market Cap $ 6.951 Billion #bitcoin pic.twitter.com/7fbBrqisXB || In the last 10 mins, there were arb opps spanning 16 exchange pair(s), yielding profits ranging between $0.00 and $779.44 #bitcoin #btc
Trend: down || Prices: 429.11, 458.05, 453.23, 447.61, 447.99, 448.43, 435.69, 432.37, 430.31, 364.33
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 2017-08-10] BTC Price: 3381.28, BTC RSI: 67.74 Gold Price: 1283.70, Gold RSI: 67.92 Oil Price: 48.59, Oil RSI: 54.05 [Random Sample of News (last 60 days)] 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 || 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. 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. 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 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 Thisarticlewas originally posted on FX Empire • 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 || The Rise and Fall (And Rise and Fall) of Ethereum: InvestorPlace - Stock Market News, Stock Advice & Trading Tips The big cryptocurrency story of 2017 is notBitcoin. It’sEthereum. The cryptocurrency, sometimes called ether and abbreviated as ETH, was first described in a paper by Bitcoin programmer Vitaly Buterin in 2013. The software was developed by a Swiss company in early 2014, and the market opened on July 22, 2014, less than three years ago. Source: Shutterstock Hacking and development disputes led to a split in the blockchain in July 2016. There are now two cryptocurrencies carrying the Ethereum name — ETH and Ethereum Classic, or ETC. Don’t be confused, many are. The market cap for ETH is $25.6 billion, but just $1.67 billion for ETC. The difference lies in the perceived superiority of Ethereum’s blockchain technology. The Ethereum blockchain can reportedly resist attack from hackers, and handle many simultaneous transactions, unlike rival Bitcoin, where clearing of trades can be difficult, time-consuming and costly. Another difference is that there’s something you can buy with Ethereum, startups launched through Initial Coin Offerings orICOs. By offering stock for coins, rather than dollars, blockchain startups attracted capital that grows in value, and Ethereum speculators gained a bigger market. • Should You Buy Bitcoin? 3 Pros, 3 Cons While the ICOs were meant to take speculation out of the currency, removing coins from circulation by turning them back into real money, they seem to have had the opposite effect. Retail investors around the world, seeing big profits in cryptocurrency investments, have piled in to Ethereum, like day traders in the 1990s. They have overwhelmed the liquidity of some Ethereum markets, creatingflash crashes, and a bubble in companies that took coins as their start-up capital, as well as the coins themselves. Some of the companies that used ICOs for start-up capital are bound to fail, like old oil wildcatters with dry holes. The rush of institutions, including venture capitalists, into the business of Ethereum trading has only made the whole structure more volatile. The result was that the value of a single token peaked at nearly $400 in early June, plunged by one-third to $267 on July 27, rose briefly to $328 a few days later, and opened on July 6 at about $275. Ethereum boosters predict the currency will soon be worth $1,000 per token, but the short-term technical charts remained a mess as this was written. The desire of credit card processors to get ahead of the fintech boom is leading to lots of mergers in the sector. The latest isVantiv Inc(NYSE:VNTV) agreeing to spend $10 billion to buyWorldpay Group, at 382 UK pence per Worldpay share. The deal is considered a “Brexit bargain,” but it’s also a defensive move by Vantiv, since WorldPay hasa lot of small-business and e-commerce clients. That price may be whySquare Inc(NYSE:SQ) — a processor focused on small businesses that has never made money but did $1.7 billion in business during 2016, and $461.55 million in the March quarter — is up 80% so far this year and is now worth $9.3 billion, meaning its acquisition would likely come at an even higher price than Worldpay’s. • Vitalik Buterin: 7 Things to Know About the Ethereum Co-Founder The biggest pure merchant processor,First Data Corp(NYSE:FDC), currently has a $16.8 billion valuation with trailing-year revenue of $11.584 billion, and a profit. The former CEO ofBarclays PLC (ADR)(NYSE:BCS), Anthony Jenkins, warns that banks which refuse to embrace fintech facea “Kodak moment”— a point where they suddenly become irrelevant to their customers. Jenkins was fired by Barclays in late 2015 and has since launched his own fintech start-up,10X Banking, which aims to eliminate paperwork in areas like opening accounts and making loans. Dana Blankenhornis a financial and technology journalist. He is the author of the historical mystery romanceThe Reluctant Detective Travels in Time, available now at the Amazon Kindle store. Write him [email protected] follow him on Twitter at@danablankenhorn. As of this writing, he owned no shares of companies mentioned in this story. To follow the value of cryptocurrencies, bookmarkhttps://coinmarketcap.com/. • The 10 Best Stocks to Buy for the Rest of 2017 • 7 High-Yield Dividend Stocks for Aggressive Investors • 8 Mergers That Could Dethrone Amazon The postThe Rise and Fall (And Rise and Fall) of Ethereumappeared first onInvestorPlace. || Bitcoin nearly hits $3,000 before plunging: (Markets Insider) Bitcoin's wild ride is continuing on Monday. The cryptocurrency climbed to a lifetime high of $2,999.97 a coin in overnight action, but it has seen a sharp drop from its highs. It's now trading down by $286, or 9.7%, at $2,666 a coin. Monday's action comes without any real catalyst, as trade appears to be fueled bybuying in Asia. Recently, China's three largest bitcoin exchangeslifted their ban on clients' withdrawals. Additionally, Japan's government announced in early April that bitcoin had been approved as alegal payment methodin the country. Bitcoin has gained 187% this year. Its meteoric rise has prompted tech billionaireMark Cuban to call it a "bubble."Last Tuesday, Cuban tweeted: "I think it's in a bubble. I just don't know when or how much it corrects. When everyone is bragging about how easy they are making $=bubble." The market continues to await the US Securities and Exchange Commission's ruling on an exchange-traded fund started by the Winklevoss twins. Back in March,the SEC rejected that ETF along with another. It has since taken public comment on its decision regarding the Winklevoss twins' ETF, but it has not made an additional ruling. NOW WATCH:HENRY BLODGET: Bitcoin could go to $1 million (or fall to $0) More From Business Insider • A look at the demanding schedule of Elon Musk, who works in 5-minute slots, skips breakfast, and largely avoids emails • MARK CUBAN: Bitcoin is a 'bubble' • Bitcoin soars to a new high || Bitcoin nearly hits $3,000 before plunging: (Markets Insider) Bitcoin's wild ride is continuing on Monday. The cryptocurrency climbed to a lifetime high of $2,999.97 a coin in overnight action, but it has seen a sharp drop from its highs. It's now trading down by $286, or 9.7%, at $2,666 a coin. Monday's action comes without any real catalyst, as trade appears to be fueled bybuying in Asia. Recently, China's three largest bitcoin exchangeslifted their ban on clients' withdrawals. Additionally, Japan's government announced in early April that bitcoin had been approved as alegal payment methodin the country. Bitcoin has gained 187% this year. Its meteoric rise has prompted tech billionaireMark Cuban to call it a "bubble."Last Tuesday, Cuban tweeted: "I think it's in a bubble. I just don't know when or how much it corrects. When everyone is bragging about how easy they are making $=bubble." The market continues to await the US Securities and Exchange Commission's ruling on an exchange-traded fund started by the Winklevoss twins. Back in March,the SEC rejected that ETF along with another. It has since taken public comment on its decision regarding the Winklevoss twins' ETF, but it has not made an additional ruling. NOW WATCH:HENRY BLODGET: Bitcoin could go to $1 million (or fall to $0) More From Business Insider • A look at the demanding schedule of Elon Musk, who works in 5-minute slots, skips breakfast, and largely avoids emails • MARK CUBAN: Bitcoin is a 'bubble' • Bitcoin soars to a new high || Two major indices are poised for a pullback, analyst says: With the Dow Jones Industrial Average (Dow Jones Global Indexes: .DJI) approaching the 22,000 mark, both the Dow and Dow Transports (Dow Jones Global Indexes: .DJT) are due for a pullback. "This would be a natural place for a pullback for both of the major indices, and I say that in part for the Dow Industrials," Katie Stockton, chief technical strategist at BTIG, said Tuesday on CNBC's " Power Lunch ." "If you look at a one-year chart, you can see that they're approaching some resistance or potential resistance around 22,000. That's a round number." "You'll notice at past round numbers — 21,000, 20,000 — there was some short-term resistance at those levels, so it would be a very natural place to see a pullback for the Dow Industrials and for the S&P 500 (INDEX: .SPX) ," Stockton said. Stockton also dismissed concerns about the divergence between Industrials and Transports influencing a pullback. "I know a lot of people talk about Dow theory, whenever you get a divergence between the Transports and the Industrials, but I wouldn't read too much into it," Stockton said. "I think that Transports, while they might exhibit downside leadership during pullback, I don't see it as a big warning signal here." The technical analyst also noted that overbought stocks such as stocks in technology and transports have been major Dow leaders, but may have a reason to be concerned. "I am concerned about the mean reversion we have already started to see, where the overbought stocks — like the Facebooks (NASDAQ: FB) of the world, or the Boeings (NYSE: BA) of the world — that have really run up, they're looking somewhat overextended here," Stockton said. "Whereas you're catching a bid in the more oversold areas in the market, say, energy, or retail," she said, "so I think that will persist. But really just for the next couple weeks, and that then will ultimately give way to a buying opportunity." More From CNBC Dish Network becomes latest telecom stock to spike on report SoftBank may buy it Bitcoin 'mining' goes from enthusiasts to giant enterprises Goldman CFO: Market for bond trading has not improved since second quarter || TECH STOCKS FALL: Here's what you need to know: (Flickr/Alpha) US stocks and bonds fell on Thursday, a day after the Federal Reserve's decision toraise interest ratesand maintain its outlook for one more hike this year. The tech-heavy Nasdaq led declines among the major indexes. Here's the scoreboard: • Dow:21,359.90, -14.66, (-0.07%) • S&P 500:2,432.46, -5.46, (-0.22%) • Nasdaq:6,165.50, -29.39, (-0.47%) • 10-year yield:2.162%, +0.024 1. Snap sank to its initial offering price of $17 for the first timeand closed exactly there. Many of the banks that underwrote the company's popular IPO have become bearish on the stock. 2. Bitcoin had its biggest drop in more than two years.The cryptocurrency fell by as much as 12.9%, to $2,161 a coin, its lowest since the beginning of June. 3. Nestle is thinking about selling its roughly $900 million-a-year US candy business. The world's largest packaged foods maker said on Thursday it would "explore strategic options," including a possible sale, amid a consumer shift towards healthier foods. 4. Nike said it would cut 2% of its global workforce and discontinue a quarter of its shoe styles as competition mounts. Nike shares fell 3%. 5. Alphabet fell after a rare downgrade.In a research note published Thursday, Canaccord said a lot of Alphabet's growth in mobile search and YouTube "will be hard to repeat." 6. Initial jobless claims, which count people who applied for unemployment insurance for the first time, last week fell more than expected by 8,000 to 237,000, according to the Labor Department. Additionally: A predictor with a perfect track record on the American economy is moving closer to signaling a recession Don't expect the market's hottest stocks to cool down any time soon Super-rich millennials are defying the way their parents have been investing for decades Janet Yellen is starting to warm to a policy the Fed once regarded as radical The Fed's 4th rate hike could challenge a popular assumption investors make about stocks LARRY SUMMERS: 'The Fed is not credible with the markets' NOW WATCH:An economist explains the key issues that Trump needs to address to boost the economy More From Business Insider • STOCKS RISE: Here's what you need to know • TECH GETS WHACKED AGAIN: Here's what you need to know • TECH GETS SLAMMED: Here's what you need to know || 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) || The hottest trend in cryptocurrencies was just dealt a big blow: Servers for data storage are seen at Advania's Thor Data Center in Hafnarfjordur, Iceland August 7, 2015. REUTERS/Sigtryggur Ari/File Photo (Servers for data storage are seen at Advania's Thor Data Center in Hafnarfjordur, IcelandThomson Reuters) The hottest trend in cryptocurrency was just dealt a serious blow. On Monday, cryptocurrency trading startup CoinDash reported its site was hacked during an initial coin offering, according to reporting from Bloomberg's Alexandria Arnold . $1.2 billion has been raised by the new cryptocurrency-based capital raising method this year, according to Autonomous NEXT, a financial technology analytics firm . It is a trend that has sparked excitement across Wall Street. A number of startups have used ICOs to raise capital. Gnosis, a prediction market for digital currency Ethereum, raised $12 million in just 10 minutes in April. Brave, a new web browser startup set up by the founder of Mozilla, made that look pedestrian, raising $35 million in less than 30 seconds selling "Basic Attention Tokens" last month. But the hack, which redirected $7 million worth of ether, provides a reason for folks to be skeptical of the red-hot investment vehicle. "Investors had been instructed to pay with Ethereum and send funds to the token sale’s smart contact address. In an email, CoinDash said it appeared that the sending address was hacked and changed to a fraudulent address," Bloomberg's Arnold wrote. Wall Street skeptics were quick to cite the rapid appreciation of cryptocurrencies like bitcoin and ether tokens as one reason initial coin offerings are a bad concept. David Rutter, a Wall Street vet who heads R3CEV, a fintech startup, previously told Business Insider: "There’s approximately 200 coins now. If you had an analyst look at it, this is a typical kind of bubble, in that folks that have made money in bitcoin are trying to parlay that into other kinds of cryptocurrencies and now they’re moving out of those." CoinDash, however, is resolute that it will overcome this hiccup. "This was a damaging event to both our contributors and our company but it is surely not the end of our project," the firm said in a statement. "We are looking into the security breach and will update you all as soon as possible about the findings." NOW WATCH: A $16B hedge fund CIO explains what it takes to work at a hedge fund today More From Business Insider Bitcoin is on a tear amid signs that its civil war is coming to an end ETHEREUM COFOUNDER: There is 'a ticking time bomb' in cryptocurrencies Startups are enjoying a goldrush selling digital coins online — but can you tell the real one from the fakes? View comments || Goldman Sachs: This is Bitcoin’s Sweet Spot: Even though Bitcoin has been called a bubble , investors who have hungrily watched Bitcoin’s price soar 290% over the past year from the sidelines still have a chance to win big. Or at least that’s according to analyst Sheba Jafari. On Sunday, the banking giant sent a note seen by CNBC that said Bitcoin, now priced at $2,568 a piece, could fall as low as $1,857 before bouncing to a much higher valuation between $3,212 to $3,915. That means if an investor watches the cryptocurrency carefully and times it perfectly, they could gain as much as 110% on their initial investment. Granted, that would take quite a bit of patience, with Goldman acknowledging that “it might take time” to hit $3,915. Read: Can Bitcoin's First Felon Help Make Cryptocurrency a Trillion-Dollar Market? If Bitcoin were to hit $3,915, then that would add another $22 billion in market capitalization to cryptocurrency, which is up 53% from Bitcoin’s current market capitalization of $42 billion. That comes as the cryptocurrency has fallen from a high of just over $3,000 in mid-June, with investors, including Mark Cuban, warning that Bitcoin’s price has already peaked . See original article on Fortune.com More from Fortune.com Bitcoin Nears Bear Market Territory What Bitcoiners Are Doing to Fight Ransomware Here's When You Should Buy Bitcoin and Ethereum VC Firm Homebrew Considering an ICO to Raise its Next Fund Bitcoin Exchange Hacker Sentenced to Nearly 6 Years in Prison [Random Sample of Social Media Buzz (last 60 days)] #Bitcoin 0.03% Ultima: R$ 8792.55 Alta: R$ 8840.00 Baixa: R$ 8760.01 Fonte: Foxbit || Over 20% of investors in the U.S. and China are still not familiar with #bitcoin or cryptocurrency at all http://www.financemagnates.com/cryptocurrency/education-centre/monexs-global-survey-reveals-bitcoin-investors-still-tiny-minority/ … || One Bitcoin now worth $3150.00@bitstamp. High $3230.00. Low $2825.00. Market Cap $51.939 Billion #bitcoin pic.twitter.com/vxRfnNO4qq || “The Future of #Bitcoin Conference 2017 Arnhem” http://buff.ly/2sfJMqm  #Blockchain || $2326.49 at 05:00 UTC [24h Range: $2223.00 - $2402.50 Volume: 16198 BTC] || Re: [ANN] [SUMO] SUMOKOIN - Digital Cash For High-Confidential Transactions : Quote from: sum.. #bitcoin #btc http://dld.bz/fPKFd  || Hoy plática sobre "Bitcoin" en la Universidad de Sotavento. 17:00 hrs. Entrada libre @UNIDESOTAVENTO #Criptomonedas #sotaventopic.twitter.com/ww81PfYj2F || BTC Real Time Price: ThePriceOfBTC: $2457.56 #GDAX; $2450.90 #bitstamp; $2438.00 #gemini; $2443.42 #kraken; $2440.00 #btce; $2477.24 #itBit… || [updt] Okcash added to LiteBit.eu at https://okcashtalk.org/index.php/topic,2107.msg2683.html#msg2683 … #Okcash $OK #Bitcoin #Altcoins #okcashtalkpic.twitter.com/xjoGLERceX || New post: ""We're here because we believe in Bitcoin and it's potential to enable and transform mankind" - We can'… http://ift.tt/2ts7AGV 
Trend: up || Prices: 3650.62, 3884.71, 4073.26, 4325.13, 4181.93, 4376.63, 4331.69, 4160.62, 4193.70, 4087.66
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 2018-04-05] BTC Price: 6811.47, BTC RSI: 34.06 Gold Price: 1324.30, Gold RSI: 48.21 Oil Price: 63.54, Oil RSI: 51.53 [Random Sample of News (last 60 days)] South Korea regulator flags better deal for cryptocurrency industry: By Dahee Kim SEOUL (Reuters) - A better deal for South Korea's cryptocurrency industry might be in the offing as the market regulator changes tack from its tough stance on the virtual coin trade, promising instead to help promote blockchain technology. The regulator said on Tuesday that it hopes to see South Korea - which has become a hub for cryptocurrency trade - normalize the virtual coin business in a self-regulatory environment. "The whole world is now framing the outline (for cryptocurrency) and therefore (the government) should rather work more on normalization than increasing regulation," said Choe Heung-sik, chief of South Korea's Finance Supervisory Service (FSS), told reporters. The latest news suggests authorities might adopt a lighter regulatory touch, a step change from the justice minister's warnings in January that the government was considering shutting down local cryptocurrency exchanges, throwing the market into turmoil. FSS has been leading the government's regulation of cryptocurrency trading as part of a task force. Cryptocurrency operators see Choe's comments as positive step for the industry's plans for self-regulation. "Though the government and the industry have not yet reached a full agreement, the fact that the regulator himself made clear the government's stance on co-operation is a positive sign for the markets," said Kim Haw-joon of the Korea Blockchain Association. South Korea banned the use of anonymous bank accounts for virtual coin trading as of January 30 to stop cryptocurrencies being used in money laundering and other crimes. Three local banks including Shinhan Bank, Industrial Bank of Korea, NH Bank, are currently offering cryptocurrency accounts to around five local virtual coin exchanges. Choe said that Kookmin Bank and KEB Hana Bank may have also put in place an appropriate system, though they haven't as yet started handling transactions. Story continues "I hope they (the banks) no longer fear authorities once they have the right system," Choe added. An official from FSS told Reuters tough regulatory oversight of illegal trade in cryptocurrencies will remain in place. Bitcoin <BTC=BTSP>, the world's most heavily traded cryptocurrency, is now changing hands at a three-week high of $11,160 on the Luxembourg-based Biststamp exchange after falling as low as $5,920.72 in early February. South Korean electronics giant Samsung has already started production of cryptocurrency mining technologies, local media reported in January. (Reporting by Dahee Kim; Editing by Eric Meijer & Shri Navaratnam) || 3 Looming Threats for NVIDIA Corporation: NVIDIA(NASDAQ: NVDA)recently beat analyst estimates on both the top and bottom lines for the tenth straight quarter. Its fourth-quarter revenue rose 34% annually to $2.91 billion, beating expectations by $230 million, as its non-GAAP net earnings jumped 52% to $1.72 per share, topping estimates by $0.56. The chipmaker's core businesses were firing on all cylinders, with triple-digit growth in data center revenues, double-digit growth in gaming and professional visualization revenues, and single-digit growth in its automotive, OEM, and IP revenues. Its non-GAAP gross margin also expanded 190 basis points annually to 62.1%. NVIDIA CEO Jensen Huang. Image source: NVIDIA. Yet NVIDIA's stock barely budged after that report. The tepid response may have been caused by a wobbly market, profit taking after the stock's massive rally over the past 12 months, or valuation concerns. However, investors should still recognize three looming threats which could hurt NVIDIA in the near future. Sales of NVIDIA's GPUs surged over the past year as cryptocurrency miners placed bulk orders of its high-end CPUs. That growth was a double-edged sword for NVIDIA, since it caused a GPU shortage for its core PC gaming market. Meanwhile, resellers sold GPUs at grossly inflated prices online, whichangered and alienatedgamers. During last quarter's conference call, NVIDIA CEO Jensen Huang stated that the company was "doing everything" it could to increase the market supply. But here's the problem -- bitcoin and several other cryptocurrencies stumbled over the past month, raising concerns about a bubble popping. If the miners who have been hoarding GPUs exit the market, they could flood the market with used GPUs at below-market prices. This would cause a supply glut, which NVIDIA could exacerbate by increasing the supply of new GPUs. NVIDIA controlled 73% of the discrete GPU market during the third quarter of 2017 according to Jon Peddie Research. The remaining 27% was held byAMD(NASDAQ: AMD). Image source: Getty Images. But in the near future,Intel(NASDAQ: INTC)coulddisrupt that duopolywith its own discrete GPUs. Intel revealed those plans late last year, and hired Raja Koduri, the former chief of AMD's Radeon unit, to lead the effort. It's unclear when Intel's discrete GPUs will arrive, but they could be competitively priced and optimized to work with Intel's high-end CPUs. If Intel bundles its GPUs and CPUs together -- or even integrates the two technologies into a single chip, like AMD's APUs (accelerated processing units) -- NVIDIA might start losing customers. AMD's new Ryzen 5 2400G and Ryzen 3 2200G chips are also APUs. Gizmodo's Alex Cranzrecently declaredthat the chips were so graphically powerful that customers could "skip the graphics card." That's not surprising, since AMD's APUs also power the PS4 and Xbox One. Since AMD's new APUs cost about $70 to $80 less than Intel's comparable CPUs (which must be paired with a discrete GPU to offer comparable graphics performance), they could be appealing to PC gamers who want to simultaneously upgrade their CPUs and GPUs -- which would be bad news for NVIDIA. NVIDIA enjoyed a first-mover's advantage in the automotive market with its Tegra CPUs, which power infotainment and navigation systems in high-end cars. Its Tegra-powered Drive PX platform also powers driverless vehicles. Image source: NVIDIA. However, NVIDIA's automotive revenues only grew 3% annually during the fourth quarter. That represents a significant slowdown from its 13% growth in the third quarter and 19% growth during the second quarter. That slowdown is troubling, since NVIDIA faces a lot of competition in this market. NXP(NASDAQ: NXPI), the biggest automotive chipmaker in the world, offers BlueBox, a rival autonomous platform to Drive PX.Qualcomm(NASDAQ: QCOM), the world's top mobile chipmaker and producer of rival chips for auto platforms, plans to buy NXP. To further complicate matters,Broadcomis attempting ahostile takeoverof Qualcomm. Intel, which owns computer vision chipmaker Movidius and ADAS (advanced driver assistance systems) leader Mobileye, is another troublesome challenger. Intel's Atom Automotive chips challenge NVIDIA's Tegra chips, and it's currently partnered withBMWandFiat Chryslerto produce a new self-driving platform by 2021. If NVIDIA doesn't keep its eye on the ball, it could lose the auto market to these challengers. I'm still bullish on NVIDIA's long-term prospects. However, investors should identify the wrenches -- in the cryptocurrency, GPU, and automotive markets -- which could be tossed into its main growth engines. 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 Leo Sunhas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Nvidia. The Motley Fool owns shares of Qualcomm. The Motley Fool recommends Broadcom Ltd, Intel, and NXP Semiconductors. The Motley Fool has adisclosure policy. || Why Starbucks Shareholders Have Nothing to Worry About: Starbucks (NASDAQ: SBUX) shares fell a bit after the company reported its first-quarter earnings. That drop was likely because same-store growth in the United States only came in at 2%, and that was due to higher prices, not an increase in customers. The numbers fueled concerns that the company has maxed out its market share and audience in its home country. That may be true for the chain's current format, but big changes are coming that will expand U.S. opportunity for the coffee chain. SBUX Chart Chart source: YCharts . Premium will bring growth In most of the U.S., it's fair to say that the coffee chain has maxed out its opportunities for new stores. In fact, a recent report from BMO Capital Markets found that the average Starbucks location has 3.6 other Starbucks cafes within a one-mile radius. That's certainly saturation when it comes to growing via adding new stores. Or, if you look at it another way, it's an impressive retail platform to launch new products that will drive same-store growth. Starbucks plans to do that as it rolls out its premium brand. A glass of coffee is on a wooden board next to a glass of water. Starbucks has developed new products in its Roastery. Image source: Getty Images. What is Starbucks premium? Starbucks launched its premium model with its Roastery in Seattle. That location provided the model and a testing ground for more Roasteries. Along with those Roastery locations -- essentially temples/theme parks for coffee lovers -- the company is going to open about 1,000 Reserve stores and add Reserve bars to about 20% of its locations. Reserve locations offer a selection of higher-end products developed by the Roastery ( soon to be Roasteries ). It's an effort so crucial to the brand that former CEO Howard Schultz is leading the expansion effort. "Starbucks Roasteries under design or construction in the iconic, global cities of Shanghai, New York, Tokyo, Milan, and Chicago will join our Seattle Roastery in delivering an immersive, ultra-premium, coffee-forward experience like none other anywhere in the world," said Executive Chairman Schultz in the chain's second-quarter earnings release. "Together our Roasteries, Reserve stores and Reserve bars will broaden -- and deepen -- the enduring emotional connection that exists between our customers and the Starbucks brand everywhere." Story continues Reserve bars should drive comparable-store sales in existing locations where they are added. It's not a direct comparison, but in 2016, Roastery customers spent an average of four times what a typical customer spends in a regular store. It's unlikely Reserve bars will have the same multiple, since a visit won't be as special of an occasion as visiting a Roastery, but pricier offerings mean higher check sizes. Will it work? The Starbucks audience has shown a willingness to spend money. It changed people's behavior from either making a pot of coffee at work or buying a cheap cup in a convenience store. As long as the Roastery and Reserve bar offerings are presented as special, people should be willing to buy them and pay more for them. Starbucks has always been good at creating excitement around a limited-time offering. It should be able to do that at its premium locations with a barista-driven experience built around higher-end coffee. Starbucks isn't going to build thousands of new U.S. stores. There's simply no demand for that. Instead, the chain should be able leverage its existing customer base, getting it to spend more. That's a different model for growth, but it's one that should work well. 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 Daniel B. Kline has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Starbucks. The Motley Fool has a disclosure policy . || U.S. regulator urges registration of cryptocurrency exchanges: By Pete Schroeder WASHINGTON (Reuters) - The U.S. Securities and Exchange Commission said on Wednesday that many online trading platforms for cryptocurrencies should be registered with the regulator and subject to additional rules, in a further sign regulators are cracking down on the digital currency sector. In a statement, the SEC said these "potentially unlawful" platforms may be giving investors an unearned sense of safety by labelling themselves as "exchanges." The regulator said these platforms need to register with the SEC as a regulated national securities exchange or an alternate trading system, or ATS. The new statement marks the latest effort by the SEC to apply federal securities laws to the rapidly growing cryptocurrency sector. SEC Chief Jay Clayton has repeatedly expressed concern about cryptocurrencies and "initial coin offerings," or ICOs, and has urged investors to exercise caution. "The SEC staff has concerns that many online trading platforms appear to investors as SEC-registered and regulated marketplaces when they are not," the agency said on Wednesday. Bitcoin, the best known cryptocurrency, fell 11.9 percent to a 1-1/2 week low of $9,450 on Wednesday on the news, before rebounding slightly to $9,760, according to prices on the Luxembourg-based Bitstamp exchange. Other digital currencies also fell sharply, with Ethereum and Ripple losing 9 percent and 8 percent, according to CoinMarketCap. Clayton has said in the past that he generally considers ICOs to be securities offerings subject to certain regulatory requirements. On Wednesday, the SEC went further by suggesting the majority of secondary market trading in those digital tokens was also subject to its jurisdiction. The regulator said any platform providing trading of digital assets that behave like securities and which operate like exchanges must register with the SEC as a national securities exchange, or seek an exemption such as ATS registration. Story continues There are dozens of platforms offering trading in cryptocurrencies, but Reuters could only identify two ATS registrations for trading cryptocurrencies, according to SEC data. The regulator added that some cryptocurrency platforms may not behave like exchanges but offer related services - such as digital wallets - that trigger other registration requirements, such as becoming a clearing agent or broker dealer. Dina Ellis Rochkind, a lawyer at Paul Hastings in Washington who has worked with many ICO providers, said the SEC notice marked another effort by the regulator to protect retail investors purchasing digital assets on platforms that do not afford the protections associated with SEC-registered exchanges. “The SEC statement foreshadows that it will be cracking down on the numerous platforms that are operating illegally and could be subject to market manipulation. This is a positive step because it will shut out bad actors and further legitimize the industry as it matures,” she added. The SEC statement follows media reports on Tuesday that the U.S. Treasury's financial crime division told Congress in a letter last month that some ICOs may also be subject to the Treasury's money transmission registration, anti-money-laundering and Bank Secrecy Act requirements. (Reporting by Pete Schroeder; additional reporting by Michelle Price and Richard Leong; Editing by Susan Thomas and Dan Grebler) || Exclusive: Russia Secretly Helped Venezuela Launch a Cryptocurrency to Evade U.S. Sanctions: President Donald Trump may not have realized on Monday that his executive order would step on Russia’s toes. Its official target was Venezuela, specifically the country’s plan to create the world’s first state-backed cryptocurrency, the petro, which went on sale Tuesday. But behind the scenes, the petro was in fact a collaboration—a half-hidden joint venture between Venezuelan and Russian officials and businessmen, whose aim was to erode the power of U.S. sanctions, sources familiar with the effort told TIME. Trump’s executive order did not mention the petro’s Russian backers, whose role has not previously been reported. Citing economic sanctions that the U.S. imposed against Venezuela in August, the order simply made clear that anyone who buys or uses the new cryptocurrency would be in breach of those sanctions, as would anyone under U.S. jurisdiction who helps Venezuela develop the petro. “Any conspiracy formed to violate any of the prohibitions set forth in this order is prohibited,” the document states . That may be why the Russians involved in this operation have been keen to remain in the shadows, in part through a clumsy online campaign to obscure their role in the project. But a TIME investigation has found Moscow’s fingerprints all over the creation of the petro, a scheme that reveals the range of Russia’s efforts to fight back against U.S. sanctions. The new cryptocurrency, a form of digital cash that is supposedly linked to the value of Venezuela’s oil reserves, was launched on Feb. 20 during a ceremony in the presidential palace in Caracas. Nicolas Maduro, the socialist leader of Venezuela, declared that it would serve as a kind of “kryptonite” against the power of the U.S government, which he sarcastically referred to as “Superman.” Sitting in the front row at that ceremony were two of Maduro’s Russian advisers, Denis Druzhkov and Fyodor Bogorodsky, whom the President thanked for aiding his fight against American “imperialism.” Story continues Both men have ties to major Russian banks and billionaires close to the Kremlin. But they were not the most senior Russians involved. According to an executive at a Russian state bank who deals with cryptocurrencies, senior advisers to the Kremlin have overseen the effort in Venezuela, and President Vladimir Putin signed off on it last year. “People close to Putin, they told him this is how to avoid the sanctions,” says the executive, who spoke to TIME on condition of anonymity. “This is how the whole thing started.” The Kremlin did not respond to emailed questions about the petro, and the Finance Ministry in Moscow insisted in a statement to TIME that none of Russia’s financial authorities were involved in the petro’s creation. The Venezuelan government did not immediately respond to TIME’s requests for comment. A computer used to mine cryptocurrencies is seen during a governmental event in Caracas on Feb. 20, 2018. Rivaling the dollar? Ever since 2014, when the U.S. and its allies used sanctions to punish Russia for invading parts of Ukraine, the Russian elites have been desperate to get those sanctions lifted and, in the long term, to weaken the West’s ability to impose them in the future. One of the core aims of these efforts, as Putin outlined in a policy paper on global trade that was published in September, is to “overcome the excessive dominance” of Western currencies, and especially the dollar. Putin’s advisers have been more open about their ultimate aim: “The reign of the dollar must end,” Andrei Kostin, the head of state-controlled VTB, Russia’s second-largest bank, said in a speech last month in Moscow, calling on Russia to promote other currencies for use in international trade. “This whip that the Americans use in the form of the dollar would then, to a great extent, not have such a serious impact on the global financial system.” While not as ambitious as the Russian attempt in 2016 to influence the U.S. presidential election, the Kremlin’s move into cryptocurrencies reveals another layer of ingenuity in its struggle against what Putin’s advisers have called the U.S. “hegemony” in global affairs. The use of cryptocurrencies could, at least in theory, hurt the U.S. ability to control the flow of money in and out of sanctioned countries, thus chipping away at one of most powerful means of U.S. influence around the world. There are currently more than 1,500 cryptocurrencies in existence, with a combined value of more than $320 billion, according to CoinMarketCap.com , which tracks this market. By far the biggest of them is Bitcoin, which accounts for over 40% of their total value. But new cryptocurrencies can be created and sold without involving the banks and regulators that normally police currency markets. That is partly what makes them attractive to people under U.S. sanctions. By flying under the radar of big financial institutions, cryptocurrencies can help these people move their money around securely, discretely and with less fear of having it seized by U.S. authorities. In the long term, if more people start using this type of digital cash, and more businesses accept it as a form of payment, trade in cryptocurrencies could ultimately grow large enough to rival major currencies like the dollar. That is what many investors in this field are banking on. “It’s an explosive technology,” German Gref, one of the Russian state bankers closest to Putin, recently said of the innovations that make cryptocurrency possible. “It will turn a lot of spheres upside down.” U.S. regulators are not so sure. Three of the main architects of the Russia sanctions program, who spoke to TIME for this article, said cryptocurrencies will not save major Russian banks or institutions from its restrictions. “The Russians just love to poke holes wherever they can, and they poke a lot of holes, or they try to,” says one of them, Brian O’Toole, who worked at the U.S. Treasury Department between 2009 and 2017. But with cryptocurrencies, he says, “they can only nibble around the edges,” by allowing some sanctioned officials or businessmen to move their wealth abroad. Still, U.S. authorities have been watching these efforts closely since last summer, when the Kremlin’s interest in cryptocurrencies intensified. In the words of one of Putin’s top economic advisers, Igor Shuvalov, the President “caught the fever” for this technology after discussing it in June with a range of experts and advisers. He has since endorsed its potential in a series of public pronouncements, and Russian officials, lawmakers and entrepreneurs have rushed to make Moscow a global center for the cryptocurrency market. The Venezuelan experiment One of their more ambitious ideas has been to create a digital version of the ruble that would mimic key elements of Bitcoin. The Russian Central Bank has, however, resisted this idea, because it would risk destabilizing Russia’s actual currency, says the executive at the Russian state bank. “For Russia, it’s too dangerous,” he says. “If we say that the only reason we do it is to avoid U.S. sanctions, then the United States is definitely going to be displeased about it.” So instead of putting the ruble at risk, Russia encouraged its ally in Latin America to run the experiment on itself, the banker says. “Venezuela has nothing to lose. For them it’s the only chance.” Indeed, the value of the Venezuelan currency, the bolivar, has been decimated by official mismanagement and the impact of U.S. sanctions, which were imposed last year to punish Maduro for his deepening authoritarianism. The crisis has also made Maduro’s regime deeply dependent on Russia for loans and investments. “So Russia made its stronghold here in Venezuela,” says Armando Armas, an opposition member of the nation’s parliament, the National Assembly, which has tried in vain to block the creation of the petro. “Now they are using Venezuela as a guinea pig for their experiment,” Armas tells TIME by phone from Caracas. The job of arranging the details for this experiment has gone to the two Russian businessmen, Druzhkov and Bogorodsky, who met with Maduro on Feb. 20 to discuss the preparations. Toward the end of the hourlong launch ceremony of the petro that day, Bogorodsky stood to give a short speech in Russian, congratulating the “beloved leader” of Venezuela for the “very risky but timely move” he had made. The Russian connection to this experiment became all the more clear the following day, Feb. 21, when Maduro sent his minister of finance, Simon Zerpa, to inform the Russian government about the results. Zerpa met that day in Moscow with Russian Finance Minister Anton Siluanov and other officials, and he posted photos of the meetings on Twitter. “We deliver to Min. Siluanov updated information about our cryptocurrency,” the Venezuelan minister wrote. En esta reunión hemos pasado revista a la cooperacion económica y financiera entre ambos países, con énfasis en el nuevo criptoactivo de Venezuela: El Petro. Entregamos al Min. Siluánov información actualizada de nuestra criptomoneda. pic.twitter.com/BYSFZvIdaf — Simón Zerpa Delgado (@SimonZerpaD) February 21, 2018 The Russian Finance Ministry was, by comparison, less eager to promote these discussions. There was no mention of them on the ministry’s official website or its social media accounts. (The ministry did, however, take the time to post on Facebook that day about a jewelry fair attended by one of its officials.) In its statement to TIME, the ministry insisted that the Venezuelan cryptocurrency was “not discussed during the meeting or any time later on,” nor did the ministers talk about “any cooperation in this regard.” It remains to be seen whether Russia drew any lessons from Venezuela’s experiment. But in recent weeks the authorities in Moscow seem to have cooled on the idea of an official cryptoruble. Two days after the creation of the petro, one of Russia’s leading news agencies, Interfax, reported on a letter that Putin had received from Siluanov, his finance minister. The letter advised the President that, under some conditions, the government should allow the creation of a “private Russian cyptocurrency.” But it should avoid backing such projects with state money or resources, as the financial risks are still too high. At least some of those risks derive from the reaction of the U.S. government, which has taken a hard line on cryptocurrencies under President Trump. “My No. 1 focus on cryptocurrencies, whether that be digital currencies or bitcoin or other things, is that we want to make sure that they’re not used for illicit activities,” Treasury Secretary Steven Mnuchin told CNBC in January. “So in the U.S., our regulations [state that] if you’re a bitcoin wallet, you’re subject to the same regulations as a bank.” Under the radar This position might help explain why Maduro’s Russian advisers have not always been keen to play up their involvement—or their connections to powerful business groups in Moscow. After they met with Maduro on Feb. 20, state media in Venezuela identified these men only as representatives of a company called Aerotrading, which did not have a website at the time. When it appeared online the following day, the site provided no information about the company, apart from a banner that claimed it was “the biggest blockchain consultancy company,” referring to the technology that makes cryptocurrency possible. The company’s Twitter account, also registered on Feb. 21, contains only three posts. The last one reads: “We are pleased to welcome the #Petro cryptocurrency to the #blockchain ecosystem.” Only after studying company records and speaking to other cryptocurrency investors was TIME able to identify the Russians whom Maduro had so warmly thanked for helping him create the petro. Druzhkov, the younger of the two, appears to be relatively new to the world of cryptocurrency. He only founded his start-up in this field last fall, an online trading house called the Zeus Exchange . His partner in that venture, a wealthy Russian industrialist and art collector named Sergei Litvin, also seems to have no previous experience in cryptocurrency. But Litvin does sit on the executive board of a conglomerate that has been under U.S. sanctions since 2014. The conglomerate, Stroytransgaz, is controlled by one of Putin’s oldest friends, the billionaire oil trader Gennady Timchenko, who is also under U.S. sanctions. Speaking to TIME by phone from Maastricht, in the Netherlands, where he was looking to expand his impressive collection of Renaissance art, Litvin said that Russia, like other countries, is watching the Venezuelan experiment closely. “We’re interested in how it will develop. We want to see the weak spots in such a project.” He insisted, however, that he and Druzhkov were only doing “technical analysis” of the petro, and were not involved in building it. Druzhkov, who posed for photos alongside Maduro during the petro’s official launch, declined numerous requests to speak with TIME about his role. Cerramos acuerdo con Aerotrading, una de las más grandes empresas de Blockchain. Recuerden esta fecha compatriotas, será recordada como el día en que Venezuela dio un paso #AlFuturoConElPetro . Expectativa mundial por la primera Criptomoneda impulsada por un Estado. ¡Atentos! pic.twitter.com/WKulODa79s — Nicolás Maduro (@NicolasMaduro) February 20, 2018 His other Russian partner in this project was more forthcoming. A former executive at several major Russian banks, Bogorodsky moved to Uruguay around 2009 and became an informal ambassador of Russian culture across Latin America. From there he has maintained close business ties with Russia and other former Soviet states, at times partnering with government agencies on tech and infrastructure projects, according to his personal website and local news reports. His involvement with the Venezuelan petro began in December, around the time when Maduro announced his plans for the petro, and when Putin ordered his government to analyze the benefits of a Russian cryptocurrency. “Russia has been moving in this direction for a while now, trying to draft laws to regulate cryptocurrencies,” Bogorodsky tells TIME by phone from Montevideo, the Uruguayan capital. But this process has become bogged down in bureaucratic details, while Venezuela “wanted to move fast,” he says. “We were ready to help.” His company, Aerotrading—the one whose barebones website appeared the day after the petro—has served as Venezuela’s “technical partner” on this project, Bogorodsky says. But it has not been involved in the official talks between the Russian and Venezuelan governments, such as the meeting on Feb. 21 between the two countries’ finance ministers: “We have nothing to do with that.” Venezuela began the official sale of the petro to foreign investors on March 20, and Maduro hopes to raise as much as $6 billion—a massive sum for an economy on the edge of ruin. But it will be hard to verify how much Maduro actually earns, and how that money would be used. Experts have warned that a lot of it could go toward propping up his regime and enriching his allies. As for the U.S. government’s attempts to ban these investments in Venezuela, Bogorodsky couldn’t care less. “Any citizen of the world can do what he wants,” he said, laughing down the line from Montevideo. “We offer freedom of choice. So I think there will be lots of investors, big and small, from all over the world.” || Bitcoin's rough patch looks like the Nasdaq during the tech bubble — except it's moving 15 times faster: Getty Images / Ethan Miller • Bitcoin fell as much as 70% from its mid-December high through its recent early-February low. • The cryptocurrency's price chart mirrors that of the Nasdaq Composite Index during the dotcom bubble era, but there's a catch. • Historical fluctuations in the Nasdaq should provide a template for how bitcoin will trade going forward, especially considering their similar patterns. Recent declines inbitcoinmay be foreign to traders accustomed to record-breaking returns, but the cryptocurrency's price chart looks awfully familiar to strategists atMorgan Stanley. It reminds the firm of how theNasdaqtraded in 2000, during the tech bubble's heyday. And based on the chart below — which overlays bitcoin's one-year performance over a 15-year Nasdaq line — they have some serious similarities. The only catch is that bitcoin is moving 15 times faster than the Nasdaq did. Morgan Stanley Morgan Stanley highlights bitcoin's recent descent into a bear market, which has seen thecryptocurrencyfall 70% from its mid-December peak to its most recent low in early February. The firm argues this is a totally normal turn of events for bitcoin, once again highlighting its similarities to the dotcom-bubble Nasdaq. Perhaps most intriguing to bitcoin enthusiasts will be Morgan Stanley's finding that these types of weak spots have historically preceded rallies in the underlying asset. During recent selloffs, the price of bitcoin has fallen an average of 47%, then rallied an average of 43%. Back in the span from March 2000 through October 2002, the Nasdaq fell an average of 44%, only to rebound roughly 40%, Morgan Stanley data show. Those are some eerily similar fluctuations. So what's the big deal? Is there any insight to be gleaned from this intertwined relationship, marked by investor overexuberance? Given the similarities seen, investors should be able to use the historical Nasdaq chart to forecast moves in bitcoin — so long as they apply Morgan Stanley's 15-to-1 ratio. Comparing the two is also a worthwhile exercise in staying calm amid panic-inducing conditions. As the chart below shows, even the worst selloffs in the dotcom-era Nasdaq were softened somewhat by the roaring rallies that followed. Given where bitcoin is in its current cycle, bulls should find comfort in knowing a rebound may soon be afoot — that is, until the next inevitable reckoning. Morgan Stanley NOW WATCH:Neo-Nazi groups let a journalist in their meetings and rallies — here's what he saw See Also: • Wall Street's 'wall of money' is at odds with the struggling market — but one expert says not to worry • Bitcoin is dangerously close to a 'death cross' formation that could send it tumbling • Trump's trade war is heating up — here are 11 stocks UBS says to avoid SEE ALSO:JPMorgan has calculated when the next recession will hit — and has some ideas how you can prepare for it || Cryptocurrency calculator: how much you could have made or lost buying Bitcoin: Bitcoin - REUTERS Bitcoin is like sex. Everyone is talking about it, leading to a fear you are missing out by not having it. Despite Bitcoin's stellar rise in 2017, it has been enjoying a bumpy ride in recent weeks, as incoming regulation and investor jitters force it to swing back-and-forth. Take the Winklevoss twins, who used their $11m Facebook payout to buy Bitcoin. The pair might be Bitcoin billionaires one day and mere millionaires the next, thanks to the yo-yo-ing cryptocurrency. Those who are curious to see how much they might have made on cryptocurrencies such as Bitcoin, Ripple and Ethereum -  if they had invested when they planned to - before the jitters set in - can use this handy tool to see if they might have been a Bitcoin millionaire by now. If you were too afraid to bank on digital coins, fear not. The calculator also reveals if you would have made a loss. Cryptocurrency investment calculator It's important to remember that there are lots of added transaction fees when buying Bitcoin - so the rewards might not be as good as they seemed. You will pay a fee to buy Bitcoin, another fee to move it between wallets, and of course there's another fee for cashing in. Average fees have exceeded £25 for every transaction in recent weeks thanks to large demand causing traffic on the Bitcoin network. It is worth bearing in mind that some cryptocurrency exchanges only convert into dollar, so there could be an extra conversion rate before it lands in your bank account. The calculator shows you whether you might have made or lost buying Bitcoin rivals Ethereum, Bitcoin Cash, Ripple and Litecoin, too. || 3 Ways to Make Sure You Don't Run Out of Money in Retirement: One of thebiggest fearsamong workers aged 55 and older is running out of money in retirement. Considering about half of those workers don't have much in the way of retirement savings, they absolutely should be concerned their meager nest eggs won't last. It's hard to live off a retirement account with only a couple years' worth of living expenses. But there are steps you can take in your working years and as you approach retirement to ensure you never run out of money (barring a complete global economic catastrophe). Here are three simple ways to make sure you don't outspend your nest egg. Image source: Getty Images. As the name suggests, a safe withdrawal rate is the rate at which you can draw down your retirement accounts with minimal risk of going bankrupt. The 4% rule is often considered a safe withdrawal rate for most, but there are severalflawswith that number. The biggest problem with the 4% rule is that everyone's situation is different. What age you retire, your portfolio asset allocation, and your risk tolerance will have a major impact on how much you can "safely" withdraw every year. On top of that, economic factors will have an impact on safe withdrawal rates as well. When the market is at all-time high valuations like it is today, safe withdrawal rates go down. But if the stock market has a major correction right before you retire, your might be able to increase your safe withdrawal rate, offsetting some of the declines. Understanding how various factors will impact your safe withdrawal rate is a key step to take in determining how big your nest egg needs to be to fund your retirement. It's also key to establishing a budget in retirement instead of spending down your portfolio without a plan. If you'd rather not deal with the math of safe withdrawal rates, another option is to invest in assets that pay you to hold them. The simplest option for most investors is dividend stocks. Retirees can put together a portfolio of stocks with steadily increasing dividends and simply live off the payments those companies make to shareholders. If picking stocks is too much work, you can buy a dividend growth fund. There is a risk that dividend payments will decline or stop altogether in a market downturn or when individual companies face tough times, but the best dividend growth stocks manage toraise their dividend payment every year. Another option is investing in real estate. Real estate can be more involved as it requires sourcing deals and managing tenants. It may also require some maintenance to keep tenants happy and the property in shape. Holding a couple of rental properties in retirement, though, can ensure you have a steady flow of cash coming every month, and rents typically climb with inflation. Finally, you can buy anannuity. An annuity pays out a certain amount every month for the rest of your life in exchange for a lump sum right now. That provides a lot of stability for retirees, but it doesn't always produce the best returns. One of the best ways to make sure your nest egg stays safe is to keep working in retirement. Side hustles aren't just for millennials; a small gig can boost both your retirement portfolio andyour life span. Retirement offers an opportunity to explore your passions, and there's almost always a way to turn your passions into profits. Or if you simply want to use the skills you've perfected over your career, you can try your hand at consulting. Thanks to the internet and skills marketplaces, it's easier now than ever to find work doing what you love. A few thousand dollars in supplemental income every year can be a big boost to retirement portfolio. If you stick to the 4% safe withdrawal rate, every $1,000 in extra income is the equivalent of $25,000 in a portfolio nest egg. If you go into retirement with a plan for how to spend your nest egg or supplement your portfolio, it's far less likely you'll run out of money. Even if you're starting late, you can still make a plan to ensure your nest egg lasts the rest of your lifetime by the time you retire. It might require cutting back or finding a little work in retirement, but at least you won't have to worry. 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 adisclosure policy. || A Look At Mighty Mid-Caps: This article was originally published on ETFTrends.com. Mid-cap stocks and exchange traded funds, such as the SPDR Mid-Cap 400 ( MDY ) , can go often go overlooked relative to large- and small-cap fare, but this market cap segment has a history of delivering stellar long-term returns. “Of the universe of 2,862 publicly listed US stocks, 46% have market capitalizations between $1 billion and $12 billion—qualifying them as mid caps. Investors who allocate only to large and small caps will lack pure beta exposure to the largest segment of US firms,” said State Street in a recent note . The $19.2 billion MDY, which is one of the largest mid-cap ETF, tracks the S&P MidCap 400 Index and holds 400 stocks with market values ranging from $1 billion to $4.5 billion. Mid-cap companies are slightly more diversified than their small-cap peers, which allows many mid-sized companies to generate more consistent revenue and cash flow, along with providing more stable stock prices. Additionally, they are not so big that their size would slow down growth. The mid-cap category has also outperformed their larger peers, but with lower volatility than small caps. Moreover, the returns of mid-cap stocks have also beaten those of small-cap stocks during the trailing three-, five-, and 10-year periods, with lower volatility. “Mid-cap stocks, as represented by the S&P MidCap 400 Index, have delivered higher annualized returns than their large- and small-cap peers over the past 20 years,” said State Street. “What’s more, these returns were achieved with reduced volatility relative to small caps. This has resulted in mid-cap stocks delivering the highest risk-adjusted returns over this period.” Middle capitalization stocks, sometimes referred to as the market’s sweet spot, could help investors achieve improved risk-adjusted returns. Mid-cap companies are slightly more diversified than their small-cap peers, which allows many mid-sized companies to generate more consistent revenue and cash flow and provide more stable stock prices. Additionally, they are not so big that their size would slow down growth. Story continues “Since mid-cap firms are established entities, this historically higher earnings growth has been accomplished with decreased reliance on debt relative to small-cap firms,” said State Street. “Over this same period (2000-2017), when considering short- and long-term liabilities, mid-cap firms have increased their total debt by 3.3 times while small caps have seen their debt levels increase by 4.5 times.” For more information on mid-caps, visit our mid-cap category . POPULAR ARTICLES FROM ETFTRENDS.COM Shorts Target a Big High-Yield Bond ETF Transportation ETFs Could be Ready to Rally Traders Return to Volatility ETPs After XIV Meltdown ETFs Could Revolutionize Bitcoin Access…if They Come to Market More ETF M&A: Mirae Asset to Acquire Global X READ MORE AT ETFTRENDS.COM > || Bitcoin Monthly Forecast – April 2018: The BTC prices have been having a tough time since the beginning of the year and the investors and the traders in this market would be happy that the quarter had ended. It is a quarter in which the prices of the instrument dropped by around 50% and to think that the prices have dropped from the highs close to the $20,000 region towards the end of lasy year to trade below the $7000 region to close the month of March should be something that is quite disappointing for the bulls. Bitcoin Prices Continue Lower The bulls have been finding the going pretty tough over the last few weeks as there has not been much demand with the regulators all around the world beginning to step in to control the market. One of the main reasons for the volatility and the liquidity in the BTC market was the presence of the speculators who were trading and looking for some quick returns but with the advent of the regulators and taxation in many parts of the world, we are seeing the speculators beginning to leave the markets and that has reduced the demand. This reduction is demand is leading to lower and lower prices. Also the introduction of BTC futures in many parts of the world is also causing the traders to sell off the BTC and this is only adding to the pressure on the prices. Also, in March, we saw that it was the season of taxation in many countries and with BTC also coming under the tax ambit in many of the countries, there was a reluctance to buy the BTC at this point of time. There is Still Some Hope for the Bulls Now that the tax month is over in many countries, the bulls would be hoping that the liquidity would come back and the investors and the traders would be encouraged more to buy the BTC in the coming month of April. I has also to be noted that the prices of BTC ended the month of March 2017 near the $1200 region and we all know where the prices ended the year at. Hence, it would not be a surprise if we see a bullish move in the BTC market in the upcoming month though the challenges continue to remain. Story continues One of the challenges is the continued crackdown by the regulators on the crypto markets and also on the exchanges and the ICOs in particular and this is likely to spook the new investors and traders. Also, it is likely that the traders who bought the BTC at the high levels are caught out and they are unable to get out due to the lower prices now. They do not want to lose their funds and hence are holding on in the hope that the prices would recover back to their highs so that they can get out. It is for reasons like these that the traders have been out of the market and the entire thing acts like a cycle making it very difficult for the bulls to generate any sort of momentum in the short term. In the upcoming month of April, we believe that it would be a bullish month and it just need a strong bullish leg for the bulls to be able to draw in the other traders in the move higher. The technical selling levels are at the $7400 region and then the $7800 region but once these 2 levels have been crossed, we should see more and more traders gain confidence in the move and this should lead the prices to gain in pace as the trend would then begin to snowball. We do not foresee the prices falling by too much in the upcoming month. This article was originally posted on FX Empire More From FXEMPIRE: E-mini S&P 500 Index (ES) Futures Technical Analysis – April 2, 2018 Forecast Gold Price Futures (GC) Technical Analysis – April 2, 2018 Forecast DASH Technical Analysis – Looking to Test Resistance Levels – 02/04/18 E-mini Dow Jones Industrial Average (YM) Futures Analysis – April 2, 2018 Forecast Oil Monthly Forecast – April 2018 Crude Oil Price Update – Strengthens Over $65.55, Weakens Under $64.72 [Random Sample of Social Media Buzz (last 60 days)] What is Bitcoin & How Do Bitcoins Work? All You Need to Know 2018 https://www.emoneyindeed.com/what-is-bitcoin-how-bitcoins-work/?utm_source=ReviveOldPost&utm_medium=social&utm_campaign=ReviveOldPost … #makemoneyonline || #bitcoin pic.twitter.com/dr8LGJht4g || Current price of Bitcoin is $8300.00 #Bitcoin #Finance #Entrepreneur || Sharing Selfies Could Now Help You Earn Money in Cryptoworld - Cointelegraph (Bitcoin… https://goo.gl/fb/CpzeXF  || We're live in 5! Cwk #31: "Is Bitcoin Going To Die? Trading Plan Explained" Join us now https://buff.ly/2q16l1k pic.twitter.com/cwzQVxCWd5 || #VipScandals_com #Trump #World #Hollywood #Fashion #Celebrities #Bitcoin #News #Gossip #Showbiz #Paparazzi • http://vipscandals.com  • http://www.vipscandals.com/archives/467282  || "The Day After Bitcoin" || 2018/02/06 11:05:52 [ bitFlyer ] ビットコイン[BTC/JPY]：708,024円 イーサリアム[ETH/JPY]：70,732円 [ Zaif ] ネム[XEM/JPY]：　　46.0円 モナコイン[MONA/JPY]：356.0円 BCH[BCH/JPY]：　　92,905円 #Bitcoin #XEM #BitcoinCash #ビットコインキャッシュ #Ethereum #仮想通貨 #暗号通貨 || ICO, crypto-monnaies et blockchain : la révolution Française en marche ! Les plus grands experts de la #Blockchain, des #ICO et des #Cryptomonnaies live à l'événement annuel de @FranceFintech le 10 avril 2018 à @joinstationf https://www.linkedin.com/pulse/ico-crypto-monnaies-et-blockchain-la-révolution-en-marche-pailhon/ … #bitcoin #etereumpic.twitter.com/GO0Bk8xGAF || The #firesale is almost over. #bitcoincrash $btc #HODL
Trend: up || Prices: 6636.32, 6911.09, 7023.52, 6770.73, 6834.76, 6968.32, 7889.25, 7895.96, 7986.24, 8329.11
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)] Galaxy Digital's Q2 Net Loss More Than Triples to $554.7M Amid Market Downturn: Cryptocurrency-focused financial services firm Galaxy Digital (GLXY.TO)reporteda second-quarter net loss of $554.7 million, which was more than triple the loss from the same period last year. • The larger loss was mainly the result of the crypto market downturn and investments in Galaxy's trading business, the firm said on Monday. The firm reported a loss of $182.9 million for the second quarter of last year. • Shrugging off the backward-looking loss, Galaxy's Toronto-listed shares are surging over 20% in Monday's trading session after gains in cryptocurrencies over the weekend. Bitcoin (BTC) is up about 4.4% to over $24,000 while Ethereum (ETH) gains 5.6% to about $1,799. • As of June 30, the firm had a liquidity position of $1.5 billion, while partners capital at the end of the quarter was $1.8 billion, up 23% from $1.5 billion from the year-ago level. • The firm's reported preliminary assets under management stood at nearly $1.7 billion at the end of the second quarter, up modestly from a year ago, but down 40% from three months earlier. • Mining business revenue in Q2 was $10.9 million and the segment's comprehensive net income tripled from a year ago. • Investments stood at $753.9 million at of the end of June, a decrease of about 25% for the quarter alongside the general slump in cryptos. • Speaking on the earnings call CEO Michael Novogratz said "I don't feel nearly as bad as I thought I would, and I hope it's the worst quarter this firm ever has." • Over the last eight weeks, said Novogratz, Galaxy took a “really serious look” at all of its business units and costs as it looks to control spending. • On the employee front, Novogratz expects Galaxy to finish the year with over 400 people from about 375 right now. "We are a growth company," Novogratz said. Galaxy is investing in people, products, and engineering teams not only for the near-term but for years to come, he added. • "While the crypto landscape is less certain than it was, my confidence of where it's going in the medium-term hasn't waned a bit," Novogratz said. • The results helped alleviate investor concerns on the extent of Galaxy's losses on lending activity and its investment book, BTIG analyst Mark Palmer told clients in a note Monday. • "As it turned out, the size of the losses that GLXY posted during 2Q22 were not nearly as severe as some had feared, even while the company marked down its principal investment book by ~$250mm to ~$750mm, that loss was unrealized and could be recouped as the markets recover," Palmer wrote. He reiterated a buy rating on Galaxy, though trimming his price target to $22 (C$28) from $29 (C$37) Read more:Galaxy Digital Names Credit Suisse Veteran as Global Head of Distribution UPDATE (Aug. 8, 18:34 UTC):Updates with analyst commentary in final two bullets. || 7 Beaten-Down Dow Stocks to Buy Before They Rebound: Investors seeking a safe haven for their money have been flocking to Dow Jones Industrial Average stocks since the beginning of 2022. While these companies may not offer much excitement, they provide dependable returns. This will help you make it through until December without risking too much on an unpredictable market. The Dow is a popular index for tracking the performance of America’s top companies. But it doesn’t mean these stocks are invincible! Just because they’re in the Dow doesn’t mean you can trust them to be good investments, even if that is what Wall Street wants us all to think. Nevertheless, these stocks tend to be industry leaders and are much higher quality than other holdings in the market. With the stock market in shambles, let’s look for the most attractive Dow stocks at this time. InvestorPlace - Stock Market News, Stock Advice & Trading Tips KO Coca-Cola $63.38 TRV The Travelers Company $158.96 AXP American Express $157.51 IBM International Business Machines $132.48 VZ Verizon $44.95 CRM Salesforce $190.17 DIS Disney $106.63 Dow Stocks to Buy: Coca-Cola ( KO ) coca-cola bottles and cans. coke is a blue-chip stocks Source: Fotazdymak / Shutterstock.com Consumer staples giant Coca-Cola (NYSE: KO ) delivered a better-than-expected second-quarter earnings report while its management hiked its guidance for the full year. It has reaffirmed its position as a market juggernaut posting strong fundamentals. Despite the current headwinds, its shares have outperformed the market by a considerable margin. With an incredible track record, it remains a leader that can continue posting robust returns over the long run. In the second quarter, non-GAAP earnings per share of 70 cents rose 4% on a year-over-year basis, coming in three cents over the consensus. Moreover, net sales of $11.3 billion shot up 12% . KO has benefitted from retiring over 200 of its products to streamline its business and focus on the more profitable areas. The opportunity is to consolidate its position by leveraging its logistics infrastructure and other relationships. Story continues The Travelers Companies ( TRV ) a person holds up a scrap of paper that asks "Are you covered?" Source: Shutterstock The Travelers Companies (NYSE: TRV ) is one of the top providers of property and casualty insurance. Its shares rose around 8.1% in value in the first six months of the year, outperforming the S&P 500 , which traded in the red. Insurance businesses such as TRV are part of a handful of industries that can effectively shield themselves from risk. They can raise prices without having much of an impact on demand, making them robust investments when inflation is high. It recently reported its second-quarter results, which showed plenty of positives. The negative elements with earnings were due to one-off events, helping the business earn an underwriting profit across every line of business apart from personal insurance. On top of that, it offers a handsome dividend yield of over 2.3% , with dividend growth over 16 years. Dow Stocks to Buy: American Express ( AXP ) the American Express logo etched into wood Source: First Class Photography / Shutterstock.com American Express (NYSE: AXP ) is amongst the crème da le crème in the payment processing realm. A massive part of the company’s revenue growth over the years relates to travel and tourism, with further growth supported by a recovery in this sphere. With the expected ramp-up in travel demand, revenues from the sector are likely to trend northward. It boasts one of the strongest travel business models in the hospitality sector, with partnerships with some of several leading brands in the space. AXP conducted a survey earlier this year, where 86% of the participants stated that they expect to spend more or the same on travel this year compared to an average pre-pandemic year. International Business Machines ( IBM ) Quantum computing stocks: Sign of IBM with Canada Head Office Building in background in Markham, Ontario, Canada. IBM is an American multinational technology company. Source: JHVEPhoto / Shutterstock.com Tech giant International Business Machines’ (NYSE: IBM ) second quarter results were weighed down by the U.S. dollar, which has gone up sharply due to aggressive interest rate hikes from the Federal Reserve. Nevertheless, its business is leaner than ever, with many of its businesses performing at a heartening pace. Consequently, its free cash flows have soared, growing to $3.3 billion compared to $2.6 billion during the first half of 2021. For the full year, IBM still expects to make $10 billion in FCF, up from $6.5 billion in 2021. Furthermore, its consulting business has been booming, with sales up an incredible 18% during the second quarter. Moreover, its software sales, driven by Red Hat, grew at an impressive 12% in the quarter. On top of that, mainframe revenues shot up 77% in the second quarter, driving infrastructure sales 25% higher. Therefore, there’s plenty to be optimistic over with IBM stock in the future. Dow Stocks to Buy: Verizon Communications ( VZ ) 5G stocks, VZ stock Source: Ken Wolter / Shutterstock.com Telecom giant Verizon Communications’ (NYSE: VZ ) stock is trading at multi-year lows. Its second-quarter report was underwhelming, a testament to how tough business conditions are at this time. Nevertheless, its FCF forecast concerns investors the most, as it directly impacts dividend payouts. Its business continues to generate massive cash flows, and near-term troubles aren’t likely to impact the firm’s long-term positioning. Even with a lower FCF , it should be able to cover its dividend payments without any hiccups. It achieved a massive $7.2 billion in FCF in the first six months of the year, so all eyes would be on how the firm can secure in the second half of the year. Nevertheless, its dividend yield is at a fantastic 5.7% , with a payout ratio close to 47.6%. Salesforce ( CRM ) A hand with pink painted fingernails holds a Salesforce sticker. Source: Bjorn Bakstad / Shutterstock.com Salesforce (NYSE: CRM )is a cloud computing giant that has grown its top line by double digits in the past five years. Its diversified cloud business caters to an array of large and mid-cap companies with incredible growth profiles. Moreover, its impressive wealth compounder has generated over 440% returns for its investors in the past decade. The cloud computing titan’s recent reports have been extraordinary considering the market situation.  Moreover, its gross margins held up well despite the challenges presented by the market. Additionally, its levered FCF margin growth on a year-over-year basis is at over 33%. It forecasts an operating cash flow bump of approximately 22% in the current year, which should take its free cash flows to over $6.5 billion. With the massive growth runway of its profitable verticals and its constant expansion, its total addressable market could grow to a mind-boggling $284 billion by 2026 . Dow Stocks to Buy: Disney ( DIS ) Walt Disney logo on mobile phone with Cinderella's castile in background Source: nikkimeel / Shutterstock.com Entertainment giant Disney (NYSE: DIS ) has been on a roll of late. The content produced by its media franchises has generated millions in revenue at the box office. Moreover, its aggressive push into streaming has paid many dividends. It bought out Twenty-First Century Fox in 2019 along with Hulu. It later launched Disney+, which has seen explosive growth in subscription numbers so far. From the first quarter of 2020 to the second quarter of 2022, it has grown its subscribers by a whopping 420% . Additionally, its parks and recreation business has made a remarkable comeback, posting record results in its second quarter. Layer that up with its eye-catching content slate in the upcoming months and DIS stock could be set for some hefty gains. Near-term headwinds are likely to weigh down its results in the interim, but its businesses offer healthy upside potential over the long run. 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 . 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 Beaten-Down Dow Stocks to Buy Before They Rebound appeared first on InvestorPlace . || 7 S&P 500 Stocks to Buy on the Dip or You’ll Be Kicking Yourself Later: Finding S&P 500 stocks to buy on the dip can be tough since it’s not clear how much more they’ll dip. There’s no respite for stock market investors this fall. As long as Fed Chair Jerome Powell keeps hiking interest rates aggressively, it seems that the market will be under further pressure. Indexes took another sharp turn lower this week following the latest Fed move, and there’s no pause in sight yet. Pundits are focused primarily on inflation and macroeconomic conditions at the moment. And that’s understandable. However, when the stock market falls this far this fast, investors willing to step into the arena can grab some compelling opportunities. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Let’s be clear, there’s no sign that the S&P 500 is set to bottom in the near term, so there is some risk in these S&P 500 stocks to buy on the dip. Chair Powell made it very clear in his speech this week that inflation remains persistently too high and that the Fed has a ways to go in reining in inflation. The current market struggles could easily persist into 2023. But at some point, the reward outweighs risk in the case of these S&P 500 stocks to buy on the dip. This may not be the ultimate bottom, but shares are cheap enough in these seven high-quality S&P 500 stocks to set up a high probability of success for investors putting money to work today. HD Home Depot $268.91 NKE Nike $99.16 NFLX Netflix $236.36 MMM 3M $114.37 SHW Sherwin-Williams $209.73 ECL Ecolab $150.20 INTC Intel $28.19 Home Depot (HD) Home Depot (HD) storefront on a sunny day Source: Jonathan Weiss / Shutterstock.com Leading building materials and home improvement retailer Home Depot (NYSE: HD ) has seen shares tumble in 2022, with HD stock down 35% year-to-date, making it a prime candidate among S&P 500 stocks to buy on the dip. Investors are dumping HD on expectations that the slowing housing market will be a big problem for the company. In theory, that makes sense. In practice, it’s not really the case. For one thing, HD stock actually held up relatively well during the 2008 financial crisis, despite that crisis’ epicenter being in the housing market. While new home construction collapsed in 2008, people kept spending on their existing homes. Story continues Home Depot should be under even less stress this cycle. People took up hobbies, such as gardening, during the pandemic which will drive ongoing sales at Home Depot going forward. Additionally, long-term demographics continue to support more new households. The millennial generation is looking to improve their living conditions and will be buying home-related goods sooner or later. All that to say that while Home Depot may have soft earnings for 2023, the longer-term outlook will be fine, meanwhile, shares have gotten hammered this year. Nike (NKE) a stack of red Nike shoe boxes Source: mimohe / Shutterstock.com Nike (NYSE: NKE ) stock ticked below the $100 mark following the latest Fed rate hike; shares are now down 40% year-to-date. Traders are dumping the name as the consumer spending boom fades, the Chinese apparel market remains troubled and inflationary issues have pressured profit margins. Of course, this sets NKE up as one of the surprise S&P 500 stocks to buy on the dip. To that point, analysts see Nike’s earnings dropping 12% to $3.75 per share in its 2023 fiscal year, putting the stock at 26x forward earnings, but then things improve sharply. The analyst consensus has earnings jumping 22% in 2024 and another 20% in 2025, taking NKE stock to just 22x and 18x earnings in those years, respectively. That’s a bargain! This is a classic example of a great business and brand that has gotten overly punished in the short term for the current economic mess. For long-term investors, however, this is a great entry point into the world’s most well-known athletic apparel brand. Netflix (NFLX) The Netflix logo on a tablet with earbuds and a bowl of popcorn nearby. Source: Riccosta / Shutterstock.com It’s been an absolutely dreadful year for the streaming media industry. In 2020 and 2021, people signed up for streaming subscriptions at elevated rates as the pandemic closed off other entertainment alternatives. This year, though, we’ve seen the flip side of that. As real-world entertainment venues reopen, streaming businesses such as Netflix (NASDAQ: NFLX ) have seen new sign-ups slow down while existing subscriber churn rates have climbed. That’s not the only problem, either. There’s been a so-called “race to the bottom” effect in streaming. The rash of new streaming services has created a ton of competition and made it hard for existing players to raise prices. As every media company seemingly rolls out its own streaming service, it also drives up the prices to make new content and fragments the existing marketplace. Over time, these issues should resolve themselves. Weaker streaming services will merge with each other or shut down. And the long-term growth of streaming should continue, as it inexorably takes customers from traditional television and cable offerings. As long as Netflix remains the leader in the market, its always going to be one of the S&P 500 stocks to buy on the dip. 3M Company (MMM) 3M logo on top of a corporate building. MMM stock Source: JPstock / Shutterstock.com 3M (NYSE: MMM ) is an industrial powerhouse making a vast array of products for fields as diverse as packaging materials, workplace safety, dental instruments, and healthcare software among many others. Shares are down 35% year-to-date, which is an outsized move for a stable blue chip company sort of this one. Traders are dumping the stock around fears relating to product liability for defective earplugs. While headline legal liability seems huge, the actual expense to 3M is likely to be far smaller, as usually happens with these sorts of lawsuit situations . Meanwhile, the company is a great growth and income investment at an unusually cheap price. It’s a dividend king, having raised its dividend for more than 50 consecutive years. MMM stock’s dividend yield has now topped 5% with the heavy sell-off in recent months. With shares at their lowest point since 2013, this is a rare deep-value opportunity among S&P 500 stocks to buy on the dip. Sherwin-Williams (SHW) A Sherwin-Williams (SHW) sign in Richfield, Minnesota. Source: Ken Wolter / Shutterstock.com Sherwin-Williams (NYSE: SHW ) is one of the dominant players in the paint market. Paint may not be a glamorous business, but it is always in demand. There’s a perception that SHW stock is vulnerable thanks to the fall in the housing market. However, a huge chunk of paint consumption is for existing structures rather than just new buildings. Sherwin-Williams also has a strong competitive moat. The company has fostered close relationships with professional painters, who rely on Sherwin-Williams for its better quality products and strong customer service. By being the paint that the pros pick, this tends to ensure steady product demand and insulate the company from cheaper rivals. Sherwin-Williams has been a tremendous long-term performer. It has generated double-digital annualized earnings growth for many years and earned a high P/E ratio to correspond with its track record of success. With the stock down 40% year-to-date, Sherwin-Williams is easily among the S&P 500 stocks to buy on the dip. Ecolab (ECL) Ecolab (ECL) logo on its corporate headquarters building. Source: Ken Wolter / Shutterstock.com Ecolab (NYSE: ECL ) is far and away the world’s leader in providing sanitation, hygiene, and water treatment services. However, the market remains highly fragmented. Ecolab is the number one player but has only an estimated 8% share of the total global addressable market. Its next nearest competitor, Diversey (NASDAQ: DSEY ) has just a 2% share. This gives Ecolab an enviable position. It can keep acquiring smaller hygiene and sanitation companies around the world, adding more growth to its overall platform. Ecolab targets 15% annualized earnings growth over the longer term and has a massive runway for achieving that rate for many years to come. In the short-term, ECL stock got hammered thanks to the pandemic. Leading customers such as hotels and restaurant chains needed (and could afford to pay for) far fewer services from Ecolab. As the global economy reopens and travel and hospitality pick up, Ecolab should enjoy a strong reopening surge that is not currently accounted for in ECL’s stock price. Intel (INTC) The Intel logo in blue on a black screen. Source: Kate Krav-Rude / Shutterstock.com Semiconductors are historically a boom/bust sector. That trend is playing out again now. Companies like Intel (NASDAQ: INTC ) enjoyed record sales in 2021 as consumers stocked up on new computers and household electronics to work and study at home. Now, the market is dramatically oversupplied and sales in the industry have slumped. INTC stock has gotten absolutely clobbered, falling to multi-year lows. The company’s last quarterly earnings report was a total mess, and things don’t look much better over the next few quarters either. However, for patient investors, this is a golden opportunity. Intel remains a dominant player in semiconductors, with its $15 billion annual R&D budget giving it tremendous resources for innovation and new product development. On top of that, the Biden Administration’s bill to support the semiconductor industry should provide Intel with ample assistance as it ramps up its U.S. manufacturing capabilities. Intel is a leading company in a vital industry whose share price has fallen too far amid admittedly terrible short-term industry conditions. On the date of publication, Ian Bezek held a long position in ECL, NKE, MMM, and INTC stock. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines . Ian Bezek has written more than 1,000 articles for InvestorPlace.com and Seeking Alpha. He also worked as a Junior Analyst for Kerrisdale Capital, a $300 million New York City-based hedge fund. You can reach him on Twitter at @irbezek. 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 S&P 500 Stocks to Buy on the Dip or You’ll Be Kicking Yourself Later appeared first on InvestorPlace . || First Mover Americas: Bitcoin Drops Below $20K, Michael Saylor Sued for Tax Fraud: Price Point: Bitcoin has dropped below a critical psychological level of $20,000 as MicroStrategy's Michael Saylor gets sued by the District of Columbia for tax fraud. Market Moves: The potential Ethereum hard fork token ETHPOW could trade at 1.5% of ether's price, futures suggest. Chart of the Day: Bitcoin exchange inflows rise. This article originally appeared in First Mover , CoinDesk’s daily newsletter putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day . Price point Bitcoin ( BTC ) fell below $20,000 on Thursday as investors face a tough start to the month after a rocky August. The world’s largest cryptocurrency by market value has lost 2% on the day, following a 14% decline last month. Stocks and bonds also fell , along with European and Asian indexes. Oil prices dropped for a third day in a row. Ether ( ETH ), the second-largest cryptocurrency by market capitalization, lost 1.6% over the last 24 hours to $1,560. Litecoin ( LTC ), EOS and unus sed leo (LEO) posted small gains. Bank of America said Wednesday in a research podcast that the chance of a more hawkish Federal Reserve and the likelihood of interest rates staying higher for longer haven't been fully priced into risky assets, including cryptocurrencies. In the news, the District of Columbia is suing MicroStrategy founder Michael Saylor for tax fraud. The attorney general’s office is also suing the business software company for allegedly helping him evade taxes on his earnings in the district. MicroStrategy's shares were down more than 4% following the news. Crypto lender Celsius Network is facing another group of customers who want their money back, Nikhilesh De reports . Developers behind the Helium network have proposed shifting the entirety of the protocol to the Solana blockchain, citing faster transaction speeds, high uptimes and more interoperability with other blockchains. And finally, in Latin America , CoinDesk’s Marina Lammertyn unpacks how the political turmoil in Peru has led citizens to turn to crypto as a safe haven. Story continues Biggest Gainers Asset Ticker Returns DACS Sector Terra LUNA +20.4% Smart Contract Platform Cosmos ATOM +0.4% Smart Contract Platform Biggest Losers Asset Ticker Returns DACS Sector Solana SOL −4.9% Smart Contract Platform Avalanche AVAX −4.5% Smart Contract Platform Loopring LRC −4.0% Smart Contract Platform Market Moves Potential Ethereum Hard Fork Token ETHPOW May Trade at 1.5% of Ether Price, Futures Suggest By Omkar Godbole If you have been following the crypto market for some time, you probably have heard that Ethereum, the world's largest smart-contract blockchain, could undergo a hard fork later this month, splitting into a proof-of-stake (PoS) chain and a proof-of-work (PoW) chain. The Ethereum chain with the PoS consensus mechanism will retain the seven-year-old ether (ETH), which was recently trading at $1,570, as its native token. The PoW chain, representing a group of miners opposing the impending Merge , or switch to PoS, would have a new token called ETHPOW. If the chain splits, ETH holders will receive ETHPOW free of cost. What's not known is the value of the ETHPOW token. One way to gauge the potential value is to look at the difference between spot ether and futures prices, according to Paradigm, which focuses on over-the-counter trading for institutions. As of Wednesday, ether Sept. 30 expiry contracts listed on major exchanges traded at a discount of $18 to the spot price, indicating the market is expecting the ETHPOW token to draw a price of at least $18 at inception. "We can infer how much the market estimates ETHPOW will be worth from simply looking at spot-future basis, since spot = PoS + PoW, while future is just PoS," Paradigm said in a Merge-focused blog post published Wednesday. "Currently, the basis is implying ETHPOW to be priced ~$18, which is ~1.5% of ETH market cap." Trading giant Cumberland voiced a similar opinion last month, saying, "we can infer how much the market estimates ETHPOW will be worth from the spot-future basis." The logic behind considering the negative $18 basis as a possible ETHPOW price is that the discount represents the risk-free cost of collecting the potential forked tokens. So, if traders are willing to pay $18, they must expect the token to be priced at $18 or higher. Read the full story here . Chart of the Day Bitcoin Exchange Inflows Rise By Omkar Godbole The net transfer volume of BTC from/to exchanges (Glassnode) Centralized exchanges received more than 13,000 BTC on Wednesday, the highest daily net inflow since July 17. Investors usually deposit coins on exchanges when intending to liquidate their holdings. Large inflows, therefore, are taken to represent an increase in coins available for selling. Latest Headlines Crypto.com Pulls Plug on $495M Champions League Sponsorship Deal, SportsBusiness Reports: Regulatory concerns in Europe prompted Crypto.com to scrap the deal. Digital Dollar Project Plans to Explore CBDC Technical Solutions With New Sandbox : The nonprofit organization advocating for a U.S. central bank digital currency plans to work with crypto platforms like Digital Asset and Ripple to explore technical and policy aspects of a digital dollar. || Cryptoverse: Bitcoin's no longer the king of the swingers: By Lisa Pauline Mattackal (Reuters) - Bitcoin's been called a lot of things. Buzzy, beguiling, baffling, even bogus. But never boring. Yet, of late, it's been eerily subdued. The king of the swingers has been uncharacteristically treading water for days at around $20,000 and hasn't ventured far beyond that since June. That spells trouble for traders and exchanges that profit from bitcoin's wild price lurches, and is opening the door to its archrival ether which is preparing to up its crypto game by moving to a meaner and leaner blockchain. "Bitcoin is not dead, it's just boring at the moment, so traders are already looking for alternatives," said Martin Leinweber, digital asset product strategist at MarketVector. Bitcoin's average 30-day volatility - a measure of how its price varies over a set period of time - has slumped to 2.7% from over 4% in early July, according to data firm Coinglass. That number has stayed firmly below 5% in 2022, even in the most turbulent months of the "crypto winter" of depressed prices - a departure from the past five years when even periods of lower volatility were followed by spikes as high as 7%. Similarly, an index from CryptoCompare, which uses bitcoin futures contracts to work out how far prices are expected to change, stands at just over 77, down from above 90 at the start of the year. Bitcoin has seen periods of reduced volatility in the past, often during periods of depressed or falling prices, with its price swings often coming back as trading activity picks up. This slump may be different, though. "This has been a relatively long period of decreased volatility, it's now beyond anything we've seen in even 2019 where these levels lasted around a quarter to a quarter-and-a-half," said Stéphane Ouellette, CEO at crypto derivatives provider FRNT Financial. ETHER OVERDRIVE Leinweber at MarketVector pointed to an uptick in trading for ether and its derivatives as a side-effect of bitcoin's subdued volatility. Story continues Indeed, the price of ether - the No.2 crypto with a market cap of roughly $190 billion versus bitcoin's $380 billion - has risen 50% since the start of July while bitcoin has been flat. Ether doesn't offer more price drama; it is far less volatile, with its highest level being just over 2% in March 2020 during the worst of the COVID market rout, according to data firm Messari. Yet it is soaking up a lot of the crypto buzz at the moment as it stands on the verge of its "Merge", expected to finally happen later this month, when it undergoes a radical shift to a system where the creation of new ether tokens becomes far less energy-intensive. BURNED BY CRYPTO For longer-term investors in traditional assets such as stocks or bonds, narrower swings in prices may seem like a positive. But for many investors and major cogs in the bitcoin and crypto economy, that's not the case. Exchanges, for instance, make money by charging fees on trades; when volatility falls, trading activity tends to evaporate. For crypto hedge funds, which tend to trade on swings in price, stabler values also offer diminishing chances to profit. So what's behind bitcoin's fall in volatility? For one, an investor flight from the broader crypto space, meaning fewer people are willing to trade their coins. Cryptocurrencies have endured a torrid year as investors have dumped risky asset across the board in the face of rising inflation, with bitcoin falling about 60% and ether dropping 55%. Major blow-ups at two major coins and the bankruptcy of a big-name lender have also eroded confidence in the sector. The dollar value of bitcoin trading volumes on major exchanges over a 7-day period has fluctuated between $127 million and $142 million, according to data from Blockchain.com, the lowest levels since October 2020. Similarly, trading in bitcoin futures is at its lowest levels since November 2020, data from the Block showed. "The most elevated levels of volatility typically coincide with the greatest levels of interest in crypto," said Ouellette added. "People got burned and are saying 'I don't really care about crypto right now'." (Reporting by Lisa Pauline Mattackal in Bengaluru; Editing by Tom Wilson and Pravin Char) || Market Wrap: Ether Falls Despite Merge Anticipation; Bitcoin Climbs as Investors Await Inflation Data: It's Ethereum Merge week, and much of the crypto world is eyeing ether, the second-largest cryptocurrency in market value, as its blockchain protocol moves from a proof-of-work to proof-of-stake consensus mechanism. The shift is expected to occur Thursday between 02:38 UTC and 03:52 UTC. Wherebitcoin’s (BTC)price appears linked to Tuesday’s latest inflation reading and subsequent interest rate actions by the U.S. central bank,ether’s (ETH)price movement appears tied to Merge expectations. Despite the divergent catalysts, BTC and ETH remain highly correlated, with a 30-day correlation coefficient of 0.90. The correlation remains high (0.89) when the measurement is narrowed to 10 days. A reading of at least 0.70 is considered high, while one of 0.30 is considered low. • Bitcoin (BTC)rose 3% on Monday, with an initial push occurring during the 07:00 UTC hour. The price continued to move higher throughout the day. Daily trading volume was normal for BTC, when compared with its 20-day moving average. • Ether (ETH)fell 4.8% on Monday, on moderate volume. The price accelerated during the 07:00 UTC hour before declining later. Economic calendar:The British economy grew at a slower pace than expected, with July GDP of 2.3% growth versus expectations of 2.6%. The figure was an improvement over last month’s 1.9% growth rate. Investors’ attention will shift to Tuesday’s U.S. inflation data. The consensus estimate of analysts projects an 8.5% increase in prices while “core inflation,” which excludes food and energy costs, is expected to be 5.9%. The Federal Open Market Committee (FOMC) will be examining inflation data to determine whether to accelerate or slow its pace of interest rate hikes. U.S. equities:Traditional equities markets were higher. The Dow Jones Industrial Average (DJIA), S&P 500 and tech-heavy Nasdaq composite indexes recently rose 0.7%, 1% and 1.2%, respectively. Commodities:In energy markets, natural gas rose 4.9% in price, while crude oil was 1.4% higher. Copper, often viewed as a barometer for overall economic activity, rose 1.2%. Traditional inflation hedge gold increased in price by 0.5% TheDollar Index(DXY), which maintains an inverse relationship to BTC prices, declined 0.57%. Its correlation coefficient relative to bitcoin is -0.9. Altcoinswere higher. Polkadot’s DOT rose 0.3% and Avalanche (AVAX) and Solana (SOL) increased 4% and 6%, respectively. ●Bitcoin (BTC): $22,410+3.2% ●Ether (ETH): $1,725−2.7% ●S&P 500 daily close: 4,110.41+1.1% ●Gold: $1,737 per troy ounce+1.2% ●Ten-year Treasury yield daily close: 3.36%+0.04 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. ETH Markets Appear Cautious Ahead of Merge In what may just be “pre-Merge” jitters, ETH sold off relative to BTC on higher-than-average volume on Monday. As volume can often communicate the level of conviction behind an asset’s price movement, the ETH/BTC pair traded at double its normal volume. Ethereum’s move from aproof-of-workconsensus mechanism to the more energy-efficientproof-of-stakeprotocol is the most significant recent development for ether, its currency. In addition to the reduction in energy consumption, proof-of-stake will potentially have a deflationary impact on ETH supply. The relevance to ETH holders is that a decrease in ETH’s supply should lead to an increase in ETH’s value. The 40% increase in ETH relative to BTC because July indicates optimism leading to the Merge, while the 9.2% decrease since Sept. 8 implies a degree of caution directly ahead of it. The below chart highlights the recent decline, along with a decline in the Relative Strength Indicator for ETH/BTC from 75.7 to 41.4 in recent days. RSI is a technical indicator that measures price momentum. Values above 70 imply that an asset is overvalued, while values under 30 imply that an asset is undervalued. The 41.4 reading is neutral. ETH’s RSI relative to the USD is 57, less neutral than the ETH/BTC pair, but also not ringing overbought alarms. ETH funding ratesare negative, implying bearish sentiment. Funding rates are payments between buyers and sellers of futures contracts. When rates are positive, buyers (longs) of contracts pay sellers (shorts). When rates are negative, the opposite occurs. ETH funding rates were positive each day between May 1 and Aug.14, and negative for every day but five since then. According to data from the FTX exchange, the average annualized 30-day funding rate for ETH is -12.16%, while the average annualized funding rate over 90 days is currently -5.65%. By comparison, ETH’s all-time funding rate is 13.03%. Investors, particularly on the institutional side, could be waiting for the results of the Merge prior to allocating more capital. Additionally, recenton-chaindata shows a slight increase in ETH being sent to exchanges. An increase in assets deposited on exchanges can often be a precursor to additional selling. • Ethereum Blockchain’s Upgrade May Lead to Greater Institutional Adoption of Ether, according to a Bank of America research report:The bank said investors who are barred from buying tokens that run onproof-of-work(PoW) systems may be able to buy ether (ETH) after the blockchain switches toproof-of-stake(PoS), a transition known asthe Merge.Read more here. • Starbucks to Offer NFT-Based Loyalty Program Using Polygon's Blockchain Technology:Starbucks Odyssey will allow customers to purchase digital collectible stamps in a non-fungible token (NFT) form that offer benefits and immersive experiences.Read more here. • Listen 🎧:Today’s "CoinDesk Markets Daily" podcast discusses the latest market movements and a look at the future of crypto regulation. • Ether Lags Bitcoin as Ethereum Merge Nears; Here’s Why:With the ETH/BTC ratio trading at previous highs, some have started to unwind their long ETH/short BTC trade, one researcher said. • Ethereum’s Transition to PoS Could Push PoW by the ‘Wayside’, Ethereum Co-Founder Says:Anthony Di lorio, one of Ethereum’s founders, highlighted the time and effort that the Ethereum Foundation has invested in the change. • US Inflation Data Could Test Bitcoin’s Rally:The price of BTC gained 15% over the weekend as traders wait for positive U.S. inflation data. • Who Can Say Who Is Not Satoshi? Hodlonaut and Wright Go to Trial to Find Out:Craig Wright is suing Twitter influencer Hodlonaut over a series of tweets in 2019 in which Hodlonaut called Wright a fraud and a scammer. [{"Asset": "Ravencoin", "Ticker": "RVN", "Returns": "+23.95%", "DACS Sector": "Currency"}, {"Asset": "The Graph", "Ticker": "GRT", "Returns": "+7.98%", "DACS Sector": "Computing"}, {"Asset": "Solana", "Ticker": "SOL", "Returns": "+7.56%", "DACS Sector": "Smart Contract Platform"}] [{"Asset": "Terra", "Ticker": "LUNA2", "Returns": "-33.04%", "DACS Sector": "Smart Contract Platform"}, {"Asset": "Terra Luna Classic", "Ticker": "LUNA", "Returns": "-23.6%", "DACS Sector": "Smart Contract Platform"}, {"Asset": "PlayDapp", "Ticker": "PLA", "Returns": "-8.97%", "DACS Sector": "Culture & Entertainment"}] 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 Market Index (CMI)is a broad-based index designed to measure the market capitalization weighted performance of the digital asset market subject to minimum trading and exchange eligibility requirements. || Self-proclaimed Bitcoin inventor gave ‘deliberately false’ evidence in High Court: bitcoin A man who claimed to be the inventor of Bitcoin “deliberately” gave false evidence in a High Court defamation trial, a judge has ruled. Craig Wright had sued the YouTube blogger Peter McCormack over a series of tweets and a video claiming Mr Wright had lied about creating the cryptocurrency. Mr Justice Chamberlain awarded Mr Wright just £1 in damages after finding he had put forward "deliberately false evidence" to bolster his libel case against Mr McCormack. The judge described key parts of the cryptocurrency expert’s case as “straightforwardly false in almost every material respect”. The trial has centred around the identity of “Satoshi Nakamoto”, the so-called inventor (or inventors) of Bitcoin. Mr Wright alleges that he is Nakamoto, and used the pseudonym to publish an academic paper in 2008 which laid the foundations for cryptocurrency Bitcoin. The case was brought following a string of tweets from Mr McCormack questioning Mr Wright’s credentials as a cryptocurrency expert. These caused the cancellation of 10 invitations to speak at cryptocurrency conferences during 2019, Mr Wright alleged. The conferences were due to take place in France, Vietnam, the US, Canada and Portugal. Yet the blogger called evidence from academics challenging Mr Wright’s claims of being invited to speak publicly about Bitcoin and to have published peer-reviewed papers. There was also “no documentary evidence to support [Mr Wright’s] case that he had invitations to the conferences.” Although Mr Wright won all of his detailed claims, the judge ruled that his “original case on serious harm, and the evidence supporting it, both of which were maintained until days before trial, were deliberately false”. Lawyers for Mr McCormack argued that his tweets were made in "flippant and light-hearted terms" and were in response to posts by Calvin Ayre, a Canadian businessman, "goading others into accusing Dr Wright of being a fraud". Mr Wright, who holds a doctorate in computer science, is understood to claim ownership of Satoshi Nakamoto’s hoard of 1m Bitcoins, which is worth about £18bn. Story continues Mined in the earliest days of Bitcoin’s existence , none of the coins has ever been used in a transaction. Mr Wright said: "McCormack was wrong when he said I am not Satoshi Nakamoto. "I intend to appeal the adverse findings of the judgment in which my evidence was clearly misunderstood." || Markets: Bitcoin back above US$20,000; Ether, Ether Classic jump ahead of merge: Bitcoin broke back above US$20,000 in Tuesday morning trading in Asia, with most of the top 10 cryptocurrencies by market capitalization gaining. Ether rebounded, while Avalanche also recovered from a drop-off following whistleblower allegations that the company “weaponized” litigation against its rivals. See related article:Markets: Bitcoin fails to hold above US$20,000, Ether slumps, SHIB slides • Bitcoin rose 3.4% in the past 24 hours to US$20,300 as of 8 a.m. in Hong Kong, while Ether jumped 8.5% to US$1,553, according todata from CoinMarketCap. • Ether Classic, the original chain from which Ether was forked, was also up 8% to US$33.58 as both networks are in the spotlight ahead of the upcomingEthereum Merge. • Avalanche gained 5% to US$19.35, after posting its lowest price since mid-July on Monday at US$17.56. This followed areport on Fridaythat alleges Ava Labs, the firm behind the network, made a deal with law firm Roche Freedman to collect confidential information on rival companies to attack them with class-action lawsuits. • “How could anyone believe something so ridiculous as the conspiracy theory nonsense on Cryptoleaks?”said Emin Gün Sirer, Ava Labs founder and CEO on Twitter. “We would never engage in the unlawful, unethical and just plain wrong behavior claimed in these self-serving videos and inflammatory article.” • Solana added 6.9% to US$32.47 and Cardano rose 4.8% to US$0.45. Dogecoin saw more modest gains, adding 3.5% to US$0.063. Uniswap, which has a market cap slightly larger than Ethereum Classic, gained 9.6% to US$6.31 afteradvertising an eventon the firm’s Discord channel to meet the firm’s head of customer experience. • U.S. equities started the week lower, extending the slump on Friday sparked by concern the U.S. Fed remains aggressive about raising interest rates. The Dow Jones Industrial Average and the S&P 500 Index were both down roughly 0.6% on Monday, while the Nasdaq Composite Index closed down 1%. See related article:Bitcoin miners, investors still active in BTC despite price fluctuations || Bitcoin jumps more than 10% as risk appetite ramps up on a pullback in the US dollar from 20-year highs: • Bitcoin surged as much as 13% on Friday to trade above $21,000 for the first time in two weeks. • Crypto prices advanced alongside a jump in US stocks that put the S&P 500 on track to break a string of weekly losses. • Bitcoin and stocks found fuel in a decline in the US dollar, which has surged recently. Bitcoinleapt to a two-week high Friday as a drop in the strong US dollar helped fuel a jump in stocks and other risk assets. Bitcoin gained as much as 13% to $21,375.38, the first time the price has topped $21,000 since August 26. The rise was later pared to 11%. The bounce took place as US stocks advanced, pushing theS&P 500, theNasdaq Composite, and theDow Jones Industrial Averagetoward breaking a three-week long losing streak. The tech-rich Nasdaq was up more than 2% during the session. "Bitcoin is welcoming the return of risk appetite and a falling US dollar. The broad market rally has rejuvenated cryptos and that could continue if investors continue to look beyond hawkish central bank overtures and lingering recession risks," Edward Moya, senior market analyst at Oanda, said in a Friday note. TheUS Dollar Indexfell 0.7% to 108.36, its weakest level in more than a week. The index that measures the greenback's performance against six currencies recently hit fresh 20-year highs beyond 110. The dollar has been advancing as Federal Reserve officials prepare investors for a potential rate hike of 75 basis points later this month, the third consecutive increase of that size, as the central bank works to cool down hot inflation. Ether, which runs on the Ethereum network, rose as much as 6% to top $1,700 for the first time since August 25.Solanamoved 4.2% higher, andcardanopicked up 2%. Users of the Ethereum network are gearing up for theEthereum Merge, a network update scheduled to take place on September 13 through 15. The upgrade is aimed at making the blockchain technology — known for running smart contracts — more efficient and less costly for transactions. Price gains for cryptocurrencies pushed the value of the cryptocurrency market back above $1 trillion this week. The market cap dropped from more than $3 trillion in November 2021 after a months-long, so-called crypto winter. Elsewhere on the crypto front, Sam Bankman-Fried's crypto trading platform FTX said Friday it willacquire a 30% stake in SkyBridge Capital.The investment firm run by Anthony Scaramucci will use a portion of the funds to purchase $40 million in cryptocurrencies to hold on its corporate balance sheet as a long-term investment. Financial terms of the deal weren't disclosed. Read the original article onBusiness Insider || First Mover Asia: Bitcoin Falls to $19.6K as Investors Continue to Mull Fed Chair's Comments: Good morning. Here’s what’s happening: Prices:Bitcoin and ether traded down over the weekend. Insights:Analysts saw Fed Chair Jerome Powell's speech for what it was: an unbridled commitment to tame inflation. Catch the latest episodes ofCoinDesk TVfor insightful interviews with crypto industry leaders and analysis. Andsign up for First Mover, our daily newsletter putting the latest moves in crypto markets in context. Bitcoin Falls Below $20K By James Rubin After clinging tenaciously to support above $20,000 for much of the weekend, bitcoin fell well below this threshold late Sunday. The largest cryptocurrency by market capitalization was recently trading at $19,600, down more than 2% over the previous 24 hours. Ether, the second-largest crypto in market value, was recently changing hands at roughly $1,430, down more than 4% as investors continued to chew over U.S. Federal Reserve Chairman Jerome Powell's vow to continue the monetary hawkishness the Fed adopted earlier this year. That news disappointed some investors hoping for signs of Fed confidence that its steps the last few months were taming inflation and that it might back away from its recent diet of 75 basis point interest rate hikes. "The macroeconomic uncertainties continued to weigh on the price of BTC, and while the [Personal Consumption Expenditures] data came in negative (giving market hopes that the Fed could take a less aggressive stance moving forward), [the] Fed chair's talk on Friday dashed those hopes as he cautioned against premature policy loosening," Joe DiPasquale of crypto asset manager BitBull Capital wrote to CoinDesk. "The market has reacted negatively to those comments and we're seeing bitcoin testing the $20,000 support." Most other major cryptos were recently in the red, with AVAX and ATOM down more than 9% and 6%, respectively. XMR rose about a percentage point. On Friday, bitcoin fell precipitously from the $21,000 perch it held throughout the working week as Powell noted that inflation remains a serious threat. He said that "reducing inflation is likely to require a sustained period of below-trend growth" that would create "softer labor markets," among other impacts. The ongoing strength of the job market has suggested repeatedly that the economy has not fallen into recession. The 3.5% unemployment rate is the lowest level since February 2020. "While higher interest rates, slower growth and softer labor market conditions will bring down inflation, they will also bring some pain to households and businesses," Powell said. “We are moving our policy stance purposefully to a level that will be sufficiently restrictive to return inflation to 2%,” Powell said. Equities and crypto news Cryptos in the late week fall tracked equity markets, which closed substantially lower on Friday, with the tech-focused Nasdaq and S&P 500 plunging nearly 4% and 3.3%, respectively. In recent crypto industry news : Japanis preparingto review existing corporate crypto tax rates in an effort to entice startups to remain in the country, local news outlet Yomiurireported. Japan's financial services agency (FSA) and the ministry of economy, trade and industry are considering a tax reform proposal for 2023 that could exempt crypto startups that issue their own tokens from paying taxes on unrealized gains. Over the weekend, CoinDeskreportedthat Grayscale Investments LLC has been fielding questions from the U.S. Securities and Exchange Commission (SEC) over the firm’s “securities law analysis” of tokens in some of its less-popular crypto trusts. The inquiry, which Grayscale disclosed in little-noticed filings made in June and mid-August, casts a shadow over the trusts’ viability at a time when the world’s largest digital asset manager is already dealing with a precipitous decline in its assets’ value due to the ongoing crypto winter. Grayscale Investments is a digital asset management firm owned by Digital Currency Group, which also owns CoinDesk. BitBull's DiPasquale wrote that "Monday's opening for equities will be key, as any more downside there could push BTC toward the recent lows." "We will be watching for the market's reactions to new lows and aiming to accumulate BTC between $20,000 and $15,000," he wrote. There are no gainers in CoinDesk 20 today. [{"Asset": "Avalanche", "Ticker": "AVAX", "Returns": "\u22129.5%", "DACS Sector": "Smart Contract Platform"}, {"Asset": "Cosmos", "Ticker": "ATOM", "Returns": "\u22128.6%", "DACS Sector": "Smart Contract Platform"}, {"Asset": "Polygon", "Ticker": "MATIC", "Returns": "\u22125.3%", "DACS Sector": "Smart Contract Platform"}] Here's How Fed Observers Viewed Powell's Jackson Hole Speech By James Rubin Speeches by U.S. central bank chairs receive more scrutiny than any others by public officials except for U.S. Presidential addresses. They also draw some of the strongest reactions by analysts, investors and others who make a living observing monetary policy and the economy. Even by these standards, Jerome Powell's remarks at the Fed's Economic Symposium on Friday drew particular attention, coming amid a flood of often confounding economic indicators, including July's decline in the Consumer Price Index (CPI) suggesting that inflation, which reached a 40-year high the previous month, was waning. Would Powell be a hawk, or signal a softening in interest rate hikes? He sharpened his claws. In the strongest terms, Powell said that inflation remained a menace to economic well-being and that the Fed would continue raising rates. “We will keep at it until we are confident the job is done,” he said. Here's how a few commentators from major research and financial services groups view Powell's comments and the likely future impact of ongoing monetary hawkishness: • “They won’t want to be remembered as the central bank that missed inflation or even spurred inflation higher,” said Brian O’Reilly, head of market strategy at Mediolanum International Funds, told The Wall Street Journal. • “The process won’t be painless, and I think he’s being more upfront about that,” said Neil Dutta, head of U.S. economics at Renaissance Macro Research,toldThe New York Times. “The likelihood of recession is rising, because that’s the solution to the inflation problem – that’s what they’re telling you.” • Powell is not budging on having restrictive policy and that should mean the economy will steadily weaken going forward," Oanda Senior Market Analyst Edward Moya wrote in an email. Powell drove home the point that when they are done raising rates that we should expect them to stay there for a long period of time ... There was no dovish pivot, but it seems financial markets are getting close to fully pricing in the remaining Fed rate hikes." • “In essence, Powell is clearly stating that right now, fighting inflation is more important than supporting growth,” said Jeffrey Roach, chief economist at LPL Financial,toldCNBC. 8 p.m. HKT/SGT(12 p.m. UTC):CleanSpark third quarter earnings 8:30 a.m. HKT/SGT(1:30 a.m. UTC):Australia retail earnings (July/MoM) 1 p.m. HKT/SGT(5 a.m. UTC):Japan leading economic index(June) In case you missed it, here is the most recent episode of"All About Bitcoin"onCoinDesk TV: Bitcoin Tumbles Below $21K as Fed Chair Powell Warns Inflation Battle May Be Painful Federal Reserve Chairman Jerome Powell's hawkish speech had bitcoin (BTC) prices sinking, after the central bank leader warned that the war on inflation could be painful. "All About Bitcoin" took a closer look at what's happening in the markets. Blockchain Startup Aims to Open the $1T Diamond Market to More Investors:Diamond Standard believes tokenizing diamonds will make investing in the precious stones easier and more efficient. Grayscale, Disclosing SEC Queries, Says Cryptos XLM, ZEC, ZEN May be Securities:ZEC, ZEN and XLM “may currently be a security, based on the facts as they exist today,” Grayscale said in recent, little-noticed filings. CoinSwitch CEO, in Wake of Searches by Indian Authorities, Says the Crypto Exchange Is 'Fully Cooperating':Singhal also sought to clarify that the "engagement with the ED" is not about money laundering. Web3 Domain Name Service Could Lose Its Web Address Because Programmer Who Can Renew It Sits in Jail:Eth.linkexpired on July 26 and will be up for grabs on Sept. 5, according to GoDaddy. The Merge May Negatively Impact DeFi Protocols, Stablecoins: Report:The transition to proof-of-stake could decrease stablecoin values and shrink lending pools, according to DappRadar. In Defense of Crypto Speculation:Crypto needs speculation. The higher it is, the greater the potential for disruption. (CoinDesk Chief Content Officer Michael Casey) Other voices:The Crypto Geniuses Who Vaporized a Trillion Dollars(New York Magazine) "When the meme stock mania first surfaced, many finance observers wondered whether it would outlast the coronavirus pandemic, which also juiced crypto trading among bored people stuck at home for months on end. That’s still a somewhat open question, but if more companies see upside in actively courting retail day traders we could see “meme interest” remain a significant metric in formal equity markets." (CoinDesk columnist David Z. Morris) [Random Sample of Social Media Buzz (last 60 days)] None available.
Trend: up || Prices: 18802.10, 19222.67, 19110.55, 19426.72, 19573.05, 19431.79, 19312.10, 19044.11, 19623.58, 20336.84
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 2015-03-16] BTC Price: 290.59, BTC RSI: 63.61 Gold Price: 1153.30, Gold RSI: 27.01 Oil Price: 43.88, Oil RSI: 34.20 [Random Sample of News (last 60 days)] Costas Inc. Signs Definitive Agreement with AuthentaTrade Inc.: NEW YORK, NY / ACCESSWIRE / March 13, 2015 /Costas Inc. (OTC Pink: CSSI) (CSSI): Under the approval of the Board of Directors of Costas Inc. (CSSI), an agreement with was consummated yesterday with issuance of shares to AuthentaTrade Inc. AuthentaTrade Inc. is a Canadian company based in Calgary, Canada and offices in Singapore and Cyprus, which in the business of developing a high security digital currency exchange. For some time now, the Costas management team has been diligently working to find a suitable candidate for investment in the digital currency arena. So many companies have proven to be either poorly managed or simply lacked the sophistication to be considered until now. AuthentaTrade Inc., developed specifically to address security concerns in the market place, is developing software that will tighten security to new levels and will also bring technology to the marketplace that will make transacting in digital currencies such as Bitcoin, much simpler. The Company has entered into an agreement that will see the Company owning 48% of AuthentaTrade Inc. in exchange for 250,000 shares of Costas Inc. "Costas will continue to work with AuthentaTrade to secure its next round of financing and also to assist it in expanding its management team," said Kenny Kan, President of AuthentaTrade Inc. Ashley Sansalone, President of Costas said, "We have learned a tremendous amount over the past year about the digital currency market. We have seen both cyber attacks and mismanagement in the space, but we are still firm believers in the technology and the future of Bitcoin. We are confident we have made the right decision in choosing AuthentaTrade. We feel they are well suited to properly steward this new asset class." 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: On behalf of the Board of Costas Inc.Ashley [email protected] SOURCE:Costas, Inc. || Winklevoss twins aim to take Bitcoin mainstream with a regulated exchange - NYT: REUTERS - Cameron and Tyler Winklevoss are trying to firm up support by creating the first regulated Bitcoin exchange in the United States, dubbing it the "Nasdaq of Bitcoin", the New York Times reported. The investor twins have hired engineers from top hedge funds, enlisted a bank and engaged regulators with the aim of opening their exchange — named Gemini — in the coming months, the newspaper reported. ( http://nyti.ms/1Jq2745 ) Representatives at Winklevoss Capital could not be reached for comments outside regular business hours. The Winklevoss twins, who famously accused Facebook Inc founder Mark Zuckerberg of stealing their idea, have been seeking regulatory approval for a bitcoin exchange-traded fund. Bitcoin is a digital currency that, unlike conventional money, is bought and sold on a peer-to-peer network independent of central control. Bitcoin is not backed by a government or central bank and its value fluctuates according to demand by users. Users can transfer bitcoins to each other over the Internet and store the currency in digital "wallets." Last March, New York's financial services regulator Benjamin Lawsky said he wanted companies that want to operate virtual currency exchanges in the state to submit formal applications, in a step toward eventual state regulation of bitcoin exchanges. The New York regulator held two days of hearings with industry participants last January, including the Winklevoss brothers, and said he planned to issue "BitLicenses" to virtual currency firms. (Reporting by Supriya Kurane in Bengaluru) || Microsoft Proves It's Still An Innovator: Microsoft Corporation (NASDAQ: MSFT ) fired back at naysayers who claim the company has fallen behind peers like Apple Inc. (NASDAQ: AAPL ) and Google Inc (NASDAQ: GOOG )(NASDAQ: GOOGL ) in the tech race by unveiling a new operating system and some very impressive hardware Wednesday. Related Link: Windows 10 Offers Chance To Reload On Microsoft If You Didn't Get In Before Windows 10 The company’s latest operating system, Windows 10, is expected to shift Microsoft’s business plan to make room for new devices and embrace the growing popularity of app purchases. The new system will be a free upgrade for many existing users, something that could cost the company as much as $500 million . However, Microsoft is looking to make up for the lost revenue as customers spend on apps and new hardware. The Future Is Here Speaking of hardware, the talk of the town on Wednesday was Microsoft’s latest gadget, a holographic visor. The visor is able to project lifelike 3D images of everything from the surface of Mars to a Skype call. Microsoft said the technology will be ready for mass markets in autumn when Windows 10 is released, but critics believe the company will need more time to prepare the device for the general public. As with all wearables, it remains to be seen whether or not people will be willing to wear the visor, but it is expected to be a popular addition to video games like Minecraft. Virtual reality technology is expected to become a major part of computing in the coming years and it looks like Microsoft will be the first to step into the new arena. See more from Benzinga For Investors, There Are Several Ways To Play The Personal Surveillance Trend 5 Companies To Watch As Music Streaming Explodes Is Bitcoin Poised For Success In 2015? © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Rivetz Showcases Secure E-commerce Transaction on Android at Mobile World Congress: BARCELONA, SPAIN--(Marketwired - Mar 3, 2015) - Mobile World Congress - Rivetz ( http://rivetz.com/ ) today announced it will be demonstrating at Mobile World Congress the most advanced mobile solution for e-commerce transactions, leveraging the built-in hardware security already shipping on most commercial handsets. Rivetz, in partnership with BitPay , will be demonstrating a simple-to-use, open-source payments technology compatible with any Trustonic -enabled smart device. The solution is compatible with many thousands of Bitcoin merchants, offering consumers peace of mind that their Bitcoin transactions are safe, private and secure. Rivetz's technological solution meets all of the requirements of the recently implemented regulations for European payments using smart devices. The Rivetz solution takes advantage of the Trustonic TEE environment built into millions of smart devices to provide the trusted execution space for storing and processing Bitcoin private keys. The solution also takes full advantage of the Trusted User Interface (TUI) for secure PIN entry and secure display of the users' transaction details. Rivetz uses Intercede's MyTAM™ cloud service to securely load the bitcoin wallet into the TEE to protect the app and the data it accesses from threats that may be present on the handset. The solution will be available in the second quarter of 2015 and is compatible with over 350 million existing Android devices, including Samsung smartphones. A short video of the demonstration can be seen at http://bit.ly/1EanqZk , showing the solution running on a Samsung Galaxy Note 4. "Rivetz is delivering state-of-the-art support that will help Bitcoin be a standard, secure capability on every handset," commented Tony Gallippi, Co-Founder and Executive Chairman of BitPay. "We look forward to enabling the Rivetz capability as an option for millions of Bitcoin users." "We are pleased to be working with Rivetz to bring state-of-the-art security and ease-of-use to consumers," said Ben Cade, Trustonic's CEO. "The Rivetz team is offering a great model for any app developer to leverage the advanced security that Trustonic TEE provides." Story continues Intercede CEO Richard Parris added: "Apps used for executing Bitcoin transactions are an attractive target for hackers, who are developing increasingly advanced methods to deploy their malware onto Android handsets. By ensuring the activities of apps are kept separate and secure from the main OS, end users can be assured their Bitcoin transactions are protected." Rivetz provides a software developer toolkit to enable any cryptocurrency or payment app to take advantage of Rivetz's capabilities. To sign up as a developer, visit developer.rivetz.com for more information and access to the tools. Demos will be held daily at the Samsung partner booth Hall 8.1, Trustonic booth Hall 7, Stand 7G81 and at the Intercede booth Hall 7 Stand 7B81. To schedule a personal demo please contact [email protected] About Rivetz Rivetz 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, visit www.Rivetz.com . About Trustonic Trustonic integrates hardware-level security and trust directly into the devices through which we access today's connected world. Trustonic simplifies user experiences in everything from mobile shopping and Internet banking to entertainment to collaborating in the workplace. Trustonic technology is embedded in over 400m smart connected devices, and partners with market leaders such as Samsung , Qualcomm , Symantec, Gemalto and Good Technology . To learn more about Trustonic and how it's making your connected world a better place visit us at www.trustonic.com About Bitpay BitPay is the global leader in Bitcoin payment processing with offices in North America, Europe, and South America. The company has raised over $32 million from top investors including Index Ventures, Founders Fund, and Sir Richard Branson. bitpay.com Contact: [email protected] About Intercede: Intercede is a software and service company specialising in identity, credential management and secure mobility. Its solutions create a foundation of trust between connected people, devices and apps and combine expertise with innovation to provide world-class cybersecurity. Intercede has been delivering solutions to high profile customers, from the US and UK governments to some of the world's largest corporations, telecommunications providers and information technology firms, for over 20 years. In 2015 Intercede launched MyTAM; enabling trusted applications to be loaded into a mobile device's Trusted Execution Environment (TEE), providing hardware-level security for Android apps. The cloud-based service provides a cost-effective and convenient way for developers and corporations to protect their apps and users' sensitive data. For more information visit: www.intercede.com SEO: Bitcoin, Trustonic Tee, Trusted Execution, Wallet, E-commerce, Trusted User Interface, mobile security All product and company names herein may be trademarks of their registered owners. || PRESS DIGEST- New York Times business news - Jan 21: Jan 21 (Reuters) - The following are the top stories on the New York Times business pages. Reuters has not verified these stories and does not vouch for their accuracy. * President Obama claimed credit on Tuesday for an improving economy and defiantly told his Republican adversaries in Congress to "turn the page" by supporting an expensive domestic agenda aimed at improving the fortunes of the middle class. (http://nyti.ms/157n5qP) * Google Inc, along with Fidelity, has invested $1 billion in Space Exploration Technologies (SpaceX), the private rocketry company founded by Elon Musk. The move could help Google achieve its aim of bringing satellite Internet to remote corners of the world while giving SpaceX more money for its founder to pursue dreams of going to Mars. (http://nyti.ms/1xUEaLo) * Netflix Inc is hoping that it will define Internet TV in Swahili, Spanish, Vietnamese, Filipino and dozens more languages within just two years. (http://nyti.ms/1BCPgfJ) * A week after the nation's top auto regulator warned automakers that he would be more vigilant on safety, his agency has taken the unusual move of revisiting the 2013 recall of Ford Motor Corp's biggest pickup trucks. (http://nyti.ms/1EpdN6i) * In Wal-Mart Stores Inc's latest move to offer financial services, it will make customers' tax refunds available in cash at about 3,000 stores. Walmart, the world's largest retailer, will not charge a fee for the cash pickup, but does charge for cashing checks. It acknowledged that it could get a boost by helping to put cash in customers' wallets at a time of sluggish sales and customer traffic declines. (http://nyti.ms/1xw7Mjp) * Work crews burrowed through thick ice and set up containment booms Tuesday in a struggle to vacuum up 50,000 gallons of oil that spilled into the Yellowstone River from a ruptured pipeline, contaminating drinking water. The 12-inch steel pipeline, which burst Saturday morning near Glendive, Montana, about 400 miles east of here, sent light crude oil flowing downstream as far as the confluence with the Missouri River, 60 miles away in North Dakota. (http://nyti.ms/1xUEZ77) * Moving a potential market debut further along the line, the premium burger chain Shake Shack on Tuesday priced the range of its initial public offering at $14 to $16 a share. (http://nyti.ms/1zvyChc) * The Verge, a technology website owned by the online media company Vox, said on Tuesday that it would be airing a Super Bowl advertisement, before revealing that it would in fact be spending just $700 on a regional spot in Helena, Montana. (http://nyti.ms/1ultDJ5) * Standard & Poor's, the giant credit ratings agency, is closing in on a series of settlements with the government that will erode its profit and may damage its credibility as a major player on Wall Street. (http://nyti.ms/1J6hfVX) * On Thursday, Family Dollar Stores Inc shareholders will finally vote on a proposed $8.5 billion acquisition by Dollar Tree Inc, which is offering about $76 a share. If they vote yes, as it appears they are leaning, it will be the death knell for a competing bid by Dollar General Corp that is about $4 a share higher. (http://nyti.ms/1CfDExO) * BGC Partners Inc has increased its offer for the GFI Group Inc, the New York brokerage firm and clearinghouse, in an effort to wrest the company from the arms of its chosen suitor, the operator of the Chicago Mercantile Exchange and the Chicago Board of Trade. (http://nyti.ms/1xUFPkf) * The prominent activist investment firm Starboard Value is still trying to push Staples into buying one of its best-known rivals in the office supplies world. The hedge fund plans to release a public letter urging the company to pursue a takeover of Office Depot Inc, people briefed on the matter said on Tuesday. If Staples does not make a move to do so, Starboard will threaten to seek a fight for representation on the board. (http://nyti.ms/1yHgtvx) * Li Ka-shing, Asia's richest man, has added a major passenger train provider in Britain to his vast empire of corporate holdings, which includes ports, utilities and retail stores. (http://nyti.ms/1JbAjjK) * The private equity firm Sycamore Partners has given up a monthslong effort to acquire Express Inc, the clothing retailer focused on young adults, after failing to secure financing. (http://nyti.ms/1J6jFE1) * Twitter Inc said on Tuesday that it had acquired ZipDial, a nearly five-year-old Indian start-up that aims to help businesses connect with customers in emerging markets who may not have access to the Internet. (http://nyti.ms/1CNymbn) * Coinbase, one of the most popular Bitcoin wallet providers, announced on Tuesday that it had closed a $75 million financing round, the biggest yet for a virtual currency start-up. (http://nyti.ms/1woqzM1) (Compiled by Rama Venkat Raman in Bengaluru) || Bitcoin Makes An Appearance At Davos: Although talk of cryptocurrencies like bitcoin was previously reserved for tech enthusiasts and speculators, the currency has made its way on to perhaps its largest stage yet— the World Economic Forum in Davos. In 2014, the currency was only briefly mentioned at the forum by policy makers and central bankers, often in a negative light. But this year the currency’s growing popularity made it impossible to ignore as a talking point at the conference. Blockchain Puts Bitcoin On The Map Despite the currency’s dip to near $200 in recent weeks, excitement around the technology it is based on, blockchain, has exploded. Startups have begun to emerge touting the ability in incorporate blockchain’s ledger into a variety of industries and promoting the use of bitcoin for the average person. Bitcoin At Davos Economists and central bankers have begun to take notice and made bitcoin and cryptocurrencies the topic of a Friday seminar titled “From Bucks To Bitcoins." Related Link:Blockchain Spreads Its Wings The talk is expected to review how far the currency has come and how it might affect financial services and consumer behavior. Enthusiasts of the currency say the talk at Davos is a big step towards integrating the digital currency into mainstream use. Davos attendees also have the opportunity to understand how bitcoin is used first hand. The digital currency is being accepted as a valid form of payment at many retailers in the area while the conference takes place. See more from Benzinga • Comcast Sees A Rocky Road Ahead • Blockchain Spreads Its Wings • The Marijuana Market Is Expanding: Here Are A Couple Ways To Get Involved © 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 the GKIC 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 by Michael 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 of Press 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. Story continues 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 Marketing Contact: Michael Taggart Phone Number: 1 (208)-908-0626 E-mail Address: [email protected] Mailing Address: 5430 Misty Ridge Way, Boise, ID 83713 SOURCE: Adventure Marketing || The Immediate Future of the Dark Web: The Wednesday conviction of Silk Road creator Ross Ulbrichton seven felony charges demonstrated at least one thing pretty clearly: U.S. law enforcement can not only find but successfully prosecute online operators of the drug market who cloak their criminal dealings behind hidden web addresses—especially when those operators slip up by, say, talking about their drug deals in messages linked to a personal Gmail account. Yet beyond sending a 30-year-old to prison, what does Ulbricht's conviction mean for the so-called "dark web," which continues to grow even after the government shut down both the original Silk Road and its immediate successor? That's far murkier, say experts on cybercrime and privacy issues. In many ways, the largest shift came when federal agents arrested Ulbricht in October 2013 and accused him of being the mastermind of Silk Road, the $1.2 billion criminal enterprise that operated on the hidden Tor network and used Bitcoin as its currency. WithUlbricht in the headlines, the price of Bitcoin plummeted, and the closures of Silk Road and Silk Road 2.0 forced other major hubs of the dark web to add new levels of security to evade law enforcement. Ulbricht's arrest and conviction was a victory for the feds,which had caught him "literally with his fingers on the keyboard"at a San Francisco library after a Department of Homeland Security agent had infiltrated Silk Road and posed as one of Ulbricht's employees. Using his laptop, journal, chat logs, and the network's servers in Iceland and Pennsylvania, prosecutors unloaded a mountain of evidence against Ulbricht and identified him as the man behind the pseudonym, Dread Pirate Roberts. Ulbricht, they said,had even asked applicants to his "bitcoin startup" to use his eponymous Gmail address. A college friend testified that Ulbricht had confided to him that he created Silk Road, and the FBI traced $13.4 million in bitcoins back to Ulbricht's e-wallet,according toWired. The jury took less than four hours to convict him. At the same time, however, the high-profile trial gave a lot of publicity to the dark web, and both the number of sites and the volume of people using them have increased since Silk Road was shuttered, notesThe Dark NetauthorJamie Bartlett, director of the Centre for the Analysis of Social Media at Demos. "I think it's a mixed bag for law enforcement," Bartlett said by phone on Thursday. "The longterm impact was the sites got smarter. They got more careful." The cat-and-mouse game may shift as well. Newer dark sites (two major ones are Agora and Evolution) are likely to protect their servers by basing them in countries "hostile to U.S. law enforcement,"said Nicholas Weaver of the International Computer Science Institutein Berkeley, Calif. "The markets will keep moving overseas, but law enforcement will keep going after the dealers," he said, referring to the people who actually ship and deliver the drugs sold online. On another front—the Fourth Amendment concerns raised by the FBI's discovery of the Silk Road server—Ulbricht's case may set less of a precedent than Internet-freedom advocates originally feared. To the surprise of Weaver and other close observers of the trial, Ulbricht's defense team never fully challenged the government's seizure of the Silk Road server on constitutional grounds, because to have legal standing under the Fourth Amendment, he would first have had to state definitively that the server belonged to him—in other words, he would have had to admit to being the mastermind of Silk Road.Yet as Weaver writes, such an admission would not have been as devastating as it sounds, because it would not have come in open court, with the jury present. "Such a declaration is not an admission of guilt: it can only be used by the prosecution if the defendant testifies. So as long as Ulbricht doesn’t testify, the jury never learns that Ulbricht admits to controlling the server." The judge tossed Ulbricht's motion to suppress the government's evidence from the server, and he did not end up testifying in his own defense. While not denying his involvement with Silk Road, his lawyer, Joshua Dratel, had argued he was framed and that he was not the site's creator. Dratel said he'll appeal the conviction over judge's decision not to allow the presentation of certain evidence and witnesses,TheWall Street Journalreported. In an interview Thursday, Weaver said the judgment against Ulbricht was sound even if the investigation was not. "It is fortunate for us that it looks like this case will have no legal precedent," he said. For now, Ulbricht sits in jail, awaiting both his sentence and his appeal (and asecond, related trial on murder-for-hire charges). The dark web that he helped to build and popularize goes on, with the FBI attempting to track increasingly sophisticated hidden drug, munitions, and hacking markets. "How will law enforcement try to strategically undermine these sites?" Bartlett asked. The answer, he said, might lie in the same undercover methods of monitoring and infiltration the government has used to take down vast child pornography networks, as well as Silk Road. "It becomes a little more like good, old-fashioned policing," Bartlett said, "but in a new space." ReadThe Immediate Future of the Dark Webon theatlantic.com More From The Atlantic • Japan May Force Its Workers to Take Vacation • The Hidden Cost of a Flexible Job • Does Finance Do Any Good for Society? || Ross Ulbricht found guilty of masterminding Silk Road: His attorneys admitted early on in the trial that Ross Ulbricht had created the Silk Road, the online drug bazaar that was busted by the FBI in October 2013 when Ulbricht was arrested. However,the defense strategyof claiming Ulbricht founded the site before passing it on to other operators (even accusing defamedMtGox CEO Mark Karpeles) didn’t work. On Wednesday, a juryfound Ulbricht guilty of chargesrelated to the operation of the online drug website, including computer hacking, money laundering, drug trafficking, criminal enterprise and aiding and abetting the distribution of drugs over the internet. While the prosecution did bring up the murder-for-hire plots, where Ulbricht had solicited help from the Hells Angels to kill a Silk Road user FriendlyChemist, Ulbricht did not face any murder solicitation charges in the trial,according to Bloomberg, and there has been no evidence that the murders ever took place. Throughout the trial, the prosecutors in the federal courthouse in Manhattan sandbagged the defense with mountains of evidence linking Ulbricht to Dread Pirate Roberts, the moniker used by the founder of the Silk Road. Ulbricht was arrested in October 2013 at a San Francisco library, with his laptop open and logged into the network. The prosecutors also brandishedUlbricht’s personal journal, where he wrote about starting the Silk Road and various life events, and compared them to chats from Dread Pirate Roberts (unsurprisingly, there was quite a bit of overlap). Even bitcoin transactions, a network that has long touted its anonymity, were able to be traced from the Silk Road to Ulbricht’s accounts. The defense, on the other hand, had their only two witnesses thrown out by the judge. Ulbricht’s initial trial confession of founding the site seemed to only surprise his family,who had remained steadfastin their campaign for his innocence and funded much of his trial from donations. It was a fast turnaround for the case, with the trial lasting less than a month and the juryonly heading to deliberationon Wednesday morning before returning a guilty verdict later in the day. TheFBI arrested Blake Benthallfor being the alleged operator of Silk Road 2, the successor online market, in San Francisco on November 2014. This story was updated several times as more information became available. Image copyrightFree Ross. Related research and analysis from Gigaom Research:Subscriber content.Sign up for a free trial. • Bitcoin: why digital currency is the future financial system • 4 frameworks for understanding industry change • The responsive back office: lessons from Lean, Agile, and DevOps More From paidContent.org • Under Armour buys MyFitnessPal for $475M || Is Regulation A Necessity For Digital Currency?: Public opinion of digital currencies like bitcoin has dropped dramatically over the past year as hacking attacks, scams and illegal activities cast a long shadow over cryptocurrency enthusiasm. For many, a lack of regulation has made investment in digital currencies a gamble, but bitcoin supporters say that the absence of a governing body setting rules for the currency is what makes it unique. Fedcoin At the beginning of February, Federal Reserve Bank of St. Louis economist David Adolfatto explained his vision of a digital currency managed by the U.S. federal government and pegged against the U.S. dollar. The cryptocurrency, called Fedcoin, would be less volatile than rival currencies, but would still provide users with the low cost transactions available anywhere in the world that other digital currencies offer. Would Regulation Ruin Cryptocurrencies? While Fedcoin may sound like the answer that the digital currency market is looking for, cryptocurrency enthusiasts argue that the idea of a government controlled digital currency defeats the ultimate purpose for which currencies like bitcoin were created— to operate in an economy apart from government control. Once digital currencies are linked to a central bank, they essentially become an online version of that country’s currency, in Fedcoin’s case, the dollar. Related Link: Bitcoin And Tax Season - What You Should Know Government-Controlled Cryptocurrencies On The Horizon Ecuador has already launched its own version of a cryptocurrency linked to the dollar and some other nations are expected to follow suit in the coming years as digital currencies become more and more popular. While government controlled cryptocurrencies may be the next step in the digital currency revolution, they are unlikely to completely erase unregulated options like bitcoin. Still, the stability and security that a digital currency pegged to an existing currency offers could be a popular draw for the general population, whose confidence in cryptocurrency investment has waned significantly. Story continues See more from Benzinga Marijuana Now Legal In America's Wildest State Could Waffles Be The Future Of Logistics? Apple Announces Biggest European Expansion Yet © 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 23 exchange pair(s), yielding profits ranging between $0.00 and $718.76 #bitcoin #btc || LIVE: Profit = $62.22 (11.73 %). BUY B1.98 @ $267.00 (#BTCe). SELL @ $281.00 (#VirCurex) #bitcoin #btc - http://www.projectcoin.org  || BTCTurk 542.46 TL Koinim 573.5 TL CampBx 249.00 $ BTCe 224.737 $ BitStamp 228.15 $ SCounter #Bitcoin #btc http://bitcoindunyasi.com  || OMG! 1 Bitcoin = $231.00 || LIVE: Profit = $116.37 (3.47 %). BUY B15.53 @ $214.69 (#BTCe). SELL @ $220.00 (#CampBx) #bitcoin #btc - http://www.projectcoin.org  || 1 #bitcoin = $14.98 MXN | $1 USD #BitAPeso Precio: http://www.bitapeso.com  - Friday 20th of February 2015 08:00 PM || #Bitcoin last trade @bleutrade $207.00 @btcecom $208.20 @cryptsy $210.39 Set #crypto #price #alerts at http://AlertCo.in  || One Bitcoin now worth $223.33@bitstamp. High $233.00. Low $217.29. Market Cap $ 3.080 Billion #bitcoin pic.twitter.com/3UIcSgsaFC || Current price: 197.13€ $BTCEUR $btc #bitcoin 2015-02-13 05:00:04 CET || LIVE: Profit = $132.01 (1.04 %). BUY B53.66 @ $235.00 (#BTCe). SELL @ $236.64 (#HitBTC) #bitcoin #btc - http://www.projectcoin.org 
Trend: down || Prices: 285.51, 256.30, 260.93, 261.75, 260.02, 267.96, 266.74, 245.60, 246.20, 248.53
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)] China leaves bitcoin mining out of list of restricted activities: SHANGHAI (Reuters) - China, which is among the biggest manufacturers of bitcoin mining gear, has decided against eliminating the mining of the cryptocurrency, the state planner has indicated. The National Development and Reform Commission (NDRC) in April sought public opinion on a revised list of industries it wanted to encourage, restrict or eliminate. Bitcoin mining was among the activities on the list at the time. However, the final list published by the state planner on Wednesday did not mention bitcoin mining. Its exclusion was reported by industry website CoinDesk. It was not clear what the NDRC's reasons were. The NDRC did not immediately respond to a faxed request for comment. China is the world's largest market for computer hardware designed to mine bitcoin and other cryptocurrencies, but such activities have fallen in a regulatory gray area. While China has been developing its own digital currency, it has in recent years moved to tightly regulate the wider sector. In 2017, it started to ban initial coin offerings and shut cryptocurrency trading exchanges and it also began to limit cryptocurrency mining, forcing many firms - among them some of the world's largest - to find bases elsewhere. Nearly half of bitcoin mining pools – groups of miners who team up for economies of scale - are in the Asia-Pacific, a Cambridge University study said last year. Chinese companies are also among the biggest manufacturers of bitcoin mining gear. Last month, Canaan Creative, one of China's biggest bitcoin mining hardware makers, filed to publicly list on the Nasdaq to raise $400 million, its third attempt to do so after previous failed tries in mainland China and Hong Kong. (Reporting by Brenda Goh; Additional Reporting by Shanghai Newsroom) || Bitcoin bulls fighting to defend $7,300: Bitcoin’s price has now fallen for 30 consecutive days (BTC/USD) since a 40% spike on October 25 2019. The fear and greed index is showing ‘extreme fear’ and sentiment across social platforms has quickly turned from bullish to bearish, with some predicting a drop to $2,000 coming soon. However, since touching $6,500, the Bitcoin bulls have started to defend the price, and buying volume has returned to monthly highs across many cryptocurrency exchanges. For now, to avoid any further downside price action, Bitcoin would need to reclaim previous support and close the weekly candle above $7,300. This price acted as a strong level of support back in October, but also acted as strong resistance in 2018 as Bitcoin battled to go higher. If $7,300 can’t be reclaimed over the next week, we may see more bearish price action. Miners to the rescue? Many retail investors speculate that Bitcoin miners will defend the $6,500 region before the next halving (around May 2020) due to the fact Bitcoin mining in this region becomes less profitable. This theory has been proven correct today with the candlewick briefly touching $6,515 before price bounced higher. Third Bitcoin halving Bitcoin’s halving has always been a bullish event for cryptocurrency traders, sending price soaring in the months running up to it. Miners receive 50% less Bitcoin as a reward during every halving, limiting the supply to the market and therefore increasing the price if demand is high. Previously, during the second Bitcoin halving (July 9 2016), Bitcoin experienced a 115% increase in price during the six months running up to the event (see chart below), which was then followed by the bull run of 2017. During the month before this increase in price, Bitcoin suffered a 40% dip. Currently, we’re six months away from the next halving. However, we’ve now had a 51% dip in price since October’s spike. Bitmain’s CEO Jihan Wu has publically said he doesn’t believe we will see an increase in price like previous years, but is still long-term bullish for cryptocurrencies. Story continues “There are many uncertainties, but now is a good time to invest in crypto mining. If I were a miner, I would not stop mining but continue to invest in mining equipment. We are currently in a short-term correction of price. Having a long-term perspective is significant. If Bitcoin’s price remains unchanged after the halving, the efficiency of existing equipment must be improved to balance efficiency and computing power.” Other investors such as Willy Woo have pointed out that Bitcoin has historically entered the first months of a halving in far more bullish circumstances, usually only seeing huge sell-offs like the one we’re witnessing now after the event has taken place. Bullish macro-trend still intact? Currently, the previous macro-trend line sits right around $7,300 – exactly where we would expect to see a reversal to start reclaiming bullish momentum. If I was to confidently say “the bottom’s in”, I’d like to see some consolidation around this price following this trend line for the next week before our next move up. If we want to look for further bullish indicators which may suggest a reversal in price, we can look at the daily BTC/USD chart and the MACD indicator. This is showing as oversold at similar levels to the December 15 2018 low. We can also see a possible trend reversal starting to appear on the RSI. Bitcoin has its work cut out over the next few weeks to bring confidence back to many buyers and entice the bulls back into play. However, could the upcoming halving be enough to regain interest in the market? Disclaimer: The views in this article are the views of the author and are not to be taken as financial advice. Always do your own research before investing in cryptocurrencies. The post Bitcoin bulls fighting to defend $7,300 appeared first on Coin Rivet . || Volcker Might Have Said Yes to a Digital Dollar – If He Knew What It Was: What would the late former Federal Reserve Chair Paul Volcker have thought about digital currencies issued by central banks? The short answer is nobody knows; Volcker never really got steeped in the fast-developing world of crypto. “Bitcoin? What’s that?” Volcker replied when asked about the largest cryptocurrency by a Quartz reporter in April 2013. “I’m too old to know anything about that.” Related:China’s Central Bank Likely to Pilot Digital Currency in Cities of Shenzhen and Suzhou: Report The question is worth asking, though, since Volcker, whodied this weekat 92, is regarded as perhaps the most effective and credible Fed chief of the past half century. Volcker led the U.S. central bank from 1979 through 1987 and is known primarily for jacking up short-term interest rates to as high as 20 percent to short-circuit double-digit inflation. The aggressive move helped to push the U.S. into recessions in the early 1980s, driving theunemployment rateto nearly 11 percent from 6 percent and drawingoutcry and pushback from corporate executives, unions and lawmakers. But by the mid-1980s, the inflation rate dropped back below 2 percent, and the economy resumed its growth. Now, the Fed and central bankers around the world are grappling with the emergence of a new form of money: digital currencies made possible by cryptography and advances in the distributed-ledger technology known as blockchain. Authorities fromGhanatoSwedenare examining the concept while China, the world’s second-largest economy, is moving forward withtests of a digital version of its national currency, the yuan. Some observers of say China’s effort might be partly geared to undermine the U.S. dollar’s supremacy. The promise of these government-backed digital currencies is that they might reduce the need for paper bills and coins, making it easier for consumers and businesses alike to exchange payments. Those are benefits that Volcker likely would have embraced, saysRichard Sylla, a New York University economics professor emeritus who specializes in financial history. Related:Mnuchin ‘Fine’ With Libra Launch, But Crypto Project Must ‘Fully’ Comply With AML Rules “One of the arguments for digital currencies is that it could lower the costs of moving money around the world,” Sylla said in a phone interview. “And he certainly wouldn’t have been against investigating the possibility of that.” Sylla, who knew Volcker professionally, says he was with the former Fed chief once when he was about to fly to Mexico for a meeting. According to Sylla, Volcker casually remarked that the world might be better off if it had a single currency; things might just be simpler that way. Of course, the U.S. dollar serves as the de facto global reserve currency, stockpiled by central banks and investors in just about every country. The U.S. is the world’s largest economy, and the dollar serves as the default tender for many cross-border loans as well as payments in international trade and big global commodity markets like oil and gold. There’s also the need for dollars to buy dollar-denominated assets like U.S. Treasury bonds, seen as a better store of value than risky assets like stocks in an economic downturn or financial crisis. Volcker was a critic of Wall Street financial-engineering products like credit-default swaps and collateralized loan obligations, and he famously pushed (successfully) after the 2008 crisis to stop banks from making speculative proprietary trades with customer deposits. But Volcker was reportedly a fan of technological improvements to make the financial system work faster and more efficiently, or to improve the ease of payments in the broad economy. Volcker said in December 2009 that he thought theATM machinewas the most important innovation in the banking industry of the prior two decades, because it “really helps people and prevents visits to the bank and it is a real convenience.” Dick Bove, a five-decade financial-industry analyst for the brokerage firm Odeon Capital, said in a phone interview that Volcker likely would have opposed bitcoin and other digital assets built by independent developers. According to Bove, Volcker believed that “central banks should have control of the financial system in a given nation, and it should have control of interest rates and the volume of currency being created, and it should be used to help the country meet whatever goals are needed at any point in time.” But a digital currency issued by the central bank? Bove bets Volcker would have been all for it – just for the sake of keeping up with new technology. “If the need for a central bank digital currency arose, I think Volcker would have created it,” Bove said. U.S. Treasury SecretarySteven Mnuchin said last weekthat he and the current Fed chair, Jerome Powell, agree there’s no need for a digital version of the dollar “in the near future, in the next five years.” Paul Brodsky, a partner at the crypto-focused investment firm Pantera Capital, said Volcker likewise might have taken a cautious approach to a digital dollar rollout. “He would have waited and let it see how it played out in the private sector before pushing forward with a Fed digital currency,” Brodsky said. Jimmy Song, with crypto-focused venture capital firm Blockchain Capital, says Volcker might have endorsed a digital dollar as a technology. But that leaves unsolved what Song sees as the basic problem that led to the original formation of bitcoin, in the wake of the 2008 crisis: technocrats’ efforts to exercise too much control over money, leading to mistakes and excesses. Volcker is “not someone who wanted to give people self-sovereignty or freedom,” Song said in a phone interview. “A Fed-backed digital currency is conceptually not very different from the system that he oversaw. It’s mainly just an infrastructure upgrade.” David Yermack, chair of New York University’s finance department, said he knew Volcker and that the late Fed chief was surprisingly conservative when it came to the benefits of limited government. One benefit of some digital-dollar proposals is that individuals might be able to deposit money directly with the Fed, without having to set up accounts at commercial banks. But that might create the “risk of abuse for political reasons,” since the government would have more direct control over people’s money, says Yermack, who teaches courses on bitcoin and has co-authored research papers on central-bank digital currencies. Some critics of China’s push for a digital yuan argue that it would simply become easier for central authorities to monitor citizens. The benefits of a central bank digital currency “might be desirable but encroach on personal freedom,” Yermack said. Volcker “had a lot of faith in the private sector. He was never a person who stressed big government for its own sake.” But according to Sylla, the financial historian, Volcker would not have wanted to cede monetary authority to private companies like Facebook, which is developing a digital asset for payments, known as Libra. “What Volcker would have said if he were still with us and we could ask him, is that the idea of a central bank digital currency was an idea worth studying, but I’m pretty certain he would not want it to be under the control of Mark Zuckerberg,” Sylla said, referring to Facebook’s CEO. • What the Fed Reserve’s Balance Sheet Expansion Means for Bitcoin • Ghana May Issue Digital Currency in ‘Near Future,’ Says Central Bank Chief || Bitcoin threatens drop below $7K in another bad day: Bitcoin (BTC)—the world’s leading cryptocurrency by market capitalization—is having another bad day, as the crypto markets continue to tumble. The price of Bitcoin today sank as low as $6,900 in the early morning hours, but has since recovered to around $7,300, according to data from CoinMarketCap. Yesterday, Bitcoin was trading at a less-than-stellar $7,400 per coin. Today, the coin dropped a further five percent, shedding as much as $500 from that price before recovering slightly. The price of Bitcoin is even lower than where it stood following the dismal introduction of Bakkt , the Bitcoin futures exchange for institutional investors, and the drop that the coin sustained just before Mark Zuckerberg’s testimony to Congress regarding Facebook’s Libra . Why did Bitcoin crash again today? Experts explain In fact, Bitcoin hasn’t seen these lows since May. At the time, Bitcoin was trading for a mere $3,500 per coin before going on a bull run throughout the summer. But there’s something about the month of November that doesn’t sit well with Bitcoin. This is now the second year in a row that Bitcoin goes “on sale” right around Thanksgiving. Go figure. Bitcoin, though, isn’t the only crypto suffering. Ethereum (ETH) dropped below $150 per token today, while Bitcoin Cash (BCH) is trading for just over $200. || Bitcoin, Ripple & Litecoin - American Wrap: 12/11/2019: Bitcoin price analysis: BTC/USD $7000-6800 will be a big test • The Bitcoin price on Wednesday is trading in the red by some 0.80%, as some near-term selling momentum picks up pace in the second half of the session. • Market bears have resumed pressure to the downside, following a brief period of stabilization. The price has breached a bearish pennant structure via the daily view and is further extending to the downside. Ripple Technical Analysis: XRP/USD finds support at the hourly trendline • Ripple has consolidated on the hourly chart after dropping from 0.2338 to 0.2197. • The market has made a few higher lows but now looks to be testing lower levels. • 0.22 is the psychological support zone and if taken out, could indicate lower levels are on the cards. Litecoin Technical Analysis: LTC/USD lower highs spells danger • Litecoin price is trading in the red in the session by some 1.20%. • LTC/USD has extended to the downside, after breaking out of a bearish pennant pattern, inviting another round of selling. • The price is running towards its third consecutive session in the red. Image Sourced from Pixabay 0 See more from Benzinga • Bitcoin, Ethereum & Ripple - American Wrap: 12/5/2019 • Bitcoin, Ethereum & Litecoin - American Wrap: 12/4/2019 • Bitcoin, Ripple & Litecoin - American Wrap: 12/2/2019 © 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || The Last Hawk Flew to Heaven: Tall Paul Has Gone A great man passed away. Literally. Paul Volcker – who died on Monday, probably due to prostate cancer complications, at 92 – stood 6 feet and 7 inches high, or more than 2 meters. But Volcker’s impressive height wasn’t the only thing he could boast of. Our Readers are aware that we are not fans of central bankers, but we have to admit that Volcker not only literally but also figuratively cast a long shadow across the Fed, standing out by both past and current standards. First of all, Volcker was probably the last Fed Chair that we could even remotely describe as the monetary hawk ready to fight inflation. As David Stockman wrote Volcker accomplished this true anti-inflation objective with alacrity. By curtailing the Fed’s balance sheet growth rate to less than 5 percent by 1982, Volcker convinced the markets that the Fed would not continue to passively validate inflation, as Burns and Miller had done, and that speculating on rising prices was no longer a one-way bet. Volcker thus cracked the inflation spiral through a display of central bank resolve, not through a single-variable focus on a rubbery monetary statistic called M1. So, this is why you have heard about Greenspan’s put or Bernanke’s put, but not about the Volcker’s put. The latter was not a hostage to the Wall Street (at least not in such an obvious and shameless way as his successors). And Volcker also demonstrated political independence (yes, Reagan supported him, but many influential politicians wanted to take him down). As a reminder, he lifted the federal funds rate to 22 percent to tame double-digit inflation, as the chart below shows. Chart 1: Effective federal funds rate (green line) and annual CPI inflation rate (red line) from January 1970 to October 2019. Yes, you read it correctly: twenty two percent. So Volcker had the courage to do the right thing, even when it was immensely unpopular (there were even “Wanted” posters targeting Volcker for “killing” businesses) and led to a short-term recession. As William Poole, the St. Louis Fed President wrote in 2005, Story continues Without his bold change in monetary policy and his determination to stick with it through several painful years, the U.S. economy would have continued its downward spiral. By reversing the misguided policies of his predecessors, Volcker set the table for the long economic expansions of the 1980s and 1990s. Now, compare Volcker to Powell, who got scared of several Trump’s tweets and modest corrections in the stock market and reversed the monetary tightening when the target for the federal funds rate was at mere 2.25-2.50 percent. Real hawks are gone. Implications for Gold This is, of course, positive for the gold prices from the fundamental perspective. The Fed shows more and more pronounced dovish bias. We know that inflation is much lower than in the Volcker era, but we bet dollars to doughnuts that even if inflation soared above 10 percent again, we would not see even approximately similarly strong Fed’s response as Tall Paul delivered. Another positive factor for gold prices are low real interest rates that declined due to Volcker having won the fight with inflation and restoring credibility in the U.S. monetary policy. However, this is also the gold’s curse. Thanks to Volcker, the Fed still enjoys relatively high prestige and investors’ trust. Hence, it seems that the dovish bias is not enough to spur a rally in gold. The yellow metal needs a grave Fed’s error or an economic crisis that will shake investors’ confidence and direct people toward safe havens. If you enjoyed today’s free gold report, we invite you to check out our premium services. We provide much more 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. In order to enjoy our gold analyses in their full scope, we invite you to subscribe today. You can still subscribe to our Alerts at very promotional terms – it takes just $9 to read the details right away and then receive follow-ups for the next three weeks. If you’re not ready to subscribe yet though 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. Sign up today! Disclaimer : Please note that the aim of the above analysis is to discuss the likely long-term impact of the featured phenomenon on the price of gold and this analysis does not indicate (nor does it aim to do so) whether gold is likely to move higher or lower in the short- or medium term. In order to determine the latter, many additional factors need to be considered (i.e. sentiment, chart patterns, cycles, indicators, ratios, self-similar patterns and more) and we are taking them into account (and discussing the short- and medium-term outlook) in our Trading Alerts. Thank you. Arkadiusz Sieron, PhD Sunshine Profits – Effective Investments Through Diligence and Care This article was originally posted on FX Empire More From FXEMPIRE: GBP/USD Daily Forecast – Sterling Brushes off Poll Results and Shows Strength USD/JPY Forex Technical Analysis – Strengthens Over 108.853, Weakens Under 108.718 The UK General Election – It’s the Final Countdown Bitcoin Cash – ABC, Chainlink and Ripple Daily Analysis – 11/12/19 AUD/USD and NZD/USD Fundamental Daily Forecast – Optimism over Trade Deal Underpinning Aussie; Profit-Takers Hitting Kiwi Silver Miners Pinpoint the Precious Metals’ Outlook || North Korea Set Up a Blockchain Firm to Launder Crypto to Cash: UN: North Korea has been using a Hong Kong-based blockchain company to launder money, according to a quarterly report from the UN Security Council’s Sanctions Committee on North Korea. As reported by South Korean newspaper Chosun, North Korea employed a shipping and logistics firm called Marine China, which runs on a blockchain platform, to avoid international sanctions by laundering stolen cryptocurrency. The report claims a man named Julian Kim, under the alias Tony Walker, was the sole owner and investor in the firm, and had attempted to withdraw money from banks in Singapore on several occasions. As per Chosun, the UN claims the laundering scheme, which also involved another undisclosed individual linked to the firm, circulated the stolen crypto through upwards of 5,000 transactions in multiple countries to obfuscate its source. Related: Hong Kong Regulator to Treat Some Crypto Exchanges Like Brokers The report further states that North Korea has developed precision “spear-phishing” attacks. Over the past three years, a previous UN report said, 17 countries have been targeted by its hacking experts resulting in over $2 billion in losses – a figure that regime has denied . Chosun adds that the report also notes the development of malicious code used to move stolen bitcoin to a server located at Pyongyang’s Kim Il-sung University. Severe sanctions against North Korea from the UN and other international bodies have pushed the country’s regime towards cryptocurrencies over time. This September, Vice reported the country is developing its own cryptocurrency with properties similar to bitcoin to sidestep international sanctions. North Korea image via Shutterstock Related Stories UK Banking Pilot Aims to Streamline Compliance Using Factom Blockchain Bitcoin Dissident Sees Dark Warnings in China’s Blockchain Push New Tool Will Find Secrets – Including Crypto Keys – in Your Public Code || Authoritarian Airdrop: Maduro ‘Gifts’ Petros to Venezuelans for Christmas: If 2019 saw bitcoin come together around the digital gold/digital SoV narrative, is 2020 poised for a resurgence of the idea of payments utility, thanks to Lightning powered applications? One beta test of a LN point-of-sale app suggests maybe. Derivatives continue to grow as an area of focus for both retail and institutional traders, with CoinFLEX bringing in some new talent to expand its derivative competitions and institution-focused ErisX sending notice that futures trading would begin tomorrow. Finally, Venezuela’s President Maduro has announced that public employees and pensioners will be given a holiday bonus of half a petro. Sincere effort or another example of how digital currencies can be a tool of control? Related: Bitcoin-Savvy Retailers to Experiment With Point-of-Sale Lightning App in 2020 Topics for December 16, 2016 A Lightning-powered point of sale app is live in trials with physical retailers. CoinFLEX brings in ex-Binance talent to expand derivative competitions and ErisX poised to go live tomorrow. Venezuelan President Maduro announces holiday bonus airdrop. Related Stories MARKETS DAILY: Weird News Out of Canada and a Predicted Bull Run Venezuela’s Maduro Says He Will Airdrop Half a Petro Each to Public Employees, Retirees Stone Bitcoins and Echoes From the Past || Fidelity creates blockchain token to reward employees: Fidelity’s Center for Applied Technology (FCAT) has successfully completed trials of a new digital token to reward employees for performance and attendance. In collaboration with San Francisco-based security token platform TokenSoft, Fidelity has now created and deployed an internal token using the ERC-1404 token standard. ERC-1404 tokens are compliant with US Securities and Exchange Commission (SEC) guidelines for securities, and like ERC-20 tokens on Ethereum, they can be tailored to specific use cases. Mason Borde, TokenSoft’s CEO, announced the initiative back in June at FCAT’s ‘Bits and Blocks Club’ – a Fidelity employee learning group for digital assets. At the time, Juri Bulovic, Blockchain Product Manager at FCAT, commented: “For employees, it’s a real use case for restricted tokens and gives them an opportunity to get hands-on experience with tokens, wallets, and other blockchain technology to understand how it works and how we might apply this in other areas.” The token, referred to as ‘BBT Token’, was deployed as a restricted token standard used by Fidelity’s Bits and Blocks Club. Members could use the BBT Token as part of a closed-loop rewards system, which rewarded employees for attending internal training events. Most importantly for Fidelity, it was the first use of a token which could have complex regulatory and operational requirements coded into its contract. The token was controlled via TokenSoft’s Token Administration Platform, which has been designed specifically for institutional-grade scenarios. Fidelity’s focus on digital assets Fidelity has long held a focus on bringing digital assets to institutional investors, announcing in October 2018 that it would be offering “ enterprise-quality ” custody and trading for Bitcoin to its customers. The firm reiterated its positive stance on blockchain with the live launch of Fidelity Digital Assets early in 2019, created to offer cryptocurrencies and blockchain-based assets to family offices, pensions, and hedge funds. Story continues Abigail Johnson, CEO of Fidelity Investments, has previously shared that the firm’s crypto efforts are part of a bid to attract Wall Street investors into the digital asset space. Johnson shared in January: “Our goal is to make digitally-native assets, such as Bitcoin, more accessible to investors.” Fidelity’s deployment of an internal token is evidence of its commitment to educating its employees on digital assets and wrestling with some of the toughest regulatory and technical challenges in the space. The post Fidelity creates blockchain token to reward employees appeared first on Coin Rivet . || Bitcoin, Ethereum & Litecoin - American Wrap: 12/12/19: Bitcoin Price Analysis: BTC/USD gradually grinding down critical support, but there may still be hope • The Bitcoin price on Thursday is trading in the red by some 0.11%, remaining vulnerable to an imminent potential breakout south. • BTC/USD continues to hover around the lowest levels since May 2019, as the price consolidates underneath a breached pennant structure. It had been containing Bitcoin from 23 November up to 9 December. Ethereum Technical Analysis: ETH/USD continuing to test critical 0 support • Ethereum price is trading in the red by some 0.13% the session on Thursday. • ETH/USD is further extending to the downside following flag breakout. • The price is running towards its fourth consecutive session in the red. Litecoin technical analysis: LTC/USD sitting on critical weekly support at • Litecoin price is trading in the red in the session by some 0.50%. • LTC/USD is having some trouble near-term finding a bottom, 25 November low eyed for support. • The price is running towards its fourth consecutive session in the red. Image by mohamed Hassan from Pixabay 0 See more from Benzinga • Bitcoin, Ripple & Litecoin - American Wrap: 12/11/2019 • Bitcoin, Ethereum & Ripple - American Wrap: 12/5/2019 • Bitcoin, Ethereum & Litecoin - American Wrap: 12/4/2019 © 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. [Random Sample of Social Media Buzz (last 60 days)] Top 5 #cryptocurrencies Alert Time: 2019-11-18 12:01:09 #Bitcoin: $8,564.265 #Ethereum: $185.069 #XRP: $0.263 #BitcoinCash: $267.346 #Tether: $1.011 #bitcoin #binance #SmartCash #enigma $LTC https://t.co/rdEr8N5koT || @HaileyLennonBTC Bitcoin and it lead me to Bitcoin || Transfer news: Henry Onyekuru set to leave Everton and join.. @newstwiteafrica - @InvestCrypForex - DailyMailUK - Twitter - News - Noticias - Bitcoin - CryptoCurrency - Forex https://t.co/rp6ViBH0F5 || @itsdenverbitch @Coinventionio You want to hear positive and negative. Too much bullish news creates an echo chamber and discourages free thinking. Form your own opinion of bitcoin, be it good or bad. listen to: @TFTC21 @WhatBitcoinDid @stephanlivera @DavidJNage @laurashin and research topics of interest. || Bitcoin Price Analyst: ‘Second Phase’ of Bull Market Triggers at $14K https://t.co/v4q1Bnu9Er || [1D] #Bitcoin market is strongly trending up current momentum suggests the market is neutral. #currency #trading #binary visit: https://t.co/yuSljvM9Fq for more! || @AmadaaJake 1000000 DGTX (~ $100000) Free ALREADY LISTED ON EXCHANGE This is Real. Don't miss!! Steps to Join 🌐 Go to Website👉https://t.co/s1ydTzVRGX 🔘 Click on "Join Waitlist" and Submit Email Address 🔘 Verify Email. #Airdrop #Token #Crypto #bitcoin #ether #giveaway || Crypto Signal Alert News Bitcoin Binance BOT Crypto signals &amp; Crypto mobile APP – Crypto Classifieds https://t.co/qTVgXHsINI || 4What do you think of #SatoshiNakamoto 's creation so far? 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Trend: up || Prices: 7422.65, 7293.00, 7193.60, 7200.17, 6985.47, 7344.88, 7410.66, 7411.32, 7769.22, 8163.69
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 falls 10% as China plans to investigate exchanges: The price of bitcoin(Exchange: BTC=-USS)fell by around 10 percent after Chinese authorities announced plans to inspect bitcoin enterprises. The People's Bank of China published an announcement this morning that it will carry out site inspections on January 17 to check whether enterprises dealing in bitcoin have the correct licenses, have implemented anti-money laundering systems and whether there is market manipulation. Following the announcement, the digital currency fell from around $915 to as low as $784.56. Bitcoin is currently hovering around the $806 mark. Chinese investors dominate the global bitcoin volume trade. For some time, Chinese regulators have been concerned about bitcoin and whether it is having a negative effect on the renminbi(Unknown: CNY00H=). Last week, the People's Bank of China met with three of the country's largest bitcoin exchanges to talk about market regulations. Charles Hayter, chief executive and founder of digital currency comparison website CryptoCompare, said today's announcement was a "ratcheting of the rhetoric" from the Chinese authorities. "Instead of 'we're watching' you it's now 'we're investigating' you," he told CNBC. "The intentions of the Chinese state are clearer and it looks like they're trying to bring the Chinese bitcoin exchanges to heel - whether they are looking to make an example is yet to be seen." Hayter added that the move may have positive impacts in the long term, as it may bring more respectability to the industry as it matures. "But in the short term this could affect volumes which have been one of the key drivers of the recent rally." Bitcoin had been steadily rallying through 2016 and appreciated to more than $1,100 on January 5th, near to its record high,but the digital currency subsequently crashed,dropping back to the $900 level. Follow CNBC International onTwitterandFacebook. || 2 big banks are backing a startup doing for global trade what Google did for advertising: Tradeshift Christian Lanng (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." Story continues 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 that the 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 was valued at over $500 million in its latest funding round earlier this year, according to the Wall Street Journal. NOW WATCH: Why Korean parents are paying for their kids to get plastic surgery More From Business Insider Bitcoin is surging Here's why 2017 will be a turning point for the UK marketplace lending industry The price of bitcoin is at a 2016 high || 10 things you need to know before the opening bell: Soccer fan masks (General view of a fan with Jamie Vardy masks on the seats before the match.Reuters/Reuters Staff) Here is what you need to know. Dow 20,000 is in the crosshairs . The Dow Jones Industrial Average booked a fractional gain on Tuesday, finishing at 19,945.04. The index is set to open higher by 0.1% near 19,971. Bitcoin is up again . The cryptocurrency is up about 3% at $958, and trading at its best level since November 2013. Bitcoin has gained $135, or 16.4%, over the past week. Toshiba crashes after warning of a multi-billion dollar writedown . Shares of the chips-to-construction group tumbled 20% on Wednesday after the company warned it might need to take a larger than expected writedown on its acquisition of Chicago Bridge & Iron. Delta cancels an order from Boeing . Delta Air Lines has canceled an order for 18 Boeing widebody 787 Dreamliner jets, with a list price of $4 billion, that was inherited from its takeover of Northwest Airlines, the Seattle Times says. BP is buying gas stations in Australia . The London-based oil giant has agreed to pay $1.3 billion for Woolworths' 527 retail fuel outlets in Australia, according to Bloomberg. Qualcomm got hit with an $854 million fine by South Korea . The Korea Fair Trade Commission, South Korea's antitrust regulator, has ruled that Qualcomm hindered competition as a result of its business practices of patent licensing and smartphone modem chip sales, Reuters reports. Panasonic is investing in a Tesla production facility . Panasonic will invest $256 million in a Tesla production facility that makes photovoltaic (PV) cells and modules, Reuters reports. CEO pay is rising in the UK, but "economic profit" isn't . A report released by the CFA Institute showed CEO pay in the UK has climbed 82% in the last 13 years, but the average company generated less than a 1% return for investors. Stock markets around the world are up . Hong Kong's Hang Seng (+0.8%) paced the gains overnight and Britain's FTSE (+0.4%) leads in Europe. Story continues US economic data trickles out. Pending home sales will be released at 10 a.m. ET. The US 10-year yield is unchanged at 2.56%. More From Business Insider Alt-right movement descends into civil war after leading figure is booted from Trump inauguration event 'Star Wars' actress Carrie Fisher is dead at 60 Here's a super-quick guide to what traders are talking about right now || 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) || STOCKS HIT ALL-TIME HIGHS: Here's what you need to know: (Lucas Jackson/Reuters) Stocks touched all-time highs on Thursday after US President Donald Trump said he would release his plan to reform the tax system in the next few weeks. Although they back-tracked on some of their gains near the end of the trading day, all three major indices still finished in the green. First up, the scoreboard: • Dow:20,172.40, +118.06, (+0.59%) • S&P 500:2,307.87, +13.20, (+0.58%) • Nasdaq:5,715.18, +32.73, (0.58%) • US 10-year yield:2.397%, +0.057 • WTI Crude:$53.09 per barrel, +0.75, +1.34% 1.US President Donald Trump said that in the new few weeks he will release his plan to reform the US tax system. "We're going to be announcing something over the next, I would say, two or three weeks that will be phenomenal in terms of tax," Trump said at a meeting with airline executives on Thursday. He added that he is "lowering the overall tax burden on American businesses, big league." 2.The Bank of Mexico hiked rates by 50 basis points to 6.25% in its latest interest-rate decision. In the accompanying statement, the bank noted that emerging markets were facing greater uncertainty regarding fiscal, commercial, and migration policies under consideration by the new US administration. 3.Airline stocks rallied after Trump promised to fix the "out of whack" air traffic control system. American Airlines was up by over 3%, Southwest was up by 2.7%, JetBlue was up by 3.6%, United Continental was up by 1.7%, and Delta was up by 2.9%. 4.Twitter's stock tanked after the company warned its revenue growth would continue to "lag" its recent spike in users. Its stock was down by 10.6% in premarket trading on Thursday. 5.Bitcoin tanked after Chinese exchanges announced they were blocking customers from withdrawing their bitcoins. The cryptocurrency was down by 9.6% around 9:30 a.m. ET.Thursday's announcements are notable becausenearly 100% of all bitcoin transactionstake place on Chinese exchanges. 6.New York City landlords have never been this aggressive about filling up vacant apartments.In January, concessions like a month of free rent and brand-new appliances rose to a record high in both Manhattan and Brooklyn, according to the real-estate appraiserDouglas Elliman. Concessions hit new highs for a fourth straight month, and the share of new leases with such giveaways was above 30% for the first time. 7.Yum Brands whiffed on sales as fewer people eat at Pizza Hut.Yum Brands Inc, the owner of KFC and Taco Bell, reported a lower-than-expected rise in quarterly sales at established restaurants worldwide as fewer diners ate at its Pizza Hut chain. 8.Initial jobless claims unexpectedly fell.Claims,which provide a weekly count of the number of people who applied for unemployment insurance for the first time, fell to 234,000.Moreover, the four-week moving average came in at 244,250, which is the lowest level since November 3, 1973 when it was 244,000. Additionally: One chart shows just how devastating healthcare costs are for American families. Here's one name Trump will hear when he looks to replace Janet Yellen as Fed chair. Trump's plan to make Wall Street unregulated again won't go unchallenged. This is how you know something desperate is going on in China's economy. Top Bridgewater exec explains how its intense, unique culture helped the world's largest hedge fund make $50 billion. Be very afraid of the stock market, argues Business Insider's Linette Lopez. Here's how many people in every state don't have health insurance. NOW WATCH:Here's how to use one of the many apps to buy and trade bitcoin More From Business Insider • 20 must-have tech accessories under $20 • Kellyanne Conway encourages Americans to 'go buy Ivanka's stuff,' potentially violating ethics rules • These 13 online classes will help you learn something new in 2017 — and they’re all $10 || Bitcoin exchange BTCC: China hasn't said margin trading illegal: By Brenda Goh SHANGHAI (Reuters) - The head of Chinese bitcoin exchange BTCC on Thursday denied media reports that the central bank had ruled it was offering margin loans illegally, and he said the platform is operating normally. However, Chief Executive Bobby Lee told Reuters the company had stopped offering margin loans last week alongside competitors such as Huobi and OkCoin, after "discussions" with the People's Bank of China (PBOC). He gave no details. "No one has said that margin trading for bitcoin is illegal," Lee said. He said the media reports were "not based on any official documentation. So as far as I'm concerned, at this moment, we have not received any official documentation, verbal or written feedback from the PBOC with regards to their conversations with us over the last two weeks." The PBOC declined to comment. Beijing Youth Daily, a state-run newspaper, said on Thursday that a PBOC investigation found that China's three largest bitcoin exchanges were illegally conducting margin trading, and such activity stoked abnormal market volatility. Another state-owned media, Economic Information Daily, said that the Shanghai branch of China's central bank had found "hidden risks" in BTCC. SPOT CHECKS On Jan. 11, the central bank launched spot checks on BTCC, Huobi and OkCoin to look into a range of possible rule violations, amid increasing government efforts to stem capital outflows and relieve pressure on the yuan currency. 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. Late on Wednesday, after some Chinese media reports were published, the price of bitcoin fell nearly 8 percent on the BTCC exchange to 5,724 yuan, equivalent to around $835. By Thursday, the price had recovered to around 6,120 yuan. Spokeswomen for OkCoin and Huobi confirmed to Reuters that their platforms had also stopped offering margin loans, but both did not respond to queries on whether they had received official notices from the PBOC. Story continues Lee of BTCC also said the exchanges had discussed introducing trading fees and were open to that, but said the regulator might have to get involved before this could happen. The absence of trading fees has encouraged volumes and boosted demand at the Chinese bitcoin exchanges. (Reporting by Brenda Goh; Editing by Richard Borsuk) || Forget about Dow 20K: Bitcoin's about to hit $1,000: Bitcoin, the controversial digital currency, is on its way to a major milestone thanks to a confluence of positive factors. With just a couple trading days left in the year, bitcoin(Exchange: BTC=)looks poised to break the $1,000 barrier — quite an achievement for a product considered close to dead not that long ago amid a series of embarrassing headlines. The price has surged 122 percent in 2016, making it one of the top trades of the year. The increase has been driven by a number of factors. China and India both have been big buyers as part of a broader global landscape that has pushed bitcoin's acceptance further along. Chinese investors have bought bitcoins as the yuan has lost its value, while the surge in India has been driven thanks to the government's decision to retire some currency denominations. "It is one tool that many people around the world use to try to preserve wealth," said Nick Colas, chief market strategist at Convergex who writes a widely followed daily newsletter that was likely the first on Wall Street to discuss bitcoin several years ago. "Bitcoin has gone from being just a nerd's version of gold years ago to now being another thing people do to try to hold onto their wealth." Indeed, the total value of bitcoins in circulation now is about $15.5 billion, based on more than 16 million bitcoins. Bitcoin has been one of the investment stories of the year. Only two stocks in the S&P 500(INDEX: .SPX)— Nvidia(NASDAQ: NVDA)and Oneok(NYSE: OKE)— have delivered better returns. No nonleveraged exchange-traded fund has beaten bitcoins, with the SPDR S&P Metals & Mining(NYSE Arca: XME)fund coming closest with a 110 percent gain this year. Of currency trades, the best has been the euro's 16 percent gain against the British pound. Still, mainstream acceptance remains elusive and investors shy away due to the cryptocurrency's volatility. "Not yet," Colas said when asked if bitcoin had achieved legitimacy as a system of payment or currency. "It will be mainstream when you can walk into a bank and order a bitcoin account. We're not close to that yet." Still, both usage and acceptance are growing, even if still not widespread. Some 45,000 businesses now accept bitcoins as payment, according to Coinbase. Among them are Dell, PayPal and Time. In a recent Twitter exchange with users, Airbnb CEO Brian Chesky said he was surprised by the demand for bitcoin payment integration for the peer-to-peer lodging app. (An active Reddit forumon the topic opened earlier this week.) Bitcoin prices fell in morning trade Thursday, though it continued to flirt with a record high. While Wall Street waits for the Dow(Dow Jones Global Indexes: .DJI)to top 20,000, bitcoin eclipsing $1,000 could well come first. "It's hard to say what was the breakthrough year or if we've had a breakthrough year yet," Colas said. "Certainly in price terms, this has been a pretty impressive year. But in terms of broad mass market adoption, it's still to come." More From CNBC • Top News and Analysis • Latest News Video • Personal Finance || Gartman: Bitcoin Is Nearly Incomprehensible At This Point: After skyrocketing 43.7 percent in the final two weeks of 2016, the Bitcoin Investment Trust (OTC: GBTC ) has made a sharp reversal in the past two days. On Thursday, the ETF plummeted 11.6 percent . In early Friday trading, the GBTC is down another 7.7 percent. According to Dennis Gartman , author of The Gartman Letter, a Bitcoin selloff was inevitable. Gartman says the recent runup in Bitcoin came from Indian and Chinese citizens rushing into the currency to avoid weakness in their native denominations. “These sorts of things always...ALWAYS...end badly and they ended yesterday amidst early buying panic and then even greater panic selling,” Gartman writes. Gartman adds that he hasn’t ever seen anything like the trading action in Bitcoin in the past 48 hours. He predicts that the panic-selling is not yet over and Bitcoin investors could be staring at significantly more downside in coming days. He also hints that the complexity of Bitcoin’s technology may be scaring off potential investors. “Bitcoin may be the currency of the future but quite honestly we find it quite nearly incomprehensible at this point,” Gartman concluded. The GBTC ETF was up roughly 90 percent in 2016. A new big-board-listed Winklevoss Bitcoin ETF could be launched sometime in 2017. See more from Benzinga How Did Bitcoin Perform This Year? © 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin is zooming higher: Bitcoinis zooming higher on Tuesday, up 2.1% at $1,060.76 per coin as 9:43 a.m. ET. Tuesday's bid has the cryptocurrency higher for a ninth straight day and at its best level since January 5, when it put in a multi-year high of $1161.88. While the catalyst for Tuesday's gain is difficult to decipher, the advance comes after data released by the People's Bank of China showed China's foreign currency reserves in Januaryfell below $3 trillionfor the first time in nearly six years. China's hunger for bitcoin has been well documented withnearly 100% of bitcoin's volumecoming from the country. Bitcoinhas had a wild start to 2017 after gaining 120% in 2016. The cryptocurrency rallied more than 20% in the opening week of the year before tumbling 35% amid concerns China was going tocrackdown on trading. Bitcoin has recently shrugged off an announcement made by China's three largest bitcoin exchanges that they were going to begin charging a flat fee of 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 is rallying for an 8th straight day • Bitcoin is back above $1,000 • Bitcoin is busting out || Bitcoin's total value hits record high above $14 billion: By Jemima Kelly LONDON (Reuters) - The total value of all bitcoins in circulation hit a record high above $14 billion on Thursday, as the web-based digital currency jumped 5 percent on the day to its highest levels in three years after more than doubling in price this year. The price of one bitcoin reached $875 on the Europe-based Bitstamp exchange, its strongest level since January 2014, putting the cryptocurrency on track for its best daily performance in six months. That compared with levels around $435 at the start of the year, with many experts linking bitcoin's rise with the steady depreciation of the Chinese yuan, which has slid almost 7 percent this year. Data shows the majority of bitcoin trading is done in China, so any increase in demand from there tends to have a significant impact on the price. Bitcoin is a web-based "cryptocurrency" that can move money across the globe quickly and anonymously with no need for a central authority. That makes it attractive to those wanting to get around capital controls, such as China's. The digital currency is still some way off the peaks it scaled in late 2013, when it traded as high as $1,163 on the Bitstamp exchange. But because more bitcoins continue to be added to the system, currently at a rate of 12.5 every 10 minutes, its total value - or "market cap" - on Thursday surpassed the 2013 peak of around $14.01 billion. That puts its total value at around the same as that of an average FTSE 100 company. Charles Hayter, founder of data analysis website Cryptocompare, said bitcoin had been helped higher by demonetisation in India, and by global political uncertainty. "If that trend continues, bitcoin is a good thematic play on the fracturing of our global norms as a flight to safety," he said. (Reporting by Jemima Kelly, editing by Nigel Stephenson) [Random Sample of Social Media Buzz (last 60 days)] $1014.90 #bitfinex; $1015.36 #GDAX; $994.00 #btce; $1012.20 #bitstamp; $1014.78 #gemini; Bitcoin Mining: http://bitly.com/2kmoC9o  || Earned 30 btc from .3 btc .... with in 13 days.... || GETしたら、ご報告しますね(´∂ω<｀) || Nocks, Gulden Drop Bitcoin Support, Cite Bad Reputation and Slow Transactions https://goo.gl/fvp9zA  || New post: "Serious question - Are the recent actions of the PBOC having any impact on Chinese mining?" http://ift.tt/2ll4qEl  || Moon Bitcoin - The bitcoin faucet where YOU decide when to claim! http://moonbit.co.in/?ref=e8048b99a2dd … #bitcoin #faucet via @Moon_Bitcoin || k4Ss0x2cj1ZwprKhoOLElzAVWRdi3CJfXneUI79Yqvu6DtyNHb https://cards.twitter.com/cards/00018ce54gcewm/00035pe3 … k4Ss0x2cj1ZwprKhoOLElzAVWRdi3CJfXneUI79Yqvu6DtyNHb || 2/ #segwit [...] could also lend itself to increased Bitcoin privacy, as well, if it is activated by the network. || We Shouldn’t “Kill” Bitcoin But Regulate: Former Bank of China Governor to CCTV http://bit.ly/2llTEhd  | #cryptocurrency #altcoin || $903.68 #bitfinex; $878.00 #btce; $898.90 #bitstamp; $905.75 #GDAX; $903.78 #itBit; $905.22 #gemini; #bitcoin news: http://bit.ly/1VI6Yse 
Trend: up || Prices: 1079.98, 1115.30, 1117.44, 1166.72, 1173.68, 1143.84, 1165.20, 1179.97, 1179.97, 1222.50
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)] Google Play Forces Crypto Wallet Samourai to Remove Security Features: Google Play Store Cryptocurrency Crypto wallet Samourai removed security features introduced in its latest app update after Google Play found them in conflict with its “store policies.” Sad but true, @GooglePlay is forcing us to remove Stealth Mode, SMS Commands, and SIM Switch Defense features as they transition to becoming more of a "Walled Garden" – despite the fact these features have proven record of helping users transact safely. https://t.co/kLRQT9PWvh — Samourai Wallet (@SamouraiWallet) January 8, 2019 The app’s Twitter handle confirmed that it has disabled features called Stealth Mode, Remote SMS, and SIM Switch Defense. A separate blog post accused 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. Similar Features Allowed on Other Apps 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. Story continues 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.” Alternatives to Play Store 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 post Google Play Forces Crypto Wallet Samourai to Remove Security Features appeared first on CCN . || Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 08/12/18: Bitcoin Cash ABC fell by 1.49% on Friday, following a 16.37% slide on Thursday, to end the day at $104.53, a 5thconsecutive day in the red for the current week leaving Bitcoin Cash ABC down 38.42%. A bearish start to the day saw Bitcoin Cash ABC slide through the first major support level at $97.6 to an early morning intraday low and new swing lo $94.6 before bouncing back. The mid-morning bounce back saw Bitcoin Cash ABC strike an intraday high $115.36 before easing back to a relatively range bound afternoon, sub-$100 support giving Bitcoin Cash ABC a hold onto $100 levels by the day’s end. At the time of writing, Bitcoin Cash ABC was down 1.47% to $106.07, a bullish start to the day seeing Bitcoin Cash ABC move from a start of a day morning low $103.27 to a morning high $108.89 before easing back. The day’s major support and resistance levels were left untested early on. For the day ahead, a hold above $105 through the morning would support another run at $110 levels, with sentiment across the broader market to dictate whether Bitcoin Cash ABC can take a run at the first major resistance level at $115.06. Failure to hold above $105 levels could see Bitcoin Cash ABC cough up the morning gains, with a fall through the morning low $103.27 bringing sub-$100 levels and the day’s first major support level at $94.3 into play before any recovery. Exchange support for the Bitcoin Cash ABC network has provided some relief at the start of the weekend. Litecoin fell by 5.39% on Friday, following on from Thursday’s 8.63% slide, to end the day at $24.77, a 4thday in the red for the current week leaving Litecoin down 25.7% Monday through Friday. Following a relatively range bound morning, an early afternoon slide to an intraday low and new swing lo $22.24 saw Litecoin fall through the first major support level at $24.59 and second major support level at $22.92 before finding support. Litecoin managed to bounce back to $25 levels before easing back late in the day. At the time of writing, Litecoin was up 4% to $25.76, with Friday’s late in the day recovery continuing into the early hours, Litecoin rising from a start of a day morning low $24.73 to a morning high $26.53 before easing back. For the day ahead, a hold onto $25 levels through the morning would support another run at $26 levels to bring the first major resistance level at $26.66 into play before any reversal, though it’s not just Litecoin that will need to hold onto key levels through the morning to support an afternoon breakout. Failure to hold onto $25 levels could see Litecoin fall back through the morning low $24.73 to $23 levels, with the day’s first major support level at $22.56 in play later in the day should Litecoin see red. Ripple’s XRP fell by 1.6% on Friday, following an 8.34% slide on Thursday, to end the day at $0.30582, a 4thday in the red for the current week leaving Ripple’s XRP down 17.77% Monday through Friday. Relatively bearish through much of the day, Ripple’s XRP fell through the first major support level at $0.2954 to a late afternoon intraday low $0.29225 before bouncing back. A late in the day recovery saw Ripple’s XRP strike an intraday high $0.3196, falling well short of the first major resistance level at $0.3370 before easing back to $0.30 levels by the day’s end. At the time of writing, Ripple’s XRP was up 3.64% to $0.31696, with Ripple’s XRP breaking through the first major resistance level at $0.3195 to a morning high $0.32845 before easing back. For the day ahead, a move back through the first major resistance level at $0.3195 to $0.32 levels would support a run at $0.33 levels and the second major resistance level at $0.3332, with Ripple’s XRP needing to hold onto $0.31 levels through to the early afternoon to support a move later in the day. Failure to move back through the first major resistance level at $0.3195 could see Ripple’s XRP hit reverse later in the day, with failure to hold onto $0.31 levels likely to see Ripple’s XRP pullback through a morning low $0.3057 to bring the first major support level at $0.2922 into play before any recovery. Buy & Sell Cryptocurrency Instantly Thisarticlewas originally posted on FX Empire • Gold Weekly Price Forecast – Gold markets test major resistance • EUR/USD Weekly Price Forecast – Euro rallies during week • USD/JPY Weekly Price Forecast – US dollar falls for the week • Crude Oil Weekly Price Forecast – crude oil markets looking to find a bottom • Crude Oil Price Forecast – crude oil markets show strength on Friday • GBP/USD Weekly Price Forecast – British pound hovers above major support || Crypto Wallet Sales Still Going Strong, Says Ledger President: The market for cryptocurrency has seen better times as Bitcoin struggles to stay above $4,000 and crypto hedge funds shut up shop. But one corner of the market seems to be weathering the downturn just fine: Ledger, which makes crypto hardware wallets, says sales are just fine. “I’m happy to report Black Friday ’18 was almost on par with Black Friday ’17,” Pascal Gauthier, President of hardware maker Ledger, told Jen Wieczner when he dropped by our Balancing the Ledger studio this week. While Black Friday sales may not reflect the health of the wallet market, let alone that of the larger crypto industry, Gauthier’s anecdote does come as a rare bit of encouraging news. Gauthier attributes the ongoing interest in hardware wallets (which he describes in the video above) to big institutions entering the crypto market. Unlike the run-and-gun attitudes that prevailed during last year’s crypto mania, Gauthier says these companies treat security as a paramount priority, and added that new crypto projects are laser-focused on security as well. In a crypto environment where hacks and heists are still common, people see hardware wallets as especially secure because they are a way to store funds on a physical device rather than online. (They do, however, give rise to risks of kidnapping—read about this caper involving a dumb crypto crook and a Ruby Tuesdays). Gauthier added that Ledger’s customers also include law enforcement agencies, which are increasingly confiscating crypto funds from criminals. Hardware wallets like Ledger’s flagship Nano S provide a way for these agencies to hold the funds. While Ledger’s customer base consists of individual crypto holders, the company also sells directly to businesses through Ledger Vault, its new B2B unit. Gauthier also said the company is exploring ways to offer its distinct security features in other areas, including the emerging Internet-of-Things economy. Asked to describe the mood during the current bear market, Gauthier acknowledged people are discouraged but also took a long view. “The mood always follows the price,” he said. “People sometimes forget these all new technologies are very new. You shouldn’t ask too much from new technologies.” || Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 07/01/19: Bitcoin Cash ABC gained 4.21% on Sunday, reversing a 0.68% fall from Saturday, to end the week up 1.94% to $165.24. A relatively range bound first half of a day saw Bitcoin Cash ABC fail to break through to $160 levels, while an early morning intraday low $157.00 saw Bitcoin Cash ABC hold well above the first major support level at $154.68. Tracking the broader market, a late afternoon rally kicked in, with Bitcoin Cash ABC breaking through the 38.2% FIB of $163 and first major resistance at $163.86 to an intraday high $166.52 before easing back. At the time of writing, Bitcoin Cash ABC was down 1.08% to $163.45, with a bearish start to the day seeing Bitcoin Cash ABC fall from a morning high $165.22 to a morning low $163.45, the day’s major support and resistance levels untested, with Bitcoin Cash ABC holding above the 38.2% FIB of $163. For the day ahead, a hold onto $163 levels through the morning would support a recovery later in the day, a move through the morning high $165.22 bringing $168 levels and the first major resistance level at $168.84 into play, Bitcoin Cash ABC needing support from the broader market to break through to $170 levels later in the day. Failure to hold onto $163 levels could see Bitcoin Cash ABC fall through to $160 levels to call on support at the first major support level at $159.32, with market sentiment across the broader market to dictate whether Bitcoin Cash ABC will fall through to Sunday’s $157 low. Litecoin surged by 12.76% on Sunday, following on from a 7.68% rally on Saturday, to end the week up 23.2% to $38.88. Recovering from an early morning dip to an intraday low $34.06, Litecoin enjoyed another bullish day, rallying through the late morning and afternoon to an intraday high $40.12. Litecoin broke through the first major resistance level at $36.39 and second major resistance level at $38.3 to hit $40 levels for the first time since 19thNovember before easing back to $38 levels late in the day. At the time of writing, Litecoin was down 0.98% to $38.50, with Litecoin pulling back from a start of a day high $39.48 to a morning low $38.15 before steadying, the day’s major support and resistance levels left untested early on. For the day ahead, a move back through the morning high would support a break back through to $40 levels, with a resumption of the latest rally likely to draw in side lined investors to bring the day’s major resistance levels into play, the first major resistance level at $41.31 the bulls primary target. Failure to move back through the morning high could see some money come off the table following a week of solid gains, with a pullback through to $37 levels bringing the first major support level at $35.25 into play before any recovery. Ripple’s XRP gained 4.38% on Sunday, reversing a 2.02% fall from Saturday, to end the week down 1.46% at $0.3768. An early morning intraday low $0.35442 saw Ripple’s XRP hold above the first major support level at $0.3481 before support from the broader market kicked in. Ripple’s XRP made gains through the early afternoon to hit $0.36 levels before a late afternoon bounce. The bounce saw Ripple’s XRP strike an intraday high $0.38498, breaking through the first major resistance level at $0.3762 before easing back to $0.37 levels late in the day, a broad based rally across the majors driving Ripple’s XRP through the 2ndhalf of the day. At the time of writing, Ripple’s XRP was down 0.38% to $0.37537, with a start of a day $0.37922 high and morning low $0.37341 leaving the major support and resistance levels untested in what’s been a relatively range bound start to the day. For the day ahead, a hold above $0.3730 levels through the morning would support a move back through the morning high $0.37922 to bring $0.38 levels and the first major resistance level at $0.3897 into play before any pullback, the broader crypto market needing another breakout to support a run at $0.40 levels later in the day. Failure to hold above $0.373 levels could see Ripple’s XRP take a bigger hit later in the day, a fall through to $0.36 levels bringing the first major support level at $0.3592 into play before any recovery, sub-$0.35 support levels unlikely to be in play barring a broad based crypto sell-off. Buy & Sell Cryptocurrency Instantly Thisarticlewas originally posted on FX Empire • Natural Gas Price Fundamental Weekly Forecast – Introduction of Cold into Forecast Could Bring Back Volatility • USD/JPY Fundamental Weekly Forecast – Sentiment Shift Should Be Supportive • U.S Mortgages – Rates and Applications Slide Again • Natural Gas Price Futures (NG) Technical Analysis – Forecast Change Should Trigger Upside Breakout • GBPUSD Price Forecast – British Pound To Trade With Positive Bias On US Greenback’s Weakness • The Week Ahead – Trade, Brexit, Central Banks and Trump in Focus || Bitcoin And Ethereum Price Forecast – Lack of Fundamental Support To Result in Further Decline For Major Cryptos: Having run its course, the recent recovery rally in crypto market has come to end and major crypto currencies have now erased all most all gains made from early week while a few have even fallen back to monthly lows. Lack of fundamental support remains one of the major factors that has affected and continues to affect price action of major crypto coins in last few months. While news driven momentum helps Altcoins from time to time any such rally has so far turned out to be dead cat bounce. While crypto market saw all major Altcoins and Bitcoin lose nearly 10% since yesterday with market losing over $100 billion in value, news of Bitwise reaching out to SEC for approval of Bitcoin ETF to be traded in NYSE Arca provided some cushioning effect. News of Bitwise’s ETF Approval Request To SEC Cushions Downside Price Action According to latest tweet in Bitwise’s official twitter account , the cryptocurrency Asset Management firm has filed an initial registration statement to US Securities and Exchange Commission (SEC) for ETF to be traded in NYSE Arca and they are hopeful that the request will be approved as they believe that unlike other ETF’s which have come in front of SEC, they are special owing to regulated third party custodians who will hold their physical Bitcoin . It remains to be seen if this change will have any impact on SEC’s standing over approval of Bitcoin ETF’s and while the approval is highly unlikely it has helped major Crypto’s find some support on their downside price action. Since the tweet hit market yesterday, Bitcoin has traded in relatively range bound fashion. A look at hourly chart shows that Bitcoin has remained stable near $3600 handle and traded in relatively neutral pace across Asian and European market hours. Unless the key support of $3500 mark is breached Bitcoin will continue to move in range bound fashion but a break below said level will leave the BTC/USD pair vulnerable to sharp fall till $2700 to $2400 price range. Meanwhile investor’s caution ahead of next week’s Ethereum updates also limits trading volume in crypto market significantly. Ethereum has breached another psychological support at $130 handle and is on slow downside price action. Limited trading volume and continued profit booking could lead the pair to test support level of $100 by weekend if the ETH/USD pair continues losing ground at current pace. A lack of news to push the altcoins higher amid prevalent market scenario will likely result in further decline of bitcoin and other major crypto currencies over the weekend. Story continues This article was originally posted on FX Empire More From FXEMPIRE: Silver Weekly Price Forecast – Silver markets pause Natural Gas Price Forecast – natural gas continues to consolidate GBP/JPY Weekly Price Forecast – British pound continues to languish against yen EUR/USD Weekly Price Forecast – Euro breaks the 1.15 handle S&P 500 Weekly Price Forecast – stock markets press previous important levels AUD/USD Weekly Price Forecast – Australian dollar rallies || Elon Musk’s Bad Week Gets Worse as SpaceX Lays off 600 People: spacex elon musk layoff SpaceX, the rocket company founded by Tesla billionaire Elon Musk , is laying off 10 percent of its 6,000-employee workforce. The layoffs are part of a move to streamline the business and cut costs. “SpaceX must become a leaner company,” President Gwynne Shotwell wrote in a Friday email. The news was first reported by the Los Angeles Times . ‘Extraordinarily Difficult Challenges Ahead’ Shotwell explained: This means we must part ways with some talented and hardworking members of our team. This action is taken only due to the extraordinarily difficult challenges ahead and would not otherwise be necessary. The company is providing a minimum of eight weeks’ pay and other benefits to the fired workers. SpaceX launch Investors Dazzled by SpaceX Elon Musk — the billionaire founder of electric-car company Tesla — launched SpaceX in 2002 to make space travel accessible to everyday people. In addition, SpaceX’s goal is to colonize Mars. Equidate’s Robert Hilmer says SpaceX is one of the most valuable private companies in the world, with the potential to raise an “unlimited amount” of capital. “SpaceX is one of [the most] popular pre-IPO tech companies globally,” Hilmer told CNBC . Everywhere I travel around the world, investors of all types — individuals, family offices, hedge funds, sovereign wealth funds or private equity — want to get into SpaceX. Meanwhile, Musk is taking the downsizing in stride. He has not commented on the layoffs, preferring instead to focus on upcoming space launches. Starship test flight rocket just finished assembly at the @SpaceX Texas launch site. This is an actual picture, not a rendering. pic.twitter.com/k1HkueoXaz — Elon Musk (@elonmusk) January 11, 2019 The South African business mogul is more concerned that SpaceX’s newest test flight rocket has a cool, aerodynamic design. Story continues “Obv must be more pointy tho,” Musk tweeted, in reference to the tip of the rocket. Obv must be more pointy tho — Elon Musk (@elonmusk) January 11, 2019 Musk is an unwitting media darling who generates countless headlines. In August 2018, Musk stirred a volcanic backlash from Tesla investors after tweeting that he might take his car company private. Weeks later, the SEC sued Musk for securities fraud, claiming his errant tweet caused Tesla stock to spike 6 percent that day. Shareholders were enraged when Tesla shares abruptly tanked in the following days. The debacle forced Musk to step down as chairman in September 2018 and pay a $20 million fine to the SEC. Elon Musk: I am Not Satoshi Nakamoto Despite being a technophile, Elon Musk does not own crypto , as CCN reported. “I literally own zero cryptocurrency, apart from .25 BTC that a friend sent me many years ago,” Musk confessed on Twitter. In November 2017, Musk denied speculation that he was Satoshi Nakamoto, the inventor of Bitcoin. A former SpaceX intern inadvertently started the rumor with a blog post. Sahil Gupta wrote at Medium : “Satoshi is probably Elon.” Elon is a self-taught polymath. He’s repeatedly innovated across fields by reading books on a subject and applying the knowledge. It’s how he built rockets, invented the Hyperloop (which he released to the world as a paper), and could have invented Bitcoin. Musk responded by denying that he invented Bitcoin. Meanwhile, the real identity of Satoshi Nakamoto has never been confirmed. Featured Image from Shutterstock The post Elon Musk’s Bad Week Gets Worse as SpaceX Lays off 600 People appeared first on CCN . || Dow Dips, Bitcoin Clings to Gains as Tuesday Promises Volatility: The Dow Jones Industrial Average enters Tuesday seeking to snap a streak of two consecutive losing sessions, but the specters of the Brexit vote and earnings season threaten to derail the index’s mid-week recovery. The cryptocurrency market, meanwhile, continues to flash green, as bitcoin and other large-cap assets cling to Monday’s recovery while bracing for Constantinople, Ethereum’s upcoming hard fork. Traditional markets remain shaky ahead of Tuesday’s opening bell, and futures contracts tracking the Dow and its peers spent much of the day bouncing around their levels at Monday’s close. As of the time of writing at 8:32 am ET, Dow futures were down just 2 points to 23,865, while S&P 500 and Nasdaq futures both traded slightly in the green with gains of 0.11 percent and 0.42 percent, respectively. Yesterday, the Dow, S&P 500, and Nasdaq all closed in the red for the second consecutive day after posting a five-day winning streak. The Dow dropped 86.11 points or 0.36 percent, once again failing to break through and hold above the elusive 24,000 mark. The S&P 500 shed 13.65 points or 0.53 percent, and the Nasdaq endured a 65.56 or 0.94 percent drop-off. Nevertheless, all three indices remain firmly in positive territory for 2019 and have mostly erased the mid-December losses that contributed to the stock market’s dismal end to last year. Wall Street continues to closely monitor corporate earnings as analysts weigh theriskof the US economy slipping into a recession. Sentiment turned sour on Tuesday morning after JP Morgan missed profit expectations for the first time in 15 quarters. According toCNBC, the Jamie Dimon-led banking giant accrued $1.98 per share in profit during the fourth quarter of 2018, well below the $2.20 per share that analysts had expected. LikeCitigroup, which missed revenue targets but nevertheless rallied on stronger-than-expected profit figures, JP Morgan blamed a decline in bond trading revenue for weighing on its fourth-quarter performance. “Despite a challenging quarter, we grew markets revenue in the investment bank for the year with record performance in equities and solid performance in fixed income,” CEO Jamie Dimon said in the earnings release. Dimon, who has said that he does not believe the US is heading into the outer rings of a recession, nevertheless admonished the country’s leaders to “strike a collaborative, constructive tone, which would reinforce already-strong consumer and business sentiment. Businesses, government and communities need to work together to solve problems and help strengthen the economy for the benefit of everyone.” But while corporate earnings promise to remain a lingering concern for the stock market’s recent recovery, today’sBrexit votecould be a far more pressing threat. British Prime Minister Theresa May’s Brexit plan is expected to fail in parliament today —perhaps spectacularly— but analysts predict that the vote will inject significant volatility into the markets, so much so that many brokers have limited leverage for UK stocks and currency futures. As Marc Chandler, Bannockburn Global Forex chief market strategist, toldCNBC: We could see knee-jerk volatility. She could lose by a historic margin. This could be a historic loss by the government. In preparation for this seeming eventuality, May told senior ministers that she would continue to work to facilitate Britain’s orderly exit from the European Union and “respond quickly” to the outcome of the vote, which is expected to take place between 7 pm and 9 pm GMT. “The prime minister said the government is the servant of the people and she believes passionately that we must deliver on the result of the 2016 referendum,” a spokesman for the prime minister said in remarks quoted byReuters. “She added that after the vote has taken place, she would respond quickly to the result.” Neither Brexit nor corporate earnings season is expected to have muchdirectimpact on the cryptocurrency markets, though some analysts including eToro’s Mati Greenspan maintain that bitcoin and its peers are moreconnectedto other asset classes than many investors realize. In any case, the crypto market saw a moderate recovery on Monday. Thebitcoin price, which had on Sunday slipped below the so-called “GTFO” level of $3,500, popped above the $3,700 mark on Bitstamp and other cryptocurrency exchanges, though it has since ebbed to $3,647 as of the time of writing. Theethereum price, meanwhile, is up 8 percent on the day, owing to optimism over the Jan. 16 Constantinople hard fork. The fork, which will activate at block 7080000, will introduce a number of upgrades into the Ethereum protocol, which developers say will better prepare it to scale to the requirements of future mainstream adoption. Equally as important is that Constantinople will reduce the ethereum inflation rate by 33 percent, as the cryptocurrency’s block reward will decline to 2 ETH per block from 3 ETH. This should reduce selling pressure from miners. Importantly, this hard fork, unlike the recent one which roiledBitcoin Cash, is not expected to splinter the Ethereum network into multiple competing versions — and cryptocurrencies. While a group of disgruntled users could always refuse to migrate to the new protocol version, miners, exchanges, and other infrastructure providers have committed to supporting the network upgrade. Nevertheless, traders will be closely watching the hard fork’s activation, as unforeseen bugs and other disruptions could lead to significant price volatility in the short-term. Featured Image from Shutterstock. Price Charts fromTradingView. The postDow Dips, Bitcoin Clings to Gains as Tuesday Promises Volatilityappeared first onCCN. || Bitcoin – The Bears Surface for the Holidays: Bitcoin gained 1.67% on Monday, following on from last week’s 23.4% gain, to end the day at $4,140.7. For the Bitcoin bulls, the all-important positive start to the week was delivered, with Bitcoin having wrapped up a positive start to the week for only the 2 nd time since 15 th October, supporting a positive outlook for the week ahead. It’s been a particularly dire year for Bitcoin and the broader market, but last week’s 23.4% gain and another week-long rally would certainly ease the pain, with Bitcoin down 69.9% to Monday’s close. The broad based crypto rally on Monday saw Bitcoin’s dominance fall further on the day to 51.2%, down from the previous day’s 52%, the downward trend continuing to signal positive sentiment across the broader market. Supporting the broad based crypto rally has been a lack of negative news across the crypto wires, the bulls enjoying a free end of year run, with the next major key driver expected to come in the SEC’s decision on the Bitcoin ETF applications in February. Bitcoin looks set to end another year at the top of the rankings by market cap, with Ripple’s XRP sitting a distant second, though whether the rankings will be the same this time next year remains to be seen. A material shift in the regulatory landscape is expected in the summer of next year, which should deliver some adjustments to investor sentiment across the broader market, with product differentiation likely to become a factor. For the Bitcoin bulls, the number one ranking will be in the hands of the SEC, another decline of the ETF applications likely to drive investor appetite elsewhere, with the likes of Ripple’s XRP ripe for rebound, supported by a strong product that has already delivered success in the real world. Get Into Cryptocurrency Trading Today At the time of writing, Bitcoin was down 5.09% to $3,929.9, a start of a day sell-off seeing Bitcoin fall through the first major support level at $4,011.8 to a morning low $3,909.6 before steadying. Story continues While there were no immediately identifiable causes for the turn of the day sell-off, a number of news releases could well have contributed, reports of Bitmain shutting shop and fresh allegations of fraudulent activity, uncovered by Bitcoin Private’s development team, more bad news as the market awaits the U.S DoJ’s investigation into possible price manipulation during Bitcoin’s record breaking rally of last year. For the day ahead, a move back through to $4,000 levels and the first major support level at $4,011.8 would be key to supporting a 2 nd half of a day rebound, while Bitcoin would need to move through to $4,100 levels to bring $4,200 levels into play, the day’s first major resistance level at $4,326.8 unlikely to be in play on the day. Failure to move back through to $4,000 levels by the early afternoon could see Bitcoin take a bigger hit later in the day, a pullback through the morning low $3,909.6 bringing the second major support level at $3,882.9 into play before any recovery, heavier losses unlikely on the day. With Bitcoin back to sub-$4,000 levels in a flash, investors will have been reminded of just how influential the news wires can be, the recent gains coming at a time when the news wires had been particularly quiet, giving Bitcoin and the broader market benign conditions to recoup some of the year’s losses. {alt} This article was originally posted on FX Empire More From FXEMPIRE: GBP/JPY Price Forecast – British pound continues to struggle AUD/USD Forex Technical Analysis – Approaching Main Bottoms at .7020 and .6973, In Window of Time for Reversal Bottom GBP/USD Price Forecast – British pound slightly higher during holiday trading S&P 500 Price Forecast – stock markets continue to break down Markets Muted as Holiday Mood Kicks in USD/JPY Price Forecast – US dollar continues to drift lower || Scotland: Man Jailed after Using Bitcoin to Buy Handgun on Dark Web: A middle-aged Scottish man has been sentenced to five years in prison for using bitcoin to purchase illegal firearms on the dark web. According to local police, David Mitchell, a 48-year-old from Edinburgh paid for a 9mm handgun, magazine, 150 rounds worth of ammunition, and a suppressor from the United States using about $2,750 worth ofbitcoin(roughly 0.74 BTC at press time). Bloombergreports that Mitchell purchased the illegal firearm on the dark web and attempted to ship it from the United States into Scotland, but the package was intercepted by the newly formed Organized Crime Partnership. A placebo was instead shipped in its place to Mitchell’s office by officers who then surveilled and trailed him to his house where he lives alone. Subsequently, police officers stormed the house with a search warrant and found the placebo hidden under a couch; he was then arrested and charged with illegal possession of firearms. He appeared in court on December 5, 2018, where he pleaded guilty to 3 counts of firearm possession. On January 14, he was sentenced to five years in prison. In the court hearing, defense lawyer QC John Scott told the court that while Mitchell has a history of depression and other behavioral problems, he had absolutely no plans to use the firearm to hurt anybody. According to the defense, he only carried out the transaction to see if it could be done. The defense also submitted that Mitchell had no prior convictions and had been described as “very reliable and of great value” by his employer. In response, however, Detective Chief Superintendent Gerry McLean, head of the organised crime and counter-terrorism unit of Scotland’s police, said that Mitchell did not offer any reason for purchasing the firearm, and hence they could not determine if he had any ulterior motives. He also reiterated that the priority of the police is the security of the citizens, so stopping Mitchell meant averting a potential problem. In his ruling, Judge Lord Pentland said: You claim that you had no intention of causing harm to anyone but the fact remains that you went to considerable lengths to get hold of a potentially lethal weapon and ammunition. You must have appreciated that this was unlawful. For this conduct you must be punished. Mitchell’s conviction marks the latest in a series of similar cases involving the use of bitcoin and other cryptocurrency assets to carry out illicit activities on the dark web. The most famous example of such a conviction remains that of Ross Ulbricht, founder of the dark web marketplace Silk Road. Earlier in the month, CCNreportedthat Ulbricht penned a letter to bitcoin cash evangelist and early crypto adopter Roger Ver seeking his help in getting clemency from the double life sentence he is currently serving. Images from Shutterstock The postScotland: Man Jailed after Using Bitcoin to Buy Handgun on Dark Webappeared first onCCN. || Crypto Wallet Sales Still Going Strong, Says Ledger President: The market for cryptocurrency has seen better times as Bitcoin struggles to stay above $4,000 and crypto hedge funds shut up shop. But one corner of the market seems to be weathering the downturn just fine: Ledger, which makes crypto hardware wallets, says sales are just fine. “I’m happy to report Black Friday ’18 was almost on par with Black Friday ’17,” Pascal Gauthier, President of hardware maker Ledger, told Jen Wieczner when he dropped by our Balancing the Ledger studio this week. While Black Friday sales may not reflect the health of the wallet market, let alone that of the larger crypto industry, Gauthier’s anecdote does come as a rare bit of encouraging news. Gauthier attributes the ongoing interest in hardware wallets (which he describes in the video above) to big institutions entering the crypto market. Unlike the run-and-gun attitudes that prevailed during last year’s crypto mania, Gauthier says these companies treat security as a paramount priority, and added that new crypto projects are laser-focused on security as well. In a crypto environment where hacks and heists are still common, people see hardware wallets as especially secure because they are a way to store funds on a physical device rather than online. (They do, however, give rise to risks of kidnapping—read about this caper involving a dumb crypto crook and a Ruby Tuesdays). Gauthier added that Ledger’s customers also include law enforcement agencies, which are increasingly confiscating crypto funds from criminals. Hardware wallets like Ledger’s flagship Nano S provide a way for these agencies to hold the funds. While Ledger’s customer base consists of individual crypto holders, the company also sells directly to businesses through Ledger Vault, its new B2B unit. Gauthier also said the company is exploring ways to offer its distinct security features in other areas, including the emerging Internet-of-Things economy. Asked to describe the mood during the current bear market, Gauthier acknowledged people are discouraged but also took a long view. “The mood always follows the price,” he said. “People sometimes forget these all new technologies are very new. You shouldn’t ask too much from new technologies.” [Random Sample of Social Media Buzz (last 60 days)] 1 Bitcoin ( #BTC ) Dollar: 4177.00$ 1 Bitcoin Cash ( #BCH ) Dollar: 1,74.75$ 1 Ethereum ( #ETH ) Dollar: 114.61$ 1 Ripple ( #XRP ) Dollar: 0.37172$ Date: 29 Nov 2018 22:21 #Bitcoin #Ethereum #cryptocurrency #crypto #altcoin #Blockchain #Ripple || スペシャルエディットCD素晴らしすぎる〜｡ﾟ(ﾟ´ω`ﾟ)ﾟ｡突然現れた風雲児のようなOvertureも好きだし、Super Tastyからピキラの繋ぎテンション上がるし、BTCもドゥーン×4だし、藤北玉ソロ前のInter大好きすぎるし、赤い果実前のサントラも良きで、エイベックストラッッックス！！って叫びたくなる || #StarTrekDiscovery #bbcqt #ArtASongOrBand #NewAdviceFromTheFDA #TheOrvill #crypto #influencermarketing #womenshistorymonth #blackhistorymonth #cryptocurrency #bitcoin #internationalwomensday #cryptocurrencies #WednesdayWisdom fhdgfb https://dribbble.com/shots/5775867-Lotto-Landing-Page?utm_source=Twitter_Shot&utm_campaign=rahman_designer&utm_content=Lotto-Landing%20Page&utm_medium=Social_Share … || Would it affect the #BTC price after that tomorrow? || 1 Bitcoin ( #BTC ) Dollar: 4003.00$ 1 Bitcoin Cash ( #BCH ) Dollar: 1,83.30$ 1 Ethereum ( #ETH ) Dollar: 114.22$ 1 Ripple ( #XRP ) Dollar: 0.37186$ Date: 28 Nov 2018 8:15 #Bitcoin #Ethereum #cryptocurrency #crypto #altcoin #Blockchain #Ripple || Did Bitcoin Cash Fail? 500 Days Since the Fork, it Looks Like it Did http://dlvr.it/Qx397p pic.twitter.com/H1PGBF1g0q || Bitcoin (BTC) Sellers Lost $1.7 Billion in Bear Market - Ethereum World News http://j.mp/2VZl1wX  || We did not fork away from Bitcoin bch did so that's where we are actually very excited that they're finally gone and they will no longer be destroying Bitcoin || 1 BTC = 15137.97999000 BRL em 03/12/2018 ás 16:00:02. #bitcoin #bitcoinbr #bitcoinexchangebr || Our Satoshi’s pizza shirt may seem like just a silly shirt about everyones favorite food, but the story that inspired the shirt is quite a fascinating chapter of bitcoin history. https://www.finder.com.au/bitcoin-pizza-guy-i-regret-nothing-also-satoshi-was-a-weirdo …pic.twitter.com/63LTn2L1yQ
Trend: down || Prices: 3601.01, 3576.03, 3604.58, 3585.12, 3600.87, 3599.77, 3602.46, 3583.97, 3470.45, 3448.12
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 2022-01-04] BTC Price: 45897.57, BTC RSI: 38.79 Gold Price: 1814.00, Gold RSI: 54.44 Oil Price: 76.99, Oil RSI: 58.28 [Random Sample of News (last 60 days)] The Power Play by The Market Herald Releases a new interview with LUXXFOLIO: VANCOUVER, BC / ACCESSWIRE / December 3, 2021 / The Power Play by The Market Herald has announced the release of a new interview with LUXXFOLIO discussing their latest press releases. The Power Play by The Market Herald provides investors with a quick snapshot of what they need to know about the company's latest press release through exclusive insights and interviews with company executives. LUXXFOLIO Holdings (CSE:LUXX) provides operational update LUXXFOLIO Holdings' have released their November updates which include record mining revenues of approximately $1.8 million and monthly rewards of 23.5 Bitcoin. Dean Linden, CEO of LUXXFOLIO sat down with Caroline Egan to highlight the updates. LUXXFOLIO Holdings is a digital asset company operating an industrial-scale cryptocurrency mining facility in the US. For the full interview with Dean Linden and to learn more about LUXXFOLIO's November updates, click here. Interviews for The Power Play by The Market Herald are released daily. To learn more about the companies featured in The Power Play or to explore our other interviews visit The Power Play by The Market Herald. About The Market Herald The Market Herald Canada is the leading source of authoritative breaking stock market news for self-directed investors. Our team of Canadian markets reporters, editors and technologists covers the entire listed company universe in Canada. We cover over 3,985 businesses, their people, their investors, and their customers. We write the stories that move the Canadian capital markets. DISCLAIMER: Report Card Canada Media Ltd. ("Report Card") is a wholly-owned subsidiary of Market Herald Limited, an Australian company ("Market Herald"). 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Please be sure to check the Privacy Policies of these sites as well as their "Terms of Service" before engaging in any business or uploading any information. Story continues CONTACT: The Market Herald Brianna Anthony [email protected] themarketherald.ca SOURCE: The Market Herald View source version on accesswire.com: https://www.accesswire.com/676046/The-Power-Play-by-The-Market-Herald-Releases-a-new-interview-with-LUXXFOLIO || UK “falling behind in crypto” ahead of biggest capital event of 2022: “The UK is falling behind” lamented Peter McCormack to the CEO of BCB Bank during his visit to the London Digital Assets Summit. “We are really behind the US here”, McCormack began during his discussion of the state of crypto adoption in Britain. He stressed the non-federalised UK political structure was holding back the winds of regulatory change, despite the emergence of an impressive institutional interest in digital assets across London. Oliver von Landsberg-Sadie, the CEO of BCB Bank – an emerging challenger bank targeted at cryptocurrency users – sought to explain what has been taking British banks so long to adapt to the rise of decentralised finance and cryptocurrency adoption. The origins of change, he suggested, were to be found in numerous informal blockchain research groups – formed among analysts and bankers to advocate a way forward. But the CEO maintained it would be five to 10 years before any meaningful outcomes would be seen in the City of London. This puts the time-frame roughly in line with the conservative approach of the Rishi Sunak’s Treasury and the highly-anticipated ‘ Britcoin ‘ CBDC, which McCormack branded “misleading”. He argued that the rapid rise of Bitcoin (BTC) capital accumulation could be tied to widespread hedging of inflation in the USD, and the BCB CEO agreed before suggesting future UK inflation hikes could drive a surge in crypto capital accumulation efforts among city banks. 2022 a key year for crypto As with many at the summit it seems that there are big expectations for 2022 with many expecting to see a significant year of regulator decisions and capital outflows, fuelled by a potential collapse of the current bull trend and mounting inflation driving hedging activity. 2022 will see the “biggest capital event… taking the super juicy returns, and bringing them over to the fiat world,” explained Landsberg-Sadie as he suggested that successfully-hedged capital will outflow back into TradFi asset classes as the economy recovers. Story continues Brexit has played a fundamental role in curtailing potential opportunities in the crypto space, as financial regulators are substantially preoccupied ‘re-regulating’ the city financial environment – such as the creation of mirror licencing regimes – and have not yet addressed their fears and uncertainty around the industry. But both men remain optimistic. The BCB CEO insisted that “it’s still early days, it’s not too late, we’re at the foot of the foot of the wholesale transition from an analogue financial system to a code-layered financial system”. As the conversation closed, von Landsberg-Sadie urged for a focus on the macro-picture, while McCormack added “Bitcoin always looks expensive”. || The 7 Best Robinhood Stocks to Buy for December: One of the most remarkable developments that sprouted during the onset of the novel coronavirus pandemic was how quickly longstanding paradigms changed. Prior to the global health crisis, financial analysts warned young people that they weren’t investing in equities. However, the popularity of Robinhood (NASDAQ: HOOD ) led to the phenomenon of so-called Robinhood stocks to buy. It turns out, young people were not much different from older generations. Millennials and Generation Z cared plenty about wealth generation. Apparently, they just needed a little gamification to inspire them. Of course, Robinhood is a master of emotional encouragement (some might call it manipulation), stroking egos and transaction orders. However, the arguments underlying Robinhood stocks aren’t as crazy as you might initially believe. Indeed, the top 50 opportunities listed on the StonksNews website feature a wide variety of ideas. Yes, you do have your speculative plays like Sundial Growers (NASDAQ: SNDL ). At time of writing, SNDL was at the top of the order. However, among these popular Robinhood stocks, you have companies like Microsoft (NASDAQ: MSFT ), which this crowd might consider geriatric. Nevertheless, it features highly, suggesting a method to the madness. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Honestly, you might want to reconsider how you label those who follow social media guidance regarding Robinhood stocks to buy. A vast majority of these ideas I can see myself supporting irrespective of market circumstances. For instance, Coca-Cola (NYSE: KO ), which is listed at No. 48, is an excellent consumer staples idea that’s appropriate for almost any investor. 7 Stocks to Buy to Build Your Own 'Elon Musk' Portfolio With the final month of the year coming up, many investors will undoubtedly look to reposition their portfolio for 2022 and beyond. In that vein, here are my thoughts on the best Robinhood stocks to buy for December. Story continues Ford (NYSE: F ) Walmart (NYSE: WMT ) Meta Platforms (NASDAQ: FB ) AMC (NYSE: AMC ) Plug Power (NASDAQ: PLUG ) Uber (NYSE: UBER ) Peloton (NASDAQ: PTON ) While I believe that followers of popular Robinhood stocks deserve more credit than they usually receive from mainstream media coverage, it’s also important to independently perform your due diligence. Before making your final decision on any stock, make sure it fits with your strategy and risk-reward profile. Robinhood Stocks: Ford (F) Ford (F Stock) logo on a steering wheel. Source: Proxima Studio / Shutterstock.com Typically, I don’t like to put publicly traded securities that I own top of any lists of opportunities to consider. However, with American automaker Ford, I’ll make an exception. The social media crowd love the company, making it one of the most popular Robinhood stocks to buy. And I’m particularly proud of this idea because I asked readers to assess it and I put my money where my mouth is. Believe me, that’s saying a lot because personally, I’m not a big fan of American cars. However, when I saw that Ford was developing the Mustang Mach-E , an electric vehicle crossover , I had a strong feeling that F stock was going to be a winner. So far, I’ve been proven correct, with Ford posting a year-to-date performance of almost 128% heading into the final weekend before Thanksgiving. Primarily, the Mach-E provides a much-needed alternative to the EVs that Tesla (NASDAQ: TSLA ) has been pumping out. No offense to any TSLA fans but the company’s vehicles tend to look the same. Certainly, automotive consumers — especially of more premium vehicles — want to stand out and Ford gives them that opportunity. That F also happens to attract a big crowd among fans of Robinhood stocks is icing on the cake. Walmart (WMT) Walmart (WMT) logo on a store front Source: Ken Wolter / Shutterstock.com Although an always relevant name among Robinhood stocks, Walmart is a tricky one at this juncture. As the king of big-box retailers, I think you have to respect WMT, no matter what circumstance it finds itself in. Further, Walmart benefits from fortuitous timing. As I mentioned in my interview with CGTN America , the yearlong lockdown and social mitigation measures have given American consumers cabin fever . And we’re not unique in this regard. Plenty of people are sick and tired of the pandemic and associated mandates, such as social distancing. Therefore, people are ready to go out and reclaim their normal lives, which includes mundane things like shopping at Walmart. But like I said, WMT is one of the toughest Robinhood stocks to navigate because so much retail originates from China. Here’s a source that estimates 70% to 80% of Walmart’s merchandise come from Chinese suppliers . Further, President Biden is apparently considering a diplomatic boycott of the 2022 Beijing Olympics. That’s going to be problematic, considering that he made some headway with his recent virtual summit with Chinese President Xi Jinping. 7 Energy Stocks to Buy to Ride the Rally in Commodities Still, the bottom line may be that American consumers are sitting on $2.7 trillion in crisis savings . That’s a huge plus for WMT. Robinhood Stocks: Meta Platforms (FB) Meta logo is shown on a device screen. Meta is the new corporate name of Facebook. Source: Blue Planet Studio / Shutterstock.com Another interesting idea among Robinhood stocks to buy is Meta Platforms. Formerly known as Facebook, Meta Platforms rebranded itself in late October of this year to reflect CEO Mark Zuckerberg’s long-term ambitions . According to The Verge , the “rebrand is about solidifying the social media giant as being about the metaverse , which Zuckerberg sees as the future of the internet.” Now, many folks debate what the metaverse means. The Verge describes it as “an expansive, immersive vision of the internet taken from the pages of sci-fi novels like Snow Crash and Ready Player One .” For those that haven’t seen these films, imagine the internet as a global community connected through information. But note that this information requires a device-based intermediary: a computer or mobile device. Basically, the metaverse is the next step in the internet revolution where you become your own intermediary. Of course, we’re not quite there yet but through platforms like virtual and augmented reality, the user can get closer and closer to becoming personally integrated with the internet. Honestly, I find the concept a little kooky but so many are eating this stuff up. Therefore, FB is worth a look. AMC (AMC) People wearing masks walking past an AMC theater. Source: rblfmr/Shutterstock.com One of the original meme trades that catapulted the concept of Robinhood stocks to the forefront, AMC Entertainment is perhaps the very definition of fortuitous, as the company was struggling since the middle of the last decade and that’s no longer the case. With streaming platforms dominating, along with plentiful at-home entertainment options like video games, the box office was losing ground with young adult audiences. Then, the coronavirus struck and you’d be forgiven to think it was lights out for the company. Due to government restrictions on non-essential activities, there was nothing that management could do except hope for the best. Well, there was another approach: pray to the meme gods. Out of nowhere, AMC stock skyrocketed from the early 2021 doldrums, in no small part to meme traders who wanted revenge against bearish hedge funds — the same hedge funds that they perceived as destroying their parents’ lives during the Great Recession. 7 Alternative Cryptos to Watch as Bitcoin Tests the $55,000 Level Another intriguing tidbit: since early August, AMC has generally charted a series of higher lows. Now, if the meme traders can convince management to pay their general managers , that’d be something! Robinhood Stocks: Plug Power (PLUG) Image of a man driving a forklift in a warehouse. Source: Halfpoint/ShutterStock.com A company with a relatively long history, most of the narrative behind Plug Power has been one of aspirations denied. Back during the crazy dot-com bubble, PLUG stock briefly commanded a share price in four-digit territory. But obviously, that lofty status evaporated, with the underlying company struggling to forward its hydrogen fuel-cell technology. Then, during the midst of the great investment shift — brought largely by the wave of worker bees operating remotely along with those ever helpful stimulus checks — PLUG became one of the heavily hyped Robinhood stocks. By late January of this year, shares closed up above $70, a multi-decade record. Still, like prior plug rallies, this one eventually faded. Not to put readers through another rollercoaster ride but PLUG again ranks among the most popular Robinhood stocks. Per a Barron’s report, “Plug Power, which makes hydrogen fuel cell powered fork lifts, plans to make hydrogen-powered heavy-duty trucks while manufacturing and distributing the hydrogen gas required for its transportation products.” Personally, I’m leery of these emotionally driven speculative names but PLUG might be good for a sizable December pop for short-term traders. Uber (UBER) The Uber (UBER) logo is displayed on a smartphone on top of a map background. Source: Proxima Studio / Shutterstock.com On StonksNews’ top 50 list of Robinhood stocks to buy, ride-sharing giant Uber was the caboose at time of writing. Therefore, it’s quite possible that by the time you read this, it could have dropped out of the top 50. Nevertheless, even if it experiences a bout of volatility, it might not fall that far. Primarily, bullish investors can take heart that ride sharing has become a much more ingrained practice in American society. According to a 2019 Pew Research Center report, ride-sharing services were mostly popular among young people, as you would expect. However, the 50-years-plus demographic experienced the greatest percentage growth in terms of survey respondents who hailed a ride-sharing service at least once. Logically, the narrative took a hit because of the coronavirus pandemic. But as we have become acclimated to the crisis, UBER might make a comeback. It’s risky but since the spring doldrums of 2020, shares have printed a series of higher lows. This suggests, though it’s not guaranteed, that UBER could swing higher. 7 Hot Penny Stocks to Buy for December That Are Positioned to Pop As well, the company’s Uber Eats division could enjoy more demand, especially as consumers are sitting on that aforementioned $2.7 trillion worth of pandemic savings. Robinhood Stocks: Peloton (PTON) Peloton (PTON stock) sign on city storefront Source: JHVEPhoto / Shutterstock.com Arguably one of the riskiest Robinhood stocks available, I was surprised to see Peloton ranked so highly on StonksNews’ list at No. 8. As you know, Peloton was one of the top pandemic winners as its home fitness bike fit perfectly into the quarantine lifestyle. Indeed, you could have made a case that Peloton was a healthcare-related investment. According to Harvard Health Publishing, “ 39% of patients gained weight during the pandemic , with weight gain defined as above the normal fluctuation of 2.5 pounds. Approximately 27% gained less than 12.5 pounds and about 10% gained more than 12.5 pounds, with 2% gaining over 27.5 pounds.” For those that didn’t gain weight — or better yet, lost it — they might have burned away the calories on their Peloton bikes. However, as the New York Times pointed out, shares of pandemic darlings have tumbled as the health threat faded. With people largely resuming their normal activities, does PTON have a future? According to Peloton CEO John Foley, the company’s belief that fitness will move to the home remains unchanged. He might be onto something, considering that the work-from-home initiative might not be permanent. If so, people will look to other means to recapture time, including canceling their gym membership in favor of home fitness. On the date of publication, Josh Enomoto held a LONG position in F and AMC. 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 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 The 7 Best Robinhood Stocks to Buy for December appeared first on InvestorPlace . || The top 5 wildest crypto moments of 2021: Getty Images To say 2021 was a crazy year for cryptocurrencies is an understatement. Insider takes a look back at the five wildest crypto moments. They include El Salvador making bitcoin legal tender and an NFT selling for $69 million. Sign up here for our daily newsletter, 10 Things Before the Opening Bell To say 2021 was a crazy year for cryptocurrencies is an understatement. Bitcoin soared to new highs but also achieved full legitimacy in one country. Meanwhile, meme tokens like shiba inu and dogecoin went from being jokes to delivering mind-blowing gains. The number of cryptos ballooned to more than 16,000, and the overall market cap hit $3 trillion at one point. In other parts of the space, a non-fungible token stunned the art world when it fetched a staggering $69 million to become the most expensive work of digital art in history. Insider takes a look back at the top five wildest crypto moments in 2021: El Salvador made bitcoin legal tender No one thought it would happen -- until it did. Nayib Bukele, El Salvador's 40-year-old president, first floated the idea of making bitcoin legal tender in June during the Bitcoin 2021 Conference in Miami. He said he hoped introducing bitcoin would be the catalyst for El Salvador's shift from being a developing country to becoming an industrialized, advanced nation. Just days after, a resolution dubbed Bitcoin Law was approved in June by a supermajority . Then, in September, El Salvador became the first country in the world to make bitcoin legal tender, elevating it to the same status as the US dollar, which replaced the colon in 2001 as the local currency. Dogecoin cracked the top 10 biggest cryptos Dogecoin started as a joke in 2013. But today, the joke is on all investors who doubted the meme token. The shiba-inu-themed coin muscled its way to the top 10 cryptos by market cap in 2021, thanks in part to random boosts from staunch advocates such as Elon Musk . The coin's transformation has been astonishing. At present, dogecoin is the most searched crypto on Google and can even be used to buy certain things, including some Tesla merchandise and an AMC gift card . Story continues Shiba inu surpassed dogecoin Riding on the back of dogecoin's popularity is a spin-off that achieved even more dizzying heights. Shiba inu, the self-proclaimed dogecoin killer, vaulted out of nowhere and at one point surpassed dogecoin's market cap to join the top 10 . It's now $18 billion, trailing dogecoin's $23 billion. Shiba inu , created in August 2020, saw an astronomical rally thanks in large part to its Shib Army, an overenthusiastic group of investors backing the token. In fact, shiba inu's price rocketed 44,540,000% this year, while dogecoin surged about 3,600%. An NFT sold for $69 million In March, artist Mike Winkelmann, better known as Beeple, sold the most expensive work of digital art in history. His " Everydays: The First 5,000 Days " NFT, which comprises 5,000 days of work, fetched a whopping $69.3 million at auction. He told Insider he did not really think much of it; he just kept producing art. The mania behind this staggering purchase is emblematic of the surge in popularity of NFTs, digital representations of artwork tied to a blockchain, typically on ethereum. When people buy NFTs, they gain the rights to the unique token on the blockchain, making these next to impossible to alter. A bunch of randos almost bought the Constitution A decentralized autonomous organization -- essentially a group of internet friends with a common goal -- raised around $46 million in November to buy an extremely rare print of the US Constitution. It may have sounded absurd, but the DAO actually came close to winning the Sotheby's auction until Citadel CEO Ken Griffin dashed their hopes and bought it for himself. ConstitutionDAO , the loosely organized group of around 17,000 people , still made headlines for the attempt. And while the DAO disbanded after losing the bid , it did lay bare the power of decentralization. Read the original article on Business Insider || Bitcoin Investors Protect Against Even Lower Prices Ahead of New Year: Purchases of put options on bitcoin increased as the world’s largest cryptocurrency by market capitalization fell under the $46,000 level during Asian trading hours on Thursday. Bitcoin failed to break the $51,000 resistance level earlier this week, implying more sellers than buyers in current market conditions. Tuesday and Wednesday saw upward of a combined $1.76 billion in options volume on crypto exchangestrackedby Glassnode. That’s not typical, as data from Glassnode shows most option volumes on crypto exchanges are generated on Friday, ahead of low-volume weekends. Nearly $1.7 billion in volume came from options powerhouse Deribit alone, and more than 46,000 puts were purchased for Dec. 31, the firm noted in atweet. Options are hedging instruments that give the purchaser the right but not the obligation to buy the underlying asset at a predetermined price on or before a specific date. Puts allow investors to make profits on falling prices, while buying calls allows profits on an upward move. The large put purchases on Tuesday and Wednesday came ahead of a $6 billion optionsexpiry. A total of 129,800 options contracts are set to expire on Friday, according to data provided by analytics tool Skew. Option expiries are usually marked with market volatility ahead of their expiry date, as investors hedge their positions with spot or futures purchases, leading to a change in market dynamics. Data suggests that bitcointends to movetoward the “max pain” point in the lead-up to expiration and sees a strong directional move in days after settlement. Those in financial circles refer to max pain as the point where option purchases stand to lose the most money. Crypto research fundsnotedthe current max pain point for bitcoin is $48,000 – a level the asset breached on Tuesday. Bitcoin traded at about $46,926 at the time of writing, dropping over $3,500 after reaching a resistance level of $51,000 on Monday. The $46,500 level has acted as support in December. The next support level is at the $43,500 mark should bitcoin fail to hold current levels. || Stocks rally, led by growth names, dollar eases: By Herbert Lash NEW YORK (Reuters) - Global equity markets rallied on Friday, with European shares hitting new highs on strong earnings, while the dollar eased but posted its biggest weekly gain since late August. Gold rose to notch its best week in six months and extend a winning streak to seven sessions. The advance has been spurred by surging U.S. consumer prices that bolstered the metal's appeal as an inflation hedge and rattled bond investors. The 6.2% year-over-year rise in inflation in October, the biggest jump since November 1990, upended the U.S. Treasury market as traders mulled whether the Federal Reserve will be forced to raise interest rates sooner rather than later. [US/] Crude oil futures closed the week with a third consecutive weekly fall after sharp swings driven by the dollar's recent strengthening. On Wall Street, mega-cap stocks Microsoft Corp, Apple Inc, Meta Platforms Inc, formerly known as Facebook; Amazon.com Inc and Google parent Alphabet Inc led stocks higher. A case can be made that big tech stocks will react better to rising rates than cyclicals, said Tim Ghriskey, senior portfolio strategist at Ingalls & Snyder in New York. "There's a feeling from the users and purchasers of tech that they can't be left behind, that they always need to be on the cutting edge," he said. "That means they have more consistent and steadier growth regardless of the economic environment." MSCI's all-country world index closed up 0.64%, while the broad STOXX Europe 600 index rose 0.30% to a record closing high. France's CAC40 index and Germany's DAX index also ended at record closing highs. On Wall Street, the Dow Jones Industrial Average rose 0.50%, the S&P 500 added 0.72% and the Nasdaq Composite advanced 1.00%. Growth stocks rose 1.15%, outperforming a 0.20% gain in value stocks. "This is a growthy market," Ghriskey said. Norihiro Fujito, chief investment strategist at Mitsubishi UFJ Morgan Stanley Securities, said inflation was a risk to watch, but it was still in the future. "Stock prices will face a major crash only if the Federal Reserve turns out to be completely wrong in its assessment and is forced to raise interest rates rapidly. That's not where we are now," Fujito said. In Europe, euro zone money markets priced in two full European Central Bank rate hikes by the end of next year. A Reuters poll showed the Bank of England is expected to be the first major central bank to raise rates, probably next month. Tesla Inc Chief Executive Elon Musk sold more shares of the electric carmaker, regulatory filings showed on Friday. Tesla shares fell 2.8%, the biggest decliner on the Nasdaq 100. The dollar index, which tracks the greenback versus a basket of six currencies, slid 0.046% to 95.117. The euro eased 0.08% to $1.1441, while the yen edged lower 0.14% to $113.8900. Too many hedge funds expected the Fed and other central banks to quickly turn hawkish as inflation rises and have been forced to cover their short positions in bonds, said Thomas Hayes, chairman and managing member at Great Hill Capital LLC. "Fund managers were the least overweight bonds that they've ever been in the history of the data going back over two decades," Hayes said. "The volatility that you saw on and off in the last week or so was attributable to wrong-footedness in the bond market by a lot of hedge funds." The yield on 10-year U.S. Treasury notes rose 2.0 basis points to 1.5784%. German 10-year yields slid 0.7 basis point to -0.262%. "Directionally, the line of least resistance is for lower bond prices and higher yields, and the stock market does not seem to care that much," said Mike Hewson, chief markets analyst at CMC Markets. (Graphic: Global fund flows into equity sectors: https://fingfx.thomsonreuters.com/gfx/mkt/zjvqkwnlevx/Global%20fund%20flows%20into%20equity%20sectors.jpg) Crude prices were hit by a firmer dollar and speculation the Biden administration might release oil from the U.S. Strategic Petroleum Reserve to cool rising prices. Brent crude settled down $0.70 at $82.17 a barrel. U.S. crude fell $0.80 to settle at $80.79 a barrel. U.S. gold futures settled up 0.3% at $1,868.5 an ounce, adding to a gain of about 2.7% for the week. Bitcoin fell 0.92% to $64,227.17. (Reporting by Herbert Lash, additional reporting by Huw Jones in London, Hideyuki Sano and Dhara Ranasinghe; Editing by Mark Potter, Dan Grebler, Cynthia Osterman and Jonathan Oatis) || Marathon Digital Beats Q3 Earnings Estimate, but Misses on Revenue: Marathon Digital’s (MARA) third-quarter “non-GAAP net income” of $0.85 per share beat analysts’ average estimate of $0.43, while its revenue of $51.7 million missed the estimate of $67.4 million, according to FactSet. The company’s third-quarter revenue rose over 6,000% year-over-year , according to a statement. Marathon mined 1,252 bitcoin in the third quarter, which was a 91% increase from the previous quarter. At the end of the quarter, it held 7,035 bitcoin with a fair-market value of $307.6 million. The miner expects its previously purchased 130,000 mining machines to come online between now and the middle of 2022. Marathon noted that global supply-chain issues are affecting the crypto mining industry, and the company recently started chartering planes to expedite the delivery of its mining computers. The shares of the bitcoin miner were down about 1.5% in early trading Wednesday, after initially rising about 4% following the release of the results. They are up more than 600% so far this year. Non-GAAP (generally accepted accounting principles) income excludes the impact of depreciation and amortization of fixed assets, impairment losses on mined cryptocurrency, server maintenance contract amortization and stock compensation expense. The metric includes the change in fair value of the Marathon Digital’s investment fund, which purchased 4,812.66 BTC for about $150 million in January. || Twitter’s New CEO Agrawal Got Early Nod From Dorsey a Year Ago: (Bloomberg) -- When Elliott Management Corp. started pushing for changes at Twitter Inc. in February 2020, one of its stipulations was that the company update its CEO succession plan—the activist investor didn’t like that Jack Dorsey had two full-time jobs, and wanted a strategy in place for when he eventually stepped down from the social network. Most Read from Bloomberg Zero Taxes, Golf and Beach Houses Create a Crypto Island Paradise Anatomy of a Bad Road Boris Johnson’s Furious MPs Worry That His Next Misstep Could Be Fatal China Is Building the World’s Largest National Park System The 15 Best Beers We Drank This Year On the night before the U.S. presidential election that November, more than a year ago, Twitter’s board issued a statement saying that the plan for a potential leadership shift had been approved. What the board didn’t say was that at the top of the list of internal candidates to succeed Dorsey, according to two people familiar with the matter, was Chief Technology Officer Parag Agrawal. While Dorsey’s decision to step down as chief executive officer last week caught investors and employees by surprise, the framework for his departure—including identifying his designated replacement—had been in place for more than a year. The plan’s early iterations didn’t guarantee Agrawal the top job, and Twitter’s board briefly considered a handful of external candidates for the role, said the people, who asked not to be named because the discussions were private. But Agrawal was Dorsey’s top choice for the job, and he was the only candidate—internal or external—seriously considered when the time came to fill Dorsey’s role, people familiar said. “He’s been my choice for some time given how deeply he understands the company and its needs,” Dorsey wrote in an email to employees. Agrawal’s official promotion to CEO elevated a previously little-known technologist, whose mandate included overseeing Twitter’s infrastructure, blockchain and crypto initiatives, to one of the highest-profile gigs in the industry. The move, which has already led to a restructuring among Twitter’s senior leadership, followed Elliott’s late 2019 acquisition of a stake in the company and a subsequent public campaign to pressure Dorsey to improve his company’s business by stepping up growth and building products faster.In March 2020, Elliott and Twitter came to an agreement that left Dorsey in his job, but required a number of changes to the board, lofty new business goals, and the succession plan that eventually identified Dorsey’s successor. Eight months later, in November 2020, the board approved of Twitter’s management structure following a review, keeping Dorsey in control. Story continues Yet less than a year later, in October 2021, Dorsey alerted the company’s directors and some of its top staff of his plans to resign, according to a person familiar with the move. Though Elliott’s agitation for change led to speculation that it may have pushed Dorsey out after all, the firm didn’t give Dorsey a new ultimatum or demand that he resign, two people familiar said. Twitter director Martha Lane Fox, who chairs the board’s nominating and governance committee, oversaw the CEO search process, which moved much quicker than the last time Twitter looked for a new CEO in 2015. That time, Twitter’s board eventually brought back co-founder Dorsey after a months-long public search. The board didn’t hire an executive search firm this time, according to a person with knowledge of the process, and the board quickly settled on a known quantity: Agrawal, a deeply technical, long-tenured Twitter executive with little external prominence.Even though Dorsey may have left on his own timeline, it’s possible that Elliott’s pressure on Twitter still played a part in the CEO’s decision to step away and focus on his other company, digital-payments giant Block Inc, formerly known as Square. A spokesperson for Twitter declined to comment. A spokesman for Elliott pointed Bloomberg to the firm’s statement last week, in which it said its “collaboration” with Dorsey over the past two years was “productive and effective.”Insider and the New York Times previously reported that Agrawal had long been a top candidate. Read Bloomberg’s profile of Twitter’s new CEO, Parag Agrawal By the time Elliott first approached Twitter’s board in February 2020, the social network had been a potentially attractive target for activist investors for years. The company’s cultural influence greatly outpaced its business performance, leading some investors to see the company as undervalued, and its leader was holding two CEO jobs, meaning his attention was divided. Twitter’s stock structure was also appetizing to activists. Unlike Facebook parent Meta Platforms Inc. or Snapchat owner Snap Inc., which have preferred stock classes that give early investors and executives outsized control, Twitter has just one class of stock. That means anyone with enough money to do so can buy up shares to create pressure on the company. In November 2019, Dorsey gave Elliott even more fodder for action when he tweeted that he planned to spend as long as six months in 2020 working from Africa. It was a questionable approach for a CEO running two major technology companies based in San Francisco. (While the tweet was controversial at the time, and Dorsey walked back that plan later, he was still able to pursue his wanderlust: He spent much of the past 18 months working remotely from Hawaii, Costa Rica and French Polynesia because of the pandemic.) Elliott’s approach started with a letter to Twitter’s board, which led to a first meeting between representatives from both sides in late February 2020 at a lounge at San Francisco International Airport. The letter was never made public, but Elliott had issues with Twitter’s corporate governance, its pace of execution and—most importantly—its CEO’s decision to hold two jobs at once. Dorsey was also against hiring a chief operating officer to help run Twitter’s daily operations, people with knowledge of the situation said, a move that might have appeased some critics who worried he wasn’t giving Twitter enough attention. When Elliott moved in, Twitter executives knew they were at risk. Elliott and its founder, Paul Singer, have a reputation for getting their way when they invest in public companies. The year prior, the firm had invested in EBay Inc. and demanded changes that led to CEO Devin Wenig resigning nine months later. In 2017, Bloomberg News called Singer “the world’s most feared investor.” Twitter executives started looking for friendly faces. The company hired Goldman Sachs Group Inc. as an advisor, and the board discussed trying to bring on Laurene Powell Jobs as a director, two people said. The philanthropist and Silicon Valley businesswoman, who was married to the late Apple Inc. co-founder Steve Jobs, is a friend of Dorsey’s. Executives also connected with the investment firm Silver Lake Partners and its co-CEO, Egon Durban. The thinking was that Durban and Silver Lake would be friendly to Twitter and help offset some of the intense pressure coming from Elliott. A spokesman for Silver Lake declined to comment. In a twist that surprised many observers, Twitter and Elliott quickly came to a public settlement just weeks after first contact. Twitter would add Elliott’s Jesse Cohn to its board; the board would review its corporate governance and succession plan for CEO; and Twitter would agree to new user growth and revenue goals. Silver Lake invested $1 billion in Twitter and Durban was added to the board as well. Dorsey would keep his job—for the time being. Some wondered whether the truce would be short-lived, given Elliott’s track record of CEO ousters. For most of the next eight months, though, things went relatively smoothly. Twitter’s user base surged thanks to the global pandemic, which created an intense consumer thirst for real-time news. Revenue growth was inconsistent for a while as advertising dollars dried up, but the user growth meant the promise of more people to reach via Twitter once those marketers started spending again. Twitter said that building better targeted ads was its “number one priority” on an earnings call in April 2020—a stark change after previously focusing on goals like “healthy conversations”—and by the middle of that summer, Twitter had announced plans for a subscription product that had been discussed internally for years. On Nov. 2, 2020, Twitter’s board, which now included members from both Elliott and Silver Lake, issued a filing that it had reviewed the company’s corporate structure. It also “expressed its confidence in management and recommended that the current structure remain in place.” Again, Dorsey got the activists’ support to keep his job. Still, Elliott never fully disappeared. Twitter announced a handful of ambitious revenue goals during an analyst day event in February 2021—its first Analyst Day since 2014—including a goal to double annual revenue by 2023. Cohn announced in April that he would step off the company’s board, but just a month later, Elliott bought more than $200 million in additional Twitter stock after shares slumped following a poor earnings report.The deeper investment was a not-so-subtle reminder that while Cohn was leaving the board, Elliott was still nearby and waiting to pounce if things didn’t improve. As of August, it still owned a large Twitter stake worth well over $1 billion, according to a person familiar with the companies. It’s possible that those lofty goals and the looming prospect of further activist investor pressure helped inspire Dorsey’s departure. It’s also possible that the Square, now Block, simply aligns more closely with Dorsey’s passions. He’s an outspoken Bitcoin proponent, tweeting about the digital currency constantly. While Twitter is dabbling in crypto and blockchain technologies, Block is more focused on financial technology and has an entire division building Bitcoin-related financial services. No matter why Dorsey left, Elliott is still playing close attention to Twitter. Even though the firm no longer has a board seat, its statement the day Dorsey resigned gave Agrawal a full-throated endorsement. “Having gotten to know both incoming Chairman Bret Taylor and incoming CEO Parag Agrawal,” the statement reads, “we are confident that they are the right leaders for Twitter at this pivotal moment for the company.” Most Read from Bloomberg Businessweek From the Great Resignation to Lying Flat, Workers Are Opting Out The Hunt for a Single Shot to Defeat Omicron and All Coronaviruses Return-to-Office Chaos Is the Best Thing to Happen to Consultants Since Y2K The Fall of a Russian Cyberexecutive Who Went Against the Kremlin ©2021 Bloomberg L.P. View comments || What Intellectuals Still Don’t Get About Crypto: “Yes, Web3 is a bunch of bullshit. The problem is, compared to what?” That subhead to Matt Stoller’snewsletter this weekset me off even more than the headline, which read, “Cryptocurrencies: a Necessary Scam?” To be clear, my issue isn’t with the all-too-common grammatical slip in the comparative. (Hint: Matt, pleasereview Shakespeareand the difference between“compare to” and “compare with.”) You’re reading Money Reimagined, a weekly look at the technological, economic and social events and trends that are redefining our relationship with money and transforming the global financial system. Subscribe to get the full newsletterhere. No, what got me was the “yes” in Stoller’s statement. It was a wink to the intellectual elite, as if to say, “Don’t worry, it’s okay to acknowledge that those crazies in the crypto community, while possibly well-meaning in their critique of broken political-economic order, are, yes, Kool Aid-drinking cultists.” It was especially galling because I’d been scheduled to join Stoller on Peter McCormack’s “What Bitcoin Did” podcast this past weekend, with a format that Stoller suggested we describe as “convince Matt Stoller.” Scheduling conflicts meant I couldn’t make it. I guess he remains unconvinced. It also stung because I’m a big fan of Stoller, a leading light in the so-called Hipster Antitrust movement who is closely aligned with Lina Khan, chairwoman of the Federal Trade Commission. Stoller’s bookGoliathis a must read on why we must confront monopoly power to protect democracy and long-term prosperity. In so many other respects, his worldview aligns with mine. He’s a believer in free, open, competitive markets and, most importantly, that it’s necessary to prevent excessively powerful gatekeepers from manipulating and distorting those markets. In an age when dominating internet platforms have forged an insidiously destructive system ofsurveillance capitalism, Stoller’s writings – found in hisBIG blog/newsletter– have done much to focus our attention on why society needs to act on this, now more than ever. Where we clearly disagree is on whether cryptocurrencies and blockchain are a viable mechanism in the digital age for executing on that. Why do thoughtful, intelligent people like Matt Stoller have such a blind spot to crypto? On the surface, it might be because, like me, they find the money-grabbing excess of crypto speculation kind of gauche and annoying, a bit beneath us. But, stepping back. I’d say it’s because even though they express interest in reforming our financial system, their minds are trapped – as we all are to differing degrees – in the meta-story of our system of money and power, the one that holds it all together. They fight from within that framework, not from outside of it, because they can’t imagine any other way. Nearly all of what constitutes our system of governance – our agreed-upon mechanism for setting the rules of conduct and forging the trust needed to engage in exchanges of value – is a product of our collective imagination: religions, nation-states, corporations, money itself. According to Israeli historian Yuval Harari, our ability to imagine such concepts, to collectively tell these “stories,” is what made civilization possible. They are necessary fictions, but fictions nonetheless. Before we can analyze whether cryptocurrencies constitute “real” value or not, we must first acknowledge that reality. Not doing so is where Stoller sells himself short. In describing – and thereby dismissing – cryptocurrencies as “a social movement based on the belief that markings in a ledger on the internet have intrinsic value,” he loses sight of how that exact same description can be applied to all money. As we’ve discussed in prior editions of this column, the essence of money doesn’t lie in the thing we use to represent it – the gold coin, the banknote, the wampum – but in its function as a record-keeping device, the means by which society keeps track of everyone’s debit and credits and by which our debts to each other are cleared. Money is, quite literally, “markings in a ledger” – albeit one that now integrates bank account entries with the physical transfer of tokenized “counting tools” (coins and banknotes). Also, we should note that in its currency form, money has no intrinsic value. Yet to function, it requires collective belief in its indisputable “value.” Because that unquestioned belief is necessary for it to fulfill its core record-keeping function, all money can quite reasonably be described as a “social movement.” It’s difficult to acknowledge that our existing systems of money and governance are socially constructed imaginings. It forces us to put a metaphorical asterisk next to concepts we otherwise take for granted as given realities. And until recently, there hasn’t been a compelling reason to question the dominant governance paradigm. For the past few centuries, the global economy has operated, unquestioned, within a framework of centralized institutions such as nation-state governments, media outlets and companies. It’s hard for any competitor to that system to challenge something so entrenched as money or the nation-state. Such a change is almost unfathomably monumental. But governance paradigms do shift – think of the French Revolution or the U.S Declaration of Independence. For any newly imagined competitor to those systems to claim legitimacy requires a serious challenge to the foundation of that belief system, a shift that renders the existing paradigm out of touch, and the new one – be it crypto or something else – as a viable alternative. For something as entrenched as money or the nation-state, such changes are rare. They are monumental by nature. Yet that’s precisely what has happened. Over the past three decades, there has been a shock to our prevailing governance systems, mostly due to digital technology and new means of human interconnectivity. Many in the intellectual class may not have noticed the change, or at least haven’t recognized how fundamental it is. And no doubt many would think it presumptuous for a mob of crypto fanatics to claim they alone have seen it. Regardless, the paradigm has most definitely shifted. The change came, gradually, in two phases. First, there was the arrival of the internet, which broke down the hierarchies determining who gets to produce, broadcast and receive information. It also allowed people to organize independently of geography. The idea of what constitutes a “community” or who gets to lead it was upended. Well before crypto fanatics started crowing about “decentralization,” the internet was already decentralizing a vital part of modern civilization. That has fueled what former Central Intelligence Agency analyst Martin Gurri has described as the“revolt of the public,”a backlash against the elites behind the centralized institutions that dominated our global governance system throughout the 20th century. Meanwhile, as the internet widened societal access to information and gave more and more people the capacity to produce and distribute information, it forged an entirely new, highly valuable commodity: the data we accumulate throughout our digital lives as we interact with those ever-expanding information access points. That created an opportunity for a few centralized internet platforms to become even more powerful than the institutions of the pre-internet era. They used network effects to their advantage, fostering dependencies on their services and gathering monopoly power of that data. The problem was that in this flatter, democratized information exchange system, there was no governance model commensurate with its decentralized structure. There was no way to prove identities or to keep track of transactions (either of money or of data, that newly valuable commodity) in ways that all parties could trust. So we defaulted to the same old centralized structures we’d always relied upon. Yet in the borderless world of the internet, everything was ill-defined. Where do the boundaries lie for jurisdictions, copyright, property, identity, etc.? There was no way for people to trustfully interact with each other on a purely peer-to-peer basis online. That left a breach into which stepped the likes of Amazon, Facebook and Google et al. to act as our intermediating gatekeepers. It thrust us into the worst-of-all-worlds solution of surveillance capitalism. Then along comes the other element of the paradigm shift: a brand new governance system for keeping track of data exchanges (of which money is just a subset), without requiring people to trust an adjudicating third-party ledger keeper to record and validate those transactions. It started with Bitcoin and then encompassed a variety of blockchain solutions within what has since become known as “crypto.” Now, we have a decentralized system for the internet of value to marry the decentralized internet of information.. Together, these changes make for a radical new way of both conducting and governing human interactions. They are no panacea to the domination of Big Tech, but they at least offer the potential for a new, Web 3 model of existence for our current age. They offer a vision of self-sovereign individuals in the digital realm. At the very least, they demand that we question existing narratives. I still might not be able to “convince Matt Stoller,” but perhaps if he and his ilk were more open-minded about why these new governance models are important, they might see less of a “bunch of bullshit” and more promise. || Purpose Investments Inc. Announces December Monthly Distributions and Final Annual 2021 Capital Gains Distributions: TORONTO, Dec. 17, 2021 (GLOBE NEWSWIRE) -- Purpose Investments Inc. (“Purpose”) is pleased to announce distributions for the month of December 2021 and final annual 2021 capital gain distributions for its open-end exchange traded funds and closed-end funds (“the Funds”). December 2021 Monthly Distributions The ex-distribution date for all ETFs is December 24, 2021, with the exception of Purpose High Interest Savings ETF and Purpose US Cash Fund, which have an ex-distribution date of December 31, 2021. The ex-distribution date for all closed-end funds is December 30, 2021. Open-End Funds Ticker Symbol Distribution per share/unit Record Date Payable Date Distribution Frequency Purpose Core Dividend Fund - ETF Series PDF $0.0850 1 12/29/2021 01/10/2022 Monthly Purpose Enhanced Dividend Fund – ETF Series PDIV $0.0522 1 12/29/2021 01/10/2022 Monthly Purpose Total Return Bond Fund - ETF Series PBD $0.0520 1 12/29/2021 01/10/2022 Monthly Purpose Real Estate Income Fund – ETF Series PHR $0.0720 1 12/29/2021 01/10/2022 Monthly Purpose Monthly Income Fund - ETF Series PIN $0.0830 1 12/29/2021 01/10/2022 Monthly Purpose Premium Yield Fund – ETF Series PYF $0.0830 1 12/29/2021 01/10/2022 Monthly Purpose Premium Yield Fund Non-Currency Hedged USD – ETF Series PYF.U US $ 0.0885 1 12/29/2021 01/10/2022 Monthly Purpose Premium Yield Fund Non-Currency Hedged – ETF Series PYF.B $0.0885 1 12/29/2021 01/10/2022 Monthly Purpose Canadian Financial Income Fund – ETF Series BNC $0.0850 1 12/29/2021 01/10/2022 Monthly Purpose Conservative Income Fund – ETF Series PRP $0.0540 1 12/29/2021 01/10/2022 Monthly Purpose International Tactical Hedged Equity Fund – ETF Series PHW $0.1000 1 12/29/2021 01/10/2022 Quarterly Purpose Diversified Real Asset Fund – ETF Series PRA $0.0750 1 12/29/2021 01/10/2022 Quarterly Purpose Enhanced Premium Yield Fund – ETF Series PAYF $0.1181 1 12/29/2021 01/10/2022 Monthly Purpose International Dividend Fund – ETF Units PID $0.0780 12/29/2021 01/10/2022 Monthly Purpose US Dividend Fund – ETF Units PUD $0.0650 12/29/2021 01/10/2022 Monthly Purpose US Dividend Fund Non-Currency Hedged – ETF Units PUD.B $0.0760 12/29/2021 01/10/2022 Monthly Purpose Global Bond Fund – ETF Units BND $0.0585 12/29/2021 01/10/2022 Monthly Purpose High Interest Savings ETF PSA $0.0256 12/31/2021 01/10/2022 Monthly Purpose US Cash Fund – ETF Units PSU.U US$ 0.0274 12/31/2021 01/10/2022 Monthly Purpose Strategic Yield Fund – ETF Units SYLD $0.0970 12/29/2021 01/10/2022 Monthly Purpose Multi-Asset Income Fund – ETF Units PINC $0.0840 12/29/2021 01/10/2022 Monthly Purpose Global Bond Class – ETF Units IGB $0.0602 1 12/29/2021 01/10/2022 Monthly Purpose Canadian Preferred Share Fund – ETF Units RPS $0.0950 12/29/2021 01/10/2022 Monthly Purpose Core Equity Income Fund – ETF Series RDE $0.0650 1 12/29/2021 01/10/2022 Monthly Purpose US Preferred Share Fund – ETF Units RPU $0.0940 12/29/2021 01/10/2022 Monthly Purpose US Preferred Share Fund Non-Currency Hedged – ETF Units 2 RPU.B / RPU.U $0.0940 12/29/2021 01/10/2022 Monthly Purpose Emerging Markets Dividend Fund – ETF Units REM $0.0580 12/29/2021 01/10/2022 Monthly Purpose Global Flexible Credit Fund – ETF Units FLX $0.0297 12/29/2021 01/10/2022 Monthly Purpose Global Flexible Credit Fund - Non-Currency Hedged USD – ETF Units FLX.U US$ 0.0375 12/29/2021 01/10/2022 Monthly Purpose Global Flexible Credit Fund - Non-Currency Hedged – ETF Units FLX.B $0.0365 12/29/2021 01/10/2022 Monthly Black Diamond Global Equity Fund – ETF Units BDEQ $0.0112 12/29/2021 01/10/2022 Monthly Black Diamond Distressed Opportunities Fund – ETF Units BDOP $0.0075 12/29/2021 01/10/2022 Monthly Purpose Marijuana Opportunities Fund – ETF Units MJJ $0.0100 12/29/2021 01/10/2022 Quarterly Purpose Global Climate Opportunities Fund – ETF Units CLMT $0.0100 12/29/2021 01/10/2022 Monthly Purpose Credit Opportunities Fund – ETF Units CROP $0.0875 12/29/2021 01/10/2022 Monthly Purpose Bitcoin Yield ETF – ETF Units BTCY $0.1000 12/29/2021 01/10/2022 Monthly Purpose Bitcoin Yield ETF – ETF Non-Currency hedged Units BTCY.B $0.1035 12/29/2021 01/10/2022 Monthly Purpose Bitcoin Yield ETF – ETF Units Non-Currency Hedged USD Units BTCY.U US$ 0.1000 12/29/2021 01/10/2022 Monthly Purpose Ether Yield ETF – ETF Units ETHY $0.1400 12/29/2021 01/10/2022 Monthly Purpose Ether Yield ETF – ETF Non-Currency hedged Units ETHY.B $0.1550 12/29/2021 01/10/2022 Monthly Purpose Ether Yield ETF – ETF Units Non-Currency Hedged USD Units ETHY.U US$ 0.1400 12/29/2021 01/10/2022 Monthly Closed-End Funds Ticker Symbol Distribution per share/unit Record Date Payable Date Distribution Frequency Investment Grade Managed Duration Income Fund – Class T PFU.UN $0.0417 12/31/2021 01/17/2022 Monthly U.S. Banks Income & Growth Fund – Class T PUB.UN $0.0417 12/31/2021 01/17/2022 Monthly Canadian Investment Grade Preferred Share Fund – Class T RIGP.UN $0.1146 12/31/2021 01/17/2022 Monthly Big Banc Split Corp – Class A BNK $0.0662 12/31/2021 01/14/2022 Monthly Big Banc Split Corp – Preferred Shares BNK.PR.A $0.0500 12/31/2021 01/14/2022 Monthly (1) Dividend is designated as an “eligible” Canadian dividend for purposes of the Income Tax Act (Canada) and any similar provincial and territorial legislation. (2) Purpose US Preferred Share Fund Non-Currency Hedged – ETF Units have both a CAD and USD purchase option. Distribution per unit is declared in CAD, however, the USD purchase option (RPU.U) distribution will be made in the USD equivalent. Conversion into USD will use the end-of-day foreign exchange rate prevailing on the ex-distribution date. Final Annual 2021 Capital Gains Distributions Purpose today announced the final annual capital gains distributions for its open-end exchange-traded funds and closed-end funds with a December 15, 2021 tax year-end. The distributions represent capital gains realized by the Funds during the year. Story continues The annual capital gain distributions for the funds listed below will be paid in cash. ETF Series unitholders of record at the close of business on December 24, 2021 will receive the 2021 annual capital gains distribution on December 31, 2021. Details of the per unit distribution amounts are as follows: Purpose Mutual Fund Trusts Ticker Symbol Exchange Final Annual Capital Gains Distribution Per Unit Black Diamond Global Equity Fund – ETF Units BDEQ TSX $1.7500 Purpose Global Bond Fund – ETF Units BND TSX $0.0430 Purpose Emerging Markets Dividend Fund – ETF Units REM NEO $0.8000 Purpose US Preferred Share Fund – ETF Units RPU NEO $0.0400 Purpose International Dividend Fund – ETF Units PID TSX $0.2300 Purpose Ether Yield ETF – ETF Units ETHY TSX $0.0500 Purpose Ether Yield ETF – ETF Non-Currency Hedged Units ETHY.B TSX $0.0500 Purpose Ether Yield ETF – ETF Units Non-Currency Hedged USD Units ETHY.U TSX US$ 0.0500 Purpose Crypto Opportunities ETF – ETF Units CRYP TSX $0.0300 Purpose Crypto Opportunities ETF – ETF Non-Currency hedged Units CRYP.B TSX $0.0300 Purpose Crypto Opportunities ETF – ETF Units Non-Currency Hedged USD Units CRYP.U TSX US$ 0.0300 Purpose expects to announce the final annual capital gains distributions amounts for Purpose High Interest Savings ETF, Purpose US Cash Fund, and Purpose Specialty Lending Trust on or about December 31, 2021, if necessary. As of December 17, 2021, no capital gains distributions are expected for these funds. For Purpose Fund Corp. funds and Big Banc Split Corp., which are mutual fund corporations, final annual capital gains distributions will be announced on or about January 18, 2022. Shareholders of record on January 24, 2022 will receive the annual capital gains distributions on January 28, 2022 and such capital gains will be applicable for 2022 tax year. The final year-end capital gain distributions for these funds will be paid in cash. Purpose confirms that Purpose Mutual Funds Limited funds will not have any annual capital gain distributions. About Purpose Investments Inc. Purpose Investments is an asset management company with more than $14 billion in assets under management. Purpose Investments has an unrelenting focus on client-centric innovation, and offers a range of managed and quantitative investment products. Purpose Investments is led by well-known entrepreneur Som Seif and is a division of Purpose Financial, an independent technology-driven financial services company. For further information please contact: Keera Hart [email protected] 905-580-1257 Commissions, trailing commissions, management fees and expenses all may be associated with investment fund investments. Please read the prospectus and other disclosure documents before investing. Investment funds are not covered by the Canada Deposit Insurance Corporation or any other government deposit insurer. There can be no assurance that the full amount of your investment in a fund will be returned to you. If the securities are purchased or sold on a stock exchange, you may pay more or receive less than the current net asset value. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated. [Random Sample of Social Media Buzz (last 60 days)] None available.
Trend: down || Prices: 43569.00, 43160.93, 41557.90, 41733.94, 41911.60, 41821.26, 42735.86, 43949.10, 42591.57, 43099.70
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 2017-11-06] BTC Price: 7022.76, BTC RSI: 68.98 Gold Price: 1279.40, Gold RSI: 49.57 Oil Price: 57.35, Oil RSI: 79.66 [Random Sample of News (last 60 days)] Backers withdraw two proposals to list U.S. bitcoin funds: By Trevor Hunnicutt (Reuters) - An effort to allow investors to trade digital currencies as easily as stocks stumbled when backers withdrew two proposals to list bitcoin funds. Intercontinental Exchange Inc's (ICE.N) NYSE Arca exchange on Wednesday withdrew an application with the U.S. Securities and Exchange Commission (SEC) to list Grayscale Investments LLC's Bitcoin Investment Trust (GBTC.PK). Also on Wednesday, Van Eck Associates Corp pulled a registration document for a bitcoin fund after saying the SEC told them they would not review the filing until futures contracts on the digital currency start trading. "Although digital currency market regulation continues to rapidly evolve, at this time Grayscale does not believe there have been enough regulatory developments to prompt the SEC to approve the ... application," Grayscale said in a statement. They said they would continue their dialogue with regulators. The Bitcoin Investment Trust is currently traded "over the counter" in less formal exchanges than those used for typical stocks and at far higher prices than the bitcoin it holds. Shares traded down 3.2 percent to $715.50 on Thursday, far higher than the issuer's appraisal that its bitcoin assets are worth $386.60 per share. GBTC shares gained nearly 500 percent this year, more even than the 332 percent rise of bitcoin (BTC=BTSP) to more than $4,100. The currency's meteoric rise prompted JPMorgan Chase & Co (JPM.N) CEO Jamie Dimon this month to call bitcoin "a fraud" that will blow up. Bitcoin can be used to move money with relative anonymity, and without the need for a central authority, such as a bank or government. SEC approval could bring more investors to the asset, yet the regulatory agency has expressed doubts over the bitcoin market being unregulated. The SEC declined to comment. NYSE could not be reached. In March, the SEC blocked two potential bitcoin products, including one backed by Cameron and Tyler Winklevoss, twin investors best known for feuding with Facebook Inc (FB.O) founder Mark Zuckerberg. CBOE Holdings Inc's (CBOE.O) Bats exchange, which wanted to host that exchange-traded fund, appealed the ruling. A proposal to list a product based on ether, another digital currency, was pulled earlier this month. Bitcoin-tracking products already trade in Europe and one is being considered in Canada. Regulators have not weighed in on two other efforts to bring a digital currency to U.S. exchanges, including a proposal filed on Wednesday by ProShare Capital Management LLC for a fund that would short bitcoin futures, betting their prices will fall. (Reporting by Trevor Hunnicutt in New York; Additional reporting by Kanishka Singh in Bengaluru; editing by Alexander Smith and Lisa Shumaker) || GLOBAL MARKETS-Dollar, shares bounce on relief at North Korea inaction: * Relief in Asia as Pyongyang holds back on missile test * Nikkei futures bounce as yen eases back, dollar edges up * Oil pares losses as Irma downgraded to Category 2 * Eyes on yuan on talk PBOC to ease currency restrictions By Wayne Cole SYDNEY, Sept 11 (Reuters) - The U.S. dollar won a reprieve from risk aversion on Monday after North Korean dictator Kim Jong Un decided to hold a party over the weekend rather than launch another missile, tempering safe havens like the yen and Treasuries. Investors remained cautious over the possible economic impact of Hurricane Irma as it chewed its way up the Florida coast, knocking out electricity to 2.5 million homes and businesses statewide. Nikkei futures were trading up 0.8 percent after Pyongyang held a massive celebration to congratulate the nuclear scientists and technicians who steered the country's sixth and largest nuclear test a week ago. The United States and its allies had been bracing for another long-range missile launch in time for the 69th anniversary of North Korea's founding on Saturday. The sense of relief was enough to lift E-Mini futures for the S&P 500 by 0.3 percent, while Treasury 10-year note futures fell 10 ticks. The U.S. dollar edged up to 108.43 yen and away from Friday's 10-month trough of 107.32. Against a basket of currencies, the dollar added 0.2 percent to 91.521 but that was still uncomfortably close to last week's 2-1/2 year low of 91.011. The euro eased to $1.2015, having hit a top of $1.2092 on Friday amid speculation the European Central Bank was closer to starting a wind-back of its stimulus program. ECB officials last week generally agreed their next move would be to cut their bond purchases and discussed a range of options, Reuters reported. China's central bank was also a focus in Asia after sources said it plans to scrap reserve requirements for financial institutions settling foreign exchange forward yuan positions with effect from Monday. "The removal potentially makes it easier for traders to purchase the USD, easing the pressure for yuan appreciation," said analysts at ANZ in a note. "The change likely signals some discomfort about the stronger yuan and its impact on Chinese exports." The dollar was last up 0.25 percent against the offshore yuan at 6.5013 yuan, off a low of 6.4437. There were also reports Beijing was planning to shut down local crypto-currency exchanges, dealing a blow to Bitcoin's recent stellar rally. Bitcoin was quoted down 0.8 percent at $4,274 on the BitStamp platform, off the recent record high of nearly $5,000. In commodity markets, gold softened 0.7 percent to $1,337.01 an ounce and away from a one-year peak of $1,357.54. Oil prices regained a little ground after falling sharply on Friday amid worries that energy demand would be hit hard by Hurricane Irma. U.S. crude was trading 22 cents firmer at $47.70 a barrel, while Brent rose 17 cents to $53.95. (Editing by Richard Pullin) || Bank beats not enough to impress Wall Street: The markets are struggling to keep the record breaking streak going this morning. However, investors are focusing their attention on major Wall Street banks’ earnings. Yahoo Finance’sAlexis Christoforous, Editor-in-ChiefAndy SerwerandMyles Udlanddiscuss the big stories of the day. Today’s topics: • JPMorganprofit tops estimates • Citigroupearnings and revenue top estimates • FacebookCOO Sheryl Sandberg met with House Intelligence Cmte. • Massive wildfires continue in California • Bitcoinhits new highs • AT&Tfalls after warning investors that natural disasters cut into profit • CarGurusdebuts on the Nasdaq today • Amazonto hire over 120,000 people for the holiday season • Alphabetdemands $1B from Uber in settlement: Reuters • Pres Trump to ease Obamacare rules • China wants a 1% stake inTencent,Weibo& a unit ofAlibaba • Disneyteams with other studios for Movies Anywhere expansion TWITTER POLL:Which health care plan do you think is better?-Obamacare-Trump’s plan-Neither || Bitcoin is in a bubble, and here's how it's going to crash: Can bitcoin (Exchange: BTC=-USS) be a transformational, technology-based, currency and be in a bubble at the same time? Uh, yeah! JPMorgan Chase (NYSE: JPM) CEO Jamie Dimon created a bit of a stir in the market for bitcoin on Tuesday by claiming the cryptocurrency is a fraud and is in a valuation bubble that will burst. He said he'd fire any employee in his trading division who speculates in that currency market. Critics say Dimon is just protecting his entrenched financial market turf, while others, like myself, voiced their agreement with his core premise.There is so much to "unpack" when it comes to discussing transformational, or disruptive, technologies that have become highly speculative that it's hard to compress it into a mere 750 words or so. But here goes:Most disruptive developments in technology and finance eventually inflate into speculative bubbles as investors and traders assume that the intrinsic value of these new vehicles will expand forever.The "Tulip Mania" in Holland in the 1630s to which Dimon alluded notwithstanding, history is replete with examples of how transformational technologies enter a highly speculative phase, leading to the creation of great riches for early investors but great risks for those who arrive at the party far too late.Here, one looks back to history to identify the various and sundry bubbles that brought both great risks and rewards to investors and suckers alike! The exploration of the New World led to the catastrophic "South Sea Bubble" in Great Britain in the 18 th century, along with the "Mississippi Scheme" in France at roughly the same time. Isaac Newton lost a fortune in the former while the French government nearly collapsed in the latter.Of more domestic vintage, turnpike and canal bonds were the subject of great speculation in early American history. So were railroad bonds, electric utility stocks, auto companies, radio firms, the electronics industry, color TV companies, Japanese conglomerates, computer, biotech, internet shares and real estate, and all crashed when excessive optimism far outweighed the more rational expectations normally associated with prudent investing.So too will be the case with bitcoin.The price of a single bitcoin has gone up parabolically and at a faster pace than any other speculative vehicle in market history, as investor enthusiasm for the new medium has reached a fever pitch.However, its adoption as a global currency is suspect, partly for regulatory reasons and partly because creating a world currency from scratch, especially given the mandatory limitations on bitcoin creation, is no mean feat. There have been only three reserve currencies in the history of the Western World: the British pound, the French franc (however briefly) and the U.S. dollar (STOXX: .DXY) . Today, the dollar accounts for roughly two-thirds of all financial and economic transactions globally. The daily value of foreign exchange trading tops $5 trillion, alone, while bitcoin does a mere fraction of that.As yet, bitcoin also fails as a currency in several ways. Money is defined by three characteristics:A storehouse of value.A unit of account.A medium of exchange.It's hard to determine if bitcoin is a storehouse of value. Daily volatility tops 5 percent to 10 percent while its "value" has skyrocketed. If it crashes, it will fail to meet criteria No. 1.It is a unit of account, but for whom?It may be a medium of exchange, but for now that is only for a very few users.Convertibility is suspect in some nations where bitcoin exchanges have been banned, creating some confusion as to how the currency can be used.Complicating all that is the use of cryptocurrencies in the "dark web" for a wide variety of illicit activities, from money laundering to drug dealing to prostitution, among others.Additional issues involve sovereign nations and their desire to maintain control of their respective currencies and money supplies that make widespread use of bitcoin unlikely in the very near term.I've studied bubbles, written extensively about them and have covered no shortage of speculative events in my 33-year career.Bitcoin is in a bubble, make no mistake. The episode, for some, will end badly while others reap the rewards of getting in on the action early and, more importantly, getting out before the bust.But as in the case of many prior breakthrough technologies, the transformation will indeed be disruptive and extremely important even if the first mover fails to survive.The two, as history has shown, are not at all mutually exclusive.WATCH: Bitcoin mining can land you in jail in this country Can bitcoin (Exchange: BTC=-USS) be a transformational, technology-based, currency and be in a bubble at the same time? Uh, yeah! JPMorgan Chase (NYSE: JPM) CEO Jamie Dimon created a bit of a stir in the market for bitcoin on Tuesday by claiming the cryptocurrency is a fraud and is in a valuation bubble that will burst. He said he'd fire any employee in his trading division who speculates in that currency market. Critics say Dimon is just protecting his entrenched financial market turf, while others, like myself, voiced their agreement with his core premise. There is so much to "unpack" when it comes to discussing transformational, or disruptive, technologies that have become highly speculative that it's hard to compress it into a mere 750 words or so. But here goes: Most disruptive developments in technology and finance eventually inflate into speculative bubbles as investors and traders assume that the intrinsic value of these new vehicles will expand forever. The "Tulip Mania" in Holland in the 1630s to which Dimon alluded notwithstanding, history is replete with examples of how transformational technologies enter a highly speculative phase, leading to the creation of great riches for early investors but great risks for those who arrive at the party far too late. Here, one looks back to history to identify the various and sundry bubbles that brought both great risks and rewards to investors and suckers alike! The exploration of the New World led to the catastrophic "South Sea Bubble" in Great Britain in the 18 th century, along with the "Mississippi Scheme" in France at roughly the same time. Isaac Newton lost a fortune in the former while the French government nearly collapsed in the latter. Of more domestic vintage, turnpike and canal bonds were the subject of great speculation in early American history. So were railroad bonds, electric utility stocks, auto companies, radio firms, the electronics industry, color TV companies, Japanese conglomerates, computer, biotech, internet shares and real estate, and all crashed when excessive optimism far outweighed the more rational expectations normally associated with prudent investing. So too will be the case with bitcoin. The price of a single bitcoin has gone up parabolically and at a faster pace than any other speculative vehicle in market history, as investor enthusiasm for the new medium has reached a fever pitch. However, its adoption as a global currency is suspect, partly for regulatory reasons and partly because creating a world currency from scratch, especially given the mandatory limitations on bitcoin creation, is no mean feat. There have been only three reserve currencies in the history of the Western World: the British pound, the French franc (however briefly) and the U.S. dollar (STOXX: .DXY) . Today, the dollar accounts for roughly two-thirds of all financial and economic transactions globally. The daily value of foreign exchange trading tops $5 trillion, alone, while bitcoin does a mere fraction of that. As yet, bitcoin also fails as a currency in several ways. Money is defined by three characteristics: A storehouse of value. A unit of account. A medium of exchange. It's hard to determine if bitcoin is a storehouse of value. Daily volatility tops 5 percent to 10 percent while its "value" has skyrocketed. If it crashes, it will fail to meet criteria No. 1. It is a unit of account, but for whom? It may be a medium of exchange, but for now that is only for a very few users. Convertibility is suspect in some nations where bitcoin exchanges have been banned, creating some confusion as to how the currency can be used. Complicating all that is the use of cryptocurrencies in the "dark web" for a wide variety of illicit activities, from money laundering to drug dealing to prostitution, among others. Additional issues involve sovereign nations and their desire to maintain control of their respective currencies and money supplies that make widespread use of bitcoin unlikely in the very near term. I've studied bubbles, written extensively about them and have covered no shortage of speculative events in my 33-year career. Bitcoin is in a bubble, make no mistake. The episode, for some, will end badly while others reap the rewards of getting in on the action early and, more importantly, getting out before the bust. But as in the case of many prior breakthrough technologies, the transformation will indeed be disruptive and extremely important even if the first mover fails to survive. The two, as history has shown, are not at all mutually exclusive. WATCH: Bitcoin mining can land you in jail in this countryMore From CNBC • Terror to end bitcoin anonymity? • 'Smart' people and Panama Papers • Bitcoin mining IPO falls short || STOCKS EXTEND RECORD HIGHS: Here's what you need to know: yoga coachella stretch concert festival (Mike Windle/Getty Images) Stocks extended record highs as the Trump administration plotted a tax overhaul and North Korean tensions remained subdued. The S&P 500 rose 0.3% as concerns over the cost of Hurricane Irma ebbed, adding to Monday's all-time closing high. Meanwhile, the Dow increased 0.2% and the more tech-heavy Nasdaq climbed 0.3%. First up, the scoreboard: Dow: 22,118.86, +61.49, (+0.28%) S&P 500: 2,496.48, +8.37, (+0.34%) Nasdaq: 6,454.28, +22.02, (+0.34%) US 10-year yield: 2.17%, +0.046 WTI crude oil: $48.25, +0.18, +0.37% 1. JPMorgan CEO Jamie Dimon said bitcoin is a fraud that's 'worse than tulip bulbs.' At a Barclays conference, Dimon called the cryptocurrency a "fraud," and said that he would fire any trader that transacted bitcoin for being stupid. 2. Bank of America conducted an investor management survey that found bitcoin is the 'most crowded' trade . The study found that 26% of investors surveyed in September said they viewed being long bitcoin as the most crowded trade. 3. An Amazon-based retail trade has quadrupled the stock market's return this year . If you'd have made bullish bets on Amazon while placing bearish wagers on the most-shorted retailers, you'd have raked in a 43.7% return, according to financial analytics firm S3 Partners. 4. Apple announced 3 new iPhones and a revamped watch , and its stock fell. This year's corporate event celebrated the 10th anniversary of the iPhone with a brand-new model called the iPhone X. 5. Hurricanes Irma and Harvey cause Goldman Sachs to slash its outlook for the US economy . The firm now sees GDP growing by 2% in the third quarter, 0.8 percentage points lower than its previous forecast. ADDITIONALLY: Bitcoin slides after Jamie Dimon bashes the cryptocurrency The world's largest sovereign wealth fund tops $1 trillion for the first time DowDuPont is tweaking its post-merger breakup plan Apple stock is slipping after announcing the iPhone X Snap spiked after Apple demoed its new face tracking live on stage Story continues HEDGE FUND BILLIONAIRE JULIAN ROBERTSON: ‘We're creating a bubble' and it’s the Fed’s fault Millennials are driving a shift in how the ultra-wealthy manage their money NOW WATCH: GARY SHILLING: If you don't like your job, you're 'wasting precious time' More From Business Insider An Amazon-based retail trade has quadrupled the stock market's return this year STOCKS SOAR TO A NEW RECORD: Here's what you need to know NFL quarterbacks and tech stocks dominate their respective worlds — here are 7 perfect matchups || Crude Oil Price Analysis for November 7, 2017: Crude has ramped up to fresh 2.5 year highs of 57.31. Reports that Nigeria is willing to extend the production caps currently in place, and that conflict in Libya may see 250k barrels per day of production shut in have been the latest catalysts. In addition, uncertainty over Saudi Arabia’s apparent power struggle has supported. There has been talk that the Kingdom will not let oil prices slip back ahead of the key sale of part of Saudi Aramco next year. Technicals Crude oil prices surged higher on Monday, zipping up to fresh 2.5 years highs and poised to test target resistance near the May 2015 highs at 62.38. Support is now seen near the 10-day moving average at 54.16. Momentum is positive as the MACD (moving average convergence divergence) index recently generated a crossover buy signal. This occurs as the MACD index (the 12-day exponential moving average minus the 26-day exponential moving average) crosses above the MACD signal line (the 9-day exponential moving average of the MACD line). The RSI (relative strength index) which is a momentum oscillator that measures overbought and oversold levels, moved higher with price action, reflecting accelerating positive momentum. The current reading of the RSI is 80, well above the overbought trigger level of 70, which could foreshadow a correction. Crack Down in Saudi Arabia Prince Mohammed bin Salman’s Saturday night roundup of dozens of prominent royals and officials all under the auspices of the king he may succeed within months is actually a natural, if jarring, progression. This could continue to buoy crude oil prices if it continues. The prince’s consolidation of power has been evident since June at least, when former Crown Prince Mohammed bin Nayef was taken out of the line of succession and replaced as interior minister. While the arrest of Prince Alwaleed bin Talal generated many headlines, chiefly because he is so well known in the West, his detention wasn’t the most momentous. Story continues That dubious honor belongs to Prince Miteb bin Abdullah, a son of the last king and, until this weekend, head of the country’s National Guard. In Prince Mohammed’s push to consolidate power and deter opponents, taking control of the ruling family’s praetorian guard is a no-brainer. Manufacturing is Buoying Crude German manufacturing orders unexpectedly jumped 1.0% month over month in September. Expectations had been for a correction from the strong August number, which was revised up to 4.1% month over month from 3.6% year over year reported initially. The annual rate jumped to 9.5% year over year. The extremely strong data points to a good backlog of orders going into the last quarter of the year and ties in with reports from PMI surveys suggesting capacity constraints, which are adding to a fast pace of job creation and rising price pressures. Against that background the ECB’s very cautious reduction of stimulus and the ongoing reluctance to commit to a firm end date for QE is looking questionable, but with political risks and Brexit still hanging over Europe, central banks clearly are taking a very careful stance. A Strong Dollar Could Weigh on Crude SF Fed’s Williams argued for price-level targeting and wants a serious debate over a new framework for Fed rate setting. He said it would be optimal to have a decision on the best rate-setting framework before the next recession. Sounds like he’s agitating for some big changes with the upcoming leadership shift. Adopting such a rule today would likely leave rates lower for longer, according to reports. This article was originally posted on FX Empire More From FXEMPIRE: Treasury Yields Fall after Speech by New York Fed President William Dudley Donald Trump Called for Unfair Trade with Japan, Gold Edges Higher but Remains Vulnerable The Complete Guide: Exchanges that Support Bitcoin Gold EUR/USD Daily Technical Analysis for November 7, 2017 Daily Economic Calendar, November 7, 2017 Price of Gold Fundamental Daily Forecast – Firming Despite Weaker U.S. Dollar || Box CEO Aaron Levie says artificial intelligence will change your life and create huge opportunities (BOX, MSFT, AMZN, GOOG, GOOGL): box ceo aaron levie boxworks 2017 Box Last week, Box introduced Box Skills, which lets app developers apply artificial intelligence from Microsoft, Google, and IBM to their cloud files. Box CEO Aaron Levie says that AI could be as big a shift in our technical lives as the PC revolution was – letting machines do more for us as our digital lives sprawl out. He says the real opportunity is in taking Silicon Valley-borne cutting-edge AI and making it accessible to developers everywhere. Levie also says that he's largely made his peace with his rivals at Dropbox, given that they target different markets. Everywhere you go in Silicon Valley, the trendy technology du jour is "artificial intelligence." It's a major selling point for Google's new Pixel phones , the Amazon Echo speaker , Microsoft Office , and a whole mess of tech startups . Aaron Levie, the CEO of $2.75 billion cloud file company Box, acknowledges that when it comes to AI, people are "already tired of the buzzword." And yet, at the company's Boxworks conference where we spoke last week, Levie announced that Box was making a big bet on artificial intelligence, with new features and capabilities. With its new AI upgrades , Box customers can pick and choose AI services from Google, Microsoft, and IBM, which can then be used to automatically classify and tag the voice, video, and image files stashed in your cloud. If you're, say, a hospital, Box is making it easier to build a system such that any X-rays are automatically tagged, secured under federal law, and locked down to only the doctors who are allowed to see them. "We're finally at a point where computers can do things on our behalf," says Levie. Levie likens the rise of artificial intelligence to the PC revolution in the '80s — a shift that could change everything about how we interact with our technology, creating huge opportunities for those with the foresight to invest in AI now. Story continues "We're literally at the beginning of what we can do in this space," says Levie. box skills Box That's where Box comes in, says Levie. Box is taking AI and using it to play to the company's strengths, says Levie. As people and companies stash away ever-increasing amounts of data in the cloud, it gets harder for humans to organize. When companies go looking for smarter ways to handle that growth, Levie wants Box to be there. "There's been few examples of [machine learning] and AI being applied to that problem set," says Levie. "In an enterprise business, that's a really hard problem." Along those lines, Levie says that artificial intelligence is beginning to come into its own, but difficult to use for most people. Platforms like Amazon Web Services, Microsoft Azure, and Google Cloud are offering increasingly intelligent services for building software, but you have to be a pretty sophisticated developer to take advantage. Most companies might need some help. "We've played that role in this context," says Levie. Box is a publicly traded company, and Wall Street apparently thinks Box is poised for growth — at the time of writing, analyst consensus sets a price target for Box of around $24 , up from its current price of about $20 at the time of writing. Drew Houston Johannes Simon/Getty Images Box is a category leader with differentiated technology that targets the boom in mobile devices and cloud computing," writes JP Morgan in an analyst note rating the stock "neutral" following the Boxworks event. JP Morgan says that despite Box's history of operating losses, its technology makes it well-positioned against cloud storage companies like Dropbox, Microsoft, and Google. And on the subject of cloud collaboration, Levie says that he's largely made his peace with Dropbox, once his most public rival , ahead of its expected IPO later this year . The recent Dropbox redesign proved to Levie that the two companies are really going after different customers. He says that while the two companies still compete in small businesses, he believes that Dropbox has begun to focused on power users and creative professionals. Levie has set is eye on the largest of large businesses. "We have a very different strategy," says Levie. "We've staked slightly different markets." NOW WATCH: HENRY BLODGET: Technology may destroy jobs, but it also creates them See Also: Tesla strikes another deal that shows it's about to turn the car insurance world upside down 21 photos that show just how imposing US aircraft carriers are Bitcoin just hit an all-time high — here's how you buy and sell it SEE ALSO: While Amazon and Microsoft battle in the cloud wars, this startup quietly built a $175 million business by picking up their slack || Meet Bitcoin Gold, Yet Another New Kind of Bitcoin: After bitcoin endured a split back in August,creating the new Bitcoin Cash cryptocurrency, it happened again on Tuesday. This time, the aim was to create a new coin calledBitcoin Gold. As before, the split—known as a “fork” in the industry—has led to two currencies (the other being the classic bitcoin, or BTC), each having the same transaction history up untilthe point of separation, where they went their own ways. And as before, anyone holding bitcoin at the time of the split should get the equivalent in Bitcoin Gold, for free. As usual, the split comes with a degree of rancor. Soon after the Bitcoin Gold fork occurred, its websitecame under a distributed denial-of-service attack The creation of Bitcoin Cash was intended as a solution to bitcoin’s scaling problems, so what’s the deal with Bitcoin Gold? The new version has a different goal: to re-decentralize the mining of bitcoin. While bitcoin started out as something that many people could “mine”—with their computers racing against others to be the first to verify blocks of transactions—it can these days only be mined by someone with warehouses full of specialist equipment. This leaves the profitable activity in the hands of a relatively small group of players, and the people behind Bitcoin Gold (BTG) want regular people to be able to play again. The forked Bitcoin Gold system will therefore use a different “proof-of-work” block-verification algorithm that’s friendlier to the kinds of graphics processing units (GPUs) that regular people can buy. The code for mining Bitcoin Gold will come out in November, at which point people can start mining the new coin, and those who had regular bitcoins on Tuesday will get the equivalent in Bitcoin Gold. That is, if their exchanges and wallet services support the new cryptocurrency. Late last week, Coinbasesaidit won’t support Bitcoin Gold for now “because its developers have not made the code available to the public for review.” Some, such as BitBay and Coinomi, have said they’re on board with Bitcoin Gold. Others are keeping a cautious eye on developments. One wallet service, Uphold,saidit will “conduct an operational and security review of the new coin” once the code is out. “Once exchanges open to supporting BTG and the liquidity of BTG stabilizes, we will then provide updates when it will be offered for use on our platform and allocation of Bitcoin Gold to eligible members,” it said. Time will tell as to whether Bitcoin Gold ends up being a significant player. In August, Bitcoin Cashstarted tradingnot much above $200 per coin, and at the time of writing it’s worth $327. Bitcoin itself has almost doubled in value over the same period. That said, bitcoin took a bit of a dip following the Bitcoin Gold split, falling as low as $5,374 before recovering to $5,580 (at the time of writing). Some analystshave suggestedthis was because certain investorsbought into the systemjust before the fork, in order to get as many BTG coins as they could when the fork occurred, then sold their bitcoins afterwards. || Make the Right Call and Buy Micron Technology, Inc. Stock: Whether a secondary offering of shares from a publicly traded company is a good thing or a bad thing is often a matter of perspective. In the case of Micron Technology, Inc. (NASDAQ: MU ) though, its recently announced fund-raising sale of new shares is mostly being treated as a bullish development rather than a transaction that just divvies up its success among more shareholders. mu stock Source: Shutterstock The initial response to the MU stock news was concern. To be fair, with Micron stock sliding a tad lower as investors feared the adverse per-share impact . With some time to think about it though, it didn’t take traders long to fall back in love with this maker of computer memory chips. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Traders made the right collective call. The Latest MU Stock News: Secondary Offering Underway Though whispers of a stock issuance have been floating in the market’s ether for a while, the company confirmed it earlier this week, announcing it would sell $1 billion worth of new MU stock and use the proceeds primarily to pay down debt. Given the not-so-horrible response to the news though (the MU stock price barely even blipped before staging a recovery effort), Micron has since opted to seek a total of $1.2 billion . All told, $438 million of the company’s debt with a hefty interest rate of 7.5% is going to be paid off. The rest of the proceeds will be put into the general fund for the company to use when and how it sees fit. There are two sides to every coin, of course, and there’s no such thing as a free lunch on Wall Street. Credit Suisse analyst John Pitzer, for instance, notes that even the relatively small secondary offering will somewhat dilute the $8.00 per-share profit for 2018 he’d been modeling. 5 Bitcoin Stocks to Buy for Low-Risk Cryptocurrency Profits Even the analysts are mixed as to the potential upside and downside of the new shares, however. KeyBanc Capital analyst Weston Twigg acknowledged the injection of more than 29 million shares of MU stock could shave 15 cents per share, give or take, off of its annual earnings. But eliminating a wide swath of the company’s expensive debt could add another 18 cents to 23 cents per share back to Micron’s annual bottom line. Wells Fargo’s David Wong also suspects the offering will ultimately create a net benefit of five cents per share for the annual bottom line. Story continues That said, even Pitzer wasn’t swayed enough to alter his “Outperform” rating for Micron. His MU stock price target of $50 was also unchanged in the wake of the news. A Big Opportunity While observers from both sides of the bullish/bearish spectrum will use the newly-offered MU stock news to bolster their particular case, the matter can be boiled down to its truth with one simple question. That is, can a company that’s collecting fresh investor funding do something productive with that cash that couldn’t be done otherwise? For Micron, the answer is yes. While the computer memory industry has been through a couple of notable boom-bust cycles, the bust that was supposed to take shape by now just hasn’t happened yet. DRAM memory chip prices have not only remained firm, they’re still on the rise well beyond expectations from just a few months ago. While NAND prices haven’t been quite as heroic, they’re projected to be no worse than flat for the foreseeable future , if they don’t edge slightly higher. Though PC shipments continue to fall, logging a twelfth-straight quarter of declining year-over-year shipments in the third quarter of this year, DRAM memory is becoming the standard for the surviving piece of the PC industry. Meanwhile, demand for NAND memory (you know it better as flash memory, or solid state drives) remains firm as it too is becoming the new norm. The rise of portable electronics has also been supported by (and driven by) flash memory, which require a minimal amount of power and very little room for a lot of storage. That tide isn’t apt to turn anytime soon, and so far, there’s no glut on the horizon. Indeed, if anything, there’s a shortage, as besides Micron only K Hynix (OTCMKTS: HXSCL ) and Samsung Electronics (OTCMKTS: SSNLF ) are left as serious DRAM providers. And, interestingly, Micron has already quietly been gaining market share from the other two players. Although Micron has not said what it has planned for the remainder of the proceeds to ensure it will keep or even expand its memory market share, after the new shares are sold, the company will have nearly $5 billion in the bank. It will pretty much be able to do whatever it wants to do in order to hold or continue gaining market share. Bottom Line for Micron Stock In the wake of the 140% runup we’ve seen in the MU stock price over the course of the past twelve months, recent MU stock news headlines about the potential dilution could easily lead an investor to believe the long-awaited profit-taking catalyst may finally be here. In this case though, no such catalyst may be in the cards. The forward-looking P/E of 6.2 is not only cheap, but plausible. Even with more dilution than the coming 29 million shares might create, there’s still a ton of value packed into this stock. As of this writing, James Brumley did not hold a position in any of the aforementioned securities. You can follow him on Twitter . More from InvestorPlace 7 Spinoff Stocks That Could Be Better Than Their Parents 5 Best Technology ETFs to Beat the Market in 2018 10 Smart Money Stocks to Sell for 2018 The post Make the Right Call and Buy Micron Technology, Inc. Stock appeared first on InvestorPlace . || You've Got to See What the CEOs of JPMorgan Chase and Wells Fargo Just Said About Bitcoin: To put it mildly, cryptocurrencies are redefining "investment gains" for folks in 2017. Whereas the stock market has traditionally returned 7% a year, inclusive of dividend reinvestment, the aggregate value of more than 1,100 digital currencies has increased from $17.65 billion to begin the year to $167 billion as of Oct. 18. You know, just your standard 846% gain in a span of nine-and-a-half months. Leading the charge higher has primarily been bitcoin and ethereum, the largest and second largest cryptocurrencies by market cap. Bitcoin's value has more than quintupled year to date, with its market caprecently approaching $100 billion. For context, bitcoin was valued closer to $3 billion just two years ago. Meanwhile, ethereum is up more than 3,800% since the beginning of the year. Combined, ethereum and bitcoin make up $123 billion of the aforementioned $167 billion in digital currency market cap. Image source: Getty Images. There are a number of reasons investors have been excited about bitcoin and cryptocurrencies as a whole. To begin with, there's the blockchain technology that underlies most virtual currencies. Blockchain is the digital and decentralized ledger that records transactions without the need for a financial intermediary such as a bank. Because these are usually open-source networks, altering data within blockchain would be almost impossible to do. Thus, blockchain could be the next-generation platform for secure peer-to-peer and business-to-business transactions. A falling dollar has also lent to bullish moves higher in digital currencies -- especially bitcoin. When the U.S. dollar falls, investors holding cash will often seek a safe-haven asset like gold. Gold and the dollar have historically moved in opposite directions, and gold is a finite resource, making it a perfect store of value. In other words, what gold is on the planet right now is all there will ever be, unless we figure out a way to mine asteroids or foreign planets. Bitcoin shares this perceived scarcity with gold, given that its protocols limit the number of minable coins to 21 million. In effect, bitcoin has been a go-to safe-haven asset of late. We also shouldn't overlook the power of momentum in pushing the price of bitcoin and other digital currencies higher. The gains in cryptocurrencies can aptly be described as once in a lifetime, so it's possible that investors simply fear missing the boat if they don't buy in now. Image source: Getty Images. But not everyone is a fan of bitcoin and the digital currency movement. This past week, the CEOs of the largest and third largest money center banks in the U.S. voiced their opinions on bitcoin, and you simply have to see what they said. The most recent interjection came fromWells Fargo(NYSE: WFC)CEO Tim Sloan, who, when questioned about bitcoin by CNBC, said that "in terms of it as a cryptocurrency, I'd probably rather own a dollar than a dollar of bitcoin." Of course, that's just a tiny slap compared to whatJPMorgan Chase's(NYSE: JPM)CEO hassaid about bitcoin. In September, Jamie Dimon called bitcoin a "fraud" and suggested he'd "fire in a second" any of his investment employees who were actively trading bitcoin. Last week, Dimon was at it again while taking questions from a moderator at an Institute of International Finance conference. Said Dimon: If you're stupid enough to buy it [bitcoin], you'll pay the price for it one day. The only value of bitcoin is what the other guy'll pay for it. Honestly I think there's a good chance of the buyers out there are out there jazzing it up very day so that maybe you'll buy it too, and take them out. What is noteworthy, though, is that while both men could care less for bitcoin the virtual currency, they both appreciate the blockchain technology that underlies cryptocurrencies. "I think in terms of the underlying technology, it's very interesting. Distributed ledger technology is very interesting in terms of how it can be applied to all sorts of products and services within financial services," Sloan said. Similarly, Dimon has said he believes the underlying blockchain technology is valid, but he has no interest in the non-fiat digital coins. Image source: Getty Images. While you could construe the comments of big-bank CEOs as blunt and opinionated, one factor that can't be spun is just how exposed digital currencies are to competition. Right now, bitcoin and ethereum are sort of a one-two punch in terms of popularity. Investors have latched on to bitcoin as a payment platform, although recent software upgrades to its blockchain are designed to attract big businesses. Meanwhile, ethereum derives its valuation from the potential for its blockchain. More than 150 organizations, includingnine brand-name companies, are testing a version of ethereum's blockchain in pilot and small-scale projects. But none of these technologies is protected or guaranteed to remain popular. For instance, six banking giants, includingCredit SuisseandBarclays, recently joined a projectUBSbegan in 2015. These banks are working on technology that'll allow for the clearing and settling of transactions worldwide over blockchain. This partnership also comes with its very own digital coin, which is being called the "utility settlement coin." The point is that all it really takes is some time and capital, and anyone can be a blockchain player. There's nothing particularly unique at all about bitcoin, other than its current size, that could keep a consortium of companies from dethroning it with superior blockchain technology Now that's a real-world concern that should have bitcoin investors seriously worried. 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 • 3 Growth Stocks at Deep-Value Prices • NVIDIA Scores 2 Drone Wins -- Including the AI for an E-Commerce Giant's Delivery Drones Sean Williamshas 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)] #bitcoin non si ferma più? Analisi tecnica || Blockchain humblebundle via /r/ethereumhttp://ift.tt/2zdEvma  || $BTC --- FINALLY!!!!!!!!!!!!! keeping $BTC from $3640.00 US this time GO! GO! GO! https://twitter.com/BTCpx/status/913071484171685888 … || #Putin Tells Central Bank Not to Create Barriers to #Cryptocurrencies || Bitcoin: $3827.57 Ethereum: $270.05 BitcoinCash: $476.38 Ripple: $0.197443 Litecoin: $60.00 || #bitcoin non si ferma più? Analisi tecnica || https://www.coindesk.com/price/  Bitcoin 1 year trend ($635.00 to $5,697.00) || Current price of $BTC is $3850.00 via Chain #bitcoin #btc || $AMP Signal Result Time:2017-09-20 00:48:27 GMT Price:0.00004729 Potential Profit/Loss 1h: 4.67% 3h: 4.67% 6h: 4.67% $btc || #bitcoin non si ferma più? Analisi tecnica
Trend: up || Prices: 7144.38, 7459.69, 7143.58, 6618.14, 6357.60, 5950.07, 6559.49, 6635.75, 7315.54, 7871.69
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 2020-05-20] BTC Price: 9522.98, BTC RSI: 59.69 Gold Price: 1750.60, Gold RSI: 59.89 Oil Price: 33.49, Oil RSI: 61.66 [Random Sample of News (last 60 days)] Into the Unknown: No Limit on Fed Money Injections: The Federal Reserve pledged Monday to buy bonds in an unlimited quantity while allocating at least $300 billion to new emergency-lending programs. These measures are being taken as Wall Street reels from fresh predictions of a steep drop-off in economic output due to coronavirus-related lockdowns, business disruptions and job losses. “The coronavirus pandemic is causing tremendous hardship across the United States and around the world,” the central bank said in a statement on its website. “Aggressive efforts must be taken across the public and private sectors to limit the losses to jobs and incomes and to promote a swift recovery once the disruptions abate.” The expanded liquidity injections signaled the Fed’s willingness to go beyond even the already-dramatic steps taken in recent weeks to keep traditional Wall Street stock and bond markets from convulsing. In a previously unscheduled meeting on March 15, policymakers led by Chair Jerome Powell slashed short-term interest rates close to zero, just days after pledging to inject $1.5 trillion into the financial system via short-term loans to Wall Street dealers. Related: ‘Digital Dollar’ Stripped From Latest US Coronavirus Relief Bill The latest announcement, made early in the U.S. day, came after overnight trading in Asian markets and futures contracts were indicating the S&P 500 Index was headed for another steep drop. Investor confidence was further eroded by U.S. lawmakers’ failure to reach agreement late Sunday over a proposed $1.8 trillion aid package. Yet, even with the latest pledge of support from the Fed, the S&P 500 was down about 2.8 percent in early trading on Monday. Bitcoin (BTC), viewed by some cryptocurrency investors as a hedge against the inflationary pressures from central bank money-printing, climbed 7.3 percent to a price of $6,272 as of 13:31 UTC (9:31 a.m. in New York). The move trimmed bitcoin’s year-to-date loss to 13 percent, less than half of the S&P 500’s 31 percent loss so far in 2020. Story continues Using the 2008 playbook With the new round of emergency-lending programs, the Fed has now undone nearly all of its efforts to “normalize” financing conditions following the unprecedented actions taken during the 2008 financial crisis. In that era, the Fed also cut rates close to zero and provided some $1.2 trillion of secret emergency financing to the world’s largest banks , on top of the $700 billion Troubled Asset Relief Program (TARP) bailout package approved by lawmakers. Related: Alleged Architects of $720M BitClub Ponzi Request Jail Release Over Coronavirus Risk In Monday’s statement, the Fed said new emergency-financing programs of up to $300 billion would support borrowing by employers, consumers and businesses. The Treasury Department will provide $30 billion of equity for the new programs, indicating taxpayers would take the first hit from any defaults before the central bank suffered any losses. See also: Unlimited QE and Why Markets Can’t Price In COVID-19 The Fed also said it would start buying bonds backed by commercial mortgages as part of a previously announced pledge to purchase Treasury bonds and residential mortgage-backed securities . Previously the central bank had allocated $700 billion to the asset purchases, but those purchases now will be made “in the amounts needed to support smooth market functioning,” according to the statement. And in keeping with Powell’s recent pledge to use emergency programs hatched during the 2008 financial crisis, the central bank rolled out a series of lending initiatives to support bonds backed by student loans, auto loans, credit card loans, small business loans and “certain other assets.” New credit facilities A new Primary Market Corporate Credit Facility, or PMCCF, will be set up to help finance new bond and loan issuances. A Secondary Market Corporate Credit Facility will provide liquidity for outstanding corporate bonds. “The PMCCF will allow companies access to credit so that they are better able to maintain business operations and capacity during the period of dislocations related to the pandemic,” the central bank said. The program will provide four-year loans, and borrowers may elect to defer interest and principal payments during the first six months, extendable at the Fed’s discretion. A recently revived fund to support money-market mutual funds will now include bank certificates of deposit and a special type of instrument known as “variable-rate demand notes” used to provide financing to municipalities. The Fed added that it would “soon” establish a Main Street Business Lending Program to support lending to small and medium-size businesses. The Fed’s monetary-policy committee, consisting of presidential appointees and a selection of the top executives of the central bank’s regional branches, is set up as an independent government entity with so-called lender-of-last-resort powers. That means it has the wherewithal to provide freshly printed money to banks when other funding sources dry up. The Fed committee typically meets in secret, with full transcripts of meetings released only years afterward. The structure gives the central bank leeway to act quickly to provide stimulus, though it also opens up policymakers to after-the-fact scrutiny and criticism — including suggestions large-scale money-printing might eventually stoke runaway inflation. Treasury Secretary Steven Mnuchin said in a separate statement he authorized the new Fed emergency-lending funds along with the expansion of the previously announced programs. “This administration is working with the Federal Reserve and will continue to take aggressive action to address liquidity issues,” Mnuchin said. Related Stories Bitcoin Marches on $7K as Traditional Markets Cheer Fed’s QE ‘Bazooka’ Bitcoin and Gold: Evaluating Hard-Cap Currencies in Times of Financial Crisis || Oil’s Been More Volatile Than Bitcoin for Nearly 2 Months, Data Shows: Since oil futures crashed earlier this week – some hitting negative prices for the first time ever – the crypto world has been enjoying the fact that bitcoin suddenly appeared to be a relatively stable asset. Markets were shocked when the May futures contract on the West Texas Intermediate (WTI) crude, the main oil benchmark for the U.S., crashed Monday on fears arising from massive oversupply due to the effects of the coronavirus measures. A day later, the June contract tumbled more than 43 percent to a 21-year low of $11.57 a barrel. Bitcoin , though, barely flinched and held within its recent trading range between $6,400 and $7,400. Related: Market Wrap: Bitcoin Steady at $7.5K as Short Sellers Back Off But, according to data from CryptoCompare , bitcoin has outshone oil for far longer than just a few days when it comes price stability. In fact, “black gold” first started showing greater volatility – that is, the degree of fluctuation in the price of an asset – in early March, and has largely remained higher in April. CryptoCompare graphed 14-day rolling volatilities for oil, bitcoin, gold and the S&P 500. A volatility above 5 percent for 14 days translates to 25 percent or more on an annualized basis. “The more volatile, the bigger the percentage move, the riskier the asset (regardless of the direction),” the firm told CoinDesk in an email. While bitcoin was the “riskiest” – most volatile – asset of the four contenders at the start of the year, in early March, oil surged to levels above 0.10, and even as high as 0.15 later in the month. Related: Why Global Deflation May Not Be Bad News for Bitcoin “As the year progressed, the disagreement between OPEC and Russia , coupled with negative demand shock caused the oil price to collapse, making it riskier than bitcoin,” said James Li, analyst at CryptoCompare. Bitcoin’s volatility surge came soon after and is likely associated with the “Black Thursday” crash on March 12, which saw the cryptocurrency plunge to as low as $3,867 as all markets suffered from coronavirus-related shocks. Story continues While both assets have since seen volatility drop, it doesn’t appear oil’s price gyrations have come to an end yet. “Without any significant catalysts for demand, there’s nowhere to put oil,” said Daniel Masters, chairman of CoinShares, a U.K.-based digital asset management firm. Continued problems with the oil futures market could be on the horizon because of there’s a shortage facilities for oil, according to Masters. “The worst isn’t over yet, the May contract just got rolled into June this week, and when June contracts expire, it will be absolute carnage.” The June WTI contract is currently trading at about $16.60. See also: Coinbase Launches Price Oracle Aimed to Reduce Systemic Risk in the DeFi Space So what’s the safe haven in the storm of volatility? Gold is the least volatile of the four assets compared, according to the chart, never crossing 0.05. CryptoCompare’s Li is concerned even cash may prove inflationary given the massive stimulus efforts so far. And it appears more is on the way in the U.S. after the Senate passed another stimulus bill later approved by the House of Representatives . If signed by President Trump, it will pump billions of dollars more into the economy. “Under these circumstances, we may see a shift to assets that cannot be perpetually diluted instead of papering over the cracks. For the moment cash is the only port in the storm, but that may prove to be a false hope in the mid to long term,” said Li. Related Stories First Mover: Bitcoin Jumps as Fed Assets Top $6.5T and Traders Focus on Halving Coinbase Launches Price Oracle Aimed at Reducing Systemic Risk in the DeFi Space || Zoom Has Privacy Issues, Here Are Some Alternatives: Zoom, the popular-by-necessity video conferencing platform, has seen an explosion in users as the coronavirus pandemic forces people to work from home. In a recent blog post , CEO Eric S. Yuan said Zoom now has 200 million users, up from just 10 million last December. But, with that increase in users has come greater scrutiny of Zoom’s privacy and security. With widespread reports of Zoombombing (where strangers dial in your channel with something rude and disruptive), the company’s procedures have been called into question by the New York Attorney General, and prompted a class-action lawsuit. The New York’s Attorney General said he is “concerned that Zoom’s existing security practices might not be sufficient to adapt to the recent and sudden surge in both the volume and sensitivity of data being passed through its network.” Related: Private Companies Could Play Role in CBDC Issuance, Bank of England Says Until recently, Zoom’s iPhone app included software that surreptitiously funneled user data to Facebook. The lawsuit says the code allowed Facebook to target users with ads. Zoom has been criticized for ignoring privacy before. A year ago, a researcher found four million Zoom user cameras were potentially vulnerable to remote takeover without you knowing. The company is currently pausing all feature development and “shifting all our engineering resources to focus on our biggest trust, safety and privacy issues,” Yuan said. But for many users, this isn’t good enough. They’ve already lost trust in Zoom and are searching for alternatives (which we identify below). “Despite its ease of use, Zoom does not seem to take privacy seriously,” said Reuben Yap, Zcoin Project Steward. “Despite claims that Zoom’s video calls are [end-to-end] encrypted, this isn’t actually the case . E2E encryption means that even Zoom should not be able to view the contents of the videos or calls.” Related: Bitcoin’s Future: Exactly How a Coming Upgrade Could Improve Privacy and Scaling Story continues “Instead, all Zoom provides is transport encryption, meaning that it is secured to the extent that outsiders cannot intercept the call and view it. This still means that we have to trust Zoom to not read or leak this info. Given its track record, I don’t have high hopes,” Yap said. Yoav Degani, the founder of MyPrivacy, an app that bundles privacy protection tools such as a VPN and a password manager, said there are several privacy and security issues with Zoom. Because meetings can be recorded and uploaded to the cloud, which is not secured, people who are not on the meeting can get a recording (like your boss for example). Also, organizers can receive a text file with the transcript of the meeting chat. “There’s also a feature available to the meeting’s host called attendee attention tracking,” said Degani. “It allows the host to monitor participants’ computers and see if someone is not active in the Zoom call for more than 30 seconds.” See also: How to Protect Your Online Privacy While Working From Home You may not be officially active if, say, you put the Zoom window in the background and play some game or read some post on Facebook. Degani said some bad guys are taking advantage of the situation and there are dozens of websites with the name “Zoom” that all of a sudden appear in search results and advertising and are used for phishing. Locking down your video Several people who build and develop privacy-oriented tools recommend Jitsi as a more secure alternative to Zoom. Emil Ivov, one of the founders of Jitsi, said what sets it apart from other video conferencing services is its low friction. Creating a meeting is as simple as typing your name in, and it’s just one click to join. The company uses WebRTC, or Web Realtime Communications, which enables peer-to-peer video, data and audio communication between two web browsers. So on desktops there are no downloads and no accounts needed, said Ivov. “We are really mindful about privacy and security,” said Ivov. “We require no personal data and fully support anonymous use. We are also open source. This is where we are truly unique. If you have any concerns about how we run our service, then you can just go and run your own! It only takes 15 minutes.” Being open source also means anyone can scrutinize its software. But Jitsi does not feature end-to-end encryption. “For now this is simply not possible with WebRTC, although the whole community is looking into the problem and we are hoping there will soon be solutions,” said Ivov. “For the time being, however, all your data is encrypted in-flight using DTLS-SRTP [a protocol which adds encryption and ensures message authentication and integrity] as per the WebRTC standard. None of your media content leaves your computer unencrypted.” Jitsi is one more secure alternative, and another includes Whereby . One big drawback: Users are limited to four meeting participants in the free version. The Pro version of Whereby is $9.99 per month, and allows up to 12 participants per room in up to three meeting rooms. Other one-to-one alternatives include Facetime, which does have end-to-end encryption, as does Signal, the privacy-focused messaging and call app. “Products and services can be built to be both convenient and to protect privacy by design at the back-end,” says Raullen Chai, CEO of IoTeX, a Silicon Valley company that develops privacy-protecting smart devices. “Then you don’t have to worry about whether or not you trust a centralized party because it is built in what can and can’t happen with your data, returning control to the consumer. Blockchain-based key issuance allows for true end-to-end encryption without having to trust a central provider to not keep a key for themselves.” Take all this into account, and it’s just one more indicator that yes, that meeting could probably be an email. As long as it’s one sent securely, that is. Related Stories How to Protect Your Online Privacy While Working From Home P2P Exchange Hodl Hodl Takes First Step in Bringing Private Bitcoin Trades to BlueWallet Users || Why Global Deflation May Not Be Bad News for Bitcoin: Contrary to expectations, bitcoin could see a positive performance during a possible bout of global deflation if it acts not just as an investment asset, but as a medium of exchange and a perceived safe haven like gold. The top cryptocurrency by market value is widely considered to be a hedge against inflation because its supply is capped at 21 million and its monetary policy is pre-programmed to cut the pace of supply expansion by 50 percent every four years. As such, one may consider any deflationary collapse as a price-bearish development forbitcoin. Talk of deflation began earlier this month after the U.S. reported massive job losses due to the coronavirus outbreak. The prospects of a deflationary collapse have strengthened with this week’soil price crash. Related:Bitcoin Hits Highest Level Since Black Thursday Amid Halving Buzz “The oil price rout will send a deflationary wave through the global economy,”tweetedpopular macro analyst Holger Zschaepitz on Tuesday. Read more:First Mover: What the Oil Price Collapse Means for Bitcoin’s Halving Valuation Cash typically becomes king during deflation because the drop in the general price levels boosts the monetary unit’s purchasing power, or the ability to purchase goods and services. “Unlike inflation, when people try to get out of the dollar because it’s losing value, during deflation people are more comfortable with the dollar because its value is going up,” said Erick Pinos, ecosystem lead for the Americas at the public blockchain and distributed collaboration platform Ontology. Related:First Mover: Ether Trounces Bitcoin as Network Sees Surge in Stablecoins The rush for cash, however, may not have a substantially negative impact on bitcoin’s price because deflation would also boost the purchasing power of the cryptocurrency. “While the price per coin may stagnate during a period of aggressive economic deflation, the inherent buying power of the currency will actually rise, possibly quite significantly,” said Brandon Mintz, CEO of the bitcoin ATM provider Bitcoin Depot. As time goes on and people become more comfortable with digital assets, the average person begins to see Bitcoin as a legitimate viable alternative to gold. The uptick in the purchasing power will likely draw greater demand for bitcoin, as the cryptocurrency is already used as means of payment. “Hundreds of thousands of businesses, brands and merchants do accept the ‘digital gold’ as payment, and thousands more every day are realizing the benefits of diversifying their revenue stream and accepting bitcoin as payment for their goods and services,” said Derek Muhney, director of sales and marketing at Coinsource, the world’s leader in Bitcoin ATMs. Moreover, the cryptocurrency’s appeal as a medium of exchange is likely to continue strengthening with the growing prevalence of technology in consumers’ everyday lives caused by the coronavirus pandemic. Ever since its inception, bitcoin has been dubbed “digital gold.” Like the yellow metal, the cryptocurrency is durable, fungible, divisible, recognizable and scarce. Both assets share features that fulfillAristotle’s callfor a currency to be practical and functional. Bitcoin has actual utility as the means of payment, which gold lacks, according to Coinsource’s Muhney. “As time goes on and people become more comfortable with digital assets, the average person begins to see Bitcoin as a legitimate viable alternative to gold. Thus, it’s reasonable to assume that during a period of deflation bitcoin would perform well like gold has in the past,” said Eric Pinos, America’s ecosystem lead at the public blockchain and distributed collaboration platform Ontology. Read more:Looking for a Safe Haven Digital Asset? Try Gold Hence, gold’s performance during the previous bouts of deflation could serve as a guide for bitcoin investors. Historical datashowsgold performs well during deflation, which includes a sharp rise in financial stress and increased risk of corporate defaults; highly levered companies tend to go bust during deflation because their revenues fall while their debt service payments remain the same. Of course, gold’s shine is particularly bright during periods of inflation as well. As in periods of sizable deflation, inflation brings a set of price distortions that shake-up income statements and economies. A commonly-used measure of stress is the “Ted spread” or the difference between the three-month U.S. interbank rate and the three-month T-Bill rate. “Massive spikes in the Ted spread in the 1970s were accompanied by a sharp rise in gold. The Ted spread also rose sharply in the early 1980s; in 1987 in the wake of the stock market crash and during the global financial crisis of 2007-2009 – both also periods of stronger gold prices,”according toOxford Economics’ research note. The real or inflation-adjusted price of gold rose an average 33 percent per annum in the 1970s, 18 percent in 1980s and 15.8 percent in 2000. Underscoring all of the scenarios is that a sudden rise in economic stress usually fuels a global dash for cash, forcing investors to sell everything from stocks to gold. However, once economic uncertainty starts settling, people again start looking for safe havens. “During the Great Recession, while gold initially declined alongside other equities, it found its footing and rallied faster than stocks recovered,” Ontology’s Pinos told CoinDesk. The Ted spread spiked as high as 4.6 following the collapse of Lehman Brothers in August 2008. Gold fell from $920 to $680 per troy ounce in the August to October period, as investors treated the yellow metal as a source of liquidity, but still ended that year with 5.5 percent gains. More importantly, it rallied by 24 percent in 2009 and went on to hit a record high above $1,900 in 2011. Read more:First Mover: Bitcoin Jumps as Fed Assets Top $6.5T and Traders Focus on Halving The yellow metal’s recent price gyrations suggest history may be repeating itself. As the Ted spread rose from 0.11 to 1.42 in the four weeks to March 27, gold fell from $1,700 to $1,450 yet is now trading near $1,725 per ounce, having hit a 7-year high of $1,747 ten days ago. Bitcoin, too, was treated as a source of liquidity last month, as evidenced from the near 40 percent drop to levels under $4,000 seen on March 12. Since then, however, the cryptocurrency has risen by nearly 85 percent to $7,500. If gold’s historical data and the recent market activity is a guide, then the path of least resistance for bitcoin appears to be on the higher side. Both the U.S. government and the Federal Reserve have unleashed massive amounts of liquidity into the system over the past few weeks to contain the economic fallout from the coronavirus pandemic. Notably, the Fed is running an open-ended asset purchase program and its balance sheet has already risen to record highs above $6.5 trillion. Meanwhile, central banks from New Zealand to Canada have slashed rates to zero and have recently announced bond purchase programs. What’s more, the amount of fiscal stimulus announced by 22 countries in March is equivalent to 75 percent of the global gross domestic product (GDP),according toJPMorgan. However, most governments and central banks appear to have run out of ammo. Hence, if the coronavirus pandemic continues to spread or leads to corporate defaults, investors may lose trust in traditional finance and look for alternatives like bitcoin and cryptocurrencies in general. Moody’s Analyticsrecently warnedof the heightened risk of corporate defaults in the oil and gas sector across the globe, and weakness in entertainment and leisure giving way to pressure on consumer durables. “The willingness to fight deflation should bode well for bitcoin,” said Richard Rosenblum, head of trading at GSR. Meanwhile, Ashish Singhal, CEO and founder of the cryptocurrency exchange Coinswitch.co, said, “In a deflationary scenario, the chances of negative interest rates are high, and users would want to move their existing assets into more stable assets like bitcoin to prevent loss in their asset value.” Interest rates are already set below zero across Europe and in Japan and are hovering at or near zero in other advanced countries. Further, with central banks willing to do whatever it takes to defeat deflation, the real yield or inflation-adjusted returns on bonds are likely to remain negative or meagerly positive at best. As a result, zero-yielding assets like gold and bitcoin may attract more buyers. Bank of America’s analystsnotedearlier this week that the stimulus frenzy amid the coronavirus pandemic would put pressure on the currencies and send gold to $3,000 by October 2021. While bitcoin could perform well during deflation, bitcoin and cryptocurrencies have seldom tracked macro developments on a consistent basis in the past. “Blockchain-based currencies are really their own beasts,” said Bitcoin Depot CEO Brandon Mitz. • Market Wrap: Bitcoin Steady at $7.5K as Short Sellers Back Off • Oil’s Been More Volatile Than Bitcoin for Nearly 2 Months, Data Shows || Crypto Long & Short: The Battle of the Yields: “Cash is trash” has a nice rhyme to it, and in some inflation-ravaged, paper-based economies it’s literally true. But as an investment mantra it bears some scrutiny, especially in light of what it says about bitcoin. When a multi-asset manager such as Ray Dalio uses that phrase, as hedid in Davosearlier this year, we can assume he means cash is not as attractive for portfolios as other assets. He expanded further on this in aquestion-and-answer session on Redditearlier this month, pointing out its “costly negative return.” You’re readingCrypto 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:Bitcoin Volatility at 3-Month Low as Market Awaits Big Price Move This warrants further clarification, as the actual yield on cash is a complex subject. The cash under your mattress does not earn any interest and has a theoretical storage cost. (Even if there’s no direct outlay, there’s the cost of a lack of solid rest due to bumpy sleep surfaces.) And there’s the opportunity cost – just think of all the potential returns you’re forgoing by not investing in stocks or bonds (oh wait…). The cash in your bank account is also unlikely to produce meaningful income. And we now have the very real possibility that banks will start to apply negative rates to cash holdings, as part of a mandated strategy to stimulate spending. (Note that I’m not saying I agree with this rationale, just that it’s often trotted out. There’s an opportunity cost tonothaving cash around as well. And manyrenowned investorsare flush with cash, preferring to have “dry powder” for when opportunities arise.) A bigger-picture way to look at cash returns is the real yield, which incorporates inflation. We are already seeing a dip in inflation as spending plummets due to lockdowns, but once economies re-open and the stimulus checks are used to purchase everyday items made relatively scarce by supply chain constraints, inflation is likely to edge or even surge upwards. Related:Russians Withdrew a Year’s Worth of Cash in a Month Over Coronavirus Fears This will push real yields on cash well into negative territory. Then, cash will indeed be “trash.” But at least its negative territory will be stable. Let’s look at the yield outlook for government bonds. Even before the Federal Reserve abruptly cut its benchmark rate to 0 percent last month, U.S. bond yields were heading down across all maturities. Other government debt either carries a negative return or default and currency risk. Corporate bonds offer higher yields, but a wave of defaults is more likely now than at any time in recent history. They don’t call it a risk premium for nothing. Stock yields, which have recently been even higher than bonds, are likely to head sharply down as dividends are cut across the board. Two assets that aren’t looking at lower yields? Gold andbitcoin. Both are “real assets” in that they don’t have any income. Which means there’s no income to cut. Their value may go down as well as up but it will do so because of consensus market forces, not political interference or centralized decisions. This adds a new nuance to the use of the word “real.” Both gold and bitcoin can be influenced by political priorities and economic measures, but their intrinsic value cannot. And both gold and bitcoin are relatively liquid instruments with sophisticated derivatives markets. True, both are held in multi-asset portfolios valued in fiat currencies, and both largely depend on fiat currencies for their utility, for now. But of the two, only bitcoin can operate efficiently outside the fiat rails. Only bitcoin can be exchanged for other assets without going through a fiat conversion. For now, this feature is limited to crypto exchanges that let you buy other crypto assets with bitcoin. It’s a start, and as traditional and crypto capital markets gingerly approach each other it’s likely to spread. Admittedly, that will take time; meanwhile, the point is this: Unlike cash and securities, bitcoin is not vulnerable to centralized decisions on asset yields, and it can be used in a way similar to cash in asset purchases. It is the only quasi-cash equivalent that is resilient to the likely politicization of finance that results from the current ructions in markets and the broader economy. Cash may be dissed by some who believe that yields should be a fundamental investment consideration; but everything in the investment world is relative. We could see attention start to coalesce around a potential alternative – not to cash itself, but to the role it plays in asset allocations. Bitcoin is by no means a cash substitute, at least not yet. It will, however, become an increasingly intriguing alternative for some of cash’s applications. Markets were all over the place this week, with bitcoin dropping 8 percent between Monday and Thursday, only to rebound by almost 9 percent by Friday. The S&P 500 was also volatile, clocking in a second weekly gain in a row for the first time since February, in spite of yet another staggering jump in unemployment claims, the worst retail sales data since 1992, the worst New York state manufacturing data since WWII and a relentless climb in COVID-19 casualties. Maybe expectations arejust so badthat the actual news comes as a relief. Or maybe reality doesn’t matter anymore. I don’t know. Not to be left out, gold is also doing weird things, with the spread between the spot and futures price widening to its highest level in 40 years. The spot price reached its highest point in seven years, which is confusing given the strong performance of the main equity index. I really need to dig deeper into what the problem is, if any, with physical delivery. It was an intense week for significant (albeit unsurprising) developments in global stablecoins. The Facebook-backed Libra Project has pivoted from a multi-currency-backed global token to a wallet and blockchain forsingle currency stablecoinsas well as a multi-currency stablecoin-backed stablecoin (not a typo). The idea of a “digital dollar” to facilitate stimulus payments has been reintroduced in thelatest stimulus bill. And mycolleagues Wolfie Zhao and David Pan went deepinto the Chinese national blockchain platform with global ambitions that could significantly impact the digital currency plans of central banks around the world. Our chief content officer, Michael Casey, has launched a newsletter focused on the impact of these and other developments on our financial system. It’s called “Money Reimagined,” and it comes out on Fridays – youcan subscribe here, andread the latest issue here. (Nothing in this newsletter should be considered investment advice. The author holds a small amount of bitcoin and ether.) Renaissance Technologies’flagship Medallion fund isconsidering adding cash-settled bitcoin futuresto its holdings, according to a recent filing.TAKEAWAY:On the surface this may seem like a big deal: One of the world’s largest and best-known hedge funds (the Medallion fund has nearly $10 billion AUM and isup 24 percent so far this year) believes bitcoin is worthy of investment. But, digging a bit deeper, it’s not that at all. Renaissance is a quant firm, which means it does not pay attention to underlying stories. It cares about correlations. Bitcoin exposure does not mean the managers see bitcoin as a revolutionary idea worth betting on; it’s a number. Still, we should keep an eye on bitcoin futures volumes on the CME. Silicon Valley venture firmAndreessen Horowitzisaiming to raise $450 millionfor a second cryptocurrency fund, according to the Financial Times. Its first crypto fund raised $350 million in 2018.TAKEAWAY:This is a pretty sizable vote of confidence in the sector’s potential, and not just through venture support for promising crypto-related companies. The investment may end up having an impact on the market itself – last year the firm registered all employees as financial advisers, enabling the fund to invest directly in crypto assets. (You also might want tocheck out the company’s explanationof howcrypto business modelsare different from web business models. TL;DR: It’s not just the network effect that gives value, it’s also the ability to reward participation and redistribute economic value to participants in the network, creating a virtuous circle of increasing participation and value.) Researchers at the Kansas City Federal Reservepublished a paperaboutbitcoin’s correlation with bonds and equities, with some unexpected results.TAKEAWAY:This study is particularly interesting in that it differs from studies that look at overall correlations over time. This one isolates times of financial stress, when you arguably most need a safe haven, and it finds that during these times bitcoin acts more like a risk asset and has positive (yes, positive) correlations with the S&P 500. Marcel Burger gives usa good overviewof the evolution and current state of thecrypto derivatives market, and explains why settling in BTC while quoting in USD turns the P&L from linear to non-linear.TAKEAWAY:Yet another peculiarity of trading in the crypto market. Outside of the FX markets, most traders won’t be used to this risk shift. This could be one of the reasons that BitMEX’s liquidation engine gets so much exercise. (For more detail, see also our “Crypto Derivatives” report.) TradeStationis now offering crypto tradingvia an agreement withinstitutional-grade crypto exchange ErisX.TAKEAWAY:This in itself isn’t really news – TradeStation has been offering crypto trading for almost a year now, through its subsidiary TradeStation Crypto. What is surprising is the legacy financial firm (founded in 1982) is continuing to invest in crypto market infrastructure, even after the disruptions of March. Just being offered on TradeStation is not enough to boost investor interest in crypto assets – many investors will still be wary of the volatility and relative lack of liquidity. But the additional exposure, getting in front of its sizable client base, won’t hurt. The platform is even promoting crypto asset trading on its home page. According toanalytics firm Glassnode, theamount of bitcoin held on exchangesis at its lowest level since June 2019.TAKEAWAY:This could imply investors are moving their holdings off-exchange into custody, a sign selling pressure might be easing. In theory, you hold your bitcoins on an exchange if you are likely to want to trade them. If you’re planning on holding them for a while, you’ll probably move them to a safer storage. Grayscale Investments*released their Q1 figures, revealing over $500 million in new investment, with almost 90 percent coming from institutional investors.TAKEAWAY:The growth is impressive, but it is unclear how much of the increase comes from contributions in kind – a popular trade amongst professional investors is to exchange bitcoin for shares in the Bitcoin Trust and sell after the lockup period, pocketing the premium the trust traditionally commands in the market. The relative reliability of this return means that not all of the inflow growth is from institutional investors excited by the potential of the cryptocurrency market.*Grayscale Investments is a wholly owned subsidiary of CoinDesk’s parent, DCG. Greenidge Generation, an upstate New York power plant using proprietary facilities to mine bitcoin,has sold up to30 percent of its computing power to institutional buyers.TAKEAWAY:This came out last week after I had finished the newsletter, but is worth flagging anyway because I am convinced we will see more traditional companies adapting their current installations to generate additional income through cryptocurrency mining. Keep an eye on other electricity generators and also on the oil and gas industry, where a lot of energy currently goes to waste and could be monetized through mining rigs. This would be very good news for the sector, as it would further decentralize the infrastructure and embed cryptocurrency in more mainstream business settings. Shares of cryptocurrency mining firmHut 8 Mining Corp. (HUT)rose 32 percenton the Toronto Stock Exchange on Friday, on volume nearly eight times the daily average.TAKEAWAY:I don’t know what’s going on, but for perspective the shares are now back to where they were a month ago. The few listed shares with strong crypto exposure are worth keeping a close eye on not just as investment opportunities but also for what they teach us about sector economics. Mining companies are vulnerable to a sharp drop in revenue post-halving, but also stand to benefit from price upside. Leah Callon-Butler describes how COVID-19highlights a potential crypto-shaped lifelinefor citizens of thePhilippines, and how traditional finance organizations are getting involved.TAKEAWAY:For much of the world, the potential of bitcoin is not as an investment asset – it’s used as a payment method. This duality should produce some intriguing growth patterns over the coming years as both narratives move forward. After the spike resulting from the mid-March crash, thevolatility of the S&P 500has stayed high, while that of bitcoin has fallen.TAKEAWAY:This is true of the30-day volatility, but even so, bitcoin’s volatility is still higher than that of the S&P; longer term, the difference is even more apparent. Open interest inbitcoin futureson the CMEhave reboundedsince the March crash.TAKEAWAY:The levels are still low, and are not yet accompanied by noticeably higher trading volumes. They do, however, indicate a gentle recovery of investor confidence that the sharp volatility of mid-March is unlikely to return in the short term. Google searchesfor “Bitcoin halving”are shooting up.TAKEAWAY:Not a surprise, but it is indicative of an uptick in mainstream interest in bitcoin and, since we’re still a few weeks away, is likely to trend much higher (going by what happened in the last halving in 2016). Crypto Long & Shortis CoinDesk’s weekly newsletter with insights, news and analysis tailored for the professional investor.Subscribe here. • Hong Kong’s First Regulator-Approved Bitcoin Fund Targets $100M Raise • Bram Cohen: ‘Getting Rich Is a Terrible Metric of Success’ || DEADLINE TODAY: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against Canaan Inc. and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm: Los Angeles, California--(Newsfile Corp. - May 4, 2020) - The Schall Law Firm , a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Canaan Inc. (NASDAQ: CAN) ("Canaan" or "the Company") for violations of the federal securities laws. Investors who purchased the Company's securities pursuant and/or traceable to the Company's initial public offering ("IPO") on or about November 20, 2019, are encouraged to contact the firm before May 4, 2020. If you are a shareholder who suffered a loss, click here to participate . We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com , or by email at [email protected] . The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member. According to the Complaint, the Company made false and misleading statements to the market. Canaan claimed to engage in "strategic cooperation" which was really just a related-party transaction. The Company was in a weaker financial position than it reported. The Company removed many distributors immediately before the IPO, many of which were of dubious quality. Many of the Company's Chinese customers were not in the Bitcoin industry and were therefore not likely to buy its products again. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Canaan, investors suffered damages. Join the case to recover your losses. The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation. Story continues This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics. CONTACT: The Schall Law Firm Brian Schall, Esq., www.schallfirm.com Office: 310-301-3335 [email protected] SOURCE: The Schall Law Firm To view the source version of this press release, please visit https://www.newsfilecorp.com/release/55326 || Digital Custodian Anchorage Adds XRP Storage for Institutional Customers: Digital custody provider Anchorage has added custodial support for XRP, the company announced in a Thursday blog post. XRP(XRP) is the third-largest cryptocurrency by market capitalization, and is best known as the crypto used by Ripple for cross-border payments. Prior to Thursday, XRP was the only top-three cryptocurrency not supported by Anchorage, which specifically caters to institutional investors. Anchorage began supporting XRP on its website formally on Wednesday, its website showed. Related:Ripple Engineers Publish Design for Private Transactions on XRP Ledger “As the third-largest digital asset by market cap, XRP appeals to a number of our institutional clients, which include VC funds, family offices, hedge funds, and other large-scale crypto investors,” Diogo Monica, president of Anchorage said. See also:Amended Lawsuit Against Ripple Now Offers Theory That XRP May Not Be a Security In a press release, Anchorage said that “an ecosystem of institutions” are already holding XRP. XRP joins 18 other digital assets already supported by Anchorage. Monica said that Anchorage is willing to add custodial service for any digital asset that meets the bar. Related:Amended Lawsuit Against Ripple Now Offers Theory That XRP May Not Be a Security “Anchorage has always aimed to support every asset that meets our standards of quality and security, and XRP does both. Particularly during these uncertain times, we’re proud to be growing our list of supported assets and improving operational efficiency for our institutional clients,” he said. • Bitcoin and Ether Prices Stagnate as Traders Take Wait-and-See Approach • Bitcoin Ekes Out Gains but Remains in Red Amid Broader Market Rebound || Crypto Derivatives Platform Gets Nod From London Stock Exchange’s Software Tester: A crypto derivatives exchange has received a clean bill of health from the same software tester that vets the trading and settlement systems used by the London Stock Exchange (LSE). ZUBR, which only opened for trading in early March, said its trading software had been successfully stress-tested by Exactpro. The exchange’s high-frequency trading feature, risk management protocols and trading engine met requirements set by the software tester. “The testing included a few milestones, such as the analysis of documentation and requirements, the development of testing scenarios, multiple rounds of testing, risk assessment and recommendations,” said Alexey Zverev, Exactpro co-founder and director, in a statement. Related: Australian Crypto Exchange CoinSpot Wins ISO Security Accreditation ZUBR is a crypto derivatives exchange aimed at professional traders using algorithmic and high-frequency trading strategies. The platform offers perpetual contracts – futures with no expiry dates – for bitcoin (BTC) and ether (ETH) with up to 20 times leverage. Based in Gibraltar, the company is looking to become regulated in Europe, although a spokesperson declined to specify where. See also: Blockchain Arbitration Firm Proof of Trust Plans London Stock Exchange Listing Established in 2009, Exactpro has tested the LSE’s trading technology since 2010. It was acquired by the exchange group in 2015, but was subject to a management buyout three years later for undisclosed terms. “LSEG remains a substantial client of Exactpro and we continue to provide services following a multi-year master services agreement,” a spokesperson told CoinDesk. Speaking about the tests it performed for ZUBR, Exactpro concluded the exchange “met the requirements of a high-frequency trading venue,” with trade executing in microseconds even in high-demand simulations. Its risk management protocols meant the exchange could, subject to regulation, offer higher leverage options. Story continues Related: Binance Cut Leveraged Tokens Because Users ‘Don’t Read Warning Notices’ Exactpro recently expressed some skepticism about whether blockchain and distributed ledger technology (DLT) could replace existing financial infrastructure. Co-founder and co-CEO Iosif Itkin told CoinDesk that the technology was still very much at the prototype stage. See also: Retail Investors Aren’t Interested in Crypto Derivatives, Says eToro Executive ZUBR was the first cryptocurrency exchange assessed by Exactpro. The company said it would “continue to collaborate with [ZUBR] to ensure any new technical features are fully tested.” Related Stories Singapore Crypto Exchange Eyes US Expansion After Registering With FinCEN Users See ‘Buying Opportunity’ in Coronavirus Market Downturn, Says Crypto.com || BitMEX parent awards $100k grant to Bitcoin Core maintainer Michael Ford: HDR Global Trading Limited, the operator of cryptocurrency derivatives exchange BitMEX, has awarded $100,000 to Bitcoin Core maintainer Michael Ford. Michael Ford first started contributing to Bitcoin development in 2012 andbecamea Bitcoin Core maintainer in June 2019. HDR previously awarded him a 12-month$60,000 grantin May 2019. The new grant will replace the old funding arrangement and will support Ford’s work over the next 12-month period. Both grants were issued on a no-string-attached basis. “This reflects HDR’s continued support for Bitcoin development,” the company’s Tuesdayannouncementsaid. “We would like to emphasise that our commitment to open source Bitcoin development is for the long term and we look many years ahead when making these funding decisions.” Notably, HDR has alsomade a donationto the MIT Digital Currency Initiative in 2019 to assist the work of developers there, especially Bitcoin Core developers Wladimir van der Laan and Cory Fields. In addition to the new grant to Ford, HDR also released atemplate grant contractto ensure transparency and facilitate future grants. || The Week In Cannabis: Stocks Back Down, New Corporate Shakeups, M&A, And Policy Moves Around The World: Despite starting the week rallying, likely on the back of substantial short covering , cannabis stocks were back in the red this week, with all major ETFs closing the week lower than they had started it. These were their respective losses: ETFMG Alternative Harvest ETF (NYSE: MJ ): 2.94%. AdvisorShares Pure Cannabis ETF (NYSE: YOLO ): 1.3%. Cannabis ETF (NYSE: THCX ): 2.92%. Amplify Seymour Cannabis ETF (NYSE: CNBS ): 3.3%. Meanwhile, the SPDR S&P 500 ETF Trust (NYSE: SPY ) closed the period down 0.08%. The big story this week was the resignation of Hadley Ford, CEO of iAnthus Capital Holdings (CSE: IAN) (OTC: ITHUF ). The New York-based company announced its decision to replace Ford with Randy Maslow, who now serves as interim CEO, following a review conducted by a special committee of independent directors, which determined that Ford had “misused iAnthus' resources to his benefit.” Find all the details of this story on Benzinga. “Hadley Ford resigning from iAnthus this week was a sad turn of events. It came about after an online media company exposed some debt issues, which the company vehemently denied," Debra Borchardt, CEO of Green Market Report, told Benzinga. “Upon investigation, the company confirmed two of the three allegations. If a company can't protect its shareholders, it's up to the media to do so. Disclosure is always the best policy, even if the news is less than great.” Find our cannabis, hemp and psychedelics news in Spanish on El Planteo . Another big news item this week came out of Hightimes Holding Corp., which said it would acquire up to 13 California dispensaries from Harvest Health & Recreation (CSE: HARV) (OTC: HRVSF ) for $80 million. In other positive news, Santa Clara County, California, prosecutors are set to vacate or lessen more than 11,500 convictions for cannabis violations, after revising the list sent by the California Department of Justice. Mexican Sen. Julio Ramón Menchaca Salaza came out with strong declarations in support of legalizing recreational cannabis as a way to make up for some of the economic damage caused by the COVID-19 pandemic. “We have this opportunity and we are going to take advantage of it," Salaza said. The proposed bill would allow adults over 18 to possess and cultivate marijuana for personal use. Individuals could grow up to 20 registered plants as long as the total yield doesn’t exceed 480 grams per year. Medical patients could also apply to cultivate more than 20 plants. Personal possession would be capped at 28 grams, but possession of up to 200 grams would be decriminalized. Story continues In Michigan, the Supreme Court unanimously decided that municipalities can regulate and restrict where caregivers grow their cannabis for medical consumption. Previously, the Michigan Court of Appeals had ruled that the Medical Marijuana Act trumped, rather than complemented, local zoning restrictions. And, in New Zealand, a legal reform on cannabis was proposed. It will be voted on in a national referendum, along with the general elections and referendum on Euthanasia. This reform promises to lead the international legalization movement by proposing a series of highly progressive issues. In general terms, it will be very similar to the Canadian reform, although it will have an extremely protectionist tinge on native and more vulnerable communities. Market shares would be reserved for micro-cultivators, businesses led by indigenous people would be prioritized and consumption areas would be enabled. Don’t miss this opportunity to connect with THE cannabis movers and shakers from across the globe during Benzinga’s first Virtual Cannabis Capital Conference on June 1. More News From The Week Benzinga unveiled its 2020 virtual events calendar . Cresco Labs (CSE: CL) (OTC: CRLBF ) terminated its deal to buy Tryke Companies LLC, citing current market conditions. The company also posted fourth quarter results, with revenue of $41.4 million, up by 144% from $17million for the same period in 2018. For the full year 2019, the company generated revenue of $128.5 million, up by 197% from 2018. Cresco posted an adjusted EBITDA loss of $2.9 million, versus an adjusted EBITDA loss of $300,000 in the corresponding period of the prior year. Former Canopy Growth (NYSE: CGC ) CEO and founder, Bruce Linton, is now backing Omura . The cannabis entrepreneur took part in Omura’s latest fundraising event, which ensured the startup a total of $5 million. As part of the agreement, Linton will join the technology platform as a strategic advisor. View more earnings on CBWTF Simplifya , a software firm helping cannabis business become legally compliant, closed $1.5 million in financing. Orthogonal Thinker, a platform company focused on the use of whole plant products and psychoactive compounds for health and wellbeing, announced Monday the close of an oversubscribed seed funding round of $6 million. The company was valued at $111 million, and received investments from Republic Labs and Pay It Forward, among others. Auxly Cannabis Group Inc. (TSX.V: XLY) (OTC: CBWTF ) obtained $25 million in financing after entering into an agreement with an undisclosed institutional investor. Cannabis retailer Fire & Flower Holdings Corp. (TSX: FAF) released its 2019 fiscal year financial results for the period ending Feb. 1, 2020. The Edmonton, Canada-based company posted revenue of $51.1 million, with a gross profit of 36.4%, for 2019. That's up 294% from 2018. In a bid to reach cash flow positivity in the second half of 2020, 4Front Ventures Corp. (CSE: FFNT) (OTCQX: FFNTF ) agreed to sell its non-core retail licenses in Maryland and Pennsylvania. The sale is expected to net Vancouver, Canada-based 4Front $18 million in cash. Helix TechnologiesInc. (OTC: HLIX ) and Hypur Inc. are teaming up to enhance each other’s customer network capacities and services. The two parties agreed to work on the networks’ operational logistics and financial capability. After getting $15.5 million in debt financing, Power REIT (NYSE: PW ) set aside a chunk of that cash for acquisitions. This week, it started with a new cannabis cultivation facility in southern Colorado. Culinary edibles company Azuca has expanded its retail footprint into ten markets nationwide: Arkansas, Colorado, Connecticut, Florida, Georgia, Hawaii, New Mexico, New York, Oregon, and West Virginia. “As consumer interest in CBD continues to grow exponentially, we are excited to expand our product availability to new retailers across the country," Kim Rael, president and CEO, told Benzinga. "Coast to coast, we are seeing consumers demand a controlled, predictable experience using infused products and Azuca addresses these needs like no other brand on the market. We look forward to introducing our delicious, easy-to-dose edibles to new audiences as the retail sector safely reopens nationwide.” Cannatech platform Veriheal launched a cannabis cultivation and research grant. Dubbed the “Cannabis Scholarship,” the grant is aimed at giving 10 students $1,000 to grow their cannabis passions this summer. “Education is the cornerstone of progress. One step forward can rewrite history. We want to enable students to not just take one step forward, but take a thousand steps forward," Joshua Green, co-founder of Veriheal, told Benzinga. "If we can enhance their matriculation through college and support their cannabis passions, then we can affect positive change in hopes that their discoveries and technology will pay itself forward.” The Cannabis Scholarship is open to anyone who is currently matriculating at a college or university inside the continental United States. Students can Apply and Get More information here: https://www.veriheal.com/scholarship/ Crazy Calm recently launched its own YouTube channel, Crazy Calm TV, seeking to “cover the cannabis industry deep and uncensored.” The content is focused on creatives who are pushing the limits of regulation and perception for a better future. Host Matt Aaron has been conducting interviews since 2013, beginning with the Food Startups Podcast (sold in 2018), and most recently, managing the podcast network for Bitcoin.com. Aaron, who is also the co-founder of CBD company Crazy Calm said, “Since we entered the cannabis space, we have faced and seen the difficulties entrepreneurs have to deal with. So we created a transparent, entertaining show to share the reality of the industry.” Top Stories Of The Week Check out the top stories on Benzinga Cannabis this week What You Need To Know About MindMed's Bad LSD Trip 'Off-Switch' Data: Online Spending For Cannabis On 4/20 Doubled From 2019 To 2020 How COVID-19 Is Affecting Cannabis Companies in Colombia These Are The 'Big 4' Colombian Cannabis Producers Shifting Cannabis Sentiment In Bible Belt Presents Reform, Business Opportunities How The Coronavirus Impacts New York's Legal, Illicit Cannabis Operators A Snapshot Of America's Medical Marijuana Markets: Washington Dispensary Execs On Cannabis Delivery During Coronavirus: 'A Lasting Shift In Consumer Behavior' How Legalizing Marijuana Could Help Kick-Start The US Economy Cannabis Stock Rally Puts Short Sellers In The Red For 2020 Check out these and many other cannabis stories on Benzinga.com/cannabis Events Calendar Benzinga will be hosting a virtual Cannabis Capital Conference in June. Check out details here. Lead image by Ilona Szentivanyi. Copyright: Benzinga. See more from Benzinga Data: Online Spending For Cannabis On 4/20 Doubled From 2019 To 2020 ESPAÑOL • Noticias del Día: Vendedores en Corto de Cannabis Sufren, High Times Compra Dispensarios por M, Hablamos con Seth Rogen, y Más ESPAÑOL • Noticias del Día: Por qué Subieron las Acciones de Cannabis, Brasil, Líbano, ATAI, MindMed, Herb Pickup, y Más © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments [Random Sample of Social Media Buzz (last 60 days)] None available.
Trend: up || Prices: 9081.76, 9182.58, 9209.29, 8790.37, 8906.93, 8835.05, 9181.02, 9525.75, 9439.12, 9700.41
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 2021-09-29] BTC Price: 41564.36, BTC RSI: 40.53 Gold Price: 1721.50, Gold RSI: 33.07 Oil Price: 74.83, Oil RSI: 64.13 [Random Sample of News (last 60 days)] Bitcoin Tests Support At $38,000: Bitcoinfailed to settle above the key resistance level at $40,000 and declined towards the support at $38,000 while other cryptocurrencies also found themselves under pressure. Ethereumis currently trying to settle below the $2,500 level whileDogecoinhas moved below the important support level at $0.20. Yesterday, crypto markets were worried about the new U.S. infrastructure bill which called for more reporting from crypto exchanges and other market players. It should be noted that the new bill did not include new taxes or other serious blows on crypto. At this point, it looks that the new bill was used as an excuse to take more profits off the table as Bitcoin faced serious resistance in the $40,000 – $42,000 range. The previous rally was likely driven by short-covering, and now Bitcoin needs additional catalysts to continue its upside move. Bitcoin settled below the support at $39,200 and is currently trying to settle below the next support level at $38,000. RSI remains in the moderate territory, and there is enough room to gain additional downside momentum in case the right catalysts emerge. If Bitcoin declines below the support at $38,000, it will head towards the next support level which is located at the 20 EMA at $37,000. A move below the 20 EMA at $37,000 will lead to the test of the 50 EMA which is located near $36,500. In case Bitcoin manages to settle below the 50 EMA, it will continue its downside move and head towards the support at $35,000. On the upside, the previous support level at $39,200 will serve as the first resistance level for Bitcoin. In case Bitcoin gets above this level, it will have a chance to get to the test of the key resistance level at $40,000. A move above this level will open the way to the test of the resistance at $41,300. In case Bitcoin gets above $41,300, it will move towards the resistance at $42,000. For a look at all of today’s economic events, check out oureconomic calendar. Thisarticlewas originally posted on FX Empire • Economic Data Puts the Loonie and the Greenback in Focus, with the RBA also in Action • Eli Lilly Near Record High Ahead of Earnings; Target Price $300 in Best Case • Will Ethereum Flip Bitcoin? Pantera Capital’s CEO Thinks So • EUR/USD Mid-Session Technical Analysis for August 3, 2021 • Bitcoin Tests Support At $38,000 • U.S. Dollar Index (DX) Futures Technical Analysis – Strengthens Over 91.950, Weakens Under 91.850 || Why Bitcoin-Related And Ethereum-Related Stocks Are On The Move Today: Cryptocurrency-related stocks includingMarathon Digital Holdings Inc(NASDAQ:MARA) andRiot Blockchain Inc(NASDAQ:RIOT) are trading higher Wednesday amid an increase in the price ofBitcoin(CRYPTO: BTC) andEthereum(CRYPTO: ETH) and positive analyst coverage from B. Riley Securities. B. Riley Securities analyst Lucas Pipes maintained Marathon Digital with a Buy rating and raised the price target from $54 to $87. Pipes maintained Riot Blockchain with a Buy rating and raised the price target from $51 to $82. The analyst's model now assumes a $45,000 Bitcoin price versus the prior assumption of a $35,000 Bitcoin price. The model was also adjusted to reflect higher miner costs. Despite higher costs, unit economics for digital mining remains "highly attractive," according to the analyst. “While these adjustments represent a large increase from our prior estimates, we believe our model is still conservative," Pipes said. Marathon Digital is focused on mining digital assets. It owns crypto-currency mining machines and a data center to mine the digital assets. Riot Blockchain is focused on building, supporting and operating blockchain technologies. BTC, ETH Price Action:Bitcoin was up 2.71% over a 24-hour period and Ethereum was up 3.55% over a 24-hour period at publication time. Photo:Quote Inspectorfrom Flickr. Latest Ratings for MARA [{"Sep 2021": "Jun 2021", "B. Riley Securities": "Compass Point", "Maintains": "Initiates Coverage On", "": "", "Buy": "Buy"}, {"Sep 2021": "May 2021", "B. Riley Securities": "B. Riley Securities", "Maintains": "Initiates Coverage On", "": "", "Buy": "Buy"}] View More Analyst Ratings for MARAView the Latest Analyst Ratings See more from Benzinga • Click here for options trades from Benzinga • Why IronNet Shares Are Trading Higher Today • Why Lucid Shares Are Trading Higher Today © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || El Salvador president steps in to fix bitcoin rollout snags: By Nelson Renteria SAN SALVADOR (Reuters) -Salvadoran President Nayib Bukele stepped in on Wednesday to manage the fraught roll-out of a payments app that underpins the nation's adoption of bitcoin as legal tender, and called on users to report any problems on his Twitter feed. Adopting language similar to IT departments in offices around the world, Bukele asked users to close and restart the app if a "currently under maintenance" error screen appeared. The historic adoption of bitcoin as legal tender by the Central American country has been beset by problems that have contributed to a rout in the value of the digital currency globally https://www.reuters.com/technology/bitcoin-bruised-after-chaotic-debut-legal-tender-el-salvador-2021-09-08. Bitcoin continued to lose ground on Wednesday, closing at $46,000, down by 1.7%. "Any financial innovation on this scale is going to come with teething problems. However, if we've learnt anything from watching the markets in the past year, it's that bitcoin maximalists will seek to push the digital currency back up just as quickly as it has fallen," said Michael Kamerman, chief executive of Scandinavian-owned fintech company Skilling. Some market watchers see a bullish future, with a new cryptocurrency research team at Standard Chartered predicting bitcoin will hit $100,000 https://www.reuters.com/technology/standard-chartered-sees-bitcoin-hitting-100000-by-early-next-year-2021-09-08 by early next year and could be worth as much as $175,000 longer-term. Bukele has sent a stream of Twitter messages over the past 36 hours instructing users on how to download the government-backed Chivo app which promises commission-free transactions and which his administration hopes will be adopted by the unbanked. Overnight the president said the app, a digital wallet, was being disconnected for the second time to "improve user experience and the problems it had during the day." "We hope that tomorrow will be much better," he wrote in a tweet. Several users replied in his comments section to report ongoing installation problems. Douglas Rodriguez, head of El Salvador's central bank, said during an event in the Honduran capital Tegucigalpa that the "eyes of the world" were on his country and that the bitcoin adoption was a process that needed time to "mature." Addressing concerns the digital currency could encourage illicit activity, Rodriguez said the rules set out by the bank for using bitcoin were designed to meet money laundering standards and were well received by international authorities. Story continues El Salvador's bitcoin law states the market will establish the exchange rate between the cryptocurrency and the U.S. dollar, the nation's other legal tender. It says all prices may be expressed in bitcoin and tax contributions can be paid in digital currency, while currency transactions in bitcoin are not subject to capital gains taxes. FINE TUNING Notwithstanding technical hiccups, the app's rollout created some waves in El Salvador, in part due to a government handout of $30 in bitcoin to every local user who signs up, and despite polls that show many people are wary of bitcoin's volatility. On the El Salvador edition of Apple's App Store, Chivo was the No. 1 downloaded financial app on Wednesday. Bukele earlier said only a few phone models would initially have access to the app on Alphabet's Google Play to avoid a rush that could collapse the system. On Wednesday afternoon, he wrote on Twitter that Google Play was available for Alcatel smartphones and that more models would be added, though it was important "not to saturate the servers" with too many registrations at the same time. "We are still fine-tuning small details," he said. Reuters could not immediately determine how many times the app had been downloaded. JP Morgan Chase said in a note on Wednesday that some technical snags are to be expected. "These technical issues should not be a surprise given the country had only three months to prepare for this grand experiment," the bank said. "In sharp contrast, China has been preparing/testing its digital yuan for years and has yet to officially launch it." Global retailers operating in El Salvador were accepting bitcoin at some stores, including McDonald's Corp and Starbucks Corp, along with several local outlets. Bukele, 40, who is doing well in opinion polls but has been accused of eroding democracy https://www.reuters.com/world/americas/central-american-aides-judges-former-presidents-us-corruption-list-2021-07-01, has heavily used social media to govern and engage with Salvadorans. (Reporting by Nelson Renteria in San Salvador; Writing by Frank Jack Daniel; Editing by Rosalba O'Brien, Aurora Ellis and Alistair Bell) View comments || SEC chair Gensler worried ‘people will be hurt’ without crypto and SPAC regulations: Securities and Exchange Commission Chairman Gary Gensler shed light on an array of hot-button topics Monday—expressing his belief that “people will be hurt” if cryptocurrency markets are allowed operate beyond the remit of regulators, and voicing concerns that special purpose acquisition companies (SPACs) leave public market investors vulnerable. During an interview with former federal prosecutor Preet Bharara at Vox Media’s Code Conference in Beverly Hills, Calif., Gensler described himself as “technology-neutral” when it comes to the evolutions currently reshaping financial markets and securities. But he added that he was not neutral as far as ensuring investors “are getting a full and fair disclosure” when investing in novel products like cryptocurrencies and SPACs. Bharara asked Gensler about hedge funder Ray Dalio’srecent commentssuggesting that regulators “will kill” Bitcoin if it gains significant mainstream success, and whether they could pose an “existential threat” to the sector, as some crypto proponents fear. But Gensler demurred by comparing the SEC’s role to that of traffic laws and sports referees—and insisting that the onus falls on whether crypto players “want to comply with anti-money laundering laws, tax compliance, and the like,” while regulators “have a responsibility to the American public.” Gensler added that the prolific growth of the cryptocurrency market recently makes regulatory action even more pertinent, with the sector now hovering around $2 trillion in total market capitalization. “This is not going to end well if it stays outside of the regulatory space,” he noted. “To think that a field that’s grown 10-fold in the last 18 months—not just in terms of asset value, but in the underlying lending and much more—that it’s going to stay outside of these public policy frameworks and succeed... We’ll end up with a problem and a lot of people will be hurt." On the matter of SPACs, which function like publicly traded shell companies that can acquire other companies, in effect taking them public, Gensler expressed concern about the loose definitions around what they can do with investors’ money. He noted how the structure incentivizes SPACs to find a merger deal “even if it’s not a particularly great merger”—potentially at the expense of the investors they are raising money from. Gensler also reiterated hisprevious skepticismabout brokerages receiving payment for order flow, which sees them receive compensation for directing their trades to specific market makers and which has provenpopular among newer fintech trading appslike Robinhood. “There can be inherent conflicts of interest,” he said of the practice, adding that the U.S.’s “basic infrastructure rules” governing equity markets are in need of an update given the tech-driven evolution of those markets. • How a mythical $1 trillion coin becameeveryone’s favorite solution to the U.S. debt problem • Bitcoin hasanother major pollution problembrewing • NBA starStephen Curry talks book clubs and investmentin reading subscription service Literati • Correction protection:Surprising ways to cushion a portfolioduring a downturn • China’s Bitcoin ban could bea buying opportunity This story was originally featured onFortune.com || Digihost Announces Record Revenue From Digital Currency Mining for Q2 2021: TORONTO, Aug. 04, 2021 (GLOBE NEWSWIRE) -- Digihost Technology Inc. (“ Digihost ” or the “ Company ”) (TSXV: DGHI; OTCQB: HSSHF) is pleased to announce its financial results for the second quarter ended June 30, 2021 (all amounts in U.S. dollars, unless otherwise indicated). Revenue from digital currency mining was $5.1 million in the second quarter of 2021, a 369% increase over the corresponding quarter in 2020, and a 7% increase over the previous quarter. The Company generated cash flow of $20.3 million in the second quarter of 2021, up significantly from $95k for the same period in 2020, and $7.1 million higher than the previous quarter. Gross profit increased to $2.9 million compared to a gross loss of $1.0 million in Q2 of 2020 and is $0.8 million higher compared to Q1 of 2021. Michel Amar, CEO of Digihost, stated: “We are proud of the record top-line revenue growth, as well as gross profit from mining, achieved by Digihost during the second quarter of 2021. As a Company, we are looking forward to building on these results through the expansion of our mining capacity and strategic co-location agreements in order to continue to deliver record revenue and profit for our shareholders.” Second Quarter 2021 Financial Highlights The following information compares the financial results of the Company for the three months ended June 30, 2021 (“ 2021 ”) and the three months ended June 30, 2020 (“ 2020 ”): Record revenue from digital currency mining of $5.1 million reported in 2021, compared to $1.1 million in 2020, an increase of 369%; Gross profit margin from operations was 58% in 2021 compared to a gross loss margin from operations of 94% million in 2020; Generated Adjusted EBITDA of $2.7 million in 2021, a significant increase from $169k in 2020. The following information compares the financial position of the Company as at June 30, 2021 (“ 2021 ”) and as at December 31, 2020 (“ 2020 ”): Cash balance of $20.3 million in 2021 compared to $0.03 million in 2020, an increase of $20.27 million; Digital currencies balance of $13.7 million in 2021, comprised of 351.94 Bitcoins and 563.89 Ethereum, compared to $4.5 million in 2020, comprised of 153.72 Bitcoins and 0 Ethereum, an increase of $9.2 million and 198 Bitcoins and 564 Ethereum; Total assets of $68.4 million in 2021 compared to $16.5 million in 2020, an increase of $51.9 million; Total liabilities of $4.8 million in 2021 compared to $6.1 million in 2020, a decrease of $1.3 million; and Total shareholders’ equity of $63.6 million in 2021 compared to $10.4 million in 2020, an increase of $53.2 million. Story continues Recent Highlights On June 21, 2021, the Company closed a private placement of 8,333,333 units at a price of CAD$1.80 per unit for gross proceeds of CAD$15 million, bringing the total the Company has closed in equity financings during the first half of 2021 to CAD$69.2 million; On June 22, 2021, the Company announced that it had filed its Form 40-F with the U.S. Securities and Exchange Commission, fulfilling a significant milestone for a listing on Nasdaq; The Company became a signatory to the Crypto Climate Accord, an initiative modeled on the Paris Climate Agreement, which aligns with the Company’s own DigiGreen initiative; On June 10 and June 26, 2021, respectively, the Company formed a strategic collaboration with Bit Digital USA, Inc. to increase the Companies’ combined hashrates by 2.4 EH; The Company’s current cryptocurrency holdings are comprised of 402.19 Bitcoin and 563.89 Ethereum. Michel Amar commented: “Our long-term vision and business strategy is to increase our mining capacity and continue to grow as a leader in the blockchain technology space. The efforts we have undertaken in the past few months illustrate our commitment to pursuing every opportunity in this sector as well as our sustained efforts to generate significant shareholder value in an environmentally conscious manner.” (U.S.$ except per share data) Three Months Ended June 30 For the periods ended as indicated 2021 2020 Revenue from digital currency mining 5,112,553 1,089,877 Operating and maintenance costs (1,803,223 ) (1,023,457 ) Depreciation (361,628 ) (1,089,870 ) Gross profit (loss) 2,947,702 (1,023,450 ) General and administrative and other expenses (3,167,377 ) (479,030 ) Operating loss (219,675 ) (1,502,480 ) Net financial expenses (59,174 ) (21,280 ) Net loss for the period (278,849 ) (1,523,760 ) Other comprehensive income Foreign currency translation adjustment 806,492 - Revaluation of digital currency (1) (7,476,828 ) 228,894 Total comprehensive income (loss) (6,949,185 ) (1,294,866 ) Basic and diluted loss per share – diluted Weighted average number of subordinate voting shares outstanding – basic and diluted (0.00) 66,484,618 (0.04) 40,073,661 EBITDA (2) 82,779 (433,890 ) Adjusted EBITDA (2) 2,688,543 169,371 Non-IFRS measure. A reconciliation to its nearest IFRS measures is provided under "Adoption of new accounting policies – Digital Currencies" in the Company’s MD&A. Non-IFRS measure. A reconciliation to its nearest IFRS measures is provided under "Adjusted EBITDA – Non-GAAP Measure" in the Company’s MD&A. Financial Statements and MD&A The Company’s Condensed Interim Consolidated Financial Statements and Management’s Discussion and Analysis (“ MD&A ”) thereon for the three and six months ended June 30, 2021, will be accessible on SEDAR at www.sedar.com under Digihost’s profile. About Digihost Technology Inc. Digihost Technology Inc. is a growth-oriented blockchain technology company primarily focused on Bitcoin mining. The Company is currently hashing at a rate of 200PH with plans to expand to a hashrate of 3.6 EH by the end of the first half of 2022. For further information, please contact: Digihost Technology Inc. www.digihost.ca Michel Amar, Chief Executive Officer T: 1-818-280-9758 Email: [email protected] 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 in this news release. Neither the TSX Venture Exchange nor its Regulation Services 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. Forward-Looking Statements Except for the statements of historical fact, this news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) 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 hashrate expansion, diversification of operations, potential further improvements to profitability and efficiency across mining operations, potential for the Company’s long-term growth, and the business goals and objectives of the Company. Factors that could cause actual results, performance or achievements to differ materially from those described in such forward-looking information include, but are not limited to: continued effects of the COVID19 pandemic may have a material adverse effect on the Company’s performance as supply chains are disrupted and prevent the Company from operating its assets; the ability to establish new facilities for the purpose of research & development; a decrease in cryptocurrency pricing, volume of transaction activity or generally, the profitability of cryptocurrency mining; delivery of mining rigs for hosting may not be realized in the number anticipated, or at all, and resulting hashing power may materially differ from that anticipated; further improvements to profitability and efficiency may not be realized; the digital currency market; the Company’s ability to successfully mine digital currency on the cloud; 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 Annual Information Form of the Company and other documents disclosed under the Company’s filings at 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. In connection with the forward-looking information contained in this news release, the Company has made assumptions about: the current profitability in mining cryptocurrency (including pricing and volume of current transaction activity); 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 on the cloud 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. || NFT-Focused Topps Abandons Plan to Go Public in SPAC Merger: Legacy trading card company Topps has pulled out of its plan to go public via a merger with a special purpose acquisition company (SPAC) following the loss of its exclusive deal to make baseball cards with Major League Baseball and MLB’s players association, the Wall Street Journal reported Friday. MLB and its players association instead signed an exclusive deal with sports merchandise retailer Fanatics that begins in several years. Topps had reached a deal in April to merge with Mudrick Capital Acquisition Corp. II, a SPAC, and go public. The deal would have valued the combined company at $1.3 billion. Topps has been looking at blockchain and the non-fungible token market to be a “growth accelerator” for the 80-year-old company. Digital sales represent 6% of Topps’ revenue, according to Joel Belfer, a financial analyst at Guggenheim, but that could soon grow to be significantly more. Related Stories Top NBA Pick Paid in Bitcoin for BlockFi Sponsorship Deal Market Wrap: Bitcoin Buyers Could Take Profits as Volume Declines Watford FC Sports Dogecoin Logo in Sponsorship Deal Worth Almost $1M Polygon’s New Gaming Studio Launches With Cricket NFT Platform || What Is Chainlink and Why Is It Important in the World of Cryptocurrency?: Blockchain has seen a staggering rise in popularity since Bitcoin, the first cryptocurrency, launched in 2010. Blockchain has a number of advantages, including decentralization and security. The demand for a decentralized currency has catapulted Bitcoin and other cryptocurrencies to worldwide popularity. The Economy and Your Money:All You Need To KnowFind Out:Where Does Cryptocurrency Come From? But blockchain has its limitations. These systems are inherently closed off from the rest of the world, which is good for security and integrity but also limits the input data they can accept. Thus, there is a need for a sort of bridge that can help these systems see what is happening in the outside world. But in order for the system to work, the input cannot come from a single source. Why? Because it would then rely on a centralized source of data, which goes against the very nature of blockchain. More:What Is a Non-Fungible Token and Why Are They Booming? That is the very problem Chainlink can help solve, as we will find out. Chainlink is a decentralized oracle network that is poised to play an important role in the real-world implementation of blockchain technologies. The purpose of this network is to provide input on a variety of external sources of data. Although blockchain is great at what it does — providing a decentralized, secure ledger for digital transactions — it isn’t so great at taking input for things happening outside the blockchain. There are many “off-chain” forces that influence markets, including fiat currencies, credit cards and even the weather and sports scores. As a decentralized oracle, Chainlink can provide input to what’s known as smart contracts. Find Out:Why Some Money Experts Believe In Bitcoin and Others Don’t These smart contracts help the system respond to a wide range of input (if X, do Y). As the first cryptocurrency, Bitcoin and its corresponding blockchain can only process a small range of this input. But newer blockchains, such as Ethereum, have a wider range. That includes support for programmable smart contracts. On that note, Chainlink was launched on the Ethereum blockchain in 2019, but it is meant to be agnostic. Thus, it can work with other blockchains, too. Read:Bitcoin Cash (BCH): How’s It Differ From Bitcoin and What’s It Worth? LINK is Chainlink’s native token. The token is meant to help finance the growth of the project and is similar to Bitcoin (BTC) and Ethereum (ETH). Both of these cryptocurrencies work on their respectiveblockchains. Just like BTC and ETH act as an incentive for users to mine, LINK does the same. Dogecoin (DOGE):Should You Be Investing? The LINK token launched in 2017 with a price under 20 cents and remained under $1 until 2019. In 2020, the price began to rise precipitously. In fact, the price increased from under $2 in early 2020 to a high of $36 on Feb. 20, 2021. Despite LINK’s meteoric rise, though, it has since dropped from its high of $36 and hasn’t yet reached that level again. In fact, the price dropped nearly $10 by March 1, 2021. As you may have gathered from the above, the value of LINK remains volatile despite its huge gains since early 2020. Therefore, it may be best to invest in LINK only as a way to support the underlying technology. Otherwise, the high degree of volatility may be too much to bear for most investors. Read:How Does Cryptocurrency Work – and Is It Safe? Nevertheless, Chainlink looks to be an important technology as cryptocurrencies continue to evolve. Having an oracle such as Chainlink in place will be key to the long-term stability and viability of cryptocurrency in general. Thus, LINK may be a sound investment if you believe Chainlink will become the industry standard as the most widely-used, decentralized oracle network. This article is part of GOBankingRates’ ‘Economy Explained’ series to help readers navigate the complexities of our financial system. GOBankingRates’ Crypto GuidesWhat Is Cardano? (ADA)What Is Bitcoin? (BTC)What Is Bitcoin Cash? (BCH)What Is Dogecoin? (DOGE)What Is Litecoin (LTC)What Is Polkadot? (DOT)What Is Ripple? (XRP)What is Stellar (XLM)What Is Tether? (USDT) More From GOBankingRates • What Money Topics Do You Want Covered: Ask the Financially Savvy Female • 5 Things Most Americans Don’t Know About Social Security • Nominate Your Favorite Small Business To Be Featured on GOBankingRates • 5 Cities Around the World Experiencing a Housing Market Boom Last updated: April 1, 2021 This article originally appeared onGOBankingRates.com:What Is Chainlink and Why Is It Important in the World of Cryptocurrency? || FTX.US Aiming to Offer Crypto Derivatives Trading in Less Than a Year: Report: FTX.US, the U.S. affiliate of crypto exchange FTX, intends to offer cryptocurrency derivative trading in less than a year. • The exchange sees two ways to achieve that goal – either by launching its own service, which would require a license, or by acquiring a company, FTX.US President Brett Harrison said inan interviewwith Business Insider. • FTX.US has a limited range of offerings compared with its international counterpart, FTX. • “We definitely hope to be able to offer them inside of a year,” Harrison told the publication. “Quite frankly, we could have or should have started a long time ago, but we’re definitely interested in going through the process and collaborating with the [Commodity Futures Trading Commission] to be able to offer those products in the U.S.” The CFTC regulates derivatives. • In June, FTXlaunchedtwoperpetual futuresproducts licensed on VanEck’s subsidiary, MV Index Solutions GmbH (MVIS) Indices, with market data provided by CryptoCompare. Read more:FTX Seeks to Launch Coinbase Futures Market Ahead of Public Listing • Bitcoin Development Boost: FTX Is Donating $450K to Brink • Delta Exchange to Simplify Bitcoin Options Trading With Automated Product • Changing Crypto Trading Patterns Reveal the Market’s Power Shift to the West • FTX Market Share in Bitcoin Futures Nearly Doubled Since June || Fintech Focus For September 8, 2021: Quote To Start The Day:“Why do they call it rush hour when nothing moves?” Source:Robin Williams One Big Thing In Fintech:El Salvador has become the first country in the world to make the cryptocurrency Bitcoin legal tender. Source:NPR Other Key Fintech Developments: • ONT ID hassurpassed1.5M users. • NeobanksintroducingSaaS offers. • Standard Charteredeyesneobank. • JCB, Checkoutgrowingpartnership. • Squire Cardtargetingunderserved. • CashfreedebutsBaaS fintech offer. • MVB, Victor, NYDIGpartneringup. • CoinSwitch Kuber looking toraise. • HoneyBeesecured$5.7M in equity. • BeaxyseeksBlockdaemon for tech. • Baanxacquiresstake in a US bank. • Cboe, EuroCCPintroCEDX market. • Bitso, El Salvadorworkon cryptos. • Waveadds$200M Series A round. • Finance app Jeffadds$1.5M seed. Watch Out For This:Three-quarters of U.S. adults have received at least one dose of a Covid-19 vaccine as of Tuesday, according to the White House, setting a new milestone in the country’s fight against the pandemic. Source:Bloomberg Interesting Reads: • PEpaydayfrom Build Back Better. • FordhiresApple Car Chief in coup. • Soroscautionson China exposure. • NFLstanceon crypto partnerships. • Microsoftlaunchesa news service. Market Moving Headline:“People pretty much stopped buying S&P 500 puts [last] week. At the same time, people are overexposed to changes in VIX, and will be hurt more than usual if VIX starts moving up. Historically, this means SPX down, VIX up.” Source:SqueezeMetrics See more from Benzinga • Click here for options trades from Benzinga • Fintech Focus For September 7, 2021 • Fintech Focus For September 6, 2021 © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Ethereum 2.0: What Is It and Why Is It So Important?: Ethereumbegan as a spark in the eye of co-founder Vitalik Buterin’s back in 2013. That’s when he released the whitepaper for the project, though the Ethereum network wouldn’t see the light of day until 2015. In between, there was the Ether sale in 2014, which is when early buyers could scoop up some of the now second-biggest cryptocurrency usingbitcoin. Back then, Ether fueled the Ethereum network as a payment method for transactions on the network, and years later it stills serves that purpose. • PoW to PoS • What Are the Problems With the Original Ethereum Protocol? • What Is Ethereum 2.0? • What Are the Benefits of Ethereum 2.0? • What’s Taking So Long? Ethereum was launched using theproof-of-work(PoW) consensus protocol, similar to Bitcoin. The PoW data essentially does two things: • Allows computer nodes, which secure and guard the platform, to agree on the validity of the information published on the Ethereum network • Thwarts any economic attack on the network The PoW algorithm, however, is not perfect, and the flaws — including slow transaction times and hefty gas fees — became too big to ignore. The emergence of the Ethereum-based CryptoKitties game is a good example. The game, which introduced an early version of non-fungible tokens (NFTs), became so popular that it clogged the Ethereum network, delaying transactions and causing fees to skyrocket. The rise of decentralized finance, orDeFi, is yet another use case that has underscored the importance of an efficient network. While the DeFi market has seen itstotal-value-locked (TVL) balloonsince catching on like wildfire in 2020, its growth has been stifled in some ways. Some developers have opted for other blockchains, while institutions have largely remained on the sidelines until the kinks are worked out. With greater scalability and more stable fees, Ethereum would likely disrupt traditional finance even more. This is where Ethereum 2.0 comes in. In order for developers to avoid shooting themselves in the foot with their own innovation, they are building Ethereum 2.0. This is a massive upgrade of the existing network to one that is more scalable and could hasten the adoption of the blockchain among the mainstream. Chief among the changes is a switch in the consensus protocol from PoW to proof-of-stake (PoS). Staking will lead to greater participation in securing the Ethereum network, which in turn will create a more decentralized blockchain. The version of Ethereum that was introduced in 2015 was groundbreaking, but unprecedented demand for the network exposed some issues. These problems can be boiled down into three key areas: • A clogged network: The blockchain became too crowded, which is not ideal when trying to attain global adoption. To maintain security, each and every computer node must verify transactions on the blockchain, which slows transaction times down. • Insufficient disk space: As the Ethereum network grew more popular, it became increasingly difficult to run software known as nodes. The trick is to come up with a way to increase Ethereum’s size and power without compromising decentralization. • High energy consumption: Ethereum’s power use to maintain the PoW consensus algorithm for network security is not sustainable for the long term. The Ethereum team sought out to solve these issues while keeping the most important feature of the network intact: decentralization. Eth2 is the solution to achieving greater scalability and security without becoming a centralized network, though it is far from an easy task. Now that we’ve established how far Ethereum has come, let’s take a look at where it is headed. Ethereum 2.0, which is synonymous with Eth2 and Serenity, is a major upgrade of the blockchain network. While it was not the first upgrade, it is the one that is designed to catapult Ethereum tototal-value-locked (TVL) balloon It is a massive undertaking among the developers that will not happen overnight. Instead, Ethereum 2.0 is unfolding in a series of steps, the first of which occurred in the year 2020 with Phase 0, otherwise known as the Beacon Chain. The Beacon Chain is an implementation of PoS that runs alongside the PoW network and is being battle-tested first. In August 2021, Ethereum completed a hard fork dubbed London, which introduced greater stability to gas fees on the Ethereum network and presented a deflationary model to the protocol’s monetary policy. With every phase comes new functionality and enhanced performance that will ultimately lead to the destination of Ethereum 2.0, a PoS network. Ethereum 2.0 will deliver a host of key benefits that are likely to attract even more developers to the network. The three key improvements include: • Greater scalability: Ethereum must be able to support thousands of transactions per second (TPS) for applications built on the network with greater speed and cheaper fees. The one-two punch of sharding and a PoS algorithm is expected to create greater scale thanks to the addition of more nodes, resulting in higher TPS without using more electricity. • Greater security: Ethereum must be as secure as possible to thwart attacks so that users including institutions will feel comfortable using it. The aforementioned Beacon Chain is designed to help with network security. • Greater sustainability: A lesser carbon footprint has become a major theme in the cryptocurrency industry. The PoW consensus algorithm consumes a great deal of energy. Ethereum 2.0 will be better for the environment as there will be no more mining involved. According to Ethereum Co-Founder Vitalik Buterin, whose vision for Ethereum is outlined in the below graphic, Ethereum’s energy consumptionwill be diminished“by a factor of more than 1,000” with PoS. Ethereum 2.0 comprises three separate upgrades, each of which is a monumental task in its own right. • Beacon Chain: Launched in 2020, this technology introduced staking to the network and paved the way for future upgrades. While the Beacon Chain is in testing mode, it is live and will eventually be the cornerstone of Eth2. • Merge: The Ethereum merge is expected for either late 2021 or sometime in 2022. This is where the Beacon Chain will be combined with Ethereum’s mainnet and it will make staking on the Ethereum blockchain a reality while marking an end to mining. • Shard Chains: This represents the splitting of the Ethereum network, which will occur in phases will result in a greater capacity for processing transactions and storing data. Sharding chains are planned for 2022. Ethereum is one of the biggest cryptocurrencies, second only to bitcoin. The transition to Eth2 is a major series of events that solve the issues plaguing the network and could potentially lead to wide-scale adoption of the blockchain while potentially strengthening the Ether price in the interim. Thisarticlewas originally posted on FX Empire • Ethereum 2.0: What Is It and Why Is It So Important? • What are Real Yields? • Saudi Aramco, World’s Largest Energy Company, Earns $25.5 billion in Q2 • The Week Ahead – Economic Data, Central Bank Chatter, and COVID-19 in Focus • U.S Mortgage Rates Fall Once More as Concerns over COVID-19 Peg Back Yields • E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis – No Threat to Strong Uptrend at This Time [Random Sample of Social Media Buzz (last 60 days)] None available.
Trend: up || Prices: 43790.89, 48116.94, 47711.49, 48199.95, 49112.90, 51514.81, 55361.45, 53805.98, 53967.85, 54968.22
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 2022-01-26] BTC Price: 36852.12, BTC RSI: 30.22 Gold Price: 1829.90, Gold RSI: 53.61 Oil Price: 87.35, Oil RSI: 68.07 [Random Sample of News (last 60 days)] NZD/USD Forex Technical Analysis – Strong Short-Sellers Targeting More-Than-One-Year Low at .6589: The New Zealand Dollar fell sharply on Friday, pressured by a stronger U.S. Dollar and weaker Chinese economic data. The U.S. Dollar was mostly steady despite a plunge in U.S. Treasury yields as investors made portfolio adjustments to mixed U.S. employment data and hawkish comments from Fed Chair Jerome Powell earlier in the week. On Friday, theNZD/USDsettled at .6747, down 0.0072 or -1.05%. Weaker-than-expectedChina Caixin CompositeandServices PMI indices, signs that economic activity is slowing in the world’s second largest economy, spooked Kiwi traders into selling early in the session. Later in the session, the U.S. Dollar rose against the New Zealand Dollar after theU.S. jobs reportshowed solid details that suggested the Fed’s plan to accelerate tapering of its asset purchases and to hike rates next year remained intact. The main trend is down according to the daily swing chart. A trade through .6741 will signal a resumption of the downtrend. A move through .6868 will change the main trend to up. The first minor range is .6868 to .6741. Its 50% level or pivot at .6805 is potential resistance. The second pivot price resistance is .6897. The short-term retracement zone at .6980 to .7036 is controlling the near-term direction of the NZD/USD. The direction of the NZD/USD early Monday is likely to be determined by trader reaction to .6747. A sustained move under .6747 will indicate the presence of sellers. Taking out .6741 will signal a resumption of the downtrend. This price is a potential trigger point for an acceleration to the downside with the November 2, 2020 main bottom at .6589 the next likely downside target. A sustained move over .6747 will signal the presence of buyers. If this creates enough upside momentum then look for a surge into the minor pivot at .6805. Taking out .6805 will indicate the buying is getting stronger. This could trigger an extension of the rally into the main top at .6868. Taking out .6868 will change the main trend up. This could trigger a further rally into the next pivot at .6897. Taking out .6741 then turning higher for the session will put the NZD/USD in a position to post a closing price reversal bottom. This won’t change the trend, but if confirmed, it could trigger the start of a 2 to 3 day counter-trend retracement. For a look at all of today’s economic events, check out oureconomic calendar. Thisarticlewas originally posted on FX Empire • Shiba Inu Coin – Daily Tech Analysis – December 5th, 2021 • The Week Ahead: Central Banks and COVID-19 in Focus alongside a busy Economic Calendar • E-mini S&P 500 Index (ES) Futures Technical Analysis – Reaction to 4549.25 Pivot Sets Early Tone • Bitcoin and Ethereum – Weekly Technical Analysis – December 6th, 2021 • U.S Mortgage Rates Continue to Hold Above the 3% Mark in Spite of Omicron • Shiba Inu Coin – Daily Tech Analysis – December 6th, 2021 || Bitcoin back over $50,000, as market calms after weekend turmoil: By Alun John HONG KONG - Bitcoin rose 1.5% in early Asia on Tuesday, after firming overnight in line with equity markets and other risk assets, but many crypto traders remained on edge after Saturday's sharp and sudden plunge. The world's largest cryptocurrency was last around $50,800, having closed a choppy day on Monday 2.2% higher. "The general confidence in crypto is still high and market sentiment is coming back as we saw a general risk-on mood on Monday. Omicron’s effect looks a lot milder than the market has digested," said Edison Pun, senior market analyst at Saxo Markets in Hong Kong. Tuesday's calm followed quite a storm. Bitcoin fell as much as 22% to just under $42,000 on Saturday on a combination of profit-taking and macro-economic concerns, but rebounded somewhat later in the session, with thin weekend liquidity exacerbating price moves. Cryptocurrency analysts were not quite sure what triggered the heavy selling. But they pointed to a plunge in margin borrowing and in fresh futures positions, as well as to activity by large holders of bitcoin as evidence of mass liquidation. That crash was the biggest since a 31% collapse in bitcoin's price on May 19. According to cryptocurrency analytics platform Coinglass, bitcoin's market capitalisation has fallen to about $932 billion from $1.25 trillion on Oct. 21. Bitcoin set a new record high of $69,000 on Nov. 10. Ether, the world's second largest cryptocurrency, was last down 0.3% to $4,340. Against its larger peer, ether sat at 0.085 bitcoin, just off Monday's near four year top. (Reporting by Alun John; Editing by Ana Nicolaci da Costa) || Blockstream Mining Note kickstarts tokenised capital raise on Bitfinex Securities: Bitfinex Securities has begun a capital raise offering for Blockstream Mining Note, opening the doors for tokenised institutional exposure to Bitcoin mining. The tokenised ‘note’ will provide a fractionalised ownership share in Blockstream’s Bitcoin mining proceeds – an alluring offer for professional investors when you consider that Bitcoin mining equities such as Marathon have outperformed BTC consistently in 2021. With only 25 tokens up for grabs – valued at the institutional price-point of €350,000 each – the capital raise will complete at the end of January. This is the first major security token issuance of 2022 – and many will be watching closely following a report from analysts at JP Morgan which predicted significant growth in the financial tokenisation space this year. In a conversation with Coin Rivet, Paolo Ardoino – CTO at Bitfinex – walked us through the outlook for the issuance platform in 2022. “A big rise in security token offerings has been anticipated for a few years now,” explained Paolo. “The capability for blockchain-based technologies to radically disrupt the incumbent exchange model for the listing of securities makes it inevitable that we will see a major shift on this front. “Will 2022 be the year? I’d prefer not to speculate on such wider market developments.” Read More: Security tokens are back with a boom Paolo Ardoino explains Bitfinex Securities’ ethos Barriers to entry remain initially high, with the BMN issuance, like many security token offerings, primarily aimed at high net worth investors with a minimum sum of $100,000. A recent publication by leading securities tokens analytics firm STO Markets suggested that issuance platforms will need to reduce barriers to entry for retail investors to create more liquidity on secondary markets. However, Paolo explained that Bitfinex Securities’ overarching strategy is more focused on connecting emergent Fintech firms with muc- needed capital injections. Story continues “It is important to note that Bitfinex Securities is focused on securities in the space of innovative fintech start-ups, often disenfranchised from incumbent stock exchanges such as Nasdaq – these are businesses that have a turnover of between US$50 million and US$100 million,” he added. “Unlike other exchanges that have merely sought to tokenise established corporations such as Facebook or Apple, Bitfinex Securities is focused upon enabling innovative fintech start-ups to flourish and grow. These companies could be the next Facebook or Google at the end of this decade when Web 3 goes from being a topical buzzword to a new reality. “The Bitfinex Securities platform will be at the forefront of enabling innovative businesses using decentralised ledger technologies to raise capital, grow and ultimately succeed. In 2022 you will witness the beginning of this journey at Bitfinex Securities.” Read More: Bitfinex launch exchange to tackle security token problems || Bitcoin (BTC) Price Prediction for 2022: 2021 has been an excellent year for the broader cryptocurrency market in terms of adoption and price action. The prices of most cryptocurrencies have soared massively since the start of the year despite the recent bearish trend. 2021 is coming to an end, andBitcoinremains the most dominant cryptocurrency in the world. The cryptocurrency’s value has experienced a massive increase in value over the past 52 weeks, outperforming numerous major financial assets such as Gold during that period. In the last 52 weeks, Bitcoin’s price has risen by 72%. Bitcoin began 2021 trading around $32k per coin after it surpassed its 2017 all-time high of $20,000 towards the end of 2020. The leading cryptocurrency continued its 2020 rally in 2021 and quickly reached a new all-time high above $64k by April. The rally came as the adoption of cryptocurrencies continued. The entry of more corporate entities into the crypto space helped push the price higher.Tesla began accepting Bitcoinas a means of payment for its electric vehicles;MicroStrategy continued to accumulate more bitcoins,and El Salvador was preparing a bill to make Bitcoin a legal tender. The increase in adoption from institutional and retail investors pushed Bitcoin to a new all-time high of $64k. However, from May, Bitcoin went on to underperform till September. The poor performance was mostly caused by China’s ban on cryptocurrency-related activities. It began with the various provinces inChina banning cryptocurrency mining activities. China accounted for most of Bitcoin’s mining hash rate. Hence, the crypto mining ban resulted in Bitcoin mining’s hash rate declining massively. Thus, resulting in Bitcoin’s price losing more than 50% of its value and dropping below the $30k level in July. The Chinese government didn’t stop there. The People’s Bank of China (PBoC)banned financial institutionsand corporate entities from engaging in crypto-related transactions. Companies caught processing crypto-related transactions are sanctioned. This move effectively ended crypto trading activities in the Asian country. Thus, resulting in numerouscryptocurrency exchanges ending their services in China. Furthermore, companies such as Alibaba and Bitmain stopped selling crypto mining hardware to Chinese residents. The attack by Elon Musk on Bitcoin and its massive energy usage also contributed to the bearish performance.Tesladiscontinued its Bitcoin payment method due to environmental concerns about its energy usage for mining purposes. Bitcoin’s price bounced back in September as miners moved to Europe and North America. The mining hash rate started to recover as the mining farms, and other individual miners found new homes in countries such as The United States, Kazakhstan, Iran, Canada, and several others. El Salvador became the first country in the world toofficially make Bitcoin a legal tenderin September. Despite the warnings from global financial institutions like the IMF, El Salvador’s Bitcoin adoption is already yielding fruit. Bitcoin slowly rose to reach anew all-time high at $69,044in November, with the total cryptocurrency market cap reaching a new all-time high of $3 trillion. The increase in demand for Bitcoin by institutional investors and the entry of more corporate entities helped push the market higher. However, Bitcoin is currently down by nearly 30% from its all-time high and is trading around $50k per coin at the moment. The recent poor performance has been attributed to selling pressure in China as exchanges close their operations in the country, and Chinese traders are selling their bitcoins before they lose their money. 2022 is expected to bring further growth to the cryptocurrency market and to Bitcoin in particular. Jack Dorsey resigned from his role as Twitter CEO and changed Square’s name to Block in a bid to focus on developing products centered on Bitcoin. Market experts are optimistic that 2022 will be a better year for Bitcoin. Vijay Ayyar, vice president of corporate development and global expansion at crypto exchange Luno, is confident that the United States will seethe first spot Bitcoin exchange-traded fund(ETF) in 2022. He said,“The Bitcoin Futures ETF that launched this year has been widely regarded as not very retail-friendly given the high costs involved of rolling over contracts which amount to around 5-10%. Increasing pressure/evidence… points to a Bitcoin Spot ETF being approved in 2022 mainly because the market is now large and mature enough to support one.” Grayscale has filed to convert its Grayscale Bitcoin Trust (GBTC) to a spot Bitcoin ETF, and many are optimistic that the SEC will approve at least one proposal in the coming year. Kate Waltman, a New York-based certified public accountant who specializes in crypto, expects Bitcoin to reach $100,000 in the first quarter of 2022.“The most knowledgeable educators in the space are predicting $100,000 Bitcoin in Q1 2022 or sooner,”she said. Bitcoin’s technical indicators are negative at the moment due to the coin’s underperformance in recent weeks.The MACD lineis still within the bearish region, while the RSI of 46 shows that Bitcoin is facing selling pressure in the market. However, the long-term indicators show that Bitcoin is performing well. BTC is trading above its 200-day simple moving average at $47,272. The technical indicators could improve over the coming weeks and months as Bitcoin is expected to perform better in the coming year. By January, the selling pressure from China is expected to end, and similar to the mining hash rate, Bitcoin’s price could be set to surge higher. Once that happens, the MACD and RSI will be back in the positive region. According toWalletInvestor’s 2022 forecast, Bitcoin’s price could end 2022 trading above the $80k level. Regardless, it would be exciting to see how Bitcoin performs over the coming year. Thisarticlewas originally posted on FX Empire • Metaverse – SAND and MANA Price Predictions for 2022 • USD/JPY Fundamental Daily Forecast – Strong Risk Sentiment Favors Higher-Yielding U.S. Dollar • U.S Mortgage Rates Slide but Avoid sub-3% • U.S. Dollar Index (DX) Futures Technical Analysis – Weak Close Could Lead to Short-Term Change in Minor Trend • Oil Price Fundamental Daily Forecast – OPEC+ Decision Put in the Bottom; Easing Omicron Fears Lifting Prices • The Week Ahead – U.S and Chinese Economies and COVID-19 in Focus || Stock Market Today: Nasdaq Closes in Correction Territory: red arrow going lower Getty Images The stock market kept investors on edge today, with the major benchmarks bouncing back and forth between positive and negative territory. SEE MORE The 22 Best Stocks to Buy for 2022 Bank stocks remained in focus following the latest round of fourth-quarter earnings reports, though today's reactions were mixed. State Street ( STT , -7.1%) was a notable decliner as lower-than-expected servicing fees revenues overshadowed higher-than-anticipated profit and revenue, while U.S. Bancorp ( USB , -7.8%) slid after posting disappointing earnings and net interest income. Bank of America ( BAC , +0.4%), on the other hand, edged higher after its top- and bottom-line beats, while Wall Street also welcomed the financial firm's forecast of growth in noninterest expenses – which include employee salaries – to be roughly flat in 2022. (Goldman Sachs took a beating yesterday for noting that rising compensation costs were taking a bite.) Overall, the financial sector (-1.7%) was one of the biggest laggards on the Street today, second only to consumer discretionary (-1.8%). Sign up for Kiplinger's FREE Investing Weekly e-letter for stock, ETF and mutual fund recommendations, and other investing advice. "Prior to last Friday, when the first round of earnings started to hit, the Financial Select Sector SPDR ETF was up 9.5% [from its December lows] while the S&P Regional Banking ETF was up 17%," says Michael Reinking, senior market strategist for the New York Stock Exchange. "This made the bar very high for this group coming into the reporting season." After a choppy intraday session, the Dow Jones Industrial Average (-1% at 35,028), S&P 500 Index (-1% at 4,532) and the Nasdaq Composite (-1.2% at 14,340) all ended the day in the red – the last of the three closing in official correction territory (a drop of 10% or more from a peak). stock price chart 11922 YCharts Other news in the stock market today: The small-cap Russell 2000 gave back 1.6% to land at 2,062. U.S. crude oil futures surged 1.8% to settle at $86.96 per barrel, their loftiest settlement in more than seven years. Gold futures jumped 1.7% to finish at $1,843.20 an ounce. Bitcoin slipped 0.4% to $41,638.31. (Bitcoin trades 24 hours a day; prices reported here are as of 4 p.m.) Procter & Gamble ( PG , +3.4%) reported fiscal second-quarter earnings of $1.66 per share and revenue of $20.95 billion, beating analysts' consensus estimates for earnings of $1.65 per share and revenue of $20.34 billion. The company credited price increases for its strong quarter and said more are slated to take effect this quarter. "We reiterate our Buy, viewing PG's best-in-class supply chain and dominant pricing power as a significant competitive advantage during this difficult operating environment," says CFRA Research analyst Arun Sundaram. "While PG is facing higher costs, it is translating into broad-based market share gains, which could prove to be much stickier than recent inflation trends." SoFi Technologies ( SOFI ) surged 13.7% after the San Francisco-based fintech firm received approval from both the the Office of the Comptroller of the Currency (OCC) and the Federal Reserve to become a bank holding company. SOFI plans to close on its acquisition of California communitiy lender Golden Pacific Bancorp in February, at which point it can operate SoFi Bank, its bank subsidiary. "We're initiating coverage of SoFi with an Outperform [Buy] rating and a $20 price target, which represents ~60% upside [to Tuesday's close]," wrote Wedbush analyst David Chiaverini in a note. "The company is a one-stop shop for financial services and this is a significant competitive advantage over neobank competitors who tend to focus on niche offerings rather than the full financial picture; plus its streamlined product offering makes it well-positioned versus legacy consumer finance providers including traditional banks who are viewed by younger cohorts as being outdated, not fee-friendly, and have friction in the cross-selling process given business segments tend to operate in silos." Story continues How Investors Can Find Zen There have been plenty of Wall Street experts sounding the alarm that the recent bout of volatility could continue in the near term. And for many in the market, these choppy waters could have them struggling to remain calm – but all hope is not lost. SEE MORE 12 Best Monthly Dividend Stocks and Funds to Buy for 2022 One way for investors to find zen amid the uncertainty is by letting someone else – namely skilled, seasonal managers – guide them and their portfolios. For 401(k) investors, we've recently culled the most popular mutual fund options for retirement savers , including those from top brokerage firms like T. Rowe Price , Fidelity , Vanguard and American Funds . We also have our running list of the best low-fee mutual funds investors can buy . Several of our picks have changed over the last year to account for the changing dynamics of both the market and the economy, but one thing has stayed the same: Our Kiplinger 25 is made up of our favorite low-cost funds managed by tenured stock pickers. Check them out. SEE MORE Hedge Funds’ 25 Favorite Blue-Chip Stocks You may also like Your Guide to Roth Conversions How to Know When You Can Retire The 10 Best Closed-End Funds (CEFs) for 2022 View comments || SEC blocks Anthony Scaramucci’s Bitcoin fund: The Securities and Exchange Commission Thursday rejected Anthony Scaramucci’s proposal to launch a Bitcoin-based investment fund, saying it would be too risky for investors. The proposal by Scaramucci — a financier best known for his 10 days as former President Donald Trump's communications director in 2017 — would have let investors on the New York Stock Exchange buy shares in a fund backed by the Bitcoin digital currency. It's just one of several exchange-traded funds being pitched as a way to let individuals speculate on the price of Bitcoin without having to buy it directly. The fund proposed by Scaramucci's hedge fund SkyBridge Capital and investment firm First Trust is one of several Bitcoin-backed ETFs that the SEC has blocked. SEC Chair Gary Gensler has resisted giving the green light to the funds amid concerns that the volatile digital asset market backing them remains opaque and unregulated. The SEC has instead allowed funds to trade if they're linked to Bitcoin futures contracts — a financial instrument regulated by the Commodity Futures Trading Commission that reflects the value of the digital currency. The SEC's refusal to approve Bitcoin funds like Scaramucci's has triggered a backlash from crypto-friendly lawmakers and investment firms, including some who argue that the agency is breaking the law by holding up the applications. Reps. Tom Emmer (R-Minn.) and Darren Soto (D-Fla.) sent a letter to Gensler in November urging him to allow investment firms to offer regulated products that invest in digital assets. Grayscale Investments, whose application to launch a Bitcoin ETF application is pending with the SEC, published a letter from the law firm Davis Polk claiming the agency's approach is illegal. SkyBridge, First Trust and NYSE did not respond to requests for comment. || Fed Likely To Hike Interest Rates in June 2022 To Combat Spiking Inflation: Michael Brochstein/SOPA Images/Shutterstock The Federal Reserve is expected to speed up its tapering of asset purchases at its December meeting this week and then hike interest rates three times in each of the next two years, starting in June 2022. This analysis comes courtesy of a new CNBC survey of economists, strategists and money managers. But could such a move by the Fed help to soothe an economy being rocked by spiking inflation and other confounding factors? See: Bitcoin Bulls Argue for Crypto as a Hedge Against Soaring Inflation Find: Inflation Now Hovers Around 7% – An Expert Explains What’s Happening Survey respondents predict that the Fed will double its taper pace to $30 billion at the December meeting, which would likely end the agency’s $120 billion in monthly asset purchases by March, CNBC reported. The Fed started the aggressive asset-purchase program as a way of easing the economic impact of the COVID-19 pandemic . CNBC polled 31 financial and economic experts and released the results on Dec. 14. Respondents expect the Fed to move quickly on a series of six rate hikes over the next two years, with the first expected in June — a big shift from the September survey, which predicted that the first rate hike wouldn’t happen until the end of 2022. The funds rate is seen climbing to 1.5% by the end of 2023 from its current range of near zero. The Fed is expected to keep raising rates until it hits its terminal rate of 2.3% by May 2024. When asked if the Fed will have to hike above its neutral rate to slow the economy and combat inflation, the survey respondents were fairly evenly split, with 45% saying yes and 48% saying no. “The economy has jumped far ahead of Fed policy rates,” Steven Blitz, chief U.S. economist at TS Lombard, told CNBC. “The only hope is to raise rates and hope inflation drops enough to bring everything into line.” Inflation is expected to peak in February 2022 and then begin easing after that. But even with lower inflation, it is still projected to hover around 4% next year and 3% in 2023 — well above the Fed’s 2% target. Story continues “If the pandemic continues to recede — each new wave of the virus is less disruptive to the health care system and the economy than the previous wave — the economy should be near full employment and inflation will be comfortably low by this time next year,” Mark Zandi, chief economist at Moody’s Analytics, told CNBC. Learn: How Much Money Should You Budget for Home Maintenance in 2022, Based on Inflation? Explore: How Social Security, Wage Hikes and SNAP Will Alleviate Inflation in 2022 In recent testimony to Congress, Fed Chairman Jerome Powell signaled his plans to move more aggressively to taper asset purchases. Many economists took those comments as a sign of a strengthening economy. “A change in course just six weeks after the Fed’s tapering announcement sounded implausible a month ago, but the signals are mounting and market conditions are supportive,” Ryan Boyle, senior economist at Northern Trust, told MarketWatch last week. More From GOBankingRates The 5 Fastest Ways To Become Rich, According To Experts Social Security Schedule: When You’ll Receive Payments For The Remainder of 2021 Earn Up To $1,500 in Bonuses With This Checking Account Should You Refinance Now With the Low Mortgage Rates? This article originally appeared on GOBankingRates.com : Fed Likely To Hike Interest Rates in June 2022 To Combat Spiking Inflation || BitXmi Crypto Exchange Launches NFT Marketplace After Its 7X BXMI Token Surge: New Delhi, India--(Newsfile Corp. - December 13, 2021) - With the launch of the NFT marketplace, the BitXmi cryptocurrency exchange is making significant strides towards global adoption of NFTs. The BitXmi team aims to educate the cryptocurrency community and introduce more people to the world of cryptocurrency and NFTs. The aim is to help more people achieve financial freedom by providing access to a stable, reliable investment vehicle. The BitXmi exchange will allow non-technical investors to trade in the cryptocurrencies and NFTs with minimal risk. As a result, the platform will be friendly to both beginners and advanced users. Furthermore, it will feature a low fee structure and high withdrawal limits. The NFT marketplace will be a great addition to the BitXmi crypto exchange. The BitXmi crypto exchange aims to make the crypto industry more accessible and attractive for both retail and professional investors. In particular, it has seen great success in marketing and token sale, which has led to a significant expansion in the company. The BitXmi crypto exchange will launch its NFT marketplace in Q3 2021. The exchange has set ambitious goals for the NFT token. BXMI token is now listed oncoinmarketcapand available for trade oncointigerandcoinsbitexchange. As a crypto-based exchange, BitXmi aims to build a market for NFTs that is accessible to non-technical users. Its security features and funds insurance are highly appreciated. This cryptocurrency exchange has the potential to provide a wider range of investment opportunities to its customers. To achieve its vision of creating a world where users can easily trade in cryptocurrencies, BitXmi has created a user friendly trading dashboard. The platform has supported over 140 cryptocurrencies in its crypto exchange and recently updated its roadmap with several goals. BXMI token is the utility token and is the most preferred token on several platforms. While BXMI has launched an NFT marketplace, it is still working on an upgraded NFT trading platform. This type of crypto exchange will offer users the ability to trade creatives, as well as buy gold and diamonds. It will also offer low transaction fees while allowing 0% crypto-to-USD conversions. The NFT marketplace is a revolutionary concept for cryptocurrency traders. While it's relatively new to most Indians, the BitXmi exchange has launched an NFT marketplace. The NFT market is a digital asset exchange that enables users to buy, sell and stake physical collectibles in digital form. Its primary focus is to make it easy for both novice and experienced crypto investors to own precious physical or digital items in crypto form. The NFT market is an emerging trend, in the world of cryptocurrency. The NFT market is a unique form of currency that allows for the trading of different types of collectibles. The Bitcoin has been in existence for a while, but the NFT market has just been born. Singapore based cryptocurrency exchange BitXmi has launched an NFT marketplace by the name BxmiNFT for the exchange of digital assets like art, gold and diamonds. The launch comes after the price surge in BXMI, which is BitXmi's own utility token. Indian crypto exchange BitXmi plans to attract current users and institutional investors with its real asset based NFTs and utility token BXMI. The exchange also offers OTC desk services for the exchange of cryptocurrencies securely. BXMI token is also introduced in Coinpayments, which allow merchants to accept BXMI tokens through payment gateway. Soon BXMI token will be available in POS machines and will be accepted offline by merchants across the world. The launch comes when BitXmi's in-house exchange token, BXMI,gainedalmost 7000% in value. The exchange itself was subject to the same trajectory during the past one year, as visitors to its website increased drastically, according to public information available through marketing and browser tools. BitXmi founder Sanjay Jain celebrated the launch which he claimed was the first of its kind in India. In an interview with Neha Soni from Corum8 he said, "We are delighted to launch one of India's first NFT marketplace. Since our inception, we have been at the forefront of innovative experience and empowered our customers with value-added offerings." Creating and listing NFTs will reportedly be free on the platform, and work is apparently underway to negate the gas fees that occurs while minting NFTs. Now people will be able to access real world precious assets like gold and diamonds via cryptocurrencies. "As of now, we are working around certain fallbacks to make NFTs more lucrative for our users," added Jain. NFTs were first seen in 2017 as non-serious collectible tokenswhich were namedCryptoKitties. Their fanfare and utility remained silent in the following years until they exploded in popularity again in the end of year 2020, when prominent artists, celebrities and sports stars began maximizing their potential as marketing tools. In just a few short months, major corporate brandshavebegun exploring the useof NFTsin their industry, and overhalf a billiondollars' worth of NFTs are already in market. "We have introduced staking to involve crypto enthusiasts into crypto and grow the ecosystem. We are striving to provide the guaranteed returns of 12-18% per year through staking," Jan said, adding: "Moreover, the low bank interest rates has sparked demand for alternative ways to earn passive income on holdings. Staking works just like SIP which allows you to earn high periodic interest without any counter-party risk." Media Contact: Email:[email protected] To view the source version of this press release, please visithttps://www.newsfilecorp.com/release/107493 || TechCrunch+ roundup: Zero-day exploits, breaking into Japan, algorithmic VC investing: We work with contributors to develop guest posts that will help TechCrunch+ readers solve actual problems, so it's always a delight to present a comprehensive "how to" article. In this case, Barnabas Birmacher, CEO of Platform as a Service company Bitrise, shared the lessons he learned as his team attempted to enter Japan . Launching a product in a foreign market where you're unfamiliar with the language and culture is a necessary step for growing companies, "but the barriers to entry are high" in Japan, Birrmacher notes, which is why building community was foundational to their expansion. Instead of relying solely on strategic partners, his team visited Japan before ramping up to host events and engage directly with early adopters. Full TechCrunch+ articles are only available to members Use discount code TCPLUSROUNDUP to save 20% off a one- or two-year subscription Setting aside traditional media and marketing tactics, Bitrise hired a manga artist to create a comic featuring a mobile developer, developed "Japan-first" swag to hand out, and even crafted a full-sized mascot costume for conferences. "We left the suit with one of our customers and now people wear it while they’re drinking," he writes. If your startup is at or near the point where you're considering an international expansion, this post contains several tactics you can adapt and test. "Whether or not these things make sense for you, the most important thing to do while you’re there is to show up and be a part of the community," says Birmacher. Thanks very much for reading TechCrunch+, and I hope you have a great week. Walter Thompson Senior Editor, TechCrunch+ @yourprotagonist How our SaaS startup broke into the Japanese market without a physical presence A CISO’s playbook for responding to zero-day exploits Football play strategy drawn out on a chalk board Image Credits: Kalawin (opens in a new window) / Getty Images The Log4Shell exploit that gave bad actors the ability to execute malicious code on infiltrated servers made global headlines and ruined many cybersecurity professionals’ holidays. Despite a series of high-profile attacks, many companies still lack a response plan, writes Jonathan Trull, SVP of customer solutions, architecture and engineering at Qualys. Drawing on his experience as a CISO, Trull outlines three steps companies can take to develop a playbook: Establish a standard operating procedure Inventory, inventory, inventory Information gathering, sharing and analysis A CISO’s playbook for responding to zero-day exploits For the first time in 4 years, profitability beats growth Origami Tortoise and the Hare Image Credits: gabetcarlson (opens in a new window) / Getty Images Story continues Venture capitalists pin their hopes and expectations on revenue because it’s a clear signal of how quickly their investment may grow. But lately, profitability has quietly overtaken revenue growth as the metric of choice, according to Jeremy Abelson and Jacob Sonnenberg of Irving Investors. "In 2021, profitability — measured by free cash flow (FCF) margins — not revenue growth, had the higher correlation to positive stock returns in the software sector. This broke a four-year trend of revenue growth being the more important driver of software company stock performance." Abelson and Sonnenberg unpack the factors that are pushing investors to sell high-growth stocks and share "some of our favorite metrics as the profitability versus growth dynamic continues to play out." For the first time in 4 years, profitability beats growth 2022 crypto predictions from Prime Trust CFO Rodrigo Vicuna Full length of young woman looking back over shoulder while walking on pink currency symbols against white background Image Credits: Klaus Vedfelt (opens in a new window) / Getty Images New York City Mayor Eric Adams converted his first paycheck into Ether and Bitcoin; Burger King is slapping QR codes on 6 million meal boxes that unlock NFTs. Cryptocurrency is having a cultural moment, but we've yet to reach mass adoption, despite what marketing campaigns might have you believe. Rodrigo Vicuna, CFO at fintech-focused bank Prime Trust, shares his predictions for this year's crypto market, suggesting that tighter rules might bring more consumers into the fold: "It might seem counterintuitive, but more regulation provides more guidance, which provides reassurance for institutional and mass use.” 2022 crypto predictions from Prime Trust CFO Rodrigo Vicuna Will the latest selloff finally shake up how investors value startups? Image Credits: Nigel Sussman (opens in a new window) The public markets have gone downhill in the past few weeks, but early-stage investments in startups aren’t showing any signs of slowing. It may be that investors are taking off their hype hats and valuing companies based on how profitable they are rather than how fast they’re growing their revenue, wrote Alex Wilhelm in the Exchange. “A shift toward a more P/E world for tech companies over a P/S stance would make profit more, well, profitable for companies. More valuable, in other words. That, in turn, could change how companies — startups included — invest and what they prioritize.” Will the latest selloff finally shake up how investors value startups? Is algorithmic VC investment compatible with due diligence? Pole lifting rubber duck with hook in its head Image Credits: Andy Roberts (opens in a new window) / Getty Images Increasingly, investors are spending more time looking at the numbers and less on founders' personalities before cutting a check. "In practice, attempts to remove bias can create newer, blind spots that are harder to identify," writes Natasha Mascarenhas, who interviewed people who use algorithmic investment to guide their decision-making. “Every little while, we hear more rumblings that the industry will shift to lean in this direction, but candidly, it’s hard,” said Clearco co-founder Michele Romanow. “It requires deep technical expertise and a product to match, so while it sounds nice on the surface, people generally revert to what they know, which is the traditional gated system with humans making decisions based on intangible factors.” Is algorithmic VC investment compatible with due diligence? 3 ways investors can assess the strength of an NFT opportunity Choosing between Orange fruit and peeled orange skin without fruit. Non-fungible tokens are highly speculative, but Clara Bullrich, co-founder of TheVentureCity, says green flags are just as easy to spot as red ones — if investors know what to look for. "Investors need to know the basics of NFTs and their potential, but they don’t need deep technical knowledge," writes Bullrich. "That’s because the real value of any NFT project lies with the people building it." 3 ways investors can assess the strength of an NFT opportunity View comments || Rio de Janeiro's mayor is following the lead of Miami's bitcoin-loving Francisco Suarez and will invest 1% of the city's reserves in the cryptocurrency: Rio de Janeiro Mayor Eduardo Paes. Buda Mendes/LatinContent via Getty Images Rio de Janeiro is aiming to put 1% of the famous Brazilian city's reserves into bitcoin, its mayor reportedly said Thursday. Eduardo Paes spoke of the plan during a panel with Miami Mayor Francis Suarez, himself a bitcoin bull. Rio de Janeiro may also offer a discount on property taxes paid in bitcoin. Sign up here for our daily newsletter, 10 Things Before the Opening Bell . The mayor of Rio de Janeiro is working to put a slice of the famous Brazilian city's reserves into bitcoin, according to reports Friday, a move reminiscent of Miami Mayor Francis Suarez's push make his city a cryptocurrency hub. "We are going to launch Crypto Rio and invest 1% of the treasury in cryptocurrency," said Rio de Janeiro Mayor Eduardo Paes on Thursday, according to a translated version of a report by Brazilian newspaper O Globo . He revealed the plan during Rio Innovation Week at a panel with Suarez, whose own crypto efforts in Miami include a plan to pay residents a "bitcoin yield" from its city coin. Meanwhile, Rio's Secretary of Finance and Planning Pedro Paulo told O Globo that the city is also looking into offering a discount of 10% on property taxes paid with bitcoin. Paes, who is serving a third mayoral term in the city that's home to the famous Copacabana and Ipanema beaches, also said the state of Rio de Janeiro, where the city of the same name is located, is separately planning to introduce tax exemptions to the industry, according to a report by Cointelegraph . "The government has a role to play," he said. Miami Mayor Francis Suarez at the Bitcoin 2021 Convention. Joe Raedle/Getty Images Meanwhile, Suarez spoke about transforming cities into technological hubs, according to O Globo. He has overseen initiatives in his city such as working to get crypto companies to move their headquarters and set up offices in the city. Last year, Suarez outlined a plan to share with Miami residents some of the gains from its new cryptocurrency called MiamiCoin. The local cryptocurrency was launched in August through CityCoins, an open-source protocol that allocates 30% of its reward to cities when their coins are bought or mined. Read the original article on Business Insider [Random Sample of Social Media Buzz (last 60 days)] None available.
Trend: up || Prices: 37138.23, 37784.33, 38138.18, 37917.60, 38483.12, 38743.27, 36952.98, 37154.60, 41500.88, 41441.16
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] Not fully available. [Random Sample of News (last 60 days)] CoinDesk's 2016 Report Suggests Bitcoin Isn't Dead Yet: While much of the press about bitcoin has been relatively negative over the past year,CoinDesk's "State of Bitcoin and Blockchain 2016" report shows that the cryptocurrency may not be as beaten down as many believed. The report, published on January 28, showed that despite a negative image in the media, bitcoin was gaining new users and the technology has a lot of potential in the coming year. New Users While the majority of the public remains cautious about using bitcoin, the cryptocurrency has seen a marked increase in users. The number of bitcoin wallets created over the past year has doubled, and daily bitcoin transactions have risen by 50 percent. The figures don't suggest that the cryptocurrency is going to reach widespread adoption imminently, but they are a promising sign that the currency is making slow and steady progress. Related Link:New Study Shows Bitcoin Has A Long Way To Go Mining Pools Consolidate CoinDesk's report also showed that bitcoin miners had begun to consolidate, leaving only a few pools to do the majority of the processing to uncover new bitcoins. This development has been troublesome to some bitcoin supporters who say that the cryptocurrency's decentralized nature is threatened by consolidation in the mining industry as it puts the power into large firms' hands. Blockchain Troubles Ahead As bitcoin is growing in popularity, there has been a debate among supporters as to how to move forward with the growing number of transactions. Blockchain can only process between three and seven transactions per second, something that will need to change if the currency is ever to reach widespread adoption. However, the bitcoin community has struggled with how to solve this problem with some calling for increased block sizes and others saying it would be better to optimize the coin itself. In any case, many expect 2016 to be a big year in which the two sides come to a final recommendation that the entire industry can abide by. Image Credit:Public Domain See more from Benzinga • Will A More PC Barbie Revive The Brand? • Traditional Retailers Set Their Sights On Amazon • Will Facebook's Live-Streaming Efforts Trump Twitter's Periscope? © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || How big banks are paying lip service to the blockchain: IBM has high hopes for blockchain technology. The IT giant announced on Tuesday a laundry list of plans to use blockchain tech and to help developers do the same. IBM ( IBM ) will offer tools through its cloud service for building blockchain apps, and it will open up IBM "Garages" in London, New York, Singapore and Tokyo for experts to collaborate with developers on blockchain tech. Taken in tandem with the recent flurry of banks and financial institutions expressing public interest in blockchain, the technology is having a moment. In September, a slew of banks including BBVA, Citi, Credit Suisse, JPMorgan, Royal Bank of Scotland, and UBS all joined a coalition, led by a firm called R3 , to implement blockchain technology in banking. In December, five more big names hopped on board, including BNP Paribas, ING, and Wells Fargo. But the great irony of the banks' interest in blockchain is that the idea of a blockchain for traditional banking defeats the purpose of the blockchain—at least as it has been used thus far, with the digital currency bitcoin. And top executives from some of the very same institutions that have signed on to R3 have separately disparaged bitcoin. To understand what it is that banks claim to want to do with blockchain, you first need to understand the bitcoin blockchain, which is a public, decentralized ledger that records every single bitcoin transaction. Think of it like a library card in the cloud (not the card you use to take out a book, but the slip inside a book that lists all the borrowers). If you send a friend $5 worth of bitcoin, the transaction goes on the blockchain. If one bitcoin startup acquires another bitcoin startup for $500,000 in bitcoin, that, too, goes on the blockchain. And you can view the blockchain in real time, as transactions are uploaded, at blockchain.info . Transactions are added in bundles, called "blocks," by "miners," who receive a tiny fee in bitcoin as an incentive to mine. Miners use large, expensive computers to find and mine the blocks. The excitement of the bitcoin blockchain, to people in the digital currency world, is the potential for decentralized applications to be built on top of it that cut out the middle man. And the blockchain can be used to store and send anything of value, so there are companies using it to store documents like property deeds and even marriage licenses. And now: Enter the banks. They've long stayed away from bitcoin, which has a toxic public image thanks to headlines about bitcoin being used in embezzlement and Ponzi schemes. (Think of Mt. Gox and Silk Road .) MasterCard CEO Ajay Banga said he believes bitcoin "starts bumping up against societal rules, which I worry about," and that, "it doesn’t give me the safety and security of knowing that I am who I am, and I’m paying who I know, which is what traditional currency does." And yet, MasterCard ( MA ) invested in Digital Currency Group, a venture firm that has itself invested in 65 different bitcoin and blockchain-enabled businesses. JPMorgan CEO Jamie Dimon said bitcoin "is going nowhere... There is nothing behind a bitcoin, and I think if it was big, the governments would stop it." And yet, JPMorgan ( JPM ) has signed on with R3. Story continues Forget bitcoin, embrace blockchain Bitcoin is doomed, if you ask Dimon. But the blockchain—now that's exciting. As Dimon said on CNBC last month, "The blockchain is a technology, which we’ve been studying... and yes, it’s real. If it proves to be cheap and secure it will be adopted for a whole bunch of stuff." Translation: Blockchain is hot, bitcoin is not. We are seeing this sentiment again and again. IBM, in its extensive press release this week about its blockchain efforts, does not use the word "bitcoin" once. Bitreserve, a cloud banking vault launched by CNET founder Halsey Minor and led by former Barclays CIO Anthony Watson , was so eager to shed the stink of bitcoin that it changed its name to Uphold. Blockchain "is so hot right now," writes Erik Voorhees , the CEO of bitcoin startup Shapeshift, while bitcoin "has been left by the wayside, ignored like an embarrassing relative at a family gathering.” (And yet the price of bitcoin is up 24% in the last six months, 85% in the last six.) What will using blockchain tech even look like for banks? R3's web site says its mission is "building and empowering the next generation of global financial services technology." That's pretty vague. David Rutter, CEO of R3 and a former executive at London-based electronic brokerage ICAP, has said R3 will help banks and financial firms use the "fabric" of blockchain technology. You might think that people in the bitcoin world are pleased to see big, incumbent financial institutions embracing the underlying technology behind the leading cryptocurrency. They are not. Most of them see the banks' stated interest as empty lip service so far. What most people believe the banks want to do is employ something like the blockchain in their record-keeping processes: record customer deposits and withdrawals on a blockchain as opposed to whatever (likely outdated) software they currently use. Sounds simple enough. But it would have to be a closed ledger, accessible only to customers of the banks. And therein lies the contradiction: the bitcoin blockchain is public and open-sourced; nothing about it is closed. "I can see why banks are interested in using permissioned ledgers, and maybe it will make their back office more efficient," says Jerry Brito, executive director of digital currency nonprofit Coin Center. "But at the end of the day, it's not a very exciting innovation. The real innovation is a completely open and global ledger that is permission-less. Having a closed, permissioned ledger run by banks, that might allow for better auditing, but there’s no innovation there, you still have to go through a consortium to use the ledger." That is, what banks seem to want to do is incongruous to the purpose of the blockchain. Digital Currency Group's Barry Silbert, who founded SecondMarket, which allowed for the trading of stocks in non-public companies, is similarly dubious of the "blockchain for banking" theme. "I’ve spoken quite publicly about my skepticism around the private blockchain approach," he tells Yahoo Finance. If R3 doesn't yield innovative fruit, then why are banks rushing to join up? For starters, as a PR effort: once a few were involved, the others looked stodgy by delaying. But Brito also believes the interest will subside once banks actually learn more about blockchain technology. " I think right now investors are kind of waiting for Wall Street to get through this blockchain phase," he says. "They have blockchain fever and they need to just get over it. Because if they develop their own closed blockchains, soon they’ll all realize they want to talk to each other, and they’ll be back to square one, doing banking." The bitcoin blockchain is open, global and permissionless. It has potential to serve as the backbone for additional exciting applications. If traditional banks want to employ it in their way, by acting as gatekeepers, it defeats the purpose. But don't expect that to dampen their public expressions of interest just yet. This is the first in a three-part Yahoo Finance series about blockchain technology. The second part is about how you can invest in the blockchain; the third part is about the biggest names in the industry. -- Daniel Roberts is a writer at Yahoo Finance, covering sports business and technology. Read more: Bitcoin advocacy group scores funding from biggest names in industry Bitcoin industry consolidates: Why Kraken bought Coinsetter Bitcoin's biggest investor bought its biggest news site Here's a sign that PayPal is embracing Bitcoin View comments || 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. To sign up, scroll to the bottom of this page and click "Get updates in your inbox," orclick here. 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. More From Business Insider • What you need to know on Wall Street today • Hedge fund traders found a new way to pass on inside information • WHAT YOU NEED TO KNOW ON WALL STREET: The Steph Curry effect || Celltick Partners With Cable & Wireless to Bring Startscreen to Android Devices: MIAMI, FL and SAN FRANCISCO, CA--(Marketwired - Jan 19, 2016) -Celltick, a global leader in mobile marketing announces a partnership with leading Caribbean and Latin American network provider,Cable & Wireless Communications(C&W) (LSE:CWC). C&W will provide a branded, localized and customized version of Celltick's Start on its android phones across its Caribbean and Latin American markets. Start provides users with an intelligent next-generation startscreen giving users what they want most when they wake up their phones. The Start platform learns from the way users operate their phone and provides convenient productive ways to enhance the intelligence of the device. C&W users will get a new startscreen on their android devices under the C&W brands -- Flow, LIME, Mas Movil and BTC. Users will be able to better utilize their phones and personalize their devices with stickers, interactive themes as well as play games on their first screen. "Through this partnership, our customers will now have the benefit of a much more personalized, interactive start screen on their mobile device that meets their specific individual needs," said John Reid, President of C&W's Consumer Group. C&W will provide users with local 'infotainments' such as news and weather, rapid access to social media feeds, web search, latest videos and more on the startscreen. "This underscores our ongoing commitment to continuously innovate and transform the total telecommunications experience across the region," added Reid. "We're excited to partner with Cable & Wireless across its 14 mobile markets to provide an enhanced user experience for their subscribers," said Fernando Bortman, GM CALA, Celltick. "The selection of Start by C&W highlights the innovative approach that we have taken in delighting consumers and the excellence of the product." Start's growing ecosystem includes hundreds of themes, plug-ins, stickers and lockgames. Celltick's Start has been adopted by over 40 large operators, OEMs and media companies who distribute over 100M devices around the globe. In 2014, Celltick powered billions of mobile-initiated commerce transactions for virtual and physical goods serving more than 150 million active consumers across 25 countries. 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 $2.4bn, 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 video services. It has leading market positions in Mobile, Fixed Line, Broadband and Video 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 7,200 employees serving over 6.3 million customers (Mobile 4.1m; Fixed Line 1.1m; Video 465k and Broadband 680k) 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:www.cwc.com. About Celltick Celltick is a global leader in mobile marketing. Celltick's Start is a next generation personalized intelligent interface for Android devices. Celltick is unique in creating and managing mass market mobile marketing solutions for mobile operators, large media companies, device manufacturers and large brands. Celltick enables its partners to engage and monetize their users on the mobile. The company drives billions of transactions annually across more than 150 million active consumers across its different mobile platforms in over 25 countries. A rapidly growing company, Celltick has subsidiaries in Europe, Asia, South America and the U.S. For more information, visitwww.celltick.com. || Sprott Out At Namesake Gold Fund As Price Collapse Takes Toll: With gold's decline, an entire precious metals industry is in peril. And Eric Sprott's just the canary in the gold mine. [This article first appeared onIndexUniverse.comand is republished here with permission.] For those of you who regularly read my stuff, you know I love to write about charts and numbers and all sorts of nerd-ery. In this blog, I'm only going to use a single chart. If you're a gold investor, you know which chart I'm talking about: Chart courtesy ofStockCharts.com This is the nightmare chart for gold investors. The price of gold has collapsed from all-time highs of slightly more than $1,900 an ounce in fall of 2011 to near $1,235 today. Just this year, gold investors, a lot of them investing through ETFs like the SPDR Gold Trust (GLD | A-100), are down almost 27 percent, while investors in the SPDR S&P 500 Trust (SPY | A-98) are up 27 percent. You don't need to be a math whiz to recognize that this has been a terrible, terrible year for anyone who made a big rotation out of equities in the last few years and into the shiny stuff. And while it's easy to kick people when they are down, here's the thing: It's not just gold investors who got hammered. It's an entire industry that's been built on the back of the gold rally. Consider GLD all by itself for a moment. GLD's peak NAV in August last year was $184.59. On that day, there were 424 million shares outstanding, for net assets of more than $78 billion, with an implied annual fee due of $313 million a year. Today assets stand at just $33 billion—well under half their peak, with an implied fee base of $131 million a year. That's nearly $200 million that's leaving the GLD management ecosystem. I'm not expecting anyone to feel sorry for the poor ETF issuer here (State Street and the World Gold Council). Rather, I'm pointing out that decline in gold has made for some rather dramatic shifts in the investment economy. Consider Eric Sprott. I firstcame to knowof Sprott when his Physical Gold Trust launched in 2010—right in the froth of the run-up—and it was being called an "ETF" by various media sources (it's not; it's a closed-end fund). At the time, I ripped it apart for tax issues, poor marketing and various other shortcomings. That's nothing to the savaging Sprott received at the hands of one of the smartest bloggers on the Web, Kid Dynamite. Kid Dynamite has made akind of sportout of watching how Sprott's closed-end funds magically become un-closed and issue new shares when they trade to large premiums. Nothing wrong there, other than the fact that the big recipient of those nonpremium shares tended to be other Sprott funds,who could then sell them for the premium price. Nice work if you can get it. But while the various shenanigans may have worked on the way up, they've brutalized the company—and Eric Sprott—on the way down. Take their flagship closed-end gold fund, PHYS. It launched on Feb. 26, 2010. GLD investors are up 9.09 percent since then. PHYS investors are up 6.36 percent. I don't knowhowyou leave 1 percent a year on the table when your only job is to buy gold and stick it in a vault, but there you have it. The good news (if you're actually in one of Sprott's many funds) is that Sprott himself has gotten the ax, as noted by the extraordinarily unkind headline at Business Insider this morning: "One Of The Most Famous Gold Bug Fund Managers Has Gotten Obliterated." The Wall St. Journal article is a bit more professional—"Gold Drop Is Blow to Prominent Hedge-Fund Manager Sprott"—but makes hay out of the fact that his namesake hedge fund is down 50 percent in 2013. That takes work. In the end, Sprott's getting the boot, and being replaced by new management. There's a whole lot of that going on in gold circles: people getting the boot and making way for turnaround specialists to come in and clean up business. The gold miner industry is awash in panic: The bellwether ETF in the space, the Market Vectors Gold Miners fund (GDX | A-54), is down 66.4 percent since gold's peak in 2011, and down 54.49 percent just in 2013. That collapse is driven by very real work being done in the gold miner space to deal with the collapsing gold prices. Anglo American, for instance, brought in a new CEO to help make huge cuts, effect write-downs and position the company for a longer-term business. In some sense, that's all healthier than bubble economics. But that's small solace to any investor who's actually ridden Anglo American, PHYS, GDX or GLD to the ground these past few years. Of course, the question any rational investor should ask is, What's next? And that's where it becomes very difficult to read the news. In most rational sectors of the global economy, analysts are analysts. You read the reports from agricultural experts or retail-stock experts, and they generally call things as they see them. In the precious metals space, nearly every article you get off any kind of Google search will always be telling you why "Now is the time!" It's important to remember that gold—and the entire gold investment economy—is unique. Gold, by itself, is useless and valueless. It has value only because it's scarce, and then only because enough people believe its scarcity can make it a useful medium of representing value and making transactions. Gold is, essentially, an idea that people assign value to. Lots of folks believe? It goes up. Crisis of faith? It tanks. Which makes it surprisingly similar to that other highly volatile source of questionable stored-value: Bitcoin. Maybe that's where Sprott's next adventure will take him. I'll be camped firmly on the sidelines with a bowl of popcorn. At the time this article was written, the author held no positions in the securities mentioned. Contact Dave Nadig [email protected]. Recommended Stories • Bearish Inventory Report Doesn’t Change Bullish Outlook For NatGas • Record Silver Investing, Record Silver Mine Output In 2014 • NatGas Tests Top End Of Price Range After Demand Soars • Natural Gas Will Eventually Fall Below $3 • Potential Takeover Targets In The Mining Sector Permalink| © Copyright 2016ETF.com.All rights reserved || Interest In Bitcoin Mining Returns: While markets around the world suffered significant turbulence this week, bitcoinclimbed6 percent. The cryptocurrency is well known for its wild swings in valuation, but many say the digital currency is back on a more stable path and could prove a worthwhile investment in the New Year. In 2015, bitcoin fell as low, as $183 as confidence in the cryptocurrency's staying power waned. However, on Thursday, bitcoin was trading at $429, a significant increase. Mining Returns With bitcoin on the upswing, bitcoin mining has begun togain popularityonce again, according to Bloomberg. Related Link:Mike Tyson Dives Deeper Into Bitcoin When cryptocurrencies were first introduced, miners set up their computers to solve complex problems and be rewarded with the release of new coins. As the value of bitcoin went up, so did the profitability of bitcoin mining. However, last year as bitcoin prices plummeted, the number of miners significantly declined as the cost to buy hardware and pay electric bills to run the machines outweighed the rewards. Now that bitcoin has made its way higher, mining efforts are increasing – especially among those who bought the necessary hardware last year, but haven't been able to make use of it. A Risky Business While mining is gaining popularity once again, many caution that bitcoin's price isn't the only factor that drives profitability for miners. This year, bitcoin's software will reduce the number of coins that miners receive for mining activities by half, something that could have an impact on the time it takes to recoup investment costs. Not only that, but bitcoin's price is far from stable. In past years, bitcoin's wild swings in value have proven that it is difficult to predict whether the cryptocurrency will be able to continue trading at current levels, making investing in mining equipment a bit of a gamble. Image Credit: Public Domain See more from Benzinga • Should Investors Be Worried About Apple? • CES Paints Worrying Picture For Telecoms • Netflix Gains On Expansion News, But Some Still Wary © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || University of California Berkeley notifies 80,000 of cyber attack: SAN FRANCISCO (Reuters) - Officials at the University of California Berkeley said on Friday that they were alerting 80,000 people, including current and former students, faculty and vendors of a cyber attack on a system that stores social security and bank account numbers. The news comes just more than a week after a Southern California hospital paid hackers $17,000 in the digital currency Bitcoin to regain control of their computer systems after a so-called "ransomware" attack. The San Francisco Bay Area university said there was no evidence that attackers actually took any personal information, but that it was still alerting the 80,000 individuals to be on the lookout for misuse of their information. The school said a hacker or hackers gained access to its financial management software in late December due to a security flaw present when the system is updating. Officials have notified law enforcement, including the FBI, and hired a private computer investigation company. The university said among the potentially affected are 57,000 current and former students; about 18,800 former and current employees; and 10,300 vendors who work with the school. Those figures come out to about half of the school's current students and two-thirds of its active employees. Large, high-profile organizations and businesses routinely come under cyber attack, and the school said it frequently identifies similar hacking attempts. "The security and privacy of the personal information provided to the university is of great importance to us," Paul Rivers, UC Berkeley's chief information security officer, said in a statement. "We regret that this occurred and have taken additional measures to better safeguard that information." The school said it was providing credit protection service free of charge to those potentially impacted. (Reporting by Curtis Skinner in San Francisco; Editing by Sharon Bernstein) || Cable & Wireless Communications and Huawei Have Successfully Tested the First Trial of the Fastest Copper Based Broadband Service With G.fast Across Latin America: MIAMI, FL--(Marketwired - Jan 6, 2016) -Cable & Wireless CommunicationsPlc's (CWC) business unit in Panama,Cable & Wireless PanamaSA (CWP) andHuawei, a leading global information and communications technology (ICT) solutions provider, today announced the first successful trial of the fastest copper based broadband service across Latin America using leading G.fast technology. As a market leader in mobile and broadband services in Panama, CWP is also the largest telecom service provider in the country with a market leading brand, superior network coverage and excellent customer service. CWP partnered with Huawei to deploy CWC's first trial of the G.fast technology on its existing copper infrastructure. "We are excited to be partnering with Cable & Wireless Communications and together pioneering the first trial of the fastest copper fixed line broadband service with G.fast across Latin America," said Mr. Stephen Ma, CEO of Huawei for the Caribbean. "G.fast is the right way to extend the existing fixed line infrastructure to the gigabit access era by accelerating a future oriented ultra-broadband solution with unparalleled user experiences," he added. The G.fast technology trial ran for two months in Panama deploying Huawei's latest multi-service access node equipment. CWP's trial successfully achieved high speeds averaging 500 Mbps to download and 150 Mbps to upload, over its existing copper fixed lines. "We are thrilled to announce that Cable & Wireless Panama was the first market across Latin America to have successfully completed testing of the G.fast technology, which can deliver high speeds, to its customers through the fastest copper based fixed line broadband technology across the region reaching speeds of 500 Mbps," said Carlo Alloni, EVP Technology and Group CTIO, Cable & Wireless Communications. "Our strategic partnership with Huawei has strengthened our commitment to consider solutions that deliver high-speeds," added Alloni. G.fast technology is based on the Time Division Multiplexing (TDM) method with an improved algorithm that cancels the noise in the lines, reducing the effects of crosstalk and allowing transmission of higher rates of bits with a better quality, increasing the speeds of the information transmitted. Huawei's G.fast solution can complement the other technologies selected for its HFC (Hybrid fiber-coaxial) and Fibre delivery platforms. CWP's G.fast technology is providing a fivefold increase in speeds compared to any existing internet copper residential service in Panama and empowering the fastest copper fixed line broadband service across Latin America. About HuaweiHuawei is a leading global information and communications technology (ICT) solutions provider. Driven by customer-centric innovation and open partnerships, Huawei has established an end-to-end ICT solutions portfolio that gives customers competitive advantages in telecom and enterprise networks, devices and cloud computing. Its innovative ICT solutions, products and services are used in more than 170 countries and regions, serving over one-third of the world's population. Founded in 1987, Huawei is a private company fully owned by its employees. About G.fastG.fast is a digital subscriber line (DSL) standard for local loops, with performance targets between 150 Mbps and 1 Gbps, depending on loop length. Since the launch of the world's first G.FAST prototype by Huawei in December 2011, G.FAST technology has become highly anticipated by the ICT industry and has maintained strong development momentum. About C&W CommunicationsCable & Wireless Communications Plc (CWC) is a full service communications and entertainment provider, operating in the Caribbean and Latin America. With annual sales of over $2.4bn, 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 video services. It has leading market positions in Mobile, Fixed Line, Broadband and Video 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 7,200 employees serving over 6.3 million customers (Mobile 4.1m; Fixed Line 1.1m; Video 465k and Broadband 680k) 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:www.cwc.com. About CWPCable & Wireless Panama (CWP) is the market leader in mobile, broadband and fixed line services in Panama. The Company's mobile business operates under the brand name +Movil and the other businesses under + internet and +TV Digital in Panama. CWP is also a leading regional player in enterprise and managed services as well as being a leader in carrier services in partnership with our Caribbean business. || 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) || Oil drives Wall St. higher; most & least favorite stocks; Amazon clothing line: Stocks ( ^DJI , ^GSPC , ^IXIC ) are continuing their rally, boosted by higher oil prices ( CLH16.NYM) following comments from Iran about limiting oil production. Keith Bliss of Cuttone & Co. joins us live from the floor of the New York Stock Exchange to discuss the markets. Yahoo Finance's Alexis Christoforous talks about that and some of the other big stories of the day with Yahoo Finance Editor-in-Chief Andy Serwer and Yahoo Finance's Dan Roberts. Stocks you love, stocks you hate Love 'em or hate 'em? The latest filings from the Securities Exchange Commission are showing which stocks are being bought and sold by the largest investors. So far, the 13F filings are showing some of the leaders to be The Blackstone Group ( BX ), Visa ( V ), Amazon ( AMZN ), Google ( GOOGL ) and LinkedIn ( LNKD ). Pulling up the rear, we have Coca-Cola ( KO ), IBM ( IBM ), Apple ( AAPL ), Microsoft ( MSFT ), and ExxonMobil ( XOM ). Who will be the new leaders in 2016? Bitcoin push Virtual currency fans get no respect! Well, apparently that's how they feel, so Bitcoin believers are turning to a non-profit advocacy group to help lift some of the shroud of mystery surrounding cryptocurrency. Will it succeed, disrupt, or fail? Amazon clothes Would you buy your clothes from ... Amazon ( AMZN )? The online retail powerhouse hopes so. Fashion news site WWD reports the company is increasing hiring for Amazon Fashion Private Label, suggesting the line is getting closer to launch. [Random Sample of Social Media Buzz (last 60 days)] Liquid Bitcoin || Rick Ross Ft. Styles P - Bmf [Blowin' Money Fast] (Btc Intro/Clean) #Now on http://Hot412.com  #Pittsburgh || My robot has 1,060 hp left! I've earned a total of 348,930 free satoshis from http://www.robotcoingame.com/?id=5108917  #robotcoingame #Bitcoin || Litecoin Price Technical Analysis for 27/4/2015 – Seeing Parity - http://bit.ly/1GReU08  - #bitcoin #breakingpic.twitter.com/T619o0XUvV || In the last 10 mins, there were arb opps spanning 14 exchange pair(s), yielding profits ranging between $0.00 and $426.93 #bitcoin #btc || My robot has 1,912 hp left! I've earned a total of 843,150 free satoshis from http://www.robotcoingame.com/?id=5366969  #robotcoingame #Bitcoin || Liquid Bitcoin || Liquid Bitcoin || Liquid Bitcoin || Liquid Bitcoin
Trend: down || Prices: 433.50, 437.70, 435.12, 423.99, 421.65, 410.94, 400.57, 407.71, 414.32, 413.97
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 2020-02-06] BTC Price: 9729.80, BTC RSI: 69.86 Gold Price: 1565.10, Gold RSI: 56.68 Oil Price: 50.95, Oil RSI: 27.91 [Random Sample of News (last 60 days)] OneGold Launches Brand New, State-of-the-Art Mobile App: Advanced Mobile Platform Allows OneGold Customers to Buy, Sell and Redeem Precious Metals at the Touch of a Button from Anywhere at Anytime OKLAHOMA CITY, OK / ACCESSWIRE / January 13, 2020 /OneGold, a marketplace to securely and conveniently buy, sell and redeem gold and other precious metals founded by APMEX and Sprott today announced the launch of their state-of-the-art mobile app with best in class security features. The app, now available for download onAndroidandiOS, is designed for customers to effortlessly buy, sell or redeem precious metals 24/7 on any device. "We strive to consistently lead the pack in innovation and customer experience," said Ken Lewis, Chief Executive Officer at OneGold. "This mobile app will further enable our mission to ensure wealth preservation is conveniently available to everyone at the lowest possible total cost of ownership available on the market today." OneGold eliminates all traditional barriers to purchasing gold and brings the precious metals buying experience to anyone who would like to protect their wealth, immediately. It's an easy-to-use website and now mobile app, with no hidden fees, and transparent pricing. OneGold is an ideal resource for people who would like to passively save weekly, monthly or quarterly and dollar cost average the price of gold and silver over time. Then, when the customer is ready to take possession, they can convert their precious metal's holding into physical metal and APMEX will QuickShip® the same business day. Anyone who registers through the new OneGold mobile app will receive $5 for each new registration and a ‘refer a friend' bonus of an additional $5. Through an established partnership withBitPay, the largest global blockchain payments provider, Bitcoin, Bitcoin Cash, Ethereum, and various stable coins are also accepted through the OneGold mobile platform. All BitPay customers will save 2%, when using BitPay at OneGold.com. OneGold Quick Facts: • OneGold gold and silver are fully allocated physical precious metals held at the Royal Canadian Mint, a Federal Crown Corporation of the Government of Canada or held in the United States via APMEX, Brinks, or Loomis. • APMEX deep relationships to mints world-wide, allow them to offer institutional precious metals pricing direct to consumers. • Customers can link up their bank accounts, instantly verify and purchase immediately. • OneGold precious metals are 100% redeemable for physical precious metals, delivered by APMEX direct to customers' doors. • Customers can pre-fund or lock in a transaction at the price they desire while OneGold waits for the funds to be cleared. • OneGold.com is secure and accessible 24/7 via a mobile app or desktop, allowing investors to buy, sell or redeem precious metals at their convenience. • AutoInvest allows customers to set up recurring transactions to automatically execute a buy on any product, in any amount and at any frequency of their choosing. • OneGold customers can purchase gold and silver using Visa, MasterCard, Discover, AMEX, Bitcoin, Ethereum, and PayPal. • OneGold is IRA compatible and allows any self-directed IRA account holder to set up and manage their precious metals account. To learn more about OneGold visit,https://www.onegold.com/. To download the new mobile app via iOS,click hereto download the app via Android,click here. About OneGold, Inc OneGold eliminates all traditional barriers to purchasing gold and silver, bringing the precious metals buying experience to anyone looking to protect their wealth immediately. It is a very easy to use website and mobile app with transparent pricing and no hidden fees. OneGold is the partnership between precious metals leaders, APMEX, and Sprott. For almost 20 years, APMEX has been one of the nation's largest precious metals e-retailers, boasting over $10 billion in transactions. For more information, please visitwww.apmex.com. Sprott Inc. is an alternative asset manager and a global leader in precious metal and real asset investments. Sprott is based in Toronto with offices in New York, Carlsbad and Vancouver, and its common shares are listed on the Toronto Stock Exchange under the symbol (SII). For more information, please visitwww.sprott.com. Media Contact:Jeff Davidson, Interdependence PR for OneGold Email:[email protected] SOURCE:OneGold View source version on accesswire.com:https://www.accesswire.com/572756/OneGold-Launches-Brand-New-State-of-the-Art-Mobile-App || Ethereum Classic Successfully Completes ‘Agharta’ Hard Fork: Ethereum Classic successfully completed the “Agharta” hard fork at block number 9,573,000 at 06:26 UTC on Sunday, according to etcnodes.org . Similar to the network’s last backwards-incompatible upgrade in September, Atlantis , Agharta makes ethereum classic more interoperable with sister-chain ethereum. As part of the hard fork, the Constantinople and St. Petersburg upgrades deployed in tandem on the ethereum network last February will be enabled under Ethereum Classic Improvement Proposal (ECIP) 1056. The 20th largest cryptocurrency by market capitalization, ethereum classic and ethereum engaged in a messy divorce following the 2016 DAO hack. Ethereum classic community members opted to not roll back the transactions enabling the DAO hacker to steal the funds; meanwhile, ethereum hard forked, partially reclaiming the hacked funds. Related: Muir Glacier: Ethereum Hard Forks for Second Time in One Month Three years after the split, ethereum classic has engaged in efforts to rebuild community and technical ties between the two chains, Atlantis and Agharta being two measures towards that effort. As reported by CoinDesk , Constantinople included four ethereum improvement proposals (EIPs). Most code changes revolved around optimizations for developers, code edits for further scaling solutions and ethereum’s economic policy. Although different chains with different visions, ethereum classic is facing similar difficulties to ethereum, however. ETC clients evolving According to ETC Cooperative executive director Bob Summerwill, ethereum classic is showing signs of consolidation around select clients – the full servers which process network requests – similarly to ethereum. Related: BitGo Warns Users to Withdraw Bitcoin SV Over Hard Fork Threat to Wallets Parity Technologies, which recently announced its intention to step back from maintaining its code base individually, is expected to host 75 percent of the ethereum classic network as another major client, Geth Classic, is deprecated after the Agharta hard fork. Story continues “The client diversity problem on ETC is in the opposite direction [of ETH], with Parity-Ethereum dominating,” Summerwill said in the ethereum AllCoreDevs Gitter channel. “Geth Classic is being deprecated and won’t be supported after this pending fork, and it looks like most node operators are taking the advice and migrating off.” At time of writing, ethereum classic has 252 Parity Ethereum clients, 167 Geth Classic, 80 Multi-Geth and 1 Besu for a total of 500 clients. Ethereum classic developers, including Summerwill, expect the Multi-Geth and Besu clients to fill the gap. Afri Schoedon, release manager at Parity Technologies and ethereum classic hard fork coordinator, told CoinDesk that client centralization is a small concern given the state of Geth Classic and available alternatives. Schoeden said Geth Classic has hardly been updated since its launch in 2016, leading to the deprecation. “With each fork you always lose some less important nodes that are not very well maintained. We don’t worry about that,” Schoedon said. Related Stories Ethereum’s Istanbul Hard Fork Is Now Live Ethereum’s Istanbul Upgrade Will Break 680 Smart Contracts on Aragon || The top 10 finance search terms in 2019 on Yahoo Search: The pound has fluctuated significantly over the past year. Photo: Matthew Horwood/Getty Images 2019 has been a turbulent year for the British economy, from Brexit drama and a general election to stagnating growth and iconic firms hitting the wall. Some of that upheaval and uncertainty is reflected in the most-searched for finance terms by Yahoo Search users throughout the year. Here are the 10 most commonly searched terms: 10. Gold price Investors turn to perceived safe havens like gold when times are tough. There may be no yield, but the value of gold ( GC=F ) is less susceptible to market stress and interest rate decisions, providing a hedge against currency decline and inflation. With the trade row between the US and China gripping market attention for much of the year, gold’s fortunes have waxed and waned with the latest twists in the tariff war. 9. Universal credit Brexit may dominate the political agenda, but the UK government is also embarking on one of the biggest shakeups of Britain’s social security system in decades. Universal credit is gradually replacing six other benefits, rolling them into one payment for unemployed and low-income households alike. Some of the changes are complex and controversial and leave certain claimants worse-off, so high search traffic should come as no surprise. 8. Lloyds share price Lloyds is Britian's top retail bank. Photo: Dinendra Haria / SOPA Images/Sipa USA This reflects Lloyds’ ( LLOY.L ) status as one of Britain’s most-traded stocks. The UK’s biggest retail bank and mortgage lender, its UK-focused operations mean it is often seen as a convenient proxy for investors betting on or against the health of the wider UK economy. 7. House prices Property prices have continued to grow across much of Britain in recent years, but a slowdown has hit London and the south-east. Current and aspiring home-owners are often keen to keep track of the latest trends, not least as Brexit turmoil has spooked many would-be sellers and buyers alike. Rightmove is predicting prices will rise 2% in 2020. 6. Minimum wage The UK government increases the national minimum wage every year and rates vary for different age groups, meaning employees and employers both need to keep up to date with current entitlements. Story continues The minimum wage has also attracted significant political attention this year. Chancellor Sajid Javid pledged in October to raise it to two-thirds of median UK pay , while Labour promised an immediate hike from its current £8.21 rate to £10 an hour. 5. Bitcoin Bitcoin rallied after Facebook unveiled Libra. Photo: Chesnot/Getty Images The announcement of Facebook’s Libra project sparked renewed attention on cryptocurrencies like bitcoin this year. Rather than triggering competition fears from rivals, it boosted hopes that Facebook’s plans could lift the sector as a whole and prompted a rally in other cryptocurrencies. But a regulatory backlash and several major companies’ decisions to quit the project, including Visa and PayPal, have sown fresh doubts over its future. 4. Thomas Cook collapse The collapse of the world’s oldest travel firm earlier this year not only marked the end of an era, but also left more than a million people out of pocket. The UK government had to oversee the biggest peacetime repatriation effort in history, flying home 150,000 stranded customers. Staff told Yahoo Finance UK they feared for their homes, and many customers were still waiting for refunds for cancelled bookings from the authorities even after a 90-day deadline earlier this month. 3. London Stock Exchange The latest share price movements and announcements from Britain’s major listed companies naturally drew significant search traffic from readers in the business world. But the London Stock Exchange itself ( LSE.L ) also attracted significant attention after receiving and starkly rejecting a surprise £32bn takeover bid from Hong Kong in September. 2. Forex The pound’s fortunes against the dollar ( GBPUSD=X ) and euro ( GBPEUR=X ) have dovetailed with the latest Brexit developments. Investors have taken flight on the several occasions Britain has looked on course for a radical break with the EU , which would devastate trade ties. First Theresa May and then Boris Johnson took Britain close to the cliff-edge as prime ministers ahead of two Brexit deadlines that were eventually missed in 2019. 1. Brexit Prime Minister Boris Johnson drives a Union Jack-themed JCB in the election campaign. Photo: PA The B-word has dominated political debate in Britain for much of 2019, from the TV studios to family living rooms. While Brexit has bored some and frustrated others, it has clearly gripped the attention of large swathes of the country. With countless political, economic and other consequences that could be felt for decades to come, Brexit was the most searched-for finance term in 2019. || Amazon To Employee Climate Activists: Toe The Line Or Get Fired: Seattle-based e-commerce giant Amazon.com Inc. (NASDAQ: AMZN ) is threatening employees with consequences for speaking publicly about its business, an Amazon employee union said in a statement on Thursday. What Happened The Amazon Employee For Climate Justice (AECJ) said that some of the workers had been questioned by the company's legal and human resources department representatives regarding their public comments related to Amazon's role in fighting global climate change. The workers received follow-up emails after the questioning, threatening termination if they continue to engage in public discourses around Amazon's business, according to AECJ. One of the emails sent to an employee activist Maren Costa warned her that future infractions could "result in formal corrective action, up to and including termination of your employment with Amazon," the Washington Post reported . The Amazon lawyer warned Costa to "review the policy again and in the future anytime you may consider speaking about Amazon's business in a public forum," according to the Post. All Companies Have Similar Policies, Says Amazon An Amazon spokeswoman Jaci Anderson told the Post that Amazon's policy is "not new," and is in line with the policies of other major companies. Anderson said that employees are "encouraged" to work within their teams and give feedback through internal channels. "As with any company policy, employees may receive a notification from our HR team if we learn of an instance where a policy is not being followed," Anderson told the Post in an emailed statement. Why It Matters There has been a standoff between the management of new-aged technology giants and their employees over freedom of speech and the right of the workers to unionize recently. In November last year, Google's parent company Alphabet Inc. (NASDAQ: GOOGL ) fired four activist employees for alleged "data breach." The workers had protested the company's decision to work with the U.S. Customs and Border Protection (CBP) and Immigration and Customs Enforcement (ICE) on account of human rights violation. Story continues Price Action Amazon's shares closed 2.72% higher at $1,898.01 on Thursday. The shares traded 1.47% lower in after-hours market. 0 See more from Benzinga Markets In Asia, Europe Fall As Middle East Tension Erases New Year Optimism Crypto Market Wrap: Bitcoin And Hard Forks Make Gains, Litecoin, EOS The Biggest Losers Interpol Issues Wanted Notice To Lebanon After Former Nissan Chairman's Escape From Japan © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Binance Now Lets Users Borrow Against Crypto Holdings to Fund Futures Trades: Malta-based Binance, one of the world’s top cryptocurrency exchanges by trading volume, now allows users put up their crypto holdings as collateral to fund futures trading. Launched soon before press time, the new “Cross Collateral” feature means users can trade futures contracts using assets stored in their Binance exchange wallet as collateral, without the need to use their coins to directly fund orders. Traders using the service can currently borrow tether (USDT) at zero percent interest against holdings of Binance USD (BUSD) – the exchange’s own stablecoinissued in partnershipwith New York-regulated firm Paxos – thereby eliminating the need to transfer BUSD to a futures wallet. Related:Former OKEx Exec to Raise $40M for Crypto Derivative Exchange Aaron Gong, director of Binance Futures, said users of the exchange can expect additional tokens to be supported in the “near future.” “Cross Collateral is a much-anticipated feature for traders on Binance, allowing more flexibility and more choices of deposits to open futures positions,” said Gong. The Binance Futures platform gives users the opportunity to trade 13 pairs with high leverage, and also to hedge existing positions to manage their risk. To date, users can trade BTC contracts with a leverage of up to 125x, the highest among major crypto exchanges. Binance alsosaid Tuesdayit’s adjusting its fee structure to encourage market makers to add liquidity to its futures platform. Under the revised Binance Futures Market Maker Program, market makers will receive a negative fee for placing trades on selected pairs. Full details are yet to be released. • Binance Will Soon Reward Market Makers for Providing Futures Liquidity • Winklevoss Twins’ Crypto Exchange Adds TradingView Integration • Winklevoss Patents Tout Use Case for Gemini Stablecoin Tech in Banking || Bitwise reiterates commitment to delivering a Bitcoin ETF: Asset management company Bitwise has sent a new letter to the US Securities and Exchange Commission (SEC) reiterating its commitment to delivering a Bitcoin ETF, asserting that it would add protections to retail investors entering the crypto market. The SEC rejected Bitwise’s proposal back in October , claiming that the proposed ETF would not meet legal requirements for the prevention of market manipulation nor prevent other illicit activities. Bitwise has now responded claiming that a Bitcoin ETF would allow new investors to participate in the cryptocurrency markets through the safety of a regulated financial instrument. Commenting on the rise of young investors taking an interest in digital assets, the letter reads: “The number of US investors—particularly younger investors—making allocations to Bitcoin can surprise people who don’t focus on this market on a day-to-day basis.” The letter also voices concern over existing ways to enter the cryptocurrency markets, stating there are a number of pitfalls for retail investors which may be solved through an ETF – such as high fees and the danger of losing funds through inadequate security. The letter continues: “This security risk is particularly acute at the individual level, where the loss of a password or the illicit porting of a cell phone can lead to a complete loss of assets.” Bitwise also states that while it agrees that the SEC needs to make its decision according to the Exchange Act, the current dangers to crypto buyers add increasing urgency to the ETF approval process. Will a Bitcoin ETF ever be approved? Many digital asset experts have speculated that a Bitcoin ETF will never be on the cards as long as SEC chairman Jay Clayton presides over the decision. US lawyer Jake Chervinsky tweeted following the rejection of the Bitwise ETF that it is reasonable to assume that Jay Clayton’s SEC “ will never approve a Bitcoin ETF “. Chervinsky also previously said that the chance of the ETF being approved was just 0.01%. Story continues Bitwise has met with SEC officials and submitted proposals several times over the course of this year since its first filing in January 2019. However, the repeated rejections haven’t dampened Bitwise’s enthusiasm for a Bitcoin ETF, as the company concluded: “Bitwise is committed to creating a Bitcoin ETF that provides all investors with the ability to access Bitcoin in a regulated and familiar fund format with the transparent and robust disclosures required by the federal securities laws.” The SEC has yet to respond to Bitwise’s latest letter, but the regulator has said that it is “ reconsidering ” the proposal. The post Bitwise reiterates commitment to delivering a Bitcoin ETF appeared first on Coin Rivet . || Is Bitcoin Getting Ready For Take-Off?: The decline of the hash rate, downward price waves, and the general negative news background have led to the fact that some market participants expect theBitcoin to fall downto $5,800. Although compared to the price levels a year ago, Bitcoin is more than 100% more expensive, such sentiment has become possible again in part due to the news from China. In addition to negative indicators, there are a number of reasons to expect the growth of the benchmark cryptocurrency. In particular, the technical analysis showed the formation of a “golden cross” on the weekly chart, which may indicate the approaching growth of the asset. Last time 50 and 100 – daily moving averages (when the line with a longer period crosses the line with a shorter period from top to bottom), crossed in May 2016. Although it took quite a long time before the historic 2017 rally began, the price level reached by the Bitcoin, was worth it. It should be noted that this time it may take quite a long time too, but at least it may indicate the approaching of the local bottom. In addition to the “golden cross”, Whale Alert reported on December 9 about the creation of USDT tokens worth $200 million, which have not yet entered the crypto market. The Bitcoin rally in December 2017 is most actively associated with USDT market pump. However, if this is the case, it is a manipulation dreamed of all Bitcoin and other cryptocurrency holders. In addition to events from the crypto world, there is another supposed factor to support the cryptocurrency market. This is a traditional market that is experiencing a number of serious problems, which may result in a massive sell-off. Endless trade wars, a stock market bubble, central bank monetary policies, populism, and the breaking of ties even between allies can all be a serious force of support for Bitcoin and stablecoins. Although the cryptocurrency market is frightening with its volatility, it can still attract some of the funds of investors taking profits on the traditional market. If we are talking about the traditional market, it is worth remembering the launch of Bakkt’s settlement futures and options. The launch took place according to the schedule, and the market participants were pleasantly surprised by the volumes. The platform showed 1250BTC, which contrasts sharply with 72 BTC in September, when the delivery futures were launched. Everything indicates the readiness of the company to seriously strengthen its market position, in addition, all this is happening with the official permission of the CFTC. And this last factor, rather, causes fears among market participants, as nobody seriously believes in support of cryptocurrencies by the U.S. government and institutional investors. This article was written byFxPro Thisarticlewas originally posted on FX Empire • Copper attempting a fresh breakout • Is Bitcoin Getting Ready For Take-Off? • Gold Price Forecast – Gold Markets Continue To Struggle • Silver Price Forecast – Silver Markets Continue Slow Grind • USD/JPY Price Forecast – US Dollar Building A Base • EUR/USD Price Forecast – Euro To Continue Consolidation || Litecoin Soars 46% In a Green Day: Investing.com - Litecoin was trading at $81.201 by 14:36 (19:36 GMT) on the Investing.com Index on Monday, up 45.73% on the day. It was the largest one-day percentage gain since January 6. The move upwards pushed Litecoin's market cap up to $2.888B, or 1.39% of the total cryptocurrency market cap. At its highest, Litecoin's market cap was $14.099B. Litecoin had traded in a range of $43.316 to $81.203 in the previous twenty-four hours. Over the past seven days, Litecoin has seen a rise in value, as it gained 5.88%. The volume of Litecoin traded in the twenty-four hours to time of writing was $3.231B or 4.10% of the total volume of all cryptocurrencies. It has traded in a range of $38.9723 to $81.2033 in the past 7 days. At its current price, Litecoin is still down 99.98% from its all-time high of $421,092.53 set on December 27, 2019. Bitcoin was last at $7,550.7 on the Investing.com Index, up 1.23% on the day. Ethereum was trading at $141.33 on the Investing.com Index, a gain of 2.28%. Bitcoin's market cap was last at $137.739B or 66.08% of the total cryptocurrency market cap, while Ethereum's market cap totaled $15.522B or 7.45% of the total cryptocurrency market value. Related Articles Juventus Soccer Club’s Fans Choose New Goal Song via Tokenized Platform Price Analysis Jan 06: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XLM, XMR 2019 to 2020: Insiders, Outsiders and Experimenters in Crypto Regulation, Part 3 || 2019 Africa Roundup: Jumia IPOs, China goes digital, Nigeria becomes fintech capital: 2019 brought more global attention to Africa's tech scene than perhaps any previous year. A high-profile IPO, visits by both Jacks (Ma and Dorsey) and big Chinese startup investment energized that. The last 12 months served as a grande finale to 10 years that saw triple-digit increases in startup formation and VC on the continent. Here’s an overview of the 2019 market events that captured attention and capped off a decade of rapid growth in African tech. IPOs The story of the year is the April IPO on the NYSE of Pan-African e-commerce company Jumia. This was the first listing of a VC-backed tech company operating in Africa on a major global exchange — which brought its own unpredictability. Founded in 2012, Jumia pioneered much of its infrastructure to sell goods to consumers online in Africa. With Nigeria as its base market, the Rocket Internet-backed company created accompanying delivery and payments services and went on to expand online verticals into 14 African countries (though it recently exited a few ). Jumia now sells everything from mobile phones to diapers, and offers online services such as food-delivery and classifieds. Seven years after its operational launch, Jumia's stock debut kicked off with fanfare in 2019, only to be followed by volatility. The online retailer gained investor confidence out of the gate, more than doubling its $14.95 opening share price post-IPO. That lasted until May, when Jumia’s stock came under attack from short-seller Andrew Left, whose firm Citron Research issued a report accusing the company of fraud. The American activist investor's case was bolstered, in part, by a debate that played out across Africa’s tech ecosystem on Jumia’s legitimacy as an African startup, given its (primarily) European senior management. The entire affair was further complicated by Jumia's second-quarter earnings call when the company disclosed a fraud perpetrated by some of its employees and sales agents. Jumia's CEO Sacha Poignonnec emphasized the matter was closed, financially marginal and not the same as Andrew Left's short-sell claims. Pan-African e-tailer Jumia grows 3Q revenue, e-payments and losses Whatever the balance, Jumia's 2019 ups and downs cast a cloud over its stock with investors. Since the company's third-quarter earnings-call, Jumia's NYSE share-price has lingered at around $6 — less than half of its original $14.95 opening, and roughly 80% lower than its high. Even with Jumia's post-IPO rocky road, the continent’s leading e-commerce company still has a heap of capital and is on pace to generate more than $100 million in revenues in 2019 (albeit with big losses). Story continues The company plans to reduce costs by generating more revenue from higher-margin internet services, such as payments and classifieds. There's a fairly simple equation for Jumia to rebuild shareholder confidence in 2020: avoid scandals and increase revenues over losses. And now that the company is publicly traded — with financial reporting requirements — there'll be four earnings calls a year to evaluate Jumia's progress. Jumia may not be the continent's standout IPO for much longer. Events in 2019 point to Interswitch becoming the second African digital company to list on a global exchange in 2020. The Nigerian fintech firm confirmed to TechCrunch in November it had reached a billion-dollar unicorn valuation, after a (reported) $200 million investment by Visa. Nigeria’s Interswitch confirms $1B valuation after Visa investment Founded in 2002 by Mitchell Elegbe , Interswitch created much of the initial infrastructure to digitize Nigeria’s (then) predominantly cash-based economy. Interswitch has been teasing a public listing since 2016, but delayed it for various reasons. With the company's billion-dollar valuation in 2019, that pause is likely to end. “An [Interswitch] IPO is still very much in the cards; likely sometime in the first half of 2020,” a source with knowledge of the situation told TechCrunch. China-Africa goes digital 2019 was the year when Chinese actors pivoted to African tech. China is known for its strategic relationship with Africa, based (largely) on trade and infrastructure. Over the last 10 years, the country has been less engaged in the continent's digital scene. china africa tech That was until a torrent of investment and partnerships this past year. July saw Chinese-owned Opera raise $50 million in venture spending to support its growing West African digital commercial network, which includes browser, payments and ride-hail services. In August, San Francisco and Lagos-based fintech startup Flutterwave partnered with Chinese e-commerce company Alibaba’s Alipay to offer digital payments between Africa and China. In September, China's Transsion — the largest smartphone seller in Africa — listed in an IPO on Shanghai’s new STAR Market. The company raised ≈ $394 million, some of which it is directing toward venture funding and operational expansion in Africa. The last quarter of 2019 brought a November surprise from China in African tech. More than 15 Chinese investors placed over $240 million in three rounds. Transsion-backed consumer payments startup PalmPay raised a $40 million seed , stating its goal to become “Africa’s largest financial services platform.” Chinese investors also backed Opera-owned OPay's $120 million raise and East-African trucking logistics company Lori Systems' (reported) $30 million Series B. In the new year, TechCrunch will continue to cover the business arc of this surge in Chinese tech investment in Africa. There'll surely be a number of fresh macro news points to develop, given the debate (and critique) of China’s engagement with Africa. Nigeria and fintech On debate, the case could be made that 2019 was the year when Nigeria become Africa’s unofficial capital for fintech investment and digital finance startups. Kenya has held this title hereto, with the local success and global acclaim of its M-Pesa mobile-money product. But more founders and VCs are opting for Nigeria as the epicenter for digital finance growth on the continent. Nigeria naira A rough tally of 2019 TechCrunch coverage — including previously mentioned rounds — pegs fintech-related investment in the West African country at around $400 million over the last 12 months. That's equivalent to roughly one-third of all startup VC raised for the entire continent in 2018, according to Partech stats . From OPay to PalmPay to Visa — startups, big finance companies and investors are making Nigeria home-base for their digital finance operations and Africa expansion strategies. The founder of early-stage payment startup ChipperCash, Ham Serunjogi , explained the imperative to operating there. “Nigeria is the largest economy and most populous country in Africa. Its fintech industry is one of the most advanced in Africa, up there with Kenya and South Africa,” he told TechCrunch in May . When all the 2019 VC numbers are counted, it will be worth matching up fintech stats for Nigeria to Kenya to see how the countries compared. Acquisitions Tech acquisitions continue to be somewhat rare in Africa, but there were several to note in 2019. Two of the continent's powerhouse tech incubators joined forces in September, when Nigerian innovation center and seed-fund CcHub acquired Nairobi-based iHub, for an undisclosed amount. CChub ihub Acquisition The acquisition brought together Africa’s most powerful tech hubs by membership networks, volume of programs, startups incubated and global visibility. It also elevated the standing of CcHub's Bosun Tijani across Africa's tech ecosystem, as the CEO of the new joint entity, which also has a VC arm. CcHub CEO Bosun Tijani1 CcHub/iHub CEO Bosun Tijani In other acquisition activity, French television company Canal+ acquired the ROK film studio from Nigerian VOD company IROKOtv for an undisclosed amount. The deal put ROK founder and producer Mary Njoku in charge of a new organization with larger scope and resources. Many outside Africa aren't aware that Nigeria's Nollywood is the Hollywood of the continent, and one of the largest film industries in the world (by production volume). Canal+ told TechCrunch it looks to bring Mary and the Nollywood production ethos to produce content in French-speaking African countries. Other notable 2019 African tech takeovers included Kenyan internet company BRCK's acquisition of ISP Surf , Nigerian digital-lending startup OneFi's Amplify buy and Merck KGaa's purchase of Kenya-based online healthtech company ConnectMed. Moto ride-hail mania In 2019, Africa’s motorcycle ride-hail market — worth an estimated $4 billion — saw a flurry of investment and expansion by startups looking to scale on-demand taxi services. Uber and Bolt got into the motorcycle taxi business in Africa in 2018 . Ampersand Africa e motorcycle Ampersand in Rwanda A number of local and foreign startups have continued to grow in key countries, such as Nigeria, Uganda and Kenya. A battle for funding and market share emerged in Nigeria in 2019 , between key moto ride-hail startups MAX.ng, Gokada and Opera-owned ORide. The on-demand motorcycle market in Africa has attracted foreign investment and moved toward EV development. In May, MAX.ng raised a $7 million Series A round with participation from Yamaha and is using a portion to pilot renewable energy powered e-motorcycles in Africa. In August, the government of Rwanda announced a national policy to phase out gas-motorcycle taxis altogether in favor of e-motos, in partnership with early-stage EV startup Ampersand. New funds The past year saw several new funding initiatives for Africa's startups. Senegalese VC investor Marieme Diop spearheaded Dakar Network Angels , a seed-fund for startups in French-speaking Africa — or 24 of the continent’s 54 countries. Africinvest teamed up with Cathay Innovation to announce the Cathay Africinvest Innovation Fund, a $100+ million capital pool aimed at Series A to C-stage startup investments in fintech, logistics, AI, ag tech and education tech. Accion Venture Lab launched a $24 million fintech fund open to African startups. And Naspers offered more details on who can pitch to its 1.4 billion rand (≈$100 million) Naspers Foundry fund, which made its first investment in online cleaning services company SweepSouth . Closed up shop Like any tech ecosystem, not every startup in Africa killed it or even continued to tread water in 2019. Two e-commerce companies — DealDey in Nigeria and Afrimarket in Ivory Coast — closed up digital shop. Southern Africa's Econet Media shut down its Kwese TV digital entertainment business in August. And South Africa-based, Pan African-focused cryptocurrency payment startup Wala ceased operations in June. Founder Tricia Martinez named the continent's poor infrastructure as one of the culprits to shutting down. A possible signal to the startup's demise could have been its 2017 ICO , where Wala netted only 4% of its $30 million token offering. Africa's startups go global 2019 saw more startups expand to new markets abroad products and business models developed in Africa. In March, FlexClub — a South African venture that matches investors and drivers to cars for ride-hailing services — announced its expansion to Mexico in a partnership with Uber. In May, Extra Crunch profiled three African-founded fintech startups — Flutterwave, Migo and ChipperCash — developing their business models strategically in Africa toward plans to expand globally. These startups are locating in SF and Africa to win in global fintech By December, Migo (formerly branded Mines) had announced its expansion to Brazil on a $20 million Series B raise. 2020 and beyond As we look to what could come in the new year and decade for African tech, it's telling to look back. Ten years ago, there were a lot of "if" questions on whether the continent's ecosystem could produce certain events: billion-dollar startup valuations, IPOs on major exchanges, global expansion, investment from the world's top VCs. All those questionable events of the past have become reality in African tech, even if some of them are still in low abundance. There's no crystal ball for any innovation ecosystem — not the least Africa's — but there are several things I'll be on the lookout for in 2020 and beyond. In the near term I'll start with what Twitter/Square CEO Jack Dorsey may do around Bitcoin and cryptocurrency on his return to Africa (lookout for an upcoming TechCrunch feature on this). I'll also follow the next-phase of e-commerce in Africa, which could pit Jumia more competitively against DHL's Africa eShop , Opera and China's Alibaba (which hasn't yet entered Africa in full). On a longer-term basis, a development to follow is how the continent's first wave of millionaire and billionaire tech-founders could disrupt 21st century dynamics in Africa around politics, power and philanthropy — hopefully for the better. More notable 2019 Africa-related coverage @TechCrunch Nigeria’s #StopRobbingUs campaign could spur tech advocacy group, CEOs say Africa can list more gazelles at home than unicorn IPOs abroad Kenya’s Twiga Foods eyes West Africa after $30M raise led by Goldman Africa-focused Andela cuts 400 staff as it confirms $50M in revenue Facebook’s latest account purge exposes Africa’s misinformation problem Ethiopia’s bid to become an African startup hub hinges on connectivity Lessons from M-Pesa for Africa’s new VC-rich fintech startups View comments || Chainalysis Report on PlusToken ‘Scammers’ Blamed for Monday’s Crypto Selloff: As bitcoin and ether prices fell below technically significant levels, some traders are citing fear emanating from a report about the alleged PlusToken Ponzi scheme as the reason for the plunge. The slide began at 18:28 UTC on Monday. In just seven minutes, bitcoin slipped 4 percent, to $6,800 from $7,085 according to data from Coinbase. In that time, ether took a bigger hit, dropping 7 percent from $140 to $130. Neither had seen such lows since Nov. 25, when the crypto markets suffered a temporary selloff. With little news to go on, the markets found at least one culprit: Chainalysis’ new report , published nearly four and a half hours earlier in the day, saying 20,000 BTC (now worth $137 million) and 790,000 ETH (now worth $102 million) remain likely controlled by PlusToken “scammers.” Related: Chinese City Warns Investors: Crypto Isn’t Blockchain Further, Chainalysis claims $185 million in stolen bitcoin have already been liquidated by individuals related to PlusToken. Six people tied to PlusToken were arrested and extradited to China from Vanuatu, where Beijing claimed the company operated a Ponzi scheme. Chainalysis said it was able to track down $2 billion in cryptocurrencies taken from victims, with a lot of that going to other “investors” – a hallmark of traditional pyramid schemes. The arrests occurred a little more than a week before bitcoin reached its 2019 peak of $12,575.90. Since then, the cryptocurrency, which represents the lion’s share of the sector’s overall market cap, has drifted downward. While Chainalysis wouldn’t say for certain that liquidations from PlusToken-related accounts sunk bitcoin’s price, the blockchain forensics firm was willing to claim “that those cashouts cause increased volatility in Bitcoin’s price, and that they correlate significantly with Bitcoin price drops.” A trader at an over-the-counter cryptocurrency broker attributed Monday’s steep decline to jitters that more of PlusToken’s ill-gotten bitcoin and ether was going to flood the market. Story continues Related: Bitmain’s Miner Manufacturing Subsidiary Had $680K in Assets Frozen in a Contract Dispute “This [Chainalysis post] may have something to do with it, driving a little bit of fear among participants,” he told CoinDesk, quickly adding: “It’s not news. I’m not sure why that story is driving the market. People see stuff on Twitter and make their own conclusions. It’s largely the tail wagging the dog.” Related Stories China’s SEC May Soon Have a Crypto-Savvy Department Chief: Report Implosion: MATIC Erases Four-Week Rally in Just Two Days [Random Sample of Social Media Buzz (last 60 days)] None available.
Trend: up || Prices: 9795.94, 9865.12, 10116.67, 9856.61, 10208.24, 10326.05, 10214.38, 10312.12, 9889.42, 9934.43
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)] US$160M C&W Investment for Barbados: BRIDGETOWN, BARBADOS--(Marketwired - Jul 16, 2015) - C&W is investing US$160M in Barbados as the Company rolls out its new retail brand Flow on the island as part of its merger with Columbus Communications. Barbados is the first country to launch the newly combined retail brand. Niall Sheehy, Country Manager of the 'new' Flow, revealed a number of significant developments for Barbados. "What we have today is the product of two legacies working in unison to meet our customers' needs," said Sheehy. Under the new consumer brand Flow, the company has combined the strengths of the former LIME and Flow organisations and is positioning Barbados as the first country in the world with 100% Fibre-to-the-Home (FTTH) broadband connectivity. The FTTH network will allow the Company to bring new and cutting edge services to its customers. As a start, customers will receive telephone (mobile and landline) video, audio, television and just about any other kind of digital data stream using Flow's comprehensive FTTH broadband connection. Sheehy indicated that the consumers will benefit from bundling of products, new and exciting apps and the ability to access products and services from a variety of platforms, via its network. Sheehy also outlined other aspects of the company's investments in Barbados as the Company rolls out its new consumer brand. "We have already moved into our new corporate home in Warrens (formerly the Orange Mall) and on August 1, we will officially transition from our Customer Care Centre at SkyMall to a new retail store under the Flow brand. This new retail outlet will serve as the touch-point for all our products and services of the combined entity," he said. "Customers will still be able to access a full Flow Customer Service Centre at Windsor Lodge (formerly LIME)," added Sheehy. "These changes are part of a wider plan to ensure that our newly combined company meets our stated goal of putting the customer at the heart of what we do." Sheehy also informed that the company is currently transitioning all of its products and services to the Flow brand. He noted that the transition phase will take some time, during which customers may still see communications using the former LIME and Flow brands. 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. || Wedbush Predicts A Bright Future For Bitcoin: In areportauthored by Gil Luria and Aaron Turner, Wedbush Securities predicted a bright future for the Bitcoin Investment Trust as well as for the cryptocurrency itself. Though the firm acknowledged the volatility risks associated with bitcoin, it said it ultimately sees the currency continuing to penetrate new markets and expand across the globe. Publicly Traded Bitcoin TheBitcoin Investment Trust(OTC:GBTC) became the first ever publicly traded bitcoin fund back in March and has since garnered a lot of attention. Wedbush analysts said they see bitcoin's growing popularity pushing GBTC from its current valuation of $30.60 to $40 by next year. Related Link:Bitcoin: The Best Currency For Greece And Other Debt-Ridden Countries? Bitcoin Transactions On The Rise The firm also said that it saw bitcoin increasing in value to as much as $400 in the coming year as more and more people adopt the currency to facilitate online transactions. Wedbush said that the relatively low-cost transaction fees associated with using bitcoin will give the currency a leg up against other e-commerce payment methods like credit cards orPay Pal. Banking For The Unbanked Wedbush analysts also said they saw potential for bitcoin in developing and struggling economies where the financial system isn't very secure or accessible. The firm cited the situation in Greece and the rise in bitcoin's popularity as capital controls took hold of the nation's financial institutions as a good indicator of bitcoin's potential in that arena. Risks Still Evident While the Wedbush report was mostly positive, the firm did acknowledge the potential for uncertainty when it comes to bitcoin trading. The company underscored that the currency does have a history of volatile price swings and that there is a possibility that bitcoin will lose the majority of its value. Latest Ratings for GBTC [] View More Analyst Ratings for GBTCView the Latest Analyst Ratings See more from Benzinga • Which Crisis Is Worse: Greece Or China? • Can The Fed Really Raise Rates Amid All This Chaos? • When Luxury Goes Digital © 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 the SPDR 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. The SPDR Dow Jones Industrial Average ETF (NYSE: DIA ) is trading near the flat line, while the iShares 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. The iPath 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 had closed 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 a tremendous wave of 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. Story continues Image Credit: Public Domain See more from Benzinga Home Construction, Treasury And Automobile ETFs To Watch This Week Best And Worst ETFs Of The Week Amid Agriculture Rally 3 Core ETFs For Growth Investors © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Google vs Apple: Which will be better in 11 years?: Google went public 11 years ago, and early buyers have done alright for themselves. Class A shares have enjoyed a a split-adjusted gain of nearly 1,300 percent since their first close. "Fast Money" traders believe the company's prospects looks just as promising in the 11 years to come. They contended that Google(GOOGL)holds more upside than technology giant Apple(AAPL), currently the largest company in the world by market capitalization. "I'd rather go with Google, which has multiple revenue streams and they've also shown to be a much better venture capitalist" through acquisitions, said trader Brian Kelly. Kelly expressed concern about Apple's possible reliance on the iPhone for growth in a "saturated" smartphone market. He noted that Google has branched out through acquisitions like YouTube and internal investments. Trader Karen Finerman-who owns Google personally and Apple through her firm Metropolitan Capital Advisors-also touted the variety of businesses at Google and its "moon shot" projects. The company later this year will set up a new operating structure under a holding company Alphabet, which will house its newer projects like Internet service, health services and self-driving cars. Read MoreGoogle's Alphabet move was brilliant Google looks more appealing as it seems "very hard to be replicated," added trader Guy Adami. Trader Tim Seymour-who owns both stocks-also prefers Google, saying it holds a place as "one of the most important companies in the world." Disclosures: Tim Seymour Tim Seymour is long AAPL, T, BAC, DIS, F, GE, GM, GOOGL, INTC, JPM, Tim's firm is long BABA, BIDU, MCD, NKE, NOK, SBUX, YHOO. Brian Kelly Brian Kelly is long BBRY, BTC=; ITB, TAN, TSL, the VIX, TWTR call spread, Euro; he is short AUDJPY, GBPJPY, Yuan. Today he bought Euro. Today he sold US dollar. Today he closed his short position in Yen. Karen Finerman Karen is long BABA, BAC, C, FINL, FL, GOOG, GOOGL, JPM, KORS, M, BABA puts, she is short SPY, Her firm is long ANTM, AAPL, BAC, C, DIS, FBT, FINL, FL, GOOG, GOOGL, GPS, IBB, JPM, KORS, M, SUNE, URI, XBI, KORS call spreads, SUNE call spreads, KORS puts, SUNE puts, her firm is short IWM, SPY, MDY, Karen Finerman is on the board of GrafTech International. Guy Adami Guy Adami is long CELG, EXAS, INTC, Guy Adami's wife, Linda Snow, works at Merck. More From CNBC • Top News and Analysis • Latest News Video • Personal Finance || Digital-Based Markets Ramp Up in 2015, Lead By Under-the-Radar Gems: SALT LAKE CITY, UT / ACCESSWIRE / August 25, 2015 / In 2015, digital-based markets have emerged as standard bearers across the entire financial landscape. Mobile gaming, in particular, has stood out as a front-runner in the digital sector, with mobile games projected to gross between 20 and 30 billion this year alone. These games can be programmed and sold inexpensively allowing mobile gaming companies to thrive thanks to low production costs and budget expenses. Meanwhile, in-app purchases often entice consumers to spend ever-increasing amounts for digital content. When a new, free-to-play mobile game goes viral, but offers numerous in-game purchases, total revenues resulting from a single game can be substantial. While the viral, swift dominance of the mobile gaming industry isn't news to most, the important thing for investors is the ability to identify which companies have the potential to be the next big thing. One possible candidate is Tapinator Inc (TAPM) . In the last two trading sessions, TAPM has experienced big gains, rising over 60% to settle in at .255 per share. The company continues to crack Google Play's lists of the most popularly downloaded mobile games, and Tapinator's recent financial and operating results demonstrated quarterly revenues that grew 172% year-over-year and 49% quarter over quarter. Tapinator was also able to eliminate all previously outstanding debt via a financing transaction that improved the company's liquidity. This is the company's fifth quarter in a row with substantial revenue growth. Coupled with a consistent schedule of newly released games, such as the extremely popular Burn It Down , which became a Top 50 iOS game, Tapinator appears to be on the right track for sustained long term growth. Average new daily downloads are up 268% year-over-year and 139% sequentially. In this industry, that kind of activity can only be achieved through strong word-of-mouth marketing and customer loyalty, which are the keys to producing the next big game to go viral. Story continues Also making waves in the digital sector is Avra, Inc Digital Currencies (AVRN) . Like Tapinator, Avra is a potential new leader in their field that has also experienced recent gains. The company saw heavy volume on Friday that raised its stock up 27%, even despite downward trends in the Dow and Nasdaq figures for that particular session. Avra aims to be one of the first major players to bring one of the internet's biggest phenomena bitcoin to the masses. Bitcoin is a digital currency traded online to make payments and buy merchandise. It exists without the regulation of a centralized banking system, which allows for lower fees, faster service, and less hassle. Avra's systems specialize in the use of bitcoin for the purpose of travel-based purchases in popular tourist stops like casinos, hotels, and airports. The locations targeted by the company are frequented by a tech-savvy demographic that falls between the ages of 21 and 35. Using bitcoin for their purchases allows for an easy, quick, and safe method of payment for customers who tend to be pressed for time and seeking an easy payment method. Ekso Bionics Holding s, Inc. (EKSO) is another new player in digital technologies with a product that has potential to break into a number of markets like healthcare, military, and consumer. Trading at 1.10 per share with an average volume of 731K, the company manufactures wearable bionic exoskeletons that increase human strength, endurance, and mobility - a product with multiple purposes such as aiding the disabled or increasing the efficiency of military tactics. The company has gained traction recently with a software upgrade earlier in the summer, and its CEO appearing on FOX Business Network at the beginning of August. For investors interested in TAPM or EKSO, a company with a similar profile is Anavex Life Sciences Corp (AVXL) , a clinical-stage bio pharmaceutical company with a varied portfolio of potential drug candidates to treat CNS disorders such as Alzheimer's. AVXL trades at 1.46 with a market cap of over 175M. With multiple industries driving toward digital products and services, the tech giants of today could soon be yesterday's news, supplanted by young companies on the rise like Tapinator, Inc. or Avra. Mobile gaming in particular is one of the most exciting, rapidly moving sectors on Wall Street. A stock like TAPM could be the seed that fuels growth for investors. DISCLAIMER: Seraphim Strategies is a third party publisher. Not a registered broker/dealer/analyst/adviser, holds no investment licenses and may not sell, offer to sell or offer to buy any security. Market updates, news alerts and corporate profiles are not a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is not to be interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. For full disclaimer please read http://tomorrowsbluechips.com/disclaimer/ This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually," or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. SOURCE: Seraphim Strategies || Bitcoin's 'war' could threaten its survival: Bitcoin, the digital currency technology with an ecosystem attracting hundreds of millions of dollars in investment, is struggling through an existential crisis. And what may to outsiders seem like petty squabbling about a single number actually has major financial implications and could even threaten the very survival of the cryptocurrency. The argument-which is pitting Chinese constituencies against largely Western developers, the business community against the often ideological early adopters, and programmer against programmer-centers on a simple number in the global bitcoin system. But if the various parties can't come to an agreement, the whole network could splinter, wrecking its major selling points of security and decentralization. "There is literally a war going on right now in the bitcoin world," Marco Streng, CEO of Genesis Mining, told CNBC last month. There are two major questions facing the technology: Who is bitcoin for? And who gets to decide? Most of the early adopters saw appeal in bitcoin as a decentralized digital currency(: BTC=)-(to over-simplify the promise) a sort of virtual gold that could not be touched by governments, banks or corporations. But in seeking to create the perfect system for such a currency, bitcoin's early creators also created a technology that has wide-ranging applications. That technology is called the "blockchain"(CNBC has gone in depth into how it works), and this is basically what it does: It can record any information in a secure way, and make that information both public and unchangeable-doing this without relying on any central authority. Banks, stock exchanges, payment companies and othershave already begun exploringhow this can be used in their own businesses. The issue at hand is about the structure of bitcoin's blockchain (which is composed of "blocks" of data with each block referring back to the preceding chunk of information-thereby creating a chain). The community is arguing about how big the maximum block size should be: The current max is one megabyte, which only allows for about seven transactions per second-far too few for most businesses currently investing in the technology. This speed is a "roadblock to bitcoin growth," Jeff Garzik, one of five bitcoin core developers who have taken over maintenance of the technology,wrote in a recent paper. (Visa, for comparison, says its network can handle more than 24,000 transactions per second.) Read MoreWhy is it called the 'blockchain?' "Any responsible business projecting capacity usage into the future sees the system reaching an absolute maximum capacity, with this speed limit in place," he wrote. "Increasing or removing this limit will encourage businesses to view bitcoin as scalable and capable of supporting millions of new users." The block size limit may also negatively impact bitcoin's original currency use-case: As the number of transaction requests exceed the limit, the user experience degrades: The pools of "miners" who help inscribe data onto the global network will begin charging ever-higher fees for processing, eliminating some of the appeal over other payment methods. But there are reasons for limiting the size of a block. For one, it provides security for the system by constraining available space, and therefore making it costly to maliciously flood the network with spam. Miners are generally against increasing the size too much: They would have to do more work on each block, but they'd still reap the same benefit per block (while transaction fees remain negligibly low), said Pete Rizzo, the U.S. editor for cryptocurrency site CoinDesk. Also, some early adopters who plan to hold bitcoin for extended periods of time as an investment may prefer to keep the block size limit low-unbothered by transaction fees or business prospects, Garzik explained to CNBC. But even if more interests seem to point to increasing the block size, there's no agreement what size is ideal-balancing present-day security and future promise-or how a change should be made. Gavin Andresen, one of the most important developers of the technology,proposedincreasing the max size to 20 megabytes. (He did not respond to request for comment.) A powerful constituency of Chinese miners-who also object to increasing the size of the block, saying their nation's Internet connection to the rest of the world would not allow it-made a counter proposalsuggestingan eight-megabyte maximum. Andresen has since backed a version of this plan. Read MoreWhy financial firms are investigating bitcoin tech For his part, Garzik proposed a sliding cap with a change to the bitcoin code allowing for periodic block increases (or even decreases) based on global miners' votes. Different sources told CNBC that the most important parts of the community were variously leaning toward Garzik's proposal, an 8-megabyte increase, or just a small "can-kicking" measure to wait for technologies that might allow them to bypass the question. But as a totally decentralized system, bitcoin has no clear way to weigh these disparate opinions and interests-in other words, no way to make a definitive decision. Garzik called the block size debate the first major alteration to bitcoin policy since it began in January 2009. When other changes have been made, the core software has been changed, and the players on the network have quickly updated (anyone who doesn't follow the current protocol gets booted from the network until they comply). But with a contentious issue like this, the developers risk splitting the network into those who want to follow one set of rules, and those who want another. If someone were to push out a global update without ensuring near-total consensus, a split could occur. Read MoreBitcoin firm raises $116M, including Qualcomm investment "That would be the worst of all possible options," Garzik said. Bitcoin runs on a blockchain that is more secure and decentralized than any of its competitors because of its large user base and its comparatively lengthy history. If those users were to splinter, then the entire enterprise could be compromised. So what's at stake? Hundreds of millions of dollars have been invested in bitcoin and blockchain-related companies, and the current value of all the bitcoin in existence is currentlyabout $4 billion. The risks of a network split are low but not negligible, experts told CNBC. "You're dealing with consensus among a community of people who aren't communicating very well-and haven't for some time," Rizzo said, explaining that making any change to the code risks breaking a technology that already works pretty well. "At what point does that risk become untenable? At this point it's still within the realm of 'danger Will Robinson'-level risk," he added. More From CNBC • Top News and Analysis • Latest News Video • Personal Finance || BTCS Doubles Capacity at Its North Carolina Facility: ARLINGTON, VA--(Marketwired - Jul 30, 2015) -BTCS Inc.(OTCQB:BTCS) ("BTCS" or the "Company"), a blockchain technology focused company which secures the blockchain through its transaction verification services business, doubled its operating capacity at its North Carolina facility from 1.5 megawatts ("mw") to 3 mw. "Using only 0.65mw of our capacity, and approximately 891 Th/s, we were able to earn 552 Bitcoins in the second quarter," stated Charles Allen, Chief Executive Officer of BTCS. "By increasing our operating capacity to 3mw, we've set the stage for significant growth in the quarters ahead, which we believe we can leverage even further through our pending merger with Spondoolies-Tech. The addition of Spondoolies' third-generation Application Specific Integrated Circuit ("ASIC") servers upon closing of the pending merger is expected to provide a 3x-5x efficiency improvement to our operations. We believe this should translate to a significant boost in our hashing power." BTCS estimates that it currently costs the Company approximately $100-$120 to earn each Bitcoin. Assuming the implementation of third-generation ASIC servers from Spondoolies at the Company's facility in North Carolina, the increased capacity of 3mw is expected to power a hash rate of between 13,000 and 29,000 Th/s. Allen continued, "Our refined focus on securing the blockchain minimizes risk and positions us to capitalize on the massive market potential of the blockchain across all industries. We believe we selected an ideal timing for market entry that allowed us to pass over the high-risk period of extreme volatility that knocked many smaller players out of the space. With this latest increase in capacity, we believe we are well positioned to become a dominant player for the long-term." About BTCS:The blockchain is a decentralized public ledger that has the ability to fundamentally impact, on a global basis, all industries that require trust and rely on or utilize record keeping. BTCS secures the blockchain through its rapidly growing transaction verification services business and plans to build a broader ecosystem to capitalize on opportunities in this fast growing industry. BTCS continues to evaluate and build additional blockchain technology consumer solutions. BTCS also actively partners and integrates with strategic digital currency and blockchain technology companies who provide products or services that are complementary to its business strategy. For more information visit:www.btcs.com Forward-Looking Statements:Certain statements in this press release, including those related to an anticipated merger, 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. || 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 officialsrequesteda 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 regulatorshave 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. 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. || How To Invest When El Niño Comes Around: This year, El Niño is forecast to upend weather patterns across the world and wreak havoc farmers, especially in regions where access to irrigation is limited. The weather phenomenon is expected to cut down on rainfall in Australian and Southern Asia and create unusually wet weather in parts of South America. The extreme weather conditions have pushed investors to take a closer look into agriculture investments as the difficult growing conditions could lead to price spikes. Wheat Prices of wheat have seen a bump over the past two weeks after worries that El Niño would dry out wheat-producing regions. In Australia, where 14 percent of the world's wheat exports are grown, dryer than expected weather is forecast to significantly cut down on crop yields. The Teucrium Wheat Fund (NYSE: WEAT ) has seen a 10.58 percent rise over the past month in the wake of the commodity's El Niño concerns. Coffee Many investors are turning to coffee to give their portfolio a jolt, especially since both Vietnam and Indonesia are experiencing unusually dry weather. Both nations produce Robusta coffee, which is used in instant coffee and is very sensitive to reduced rainfall. For that reason, ETFs like iPath Bloomberg Coffee Subindex Total Return SM Index ETN (NYSE: JO ) have become popular plays for El Niño investors. Outside Agriculture While agriculture is the most obvious place El Niño will have an impact, other areas of the market could also feel the pressure of unseasonable weather. When El Niño hits, demand for commodities like crude oil and coal typically increases as thermo and hydroelectric power are more difficult to generate. The metals can also be impacted; in Chile wetter than normal weather could cut down on copper mining. See more from Benzinga Fast Food Gets Even Faster In Asia In Oregon, The Holiday Weekend Was Red, White, Blue And Green Bitcoin Glitch Costs Miners Thousands © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Caribbean's Next Top Model Returns to the Catwalk With Flow TV Partnership: BRIDGETOWN, BARBADOS--(Marketwired - Jul 16, 2015) - It was a night of exciting news as C&W unveiled its new consumer brand in Barbados and Wendy Fitzwilliam, Miss Universe 1998, announced a mutually beneficial partnership with the 'new' Flow to air the second season of the reality show 'Caribbean's Next Top Model.' "We're absolutely excited to be working with Flow to bring Caribbean's Next Top Model back for a second season. We are resolute in our desire to showcase brand Caribbean and this partnership makes it possible to build on our first season and bring the show back to our fans in a much more interactive way," said Wendy Fitzwilliam at the launch. The regionally based reality show is tied to the successful original production -- America's Next Top Model -- owned by CBS International and created by former top model and television producer Tyra Banks and follows the stories of young women seeking to launch a career in the competitive world of modelling. Fitzwilliam stated, "We know that there are many young women in the Caribbean who have big dreams of success in fashion. The fashion and beauty industries have been impacted by the talent of women with Caribbean roots for quite some time, from history makers such as Grace Jones and Naomi Campbell to relative newcomers such as Barbadian model Lene Hall, the face of Prescriptives by Esteé Lauder and Puerto Rican supermodel Joan Smalls. CNTM," she says "provides an additional opportunity for more Caribbean women to be represented within the international fashion industry. The success of this show will impact more than individuals and models it will also highlight the Caribbean fashion and beauty industries, content development in the Caribbean and more." John Reid, President of the C&W Consumer Group noted that the partnership was a perfect fit for Flow, now positioned as a Caribbean brand "driven by all that is positive in the Caribbean, the people, the passion, the drive to succeed, innovation and positive vibes." He noted that Flow will also use its quad play technology to ensure that viewers have access across multiple channels so that they can access the programme when they want and how they want. "Flow customers," he explained, "will be able to access Caribbean Next Top Model before other viewers on Flow TV, via the Flow on Demand platform at their convenience. They can even access information about the programme on their smart phones and other mobile devices." Story continues Caribbean's Next Top Model is produced by Wendy Fitzwilliam and her sister Dionyse Fitzwilliam, who is the show's Executive Producer. Casting calls for the second season are currently being held in Barbados, Cayman Islands, Jamaica and Trinidad and Tobago. The casting calls are also being facilitated online to make it more accessible for potential participants throughout the region. The first show will be aired in October. 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)] buysellbitco.in #bitcoin price in INR, Buy : 17871.00 INR Sell : 17323.00 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 $1,646.54 #bitcoin #btc || Current price: 227.09$ $BTCUSD $btc #bitcoin 2015-08-27 13:00:01 EDT || $274.58 #bitstamp; $270.00 #btce; Instantly buy GH/s with BTC: http://bit.ly/LN53k1  #bitcoin #btc || BTC-E LAST 241.00€ AVERAGE 243.19€ at 20:17 UTC #Bitcoin #BTCEUR || In the last 10 mins, there were arb opps spanning 21 exchange pair(s), yielding profits ranging between $0.00 and $966.54 #bitcoin #btc || buysellbitco.in #bitcoin price in INR, Buy : 16654.00 INR Sell : 16106.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || It would be auspicious to buy at https://Bittylicious.com/refer/2465  £182.00 per BTC. (BPI +7.04%) #buy #bitcoin #banktrans || Current price: 186.38£ $BTCGBP $btc #bitcoin 2015-07-15 04:00:03 BST || Two Hour Lull Update: Current Winkdex Bitcoin price: $286.00 #bitcoin
Trend: up || Prices: 230.06, 228.12, 229.28, 227.18, 230.30, 235.02, 239.84, 239.85, 243.61, 238.17
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 2017-11-10] BTC Price: 6618.14, BTC RSI: 54.41 Gold Price: 1272.40, Gold RSI: 45.84 Oil Price: 56.74, Oil RSI: 71.17 [Random Sample of News (last 60 days)] AbbVie Inc (ABBV) Earnings: 12 Things to Know: AbbVie Inc(NYSE:ABBV) has released its earnings report for the third quarter of 2017. Source: Shutterstock Here are a few things to know about AbbVie Inc’s recent earnings report. • The company reported earnings per share of $1.41 on revenue of $7.00 billion. • Earnings per share and revenue from the same time last year were $1.21 and $6.43 billion. • Wall Street was looking for ABBV to report earnings per share of $1.38 on revenue of $7.00 billion for the quarter. • Operating income for the quarter was $2.71 billion, which is up from the $2.36 billion reported in the third quarter of 2016. • Net income was $1.63 billion compared to net income of $1.60 billion in the same period of the year prior. • AbbVie Inc updated its 2017 guidance to include earnings per share ranging from$5.53 to $5.55. • Wall Street is expecting ABBV to report earnings per share of $5.53 for the year. • The biopharmaceutical research company also says that it is expecting earnings per share for 2018 to come in between $6.37 and $6.57. • Analysts are looking for the company to report earnings per share of $6.56 in 2018. • The company also notes that its Board of Directors have approved increasing its quarterly cash dividend to 71 cents per share from 64 cents per share. • The increase to the quarterly cash dividend for holders of ABBV stock will start with the dividend payable on Feb. 15, 2018. • Investors of ABBV must be on record as of Jan. 12, 2018 to receive the quarterly cash dividend. • 7 Spinoff Stocks That Could Be Better Than Their Parents ABBV stock was up 3% as of noon Friday and is up 48% year-to-date. InvestorPlace - Stock Market News, Stock Advice & Trading Tips • 10 Small-Cap Stocks to Buy for Big-Time Growth Potential • 7 Investments Every Retirement Investor Should Own • 5 Bitcoin Stocks to Buy for Low-Risk Cryptocurrency Profits As of this writing, William White did not hold a position in any of the aforementioned securities. The postAbbVie Inc (ABBV) Earnings: 12 Things to Knowappeared first onInvestorPlace. || Cryptos - Bitcoin Prices Jump Back Above $4K in Impressive Turnaround: Bitcoin soars back above the $4,000-level Investing.com - Bitcoin, the world's biggest digital currency by market cap, surged back above the $4,000-level on Monday in an impressive bounce back from last week's heavy losses. Bitcoin was last up about $400, or around 11%, at $4,068.60 by 9:45AM ET (1345GMT). The digital currency lost more than $1,000 in value last week and dropped below $3,000 per coin for the first time in over a month, with the sell-off driven in large part by fears of China cracking down on the market as well as a warning from JPMorgan (NYSE:JPM) CEO Jamie Dimon that bitcoin was a "fraud". Despite the recent fall, the digital currency is still enjoying a remarkable year, with prices up almost 350% since the start of the year, beating just about every other asset class. Ethereum, Bitcoin's closest rival in terms of market cap, gained 15.6%, or $40.10, to $297.25. Other prominent cryptocurrencies such as Litecoin, Ripple and Bitcoin Cash also traded higher. The total value of all publicly traded cryptocurrencies was approximately $139 billion. Related Articles Cryptos - Bitcoin Prices Jump Back Above $4K in Impressive Turnaround Gundlach on Bitcoin: 'I'm going to let this mania go on without me' Chinese bitcoin conference flees to Hong Kong || Jamie Dimon Thinks Bitcoin Is a ‘Fraud,’ But It Can Still Hit $100K: A “fraud” it may be, but Bitcoin could reach $100,000 before it collapses says CEO Jamie Dimon. Appearing at a CNBC/Institutional Investor Delivering Alpha conference in New York Tuesday, the executive reiterated his dark view on cryptocurrencies in general, saying that “It’s not a real thing.” That came just moments after the CEO called Bitcoina “fraud” at aBarclaysevent earlier in the day. Dimon argued that governments will eventually crack down on digital currencies because cryptocurrency is suited for illicit use -- or transactions by those in sanctioned countries like North Korea. Bitcoin shed some 2% on the news, falling to about $4,100. “If you're in Venezuela or Ecuador, or North Korea, you're better off probably using Bitcoin than using their currency,” he said. “That can't possibly be true in the United States unless you're speculating, and that isn't a reason to say something has value.” Even if Dimon doesn’t see Bitcoin as a legitimate long-term play, the CEO acknowledges that it could one day reach a truly lofty valuation thanks to the euphoria surrounding it. “I'm not saying go short… Bitcoin can go $100,000 a bitcoin before it goes down, so this is not advice on what to do, ” the chief executive said Tuesday. “I refer to it like the tulip bulb crisis.” That comes as Bitcoin was reportedlybanned by the Chinese government on cryptocurrencyexchanges -- leading the digital coin down from its all-time high of about $5,000. While Dimon acknowledges that bitcoin could reach $100,000, he also compares to the so-called Tulip mania phase of the Dutch Golden Age, in which excitement over tulip bulbs help make some varieties worth as muchas a house in the 1630s. “Eventually, it will be the emperor without clothes,” he said Tuesday, a sign that his call on the cryptocurrency perhaps even reaching $100,000 wasn’t exactly solid prediction of Bitcoin’s trajectory, but rather a hyperbole pointing toward just how volatile and unpredictable the investment could be. Earlier that day,Dimon said that Bitcoincould perhaps reach “$20,000.” In perhaps a sign of just how excited investors have grown over bitcoin, three different investors at the conference Tuesday said that their relatives had begun investing in Bitcoin, or were at the very least highly interested in it. Dimon noted that his daughter had bought some, while Tiger Fund CEO Julian Robertson said his son who was “very into Bitcoin” tried to teach him about the topic to no avail. At the same time, Starwood Capital CEO Barry Sternlicht revealed that one of his relatives was also trying to start a bitcoin-related hedge fund. At any rate, Dimon’s assertion that Bitcoin could one day hit $100,000 will hardly please some advocates, who argue that the currency may eventually go mainstream. In the same conference, venture capitalist Chamath Palihapitiya of the Social Capital refuted Dimon’s call on Bitcoin. The investor, who said he has been “massively long” bitcoin since 2012-13, said that governments would not be able to eliminate since it is a decentralized system. Eliminating bitcoin would require that government convince each and every person using the cryptocurrency that it is in fact worthless. “The genie is out of the bottle,” Palihapitiya said. See original article on Fortune.com More from Fortune.com • Cryptocurrency Chaos as China Cracks Down on Initial Coin Offerings • Jamie Dimon Beats Up on Bitcoin, Says It's 'a Fraud' • This Place Lets You Pay Your Taxes In Bitcoin • Why Celebrities Like Mayweather Could Face Legal Trouble Over ICOs • Here's Why Bitcoin's Value Dropped Over the Weekend || Podcast Series with Wil Ralston of SinglePoint Talking about Acquisitions, Cannabis and Developments in Cryptocurrency: POINT ROBERTS, WA --(Marketwired - October 26, 2017) - Investorideas.com, a global news source covering leading sectors including cannabis and bitcoin, releases the second of a two-part podcast interview with Wil Ralston of SinglePoint, Inc . (OTC PINK: SING) . SinglePoint's Bitcoin exchange is nearly ready to launch according to company President Wil Ralston. "We're looking to finish up in the next week or two and hopefully have a nice beta system ready to launch," he said. Ralston talked about the progress of the exchange and said that the cart system being developed will work to allow dispensaries to have an accurate idea of their inventory at all times. Listen to the podcast here: http://www.investorideas.com/Audio/Podcasts/102517-WilRalston-Cryptocurrency.mp3 "So far we've finished the portal for the user sign-up, we've added a cart system for dispensaries to actually upload their product and inventory, place photos, descriptions, everything like that about their inventory," he said. "A nice feature of that is they're actually able to do some inventory tracking, so as customers purchase their products, it will actually automatically deduct from the inventory what they have there." Ralston talked about how the company's recent purchase of WeedCoin would affect payment in the cannabis sector. "Our goal there is to hopefully be able to implement that into this mobile payment application so that users and dispensaries can decide what form of this cryptocurrency they'd like to accept," he said. "It's simply another addition to a potential option for multiple currency acceptance through our Bitcoin exchange here." Though cannabis and cryptocurrencies are both increasingly controversial and exciting sectors, Ralston said that with more markets in the U.S. opening up, buzz will likely increase. "I think that it's got nowhere to go but up and the train has left the station on legalization," he said. "29 states and the District of Columbia are all legalized in some form and there's some major markets coming onboard, such as Texas which is going to be massive." "We just think and feel that being on the frontlines of this and developing technologies that help streamline business efficiency as well as streamline the consumer experience, then we're really going to have a great service that's a huge value add to the industry." Story continues Podcast Series Part 1: Wil Ralston of SinglePoint, Inc . (OTC PINK: SING) talks about recent news of the completion of its acquisition of Denver-based group, JAG. Hear the first podcast here: http://www.investorideas.com/Audio/Podcasts/101817-SING-WilRalston.mp3 About SinglePoint, Inc.: SinglePoint, Inc. (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 company SingleSeed the company is providing products and services to the cannabis industry. For more information, visit www.SinglePoint.com or www.SingleSeed.com About Investorideas.com - News that Inspires Big Ideas www.Investorideas.com is a meeting place for global investors, featuring news, stock directories, video, podcasts , company profiles, interviews and more in leading sectors. The Investorideas.com podcasts are also available on iTunes, Tunein, Stitcher. Spreaker.com, iHeart.com and Google Play Music . Visit the Podcast page at Investorideas.com: http://www.investorideas.com/Audio/ Subscribe to Investorideas.com Podcast RSS: http://www.investorideas.com/rss/feeds/Podcasts.xml Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. More disclaimer info: http://www.investorideas.com/About/Disclaimer.asp . Disclosure: Companies Featured on the 420 Cannabis Investor Ideas have paid a one-time fee of Up to $1000 to be featured on the directory and SING is also a paid monthly featured company for news and PR, social media . Additional info regarding BC Residents and global Investors: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894 . Global investors must adhere to regulations of each country. || Crypto Debit Cards are Taking Bitcoin Mainstream. How Entrepreneurs Can Benefit.: Bitcoin's got a spending problem, and entrepreneurs are reacting with crypto debit cards to solve it. Say you've got some crypto-currency -- maybe a Bitcoin or a little Ethereum -- and it just went up 10 percent, and you now want to splurge on a long-overdue vacation to Europe. Related: 11 Things You Need to Know About Bitcoin In the past, you had to go to an exchange, like Coinbase, and turn a set amount of your cryptocurrency into a set amount of national fiat currency ($U.S. ? U.K., etc.). After that, you moved your fiat currency into a bank account. And only then, finally, could you spend it. Enter crypto debit cards -- the old-meets-new innovation that's poised to light a fire under cryptocurrency adoption among regular consumers -- and is primed for entrepreneurial action. Crypto debit cards are like regular debit cards. They've got a Visa or MasterCard logo. They work everywhere. But, instead of pulling from your bank account, they pull from a cryptocurrency wallet. Confused? Here are the basics: What is cryptocurrency? Cryptocurrency is virtual money. It's created by algorithms and sustained by computer networks run by real people and serviced by profitable corporations. It's money that isn't subject to direct devaluation through political means, the way fiat currencies are. And it's very hard for governments to confiscate. Cryptocurrency can move across political borders without delay, taxation or notice -- much like email. It's also relatively new, less than a decade old, and it's just seen its first unicorn (Coinbase). That means it's primed for new waves of venture capital in the short term. One unit of the most popular cryptocurrency, Bitcoin, is currently worth three times the value of one ounce of gold, and it's considerably more portable. Related: Why Marketers Need to Pay Attention to Cryptocurrency -- Now Bitcoin has a hard limit of 21 million total units, which is expected to result in deflationary pressures once that limit is reached. Ethereum, second in popularity after Bitcoin, is not just a currency but also a smart contract platform. You can program smart contracts to help people exchange anything of value in a conflict-free way, without middle men -- sort of like a vending machine. Story continues Speaking of middle men, what about banks? Cryptocurrency has the potential power to eliminate them, along with their fees and limits. And its transactions are nearly anonymous and shockingly inexpensive. In short, cryptocurrency -- and I write this, having no direct financial stake in it -- is the future of money, and it's a field that has a lot of room for new startups. Spending is the challenge. With more than 900 cryptocurrencies out there, access to opportunities for earning, trading and investing them has not been a problem. The challenge now is how to spend them in the real world. So far, we've relied on a ragtag DIY network of ATMs and QR-code apps. The new thing, however, is that we can now use crypto debit cards -- a bridge between the crypto world and the bank-card point-of-sale world that everyone is familiar with. Crypto debit cards are frictionless for beginners and easily understandable. They're making crypto mainstream for regular consumers . Why crypto debit cards? Crypto debit cards offer a lot of benefits over both the old way of trading cryptocurrency for fiat at exchanges and the traditional spending of fiat currency via credit and debit cards. They include: Freedom. You can now spend dozens of cryptocurrencies and tokens at businesses worldwide without having to worry about exchanges or exchange rates. You can buy just about anything you want with bitcoin and other cryptocurrencies. This could be the tipping point for cryptocurrency. Usability. You can spend your crypto holdings now as easily as you use your Visa or MasterCard. Buy groceries, order pizza and pay the bills all without having to pre-convert your cryptocurrency at an exchange. Or withdraw cash at thousands of ATMs. Conversion is now painless and invisible. You can spend freely, and live purely on Bitcoin -- and no one will be the wiser. Universality. Visa and MasterCard are accepted almost everywhere. Never again will you need to ask if a vendor accepts Bitcoin . No more hunting for buyers on LocalBitcoins. Flexibility. Many crypto debit cards enable you to spend Bitcoin, Ethereum and other coins and tokens, so you've got lots of choices when it comes to how to hold your money and which of your crypto holdings you want to liquidate. A buffer against inflation. Crypto debit cards are a lifesaver in places where the local currency is volatile and/or inflationary. You can hold your money in crypto and spend only what you need; you'll also get the best exchange rates. Increase adoption. When more regular people can spend their crypto holdings -- and profit by doing so -- they'll have more reason to ask for payment in cryptocurrency as well, and less reason to hoard it. Also, now merchants can effectively accept Bitcoin -- and not even know it. They'll get paid in their preferred fiat currency. Rewards. Many crypto debit cards offer reward schemes that will give you an advantage over spending cash. You could actually profit from spending cryptocurrency via a crypto debit card compared to spending cash. Anonymity. Some crypto debit cards will enable you to remain anonymous if you're spending small amounts of money. All of this adds up to a powerful engine for mainstream adoption by regular folks. Crypto debit cards represent the merging of two worlds -- the innovation of cryptocurrency with the practicality of debit cards. How crypto debit cards work Crypto debit cards work just like any other debit card at the point of sale or ATM. Instead of drawing from a bank account, however, the card draws from a cryptocurrency wallet. When you make a purchase with a crypto debit card, only the amount of cryptocurrency you need is sold for fiat currency. That fiat currency is then sent to the merchant in a seamless process you aren't even aware of. The steps to set one up are simple: Order the card, activate it, load money by transferring some cryptocurrency to the card vendor's wallet service and then spend the money. Your crypto debit card options More than 30 crypto debit cards options are available from different providers with different fee structures, cryptocurrency and fiat support. Some of the most popular ones are TenX , Centra Card , BitPay , Xapo , CryptoPay , Coinbase/Shift and Monaco . How entrepreneurs can take advantage The market for crypto debit cards is just getting started. Entrepreneurs looking to take advantage of it need to keep this in mind: Avoid limits as much as possible. Cryptocurrency users hate limits. Think outside the traditional limits. We're building a new world here -- one in which entrepreneurs can: Reduce and simplify fees. Many options in the crypto debit card market right now are loaded with fees, from monthly fees to loading fees to withdrawal fees and more. Reach the unbanked. As many as 2.5 billion adults globally are not using banks. But they do have cellphones. These folks are a prime market for cryptocurrency services. Entrepreneurs can make it easy for them to access educational and other services using crypto debit cards. Two-and-a-half billion people is a huge market. Just the other day, I came across a thread of people in the developing world begging an online education provider to accept Bitcoin. That's just one opportunity. One. Related: 5 Essential Podcasts for Entrepreneurs Serious About Cryptocurrency In sum, crypto debit cards are turning national currencies into an app that fits in your wallet. The crypto debit card is the next-level innovation that's going to rocket cryptocurrencies into the mainstream for everyday consumers. Because, when you can spend these currencies with ease, there's a good reason believe that you'll be able to earn it as well, and that the crypto economy will only grow. || Driving for Uber can feel a lot like playing the slot machines: Uber is asking drivers to ante up for their future earnings. The company is offering some drivers in Houston, Texas, a chance to “Celebrate Halloween early” by buying a week of “accelerated earnings” for an upfront payment of $115. The promotion, spotted by Data & Society researcher Alex Rosenblat, promises drivers 33% more on every trip between Oct. 23 and Oct. 29. “As long as your weekly earnings exceed $349, you’ll come out ahead,” it states. Drivers selected for the promo have until this Saturday, Oct. 21, to opt in. Bitcoin’s latest record high makes Satoshi Nakamoto the 247th richest person in the world Uber’s promotion. Uber told Rosenblat (and later Quartz) that the promo is related to a study it’s conducting with two economists at MIT. A working paper on the study was first published in the National Bureau of Economic Research in September. It described a randomized experiment called the “earnings accelerator.” According to the paper, which was revised this month, the experiment targeted drivers in Boston in July 2016 who had averaged five to 25 hours of driving per week in the previous month. Roughly 45% of Boston Uber drivers were eligible and 1,600 were picked to participate. Here’s how the experiment worked. First, Uber offered all 1,600 drivers the option to drive “fee free” for a week, meaning Uber waived its normal commission on rides. 1 About 65%, or 1,031 drivers accepted the offer (the researchers believe the others simply may have missed it). Those drivers earned on average $100 more than the rest of the group during their “fee free” week and drove for an additional four hours. Fragments of Halley’s Comet will fly across the sky this weekend as shooting stars Next, some of the 1,031 drivers who opted into the first offer were given a new choice: pay a certain amount upfront in exchange for another week of “accelerated” Uber-ing. The upfront payments ranged from $15 to $165 and were presented three different ways. Some drivers were told again that they could buy a week of fee-free driving. Others were given the chance to buy reduced Uber fees. Still others were offered a week of increased earnings. This time, the drivers who opted into those arrangements worked and earned on average 30% more. Story continues The study is framed as a comparison between Uber and taxis. In a traditional taxi model, drivers keep 100% of their fares but pay a fee to work, typically in the form of a lease on a car or taxi medallion. Uber doesn’t charge most drivers anything to work (though some drivers do rent or lease their cars) but instead takes a cut of each trip. The experiment explores how much drivers need to earn to make a “lease” model worthwhile. Of course, there’s an important caveat to all of this: Uber is always in control. Drivers pick when they work, but it’s Uber’s app that assigns them trips. They might get a long trip or a short one, a cheap fare or a more lucrative one. They might be booked for a private ride or hailed for a shared UberPool. Uber drivers’ earnings depend on minutes and miles but also on unpredictable financial incentives, like “boost” (guaranteed hourly wages) and “quest” (bonuses paid for completing enough rides in a certain period of time). “Uber and its ride-hailing competitors routinely offer drivers temporary increases in pay known to drivers as promotions,” the NBER paper states. “Promotions are used to increase trip supply, equilibrating supply and demand without the need for surge pricing.” Driving for Uber can feel a lot like playing the slot machines. Uber’s real-time data is catnip to economists. The company has 600,000 drivers in the US and about 2 million globally. It does millions of trips per day with prices that vary continuously based on location, traffic, and demand, among other factors. Influential MIT economist Josh Angrist is one of the researchers behind the earnings accelerator. Uber has previously recruited econ superstar and former Obama administration adviser Alan Krueger as a collaborator. To the people who worked on it, the earnings accelerator is just another part of the ongoing experiment that is Uber, a chance to pull some levers and test an interesting economic hypothesis. To the part-time drivers who were randomly selected to participate, it’s their livelihood. Imagine if someone bought a week of accelerated earnings for $100 and then was in a car accident, or had to care for a sick child. They can’t get that down payment back. Previous research has found that “gig” economy platforms like Uber attract lower-income workers whose earnings are somewhat unstable . “Under a taxi-style lease contract if you get sick or if something unexpected happens, you may lose money. That’s part of what we’re exploring,” Sydnee Caldwell, the other MIT researcher working on the study, wrote Quartz in an email. “The vast majority of drivers who accepted lease contracts indeed benefited in the sense that they made more money by opting in than they would have if they had not accepted the offer.” Uber said its study was approved by MIT’s Institutional Review Board and that drivers selected to participate were sent an opt-in form with a disclaimer about academic research by either text, email, or a pop-up in the Uber app. The disclaimer shown to Boston drivers said the study could last through the end of 2016. “This academic study is part of broader efforts to better understand the extent to which drivers benefit from Uber’s flexible work model in quantitative terms,” an Uber spokesman said in an emailed statement. It’s hard not to feel like Uber’s definition of “flexible” increasingly means “able to be manipulated by short-term incentives.” That, after all, is what this study is really probing: what it takes to get drivers to rearrange their schedules and even wager present dollars on the possibility of future earnings. “People respond a lot to changes in their hourly earnings,” Caldwell told US News. And what of the current “accelerated earnings” promotion in Houston? Academic research aside, it’s also a convenient way for Uber to lock in a supply of drivers ahead of the busy Halloween weekend. Sign up for the Quartz Daily Brief , our free daily newsletter with the world’s most important and interesting news. More stories from Quartz: While Elon Musk is firing his US workers, he’s giving the Germans a huge pay rise David Fincher, the first filmmaker to defect to Netflix, perfectly sums up modern cinema || Catalonia Images Will Impact Investors, Euro Drops on Spanish Vote: The referendum in Catalonia, Spain will be a talking point among investors today. U.S Indexes remained bullish before going into the weekend and the U.S Dollar is strong. China is on holiday. Manufacturing PMI reports will be published widely today. Bulls Remain, Ready Buyers, U.S. Dollar Stays Strong in Forex Wall Street’s gains before going into the weekend may have bullish investors ready for additional buying this week. The slightly better growth numbers from the U.S late last week were encouraging. The U.S Dollar has remained strong. Today a Manufacturing Purchasing Managers Index outcome will be issued, and Dallas Federal Reserve President Robert Kaplan will be speaking later. Tankan Manufacturing Improvement, Yen Shows Signs of Weakness The Nikkei Index has continued to add value in early trading this morning. The Tankan Manufacturing Index produced a solid result of 22 compared to its estimate of 18. The Yen is trading under 113.00 against the U.S Dollar, but continues to show signs of weakness. China is on holiday this week. Euro Reacts to Chaos from Spain, German Manufacturing Data Today The referendum in Catalonia , Spain will not be well received by investors who will react nervously regarding the way the vote was handled by the government and the chaos it produced. The Euro has been under early pressure this morning. Germany and France will release manufacturing data today. And the U.K will release a Manufacturing PMI report also. Chinese Holiday Could Influence Gold, Pressure Remains on Gold Gold has remained under pressure this morning . The precious metal has lost value steadily the past week and is near 1270.00 U.S Dollars an ounce. The strong equity markets and the U.S Dollars re-emergence have factored into recent weakness. China’s holiday this week could be an influence too if trading volume decreases. Manufacturing PMI Data Coming, Dallas Fed President Speaking The Manufacturing Purchasing Managers Index from the U.K will be watched by traders at 8:30 GMT. Story continues 8:30 AM GMT U.K., Manufacturing PMI 14:00 PM GMT U.S., ISM Manufacturing PMI 18:00 PM GMT U.S., Federal Reserve Member Kaplan Speaking Yaron Mazor is a senior analyst at SuperTraderTV. SuperTraderTV Academy is a leader in investing and stock trading education. Sign up for a class today to learn proven strategies on how to trade smarter. This article was originally posted on FX Empire More From FXEMPIRE: For Euro Traders, October is Going to be a Crazy Ride US Futures Point to a Higher Open, Manufacturing Data Coming from States Soon Solid Gains in Asia Buoy European Markets Bitcoin Ignores All Problems, Trades near $4500 Catalonia Images Will Impact Investors, Euro Drops on Spanish Vote UK Output Data Falls but Expectations Rise, Pound Drops against the Dollar || Wall Street climbs back to record highs: We’ve got more record highs for Wall Street as earnings roll in and economic data keeps improving. Plus, Bitcoin jumps again as Jamie Dimon has more bad things to say. Is this your sign to buy or take profits? And, Trump says the national debt is getting a boost from stocks at all-time highs. Does he have a point? Catch The Final Round at 3:55 p.m. with Jen Rogers, Yahoo Finance markets correspondent Myles Udland, and reporters Justine Underhill and Jared Blikre. Winners and losers Stocks ending the week on a down note include Hostess as the Twinkie-maker announced its CEO would be leaving the company next March; PG&E on concerns downed power lines created the massive fires in Northern California; and Tenet Healthcare, with shares slumping as the Trump administration announced the immediate cut off of subsidies to insurers that are required by law. Shares getting a lift include Alliance Data Systems as the CRM company’s net charge-offs dipped from a month ago; Nvidia as Needham raised its price target to $250, citing earnings potential from Nvidia’s data center products; and HP Inc., with shares jumping as its full-year profit forecast topped estimates and will pass on 50 to 70% of its free cash flow to shareholders. || Don’t Chase the Headline, But Go Long Kroger Co (KR) Stock: This week Kroger Co (NYSE: KR ) spiked 5% on a headline that it was selling assets. The assumption is that it would use the proceeds to lighten its debt load. This headline is not worth chasing higher, but I can still profit from it. KR Stock: Don't Chase the Headline, But Go Long Kroger Co (KR) Stock Source: Nicholas Eckhart via Flickr (Modified) I don’t like to chase baseless rallies. The knee-jerk reaction on Wall Street mistakenly assumes that the asset sale will change the current operating parameters for the company. Kroger will still continue to have the same current operating disadvantages. In general, supermarket chain margins are getting thinner — not to mention the additional squeeze that the recent entrant known as Amazon.com, Inc (NASDAQ: AMZN ) will have on the sector. Traders who were worried about KR profitability before the headline should still be worried thereafter. InvestorPlace - Stock Market News, Stock Advice & Trading Tips AMZN, with the Whole Foods Market footprint, brings the fight to the local level. Although I don’t like the huge spontaneous upside reaction in Kroger stock, I am not shorting it today. I do see tangible value in the stock and I can monetize it. It sells at 12 price-to-earnings ratio which is low in absolute and relative sector terms. It also pays a dividend. 10 Best Stocks to Buy and Hold for the Next Decade Technically, Kroger stock is at a level of contention which has been in place since October 2013. While I don’t know its outcome this time, I do know that I am willing to place risk on a bullish trade. No, I will not buy the stock outright and expect a rally like most chasers. Instead I will use options where I know I can create a sizable buffer zone. If KR management is successful at shoring up their balance sheet, it would make the value argument even stronger. So I don’t mind owning shares at a discount from current price should my thesis be broken. Official expectations are muted on Wall Street for KR stock. Most analysts have a hold rating on it. They are not yet willing to stick their necks out. Luckily I don’t listen to them as they tend to be late to the party. This leaves room for upside surprises, especially if this rally continues for a few more days. Story continues Click to Enlarge Furthermore, KR stock is now trading just below the average price target. But there is much more room above than below inside the Wall Street range. This week’s rumor is good news for the stock but not every bullish trade will profit. Mine will regardless! KR Stock Trade Idea The Trade: Sell the KR Apr 2018 $16 put and collect 50 cents. This is a bullish trade where I have an 85% theoretical chance that the price will stay above my strike. Otherwise, I own the shares at $16 and would suffer losses below $15.50 per share. Selling naked puts carries big risk. For those who want to mitigate it, they can sell a spread instead. Go Long AT&T Inc. (T) Stock While Wall Street Still Fears It The Alternate Trade: Sell the KR Apr 2018 $16/$14 credit put spread where I have about the same odds of winning. If so, the spread will yield 12% on risk. Ultimately, regardless of how careful I am, investing in stocks is fraught with danger, so I never risk more than I am willing to lose Learn how to generate income from options here . Nicolas Chahine is the managing director of SellSpreads.com . As of this writing, he did not hold a position in any of the aforementioned securities. You can follow him as @racernic on twitter and stocktwits . More From InvestorPlace 5 Bitcoin Stocks to Buy for Low-Risk Cryptocurrency Profits 7 Stocks to Buy Before the Holidays Safely Trade Bank of America Corp (BAC) Stock in This Schizophrenic Market The post Don’t Chase the Headline, But Go Long Kroger Co (KR) Stock appeared first on InvestorPlace . || Goldman Sachs is reportedly exploring options for its stake in The Weinstein Company: Harvey Weinstein (Harvey Weinstein.Getty/Ian Gavan) Goldman Sachs is "exploring options" for its small stake in The Weinstein Company after more than two-dozen women came forward with accusations of sexual harassment against Hollywood mogul Harvey Weinstein, according to Shannon Bond at The Financial Times . Andrew Williams, a spokesman for the bank, told the FT the firm was exploring options for its stake, which is valued at less than $1 million. Goldman Sachs helped finance the creation of The Weinstein Company in 2005. Even before reports about Weinstein's alleged misconduct came to light, The Los Angeles Times said the company was "already facing financial strains because of a lack of commercial hits and increasing competition in the indie cinema space." Last week, a bombshell New York Times report exposed decades of sexual-harassment and abuse allegations against Weinstein, including from actress Ashley Judd. The Times reported that Weinstein has made legal settlements with at least eight women. Since then, over two-dozen women have come forward , including stars Gwyneth Paltrow, Angelina Jolie, and Cara Delevingne. Most of the alleged encounters followed a similar pattern of "business meetings" turning into a proposed massage and hotel room sexual harassment or assault, the Times report said. The accusations begin as early as the 1980s and include actresses, assistants, and other employees of Weinstein's companies. The Huffing Post reported on Friday that Lauren Sivan, who was previously a news anchor on local cable channel Long Island 12, alleges that a decade ago Weinstein trapped her in the hallway of a restaurant that was closed to the public and masturbated in front of her until he ejaculated. Weinstein was fired from The Weinstein Company by its board last the week. The statement announcing the firing said the decision was made "in light of new information about misconduct by Harvey Weinstein that has emerged in the past few days." Weinstein and his brother, Bob, who is now the head of the company, together own 42% of the company. Story continues Check out the full report from The Financial Times here . NOW WATCH: The secret to Steve Jobs' and Elon Musk's success, according to a former Apple and Tesla executive More From Business Insider Bitcoin just hit an all-time high — here's how you buy and sell it This map shows the devastating impact of fires ravaging parts of California's wine country GOLDMAN SACHS: Here's how to make a killing this earnings season [Random Sample of Social Media Buzz (last 60 days)] #Putin Tells Central Bank Not to Create Barriers to #Cryptocurrencies || One Bitcoin now worth $5412.42@bitstamp. High $5696.00. Low $5364.10. Market Cap $90.007 Billion #bitcoin || Bitcoin is the internet's first authentic approach to electronic cash, that allows peer-to-peer value exchange online. || Buy! (7:19:57 pm PDT) Price: 3935.00 (+/- 0.5) Close: 3939.54 (+/- 0.5) Stop: 3932.00 (+/- 0.5) #gdax #coinbase #btc #trading #signals || #Putin Tells Central Bank Not to Create Barriers to #Cryptocurrencies || #Putin Tells Central Bank Not to Create Barriers to #Cryptocurrencies || #Putin Tells Central Bank Not to Create Barriers to #Cryptocurrencies || #Bitcoin -1.13% Ultima: R$ 16910.00 Alta: R$ 17997.99 Baixa: R$ 16300.00 Fonte: Foxbit || #bitcoin non si ferma più? Analisi tecnica || #bitcoin non si ferma più? Analisi tecnica
Trend: up || Prices: 6357.60, 5950.07, 6559.49, 6635.75, 7315.54, 7871.69, 7708.99, 7790.15, 8036.49, 8200.64
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 Has Got Society to Think About the Nature of Money: This post is part of CoinDesk’s 2019 Year in Review, a collection of 100 op-eds, interviews and takes on the state of blockchain and the world. Daniel Gorfine is the founder of fintech advisory firm Gattaca Horizons LLC. He currently serves as an adjunct professor at the Georgetown University Law Center, and is former chief innovation officer of the U.S. Commodity Futures Trading Commission. Sometimes I imagine the advent of bitcoin as akin to the sudden appearance of the monolith in Stanley Kubrick’s 2001: A Space Odyssey that triggers curiosity, suspicion, euphoria and then ultimately evolution across a band of interested primates. Satoshi Nakamoto’s now more than 10-year-old white paper has elicited a broad range of human emotions, reactions, and responses ranging from those who believe this is all nothing more than digital smoke and mirrors, to those who argue blockchain is the biggest innovation since the development of the internet. Regardless of your view, it is clear that bitcoin has driven society to think more broadly about the nature of money, the way we engage in economic activity, and the role of financial intermediaries and technology infrastructure in our markets. As we head into the year 2020, and wrap-up over a decade of experience with cryptocurrency, it is worth taking stock of five key market and regulatory topics that are likely to drive the crypto agenda heading into the new year. Related: Dissidents and Activists Have a Lot to Gain From Bitcoin, if Only They Knew It The first topic is a remnant of the global ICO mania of 2018, which catalyzed fierce debate on the definition of a security in the crypto-context. Some within the crypto community have argued that tokens will serve a utility or consumption function in powering new decentralized economic models, and therefore should not be viewed through the lens of a securities offering. Global regulators have looked through the promise to argue that in reality many pre-sales of tokens bear the hallmarks of a traditional capital raise, and, therefore, are the proper focus of securities laws. Story continues Much of the mania over ICOs dissipated in 2019, but it remains the case that there is still existing ambiguity at the margins of when a token may be a security as compared to – or “morph” into – a decentralized utility or consumption coin. Absent (unlikely) legislation to clarify this perimeter, 2020 may be the year that the judiciary more fully applies doctrines such as the “ Howey Test” in the crypto context, including in cases like U.S. Securities and Exchange Commission v. Kik Interactive Inc . To the extent that further clarity allows certain token projects to move forward outside of the securities law context, 2020 may also be the year that we begin to learn more about the viability, value, and economics of such projects (an area where I have previously expressed skepticism that we will see thousands or even hundreds of successful standalone tokens). A second topic, derivative of the first, is looking at how regulation will evolve in the U.S. to the extent that a token falls outside of the securities laws. Platforms that facilitate the trade of digital commodities are currently subject to a patchwork of state regulation that largely treats the exchange of virtual currencies as money transmission (although some states, such as New York, have tailored specific crypto-regimes). With the exception of FinCEN registration, there is no coherent federal framework that provides oversight of a digital commodity exchange (also known as the cash, spot, or underlying market). While the CFTC may have backward-looking fraud and manipulation enforcement jurisdiction, this is not a federal framework to oversee spot digital commodity trading as with securities, or futures and derivatives markets. Related: How DeFi Goes Mainstream in 2020: Focus on Usability The above-regulatory landscape seems to poorly serve both innovators and regulators. Digital asset market participants and innovators would benefit from a more efficient, rationalized, and mature regulatory framework that recognizes crypto-trading from a markets perspective instead of simply as money transmission. And regulators would better be able to satisfy regulatory interests – including investor protection and policing for trading manipulation – if the regulatory framework provided for direct market oversight. 2020 may be the year that policymakers at the state and federal level begin more robust consideration of a rationalized digital commodity regulatory framework. For the above reasons, 2020 may be the year that policymakers at the state and federal level begin more robust consideration of a rationalized digital commodity regulatory framework. At the federal level, an opt-in federal licensing option for cash-market digital commodity platforms could hold promise. At the state level, I would expect leaders to emerge in creating more streamlined, coordinated, and market-oriented licensing frameworks. These regimes would need to create properly tailored platform requirements, while leveraging appropriate market and trading oversight capabilities. The private sector, for its part, should continue to develop and deploy crypto-market surveillance and compliance tools, including through potential industry or self-regulatory bodies. All of these developments could help to enhance the integrity of underlying crypto markets. A third topic will be further exploration (and ideally clarity) around the application of the securities laws to digital assets that are deemed to be securities or that are involved in a registered offering. In other words – whether the token represents a registered or legal form of an ICO, the mere tokenization of a traditional securities offering, or the underlying basket of assets in an investment fund – how can blockchain technology or blockchain-based assets satisfy regulatory expectations and requirements? Let’s drill down on a few examples to highlight what I mean. If we assume an asset is in fact a security, the way the security is marketed, transferred, cleared, and custodied must all satisfy securities laws. These laws, for example, impose requirements on SEC registrants to ensure that customer assets are not lost , misused, or misappropriated. While this may sound straightforward, satisfying such standards poses unique challenges when the involved asset is secured with cryptographic keys, which can be lost or potentially shared with third parties. A second related example of unique securities law considerations in the crypto context arises with respect to applications for a crypto-based ETF. The SEC has made clear successful applications will ultimately have to demonstrate how the fund can “prevent fraudulent and manipulative acts and practices.” A core challenge here derives from the regulatory framework outlined above – one which does not systemically surveil the underlying crypto-market for potential fraud and abusive trading practices. My view is that efforts to further ensure the integrity of the underlying market – whether through application of more coherent regulatory frameworks or industry self-regulation – will be critical in enhancing requisite market integrity from a securities law perspective. CFTC oversight of evolving crypto futures markets may also advance these efforts. A fourth topic for 2020 will be ongoing developments around stable coins and digital fiat currency, including the Libra initiative , global CBDC efforts (including in China), or a U.S. hybrid model I have advocated for that recognizes a role for the government , but in partnership with private sector dynamism and ingenuity. The truth is that, despite bitcoin’s longevity, we have not yet seen the mainstream adoption and success at scale of a tokenized medium of exchange powered by decentralized blockchain rails. We know the potential benefits – including efficiency, speed, transparency, and inclusion – but we need to test the merits as compared to traditional payment rails. This testing and evolution will inevitably happen, and 2020 may prove to be a catalyzing year. A final topic moves beyond crypto as an asset and instead focuses on the many ancillary benefits that may arise from renewed focus on the technology infrastructure that underpins our broader markets and provision of financial services. I have frequently suggested that one of the positive outgrowths of the launch of bitcoin is that it has made the topic of interoperable databases and smart-contract-based automation a ‘hot’ area in the context of middle and back-office systems. Although existing infrastructure may be Scotch-taped and bubble-gummed together to serve its purpose, there is little question that new systems, which promote interoperability, data standardization, open architecture, and ready application of machine learning tools are the next generation of enterprise-level fintech. 2020 may be the year that we begin to see the value proposition of such infrastructure justify the up-front investment cost. It’s hard to believe it has been more than a decade since Satoshi Nakamoto released the bitcoin white paper. We still do not know who Satoshi Nakamoto is and how cryptocurrency-based innovation will evolve. But, as one of the earliest popular articles I could find on bitcoin noted back in 2010 (when one bitcoin traded for 20¢): “purely as an intriguing idea that might indicate a possible future . . . Bitcoins are worth taking a look at.” Indeed, this intriguing idea promises to continue to drive our march into a 2020 cyberspace odyssey. Happy New Year! Related Stories In 2019, Students Demanded Blockchain Education. In 2020, It’s Coming Even if a Thousand Projects Don’t Make It, Blockchain Is Still a Change Catalyst || A Decade of Quantitative Easing Has Paved the Way for the Age of Digital Currency: This post is part of CoinDesk’s 2019 Year in Review , a collection of 100 op-eds, interviews and takes on the state of blockchain and the world. Michael J. Casey is CoinDesk’s chief content officer. The views expressed here are his own. Our social media-constrained attention spans make it hard to focus on anything lasting longer than 24 hours, let alone a decade. So, we risk missing the big, secular trends that lead to the kinds of paradigm shifts Bridgewater Associates founder and co-chairman Ray Dalio speaks of . Once they’ve occurred, and the world you were used to suddenly disappears, it’s too late. Related: Crypto Must Embrace the Fringe to Win Over the Mainstream Thankfully, the Roman calendar periodically offers an excuse to sit back and reflect on longer time frames. We have one of those moments right now: the end of the 2010s. For most capital market investors, the past 10 years are perhaps best described as the “decade of QE.” And they don’t mean a British monarch or an ocean liner. Through a radical policy of “quantitative easing” introduced to counter the “zero lower bound” problem in interest rates, the central banks of the U.S. , the euro zone , and Japan have added almost $10 trillion in assets to their balance sheets since the end of 2009. Given that massive surfeit, nothing else mattered much to financial markets. Stocks, bonds and commodities moved in ever closer correlation to one another. Mostly they rose, though sometimes they fell, all in lock-step dependence on monetary policymakers administering the drug of QE. Related: With So Much Debt Around, Investors Need Bitcoin as a Reflation Hedge There are many reasons to believe that this massive intervention has created a giant distortion. One that gets attention is the fact that, at one point, $17 trillion of dollars in bonds traded at negative yields this year, meaning that investors had too much cash and were willing to pay “safe” creditors for the privilege of taking their money. Story continues But there are other warning signs that the QE-fueled market runup is starkly out of line with the realities of the world. As Bank of America chief strategist Michael Harnett put it in a recent research report , “We enter the next decade with interest rates at 5,000-year lows, the largest asset bubble in history, a planet that is heating up, and a deflationary profile of debt, disruption, and demographics.” So, while the decade of QE might seem like the ultimate expression of central bank power and influence, the next decade may produce the opposite: a reversal that reveals central bankers’ impotence. The fear is that monetary authorities have spent all their ammunition, leaving nothing for the next crisis. That would mean a paradigm shift is coming. What would it look like? Also, the cryptocurrency decade A new class of investor that emerged this past decade believes it knows the answer. They’d call the past ten years the “decade of cryptocurrency,” and they’d have a strong case. In the future, when we look back on the emergence of bitcoin, we may well conclude it was the most important financial development of our time. Like nothing else, it changed the way we think about money. That said, I’m not convinced the post-QE era will be the bitcoin era. Bitcoin’s daily transaction flow, usually in the low billions of dollars , pales in comparison to the trillions in fiat currencies traded each day in foreign exchange markets. More likely than bitcoin becoming the new global monetary standard, I’d say, is that it becomes digital gold. In other words, that bitcoin will be to the digital era what gold was to the analog era: a safe-haven store of value that’s free from government interference. Even so, to believe bitcoin is having no impact on the broader world of money is naïve. The biggest, most important developments in finance right now – namely, the digital currency aspirations of central banks such as the People’s Bank of China and the European Central Bank , as well as the Libra project launched by Facebook – trace a direct line to bitcoin and its crypto imitators. Those fiat-backed prototypes are fundamentally different from decentralized cryptocurrencies in that their record-keeping and monetary policy features are centrally managed. Yet they still borrow heavily from the core breakthroughs that bitcoin established. The protocols behind these new fiat-backed digital coins will, for example, create digital scarcity, meaning that, like cryptocurrencies, they can function as a de facto form of cash or bearer instrument. That’s quite different from the bank-issued IOUs of our current payments system. Also, they’ll essentially be programmable, which when combined with smart contracts and wallet-enabled internet-of-things (IoT) devices will transform the world’s commerce. But the biggest, most politically important disruption will be to the dollar- and banking-led world of finance. If digital fiat currencies become commonplace for payments, they’ll eventually remove banks for that core function of economic exchange, relegating them to longer-term lending functions. That will, in turn, mean that banks are no longer engaged by central banks as the core intermediaries for managing our monetary conditions. Also, if coin-to-coin atomic swaps and smart contract-based escrow solutions are used in cross-border transactions , the rise of digital fiat might quickly spell the end of the dollar’s dominance of global trade, with profound implications for the United States. The upshot of all this is that central banks will initially acquire even more direct control over monetary conditions. However, they will do so within a digitized environment in which no single currency enjoys global hegemonic dominance and in which users can more easily move in and out of state, private or decentralized currencies of their choosing. That increased currency competition should, in theory, impose a constraint on each sovereign’s capacity to debase their citizens’ money. We face a paradigm shift, in other words. When they come to write about this period, my guess is that historians will look upon the 2010s as the decade that set up that shift. Explaining it, they’ll point to two main developments: that QE exposed the limitations of the existing, bank-centric system and that cryptocurrencies emerged to posit an alternative model. Related Stories The Central Bank Business Model Is Under Attack Charlie Shrem: What I Still Love About Crypto || Bitcoin’s Bull Bias Intact Despite 6 Percent Price Pullback: View Bitcoin has pulled back from seven-week highs above $8,400, but the bullish breakout confirmed on Jan. 6 is still valid. The price drop was backed by low seller volumes and may be reversed. The bullish case would weaken if prices find acceptance under key support at $7,567. Bitcoin has pulled back from multi-week highs but is still hovering in bullish territory above key support near $7,600. The number one cryptocurrency is currently trading at $7,910 – down 6.5 percent from the seven-week high of $8,463, according to CoinDesk’s Bitcoin Price Index (BPI). Related: Bitcoin Price Will Be Golden in 2020 Thanks to Limited Supply, Increasing Use: Bloomberg Report Thepullback began during the U.S. trading hours on Wednesday with gold and other safehavens losing ground on easing of geopolitical tensions. “Bitcoin’s price dropped down to $8,100 (from $8,300-$8,400 range) right as President Trump announced at 11 a.m. ET that the U.S. will not escalate the conflict with Iran,” Hong Kim, co-founder and chief technology officer at Bitwise Asset Management tweeted Wednesday. Popular analyst Ran NeuNer also put out a tweet, drawing attention to the fact that both bitcoin and gold moved lower following President Trump’s speech. Bitcoin has moved in tandem with gold since Friday. The cryptocurrency turned higher from lows near $6,850 on Friday after the U.S. attacked Iran and clocked seven-week highs during the Asian trading hours on Wednesday. During the same time frame, the yellow metal rose from $1,530 to 6.5-year highs above $1,611. Related: Bitcoin May Follow Gold With Significant Price Breakout So, it appears as though markets are beginning to treat the cryptocurrency as a haven asset, as noted by NeuNer. That makes bitcoin vulnerable to a deeper pullback in gold, which is currently trading at $1,547 per Oz, representing a 4 percent drop from Wednesday’s high of $1,611. Theyellow metal could slip further, possibly dragging bitcoin lower, as theEuropean equities (risk assets) are flashing green and the futures on theS&P 500 are adding 0.33 percent. Story continues That said, bitcoin’s short-term bias will remain bullish as long as prices are holding above key support near $7,600. Daily chart Bitcoin is flashing red for the second day. However, the former resistance-turned-support of the inverse head-and-shoulders, currently at $7,567, is intact. So,the bullish breakout confirmed on Jan. 6 is still valid and the path of least resistanceremains to the higher side. Healthy pullback? Markets usually crowd out weak hands (traders with limited ‘HODLing’ power) by revisiting former hurdle-turned-support before building on a major breakout. Bitcoinjumped 5 percent on Tuesday, confirming an upside break of the six-month-longfalling channel. The channel breakout signaled a revival of the bull marketfrom lows near $4,100 seen in April 2019. Therefore, the 6 percent pullback could be the market’s attempt to shake out weak bulls. Also, trading volumes have dropped over the last 18 hours. Hourly chart The price decline is accompanied by a slide in volumes. The red bars, representing selling volumes, have been small compared to the green bars or buying volume witnessed earlier this week. A low-volume price drop is often short-lived. The probability of a slide to the crucial daily chart support of $7,567 would increase if prices find acceptance below the 100-hour average at $7,825 on the back of strong volumes. Disclosure: The author does not currently hold any digital assets. Related Stories Bitcoin Hits New 2020 High Above $8,400 After Iranian Missile Attack Bitcoin Probes Major Resistance After 15 Percent Price Rally || Bitcoin Charts First Weekly Golden Cross in 3.5 Years: • Bitcoin’s weekly chart is reporting a bullish golden cross of the 50- and 100-period moving averages. The widely followed, but lagging, indicator may fail to attract buyers as broader market conditions are currently bearish. • A UTC close above $7,870 is needed to confirm a short-term bullish reversal, according to the daily chart. • The cryptocurrency risks falling to key support at $7,087, having faced rejection at bearish weekly average resistance during the Asian trading hours. Bitcoin’s longer duration chart is flashing a specific bull market signal for the first time in over three years. On the weekly chart, the cryptocurrency’s 50-period moving average (MA) has crossed above the 100-period moving average, confirming what is popularly known as a “golden crossover.” The same cross was last observed in May 2016, according to Bitstamp data. A golden cross occurs when a short-term movingaverage breaks above a long-term moving average on a specific time frame(daily, weekly, monthly) and is considered an advanced warning of an impendingbull run. Related:Bakkt Goes Live With Options, Cash-Settled Futures Products MA crossovers are lagging indicators and merely confirm the prevailing trend, however. As such, they have limited predictive powers,as discussedlast week. That said, crossovers are widely followedindicators and attract a significant amount of buying if the broader marketconditions are supportive, as seen below. As can be seen (above left), bitcoin rallied more than 150 percent from $198 to $502 in the 11 weeks to Nov. 8, 2015, and then consolidated largely in the range of $360 to $470 before beginning the next leg higher with the confirmation of the crossover in May 2016. The cross likely attracted buyers, as the preceding structure was positive – higher low and consolidation. Related:The Safello Story: Smaller Crypto Exchanges Must Partner to Survive Further, the bull cross happened three months ahead of the reward halving (supply cut by miners), which took place in August 2016. By June 20, bitcoin had rallied by more than 120 percent to highs above $775. The latest bull cross (above right) comes five months ahead of the next reward halving, due in May 2020. However, many experts, includingJason A. Williams, co-founder and partner of Morgan Creek Digital, believe the halving has been discussed extensively throughout the year and has been priced in. Also, the preceding market structure is bearish: the cryptocurrency is trapped in a four-month falling channel and the bull cross is mainlythe resultof the sharp rally from $4,000 to $13,880 seen from April to June. All in all, adopting a strong bullish stance onthe back of the golden crossover could prove costly. The case for a stronger upside move would strengthen once prices find acceptance above $7,870 (Nov. 29 high). At press time, BTC is changing hands at $7,470 on Bitstamp. Bitcoin violated the falling trendline resistance on Dec. 4. So far, however, that has failed to invite buyers in numbers.A UTC close above the Nov. 29 high of $7,870 is needed to invalidate the lower-highs set up and confirm a bullish reversal. That will likely yield a quick move higher to $8,500–$8,672 (61.8 percent retracement of the drop from $10,350 to $6,511). On the downside, key support is located at $7,087. A violation there would validate the bearish inverted hammer created on Dec. 4 and would likely yield a drop to recent lows near $6,500. Having faced rejection at the descending (bearish) 5-week MA at $7,561 during the Asian trading hours today, the cryptocurrency risks falling to support at $7,087. The outlook as per the weekly chart would turn bullish if and when the four-month falling channel is breached to the higher side. That would imply a continuation of the rally from lows near $4,000 that started in early April. • Crypto Exchange OKEx Launching Options Trading Later This Month • DISCUSSION: How Can Public Blockchains Have Privacy? || Stats and Opinion Polls Put the EUR and the GBP in Focus: Earlier in the Day: It was a relatively busy day on the economic calendar through the Asian session this morning. The Aussie Dollar was in action again, with trade and retail sales figures released in the early part of the day. On the geopolitical front, the markets also responded to Trump’s comments that suggested a phase 1 trade agreement was in sight… For the Aussie Dollar Retail sales were flat in October, coming up short of a forecasted 0.3% rise. In September, retail sales had risen by 0.2%. According to the ABS , Clothing, footwear and personal accessory sales (-0.8%), department stores (-0.8%), and household goods (-0.2%) saw declines. Cafes, restaurants and takeaway food services (+0.4%) and food retailing (+0.1%) offset the declines. Australia’s trade surplus narrowed from A$7.18bn to A$4.502bn in October. Economists had forecast a surplus of A$6.10bn. According to the ABS , Goods and services credits fell by A$2,205m (5%) to A$40,750m. Non-rural goods exports fell by A$1,710m (6%), with non-monetary gold exports sliding by A$666m (25%). The exports of rural goods rose by A$114m (3%), while the net exports of goods under merchanting surged by A$14m (93%). Services credits rose by A$45m (1%). Goods and services debits rose by A$140m to A$36,248m in October. Consumption goods imports rose by A$334m (4%), with intermediate and other merchandise goods imports rising by A$256m (2%). The imports of non-monetary gold slid by A$258m (-35%), with the import of capital goods falling by A$152m (-2%). Service debits fell A$40m. The Aussie Dollar moved from $0.68519 to $0.68359 upon release of the figures. At the time of writing, the Aussie Dollar down by 0.10% to $0.6842. Elsewhere At the time of writing, the Japanese Yen was down by 0.02% to ¥108.88 against the U.S Dollar, while the Kiwi Dollar was up by 0.15% to $0.6539. The Day Ahead: For the EUR It’s a relatively busy day ahead on the economic calendar . Key stats include German factory orders figures for October ahead of the European open. Later in the morning, the Eurozone’s finalized 3 rd quarter GDP numbers and October retail sales figures will also be in focus. Story continues Barring deviation from 2 nd estimates, we would expect factory order and retail sales figures to have the greatest impact. The Eurozone economy continues to rely on consumer spending, making today’s figures all the more important. Outside of the stats, with a week to go before the UK General Election, influence on the EUR will likely continue to rise. The EUR should show little response to the polls, however, should the Tories continue to stay out ahead. Any chatter on trade would also need monitoring throughout the day. At the time of writing, the EUR was up by 0.04% to $1.1082. For the Pound It’s a quiet day on the data front. There are no material stats due out of the UK to provide the Pound with direction. The lack of stats will leave the Pound in the hands of the opinion polls and election predictions, as the 7-day countdown begins. At the time of writing, the Pound was up by 0.06% to $1.3112. Across the Pond It’s a relatively busy day on the economic calendar . October trade data and factory order figures are due out, along with the weekly jobless claims numbers. Barring any material jump in the initial jobless claims, we would expect the factory order numbers to have the greatest influence. On the trade front, any widening of the trade deficit could spur Trump into Twitter action later in the day. At the time of writing, the Dollar Spot Index was down 0.07% at 97.581. For the Loonie It’s a busy day on the economic calendar , with October trade data and November Ivey PMI due out of Canada later today. Expect the Loonie to react to any disappointing numbers that contradict the BoC’s outlook on the economy… The Loonie was up by 0.08% to C$1.3190, against the U.S Dollar, at the time of writing. This article was originally posted on FX Empire More From FXEMPIRE: AUD/USD Forex Technical Analysis – Trader Reaction to .6842 Will Determine Direction on Thursday Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 05/12/19 Ethereum and Stellar’s Lumen Daily Tech Analysis – 05/12/19 Natural Gas Price Prediction – Prices Form Inside Day ahead of Inventory Report USD/CAD – Canadian Dollar Gains Ground as BoC Cautiously Optimistic Gold Price Futures (GC) Technical Analysis – Key Support Area $1477.30 to $1472.90 || Dfinity launches an open-source platform aimed at the social networking giants: When Dfinityraised $102 million in funding in 2018 at a $2 billion valuationin 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 Dfinity’s 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. 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. "WhileDFINITYis 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 Dfinity’s 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 can’t 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 Dfinity’s 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,DFINITYhas 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. || Fidelity Investments' crypto arm makes first push into Europe: By Tom Wilson and Simon Jessop LONDON (Reuters) - The cryptocurrency arm of Fidelity Investments, one of the world's largest investment managers, has launched its first foray into Europe, opening a new front in efforts to drag digital money into mainstream investing. Fidelity Digital Assets will act as a custodian for bitcoin held by London-based cryptocurrency investment firm Nickel Digital Asset Management, the two companies said on Tuesday. The lack of back-office services like custody offered by major financial firms has been one reason that large investors across the world have held back from involvement in the highly volatile but potentially lucrative emerging asset. Yet it remains to be whether the provision of such services alone by firms like Boston-based Fidelity, which has $7.8 trillion under management, will pave the way for an influx of mainstream money into cryptocurrencies. Big pension funds and asset managers remain highly sceptical of digital currencies because of their patchy regulation and reputation for hacks, heists and other crime, despite the large potential gains on offer. Bitcoin <BTC=BTSP> almost doubled in value last year, buoyed by expectations of growing mainstream use. Yet bitcoin markets are dysfunctional and plagued by double-digit price swings, opaque price discovery and patchy liquidity. Facebook's <FB.O> high-profile attempt to draw cryptocurrencies into the mainstream with its Libra coin has met with regulatory scepticism globally, with France and Germany pledging to block the currency from operating in Europe. Fidelity Digital Assets' Europe head, Chris Tyrer, said the hurdles to participation in cryptocurrency markets by institutional investors - regulation, as well as the quality of service providers and high volatility - were gradually becoming lower. "We see those three factors slowly resolving themselves, and as a result we are seeing a pick up in institutional investor interest," he told Reuters. Harmonised regulation in the European Union would be useful for service providers, he added. Story continues Tyrer said his firm was attracting interest from family offices, wealth managers and some cryptocurrency companies. He declined to say how much money it manages or how many clients it had. Launched in 2018, Fidelity Digital Assets offers cryptocurrency trading and custody services for financial firms and corporations. In November it was given the nod by New York's financial watchdog to offer its services to companies in the state. (Reporting by Tom Wilson and Simon Jessop; Editing by Pravin Char) || SEC Reveals Telegram’s Communications With Investors, Seeks to Question Advisor: The U.S. Securities and Exchange Commission (SEC) wants Telegram’s former chief investment advisor to testify and hand over documents related to the company’s $1.7 billion 2018 token sale. The SEC has asked the High Court of England and Wales to obtain the testimony and documents from John Hyman, a former investment banker with Morgan Stanley and Renaissance Capital who resides in the U.K. The trans-Atlantic request was revealed in atrove of documentsfiled by the SEC Friday with the U.S. District Court of the Southern District of New York. The agency is seeking to halt the launch of TON, Telegram’s ambitious blockchain project, and the issuance of TON’s tokens, named grams. The SEC considers grams unregistered securities – an allegation Telegram has repeatedlydenied. Related:Telegram Founder Durov Should Testify in SEC Case Over Gram Token: Judge According to the Friday filing, the SEC is seeking Hyman’s testimony as he has been closely involved in raising funds for TON and communicated with “over a dozen” investors. Telegram CEO Pavel Durov described Hyman in January 2018 as the chief investment advisor at Telegram and the person who “runs the distribution of Grams,” the SEC says. Hyman “communicated with Grams purchasers, confirmed transaction details, and provided ongoing updates to investors about investments.” The filing, relying on the company’s email exchanges with U.S. investors, reveals some fundraising tactics used during Telegram’s unprecedented$1.7 billiontoken pre-sale. For example, in one email, Hyman said that Telegram “decided for regulatory reasons that we will never do any form of direct public offering, … the public will be able to buy grams once network is working … not from Telegram directly.” Related:Telegram Refutes All SEC Allegations, Asks Court to Dismiss in New Filing Writing to Google Ventures’ Blake Byers in May 2018, Hyman said there would be a third private round, in addition to the two completed in February and March – the plans that apparently got shelved at some point. The advisor has been also keeping an eye on the grey secondary market for grams that emerged immediately after the first round of sales in February 2018, the filing says. Although TON investors were strictly forbidden to resell their allocations under the threat of losing their future grams, the secondary market, in fact, flourished, with multiple offerings from small exchanges, brokers and individual OTC dealers, as CoinDesk previouslyreported. According to the communications between Hyman and one of the investors’ representatives, Telegram’s advisor would regularly ask for updates on the secondary market of grams. “Hi Stan have you seen any grey market gram activity if so at what prices,” one of Hyman’s emails read. The filing contains, among other attachments, an email exchange between Telegram CEO Pavel Durov and some of the prospective TON investors in the beginning of 2018. For example, in January 2018, Durov scheduled a meeting between himself, Hyman and the investment firm Kleiner Perkins’ partner Mamoon Hamid in London. The communication between Durov and Hamid started in October 2017, when Hamid was introduced to Durov by a person named Jared Leto – it’s unclear if the popular singer and actor himself was involved. However, the person used the email hosted on the celebrity’s official website Jaredleto.com. A request for comment from Leto’s agent was not immediately returned. Durov asked Hamid about his interest in investing in blockchain tech and said that he had to cancel his U.S. trip as the gram presale “reached 2x oversubscription too soon.” Hamid, in turn, told Durov that blockchain was “an active area of interest for me and K[leiner]P[erkins]. At my previous firm, Social Capital, we invested 2% into BTC in 2013 and we were one of the biggest investors in the DCG (Digital Currency Group) since 2011,” Hamid wrote. Apart from Kleiner Perkins, Durov introduced Hyman as Telegram’s chief investment advisor to other potential investors, including the founder of Insight Venture Partners Jerry Murdock, Dave Munichiello of Google Ventures, Pete Briger from Fortress Investment Group, Yosuke Sasaki and Rajeev Misra of Softbank. The SEC asked the U.S. court to issue a Letter of Request to the Senior Master of the High Court (Queen’s Bench Division) of England and Wales, requesting the deposition of Hyman, a UK citizen who is currently residing there, the filing says. The procedure is possible thanks to the Hague Convention, which allows courts to seek evidence and testimonies beyond their own jurisdictions, the filing says. Hyman won’t meet the SEC voluntarily, the filing says, this is why the court should be seeking the help of the overseas judicial system. Initially, SEC attorney Jorge Tenreiro reported contacting Hyman’s counsel, Greg Campbell, in London and got a response that Hyman agreed to appear voluntarily for a deposition. However, after that “Mr. Campbell has refused to return multiple phone calls and emails regarding Mr. Hyman’s deposition,” so the SEC decided to get the British court involved. The last emails sent between Tenreiro and Campbell attached to the filing are dated Nov. 27. In addition to Hyman’s testimony, the SEC is also seeking to obtain his written communications with Telegram’s leadership and investors, documents about his employment at Telegram and his own investment in grams. According to the SEC information, Hyman left his job at Telegram and is now working at Gram Vault, the custodian for grams that earlierclaimedto be working with TON’s largest investors. Gram Vault has alsonegotiatedthe listing of grams at the crypto exchange Poloniex, explaining that Telegram itself can not do so. Working at Gram Vault, Hyman also helped to establish a connection with the crypto custodian Anchorage, which was expected to be Telegram’s partner serving U.S. customers, according to his email exchange with the company. Anchorage wasn’t immediately available for comment. The filing also expands on the SEC’s reasoning about why it believes grams are unregistered securities, despite Telegram’s arguments to the contrary and the fact that itreportedthe offering as exempt under Regulation D. According to the SEC, Telegram claimed that the Grams Purchase Agreements (SAFT contracts) were exempt from registration requirements but did not claim the same for the gram tokens themselves. Plus, “in any event, the exemption from registration under Regulation D is not available to Telegram,” the filing says. Insisting that grams were securities by design, the SEC writes that Telegram allowed the investors to buy grams with a goal to later resell them with profit on a broad secondary market and did not take steps against that. “Telegram’s marketing materials reasonably led purchasers of Grams to view them as an investment into a common enterprise from which they could hope to profit based on Telegram’s efforts to develop a business,” the SEC said. As a result, the investors “acquired substantial quantities of Grams that would far exceed any purported use of the Grams in whatever ecosystem Telegram promised in the future.” Previously, the courtordered the depositionsof Telegram’s CEO Pavel Durov, vice president Ilya Perekopsky and investor relations officer Shyam Parekh. Telegram had topostponethe launch of its TON blockchain this October due to the lawsuit from the SEC. The company is expected to meet the SEC in court on February 18-19, 2020. • Telegram Releases Test Crypto Wallet Despite SEC Lawsuit • Telegram Token Investors Reject Refund Offer || The Crypto Daily – Movers and Shakers – 01/01/20: Bitcoin fell by 0.72% on Tuesday. Following on from a 2.09% slide on Monday, Bitcoin ended the day at $7,208.3. While ending the month of December down by 5.2% and the 4thquarter down by 13.5%, Bitcoin ended the year with an 88% gain. On the day, a mixed start to the day saw Bitcoin strike an early afternoon intraday high $7,333.0 before hitting reverse. Falling short of the first major resistance level at $7,387.97, Bitcoin slid to a late afternoon intraday low $7,161.3. The reversal saw Bitcoin fall through the first major support level at $7,167.57 before recovering to $7,200 levels. The near-term bearish trend, formed at late June’s swing hi $13,764.0, remained firmly intact, in spite of Bitcoin continuing to hold onto $7,000 levels. For the bulls, Bitcoin would need to break out from $11,000 levels to form a near-term bullish trend. Across the rest of the top 10 cryptos, it was a mixed day for the majors. Tezos (+1.96%), Bitcoin Cash SV (+1.55%), and Tron’s TRX (+0.46%) closed out the day in the green. It was a bearish day for the rest, however, with Litecoin sliding by 2.56% to lead the way down. Binance Coin (-1.01%), Bitcoin Cash ABC (-1.63%), EOS (-1.54%), Ethereum (-1.94%), Ripple’s XRP (-0.09%), Stellar’s Lumen (-0.94%), and also saw red. For the month of December, Tezos bucked the trend with a 1% gain, with the rest of the majors in the red. Stellar’s Lumen slid by 21.5% to lead the way down. Ethereum (-15.2%), Ripple’s XRP (-14.7%), Binance Coin (-13.2%), Litecoin (-13.0%), and Tron’s TRX (-13.0%) also saw heavy losses. It was a mixed bag for the year, however. Binance Coin (+116%) and Stellar’s Lumen (+109%) led the way. Litecoin (+38%) and Bitcoin Cash ABC (+38%) also saw solid gains. Ripple’s XRP and Tron’s TRX struggled, however, with the pair sliding by 47% and by 31% respectively. Through the current week, the crypto total market cap hit a Monday high $198.27bn before sliding to a Tuesday low $190.14bn. At the time of writing, the total market cap stood at $192.06bn. Bitcoin’s dominance continued to sit at 68% levels following relatively modest losses on Tuesday. Trading volumes had hit $80bn levels on Monday before easing back to sub-$70bn levels. At the time of writing, volumes were at $69bn levels. At the time of writing, Bitcoin was up by 0.66% to $7,255.7. Early on, Bitcoin slid to an early morning intraday low $7,185.4 before striking a high $7,256.7. Bitcoin left the major support and resistance levels untested early on. Elsewhere, Bitcoin Cash SV (+1.89%), Litecoin (+1.53%), Ethereum (+1.45%), Bitcoin Cash ABC (+1.44%), and EOS (+1.42%) led the way early on. Binance Coin (+0.96%), Ripple’s XRP (+0.64%), Stellar’s Lumen (+0.62%), Tezos (+0.19%), and Tron’s TRX (+0.43%) trailed. Bitcoin would need to steer clear of $7,235 levels to support a run at the first major resistance level at $7,307.10. Support from the broader market would be needed, however, for Bitcoin to break back through to $7,300 levels. Barring a broad-based crypto rally on the day, the first major resistance level and Tuesday’s high $7,333 would likely limit any upside. Failure to steer clear of $7,235 levels could see Bitcoin fall back into the red. A fall through to morning low $7,185.4 would bring the first major support level at $7,135.4 into play. Barring an extended sell-off, however, Bitcoin should continue to steer clear of sub-$7,100 levels. In the event of a sell-off, the second major support level at $7,062.5 should limit any downside. Thisarticlewas originally posted on FX Empire • EUR/USD Price Forecast – Euro Breaking Out • US Stock Market Overview – Stocks Rally and Finish the Year on a High Note • Litecoin, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – 01/01/20 • Cryptocurrencies Annual Market Recap – 2019 • Gold Price Futures (GC) Technical Analysis – Closed Inside Key Retracement Zone at $1512.40 to $1526.40 • GBP/USD Price Forecast – British Pound Continues To Power Higher || New Hampshire’s proposal to accept Bitcoin for tax payments fails: New Hampshire’s innovative state legislation that would have allowed state agencies to accept cryptocurrencies as payment for taxes has been retracted. The state House of Representatives announced the retraction on January 8 following a motion from the General Court’s Executives Departments Committee, which deemed the initiative as “inexpedient to legislate”. The main stumbling block for state agencies in New Hampshire was the volatility of Bitcoin and other cryptocurrencies, which could have turned into a significant expense for the state. “These changes would increase Department of Revenue Administration (DRA) expenditures by an indeterminable amount in FY 2020, in anticipation of an implementation date of July 1 2020,” the report states. “The DRA cannot estimate if any additional revenue would be generated due to the acceptance of cryptocurrencies. The volatility of accepting cryptocurrencies could affect revenues due to tax assessments being generated in US currency.” Ohio also experienced issues when trying to implement cryptocurrency tax payments into its existing system, with the initiative lasting less than a year. In November 2018, it became the first state to accept cryptocurrency for tax payments, only for the legislation to be suspended in October 2019 as the state’s treasurer, Robert Sprague, claimed that officials needed to ensure it was compliant with existing Ohio law. For more news, guides, and cryptocurrency analysis, click here . The post New Hampshire’s proposal to accept Bitcoin for tax payments fails appeared first on Coin Rivet . [Random Sample of Social Media Buzz (last 60 days)] None available.
Trend: up || Prices: 9344.37, 9293.52, 9180.96, 9613.42, 9729.80, 9795.94, 9865.12, 10116.67, 9856.61, 10208.24
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 2018-06-07] BTC Price: 7678.24, BTC RSI: 44.75 Gold Price: 1298.70, Gold RSI: 45.65 Oil Price: 65.95, Oil RSI: 41.65 [Random Sample of News (last 60 days)] Bitmain’s Antminer Z9 Mini Designed to Mine Zcash, Threatens ASIC Resistance: Mining hardware manufacturer Bitmain has announced the release of its new Antminer Z9 mini, an ASIC (application-specific integrated circuit) miner capable of mining any cryptocurrency running the Equihash proof-of-work (PoW) algorithm. This includes, most notably,Zcash. The companymade the announcementvia its Twitter page: “Pleased to announce the Antminer Z9 mini, an ASIC miner to mine #Equihash-based cryptocurrencies. To prevent hoarding and to let more individuals worldwide get one, we’ve set a limit of one miner per user. Order ... now while stock lasts!” Zcash (ZEC) is adecentralized and open-sourcecryptocurrency designed to offer users complete (but optional) privacy in transactions. In addition, Zcash has always used the Equihash PoW mining algorithm to prevent the progress of Zcash ASIC miners and has predominantly been mined by general-purpose GPU chips, which are popular amongst gamers. ASICs have long been a subject of controversy. Their introduction has led to centralized mining for some larger operations, and many have argued that ASICswork against the decentralized intentionsof various cryptocurrencies. In addition, Bitmain in particular has been accused in the past of leveraging its influence as a dominant player in the mining industry. Critics have claimed that Bitmain does not have a sizable competitor and boasts an unfair advantage when trying to centralize hash power. As such, Zcash mining, too, could wind up in the hands of only a few major mining companies like Bitmain. The development of ASIC hardware has already caused some cryptocurrencies to change their proof-of-work mining algorithm. Martin Kuvandzhiev, operations lead of Bitcoin Gold, which uses the same mining algorithm as Zcash, hasstatedthat an upcoming hard fork has been scheduled to ensure that the currency manages to stand against ASIC mining. Monero, meanwhile, has recentlyaltered its mining algorithmto counter ASIC hardware. It is possible that Zcash will follow suit and change its PoW mining algorithm as well, but no decision has been made on this issue as of yet. Just hours before Bitmain’s announcement, Zcash co-founder and CEO Zooko Wilcox didwrite in a forum postthat ASIC resistance “would probably become impossible long-term” but that he was struck by how essential GPU mining was to people in nations like Venezuela. “If Venezuelans try to import ASIC miners (i.e. for Bitcoin, currently), then they risk having the miners stolen or extorted by the army which controls all imports,” he explained. “I’m basically still in the same place now that I was four years ago when we first decided to go for widespread-distribution-of-coins at the expense of sunk-cost-incentive-alignment. I still think that widespread-distribution-of-coins is more important (but I still think it can’t last forever …).” This article originally appeared onBitcoin Magazine. || Facebook Inc.'s In-House AI Chip Is Bad News for Intel Corp.'s Nervana: In 2016, chip giantIntel(NASDAQ: INTC)acquired artificial intelligence chip start-up Nervana Systems. Nervana's technology was supposed to allow Intel to compete against graphics giantNVIDIA(NASDAQ: NVDA)in the market for processors that handle the training of neural networks. According to Intel, Nervana's dedicated neural network training chips were slated to provide "unprecedented compute density at an order of magnitude more computing power than today's state of the art [graphics processing units]." Image source: Intel. Late last year, Intel announced that it wouldbegin shipping its first Nervana Engine by the end of 2017and that it was "thrilled to haveFacebook(NASDAQ: FB)in close collaboration sharing technical insights as we bring this new generation of new AI hardware to market." Just a few months later,Bloombergreported that Facebook is working to develop its own hardware, likely for artificial intelligence and machine-learning workloads. Here's why this could spell trouble for Intel's Nervana efforts. While a giant like Facebook can certainly afford the expense of building its own chips, the reality is that it's a non-trivial undertaking. Facebook isn't in the business of building and selling chips to customers -- it's interested in making sure that the vast data center infrastructure that supports its platforms is as efficient as possible to keep its total cost of operating as low as possible. If a third-party company like, say, Intel is willing to do the work to build great solutions for this market (especially if it'd be hard to replicate the performance/efficiency of the third party solution), then it makes sense to simply use that third-party solution. Moreover, when there are many chip vendors vying to build the best solutions possible, a buyer like Facebook is usually in good shape in terms of hardware pricing, too, as competition naturally brings lower prices. It generally makes sense for a company to build its own chips in the following scenarios: • A company thinks it can do a better job of building a product tailored to its own requirements than any third party could. • A company wants a chip developed to run proprietary algorithms/techniques that it doesn't want to share with a third party for competitive reasons. Although it's conceivable that the second point is a key factor in driving Facebook to explore building its own chips, my guess -- based on the fact that Facebook gave Intel permission to name drop it in the Nervana chip press release last year -- is that it's more of the first one. Indeed, if Intel's Nervana chip is under-performing relative to the company's lofty claims (something that Facebook developing its own chips has me wondering about), and if the other dedicated machine-learning chip start-ups (there are a lot of them out there these days) can't deliver either, then it wouldn't be surprising for Facebook to think that its best chance of getting the hardware it needs is to build that hardware itself. Facebook may be designing its own chips, but it'll need a third party to manufacture them. While Intel has advertised chip manufacturing services of its own in the past, those efforts don't seem to have gained much traction. I believe, then, that if Facebook is successful in deploying its own artificial intelligence/machine-learning chip, it'll likely tap contract chip manufacturing giantTaiwan Semiconductor Manufacturing Company(NYSE: TSM)to manufacture the chips (since TSMC's manufacturing technology is arguably the best in the industry, and its track record is superb). Such orders wouldn't be a game changer for TSMC -- Facebook's order volumes for such a chip wouldn't be anywhere near those of, say, a mobile processor or even amerchant graphics processor-- but it'd be incremental revenue over the long term -- always a good thing. 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 Ashraf Eassaowns shares of Intel. The Motley Fool owns shares of and recommends Facebook and Nvidia. The Motley Fool recommends Intel. The Motley Fool has adisclosure policy. || Tesla and Skype Investor Tim Draper Predicts Bitcoin Will Hit $250,000 in 4 Years: How high can Bitcoin rise? Well, according to venture capitalist and Bitcoin bull Tim Draper, get reading for the cryptocurrency to reach $250,000 in four years. “Serious winds (of change) at our block (chain) party last night,” the founder of Draper Fisher Jurvetson wrote on Twitter regarding his Thursday cryptocurrency celebration, Blockparty. “I predicted $250k in 2022,” he added in a follow-up tweet after mistakenly posting $25k in an earlier one. The investor even had the prediction memorialized in a poster he unfurled at the party, placing it in front of his entrepreneurship program,Draper University: The investor, who led investments in Skype, Tesla, Twitter, and SpaceX, is known to have purchased $30,000 worth of Bitcoin from the U.S. government in 2014. Those funds fell into government hands after an exchange that heavily used the cryptocurrency,Silk Road, was shuttered. According to Draper, he was attracted to the idea of a digital currency not tied to a government. “So when Bitcoin showed up, I was all over it,”he toldFortunein January. DFJ also holds investments in other cryptocurrency-linked companies, such as exchange Coinbase. The prediction comes as the price of Bitcoin rises 17% to about $8,000. The cryptocurrency has struggled since the start of 2018, with investors worrying about signs of regulatory crackdowns from governments including that ofSouth Korea. Even now, the value of Bitcoin remains below its price at the start of the year, at about $14,000. It’s unclear how exactly Draper calculated a price of $250,000 by 2022. Some investors, such as Murray Stahl of Horizon Kinetics, hypothesize that Bitcoin is worth the value of all the currency in the world—about $361,000 per Bitcoin, byBarron’s estimates. That figure though assumes Bitcoin is indeed set to one day become a worldwide currency—a thought that even some cryptocurrency supporters, such as Mark Cuban, question. Investors and critics alike remark that as it stands now, Bitcoin does face scalability issues. The Bitcoin network is currently handlingabout 8 transactions during a second.Visameanwhile says it can handle about65,000 transactions per second at maximum. And while the cryptocurrency community has at times tried to address the issue, it’s also divided the group. Take the creation ofBitcoin Cash as an example.Bitcoin Cash “forked” off of Bitcoin in mid-2017 following a bitter dispute about the future of the cryptocurrency. In an attempt to lower transaction fees while speeding up the process, some developers proposed doubling the size of the blocks containing the record of transactions. Though other developers argued that the proposed change would undermine the decentralized basis of Bitcoin. And even now, the debate between Bitcoin Cash and Bitcoin still continues, with early Bitcoin believer Roger Ver now batting for Bitcoin Cash. “Bitcoin Cash is Bitcoin,” the investors wrote in a Twitter post, asserting that Bitcoin Cash is what Bitcoin should’ve been. || Those 600 Missing Iceland Bitcoin Miners Could Be in China: Iceland Big Bitcoin Heist With an inquiry to police in China, Icelandic authorities are checking to see if the 600 missing bitcoin miners from Iceland’s ‘Big Bitcoin Heist’ have surfaced in Asia. According to a report by the Icelandic National Broadcasting Service (RUV), the country’s national public-service broadcaster, the island’s police have sent Chinese police an inquiry about the latter’s seizure of 600 bitcoin mining rigs in late April. Chinese police confiscated the equipment in a case of alleged power theft after a local power grid operator in the northeastern city of Tianjin observed abnormally high spikes in electricity consumption. An investigation revealed a tampered junction box, allegedly by bitcoin miners who had tweaked the mains to avoid charges. Tianjin’s police claimed it was the “ largest case of power theft in recent years ” upon seizing the equipment, which also included eight high-power fans used to cool the mining operation. Curiously, the machines seized in China have the same count as the number of machines stolen in Iceland, 600 in total between four separate burglaries in December and January. 100 power sources, 100 motherboards, 100 memory drives and 100 CPUs were also stolen in the spate of thefts. Labeled as the ‘ Big Bitcoin Heist ’ by the Icelandic Media, the estimated value of the stolen equipment exceeds $2 million and is believed to be an organized crime leading to Iceland’s biggest ever theft. It remains to be seen if there is a connection between the two incidents in Iceland and China or a case of mere coincidence. The alleged mastermind behind the heist, Sindri Thor Stefansson, dramatically escaped an Icelandic prison through a window before taking a 60-mile trek to Keflavík International Airport before boarding a plane – which also carried Iceland’s prime minister – to Sweden. He was subsequently arrested in Amsterdam a week later and has since expressed regret for fleeing from that safe and comfortable prison in Iceland. Featured image from Shutterstock. The post Those 600 Missing Iceland Bitcoin Miners Could Be in China appeared first on CCN . || 3 Biotech Stocks That Soared This Week: Are They Buys?: It was a big week for the biotech industry with the kick-off of the much-anticipatedAmerican Society of Clinical Oncology (ASCO) annual meeting in Chicago. But not all of the excitement stemmed from the ASCO conference. Three of the top biotech stocks this week soared because of totally different catalysts. Madrigal Pharmaceuticals(NASDAQ: MDGL),Viking Therapeutics(NASDAQ: VKTX), andLexicon Pharmaceuticals(NASDAQ: LXRX)stocks ranked as especially big winners over the last few days. What lit a fire beneath these stocks -- and are they smart picks to buy now? Here's what you need to know. Image source: Getty Images. Madrigal Pharmaceuticals stockexploded this week, with the biotech's share price skyrocketing nearly 140%. No stock jumps that much without some really good news. For Madrigal, the really good news related to results from a phase 2 study of its lead candidate MGL-3196 in treating non-alcoholic steatohepatitis (NASH). On Thursday, Madrigal reported that MGL-3196 met its primary endpoint of reducing liver fat in patients with NASH in the phase 2 study. The biotech also had other positive news. Significantly more patients taking MGL-3196 achieved a two-point reduction in their NAFLD activity score (a measure of the severity of fatty liver diseases) than did patients on placebo. In addition, significantly more patients treated with MGL-3196 experienced NASH resolution than did patients on placebo. Those results were tremendously important for Madrigal because they could bode well for the chances for success for MGL-3196 in phase 3 testing. There are currently no FDA-approved treatments for NASH. Some predict that the annual NASH market could grow to as much as $35 billion in the coming years. Viking Therapeutics stockvaulted over 80% higher this week. But Viking didn't announce any clinical results. In fact, the biotech didn't have any news this week. It didn't have to. Madrigal's positive phase 2 results were all Viking stock needed to take off. Like Madrigal, Viking Therapeutics is developing an experimental drug that holds the potential for treating NASH. Viking's lead candidate, VK2809, is a thyroid hormone receptor beta-selective agonist. So is Madrigal's MGL-3196. Investors immediately recognized that positive results for MGL-3196 increase the likelihood that VK2809 could also be relatively safe and effective. Viking is currently conducting a phase 2 study of VK2809 targeting treatment of high cholesterol and non-alcoholic fatty liver disease, which includes NASH and other related diseases. Results from this study are expected in the second half of 2018. Lexicon Pharmaceuticals stock jumped 28% higher this week. Like Viking, Lexicon didn't announce any news. However, the stock's big gains didn't depend on another biotech's success. So, what was behind Lexicon's nice move this week? It's hard to say for sure. My best guess is that the stock moved higher due to a combination of two factors. One could be that investors are buying up shares in anticipation of FDA approval for Zynquista in treating type 1 diabetes plus short-sellers covering their positions. The FDA accepted the regulatory filing for Zynquista submitted by Lexicon's partner,Sanofi, on May 22. An approval decision is expected by March 22, 2019. Zynquista is expected to attain blockbuster sales levels if approved. The other potential reason behind Lexicon's gains could be thatshort-sellers are covering their positions. Nearly half of Lexicon'sfloatwas sold short prior to this week. I have liked Madrigal for several months. The latest clinical results for MGL-3196 make me an even bigger fan of this biotech stock. I'll be surprised if Madrigal doesn't get scooped up by a big drugmaker looking to bolster its NASH pipeline. Phase 2 success doesn't guarantee that MGL-3196 will perform well in phase 3 studies, but I'm optimistic about the drug's prospects. Viking Therapeutics hasn't been on my radar screen so far, but it definitely is now. I suspect that Madrigal's success opens the door for Viking to enjoy a similar run. Granted, Viking is still a risky stock. Just because its lead candidate has a similar mechanism of action as Madrigal's NASH drug doesn't mean VK2809 will be as successful as MGL-3196. However, I'm going to go out on a limb a bit and pick Viking as a stock to buy for investors who aren't afraid of high-risk and, potentially, high-reward propositions. That leaves Lexicon. If my hunch is right that we're seeing short-sellers cover their positions, Lexicon stock could move even higher. More importantly, I like the prospects for Zynquista and Xermelo, the biotech's carcinoid syndrome diarrhea drug that launched in March. My view is that Lexicon has a lot of potential that the market isn't pricing in yet. 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 Speightshas 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. || 'Ebay for CryptoKitties' Raises $2 Million from All-Star VCs: More money is being poured into crypto cats. Well, cats, and the slew of other non-fungible digital items made possible by new token standards, such as ethereum's ERC-721. And these crypto collectibles now have a home in OpenSea, a marketplace for allowing users to buy and sell these items - an Ebay for CryptoKitties if you will. Coming out of Y-Combinator last winter, OpenSea today announced a $2 million seed equity round led by 1confirmation, with participation from a series of other high-profile crypto investors, including Founders Fund, Foundation Capital, Blockchain Capital, Coinbase Ventures, Chernin Group, Stable Fund and Blockstack. China's IT Ministry: 2017 Saw 'Exponential' Blockchain Growth "When CryptoKitties came out, it was this exciting, mainstream, fun use case for blockchain," Devin Finzer, co-founder of OpenSea, told CoinDesk. Indeed, the ethereum-based decentralized application for buying, selling and breeding digital cats was a quick hit within the community, launching in November last year and peaking in December, when the game nearly brought the ethereum blockchain to a halt as it tried to deal with a significant increase in transactions. Many concluded that the game helped push blockchain technology and cryptocurrency into the mainstream, and others argued that the game displayed a blockchain use case that could expand away from silly cats and into serious business (such as real estate). For instance, Union Square Ventures and Andreessen Horowitz led a $12 million investment round to spin CrypoKitties out of its parent company so that the team could really dig deeper into future applications for the concept of non-fungible digital items. And while those serious applications have yet to be realized, a spate of similar games were created after CryptoKitties success, including the more general CryptoPets, CryptoCelebrities and Crypto All-Stars. Blockstack Announces 'Universal' Dapp Store for the Decentralized Web Story continues But according to OpenSea, users need a place to more easily buy and sell those items. It turns out OpenSea wasn't alone: the decentralized online marketplace for physical items OpenBazaar has plans to open up its platform for digital items such as CryptoKitties as well, plus OPSkins recently created Wax, a platform for spinning up decentralized exchange services for these items. So far, it looks like a fine idea, according to Finzer, who said: "We've so far had about half a million [dollars] in volume pass through our marketplace." The go-to marketplace One of the keys to OpenSea's success, according to Finzer, is the team's relationship with crypto game developers. As to be expected, OpenSea has done best in offering a "store" for games that don't already have built-in marketplaces (many game developers want to focus on the game and so aren't keen to building a marketplace on top). As those game developers hear about OpenSea, they've typically just made OpenSea the game's official digital shop. "We've kind of developed a synergistic relationship with game developers," Finzer said, adding that OpenSea offers a revenue share model depending on what marketplace duties are handled by what party (although Finzer declined to discuss this in more detail). Yet, OpenSea is available for more than just games, although that's the company's main stream of business. For instance, one art project used OpenSea and Finzer said it could also work as a marketplace for software licenses. We've barely scratched the surface on what these crypto collectibles and a marketplace for them could offer. One thing that's interesting about these programs, for instance, is that because a CryptoKitty, for example, is just a piece of code, different interfaces will create completely different visualizations of that cat (as recently displayed by a viral art image made purely from code). These different visualizations could be shared between users and might make the games even more fun. Zombies for kitties? Plus, Finzer wants to facilitate the trade of items that aren't even part of the same game. This would go above and beyond digital games today, where items that are part of a centralized game must stay within that universe, he said, adding: "I could be breeding zombies and you could be breeding kitties. I think what that results in is, these items having a lot more value than they would in the existing digital world." In fact, this kind of cross-collaboration has already happened - a new game called KittyRace allows users to race their CryptoKitties. This kind of thing, Finzer said, has garnered quite a bit of interest from other crypto gaming companies. This interest in digital items isn't new only to the world of cryptocurrency, though. In fact, the market for gold within the massively multiplayer online role-playing game World of Warcraft is so lucrative that prisoners in China are made to mine the stuff for sale to gamers in the developed world. Yet, Finzer said, he plans to stay out of the world of trading digital items for physical cash, namely because it's a business that's somewhat frowned upon, but also because he doesn't see a lot of opportunity in enticing more traditional gaming companies to move to a blockchain. "The technological benefits of moving an existing game to a blockchain are actually negative now," he said. That doesn't get Finzer down, though. He sees tremendous opportunity focused on crypto. He concluded: "Our thesis is that the most interesting use cases for blockchain-based games will come from new games rather than existing games." CryptoKitties image via CoinDesk archive Related Stories Wall Street Vet Brian Kelly Launches Blockchain ETF Circle Becomes 'Bitcoin Unicorn' with Bitmain-Backed Mega-Round || 3 Stocks That Could Put NVIDIA's Returns to Shame: Woulda, coulda, shoulda : Investors can drive themselves crazy playing that game, over stocks they "should" have bought years ago that went on to generate ridiculously high returns. NVIDIA (NASDAQ: NVDA) is just such a stock, as it's returned more than 1,500% over the last five years, far outstripping the gains posted by market darlings Amazon.com and Netflix . But just as the market itself is a forward-looking machine, we asked three investors to pick one stock they believe could put NVIDIA's returns to shame in the future. They chose Atlassian (NASDAQ: TEAM) , Appian (NASDAQ: APPN) , and Zillow (NASDAQ: Z) . People seated around a table in an office Image source: Getty Images. Teamwork equals growth Maxx Chatsko (Atlassian Company): Two years ago, collaboration software leader Atlassian sported a market cap of about $5 billion. After posting double-digit year-over-year revenue gains in every quarter since, the company has tripled its valuation to over $15 billion today. It was well-earned, but it could be just the beginning. The company provides various enterprise software products that allow teams to work together more efficiently, whether through daily messaging or task-tracking. It's a valuable niche. In its fiscal third-quarter 2018 (ended March 31), Atlassian grew revenue 40% compared to the prior year. Despite pouring money into growth, the software leader managed to shrink its operating loss by more than half and narrow its net loss slightly. However, unlike many hypergrowth tech companies, Atlassian sports a healthy cash flow: the business generated $229 million in operating cash flow in the last nine months. It also ended its most recent quarter with $764 million in cash and short-term investments. That will provide a great foundation for continued research and development, or a strategic acquisition like those management has pursued in the past. Simply put, the company is growing at a torrid pace in a fast-expanding market. With fiscal full-year 2018 revenue expected to land around $863 million, compared to just $620 million in fiscal 2017, there's no sign that Atlassian is anywhere near exhausting its market opportunity. The company provides investors with the ultimate combination of growth and profit potential, which is difficult to find. Story continues Many cloud icons labeled with power-on symbols and connected in a network Image source: Getty Images. If software and apps are the future... Nicholas Rossolillo (Appian): Software developers are in short supply in the U.S. as more businesses make digital transformations. While that's great news if you're in the business, the shortage is putting strain on employers trying to find and retain talent. According to Forrester Research , companies that lag behind in hiring could end up paying 20% more to recruit software developers and engineers in 2018. Enter Appian, a technology outfit that offers cloud-based services to help businesses make software systems and apps in a do-it-yourself, "low-code" environment. Appian is a leader in making digital development a snap, even for organizations that lack the advanced technical know-how of a software engineer, let alone an entire IT department. Appian has all the makings of a great growth story. It's still small, touting a current market cap of only $1.9 billion (NVIDIA's is at $150 billion). It's also posting strong numbers. Revenue grew 33% in 2017, and the first quarter of 2018 extended that growth with another 35% gain. Management thinks that its most important source of revenue -- subscriptions -- will grow at least 30% in 2018, helping eclipse the less reliable professional services revenue stream. Making the switch to a digital-first organizational enterprise is more important than ever, but it's also getting costlier to execute. That could be a great long-term tailwind filling the sails of this technology company. It could also provide the catalyst its stock needs to make big gains in the years ahead. The frame of a house under construction Image source: Getty Images. They're not making any more land Rich Duprey (Zillow): Since we're not in the real estate bubble that preceded the Great Recession, it may seem counterintuitive to select a company whose main focus is the buying and selling of houses. Zillow, however, may offer returns like the no-money-down craze that epitomized the go-go years of real estate investing -- but without nearly the same amount of risk. That's because Zillow currently generates around $1.1 billion in revenue through the sale of advertising to real estate professionals, who in return receive quality leads from buyers and sellers. Yet the company is also keenly aware that a downturn in the real estate market could pinch that revenue, as would interest rates that rise too much and dampen demand. Also, because it understands the real estate market so well, Zillow is now investing in real estate itself. It will create a marketplace where sellers can get an instant quote for their house; if accepted, Zillow will buy it, then turn around and flip the property. Since the company has its fingers on the pulse of the market, it can perform the work of real estate agents without having to involve them in the process. This could be a big opportunity; by matching other buyers and sellers, Zillow is essentially performing all the tasks itself. Without having to rely upon a fickle agent market, Zillow has the chance to soar. 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. Maxx Chatsko has no position in any of the stocks mentioned. Nicholas Rossolillo has no position in any of the stocks mentioned. Rich Duprey has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Amazon, Appian, Atlassian, Netflix, Nvidia, and Zillow Group (C shares). The Motley Fool has a disclosure policy . || Bitcoin Cash, Litecoin and Ripple Daily Analysis – 12/05/18: Bitcoin Cash Bears Reign Bitcoin Cash slumped 10.19% on Friday, following on from Thursday’s 6.94% slide, to end the day at $1,366.4. A morning rise through to an intraday high $1,556 fell well short of the day’s first major resistance level at $1,626.8, with selling pressure at the 23.6% FIB Retracement Level of $1,550 taking its toll through the late morning, Bitcoin Cash sliding through to an intraday low and new swing lo $1,300.1. The slide took Bitcoin Cash through the day’s first major support level at $1,453.8 and second major support level at $1,393.4 with ease before psychological level support at $1,300 kicked in to stave off bigger losses. The moves through the day reaffirmed the near-term bearish trend formation, with Bitcoin Cash closing at $1,300 levels for the first time since 2 nd May. At the time of writing, Bitcoin Cash was down 0.85% to $1,357, a start of the day move through to a morning high $1,426 left the day’s first major resistance level at $1,515.9 untested, while sellers came forward once more as Bitcoin Cash came within reach of the 23.6% FIB Retracement Level of $1,430 to pin Bitcoin Cash back early on, falling through to a morning low $1,331. Failure to move back through to $1,400 levels early will likely see more material declines, support levels proving to be of little comfort for investors who continue to pull out in fear of another tumble back to sub-$1,000 levels. We’ve yet to see the day’s first major support level at $1,259 be tested, but should sentiment not shift in the early part of the morning, sub-$1,300 levels are on the cards in the day. A move through to $1,400 levels would support another run at the 23.6% FIB Retracement Level of $1,430, with sentiment across the broader market to dictate whether Bitcoin Cash can break out and take a run at the $1,500 levels. It’s looking bearish for now and going in at current levels would need some tight stop losses to prevent exposure to another sell-off. Story continues BCH/USD 12/05/18 Hourly Chart Get Into Bitcoin Cash Trading Today Litecoin back in the $130s Litecoin tumbled 8.04% on Friday, adding on to Thursday’s 5.36% slide, to end the day at $136.5, Friday’s fall marking a 6 th consecutive day of declines. It was downhill all the way for Litecoin, falling through the day’s first major support level at $144.14 in the early morning before a slide through the day’s second major support level at $133.52 to an intraday low and new swing lo $133.52. The day’s high $148.5 left key resistance levels untested through the day, the moves through to the new swing lo $133.52 affirming the bearish trend reversal formed at 5 th May’s swing hi 182.35. At the time of writing, Litecoin was down 0.96% to $135.2, with an early move through to a morning high $139.2 falling short of the day’s first major resistance level at $145.49 and 23.6% FIB Retracement Level of $145. Litecoin’s slide resumed through the early morning, falling to a morning low $133.63, with the bearish trend reflected across the broader market. For the day ahead, a move back through to the morning’s $139.2 high would support a run at the day’s first major resistance level at $145.49, though for Litecoin to hold on to any gains and avoid selling pressure at the 23.6% FIB Retracement Level of $145, sentiment across the market will need to improve, Litecoin unlikely to be able to go it alone. Failure to move back through to $139 levels would support a continued sell-off in what could be 7 out of 7 for Litecoin this week, Litecoin having already coughed up 20% by the end of Friday. The day’s first major support level at $130.51 is certainly in play today, with any pullback through to sub-$130 levels bringing sub-$100 levels into play, investors likely to jump ship should Litecoin give up more ground. For the bolder investor, current levels are certainly attractive when looking at historical levels, but when factoring in the uncertainty over the regulatory outlook and classification of Litecoin, things could get worse before they improve. LTC/USD 12/05/18 Hourly Chart Buy & Sell Cryptocurrency Instantly Ripple sees threat turn reality and hits the $0.60s Ripple’s XRP slid 10.14% on Friday, following Thursday’s 6% slide, to end the day at $0.67468, Ripple XRP’s first visit to $0.60 levels since 20 th April. Friday’s fall also marked a 6 th consecutive day in the red, Ripple’s XRP joining the broader market in a mass sell-off that saw Ripple’s XRP form a bearish trend at 24 th April’s swing hi $0.96837, with a failure to break through to a fresh swing hi in early May weighing more heavily on Ripple’s XRP. Friday’s slide to an intraday low and new swing lo $0.64641 saw Ripple’s XRP slide through the day’s first major support level at $0.7258 and second major support level at $0.7051 before finding support at the third major support level at $0.6442. The moves through Friday affirmed the bullish trend reversal that will likely continue to weigh on sentiment through the weekend and the early part of next week. At the time of writing, Ripple’s XRP was down 3.87% to $0.6538, with an early move through to a morning high $0.69556 failing to break through to $0.70 levels to test selling pressure at the 23.6% FIB Retracement Level of $0.7224 and the day’s first major resistance level at $0.7389. A mid-morning slide saw Ripple’s XRP fall through to a morning low $0.65195, Friday’s sell-off resuming as investors continue to pull out, the early moves providing little evidence of a bearish trend reversal. For the day ahead, a move through to $0.70 levels would provide some confidence, with buying appetite likely to build on any break out from the 23.6% FIB Retracement Level of $0.7224, though the negative market sentiment will likely continue to pin back Ripple’s XRP through the remainder of the morning, bringing the day’s first major support level at $0.6284 into play. We would expect Ripple’s XRP to avoid sub-$0.60 levels today, with some support likely to kick in at $0.60, though caution would be needed at the $0.60 psychological support level, the market’s negative sentiment capable of pulling Ripple’s XRP back through to test the second major support level at $0.5822. It’s been a bad week and it’s unlikely to get much better, as Ripple’s XRP sees its April gains unravel. XRP/USD 12/05/18 4-Hourly Chart Buy & Sell Cryptocurrency Instantly This article was originally posted on FX Empire More From FXEMPIRE: Price of Gold Fundamental Weekly Forecast – Direction of Treasury Yields Will Dictate Next Move in Gold Bitcoin Bulls Look to Steady the Ship GBP/USD Fundamental Analysis – week of May 14, 2018 Dollar Gives Up Weekly Gains after U.S. Reports Soft Consumer Inflation Data Gold, Crude Oil Bulls Trim Positions Ahead of Weekend EUR/USD Fundamental Analysis – week of May 14, 2018 || Bitcoin In The Red Again, Sub-$7,000 Levels Now On The Cards: Bitcoin fell by 1.85% on Saturday, following Friday’s 1.58% fall, to end the day at $7,318.9, leaving Bitcoin down 14.1% for the current week. An early morning rally saw Bitcoin break into $7,600 levels with an intraday high $7,624.1, coming within reach of the day’s first major resistance level at $7,634.53 before easing back to $7,500 levels and a particularly range bound afternoon that left the day’s support and resistance levels untested until a late in the day sell-off. Bitcoin fell through the day’s first major support level at $7,298.63 to an intraday low $7,281 before recovering to $7,300 levels by the day’s end. Failing to break through the day’s first major resistance level, while testing the day’s first major support level reaffirmed the bearish trend formed in early May, with Bitcoin coming nowhere near the 23.6% FIB Retracement Level at $7,906.4 and $8,000 levels needed to begin a bearish trend reversal. There was no materially negative news hitting the wires to pin Bitcoin back through the day, with investor sentiment continuing to be on the bearish side following news out of the U.S, South Korea and Japan in recent weeks on probes into cryptomarket exchanges and trading practices. Get Into Cryptocurrency Trading Today At the time of writing, Bitcoin was down 0.81% to $7,268, with the late Saturday sell-off spilling into the early hours of the day. A start of the day intraday low and new swing lo $7,220 managed to hold above the day’s first major support level at $7,191.9 before recovering to current levels, though the Bitcoin bulls are certainly not out of the woods yet, with Bitcoin’s first major resistance level at $7,535 and 23.6% FIB Retracement Level of $7,906.4 some way off. For the day ahead, a move back through the morning’s $7,330.8 high to $7,410 would support a run at the day’s first major resistance level at $7,535 before any reversal, with Bitcoin investors likely to face plenty of resistance at $7,500, pinning back any run at the day’s second major resistance level at $7,751 and the 23.6% FIB Retracement Level of $7,906.4. Story continues Investors have continued to lock in profits early, leading to the downward trend in daily highs, with Bitcoin now having failed to touch $8,000 levels for a 3 rd consecutive day. Failing to move back through to $7,400 levels would support another day in the red, with Bitcoin likely to test the day’s first major support level at $7,191.9 and the second major support level at $7,064.9 before any recovery. How far Bitcoin slides before a bearish trend reversal kicks in remains to be seen, but sub-$6,000 levels will likely be in sight, particularly when considering what’s to come for the cryptomarkets this summer, global and ‘in-country’ regulations expected to hit the markets hard. With Bitcoin in the red, the rest of the majors followed, Stellar’s Lumen seeing the heaviest losses, down 2.97%, with Monero down 2.33% and Bitcoin Cash down 2.37% and things could get worse should hopes of a weekend rally continue to fade through the morning. BTC/USD 27/05/18 4-Hourly Chart Buy & Sell Cryptocurrency Instantly This article was originally posted on FX Empire More From FXEMPIRE: Natural Gas Futures (NG) Technical Analysis – Closing Price Reversal Top May Lead to Short-Term Correction FxPro and McLaren F1™ Team Announce Partnership Agreement NZD/USD Forex Technical Analysis – Bullish Over .6952, Bearish Under .6914 S&P 500; US Indexes Fundamental Daily Forecast – Mixed on Friday, but Up for Week Bitcoin In The Red Again, Sub-$7,000 Levels Now On The Cards ICO vs. DAICO: What’s the Difference? || Better Fuel Cell Stock: Plug Power (PLUG) vs. Ballard Power Systems (BLDP): Now more than at any point in history, governments, industries, and companies are investing to reduce the carbon intensity of their respective growth and consumption. Electric modes of transportation and portable power sources are often seen as some of the best ways to accomplish that, and their rising popularity could finally create a sustainable market for fuel cells. Despite being around for decades, fuel cell technology has gained relatively little traction outside of specialty applications. That much becomes clear after taking a look at fuel cell stocksPlug Power(NASDAQ: PLUG)andBallard Power Systems(NASDAQ: BLDP). The companies generated just $235 million in revenue combined last year. While that would seem to indicate that the technology has a ways to go, a closer look shows both companies are on an upward trajectory as they position to exploit decarbonization trends. It also reveals two different growth strategies. Given those differences, one question remains: Is Plug Power or Ballard Power Systems the better buy? Image source: Getty Images. Plug Power is focused primarily on designing portable power systems for material handling equipment, such as forklifts in warehouses. It's a great application for fuel cells because forklifts require relatively little power (compared to passenger vehicles or trucks) and can easily return to a central base to refuel. Since fuel cell forklifts don't produce harmful emissions, they can also be used in certain industries, such as food handling, where even propane-based machines are forbidden. Material handling is shaping up to be a promising market for Plug Power. It was the driving force behind a 20% year-over-year leap in total net revenue in 2017 as the two largest customers,AmazonandWalmart, put more of the company's products to the test. While boasting blue chip customers is lucrative, the extreme level of dependency on the two -- which represented nearly 72% of all revenue in 2017 -- is a huge risk. And it's not the only source of discontent for shareholders. The fuel cell provider is definitely enjoying the benefits that come from economies of scale for its maintenance services business, whichcould be profitable as soon as 2018thanks to a growing number of the company's products in the wild. But Plug Power is not deriving any benefit from two other parts of its business, purchase power agreements (PPA) and fuel delivery services, which continue to lose money as they grow. Without these two segments, the company would have posted a gross profit of $15.6 million in 2017 (barring a provision for common stock warrants). Instead, it delivered a gross profit of $1.6 million (again barring the provision). It seems shareholders would be better off if management simplified its strategy. Nonetheless, this year's strong first quarter puts Plug Power on track to meet its full-year total revenue guidance of $155 million to $180 million. Image source: Getty Images. Ballard Power Systems is taking a different approach to exploit the industry's near- and long-term growth potential. The company manufactures the stacks that make up a fuel cell (similar to how a lithium-ion battery is composed of many individual cells) and its own brand of fuel cells for various applications. In fact, the company supplies the stacks that go into Plug Power's core product for material handling markets, called GenDrive, although the peer is also ramping up sales of its own stack products for different applications. That said, supplying stacks is really just a way to more fully monetize its expertise. Thecore businessis focused on supplying its fuel cell products to small-scale portable power, material handling, power backup systems for the grid, and transportation applications. Management is going all-in on the two biggest opportunities: power backup andtransportation. That's demonstrated by the fact that Ballard Power Systems generated 94% of product revenue from these sources in the first quarter of 2018. While total revenue slipped compared to the year-ago period, the business has gained traction in recent years -- even posting positive adjusted EBITDA in 2017. Revenue growth is expected to be stagnant as the company focuses on developing markets for longer-term opportunities, such as through the deployment of hundreds of commercial trucks in China this year and 40 buses in Germany in 2019. The company's products are even being tested in unmanned submarines and boats. Investors should know that management's bold bet may amount to an all-or-nothing strategy. Most collaboration programs are still in testing or demonstration phases. Although they could generate profitable business and growth in the coming years, the markets in which Ballard Power Systems is competing may choose lithium-based batteries as the portable power source of the future. That could leave fuel cells with a significantly reduced market opportunity relegated to niche applications. Image source: Getty Images. If Plug Power jettisoned its PPA and fuel delivery segments, then it might have the opportunity to build a formidable business in the niche material handling industry. Unfortunately, those two money-losing parts of the business might be the only way the company can keep its large customers on board (Amazon and Walmart probably don't want to be bothered with the logistics of sourcing fuel). That, and the fact that it's so dependent on just two customers in the first place, increases the risks of owning the stock. Ballard Power Systems has a stronger, higher-margin business than its peer as it focuses on supplying fuel cells for portable power applications in material handling, commercial trucking, urban buses, and more. The number of shots on goal bode well for its future potential and make it the better buy in this matchup. That said, I would strongly encourage investors to avoid fuel cell stocks altogether, or at the very least to approach them with extreme caution. There are inherent risks to fuel cell technologies that are likely to limit the share of the portable power applications market they can capture in the long term. 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.Maxx Chatskohas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Amazon. The Motley Fool has adisclosure policy. [Random Sample of Social Media Buzz (last 60 days)] Le Novità di ASSODIGITALE – News Bitcoin Ethereum ICO Criptovalute Tecnologia del 06/05/2018 - http://eepurl.com/dxbtn1  || @_Kevin_Pham Can't PoS coins just be easily copied by anyone? Corporations Governments and the like? PoW works because of the massive expense for a government or big company to run a BTC clone on their own. || Block 520701 Hash: 0x...04acaa00b81fa4fd5cd56a9dc8df38f7a88c924835d0e9 Size: 1.13MB Txs: 2,551 SegWit spends: 38% 4,800 in → 9,613 out Out/In Ratio: 2.00 Out Value: $175,395,764 | 18,996 btc Fees Total: $6,212 | 0.67 btc Highest: $143.94 Median: $0.28 Lowest: $0.03 pic.twitter.com/BKZqhpR4k7 || :))) Bitcoin Killed Again, Reaches Historic Number of Deaths https://dailyhodl.com/2018/06/05/bitcoin-killed-again-reaches-historic-number-of-deaths/ … #BTC || Apple Co-Founder Wozniak Hopes Bitcoin Will Become Global Currency | Fortune #SmartNewshttp://fortune.com/2018/06/05/steve-wozniak-bitcoin/ … || 3hours ranking 05/04 12:00～15:00 ↑BTC_ZRX ↑BTC_GAS ↑BTC_XPM ↓BTC_DGB pic.twitter.com/sXubpcieCz || Binance is accepting new users! 40% referral bonus!!!!!! Register link and bonus http://binance.com/?ref=19191270  $ETN $BTC $ETH $XRP $BCH $EOS $LTC $ADA $XLM $TRX $NEO $XMR $DASH $XEM $USDT $VEN $ETC $BNB $BCN $XVG $TUSD $KIN #crypto #blockchain #cryptocurrency #cryptocurrencynews || Glad to be a part of this awesome project. #YLC #CMC #ETH #BTC #TokenizedFranchising #Airdrop #Blockchain #bountyhttps://twitter.com/YoloWorldorg/status/1003869067164258304 … || What is #NoLimitCoin and why is it doin so well the last 24h (80+%)? #Crypto #Bitcoin #NLC2 #altcoin || Bitcoin Won’t Be Global Currency: Ripple CEO Brad Garlinghouse https://www.ccn.com/bitcoin-wont-be-global-currency-ripple-ceo-brad-garlinghouse/?utm_source=Sociallymap&utm_medium=Sociallymap&utm_campaign=Sociallymap …pic.twitter.com/aw8nhJjzoq
Trend: down || Prices: 7624.92, 7531.98, 6786.02, 6906.92, 6582.36, 6349.90, 6675.35, 6456.58, 6550.16, 6499.27
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 2019-07-12] BTC Price: 11815.99, BTC RSI: 56.34 Gold Price: 1409.90, Gold RSI: 64.13 Oil Price: 60.21, Oil RSI: 60.97 [Random Sample of News (last 60 days)] Fundstrat’s Tom Lee: Bitcoin Is Easily Going to Reach New Highs: Fundstrat Global Advisors co-founderTom Leesaid that bitcoin (BTC) could easily reach new highs during an interview withCNBCpublished on June 18. In his comments, Lee said that bitcoin is becoming the reserve currency of the cryptocurrency space, and noted that it has been worth over the $9,000 price level in only 4% of its history. Then, he declared: “I think bitcoin is easily going to take out its all-time highs.” Before making those pricepredictions, Lee also noted thatFacebook’sLibra project is a validation of mainstream interest in cryptocurrencies. He also stated that he thinks this development “completely destroys this argument that says ‘I believe in blockchain, not bitcoin.” He also expressed his idea that — while he believes libra is going to be one of the dominantstablecoins— other stablecoins will most likely survive: “I don’t think that they are gonna drop in value because most of them are collateralized, I think the ones that are algorithmically stable just might not have the network effect.” When asked whether banks will support libra in the future, Lee noted that the decentralization of finance — while convenient for payment processors — results in a negative return forbanks: “One thing to keep in mind: Facebook’s annual revenue per user is probably $50 [...] that may be a little high. But an average bank generates close to $1,000 per user, so Facebook has a 20x upside to their customer model if they start doingbankingservices. [...] I can see why banks aren’t really enthusiastic about this.” Earlier today, the head of theUnited Kingdom’scentral banksaidFacebook’s new libracryptocurrencycould have genuine use cases if it can conform to regulatory demands. As Cointelegraphreportedat the time, Lee had claimed in May that thecryptowinter is over. • CME: Open Interest in Bitcoin Futures Contracts Hit All-Time High • FT: Facebook Hires Standard Chartered Bank’s Head of Public Affairs for Crypto Project • Facebook Has Not Applied for RBI Approval to Operate Libra in India: Report • KuCoin Lists Binance Coin, Supports Binance Chain Projects || Look to Smart Beta Stock, Bond ETFs to Limit Market Risks: This article was originally published on ETFTrends.com. With volatility rearing its ugly head again, ETF investors should look to strategies that mitigate risks but still keep them in the markets to capture further upside potential. "We want to be investing, maybe a little bit more cautiously. So, I think of U.S. equities, but with a quality and value tilt to them," Samantha Azzarello, Executive Director, Global Market Strategist, JP Morgan Asset Management, said at Inside ETFs 2019. For example, ETF investors may consider smart beta strategies that focus on the quality and value factors, such as the multi-factor JPMorgan Diversified Return US Equity ETF ( JPUS ) , along with single-factor strategies, including the J.P. Morgan U.S. Value Factor ETF ( JVAL ) and J.P. Morgan U.S. Quality Factor ETF ( JQUA ) . When considering factor-based investments or smart beta ETF strategies, investors may take broad strokes that cover multiple investment factors for a diversified approach or pick and choose individual factor exposures. The underlying customized FTSE Russell indexing methodology selects components based on a diversified set of factor characteristics, such as relative valuation, price momentum and quality. The enhanced indexing process would allow the ETFs to exclude expensive, low-quality companies with poor momentum, which could help the ETFs diminish drawdowns without sacrificing too much from any potential upside of a market recovery. Additionally, ETF investors can also looked to customized strategies on the fixed-income side. "We need to be smart about fixed-income, so we need to know what we own, and traditional indices might not be cutting it," Azzarello added. For instance, the JP Morgan US Aggregate Bond ETF ( JAGG ) holds a diversified portfolio of high-quality fixed income securities, including corporate bonds, U.S. Treasuries and government and agency securities, but the ETF applies a multi-factor credit screening process that seeks exposure to corporate debt issuers with attractive value, quality and momentum characteristics. Story continues Watch the full interview between ETF Trends CEO Tom Lydon and Samantha Azzarello: For more ETF-related commentary from Tom Lydon and other industry experts, visit our video 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 Stock Markets Tumble To Lowest Levels Since March 8 High Flying Biotech ETFs for 2019 U.S. Markets Fall Swiftly Before Close On Renewed Trade Fears 5 REIT ETFs To Consider For Long Term Profits $30,000 Bitcoin By The End Of The Year? READ MORE AT ETFTRENDS.COM > || 5 Signs the U.S. is Headed Toward a Slowdown: This article was originally published onETFTrends.com. BySage Advisory We are in the longest U.S. economic expansion in modern history. Barring a black swan of epic proportions this month, the U.S. economy will break the record in June for the longest expansion since 1854. The current leader, which is soon to be surpassed, is the 1990’s economic expansion, which lasted for 10 years. Is this a cause for a celebration, or is the economy due for a downturn? Economic expansions don’t die of old age. Just because the expansion has lasted this long doesn’t mean it should end. In fact, there are many positive indicators of why this expansion should continue. Private-sector balance sheets remain strong, as financial assets and home prices are near all-time highs. The labor market is solid – the U.S. unemployment rate stands at 3.6%, just 0.2% from its all-time low. Inflation remains subdued and serves as a tailwind to the economy, as the Federal Reserve has not moved to tighten conditions. An additional positive indicator, the Chicago Fed’s National Financial Conditions Index, which indicates conditions in debt, equity, and “shadow” banking systems, illustrates that financial conditions are at their easiest levels post-crisis. However, we’re starting to see initial signs that the economy could be softening. While we don’t believe these indicators point to an imminent recession, the economy is experiencing a material slowdown that warrants observation for the remainder of the year. 1) Business Loan Activity The Federal Reserve’s Senior Loan Officer Survey’s measure of business loan activities points to moderation in business investment. The percentage of loan officers reporting stronger demand are the lowest in the post-crisis period, while loan standards have moved tighter since the second half of 2018. 2. Transport Volume Key transportation indicators have turned negative. The Association of American Railroads has reported a slowing in U.S. rail traffic volumes, with total volumes falling in the first 17 out of 19 weeks in 2019. 3.Industrial Output Capacity Utilization, which measures the percentage of realized potential industrial output and economic slack, has been declining since its peak in October 2018 and is at a 14-month low. 4. Manufacturing Demand The widely followed ISM Manufacturing Purchasing Manager’s Index (PMI), which surveys purchasing managers at over 300 manufacturing firms, has moved sharply lower in recent months. A PMI index above 50 indicates an expanding economy, and a move below 50 indicates a contraction. While the indicator stands in expansionary territory at 52.5, it has declined from its peak in August 2018 of 60.8. A sustained move below 50 would signal a serious slowdown, if not a recession; however, we are not there yet. 5. Economic Activity The Chicago Fed’s National Activity Index, which is a composite of 85 indicators of national economic activity, has turned lower and points to below-trend growth in recent months. As the U.S. economy moves into its longest expansion in modern history, we are seeing signs of a slowdown bubbling under the sanguine labor market and easy financial conditions. Whether the dip is transitory, as it was in 2016, or a herald of a larger slowdown remains to be seen. It all depends on the outlook for monetary and fiscal policy, as well as a potential fallout from slowing global trade. This article was written by the team atSage Advisory, a participant in theETF Strategist Channel. Disclosures: This is for informational purposes only and is not intended as investment advice or an offer or solicitation with respect to the purchase or sale of any security, strategy or investment product. Although the statements of fact, information, charts, analysis and data in this report have been obtained from, and are based upon, sources Sage believes to be reliable, we do not guarantee their accuracy, and the underlying information, data, figures and publicly available information has not been verified or audited for accuracy or completeness by Sage. Additionally, we do not represent that the information, data, analysis and charts are accurate or complete, and as such should not be relied upon as such. All results included in this report constitute Sage’s opinions as of the date of this report and are subject to change without notice due to various factors, such as market conditions. Investors should make their own decisions on investment strategies based on their specific investment objectives and financial circumstances. All investments contain risk and may lose value. Past performance is not a guarantee of future results. Sage Advisory Services, Ltd. Co. is a registered investment adviser that provides investment management services for a variety of institutions and high net worth individuals. For additional information on Sage and its investment management services, please view our web site atwww.sageadvisory.com, or refer to our Form ADV, which is available upon request by calling 512.327.5530. 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 • Marijuana ETF YOLO Looks Toward A Budding Future • 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 READ MORE AT ETFTRENDS.COM > || When is Bitcoin FOMO going to kick in?: Bitcoin has made a 130% gain so far this year. The stock markets are down amidst the US-China trade war, which usually spurs investors toward safe-haven assets. But people aren’t buying gold. Institutions are leaping on the blockchain bandwagon one after another, with Bitcoin trading at a massive 37% premium on Grayscale . Facebook is also entering the space, as are JP Morgan and Fidelity… the list of household names with Bitcoin FOMO is getting longer. So why aren’t the crowds going wild? When is Bitcoin FOMO going to kick in? Around the time of the industry’s most important conference of the year – Consensus – earlier this month, Bitcoin shot up by over $1,000 overnight. eBay announced (and later retracted) that it would be accepting cryptocurrency payments. Microsoft came out with its plans to build on the Bitcoin blockchain. North American food chain Whole Foods also joined the revolution and the price started to soar. Yet despite what historically causes a massive “gold rush” of retail investors suffering from Bitcoin FOMO, this rally is far from retail-driven. In fact, it appears to be the institutions that are scared of missing out. Grayscale Bitcoin Trust accumulated 11,236 bitcoin in April alone. Currently 54,000 bitcoin are mined per month. Right now, they are buying up 21% of the new supply of bitcoin. In a year, the halvening will double that number to 42% of the supply. Institutions are FOMOing. — Rhythm (@Rhythmtrader) May 29, 2019 With the Bitcoin halvening happening next year, Bitcoin is becoming more scarce and more valuable. More of it will be owned by institutions. How can you tell when retail investors are gripped by Bitcoin FOMO? That might sound like a stupid question. After all, the price would just go up, right? Well, yes. However, there are some other indicators that can alert us to a possible retail buying spree. Story continues Google Trends What do most people do when they want to find out more about something? They turn to Google for their answer. Of course, Google may not be the only search engine around the world, with Yandex, Baidu, and a plethora of privacy browsers. But when it comes to market leadership, Google still takes the cake with 88.47% of the market share in April 2019. So, with all the action going on in the markets right now, you would imagine that searches for Bitcoin would be going through the roof. Not so much. In fact, take a look at the information below from Google Trends and you’ll see that interest in Bitcoin is hovering around the same level as it was in May 2017, way before Bitcoin FOMO started in earnest. Out of the countries where Bitcoin searches take the lead, the top three are in Africa. That could be attributed to increasing awareness due to African blockchain conferences, and increasing use cases as well. Where legislation strangles businesses trading internationally, it’s much easier to send and receive payments in Bitcoin. Nigerians have seen a massive devaluation of their local currency in recent years. This could also be behind Bitcoin purchases by people trying to shield their savings. Austria and the Netherlands have recently had major Bitcoin conferences and an outpouring of institutional support that could be driving curiosity. But still… Bitcoin FOMO is not at a significant height anywhere around the world at the moment. LocalBitcoins trading volume Another indicator to use is to look at data form LocalBitcoins for each country. Again, this hardly confirms Bitcoin FOMO. Globally, this week has seen a modest rise in Bitcoin purchases, but it’s still a far and distant cry from the 2017 Bitcoin mania. Even in Nigeria, which registers the most Bitcoin searches, purchasing volume on LocalBitcoins has dropped this week. Why is the public so cautious about Bitcoin this time around? It could be tighter regulation in countries like China and the US. Or maybe greater education and fear of losing funds from hackers. Perhaps many investors were simply burned last time – buying at an all-time high – and are still waiting to recoup their losses. But the bullish trend looks set to continue In terms of returns in 2019, Bitcoin has outperformed every other asset and run circles around oil, gold, commodities, and even the S&P 500 and Nasdaq. With more institutional adoption, increasing trade tensions, and the Bitcoin halvening coming up, the bullish trend looks set to continue. There are some analysts like Tone Vays that are calling for a pullback. However, it appears that the majority of traders and industry experts expect Bitcoin to continue climbing. Jehan Chu, co-founder and managing partner of Kenetic, recently spoke to Bloomberg and is calling for an all-time high of $30,000 by the end of this year. He is also extremely bullish on Ethereum and Ripple. So, the question definitely isn’t whether Bitcoin FOMO will set in, but when and where it will happen first. The post When is Bitcoin FOMO going to kick in? appeared first on Coin Rivet . || Bitcoin Cash experienced a 2-block reorganization following its scheduled hard fork on May 15: Following thescheduled hard fork on May 15, Bitcoin Cash experienced a series of seemingly related problems, which ultimately resulted in a 2-block reorganization. Shortly after the hard fork, an attacker exploited a bug in Bitcoin ABC (which could have been exploited even before the hard fork) by sending transactions that fulfilled the requirements of a valid transaction but failed the consensus checks. This resulted in miners producing blocks that were nearly empty. Nearly at the same time, there was a 2-block reorganization, in which not all the transactions from the orphaned blocks made it into the main chain. A 25-transaction double spend attack had taken place with the output value of 3,392 BCH (~$1.3 million at the time),according to BitMEX Research. It's not yet clear whether the reorganization was deliberate or rather accidental. Most of the outputs appeared to have been double spent around 7 blocks after the orphaned block. BitMEX Research said that the success of the reorganization is not positive news for Bitcoin despite having more than 22 times higher hash rate. It said: "In some ways, these incidents contribute to setting a dangerous precedent. It shows that it may be possible in Bitcoin. Alternatively, this could just illustrate the risks Bitcoin Cash faces while being the minority chain." || Cyber Saturday—Facebook Data Ownership, WhatsApp Phone Hack, 'Blockchain Week': New York City’s just-concluded “blockchain week” was palpably more subdued than it has been in years past. (Or maybe I was just not invited back to the parties aftermy 2018 travelogue.) In any case, I took a brief break from the madness of theFortune 500 issue closeto drop by theConsensus conference, the week’s marquee event, where I moderated a security-themed panel on Monday. My panelists were Tom Glocer, the lead board director ofMorgan Stanleyand former chief executive of Thomson Reuters, and Nadav Zafrir, the CEO of startup foundry Team8 and former head of the Israeli Defense Forces’ Cyber Command and Unit 8200, Israel’s equivalent of the U.S.’s National Security Agency. (For a recording, seevideo No. 15 here.) Below are some soundbites from our conversation. I asked Glocer about a post he had published in the fall on hisexcellent personal blogin which he pondered who, or what, shouldown people’s data. His response imagined a world in which people might own their own information and where they would, using individual digital wallets, license the rights to corporations. undefined Since he brought it up, I asked Glocer for his thoughts onbreaking up Facebook. undefined The audience tended to agree. When I asked them whether Facebook should get the Sherman Anti-Trust treatment, only about a third of the crowd raised their hands. Facebook, through the malicious hijacking of its targeted marketing machinery, has greatly contributed to an erosion of faith in traditional institutions. Nadav Zafrir summed up the predicament well. When I asked him what is the most pressing, most frightening threat the world faces, he replied without hesitation. undefined Of course, retaking control of the situation is no simple task, even with the advent of blockchain technology. Zuckerberg is, for his part, exploring how he might reestablish the foundations of his media empireon the footing of blockchains, cryptography, and private messaging. With all the consumer backlash and heat from regulators, it will no doubt take expert jiu-jitsu to pull off. May the groundwork commence. Robert Hackett @rhhackett [email protected] Welcome to the Cyber Saturday edition of Data Sheet,Fortune’s daily tech newsletter.Fortunereporter Robert Hackett here. You may reach Robert Hackett viaTwitter,Cryptocat,Jabber(see OTR fingerprint on myabout.me), PGP encrypted email (see public key on myKeybase.io),Wickr,Signal, or however you (securely) prefer. Feedback welcome. 1. THREATSDial ‘W’ for ‘WhatsApp hack.’Asecurity hole in Facebook’s WhatsAppmessenger allowed hackers to inject spyware onto mobile phones merely byringing up targets, even if the receiver did not answer the call, theFinancial Timesreported. The spyware originated with NSO Group, an Israeli hacking tool maker, which vowed tocurb misuse of its technology. WhatsApp engineers scrambled torelease a patchfor the vulnerability on Monday. For the technically curious, here’s a post by Israeli cybersecurity firm Check Point that describeshow the hack worked. (Side note: cybersecurity Twitter bashedBloomberg, rightfully, fortweetingthat “WhatsApp’s hack shows end-to-end encryption is largely pointless.”)Speaking of Facebook and Israel…In addition to the WhatApp fiasco, Facebookgave the bootto an Israeli company, Archimedes Group, that ran disinformation campaigns and influence operations across the site. The offender had 65 accounts, 161 pages, dozens of groups, and four Instagram accounts that attempted to disrupt elections in countries across Africa, Latin America, and Southeast Asia, theAssociated Pressreported. Meanwhile, Facebook’s chief technology officer, Mike Schroepfer,recently teared upwhen aNew York Timesreporter asked him why it took the company an hour to remove a livestream video of the Christchurch massacre from the site.Knitting the patchwork.This was a big week for vulnerability disclosures. The researchers who last year warned the world about the “meltdown” and “spectre” computer chip vulnerabilities found anew setofhackable vulnerabilities in Intel chips. Microsoft took the unusual step of releasing updates for deprecated operating systems so as topatch “wormable” security holes. Researchers foundholes in Cisco enterprise routersthat allow forsecurity bypasses. Adobe patched severe security issues inFlash, Reader and Acrobat. Google isreplacing hardware security keysthat have aBluetooth hijacking bug. Stack Overflowannouncedasecurity breachwhichexposed some user data. And there’s some uncertainty about whether a few antivirus software vendors—including Symantec, Trend Micro, and McAfee—were breached.A face in the crowd.San Francisco hasbanned the useof facial recognition technology by the police and other agencies. The city’s board of supervisors passed the action in an8-to-1 vote. Although the technology helped identify a mass shooter in Annapolis, Md., civil liberty advocates have objected to the spy tech, arguing that its potential for abuse by the government runs too high.Femme fatales.The latest issue ofThe Atlantichas a fascinating read about the history offemale spies. The piece highlights a number of books on the subject:D-Day Girls,Madame Fourcade’s Secret War,Code Name: Lise, andA Woman of No Importance.(I just spotted someone tearing through that last one on the subway, so it must be good.) By the way,Fortuneis adopting a“50-50” gender parity initiativethat strives for equal representation between the sexes. You can read more about it in this recentWashington Poststory.Thewall we need?Share today’s Cyber Saturday with a friend:http://fortune.com/newsletter/cybersaturday/Looking for previous Data Sheets? Clickhere 2. ACCESS GRANTEDMob rule.Democracy, like any marketplace, is only as good as the information that props it up. Using new technologies, attackers are muddying and manipulating public fora. “[T]he open forms of input and exchange that it relies on can be weaponized to inject falsehood and misinformation that erode democratic debate,” write Henry Farrell, a George Washington University professor of political science, and Bruce Schneier, a cryptographer and cybersecurity professional affiliated with Harvard Law School, forBoston Review. Here’s an excerpt:undefined 3. FORTUNE RECONExclusive: Scammed Porn Watchers Have Paid Nearly $1 Million in Bitcoin Blackmailby Jeff John Roberts‘Zombieload’ Flaw Lets Hackers Crack Almost Every Intel Chip Back to 2011. Why’s It Being Downplayed?by Alyssa NewcombFacebook, Twitter, and Alphabet Join Global Pledge to Combat Online Hate Speechby Helene Fouquet and Gregory ViscusiAfter Being Declared a National Security Risk, Grindr Must Find New Owners by 2020by Chris MorrisYou’ve Got a WhatsApp Notification: You May Have Been Hackedby Natalia DrozdiakHow a Cyber Crime Ring Stole $100 Million From Unsuspecting Companiesby Don Reisinger 4. ONE MORE THING“Yes, wenegotiate with terrorists.”A cottage industry has sprouted up whose vendors purport to help victims of ransomware recover their data. Turns out many of these companies—including New York-based Proven Data Recovery and Florida-based MonsterCloud—mostly just pay the the Bitcoin fee demanded by the hackers,reportsProPublica. Oh, and these firms, dubbed “ransomware payment mills”by one executive, charge a premium on top for their oh-so-helpful services. || Russian Ministry of Finance Considers Allowing Cryptocurrency Trading: A representative of theRussianMinistry of Finance (MinFin) says the ministry is considering allowingcryptocurrencytrading, Russian news service Interfaxreportedon June 21. Per the report, the Deputy Minister of FinanceAlexei Moiseyevtold journalists on Friday that, while MinFin had reached no final decision, cryptocurrency trading may be allowed in the coming bill on the circulation of cryptocurrencies in the Russian Federation. A bill prohibiting the use of crypto assets as a means of payment in the Russian Federation passed in May of last year. Anatoly Aksakov, head of the Duma Financial Market Committee, called the pending decision a compromise and pointed out that the Financial Action Task Force recommended that Russia adopt a bill regulating the circulation of cryptocurrencies by the end of this year. As Cointelegraphreportedearlier this week, the State Duma, Russia's parliament, expects to adopt the country’s major crypto bill “On Digital Financial Assets” (DFA) in the next two weeks. At the time, Moiseev declared that MinFin has also approved separate legislation for initial coin offerings, which will be a part of Russia’s law oncrowdfunding. Also this week, newsbrokethat the head of theBankof Russia said that while they are exploring the possibility of launching a central bank digital currency (CBDC), it is not planned for the near future. • Russia to Adopt Crypto Legislation Within Two Weeks: Deputy Finance Minister • Russia Will Not Legalize Facebook’s Cryptocurrency, Official Says • US CFTC Brings Action Against $147 Million Bitcoin Investment Scheme • Santander Loses Appeal Against Brazilian Crypto Exchange, Fine Upheld || Australia’s Central Bank: It’s ‘Difficult’ to Imagine Mass Adoption of Bitcoin: ByCCN Markets: After ten years, the Reserve Bank of Australia has decided that Bitcoin and other cryptocurrencies don’t pose a threat to Aussie dollars or other forms of fiat payment. The RBA concludes, after reviewing everything it knows about cryptocurrency, that it’s “difficult to envisage” an outbreak of Bitcoin users in the down under. It’s on cryptocurrency to be more attractive and useful than traditional payment methods. People will prefer the easier, more familiar world of debt-based currency until this is the case. To maintain the status quo, RBA says, rulers need only worry about keeping the fundamentals of the Australian dollar in place – “As long as the Australian dollar continues to provide a reliable, low-inflation store of value, and the payments industry continues to work on the efficiency, functionality, and resilience of the Australian payments system, it is difficult to envisage cryptocurrencies presenting a compelling proposition that would lead to their widespread use in Australia.” || Crypto Exchange Seed CX Adds Support for Three Stablecoins: Chicago-based crypto exchange Seed CX has announced support for stablecoins Paxos (PAX), USD Coin (USDC), and TrueUSD (TUSD) in a press release on May 14. The new stablecoin additions can be traded for U.S. dollars starting May 17, and the exchange is aiming to roll out trading pairs between the stablecoins and other fiat currencies such as the euro in the near future. Seed CX CEO Edward Woodford commented on the impetus to add stablecoin options: “Stablecoins are important in the ecosystem as they increase the velocity of movement of fiat equivalent assets 24/7 and had been requested by a number of our trading participants.” For margin trading, the press release states that these three stablecoins can be used as collateral with a minimum holding requirement of 10%, which allows investors to trade up to 1,000% of the value for their current stablecoin holdings. As recently reported by Cointelegraph, major crypto exchange Binance looks like it will be rolling out support for margin trading for nine trading pairs. While not yet confirmed, the public Application Programming Interface ( API) has been recently updated to include the variables “isSpotTradingAllowed” and is “isMarginTradingAllowed.” A Reddit user observed at the outset of May that second variable check is now true for nine pairs: BTC /USDT, BNB/BTC, BNB/USDT, ETH /BTC, ETH/USDT, TRX/BTC, TRX/USDT, XRP /BTC, XRP/USDT. Binance CEO CZ linked to the post in an official twitter post , saying “Crowd intelligence is amazing.” Related Articles: Polychain CEO Says Facebook’s Rumored Stablecoin Blockchain Should Be Public Reserve CEO Predicts Central Banks Will Tokenize, Still Room for Stablecoins HBUS Survey: Almost 12% of US Cryptocurrency Holders Are Long-Term Investors New Ernst & Young Report Reveals Assets and Debts of Now-Defunct QuadrigaCX || Brazilian Financial Authorities Announce Regulatory Sandbox For Blockchain: Four of Brazil’s major financial authorities have come together to regulate emerging technologies, including blockchain. The Ministry of Finance, the Central Bank of Brazil, the Securities Commission, and theSuperintendent of Private Insurancerecently announcedtheir intention to adapt new regulations to manage fintech and cryptocurrency advances. The regulations will affect Brazil’s securities, financial, and capital markets, according to the regulators. Stonewalled by FINRA, Up to 40 Crypto Securities Wait in Limbo for Launch The institutions will also create a regulatory sandbox in the hopes of understanding and allowing concessions for new fintech ideas. The increasing commercial activity surrounding new technologies is the main reason behind the regulatory sandbox initiative. “The use of innovative technologies as distributed ledger technology, blockchain, robo-advisors and artificial intelligence has allowed the rise of new business models, reflecting a bigger offer and reach,” the regulators said. In the case of blockchain, the Secretary of Treasurytalked about the utilityof DLT in Brazil’s financial markets. It also referred to cryptocurrencies and ICOs for financing. 3 Reasons Bitcoin Is Rallying Above $9K Brazil currently has the highest number of cryptocurrency holders in Latin America and occupies the fifth position globally. Experts estimate that8% of Brazil’s populationwill own some form of cryptoasset by 2019. The new regulatory initiative comes after the announcement of regulation on cryptocurrenciesearlier this yearby the Financial Supervision Counsel of Brazil. In this case, the regulation follow the same rules as in money laundering, with fines as high as $5 million for scofflaws. As regulatory efforts defining the limits of cryptocurrency and blockchain technology use in business, an increasing number of Brazilian merchants that work with cryptocurrencies still lack properclassificationin the financial market. The lack of recognition by financial entities sabotages the growth of the blockchain and cryptocurrency, keeping new businesses from properly participating in the fintech space. Representatives in the field pointed out that despite regulations, banks still can close or deny bank accounts to businesses that work with new, untested financial technologies. • Korean Crypto Exchanges Update Terms to Accept Liability for Hacks • Above $9.3K: Bitcoin’s Price Prints 13-Month High [Random Sample of Social Media Buzz (last 60 days)] FOMO Frenzy Triggers Bitcoin Price to ‘Blast Through’ $10,000 This Week, Predicts Analyst https://t.co/WW6fWJ8m7s #bitcoin #crypto #blockchain #btc #news https://t.co/8We8tIeT4d || Project Manager - Kitchell Corporation ( Santa Ana, United States ) - [ 📋 More Info https://t.co/oRc471sFti ] #Developer #jobs #Hiring #Careers #SantaAna #United States #Cryptocurrency #Blockchain #BTC https://t.co/mQjBYSm5h4 || @Crypt_Malone Dunno if you noticed, but seems like the same story goes for XRP, when it isn't stomped by btc it is stomped by whales anyway lol || @dergigi This thread: https://t.co/RkD1niKQjD || Me putting on my mom makeup and wig when she leaves the house #funny #TB #meme #Growingup #Gay #MemorialDay2019 #EuropeanElectionResults #bitcoin #HonorThem #mama https://t.co/CJjapiHF3f || Hurry! 7.99% direct arbitrage in #NAV. If you buy NAV in BTC market from #Poloniex and sell it on #Binance in BTC market, you can make a maximum profit of 0.05. || #BTC #ETH @Quark_Chain Thank you for sharing with us I believe that the project will be a great project. 2 || $BTC.X Bitcoin Lightning Network Sandwich https://t.co/A4LZJ4sQdm #stackingsats #blockchain #decentralized #crypto #dropgold #satoshi is #legion #bitcoin is #reckless || 🚨 Faites attention, j'ai repéré pas mal de scammers qui essayent de vous envoyer vers un exchange: denocrypt .com pour vous " envoyer des $btc ". J'ai pas creusé mais rester loin de tout ca 👍 https://t.co/Yfyt5HC4mv || RT JWilliamsFstmed: Monday Motivation 🔥 Buy Bitcoin Stack Sats. https://t.co/eNMrE6ONct
Trend: down || Prices: 11392.38, 10256.06, 10895.09, 9477.64, 9693.80, 10666.48, 10530.73, 10767.14, 10599.11, 10343.11
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)] Mt. Gox Is Taking a Step Towards Paying Out Creditors: The long-defunct bitcoin exchange Mt. Gox is finally moving toward settling creditors’ accounts in cryptocurrency or cash. The exchange’s rehabilitation trustee, Nobuaki Kobayashi,ÂannouncedTuesday that he had either approved or disapproved creditors’ claims and had also notified the Tokyo District Court about the step taken. In the next few days, the trustee said he will declare the results of his decisions on the claims and creditors will be notified by various means. Cryptopia Exchange Resumes Crypto Trading Amid Banking Issues For instance, those who filed claims through the Mt. Gox online filing system will be able to check the results by logging into the system. Those who filed their claims through the supplementary online or the offline methods will be notified via an email from the trustee. Creditors who did not file claims will still have their claims acknowledged by the trustee in line with the Civil Rehabilitation Act of Japan, according to the statement: “The Rehabilitation Trustee has approved Exchange-Related Rehabilitation Claims that have been acknowledged based on balances in the MTGOX Bitcoin exchange database, including those that Users have not duly filed.” Mt. Gox, once the world’s largest bitcoin exchange by trading volume, officiallyfiledfor liquidation in April 2014 after claiming to have been hacked for 850,000 bitcoin, some of which was later found in a “forgotten” wallet. At the same time, it dealt a blow to investors by dropping its plan for civil rehabilitation. Japan to Tighten Rules on Cryptocurrency Margin Trading After a long wait, creditors had a victory in June 2018, when the Tokyo District Courtissuedan order approving a petition to begin civil rehabilitation, allowing creditors to be repaid in their original crypto holdings rather then the fiat value at the time of the collapse. The petition was initially submitted in November of 2017. The deadline for filing civil rehabilitation claims has been extended several times, first toOct. 22, thenDec. 26and later toMarch 15. When approved creditors finally start receiving their payments, bitcoin’s price could be affected if there should be a sudden flood of coins on the market. The exchange’s trustee has previously been accused of causing of a decline in bitcoin prices since December 2017 by selling off $400 million in bitcoin and bitcoin cash belonging to the estate. “Following consultation with cryptocurrency experts, I sold BTC and BCC [BCH], not by an ordinary sale through the BTC/BCC exchange, but in a manner that would avoid affecting the market price, while ensuring the security of the transaction to the [greatest] extent possible,” Kobayashirespondedin a Q&A with creditors. Early last month, Goxdox, a site dedicated to supporting the creditors of Mt. Gox,publishedimages of bank transactions, showing that millions of dollars-worth of cryptocurrency from Mt. Gox may have been sold on the the open market through Japan’s BitPoint exchange in 2018, which, the site suggested, may have led to sharp volatility in bitcoin price during the period. Former Mt. Gox CEO Mark Karpeles wasfound guiltyof wrongfully making electronic records connected to Mt. Gox’s books, but innocent on charges of embezzlement and breach of trust, in the Tokyo District Court last week. he received a suspended sentence of two and a half years. Mt. Gox image via CoinDesk archives • Crypto Exchange Bithumb to Reduce Staff By Up to 50% • Riot Blockchain to Launch Regulated Crypto Exchange in the US || 10 Reasons Bitcoin Will Party Like 2017 for a Massive Bull Run in 2019: Many are wondering if we’re seeing the beginning of a 2019 Bitcoin bull run. After a bloody 2018 for the world’s first and most highly valued cryptocurrency, Bitcoin is starting off 2019 with some major traction on what appears to be quite solid ground. • Bitcoin’s price reached a 40-day high of USD$4,000Tuesday. • Bitcoin transaction volume reached a 9-month highas well. • The total market value of the cryptocoin industrysurged $15 billion in 48 hours. The beginning of another Bitcoin bull run is far from a certainty. But it might not be a coincidence that Bitcoin’s price has so muchuppower right about now. Here are 10 strong fundamentals underlying Bitcoin at the time of its current ascent: Read the full story onCCN.com. || Malware Crypto Ransoms Rose By Almost 90% in Q1: Report: The average cryptocurrency payout for ransomware attacks rose dramatically in the first quarter of 2019, according to a firm that helps victims pay ransoms. In its quarterly report , Coveware said that, while in Q4 last year the average ransom was $6,733, it shot up by 89 percent to $12,762 in the first three months of 2019. The rapid hike in crypto demanded comes thanks to the increasing prevalence of more expensive strains of ransomware – which encrypt victims’ files and demand a payment in cryptocurrency to unlock them – such as Ryuk, Bitpaymer, and Iencrypt, according to the firm. PayPal Wins Patent for Way to Defend Against Crypto Ransomware “These types of ransomware are predominantly used in bespoke targeted attacks on larger enterprise targets,” Coveware said. The Ryuk ransomware strain in particular has shot up in prevalence. In Q1, in first and second place, respectively, Dharma and Crysis held their leading positions on the market share table (below), while Ryuk is now in third place. That’s a notable climb, since it was not a top-three placer in the previous quarter. Ryuk is also targeting larger organizations than other variants, the report says. Not only that but it is demanding far higher ransoms. For example, Dharma requires an average ransom of $9,742, while Ryuk demands $286,556 on average. Bitcoin is still, and is likely to continue to be, the most popular cryptocurrency demanded by bad actors deploying ransomware, Coveware adds, although privacy coins like dash make up around 2 percent of demands. Crypto Exchange WEX Linked to Iranian Ransomware Operators, Says PwC Malware image via Shutterstock Related Stories Fake MetaMask App on Google Play Store Hosted Crypto Malware Crypto Mining Malware Has Netted Nearly 5% of All Monero, Says Research || NYSE-Backed Bitcoin Exchange Snags PayPal & Google Veteran: Bakkt remains in regulatory limbo, but the NYSE-backed bitcoin exchange made another key hire this week. | Source: Shutterstock The first quarter has come and gone, and there’s still no Bakkt. Nonetheless, the regulated exchange for bitcoin futures contracts, whose backers include NYSE-owned Intercontinental Exchange (ICE) and Microsoft, is boldly building out its team. Most recently, they’ve added PayPal and Google alum Mike Blandina as the chief product officer to round out the C-suite. Problem is, there’s no bitcoin futures product to speak of. Nonetheless, it’s another sign of legacy tech talent leaping into the emerging crypto space. In this case, Blandina is also making a leap of faith considering that the bitcoin futures exchange has yet to physically deliver its first contract. bakkt nyse bitcoin exchange Bakkt was originally supposed to launch in late 2018. More than a quarter later, there’s still no launch date in sight for the regulated bitcoin exchange. | Source: Twitter Mark Yusko: Bitcoin Is ‘From the Fringe’ Blandina is a payments veteran. He boasts experience at leading plays including Google Wallet , where he was engineering director of payments, and as PayPal ‘s vice president of engineering. He joins a growing executive team at the bitcoin futures exchange that extends to former Worldpay exec Balaji Devarasetty. Bakkt recently poached former Coinbase executive Adam White as its chief operating officer. Clearly, Blandina brings a lot to the table. But make no mistake — legacy tech needs crypto and the blockchain, not the other way around. The influx of tech talent into the crypto and blockchain space is a testament to the disruption that has taken place. A theme Morgan Creek Capital Management CEO Mark Yusko spotlighted bears repeating: “Bitcoin didn’t come from JPMorgan or PayPal. It is from the fringe.” Hate to quote myself, but I like line I wrote in 2014 in first paragraph to clients on #Bitcoin “One thing history has shown is that truly disruptive technologies always come from the “fringe”. Bitcoin didn’t come from JP Morgan or PayPal. It is from the fringe.” Fringe = #Edge — Mark W. Yusko (@MarkYusko) April 11, 2019 Read the full story on CCN.com . View comments || A Unique ETF to Play Brazilian Markets: This article was originally published on ETFTrends.com. When it comes to investing in Brazil, Latin America's largest economy, many U.S. investors opt for the iShares MSCI Brazil Capped ETF (NYSEArca: EWZ) , but the country has some compelling small-cap opportunities. That theme is accessible via exchange traded funds, including the VanEck Vectors Brazil Small-Cap ETF ( BRF ) . BRF seeks to replicate the price and yield performance of the MVIS® Brazil Small-Cap Index, which includes securities of Brazilian small-capitalization companies. A company is generally considered to be a Brazilian company if it is incorporated in Brazil or is incorporated outside of Brazil but has at least 50% of its revenues/related assets in Brazil. New Brazilian President Jair Bolsonaro has made privatizing state-owned companies and overhauling a costly pension system both key points in his administration as a way to cut down the soaring public debt and regain foreign investors’ confidence in the Latin American economy. Pensions: A Big Deal In Brazil Bolsonaro's ability to tackle pension reform in Brazil is seen as a potentially significant catalyst for riskier assets there. “Investors in Brazil and across the world are betting that newly minted President Jair Bolsonaro will push through key changes to the social security system in Latin America's largest economy. But the path toward reform will not be a smooth one as the Bolsonaro administration, which already has a delicate relationship with top lawmakers, faces a lengthy legislative process,” reports CNBC . Brazil's pension system is in dire need of reform because the country's average retirement age is far lower than in OECD countries. The average retirement age for Brazilian men is 56 years old and 53 years old for women compared to 65.5 years old in OECD countries. Related: Brazil ETFs Strengthen on Hopes of Pro-Market Reforms Brazil's government has previously put money into the pension system to shore it up, but given the fragile nature of the government's finances, increasing fiscal deficits could be viewed as unappealing by investors. Story continues “Bolsonaro's pension-overhaul proposal, which was submitted last month, aims to save the government more than 1 trillion reals — or about $270 billion — over a 10-year period,” according to CNBC. However, that proposal could take awhile to be voted on. Market observers do not expect Brazil's congress to consider pension reform legislation until August. For more information on the Brazilian markets, visit our Brazil 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 Using Merger Arbitrage as a Hedge Against Market Volatility A Better Way to Determine Risk Exposure for Growth ETF Investors Report Findings Highlight Fake Bitcoin Trading on Unregulated Exchanges How to Manage A Mature Bull Market With Macro-Themed ETF Strategies In the Know: Building a Low Cost, Defensive Portfolio READ MORE AT ETFTRENDS.COM > || ‘Crypto Stripe’ Flexa Raises $14 Million So You Can Buy Coffee With Bitcoin: Consider yourself $14.1 million closer to buying your morning coffee with bitcoin. New York-based payments startup Flexa just raised that amount in a private token sale involving Pantera Capital, 1kx, Nima Capital, Access Ventures and others. The startup’s token,Flexacoin, is an ethereum-based ERC-20 token that will eventually be used by developers and businesses to stake value on Flexa’s network for merchant payment processing. Facebook Said to Be Seeking $1 Billion in Funding for Crypto Project While Flexa co-founder Tyler Spalding declined to specify which merchants will accept bitcoin through this app,video testsshow users buying Starbucks with it. (A Starbucks spokesperson told CoinDesk it is not working with Flexa.) Spalding emphasized that Flexa is a business-to-business startup. Shoppers won’t need to hold or interact with Flexacoins at all. Flexa co-founder Trevor Filter said the details related to such governance and participation are still under development. “The long-term goal is to give over the network to the merchants,” Filter added. “A sort of consortium of their own that allows them to accept crypto.” Stepping back, Flexa is one of several companies to fundraise over the past six months through a private token sale without equity options. The predictions market startupNumeraiannounced a similar raise in March. Crypto Lender Dharma Officially Launches on Ethereum Blockchain Access Ventures partner TJ Abood told CoinDesk his firm would have been interested in an equity offering as well. But as he’s also satisfied with Flexacoin because it allows his firm to participate in growing the network. Businesses, from Access Ventures to merchants, can stake Flexacoin to the network and earn token rewards in a model comparable to proof-of-stake systems likeCosmosorTezos. Flexa plans to launch a custodial crypto wallet app for its network, with users being able to spend crypto at point-of-sale with a type of QR code scan, similar to Apple Pay. “We wanted the total Flexacoin supply to represent how much money can flow through the system right now,” Spalding told CoinDesk, adding that the network will launch onMay 13. “All the participants earn money.” Unlike Numerai’s token-fueled platform, Flexa’s network is not blockchain-based. Flexa’s approach to ethereum-compatibility, without complete reliance on that network, fit into Abood’s investment strategy. “We subscribe to the idea of being a user-owner. Any company that we invest in, we immediately look to be a user,” Abood said. “Making use of the developer tools and all the system tools that exist to be able to deliver a superior product, that’s what drives us.” On the other hand, 1kx cofounder Lasse Clausen told CoinDesk his firm also plans to become a staker because he believes for-profit tokenized networks are inherently better than traditional businesses. Speaking to Flexa’s symbiotic merchant acquisition strategy, Clausen added: “If Flexa were a traditional for-profit venture, how would merchants be able to trust them that they won’t end up raising fees once they have reached enough network effects?” Instead of building a blockchain-based network, Spalding described Flexa’s protocol as an “elegant pipe” that processes payments from various cryptocurrency networks, including bitcoin, ethereum, bitcoin cash and litecoin, to the merchant’s own payment processing system for direct bank transfers. “We wanted to build essentially the Stripe for these type of transactions,” Filter said. Abood said this merchant-oriented structure could entice mainstream brands that are crypto-curious by offering the ability to accept bitcoin without risk. According to Spalding, Flexa will partner with exchange platforms for liquidity on the back-end. Plus, the Flexacoin collateral could be used to compensate if there’s an issue with blockchain settlement. “Flexa plays a critical role in blockchain adoption at-large because it is bridging this digital payments landscape into a brick-and-mortar setting,” Abood said. “It’s opening up the idea of spending cryptocurrency to a much broader audience.” Filter described the Flexa protocol as bolting merchant’s traditional infrastructure to a crypto-friendly bridge, rather than relying on debit cards or credit cards. Since the process uses crypto wallets, there’s no personal information exposed the way a credit card payment would. “I don’t think that blockchains are good for many things,” Spalding added. “But, they are amazingly powerful for fraud-free payments.” In the future, Flexa plans to add support for various exchange-issued stablecoins and other crypto assets. Until then, the focus is on partnering with exchanges and merchants to make custom on-and-off ramps via the Flexa protocol. “A driving source in [mainstream] adoption will be the availability to accept cryptocurrency and that’s a merchant decision,” Abood concluded. Coffeeshopimage via Shutterstock • Coinbase, Paradigm Invest $15 Million in Startup Behind Disappearing Blockchain • New $50 Million Fund Makes First Investment in Blockchain ID Startup || Darling Ingredients Inc (DAR) Q4 2018 Earnings Conference Call Transcript: Image source: The Motley Fool. Darling Ingredients Inc(NYSE: DAR)Q4 2018 Earnings Conference CallFebruary 28, 2019,10:30 a.m. ET • Prepared Remarks • Questions and Answers • Call Participants Operator Good morning, everyone, and welcome to the Darling Ingredients Inc. conference call to discuss the company's fourth quarter and year end 2018 financial results. On the call today are Mr. Randall C. Stuewe, Chairman and Chief Executive Officer, Mr. Brad Phillips, Executive Vice President and Chief Financial Officer, Mr. John Bullock, Executive Vice President and Chief Strategy Officer, and Ms. Melissa Gaither, Vice President of Investor Relations and Global Communications. After the speakers' opening remark, there will be a question and answer period. An instruction to ask a question will be given at that time. Today's call is being recorded. I would now like to turn the call over to Melissa Gaither, Vice President of Investor Relations and Global Communications for Darling Ingredients. Ms. Gaither, please go ahead. Melissa Gaither--Vice President of Investor Relations and Global Communications Thank you, Nicole. Good morning, everyone, and thank you for joining us to discuss Darling Ingredient's earnings results for the fourth quarter and fiscal year ended December 29, 2018. To augment management's formal presentation, please refer to the presentation section of our IR website for the earnings slide presentation. Randy Stuewe, our Chairman and CEO, will begin today's call with an overview of our fourth quarter and fiscal year operational and financial results, focusing on year-over-year comparison, and will discuss some of the trends impacting our business. Brad Phillips, Executive Vice President and Chief Financial Officer will then provide additional details about our financial results. Finally, Randy will conclude the prepared portion of the call with some general remarks about the business and the year ahead, after which we'll be happy to answer your questions. More From The Motley Fool • 10 Best Stocks to Buy Today • 3 Stocks That Are Absurdly Cheap Right Now • 5 Warren Buffett Principles to Remember in a Volatile Stock Market • The $16,728 Social Security Bonus You Cannot Afford to Miss • The Must-Read Trump Quote on Social Security • 10 Reasons Why I'm Selling All of My Apple Stock Please see the full disclosure of our non-US GAAP measures in both our earnings release and earnings slide presentation. Now, for the safe harbor statement. This conference call will contain forward-looking statements regarding Darling Ingredient's business opportunities and anticipated results of operations. Please bear in mind that forward-looking information is subject to many risks and uncertainties, and actual results may differ materially from what is projected. Many of these risks and uncertainties are described in Darling's annual report on the Form 10-K for the year ended December 29, 2018, in our recent press release announced yesterday, and filings with the SEC. Forward-looking statements in this conference call are based on our current expectations and beliefs, and we do not take any duty to update any of the forward-looking statements made in this conference call or otherwise. Now with that, I'll turn the call over to Randy. Randall Stuewe--Chairman and Chief Executive Officer Thanks, Melissa. Good morning, everyone. Thanks for joining us. We carry solid momentum into 2019 as we position Darling as one of the most sustainable and green companies in the world. The fourth quarter truly showed the diversity and consistency of our global ingredients platform and the potential that Diamond Green Diesel has to supercharge Darling's future. During the year, we executed four bolt-on acquisitions and commissioned seven new and expanded plants that increased our capacity for premium sustainable ingredients. Looking to 2019 and beyond, we have eight additional facilities under construction, including four new plants, to meet the growing demand for Peptan, our specialty collagen product. You can view a list of these projects and their expected completion and timing on earnings on the earnings call slide number three. Now, for 2018, we grew our raw material volumes by 3.3% year-over-year, including growth of 1.5% during the fourth quarter. We delivered annual-adjusted EBITDA $431.4 million without the benefit of the blender's tax credit. And Diamond Green Diesel generated $65 million in partner dividends this year. Year over year, our earnings were flat, but keep in mind we sold our environmental services business early in the year; we wrote our plasma inventory in China down; FX for both the EUR and CAD were weaker, and we faced a stagnant protein market and a significantly lower fat market during the year. Overall, the team executed well. And the diversity and consistency of our platform is quite evident. Additionally, we continue to be optimistic the blender's tax credit will be reinstated during 2019. It should be noted that 2018 earnings would have been approximately $90 million higher had the BTC been in during the year. This is a combination of both Diamond Green Diesel and our fuel segment. Now, let's pivot our review to the fourth quarter segment performance. Our teams managed well through challenging pricing markets, trade disruptions, and a slow recovery from our extended downtime at Diamond Green Diesel during the third quarter. The feed segment benefited from robust raw material supplies globally but battled stagnant and deflationary finished pricing for fats and proteins, as compared to 2017. Clearly, our extended shut down at Diamond Green Diesel and ample palm oil supplies weighed on the fat markets, proteins continue to feel the trade disruptions related to China and the record slaughter volumes. Global pricing is improving across the fats and protein markets, and we feel quite confident that our future results will portray this fact. Our specialty ingredients business embedded in the feed segment continues to perform well, reporting strong margins and record volumes. Our acquisition of Triple T Wet Pet, a specialty pet food operation in Springdale, Arkansas, added to our footprint and our market share in this growing market. Also, we are excited about the progress of EnviroFlight, our joint Venture with Intrexon. This is the largest black soldier fly protein facility in the US. And phase one production commenced in the fourth quarter. And during the quarter, we also acquired a new organic fertilizer production facility in Turlock, California, which will enable us to grow our production of Nature Safe organic fertilizer. Now, our food segment, anchored by our global collagen business, rebounded nicely and posted a solid quarter. Both Rousselot South America and China reported a strong year, and 2019 looks to be off to a very good start. Peptan, our specialty collagen product, is rising to meet global demand and achieved record production levels, with further expansion within our operations in Brazil and France expected to come online during the first half of this year. Our fuel segment, which is a combination of our green energy businesses, delivered consistent earnings on strong volumes across Europe. Ecoson, our European bioenergy business, capitalized on higher volumes from phase one expansion of the digester in Denderleeuw, Belgium, and the return of our Netherlands facility to full capacity, after being curtailed for most of 2017. Rendac, our European disposal rendering business, also had a solid quarter generating strong volumes and earnings growth in the Netherlands and Belgium. Despite the absence of the blender's tax credit, our biodiesel businesses remain steady compared to last year, and they were benefiting from the lower fat prices. In the fourth quarter, Diamond Green Diesel displayed its true potential. The facility resumed production and quickly ramped up to its boilerplate capacity of 275 million gallons per year. For the quarter, we produced 73 million gallons of renewable diesel, delivering a record 110 million of EBITDA on 66 million gallons of sales. Operating margins were a $1.67 a gallon for the quarter and averaged a $1.19 for the full year. For 2019, we anticipate operate at or above nameplate capacity, and we expect full-year margins to be in the $1.25 to $1.40 per gallon range. Diamond Green Diesel continues to capitalize on the premium LCFS markets, and the JV generated partner dividends of $40 million each in the quarter. Construction on our phase three Super Diamond expansion is already under way. And when complete, it will produce an additional 400 million gallons of renewable diesel and 50 to 60 gallons of renewable naphtha. The estimated cost of the facility is around 1.1 billion. And we anticipate start-up in the latter half of 2021. On Monday, I visited the facility, and one slide 10 of our earnings call presentation, you will see the progress as we prepare the sight. Permits are pending, and we are anxiously awaiting the start of construction. Now, with respect to the BTC, we remain optimistic Congress will provide a legislative vehicle to renew and extend the BTC during 2019. As you may or may not know, the BTC is part of 28 extenders that Congress has not renewed. From all of our visits to the Hill, we can report that bipartisan discussions are under way to move this issue forward. Now, before I turn the call over to Brad, I'd like to revisit a point on the Valero Fourth Quarter Earnings Conference Call. During that call, the Credit Suisse analyst asked the value of Darling Ingredients and Valero maintaining the Diamond Green Diesel partnership. Martin Parrish, Valero's Senior Vice President of Alternative Fuels, did a great job in answering that question when he explained how integral Darling is to the partnership. I'd like to paraphrase his answer because I think it's valuable for our shareholders and analysts to keep top of mind. Martin states, "Darling is one of the largest processors of animals fats and used cooking oil in the world. In fact, Darling processes over 10% of the world's meat industry by-products annually. In doing so, we have created a raw materials supply chain to support Diamond Green Diesel that will be very hard and very expensive to recreate. And it would be complicated to maintain a stand-alone supply network without the balance of our food and feed businesses working in concert with the supply chain. Darling has unique expertise in pretreating the fats and oil feedstocks to optimize the refining process, which Valero has immense expertise in. Valero brings their unrivaled skill in engineering and operating a state of the art renewable diesel refinery as well as marketing operations that ensure the partnership maximizes its unique position to the LCFS markets around the world." Martin and I both agree that Diamond Green Diesel is truly more valuable with both companies involved, due to our combined innovation and expertise. So with that, I'd like to turn it over to Brad to give you a few financial highlights. Brad Phillips--Executive Vice President and Chief Financial Officer Okay. Thanks, Randy. For the fourth quarter 2018, we reported consolidated net sales of $853.1 million compared $952.5 million for the comparable 2017 period. For fiscal 2018, net sales were $3.4 billion compared to $3.7 billion for fiscal 2017. These declines were primarily a factor of lower finished fat product pricing, the closing of the company's Hurlingham, Argentina, facility, the deconsolidation of the company's BestHides subsidiary during 2018, reclassed billed freight recorded in cost of sales in 2018, as compared to net sales in 2017, and the divestiture of our industrial residuals business earlier this year. We posted net income in Q4 of $40.6 million, or $0.24 per diluted share, compared to net income of $105.7 million, or $0.63 per diluted share for the 2017 fourth quarter. Fiscal 2018 net income was $101.5 million, or $0.60 per diluted share, compared to $128.5 million, or $0.77 per diluted share, for fiscal 2017. The declines of net income were primarily driven by an income tax expense of $8 million and $12 million in the fourth quarter of '18 and fiscal '18, respectively, compared to income tax benefits of $85 million and $69.2 million in the 2017 fourth quarter and fiscal 2017, respectively, due to the remeasurement of deferred tax liabilities per the US tax cuts and Jobs Act and benefits from European tax reform. Additionally, in fiscal 2018, we had debt extinguishment costs, Argentina restructuring costs, and a loss on the sale of the industrial residual sector. Substantially offsetting these declines, as reflected in our substantial increase in income before income taxes for both the fourth quarter and fiscal 2018, was a significant increase in out equity and net income of our unconsolidated subsidiary, Diamond Green Diesel, which was partially due to recording the 2017 blender's tax credit in 2018. SG&A was $76.4 million and $309.3 million for the 2018 fourth quarter and fiscal year, respectively, compared to $89.9 million and $343.5 million for the 2017 fourth quarter and fiscal year, respectively. The decrease was primarily due to lower wages and benefits, which were partially due to the closure of the Argentina collagen facility and the sale of the industrial residual sector, both in the second quarter of 2018. Interest Expense declined $2.5 million year-over-year, primarily due to a lower interest rate on the company's €515 million senior notes resulting from the May 2018 refinancing of the notes from 5.75% to 3.625%. I want to briefly mention taxes. The company reported income tax expense of $12 million for fiscal year 2018. The effective tax rate is 10.2%, which differs from the statutory rate of 21%, due primarily to the retroactive reinstatement of the biofuel tax incentive for 2017, recorded in 2018. Tax law changes in the Netherlands and changes in valuation allowances primarily related to losses that provided no tax benefit. The biofuel tax incentive expired as of the end of fiscal '17. Excluding the impact of the 2017 biofuel tax incentive and tax law changes, the effective tax rate for fiscal 2018 is 34.4%. Cash tax payments were $33.2 million in 2018, compared to $26.3 million in 2017. We are projecting the fiscal year 2019 effective tax rate to be 35% excluding the biofuel tax incentive. If the tax incentive is reenacted retroactively for fiscal year 2018, the effective tax rate is projected to be 20%. Finally, we are projecting cash taxes of approximately $40 million for fiscal 2019. Now, as for the balance sheet, working capital improved by $10.5 million in 2018 compared to 2017. And capital expenditures for 2018 totaled $322 million, compared to $274.2 million in 2017. We received $65 million in cash dividends from Diamond Green Diesel during 2018. And our total debt-to-EBITDA ratio per the bank covenants improved to 3.13 from 3.47 at the end of '17. Our liquidity remains strong with approximately $929.8 million available under our revolving credit facility. With that, I'll turn it back over to you, Randy. Randall Stuewe--Chairman and Chief Executive Officer Hey, thanks, Brad. Overall, we are pleased with the achievements for the quarter and the year. We took several strategic actions to mitigate global macro challenges and continued to focus on opportunities to optimize our platform, strengthen our financial position, and leverage and grow our scale to capture opportunities and deliver on our world of growth strategy. Our strong free cash flow allowed us to deploy $322 million of maintenance and growth capital, with an additional $108 million of strategic acquisitions to build upon our sustainable portfolio of value-added and specialty ingredients. In 2019, we expect to invest approximately $300 million in maintenance and growth capital for several strategic projects noted in our slide deck, while maintaining capital discipline across the company. Additionally, we continue to take pride in our on-going corporate social responsibility disclosure, making significant achievements that demonstrate our commitment to drive meaningful progress toward a cleaner, safer, and sustainable environment. Towards this end, we are showing specific updates on our website, such as our latest video animation highlighting our biofuel stories at Diamond Green Diesel. If you haven't already watched the video, I encourage you to do so. Also, we continue to strengthen our corporate governance with the recent appointment of Nicole Ringenberg as a director. Nicole's appointment aligns well without governance strategy. And after a 32-year career with Monsanto, she brings unique and strategic insights related to sustainable, agricultural solutions, global operations, and with a strong emphasis on Asia, corporate finance, and advancing diversity across our workforce. We look forward to providing more updates on our on-going environment, social, and governance effort across the company. With that in summary, we're excited about the strength of our business, our future market position, and our near-term and long-term growth opportunities. So with that, let's go ahead and open it up to questions, please. Operator Thank you. We will now begin the question and answer session. To ask a question you may press * then 1 on your touchtone phone. If you're using a speakerphone, please pick up your handset before pressing the keys. To withdraw your questions, please press * then 2. Our first question comes from Heather Jones of Vertical Group. Please go ahead. Heather Jones--Vertical Group--Analyst Good morning, everyone. Randall Stuewe--Chairman and Chief Executive Officer Good morning, Heather. Brad Phillips--Executive Vice President and Chief Financial Officer Morning. Heather Jones--Vertical Group--Analyst I have just a couple of questions. Randy, you mentioned that global fat pricing has started to improve. And I just was wondering if you could take us through how you view the cadence of the year because, as you know, there's a number of mandate increases around the world. But palm oil production remains strong and all. So, how are you thinking about what that price curve looks throughout the year? Randall Stuewe--Chairman and Chief Executive Officer We've had a lot of discussion around the table on that. Coming out of December into January, it felt pretty weak throughout the world. We saw some pretty big softening happen in Europe, which is usually pretty steady. But now, here in January and into February, we've seen Europe start to bounce back. The US was a main driver here. We just kinda had a hangover from that extended downtime at Diamond Green Diesel. And then, the slaughter here has been around record levels, and we expect it to remain record levels. And with cheaper feed grains and inputs, you tend to put more weight on the animals. So, at the end of the day, there's ample supplies here, but we're starting to see them move up. For the first time, we're seeing some strength on the west coast in our fats now. We're also starting to see Europe come back. Europe will be much stronger, I believe, in second quarter than first. So, I think it's a pretty strong bell curve here. If you follow the palm oil kinda reports and predictions, they're at the peak of their production, and then it starts to scale down as you go forward here. And at the end of the day, I think you're gonna produce less fat in China this year than you have in the past. And so, I think the S&D and the global balance sheet would continue to tighten as we go forward, and we'll just see what happens. So, right now, we're pretty bullish the back end of the year here. Heather Jones--Vertical Group--Analyst Okay. Thank you. Been thinking about the blender's tax credit. So, you expressed confidence that it gets reinstated. Let's consider a scenario where it doesn't. And given the higher advance mandate and the BOHO spread is not nearly as favorable as it was last year. Where do you think rend need to go to stimulate the kind of production we would need for those mandates? John Bullock--Executive Vice President and Chief Strategy Officer Yeah, Heather, this is John. Overall, if we don't see the blender's tax credit come back, then you would anticipate that we would see higher-end prices develop as we go through the course of the year. How quickly that'll happen, who knows. But it certainly looks like it needs to move to a higher level to be able to set the type of production that there is demand for out there now. Heather Jones--Vertical Group--Analyst Okay. Thank you so much. Operator Our next question comes from Ken Zaslow of Bank of Montreal. Please go ahead. Kenneth Zaslow--Bank of Montreal -- Analyst Hey, good morning, everyone. Randall Stuewe--Chairman and Chief Executive Officer Good morning, Ken. Brad Phillips--Executive Vice President and Chief Financial Officer Morning. Kenneth Zaslow--Bank of Montreal -- Analyst With the accent -- or for the time being, the BTC, how should we think about the near-term profitability of the feed segment, yellow grease prices, used cooking oil? How do you think about that? Randall Stuewe--Chairman and Chief Executive Officer I'm gonna talk sequentially, Ken. We saw a small -- our tonnage between Q3 and Q4 was bigger in Q4. And pricing on the fats was even lower. Proteins were pretty stagnant, if you will, out there. The west coast proteins continue to be pretty weak. And European proteins backed off quite a bit during the quarter. We're starting to see that all turn around, and I don't know that I would tie any of that to the BTC. We're seeing the animal fats move up a little bit, here in the US. And clearly, there's a spread used cooking oil's a pretty substantial premium to yellow grease or animal fats in the US. I think the world's ramping up again on biofuels around there, and I think we'll see some pretty good strength coming on here as we go forward. So, my anticipation is that the feed segment will start to show some improvement here in Q1, and more in Q2, and gonna get much stronger in Q3, Q4 for us. Kenneth Zaslow--Bank of Montreal -- Analyst And can you just go through your capex projects and the returns that you expect to have in 2019 and 2020? How do we think about the incremental -- because it sounds like you have a lot of projects going on. And just what's the incremental profitability that we should associate? Randall Stuewe--Chairman and Chief Executive Officer Right. In our K we released around I wanna say -- the maintenance and capex, environmental sustaining capex in the company now, with the size that we are is around 200. And there's about $100 million of growth or efficiency type of capex going in there. As always, we won't breakdown by project for competitive reasons, but we will tell you that all those projects return in the 15% to 20% return. From our perspective, we expect to see anywhere from $15 million layered on, incremental EBITDA coming forward. Kenneth Zaslow--Bank of Montreal -- Analyst And you're a CEO who tends to really focus on returns, and it's also about shareholder value. My question -- and this is kind of out the sky. Would you ever think about separating the companies, given the different divergence of profitability, DDG on a different path, maybe, than the other? And is there a value somewhere in that? And I know that's a random question, but just a thought. Randall Stuewe--Chairman and Chief Executive Officer No, it's always a very, very fair question. Clearly, obviously, in my comments, we wanna make sure people understand the value of the supply chain. And that's really integral to the heart of this. And as we've gone forward -- when the plant started at 137 million gallons, we all had our expectation of how much of our internally produced fat went in there. It ended up being a little bit less than we thought. But now at 275, it's ending up being a little more as we value add what I'm gonna call the lower value animal fat that we produce in our system that work well down there. And given the CI scores -- remember each facility that we have has a CI score that supports Diamond Green Diesel. So, it's critical to control not only the supply chain, the origination, the logistics, and the CI side. That's what makes Diamond Green's performance so valuable. Now, all that said, obviously, in the original documents with Valero that are out there, there is notes that said that, really, we've got a marriage here for a lot of years. And so, any type of discussion of breaking it off is probably premature for me to ever talk about. But at the same time, I'm always open-minded to ways of creating shareholder value. And trust me, I believe that the value of Diamond Green is starting to show and that our share price will start to recognize the value of it, Ken. Kenneth Zaslow--Bank of Montreal -- Analyst I appreciate it. Thanks. Operator Our next question comes from Adam Samuelson of Goldman Sachs. Please go ahead. Scott Bernstein--Goldman Sachs -- Analyst Yeah. Hi, this is Scott Bernstein on for Adam Samuelson. I just had a question on what you're seeing on the impact from ASF in China on the different businesses. If you fought any in the second half of 2018? And any expectations for 2019? Randall Stuewe--Chairman and Chief Executive Officer This is Randy again. I'll give you a two-second view on ASF in China. Really, we continue to monitor it very closely. There are very, very diverse opinions on what the impact is in China today. I think it's safe to say we have seen the -- there's ample frozen supplies of pork meat as they increase their slaughter in the near term in China. And at the same time, we got a shrinking hog herd over there right now, as we know in our plasma, our blood processing plants. There's just less animals and less blood available right now. There's a strong move toward alternative meats right now. The borders continue to be somewhat challenging for moving hogs around and also for bringing in, what I'd say, non-Chinese meat into the country. So, as I started the comment saying, we don't know what we don't in China today. My gut says it's a bigger issue that's gonna take a longer time to work through than most people understand today. But, yet, the pricing of pork in China doesn't support that theory today. There is a thesis out there that says, as we know, operating a food business in China -- if you damage consumer confidence in your product, it is a long-term rebuilding of that demand. And so, there is some move away from pork, even though it was the preferred meat for many, many years, and the largest pork consumer in the world. So, at the end of the day, it feels like they continue to try to tell us -- when I say "they" being the Chinese government -- it's under control. But every day you see three more cases. We've heard numbers that range from the heard down 100 thousand head to 100 million head. And all I can tell you is is for the plasma side of the business, the supply, it's probably 15% to 20% lower right now than it was a year ago. So, time will tell. I think more concerning is the spread of the disease, as it is over in Vietnam now. It's a very difficult disease to maintain. Europe has dealt with it for many, many years and has biosecurity measures to manage it quite effectively. But at the end of the day, China has a very, very challenging problem ahead in their meat sector. Scott Bernstein--Goldman Sachs -- Analyst Got it. Thank you. Very helpful. And my only other question would be on the food segment. I know you guys talked about collagen casings and edible fats on the slides, and I just wanted to hear if you guys have some more comments on Rousselot. And if you could talk about the -- generally for the food business in 2019? Randall Stuewe--Chairman and Chief Executive Officer Yeah, I think I'll give you three comments. Rousselot, you see -- Rousselot clearly makes up the largest part of that segment today. The gelatin and collagen industry -- or collagen's referred to it -- seems to add a lot of head capacity in big chunks. And over the course of 2015, '16, it added quite a bit of capacity along the way, and it just had to grow into it and work through that capacity. So, we've seen margins improve around the world. We've had supply disruptions around the world with the amount of pigskin available, hide available, beef bone -- the margins seem to have normalized in that business. And then, we've also continued to grow one of our specialty product lines. And that's our factory that's coming on in Amparo, Brazil, today; and Angouleme, France, later this year; and then Ghent, Belgium, the following year; and then a second plant in Brazil later on next year too. So, at the end of the day, we feel pretty bullish about where our food segment's going. If you look at it on a performance basis, it would be down just a little bit year over year. Part of that's FX related if you normalize that. But the casings business has softened quite a bit out there. That's the natural casings business. And that's related to a lot of the Chinese discussion we already had, the number of hogs being processed into the marketplace. And then, also, we have an edible fats business. And fat prices are down about 20%. While that's a spread business, you do take a little bit of EBITDA hit there as those prices go down. So, overall Rousselot's carrying its weight. It feels pretty darn good going into '19 right now. And I think we're very proud that the food segment will have an improved performance in 2019. Scott Bernstein--Goldman Sachs -- Analyst Great. Thanks so much. Operator Our next question comes from Tom Palmer of JPMorgan. Please go ahead. Thomas Palmer--JPMorgan--Analyst Good morning. Thanks for the question. Randall Stuewe--Chairman and Chief Executive Officer Hey, Tom. Thomas Palmer--JPMorgan--Analyst You said at an industry conference that spot EBITDA margins for renewable diesel were running around $1.40 a gallon -- stronger for the fourth quarter. And I appreciate that diesel had declined a good amount over the course of the quarter but also wondered if there were any unique expense-related items that contributed to EBITDA this quarter? So, any hedging gains to call out? Was there an abnormally high mix of yellow grease because of the unexpected downtime in the prior quarter? Around that -- and then get a sense of what it's running at today. Randall Stuewe--Chairman and Chief Executive Officer Yeah. No, no. Great questions, really are. And, obviously, we wanted to articulate that, so I appreciate the question. Obviously, we have a pretty long supply chain to support the facility at 275 gallons. And you do put on a lot of heating oil futures in that sense to hedge the supply chain. And as we know today, we don't get hedge accounting at that facility today. So, you get a mark-to-market. So, as we talked in the third quarter, we had hedging losses. Then, we have a return and had some hedging gains in Q4. And that'll ebb and flow up and down. As far as one supply versus another supply, not really. Pretty constant. Obviously, we try to originate to the right CI mass balance that we can do down there to meet our customers' needs. The plant has been running just excellent at capacity and above capacity. And I guess the way -- we don't want to break it down any more than to say we anticipate margins for the full year of 2019 to be between $1.25 and $1.40. And you kinda nailed it down. So, there is some gains there in Q4 for sure, from the hedging side. And, occasionally you give those back, but we'll reiterate our outlook for the full year. Thomas Palmer--JPMorgan--Analyst Okay. Thanks for the color there. Also, wanted to follow up on your expectations on the longer-term outlook. We have seen a few announcements regarding either construction or expansion of other renewable diesel facilities. Has your enthusiasm for the longer-term profit potential changed at all? And when you were considering the expansion for Diamond Green Diesel, had you assumed that there would be increased competition coming? Randall Stuewe--Chairman and Chief Executive Officer Yeah, I think -- I'm gonna kinda refer everybody back to our investor day that we had last summer where we tried to lay out kind of the global, low-carbon fuel demand around the world that we see happening over the next three to five years. I think we continue to believe that we understand that and that that's real. Once again, we continue to -- you can monitor the carb website and see what kinda demand comes out of there. At the end of the day, I think it's as good a decision today as it was then, if not better today. We continue to feel very, very optimistic about its role in fulfilling low carbon fuel demand both here and abroad. And the performance of Diamond Green, as we've said, coming into last year, we thought we would average about a $1.25 a gallon without the blender's tax credit. We ended up at $1.19, not a bad thing for an extended 45 days down in higher costs. And we're giving you the same view today without the blender's tax credit. As for the competition out there, as John Bullock reminds me, it's pretty easy to put out an announcement on paper. It takes a lot of money, and time, and effort to build a plant. And we've got what I consider to be a first-mover's advantage. It's pretty significant out there right now. Now, all said, I believe someone -- that if the margins are attractive, and honey will attract flies here, and eventually, someone will commit the capital and the resources to do it. But of the four or five projects have been announce out there, I'm not sure we know that any of those are what we would call real at this time. They may be, but not at least from our eyesight. Thomas Palmer--JPMorgan--Analyst All right. Thank you. Operator Our next question comes from Craig Irwin of ROTH Capital Partners. Please go ahead. Craig Irwin--ROTH Capital Partners--Analyst Hi. Good morning and thanks for taking my question. So, Randy, this quarter your production at Diamond Green showed a really nice jump as expected, right, p more than 50% above peak production, looking backwards. Historically, you've talked about the importance of a thesis of buying more of your fats and the experience that you believe that there's a few pennies in fats prices that you've seen as a benefit, sort of the uplift of consuming your own product, $0.03 to $0.05. With this 50%-plus jump in production for Diamond Green in the quarter, do you expect that uplift to maybe increase? Is there anything that you would point to us as external observers of the market that would maybe help us have a way to quantify this increase? John Bullock--Executive Vice President and Chief Strategy Officer This is John. I think the way to look at that is, obviously, the increased demand that comes from Diamond Green Diesel is going to ultimately have an impact on the price of the low-CI fats. And it'll have more of an impact as we get bigger, and bigger, and bigger in that segment. It's hard for me to tell you that that's gonna happen in any 30 or 60-period of time. But the trend is pretty obvious here. And I think to answer your question, the answer is pretty obvious. Of course it is. And when it does, it will impact in a positive way our core businesses. Randall Stuewe--Chairman and Chief Executive Officer Yeah. And, Craig, this is Randy. And I'll just augment what John says. At the end of the day, we've only been running Diamond Green at the new rate now for 100, 120 days. And we basically had fat parked everywhere in the country because the extended downtime. So, at the end of the day, we're starting to see from a low-CI perspective there's a $0.03 to $0.04 a pound differential between the different feedstocks that we can support down there right now or that we process. So, it is going to have an impact on our core business, and that's when we get really excited about Super Diamond. And not only do we believe the margins can be sustained because of the global S&D in demand -- also, when you think about the waste cooking oil, the animal fat, and the distiller's corn oil business today from the ethanol administered, we've always said that number's around 13, 14 billion pounds annually in this country. And Diamond Green gonna take between 6 and 7 billion of that. So, it's kinda -- as John said in a sense -- it's kinda obvious we're gonna have a pretty good impact as we start to roll forward to the bigger plant here a few years out. Craig Irwin--ROTH Capital Partners--Analyst Great. Thank you for that. My second question's for Brad. So, working capital in 2018 was the sixth year where this is a positive contribution for cash flow. How do you see the potential for continuing to squeeze the balance sheet for cash in '19? Is there anything you would call? And then, should we see a similar cadence to working capital to last year where you may be consumed a little bit in the first quarter and then got it back, plus some, by the end of the year? Brad Phillips--Executive Vice President and Chief Financial Officer Craig, yeah, you kinda nailed it there. We're gonna be targeting and working toward similar to what we achieved this past year. You're right. We've got a good five-year tail here of improvement there. And there was a lot to improve on. And there are still some areas. But we'll still see a bit. And you're right. I think you can expect it's probably a little bit more back half of the year where those stronger improvements come in. Randall Stuewe--Chairman and Chief Executive Officer Right. And, Craig, this is Randy. I'll build on that with Brad because I think, while this year we showed a little bit of improvement, at the end of the day our volumes keep growing around the world. So, our capacity is growing pretty rapidly. Our opportunities still exist in our food segment to take some pretty significant working capital out of there. And that comes to identifying the customer demands and the products we should be making there. And I'll tell you what, I think we're getting better each year in that area. We've been able to bring our inventories down pretty significantly in the Rousselot area, and we'll continue to do more and more of that as we go forward. So, I'm even a little more optimistic than Brad is coming into '19 here. But it's also being offset by the higher volumes that we're processing around the world. Brad Phillips--Executive Vice President and Chief Financial Officer Great. Thank you for that and congratulations on the strong performance. Operator Our next question comes from Andrew Goffe of Overbrook Management Corporation. Please go ahead. Andrew Goffe--Overbrook Management--Analyst Hi, guys. I was wondering how you're thinking about how the company will capitalize on the growing demand for renewable diesel in Europe, and kind of how you see how much demand could be coming from Europe within the next couple of years? Randall Stuewe--Chairman and Chief Executive Officer Yeah, and I'll take a shot then John can help me out here a little bit on this. Obviously, we've got a very, very strong -- and we've articulated our view and strategy on the USA, and with our double downer, 675, 700 million gallon facility in the US. And you think about it, our USA production within the Darling system's about a million tons of fat. We have about half of that in Europe today. And so, at the end of the day, we're trying to figure out the correct way to value add that. And that could take a whole bunch of various forms, from building a facility in Europe, to shipping fat to the US to make diesel out of it, to just only value adding a portion of our fat stream over there. And at the end of the day, we see that about half of the world's demand for low carbon fuels will be on the North American continent. And probably about another half will around the world. And so, ultimately, as we Diamond Green Diesel to have the kind of the most efficient supply chain and logistical sight in the world, we're kinda doing that same evaluation as we look forward. And we'll be monitoring those markets to make sure that everybody has kinda the same commitment to reduction of greenhouse gases that seem to be articulated today. John, you got anything you wanna add to that? John Bullock--Executive Vice President and Chief Strategy Officer No. I think you said it perfectly. Andrew Goffe--Overbrook Management--Analyst Thanks. Operator Our next question comes from Bill Baldwin of Baldwin Anthony Securities. Please go ahead. Bill Baldwin--Baldwin Anthony Securities--Analyst Good morning. Randall Stuewe--Chairman and Chief Executive Officer Morning, Bill. Brad Phillips--Executive Vice President and Chief Financial Officer Hey, Bill. Bill Baldwin--Baldwin Anthony Securities--Analyst Just a housekeeping item here. I was gonna ask is there anything in the revenue side of Diamond Green Diesel on the rend hat was unusual or affected the revenues in the fourth quarter? Or was rend accounting pretty straight forward? John Bullock--Executive Vice President and Chief Strategy Officer This is John. No, there was nothing unusual. Bill Baldwin--Baldwin Anthony Securities--Analyst Nothing unusual. No -- OK. I didn't know you banked any or... Randall Stuewe--Chairman and Chief Executive Officer No. There was no stockpiling of rend. John Bullock--Executive Vice President and Chief Strategy Officer No. Bill Baldwin--Baldwin Anthony Securities--Analyst No stockpiling of rend. No, OK. Thank you very much. John Bullock--Executive Vice President and Chief Strategy Officer Thanks. Operator Our next question is a follow-up from Heather Jones of Vertical Group. Please go ahead. Heather Jones--Vertical Group -- Analyst Yes. Thanks for taking this follow-up. First, I just wanted to go back to Europe. So, I know that a number of the countries there won't bring in renewable diesel from the US, but you have a situation there where their double counting rules -- that's accelerating. Demand is accelerating, and yet, there's an issue of finding suitable feedstocks given the move away from palm, etc. So, wondering if either A.) Do you think there will be a big increase in imports of fats from the US into Europe to feed these big plants that are coming online? Or will we see maybe a loosing of their standards, the regulations, as far as importing renewable diesel from the US? John Bullock--Executive Vice President and Chief Strategy Officer Heather, this is John. They can import biofuel into the EU. There's just a tariff associated with it that increases the cost of that. Your question on -- generally, I think what we see in this, there are several markets around the world where there're very good green premiums that are being paid for renewable fuel. And one way or another the renewable diesel is gonna find its way to the markets. What we're focused on is trying to make sure to develop the most efficient supply chains to service those markets, and in the process, utilize the fat that we produce out of our core business to maximize its value. And we continue to look at that constantly. Obviously, there are parts of Europe that are gonna be extremely attractive markets for renewable diesel. I think the general movement in Europe is away from palm oil. That doesn't mean that they will totally eliminate the use of palm oil. But that speaks very favorably for the low-CI feedstocks that we produce, the used cooking oils and the animal fats. And it's just a question of matching up the supply to the places that pay the really good green premiums. Heather Jones--Vertical Group -- Analyst Okay. Thank you. My final question is could you speak to what do you see as the implications if there's a favorable resolution of US-China trade dispute? If we get a deal, what are the implications for Darlings business? Randall Stuewe--Chairman and Chief Executive Officer What we see when I refer to trade disruptions in the feed segment, it's more industry related right now. We were shipping a lot of poultry meals out of the processors in the US to China, and to a degree, those had backed up the potential tariffs that were on there. So, at the end of the day, I think it helps strengthen our poultry processing side of our business. I think China obviously has an animal herd their gonna have to rebuild. And that'll take some time. And so, at the end of the day, to me, I think it should strengthen the overall green and soybean complex going forward here. And at the end of the day, that kind of spills over in various ways and helps us out. Heather Jones--Vertical Group -- Analyst Okay. Perfect. Thank you so much. Operator This concludes our question and answer session. I would like to turn the conference back over to Randall Stuewe for any closing remarks. Randall Stuewe--Chairman and Chief Executive Officer Thank you. So, just want to say thanks to everybody. Great questions today, and we look forward to talking to you again in May and updating you on our progress. Operator The conference has now concluded. Thank you for attending today's presentation. You may now disconnect. Duration: 56 minutes Melissa Gaither--Vice President of Investor Relations and Global Communications Randall Stuewe--Chairman and Chief Executive Officer Brad Phillips--Executive Vice President and Chief Financial Officer Heather Jones--Vertical Group -- Analyst John Bullock--Executive Vice President and Chief Strategy Officer Kenneth Zaslow--Bank of Montreal -- Analyst Scott Bernstein--Goldman Sachs -- Analyst Thomas Palmer--JPMorgan -- Analyst Craig Irwin--ROTH Capital Partners -- Analyst Andrew Goffe-- Overbrook Management--Analyst Bill Baldwin--Baldwin Anthony Securities -- Analyst More DAR 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 ourTerms and Conditionsfor additional details, including our Obligatory Capitalized Disclaimers of Liability. More From The Motley Fool • 10 Best Stocks to Buy Today • 3 Stocks That Are Absurdly Cheap Right Now • 5 Warren Buffett Principles to Remember in a Volatile Stock Market • The $16,728 Social Security Bonus You Cannot Afford to Miss • The Must-Read Trump Quote on Social Security • 10 Reasons Why I'm Selling All of My Apple Stock Motley Fool Transcriptionhas no position in any of the stocks mentioned. The Motley Fool recommends Darling Ingredients. The Motley Fool has adisclosure policy. || LATEST: Ethereum’s Constantinople upgrade looks set to go ahead in the next few hours: With just hours left before the next major Ethereum upgrade, there doesn’t appear to be any sign of delays or possible chain split risks. The code change will include two simultaneous upgrades named Constantinople and St Petersburg, both of which will be implemented as hard forks on the Ethereum blockchain. The upgrades are scheduled to occur as soon as Ethereum reaches block 7,280,000. In terms of disruption to the network, most exchanges have put in place precautionary measures to suspend deposits and withdrawals at the time of the fork, but as no contention or chain splits are foreseen, we expect this to be reversed not long after the first few blocks on Constantinople/St Petersburg are mined and the network is stable. Dear users, We will disable ETH deposits/withdrawals from block 7,279,500 for the Constantinople network upgrade scheduled for block 7,280,000. Deposits and Withdrawals will be re-enabled as soon as the Ethereum network is stable. — txbit.io (@txbit_io) February 28, 2019 An upgrade with two names The upgrade has two names to represent two originally separate upgrades that have now been combined into one hard fork event. The implementation of the Constantinople upgrade was previously delayed in January over a newly discovered security vulnerability. According to the speed at which Ethereum’s blocks are mined, it is expected that the hard fork will take place later today, around 8pm (UTC) . Some websites have suggested looking at the Fork Monitor tool to watch the split happen live. The tracker shows the live “Ethereum chain state”, but it does not give any public data on the status of nodes (and clients) that are running on the Ethereum network. What is being upgraded? The upgrade includes four EIP (Ethereum Improvement Proposals) which will be implemented in the network as a hard fork. The contentious EIP 1283 has now been removed – causing the upgrade name to change to include St Petersberg in the title (as Constantinople proposed all five of the below EIPs). Story continues EIP 145: Bitwise Shifting Instructions [efficiency and speed]: This improvement means the execution of shifts in smart contracts will be ten times cheaper. EIP 1014: CREATE2 [scalability]: This upgrade improves the enablement of state channels, an Ethereum scaling solution based on off-chain transactions. EIP 1052: Smart Contract Verification [speed and energy]: This change allows for smart contracts to verify one another by pulling just the hash of the other smart contract. EIP 1234 Block Rewards and Difficulty Bomb Delay [mining reward]: This is the big change for the network. It is comprised of two components: block reward reduction (from three to two ETH) and difficulty bomb delay. EIP 1283: SSTORE [cost]: This change has now been removed. It would have reduced the gas cost for the SSTORE operation. This reduction would have enabled multiple updates to occur within a transaction more cheaply. According to an Ethereum blog post : “Any nodes that have not been upgraded to the new ruleset will be abandoned on the old chain where the previous rules continue to exist.” The ‘thirdening’ Today, when a miner succeeds at mining a block on the Ethereum network, they receive three ETH as a reward. After the Constantinople upgrade (including EIP 1234), miners will receive two ETH per block as a reward. This reduction from three ETH to two ETH is being labelled as the ‘thirdening’ by many in the crypto space. Right now, blocks are mined on the Ethereum blockchain around every 20 seconds. After the fork, this will reduce to around 15 seconds a block, which will give an increase of around 25% in block rate. The reduction in block rate caused by the drop from three to two ETH is around 33%. The net effect will mean that the supply of new Ether will decrease in real terms by around 5-7% on an ongoing basis. Even though faster blocks should give a boost to the number of transactions per second (TPS) on the main chain, the much more significant shift will be towards a security model based on a “limited supply” of Ethereum tokens and away from the energy exhausted by Ethereum miners to earn an ongoing block reward. Not the first block reward reduction This is not Ethereum’s first block reward reduction. The Byzantium upgrade in late 2017 reduced the reward from five ETH to three ETH on the network. Looking at the historical block time data , we can see this matched the last big ramp up in block times prior to the last time the difficulty bomb was delayed. The reduction in ETH rewards over the years is part of an effort to reduce the inflation of Ether. This is a key part of the overall value proposition for the network and a key element of the platform’s incentivised game theory and ‘ tokenomics ‘. Ethereum is also not the only network to implement this strategy. Bitcoin halves its block reward every 210,000 blocks (or roughly every four years) towards its eventual cap of 21 million Bitcoin. Today, the Bitcoin block reward is 12.5 new BTC each block, with the next block reward reduction scheduled for 2020. The total supply of Ether does not yet have an established limit, but this second major reduction in the block reward for the protocol takes it a step closer to shifting the money-making power between the miners and holders of the ETH token. The post LATEST: Ethereum’s Constantinople upgrade looks set to go ahead in the next few hours appeared first on Coin Rivet . || Most Top Cryptos See Minor Losses as Bitcoin Hovers Over $3,850: Sunday, March 3 — the top 20cryptocurrenciesare reporting minor losses on the day to press time. Bitcoin (BTC) is hovering just over the $3,850 mark again, according toCoin360data. Market visualization fromCoin360 At press time, Bitcoin is down a fraction of a percent on the day, trading at around$3,853, according to CoinMarketCap data. Looking at its weekly chart, the current price is nearly half of a percent lower than $3,870, the price at which Bitcoin started the week. Bitcoin 7-day price chart. Source:CoinMarketCap The day before yesterday, blockchain development companyBlockstreamreleaseda new version of its Bitcoin (BTC)scalabilitysolution, c-lightning. Ethereum (ETH) is holding its position as the largest altcoin by market cap, which by press time is over $14 billion. The second-largest altcoin, Ripple (XRP), has a market cap of just under $13 billion by press time. ETH is down by0.64 percentover the last 24 hours, according to CoinMarketCap. At press time, ETH is trading around $133, after having started the day one dollar higher. On its weekly chart, Ethereum has seen its value decrease by about 7.5 percent from $143, the price at which the coin started the week. Ethereum 7-day price chart. Source:CoinMarketCap As Cointelegraphreportedearlier today, Ethereum co-founderVitalik Buterinhas stated he was trying to solve Bitcoin’s limited functionality with the creation of Ethereum. Ripple has lost nearly one percent in the 24 hours to press time and is currently trading at around$0.312. On its weekly chart, the coin gained almost two percent from $0.306, the price at which XRP started the week. Ripple 7-day price chart. Source:CoinMarketCap On March 1,news brokethat an ongoing securities lawsuit against payment startupRipplefor the sale of unregistered securities will stay in federal court, per a recent ruling. Among the top 20 cryptocurrencies, the only ones experiencing gains on the day are EOS (EOS), Maker (MKR), Monero (XMR), Binance Coin (BNB) and Stellar (XLM), but all of those report under one percent growth. Thetotal market capitalizationof all cryptocurrencies currently amounts to about $129.9 billion — which is nearly a quarter of a percent less than $140.6 billion, the value reported one week ago. Total market capitalization 7-day chart. Source:CoinMarketCap As Cointelegraph reported, theUnited StatesFederal Reserveisconsideringthe inclusion of this year’s Bitcoin market collapse as one of the salient risks to be taken into account for its supervisory stress tests. • Crypto Markets See Major Losses, While Stocks Rise as US-China Talks Expected to End • Bitcoin Approaches $3,900 as Crypto Markets Stabilize, Stock Market Slightly Down • Crypto Markets Lose $2 Billion After Brief Recovery Attempt, US Stock Market Is Down • Bitcoin Hits $4K for the Fourth Time in 2019, Stocks Jump Amid US–China Trade Talks || Bitcoin Pushes Past $4,100 as Top Cryptos See Mixed Movements: Sunday, March 31 — the top 20cryptocurrenciesare reporting mixed, mostly mild, price movements on the day by press time, as Bitcoin (BTC) reaches just over $4,100. Market visualization courtesy ofCoin360 Bitcoin has seen nearly no price movement on the day, up just a fraction of a percent trading at around$4,105, according to CoinMarketCap. Looking at its weekly chart, the current price is over two percent lower than the value of BTC one week ago. Bitcoin 7-day price chart courtesy ofCoinMarketCap Ethereum (ETH) is holding onto its position as the largest altcoin by market cap, which is at about $14.9 billion. The second-largest altcoin, Ripple (XRP), has a market cap of about $12.9 billion by press time. ETH has also seen little change today, down by a fraction of a percent over the last 24 hours. At press time, ETH is trading around $141, after having started the day at nearly the same price. On its weekly chart, however, Ethereum has seen its value increase by about three percent. Ethereum 7-day price chart courtesy ofCoinMarketCap The market’s second-largest altcoin, XRP, has lost about one percent over the 24 hours to press time, and is currently trading at around$0.309. Looking at the coin’s weekly chart, its current price is nearly identical to the one it reported a week ago. Ripple 7-day price chart courtesy ofCoinMarketCap Earlier this weeknews brokethatIndia’sFederal Bank, a commercial privatebank, has partnered with Ripple to use its network for cross-borderremittances. Among the top 20 cryptocurrencies, the one reporting the most notable price movement is Tezos (XTZ), which is up by about 16 percent. XTZ’s value has seen huge growth of 56 percent in the past week, following Tezos protocol developments. Dash (DASH) has also seen notable price movement on the day and week, up seven and 12 percent respectively. Litecoin (LTC) — currently the fifth largest coin by market — has seen its price double in the first three months of the current year, growing from about $30 to about $60. This constitutes the best first quarter performance for the coin so far. Litecoin 3-month price chart courtesy ofCoinMarketCap Thetotal market capof all cryptocurrencies is currently equivalent to about $144 billion, which is about 3 percent higher than $140 billion, the value it saw one week ago. As Cointelegraphreportedearlier today, the most popularsocial mediaplatform inRussia, VKontakte, is allegedly considering developing its own cryptocurrency. • Bitcoin Pushes $4,100 as Oil Futures See Losses • Bitcoin Holds $4,000, British Pound Loses to USD as Brexit Anticipation Grows • BTC Hits $4,800 for the First Time in 2019, Top Crypto Markets See Double Digit Growth • Crypto Markets Continue Rising While Bitcoin’s Dominance Continues to Drop [Random Sample of Social Media Buzz (last 60 days)] 03/04 23:00現在 #Bitcoin : 414,915円↑ #NEM #XEM : 4.5円↑ #Monacoin : 134円→ #Ethereum : 13,980円↑ #Zaif : 0.1493円↑ || [12:00] Most mentioned tickers in the last 4 hours: $BTC $ETH $XRP $TRX $XLM $BNB $LTC $EOS $WAN $ADApic.twitter.com/9cQC5cLNO3 || DOGE #Vaultmex Price Alert Time: 2019-04-02 17:04:00 #DOGE BTC Change:% #newcryptocurrency #bittrex #fintech $USD $EUR #vaultmex https://vaultmex.com  || USD: 110.650 EUR: 124.220 GBP: 144.343 AUD: 78.318 NZD: 74.954 CNY: 16.417 CHF: 111.206 BTC: 443,160 ETH: 15,150 Fri Mar 29 08:00 JST || 24H 2019/03/26 02:00 (2019/03/25 01:59) LONG : 23712.08 BTC (-151.02 BTC) SHORT : 20408.55 BTC (+83.74 BTC) LS比 : 53% vs 46% (54% vs 45%) || #Doviz ------------------- #USD : 5.3791 #EUR : 6.1230 #GBP : 7.1224 -------------------------------------- #BTC ------------------- #Gobaba : 22511.83 #BtcTurk : 20629.00 #Koinim : 20677.99 #Paribu : 20638.93 #Koineks : 20769.99 || USD: 110.780 EUR: 126.090 GBP: 147.614 AUD: 79.086 NZD: 75.851 CNY: 16.572 CHF: 110.935 BTC: 421,408 ETH: 15,200 Thu Feb 28 00:00 JST || 6x GPU mining frame 32" L 13.5" H #8 http://bit.ly/2OQm7Ie  $45.00 End Date: Thursday May-2-2019 4:39:04 PDT Buy It Now for only: $45.00 Buy It Now | Add to watch list from https://ebay.to/2TNknjL  #bitcoin #cryptomining #cryptocurrencymining #cryptominingfarmpic.twitter.com/HACljJsudG || One Bitcoin now worth $4004.00@bitstamp. High $4036.430. Low $3904.650. Market Cap $70.517 Billion #bitcoin || #XRP Buy at #OKEx and sell at #EXMO. Ratio: 4.00% Buy at #Poloniex and sell at #EXMO. Ratio: 3.93% Buy at #Gate.io and sell at #EXMO. Ratio: 3.97% #bitcoin #arbitrage #arbitraj #arbingtool http://arbing.info 
Trend: no change || Prices: 5399.37, 5572.36, 5464.87, 5210.52, 5279.35, 5268.29, 5285.14, 5247.35, 5350.73, 5402.70
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 2018-03-26] BTC Price: 8209.40, BTC RSI: 38.93 Gold Price: 1354.40, Gold RSI: 63.96 Oil Price: 65.55, Oil RSI: 62.39 [Random Sample of News (last 60 days)] Circle Rolls Out Cryptocurrency Investing App to 46 US States: circle invest Fintech startup Circle has opened up early access to its new cryptocurrency investing app, providing most US customers with instant, commission-free cryptoasset trading. On Tuesday, the Goldman Sachs-backed company sent emails to users who had participated in Circle Invest’s beta testing program , informing them that it had released version 1.0.1 of the mobile brokerage platform, which is available on both Apple and Android . Circle Invest — whose tagline is “crypto without the cryptic” — provides retail investors with exposure to Circle Trade , the company’s high-volume institutional trading desk. Unlike institutional buyers, however, Circle Invest users can purchase as invest as little as $1. The company does not charge commission for the service, although it says the spread between buy and sell orders is approximately one percent. circle invest At launch, the app supports Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), and Ethereum Classic (ETC), and the company’s website says that “more are on the way.” Investors can purchase cryptocurrencies instantly, but users who abuse this feature by making purchases with insufficient funds in their linked checking accounts will have their ability to make instant buys revoked. All user assets are stored offline in cold storage, and the platform does not currently support cryptocurrency deposits or withdrawals. Due to regional differences in money transmission regulations, the app is not currently available in Minnesota, Hawaii, New York, or Wyoming, though Circle says it is working on becoming available in New York “very soon” and recently-passed legislation in Wyoming may allow it to soon enter this jurisdiction as well. Circle is the latest fintech heavyweight to add cryptocurrency functionality to its product line. Stock investing app Robinhood recently added cryptocurrency trading to its brokerage platform, although this feature is currently only available in five states. Square, meanwhile, offers Bitcoin trading to most US Cash App users and — unlike the current implementations of the other two apps — allows users to withdraw their coins after performing AML/KYC verification. Story continues Each of these companies looks to supplant industry giant Coinbase for preeminence in the lucrative first-time buyer market. Historically, this demographic has been dominated by the San Francisco-based firm, which was almost universally considered to be the most convenient place to onboard into the cryptocurrency ecosystem just a few months ago. Google search data indicates that public interest in cryptocurrency investing is at a relative low-point. but these three platforms promise to give Coinbase a run for its money once the next bull market begins. Feature image from Shutterstock. The post Circle Rolls Out Cryptocurrency Investing App to 46 US States appeared first on CCN . || Winners and Losers From the World's 50 Largest Beer Brewers: Anheuser-Busch InBev (NYSE: BUD) and MillerCoors are still the two biggest breweries in the U.S. The craft beer industry trade group, the Brewers Association, released its annual list of the top-50 U.S. brewers based on beer sales volume, and to no one's surprise the mega brewers remained atop the heap in 2017. Anheuser-Busch produced 113.5 hectoliters of beer in North America last year, or almost 97 million barrels, equivalent to about 3 billion gallons. Despite that being down 3.3% from 2016, it's still appreciably more than the 67.7 million hectoliters MillerCoors parent Molson Coors (NYSE: TAP) reported it produced in the U.S. The outside of a Budweiser brewery with the word budweiser on top of the building. Image source:Anheuser-Busch InBev. Anheuser-Busch owned 43% of the U.S. beer market, while Molson Coors owned 25%. The remainder was owned by other companies. It's in that "other companies" category that the real surprise comes with the Brewers Association tally, and below we highlight the winners and losers in the annual makeup of the top U.S. brewers. Winners The biggest winner is Constellation Brands (NYSE: STZ) , which appeared on the list for the first time in the No. 3 position, behind MillerCoors. Having acquired the U.S. rights to the Mexican Modelo brand and its Corona beer label, it has ridden rising sales and saw that portfolio's depletions jump 9% in the third quarter, driving 80% of its total U.S. beer category growth. Year-to-date shipment volumes are up 8.5% while depletions are 9.5% higher. Depletions are distributor shipments to retail customers and are considered an industry proxy for consumer demand. What made Constellation eligible for the list this year was its joint holdings in domestic brands Ballast Point, Funky Buddha, and Tocayo. Men drinking beer outdoors while cooking on a grill. Image source: Getty Images. The second big winner is Heineken (NASDAQOTH: HEINY) , another first-time entry on the list of biggest U.S. brewers even though it is the world's second-largest brewer. In 2017, Heineken acquired the remaining 50% shares in Lagunitas Brewing that it didn't already own, which secured its eligibility on the list. The brewer notes the brand continues to outperform the U.S. craft beer market. It says Lagunitas is the market leader in the IPA segment, which is the fastest growing sub-segment within craft beer. Story continues It should be pointed out that the Brewers Association has not considered Lagunitas a craft beer since 2015 when Heineken first acquired a 50% stake in the brewer. Its craft beer definition requires a brewer to be independent, meaning less than 25% of the brewer is owned or controlled by a large brewer. But Lagunitas was the ninth biggest brewer overall last year. Diageo (NYSE: DEO) also made the list for the first time, coming in eighth place. Although it has owned several well-known beer brands for years, including Red Stripe (which was sold to Heineken), Guinness, and Harp, in 2016 it reorganized its U.S. beer portfolio while committing to increase its investment in the Smithwick's and Harp brands. The following year Diageo announced plans to open a Guinness brewery in Maryland with new Guinness beers created for the U.S. market. Arguably known best for its Johnnie Walker brand of whisky, beer accounts for 15% of Diageo's total revenues. Samuel Adams beer being poured from tap Image source: Boston Beer. Losers Undoubtedly the biggest loser in the top 50 biggest brewer rankings is Boston Beer (NYSE: SAM) . The company's star turn as the face of the craft beer industry continues to fade as its flagship Samuel Adams brand continues an unrelenting decline. The brewer has steadily fallen down the list. In 2015 it ranked as the fifth largest brewer -- a position it's held since 2009 -- but fell to sixth place in 2016. In the current listing, it has fallen all the way to the ninth spot. It does, however, remain the second largest craft brewer behind D.G. Yuengling & Sons. Revenue has fallen for two consecutive years at Boston Beer, selling 3.7 million barrels in 2017, down 6% from the 4 million it sold the year before. There's also little hope Samuel Adams or its Angry Orchard hard cider brand will be recovering anytime soon. Instead, the brewer is relying upon niche products like hard teas and seltzer to drive growth. If it continues on this path, don't be surprised to find the craft brewer ranked even lower next year on the list of biggest brewers. 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 Rich Duprey has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Anheuser-Busch InBev NV and Boston Beer. The Motley Fool owns shares of Molson Coors Brewing. The Motley Fool recommends Diageo. The Motley Fool has a disclosure policy . || 4 Social Security Tips You Need to Know: Millions of seniors depend on Social Security to pay the bills in retirement, and the more you know about the program, the better positioned you'll be to make the most of your benefits. Here are a few tips that'll help you take full advantage of this key program. Though your Social Security benefits themselves are calculated based on how much you earned during your working years, the age at which you initially file can cause that number to change. In fact, workers are often advised to wait untilfull retirement ageto claim benefits because that's the point at which they'll be eligible to collect those payments in full. Yet nearly 75% of Americanshave no ideawhat their full retirement age is. Your full retirement age is a function of your year of birth, as follows: [{"1943-1954": "1955", "66": "66 and 2 months"}, {"1943-1954": "1956", "66": "66 and 4 months"}, {"1943-1954": "1957", "66": "66 and 6 months"}, {"1943-1954": "1958", "66": "66 and 8 months"}, {"1943-1954": "1959", "66": "66 and 10 months"}, {"1943-1954": "1960", "66": "67"}] Data source: Social Security Administration. This means that if you were born in 1961, you'll need to hold off on filing for Social Security until age 67 to avoid a reduction in benefits. Image source: Getty Images. Though waiting until full retirement age to claim benefits is a wise idea, you can get even more out of Social Security if you hold offpastfull retirement age. In fact, for each full year you delay, you'llaccrue creditsthat boost your payments by 8%. That said, those credits stop accumulating at 70, so once you reach that age, there's no sense innotfiling. Some seniors -- namely, those without much other income -- don't pay taxes on their Social Security benefits. But if you have additional income sources, like a part-time job or savings, you might wind up on the hook for taxes on a portion of your benefits. To see whether your benefits will be taxed, you'll need to figure yourprovisional income, which is your non-Social Security income plus 50% of your yearly Social Security benefit. If that number lands between $25,000 and $34,000 as a single tax filer, or between $32,000 and $44,000 as a joint filer, then you could be taxed on up to 50% of your benefits. Furthermore, if your provisional income is more than $34,000 as a single filer, or $44,000 as a couple filing jointly, then you could be taxed on up to 85% of your benefits. Additionally, there are 13 states that tax Social Security income to varying degrees: • Colorado • Connecticut • Kansas • Minnesota • Missouri • Montana • Nebraska • New Mexico • North Dakota • Rhode Island • Utah • Vermont • West Virginia Many of these statesdooffer some sort of income-based exemption, but Minnesota, North Dakota, Vermont, and West Virginia do not. Regardless of where you live, be prepared to pay taxes on those benefits so you're not caught off guard. The purpose of Social Security is to supplement your senior income -- not provide that income in its entirety. Yet countless workers neglect to save independently for retirement because they assume they'll have their benefits to fall back on, and that's a big mistake. In a best-case scenario, Social Security will replace about 40% of the typical worker's pre-retirement income. Most seniors, however, need double that amount to cover their bills. The Social Security Administration reports that 34% of beneficiaries count on the program to provide between 90% and 100% of their total income. And those are the folks who are more likely to wind up impoverished in old age. A better bet? Save on your own while you're still working. At present, you can contribute up to $5,500 a year to an IRA if you're under 50, and $6,500 if you're 50 or older. Employer-sponsored 401(k)s offer even more generous limits: $18,500 a year for workers under 50, and $24,500 for those 50 and above. Even if you can't max out either account type, saving a small amount each year will help you cover your living costs once you're older so that you're not relying too heavily on Social Security alone. No matter your age, it pays to learn more about Social Security andhow it works. At some point in time, you'll likely come to depend on those benefits to some extent, and arming yourself with knowledge today is the best way to maximize them. 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 adisclosure policy. || Alt Coins Price Forecast February 5, 2018, Technical Analysis: Bitcoin Goldsold rather hard during the trading session on Friday, ultimately losing about 10%. We reached as low as $107, then bounced significantly. However, the bounce was probably more to do with short covering than anything else. If we break down below the $100 level, the market could breakdown even further. I don’t have any interest in buying this market until we break above the $160 level, as it would show a complete reversal. Until then, I think rallies are selling opportunities. Get Into Dash Trading Today DASH tradershave sold off as well, breaking below the vinyl $600 level. We have had a significant bounce in this market though, so – looks like it’s doing a little bit better. Longer-term though, I think we have seen so much in the way of damage that it’s hard to imagine a scenario in which people are willing to jump into this market hand over fist. I think rallies are more than likely going to offer selling opportunities for those who have found themselves underwater in this market. I would not be a buyer at this point, least not until we break significantly above the $650 level on strong volume. The Monero marketsbroke down significantly during the trading session, reaching towards the $200 level, before bouncing rather significantly. We have rallied quite nicely, but the biggest concern I have is that there is a lack of volume. This almost looks to me as if a major stop loss area was tested, and now will be tested again as we have seen so much in the willing selling of the alt coins and crypto currencies in general. I’m not a buyer until we break above the $255 level, as it would make a “higher high.” Buy & Sell Cryptocurrency Instantly Thisarticlewas originally posted on FX Empire • Crude Oil Price Update – Trend Changes to Down on Move Through $63.67 • Gold Price Futures (GC) Technical Analysis – Weak Close Puts Gold in Position to Change Trend to Down • DAX Index Price forecast for the week of February 5, 2018, Technical Analysis • USD/CAD Price forecast for the week of September 5, 2018, Technical Analysis • Alt Coins Price forecast for the week of February 5, 2018, Technical Analysis • Silver Price forecast for the week of February 5, 2018, Technical Analysis || Is Axon Enterprise a Buy?: Axon Enterprise(NASDAQ: AAXN)is at the forefront of law enforcement's move to improve video evidence collection and use of less lethal weapons like tasers. Both products can help make law enforcement and communities safer, and law enforcement more effective. As a company, Axon has been investing most of its potential profits in building out an ever-expanding line of products and functions for its customers. That will continue, and if the company can gain enough market share, it could be a great buy for investors. Image source: Axon Enterprise. We know that Axon's taser and body camera products are gaining traction in the market. In the first three quarters of 2017, taser revenue was up 18% to $170.1 million, and body camera revenue was up 89% to $79 million. That's a growth trend that's been going on for years. AAXN Revenue (TTM)data byYCharts The challenge is that growth hasn't translated to profitability. That's because Axon has been growing operating expenses in R&D and sales more quickly than sales themselves. The idea is to invest in new products to capture market share, which will eventually lead to profitability long-term. One indication that strategy is working is future contracted revenue. Axon has started selling tasers on licenses -- which ensures law enforcement gets regular product upgrades -- and normally sells body cameras with long-term contracts for cloud services on Evidence.com. The company may pay for sales upfront, but the long-term benefit will be felt for years. And at the end of last quarter, there was $494.2 million in future revenue already contracted. That's a good sign that the costs being incurred now will pay off. What excites me about Axon is that it's defining an entirely new market -- and if its products get wide adoption, it should have an extremely profitable business with recurring revenue for the foreseeable future. First, let's take a look at theopportunity for Axon's existing products. Based on the latest data from the U.S. Department of Justice, there are about 1.1 million law enforcement officers in the U.S. I'd suggest that it's reasonable to assume that there are at least 10 times as many global law enforcement officers abroad as there are in the U.S., meaning that there are 11 million potential customers for Axon's products. As of the end of the third quarter, Axon had sold 187,400 Evidence.com licenses since the evidence-tracking website was launched, just scratching the surface of its potential. This is the segment I think investors should focus on, because services around body cameras generated a 77% gross margin in the first three quarters of last year and, as the user base grows, this will drive profitability. New productscould drive both adoption and revenue per customerfor Axon. The three I'm most excited about in 2018 are Sidearm, a holster that turns a body camera on when an officer's gun is pulled, a new records management system, and the Axon Fleet in-car camera. Records management will allow officers to conduct interviews on camera and keep body camera video of an incident in one place. The idea will be to reduce paperwork, improve accuracy, and increase the amount of time an officer can be in the field. These products could make the Axon ecosystem an integral part of law enforcement's work and drive profitability for the company long-term. Axon's net income of $13.6 million over the past year doesn't instill much confidence that the stock is a value, but the investment the company is making in growth looks like it's paying off. Revenue has nearly tripled in the past five years, and new products for 2018 should keep the growth coming. It's growth and very strong margins in the body camera services segment that give me confidence Axon Enterprise is a buy long-term. I'm also confident enough tokeep my outperform call on MyCAPS page, betting the stock will beat the market long-term. 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 Travis Hoiumowns shares of Axon Enterprise. The Motley Fool owns shares of and recommends Axon Enterprise. The Motley Fool has adisclosure policy. || Why Plug Power Popped Nearly 8% Today: What happened Hydrogen fuel cell pioneer Plug Power (NASDAQ: PLUG) saw its stock pop as much as 11% in early trading Wednesday before settling down to end the day up 7.6%. Earnings are the reason, but here's the thing that's going to surprise you: Plug Power hasn't actually reported its earnings yet. Preliminary results are due out tomorrow. Man riding scooter up an arrow Investors today bet that Plug will keep chugging higher when earnings come out tomorrow. Image source: Getty Images. So what Investors (or should I say "traders") spent Wednesday trying to front-run Plug Power's Q4 earnings report, capitalize on Plug's astounding fall in price earlier this year (the stock's down about 18% from Jan. 1), and buy before the stock gets a chance to go back up. Of course, they're forcing the stock up in the process. But was buying Plug stock before tomorrow's update the right move to make? According to analysts quoted on Yahoo! Finance, Plug's update tomorrow aren't exactly going to be of the "good" variety. Although the company is expected to report a narrower loss than it did in Q4 last year, losses per share are still expected to be about $0.07, diluted. Sales, predicted to come in at $32 million, should be down year over year -- about 2%. Now what Whether Plug Power thinks it can beat those estimates is something we'll know in just a few hours. Meanwhile, if you missed out on Plug's run-up by not buying Wednesday, don't fret. You could easily end up missing out on Plug stock's sell-off tomorrow, which wouldn't be so bad. Worst case, you wait a few hours, and then make an informed decision on whether Plug's update will be good enough to justify your investment. The other guys didn't do that today, and they'll have to live with that decision tomorrow. 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 Rich Smith 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 . || Amazon Is Still Crushing Google in this Red-Hot Market: The worldwide smart speaker market could grow from $2.7 billion this year to $11.8 billion by 2023, according to Research and Markets. That's why many tech and consumer electronic companies are all rushing to establish a presence in this growing market. However,Amazon(NASDAQ: AMZN)remains the king of this market in America according to recent estimates from CIRP. The research firm, which surveyed 500 U.S. users, estimates that the Echo controls 69% of the market with 31 million installed devices, whileAlphabet's(NASDAQ: GOOG)(NASDAQ: GOOGL)Google Home controls the remaining 31% with 14 million devices. Amazon's Echo speaker. Image source: Amazon. Amazon enjoys a first mover's advantage in the smart speaker market. After introducing the Echo in an invitation-only launch in late 2014, it was launched widely across the United States in mid-2015. Google Home didn't arrive until late 2016. Amazon leveraged the strength of its online marketplace and Prime ecosystem to sell Echo speakers, which could easily reorder products from Amazon. However, Echo's Alexa could also answer questions; play music, podcasts, and audiobooks; make to-do lists; set alarms; and provide real-time updates on weather, traffic, and news. Subsequent updates also enabled it to control smart home devices. Recognizing Echo's potential to lock users into its ecosystem, Amazon expanded its Echo lineup with cheaper versions like the Dot and Tap, the LCD screen and camera-equipped Show and Spot, the outfit-scanning Echo Look, and the Echo Plus, an upgraded version of the first generation Echo. It also introduced Echo Buttons for playing games with Alexa. Amazon's Echo Show. Image source: Amazon. Amazon focused heavily on the low-end market during last year'sholiday season. The company claimed that the Echo Dot, which was discounted from $50 to $30 during Black Friday, was its top-selling product across all its product categories. Amazon also stated that its Dot, Spot, and Echo Buttons had all sold out during the holiday season. CIRP estimates that the Dot accounts for over half of Amazon's Echo sales. The Echo's strong ties to Amazon's e-commerce backbone, its widespread availability across multiple price tiers, Alexa's growing list of compatible smart home devices, and its first mover's advantage all make it tough for newer rivals like Google to gain ground. Google's late entry into the market already put it at a disadvantage against Amazon. Moreover, some consumers were concerned about putting Google -- a company that generates most of its revenues from targeted ad sales -- in their homes. Google's previous smart home efforts, the Nest thermostat and Nest Cam, also didn't gain much momentum with mainstream consumers. Google Home. Image source: Google. But that doesn't mean Google can't catch up. Google Home syncs quickly with mobile devices, its Chromecast dongles for video and audio streaming, and a wide range of smart home devices. Google is also chasing Amazon into the low-end market -- its newer Google Home Mini speaker, which accounted for about 40% of Google Home sales during the holiday quarter, costs just $50. CIRP also found that 20% of Echo users and 13% of Google Home users own more than one smart speaker, so there could be room for both devices to thrive, with users using Echo for Amazon purchases and services and Google Home for online queries. Google is also enlisting a growing list of third-party hardware vendors, includingJBL,Lenovo,LGandSony, to develop camera and screen-equipped Google Home devices to counter Amazon's Show and Spot. Google also recently blocked Amazon's devices from directly accessing YouTube, but Amazon introduced a workaround by simply adding a link to the browser-based version of YouTube. Amazon is still beating Google in the smart speaker market, but it shouldn't claim victory yet. Google is surprisingly resilient, and it still has plenty of other ways -- like Chromecast and Android TV -- to turn its Home speakers into smart home hubs. Both companies will also face plenty of new challengers, likeApple's HomePodandMicrosoft's Cortanaspeakers, in the near future. Therefore, it's unclear if Amazon and Google will keep controlling this market as a duopoly as those new speakers arrive. 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. 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.Leo Sunowns shares of Amazon. The Motley Fool owns shares of and recommends Alphabet (A shares), Alphabet (C shares), Amazon, and Apple. 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 adisclosure policy. || Warren Buffett's JPM 'mistake': Warren Buffett said that Berkshire Hathaway ( BRK-A , BRK-B ) made a “mistake” by not investing in JPMorgan Chase ( JPM ). Buffett, 87, has publicly praised JPMorgan’s CEO Jamie Dimon . He’s also a fan of Dimon’s annual shareholder letter and often recommends that folks read it. That said, Berkshire Hathaway has never owned a share of the company. “I should’ve [invested],” Buffett told Yahoo Finance editor-in-chief Andy Serwer in a wide-ranging interview in Omaha, Nebraska, recently. “Very obviously. I mean, it’s been a terrifically run operation. And it was very cheap, just like a number of others were.” Berkshire Hathaway has put a large percentage of its capital in bank stocks over the years, including JPMorgan’s peers Wells Fargo ( WFC ), Bank of America ( BAC ), and Goldman Sachs ( GS ). ‘I made a mistake’ Buffett acknowledged that he owns some JPMorgan shares in his personal account. “I only have about five or six stocks. I have nothing, personally, to speak of in stocks,” he said. The majority of his net worth is in Berkshire Hathaway’s stock, and Buffett has “literally never sold a share.” “We have had a pretty heavy weighting in banks right along. But I should have bought JPMorgan,” Buffett said. “I wish we bought a lot more. I made a mistake.” Yahoo Finance will live-stream Berkshire Hathaway’s 2018 Annual Shareholders Meeting on Saturday, May 5th. — Julia La Roche is a finance reporter at Yahoo Finance. Follow her on Twitter . Buffett’s 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 won’t get the returns Buffett and I got by doing what we did || The No. 1 Reason to Buy Alphabet Stock Right Now: There's a lot to like about Google parent Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG) . Aside from being the undisputed champ in search worldwide, the company is at the cutting edge of a number of developing technologies that could result in significant gains for investors in the future. Google is among the pioneers in artificial intelligence (AI) technology. The company has developed a specialized chip -- the tensor processing unit -- to optimize the performance of servers running its TensorFlow AI framework. Its self-driving car unit Waymo is also at the head of the class when it comes to deploying autonomous driving technology, and some analysts believe the segment could be worth billions . The company recently revealed that Google's cloud computing operation is already a $1 billion-per-quarter business. However, while we wait for these cutting-edge technologies to hit it big, it's the digital advertising business that pays the bills -- and business is booming. Dozens of screen images emanating from a central point and expanding outwards representing an abstract digital advertising concept. Digital advertising is growing, and the industry is dominated by Google. Image source: Getty Images. Top player in a growing market Digital advertising revenue in the U.S. totaled $40.1 billion for the first six months of 2017, and it will likely hit $85 billion for the year, according to The Interactive Advertising Bureau (IAB). The group's Internet Advertising Revenue Report, which was released in December, showed that digital ad spending grew 23% over the prior-year period to an all-time high. IAB said the growth was driven primarily by small- and medium-sized businesses moving their advertising dollars online. Google, and fellow digital advertising duopoly member Facebook (NASDAQ: FB) , may account for as much as 73% of all digital advertising in the U.S., up from just 63% in 2015, according to a report by Brian Wieser at Pivotal Research Group. He estimated that for the second quarter, Google and Facebook accounted for 83% of U.S. ad growth. Jason Kint, the CEO of Digital Content Next, was a little more conservative in his estimates. He calculated that Google and Facebook combined account for between 60% of 70% of the entire digital ad market in the U.S. in 2017, with Google controlling 42% of the total. Early last year, Kint estimated that Google and Facebook together accounted for a whopping 89% of all growth in the sector for the prior year. Story continues A dominating presence So, how does Google command so much of the digital ad market? It helps to have the world's most popular search engine. Google controls 75% of the search market for desktop and laptops, and 87% for mobile devices. It doesn't stop there. Google has seven products that that command over a billion users each: Gmail, Chrome, Maps, Search, YouTube, Google Play Store, and Android. Google announced last year that Android had surpassed 2 billion monthly active devices. YouTube is also a standout, with over a billion hours of video watched on the platform every day. All of those users provide a captive audience for the Google's advertising, which is driving the company's financial performance. For 2017, Alphabet's revenue grew to $110 billion, up 23% year over year, while its adjusted net income climbed 16% to $22.5 billion. Don't be like Buffett Since Warren Buffett is among the most successful investors that ever lived, investors would want to learn from the master. For all of his successes, though, the legendary investor isn't perfect, and he says he missed out on the opportunity to invest early on in Google. At the Berkshire Hathaway annual meeting last year, Buffett and vice chairman Charlie Munger admitted they had made a mistake by not investing in the search giant. Buffet said, "I blew it," while Munger added, "If you asked me in retrospect what was our worst mistake in the tech field" -- that was it. In this one respect, don't be like Buffett. 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 Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Danny Vena owns shares of Alphabet (A shares) and Facebook. The Motley Fool owns shares of and recommends Alphabet (A and C shares), Berkshire Hathaway (B shares), and Facebook. The Motley Fool has a disclosure policy . || Down But Not Out: Bitcoin Remains on Hunt for $10K: Bitcoin (BTC) is reporting losses today, having failed to beat the key moving average resistance on Monday, however, the technical charts continue to favor a rally to $10,000. Bitcoin ran into bids in early European hours yesterday, rising to a four-day high of $9,885, adding credence to Sunday's bullish "outside day" candle. Further, BTC also witnessed abull flag breakout(a bullish continuation pattern) on the hourly chart. However, the bulls ran out of steam near the 50-day moving average (MA) resistance of $9,920 in the early U.S. hours. As of writing, bitcoin is trading at $9,297, according to CoinDesk'sBitcoin Price Index(BPI). The cryptocurrency has depreciated by 4.59 percent in the last 24 hours, as per data sourceCoinMarketCap. BTC's retreat from the high of $9,900 to $8,770 (prices as per Bitfinex) poured cold water on the optimism generated by the Sunday'sbullish outside day candleand thebullish triangle breakout. Further, it also established the 50-day MA as a strong resistance (seen today at $9,888). BTC alsoclosed yesterday (as per UTC) below the Feb. 25 low of $9,280, marking a failure to hold above thedouble top neckline. The momentum studies show bear bias too. The 10-day moving average is sloping downwards, and there's a bearish crossover between the 10-day MA and the 50-day MA. So, it appears the odds are stacked against a move above $10,000. That said, BTC is still trading well above the long-legged doji candle low of $8,342 set on March 9. The candlestick pattern represents bearish exhaustion. So, it seems safe to say the odds of a corrective rally are above 50 percent, as long as BTC stays above $8,342. The hourlychartbelow shows a bullish 50-MA and 100-MA crossover. Hence, the cryptocurrency could visit the inverse head-and-shoulders pattern neckline resistance seen around $9,850. An upside break would open doors for $11,000 (target as per the measured height method). The 4-hour chart favors a rally to $9,850 (inverse head-and-shoulders neckline). An upside break would allow a rally to $10,417 (61.8 percent Fibonacci retracement of the sell-off from the March 5 high of $11,700). A violation there would expose resistance at $11,000 (inverse head-and-shoulders breakout target). However, the sustainability of gains is under question as the weekly chart shows therelative strength index(RSI) has rolled over in favor of the bears. Thus, only a weekly close above $11,700 would confirm a long-term bearish-to-bullish trend change. On the downside, a move below $8,770 (previous day's low) could yield a re-test of $8,428 (Sunday's low). Only a daily close (as per UTC) below $8,342 (long-legged doji candle low of March 3) would add credence to the bearish weekly RSI and open doors for a sustained drop to $6,000 (February low) and $5,400 (Nov. 12 low). Magnifying glass and USDimage via Shutterstock • Bitcoin Returns Above $9K But 'Death Cross' Still a Risk • Too Cheap? The Case for Higher Blockchain Fees • Snowden Leak Suggests NSA Is Extensively Tracking Bitcoin Users • Below $500? Ether Price Seeks Floor After 40% Drop [Random Sample of Social Media Buzz (last 60 days)] ZaifでBTCが一時100万円近くまで高騰、他の取引所との価格乖離が約25万円に 本日Zaifがメンテナンスを行なっていましたが、メンテナンス終了後価格が下落方向に向かわず、100万円近くまで高騰。 一時他の日本取引所と25万の乖離となりましたが、アービの影響か乖離縮小へと向かいました。pic.twitter.com/35IQPzXEOz || Current #bitcoin price: $9675.00 USD || @DeepOnionx is killing it with all these recent mentions about the project in different articles🚀 Check this out: https://t.co/JVZ94peLxC #investments #cryptocoin #crypto #airdrop #altcoin #bitcoin #money #coin #anonymity #passiveincome #blockchain #currency #kucoin #privacy https://t.co/JZktGPEeuH || You can always do LN if it works well, but not push people out by large fee. You are certainly not confident that LN could do well, so you must try it by force people to use it. Unfortunatly, people will abandon the whole BTC but use LN. || #dumbwire #technews Senate Releases Testimonies Ahead of Crypto Hearing http://dlvr.it/QFHKqq  #Economy_Regulation #Bitcoin #CFTC #crypto #technologypic.twitter.com/EfxrI8pUrh || 【アビトラチャンス】 [00:31]現在0.00000056 BTCの価格差発生！ 1.poloniex(0.00003692 BTC)で $XEM を買い 2.zaif(0.00003748 BTC)で同額の $XEM を売り（or空売り） 3.価格差が収束したら両方利確 これで1.51%分の利益が見込めます。 #ビットコイン #仮想通貨 #アービトラージ #アビトラ || Con el actual precio del #Bitcoin ($7mil) podría ser una buena opción comprar la moneda digital, pero será mejor esperar a que baje más o quizá sea una mala inversión ¿Comprarían? || CRYPTO BOT - MOST CHANGE IN 1H - TOP100 BTC: $7807.3 / 1.73 NEO: 0.0138676 BTC / +6.06 DRGN: 0.00021673 BTC / +8.55 GAS: 0.00519988 BTC / +6.07 ETHOS: 0.0005014 BTC / +6.97 PAY: 0.00020829 BTC / +5.81 || Bitcoin Up $1500 (24HR)|SEC Loves Bitcoin & Blockchain | Singapore No BAN|Coinbase Segwit https://youtu.be/Jxz5y0rE8NI  || If you ain’t wit the scams. . . Stay tf off Bitcoin it’s a scam lol
Trend: down || Prices: 7833.04, 7954.48, 7165.70, 6890.52, 6973.53, 6844.23, 7083.80, 7456.11, 6853.84, 6811.47
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 2015-09-04] BTC Price: 230.30, BTC RSI: 43.05 Gold Price: 1120.60, Gold RSI: 46.84 Oil Price: 46.05, Oil RSI: 52.88 [Random Sample of News (last 60 days)] Your first trade for Monday: The "Fast Money" traders delivered final trades that were out of this world after NASA astronaut Scott Kelly asked for a stock tip from aboard the International Space Station. Tim Seymour recommended playing the frontier markets by buying the iShares MSCI Frontier 100 ETF(NYSE Arca: FM). David Seaburg's play was Starbucks(SBUX), alluding to the strength of brand loyalty and new products. Brian Kelly suggested shorting the Market Vectors Russia ETF(NYSE Arca: RSX)as a heavenly oil play. Guy Adami went intergalactic as a buyer of Constellation Brands(STZ). Trader disclosure: On July 24, 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, DIS, F, GE, GM, GOOGL, INTC, JPM, SUNE, Tim's firm is long BABA, BIDU, MCD, NKE, NOK, SBUX, YHOO. Today he sold C. Brian Kelly is long BBRY, BTC=; ITB, TAN, TLT, TSL, US dollar; he is short Oil, Ruble, Yuan and Yen. Today he shorted the Ruble. Guy Adami is long CELG, EXAS, INTC, Guy Adami's wife, Linda Snow, works at Merck. David Seaburg: No disclosures. More From CNBC • Top News and Analysis • Latest News Video • Personal Finance || Uber's Food Delivery Service Could Become A Big Part Of Business: The ride-sharing serviceUberrecently rolled out a new service called UberEATS, which customers in certain cities can use to order prepared meals. At first, the offering appeared to be a pilot program that was testing the waters for a wide-scale rollout, but a recent update to the company's app suggests that UberEATS could play a more prominent role in the company's business plan. Front And Center Uberupdatedits mobile app so that customers in New York City, Los Angels, Toronto, Austin, Chicago, Barcelona and San Francisco can easily access the UberEATS ordering screen from the home page. Before, UberEATS was located on a separate screen with other Uber programs, but now the service has its own button for easy access. Related Link: Get To Know UberEATS What Does It Mean? The button's location won't change the company's food delivery service, but it could hint at Uber's intentions for the future. Some say the new prominent location suggests that Uber is getting serious about expanding on food delivery. Others believe that the new location is a way for the company to get more people to try the service out. Uber has also rolled out offers, like free delivery in NYC, to get more people to use UberEATS. Expanding Its Reach Uber's expansion into the food delivery space aligns the company's aim to become an urban logistics giant. Uber execs appear to be bent on turning what began as a taxi service into a comprehensive logistics solution that can deliver anything from a package to a cup of coffee quickly and easily. See more from Benzinga • European Markets Still Uncertain With Greek Elections On The Horizon • Time-Release Capsules Make Medical Marijuana More Approachable • Greeks Begin To See An Opportunity In Bitcoin © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Barclays Becomes First Big U.K. Bank To Accept Bitcoin: Over the weekend, Barclays PLC (NYSE: BCS ) announced that it was planning to take steps toward embracing the use of bitcoin by allowing charitable donations using the cryptocurrency. The London-based bank said it was entering into a partnership with an unnamed "bitcoin exchange" in order to help charities accept bitcoin donations. Barclays And Bitcoin This is not the first time the bank has expressed interest in bitcoin. Related Link: Bitcoin Goes Ivy League Barclays has been working to understand the benefits and risks of the cryptocurrency this year by working with bitcoin startups and researchers to determine if and how digital currencies can fit within the traditional finance sector. The bank has praised blockchain, the ledger-like technology that powers bitcoin, as an innovative system that may significantly benefit traditional banking. Bitcoin Donations Barclays' decision to help charities accept bitcoin donations marks another step forward for the UK, which has been working to make London a hub for bitcoin development. The region already has a prominent place in the financial world, but lawmakers and banking officials are hoping to create an environment that promotes the expansion of bitcoin. Charities Benefit From Bitcoin Charities have been a good starting point for bitcoin adoption, as there are several benefits to accepting digital currency donations. For one, transaction costs are lower, and often nonexistent for non-profits, meaning that more of the donated money makes its way to the intended charity. By accepting bitcoin, charities also appeal to a larger audience and could draw in funding from people who otherwise may not have donated. See more from Benzinga Emerging Market Shares Battered: Is It Time To Buy? © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin Payments Decline Significantly At Expedia: Expedia Inc(NASDAQ:EXPE) introduced bitcoin as a payment option about a year ago. The company hoped to reach new users and meet the growing demand for digital payments by adding a bitcoin option. However over the past 12 months, the travel website said it has seen a significant decline in the number of payments made using bitcoin, something which could be attributed to the cryptocurrency's marked decline. Loss Of Value Expedia's Senior Payments Product Manger Connie Chung toldCoinDeskthat bitcoin purchases on the site have declined by 40 percent over the past year. Chung said that drop makes sense when you look at how much value bitcoin has lost over the past 12 months. When bitcoin was added to Expedia's service in June last year, it was worth more than $600. Now, the currency is trading at just over $270 following a price rally earlier in the month. Related Link:Venture Capitalists Pouring Money Into Bitcoin Bitcoin To Stay Put While the decline in bitcoin payments suggests that consumers aren't as willing to use the cryptocurrency as merchants had predicted, Chung said Expedia plans to continue offering bitcoin as a payment choice for as long as there is some demand for it. She said the company's decision to incorporate bitcoin had little to do with the firm's stance on digital currencies and that it has simply been a way to meet customer needs. See more from Benzinga • EU In Favor Of Iran Deal • Is Social Activism And Marketing A Good Combination? • Deloitte Expresses Interest In Cryptocurrencies By Joining Australian Industry Group © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || The 'Wolf of WhatsApp' wants to sell you penny stocks: Leo DiCaprio Wolf of Wall Street (Paramount) The “pump and dump” scam is a classic stock trick. Someone ruthlessly promotes a stock they hold, driving up the price based on artificial interest, and then sells before everyone realizes the interest was just manufactured. Oftentimes, those stocks are “penny stocks,” which don’t trade on an exchange and are worth only a few cents a share. Real life “Wolf of Wall Street” Jordan Belfort was famous for perfecting the pump and dump to the tune of millions of dollars for himself and his posse. But on Friday a new cadre of penny stock villains struck, this time on the popular messaging app WhatsApp. I first noticed the scam when a friend of mine posted this screenshot on Facebook along with the caption, “ Umm...What? Someone got the serious wrong number on Whatsapp.” Screen Shot 2015 08 21 at 5.38.03 PM (Facebook) But I didn’t put the pieces of the scam together until The Awl’s John Herrman pointed out that the spam seemed to be part of a coordinated pump and dump scheme. AVRN is the stock sign for Avra, Inc., which is a digital currency (think Bitcoin) company. And the scam seems to have been dastardly effective. As you can see from this chart from Yahoo Finance, the stock for Avra shot up at around 11 a.m. before crashing shortly thereafter: Screen Shot 2015 08 21 at 5.25.46 PM (Yahoo Finance) Some people were clearly fooled, and assuming the scammers timed it right and didn’t totally bungle the operation, they probably made some cash. This isn’t the first time that potential pump and dumpers have used an innovative messaging medium to cut through the noise. Last month, Twitter shares spiked based on a phony report on a website made to look like Bloomberg.com . The story had said that Twitter was fielding an offer to be taken over for $31 billion. NOW WATCH: The story behind the famously offensive twitter account that parodies Wall Street culture More From Business Insider Here's what to expect from the next iPhone's camera, according to a person who's making it Make no mistake — this is the opening of the 'China Decade' It's no longer all about ads — Here's how publishers, streaming sites, and apps are using subscriptions to boost revenues || What to Watch in the Week Ahead and on Monday, July 13: (The Day Ahead is an email and PDF publication that includes the day's major stories and events, analyses and other features. To receive The Day Ahead, Eikon users can register at . Thomson One users can register at RT/DAY/US. All times in ET/GMT) WEEK AHEAD The stock market this quarter doesn't get its usual one-week on-ramp to earnings season, instead getting hit with JPMorgan, Wells Fargo, Intel, Netflix, Google, General Electric Co and Honeywell, all in one week. Add in the political yelling that has become the semi-annual Federal Reserve Chair Janet Yellen's testimony and the ongoing craziness that is Greece's potential exit from the euro zone - to say nothing of China's turmoil - and it should be a lively week for markets, and one that will likely see a lot of volatility. Euro zone finance ministers may make a "major decision" when they hold a special meeting on Saturday to weigh a new Greek proposal for emergency funding. The ministers' conclusions will be reviewed by euro zone leaders at a summit called for on Sunday. Fed Chair Janet Yellen delivers semi-annual testimony on monetary policy before the House Financial Services Committee in Washington on Wednesday and Thursday. The July hearing has more drama heading into it than the February testimonies. For one, Yellen starts this time with the House, where she ended last time, after trading some testy exchanges with Republican congressmen. This week's congressional appearance also comes as the Fed appears closer to raising interest rates for the first time since 2006. Yellen's appearance comes just a few weeks after the Fed's last Federal Open Market Committee meeting, and two weeks before its next one - so Yellen will be unlikely to drop too many policy hints and changes in this round or testimony, unless she wants to point the market harder to September lift-off. Dow components Johnson & Johnson, General Electric Co, JP Morgan Chase & Co, Intel Corp, Goldman Sachs Group Inc and UnitedHealth Group Inc are scheduled to report quarterly results in the coming week. Johnson & Johnson is expected to report on Tuesday lower second-quarter sales and earnings as weak revenue from medical devices and consumer products and a stronger dollar more than offset the benefit of surging sales of its newer prescription medicines. The same day, JPMorgan Chase & Co releases second-quarter results. Separately, Goldman Sachs is expected to report lower second-quarter profit on Thursday. Intel Corp is expected to report second-quarter revenue and profit below analysts' expectations on Wednesday, according to Thomson Reuters StarMine. General Electric reports second-quarter earnings on Friday, with Wall Street eyeing updates on the U.S. conglomerate's desired portfolio moves as it seeks to become a more focused industrial company. UnitedHealth Group Inc will report second-quarter earnings on Thursday. The quarter is expected to be a strong one for UnitedHealth, whose technology and pharmacy management business has helped it report regular growth in quarterly operating profit. Story continues Google Inc, the operator of the world's No. 1 Internet search engine, is scheduled to post second-quarter results on Thursday. The company is expected to report quarterly revenue slightly below analysts' estimates, according to Thomson Reuters StarMine data, hurt by the impact of a stronger dollar. Google, which generates about half of its revenue outside the United States, has also faced challenges in mobile advertising and it is investing heavily in new businesses. Citigroup Inc reports second-quarter results on Thursday. The most international of banks based in the United States is expected to see quarterly profits rebound sharply from a year earlier, when net income was all but obliterated by high legal and restructuring costs. Separately, Wells Fargo & Co will also report second-quarter results on Tuesday. The bank's mortgage banking business is expected to do well during the quarter as more people buy new homes in an improving economy. On Wednesday, Bank of America Corp is expected to report an increase in its second-quarter profit. The bank's results from fixed-income trading are expected to lag those of competitors because it is more heavily weighted toward trading credit instruments such as corporate bonds and it handles relatively fewer interest rate-sensitive government securities, Chief Financial Officer Bruce Thompson warned investors in June. The U.S. Labor Department releases its Consumer Price Index for June on Friday. The index is expected to have risen at a slower pace than in the previous month. Separately, the department will issue on Wednesday its June producer price index for final demand. On the same day, the Federal Reserve releases data for June industrial output, which is expected to have risen 0.2 percent after falling 0.2 percent in May. Meanwhile, the Commerce Department issues June retail sales data on Tuesday. Economists expect retail sales, which surged 1.2 percent in May, to have risen just 0.3 percent in June. On Friday, the University of Michigan's preliminary reading on its overall index on consumer sentiment for July is expected to come at 96.0 compared with a final reading of 96.1 for the previous month. Also, the Federal Reserve issues its so-called Beige Book on Wednesday. Federal Reserve Bank of Kansas City President Esther George speaks on economic conditions and monetary policy before the Federal Reserve Bank of Kansas City 2015 Agricultural Symposium in Kansas City, Missouri, on Tuesday. On Wednesday, Federal Reserve Bank of Cleveland President Loretta Mester speaks on the economic outlook and participates in live interview before the Columbus Metropolitan Club Forum in Columbus, Ohio. The same day, the Federal Reserve Bank of San Francisco President John Williams will speak on the economic outlook before the Mesa Chamber of Commerce in Mesa, Arizona and in another event, he will also give a brief summary on the economy before a Greater Phoenix Economic Council panel on economic trends in Phoenix, Arizona. On Thursday, e-commerce company eBay Inc is expected to report second-quarter revenue below expectations, according to some analysts. Revenue from the company's marketplace business, which includes its e-commerce platform ebay.com, fell last quarter, hurt by increasing competition from rivals such as Amazon.com and changes in Google's search algorithms. Investors will be looking for signs of a turnaround at eBay's marketplace business. They will also look for any commentary from the company regarding post-spinoff valuation of the marketplace business. Schlumberger Ltd, the world's No.1 oilfield services provider, is expected to report a fall in second-quarter profit on Thursday as lower oil prices weigh on global drilling activity. Schlumberger, which has cut 20,000 jobs this year, has swiftly controlled costs to maintain margins in a weak commodity market. With oil prices staying around $50 per barrel, a handful of optimistic shale producers are looking to deploy more rigs. Investors will also look for comments on pricing and expectations for industry spending in the second half of the year. Another topic of interest this quarter is the company's pending deal with Russia's Eurasia Drilling. BlackRock Inc, the world's largest asset manager, will report second-quarter results on Wednesday. Investors will await Chief Executive Larry Fink's comments on the results, the markets, Greece and China, among other issues. Charles Schwab Corp will report its second-quarter results on Thursday. Analysts expect the company's profit to rise to 24 cents per share from 23 cents a year earlier, helped by higher fees for advisory accounts and slightly higher trading commissions. But the big revenue bonus that Schwab expects from investing cash it will get in its clients account once rates rise remains evasive, amid signs that the Federal Reserve may again delay rate hikes. Delta Air Lines Inc is expected to post second-quarter results in line with analysts' expectations on Wednesday. However, investors will want to know how the airline plans to respond to falling demand abroad due to a stronger dollar, a regulatory investigation into U.S. airlines' capacity plans and pilots' decision to reject management's proposal for a new contract. Yum Brands reports second-quarter results on Tuesday. Yum's China business remains in the spotlight as it fights to recover from a food scandal in its biggest market for profit. Analysts say that the company is suffering from "brand fatigue" in China, where competition is mounting and its image has been hurt by food scares that have raised doubts over its supply chain. The KFC, Pizza Hut and Taco Bell chain owner said it expected another tough quarter before a recovery in China, but this recovery could be pushed further as consumers cut back on discretionary spending amid an economic slowdown and fears stemming from the sharp decline in the Chinese stock market over the past few weeks. Investors will be looking for outlook and commentary on the impact from recent developments in China. Profit and sales are expected to beat a generally low bar for second-quarter estimates, according to Thomson Reuters StarMine. Netflix Inc, a TV and movie streaming service provider, is scheduled to post second-quarter results on Wednesday. The company is expected to report quarterly revenue above estimates, according to analysts, as it is expected to sign up more video streaming subscribers than previously expected. The cost of driving subscriber growth has been high as Netflix continues to invest heavily in international markets, but it is yet to see any profits from outside the United States. Kinder Morgan Inc, the leading U.S. pipeline company, is expected to report a lower second-quarter profit on Wednesday, but the focus this quarter will be on the company's reorganization. Kinder Morgan shed its tax-advantaged master limited partnership structure last August by folding its units into one publicly traded corporation in a $70-billion deal. Investors will see if the new structure will help allay concerns about the company's growth prospects and complicated financial structure. The company has said the reorganization would help it grow its dividend by about 10 percent a year and clock bigger income tax savings. Domino's Pizza Inc reports second-quarter results on Thursday. The second-largest U.S. pizza chain is expected to report revenue below the average analyst estimate, according to Thomson Reuters StarMine. Chief Executive Patrick Doyle has said the company would need to raise minimum wage to stay competitive following McDonald's announcement of wage hikes in April. Investors will look out for any related announcement and updates on commodity costs, which the company said are likely to come down after cheese prices soared last year. On Thursday, chipmaker Advanced Micro Devices Inc is expected to report second-quarter earnings below the average analyst estimate, according to Thomson Reuters StarMine data. The company lowered its revenue estimate for the second quarter on Monday, citing weaker-than-expected demand for personal computers. All eyes will be on weak PC sales and whether the company can mitigate some of the impact with cost cuts. Barbie doll and Fisher-Price toys maker Mattel Inc is expected to report on Thursday second-quarter revenue above the average analyst estimate, according to Thomson Reuters StarMine. The company will report its first quarter under new Chief Executive Christopher Sinclair, who took the top post in April. Sinclair has said Mattel needs to move urgently to create toys that connect with young customers in the face of flagging Barbie sales. Investors will look for announcements from Sinclair, a former Pepsi executive, on how he plans to turn around Mattel and make it more competitive, and any updates on the company's preparations for the holiday season. Honeywell International Inc, a major manufacturer of aircraft electronics and climate control systems, is expected to report second-quarter results below analysts' expectations on Friday, according to Thomson Reuters StarMine. Honeywell said in April that it expected a stronger dollar to hurt revenue by 4-6 percent in the quarter ended June. Investors will be looking for updated comments on how Honeywell expects the dollar to affect business in the full year. The initial public offering of the U.S. deep discount retailer Ollie's Bargain Outlet Holdings Inc is scheduled for Thursday. Ollie's Bargain operates 181 stores across the United States, selling excess inventory and salvage merchandise such as houseware, sporting goods and toys from manufacturers who make too much of an item or change their packaging. Ollie's net income rose 38 percent to $27 million in fiscal 2014, while revenue increased 18 percent to $638 million. Bank of Canada announces its rate decision on Wednesday and Governor Stephen Poloz holds a news conference upon the release of the Monetary Policy Report. A series of weak economic data suggesting Canada may already be in recession has prompted a growing minority of economists to predict the central bank may cut rates again, possibly as soon as next week, a Reuters poll has found. Chile's central bank meets on Tuesday to set the interest rate. The central bank is expected to keep its benchmark interest rate on hold at its current 3.0 percent through the following 11 months, scaling back expectations, according to the median response of 61 analysts and economists surveyed by the bank in a poll. Also, Argentina is due to release June consumer inflation data on Wednesday. ON MONDAY, JULY 13 Treasury Department issues a monthly budget report for June. The department is expected to post a budget surplus of $51.0 billion in June compared with a $82.4 billion deficit reported in May. (1400/1800) The United Auto Workers (UAW) union and General Motors Co hold the ceremonial handshake between union president Dennis Williams and company CEO Mary Barra to mark the start of labor negotiations for a new four-year contract for about 51,000 workers. The union has lost power but it can still upset GM's quest to keep labor costs low enough to compete with Japanese, Korean and German automakers with U.S. plants. UAW leaders will bargain with Fiat Chrysler Automobiles and Ford Motor Co later in the week. LIVECHAT - BITCOIN BITES with Anatoliy Knyazev, managing partner, Exante With Greek worries contributing to Bitcoin's best run in 18 months and the crypto currency even touted as a possible parallel currency in the Hellenic Republic, has the controversial payment system's time come? We chat with Anatoliy Knyazev, managing partner at Malta-based brokerage Exante, which previously debuted the world's first Bitcoin-only fund. (0500/0900) To join the Global Markets Forum, click here http://bit.ly/1kTxdKD (Compiled by Nivedita Balu in Bengaluru; Editing by Kirti Pandey) || CCEDK and Bit-X Release Nanocard: The First True Crypto-Debit Card: CCEDK has announced that it is coming out with its own Bitcoin debit card BLOKHUS, DENMARK / ACCESSWIRE / July 13, 2015 / In addition to strictly storing the funds as Bitcoin or USD, the user will have the option to store their money as a BitShares BitAsset. Also referred to as SmartCoins, they would be pegged to the value of the dollar or another major currency. "A new generation of 2.0 coins is being used to address the volatility issue. BitShares' SmartCoins will be available as funding options for the NanoCard in the coming months, meaning that customer balances can be safely stored as crypto coins pegged to USD, EUR, CNY or even gold and silver, and converted only at the time of use," explained CEO Ronnie Boesing. This is a fundamentally lacking feature in many card programs available to Bitcoiners, although Bitreserve has come along way to deal with the problem of volatility. The new card will be called the NanoCard and will be broadly available to customers of the exchange beginning today. The NanoCard is a collaboration between Danish bitcoin exchange CCEDK and forex platform Bit-x , which aims to show how virtual currencies are finally coming of age. Ronnie Boesing believes that something like the NanoCard could be a "killer app" for Bitcoin, saying. "Bit-x, CCEDK, Cryptonomex, BitShares: each provides a part of the puzzle and the result is bitcoin's killer app." However, there are a number of other Bitcoin debit cards out there, including some that allow the user to receive part of their pay in Bitcoin, and then still have access to the funds for spending even after the conversion to bitcoin. Regardless, those at CCEDK were excited to r e lease a debit card for their traders to make use of. According to CEO Mr. Boesing, "We have combined the strengths of digital currencies pioneered by bitcoin with the universal acceptance of major credit cards. It's the combination of technologies that makes the NanoCard so powerful. We are extremely proud to have partnered with Bit-x after just a year in business. The result is perhaps the world's first true crypto-debit card. No one can tell you how to use your own money and thanks to Bit-x this will be accepted everywhere." Additionally, CCEDK is partnering with Cryptonomex in order to provide new security measures to protect funds and trading. Part of what Cryptonomex will do is create auditing and transparency layers for CCEDK's customers to have an opportunity to verify what's on the exchange. Transparency is an element of strength for any exchange, as the Bitcoin community learned, through events like Mt. Gox, what a severe lack of transparency can do. "You won't have to worry about our exchange being hacked or whether it is honest or solvent," explains Boesing. Story continues Contact CCEDK | Crypto Coins Exchange Denmark Aps: Ronny Boesing +45-36-98-11-50 [email protected] Tyttebærvej 6, Hune, DK-9492 Blokhus Denmark SOURCE: CCEDK.com View comments || 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 to incorporate bitcoin on 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 like PayPal 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. || Bitcoin Driven HashingSpace Launches HashScanner to Maximize Bitcoin Payouts: HashingSpace Corporation (HSHS) Announced Today That It Has Launched a New Service, HashScanner, to Maximize Bitcoin Mining Capabilities. HashingSpace's Mission Is to Build out Key Infrastructure for the Global Adoption of Bitcoin and Blockchain Services with Hosted ASIC Mining WENATCHEE, WA / ACCESSWIRE /September 1, 2015 /HashingSpace Corporation (OTCQB: HSHS), a Bitcoin ASIC mining and hosting company, announced today that the company has made available HashScanner, a proprietary service to maximize Bitcoin payouts for HashingSpace miners. The new service allows miners to scan P2Pools to see which has the lowest latency. It also shows pools score, efficiencies, uptime, location, fees, hash rate and version number. This free service shows how HASHPOOL ranks with HashingSpace's 13 nodes located across the world. Our HashPool.com mining pools are GEO-IP load balanced through DNS to allow mining pools one address, which load balances and fails over for all of our the nodes. We also allow for individual node access. "We are excited to bring to the Bitcoin marketplace this free HashScanner service. We feel it is well designed and user friendly. It is a definitive source for the highest paying p2pool mining pools. This allows our customers to maximize their mining capabilities and increase their profits and shows how HashPool ranks among the P2Pools," stated Timothy Roberts, CEO of HashingSpace Corporation. "This completes another goal of ours to provide intuitive, convenient, robust and secure bitcoin solutions to the Bitcoin community." HashScanner can be accessed atwww.hashscanner.comand also through the HashingSpace mining portal atwww.hashpool.com. HashingSpace Corporation's business will provide a wide range of services to include: FORTRESS ONE HOSTING:Tier 3+ Enterprise Class, Green High Intensity Hosting for Blockchain CRYPTOHASH HOSTING:Tier 1 Green High Intensity Hosting for Crypto Currency ASIC Mining CLOUDHASH:Cloud mining servers that can be rented with full hashing power HASHMINING:Our own Mining Farm HASHATM:Owner and operator of Bitcoin ATM machines HASHWALLET:Bitcoin consumer wallet for bitcoin banking and transactions HASHPOOL:Public Stratum and P2Pool (Web/IOS/Droid) HASHTICKER:Free Ticker for tracking Bitcoin Value (Screen Saver/Web/IOS/Droid) HASHVAR:A wholesaler of Bitcoin servers and Bitcoin ATM machines All company information, including stock trading, filings, and market data related to the company, is reported under the ticker symbol, HSHS. About HashingSpace Corporation HashingSpace Corporation is a Bitcoin ASIC mining company, hosting provider, and service provider of blockchain transactional services. HashingSpace's high density datacenters are designed to meet the demanding power and cooling needs of client hosted Bitcoin mining gear with unparalleled pricing, cooling and green energy. The Corporation is continuing to expand its datacenters to satisfy the shortage of low cost hosting facilities catering to the Bitcoin and blockchain mining and transactional verification services industry specifically. HashingSpace Corporation manages HashWallet, a Bitcoin wallet; HashPool, a Bitcoin mining pool; and HashATM, the owner and operator of Bitcoin ATM machines. The company is a wholesaler of Bitcoin mining servers and Bitcoin ATM machines. Bitcoin businesses interested in reselling HashingSpace products and services are invited to reach out to HashingSpace Corporation for more information. HashingSpace Corporation is headquartered in Wenatchee, Washington. For more information, visitwww.hashingspace.com. Any unreleased services or features referenced in this or other press releases or public statements may not be currently available and may not be delivered on time or at all. Customers who purchase HashingSpace services should make their purchase decisions based upon features currently available. For more information please visithttp://www.hashingspace.comor call 1-855-HASHING (427-4464). Safe Harbor Statement This press release contains 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. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the Company's current plans and expectations, as well as future results of operations and financial condition. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Company Contact: HashingSpace Corporation5042 Wilshire Blvd. #26900Los Angeles, CA, 90036855-HASHING (427-4464)Investor Relations:[email protected] SOURCE:HashingSpace Corporation || itBit hires former NY financial regulator's general counsel: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Bitcoin exchange itBit has hired Daniel Alter as the company's new general counsel and chief compliance officer, the firm announced on Wednesday. Alter, who spent three years as general counsel to the New York State Department of Financial Services (DFS), said there was no impropriety in his employment at itBit. "The New York State Public Officers law requires that I have a two-year recusal before I can appear before the New York Department of Financial Services on behalf of the company," said Alter, who left the DFS in mid-February and joined itBit last week. "And it will certainly apply to itBit. I will not step near or have any communications with the New York Department of Financial Services. Those will be handled by outside counsel or qualified compliance people within the company," added Alter, who is also an adjunct professor of law at New York University School of Law. In June, Benjamin Lawsky, former superintendent of the New York DFS also left the agency to form his own consulting firm that will advise companies on regulation and other matters. Lawsky was widely criticized by the bitcoin community that he may have generated consulting work for himself by issuing controversial regulations for virtual currency firms before he left his post. itBit also announced the appointment of Kim Petry as the company's chief financial officer. Petry joins itBit from her post as CFO of global operations and technology at Broadridge Financial. Prior to Broadridge, Petry served as the CFO and vice president of global commercial/corporate card payment at American Express Co. itBit's new appointments are the latest in a series of high-profile additions to the company's leadership team. Sheila Bair, former chairman of the Federal Deposit Insurance Company, Senator Bill Bradley, and Robert Herz, former chairman of the Financial Accounting Standards Board, joined itBit's Board of Directors in May this year. The New York-based exchange was recently granted a trust charter by the DFS. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Diane Craft) [Random Sample of Social Media Buzz (last 60 days)] Current price: 254.69€ $BTCEUR $btc #bitcoin 2015-07-13 11:00:04 CEST || Current price: 204.77€ $BTCEUR $btc #bitcoin 2015-09-03 00:20:02 CEST || Current price: 145.91£ $BTCGBP $btc #bitcoin 2015-09-03 00:00:04 BST || Bitcoin traded at $265.5 USD on BTC-e at 06:00 PM Pacific Time || buysellbitco.in #bitcoin price in INR, Buy : 17057.00 INR Sell : 16510.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || #RDD / #BTC on the exchanges: Cryptsy: 0.00000004 Bittrex: 0.00000005 Average $1.1E-5 per #reddcoin 16:45:00 || Current price: 227.27$ $BTCUSD $btc #bitcoin 2015-09-01 11:00:01 EDT || ~6000btc of fake sellwalls pulled from Bitfinex ... it got too expensive for the bears to surpress the price #btc #bitcoin || In the last hour, 10 people won 1.00 BTC playing Bitcoin lottery at http://10xbtc.com , the easiest BTC lottery, 160BTC Jackpot || 1 #BTC (#Bitcoin) quotes: $253.90/$254.10 #Bitstamp $248.11/$248.90 #BTCe ⇢$-5.99/$-5.00 $253.96/$254.23 #Coinbase ⇢$-0.14/$0.33
Trend: down || Prices: 235.02, 239.84, 239.85, 243.61, 238.17, 238.48, 240.11, 235.23, 230.51, 230.64
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 2016-11-09] BTC Price: 723.27, BTC RSI: 64.47 Gold Price: 1272.60, Gold RSI: 45.03 Oil Price: 45.27, Oil RSI: 39.21 [Random Sample of News (last 60 days)] American Express still faces hurdles from Costco: Amex Costco (BII) This story was delivered to BI Intelligence " Payments Briefing " subscribers. To learn more and subscribe, please click here . After a series of tough quarters, American Express beat analyst expectations in Q3 . The firm’s success was propelled by “strong operating discipline and credit quality,” according to CEO Ken Chenault. But as Amex looks to cut $1 billion in costs over the course of the next several quarters in the wake of the sale of its Costco business, the firm still has hurdles to overcome. Despite overall gains, Amex saw mediocre results in a few key metrics, largely related to the loss of Costco’s store card portfolio, which Amex sold to Citigroup in June. Costco cardholders represented 8% of the firm’s billed business in 2015. Here are some key results from the quarter: Billed business: Amex’s global billed business in the quarter was down 3% year-over-year. But excluding the Costco portfolio, it grew 7%, which indicates the impact that the Costco loss has had on the company. The firm noted that it’s on track to retain 20% of the out-of-store spend of the previous Costco cardholders that it retained, but that’s still a meager portion of the $80 billion Costco cardholders spent in 2015, In addition, loans, which the Costco portfolio represented 20% of, fell by 12% in Q3. Issued cards: Amex had 108.8 million cards issued globally at the end of Q3 — that’s down by 7 million from the same period in 2015, despite reports of strong new customer acquisition in earlier quarters this year. That’s likely partly due to the loss of the Costco portfolio, which had 11.6 million cardholders. But the firm plans to invest in initiatives that will help it grow through Q4 and into next year.The firm outlined a few key focus areas that the firm will use to grow. Premium cards: Amex plans to focus heavily on its Platinum portfolio, likely as a result of the intense premium rewards card competition in the market right now. This portfolio could be particularly lucrative for the firm because of the high fees associated with it, and because premium cardholders will likely have higher spend. Small businesses: Amex has been working to extend relationships with small businesses through its OptBlue program, which makes it easier for these merchants to accept and use Amex cards. That program has been successful, and the firm has seen growing billed business among small- and medium-sized merchants. In Q4, Amex plans to run a promotion related to Small Business Saturday in order to make it known to cardholders that their acceptance network is growing, which could help encourage customers to spend more on Amex and boost the firm’s billed business. Marketing and outreach: Amex is looking to build on ongoing US customer acquisition success and ramp up in key international markets. The firm will boost digital marketing initiatives and run an extensive advertising campaign, which could help onboard younger customers or groups in key markets that will spend and provide Amex with additional transaction and card fee-related revenue. Story continues American Express and Costco are part of the much broader payments ecosystem, which includes merchants, acquirers, processors, and more. Evan Bakker and John Heggestuen, analysts at BI Intelligence , Business Insider's premium research service, have compiled a detailed report on the payments ecosystem that drills 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. 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. To get your copy of this invaluable guide, choose one of these options: Subscribe to an ALL-ACCESS Membership with BI Intelligence and gain immediate access to this report AND over 100 other expertly researched deep-dive reports, subscriptions to all of our daily newsletters, and much more. >> START A MEMBERSHIP Purchase the report and download it immediately from our research store. >> BUY THE REPORT The choice is yours. But however you decide to acquire this report, you’ve given yourself a powerful advantage in your understanding of the payments ecosystem. More From Business Insider THE MOBILE PAYMENTS REPORT: Market forecasts, consumer trends, and the barriers and benefits that will influence adoption THE CONNECTED DEVICE PAYMENTS REPORT: Market opportunities, top stakeholders, and new use cases for the next frontier in payments THE PAYMENTS INDUSTRY EXPLAINED: The trends creating new winners and losers in the card-processing ecosystem View comments || 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) || Your first trade for Wednesday, September 21: The "Fast Money" traders gave their final trades of the day. Pete Najarian is a buyer of 58.com (WUBA). Tim Seymour is a buyer of Time Warner Cable (TWX(NYSE: TWX)). Brian Kelly is a buyer of Proshares Ultrashort Yen (YCS(NYSE Arca: YCS)). Dan Nathan is a seller of the Financial Sector (XLF(Mexico Stock Exchange: XLF-MX)). Trader disclosure: OnTuesday, September 20the 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, CME, DXJ, GDX, KBE, SLV, TLT, VXX, XLF, XOP, US Dollar UUP; he is short EUR=, JPY= Dan Nathan is Long TWTR, long PYPL call calendar, Long FEZ Nov put spread, long EEM Nov put spread, long XHB jan put spread, long XLK Jan put spread, XLU Dec call spread Tim Seymour is long APC, AVP, BAC, BBRY, CLF, 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. short: SPY, XRT; Tim's firm is long ABX, BABA, BIDU, CBD, CLF, EWZ, F, HD, KO, MCD, MPEL, NKE, PEP, PF, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, X, YHOO, short HYG, IWM, UAL Pete Najarian is long AAPL, BAC, BMY, DIS, DISCA, GE, KMI, KMIA, KO, LUX, PEP, PFE, VIAB CALLS: AAL, ABT, AMD, APC, BAC, BSX, CNX, COP, CRM, CS, CSCO, DAL, DISH, ETP, GS, GT, INTEL, JBLU, JCP, KGC, LLY, KMI, KO, LOW, M, SBUX, SLW, TMUS, TTS, TWTR, VRX, X, SLV, ATVI, WUBA Puts: CLF, EEM More From CNBC • Top News and Analysis • Latest News Video • Personal Finance || And this is why you don’t scam a security professional on Reddit: Trying to scam someone on the internet is always a bad idea, but if that someone turns out to be the head of a security research company, you're in for a whole world of hurt. Christian Haschek is an Austrian security researcher who was trying to sell $500 in US Apple gift cards on Reddit, since they're a pain to use from overseas. He thought he had struck a deal with a buyer, but that buyer turned out to be less than honest . DON'T MISS: Reaction roundup: How angry are people about the iPhone 7’s missing headphone jack? After attempting to verify the buyer through an eBay account, Haschek mailed the cards to the buyer. He was expecting Bitcoin payment sometime soon after, but that never came. Getting angry , he messaged the verified eBay account, only to get a message denying any knowledge of the sale. At the same time, the Reddit account he had been dealing with was deleted. So, Haschek embarked on a slightly more low-key and geeky version of Liam Neeson's Taken . He used the Reddit and eBay account names to track down a Steam name, and through that, a Facebook account of the scammer's friend. He used that and some painstaking Facebook stalking to find the scammer's full name and all of his family, and that's where things got really good. He sent a message to the scammer's mom and brother outlining the situation, and said that something had to be done or he would got to the cops. Unsurprisingly, the Bitcoin for the gift cards came quickly thereafter, along with a grovelling apology. In the end, there was no harm done on either side. But it also goes to show that little on the internet is really anonymous. If you want to scam someone -- or conduct perfectly legitimate business on the internet without being found -- remember to start with brand-new accounts. You can (and should) read the full account here . Trending right now: Ultimate Pokemon Go cheat lets you walk anywhere in the game without moving an inch Apple’s dual camera system will remain an iPhone Plus exclusive with the iPhone 8 Steve Jobs’ thoughts on ‘courage’ help explain why Apple removed the iPhone 7’s headphone jack See the original version of this article on BGR.com || Got bitcoin? Despite early setbacks, some say it is stronger than ever: Bitcoin, the digital currency that captivated the world just three years ago before being tainted by scandals, may be making a comeback. In fact, many experts say it never really went away despite wild swings in its value. "I think the future of digital currency is bright," said Marco Santori, a partner at Pillsbury Winthrop Shaw Pittman in New York, and leader of the firm's digital currency and blockchain technology team. Blockchain refers to the virtual ledger that powers bitcoin and other cryptocurrencies. "This is probably the most important invention since the internet," Santori said in an interview with CNBC's " American Greed ." From the beginning, the concept has been alluring if not utopian. Imagine a currency that is not tied to the whims of politicians, the foibles of central bankers, or the fortunes of a particular country. Rather than relying on a government to mint a currency, users could "mine" their own bitcoin by running software — contributing their own computing power to verify other bitcoin transactions. Or they could simply buy bitcoin on one of several online exchanges, investing in it like any other currency. To many, it seemed like a good bet. By the fall of 2013, with the U.S. government locked in yet another showdown over raising the debt ceiling and facing the specter of an unprecedented default, interest in virtual currencies like bitcoin peaked. The price of a single bitcoin reached a high of $1,108.80 according to Coinbase, the first licensed U.S. bitcoin exchange. But the frenzy would be short-lived. Around the time prices were reaching their high, U.S. authorities were exposing what they considered the dark side of bitcoin, busting what the FBI called "a black market bazaar for drugs and illegal services" — an underground web site known as Silk Road. In a case explored in the latest episode of "American Greed," the FBI arrested the site's 29-year-old founder, Ross Ulbricht, who was eventually sentenced to life in prison (he is appealing his conviction). And the government seized more than $30 million worth of Silk Road's currency of choice: bitcoin. Story continues Meanwhile in Japan, the world's largest bitcoin exchange, Mt.Gox, was spiraling into bankruptcy amid allegations it was a conduit for money laundering. Within two months of Ulbricht's arrest, bitcoin lost nearly half its value. The price would continue to decline for more than a year, hitting a low of $203.77 at the beginning of 2015, according to Coinbase. But lately, bitcoin has been rebounding, hitting $757.77 in June. The price has leveled off since then but is still roughly three times its 2015 lows. Santori says an even better indicator of bitcoin's apparent rebound is volume. "After the Silk Road was taken down, we did see a hit in volume," he said. "It confirms that bitcoin was being used on the Silk Road and used in earnest. But volume went back up again, and now it's many, many times what it was back then." Indeed, according to the Luxembourg-based technology firm Blockchain, more than 200,000 bitcoin transactions are taking place daily now, compared with just 90,000 at the peak of the frenzy in 2013. "Digital currency today is so much farther along than it was even back in 2013 when it arguably started to reach its height and peak in sort of mass market popularity," Santori said. But bitcoin still faces challenges — some old, some new. Bitcoin is no longer the only game in town. Other cryptocurrencies have sprung up, most notably ethereum. It expands on bitcoin's blockchain technology, allowing users not only to engage in basic transactions, but also to execute "smart contracts" that automatically enforce themselves. Meanwhile, the law surrounding virtual currencies remains a work in process, with conflicting court rulings about how to define them. "Are they commodities? Are they property? This is going to be a very long road for virtual currencies in general to kind of settle in to a particular legal class," Santori said. Then of course there is the issue of crime. The value of any currency depends in part on its reputation, and in that respect the Silk Road case was a huge setback for bitcoin. But Santori says that is unfair. "Are bitcoins used for crime? Well of course. But so are a lot of other currencies. So are a lot of other technologies," Santori said. Many experts agree that bitcoin is actually less useful to criminals than other currencies, because contrary to popular belief, it is not anonymous. In fact, one of the IRS agents who helped to finally unravel Silk Road says it was bitcoin that ultimately led law enforcement officials to their man. "Back then, criminals are operating under the impression that bitcoin was an untraceable currency and law enforcement wouldn't ever, maybe never, be able to figure this out," Tigran Gambaryan told "American Greed." "Well, when you fast forward it to 2014-2015, that was no longer the case." So will bitcoin and its fellow cryptocurrencies eventually replace all the money in our wallet? Not necessarily. Even some of the most enthusiastic boosters, like Santori, say that contrary to some of the early expectations, it is hard to beat the U.S. dollar. "You can complain all you want about the banks, but the U.S. dollar is strong," he said. "It's a good currency. It's a good store of value. it's a good medium of exchange. It does all the things we want money to do." But he says other countries with less stable currencies could find bitcoin to be a useful alternative — a medium of exchange for them, and a source of investment elsewhere, including in the U.S. And as the technology develops, we may all have to expand our concept of the meaning of money. Follow the amazing global manhunt that finally put an end to the Silk Road on the ALL-NEW season finale of "American Greed," Thursday, Sept. 29 at 10 pm ET/PT only on CNBC Prime. More From CNBC Top News and Analysis Latest News Video Personal Finance || 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) || 500 Million Yahoo Accounts Hacked? What to Do Now: UPDATE: Sept. 22, 3:45 P.M., EASTERN: Yahoo confirmed the report, but the breach turned out to be greater than previously expected. More details here. Yahoo, the web portal popular among fantasy football players and free webmail users, may have been the victim of a data breach affecting about 200 million users (later confirmed to be 500 million users). Rumors of such a breach surfaced last month, and a Recode report posted early today (Sept. 22) indicated that the company would soon confirm the rumors. Two Tom's Guide staffers saw a tacit admission that something may be wrong when they tried to log into their Yahoo Mail accounts this morning. Both received suggestions to change their passwords, even on accounts that had two-factor authentication enabled. Have I Been Pwned? administrator Troy Hunt , who collects credentials exposed in data breaches, reported the same thing. It's still possible that Yahoo was not itself breached, and that the reported 200 million Yahoo accounts were aggregated and sifted from data breaches at other online services, such as those affecting LinkedIn (177 million accounts) and MySpace (360 million accounts). The alleged malicious hacker who first came forward with the details of the Yahoo accounts — said to include usernames, hashed passwords, birth dates and backup email addresses — told VICE Motherboard last month that the Yahoo data is from "2012 most likely." MORE: 10 Worst Data Breaches of All Time Motherboard broke the news Aug. 1 when that hacker, who uses the pseudonym Peace, put the Yahoo data up for sale for 3 Bitcoin (approx. $1,801 US) on The Real Deal online-crime marketplace. Peace earlier this year disclosed the MySpace and LinkedIn data breaches, but it's unlikely that he himself stole that data. The low price he wanted for the Yahoo data indicates that it's probably old, well picked over and no longer worth much to cybercriminals. In August, Yahoo told Motherboard that it was "aware of a claim," but didn't deny a data breach. Peace replied that "they dont [sic] want to confirm well better for me they dont [sic] do password reset." Story continues Peace also claimed to have "been trading the data privately for some time" before deciding to sell it. Users who want to protect their accounts should log in to Yahoo.com immediately and take the option to reset their passwords. Motherboard checked two dozen account credentials supplied by Peace, and discovered that the usernames did correspond to Yahoo accounts. Yahoo apparently protected its user passwords with the MD5 hashing algorithm, for which the first weakness was found in 2005. No company should have been using the algorithm in 2012. Yahoo is currently trying to sell itself to Verizon, and Recode speculated that news of a massive data breach could sent Yahoo stock tumbling, lowering the cost for Verizon. Yahoo users who want to protect their accounts should log in to Yahoo.com immediately and reset their passwords. If Yahoo doesn't prompt you to do so, then visit Yahoo's Set a new password page and change the password manually. Users can also use Yahoo Account Key , which eschews passwords in favor of using the Yahoo mobile app to turn smartphones into authentication devices. As we say every time we report on a massive server breach, never, ever, recycle passwords. If your email address and password have been available on the black market for months, along with a secondary email address, you better not have used those same credentials for online banking or other highly valuable accounts. 12 Computer Security Mistakes You’re Probably Making The Best (and Worst) Identity Theft Protection What to Do If Your Social Security Number Is Stolen Copyright 2016 Toms Guides , a Purch company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. || Venezuelans are turning to bitcoin as the bolívar crumbles: Venezuelan bolivar banknotes and a U.S. dollar banknote folded as boats are seen at a fruit and vegetable store in Caracas Venezuela’s currency has lost so much of its value that people have given up on counting the notes—they just weigh piles of cash . So far this year, the bolívar has lost nearly half its value compared to the dollar, while inflation has shot up as much as 15 times. That’s according to best estimates, since official data isn’t available. It’s brutal: Slack took out a full-page ad in the New York Times to welcome its new competitor, Microsoft When a national currency is tanking as badly as the bolívar, a stateless cryptocurrency that’s gaining in value suddenly sounds pretty appealing. It looks like at least some Venezuelans are turning their bolívar into bitcoins to not only escape the spiral of devaluation in the state-issued, or fiat, currency, but to reap the profits of a bitcoin price that’s been buoyant all year. Trading out of terminally weak or volatile fiat currencies for bitcoin isn’t unique to Venezuela; Argentinians have been doing it for years , as the New York Times (paywall) has reported. Thinking of moving to Canada if Trump wins? Think again Trading volumes on LocalBitcoins —essentially an online classifieds page for bitcoin buyers and sellers to find one another—have spiked in Venezuela. Trading volume has spiked recently to as high as 370 bitcoins a week, worth about $224,000 at the time. In the grand scheme of things, the bolívar-bitcoin trade is minuscule; trillions of dollars change hands on the world’s currency markets daily. It’s also not an easy trade to execute, as a Venezuelan must know her way around bitcoin marketplaces and currency exchanges—Venezuela has one major exchange, called Surbitcoin —to cash out their bolívar. Once a Venezuelan user has bitcoin, however, she could hang onto the cryptocurrency, which might break past its highest point for the year, or hold it in US dollars or other currencies at a wallet service or on an exchange. One service, Xapo, founded by Argentinian entrepreneur Wences Casares, says it’s seeing a number of users in Venezuela “heavily utilizing” its app. Story continues Of course, caveats apply: Bitcoin exchanges and wallets are regularly hacked for billions . Xapo, incidentally, offers a “vault” option that involves air-gapped servers stored in secret underground locations —not the worst way to wait out the bolívar’s downward spiral. Sign up for the Quartz Daily Brief , our free daily newsletter with the world’s most important and interesting news. More stories from Quartz: Steve Jobs’s worst decision was promoting Tim Cook “Design has nothing to do with art”: Design legend Milton Glaser dispels a universal misunderstanding || The Linux Foundation Appoints Three Tech Industry Leaders to Its Board of Directors: SAN FRANCISCO, CA--(Marketwired - November 02, 2016) -The Linux Foundation, the nonprofit organization enabling mass innovation through open source, today announced the appointment of Erica Brescia, co-founder and COO of Bitnami; Jeff Garzik, co-founder of Bloq; and Nithya A. Ruff, director of Western Digital's Open Source Strategy Office, to its Board of Directors. Ms. Ruff and Ms. Brescia join as At-Large Directors, and Mr. Garzik comes on board as the representative of Linux Foundation Silver members. Ms. Brescia and Ms. Ruff will take the place of Larry Augustin and Bdale Garbee as At-Large Directors. Mr. Garzik replaces Matt Jones of Jaguar Land Rover. "The Board of Directors and the entire Linux Foundation organization are delighted to welcome Nithya, Erica and Jeff," said Jim Zemlin, executive director. "They will help guide the strategy of The Linux Foundation, the home to some of the most successful open source projects and largest shared technology investment in history. The open source community at large and our nearly 800 members will benefit from the insight and expertise each of these individuals brings. We thank Larry, Bdale and Matt for their long and faithful service on the Board and look forward to their continued participation in the community." New Directors Bring Diversity of Perspectives Erica Brescia Ms. Brescia is the co-founder and chief operating officer of Bitnami. With more than one million deployments per month, Bitnami provides the largest source of applications and development environments to the world's leading cloud service providers, such as Amazon AWS, Microsoft Azure, Google Compute Platform and Oracle Cloud Platform. Prior to co-founding Bitnami, Ms. Brescia held various sales and management positions at T-Mobile, as well as working as a consultant with Chekiang First Bank in Hong Kong. She holds a B.S. in business administration from the University of Southern California. Ms. Brescia has been a dedicated builder of diverse, globally distributed technology and business teams, and has been featured as a keynote speaker at OpenStack Summit and OSCON. To further those goals, Bitnami founded the Bitnami Bootcamp, which provides free education and training on cloud, open source and containers, for recent college graduates and self-taught technologists living in southern Spain. As a YC Founder, Ms. Brescia is also an active mentor of aspiring entrepreneurs in the technology and related industries, as well as being an angel investor in a number of early stage startups. "Open source technologies make possible the incredibly rapid innovation that we see in tech-driven sectors today," Ms. Brescia commented. "Shared R&D in the form of open source helps companies like Bitnami thrive, while creating value for others. I'm proud to be a part of the organization that's propelling that collaboration." Jeff Garzik Mr. Garzik has long been at the center of developing and commercializing open source software surrounding bitcoin and blockchain. Before co-founding Bloq to develop enterprise-grade blockchain solutions, he spent five years as a Bitcoin core developer, and 10 years at Red Hat. His work with the Linux kernel is now found in every Android phone and data center running Linux today. Mr. Garzik serves on the board of Coin Center and the advisory boards of BitPay, Chain, Netki and WayPaver Labs. He was also recently appointed to the World Economic Forum Expert Network as an expert in Information Technology. "I'm excited to bring Bloq's expertise in developing blockchain software to The Linux Foundation," Mr. Garzik said. "Projects like Hyperledger are emblematic of the future of open source: bringing together the efforts of developers to fundamentally alter global finance, digital identity and beyond." Nithya Ruff Ms. Ruff first glimpsed the power of open source while at SGI in the 1990s and has been building bridges between hardware developers and the open source community ever since. She's also held leadership positions at Wind River (an Intel Company), Synopsys, Avaya, Tripwire and Eastman Kodak. Ms. Ruff has been a passionate advocate and a speaker for opening doors to new people in open source for many years. She has also been a promoter of valuing diverse ways of contributing to open source, such as in marketing, legal and community. She is co-leader of the Women of OpenStack group and a liaison into the OpenStack Foundation, as well as a sponsor of the Women in Open Source (WIOS) Lunch at Linux Foundation events and an active leader of WIOS advocating for reducing barriers for women and underrepresented minorities. In 2015, Ms. Ruff was invited by Red Hat to be on a diversity leaders' panel at the "All Things Open" conference. In recognition of her work in open source both on the business and community side, Ms. Ruff was named toCIOmagazine's most influential women in open source list. Ms. Ruff was also the founding president of the Women's Innovation Network at Western Digital, which is dedicated to the development of women's highest potential in the workplace. Ms. Ruff said: "I've been fortunate to work in an environment at Western Digital that values the contributions of every individual and that encourages diversity in open source communities. Through its training, events and now projects, The Linux Foundation is working to create an inclusive open source culture that stretches across organizations. I anticipate being able to help deepen that work as more industry professionals of all backgrounds get involved in open source." About The Linux Foundation The Linux Foundation is the organization of choice for the world's top developers and companies to build ecosystems that accelerate open technology development and commercial adoption. Together with the worldwide open source community, it is solving the hardest technology problems by creating the largest shared technology investment in history. Founded in 2000, The Linux Foundation today provides tools, training and events to scale any open source project, which together deliver an economic impact not achievable by any one company. More information can be found atwww.linuxfoundation.org. The Linux Foundation has registered trademarks and uses trademarks. For a list of trademarks of The Linux Foundation, please see our trademark usage page:https://www.linuxfoundation.org/trademark-usage. Linux is a registered trademark of Linus Torvalds. || John McAfee's MGT receives SEC subpoena, shares slump: By Noel Randewich and Jim Finkle (Reuters) - Shares in a firm led by anti-virus software pioneer John McAfee fell 24 percent on Monday after it disclosed that it had received a subpoena from the U.S. Securities and Exchange Commission. The company, MGT Capital Investments Inc (MGT.A), said in a statement that it was cooperating with the SEC after receiving the subpoena on Thursday and that it does not believe it is or will be subject to any enforcement proceedings. In May of this year, shares in MGT surged more than 1,200 percent after the mobile gaming company said McAfee would become its chief executive. It said it would enter the fast-growing cyber-security market through acquisitions. MGT shares fell 97 cents to $2.47 in late-afternoon trade, trimming its market capitalization to about $64 million. An SEC spokesman declined to say why it subpoenaed MGT and what information it wanted. An MGT spokesman also declined to comment. With McAfee at the helm, MGT has said it plans to acquire security technologies to address threats to mobile and personal devices. McAfee was the subject of a media frenzy in 2012 when he fled his home in Belize after police sought to question him about the murder of a neighbor. They ultimately said he was not a suspect. Chipmaker Intel (INTC.O), which bought McAfee Inc for $7.7 billion in 2010, long after its founder had left the company, said recently that it would spin off the unit. McAfee and MGT recently sued Intel for the right to use the McAfee name. McAfee said during a conference call on Thursday that he expected MGT to begin generating revenue in the second quarter of next year after launching its first product at the end of 2016. He declined several requests from callers to provide financial projections. "I really can't say now about future revenue streams, but I certainly tell you that what we are doing and what we are building is going to be monumental," McAfee said in response to one of the questions, from a man identified as an individual investor. Story continues "Good enough for me, man. Good enough," the man replied. MGT also said it launched a Bitcoin mining operation, which involves using customized computers to earn Bitcoins in return for recording and verifying transactions in the crypto-currency. (Reporting by Noel Randewich and Jim Finkle; Editing by Dan Grebler) [Random Sample of Social Media Buzz (last 60 days)] New post: "When will we get an incident report from Bitfinex?" http://ift.tt/2e8LpQf  || $661.88 #bitstamp; $666.04 #bitfinex; $661.99 #itBit; $665.00 #btce; $658.42 #GDAX; $658.99 #OKCoin; #bitcoin news: http://bit.ly/1VI6Yse  || 1 KOBO = 0.00000384 BTC = 0.0023 USD = 0.6992 NGN = 0.0328 ZAR = 0.2328 KES #Kobocoin 2016-09-18 04:00 pic.twitter.com/Y1HBIzGPxV || 1 #BTC (#Bitcoin) quotes: $603.20/$603.77 #Bitstamp $604.00/$604.29 #BTCe ⇢$0.23/$1.09 $602.83/$609.03 #Coinbase ⇢$-0.94/$5.83 || 1 BTC Price: BTC-e 603.948 USD Bitstamp 605.00 USD Coinbase 606.42 USD #btc #bitcoin 2016-09-30 12:30 pic.twitter.com/keyGfXgyTK || Invest one time only 0.02 BTC & Earn 2,00,000 BTC in one month. https://www.bitcoin4u.biz/BitLazuritCoin  эзшрш || 1 #bitcoin = $13598.00 MXN | $720.65 USD #BitAPeso 1 USD = 18.87MXN http://www.bitapeso.com  || 1 KOBO = 0.00000251 BTC = 0.0015 USD = 0.4564 NGN = 0.0209 ZAR = 0.1517 KES #Kobocoin 2016-10-07 04:00 pic.twitter.com/NiRrJDBfzz || 現在の価格は 61830円(http://blockchain.info )です。前回比は0円(0.00%)です。http://konvert.in/currency/1-bitcoin-to-japanese-yen … #ビットコイン #bitcoin via @konvertin || 1 KOBO = 0.00000409 BTC = 0.0026 USD = 0.7911 NGN = 0.0371 ZAR = 0.2631 KES #Kobocoin 2016-10-13 12:00 pic.twitter.com/fnr7qPNW4w
Trend: up || Prices: 715.53, 716.41, 705.05, 702.03, 705.02, 711.62, 744.20, 740.98, 751.59, 751.62
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 2019-03-01] BTC Price: 3859.58, BTC RSI: 54.64 Gold Price: 1296.40, Gold RSI: 41.82 Oil Price: 55.80, Oil RSI: 55.34 [Random Sample of News (last 60 days)] Blockchain, DLTs, and a Lot of Crypto-Bashing: Main Takeaways From Davos WEF: This year’s World Economic Forum ( WEF ) Annual Meeting has finished, and it’s time to recap the highlights. The forum — held in Davos, Switzerland , as per tradition — lasted from Jan. 22 to 25. Similar to the last year, cryptocurrencies were one of the major talking points in Davos. In general, it seems that the “Blockchain before Bitcoin” attitude prevailed this time, as the overall positive outlook on the technology coincided with a significant portion of crypto-bashing. WEF announced Global Council on Blockchain, co-chaired by BitPesa founder As one of the most important takeaways from the forum, the WEF appointed the CEO and founder of BitPesa, Elizabeth Rossiello, to serve as one of two co-chairs of the Global Council on Blockchain. BitPesa is a Kenya-headquartered startup with the focus on blockchain-powered fiat remittances among the United Kingdom , Kenya and several other African and European countries. The firm was allegedly the first blockchain company to be licensed by the U.K.'s Financial Conduct Authority (FCA), as per a press release from the company. The newly established Blockchain Council, in turn, is part of the San Francisco-based Fourth Industrial Revolution and Cybersecurity Center created by the WEF in 2017. The forum has notably recognized blockchain’s major role in the Fourth Industrial Revolution as early as 2016, naming it a “World Economic Forum Technology Pioneer” alongside the likes of Google and Wikimedia, which have received the award in the past. At the latest WEF Annual Meeting in Davos, Rossiello reportedly worked with industry experts and the council’s thirty members — including representatives of regulatory agencies, as well as the civil and fintech spheres — to outline the council’s agenda and main priorities. Later, in May 2019, the council will hold its convention in San Francisco, where it will commence its formal advisory role to the WEF. Its mission seems quite ambitious, given Rossiello’s statement that “2019 will be a critical year for the blockchain industry.” Story continues Sheila Warren, head of blockchain at the WEF, said that Rossiello was chosen for the role of the council’s co-chair “not only for her diverse background in this space, from technical expertise as well as regulatory, but also for her ability to bring together members of this often fragmented ecosystem.” Additionally, Warren gave an interview to ConsenSys at the event, in which she argued that adoption could be neared if blockchain gets picked up by governments: “Whether we like it or not, governments are some of the most successful distribution platforms. If we can find a way to use government to actually deploy and use blockchain technology, we’re going to move a long way towards adoption.” Warren highlighted that Asian countries like Singapore , Japan , China and India might be the most important players to push blockchain integration in the near future. Global Blockchain Business Council reported that 40 percent of institutional investors are really bullish about blockchain The trade association titled the Global Blockchain Business Council (GBBC) presented some evidence regarding investors’ interest in blockchain at the WEF meeting. As much as 40 percent of institutional investors believe blockchain may be the most important innovation since the internet , according to the association’s survey. GBBC reportedly interviewed 71 investors over two last months to gather data for the survey, 40 percent of whom agreed that blockchain could be the “most transformative” tech since the internet. Additionally, just under a third of the respondents believed businesses would need to find a head of blockchain on their boards within the next five years. Further, 38 percent of the interviewed investors considered that firms would need to present their blockchain-related roadmaps within that time frame. “There is little doubt about the potential impact blockchain can have on most sectors, and key areas of everyday life,” GBBC CEO Sandra Ro commented at the WEF: “Increasingly, the winning organisations of the future will be those that have a clear and comprehensive strategy for blockchain [...].” Circle CEO Jeremy Allaire stood up for crypto Jeremy Allaire, CEO and co-founder of Goldman Sachs -backed crypto finance company Circle , who was a panelist at the “ Building a Sustainable Crypto-Architecture ” talk, countered the obligatory crypto mongering (which will be detailed further below) by arguing that virtual currencies will be essential for surviving the digital age due to their decentralized nature: “Crypto is fundamental to the future. [...] We need tamper-proof, resilient, decentralized infrastructure if we want society to survive the digital age.” Allaire also commented on the stigma attached to cryptocurrencies. “People throw around ‘crypto’ like it’s a bad thing — it’s scary,” he said. “Guess what? Cryptography is at the foundation of protecting modern society, human privacy. It’s a fundamental tool of our cyber defenses. It’s a fundamental tool of every corporation.” Furthermore, Circle’s CEO claimed that crypto can go hand in hand with centralized, conventional institutions like central banks. Allaire referenced Circle’s stablecoin , which it co-launched with Coinbase in October, to support his argument: “We’re huge proponents of central bank digital currency and we believed in that for a very long time. [...] Our view is that the creation of cryptocurrencies that are based on central bank money is happening in the private sector first. We launched USD Coin last fall. It’s growing rapidly.” Jamie Dimon refused to take a victory lap after Bitcoin’s fall, appeared positive about blockchain JPMorgan Chase CEO Jamie Dimon , who famously said that he doesn’t “really give a s---” about Bitcoin ( BTC ) in the past, was asked if he took any satisfaction when the cryptocurrency plunged in 2018. Dimon replied that he didn’t. Moreover, the JPMorgan Chase CEO noted that he is pro-blockchain, despite the excessive hype around the technology. In his view, blockchain is a better replacement for certain online databases. “Blockchain is a real technology — it’s just a database we can all access that’s kept up-to-date,” Dimon told CNBC at the meeting. Indeed, the American investment bank has a history with blockchain. In October 2017, JPMorgan Chase announced its own blockchain-enabled system for global payments that will “significantly reduce” the number of parties involved in the transaction chain, hence reducing remittance time “from weeks to hours.” Further, in May 2018, the bank filed a patent for a peer-to-peer payment network based on blockchain. In October 2018, the research group ResearchAndMarkets.com (RM) published a study claiming that blockchain is a key technology for JPMorgan Chase’s development roadmap to become a major digital bank. ‘Dr. Doom,’ PayPal CEO, and others slammed crypto Other industry representatives appeared less collected in their remarks about crypto. Perhaps the harshest of them was New York-based economist Nouriel Roubini also known as “ Dr. Doom ,” who introduced himself as the “number one public critic of cryptocurrencies and blockchain” during a panel hosted by crypto exchange LaToken. The economist started off by referencing his testimony for a hearing of the United States Senate Committee on Banking, Housing and Community Affairs, which was released in October 2018. In it, he claimed that blockchain is “no better than an Excel spreadsheet,” a remark he recalled as being “provocative” during his speech at the WEF forum. In the paper, Roubini also called crypto “the mother of all scams and bubbles” and blockchain “the most over-hyped technology ever.” Further, speaking during the panel, Dr. Doom criticized the use of private distributed ledger technology (DLT), stressing that they are neither trustless nor decentralized and are falsely marketed as blockchains. He also pointed out that central bank digital currencies (CBDCs) don’t have anything to do with either blockchain or crypto. Nouriel also harshly criticized what he described as the “tokenization of everything,” explaining that having a token for everything essentially implies going back to bartering. He also pointed out how the characters in the Flintstones cartoon, which is set in the Stone Age, have seashells for a single currency, arguing that tokenization is worse than that. PayPal CEO Dan Schulman also criticized Bitcoin, focusing on its limited use for retail purposes and scarce merchant adoption. However, he recognized the potential of blockchain. “We’re not seeing many retailers at all accept any of the cryptocurrencies. But I think the underlying technology is interesting,” Schulman argued during an interview with CNBC. He then carried on to stress the technology’s importance over the digital assets it supports: “I have always thought that crypto was more of a reward mechanism for implementing blockchain, as opposed to really a currency.” Schulman has expressed his skepticism about cryptocurrencies in the past. Specifically, in January 2018, he said that PayPal’s mobile payment service, Venmo, has no plans for crypto due to its volatility: “The volatility of the cryptocurrency [Bitcoin] makes it actually unsuitable to be a real currency that retailers can accept.” Another WEF attendee, Huw van Steenis, who is the senior adviser to Bank of England governor Mark Carney, told Bloomberg that he is not worried about cryptocurrencies, curiously naming their speed as one of the main shortcomings: “I’m not so worried about cryptocurrencies. They fail the basic tests of financial services. They’re not a great unit of exchange. They don’t hold value, and they’re slower.” Ripple’s CEO subtly called out Joseph Lubin on centralization The panel dubbed “ Where is Blockchain Headed in 2019? ” saw both Ripple CEO Brad Garlinghouse and Joseph Lubin , a co-founder of Ethereum ( ETH ) and founder of the blockchain company ConsenSys , featured in the expert panel. While the discussing was overall tranquil, at one point, a light contention occured. When the panel host, Robert Hackett of Fortune magazine, asked Lubin to elaborate on how he manages ConsenSys’ and his personal treasuries, Lubin replied that there would be no comment from him, adding that the assumption that he is one of the biggest ETH holders is “based on no data.” At that point, Garlinghouse stepped in, claiming that Ripple is “attacked for being transparent,” referring to quarterly XRP markets report, the latest of which was presented soon after the talk: “Because we share them [market reports] we’re attacked for it, yet other platforms don’t share that information, so they’re insulated from the same critiques and criticisms. I think in the dictionary that’s called ‘hypocrisy.’ I’m not 100% sure, but it’s close”. The moderator then asked whether ConsenSys has plans for greater transparency, to which Lubin replied that they’re a private company, and he has not considered releasing information about its operating costs. “Ripple is a private company, too,” Garlinghouse interjected. Blockchain’s potential for the health care industry was highlighted One of the panels centering on blockchain was dedicated to the health care industry specifically. Titled “ Blockchain in Healthcare Insurance and Beyond ,” it featured Lata Varghese, the head of blockchain at the U.S. IT corporation Cognizant, and Zia Zaman, the chief of innovations Asia at global insurance provider Metlife, as experts. The talk’s moderator asked to focus on real-life use cases for blockchain, aiming to “cut through the hype.” The panelists mentioned Vitana , a blockchain-powered insurance solution for diabetes sufferers developed by Singapore-based digital innovation center Lumenlab, as one of the examples. Additionally, the talk covered other benefits that blockchain can bring into the health care insurance industry , like speeding up insurance claim payments and better access to patients’ records. Hong Kong regulator sheds more light on the Bitmain’s IPO The head of the Hong Kong Stock Exchange (HKEX) addressed queries about initial public offering ( IPO ) listings amid confusion over Chinese Bitcoin mining giant Bitmain’s application while speaking at the forum. Bitmain made the majority of its revenue from mining hardware sales in the first half of last year. In May 2018, it announced plans to turn toward the area of artificial intelligence , citing the Chinese crackdown on the crypto industry . The company had planned to conduct an IPO in Hong Kong throughout the second half of 2018. However, after financial performance figures suggested the company was in trouble, rumors began surfacing that the local regulator was hesitant to grant a cryptocurrency IPO. At the WEF forum, HKEX CEO Charles Li Xiaojia said that it was important that IPO candidates are consistent about their business offerings. “If a company made billions of US dollars through Business A, but suddenly said it will do Business B without showing any performance, or said Business B is better, then I don’t think the Business A featured in their application will be sustainable,” English-language newspaper South China Morning Post (SCMP) quoted him as saying. Xiaojia continued: “Besides, if regulators were hands off [on Business A] in the past but will regulate it in the future, will you be able to continue the business and still make money from it?” However, Xiaojia did not directly mention Bitmain, although the journalists had referred to the company by name when asking for clarification. Related Articles: Swiss University ZHAW and Telecoms Firm Swisscom Develop E-Signature for Smart Contracts ETH Co-Founder Gavin Wood’s Blockchain Protocol Plans $60 Million Second Token Sale: WSJ WEF Appoints BitPesa Founder as Co-Chair of Global Council on Blockchain Ripple and Major Beijing University Launch Blockchain Research Scholarship || Crude Oil Weekly Price Forecast – crude oil markets bounce for the week: WTI Crude Oil The WTI Crude Oil market bounced during the week but ran into trouble at the downtrend line that you see marked on the chart. Beyond that, we have the $50 level above that could probably cause quite a bit of resistance, so don’t be surprised at all if we get a pullback from here. If we can break above the $50 level, the market could go to higher levels, perhaps as high as $55 where we would see even more resistance. Because of this, I anticipate that we probably will get a little bit of a pullback, but we clearly have an area that if we break above, that would be a bullish turn of events. Crude Oil Inventories Video 07.01.19 Brent Brent markets rallied as well, breaking into a downtrend line, but giving back some of the gains. Because of this, I think that the market will probably continue to struggle at the $60 handle as well, so I think what we are looking at is a short-term pullback. The question is whether or not the previous weekly candle at the $50 level and bouncing was a sign that we are trying to form a base? This is certainly something worth paying attention to, but right now I do not trust the move higher until we clear $60 on at least a daily time frame. I think that short-term pullbacks could be buying opportunities for those who are willing to put a stop loss just below the $50 level. However, if $50 gets broken to the downside, this market will go much lower. In This article was originally posted on FX Empire More From FXEMPIRE: EUR/USD Weekly Price Forecast – EUR struggles for the week USD/JPY Weekly Price Forecast – US dollar has wild ride against the Yen GBP/JPY Weekly Price Forecast – British pound breaks down during the week only to rebound again Silver Weekly Price Forecast – Silver markets hit resistance during the week Bitcoin – Resistance at $4,000 could be the Bulls’ Undoing Crude Oil Weekly Price Forecast – crude oil markets bounce for the week || Bitcoin Price Analysis: Strong Rally Set to Test Overhanging Resistance: Shortly after the London Open, the entire crypto market saw a strong round of buying. Some coins broke their highest volume seen since the beginning of the bear market, and several others broke straight through overhanging resistance levels. Bitcoin, too, enjoyed a nice rally, rising almost 11% in just a few short hours: Figure 1: BTC-USD, 4-Hour Candles, Early Morning Rally This rally was very strong and sudden, running the stops of many late shorters in the crypto market. Zooming out to the daily view, we can see just how strong the move was as it nearly tripled the previous day’s trade volume on very high spread: Figure 2: BTC-USD, Daily Candles, Daily Volume and Spread Although the daily candle has yet to close, it looks pretty promising for the bulls. The market is currently in the process of testing overhanging resistance and is currently testing the strength of both the bulls and bears. Even though the move was strong, it should be noted that we are still trending downward as we continue to make lower highs and lower lows on the daily trend. That’s not to say the trend won’t be broken, but it should be a matter of consideration as we take an objective view of the current market structure. As the price continues to rally, the outlined resistance levels will serve as great milestones to judge the health of the bullish pressure. If we can close the two resistance levels, it seems entirely likely we will see a retest of the overhanging resistance in the low $4,000s: Figure 3: BTC-USD, Daily Candles, Important Zone for Changing Market Structure Looming just above the outlined zone in blue is a very important and potentially market-structure changing zone, outlined in red in the figure above. The market has been unable to close above this level for months and has been continuously pushed down with every attempt to rally into the region. If we can see a close inside the red zone, we can anticipate strong buyer interest as this represents a change in the market behavior. This will be a very important level to watch as we continue to see upward momentum push this rally further. Again, it should be noted that we have yet to close the current daily candle above overhanging resistance, but given the spread and volume behind the current move, it seems logical the market is good for a bit of a continuation before the bulls lose steam. The outlined resistance levels in Figure 3 will serve as points of interest in the coming days in order to judge the health of the current market. It’s important to wait for the daily close as the market is known for massive slippage due to relatively low liquidity on some exchanges. 1. Shortly after the London Open, the entire crypto market rallied on very high volume with relative ease compared to the previous weeks of attempted rallying. 2. Several coins have seen record-setting volume for the current bear market, while others have blown straight through their prior resistance levels. 3. Bitcoin is currently in the process of testing its overhanging resistance as the current daily candle has yet to close. There are major resistance levels to consider when viewing the health of the market, but given the strength of the current move, it seems likely we will see a continuation of the uptrend before bears begin to test their hand against the bulls. Trading and investing in digital assets like bitcoin is highly speculative and comes with many risks. This analysis is for informational purposes and should not be considered investment advice. Statements and financial information on Bitcoin Magazine and BTC Media related sites do not necessarily reflect the opinion of BTC Media and should not be construed as an endorsement or recommendation to buy, sell or hold. Past performance is not necessarily indicative of future results. This article originally appeared onBitcoin Magazine. || Jack Dorsey Says Cash App Support for Lightning Network a Question of ‘When, Not If’: Twitter co-founder and CEO Jack Dorsey — also the founder and CEO of United States -based Bitcoin ( BTC )-supporting payments service Square — said that rolling out the Lightning Network on Square’s Cash App is a question of “when, not if.” Dorsey made his remarks during an interview alongside Elizabeth Stark , co-founder of Lightning Labs, on the Stephen Livera podcast Feb. 11. The Lightning Network (LN) is a second-layer solution to Bitcoin’s scalability limitations , which works by opening payment channels between users that keep the majority of transactions off-chain. In response to a question regarding possible LN support on the popular Cash App — which became the number one downloaded finance app on Google Play this December — Dorsey said: “We have a massive seller network of businesses [of different sizes] [...] We would love to make [Bitcoin payments] as fast and efficient and transactional as possible and that includes looking at our seller base and our register. It’s not an ‘if,’ it’s a ‘when.’” Dorsey, who is well known for his conviction that Bitcoin will become the “native currency of the internet,” spoke during the podcast of his early fascination with the cypherpunk movement and his encounter with the “amazing, simple, beautiful” Bitcoin white paper in 2013, when Square was still in its early days. Notwithstanding the “negative lens” that has filtered much of the awareness around Bitcoin, Dorsey said its spectacular brand traction and congruity with the internet’s core ideals have forged a unique resilience and lasting power for the coin. He set it apart from other cryptos, arguing that: “It feels it’s the one that wants to be currency the most, versus others that are doing more general purpose things or distributed computing [...] I think [the altcoin space] has generated some really amazing ideas, but I’m focused on currency and the transactional aspect.” Story continues In November 2018, Square reported it had generated $43 million in Bitcoin revenue for Q3 2018, up from $37 million the preceding quarter. That same month, the company’s market cap surpassed that of Twitter. Just last week, Dorsey took part in a community project demonstrating the functionality of LN, dubbed  the “Lightning Torch.” The initiative entailed a series of transactions relayed between LN users, with each participant adding a nominal sum (10,000 satoshis, or ~$0.34) and passing it on to someone else they trust. Last month, the Lightning Network passed a milestone capacity of $2 million and has a capacity of 656 BTC (about $2.39 million) at press time . Related Articles: Bitcoin Community Celebrates as Twitter CEO Joins Lightning Network Relay Twitter CEO Jack Dorsey Still Believes Bitcoin Will Be Internet’s Currency Argentina’s State Public Transport Card SUBE Accepts Bitcoin Twitter CEO Jack Dorsey Says Bitcoin Is the Only Crypto He Holds || HTC's Exodus smartphone is about much more than Bitcoin: 'A blockchain phone? But why?' That was my first reaction when I read about the HTC Exodus last year. It felt like a wild, foolish bet from a company that's struggling for sales and relevancy in the mobile space. But then I spoke with Phil Chen, the company's "Decentralized Chief Officer." I'm still skeptical of the product's commercial viability, but I have a better idea of what the Taiwanese manufacturer is trying to achieve. It might sound silly and ill-conceived, but HTC genuinely wants to improve society with this phone. HTC Exodus Chen joined HTC in September 2007. He was a product manager when the company launched the HTC Dream -- the first commercial Android phone -- 12 months later. During our interview at Mobile World Congress, he proudly pulled one out of his pocket. "What happened was... this movement became hijacked into owning people's data," he explained. "But we had no part in that." That hijacking, I assume, refers to Google and every other company that has built a business on collecting and harvesting customer data. Chen left HTC in 2014 and created his own venture capital firm called Presence . He then joined "a much bigger fund" called Horizons Ventures which was investing in early blockchain companies such as Blockstream. To understand the technology and which companies were offering more than digital snake oil, he watched "hundreds of hours" of Andreas Antonopoulos , a popular Bitcoin expert on YouTube. "They are the biggest brothers of all time." Horizons had invested in DeepMind and Siri prior to Chen's hiring. The fund was performing well but he became "quite cynical" as the company effectively fueled Silicon Valley giants such as Apple and Google. Chen soon realized that it was the data, rather than the algorithms and underlying technology, that separated these behemoths from smaller AI startups. "They are the biggest brothers of all time," Chen told Engadget, "in this whole surveillance capitalism." Story continues Autonomous driving, robotics, artificial intelligence -- these giants were moving quickly to ensure they were at the forefront of each new technology. The only ones they hadn't touched yet were blockchain and emerging cryptocurrencies. HTC Exodus Chen wanted people to have more control over their data and online identity. When you sign into a service like Facebook, one of its servers has to authenticate you, he explained. But what if you, as a consumer and user of the internet, were the one authenticating services and servers? "[I'm] trying to flip that on its head," he said." "Because if you own the private keys and you own your digital identity, you as a client can authenticate and deactivate servers." he said. "So instead of our servers authenticating you, you own your private keys to authenticate." Toward the end of 2017, Chen had an idea: a phone that could hold a person's private keys and, by extension, give them the power to use and disable services this way. He reached out to HTC and persuaded some high-level executives to assemble a small team and start building prototypes. "I seeded [the idea]," he said. "My intention was to be an advisor." "My intention was to be an advisor." Chen was comfortable working in venture capital. HTC, meanwhile, was struggling to find its place beyond bleeding-edge virtual reality hardware. But he soon realized that it was critical that HTC followed through on the project. There were smaller blockchain phone projects but they "missed the point" or didn't have the resources to make an impact on the mobile market. Most of the bigger players, meanwhile, would never try it because the entire concept went against their business model of harvesting user data. HTC was unique. The company was in bad shape and, therefore, willing to take risks. But it also had the talent, experience and supply chain knowhow to operate as a giant. "It still had its roots in being able to build incredible hardware," he said. "And so I saw that as a great foundation for me to build a great software stack on top of that." Phil Chen The HTC Exodus is being marketed as a phone for cryptocurrency enthusiasts. It has a "secure enclave" that's separate from the operating system and can store private keys. But that's only part of it. Chen says the phone is actually a "trojan horse" for "re-architecting the internet." Once consumers are familiar with its cryptocurrency capabilities, they'll be open to the concept of securely holding and controlling their personal data. At first, Chen had a "moonshot idea" that would turn each phone into a blockchain node. "Because today, there's what, about 15,000 nodes for Bitcoin, maybe 17,000 nodes for Ethereum? And I believed, and I still believe this but we haven't solved this problem yet, that one day we can build a blockchain that empowers one person to be a node per phone," he said. That concept, though, would require each phone to do some serious computation. It's technically possible but realistically impractical with current mobile hardware. Persuading HTC to follow through and actually release the Exodus wasn't simple. The conversation was, "Hey, this is where the world is heading to. It's heading towards pure big brother tyranny,'" Chen said. "if you believe data is the new oil, these companies that are top 10 right now, they'll be top 10 for the next hundred years." If the industry doesn't take action now, the top seven or eight companies will rule the world for a long, long time. "If you think data is the new digital oil," Chen said, "the oil companies dominated the industry for a hundred years, right? And if you believe data is the new oil, these companies that are top 10 right now, they'll be top 10 for the next hundred years. And they'll be even more powerful and more controlling than the oil companies of the past." For HTC, then, a so-called "decentralized internet" is crucial for its survival. If the company ignores the problem and pumps out beautiful but otherwise typical Android phones, it will sleepwalk into a world where its destiny is controlled by other, larger and more powerful companies. HTC Exodus Persuading customers to adopt this "Web 3.0" thinking, though, will be tough. HTC is trying to accelerate the process through partnerships with Opera , a browser that offers a built-in cryptocurrency wallet, and decentralized "DApps." At Mobile World Congress, the company announced that the Exodus 1 now works with Blockfolio, a cryptocurrency portfolio tracker, Nodle, a controller for connected "Internet of Things" and Numbers, a service that gives you complete control over how your health data is sold to other companies. Cryptocurrency enthusiasts are wary, though. What happens if you lose the phone? And won't its transparent cover draw attention to the fact that you have private keys on your phone? Both are valid concerns. And in short, it's on you to keep the device safe. HTC doesn't keep a copy of your keys -- that would defeat the whole purpose of the phone -- but offers a recovery process that involves splitting your crypto wallet amongst three to five trusted people. It's true that someone could theoretically rob you and find a way to break into the secure enclave. Chen believes that scenario is unlikely, however. A hacker, he argues, is more likely to spend his time and energy targeting a centralized server that hosts a million private keys. "We're fundamentally more secure by the way it's architected," he said. "That's not saying that, you know, we're completely bulletproof. But by design [the system] is more distributed. One hack, one key." HTC Exodus I understand Chen's desire to "decentralize" the internet. Using cryptocurrency as the gateway drug for this digital revolution seems risky, though. Public interest in so-called "digital gold" has mellowed since the the Bitcoin bubble of late 2017. There's still a passionate, growing community around blockchain, but it's fallen out of the mainstream press and back into a niche movement. Are there enough people that both own cryptocurrency and want to own an Exodus smartphone? I'm not sure. "It really needs to be a people's movement." It's also unclear how many citizens feel the same way as Chen and want to move over to this unshackled version of digital citizenship. There's a small, but growing backlash toward large technology companies like Amazon. But will those people take the next step and start owning private keys? "In my mind it absolutely will happen," he said, "but obviously if it's us [HTC] alone it's not gonna happen. We need to partner with people coming into the industry, as well as the Bitcoin community, the Ethereum community and the "Web 3.0" community. It really needs to be a people's movement." The question, then, is whether HTC will still be in business if and when its version of the internet materializes. || ShapeShift Presents Six-Episode Show Dedicated to Crypto Enthusiasts: Switzerland -based crypto exchange ShapeShift announced the launch of a six-episode show, dubbed “Down the Rabbit Hole,” which is dedicated to crypto enthusiasts. The exchange posted a trailer for the film on its Twitter page on Feb. 26. Company’s official Twitter account, @ShapeShift_io , has posted six previews with a brief summary of each episode. The first one, “The Technologist,” is dedicated to Zooko Wilcox, CEO of Zcash . The entrepreneur talks about his path in crypto, the privacy issues and the advantages of cryptography . “The Humanitarian” interviews Nyla Rodgers, CEO & Founder at Mama Hope and Satoshi is Female. Rodgers shares her stance on the use of cryptocurrencies for the unbanked, along with funding social projects with crypto. The third episode, “The Innovator,” is about Diego Gutiérrez Zaldívar, CEO of RSKLabs — an open-source smart contract platform that claims to create decentralized apps to empower people and improve their life quality. “The Venture Capitalist” tells the story of Meltem Demirors , Chief Strategy Officer of cryptocurrency investment products and research provider CoinShares. The fifth episode, “The Musician” follows Tatiana Moroz, who created an “artist coin” dubbed Tatiana Coin and wrote a jingle for Bitcoin . Moroz told filmmakers about the ideas behind her music and her contributors. The last episode is dedicated to Erik Voorhees, who founded Shapeshift back in 2013. In his segment, Vorhees focuses on the social impact of blockchain. According to a recent tweet by Voorhees, the new video series is part of Shapeshift’s plan to rebrand and reimagine its services in 2019 shortly after it laid off a third of its team due to crashing prices and the ensuing Crypto Winter. Earlier in February the company announced a beta version of what was called “new Shapeshift,” giving limited access to its new features. According to Voorhees, the firm is developing a non-custodial crypto platform in an easy package. Related Articles: Swiss Crypto Bank Warns Customers About Company Masquerading as Partner Swiss Banking Giant Julius Baer to Offer Its Clients Crypto Asset Services Hong Kong Entrepreneur Who ‘Made It Rain’ from High-Rise Arrested for Crypto Mining Fraud New York Times: Facebook Reportedly Shopping ‘Facebook Coin’ to Crypto Exchanges || AT Capital Markets launches CFDs on four top cryptocurrencies: UK-based multi-regulated FX brokerage firm AT Capital Markets (ATFX) has launched contracts for differences (CFDs) on four major cryptocurrencies including Bitcoin and Ethereum, according to reports . The new financial instrument will allow users to take both long and short positions on BTC, ETH, LTC, and XRP CFDs. All contracts will be traded against the US dollar and will be available to trade 24 hours a day, five days a week. The move by the brokerage platform comes one day after the London Stock Exchange Group invested in the world’s first cryptocurrency bond , which reinforces the notion that institutions are becoming more open to the digital asset class. BREAKING: London stock exchange invests in world’s first cryptocurrency bond By Oliver Knight – February 28, 2019 “The advantages of trading cryptocurrency CFDs don’t end there,” Marcos Tigsilema, Commercial Director of ATFX (UK) explained. “It is a cost effective way to trade both rising and falling cryptocurrency markets. Funds can be deposited and withdrawn with ease, avoiding the risks of purchasing cryptocurrencies directly through an exchange and not having to worry about your cryptocurrency being lost, stolen, or hacked.” ATFX has become the latest in a long list of brokerage firms to offer cryptocurrency CFDs, with the likes of Plus500, eToro, and ICM Capital all offering digital asset products. For more news, guides, and cryptocurrency analysis, click here . The post AT Capital Markets launches CFDs on four top cryptocurrencies appeared first on Coin Rivet . || UnionBank Launches Two-Way Bitcoin ATM in the Philippines: The UnionBank of the Philippines, one of the leading financial institutions in the country, has launched a two-way bitcoin automated teller machine (ATM), according to astoryin local media outlet Philstar. This is the country's second crypto ATM that provides users with the ability to sell and purchase digital assets like bitcoin for pesos, the country’s official currency. The country's first bitcoin machine was installed in Manila by BitCoiniacs in 2015. The UnionBank has reportedly collaborated with the Filipino Central Bank, Bangko Sentral ng Pilipinas (BSP). UnionBank, the country's seventh largest bank told Philstar, “In the bank’s continued quest to cater to the evolving needs and tastes of customers, including clients who use virtual currency, the ATM will provide these clients an alternative channel to convert their pesos to virtual currency and vice versa.” So far, the bank hasn't mentioned its intention to deploy more ATMs in the future, but it will be monitoring the usage and performance of the ATM, which could impact what it does next. In a country where about 77 percent of the population doesn’thave a bank account, crypto bridges the gap and creates inclusion for financial services. Coins.ph, a leading crypto exchange in the country,celebrated the onboardingof 5 million Filipinos on its platform in May 2018. Another reason why crypto is so prevalent in the Philippines is remittances, which make up 10 percent of its GDP. The country is thethird largest remittancereceiving country in the world. For Filipinos overseas, cryptocurrencies offer a cheaper way of sending money to relatives at home. For a country that is proactive with crypto regulations and was among the first nations to recognize it as an asset class, the deployment of regulated crypto ATMs could foster mainstream adoption of cryptocurrencies, build investor confidence and help develop the local cryptocurrency sector. This article originally appeared onBitcoin Magazine. || The Case for a 2020 Bitcoin Bull Run: Christopher Brookins is the founder of Pugilist Ventures, a quantitative crypto fund founded out of Carnegie Mellon. ———————————————————————————————— Since the end of 2018, price action has been demonstrably negative, which surprised many expecting the end of Q4 historical “pump” in prices. Looking North? Bitcoin Price Dip Forms Bull Flag Pattern The price plummet appears largely driven by negative sentiment and swathes of selling pressure after the 2018 support level of $6,000 finally broke (dashed black line). This selling pressure kept prices well into the oversold range (using RSI and SWTO ) for several weeks. Only recently, has price begun to rebound. Even so, RSI and SWTO are still trending downward (black arrows), which may point to further price weakness at the beginning of Q1 2019 while bitcoin searches for a sustainable bottom. Charts via Tradingview.com Volatility ≠Price Growth Ethereum Classic’s Price Stumbles Amid Suspected 51% Attack As mentioned prior, many market commentators and participants assumed, incorrectly, that Q4 was always a strong period for market price growth, specifically from mid-November to the end of December. However, what many viewed as historically consistent price growth during this period, was in fact historically consistent volatility growth. The graphic below shows historical daily volatility trends of bitcoin on a yearly basis since 2013. Thus, the supposition that many bulls were wrongly betting on was that higher volatility always equates to higher prices. *Gdax/Coinbase Pro As the volatility chart illustrates, the volatility trends of BTC, since 2013, do follow predictable patterns, culminating in higher volatility during Q4. This dynamic unfolded again in 2018 as price volatility compressed from October to mid-November (black lines), which typically precedes a breakout in price action . However, this time, volatility broke out to the downside for bitcoin. After analyzing the overall trend in 2018 (demonstrably bearish), price volatility compression, historical volatility patterns, and fundamental indicators, it should have been more clear to market participants that the probability of a negative price breakout was far higher than to the upside. Fundamental Indicators Fundamental indicators can be quite useful for ascertaining a “narrative” of price movements and patterns, as long as the narrative is rooted in non-subjective data exploration. However, given the small sample size of bitcoin market cycles (n=10), each indicators output and predictive ability should be taken with a “grain of salt”. Story continues Nic Carter from Castle Island Ventures / CoinMetrics and Antoine Le Calvez from Blockchain.info recently pioneered a new concept called realized cap (capitalization). The differentiation between realized cap and market cap being “instead of counting all of the mined coins at equal, current price, the UTXOs are aggregated and assigned a price based on the BTC/USD market price at the time when said UTXOs last moved.” David Puell and Murad Mahmudov do an excellent job explaining these terms and significance further in their article . Using data from CoinMetrics, the significance of realized cap compared to market cap can be visualized quite dramatically, albeit via a small sample size. The crossover points between market cap and realized cap can be viewed almost similar to golden crosses , whereby market cap breaching above realized cap is a re-ignition of a bull cycle, while a cross beneath may indicate the final stretch of a bear cycle. Beyond the aforementioned, this comparison offers lessons which may bear out or “repeat” in 2019. Looking at the graphic, market cap went beneath realized cap on December 28, 2014, and stayed beneath realized cap until October 28, 2015, which coincides with the data-validated, high volatility period for bitcoin. In this case, volatility coincided with price growth for bitcoin and kicked off the start of an amazing two-year bull run for bitcoin. This time around, market cap fell beneath realized cap on November 20, 2018. So, if history repeats itself (which is a tepid assertion), an investor might expect further price declines in 2019 followed by sideways trading, until a reignition of a new bull cycle at the end of Q4 2019 (November to December 2019). Correlation to Δprice of 0.19 Additionally, using realized cap, an additional ratio or oscillator can be created that further explains bitcoin’s market cycles, market cap to realized cap (MVRM). The MVRM provides a useful indicator that visualizes the above dynamic via one ratio. For example, historically, a value beneath 1.0 is undervalued while a value above 3.0 is overvalued; and above 4.0 is a negative inflection for prices. Currently, MVRM is 0.82 and the all-time low is 0.56. So, despite bitcoin being in undervalued territory, MVRM still possibly has further room to fall, which is consistent with the end of Q4 2019 narrative. Further support of the significance of MVRM for price movements can be seen by the correlation between price and MVRM of 0.19, and correlation between price and MVRM of 0.98, which is extraordinarily high. * coinmetrics.io Network transaction volume to active addresses ratio (TAAR) This ratio acts as an “equilibrium” gauge of bitcoin’s price to fundamentals valuation, where transaction volume and active addresses both represent “quantity and quality” growth of the bitcoin network; validated by 0.15 and 0.07 correlation between price, respectively. For example, when TAAR and price are closely distributed, price (valuation) and fundamentals are aligned in equilibrium; and when either TAAR or price deviate substantially from each other, price is out of equilibrium which has historically resulted in price devaluation (albeit small sample size). The market’s recent selloff has helped reduce the gap between price and TAAR, which has persisted since Q4 2017. Correlation to Δprice of 0.13 The 30 day moving average of TAAR is ~$2500 while TAAR daily is ~$2000, thus an “equilibrium” range for price appears between $2,000 and $3,000. *Note: prices seldom mean revert directly to their equilibrium level, they typically over-correct, which makes further price depreciation beyond the stated levels possible. Additionally, as can be seen on the logarithmic chart, price has bounced off TAAR’s 30-day MA twice in 2018 (black boxes), and has most recently rebounded momentarily. The final price flush before finding a stable bottom will likely coincide with price falling beneath the TAAR 30 day MA, price recovering that level, and then TAAR beginning to trend upward once more. * coinmetrics.io Similar to MVRM, the TAAR to price ratio is an oscillator that visualizes the same dynamic via one ratio. Historically, a ratio of 1.5 and above is undervalued, 1.0 to 2.0 is “safe”, and beneath 1.0 (“equilibrium”) is overvalued. Currently, the oscillator is ~0.70 which still indicates overvaluation, but the overall trend back towards 1.0 is positive. * coinmetrics.io Conclusion While the recent price action for bitcoin has been harshly negative, these market clearing events have begun the normalization process for bitcoin’s price valuation, which can be seen in several indicators. Per the MVRM analysis above, if history repeats itself, price will likely fall further, then trade sideways until the end of Q4, then reignite a new bull market. An additional verification of this narrative will be if the TAAR to price oscillator enters undervalued territory above 1.50 in 2019, especially, prior to Q4. *Disclaimer: this article is for educational purposes only and should not be considered investment or trading advice. Bitcoin  image via Shutterstock Related Stories Breakout Ahead? Bitcoin Closes on Key Price Hurdle The Coming Bifurcation of Bitcoin View comments || Bitcoin Monthly Forecast – January 2019: Crypto markets expressed a relatively solid performance during the month of December 2018 when compared to price action from earlier months. Price action in December has high affinity to fundamental and technical analysis and was in line with market analysis forecasts when compared to previous months which saw crypto currencies trade on news and event driven momentum. Bitcoin continued to decline in early December hitting in lows, however fund flow on hopes of year end rally and possible fund flow from Institutional investors on expectations of new bitcoin ETF hitting markets helped stage some solid recovery. The first two weeks didn’t see any major changes to bear’s grip on market and investor sentiment resulting in Bitcoin continuing to hit new 2018 lows with each passing session. The pair did see many short attempts to recover ground each of which failed miserably and was commonly referred to as dead cat bounce scenario. A clear lack of fundamental support caused Bitcoin to move as low as $3169.53 however investors’ expectations for possible year end rally and fund flow from institutional investors over Bitcoin futures which should have began near Christmas helped bitcoin stage significant recovery in last two weeks of December. Bitcoin now has strong support and resistance on fundamental level at $3000 & $6000 respectively. Meanwhile $4000 serves as intermittent resistance level which if breached by a sustained rally could see pair make significant headwinds in market. On the other hand as long as BTC/USD pair remains trapped below $4000 mark Bitcoins will continue to see range bound price action. Due to regulatory approval issues, Bitcoin futures which was backed by ICE Futures U.S., the parent company of NYSE and was supposed to hit market on December has been postponed to January which is one of the key events in investor focus as trading session moves into January 2019. If the futures hit market via ICE’s Bakkt cryptocurrency platform this month it could change the entire playing field of bitcoin market as it will bring huge volume and fund flow from retail & institutional investors greatly changing price dynamics of Crypto currency’s progenitor. This event could even serve as a factor that will trigger bullish rally in BTC/USD pair to reclaim $6000 levels.  While the tentative date for said event is January 24, 2019 there is no conclusive evidence that said product will hit market on schedule and could get postponed further as CFTC [Commodity Futures Trading Commission] regulators are hesitant to approve a financial instrument that lacks proper security measures. The President of the Securities and Exchange Commission (SEC) Jay Clayton stated at the end of last November, “I want to see better market surveillance and custody for digital currencies before being comfortable with a crypto ETF”. In the year that should have been the institutionalization of investments in Bitcoins, up to 9 proposals for the launch of ETF’s have been rejected as regulatory authorities have deemed bitcoin related futures and ETF’s as assets which do not offer sufficient guarantees against fraudulent manipulation of the markets. In order for crypto markets to improve and recover from last year’s losses security measures require significant upgrades. In case of theft, the unwritten rule is to replace what has been stolen in customers’ accounts, but crypto market doesn’t offer such a kind of security measure hindering market progress significantly. The people in charge of the exchanges have understood correctly the necessity to guarantee the investments of their clients and as there is no urgency to approve products that does not meet said requirement, bitcoin ETF’s and future contracts are unlikely to hit market anytime soon which hints at range bound price action across the month of January 2019. Security remains a weak spot, and it is very likely that negative news in this regard will continue to appear on a recurring basis in 2019. The rapid advances in super computing make it easier every day to decipher secure keys, so the work of all those responsible for security is going to be crucial to try to eradicate these attacks. Across 2018 nearly US$1 billion worth of crypto currency tokens and assets have been lost in form of theft and since this issue is highly prevalent across globe it greatly limits investor participation which could boost trading volume even if it doesn’t serve as trigger to help bitcoin break past $4000 mark. After a year long correction which saw Bitcoin sustain loss of market capital worth several hundred billion US dollars, the next twelve months will be decisive for the long-term future of Bitcoin. In the last three days, Bitcoin has emerged from the lows and is now testing price levels near $4000 which is close to 25% increase in value compared to December lows. Commonly dubbed as Santa rally, the recovery rally helped bitcoin temporarily break past $4000 mark and gain solid support at $3500 handle which limits any sharp downside move in immediate and near future trading session. Now that bitcoin has found a bottom to its bearish rally which began in early third quarter of FY 2018-19 and bitcoin is finding increasing acceptance as valid financial instrument in various governments across globe news driven momentum is expected to keep the pair locked in range of $4500 to $3500 during January 2019 while $3000 and $6000 act as psychological support and resistance levels. Thisarticlewas originally posted on FX Empire • 2019 Gets Off To A Sour Start, Manufacturing Activity Slows, More Tariffs May Be Needed • GBP/JPY Price Forecast – The Dragon falls • USD starts the New Year on the front foot • EUR/USD Price Forecast – Euro falls hard to kick off the year • Rebound in Oil Sector Fuels U.S. Stock Market Recovery • Will 2019 be the Year where Investors Sell Everything? [Random Sample of Social Media Buzz (last 60 days)] Today's biggest #cryptocurrency movers Bitcoin Cash ($BCH): +2.72% VeChain ($VEN): −10.40% https://moonwat.ch/prices  || Where is bitcoin.conf and why doesn't bitcoind find existing datadir v0.17.1 https://bitcoin.stackexchange.com/questions/83850/where-is-bitcoin-conf-and-why-doesnt-bitcoind-find-existing-datadir-v0-17-1 … $BTC $ETH $XRP $BCH $LTC $NEO $XLM $ADA $XMR $EOS $DASH $IOTA $NEM $TRX $ETC $VEN $LISK $QTUM $BTG $NANO $OMG $ZEC #blockchain #cryptocurreny #bitcoin #litecoin #ethereum # || Bittrex - Volume changed on Enjin Coin (BTC/ENJ)! Price: 0.00000941 (+0.43%), Volume: +35.64% https://goo.gl/RWbFHj  || Cheers! http://ElixiumCrypto.com/11/  Register Now & Start Buying & Selling Cryptocurrency #Crypto #Cryptocurrency #Bitcoin #BTC #Ethereum #ETH #Ripple #XRP #EOS #Stellar #Litecoin #LTC #Cardano #Monero #TRON #IOTA #Dash #Tezospic.twitter.com/kXYNroXrqV || 1 BTC is still 1 BTC sir || Working with BITCOIN? Try BiTcOiN the smartest punchcard system for Web developers. || twitter has time stamped your phrase and it has been recorded. Congrats!! || When Bitcoin ETF? Not Any Time Soon, But Maybe by 2020: There are no bitcoin ETF proposals currently sitting before the SEC, but one may still be approved before 2020. https://goo.gl/8DT6mt  #Regulation #Newspic.twitter.com/xthAj7ECht || $BTC pump on @binance happening in 1 hour || Bitcoin Price Volatility Is Down 98% Year-on-Year http://zpr.io/gt2Ep 
Trend: up || Prices: 3864.42, 3847.18, 3761.56, 3896.38, 3903.94, 3911.48, 3901.13, 3963.31, 3951.60, 3905.23
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 Excited Should Investors Really Be After Strong March Auto Sales?: Everyone loves a good surprise, and what better way for the U.S. auto industry to kick off spring than with a surprising 6.4% sales increase over the prior year? It was a better-than-expected result and the industry's largest year-over-year sales gain since February of 2016. After over a year of pessimism, plateauing sales, and plummeting passenger car sales, investors can be forgiven for over-hyping last month's result, but how strong was it really? Let's dig into some of the highlights to see why investors should temper expectations going forward. Spring surge It didn't take long for 2018 to start looking better than 2017 as March was already the auto industry's second gain of the year, compared to 2017, when the first gain didn't roll around until September. Last month's seasonally adjusted annualized sales rate (SAAR) checked in at 17.49 million, which blew away analysts' estimates calling for 16.8 million. "Consumers are keeping the U.S. economy growing and auto sales very healthy," said Mustafa Mohatarem, General Motors ' chief economist, in a press release. "The job market is strong, consumer confidence is at decade-high levels, and we see clear evidence that business owners are taking advantage of tax reform to upgrade their fleets." All said and done, sales through March are up 2% compared to the prior year, and some investors are feeling more optimistic than they have in months -- but one quarter doesn't make a trend. Individual highlights For the first time in 18 months, Fiat Chrysler Automobiles (NYSE: FCAU) investors had reason to cheer during the sales report , as the automaker snapped out of its monthly sales decline streak with a 14% sales gain over the prior year. FCA's strong month was driven by its Jeep brand, which posted its best month of sales ever and a ridiculous 45% increase over the prior year, to nearly 100,000 units. Jeep was able to take advantage of consumers' hardy appetite for SUVs, which powered FCA to sell more vehicles at retail than its rival Ford Motor Company (NYSE: F) , an uncommon achievement for the smaller automaker. Story continues Speaking of Ford, Detroit's second-largest automaker topped expectations with a 3.4% sales gain in March. The folks at the Blue Oval were able to offset an 8.1% sales decline in its car segment with SUVs and trucks up 7.5% and 6.7%, respectively. While Ford's SUVs lacked the impressive sales gains that Jeep recorded, it was good enough for the segment's best March ever. One data point that Ford can hang its hat on is average transaction prices (ATPs). Ford notched the highest transaction prices of any full-line automaker at $36,300 per vehicle in March, driven by a large $1,700 ATP increase for its F-Series trucks, which reached an average of $46,800 per truck. In fact, Ford's overall ATPs were up roughly twice the rate of the industry's $700 ATP gain. Ford's 2018 Super Duty parked outside with forrest background. Ford's 2018 Super Duty. Image source: Ford Motor Company. March's strong sales gains weren't limited to Detroit automakers as Toyota (NYSE: TM) quietly put the finishing touches on its best first quarter in a decade. Toyota's sales moved 3.5% higher during March and notched over 507,000 vehicles sold during the first quarter. The Japanese automaker, historically known for its passenger cars, couldn't escape the decline in demand for smaller vehicles as its Camry and Corolla posted sales declines of 1.1% and 4%, respectively. Fortunately, the Rav4, Highlander, Tacoma and Tundra made up for it with solid gains of 9.1%, 19%, 21%, and 14%, respectively. Pump the brakes While the first quarter of 2018 has been better than expected for the auto industry, there are certainly reasons to temper expectations going forward. One thing to consider is that sales volume from March might seem slightly inflated because there were 28 selling days last month compared to 27 during March of 2017. Also, as we drive through the months ahead, interest rates are expected to rise four times throughout 2018, which will make borrowing more expensive and will also increase consumers' potential monthly payments. Further, sales have been driven recently through increased incentives and deals, which must be managed to ensure solid profitability, so a pull-back on those deals could slow sales. If those factors weren't enough to temper auto investors' expectations, consider that years of aggressive leasing strategies will unload millions of fresh, off-lease vehicles that will provide compelling options for consumers instead of new vehicles. March was a surprisingly strong month for the auto industry, and the first quarter checked in better than the prior year -- but investors would be wise, for the reasons stated above, to temper their expectations for sales 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 Daniel Miller owns shares of Ford and General Motors. The Motley Fool recommends Ford. The Motley Fool has a disclosure policy . || US dollar choppy against Canadian dollar again on Monday: The US dollarrallied initially during the trading session on Monday, showing signs of strength before reaching the 1.29 level, an area that has been resistance more than several times lately. Because of this, I think that we continue the overall consolidation, as there is a massive amount of resistance extending to the 1.30 level. If we were to break above the 1.30 level, that could be a very strong sign for the greenback, which is the strongest major currency in the world right now. I think that the Canadian dollar is suffering due to the Bank of Canada stepping away from interest rate hikes, or at the very least pushing them back. Although crude oil markets have been very strong, this has not helped the Canadian dollar in general, and this tells me that the world is focusing on the Canadian economy, and not necessarily using the currency as a proxy for the crude oil markets for months. Ultimately, if we break down below the 1.28 level, I think there is a massive “floor” in the market near the 1.2750 level, so if we break down below there, it could change the overall attitude of the markets. Until then, I think we continue to consolidate with a generally upward bias, but obviously we have a lot of work to do to finally send this market much higher. Until then, I think buying the dips continues to work, at least on short-term charts. Thisarticlewas originally posted on FX Empire • Bitcoin Struggles as Investor Focus Returns to Regulatory Risk • Global Investors Braced for President Trump • Oil Price Fundamental Daily Forecast – Specs Overcooked Rally, Clear Buy the Rumor, Sell the Fact Situation • E-mini Dow Jones Industrial Average (YM) Futures Analysis – Needs to Hold 23937 to Generate Momentum to Test 24923 • Bitcoin Cash, Litecoin and Ripple Daily Analysis – 08/05/18 • EURUSD on Bearish Free Fall Post Disappointing Macro Data on Monday || It's Roller-Coaster Season for Six Flags and Cedar Fair: The whiff of funnel cakes and the delighted shrieks of coaster riders are starting to fill the air again. Regional amusement park operators are starting to unlock their turnstiles for the 2018 season, and unlike the year-round theme park giants that draw crowds all year long, this is when Cedar Fair (NYSE: FUN) , Six Flags (NYSE: SIX) , and smaller chains generate the lion's share of their revenue and all of their profits. Some of the most anticipated additions to the amusement park landscape have just opened or are about to debut. Cedar Fair's Kings Dominion introduced Twisted Timbers last weekend, a hybrid coaster that is the park's first new coaster in eight years. Six Flags Fiesta Texas has high hopes for its single-rail Wonder Woman Golden Lasso coaster when it opens in a few days. Some of the parks a bit more up north will be kicking off their 2018 seasons in the weeks to come. Wonder Woman Golden Lasso coaster set to open in April at Six Flags Fiesta Texas. Image source: Six Flags. You must be this tall to ride Fun is big business, and not just because it's Cedar Fair's ticker symbol. A lot of people visit amusement parks every summer. Cedar Fair attracted 25.7 million guests across all of its parks in 2017. Six Flags drew 30.4 million guests to its larger collection of regional amusement parks. Cedar Fair and Six Flags grew their guest counts slightly last year, and they've been excelling lately in getting more people to buy season passes and getting folks to spend more once they are at the park. Investors have been rewarded nicely over the long haul. Cedar Fair units and Six Flags shares have soared 157% and 186%, respectively, over the five past years, dividends included. It's been a different story for more newer investors. Despite the favorable momentum, Cedar Fair and Six Flags haven't kept pace with headier general market gains since the start of last year. Cedar Fair and Six Flags are up 8% and 10%, respectively, over the past 15 months. Things can naturally change with a strong season, and unlike the major year-round theme parks that seem to be phoning it in until 2019, we're seeing Six Flags and Cedar Fair rolling out new pricey scream machines for their mostly local audiences this year. Wall Street isn't sold just yet. Analysts see Cedar Fair growing its revenue at a modest 5% clip, but it would be the chain's strongest top-line growth in three years. Story continues Most analysts see a slight decline in profitability, but not Jeffrey Thomison at Hilliard Lyons. He put out an upbeat note after Cedar Fair checked in with mixed fourth-quarter results last month. He's encouraged by the increased on-site hotel capacity at Cedar Point following a new five-story addition at Hotel Breakers, effective capital spending, and incremental sales opportunities as we head into the telltale season. Given the easy comparison to last year, he's holding out for improving bottom-line results. Six Flags is another one that analysts see snapping out of a lull after back-to-back years of sub-5% revenue growth. Wall Street sees a 7% uptick on its top line, as well as an increase in adjusted earnings. Cedar Fair and Six Flags may seem more appealing to income investors than growth investors. Cedar Fair's yield of 5.5% and Six Flags at 5.2% do a pretty good job of sharing the wealth with their stakeholders. Cedar Fair is targeting 4% in annual increase to its distributions, keeping up with its long-term 4% revenue growth goal. Both investments have failed to keep up with the market over the past year, but just like a slow lift up a coaster -- and Cedar Fair and Six Flags know a thing or two about that as the companies behind 2018's top roller coasters -- sometimes you go through a slow ascent before things start to get wild. 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 recommends Cedar Fair. The Motley Fool has a disclosure policy . || Spirit Airlines Incorporated's Cost Guidance Is Incredible: Last fall,Spirit Airlines(NYSE: SAVE)forecast that its adjusted nonfuel unit costs would decline 3%-5% year over year in 2018. This reflected the ultra-low-cost carrier's dreadful cost performance during the second quarter of 2017, when a pilot dispute forced Spirit to cancel hundreds of flights. Adjusted nonfuel unit costs surged 10% year over year in that quarter. However, investors viewed this 2018 cost guidance as a placeholder, as Spirit Airlines entered the year on the verge of signing a new pilot contract. Sure enough, in February, the pilots ratified a deal that gave themimmediate raises averaging 43%, plus other benefit enhancements. Yet while Spirit Airlines did increase its unit cost outlook after the new pilot contract was ratified, the impact on its cost structure wasn't as bad as investors may have feared. And in an investor update released on Tuesday, Spirit moved its 2018 cost guidance lower again -- putting it almost exactly back where it was at the beginning of the year. On March 1, Spirit Airlines updated its cost guidance in light of the new pilot contract. At the time, it projected that unit costs would be down about 3% in the first quarter and down 0%-1% for the full year. In other words, over the course of the full year, the additional costs from the new pilot contract will essentially cancel out the tailwind from facing an easy year-over-year cost comparison in Q2. Considering the size of the pilots' raises, the cost impact was relatively modest. This may indicate that Spirit achieved substantial productivity improvements in the new contract. Spirit Airlines' new pilot contract isn't hurting profitability as much as expected. Image source: Spirit Airlines. On Tuesday, Spirit revealed that unit costs came in comfortably better than its projections last quarter. It now expects to report a roughly 5% nonfuel unit cost decline for Q1. Even more remarkably, the carrier revised its full-year cost outlook down by 3 full percentage points. Spirit Airlines' new forecast that adjusted nonfuel unit costs will decline 3%-4% in 2018 is virtually identical to the initial guidance that the carrier provided late last year. Spirit Airlines attributed most of its Q1 cost beat to completing more of its scheduled flights. Indeed, after overcoming the disruption from last year's pilot dispute, Spirit has started making big strides in terms of boosting its reliability. On-time performance and completion factor have both improved significantly in the past several months. If Spirit Airlines can continue to improve its reliability, it will help the company reduce its unit costs even further. It could also lead to unit revenue improvements a little further down the road, by helping the carrier improve its reputation. Turning to the full-year outlook, Spirit Airlines will achieve substantial cost savings due to its recent decision tobuy 14 previously leased A319s. Aircraft rent represents one of Spirit's largest expenses. Indeed, the company spent nearly 8% of its revenue on aircraft rent last year: $206 million. In the past, Spirit has noted that it can save about $1 million annually per aircraft by buying rather than leasing planes. The savings may be even greater here, because the carrier is acquiring cheap used aircraft. In its recent investor update, Spirit Airlines acknowledged that unit revenue fell 2.4% year over year in the first quarter. This was near the low end of its guidance for a 1%-2.5% decrease in unit revenue, due to a combination of tough competition and a higher completion factor. However, with the improvement in its unit cost forecast, Spirit Airlines should be able to surpass the average analyst EPS estimate for the first quarter of $0.37. Unit revenue is likely to decline again in the second quarter, due to the timing of Easter, price matching by rivals, a tough year-over-year comparison, and Spirit Airlines' rapid growth. That said, Spirit is steadily refining its route strategy -- cutting underperforming routes and increasing the number of seasonal routes it operates -- which could help limit the pressure on unit revenue. Meanwhile, nonfuel unit costs will decline at a high single-digit rate this quarter, or perhaps even a low double-digit rate. This should more than offset the sharp increase in fuel costs that Spirit will face. As a result, EPS could soar past the average analyst estimate of $0.98. Spirit Airlines stock may continue to struggle until the company offers firmer evidence that it can get unit revenue growing again. But with the stock trading for around 10 times earnings -- and plenty of room for future revenue and earnings growth -- Spirit Airlines stock looks like a tremendous bargain right now. 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-Weinbergowns shares of Spirit Airlines. The Motley Fool owns shares of and recommends Spirit Airlines. The Motley Fool has adisclosure policy. || Bitcoin's relationship to the stock market: If you want to know where stocks might be headed next, keep an eye on bitcoin, says Morgan Stanley’s Michael Wilson. “We continue to think the price of bitcoin is worth watching as another signal of animal spirits,” Wilson said in a note to clients published Monday. “Remarkably, since the peak in P/Es and bitcoin on the exact same day, December 18th, they have traded very closely together,” Wilson adds. “While we do not expect this relationship to continue to hold so tightly we do think it will be hard for P/Es to move significantly higher or lower without a commensurate move in the digital currency.” In other words, enthusiasm for the stock market as expressed by investors willing to pay a higher price for future earnings peaked just as the price of bitcoin peaked. On Tuesday, bitcoin was trading just above $8,000 per coin, down from around $10,500 a month ago and more than 50% below its all-time high of just below $20,000 hit back in mid-December. The S&P 500 was up 0.1% after a 2.7% rally on Monday and is down 0.5% so far this year. Bitcoin caused a craze in the second half of 2017, but it’s price might have become more useful for stock market investors in recent months, say analysts at Morgan Stanley. And this jives with an observation from Wilson last week which posited that the rally seen in the stock market over the first few weeks of January was a “melt-up” that marked the top for investor sentiment this year. Because if 2017’s market rally appears in hindsight to have clearly hinged on investor anticipation of the benefits of tax reform, the realization of these benefits resulted in a flurry of bullish views on the market at the outset of the year that almost necessarily sets up investors for disappointment. “In other words, by the time people are calling for a melt-up, it is basically over,” Wilson said in a March 19 note to clients. “Tax cuts were the event to capture investors’ imagination, but the reality is that the market had been pricing tax legislation in for months, if not quarters.” And so in thinking about where stocks go from here — and three-straight days with the S&P 500 moving more than 2% certainly shows a market searching for direction — Wilson sees bitcoin as a key marker of investor sentiment and a potential guidepost for markets. Story continues “More interestingly, Bitcoin has been leading on the downward moves by about a week or two,” Wilson writes. “In fact, Bitcoin tested (successfully) it’s 200 day four days before the S&P 500. Therefore, we believe bitcoin bears watching.” And as the chart from Wilson shows, the market’s recent move lower on a valuation basis overshot the earlier drop in bitcoin, potentially signaling that stocks will rebound to move back in line with the digital currency. The stock market’s valuation and the price of bitcoin have had a close relationship in recent months, Morgan Stanley notes. (Source: Morgan Stanley) — Myles Udland is a writer at Yahoo Finance. Follow him on Twitter @MylesUdland Read more from Myles here: Trump’s trade moves put his favorite economic report card at risk The Fed’s big message for markets — don’t worry about our forecasts The Trump tax cut earned Warren Buffett’s Berkshire Hathaway $29 billion in 2017 Goldman Sachs says U.S. economic data right now is ‘as good as it gets’ One candidate for Amazon’s next headquarters looks like a clear frontrunner || Why General Motors Made Cadillac Wait for the All-New XT4 SUV: Last week, General Motors (NYSE: GM) introduced the all-new Cadillac XT4 . It's a stylish crossover SUV, a size down from the brand's existing XT5, that will go on sale in the U.S. and China later this year. The XT4 is a product that Cadillac has sorely needed for a couple of years now. The brand has had to watch from the sidelines as sales of compact luxury crossover SUVs boomed in both the U.S. and China over that time. The good news is that the XT4 looks like a winning product. But why did Cadillac have to wait so long to get it? As Cadillac's president explained to me in an interview last week, he had to go halfway around the world to convince GM to fund the new vehicles that Cadillac needed. A copper-colored Cadillac XT4, a small crossover SUV, parked on a city street. The all-new 2019 Cadillac XT4 will go on sale this fall. Image source: General Motors. Cadillac needed new products, but it needed something else first The story starts in mid-2014, when longtime Audi and Nissan executive Johan de Nysschen joined GM to take on a daunting mission : restoring Cadillac to the top of the world's luxury-car rankings. De Nysschen demanded (and got) plenty of leeway from CEO Mary Barra and the blessings of GM's board of directors. One of the first things he did was to draw up an ambitious product plan for the brand. But he quickly ran into trouble: As he told me in an interview last week, his sales projections weren't enough to get those new Cadillacs funded: We recognized that there was all this white space in our product portfolio. But General Motors is now run with a very high degree of vigor in terms of financial discipline. That's why the company is performing well. But the downside of that is that there are no pet projects. If a vehicle program doesn't pay its way, then it doesn't happen. And Cadillac's struggle had been that it was literally starved of product. It sounds like a Catch-22, but it was a genuine dilemma. Cadillac's sales were poor because it urgently needed new products, but de Nysschen couldn't get GM's board to fund those new products because its sales numbers were poor -- meaning that any reasonable sales projections weren't enough to justify the investments. Story continues "We couldn't get the numbers to work," he said. What de Nysschen and his new team needed was a way to start selling a whole lot more Cadillacs, quickly. Fortunately, the answer was right in front of them. De Nysschen is shown presenting the new Cadillac CT6 V-Sport sedan at the New York International Auto Show on March 28, 2018. Johan de Nysschen, shown here at the New York International Auto Show last week, has led Cadillac since 2014. Image source: General Motors. To fix the U.S., Cadillac had to invest in China " We had to prioritize China in order to solve our U.S. product challenge," de Nysschen said. GM had a large presence in China, and Cadillac a modest one, when de Nysschen came on board. But luxury sales were booming in China, and de Nysschen saw an opportunity to invest in a much bigger presence. We invested very heavily, far more aggressively perhaps than what might normally be the case. We decided that the only way to be competitive is to localize, so we could avoid the big tariffs [that China levies on imported vehicles]. So we built the plant [an advanced Cadillac-only factory near Shanghai that opened in early 2016]. In a way it was sort of akin to burning the ships, because once you've built the plant you had better make it work. Cadillac also invested in a big expansion of its China dealer network, de Nysschen explained, carefully selecting high-quality dealers who were willing to take chances on stores devoted entirely to the Cadillac brand. In 2014, Cadillac had sold about 68,000 vehicles in China, far short of the 170,000 it sold in the U.S. that same year. But growth came quickly once de Nysschen's effort got underway: Sales rose 17% in 2015, 46% in 2016, after the new Shanghai factory was up and running, and another 51% in 2017 to 116,406. "The China business has now become self-sustaining. It doesn't need our investment anymore," de Nysschen said. "In fact, now the opposite is happening. It's sending us money, which we can now directly apply here." A partially assembled Cadillac XT5 SUV is shown on a factory assembly line. GM opened a new, highly flexible Cadillac factory near Shanghai in early 2016. The added production helped Cadillac's China sales rise 46% that year, and another 51% in 2017. Image source: General Motors. Success in China should help drive growth in the U.S. Cadillac's sales in China have boomed since 2014, but its U.S. sales haven't: Cadillac's U.S. sales in 2017 were about 170,000 -- roughly equal to its 2014 result -- despite strong growth in luxury-vehicle sales overall. The XT4 is the first in a series of new Cadillacs that should help change that for the better. De Nysschen confirmed that the next new Cadillac will be a larger, three-row crossover SUV and it's likely to be unveiled late this year or early in 2019. More new Cadillacs will follow -- on average, one every six months or so -- until the brand's portfolio expands to cover more than 90% of the luxury market, up from 65% today. Those will include an all-new version of the big (and hugely profitable) Escalade SUV and at least two all-new sedans to replace the ATS, CTS, and XTS. (There may be a third Cadillac sedan in the works: A version of the stunning Escala show car could go into production as a new top-of-the-line model for the brand early next decade.) Those new Cadillacs seem all but certain to give the brand's U.S. sales the boost its dealers have been waiting to see. Of course, they'll boost the brand's sales in China, too -- and given the fat profit margins on Cadillacs, those sales gains should have an outsized impact on GM's bottom line over the next few years. 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 Rosevear owns shares of General Motors. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . || Bitcoin Price Moves Towards $9,000 With Strong Momentum, Bull Market: The bitcoin price has surpassed $8,800 after rising more than 6 percent over the past 24 hours. Volumes across major cryptocurrency exchanges remain strong and the daily trading volume of the market has increased past $26 billion for the first time over the past month. $9,200 On March 21, the bitcoin price tested the $9,200 support level but failed to sustain momentum for mid-term growth and fell below the $6,500 mark within two weeks after struggling to bounce off $8,200. At this juncture, it is likely that the bitcoin price tests the $9,200 level it had touched in late March, and a movement past that level would lead the bitcoin price to the $10,000 region by the end of April. In November 2017, investors described the $10,000 mark as a psychological threshold and a key milestone. At the time, traders predicted the price of bitcoin to surge substantially subsequent to surpassing $10,000. Almost immediately after breaking into the $10,000 region, the bitcoin price surged to $14,000 and eventually to $20,000. Since the initial correction of bitcoin in February, the market has not been able to demonstrate any sign of stability. The price of most alternative cryptocurrencies (altcoins) and tokens followed the short-term trend of bitcoin and the volume of regional exchanges in Japan and South Korea significantly decreased. Fundamentally, bitcoin is in an ideal position to initiate a new rally in both the short and mid-term, given that the adoption of cryptocurrency in general has started to increase. Moveover, in late 2017, the majority of speculators who bought into the cryptocurrency market did so out of FOMO, or fear of missing out, without solid knowledge in the structure and fundamentals of cryptocurrencies. Over the past five months, the awareness of cryptocurrency has increased drastically and a substantially large number of individuals have started to understand the basics of decentralized financial networks and cryptocurrencies. Story continues As such, fintech company Smart Valor CEO Olga Feldmeier stated that in the next two years, the bitcoin price will reach a value of $100,000, and within 2018, the bitcoin price will surpass its previous high at $20,000. “I believe that we will see a comeback to the height achieved at the end of 2017 this year. Over the next two years I still predict we could see it reach a value of $100,000,” Olga told The Independent . Rise of Altcoins Throughout this week, CCN reported that the altcoin season may have started with strong consistent performances of small cryptocurrencies and tokens. Today, several tokens like STORM have recorded a gain of above 30 percent against bitcoin and about 40 percent against the US dollar. Investors have gained more confidence in the cryptocurrency market and are now willing to take more risks by investing in cryptocurrencies with higher volatility and lower liquidity. Still, in an interview with FT, Ethereum creator Vitalik Buterin stated that the valuation of most altcoins or tokens cannot be justified and are overblown. “There’s projects that never had a soul, that are just like, ra-ra, price go up. Lambo, vrromm, buybuybuy now!” Buterin said. Featured image from Shutterstock. The post Bitcoin Price Moves Towards $9,000 With Strong Momentum, Bull Market appeared first on CCN . || More Than 2 Out of 3 Pot Users Drove High Within the Past Year, New Survey Shows: In case you haven't noticed, the legal marijuana movement is creating quite the buzz on Wall Street. Since the start of 2016, a number of the largest pot companies by market cap have seen their share prices rise by more than 1,000%. What's the buzz behind pot stocks? Why all the hoopla, you wonder? It has to do with a combination of rapidly growing sales, a consistent shift in the public's opinion on cannabis, and a "marijuana first" expected out of Canada later this year. A person holding cannabis leaves in their hands. Image source: Getty Images. In terms of sales, the North American legal cannabis industry tallied $9.7 billion in revenue in 2017, up 33% from the previous year, according to research firm ArcView, in partnership with BDS Analytics. Moving forward, this duo is projecting a compound annual growth rate of 28% through 2021, with sales reaching as high as $47 billion by 2027. As for the perception of pot, more Americans than ever now favor its legalization. Five separate polls over the trailing year – CBS News, Gallup, Fox News, Pew Research Center, and the independent Quinnipiac University – have all shown support ranging from 59% to 64% for legalizing cannabis. Quinnipiac's August survey also showed overwhelming support (94%) for the idea of green-lighting medicinal marijuana in the United States. Finally, there's a lot of excitement surrounding bill C-45 in Canada. The Cannabis Act, as C-45 is better known, is expected to result in recreational pot being legalized in Canada by this summer. This would make Canada the first developed country in the world to have legalized marijuana, and it could pave the way for $5 billion or more in annual sales. Legal cannabis is going virtually nowhere in the U.S. Within the United States, however, the legal cannabis industry is stuck in neutral, at least at the federal level. Despite almost three-fifths of U.S. states having legalized pot in some capacity -- including nine states that approved recreational marijuana – and five national surveys demonstrating strong support for legalization, the federal government has dug in its heels. Story continues A judge's gavel next to a book on federal and state marijuana laws. Image source: Getty Images. Currently a Schedule I drug, cannabis is wholly illegal, putting it on par with LSD and heroin. Furthermore, it's considered highly prone to abuse, and isn't recognized as having any medical benefits as a result of its federal scheduling. This scheduling can make life exceptionally difficult for patients and/or marijuana-based businesses in the United States. For instance, businesses often struggle to access basic financial services, which can include something as simple as a checking account. Since financial institutions report to the Federal Deposit Insurance Corporation (FDIC), and the FDIC is a federally created entity, the belief is that under a strict interpretation of federal law, financial institutions that offer financial services to pot businesses could be fined or criminally charged. Why won't Congress budge? Primarily because there are a handful of benefit-versus-risk concerns that can only be answered through long-winded studies. Without this data, lawmakers have little incentive to change marijuana's classification, short of being voted out of office on account of their view of cannabis. These concerns typically revolve around keeping adolescents away from pot, as well as ensuring that drivers under the influence of cannabis are dealt with harshly. This isn't going to help the legal pot industry's case for legalization This past week, however, an online survey conducted by the Colorado Department for Transportation (CDOT) revealed that the concerns of lawmakers may indeed be valid. Back in February, CDOT launched a campaign known as "The Cannabis Conversation" to gather information and feedback on cannabis use and behaviors within the state. As a reminder, Colorado was among the first two states (along with Washington state) to have voted to legalize recreational marijuana back in November 2012. Last year, the state racked up $1.49 billion in combined medical and recreational pot sales. Car keys surrounded by dried cannabis. Image source: Getty Images. The survey, which was taken online by more than 11,000 anonymous marijuana users and non-users, showed that 69% of the cannabis users admitted to driving high within the past year. What's more, 27% of pot users admitted to driving high almost daily. Just as interesting were the responses to questions regarding the perception of driver impairment. Just over a third of the respondents (34%) suggested that consuming cannabis doesn't impact their ability to drive, with another 10% intimating that it makes them drive better . That's close to half of all participants in this survey under the impression that using cannabis is essentially a non-factor behind the wheel. However, studies conducted by the National Institute on Drug Abuse have found that "marijuana significantly impairs judgment, motor coordination, and reaction time, and studies have found a direct relationship between blood THC [tetrahydrocannabinol, the psychoactive component of cannabis] concentration and impaired driving ability." In other words, Colorado cannabis users are setting a poor example that's only likely to cause Congress to dig in its heels even more on the drug's current scheduling. An intriguing technology that's still in its infancy What this study also demonstrates is the growing need for tools that law enforcement can use to detect impairment, beyond just visual tests. One of the biggest issues with cannabis use is there are no "line in the sand" figures that law enforcement can reference compared to, say, alcohol use. With alcohol consumption, law enforcement can use a breathalyzer to determine a person's blood alcohol content (BAC). If a person's BAC is 0.08% or higher, that's an arrestable offense. There are no clear impairments levels for cannabis use, which makes enforcing the law somewhat of a gray area. A police officer holding a breathalyzer device. Image source: Getty Images. Making matters even more difficult, cannabis metabolizes through the system differently than alcohol. The THC found in cannabis can remain in a person's system for days or weeks after use, which makes deciphering recency of use difficult for law enforcement. The solution might just be a number of next-generation dual breathalyzers that can be used for alcohol and cannabis consumption. Most importantly, they can be used to determine recency of use, which would be critical in terms of keeping our roads safe. Admittedly, this is a technology that's still in its infancy, albeit a few developers have tested their product in the real world. Nonetheless, marijuana breathalyzers aren't yet ready for mass adoption by police departments. Until they are, I doubt Congress alters its scheduling on cannabis. For the investing community, this means a suggested and ongoing avoidance of U.S.-based pot stocks. While all marijuana stocks come with their own unique set of risks, Canadian cannabis stocks present a far more favorable long-term view for investors than U.S.-based ones, mainly as a result of the expected legalization of adult-use pot by this summer. If you want to roll the dice on the cannabis industry, I'd strongly advise you to examine stocks north of the U.S. border. 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 . || What to Watch When NVIDIA Reports Q1 Earnings: Tech darlingNVIDIA Corporation(NASDAQ: NVDA)should be reporting its fiscal first-quarter 2019 earnings in a couple of weeks, most likely during the week of May 7. No exact date is set yet. The graphics processing unit (GPU) specialist has a lot of momentum, with investor expectations surely high. It's coming off another great year, with revenue and adjusted earnings per share (EPS) soaring 41% and 88%, respectively, in fiscal 2018. And a few weeks ago, it held its GPU Technology Conference (GTC) 2018, where it announced someexciting new productsandpartnerships. NVIDIA stock has returned 139% over the one-year period through April 18, crushing theS&P 500's 17.6%. Shares, which closed at $236.40 on April 18, are nearly 6% off their all-time closing high of $250.48 reached on March 16. Image source: Getty Images. Here are the year-ago period's results and Wall Street's estimates, as of this writing, to use as benchmarks: [{"Revenue": "Adjusted earnings per share (EPS)", "$1.94 billion": "$0.79", "$2.89 billion": "$1.45", "49%": "84%"}] Data sources: NVIDIA and Yahoo! Finance. YOY = year over year. Analysts are projecting torrid growth, though the adjusted EPS growth estimate doesn't represent an apples-to-apples comparison as NVIDIA is expected to get a boost from the recent U.S. tax reform. Investors can probably bank on another earnings beat. NVIDIA has been consistently sprinting by Wall Street's expectations, and there's no reason to believe this dynamic won't continue. Investors should be able to count on more strong growth from gaming, the largest of NVIDIA's four target market platforms. (In order of revenue, data center, professional visualization, and automotive are the three others.) Last quarter and in fiscal 2018, gaming's revenue jumped 29% and 36% year over year to $1.74 billion and $5.51 billion, respectively. To put its size in perspective, this business accounted for nearly 57% of the company's total revenue of $9.71 billion last fiscal year. The gaming platform is benefiting from both an expansion in the number of gamers as well as existing gamers increasingly buying higher-end GeForce graphics cards. Key growth drivers behind both dynamics have been esports and higher-quality computer games being released. Last year, the meteoric rise in cryptocurrency prices also provided a boost, as some folks have been buying NVIDIA's GeForce cards for "mining" certain digital currencies, particularly Ethereum, rather than buying the company's application-special boards for mining. The plunge in crypto prices this year means demand for NVIDIA's GPUs for mining should cool off. Image source: Getty Images. Investors should expect continued robust growth from data center, NVIDIA's second-largest market platform by revenue, and its fastest growing. Last quarter and in fiscal 2018, this platform's revenue soared 105% and 133% year over year to $606 million and $1.93 billion, respectively. This business accounted for nearly 21% of NVIDIA's total revenue last quarter. Data center's torrid growth is being driven by the strong adoption of NVIDIA's Tesla V100 GPUs based on its Volta architecture, which began shipping in the second quarter of last year and continued to ramp up in the third and fourth quarters. Every major server maker and cloud-service provider have adopted the V100 to deliver artificial intelligence (AI) and high-performance computing. NVIDIA's GPUs are the platform of choice for training deep-learning networks. (Deep learning is a category of AI that trains a machine to make inferences from data like humans do.) The company has also begun to gain traction in the deep-learning inference market. (Inferencing involves a machine applying what it's learned in training to new data.) Data center is also benefiting from robust growth in high-performance computing (HPC). Last quarter and in fiscal 2018, the automotive platform's revenue increased 3% and 15% year over year, respectively. While this business is small -- it accounted for just 5.7% of NVIDIA's total revenue last year -- the company has been laying the groundwork for potentially massive growth once driverless vehicles become legal across the land, which CEO Jensen Huang and other industry players believe could occur as early as 2021. Huang said at the GTC that more than 370 automakers, truck manufacturers, top-tier parts suppliers, tech companies, and others are now developing with NVIDIA's AI-powered autonomous vehicle platform, DRIVE PX. 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 Beth McKennaowns shares of Nvidia. The Motley Fool owns shares of and recommends Nvidia. The Motley Fool has adisclosure policy. || Best Bond ETFs for Rising Rates, Inflation: This article was originally published onETFTrends.com. As the growth outlook strengthens and the Federal Reserve responds with a tighter monetary policy, bond ETF investors will have to adapt to the changing market environment. "Tax cuts and plans for more government spending are turning past headwinds to U.S. growth into tailwinds," BlackRock Strategists, led by Jeffrey Rosenberg, said in a research note. "One result: The market has now caught up with the median interest rate path projected by Federal Reserve policymakers." Related:As Expected, Federal Reserve Delivers Rate Increase Consequently, BlackRock now sees opportunities toward the front end of the yield curve, notably short-term debt. "We see short-term U.S. debt offering relatively compelling income, with limited downside risk: Three Fed rate hikes are already priced in for this year, with the first likely this month," the BlackRock strategists said. "Markets could price in one additional quarterly hike after that Fed meeting (making a total of four for 2018), but we see a more rapid pace as unlikely." Furthermore, technical factors like higher U.S. Treasury bill issuance due to a rising federal budget deficit are also adding to the factors pushing short-term yields higher. As a result, short-term Treasuries may provide positive real yields for the first time since the financial crisis, with income sufficient to offset inflation. Investors interested in going down the yield curve has a number of options to gain broad exposure to short-term U.S. Treasuries. For instance, the iShares Short Treasury Bond ETF (SHV) is comprised of U.S. Treasury obligations with a maximum remaining term to maturity of 12 months - SHV shows a 1.56% 30-day SEC yield and a 0.39 year duration. The iShares 1-3 Year Treasury Bond ETF (SHY) tracks Treasuries with a one to three year maturity - SHY has a 2.13% 30-day SEC yield and a 1.92 year duration. The BlackRock strategists also point to floating rate and inflation-linked securities to buffer against rising rates and inflation. The iShares Treasury Floating Rate ETF (TFLO), provides exposure to U.S. floating rate Treasury bonds, whose interest payments adjust to reflect changes in interest rates. TFLO shows a 1.45% 30-day SEC yield and a 0.01 year effective duration. The iShares 0-5 Year TIPS Bond ETF (STIP) tracks short-term U.S. TIPS, which are government bonds whose face value rises with inflation. STIP has a 3.76% 30-day SEC yield and a 2.53 year duration. For more information on the fixed-income market, visit ourbond ETFs category. POPULAR ARTICLES FROM ETFTRENDS.COM • Why Tech Stocks Are Getting Pricey • Investing in Big India ETFs With Positive Outlook • Bank ETFs Pick Up as Dodd-Frank Rolled Back • 8% of Americans Own Bitcoin, Cryptocurrencies • Will Wage Growth Drive Up Inflation? READ MORE AT ETFTRENDS.COM > [Random Sample of Social Media Buzz (last 60 days)] O my dark horse, Let loose some miracle, My portfolio sits on 10% I feel miserable About time you gained some speed I am actually in need Stop following btc make your own path Be the dark horse That they claim you are || Price Discovery in Bitcoin http://awealthofcommonsense.com/2018/04/price-discovery-in-bitcoin/ …. || 29/04/2018 - 23:00 ========================= • -0.01 #Bitcoin: ₺37,778.47 • 0.14 #Ethereum: ₺2,753.06 • -0.02 #Ripple: ₺3.49 • 0.37 #BitcoinCash: ₺5,807.14 ========================= ➜ Anlık fiyatlar için takip edin! #BitcoinTürkiye || У КОГО ДЛИННЕЕ СТОЛБ? СТОЛБЫ ИЗ КРИПТОВАЛЮТЫ В ХОГВАРТСЕ https://cryptov.ru/%d1%83-%d0%ba%d0%be%d0%b3%d0%be-%d0%b4%d0%bb%d0%b8%d0%bd%d0%bd%d0%b5%d0%b5-%d1%81%d1%82%d0%be%d0%bb%d0%b1-%d1%81%d1%82%d0%be%d0%bb%d0%b1%d1%8b-%d0%b8%d0%b7-%d0%ba%d1%80%d0%b8%d0%bf%d1%82%d0%be%d0%b2/ … #майнинг #ферма #биткоин #криптовалюта #bitcoin #mining #etherium #blockchainpic.twitter.com/Ya6NMKdmOC || Total craziness... #stocks #wallstreet #investing #finance #bitcoin #cryptocurrencyhttps://twitter.com/zerohedge/status/981659944708640768 … || There are just about 1,500 addresses each holding over 1,000 BTC and below 10,000 BTC on the #bitcoin #blockchain $7 million to $70 million Current $BTC price: $7,068 pic.twitter.com/aWY4b70GdG || SPECIAL DISCOUNT PRICING: $0.99! Regularly priced: $3.99 $5.99. Ge http://bit.ly/2xJB7xV  #Cybersecurity #Bitcoin pic.twitter.com/L6KCNLUHkj || Total Market Cap: $438,599,889,343 1 BTC: $9,415.09 BTC Dominance: 36.52% Update Time: 30-04-2018 - 03:00:01 (GMT+3) || Gana $45,00 Usd Por Afiliar, Quieres ganarte dólares con Bitcoin sin tanto esfuerzo? Es solo dedicar un ···> http://www.comerciocenter.net/ad/gana-45-00-usd-por-afiliar … . # || 【上位5通貨の前日比と現在価格】 #BTC 937419.1 円（5.66%） #ETH 56771.61 円（4.35%） #XRP 69.05 円（3.86%） #BCH 106091.32 円（3.7%） #LTC 17394.39 円（4.53%） 2018-03-24 17:00:01
Trend: down || Prices: 8513.25, 8418.99, 8041.78, 7557.82, 7587.34, 7480.14, 7355.88, 7368.22, 7135.99, 7472.59
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 2022-04-13] BTC Price: 41166.73, BTC RSI: 42.82 Gold Price: 1981.00, Gold RSI: 60.81 Oil Price: 104.25, Oil RSI: 52.40 [Random Sample of News (last 60 days)] Dubai-Based MContent Partners With PwC to Launch Doc ‘Ripple vs SEC Saga’ in the Metaverse (EXCLUSIVE): Dubai-based cryptocurrency-based content platform MContent has partnered with PricewaterhouseCoopers ( PwC ) Middle East to launch its documentary “Ripple vs SEC Saga” in a virtual theater in the metaverse . Produced by MContent and Amsterdam-based Insight TV in tandem with Villain Studios, “Ripple vs SEC Saga” (first look image above) delves into the ongoing case being brought by the Securities Exchange Commission (SEC) since 2020 against blockchain company Ripple Labs. More from Variety Forbes Entertainment, Entertainment One to Produce Scripted and Unscripted Projects on Cryptocurrency Laundering Scandal Netflix Orders Docuseries About Couple Accused of Laundering Billions in Bitcoin Taiwan VR Films 'Beatday' and 'The Sick Rose' to Play at SXSW In this landmark case the SEC has accused Ripple of raising $1.3 billion in unregistered digital asset securities by using its digital coin, called XRP. The SEC’s key claim, which is being refuted, is that XRP is not a currency, but a security and therefore subject to strict securities laws. Ripple, whose defense attorneys include former SEC chair Mary Jo White, has been litigating aggressively. “Ripple vs SEC” will be launching MContent’s Cineverse, a virtual theater within the metaverse created in collaboration with PwC Middle East’s emerging technology teams. In order to watch “Ripple vs SEC” in the Cineverse viewers need to use Oculus VR headsets or augmented reality glasses. The doc is also available on MContent’s tokenised streaming platform. “The immersive cinema experience, designed in collaboration with PwC, has global scalability and mass adoption capability,” Umair Masoom, founder and CEO of MContent, said in a statement. Masoom added that by bringing the MContent Cineverse to a global audience they “want to increase funding and screening opportunities for thousands of independent filmmakers.” MContent, which touts itself as the world’s first tokenized content ecosystem, is launching a content consumption platform that aims to drive sustainable earnings for content creators and viewers. The idea behind the platform is to enable crowd funding of film and TV productions using cryptocurrency, NFTs and the MContent Cineverse. Having already funded an alleged eleven film projects from various parts of the world, they now plan to step things up using the parallel MContent Cineverse economy. Earlier this year, UAE conglomerate Gargash Group announced an unspecified major investment in MContent which claims that its native token ($MContent) is currently trading at a market cap of over $100 million on several markets. The platform plans to fund 100 global projects by the end of 2022. Story continues Best of Variety What's Coming to Disney Plus in April 2022 Everything Coming to Netflix in April 2022 2022 Final Oscars Predictions: The Collective Predictions in All 23 Categories Sign up for Variety’s Newsletter . For the latest news, follow us on Facebook , Twitter , and Instagram . Click here to read the full article. View comments || Bitcoin Investors De-Risking Ahead of March Interest Rate Hikes: The last week, saw the top crypto asset in a relatively volatile space as reports about Russia’s plans to invade Ukraine emerged . That said, numerous macro factors have given way to skepticism and volatility in the Bitcoin market including the tightening of Fed policy expected in March. Market Matures as Liquidity Deepens The Bitcoin derivatives market was shadowed by uncertainty with a flattening out of the futures term structure curve until March. That said, a Glassnode report pointed out that BTC futures premiums out to the end of 2022 are considerably low, trading at a mere 6% annualized, eliminating the possibility of a wild short-term price uptick. Notably, the futures term structure has flattened out through to March, in tandem with the expected rate hikes proposed by the Federal Reserve. With the top coin’s current trajectory looking rangebound, participants seem to be expressing a strong preference for protective put options to effectively manage market risk. In contrast, on-chain supply dynamics for Bitcoin still looked solid which was indicative of investors holding on to the top coin. Bitcoin still continued to flow out of reserves and into investor wallets at a rate of 42.9K BTC per month. This trend of net outflows has been sustained for around 3-weeks, supporting the current price bounce from the recent $33.5K lows. Overall, this speaks to the continuing maturation of the Bitcoin market, as liquidity deepens, and more comprehensive risk management instruments become available. This differs greatly in comparison to historical Bitcoin market cycles where de-risking was possible only by the sale of coins in spot markets. BTC Price Recovers While BTC’s turbulent price action has given way to many spot-driven sell-offs, long-term HODLers have been resilient. Since the October ATH, LTHs have spent only 175K BTC on net, demonstrating exceptional resilience, despite the prevailing macro headwinds. At press time, BTC’s price was headed towards the $45K resistance mark once again, trading at $44,200.20 noting a 4.68% rise in price over the last day. However, since BTC has faced considerable resistance at that mark another rebound from that price range could be expected. Story continues Overall, though, looking at the derivative and futures market the trend speaks to the continuing maturation of the Bitcoin market, as liquidity deepens, and more comprehensive risk management instruments become available. This article was originally posted on FX Empire More From FXEMPIRE: Bitcoin’s Inflation Narrative Boosts as USD Losses 97% Value vs BTC Super Bowl Host’s CEO: “Crypto Adoption Necessary in Public Companies” E-mini S&P Strengthens Over 4470.00, Weakens Under 4419.25 Coinbase Welcomes Former SEC Official Scott Bauguess Australian Dollar Continues to See Noisy Behavior Euro Bounces to Check 50 Day EMA for Resistance || Bitcoin Is Not “Digital Gold” – Yet: There’s always plenty of talk aboutBitcoinreplacinggoldas a safe-haven asset, but the recent market activity shows that Bitcoin and other cryptocurrencies remain far away from this goal. Yesterday, stocks found themselves under strong pressure on worries about the situation in Ukraine. The risk-off move was very strong, andS&P 500was down by more than 2%. Meanwhile, gold continued to move higher and made an attempt to settle above the psychologically important $1900 level as traders increased their purchases of safe-haven assets. Treasury yields moved lower as traders rushed to the safety of U.S. government bonds despite worries about high inflation. At the same time, cryptocurrencies were under strong pressure, and Bitcoin traded close to the $40,000 level. The crypto weakness was broad-based, and all leading cryptos includingETH,BNB,XRP,ADA,SOL,LUNAwere moving lower. The recent trading action has once again proved that Bitcoin is treated as a risky asset by investors. Yesterday’s trading was a major test for various assets as fears about a potential war highlight the assets that are considered to be safe havens. However, the safe-haven status is not necessarily bullish in the long term. If fears about the situation in the Ukraine decrease and the market becomes less worried about future Fed hikes, demand for riskier assets will increase, which will be bearish for gold and bullish for cryptocurrencies. At this point, it looks that crypto traders should keep an eye on the trading dynamics of tech stocks which shows the current appetite for risk in the tech space. When Nasdaq will start to rebound, the crypto market will have a good chance to develop sustainable upside momentum. In addition to Nasdaq, traders should also keep an eye on thetotal crypto market cap, as a move above the $2 trillion level will signal that bullish sentiment is increasing. Thisarticlewas originally posted on FX Empire • British Pound at the Top of Range • Silver Tests Resistance At $24.00 • EUR/USD Trapped by 50% Levels at 1.1308 and 1.1407 • Australian Dollar Continues to Chop • SOL Falls Back Below $100 As TVL Remains Under Pressure • Cardano Foundation Adds SBI Digital Asset Holding’s CEO to BOD || British Pound Has a Big Start to the Week Against the Yen: The British pound has shot higher during the early hours on Monday to reach the ¥154 region. This is an area that features the 50 Day EMA just above, which is an indicator that a lot of people will pay attention to, and it should be noted that it is sloping lower. That being said, we have bounced from the 200 Day EMA, suggesting that the market may squeeze in this general vicinity. It will be interesting to see how this plays out because you have to keep in mind that this pair is highly sensitive to risk appetite. GBP/JPY Video 15.03.22 I think that this pair will continue to be very noisy, but the market is swinging violently in both directions so the most important thing you can do is keep your position size relatively small, in order to protect your trading account. With that in mind, if we break above the ¥155 level, that would be a strong recovery, and then I might start adding on an attempt to break out above the recent highs. On the downside, if we break below the ¥152.50 level, then it is likely that we could go looking towards the ¥150 level. That is an area that is a major support level that extends down to the ¥149 level. About the only thing that you can count on at this point is going to be volatility, so keep that in mind. The markets should not be chased at this point, because the move has been so drastic. 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: Bitmain Launches the ‘Most Power-Efficient Bitcoin Miner’ to Date Crude Oil Plunges British Pound Has a Big Start to the Week Against the Yen Gold Markets Continue to Slide Why Moderna Stock Is Up By 18% Today Silver Retreats Towards $25.00 || War in Ukraine Weighs Down on Germany’s Growth Prospects in 2022: We have revised down our growth forecast for Germany for this year but are still expecting solid growth of 3.5%, compared with a previous estimate of 4.4%, amid rapid escalation of political tensions and sanctions following Russia’s further invasion of the Ukraine. This compares with somewhat stronger 2022 growth expectations for other major European economies such as France (4.2%) and the UK (4.6%). Continued economic recovery in 2022: GDP growth forecast Russia is Germany’s 13thlargest trading partner with a trading volume of around EUR 60bn, but this accounts for only 2.3% of Germany’s aggregate trade. The direct impact on trade resulting from the severe economic sanctions imposed on Russia since escalation of this war in Ukraine is therefore manageable at an aggregate level. However, Germany’s export-orientedeconomyand reliance of exporters on international suppliers implies that the war in Ukraine will result in further disruption particularly for the all-important German automotive sector given reliance on vehicle component manufacturers including those from Ukraine and Russia. Countersanctions from Russia, such as closing down the Russian airspace, will also increase transport costs to China, Germany’s largest trading partner. While such disruption is manageable, it is likely to erode profitability across a broader range of industry sectors. Data from the Bank for International Settlements show that German banks’ aggregate exposures to Russia fell significantly over the recent years and stood at USD 7.4bn at the end of 2021 (less than 0.5% of total claims). In the near term, other downside risks to German growth prospects remain outstanding. Many of such risks are external such as new Covid-19 waves, a further escalation of geopolitical risks or a significant slowdown ofeconomic growth in China. Particularly any shock that results in further global supply chain disruptions could derail Germany’s economic recovery and put our revised growth estimate for 2022 under further downside risk. The war in Ukraine and sanctions on Russia are also magnifying domestic pressures, notably inflation. German households already face the highest electricity prices in the EU and, in line with developments in most other European economies,pricesare continuing to increase. The risk of further escalation of this conflict and more severe sanctions in the energy sector remain substantive. Energy inflation rises across the EU: electricity prices incl./excl. taxes; energy inflation rate To help address rising energy costs, Germany released part of its national oil reserves in coordination with the International Energy Agency. Since more than half of the electricity price faced by German households is due to taxes, there is some scope to as well cushion the impact of higher energy costs vis-à-vis broad-based tax relief. However, inflationary pressures are likely to remain high. Besides disruptions to global energy exports, Russia and the Ukraine are among the five largestwheatexporters of the world, adding to price pressure in energy, food and other commodities over the medium run as such supplies are momentarily interrupted. More encouragingly, at least some of German manufacturers’ supply-chain problems are likely to prove temporary. If so, with order books across manufacturing sectors full, the German economy’s recovery might be slower than expected this year but continue robustly next year when we expect growth of circa 2.7%, above a pre-pandemic trend rate. Sustaining such growth depends critically on the reform agenda and investment priorities identified by the new coalition government, which need to be implemented. These priorities include targeted infrastructure spending, supporting a transition towards the low carbon economy and reducing bureaucracy. For a look at all of today’s economic events, check out oureconomic calendar. Eiko Sievert is a Director in Sovereign and Public Sector ratings atScope Ratings GmbH. Thisarticlewas originally posted on FX Empire • Silver Markets Break the Barrier • USD/CAD Gains Some Ground Ahead Of The Weekend • Spanish Telecom To Enter Crypto & Metaverse With Its Cryptocurrency • British Pound Falls Drastically During the Week • European Equities: A Week in Review – 04/03/22 • Another Bitcoin Core Update Could Roll Out in April || Daily Gold News: Tuesday, Apr. 12 – Gold Extends its Short-Term Fluctuations: Thegoldfutures contract gained 0.13% on Monday, Apr. 11, as it fluctuated following its Thursday’s-Friday’s advance of around 1.2%. The yellow metal’s price keeps fluctuating above the $1,900 level after the early March rally and subsequent decline. This morning gold is trading slightly higher, as we can see on the daily chart (the chart includes today’s intraday data): Gold is 0.3% higher this morning, as it is still trading above the $1,950 level. What about the other precious metals?Silveris 0.2% lower, platinum is 1.1% lower andpalladiumis 2.8% lower.So the main precious metals’ prices are mixed this morning. Yesterday we didn’t get any new important economic data releases. The markets will be waiting for today’s important Consumer Price Index release at 8:30 a.m. The markets will continue to react to the ongoing Russia-Ukraine war news. Below you will find ourGold, Silver, and Mining Stockseconomic news schedulefor the next two trading days. Tuesday, April 12 • 5:00 a.m. Eurozone – German ZEW Economic Sentiment • 8:30 a.m. U.S –CPI m/m, Core CPI m/m • 12:10 p.m. U.S. – FOMC Member Brainard Speech • 1:01 p.m. U.S. – 10-y Bond Auction • 2:00 p.m. U.S. – Federal Budget Balance Wednesday, April 13 • 2:15 a.m. Japan – BOJ Governor Kuroda Speech • 8:30 a.m. U.S. –PPI m/m, Core PPI m/m • 10:00 a.m. Canada – BOC Monetary Policy Report, BOC Rate Statement, Overnight Rate • 11:00 a.m. Canada – BOC Press Conference • 1:01 p.m. U.S – 30-y Bond Auction • 9:30 p.m. Australia – Employment Change, Unemployment Rate Paul RejczakStock Trading StrategistSunshine 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. 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. Thisarticlewas originally posted on FX Empire • Bitcoin and ETH Recovery Could Fade, ADA Turns Bearish • Chevron Is Up By 3%, Here Is Why • Crude Oil Markets Bounce Back From a Major Trendline • Everything You Need to Know About Leveraged Tokens like TRXUP & BTCUP • Gold Prices Rise as Yields Slip Despite Robust Headline CPI • British Pound Continues to Threaten Major Support Level || How Would Digitizing Global Supply Chain of Gold Bars Affect Investors?: The World Gold Council (WGC) and London Bullion Market Association (LBMA) have announced aneconomiccollaboration aimed at digitizing the global goldsupply chain— instilling more confidence in the product’s provenance while removing fraudulent bars, all thanks to blockchain technology. Gas Stimulus:Live Blog UpdatesFind:Can Gold and Bitcoin Coexist in a High-Inflation Environment? Why You Should Hold Both Investments As such, the newly minted Gold Bar Integrity Program will support greater industry alignment to ensure the future growth of the international gold market. The program would ostensibly provide an international system of gold bar integrity focused on chain of custody and provenance, the organizations said. Over time, the program may help consumers, investors, and market participants to trust that their gold is genuine as well as having been responsibly and sustainably sourced. David Tait, CEO of World Gold Council, told GOBankingRates that the Gold Bar Integrity Program is about developing and implementing a global, transparent ledger and database of gold bars. “Blockchain is the technology that the gold industry needs to turn our ambitions into reality,” Tait said. Tait explained that for investors, this new database will mean fraudulent and misrepresented bars are gradually removed from the system — giving buyers (and sellers) confidence that their gold is genuine. “It will go further than that, helping all market participants to know where their gold has come from and that it has been responsibly sourced. Ultimately, I believe this will help tackle barriers to investment and improve participation in the gold market,” he added. This initial phase will see two distributed ledger companies — aXedras and Peer Ledger — demonstrate how blockchain can best deliver a global ecosystem that will create an immutable record of a gold bar’s place of origin and chain of custody. This blockchain-backed ledger will register and track bars, capturing the provenance and full transaction history. “For over a year, we’ve been working in partnership with the LBMA to unite the supply chain and we’ve had an overwhelmingly positive response from the global gold industry,” Tait said, adding that for the pilot phase of this program, “we have major players raising their hands to participate.” Tait added that said players include miners from the WGC membership — such as Barrick Gold Corporation, Newcrest Mining Limited and Newmont Corporation. “We have prominent participants from across the global value chain such as Brinks, Rand Refinery, CME Group, The Perth Mint, and Pro Aurum taking part. Once the pilot phase is complete, I am confident we will see more and more organizations sign up to the program,” he said. The WGC hopes to complete the pilot phase this year, and will then formally appoint one of the two distributed ledger companies taking part in the pilot to expand the database to the whole supply chain, he said. According to Tait, the Gold Bar Integrity Program will address a number of challenges in the industry – perhaps most importantly, provenance and transparency. “But for me, the key problem we will solve is trust,” he said. “I believe that improving trust amongst the investor community is paramount to unlocking demand for gold. And we won’t stop there.” He added that “this is where Gold 24/7 comes in” — a project concerned with the WGC’s three main ambitions to improve accessibility, fungibility and transparency / integrity in the gold market. The launch of the integrity program is the critical, foundational work that needs to be embedded in the industry so to move the asset class forward, Tait said. Learn:7 Best Blockchain Stocks To Buy Right NowExplore:7 Ways To Invest in Gold: A Guide for Investors “The industry is now working together on integrity which opens the door to the future, where we will create more fungible markets that are accessible and relevant to a broaderinvestment audience,” he concluded. More From GOBankingRates • Food Stamps: Can You Use Your SNAP EBT Card at Gas Stations? • 30 Biggest Do's and Don'ts When Buying a Car • How to Easily Add $500 to Your Wallet This Month • 35 Useless Expenses You Need To Slash From Your Budget Now This article originally appeared onGOBankingRates.com:How Would Digitizing Global Supply Chain of Gold Bars Affect Investors? || Valkyrie Investments Offers Treasury Management Service to Blockchain Projects: Digital asset manager Valkyrie Investments is now offering a treasury management service to blockchain projects. • The aim of the service is to enable blockchain projects to better manage their balance sheets,Valkyrie announced Wednesday. • The treasury management service will offer cash flow management, proprietary investing and advanced reporting. • As its first client,Valkyrie has secured NEM/Symbol, two layer 1 protocols that agreed to merge last year. • Valkyrie is aiming to help such projects focus on their job at hand while leaving "the administration of their war chest to professional asset managers," according to the announcement. • While such services have always been available for corporate clients via traditional financial firms, Valkyrie is looking to attract blockchain projects using its status as a recognized name in digital asset management. Read more:Valkyrie Bitcoin Miners ETF Approved for Nasdaq Listing CORRECTION:Feb. 23 19:23 UTC):)A previous version of this article incorrectly stated that NEM and Symbol had already merged, and that NEM markets Symbol. || EUR/USD Tests Support At 1.0865: Key Insights EUR/USD managed to move away from yesterday’s lows. However, EUR/USD remains under some pressure amid uncertainty over the near-term fate of the European economy. A move below 1.0865 will push EUR/USD towards the support level at 1.0840. Traders Will Likely Ignore Economic Reports And Stay Focused On Geopolitical Developments EUR/USD is currently trying to settle below the support at 1.0865, while the U.S. dollar is mostly flat against a broad basket of currencies. The U.S. Dollar Index is testing the resistance level at 99.20. A successful test of this level will push the U.S. Dollar Index towards the next resistance at 99.45, which will be bearish for EUR/USD. Today, foreign exchange market traders will have a chance to take a look at the third estimate of the fourth-quarter Euro Area GDP Growth Rate . The report is expected to show that Euro Area GDP increased by 0.3% on a quarter-over-quarter basis. The final reading of the fourth-quarter Euro Area Employment Change report is expected to indicate that employment improved by 0.5% on a quarter-over-quarter basis. It remains to be seen whether these reports will have any impact on EUR/USD dynamics as the European economy is currently operating in a completely different environment. Technical Analysis EUR/USD continues its attempts to settle below the support level at 1.0865. In case EUR/USD manages to settle below this level, it will head towards the next support at 1.0840. A move below the support at 1.0840 will push EUR/USD towards the support at 1.0820. If EUR/USD gets below this level, it will head towards the next support at 1.0800. On the upside, the nearest resistance level for EUR/USD is located at 1.0885. RSI is in the oversold territory, so there is plenty of room to gain additional upside momentum in case the right catalysts emerge. If EUR/USD settles above 1.0885, it will head towards the resistance at 1.0900. A successful test of this level will push EUR/USD towards the resistance at 1.0930. 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: EUR/USD Tests Support At 1.0865 Bitcoin (BTC) Falls Again as Bears Target $35,000 GBP/USD Tests Support At 1.3110 BITO: Rising Tensions in Europe Creates Opportunities for Bitcoin Despite Strong Uptrend, Gold Vulnerable to Reversal Top Holding 115.375 Could Trigger USD/JPY Rally into 115.805 || Crypto Funds Draw Inflows for Second Straight Week: Don't miss CoinDesk'sConsensus 2022, the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12. Cryptocurrency funds attracted inflows for the second straight week, with nearly all of the new investment going into European funds. Digital-asset funds saw $180 million of net inflows in the seven days through April 1, according to aCoinSharesreport published Monday. The amount represented a decline from a revised $244 million of inflows reported for the prior week, CoinShares said. About 99% of the inflows went into European funds, with the rest into Americas-based funds. Broken down by fund providers, ETC Group led with an inflow of $87 million. Purpose Bitcoin ETF suffered an outflow of $43 million, widening from the $16 million of redemptions the prior week. This is the fourth week Purpose has experienced outflows since a $130 million inflow in the week through March 4. Short-bitcoin investment products, which generate return based on the reverse price action of bitcoin (BTC), saw an inflow of $9 million, denoting a sentiment against the general trend. Bitcoin-focused funds drew $144 million, and $23 million went into funds focused on Ethereum (ETH). Funds focused on Solana (SOL) saw inflows of $8.2 million, down from of $87 million the week before. Funds focused on Cardano (ADA) took in $1.8 million, the same as the week before. CoinShares revised the prior week's inflows to $244 million, from a previously reported $193 million. [Random Sample of Social Media Buzz (last 60 days)] None available.
Trend: down || Prices: 39935.52, 40553.46, 40424.48, 39716.95, 40826.21, 41502.75, 41374.38, 40527.36, 39740.32, 39486.73
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] Not fully available. [Random Sample of News (last 60 days)] EUR/USD Daily Forecast – U.S. Dollar Remains Under Pressure: EUR/USD Video 21.09.20. Euro Starts The Week On A Positive Note EUR/USD continues to trade above the 20 EMA at 1.1840 as the U.S. dollar is losing ground against a broad basket of currencies. The U.S. Dollar Index continues its attempts to get below the strong support level at 92.80. In case the U.S. Dollar Index manages to settle below this level, it will gain more downside momentum which will be bullish for EUR/USD. Today, EUR/USD trading dynamics will mostly depend on general market sentiment since neither U.S. nor EU will release any important economic reports. European Central Bank President Christine Lagarde is scheduled to speak later today but the market does not expect any surprises from this speech. At this point, the worsening situation on the coronavirus front in Europe did not put any pressure on the euro. However, some European countries start to reimpose virus containment measures and the confidence in the recovery of the European economy may decline. On Wednesday, traders will have a chance to evaluate the speed of this recovery as EU will provide flash readings of Euro Area Manufacturing PMI and Services PMI for September. Manufacturing PMI is expected to increase from 51.7 to 51.9 while Services PMI is projected to stay flat at 50.5. Any weakness in Euro Area PMI reports may put pressure on EUR/USD. Technical Analysis EUR/USD continues its attempts to get to the test of the nearest resistance level at 1.1910. This level has already been tested several times in September and proved its strength. In case EUR/USD manages to settle above 1.1910, it will gain more upside momentum and head towards the next resistance at 1.1965. A successful test of the resistance at 1.1965 will open the way to the test of the next resistance at 1.2000. On the support side, the 20 EMA at 1.1840 still serves as the main support level for EUR/USD. A move below the 20 EMA may lead to a sell-off and push EUR/USD closer to the next important support level at the 50 EMA at 1.1765. Story continues From a big picture point of view, EUR/USD remains range-bound between the support at 1.1765 and the resistance at 1.1910, and it will likely gain strong momentum once it moves out of this range. 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: Natural Gas Price Fundamental Weekly Forecast – Next Major Move Hinges Upon LNG Demand Bitcoin and Monero’s XMR – Weekly Technical Analysis – September 21st, 2020 Current Position of the Market EUR/USD Daily Forecast – U.S. Dollar Remains Under Pressure Rising Oil Short; Specs Left Blindsided in Natural Gas and Coffee RESERVE BANKING – THE ELEPHANT IN THE ROOM || How Activist Investors Can Help the Digital Assets Industry Mature: Following the 2008 financial crisis, both Main Street and Wall Street agreed that power was too concentrated at the financial institution level. People wanted more control, birthing the era of Bitcoin, and later, other forms of digital assets. The digital assets movement was based on putting power back in the hands of customers, users, and communities – to democratize decision making, governance and value accrual. However, the 2017 ICO boom turned into a money grab for easy financing without proper governance and oversight built into the tokens or their issuing companies. ICOs were often done quickly and without proper details, forcing investors to give project leaders the benefit of the doubt that as their project matured, it would self-govern. This need for self-regulation was evident back in 2018, whenearly discussions around token governancewere first formulated. The venture capitalist Mikal Khoso wrote: Related:A New Social Contract for the Digital Age “Part of the maturation of the ICO as a fundraising mechanism will be the establishment of frameworks for what rights token ownership should afford investors. Ideally the market will self-regulate and create these frameworks.” Unfortunately, this has not happened. Token holders are left with little recourse on how to force companies and their management teams to follow through on their initial promises. Jeff Dorman, a CoinDesk columnist, is chief investment officer at Arca where he leads the investment committee and is responsible for portfolio sizing and risk management. He has more than 17 years of trading and asset management experience at firms including Merrill Lynch and Citadel Securities. This is less of a problem in traditional finance, where debt and equity markets have clearly defined stakeholder structures for investor recourse, resulting in governance systems that protect investor interests and prevent rogue executives from running amok with a company. That said, many investors incorrectly believe that owning debt or equity ensures that you have direct control over a company’s assets. Related:DAOs Will Never Govern the World (at This Pace) If a company has $100 million in cash on the balance sheet, the only claim you have on those assets is if the company files for bankruptcy. Otherwise, this cash only directly benefits debt and equity holders if there is governance in place to prevent management from making terrible decisions (i.e. an independent board of directors), or if you trust management to create a high return on this cash. To date, digital assets investors have yet to be shielded by similar legal and market protections. So where do you find checks and balances in the digital assets industry when token issuance is not regulated and legal precedent has not yet been set for token holders’ rights? Token holders have rights, even if not explicitly laid out in a white paper or a court of law. Often management teams are aligned with their investors and this is not an issue. In cases where they are not, investors can force change. A recentWillis Towers Watson reportsuggested that a primary role of investors is stewardship. “Arguably, good stewardship is the most useful function the asset management industry performs,” it said. Activist investors are often portrayed negatively. They are viewed as self-interested, when in reality, their efforts are typically beneficial to all stakeholders. An “activist,” by definition, is merely an agent for change, and in many cases, it is only the activist investor who can see clearly and objectively enough to help a company recognize that change is needed. In fact,according to McKinsey, it is beneficial for companies to role-play and think like an activist investor, to help uncover their own internal blind spots. “Done well, an activist role-play approach is substantially more provocative than a standard strategy review. The tone can be aggressive, even confrontational. Adopting an activist perspective can help set a higher bar for operating improvements,” McKinsey said. The growth in ESG investing (environmental, social and governance) has shown that investor pressure can influence company decisions even without having any legal rights. BlackRock, the world’s largest asset manager,released an open letterwarning companies that it would “be increasingly disposed to vote against boards moving too slowly on sustainability”. In BlackRock’s words, social purpose “is the engine of long-term profitability.” Essentially, companies are being held accountable simply by the threat of losing access to strong investor bases. They want management teams to protect more than just shareholders; they want them to protect all stakeholders, which includes employees, the environment, their city and their social surroundings. See also: Jeff Dorman –Amazon Prime Membership Should Have Been a Tokenized Asset Recently, Arca has played the role of an “activist investor” in the digital assets space bysubmitting a proposal to Gnosisafter uncoveringwhat we consider to be gross mismanagement of resources, a lack of internal controls and fiduciary responsibility, and an un-communicated roadmap that strays away from their original white paper. While we have yet to see any tangible benefits, our conversations with Gnosis have spurred them to announce that they will redo their tokenomics for the GNO token, including more collaboration and input with token holders and community members. This is the ethos of digital assets. Token holders have rights, even if not explicitly laid out in a white paper or a court of law. Our right is to stand up to management teams and project leaders who are making misaligned, or outright negligent decisions, and to pressure them through the court of public opinion to do right by their token holders and communities. By highlighting blind spots, mismanagement, or projects veering off course, we, token holders, can move this industry forward. This is something that Arca feels strongly about and is part of our core values. The digital assets ecosystem needs to adopt the best practices of traditional finance. A strong governance system is one element that will help keep companies in this space on track and will hold them accountable. The digital assets industry should welcome this movement, since the genesis of digital assets was to give more control back to the community. • How Activist Investors Can Help the Digital Assets Industry Mature • How Activist Investors Can Help the Digital Assets Industry Mature || Market analysts call for new Bitcoin all-time high: Bitcoin is on track to set a new all-time high before the year is over, according to eToro analysts Simon Peters and David Derhy. The bullish forecasts come at a time when Bitcoin is trading at $13,400 having taken out a few key levels of resistance over the past week. Peters admits that while there is a chance that Bitcoin will slump back to the $12,000 level, investors “should not be worried” as consolidation in this area would add weight to the bullish narrative. Evaluating why Bitcoin has rallied recently, Peters added: “Notably PayPal announcing it would enable its users to pay for goods and services in cryptoassets. “This positive development was compounded by a discussion earlier in the week on the IMF’s Cross Border Payments Panel, in which Federal Reserve chairman Jerome Powell reiterated that a US CBDC continues to be on the radar, whilst also opening the door for private firms to get involved in the endeavour.” BTCUSD chart by TradingView Bitcoin’s recent run has been remarkable but that doesn’t mean it lacks substance, with fundamental factors falling into place ahead of potentially the first bull market since 2017. Derhy continued: “The current run could simply push through all the way to $14,000. If that is the case, then the next level from a technical and fundamental perspective would be $20,000. “With the US election coming up next month, further economic stimulus from the government is going to happen even if the size of that stimulus is still up for discussion. I am of the view that we won’t see a drop back down below $12,000 for a while yet. “With the reduced volatility we are seeing, institutional investors are more and more interested in buying bitcoin. Combine this with the host of listed companies also looking to add bitcoin to their balance sheets, and the springboard for bitcoin prices continues to look very positive.” For more news, guides and cryptocurrency analysis, click here . || Pfizer's COVID-19 Vaccine News Throws Bitcoin Rally Off Course: Bitcoin traded nearly flat but above the $15,000 level at press-time after going as low as $14,865.33 in a 24-hour period. What Happened:Bitcoin’s price fell by nearly $1,000 on Monday as stocks rallied afterPfizer Inc(NYSE:PFE) said its coronavirus vaccine was90% effectivein preventing COVID-19. “Bitcoin’s retracement through the $15,000 level is a continuation of the gradual move downward during the past few days,” eToro Managing Director Guy Hirschtold CoinDesk. The apex cryptocurrency is entering into “whipsaw markets that follow huge gains” in the short-term, according to Cindy Leow, portfolio manager for 256 Capital Partners. “We see immediate support at BTC’s monthly [volume-weighted average price] of $14,700, from which BTC has steadily bounced off of, indicating that buyers still maintain control,” Leow told CoinDesk. Altcoins mostly followed Bitcoin into negative territory with Ethereum (ETH) falling 0.51% to $448.31, Bitcoin Cash (BCH) falling 1.96% to $262.26, and Litecoin declining 2.26% to $59.01. XRP (XRP) and Monero (XMR) fell 0.79% and 1.58% respectively to $0.25 and $116.31. Chainlink (LINK) gained 2.75% to $12.80, bucking the trend. Why It Matters:The S&P 500gained3.2% on Monday following news of Pfizer’s COVID-19 vaccine. Chris Zaccarelli, chief investment officer for Independent Advisor Alliance described it as a “game changer” for investors but cautioned on the longevity of the perfect storm. Vaccine pushed stocks of companies that had seen their business undermined by the pandemic, including travel companies such asCarnival Corp(NYSE:CCL) andUnited Airlines Holding Inc(NASDAQ:UAL). Bitcoin is sometimes viewed as a safe haven and such a status was underscored when, for example, the price of the cryptocurrency rose and fell intandemwith escalating or de-escalating tensions between the U.S. and Iran in 2019. On Monday, Gold had reportedly fallen to $1,849.93, the lowest since Sept. 28 after the Pfizer news emerged. Spot Gold gained 1.4% to 1,886.65 at press time as investors turned to the precious metal to hedge inflation arising due to possible coronavirus-related U.S. stimulus measures in the future. Price Action:Bitcoin traded 0.51% lower at $15,345.10 at press time. See more from Benzinga • Click here for options trades from Benzinga • Amazon Enters The Lucrative Disney-Dominated Cricket Streaming Market In India • Ford Looks To Clear Air Around Mustang Mach-E EPA Range, Says Fully Expects To Meet Target © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || MicroStrategy Is Looking to Buy More Bitcoin, President Says: MicroStrategy is looking to add to its $521 million stash of bitcoin, the company’s president said Tuesday during the business intelligence firm’s earnings conference call. MicroStrategy bought $250 million in bitcoin (BTC) on Aug. 11. It purchased an additional $175 million in bitcoin one month after that. Bitcointreasuries.org says the business intelligence firm now holds 38,250 BTC, or 0.182% of bitcoin’s total supply. With the recent rise in BTC’s price, its holdings are now worth $521 million, a 22% premium over the $425 million investment. Related: 'Garbage' Market Data Is Holding Bitcoin Back: MicroStrategy CEO Now it wants more. “You should expect that we will purchase additional bitcoin as we generate cash beyond what we need to run the business on a day to day basis,” MicroStrategy President Phong Li said. Read more: MicroStrategy Buys $175M More in Bitcoin, Upping BTC Holdings to $425M Li made the comments shortly after the company reported Q3 revenue rose 6.4% year-over-year and notched a net loss of $14.2 million. On a non-GAAP basis, the company posted a profit of $19.8 million, or $2.06 per share, up from $11.6 million, or $1.13 a year ago. Related: JPMorgan Calls Square's $50M Bitcoin Investment 'Strong Vote of Confidence' for the Cryptocurrency Besides the 22% return on its BTC investment, the company has seen another benefit from its foray into cryptocurrency – increased visibility. “We’ve seen a notable and unexpected benefit from our investment in bitcoin in elevating the profile of the company in the broader market, Li said. “This is benefitting our reputation overall, raising our mindshare among prospective customers.” CEO Michael Saylor, who has vocally championed BTC since early September, further explained during the earnings call that MicroStrategy’s bitcoin reserves are paying dividends across recruiting, marketing and the MicroStrategy brand. He also compared the bitcoin network to “a digital monetary network that doesn’t bleed monetary energy.” Story continues “As more entities start to understand that idea, which is pretty compelling, the adoption of bitcoin increases,” he said. The executive’s statement caps a wild three months at the business intelligence firm; executives first hinted at a bitcoin future in the firm’s Q2 call. MicroStrategy’s share has risen over 40% since Saylor’s first bitcoin disclosure on Aug. 11. Share price aside, the bitcoin storyline has definitely boosted the company’s profile. The shift began on July 28, when during the Q2 earnings call executives mulled allocating $250 million into “alternative assets” over the next 12 months as a hedge against the weakening dollar. Bitcoin, they said, was one of the possible “alternatives.” It turned out to be the only alternative. All this from a company whose business model has nothing to do with crypto. Before bitcoin, MicroStrategy’s only interaction with the blockchain space was its $30 million sale of the Voice.com domain name to EOS in 2019. Read more: MicroStrategy Buys $250M in Bitcoin, Calling the Crypto ‘Superior to Cash’ Saylor nevertheless framed the bitcoin holdings as an “example of MicroStrategy’s embrace of virtual technologies” in his Q3 earnings call preview. With BTC now recognized as MicroStrategy’s “primary treasury reserve asset,” the firm said in its statement it could raise or lower its total holdings as necessary. But from Li’s comments and from what BTC has done for the company’s visibility and its finances, it looks like the firm’s preference right now is to boost its holdings, and soon. Related Stories MicroStrategy Is Looking to Buy More Bitcoin, President Says MicroStrategy Is Looking to Buy More Bitcoin, President Says || Institutions Take Record Bullish Bets in Bitcoin Futures, Shrugging Off Exchange Missteps: Institutions recently raised their bullish bets in bitcoin (BTC) futures listed on the Chicago Mercantile Exchange (CME) to the record level set last month amid signs of market maturity. In the week ended Oct. 13, institutional investors increased long positions by over 9%, taking the tally of bullish bets to the record high of 3,500 contracts reached in mid-September. The numbers were revealed by the Commitment of Traders (COT) report published by the U.S. Commodity Futures Trading Commission (CFTC) on Friday. The cryptocurrency’s price reached multi-week highs above $11,700 during the seven days to Oct. 1, confirming a breakout on technical charts. BTC’s recent resilience to several exchange-related issues may have given institutions the confidence to increase their bullish bets. The cryptocurrency remained largely bid above $10,000 earlier this month despite news of the KuCoin exchange hack and U.S. regulators bringing criminal and civil charges against BitMEX. Similarly, buyers defended support at $11,200 on Friday after prominent crypto exchange OKEx suspended withdrawals . ‘Had these events happened last year, the [bearish] impact on bitcoin’s price would have been much greater,” Sui Chung, CEO of CF Benchmarks, said in a statement to CoinDesk. The derivatives market is now less dependent on exchanges like BitMEX and OKEx than a year ago. In September 2019, the two exchanges accounted for over 70% of the global BTC derivatives’ open interest. That number has now dropped to 40%. As such, the cryptocurrency is less sensitive to exchange-related issues. That’s a testament to the growing maturity of the cryptocurrency space, according to Chung. Are speculators bearish? Speculators or leveraged funds – hedge funds and various types of money managers that, in effect, borrow money to trade – increased their short positions by 4% to 14,100 – the record low seen in August. That does not necessarily imply bearish implications for price. According to Patrick Heusser , a senior cryptocurrency trader at Zurich-based Crypto Broker AG, cash and carry trading may have pushed bearish bets to record highs. “Cash and carry” is an arbitrage strategy that involves buying the asset on the spot market and taking a sell position in the futures market when the latter is trading at a significant premium to the spot price. Futures prices converge with spot prices on the day of the expiry, yielding a risk-free return to a carry trader. Story continues Also read: Bitcoin Price Dips 3% on OKEx News, Analysts Aren’t Too Worried Related Stories Institutions Take Record Bullish Bets in Bitcoin Futures, Shrugging Off Exchange Missteps Institutions Take Record Bullish Bets in Bitcoin Futures, Shrugging Off Exchange Missteps Institutions Take Record Bullish Bets in Bitcoin Futures, Shrugging Off Exchange Missteps Institutions Take Record Bullish Bets in Bitcoin Futures, Shrugging Off Exchange Missteps || ALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BCH: NEW YORK, NY / ACCESSWIRE / October 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/610951/ALT-5-Sigma-Digital-Instrument-Market-Summary-for-BTC-ETH-LTC-BCH || Bitcoin and Monero’s XMR – Weekly Technical Analysis – September 21st, 2020: Bitcoin rallied by 5.84% in the week ending 20thSeptember. Following on from a 0.54% gain from the week prior, Bitcoin ended the week at $10,934.5. It was a particularly bullish start to the week. Bitcoin rallied from a Monday intraweek low $10,259.0 to a Saturday intraweek high $11,185.0. Steering clear of the first major support level at $9,935, Bitcoin broke through the first major resistance level at $10,675 and the second major resistance level at $11,019. It was a bearish end to the week, however. Bitcoin fell back through the second major resistance level to wrap up the week at sub-$11,000 levels. 4 days in the green that included a 3.47% gain on Monday delivered the upside. A 1.47% slide on Sunday limited the upside for the week, however. Bitcoin would need to avoid a fall through $10,793 pivot to support a run the first major resistance level at $11,327. Support from the broader market would be needed for Bitcoin to break out from last week’s high $11,185. Barring an extended crypto rally, the first major resistance level and resistance at $11,500 would likely pin Bitcoin back. In the event of a breakout, Bitcoin could test the second major resistance level at $11,719 and resistance at $12,000 before any pullback. Failure to avoid a fall through the $11,793 pivot would bring the first major support level at $10,401 into play. Barring an extended sell-off, Bitcoin should steer clear of sub-$10,000 levels. The second major support level sits at $9,867. At the time of writing, Bitcoin was up by 0.28% to $10,964.6.  A mixed start to the week saw Bitcoin fall to an early Monday morning low $10,917.0 before rising to a high $10,993.0. Bitcoin left the major support and resistance levels untested at the start of the week. Monero’s XMR rallied by 8% in the week ending 20thSeptember. Following on from a 6.93% gain from the previous week, Monero’s XMR ended the week at $92.75. It was a mixed start to the week. Monero’s XMR fell to a Monday intraweek low $84.31 before finding support. Steering well clear of the first major support level at $78.57, Monero’s XMR rallied to a Saturday intraweek high $95.27. Monero’s XMR broke through the 23.6% FIB of $90 and the first major resistance level at $91.77 before easing back. A bearish end to the week saw Monero’s XMR slide back to $90 levels before steadying. Monero’s XMR fell back through the first major resistance level at $91.77 to test support at the 23.6% FIB of $90. Off the back of the late support, Monero’s XMR broke back through the first major resistance level to wrap up the week at $92 levels. 3-days in the green that included a 6.57% rally on Monday and 5.18% gain on Thursday delivered the upside. A 3.25% fall on Wednesday limited the upside for the week, however. Monero’s XMR would need to avoid a fall through the $90.78 pivot and 23.6% FIB of $90 to support a run at the first major resistance level at $97.24. Support from the broader market would be needed, however, for Monero’s XMR to break out from last week’s high $95.27. Barring an extended crypto rally, the first major resistance level and resistance at $100 would likely cap any upside. In the event of another breakout, Monero’s XMR could test the second major resistance level at $101.74. Failure to avoid a fall through the $90.78 pivot and 23.6% FIB would bring the first major support level at $86.28 into play. Barring an extended crypto market sell-off, however, Monero’s XMR should steer clear of sub-$80 levels. The second major support level sits at $79.82. At the time of writing, Monero’s XMR was up by 0.20% to $92.94. A mixed start to the week saw Monero’s XMR fall to an early Monday low $92.28 before rising to a high $93.25. Monero’s XMR left the major support and resistance levels untested at the start of the week. Thisarticlewas originally posted on FX Empire • The Week Ahead – Private Sector PMIs, Powell, Geopolitics, and COVID-19 in Focus • Ericsson to Buy U.S. Networking Company Cradlepoint for $1.1 Billion; Target Price SEK 110 • The Crypto Daily – Movers and Shakers – September 20th, 2020 • U.S Mortgage Rates Hold Steady thanks to the Dovish FED • Natural Gas Price Fundamental Weekly Forecast – Next Major Move Hinges Upon LNG Demand • GBP/USD Daily Forecast – Support At 1.2925 Stays Strong || Privacy Coin GRIN Is Victim of 51% Attack: Privacy-centric blockchain network Grin (GRIN) is undergoing a 51% attack, an event in which a miner (or miners) acquires more than 50% of the network’s mining hash power and takes control, according to a notice at the bottom of the Grin protocol’s website . According to 2miners.com , which is responsible for 19.1% of the current hash power on Grin, the unknown miner(s) grabbed control of 57.4% of the network’s hash power. While the attack is underway, the protocol is warning users to wait for extra confirmations on transactions for payment finality. Grin, which was the first cryptocurrency to test privacy protocol MimbleWimble and drew an estimated $100 million in venture capital to mine it , was once called “Bitcoin 2.0.” GRIN coins were down 2.23% to $0.235 at press time. See also: Ethereum Classic’s Terrible, Horrible, No Good, Very Bad Week Related Stories Privacy Coin GRIN Is Victim of 51% Attack Privacy Coin GRIN Is Victim of 51% Attack Privacy Coin GRIN Is Victim of 51% Attack Privacy Coin GRIN Is Victim of 51% Attack || Cryptographers Are Always Going to Be ‘One Step Ahead’ of Regulators: Monero’s Spagni: While regulators are trying to restrict privacy in crypto, their efforts may be futile, according to privacy-centric protocol Monero’s maintainer, Riccardo “Fluffypony” Spagni. “The U.S. Internal Revenue Service (IRS) wants the same level of insight [into monero] as they have over digital dollars in bank accounts; however, cryptographers and researchers are always going to be one step ahead on privacy,” Spagni told CoinDesk. Launched in April 2014, monero (XMR) is a private, secure and untraceable cryptocurrency. The protocol allows transaction participants to obfuscate their identities and hide the amounts transferred from third parties, except for those they designate. Related:First Mover: Monero Leads Privacy-Coin Rally as Bitcoin Trips on Path to $12K Protocols offering privacy have become the focal point of regulators and law enforcement agencies when the race among central banks to launch sovereign digital currencies is heating up. The IRSrecently hiredblockchain analytics firms Chainalysis and Integra FEC to develop transaction tracing tools for monero and layer 2 protocols. In June, Chainalysisadded supportfor monitoring transactions for privacy coins dash (DASH) and zcash (ZEC). Further, the U.S. Department of Justice (DOJ) published an extensive white paper, “Cryptocurrency: An Enforcement Framework“, on Oct. 8, citing the use of anonymity enhancing cryptocurrencies (AECs) that use non-public or private blockchains as a risk to anti-money laundering programs and controls put in place to combat terrorism-related finance. According to Spagni, who was lead maintainer of Monero until hestepped downlast year, regulators’ best bet is to apply controls at entry and exit points. “Payment service providers and merchant service providers are sorts of the points at which they can apply a degree of regulation. And that I think is feasible,” Spagni said. Related:Binance-Backed Privacy Mavens Release Tokenomic Lynchpin: 'Proof-of-Relay' For instance, a payment gateway facilitating monero or lightning transactions could ask users to verify location and charge sales tax. Similarly, if the user is dealing directly with a merchant service provider, the merchant would employ necessary checks before approving transactions. Read more:Monero Leads Rally in Privacy Coins, Rising to Two-Year Highs Besides, even if regulators succeed in developing some traceability solutions, monero is likely to fix the bugs, retaining privacy over the long run, according to one analyst. “Untraceable cryptocurrencies such as monero are here to stay,” Dr. Tom Robinson, co-founder and chief economist at blockchain analytics firm Elliptic, told CoinDesk in an  email. “In the short term, it may well be possible to find exploits in these systems and trace transactions to some degree, but these bugs will be fixed.” Over the weekend,monero implementedan upgrade codenamed “Oxygen Orion,” which includes a new ring signatures feature called compact linkable spontaneous anonymous group (CLSAG). That is expected to reduce transaction sizes by 25%, improving transaction verification times by 10% and boost security. An ideal world solution that limits backdoor entry into privacy protocols for regulators and law enforcement looks out of reach. “A system of controlled access would be fantastic; however, the thinking, though not bad, is just flawed,” Spagni said, adding that both well-meaning people and hackers could abuse the system. Besides, regulators continue to struggle to establish controlled access in traditional finance, where paper money still offers some privacy. “Traditional financial institutions are already comfortable with untraceable payments in the form of physical cash,” Elliptic’s Robinson said. In the days before the dot-com era, physical cash transactions dominated the global economic activity, and regulators and agencies relied heavily on active surveillance methods like monitoring behavior and actions to break cases. Currently, regulators and law enforcement agencies rely on passive surveillance like facial recognition systems, tracking bank accounts, and suspicious activity reports by financial systems. Spagni said agencies need to step up their game and not rely on passive surveillance or influx of information, which “ultimately results in false positives.” Read more:In Effort to Differentiate, Litecoin Makes a Move to Privacy There could be a better middle ground between regulators and privacy cryptocurrencies that facilitate legitimate financial investigations but avoid surveillance. “Our position is that financial privacy is important, and people should be able to pay for day-to-day expenses without having to fear hitting regulators’ radar and provide identity proofs,” David Jevans, CEO of blockchain forensics firm CipherTrace, told CoinDesk in a telephone interview. Monero has charted an impressive rally over the past few weeks despite the increased regulatory scrutiny anddour expert forecasts. The privacy coin rose to a two-year high of $135 last week, marking an over 90% rise from the lows near $75 observed in early September. The cryptocurrency is currently trading near $120, up 22.3% so far this month, the highest of any crypto asset valued above $1 billion, according to data siteMessari. Monero’s price has increased 173% on a year-to-date basis while bitcoin has gained 60% over the same amount of time, according to CoinDesk 20. CipherTrace’s Jevans believes monero has largely tracked bitcoin’s price, and the recent outperformance is mostly due to chart factors. “Speculators, algorithmic traders look to have fueled the price rally,” Jevans told CoinDesk, adding that people who care about monero haven’t been involved. That could be the case, as the broader market has remained bid since the March crash, and the majority of prominent cryptocurrencies, including ether (ETH) and the decentralized finance coins, have outshined bitcoin (BTC) by leaps and bounds. “The overall sentiment of crypto as a whole has turned fairly bullish as of late with monero’s gains simply outpacing those of other coins breaking out past some technical resistance at $95 and $115,” Connor Abendschein, a crypto research analyst at Digital Assets Data, told CoinDesk. Nevertheless, the price rally, regulatory inquiry, and potential traceability solutions could turn out to be net positives for monero. “It gets visibility in the market,” Jevans said. That governments and regulatory authorities are trying to clamp down on monero transactions suggests there is strong demand for the privacy token. Abendschein, however, maintains that the cryptocurrency would lose ground if Chainalysis succeeds in “consistently tracing” monero transactions, while Jevans foresees privacy coins falling to the backwaters of crypto markets if they fail to comply with regulatory requirements. That said, the international law firm Perkins Coiepublished a regulatory white papera month ago, detailing how regulated entities can comply with anti-money laundering obligations while supporting privacy coins. Read more:Zcash’s Electric Coin Company Shifts to Non-Profit Status Following Stockholder Vote “The AML [anti-money laundering] risks of privacy coins, while real, do not require specific, tailored regulations that may pose an unnecessary risk of stifling privacy coins’ growth. Rather, virtual assets service providers (VASPs) can adequately address those AML risks by maintaining an effective, risk-based program. Allowing VASPs to support privacy tokens undercurrent, tested AML regulations strike the appropriate policy balance between preventing money laundering and allowing beneficial, privacy-preserving technology to develop,” the white paper said. Regulated exchanges are already developing ways to support privacy coins in a compliant way. “Crypto exchanges that support zcash [also a privacy coin] are using Elliptic’s products toassess risk on zcash transactions,” Elliptic’s Robinson told CoinDesk. • Cryptographers Are Always Going to Be ‘One Step Ahead’ of Regulators: Monero’s Spagni • Cryptographers Are Always Going to Be ‘One Step Ahead’ of Regulators: Monero’s Spagni [Random Sample of Social Media Buzz (last 60 days)] None available.
Trend: up || Prices: 16716.11, 17645.41, 17804.01, 17817.09, 18621.31, 18642.23, 18370.00, 18364.12, 19107.46, 18732.12
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 2016-11-04] BTC Price: 703.23, BTC RSI: 60.43 Gold Price: 1303.30, Gold RSI: 60.54 Oil Price: 44.07, Oil RSI: 31.87 [Random Sample of News (last 60 days)] Your first trade for Wednesday, September 14: The "Fast Money" traders shared their first moves for the market open. Pete Najarian was a buyer of Lululemon(LULU). Dan Nathan was a seller of the Financial Select Sector SPDR Fund(NYSE Arca: XLF). Brian Kelly was a seller of the iShares MSCI Emerging Markets ETF(NYSE Arca: EEM). Guy Adami was a buyer of Allergan(AGN). Trader disclosure: On September 13, 2016, 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 was longAAPL, BAC, BMY, DIS, DISCA, GE, KMI, KMI.A, KO, LUX, PEP, PFE, VIAB; Long Calls: AAL, AMD, ABT, AKS, BAC, CIT, CNX, COP, CRM, CSCO, CYH, DISH, DVN, EGO, ETP, FSLR, FXI, GLD, GS, HALO, JBLU, KGC, KMI, KO, LLY, LULU, M, MS, MT, NEM, SBUX, SLV, SWKS, SYMC, TGT, TWTR, TTS, UA, VRX, XLE Long Puts: CLV, MBLY, MRO, TSLA, EEM. Brian Kelly was long Bitcoin, CME, DXJ, GDX, KBE, SLV, TLT, VXX, XLF, XOP, US Dollar UUP; he is short EUR=, JPY=. Dan Nathan was long TWTR, IWM long Sept put, long PYPL call calendar, XOP Sept put spread, BAC long Sept put, Long FEZ Nov put spread, long EEM Nov put spread, long FB Sept put spread, AAPL long Nov 105/95 put spread, long XLK Jan put spread. Guy Adami was long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck. || You're So Money: NY Judge Rules Bitcoin Qualify As 'Funds': A New York judge ruled bitcoin qualifies as money as part of a judgment related to a case over hacking attacks againstJPMorgan Chase & Co.(NYSE:JPM) and other companies, according to a report onFortune. The report said U.S. District Judge Alison Nathan in Manhattan rejected Anthony Murgio's bid to dismiss two charges regarding his alleged operation of Coin.mx. Prosecutors have called Coin.mx an "unlicensed bitcoin exchange." Related Link:What Is Blockchain, And Why Should You Care? But, Nathan ruled bitcoin satisfies the definition of a virtual currency. "Bitcoins are funds within the plain meaning of that term. 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," Fortune reported, quoting Nathan. Brian Klein, a lawyer for Murgio, said he disagreed with the decision. Last year, prosecutors charged Murgio over the operation of Coin.mx and in April charged his father, Michael, with participating in bribery to support the exchange. Full ratings data available on Benzinga Pro. Do you have ideas for articles/interviews you'd like to see more of on Benzinga? Please email [email protected] with your best article ideas. One person will be randomly selected to win a $20 Amazon gift card! See more from Benzinga • On Deck Has 'More Powerful Future Operating Leverage' © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bill Gross of Janus warns financial markets have become 'a Vegas casino': By Jennifer Ablan NEW YORK, Oct 4 (Reuters) - Global central bank policy makers have turned world financial markets into a casino, thanks to their unprecedented monetary policies, warned bond investor Bill Gross of Janus Capital Group on Tuesday. "Our financial markets have become a Vegas/Macau/Monte Carlo casino, wagering that an unlimited supply of credit generated by central banks can successfully reflate global economies and reinvigorate nominal GDP growth to lower but acceptable norms in today's highly levered world," Gross said in his latest Investment Outlook titled "Doubling Down." Gross, who oversees the $1.5 billion Janus Global Unconstrained Bond Fund, recommended Bitcoin and gold for investors who are looking for places to preserve capital. "At some point investors - leery and indeed weary of receiving negative or near zero returns on their money, may at the margin desert the standard financial complex, for higher returning or better yet, less risky alternatives," Gross said. Gross has been lambasting ultra-loose central bank policies for hindering global economies by keeping so-called "zombie" corporations alive and inhibiting "creative destruction." For several years, Gross and others have warned that zero and negative interest rates not only fail to provide an easing cushion should recession occur, but they destroy capitalism's business models. "A commonsensical observation made by yours truly and increasing numbers of economists, Fed members, and corporate CEOs (Jamie Dimon amongst them) would be that low/negative yields erode and in some cases destroy historical business models which foster savings/investment and ultimately economic growth," Gross said. He added: "Our argument is that NIMs (net interest margins) for banks, and the solvency of insurance companies and pension funds with long dated and underfunded liabilities, have been negatively affected and that ultimately, the continuation of current monetary policies will lead to capital destruction as opposed to capital creation." All told, Gross said central bankers have fostered a casino-like atmosphere that present "a Hobson's Choice, or perhaps a more damaging Sophie's Choice of participating (or not) in markets previously beyond prior imagination. Investors/savers are now scrappin' like mongrel dogs for tidbits of return at the zero bound. This cannot end well." (Reporting By Jennifer Ablan; Editing by Chizu Nomiyama) || Your first trade for Wednesday, September 21: The "Fast Money" traders gave their final trades of the day. Pete Najarian is a buyer of 58.com (WUBA). Tim Seymour is a buyer of Time Warner Cable (TWX(NYSE: TWX)). Brian Kelly is a buyer of Proshares Ultrashort Yen (YCS(NYSE Arca: YCS)). Dan Nathan is a seller of the Financial Sector (XLF(Mexico Stock Exchange: XLF-MX)). Trader disclosure: OnTuesday, September 20the 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, CME, DXJ, GDX, KBE, SLV, TLT, VXX, XLF, XOP, US Dollar UUP; he is short EUR=, JPY= Dan Nathan is Long TWTR, long PYPL call calendar, Long FEZ Nov put spread, long EEM Nov put spread, long XHB jan put spread, long XLK Jan put spread, XLU Dec call spread Tim Seymour is long APC, AVP, BAC, BBRY, CLF, 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. short: SPY, XRT; Tim's firm is long ABX, BABA, BIDU, CBD, CLF, EWZ, F, HD, KO, MCD, MPEL, NKE, PEP, PF, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, X, YHOO, short HYG, IWM, UAL Pete Najarian is long AAPL, BAC, BMY, DIS, DISCA, GE, KMI, KMIA, KO, LUX, PEP, PFE, VIAB CALLS: AAL, ABT, AMD, APC, BAC, BSX, CNX, COP, CRM, CS, CSCO, DAL, DISH, ETP, GS, GT, INTEL, JBLU, JCP, KGC, LLY, KMI, KO, LOW, M, SBUX, SLW, TMUS, TTS, TWTR, VRX, X, SLV, ATVI, WUBA Puts: CLF, EEM More From CNBC • Top News and Analysis • Latest News Video • Personal Finance || Your first trade for Wednesday, October 19: The " Fast Money " traders gave their final trades of the day. Pete Najarian is a buyer of Citi (C). Tim Seymour is a buyer of Avon (AVP). Brian Kelly is a buyer of Chevron (CVX). Guy Adami is a buyer of SuperValu (SVU). Trader disclosure: On Tuesday, October 18 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 l ong AAPL, BAC, DIS, DISCA, GE, KMI, KMIA, KO, LUX, MRK, PEP, PFE CALLS: AAL, ABT, AMD, ATVI, BABA, BAC, BBY, BHI, BSX, CNX, COP, COTY, CRM, CS, CSCO, CXW, DAL, DISH, ECA, ETP, gm, GS, HAL, INTC, JBLU, JCP, KBE, KGC, KMI, KO, LLY, LOW, M, MOS, MRO, MRVL, MUR, NAV, NBR, P, RIO, SBUX, SLV, TMUS, TTS, TV, TWTR, VRX, WFT, WLL, XLF. Puts: CLF, EEM, MBLY, WFC 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. short: SPY, XRT; Tim's 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 Brian Kelly is long Bitcoin, SLV and Silver Futures, US Dollar UUP; he is short EUR=, JPY= 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 || Cryptocurrencies like bitcoin may become a target in the fight against ransomware: David A. Kris CSIS ransomware bitcoin nationa security (David S. Kris speaking at a CSIS panel event in September 2016.CSIS) Many crimes can be solved by following the money, and that may hold true for the growth of ransomware attacks — though the money itself may be different. Countering the increasing use of ransomware — malware that attacks computers and networks and encrypts files, which criminals then demand payment in order to decrypt — may require action against hard-to-trace cryptocurrencies like bitcoin that are often used to pay the criminals behind the attacks, according to David S. Kris, former assistant attorney general at the US Department of Justice's national-security division. "I think the way to attack this — and I think the way you’re probably going to see some legal change over the next few years — is on the other end, with respect to the payments," Kris said during the question-and-answer session of a Center for Strategic and International Studies panel event . "And as I understand it — again, without having studied it too extensively — is that, you know, fintech is what is enabling this, cryptocurrency," Kris added. Reports of ransomware use have increased considerably in recent months. "In the last six to 12 months, this has just gone so aggressively to the business environment," Marcin Kleczynski, CEO of cybersecurity company Malwarebytes, told Business Insider in August . "We see companies from 25 people all the way to 250,000 people getting hit with ransomware." Malwarebytes ransomware survey (An Osterman research survey sponsored by Malwarebytes found that 54% of businesses surveyed had come under attack from ransomware in the 12 months through August 2016.Malwarebytes) Tech firm Kaspersky Lab said this summer that the number of victims attacked was growing at an alarming rate — up from 131,000 in 2014-2015 to 718,000 in 2015-2016, according to AFP. Some researchers have seen a 3,500% increase in the web infrastructure needed to run ransomware campaigns. According to Kleczynski, some banks have begun stockpiling bitcoin — which currently trades about about $600 to one — in case of a ransomware attack. "I talked to a couple of banks, and they say they have 50-100 bitcoin ready at all times in a wallet to deploy if a ransomware attack hits," he told Business Insider's James Cook . Story continues A report this summer found that hackers employing ransomware could pull in as much as $7,500 a month . And while individual victims are usually only hit with demands for a few hundred dollars , the likelihood that they will pay has made ransomware an appealing venture for hackers. And financial-services firms and individual people aren't the only potential targets. A NASCAR team admitted to paying hackers after its computers where hit with a ransomware attack. In August, security researchers demonstrated a ransomware attack on a smart thermostat , raising the possibility that Internet of Things devices will come into the crosshairs. Hackers have reportedly stolen $65 million worth of Bitcoins from a major Hong Kong exchange Bitfinex, which has now suspended all transactions (Hackers have reportedly stolen $65 million worth of Bitcoins from a major Hong Kong exchange Bitfinex, which has now suspended all transactions© AFP/File Philippe Lopez) The appeal of ransomware has no doubt been burnished by cryptocurrencies like bitcoin coming into the mainstream. " I personally would not be surprised to see over the next few years increasing regulation that maybe makes it more challenging for these kinds of anonymous, substantially untraceable — I don’t want to say it’s completely untraceable — payments to be made," Kris said during the CSIS event. "I think probably where you’re going to see legal change is in the area of the payment scheme. That may be wrong, but that’s sort of what I expect." However authorities choose to counter the use of ransomware, it's unlikely the threat will go away any time soon. "The extortion model is here to stay," a Kaspersky Lab expert said in a statement about rising ransomware attacks on Android users. NOW WATCH: Mac users are being attacked by malware that locks their computer and demands a $400 ransom — here’s how to protect yourself More From Business Insider Spanish police busted 30 people suspected of using a 'crypto-currency' to launder money One of 'El Chapo' Guzmán's chief money launderers is involved in a strange Hollywood kidnapping plot The ECB is getting rid of drug cartels' favorite currency || PayPal is homing in on high-growth areas: (BII)This story was delivered to BI Intelligence "Payments Briefing" subscribers. To learn more and subscribe, pleaseclick here. PayPal postedstrong resultsacross segments in Q3 2016, allowing the firm to increase its growth targets for the year without changing its margins — a good sign for the rest of the year. PayPal posted strong growth in two key metrics. The firm’s total payment volume (TPV) rose 28% year-over-year (YoY) to $87 billion in Q3 2016. That was likely driven partly by an increase in customers, which grew by 19 million YoY to 192 million during the quarter. But even as PayPal adds customers, those clients are getting more engaged — average interactions per customer rose to 30, from 27 in the previous year, during Q3. Increased engagement likely means that PayPal’s focus on high-growth areas, like mobile payments and P2P functionality, is helping to drive customers to the service. Continuing to find ways to grow engagement will likely shape PayPal’s development moving forward. The company is pushing hard into other high-growth areas in order to better become “an everyday essential financial service” for people worldwide. Two such initiatives highlighted in the call stood out: • Aggressive pursuit of Chinese and cross-border e-commerce:PayPal is expanding its partnership with Chinese e-commerce giant Alibaba so that Paypal will become a single-click buy button option on AliExpress, one of Alibaba’s largest marketplaces. PayPal customers are already interested in Chinese e-commerce —40 millionof the firm’s customers have made a purchase to China — so this could help them better channel that interest into purchasing. But it also could allow the firm to get a share of China’s fast-growing e-commerce market, and, if successful, could pave the way for more cross-border partnerships in the future. • Mobile in-store payments:The firm’s recent partnerships with Visa and Mastercard will allow PayPal’s wallet to be accepted in-store anywhere that accepts contactless payments from those cards. And in Europe, PayPal is partnered with Vodafone in markets like the UK, Italy, and Spain, to begin allowing users to pay via NFC. Physical stores present PayPal with a massive volume opportunity, and could help it better monetize some of its mobile and digital platforms through merchant processing fees, for example. These partnerships could also help keep customers loyal to PayPal for a wider variety of financial interactions rather than pushing them to a third-party, which could increase engagement. PayPal is an important piece of the larger payments ecosystem, but it's still just one piece. The rest of it included merchants, processors, acquirers, gateways, and more. Evan Bakker and John Heggestuen, analysts atBI Intelligence, Business Insider's premium research service, have compileda detailed report on the payments ecosystemthat drills 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. 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. To get your copy of this invaluable guide, choose one of these options: 1. Subscribe to an ALL-ACCESS Membership with BI Intelligence and gain immediate access to this report AND over 100 other expertly researched deep-dive reports, subscriptions to all of our daily newsletters, and much more. >>START A MEMBERSHIP 2. Purchase the report and download it immediately from our research store. >>BUY THE REPORT The choice is yours. But however you decide to acquire this report, you’ve given yourself a powerful advantage in your understanding of the payments ecosystem. More From Business Insider • THE MOBILE PAYMENTS REPORT: Market forecasts, consumer trends, and the barriers and benefits that will influence adoption • THE CONNECTED DEVICE PAYMENTS REPORT: Market opportunities, top stakeholders, and new use cases for the next frontier in payments • THE PAYMENTS INDUSTRY EXPLAINED: The trends creating new winners and losers in the card-processing ecosystem || 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 from The Economist explained. 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 by Paypal Holdings Inc (NASDAQ: PYPL ), Moneygram International Inc (NASDAQ: MGI ) or The 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 a recent 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.” Story continues 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. Full ratings data available on Benzinga Pro. Do you have ideas for articles/interviews you'd like to see more of on Benzinga? Please email [email protected] with your best article ideas. One person will be randomly selected to win a $20 Amazon gift card! Disclosure: Javier Hasse holds no interest in any of the securities or entities mentioned above. See more from Benzinga Apple, PayPal A Couple Of The Only Stocks That Traded Green Today © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 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 miners—Bitcoin Miner 60/THs and Litecoin Miner 1200MH/s—to 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. 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 visithttp://www.THMiners.com. SOURCE:THMiners Inc. via Submit Press Release 123 || 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 miners—Bitcoin Miner 60/THs and Litecoin Miner 1200MH/s—to 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 [Random Sample of Social Media Buzz (last 60 days)] #Anoncoin/#ANC price now: $0.150007, that's 0.00% change in 1hour. -0.10% past day, and 7.64% in the past week! #Bitcoin is $609.86 || Send 1.0 - 4.9 BTC today, get 20.00 - 98.00 BTC in 20 hours,Btc invest stock trade. http://ow.ly/OrKw3045MER  || #ChainCoin #CHC $0.000072 (13.70%) 0.00000011 BTC (10.00%) || 1 KOBO = 0.00000000 BTC = 0.0000 USD = 0.0000 NGN = 0.0000 ZAR = 0.0000 KES #Kobocoin 2016-10-25 12:00 pic.twitter.com/nCs5ZOkNpB || 1 KOBO = 0.00000000 BTC = 0.0000 USD = 0.0000 NGN = 0.0000 ZAR = 0.0000 KES #Kobocoin 2016-10-30 01:00 pic.twitter.com/TPhSRU4HyV || Send 5 - 99 BTC today, get 500.00 - 9900.00 BTC in 20-30 hours,High Yield Investing Plans . http://ow.ly/bhVq304HQwa  || BTC: $603.51, S: $19.22, G: $1323.00 | Act: 23,787 Open: 4032 BTC: 53,441.5 | Total: $32,264,521 http://goo.gl/U94Tki  #bitcoin || BTC - homeworker : C&amp;M Travel Recruitment Ltd: ??18000.00 - ??23000 per annum + plus… https://goo.gl/fb/pDNb2a  || 1 KOBO = 0.00000000 BTC = 0.0000 USD = 0.0000 NGN = 0.0000 ZAR = 0.0000 KES #Kobocoin 2016-09-06 05:00 pic.twitter.com/ToQSDH4cT4 || The Winklevoss brothers are speeding up SEC approval for their bitcoin fund: The Winklevoss brothers are spe... http://cur.lv/13bq90 
Trend: no change || Prices: 703.42, 711.52, 703.13, 709.85, 723.27, 715.53, 716.41, 705.05, 702.03, 705.02
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 2020-06-23] BTC Price: 9629.66, BTC RSI: 54.68 Gold Price: 1772.10, Gold RSI: 62.85 Oil Price: 40.37, Oil RSI: 64.72 [Random Sample of News (last 60 days)] Bitcoin’s correlation to stocks has declined significantly: Bitcoin’s correlation to stock index S&P 500 has declined significantly, hinting that the two asset classes no longer move in the same direction. The correlation between bitcoin and S&P 500, measured viaBTC/USDon Coinbase andS&P 500 futures, has touched a two-month low. The current correlation between the two asset classes is 0.15, which means it is nearly negligible. About a month ago, on April 16, the correlation was moderately positive at 0.53. Source: TradingView, The Block ResearchA near-zero correlation between two assets indicates that there is no relationship between them or that they do not move in the same direction. Correlation is expressed as a number between +1 and -1. +1 indicates an absolute positive correlation between two assets, meaning they always move together in the same direction. -1 indicates a total negative correlation, meaning two assets always move in opposite directions of each other. Having two low-correlated or uncorrelated assets in a portfolio helps lower overall volatility. © 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. || Australian, Japanese Shares Follow Wall Street Lower with Most Asian Markets Closed for May Day Holiday: The major stock indexes in Australia and Japan declined sharply on Friday, with most of their major Asian counterparts closed for May Day holidays. Weakness in the banking sector was primarily behind the selling pressure in Australia’s S&P/ASX 200 index. Miners also contributed to the weakness. Major banks such as Commonwealth Bank of Australia and Australia and New Zealand Banking Group (ANZ) saw their shares plunge more than 4.5% each. Additionally, shares of major minor BHP dropped 7.76%. The loss in Japan was spread across the board with shares of Tokyo Electron falling 5.51%. Japan’s Topix Index also fell 2.24% to end its trading day at 1431.26. The Australian share market wiped out a week’s worth of gains on Friday, ending sharply lower following a broad-based sell-off on Wall Street overnight. The benchmark S&P/ASX 200 Index settled at 5245.90, down 276.50 points or 5.01% on Friday. “Some of this is a reversal of recent gains but also the rot seems to be settling in that bank dividends are no longer the yield trade retail money had come to rely on,” said Karen Jorritsma, the head of equities at RBC Capital Markets. On Thursday, ANZ deferred its decision on whether to pay an interim dividend, while NAB slashed its dividend to 30 cents per share. In other news, a measure of Australian manufacturing showed activity contracting at its worst pace since 2009. That, coupled with news overnight that millions more Americans applied for unemployment benefits in April, darkened the mood after a relatively strong April. Additionally, signs of growing tensions with China, Australia’s biggest trading partner, added to investor jitters. The two governments are at odds over calls for an independent inquiry into the origins of the coronavirus, with China warning of possible repercussions for imports from the resource-rich country. Japanese shares retreated from a near-eight week peak on Friday, led by declines in chipmaking firms and as investors chose to re-shuffle the deck following a streak of earnings reports. The benchmark Nikkei 225 Index settled at 19619.35, down 574.34 or -2.84%.However, it did manage to eke out a 1.9% gain for the week. The index also climbed 6.7% in April, marking its best month since October 2017. In Tokyo, shares of semiconductor-related stocks tracked losses in their U.S. peers, after the Philadelphia semiconductor index tumbled 3.7% overnight. Traders also said the release of earnings reports prompted some investors to book profits ahead of a long holiday weekend. Markets in Japan will be closed until Wednesday for the annual Golden Week holidays. South Korean exports plunged in April at their sharpest pace since the global financial crisis as the coronavirus pandemic hit demand and paralyzed the global economy and supply chains. Exports slumped 24.3% year-on-year in April, trade ministry data showed on Friday, the worst contradiction since May 2009 but slightly slower than 25.4% plunge tipped in a Reuters survey. It slid 0.7% in the previous month. Thisarticlewas originally posted on FX Empire • FTSE Nearly Wipes Out Weekly Gains; Continental European Markets Closed • US Open – Tariffs, Earnings, Oil, Gold, Bitcoin • EUR/USD Weekly Price Forecast – Euro Slamming Into Major Resistance • EUR/USD Bullish Break Kick Starts Reversal to 1.13? • USD/JPY Price Forecast – US Dollar Fall Slightly Heading Into the Weekend • GBP/USD Price Forecast – British Pound Pulls Back From Resistance || Latest Bitcoin price and analysis (BTC to USD): Bitcoin is slowly but surely edging its way towards a major move in terms of price action as it continues to consolidate in a bullish manner beneath $10,000. It has now been consolidating within this level since the beginning of May as hype surrounding the recent Bitcoin halving continues to subside. Breaking out above $10,450 remains the key target to the upside as it has been a point of rejection on three occasions dating back to October. As previously stated in Coin Rivet’s daily analysis , breaking above the $10,450 level of resistance would indicate a change in behaviour that would be suggestive of a bull market reversal. If Bitcoin can lift itself into a bull market from here, coupled with the halving narrative and institutional investment, it could well find itself forming a new all-time high before the year is over. However, a break down in price from here would demonstrate how the asset class simply isn’t ready the topple the magnificent feat in 2017 when it defied critics by surging to $20,000. Levels of support remain at $8,830 and $7,800, although some analysts are predicting a correction to as low as $7,100 as this was the yearly open. Much of it also depends on the upcoming path of the US stock market, which has bounced back from coronavirus-induced lows to form a new all-time high. As Bitcoin is known as a hedge to the traditional financial system and fiat currencies, a period of economic downturn may be required for Bitcoin to truly come into its own. 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 Story continues 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. || Bitcoin’s intrinsic value is now in line with its market price, says JPMorgan strategist: Bitcoin’s intrinsic value, or the fundamental value, is now in line with its market value, according to JPMorgan strategist Nikolaos Panigirtzoglou. The gap between the two values “has now effectively closed” after the halving, said Panigirtzoglou in aresearch notepublished last week. In January, the strategistsaidbitcoin's intrinsic value is lower than its market price, meaning bitcoin was overvalued. Now that both values are in line, it indicates that bitcoin is rightly priced. The intrinsic value of an asset helps determine if it is overvalued or undervalued. JPMorgan calculates the intrinsic value of bitcoin by treating it as a commodity and by looking at its marginal cost of production, including computational power employed and electricity cost. Panigirtzoglou said bitcoin’s halving has helped close the gap between the cryptocurrency's intrinsic value and market price.“Given the halving of the bitcoin rewards that took place on May 11th, the intrinsic value estimate effectively doubled,” he said, adding that a 20% drop in bitcoin's hash rate after the halving and price decline also contributed to closing the gap. Bitcoin is currently priced at around $9,500 a piece. © 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. || MONDAY DEADLINE REMINDER: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against Canaan Inc. and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm: Los Angeles, California--(Newsfile Corp. - April 29, 2020) -The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Canaan Inc. (NASDAQ: CAN) ("Canaan" or "the Company") for violations of the federal securities laws. Investors who purchased the Company's securities pursuant and/or traceable to the Company's initial public offering ("IPO") on or about November 20, 2019, are encouraged to contact the firm before May 4, 2020. If you are a shareholder who suffered a loss,click here to participate. We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website atwww.schallfirm.com, or by email [email protected]. The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member. According to the Complaint, the Company made false and misleading statements to the market. Canaan claimed to engage in "strategic cooperation" which was really just a related-party transaction. The Company was in a weaker financial position than it reported. The Company removed many distributors immediately before the IPO, many of which were of dubious quality. Many of the Company's Chinese customers were not in the Bitcoin industry and were therefore not likely to buy its products again. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Canaan, investors suffered damages. Join the caseto recover your losses. The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics. CONTACT: The Schall Law FirmBrian Schall, Esq.,www.schallfirm.comOffice: [email protected] SOURCE: The Schall Law Firm To view the source version of this press release, please visithttps://www.newsfilecorp.com/release/55095 || Market Wrap: Stocks’ Carnage Drags Bitcoin Down to $9K: Coinbase announcedWednesdayit is considering listing Bancor’s BNT token, as well as 18 others, which already gave the asset’s global trading price aslight bump. “Coinbase’s goal is to offer support for all assets that meet our technical standards and which comply with applicable laws,” the announcement said. “As part of the exploratory process customers may see public-facing APIs and other signs that we are conducting engineering work to potentially support these assets.” Although Coinbase declined to comment further, it’s not hard to imagine why BNT made the list. The token project itself saw a resurgence in May, facilitating nearly$10 millionworth of trading volume and rising from roughly$0.20 a tokenat the start of the month to$0.85by the end. Bancor’s growth, despite the broader economic crisis in 2020, may be due to asystems upgradein April. But market analystAndrew Kangsaid the majority of transactions associated with the surge were related to awalletaffiliated with Bancor CTO Yudi Levi. According to the Bancor analytics siteBlockchair, BNT in particular was used in more than 10,457 transactions on Friday, May 29, out of 2.67 million transactions total since 2017. When asked about the surge, Bancor spokesperson Nate Hindman said the Bancor team practically invented automated market makers (AMMs), which he said are now organically popular. “After introducing AMMs in 2017 and having seen their meteoric rise in the last two years, we are thrilled to solve some of the key obstacles to their widespread adoption and continue to drive innovation in this key area of decentralized finance [DeFi],” Hindman said of the upgrade in April. “AMMs are now used in a wide range of DeFi products and protocols.” The network analytics site Dune Analytics estimates the decentralized exchange (DEX) software and token have been used to process more than$1.4 billionworth of transactions to date. Related:With Token Uptick and Israeli Election Work, It’s Been a Busy Year for Bancor’s Founders BNT’s growth comes as other DEX tokens have surged in recent months.Kyber Network (KNC)surged promptly after being listed by Coinbase inFebruary 2020and became one of this year’s hottest crypto assets. Ethereum-friendly DEX tokens like KNC and BNT appear to be increasingly lucrative in 2020. Yet, even after the jump, BNT tokens are now selling for far less than they were during the initial sale in 2017. The overall DEX system, however, is only growing in value as the Bancor team garners political clout in addition to their considerabletoken holdings. As such, some blogs continue to promote the idea that BNT is “undervalued.” It’s proving to be an eventful year for the Bancor team even beyond the token activity. On March 2, 2020, Israeli Prime Minister Benjamin NetanyahuthankedBancor co-founders Eyal Hertzog and Guy Benartzi, along with their business partner,LiquidAppsCEO Beni Hakak, for their “help” using “data” to win the March election. Hertzog and Benartzi were among roughly two dozen campaign leaders mentioned in both the victory speech and featured in theofficial photoof the celebration in Netanyahu’s office. Stepping back, the token founders – who declined to comment on the election – raised more than$153 millionin 2017 for the DEX project now servinghundreds of peoplea day. Still, it’s unclear if the crypto companies, Bancor and LiquidApps, had anything to do with this software system during the Israeli election. Most likely, the token founders were acting as private citizens rather than corporate donors or contractors. Either way, Israeli professor Anat Ben Dov said the Netanyahu campaign’s data strategy “was turning citizens into informants” by using both Facebook and a mobile app calledElector. This strategy encouraged voters toenter sensitive informationabout all Israeli citizens, Ben Dov said. “The more people you added to the app, the higher your rank was. You could get stars, like military ranks,” Ben Dov said of the app’s gamified leaderboard. “The campaign was said to transport data from Facebook to Elector … it’s also a social supervision system.” Tehilla Shwartz Altshuler, a senior fellow at the Israel Democracy Institute, said that“data was the game changer in March 2020” because Netanyahu used Facebook data to push “proactive” notifications to influence voters. “Using personal data to win an election is not unique to Israel, it’s also happening all around the world,” Altshuler said. “This is similar to what was done in America in 2016.” Ben Dov agreed, adding this “wouldn’t be possible because of theGDPR,” but it “might be possible in the United States.” Indeed, Netanyahu leaned heavily on American advisers for this data strategy, including President Donald Trump’scampaign strategist John McLaughlin. Netanyahu also relied on another American consultant, former Breitbart journalistAaron Klein. Former White House chief strategist Steve BannoncreditedKlein with the idea of interviewing former U.S. President Bill Clinton’s sexual assault accusers ahead of an October 2016 presidential debate. Altshuler said Netanyahu and Trump have similar, and complementary, digital media strategies. “On the surface, you have leaders trying to be as extreme as they can,” Altshuler said. “The deeper layer is using personal data to target these messages and spread them through specific social groups.” On the other hand, both Netanyahu and Trump fans see such strategies aseffective leadershipin an age of voter apathy and high-tech tools. Regardless of the Bancor founders’ political activism, their proximity to such data strategies may offer a competitive advantage. Understanding how to compliantly encourage specific behaviors, whether it’svotingor trading, is part of the digital casino game. Plus, Coinbaseappearsto be ramping upDeFi governancefeatures in 2020. • ConsenSys Muscles Into Compliance With New Regulatory Product for DeFi • Bitfinex Spin-Out Says Funds Are Lining Up for Its New Decentralized Exchange || Crypto Forensics Firm Chainalysis Adds Tracing Support for Zcash, Dash: The Saudi Arabian Monetary Authority (SAMA) has distributed cash to local banks over blockchain. On Monday, the central bank announced that it had deposited “part” of a recent banking sector liquidity pump through “blockchain technology,” after injecting 50 billion riyals ($13.3 billion) into local banks on June 1. At the time, SAMA said banks maintained an average Liquidity Coverage Ratio (LCR) of 201%, meaning Saudi banks had more than enough cash on hand to cover short-term obligations. Related: Saudi Monetary Authority Pumped Some of $13B Bank Infusion Using Blockchain The banking sector’s average Capital Adequacy Ratio – essentially a measurement of financial soundness – was at 18.6%, placing the banks in line with the Kingdom’s longstanding target of between 18 and 20%. SAMA did not disclose which banks received liquidity injections over blockchain or how much of the overall package SAMA had pumped across the blockchain. Furthermore, it did not state what blockchain platform it had used. The action appears to be the first case of SAMA providing liquidity via blockchain. It is not, however, the central bank’s first foray into blockchain tech. SAMA began trialing Ripple’s xCurrent for cross-border payments in 2018. A Ripple representative did not immediately answer questions regarding the company’s ongoing partnership status or whether xCurrent played a role in the SAMA liquidity pump. Related Stories India’s Central Bank Removes Lingering Confusion Over Banking for Crypto Firms First Mover: Bitcoin Could Get a Boost From Central Bank Digital Currencies Central Banks Mull Creating a CBDC, but Not on a Blockchain: Survey || Ex-Kraken Trading Head Leads Crypto Quant Fund With $23M in Assets, $2.3B in Trades: A little-known virtual currency fund heavy on math and statistics is turning a steady profit under a lead trader who once oversaw a major cryptocurrency exchange. Galois Capital, a San Francisco cryptocurrency hedge fund that launched in January 2018, said in an investor letter andfinancial filingsthat it increased its holdings from $10 million to $23 million in two years with high-frequency trading and funds from new investors lured by returns. A quantitative fund manager, Galois Capital computationally makes bulk volumes of speedy, precise trades shaped by its founder and lead trader Kevin Zhou, previously head of trading at American cryptocurrency exchange Kraken, and a team of technical talent. “Most of us are math, physics or computer science folks,” Zhou told CoinDesk, adding that highly sought International Mathematical Olympiad competitors have been sending in their resumes. Related:Kraken Launches Crypto Exchange Service in Australia Quantitative approaches to trading are wide-ranging. They might encompass regression modeling, direction and magnitude calculations for price prediction or stochastic processes for volatility modeling and options pricing, Zhou said. On the technology side, programming interfaces, trading software and hardware equipment enabling fast communications and data analysis with exchanges are used. Galois Capital built much of this architecture from the ground up, with custom tools such as co-located servers and network adapters, due to what Zhou cites as a dearth of heavy-duty options for cryptocurrency traders found at Hudson River Trading and Jane Street Capital, two of the biggest Wall Street quantitative trading funds. Read more:Hedge Fund Pioneer Turns Bullish on Bitcoin Amid ‘Unprecedented’ Monetary Inflation Overall, the quantitative bent is still relatively tame at Galois Capital. For Zhou, sophisticated trading models and technologies, such as the machine learning software the fund experimented with and shelved, are sometimes overkill in this era of cryptocurrency markets. Related:Kraken “What works is a lot simpler than what would work in traditional markets,” said Zhou. “Some of these models that we have right now would not work in traditional markets, in more mature and more efficient markets.” While trading is easier in the crypto-asset class than in traditional asset classes, Zhou said, the field has gotten more competitive since he managed from 2013 to 2017 at Buttercoin, a bygonebitcoinexchange backed by Silicon Valley-located startup incubators Google Ventures and Y Combinator, and from 2015 to 2017 at the trading desk at Kraken. At Buttercoin, “the sizes of transactions were a lot smaller. The spreads were a lot bigger. I remember there were days where you were getting 100 bps [basis points] just trading $100,000,” said Zhou. “At Kraken, spreads tightened up a bit. It was like 40, 50 bps on $200,000. Now, it’s a lot tighter, probably a million dollars gets 10, 15 bps.” A spread is the difference between a financial instrument’s bid and ask price; a “bp” (pronounced “bip”), or a basis point, reflects a 0.01% change in a financial instrument’s value. Considering Kraken is valued at $4 billion and processes millions of dollars in cryptocurrency flows each month, Kraken’s trading desk was an all-seeing looking glass into why cryptocurrencies are bought and sold in a large corner of the market. It gave Zhou a knack for sizing up counterparty motivations with Galois Capital’s programmed trades, where the other trading actor is faceless. “When you’re market-making with bots on all these different exchanges, you don’t actually get matched up with on the other side,” Zhou said. At Kraken, his trading desk dealt with miners and investors, up close and personal, who gave context into their market movements. “So just being able to read Kraken’s book,” as in the exchange’s record of buy and sale orders, “is definitely informative.” In terms of trading volume, Galois Capital went from processing $671 million to $1.4 billion between 2018 and 2019, the investor letter says. While non-algorithmic trades shrunk from $666 million to $562 million, its algorithmic trades blew up from $5 million to $876 million to enlarge the fund’s share in crypto-asset markets. According to Zhou, about 85% of Galois operations are geared towards liquidity provision, matching crypto-assets at prices quoted by bidders, similar to services offered by Genesis Trading, Cumberland DRW and Circle. The other 15% of operations were focused on hedge fund management of cryptocurrency plays. Galois Capital started with over-the-counter (OTC) trading — manual liquidity provision and Zhou’s specialty at Kraken — and branched out into algorithmic market-making — automated liquidity provision — and discretionary trading. With market-making, generally you don’t want to be holding onto risk for that long. What I mean by that is more than 30 seconds. “Liquidity provision in the traditional markets is handled by prop shops rather than hedge funds. So we’re in kind of a unique situation in that most crypto funds are long only in these different tokens, or they’re long-short and look at factors like trying to detect momentum signals and reverse signals,” Zhou said. “I want to be able to generate profits regardless if the market’s moving up or down, regardless if there’s momentum or reversion, just based on the micro-structure of the market, just based on providing compensation for providing liquidity to the market,” Zhou said. “To me, that seems a lot safer and generally, as a trader, I’m more conservative.” Galois’ hedge fund wing, which emphasizes derivatives, quantitative long-short and discretionary long-short trades, as of January 2020 netted to-date 29.5% for a Class A fund and 53.5% for a Class B fund. (The funds charge different fees on investment subscriptions, which begin at $50,000 an investor.) The two-year returns outdid several benchmarks over the corresponding period, such as a 20.8% S&P 500 gain, a 46.6% bitcoin loss, a 32.6% cryptocurrency hedge fund loss and a 4.6% non-cryptocurrency hedge fund gain, according to the CoinDesk Bitcoin Price Index and Eurekahedge return indices. The Class A fund was, however, more volatile than the Class B fund: According to the investor letter, the Class A fund tumbled 22.4% in 2018 and spiked 66.8% in 2019; the Class B fund ticked up 33.9% in 2018 and 19.3% in 2019. “We don’t really have that much of a long-term portfolio that holds the large positions longer. For us, a lot of this is just very short-term inventory balances,” Zhou said to CoinDesk. “With market-making, generally you don’t want to be holding onto risk for that long. What I mean by that is more than 30 seconds. So we’re usually flat on that exposure at any given time. And then, for very short periods of time, we’ll have short exposure in a number of different coins, but we’ll hedge that off very quickly.” Read more:Mutual Fund Giant Vanguard Wraps Phase 1 of Digital Asset-Backed Securities Pilot Galois Capital opened cryptocurrency futures and swaps in April 2019 and long-short trades in August 2019 to more cheaply hedge spot exposure and arbitrage price disparities with derivatives, the investor letter says. It will also initiate cryptocurrency options trades on the Deribit exchange in the fourth quarter of this year, but the plans are tentative to exercise caution over low and therefore risky options volume. Deribit alone trades less than $50 million a day. Galois Capital has done some notable long-short trades, such as going long bitcoin at $3,750 in December 2018 and buying the FTX crypto-derivatives exchange’s FTT coin at $0.10 in April 2019, according to the letter. The firm took the optimistic bitcoin position at a market low on the view that industry-wide hedge fund investment redemptions had subsided, that a crash in initial coin offerings — virtual currency investment structures highly correlated to bitcoin — had bottomed out and that legal measures surrounding Mt. Gox bankruptcy proceedings had abated bitcoin selling pressure. And, due to a close relationship with FTX’s parent company Alameda Research, Galois Capital saw FTT as undervalued at the time of its investment. The coin sale was “very rushed and did not tap all of the available capital” despite “a surplus of demand on the sidelines,” the investor letter says. Galois Capital exited the FTT long position at a price between $0.80 and $1.94 while retaining some holdings of the coin. In the coming year, Galois Capital will trade against its own market-maker, combining its liquidity and hedge fund services. Borrowed from traditional prop trading shops Two Sigma, Jump Trading and Tower Research, the strategy is aimed at improving long-short trading efficiency. According to the letter, Galois long-short traders have accidentally taken opposite positions and strive to trade independently without confusing each other’s profits and losses. • Ex-Kraken Trading Head Leads Crypto Quant Fund With $23M in Assets, $2.3B in Trades • Ex-Kraken Trading Head Leads Crypto Quant Fund With $23M in Assets, $2.3B in Trades || Drug Dealer Just Sentenced to 25 Years Hoped to Build a Better Bitcoin Miner: Fear not, Wall Street. While this week’s sell-off in stocks was steep, the S&P 500 is still up 34% from its March 23 nadir on Friday morning. In other words, the United States’ fiscal and monetary COVID-19 stimulus efforts continue to be heavily favoring hedge fund managers, bankers and corporate CEOs. Meanwhile, as stocks have posted a record-breaking rally , 115,000 Americans have died from a pandemic that forced 38 million others to file for unemployment benefits. This is not only fundamentally unfair, it also highlights how our current capital market system grossly misallocates resources. Failed companies with dire long-term prospects – see Hertz, below – get rescued while small businesses and startups working on solutions to our economic and public health malaise miss out. You’re reading Money Reimagined , a weekly look at the technological, economic and social events and trends that are redefining our relationship with money and transforming the global financial system. You can subscribe to this and all of CoinDesk’s newsletters here . It’s time to talk about an alternative mechanism for allocating capital, one that’s not skewed by the stock market. It’s time to revisit ICOs. A different approach First, some level-setting: The 2016-2017 ICO boom was an abomination. Rife with scams, ill-defined business plans and hype, the initial coin offering bubble provided a reminder of why securities regulations exist: to make fundraisers with asymmetric information accountable and to protect investors from their abuse. But the token boom did unleash some valuable outside-the-box thinking. We should tap into it now. Related: Money Reimagined: The Fed, Hertz, a Bonkers Stock Market and why ICOs Still Matter ICOs were touted as a means for innovators to gain access to a wider funding pool and for retail investors to earn the kind of returns otherwise reserved for privileged insiders. Startups, it was said, could now bypass the venture capital gatekeepers who decide who gets funded and who gets the golden handout of a stock market initial public offering, while token investors could make those 100x payouts VCs boasted about. Story continues Disintermediating both Silicon Valley and Wall Street paved the way to an open market for ideas, ICO fans proclaimed. Yes, there’d be losses, blowups and scams. But in its roundabout way it would ultimately allocate resources to where the economy most needed it: to the innovators. Those voices were quieted by the bubble’s bursting in 2018. But the current state of U.S. financial markets demands we revisit some of their arguments – if not to resurrect the failed ICO model than to think through related regulatory reforms that address the problems with the Wall Street model. After all, the transfer of wealth from ordinary Americans outside the system to a privileged few insiders has been many magnitudes greater these past two months than anything that happened in the token issuance markets. For most of the 20th century, that system served reasonably as an engine for monetizing American ingenuity and funding economic development. But, over time, mostly because of the excessive political clout that Wall Street accumulated, it has incorporated some perverse incentives that discourage innovation. Part of the problem stems from our political culture. The mainstream narrative fed by media outlets like CNBC and by Dow industrials-obsessed political leaders like Donald Trump positions the stock market as the bellwether of the American Dream. With elites so invested in the market, both economically and politically, it’s little wonder the COVID-19 monetary and fiscal bailouts were geared toward propping it up. But it’s also structural. Think of how the quarterly “earnings season” sets standards. The rewards for all involved – Wall Street’s earnings forecasters, ROI-obsessed fund managers and corporate executives and, by extension, the bonuses of their middle management staff – hinge on “beating the number” every three months. This isn’t conducive to taking bold bets on innovative strategies that take much longer to gestate. Consider the problem of “stranded assets.” Most pension funds continue to hold big stakes in carbon-heavy companies such as oil and gas producers even though reams of analysis suggest they will be worthless within the longer-term retirement horizon of most of their members. It’s hard to get off the drug of quarterly returns. (A tangential thought experiment: Quarterly company reports are a byproduct of centralized, siloed accounting systems in which bookkeepers and auditors must reconcile records and draft periodic financial snapshots. What would happen to the quarterly rhythms of Wall Street if these reports became obsolete? What if all counterparties within a particular supply chain or economic ecosystem instead contributed to a single distributed ledger with an openly available yet privacy-protected snapshot of all transactions in real time? Such models are not possible now, but blockchains and zero-knowledge proof developers are putting them within the realm of imagination.) What works and what doesn’t? To imagine an alternative, cast your mind back to 2018 when token prices were tanking, the ICO market was drying up and “Crypto Winter” was setting in. There was actually a sensible debate back then on what token-based fundraising ideas should be retained and which ones should be dispelled. We should revive it. For example, are security token offerings, which require regulatory filings but can integrate smart contracts that traditional stocks and bonds cannot, a better way for startups to fund themselves? STOs were hot for a brief post-ICO period, and then lost momentum as it was clear the regulatory, compliance and technical framework had a long way to go. But there seems to be some resurgent interest, with issuer platforms Polymath and Securitize both making technical progress. One can imagine the recent tie-up between Galaxy and Bakkt also veering into security token services for institutional investors. Can we also agree on what legal utility tokens are, and on what the best practices for marketing them are? If, as the “Hinman doctrine” suggests, a token can cease to be security if its network evolves to a more decentralized state, what is the right framework for token issuers to stay compliant through that evolution toward utility status? How can they stay compliant at the outset but have a means to attain the desired network effects of a token-governed decentralized system? And how do we make it easier for small investors to legally and safely buy and sell tokens? Accredited investor rules are outdated, favor the same set of privileged wealthy players and unreasonably restrict the general public’s access. Meanwhile, U.S. restrictions on a host of crypto exchanges deny ordinary Americans access to a market that’s intrinsically designed for little guys to participate in. Regulation is both unavoidable and necessary. But it absolutely should not function as protective armor for a capital market system that harms our economy’s capacity to optimize capital allocation. At a time when the U.S. economy needs innovative approaches to everything, we urgently need an innovative approach to how we fund innovation. A phoenix rises… and falls For proof of our broken capital allocation system, look no further than the performance of Hertz’s stock. On May 24, the car rental company filed for bankruptcy after incurring massive losses on account of the COVID-19 travel restrictions, which had left the industry’s fleets at a standstill. In response, Hertz’s share price, which had already shed more than 85% from a two-year high in late February, plunged further, dropping into penny stock territory to $0.56. But then a strange thing happened: On Thursday last week, Hertz started a three-day tear to hit $5.54 on Monday, a 574% gain. A surge in trading activity by accounts listed on small investor trading app Robinhood seemed to be behind the gain. As the rest of the market absorbed the euphoria of a stimulus-fueled recovery, the bankrupt car rental firm was suddenly attracting an influx of speculative retail investors. For many of those newcomers, the story hasn’t ended well. On Wednesday, the New York Stock Exchange put the company on notice for delisting. Hertz is appealing that decision, but the announcement sent the shares crashing back to earth. At Thursday’s close, the price was at $2.06. A common caveat emptor response would simply say that some greedy speculators learned a lesson and we can forget about it. But the reality is more nuanced. That kind of speculative mania is inseparable from the broader sentiment of the market, which is now consumed by a “don’t fight the Fed” logic on monetary stimulus. Hertz’s mini-bubble was (indirectly) engineered by central bankers. The global town hall What’s your story, bitcoin? June has been a frustrating month so far for bitcoin bulls. That’s not only because a series of rallies offered false hope, each faltering near the psychologically important $10,000 level. It’s also because market performance has again confounded efforts to define a narrative for bitcoin as an asset. After its COVID-19 sell-off in early March, which challenged the idea of bitcoin as a safe haven, bitcoin’s relatively strong rebound was explained in terms of fiat money supply issues. Bitcoin would then be described as an antidote to the fiat world’s “quantitative easing” as the Federal Reserve’s stimulus efforts spawned the “Money Printer go Brrrrr” meme and bitcoin’s own monetary policy “quantitatively tightened” via the halving . But on Thursday, one day after the Fed said it was “committed to using its full range of tools to support the U.S. economy,” bitcoin again sold off sharply. After staging another frustrating rally to just above $9,900, it plunged to an intraday low of $9108.47. Crucially, this was in sync with a big unwinding  in U.S. stocks as concerns grew around new COVID-19 cases. So, is bitcoin just a “risk asset,” moving up and down with overall investor risk appetites? It’s unclear. Having a more consistent story would make it easier to make an investment case for bitcoin. But maybe the lesson is we shouldn’t be searching for a narrative. Don’t try to pigeon-hole it. Bitcoin just is. We laid the table for you… The failure of a meaningful price breakout is proof enough that the long-awaited arrival of institutional investors into crypto markets remains unfulfilled – regardless of Paul Tudor Jones’ or Bloomberg’s upbeat comments about bitcoin. But this hasn’t stopped big players in the crypto industry from continuing to build services catering to institutions for when they finally do show up. Three separate firms – Genesis (a CoinDesk sister company), BitGo and Coinbase – have established crypto prime brokerages , which leverage deep balance sheets and market connections to provide assured liquidity and price-efficient order routing for institutional investors. Meanwhile, Galaxy and Bakkt are teaming up to offer specialized crypto custody and trading services to the same kinds of players. In a press release , the firms described it as a “white-glove service,” the kind of business that lays it all on with a tailored service for its clients. So, there you go, institutions, the price is right, the butlers are waiting for you. What more do you need? Jump in. The water’s fine. Go for a bike ride, get doxxed. Those of us who obsess about privacy – as Money Reimagined does from time to time – can get frustrated by an apparent lack of concern about it among the general public. That’s why it’s important to humanize it, to show the real-world impact of privacy breaches on people’s lives. Enter Peter Weinberg . Thanks to a date error in a police public service announcement and some overzealous users of geolocating cycling app Strava, a Twitter mob wrongly flagged Weinberg as the instigator of a rather ugly incident. A viral video had earlier shown a different man on a bicycle accosting two young girls who were posting flyers in support of George Floyd on a trail in Bethesda, Md.. When the Maryland-National Capital Park Police tweeted a request for information about the unhinged cyclist, it wrongly used June 1 as the date of the incident. That tweet was shared 55,000 times. It later corrected the tweet to say June 2. But that one was only shared 2,000 times. You can piece together what happened. A Strava user must have surveyed the site’s data, found what was thought to be a likeness, tied it to Weinberg’s associated social media profiles, put two and two together to come up with five and then outed him. Weinberg’s Twitter and LinkedIn message feeds were barraged with comments accusing him of being a racist and of engaging in child abuse. This is surely not what he signed up for when he agreed to communicate information about his rides and exercise regime with a friendly community of fellow cyclists. Related Stories Money Reimagined: What CoinDesk’s Style Debate Says About Crypto as Public Tech Money Reimagined: Designer Money for a Machine-Run, Post-COVID World || Bitcoin miners made $412.5 million in revenue during April, new data indicates: Bitcoin miners made 8% more revenue in April as compared to March, thanks to a gradual recovery in bitcoin's price. Bitcoin miners generated $412.5 million in revenue in April ascompared to$380.1 million in March. The figures are based on the assumption that miners sell their bitcoin holdings immediately and are drawn from the daily close price of bitcoin. Source: Coin Metrics, CryptoCompare,The Block ResearchAsnotedby The Block's Larry Cermak in his April by-the-numbers report, the vast majority of that month's miner revenue came in the form of block reward subsidies, which at this time is at 12.5 BTC per block. That number will fall to 6.25 BTC when the subsidy ishalvedearly next week. Transaction fees – which are paid by bitcoin network users to gain priority in transaction blocks – only accounted for about 1.5% of the total amount of revenue generated in April. To read thefull April report, subscribe toThe Block Research. © 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: down || Prices: 9313.61, 9264.81, 9162.92, 9045.39, 9143.58, 9190.85, 9137.99, 9228.33, 9123.41, 9087.30
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 blasts to new all-time high of $6,450: LONDON (Reuters) - Bitcoin climbed to a new all-time high of $6,450 on Wednesday, boosted by bets the cryptocurrency could enter the financial mainstream after the world's largest derivatives exchange operator said on Tuesday it would launch bitcoin futures. CME Group Inc said it would provide a regulated trading venue for the cryptocurrency market and would launch the new derivatives in the fourth quarter of 2017. Bitcoin has had a bumper year with a more than sixfold increase in price, and has more than doubled in price since mid-September alone. It was up 0.3 percent on Wednesday on the Luxembourg-based Bitstamp exchange. (Reporting by Jemima Kelly, Editing by Abhinav Ramnarayan) || Governments will close down bitcoin and cryptocurrencies if they get too big, warns Jamie Dimon: JPMorgan Chase ( JPM ) Chief Executive Jamie Dimon has laid into bitcoin (Exchange:BTC=) and digital currencies once again, warning that governments will shut them down if they grow too large. "Right now these crypto things are kind of a novelty. People think they're kind of neat. But the bigger they get, the more governments are going to close them down," Dimon said during an interview with CNBC-TV18 in New Delhi on Friday. Dimon was concerned that with bitcoin, ethereum and various initial coin offerings (ICOs), there are now cryptocurrencies everywhere. "It's creating something out of nothing that to me is worth nothing," he said. "It will end badly." Dimon warned that governments will eventually crack down on cryptocurrencies and will attempt to control it by threatening anyone who buys or sells bitcoin with imprisonment, which would force digital currencies into becoming a black market. These are the latest comments from Dimon attacking bitcoin. Earlier this month he called the cryptocurrency a "fraud." . His comments, along with several prominent hedge fund investors, came before a sharp sell-off in bitcoin. The price for one bitcoin fell from around $4,340 to as low as $2,981.05 in the days after his comments. Bitcoin has since recovered to around $3,640.68, according to CoinDesk data. Despite this volatility, bitcoin's value has risen 264 percent this year. Dimon's comments came under criticism from several bitcoin investors and experts. "Comments like Jamie's show a failure to grasp the significance of the blockchain and the power of brand in a fundamental sea of change," said Scott Nelson, chairman and CEO of blockchain firm Sweetbridge, in an email to CNBC last week. Meanwhile, a company called Blockswater has filed a market abuse complaint in Sweden against Dimon and JPMorgan. Blockswater claims Dimon deliberately spread false and misleading information, according to a report by City A.M. JPMorgan Chase declined to comment, the report said. Money from thin air During the interview on Friday, Dimon also criticized bitcoin for not being a fiat currency formed by a government and backed by a central bank. "With central banks, (the money) says legal tender: you have to take this as payment. It's very cheap to do, it's very easy to move back and forth. JPMorgan moves $6 trillion around the world every day very efficiently, very quietly, very effectively and very cost efficient," he said. "Creating money out of thin air without government backing is very different from money with government backing." However, Dimon did praise the technology underpinning bitcoin – the blockchain. "Blockchain is a technology that can be used for multiple things, including cryptocurrency. It could be used for digital dollars, and there are digital dollars already; a lot of the dollars held in our bank are digital," he said. WATCH: Bitcoin mining can land you in jail in this country More From CNBC Volkswagen chairman doesn't rule out outsider as next CEO Summers: Graham-Cassidy 'much more dangerous' than past Obamacare repeal bills UK PM Theresa May delivers major Brexit speech in Italy || Jamie Dimon says people who buy bitcoin are 'stupid': JPMorgan Chase (NYSE: JPM) Chairman and CEO Jamie Dimon can't stop talking about bitcoin. "If you're stupid enough to buy it, you'll pay the price for it one day," Dimon said at an Institute of International Finance conference Friday. The CEO said he could care less about what bitcoin trades at. On Thursday, Dimon said during a post-earnings conference call with media that he's "not going to talk about bitcoin anymore." The executive called bitcoin a "fraud" in September and said it "won't end well." Dimon did add on Friday that he believed the blockchain technology behind bitcoin was valid, but he does not understand the value of "non-fiat" digital coins, that is, digital currencies which are not backed by a government. Bitcoin (Exchange: BTC=) hit a record high above $5,800 Friday. — CNBC's Kayla Tausche contributed to this report.More From CNBC • Fidelity's Gavin Baker fired over sexual harassment allegations • Want to know where stocks are headed? Keep an eye on the global economy • Netflix stock surges past $200 for first time || Bitcoin soars to nearly $7,900 after plans for fork are called off: MI • The price of bitcoin, the red-hot digital cryptocurrency, popped Wednesday afternoon to an all-time high of $7,882, according to data from Bloomberg. • It gave up some gains and then traded up 8.75% at $7,695 as of 12:53 PM EST. • Mike Belshe, CEO of BitGo, a backer of the plan to increase the amount of information processed by the blocks underpinning bitcoin's blockchain network, said supporters were calling the plan off,according to cryptocurrency watcher CoinDesk. • The suspension could prevent a split of bitcoin, which was anticipated to happen this month. • Supporters of the block size increase, known as SegWit2X, have argued that it would help bitcoin scale faster. NOW WATCH:Why Nintendo is dominating like the old days See Also: • GOLDMAN SACHS: Bitcoin could get close to $8,000 • Bitcoin's 'bubble' is unlike anything we've seen recently • Bitcoin hits all-time high ahead of another potential fork SEE ALSO:We just got a glimpse of how bitcoin futures will work || $5,800: Bitcoin Price Hits New Record High: The value of a bitcoin reached a new all-time high of $5,856.10 at around 02:45 UTC this morning. The new price record comes just hours after setting new highs with a strong move beyond $5,000 yesterday, according to CoinDesk'sBitcoin Price Index. At 16:30 UTC Thursday, bitcoin was at $5,363. Bitcoin started the session today at $5,439, before rising sharply to the new high within 3 hours. Today's low was $5,396. The price of the cryptocurrency has since dropped to $5,704 at press time – a rise of around 13 percent over the last 24 hours. For the week, bitcoin is up over 30 percent. Elsewhere in the cryptocurrency markets, ether and litecoin are also seeing positive price moves, according toCoinMarketCapdata. Ether is up over 5 percent over the last 24 hours, while litecoin is up almost 14 percent. The combined market cap for all cryptocurrencies is once again climbing towards the Sept. 1 high of $172.5 billion, peaking this morning at $171.94 billion. Bitcoin's market cap is today $95.5 billion, over 55 percent of the total market. Taking an overview, it would seem that the market fears caused byChina's ICO banin early Sept., and the voluntary closures of domestic cryptocurrency exchanges that followed, have now almost completely been shrugged off by the market. Rock climber imagevia Shutterstock • Bitcoin's Price Keeps Rising, But Is $6,000 in Reach? • No Token Response: UNICEF Is Open to Doing Its Own ICO • It's Unanimous: Swift Blockchain Success Sets Stage for Sibos • Rally Restored? Bitcoin Is Up 75 Percent from 30-Day Lows || Apple explored buying a medical-clinic start-up as part of a bigger push into health care: Apple ( AAPL ) has considered an expansion into health care clinics, and had talks to buy a start-up called Crossover Health, which works with big employers to build and run on-site medical clinics, according to three sources familiar. Crossover Health is one of a small number of companies that specialize in working with self-insured employers to provide medical and wellness services on or near to campus. Among its clients are Apple and Facebook. Crossover also has clinics in New York and the Bay Area, and touts its digital features like same-day appointments via a mobile app. The Apple-Crossover talks went on for months but didn't materialize into a deal, one of the sources said. Apple also approached nationwide primary care group One Medical, said two other sources. Crossover Health did not respond to a request for comment. Apple declined to comment. The discussions about expanding into primary care have been happening inside Apple's health team for more than a year, one of the people said. It is not yet clear whether Apple would build out its own network of primary care clinics, in a similar manner to its highly successful retail stores, or simply partner with existing players. It's also possible Apple will just decide not to make this move. Some experts see a move into primary care as a way to build out its retail footprint. Apple's worldwide network of more than 300 stores has been one of its most important sales channels. Canaan's Nina Kjellson, a prominent health tech investor who has no knowledge of Apple's plans, believes the move is plausible. "It would help build credibility with Apple Watch and other health apps," she explained. "Apple has cracked a nut in terms of consumer delight, and in the health care setting a non-trivial proportion of satisfaction comes from the quality of interaction in the waiting room and physical space," she continued. Richard Milani, chief clinical transformation officer at Ochsner Health System in New Orleans, which was one of the first hospitals to use the Apple Watch as a patient health monitoring tool, agrees it might make sense. "Such a move wouldn't surprise me as Apple has demonstrated that its interest in health care isn't superficial," said Milani. "Primary care is in great need of re-imagining and rethinking." Apple has a lot of health-related projects going on Apple is expected to make a big move into health care in the coming years. CEO Tim Cook has said recently that he sees health as a "business opportunity," rather than a philanthropic endeavor. "There's much more in the health area," he said in an interview with Fortune. "There's a lot of stuff I can't tell you about that we're working on, some of which it's clear there's a commercial business there." In the U.S., the demand for primary care services is outstripping the supply of physicians. According to some estimates, there could be a shortage of up to 35,000 primary care doctors by 2025. In recent years, Apple has hired dozens of doctors, health consultants and other medical experts, working on campus. As CNBC recently reported, it scooped up Stanford's rising star in digital health Sumbul Desai for a senior leadership role. Apple is working with the U.S. Food and Drug Administration on finding better ways to fast-track digital health software through the regulatory approval process. It is also partnered up with researchers at Stanford to determine whether the Apple Watch is accurate and sensitive enough to be used as a tool to screen for a heart rhythm disorder known as atrial fibrillation. It has other research and development projects, including a team working on a sensor to non-invasively and continuously track blood sugar levels. The company is also working to make the iPhone the central repository for patient health information. Already, it has developed software tools for health developers to make it easier to recruit patients for clinical studies (ResearchKit) and share health information with third-party developers with consent (HealthKit). WATCH: Super cycle will surprise Apple naysayers More From CNBC Bitcoin smashes through $6,100 to hit a new record high JPMorgan slashes its Tesla Model 3 fourth-quarter forecast in half Apple plan to make stores into 'town squares' || eBay Inc (EBAY) Q3 Adjusted Earnings in Line With Expectations: eBay Inc (NASDAQ: EBAY ) reported on its latest quarter late Wednesday. eBay Inc (EBAY) Source: Mike Knell via Flickr DON’T USE OLD LOGO For its third quarter, the online auction giant said it earned $514 million , or 48 cents per share, while non-GAAP earnings were also 48 cents per share. Analysts were calling for profit of 48 cents per share. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Revenue was also similar to what the Wall Street consensus estimate called for as eBay raked in $2.4 billion in sales versus an outlook of $2.37 billion. The figure was a 9% improvement compared to the year-ago period. The company added that its gross merchandise volume (GMV) amounted to $21.7 billion, most of which came from eBay’s Marketplace platforms. The company has geared a large portion of its technology and marketing efforts towards this segment, which brought in $20.5 billion of GMV and $1.9 billion of revenue. “In Q3, we drove acceleration across all three of our platforms, delivering strong top and bottom line financial results and our fastest volume growth in over three years,” said eBay CEO Devin Wenig. “Our customers are responding to the significant product enhancements we have been making, and this is reflected in our results.” The company also said it added 2 million active buyers across its platforms, now reaching 168 million. For its fourth quarter, eBay predicts it will rake in $2.58 billion and $2.62 billion in revenue, while earnings are slated to be between 57 and 59 cents per share on an adjusted basis. EBAY stock rose 1.3% during regular trading hours, but the earnings call unveiled after the bell saw shares fall 5.4%. More From InvestorPlace 5 Bitcoin Stocks to Buy for Low-Risk Cryptocurrency Profits 7 Stocks to Buy Before the Holidays Kroger Co Stock Has Way More Upside Than You Think The post eBay Inc (EBAY) Q3 Adjusted Earnings in Line With Expectations appeared first on InvestorPlace . || Dow soars to fresh closing high: The Dow soaring to a new closing high as earnings lead the way. Plus – Chipotle, AT&T earnings are on the way — we’ll have them live. And, Target and other big box retailers have a new weapon against Amazon, and it involves … groceries. Catch The Final Round at 3:55 p.m. with Jen Rogers and Yahoo Finance markets correspondent Nicole Sinclair. Winners and losers Stocks in the red today include Lockheed Martin as the defense name missed on both profit and revenue; Novartis as the Swiss drug giant will delay its Alcon spin off until 2019; and Whirlpool – shares tanking on a profit warning as well as reports claiming Sears is no longer selling Whirlpool appliances which include Maytag KitchenAid, and Jenn-Air brands. Stocks in the green today include Caterpillar as the world’s largest construction construction equipment maker reported a massive earnings beat; 3M as the Scotch Tape and Post-It maker raised its full-year guidance citing organic growth across its business units; and GM, with shares climbing higher as the automaker beat on the earnings, citing strong crossover demand for vehicles like the Chevy Traverse and GMC Acadia, as well as strong sales in China. Why bitcoin matters Bitcoin is about as popular on Wall Street as Bernie Madoff these days. Everyone loves to talk about the blockchain, but Dan Roberts is here to tell us why Bitcoin matters. || Why Overstock.com, Inc. (OSTK) Shares Are Skyrocketing Today: Overstock.com, Inc. (NASDAQ: OSTK ) shares skyrocketed Wednesday as the company had news from one of its subsidiaries. Overstock.com, Inc. (OSTK) The Internet retailer-owned subsidiary tZERO unveiled today that it has plans to roll out an alternative trading system as part of a partnership with RenGen and Argon Group . The system will be able to transform the trading of ICO security tokens while meeting regulations from the Securities and Exchange Commission and the Financial Industry Regulatory Authority, Inc. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Overstock said that this emerging asset class of blockchain-based digital tokens has amassed more than $2 billion so far in the current calendar year. The move marks yet another attempt at alternative investing measures for a cryptocurrency not regulated by the U.S. government. “With ICO blockchain offerings surpassing traditional early stage VC funding and U.S. regulators seeking legitimate venues to support security token offerings, with this JV tZERO continues to maintain its leading edge in blockchain financial technology,” says Overstock CEO Patrick Byrne. The company hopes that the future of blockchain will lie within a happy medium that can appease regulators, as well as investors looking to trade their cash for blockchain-based currency that could rise the way Bitcoin has. The aforementioned cryptocurrency’s value has risen by 2000% over the last three years or so, but many are wary about the cryptocurrency and the crash that could come. OSTK shares gained 16% Wednesday. More From InvestorPlace The 7 Best Dow Jones Stocks to Buy Today 6 A-Rated Dividend Stocks to Buy Is the Alibaba Holding Group Ltd (BABA) Stock Pullback Your Chance to Buy? The post Why Overstock.com, Inc. (OSTK) Shares Are Skyrocketing Today appeared first on InvestorPlace . || Donald Trump one-year stock market performance: Since President Donald Trump was elected in November 2016, the stock market has been on a tear. Over the weekend, Trump — who has repeatedly boasted about the stock market’s run during his time in office — said in Japan that “the reason [the U.S.] stock market has been so successful is because of me,” according to ABC’s Jonathan Karl. U.S. President Donald Trump, right, accompanied by U.S. Ambassador to Japan William F. Hagerty, left, waves to a guest during a state banquet at the Akasaka Palace, Monday, Nov. 6, 2017, in Tokyo. (AP Photo/Andrew Harnik) And while the more than 20% rally we’ve seen in the S&P 500 and the 30% rise in the Dow have sent markets to record highs, the market’s post-election performance isn’t the best among modern presidents. According to data from Goldman Sachs, Trump’s post-election stock market jump is the fourth-largest since 1936. Trump trails Presidents George H.W. Bush, John F. Kennedy, and Bill Clinton in terms of stock market performance following election day. Clinton’s 1996 post-election rally, which saw the S&P 500 rally almost 30% in the 12 months following the election and over 50% in the 24 months following his win, is by far the best stock market performance any modern president has enjoyed after their election win. Trump’s post-election stock market returns have been good, but not quite as good as those seen by George H.W. Bush, John Kennedy, and Bill Clinton. (Source: Goldman Sachs) The extent of Trump’s overall impact on the stock market, of course, is open to debate. Some investors have argued that the stock market’s rally this year has been about the hopes for tax reform that would put billions of dollars on to the bottom lines of American corporations. But as we’ve noted , data from Goldman shows that stocks which would be set to benefit the most from tax changes have underperformed the market this year, meaning that investors aren’t putting much faith in a tax bill getting through. Threats from Treasury Secretary Steven Mnuchin that the stock market would tank if tax reform weren’t passed, then, seem to ring a bit hollow. Goldman notes, however, that one clear area where Trump’s election has improved stock market fortunes is for companies exposed to small- and medium-sized businesses. This basket of stocks derives 71% of its revenues from small- and medium-sized customers — that is, businesses with 500 or fewer employees. Story continues “ Small business owners have been thrilled at the prospect of deregulation under the Trump administration,” Goldman notes. “Following the election, the NFIB Small Business Optimism Index leaped to the highest level in more than 12 years. The share prices of firms deriving revenues from small businesses have rallied by 38% since the election while the Russell 2000 small-cap index has matched the performance of large caps.” Companies more exposed to small- and medium-sized companies have been crushing the broader market this year. And Goldman Sachs attributes this to enthusiasm from small businesses about the policies of President Donald Trump. (Source: Goldman Sachs) So while some of Trump’s boasting about the stock market may be derided by critics as mere Trumpian bluster, there is no doubt that his election has excited many areas of the American business community — and led to positive outcomes for shareholders. — Myles Udland is a writer at Yahoo Finance. Follow him on Twitter @MylesUdland Read more from Myles here: It’s been 17 years since U.S. consumers felt this good about the economy TOM LEE: Bitcoin is an important asset for investors to own Wall Street can’t stop talking about Bitcoin Why a new Federal Reserve chair won’t rattle markets Warren Buffett likes the stock market because of the bond market America’s shortage of workers is about to get ‘much worse’ [Random Sample of Social Media Buzz (last 60 days)] Bitcoin Endures Instantaneous Flash Crash on Major Price Index #ico #cryptocurrency #token #token #eth #Elexric #invest || #bitcoin non si ferma più? Analisi tecnica || "Don’t Fear Forks, There’s Only One #Bitcoin" @Cointelegraph https://cointelegraph.com/news/dont-fear-forks-theres-only-one-bitcoin … #blockchain #fintech #defstar5 #makeyourownlane #Mpgvippic.twitter.com/G7pMiWG79Q || #Putin Tells Central Bank Not to Create Barriers to #Cryptocurrencies || #bitcoin non si ferma più? Analisi tecnica || seiyaしゃんと身長全く同じでビビる... || What is #Bitcoin? https://youtu.be/Gc2en3nHxA4  || Bitcoin Group SE Shares Skyrocket Along with Bitcoin's Ascent https://goo.gl/KCTGft  #bitcoin #BTC pic.twitter.com/Nddh9zTkyj || Billionaire Hedge Fund Legend Novogratz: Bitcoin Price En Route to $25,000 http://ift.tt/2gbrl4n  || お問い合わせ・ご相談・ご要望などは、http://form1.fc2.com/form/?id=1cf284d0cbd1ef3e …または、btctradep2p★http://gmail.com まで、どんなことでもお気軽にどうぞ。(「★」を「@」に置き換えてください。) #Bitcoin
Trend: up || Prices: 8200.64, 8071.26, 8253.55, 8038.77, 8253.69, 8790.92, 9330.55, 9818.35, 10058.80, 9888.61
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 2017-09-20] BTC Price: 3905.95, BTC RSI: 47.84 Gold Price: 1312.00, Gold RSI: 52.54 Oil Price: 50.41, Oil RSI: 61.83 [Random Sample of News (last 60 days)] David Pogue on the solar eclipse: I’ve always thought eclipse chasers—these people who spend thousands of dollars flying around the world to spend two minutes looking at a solar eclipse—were a little nutty. I mean, that’s a little extreme, right? If you want to see what a solar eclipse looks like, type solar eclipse into Google, right? Of course, I get that an eclipse is supposed to be better experienced live, in the same way that seeing a band perform live is more exciting than listening to a recording. But the way these people talk? “Life-changing?” “Addicting?” “Spiritual?” That, I’ve always thought, was a little much. A total eclipse of the sun is when the earth, moon, and sun are all lined up perfectly, so that the moon precisely blocks the sun for couple of minutes. (How come its silhouette is exactly the right size to block the more distant sun? Pure coincidence.) That’s the moment of totality — where the moon is positioned fully between you and the sun, so that all you see of the sun is a ring of fire around a jet-black circle. It supposedly looks like this: Here’s the kind of eclipse photo we usually see. It’s not accurate. (nasa.gov) Getting to see a total eclipse is relatively hard. There were just 62 total eclipses during the 20th century. Even then, the moon’s shadow carves out a narrow path, only 70 miles wide, where you can experience totality. (Outside that band, you see a partial eclipse, where you see the sun with a rounded bite taken out of it—kind of like the Apple logo.) So to experience totality, you have to be in the right place in the right time—and have the right weather. Experts were raving about how rare and special this week’s eclipse would be. They called it the “Great American Eclipse,” because (a) its path would cross the entire continental USA, for the first time in 99 years, and (b) the total eclipse would be visible only from this country. Totality would pass through 14 states, passing over the homes of 12.2 million Americans. The “path of totality” during this week’s solar eclipse crossed the entire United States. (NASA.gov) It would also fall during the final days of school summer vacation. In other words, all the planets were aligned for me to make my own first trip to see a total solar eclipse. Story continues Not for my benefit. For my kids. Obviously. Where to go NASA’s websites featured some great tools for planning a visit. Almost every state in the U.S. would be able to see some of the eclipse. But we wanted to experience totality if we could. NASA’s interactive map made it clear that, for us, the closest spot would be South Carolina. So I booked a plane, a car, and a cheap hotel, and started getting my kids excited. Three days before the eclipse, though, it became clear that South Carolina was not the place to be this time; almost the entire state would be covered by clouds on the big day! Of course, a total solar eclipse is very cool even if it’s cloudy. You still feel a crazy rapid temperature drop, see the day rapidly turning into temporary night, and hear animals and bugs going crazy. But you miss the grand prize: Looking into the sky and seeing the eclipse itself. Well, dangit. Now what? Well, I’d come this far. I bit the bullet and canceled our reservations. The next closest spot on the eclipse’s path of totality seemed to be Nashville, Tennessee—a great place for a family trip even without an eclipse. Better yet, the weather was supposed to be clear! Nashville was hosting all kinds of special events. At their science museum, for example, there would be talks and booths and exhibits. At the baseball stadium, the mayor was hosting a massive viewing party. All the flights to Nashville were sold out. So we flew to Memphis instead, and drove the 3.5 hours to Nashville. The night before, in our hotel room, my sons (ages 20 and 12) and I planned our strategy. Nashville would experience 1 minute, 55 seconds of totality; but smaller towns 30 miles away were closer to the eclipse’s center line. Gallatin, Tennessee, for example, would have 2 minutes, 40 seconds of totality. Jeffrey, my seventh grader, insisted that we skip the festivities of Nashville and go for the longer eclipse experience. The closer to the center line, the longer the moment of totality. Gallatin was looking good. (greatamericaneclipse.com) “You realize that, with all the traffic, we’ll have to sit in the car for two extra hours to get to Gallatin—for 45 seconds more eclipse?” said Kell, his older brother. But Jeffrey was adamant. The big morning We arrived at Triple Creek Park in Gallatin two hours before the start of the eclipse. This is a vast public park—acres and acres of soccer fields, baseball fields, field fields. There were lots of people there for the eclipse, but the park wasn’t what you’d call crowded in any sense; finding places to park our car and ourselves was easy. Here and there, we saw people with telescopes or huge telephoto camera lenses. Everyone was incredibly friendly; there was a sense of shared excitement. The day was blistering hot, so most people found shady trees for waiting. It was a hot August day in Tennessee, so most of us waited under the trees until the big moment. The eclipse began at 11:28 a.m. For an hour, it was OK. You could wear your cardboard eclipse glasses, look up at the sun, and see the growing rounded bite taken out of its side. “It’s a Pac-Man,” said almost everyone. Interesting, but slow. But then, as 12:29 p.m. approached, things began to get wild. We could feel the heat ease off fast, as more and more of the sun got blocked. The cicadas that had produced a loud, steady background rattle all morning suddenly went quiet. My sons and I, moments before the totality that blew us away. And then, with a minute to go, the magic began. The whole world began to dim. But here’s the thing—it wasn’t dark like nightfall. This darkness had a silvery-grey tint to it. It was as though someone had put a giant Instagram dimming filter on everything you could see. Completely otherworldly and strange and beautiful. And then, suddenly, the eclipse hit totality: The sun was completely blocked by the moon. All around us, we could hear people crying out. These weren’t crowd noises like you’d hear at a circus, baseball game, or theater—it was gasps of awe and emotion, a collective sound I’d never heard from a crowd before. My eclipse app’s guide voice announced that it was now safe to remove our glasses and look directly up at the sun. Oh, my, god. While we’d had the glasses on, all we could see was the bright yellow crescent of the sun—and around it, blankness. No color, no detail. But with the glasses off…!! Where there should have been the sun, there was a jet-black perfect circle, sharp and laser-cut. Around it was the corona—a blazing intense spill of the sun’s atmosphere. All of it was suspended against a deep blue sky . That’s what I remember: Intense black circle, intense ring of white, intense glowing blue. Yes, there is color in an eclipse—vivid, iridescent, alien. Almost every solar-eclipse photo lies . All of those Google image searches? They’re baloney. They show a black ball against a black sky, and that is not what it looks like. I’ve tried to Photoshop the right color scheme into this photo: This is my Photoshop hack trying to show the blue sky. We could see some stars—against blue, not black. Here’s another reason why no photo can ever represent a total eclipse: Because a photo can show the corona only as bright as your screen (or piece of paper)! You don’t get any sense of how stunningly bright and pure and intense that fire is. It’s hundreds of times brighter than your screen. Our eyes can detect a much greater dynamic range (the scale of brights and darks) than any camera can. What I learned that day is that a total solar eclipse is almost alone among the things we experience, in that you can’t photograph it. To see what it looks like, you have to be there. When I looked around us, I saw a strange, gorgeous fake twilight. There was what looked like a 360-degrees “sunrise” around the entire horizon, and the sky ranged from dusky blue to deep violet. When I looked up, though, my heart raced. The intensity, the dazzling colors, the freakishness of that sight—a jet-black hole where the sun should be! I’m not a touchy-feely person by any stretch, but this was a spiritual experience; I was so moved, and I could tell that my sons were, too. I could easily see why ancient civilizations assumed that some god or mystic force was responsible for total eclipses. (I love this description by retired NASA astrophysicist Fred Espenak, who’s witnessed 27 solar eclipses: “You feel something in the pit of your stomach like something is wrong in the day, something is not right,” he told Time . “As totality begins, and the shadow sweeps over you, the hairs on the back of your neck and arms stand up.”) I’d been warned not to try to take pictures of my first eclipse; the last thing you want is to miss the magic while you’re futzing with your gear. So during the 160 seconds of totality, I allowed myself about 10 seconds to snap pictures (Sony a6000 SLR, solar filter, 210mm lens). They’re not great pictures—you really need much more zoom—but here’s the idea: Even my SLR with a solar filter captured only the roughest idea of the eclipse. Remember: The sky was deep blue, not black. As the moon began to edge out of the sun’s way, we were treated to a moment of the “diamond ring” effect as the sun breaks past the right edge of the moon: The “diamond ring” moment, where the sun begins to peek out again as the moon moves on. And again: Imagine the sky deep blue, not black. (abcnews.com) And then, as quickly as it had begun, the process reversed itself. Daylight returned, and the world’s colors faded back in. The temperature shot back up. The crowd cheered. People ran to check their cameras, or babble with their families, or wipe tears from their eyes. The first-timers, in particular, had been somehow changed. We’d all seen something freakish, rare, beautiful, shocking, historic—and much, much bigger than ourselves. I had set up a GoPro on a tripod to film the whole scene, hoping to capture the fading light and the sounds of the event. Unfortunately, I was too wrapped up in the event to notice that another guy set up his camera and tripod right in front of mine, partially blocking the shot. Sorry about that, but you still get the idea—you can see the light fall, and hear the crowds and the confused cicadas—in this time-lapse video: The modern-age eclipse Actually, this wasn’t my first solar eclipse. I can still remember my parents showing me one in the backyard in Cleveland when I was 7 years old—and using a stack of color film negatives to protect my eyes! (A little research reveals that, first of all, that’s not a safe way to view an eclipse—and second, we weren’t in the path of totality. But I remember everybody being pretty excited anyway.) What’s different, of course, is time and technology. The internet made planning our eclipse trip a snap—we could see the path of totality and observe the weather. Phone apps guided us through the experience. Those cheap cardboard eclipse glasses made it safe to look up with confidence. Social media made it possible to share the experience around the world in real time—both the exhilaration of seeing the eclipse, and, for some, the heartbreak of being thwarted by unexpected clouds (as Nashville viewers ultimately were). The next total eclipse will come to the Earth in July 2019, but most of it will be wasted on empty ocean. (You’ll be able to see it in Chile and Argentina, but it’ll be winter time, and therefore possibly cloudy.) The next one to come to the U.S. will occur in April, 2024—seven years from now. It’ll fly up from Texas to Maine, like this: nasa.gov Take it from a guy with a changed attitude: You should try to be there. I’ll be joining you. More from David Pogue: Samsung’s Bixby voice assistant is ambitious, powerful, and half-baked Is through-the-air charging a hoax? Electrify your existing bike in 2 minutes with these ingenious wheels Marty Cooper, inventor of the cellphone: The next step is implantables The David Pogue Review: Windows 10 Creators Update Now I get it: Bitcoin David Pogue’s search for the world’s best air-travel app The little-known iPhone feature that lets blind people see with their fingers David Pogue, tech columnist for Yahoo Finance, welcomes nontoxic comments in the comments section below. On the web, he’s davidpogue.com . On Twitter, he’s @pogue . On email, he’s [email protected]. You can read all his articles here , or you can sign up to get his columns by email . || AMD stock soars 7% after strong guidance, earnings beat: Shares of Advanced Micro Devices(NASDAQ: AMD)soared after the company raised its outlook and reported earnings that topped expectations. The stock surged 7 percent in after-hours trading as more than 13 million shares changed hands on Tuesday. Here's how the company did compared to expectations, according to Thomson Reuters consensus estimates: • EPS: 2 cents per share vs. break-even • Revenue: $1.22 billion vs. $1.16 billion As strong as the company's second-quarter results were, tech analyst Patrick Moorhead said there may be more good news ahead for AMD. "AMD has a lot to look forward to as none of their actuals incorporates sales of EPYC server parts, only limited sales of the new Radeon Vega and none of the Ryzen notebook parts," Moorhead, founder and principal analyst of Moor Insights & Strategy, said. While expected, Moorhead said AMD's positive operating profit was "icing on the cake." AMD said it now expects third-quarter revenue to increase about 15 percent year over year. That figure implies third-quarter revenue of about $1.50 billion, easily besting analyst projections for about $1.39 billion, according to Thomson Reuters. The company said it also sees annual revenue growth in the mid to high-teens percentage, better than its previous expectation for revenue growth in the low teens. Wall Street previously projected full-year revenue growth of about 12.8 percent, according to a Thomson Reuters consensus estimate. AMD's optimistic revenue forecasts parallel AMD's expectation for a year-over-year decline in inventory for 2017. During its Tuesday earnings call, AMD said it's in the process of catching up with demand and is ramping up production to replenish its inventory. In June, the stock jumped after the company told CNBC that the dramatic rise indigital currency prices has driven demandfor its graphics cards. At the time, majorcomputer hardware retailers had sold outof AMD's recently launched RX 570 and RX 580 models. WhileBitcoin prices have seen some recent turbulence, Bitcoin has still more than doubled in value for the year. Cryptocurrency miners use graphics cards from AMD and Nvidia(NASDAQ: NVDA)to"mine" new coins, which can then be sold or held for future appreciation. AMD traditionally has a betterreputationfor mining cryptocurrencies. During its earnings call, AMD said, however, that its still prioritizing its core gaming market. The company said it's continuing to watch developments in digital currencies. — CNBC's Evelyn Cheng and Tae Kim contributed to the report. More From CNBC • Facebook's three-pronged plan to get businesses to use Messenger more • Trump said Apple's Tim Cook 'promised' him he'd build three US factories • Blue Apron co-founder steps aside amid post-IPO jitters || Bitcoin Cash rally cools, dips below $700: Investing.com – Bitcoin Cash gave up some of its early session gains as it dipped below $700 on Thursday while its illustrious rival Bitcoin continued its trend higher following a slump earlier this week. Bitcoin Cash rose $14.35, or 2.21%, to $662, retreating from a session high of $719. The move higher in Bitcoin Cash comes a few days after the People’s Bank of China (PboC) sent shockwaves through the cryptocurrency market, after imposing a ban on individuals and businesses from raising funds through initial coin offerings (ICOs). An initial coin offering ICO is a means fundraising via the use of cryptocurrency in which a company attracts investors by releasing its own digital currency which can appreciate in value if the business is successful. On the U.S.-based Bitfinex exchange, bitcoin rose to $4,614.0, up $24.9 or 0.52%, as it seeks to return to its recent peak of $4,911.80. At current prices Bitcoin boasts a market cap of $76.31 billion. The Chinese government’s latest measures to curb the activity of initial coin offerings are seen as a threat to the strong demand currently underpinning cryptocurrency growth. Ethereum, in particular, is widely believed to vulnerable to a dip in demand following these latest regulatory measures, as ICO issuers often request payment in ether – a currency transacted through the Ethereum network. Ethereum fell 1.61% to $332. To stay on top of the latest moves in the crypto-space, be sure to check out:https://www.investing.com/crypto/ Related Articles Bitcoin Cash rally cools, dips below $700 Euro dips below $1.20 after hitting nearly two-week highs Forex - Dollar drops to 32-month lows vs. rivals after data, Draghi || Bitcoin tumbles on report China to shutter digital currency exchanges: By Gertrude Chavez-Dreyfuss and Angela Moon NEW YORK (Reuters) - Bitcoin fell sharply on Friday after a report from a Chinese news outlet said China was planning to shut down local crypto-currency exchanges, although analysts said this was just a temporary setback. Sources close to a cross regulators committee that oversees online finance activities told Chinese financial publication Caixin that authorities plan to shut key bitcoin exchanges in China. Reuters was not immediately able to verify the report. But two sources in direct contact with officials at three Chinese bitcoin exchanges - Beijing-based OKCoin, Shanghai-based BTC China, and Beijing-based Huobi - said the platforms told them that they have not heard anything from the Chinese government. The news follows China's move earlier this week 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. Greg Dwyer, business development manager at crypto-currency trading platform BitMEX, said there was confusion over whether China would close bitcoin exchanges following the ICO ban. "If this turns out to be true, then this sell-off is substantiated, and we could see further downside over the weekend, as it could mean the large bitcoin/Chinese yuan exchanges will need to halt trading," he added. Bitcoin dropped to a low of $4,227 (BTC=BTSP) on the BitStamp platform and last traded at $4,309.80, down 6.6 percent. On Sept 2, it hit a record high of nearly $5,000. Sharp losses such as Friday's are par for the course for an asset like bitcoin, analysts said. Over the course of its eight-year history, bitcoin has on a daily basis risen as much as 18 percent and fallen as much as 13 percent. Still, bitcoin was still up nearly 346 percent this year. John Spallanzani, chief macro strategist at GFI Group, said Friday's losses could be short-lived. "Bitcoin is here to stay," he said. Jehan Chu, a partner at Jen Advisors, a Hong Kong-based early-stage blockchain venture capital firm, noted that should China shut down bitcoin exchanges, it will not be the end of the crypto-currency world in the country. Blockchain, a digital ledger of transactions underpinning bitcoin, has leapt to prominence as it enable users to track and record assets across all industries. "This is just China pressing the 'Pause button," said Chu. 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. By mid-July, tech firms had raised about $1.1 billion in 89 coin sales this year, roughly 10 times more than in all of 2016, data from crypto-currency research firm Smith + Crown showed. (Reporting by Gertrude Chavez-Dreyfuss and Angela Moon; Editing by Dan Grebler and Chizu Nomiyama) || Bitcoin surges past $4,100 despite reports of a wide-ranging crackdown on trading in China: (Bitcoin-mining computers are pictured in Bitmain's mining farm near Keflavik, Iceland.Thomson Reuters) Bitcoinhas surged past $4,100 a coin on Monday, despite reports that Chinese authorities have decidedon a plan for a wide-ranging crackdown on the cryptocurrency. The plan, which regulators revealed to cryptocurrency executives on Friday during a private meeting in Beijing, goes further than just a shutdown on exchanges, according to reporting by The Wall Street Journal's Chao Deng. According to Deng, Beijing regulators plan to shut down all channels for exchanging the cryptocurrency — not just commercial ones. "The crackdown on the bitcoin ecosystem represents Beijing's possibly biggest effort so far to limit expansion of a system to rival the yuan," Deng wrote. Bitcoin collapsed spectacularly last week as news of a regulatory crackdown in China broke. The cryptocurrency dropped 16% against the dollar on Thursday after Chinese media reported that the country's regulators weremoving closer to shutting down exchanges. Bitcoin recouped most of those losses Friday even after two of thelargest exchanges in China, OKCoin and Huobi, released statements saying they would shut down all trading between yuan and bitcoinon their exchanges. The digital coin continued to prove its resiliency Monday, trading up near 11% at $4,118. It had briefly dipped below $3,000 Friday morning. Bitcoin is up about 325% this year. NOW WATCH:SRI-KUMAR: Watch the bond market for signs of a recession More From Business Insider • Bitcoin slides after Jamie Dimon bashes the cryptocurrency • JAMIE DIMON: Bitcoin is a fraud that's 'worse than tulip bulbs' • BANK OF AMERICA: Bitcoin is the 'most crowded' trade || China's virtual coin fundraising ban just the start of tighter regulations: Yicai: BEIJING (Reuters) - China is poised to further tighten rules on virtual currencies after regulators on Monday banned virtual coin fundraising schemes, Chinese financial news outlet Yicai reported citing sources. China banned and deemed illegal the practice of raising funds through launches of token-based digital currencies, targeting so-called initial coin offerings (ICO) in a market that has exploded since the start of the year. Yicai's report late Monday cited a source close to decision-makers as saying the announcement on the ban was just the start of further follow-up regulations of virtual currencies. In total, $2.32 billion has been raised through ICOs globally, with $2.16 billion of that being raised since the start of 2017, according to cryptocurrency analysis website Cryptocompare. The rapid ascent of ICOs prompted the U.S. Securities and Exchange Commission (SEC) to warn in July that some ICOs should be regulated like other securities. Singapore and Canada followed with similar warnings. Bitcoin rival Ethereum, which token-issuers usually ask to be paid in and which has seen dramatic growth this year, fell sharply on the news. It was down almost 20 percent on Monday and fell a further 5 percent on Tuesday, according to trade publication Coindesk. Bitcoin was also down another 4.6 percent on Tuesday after falling 8 percent on Monday. Major virtual currency trading platforms BTCC and Huobi had no comment on the ICO ban when contacted by Reuters. Chinese ICO platform ICOINFO (www.ico.info) said in a notice on Tuesday that it has stopped all ICO services and is working with groups that issued virtual tokens on its platform to return funds to investors. ICOINFO said several projects had already returned funds to investors' accounts and that users would be able to begin withdrawing funds from the platform at 10:00 am local time Tuesday. Another Chinese exchange, Binance, said in a statement on its website that it is "working around the clock on a solution that will fully satisfy the new regulations in China". However, it was looking at "preserving and enhancing features that are valuable to our western community, which accounts for more than 81 percent of our user base," the statement said. Some members of a chat group on the social networking platform WeChat set up for an ICO last week complained about the strict regulation, and wondered when they would get their funds back. Some users commenting on the website QQ.com welcomed the regulation, saying it would help the Bitcoin ecosystem in the long-run. "Regulation of ICOs is the best thing that could have happened to Bitcoin. From now on there won't be any reckless issuance of virtual currencies" wrote one user, who saw a bright future for the currency. "For the past eight years, each time Bitcoin has declined in value has been a great buying opportunity." (Reporting by Elias Glenn; additional reporting by Brenda Goh, Andrew Galbraith and the Shanghai newsroom; Editing by Shri Navaratnam) || Dollar, shares bounce on relief at North Korea inaction: By Wayne Cole SYDNEY (Reuters) - The U.S. dollar won a reprieve from risk aversion on Monday after North Korean dictator Kim Jong Un decided to hold a party over the weekend rather than launch another missile, tempering safe havens like the yen and Treasuries. Investors remained cautious over the possible economic impact of Hurricane Irma as it chewed its way up the Florida coast, knocking out electricity to 2.5 million homes and businesses statewide. Nikkei futures (NKc1) were trading up 0.8 percent after Pyongyang held a massive celebration to congratulate the nuclear scientists and technicians who steered the country's sixth and largest nuclear test a week ago. The United States and its allies had been bracing for another long-range missile launch in time for the 69th anniversary of North Korea's founding on Saturday. The sense of relief was enough to lift E-Mini futures for the S&P 500 (ESc1) by 0.3 percent, while Treasury 10-year note futures fell 10 ticks. The U.S. dollar edged up to 108.43 yen (JPY=) and away from Friday's 10-month trough of 107.32. Against a basket of currencies, the dollar added 0.2 percent to 91.521 (.DXY) but that was still uncomfortably close to last week's 2-1/2 year low of 91.011. The euro eased to $1.2015 (EUR=), having hit a top of $1.2092 on Friday amid speculation the European Central Bank was closer to starting a wind-back of its stimulus program. ECB officials last week generally agreed their next move would be to cut their bond purchases and discussed a range of options, Reuters reported. China's central bank was also a focus in Asia after sources said it plans to scrap reserve requirements for financial institutions settling foreign exchange forward yuan positions with effect from Monday. "The removal potentially makes it easier for traders to purchase the USD, easing the pressure for yuan appreciation," said analysts at ANZ in a note. "The change likely signals some discomfort about the stronger yuan and its impact on Chinese exports." Story continues The dollar was last up 0.25 percent against the offshore yuan at 6.5013 yuan (CNH=), off a low of 6.4437. There were also reports Beijing was planning to shut down local crypto-currency exchanges, dealing a blow to Bitcoin's recent stellar rally. Bitcoin was quoted down 0.8 percent at $4,274 (BTC=BTSP) on the BitStamp platform, off the recent record high of nearly $5,000. In commodity markets, gold softened 0.7 percent to $1,337.01 an ounce (XAU=) and away from a one-year peak of $1,357.54. Oil prices regained a little ground after falling sharply on Friday amid worries that energy demand would be hit hard by Hurricane Irma. [O/R] U.S. crude (CLcv1) was trading 22 cents firmer at $47.70 a barrel, while Brent (LCOcv1) rose 17 cents to $53.95. (Editing by Richard Pullin) || GLOBAL MARKETS-Stocks on defensive after selloff on North Korea fears: * Many Asian markets in red but China up on economic optimism * Tensions over North Korea weigh on sentiment * Copper, China shares aided by China policy support hopes * Bitcoin falls after China bans initial coin offerings * European shares seen up slightly By Hideyuki Sano TOKYO, Sept 5 (Reuters) - Asian shares eked out small gains on Tuesday as expectations that Beijing will maintain support for its economy ahead of a key congress supported Chinese stocks and metals prices, but worries about North Korea kept many investors on edge. European shares were expected rise slightly after a slide on Monday. Spread betters see Germany's DAX and France's CAC gaining 0.3 percent and Britain's FTSE 0.1 percent. But Wall Street looked set to open slightly softer after a long holiday weekend during which Pyongyang triggered its most powerful nuclear test yet. S&P500 mini futures, which had slid on Monday, last stood at 2,469, 0.2 percent below Friday's close. MSCI's index of Asia-Pacific shares outside Japan was up 0.2 percent thanks to gains in Chinese shares, though many markets were in the red. Japan's Nikkei fell 0.6 percent on fears that more provocation from North Korea is possible. Media said the North appeared to be preparing for further ballistic missile tests. The White House said on Monday that "all options to address the North Korean threat are on the table" while U.S. Ambassador to the United Nations Nikki Haley urged the 15-member U.N. Security Council to impose the "strongest possible" sanctions to deter Pyongyang. "It's not clear whether diplomacy can solve this problem given it has failed for the last 25 years," said Norihiro Fujito, senior investment strategist at Mitsubishi UFJ Morgan Stanley Securities. "But the U.S. doesn't seem to be ready for a military action soon, either. So we are likely to see continued stalemate, which will keep a tab on share prices." Fears about North Korea kept safe-haven assets in demand, with gold rising 0.1 percent to $1,336 per ounce, after having hit a 11-month high of $1,339.8 on Monday. In the currency market, the yen, which usually gains on risk aversion due to Japan's net creditor nation status, gained 0.4 percent to 109.32 yen to the dollar, near Monday's high of 109.22 yen. The euro slightly extended its gains to trade at $1.1905. But it kept some distance from a 2-1/2-year high of $1.2070 hit last week on rising expectations that a stronger euro could slow the European Central Bank's (ECB) plans to rein in its bond-buying stimulus scheme. The Chinese yuan hit a near 16-month high of 6.515 per dollar. It has gained 2.0 percent in less than two weeks, a sizable move for the pair, in response to dollar weakness and a series of stronger midpoints set by the central bank. The Shanghai composite index of mainland Chinese shares hit its highest levels since January 2016, due to solid economic and earnings growth in China in recent months and expectations that Beijing will not tolerate any disruptions ahead of a key Communist Party Congress in mid-October. Such expectations also helped to lift copper to a near three-year of $6,944.5 per tonne. It last stood at $6,933, up 0.2 percent on the day. The prices of steel and iron ore have rallied in recent weeks. But some analysts say profit-taking in base metals could start soon. "Now that Beijing fixed its schedule on the national congress, it may no longer accelerate infrastructure spending," said Tatsufumi Okoshi, senior economist at Nomura Securities. "We should be mindful of the possibility that iron ores, steel and other non-ferrous metals will peak out soon." U.S. crude oil prices edged higher while U.S. gasoline prices slumped to pre-Hurricane Harvey levels, as oil refineries and pipelines in the U.S. Gulf Coast slowly resumed activity, easing supply concerns. U.S. West Texas Intermediate (WTI) crude futures ticked up 0.2 percent to trade at $47.38 per barrel. The return of U.S. refineries ended a spike in gasoline prices as initial fears of a serious supply crunch faded. U.S. gasoline futures dropped 4.1 percent from their last close, to $1.67 per gallon, down from $2.17 touched on Aug. 31 and back to levels last seen before Harvey hit the U.S. Gulf coast and its large refining industry. Elsewhere, bitcoin dropped further from Saturday's all-time high of $4,979.9 to trade at $4,012 after China on Monday banned the practice of raising funds through launches of token-based digital currencies, or so-called initial coin offerings (ICO). (Editing by Richard Borsuk and Kim Coghill) || Brash Investor Tries to Blow Up the IPO as His Partners Quit: Chamath Palihapitiya, an early Facebook executive and outspoken presence in Silicon Valley, is unapologetic about his frustrations with the venture-capital industry. There’s too much money chasing deals, making it harder to generate strong returns. Too many VCs conflate luck with talent. And everyone who benefits from the current system is resistant to change. Technically, Palihapitiya is a venture capitalist himself. But he aspires to be a master of the universe, as his firm, Social Capital , expands with separate funds for late-stage investing, debt, and public equities. Founded in 2011 to back early-stage startups, Social Capital now manages $1.8 billion worth of assets. It looks less like a traditional venture-capital firm and more like a tech-focused private-equity conglomerate. Palihapitiya takes inspiration from Warren Buffett’s model of investing in and acquiring companies for the long term. “I want to fucking dominate this industry,” he says, punctuating each word with a table pound. As it expands, Social Capital is losing core members of its initial team. Co-founder Mamoon Hamid abruptly left last month to join Kleiner Perkins Caufield & Byers. Now, the third co-founder, Ted Maidenberg, also plans to leave the firm, according to people familiar with the matter. Chamath Palihapitiya,Tom Farley Chamath Palihapitiya, left, is applauded by NYSE president Tom Farley as he rings a ceremonial bell to commemorate the beginning of his company's stock trading on September 14, 2017. Richard Drew/AP Maidenberg has no timeline for his departure but will not participate in Social Capital’s fourth early-stage venture capital fund, expected next year. The firm has deployed around two-thirds of its $600 million, third early-stage fund, raised in 2015, according to a person familiar with the situation. Maidenberg plans to keep all of his board seats and continue to work with existing portfolio companies. Maidenberg and Hamid are early-stage investors who saw the firm moving away from its original mission, according to people familiar with the situation. “Most firms prioritize the portfolio companies first, then the limited partners, and then growing the firm,” one person familiar with the situation said. Story continues Maidenberg’s departure will leave Palihapitiya as the sole founder of an increasingly diverse operation. According to Palihapitiya, Social Capital’s model of investing in startups across every stage and asset class, “resets how this industry should work in a more rational way.” Regarding the venture industry, he says, “If we’re really going to be part of the future, we need to mature and grow up.” Recommended Kitchen apron icon illustration design Money Money With Blue Apron’s IPO, Wall Street Reins in Silicon Valley It's a sign of the times. Analysis Wall Street's Scrambling to Catch Up With Silicon Valley Startups are selling themselves as much-needed improvements on the hidebound world of old-school banks and brokerages. And Wall Street is starting to worry. Finance The Initial Coin Offering, the Bitcoin-y Stock That's Not Stock—But Definitely a Big Deal Next month, Blockchain Capital will build a new venture capital fund using a bitcoin-like digital token instead of dollars Beyond its expansion, Social Capital hopes to change how some companies go public with a novel solution: a special purpose acquisition vehicle, or SPAC. On Thursday, the firm raised $600 million in an IPO for its first such SPAC, dubbed Social Capital Hedosophia. This publicly traded shell company will use money it raised to acquire all or part of a privately held tech company, thereby taking the target company public. Most likely, the SPAC will acquire a minority stake in a company worth more than $600 million; it could buy 10% of a company worth $6 billion, for example. Palihapitiya and crew are hoping SPACs can save Silicon Valley’s unicorns from IPO purgatory---where they are valued more highly as private companies than they likely will attain as public ones---and irritate bankers like Goldman Sachs and Morgan Stanley along the way. “Nobody wants to fucking deal with Morgan and Goldman,” Palihapitiya says. “You take the entire process out of the hands of bankers and you put it into the hands of technologists who understand the company.” Social Capital is not doing this for free, though. The firm will charge 20% of the value of the deal, to be paid in stock with a one-year lock-up. The firm is calling this model IPO 2.0. Palihapitiya is not the first to attempt a new way of going public. Google’s Dutch auction in 2004 was regarded as a success but few companies chose to repeat it. More recently, Spotify is reportedly planning to cut out investment banks entirely by listing its shares directly on NYSE. Tech executives often cite the IPO process as a reason to put off going public. They say it is a time-consuming distraction that forces them to glad-hand investors who set the price of the IPO but may sell the stock on the first day of trading. They hate mandated lock-ups that prevent employees from selling their stock for a period after an IPO, and they resent paying fees to investment banks for the whole miserable experience. To pull off a reverse merger, Palihapitiya has recruited Tony Bates, former president of GoPro, and Adam Bain, the former COO of Twitter. Bain, who left Twitter last November, says the SPAC will not be a full-time gig for him. Having gone through Twitter’s IPO, he sees an opportunity to fix the “acute pain points” in the traditional process, particularly the way an IPO distracts a company’s management from running the business. “If IPO 2.0 can help solve that problem, [it] could be a good answer to getting higher quality companies out,” he says. A SPAC deal would take just 90 days to complete. With a shorter time frame and a streamlined process, venture investors could see a faster return on their investments, startup employees could cash in on their stock sooner, and public-market investors could get access to high-growth tech startups while they’re still actually growing. There are challenges: Palihapitiya and executives of the target company will have to agree on a price that both companies’ investors will accept. He will need to ensure that any company the SPAC acquires is ready for the scrutiny of being public, with quarterly earnings reports and analyst coverage. If he can’t strike a deal within two years, he must return the money to the SPAC’s investors. Using a SPAC to buy a high-growth tech startup is unusual, but Palihapitiya might be onto something. By mid-afternoon Thursday, 15 highly valued tech startups had called expressing interest in a possible deal, he says, noting that SEC rules prevent the firm initiating deal talks until October 1. “Somebody has to fix this stuff,” he says. “I may as well go fix the fucking system.” || Weekly outlook: August 28 - September 1: Dollar falls to 2-year lows against stronger euro Investing.com - The dollar fell against a basket of the other major currencies on Friday and plumbed its lowest level against the euro in more than two years as investors digested speeches by global central bank officials. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.82% at 93.47 late Friday after falling as low as 92.34 earlier. The dollar weakened after a speech by Federal Reserve Chair Janet Yellen at the Jackson Hole economic symposium made no reference to monetary policy , disappointing some investors who had hoped she would sound a hawkish tone. The dollar index has fallen around 10% so far this year amid ongoing uncertainty over the economic agenda of U.S. President Donald Trump and doubts that the Fed will deliver a third rate hike this year Lower rates typically weigh on the dollar by making U.S. assets less attractive to yield-seeking investors. EUR/USD hit a high of 1.1941, the most since January 2015. It was up 1.06% at 1.1924 late Friday, its largest one day percentage gain in two months. The single currency was boosted after a speech by European Central Bank President Mario Draghi avoided giving any new indication as to when the bank might wind down its stimulus program, but acknowledged that the recovery in the euro area is gaining momentum. The euro hit an eight year high against the pound, with EUR/GBP rising as high as 0.9270, the most since October 2009. It was last at 0.9257, up 0.42% for the day. The euro has risen more than 8% against sterling so far this year, reflecting the diverging economic outlook for the euro zone and the UK and its implications for monetary policy. Sterling was higher against the softer dollar, with GBP/USD rising 0.61% to 1.2878, rebounding from Thursday’s two-month lows of 1.2773. The dollar slid lower against the yen, with USD/JPY sliding 0.17% to 109.36. In the week ahead , investors will be focusing on Friday’s U.S. jobs report for August to gauge how it will impact on the path of Fed policy. Traders will also be closely watching a revised reading of U.S. second quarter growth. Story continues Thursday’s euro zone preliminary inflation estimate will also be in focus. Ahead of the coming week, Investing.com has compiled a list of these and other significant events likely to affect the markets. Monday, August 28 Financial markets in the UK are to remain closed for a holiday. Tuesday, August 29 Canada is to release data on raw materials price inflation. The U.S. is to report on consumer confidence. Wednesday, August 30 Australia is to release data on building approvals and completed construction work. Germany is to release preliminary inflation data. The UK is to produce data on net private lending. The U.S. is to release the ADP nonfarm payrolls report as well as revised data on second quarter growth. Thursday, August 31 China is to release survey data on activity in the manufacturing and services sectors. New Zealand is to publish a report on business confidence. Australia is to produce data on private capital spending. The euro zone is to release its preliminary inflation estimate while Germany is to report on retail sales. Canada is to release monthly data on GDP growth. The U.S. is to put out a string of data, including reports on jobless claims, personal income and spending and pending home sales. Friday, September 1 China is to publish its Caixin manufacturing PMI. The UK is to release data on manufacturing activity. The U.S. is to round up the week with the non-farm payrolls report for August and the Institute for Supply Management is to publish its manufacturing index. Related Articles CFTC: Gold Net Longs at 9-Month High; Speculators More Bearish on Sterling Bitcoin sets sight on $5,000 as rally continues Dollar near 3-week lows after Yellen avoids monetary policy in speech [Random Sample of Social Media Buzz (last 60 days)] شرح موقع HashFlare لتعدين عملة الإثيريوم والبيتكوين شرح موقع HashFlare لتعدين عملةhttps://arab-btc.net/%d8%b4%d8%b1%d8%ad-%d9%85%d9%88%d9%82%d8%b9-hashflare-%d9%84%d8%aa%d8%b9%d8%af%d9%8a%d9%86-%d8%b9%d9%85%d9%84%d8%a9-%d8%a7%d9%84%d8%a5%d8%ab%d9%8a%d8%b1%d9%8a%d9%88%d9%85-%d9%88%d8%a7%d9%84%d8%a8/?utm_source=ReviveOldPost&utm_medium=social&utm_campaign=ReviveOldPost … || Current price of $Bitcoin is $3995.00 via #Chain || ION PRICE Bid: $1.86 Ask: $1.88 Last: $1.88 1 BTC: $3845.00 Tweet number: 83 || Well, it's going down. Like most alts are getting crushed by BTC. || Nagdagdag ng P5.00 sa invesment kahit bumaba ang value. #bitcoin #coinsphpic.twitter.com/OURFxJojvL || #BTC 24hr Summary: Last: $4140.00 High: $4150.00 Low: $3736.03 Change: 9.68% | $365.30 Volume: $100,588,300.7 $BTC #Bitcoin #Pricebotspic.twitter.com/LdAezdJzuI || $4090.30 at 12:45 UTC [24h Range: $4010.00 - $4353.06 Volume: 14726 BTC] || 今度はBTCがぐいぐい下がってる… || #BTC 24hr Summary: Last: $4340.00 High: $4368.99 Low: $4150.00 Change: 3.79% | $158.33 Volume: $44,652,797.42 $BTC #Bitcoin #Pricebotspic.twitter.com/xwP8GU2lK5 || Thank God it's monday $neo $qwark $pay $bqx #ath #bitcoin #altcoin
Trend: up || Prices: 3631.04, 3630.70, 3792.40, 3682.84, 3926.07, 3892.35, 4200.67, 4174.73, 4163.07, 4338.71
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'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 || Ericsson Core to Enable WiFi Calling and VoLTE for Cable & Wireless in Panama: MIAMI, FL, and STOCKHOLM, SWEDEN--(Marketwired - Feb 21, 2016) - Cable & Wireless Communications Plc ( LSE : CWC ) Ericsson to upgrade core network to enable Wi-Fi calling and voice over LTE for Cable & Wireless Panama's (CWP) network CWP customers will enjoy both voice and video calling, and seamless handover is enabled between LTE and Wi-Fi, which provides operator voice services in more locations driving loyalty among subscribers Cable & Wireless Communications Plc ( LSE : CWC ) today announces Ericsson ( NASDAQ : ERIC ) will support an upgrade of the Cable & Wireless core network in Panama with an IMS and Evolved Packet Core solution that will enable strong possibilities of fixed and mobile convergence and enhanced subscriber services like Wi-Fi calling and voice over LTE (VoLTE). "We are constantly working to enhance and upgrade our network and offer more services for our customers," said Carlo Alloni, EVP Technology and Group CTIO. "As a result of this upgrade, we will be able to offer our customers in Panama more options to make regular operator calls everywhere, and to have better quality all the time in a simple, seamless way," added Alloni. The Ericsson Wi-Fi calling solution is based on an Evolved Packet Core (EPC) with a Wi-Fi Mobility Gateway (ePDG and TWAG combined) and Ericsson IP Multimedia Subsystem (IMS). The solution is verified towards the smartphone brands that support Wi-Fi calling. The IMS will also support voice over LTE services which will be implemented in the near future. Rollout, integration, and implementation are currently underway. "With this solution Cable & Wireless will be able to utilize one efficient core network to enable several communication services. In addition, it will unleash a superior communication services user experience by delivering seamless HD voice and video calling services in more locations," said Clayton Cruz, Vice President of Ericsson Latin America. In the Ericsson ConsumerLab report "Wi-Fi Calling Finds Its Voice," (July 2015), 5 out of 10 respondents from the United States said that they would use the service if it were made available. Story continues Ericsson Wi-Fi calling Ericsson Mobile Telephony Evolution with VoLTE Ericsson IMS Ericsson Evolved Packet Core For media kits, backgrounders and high-resolution photos, please visit www.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 in 2015 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.com www.ericsson.com/news www.twitter.com/ericssonpress www.facebook.com/ericsson www.youtube.com/ericsson FOR FURTHER INFORMATION, PLEASE CONTACT Ericsson Corporate Communications Phone: +46 10 719 69 92 E-mail: [email protected] Ericsson Investor Relations Phone: +46 10 719 00 00 E-mail: [email protected] About Cable & Wireless Communications Plc Cable & Wireless Communications Plc (CWC) is a full service communications and entertainment provider, operating in Latin America and the Caribbean. With annual sales of over US$2.4 billion, it operates both mobile and fixed networks, supported by submarine and terrestrial optical fibre backhaul capacity. CWC delivers superior high-speed mobile data, broadband and video services. It has leading market positions in Mobile, Fixed Line, Broadband and Video 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 Group also operates a state-of-the-art subsea fibre optic cable network that spans more than 48,000 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 7,300 employees serving 6.4 million customers (Mobile 4.1m; Fixed Line 1.1m; Video 470k and Broadband 690k) across 42 countries. The Group'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 Plc's shares are quoted on the London Stock Exchange under the ticker CWC. The Group is headquartered in London with its operational hub located in Miami, within close proximity to the Caribbean and Latin America. For more information visit: www.cwc.com . || 6 trades to watch in an uncertain market: After U.S. stocks followed global markets lower Thursday, "Fast Money" traders outlined what they deemed safe plays to ride out uncertainty. Major averages each closed down more than 2 percent, after a brief Chinese trading session in which a 7 percent drop in the CSI300 triggered a halt. Traders looked to longer-term plays that could offer protection through volatility. Market Vectors Gold Miners ETF(NYSE Arca: GDX) The price of gold(CEC:Commodities Exchange Centre: @GC.1), a traditional "safe haven" asset, climbed Thursday amid the uncertainty in stock and oil markets. The Market Vectors Gold Miners ETF rose more than 4 percent for the day. Both traders Guy Adami and Brian Kelly said gold likely has more upside ahead. iShares 20+ Year Treasury Bond ETF(NYSE Arca: TLT) U.S. Treasury prices rose in choppy trading Thursday amid a flight to safer assets, sending yields lower. In that environment, the iShares 20+ Year Treasury Bond ETF could make a good play, said Adami and trader Dan Nathan. Utilities Select Sector SPDR Fund(NYSE Arca: XLU) Utilities offer a place to "hide" in current markets, said trader Steve Grasso. Nathan also identified them as a defensive play because of their dividend yields. They looked to the Utilities Select Sector SPDR Fund, which fell slightly on Thursday. Retail Shares of department store chain Macy's(NYSE: M)climbed about 2 percent Thursday in the wake of a restructuring announcement. Adami believes the stock can rise even more. Grasso also outlined possible strength in American Eagle Outfitters(NYSE: AEO). Verizon(NYSE: VZ) Nathan also saw Verizon as a possible play for investors looking for yield. Disclosures: Dan Nathan Dan Nathan is long MCD Feb Put Spread, Long PFE buy-write, long TWTR March Risk Reversal, long UUP March call, long XLU Feb Call spread, long PYPL Jan Risk Reversal, long M Jan16 call spread, long NTAP Jan risk reversal, long QCOM feb calls, short SPY, Long UUP, long WMT puts Steve Grasso Steve Grasso is long AAPL, BA, BAC, CC, DD, DIS, DECK, EVGN, KBH, MJNA, MBLY, MU, OLN, PFE, PHM, T, TWTR, GDX firm is long APC, CXO, OXY, BP, CVX, MCD, RIG, AMZN kids own EFA, EFG, EWJ, IJR, SPY Brian Kelly Brian Kelly is long BBRY, Bitcoin, GDX, GLD, Hong Kong Dollar, TLT, US Dollar; he is short British Pound, Euro, Yuan, Canadian Dollar, GSG, EEM, EWC, EWH, KRE, SPY, DB Guy Adami 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 || The IT industry is launching new markets worth more than $2 trillion, IBM CEO says: IBM CEO Ginni Rometty (Business Insider) IBM CEO Ginni Rometty It's fashionable these days to beat up on IBM and its CEO, Ginni Rometty. It's easy to point to a struggling share price, shrinking revenues across just about all of its traditional core businesses, a downright addiction to share buy-backs to prop-up share price and earnings-per-share ($4.5 billion worth of buybacks last year alone, a $125 billion worth in the decade prior.) Plus there's the never-ending layoffs handled with an almost paranoid sense of secrecy . But an extremely cheerful Rometty opened the company annual investor's day on Thursday to explain, again, where's she's leading the company and offer update on the progress. "I've been looking forward to this day," she told them with a big smile. This is in sharp contrast to the grin-and-bear-it mood of last year's investor meeting, when Rometty had just failed to meet her predecessor's promise of hitting $20 earnings per share in 2015. She says IBM is on track to meet her promise to investors, made last year, of hitting $40 billion worth of revenue in a bunch of new and more profitable markets by 2018. These include big data/analytics, cloud computing, security, social and mobile. The company has already hit $29 billion in these "strategic imperative" areas, and they are now 36% of IBM's $82 billion of revenue, she said. These new markets, which IBM calls "decision support" represent a $2 trillion market. Plus IBM sees a bunch of other growth markets. 1. Machine learning (which IBM calls 'cognitive computing") is at the heart of the $2 trillion market IBM sees developing by 2025 . This is where smart computers that can learn, can understand all kinds of data (even audio, photos, videos), reason, talk, make decisions and learn. Companies will use this to make all of their important decisions she believes. And it will be used to solve other problems like managing and curing illness. Watson is already being used by medical device manufacturer Medtronic to help patients predict dangerous low-blood sugar events up to two hours before they occur. Story continues Decision support will create $2 trillion worth of IT spending beyond the $1 trillion companies already spend on software, services and hardware. IBM Decision Support market (IBM) IBM sees a $2 trillion "decision support" market beyond the traditional software, services and hardware market where it already competes. 2. Hybrid computing will become a $400 billion market. This is a revamp of the traditional $1 trillion market. It's where companies maintain their own data centers while also using the cloud. Rometty didn't offer a time frame when this market will be worth that much. Some market researchers say it will be an $88 billion market in 2019. But she insists that most companies will adopt this model forever and that it's "not a transition phase" on the way for companies to go "all-in" on the cloud and unplug their data centers. In other words, she believes that IBM will continue to sell its hardware and software to companies forever, in addition to selling its cloud services. IBM investor briefing, Ginni Rometty (Business Insider) IBM CEO Ginni Rometty That's in contrast to the message being told by happy Amazon cloud customers. Amazon, the cloud computing leader, doesn't sell hardware or software and has an increasing roster of huge customers that are unplugging their data centers completely to use Amazon's cloud exclusively. Rometty offers as proof that hybrid is the future: In 2015 IBM's consulting unit signed 70 contracts "greater than $100 million" and "7 out of 10 of them were about hybrid cloud," she says. 3. Internet of Things will be a $400 billion market by 2019 . That's where all kinds of objects get sensors, apps and join the internet. All of the apps that run all of those objects will live on somebody's cloud. Every big IT company is going after this market. Cisco has said that IoT will be much bigger, a $19 trillion market in a decade. 4. Blockchain will eventually be worth "hundreds of billions of opportunity," Rometty says. Blockchain is the tech that underlines the online currency called Bitcoin. But Rometty says that it's much bigger than Bitcoin. It's a technology that can secure all kinds of important data, financial and otherwise. She says that IBM is already using it internally and IBM has already introduced a blockchain cloud computing service. She's not alone in thinking Blockchain will be huge. VC Marc Andreessen has been touting it, and investing in it . And the nonprofit Linux Foundation has launched a consortium to develop blockchain. IBM is a member, as is a who's who roster of tech and financial services companies. NOW WATCH: We tried Shake Shack and In-N-Out side by side, and it's clear which one is better More From Business Insider This man grew his company from $30 million to $100 million in one year, mostly thanks to Amazon Bill Gates offered the best advice on how to not feel overwhelmed when taking on huge projects Sexism almost ended the career of one of the most powerful women in the Valley and her new startup is fighting back || University of California notifies 80,000 of cyber attack: SAN FRANCISCO (Reuters) - Officials at the University of California Berkeley said on Friday that they were alerting 80,000 people, including current and former students, faculty and vendors of a cyber attack on a system that stores social security and bank account numbers. The news comes just more than a week after a Southern California hospital paid hackers $17,000 in the digital currency Bitcoin to regain control of their computer systems after a so-called "ransomware" attack. The San Francisco Bay Area university said there was no evidence that attackers actually took any personal information, but that it was still alerting the 80,000 individuals to be on the lookout for misuse of their information. The school said a hacker or hackers gained access to its financial management software in late December due to a security flaw present when the system is updating. Officials have notified law enforcement, including the FBI, and hired a private computer investigation company. The university said among the potentially affected are 57,000 current and former students; about 18,800 former and current employees; and 10,300 vendors who work with the school. Those figures come out to about half of the school's current students and two-thirds of its active employees. Large, high-profile organizations and businesses routinely come under cyber attack, and the school said it frequently identifies similar hacking attempts. "The security and privacy of the personal information provided to the university is of great importance to us," Paul Rivers, UC Berkeley's chief information security officer, said in a statement. "We regret that this occurred and have taken additional measures to better safeguard that information." The school said it was providing credit protection service free of charge to those potentially impacted. (Reporting by Curtis Skinner in San Francisco; Editing by Sharon Bernstein) || MarilynJean Interactive (MJMI.QB) Shareholder Update: Marilynjean Interactive (MJMI) Is Pleased To Update Its Shareholders on Its Business Plan for the Coming Year HENDERSON, NV / ACCESSWIRE / January 18, 2016 /The crypto-currency space saw major strides forward in 2015 with ground-breaking developments in its underlying technology and regulation as well as an unexpected rise in Bitcoin prices. The space appears poised for a quantum leap forward in 2016 and MarilynJean is excited to be a part of what will likely be tremendous growth in the industry. From a technology standpoint, Bitcoin's blockchain is envisioned to revolutionize the settlement of securities and payments for both financial and non-financial institutions alike. Major stock and futures exchanges, clearing houses, and other technology organizations are exploring the use of blockchain technology to underpin their transaction verification systems. Bloomberg estimates that approximately $373 million was invested in Bitcoin start-ups in 2015. As investment in Bitcoin and blockchain technology grew, new regulation evidenced that Bitcoin is on track to become a widely used and accepted currency. New York issued its first Bitlicense allowing Goldman Sachs backed Circle Internet Financial to offer digital currency services in the state. The advent of regulated exchanges and trading instruments may have been a factor in driving demand for Bitcoin, its value having increased over 40% in 2015. While price volatility remained higher than traditional FIAT currencies, 2015 was overall a more stable year than its predecessor for Bitcoin. Looking ahead to 2016, MJMI plans to continue its focus on the key verticals of exchange, remittance and gaming. In addition, the Company plans to seek partnerships with firms involved specifically in development of applications based on blockchain technology. The Company plans to continue to expand its management and advisory board in 2016, advance the partnerships it began negotiating last year and continue to forge new alliances in the space. Peter Janosi, MJMI's president said: "We believe that MJMI's best avenue for growth is via acquisitions and strategic partnerships. We expect the industry to continue to expand and evolve rapidly and, as such, we expect our publicly traded currency to be a key strategic tool for growth and financing." About MJMI MJMI is in the business of providing safe and accessible services for the users of Bitcoin and other crypto-currencies. Crypto-currencies are a medium of exchange using cryptography to secure transactions and control the creation of new units. Bitcoin became the first decentralized crypto-currency in 2009. Crypto-currency is produced at a rate which is defined when the system is created and publicly known. By contrast, in centralized banking and economic systems, such as the Federal Reserve System, corporate boards or governments control the supply of currency by printing units or demanding additions to digital banking ledgers. However, neither companies nor governments can produce units of crypto-currency and as such the value of crypto-currencies are completely based on supply and demand, free from any governmental control. Many people believe crypto-currencies, and in particular Bitcoin, hold the promise of being the most significant advancement in global finance in modern history. The advent of Bitcoin creates a secure, easily accessible and transferable transnational currency that is completely liberated from political influence. MJMI is currently exploring partnerships in several verticals within the crypto-currency space. Management believes that several industries, including international remittances, currency exchange and online gambling are on the verge of being revolutionized by the use of Bitcoin to effect transactions. MarilynJean Media Interactive is among the first publicly traded companies focused on Bitcoin and the crypto-currency space. The company's trading symbol is OTCQB: MJMI. Website:www.marilynjean.comPress Contact:[email protected] SOURCE:MarilynJean Media Interactive || Sprott Out At Namesake Gold Fund As Price Collapse Takes Toll: With gold's decline, an entire precious metals industry is in peril. And Eric Sprott's just the canary in the gold mine. [This article first appeared on IndexUniverse.com and is republished here with permission.] For those of you who regularly read my stuff, you know I love to write about charts and numbers and all sorts of nerd-ery. In this blog, I'm only going to use a single chart. If you're a gold investor, you know which chart I'm talking about: Gold Prx since Fall 2011 Chart courtesy of StockCharts.com This is the nightmare chart for gold investors. The price of gold has collapsed from all-time highs of slightly more than $1,900 an ounce in fall of 2011 to near $1,235 today. Just this year, gold investors, a lot of them investing through ETFs like the SPDR Gold Trust ( GLD | A-100 ), are down almost 27 percent, while investors in the SPDR S&P 500 Trust ( SPY | A-98 ) are up 27 percent. You don't need to be a math whiz to recognize that this has been a terrible, terrible year for anyone who made a big rotation out of equities in the last few years and into the shiny stuff. And while it's easy to kick people when they are down, here's the thing: It's not just gold investors who got hammered. It's an entire industry that's been built on the back of the gold rally. Consider GLD all by itself for a moment. GLD's peak NAV in August last year was $184.59. On that day, there were 424 million shares outstanding, for net assets of more than $78 billion, with an implied annual fee due of $313 million a year. Today assets stand at just $33 billion—well under half their peak, with an implied fee base of $131 million a year. That's nearly $200 million that's leaving the GLD management ecosystem. I'm not expecting anyone to feel sorry for the poor ETF issuer here (State Street and the World Gold Council). Rather, I'm pointing out that decline in gold has made for some rather dramatic shifts in the investment economy. Consider Eric Sprott. I first came to know of Sprott when his Physical Gold Trust launched in 2010—right in the froth of the run-up—and it was being called an "ETF" by various media sources (it's not; it's a closed-end fund). At the time, I ripped it apart for tax issues, poor marketing and various other shortcomings. That's nothing to the savaging Sprott received at the hands of one of the smartest bloggers on the Web, Kid Dynamite. Kid Dynamite has made a kind of sport out of watching how Sprott's closed-end funds magically become un-closed and issue new shares when they trade to large premiums. Story continues Nothing wrong there, other than the fact that the big recipient of those nonpremium shares tended to be other Sprott funds, who could then sell them for the premium price . Nice work if you can get it. But while the various shenanigans may have worked on the way up, they've brutalized the company—and Eric Sprott—on the way down. Take their flagship closed-end gold fund, PHYS. It launched on Feb. 26, 2010. GLD investors are up 9.09 percent since then. PHYS investors are up 6.36 percent. I don't know how you leave 1 percent a year on the table when your only job is to buy gold and stick it in a vault, but there you have it. The good news (if you're actually in one of Sprott's many funds) is that Sprott himself has gotten the ax, as noted by the extraordinarily unkind headline at Business Insider this morning: " One Of The Most Famous Gold Bug Fund Managers Has Gotten Obliterated ." The Wall St. Journal article is a bit more professional—" Gold Drop Is Blow to Prominent Hedge-Fund Manager Sprott "—but makes hay out of the fact that his namesake hedge fund is down 50 percent in 2013. That takes work. In the end, Sprott's getting the boot, and being replaced by new management. There's a whole lot of that going on in gold circles: people getting the boot and making way for turnaround specialists to come in and clean up business. The gold miner industry is awash in panic: The bellwether ETF in the space, the Market Vectors Gold Miners fund ( GDX | A-54 ), is down 66.4 percent since gold's peak in 2011, and down 54.49 percent just in 2013. That collapse is driven by very real work being done in the gold miner space to deal with the collapsing gold prices. Anglo American, for instance, brought in a new CEO to help make huge cuts, effect write-downs and position the company for a longer-term business. In some sense, that's all healthier than bubble economics. But that's small solace to any investor who's actually ridden Anglo American, PHYS, GDX or GLD to the ground these past few years. Of course, the question any rational investor should ask is, What's next? And that's where it becomes very difficult to read the news. In most rational sectors of the global economy, analysts are analysts. You read the reports from agricultural experts or retail-stock experts, and they generally call things as they see them. In the precious metals space, nearly every article you get off any kind of Google search will always be telling you why "Now is the time!" It's important to remember that gold—and the entire gold investment economy—is unique. Gold, by itself, is useless and valueless. It has value only because it's scarce, and then only because enough people believe its scarcity can make it a useful medium of representing value and making transactions. Gold is, essentially, an idea that people assign value to. Lots of folks believe? It goes up. Crisis of faith? It tanks. Which makes it surprisingly similar to that other highly volatile source of questionable stored-value: Bitcoin. Maybe that's where Sprott's next adventure will take him. I'll be camped firmly on the sidelines with a bowl of popcorn. At the time this article was written, the author held no positions in the securities mentioned. Contact Dave Nadig at [email protected] . Recommended Stories Bearish Inventory Report Doesn’t Change Bullish Outlook For NatGas Record Silver Investing, Record Silver Mine Output In 2014 NatGas Tests Top End Of Price Range After Demand Soars Natural Gas Will Eventually Fall Below $3 Potential Takeover Targets In The Mining Sector Permalink | © Copyright 2016 ETF.com. All rights reserved View comments || 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. Story continues 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 visit http://coinreverse.com . Contact Info: Name: Tom Juno Organization: Coin Reverse Inc. Address: 1370 Broadway, 5th Floor Phone: (315) 210-8349 SOURCE: Coin Reverse Inc. || Australia's ASX invests in blockchain to simplify markets: SYDNEY (Reuters) - Markets operator ASX Ltd on Friday said it has made a minority investment in U.S.-based Digital Asset Holdings to develop distributed ledger technology, or blockchain, to potentially simplify Australia’s post-trade equity market. Blockchain technology, pioneered by Bitcoin, maintains a continuously growing list of transaction data which cannot be tampered with or revised. ASX paid A$14.9 million ($10.43 million) for a 5.0 percent equity interest in Digital Asset along with funding an initial phase of development and acquiring a warrant that will give it the right to purchase further equity and appoint a director to the board. ASX will work with Digital Asset to design a new post-trade solution for the Australian equity market, it said in a statement on Friday. Over the past year, interest in blockchain technology has grown rapidly. It has already attracted significant investment from many major banks, which reckon it could save them money by making their operations faster, more efficient and more transparent. (Reporting by Swati Pandey) || REUTERS AMERICA NEWS PLAN FOR TUESDAY FEB 2: REUTERS AMERICA MIDDAY NEWS PLAN FOR TUESDAY FEB 2 LATEST AND PLANNED U.S. NEWS COVERAGE (ALL TIMES ET) Top stories as of 11:30 a.m. on Tuesday. To find stories, search by Slug or Headline Keyword in your CMS or Advanced Search in Media Express. For story queries, please contact [email protected] For photo queries use [email protected] TOP STORIES Cruz calls Iowa win a victory for 'conservative grass roots' DES MOINES - Relishing his victory in the first Republican nominating contest of the U.S. presidential election, Senator Ted Cruz called his defeat of Donald Trump in the Iowa caucuses a tribute to "conservative grass roots." (USA-ELECTION/ (WRAPUP 5, PIX, TV, GRAPHIC), moved at 10:33 a.m., by Ginger Gibson, 636 words). See also: USA-ELECTION/TRUMP (PIX, TV), moved at 7 a.m., by Steve Holland, 765 words and USA-ELECTION/RUBIO (PIX), moved at 7 a.m., by James Oliphant, 586 words) Virtual tie raises doubts: Can Hillary Clinton close the deal? DES MOINES, Iowa - Hillary Clinton's struggle in Iowa to fend off underdog Bernie Sanders, a self-described democratic socialist, reignited questions about her ability to close the deal with Democratic voters and turned up the pressure on her high-profile White House campaign. USA-ELECTION/DEMOCRATS (PIX, TV), moved at 7 a.m., by John Whitesides, 718 words. FBI joins Flint, Michigan water contamination probe WASHINGTON - The FBI is joining a U.S. criminal investigation into Flint, Michigan's water contamination crisis, a spokeswoman for the U.S. Attorney's Office in Detroit said on Tuesday. (MICHIGAN-WATER/ (UPDATE 2), moved, 599 words) Punxsutawney Phil predicts early spring PUNXSUTAWNEY, Pa. - Punxsutawney Phil, the Pennsylvania groundhog renowned for his ability to forecast the onset of spring, did not see his shadow after emerging from his burrow on Tuesday morning, predicting an early spring. (USA-GROUNDHOG/ (UPDATE 1, PIX, TV), moved at 7:54 a.m., 497 words) Africa, Asia vulnerable to spread of Zika virus -WHO GENEVA - The Zika virus linked to a microcephaly outbreak in Latin America could spread to Africa and Asia, with the world's highest birth rates, the World Health Organization warns as it launches a global response unit against the new emergency. (HEALTH-ZIKA/ (UPDATE 1, TV, PICTURE), moved, by Stephanie Nebehay, 305 words). See also: HEALTH-ZIKA/OLYMPICS, moved, 100 words and HEALTH-ZIKA/AUSTRALIA, moved, by Jane Wardell, 380 words Nine migrants, including two babies drowned off Turkish coast- coastguard ISTANBUL - Nine people, including two babies, are found drowned off the coast of western Turkey after a boat carrying people to Greece partly capsizes, the coast guard says. (EUROPE-MIGRANTS/TURKEY (UPDATE 1), moved, 181 words) PM resigns as Haiti scrambles for interim government before deadline PORT-AU-PRINCE - Haiti's prime minister has resigned, government sources said, in an attempt to clear the way for a temporary government to replace outgoing President Michel Martelly after a botched election and violent street protests last month. (HAITI-ELECTION/ (UPDATE 2, TV, PIX), moving shortly, 391 words) Bill Cosby fighting sex assault charge in Pennsylvania court NORRISTOWN, Pa. - Bill Cosby appeared at a suburban Philadelphia courthouse on Tuesday to fight sexual assault charges, which his lawyers say violate a decade-old agreement with a former district attorney not to prosecute the disgraced comedian. (PEOPLE-COSBY/ (UPDATE 3, PIX, TV), moved, 485 words) CAMPAIGN Bernie Sanders shows strong momentum on social media NEW YORK - It may be too close to call between Democratic presidential candidates Hillary Clinton and Bernie Sanders in the Iowa caucuses on Monday but the senator from Vermont was the clear winner on social media. (USA-ELECTION/SOCIALMEDIA (UPDATE 3, PIX), moved, 370 words) Cruz's Iowa victory could be big blow to Big Corn NEW YORK - Ted Cruz's victory on Monday in corn-rich Iowa could represent a major blow to the nation's controversial biofuels program, reflecting its waning influence over politicians even in the U.S. farming heartland. (USA-ELECTION/ETHANOL (UPDATE 1, PIX), moved, 670 words) WASHINGTON Pentagon's 2017 budget reshapes spending amid changing security environment WASHINGTON - Defense Secretary Ash Carter said on Tuesday the Pentagon would seek a $582.7 billion defense budget next year and reshape its spending priorities to reflect a new strategic environment marked by Russian assertiveness and the rise of Islamic State. (USA-DEFENSE/BUDGET (UPDATE 1, PIX, TV), moving shortly, 404 words) U.S. military leaders: women should have to register for draft WASHINGTON - U.S. armed forces leaders said on Tuesday that women should be required to register for the military draft, along with men, as the military moves toward integrating them fully into combat positions. (USA-MILITARY/WOMEN (UPDATE 1, PIX), moved, 390 words) IS pushed back in Iraq, Syria, but a threat in Libya -Kerry ROME - An international coalition is pushing back Islamic State militants in their Syrian and Iraqi strongholds but the group is threatening Libya and could seize the nation's oil wealth, U.S Secretary of State John Kerry says. (MIDEAST-CRISIS/COALITION (UPDATE 1, PICTURE, TV), moved, by Arshad Mohammed, 590 words). See also: MIDEAST-CRISIS/IRAQ-IS (INSIGHT, PICTURE), moved, by Samia Nakhoul, 1,515 words New European, U.S. data transfer pact imminent - sources BRUSSELS - European and U.S. negotiators are on the brink of clinching a new transatlantic data transfer pact which should prevent EU regulators from restricting data transfers by firms, two people familiar with the talks say. (EU-DATAPROTECTION/USA (EXCLUSIVE, UPDATE 2), moved, by Julia Fioretti, 525 words) China defends law enforcers as U.S. calls for clarity on booksellers BEIJING/WASHINGTON - China's Foreign Ministry says its law enforcement officials will never do anything illegal, especially not overseas, after the United States calls on China to clarify the status of five missing Hong Kong booksellers. (HONGKONG-BOOKSELLERS/USA (UPDATE 1, TV), moved at 5 a.m., 430 words) OTHER U.S. NEWS Leader of Oregon occupation to appear in court PORTLAND, Ore. - Ammon Bundy, who led a group of armed protesters in the occupation of a wildlife refuge in remote Oregon, will appear in federal court in Portland where his attorneys will argue that he should be released on bail ahead of his trial. (OREGON-MILITIA/COURT, expect by 3 p.m. 400 words) White Michigan ex-cop to be sentenced in beating of black motorist DETROIT - A white former suburban Detroit police officer is scheduled to be sentenced on Tuesday for the beating last year of a black motorist during a traffic stop caught on video. (MICHIGAN-POLICE/SENTENCE, moved at 9:28 a.m., 221 words, will be led) Controversial Detroit school manager to step down this month DETROIT - Detroit Public Schools' emergency manager Darnell Earley is stepping down later this month, Michigan Governor Rick Snyder said on Tuesday. (DETROIT-EDUCATION/ (UPDATE 1), moving shortly, about 400 words) Ferguson, Mo., to hear from public on proposed justice reforms FERGUSON - Residents of Ferguson, Missouri, which has a proposed agreement with the U.S. Justice Department to reform its police department after the 2014 shooting by a white officer of a black teenager, will voice their opinions on the deal at a meeting on Tuesday night. (MISSOURI-FERGUSON/, moved at 1019 am ET, 270 words) Georgia to execute its oldest death row inmate for 1979 murder ATLANTA - A 72-year-old man convicted of murdering a convenience store manager in a 1979 robbery in Atlanta's suburbs is set to be executed on Tuesday in Georgia. (USA-EXECUTION/GEORGIA (PIX), moved at 7 a.m., 281 words) Three teenagers arrested in fatal shooting at Seattle homeless camp -- Three teenagers were arrested on Monday in connection with a shooting at a Seattle homeless encampment where two people were killed and three wounded, police said. (SEATTLE-SHOOTING/, moved, 181 words) Teacher arrested in Southern California jail escape freed LOS ANGELES - A teacher arrested in connection with the escape of three inmates from a Southern California jail was freed from custody on Monday after prosecutors said they did not have enough evidence to charge her with a crime. (CALIFORNIA-ESCAPE/ (UPDATE 1), moved at 11:45 p.m., 383 words) SUPER BOWL Super models, super heroes add up to Super strange Media Day SAN JOSE - Media Day was transformed into Opening Night for Super Bowl 50 but the switch to prime time did nothing to change the zany tone as super models and super heroes mingled with giants of sports journalism. (NFL-SUPERBOWL/MEDIA (PIX), moved at 2:15 a.m., 397 words) Newton shows serious side at media night SAN JOSE - Cam Newton became known for his on field celebrations during the Carolina Panthers march to Super Bowl 50, but the quarterback says preparation is what brings him real joy. (NFL-SUPERBOWL/NEWTON (PIX), moved at 2:20 a.m., 368 words) Broncos' Manning says no decision yet on retirement SAN JOSE - Denver Broncos quarterback Peyton Manning said on Monday he has not yet decided whether he will retire following Super Bowl 50 and that he is strictly focused on winning his second NFL championship. (NFL-SUPERBOWL/MANNING (PIX), moved, 360 words) MIDDLE EAST Syrian army threatens to encircle Aleppo as talks falter BEIRUT/AMMAN/GENEVA - A Syrian military offensive backed by heavy Russian air strikes threatened to cut critical rebel supply lines into the northern city of Aleppo on Tuesday while the warring sides said peace talks had not started despite a U.N. statement they had. (MIDEAST-CRISIS/SYRIA (WRAPUP 3, TV, PICTURE), moved, by Tom Perry, Suleiman Al-Khalidi and John Irish, 1,059 words) Iraqis running out of food and medicine in besieged Falluja BAGHDAD - Tens of thousands of trapped Iraqi civilians are running out of food and medicine in the western city of Falluja, an Islamic State stronghold under siege by security forces. (MIDEAST-CRISIS/IRAQ-FALLUJA (UPDATE 2), expect by 1530 GMT/10,30 AM ET, by Stephen Kalin, 900 words) Jordan needs international help over refugee crisis-King Abdullah LONDON - King Abdullah says Jordan needs long-term aid from the international community to cope with a huge influx of Syrian refugees, warning that unless it received support the "dam is going to burst". (MIDEAST-CRISIS/JORDAN, moved, 320 words) WORLD Proposal unveiled to keep Britain in EU, sceptics unmoved LONDON/BRUSSELS - European Council President Donald Tusk presents proposals for keeping Britain in the European Union to a mixed response, underlining the challenges Prime Minister David Cameron faces to win over his people and other EU leaders. (BRITAIN-EU/ (UPDATE 4, PICTURE), expect by 1530 GMT/10.30 AM ET, by Elizabeth Piper and Jan Strupczewski, 900 words) Socialists ready to lead talks to form government in Spain MADRID - The leader of Spain's Socialists offers to lead talks between parties to form a government in a bid to break political deadlock and avoid a new national election in the next few months. (SPAIN-POLITICS/ (UPDATE 2, PICTURE, TV), expect by 1900 GMT/2 PM ET, by Julien Toyer and Blanca Rodriguez, 500 words) Cuba open for business, ministers tell French executives PARIS - Cuba seeks to drum up foreign investment as ministers on a state visit to Paris promise French business leaders that the Communist-run country is open for business. (CUBA-FRANCE/, moved, 280 words) China's nuclear envoy in North Korea amid sanctions push SEOUL - China's envoy for the North Korean nuclear issue arrives in the capital, Pyongyang, the North's KCNA news agency reports, amid a push by the United States and South Korea for tougher sanctions on the North after its fourth nuclear test. (NORTHKOREA-NUCLEAR/CHINA, moved, 370 words) EU to step up checks on Bitcoin, prepaid cards to fight terrorism BRUSSELS - The European Commission will propose by the end of June stricter rules on prepaid cards and virtual currencies in a bid to reduce anonymous payments and curb the financing of terrorism, documents released show. (EU-TERRORISM/FINANCING (PICTURE), moved, by Francesco Guarascio, 464 words) North Norea notifies IMO of planned satellite launch SEOUL - North Korea has notified the International Maritime Organization of plans to launch a satellite between Feb. 8 and Feb. 25, South Korea's Yonhap News Agency reported late on Tuesday. (NORTHKOREA-SATELLITE/ (UPDATE 1), moving shortly, 150 words) Australia PM weighs early poll to break political deadlock SYDNEY - Australian Prime Minister Malcolm Turnbull raises the possibility of dissolving both houses of Parliament and calling an early election to break a political deadlock that has stymied the government, say government officials aware of the matter. (AUSTRALIA-POLITICS/ELECTION, moved, 430 words) India's Supreme Court will review law criminalising gay sex NEW DELHI - India's top court says it will review a decision over whether to uphold a colonial-era law that criminalises gay sex in a victory for homosexual rights campaigners at a time when the nation is navigating a path between tradition and modernity. (INDIA-COURT/ (UPDATE 2, PICTURE, TV), moved, by Aditya Kalra and Andrew MacAskill, 410 words) HEALTH AND SCIENCE Long shifts for young surgeons don't threaten patient safety -- Controversial rules that limit the hours young surgeons can work while in training aren't needed to protect patient safety, a nationwide experiment finds. (HEALTH-SURGERY/RESIDENT-HOURS, moved, 753 words) ENTERTAINMENT AND LIFESTYLE Britain's James Corden to host 2016 Tony Awards NEW YORK - British actor James Corden will host the Tony Awards for theater for the first time at a ceremony in New York in June, organizers announced on Tuesday. (AWARDS-TONYS, moved, 186 words) Baggy but futuristic looks kick off NY men's fashion week NEW YORK - Following a successful debut in July, New York hosts its second menswear fashion week, with dozens of established fashion names as well as new designers showcasing their autumn/winter offerings - from slick suits to more casual wear. (FASHION-NEWYORK/MEN (TV), expect by noon, 238 words) CONSUMER TECH Spin-off or sale? Yahoo turnaround plan in focus as earnings awaited SAN FRANCISCO - Yahoo Inc's plans to turn around its struggling core business are set to dominate its earnings report after the bell on Tuesday, with investors keen to see if CEO Marissa Mayer will push ahead with a proposed spin-off or entertain calls for a complete sale. (YAHOO-RESULTS/PREVIEW, moved at 7 a.m., 355 words) Lower costs nudge Nintendo's profit higher TOKYO - Japan's Nintendo reported a 5.3 percent increase in third-quarter operating profit, in line with analysts forecasts, as lower costs helped offset a decline in overall sales. (NINTENDO-RESULTS/, moved at 2:30 a.m., 134 words) BUSINESS TRENDS Fearing lean times, U.S. companies tighten purse strings NEW YORK - The capital spending slump that originated in the hard-hit energy sector appears to be spreading more widely across other U.S. industries. (USA-RESULTS/CAPEX (ANALYSIS), moved, 600 words) A new global oil deal could draw lessons from 1998 LONDON - After a year of secret diplomacy and hushed-up private talks around the world, OPEC's mighty Saudi Arabia and rival Venezuela were persuaded to cut a deal by non-OPEC Mexico which overcame mutual acrimony and led to a much-needed rise in oil prices. (OPEC-RUSSIA/DEAL (ANALYSIS, PIX), moved, 1,345 words) See also: GLOBAL-OIL/ (UPDATE 6), moved, 365 words BUSINESS AND MARKETS ChemChina close to striking deal for Syngenta -sources China's state-owned ChemChina is nearing a deal to buy Swiss seeds and pesticides group Syngenta for $42.2 billion, two people familiar with the matter say, two people familiar with the matter say. (SYNGENTA AG-M&A/CHEMCHINA (UPDATE 3), moved, Arno Schuetze and Pamela Barbaglia, 350 words) Exxon's profit tumbles 58 percent, slashes capex by one-quarter Exxon Mobil Corp reports its smallest quarterly profit in more than a decade and says it will cut 2015 spending by one-quarter and suspend share repurchases as it copes with a prolonged downturn in crude prices. (EXXON MOBIL-RESULTS/ (UPDATE 2), moved, by Anna Driver, 340 words) GM January U.S. sales up slightly, Ford's down DETROIT - U.S. auto sales appeared to fare better than expected in January, early returns show, as the industry benefited from low gasoline prices, easy credit and moderate economic growth. (USA-AUTOS/ (UPDATE 2), moved, Bernie Woodall, 410 words) Dow Chemical CEO Liveris to step down by mid-2017 Dow Chemical Co Chief Executive Andrew Liveris said he will retire from the company by mid-2017, months after activist investor Daniel Loeb called upon him to step down from the company, which is merging with rival DuPont. (DOW-RESULTS/ (UPDATE 4), moving shortly, by Amrutha Gayathri and Swetha Gopinath, 400 words) Stocks snap winning streak as oil pressure returns LONDON - World stocks end three days of gains as lackluster global economic data lead to another slump in oil prices. (GLOBAL-MARKETS/ (WRAPUP 5), updated throughout the day, 600 words). See also: USA-STOCKS/ (UPDATE 3), updated throughout the day, 460 words) Oil slides more than 5 percent as hopes for output cut fade LONDON - Brent oil falls more than 5 percent, while U.S. crude slides below $30 per barrel, on worries about future demand and rising supply, while hopes for a deal between OPEC and Russia on output cuts fade. (GLOBAL-OIL/ (UPDATE 9), updated throughout the day, 460 words) Low metals prices sink zinc producer Horsehead Holding Corp WILMINGTON, Del. - U.S. zinc miner Horsehead Holding Corp files for bankruptcy protection, becoming the latest victim of a commodity price crash that has claimed scores of U.S. energy exploration companies, miners and metals producers. (HORSEHEAD HLDG-BANKRUPTCY/, moved, by Tom Hals, 320 words) Argentina says reaches provisional debt deal with Italian creditors BUENOS AIRES - Argentina has reached a preliminary deal with a group of Italian creditors who hold 30 percent of unpaid sovereign debt stemming from Argentina's record $100 billion default in 2002, Finance Minister Alfonso Prat-Gay says. (ARGENTINA-DEBT/ (UPDATE 1), moving shortly, 300 words) Brazil industrial output plunges 8 percent in 2015 BRASILIA - Industrial output in Brazil fell for a seventh straight month in December, capping the worst year for manufacturers in more than a decade as they struggle with inflation, high interest rates and political uncertainty. (BRAZIL ECONOMY/INDUSTRY (UPDATE 1), moved, by Silvio Cascione, 300 words) German jobless rate falls to lowest on record BERLIN - German unemployment fell more sharply than expected in January and the jobless rate dropped to a record low, suggesting private consumption will help offset a slowdown in emerging markets to keep growth in Europe's largest economy steady. (GERMANY-ECONOMY/UNEMPLOYMENT (UPDATE 1), moved, 290 words) Alphabet overtakes Apple in market value - for now Alphabet Inc might win the market cap battle against Apple Inc, but will it win the war? Maybe not. (APPLE-ALPHABET/RESEARCH (UPDATE 1), moved, by Sayantani Ghosh and Supantha Mukherjee, 510 words) Pfizer 2016 forecasts disappoint; shares fall U.S. drugmaker Pfizer Inc forecasts 2016 revenue and earnings below analysts' estimates, largely because of the strong dollar. (PFIZER-RESULTS/ (UPDATE 3), moved, 350 words) UPS fourth-quarter profit surges, gives robust outlook CHICAGO - United Parcel Service Inc reports a significantly higher quarterly net profit on a solid holiday season performance and gives a solid earnings outlook for 2016 despite warning of uncertain economic conditions. (UPS-RESULTS/ (UPDATE 1), moved, 330 words) ***************** For story queries, please contact us.general- [email protected] For photo queries use [email protected]) ***************** [Random Sample of Social Media Buzz (last 60 days)] Current #Bitcoin price: $434.36! Latest #BTC news at #LandBitcoin portal http://goo.gl/RNR1Cs  || Us prosecutors believe ex-secret service agent stole more #bitcoin from #silkroad http://j.mp/1VFjWU6 pic.twitter.com/Mmup6cK5WY || Current #Bitcoin Price 1 BTC = $425 USD: Would you like to see your Bitcoin wallet grow by… http://dlvr.it/KdYXPg pic.twitter.com/9LnT1G5kHq || Super MMM is a mutual platform. #MMMExtra #Bitcoin a link to the site http://WWW.MMMGlobal.BZ https://twitter.com/MMMGlobal/status/703279327245377536 … || VOOT/BTC ฿0.00001580 Vol.157944.62604500 | BTC38 ฿0.00001580 || Liquid Bitcoin || Just fought in the arena and earned some free bitcoins! #bitcoin #coinbrawl #freebitcoin http://www.coinbrawl.com?ref=30134coinbrawl.com/?ref=30134  via @coinbrawl . || AndreasMAntonopoulos : @aantonop: So there are three branches of government,… http://sh.st/EFSEc  #BitCoin pic.twitter.com/TVLrPzty7h || The nemesis to Bitcoin is not another cryptocurrency but perhaps cryptocash? http://cur.lv/vxrfw  #bitcoin#crypto#btc || LIVE: Profit = $80.39 (3.97 %). BUY B5.23 @ $400.00 (#VirCurex). SELL @ $401.39 (#HitBTC) #bitcoin #btc - http://www.projectcoin.org 
Trend: no change || Prices: 414.32, 413.97, 414.86, 417.13, 421.69, 411.62, 414.07, 416.44, 416.83, 417.01
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 2019-12-03] BTC Price: 7320.15, BTC RSI: 36.64 Gold Price: 1478.20, Gold RSI: 52.89 Oil Price: 56.10, Oil RSI: 47.92 [Random Sample of News (last 60 days)] Crypto market recovers slightly despite Bitcoin death cross: In the last day, the total market capitalization of all cryptocurrencies increased from around $190.2 billion up to its current value of $193.8 billion, which is equivalent to an average gain of almost 2% across all cryptocurrencies. This recent recovery interrupts almost a month of losses for most cryptocurrencies, many of which have lost more than 10% since late October. Much of this recovery can be attributed to Bitcoin (BTC), which now sits at $7,116 after gaining 2.6% since yesterday—adding more than $3 billion to its market cap. Although bitcoin is recovering well, several altcoins are experiencing even greater gains, among these, Monero (XMR), Cosmos (ATOM) and Maker (MKR) are performing best, gaining between 5-10% in the last day. Similarly, a handful of cryptocurrencies have failed to recover since yesterday, with Stellar (XLM), Tezos (XTZ) and DASH among the minority of cryptocurrencies still in the red. The recent price recovery looks to be the result of an unusual bullish breakout, despite the bitcoin market forming a bearish death cross barely more than a day ago. The bears are back in town though, with Euro Pacific Capital CEO Peter Schiff picturing a negative outlook, as per usual. His intepretation of the bitcoin charts is that it's forming what's known as a head and shoulders pattern. If this pattern were to complete, he argues that the price of bitcoin could go as low as $1,000. But other commentators say this recent price action is just business as usual. || Stellar (XLM) falls more than 6 percent following yesterday’s massive spike: Following a controversial token burn that saw the price of Stellar (XLM) explode by roughly 25 percent yesterday, the market has corrected today with a 6 percent fall. The Stellar Development Foundation yesterday revealed that it sent roughly half of all XLM tokens up in flames. The news caused a massive spike in the price of Stellar. But since then, XLM has cooled, according to data from Messari . Stellar’s price has seen a steady climb since late October, when the price of XLM hit $0.065 per token. Last week, the price rose again to around $0.07 per coin following news that Japanese cryptocurrency exchange Coincheck had added Stellar to its list of offerings. The cryptocurrency then pushed past $0.08—a surge of roughly 25 percent—on November 5 following news of the burn. In all, about 55 billion XLM tokens vanished from the Stellar network. Today’s drop, however, suggests that the effects of the burn on the token’s price may be short-lived. In general, it’s a down day for the crypto market, with Bitcoin (BTC) dropping by nearly 1.5 percent since yesterday, currently trading for just under $9,300 per coin. Meanwhile, Ethereum (ETH), EOS (EOS) and Litecoin (LTC) have all dropped in price as well, ranging between 0.3 and one percent. The outlier today is Bitcoin Cash (BCH), which today finally crossed over the $300 per coin mark after weeks of bouncing between the $280 and $290 range. || The Crypto Daily – Movers and Shakers -01/11/19: Bitcoin rose by just 0.01% on Thursday. Following a 2.78% slide from Wednesday, Bitcoin ended the day at $9,185.6. In spite of a bearish week, Bitcoin ended the month of October with a 10.2% gain. A bearish start to the day saw Bitcoin fall from a morning high $9,241.4 to a late morning intraday low $8,982.1. Falling short of the major resistance levels, Bitcoin fell through the first major support level at $8,997.23. Finding support from the broader market, Bitcoin bounced back to a mid-day intraday high $9,467.1. Bitcoin broke through the first major resistance level at $9,409.13 before sliding back to $9,012 levels. A late recovery to $9,100 levels left Bitcoin flat on the day. For the bulls, the extended bullish trend remained intact in spite of failing to break out from the 38.2% FIB of $9,734. Bitcoin has continued to hold above the 62% FIB of 7,245. The Rest of the Pack Across the rest of the top 10 cryptos, it was a mixed day for the majors on Thursday. Stellar’s Lumen and Litecoin joined Bitcoin in the green, with gains of 1.6% and 0.57% respectively. It was red for the rest of the pack, with Bitcoin Cash SV (-4.27%), Bitcoin Cash ABC (-3.18%), and Tron’s TRX (-2.40%) leading the way down. Binance Coin (-0.80%), Ethereum (-0.56%), EOS (-0.37%), and Ripple’s XRP (-0.11%) saw more modest losses. Following Thursday’s moves, Stellar’s Lumen retook the number 10 spot by market cap from Tron’s TRX. There was nothing mixed about the month, however. Bitcoin Cash SV (+47.42%), Tron’s TRX (+35.65%), Binance Coin (+25.52%), and Bitcoin Cash ABC (+25.11%) led the way in October. Ripple’s XRP and EOS also made strong gains, with the pair ending the month up by 14.61% and by 9.75% respectively. Stellar’s Lumen (+5.44%), Litecoin (+4.06%), and Ethereum (+0.64%) saw more modest gains. Through the month, the total crypto market cap rose from a 24 th October low $203.27 a 26 th October high $257.76bn before easing back. At the time of writing, the total market cap stood at $245.17bn. Story continues Bitcoin’s dominance held steady 67% levels at the month-end, while trading volumes jumped from sub-$50bn levels to $155bn levels before easing back to sub-$90bn levels. This Morning At the time of writing, Bitcoin was down by 0.41% to $9,148.2. A bearish start to the day saw Bitcoin fall from an early morning high $9,186.6 to a low $9,111.0. Bitcoin left the major support and resistance levels untested early on. Elsewhere, Stellar’s Lumen and Tron’s TRX bucked the trend early on, with gains of 8.17% and 1.04% respectively. It was red for the rest, however, with Bitcoin Cash SV (-1.64%) leading the way down. For the Bitcoin Day Ahead Bitcoin would need to move through the morning high to $9,220 levels to support a run at the first major resistance level at $9,441.10. Support from the broader market would be needed, however, for Bitcoin to break back through to $9,400 levels. Barring a broad-based crypto rally later in the day, Bitcoin will likely fall short of $9,500 levels for a 3 rd consecutive day. Failure to move through to $9,220 levels could see Bitcoin fall for a 3 rd day in the week. A fall back through to sub-$9,100 levels would bring the first major support level at $8.956.1 into play. Barring a crypto meltdown, however, Bitcoin should steer clear of sub-$8,900 support levels. This article was originally posted on FX Empire More From FXEMPIRE: E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis – Strengthens Over 27039, Weakens Under 26909 AUD/USD, NZD/USD, USD/CNY – Asian Session Daily Forecast Natural Gas Price Prediction – Prices Fall Forming an Outside Following Inventory Report Natural Gas Price Fundamental Daily Forecast – Bearish Reversal Top Could Trigger Break to $2.563-$2.522 Gold Price Prediction – Prices Rise as Yields Decline Ahead of Jobs Report U.S Nonfarm Payrolls and Chatter on Trade Puts the Dollar in the Spotlight || 3 Insights on Crypto Derivatives and Risk From Veteran OTC Traders: For all the talk about liquidity, bitcoin and other crypto-assets are thinly traded. Investors that buy and sell large volumes can’t do so directly, without slippage, or a change in the price between order and execution. They turn to over-the-counter (OTC) desks to manage those trades, whether buying crypto for the first time, or trading to generate alpha (above-market returns). As a result, these desks handle anywhere from 30 percent to 65 percent of total crypto market volume, depending on whose estimate you believe. To get a look inside this business, CoinDesk Research talked to two veteran OTC traders in a live webinar on Oct. 28. Related: Binance CEO: Russian Ruble to Be First Fiat-Crypto Trading Option Martin Garcia is managing director and co-head of trading at Genesis Trading. Yinfeng Shao is a former trader at Circle and now the CEO of a development-stage OTC firm, Reciprocity Trading. OTC desks take on tremendous, temporary risk. Traders like Martin and Yin are tasked with managing that risk by moving large amounts quickly and offsetting it on derivatives markets, including BitMEX, Huobi, OKEx, CME Bitcoin Futures and Bakkt. (For background, CoinDesk Research has produced a white paper on the state of crypto derivatives markets. You can download it for free here .) As a result, they are among the most sophisticated traders on crypto derivatives exchanges. Here are a few of the insights Martin and Yin shared during our hour-long conversation. 1. Investors’ mentality has shifted Related: Forex Broker FXCM Launches Basket of 5 Cryptos for Retail Investors The mentality of investors has changed since the earlier days of crypto, from venture-like to hedge-fund-like. “There’s a lot more velocity amongst the traders that are out there, whereas in the early days it was very much more a buy-and-hold” strategy, Martin said. “People these days understand that this market is super volatile and a lot of the different crypto funds and people that are out there, they are trying to add alpha for their shareholders.” Story continues 2. Derivatives markets move the spot market First of all, market moves get started on derivatives exchanges more often than on spot exchanges. “Because there are so many trading venues, it’s a constant question of, where is the action starting?” Yin said. “Often it’s starting on derivatives exchanges because that’s where a lot of people have connections and that’s where a lot of the most highly levered bets are taking place.” “Crypto already is a fairly random, volatile walk in terms of price action and the collection of these derivatives and the exchanges that list them effectively act as leverage on top of that,” he went on. “Whenever you start to make a move, there’s a good chance it will get exacerbated because of the amount of open bets that are out there.” In isolated examples, like the May 17 flash crash , a small amount on spot markets can cause a large move on the offshore derivatives markets, specifically BitMEX, allowing traders to manipulate the spot price in favor of their derivatives markets position. Theoretically, that’s possible on regulated crypto derivatives markets like CME’s, but it’s more expensive and difficult because the leverage is not as high. That’s not the only way derivatives markets can fail. “Where things tend to break down a bit and you get a lot more slippage is when you’ve simply exhausted everybody’s ability to really use the derivatives instruments to hedge, so whether that’s the amount of collateral that everyone’s posted is insufficient, or the market conditions are such that you really can’t get access to some of these platforms,” Yin said. 3. Two products dominate derivatives The most popular product is the perpetual swap, reputedly invented by BitMEX. Crypto futures are a close second. A handful of OTC desks can provide swaps and custom derivative products, including contracts for difference, but those two products have dominated market volume so far. Bitcoin options are emerging, but remain a small percentage of overall volume. As providers including Bakkt and CME have announced plans to bring options on bitcoin futures into the markets, Yin and Martin said these may prove attractive for large investors entering crypto, looking for a hedge against a big downside in a volatile market. “I think it means there are more sophisticated hedging strategies. It allows people to be more comfortable with spot exposure, if it can be more easily hedged out,” Martin said. “These markets move really quickly and a lot of the bigger places that want to start trading, there’s a significant amount of headline risk attached to this. How do they protect against the crazy downside move? Options may very well help eliminate some of those risks for them.” Listen to the full webinar for Yinfeng and Martin’s unfiltered opinions on risk, liquidity and derivatives in crypto markets. This is the first in a new series of webinars we’re running. If you like what you hear, get in touch ([email protected]) and let us know which topics and guests we should feature next. Ivan Ajvazovskij painting via Wikimedia Commons Related Stories Mastering Emotions and Managing Risk in Cryptocurrency Trading Liquidity Provider B2C2 Launches Gold Derivative Settled in Bitcoin || Bitcoin’s Dropping Lightning Capacity Might Not Be a Bad Thing: If you’re a fan of bitcoin and the nascent Lightning network, this graph looks disheartening at first glance. lightning, graph Graph of lightning capacity from bitcoinvisuals.com. The orange line is the BTC capacity; the blue line is its dollar value. The lightning network is supposed to be bitcoin’s superhero, taking the cryptocurrency to new heights by tackling its toughest and most obvious problem: if cryptocurrency is ever going to “go mainstream,” it needs to support a million times more transactions than it currently does – which is no easy feat. But by the looks of this graph, lightning appears to be losing momentum. The amount of funds locked up in the layer-two network looks to be decreasing, seeming to indicate that fewer people are using it as a payment method. A lightning “channel” is like a gateway to the rest of the network, allowing a user to send a payment to any other user. Related: Bitcoin Eyes $8.5K Hurdle After Biggest Single-Day Price Gain in Five Weeks While lightning is still considered “beta” software, and thus risky to use, bitcoiners have been so enthusiastic about it and using it anyway, for games and beyond, chanting the unofficial slogan “reckless.” As lightning’s capacity increased rapidly over its first year, devotees cheered it on social media. The catch is that, while this number is decreasing, lightning use might actually still be increasing because of increased privacy of lightning channels and other channel optimizations. “There’s no way of knowing the capacity in [the lightning network]. We can only know the public channels’ capacity, not private,” Roy Sheinfeld, CEO of Breez told CoinDesk. And at least one company says that – at least in their experience – lightning payments are picking up. Related: Bitcoin Bounces Back to $8K From Historically Strong Price Support “We are doing increasing dollar value volumes on the lightning network. What I am seeing is the price going up and thus people need less coins locked up in channels to maintain spending power,” FastBitcoins MD Danny Brewster told CoinDesk. Story continues A tale of two nodes So, while so far watching this number has been a spectator sport — football for tech geeks — it might not be for much longer. This number will grow harder to track over time. That’s because many lightning wallets do not advertise whether their channels exist to the rest of the network, by default. Under the hood, there are “advertised” channels which advertise their existence to the rest of the lightning network and “non-advertised” channels which don’t. Normal channels, used by everyday users who just want to buy pizza and draw dicks online with lightning, don’t need to be advertised. “Many wallets in the past few months have been released which default to non-advertised channels, these channels don’t show up on any public metrics, so relying on the public metrics alone only really shows half of the picture,” Lightning Labs CTO Laolu Osuntokun told CoinDesk. Generally, advertised channels only need to be used by routing nodes, so the sturdier nodes that get payments from one person to another and need to be online all the time. Zap creator Jack Mallers argued “it’s only responsible” that “anyone who isn’t a routing node [uses] private [“non-advertised”] channels.” Some go as far as to argue that the public capacity is a “ useless indicator ” because it doesn’t capture all – or maybe even most – of the money in the lightning network. Because more apps have been starting to follow these best practices, Sheinfeld guesses that “most” channels are private, noting that his wallet Breez has opened “thousands” of private channels just in the last couple of months alone. “Breez opened thousands of private channels in the last two months. Lightning Labs auto-pilot also opens private channels,” he said. This is one reason why many developers see lightning as providing more privacy than on-chain bitcoin transactions. While bitcoin has a reputation for giving users anonymity, transactions are actually public. Lightning hides a bit more of the transaction details. “If a regular bitcoin transaction is similar to uploading your bank statement to a public web site, a lightning network transaction is similar to showing each merchant you pay how much money you have in one specific compartment of your wallet. You’re still revealing some information, but much less,” as lightning startup SuredBits wrote . Garbage day Another reason the capacity is decreasing is because some entities are closing down lightning channels that were wasteful. “Based on my knowledge, the decrease in channels is simply node operators being rational by closing out channels that have been open for some time, but which don’t have notable forwarding activity,” Osuntokun said. For instance, there’s one famous and mysterious anonymous lightning user by the name of LNBIG who has opened many lightning channels. They initially debuted by pouring 300 bitcoin into the lightning network, giving new meaning to lightning’s “reckless” catchphrase. “At the beginning of my activity, I opened many channels in the hope that they will be used (and due to the imperfection of the autopilot),” the person behind LNBIG told CoinDesk. But, the secretive developer said, those channels weren’t really used much at all. They were just open and sitting there. “But time has shown that many channels have not been used once for two to four months, for example, and the funds in them are nonetheless blocked,” LNBIG continued. The funds are “blocked,” as LNBIG puts it, because of the way lightning works. A lightning “channel” is like a gateway to the rest of the network, allowing a user to send a payment to any other user. But when someone opens a “channel” with someone else and doesn’t use it, then other people can’t use that gateway. So, it makes sense to free up that capacity and wait to see if a new channel opens want to use the capacity, which is exactly what LNBIG decided to do. LNBIG posted a Twitter poll before following through with closing these channels, arguing that the only downside would be the “psychological effect” that lightning’s capacity would fall down to 825 bitcoin. As the decrease in lightning’s capacity shows, Twitter encouraged LNBIG to follow through. Zap founder Jack Mallers speaks at Bitcoin 2019 in San Francisco, image via Jack Mallers Related Stories Bitcoin Is 2019’s Best-Performing Asset, Even After Recent Price Downturn Bitcoin May Be Headed for a Stronger Price Bounce || What is it with the price of Bitcoin and avocados?: Bitcoin has been having another avocado moment. Bizarrely, the popular cryptocurrency’s summer spike and recent downward trend have closely resembled the fortunes of Mexican avocados. A spooky coincidence? Not everyone is so sure. And the price of the fruit has plummeted this month. Eagle-eyed Bloomberg analyst Tracy Alloway sounded the Avocado Alarm early today onTwitter. She joked that it was the avocados that forewarned her ofBitcoin’s dropto its lowest level since last June. However, almost as if to escape her absurd but hugely popular avocado analogy,Bitcoinhas sincebounced backan astonishing 12 points. And, as Alloway’s chart shows, while the price of bitcoin has mirrored avocados between February and September, the fruit has experienced a much sharper decline following its boom in the last quarter of 2019. Avocado and crypto watchers have worked hard—if not entirely seriously—to suggestpossible reasonsfor the uncanny price similarities. One of them is that millennials—lovers of both avocado toast and Bitcoin—pushed up the price during the summer, and they’ve since got bored of both. But that’s almost as strained as the avocado metaphor inone of the dumbest crypto Twitter spats ever—between Tron’s Justin Sun and Ethereum’s Vitalik Buterin. Looking deeper into the fortunes of Mexico’s avocado trade, analysts put the blame for the slump at the door of U.S. President Trump, who in Juneannouncednew import tariffs against Mexico to counter immigration. The U.S. purchases around75%of Mexico’s avocado crop. A 5% increase in import tariffs, rising 5% each month to reach a maximum of 25% on October 1st, means a big hit for the $2.4 billion-a-year market. Trump also took aim at Bitcoin only a month later. While the market bounced back, it proved only a temporary rally. To compound matters for the avocado trade, Mexico’s “green gold” has attracted theattentionof violent cartels, who were quick to see the potential in the cash crop. As a result, the U.S., has recently issued awarningthat it could also withdraw dozens of avocado orchard inspectors, who are stationed in Mexico, sending further shivers through the export industry. Will the fact that the cartels are now threatening Mexico’s avocado market finally put an end to the odd correlation with Bitcoin? Nobody knows. But if the bitcoin-avocado pairdoesstay relatively constant, millennials may breathe a sigh of relief. || Researcher Vlad Zamfir: Ethereum’s legal question is an inevitable crisis: OSAKA, Japan—Ethereum Foundation researcher Vlad Zamfir gave a clear warning at Devcon 5 yesterday: developers need to start thinking about Ethereum’s legal status, rather than simply hoping it will grow so big that governments will have to accept it. Speaking at the outside amphitheatre, with Osaka Bay behind him, the falling sun reflected in his audience’s eyes, he could have been mistaken for a Grecian orator discoursing on law and politics. But he was here to tackle a tricky crypto question: Is Ethereum—a disruptive blockchain platform leading a decentralized revolution—even legal? “From smart contracts to unstoppable code, Ethereum is a legal project as much as a tech project. This is possibly controversial but not talked about all that much,” he began. He briefly dived into the historical context, in order to explain where we currently stand. “Ethereum was born into a counter-cultural movement, a cypherpunk movement,” Zamfir said. “In Ethereum, we went much further than Bitcoin and said we didn’t just want to do this for money, but for everything.” How smart are smart contracts? He pointed to one characteristic of the Ethereum blockchain : the notion of smart contracts , code that automatically results in the movement of money, when the conditions of the contract is fulfilled. To date, we have treated them as legally binding. “Smart contracts are basically an esoteric legal form, marketed and understood as an alternative to legal contracts.” The problem, he said, is that now we’ve gone down this road, governments may or may not approve. He asked, “How does our anti-legal revolution react with the established legal order?” Dead on the wrong hill Zamfir said that some companies choose to work fully within the regulations, while others push the limit when it comes to complying with the law. And some just up and leave, preferring to work with more favourable conditions in other countries. Alternatively, some hide behind the mask of anonymity, so people can’t stop what they’re doing. Story continues All this impacts upon blockchain development. He added, “A developer who thinks they’re not responsible for what they put on the blockchain and a developer who does, might behave quite differently.” Ethereum's colorful and picturesque version of Ancient Greece. Photo Credit: Decrypt So far, he claimed, the general consensus has been that blockchains have generally been a form of “private law.” This is where the blockchain-based contract between two people is seen as a private contract between two people, and that it and only it, is important. Very much the cypherpunk view. But this approach brings risks. If blockchain creators continue to act irrespective of the law and governments, they will provoke a reaction. “We’re not going to be able to continue on our current course, as though nothing needs to change until we have mass adoption, and have this successful global revolution,” he said. “Unless there are extraordinary circumstances, that’s not going to happen. Something’s going to have to give. Whether we’re co-opted, regulated or competed out of existence.” The Empire Strikes Back Zamfir mentioned three ways that governments could co-opt blockchain technology. First, they could adopt blockchain technology and compromise it until it becomes legally compliant. Second, they could ban it—driving it underground. Third, they could make electronic legal systems that can compete with blockchain-based ones. For example, they could create a centralized system that runs electronic contracts, making payments happen automatically. It could be faster and cheaper. And while it might not appeal to decentralization advocates, it might be a more tempting offer to businesses. “What will the law do with our legal revolution? It certainly won’t do nothing. We’re not going away, and we’re pretty disruptive. It’s inevitably going to come to a head,” he said, adding, “What we’re doing is too radical and revolutionary for the established legal order to ignore.” Now that he’s opened up this can of worms, it looks like the Ethereum community can’t ignore it either. || Latest Litecoin price and analysis (LTC to USD): Litecoin (LTC) experienced exponential growth earlier this year. Prior to mid-June, the altcoin was the best performing digital asset of 2019, growing more than 170% in fewer than 90 days and peaking at around $145. However, a serious summer downtrend saw LTC tumble to around $49. At the time of writing, Litecoin is showing signs of recovery and is now trading at around $58 – 16% higher than last week. Price has remained relatively flat over the last 24 hours. Last week , Litecoin was in a clear downtrend, and it seemed unlikely that it would recover any time soon. However, that downtrend seems to have reversed since the pump on Friday following Bitcoin’s 40% rise. Will Litecoin consolidate above $60? Let’s take a look at the LTC chart. As you can see from the chart above, Litecoin suffered a huge fall around mid-September due to a significant BTC dump which impacted the entire market. LTC attempted to consolidate and recover over the following weeks before another downtrend in mid-October saw price fall from $60 to below $52 in under a week. However, the entire crypto market experienced a huge pump last Friday – loosely attributed to Chinese President Xi Jinping’s positive comments about blockchain – and since then Litecoin’s price has been consolidating near its 20-day EMA. Looking at the EMAs, we can see the 50-day EMA has crossed the 200-day EMA to the downside and the 20-day EMA is still on a downtrend. However, price is now attempting to break these levels to reverse the trend. Last month , I mentioned I could not foresee the price of LTC growing without a reversal of the EMAs. In addition, volume really needs to pump to the upside, which finally seems to be happening. At the moment, volume is sitting close to $3.1 billion, marking a whopping 24% gain since last week. Finally, looking at the volume profile, Litecoin seems to have found support around the $57 region and will likely face some resistance around $72-$75, and then again near $90. Story continues I’ve shifted my position over the long term and I now believe it may take longer for a pump towards $100 to take place. It’s much more likely that the next significant pump will only happen after the BTC halving, which is taking place sometime in May 2020. Litecoin updates Watch the new Magical Crypto Friends Episode 24: Romantic Relationships! In this Litecoin episode: LTC Halving, Development, FUD and is it a SoV? + Roger Ver's crazy claims! Note: this episode was recorded pre-ERC20 drama. (next episode will have less LTC) https://t.co/NlfNk9WRrg — Magical Crypto Friends (@magicalcrypto) August 28, 2019 Recently, the “Magical Crypto Friends” show – which is available on YouTube and features Litecoin founder Charlie Lee – focused an entire program on Litecoin. From Litecoin acting as a store of value to new development updates, the show covered the most important discussions in the community. Lee confirmed that the project is working on privacy improvements as well. The Litecoin development team is working with the Mimblewimble protocol, specifically the developers behind Grim, with a view to potentially adding the privacy protocol as an extension block. According to Lee, it would work as follows: “All the miners are mining both the extension block and the main chain at the same time, after the soft-fork that is. So the Mimblewimble chain would go alongside the main chain and then you would have peg-in, peg-out, so you could move Litecoin into the other chain and back.” The goal would be to give Litecoin users improved privacy features when transacting. About Litecoin Litecoin was released in October 2011 by Charlie Lee, a former Google employee. It was a fork of Bitcoin with the main difference being a smaller block generation time, increased maximum number of coins, and a different script-based algorithm. Litecoin is one of the leading cryptocurrencies and is one of the top 10 cryptocurrencies by market capitalisation. More Litecoin news and information If you want to find out more information about Litecoin or cryptocurrencies in general, then use the search box at the top of this page. Here’s an article to get you started: Litecoin becomes ‘official cryptocurrency’ of the Miami Dolphins By Oliver Knight – October 31, 2019 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 Litecoin price and analysis (LTC to USD) appeared first on Coin Rivet . || Divorce European Style: Despite the Phase 1 trade deal, US-China tensions still smoke in the wake of the U.S. House of Representatives passing legislation in support of the pro-democracy protesters in Hong Kong. A move China’s foreign ministry said they would counter with “strong” measures. While this news doesn’t precisely provide excellent mood music, it’s not being viewed by markets as a US-China deal stopper even it moves through the U.S. senate uncontested. The Poundis back on the high horse this morning as European leaders ready to gather in Brussels to cement a deal that will set in motion the U.K.’s amicable divorce with the European Union; this could be the ‘white smoke’ moment where we see the outline of an agreement and can judge the likelihood of domestic ratification. If an outline of a Brexit deal is announced, the next question is, can it pass in an ‘indicative’ (non-binding) vote as early as Saturday? The position of the DUP will be crucial. Like broader markets, oil did take some succour from the latest positive steam of Brexit news, but prices buckled under the weight of a potentially overstocked U.S. crude markets after the American Petroleum Institute reported a 10.5 million-barrel build inoil stocks, which if confirmed by Thursday’s government data it would be most enormous U.S. inventory swell since February 2017 For oil bulls, the report was probably seen as one of those in your face eye-watering data prints putting them immediately back on the defensive as an enormous U.S. inventory build hits at precisely the wrong moment when the markets are overly focused on demand devastation due to the latest run of weaker global economic data. Brexit headline risk aside. Amid the weakening global growth outlook and the copious crude supplies in the world’s largest economy, it suggests traders may assume a defensive posture in today’s Asia session likely not wanting to overcommit on the downside. Instead, they may wait for more clarity from the more definitive EIA report to confirm the inventory supply deluge while considering a possible sentiment bounce if a Brexit relief rally unfolds Still, OPEC Sec-Gen Barkindo remarks at an industry conference in India that the producer group intended to maintain market balance beyond 2020 have been regarded as supportive. Gold markets rosefollowing disappointing September U.S. retail sales data as the data print increased the odds of a Fed rate cut at the end of October. But with that probability already well priced into the fundamental equation, there was little follow-through higher during the rest of the U.S. session. Treasuries ended higher Wednesday led by front-end and belly of the curve following weaker-than-expected U.S. September retail sales data, but in a similar fashion to gold markets gains were pared during U.S. trading as a Brexit deal Thursday appeared possible. Gold traders may continue to critique their positions against U.S. bond yields while looking for policy clues from Fed speak —most importantly, Vice Chair Clarida, who will have the last word before the Fed’s blackout period begins when he speaks on Friday about the economic and monetary policy outlook. Mind you, the deterioration in forward-looking sentiment data and confirmed by the retailer’s sales devastation does auger well or another 25-basis point easing at the end of this month. According to my sources at the worlds largest Gold trading banks, markets have been relatively quiet, with considerably less buying than the current average over the previous 2-3 week. And likewise, in the retail space demand wanes as lower gold appetites might be a result of improving Brexit news flows and phase one of the US-China trade talks. Today may follow a similar pattern to yesterday – long periods of inactivity punctuated by a sudden burst of trading catching markets off guard. Forex traders may continue to take clues from the fixed income markets and given that Bunds and Gilts were the focus of attention it suggests traders will remain heavily vested in E.U. and U.K. headlines around Brexit. The Eurocaught a tailwind from both Brexit news flows and reports that Germany’s CDU party may be prepared to consider fiscal stimulus if the economy worsens, this should move the E.U. bond curve steeper and offers support to the Euro. But it also could spur capital inflows into E.U. stock markets as this would be viewed supportive for equity markets also The “Risk on” environment around Brexit and Phase one trade talks continues to buttressUSDJPYas trader remains favourably positioning for a possible Brexit bounce in global equity markets. With the RBA move into unchartered territory still clamouring for column inches, the reality of the global “risk-on” environment finally provided a fillip to the Aussie dollar overnight as trader position risk assets accordingly ahead of a possible equity market sentiment bounce around an amicable Brexit divorce. The Yuan remains a bit of an enigma and while much ink has been spilt about how and why scepticism might still be warranted where now a common theme seems to be that the global economic outlook won’t improve even if there’s a partial deal. But what might be essential for currency markets and particularly ASEAN currencies is it’s clear we have entered a phase of de-escalation with previously agreed components ambitiously re-tailored to serve both parties current interests and most pressing needs providing a suitable background to build on stage 2 and 3 of the agreement although arguably these steps could be rolled out at a snails pace. Currently, regional higher yields and quasi high yielders like the Ringgit are now competing for global bond flows in a market where at times investors are rushing to sell fixed-income assets at all cost and duration is not the most pressing need. Not the best environment for riskier high yielding debt. Also, oil prices remain very depressed, although not a huge factor these days for the multi-faceted Malaysian economy but it doesn’t help Ringgits optics either. The local unit was then sideswiped, as was most of Asia, by yesterday’s messy local currency market open after the U.S. House passed the Hong Kong pro-democracy bill which triggered a sell-off in the Yuan. Unfortunately, this negative mood music continues playing in the background All of which suggests this current weakness in ASEAN markets has little if anything to do with the global growth outlook but instead its a function of ASEAN currency traders who continue to wear headline emotions on their sleeve. This article was written by Stephen Innes, Asia Pacific Market Strategist atAxiTrader Thisarticlewas originally posted on FX Empire • GBP/USD Daily Forecast – Sterling Rallies to 5-Month High on Brexit Optimism • NZD/USD Forex Technical Analysis – Weak U.S. Data Could Drive Kiwi Pair into .6324 to .6328 • Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 17/10/19 • AUD/USD and NZD/USD Fundamental Daily Forecast – Aussie Spikes Higher as Unemployment Rate Improves Slightly • E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – Strengthens Over 7971.75, Weakens Under 7859.75 • Weekly SPX & Gold Price Cycle Report || The Crypto Daily – Movers and Shakers -16/10/19: Bitcoin slid by 2.14% on Tuesday. Reversing a 0.78% gain from Monday, Bitcoin ended the day at $8,191.1. A bullish start to the day saw Bitcoin rally to an early morning intraday high $8,439.7 before hitting reverse. Falling short of the first major resistance level at $8,456.37, Bitcoin fell to a late afternoon intraday low $8,100. The sell-off saw Bitcoin fall through the first major support level at $8,255.47 and second major support level at $8,140.93. Finding support late in the day, Bitcoin broke back through the second major support level to $8,200 levels. Negative sentiment across the broader market ultimately weighed, however, with Bitcoin easing back to sub-$8,200 levels. It was Bitcoin’s lowest closeout since 6thOctober’s $7,883. For the bulls, the extended bullish trend remained intact in spite of hovering at sub-$9,000 levels. While falling back through the 38.2% FIB, Bitcoin continued to hold above the 62% FIB of 7,245. Across the rest of the top 10 cryptos, it was a mixed bag across the crypto board on Tuesday. Binance Coin and Bitcoin Cash SV bucked the trend on the day, rising by 0.49% and by 2.30% respectively. It was deep red for the rest of the majors, however. EOS led the way down, with a 6.34% loss Litecoin, Bitcoin Cash ABC, and Ethereum also saw heavy losses on the day. Litecoin slid by 4.08%, with Ethereum and Bitcoin Cash ABC falling by 3.36% and 3.21% respectively. Ripple’s XRP (-3.14%) and Stellar’s Lumen (-2.04%) saw more modest losses on the day. Through the early part of the week, the total crypto market cap rose from a Monday low $223.92bn to a high $228.17bn before hitting reverse. The Tuesday sell-off saw the total market cap fall to a current week low $221.83bn before support kicked in. At the time of writing, the total market cap stood at $222.65bn. Bitcoin’s dominance continued to sit at sub-67% levels in spite of Tuesday’s sell-off. At the time of writing, Bitcoin was down by 0.11% to $8,181.7. A bearish start to the day saw Bitcoin fall from an early morning high $8,191.1 to a low $8,156.8. Bitcoin left the major support and resistance levels untested early on. Elsewhere, Bitcoin Cash SV and Bitcoin Cash ABC found early support, rallying by 2.87% and 1.72% respectively. EOS (+0.33%), Litecoin (+0.62%), and Ripple’s XRP (+0.65%) were also in the green at the time of writing. Ethereum and Binance Coin struggled at the start of the day, however, with losses of 0.43% and 0.42% respectively. For the day ahead, Bitcoin would need to move through to $8,240 levels to support a run at the first major resistance level at $8,387.2. Support from the broader market would be needed, however, for Bitcoin to break out from $8,200 levels. Barring a broad-based crypto rebound, the first major resistance level would likely pin Bitcoin back from $8,400 levels. Failure to move through to $8,240 levels could see Bitcoin spend another day in the red. A fall back through Tuesday’s low $8,100 would bring the first major support level at $8,047.5 into play. Barring a crypto meltdown, Bitcoin should steer clear of sub-$8,000 support levels on the day. Thisarticlewas originally posted on FX Empire • Gold Price Prediction – Prices Slide as Positive Earnings Sentiment Buoys the Dollar and Weighs on Gold • Natural Gas Price Prediction – Prices Rise on Cool Weather Forecast • GBP/USD Price Forecast – British Pound Continues To Bounce Around • European Equities: Brexit, Earnings and Economic Data in Focus • U.S. Dollar Index Futures (DX) Technical Analysis – Brexit Optimism, Strong Sterling Weighing on Dollar Index • Natural Gas Price Forecast – Natural Gas Markets Rally Again [Random Sample of Social Media Buzz (last 60 days)] [Dev Bitcoin Borsası OKex Bu Altcoini Listelemeye Başlıyor] Dünyanın en büyük 3. kripto para borsas... https://t.co/Tv8V4JF8m2 https://t.co/hsDHuUZsLm || Bitcoin current price: 8675.92356066,change percent in 1h:-0.08 || BTC || hard fork – the next web: 5 arrested after drilling through warehouse wall to steal 85 bitcoin machines https://t.co/DoORtq7pqN || BitCoin Telegram Looks to Cut Deal With TON Blockchain Investors After SEC Order https://t.co/rq4dYmGo3v || Binance Research назвал лучшую стратегию работы с Bitcoin https://t.co/GdYM9WRcpz https://t.co/vkqkG6bs1p || https://t.co/pSNNRU0ST5 #bitcoin #icotracker #btc #sqpay #adelaide #ETH #perth #fund #neworleans #bitshares #icoalert #cryptocurrency #Ethereum #losangels #saintpaul #seattle #FinTech #PrivateEquity #bitcoinrussia #orlando #perth #investment #italy #crowdfunding #godblessamerica || Bitcoin Black v Bitcoin. Get FREE coins ($36 value)! https://t.co/B4hEzCFToZ || Honest question to crypto coders and gurus If one of the main problems that crypto solves is inflation Anyone knows of a crypto asset that deflates over time but at the same time fast like xrp Maybe gets burned everytime its sold and increases when mined 🤔 #btc #xrp #eth https://t.co/Q8fzKC29r2 || @newton_crypto 😚 Make Canadians understand the value of collecting bitcoins, and stacking sats. Educate people on bitcoin, not shitcoins. Help millennials and gen-z save for their future. Build a product to incentive low time preference, cutting on futile spendings, and crypto gambling. 😎
Trend: no change || Prices: 7252.03, 7448.31, 7547.00, 7556.24, 7564.35, 7400.90, 7278.12, 7217.43, 7243.13, 7269.68
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)] SPY Stock Path to New Highs Is Still a Realistic Outcome: • TheSPDR S&P 500 ETF Trust’s(SPY) bad week is not necessarily an omen for bear market. • Yesterday’s late day nose dive had special circumstances behind it. • The market largest components are healthier than ever. Source: Pavel Ignatov / Shutterstock.com Wall Street investors are showing a tremendous amount of indecision. The dilemma is between current strong macroeconomic conditions and potentially explosive geopolitical risks. There are a few other wrinkles, the largest one being U.S. Fedeal Reserve tightening cycle. After years of dovish monetary policy, they are now embarking on the opposite. Yesterday theSPDR S&P 500 ETF Trust(NYSEARCA:SPY) stock fell 1.5%, on the back of a .5% drop the day before. But the sharpest dive yesterdaycame from a specificJPMorgan(NYSE:JPM) trade. Luckily this all came about after an 11% straight shot rally from two weeks ago. This week’s retracement is minor and not yet constitute a reason to add bullish positions in size. But my thesis is that SPY could use this swoon to build better momentum and crack into new highs soon. Yes, you heard that right, I am still optimistic about that possibility. • 7 Stocks Hit Hardest by Supply Chain Issues If I am right, the spy stock will be leading a new charge on Wall Street. Year-to-date, it and theDOWare doing twice better than theNASDAQand theRussell 2000. Stocks must stall at resistance zones before they can punch through the ceiling. After a strong rally, investors need a rest to gather better momentum. Technically, there was room for a 5% to 6% drop without causing any lasting damage. This can happen by next Tuesday, so investors should spend time shopping for bargains. InvestorPlace - Stock Market News, Stock Advice & Trading Tips [] The bullish SPY fundamentals are easy to argue because its constituents are healthy. All of the mega-cap stocks are breaking records perpetually. This is not the dot com bubble where we were chasing hope. The current actual results are strong even for stocks that fall on earnings. The disappointments are from overly exuberant estimates. The economic conditions are also strong, and that’s why the Fed is trying to cool things down. Spending is at record levels, and unemployment is under 4%. This is hardly a situation where the economy is on the brink. Therefore, left alone and without negative extrinsic factors, stocks will want to rise. If the SPY can find footing near $436 per share this month, it can rebound with force. Before the rally could bring new highs, it will face resistance starting with this week’s high. Once the bulls overcome that, they can then tackle the last obstacles at the all-time high. Source: Charts by TradingView So far the quarter scoreboard is not a good omen. The SPY stock is down 3%, which according to score keepers isthe worst since the pandemic. Luckily nothing is “normal” therefore I won’t put much weight into that headline. Broad stroke stats are not that important to stock price trajectories. As long as the facts are strong I will assume the bulls are in charge. The game between “da bulls and da bears” is about even, and all headlines are aiding the bears. An ease on any of those fronts would bring an advantage to the bulls. Of course we cannot be certain of how the geopolitical hotbed will end. So far none of the parties involved are showing any willingness to bend. This leaves the outcome of Russia’s invasion up in the air. My assumption is that this too shall pass because of financial reasons. Wars are expensive, and the world is just coming out of a costly pandemic. Funds are too scarce to open up new battlefronts, especially physical ones. Thus, SPY stock should do better the next two quarters this year. Hopefully, they can do that before the “Sell in May” adage kicks in. At the speed of data dissemination, there will be a few early bird sellers on that. Therefore, being cautious for the next few weeks would be prudent. An essential part of my current bullishness is its tactical nature. I don’t condone starting full size positions as a long-term investment up here. I am seeking either shorter term swings, or decade-long commitments. Anything in between risks suffering through long stints of disappointment. On the date of publication, Nicolas Chahinedid 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. • 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 postSPY Stock Path to New Highs Is Still a Realistic Outcomeappeared first onInvestorPlace. || Brazil Tip-Toes Towards Crypto Regulation, Approves Digital Currency Bill: In Brief: • Brazilian Senate approved a bill Tuesday legitimizing crypto transactions. • The bill was introduced by Sen. Flávio Arns and still needs approval from the full Senate and the lower house. • The legislation attempts to create ground rules for the day-to-day usage of Bitcoin in financial transactions. The economic affairs committee of Brazil has approved a cryptobillon Tuesday, which marks the country’s first step towards regulation. The bill aims to drive cryptocurrency usage in Brazil. It outlines basic rules for crypto funds and their day-to-day usage as a payment option, passing a critical legislative stage. If approved, the move would make Brazil the largest Latin American country to formally regulate cryptocurrencies,Bloombergreports. Smaller countries in the region, such asEl SalvadorandCuba, have already gone a bit further in recognizingBitcoinas legal tender. However, before signing it into law by the Brazilian President Jair Bolsonaro, the legislation still needs adoption by the full Senate and lower house. The bill is now out to vote for approval by lawmakers. Senator Iraja Abreu, who wrote the draft, said that the central bank is the body that is responsible for regulating business with cryptocurrencies. He told Bloomberg that Brazil’s de facto bank Banco Central has actively constructed the bill. Crypto adoption is picking up a fast-paced momentum in Brazil. The nation is keen on regulating cryptos to catch up with the burgeoning market. The legislation has laid out specific rules to virtual asset service providers in the country, such as preventing money laundering and concealment of assets, terrorism financing, among others. The Senate has imposed imprisonment and fines for violating the rules. The bill also provisions tax incentives for the bitcoin mining industry. According to Abreu, the bill will likely generate a favorable environment for wider crypto adoption in the nation. “Once this regulation is approved, the trend is that it will be increasingly adopted in the supermarket, in commerce, in a car dealership.” Also, in a recent move, Brazil-based crypto asset managers launched a decentralized exchange-traded fund (ETF) on the B3 stock exchange. The crypto ETF move that raised $10.5 million and the latest bill for the regulation contribute as a positive catalyst for Bitcoin adoption in Brazil. This year, Brazil is close to starting its pilot program for a digital Real – central bank digital currency (CBDC). In September’21, the central banktold the Brazilian Senatethat it plans to launch the digital version of money in 2024. Last year, the central bank’s President Roberto Campos Neto said thatcrypto purchasesare affecting Brazil’s import figures. “[Crypto] is already starting to affect even the national accounts, which means it has become a relevant investment instrument.” Besides, the country’s seaside city of Rio de Janeiro said last month that it would buyBitcoin for city reservesand provide a 10% discount on taxes when paid in Bitcoin, after carefully studying the possible legal framework. Additionally, the mayor of Rio, Eduardo Paes, promised to launch its coin dubbed “Crypto Rio.” Thisarticlewas originally posted on FX Empire • Terra’s Luna Foundation Guard Raises $1 Billion in Private Token Sale • EUR/USD Moves Higher Ahead Of Euro Area Inflation Data • Institutional Inflows Trickle Back into Bitcoin But Out of Ethereum • GBP/USD Tests Resistance At 1.3600 • Is the Countertrend Rally for Ethereum Still on Track? • Trade Through 115.243 Shifts USD/JPY Momentum to Up || Dollar slips as Powell boost fades: By Chuck Mikolajczak NEW YORK (Reuters) - The dollar edged lower on Tuesday as a boost from comments by U.S. Federal Reserve Chair Jerome Powell that boosted the greenback on the previous day faded and a rise in equities markets help boost risk-on sentiment. The greenback saw its biggest one-day percentage gain since March 10 on Monday, as Powell opened the door for raising interest rates by more than 25 basis points at upcoming policy meetings in order to combat inflation. On Tuesday, St. Louis Fed President James Bullard repeated his call for the Fed to move aggressively on Bloomberg TV. San Francisco Fed President Mary Daly said she believes the main risk to the economy is a worsening of already high inflation as oil prices climb due to the conflict in Ukraine and a disruption in supply chains from China's COVID-19 countermeasures. Traders are pricing in a 61.6% chance of a 50-basis-point hike at the Fed's May meeting, according to CME's FedWatch Tool, up from slightly more than 50% a week ago. In the wake of Powell's comments, Goldman Sachs now anticipates the central bank will raise interest rates by 50 basis points at both its May and June meetings. Investors were in a risk-on mood, as U.S. stocks rose and dented some of the safe-haven appeal of the greenback, with equities getting a lift, in part, from bank shares on Fed rate hike expectations. "For the dollar, it is well supported by the Fed's increasingly hawkish rate stance but it is off its peaks, risk-appetite has something to do with that, with stocks higher that is kind of tempering the dollar’s gains," said Joe Manimbo, senior market analyst at Western Union Business Solutions in Washington. "At least for now, it seems the market is giving the Fed the benefit of the doubt that it can foster a soft landing and that is what is underpinning risk appetite and capping gains in the dollar." The dollar index fell 0.06%. The yen continued its recent weakness as the Bank of Japan renewed its stance on keeping its ultra-loose monetary policy intact. Story continues The yen hit a fresh six-year low of 121.03 and last weakened 1.05% versus the greenback at 120.72 per dollar. The yen also suffered against other currencies, with the euro hitting a five-month high of 133.33 and was last up 1.2% to $133.17. The Japanese currency slumped to a more than 6-1/2-year low against the Swiss franc at 128.91, with the franc last up 1.48% to $128.89. The euro was up 0.13% to $1.1028. The single currency has weakened over the past month as the conflict in Ukraine has escalated, leading to an increase in energy prices. On Monday, European Central Bank President Christine Lagarde said the Fed and ECB will move out of sync, as the war in Ukraine has very different impacts on their respective economies. But ECB policymaker Francois Villeroy de Galhau said on Tuesday the central bank needs to look beyond short-term swings in energy prices and focus on underlying inflation trends. Sterling was last trading at $1.326, up 0.72% on the day. In cryptocurrencies, Bitcoin last rose 3.67% to $42,662.37. Ethereum last rose 3.59% to $3,014.26. (Reporting by Chuck Mikolajczak; Editing by Marguerita Choy and Jonathan Oatis) || Bitcoin Tops $41K After Yellen's Crypto Statement Inadvertently Published Early: Bitcoin (BTC) rallied early on Wednesday, pushing the broader crypto market higher after U.S. Treasury Secretary Janet Yellen's inadvertently published remarks revealed President Joe Biden's impending crypto order would take a constructive approach in regulating the digital asset industry. "A presidential executive order on cryptocurrencies would 'support responsible innovation' as it coordinates U.S. policy across agencies," Yellen said in the statement, which was accidentally published, and then unpublished, late Tuesday before being officially published Wednesday. "Under the executive order, Treasury will partner with interagency colleagues to produce a report on the future of money and payment systems," Yellen added. Bitcoin (BTC) picked up a bid and rose nearly 7% to $41,900 after CoinDesk reported Yellen's comments, soothing market nerves. Other prominent cryptocurrencies including ETH, SOL, LUNA followed suit, according to CoinDesk data. "Based on remarks, crypto [executive order] is positive and calls for coordinated and comprehensive approach to digital asset policy that will support responsible innovation," Gemini Trust's Cameron Winklevoss tweeted . "I applaud this constructive approach to thoughtful crypto regulation and look forward to working together with the various stakeholders to ensure that the U.S. remains a leader in crypto," Winklevoss added. The White House's long-awaited executive order directed at cryptocurrencies has recently attracted strong attention, thanks to speculation wealthy Russians could be using bitcoin and dollar-pegged stablecoins to bypass economic sanctions levied by the West. As such, several analysts have been worried the Biden administration would take a hard stance on the evolving crypto sector. While Yellen's comments have revealed a balanced approach, concerns about crypto's use for illicit financing persist. "The executive order will address risks related to illicit finance, protecting consumers and investors, and preventing threats to the financial system and broader economy," Yellen's now-deleted statement said. The statement, dated March 9, was posted on the Treasury Department’s website on Tuesday night and was taken down shortly after it was published. Story continues UPDATE (March 9, 06:04 UTC): Updated headline and lead paragraph to say that the comments were inadvertently published early. Adds Cameron Winklevoss' comments. UPDATE (March 9, 06:20 UTC): Amended second part of sixth bullet and added link to a report citing analyst comments. UPDATE (Mar. 9, 06:31 UTC): Added eighth bullet with details about the inadvertently published statement. || Bitcoin Miner Core Scientific Has More Than 100% Upside: BTIG: Core Scientific (CORZ) is one of the largest vertically integrated bitcoin (BTC) mining companies in North America, according to BTIG analyst Gregory Lewis, who initiated coverage with a buy rating and $18 price target. • Vertically integrated, said Lewis, means Core owns not just mining rigs but the infrastructure to host such rigs for both itself and others. The companycame public last monththrough a merger withSPACPower & Digital Infrastructure Acquisition. • At about 7.5 EH, or roughly 3.8% of global hash capacity, Core already operates the most hash among its publicly traded peers, said Lewis. With another 7.5 EH scheduled to come online later this year, the company’s global market share could rise to 4%-5%. Core also has a diversified infrastructure footprint, with seven locations across the U.S., and another two under construction. • Another selling point is the company’s hosting business for third-party miners (currently at about 7.1 EH), a source of stable revenue that should enable a lower cost of capital than peers, said Lewis. He initiated coverage with a buy rating and $18 price target, or more than a double the current price of $7.90. Read more:Core Scientific Mined Over 1K Bitcoin in December, Nearly 6K in 2021 || Billionaire Buffett’s Berkshire Invests in Crypto-Friendly Bank: Warren Buffet’s Berkshire Hathaway ( BRK.A ) has bought $1 billion worth of stock in a bank that focuses on crypto assets, so it appears that Bitcoin is not rat poison after all. Earlier this week, the investment firm made a filing to the U.S. Securities and Exchange Commission (SEC) revealing that it had purchased stock in Nubank, a Brazilian digital bank and the largest of its type in Latin America. The bank operates outside of the traditional finance system and is called a ‘Neobank’ according to reports . It allows customers to invest in Bitcoin ( BTC ) and crypto exchange-traded funds (ETF) which is a sector that Buffet and company have largely shunned. Buffet’s Crypto U-turn It is not the first time Berkshire has invested in the bank with it having already purchased a $500 million stake in Nubank last year. Buffet’s investment company is the seventh-largest in the world with a market capitalization of just over $700 billion according to CompaniesMarketCap . This is equivalent to about a third of the entire cryptocurrency market capitalization at the moment. Berkshire has also been dropping investments in traditional finance with $3 billion in shares of Visa and Mastercard dropped according to the SEC filing. Warren Buffet gained infamy in crypto circles for calling Bitcoin ‘rat poison squared’ in early May 2018 when the asset was trading at around $9,000 after falling from its December 2017 peak of $20,000. Earlier this week, it was reported that Berkshire bought shares of gaming giant Activision before Microsoft announced its takeover. Crypto: A ‘Venereal Disease” Buffet’s partner, billionaire investor Charlie Munger, also has a deep-seated loathing for digital assets. This week, the 98-year-old vice chairman of Berkshire Hathaway labeled crypto as a ‘venereal disease’ according to Reuters . He stated that he was proud that he has avoided it adding: “I just regard it as beneath contempt. Some people think it’s modernity, and they welcome a currency that’s so useful in extortions and kidnappings [and] tax evasion.” Story continues Bitcoin has gained almost 400% in value since Buffet first called it rat poison so, as investments go, both were completely wrong. The firm also believes in crypto, especially where it has invested in Latin America. The region is one of opportunity due to its large populations and poor banking services. This article was originally posted on FX Empire More From FXEMPIRE: USD/CAD Moves to the Lower End of Its Range Ahead of the Release of Fed Minutes GBP/USD Lacks Momentum Ahead Of U.S. Jobs Data Exclusible Private Islands Sold Out in The Sandbox European Equities: FOMC Meeting Minutes and U.S Stats in Focus Oil Tumbles after Fed Minutes Confirm Aggressive Tightening Russia Acknowledges That It’s Impossible To Ban Bitcoin || Bitcoin rallies over $42k despite US regulation threat: Bitcoin has soared in value today in a surprise twist on the eve of Washington's planned regulatory overhaul of the industry. The cryptocurrency market capitalisation has jumped 6.5% today, up to $1.91tn as US president Joe Biden is poised to sign the new regulatory order. The order will also see Washington instruct agencies perform a study of the cryptocurrency sector and task the US Justice Department and Treasury to analyse the legal andeconomic ramificationsof creating a US central bank digital currency Read more:'Crypto lobby groups are dictating terms in Washington' However, despite the coming regulatory policy changes in the US, the world's preeminent cryptocurrency has soared by nearly 8.5% in value in the last 24 hours. Bitcoinhas reached $42,245, whilst other cryptocurrencies have performed well with ethereum climbing over 6.5% in the last 24 hours to $2,755. Watch: Philip Hammond on why crypto adoption is unstoppable The text of the order has been in the works for months, and the Bloomberg news outlet says it obtained some of the details. The main points in the order are instructions to begin a government-wide effort to study cryptocurrencies and their effects on the US economy. The order is expected to give the US State Department the task of working with foreign powers on new regulatory measures for monitoring cryptocurrency trade across international borders. Another detail that has been obtained is an instruction to see that the US Treasury Department analyses the use of cryptocurrencies in financial crime and their effect on the environment. One of the most significant details of Biden's cryptocurrency order is a direction to see the US Federal Reserve study the possibility of launching a US central bank digital currency, or "digital dollar". Read more:Crypto live prices The US Federal Reserve released a report on this in January where it described a “potential US central bank digital currency that could provide a safe, digital payment option for households and businesses as the payments system continues to evolve”. The report stressed that the development of a US central bank digital currency would “fundamentally change the structure of the US financial system, altering the roles and responsibilities of the private sector and the central bank”. Read more:Club for women in crypto promises to close gender funding gap Marcus Sotiriou, an analyst at the UK-based digital asset broker GlobalBlock has discussed the increasing trend of institutions finding ways to gain exposure to bitcoin exchange traded funds (ETFs). Mr Sotiriou said: "Bitcoin rallied 9% to over $42,000 this morning, as key points from Joe Biden’s executive order on crypto have been leaked. "The order seems relatively benign, hence giving the market some clarity." He described "investors being prepared for the downside risks of this event by waiting on the sidelines, and we are seeing many buy bitcoin back in what appears to be a spot-driven rally". Bitcoin has been very bearish for the last few months and has been sliding downwards since its all-time high of $64K in November 2021. Leading technical analyst Benjamin Cowen has pointed to a ratio that factors in the realised market cap of bitcoin to its thermo capitalisation, which is the sum of bitcoin miner revenue. The price of bitcoin correlates with this ratio as charts reveal that when the ratio goes up, so does the price of bitcoin. Cowen said on his influential Youtube channel that "in this market cycle we have not seen a higher high on this metric". || Taking a Look at Land Tax in the Metaverse Space: In the crypto space, the metaverse is the latest buzzword that market participants believe holds significant potential in creating tremendous growth opportunities for marketers. The budding metaverse space has been capturing the imagination of organizations and techies thereby allowing them to deliver advanced immersive and interactive digital experiences to their customers. In fact, the space has given way to bizarre concepts like metaverse real estate and more surprisingly metaverse land tax. Yes, you heard it right, a tax for virtual property in the virtual metaverse space. Metaverse Real Estate and Land Tax Reports revealed that interest in metaverse land has reached a new peak. By 3 December 2021 itself, the sale of virtual real estate on metaverse projects had reached $100 million. Notably, this was the highest amount investors have spent on virtual real estate since the emergence of the latest trend. By now the number would be much higher with the meta mania taking over. Further, news like Exclusible’s all 25 Private Islands on The Sandbox getting sold out reiterates the above notion about the growth of luxury NFTs and metaverse real estate. Metaverse land is a virtual property in the form of NFTs, which are unique digital tokens that can represent ownership in virtually anything online. For now, metaverse land activities are actively taking place on the Ethereum blockchain with more and more projects coming up on Solana , The Sandbox, Decentraland , and others. However, virtual properties can sometimes become too valuable, and this reality is also nothing new. But how can early NFT-based virtual world projects avoid this pitfall and its more potent implications? Some experts are of the opinion that implementing a land value tax and a citizen’s dividend could be a promising solution. Land Value Tax and Citizen’s Dividend Indie game developer and game analyst Lars Doucet, argues that digital land crises in-game or virtual environments have historically stemmed from making digital land act too much like physical land. Notably, EVE a game launched in 2003, saw a real estate crisis but the creators introduced a ‘use it or lose it’ fee that drove out the speculators who didn’t want to maintain the properties, and it saved EVE’s early economy. This fee can be described as a land tax. Story continues Analysts have argued that ‘digital land tax’ isn’t the only way NFT-based virtual world projects can alleviate the land crisis, but it is a compelling option in the toolbox, especially when combined with a civic dividend that rewards active users. Ducet recommends: “You can solve the land problem from speculators by increasing what everyone wants (increasing supply), reducing its hard and soft benefits (reducing demand), or by levying land rents. All of this will increase the productivity of the digital economy by mitigating the negative effects of speculation and deadweight loss.” So, for a space like Metaverse which is expected to reach $758.6 Billion by the year 2026, seems like concepts like virtual land tax could not just help avoid land crises but also make the larger experience more real-life. This article was originally posted on FX Empire More From FXEMPIRE: USD/CAD Remains in a Range as The Canadian Dollar Retreats Bitcoin (BTC) Treads Water as Markets Eye News on Russia U.S Mortgage Rates Surge for a Second Consecutive Week Russia: Credit Risk Hinges on Design of Any Tougher Sanctions Taking a Look at Land Tax in the Metaverse Space The NASDAQ 100 Pulls Bitcoin (BTC) Back to sub-$40,000 || How low could bitcoin fall?: Bitcoin slumped as low as $36,372 on the day after Russian president Vladimir Putin said he recognised two self-proclaimed separatist republics in eastern Ukraine, sending in troops. Photo: REUTERS/Dado Ruvic/Illustration (Dado Ruvic / reuters) Bitcoin ( BTC-USD ) continued its recent fall on Tuesday, slipping more than 2% to $37,600 ($27,718) as investors turned to traditional safe-havens such as gold and the US dollar. The cryptocurrency, which is now trading around a two-week low, has analysts eyeing a $30,000 level as the conflict between Ukraine and Russia heats up. It dropped as low as $36,372 on the day after Russian president Vladimir Putin said he recognised two self-proclaimed separatist republics in eastern Ukraine, sending in troops. Other cryptocurrencies also declined, with ethereum ( ETH-USD ) shedding as much as 3% and XRP ( XRP-USD ) 9% lower. Bitcoin has fallen over the last week amid lingering geopolitical tensions. Chart: Yahoo Finance (Yahoo Finance) "In a tense situation, investors will prioritise commodities such as gold and crude oil rather than riskier stocks and cryptos," said Griffin Ardern, a volatility trader from crypto-asset management company Blofin. Meanwhile, John Roque of 22V Research said in a note: “In the globe’s latest maelstrom, US/Russia/Ukraine, bitcoin, the asset purported to be the answer to every question, has quietly weakened and is notably underperforming its arch-enemy, gold. He predicted that bitcoin may fall below $30,000, a level not seen since July 2021, as traders send bullion to an all-time high instead. Antoni Trenchev, Nexo co-founder and managing partner, echoed this point. He said: “Bitcoin’s inability to hold $40,000 amid heightened Ukraine tensions means $30,000 is back in play. “Geopolitics has, for now, replaced inflation as the primary driver of both traditional and crypto markets.” Read more: Shell and BP rise as oil soars on deepening Ukraine-Russia crisis Gold prices ( GC=F ) rallied back above $1,900 an ounce on the day, while silver prices were also up by more than 1%, and the Japanese yen was also in demand. “Looks like bitcoin will not be a safe haven in geopolitical crises,” Holger Zschaepitz of Welt said. “Digital gold (bitcoin) has plummeted…while gold has risen. Correlation between digital and analog gold is now even negative. The narrative that digital gold is a better way to escape has not panned out in Ukraine.” Story continues As well as the Ukraine-Russia tensions in recent weeks, bitcoin has also faced a struggle from Federal Reserve rate hike fears. Watch: What are the risks of investing in cryptocurrency? || Couple accused of $4.5bn Bitcoin cyber fraud ask judge to be allowed to stay near frozen embryos: An attorney for Heather Rhiannon Morgan and Ilya Lichtenstein has claimed that they are not a flight risk because Ms Morgan has frozen eggs in New York City . The pair were arrested on Tuesday on federal charges of conspiracy to commit money laundering and conspiracy to defraud the United States. They stand accused of laundering $4.5bn worth of Bitcoin acquired in the hack of the Bitfinex exchange in 2016. If they are convicted, they could go to prison for up to 25 years. A lawyer for the couple, who has been dubbed “Bitcoin Bonnie and Crypto Clyde” by the financial newsletter Morning Brew , asked a judge to allow the defendants to be let go on their $3m and $4.5m bails. Attorney Samson Enzer argued that the couple’s decision not to flee when they were made aware of the investigation proves that they’re not a flight risk. But prosecutors say that the couple is likely to have huge amounts of money that remain hidden from the law. Mr Lichtenstein also retains dual citizenship with Russia , possibly allowing the couple a safe place to relocate to. Prosecutors said the Wall Street couple should be denied bail, arguing that they are a flight risk with potential access to massive hidden funds. Mr Enzer argued that the couple would not leave Ms Morgan’s frozen eggs behind, writing in a legal filing that she “previously froze several of her embryos at a hospital in New York in anticipation of starting a family together, as she can only conceive through in vitro fertilization because she suffers from endometriosis”. “The couple would never flee from the country at the risk of losing access to their ability to have children, which they were discussing having this year until their lives were disrupted by their arrests in this case,” Mr Enzer added. Federal officials say they have retrieved around $3.6bn in cryptocurrency. It’s the largest seizure of financial assets ever conducted by the Department of Justice . The seizure is connected to the attack on the Hong Kong -based virtual crypto exchange Bitfinex six years ago. Story continues “Both stayed put in their residence in lower Manhattan ... even after the government’s investigation targeting them in this case,” Mr Enzner said concerning his clients, whose next bail hearing is set to take place on Monday at the US District Court in Washington, DC , where Judge Beryl Howell will decide what happens to the couple as they await their trial. Judge Howell ordered that the couple be moved to the capital on Thursday. Mr Enzner asked the judge to hold up the agreement struck with Manhattan Judge Debra Freeman, who set a $5m bond for Mr Lichtenstein and a $3m bail for Ms Morgan, in addition to home incarceration and the use of location-monitoring devices. But that ruling was blocked when Judge Freeman heard prosecutors’ arguments concerning the flight risk. “Judge Freeman correctly decided that the government has failed to meet its burden of showing that there are no bail conditions that would reasonably assure that Ms Morgan and Mr Lichtenstein will appear as required for further court proceedings in this case,” Mr Enzner wrote. “This court should uphold Judge Freeman’s well-reasoned bail rulings.” “The government had law enforcement agents execute a search warrant at their New York residence,” he added. “Although federal agents seized Mr Morgan’s and Mr Lichtenstein’s travel documents, numerous electronic devices, and other property from their home on January 5 (and left a copy of the warrant indicating that it was granted as part of an investigation into a money-laundering conspiracy and other alleged offenses), the couple took no steps to flee.” “Ms Morgan and Mr Lichtenstein have no reason to flee to avoid the government’s allegations, as the government’s complaint reveals significant holes in the government’s case against them, especially as to Ms Morgan,” Mr Enzer stated in the court filing. “The money-laundering accusations in the government’s complaint are predicated on a series of circumstantial inferences and assumptions drawn from a complex web of convoluted blockchain-and cryptocurrency-tracing assertions.” When the hack occurred, the allegedly stolen Bitcoin was worth $71m – it’s now worth $4.6bn, DailyMail.com reported. Prosecutors said earlier this week that most of the Bitcoin had been recovered but that “there are at least 24 virtual current addresses linked to the hack [and believed to be in the defendants’ control] for which law enforcement does not possess the private keys”. “The remaining addresses contain about 7,500 bitcoin, which is currently valued at over $328 million,” prosecutors said. “The defendants are sophisticated cybercriminals and money launderers who present a serious risk of flight and should be detained pending trial,” prosecutors added. [Random Sample of Social Media Buzz (last 60 days)] None available.
Trend: up || Prices: 39521.90, 40127.18, 41166.73, 39935.52, 40553.46, 40424.48, 39716.95, 40826.21, 41502.75, 41374.38
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 2016-10-14] BTC Price: 640.38, BTC RSI: 71.90 Gold Price: 1253.10, Gold RSI: 28.83 Oil Price: 50.35, Oil RSI: 62.31 [Random Sample of News (last 60 days)] Big Banks Team Up to Develop Blockchain Settlement 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 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 BuzzBlockchain, 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.Last December The Goldman Sachs Group, Inc. GS filed a patent application with the US Patent & Trademark Office for a new cryptocurrency called SETLcoin. While Citigroup Inc. C is currently working on the development of its own digital currency “Citicoin,” JPMorgan Chase & Co. JPM partnered with start-up firm Digital Asset Holdings earlier this year to launch a trial project that utilizes the blockchain technology.Bottom lineThe 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 download7 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 reportJPMORGAN CHASE (JPM): Free Stock Analysis ReportBANK OF NY MELL (BK): Free Stock Analysis ReportCITIGROUP INC (C): Free Stock Analysis ReportUBS GROUP AG (UBS): Free Stock Analysis ReportDEUTSCHE BK AG (DB): Free Stock Analysis ReportBANCO SANTAN SA (SAN): Free Stock Analysis ReportGOLDMAN SACHS (GS): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research || 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. 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) View comments || Hacker Group Claims to Be Selling NSA Files: UPDATED Tuesday morning with Edward Snowden's comments, Tuesday afternoon with a comprehensive list of purported NSA tools referenced in the data dump and Friday morning with a statement from WatchGuard Technologies. It's either a very elaborate hoax, or it's evidence that someone has hacked into the U.S. National Security Agency. On Saturday (Aug. 13), tweets and other online postings from a new group calling itself "Shadow Brokers" said that it was auctioning off files stolen from the "Equation Group." Equation Group is Kaspersky Lab's name for an extremely sophisticated cyberespionage group with ties to the Stuxnet computer worm, which in 2010 damaged Iranian nuclear-fuel-processing facilities. The unspoken understanding is that the Equation Group is part of the NSA. "We hack Equation Group. We find many many Equation Group cyber weapons. You see pictures. We give you some Equation Group files free, you see. This is good proof no?" read an entertaining message posted on Pastebin by Shadow Brokers. "You enjoy!!! You break many things. You find many intrusions. You write many words. But not all, we are auction the best files." MORE: 7 Ways to Stop NSA Spying on Your Smartphone As proof, Shadow Brokers posted links to various file-sharing services, from which a 235MB Zip file could be downloaded. Shadow Broker said that the Zip file was just a sample of the Equation Group files it had. Security experts who have looked at the files say they bear names like EGREGIOUSBLUNDER, ELIGIBLEBACHELOR and ESCALATEPLOWMAN, and detail ways to get through commercially available firewall software. Documents leaked in 2013 by former NSA contractor Edward Snowden, along with other evidence, indicated the existence of NSA tools with similarly sillly-sounding names, such as IRATEMONK, STELLARWIND and EGOTISTICALGIRAFFE. Hoax or not, some of the files in the Shadow Brokers data dump appear to be genuine malware, said researchers. Story continues "There are actual exploits in the dump, with a 2013 timestamp on files," wrote Matt Suiche , a well-known French security researcher, in a Medium post Monday (Aug. 15). "We do not know if they are working as nobody has tried them, but they are actual exploits and not only references." "Equation Group's ELIGIBLECANDIDATE exploits an RCE [remote code execution] vulnerability in HTTP cookies in a TOPSEC firewall CGI script," tweeted Mustafa Al-Bassam , a British researcher who was once a member of the Lulzsec hacking crew. (TOPSEC is a Chinese cloud-security provider.) "ESCALATEPLOWMAN is actually a privilege escalation exploit against WatchGuard firewalls." In more (deliberately?) broken English, the Shadow Brokers missive instructed interested parties to bid for the files using Bitcoin. The document didn't say how many files in total Shadow Brokers had. "If you like free files (proof), you send bitcoin," says the message. "If you want know your networks hacked, you send bitcoin. If you want hack networks as like equation group, you send bitcoin. If you want reverse, write many words, make big name for self, get many customers, you send bitcoin. If want to know what we take, you send bitcoin." If the documents really are from the NSA, how did Shadow Brokers get their hands on them? Who's crafty enough to hack the NSA? The Grugq, a pseudonymous South African bug broker — i.e., he sells newly found "zero-day" software exploits to intelligence agencies such as the NSA — put forward a theory on Twitter earlier Monday. "This dump does not support the assertion that NSA was hacked. That sort of access is too valuable to waste for (almost) any reason," the Grugq tweeted . "I would guess: the dump is the take from a counter hack against a pivot/C2 [malware command-and-control server] that was mistakenly loaded with too much data. [Stuff] happens." UPDATE: Edward Snowden himself Tuesday (Aug. 16) piped in on Twitter about the purported NSA files, agreeing with the Grugq that they came from a malware command-and-control server. Snowden blamed Russian state-sponsored hackers trying to do damage control in the wake of the theft, and subsequent release, of embarrassing documents from the Democratic National Committee's email servers. "NSA malware staging servers getting hacked by a rival is not new. A rival publicly demonstrating they have done so is," Snowden wrote. "I suspect this is more diplomacy than intelligence, related to the escalation around the DNC hack. "Circumstantial evidence and conventional wisdom indicates Russian responsibility," he continued. "Here's why that is significant: This leak is likely a warning that someone can prove U.S. responsibility for any attacks that originated from this malware server." "That could have significant foreign policy consequences. Particularly if any of those operations targeted U.S. allies. Particularly if any of those operations targeted elections," Snowden wrote. "Accordingly, this may be an effort to influence the calculus of decision-makers wondering how sharply to respond to the DNC hacks." UPDATE: Mustafa Al-Bassam has posted a list of the purported Equation Group tools and exploits referenced in the "free" documents released by Shadow Brokers. Our favorite is EPICBANANA, which Al-Bassam describes as "a privilege escalation exploit against Cisco Adaptive Security Appliance (ASA) and Cisco Private Internet eXchange (PIX) devices." UPDATE: In a statement provided to Tom's Guide, WatchGuard Technologies responded to the Shadow Brokers data dump: "WatchGuard takes all reported vulnerabilities seriously and values the effort that security researchers put into the responsible disclosure of potential exploits. We investigated the reported exploit and found that it cannot be used against any of our currently supported appliances. The referenced vulnerability was actually targeting RapidStream appliances, a company WatchGuard acquired in 2002. This RapidStream exploit did not carry over into any WatchGuard appliances and is not a vulnerability for our current customers." How the NSA's Spying Keeps You Safe 10 Worst Data Breaches of All Time Can You Hide Anything from the NSA? Copyright 2016 Toms Guides , a Purch company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. || You're So Money: NY Judge Rules Bitcoin Qualify As 'Funds': A New York judge ruled bitcoin qualifies as money as part of a judgment related to a case over hacking attacks against JPMorgan Chase & Co. (NYSE: JPM ) and other companies, according to a report on Fortune . The report said U.S. District Judge Alison Nathan in Manhattan rejected Anthony Murgio's bid to dismiss two charges regarding his alleged operation of Coin.mx. Prosecutors have called Coin.mx an "unlicensed bitcoin exchange." Related Link: What Is Blockchain, And Why Should You Care? But, Nathan ruled bitcoin satisfies the definition of a virtual currency. "Bitcoins are funds within the plain meaning of that term. 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," Fortune reported, quoting Nathan. Brian Klein, a lawyer for Murgio, said he disagreed with the decision. Last year, prosecutors charged Murgio over the operation of Coin.mx and in April charged his father, Michael, with participating in bribery to support the exchange. Full ratings data available on Benzinga Pro. Do you have ideas for articles/interviews you'd like to see more of on Benzinga? Please email [email protected] with your best article ideas. One person will be randomly selected to win a $20 Amazon gift card! See more from Benzinga On Deck Has 'More Powerful Future Operating Leverage' © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || What companies need to do after a major hack: Yahoo confirmed a huge data breach took place in 2014 affecting up to 500 million users on Thursday. In August, the company said it was investigating a possible breach after a hacker claiming to have stolen the account information posted 200 million Yahoo user accounts for sale on dark web marketplace The Real Deal. The account information — which purportedly included user names and passwords easily cracked with free tools available online — was listed for 3 Bitcoin, or roughly $1800. Such a low asking price is indicative of an older breach, said Security Scorecard chief research officer Alex Heid. It is likely that the hacker or hackers behind the attack has already tried to use the information to hack into other services — such as bank accounts, PayPal accounts, email services, even Netflix — and erased a lot of the value, said Heid. Yahoo is already drawing criticism for not acting quickly enough to notify users of the breach, which could have larger implications on the $4.8 billion sale of the core business to Verizon. Cybersecurity experts agree that responding quickly to a breach is key to mitigating the impact. If you think you may be among the possible millions of victims of the breach, here are the five steps you should take . The big question is whether Yahoo has accurately quantified the liability to Verizon, said Dimitri Sirota chief executive officer of cybersecurity firm BigID which helps companies track data within their systems. It is not uncommon for companies not to reveal the extent of a breach prior to a thorough forensic investigation, he said. Confirmation that a breach took place is unlikely to derail the Verizon deal, he said. That said, class action lawsuits from customers and security suits from investors are not uncommon in these types of situations. "A lot of this will depend on the severity of the breach and how current it is," he said. "I suspect there will be some fallout." Here are the five steps experts say every company should take following a breach. Story continues 1) Respond quickly "It's all about speed," said Wendi Whitmore, IBM director of incident response and intelligence services. How fast a company can detect and respond to a breach greatly impacts their recovery time, she said. Organizations which complete a post-mortem within 30 days save an average of $1 million, according to the IBM and Ponemon Institute cost of a data breach study. "Every day it goes undetected, unchecked, that's going to escalate damage," said Experian vice president of Fraud & Identity product strategy Matt Ehrlich 2) Have a plan in place Ideally, a company should already have a response plan in place in the event that a breach takes place. The response plan should engage three key teams: An incidence response team, a crisis communications firm, and outside counsel — a legal firm focused on computer security and cyber law, said Whitmore. "Make sure you have contracts that specify how quickly these organizations will provide support and response time, so you aren't negotiating when you have had a breach," she said. "As the organization, you have a lot more leverage in negotiating if you're doing it proactively —the rates are less and they will agree to time frames." By getting all the legal and procurement done ahead of time, companies can save days in the event of a breach. "Days make a huge difference when responding to a breach," she said. 3) Be prepared to access the data for investigators An investigative response team will need access to a company's network and host and any threat detection and logging tools the company employs. Healthcare and retail companies need to notify consumers as soon as possible. "The more time it takes them to identify that and get to the bottom of it, the more its costs them," said Whitmore. 4) Be ready to do damage control Typically, the investigation and remediation go hand in hand, said Whitmore. The remediation process should be tactical and strategic — a company may need to ask users to reset account information — which often has a knock on effect on operations. 5) Have a crisis communications plan for employees, customers and the media Once a company confirms a breach has taken place, depending on the industry, it may be legally required to inform people — the requirements vary from state to state, country to country, and depend on industry, regulation and compliance laws, and the type of information breached. "This is one reason why it is so important to hire outside legal counsel and an IR firm well versed in these requirements," said Whitmore. When communicating about the breach with employees, customers and the media, it is important not to overreact and reveal too much information, too soon, said Ehrlich. All communication should be factual and straight forward — a strategy that is more likely to make your customers empathetic. "You need to have all the facts and information — acting without those can be as damaging as doing nothing," said Ehrlich Something that often gets overlooked is an internal communications plan, said Whitmore. Once the news of a breach leaks out, employees often start to field a lot of questions. Having a law firm and crisis communications firm develop a crisis communications plan in advance is a good idea. Employee training is also important, and can be worked out before a breach ever happens. "Imagine the worst case scenario — an intern tweets screenshot of something happening on you network," said Whitmore. "Make sure employees know wait they can and can't say and are trained and aware of what the corporate communications policies are." The key takeaway: Take care of your crown jewels "Personal data is the life-blood of most organizations, and they need to better safeguard it against misuse and theft," said Sirota. || John McAfee's MGT receives SEC subpoena, shares slump: By Noel Randewich and Jim Finkle (Reuters) - Shares in a firm led by anti-virus software pioneer John McAfee fell 24 percent on Monday after it disclosed that it had received a subpoena from the U.S. Securities and Exchange Commission. The company, MGT Capital Investments Inc (MGT.A), said in a statement that it was cooperating with the SEC after receiving the subpoena on Thursday and that it does not believe it is or will be subject to any enforcement proceedings. In May of this year, shares in MGT surged more than 1,200 percent after the mobile gaming company said McAfee would become its chief executive. It said it would enter the fast-growing cyber-security market through acquisitions. MGT shares fell 97 cents to $2.47 in late-afternoon trade, trimming its market capitalization to about $64 million. An SEC spokesman declined to say why it subpoenaed MGT and what information it wanted. An MGT spokesman also declined to comment. With McAfee at the helm, MGT has said it plans to acquire security technologies to address threats to mobile and personal devices. McAfee was the subject of a media frenzy in 2012 when he fled his home in Belize after police sought to question him about the murder of a neighbor. They ultimately said he was not a suspect. Chipmaker Intel (INTC.O), which bought McAfee Inc for $7.7 billion in 2010, long after its founder had left the company, said recently that it would spin off the unit. McAfee and MGT recently sued Intel for the right to use the McAfee name. McAfee said during a conference call on Thursday that he expected MGT to begin generating revenue in the second quarter of next year after launching its first product at the end of 2016. He declined several requests from callers to provide financial projections. "I really can't say now about future revenue streams, but I certainly tell you that what we are doing and what we are building is going to be monumental," McAfee said in response to one of the questions, from a man identified as an individual investor. "Good enough for me, man. Good enough," the man replied. MGT also said it launched a Bitcoin mining operation, which involves using customized computers to earn Bitcoins in return for recording and verifying transactions in the crypto-currency. (Reporting by Noel Randewich and Jim Finkle; Editing by Dan Grebler) || Liberty Global partners with Ericsson to expand DVR services in Latin America: • LibertyGlobal Group (LiLACGroup) simplifies DVR expansion through Ericsson`s Video Storage and Processing Platform (VSPP) in Latin America • LiLAC Group`s customers will have access to DVR services, including future updates to support the trend towards time-shifted TV • Contract strengthens Ericsson`s position as a leading provider of TV and media solutions in Latin America Ericsson (ERIC) and Liberty Global today confirms a new two-year deal between VTR in Chile and Liberty Cablevision of Puerto Rico, both part of LiLAC Group (Liberty Latin-America and Caribbean, part of Liberty Global Group). With Ericsson`s Video Storage and Processing Platform (VSPP), the TV operators will be able to expand the reach of their Digital Video Recording (DVR) services (known as Catch-up TV and Restart TV) across their countries. Latin American TV consumers are rapidly changing their habits and expectations, where they now want to decide what they want to watch and pick-and-mix their own services. The new deal addresses this issue, allowing LiLAC Group to build innovative and compelling consumer experiences. Ericsson`s VSPP simplifies the recording capabilities and provides enriched functionalities for LiLAC`s linear TV services. It also offers a unique, proven infrastructure that allows for seamless augmentation and replacement of legacy television services with new cloud-based services. Furthermore, Ericsson`s VSPP provides outstanding performance gains and greatly simplifies Cloud DVR and video on demand (VoD) architectures, allowing operators to avoid many of the complexities and costs associated with these new services. Adrian Gioia, Head of TV & Media, Ericsson Latin America and Caribbean, says: "We are looking forward to supporting LiLAC Group in delivering ever-improving content, quality and features that delight TV consumers and meet their unique and ever-changing needs. With our solution we are addressing all customer segments with unique configurations, while providing LiLAC Group with the ability to future-proof and grow as they see necessary." Derek Yeaomans, Logistic Manager at VTR, says: "We consider DVR a very attractive entertainment service for our customers and we are pleased to now provide them with an enriched user experience that lets them enjoy the service even more. Working with Ericsson makes us confident we will continue to succeed in meeting consumer expectations into the future." With a recent history of more than 50 transformation programs delivered globally, Ericsson`s consulting and systems integration services represent the perfect combination of competence, scale and presence that help TV and media organizations meet their goals. With a global team of media experts ready to take on complex media transformation projects, Ericsson is the market leader in Cloud DVR deployment and services, having performed multiple deployments and with ongoing trials with major Tier 1 operators around the world. NOTES TO EDITORS 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 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] About Liberty GlobalLiberty 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. Liberty Global invests in the infrastructure that empowers its customers to make the most of the digital revolution. Liberty Global`s scale and commitment to innovation enables it to develop market-leading products delivered through next-generation networks that connect its customers who subscribe to over 59 million television, broadband internet and telephony services. Liberty Global also serves over ten million mobile subscribers and offers WiFi service across six million access points. Liberty Global`s businesses are comprised of two stocks: the Liberty Global Group (NASDAQ: LBTYA, LBTYB and LBTYK) for its European operations, and the LiLAC Group (NASDAQ: LILA and LILAK, OTC Link: LILAB), which consists of its 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 submarine fiber network throughout the region in over 30 markets. For more information, visitwww.libertyglobal.comand follow Liberty Global ontwitter,LinkedIn,FacebookandInstagram. [["Oskar Nooij", "+1 303 220 4218", "", "Matt Beake", "+44 20 8483 6428"], ["Christian Fangmann", "+49 221 8462 5151", "", "Andrew Mitchell", "+44 79 4628 6586"], ["John Rea", "+1 303 220 4238", "", "", ""]] Liberty Global partners with Ericsson to expand DVR services 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#2044536 || Your first trade for Friday, August 26: The " Fast Money " traders gave their final trades of the day. Steve Grasso is a buyer of Dollar General (DG ( DG ) ). Karen Finerman is a buyer of the SPDR S&P 500 ETF Trust (SPY (NYSE Arca: SPY) ). David Seaburg is a buyer of Bank of America (BAC (NYSE: BAC"A) ). Brian Kelly is a buyer of the Gold Miners ETF (GDX (NYSE Arca: GDX) ). Trader disclosure: On Thursday, August 25 the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: STEVE GRASSO is long BA, CC, EVGN, KBH, MJNA, MU, OLN, PFE, PHM, T, TWTR, GDX Grasso's Kids 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 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. 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 is long Bitcoin, CME, DXJ, GDX, KBE, SLV, TLT, VXX, XLF, XOP, US Dollar UUP; he is short EUR=, JPY= || 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) || 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: $601.01/$602.80 #Bitstamp $604.00/$604.29 #BTCe ⇢$1.20/$3.28 $601.62/$607.79 #Coinbase || The Science of the Blockchain (Inverted Forest Publishing) #bitcoin #bitcoins ... http://bitcoinref.com/product/the-science-of-the-blockchain-inverted-forest-publishing/ …pic.twitter.com/JEoDR1gg7G || BTC-E LAST 615.38$ AVERAGE 614.00$ at 11:02 UTC #Bitcoin #BTCUSD || 1 #bitcoin 1774.48 TL, 601.762 $, 533.980 €, GBP, 37600.00 RUR, 61078 ¥, CNH, || 1 #bitcoin = $11645.00 MXN | $611.94 USD #BitAPeso 1 USD = 19.03MXN Vía bitapeso || #Triangles #TRI $ 0.124790 (51.38 %) 0.00021391 BTC (52.43 %) || $603.83 #GDAX; $606.00 #btce; $603.00 #bitstamp; $605.07 #bitfinex; $601.10 #OKCoin; $603.71 #itBit; #bitcoin news: http://bit.ly/1VI6Yse  || 1 KOBO = 0.00000384 BTC = 0.0023 USD = 0.6992 NGN = 0.0328 ZAR = 0.2328 KES #Kobocoin 2016-09-18 22:00 pic.twitter.com/N6HJivKk6M || Bitstamp: $633.00 Bitfinex: $639.91 Coinbase: $634.35 Get a #Bitcion loan today https://goo.gl/smQBq1  #btc #FreeBitcoin || Buy Bitcoin With PayPal! Also with CC, paysafecard, Skrill, OKPAY https://www.virwox.com?r=4db29virwox.com/?r=4db29  #btc #bitcoin 18 pic.twitter.com/8sMbcJLivz
Trend: up || Prices: 638.65, 641.63, 639.19, 637.96, 630.52, 630.86, 632.83, 657.29, 657.07, 653.76
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 2017-02-24] BTC Price: 1173.68, BTC RSI: 78.13 Gold Price: 1256.90, Gold RSI: 70.17 Oil Price: 53.99, Oil RSI: 55.61 [Random Sample of News (last 60 days)] COLUMN-Trump border tax to pile on China capital flight pressure: James Saft: (The opinions expressed here are those of the author, a columnist for Reuters) By James Saft Jan 12 (Reuters) - The 'border tax' Donald Trump and Republicans are considering will spur capital flight from China, with potentially large repercussions. House Republicans back a plan for a border tax adjustment, discussed at 20 percent, which would impose a levy on imports while granting rebates to exports. While the Republican and Trump plans call for a border tax on all imports as a means to favor domestic production, Trump has also used the term to describe a punitive tax he threatens to levy directly on imports of companies which move production abroad. As ever with Trump, it is highly unclear what he intends or will attempt. Trump has in the past floated the idea of a 45 percent tariff on Chinese imports to the U.S., a higher rate than is being discussed for the border tax adjustment. For China, and for financial markets, this is going to cause trouble, and not just because it would make Chinese and other foreign imports to the U.S. less competitive. A border tax implies a strengthening of the dollar, prompting former Treasury Secretary Lawrence Summers to warn this week of a "spike" in the greenback. All else being equal, which it seldom is, a 20 percent border tax should prompt a similarly large appreciation in the dollar. That won't likely happen, in part because other countries will pile in with their own border taxes or other measures, but the dollar would get a sizable boost. That poses a complex set of problems for China. Global dollar borrowing conditions would become more expensive and, importantly, pressure would intensify on the yuan to weaken in response. "The threat to Chinese stability at a time when it is already having trouble trying to limit capital flight from a new disruption of trade is a legitimate concern," David Levy of the Jerome Levy Forecasting Center said in an interview. "This is not a great time from a Chinese point of view or global stability point of view to have anything that is disruptive to the flow of trade." One fear is that Chinese yuan owners, anticipating a dollar spike, will try to front-run the effects on the yuan, seeking to move money into other currencies or stores of value, either by following Chinese rules or by skirting them. The yuan, which trades in a band set by China, fell by 6.6 percent against the dollar in 2016 in a self-reinforcing downdraft. CAPITAL FLOATS, USUALLY To be sure, China is not the nation most vulnerable to dollar strength. That honor belongs to emerging market countries which run a current account deficit and must attract dollars for financing. Yet two years of strong capital outflows have depleted China's once, and arguably still, massive foreign currency reserves. China's reserves fell by about $320 billion to $3.011 trillion in 2016, less than the $513 billion decline of 2015 but also despite wide-ranging efforts by China to make capital flight more difficult. Seeking to circumvent capital controls, owners of yuan in China have turned to cryptocurrency Bitcoin, which more than doubled in value between September and Jan. 4. "Spot checks" on Bitcoin exchanges in China by state authorities this week sent Bitcoin down by 12 percent. At any rate, money is eager to leave by any route possible. China still has huge FX reserves, but an IMF adequacy framework implies it needs to keep about $2.7 trillion on hand. At last year's depletion rate we will soon be there, and if a border tax accelerates matters the issue could soon become urgent. Asset management behemoth PIMCO said on Thursday China might float its currency in 2017. Yu Yongding, an influential former advisor to the People's Bank of China, said on Thursday the central bank should set a "bottom line" depreciation level for the yuan in 2017 of 25 percent. Floating the yuan would certainly be a taste of his own medicine for Trump, who has threatened to brand the country a currency manipulator. It would also, however, potentially cause a very strong outflow of capital. Foreign exchange reserves would be preserved but capital flight could become a problem, and a limit on other policies. China is notable in that, with a semi-closed economy and great central control, it has been able to stimulate its way out of various upsets during and after the financial crisis. China may find it has less room to maneuver if capital is leaving, or if the yuan depreciates greatly, with or without a float. Remember too, all of this would be happening in and to China while most of the other emerging markets go through a crisis of similar origin. Regardless of its impact on U.S. exports, a border tax could easily cause massive turbulence in global markets. (Editing by James Dalgleish) || What's going on in China right now reminds us of a great Princess Leia quote from Star Wars: princess leia (Star Wars, YouTube) In the beginning of "Star Wars: Episode IV — A New Hope," rebel leader Princess Leia (RIP the great Carrie Fisher) was captured by the evil Empire. The rebels had managed to steal the plans for the Empire's secret weapon, the Death Star, and so the Empire's agents were ruthlessly hunting for them all over the galaxy. Leia told her captors that the planned Imperial crackdown on the rebels, using the Death Star to terrify planets into submission, wouldn't work. "The more you tighten your grip," she said, "the more star systems will slip through your fingers." Replace the words "star systems" with the words "Chinese yuan" and you could use the phrase to talk about what's troubling Beijing right now. Over the past week, the Chinese government has instituted even stricter capital controls to prevent citizens and corporations from taking money out of the country, according to a note circulated by Wells Fargo's Cameron McKnight and Robert J. Shore on Friday, January 6. Now regular citizens have to report transfers over $10,000 and banks have had their foreign transaction reporting limits cut by 75%. This is on top of three months of the government tightening its grip on where Chinese people and companies send their yuan. When it slips But it's not working. Money is still leaving the country — $82 billion last month, to be exact — and that is pushing the value of the yuan lower against the dollar. On December 28, China's Central Bank was forced to deny media reports that the yuan fell to 7 yuan to $1. It insisted that yuan traded between its comfortable "band" of 6.9500 and 6.9666 per dollar. "But some irresponsible media reported that the onshore rate of the yuan broke the psychological threshold of 7.0000," the central bank said, according to Reuters. The futures market was not satisfied with that response, as indicated in this tweet from Bloomberg Chief Asia Economist Tom Orlik: Yuan drop fears are back, and almost as severe as they were a year ago pic.twitter.com/t4NoN2vDMc — Tom Orlik (@TomOrlik) December 30, 2016 This is a deadly loop. The more controls the government puts on, the more desperate it seems. The more desperate it seems, the more people want to take their money out. Bloomberg estimates that China has suffered about $1.7 trillion in capital outflows since 2015. Story continues And the longer this goes on the more investors are starting to think this loop will make a meaningful difference in the value of the yuan. From Bloomberg: "By repeatedly tightening capital controls, China risks eroding confidence in its currency, said [Benjamin] Fuchs, chief investment officer at BFAM Partners (Hong Kong). At the same time, the dollar’s advance against the yen and other currencies is increasing competitive pressure on China to let the yuan depreciate, he said in an interview." Last year, Fuchs correctly predicted that the yuan would not suffer a sudden devaluation, as many hedge fund managers — like Hayman Capital's Kyle Bass — argued through early 2016. societe generale china residential capital outflows (Societe Generale) This is not to say that the government doesn't have tools to stabilize the yuan as outflows persist. It just doesn't have many, and they're not that great. China has been using its foreign currency reserves to buy yuan to prop up the currency's value. But it can't do that forever, since it needs that money to pay foreign denominated debt. Plus, China has already spent a ton of reserves on this. The exact number is fuzzy, but we do know China's Central Bank was holding $4 trillion at its highest point in 2014. Now official data shows that the number is hovering around $3.01 trillion, down from $3.05 trillion in November, according to official numbers released this weekend. China bears, like hedge fund manager Jim Chanos of Kynikos Associates think it could be lower. Specifically, his firm calculates that net reserves could be around $1.7 trillion. china foreign reserves chart (Business Insider; Data source: Kynikos Associates) Another interesting factor is that China has tried really hard to get people to stop looking at the yuan in comparison to the dollar. It announced that it would peg the yuan to a basket of currencies. The problem is that no one cares. It's still a dollar-yuan world, and in that world a yuan slide against the dollar breaking a psychological threshold, like 7 yuan to $1, has consequences. Peking University Professor Christopher Balding wrote a great post about this earlier this week: "Ultimately, of course, the only way to break free of the dollar is to accept a floating currency without capital controls. The government shows no appetite for the volatility this would entail, not least because in the short run, downward pressure on the yuan would prompt even larger outflows. But cosmetic changes to a basket of currencies — most of which don't even trade with the renminbi — are no substitute." Until this is resolved, currency will continue to slip through the government's fingers, no matter how it tightens its grip. NOW WATCH: WWE CMO: The most valuable lesson Vince McMahon taught me about business More From Business Insider At least 5 dead, dozens injured after mass shooting at Florida's Fort Lauderdale-Hollywood airport Bitcoin is still dropping Former CIA director James Woolsey has split with Trump, 'effective immediately' || Bitcoin plunges as much as 20 percent as Chinese yuan soars: By Jemima Kelly LONDON (Reuters) - A dramatic rally in digital currency bitcoin came to a spectacular end on Thursday with a plunge of up to 20 percent as China's yuan rose sharply - further evidence of an intriguing inverse relationship between the pair. Bitcoin had gained more than 40 percent in two weeks to hit a three-year high of $1,139.89 on Wednesday, just shy of its all-time record of $1,163 on the Europe-based Bitstamp exchange (BTC=BTSP). But it dived as low as $885.41 on Thursday as the yuan jumped by over 1 percent in offshore trading and headed for its strongest two-day performance on record. (CNH=D3) [CNY/] Chinese exchanges have reported high volumes of trading of the web-based "cryptocurrency" over the past year, during which time the yuan has shed almost 7 percent, its worst annual performance since 1994, while bitcoin has surged 125 percent, outperforming all other currencies for a second year in a row. Bitcoin can used for moving money across the globe quickly and anonymously, and operates outside the control of any central authority. That makes it attractive to those wanting to get around capital controls, such as in China, and also to investors who are worried about a devaluation in their currency. "Given that the yuan's weakness over recent months seemed to correlate with bitcoin's strength more than any other currency, it's no surprise that bitcoin traders have reacted the way they have to the yuan's sudden strength today," said Paul Gordon, co-founder of London-based Quantave, a firm seeking to make it easier for investors to access digital currency exchanges. Exchanges in China say they account for more than 90 percent of global bitcoin trading, which would help explain why a shift in Chinese demand would sharply affect the price. But many bitcoin experts say Chinese exchanges overstate their volumes in the digital currency, and attribute sharp moves to speculation by, for example, U.S.-based hedge funds. Some said bitcoin's fall was a natural reaction to the speed of its previous rise. It is still up more than 50 percent on three months ago, when it was trading at around $600, "If something goes up very rapidly...people make a lot of money, and at some point they’re going to want to sell, in order to realize their gains," said Marco Streng, CEO of bitcoin mining and trading firm Genesis Mining. By 1645 GMT (11:45 a.m. ET), bitcoin had recovered some of its earlier losses to trade down almost 15 percent on the day at around $950, still leaving it on course for its worst performance in a year. On some digital currency exchanges - of which there are dozens - bitcoin did reach record highs late on Wednesday. "Once we broke through the nominal all-time high, liquidity dried up - no shorts, no sellers, which means a volatile little bubble formed quickly," said Peter Smith, CEO of London-based Blockchain, the biggest bitcoin wallet-provider globally. "We are seeing the effects of that now as it breaks. It's still fairly thin trading volume though, so who really knows where it goes next." For a graphic on the bitcoin economy, clickhttp://fingfx.thomsonreuters.com/gfx/rngs/HONGKONG-BITCOIN/0100106X09S/BITCOIN%20ECONOMY%20T.jpg For a graphic on bitcoin exchange rates, clickhttp://fingfx.thomsonreuters.com/gfx/rngs/1/2097/4051/s3d90f04kz56.htm (Reporting by Jemima Kelly; Editing by Mark Trevelyan) || Bitcoin exchange BTCC: China hasn't said margin trading illegal: By Brenda Goh SHANGHAI (Reuters) - The head of Chinese bitcoin exchange BTCC on Thursday denied media reports that the central bank had ruled it was offering margin loans illegally, and he said the platform is operating normally. However, Chief Executive Bobby Lee told Reuters the company had stopped offering margin loans last week alongside competitors such as Huobi and OkCoin, after "discussions" with the People's Bank of China (PBOC). He gave no details. "No one has said that margin trading for bitcoin is illegal," Lee said. He said the media reports were "not based on any official documentation. So as far as I'm concerned, at this moment, we have not received any official documentation, verbal or written feedback from the PBOC with regards to their conversations with us over the last two weeks." The PBOC declined to comment. Beijing Youth Daily, a state-run newspaper, said on Thursday that a PBOC investigation found that China's three largest bitcoin exchanges were illegally conducting margin trading, and such activity stoked abnormal market volatility. Another state-owned media, Economic Information Daily, said that the Shanghai branch of China's central bank had found "hidden risks" in BTCC. SPOT CHECKS On Jan. 11, the central bank launched spot checks on BTCC, Huobi and OkCoin to look into a range of possible rule violations, amid increasing government efforts to stem capital outflows and relieve pressure on the yuan currency. 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. Late on Wednesday, after some Chinese media reports were published, the price of bitcoin fell nearly 8 percent on the BTCC exchange to 5,724 yuan, equivalent to around $835. By Thursday, the price had recovered to around 6,120 yuan. Spokeswomen for OkCoin and Huobi confirmed to Reuters that their platforms had also stopped offering margin loans, but both did not respond to queries on whether they had received official notices from the PBOC. Story continues Lee of BTCC also said the exchanges had discussed introducing trading fees and were open to that, but said the regulator might have to get involved before this could happen. The absence of trading fees has encouraged volumes and boosted demand at the Chinese bitcoin exchanges. (Reporting by Brenda Goh; Editing by Richard Borsuk) || 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) || 10 things you need to know before the opening bell: (General view of a fan with Jamie Vardy masks on the seats before the match.Reuters/Reuters Staff) Here is what you need to know. Dow 20,000 is in the crosshairs.The Dow Jones Industrial Average booked a fractional gain on Tuesday, finishing at 19,945.04. The index is set to open higher by 0.1% near 19,971. Bitcoin is up again.The cryptocurrency is up about 3% at $958, and trading at its best level since November 2013. Bitcoin has gained $135, or 16.4%, over the past week. Toshiba crashes after warning of a multi-billion dollar writedown.Shares of thechips-to-construction group tumbled 20% on Wednesday after the company warned it might need to take a larger than expected writedown on its acquisition ofChicago Bridge & Iron. Delta cancels an order from Boeing.Delta Air Lines has canceled an order for 18Boeing widebody 787 Dreamliner jets, with a list price of $4 billion, that was inherited from its takeover of Northwest Airlines, the Seattle Times says. BP is buying gas stations in Australia.The London-based oil giant has agreed to pay $1.3 billion for Woolworths' 527 retail fuel outlets in Australia, according to Bloomberg. Qualcomm got hit with an $854 million fine by South Korea.TheKorea Fair Trade Commission, South Korea's antitrust regulator, has ruled that Qualcomm hindered competition as a result of itsbusiness practices of patent licensing and smartphone modem chip sales, Reuters reports. Panasonic is investing in a Tesla production facility.Panasonic will invest $256 million in a Tesla production facility that makesphotovoltaic (PV) cells and modules, Reuters reports. CEO pay is rising in the UK, but "economic profit" isn't.A report released by the CFA Institute showed CEO pay in the UK has climbed 82% in the last 13 years, but the average company generated less than a 1% return for investors. Stock markets around the world are up.Hong Kong's Hang Seng (+0.8%) paced the gains overnight and Britain's FTSE (+0.4%) leads in Europe. US economic data trickles out.Pending home sales will be released at 10 a.m. ET. The US 10-year yield is unchanged at 2.56%. More From Business Insider • Alt-right movement descends into civil war after leading figure is booted from Trump inauguration event • 'Star Wars' actress Carrie Fisher is dead at 60 • Here's a super-quick guide to what traders are talking about right now || Why China’s central bank fears bitcoin: It was only one week ago that the price of the digital currency bitcoin hit a new all-time high of $1,130. Now the price has fallen precipitously, and was hovering around $800 on Thursday afternoon. The reason is China. The People’s Bank of China (PBOC) said on Wednesday that it plans regular on-site inspections of the leading Chinese bitcoin exchanges, including BTCChina, Huobi, and OKCoin. This came after PBOC officers in Beijing visited the offices of Huobi and OKCoin, and PBOC officers in Shanghai visited the offices of BTCC, for checkups that, “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,” as Reuters translated the PBOC statement. The price of bitcoin fell sharply on the news. Bitcoin price so far in 2017. (via Coindesk) Five days earlier, the PBOC issued press releases, in Beijing and Shanghai, that contained a more general warning about bitcoin. The releases recirculated a government statement from back in 2013 stating that the Chinese government does not recognize bitcoin as a currency, and that it carries investment risk. The price of bitcoin fell 12% in the aftermath, but then recovered. It was climbing back when the PBOC announced its inspections on January 11, sending the price down again, as much as 15% at one point. The PBOC did not say bitcoin is illegal, or expressly tell Chinese citizens they cannot buy bitcoin. But clearly, China’s central bank is stepping up its public war on bitcoin. Why? Bitcoin is frequently thought to be an uncorrelated asset to the broader global market—that is, its trading price is not tied to stocks. (In that way it has been compared to gold .) Speculators see bitcoin as a “safe haven” investment for two scenarios: tightened capital controls, and general market uncertainty. At the moment, investors in China see both of those happening: The PBOC cracked down with stricter capital controls in 2016, and the price of the yuan has fallen 5% against the dollar over the past 12 months. Story continues Chinese authorities have taken note of the move toward bitcoin, and they are trying to throw cold water on the coin in order to tamp down capital outflows and help the yuan. Will it work? It clearly affected prices, but bitcoin has regular price hikes and falls, and it has fallen much farther than this before—usually after a reported hack of a major bitcoin exchange, like the bitcoin “flash crash” in 2013 after the fall of Mt. Gox. The price already appeared to be climbing back on Thursday, after hitting a low around $760. And the price is still up 87% in the past 12 months, and 246% in the past two years. The latest two actions by the PBOC aren’t the damaging blow that some news outlets are making them out to be. The first was simply a warning that bitcoin is volatile. That’s true (though it has been less volatile over the past two years), as one of the targeted exchanges, BTCC, acknowledged in a muted public response to the PBOC release: “The press release put forth from the PBOC today outlines that there is significant volatility in bitcoin trading… bitcoin is a virtual good and doesn’t have legal tender status.” The second was just an indication China will watch bitcoin companies more closely. In fact, BTCC CEO Bobby Lee t old Coindesk , “We’re now working closely with the government about what makes a healthy market… We’ve been trying to get their attention for years.” Make no mistake: China is the most important market for bitcoin prices. During the price ride at the end of 2016 and in the first week of 2017, more than 90% of trading volume was coming from China. Positive sentiment toward bitcoin among Chinese investors is crucial to a high bitcoin price. And while China’s central bank succeeded this week in bringing bitcoin back down to earth, it is very unlikely that Chinese bitcoin buyers have been turned off for good. Here’s what to expect next, although it could take a few years: the Chinese government will likely begin regulating the major bitcoin companies there, and making them go through licensing hurdles. That may turn out to be good for the price. That’s what happened in the U.S. in 2013, when the government began to regulate and license bitcoin companies as “money transmitters”: the price rallied thanks to regulatory clarity. “If the end result is there’s actually kind of some legitimacy around regulation of this in China, then I actually think the market rallies,” says Jeremy Allaire, CEO of the peer-to-peer payments company Circle . “It will be very interesting to see if the outcome of the People’s Bank of China examining [bitcoin exchanges] leads to new guidance, new rules. Even if there’s enforcement actions, the result and output might actually be more legitimacy.” — Daniel Roberts is a writer at Yahoo Finance, covering technology and sports business. Follow him on Twitter at @readDanwrite . Read more: Bitcoin is becoming the new gold Expect more blockchain hype in 2017 Here’s 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 || Facebook, Amazon, and Google Have Rebounded from Donald Trump Dump: Donald Trump hasn’t declawed the FANG stocks for good, it seems. Stock market investors have recently been caught up in a rally that has become known as theTrump Bump: Stocks have mostly zoomed forward since Trump won the election, putting the Dow Jones industrial averagewithin striking distance of 20,000 for the first time ever. But there are some notable companies that experienced more of a Trump Dump. That seems to be changing in the early days of 2017. The Nasdaq has risen nearly 3% in the first five trading days of this year, outpacing both the Dow, up only about 0.7%, and the S&P 500, up 1.5%. Indeed, the Nasdaq was the only major U.S. stock index to rise Monday, setting a new record high for the third trading day in a row. The reasons: A number of technology companies that were among some of investors’most hatedstocks in 2016, especially since Trump became president elect, have recently been on a rapid rebound, including Facebook , , , and . The group of so-called FANG stocks all fell in the wake of Trump’s election late last year (with Facebook stock down more than 7%), leading some high-profile investors such as DoubleLine CEO Jeffrey Gundlach toswear them off entirely. Now, however, all four companies have more than recovered their post-Trump losses. Facebook stock has already gained nearly 9% in 2017, while shares of Amazon and Netflix are both up more than 6%. Google’s stock is up almost 5% so far this year. They’re not alone. Nasdaq stocks including Tesla and Yahoo have also kicked off 2017 strong, with Tesla shares returning nearly 8% and Yahoo stock up more than 7%. Chinese tech giant Baidu , also listed on the Nasdaq, has gained more than 8% so far this year. It’s hard to say exactly why the FANG stocks and other tech companies have bounced back so forcefully in early 2017, or if the trend will continue. After all, January stock performance hasrecently been a poor indicatorof how the market will act for the rest of the year. For now, investors may simply be hoping that President Trump won’t be asbad for tech companiesas some had expected. Facebook, for one, has already taken steps toaddress concerns over fake newsstories that had hurt the tech stock following Trump’s election. Still, it isn’t simply a reversal of behavior among stocks that had surged or sank after the November election. stock, which fell after Trump won, has fallen slightly further in 2017. And stock, thebig winner of the Trump rally, is still rising. But as least for now, investors are biting into technology FANG stocks once again. See original article on Fortune.com More from Fortune.com • President Obama Was Officially Terrible For Hedge Funds • Microsoft and Qualcomm Are Backing This Israeli Security Startup Studio • Here's Why Bitcoin's Price Continues to Plunge • How a China Crackdown Caused Bitcoin's Price to Plunge • Verizon Is Still on the Fence About the Yahoo Deal || 10 things you need to know before the opening bell: (A fisherman from India at the window of a train at Cantonment railway station in Karachi, Pakistan, after he was released with others from a prison.Reuters/Akhtar Soomro) Here is what you need to know. US Markets are back from Christmas break.Markets are set to open little changed, with the Dow Jones Industrial Average hovering near 19,935. The US 10-year yield is higher by 2 basis points at 2.56%. China is home to the world's hottest housing market.Home prices in Nanjing, China, are up 42.9% year-over-year in the third quarter, making it the world's hottest housing market, according to data from the property consultancy and estate agency Knight Frank. Consumer prices fell in Tokyo.Prices slumped 0.6% year-over-year, making for the biggest drop since February 2013. The Japanese yen is weaker by 0.2% at 117.31 per dollar. A Harvard graduate has been named as a vice governor at the PBoC.Yin Yong, who holds a master's degree in public administration from Harvard University, was named vice governor at the People's Bank of China. Bitcoin is charging higher.The cryptocurrency is higher by 1.6% at $912 and is trading at its best level in three years. Monte Paschi needs cash.The debt-ridden Italian bank needs 8.8 billion euros ($9.2 billion) to strengthen its balance sheet, Reuters reports, citing two sources close to the matter. Toshiba might take a huge write-down on its nuclear acquisition.Toshiba may need to take several billion dollars' worth of losses related to its acquisition of Chicago Bridge & Iron, which Westinghouse says owes it more than $2 billion, Reuters reports. Tepco is considering a bond sale.Tokyo Electric Power Company is considering its first bond offering since its 2011 nuclear disaster, Reuters reports, citing people familiar with the plans. Stock markets around the world are quiet.China's Shanghai Composite (-0.2%) slipped in overnight trade, and Germany's DAX (+0.2%) leads in Europe. Markets remained closed in Australia, Hong Kong, and the UK. US economic data flows.Case-Shiller home prices will be released at 9 a.m. ET, and consumer confidence will cross the wire at 10 a.m. ET. More From Business Insider • Israel has reportedly suspended ties with 12 UN Security Council nations • Republicans have a massive plan to overhaul the tax code — here's how it would work • Here's a super-quick guide to what traders are talking about right now || Bitcoin firm gets approval to operate in Switzerland: By Brenna Hughes Neghaiwi ZURICH (Reuters) - Bitcoin wallet provider Xapo said it has received conditional approval from Switzerland's financial market watchdog to operate in the country in a regulatory breakthrough for companies that provide safekeeping for the virtual currency. "After almost two years of substantial effort and investment, Xapo has received conditional approval from the Swiss Financial Market Supervisory Authority (FINMA) to operate in Switzerland," Xapo CEO Wences Casares said in a blog on the company's website. The approval depended on several factors, including membership of a "self-regulatory organization", Casares said, but added that the company was optimistic of meeting the conditions and being able to serve non-U.S. customers from Switzerland. FINMA declined to comment on an individual company's status. Olga Feldmeier, a former managing partner of Xapo who coordinated the Swiss licensing process for the company, told Reuters that Xapo had been designated a financial intermediary, meaning it will not require a costly banking license. Wallet providers like Xapo, which was founded in Silicon Valley, store the private keys that allow clients to access their digital currency funds. While other crypto-currency firms already operate in Switzerland, Xapo's operation as a bitcoin wallet provider had raised questions over whether it required a banking license. A burgeoning industry surrounding bitcoin - a web-based "crypto-currency" that has no central authority, relying instead on a global network of computers that validate transactions and add new bitcoins to the system - has posed questions for lawmakers and regulators. Xapo argued it did not accept deposits. Swiss authorities are eager to secure a leading role for Switzerland while playing catch-up in a rapidly changing financial technology (fintech) landscape. Bitcoin Suisse operates a network of bitcoin ATMs across the country, as well as an online and in-person brokerage for buying and selling bitcoins. But it does not itself store the private access keys that led to questions about whether Xapo was taking deposits. Story continues Switzerland's cabinet in November proposed new light-touch regulations for fintech companies aimed at bolstering business and competitiveness. The proposals include a fintech license, granted by FINMA, for institutions which are restricted to taking deposits of up to 100 million Swiss francs ($99.9 million) and do not lend. Xapo is now in the process of joining a self-regulatory organization required under Swiss anti-money laundering regulations to begin operations, Feldmeier said. (Editing by Adrian Croft) [Random Sample of Social Media Buzz (last 60 days)] China's Bitcoin Drama Isn't A Financial Meltdown - Forbes http://dlvr.it/NPhQlJ  || $1182.22 at 02:00 UTC [24h Range: $1120.73 - $1193.92 Volume: 12522 BTC] || One Bitcoin now worth $1020.00@bitstamp. High $1031.94. Low $1005.00. Market Cap $16.470 Billion #bitcoin pic.twitter.com/tlRQjuHz3P || #TheMerkle 5 Common Misconceptions About #Bitcoin http://ift.tt/2lTMApy  @themerklenewspic.twitter.com/g2KXgK7JLz || Bitcoin - BTC Price: $1015.27 Change in 1h: +0.04% Market cap: $16412740094.0 Ranking: 1 #Bitcoin #BTC || Bitcoin Price Watch; That’s A Wrap! http://bit.ly/2lr2vhN  || Bitcoin Community Alert: How Scammers Monetize Traders’ Fears and Greed http://dlvr.it/NPThlq pic.twitter.com/9XoMRdjAhr || #CT_index Read fresh articles about #Bitcoin & #Ethereum price here: http://ift.tt/2lRHOIS  https://twitter.com/i/web/status/832142462311419904 … || $1116.40 #bitfinex; $1109.26 #itBit; $1113.00 #bitstamp; $1116.25 #GDAX; $1087.80 #btce; Bitcoin Mining: http://bitly.com/2kmoC9o  || China's BTCC Becomes Latest Bitcoin Exchange to Freeze Withdrawals http://dlvr.it/NP8St3 pic.twitter.com/9VFHth613B
Trend: up || Prices: 1143.84, 1165.20, 1179.97, 1179.97, 1222.50, 1251.01, 1274.99, 1255.15, 1267.12, 1272.83
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)] How to avoid the massive WannaCry ransomware attack: On Friday a major piece of malware hit the web, and throughout the weekend infected hundreds of thousands of computers, taking down everything from businesses to the U.K.’s National Health Service. The software, dubbed WannaCry 2.0, is what’s known as ransomware. A type of malware that burrows into your computer, ransomware encrypts the files on your machine, keeping you from being able to access them. The malware’s creator then asks that you to pay a fee to unlock your data. The first round of the WannaCry 2.0 attack seems to have passed. But chances are the creator, or some other hacker, will repurpose the malware and send it back into the wild again. Here’s how can you avoid this software, and what can you should if your machine is infected. The biggest tip I can give you is to simply keep your computer’s software updated. And of course, never pay these ransoms. Let’s start with the basics. A particularly nefarious form of malware, ransomware is a piece of software criminals use to lock you out of your computer by encrypting its files and holding them for ransom for a specific dollar amount. WannaCry 2.0 uses a vulnerability in Microsoft’s(MSFT)Windows operating system to attack users’ computers. The vulnerability was originally made public when a hacking group released the exploit online, claiming to have stolen software exploits from the National Security Agency. If your machine is infected, and you don’t pay up, you can potentially say goodbye to your photos, tax documents, pay stubs, and any other documents you’ve saved throughout the years. This isn’t some idle threat, either. If you don’t pay, your documents will disappear or simply stay locked up until you completely reformat your system. Ransomware programs sometimes require you to pay in Bitcoin, an anonymous currency that can’t be tracked. However, criminals have increasingly begun demanding payment in the form of iTunes or Amazon gift cards, since the average person doesn’t know how to use Bitcoin, according to McAfee’s Gary Davis. The amount you have to pay to unlock your computer can vary, with some experts saying criminals will ask for up to $500. To be clear, ransomware doesn’t just target Windows PCs. The malware has been known to impact systems ranging from Android phones and tablets to Linux-based computers and Macs. According to Davis, ransomware was actually popular among cybercriminals over a decade ago. But it was far easier to catch the perpetrators back then since anonymous currency like Bitcoin didn’t exist yet. Bitcoin helped changed all that by making it nearly impossible to track criminals based on how victims pay them. There are multiple types of ransomware out there, according to Chester Wisniewski, a senior security advisor with the computer security company Sophos. Each variation is tied to seven or eight criminal organizations. Those groups build the software and then sell it on the black market, where other criminals purchase it and then begin using it for their own gains. Ransomware doesn’t just pop up on your computer by magic. You actually have to download it. And while you could swear up and down that you’d never be tricked into downloading malware, cybercriminals get plenty of people to do just that. Here’s the thing: That email you opened to get ransomware on your computer in the first place was specifically written to get you to believe it was real. That’s because criminals use social engineering to craft their messages. For example, hackers can determine your location and send emails that look like they’re from companies based in your country. “Criminals are looking are looking up information about where you live, so you’ll click (emails),” Wisniewski explained to Yahoo Finance. “So if you’re in America, you’ll see something from Citi Bank, rather than Deutsche Bank, which is in Germany.” Cybercriminals can also target ransomware messages to the time of year. So if it’s the holiday shopping season, criminals might send out messages supposedly from companies like the US Postal Service, FedEx or DHL. If it’s tax time, you could receive a message that says it’s from the IRS. Other ransomware messages might claim the FBI has targeted you for using illegal software or viewing child pornography on your computer. Then, the message will tell you to click a link to a site to pay a fine — only to lock up your computer after you click. It’s not just email, though. An attack known as a drive-by can get you if you simply visit certain websites. That’s because criminals have the ability to inject their malware into ads or links on poorly secured sites. When you go to such a site, you’ll download the ransomware. Just like that, you’re locked out of your computer. Ransomware attacks vulnerabilities in outdated versions of software. So, believe it or not, the best way to protect yourself is to constantly update your operating system’s software and apps like Adobe Reader. That means you should always click that little “update” notification on your desktop, phone, or tablet. Don’t put it off. Beyond that, you should always remember to back up your files. You can either do that by backing them up to a cloud service like Amazon(AMZN)Cloud, Google(GOOG,GOOGL)Drive or Apple’s(AAPL)iCloud, or by backing up to an external drive. That said, you’ll want to be careful with how you back up your content. That’s because, according to Kaspersky Lab’s Ryan Naraine, some ransomware can infect your backups. Naraine warns against staying logged into your cloud service all the time, as some forms of malware can lock you out of even them. What’s more, if you’re backing up to an external hard drive, you’ll want to disconnect it from your PC when you’re finished, or the ransomware could lock that, as well. Naraine also says you should disconnect your computer from the internet if you see your system being actively encrypted. Doing so, he explains, could prevent all of your files that have yet to be encrypted from being locked. Above all, every expert I spoke with recommended installing some form of anti-virus software and some kind of web browser filtering. With both types of software installed, your system up to date, and a backup available, you should be well-protected. Oh, and for the love of god, avoid downloading any suspicious files or visiting sketchy websites. Even if you follow all of the above steps, ransomware could still infect your computer or mobile device. If that’s the case, you have only a few options. The first and easiest choice is to delete your computer or mobile device and reinstall your operating system. You’ll lose everything, but you won’t have to pay some criminal who’s holding your files hostage. Some security software makers also sell programs that can decrypt your files. That said, by purchasing one, you’re betting that it will work on the ransomware on your computer, which isn’t always the case. On top of that, ransomware makers can update their malware to beat security software makers’ offerings. All of the experts agree that the average person should never pay the ransom — even if it means losing their files. Doing so, they say, helps perpetuate a criminal act and emboldens ransomware makers. Even if you do pay up, the ransomware could have left some other form of malware on your computer that you might not see. In other words: Tell the criminals to take a hike. More from Dan: • Microsoft is setting itself apart from Apple in a big way • Microsoft declares war on Amazon’s cloud services • How a new Microsoft prototype has given a woman with Parkinson’s a crucial ability • How Microsoft’s Cortana is taking on Amazon’s Alexa • How to delete your data from your old devices • Warren Buffett: AI is good for society but ‘enormously disruptive’ Email Daniel [email protected]; follow him on Twitter at@DanielHowley. || Yes, Some Businesses Still Run Microsoft’s Much-Maligned Windows Vista: A new survey shows that a sizable percentage of businesses are still running Vista, the problem-plagued version of Windows that launched 10 years ago and Microsoft stopped supporting as of this week. Some 9% of companies surveyed by business software maker Spiceworks are still running at least one instance of Windows Vista. More striking is that more than half of the businesses surveyed--52%--have at least one PC running Windows XP, an even older, albeit more respected, version of Windows. ended support of Windows XP, which debuted in 2001, in 2014. Other Spiceworks data reveals Windows XP is running on 14% of all business PCs worldwide. Windows Vista has much lower penetration there, running on just 1% of the PCs tallied. Meanwhile, eight-year old Windows 7 runs a whopping 69% of all business PCs worldwide. Get Data Sheet , Fortune 's technology newsletter. The figures come from Spiceworks’s recent 2017 OS Adoption Trends report, which examined anonymized data collected from “hundreds of thousands” of IT professionals who use Spiceworks software to manage their networks. The company supplemented that by surveying 461 information technology professionals. A whopping 90% of those surveyed said they worry about the risks posed by the use of old, unsupported operating systems which are easier to attack and more susceptible to malware. That puts both corporate and personal data at risk. It’s hardly unusual for people to put off upgrading their software. One reason is that change is hard and disruptive. Updates of one product can break other products. Another reason is that upgrades cost companies--and their employees--money and time. But the risks of failing to update operating systems (or other software) are real. Stats like these are fodder for Microsoft , which is always pushing users to get up to date. Last year, other Spiceworks research showed that the current Windows 10 release had been adopted by 54% of organizations surveyed, up from 38% last July. Windows 10 launched in July 2015. Story continues See original article on Fortune.com More from Fortune.com These Investors Bought the Firm Behind Bitcoin's Self-Proclaimed Inventor Google Home Can Now Track Flight Prices FCC Could Announce Broadcaster Auction Results on Thursday Amazon Is Opening Up This Echo Feature to Other Manufacturers One of Twitter's Top Engineers Left the Company Last Month || IRS Probe of Bitcoin Goes Too Far, GOP Warns: A closely-watched fight between the Internal Revenue Service and a popular bitcoin exchange took a new twist last week, as senior Republicans in Congress sent a sharply-worded letter that suggests the tax agency is overstepping its powers. The letter concerns an IRS investigation into possible tax evasion by customers who use Coinbase, a San Francisco-based company that many people use to buy digital currencies. As part of the investigation, which began last year, officials demanded that Coinbase turn over information for every one of its accounts. Coinbase and its customers are currently in court trying to block the demand, saying it’s too broad, and now the letter from the Republicans is likely to give them extra ammunition. “The summons is estimated to affect 500,000 active Coinbase customers and would result in the production of millions of pages of associated records, many of which contain personally identifiable information … Based on the information before us, this summons seems overly broad, extremely burdensome, and highly intrusive to a large population of individuals ,” says the letter, which is signed by Sen. Orrin Hatch (R-Ut), Chairman of the Senate Finance Committee, and by Vern Buchanan and Kevin Brady, who head the House Committee on Ways and Means. (my emphasis) Get Data Sheet , Fortune 's technology newsletter. The Republicans’ concerns echo those of Coinbase and its customers, who argue the IRS does not need every single Coinbase account to carry out its audit, and that the investigation sweeps in people who have clearly done nothing wrong. The tax agency, for its part, has pointed out that only 802 Coinbase users filed a tax form related to bitcoin in 2015, which suggests large number of people have failed to declare capital gains related to bitcoin. The IRS investigation also comes at a time when the price of bitcoin has been on an incredible tear, climbing from $13 in 2013 to a new high of over $2,000 last week. Those who profited from the higher prices--either by selling bitcoin for dollars or exchanging it for merchandise--are required to pay taxes on the gain. Story continues Some Coinbase customers, however, have not sold any bitcoin at all while many others hold only a minimal amount, raising questions of why the IRS demanded information about every account. One theory, according to a lawyer who spoke with Fortune late last year, is that the IRS’s sweeping demand is a negotiating tactic to make Coinbase more cooperative, and that the two sides will reach an agreement to allow the agency to inspect some, but not all, of the accounts. The letter from the Republicans, which asks the IRS to explain its strategy for enforcing tax payments on digital currency by June 7, is likely to put pressure on the agency to come to a deal with Coinbase. See original article on Fortune.com More from Fortune.com Meet EternalRocks, WannaCry's Scarier Successor 3 Reasons Why Bitcoin Broke $2,000 Bitcoin Hit Another Record and It's Gained Almost $4 Billion Just This Week Bitcoin's Murkier Rivals Line Up to Displace it as Cybercriminals' Favorite Why Bitcoin's Price Has Been Surging and Where It Could Go From Here || Disney's Iger says hackers claim to have stolen upcoming movie - Hollywood Reporter: (Reuters) - Walt Disney Co (DIS.N) Chief Executive Bob Iger has revealed that hackers claimed to have access to an unnamed upcoming movie and have demanded a ransom, the Hollywood Reporter said on Monday. Iger made the comments during a town hall meeting with ABC employees in New York City, the Hollywood Reporter said, citing multiple sources. The hackers have demanded that a huge sum be paid on Bitcoin, but Disney has refused to pay, the publication said. Disney was not immediately available for comment. (Reporting by Anya George Tharakan in Bengaluru; Editing by Sriraj Kalluvila) || Here's why Ford is panicking in self-driving cars: Alphabet is years ahead of everybody: The recent CEO shuffle at Ford (NYSE: F ) suggests it's getting serious about self-driving cars: On Monday, it promoted its head of "Smart Mobility," Jim Hackett, to the CEO role. But statistics show that Ford -- and every other car maker -- is way behind Waymo, the self-driving car unit of Google parent Alphabet ( GOOGL ) , when it comes to testing autonomous cars on real roads. In the year that ended on Nov. 30, 60 Waymo cars drove more than 635,000 miles in autonomous mode on public roads in California. Ford's cars -- a pair of Fusion hybrid sedans -- went just 590 miles, according to documents on file with the California Department of Motor Vehicles. But what's even more significant is how much farther Waymo cars can go before a human driver has to take over. For Waymo, one of these so-called disengagements happened, on average, every 5,127 miles. The Ford cars went 196 miles before a disengagement. Ford might have better numbers to show as it drives more miles, but for now the Waymo cars do appear to be more stable. These statistics are admittedly six months out of date -- the companies haven't reported since then -- and Ford is also testing self-driving cars in Michigan. But the fact that Waymo has driven more than 1,000 times as many self-driving miles in California is an indication of how long Alphabet (and previously Google) have been seriously tackling the problem. The other car makers are similarly behind. Here's a snapshot of the data from the documents: Waymo: 635,867 miles driven, 5,127 miles/disengagement GM/Cruise: 9,668 miles driven, 34 miles/disengagement Nissan: 4,099 miles driven, 28 miles/disengagement Bosch: 983 miles driven, 0.6 miles/disengagement Mercedes: 673 miles driven, 2 miles/disengagement BMW: 638 miles driven, 638 miles/disengagement Ford: 590 miles driven, 196 miles/disengagement Tesla: 550 miles driven, 3 miles/disengagement Small wonder financial analysts are excited about the Alphabet opportunity. On Tuesday Morgan Stanley issued a note suggesting that Waymo could be worth more than $70 billion by 2030 . The number of miles driven represents a key factor in the analysts' calculation of that figure. Story continues Last week alternative cab service Lyft -- which has its own self-driving car fleet -- said it would work with Waymo on autonomous driving. That deal will surely benefit Waymo. As a spokesperson told the New York Times , it will "help Waymo's self-driving technology reach more people, in more places." Given that Ford is so far back in Waymo's rear-view mirror, Ford might well move to sign similar deals with partners in an effort to gain more autonomous driving experience. It could also push many more cars onto public roads. The company has given itself some time to improve. Last year Ford said it aimed to have an autonomous vehicle available for ride sharing by 2021. Watch: Full interview with Bill Ford on the change at the top More From CNBC Bitcoin may have doubled this year, but rival Ethereum is up 2,000%. Here's why Start-up training experts to help people figure out what genetic tests mean Silicon Valley VCs are tripping over themselves to hire biotech experts || 3 Market Surprises Impacting ETFs: Predicting market action is fraught with challenges. Often the market takes unexpected turns, delivering investors with surprising ETF performances. So far this year, there have been a few “surprises” worth noting. Volatility Is Very, Very Low So far in 2017, market volatility has been historically low any way you measure it. The CBOE VIX Index is sitting below the 10 mark—a level that’s lower than 99%-plus of all its closing prices since 1990, according to ConvergEx’s Nick Colas. That it’s so low has people wondering whether it could actually go to zero. CBOE’s head Ed Tilly says it cannot, by the way. (CBOE owns ETF.com’s parent company, Bats Global Markets.) If you measure volatility from the perspective of the S&P 500, we should have already seen at least 19 days of 1%-or-wider moves so far in 2017, based on historical norms, Colas says. But year-to-date, the S&P 500 has only moved 1% or more in just three days. “It’s not your imagination. U.S. equity markets are much calmer than usual,” Colas said. These are definitely strange days. From an ETF perspective, there are 19 volatility exchange-traded products on the market today. Most of them are either leveraged or inverse, but the biggest of these strategies is not. The iPath S&P 500 VIX Short-Term Futures ETN (VXX) , with $820 million in assets, tracks an index with exposure to futures contracts on the VIX with average one-month maturity, and exposure resets daily. VXX is down more than 45% year-to-date, bringing its one-year results to a loss of more than 77% in 12 months. Despite the decline, investors have poured $163 million in fresh net assets into this exchange-traded note so far in 2017. “The upshot is that actual U.S. equity market volatility should begin to rise (at least modesty) in the coming weeks,” Colas said. “If you buy our construct that volatility follows cycles, then we should be at the trough of one right now. That should cause a pullback in stocks, but it does not portend a subsequent meltdown or melt-up, for that matter.” Story continues 10-Year Treasury Yields Are Falling, Not Rising Following the U.S. presidential election last fall, many market pundits were calling for higher U.S. Treasury yields, and at least through March of this year, that seemed to be the trajectory we were on. J.P. Morgan , for example, projected 10-year Treasury yields to hit 2.85% by the end of 2017 amid two or three Federal Reserve rate hikes, “less accommodative” bank policy and a deteriorating fiscal balance. That would amount to a 16% increase in yields from levels seen at the end of 2016. And for a while, that forecast—similar to many others—was spot-on, as 10-year yields rose as high as 2.60% by mid-March. The Federal Reserve’s decision to raise rates and the twists and turns of the new administration were helping push yields higher. But since then, yields plummeted to a low of 2.18% in April, and are now hovering around 2.40%, at levels lower than at the end of 2016. In the ETF space, a look at the performance of the iShares 7-10 Year Treasury Bond ETF (IEF) and the iShares 20+ Year Treasury Bond ETF (TLT) show just how much the Treasury market has turned course in recent weeks (see chart below). Investors have not bailed on TLT, but have instead poured more than $1.2 billion into the fund so far this year, and nearly $150 million in IEF. Bitcoin Prices At Record Highs Despite ETF Rejection Everyone was waiting for the Securities and Exchange Commission to decide whether to approve the market’s first bitcoin ETF, the Winklevoss Bitcoin Trust (COIN). The idea was that a “yes” from regulators would translate into massive bitcoin demand, bringing retail and institutional investors into the bitcoin fold for the first time. Prices would rise. But the SEC said no, rejecting COIN . Those massive inflows never materialized because the ETF never launched. So bitcoin prices, everyone thought, should drop as a result. And prices did fall initially—but only initially. They have since rallied to a record highs, hitting $1,700, and climbing about 90% year-to-date. That rally has been picking up pace in recent weeks. ETF investors don’t have a clear vector into bitcoins yet, except for very small allocations in the Web X.0 ETF (ARKW) and the Ark Innovation ETF (ARKK) . Each ETF accesses bitcoin through the Bitcoin Investment Trust (GBTC), with an allocation of about 4% each. GBTC is up 82% so far in 2017, helping drive gains in both these technology funds, which have had a stellar run so far this year. Chart courtesy of StockCharts.com Contact Cinthia Murphy at [email protected] Recommended Stories Brazil ETFs Crumble Under Latest Scandal New Giant Among Emerging Market ETFs 3 Market Surprises Impacting ETFs Measuring Smart Beta ETF Performance First US Listed European Volatility ETNs Launch Permalink | © Copyright 2017 ETF.com. All rights reserved || 10 things you need to know before the opening bell: (A roller skater on Reforma avenue in Mexico City.AP/Marco Ugarte) Here is what you need to know. Trump's budget is out.The White House's 2018 budget calls for massive cuts over the next 10 years to social safety-net programs like Medicaid, food stamps, and the Children's Health Insurance Program while increasing the budget for the Department of Homeland Security and the Department of Defense. The British pound is slipping after the Manchester bombing.The pound trades down by 0.2% at 1.2972 against the dollar after an explosion following an Ariana Grande concert on Monday night killed at least 22 people while injuring more than 50. Greece still doesn't have a deal.A meeting between Greece and its creditors failed to iron out details of a new debt deal, with the International Monetary Fund reiterating its stance that any framework must grant debt relief, Reuters says. Eurozone growth holds at a 6-year high.Flash eurozone PMI held at a six-year high of 56.8 in May, with IHS Markit saying, "Job creation also perked up to one of the strongest recorded over the past decade amid improved optimism about future prospects." Bitcoin plunges and then recovers.The cryptocurrency fell by more than $300 a coin from Monday's record high of $2,298 before recouping its losses. Bitcoin now trades up by almost 2% near $2,190. Apple and Nokia settle their patent dispute.Apple will pay Nokia an undisclosed up-front cash payment and additional revenue, and the two sides agreed to collaborate further, Reuters says. Global smartphone sales jumped.The global smartphone market grew by 9.1% in the first quarter versus a year ago, but Apple and Samsung saw their market shares fall, TechCrunch reports, citing Gartner data. Stock markets around the world trade mixed.China's Shanghai Composite (-0.5%) lagged in Asia, and Germany's DAX (+0.4%) is out front in Europe. The S&P 500 is set to open up by 0.2% near 2,398. Earnings reporting is light.AutoZone and Toll Brothers are among the names reporting ahead of the opening bell. US economic data flows.US Markit PMIs will be released at 9:45 a.m. ET, and new-home sales will cross the wires at 10 a.m. ET. The US 10-year yield is down by 1 basis point at 2.25%. More From Business Insider • Guys, this is the one thing you need to keep your dress shirts clean • Scientists have found a way to photograph people in 3D through walls using Wi-Fi • 10 things you need to know today || Bitcoin miners have collectively earned more than $2 billion: An interior view of U.S. bitcoin mining company Bitfury's mining farm near Keflavik Bitcoin mining has become a multi-billion dollar industry. Bitcoin miners have collectively earned over $2 billion in revenue since the cryptocurrency was established in 2008, according to an estimate from a new report published by the Cambridge Centre for Alternative Finance. Nearly every way the United incident could have ended differently—in one flowchart Bitcoin mining is how transactions on the bitcoin network get processed. Transactions in bitcoin are bundled into “blocks,” and it’s the job of miners to confirm those blocks are legitimate. This happens when a miner successfully solves a cryptographic puzzle attached to each block, gaining a payout called the “block reward.” This payout halves every four years; the current reward is 12.5 bitcoins per block, or $15,350 at today’s prices. The twist is this: miners must compete with one another with greater computational power to solve the puzzle and win the payout. These incentives have led to a massive increase in complexity and need for computational power. In bitcoin’s early days, people mined the cryptocurrency on their home computers. Today, server farms of thousands of custom-designed machines around the world compete with one another to solve the puzzle first. Revenues generated by the bitcoin mining sector could be significantly higher, the report says. The estimate only accounts for revenues earned from block rewards and fees paid by bitcoin users for having their transactions processed. It doesn’t include revenue from selling mining equipment, or providing “cloud mining” services, which let subscribers share in block rewards for a fee, without having to operate their own equipment. United Airlines has exposed the moral dilemma behind rewarding customer loyalty Importantly, the estimate doesn’t account for capital gains from cashing out of bitcoin strategically, since the researchers assumed block rewards were immediately converted to US dollars. Those gains could be substantial, since bitcoin has been on a historic bull run . Story continues Transaction fees have historically been a small part of miners’ revenue, but they’ve shot up this year as the number of transactions gets closer to the bitcoin network’s limit. Users are willing to pay higher fees to ensure their transactions are processed by miners. The question of how to raise the limit is at the heart of the “ civil war ” that has divided the bitcoin world. As bitcoin adoption grows, miners are prospering. Read this next: Bitcoin’s civil war threatens to blow up the cryptocurrency itself Sign up for the Quartz Daily Brief , our free daily newsletter with the world’s most important and interesting news. More stories from Quartz: Choose your spouse wisely: Life advice for IIM-A grads from the chief of Axis Bank Here’s the best way to guess correctly on a multiple choice test || Tesla could be the next Amazon, says Gene Munster: Tesla (NASDAQ: TSLA) could be the next Amazon (NASDAQ: AMZN) , Gene Munster, co-founder and managing partner of Loup Ventures, told CNBC on Friday. The former Piper Jaffray tech analyst turned venture capitalist is best known for his accurate predictions on Apple (NASDAQ: AAPL) . Despite Amazon shares nearing the $1,000 milestone , a record high for the company, the investor says he likes Tesla better. "Tesla is a controversial story," Munster said on " Squawk on the Street ." "People don't understand what this company's mission statement is," he said. Much like Amazon in its early days when the company was 'just' selling books, he said. "Most people think of [Tesla] as an electric car company, but their mission statement is to accelerate the globe's transformation to renewable energy, " he said. "When you start thinking about that you can see them grabbing market cap from energy companies which are some of the largest market-cap companies," said Munster. Tesla's market capitalization was about $53 billion on Friday morning while Amazon's was nearly $475 billion. In the energy sector Exxon Mobil (NYSE: XOM) 's market cap was more than $345 billion. AMZN shares have risen by nearly 39 percent over the last year while TSLA has climbed by about 43 percent and XOM has dropped more than 9 percent. Elon Musk 's vision for Tesla will require a lot of capital but Munster says he thinks the company will get there. And while Amazon is the tech stock of the moment, there are limitations to its growth, he said. One of those limitations is maintaining market share. "I think obviously somebody buying the stock at $1,000, they're hoping it goes to $2,000 so I think the opportunity again is the market share in online, that's an increase and it would put Amazon at $1 trillion in revenue if they get to that," said Munster. In the cloud space Amazon Web Services is faced with increased competition which poses a real risk to the cloud portion of Amazon's business, he said. "The specific reason is Azure from Microsoft (NASDAQ: MSFT) is gaining share, and Google is making a big push within that ... so that's an area that Amazon had an early lead on but is not maintaining the same market share they had in retail," said Munster. Story continues Tesla on the other hand has few challenges and more opportunities, he said. "I'll give you one quick example, this race for batteries. There's a problem about just the elements of the copper and the nickel to build the batteries and they have procured some of that," said Munster. "If someone wants to build the batteries, they need financing to get there. I think the markets will give him that leverage to build this future," he said. "I would, pun intended here, buckle up. This is going to be a bumpy but positive ride for Tesla in the years to come." More From CNBC Bitcoin rival Ripple is sitting on many billions of dollars worth of currency GameStop shares tank despite earnings beat Bitcoin rival ethereum is headed for a 38% correction, analyst says || Quadruple Leveraged ETFs: SEC Has Second Thoughts: The U.S. Securities and Exchange Commission has been reluctant toward approving the first quadruple leveraged ETF. The SEC put off its recent decision to okay an exchange-traded fund that looks to offer four times the daily price changes of S&P 500 futures contracts, as per the source. The commission reportedly plans to review the initial verdict released earlier this month. With this, many expectedForceshares Daily 4x US Market Futures Long Fund(UP) andForceshares Daily 4x US Market Futures Short Fund(DOWN) to see the light of day soon. These two new products are designed to deliver 400% regular/opposite the daily performance of the S&P 500 (read: SEC Approves Quadruple-Leveraged ETFs). As per Reuters, the issues leading to the latest SEC review aren’t clear. However, excessive risks in the products can be a reason. Leveraged products are always meant for investors with a strong stomach for risks. A fund that provides 2x the exposure will rise by 2% if the benchmark increases by 1%. The opposite also holds true. If the index drops by 1%, the ETF will lose 2%. A quadruple approach can thus understandably be much riskier for investors(see: all the Leveraged Equity ETFs here). Investors should note that leveraged products are also suitable only for short-term traders as these are rebalanced on a daily basis. Notably, so long, up to triple-leveraged ETFs have been common in the investing world(read: An Investor's Guide to the 10 Most Popular Leveraged ETFs). At the current backdrop,ProShares Ultra S&P500 ETF SSO, which looks to track the daily investment results, before fees and expenses, corresponding to twice the daily performance of the S&P 500, has amassed the largest asset base of $1.89 billion. Notably, there is no shortage of leveraged ETFs tracking the S&P 500 with SSO,Direxion Daily S&P 500 Bull 1.25x SharesLLSP,Direxion Daily S&P 500 Bull 2x SharesSPUU,ProShares UltraPro S&P500 ETFUPRO andDirexion Daily S&P 500 Bull 3x SharesSPXL around. As per xtf.com, there are over 130 U.S.-listed leveraged ETFs with an aggregate market cap of $27.75 billion and average expense ratio of 1.17% (read: Bet on ETF Industry's Growth with This Fund). Other SEC Reconsiderations in Recent Times Not only quadruple leveraged ETFs, the SEC has adopted the same stance for bitcoin. Bitcoins are ‘mined’ by using a greater amount of computer processing power. After rejecting the filing for an ETF on this cryptocurrency by Winklevoss Bitcoin Trust, the SEC is reviewing its decision again. The proposal actually involved listing the ETF on the Bats BZX exchange, one of the largest U.S. equities market operators (read: No Bitcoin ETF Says SEC: What's Next?). Now that Bats’ petition to the SEC to reconsider the decision has been accepted by the authority, a new-found optimism has been noticed in the space. 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. Want key ETF info delivered straight to your inbox? Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >> 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 reportDIRX-LC BULL 3X (SPXL): ETF Research ReportsPRO-ULTR S&P500 (SSO): ETF Research ReportsPRO-ULT S&P500 (UPRO): ETF Research ReportsDIR-D SP5 2X BL (SPUU): ETF Research ReportsDIRX-D SP5 B125 (LLSP): 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 [Random Sample of Social Media Buzz (last 60 days)] LIVE: Profit = $7,532.57 (1.00 %). BUY B302.98 @ $2,499.90 (#Bitfinex). SELL @ $2,515.84 (#BitStamp) #bitcoin #btc - http://www.projectcoin.org  || Current price of Bitcoin is $1399.00. || How would lightning be implemented without segwit? I'm not a tech person. Will this be the… http://dlvr.it/Nw4KZy  #bitcoin #digitalnomadpic.twitter.com/flYxI9S1nU || BTC Real Time Price: ThePriceOfBTC: $2262.60 #GDAX; $2251.22 #bitstamp; $2262.20 #gemini; $2218.00 #btce; $2204.05 #kraken; $2248.50 #itBit… || Traders Raise Concern as Biggest Bitcoin Exchange Halts Deposits http://bit.ly/2nWtBPK  #bitcoin #crypto #news || #UFOCoin #UFO $0.000012 (-2.02%) 0.00000001 BTC (0.00%) || #bitcoin #miner Bitmain Antminer S5 1155 Gh/s Bitcoin BTC ASIC Miner (only) $50.00 http://ift.tt/2pqfLoZ pic.twitter.com/rRU0CRE9Qe || Try fatguyslim.gary at https://LocalBitcoins.com/ad/325323?ch=w7m … only £1,465.00 per BTC. (BPI +4.84%) #buy #bitcoin #banktrans || #Monacoin 19円↓[Zaif] -円→[もなとれ] #NEM #XEM 14.9499円↓[Zaif] #Bitcoin 210,160円↓[Zaif] 05/14 20:00 口座開設はこちらで！ https://goo.gl/31dyoO  || Try fatguyslim.gary at https://LocalBitcoins.com/ad/325323?ch=w7m … only £1,392.00 per BTC. (BPI +4.43%) #buy #bitcoin #banktrans
Trend: down || Prices: 2686.81, 2863.20, 2732.16, 2805.62, 2823.81, 2947.71, 2958.11, 2659.63, 2717.02, 2506.37
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] Not fully available. [Random Sample of News (last 60 days)] Bitcoin plummets over 23 percent after nearing all-time high as 'volatile little bubble' bursts: Bitcoin(Exchange: BTC=-USS)tanked as much as 23 percent Thursday afternoon after nearing an all-time high earlier in the trading day. The world's largest cryptocurrency by market cap traded as low as $887.47, down from the day's high of $1,153.02, according to CoinDesk data. The high for the day was just shy of $1,165.89 set on November 30, 2013. The price has recovered somewhat from the day's low to about $973.89 at the time of publication. However, bitcoin beat its high on some other cryptocurrency exchanges. Whereas CoinDesk's price index takes into account many different bitcoin exchanges – individual exchanges, where users can trade bitcoin, noted their own highest prices were exceeded. Among these were one of China's biggest and most liquid exchanges, BTC China. Industry experts said the rapid rally in bitcoin created a little bubble which is now bursting but the long-term prospects are still positive. "Once we broke through the nominal all-time high, liquidity dried up – no shorts, no sellers, which means a volatile little bubble formed quickly," Peter Smith, chief executive of bitcoin wallet Blockchain, told CNBC by email. "We are seeing the effects of that now. It's still fairly thin trading volume though. I expect the market will find a floor and stabilize somewhere in the $850 to $1,000 range, but we'll see." Wild swings in bitcoin's price are not unusual and volatility is a characteristic of the virtual currency. CNBC recently outlinedthe reason behind the latest rally in bitcoin. One key reason has been the recent devaluation of the yuan as well as the threat of capital controls across many countries. The majority of bitcoin trade comes out of China so it has a big influence. But on Thursday, theyuan rose against the dollar. The reason behind this was a sell-off in the dollar due to uncertainty around the future of U.S. Federal Reserve rate hikes, as well asstate intervention by Chinain its currency. The rise in the yuan led to a fall in bitcoin. "It is absolutely tied to China. If the yuan goes up, bitcoin goes down," Dan Collins, CEO of technology consultancy firm CCO Global, told CNBC in an interview on Thursday. More From CNBC • Top News and Analysis • Latest News Video • Personal Finance || Bitcoin is getting demolished: (Flickr / Bart Everson) Bitcoin is getting demolished, trading down 15.1% at $768 a coin, a drop of $136 a coin, as of 1:05 p.m. ET on Wednesday. The fall comes after China announced it had beguninvestigating bitcoin exchangesin Beijing and Shanghai on suspicion of market manipulation, money laundering, unauthorized financing, and other issues, Reuters reports. Wednesday's selling comes following three days in which the cryptocurrency appeared to be stabilizing, holding in a range of $880 to $920, as traders digested the news that thePeople's Bank of Chinawarned investorsto exercise caution when investing in virtual currencies. The cryptocurrency has had a wild start to 2017 after booking a 120% gain in 2016, when it was theworld's best performing currencyfor the second year in a row. Bitcoin rallied by more than 20% in the first three-plus trading days of 2017, crossing the $1,000 mark for the first time since November 2013 and coming within $46 of an all-time high. But worries surrounding a crackdown on trading in China have punished bitcoin over the past four-plus sessions, erasing more than 30% of its value. Bitcoin is now down more than 17% in 2017. (Investing.com) NOW WATCH:Watch Yellen explain why the Federal Reserve decided to raise rates More From Business Insider • We bought and sold bitcoin — here's how it works • Bitcoin is trying to make a comeback • Bitcoin is going bananas || Why China’s central bank fears bitcoin: It was only one week ago that the price of the digital currency bitcoin hit a new all-time high of $1,130. Now the price has fallen precipitously, and was hovering around $800 on Thursday afternoon. The reason is China. The People’s Bank of China (PBOC) said on Wednesday that it plans regular on-site inspections of the leading Chinese bitcoin exchanges, including BTCChina, Huobi, and OKCoin. This came after PBOC officers in Beijing visited the offices of Huobi and OKCoin, and PBOC officers in Shanghai visited the offices of BTCC, for checkups that, “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,” as Reuters translated the PBOC statement. The price of bitcoin fell sharply on the news. Bitcoin price so far in 2017. (via Coindesk) Five days earlier, the PBOC issued press releases, in Beijing and Shanghai, that contained a more general warning about bitcoin. The releases recirculated a government statement from back in 2013 stating that the Chinese government does not recognize bitcoin as a currency, and that it carries investment risk. The price of bitcoin fell 12% in the aftermath, but then recovered. It was climbing back when the PBOC announced its inspections on January 11, sending the price down again, as much as 15% at one point. The PBOC did not say bitcoin is illegal, or expressly tell Chinese citizens they cannot buy bitcoin. But clearly, China’s central bank is stepping up its public war on bitcoin. Why? Bitcoin is frequently thought to be an uncorrelated asset to the broader global market—that is, its trading price is not tied to stocks. (In that way it has been compared to gold .) Speculators see bitcoin as a “safe haven” investment for two scenarios: tightened capital controls, and general market uncertainty. At the moment, investors in China see both of those happening: The PBOC cracked down with stricter capital controls in 2016, and the price of the yuan has fallen 5% against the dollar over the past 12 months. Story continues Chinese authorities have taken note of the move toward bitcoin, and they are trying to throw cold water on the coin in order to tamp down capital outflows and help the yuan. Will it work? It clearly affected prices, but bitcoin has regular price hikes and falls, and it has fallen much farther than this before—usually after a reported hack of a major bitcoin exchange, like the bitcoin “flash crash” in 2013 after the fall of Mt. Gox. The price already appeared to be climbing back on Thursday, after hitting a low around $760. And the price is still up 87% in the past 12 months, and 246% in the past two years. The latest two actions by the PBOC aren’t the damaging blow that some news outlets are making them out to be. The first was simply a warning that bitcoin is volatile. That’s true (though it has been less volatile over the past two years), as one of the targeted exchanges, BTCC, acknowledged in a muted public response to the PBOC release: “The press release put forth from the PBOC today outlines that there is significant volatility in bitcoin trading… bitcoin is a virtual good and doesn’t have legal tender status.” The second was just an indication China will watch bitcoin companies more closely. In fact, BTCC CEO Bobby Lee t old Coindesk , “We’re now working closely with the government about what makes a healthy market… We’ve been trying to get their attention for years.” Make no mistake: China is the most important market for bitcoin prices. During the price ride at the end of 2016 and in the first week of 2017, more than 90% of trading volume was coming from China. Positive sentiment toward bitcoin among Chinese investors is crucial to a high bitcoin price. And while China’s central bank succeeded this week in bringing bitcoin back down to earth, it is very unlikely that Chinese bitcoin buyers have been turned off for good. Here’s what to expect next, although it could take a few years: the Chinese government will likely begin regulating the major bitcoin companies there, and making them go through licensing hurdles. That may turn out to be good for the price. That’s what happened in the U.S. in 2013, when the government began to regulate and license bitcoin companies as “money transmitters”: the price rallied thanks to regulatory clarity. “If the end result is there’s actually kind of some legitimacy around regulation of this in China, then I actually think the market rallies,” says Jeremy Allaire, CEO of the peer-to-peer payments company Circle . “It will be very interesting to see if the outcome of the People’s Bank of China examining [bitcoin exchanges] leads to new guidance, new rules. Even if there’s enforcement actions, the result and output might actually be more legitimacy.” — Daniel Roberts is a writer at Yahoo Finance, covering technology and sports business. Follow him on Twitter at @readDanwrite . Read more: Bitcoin is becoming the new gold Expect more blockchain hype in 2017 Here’s 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 is getting demolished: Wrecking Ball (Flickr / Bart Everson) Bitcoin is getting demolished, trading down 15.1% at $768 a coin, a drop of $136 a coin, as of 1:05 p.m. ET on Wednesday. The fall comes after China announced it had begun investigating bitcoin exchanges in Beijing and Shanghai on suspicion of market manipulation, money laundering, unauthorized financing, and other issues, Reuters reports. Wednesday's selling comes following three days in which the cryptocurrency appeared to be stabilizing, holding in a range of $880 to $920, as traders digested the news that the People's Bank of China warned investors to exercise caution when investing in virtual currencies. The cryptocurrency has had a wild start to 2017 after booking a 120% gain in 2016, when it was the world's best performing currency for the second year in a row. Bitcoin rallied by more than 20% in the first three-plus trading days of 2017, crossing the $1,000 mark for the first time since November 2013 and coming within $46 of an all-time high. But worries surrounding a crackdown on trading in China have punished bitcoin over the past four-plus sessions, erasing more than 30% of its value. Bitcoin is now down more than 17% in 2017. Bitcoin (Investing.com) NOW WATCH: Watch Yellen explain why the Federal Reserve decided to raise rates More From Business Insider We bought and sold bitcoin — here's how it works Bitcoin is trying to make a comeback Bitcoin is going bananas || KRUGMAN: The 'America we knew and loved is gone': american flag rocks iran (Reuters) Paul Krugman, the Nobel Prize winning economist and liberal New York Times columnist, said Monday that he has lost faith in the future of the United States. In a series of tweets following President-elect Donald Trump's expected triumph in the Electoral College vote , Krugman seemed to be despondent with the state of the US. "So it's official, and it's vile: the loser of the popular vote installed by Russian intervention, a rogue FBI, and epic media malfunction," Krugman tweeted. "We should never accept this as OK. It may be the new normal, but that's a new normal in which the America we knew and loved is gone." The economist has for weeks expressed his concern about a Trump administration, calling into question the president-elect's choices for Cabinet positions, Trump's business conflicts of interests, and the influence of the FBI and Russian hackers on the election. Krugman also followed up with a series of tweets Tuesday morning attacking Trump's nominees for various economic posts such as the Office of Management and Budget, Treasury secretary, and the chair of the Council of Economic Advisors. "Are people noticing that the Trump economic team is shaping up as a gathering of gold bugs?" tweeted Krugman. Krugman said Rep. Mick Mulvaney , Trump's nominee for budget chief at the OMB, is a "conspiracy theorist." The economist pointed to a speech from Mulvaney in which he praised bitcoin as "not manipulable by any government" and attacked the Federal Reserve. Related: For more news videos visit Yahoo View , available now on iOS and Android . Krugman also attacked Steven Mnuchin, the Treasury pick, for his connections to hedge fund manager John Paulson, who has incorrectly predicted massive inflation in recent years. The highest praise was given to Larry Kudlow, who is expected to be named the head of the Council of Economic Advisers. "In this crew, Kudlow — who thinks it's always the 1970s, but doesn't seem to see hyperinflation under his bed — is the most reasonable," Krugman said. Story continues View Krugman's tweets below: So it's official, and it's vile: the loser of the popular vote installed by Russian intervention, a rogue FBI, and epic media malfunction. — Paul Krugman (@paulkrugman) December 20, 2016 We should never accept this as OK. It may be the new normal, but that's a new normal in which the America we knew and loved is gone — Paul Krugman (@paulkrugman) December 20, 2016 Are people noticing that the Trump economic team is shaping up as a gathering of gold bugs? 1/ — Paul Krugman (@paulkrugman) December 20, 2016 Treasury goes to a guy with little public profile, but hangs out with John Paulson (who is also close to Trump) https://t.co/GSiJOfuiOq 2/ — Paul Krugman (@paulkrugman) December 20, 2016 And Paulson has been predicting inflation -- sometimes double-digit -- from Fed policy for years 3/ https://t.co/cIocJFsh7P — Paul Krugman (@paulkrugman) December 20, 2016 Budget director appears to be John Bircher and conspiracy theorist (but aren't they all? But note economic views 4/ https://t.co/d8M15ztSXm — Paul Krugman (@paulkrugman) December 20, 2016 Birchers want return to gold and silver, Mulvaney seems to agree 5/ pic.twitter.com/hTyHc3JbB6 — Paul Krugman (@paulkrugman) December 20, 2016 In this crew, Kudlow -- who thinks it's always the 1970s, but doesn't seem to see hyperinflation under his bed -- is the most reasonable 6/ — Paul Krugman (@paulkrugman) December 20, 2016 Whoops -- forgot Mulvaney's Bitcoin derp: "He praised bitcoin as a currency that is "not manipulatable by any government."" 7/ — Paul Krugman (@paulkrugman) December 20, 2016 NOW WATCH: Donald Trump's 'strange' morning habit tells you everything you need to know about him More From Business Insider Trump calls Paul Krugman 'demented' for suggesting he has an 'incentive' to benefit from a 9/11-style attack 'I'm asking you a simple question': Fox News host confronts RNC chair over Trump's denial of Russia hacks POLL: A majority of Republicans think Trump won the popular vote || 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) || 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) || 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) || Most Popular ETFs Of The Year: In the ETF world, the rich get richer. The biggest funds by assets typically attract the largest flows each year. In that regard, 2016 was no exception. The smallest ETF to make the top 10 inflows list for the year has an impressive $16.9 billion in assets, according to FactSet. The other ETFs on the list are much larger still. Together, these 10 ETFs took in $87.1 billion of fresh investor money in the year-to-date period ending Dec. 6. To put that in context, total flows into all ETFs so far this year have been $225 billion. There's still another three weeks left to go in the year, so the final numbers could change (we'll publish the official figures once they're released). But if there's any conclusion to be reached from these numbers, it's that investors still favor plain-vanilla index ETFs over their more complex counterparts―whether it besmart-beta funds,active fundsor otherwise. Investors Embrace S&P 500 ETFs Indeed, for all this year's hype about "smart beta," it's "dumb beta" that investors wanted. In particular, when it comes to U.S. equities, investors plowed billions intoS&P 500 ETFs. Three out of the top four funds on the flows list track the venerable large-cap index, including theSPDR S&P 500 ETF (SPY), theiShares Core S&P 500 ETF (IVV)and theVanguard S&P 500 Index Fund (VOO)―all with inflows of more than $10.7 billion. The only other U.S.-focused equity fund to make the cut was the broaderVanguard Total Stock Market Index Fund (VTI), but its year-to-date flows of $5.2 billion were less than half that of the three S&P 500 funds. Emerging Market Comeback In a year that featured concerns about China and "Brexit," it's no wonder investors preferred U.S. equities. Even so, a trio ofinternational equity ETFsalso showed up in the top 10. TheVanguard FTSE Developed Markets ETF (VEA), which tracks developed-market stocks outside the U.S., had inflows of $8.8 billion in the year-to-date period. At the same time, two low-cost emerging market ETFs—theVanguard FTSE Emerging Markets ETF (VWO)and theiShares Core MSCI Emerging Markets ETF (IEMG)—made an appearance on the list, with inflows of $8.8 billion, and $6.5 billion, respectively. GLD Falls Down The RanksMeanwhile, three nonequity ETFs found themselves on the list. TheiShares Core U.S. Aggregate Bond ETF (AGG)took in $10.9 billion so far this year. AGG provides exposure to the market of U.S. investment-grade bonds, weighted by market value. TheiShares TIPS Bond ETF (TIP)was another popular bond fund, with inflows of $6.6 billion. TIP holds Treasury inflation-protected securities, a type of U.S. government bond that protects investors in a rising-rate environment. TheSPDR Gold Trust (GLD)is another inflation-hedge in the top 10. The physically backed gold ETF was at the top of the flows leader board for much of the year, but fell down the ranks rapidly in the weeks following Donald Trump's victory at the polls. A post-election spike in interest rates and the U.S. dollar led GLD to lose some of its luster. Incidentally, GLD is the most expensive ETF on the top inflows list, with an expense ratio of 0.40%. All the other funds in the top 10 have an expense ratio of 0.20% or less. Flows For Jan. 1 to Dec, 6, 2016 [{"Ticker": "SPY", "Fund": "SPDR S&P 500 ETF Trust", "Net Flows*": "11,329.80"}, {"Ticker": "IVV", "Fund": "iShares Core S&P 500 ETF", "Net Flows*": "11,250.62"}, {"Ticker": "AGG", "Fund": "iShares Core U.S. Aggregate Bond ETF", "Net Flows*": "10,910.56"}, {"Ticker": "VOO", "Fund": "Vanguard S&P 500 Index Fund", "Net Flows*": "10,743.41"}, {"Ticker": "GLD", "Fund": "SPDR Gold Trust", "Net Flows*": "9,076.08"}, {"Ticker": "VEA", "Fund": "Vanguard FTSE Developed Markets ETF", "Net Flows*": "8,814.22"}, {"Ticker": "VWO", "Fund": "Vanguard FTSE Emerging Markets ETF", "Net Flows*": "6,698.77"}, {"Ticker": "TIP", "Fund": "iShares TIPS Bond ETF", "Net Flows*": "6,562.40"}, {"Ticker": "IEMG", "Fund": "iShares Core MSCI Emerging Markets ETF", "Net Flows*": "6,498.14"}, {"Ticker": "VTI", "Fund": "Vanguard Total Stock Market Index Fund", "Net Flows*": "5,236.37"}, {"Ticker": "*Net Flows in USD Million", "Fund": "", "Net Flows*": ""}] Contact Sumit Roy [email protected] Recommended Stories • Friday Hot Reads: 2016 A Vintage Year For Bitcoin • Thursday Hot Reads: These ETFs Generate Capital Gains • For ETFs, Fixed Income Matters More Than Smart Beta • ETF Innovation A Tough Sell In 2016 • Tuesday Hot Reads: Millennials Play With ETF Fire Permalink| © Copyright 2016ETF.com.All rights reserved || First Bitcoin Capital Acquires Large Stake in One of the Oldest Mineable Cryptocoins Ranked High on Coin Market Cap; Also, Company’s Digital Shares Are Now Listed on Two International Cryptocurrency Exchanges: VANCOUVER, BC / ACCESSWIRE / November 30, 2016 /First Bitcoin Capital Corp. (BITCF) is pleased to announce that it has sold its Venezuela mining concessions for a large stake in the cryptocurrency of one of the oldest mineable coins that ranks high on Coin Market Cap. See:http://coinmarketcap.com/currencies/kilocoin/. Kilocoin which is similar to Litecoin primarily trades on a popular cryptocurrency exchange athttps://c-cex.com/?p=klc-btc A list of its nodes can be found viahttps://c-cex.com/?id=ws&shownodes=klc Kilocoin mining can be tracked athttps://www.blockexperts.com/klc# From its web site viahttp://kilocoin.com/their wallet can be downloaded. At its current rate of mining (159 coins per block) it should take centuries to reach the maximum of 25,000,000,000 mineable coins with a little over 10,000,000,000 coins mine thus far, giving BITCF nearly 10% participation. The Company anticipates that the KLC exchange will boost BITCF's balance sheet with tremendous upside potential and may become a source of future dividends. Differences from Bitcoin and Litecoin and Kilocoin [{"": "Coin limit", "Bitcoin": "21 Million", "Litecoin": "84 Million", "Kilocoin": "25 Billion"}, {"": "Algorithm", "Bitcoin": "SHA-256", "Litecoin": "Scrypt", "Kilocoin": "Scrypt"}, {"": "Mean block time", "Bitcoin": "10 minutes", "Litecoin": "2.5 minutes", "Kilocoin": "5 minutes"}, {"": "Difficulty Target", "Bitcoin": "2016 Block", "Litecoin": "2016 Blocks", "Kilocoin": "288 Blocks"}, {"": "Initial Reward", "Bitcoin": "50 BTC", "Litecoin": "50 LTC", "Kilocoin": "159 KLC"}, {"": "Current block reward", "Bitcoin": "25 BTC", "Litecoin": "50 LTC", "Kilocoin": "159 LTC"}, {"": "Block explorer", "Bitcoin": "blockchain.info", "Litecoin": "block-explorer.com", "Kilocoin": "https://www.blockexperts.com/klc#"}, {"": "Created by", "Bitcoin": "Satoshi Nakamoto", "Litecoin": "Charles Lee", "Kilocoin": "Kilocoin, Inc (DAC)"}, {"": "Creation date", "Bitcoin": "January 3, 2009", "Litecoin": "October 7, 2011", "Kilocoin": "Feb 27th, 2014"}, {"": "Coins Mined (as of 8 April 2015)", "Bitcoin": "14,029,116.67", "Litecoin": "37,984,800", "Kilocoin": "10,013,105,152"}] Furthermore, in conjunction with BITCF's expanding ownership of its common shares onto its own blockchain (BIT) and trading on foreign international cryptocurrency exchanges, the company is proud to announce that its digital shares are now trading on an additional, popular cryptocurrency exchange, LIVECOINwww.livecoin.net. About the company: First Bitcoin Capital is engaged in developing digital currencies, proprietary Blockchain technologies, 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 cryptocurrencies and blockchain technologies." At this time the Company owns and operates the following digital assets. www.BITCoinCapitalcorp.comcompany website. 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 and $GARY $BURN coins. 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. SOURCE:First Bitcoin Capital Corp. [Random Sample of Social Media Buzz (last 60 days)] MMMBTC || #LiveBitcoinBets ― Crypto-Currencies github commit statistic http://dlvr.it/Mw2l5W  #Bitcoin → http://betbitcoin.trade  || When I look at my $BTC gains from 790.00 pic.twitter.com/2HFfDua98n || ¿Qué es eso del ‘Bitcoin’ y cómo se puede utilizar? - #dinero http://www.grandesmedios.com/bitcoin-definicion-utilidad/ … || Bloomberg Report: Bitcoin Topped All Other Currencies In 2016 https://lnkd.in/gz88yw3  || Current price of Bitcoin is $731.00 via Chain || MMMBTC || $899.98 at 23:45 UTC [24h Range: $875.00 - $912.87 Volume: 8713 BTC] || 0.01% 790.85$ 789.26$ 790.64$ || MMMBTC
Trend: up || Prices: 907.94, 886.62, 899.07, 895.03, 921.79, 924.67, 921.01, 892.69, 901.54, 917.59
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 2022-04-04] BTC Price: 46622.68, BTC RSI: 62.87 Gold Price: 1929.20, Gold RSI: 50.11 Oil Price: 103.28, Oil RSI: 49.32 [Random Sample of News (last 60 days)] Bitcoin Miner Marathon on Track to Meet Its Hashrate Guidance, Despite Delay: Don't miss CoinDesk's Consensus 2022 , the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12. Marathon Digital (MARA), one of the largest publicly traded bitcoin miners, is still on track to meet its hashrate guidance of 23.3 exahash per second (EH/s) by early 2023, despite a 45-day delay in deploying its mining rigs during the first quarter, the company said Monday. The company attributed the delay to a longer-than-expected permitting process for the required power for its operations. “Typically, power flows from power stations into the grid. However, to ensure we have a consistent power supply when the renewable sources are operating intermittently, we also needed power to flow from the grid back into the power station at scale,” said Marathon CEO Fred Thiel, noting that this process required permitting, which delayed the deployment. The delay comes after Marathon said that during the fourth quarter of last year maintenance to the power generating station in Hardin, Mont., affected the company’s bitcoin (BTC) production in November. However, Thiel said the “delays are now behind us” and expects to reach 23.3 EH/s by early next year. Marathon mined 1258.6 bitcoin during the first quarter, a 15% increase from the previous quarter and 556% higher than a year ago. The miner is still holding on to its mined bitcoins and currently has 9,373.6 BTC with a fair market value of approximately $427.7 million. Marathon also confirmed to CoinDesk that it is open to selling the company for the right offer, as was earlier reported by Bloomberg. Marathon shares have fallen 12% this year, while the price of bitcoin has fallen 2.6% and shares of mining peers Riot Blockchain (RIOT) and Core Scientific (CORZ) have dropped 9% and 16%, respectively. || How to avoid panic buying in an ultra-competitive housing market: This article was originally published on Bankrate.com by Zach Wichter. This article is brought to you by Bankrate. If you decide to purchase products through the links below, we may receive a commission. Pricing and availability are subject to change. With housing inventory still in short supply and historically low mortgage rates starting to inch back upward, the real estate market has gone from brisk to combative. In such a competitive environment, many buyers feel pressure to move quickly and stretch their budgets to make sure a property they love doesn’t slip through the cracks. In fact, according to a homeownership report from Hippo Insurance , 68 percent of buyers in 2021 paid above asking price. Kevin Kieffer, a Realtor with Compass’ EastBayPro Team in the San Francisco Bay area, calls this behavior “panic buying.” In the current market, he says, it can be easy for prospective homeowners to get in over their heads. Don’t let that happen to you. Instead, get familiar with panic buying and its pitfalls, and learn how to avoid them. What is panic buying? “Buyers are so afraid they’re going to miss these low rates, and then they won’t be able to buy a home,” Kieffer says. “They’re just panicking, which creates irrational decisions.” It’s already common for buyers in especially competitive areas to waive contingencies in their offers or include appraisal gap coverage . But Kieffer says he’s also seeing many people offer significantly more than the asking price. In many areas, homes selling over the asking price have become the norm. “We’re seeing 10 offers come in on a property, and, like, two of them just blow out the comps by 15 or 20 percent,” he says. “Twenty percent is something that we’ve never seen before.” Buyers aren’t just overextending themselves with high offers, either. That practice of waiving contingencies means new homeowners could be on the hook for expensive repairs as soon as they move in. In fact, according to Hippo, 81 percent of recent first-time homebuyers had unexpected repairs in the first year. And 66 percent of all new homeowners spent $1,000 or more on repairs in the first year. Story continues Courtney Klosterman, home insights expert at Hippo, notes that COVID added another layer of complication to the real estate landscape with the need for virtual tours, leading more people than ever to buy homes without first visiting them in person. Buyer’s remorse: What regrets do new homeowners have? “There are a lot of people who are buying homes for the first time, and they just don’t realize the volume of things you need to do to maintain a house ,” says Steve Wilson, senior underwriting manager at Hippo. “People are having remorse around the upkeep of the home, and how failure to do that maintenance can lead to a costly issue.” Things like the plumbing, electrical and climate control systems are important to check before you close, as well as structural parts of the house like the foundation, roof and attic. “Those are all things that are easy to see on a basic walkthrough and can help inform your decision of whether you want to buy this house,” Wilson says. Even if you waive your inspection contingency , that doesn’t mean you should skip the home inspection altogether. It’s a good idea to still conduct an inspection, so you know what you’re getting into and can budget for any repairs that will be necessary after moving in. Klosterman adds that for people leaving a city for the suburbs or moving to another part of the country, it’s especially important to understand any environmental risks in your new area. “I have found that a lot of people, especially in the California, Texas, Florida and New York areas, have not looked at home insurance before they buy the house,” she says. “And then they’re in shock that they’re in a wildfire zone or a flood zone or a hurricane zone.” Those external factors can result in big extra expenses. How to avoid panic buying First and foremost, Klosterman says, you should work with a knowledgeable Realtor. But it’s also a good idea to speak to homeowners in your personal orbit. “It’s really smart to lean on a trusted homeowner during the process. Someone in the area, someone you know and trust, outside of your Realtor,” she says. “No offense to our wonderful Realtors, but they’re going to look at properties very differently than you do.” Beyond that, it’s important not to rush, and to make sure you are prepared to ask crucial questions about a property’s condition and your mortgage loan as you go through the process. Kieffer adds that many buyers are also adjusting their expectations as homes keep selling for well over their list price. “A lot of folks are regressing their target price,” he says. “They need to step it back so they’re looking at the properties they’re capable of purchasing.” Overbidding: Causes and consequences In an overheated housing market like the one we’re currently experiencing, bidding wars , which involve multiple buyers competing for the same property, are more common than ever. Bidding on a home is more art than science, but the basic principle is that you don’t want to wind up with more house than you can afford, or pay much more than market value. It’s smart for most buyers to establish a budget well before they start shopping, and to stick to it no matter how much they might fall in love with a property. Keep in mind that if you bid too much for a property, the appraisal is almost certain to come in low. And a low appraisal means you’ll probably have to add more cash to the deal to bridge the gap. If you’re not sure where to start with your budget, check out Bankrate’s housing affordability and mortgage payment calculators, which can help you estimate your monthly costs and figure out what your budget should look like. If you can’t find a forever home in your price range, consider a starter home . If all else fails, remember that patience can pay dividends. The hot housing market will almost certainly cool off eventually, and inventory will slowly rise over time. You may find more favorable market conditions — and fewer bidders — if you wait for a while. Bottom line For most people, a house is the biggest purchase they’ll ever make. It’s not a transaction to be entered into lightly, and it’s not a race to the closing table. If you’re overwhelmed by the housing market, find professionals who can help guide you through the process. And don’t be afraid to walk away from a deal that could ultimately leave you with a house you can’t afford to maintain or pay off. Also, remember: There’s an emergency escape hatch in a competitive real estate climate like this one. “You may still have the option, since it’s a hot market, to sell the house if it’s truly not for you,” Wilson says. “You may not have had that two years ago.” More from In The Know: What is inflation and what causes it? Buy, sell or hold? How to decide what to do with a plummeting stock 11 ways women can shrink the gender pay gap to better achieve their financial goals Bitcoin vs. gold: Which is the better inflation hedge? The post How to avoid panic buying in an ultra-competitive housing market appeared first on In The Know . || What is inflation and what causes it?: This article was originally published on Bankrate.com by Karen Bennett. This article is brought to you by Bankrate. If you decide to purchase products through the links below, we may receive a commission. Pricing and availability are subject to change. Inflation is when the dollars in your wallet lose their purchasing power — either because the money supply has dramatically increased or because prices have surged. It’s an economic phenomenon that has a nasty reputation among policymakers, investors and consumers alike. That’s more so now than ever, with price surges on everything from food, housing and vehicles to clothing, medical care and gasoline, according to data from the Labor Department released in March. Key Statistics The consumer price index, a measure of inflation, rose 0.8 percent in February compared with January . The index has risen 7.9 percent during the past year, reflecting the largest 12-month increase in 40 years. Gasoline: The gasoline index rose a considerable 6.6 percent in February, and prices at the pump continued to climb in March, with the national average surpassing $4 a gallon. Food: The cost of keeping food on the table also continued to climb, as the food index rose 1 percent in February — the largest monthly increase since April 2020 when prices climbed in response to the coronavirus outbreak. Shelter: The shelter index climbed 0.5 percent in February, with the rent index up 0.6 percent and the index for lodging away surging 2.2 percent. Vehicles: The prices for used cars and trucks have skyrocketed by 41.2 percent in the past 12 months, while the new vehicle index has risen 12.4 percent over the same period. Table of Contents What is inflation? How inflation is measured What causes inflation? What is going on with inflation? Consequences of inflation How much inflation is too much inflation? 5 ways to protect your money from inflation What is inflation? Inflation occurs when the cost of goods and services in the economy goes up over a sustained period of time. Yet, distinguishing actual inflation from just a price jump can get pretty tricky — because both are different. Story continues Inflation doesn’t happen overnight, and it also doesn’t happen when the cost of one particular good or service goes up. Say you go to the grocery store and buy a dozen eggs for $2. Then, the next week, that same product is now $4. That alone doesn’t count as inflation, as prices in the financial system constantly fluctuate. From an economics perspective, inflation applies to the broader picture. So while prices on some items can definitely be inflated (think: college costs), it doesn’t equal what economists mean when they say inflation, even though your wallet can surely feel that squeeze. “We may see prices rise on certain things like gas or milk, but it’s not necessarily inflation unless you see prices rising sort of across the board, across many different products and services,” says Jordan van Rijn, who teaches agricultural and applied economics at the University of Wisconsin–Madison. Though the Federal Reserve hasn’t established an inflation target , policymakers have set an acceptable level of inflation at about 2 percent annually. Inflation has topped 2 percent repeatedly during the past two decades. Since 2000, there have several months during which inflationary measures increased significantly year over year: How inflation is measured Consumers The way inflation is measured depends on the gauge. For consumers, the most important price tracker tends to be the Labor Department’s consumer price index. Policymakers at the Federal Reserve, however, closely follow the personal consumption expenditures index, from the Commerce Department. The indexes are broadly similar and track the same trend, though the consumer price index tends to show higher rates of inflation over time. Generally, both gauges follow a wide variety of consumer products that reflect typical household purchases, which can be anything from appliances and furniture, to food, apparel and utilities. Some households might have a higher inflation rate than others, depending on what items they’re buying. Lower-income households, for example, may spend a greater percentage of income on housing, food, gasoline and utilities, meaning they’re more affected by rising prices. “If 50, 60, 70 percent of your money goes to paying a mortgage or rent and those prices are rising, you’re going to certainly be hit a lot harder,” van Rijn says. “Certainly people spending a lot of money on groceries and gasoline, they’re going to still feel the impact of a big increase in headline inflation.” Data Collectors Data collectors create an index that tracks the consumer staples’ costs and multiply it to get what’s called a base period. Then, they compare that index with different time periods to get what’s called the inflation rate. Measuring quarter to quarter provides a quarterly inflation rate, while year to year gives an annual inflation rate. But some categories tend to be more volatile than others. Food and energy, for example, experience sharp swings month to month. Sometimes, it’s best to strip those categories from the data, in what’s called a core inflation rate, which helps eliminate some of the noise. Over time, however, both core and headline inflation tend to follow the same path. What causes inflation? Economists like to lump the typical inflation causes into two categories: demand-pull and cost-push inflation. They sound wonky, but they reflect experiences that many Americans are familiar with. Cost-push occurs when prices increase because production is more expensive; that can include rises in labor costs (wages) or material prices. Companies pass along those higher costs in the form of higher prices, which then cycles back into the cost of living. On the flip side, demand-pull inflation generates price increases when consumers have resilient interest for a service or a good. Such demand could result from things like a low jobless rate, a high savings rate or strong consumer confidence. A higher demand for products causes companies to produce more to keep up with demand, which, in turn, could lead to product shortages and price surges. “You could have an economy that revs up very quickly and you end up with demand-pull inflation, where there’s too much money chasing too few goods and services,” says Greg McBride, CFA, Bankrate chief financial analyst. “Cost-push is where input costs increase and that affects the price for goods and services.” What’s going on with inflation? The cost of goods and services has steadily increased since World War II, when modern data collection was first made available. That’s partially just because the economy has grown. But economists like to think about price gains by tracking how much they’ve increased or decreased from the prior-year period. In recessions, the year-over-year inflation rate tends to fall, reflecting disinflationary pressures as millions of consumers remain out of work and demand is subdued. In recovery periods, the inflation rate tends to pick up, reflecting higher demand and wage gains as individuals find employment again. High inflation was last a major problem during the 1970s and ‘80s — reaching 12 percent in 1974 and 14.5 percent in 1980 — when the central bank moved too slowly to adjust interest rates amidst big government spending and two oil-price shocks. The Fed took action by raising interest rates to get inflation back in line. By late 1982, inflation was down to 5 percent. Since then, inflation hasn’t proved much of a threat, and price gains have actually been tepid at best, mainly due to disinflationary factors from globalization, fewer labor unions, technological innovations and overall stagnant wage growth. In recent times, the coronavirus pandemic, supply chain problems, worker shortages, a surplus of consumer cash and the Ukraine-Russia conflict have all contributed to inflation reaching a 40-year high. Prices for things like gasoline, food and housing have increased significantly since 2019. The price of crude oil rose 83 percent over the past 12 months, according to March 7 data from the Federal Reserve Bank of St. Louis . Oil price spikes can cause surges in the prices of gasoline as well as the thousands of products made from oil and natural gas , such as: Aspirin Computers Eyeglasses Tires Shampoo Solar panels Synthetic fabrics Toothpaste Trashbags Tubing Upholstery Vinyl flooring Since oil is a component in fertilizer and used in farming, the price of food is also seeing increases. Price surges that were brought on by the pandemic and supply shortages may abate in coming months, causing prices for energy, transportation and goods to come down. Factors like the Ukraine-Russia conflict, however, still point to uncertain economic conditions ahead . In all, the economy is running very hot, with consumers flush with cash and eager to spend it on cars, homes and furniture, while manufacturers struggle to keep up, faced with widespread labor shortages and supply chain hiccups. The higher prices of goods and services due to inflation are costing the average household $276 extra a month , by some estimates. An inflation calculator is a simple way to compare the buying power of money during different periods, by inputting a dollar amount and selecting the months and years for comparison. For instance, $10 in February 2000 had the same buying power as $16.71 in February 2022. Consequences of inflation The consumer inflation rate as measured by the consumer price index in February 2022 rose 7.9 percent from a year ago, reflecting the largest 12-month increase since 1982. Consumers and policymakers wouldn’t be so fixated on inflation if it didn’t prove to have consequences — for both individual households and the broader economy. In a high-inflationary environment, there are few places to hide. Think about the money you have sitting in your wallet or in your bank account. In a high-inflationary environment, you wouldn’t be able to buy as much with it as you used to. Taking into consideration the fact that two-thirds of U.S. economic growth is consumption, that could threaten the vibrancy of growth. “If prices are rising faster than wages, which tends to occur in cases of high inflation, basically, that means people have less money to spend, less real purchasing power,” the University of Wisconsin’s van Rijn says. “It’s almost like having a pay cut.” One of the many groups put into a precarious position by inflation are retirees on a fixed income, who may feel the need to cut back on purchases or resort to riskier investments in hopes of generating more income. Retirees are “at this moment in their lives they really want to reduce their exposure to risky assets and be in a bond portfolio,” says John Cunnison, CFA, chief investment officer at Baker Boyer Bank. “But if inflation begins to run, those bond portfolios, they’re really not going to perform well. They have very limited options in a period of high-sustained inflation.” Other groups often hit particularly hard by inflation include business owners, who can struggle to stay afloat. If the cost of borrowing also rises, anyone looking for a loan may also have trouble finding affordable rates, which can further slow down the economy. How much inflation is too much inflation? A small amount of inflation is actually a good thing. Typically, that’s thought of as a 2 percent increase year over year, at least in the minds of officials on the U.S. central bank. “That basically gives the economy the ability to slowly raise prices,” Cunnison says. For companies, they can slowly increase people’s wages. You’re really looking at the goldilocks inflation, a not too little, not too much.” But increases in inflation that are too drastic could erode consumers’ purchasing power, stifle demand for goods and services and threaten companies’ profitability — which may force the Fed to raise interest rates to cool down the economy. Even the mere expectation of higher prices can be a bad prophecy. If consumers start expecting prices to pop, they’re more likely to start panic buying and demanding higher wages. Those two forces combined prompt companies to increase prices, creating the very phenomenon consumers were worried about. “The tricky thing with inflation is, a lot of it is psychological; it depends on expectations of what inflation will be in the future,” says van Rijn, the economics professor. “If people think inflation will be high, prices are going to continue to rise. If you’re an executive setting wages at your company, that depends a little bit on your expectations for how much prices are going to increase next year. As wages go up, then the same thing happens with businesses — they’re going to start raising their prices.” 5 ways to protect your money from inflation Technically speaking, higher inflation should always be something that’s factored into your wallet, experts say. But another way of looking at it means periods of higher inflation shouldn’t change your strategy all that much , particularly if you’re an investor. 1. Equities Investing in equities may provide a safe haven from inflation, since certain companies still stand to make profits in inflationary times, which in turn may cause their stock prices to rise. In general, avoid parking too much cash on the sidelines in fixed-income investments like government bonds. Experts typically recommend getting income from across your portfolio, including from dividend-paying stocks, preferred stocks and real estate investment trusts. 2. Inflation-indexed bonds Another beneficial strategy can be incorporating inflation-indexed bonds, the most common being Treasury-Inflation Protected Securities (TIPS) , which protect you from inflation by design. They pay a fixed interest rate every six months and an inflation adjustment on a semiannual basis, which applies to the bond’s face value, rather than its yield. 3. Gold Gold is often viewed by investors as a safe haven during times of inflation or low interest rates, thanks to its proven track record of gains. If you don’t want to actually buy gold and keep it in your home, a convenient alternative is purchasing it through an exchange-traded fund (ETF), which allows you to invest in physical gold or gold mining stocks. 4. An adequate emergency fund Periods of higher inflation might seem like the wrong time to prioritize saving, but building up an emergency fund of six to nine months’ worth of your expenses is still a wise idea, considering that economic uncertainty rises along with inflation. After that, higher inflationary environments are a particularly important time to make sure that you start searching for a better return — especially for consumers, who risk losing purchasing power. 5. A house Though mortgage rates recently climbed to more than 4 percent after bottoming out at 2.93 percent in January 2021, those who acquired a fixed-rate mortgage at low rates were able to secure cheap funding for up to 30 years. Though property taxes may increase, you can rest assured your fixed-rate mortgage payment will remain the same — unlike the price of rent, which isn’t immune to inflation — even as most of your other expenses continue to increase. – Staff writer Sarah Foster contributed to this story . The post What is inflation and what causes it? appeared first on In The Know . More from In The Know: Buy, sell or hold? How to decide what to do with a plummeting stock 11 ways women can shrink the gender pay gap to better achieve their financial goals Bitcoin vs. gold: Which is the better inflation hedge? Federal Reserve raises interest rates for first time since 2018 || EUR/USD Testing Key Retracement Zone at to 1.1407 – 1.1474: The Euro is edging lower on Monday after soaring last week following a hawkish shift by the European Central Bank (ECB). Traders were also moving money back into the U.S. Dollar, betting the jump in U.S. jobs created in January could lead to faster Federal Reserve rate hikes . At 13:27 GMT, the EUR/USD is trading 1.1439, down 0.0013 or -0.11%. On Friday, the Invesco CurrencyShares Euro Trust ETF (FXE) settled at $106.41, up $0.25 or +0.23%. The European common currency hit a three-week high last week. Those gains had been driven by a hawkish turn from the ECB, which led traders to bring forward the likely timing of Euro rate hikes and sent bond yields sharply higher. The dollar found some support on Monday, helped by U.S. Treasury yields that rose after far better-than-expected jobs data on Friday. The financial markets have now priced in a one-in-three chance the Fed might hike by a full 50 basis points in March, and a reasonable chance rates will reach 1.5% by year end. These expectations could be bolstered by the U.S. consumer price index due Thursday. Daily EUR/USD Daily Swing Chart Technical Analysis 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 January 28. A trade through 1.1483 will change the main trend to up. A move through 1.1122 will signal a resumption of the downtrend. The short-term range is 1.1692 to 1.1122. The EUR/USD is currently trading inside its retracement zone at 1.1407 to 1.1474. The main range is 1.1909 to 1.1122. Its retracement zone at 1.1516 to 1.1609 is the next upside target area and potential resistance. The new minor range is 1.1122 to 1.1483. Its retracement zone at 1.1303 to 1.1260 is the nearest downside target and potential support. Daily Swing Chart Technical Forecast The direction of the EUR/USD on Monday is likely to be determined by trader reaction to 1.1448. Bullish Scenario A sustained move over 1.1448 will indicate the presence of buyers. This could lead to a labored rally with the first target a Fibonacci level at 1.1474, followed by a main top at 1.1483. Taking out this level will change the main trend to up and could trigger a fast surge into a 50% level at 1.1516. This is a potential trigger point for an acceleration to the upside. Story continues Bearish Scenario A sustained move under 1.1448 will signal the presence of sellers. The first downside target is a 50% level at 1.1407. This is a potential trigger point for an acceleration to the downside with the next major target zone coming in at 1.1303 to 1.1260. 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: Gold Markets Trying to Break Out Gold Prices Edge Higher Ahead of U.S. Inflation Data Bud Light Partners Nouns DAO for Super Bowl Ad Canadian Arm of KPMG Adds Bitcoin and Ethereum to Its Treasury Bitcoin and Ether Turn Green, Why XRP Could Surge To $1 US Dollar Sitting on Major Figure || Bitwells Launched 100% Deposit Bonus and 100x Leverage on Crypto Trading: Bitwells Launched 100% Deposit Bonus and 100x Leverage on Crypto Trading VICTORIA, SEYCHELLES, Feb. 25, 2022 (GLOBE NEWSWIRE) --Bitwells, a popular cryptocurrency derivatives exchange, has launched a100% deposit bonusactivity for every user. 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While on Bitwells, if you invest in 1 BTC at the same price with 100x leverage, and the Bitcoin price drops to $37,000, you will get an amount of ($42,000 - $37,000) *100 BTC = $500,000, making the ROI of 1000%. Know More about Bitwells Trusted by more than 200K traders in over 200 countries/regions around the world, Bitwells is a futures trading platform focusing on the Bitcoin market, providing 100x leveraged future trading of mainstream digital currencies like BTC, ETH, LTC, XRP, EOS, etc. No KYC, no deposit fees, App and PC available, traders can get the most attentive services including 24/7 customer support. Moreover, it is also known for the following advantages: • 100X leverage: For going long or going short, this option gives traders the versatility they need. • 100% deposit bonus：To welcome new users and thank regular users, each user is eligible to get the 100% deposit bonus for each deposit. • No KYC and high security: Bitwells highly respect user privacy and security. 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Social Links Twitter:https://twitter.com/bitwells Telegram : https://t.me/Bitwells Facebook :https://www.facebook.com/Bitwells Media Contact Company: BITWELLS Co., Ltd Contact: Jeniffer Butler Email: [email protected] Website:https://www.bitwells.com/ Disclaimer : There is no offer to sell, no solicitation of an offer to buy, and no recommendation of any security or any other product or service in this article. Moreover, nothing contained in this PR should be construed as any recommendation. Readers are encouraged to do there own research. || NZD/USD Strengthens Over .6607, Weakens Under .6588: The New Zealand Dollar is edging higher early Monday following a steep sell-off the previous session. A successful test of a minor support area combined with a slight increase in demand for riskier assets is helping to give the Kiwi a small boost. Volume is on the light side with New Zealand on a bank holiday. At 07:04 GMT, the NZD/USD is trading .6628, up 0.0014 or +0.21%. On Friday, the NZD/USD was on the defensive after a staggeringly strong U.S. payrolls report added to the risk of faster rate hikes there and sent bond markets reeling. Perhaps keeping a lid on the Forex pair is the news that the markets are now pricing in a one-in-three risk the Federal Reserve could hike by a full 50 basis points in March and have rates approaching 1.5% by year end. The Reserve Bank (RBNZ) is expected to announce a 25 basis point rate hike at its monetary policy meeting on February 23. Daily NZD/USD Daily Swing Chart Technical Analysis The main trend is down according to the daily swing chart. A trade through .6891 will change the main trend to up. A move through .6529 will signal a resumption of the downtrend. The minor trend is also down. A trade through .6684 will change the minor trend to up. This will shift momentum to the upside. The minor range is .6529 to .6684. Its retracement zone at .6606 to .6588 is support. This area stopped the selling at .6590 on Friday. On the upside, the nearest resistance is a pivot at .6670. The short-term range is .6891 to .6529. Its retracement zone at .6710 to .6753 is the major resistance area. Daily Swing Chart Technical Forecast The direction of the NZD/USD on Monday is likely to be determined by trader reaction to .6607 and .6588. Bullish Scenario A sustained move over .6607 will indicate the presence of buyers. If this move generates enough upside momentum then look for a surge into .6670, followed by .6684. Bearish Scenario A sustained move under .6588 will signal the presence of sellers. If this move creates enough downside momentum then look for a potential acceleration into the main bottom at .6529. 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: $39.2 Million in Ethereum Raised in 5 Days to Free WikiLeaks Founder USD/JPY Struggling at 114.909 – 115.248 Retracement Zone Decentraland Hosts First Ever U.S Metaverse Wedding Trade Through 95.70 Confirms US Dollar’s Reversal Bottom Hard Asset-Backed Bitcoin ETFs Remain An Elusive Future Crypto Community Reacts to Buzzfeed “Doxxing” BAYC Founders || Block Nets $1.18B While Coinbase Revenue Crosses $2.5B in Q4 ’21: • Block’s overall revenue crossed $1.18 billion while its Bitcoin revenue for the year almost hit $2 billion • Coinbase, on the other hand, witnessed a year on year growth of 676%, with revenue touching $4 billion • Bitcoin played a significant role in both the companies’ revenue this year While the world dabbles about the merits and demerits ofcryptocurrencies, crypto companies continue to provide solid answers.Bitcoin-based revenue of both the companies exceeded expectations in the last quarter of 2021 Block(previously Square) and Coinbasepostedtheir fourth quarter’s financial report for 2021. CashApp, the payment service from Block, managed to rake in a gross profit of $518 million which marked a 37% year-on-year increase. On the other hand, the Cash Card witnessed over 13 million actives in December, which accounted for 30% of their monthly 44 million transacting active base. This revenue added to the company’s overall gross profit of $4.4 billion for the entire year, significantly higher than the 2020s $2.73 billion marking a 62% YoY increase. CashApp, on the other hand, registered a gross profit of $2.07 billion, 69% higher than the previous year’s $1.23 billion. Block also stated that Bitcoin revenue almost touched $2 billion in the fourth quarter and crossed $10 billion in the entire year, significantly growing from the previous year’s $4.5 billion. Coinbase, on the other hand, while having a good year,witnesseda decrease in Bitcoin and crypto-based transactions. Of the $1.6 trillion of volume traded throughout the year, Bitcoin only accounted for 24% of it ($401 billion). This figure was quite a reduction compared to the previous year’s 41%. Although the total volume did increase, the contribution came down. Regardless the company had a successful year of transactional revenue, making $6.8 billion. Compared to 2020s $1.096 billion, 2021 witnessed a 523.8% growth. Looking at the profits of such crypto companies in the fourth quarter is surprising since the crypto market had a rather interesting end to the year. Between October to December 2021, the market first rallied by 47.57%, during which the overall market cap rose by $935 billion. However, halfway through November, the market took a turn for the worse and slipped by 24.71% by December 31, causing a loss of $717 billion. Nevertheless, even at $2.185 trillion, the market registered a 193.23% ($1.44 trillion) rise in 2021. Thisarticlewas originally posted on FX Empire • Elon Musk Rumored to Buy Bored Ape NFT Worth 569 Ethereum • Natural Gas Markets Ready to Fall Again • Euro Bounces From Big Figure • British Pound Sinks for Most of Week • British Pound Shows Tentative Stability • British Pound Pulls Back Below ¥155 Against Yen for the Week || US DOJ Seizes $3.6 Billion Worth in Bitcoin Linked to 2016 Bitfinex Hack: The US Department of Justice (DOJ) has launched what seems to be the largest financial seizure ever related to cryptocurrencies. According to The Washington Post , the authorities seized $3.6 billion worth of digital assets linked to a hack on the crypto exchange Bitfinex made in 2016. As a result, Ilya Lichtenstein, 34, and his wife, Heather Morgan, 31, were arrested and charged with conspiring to launder money. In fact, 119,754 Bitcoin ( BTC ) were stolen in the hacking incident, where the threat actors deployed a series of 2,000 unauthorized transactions. Arrested People Claim to Have Spent Just a Portion of the Stolen BTC However, feds only managed to recover around 94,000 BTC from the heist. “Cryptocurrency is not a safe haven for criminals. (…) Thanks to the meticulous work of law enforcement, the department once again showed how it can and will follow the money, no matter the form it takes,” Lisa O. Monaco, Deputy Attorney General, commented on the operation. Per the profile of the people of interest involved in the investigation, Lichtenstein claims to be an “angel investor” and holds both US and Russian citizenship. Also, authorities said that the couple had said that both spent just a small fraction of the money. “We have been cooperating extensively with the DOJ since its investigation began and will continue to do so,” Bitfinex highlighted in a statement in the wake of the announcement. In addition, the exchange announced that it would follow “appropriate legal processes” to try to recover the stolen Bitcoin. Stolen Funds Moved Early This Month Part of stolen Bitcoin from the 2016 Bitfinex hack were recently transferred to an anonymous wallet, as FXEmpire reported. In a series of Tweets from Whale Alert, it was known that the transfers started with fewer amounts, with the first transfer worth one BTC of stolen funds transferred. However, the next transfer of 10,000 BTC, equivalent to $383,540,711, was soon sent to an unknown wallet. Story continues This article was originally posted on FX Empire More From FXEMPIRE: U.S Treasury Calls for Banks to Take Control of Stablecoins E-mini Dow Trade Through 35590 Changes Main Trend to Up Bitcoin (BTC) Finds NASDAQ 100 Support to Buck Crypto Trend Best Stocks to Buy Now for February 2022 European Equities: German Trade Data in Focus Silver Prices Moved Higher for Third Consecutive Trading Session || World Blockchain Festival Will Be a 100% Immersive Crypto Experience: World BlockChain Festival 2022 SAN SALVADOR, El Salvador, March 11, 2022 (GLOBE NEWSWIRE) -- World BlockChain Festival's first edition will be held on April 21, 22 and 23, 2022 at the Salamanca Events Center in the capital of El Salvador, organized by Spartan Hill, a Colombian company in the technology sector and development of Blockchain projects with presence in El Salvador. Participants will have immersive experiences in the metaverse; Hackathon meetings will be held, a space for collective work with the aim of developing applications collaboratively in a short time, in addition, those interested in NFTs will be able to participate in auctions of unique pieces. The event will bring together important exponents such as Philip Ong, a businessman from Singapore and founder of the OGGO system, who, encouraged by the officialization of bitcoin as legal tender, proposed to Salvadoran President Nayib Bukele an investment that will make El Salvador much more productive in terms of technology and other items, its projections also include the creation of a university, a cryptocurrency academy, food and water security projects, among other projects that will positively impact the social and economic environment of this country. There will also be the participation of Indira Kempis, a Mexican senator, who is working on a cryptocurrency bill based on El Salvador's "Bitcoin Law", an initiative to achieve the adoption of bitcoin in Mexico and thus promote financial inclusion in this country. As part of the panel of speakers is Mónica Taher, Director of International Technological and Economic Affairs of El Salvador, technology entrepreneur and investor in fintech and artificial intelligence startups and international speaker. She has worked in the business and marketing industry with international companies and some governments. Juan Diego Gómez, is a Business Administrator with a postgraduate degree in Finance, founder and CEO of Invertir Mejor, a financial education company focused on investment in foreign exchange markets, Commodities and shares; financial coach, speaker; with a community of more than 1 million followers on their social networks. Events such as the World Blockchain Festival will make it possible to understand the opportunities that the blockchain ecosystem and cryptocurrencies represent for the global economy, as is the case of Central American countries that are working on the transition to a decentralized ecosystem so that users have access to a new economic model. To learn more about the World Blockchain Festival and attend this event, visit its website and official networks: Web:https://www.wblockchainf.com/homeInstagram:https://www.instagram.com/wblockchainf/Facebook:https://www.facebook.com/worldblockchainfestivalTwitter:https://twitter.com/WblockchainF Media Company: Cryptocubics /World Blockchain FestivalMedia Name: JC Luna / HexMentorMedia Phone: +1 305.506.0800Media Email: [email protected] Related Images Image 1: World BlockChain Festival 2022World BlockChain Festival 2022 This content was issued through thepress release distribution service at Newswire.com. Attachment • World BlockChain Festival 2022 || SmithWorldToken develops Smith Dividend Protocol and Smith World Development for its invaluable clients: ETKAAN LIMITED SmithWorldToken is a new, decentralized deflationary token that pays holders in BITCOIN using Smith Dividend Protocol (SDP) formula. The exclusive crypto platform is the World's FIRST Dividend Protocol that Let HOLDERS generate in BITCOIN. General Santos City, Philippines – ( Newscall PR - March 31, 2022) - SmithWorldToken is a rising, decentralized deflationary token with numerous crypto benefits for its investors. The platform pays holders in BITCOIN using Smith Dividend Protocol (SDP) formula. The World's FIRST Dividend Protocol lets HOLDERS generate in BITCOIN. Smith Dividend Protocol is the main feature of Smith World Token; SDP serves to provide returns in BITCOIN for holders who choose to hold a $Smith token. In this way, holders can enjoy Bitcoin income and growth of the $Smith token. SDP works by injecting the dividend protocol directly into the BTCB contract allowing the mechanism to execute automatic earnings in Bitcoin (BTCB). Smith World Development serves as a vehicle for Bitcoin lovers and those who want to collect more Bitcoins for their future value. Automatic LP - 2% of all transactions of the $Smith token from day one are injected automatically into the liquidity pool to ensure the stability and growth of its feature value. Black Hole - 2% of all transactions of the $Smith token are automatically burned, reducing the overall token supply and increasing the token's value. Universal Fund Wallet - The Universal Fund serves as a treasury to support the $Smith token in marketing, development, buyback, listing, and creation of 10 sub tokens. All Smith tokens traded from day one (1), 2% of all transactions are injected automatically into the liquidity pool to ensure the stability and growth of its feature value. SDP works by injecting the dividend protocol directly into the BTCB contract allowing the mechanism to execute automatic earnings in Bitcoin (BTCB). The SDP Auto-Dividend Protocol feature is a simple, yet cutting-edge function called Buy-Hold-Earn that provides the ultimate ease of use for Smith World Token holders. Story continues Buy-HODL-Earn: By simply buying and holding the SmithWorld token in your wallet, you can earn unlimited Bitcoin rewards as interest payments directly into your wallet. Enjoy SmithWorldToken Value Overtime Automatic Liquidity - All Smith tokens traded from day one (1), 2% of all transactions are injected automatically in the liquidity pool to ensure the stability and growth of its feature value. Moreover, the Defi Space has exploded exponentially in recent months, including yield farming, staking, cloud mining, minting, reflection, and NFT games. All these concepts have taken to space of DeFi by storm. However, most of these concepts have failed due to impermanent loss (IL) and adding in 1 pool which results from pumping and dumping tokens. As the founders move along with their SmithWorld Projects, they will create progressively subtokens to support its mother token and realize its most acceptable value. Some of those tokens are featured as Dividend Protocol in which it will be injected into SmithWorld Contract to pay holders in SmithworldToken . With this fantastic concept, the founders expect the SmithWorld token will have its part in the crypto space as one of the leading Bitcoin Collector Tokens. Potential users and determined clients can visit the website for further information and avail their Private Sale on this link: https://forms.gle/YJVvutWVEPrdVq3X6 . Join the community on Twitter or Telegram . Disclaimer: The information provided in this release is not investment advice, financial advice, or trading advice. It is recommended that you practice due diligence (including consultation with a professional financial advisor before investing or trading securities and cryptocurrency. [Random Sample of Social Media Buzz (last 60 days)] None available.
Trend: down || Prices: 45555.99, 43206.74, 43503.85, 42287.66, 42782.14, 42207.67, 39521.90, 40127.18, 41166.73, 39935.52
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 2015-07-15] BTC Price: 285.83, BTC RSI: 61.39 Gold Price: 1147.20, Gold RSI: 36.26 Oil Price: 51.41, Oil RSI: 32.09 [Random Sample of News (last 60 days)] The Future of Bitcoin; the Opportunity and Obstacles: POINT ROBERTS, WA and NEW YORK, NY --(Marketwired - June 04, 2015) - Investorideas.com, a global news source covering leading sectors including Bitcoin and payment technology releases commentary from some of the leading digital currency experts along with management from two public plays within the sector. As Wall Street and global financial markets enter the space, these experts give insight into the future of Bitcoin and the obstacles and the opportunities it presents. The following are questions and answers from the participating experts; Brian Kelly, author of the book "The Bitcoin Big Bang" www.briankellycapital.com , David Berger,Founder and CEO, Digital Currency Council (DCC) , Mr. Brad Moynes, President of Bit-X Financial Corp. and Michael Sonnenshein, Director of Sales & Business Development, Bitcoin Investment Trust (OTCQX: GBTC) . Interviews: Brian Kelly Q: Investorideas.com You have said you were a skeptic like many in the beginning and now you are a respected expert in the sector. With recent acceptance from The New York Stock Exchange, Nasdaq Stock Exchange, Goldman Sachs, Richard Branson and a list of new entries every day, what do you see as the turning point for Bitcoin becoming legitimate? A: Brian Kelly, author of the book "The Bitcoin Big Bang" It seems that financial institutions finally realized that Bitcoin and the blockchain is more than a currency. They realized it is a tool to flatten the costs of financial services. Q: Investorideas.com Do you see many publicly-traded stocks in play now and are you hearing of IPO's in the space? A: Brian Kelly, author of the book "The Bitcoin Big Bang" I would expect IPOs in the next 3 years. If we use internet companies in 1995 as a template, it took about three years for major IPOs. Q: Investorideas.com With the major financial institutions now getting involved, where do you see Bitcoin headed in the next few years and how will it impact the future of currency? A: Brian Kelly, author of the book "The Bitcoin Big Bang" A year ago the survival of Bitcoin was 50/50...with recent investments it's clear that blockchain technology is here to stay. David Berger Q: Investorideas.com Can you give us background on the creation of the Digital Currency Council (DCC) and why you formed it? A: David Berger , Founder and CEO, Digital Currency Council (DCC) The early mission of The Digital Currency Council was to set a common standard of understanding amongst professionals and help those professionals achieve that standard. Today, our over 1500 members across 90 countries are using the knowledge they've gained to build various exciting businesses and streamline existing business processes. Our software is integral to these more complex efforts. Story continues Q: Investorideas.com With a primary focus of education, what kind of individuals and companies are you seeing come forward to understand Bitcoin and what percentage of the financial community at large do you think is getting involved now? A: David Berger , Founder and CEO, Digital Currency Council (DCC) We are at the very beginning. Most individuals and firms have a very limited understanding. Our work with these individuals and firms begins with general competency training. These general competencies are sufficient to ensure that a firm is aware of the opportunities and risks. Our customized software solutions help those firms that recognize an opportunity to capitalize. Q: Investorideas.com What do you see as the primary obstacles to the acceptance of digital currency? A: David Berger , Founder and CEO, Digital Currency Council (DCC) It's important that we ensure that bad actors don't hijack this groundbreaking technology. The general public will accept and adopt technologies that make their lives better but only if they trust that the risk doesn't outweigh the benefit. Q: Investorideas.com What do you see for Bitcoin within the next year and over the next 5 years? A: David Berger , Founder and CEO, Digital Currency Council (DCC) The next five years will bring increased integration, complexity, and utility. Bitcoin will become so easy to use that you won't even realize you're using it. Brad Moynes Q: Investorideas.com What do you think was the turning point for making Wall Street and the financial institutions take notice and want to participate in Bitcoin? A: Mr. Brad Moynes, President of Bit-X Financial Corp. The opportunity to develop technology that could make financial institutions including stock exchanges, broker-dealers, banks, transfer agencies and the DTC more efficient and less costly to reporting issuers, investors and consumers would be considered by Wall Street as a really good thing. The fact that DNCT (blockchain) technology has the potential to achieve this and that many of these institutions have already invested considerable capital into the technology at the fastest rate to date, suggests that the turning point has already occurred. In addition, the recent announcement that the NYDFS has released the final version of its long-awaited regulatory framework for digital currency companies shall provide clarity to the industry as a whole and ease concern regarding over-regulation and the threat of stifling growth and innovation. Q: Investorideas.com What do you think are some of the hurdles and obstacles for Bitcoin? A: Mr. Brad Moynes, President of Bit-X Financial Corp Perhaps over regulation. Bitcoin appears to be holding its value at current levels and the Blockchain is gaining considerable awareness across a broad selection of industries. I would expect many hurdles & obstacles along the way but with big break-through ideas later this year and in 2016 to look forward to. Q: Investorideas.com Will your exchange, when launched, offer any educational tools for trading and investing in Bitcoin? What kind of investors/traders do you see currently in the space and do you see the demographics changing? A: Mr. Brad Moynes, President of Bit-X Financial Corp. The exchange will offer our users the tools they need to buy & sell crypto-currencies including Bitcoin. Our customer service will be the best in the business with rapid response time to meet user demands, answer questions and provide solutions. We will also have a Bitcoin forum for users to create various discussion topics. Generally these forums are an excellent way for users to gain information and educate among themselves. There are several investor/trader profiles which include day-traders, medium to long-term investors seeking capital gains and entities who offer investor's exposure to Bitcoin via open market equity-share purchases that tie their shares to an underlying asset [bitcoin] on a pre-determined ratio basis. A beneficial change to the demographic would be an increase in demand for bitcoin in day-to-day use and consumer point of sale purchases. Michael Sonnenshein Q: Investorideas.com The Bitcoin Investment Trust's shares are the first publicly quoted* securities solely invested in and deriving value from, the price of Bitcoin. Can you tell investors how investing in the shares of (GBTC) will give them a different value/investment opportunity than strictly trying to buy and sell Bitcoin? A: Michael Sonnenshein, Director of Sales & Business Development, Bitcoin Investment Trust (GBTC) Purchasing Bitcoin outright can be a harrowing experience for investors. More often than not, they don't know who to purchase Bitcoin from (are there counterparties they trust), what price they should pay, or how to handle Bitcoin safely and securely. Even if investors can overcome these challenges, storing Bitcoin on one's own can be a liability. If Bitcoin holders are hacked or lose the private key to their Bitcoin wallet, they have zero recourse. In sharp contrast to this experience, purchasing shares of The Bitcoin Investment Trust gives investors the ability to gain exposure to Bitcoin without the aforementioned challenges and through a titled security in the investor's name. Consequently, shares are eligible to be passed onto beneficiaries under estate laws and are eligible to be held in certain IRA, Roth IRA, and other brokerage and investment accounts (this is not possible with outright Bitcoin). The Bitcoin Investment Trust has also brought together credible service providers, as shares are marketed and distributed through a FINRA-registered broker-dealer, and the Trust's financial statements are audited annually by Ernst & Young LLP. Each share of The Bitcoin Investment Trust represents approximately 0.1 Bitcoin and shares are tied to a daily 4pm net asset value that is representative of the Bitcoin market price. Qualified accredited investors have the ability to purchase shares of The Bitcoin Investment Trust at the daily NAV through an ongoing private placement. However, these shares carry resale and transfer limitations. Both accredited and non-accredited investors have the ability to purchase shares of The Bitcoin Investment Trust on OTCQX under the symbol: GBTC. These shares have been deemed freely tradable and are subject to market-driven price movement, which does not reflect the restricted shares daily NAV. In offering these two avenues for investors, their Bitcoin exposure is able to sit alongside their existing investments and their exposure to Bitcoin is attained through a transparent and familiar experience. Additionally, as a titled security, The Bitcoin Investment Trust has resonated well with investors' financial advisors, lawyers, and accountants. More information on The Bitcoin Investment Trust is available through its sponsors website, www.grayscale.co Q: Investorideas.com Where does the company see the Bitcoin industry now as Wall Street has begun to embrace it and what was the turning point that legitimatized Bitcoin? Where do they see the future of Bitcoin1-5 years from now? A: Michael Sonnenshein, Director of Sales & Business Development, Bitcoin Investment Trust (OTCQX: GBTC) Bitcoin is still in infancy and we'd liken where Bitcoin and digital currencies are in their development to the internet in the mid-to-late 1990's. Namely, just like there were plenty of naysayers who didn't believe in the internet's potential, there are folks who occupy that same mindset when it comes to Bitcoin. While we can't be sure of Bitcoin's ultimate fate, we can see is that there is an unprecedented amount of venture capital and human capital pouring into the space. Entrepreneurs are building the infrastructure and applications that will support Bitcoin's continued adoption and usage globally. Over the past two years, there has been increasing attention paid to Bitcoin from Wall Street. Every bank, broker-dealer, asset manager, and other institution had formed internal task forces assigned to understanding Bitcoin. Recently, many of these firms (and the work of these internal teams) have begun putting their reputations on the line by publicly getting involved in Bitcoin with the likes of Goldman Sachs, UBS, Nasdaq, the NYSE, and other globally recognized institutions integrating Bitcoin into their businesses and/or making strategic investments in some of the aforementioned companies laying the ground work for increased adoption. I think we will continue to see more of these large players get involved in the space over the coming years and that Bitcoin and the underlying blockchain technology will ultimately shake up and transform the entire financial services landscape for the better. Bios: Brian Kelly www.briankellycapital.com Brian Kelly is an investor, author, and financial markets commentator. He is an expert in global financial markets, macro-economics and digital currencies. Brian Kelly has over twenty years' experience in financial markets and is the author of the book "The Bitcoin Big Bang -- How Alternative Currencies are About to Change the World." Brian is a graduate of the University of Vermont where he received a B.S. in finance. He also holds an M.B.A. from Babson Graduate School of Business with a concentration in finance and econometrics. A passion for investments and entrepreneurship has led Brian to start several successful investment businesses. His most recent start-up BKCM LLC is a global investment management firm specializing in Global Macro and Currency investing. Prior to BKCM LLC, Brian was Co-Founder and Managing Partner of Shelter Harbor Capital LLC and managed the Shelter Harbor Capital Global Macro Hedge Fund. As well, Mr. Kelly was a co-founder and President of MKM Partners, a brokerage firm catering to institutional investment managers. Brian provides money management services to a select clientele and consults on digital currencies. David Berger, Founder and CEO, Digital Currency Council (DCC) David Berger is the Founder and CEO of The Digital Currency Council (DCC), the leading provider of digital currency-related training, certification, and continuing education. Mr. Berger is an attorney with extensive experience in finance in the United States and Asia. He has a passion for building professional networks that support members' advancement with actionable commercial insight. Prior to launching the DCC, Mr. Berger was the CEO of Americas at Campden Wealth, the parent company of the Institute for Private Investors -- the premier decision support network for ultra high net worth investors and family offices. Mr. Berger is also the founder of Private Investor Collective, a Hong Kong-based network for sophisticated private investors, and played a key role in the development of two network-based advisory firms for CEOs in Asia Pacific. He also founded Asia Executive Solutions, a Hong Kong-based strategy consulting firm, where his clients included SecondMarket, Corporate Executive Board, and NPD Group. Prior to his career in finance, Mr. Berger was an attorney in the Washington, DC office of the global law firm O'Melveny & Myers LLP, where he focused on securities law. Mr. Berger also spent two years at the United States Department of Justice. He is a graduate of New York University School of Law and Emory University. About BIT-X: Bit-X Financial Corp is a Vancouver; British Columbia based Company listed on the OTC.QB under the trading symbol BITXF. Bit-X Financial Corp is a reporting issuer in the Province of British Columbia, Canada with the British Columbia Securities Commission "BCSC" and in the United States with the Securities Exchange Commission "SEC." www.bitxfin.com About The Bitcoin Investment Trust (OTCQX: GBTC) The Bitcoin Investment Trust is a private, open-ended trust that is invested exclusively in Bitcoin and derives its value solely from the price of Bitcoin. It enables investors to gain exposure to the price movement of Bitcoin without the challenge of buying, storing, and safekeeping Bitcoins. The BIT's sponsor is Grayscale Investments, a wholly-owned subsidiary of Digital Currency Group. About Investorideas.com InvestorIdeas.com newswire is a global investor news source covering multiple sectors including Bitcoin and payment technology. Follow Investorideas.com on Twitter http://twitter.com/#!/Investorideas Follow Investorideas.com on Facebook http://www.facebook.com/Investorideas Sign up for free news alerts at Investorideas.com http://www.investorideas.com/Resources/Newsletter.asp Disclaimer/ Disclosure: The Investorideas.com newswire is a third party publisher of news and research as well as creates original content as a news source. Original content created by investorideas is protected by copyright laws other than syndication rights. Investorideas is a news source on Google news syndication partners. Our site does not make recommendations for purchases or sale of stocks or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated by featured companies, news submissions, content marketing and online advertising. Contact each company directly for press release questions. Disclosure is posted on each release if required but otherwise the news was not compensated for and is published for the sole interest of our readers. Disclosure: BITXF is a PR client of Investorideas.com and compensates us for news publication, PR and media. (two thousand five hundred per month and 144 shares ) More info: http://www.investorideas.com/About/News/Clientspecifics.asp and http://www.investorideas.com/About/Disclaimer.asp BC Residents and Investor Disclaimer : Effective September 15 2008 -- all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894 . Global investors must adhere to regulations of each country. View comments || Marathon Predicts Greece's 'Yes' Vote, Tsipras Out Next Month: With every passing minute, the Greece debt crisis seems to take a new turn. According to latest reports, the Greek government is seeking a last-minute deal from the eurozone. However, according to Bruce Richards, CEO of Marathon Asset Management, regardless of what happens, Greek Prime Minister Alexis Tsipras will be out soon. Richards was a guest on Wall Street Week's latest edition. He was again on Wall Street Week's 'Web Extra' recently to discuss the Greece debt crisis and the best case scenario for the country in the next few weeks. Getting Very Dire "Thirty days from now – Syriza party, which is Alexis Tsipras, who is the prime minister, probably won't be in office," Richards began. "He has taken the country to a point of brink where hopefully there's a point of return in terms of its economy turning around. But right now, it's getting very dire." Related Link: Has Greece Had Its "Lehman Moment?" The Best Case Richards was asked his best case scenario for this crisis in the next few weeks. He replied, "So, what I think happens: There is a small probability he (Alexis Tsipras) resigns, small probability he strikes a deal. What's most probable is, you go to a referendum on Sunday, referendum that the people want to vote for. If the people vote yes, that is a very positive thing for Europe, it's a very positive thing for Greece and that's the base case." He continued, "But over the course of the week, we are going to see all these polls come and we will see the polls come in at 70 percent or 78 percent or maybe it drops down to 65 percent. One poll is different from another poll. But I believe at the end of the day, they are going to vote the rational vote." Related Link: Bitcoin Rises As Greece Falls...Coincidence? Tsipras Is Out Either Way "Greek people are smart; they are good business people, and they are going to vote for the most sane economic program for Greece, which is to stay on the euro. And if that were to happen, then that's a vote against the party of Syriza and Alexis Tsipras and so he's probably out either way," Richards concluded. Story continues Image Credit: Public Domain See more from Benzinga Southern Co, The Supreme Court Ruling On EPA Regulations And Congress' Role In Policy Juno Therapeutics CEO Weighs In On Celgene Partnership, T-Cell Innovations Dupont Desires Continued Trian Relationship, Despite Rejecting Seats On The Board © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || CCEDK and Bit-X Release Nanocard: The First True Crypto-Debit Card: CCEDK has announced that it is coming out with its own Bitcoin debit card BLOKHUS, DENMARK / ACCESSWIRE / July 13, 2015 / In addition to strictly storing the funds as Bitcoin or USD, the user will have the option to store their money as a BitShares BitAsset. Also referred to as SmartCoins, they would be pegged to the value of the dollar or another major currency. "A new generation of 2.0 coins is being used to address the volatility issue. BitShares' SmartCoins will be available as funding options for the NanoCard in the coming months, meaning that customer balances can be safely stored as crypto coins pegged to USD, EUR, CNY or even gold and silver, and converted only at the time of use," explained CEO Ronnie Boesing. This is a fundamentally lacking feature in many card programs available to Bitcoiners, although Bitreserve has come along way to deal with the problem of volatility. The new card will be called the NanoCard and will be broadly available to customers of the exchange beginning today. The NanoCard is a collaboration between Danish bitcoin exchange CCEDK and forex platform Bit-x , which aims to show how virtual currencies are finally coming of age. Ronnie Boesing believes that something like the NanoCard could be a "killer app" for Bitcoin, saying. "Bit-x, CCEDK, Cryptonomex, BitShares: each provides a part of the puzzle and the result is bitcoin's killer app." However, there are a number of other Bitcoin debit cards out there, including some that allow the user to receive part of their pay in Bitcoin, and then still have access to the funds for spending even after the conversion to bitcoin. Regardless, those at CCEDK were excited to r e lease a debit card for their traders to make use of. According to CEO Mr. Boesing, "We have combined the strengths of digital currencies pioneered by bitcoin with the universal acceptance of major credit cards. It's the combination of technologies that makes the NanoCard so powerful. We are extremely proud to have partnered with Bit-x after just a year in business. The result is perhaps the world's first true crypto-debit card. No one can tell you how to use your own money and thanks to Bit-x this will be accepted everywhere." Additionally, CCEDK is partnering with Cryptonomex in order to provide new security measures to protect funds and trading. Part of what Cryptonomex will do is create auditing and transparency layers for CCEDK's customers to have an opportunity to verify what's on the exchange. Transparency is an element of strength for any exchange, as the Bitcoin community learned, through events like Mt. Gox, what a severe lack of transparency can do. "You won't have to worry about our exchange being hacked or whether it is honest or solvent," explains Boesing. Story continues Contact CCEDK | Crypto Coins Exchange Denmark Aps: Ronny Boesing +45-36-98-11-50 [email protected] Tyttebærvej 6, Hune, DK-9492 Blokhus Denmark SOURCE: CCEDK.com View comments || Danish Firm CCEDK Set to Revolutionize Cryptocurrency Industry: BLOKHUS, DENMARK / ACCESSWIRE / June 16, 2015 / CCEDK.com, a leading Danish cryptocurrency exchange, has just demolished the final barriers to mainstream acceptance of crypto currencies. "We have combined the strengths of digital currencies pioneered by Bitcoin with the universal acceptance of major credit cards," said Co-Founder & CEO Ronny Boesing. "In the process we have eliminated most of the biggest drawbacks of the two systems. This summer, consumers really can have it all!" Quickly warming to his topic, Boesing went on to say, "We are now able to offer our customers a single, seamless, integrated solution combining Internet money, peer-to-peer payment, and instant international money transfers. Someone on the far side of the planet can wire digital currencies to your debit card in the time it takes to swipe that card at your local merchant." "It's like having your savings, checking, and trading accounts in the palm of your hand, accessible from anywhere in the world – at the speed of light – with dramatically lower fees than banks and exchanges have ever been able to offer." CCEDK.com has become the first exchange in the world to make its books completely transparent – using the same public ledger philosophy that made Bitcoin so successful. "You don't have to worry about our exchange being hacked or whether it is honest or solvent. Everything about our new accounts will be an open book and you control the keys to your own funds, even while they are on our exchange," according to Mr. Boesing. This is game changing. Boesing checked off the notoriously hard problems it solves. It took all ten fingers. Speed: Wiring money takes many days in the current banking system. We let you send it anywhere in the world in one second. Trust: Your money goes directly from you to its destination, no middlemen ever get control of your money. That includes us. Flexibility: You can store your money in any mix of the top national and digital currencies. And you can change that mix in one second, as often as you like. Story continues Acceptance: You can spend your money instantly, anywhere major debit cards are accepted. We handle the conversions for you. Security: No one can freeze, seize, hack or attack your wealth. You are always in control and your identity can never be stolen. Privacy: Only those you authorize can see your accounts. We make our ledgers public for transparency, but you can keep yours private. Yield: You can earn better yields with less risk than any place else in the world. Stability: We offer stabilized second-generation digital assetss that have much lower volatility than first generation offerings like Bitcoin. Our SmartCoins can track the value of USD, EUR, CNY, Gold, Silver, Bitcoin and a growing number of other currencies and commodities. Smart Contracts: You can program financial transactions to happen automatically when agreed upon conditions are met. No need to trust anyone, because our system enforces the agreement for both sides. Program recurring payments or even key parts of your own estate's will. Multi-Signature Accounts: Share control over accounts with friends, family, and business associates in a completely accountable way. Nobody has ever been able to combine all these features in one place until now. Folks used to have to trade the problems of today's highly centralized financial system for the problems of the digital currency world. Not any more. CCEDK has combined the advantages and eliminated the disadvantages of both systems. How did CCEDK score this first-of-a-kind coup? "Strategic teaming," beamed Boesing, "Two of the most innovative partners in the industry have joined us to achieve what none of us could have done separately." "We start with our own EU-based international exchange in Denmark, which went live more than a year ago. CCEDK.com offers buy and sell options for digital currencies in a secure environment on the base of two-factor authentication (2FA) with 24/7 worldwide customer support. We span three continents and 17 languages so far. We offer anonymous trading of some 85+ crypto pairs based on BitUSD, Bitcoin, Litecoin, BitShares, NuBits, NuShares, Dogecoin, Darkcoin, Nextcoin and Fimkrypto as well as a 50+ Fiat pairs with validation." "Next, CCEDK joined forces with licensed Forex participant Bit-x.com to offer the NanoCard . This is a partnership with no limitations, and as a result we are really proud after only one year in the industry to have the opportunity to offer an impressive project like this, the crypto currency community's perhaps first true crypto debit card 2.0 provided by NanoCard and banking partners," grinned Boesing. It will be accepted everywhere – no need to convince merchants to use your favorite cryptocurrency. Now, Cryptonomex.com has joined the team. They are the developers behind the leading second-generation family of cryptocurrency products known as BitShares. "This relationship provides us with deeply integrated access to the BitShares 2.0 network allowing industrial grade digital currency transactions several thousand times faster than Bitcoin," said Boesing. "Using the BitShares platform also gives CCEDK the ability to share its order books and services with future partner exchanges and digital asset providers to achieve deeper markets, tighter price spreads, and a growing suite of innovative products and services." In this rapidly evolving industry, success is all about network effect. By placing their ledgers on the open BitShares network, CCEDK has positioned itself for rapid growth toward leading the most lucrative and trusted network of exchanges on the planet. "Exchanges with closed order books are going the way of the dinosaur," opined Boesing. "Next year, if an exchange is not on an incorruptible, transparent, decentralized, open public ledger like ours, it might not even be in this business." ### Contact CCEDK | Crypto Coins Exchange Denmark Aps: Ronny Boesing +45-36-98-11-50 [email protected] Tyttebærvej 6, Hune, DK-9492 Blokhus Denmark SOURCE : CCEDK.com || UK Lebanon Tech Hub Up And Running: The UK Lebanon Tech Hub was finally unveiled in Lebanon at the Beirut Digital Park, after British Ambassador to Lebanon Thomas Fletcher announced the program at the Banque du Liban Accelerate startup conference back in November 2014. Ambassador Fletcher said that he hopes that UK Lebanon Tech Hub could provide a “launch pad” for emerging tech startups , given the limited tech infrastructure available. The launch event, which featured speeches by Ambassador Fletcher and Central Bank Governor Riad Salameh, was met with an overwhelmingly positive response. Governor Salameh’s talk was incredibly promising for Lebanese entrepreneurs , given that the Central Bank pledged to play a major role in boosting local startups with their Circular 331 initiative. Some of Lebanon’s most promising tech startups now have the opportunity to take their endeavors to a global level with help from Britain’s top-notch infrastructure and training personnel. Prior to the official launch, some of Lebanon’s tech startups presented their businesses for the press, including Bitcoin-powered e-commerce payment platform Yellow payments, and mobile videogame developers Game Cooks. While some of Lebanon’s best up-and-coming startups will enjoy the boost that they deserve through this program, we could only hope that bringing out the potential in some of the country’s most talented entrepreneurs could finally make way for better tech infrastructure and facilities British Ambassador to Lebanon Thomas Fletcher and Governor of the Banque du Liban- Lebanon's Central Bank- Riad Salameh Source: UK Lebanon Tech Hub || MarilynJean Media Interactive (MJMI.qb) Announces Entry into Bitcoin and Crypto-Currency Space: HENDERSON, NV / ACCESSWIRE / June 10, 2015 /MarilynJean Media Interactive (MJMI) announced today it has expanded its operations into the crypto-currency market with a focus on bitcoin. The Company announced plans to pursue several verticals within the space including operation of a Bitcoin Exchange where users will be able to buy and sell bitcoins, as well as other popular crypto-currencies, and exchange their holdings into a range of international currencies. The Company is also developing plans to partner with a manufacturer of bitcoin Automated Teller Machines (ATMs) whose operation it plans to integrate directly with its trading platform allowing for a seamless, end to end solution for trading and currency conversion either online or in person at an ATM. The current market capitalization of bitcoins in circulation exceeds $3 billion. Simultaneously, the company is also planning to use its developing expertise and network in the bitcoin space to participate in the multi-billion dollar currency remittance market. The company plans to use the combination of a bitcoin exchange and ATMs to facilitate ultra-low-cost international remittance services. The World Bank projects global remittances to exceed $450 billion in 2015. Peter Janosi, the company's president said: "With major players across virtually every industry making big bets on crypto-currencies, and bitcoin in particular, we believe our timing is optimal to enter this exciting space. We look forward to updating our shareholders with our progress in building the company's expertise and partnerships in the industry over the coming months." A crypto-currency is a medium of exchange using cryptography to secure transactions and control the creation of new units. Bitcoin became the first decentralized crypto-currency in 2009. Crypto-currency is produced at a rate which is defined when the system is created and publicly known. By contrast, in centralized banking and economic systems, such as the Federal Reserve System, corporate boards or governments control the supply of currency by printing units or demanding additions to digital banking ledgers. However, neither companies nor governments can produce units of crypto-currency and as such the value of crypto-currencies are completely based on supply and demand, free from any governmental control. Many people believe crypto-currencies, and in particular bitcoin, hold the promise of being the most significant advancement in global finance in modern history. The advent of bitcoin creates a secure, easily accessible and transferable transnational currency that is completely liberated from political influence. Richard Branson, head of the Virgin Group, is quoted on his company's website as saying: "I have invested in Bitcoin because I believe in its potential, the capacity it has to transform global payments is very exciting." Heavyweight investment bank Goldman Sachs (NYSE:GS), announced on April 30th 2015 that it had partnered with Chinese investment firm IDG Capital partners to invest $50 million in a Bitcoin start-up. Numerous high-profile firms have begun accepting Bitcoin as a payment method including: Dell Inc. (NASDAQ:DELL), Dish Network Corp. (NASDAQ:DISH), Expedia Inc. (NASDAQ:EXPE), and Overstock.com (NASDAQ:OSTK). MarilynJean Media Interactive is among the first publicly traded companies focussed on bitcoin and the crypto-currency space. The company's trading symbol is MJMI.QB. Website:www.marilynjean.comPress Contact:[email protected] SOURCE:MarilynJean Media Interactive || Bitcoin Glitch Costs Miners Thousands: This weekend, bitcoin miners suffered a setback after it wasrevealedthat those running some software clients which were out of date were creating invalid blocks, or transaction records. The glitch gave miners the impression that they had earned bitcoins for adding to blockchain, when in actuality, the invalid blocks weren't accepted. Warning Bitcoin.org issued awarningregarding the invalid blocks over the weekend. The notice said that an initial invalid block has been built upon by other miners, who don't fully validate their blocks. The practice, called Simple Payment Verification (SPV) mining, has caused several large mining operations to loose more than $50,000 dollars in mining income so far due to the glitch. Related Link: Minecraft Teaches Kids To Use Bitcoin To combat the problem, Bitcoin.org recommended that all miners update to the latest software to ensure that the invalid blocks are detected. The site also encouraged those using Web-based wallets to make sure they are using the most up-to-date version as well. How Did It Happen SPV mining means that the verification of new blocks relies on a connection to a trusted node. However, since the software was unable to detect invalid blocks, it allowed miners to continue building strings of blocks on top of an invalid one, rendering all of them worthless. Effects? While the effects of this glitch appear to be concentrated on mining firms, some worry that it could refuel worries about bitcoin's safety and security. The cryptocurrency already has a reputation for being unreliable and many fear that this incident will contribute to that stigma. See more from Benzinga • What Does Greece Do Now? • What's Next In Greece: Will Tsipras Stay And Will We See A Grexit? • Sealed Air Just Took Away A Guilty Pleasure For Millions © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Switching to the drachma will be a nightmare for Greece: drachma (Pictoscribe - Home again on flickr) Switching back to the drachma would be chaotic if Greece has to ditch euros. The country will hold a crucial referendum on Sunday. Millions of citizens will vote "Yes" or "No" on whether their government should accept a set of conditions that would unlock a fresh bailout program from euro-area creditors, and inject cash into the economy. A "No" vote would leave Greece without emergency funding, the inability to continue to pay pensions, and could lead to further defaults down the road. It could also mean ditching the euro as a currency and going back to the drachma. A Bloomberg report on Saturday notes that recent instances where countries adopted new currencies (like the launch of physical euros in 2002) took several years of planning, and the support of the majority of citizens. These two things aren't guaranteed for Greece. The government has said it would retain the euro in the event of a "No" vote. But as Bloomberg notes, Greece's banking system relies on support from the European Central Bank that could be removed if the country votes "No." And so, if Greece votes to reject creditors' proposals, it may be forced to revert to its old currency. In an interview on Australian public radio Thursday, Greek finance minister Yanis Varoufakis said the country "smashed the printing presses" when it joined the euro. This was to demonstrate that the newly formed monetary union was permanent and not an experiment. Bloomberg reports that the government still has a press in Athens that prints euros. But switching to a new currency could take anywhere between six months and two years. Apart from the logistical challenges, the drachma would likely start out very weak against the euro and other major currencies. A report by Greece's Kathimerini newspaper on Saturday indicates that interest in Bitcoin has surged to hedge against a weak drachma in the event of a switch. And so, while the government is advocating a "No" vote with Greece remaining in the euro, the economic realities of that decision may mean the drachma makes a painful comeback. Head over to Bloomberg for the full story » NOW WATCH: 13 'all-American' foods that foreigners find completely gross More From Business Insider Greek banks are down to their final 500 million euros Here are the markets most exposed to the crisis in Greece And now the euro is surging View comments || 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 “Meak’s 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. It’s 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 I’m 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 “Meak’s World,” which was a combination of a mantra, mission statement, and trademark to tie together his various creative endeavors. “Meak’s 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. It’s not going to be given to me. It has to be Meak’s World.’” He wasn’t 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 Meak’s World to breakdance performances to direct appeals to Hollywood directors, like the one below: Story continues From that point in early middle school, Meak’s 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 , who’d 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 didn’t go very well, at least in their initial meeting. “I got really nervous,” Moore remembers. “For like 98 percent of my life, I’m not nervous. But as soon as I’m nervous, I start shaking or something, and I lose my cool.” Still, Moore says he didn’t 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 Transparent’s Kiersey Clemons and The Grand Budapest Hotel’s Tony Revolori. There’s also a girl, of course: A local (Zoë Kravitz) whom Moore tutors and eventually tries to win over. It’s 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. It’s a film that takes a fresh look at a world largely written off by Hollywood, even though it’s just miles down the road. Dope will no doubt be Moore’s breakout turn, and he’s 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 , he’d love to be known as #KingSAM. It’s 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? It’s to take control of the narrative, Moore says, before someone else can begin to write it. It makes sense from a business standpoint, as it’s unlikely that the news media would be quite as invested in his career’s success as Moore is himself. He talks about being grateful and staying humble quite often, so he doesn’t 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 film’s release, Moore, who worked with producer Pharrell and co-star A$AP Rocky during the film’s production, is dropping some new music of his own. “It’s 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. It’s called 30058 — his childhood zip code — and will be available on his website . And he’s got a full album that he plans to release next spring, soon after the release of The Get Down , the Netflix series on which he’s 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 doesn’t lack for confidence, but also knows his journey to turning Hollywood into Meak’s World has really only gotten started. “I can’t assume that people see me the way I see myself,” Moore offered. “I have to show them. But I can’t do it in a way where it’s too much, where it’s rude. I feel like when you’re 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’: || 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 atwww.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. 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. [Random Sample of Social Media Buzz (last 60 days)] LIVE: Profit = $1,229.36 (37.46 %). BUY B13.60 @ $241.01 (#Bitfinex). SELL @ $246.00 (#VirCurex) #bitcoin #btc - http://www.projectcoin.org  || In the last 10 mins, there were arb opps spanning 17 exchange pair(s), yielding profits ranging between $0.00 and $1,671.20 #bitcoin #btc || Bitcoin traded at $231.0 USD on BTC-e at 09:00 PM Pacific Time || Current price: 150.94£ $BTCGBP $btc #bitcoin 2015-06-01 10:00:07 BST || #RDD / #BTC on the exchanges: Cryptsy: Error Bittrex: 0.00000006 Average $1.6E-5 per #reddcoin 17:00:01 || buysellbitco.in #bitcoin price in INR, Buy : 15470.00 INR Sell : 14995.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || LIVE: Profit = $1,285.59 (39.86 %). BUY B13.60 @ $236.88 (#Bitfinex). SELL @ $246.00 (#VirCurex) #bitcoin #btc - http://www.projectcoin.org  || LIVE: Profit = $1,272.15 (39.28 %). BUY B13.60 @ $237.03 (#BitStamp). SELL @ $246.00 (#VirCurex) #bitcoin #btc - http://www.projectcoin.org  || In the last 10 mins, there were arb opps spanning 19 exchange pair(s), yielding profits ranging between $0.00 and $755.92 #bitcoin #btc || Try FairAndSquare at https://BitBargain.co.uk/buy/request/1496?r=bittybot … only £197.00 per BTC. (BPI +5.04%) #buy #bitcoin #banktrans
Trend: up || Prices: 278.09, 279.47, 274.90, 273.61, 278.98, 275.83, 277.22, 276.05, 288.28, 288.70
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 2016-11-18] BTC Price: 751.59, BTC RSI: 68.67 Gold Price: 1208.50, Gold RSI: 26.62 Oil Price: 45.69, Oil RSI: 45.76 [Random Sample of News (last 60 days)] 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. 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) View comments || Here's how traders are positioned ahead of Election Day: The " Fast Money " traders shared their strategies before Americans pick either Donald Trump or Hillary Clinton as the next president. Trader Steve Grasso cautioned investors to wait for closure from the election before shuffling their portfolios. He said he would mostly hold cash going into the election. Trader Brian Kelly said he is holding gold going into the election. For one, it works as a tail-risk hedge in the situation where Trump wins, but Kelly explained that both major party candidates will push up inflation expectations. For investors looking to stay long in the financial sector, trader Guy Adami said to look at U.S. Bancorp as it's "the most conservative bank out there." Disclosures: GUY ADAMI Guy Adami is long CELG, EXAS, GDX, INTC. Adami's wife, Linda Snow, works at Merck. BRIAN KELLY Brian Kelly is long Bitcoin, SLV and silver futures, US Dollar UUP. He is short the Japanese yen and the euro. STEVE GRASSO Steve Grasso is long: BA, CC, CHK, EVGN, KBH, MJNA, MON, MU, OLN, PFE, PHM, T, TWTR, GDX. His children own: EFA, EFG, EWJ, IJR, SPY. No shorts. Grasso's firm is long: APC, VIRT, DVN, LDP, WDR, AVP, CVX, FCX, ICE, KDUS, KO, MAT, MCD, MJNA, NE, NEM, OLN, OXY, RIG, STAG, TAXI, TEX, TITXF, URI, WDR, WYNN, ZNGA, CUBA, HSPO, ICE, AMZN, MJNA, TITXF, SPY, QQQ, DIA, XLI, BGCP, VIRT, GE, AIR FP. TIM SEYMOUR Tim Seymour is long ABX, APC, AVP, BAC, BBRY, CLF, CVX, 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: EEM, SPY, XRT. His firm is long ABX, BABA, BIDU, CBD, CLF, EWZ, F, KO, MCD, MPEL, NKE, PEP, PF, TCEHY, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, X, YHOO, and short EWG, HYG, IWM. More From CNBC Top News and Analysis Latest News Video Personal Finance || 10 paid iPhone apps on sale for free for a limited time: Galaxy Note 7s are exploding... iPhones are exploding... it's time for some uplifting news and nothing is more uplifting than scoring a bunch of paid iPhone and iPad apps for free. Today's batch includes several solid apps as well as a few nifty sticker packs for iMessage, but these sales won't last so be sure to check them out right away. DON’T MISS: No matter what happens next, the Galaxy Note 7 is dead to us These are paid iPhone and iPad apps that have been made available for free for a limited time by their developers. There is no way to tell how long they will be free. These sales could end an hour from now or a week from now — obviously, the only thing we can guarantee is that they were free at the time this post was written. If you click on a link and see a price listed next to an app instead of the word “get,” it is no longer free. The sale has ended. If you download the app, you will be charged. Widget Calendar widget-calendar Normally $0.99. “Quotes: Widget & Watch” gives 2 beautiful quotes a day. “Memory: Your Memo” helps you remember everything by various colors. --- Widget Calendar shows the full calendar in widget. - See the calendar and the events in widget - Hide events of category that you don't want to see in widget - View all the reminders and manage it - Open Calendar app of the date - Open Reminders by touching the list name - Smooth transitions and no buggy moment The fastest way to check your calendar whenever you need to, even when the screen is locked! Download Widget Calendar Union union Normally $1.99. - "A professional image blending tool that’s actually easy to use." - TECHCRUNCH - "A quick and easy way to turn your iPhone or iPad into a photo manipulation tool." - GIZMODO - "The best image-blending app around." - CULT OF MAC *** From the creators of Fragment, Tangent and Matter, previous App Store Editors' Choice and App of the Week *** Union is an elegant image blending tool that lets you create superimposed, silhouetted, and double-exposed photos. Here's how it works. 1. Load a background image, solid color, or transparent layer 2. Load a foreground image, solid color, or shape 3. Efficiently erase areas of the foreground image using Union’s palette of intuitive, user-friendly tools 4. Adjust the position and size of the foreground image to reach desired composition 5. Make color adjustments on the background and foreground so they blend seamlessly 6. Save your work in full resolution and share your work with friends Also included in Union is Pixite Source, a free resource for professional quality images, textures, and overlays that you can use in your edits. Union invites professionals and hobbyists alike to explore image blending and photo editing. Story continues Download Union Election Stickers election-stickers Normally $0.99. Election Stickers: 2016 Edition Express your political views in iMessages with this U.S. Election sticker pack that contains our 2016 presidential candidates: Hillary and Trump. Quick tips on installing and using Sticker apps: • To access iMessage apps, tap the App Store icon alongside the compose field to see your most recently used iMessage app. • To continue browsing, tap the icon on the lower left corner which brings up the app drawer. From there, tap the plus icon to access the App Store for iMessage, where you can browse and download more apps. Here, you can also go to Manage where you can add your apps to your app drawer. • To use a sticker within a conversation, you simply tap to send or you can touch and hold to place them on top of bubbles, other Stickers, or even photos. It feels just like peeling and pasting a traditional sticker. • iPhone and iPad users (running iOS 10) and Apple Watch owners (running watchOS 3) can receive stickers. On Apple Watch, you can send any of the stickers you recently sent from iPhone or iPad. You can receive stickers on earlier versions of iOS and other platforms but they’re received inline as images and don’t support being pasted on top of text, photos etc. Express yourself in new ways with Election Stickers you can put anywhere in your chat. Scale, rotate, and layer stickers—even place them on photos you send and receive! • SEND stickers in chat • PLACE stickers anywhere on your iMessages • CUSTOMIZE your photos with stickers in chat • LAYER stickers over each other, in chat, and on photos • SCALE & ROTATE stickers Download Election Stickers Halloween halloween Normally $0.99. Halloween stickers for iMessage. Special price for launch only so download now and try it out! The pack contains 15 high quality ANIMATED stickers you can put everywhere on your messages. No in-app purchase. all stickers are included with the app! Download Halloween Mobdro Plus mobdro-plus Normally $0.99. Mobdro Plus is built for music lovers. This is the only outstanding music app for millions songs from YouTube. Get the app, discover, organise and play thousands of premium tracks or playlists seamlessly. Feature Sections of Mobdro app: Trending Songs & PlayLists - Realtime hottest official music tracks by Genres. - Trending premium songs on overall. - Season, spotlight and Index playlists. Search - One search button to continuously listen best songs on your favourite topics. - Easy to create playlist and add tracks to your library. - Search by track and playlist. PlayList - Organise unlimited number of playlists. - Play your list on your own favours : normal, repeat and shuffle. Player - Best optimised player for watch music mvs. - Best experiences on listening music, just like normal music app. Please do send your voices so we can get it and deliver your favourite features at the best manner. Download Mobdro Plus let's led lets-led Normally $0.99. Let’s Led turns your iphone/ipad into an ticker display. a time clock, and with over 100 symbol, you can send any message you want. Download let's led mixsuite mixsuite Normally $0.99. MixSuite allows you to mix your favourite tracks with your favourite videos effortlessly. This app allows you to select your video(s) from a variety of different areas, to make sure you never miss out on capturing the perfect video for your mood. Choose from YouTube, Vimeo, or even upload your own videos from your personal device! Now onto the Music - MixSuite brings through all your personal tracks from your native music app to allow for quick and easy selection of the tracks you wish to listen to. Now you can create your own Mix! Simply Double-tap the tracks from first to last to order them along with the selected video(s). MixSuite will even allow you to add a voiceover to the video - narrate over your favourite videos to give a truly unique mix. Tap save and you’re ready to listen to your mix! All mixes are saved to a dedicated library within the app to allow for playback at any time. Don’t forget to share the app to your friends for them to give it a try! Download mixsuite CryptoTrader cryptotrader Normally $2.99. CryptoTrader: Interactive, Real-Time Cryptocurrency Advisor! - Handy & clear chart optimized for mobile screens - Up-to-date real-time price data of digital coins and tokens - Historical price data to analyze trends - Current order book and recent trades - EMA and MACD indicators Supported cryptocurrencies: - Bitcoin (Bitfinex, Coinbase, Btc-e, Okcoin) - Ethereum (Poloniex, Kraken, Bitfinex) - Monero - Augur - Ripple - Dash - Steem - Litecoin - Ethereum Classic - and many more. Download CryptoTrader MORPH morph Normally $0.99. From the ominous dangers of a dark square world, MORPH an adorable little creature is propelled by adept chooses into the light, finding his way from world to world in this extremely astute puzzle game. Careful thought is necessary to avoid treacherous obstacles which would lead to a certain horrible death and find the hidden path to the portal leading to the light a symbol of your growing enlightenment. Download MORPH Clean&Clean cleanclean Normally $0.99. CLEANER MASTER FOR IOS … √ Clean&Clean Master – The World's Leading Cleaner & Optimizer for Mobile. √ "Memory Cleaner" helps you free up your RAM on device to boost performance. √ "Lightning Disk Cleaner": we bring the new technology for this feature to helps you clean junk/temp files on disk, which is faster than other apps same feature. Do you think your device is well organize? You will surprised how app can upgrade and make it more smooth & faster!!! Main Features: √ Find & Merge duplicate contacts, phone √ Delete multiple contacts √ One tap backup your contacts √ Quick find the contacts you need √ Show system statistics: memory, storage Download Clean&Clean Trending right now: Apple launches investigation as another iPhone goes up in flames Don’t expect a Surface Book 2 to take on Apple’s new MacBook Pro this year Tests show that one iPhone 7 model is actually slower than all the others See the original version of this article on BGR.com View comments || Winklevoss brothers name State Street as bitcoin ETF administrator: By Gertrude Chavez-Dreyfuss NEW YORK, Oct 18 (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) || 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. 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) || 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. || Bitcoin is flying after Donald Trump's victory: In May, a Juniper Research study (“Will Bitcoins Bite Back?“) predicted that the price of the digital currency bitcoin would jump if Donald Trump were elected. On Tuesday, Trump was elected, and bitcoin jumped. The currency is up nearly 3% since Tuesday night, hovering around $725. “If Donald Trump becomes President of the US,” said Dr. Winslow Holdenin a statement with the study, “there is the very real prospect of turmoil on world markets… Bitcoin would thrive in such an environment.” Bitcoin has in fact been on the rise all fall,not only because of the election. The price is up 19% in the last month, 23% in the last three months, and 68% in 2016. But in the next few days and perhaps months, the uncertainty after Trump’s win will likely serve as an accelerant. Investors see bitcoin as a safe haven from fiat currencies (hence why it rises when the Chinese yuan falls), and an asset largely untied to mainstream markets. Gold typically behaves the same way, and indeed,gold shot up to $1,320 on Tuesday night as Trump closed in on the presidency, though it fell back to earth on Wednesday and is now at $1,275. Bitcoin’s October rise has been mostly due to heightened activity in China, where the yuan is falling and the government has tightened capital controls. Bitcoin prices also spikedduring the bank shutdown in Greecelast year. Juniper Research says the Brexit vote, back in June, is still having an impact as well: “The ongoing ramifications around Brexit are also likely to act as an additional spur for higher activity levels.” IfBrexit helped contribute to a bitcoin bump, then Trump’s win is likely to do it, too. Many were quick to compare the surprising result of the US election to the EU referendum result. Trump, in the days before the election, told crowds that his win would be like “Brexit plus plus plus,” and nicknamed himself “Mr. Brexit.” While Trump and bitcoin might seem to have something in common (Coin Telegraphmade the case that Trump would eventually cozy up to the coin), his campaign never accepted donations in bitcoin. Hillary Clinton’s campaign considered accepting donations in bitcoin, aleaked email thread revealed,but John Podesta was more intrigued by the digital currency Ven, writing that bitcoin suffers from a “libertarian Ayn Rand schtick.” Sen. Rand Paul and Gov. Gary Johnson were the only two presidential candidates to accept bitcoin. It doesn’t matter now: Trump won, and bitcoin benefited without his support. The coin doesn’t need Trump to champion it in order to succeed. The defining word of this US election is the same word that defined the Brexit vote: “uncertainty.” As the Juniper Research report noted, bitcoin’s price rose in the weeks leading up to the Brexit vote, then fell a little bit just before the vote when the outcome looked clear, then spiked when the outcome was, in fact, a big surprise. Expect the same to happen after Trump’s win. — Daniel Roberts is a writer at Yahoo Finance, covering technology and sports business. Follow him on Twitter at@readDanwrite. Read more: The latest bitcoin price surge isn’t just about Brexit Here’s 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 || Bill Gross of Janus warns financial markets have become 'a Vegas casino': By Jennifer Ablan NEW YORK, Oct 4 (Reuters) - Global central bank policy makers have turned world financial markets into a casino, thanks to their unprecedented monetary policies, warned bond investor Bill Gross of Janus Capital Group on Tuesday. "Our financial markets have become a Vegas/Macau/Monte Carlo casino, wagering that an unlimited supply of credit generated by central banks can successfully reflate global economies and reinvigorate nominal GDP growth to lower but acceptable norms in today's highly levered world," Gross said in his latest Investment Outlook titled "Doubling Down." Gross, who oversees the $1.5 billion Janus Global Unconstrained Bond Fund, recommended Bitcoin and gold for investors who are looking for places to preserve capital. "At some point investors - leery and indeed weary of receiving negative or near zero returns on their money, may at the margin desert the standard financial complex, for higher returning or better yet, less risky alternatives," Gross said. Gross has been lambasting ultra-loose central bank policies for hindering global economies by keeping so-called "zombie" corporations alive and inhibiting "creative destruction." For several years, Gross and others have warned that zero and negative interest rates not only fail to provide an easing cushion should recession occur, but they destroy capitalism's business models. "A commonsensical observation made by yours truly and increasing numbers of economists, Fed members, and corporate CEOs (Jamie Dimon amongst them) would be that low/negative yields erode and in some cases destroy historical business models which foster savings/investment and ultimately economic growth," Gross said. He added: "Our argument is that NIMs (net interest margins) for banks, and the solvency of insurance companies and pension funds with long dated and underfunded liabilities, have been negatively affected and that ultimately, the continuation of current monetary policies will lead to capital destruction as opposed to capital creation." All told, Gross said central bankers have fostered a casino-like atmosphere that present "a Hobson's Choice, or perhaps a more damaging Sophie's Choice of participating (or not) in markets previously beyond prior imagination. Investors/savers are now scrappin' like mongrel dogs for tidbits of return at the zero bound. This cannot end well." (Reporting By Jennifer Ablan; Editing by Chizu Nomiyama) || Traders weigh chasing Microsoft rally after stock passes all-time high in late trading: The "Fast Money" traders debated whether it's worth chasing the rally in Microsoft(NASDAQ: MSFT)after the company posted anearnings beat driven by continued growth in its cloud business. The stock climbed above its 1999 all-time high of $59.97 in extended trade. Trader Brian Kelly said he would not chase the rally in Microsoft, but would be interested in it on a pullback. "Everything that these guys said is exactly what everybody in this market now wants. There's very few stocks out there that have this type of growth, that have a dividend, that have a strong management team ... so Microsoft is going to attract a lot of investment money," Kelly said. Trader Karen Finerman agreed, but added that Microsoft's current valuation — about a 27 price-to-earnings ratio on a trailing basis — is much more appetizing than it was 17 years ago. Trader Dan Nathan said that a large portion of Microsoft's revenue still comes from its legacy businesses and that the current valuation is still too rich. He said there's a risk that the growth of the cloud business could slow down. Trader Tim Seymour disagreed, saying that Microsoft could still increase margins and market share. Disclosures: KAREN FINERMAN Karen Finerman is long AAL, BAC, C, DAL, long DB calls, 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. DAN NATHAN Dan Nathan is TWTR long, PYPL long Oct calls, XHB long Jan put spread, XLU long Dec call Spread, XLK long Jan put spread, XRT long Jan put spread, PG long Dec put spread, EEM long Nov put spread. BRIAN KELLY Brian Kelly is long Bitcoin, SLV and Silver Futures, US Dollar UUP. He is short the euro and Japanese yen. 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. 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 More From CNBC • Top News and Analysis • Latest News Video • Personal Finance || 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)] 02Nov2016 00:00 UTC #Bitcoin live spots - #XBTUSD @ 732.93500 $ - #XBTEUR @ 659.05500 € || Bitfinex to Hacker: Can We Have Our Bitcoin Back? http://www.coindesk.com/bitfinex-negotiate-hacker-stole-bitcoin-exchange/ … || 1 #BTC (#Bitcoin) quotes: $606.00/$607.12 #Bitstamp $606.70/$608.38 #BTCe ⇢$-0.42/$2.38 $606.61/$612.79 #Coinbase ⇢$-0.51/$6.79 || $638.71 at 10:45 UTC [24h Range: $633.00 - $642.00 Volume: 2374 BTC] || #HamRadioCoin #HAM $0.000670 (-0.00%) 0.00000110 BTC (0.00%) || One Bitcoin now worth $633.02@bitstamp. High $637.00. Low $630.00. Market Cap $10.082 Billion #bitcoin pic.twitter.com/xRhrISOlvS || $604.00 #GDAX; $603.66 #btce; $602.48 #bitstamp; $731.75 #localbitcoins; $601.07 #OKCoin; #bitcoin news: http://bit.ly/1VI6Yse  || "Ultimately the decision happens at 51%"- @rogerkver on #BitcoinUnlimited http://neocashradio.com/blog/bitcoin-unlimited-special-interview-with-roger-ver/ … #bitcoin #notshitcoin || $713.95 at 08:00 UTC [24h Range: $707.00 - $740.77 Volume: 6507 BTC] || #UFOCoin #UFO $0.000007 (-0.26%) 0.00000001 BTC (-0.00%)
Trend: down || Prices: 751.62, 731.03, 739.25, 751.35, 744.59, 740.29, 741.65, 735.38, 732.03, 735.81
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 2016-01-29] BTC Price: 379.47, BTC RSI: 41.26 Gold Price: 1116.40, Gold RSI: 60.20 Oil Price: 33.62, Oil RSI: 51.49 [Random Sample of News (last 60 days)] 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 Schulman in 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. Story continues 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, Fortune reported last year that 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. || 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. See more from Benzinga What's In Store For Bitcoin In 2016? FedEx Gets The Blame For Holiday Delays How Blockchain Can Reform The Real Estate Industry © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || How Blockchain Can Reform The Real Estate Industry: Bitcoin has gotten a bad reputation this year after several high profile hacking attacks and scams saw investors lose huge sums of money. The cryptocurrency has also been painted as a tool for criminals after dark web sites like Silk Road revealed illegal transactions using the currency. While the currency itself is unlikely to catch on as a mainstream form of payment in the coming year, many believe that blockchain, the ledger like technology that bitcoin runs on, could explode in 2016. Blockchain Applications Across The Board The potential for blockchain is wide reaching. The technology could benefit everyone from finance firms to the music industry by making transactions easier to follow and more difficult to forge. Several blockchain firms have emerged in order to help companies explore the possibility of using the technology within their industry. Blockchain For Real Estate One space that many believe could get a blockchain makeover in the coming year is real estate. Blockchain would make title transfers safer, faster and more efficient by automating the process and ensuring that legal battles over fraudulent titles were a thing of the past. At the moment, it is relatively easy for a criminal to create false title documents and transfer ownership of a property to themselves. The of fighting such crimes each year is around $1 billion, a sum that could be saved with a blockchain-run system. Better Price Comparison Using blockchain would also make comparing similar properties for house hunters. At the moment owners can keep lease prices private, making it difficult to find comparable sales figures. However, if all of that data was stored on blockchain, it would be easily searchable and available to both buyers and sellers. See more from Benzinga Not All Of Clinton's Policies Are Bad For Pharmaceuticals What's In Store For Apple In 2016 Google Is Developing A Messaging Service To Compete With Rivals © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Ledger Fights For Bitcoin's Staying Power At CES 2016: The Consumer Electronics Show in Las Vegas is a chance for electronics and technology firms to debut their latest offerings and future prospects. Everything from self-driving cars to mind-blowing virtual reality sets have made their debut at CES, and each year the show tends to set the tone for what kind of tech will be big in the coming year. This year, bitcoin startup Ledger is keeping the cryptocurrency in the spotlight by hosting the only bitcoin startup booth at the event. Physical Bitcoin Storage Ledger created a hardware wallet product in 2015 that provides customers with a safe and secure way to store and use their bitcoins. Ledger takes some of the worry out of using bitcoin by giving users a physical way to store bitcoins – a lightweight smart card. They can then use a USB to make secure payments, and the company offers a simple backup system that provides users with a microchip and pin code encrypted system in case they lose their card. Related Link: Can The Bitcoin Foundation Last? This year, Ledger is planning to exhibit new offerings at CES including a new technology that will strengthen the security of online authentication by reducing the reliance on passwords. Bitcoin's Year Ledger's presence at CES suggests that although bitcoin had a rough year in 2015, the cryptocurrency isn't dead yet. Concerns about privacy and security have increased skepticism about cryptocurrencies, making it difficult for bitcoin firms to push mainstream approval. However, many believe that as security improves and more and more vendors open up to the possibility of bitcoin transactions, the public will get on board. Image Credit: Public Domain See more from Benzinga Virtual Reality In 2016 Is Tesla A Good Investment For 2016? 3 CEOs Who Made Headlines In 2015 © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Your first trade for Friday: The " Fast Money " traders delivered their final trades of the day. Dan Nathan was a seller of Wal-Mart ( WMT ) . Steve Grasso was a buyer of American Eagle Outfitters ( AEO ) . Brian Kelly was a seller of Deutsche Bank (XETRA:DBK-DE) . Guy Adami was a buyer of the Market Vectors Gold Miners ETF (NYSE Arca: GDX) after picking Macy's (NYSE: M ) three days in a row. Trader disclosure: On January 7, 2016, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Dan Nathan is l ong MCD Feb put spread, long PFE buy-write, long TWTR March risk reversal, long UUP March call, long XLU Feb call spread, long PYPL Jan risk reversal, long M Jan16 call spread, long NTAP Jan risk reversal, long QCOM Feb calls, short SPY, long UUP, long WMT puts. Steve Grasso is long AAPL, BA, BAC, CC, DD, DIS, DECK, EVGN, KBH, MJNA, MBLY, MU, OLN, PFE, PHM, T, TWTR, GDX firm is long APC, CXO, OXY, BP, CVX, MCD, RIG, AMZN kids own EFA, EFG, EWJ, IJR, SPY. Brian Kelly is long BBRY, Bitcoin, GDX, GLD, Hong Kong Dollar, TLT, US Dollar; he is short British Pound, Euro, Yuan, Canadian Dollar, GSG, EEM, EWC, EWH, KRE, SPY, DB. Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck. Wolfe Research Sr. Analyst Paul Sankey: No disclosures. More From CNBC Top News and Analysis Latest News Video Personal Finance || Now You Can Play The Lottery With Bitcoin: While bitcoin has faced several obstacles in its journey toward mainstream adoption, the cryptocurrency appears to be starting the New Year off on the right foot. Not only has bitcoin seen its value increase steadily over the past three months, but the coin has gained some fame, as merchants continue to adopt the cryptocurrency as a valid form of payment. The latest place consumers can find use for their bitcoins is the lottery, which has gotten a lot of attention recently due to its $1.6 billion Powerball Jackpot prize. Bitcoin Payment Mobile lottery ticket app Jackpocket has integrated bitcoin as a payment option within the app, meaning that people can purchase their Powerball tickets using the cryptocurrency. On Wednesday, the app announced its bitcoin addition, which garnered a lot of attention for the coin, as the Powerball Jackpot also reached a record high on the same day. Related Link: UPDATE: Winning Powerball Tickets Sold In California, Florida, Tennessee --ABC News Bullish On Bitcoin For Jackpocket, the move was a great way to reach another demographic of lottery players and represents the company's faith in bitcoin's success. Jackpocket CEO Peter Sullivan announced the decision to incorporate bitcoin into the app saying that he and his team are "very bullish on cryptocurrencies and the blockchain in general." Speedy Transactions Not only will bitcoin add to Jackpocket's pool of potential users, but Sullivan says he hopes it will help speed up transaction times and reduce glitches. Heavy volumes of users trying to buy tickets have been hindered by regulations, according to Sullivan, and those issues have strained the app's relationship with credit card processors and banks. Related Link: No Luck On Winning Powerball? Learn The Skill Of Trading More Customers It remains to be seen whether many Jackpocket users will use the bitcoin payment option, but Sullivan is hoping it will attract more affluent customers who have experience with technology, a group he says is likely to buy more tickets. Story continues Image Credit: Public Domain See more from Benzinga Google Is Seeking Autonomous Car Partnerships U.S. Automakers Struggle With Skeptical Investors Netflix Continues To Deliver On Promises That 2016 Will Be A Big Year © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Australia's ASX invests in blockchain to simplify markets: SYDNEY (Reuters) - Markets operator ASX Ltd on Friday said it has made a minority investment in U.S.-based Digital Asset Holdings to develop distributed ledger technology, or blockchain, to potentially simplify Australia’s post-trade equity market. Blockchain technology, pioneered by Bitcoin, maintains a continuously growing list of transaction data which cannot be tampered with or revised. ASX paid A$14.9 million ($10.43 million) for a 5.0 percent equity interest in Digital Asset along with funding an initial phase of development and acquiring a warrant that will give it the right to purchase further equity and appoint a director to the board. ASX will work with Digital Asset to design a new post-trade solution for the Australian equity market, it said in a statement on Friday. Over the past year, interest in blockchain technology has grown rapidly. It has already attracted significant investment from many major banks, which reckon it could save them money by making their operations faster, more efficient and more transparent. (Reporting by Swati Pandey) || New Study Shows Bitcoin Still Has A Long Way To Go: Bitcoin has gained notoriety quickly over the past few years, as more people become familiar with cryptocurrencies. While the majority of the public is still skeptical regarding the safety and security of the currency, bitcoin's user base has been growing. However, although bitcoin enthusiasts say the payment system has made major gains over the past few years, a new study shows the cryptocurrency is still widely misunderstood, even by those who use it. Limited Understanding A peer-reviewed study conducted by Janne Lindqvist of Rutgers Wireless Information Network Laboratory showed both users and non-users of the cryptocurrency have only a basic understanding of how bitcoin works and how safe it is to use. Related Link: Interest In Bitcoin Mining Returns For those who have yet to try bitcoin, the study indicated they worried about adopting the currency and saw setting up an account as too difficult. Users Misinformed Surprisingly, the study also showed that many of those who use bitcoin regularly also found the system difficult to understand. Not only were bitcoin users misinformed about the level of security bitcoin transactions provide, but they also struggled to wrap their minds around how bitcoin transactions are carried out. Government Backing Important Another factor from the study that garners attention was that both users and non-users were keen for further government intervention for Bitcoin. While users typically expressed anti-government views and said less regulation was important to them, they still said that backing from the government would make the bitcoin system more secure. Image Credit: Public Domain See more from Benzinga Under Armour's Partnership With IBM Could Revive Both Brands Can Bank Stocks Recover? A New Way To Advertise © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments || 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. || Not in Your Grandma’s Wallet: Bitcoin Redefining Money: Will Bitcoin replace paper money? During an interview on the FOX Business Network’s Mornings With Maria ,Digital Currency Group CEO Barry Silbert, who’s considered the most active investor in Bitcoin companies, said: “[Bitcoin] it’s going to change the way that people send money, spend money -- even think about money. It’s kind of redefining what is money.” As an investor of companies in over 20 countries, he sees the most Bitcoin action in places where people use mobile devices for transactions. “We are seeing dramatic adoption in places like Kenya, Argentina, Brazil, South Africa -- places where people have mobile devices, but they don’t have bank accounts,” he said. He also discussed how regulation is impacting the digital currency. “[Regulators] are certainly paying attention… I used to think that regulation was Bitcoin’s biggest threat -- I actually think it’s the biggest opportunity now… Running a bank, operating a bank -- you cannot be innovative. You can’t think outside the box. You can’t do anything creative. Whereas you have hundreds of thousands of startups around the world that are looking to, again, kind of disintermediate… It is really going to eat banks alive.” With only $5B in market cap, Silbert believes Bitcoin’s technology is very valuable. “I’ll be the first to admit that Bitcoin as a digital currency is either going to be worth zero or it’s going to be worth a whole lot more money than it is today… it’s a very, very, risky investment. But this ecosystem is amazing that’s being built. There’s been a billion dollars in investment by venture capital in this industry so far.” He also discussed how the financial services industry will change in the next 5 to 10 years. “The definition of a bank is going to change. Banks are being disintermediated -- they are being attacked from every different angle… from startups, all the way up to different types of approaches, to finance like Bitcoin.” Number of Bitcoin Transactions | FindTheData Related Articles SEC Targets Connecticut Bitcoin Companies 3 Reasons Its Dumb to Take Social Security Benefits at 70 Oil Plunge Raises Fears of Societal Unrest [Random Sample of Social Media Buzz (last 60 days)] $379.00 #bitfinex; $378.29 #bitstamp; $378.24 #coinbase; $374.45 #btce; #bitcoin #btc via #ThePriceOfBTCpic.twitter.com/rc1BCpPHrb || $455.00 at 16:02 UTC [24h Range: $450.00 - $465.00 Volume: 10245 BTC] || In the last 10 mins, there were arb opps spanning 16 exchange pair(s), yielding profits ranging between $0.00 and $334.57 #bitcoin #btc || Current price of Bitcoin is $396.00 || #RDD / #BTC on the exchanges: Cryptsy: 0.00000004 Bittrex: 0.00000004 Average $1.7E-5 per #reddcoin 00:15:01 || $363.00 #coinbase; $362.55 #bitstamp; $362.00 #bitfinex; $358.00 #btce; #bitcoin #btc || Bitcoin Price Rebounds to $380 After Mike Hearn Selloff (10:00 am) http://bit.ly/1UZ2zgn  #bitcoin #crypto #news || 現在の価格は 52883円(http://blockchain.info )です。前回比は1円(0.00%)です。http://konvert.in/currency/1-bitcoin-to-japanese-yen … #ビットコイン #bitcoin via @konvertin || $416.44 #bitfinex; $416.31 #bitstamp; $415.44 #coinbase; $413.00 #btce; #bitcoin #btc || Bitstamp: $447.43/BTC - last trade of USD/BTC at https://www.bitstamp.net/  (high: 447.99, low: 435.00) #bitcoin #BTC http://bitcoinautotrade.com 
Trend: down || Prices: 378.26, 368.77, 373.06, 374.45, 369.95, 389.59, 386.55, 376.52, 376.62, 373.45
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 2020-05-27] BTC Price: 9181.02, BTC RSI: 53.64 Gold Price: 1710.30, Gold RSI: 50.04 Oil Price: 32.81, Oil RSI: 59.44 [Random Sample of News (last 60 days)] First Mover: Gold Is Crushing Bitcoin, but Inflation May Bring the Cryptocurrency a Boost: Is physical gold leaving digital gold behind? It’s a question worth asking, with the yellow metal having rallied over the past four trading sessions to reach a new eight-year high, around $1,725 an ounce. Gold is up 14 percent in 2020, a superlative performance in what has been an annus horribilis for many traditional markets: stocks, oil and industrial metals like copper and aluminum. Related: Bitcoin Price Spikes Above $7.1K, Liquidating $23 Million on BitMEX You’re reading First 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 can subscribe here . And what about bitcoin , seen by many investors as a digital form of gold due to its perceived use as a hedge against inflation? It’s down 4.1 percent on the year. The gap between gold and bitcoin returns has frustrated traders who predict that trillions of dollars of coronavirus-related emergency aid and monetary stimulus from the Federal Reserve and other authorities will eventually lead to inflation. The International Monetary Fund on Tuesday estimated that the global economy will shrink 3 percent this year, down some 6.3 percentage points below its most-recent projection in January. What’s changed, of course, is the pandemic, which has led to business disruptions and travel cancellations while cratering energy demand and decimating consumer spending. Related: Market Wrap: Bitcoin Price Volatility Declines in Contrast to S&P 500 “The magnitude and speed of collapse in activity that has followed is unlike anything experienced in our lifetimes,” the Washington-based organization’s chief economist, Gita Gopinath, wrote in a blog post . Recessions are often deflationary: Lower demand alleviates upward price pressure on products and services, while surging unemployment makes it harder for workers to demand wage increases. Deutsche Bank says a U.S. government report on Thursday might reveal another eight million jobless claims filed last week, bringing the four-week total to 25 million – at least 10 times worse than any prior comparable period in the past half-century. The unemployment rate would rise to 17 percent, from 3.5 percent as recently as February. Story continues Federal Reserve officials appear determined to keep inflation at bay. The central bank targets annual price rises of 2 percent, and Vice Chair Richard Clarida told Bloomberg Television that monetary authorities “ have the tools to keep the economy out of deflation .” Translation: More money injections are likely. Last week, the Fed’s balance sheet ballooned past $6 trillion for the first time in its 107-year history. So why isn’t bitcoin getting the uplift that gold is enjoying? One possible reason, according to Jeff Dorman, chief investment officer at cryptocurrency-focused firm Arca Funds, is the physical metal is so much easier to buy. That’s especially true for traditional investors who have long turned to gold as a safe haven during times of economic and market turmoil. “Gold can easily be purchased from the same brokerage accounts as stocks/bonds, whereas bitcoin cannot be,” Dorman told CoinDesk in an email. “Anyone who sold equities or debt and is sitting in cash needs to put that money to work, and it’s easier to purchase gold than bitcoin.” It’s as plausible an explanation as any, given that bitcoin was launched just 11 years ago, while gold has served as a symbol of riches at least since the Sumerians civilized Mesopotamia . According to the World Gold Council, an estimated 197,576 metric tons of gold have been mined throughout history. At 32,150.75 troy ounces per metric ton, and based on the current price, that works out to an outstanding value of about $11 trillion. That’s 87 times the outstanding market value of all bitcoin ever produced, currently about $125 billion, according to CoinMarketCap . “People that have money, investment capital, they’re definitely more familiar with gold,” says Phillip Meng , who until recently was head of trading for SFOX, a cryptocurrency trading platform. “Gold is definitely preferable to bitcoin at this point because of just the understanding of the asset and access to the asset.” In extremely uncertain times, people might simply gravitate toward things that are more certain. “I am skeptical that in the time of a severe recession, people would want to deal with an electronic type of entity ,” Frank Shostak, an associated scholar of the Mises Institute and chief economist and director of AAS Economics, told CoinDesk’s Omkar Godbole on Tuesday. Bitcoin has been touted by some proponents as an uncorrelated asset that can help to increase returns in an investment portfolio while reducing overall volatility and risk. But that hasn’t stopped analysts from spotting occasional periods where bitcoin seems to trade in sync with counterparts from traditional finance, from gold to the Standard & Poor’s 500 Index of U.S. stocks to the dollar’s exchange rate with the Chinese yuan. In a report published Tuesday, Coin Metrics, a digital-asset research and data firm, ran the math on bitcoin’s correlation with gold. Historically, the correlation hasn’t been strong, wrote the analysts, led by Nate Maddrey . But since March 12, the depth of the coronavirus sell-off for bitcoin, the correlation with gold has increased. It’s still pretty weak, currently at less than 0.5, where 1 represents perfect synchronicity, 0 is no correlation at all and -1 is a perfectly inverse relationship: “These are small pieces of evidence that the correlation between bitcoin and gold may be growing,” according to Maddrey and the Coin Metrics team. “However, bitcoin’s overall correlation with gold is still relatively weak.” What might be just as interesting, if not more, is that, recently at least, bitcoin does appear to be trading in sync with inflation expectations. The Coin Metrics team analyzed the cryptocurrency’s correlation with the 5-year forward inflation expectation rate, as published by the Federal Reserve Bank of St. Louis. Here’s what that looks like: It’s a pretty stark up-slope at the far-right end of the chart. The takeaway? “Although the short term is still uncertain amidst the global pandemic, this could potentially be a long-term inflection point for bitcoin if federal banks around the world continue to inject money into the global economy at historic rates,” according to the report. There may be hope yet for the bitcoin bugs. Tweet of the day Bitcoin watch Trend : Bitcoin is lacking a clear directional bias for the second day with prices trapped in the $6,600–$7,200 range. The leading cryptocurrency by market capitalization ran into offers near $7,200 over the weekend, as indicated by the long upper wick attached to Sunday’s candle. However, the ensuing price dip found buyers near $6,600 on Monday. The outlook will remain neutral as long as the $600 range is intact. A move above the top end would open the doors for a rally to $7,800 (target as per the measured move method) – a level last seen before the March 12 crash. Alternatively, a range breakdown could encourage sellers and yield a drop to $6,100. The bearish scenario looks most likely currently, as bitcoin’s repeated failure to keep gains above the 100-week average of $7,060 over the last two weeks is indicative of bull fatigue. Further, S&P 500 futures are flashing red at press time, alongside losses in the European equities. Investors are selling risk assets , possibly in response to the International Monetary Fund’s forecast of a 3 percent contraction in global GDP in 2020. That said, losses in both stocks and bitcoin could be limited, with the Federal Reserve injecting an unprecedented amount of liquidity into the system via its open-ended asset purchase program. Professional investors are also sitting on record amounts of cash, some of which may make its way into the bitcoin market ahead of the next month’s reward halving . The event, aimed at controlling inflation, will reduce the amount of bitcoin created every 10 minutes or so from 12.5 BTC to 6.25. First Mover is CoinDesk’s daily markets newsletter. You can subscribe here . Related Stories Blockchain Bites: DLT’s Great Leap Forward, Bitcoin Hoarders and a16z’s New Fund More Investors Are Holding Bitcoin Ahead of the Halving, Data Suggests || USD/JPY Fundamental Weekly Forecast – With Economies Reopening, Traders Will Be Watching Coronavirus Curve: The Dollar/Yen was mostly lower last week as investors turned more positive and less averse to risk amid an easing in coronavirus lockdown restrictions in several countries. Demand for the Japanese Yen increased after the Bank of Japan (BOJ) announced additional measures to support an economy battered by the virus. Meanwhile, the Fed came across as dovish in its monetary policy statement, pressuring the U.S. Dollar. Last week, the USD/JPY settled at 106.911, down 0.582 or -0.54%. Investors were encouraged early in the week to move money into riskier assets and out of the U.S. Dollar after the Australian states of Queensland and Western Australia said they would slightly ease social distancing rules this week as the number of people infected decreased on the continent. Encouraged by a fall in infection rates, Germany also has allowed on Sunday small retail stores to reopen, provided they adhere to strict distancing and hygiene rules. Now large corporations are following suit. Additionally, Italy will also ease lockdown measures from May 4. Bank of Japan The BOJ expanded its stimulus to help companies hit by the coronavirus crisis, pledging to buy unlimited amounts of bonds to keep borrowing costs low as the government tries to spend its way out of the deepening economic pain. The move puts the BOJ in line with other major central banks that have unleashed unprecedented amounts of monetary support as the health crisis stokes fears of a deep global recession. The central bank also sharply cut its economic forecast and projected inflation would fall well short of its 2% target for three more years, suggesting its near-term focus will be to battle the crisis. US Federal Reserve “The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum employment and price stability goals,” the central bank said in a statement at the end of a two-day policy meeting on Wednesday. Story continues The Fed’s statement came after data on Wednesday showed that the U.S. economy contracted in the first quarter. The Commerce Department said gross domestic product fell at a 4.8% annualized rate in the January-to-March period after expanding at a 2.1% rate in the final three months of 2019. Weekly Forecast Last week’s price action was all about demand for risk and less about interest rates. This trend is likely to continue this week. The U.S. Dollar started the week on the back foot, reflecting more risk on trading conditions. This week, traders will put more weight on the reopening of the economy along with brewing tensions between the Unites States and China. With states across the U.S. letting nonessential businesses reopen and easing stay-at-home orders in an effort to restart the economy, investors are going to refocus on the number of coronavirus cases to see if the U.S. is doing the right thing, or if they have to go back to even stronger restrictions. “The next 2-4 weeks are critical for both the economic crisis and the health crisis,” said Marc Chaikin, CEO of Chaikin Analytics. “The biggest risk to the stock market is a premature reopening of the U.S. economy. If rising COVID-19 curves reemerge and economies are shut down again the damage to the stock market’s psyche will be dramatic” If fear returns to the markets then look for investors to flock to the U.S. Dollar for protection. This should drive up the USD/JPY. This article was originally posted on FX Empire More From FXEMPIRE: U.S – China tensions, Iran, and April PMIs to Weigh on Riskier Assets Asian Shares Lower as US-China Tensions Weigh on Investor Sentiment New Month, New Trends? U.S. Dollar Index (DX) Futures Technical Analysis – Major Support Zone 99.245 to 98.130 Where are the Next Resistance and Support Levels for Bitcoin? The Crypto Daily – Movers and Shakers -04/05/20 || MONDAY DEADLINE NOTICE: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against Canaan Inc. and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm: Los Angeles, California--(Newsfile Corp. - April 30, 2020) -The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Canaan Inc. (NASDAQ: CAN) ("Canaan" or "the Company") for violations of the federal securities laws. Investors who purchased the Company's securities pursuant and/or traceable to the Company's initial public offering ("IPO") on or about November 20, 2019, are encouraged to contact the firm before May 4, 2020. If you are a shareholder who suffered a loss,click here to participate. We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website atwww.schallfirm.com, or by email [email protected]. The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member. According to the Complaint, the Company made false and misleading statements to the market. Canaan claimed to engage in "strategic cooperation" which was really just a related-party transaction. The Company was in a weaker financial position than it reported. The Company removed many distributors immediately before the IPO, many of which were of dubious quality. Many of the Company's Chinese customers were not in the Bitcoin industry and were therefore not likely to buy its products again. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Canaan, investors suffered damages. Join the caseto recover your losses. The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics. CONTACT: The Schall Law FirmBrian Schall, Esq.,www.schallfirm.comOffice: [email protected] SOURCE: The Schall Law Firm To view the source version of this press release, please visithttps://www.newsfilecorp.com/release/55206 || Can Bitcoin Survive the Climate Change Revolution?: Coronavirus might be the biggest story of the decade, but climate change will be the grand narrative of the century. As energy of any kind becomes of premium value to the planet, and the world’s transport systems come onto the electric grid, how will notoriously energy-hungry processes like bitcoin fare? In financial services, environmental, social and governance (ESG) is becoming the new buzzword among impact-minded corporations. An example of this was the latest letter from BlackRock CEO Larry Fink promising afundamental reshaping of finance. Related:Election App Voatz Just Got Kicked Out of a Major Bug Bounty Program Bitcoin, although it’s also about fundamentally reshaping finance, has earneda bad reputationwhen it comes to energy use, thanks to the vast number of specially-designed computers needed to carry out its mining process. Read more:Hyperledger Conference Shows Where Blockchain Can Fight Global Warming How you choose to interpret bitcoin’s energy consumption depends on your perspective. Bitcoin supporters might point out that PlayStation, for instance, uses up about as much power as the Bitcoin network, according to research by Bitwise Asset Management. The reinvention of money, they’ll add, is a much loftier goal than playing FIFA 20. On the other hand, the Greta Thunberg generation may question what appears to be just another financial trading instrument – but one thatconsumes as much electricityas Chile, a country with 18 million people. Related:How Bitcoin’s Price Slump Is Changing the Geography of Mining The recent meltdown in markets caused by coronavirus raises other questions about bitcoin’s place in the world. Bitcoin, sometimes described as “digital gold,” was always seen as a safe haven for investors, un-correlated as it was with the rest of the financial system. But the coronavirus shocksaw bitcoin falleven more precipitously than the stock market. Its recent ebbs and flows havemirroredthat of the S&P 500. As economist andauthorFrances Coppola puts it: “If bitcoin can no longer be used as digital gold, what can it be used for?” Some would arguethe gradual encroachment of institutional money into bitcoin as a high-yielding alternative asset class comes with its own cost: a newfound correlation with the rest of the financial system. Indeed, there has been an assumption from some quarters of the crypto world that it’s only a matter of time until swathes of institutional investment will flow into bitcoin. This will follow as the network becomes more regulated, they say, and things like dedicated exchange-traded funds (ETFs) emerge. But with a firm focus on ESG among institutional investors of any real size, that may not happen after all, at least not at anything like the scale once predicted. “I think bitcoiners are very much hoping in the future that institutional investors will put their money in bitcoin,” said Alex de Vries, blockchain specialist at PwC. “But it’s very unlikely that shareholders of those institutions will allow companies to invest in high-carbon assets.” It’s not easy to take the temperature of large-scale buyside when it comes to crypto. When CoinDesk asked some of the largest investment firms if ESG concerns might be a factor regarding bitcoin as a hedge, most of them declined to comment. It was sort of this niche hippie topic for bleeding-heart liberals and there were certain connotations with ESG that it was largely bullshit. However, one of the largest retirement funds in the U.S., which asked not to be named, said simply: “Things like bitcoin don’t fit into our portfolio.” Within the confines of crypto, the question of ESG in relation to bitcoin does occasionally come up but it’s relatively rare, said Matt Hougan, global head of research at Bitwise Asset Management. “I would say it comes up in one out of every 20 serious conversations,” he said. However, Hougan conceded ESG is certainly the topic du jour, and he expects to hear it mentioned more often. “I fully agree that ESG has entered a sort of new era in 2020. It’s the combination of Larry Fink’s letter, of the Australia wildfires, the California wildfires, Greta’s popularity. I do think it’s top of mind. I’ve overheard ESG investing conversations in coffee shops here in the U.S., which I’ve never done in the past,” Hougan said. That said, it’s probably fair to say the bitcoin community, for the most part, is not too concerned about environmental issues. For example, Meltem Demirors, chief strategy officer of crypto-focused investment firm CoinShares, pointed out that ESG and environmental sustainability tends to come in cycles; it was a big topic 10 years ago, then it died down and now it’s big again, she said. “Historically, ESG had sort of been a backwater of investing, where you got sent if you weren’t fit for front office,” said Demirors. “It was sort of this niche hippie topic for bleeding-heart liberals and there were certain connotations with ESG that it was largely bullshit.” ESG warriors perhaps share some similarities with the crypto community: Both are growing and passionate movements, and both could be viewed as extremists by the mainstream financial services sector. And though some ESG fans see the value in blockchain for being able to track global supply chains, the goodwill does not extend to bitcoin itself. Lauren Compere, director of shareowner engagement at Boston Common Management, a majority-employee-owned and woman-led investment firm with over $20 billion in assets under management, said millennials and post-millennials want to track how a particular T-shirt is made, for example, or check its provenance using a slavery app. Read more:Everledger Looks Beyond Blood Diamonds With ESG Supply Chain Collaboration “I think from an ESG perspective, they are also looking at, ‘How does something like bitcoin fit into the ecosystem?’” said Compere. “What kind of impact does it have on things like climate? Is it a contributor? Is it an enabler?” Brett Wayman, VP of impact investing at Envestnet, a provider of software to financial advisors, said it’s a question of deciding if the benefit of cryptocurrency as a separate asset class outweighs the negatives of the environmental impacts of Proof-of-Work (PoW) consensus mechanisms. I think the climate problem will force bitcoin to self-regulate or reconfigure itself. “Right now I think the environmental impact is pretty extensive. I do think that bitcoin is an interesting investment. But from an energy usage standpoint, my understanding is that it will only become more and more energy-intensive to mine some of these currencies,” said Wayman. (That likely doesn’t hold for cryptocurrencies based on the less-mining-intensive Proof-of-Stake (PoS), which includes the forthcomingoverhaul of Ethereum, the second-largest crypto by market cap.) Martin Vezer, manager of thematic research at Sustainalytics, which is 40 percent owned by Morningstar, said there are clear environmental concerns when a coin relies on mining, which can be quite energy- and carbon-intensive depending on where the electricity is coming from. “A fundamental question for investors to consider is whether a cryptocurrency is a commodity that actually adds value. In the early trends that we see, a lot of people appear to be buying and selling cryptocurrency as a short-term bet rather than a long-term investment. Sure, this gamble has paid off for some, but others have lost money,” said Vezer. Responsible investors typically look for long-term opportunities with a clear value proposition rather than a short-term betting opportunity, Vezer added. “They weigh the environmental and social risks associated with an asset before adding it to their portfolio,” he said. While much of the data is based on estimates,it’s thought that close to 75 percentof bitcoin mining is fuelled by renewable energy. Bitcoin miners are nomadic and will migrate to the cheapest sources of energy. Over half of all bitcoin miningtakes place in China’s Sichuan province, which has excessive hydropower capacity. The portability of bitcoin mining rigs allow for interesting innovations such as consuming wasted energy from oil wells. In such cases, trapped gas is vented into the atmosphere or burnt off by flare towers because it’s not deemed worthwhile to capture and transport. Steve Barbour, the founder of Upstream Data, which operates bitcoin mines on oil fields in Canada, has even described bitcoin mining as a “conservation machine.” The vented gas fuels a generator that the mining computers are plugged into. It’s a relatively low capital expenditure for an oil company, said Barbour, especially when presented with the prospect of future BTC returns. Read more:Yale Researchers Turn to Hyperledger to Track Carbon Emissions Upstream Data is planning bitcoin mining trials with Canadian Natural Resources, a Toronto Stock Exchange-listed oil and gas producer that reported over $21 billion in revenue last year, Barbour told CoinDesk. “What we are doing with bitcoin mining reduces venting of methane into the atmosphere,” he said. “It’s an example of how an ESG narrative around bitcoin is at least incomplete.” However, Martin Wainstein of the Yale Open Climate project, an advocate of cryptocurrencies and blockchain technology generally, said he remains skeptical of such “green” endeavors. “Even though they have gotten very creative to be energy efficient at sources where you have waste, bitcoin is out of control and doesn’t work the way it was designed for,” said Wainstein. “I think the climate problem will force bitcoin to self-regulate or reconfigure itself.” • Plastics Recycling Looks Promising to Enterprise Blockchain Startups • Miners Are Selling More Bitcoin Than They Are Mining || Blockstack Wins Patent for Its Dapp Single Sign-On Product: Blockstack, the control-your-data decentralized web developer, has patented the process behind its single sign-on for every dapp system, Blockstack Auth. The patent covers Blockstack’s method for cryptographically signing into dapps with a single digital identity, without requiring a third party to authenticate. The system received USPTO’s approval on March 24 following an uncharacteristically short eight month wait – most applications sit for about 32 months, according to Erickson Law Group – and exactly three years after Blockstack’s 2017 release of the Auth developer version . Related: Microsoft Files Patent Application for Crypto Mining System Powered by Human Activity Blockstack Auth aims to be Web 3.0’s one-password-to-rule-them-all, the patent documents show. It’s functionally similar to Google and Facebook’s massively popular one-click sign in processes that integrate with hundreds of thousands of websites. “But the underlying data flow is unlike” the big tech’s OAuth protocol-reliant authentication services, the patent description reads. Those third-party platforms remove user control by checking all information against their centralized servers. Serverless Blockstack Auth gives it back – through public key cryptography. The process works by exchanging JSON web tokens between the dApp and the Blockstack browser. At sign in, the dApp generates an “ephemeral transit key” whose public portion it sends to the browser through an “authRequest” token. The browser in turn encrypts an “app-private key” with that public portion, which it then returns to the dApp in an “authResponse” token. “This inventive realization obviates the need for a server-side identity provider,” the patent read. Related: Torus Launches to Bring One-Click Login to Web 3.0 The patent’s language is at times nearly identical to Blockstack’s March 10, 2020, explainer article on Blockstack Auth, with verbatim subheadings and subtle differences attributable to the less declarative voice with which applicants write submissions. Story continues (For example, the patent reads: “These tokens can be related to JSON Web Tokens (JWT), and they can be passed via URL query strings,” whereas the GitHub-editable March 10 explainer reads: “These tokens are JSON Web Tokens, and they are passed via URL query strings.”) Open source , closed ownership The granting, Blockstack’s first, gives legal clout to the Public Benefit Corporation’s universal login tool for the decentralized web. But intellectual property rights bring more than just legal protection for the GitHub-loving Blockstack. It also prompts thorny questions about partitioning off ideas in a space, and by a company that claims to put open-source at the “heart of everything we do.” Two days after the patent’s issuance, Blockstack CEO Muneeb Ali opened a forum to discuss “Blockstack PBC and patents.” CoinDesk was directed to the forum after reaching out to Blockstack for this story. “We don’t want to be in a position where some other (large) company files a patent similar to the work PBC and the community is doing,” he wrote, pointing to the “recent surge” of big tech companies, such as IBM, that file seemingly endless reams of blockchain patent applications. Ali wrote that Blockstack may file patents on its core team’s efforts – purely for “‘defensive’ reasons.” He left the door open on transferring patents to the independent Stacks Foundation, procuring a defensive patent license, or even pledging to never initiate enforcement, as Tesla did in 2014 . The discussion partially answers questions raised in November 2017, when Twitter user @lightcoin, who had come across a separate Blockstack patent still waiting for approval, called on the firm to explain its patent strategy. “Patents are like nuclear weapons: the best way to prevent them from being abused is to not create them in the first place,” @lightcoin said . At the time Ali said Blockstack had to stake its claims before others did. He promised to “post about our future patent strategy” at a later date. The debate is similar to one crypto exchange Coinbase faced. CEO Brian Armstrong said in the past that he believes “patents should be abolished” but, like Blockstack, sees it as necessary to build a portfolio for “defensive” reasons. Related Stories Muneeb Ali Explains Blockstack’s Big Bet on Bitcoin Blockstack’s New Consensus Mechanism Creates New Use Case for Bitcoin || Number of Bitcoins on Crypto Exchanges Hits 18-Month Low: The total number of bitcoins held in cryptocurrency exchanges wallets dropped to an 18-month low just above 2.3 million on Monday, according to data estimates from Glassnode . The decline marks an 11% year-to-date reduction in the number of bitcoins held by exchanges. Meanwhile, over the same period, the amount of ether in exchange wallets increased by more than 7%. Some market participants see this as a sign that more bitcoin investors are increasingly taking direct possession of their cryptocurrency. “People are accumulating aggressively, and the market participants seem to have a higher time preference these days,” said Avi Felman, head of trading at Stamford, Conn.-based BlockTower Capital. “I think the trend is going to continue.” Related: Market Wrap: Bullish Traders Push Bitcoin Over $9,100, Returning to Halving Levels A portion of these active and often ideologically motivated bitcoin accumulators are called “holders of last resort,” a label implying they never intend to sell regardless of market movements. This type of investor partially contributes to the decline in exchange bitcoin balances by continuing to “accumulate for the long term and self-custody their bitcoins,” said Pierre Rochard, bitcoin strategist at Kraken, the largest U.S.-based cryptocurrency exchange by liquidity according to Cryptowatch . Speaking with CoinDesk, Rochard added that “improvements in fiat rails” also materially contribute to this trend by enabling arbitrage traders to “be more capital efficient and thus hold fewer bitcoin.” Read more: Crypto Custodian BitGo Joins Race to Provide Prime Brokerage Services Related: Goldman Sachs: Cryptocurrencies ‘Are Not an Asset Class’ It’s important to note that on-chain data analysis of exchange balances is only an estimate given that some exchange addresses may be overlooked by or unknown to data aggregators. The downward-sloped trend, however, is nonetheless pronounced. “On-chain data is not perfect and new exchange wallets may be missed,” added Rochard. Others see bitcoins leaving exchanges for a reason completely unrelated to strong-willed, die-hard investors, however: the rise of prime brokers. Felman added that currently “there are few alternatives to holding bitcoins on an exchange if you want to trade, but new offerings in the prime brokerage space will lead to greater outflows from exchange-specific wallets.” On Thursday, for example, trading and lending firm Genesis (like CoinDesk, owned by DCG) acquired Vo1t as part of its strategy to become a full-service prime brokerage. Tagomi, a digital asset prime brokerage, was also recently acquired by Coinbase in the San Francisco-based exchange’s bid to expand its institutional trading service. Story continues Read more: Coinbase Buys Tagomi as ‘Foundation’ of Institutional Trading Arm Regardless of the reason, a “consistent decline in the supply of bitcoin on exchanges implies a strong level of confidence from the holder base,” said Yan Liberman, former associate at Deutsche Bank and co-founder of digital asset research firm Delphi Digital. Roughly 60% of the issued bitcoin supply hasn’t moved in over 12 months, added Liberman, and that has been a precursor to previous bullish market cycles. Related Stories Bitcoin Transaction Fees Decline as Network Congestion Eases Bitcoin News Roundup for May 27, 2020 View comments || Latest Bitcoin Cash price and analysis (BCH to USD): Bitcoin Cash has surged by more than 12.5% following yesterday’s daily candle close, as it now takes aim at the $238 and $282 levels of resistance. The industry’s fifth largest cryptocurrency now has a market cap of $4.24 billion, a sharp increase from yesterday evening when it was $3.85 billion. The rally came after a test of the $202 level of support, that was also key in the later stages of 2019 before the impressive hike to $493 in February. While breaking above the $238 level of resistance will initially be key, the daily 200 moving average coming in at around $270 will be the key point to break through. A break above the 200MA following five weeks of trading below it would indicate a clear shift in sentiment, which may well tie in to the upcoming Bitcoin halving. The Bitcoin halving will take place in May, with rewards for miners being slashed from 12.5BTC per block to 6.25BTC per block. The event is historically bullish, with the two previous occasions preceded a series of cryptocurrency bull markets and consecutive all-time highs. Altcoins like Bitcoin Cash typically perform well after BTC’s initial rally and consolidation as traders take profits and diversify into more speculative assets. If Bitcoin Cash can break above at least $270, if not $328 by the halving, it will set itself up perfectly for major upside in the second half of the year. 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 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. Story continues 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 . Follow us o || Miners Trick Stablecoin Protocol PegNet, Turning $11 Into Almost $7M Hoard: Rogue miners submitted phony price data that tricked decentralized stablecoin network PegNet into turning a small wallet balance into a $6.7 million stash. At approximately 05:00 UTC Tuesday morning, four mining entities – which together comprised as much as 70 percent of the PegNet hashrate – submitted data that artificially inflated the price of a “pJPY,” a stablecoin pegged to the price of Japanese yen,according to a core developergoing by the username “WhoSoup.” Beginning initially with a wallet balance of $11, the group pushed the price of pJPY up to $6.7 million and then transferred it into pUSD – PegNet’s USD-linked stablecoin. They then tried (unsuccessfully) to liquidate as much as possible on spot exchanges and distribute the remainder in hundreds of different wallet addresses. Related:Libra’s Long Road From a Facebook Lab to the Global Stage: A Timeline PegNet is a decentralized network, built on top of the Factom protocol, where users can trade stablecoins pegged to 42 assets. Besides fiat currencies, there are also digital assets pegged to commodities, such as gold, and other cryptocurrencies includingbitcoinandether. See also:Hacker Exploits Flaw in Decentralized Bitcoin Exchange Bisq to Steal $250K The network relies on miners to submit price data collected from a series of oracles and APIs to keep stablecoin prices pegged to their fiat equivalents. Each block requires up to 50 data points, and the protocol discards the 25 submissions furthest away from the total average. Most use the third to fourth default sources, but miners are also able to submit their own arbitrary values. “WhoSoup” told CoinDesk this isn’t normally a problem as the system works to incentivize miners – with a block reward – to submit price data in line with those of other submissions. Related:Stablecoins Aren’t Inflating Crypto Market, Study Concludes Over Discord, the developer explained the miners essentially performed a form of 51 percent attack by submitting 35 of the top 50 price submissions, skewing the average in their favor and meaning that the remaining 15 price submissions were discarded as outliers. With the fake exchange rate, the miners converted the inflated pJPY into pUSD so the overall wallet balance rose from $11 worth of pJPY tokens to well over 6.7 million pUSD which, assuming accurate price data, should be worth $6.7 million. Tuesday’s attack lasted about 20 minutes and apparently did not affect other users’ funds. David Johnston, who as well as being Factom Inc. chairman is also one of the main figures behind PegNet, told CoinDesk that group had no control over transactions and conversion of other users, but could only confirm price data. “This attacker seems to have only affected their own wallet,” he said. Johnston added that the attacker had not been able to transfer much of the pUSD into the PegNET’s native PEG cryptocurrency, as the protocol’s software doesn’t allow quick conversions. “This person was able to generate a bunch of pAssets, but not able to convert them into PEG and dump on the market,” he said. The way PegNet is configured means the identity of individuals controlling the mining entities cannot be known. While there were four mining entities that worked in unison, it isn’t clear whether these were all controlled by the same person or whether this was the work of a group. See also:Why This Global Crisis Is a Defining Moment for Stablecoins But there are still some unanswered questions. The attacker has since reached out to PegNet and claimed they were only trying to “pentest [penetration test] the network and code logic,” to identify potential vulnerabilities and notify core developers. They have also destroyed all the stablecoins in question, sending them all to thePegNet burn addressat roughly 14:00 UTC Tuesday. Both Who and Johnston refused to be drawn on the motives behind the attack. “I can’t speak to intent of this person just their actions,” Johnston said. “Their actions were to generate the pAssets and then destroy those pAssets. [It] seems like more of a stunt than an attack given the short time it lasted and their actions since.” The attacker’s decision to burn the assets seems to mirror the actions of the hacker whodrained dForceof $25 million at the weekend and then handed back stolen assets after learning Singaporean authorities had their IP address. Johnston said PegNet would now review some of its oracle mechanisms, to ensure they are robust enough to withstand these sorts of attacks again in the future. See also:Factom Inc. ‘Faces Liquidation’ After Investors Refuse Request for More Funding “I fully expect more sophisticated attacks over time. As values in DeFi networks rise there is ever more reason to attack them,” he said. “The key is building systems like PegNet where individual users are not affected by the actions of others in the system. So because PegNet has no reserve or collateral held in a pool, there were no common user funds to drain.” PegNet isn’t certain yet whether the miners were able to offload any of the pUSD on to cryptocurrency exchanges. • dForce Hacker Returns Almost All of Stolen $25M in Crypto • Facebook’s ‘Scaled Back’ Libra Proposal Is More Dangerous Than You Think || Rand Corporation report finds bitcoin is still the dark web’s preferred cryptocurrency: A newly-published study from think tank Rand Corporation explored the use of the privacy-centric cryptocurrency Zcash among criminals. Perhaps unsurprisingly, the report found that bitcoin is still king in those circles. As first reported by Forbes , the Electric Coin Company – the company behind Zcash – commissioned the study , which was released on May 6. Zcash "has only a minor presence on the dark web," according to the think tank, "indicating that Zcash is seen as a less attractive option to dark web users and is used less often compared to other cryptocurrencies, particularly Bitcoin and Monero." Specifically, Rand looked at three areas: money laundering, terrorism financing and illicit goods trade, of which Zcash seemingly plays a small role compared to more-widely used cryptocurrencies in this context. "While there are certainly some indications or anecdotal evidence that Zcash may have been used or advertised for illicit purposes, there is no evidence of widespread illicit use of Zcash. Of course, absence of evidence does not equate to evidence of absence, meaning that enduring vigilance against malicious use of this cryptocurrency is nonetheless important," the report noted. "We didn't find any significant evidence that the zcash was used for illicit activities, but also as we know, that doesn't mean that zcash isn't at all used for illicit activity," Rand Europe analyst Erik Silfversten was quoted as saying by Forbes. "We have to look at technology as a neutral, that it could be used for a wide variety of applications, and then we have to look at the actual evidence." The findings echo those published last October by The Block Research , which found bitcoin, monero, and litecoin are the most-frequently-used cryptocurrencies by dark web marketplaces. Of the 31 dark web marketplaces surveyed at the time, 29 utilized bitcoin, whereas just two offered Zcash support. © 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. View comments || The Crypto Daily – Movers and Shakers -20/04/20: Bitcoin fell by 1.87% on Sunday. Partially reversing a 3.17% gain from Saturday, Bitcoin ended the week up by 3.13% to $7,133.3. It was a bearish end to the week for the crypto market. Bitcoin slid from an early morning intraday high $7,285.4 to an early afternoon intraday low $7,056.9. Steering clear of the major resistance levels, Bitcoin fell through the first major support level at $7,096.7. Finding support through the afternoon, however, Bitcoin recovered to $7,200 levels 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 bearish day on Saturday. Bitcoin Cash ABC (-4.04%), Bitcoin Cash SV (-4.81%), EOS (-4.72%), and Litecoin (-4.39%) led the way down. Binance Coin (-3.48%), Cardano’s ADA (-3.08%), Ethereum (-3.97%), Ripple’s XRP (-3.46%), Stellar’s Lumen (-3.28%), Tezos (-3.42%), and Tron’s TRX (-3.42%) were close behind, however. Monero’s XMR saw a more modest 1.60% loss on the day. It was a relatively mixed week for the majors, however. Binance Coin (+12.53%), Ethereum (+13.58%), and Tezos (+12.27%) led the way. Cardano’s ADA (+6.35%), EOS (+4.09%), Monero’s XMR (+6.59%), and Tron’s TRX (+2.59%) trailed the front runners. Bitcoin Cash SV (+1.33%), Litecoin (+0.67%), Stellar’s Lumen (+0.73%) also ended in the green. Bitcoin Cash ABC ended the week flat, however, with Ripple’s XRP falling by 0.28% to buck the trend. Through the week, the crypto total market cap rose to a week high $210.88bn on Sunday morning. A Wednesday sell-off had seen the total market cap fall to a week low $187.38bn. At the time of writing, the total market cap stood at $208.88bn. 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%. Story continues 24-hour trading volumes rose from sub-$120bn levels to a week high $168.48bn on Thursday before easing back. At the time of writing, 24-hr volumes stood at $124.99bn. This Morning At the time of writing, Bitcoin was up by 0.66% to $7,180.1. A mixed start to the day saw Bitcoin fall to an early morning low $7,100.0 before striking a high $7,210.2. Bitcoin left the major support and resistance levels untested early on. It was a bullish start to the day for the rest of the majors. Tezos led the way early on, with a 3.28% gain. BTC/USD 20/04/20 Daily Chart For the Bitcoin Day Ahead Bitcoin would need to move through to $7,200 levels to bring the first major resistance level at $7,260.17 back into play. Support from the broader market would be needed, however, for Bitcoin to break out from the morning high $7,210.2. Barring another broad-based crypto rally, the first major resistance level and Sunday’s high $7,285.4 would likely cap any upside. In the event of a broad-based crypto rally, the second major resistance level at $7,387.03 would come into play. Failure to move through to $7,200 levels could see Bitcoin hit reverse. A fall through to sub-$7,150 levels would bring the first major support level at $7,031.67 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: Oil Slumps As Supply Glut Continues European Equities: Economic Data to Take a Back Seat, with Lockdown Plans in Focus USD/JPY Forex Technical Analysis – Trader Reaction to 108.008 Could Set Weekly Tone Natural Gas Price Fundamental Weekly Forecast – Bullish Tone Fueled by ‘Hefty Drop’ in Nat Gas Rigs EUR/AUD Bearish Breakout Targeting 1.6990 and Below Coronavirus News and Sliding Crude Oil Prices To Test Risk Appetite [Random Sample of Social Media Buzz (last 60 days)] None available.
Trend: up || Prices: 9525.75, 9439.12, 9700.41, 9461.06, 10167.27, 9529.80, 9656.72, 9800.64, 9665.53, 9653.68
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)] What Is an Enterprise Blockchain?: An “enterprise blockchain” is a type of permissioned blockchain that can be used to streamline business processes at scale, such as track supply chain goods or settle global payments. Corporations believe this type suits their needs better than a public blockchain network, such as Bitcoin, because the visibility of their data can be restricted to a select group of people. While there are differenttypesof blockchains, they are all essentially digital records of financial transactions and data that are shared among a group of entities. They also use cryptography to make it difficult for malicious agents to manipulate the history of previous transactions. Related:Fugitive BitMEX CEO Arthur Hayes Reemerges to Weigh in on GameStop Saga Facebook, IBM,JPMorgan, Walmart and Intel are just some of the big companies exploring enterprise blockchains and how this modern technology can be leveraged to improve transparency and optimize existing business operations. A vast majority of enterprise blockchains are “permissioned blockchains,” meaning companies have direct control over them. For instance, they can block transactions that do not comply with their rules, or if law enforcement asks them to do so. This is one of the biggest differences that sets permissioned ledgers aside from public ones like the one Bitcoin is built on. Public blockchains exist outside the control of any one company or government and are resistant to censorship. This is whybitcoinand other cryptocurrencies have been used successfully to circumvent international sanctions and even combat domestic cases ofextortion. While companies aren’t keen on this aspect, many have determined that they might be able to use the underlying technology to revolutionize payments and other areas of business. Related:Bitcoin Breaks $55K; Will the Rally Continue? Some of the main characteristics of enterprise blockchains include: • Accountability:Each node in the network – which each holds a copy of the transaction history – is known and can be held accountable for its actions. For example, often enterprise blockchains are shared by a few companies or financial entities in a cooperative format. • Permissioned:Only users who have permission can use the blockchain. The network owner(s) can choose who’s allowed to use it and who’s not. • Mutable:If all entities managing the network agree, the data can be changed. • Scalability:Because enterprise blockchains are typically not as decentralized as Bitcoin, they can easily support more transactions at the base layer. Enterprise blockchains are generally permissioned, falling into two categories: • Private:A central party determines the rules of the network and can change them at will. This central party determines who can contribute to the network by, for example, validating new transactions. JPMorgan’s jpmcoin falls into this category. • Consortium:A group of two or more parties jointly define the network rules, and each entity can contribute to the network. The Facebook-backed libra (now diem) currency falls into this category. Enterprises could also conceivably use a public ledger system like Bitcoin, but most choose not to.Microsoft’s identity project IONis an outlier for doing so. Blockchains can be useful, but not every company needs one. CoinDesk has put together achartwith some of the questions you might want to ask and answer before proceeding down the rabbit hole. Computer science researchers put forth a similar, moreformal paperfor determining which scenarios blockchains are best suited for. A globalsurveyof companies conducted by Deloitte in 2019 found 53% of respondents said that “blockchain technology has become a critical priority for their organizations in 2019,” a 10% increase over 2018. • R3 • Hyperledger • Enterprise Ethereum • Paxos • Digital Asset Holdings Big companies with household name recognition are exploring this type of distributed ledger technology and don’t want to be left behind. Notable companies exploring them include: • Facebook • Mastercard • IBM • Intel • Walmart Many companies have been exploring the advantages of enterprise blockchains for years. But the technology is far from taking over the world just yet. Most companies are still in the testing phase and haven’t rolled out production-ready versions.Whereas before companies working on these solutions have mostly been rivals, recently many of these same companies have beenpartneringwith existing blockchain projects. • What Is an Enterprise Blockchain? • What Is an Enterprise Blockchain? || Honeywell’s Shares Fall as Q4 Profit Slumps About 13%; Target Price $210: Honeywell International ’s shares slumped about 4% on Friday after the technology and manufacturing company reported about 13% fall in quarterly profit as the COVID-19-related travel restrictions and a collapse in air travel continues to hammer demand. The company which makes parts for planes made by Boeing and Airbus SE said its net income declined to $1.36 billion, or $1.91 per share, in the last quarter of 2020, from $1.56 billion, or $2.16 per share, a year earlier. Adjusted EPS came in at $2.07, beating the Wall Street consensus estimate of $2.0 per share. Honeywell forecasts 2021 earnings per share of $7.60-$8.00, up 13-19%, and sales between $33.4 billion and $34.4 billion. “The path to recovery was in focus, with the 2021 outlook. We lower our 2021 sales estimate to $65.2BB (vs $63.4-65.4BB guide) from $67.9BB previously to reflect a slower recovery in commercial aero, with Collins’ commercial businesses likely down slightly y-o-y. Our 2021 EPS est. moves to $3.60 from $3.35 to reflect 80% incrementals at Collins commercial through Q2-Q4, with RTX segment margins exiting the year at 9.6%,” said Sheila Kahyaoglu, equity analyst at Jefferies. “Given ongoing recovery, we forecast EPS rises to $6.20 (up from $5.50 prior) through 2023 reflecting commercial AM sales 2% above 2019 peak, while OE could be 18% below peak. We est. a 3% CAGR for the defence businesses (RMD + RIS) over the period.” Honeywell International shares closed 3.68% lower at $195.37 on Friday. However, the stock rose 20% in 2020. Honeywell International Stock Price Forecast Seventeen analysts who offered stock ratings for Honeywell International in the last three months forecast the average price in 12 months at $210.19 with a high forecast of $245.00 and a low forecast of $175.00. The average price target represents a 7.59% increase from the last price of $195.37. From those 17 analysts, nine rated “Buy”, eight rated “Hold”, and none rate “Sell”, according to Tipranks. Story continues Morgan Stanley gave a base target price of $220 with a high of $264 under a bull scenario and $158 under the worst-case scenario. The firm currently has an “Equal-weight” rating on the manufacturing company’s stock. Several other analysts have also recently commented on the stock. Honeywell International had its price target boosted by UBS Group to $216 from $180. UBS Group currently has a neutral rating on the conglomerate’s stock. Jefferies Financial Group lowered from a buy rating to a hold rating and lifted their target price to $210 from $190. In addition, JP Morgan lifted their target price to $200 from $198 and gave the company an overweight rating. Barclays lifted their target price to $225 from $180 and gave the company an overweight rating. HSBC lowered to a hold rating from a buy and set a $200.00 target price. Analyst Comments “All the ingredients are present for “typical” Honeywell (HON) year of beats and raises with appropriate conservatism to start the year. We see upside as driven by comm’l aero aftermarket, software acceleration, and SPS leverage. HON’s long-cycle businesses should start to recover more substantially later in 2021 with Aero’s trajectory less certain. We expect Aero to remain weak through 2021 as flight hours see sharp declines and maintenance gets deferred until 2022,” said Joshua Pokrzywinski, equity analyst at Morgan Stanley. “The company’s software offerings should be very attractive to customers as digital transformation accelerates post-COVID and we believe this can partially offset the delayed recovery related to the longer cycle core businesses. We see HON’s balance sheet capacity and repatriation potential as attractive, especially given management’s discipline in M&A to appropriately balance growth, value, and disruption.” Upside and Downside Risks Risks to Upside: 1) Aero growth is stronger than expected with a positive margin mix. 2) PMT orders materialize to M-HSD growth next year – highlighted by Morgan Stanley. Risks to Downside: 1) Margin expansion slower than expected. 2) Continued inflation and an escalating tariff environment with a lack of offsetting price increases represent a potential headwind. Check out FX Empire’s earnings calendar This article was originally posted on FX Empire More From FXEMPIRE: Honeywell’s Shares Fall as Q4 Profit Slumps About 13%; Target Price $210 Bitcoin and Ripple’s XRP – Weekly Technical Analysis – February 1st, 2021 AUD/USD Daily Forecast – Australian Dollar Rebounds At The Beginning Of The Week Top 3 Best 5G Stocks to Buy European Equities: Economic Data and COVID-19 in Focus The Crypto Daily – Movers and Shakers – February 1st, 2021 || EUR/USD Forex Technical Analysis – Strengthens Over 1.2197, Weakens Under 1.2151: The Euro is edging higher late in the session on Wednesday as dovish testimony from Fed Chair Jerome Powell bolstered concerns about rising inflation. Powell reiterated on Wednesday that U.S. interest rates will remain low and the Fed will keep buying bonds to support the U.S. economy. The Fed’s commitment to low rates has some investors worried that inflation could spike on passage of further fiscal stimulus. Powell’s remarks to the House Committee on Financial Services mirrored his testimony before the Senate on Tuesday. At 20:33 GMT, the EUR/USD is trading 1.2160, up 0.0012 or +0.10%. This is up from an earlier low of 1.2109. Daily EUR/USD Daily Swing Chart Technical Analysis The main trend is down according to the daily swing chart, however, momentum is trending higher. The main trend will change to up on a trade through the last main top at 1.2190. A move through 1.1952 will reaffirm the downtrend. The minor trend is up. This is controlling the momentum. The minor trend will change to down on a move through 1.2023. Taking out 1.2180 will make 1.2109 a new minor bottom. The short-term range is 1.2349 to 1.1952. The EUR/USD is currently testing its retracement zone at 1.2151 to 1.2197. This zone is controlling the near-term direction of the Forex pair. The main retracement zone support is 1.2074 to 1.2010. This zone is protecting the downside against a steep break. Near-Term Outlook The direction of the EUR/USD into the close on Wednesday and perhaps early Thursday will be determined by trader reaction to the short-term 50% level at 1.2151. Bullish Scenario A sustained move over 1.2151 will indicate the presence of buyers. This could lead to a rally into a cluster of levels including the minor top at 1.2180, the main top at 1.2190 and the main Fibonacci level at 1.2197. The daily chart shows there is plenty of room to the upside over 1.2197 with the main top at 1.2349 a potential target. Therefore, we’re looking at 1.2197 as a potential trigger point for an acceleration to the upside. Story continues Bearish Scenario A sustained move under 1.2151 will signal the presence of sellers. This is also a potential trigger point for an acceleration to the downside with 1.2074 the next likely target price. 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: Silver Price Daily Forecast – Silver Declines As Treasury Yields Rise Gold Price Prediction – Rising Treasury Yields Cap Gold Prices Advances Crude Oil Price Forecast – Crude Oil Markets Continue Parabolic Move Natural Gas Price Prediction – Prices Slide Ahead of Inventory Report USD/CAD Daily Forecast – Canadian Dollar Moves Higher On Strong Oil Are Your Clients Buying Bitcoin? Here’s What You Can Do About It || Avalanche Developers Rush Client Patch as ‘Bug’ Slows Blockchain Transactions: The Avalanche network has come to a near halt after “a bug in the cross-chain functionality” code that enables the Avalanche protocol and the Ethereum Virtual Machine (EVM) to speak with each other failed under high loads, according to the Avalanche developer team on Reddit . The release of Avalanche ‘s newest decentralized finance (DeFi) product, money market Pangolin, snowballed into “insane load” for the network, which further “triggered a very low probability bug that produced a bad state in the network,” the team said on Reddit . The ability to send transactions has crawled to a halt with some users reporting wait times of up to four hours for finalizing a transaction. Funds are safe, however. Related: T-Mobile Sued Over SIM Attack That Resulted in Loss of $450K in Bitcoin The network has gone into a “self-healing” mode after the bug “caused the entire network to panic.” The team maintains nothing with the core protocol itself is wrong. Avalanche developers worked overnight on the code break, but will only push an update once the team is “100% confident” it will address the problem. The Avalanche developer team did not return answers to questions by press time. This is a developing situation and will be updated. Related Stories Avalanche Developers Rush Client Patch as ‘Bug’ Slows Blockchain Transactions Avalanche Developers Rush Client Patch as ‘Bug’ Slows Blockchain Transactions Avalanche Developers Rush Client Patch as ‘Bug’ Slows Blockchain Transactions View comments || ISW Holdings Announces Pod5 Crypto Mining Pod Set to be Powered Up on February 12: Las Vegas, NV, Feb. 09, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- ISW Holdings, Inc. (OTC: ISWH) (“ISW Holdings” or the “Company”), a global brand management holdings company with commercial operations in Telehealth and Cryptocurrency Mining, is excited to announce that its revolutionary Pod5 Cryptocurrency Mining Pod will be powered up into full operational launch at the Bit5ive renewable energy cryptocurrency mining facility in Pennsylvania on February 12, 2021. “We are very excited to finally be ready to launch full mining operations at a time when margins are at historic levels following further strength in the value of cryptocurrency assets,” commented Alonzo Pierce, President and Chairman of ISW Holdings. “But make no mistake about it: we are doing this because we have a fundamental belief in the long-term future viability of cryptocurrency systems as stores of value and legitimate platforms for global commerce. We started diversifying our cash into Bitcoin nearly two years ago. And we partnered with Bit5ive early last year and began the design for our Pod5 unit when Bitcoin was still under $10,000 per coin.” The Company formed a joint venture partnership with Bit5ive, LLC, (“Bit5ive”) in May 2020 to build and deliver an elegant, powerful, and efficient data center pod design. The Pod5 Datacenter is the result. Designed in partnership with Bit5ive, and geared primarily for the cryptocurrency mining industry, the Pod5 Datacenter offers next-generation dynamic self-management functionality, plug-and-play operation, virtually non-existent maintenance needs, and an industry best-in-class 1.06 Power Usage Effectiveness score. The Company’s first Pod5 Datacenter unit was completed, in terms of design, by August 2020 and had been fully assembled as of late November 2020. It was shipped to the Bit5ive Pennsylvania mining project in December 2020 and installed shortly thereafter. It is now ready for energizing and mining launch and will be switched on later this week. Pierce added, “Our long-term view on cryptocurrency assets has seen significant support from corporate and regulatory players over the past year, with the latest example being Tesla’s 10k filing on Monday announcing it has started to invest its cash in Bitcoin and plans to accept Bitcoin as payment. We have also seen major players like PayPal, Square, and JPMorgan all contribute to the growing sense of legitimacy for crypto assets. All of this puts our investment in developing the Pod5 last year on very sound footing. We will have additional news over coming days that reinforces this position.” About ISW HoldingsISW Holdings, Inc. (ISWH), based in Nevada, is a diversified portfolio company comprised of essential business lines that serve consumer product demands. Our expertise lies in strategic brand development, early growth facilitation, as well as brand identity through our proprietary procurement process. Together, with our partners, we seek to provide a structure that meets large scalability demands, as well as anticipated marketplace needs. We are able to meet these needs through a variety of strategic innovative processes. ISWH is creating and managing brands across a spectrum of disruptive industries. It maneuvers its proprietary companies through critical stages of market development, which includes conceptualization, go-to-market strategies, engineering, product integration, and distribution efficiency. The company has also partnered with a well-known software development and consulting company, Bengala Technologies LLC, which is developing significant enhancements in the supply chain management space; and the partnership has a vitally needed patent now pending. For more information, visitwww.iswholdings.com Forward Looking StatementsThis press release may contain forward-looking statements that involve risks and uncertainties. These statements relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology including "could", "may", "will", "should", "expect", "plan", "anticipate", "believe", "estimate", "predict", "potential" and the negative of these terms or other comparable terminology. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested in this report. Except as required by applicable law, we do not intend to update any of the forward-looking statements so as to conform these statements to actual results. Investors should refer to the risks disclosed in the Company's reports filed from time to time with OTC Markets (www.otcmarkets.com). Company Contact:[email protected] Public RelationsEDM Media, LLChttps://edm.media(800) 301-7883 || One Hashtag from Elon Musk Makes Bitcoin Spike in Minutes: Hannibal Hanschke/AP/Shutterstock / Hannibal Hanschke/AP/Shutterstock Tesla CEO Elon Musk added the hashtag #bitcoin to his Twitter bio today, prompting the cryptocurrency’s value to jump once again , standing at $38,500 mid-day — an 18% jump. See: Robinhood Blocks Traders on Reddit and Beyond from Buying GameStop Stock – Make Sense of the Market Mayhem Find: Short Tweet from Elon Musk Sends Random Stock Soaring In retrospect, it was inevitable — Elon Musk (@elonmusk) January 29, 2021 Bitcoin finally broke the $20,000 ceiling in December, as demand from institutional investors rapidly increased, and it broke an all-time high of $40,000 on January 7. Other big names have jumped on the Bitcoin bandwagon this week, including Ray Dalio, founder of Bridgewater Associates, one of the largest hedge funds with $138 billion in assets under management. In a note published on the firm’s website, Dalio said yesterday he believes Bitcoin is “one hell of an invention.” See: Mark Cuban: “Bitcoin is Exactly like the Dot Com Bubble” Find: Bitcoin’s Bull Run Is on a Rampage — But How Long Will It Last? “Those who have built it and supported the dream of making this new kind of money a reality have done a fabulous job of sustaining that dream and moving Bitcoin (b y which I mean it and its analogous competitors) into being an alternative gold-like asset,” Dalio writes. “There aren’t many alternative gold-like assets at this time of rising need for them (because of all the debt and money creations that are underway and will happen in the future). Because of what is going on in the world, besides there being a growing need for money or storehold of wealth assets that are limited in supply, there is also a growing need for assets that can be privately held… There exists the possibility that Bitcoin and its competitors can fill that growing need.” More From GOBankingRates: These Are the Best Banks of 2021 – Did Yours Make the Cut? 36 Ways To Save For Your Emergency Fund and Any Unexpected Situations Top 100 Banks Leading the U.S. in 2021 25 Things You Should Always Do Before Buying a Used Car This article originally appeared on GOBankingRates.com : One Hashtag from Elon Musk Makes Bitcoin Spike in Minutes || Why GameStop Stock Traders Should Beware The 'Law Of Twos And Threes': GameStop Corp. (NYSE: GME ) shares closed at $101.74 Friday after the stock surged from under $45 on Wednesday to as high as $184.68 on Thursday. Some traders may see the extreme volatility in GameStop as chaotic and unbelievable, but former hedge fund manager Whitney Tilson said Friday that GameStop and other meme stocks like AMC Entertainment Holdings Inc (NYSE: AMC ) and Koss Corporation (NASDAQ: KOSS ) have demonstrated textbook dead cat bounces this week. A dead cat bounce is a large, short-lived recovery in a stock that has experienced an extreme decline. Unfortunately, dead cat bounces tend to be bull traps for traders, tricking some buyers into prematurely believing the bottom is in. Related Link: Kevin O'Leary Of 'Shark Tank,' Benzinga CEO Jason Raznick Talk GameStop, Bitcoin And Economic Recovery Trades “Mark my words: These three stocks will never again reach the highs they hit yesterday and will continue their collapses back to their fair values, which are much lower than today's levels,” Tilson wrote in his daily newsletter on Friday morning. The Law Of Twos And Threes: Tilson said the recent trading action in GameStop, AMC, Koss and other stocks reminds him of a rule of thumb a mentor once called “law of twos and threes. “What this means, he explained, is that every stock, on its way to zero, doubles three times and triples twice!” Tilson said. While he doesn’t believe GameStop, AMC and Koss are worth zero, Tilson said they are only worth a fraction of what they are priced at today. Tilson said the trading action in GameStop and other stocks ultimately results in retail traders losing money and faith in the market, which is bad news for every investor. See also: How‌ ‌to‌ ‌Buy‌ ‌GameStop‌ ‌(GME)‌ ‌Stock‌ “What's going on sickens me — it's high time that regulators cracked down on all the things that have turned our markets into casinos,” Tilson wrote. Benzinga’s Take: Love it or hate it, there’s no question the retail short squeeze pump-and-dump strategy has worked like a charm with GameStop. Story continues Successfully timing the entry and exit points in highly volatile short squeezes can be extremely difficult, even for professional traders. Latest Ratings for GME Jan 2021 B of A Securities Maintains Underperform Jan 2021 Telsey Advisory Group Downgrades Outperform Underperform Oct 2020 Jefferies Downgrades Buy Hold View More Analyst Ratings for GME View the Latest Analyst Ratings See more from Benzinga Click here for options trades from Benzinga Kevin O'Leary Of 'Shark Tank,' Benzinga CEO Jason Raznick Talk GameStop, Bitcoin And Economic Recovery Trades GameStop Drama Continues: Soaring Stock Halted, Cramer, Citron Weigh In © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin Tops $40K for First Time, Doubling in Less Than a Month: Causing observers to run out of superlatives and Google users to query about whether a crash is coming, bitcoin’s price topped $40,000 for the first time Thursday, only hours after the leading cryptocurrency blew past $38,000 and $39,000. • The price of bitcoin set a new-all time high of $40,123.30, up 13.45% over the last 24 hours. Yesterday,bitcoinpassed $36,000 and $37,000 for the first time before rocketing today past $38,000, $39,000 and now $40,000. • It continues a wild start to 2021 and follows a landmark year in which the cryptocurrency rose more than 300%, with an almost 50% gain in December alone. On Nov. 30, bitcoinbreacheda nearly three-year-old high of $19,793. By the close of Dec. 31, the cryptocurrency had risen about $10,000. • Seven days into 2021, bitcoin is on pace to put December’s performance to shame. It’s now up 36%, or about $11,000. • Bitcoin’s price is now more than twice that previously mentioned all-time high of $19,783 reached during 2017’s bull market run. • The prevailing narrative of this record-setting run is a growingviewthat bitcoin represents a form of “digital gold,” a view that has brought a flood of institutional investors into the cryptocurrency. Among them: Anthony Scaramucci’s Skybridge Capital ($182 millionin December); insurance giant MassMutual ($100 millionin December); and Guggenheim Investments (up to 10%of its $5 billion macro fund). • The latest records, however, may have more to do with the storming of the U.S. Capitol on Wednesday by President Donald Trump’s supporters believing the election was rigged and upset by the certification process that was underway than with any inflation hedge. • Global macro uncertainty has the potential to devalue fiat currencies, which in turn could potentially increase the attractiveness of bitcoin. A disputed election followed by protestors breaking into the Capitol with at least one person being shot and killed would seem to fall under the category of “uncertainty.” • In addition, with the Democrats now in control of both the House and the Senate in the U.S. the chance of increased government spending is viewed as going up. Increased spending is considered a possible source of inflation, against which bitcoin is viewed as a hedge. • With a market value now of $746 billion, bitcoin ismore valuablethan all but seven publicly traded companies, sitting between Tesla at $758.8 billion and Tencent at $723.0 billion. • The market’s supply of dollar-pegged stablecoins is keeping pace with bitcoin’s meteoric rise. Since New Year’s Eve, the supply oftetherhas growth by over 10%, reaching 22.7 billion USDT at last check. Total supply of the runner-up stablecoin, Circle’sUSDC, has also grown by double-digit percentages so far in January, currently sitting at 4.4 billion USDC, according toGlassnode. UPDATE (Jan. 7, 13:10 UTC):Adds new all-time high, fixes current price.UPDATE (Jan. 7, 16:21 UTC):Adds new all-time high. • Bitcoin Tops $40K for First Time, Doubling in Less Than a Month • Bitcoin Tops $40K for First Time, Doubling in Less Than a Month • Bitcoin Tops $40K for First Time, Doubling in Less Than a Month • Bitcoin Tops $40K for First Time, Doubling in Less Than a Month || US STOCKS-Recovery rally drives S&P 500, Dow to new peaks: * Bank, energy stocks gain on prospects of more stimulus * Crypto stocks jump as Bitcoin briefly surges past $50,000 * Indexes: Dow up 0.3%, S&P up 0.1%, Nasdaq slips 0.2%(Updates to mid-afternoon trading, changes byline, adds NEWYORK to dateline) By April Joyner NEW YORK, Feb 16 (Reuters) - The S&P 500 and the Dow JonesIndustrial Average hit all-time highs on Tuesday as cyclicalsectors gained on the prospect of more fiscal aid to lift theU.S. economy from a coronavirus-driven slump. The Nasdaq, however, dipped as technology stocks movedlower. Sectors poised to benefit the most from a reopening economy,including energy and financials, had the biggestgains. President Joe Biden has pitched a $1.9 trillion pandemicrelief bill and is pressing Congress to pass it in the comingweeks in order to get $1,400 stimulus checks to Americans andbolster unemployment payments. The S&P 500 banking index jumped 3.2% as the yieldon 10-year U.S. Treasuries hit their highest sinceFebruary 2020. "The reflation trade continues to push equity markets acrossall industries and multi-caps ... and this rally could continuein the near-term," said Tony Bedikian, head of global markets atCitizens Bank in Boston. Conversely, utilities and real estateposted the biggest percentage losses among S&P 500 sectors, andtechnology stocks also slipped. Utilities and realestate, because of their steady earnings and high dividendyields, are often considered bond proxies and tend to move intandem with Treasuries. The technology sector includes many stocks with highearnings multiples, which may also come under pressure withrising yields, according to some market analysts. The S&P 500 backed off from session highs as yields rose onTuesday, which reflected investor worries about the day's surgein bond yields, said Robert Phipps, director at Per StirlingCapital Management in Austin, Texas. Equities would likelytolerate a gradual ascent in rates, but a sprint higher couldcreate turbulence, in his view. "Even though interest rates are still really low, the stockmarket is going to be very, very sensitive to changes," he said. The Dow Jones Industrial Average rose 97.56 points,or 0.31%, to 31,555.96, the S&P 500 gained 3.79 points,or 0.10%, to 3,938.62 and the Nasdaq Composite dropped25.65 points, or 0.18%, to 14,069.83. A sharp drop in new coronavirus infections, progress invaccinations and a stronger-than-expected fourth-quarterearnings season have reinforced hopes of a quick businessrecovery this year. This week's earnings reports from Hilton Worldwide HoldingsInc, Hyatt Hotels Corp, Marriott International Inc, Norwegian Cruise Lines and TripAdvisor Incwill be closely watched for signs of a pickup in globaltravel demand. Shares of cryptocurrency and blockchain-related firmsincluding Silvergate Capital Corp, Riot Blockchainand Marathon Patent Group jumped between 8%and 21% as bitcoin briefly climbed past $50,000. Investors will also focus this week on the minutes from theFederal Reserve's January meeting, where it reaffirmed itspledge to maintain a dovish policy stance. Advancing issues outnumbered declining ones on the NYSE by a1.04-to-1 ratio; on Nasdaq, a 1.17-to-1 ratio favored advancers. The S&P 500 posted 75 new 52-week highs and no new lows; theNasdaq Composite recorded 363 new highs and nine new lows.(Reporting by April Joyner; Additional reporting by Devik Jainand Shreyashi Sanyal in Bengaluru; Editing by SaumyadebChakrabarty and Cynthia Osterman) || Trading Bitcoin in Africa Is a Way for Some to Escape Poverty: For years, Stephen Aluko lived “hand to mouth” in Nigeria, home to a big but struggling economy in Africa with a high unemployment rate. He worked odd jobs, from running cyber cafes to “soft media” and videography, constantly mulling in the back of his mind if he would be able to pay for his next meal. He was unemployed before hearing aboutbitcoinin 2017. At that point, his shoes hardly held together. When Aluko decided to commit to trading bitcoin – buying and selling the cryptocurrency for profit – that all changed. At first he had second thoughts. He didn’t know what he was doing. But the side hustle worked out so well he’s now been trading the largest cryptocurrency full time for three years. Related:Market Wrap: Bitcoin Descends to $31K as Ether Funding Rates Drop “My finances were not in a good state when I started trading, so you could say bitcoin trading saved me,” Aluko told CoinDesk. “I have made enough money from trading bitcoin that I have been able to get married and can live comfortably without any debts.” This is one example of someone using bitcoin in an unanticipated way to improve his life. And there are many other examples around the world, from Argentina to Iran. “The money I have made from bitcoin trading has made it possible for me to invest in other businesses, be financially independent and live debt-free. So, I do think I have made more money with bitcoin than if I had chosen another career path,” he said. The recent bitcoin bull run didn’t have anything to do with Aluko’s success. CoinDesk talked to Aluko about the rise of bitcoin trading in Africa in August 2020, before the price of bitcoin surpassed its previous all-time high, launching into a bull run. Related:The Bitcoin Double-Spend That Never Happened Aluko knows plenty of other traders who found themselves in a similar position. “It’s not unique to me,” he said. “I know many people in Nigeria [who] trade bitcoin as a way to earn a living. I have also taught people how to trade bitcoin because I know how bitcoin trading has changed my life and I want to be able to help people.” He argues that one factor driving so many people to trading is the high unemployment rate in the region. The situation has only gotten worse since Aluko was unemployed. In Nigeria, for instance, the unemployment rate hastripledover the past five years, swelling to 27%. “Let’s just say that the numbers are not encouraging. There’s a chance that if I had worked hard and done a lot more applying to companies I may have gotten a decent job. But when I think about what I have achieved in three years as a result of trading bitcoin I am sure that I made the right choice,” Aluko said. Other Africans have made the same career decision, giving bitcoin and cryptocurrency trading a try. African exchange Quidax CEO and co-founder Buchi Okoro said this is one of the key reasons people use the exchange. “From our conversations with our customers, we have a lot of people using crypto to earn a living by trading as a full-time job,” Okoro told CoinDesk. Then there’s speculation, which is a bit different from trading. Speculation is investing in a risky asset, such as cryptocurrency, with the hope the price will go up and enrich the investor. “Though bitcoin is used for speculation universally throughout the world, it hits differently in Africa,”KenyaCoin, a pseudonymous bitcoin enthusiast from Kenya, told CoinDesk, pointing to unemployment rates, as Okoro had. “There are huge numbers of university graduates who simply cannot find employment in the country. Those with the means, especially those who studied economics, finance or tech, take up speculation in the crypto space to either try to supplement whatever income they do have or as a substitute for ’employment,'” he added. KenyaCoin guesses that speculation is “the number one activity involving bitcoin and crypto on the continent.” The rise of bitcoin and crypto in Africa has not necessarily been all rainbows, however. There’s a dark side to this trend, too. Some people have gotten hurt from trading and speculation. Much like the rest of the world, as Africans have explored cryptocurrency as a route to a better income, some have lost money or have fallen for a number of scams. Many Nigerians, for instance, first heard about bitcointhrough MMM, a Russian Ponzi scheme that promised investors 100% returns. When MMM didn’t fulfill these lofty promises, participants lost their money. KenyaCoin pointed to infamous cryptocurrency scams BitClub network and Onecoin as other examples of “bad” projects that have flourished in the region, as well as lesser-known scams such as Nurucoin and Crowd1. “Scams often target victims in developing countries, as regulations in the finance and investment space are not always solid and/or enforcement is oftentimes lagging,” he said. Bitcoin and other cryptocurrencies are still new so people in Africa – as well as the rest of the world – are still getting a handle on which cryptocurrency projects are actually useful for them rather than harmful. • Trading Bitcoin in Africa Is a Way for Some to Escape Poverty • Trading Bitcoin in Africa Is a Way for Some to Escape Poverty [Random Sample of Social Media Buzz (last 60 days)] None available.
Trend: up || Prices: 45137.77, 49631.24, 48378.99, 50538.24, 48561.17, 48927.30, 48912.38, 51206.69, 52246.52, 54824.12
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 2018-03-14] BTC Price: 8269.81, BTC RSI: 36.14 Gold Price: 1324.40, Gold RSI: 49.92 Oil Price: 60.96, Oil RSI: 45.87 [Random Sample of News (last 60 days)] Commodities Daily Forecast – March 2, 2018: Gold prices have managed to bounce off from the lows as the weakness of the dollar provided the saving grace for the dollar bulls. The region around $1300 should act as strong support for the short term.…Read More Silver prices continued to trade in a tight consolidative manner and the range continues to be within the $16 and the $17 region for now. This is expected to last for the medium term.…Read More Oil prices continued to move lower, something that they have been doing ever since the beginning of the week. This has happened despite the weakness in the dollar but there is nothing to panic as the major moves in this market are all done and dusted for the short and medium term.…Read More Gas prices continued to remain choppy as the demand for the commodity is expected to taper off in a slow and steady manner in the coming days.…Read More Thisarticlewas originally posted on FX Empire • EUR/USD Monthly Forecast – March 2018 • Forex Trading Signals – March 02, 2018 • Bitcoin Cash, Litecoin and Ripple Daily Analysis – 02/03/18 • Comex High Grade Copper Price Futures (HG) Technical Analysis – Trigger Point for Upside Breakout is $3.1685 • EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – March 2, 2018 • DAX Index Daily Fundamental Forecast – March 2, 2018 || How to Steal $500 Million in Cryptocurrency: Early Friday morning in Tokyo, hackers broke into a cryptocurrency exchange called Coincheck Inc. and made off with nearly $500 million in digital tokens. It’s one of the biggest heists in history, with the exchange losing more than 500 million of the somewhat obscure NEM coins. The hack has raised questions about security of cryptocurrencies around the world. Coincheck hasn’t disclosed how their system was breached beyond saying that it wasn’t an inside job. The company did own up to a security lapse that allowed the thief to seize such a large sum: It kept customer assets in what’s known as a hot wallet, which is connected to external networks. Exchanges generally try to keep a majority of customer deposits in cold wallets, which aren’t connected to the outside world and thus are less vulnerable to hacks. Coincheck also lacked multi-signature security, a measure requiring multiple sign-offs before funds can be moved. That’s one of the stranger aspects of these heists. Because transactions for Bitcoin and the like are all public, it’s easy to see where the NEM coins are — even though they’re stolen. Coincheck has identified and published 11 addresses where all 523 million of the stolen coins ended up. You can see for yourself online. Trouble is, no one knows who owns the accounts. Each one has been labeled with a tag that reads “coincheck_stolen_funds_do_not_accept_trades : owner_of_this_account_is_hacker.” NEM developers created a tracking tool that would allow exchanges to automatically reject stolen funds. Not necessarily. The thief could attempt to shake off surveillance by going through a service like ShapeShift, which offers cryptocurrency trading without collecting personal data. Converting NEM coins into a more anonymized currency, like Monero, could conceivably launder them. ShapeShift, which publishes all trades on its platform, said they have already blocked addresses associated with the hack. There are also “tumbler” services, designed to obscure both identities and transactions, but the huge total amount of money stolen presents a challenge. They could change the NEM blockchain by rolling back the record to a point before the attack. The so-called hard fork would create two versions of NEM, one that has never been hacked and another containing the stolen funds. While this approach worked for Ethereum in 2015, NEM Foundation Vice President Jeff McDonald said a fork is not an option. Yes, there’s a long history of thefts at cryptocurrency exchanges and wallets, dating back to the infamous robbery of Tokyo-based Mt. Gox in 2014. As prices of digital assets have soared, the platforms have become increasingly juicy targets for hackers. North Korean leader Kim Jong Un has allegedly sent his hackers out to swipe digital coins as his country faces tightening trade sanctions. One researcher estimates that more than 14 percent of Bitcoin and rival currency Ether has been stolen. The lesson for crypto-enthusiasts is that exchanges are prime targets for hackers and no place to store your coins. One alternative is to keep the assets in software wallets, which come in online, mobile and desktop varieties. Hardware wallets are dedicated devices that offer an additional layer of security. For the extra paranoid, there is always the analog option: printing out the private keys for your coins on paper. || GH Capital (OTCQB: GHHC) is Launching with Bitcoin and Altcoins as Payment Options: MIAMI, FL / ACCESSWIRE / January 23, 2018/ GH Capital, Inc. (OTCQB:GHHC), a diversified FinTech holding company, today announced that its online payment service subsidiary, ClickDirectPay (clickdirectpay.com), has been actively exploring the concept of utilizing blockchain capabilities as part of its core offering, providing a financial platform that is universally accessible, regardless of country or currency. In mid-February 2018, ClickDirectPay plans to beta launch their new cryptocurrency payment service allowing merchants to start accepting up to four leading cryptocurrencies as a form of payment. There are already plans to onboard more coins in the near future, depending on the demand and shape of this landscape. The beta launch will look to focus on the following coins as payment options: Bitcoin, Bitcoin Cash, LiteCoin, and Ether. Mr. Bane Katic, Head of CDP Europe, commented, "This space is very dynamic and can get very technical. The aspect we need to focus on is the ability to solve a payment challenge with the lowest fees for both merchants and consumers. At the moment, Bitcoin transaction fee is hovering around $40 USD and looks like it may continue to go up. While this doesn't make it affordable for consumers transacting in smaller amounts, some merchants may wish to offer Bitcoin for larger ticketed items. Therefore, Bitcoin will be offered as a payment option but we are looking at launching with other coins which are low fees and fast, yet still uphold the qualities of what the blockchain has to offer." Offering multiple cryptocurrencies comes at a time of broader diversification in the cryptocurrency market. The number of different coins making up the cryptocurrency market has already crept past the 1300 mark and continues to grow. As such, CDP structured the move as one that keeps it in line with new developments in the blockchain market. Bane added, "As we look forward, we will be planning to bring on other cryptocurrencies which align with the low transaction fees for micro-payments. Our goal is always to assess and bring to market what makes sense for our merchants and customers." The growing niche market of accepting alternative payments means the next generation of online payment behavior has already started, especially in the high risk payment processing industry. With products and services being delivered to customers globally, payment methods have always been an obstacle in the process.Cryptocurrenciesallow anyone, anywhere to pay, creating new opportunities in markets which otherwise may have been restricted. ClickDirectPay will become a one-stop-shop solution for online merchants worldwide to accept cryptocurrencies in real time, hassle free. As more businesses operate online and service multiple countries around the world, the idea of integrating with multiple solutions and frameworks can be daunting. The goal of CDP has always been to create a seamless, easy and quick on-boarding of payment solutions for global online merchants no matter where they are located in the world, or what currencies they deal with. Cryptocurrencies will accelerate this process. About GH Capital GH Capital, Inc. (OTCQB:GHHC) is a FinTech holding company and offers a going public process advisory. The Company has developed an online payment option called "ClickDirectPay" to process online wire transfer transactions for diversified online merchants with a target market in Europe. For more information, please check out:http://www.ghcapital-inc.comandhttps://www.clickdirectpay.com. Forward-Looking Statements 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, as amended (the "Exchange Act") (which Sections were adopted as part of the Private Securities Litigation Reform Act of 1995). Statements preceded by, followed by or that otherwise include the words "believe," "anticipate," "estimate," "expect," "intend," "plan," "project," "prospects," "outlook," and similar words or expressions, or future or conditional verbs such as "will," "should," "would," "may," and "could," are generally forward-looking in nature and not historical facts. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements to be materially different from any anticipated results, performance or achievements. The Company disclaims any intention to and undertakes no obligation to revise any forward-looking statements, whether as a result of new information, a future event, or otherwise. For additional risks and uncertainties that could impact the Company's forward-looking statements, please see the Company's Form S-1 filed on June 2, 2016, including but not limited to the discussion under "Risk Factors" therein, which the Company has filed with the SEC and which may be viewed athttp://www.sec.gov. Contact Information Corporate:[email protected] Investors and Media:Hayden [email protected] SOURCE:GH Capital, Inc. || Why Cloudera's Shares Gained 13% in January: Shares ofCloudera, Inc.(NYSE: CLDR)were up 13.3% in January, according to data provided byS&P; Global Market Intelligence, as investors continued their optimism for the company after a strong fiscal third-quarter 2018earnings reportin December. Cloudera's shares have been on a wild ride since the company went public this past April, but investors started believing in this machine-learning and analytics software company when it announced its third-quarter results in December, and the sentiment carried through into January. Cloudera's subscription sales grew by 48% in the quarter, and total revenue was up 41%, both on a year-over-year basis. Investors were likely pleased to see subscription sales continue to spike, because 83% of the company's total sales currently come from its subscription revenue. Though the company's growing quickly, Cloudera still isn't profitable. Its GAAP loss in the third quarter was $56.6 million, and operating cash flow was negative $2.4 million. Image source: Getty Images. Aside from the strong sales growth in the third quarter, investors may have also been motivated to push up Cloudera's share price after news came out in January thatBlackRock, one of the world's largest mutual fund managers, more than doubled its stake in the company. BlackRock owned about 16 million shares of Cloudera at the end of the year, up from seven million previously,according to Barron's. Unfortunately for Cloudera investors, the good times haven't extended into February. The company's shares have fallen about 9% since the beginning of the month, further proving that this software analytics company is still highly volatile. Cloudera's management is estimating revenue to increase about 34.5% at the midpoint in the fourth quarter, and for subscription revenue to jump by 44.5%. That would be another strong quarter, to be sure, but investors should keep in mind that if the latest quarter didn't bring some share price stability to the company, then it's unlikely the next will either. 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 Chris Neigerhas 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. || Is Skechers Stock a Buy?: Since Skechers USA Inc. (NYSE: SKX) reported its 2017 third-quarter earnings last October, the stock has been on a tear. Like a coiled spring, the stock has appreciated more than 60% over the past year, with all of the gains coming since its blockbuster quarter five months ago, crushing the S&P 500 index in the interim. When the company reported its fourth-quarter numbers, the stock's fundamentals continued to show strength. Sales grew to $970.6 million, a 27% year-over-year increase, and adjusted earnings per share rose to $0.21, an incredible 425% year-over-year increase -- though it should be noted a variety of factors hit 2016's fourth-quarter earnings. Better yet, Skechers' much-maligned margins finally showed long-promised improvements: Gross margin increased 20 basis points to 46.8%, and operating margin increased an even better 200 basis points to 5.7%. Here's a look at the company's full-year growth rates: Skechers Metrics 2017 2016 Change Sales $4.16 billion $3.56 billion 16.9% Adjusted EPS $1.78 $1.57 13.4% Gross Margin 46.6% 45.9% 70 basis points Data source: Skechers USA Inc. Yet after such blazing-hot growth, is the stock about to cool off? I don't think so. In fact, if this stock weren't already one of my largest individual positions, I would consider buying more. Let's look at three reasons I'm still bullish on the company, even after its astronomical rise this past year. A woman browses the Skechers app with friend while sitting outside. Skechers domestic e-commerce operations grew an impressive 21.9% in 2017. Image source: Skechers USA Inc. An international shoe print There's no question that Skechers' strong run has been fueled by its robust international growth . Just look at these beautiful growth numbers: International wholesale increased 40%, global retail 26%, and international comparable-store sales 16.5%. International wholesale and retail combined accounted for more than 50% of total sales in 2017. That's right: Skechers now sells more shoes outside the U.S. than within. Story continues This growth isn't confined to any one particular country or region; it's coming from all over. For instance, management said the highest sales growth rate by percentages came from Spain and Italy, but by dollar amount, it came from China, South Korea, and the U.K. In Q4, 74 stores opened in China, giving it a total of 796 stores. Combined with wholesale, there are now almost 2,500 points of sale for the brand in China. One of the best indicators of Skechers' overseas success, however, is the perception of the brand. In the company's fourth-quarter conference call, as transcribed by S&P Global Market Intelligence , COO David Weinberg talked about how highly the brand is esteemed in some international markets: So I would tell you that the brand is perceived as quality. It's not considered as mid, but you can consider that an upper, although not the most expensive. So quality, designed well, fashion forward at a price, probably on average, slightly higher pricing than we see here in the United States. So if I had to take it, it's probably a couple levels up in most parts outside the United States, certainly not all, because there are some third world countries where they -- price is more significant than it is here in the United States. A digital shoe print Another aspect of Skechers' business that's getting harder to ignore is its e-commerce operations . While the company declined to answer how much its online sales represented in total sales, the growth rates were certainly impressive. Domestic e-commerce grew by 22% in 2017. In China, online sales grew by double digits, and Skechers now operates its own sites in Canada, Chile, Germany, Spain, and the U.K. Beyond its own sites, the company has a larger online presence with "third party" merchants in the United States. The company says it understands the importance of this aspect of the business and is putting its money where its mouth is, as it's planning to invest heavily in this area in the coming year. During the conference call, Weinberg said: [W]e show very well online, the brand is demanded online, it's searched online, and does sell whether it's directly through us, third parties around the world as we continue to grow our site. We are investing significant amount of money into our digital capacity, and we will be changing the site. And once we get the new site developed, which is in work now on [sic], we will bring it out and try to have our own presence around the world, every place we have subsidiaries." A cheap shoeprint Sure, Skechers has several catalysts fueling its growth, but what about its valuation ? With adjusted earnings per share of $1.78 in 2017, Skechers is valued at a P/E ratio of 23.25. Not terribly cheap. But using the 2018 analyst consensus of $2.30 in EPS, the company's forward P/E ratio drops considerably to 18. Of course, these numbers look even better once the company's cash on the balance sheet is taken into account. In Q4, Skechers reported $736.4 million in cash or cash equivalents on the balance sheet, a 2.5% year-over-year increase. That cash comes out to about $4.70 per share and represents about 12% of the company's market cap. If one were to subtract out the company's cash per share from the stock price, Skechers would currently be valued with a forward P/E ratio of 15.95. For a stock expected to grow sales in the double digits this year, that's cheap. Filling some big shoes Skechers is a company with a lot going for it. Its brand presence around the world is fueling strong growth in several foreign markets, from Asia to Europe. The company is heavily investing in its e-commerce operations so that it will soon have a direct online presence in all the countries where its shoes are currently sold. Yet despite this growth and a cash-rich balance sheet, the company still trades at a more than reasonable valuation. As the bull market enters its ninth year, investments like this one are big shoes to fill. 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 Cochrane owns shares of Skechers. The Motley Fool owns shares of and recommends Skechers. The Motley Fool has a disclosure policy . || Without Broadcom, Qualcomm Faces a Long Fall: Shares of Qualcomm (NASDAQ: QCOM) slid 5% on March 13, after President Trump blocked Broadcom 's (NASDAQ: AVGO) attempted takeover of the chipmaker on national security concerns. Prior to that decision, Broadcom arguably had Qualcomm on the ropes. But as Broadcom walks away, there are reasons to doubt Qualcomm can pick itself back up. The story thus far... Broadcom initially tried to buy Qualcomm for $70 per share last November. Qualcomm rejected the bid, and Broadcom raised its offer to $82 in early February. Broadcom also put six nominees up for election to Qualcomm's 11-member board, with the results to be announced during Qualcomm's shareholder meeting on March 6. A businessman watches a chart crash through the floor. Image source: Getty Images. Qualcomm then boosted its bid for NXP Semiconductors (NASDAQ: NXPI) from $110 to $127.50 per share to close the long-delayed deal and shore up its defenses against Broadcom. Broadcom responded by lowering its bid to $79 per share, claiming that the NXP bid reduced Qualcomm's value. The preliminary results of the board vote indicated that Broadcom would win all six seats. So in a desperate 11th-hour move, Qualcomm requested that the U.S. Committee on Foreign Investment (CFIUS) investigate the merger. CFIUS ordered Qualcomm to postpone its meeting to early April. Broadcom then accelerated its attempt to redomicile from Singapore to the United States, which would prevent CFIUS from blocking the deal. Before that happened, CFIUS recommended against the merger, and President Trump killed the deal with an executive order. Qualcomm may have escaped Broadcom's hostile takeover, but the stock could now be headed much lower since the only thing propping up its stock was the buyout buzz. Why Qualcomm is in big trouble Qualcomm was stuck in the low $50s before Broadcom's offer catapulted the stock to the high $60s. The chipmaker had fallen out of favor due to a seemingly endless series of probes, fines, and lawsuits across the world. Story continues A businessman pulls out a Jenga piece. Image source: Getty Images. Most of those actions targeted its high-margin licensing business, which generates the lion's share of its profits by leveraging its wireless patent portfolio to collect licensing fees. Many regulators and OEMs claimed that Qualcomm's cut -- up to 5% of the wholesale price of smartphone -- was too high. Some regulators also believe that Qualcomm's now-expired deal with Apple (NASDAQ: AAPL) , in which it paid the iPhone maker "rebates" for the exclusive right to make its modems, was anticompetitive. Qualcomm already agreed to pay fines in China and Taiwan, and it's currently disputing its fines in South Korea and Europe. Meanwhile, Apple is suing Qualcomm over its licensing fees and unpaid rebates and has halted all licensing payments to Qualcomm. That defiance encouraged another major original equipment manufacturer (OEM) -- widely believed to be Huawei -- to also suspend its payments. Apple is also reportedly designing new iPhones and iPads that would completely replace Qualcomm's baseband modems . That move would hurt Qualcomm's chipmaking business, which already faces tough competition from first-party chipsets from OEMs like Huawei and cheaper rivals like MediaTek . Qualcomm tried to solve these problems by buying NXP, the world's largest automotive chipmaker. That move would diversify its business away from mobile devices and deepen its patent portfolio. Unfortunately, the Broadcom saga forced Qualcomm to prematurely raise its bid for NXP -- which boosts the total value of the deal from $38 billion to $44 billion. Qualcomm's expectations vs. reality In late January, Qualcomm pledged to grow its fiscal 2019 sales by about 60% and more than double its earnings per share if its investors blocked Broadcom's bid. Qualcomm claimed it could achieve this by settling with Apple, implementing a $1 billion cost reduction plan, and closing the NXP deal. However, Qualcomm was fined by the EU, agreed to pay its fine in Taiwan, and raised its bid for NXP after it made that promise. Those factors could make it much tougher for Qualcomm to hit its lofty targets. There's also no guarantee that Apple will simply back down. Analysts expect Qualcomm's revenue and earnings (excluding the potential impact of NXP) to fall 4% and 21%, respectively, this year. For 2019, they anticipate 3% sales growth and 11% earnings growth. Wall Street expects NXP to generate $10.4 billion in revenue in 2019. When we add that to the $22.8 billion in revenue Qualcomm is expected to generate that year, we get a 50% boost -- not a 60% one. The valuations vs. reality At $60 per share, Qualcomm is valued at 18 times its estimated earnings for 2018, which is a high multiple for a company with declining earnings. By comparison, Intel -- which is actually expected to grow its earnings this year -- trades at 15 times forward earnings. At $50 per share, Qualcomm would trade at 15 times forward earnings, which is a more reasonable P/E ratio in light of all of its troubles. Unfortunately, this implies that the stock has a lot of room to fall before it can be considered a bargain. 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 Leo Sun has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Apple. The Motley Fool owns shares of Qualcomm and has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool recommends Broadcom Ltd, Intel, and NXP Semiconductors. The Motley Fool has a disclosure policy . || Visa and Worldpay Are Refunding Duplicate Coinbase Fees: In a joint statement issued Friday, and the payment processor Worldpay announced that they would reverse duplicate charges made against users of the Coinbase cryptocurrency exchange. Those charges triggered a storm of complaints this week, with some users claiming to have been charged thousands of dollars in additional fees to credit card or bank accounts. The statement,posted by Coinbase, describes the charges as "duplicates," and doesn’t detail the cause of the error, but does appear to absolve Coinbase of fault. Fortune'sprevious reportingfound that the mistaken charges were in part the result of Visa and banks retroactively reclassifying charges made by Coinbase usersas far back as January 22as cash advances, substantially increasing the fee charged. Get Data Sheet, Fortune's technology newsletter. Worse, the new charges seem to have posted before cancellation of the prior charges was complete, and some were inexplicably reposted to users’ bank accounts multiple times. One user reported seeing50 extra chargestotaling $67,000, leading them to close their bank account. The reclassification of Coinbase purchases by payment services followed the announcement earlier this month that most major banks wouldblock the use of credit cardsto buy cryptocurrencies like Bitcoin. According to the Friday statement from Visa and Worldpay, most of the reversals and refunds are already complete. See original article on Fortune.com More from Fortune.com • Can Machines Save Us From the the Machines? • Trader Is Charged With Stealing Millions Worth of Bitcoin to Cover His Own Losses • Bitcoin's Price Surges Above $10,000--But Investors Still Down $60 Billion in 2018 • Bitcoin 'Scam' Triggers Police Search Across Europe • U.S. Olympians Request Bitcoin to Fund Gold Medal Dreams || Meet the 2 Candidates Who Could Take Warren Buffett's Place: Over the past several years,Berkshire Hathaway's(NYSE: BRK-A)(NYSE: BRK-B)succession plan for when Warren Buffett can no longer run the company has become of greater interest to investors. We recently got some more concrete information about the succession plan when Berkshire managers Ajit Jain and Greg Abel both joined the company's board and were named vice chairmen, a move Buffett confirmed was part of the company's succession plan. So, who are these two men who could take Warren Buffett's place? Here's what we know about Berkshire's succession plan, and a brief introduction to the two Berkshire managers who could potentially run the$600 billion conglomeratein the future. Image Source: The Motley Fool. Warren Buffett is 87 years old, and his business partner and right-hand man, Charlie Munger, is 94. While we all hope Buffett and Munger live well into their 100s, the reality is that they won't be able and/or willing to run the company forever. So over the past few years, Berkshire's succession plan has become much more of a hot topic. The most extensive discussion of Buffett's thoughts on the matter can be found in his 2014 letter to Berkshire Hathaway shareholders. The letter represented 50 years at the helm for Buffett, and it shouldn't come as a surprise that much of the "next 50 years" discussion included Berkshire's post-Buffett future. The first part of the plan is that Buffett's son, Howard, will most likely succeed Buffett as a non-executive chairman. This is to create a system of checks and balances, as it is significantly easier to remove an underperforming or otherwise poorly matched CEO if that person is also the chairman. Going further into the discussion, Buffett discussed some qualities that Berkshire's next CEO should possess. Just to name a few of the key attributes: • The CEO must be a "rational, calm, and decisive individual who has a broad understanding of business and good insights into human behavior." • The CEO must "know his limits." • Berkshire's CEO must be "all in" for the company, not for himself. (Note: Buffett acknowledges that he uses male pronouns in these statements but says that gender will have no bearing on the CEO search.) • The CEO must be motivated by the company's success, not by money. • The CEO must be able to "fight off the ABCs of business decay, which are arrogance, bureaucracy, and complacency." • The CEO should come from internal candidates. Buffett wants the next CEO to already know the company well. • The CEO should be relatively young, and "not likely to retire at 65." Buffett defines this as someone who should last for more than 10 years at the helm. Ajit Jain is 66 years old and has been working with Berkshire for 31 years. He is Berkshire's newly appointed vice chairman of insurance operations. Until recently, Jain was president of Berkshire Hathaway Reinsurance Group and also led several of Berkshire's insurance companies. Buffett has spoken very highly of Jain throughout the years, and at one point he even told Berkshire's employees that they could "swap me for him." In his most recent annual letter, Buffett said: Ajit has created tens of billions of value for Berkshire shareholders. If there were ever to be another Ajit and you could swap me for him, don't hesitate. Make the trade! On another occasion, Buffett said that "If Munger, I, and Ajit are ever in a sinking boat and you can only save one of us, swim to Ajit." To put it mildly, Buffett feels that Jain has been, and will continue to be, a tremendous asset to Berkshire and its shareholders. Greg Abel is 55 years old, has been with Berkshire for 25 years, and has been in charge of Berkshire Hathaway Energy. Whereas Jain was named vice chairman of insurance operations, Abel is now vice chairman of non-insurance business operations. In other words, Jain is in charge of insurance, and Abel is in charge of all of the other subsidiaries. Buffett has also been eager to praise Abel over the years, calling him a "dealmaker" and speaking highly of his management skills. "I always make time for Greg when he calls, because he brings me great ideas and is truly innovative in his thinking and business approach," Buffett said in 2013. Buffett has run Berkshire Hathaway for more than 50 years and wants a successor who will be at the helm of Berkshire for a long time. In other words, he doesn't necessarily want a CEO who's going to retire in a few years. While there are probably several factors that Berkshire's board will take into account when the time comes to name a successor, the age and potential longevity of the next CEO will certainly be one of the main deciding factors. There has been widespread speculation that Jain would take the reins of Berkshire if it were necessary now. In his 2014 letter to shareholders, Buffett wrote, "Both the board and I believe we now have the right person to succeed me as CEO -- a successor ready to assume the job the day after I die or step down." Many believe Buffett was directly referring to Jain in this statement. However, Jain is 66 years old. If Buffett remains in charge for another five years, Jain would be in his 70s, and the board may be more likely to appoint Abel, who will just be turning 60. In a nutshell, since nobody knows if Buffett will continue to lead Berkshire for one more week or 10 more years, this move gives the board some flexibility. 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 Frankelowns shares of Berkshire Hathaway (B shares). The Motley Fool owns shares of and recommends Berkshire Hathaway (B shares). The Motley Fool has adisclosure policy. || Why Cboe Global Markets, Inc. Stock Is Sinking Today: What happened Shares of Cboe Global Markets, Inc. (NASDAQ: CBOE) are falling today, down by about 12% as of 11:30 a.m. EST. Investors are worried about how the failure of some products designed to short the VIX index will affect Cboe Global Market's VIX-related volume, revenue, and ultimately, its earnings. So what Cboe Global Markets provides the exchanges on which buyers and sellers of options, futures, and other derivatives meet. In recent years, its growth has been fueled by complex products, including VIX index futures and options, which allow traders to bet on whether markets will become more or less volatile. The VIX is often referred to as the " fear gauge ," since it measures implied volatility of S&P 500 stock prices based on how much investors are willing to pay for options to hedge their risks. Line chart of stock prices Image source: Getty Images. A research report by KBW published on Tuesday estimated that as much as 20% to 25% of Cboe Global Market's revenue was generated from products related to the VIX, according to Business Insider . Much of that volume and related revenue could dry up, however, as exchange-traded notes (ETNs) linked to the VIX index are shuttering their doors. For a long time, shorting the VIX was a profitable trade. In the five years leading up to market close yesterday, the VelocityShares Daily Inverse VIX Short-Term ETN (NASDAQ: XIV) generated a compounded annual return of 35.7%, easily outpacing the stock market average. Many investors hopped on for the ride, viewing this ETN and others like it as a way to make a highly leveraged bet that stock prices would go up and up, and with little volatility along the way. XIV Chart XIV data by YCharts . But as many people found out yesterday, there are no risk-free ways to make exceptionally high returns. The VelocityShares Daily Inverse VIX Short-Term ETN saw its net asset value plunge from more than $108 to $4.22 per share in a single day due to a spike in volatility. Its sponsor, Credit Suisse , says it will fold up the ETN, liquidate it, and make a cash payment to its owners, locking in losses for those who hold it. (The chart above doesn't fully reflect the decline in VelocityShares ETN's value, since trading is currently halted.) Story continues Now what Between the VelocityShares Daily Inverse VIX Short-Term ETN and ProShares Short VIX Short-Term Futures ETF (NYSEMKT: SVXY) , as much as $3 billion of investors' wealth could have simply evaporated in a single day of trading thanks to a massive, one-day surge in the VIX. Cboe Global Markets, which derives a portion of its revenue from volatility-related trading, will naturally see revenue from ETF and ETNs that short the VIX dry up, as investors turn away from the strategy in light of large losses. Importantly, many of the people who held ETNs and ETFs that short the VIX were retail investors who wouldn't otherwise speculate on the VIX if not for the fact that ETFs and ETNs made the strategy available to them. These retail speculators are unlikely to move from ETFs and ETNs to trade VIX futures or options directly. To be clear, this isn't a failure of Cboe. Markets simply went the wrong way for the people who held ETFs and ETNs that were short the VIX. That said, a decline in VIX-related volumes could be a short-term headwind for the exchange operator, as it has benefited indirectly from large bets against market volatility. 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 owns shares of ProShares Short VIX Short-Term Futures ETF. The Motley Fool recommends Cboe Global Markets. The Motley Fool has a disclosure policy . || What Is Spotify's Valuation Right Now?: Spotify is causing a stir in Silicon Valley and on Wall Street. The London-based music streaming service filed confidential IPO paperwork with the Securities and Exchange Commission at the end of December, sources told Axios on Jan. 3. While the company is said to be pursuing a direct listing on the NYSE in the first half of 2018, it has still enlisted the help of Goldman Sachs (NYSE: GS) , Morgan Stanley (NYSE: MS) , and Allen & Co. as advisors. A direct listing is different, and crucially, less expensive than a traditional IPO because it means the company can skip the typical IPO roadshow process. So if Spotify lists its shares in the next couple of months, what will its valuation be? Let's take a closer look. Spotify CEO Daniel Ek stands on stage at a press conference with a blue and green backdrop of people dancing Spotify CEO Daniel Ek (above) might be taking his company public in early 2018. Image source: Spotify. Spotify funding rounds Spotify started in Sweden in 2006 when founders Daniel Ek and Martin Lorentzon were brainstorming business ideas and realized it was difficult to get the music they wanted on Napster despite the company being six years old. The entrepreneurs got their first cash injection about two years later with a $21.5 million Series A funding round in 2008. Spotify then raised a Series B of $50 million in August 2009 at a $250 million valuation from three investors. The company then raised a Series C, D, E, F, and G, as well as a few lines of credit. Most recently, the company agreed to buy a stake in China's Tencent (NASDAQOTH: TCEHY) Music Entertainment, which runs three music streaming services. In a tit-for-tat deal, Tencent will also buy an equity stake in Spotify. In total, Spotify has raised $2.7 billion, according to Crunchbase Data, while CB Insights pegs the number a bit lower at $2.27 billion. Date Transaction name # of investors Money raised Lead investors June 30, 2017 Secondary market 1 N/A N/A July 28, 2016 Secondary market 3 N/A N/A March 30, 2016 Debt financing 2 $1,000,000,000 N/A Jan. 27, 2016 Convertible note N/A $500,000,000 N/A Jan. 21, 2016 Secondary market 1 N/A N/A Nov. 1, 2015 Secondary market 1 $150,000,000 N/A Aug. 30, 2015 Secondary market 2 N/A N/A June 10, 2015 Series G 16 $526,000,000 N/A Nov. 25, 2014 Secondary market 2 N/A N/A Jan. 1, 2014 Secondary market 1 N/A N/A Nov. 21, 2013 Series F 1 $250,000,000 TCV Nov. 15, 2012 Series E 6 $100,000,000 Goldman Sachs Jan. 1, 2012 Secondary market 1 N/A N/A June 17, 2011 Series D 5 $100,000,000 Accel Partners Feb. 1, 2010 Series C 1 $13,967,792 Founders Fund Aug. 4, 2009 Series B 3 $50,000,000 Horizons Ventures Oct. 1, 2008 Series A 5 $21,640,000 N/A Data source: Crunchbase . Story continues Spotify's current valuation After billions in funding, growing its user base to 140 million with 70 million paying subscribers, where does Spotify's valuation stand? After Spotify and Tencent agreed to exchange minority stakes in each other, sources told Reuters in December that its valuation is now at least $19 billion. That's a sharp rise from the $13 billion valuation Spotify reportedly had last May when it first reached out to banks about advising it on a possible IPO. Two heavy-weight competitors This is where things get interesting. Despite still being a private company, Spotify is the definite leader in the music streaming space. Spotify said it hit 70 million paid subscribers this month, while its biggest competitor, Apple (NASDAQ: AAPL) Music, told Billboard in September that it had less than half that amount, with just over 30 million subscribers . Potential Spotify investors may also be interested to know that Spotify is still growing at an impressive rate, adding about 2 million subscribers per month last year. Apple added about 1 million subscribers per month in 2017. Of course, Apple did buy Shazam in December and could use its music-discovery capabilities to provide some cool new services for its subscribers. In addition, Shazam claims its app connects more than 1 billion people worldwide, which provides a huge base of potential Apple Music subscribers . Spotify's second closest competitor, Amazon (NASDAQ: AMZN) Music, has only been around a little over a year. Last July, The Music Industry Blog, which tracks music app usage and spoke with industry experts, reported that the service had about 16 million paid subscribers. That growth rate should be putting pressure on Spotify to keep updating its offerings. Spotify needs to stay one step ahead of Amazon, which lately seems to be encroaching on every market it feels like. Of course, Apple and Amazon are both mature companies with multiple revenue streams. In fact, there's a debate about which of the two companies will hit a $1 trillion valuation first. Currently, Apple has an $898 billion market cap, while Amazon's is at $592 billion. And the rest... But what about the valuations of a more similar company, like Pandora (NYSE: P) or Tidal? Pandora's market cap sits at $1.29 billion, which isn't bad considering its stock has been on a pretty steady downward slope since 2014. In its latest earnings report, the company announced $379 million in revenue. The problem for Pandora is that while it reported an impressive 73.7 million active listeners, that's still a drop from the 77.9 million it had in the year-ago period. Even worse, it had only 5.19 million paid subscribers, a 29% increase from the same period last year, but still, nothing to brag about. The company has had trouble convincing users to pay for its services. Last March, Pandora launched its first on-demand streaming service, Pandora Premium, for $9.99 per month, the price that has somehow become the industry standard. This is on top of its $5 per month ad-free Pandora Premium subscription option that doesn't allow for replays, offline listening, or on-demand listening. Three-year-old Tidal, bought by rapper Jay-Z from Swedish parent company Aspiro for $56 million in 2015, was valued at $600 million in January 2017 when it sold a 33% stake to Sprint (NYSE: S) for $200 million. The last subscriber figure for Tidal comes from back in June 2016 when it claims it had 4.2 million subscribers. In December, Norwegian business newspaper Dagens Næringsliv claimed that Tidal had only enough money to last six more months. Tidal fought back against the claims, saying that its business had grown each year since its inception. Either way, it's not super encouraging that Tidal hasn't shared an updated subscriber figure. Spotify looking good ahead of IPO If this information tells you anything, it's that Spotify is in a good position ahead of its public offering. If it can keep current subscribers happy and keep adding about 2 million subscribers per month this year, then it might be worth investing in at its IPO. The one thing that may concern investors is that Amazon and Apple have the money and power to make sudden movements that encroach on Spotify's top position, such as when Apple scooped up Shazam last month. However, the company has been able to grow at a healthy rate all of 2017, despite its customers' having more and more options. And that's impressive. 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. Natalie Walters has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Amazon, Apple, Pandora Media, and Tencent Holdings. 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 . View comments [Random Sample of Social Media Buzz (last 60 days)] 1 BTC Price: Bitstamp 9184.90 USD Coinbase 9206.79 USD #btc #bitcoin 2018-02-04 00:30 pic.twitter.com/ajB0ydrl5E || The Dow is starting to look like the Btc chart! How much QE etc will they need to prop this back up? All that money flowing out of stocks will have to go somewhere..gold,silver & crypto could get a huge boost here.. pic.twitter.com/IdJxC4eA3e || Cryptocurrency news: Bitcoin price hits $9000 in week record high before crash continues http://ift.tt/29GDCpw  The online currency has had a torrid start to 2018 after it saw its price plunge from an all time high of nearly $20,000 in December 2017 to a low of less than $6,00… pic.twitter.com/qmcZ4Ody5a || $1,690.00 Original Brand NEW Bitmain Antminer D3 19.3 GH/s IN HAND SAME DAY SHIPPING #Bitcoin #Mining ... http://bit.ly/2EnMh2U pic.twitter.com/l1DgzTTs9k || Current price of Bitcoin is $10835.00. || How Today’s Stock Markets Crash Will Affect Cryptocurrency Markets #trx #tron #btc #bitcoin #cryptocoin #crypto #eth #etherum #ripple #xrp #altcoins || VinChain Launches ICO – Raises Over $1 Million in Less Than 24 Hours http://tribetica.com/index.php/2018/02/03/vinchain-launches-ico-raises-over-1-million-in-less-than-24-hours/ … #newsoftheweek #Bitcoin #blockchain #crypto #cryptocurrency #newspic.twitter.com/AdcrkJQDj0 || $BTCUSDT - BTC - https://fr.tradingview.com/chart/BTCUSDT/QHhEryz8/ … || Zaifメンテ突入記念スクショpic.twitter.com/YhdFDoNJUe || Major banking organization savages bitcoin as ‘a bubble, Ponzi scheme and an environmental disaster’ https://www.cnbc.com/2018/02/06/bitcoin-and-cryptocurrencies-are-ponzi-bubbles-says-bis.html …
Trend: up || Prices: 8300.86, 8338.35, 7916.88, 8223.68, 8630.65, 8913.47, 8929.28, 8728.47, 8879.62, 8668.12
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 2019-06-14] BTC Price: 8693.83, BTC RSI: 62.82 Gold Price: 1340.10, Gold RSI: 68.26 Oil Price: 52.51, Oil RSI: 34.20 [Random Sample of News (last 60 days)] Crypto summer in Berlin: This year’s UNCHAIN Convention arranges celebration days with high profile crypto pioneers again: This year, the conference, recognized as one of the last year’s top-10 blockchain events, boasts a lot of outdoors activities in Germany’s urban melting pot for entrepreneurs and those who love Berlin’s lifestyle. To make networking as pleasant as possible, the organisers took to live-communication formats such as fireside chat. The well-respected figures in the world of crypto – Riccardo “Fluffypony” Spagni, Monero’s lead maintainer, former child-actor, venture capitalis t and chairman of the Bitcoin Foundation Brock Pierce, crypto and fintech entrepreneur Marc P. Bernegger, Wall Street veteran, Bitcoin trader and analyst Tone Vays, pioneer blockchain investor Eddy Travia, and other speakers from 20+ countries will share insights on Bitcoin scaling, privacy issues, investing and blockchain real world & enterprise solutions. The Lightning Network’s privacy features the future of crypto wallets, fiat money into blockchain solutions and a number of other issues to be discussed. Inhaling the spirit of Berlin The convention venue is chosen in full accordance with the spirit of the city, where the average age of residents does not exceed the bar of 35. Säälchen , a creative cluster where nightclub owners put on the best parties in the city, is ideal for going to the conference, celebrating the spirit of this vital crypto industry and ending the evening by attending a party. While breaking, visitors can walk through the urban village made of rough brickwork and scrap wood instead of impersonal office architecture. Musicians and side entertainment, especially for lucky Experience Ticket Holders, are also part of the rich event program. Since the weather promises to be truly summer, guests can stroll, drink refreshing cocktails in bars (in collaboration with Satoshi Spirits , #buythesip), enjoy Berlin techno clubs and other entertainment offers, not to mention the UNCHAIN after-party which will be held in Culture Container located on the same ground. Story continues Although budget tickets are already sold out, participation options still remain on the official website . Buying an Experience Ticket, you get a Welcome Dinner and a Spree Riverboat Cruise with speakers and partners. Use the promo code LEV8MPUC to get a 20% discount on Standard & Experience Tickets. The post Crypto summer in Berlin: This year’s UNCHAIN Convention arranges celebration days with high profile crypto pioneers again appeared first on Coin Rivet . || Canadian Provinces Compete for Attention of Bitcoin Mining Businesses: In Canada, individual provinces are responsible for energy issues, and their interest in Bitcoin mining is growing as several provincial governments have alreadyofferedlow-cost energy incentives to attract mining operations to their provinces. Quebec, the largest Canadian province, wants in on the action and has overruled its energy provider Hydro-Québec’s request for a rate increase for Bitcoin businesses, in order to allow Bitcoin miners to have the same hydro rate as the largest industrial customers. Bitfarms, the only major Bitcoin mining company in Quebec, will continue to be billed at the LG industrial rate (for high-power customers) of around CAD $0.05 per kWh. Bitfarms founder and president Pierre-Luc Quimper toldBitcoin Magazine: “This decision helps to secure our long-term operations in Québec as we enter a new era of operational growth. We are excited to continue our collaboration with Hydro-Québec, municipal energy distributors and municipalities.” Quimper added, “With green hydroelectricity at a competitive price, innovative universities and this recent decision by the Energy Board that clearly supports the industry, Québec has all the ingredients to become a blockchain hub,” The Energy Board decision ordered Hydro-Québec to set aside an extra 300 megawatts for the crypto industry, on top of 368 megawatts already committed, and rolled back Hydro-Québec’s plan to make crypto businesses compete in an auction. As with some other parts of Canada, a cool climate and abundant hydroelectric power make Quebec a natural fit for Bitcoin mining. Bitfarms operates one of the largest vertically integrated mining operations in North America and has four computing centers located in different locations in Quebec: a head office in Brossard, a microelectronics laboratory in Saint-Jean-sur-Richelieu and an electrical contracting company in Bromont (Volta électrique), in addition to an expansion currently underway in Sherbrooke. The company told us they have built 36 megawatts of capacity, with another 125 megawatts in their pipeline, and have approximately 220 PH/s of installed hash power. The new Sherbrooke facility will add another 30 megawatts to their capacity. Wes Fulford, CEO of Bitfarms, told us: “The LG rate remains one of the most competitive in North America and will allow Bitfarms to continue its expansion in Québec, particularly Phase 1 and Phase 2 of our new modern computing centre within the municipality of Sherbrooke.” On theirwebsite, Bitfarms emphasizes the importance of green, sustainable energy use, saying, “We prioritize a sustainable approach just as much as a healthy bottom line.” Bitfarms president Pierre-Luc Quimper was an active participant in government energy hearings held in the summer and fall of 2018 and has been a leader in proposing green energy solutions, including load-shedding agreements during peak consumption periods. The company is also working on a project evaluation grid to determine hydro use and economic spin-offs. Jonathan Hamel, a Bitcoin technology consultant with theMontreal Economic Instituteand founder ofAcadémie Bitcoin, toldBitcoin Magazine: “The decision of the Quebec Energy Board is a major victory for Bitcoin miners in Quebec but also for Bitcoin in general. It’s a clear demonstration that Bitcoin-related businesses are operating within the scope of the law of the land.” He pointed out that, initially, Hydro-Québec was in favor of accommodating the demand of large-scale mining operations, but they reversed course when the situation got political. “The former provincial government (defeated in October 2018) imposed a decree forcing the Bitcoin mining industry to accept a 300% rate increase and a potential price auction for future energy block allocation. This ruling is promising because it legitimizes the Bitcoin mining industry on a national scale.” Reacting to the Hydro Quebec announcement, Francis Pouliot, a Quebec native and Bitcoin entrepreneur, expressed his disappointment with the previous government: This article originally appeared onBitcoin Magazine. || Another Treasury Department Exit Creates Uncertainty For Investors: A high-ranking Treasury Department official is returning to the financial sector, and his departure may have a larger-than-expected impact on investors. Housing Finance Reform On Thursday, theWall Street Journalreported that Craig Phillips, a top deputy to Treasury Secretary Steven Mnuchin, is leaving the federal agency. Phillips was formerly a top executive atBlackRock, Inc.(NYSE:BLK), and was known within the Trump administration as being a liaison between the Treasury and Wall Street. Phillips was reportedly deeply involved with the administration's push for housing finance reform, a hot-button issue for shareholders ofFederal National Mortgage Association(OTC:FNMA) andFederal Home Loan Mortgage Corp(OTC:FMCC). Treasury is working on a comprehensive plan tooverhaul Fannie Mae and Freddie Mac; investors were hoping to get the details of the new plan as soon as next month, but Phillips’ departure once again leaves Fannie and Freddie investors in the dark. Cryptocurrency Phillips’ exit may be good news for cryptocurrency investors. Phillips has been outspoken about the need for further regulation of cryptocurrencies and other non-bank financial technology companies. “Tokens are linked to blockchain technology, an important innovation. In the last year, however, they have also been associated with speculative valuation activities, possible market manipulation activities and potentially a significant amount of illicit activities that escape traditional anti-money laundering and anti-terrorist controls globally,” Phillips toldThe Clearing Houselast year. After concerns over increased regulatory oversight drove a cryptocurrency market crash in 2018, many top currencies have rebounded in 2019. TheGrayscale Bitcoin Trust (Btc)(OTC:GBTC) is up 150.7 percent year-to-date. Any investors with exposure to Treasury initiatives should be prepared for potential delays in the process. Phillips is just the latest official to leave the department this year. Former undersecretary for international affairs David Malpass, assistant secretary for international markets Heath Tarbert, chief of staff Eli Miller and assistant secretary for public affairs Tony Sayegh have all either left or announced plans to leave the Treasury in the first two quarters of 2019. Related Links: Here's What Happened Last Time Bitcoin Approached ,000 Analyst Starts Coverage Of Fannie Mae, Views Common And Preferred Shares As A Call Option Photo by AgnosticPreachersKid/Wikimedia. See more from Benzinga • Here's What Happened Last Time Bitcoin Approached ,000 • Bitcoin And Ethereum Now Accepted At Whole Foods, Nordstrom And Other Retailers • Is Bitcoin Back? A Few Technical Signals To Consider © 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || How to buy Litecoin in Germany: There are a multitude of different ways to buy Litecoin in Germany, from well-known exchanges to peer-to-peer platforms like LocalBitcoins. In this article, we will go through all the different ways you can buy, sell, and trade the popular cryptocurrency Litecoin. Why buy Litecoin? Litecoin is an extremely popular cryptocurrency and is currently one of the top 5 cryptocurrencies by market capitalisation on CoinMarketCap . Created by Charlie Lee, former Google employee and later CTO of Coinbase, Litecoin was one of the first altcoin projects to show huge real-world potential. Similar to Bitcoin, Litecoin is a digital currency that facilitates global transactions online. Litecoin allows users to send money digitally through the use of blockchain technology, without the need for intermediaries. It can also be used to pay for certain things such as travel and property. Litecoin is one of the most popular digital assets as it offers cheaper and faster transactions than Bitcoin, making it useful for everyday purposes. It can also be integrated into businesses using payment systems such as Revolut, Wirex, or Coinbase. Where to buy Litecoin in Germany LocalBitcoins LocalBitcoins is a peer-to-peer exchange that connects cryptocurrency buyers and sellers within a certain geographical location. While the name only includes Bitcoin, Litecoin and other cryptocurrencies are also available to buy, sell, and trade on the site. Founded in 2012, the Finland-based exchange is one of the longest-running exchanges available. It facilitates payments through PayPal, bank transfers, and other online payment processors. The P2P exchange used to allow for cash payments, but as of June 2019, it has removed all cash trades. The change is suspected to be due to the security breaches it has suffered in the past. Börse Stuttgart Germany’s second-largest exchange Börse Stuttgart now lists Litecoin. The exchange prides itself on being able to offer longer trading hours, narrower spreads, active stop-loss support, and swift trade execution. The exchange offers support from the early hours of the morning till late at night to ensure all traders and buyers can leverage the latest market developments. The exchange also provides users with real-time data on all securities along with key news about Litecoin and other cryptocurrencies. Having this available allows users to know the best times to buy, sell, and trade. Story continues Binance Residents in Germany are also able to use Binance to purchase Litecoin. Established in 2017, the Hong Kong-based exchange is geared towards crypto-to-crypto trading. Binance caters to retail investors as well as professional traders with a range of around 400 cryptocurrency pairs. It is an industry leader in terms of trading volume and user count and is known as one of the most diverse exchanges on the market. Binance also offers discounts for those who trade whilst holding their native token, BNB. Kraken Another exchange that offers Litecoin in Germany is Kraken. Kraken is amongst the oldest cryptocurrency exchanges available and still remains one of the most popular. Kraken was founded in 2011 and is based in San Francisco. It is available for users in the US, Canada, Japan, and parts of Europe, including Germany. The exchange is great for beginners and experienced traders alike. It offers a basic user interface alongside detailed documentation on how to use the platform. Kraken also boasts a high level of trading volume which enables more profitable trading for daily traders. Conclusion Germany is a country that encourages cryptocurrencies through laws and tax exemptions. Litecoin is available to buy easily and safely in Germany on a number of exchanges using a variety of payment methods. For guides on cryptocurrencies , exchanges , and blockchain technology , click here . Make sure you take a look at all the latest crypto and blockchain news . The post How to buy Litecoin in Germany appeared first on Coin Rivet . || Tron’s Justin Sun Wins eBay Charity Auction in $4.57M Bid to Lunch With Warren Buffett: Tron (TRX) founder and CEO Justin Sun has won aneBaycharity auction to have lunch with renowned investor and Berkshire Hathaway CEOWarren Buffett. The news was revealed in a press release shared with Cointelegraph on June 3. Sun reportedly bid a record-breaking $4,567,888 to win the charity auction, which has been held by Warren Buffett for the past 20 years. Bloombergreportsthat the winner, who had previously been unnamed, will be able to bring seven friends along for lunch with Buffett at a steakhouse in New York. All proceeds from the auction benefit the San Francisco-based non-profit GLIDE Foundation. As the press release notes, GLIDE focuses on fighting injustice and inequality on behalf of economically deprived and oppressed communities in need, including the homeless, those from ethnic minorities or of LGBTQ orientation. Buffett’s wife is reported to have been a GLIDE volunteer before her passing in 2004, since which the investor has upheld his own commitment to the foundation, reportedly raising over $30 million to date in auction proceeds. In a statement, Sun emphasized the importance of contributing to a foundation whose work provides holistic programs for the local community, noting that: “BitTorrent and TRON’s US headquarters are in San Francisco, and bidding on this charity auction was a key priority for our team. I’m proud to have my bid donated to GLIDE, a foundation that provides critical support for our local homeless community.” According to the press release, the auction was hosted in cooperation with the “eBay for Charity” initiative, which enables members of eBay’s online community to support their chosen charities both donate platform-derived proceeds and additional contributions to various causes. The initiative has reportedly raised almost $912 million for nonprofits via the e-commerce community to date. In her own statement, Karen Hanrahan, CEO and president of GLIDE, underscored that 100% of Sun’s contribution would be used “to help people overcome barriers such as homelessness, addiction, hunger and social isolation and reach their full potential.” As reported, Sun also recentlyofferedto personally deposit 7,000 BTC to compensate the loss incurred by the majorhackof topcrypto exchangeBinance last month. The offer — alongside other similar offers from industry members such as Coinbase and QKC — was gratefullyacknowledgedbut declined by Binance CEOChangpeng Zhao. For some in the crypto community, Sun’s charity lunch with Warren Buffett will recall the investor’s much-publicized negative view of decentralized cryptocurrencies. While Buffett is well-known for this scathing stance — memorablycharacterizingbitcoin as "probably rat poison squared.” He has, however, recently made morepositive commentsin regard toblockchain. • Tron Announces BitTorrent-Based IPFS Variant Decentralized File System Protocol • Marshall Islands Form Dedicated Fund to Support Implementation of Its National Crypto • Blockchain-Based Alternative Investment Firm to Be Listed on Bloomberg Terminal • Top South Korean Utility to Co-Develop Blockchain System for Renewable Energy Certificates || Bitcoin Hits All-Time High Versus Argentine Peso Amid Presidential Election Risks: The biggestcryptocurrency, bitcoin (BTC), has hit an all-time high versus theArgentinepeso amid theongoing declineof the currency, Financial Times (FT)reportson May 27. According to the report, the bitcoin price has soared to as high as 394,000 pesos ($8,762.95 at press time) per coin, exceeding prices versus the Argentine peso not seen since the bubble in late 2017. Bitcoin price against Argentine peso since 2017. Source:BitcoinAverage The new all-time high of bitcoin versus the peso takes place amid a cryptobull marketthis year, along with the ongoing depreciation of the Argentine peso against the U.S. dollar. According toCNBCcharts, the U.S. dollar has seen a massive growth over the peso during the past year. The new lows in the value of Argentina's currency arereportedlycaused byuncertaintiesin the upcomingpresidential election. U.S. dollar price against Argentine peso. Source:CNBC Despite the recentattemptto support the Argentinian economy by the International Monetary Fund (IMF), with the country’s centralbankhaving allowed to use IMF funds to intervene in the peso, some analysts are reportedly concerned that the program could fail if the populist opposition wins the presidential election in October, asFTreported. While investors support the current President Mauricio Macri, the opposition — in which former leftist president Cristina Fernández de Kirchner is running as a deputy to presidential candidate Alberto Fernández — has reportedly introduced a “democracy discount” to the peso. Major global asset manager Amundi reportedly said that asset prices have reacted “very negatively” over the past month to the growing chance of Kirchner returning to power. As FT noted, the peso dropped to new lows against the dollar in April, following a loss of more than half of its value last year, when both the peso and Turkish lira dropped amid investor expectations of rising U.S. rates. Earlier in March, venture capital billionaireTim Draperadvisedthe president of Argentina to legalize bitcoin in order to improve the economic situation in the country. • Bitwise White Paper: Fake Trading Volumes by Exchanges Do Not Impact BTC Prices • Kenetic Co-Founder: Bitcoin to Trade at $30,000 by Late 2019, Regardless of Bitcoin ETF • NYMEX Trader: Bitcoin Soon to Move Back to $7,000, Markets to Consolidate • Upcoming Supply Cut Will See Bitcoin Prices Rise Further, Brian Kelly Predicts || 'You don't necessarily need the bitcoin ETF anymore' says CoinList cofounder: The SEC on Monday delayed its ruling on a proposed bitcoin ETF (exchange-traded fund) from the investment firm VanEck. It is the third time a decision on the VanEck SolidX Bitcoin Trust has been delayed: VanEck first proposed the investment product in 2018, then withdrew it in January of this year amid the government shutdown; in March the SEC delayed its decision, and on Monday it again delayed its decision. The agency has similarly delayed its decision on a bitcoin ETF from Bitwise Asset Management. The approval of a bitcoin ETF is seen by some as crucial for bringing institutional credibility to bitcoin investing. “You don’t necessarily need” the bitcoin ETF But Andy Bromberg, cofounder of CoinList, which vets and lists cryptocurrency token sales or ICOs (initial coin offerings), says the bitcoin ETF is no longer crucial to bitcoin’s growth anyway. “I’m not sure the bitcoin ETF matters as much anymore,” Bromberg told Yahoo Finance on Monday before the SEC had announced its postponement. (He also correctly predicted, as many in the crypto community did, that the SEC would either reject the ETF or delay its decision.) “We’re increasingly seeing that retail brokerages are going to offer bitcoin to their clients. Once you see that, once you see this widespread adoption, you don’t necessarily need the ETF anymore.” A exchange for cryptocurrencies is seen in Bydgozcz, Poland on March 8, 2019. (Photo by Jaap Arriens/NurPhoto via Getty Images) Despite Bromberg’s view, there are those who see the continued delay as a sign that government powers like the SEC still view bitcoin and other cryptocurrencies in an unfriendly light. Bitcoin’s recent price hike And despite ongoing anxiety around the bitcoin ETF approval, the price of bitcoin is up 48% in the past 30 days, buoyed by news about institutions like JPMorgan and Fidelity appearing to embrace crypto trading. Bromberg puts it simply: “When there’s an excitement about the space, when things are happening, the price tends to go up. And it tends to go down when there’s a lull in the space.” Over the past month, there has been a flood of news about crypto, more of it positive than negative. Story continues The SEC’s new deadline for a decision on the VanEck bitcoin ETF is Aug. 19. It can delay its decision one more time, until October. — Daniel Roberts covers bitcoin and blockchain at Yahoo Finance. Follow him on Twitter at @ readDanwrite . Read more: JPMorgan blockchain chief: Why we launched our own cryptocurrency CoinList cofounder: Crypto will be 'quiet' in 2019 Crypto pioneer Jed McCaleb: 'Most financial institutions are not going to use bitcoin' Exclusive: SEC quietly widens its crackdown on ICOs What crypto investment firms are telling clients during a bear market Exclusive: Coinbase cuts staff || Crude Oil Price Update – Strong Downside Bias Could Drive WTI into $62.03: U.S. West Texas Intermediate crude oil futures are trading lower early Wednesday after weekly industry data showed an unexpected build in U.S. crude inventories and as Saudi Arabia pledged to keep markets balanced, According to the American Petroleum Institute (API), U.S. crude stockpiles rose by 2.4 million barrels during the week-ending May 17, to 480.2 million barrels. Traders were looking for a decrease of 599,000 barrels.  At 14:30 GMT, investors will get the opportunity to react to the official data from the U.S. Energy Information Administration’s (EIA) weekly inventories report. It is expected to show a 1.2 million barrel draw. At 03:57 GMT,July WTI crude oilfutures are trading $62.63, down $0.50 or -0.79%. The main trend is down according to the daily swing chart. However, momentum has been trending higher since the closing price reversal bottom at $60.10 on May 6. A trade through $63.96 will change the main trend to up. A move through $60.10 will signal a resumption of the downtrend. The main range is $66.44 to $60.10. Its retracement zone at $63.27 to $64.02 is resistance. This zone stopped the rally on Monday at $63.96. The short-term range is $60.10 to $63.96. Its retracement zone at $62.03 to $61.57 is the next downside target. Counter-trend buyers could come in on a test of this zone. They may try to form a secondary higher bottom. The market is also trading inside a major 50% to 61.8% zone at $59.70 to $63.36. This zone is controlling the longer-term direction of WTI crude oil prices. Additional support is being provided by the 200-day Moving Average at $60.70. The early bias is to the downside because of the bearish API report. If the EIA report is also bearish then the selling could extend into the 50% level at $62.03. If this fails then look for the selling to possibly extend into the Fibonacci level at $61.57. Counter-trend buyers could come in on a test of these levels. If the EIA report is bullish then look for an intraday short-covering rally. If this creates enough upside momentum then look for the buying to possibly extend into the short-term 50% level at $63.27 and the major Fibonacci level at $63.36. The latter is a potential trigger point for an acceleration into $63.96 to $64.02. Thisarticlewas originally posted on FX Empire • Gold feels the Dollar pressure • Crude Oil Price Update – Strong Downside Bias Could Drive WTI into $62.03 • GBP/JPY Multiple MTF Confluence Captured the Trend Perfectly • The Crypto Daily – The Movers and Shakers 22/05/19 • Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 22/05/19 • E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – Trying to Establish Support at 7422.50 to 7314.75 || The Ledger: Stripe's Post-GDPR Plan, Facebook's Crypto, Berkshire Hathaway's Bitcoin Dis: A year ago, the European Union adopted theGeneral Data Protection Regulation, or GDPR, a piece of legislation designed to force companies to protect people’s data. In just a few months, another data-related EU law is coming into effect: the second “payment services directive“, or PSD2. The new law, which becomes mandatory on September 14, takes aim at financial firms. The goal: Boost competition and innovation within the industry by making banking and payments safer and more open through stronger security and data portability provisions. Claire Hughes Johnson, chief operating officer of Stripe, thehighest privately valuedfintech startup in the U.S., dropped byFortune’sBalancing The Ledgerstudio to discuss her company’s approach to compliance. She said the infrastructural challenges presented by the rules are “pretty rough.” One aspect of the new law requires that banks support “strong customer authentication“; in other words, these companies must reject payments that fail to verify the identity of the purchaser, in real time, through multiple steps. Financial firms have been ordered to use a combination of passwords or PINs along with a second factor, which could involve a text message sent to a phone number, a hardware security token, or biometrics, like a fingerprint or face scan. (There are some exemptions.) “For people who study consumer behavior and shopping carts it’s really scary because it does create a lot of friction,” Johnson said. “Our mission is to take away that complexity and cover all the compliance and the infrastructure you need for payment acceptance and paying out.” In April 2018, Stripe for an undisclosed sumacquired Touchtech Payments, a Dublin-based fintech startup that builds authentication technologies for banks, specifically to address the regulatory challenge. At the time, John Collison, Stripe’s cofounder and president,toldTechCrunchthat the regulation “is a huge deal” and that “people are sleepwalking into it.” If history teaches us, somnambulism will abound. Three months after GDPR went into effect, oneoft-cited studyfound that out of 103 GDPR-applicable businesses, about 70% failed to comply with one of the law’s basic mandates: supplying personal data within a month to a consumer who requests a copy. That sluggish response certainly does not bode well for companies facing down the new rules’ deadline. To quote Billie Joe Armstrong, frontman of the punk rock outfit Green Day:Wake me up when September ends. *** We’ve released a preliminary agenda forFortune’sinauguralBrainstorm Financeconference in Montauk June 19-20—you can check out the programhere. Conference attendance is by invitation only, but you can request an invite by emailing me directly. GOT TIPS? Send feedback and tips to [email protected], find us on Twitter@FortuneLedgeror email/DM me directly at the contact info below. Please tell your friendsto subscribe. Robert [email protected]@fortune.com 1. THE LEDGER’S LATESTWhy Slack’s Upcoming ‘Direct Listing’ May Work for Investorsby Lucinda ShenHow a New Crytpocurrency Token Could Help Bitfinex Leave Scandal Behindby Olga KharifWill Gold Investors Buy Bitcoin? A ‘Drop Gold’ TV Campaign Bets They Willby Jeff John Roberts‘Debt Ceiling’ May Become a Political Buzzword This Summerby Erik ShermanInvestors Braced For An Earnings Recession. It Doesn’t Look Like It’s Happeningby Rey MashayekhiThe Uncomfortable Truth About Going Public With a Money-Losing Businessby Polina Marinova 2. DECENTRALIZED NEWSTo the Moon…More details aboutFacebook’s crypto plan. Fidelity to offer Bitcoin tradingwithin weeks. Amazon offersblockchain service. Ant Financialloves blockchain. London Stock Exchange’s CEO sees afuture for distributed ledger technology. Softbank backsMexican fintech startup. Fintech startupsCheckout.comandDivvy raise $200+ million. HSBC’squarterly profits jump. Goldman Sachs’ tech fund iscrushing it. Blockchain forwireless spectrums?…Rekt.Florida business owner says he lost a lot of moneyusing payments service Zelle. Deutsche Bank isfailing to turn around. U.S. Bank fires allegedcall center whistleblower. U.S. judge demands North Korean documentsfrom Chinese banks. Coinbase’s tech chiefis out. “Blockchain hype missed the mark, andnot by a little.” Fintech giant Fiserv sued overalleged security lapses. China isno longer Asia’s top fintech funder. 3. BALANCING THE LEDGERClick to watch ☝️Claire Hughes Johnson, chief operating officer ofStripe, the highest privately valued fintech startup based in the U.S., dropped byFortune’sBalancing The Ledgershow to discuss the next phase ofEU data regulations, the difficulty of connecting global payment pipes, and the trouble withBitcoin. 4. BUBBLE-O-METER$2,300That’s the amount asset managers and other financial services spend oncybersecurityper full-time employee per year, according to areportpublished this week byDeloitteand theFinancial Services Information Sharing and Analysis Center, or FS-ISAC, a cybersecurity-related trade group. In total, this amounts to roughly 10% of these companies’ annual IT budgets, or between 0.2% to 0.9% of their annual revenues. 5. MEMES AND MUMBLES“I wondered what [Bitcoin investors] have been doing in their happy hour, and I finally figured it out. They celebrate the life and work of Judas Iscariot.”Charlie Munger, the legendary, billionaire investor, vice chairman of Berkshire Hathaway, and Warren Buffett BFF,cracked this jokeat cryptocurrency bulls’ expense at the company’sannual shareholder meetingon Saturday. He haspreviously comparedBitcoin speculation to “trading turds.”We hope you enjoyed this edition of The Ledger.Find past editions here, andsign up for other Fortune newsletters here. Question, suggestion, or feedback?Drop us a line. || Retail ETF ‘XRT’ Could Be on Red Tag Sale Status: This article was originally published onETFTrends.com. With the first quarter of 2019 behind us, it’s easy to forget the retail sector since the holidays are a distant memory, but last month's rally in the sector is a reminder to investors that they should consider adding retail-focused ETFs to their portfolios. While strength in the retail sector piggybacks off of strong consumer spending, there has been a lot of movement within the sector that could make for some interesting ETF plays likeSPDR S&P Retail ETF (XRT). The U.S.-China trade wars have hit retail ETFs as of late, however, with XRT falling 7 percent in May. Last month, XRT was one of the most-shorted ETFs and its recent downturn is no doubt attracting more bears to the fund. “Big box retailers are getting unloved in a big way and we’re going to continue to see more of this, especially if this market gets higher, the question is ‘Can these companies continue to bring profitability?'” said ETF Trends CEO Tom Lydon. For investors looking to get into XRT on the cheap, now might be an opportune time to do so as the tariff-for-tariff battle between China and the U.S. are putting many of the fund's holdings in a bind. With their revenues affected by the higher tariffs, bearish plays could also be abound, but for the more optimistic, buying on the dip is also an alternative. XRT seeks to provide investment results that correspond generally to the total return performance of an index derived from the retail segment of a U.S. total market composite index. The index represents the retail segment of the S&P Total Market Index. Thus far, the fund is up 11.78 percent year-to-date, which lags behind the S&P 500's 13 percent. It's still a stark contrast compared to the loss of 8 percent it experienced in 2018. Key features of the fund: • Seeks to provide exposure the retail segment of the S&P TMI, which comprises the following sub-industries: Apparel Retail, Automotive Retail, Computer & Electronic Retail, Department Stores, Drug Retail, Food Retailers, General Merchandise Stores, Hypermarkets & Super Centers, Internet & Direct Marketing Retail, and Specialty Stores • Seeks to track a modified equal weighted index which provides the potential for unconcentrated industry exposure across large, mid and small cap stocks • Allows investors to take strategic or tactical positions at a more targeted level than traditional sector based investing The retail space will certainly present a challenge for brick-and-mortar companies as Amazon leads the "bricks to clicks" movement towards the online retail marketplace. Last month, ETFs with the heaviest weighting of Amazon moved higher after the online retail giant topped earnings expectations. Amazon’s earnings results: • EPS: $7.09 versus $4.72, according to analysts surveyed by Refinitiv • Revenue: $59.7 billion versus $59.7 billion, according to Refinitiv • AWS: $7.7 billion versus $7.7 billion, according to analysts surveyed by FactSet Aside from XRT, investors can also consider the following ETFs: 1. Fidelity MSCI Consumer Discretionary Index ETF (FDIS): seeks to provide investment returns that correspond generally to the performance of the MSCI USA IMI Consumer Discretionary Index. The index represents the performance of the consumer discretionary sector in the U.S. equity market. 2. Consumer Discret Sel Sect SPDR ETF (XLY) : seeks investment results that correspond to the price and yield performance of publicly traded equity securities of companies in the Consumer Discretionary Select Sector Index. The index includes securities of companies from the following industries: retail; hotels, restaurants and leisure; textiles, apparel and luxury goods; household durables; automobiles; auto components; distributors; leisure products; and diversified consumer services. 3. ProShares Online Retail ETF (ONLN) : seeks investment results, before fees and expenses, that track the performance of the ProShares Online Retail Index. The index tracks retailers that principally sell online or through other non-store channels. The index uses a modified market-capitalization weighted approach, is rebalanced monthly and is reconstituted annually. Retailers may include U.S. and non-U.S. companies. To be eligible, retailers must: be classified as an online retailer, an e-commerce retailer, or an internet or direct marketing retailer, according to standard industry classification systems; have a market capitalization of at least $500 million; have a six-month daily average value traded of at least $1 million; and meet other requirements. For more ETF news and strategy, visit ourEquity 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 • Marijuana ETF YOLO Looks Toward A Budding Future • 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 READ MORE AT ETFTRENDS.COM > [Random Sample of Social Media Buzz (last 60 days)] Buy/Sell Bitcoin volatility with up to 100x Leverage at PrimeXBT! 🎉🤑 Sign up here and turn your $150 into $5000: ✅ https://t.co/bULiq1OP13 || It's 2020 and Facebook has officially released 'Gobal Coin'. The general public now have no option but to acknowledge the validity of crypto currencies. The first thing they do is buy Bitcoin. Price rises, they tell their friends, more get bought. Cue the next parabolic $BTC run || And my goal is to build apps that will require users to never interact with crypto currency at all if they don't want to || @MericanHodl I wish I had 1 btc :( || @theflynews @DarFarness Everyone see that BTC is beginning to wake up . Good traders use this premium group with market analytics . And it is free for one week ! Look --&gt; https://t.co/DJN7NUqXGG ⭕ 1854737123 || #TRON $TRX: ➡️ Price (USD) $0.0333856542 ➡️ Price (BTC) 0.00000387 Exchange on Binance with 50% discount trading fee 💸 😊 ➡️ https://t.co/Nvn3jbicFi Receive $10 on Coinbase ➡️ https://t.co/wFsLHGCeym $WAVES $LTC $GRS $BTC $XVG $BCH $MCO $ETH $OK $OMG $BTCD || #HourlyCryptoStatus (#1 to #3): #1 #btc (#bitcoin): 7,960 USD | 3.87% 24h #2 #eth (#ethereum): 245.7 USD | 5.07% 24h #3 #xrp (#ripple): 0.4 USD | 2.26% 24h || ビットコイン（BTC）は上昇、年初来最高値を更新 https://t.co/BEsBKDTvHX || #ooobtc #obx #crypto #bitcoin #ethereum #toqqn || Doggo told you btc droppo soono.. Now waito.. https://t.co/IDdvM3UC8M
Trend: up || Prices: 8838.38, 8994.49, 9320.35, 9081.76, 9273.52, 9527.16, 10144.56, 10701.69, 10855.37, 11011.10
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 Isn’t Private – But Its Recent Taproot Upgrade Will Help: Bitcoin is somewhat private – at least for userswho know what they're doing. But most people don't. The network's transaction data is fully public for anyone to view. Most people using Bitcoin might not realize that, because of the unique way Bitcoin works, their financial history is being recorded indelibly in a ledger that anyone in the world can pull up on their computer with ease. If Bitcoin users aren't careful, their transaction history could potentially be exposed to the world. Not to mention, analytics companies likeChainalysisare dedicated to unearthing detailed information about wherebitcoinis being sent and who owns which transactions. Behind the scenes, developers are crafting privacy updates in the hopes that users of Bitcoin can use the currency privately – without the extra thought or effort. This article is part of CoinDesk'sPrivacy Weekseries. The wide-reaching upgrade Taproot, which activated inNovember, brings avariety of improvementsto the table. One important piece is boosting privacy. Taproot doesn't fully solve Bitcoin's privacy issues. But as we'll see, it does pave the way for some substantial improvements. Read More:Why Bitcoin’s Taproot Upgrade Matters In Bitcoin now, most transactions are simple: Just send bitcoin from one person’s wallet address to another. But there are also more complex transactions with more complex rules, such as multisignature transactions, which require two or more people to sign off on a transaction in order for it to go through. Then there's theLightning Network, a way to send faster and more scalable payments on Bitcoin, which is needed because Bitcoin's on-chain capacity is limited. Opening and closing a Lightning channel creates a unique-looking transaction on the Bitcoin blockchain. At present, each of these complex types of transactions looks a little bit different from "normal" transactions. InBitcoin's completely public ledger, there are little technical details built into each transaction that make it possible to tell if someone made a multisignature transaction or a Lightning transaction. That's where Taproot comes in. The privacy upgrade makes it possible to make more complex transactions exactly like normal transactions. All of these different transactions will look exactly the same. "By obfuscating the true nature of the transaction, it makes it possible for thosesmart contracttransactions to hide amongst the 'regular' ones," as Bitcoin mining company Braiinsputs it. Lightning builds on top of multisignature transactions. To send bitcoin over the Lightning Network, a user needs to open a Lightning "channel." Once they do, they can make as many transactions as they would like off-chain – potentially thousands – without touching the main Bitcoin blockchain. This process helps Bitcoin scale because there's limited on-chain capacity. In this way, Lightning already boosts Bitcoin's privacy because, unlike with on-chain transactions, none of the individual transactions between the opening transaction and the closing transaction are stored directly on the Bitcoin blockchain. But for now, each Lightning opening channel is a detectable on-chain transaction, which looks different from normal, simple transactions. Similarly, the final transaction a user makes when they want to close their channel shows up as a distinctly different type of transaction on the Bitcoin blockchain. Taproot hides these transactions from plain view. With Taproot, any transaction on the Bitcoin blockchain could conceivably be a Lightning open or close. But no one could possibly know for sure, thanks to Taproot's cryptography. "So we'll get into nice situation that many random [transactions] out there 'could have been' [Lightning Network] channels which actually transport coins off-chain, hugely boosting privacy even for people who don't use [Lightning Network]," as Bitcoin privacy expert Chris Belchertweeted in 2020, a year before Taproot activated. As we described above, Taproot Lightning transactions can be hidden on-chain. But some off-chain entities can still see the payments. The Lightning Network is, as the name suggests, a network, composed of thousands of "routingnodes" connected together that help to "route" payments to their destination. Each Lightning payment bounces from one routing node to the next through channels, until it reaches the recipient. Each of these routing nodes can see a little bit about each payment that they route. Some of the information about the payment is already shielded to a degree – like where the payment came from. Currently, these payments are secured with so-called "Hash Time Locked Contracts (HTLCs)," smart contracts that ensure that the routing nodes in a payment's path cannot steal a user's payment (though they can receive a small fee for each payment that they route). With HTLCs, routing nodes can see the preimage. Because this preimage data is the same across all bounces in the payment path, it's possible for spying routing nodes to figure out where a payment came from. Say a spy owns two routing nodes which detect two payments with the same preimage. Using that information, it can potentially guess thepayment's senders and receivers. Taproot opens the door to a HTLC replacement:Point Time Lock Contracts(PTLCs). PTLCs offer a way to undermine this kind of spying. Because each "payment point" looks different, unlike every HTLC preimage, it's less easy to correlate each bounce in a payment route. As such, PTLCs offer better Lightning Network privacy. The bad news is that these types of indistinguishable transactions won't suddenly be possible now that Taproot is activated, however. It's exciting that Taproot transactions are now finally possible, but there's still plenty of work to do. Most wallets allowing users to send and receive bitcoin transactions still need to upgrade their software to support Taproot. Read more:After Taproot, What’s Next for Bitcoin’s Future? And for Lightning transactions in particular, each Lightning software implementation needs to add support for the new transaction type. Then, wallets do as well. This will take some time. Similarly, PTLCs aren't a change that will be possible straight away. As with Taproot hiding complex transactions, there's still a lot of development to be done to support PTLCs in each Lightning implementation. Not to mention, Taproot has one privacy problem in the short term: Taproot transactions look different from the transaction types that came before it. So far, onlyless than 1%of Bitcoin transactions support Taproot. So, Taproot transactions themselves stand out from the rest of the transactions. Still, ifSegWit, Bitcoin's previous upgrade, is any indication, the Taproot adoptionwill grow to become the standard over time. Taproot has finally activated after years of development, meaning a massive hurdle has been crossed in the path to these shiny privacy improvements. || Natural Gas Slides but Holds Key Support: Natural gas moved lower on Tuesday, testing critical support. The weather is expected to be much colder than normal in the South, mid-West, and East Coast during the next 6-10 days. The weather will likely moderate during the next 8-14 days, with colder air in the mid-West and East Coast and warmer air on the West Coast. U.S. consumption of natural gas increased across the entire U.S. last week due to the weather and LNG exports. On Tuesday, natural gas prices dipped, testing support near an upward sloping trend line that comes in near 4.61. Additional support is seen near the 10-day moving average at 4.23. Resistance is seen near the December highs at 5.51. Short-term momentum has turned negative as the fast stochastic generated a crossover sell signal. Medium-term momentum is positive as the MACD (moving average convergence divergence) histogram is printing in positive territory with an accelerating trajectory which points to higher prices. Prices are overbought as the fast stochastic is printing a reading of 87, above the overbought trigger level of 80. U.S. total consumption of natural gas increases across all sectors compared with the previous report week. Total U.S. consumption of natural gas rose by 14.2% compared with the previous report week, with increases greater than 4% week over week in all sectors. The largest increase was in the residential and commercial sectors, where consumption increased by 21.4% as substantial below-average daytime and nighttime temperatures took hold. Thisarticlewas originally posted on FX Empire • Solo Bitcoin Miner Solves One Full Valid Block as BTC Price Pushes for Gains • European Equities: Eurozone Inflation and U.S ADP Nonfarm Payrolls in Focus • Silver Markets Continue to Attempt Base Building • S&P 500 Sluggish at Big Figure • USD/CAD Tests Support At 1.2680 • Crude Oil Markets Continue to Push Higher || Should You Invest in the Metaverse, Crypto or the Stock Market?: katleho Seisa / Getty Images If you’re an investor looking for capital appreciation, the stock market has always been a top choice. However, in recent years, two new areas for investment have unlocked exciting new opportunities for risk-tolerant investors. See: Have $1,000? These Are the Top 25 Stocks To Buy Find: Best Metaverse Coins to Buy for 2022 The metaverse and cryptocurrency , while related, are distinct asset classes that carry the potential for high returns in exchange for the risk of losing everything. Whether they are solid investment options — along with their risks and rewards — are still very much up for debate, though. Here’s a rundown of the investment characteristics of the metaverse, cryptocurrency and the stock market, along with a look at which type of investor might be suitable for each. Investing in the Metaverse The buzziest asset class in recent months has likely been the metaverse , but many investors still have no idea what it is. Part of the reason is that “the metaverse” doesn’t have one single definition. Essentially, it’s an online world that’s a blend of virtual reality, social media and augmented reality, often powered by crypto. This virtual world has been used for years by gamers and developers, but it’s rapidly evolving into a parallel online universe where real financial transactions can take place. The current hot investment in the metaverse is virtual property , where prices have jumped about 500% over the past few months, according to the CEO of Tokens.com, Andrew Kiguel. One investor even paid $450,000 for a plot of land in the same virtual neighborhood as rapper Snoop Dogg. This may only be the start. Analysts at Bloomberg Intelligence see the value of the metaverse hitting $800 billion as soon as 2024, while Morgan Stanley analyst Brian Nowak estimates that value could top out at as much as $8 trillion. Social media giant Facebook even rebranded its entire company as Meta Platforms, indicating its belief in the enormous future significance of the metaverse. While the metaverse has exciting potential, investors should realize this early-stage asset class may offer either huge returns or devastating losses. Story continues Best for: Risk-tolerant investors wanting to get in on “the next big thing” Worst for: Conservative investors looking for reasonably predictable returns Learn: 5 Numbers You Need To Know About the Metaverse Investing in Cryptocurrency Cryptocurrency has made millionaires out of some investors, but it’s also cost many their fortune. Bitcoin and Ethereum are the two leading cryptos, with market capitalizations of about $750 billion and $325 billion, respectively. No other crypto is currently worth more than about $80 billion, and most of the remaining thousands of cryptos have minuscule market caps. Cryptocurrencies are incredibly volatile, as they have yet to prove their widespread utility in real-world transactions. Some speculators hope that crypto will one day either supplant or co-exist with fiat currencies like the U.S. dollar, but its real value may be realized if the metaverse becomes a viable entity. Either way, crypto remains a highly speculative investment, with the potential to generate tremendous gains or become completely valueless. It’s best suited for investors who can stomach wild swings in value and the potential to lose their entire investment. Best for: Highly risk-tolerant investors with capital they can afford to lose Worst for: Those on limited incomes or with no stomach for volatility Check Out: How To Become Rich by Investing in Crypto Investing in the Stock Market The stock market used to be considered one of the more volatile asset classes, but compared with cryptocurrency, it’s downright stable. Although the stock market experiences a 10% selloff, known as a correction, at least once per year on average, the market’s long-term returns are surprisingly consistent. In fact, there has never been a 20-year rolling period in which the S&P 500 stock market index has posted a negative return. This makes investing in a stock market index much less risky than it may seem for long-term investors. And with a long-term average return of about 10% annually, you could potentially double your portfolio every seven years or so. You’ll just need the mental fortitude to survive the occasional 10% to 20% drop in market values, which have always proven to be long-term buying opportunities for patient investors. Best for: Investors looking to build long-term wealth with some level of volatility Worst for: Investors seeking capital preservation or with short-term financial goals Explore: Ways Investing Will Change in the Next 25 Years The Bottom Line The metaverse, cryptocurrency and the stock market all offer the potential for outsized gains, but they each carry moderate-to-high levels of risk, especially over the short term. Of the three, the stock market is the least risky for long-term investors, as it has an incredible track record and is backed by real companies generating real revenues and earnings. Cryptocurrency and the metaverse can only be described as speculative investments at this point, as they are currently only backed by the hopes and dreams of investors. If the metaverse does become a viable parallel world powered by cryptocurrency, both of those investments may have a real foundation for growth. Investors just need to fully understand the risks involved and avoid sinking their entire nest eggs into these speculative asset classes. More From GOBankingRates Experts: Here's How Much You Should Have In Your Checking Account 22 Side Gigs That Can Make You Richer Than a Full-Time Job What To Do With Your Money During High Inflation It's Not Too Late To Set Your Financial Resolutions, Monifi Can Help This article originally appeared on GOBankingRates.com : Should You Invest in the Metaverse, Crypto or the Stock Market? || LBank Exchange Will List Rewardeum (REUM) on March 4, 2022: LBank Exchange Will List Rewardeum (REUM) on March 4, 2022 INTERNET CITY, DUBAI, March 04, 2022 (GLOBE NEWSWIRE) -- LBank Exchange, a global digital asset trading platform, will list Rewardeum (REUM) on March 4, 2022. For all users of LBank Exchange, the REUM/USDT trading pair will be officially available for trading at 18:00 (UTC+8) on March 4, 2022. As a next-generation 2-layered sustainable reward generating project,Rewardeum(REUM) diminishes the known issue of rewards’ depletion due to dependency with volume that all other reward projects inevitably face, and ensures that daily rewards remain consistent across fluctuating trading volume with features such as Dynamic Tax Pool and Smart Pool mechanism. Its native token REUM will be listed on LBank Exchange at 18:00 (UTC+8) on March 4, 2022, to further expand its global reach and help it achieve its vision. IntroducingRewardeum Aiming to become the leading reward center in the crypto space, Rewardeum is created as a passive income generator with a layer-2 reward sustainability mechanism. It provides not just rewards in BNB, but a massive collection of tokens including BTC, ETH, USDT, BUSD and many more. Users can select form a list of tokens to claim as their reward in a daily basis, and the list will grow as community will continuously vote for their favorite tokens to be added. In addition to these token rewards, the Vault is created by Rewardeum as a separate storage pool that can hold other assets of value such as NFTs. With its planned exclusive partnerships, users will have the ability to mint a limited number of NFTs when claiming its partners’ tokens, enter lottery draws to win NFTs and much more. This opens the door for more exciting options to REUM holders and keeps the platform fresh and exciting for everyone. The anti-dump mechanism of Rewardeum will prevent individuals manipulating the market for their own personal gain. The more an investor sells over a 24h period, the more tax will be applied to each additional transaction, on top of the existing transaction tax. And the smart pool feature of Rewardeum gives the reward pool some breathing space during periods of low volume and fast reward pool decline. A dynamic portion of all transaction taxes and all anti-dump taxes will continuously keep the smart pool topped up. Rewardeum has been fully audited by SolidProof. With a flexible contract (in terms of rewards integration), Rewardeum sets itself apart from other projects as it offers exclusive partnerships, NFT lotteries, and new tokens being voted bi-weekly by the community. About REUM Token REUM is the native token of the Rewardeum. The Dynamic Tax Protocol (DTP) is REUM’s revolutionary mechanic that adjusts its tax rates to sustain and refill supply pools. DTP refills the liquidity pool when needed and prioritises up to 13% of the total transaction tax to the reward pools when liquidity is healthy. The total supply of REUM is 1 quadrillion (i.e. 1,000,000,000,000,000), 21% of it was already burnt at launch, 4.2% is provided for development, 4.5% will be used for marketing, 10.6% is provided for private sale, 35.5% is provided for presale, 22.9% is for public launch, and the rest 1.3% is provided for community competitions and giveaways. The REUM token will be listed on LBank Exchange at 18:00 (UTC+8) on March 4, 2022, investors who are interested in Rewardeum investment can easily buy and sell REUM on LBank Exchange by then. The listing of REUM on LBank Exchange will undoubtedly help it further expand its business and draw more attention in the market. Learn More aboutREUM Token: Official Website:https://rewardeum.com Telegram:https://t.me/rewardeum Twitter:https://twitter.com/rewardeum About LBank Exchange LBank Exchange, founded in 2015, is an innovative global trading platform for various crypto assets. LBank Exchange provides its users with safe crypto trading, specialized financial derivatives, and professional asset management services. It has become one of the most popular and trusted crypto trading platforms with over 6.4 million users from now more than 210 regions around the world. Start Trading Now:lbank.info Community & Social Media: lTelegram lTwitter lFacebook lLinkedin Contact Details: LBK Blockchain Co. Limited LBank Exchange [email protected] Disclaimer : There is no offer to sell, no solicitation of an offer to buy, and no recommendation of any security or any other product or service in this article. Moreover, nothing contained in this PR should be construed as any recommendation. Readers are encouraged to do their own research. || Russia Reportedly Wants To Introduce Tax on the Exchange of Crypto for Rubles: A recent report from Russian newspaper Izvestiasuggeststhat the Russian Ministry of Economic Development plans to call for taxing crypto when it is converted into Russian rubles. According to the report, the Ministry of Economic Development wants to tax cryptos when users realize their profits and convert them back into rubles. If this proposal is accepted, such a transaction will be taxed at an income tax rate, which is 13% in Russia (in most cases). Also, the report indicates that the Ministry of Economic Development wants to allow crypto mining in energy-rich regions and is even ready to propose special electricity tariffs. This looks like a dream come true for crypto miners, although this proposal will likely face material opposition. Russia isexpectedto release a draft version of the new crypto law by February 18, so we will likely see more news on this front in the next few days. At this point, it looks that Russia does not want to miss potential profits fromBitcoinmining, and would also like to take its share of the crypto traders’ profits. At the same time, it is unclear whether the final version of the legislation will be too soft as the Russian Central Bank views cryptocurrencies as a threat to the financial system and is worried about crypto’s role in money laundering. The good news is that Russia should not ban mining, as more countries become hostile to the industry due to energy shortages and high electricity prices. In the short term, cryptocurrencies will also be sensitive to other news from Russia. Recentreportsfrom Russian news agencies suggest that some troops have been given orders to move away from the Ukrainian border, which is bullish for all riskier assets, including cryptocurrencies. Thisarticlewas originally posted on FX Empire • Canada Targets Crypto Donations Via Emergency Act • Russia Reportedly Wants To Introduce Tax on the Exchange of Crypto for Rubles • Russia – Ukraine War Could Send Oil Skyrocketing Over $100 • Shares of Hotel Giant Marriott Rise on Q4 Earnings Beat • Chainalysis: $400M Worth of Ransomware Crypto Affiliated to Russia • Rate Hike Worries Set Aside as Gold Buyers Chase Headlines || Natural Gas Prices Whipsaw on Warm Weather Forecast: Natural gas prices whipsawed and closed higher after rising sharply on Monday. Markets. Prices should be capped by local demand as the weather is expected to be warmer than normal throughout most of the United States for the next 2-weeks. Natural gas supplies fell in the latest week. Technical Analysis Natural gas prices moved higher but met resistance near the 10-day moving average at 4.38. Support is seen near the 200-day moving average at 4.22. Short-term momentum has turned positive as the fast stochastic generated a crossover buy signal. Prices are oversold. The fast stochastic is printing a reading of 18, below the oversold trigger level of 20 which could foreshadow a correction. Medium-term momentum has turned negative as the MACD (moving average convergence divergence) index generated a crossover sell signal. This scenario occurs as the MACD line (the 12-day moving average minus the 26-day moving average) crosses below the MACD signal line. Supplies Fall in the Latest Week U.S. total natural gas supply falls this report week due to decreased dry natural gas production. According to data from the EIA, the average total supply of natural gas fell by 2.7% compared with the previous report week. Dry natural gas production decreased by 3.6%, while average net imports from Canada increased by 9.1% week over week. This article was originally posted on FX Empire More From FXEMPIRE: Israeli Court Says Bank Is Allowed To Refuse Bitcoin-Related Deposits Silver Gets Clobbered Natural Gas Markets Give Up Early Gains “Ban Crypto Trading and Mining”, Says Hungary Central Bank’s Governor Silver Prices Move Lower Amid Easing Geopolitical Tensions European Equities: U.S Retail Sales and the FED in Focus || Dow plummets 464 points as Ukraine declares state of emergency and US warns of imminent attack: • All three major indexes dropped Wednesday, extending losses after the S&P 500 fell into correction. • The US warned that Russia is on the brink of an attack, and Ukraine declared a state of emergency. • The European Union adopted new sanctions against Russian elites and lawmakers. Major US indexes dropped to extend losses a day after the S&P 500 enter correction territory as tensions continued to escalate between Russia and Ukraine. The US warned that Russia ison the verge of an attack. Ukraine declared a state of emergency, and urged its citizens to leave Russia as soon as possible. As Kyiv prepares for a Russian invasion, it hascalled on reserve troopsaged 18-60 to serve. The European Union adopted new sanctions against Russian elites and lawmakers, targeting dozens of "high profile individuals." Here's where US indexes stood as the market closed at 4 p.m. on Wednesday: • S&P 500: 4,225.60, down 1.84% • Dow Jones Industrial Average: 33,131.96, down 1.38% (464.65 points) • Nasdaq Composite:13,037.49, down 2.57% To JPMorgan's Marko Kolanovic, the recent stock market correction doesn't validate"end-of-cycle" worries, as a rebound in risk assets is still likely. "The start of policy tightening is usually a confirmation that the cycle has legs, rather than the signal of its end," Kolanovic said. Meanwhile, the bank's chief US equity strategist saidenergy stocks are the "highest conviction"sector this year, and also makes for a strong hedge against inflation and geopolitical uncertainty. Elsewhere in the market,FTX hired a new beauty entrepreneuras it expands into the $300 billion luxury goods market, and the shiba inu metaverse announced plans to sell35,000 plots of virtual land. Shares ofVirgin Galacticjumped as much as 12% after the company reportedsmaller-than-expected losses,though the stock pared most of those gains to close higher by about 3%. Oil priceswere mostly flat. West Texas Intermediate crude edged lower to to about $91.89 per barrel.Brent crude, oil's international benchmark, was trading around $96.68 per barrel. Goldedged up by 0.14% to 1,910.10 per ounce. The10-year yieldedged higher to 1.98%. Bitcoinslipped 0.22% to $37,535.90 Read the original article onBusiness Insider || Take Quizzes and Earn Crypto with Phemex: Phemex Singapore, Feb. 17, 2022 (GLOBE NEWSWIRE) -- Cryptocurrency and blockchain technology are revolutionary fields, but legislators throughout the world may not want you to know that. Bitcoin and blockchain have traveled a decade to arrive in 2021, and much has changed along the way. Blockchain, for example, is no longer restricted to the bitcoin industry, and it has emerged as a market disruptor! Its capabilities have expanded to include a wide range of industries. The bitcoin asset class is a multi-trillion-dollar business. Even so, many people are unfamiliar with the concept. For years, traditional and centralized financial institutions have overlooked and disapproved of this industry, with some even claiming that it poses a threat to the current financial system. However, more and more leaders in the financial world are beginning to see the asset class's potential and the possibility of a new financial universe. However, here’s what is missing in this space – crypto education. There is no denying that there are thousands of whitepapers, blogs, and publications. But these can quickly become overwhelming for anyone entering the scene. It is difficult for an average person to make a rational decision with so much noise in the market. But the world’s knowledge is just a few clicks away. Today, anyone can design their own learning road, set up their goals. Learning needs to be fun. Earning rewards while doing so might seem unreal, but Phemex makes this possible with its comprehensive Learn and Earn program . Launched in 2019, Phemex has emerged as one of the most prominent cryptocurrency exchanges in the world. Based in Singapore, the platform intends to position itself as the world’s most trustworthy exchange. Its user-base has grown tremendously over the last two years, thanks to its unique approach of prioritizing user-requested features and community feedback. Currently, Phemex hosts over a million traders. Learn and Earn Rewards Phemex has launched a new program dubbed ‘Learn and Earn‘ in a bid to educate the masses about the emerging industry. Story continues One of the main issues plaguing the world of cryptocurrency is the jargon-riddled information that might not help beginners. Hence, Phemex, via its education program, aims to simplify various concepts while providing a comprehensive course structure on cryptocurrency and blockchain. The Learn and Earn program will also include intuitive lessons and interactive videos to make the learning process more fun. But it doesn’t end there. Phemex plans to offer a chance for the users of the program to earn rewards. Users can put their knowledge to the test with a fun short quiz after each lesson, and if all the answers are correct, they receive a free reward. The carefully curated course by the exchange is entirely beginner-friendly and gives a fun way to learn as well as earn money. The first set of courses provides a broad overview of the exchange’s important essential features. It also encompasses core concepts about how cryptocurrencies work and how to buy and trade them on an exchange. CONTACT: Contact Details: Nicolas Tang Phemex, Internal Communications Associate Director [email protected] PR Contact: ZEXPRWIRE [email protected] || E-mini S&P Weakens Under 4419.25, Strenthens Over 4470.00: March E-mini S&P 500 Index futures are trading lower shortly after the mid-session and before the release of minutes from the Federal Reserve’s last meeting. The price action is being driven largely by concerns over the Russia-Ukraine conflict and the Federal Reserve’s plan to hike interest rates. At 18:26 GMT,March E-mini S&P 500 Index futuresare trading 4434.50, down 30.00 or -0.67%. TheS&P 500 Trust ETF (SPY)is trading $442.72, down $3.38 or -0.76%. ViacomCBSwas the biggest loser in the S&P 500 on Wednesday, with shares falling more than 21% after the company said it is rebranding itself as Paramount Global to focus on streaming. The company also reported lower-than-expected quarterly earnings. The main trend is down according to the daily swing chart. A trade through 4354.00 will signal a resumption of the downtrend. A move through 4586.00 will change the main trend to up. On the downside, the index is trading slightly above a series of retracement levels at 4419.25, 4327.50 and 4266.00. On the upside, resistance is a minor 50% level at 4470.00, followed by a short-term retracement zone at 4510.50 to 4580.75. The direction of the March E-mini S&P 500 Index into the close on Wednesday is likely to be determined by trader reaction to 4419.25. A sustained move under 4419.25 will indicate the presence of sellers. If this move creates enough downside momentum then look for the selling to possibly extend into the main bottom at 4354.00, followed by a Fibonacci level at 4327.50. If 4327.50 fails as support then look for a move into a 50% level at 4266.00. This is the last potential support level before the 4212.75 main bottom. A sustained move over 4419.50 will signal the presence of buyers. If this move generates enough upside momentum then look for a retest of 4470.00. Taking out this level will indicate the buying is getting stronger with 4510.50 the next target. Since the main trend is down, look for sellers on the first test of 4510.50. Overcoming this level could trigger an acceleration into the resistance cluster at 4580.75 to 4586.00. For a look at all of today’s economic events, check out oureconomic calendar. Thisarticlewas originally posted on FX Empire • Floki Inu High on BSC and Ethereum Whales’ Buying List • Crude Oil Markets Still Bullish • Silver Prices Move Higher Amid Strong Retail Sales Data • Bitcoin and Ethereum ETPs Now Available on Bulgaria’s Stock Exchange • S&P500: Is It 2011 All Over Again? • E-mini S&P Weakens Under 4419.25, Strenthens Over 4470.00 || GBP/USD Tests Resistance At 1.3735: GBP/USDis currently trying to settle above the resistance at 1.3735 while U.S. dollar is moving lower against a broad basket of currencies. The U.S. Dollar Index continues its attempts to settle below the support level at 94.75. In case the U.S. Dollar Index manages to settle below this level, it will move towards the next support level at 94.50 which will be bullish for GBP/USD. Today, foreign exchange market traders will have a chance to take a look at the economic data from UK. Analysts expect thatUK GDPincreased by 0.4% month-over-month in November after growing by 0.1% in October. On a year-over-year basis, GDP is projected to increase by 7.5%. Traders will also focus onIndustrial ProductionandManufacturing Productionreports for November. Industrial Production is expected to grow by 0.2% month-over-month. On a year-over-year basis, Industrial Production is projected to increase by 0.5%. Manufacturing Production is projected to increase by 0.2% on a month-over-month basis. Traders should also monitor the developments in U.S. government bond markets as Treasury yields have started to move higher after the recent pullback. While the U.S. dollar remains under pressure against a broad basket of currencies, higher rates may ultimately provide enough support to the American currency. GBP/USD is testing the resistance level at 1.3735. In case this test is successful, GBP/USD will move towards the next resistance level which is located at 1.3765. RSI is close to the extremely overbought territory, so the risk of a pullback is increasing. In case GBP/USD manages to settle above the resistance at 1.3765, it will move towards the next resistance at 1.3800. A successful test of this level will open the way to the test of the resistance at 1.3830. On the support side, the nearest support level for GBP/USD is located at 1.3700. If GBP/USD declines below this level, it will move towards the next support at 1.3665. A move below 1.3665 will push GBP/USD towards the support at 1.3635. For a look at all of today’s economic events, check out oureconomic calendar. Thisarticlewas originally posted on FX Empire • Brazil City Rio de Janeiro Will Buy Bitcoin for City Reserves • North Korean Hackers Stole Over $200 Million Worth of Ethereum in 2021 • Planet Fitness Price Target Raised to $106 at Morgan Stanley • Eurozone Trade Data Tests EUR Support after First Deficit Since 2014 • Aussie Struggling at .7274 – .7341 Retracement Zone • Crypto.com Lists Ethereum-Based IDEX (IDEX) [Random Sample of Social Media Buzz (last 60 days)] None available.
Trend: up || Prices: 38062.04, 38737.27, 41982.93, 39437.46, 38794.97, 38904.01, 37849.66, 39666.75, 39338.79, 41143.93
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 2017-02-08] BTC Price: 1063.07, BTC RSI: 71.50 Gold Price: 1237.60, Gold RSI: 69.20 Oil Price: 52.34, Oil RSI: 48.37 [Random Sample of News (last 60 days)] Traders talk what to trade near Dow 20K: The "Fast Money" traders weighed in on which stocks to buy as the Dow Jones industrial average(Dow Jones Global Indexes: .DJI)neared 20,000 on Friday — coming within 1 point of the psychologically-significant milestone. Trader Brian Kelly shocked the desk by revealing he bought more Tesla(TSLA)shares on Friday. The reasoning behind the trade, he said, is that Tesla isn't a "car company." Kelly explained that Tesla represents a "bigger-picture play" where the stock will benefit from the "decarbonization" of the electric grid—or the shifting away from the use of fossil fuels to generate electricity. Trader Guy Adami agreed that Tesla's stock has "a lot of room to the upside." Shareholders from Tesla and SolarCity both approved a merger between the two companies, with Tesla paying $2.6 billion to acquire the struggling solar energy company. At the time, Tesla said it expects SolarCity to add more than half a billion dollars in cash to Tesla's balance sheet over the next three years. Trader David Seaburg said he likes Amgen(AMGN), saying there are a several "near-term triggers that could take the stock a lot higher." He sees shares of the biopharmaceutical company growing at least another 10 percent by the end of January. One major decision to keep an eye on, he said, is the possible expansion of the PCSK9—the drug involved in a recent legal battle between Amgen andSanofiandRegeneron Pharmaceuticals. Sanofi and Regeneron have 30 days to appeal the ruling in Amgen's favor. Trader Steve Grasso said he hasn't been picking individual stocks lately, instead deciding to invest in broad ETFs. If pressed to pick an individual stock, he said Amazon(AMZN)is an attractive choice because of its upcoming earnings release on Feb. 2. —CNBC's Robert Ferris contributed to this report. Disclosures: STEVE GRASSO Steve Grasso's firm is Long: VIRT, WDR, FCX, ICE, KDUS, MJNA, MSFT, NE, RIG, TAXI, TITXF, WDR, ZNGA, COG,CUBA, ICE, MJNA, TITXF, AGN, BIIB, REGN, SPY, GLD. Grasso is Long: CHK, EVGN, KBH, MJNA, MON, MU, OLN, PHM, SPY, SQ, TWTR, EEM, GDX. Grasso's Kids Own: EFA, EFG, EWJ, IJR, SPY. No Shorts. 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. An employee of Cowen and Company, LLC serves on the Board of Directors of Diamond Offshore BRIAN KELLY Long: FCX, TSLA, TLT, US Dollar, UUP, SLV, 10 Year Bonds, Bitcoin; short: Euro, Aussie Dollar, British Pound GUY ADAMI Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck. || 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. Bitcoin’s 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 theReddit bitcoin forumwrote, “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? 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. There’s 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. The yuan fell 6% against the US dollar in the past year, hitting its lowest point since 2008. China’s foreign exchange reserves are expected to keep shrinking in 2017. It’s 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 tobitcoinity charts. More than 90% of all bitcoin activity globally, in fact, is coming from China. Meanwhile, thePeople’s Bank of China cracked downwith stricter capital controls in 2016,as have Venezuela(wherethe bolivar is plummeting) and India (where there werefears 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 market—its success is not tied to mainstream equities. (Bitcoin saw a rise in activityin Greece during its bank shutdown in 2015andin 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 times—it can also thrive when the market is good. And while there is definite uncertainty about Trump’s policies, Wall Street isn’t 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. In July,the reward that bitcoin miners receive for recording bitcoin transactions on the bitcoin blockchain was halvedfor the second time in bitcoin’s history. In a nutshell: all bitcoin transactions are recorded onthe 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, it’s possible that speculative investment has heated up in response. On the other hand, the bitcoin price didn’t move much in the few days after the halving, so it’s hard to think supply is a major factor in the current ride. Nick Tomaino, who spent three years in business development at leading bitcoin wallet company Coinbase and now works at venture firm Runa Capital, thinks bitcoin’s ride in 2016 is a lot simpler than all that. He points to Lindy’s 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 it’s stronger than ever.” 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 Tomainowrites 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 peoplelike to dismissthe 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. More and more investors (and not just those on some kind of perceived fringe) are seeing the appeal of bitcoin as a speculative investment—even if they don’t understand it or theblockchain technologythat 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, andcontinued 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 Here’s 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 is shrugging off some big news of out of China: bitcoin atm (Photographers in front of a mock bitcoin ATM in 2014 during the opening of Hong Kong's first bitcoin retail store.Reuters/Bobby Yip) Bitcoin is little changed at $924 a coin as of 7:26 a.m. ET. Monday's flat session comes despite some big news out of China. According to Reuters, the country's three largest bitcoin exchanges announced plans to begin charging a flat fee of 0.2% for each transaction. Releases from BTCC , Huobi , and OkCoin reportedly said the fees were being implemented to "further curb market manipulation and extreme volatility." Bitcoin has had a wild start to 2017. The cryptocurrency rallied by more than 20% in the opening days of 2017 amid huge interest from China, which accounts for nearly 100% of trading . In fact, data from Cryptocompare found, "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." The early gains vanished in a matter of days, however, as bitcoin tumbled 35% on concerns that China was going to crack down on trading, with Beijing having announced it had begun investigating bitcoin exchanges in Beijing and Shanghai on suspicion of market manipulation, money laundering, unauthorized financing, and other issues. But bitcoin has managed to work its way off support in the $750 area, and it is trying to break out of resistance in the $880/$920 area that has defined trade for the past week. Monday's announcement could reduce some of the market volatility, as bitcoin traders in China won't be allowed to buy and sell without paying the new transaction fee. Bitcoin (Investing.com) NOW WATCH: Here's how to use one of the many apps to buy and trade bitcoin More From Business Insider Here's how to use one of the many apps to buy and trade bitcoin One country dominates the global bitcoin market Bitcoin is soaring View comments || China central bank urges rational investment in bitcoin: BEIJING (Reuters) - China's institutional and individual investors should take a rational approach to investing in virtual currencies such as bitcoin, the central bank said on Friday. Bitcoin prices had showed abnormal fluctuations, the Shanghai head office of the People's Bank of China (PBOC) said in a notice. This prompted branch officials to meet representatives of a major bitcoin trading platform in China, BTCC. They cautioned against potential risks in the platform's operations and asked it to carry out "self-inspection" according to the law, the bank said. It stressed bitcoin is not a currency and cannot be circulated as a real currency in the market. (Reporting by Yawen Chen and Kevin Yao; Editing by Clarence Fernandez) || China's media is about to go to 'war' Russia style: (Reuters) China is consolidating its overseas news network, CCTV, and giving it a makeover,according to the Associated Press.The network will be called CGTN. At the same time, Xinhua, China's official state news network, will consolidate a bunch of outlets under a new umbrella to focus itsfinancial-reportingefforts. China Securities Journal, Shanghai Securities News, Economic Information Daily and Xinhua Publishing House will all now be housed underChina Fortune Media Corporation Group. Xinhua says this is an effort to deepen "the central authority's reforms of the cultural system" and "increasing mainstream media's influence in the area of financial information." This move shows China following the example of Russia's state-backed international network, RT. China wants more control over its story — specifically the story of its economy — being told around the world, in similar fashion to how RT acts to spread Russia's viewpoint across the globe. Chinese media has always been tightly controlled by the state, but under Xi Jinping that has taken on a whole new meaning. Around this last time last year, Xiwas visiting newsroomsensuring that journalists and executives had sworn their loyalty to the Chinese Communist Party. "All news media run by the Party must work to speak for the Party's will and its propositions and protect the Party's authority and unity," Xi was quoted as saying. Xi has called for this ideological uniformity when it comes to all kinds of thought from education at all levels to Chinese think tanks. CCTV has been around since 1958 and has been available globally and available in English, Arabic, French, Spanish, and Russian for years, and it has a bureau in DC. In 2011, I toured their DC facilities as part of a Columbia Journalism project researching global media networks — Iran's Press TV, France's France 24, Qatar's Al Jazeera, Russia's Russia Today (RT), and China's CCTV. The Columbia group found CCTV's content mostly boring but inoffensive: Officials doing ribbon-cutting ceremonies at new infrastructure projects and Chinese cultural content. Of course until 2008 RT operated in much the same way. It was meant to be a friendly introduction to Russia. After President George W. Bush became vocal about his opposition to Russia's incursion into neighboring former Soviet state Georgia, however, things changed. RT's directive then morphed into challenging the US as a superpower and questioning the legitimacy of its government. In an interview withGermany's Der Spiegel in 2013,RT'sEditor-in-chief, Margarita Simonyan, said that during the Georgia conflict Western media "acted as if they were Georgia's ministry of defense." A year later she referred to what her network does as fighting in"a media war." With China's focus on the financial world, it appears its aims will not be exactly like Russia's: China could be seeking to spread its economic message, while RT tends more toward the geopolitical. The Chinese economy is under strain thanks to years of exploding debt (now approaching 280% of GDP) and currency leaving the country at an eye-popping rate ($82 billion in December). This move will shore up China's economic messaging not just at home but also abroad. NOW WATCH:Here's the massive gap in average income between the top 1% and the bottom 99% in every state More From Business Insider • Bitcoin plunged again • Lincoln is outperforming the luxury auto market • Bitcoin is still dropping || Monday Hot Reads: Possible Surprises For Investors In 2017: Compiled by ETF.com Staff Possible Surprises For Investors In 2017(BlackRock Blog) Nothing is for certain, so don't place too much weight on market expectations. As Bitcoin ETF Nears, Analysts Warn Of Trading Frenzy(Wall Street Journal) An easily accessed ETF that tracks the value of bitcoin could cause money to flood in to the fledgling bitcoin market, analysts say. Which Assets Are Most Likely To Survive The ‘System Reset’?(ZeroHedge) Your skills, knowledge and social capital will emerge unscathed on the other side of the reset wormhole; your financial assets held in centrally controlled institutions won’t. US Bears Are Targeting Euro-Area ETF Like Never Before(Bloomberg) A record 95,350 put options on theSPDR Euro Stoxx 50 ETF ‘FEZ’changed hands on Friday as a trader bought 45,000 March/May $33 put spreads. Pitting The Bogle Model Against The Yale Model(A Wealth Of Common Sense) The former is likely to outperform the latter in most scenarios and circumstances. When A Blogger Turns Portfolio Manager(InvestorPlace.com) The manager of theAdvisorShares Focused Equity ETF ‘CWS’receives a fulcrum fee and has "skin in the game." The Value Of Incremental Steps In Your Investment Portfolio(FMD Capital) You never have all the facts to make a perfect decision. You’re only able to see the right answer with the benefit of hindsight. So make portfolio changes in incremental steps to avoid the pitfalls of emotional investing. Recommended Stories • 5 Biggest Broad Commodity ETFs Differ In Approach • Here’s A Portfolio Based On JP Morgan’s 2017 Outlook • Betting On Red: Building A Russian ETF Portfolio • Advisors, Due Diligence Crucial To Asset Allocation • Swedroe: Tactical Approaches Miss The Mark Permalink| © Copyright 2017ETF.com.All rights reserved || 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. Bitcoin’s 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. There’s 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. China’s foreign exchange reserves are expected to keep shrinking in 2017. It’s 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 People’s 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 market—its 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 times—it can also thrive when the market is good. And while there is definite uncertainty about Trump’s policies, Wall Street isn’t 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 bitcoin’s 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, it’s possible that speculative investment has heated up in response. On the other hand, the bitcoin price didn’t move much in the few days after the halving, so it’s 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 bitcoin’s ride in 2016 is a lot simpler than all that. He points to Lindy’s 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 it’s 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 investment—even if they don’t 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 Here’s 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 || Traders look at housing trades that are building up for the new year: With the SPDR S&P Homebuilders ETF (NYSE Arca: XHB) climbing about half a percent Monday, the " Fast Money " traders weighed in on housing stocks building up for 2017. Trader Brian Kelly noted that even though housing starts fell below estimates last week, 2017 could be the year for homebuilders to break out. The sector's climb reminded him of another big performer from 2016. "The homebuilder is set up similar to how the financials did last year where this could be a big breakout trade if you have that economic growth that's going to push people in homes," he said. Trader Karen Finerman said she's not concerned about the move in the homebuilders ETF. She attributed it to the end of the election and the end of uncertainty. As the low-end buyer in the sector, KB Home (NYSE: KBH) has the potential to be a strong stock next year in the face of regulation rollbacks from the Trump administration, trader David Seaburg said. Even thought the stock is up 33 percent year to date, Seaburg said it still has room to grow, while the high-end Wall Street banks are going to continue to have problems with regulation. "I like the KBH. Even though it's up strong, I think it continues," he said. Disclosures: GUY ADAMI long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck. KAREN FINERMAN long AAL, BAC, BAC short calls, C, DAL, FB, FL, GLMP,, GOGO, GOOG, GOOGL, JPM, LYV, KORS, KORS calls, KORS puts, M, MA, SEDG, SPY puts, TACO, 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. Karen Finerman is on the board of GrafTech International. BRIAN KELLY long Bitcoin, TLT, US30Y. He is short EUR=.,AUD,GPB 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.Diamond Offshore: an employee of Cowen and Company, LLC serves on the Board of Directors of Diamond Offshore More From CNBC Traders weigh oil stocks amid pullback Stress boom to boost drug sales? Rumor visits the Nasdaq, fresh off her Westminster win || Malware study shows people still falling for old tricks, but there’s hope: Too many of us still fall for the old “click this attachment” email trick, and get our computers infected with malware or viruses. The result: our data is increasingly being taken hostage by ransomware creators. Santa Clara, Calif.-basedMalwarebytes’new“State of Malware Report 2017”brings that and more bad news about security to light. But a chat with one of the people behind the study offered a few reasons to be optimistic, as well. Specifically, that a lot of today’s software, if properly updated, can help protect itself. Ransomware, or apps that encrypt your data and then demand you pay a ransom (usually in Bitcoin) for a decryption key, have become a big business. In fact, the malware has afflicted everything fromhospital computer systemsto the occasional“smart” TVto themore than 100 surveillance cameras in Washington hacked days before President Trump’s inauguration. Malwarebytes’reportwhich is largely based on data from the company’s Windows and Android anti-malware apps, helps provide some context as to how bad the ransomware problem has become. According to the report, in January 2016, ransomware constituted 18% of all malware delivered by email or through exploits of existing software. By November 2016, it had climbed to 66%, which the report labels “an unprecedented domination of the threat landscape.” The U.S. is the top target, while Russia, the home of many ransomware developers, is one of the least popular targets. In a phone interview, Malwarebytes director of malware intelligence Adam Kujawa noted the pickiness exhibited by the two major families of ransomware, Cerber and Locky: “Both avoid any systems that appear to be coming from Russia or the surrounding countries.” But that’s not the depressing part of this report if you’ve been following the virus business for a while. That comes when you learn that Malwarebytes still sees a lot of malware getting on computers via in email attachments, many of which are Microsoft(MSFT)Office attachments withembedded macros whose code will attack your computer. Those techniques date back to the days of dial-up internet, when Office was much more lenient about running macros in random documents anddefending against them was harder. And yet here they are again. As Kujawa put it: “Where are we, 2005?” Today’s malware spam often comes personalized for particular users and tries to fool them into thinking that clicking a button in a Word document or Excel spreadsheet will unlock it for viewing, when in reality it will start a download of malicious code that can then take over their computers. (You can read a detailed breakdown of one such attack inthis December post from Sophos researcher Paul Ducklin.) The Malwarebytes report also calls out a few other growing hazards online. One “ad fraud” malware, which can generate a decent amount of income for cybercriminals, proved nearly as popular as ransomware. Ad fraud malware commanders a victim’s computer to visit sites and click on ads placed by the authors of the malware attack or their business partners. The report further nods to the rise in “botnet” software taking over computers — including“Internet of Things” devices like connected security cameras— and using them as part of distributed denial of service (DDoS) attacks. Unlike ransomware, however, the U.S. isn’t seeing the worst of this form of malware. According to Malwarebytes, 61.2% of all botnets are found in Asia, while about 15% are found in Europe. Interestingly, the U.S. was the leading venue for Android malware, with 12.74% of all detections happening here. But if you stick to Google’s (GOOG) Play Store for downloading apps — the default in the U.S. — your odds of being the victim of an attack are exceedingly low. Kujawa noted that Google does a good job of quickly yanking the occasional malware app that sneaks into its app market. He further added that Apple’s (AAPL) iOS, which can’t connect to alternative app sources, is even safer. While Malwarebytes’ report leaves it to the reader to figure out how to avoid being a victim of malware, Kujawa pointed out that many of these attacks can be thwarted by using current software. “A lot of these exploit kits, the vulnerabilities they target, they’ve been patched for a long time,” he said. For example, he noted one common way criminals attack people’s computers is through an Adobe (ADBE) Flash flaw from 2012 — but his advice for thatfast-fading media plug-inremains to “disable it entirely.” (FollowAdobe’s instructions to uninstall Flash.) The operating system you run matters, too. Youmay feel comfortable with Windows 7, but Kujawa called Windows 10 “a more secure operating system at the base level,” andother security researchers have come to the same conclusion. The Mac remains relatively more secure, even after incidents likelast year’s brief ransomware outbreak. Said Kujawa: “Every year, we say… this is the year when Mac malware is going to be huge, and it has yet to come to fruition.” But more secure software doesn’t mean that malware authors will give up and get real jobs. They’ll just switch their attention to attacking our brains instead of our apps, trying various forms of social engineering to get us to pause our skepticism and click the wrong link just this one time, because it’s really important. More from Rob: • Comcast now lets you watch cable on your Roku • Study finds most people are scarred of being hacked, but don’t do much about it • Why you can’t stream this year’s Oscar nominees on Netflix • President Trump’s tech policy is a mystery • How carriers will keep D.C. online during the inauguration • What you should really know about every major hacking story • Outgoing FCC chair: Don’t go backward on net neutrality • Selfie drones and more fly into CES 2017 • Faraday Future’s FF91: Electric speed at a vaporous price EmailRobat [email protected]; follow him on Twitter at@robpegoraro. || Expect more blockchain hype in 2017: The price of the digital currency bitcoin rose more than 100% this year. At the outset of 2016, the controversial coin was trading around $430. This week, it cleared $900, its best level since 2013. As Bloomberg points out, it “crushed every other currency.” But the talk this year was all about blockchain. Blockchain, the open, tamper-proof, peer-to-peer ledger technology that underlies bitcoin, hascaptured the excitement of banks and financial institutionswho want to apply the technology to a wide range of processes—without bitcoin. (What exactly is blockchain?Watch this video.) This year, IBM announced the creation of a new unit called Watson Financial Services to encompass Watson, cloud, and all blockchain-related offerings and strategy. The computing giant created new jobs specifically devoted to blockchain, with the aim of harnessing blockchain technology for client services. Big banks and payment processors, too,staffed up for blockchain. On job networks like Monster.com, Yahoo Finance found more than 100 posts at companies like American Express, Bank of America, BNY Mellon, Capital One, Citigroup, Fidelity, and JPMorgan. Walmart partnered with IBM on a pilot program totrack the pork supply chain in Chinausing an IBM blockchain built through theHyperledger Project, an open-source group created by the Linux Foundation. IBM was a Hyperledger Project founding member, along with Accenture, Intel, JPMorgan, Wells Fargo and others. Jerry Cuomo, IBM’s VP of blockchain technologies,told Yahoo Financethat 2016 began with “blockchain tourism,” companies expressing public interest in experimenting with blockchain, but not necessarily doing anything real. Ramesh Gopinath, IBM’s VP of blockchain solutions, now says “there has clearly been a transition from experiments to real deployments.” To be sure, the examples of real deployments are still lacking. The average consumer doesn’t know or care about blockchain, and skeptics dismissall the “blockchain-without-bitcoin” talk as just talk. On the bitcoin blockchain, “miners” upload transactions in bundles called “blocks” and are rewarded in bitcoin as an incentive for mining; the transaction records are permanent and immutable. Bitcoin entrepreneurs insist that the entire point of a blockchain is negated if banks try to apply the same technology in a closed, permissioned context, without a digital currency. Some say banks will eventually come around to the uses of bitcoin itself.Balaji Srinavasan, CEO of 21.co, compares it to old narratives around online dating. “It was like, it’s for nerds, it’s for nerds, it’s for nerds,” he says, “and then suddenly, oh, here’s Tinder, and now it’s totally flipped and normal and you’d be crazy not to date that way.” Even if major mainstream applications of blockchain haven’t come along yet, big companies have at least made real investment, demonstrating a faith that all of this will go somewhere. Companies like Chain now offer “blockchain as a service” (BaaS), building specialized blockchains for these high-profile clients. Oliver Bussman, former CIO at UBS,writes on his advisory firm’s blogthat 2017 “will be the ‘year of the pilot’ for blockchain in financial services, as it moves from a proof-of-concept technology into production, especially in the cross-border payment and trade finance areas,” but adds that broad adoption of blockchain technology will still “happen more quickly outside of financial services—in areas like supply chain management, in e-government, or health care.” Meanwhile, the membership list continued to grow for R3 CEV, a consortium for banks and financial companies interested in deploying blockchain technology to improve their operations. R3 expects to close a new funding round of $150 million in the first quarter of 2017. Blockchain hype continued to grow in 2016, and in 2017 it will only get louder. The headlines weren’t as kind to bitcoin. In August,hackers stole $54 million worth of bitcoins from Hong Kong bitcoin exchange Bitfinex, the largest bitcoin exchange in the world by US dollar volume. It was the largest bitcoin hack since the infamous hack of Mt. Gox in 2013. In December, the peer-to-peer payment app Circle, which had also offered the ability to buy and sell bitcoin and was one of the earliest prominent bitcoin startups, announced it would no longer allow bitcoin buying on its app. The company said it would still use bitcoin as a settlement token on the back end, and it had already been pivoting away from being bitcoin-only when itadded the ability to deposit money via Visa, MasterCard or debit card, but the damage was done: news headlines touted that a prominent bitcoin company “gives up on” bitcoin (Fortune), “pulls the plug on” bitcoin (Wall Street Journal) or “says bye-bye” to bitcoin (pymnts.com). Circle isn’t the first prominent bitcoin startup to move away from bitcoin publicly. Bitreserve, a cloud bank led by former Nike CIO Anthony Watson,changed its name last year to Uphold, dropping the “bit” found in so many bitcoin company names. And there’s more: theIRS subpoenaed the bitcoin company Coinbase, one of the most well-funded bitcoin startups and provider of the most popular US bitcoin wallet, for personal information of its users from the past three years. But blockchain, too, had low points in 2016. This month, Goldman Sachs, JPMorgan, and Santander alldropped out of R3. This comes despite JPMorgan CEO Jamie Dimon saying in January of this year that bitcoin was “doomed,” but “the blockchain is a technology, which we’ve been studying… and yes, it’s real. If it proves to be cheap and secure it will be adopted for a whole bunch of stuff.” Don and Alex Tapscott,authors of the book “Blockchain Revolution,” summarize the banks-and-blockchain hype in 2016 this wayin an op-ed at Coindesk: “2016 was the year that many bank CEOs woke up to both the threat and the opportunity of the blockchain. At a meeting of 50 CEOs of the 50 largest banks back in January, most were skeptical. Now most are investigating how this technology might transform their companies and industry services.” Expect the “blockchain, not bitcoin” narrative to continue among Wall Street circles in 2017, despite the eye-rolls it garners from bitcoin faithful. But the appeal of bitcoin, as an investment, shouldn’t be underestimated. Bitcoin, like gold, isseen as a safe haven asset, uncorrelated to the mainstream markets. So when there’s uncertainty in the economy, many investors turn to bitcoin, and when there are tightened capital controls in countries like China, many investors turn to bitcoin. With the start of a new US presidential administration,there will be some uncertainty, and that might push bitcoin even higher. — Daniel Roberts is a writer at Yahoo Finance, covering technology and sports business. Follow him on Twitter at@readDanwrite. Read more: Bitcoin price soars, but it isn’t just about Trump and Clinton Here’s 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 [Random Sample of Social Media Buzz (last 60 days)] MMMBTC || MMMBTC || Cybercriminals on Dark Net Make $1000 to $200,000 in BTC a Month http://ift.tt/2he1Rih pic.twitter.com/pze73TxVw3 || One Bitcoin now worth $1010.89@bitstamp. High $1032.00. Low $993.24. Market Cap $16.252 Billion #bitcoin || MMMBTC || #EuropeCoin #ERC $0.043695 (-7.39%) 0.00005523 BTC (-8.24%) || MMMBTC || #Bitcoin last trade @bitstamp $882.00 @coinbase $887.82 Set #crypto #price #alerts at http://AlertCo.in  || Win bitcoin. Daily drawing. Details: Red Cross Says Hopes To Resume Aleppo Evacuation On Sunday http://www.btcstory.com/c/94af/158a72  || MMMBTC
Trend: up || Prices: 994.38, 988.67, 1004.45, 999.18, 990.64, 1004.55, 1007.48, 1027.44, 1046.21, 1054.42
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 2018-01-03] BTC Price: 15201.00, BTC RSI: 52.63 Gold Price: 1316.20, Gold RSI: 72.81 Oil Price: 61.63, Oil RSI: 73.03 [Random Sample of News (last 60 days)] 3 Top Infrastructure Stocks to Buy for Trump's 2018 $1 Trillion Plan: Investor interest in infrastructure stocks zoomed after President Donald Trump proposed a $1 trillion infrastructure spending program during his presidential campaign. The excitement, which has fizzled since, could soon be back, what with Trump finally planning to unveil his ambitious infrastructure plans in January 2018. If Trump can, indeed, jump-start infrastructure spending in coming months, stocks from the sector could get a huge fillip and give investors a solid opportunity to play the upturn. The question is: Which stocks could benefit the most from Trump's $1 trillion infrastructure program? Remember, infrastructure isn't only about roads and bridges. It's a huge sector with at least16 subsectors, and includes dams, railway tracks, waterworks, drainage systems, power and gas grids, transit systems, and pipelines, among others. That also means finding good infrastructure stocks to buy can seem like a daunting task, given the options out there. Some examples include: • Building materials like aggregates and cement supplier stocks such asVulcan MaterialsandU.S. Concrete. • Building product stocks likeMascoandBuilders FirstSourcethat are into roofing, flooring, plumbing, and so on. • Heavy construction-equipment manufacturers and rentals likeCaterpillar(NYSE: CAT)andUnited Rentals. • Essential raw material suppliers like steel stocks,Nucor(NYSE: NUE)andUnited States Steel Corporation(NYSE: X). • Infrastructure and engineering services companies such asAecom(NYSE: ACM),Chicago Bridge & Iron,and Jacobs Engineering. To help you make informed investment decisions, I studied several of these infrastructure companies in-depth and have come up with the top three infrastructure stocks that could benefit hugely from Trump's spending program, as and when it unfurls. Without steel, it would be difficult to construct bridges, pipelines, tunnels, and rail tracks, which is why steel stocks like Nucor and United States Steel are bound to be among the biggest beneficiaries when infrastructure spending takes off. Both industry stalwarts have seen their sales and profits grow in recent quarters and are on track to end fiscal 2017 on an encouraging note, thanks to strong demand from key end-user markets, especially nonresidential construction, automotive, and energy. It may finally be time to buy infrastructure stocks. Image source: Getty Images. Between Nucor and United States Steel, I like Nucor better for three reasons: strong profitability record even during a downturn, adiversified portfolio, and an incredible dividend streak. Nucor'sjudicious investments on growthin recent years are now generating strong returns on invested capital. Earlier this month, the steelmaker raised its dividend for the 45th consecutive year, proving its mettle despite operating in a highly cyclical industry. During the nine months through Sept. 30, 2017, Nucor operated its steel mills at 86% capacity compared to 80% in the year-ago period, indicating that end markets are already gathering steam. That's only going to pick up pace once infrastructure projects start up in the U.S. Moreover, Trump's strong stand against cheap and illegal steel imports could boost domestic demand, fueling Nucor's growth even more. I recently discussedthree stocksin the construction-equipment industry that could win big on an infrastructure upturn. But if you were to choose one, Caterpillar remains the top choice for two reasons: It is the undisputed global leader in construction machinery and has the broadest product portfolio among peers. As I mentioned earlier, infrastructure goes beyond roads and bridges. From that standpoint, Caterpillar enjoys a huge competitive advantage, thanks to its dominant position as an equipment supplier to key sectors like mining, oil and gas, power, and transportation sectors. Why, Trump evenadvocated Caterpillarduring his presidential campaigns, hinting that the construction giant could bag a big piece of government infrastructure projects once they kick off. Caterpillar's incredible run-up in the past one year makes the stock look like it's already running ahead of itself; but from a business activity standpoint, Caterpillar's real turnaround is ahead, not behind. Analysts expect the company to grow its earnings per share (EPS) by almost 40% in the next five years. Because earnings will grow from a low current base, analysts' estimates may hit the nail if Trump's infrastructure spending plan takes off next year. Aecom is incredibly well poised to benefit from Trump's infrastructure program, for the simple reason that it specializes in providing architectural and engineering services, and building and operating infrastructure assets, for government agencies. In fiscal 2017, nearly 22% and 15% of Aecom's revenue worth $18 billion came from the U.S. federal government and the U.S. state and local governments, respectively. Aecom has been associated with major federal infrastructure projects, such as the new Second Avenue Subway project. Image source: Getty Images. FY 2017 was a record year for Aecom, with its revenue hitting an all-time high of $18.2 billion and backlog growing 11% to hit a record of $47.5 billion. While its 2014 URS acquisition is providing a major thrust to Aecom's top line, the company is confident of growing its organic revenue annually at 5% between 2018 and 2022. At the same time, Aecom expects to grow its adjusted EPS at 12%-15% and generate cumulative free cash flow worth more than $3.5 billion during the five-year period. Critics may considerAecom's goals as overly ambitious, but I don't see why the company shouldn't be able to deliver if infrastructure spending picks up in the U.S. In fact, Aecom is among the handful of companies that consistently generated greater FCF than net income in the past five years, which, I believe, is a sign of management efficiency and financial fortitude. In short, Aecom looks very compelling right now as an infrastructure play from every aspect, be it business, operational performance, or financial standing. With the tax reform bill already on the table, an infrastructure spending proposal is next on Trump's agenda. While projects may still take time to start, infrastructure companies like the ones discussed above are already getting busier, thanks to rising nonresidential construction spending. To add to the list of infrastructure stocks discussed here, you should also take look at a recent article where I picked mytop three building-material stocksthat are primed for strong returns once infrastructure spending picks up. Before you know, these stocks could get too hot to grab once Trump gets serious about rebuilding America's crumbling infrastructure. 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 Chamariahas no position in any of the stocks mentioned. The Motley Fool recommends Nucor. The Motley Fool has adisclosure policy. || Music streamers Spotify, Tencent invest in each other: Swedish music streaming service Spotify and Chinese internet company Tencent are purchasing minority stakes in each other as both companies prepare to go public. The companies said Friday in a joint statement they will acquire new shares representing minority equity stakes in each other for cash — Tencent Music Entertainment will invest in Spotify, while the Swedish music startup will take a stake in Tencent's music wing. Terms of the deal were not disclosed. The companies said it would be "strengthening relationships between the two most popular music streaming platforms in the world." Spotify CEO Daniel Ek said it "will allow both companies to benefit from the global growth of music streaming." The CEO of Tencent Music Entertainment Group, Cussion Pang, said the companies will look to collaborate and "foster a vibrant music ecosystem that benefits users, artists and content owners." Despite its successes, Spotify operated at a loss of $389 million in 2016, according to its financial disclosure. However, it is projected to draw a valuation of up to $20 billion when it goes public. Spotify is expected to file its IPO next year. Meanwhile, Tencent Music drew a valuation of roughly $6 billion last year, according to the Financial Times. It is also expected to go public next year. Shenzhen-based Tencent is one of China's most powerful internet companies, running the WeChat messaging app as well as online payment platforms and games. Because Chinese authorities have largely shut out western companies like Google, Twitter and Facebook, homegrown internet companies like Tencent have been able to grow rapidly in size. Spotify, meanwhile, has no users in China. According to the company, Spotify as of July had over 60 million subscribers and 140 million active users who can access to over 30 million songs. The Associated Press contributed to this report. Related Articles • More private university chiefs top $2M as pay keeps climbing • Bitcoin futures trade on Cboe for first time • 'Coco' tops box office again before 'Star Wars' hits || Bitcoin's Price Swings Have Been Especially Crazy in the Last 24 Hours. Here's Why: The last day’s fluctuations in the bitcoin price have been pretty crazy, even by the cryptocurrency’s typically volatile standards. Having climbed more than $3,000 in a week to clear the $11,000 mark on Wednesday, reaching a high of $11,377, bitcoin suddenly plunged 20% to around $9,290 (prices varied on different exchanges). To spell out precisely how volatile we’re talking here, it lost $1,000 in value in the space of around 10 minutes. And then it recovered somewhat. At the time of writing on Thursday morning, the price of one bitcoin is bobbing up and down around $10,000. The fall seems to have coincided with outages and interruptions on major cryptocurrency exchanges, which may well be a function of the spike in trading volume—according to CoinMarketCap, the volume in the last 24 hours has been a stunning $10.5 billion. According to Coindesk , Coinbase’s GDAX exchange had a full-blown outage and there were disruptions on Bitstamp and Bitfinex, too. So, why the massive ups and downs? Bitcoin’s value was likely goosed by the reports that Nasdaq ndaq and Cantor Fitzgerald wanted to follow CME’s lead in trading bitcoin futures—yet another sign that more and more institutional money is pouring into the virtual currency. On the flipside, though, the IRS just got a court to back it up in its demand that Coinbase hand over details of thousands of accounts that have been high-volume bitcoin traders, so it can collect back-taxes for unreported transactions. It’s quite possible that investors simply saw bitcoin’s massive rise and decided to cash out. Vitor Constancio, the vice-president of the European Central Bank, warned on Wednesday that people should think twice about buying into bitcoin at this stage in the game. “It’s a very particular asset, it’s a speculative asset by definition looking to the developments in its price. Investors are taking that risk of buying at such high prices,” he told CNBC . || U.S. Stocks Plunge On Concerns Trump May Be Implicated in Russian Probe: U.S. financial markets went on a wild ride on Friday, driven initially by a delay in the vote on U.S. tax reform and later in the session by reports Michael Flynn may implicate President Donald Trump in the Mueller Russian investigation. In the early hours of Saturday morning, the Senate Republicans narrowly passed a bill to overhaul the American tax system. With a vote of 51 to 49, the GOP navigated Republican Party fractures to approve a plan that Senators were still scraping together in the hours before the vote. The vote brings Republicans closer to their promise of dramatically overhauling U.S. tax laws. However, the GOP still needs to overcome significant issues with the House of Representatives’ plan to craft a joint bill and send it to President Trump’s desk so that he can sign it into law before Christmas. On Friday, Lieutenant General Michael Flynn pleaded guilty to knowingly making materially false, fictitious and fraudulent statements to FBI agents, in a plea hearing in a Washington, D.C. federal court. Investors were worried that Flynn would testify that he was directed by the Trump administration to make contract with the Russia. Daily December E-mini S&P 500 Index U.S. Economic News Final Manufacturing PMI was 53.9, slightly above the 53.8 Forecast. The major ISM Manufacturing PMI report fell short of expectations with a reading of 58.2 versus a 58.4 reading. Construction Spending rose 1.4%, beating the 0.5% estimate. ISM Manufacturing prices came in at 65.5 and Total Vehicle Sales met expectations at 17.5 million. Dallas Fed President Robert Kaplan said the U.S. Federal Reserve should raise rates in December, due to high employment and upward inflation pressure. “We ought to be taking one more step in the near future in raising rates,” Kaplan said at an economic development conference. “I’ll be in favor of taking the next step in removing accommodation in the near future,” Kaplan added. Philadelphia Fed President Patrick Harker said, the Federal Reserve’s goals include promoting inclusive “economic opportunity” for Americans of all income levels. “Our mission is really about creating an environment that promotes economic growth that is sustainable in the long term and that provides economic opportunity for everyone, (which) means we want growth that is inclusive and accessible across all income groups and communities,” Harker said in prepared remarks to a conference on revitalizing cities. Daily December E-mini Dow Jones Industrial Average U.S. Equity Markets U.S. stock markets closed lower on Friday after ABC News reported that former national security adviser Michael Flynn was directed by President Trump to talk to Russians triggered a volatile reaction. ABC said later in an updated report that Flynn will say Trump asked him to make contact with Russia “initially as a way to work together to fight ISIS in Syria.” Story continues In a statement, Flynn said he agreed to “cooperate with the Special Counsel’s Office reflect a decision I made in the best interests of my family and of our country.” The Dow Jones Industrial Average briefly dropped 350.45 points on the news. The S&P 500 Index fell as much as 1.4 percent on an intraday basis and the NASDAQ Composite dropped as much as 1.99 percent at its session lows. This article was originally posted on FX Empire More From FXEMPIRE: Silver Price forecast for the week of December 4, 2017, Technical Analysis S&P 500 Index Price forecast for the week of December 4, 2017, Technical Analysis US Dollar Index (DX) Futures Technical Analysis – Friendly Over 92.93, Extremely Bearish Under 92.43 Bitcoin Gold DASH and Monero Price forecast for the week of December 4, 2017, Technical Analysis Crude Oil Price forecast for the week of December 4, 2017, Technical Analysis USD/CAD Price forecast for the week of December 4, 2017, Technical Analysis View comments || The bitcoin exchange Coinbase has been ordered to hand the IRS info on 14,355 of its highest-rolling customers: Associated Press/Susan Walsh • On Wednesday, a court ordered Coinbase to hand over information to the Internal Revenue Service (IRS) about users that made transactions over $20,000 between 2013 and 2015. • That request includes information on 14,355 Coinbase customers across 8.9 million transactions, according to the court order. • The order comes nearly a year after the IRS first requested records on all of Coinbase's transactions between 2013 and 2015 as part of its efforts to catch tax evaders. Just hours after wild fluctuations in bitcoin pricesput Coinbase's servers on the fritz, the cryptocurrency exchange is facing a new challenge: the US government. Coinbase must turn over information about thousands of its users to the Internal Revenue Service (IRS), a US district court ruled on Wednesday. As one of the leading exchanges for cryptocurrencies like bitcoin and ether, Coinbase has seen billions of dollars exchanged on its platform— some of which the IRS believes is not being accurately reported by taxpayers. The court order requires Coinbase to hand over info on all customers who made a transaction worth $20,000 or more between 2013 and 2015. Coinbase has estimated that this request would total 8.9 million transactions between 14,355 different account holders, according to the court order. Among the information requested are the names, birth dates, addresses, tax IDs, transaction logs and account invoices of the Coinbase users. That sounds like a lot of information but it's actually a major narrowing from the IRS's initial summons in November 2016, which sought informationabout every single transaction on the exchangeduring the period. Coinbase argued that this was an invasion of its customers' privacy. The company initially ignored the request, before the IRS filed a petition to enforce the summons in March of this year. A blog post from Coinbase Wednesdaycelebrated the ruling as a partial success, calling it an "unprecedented victory for the industry." "The government’s own lawyers noted at the hearing that the IRS is not accustomed to having to fight for records in this context, and most companies just turn records over without going to court," David Farmer, director of business operations at Coinbase, wrote in the blog. Farmer wrote that the final number of people whose records were ordered on Wednesday is 97% lower than when the IRS first requested information. Despite the celebration, Farmer suggested in the blog that Coinbase may not obey the request, or may challenge the order further."In the event that we ultimately produce the documents under this Court order, we intend to notify impacted users in advance of any disclosure," Farmer wrote. Wednesday's court order denied Coinbase's request for an "evidentiary hearing," which Coinbase could have used to argue that the IRS showed bad faith in requesting the documents it asked for. NOW WATCH:What happens to your brain and body if you use Adderall recreationally See Also: • Bitcoin just hit an all-time high — here's how you buy and sell it • People are freaking out over a video that appears to show an NFL player levitating, and it's 100% real • Here's everything you need to know about blockchains, the ground-breaking tech that could be as disruptive as the internet SEE ALSO:Bitcoin's price is collapsing and people can't trade because 2 big exchanges have crashed || The Market In 5 Minutes: Sprint And T-Mobile, Saudi Arabia, Twitter Upgrade: IN THE NEWS Benzinga T-Mobile (NASDAQ: TMUS ) and Sprint (NYSE: S ) jointly announced Saturday that they have ceased talks to merge as the companies were unable to find mutually agreeable terms: Link Papa John’s Int’l, Inc. (NASDAQ: PZZA ) attributed its mid-season sales slump to an alleged bad call — one that allowed controversial anthem protests to cripple NFL viewership and corresponding pizza deliveries: Link Blockchain — the technology used to record and store transaction in cryptocurrencies such as bitcoin — could get a dedicated exchange traded fund. Amplify ETFs has filed plans to introduce the Amplify Blockchain Leaders ETF: Link Wall Street Journal A sweeping weekend roundup of more than five dozen princes, ministers and prominent businessmen in Saudi Arabia marks a dramatic escalation in the crown prince’s effort to consolidate power and accelerate far-reaching change in the kingdom: Link President Donald Trump pushed for Japan to buy “massive” amounts of military equipment from the U.S., saying that it would help the country shoot down missiles like the pair that nearby North Korea has fired overhead in recent months: Link Reuters Indonesia on Monday vowed to block Facebook Inc’s (NASDAQ: FB ) WhatsApp Messenger within 48 hours if the service did not ensure that obscene Graphics Interchange Format (GIF) images were removed: Link Bloomberg The House tax-writing committee begins debate Monday on the GOP’s proposed overhaul, kicking off four frantic days for lobbyists and lawmakers to revise a bill that represents President Trump’s final hope for a signature legislative achievement this year: Link A Russian lawyer who met with President Trump’s oldest son last year says he indicated that a law targeting Russia could be re-examined if his father won the election and asked her for written evidence that illegal proceeds went to Hillary Clinton’s campaign: Link ECONOMIC DATA The Treasury is set to auction 3-and 6-month bills at 11:30 a.m. ET. New York Federal Reserve Bank President William Dudley will speak in New York at 12:10 p.m. ET. The TD Ameritrade Investor Movement Index for October is schedule for release at 12:30 p.m. ET. Story continues ANALYST RATINGS Citi upgraded Twitter (NYSE: TWTR ) from Sell to Neutral Raymond James upgraded Nutanix (NASDAQ: NTNX ) from Market Perform to Outperform Wells Fargo upgraded Hyatt Hotels (NYSE: H ) from Market Perform to Outperform Wells Fargo downgraded Hilton Worldwide Holdings (NYSE: HLT ) from Outperform to Market Perform KeyBanc downgraded Sprint from Sector Weigh to Underweight 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. See more from Benzinga The Market In 5 Minutes: Apple, iPhones, And Trump's Twitter The Market In 5 Minutes: Facebook, Tesla In The Red As Market Preps For Apple's Latest Earnings The Market In 5 Minutes: Bitcoin, Gold, Steel, And More © 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin not big enough to threaten world economy, BoE deputy says: LONDON (Reuters) - Bitcoin is not at a size where it would pose a risk to the global economy, Bank of England Deputy Governor Jon Cunliffe said on Wednesday, as the virtual currency soared to a record high above $10,000 on major exchange. The cryptocurrency has climbed 10-fold so far this year, the largest gain of all asset classes and prompting sceptics to warn it is a classic speculative bubble. "I would just say investors kind of need to do their homework," Cunliffe told BBC Radio. He said he did not think British households as a whole were going on a "debt-fuelled binge" but added that fast rates of consumer credit growth needed to be watched. Cunliffe was in the minority of officials to vote against a rise in interest rates that took place earlier this month. Asked why in a separate BBC radio interview, Cunliffe said that although he agreed with his colleagues that Britain's potential rate of economic growth had slowed since the financial crisis, he wanted to see more sign of inflation pressure. "My view was given the disappointments we've had about pay increases and domestic cost pressures over recent years, we should wait to see those before raising rates." (Reporting by Andy Bruce; Editing by Christian Schmollinger and Kim Coghill) || Dollar, stock futures gain on U.S. tax cut progress: By Swati Pandey SYDNEY (Reuters) - The U.S. dollar bounced to a two-week top on Monday as traders celebrated the passage of a Senate tax bill over the weekend, while stronger U.S. stock futures pointed to a merry start for Asian shares. The greenback jumped 0.7 percent <JPY=> in early Asian trade to as far as 112.98 yen, the highest since Nov. 17. It climbed 0.5 percent last week, a welcome reprieve to bulls after three straight sessions of losses. The U.S. Senate approved a tax overhaul on Saturday, moving Republicans and President Donald Trump a big step closer to their goal of slashing taxes for businesses and the rich. The move is likely to further boost corporate profits and lead to a slew of share buy-backs. U.S. stock markets have already rallied for months on hopes that Washington would provide significant tax cuts for corporations. Indeed, EMini S&P stock futures <ESc1> jumped 0.7 percent at the open on Monday, while Nikkei futures <NKc1> climbed more than 1 percent. "The chances of tax cuts being placed onto Trump's desk to sign through have increased markedly and we start this week with the process of reconciliation between both the House and Senate tax plan," said Chris Weston, Melbourne-based chief market strategist at IG. "One questions what could really derail sentiment as we head into the final month, and one that is traditionally a great breeding ground for equity appreciation." As risk-on trade gathers momentum, U.S. Treasury futures fell sharply, with the March contract slipping 14 ticks. <TYc1> Fed fund futures <0#FF:> dipped as the market priced in the risk of faster rate hikes from the Federal Reserve, given fiscal policy was set to be eased even while the economy was running at or near full employment. The early shift reversed moves on Friday when stocks and the dollar slipped and bonds gained amid worries about a probe into Russia's involvement in the U.S. election. Stocks tanked mid-session after an ABC News report that former national adviser Michael Flynn was prepared to testify that Donald Trump instructed him to make contact with Russians during the presidential campaign. The report was soon retracted with the ABC News clarifying that Trump's directive was issued after he was elected president, not before. Elsewhere, traders will focus attention on a meeting scheduled for British Prime Minister Theresa May and EU President Jean-Claude Juncker as they on a Brexit deal. The euro <EUR=> slipped 0.2 percent, while the British pound <GBP=> edged 0.1 percent higher on media reports that a deal was near on the terms of the Brexit divorce. Bitcoin <BTC=BTSP> jumped to an all-time high of $11,800 after the U.S. derivatives regulator allowed CME Group <CME.O> and CBOE Global Markets <CBOE.O> to list bitcoin futures. The cryptocurrency was last up 2.8 percent at $11,180 on the Luxembourg-based Bitstamp exchange. In commodities, oil was down a touch with Brent crude <LCOc1> off 5 cents at $63.68 a barrel. Spot gold <XAU=> eased 0.5 percent to 1,273.67. (Reporting by Swati Pandey; Editing by Eric Meijer) || Apple, Intel Sink DJIA Tuesday: December 26, 2017: Markets opened lower Tuesday following the three-day Christmas holiday weekend. The DJIA briefly turned higher, but traded for most of the day with a small loss. Energy was the leading sector but couldn't overcome weakness in tech and utilities. WTI crude oil for February delivery settled at $59.97 a barrel, up 2.6% for the day following a pipeline explosion in Libya. The is WTI's highest close in more than two years. February gold added 0.7% on the day to settle at $1,287.50. Equities were headed for a lower close shortly before the bell as the DJIA traded down 0.11% for the day, the S&P 500 traded down 0.18%, and the Nasdaq Composite traded down 0.41%. ALSO READ:Most Famous Band From Every State Bitcoin futures for January traded at $15,920, up about 12.6%, on the CME after opening at $13,900 this morning. Only 374 contracts had been traded in the session and open interest is just 489. The DJIA stock posting the largest daily percentage loss ahead of the close Tuesday was Apple Inc. (AAPL) which traded down 2.63% at $170.41. The stock's 52-week range is $114.76 to $177.20. Volume was nearly 10% above the daily average of around 26 million shares. said iPhone X sales would be down sharply from quarterly. Intel Corp. (INTC) traded down 1.50% at $46.00. The stock's 52-week range is $33.23 to $47.64. Volume was less than half the daily average of around 29 million. The had no specific news. ALSO READ:The Most Expensive Restaurant in Every State DowDuPont Inc. (DWDP) traded down 1.03% at $71.37. The stock's 52-week range is $56.52 to $73.85. Volume was down more than 70% from the daily average of around 7.3 million shares. The company had no specific news. The Goldman Sachs Group Inc. (GS) traded down 0.60% at $257.41. The stock's 52-week range is $209.62 to $262.14. Volume was about a 60% below the daily average of around 2.7 million shares. The investment bank had no specific news. Of the Dow stocks, 13 are on track to close higher Tuesday and 17 are set to close lower. Related Articles • 25 Richest Members of Congress • 30 American Ghost Towns • 25 Best Netflix Original Shows || E-Trade Financial Launches CME Bitcoin Futures Trading: E-Trade Financial Corporation has opened trading in bitcoin futures from CME Group. According to itswebsite, the online stock brokerage firm – which launched the trading of CBOE bitcoin futures last month – opened up trading of bitcoin futures from CME Group for customers as of Tuesday evening. The intraday initial margin requirement for the CME bitcoin futures ("BTC") has been set at 80 percent, that same as is required for CBOE futures ("XBT"). The New York-based online brokerage first allowed customers to trade bitcoin futures from CBOE Global Markets on Dec. 20. The U.S. Commodity Futures Trading Commission (CFTC) approved both CBOE and CME to list bitcoin futures on Dec. 1. The regulatorsaidat the time that the companies will pursue a self-certified initial listing, after working with the agency to set a standard for the offerings. TD Ameritrade Holding Corp. and Ally Financial Inc.'s Ally Invest have also opened up CBOE bitcoin contracts to investors. Interactive Brokers Group also opened trading in products from both exchanges in December, a CNBCreportstates. Disclosure:CME Group is an investor in Digital Currency Group, CoinDesk's parent company. Trading chartimage via Shutterstock • ICE Exchange Unit Seeks to List Bitcoin Futures ETFs • CME Bitcoin Futures Price Above $20k in First Day Trading • Bitcoin Futures Codes: How to Read Them And What They Mean • Hong Kong Regulator Issues Warning on Bitcoin Futures [Random Sample of Social Media Buzz (last 60 days)] くっそ～～～～～～！！！ ロン。18000点です。（真顔） してやるからなぁ～～～～～～～～！！！ｗｗｗ || Tiffany Haddishちゃんが || Current price of @Bitcoin is $10490.00, Easy way to buy $btc in Msia. Use invite B3BS6 & earn free $btc http://ift.tt/2zyW9js  || New post: "Lightning on mainnet! demo video - with eclair, c-lightning and lnd "http://ift.tt/2nHFBox  || Coinbase Reaches Top of the Free App Charts on the US App Store Amid Bitcoin Surge http://ift.tt/2Bipu6Q  || One Bitcoin now worth $7569.07@bitstamp. High $7590.00. Low $7275.16. Market Cap $126.130 Billion #bitcoin || こんばんは。 bitcoin priceという || こんばんは。 bitcoin priceという || こんばんは。 bitcoin priceという || Tiffany Haddishちゃんが
Trend: down || Prices: 15599.20, 17429.50, 17527.00, 16477.60, 15170.10, 14595.40, 14973.30, 13405.80, 13980.60, 14360.20
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 2019-11-05] BTC Price: 9342.53, BTC RSI: 59.38 Gold Price: 1480.80, Gold RSI: 43.73 Oil Price: 57.23, Oil RSI: 59.88 [Random Sample of News (last 60 days)] Wells Fargo tests cryptocurrency for internal transactions: By Imani Moise (Reuters) - Wells Fargo & Co <WFC.N> said on Tuesday it will pilot its own digital currency powered by blockchain to help move cash across borders and between branches in real time. The currency, called Wells Fargo Digital Cash, will be linked to the U.S. dollar and transferred using the bank's distributed ledger technology to keep track of payments within its internal network. The system will allow the bank to bypass third parties in the asset transfer process saving costs and time, said Lisa Frazier, head of the Innovation Group at Wells Fargo. "We are eliminating the intermediaries which can often extend the timeline to be able to do cross border money transfers," she said. The fourth largest U.S. bank's corporate clients will not have to make any changes to the way they interact with the bank since the currency will not be client-facing. The pilot will begin next year but the bank has tested the technology by moving money between Canada and the United States. Following the broader roll-out the company hopes to expand to multi-currency transfers. Though Wells Fargo executives have been bullish on the potential for blockchain technology in financial services, the company has been more skeptical of cryptocurrencies like bitcoin which launched the system into the spotlight. Last year, Wells Fargo joined U.S. rivals in banning the purchase of Bitcoin by credit-card customers, due to the volatility of the investment. Blockchain technology has attracted billions of dollars in investments from banks and other companies, but concerns about implementation and scalability has hindered many blockchain projects so far. Early roadblocks have not stopped banks from experimenting aggressively in the space. In February, JPMorgan Chase & Co <JPM.N> launched its own digital currency, also linked to the U.S. dollar, that allows its corporate clients to transfer funds instantly across its internal blockchain network. (Reporting by Imani Moise; Editing by Lisa Shumaker) || Wealth/Stack 2019: Live Blog: [Editor's Note: Time stamps are in PT] That's the end of his talk, and the end of our live blog of Wealth/Stack 2019. Thanks for following along in real time, and we'll see you next time! 10:31 AM: "I don't think we need subscriptions to solve this NP problem," he says. "I think we need the Amazon Prime model." With Amazon Prime, you don't get anything for it day one. But the more you use it, the more you discover from it: videos, free shipping, and so on. This is how Nadig thinks that financial advice is going to go. 10:28 AM: He brings up Grove, which has been bought by Wealthfront. Grove sent funds to Facet Wealth that tries to provide the family office experience. Very few of these services have anything to do with AUM. And the question becomes, how do you get paid? The answer is subscription fees, like Netflix, Peloton  or Schwab. But these people aren't helping clients understand whether or not they should convert their house into an AirBNB. "It's a band-aid" over these automated services. 10:25 AM: Here are the more interesting things he's hearing from advisors. Home ownership: the trend is away from home ownership. AirBNB is changing the home equity market and real estate income management. "That's an NP problem," he says. Education is another. Not saving for education, per se, but, where do you go, how do you decide that, whether they should get a degree at all, because of student loans and how they fit within the potential unemployment spectrum? Others: having babies, taxes, buying cars, insurance, bill payments, etc. "Family office stuff," he says. "But it's not ." 10:22 AM: You can do a lot of work on trying to think about behavioral finance, but you're still doing the math wrong, says Nadig, because you're trying to think about process and systems. One size does not fit all. He brings up direct indexing, which creates "an illusion of being super tailored for the individual," he says. But this is not the interesting things he's hearing from advisors. Story continues 10:19 AM: Now Nadig is taking a digression into math and the P=NP problem. There are math problems that are reasonable to execute and are easy to scale (P); and there are math problems that are hard to execute and brutally complex when scaled (NP). Investing and advice are P and NP problems. Investing is easy to scale, easy to execute. Advice is not. "People are messy, human creatures," he says. It's hard to scale advice, hard to scale execution. It's an NP problem. He puts up a quote about the advisory business: "This would be so much easier without the clients." 10:14 AM: So the industry's reaction to all this? The fee wars. But it's boring. "If I see this on one more conference agenda, I'm going to become a farmer," he says. "Again: solved problem." What this leads to is a panic among active managers. Even the biggest active managers don't want to be in the investment management business anymore. Robo advisors are coming in and democratizing asset management and making it super-cheap as well. "If you're a stock jockey," says Nadig. "Get out of the business." The business that's going to make you money, he says, is advice. 10:11 AM: "Active management is a fad that has run its course," he adds. Active managers don't beat their bogeys. And investors have overwhelmingly chosen passive products. Smart beta hasn't moved the needle much. It's hard to find "growth-y" growth funds that aren't just momentum funds in disguise; value-y value ETFs are easier to find, but still tough. So you end up with "bizarre benchmark-hugging funds." He puts up a chart of MTUM and USMV: The returns year to date are almost entirely the same. "Investors aren't that dumb," he adds. "They aren't putting a ton of money into these products." 10:07 AM: Welcome back for our final live-blogged session of Wealth/Stack 2019: "The Next-Gen Advisor: Why Investing Is Boring And Advice Is Sexy," a talk given by our very own Dave Nadig. He admits he rewrote his entire speech last night, because he heard so many great ideas at the conference. But the first thing he says: "Investing is pretty dull. It's fundamentally a solved problem." He mentions we have a bunch of products that solve problems, a functioning regulatory regime and so on. 5:26 PM: Audience question: What's the likelihood of a real deal done with China? Arone says a real deal will get done, but that the time horizon will be a lot longer than anybody expected. Both sides have an incentive to strike a deal. 5:23 PM: First question from the audience: What impact has QE had on our current environment? Boockvar says that QE has failed in the objective of creating economic activity, as opposed to just creating a wealth effect. It didn't do much for people who didn't own those assets already. Arone adds that QE has already caught up with us. All the policies that are designed to spur inflation aren't working: "I don't think there's a path back, fiscal or monetary policy, to the good ole days of 4%." 5:20 PM: Next question: Are there particularly difficult questions clients are asking you? Arone says clients are very curious about the presidential election and how it's going to impact the economy. Its impact about portfolios will be minimal, he says, but people are still asking. Boockvar brings up the negative rate environment. "In 4,000 years, we've never had it," he said. "There's no playbook for it. It's difficult to see what the ripple effects of them are." Arone says that the argument was that we would see breakaway inflation. We have seen that inflation, he says; we've seen that across all assets, everywhere. 5:17 PM: Boockvar says Thursday's ECB meeting will be "hugely crucial." He says that Europe and Japan have realized the damage that quantitative easing has done to their economies. The question now is whether the hawks or Drahgi win out. The transition out of negative rates will be a massive shift, he adds. It could be "consequential" for the world's bond markets. 5:13 PM: Massa asks: What's your most contrarian macro outlook? Boockvar answers, "emerging Asia"; meaning, not just China, but also Singapore and India and other parts of the emerging parts of the region. Arone answers, "U.S. financials." They're massively unloved, he says, but they're trading at a massive discount to the market, but their earnings and operations are looking pretty good. Saccocia answers, "the U.S. housing market." She calls out single-family rentals, and adds that the housing stock in the U.S. has been underbuilt since the financial crisis. 5:10 PM: Massa asks, "What levers are left to pull on the fiscal stimulus side?" Saccocia says there are very few. Fiscal stimulus has historically been what has pulled us out of recession. An infrastructure bill would be the most popular way, but it's unlikely to pass before the election, she says. "It's going to be difficult for us to count on the U.S. government to pull us out of a recession," she adds. 5:05 PM : Moderator Annie Massa asks: What advice should you give a client who's worried about a bear market, besides stay invested? Saccocia answers first: "We try to think about short-term impacts that could curtail long-term plans," she says, and that people should think about adding liquidity into the portfolio in a limited fashion to address those impacts. Boockvar agrees. "Try to have a year or so of liquidity set aside," so regardless of whatever tweet there is, your short-term needs will be met. He also cautions to tilt toward investments that are more cheaply valued. "Be prepared psychologically to deal with the downturn," he says. Arone says his view is that, in bear markets, quality typically does pretty well as does low volatility. If you're concerned about that, think about moving up in quality in both your equity and fixed income portfolios. 5:00 PM: The topic shifts to the Hong Kong political situation and whether it'll play into the trade war. Saccocia says that her concern is that with the continued tension we see in Hong Kong coincident with the discussions of trade agreements, it would paint us in a bad light if we celebrate a resolution of the trade war while an authoritarian government takes over what used to be a sovereign land. The topic shifts to politics and the presidential election next year. Arone believes that Trump is likely to be reelected, especially if he's facing a progressive Democrat. Boockvar brings up the Senate. If the Republicans keep the Senate, while Democrats get the House, then the change won't be so radical. But if the Democrats take Congress and the White House, that will be a big change. 4:55 PM: Our last live blog panel of the day is "The 2020 Macro Panel: How To Read The Tea Leaves" with Michael Arone, Peter Boockvar and Shannon Saccocia. The first question pertains to the Fed. Boockvar says that he believes the Fed is full of very smart people, but that when they decide to raise or lower rates, it has more to do with how the economy is doing than anything else. Arone says "lowering interest rates are like potato chips; you can't just have one." He sees more interest rate lowerings on the horizon, likely because of global fundamentals. The Fed is trying to protect the U.S. right now from "forces outside the U.S. sneezing and the U.S. catching a cold." 12:10 PM: Nadig asks the final question, "Is private equity in a bubble?" Lindzon answers that we have a bubble, but it's for rich people; the retail investor hasn't paid the price. Housel says that the big loser is the employees of the firm. The private investor will get their money back, but the employees are the ones who are hurt when the bubble crashes. Lindzon brings up a category called "pre-wealth," that helps employees get equity inside their own unicorns. We're going to see movement to help workers get some liquidity in the five or 10 years before the company goes public. 12:05 PM: Question from the audience: How do we differentiate between tech that's truly awful vs. truly groundbreaking? Housel says, "Hindsight." If you think of it in VC terms, you're going to make the vast majority of your returns on a small minority of your holdings.  The vast majority of them are going to fail. If you have to deal with clients under $100,000, and you're not recommending a robo, you should be, says Lindzon: "Help them move up the food chain." 12:00 PM: The topic shifts to "the true use" of AI to replace investment management. "How much of it is real and how much of it is what quants have been doing all this time?" asks Nadig. A lot of times there's not a lot of firm definitions on what AI means, says Housel, "so it's just a marketing term." Shriner adds that we don't have the data infrastructure in place to actually use AI. Until we can get disparate systems talking to each other, talking about using AI is mostly just marketing. Lindzon says AI is mostly ridiculous, but what isn't ridiculous is relationships and trust. So you have a choice: "You can either be not online, totally, or be completely online." The point of this business is trust, he adds. "I think the next stage of advisement is helping your clients do these new, innovative things." 11:55 AM: Nadig asks about how you think about valuations of new technologies. Shriner says it depends on the type of tech you're talking about and the time over which you're talking it. He brings up crypto. You don't have a lot of use cases on bitcoin, says Housel, so how do you value it effectively? "I think valuations are crazy," says Lindzon. He brings up first-mover advantage for Uber, Robinhood, which has helped them but "just because you're first to market doesn't mean you're going to win." He cautions new investors to welcome large seed money, but not to chase these sorts of deals. Housel adds that "the increase in capital is out of control" for private equity markets. The little VC funds are desperate for deals; they just want to write a check. So they end up with valuations that don't always make sense. 11:50 AM: "We're reimagining UI, reimagining business model and trust," says Lindzon about how technology is changing the advice industry. "I don't trust Jamie Dimon," he says, adding that he trusts FinTwit folks more. "I think the investment advisor business is the best business to be in in the next 30 years. I think we're building an investment generation." "Where do you think the man/machine interface is?" Nadig asks Shriner. Shriner answers, "Most people lean heavily toward machine: they can 'solve that' with an algorithm." Workflow is something that can be automated, agrees Lindzon. "That sounds boring," says Nadig. "What's wrong with boring?" says Lindzon. 11 : 45 AM: Back to the live blog, now with "Radical Future: What The Smart Money Is Betting On," moderated by Dave Nadig and featuring Morgan Housel, Tripp Shriner and Howard Lindzon. Housel starts off by saying, "The first generation of technology sucks." But then it gets better and disrupts, and there's a rebellion against it from the people whose livelihood it disrupts. "The only tech that people ever jumped on board for immediately was the polio vaccine." "That's true with the biggest innovation in the financial industry in the past 50 years: the index fund," he adds, saying that, "of course if you're a portfolio manager, you're going to push back against that." 8:50 AM: Last question. Time for the panelists' ETF predictions for the next 12 months. Rosenbluth says he believes active equity ETFs will be the big gainers. Johnson says the overwhelming majority of flows will go into low-cost, boring, cap-weighted funds. Balchunas says you'll see more ETF closures than launches. Kashner says we'll see more downside protection products come to market. Hougan says we'll see a meltdown in the active fixed income mutual fund market. Nadig says we'll see increased focus on corporate governance from investors. 8:50 AM: Lydon brings up the Michael Burry's allegation that passive investing is destroying price discovery and thus the markets. "Literally every data point he points to is wrong," says Nadig. He brings up the fact that correlations are not collapsing; more price discovery is happening than ever before. Balchunas adds that there's a perception that passive investors are "weak hands" who will flee the market the moment it wobbles. That's just not true, he says. "I've yet to see evidence that index investors are the first ones to panic and head for the hills." 8:47 AM: Hougan says bitcoin has stabilized. Rosenbluth's eyes pop. "Did you say stabilize? Bitcoin?" Hougan says that volatility has gone down significantly over the past several months. Bitcoin "feels like very expensive therapy," says Kashner. 8:45 AM: Now the topic moves to bitcoin ETFs. A lot of the hurdles preventing an ETF's approval have gone away, says Hougan. He demurs on predictions, but "I will say we're much, much closer." He also brings up that institutional money is still flowing into digital assets, through non-ETF products. "A couple hundred million dollars a week are going into these other channels." "I think every advisor out there has a client who has asked them about crypto," he adds. "And they want to have an answer on hand." 8:40 AM: The topic shifts to non-transparent active ETFs. "I think this is a solution in search of a problem, and one that ETF investors don't face," says Johnson. This is for active managers who don't want to give away their proprietary strategy, he says. "Frankly, they're flattering themselves if anybody cares." In ETFs, active managers can only invest in so many things, he says. "Why would you want to get active management with handcuffs on?" Also, active managers when they enter ETFs forfeit their ability to close their fund. "It's easy to look at a room full of advisors and investors and ask who is this product for?" says Nadig. "But this structure is for institutions who still have enormous allocations to actively managed mutual funds who desperately want to manage their liquidity." "It's easy for us to forget there is more money in active equity mutual funds than in passive funds," adds Rosenbluth. "They would love to keep the same product they already have, except they'll pay less and have it in an easier way." 8:33 AM: Thematic investing is really picking up, says Rosenbluth. Instead of having to choose between Amazon.com and Pets.com, advisors can just buy a diversified basket of stocks. Thematic investing has always been popular, says Johnson. "The ETF graveyard is littered with shiny ideas." He brings up the shipping ETF, the whisky ETF. "Just know the risks of what you're getting into." "I think of thematic ETFs as behavioral release valve for your clients," says Hougan. "This gives them a relatively safe way to not blow themselves up, but still give them a way to participate in interesting corners of the market." 8:28 AM: The topic switches to ESG. Kashner says that in this space, there are clear signs of investor interest and the fee war. She brings up Ilmarinen's seeding of the SUSL and USSG earlier the year. Lydon asks, "Will there ever be demand?" The panel laughs. "There is demand," says Rosenbluth. Nadig brings up the fact that $13 trillion of institutional dollars are tied to ESG mandates. He says we're going to see growth in bespoke institutional ETF products, like SUSL and USSG, and in retail interest in ESG-wrappered products. Hougan says he's surprised that we haven't seen any reskinning of traditional ETFs with an ESG overlay, as Larry Fink hinted at in his shareholder letter last year. 8:23 AM: "The better question is, 'Should advisors be buying the AGG?'" says Balchunas. It's incredibly easy to beat the AGG, he adds. Johnson says you have to remember why people buy bonds: to diversify equity risk. "Should you use your bond portfolio for alpha generation?" Kashner agrees: "Maybe performance-chasing in the bond market isn't the best idea." 8:20 AM: The topic shifts to fixed income, and whether it's OK that investors are 'splitting out' the AGG. "It's important not to lose sight of the fact that in fixed income markets, you still see solid performance," says Johnson. "The other piece is, too, fixed income managers can only pull so many levers (credit and duration) and to the extent you can pull those on your own, it becomes a decision of active discretion. Do you want to outsource that active discretion to a manager? Or do you want to own it?" We're also seeing higher use of fixed income ETFs among active managers, too, he adds. "I think this has been horrible for most advisors," disagrees Nadig. "The ETF market got this exactly wrong. The best thing you could do over the past 18 months is move to the absolute farthest duration possible. But investors did the exact opposite; they moved to the shortest space. It's been an absolute bloodbath." 8:15 AM: "The fee war is as real in the smart beta space as anywhere else," adds Kashner. "Smart beta might actually be smart, if you paid only 3 basis points for it." "That makes it no different than active management, though," says Johnson. "It never was," says Kashner. "Smart beta has become synonymous with defense," adds Nadig. "We have seen some growth in that space, but it's been entirely in the defensive sector, products that are explicitly saying we'll keep you out of trouble in rocky markets." 8:13 AM: Hougan predicts that the money going into USMV will flee once the market shifts, because people don't realize that they're also equally exposed to momentum with that product. Smart beta flows in general have been anemic this year. Nadig pops in to say the shift isn't into beta products, per se. It's into low cost. "There has been a huge change in investor behavior; it's just into 3, 4 basis point products." 8:10 AM: "ETFs are a swiss army knife," says Johnson. "They've grown because they've benefited from the substitution effect away from individual securities." But ETFs have also benefited from securities lending activity, he says, where create-to-lend activity exists to satisfy short interest, not long. "Trying to divine anything about investor sentiment based on ETF flows is awfully difficult." 8:00 AM: We're back! First up: "The Battle Of The ETF Pundits," featuring Matt Hougan, Ben Johnson, Eric Balchunas, Elisabeth Kashner, Todd Rosenbluth, and our very own Dave Nadig. Moderator is Tom Lydon. The first question goes to Kashner about setting the scene for ETFs in 2019. Most flows have gone into broad-based, low cost beta ETFs, she says, but she also mentions USMV, a factor ETF that FactSet's research has shown actually meets its low vol objective. "I'm not a fan of smart beta, but we ran the numbers, and it works," she says. "Flows have actually gone to a product that works!" 5:00 PM: Questions from the audience. "How do you view the counterpoint of risk and luck when solving the retirement income problem?" Schrager explains how timing is everything when it comes to retirement. "You want to lock in those lucky times," she says. When you meet your goals, take the risk off the table and put it into a fixed income portfolio, then maybe put in some discretionary market in the markets, if you want to. "Is there a field you haven't researched, but would like to?" Schrager answers that there's a bunch. "Once you heard how this community manages their risk, then you just want to know how they all do it." 4:55 PM: Now Schrager is talking about horse breeding, and how the industry is going about it all wrong. "You're definitely not going to be able to engineer the next Secretariat," says Schrager. "But you can on average create a horse that will win more often." As she tells an anecdote about horse breeding "teasers," the room is in stitches. 4:50 PM: More on risk: "We've set people up to think in terms about wealth, instead of income," says Schrager. "If you know how much you need in retirement, and you've met that, then there's no need to stay in risky markets beyond that." She talks about fixed income investing, and how when investors retire, they should move their portfolios into longer-duration instruments instead of short-duration Treasuries, for example, so that they're less exposed to interest rate risk. 4:45 PM: Now the conversation has moved to risk. "There's a lot of evidence that people who take a lot of risks get good at it," says Schrager about professional poker players. "He just sees risk everywhere," says Schrager about Richard Burton, who read her dissertation and with whom she later worked. "When you start seeing risk everywhere, it really changes your world view." 4:30 PM: First up: "An Economist Walks Into A Brothel..." where Ritholtz's Blair DuQuesnay interviews author and economist Allison Schrager. Schrager first discusses her economic research on brothels, including financial literacy and lessons on negotiation skills with the employees there. 4:00 PM: Welcome to the ETF.com live blog of the first Wealth/Stack conference! The "by advisors, for advisors" conference, organized by mega-RIA Ritholtz Wealth Management, aims to bridge the gap between technology, investment management and practice management. Over the next 2 1/2 days, we'll be reporting live from the event, bringing you practical tips and the latest insights from some of the smartest minds in the advisory business. Our coverage starts later today with the 4:30 p.m. PT panel, "An Economist Walks Into A Brothel ..." Keep checking back for more! Recommended Stories Hot Reads: These 5 Active ETFs Worth A Look ETF Prime Podcast: Best & Worst ETF Returns ETF Eulogy For iNAV Hot Reads: 4 Emerging Market Strategies Permalink | © Copyright 2019 ETF.com. All rights reserved || Lock BTC, Get DAI: Lending Firm Bridges Bitcoin-DeFi Divide in Latin America: Canadian startup Ledn, which offers bitcoin-backed fiat loans, now also offers dollar-pegged DAI loans, connecting bitcoin users with ethereum’s decentralized finance (DeFi) ecosystem. Ledn co-founder Mauricio Di Bartolomeo, a Venezuelan expat, told CoinDesk this new partnership with stablecoin promoter MakerDAO was driven by customer demand. Out of “thousands” of users, more than half of Ledn’s users are in Latin America, Di Bartolomeo said, where ethereum-backedDAIis increasingly seen as an alternative to strictly regulated dollar transfers. In fact, this past weekend thecentral bank of Argentinarestricted civilians to buying only $200 in USD per month, down from the previous $10,000. Related:Key Indicator Turns Bullish as Bitcoin Struggles to Break Above $10K “In Argentina, if you receive a bank transference in USD they convert it immediately to ARS (Argentinian Nuevo peso), and you lose money,” Nadia Alvarez, MakerDAO’s head of business development in Latin America, told CoinDesk. “We know BTC hodlers don’t want to sell their BTC, but they need liquidity, for their daily expenses. That is why we think this is relevant for Latin America.” Ledn isn’t the first company to notice that bitcoiners are eager for access to the ethereum community’s experimental loan products. Silicon Valley startups in theCross-Chain Working Groupare also working on a different solution to allow wrapped bitcoin tokens directly on the ethereum blockchain. Plus, later this month Maker token holders, who govern the stablecoin ecosystem, will vote on whether to include bitcoin among theupcoming multi-collateral version of DAI. (Currently, DAI tokens are only made by locking up ether tokens in smart contracts that monitor ether prices andautomatically liquidate the ether collateralif the price plummets.) In the meantime, Ledn will buy ethereum-backed DAI from over-the-counter traders and manage bitcoin custody for loan clients. Di Bartolomeo said clients across Latin American have reported banking issues comparable to Argentina, although unique for each context, which is why they are turning to DAI. He added Colombians make up 16 percent of Ledn’s user base, the largest demographic in Latin America, followed by Venezuelans at 12 percent. Related:How Lebanon’s Economic Crisis Highlights Bitcoin’s Limitations “Several users have expressed that they would like to use stablecoins like DAI to purchase additional digital assets and others to access more financial services,” he said. Ledn users will soon be able to lock up their bitcoin and spend DAI at 750 merchants across Colombia, Venezuela, Argentina and Brazil, according to MakerDAO’s Alvarez. Separate from the loan startup, MakerDAO is partnering with product-providerPundi X, and planning to install point-of-sale devices across Latin America so that DAI users can spend crypto directly on goods and services. In addition, brick-and-mortar locations will enable a user in Argentina to send fiat or DAI to Venezuela, for example, with Pundi X’s debit card–esque Xcard. “The [Ledn] DAI loan gives bitcoiners the opportunity to enter into the DeFi world, and all the projects inside the ecosystem,” Alvarez said. Di Bartolomeo told CoinDesk he’s excited to work with MakerDAO precisely because they have “boots on the ground” where his customer base lives. Dozens of people have attendedDAI meetupsin Mexico City, Bogota and Buenos Aires over the past year. Globally, MakerDAO records currently show more than60,000 DAI wallet addressesin October 2019. “While we don’t yet explicitly hear from our users that they are spending DAI for their day-to-day expenses like they do with dollars,” Di Bartolomeo said, “we expect stablecoin adoption to increase in the region because they solve important problems for users.” Disclosure:CoinDesk contributor Diana Aguilar is Ledn’s digital content director. She was not involved in the production of this story. Team photo via Ledn. Pictured (left to right): Anton Livaja, Adam Reeds, Mina Botrous, David Gamez, Carlos Ng, Mauricio Di Bartolomeo • Bitcoin’s Four-Month Bear Trend Intact Even After 16% Price Rise • Bitcoin Leads Momentum as Top Cryptos Trade Below Key Price Average || Bitcoin May Rise Toward $8,800, Short-Term Cross Indicates: • Bitcoin is looking north, with the hourly chart reporting a golden cross. • Key resistance at $8,820 could be put to test over the next few days. • On the downside. $7,800 is the level to beat for the bears. A widely tracked short-term bitcoin price indicator has turned bullish, strengthening the case for a test of key resistance above $8,800. The cryptocurrency’s 50-hour moving average (MA) has crossed above the 200-hour MA, confirming what is popularly known as “golden cross” – a bullish indicator. MA studies are based on backward-looking data and tend to lag prices. A golden cross, therefore, is widely considered as a lagging indicator, especially when it appears on longer duration charts. However, the crossovers on the hourly and other short duration charts follow prices more closely and are thus more reliable as trend indicators. Related:Casa Is Helping Bitcoin Investors Pass on Their Holdings When They Die For instance, BTC drew bids and rose from $8,150 to $8,820, extending the recovery from $7,800 following the Oct. 9 golden cross on the hourly chart. On similar lines, the latest bull cross may accelerate the ongoing recovery rally, pushing prices higher to $8,820 – a bearish lower high created on Oct. 11. As of writing, BTC is changing hands at $8,280, representing a 0.53 percent gain on a 24-hour basis. Related:Flaws in LocalBitcoins Data Call Into Question Regional Adoption Claims As discussed, the 50- and 200-hour MAs have produced a golden cross, bolstering the bullish setup, as indicated by the inverse head-and-shoulders breakout. The chart is also showing a bull flag breakout – a continuation pattern which accelerates the preceding rally. The flag breakout has opened the doors for $8,700 (target as per the measured move method). The bullish case is supported by an above-50 reading on the relative strength index (RSI). Bitcoin’s repeated defense of $7,850 – the 38.2 percent Fibonacci retracement of the rally from December 2018 low to June 2019 high – indicates seller exhaustion. A similar message is being sent by the MACD histogram’s higher lows below the zero line. Bitcoin is closing on the 21-day exponential moving average (EMA), which proved a tough nut to crack on Sunday and Monday. The level previously capped upside on Oct. 9 and Oct. 10. Further, the cryptocurrency’s inability to hold above that average on Oct. 11 was followed by a drop to $7,800. This time roun, the stiff resistance, currently at $8,318, looks likely be breached, with the hourly chart reporting a bullish setup amid signs of seller exhaustion on the three-day chart. All-in-all, BTC looks set to challenge the bearish lower high of $8,820. A UTC close above that level is needed to confirm a bearish-to-bullish trend change, as discussed yesterday. Disclosure: The author holds no cryptocurrency assets at the time of writing. Bitcoinimage via Shutterstock; charts byTrading View • Fiat-to-Crypto ‘Carry Trade’ May Tempt Traders Tired of Negative Interest Rates • Opera Browser Adds Bitcoin Payments to Android Update || Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 07/10/19: Bitcoin Cash – ABC – Back at sub-$220 Bitcoin Cash ABC fell by 0.97% on Sunday. Following on from a 0.04% decline on Saturday, Bitcoin Cash ABC ended the week up by 0.98% to $219.93. A bearish morning saw Bitcoin Cash ABC slide from an early morning high $222.09 to a late morning low $218.00. Falling short of the major resistance levels, Bitcoin Cash ABC fell through the first major support level at $219.68. Finding support in the early afternoon, Bitcoin Cash ABC bounced back to an early afternoon intraday high $222.51. Falling short of the first major resistance level at $222.96, Bitcoin Cash ABC slid back to a late afternoon intraday low $216. Bitcoin Cash ABC fell through the first major support level at $219.68 and the second major support level at $217.71. Finding support late on, Bitcoin Cash ABC managed to break back through the major support levels to limit the downside on the day. At the time of writing, Bitcoin Cash ABC was down by 0.43% to $218.99. A mixed start to the day saw Bitcoin Cash ABC rise to an early morning high $219.99 before falling to a low $218.99. Bitcoin Cash ABC left the major support and resistance levels untested early on. For the day ahead, Bitcoin Cash ABC would need to move back through to $219.50 levels to support a run at $220 levels. Bitcoin Cash ABC would need the support of the broader market, however, to take a run at the first major resistance level at $222.96. Barring a broad-based crypto rally, the first major resistance level and Sunday’s high $222.51 would likely cap any upside. Failure to move through to $219.50 levels could see Bitcoin Cash ABC slide deeper into the red. A fall through to $217 levels would bring the first major support level at $216.45 into play. Barring an extended sell-off through the day, however, Bitcoin Cash ABC should steer clear of sub-$216 support levels. Litecoin Back at $54 Levels Litecoin slid by 4.17% on Sunday. Reversing a 0.69% gain from Saturday, Litecoin ended the week up by 1.08% at $54.48. Story continues Bearish through the day, Litecoin tumbled from a start of a day intraday high $56.96 to a late afternoon intraday low $53.03. Litecoin fell through the day’s major support levels before finding support from the broader market late in the day. A partial recovery saw Litecoin break back through the third major support level at $53.12 to reduce the loss on the day. At the time of writing, Litecoin was down by 0.62% to $54.14. A bearish start to the day saw Litecoin fall from an early morning high $54.50 to a low $53.35 before finding support. In spite of the early sell-off, Litecoin steered clear of the major support levels early on. For the day ahead, a move through to $54.80 levels would support a run at the first major resistance level at $56.62. Support from the broader market would be needed, however, for Litecoin to break out from $55 levels. Barring a broad-based crypto rebound, Litecoin would likely come up short of $57 levels for a 2 nd consecutive day. Failure to move through to $54.80 levels could see Litecoin spend a 2 nd consecutive day in the red. A fall back through the morning low $53.25 would bring the first major support level at $52.69 into play. Ripple’s XRP Bucked the Trend Ripple’s XRP rose by 0.78% on Sunday. Following on from a 0.36% gain on Saturday, Ripple’s XRP ended the week up by 6.28% to $0.25633. A choppy morning saw Ripple’s XRP fall to an early morning intraday low $0.25161 before finding support. Steering clear of the first major support level at $0.2473, Ripple’s XRP struck a mid-morning high $0.25636. Falling short of the major resistance levels, Ripple’s XRP fell back to $0.2510 levels before rallying to a late afternoon intraday high 0.25726. The late recovery saw Ripple’s XRP come within range of the first major resistance level at $0.2595 before easing back. Ripple’s XRP fell back to $0.2520 levels and into the red before a final-hour recovery. At the time of writing, Ripple’s XRP was down by 0.17% to $0.25590. A mixed start to the day saw Ripple’s XRP fall from an early morning high $0.25684 to a low $0.25424 before finding support. Ripple’s XRP left the major support and resistance levels untested early on. For the day ahead, holding onto $0.255 levels would support a run at the first major resistance level at $0.2585. Support from the broader market would be needed, however, for Ripple’s XRP to break out from Sunday’s high $0.25726. Barring a broad-based crypto rebound, Ripple’s XRP would likely fall short of $0.26 levels for a 6th consecutive day. Failure to hold onto $0.255 levels could see Ripple’s XRP slide back deep into the red. A fall through the morning low $0.25424 would bring the first major support level at $0.2529 into play. In the event of an extended sell-off, Ripple’s XRP could test the second major support level at $0.2494 before any recovery. Please let us know what you think in the comments below Thanks, Bob This article was originally posted on FX Empire More From FXEMPIRE: Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 07/10/19 NZD/USD Forex Technical Analysis – Taking Out .6349 Changes Main Trend to Up AUD/USD, NZD/USD, USD/CNY – Asian Session Daily Forecast Natural Gas Price Fundamental Weekly Forecast – Light Shoulder-Season Demand Expected ERY Rallies Over 35% After Our Call to “Start Looking For The Next Move”. Ethereum and Stellar’s Lumen Daily Tech Analysis – 07/10/19 || Vitalik Buterin: Google’s quantum supremacy no problem for crypto: After Google (finally)published resultson Wednesday showing its quantum computer blow standard supercomputers out of the water on a task, allHODLerswant to know is what it means for cryptocurrency. After all,BitcoinandEthereumare built atop cryptographic algorithms that Google's quantum computer could theoretically render obsolete. At least one person isn't worried. Practically lounging in a t-shirt and shorts, Ethereum creator Vitalik ButerintoldAngie Lau ofForkast News, "The world is not going to break tomorrow." For one thing, he said, what Google has done is more like a proof of concept. Reiterating atweethe made that day, Buterin likened what Google has achieved to the advent of hydrogen bombs 70 years ago, while noting that we still haven't figured out nuclear fusion as an everyday power source. "It proves that the ability to make a big boom exists. What it does not prove is the ability to harness that big boom to create things that are useful." And while Buterin placed the timeline for turning proof of concept into reality as "potentially over a decade away," he pushed back on public perception that quantum computing would necessarily be the death knell for cryptography anyway: "It's not true that quantum computers break all cryptography. They break some cryptographic algorithms,” he said. “But for every cryptographic algorithm that quantum computers can break, we know that we have a replacement […] that quantum computers cannot break." Though he acknowledges those may be less efficient—something that rarely bothers proof-of-work advocates who have built inefficiency into blockchain transaction verifications—he says, "We have an upgrade path and we know what the upgrade path is." Speaking from Hong Kong, part of an extended tour he has been taking around Asia since Devcon concluded earlier this month, Buterin struck a very positive note for the future of blockchains. He pointed to recent progress on scaling in the form of "optimistic rollups" a straightforward scaling option now running on the Ethereum blockchain. And he believes public blockchains like Ethereum are no longer a sideshow: "Public chains are being perceived as much more legitimate than before, including in enterprise." When Lau asked about Gartner 2019 Hype Cycle for Blockchain Technologiesreport, which showed blockchain "sliding into the Trough of Disillusionment," Buterin said, "I feel like the bottom was more at the beginning of this year. And the bottom is over already." || Binance’s direct fiat-to-crypto trading facility goes live, starting with Nigerian naira pairs: Cryptocurrency exchange Binance has listed the first direct fiat-to-cryptocurrency trading pairs, starting with Nigerian naira (NGN). Announcing the news on Thursday, Binancesaidusers can deposit NGNs and buy bitcoin (BTC), Binance coin (BNB) and Binance’s native dollar-pegged stablecoin BUSD. The NGN deposit feature is being offered via U.S.-based payments tech firm Flutterwave. The maximum deposit per transaction is 430,000 NGN (~1,185) and the minimum deposit per transaction is 150 NGN ($0.41), per the announcement. The NGN deposits fees are 1.4%.When asked why supporting NGN first, a Binance spokesperson told The Block: "Nigeria is the largest economy in Africa with nearly 200 million people - it is absolutely a promising market with great potential. In addition, Flutterwave offers very competitive rates for NGN, and the deposit processing fee is as low as 1.4%." Flutterwave is headquartered in San Francisco and has offices in Lagos, Nairobi, Accra, and Johannesburg. The firm is backed by notable investors, including Y Combinator. Its clients include Uber and Booking.com, among others, according to information on itswebsite. The next supported fiat currency would likely be Russian rubles (RUB) as Binance CEO Changpeng Zhao “CZ”announcedearlier this week that the functionality will be added, “in about two weeks or so.”The Block has reached out to Flutterwave for further comment and will update this story if they reply. UPDATE: This story has been updated to include a response from Binance spokesperson. || Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 15/09/19: Bitcoin Cash ABC rose by 2.15% on Saturday. Reversing a 0.63% fall from Friday, Bitcoin Cash ABC ended the day at $303.81. A bearish start to the day saw Bitcoin Cash ABC fall to an early morning intraday low $295.24. Steering clear of the first major support level at $294.76, rallied to a late intraday high $307.0. Bitcoin Cash ABC broke through the first major resistance level at $300.97 and second major resistance level at $303.94. Easing back in the final hour, Bitcoin Cash ABC fell back through the second major resistance level, whilst holding onto $300 levels. At the time of writing, Bitcoin Cash ABC was up by 0.98% to $306.78. A bullish start to the day saw Bitcoin Cash ABC rise from an early morning low $304.97 to a high $307. Bitcoin Cash ABC left the major support and resistance levels untested early on. For the day ahead, Bitcoin Cash ABC would need to steer clear of sub-$303 levels to support a run at the first major resistance level at $308.79. Support from the broader market would be needed, however, for Bitcoin Cash ABC to break out from this morning and Saturday’s high $307. Barring another broad-based crypto rally, Bitcoin Cash ABC would likely come up short of the second major resistance level at $313.78. Failure to steer clear of sub-$303 levels could see Bitcoin Cash ABC test the first major support level at $297.03 before any recovery. Barring a crypto meltdown, Bitcoin Cash ABC should steer well clear of the second major support level at $290.26. Litecoin rose by 2.2% on Saturday. Reversing a 0.16% fall from Friday, Litecoin ended the day at $70.62. A bearish morning saw Litecoin fall from an early morning high $69.49 to a mid-day intraday low $68.30. Steering clear of the first major support level at $67.56, Litecoin rallied to a late afternoon intraday high $71.45. The rally saw Litecoin break through the first major resistance level at $70.15 and second major resistance level at $71.22. A pull-back late in the day saw Litecoin fall back through the second major support level to wrap up the day at sub-$71 levels. At the time of writing, Litecoin was up by 0.31% to $70.84. A bullish start to the day saw Litecoin rise from an early morning low $70.64 to a high $71.47 before easing back. Litecoin left the major support and resistance levels untested early on. For the day ahead, holding above $70.60 levels would support another run at the first major resistance level at $71.95. Litecoin would need the support of the broader market, however, to break out from this morning’s high $71.47. Barring another broad-based crypto rally, Litecoin would likely fall short of the second major resistance level at $73.27. Failure to steer clear of $70.60 levels could see Litecoin reverse Saturday’s gain. A fall through to sub-$70 would bring the first major support level at $68.80 into play before any recovery. Barring a crypto meltdown, Litecoin should steer clear of sub-$68 levels on the day. Ripple’s XRP gained 2.34% on Saturday. Following on from a trend-bucking 0.55% rise from Friday, Ripple’s XRP ended the day at $0.26251. A bearish start to the day saw Ripple’s XRP fall to a mid-morning intraday low $0.25465 before making a move. Steering clear of the first major support level at $0.2536, Ripple’s XRP rallied to an early afternoon intraday high $0.2660. Ripple’s XRP broke through the major resistance levels on the way through to a current week high. A late pullback saw Ripple’s XRP fall back through the third major resistance level at $0.2632. Of significance, however, was the first hold onto $0.26 levels for the week. At the time of writing, Ripple’s XRP was up by 0.14% to $0.26287. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.26405 before pulling back to a low $0.26242. Ripple’s XRP left the major support and resistance levels untested, in spite of the choppy start. For the day ahead, Ripple’s XRP would need to steer clear of sub-$0.2615 levels to support another day in the green. A move back through the morning high $0.26405 would bring the first major resistance level at $0.2675 into play. Barring another broad-based crypto rally, Ripple’s XRP would likely come up short of $0.27 levels on the day. Failure to steer clear of sub-$0.2615 levels would bring sub-$0.26 levels into play before any recovery. Barring a broad-based crypto sell-off, however, Ripple’s XRP should steer clear of the first major support level at $0.2561. Please let us know what you think in the comments below Thanks, Bob Thisarticlewas originally posted on FX Empire • The Week Ahead – Brexit, the BoE and the FED are in Focus • Crude Oil Price Forecast – Crude oil markets looking for support • Crude Oil Price Weekly Forecast – Crude oil markets fail again • Weekly Wrap – Brexit, Monetary Policy and Trade Drove the Majors • U.S Mortgage Rates Rise as Geopolitical Risk Abates • Silver Weekly Price Forecast – Silver markets fall again for the week || Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 07/10/19: Bitcoin Cash ABC fell by 0.97% on Sunday. Following on from a 0.04% decline on Saturday, Bitcoin Cash ABC ended the week up by 0.98% to $219.93. A bearish morning saw Bitcoin Cash ABC slide from an early morning high $222.09 to a late morning low $218.00. Falling short of the major resistance levels, Bitcoin Cash ABC fell through the first major support level at $219.68. Finding support in the early afternoon, Bitcoin Cash ABC bounced back to an early afternoon intraday high $222.51. Falling short of the first major resistance level at $222.96, Bitcoin Cash ABC slid back to a late afternoon intraday low $216. Bitcoin Cash ABC fell through the first major support level at $219.68 and the second major support level at $217.71. Finding support late on, Bitcoin Cash ABC managed to break back through the major support levels to limit the downside on the day. At the time of writing, Bitcoin Cash ABC was down by 0.43% to $218.99. A mixed start to the day saw Bitcoin Cash ABC rise to an early morning high $219.99 before falling to a low $218.99. Bitcoin Cash ABC left the major support and resistance levels untested early on. For the day ahead, Bitcoin Cash ABC would need to move back through to $219.50 levels to support a run at $220 levels. Bitcoin Cash ABC would need the support of the broader market, however, to take a run at the first major resistance level at $222.96. Barring a broad-based crypto rally, the first major resistance level and Sunday’s high $222.51 would likely cap any upside. Failure to move through to $219.50 levels could see Bitcoin Cash ABC slide deeper into the red. A fall through to $217 levels would bring the first major support level at $216.45 into play. Barring an extended sell-off through the day, however, Bitcoin Cash ABC should steer clear of sub-$216 support levels. Litecoin slid by 4.17% on Sunday. Reversing a 0.69% gain from Saturday, Litecoin ended the week up by 1.08% at $54.48. Bearish through the day, Litecoin tumbled from a start of a day intraday high $56.96 to a late afternoon intraday low $53.03. Litecoin fell through the day’s major support levels before finding support from the broader market late in the day. A partial recovery saw Litecoin break back through the third major support level at $53.12 to reduce the loss on the day. At the time of writing, Litecoin was down by 0.62% to $54.14. A bearish start to the day saw Litecoin fall from an early morning high $54.50 to a low $53.35 before finding support. In spite of the early sell-off, Litecoin steered clear of the major support levels early on. For the day ahead, a move through to $54.80 levels would support a run at the first major resistance level at $56.62. Support from the broader market would be needed, however, for Litecoin to break out from $55 levels. Barring a broad-based crypto rebound, Litecoin would likely come up short of $57 levels for a 2ndconsecutive day. Failure to move through to $54.80 levels could see Litecoin spend a 2ndconsecutive day in the red. A fall back through the morning low $53.25 would bring the first major support level at $52.69 into play. Ripple’s XRP rose by 0.78% on Sunday. Following on from a 0.36% gain on Saturday, Ripple’s XRP ended the week up by 6.28% to $0.25633. A choppy morning saw Ripple’s XRP fall to an early morning intraday low $0.25161 before finding support. Steering clear of the first major support level at $0.2473, Ripple’s XRP struck a mid-morning high $0.25636. Falling short of the major resistance levels, Ripple’s XRP fell back to $0.2510 levels before rallying to a late afternoon intraday high 0.25726. The late recovery saw Ripple’s XRP come within range of the first major resistance level at $0.2595 before easing back. Ripple’s XRP fell back to $0.2520 levels and into the red before a final-hour recovery. At the time of writing, Ripple’s XRP was down by 0.17% to $0.25590. A mixed start to the day saw Ripple’s XRP fall from an early morning high $0.25684 to a low $0.25424 before finding support. Ripple’s XRP left the major support and resistance levels untested early on. For the day ahead, holding onto $0.255 levels would support a run at the first major resistance level at $0.2585. Support from the broader market would be needed, however, for Ripple’s XRP to break out from Sunday’s high $0.25726. Barring a broad-based crypto rebound, Ripple’s XRP would likely fall short of $0.26 levels for a 6th consecutive day. Failure to hold onto $0.255 levels could see Ripple’s XRP slide back deep into the red. A fall through the morning low $0.25424 would bring the first major support level at $0.2529 into play. In the event of an extended sell-off, Ripple’s XRP could test the second major support level at $0.2494 before any recovery. Please let us know what you think in the comments below Thanks, Bob Thisarticlewas originally posted on FX Empire • Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 07/10/19 • NZD/USD Forex Technical Analysis – Taking Out .6349 Changes Main Trend to Up • AUD/USD, NZD/USD, USD/CNY – Asian Session Daily Forecast • Natural Gas Price Fundamental Weekly Forecast – Light Shoulder-Season Demand Expected • ERY Rallies Over 35% After Our Call to “Start Looking For The Next Move”. • Ethereum and Stellar’s Lumen Daily Tech Analysis – 07/10/19 || Last Bitcoin ETF Hope Standing: Matt Hougan Longtime readers of ETF.com will recognize the name Matt Hougan as one of the founding employees as well as past CEO of ETF.com. He has since moved on, serving as CEO of Inside ETFs and managing director of global finance at Informa, and currently is managing director and head of research for San Francisco-based Bitwise Investments, a digital asset management firm. Bitwise has a bitcoin ETF proposal before the SEC, awaiting approval that could come as soon as Oct. 14. ETF.com spoke with Hougan to discuss why Bitwise’s bitcoin ETF is different from other proposals, which he thinks will make the difference in getting it approved. ETF.com: The SEC is expected to approve or reject your bitcoin ETF on Oct. 14. Tell me what’s going on in the regulatory pipeline. Matt Hougan: Bitwise has filed two ETF applications. One was for an index-based ETF tracking our Bitwise 10 Large Cap Crypto Index. You can think of that as the 10 largest assets by market capitalization in crypto, which is kind of equivalent to the S&P 500. It captures about 80% of the market. We also have another application that, like the Winklevoss application, is just going to hold bitcoin. It’s called the Bitwise Bitcoin ETF and is physically backed, and it proposes to hold bitcoin with an insured regulated third-party custodian. We haven't named that custodian, but there are about a handful of custodians that meet those two qualifications. They have insurance in place, and they're regulated as a state trust charter. It’s fair to say that we’re not actively pursuing the index-based application. While that’s filed, we’re not actively pursuing or doing research on it. The one we’re pursuing aggressively is the Bitwise Bitcoin ETF application. We’ve had five or six meetings with the SEC staff and the commissioners about that application. We’ve submitted over 500 pages of research in support of that application, then more than 50 comment letters around that application. This comes to a head on Oct. 14 . Story continues ETF.com: What’s the difference between your bitcoin ETF and the proposed (and rejected) Winklevoss physically backed bitcoin ETF, “COIN”? How do you see yours jumping through a hoop that others didn’t? (See: SEC Rejects Winklevoss Bitcoin ETF ) Hougan: There are three differences. The first difference is that Gemini was going to use itself as custodian. Gemini is an insured regulated custodian, so they would meet our definition. But we’re using a third-party custodian. That’s one difference. The other more important difference is that they were pricing their bitcoin based on the price on the Gemini exchange. Gemini is one of the smaller bitcoin exchanges. They were using that as the sole pricing source. We proposed to use an aggregated price from all of the significant spot exchanges in the world. Part of the SEC’s concern surrounds the potential for market manipulation, both around the price and of the underlying markets. We believe using all of the available exchanges is helpful for that. But the biggest difference is that the market has matured significantly in the past two years. Two years ago, there were no insured regulated custodians. And now there are more than a handful. That’s not anything we did. Another example is that two years ago, the markets were relatively inefficient, with large arbitrage opportunities, and uneven pricing. But now market makers have entered the market in the past year. The futures market has become truly significant. And as a result, it’s just a much different market today. The passage of time and better structuring have contributed to separate our proposal. I guess there's another piece. The growth of the CME bitcoin futures market is truly significant. One of the arguments we’ve made is that the CME market is now doing $200-million-plus a day on average volume. We think it satisfies that requirement. Now we’ll see if we've convinced the SEC. But that’s one of the reasons we think we have a better shot than the Winklevoss proposal did. It’s that the market has become much more institutional in nature. ETF.com: You argue better market stability, but over the last few days, we’ve seen a complete crater in bitcoin prices, for whatever reason. If I’m this skeptical regulator, and I look at price more than other elements, these last few days has to give me pause. Hougan: One of the hallmarks of the bitcoin market is that it’s historically been extremely volatile. We expect it to continue to be volatile in the future. I know you were talking about a specific move. But if you look back over history, there've been six periods where the bitcoin market has gone down more than 70%, which is a lot. Now, of course, over that entire period, the market’s up about 1,000,000%, literally. But it has periods where it falls down a lot. I actually don’t know that the SEC is worried about the fact that the asset can be volatile. We have plenty of ETFs tracking volatile markets that exist for a while. Volatility is a volatile market. Nature gas is a volatile market. What they're really worried about is, are the underlying markets being manipulated without a surveillance sharing agreement? Bitcoin trades on a mix of regulated and unregulated exchanges. And whether it goes up or down shouldn’t really matter to the application. What matters is whether that’s a fair and reasonable price, or whether it’s being manipulated by the market. We’ve made the argument that of course Bitcoin is volatile. There's no reward without risk. But what we were trying to argue is that the underlying markets, despite that volatility, are functioning well. There are arbitrages in place; it’s a two-sided market. And it’s an increasingly regulated market that can support ETFs. ETF.com: Who would buy your bitcoin ETF in the first month? Hougan: We’re out there right now, talking to financial advisors and family offices and small-sized institutions. Many of whom would love to have a safe, secure way to provide exposure to some or all of their clients to digital assets. Right now, they're not really set up. The thing about the bitcoin market is, there are great ways for retail investors to invest today, through Coinbase and other services that are perfect for small investments. There are good ways for large institutional investors to invest in private funds, like the one Bitwise and other people offer. There's not a great way that fits into the workflow easily for financial advisors to invest. There is a real market for this. We can help financial advisors’ portfolio problems, finding noncorrelated source of returns. ETF.com: What is the expense ratio for this ETF? Hougan: Our bitcoin fund, which is a private fund, has an expense ratio of 1% for the institutional share class, and 1.5% for the retail share class. You can use those numbers as a stalking horse. But we haven't published the expense ratio yet. One important thing to keep in mind is that every new asset class that’s been opened up in ETFs has taken a long time. It took multiple years to get bond ETFs over the line. It took about $12 million in legal fees to get the SPDR Gold Trust (GLD) over the line. We just had nontransparent active ETFs—which were filed when you and I were children—get approved. It takes a long time. The SEC does due diligence. They're doing that. And honestly, they’ve been asking great questions. Contact Drew Voros at [email protected] Recommended Stories Live Chat: How Buffer ETFs Work & Ticker Talk ETF Prime Podcast: Bitcoin, Tesla & Fractional Shares Hot Reads: These 5 Active ETFs Worth A Look Live Chat: Keys To 'ETF Rule' & Bitcoin Setback Permalink | © Copyright 2019 ETF.com. All rights reserved [Random Sample of Social Media Buzz (last 60 days)] @TheBlock__ “Blockchain not bitcoin.” Signs of the uneducated man. || € 9051.82 #bitcoin || $DIRV DirectView Successfully Enters Into Agreement https://t.co/naXrmt8WK1 #Camera #security #Surveillance #ad #wsj #nytimes #reuters #bloomberg #forbes #nasdaq #IHub_StockPosts #newyork #business #bitcoin #blockchain #crypto #cannabis #marijuana #CBD #latimes #robbreport https://t.co/2NB8rXxIXu || #Bear Cross on Key Indicator Could Push #Bitcoin Price to $7,300 https://t.co/3y91M27NkP https://t.co/AYOPZaW99d || French woman France Davies lived in UK for over 50 years kil.. @Bitcoinincoins - @InvestCrypForex - DailyMail - Twitter - News - Noticias - Bitcoin - CryptoCurrency - Forex https://t.co/AYJZYxPX3q || SEC To Rule On Bitwise ETF For Bitcoin: And 0x Releases Zk-STARKs @crypto_briefing #News #Trading #Bitcoin #Consensus #Markets https://t.co/tbIwPHF1dP Briefing/sec-to-rule-on-bitwise-etf-for-bitcoin-and-0x-releases-zkstarks-5d9cadd19e9085653fdf54d4 || Why going digital-first was https://t.co/Mr4cF2yUjL’s ticket to success .. @bitcoinincoins - @InvestCrypForex - ThinkGoogleAPAC - Twitter - News - Noticias - Bitcoin - CryptoCurrency - Forex https://t.co/HxjEuUXgDA https://t.co/YgLLBSlwFS || Halloween: Una temporada para regalar Bitcoin https://t.co/21Re5MPny9 || system maintenance. || @Brad_Laurie The token has no real purpose besides being held by speculators who are hoping that if they hold the token it will go up in value. Only the protocol you're creating the tokens on have utility value. Come on Brad, let's be real here, or BTC you're paying for the network security.
Trend: down || Prices: 9360.88, 9267.56, 8804.88, 8813.58, 9055.53, 8757.79, 8815.66, 8808.26, 8708.09, 8491.99
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 2020-04-16] BTC Price: 7116.80, BTC RSI: 54.15 Gold Price: 1720.40, Gold RSI: 60.99 Oil Price: 19.87, Oil RSI: 34.60 [Random Sample of News (last 60 days)] Algorand Foundation Sets Aside $50M in Tokens to Spur Development: The Algorand Foundation has earmarked 250 million ALGO tokens – worth about $50 million at press time – for a grant program that aims to spur development of the Algorand ecosystem. Announced Tuesday, the grant money will be doled out to companies and developers building out Algorand’s proof-of-stake blockchain over the next two to four years, according to Head of Operations Fangfang Chen. Projects focused on research and development, dapps, education and “community initiatives” are eligible for grants. The program marks Algorand’s most substantial community investment to date. A previous grant program unveiledlast Novemberpledgedanywhere from5,000 to 250,000 ALGO per six-month project, but that upper bound was “the maximum award” the Foundation said it would allow. Those figures are dwarfed by this new program’s first allocation: six million ALGO split three ways. Related:BitMEX Operator Ups Grant for Bitcoin Development to $100K The Foundation selected projects by Bloq, PureStake and Reach for the first round of grants. Chen declined to state the allotments breakdown, saying only that grants are “tailored to each project need.” Bloq is developing multi-chain infrastructure while PureStake is building the “AlgoSigner” browser plug-in. Reach, a dapp development assistance platform, is retrofitting its compiler for Algorand, said founder Chis Swenor. Swenor said Reach’s eventual integration will lower the barriers to entry on Algorand. His platform caters to first-time dapp developers who lack the experience and deep pockets of “blockchain experts.” Reach makes dapp coding “safe for all developers, not just teams of blockchain experts with an abundance of funds they can throw at auditing,” he said. “We are helping Algorand reach all developers in the world and not just the blockchain experts.” Related:European Commission Defense Program Offers Grants for Blockchain Solutions Derek Yoo, PureStake’s chief executive, told CoinDesk that AlgoSign “will let developers build Algorand transaction capabilities into their applications, much like the MetaMask plugin does on the Ethereum network.” He said the funding will cover development and the first year of maintenance and upgrades. The Algorand Foundation controls the program’s selection and evaluation processes at launch, but that may change in 2021, when Chen said it may shift decision making over to the community. • Algorand Blockchain Chosen as Underlying Tech for Marshall Islands’ Digital Currency • Binance US Now Offers Staking Rewards for These Two Cryptocurrencies || Crypto Investor’s Case Against AT&T Over $24M SIM Hack Can Proceed, Judge Rules: Cryptocurrency investor Michael Terpin can move forward with his case against mobile operator AT&T over claims the telecom was in part responsible for a SIM-swap hack that robbed him of holdings worth $24 million. In August 2018, Terpininitiated the caseagainst AT&T, alleging an employee, named as Jahmil Smith, had been bribed by a “criminal gang” to assist the fraud, which passed control of the investor’s SIM card to the hackers. Terpin alleged that while he was on the telecom’s hotline trying to regain access to his phone, his cryptocurrencies were stolen by the gang. In the latest document from the case, filed on Monday, Judge Otis Wright II at the U.S. District Court in the Central District of California denied much of AT&T’s most recent motion to dismiss the case. Related:Finnish Authorities Have $15M in Seized Bitcoin but Don’t Want to Sell It The court had found in July that while Terpin had sufficiently alleged that the hack was “reasonably foreseeable,” he had not shownproximate causebecause he did “not connect how granting the hackers/fraudsters access to [his] phone number resulted in him losing $24 million.” With the investor allowed leave to amend the complaint, Wright found Terpin has now sufficiently alleged proximate cause between AT&T’s conduct and the theft. AT&T had also contended Terpin did not provide facts to support his claim that two-factor authentication (2FA) was involved in the crime because his cryptocurrency wallets may or may not have used 2FA – an extra level of security that sends a code to a related cellphone number to allow account access. However, in denying the firm’s motion to dismiss, the judge said, “Mr. Terpin alleges sufficient facts for the Court to reasonably infer the hackers may have used 2FA methods to glean Mr. Terpin’s personal information from various accounts, such as email or cloud storage.” Related:Officials Arrest US Resident for Allegedly Laundering Drug Proceeds With Crypto AT&T had also attempted to have Terpin’stort claimsfor financial losses thrown out by contending they are barred by economic loss doctrine, which sets out that parties entering a contract should be able to anticipate any potential losses resulting from a breach of the agreement. However, if there is a “special relationship” between the parties, tort claims can be made if one party breaches the contract. Judge Wright found that since Terpin was required to share personal information with AT&T “with the understanding that AT&T would adequately protect it,” he had sufficiently made a case for there being a special relationship. On points where Judge Wright did not rule against AT&T in the motion, Terpin has been given 21 days to file an amended complaint to address any deficiencies. Terpin is suing AT&T for $23.8 million in compensation, as well as $200 million in punitive damages. In apress releaseon Tuesday, Terpin announced he will file a second amended complaint before the court’s deadline to support his request for punitive damages. He plans to demonstrate “how AT&T was both knowledgeable of, and responsible for, an ongoing sequence of cryptocurrency thefts due to SIM swaps dating back to well before Terpin’s hack,” the release states. See the full court document below: • Crypto News Roundup for Feb. 13, 2020 • Ohio Resident Charged With Laundering $311M in Bitcoin for AlphaBay || On-Chain Activity Suggests Bitcoin Price Volatility Will Continue, Thanks to ‘Whales’: Bitcoin’s (BTC) price volatility spiked in January and could further increase over the near term because “whales” have surfaced. The cryptocurrency’s annualized volatility grew roughly eight percentage points in January to a three-month high of 58.2 percent, according to Kraken’s monthly report. Volatility rose as bitcoin’s price rallied from lows near $6,850 on Jan. 3 to a three-month high of $9,570 on Jan. 31. The cryptocurrency closed out January with 30 percent gains, registering its best January performance since 2013. Related: Bitcoin News Roundup for Feb. 20, 2020 With the price rally, whales – those buyers of large numbers of coins – seem to have woken from their long slumber. The number of whale addresses – ones with balances ranging from 1K BTC to 10k BTC – ticked higher in the second half of January, as noted by Kraken’s researchers. Whale addresses and volatility The number of whale addresses increased from 2,000 to 2,030, marking a transition to an “accumulation” phase from the “wait and see” phase seen in the last four months of 2019. Historically, that transition has injected volatility into the bitcoin market. For instance, whales began accumulating coins in September 2018 and entered wait-and-watch mode in early 2019. Meanwhile, the annualized volatility bottomed out below 20 percent by mid-November and skyrocketed to 100 percent by the end of December. On similar lines, the spike in price volatility in the second quarter of 2019 was preceded by accumulation by large wallets. Related: Bitcoin Traps Buyers With Biggest Daily Price Loss in Three Months The peculiar behavior could be associated with whales having the resources to affect the market with large orders. “During the accumulation phase, whales eat into market liquidity,” Ashish Singhal, co-founder and CEO of CRUXPay and CoinSwitch.co told CoinDesk. “That affects the supply-demand ratio and causes volatility to re-enter the market.” Sudden price swings have been observed during whales’ accumulation period. The cryptocurrency’s sharp rise from $4,100 to $5,100, seen on April 2, 2019, was reportedly caused by an order worth about $100 million spread across three exchanges. Story continues Whale action has also led to big price sell-offs in the past; a bitcoin flash crash from $12,600 to $12,100 in less than 15 minutes on July 9, 2019, was triggered by a massive sell order of 6,500 BTC on cryptocurrency exchange Binance. Singhal added that HODLers – addresses with balances ranging from 10 BTC to 100 BTC – also influence liquidity and volatility. According to historical data, volatility tends to rise once the 10 to 100 BTC cohort concludes accumulation. HODLers and volatility As the growth in the number of addresses with 10 to 100 BTC topped out in November 2018, volatility kicked in and rose sharply from 20 percent to 100 percent. A similar divergence between the two metrics was seen during the four months to mid-July 2019. Currently, the 10 to 100 BTC cohort is in the accumulation phase, having bottomed out in November. The number of addresses have increased from 135,000 to 137,500 over the past three months. “Family offices, high-net-worth individuals and proprietary trading accounts have been building BTC positions continuously in the 10 to 100 range. It’s a sign of growing adoption of bitcoin as an investment,” Gabor Gurbacs , digital asset strategist/director at VanEck/MVIS, told CoinDesk. If HODLers exit the accumulation phase and whales continue to snap up coins over the coming weeks, the demand supply-imbalance could worsen, resulting in a big jump in volatility. “The problem, however, is that it is difficult to predict how long these periods of accumulation for HODLers will last,” said Connor Abendschein, crypto research analyst at Digital Assets Data. The ongoing accumulation by HODLers could last at least for a few more weeks, with the cryptocurrency set to undergo mining reward halving in three months. The rewards per block mined on bitcoin’s blockchain will be reduced from 12.5 BTC to 6.25 BTC at some point in May. Essentially, miners would have fewer bitcoins to sell after May, and that could lead to a supply deficit. In the past, markets have priced in the impending supply cut by rallying to a new market cycle top (the highest point from the preceding bear market low) in the calendar year of reward halving, but on a date before the event. Thus, if history were to repeat itself, bitcoin could rise above the June 2019 high of $13,880 before May. With such strong bullish expectations dominating the market sentiment, HODLers are unlikely to end accumulation anytime soon. However, that does not necessarily mean volatility would crash, as whales are also likely to continue accumulating coins ahead of the reward halving. “If the whales shift to accumulating bitcoin while HODLers are still within their current phase, it would suggest an additional increase in demand for BTC at near the same as the mining supply is scheduled to be cut in half in early May,” Abendschein told CoinDesk. “This imbalance has the potential to not only see a spike in volatility, but also in price.” Related Stories Bitcoin Slides Back Below $10K Amid Quick Bearish Sell-Off OpenNode Finds Way for Retailers to Turn Fiat Payments Into Bitcoin (Using Apple Pay) || SEC to Decide the Fate of Another Bitcoin ETF Proposal This Week: The U.S. Securities and Exchange Commission (SEC) is once again poised to approve or reject a bitcoin exchange-traded fund (ETF), when Wilshire Phoenix’s United States Bitcoin and Treasury Investment Trust meets a filing deadline Wednesday. Wilshire Phoenix is the latest in a long line of companies hoping to secure SEC approval to list shares of a bitcoin-related ETF, and the only one that has an active application before the securities regulator. Such an instrument would allow retail investors to get exposure to the bitcoin market without what some see as the added difficulty of owning bitcoin itself, potentially boosting market participation by individuals wary of bitcoin’s stance as an unregulated investment. While its chances are slim – the SEC has yet to approve any bitcoin ETF applications for a multitude of stated reasons – the company was filing updates to its proposal as recently as last week in efforts to bolster its application. Related:US Court Tells Telegram and SEC to Focus on ‘Economic Realities’ of Gram Token Sale Wilshire managing partner William Herrmann told CoinDesk that he was optimistic about the filing, saying in a phone call last week that “we wouldn’t have filed it if we didn’t think that it would be approved.” To boost its chances,the amended S-1filed on Feb. 14 now includes an entire additional section on underwriters, though no specific entities are named. The filing also now includes Wilshire Phoenix’s maximum share price ($2,500), a number of shares it intends to register initially (8,040) (though this number is likely to change when the actual shares are being offered) and a note on the trust’s fees (68 basis points). The firm filed the ETF application in mid-2019, with the regulatorrepeatedlypostponingany decision, leading to the final Feb. 26 deadline. In rejecting ETFs previously, the SEC has pointed to concerns about market manipulation, the bitcoin market’s overall size and a need for surveillance-sharing agreements as some factors it considers. Related:ICO Project Enigma Settles SEC Charges Over $45M Token Sale Wilshire is attempting to address these concerns by composing its ETF with a basketthat automatically rebalancesitself between U.S. Treasury bonds and bitcoin in response to the cryptocurrency’s volatility. As volatility goes up, the basket favors bonds, and vice versa. Herrmann previously told CoinDesk that in his view, this automatic rebalancing reduces the risk to investors. The SEC certainly appears to be paying attention to the filing. Accordingto public documents, CommissionersHester PeirceandAllison Herren Leeboth met with representatives from Wilshire Phoenix, NYSE Arca and their law firms. The Division of Trading and Marketsmet with representatives from the companiesin January, as well as twice last year, to discuss the proposal. Still, the SEC’s thinking on the proposal remains opaque. Wilshire’s Herrmann, reiterating a point often brought up in favor of bitcoin ETFs, told CoinDesk the product would allow a wider group of investors to safely access what is essentially a new asset class. “We want to provide easy access to strategies that are often only limited to institutions or accredited investors,” Herrmann said. “Restraining who is able to invest in any product or strategy on the basis of socioeconomic status or for any reason is simply wrong. This leaves many exposed to sudden market volatility followed by likely losses due to lack of diversification.” The bitcoin ETF Wilshire has proposed is actually one in a larger family of such products. The company has also filed to issue a gold and Treasury-backed ETF. Herrmann said he believes creating multiple investment strategies for consumers is a part of its overall strategy. “We’re confident we will have the bitcoin ETF soon, and the gold ETF won’t be far behind. We are aiming to launch a lot more products as well,” Herrmann said. • Crypto Industry Lauds Token Safe Harbor, but Warns of Risks • A Safer Harbor: Improving Hester Peirce’s Proposal for Regulating Token Sales || How the Race for Exclusivity Gave Rise to Private Restaurants: Click here to read the full article. It’s six o’clock on a Friday night in Santa Monica, and Blake Johnson is right where you’d expect him to be. The young serial entrepreneur, who has founded companies ranging from fintech to orthodontics, has tucked into his table at Mason with his wife and kids. He was at the dark, wood-ensconced midcentury restaurant the night before too, but that meal was for business. On both occasions Johnson didn’t have to wait to be seated, and the staff all knew him. On this night he skipped the wedge salad, Dover sole and steak frites to order something not on the menu, because anytime he’d done that before the chef made a delicious rendition of exactly what he was craving. “I’ve been looking for a restaurant that has high-quality food and a really good atmosphere,” he says. “Mason is a place I can be proud to take people to, but it also still has the comforts of home.” You know to look for Johnson here because he’s at this same table at the same time every Thursday and Friday. And on any given week he may run into Bitcoin entrepreneurs, the assistant coach of an NBA championship team or the showrunner for an Emmy-winning sitcom. But he’s more than just a regular. He, like most of the people around him that night, has paid to make this his table every week. More from Robb Report This $1 Million Vacation Package at the Post Oak Hotel Gets You Exclusive Wine Dinners--and Your Own Bentley Clifftops, Cocoons and Cupolas: 9 Hotels With Private Dining Experiences That Will Blow Your Mind Meet the Tastemaker Who Expertly Pairs Cannabis With Food and Wine Mason is semi-private, meaning the majority of people who dine there are members (whom the restaurant calls trustees) or their guests. The general public can come in and sit at the bar or snag a table here or there, but for the most part, this restaurant is a cloistered little enclave for the well-heeled in Los Angeles. Mason Private Restaurant On the other side of the country, WS New York , a similar establishment in Manhattan’s Hudson Yards, opened last fall—in partnership with Wine Spectator —for a select group of members. Down in Miami, residents of Oceana Bal Harbour have a restaurant reserved just for them. And chef Jean-Georges Vongerichten is planning a private restaurant inside 220 Central Park South—the same New York City building where hedge funder Ken Griffin spent $238 million for the most expensive apartment ever sold in the US. More private restaurants will be on the way. Because while the restaurant industry is facing headwinds that require creativity to survive, an affluent segment of diners has an appetite for ever more exclusive experiences. The private restaurant could satisfy both demands. Story continues And yet it may seem anathema to chefs and restaurateurs to so greatly limit the number of people who can come into their establishments. How does that make business sense when it’s already hard enough to keep a restaurant financially viable in a big city? “A lot of people are trying to do it because of cost—the rising cost of food and labor and whatever it might be. Having the members’ fees helps offset a lot,” says John Terzian, cofounder of LA-based H.wood Group , which owns Mason. In cities like New York and Los Angeles, running a restaurant is becoming prohibitively expensive. Award-winning chef Tom Colicchio closed Craftbar in 2017 after 15 years because the landlord raised his rent 50 percent. And across the City of Angels, the price per square foot of commercial real estate has soared; in some neighborhoods, like Koreatown, costs have doubled from 2010 to 2019. At the same time, in many major metro areas, the minimum wage has increased. So a steady stream of revenue can be key to survival in an industry with thin profit margins. But a restaurateur can’t just throw open the door on a private place and expect people to show. There has to be a customer base to make it work, as with the residents of a condo community or, in WS New York’s case, billionaire developer Stephen Ross’s Rolodex. “It takes having a really deep network of people and an understanding of them,” Terzian says. “Pulling off this type of concept has taken 12 years of us in the hospitality business.” To dream up Mason, the duo behind H.wood Group, Terzian and Brian Toll, looked to the past, to Rao’s , a red-sauce Italian joint in East Harlem that has long been New York’s toughest table. “It’s the same model as Rao’s, where you own the table,” Terzian says. H.wood wanted that kind of exclusivity for its nexus of VIPs, who also frequent its popular nightclubs around town. The benefits of such a system, where the two could curate a group of interesting people who had standing reservations, really hit Terzian when he was at another restaurant. “I went out with a friend and had a reservation, but it took an hour for them to sit us and no one knew us,” he says. “In my head I was thinking I would pay 5 grand, 10 grand a year to never have to wait like this.” So he and Toll got to work building out a 14-table restaurant nestled between Santa Monica and the Pacific Palisades, where the Pacific Ocean rolls blissfully outside. They offered the trustees a concierge they could contact to make arrangements, like letting a friend take the table on their designated night. The evening’s food and drinks can be charged to the account, so there’s no fumbling with a check at the end of the meal. And members who bought in early have their valet parking covered. Terzian and Toll tried to make the experience nearly frictionless. At Philadelphia’s Fitler Club , which opened last spring (initiation fees started at $2,250), it’s that level of service that has most appealed to members who fill the lifestyle club’s private restaurant, overseen by chef Marc Vetri, a James Beard Award winner. “A member told me—and I hear this comment all the time—‘What I love the most is that I can just come here. I don’t have to make a reservation. I don’t have to wait in line outside some place that anyone in the world can go to. When I come here, they recognize me, they already know my preferences, they know where I like to sit, they know what type of still or sparkling water. It’s anticipated,’ ” says David Gutstadt, the club’s founder. With Mason promising a personal touch, tables started moving quickly, with weekends getting snatched up for a lifetime membership in the six figures. Weeknight slots remain for a few grand per year. Those annual dues make the table yours for the whole night, with no minimum spend on food and drink. Johnson hopped on early, buying two nights because it felt like a natural fit. “People like me want to be able to experience these types of esoteric environments—clubs that are exclusive or there’s a barrier to entry,” Johnson says. “Mason was something I was looking for. I tend to keep smaller circles. It’s a much more exclusive, personalized feel when you go in.” Certainly, affluent diners could get that kind of exclusivity by simply going to Michelin-three-star restaurants, where a $595 tasting menu at Masa can keep a lot of the general public away. The problem is that people don’t want to eat four-hour-long culinary journeys a few times a week. Besides, not everyone needs a transcendent meal for a good night out. People like Johnson look for those dining experiences sometimes, but other times they’re using the restaurant as a place to hang out with the family or entertain business associates. And they’d like a place with familiar faces. Hence, the operators of private restaurants have sought to create not just a clubby atmosphere but an actual club. The civic organizations of previous generations have faded, like Rotary, which has lost a quarter of its North American membership in the last two decades. What hasn’t faded is the desire to be part of a community. Restaurants will play an increasingly important role as a gathering place, according to a report by the National Restaurant Association on trends that will define the industry in 2030 . Some establishments will succeed because they will place “less emphasis on table turnover and more emphasis on facilitating repeat socializing by customers.” It’s something Fitler Club is already seeing. “Our number-one comment from members is they love the idea of community, and they want it. We’re agnostic to what you do or how old you are. We more look at, are you a leader? Are you a connector? Are you an intellectual in the community? Then we want you,” Gutstadt says. “We had a holiday brunch, and 250 people came and ate in our restaurant. It was amazing to see because you’ve got families now. People are starting to get to really know each other, and it’s like, ‘Oh yeah, let’s meet at the club.’ ” That’s the alchemy that will make private restaurants succeed: an air of exclusivity combined with a sense of personal connection and belonging. Best of Robb Report The 10 Best Wines to Pair With Steak, From Cabernet to Malbec 20 Stellar Wines Under $100—and 5 Secrets for How to Find Them The 11 Best Cookbooks of 2019 Sign up for Robb Report's Newsletter . For the latest news, follow us on Facebook , Twitter , and Instagram . View comments || Bitcoin falls below 8,000 ahead of what is expected to be a rough day for U.S. stocks: The global markets rout continued into Monday morning following a historic weekend for stocks and commodity trading over the weekend. Trading of S&P 500 futures were halted Sunday following a5% decline,indicating U.S. stocks will plunge at market open. The panic selling followed the largest one-day decline in oil prices in 30 years, which was set-off bya breakdown in conversations between OPECand Russia to cut crude output. The outlook for the oil market is bleak, according to Goldman Sachs. In a note to clients, the investment bank cut its second quarter and third quarter estimate for oil prices to $20 a barrel. The jitters in oil are underpinned by broader market concerns about the economic ramifications of the ever-spreading corona-virus, which surpassed more than 100,000 confirmed cases over the weekend. Italy, a country reeling from its inability to control the virus outbreak, is limiting travel to the most impacted regions. Indeed, investors have been seeking safety over the course of the last month, fleeing risk assets from bitcoin to stocks. As such, the yield for30-year U.S. Teasury fell below 1%for the first time in history, while the 10-year hit a record low of less than 0.4%. Experts expect the Federal Reserve will once again slash interest rates to curb corona's fall-out. Investment banks such as Citigroup and Goldman Sachs have been sounding the alarm bells, noting in research to clients that market turmoil might continue until the end of the year. "The US economy could slip into a recession if the coronavirus contagion lasts for an extended period of time," Goldman Sachs said in a note reviewed by The Block. "In that situation, we estimate S&P 500 EPS would fall by 13% to $143 in 2020 and the index would decline to 2450 by year-end." The index ended Friday's trade at around 2,972, a more than 12% decline since February 19. As for bitcoin, the price of the digital currency—which has been lauded as both a safe haven and uncorrelated asset by some market pontificators—has largely been in lock-step with the broader market. It has dipped below $8,000 Monday morning, trading down more than 12% since Saturday. Meanwhile, CME Group Bitcoin futures — arguably the easiest product for traditional traders, hedge funds, and large asset managers to get exposure to bitcoin — had seen volumes fall off a cliff since breaching $1 billion in traded volume the day before the S&P500 peaked. The 7-day rolling average trading volume of CME bitcoin futures is down more than 75% since then. || Venture production studio Thesis closes a $7.7 million funding round as it prepares for tBTC’s launch in April: Thesis, the team behind the Keep protocol, has secured $7.7 million in a fresh funding round led by Paradigm Capital, with participation from firms including Fenbushi Capital and Collaborative Funds. The venture production studio is preparing to launch its tBTC product on April 27. Thesis has been working with cross-chain financial service provider Summa to develop the tBTC protocol, which will be the first major app on the Keep network. As The Block previously explained , tBTC is an ERC-20 token fully collateralized by bitcoin and redeemable at any time. Users looking to spend their bitcoin on Ethereum can simply deposit their bitcoin into a threshold signature contact. After the signing group sends a proof of deposit to the Ethereum chain, a tBTC token will be minted and sent to the bitcoin holder’s Ethereum wallet. "Decentralized financial applications on Ethereum have seen clear demand," said Paradigm co-founder Fred Ehrsam said in a statement. "Bitcoin is the world's largest cryptocurrency. Building a bridge that allows Bitcoin to interact with DeFi makes a lot of sense, and tBTC is a credible attempt to do exactly that." There have been a number of Ethereum-based tokens pegged to Bitcoin, including Wrapped Bitcoin (WBTC), ImToken’s imBTC, and Synthetix’ sBTC. tBTC’s differentiator lies in its redemption feature, which is something that projects like WBTC still lack even until today. According to Thesis CEO Matt Luongo, the team plans to integrate with lending platforms like Compound shortly after launch. However, Compound CEO Robert Leshner previously told The Block that low liquidity could potentially prevent the token from becoming a collateral option in the near future. || Bitcoin miners made $380 million in revenue during March, new data shows: New data gathered by The Block Research shows that bitcoin miners brought in an estimated $380.1 million during the month of March. That figure represents a 25 percent decline compared to February, as shown in the graph below. The number is based on the assumption that miners sell their bitcoin holdings immediately and is drawn from the daily close price of BTC. [caption id="attachment_61164" align="alignnone" width="1600"] Source: CoinMarketCap, Coin Metrics, The Block [/caption] As noted by The Block's Larry Cermak in his March by-the-numbers wrap-up , the vast majority of that revenue was in the form of block reward subsidies, which at this time at 12.5 BTC per block. That number will fall to 6.25 BTC when the subsidy is halved during an event expected to take place next month. Transaction fees – which are paid by bitcoin network users – were about 2.12% of the total amount of revenue generated. As The Block previously reported, bitcoin miners made an estimated $5 billion in revenue during 2019. The $5 billion figure represented a fall from the level seen in 2018, when miners brought in an estimated $5.26 billion. || Ethereum Falls 10% In Bearish Trade: Investing.com - Ethereum was trading at $238.09 by 21:09 (02:09 GMT) on the Investing.com Index on Wednesday, down 10.11% on the day. It was the largest one-day percentage loss since September 24, 2019. The move downwards pushed Ethereum's market cap down to $26.48B, or 9.83% of the total cryptocurrency market cap. At its highest, Ethereum's market cap was $135.58B. Ethereum had traded in a range of $238.09 to $250.05 in the previous twenty-four hours. Over the past seven days, Ethereum has seen a drop in value, as it lost 13.93%. The volume of Ethereum traded in the twenty-four hours to time of writing was $22.30B or 14.01% of the total volume of all cryptocurrencies. It has traded in a range of $238.0932 to $276.8061 in the past 7 days. At its current price, Ethereum is still down 83.27% from its all-time high of $1,423.20 set on January 13, 2018. Bitcoin was last at $9,177.7 on the Investing.com Index, down 4.63% on the day. XRP was trading at $0.23697 on the Investing.com Index, a loss of 13.04%. Bitcoin's market cap was last at $168.46B or 62.56% of the total cryptocurrency market cap, while XRP's market cap totaled $10.70B or 3.98% of the total cryptocurrency market value. Related Articles Cardano Falls 10% In Rout Litecoin Falls 11% In Rout Unity in Europe — DGen's Conclusion to Fueling Blockchain Innovation || Bitcoin Slides Back Below $10K Amid Quick Bearish Sell-Off: Bitcoin has dipped back below the psychological area of support near the $10,000 level amid a 20-minute sell-off that took the markets by surprise. At around 21:30 UTC on Feb. 19, the price of bitcoin (BTC) fell more than 4.5 percent from $10,086 to $9,610, according to CoinDesk’s BPI data, despite the technical signs appearing to favor the bulls . On exchanges like Bitstamp and Coinbase, prices dropped to as low as $9,280 before quickly being snatched up by opportunistic buyers looking to capitalize on the fall. BTC is now changing hands at around $9,719. Related: Oil Prices Are Now More Volatile Than Bitcoin “I’m a long holder and even I’m shook,” said BTC investor and podcast host Brad Mills in a recent tweet . “That usually means too much exposure,” he added. Indeed, the sell-off caught many traders unawares as the price of BTC shed much of the gains achieved over the last few days, with BTC’s price rising out of a prior area of resistance near $9,483 on Feb. 17 to above $10,000 a day later. So far sellers are intent on keeping prices below hourly resistances near $9,793. That will be a telling sign should prices remain below that level in the coming days, towards the end of the weekly closing session on Feb. 24. Related: Bitcoin News Roundup for Feb. 20, 2020 Yassine Elmandjra, a crypto analyst at Ark Invest, said in a recent tweet that today marks BTC’s fifth-largest hourly price drop in history. “The only other time we’ve seen a greater dollar price drop is at the December 2017 peak,” Elmandjra said. Other notable cryptocurrencies are also down, with the likes of XRP (XRP), ether (ETH) and bitcoin cash (BCH) down between 5.5 and 8.1 percent over a 24-hour period. Tezos, on the other hand, is still trending up 5.46 percent on a 24-hour basis and one of the only crypto in the top 20 to still be in the green, Messari data shows. UPDATE (Feb. 20, 00:25 UTC): Co-founder and managing partner at Kenetic , Jehan Chu, told CoinDesk that “today’s sell-off was nothing more than short-term profit-taking in a market gaining steam. Pullbacks like this are common and we can expect oscillations, but this year’s upward and dominant trajectory for bitcoin is clear .” Related Stories Bitcoin Traps Buyers With Biggest Daily Price Loss in Three Months OpenNode Finds Way for Retailers to Turn Fiat Payments Into Bitcoin (Using Apple Pay) [Random Sample of Social Media Buzz (last 60 days)] None available.
Trend: up || Prices: 7096.18, 7257.67, 7189.42, 6881.96, 6880.32, 7117.21, 7429.72, 7550.90, 7569.94, 7679.87
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)] Winklevoss Twins’ Crypto Exchange Is Expanding Into the U.K.: (Bloomberg) -- Cryptocurrency exchange Gemini Trust Company LLC is expanding into the U.K. after being granted an electronic-money license from the Financial Conduct Authority. The New York-based firm was founded by Tyler and Cameron Winklevoss, who after claiming Mark Zuckerberg took their idea for a social-networking website to start Facebook Inc., moved on to become entrepreneurs in the digital-asset industry. Gemini will now let U.K. consumers buy products with Bitcoin using regular debit cards as a funding source. Investors in cryptocurrency will similarly be able to fund digital wallets via bank payments such as CHAPS, without incurring foreign exchange fees. “London is one of the birthplaces of modern finance, and has a rich tradition of regulation, but also fosters an environment of innovation,” Tyler Winklevoss said in an interview, adding that regulation and trust are central to the operation of an exchange like Gemini for consumers. Bitcoin has been highly volatile since its 2009 debut, with few institutional investors seeing it as a viable long-term bet. Gemini will be secure, and offer protection against fraud and money laundering, the company said in a statement Thursday. In Europe, Gemini will have to compete against a slew of players, some of them regulated by the Financial Conduct Authority as well. In August, the U.K. regulator also approved Archax, an exchange that is due to launch in the fourth quarter. The agency said that all crypto exchanges operating in the country have to register by Jan. 10, 2021. But for now, Gemini is in a select club of registered firms, and it’s also already operational. Gemini is also in the licensing process in Singapore, Winklevoss said. On its home turf, Gemini faces off against its much-bigger rival, Coinbase Inc. It’s also a small exchange internationally, where crypto exchanges located in more loosely regulated jurisdictions rule. Globally, Gemini is the world’s 67th-largest crypto spot exchange, according to rankings site CoinMarketCap.com, which is owned by world’s largest crypto spot exchange, Binance. Gemini is also a New York trust company that’s regulated by the New York State Department of Financial Services. For more articles like this, please visit us atbloomberg.com Subscribe nowto stay ahead with the most trusted business news source. ©2020 Bloomberg L.P. || CBDCs Could Challenge US Dollar’s Dominance: Deutsche Bank: Geopolitical jostling accelerated by large-scale private stablecoin initiatives like libra, plus an added dose of COVID-19, means we are now facing a perfect storm for central bank digital currencies (CBDCs). Such tectonic shifts are beingacknowledged by big playerslike Deutsche Bank, the latest lender to issuea report on CBDCsand their looming impact. The report, while quite conservative, recognizes the global financial system is in a state of exponential flux. For example, within only a decade of Bitcoin’s arrival, China has begun testing a CBDC in four major cities. Related:EU Proposes Full Regulatory Framework for Cryptocurrencies “The e-RMB and theBelt and Road Initiativewould give China a chance to increase the importance of that currency overall,” Gerit Heinz, Deutsche Bank’s chief investment strategist, said in an interview with CoinDesk. “That could also imply some changes in the global reserve system.” Challenging the marriage of convenience between the global financial system and the U.S. dollar may be the technology’s ultimate impact. “CBDC has the potential to challenge the primacy of the U.S. dollar,” Heinz said. It’s perhaps no surprise this potential decoupling is being driven hardest of all by China, the anchor of a region that holds half the world’s foreign exchange reserves, not to mention some of the niftiest digital payments infrastructure. Related:Societe Generale to Use as Many as Five Blockchains in Capital Markets Trials So what’s Europe’s position in this digital currency cold war? Earlier this month, European Central Bank President Christine Lagarde said at a conference in Germany thatEurope has fallen behind the competition when it comes to CBDCs. A digital euro, which would not replace cash but complement it, is needed to keep Europe at the cutting edge of innovation and to provide an alternative to private digital currency initiatives like libra, Lagarde added ina speech last week. Read more:Digital Euro Would Provide Alternative to Cryptos, ECB President Lagarde Says The CBDC race is being run on uneven ground, however. Deutsche’s Heinz pointed out that in a democratic system, governments would have to take time to explain these developments to their people. “And people would probably want to have a say in this, although probably to varying degrees in different countries,” he said, adding: “In Europe, I would expect a lot of discussions about this. The euro introduced as a currency decades ago has triggered a lot of discussions. So CBDC in a euro system of different countries would, of course, imply much more discussion than in a bigger, more centralized country like China.” Stepping back, the Deutsche Bank report reminds us that changes to the dominant global reserve currency are a historical recurrence. “The pound was more important in the past and then the dollar took over; the petro-dollar and the fact that commodities are traded in dollars is one reason,” said Heinz. The difference today is that it’s not just the dominance of the dollar, it’s the dominance of U.S.-centric infrastructure and technology in payment systems, said Rashid Hoosenally, CEO of Lacero, a builder of infrastructure connecting digital assets to regular businesses. “I think that in the CBDC story, there is potentially an evolution to a more distributed version of that power, something that looks more like a global consortium rather than being overly centered around any one country or economic bloc,” said Hoosenally. “If that also leads to more harmonization of regulation and technology standards, that could bring huge financial and social benefits by making the system much more efficient.” As such, CBDC could be the next front in a technology-based cold war, which has included things like theGoogle tax, and in which regard it’s not at all surprising to find that Europe appears to be more outraged than anyone over Facebook’s libra plans. (It’s also interesting to note that Europe’s broad proposals for its digital finance future, which include a framework forthe regulation of all digital assets, alsoaims at gaining some kind of oversightof U.S. cloud providers like Amazon Web Services, Microsoft Azure, Google Cloud Platform and IBM Cloud.) Read more:Leaked EU Draft Proposes All-Encompassing Laws for Crypto Assets On the banking side of things, there are some who even see CBDC as a possible revenge catalyst for putativelyprotectionist policiesintroduced by the U.S. post-2008. “I’m not sure I would call it a ‘war’ or a ‘battle’ because I think really what central banks are doing is responding to what’s going on in the economy,” said Gary Smith, founder of Sovereign Focus, a consultancy based in London. However, Smith did refer to the arrangement regarding America and Europe, as well as many other places as something of aloveless marriage, citing as an example U.S.-imposed sanctions on Iran. “The U.S. walked away from the Iran agreement. Europe hasn’t and would like to do some trade with Iran, but they are being bullied by the U.S. Treasury,” said Smith. “So having an alternative payment system that Europe can use without falling foul of the U.S. Treasury is something that probably has some appeal.” Also last week, the International Association of Trusted Blockchain Applications (INATBA), a trade association withclose tiesto the European Commission, showed its support for the creation of a level playing field for digital assets in Europe, by stating ina blog post: “Europe is not just carving out its own place in the ‘tech cold war.’ It is seeking to rise above it with a cunning strategy.” The situation regarding CBDCs on the global stage is not about being anti-American, or anti-Chinese, said Marc Taverner, INATBA’s executive director. “What we are seeing is the tectonic plates shifting and a great opportunity around digital currencies and DLT,” Taverner said. “What Europe is aiming at is to be is a place for innovation.” Read the full report: • CBDCs Could Challenge US Dollar’s Dominance: Deutsche Bank • CBDCs Could Challenge US Dollar’s Dominance: Deutsche Bank || Twetch Launches Encrypted Messaging, In-Chat Payments on BSV Blockchain: Twetch, a micropayment-based social network that runs on the Bitcoin SV blockchain, has introduced an encrypteddirect-messagingfunction that lets users send each other money in the chat. Released Wednesday, Twetch Chat adds a layer of privacy and security to the Twitter alternative and is in line with a trend toward more private communications that have been a focus of companies in recent years. The twist is that you need a cryptocurrency wallet to take advantage of the feature – specifically, one that connects to BSV, a splinter network from Bitcoin Cash, which itself seceded from the main Bitcoin chain. “Unlike legacy internet services, Twetch offloads key management to the user’s account (which is a Bitcoin [SV] wallet),” said Twetch CEO Joshua Petty, whoseamphibian Twitter avataris a nod to thedankercorners of the internet, in a statement. “It’s a step toward breaking up the big tech data monopoly.” • To use Twetch, you need a Moneybutton or Relayx wallet to store and sendBSV. Moneybutton and Relayx both use the PayMail protocol, which creates an email-like ID like “[email protected]” instead of the string of numbers and characters typically associated with a wallet. When setting up a Twetch account, the service randomly generates a 12-word seed phrase associated with each unique wallet’s public key. This seed is then encrypted and stored in Twetch’s database. Whenever you want to log in, you have to decrypt the seed to prove your identity and gain access. • The AES encryption standard uses the same key to encrypt and decrypt. So when you want to chat on Twetch, the chat initiator creates an AES cipher, or code, for the chat. This cipher is then used by both participants to send and read encrypted messages. • The cipher itself is encrypted by the user’s seed/key and stored by Twetch in its servers so the user can decrypt it later, and only chat participants can read and send messages. • When you want to chat, you find the person you want to communicate with and agree on a room in a “house.” The person who initiates the chat creates a special “lock” and key from their and their partner’s key, so no one except them can enter the conversation. • Twetch Chat is intended to be used for business as well as social interactions. Within the chat, users can negotiate deals in private and pay each other as part of the same interaction. Related:Australian University Finds Privacy Issues With Blockchain Technology According to Petty, early testers of Twetch Chat demonstrated to him that users will spend more time on the platform when using this feature. • “Messaging is a key feature for any social network,” he wrote in an email to CoinDesk. “Most of the apps people use right now are not encrypted let alone give you access to the data like we do. This is setting the standard of how all software is going to work. Sound security and sound money built in by default.” Nothing is foolproof, however. • “Just like with yourbitcoinor crypto wallet, it is possible people lose access to all their wallets/private keys,” Petty acknowledged. “However, it is possible to cross-sign with multiple wallets on Twetch.” • Twetch Launches Encrypted Messaging, In-Chat Payments on BSV Blockchain • Twetch Launches Encrypted Messaging, In-Chat Payments on BSV Blockchain • Twetch Launches Encrypted Messaging, In-Chat Payments on BSV Blockchain || Bitcoin Miners Saw 23% Revenue Increase in August: Bitcoin miners enjoyed a 23% increase in revenue during August, driven by higher network fees from increased on-chain transaction volume as bitcoin (BTC) avoided a daily close below $11,000 throughout the entire month. • Bitcoin miners generated an estimated $368 million in revenue in August, up from $300 million in July, and the third consecutive monthly increase in miner revenue, according to Coin Metrics data analyzed by CoinDesk. • Revenue estimates assume miners sell theirbitcoinsimmediately. • Network fees brought in $39 million in August, or 10.7% of total revenue, setting the highest percentage of fee-generated revenue in over 18 months. • Correspondingly, average daily fees continued July’supward trend, staying above $2 for the entire month of August, according to Coin Metrics data. • July’s revenue increase coincided with rallies of the shares of publicly traded mining companies, several of which continue tooutperform bitcoin. • In addition,Riot Blockchain,Marathon Patent Grouphave reported significant revenue increases and mining capacity growth over the past quarter. Even troubled Hangzhou, China-based Canaan Creativereported a 160% revenue increaseover the June period. • Bitcoin Miners Saw 23% Revenue Increase in August • Bitcoin Miners Saw 23% Revenue Increase in August • Bitcoin Miners Saw 23% Revenue Increase in August • Bitcoin Miners Saw 23% Revenue Increase in August || Privacy Startup Nym Will Pay You in Bitcoin to Run Its Mixnet: Nym now allowsbitcointransactions and has anincentive programfor people running itsnodes. It is also enabling plugins that will allow users to plug in wallets and applications to run their traffic through its mixnet. Nymis a start-up software project working to obscure metadata tracking at a network level via the mixnet it enables. The mixnet itself is hosted by a decentralized network of volunteers. On a normal internet network, most traffic can be tracked. Browsers like Tor offer a degree of protection against network surveillance by running traffic through a number of relays to obscure a user’s location and usage. Such networks are still susceptible to metadata observation, however, meaning highly capable adversaries like the National Security Agency in the U.S. are able to see the timing of data packages being sent across a network to get an idea of what’s going on, even if they can’t see the actual contents of the packages. Related:First Mover: Ethereum Gets Unplanned Stress Test as DeFi Fever Grows It’s like when the NSA was tracking alleged terrorists’ phone calls in the U.S. While they weren’t eavesdropping on the calls themselves, they were looking at those involved in the calls as well as the duration of the calls and other details. See also:Road to Consensus: Harry Halpin Talks Holistic Privacy, Mixnets and COVID-19 (of Course) A mix network or “mixnet,” on the other hand, (taking its name from the proxy servers it employs, called “mixes”) obscures the metadata left behind when data passes through a network. “In a mixnet all the data packets get shuffled around, and then it’s emitted in a different order than [how] they came in, with a small delay,” said Dave Hrycyszyn, CTO of Nym. “Basically a mixnet acts like a game of Yahtzee, where the dice are data packs, they get shaken around on the mixnet and come out in an entirely different manner than they went in.” Related:Bitcoin Holds Firm Above $10K but Strong Bounce Proves Elusive Doing that multiple times, said Hrycyszyn, makes it impossible for an attacker monitoring all the network traffic on the internet to see who’s communicating with whom. Nym has largely been focusing on its testnet, with node operators hosting them as a labor of love. Now, Nym will compensate operators using bitcoin. One way it offers rewards is through L-BTC on the Liquid sidechain using the Blockstream Green wallet. Liquid offers on-chain privacy using confidential transactions, which obscure the amounts being paid. For those who don’t have or want a Blockstream Green wallet, Nym will reward operators with BTC because Nym doesn’t want to force anyone to adopt a particular wallet. It will also be launching an incentivized bounty program to test the network’s strength. Nym is also launching its own reputation system, NYMPH, which lets it and node operators keep track of which mixnodes are online and mixing data packs, even across multiple chains. The company is also adding greater functionality for running transactions and web traffic over its mixnet. Read more:Europe Debates COVID-19 Contact Tracing That Respects Privacy “Nym is plug-and-play replacement for Tor for any wallet that supports SOCKS5, or any application that supports SOCKS5,” said Nym CEO Harry Halpin. For example, the Nym team has streamed video through Firefox on the network, though Halpin says that is still experimental at this point. SOCKS is a protocol that exchanges network packets between device and server via a proxy. “What Nym does is, just like Tor, start a SOCKS5 client up on your local machine. You send all your traffic from the app there. It transforms it into Sphinx packets (the same format Lightning uses, but invented for mixnets) and sends the traffic through the Nym mixnet,” he said. Adam Back, CEO of Blockstream, said in a statement that Nym’s mixnet technology looks promising as a modern upgrade to Tor and is a step forward in terms of privacy. “Network privacy is a crucial component to ensuring the financial privacy of Bitcoin users, so we were very happy to collaborate with Nym on its integration with Liquid,” he said. “Nym’s SOCKS5 architecture made adding Blockstream Green wallet support easy, and we’ll keep an eye on the project with a view to adding standalone support in the future.” Read more:New Malware Spotted in the Wild That Puts Cryptocurrency Wallets at Risk These are important steps for mixnets, which aren’t in regular use right now and are traditionally fairly slow and clunky. The slowness is in part due to disrupting the timing of data packet delivery to foil network-level observers. Nym recognizes that while this is important progress, it’s not a privacy panacea.  At least, not yet. “We do not recommend depending on the Nym mixnet for strong privacy yet,” said Hrycyszynin a post announcing the updates. “We are working to get sender and receiver anonymity coded up, after which a full audit will be needed. But we are making very steady progress, and we invite you to try the mixnet today and give us feedback about how things go.” • Privacy Startup Nym Will Pay You in Bitcoin to Run Its Mixnet • Privacy Startup Nym Will Pay You in Bitcoin to Run Its Mixnet || Pantera Capital Crypto Funds Report 100% Returns Amid DeFi Craze: A boom in decentralized finance (DeFi) has turbo-charged returns for Pantera Capital’s bitcoin and mixed cryptocurrency hedge funds this year. From Jan. 1 to Aug. 31, Pantera’s bitcoin (BTC) fund gained 61%, its digital asset fund 168%, its initial coin offering (ICO) fund 323% and its long-term ICO fund 270%, thanks in large part to Yearn Finance’s YFI, Terra’s LUNA, Polkadot’s DOT, Flexa’s AMP and Ampleforth’s AMPL DeFi-related tokens, according to an investor letter sent out last week. Year-to-date, the funds have outperformed the S&P 500 stock index, as well as index and hedge funds. The returns also tipped the ICO funds’ life-to-date returns over 0% again and skyrocketed the bitcoin fund’s life-to-date return further from 10,162% to 16,361%. The tilt shows how bitcoin tends to be correlated with alternative cryptocurrencies, called altcoins, and how some investors are bouncing back from the 2018 and 2019 cryptocurrency market downturn with investments in DeFi. Related:Ex-Pantera Partner's New Crypto Fund Is 'Not for the Faint of Heart' DeFi is a catch-all term for a variety of advanced financial applications for cryptocurrencies, from lending to derivatives to insurance, that have flourished in 2020. Most of the action takes place on Ethereum, the second-largest blockchain, which unlike Bitcoin was designed from the outset to run complex computations enabled by self-executing financial contracts. “We’ve been positioning the funds towards decentralized finance,” Joey Krug, co-chief investment officer with Dan Morehead, wrote in Pantera’s September 2020 investor letter. “We started acquiring these types of assets some years back, and it’s exciting to see the DeFi space gaining momentum.” Centralized cryptocurrency exchanges have now been rushing to list DeFi-related coins, and total value locked into assets on decentralized cryptocurrency exchanges have shot up overnight from next-to-nothing to over $13 billion in September, according to data site DeFi Pulse. Read more:Binance, Huobi, OKEx Have FOMO for DeFi Related:New Bitcoin Options App Raises $4.7M in Round Led by Pantera Capital The explosion in DeFi isreminiscent of three years agowhen newfangled digital assets issued through ICOs lined investor pockets as they saturated cryptocurrency markets and gripped speculative mania. Some of the DeFi coins popping up today, like Chainlink’s LINK token, were originally promised during those ICOs tailored to bootstrapping projects and startups. Other DeFi coins, like cryptocurrency collateral system MakerDAO’s MKR token (also traded by Pantera funds), were sold in private investor rounds. “Projects are going to market with live products that actually work (with cash flows or potential for cash flows) and with generally much higher quality teams than in 2017,” Pantera Capital went on to explain in the letter. “There’s finally a resurgence in the ICO market.” Pantera Capital did not respond officially to requests for comment. The recovery in the four Pantera funds is remarkable considering that the four Pantera Capital fundssuffered tremendously in 2018 and 2019when cryptocurrency markets imploded, with the exception of the bitcoin fund in 2019. In 2018 then in 2019, the bitcoin fund lost 75.6% then made back 87.7%; the digital asset fund lost 87.2% then 1.9%; the regular ICO fund lost 83.1% then 23.5%; and the long-term ICO fund lost 9.6% in both years. According to cryptocurrency exchange analytics website CoinGecko, peak market capitalizations had deflated between 35% and 100% before 2020 for most tokens, with some facing regulatory enforcement actions. Read more:Ex-Pantera Partner’s New Crypto Fund Is ‘Not for the Faint of Heart’ Trading started in November 2017 in the Pantera digital asset fund, July 2017 in the regular ICO fund, and December 2017 in the long-term ICO fund. By the end of 2017, as cryptocurrency prices surged, the regular Pantera ICO fund was returning 347.6% and the long-term Pantera ICO fund was returning 6%. That year alone, the Pantera bitcoin fund, which began passively buying and holding BTC in July 2013, and later the splinter currency bitcoin cash (BCH), returned 1,565%, yielding the fund’s highest life-to-date return yet of 25,000%. Now, the life-to-date returns are 144.4% in the regular ICO fund and 216.3% in the long-term ICO fund. The Pantera digital asset fund’s life-to-date return still lags, down 27.1% historically, but marks an improvement from losing almost all its money, having sunk by 72.8% in total value by the end of December. The Pantera ICO funds were also returning negatively by then, having fallen 42.2% in life-to-date value in the regular ICO fund and 14.5% in the long-term ICO fund. The clawback may be due not only to Pantera Capital holding DeFi tokens that happen to be launching in a boom time, but also to the leverage it has in holding large amounts of them, magnifying their returns. Pantera Capital is one of the largest investors, if not the largest, in Polkadot’sfirst token salethat raised $144.63 million, earlier investor materials from April 2018 have indicated. The Polkadot blockchain raised $43.3 million in asecond token salein July, and the Polkadot token itself, purchased by investors at $14, has been trading below $7 since the blockchain went live in August. Pantera Capital is confirmed in the April 2018 materials to also have been the largest investor in the Origin decentralized data-sharing protocol’s token sale, until new investors blurred the leading position, along with 17 other token sales for decentralized technologies, including for Kyber, Icon, OmiseGo, 0x and Enigma, in which it had the highest discount. These 18 token sales have raised at least $10 million each, adding up to over $500 million. Read more:Origin Debuts OUSD, a Stablecoin That Works Like a Savings Account The digital asset fund’s holdings also include Ethereum’s native cryptocurrency ether (ETH); XRP, the digital asset closely associated with the startup Ripple; the privacy coin zcash (ZEC); and the Brave web browser’s basic attention token (BAT). Soon, the ICO funds will also trade NEAR decentralized application protocol and Filecoin decentralized file-sharing tokens. Financial filingssay Pantera’s crypto-asset funds manage over $195 million together and let investors cash out on their $100,000-plus bitcoin investments daily and alternative coin investments monthly. Including its venture funds, Pantera Capital manages assets of about $448.3 million. • Pantera Capital Crypto Funds Report 100% Returns Amid DeFi Craze • Pantera Capital Crypto Funds Report 100% Returns Amid DeFi Craze || Bitcoin and Ethereum – Weekly Technical Analysis – September 14th, 2020: Bitcoin Bitcoin rose by 0.54% in the week ending 13 th September. Following a 12.39% tumble from the week prior, Bitcoin ended the week at $10,331.0. It was a choppy start to the week. Bitcoin fell to a Monday low $9,913.8 before closing out the day up by 1.18%. Steering well clear of the first major support level at $9,445, Bitcoin rose to a Tuesday high $10,464 before hitting reverse. The reversal saw Bitcoin slide to a Tuesday intraweek low $9,882.4 before finding support. Continuing to steer clear of the first major support level at $9,445, Bitcoin rallied to a Sunday intraweek high $10,623.0. While falling well short of the first major resistance level at $11,587, breaking back through to $10,500 levels was key. 5 days in the green that included a 1.18% gain on Monday and a 1.12% rise on Wednesday delivered the upside. A 2.39% slide on Tuesday and a 1.21% pullback on Sunday limited the upside for the week, however. For the week ahead Bitcoin would need to avoid a fall back through $10,279 pivot to support a run the first major resistance level at $10,675. Support from the broader market would be needed for Bitcoin to break out from last week’s high $10,623.0. Barring an extended crypto rally, the first major resistance level and resistance at $11,000 would likely pin Bitcoin back. In the event of a breakout, Bitcoin could test the second major resistance level at $11,019 and resistance at $11,500 before any pullback. Failure to avoid a fall back through the $10,279 pivot would bring the first major support level at $9,935 into play. Barring another extended sell-off, Bitcoin should steer clear of sub-$9,500 levels. The second major support level at $9,538 should limit any downside. At the time of writing, Bitcoin was down by 0.46% to $10,283.0. A bearish start to the week saw Bitcoin fall from an early Monday morning high $10,331.9 to a low $10,259.0. Bitcoin left the major support and resistance levels untested at the start of the week. Story continues Ethereum Ethereum rose by 3.89% in the week ending 13 th September. Partially reversing an 11.04% slide from the previous week, Ethereum ended the week at $366.58. It was a choppy start to the week. Ethereum fell to a Monday intraweek low $323.17 before finding support. Steering well clear of the first major support level at $279, Ethereum recovered to end the day up by 0.27%. A bearish day on Tuesday, however, saw Ethereum fall back through to sub-$330 levels and into the deep red. In spite of a 4.59% slide on Tuesday, Ethereum continued to steer clear of the major support levels. Finding support mid-week, Ethereum rallied to a Sunday intraweek high $390.41 before sliding back. While falling well short of the first major resistance level at $458, Ethereum broke through the 38.2% FIB of $367. The pullback, however, saw Ethereum fall back through the 38.2% FIB to wrap up the week at $366 levels. 5-days in the red that included a 4.04% gain on Wednesday and a 4.83% rally on Thursday delivered the upside. A 4.59% fall on Tuesday and a 5.47% slide on Sunday limited the upside for the week, however. For the week ahead Ethereum would need to move through the $360 pivot and 38.2% FIB of $367 to support a run at the first major resistance level at $397. Support from the broader market would be needed, however, for Ethereum to break out from last week’s high $390.41. Barring an extended crypto rally, the first major resistance level would likely cap any upside. In the event of another breakout, Ethereum could test the second major resistance level at $427 before any pullback. Failure to move through the $360 pivot would bring the first major support level at $330 into play. Barring an extended broader-market sell-off, however, Ethereum should steer clear of sub-$300 levels. The second major support level sits at $293. At the time of writing, Ethereum was down by 1.94% to $359.47. A bearish start to the week saw Ethereum fall from an early Monday morning high $366.58 to a low $355.66. Ethereum left the major support and resistance levels untested at the start of the week. This article was originally posted on FX Empire More From FXEMPIRE: Platinum on Top as Gold Consolidates; Crude Remains Under Pressure A Quiet Day ahead of Busy Week Leaves the Majors in the Hands of Geopolitics TikTok to Pursue Partnership with Oracle; Microsoft Proposal Rejected Bitcoin and Ethereum – Weekly Technical Analysis – September 14th, 2020 Oil Price Fundamental Weekly Forecast – Oversupply Concerns Join the List of Bearish Factors USD/JPY Fundamental Weekly Forecast – BOJ to Offer More Optimistic View on Economy || The Week Ahead – Brexit, COVID-19 News, and Economic Data in Focus: On the Macro It’s a busy week ahead on the economic calendar , with 75 stats in focus in the week ending 4 th September. In the week prior, 47 stats had been in focus. For the Dollar: It’s yet another busy week ahead on the economic data front. In the first half of the week, the focus is on August’s ISM Manufacturing PMI and ADP nonfarm employment change figures. Following the impressive Markit survey numbers, the market’s preferred ISM survey will need to be aligned. With sensitivity to labor market conditions remaining high, expect the ADP numbers to also influence. It’s a busier 2 nd half of the week. On Thursday, the ISM Non-manufacturing PMI and weekly jobless claims figures will be key drivers. The focus will then shift to August’s non-farm payrolls and unemployment figures. Any weak numbers and expect risk aversion to sweep across the markets. The Dollar Spot Index ended the week down by 0.94% to 92.371. For the EUR : It’s a busy week ahead on the economic data front. On Tuesday, August manufacturing PMIs for Italy and Spain, and German unemployment figures are due out. Finalized PMIs for France, Germany, and the Eurozone will also draw attention. The focus will then shift to July retail sales figures for Germany on Wednesday, ahead of a busy Thursday. August’s service sector PMIs for Italy and Spain and finalized PMIs for France, Germany, and the Eurozone will also be of interest. Expect the Eurozone’s services and composite PMIs to be the key drivers, however. At the end of the week, German factory order numbers for July will also influence. Expect unemployment and retail sales figures for the Eurozone and prelim August inflation figures for member states to have a muted impact. The EUR/USD ended the week up by 0.90% to $1.1903. For the Pound: It’s a relatively quiet week ahead on the economic calendar . Finalized private sector PMIs for August are in focus in the week. Story continues Any revisions to the prelim figures need to be considered. Expect the services PMI to have the greatest influence in the week. On Friday, August’s BTC Retail Sales Monitor will also draw interest. From the Bank of England, BoE Gov. Bailey is scheduled to speak late on Thursday. The GBP/USD ended the week up by 2.00% to $1.3352. For the Loonie: It’s a busy week ahead on the economic calendar . In the early part of the week, July’s RMPI will influence on Monday. The focus will then shift to July trade figures on Thursday and August’s employment and Ivey PMI numbers on Friday. We would expect August’s employment change figure to have the greatest significance. The Loonie ended the week up by 0.59% to C$1.3099 against the U.S Dollar. Out of Asia For the Aussie Dollar: It’s a busy week ahead on the economic calendar. Early in the week, 2 nd quarter company gross operating profits, July private sector credit, and the AIG Manufacturing Index are in focus. The focus will then shift to 2 nd quarter GDP numbers on Wednesday. Finally, July trade data on Thursday and retail sales figures on Friday will also draw plenty of attention. On the economic data front, expect the GDP and retail sales figures to be the key drivers. The RBA has continued to raise uncertainty regarding consumption, which it sees as key to any economic recovery. On the monetary policy front, the RBA is also in action on Tuesday. While the markets expect the RBA to stand pat, any forward guidance will influence. Perhaps the FED’s shift in its monetary policy framework will give members food for thought… Following the spike in new COVID-19 cases in Victoria, there may also be the promise of more support. The Aussie Dollar ended the week up by 2.85% to $0.7365. For the Kiwi Dollar: It’s a quiet week ahead on the economic calendar. Key stats include August’s business confidence figures on Monday and July building consent numbers on Tuesday. Expect the business confidence figures to have the greatest impact in the week. Any fall in confidence would point to a likely further pullback in business investment and hiring. Following the RBNZ’s talk of negative rates, the Kiwi will likely be sensitive to any soft numbers. The Kiwi Dollar ended the week up by 3.09% to $0.6743. For the Japanese Yen: It is a relatively busy week ahead on the economic calendar. Prelim industrial production and retail sales figures kick start the week on Monday. Finalized manufacturing and service sector PMIs on Tuesday and Thursday will also draw interest. With economic data having been particularly gloomy, we’re not expecting too much influence on the Yen, however. The Japanese Yen ended the week up by 0.41% to ¥105.37 against the U.S Dollar. Out of China It’s a relatively busy week ahead on the economic data front. August’s NBS private sector PMI numbers are due out on Monday, ahead of the market’s preferred Caixin figures. Expect some influence on market risk sentiment. On Tuesday, the focus will then shift to the Caixin Manufacturing PMI ahead of Thursday’s Services PMI. We can expect plenty of influence from the numbers. Any pullback in the PMIs and expect risk aversion to hit the markets. The Chinese Yuan ended the week up 0.78% to CNY6.8655 against the U.S Dollar. Geo-Politics UK Politics : Just over a month remains before a framework needs to be in place. Both sides continue to dig in their heels, however. The chances of a no-deal departure remain high, with fisheries the stumbling block… U.S Politics : With the respective party national conventions over, the election polls will begin to draw interest. Trump continues to trail in spite of the U.S equity majors hitting record highs last week. COVID-19 and social unrest remain key issues for Trump and the Republicans. A ramp-up in agri purchases by China will likely be well-received, however. U.S – China Trade Talks Trade talks delivered positive news to the markets last week. China ramped up soybean imports and stated that it would stick to the phase 1 agreement. Trump may look to push for more, however, in a bid to narrow the gap with Biden. It remains to be seen whether China will play ball… This article was originally posted on FX Empire More From FXEMPIRE: The Week Ahead – Brexit, COVID-19 News, and Economic Data in Focus Gold Weekly Price Forecast – Gold Markets Show Strength Again Geopolitics, COVID-19 Updates, and Monetary Policy Drove the Markets EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – August 29th, 2020 Silver Weekly Price Forecast – Silver Markets Have Strong Week U.S Mortgage Rates Hit Reverse. Record Low Rates Continue to Drive Buyer Demand || USPS files blockchain patent to secure mail-in voting: The USPS wants to secure and stream-line mail-in voting using blockchain technology: Getty Images The United States Postal Service ( USPS ) has filed a patent application to use blockchain technology to streamline and secure mail-in voting. The ‘Secure Voting System’ patent application , published by the United States Patent and Trademark Office last week, describes how the same technology that supports bitcoin and other cryptocurrencies could be used to “track and secure the vote by mail system”. The filing comes amid claims that Donald Trump is attempting to undermine the 2020 presidential elections by incapacitating mail-in voting. The US president claims that mail-in voting is at risk to widespread voter fraud and potential foreign interference – claims that have been widely debunked. Record numbers of people are expected to vote by mail in November due to the coronavirus pandemic, which has so far claimed the lives of more than 170,000 Americans. “Voters generally wish to be able to vote for elected officials or on other issues in a manner that is convenient and secure,” the patent application states. “Further, those holding elections wish to be able to ensure that election results have not been tampered with and that the results actually correspond to the votes that were cast. In some embodiments, a blockchain allows the tracking of the various types of necessary data in a way that is secure and allows others to easily confirms that data has not been altered.” Blockchains are essentially an online ledger that are impossible to erase or edit, as it is distributed and supported by a network of computers rather than just one. The USPS filing envisions a number of ways that the technology could be implemented to improve the security of mail-in voting, including sending out QR codes linked to a digital voting system and storing voter IDs and votes on the blockchain. It is not the first time blockchain technology has been touted for its ability to revolutionise the voting process. US startup Voatz has already used its blockchain-based voting system for minor elections in the US, including the 2018 general election in West Virginia. Story continues Trump has frequently undermined mail-in voting by publicly questioning its integrity. A lawsuit filed this week accused the Republican candidate of attempting to stop postal votes for his own electoral benefit, as polls suggest more Democrats than Republicans plan to vote by mail. The complaint describes Trump’s actions as “a loathsome tactic once associated only with tin-horn dictators and banana republics.” It is not clear if or when the USPS plans to roll out or test the blockchain-based system. A representative did not immediately respond to a request for comment. Read more Bitcoin price triples in 3 months to challenge 3-year record || MinePlex CrossFi Solution To Help Users Spend Cryptocurrencies Easily Using Mobile Phones: Singapore, Sept. 24, 2020 (GLOBE NEWSWIRE) -- MinePlex, a CrossFi platform that combines traditional financial instruments' stability and liquidity with the security and transparency of blockchain technology, is developing a mobile cryptobank that will make it easy for the average person to spend cryptocurrencies in everyday purchases like food, shopping, and even paying bills. According to the whitepaper, the project's main goal " is to remove restrictions on the purchase, sale, and use of cryptocurrencies. Using the mobile app, the client will be able to safely store, trade, and borrow against digital and traditional assets. All this on just one platform." The platform's biggest audience is people using mobile phones with over 3 billion users today. This figure is expected to reach 3.6 billion by 2024. Mobile banking is gaining popularity fast worldwide thanks to convenience, speed, accessibility, and other economic benefits. The fact that you don't have to visit a physical bank is an added plus. The number of people using mobile banking services is expected to hit 85 million by 2023. MinePlex banking solution will offer the maximum benefits of cryptocurrencies combined with those of mobile banking technologies such as reduced costs on the application, saving time, reliability, and security of funds. MinePlex Ecosystem The ecosystem comprises a mobile cryptobank where users can exchange different currencies, create savings, move funds between accounts, take loans, store both crypto and fiat, etc. There is a multi-currency wallet that will aid fast and easy use of cryptocurrencies. Initially, this wallet will support the project's native tokens MINE and PLEX, with 20 more currencies added by spring 2021, including BTC, ETH, and USDT. Then there is a P2P exchange that will allow buying and selling of crypto quickly among users at the best rates. It will be tied to your account, saving time and simplifying the exchange process. This exchange will accept various fiat currencies to facilitate payments. Story continues Finally, there is the MinePlex debit card that will help users use digital currencies anywhere without restrictions and overpaying fees. All service benefits will be accessible using the project's native tokens. And the card will be compatible with payment systems such as Visa, MasterCard, and UnionPay. Also, users of the card will be able to access various sectors, including finance, transport, and education. For example, when traveling, a user will be able to convert crypto/fiat into local currency and pay for tickets and hotels. About MinePlex MinePlex is a new generation cryptobank that has its own liquid token. Its solution is finely balanced between blockchain technology, traditional financial systems, and mobile applications. Click here to see the project's whitepaper. Media contact information: Name: Alex Mamasidikov Company name: Mineplex PTE LTD Email: [email protected] Website: mineplex.io [Random Sample of Social Media Buzz (last 60 days)] None available.
Trend: up || Prices: 11384.18, 11555.36, 11425.90, 11429.51, 11495.35, 11322.12, 11358.10, 11483.36, 11742.04, 11916.33
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 2022-05-04] BTC Price: 39698.37, BTC RSI: 48.44 Gold Price: 1867.00, Gold RSI: 37.96 Oil Price: 107.81, Oil RSI: 56.23 [Random Sample of News (last 60 days)] German Authorities Shut Down Russian Darknet Market, Seize $25M in Bitcoin: Don't miss CoinDesk'sConsensus 2022, the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12. German authorities seized $25 million in bitcoin (BTC) as they shut down Hydra Market, saying they had closed one of the world's largest darknet markets. • The cybercrime office of the Frankfurt prosecutor's office and federal criminal police confiscated 543 BTC as they "secured" the site's servers, according to a federal policestatementon Tuesday. • Federal police found 17 million customers and 19,000 seller accounts. Hydra Market probably had the highest turnover among illegal marketplaces in the world, according to the statement. In 2020, the marketplace had €1.23 billion ($1.35 billion) in revenue, the police said. • The Russian-language marketplace also had a built-inbitcoin privacy mixer, which complicated tracing the transactions, said the police statement. • Hydra Market had been operating since 2015 and was accessible via the Tor browser. The site has been taken off the internet. • The market was mainly used for narcotics, and served Russia, Ukraine, Belarus, Kazakhstan, Azerbaijan, Armenia, Kyrgyzstan, Uzbekistan, Tajikistan and Moldova, according to blockchain forensics firmCiphertrace. • The investigation started in August 2021 and also involved U.S. authorities, the police said. Read more:International Police Seize $4.9M in Crypto From Alleged Darknet Drug Traffickers || Luna Foundation Treasury Holds Almost 40,000 BTC After Weekend Purchase: Don't miss CoinDesk'sConsensus 2022, the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12. The Luna Foundation Guard (LFG), the treasury that backs the TerraUSD algorithmic stablecoin, added $173 million in bitcoin (BTC) to its wallet over the weekend via a series of buys. • LFG now has 39,897.98 bitcoin in its wallet, worth approximately $1.67 billion. • During the past week, the LFG has made a series of digital asset buys: It purchased$230 million of bitcoinon April 6 and$200 million in AVAXon April 8. • Terra’s founder Do Kwonhas previously saidthat the foundation plans to acquire $10 billion in bitcoin to “open a new monetary era of the bitcoin standard.” • The price of bitcoin didn’t seem to move on the news, as it's down approximately 2% in the last 24 hours to $42,037 according toCoinDesk market data. || Ethereum Trumps Bitcoin As Crypto Gains Cross $162B: Chainalysis: • Investors in 2021 noted $162 billion worth of gains. • Most gains stemmed from Ethereum instead of Bitcoin, as one would expect. • Both the coins are currently on the path to recovery. According to Chainalysis’ 2021 Cryptocurrency Gainsreport, thecryptomarket experienced one of the most successful years, withBitcoinand other altcoins building on the bullish momentum generated towards the end of 2020. Last year most of the cryptocurrencies achieved their all-time highs around May before the Elon Musk/Teslainduced market crash hurt investors. But the recovery of half the market towards October and November helped the market end the year on a profitable note. In doing, so, investors managed to gain a total of $162 billion across all cryptocurrencies. This marks a 400% increase in profits compared to 2020, when investors only made $35.6 billion in addition to their investments. The United States realized the highest profits, which alone managed to rake in $47 billion, followed by the UK, Germany, Japan, and China, with profits ranging between $8.1 billion to $5 billion. However, crypto gains do not represent the true economic status of the country as the likes of Ukraine, which ranks 40th in GDP at $576 billion, managed to climb to the 13th place in realized cryptocurrency gains at $2.8 billion. When we look at the individual currency’s profits beyond geographical prosperity, surprisingly,Ethereumsurpassed the king coin Bitcoin is realized gains in 2021. Bitcoin was followed byXRP,Dogecoin, andAAVE, while the likes ofCardano,Solana, andLUNAdidn’t even make it to the list. They could certainly make it to this year’s list, provided they can manage to mark a new ATH significantly higher than the previous one by the end of this year. As Ethereum proved to be a more preferred and profitable investment than Bitcoin in 2021, investors will once again try to capitalize on that success by investing in the two coins this year. And most of it could take place now as the broader market is beginning to recover. Bitcoin has risen by 6.81% in the last 72 hours, with the price crossing the $42k mark. The rise significantly helped BTC retest the 100-day Moving Average (blue) as support and is looking to do the same with the 50-day Moving Average (red). Ethereum, on the other hand, was also saved from falling below $3k over the week and is currently trading at $3,131. However, it still stands 34.85% away from the all-time high of $4,811 but above the 50-day MA and 100-day MA, inching towards soon testing the 200-day MA (yellow) as resistance at $3.5k. Thisarticlewas originally posted on FX Empire • Silver Markets Plunge Toward 50 Day EMA • Natural Gas Markets Trying to Stabilize • NFT Marketplace OpenSea Files New Trademark Applications • Silver Remains Under Pressure As Gold Settles Below $1950 • Euro Gives up Early Gains • Bitcoin and ETH Regain Traction, Why LUNA’s Rally Isn’t Over Yet || Yuga Labs’ Acquisition of CryptoPunks’ IP Sends Bored Apes Soaring: It’s not everyday that the hottest two projects in an explosive asset class merge. That’s what happened on March 11 when Yuga Labs, the company behindBored Apes Yacht Club(BAYC),announcedthe acquisition of the intellectual property rights (IP) ofCryptoPunks. The market responded as dramatically as you’d expect: Bored Apes’ floor has jumped 18% to almost 90.0 ETH, while Punks’ is down 6% to 72 ETH. The two projects were within less than one ETH of each on the day of the announcement, with BAYC’s floor at 76 ETH and CryptoPunks’ at 76.34, according to aDune Analytics dashboardwhich compares the two. At $1.4B according toCryptoSlam, BAYC has the second largest sales volume of all-time, trailing only CryptoPunks, which is $2.1B. Yuga Labs also acquiredMeebits’ IP as part of the deal; both Meebits and CryptoPunks were created byLarva Labs. The BAYC creator is now drafting new terms and conditions for its two new collections per the company’sannouncementof the acquisition. CryptoPunks was famously embroiled in acontroversylate last year when the NFT collection’s restrictive andmurky, copyright led Punk4156, the well-known founder ofNouns DAO, to sell his namesake punk for $10.2M worth of ETH. With Yuga Labs’ acquisition, the company plans to grant CryptoPunks and Meebits the same commercial rights thatBAYC holders have, which allow holders to do things like display their specific Bored Ape on abasketball shoe. The reactions to Yuga’s move were close to shock — Bored Apes and Punks have always been seen as neck-and-neck competitors. “Yuga Labs just acquired the rights to Punks and Meebits,”tweetedZenenca, anNFT investorand content creator. “I’m basically speechless now; wow. This is huge. What’s everyone’s first reaction?” Exclusive DappRadar Report: Why are NFTs Sidestepping the Crypto Crash? Mixed is the answer. In a way, the acquisition emphasizes the dissonance of copyright issues as a whole in crypto, which is, after all, a place where open-source code is the norm. If someone can fork your code and do it better, that’s generally considered fair game. SushiSwap’s fork of Uniswap is aprime example. Having to think about what a person is allowed to do with their asset contrasts with the self-sovereignty of owning BTC or other cryptocurrencies — the whole point is you can do what you want when you want. On the flipside, Yuga Labs looks to be loosening up CryptoPunk’s restrictive IP, which may allow them to better steward the project and bring it closer to a decentralized ethos. Indeed, Larva Labs itselftweetedthat the company was ill-equipped to continue to grow CryptoPunks and Meebits at this stage in the projects’ maturity. ‘Their only plan is to give punk holders something they have been asking for a long time: commercial rights over their punks. And now you fade it?’ Crypto influencer 0xquit, is thinking that the acquisition represents progress for CryptoPunks. “Yuga said they plan to let the collection be,” theytweeted. “Their only plan is to give punk holders something they have been asking for a long time: commercial rights over their punks. And now you fade it?” DCinvestor, another influential voice in the Ethereum community, thinks NFT projects with aCreative Commons license(CC0), may emerge as winners in the aftermath of the acquisition. “Yes, I’m buying up a bunch of CC0 NFTs,” the influencertweeteda day after Yuga Lab’s made its announcement. “I’m sure it’s just a coincidence that I’m doing it today,” he joked. In a nutshell, with CC0 projects, anything goes. Just because a person owns a CC0 NFT, that doesn’t give them exclusive rights to its IP. CC0 projects include Nouns,Cryptoadz, andmfers. DCinvestor didtweetthat he thought Yuga Labs will be “OK” stewards of CryptoPunks for the time they own the collection’s IP, but generally appears uncomfortable about supporting the project now: “I’m just not gonna work to promote their corporate IP.” The influencer changed his profile picture to an image of the CC0-licensed, mfers collection in the days following Yuga Labs’ acquisition. Still DCinvestor hasn’t written off proprietary IP models entirely — heagreedwith another influential CryptoPunk holder, 6529, that the standards for NFTs are still in flux, and that some people may accept projects with business-owned commercial rights. Read the original post onThe Defiant || Solana’s SOL Highest Gainer Among Major Cryptos as Bitcoin Holds $47K: Don't miss CoinDesk's Consensus 2022 , the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12. Solana’s SOL token led gains among major cryptocurrencies as the broader crypto market remained flat on Thursday following strong momentum from earlier this week. Ether (ETH) remained flat at the $3,400 mark alongside binance coin (BNB) and XRP. Avalanche’s AVAX token rose 7% as its first-ever developer and community conference drew to a close this week. Crypto markets added 0.7% in the past 24 hours with strong gains in cryptocurrencies with a market capitalization between $1 billion and $5 billion. Zilliqa's ZIL tokens surged 20%. The token is up 289% since last week. Meanwhile, IOST surged as much as 40%. Some analysts said capital rotation to altcoins came as risk appetite returned among investors. “There is a search for new ideas, away from institutional capital and the eyes of politicians,” FxPro market analyst Alex Kuptsikevich said in an email to CoinDesk. “There is an influx of stablecoins to centralized platforms, which may indicate the interest of investors in the upcoming purchases of cryptocurrencies.” SOL jumped 14% to $127 in the past 24 hours. That's a two-month high and close to resistance of $130. Growth came as OpenSea – the biggest non-fungible token (NFT) marketplace by volume – said it will start to support Solana-based NFTs on its platform in April. SOL hovers just below its resistance level of $130. (TradingView) Bitcoin (BTC) held above the $47,000 mark as blockchain entity Luna Foundation Group (LFG) continued to bid on the asset. LFG seeks to purchase over $10 billion in bitcoin as a reserve for Terra’s UST stablecoin. It is building a bitcoin-denominated reserve as an additional layer of security for UST, the fourth-largest stablecoin in circulation, as reported . Price charts show bitcoin continues to hold above its 200-day moving average at $47,200, building up strength ahead of a likely move to over $53,000, according to some traders . The decline in U.S. stocks on Wednesday after four days of gains also didn't contribute to the positive dynamics, the traders said. Bitcoin could move higher in the coming months, analysts say. (TradingView) U.S. indexes suggested mixed sentiment ahead of Thursday’s open. The Dow Jones Industrial Average dropped 0.04%, while the technology-heavy Nasdaq rose 0.28%. Elsewhere, gold lost 0.23%, and crude oil fell as much as 6%. || FOREX-Hawkish Fedspeak keeps dollar king, yen slumps to 20-year low: By Kevin Buckland TOKYO, April 15 (Reuters) - The dollar rose to a two-decade peak against the yen and kept close to a two-year high to the euro on Friday, as more hawkish comments from Federal Reserve officials reinforced expectations for faster U.S. policy tightening. The greenback was 0.43% higher at 126.40 yen after earlier reaching 126.56 for the first time since May 2002. The euro slipped 0.14% to $1.0812, heading back toward the overnight low of $1.0785, a level unseen since April 2020. New York Fed President John Williams said on Thursday that a half-point rate rise next month was "a very reasonable option," in a further sign that even more cautious policymakers are on board with faster monetary tightening. By contrast, European Central Bank President Christine Lagarde said around the same time that there was no clear timeframe for when ECB rates would start to rise, adding that it could be weeks or even several months after the central bank winds down its stimulus scheme in the third quarter. "Williams spoke openly of the need to move rates more swiftly and above neutral," further buoying the dollar, Tim Riddell, a macro strategist at Westpac wrote in a client note. By contrast, the ECB "revealed a more dovish reaction function to the inflation news than the market had discounted," he said. U.S. Treasury yields resumed their climb overnight, following a two-day decline, further buoying the greenback. Treasuries did not trade in Tokyo on Friday because of the Good Friday market holiday in the United States, as well as other regions including Australia, Hong Hong and the U.K. The dollar index rose 0.08% to 100.48, edging back toward the two-year high of 100.78 reached on Thursday. For the week, it has climbed 0.64%, while the euro has dropped 0.58%. Against the yen, the dollar has climbed 1.71%, heading for a sixth straight winning week. Japanese Finance Minister Shunichi Suzuki warned on Tuesday that the government is watching yen moves and their impact on the economy "with a sense of urgency". "Despite repeated verbal intervention over the past few weeks from Japanese policymakers, USD/JPY has continued to rise alongside higher U.S. yields," Goldman Sachs analysts wrote in a note. "The odds of direct FX intervention are rising, in our view," and "should increase significantly once USD/JPY enters the 127-130 range," they said. Meanwhile, the Australian dollar hovered near a three-week low of $0.7392 reached on Wednesday, last trading down 0.2% on the day at $0.7404. Cryptocurrency bitcoin continued to consolidate close to a four-week low of $39,218.15 reached on Monday, last changing hands at $40,005.50. "Bitcoin is in the danger zone as risky assets are tumbling as the bond market selloff resumes," Edward Moya, a senior market analyst at OANDA, wrote in a note. "If it breaks below $38,000, it could get ugly real fast." (Reporting by Kevin Buckland; Editing by Simon Cameron-Moore) || In Times of Inflation Vinter and ByteTree Makes a BOLD Bet on Bitcoin and Gold: Stockholm, 27 April 2022 - Vinter, the leading crypto index provider, announces the launch of the BOLD1 index - providing investors with exposure to bitcoin and gold. The index will be underlying financial products as of today. Inflation in Europe is at its highest level since the euro was introduced. Eurostat has estimated the year-on-year inflation rate for consumer prices in March to be 7.4%, far above the 2% target set by the European Central Bank. As a result, investors have started searching for havens from what could become the worst inflation in four decades. The Vinter Bytetree BOLD1 Inverse Volatility Index ("BOLD1") is an index containing bitcoin and gold, weighted such that an equal amount of risk is invested into both assets. The more volatile bitcoin is (relative to gold), the lower the weight in bitcoin. Jacob Lindberg, CEO and co-founder of Vinter, said: “Gold is a risk-off asset, whereas bitcoin is a risk-on asset. Thanks to their similarities and dissimilarities, combining the two assets in a portfolio makes sense. In times of inflation, hard assets and stores of value are usually smart investments.” Charlie Erith, CEO at ByteTree, added: “Gold has historically delivered portfolio protection in inflationary environments while bitcoin is the digital equivalent of gold with growing adoption by investors as a distinct asset class and a core store of wealth. In a time of rising structural inflation and heightened geopolitical risk, we believe this can act as an important risk and return diversifier in a balanced portfolio.” Media relations Vinter | Marco Poblete |[email protected] About Vinter Vinter is Europe’s fastest-growing index provider specialized in crypto assets, playing a pivotal role in the emerging crypto ETF industry. The firm collects digital asset data from hundreds of sources, transforming proprietary strategies into investable products. For more information, please visitwww.vinter.co. Disclaimer Vinter is not a registered investment or tax advisor or a broker/dealer. The content of this document is intended only to provide general and preliminary information and shall not be construed as investment, tax, legal or financial advice. The reader shall ensure that all of their investment decisions are not made based on the content of this document and shall be solely responsible for all financial losses made in connection with investment decisions. Nothing contained in this document constitutes a solicitation, recommendation, endorsement, or offer by Vinter or any third party associated with Vinter to buy or sell any financial instruments in this or any other jurisdiction. Although best efforts are made to ensure that all information on this document is accurate and up to date, unintended errors and misprints may occur occasionally. Invierno AB (559207-4172) is the legal name of Vinter. It is a registered Benchmark Administrator by Finansinspektionen (FI) and the European Securities and Markets Authority (ESMA) under Article 34 of the European Benchmarks Regulation (2016/1011). Various intellectual property rights protect Vinter and its indexes. All third-party use of Vinter and its indexes require by law a licensing agreement with Vinter. || 7 Large-Cap Growth Stocks to Go Gaga For: Institutional investors are frantically repricing stocks. That is creating an opportunity for these large-cap growth stocks. Advanced Auto Parts ( AAP ): We’ll still be squeezing some miles out of our current rides for a little longer Advanced Micro Devices ( AMD ): You can trust the analysts or your intuition on this oversold semiconductor stock Roku ( ROKU ): A logical choice for investors seeking exposure in the continued growth of the streaming sector Shopify ( SHOP ): The stock looks like a buy if you believe that consumers may be looking for relief from inflation and a slowing economy Chipotle Mexican Grill ( CMG ): The pioneer of fast casual dining continues to expand and beat expectations John Deere ( DE ): The company has three immediate catalysts to fuel growth in 2022 Enphase Energy ( ENPH ): One of the leading solar stocks is ready to move higher after posting strong earnings a person in a suit waters a topiary plant trimmed to look like a stock trend arrow pointing up, represents growth stocks Source: Shutterstock There are disadvantages to getting older (like the ache in my knee after my run today). But one advantage of aging is a longer time horizon when trying to get perspective on the stock market. Some investors are getting their first exposure to what some analysts are calling a secular bear market. So I understand that it may be difficult to focus on large-cap growth stocks or any kind of growth stock. But if you’ve got a longer time horizon and some cash on the sidelines, you need to consider at least where, if not when, to jump back into the market. 7 A-Rated Dividend Stocks to Buy Forever Institutional investors are frantically repricing stocks in anticipation of two rate increases of at least 50 basis points. And growth stocks, which were already under pressure, are dropping even further. That is creating an opportunity for aggressive investors who are willing to look at the longer term narrative for these large-cap growth stocks. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Ticker Company Current Price AAP Advanced Auto Parts, Inc. $209.32 AMD Advanced Micro Devices, Inc. $89.64 ROKU Roku, Inc. $91.63 SHOP Shopify Inc. $443.28 CMG Chipotle Mexican Grill, Inc. $1,500.82 DE Deere & Company $384.82 ENPH Enphase Energy $164.47 Large-Cap Growth Stocks: Advanced Auto Parts (AAP) Advance Auto Parts store exterior and sign Source: Ken Wolter / Shutterstock.com Story continues One company’s supply chain crisis is another company’s tailwind. Automakers continue to have a difficult time keeping up with the demand for new cars. That means that millions of consumers are deciding to hold on to, and maintain, their current vehicles. This has been a boon for auto parts companies. And one of the best of that bunch is the first of our large-cap growth stocks: Advanced Auto Parts (NYSE: AAP ). An investor who bought the stock at its pandemic low on March 20, 2020 would be sitting on a 200% gain. But let’s look at a different comparison. If you bought the stock on Dec. 27, 2019, you would have a 42% gain. And here’s one more. Investors who bought the dip in AAP stock on the dip created by the Russian invasion of Ukraine are sitting on a 14% gain. And with a median price of $269.34 which is a gain of nearly 20% from the stock’s current price. And investors get a nice dividend which currently has an attractive yield of 2.7%. Advanced Micro Devices (AMD) Sign of AMD office in Markham, Ontario, Canada. Advanced Micro Devices, Inc. (AMD) is an American multinational semiconductor company. Source: JHVEPhoto / Shutterstock.com In market sell-offs institutional investors frequently sell first and ask questions later. That often means that entire sectors are priced lower, which creates opportunities for opportunistic investors. That’s the set-up I see for Advanced Micro Devices (NASDAQ: AMD ). AMD stock is down almost 50% from its 52-week high set in November 2021. The broad sentiment for semiconductor stocks is turning bearish on thoughts that the sector may be topping out. Whether or not that’s the case, investors can still appreciate the market share gains that AMD enjoys over rivals like Intel (NASDAQ: INTC ). And Advanced Micro Devices supplies computer chips for some of the most compelling tech sectors. One such sector is data centers. That’s one reason that Raymond James recently upgraded AMD stock to a “strong buy” with a $160 price target. That would put the stock nearly back to its 52-week high and the consensus price target suggests the stock may go even higher. Roku (ROKU) ROKU Stock Will Continue Benefitting From the TCL Partnership Source: Michael Vi / Shutterstock.com Even before the pandemic, Roku (NASDAQ: ROKU ) was seen as a strong growth stock. But after the Netflix (NASDAQ: NFLX ) earnings report, many investors are questioning their exposure to streaming stocks. However, that concern is not likely to extend to ROKU stock even though you can buy the stock at a steep discount. Here’s why Roku makes this list of large-cap growth stocks. The streaming business is about the lock and the key. Roku provides both, but it primarily provides the key with its signature operating system being the platform that streaming giants want to be on. But unlike streaming services, Roku is not solely reliant on digital advertising for its revenue. However, the downside of having physical products to sell is that Roku is not immune from supply chain difficulties. And the company does believe that is a situation that will persist through 2022. But the company continues to grow its active base of viewers, ad revenue and market share. All of which should continue to show up on the company’s balance sheet. Large-Cap Growth Stocks: Shopify (SHOP) shopify logo sign on building facade Source: Beyond The Scene / Shutterstock.com Of all the large-cap growth stocks on this list, Shopify (NYSE: SHOP ) is the one that I’ll admit to being the least comfortable with. There are two narratives taking place. One is that, similar to Netflix, Shopify pulled much of its demand forward. Now that consumers have more options for spending their time, they may choose to invest in activities other than e-commerce. The competing narrative is that many individuals started businesses during the pandemic. In some cases, these side hustles have now become secondary, or even primary, income streams. And it’s been in this small and medium-sized businesses are the lifeblood the cloud-based e-commerce platform. This leaves a range of outcomes possible. And that admittedly gives me pause. Nevertheless, I believe that consumers have discovered the merits of e-commerce. And unlike streaming services, the demand for goods and services will remain relatively constant. Plus, if the economy weakens as some suspect, then consumers may be turning back to e-commerce to conserve gas and also to combat inflation. Chipotle Mexican Grill (CMG) a pedestrian walks past a Chipotle (CMG) Source: Northfoto / Shutterstock.com Like many growth stocks, analysts are starting to re-evaluate Chipotle Mexican Grill (NYSE: CMG ). And it wasn’t going to take much for analysts to look sideways at a stock that many investors consider to be expensive even for a growth stock. In fact, in late April, at least four analysts lowered their price targets for the fast-casual chain. However, in every case the new price target is still significantly higher than the current CMG stock price. And not all the news is bad. Citigroup raised its price target for the stock. This love/hate relationship is nothing new for Chipotle. However, skeptics have been burned in the past. The company has beaten the odds on more than one occasion. The company delivered a strong earnings report when it reported earnings in February. But more importantly, the company reiterated its plans to continue to expand its footprint by 250 locations in this year alone. Deere & Company (DE) Several John Deere vehicles are parked outside of a building. Source: Jim Lambert / Shutterstock.com Another of our large-cap growth stocks is in the industrial sector. Deere & Company (NYSE: DE ) is known for its signature green and yellow equipment. And the company’s fleet of tractors, backhoe loaders, excavators, and other industrial equipment will likely be in high demand for several reasons. First, infrastructure funding needs to be spent. Second, farmers will be attempting to capitalize on rising crop prices. And third, demand for new home construction remains strong. For all the reasons to love Deere stock, it has not been immune from the repricing that is taking place. And right now, investors can get DE stock at a compelling discount from where it was just a week ago. It may be that investors are trying to get in position for the company’s earnings which will take place in May. Deere beat on the top and bottom lines in February. If it delivers a repeat performance, the price target and the stock price is likely to rise. Large-Cap Growth Stocks: Enphase Energy (ENPH) mobile phone screen with enphase energy logo on it to represent renewable energy stocks Source: IgorGolovniov / Shutterstock.com In a terrible week for the broader market, the post-earnings gain of over 7% for Enphase Energy (NASDAQ: ENPH ) stands out. The company is one of the leading names in the solar sector. But it’s not a panel manufacturer. Rather the company uses inverter technology to ensure that homes can bank the solar energy from solar panels and make it available for use at night or on cloudy days. In addition to beating on both earnings and revenue, the company spoke at length about its expansion in Europe . This is being accelerated by the Russian invasion of Ukraine as homes and businesses now believe that the use of renewable energy solution is imperative to becoming energy independent. Since this narrative will likely extend over several years, the company will have a long runway for growth. On the date of publication, Chris Markoch 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 7 Large-Cap Growth Stocks to Go Gaga For appeared first on InvestorPlace . || PODCAST: Which Documents to Keep, Which to Shred and Which to Scan: photo of a cat on a desk next to a computer and some documents Getty Images Subscribe FREE wherever you listen: Apple Podcasts | Google Podcasts | Spotify | Overcast | RSS Links mentioned in this episode: Now You Can Own Bitcoin in 401(k)s. Should You? Trading Options for Your 401(k) US Department of Labor cautions 401(k) plan fiduciaries to exercise extreme care as they consider cryptocurrencies Create a Financial Plan for Natural Disaster How to Protect Your Home from Natural Disasters with the Right Insurance Transcript: David Muhlbaum: What documents can you throw out, and which must you save, and where do you put them, is a debate as old as, well, writing things down. But technology and natural disasters have thrown in a few new twists. We’ll explore the latest on keeping records safe and accessible with Rivan Stinson of Kiplinger’s Personal Finance . Also, you might be able to invest your 401(k) savings in Bitcoin, all coming up in this episode of Your Money’s Worth . Welcome to Your Money’s Worth . I’m kiplinger.com senior editor, David Muhlbaum, joined by my co-host, Kiplinger senior editor Sandy Block. Sandy, how are you doing, and for chuckles, tell the good people where you are. Sandy Block: I’m at a state park in West Virginia that has good wifi, and more importantly, a good bar. David Muhlbaum: And a little room. You have your own little subsidized recording studio in there. Sandy Block: I’m in the business center, which shockingly on a beautiful spring day, is totally empty. Everybody else is at the bar or the golf course. David Muhlbaum: Yeah. Well, good. The truth is that we are still recording remotely here, with me and Sandy just waving at each other, and sometimes the guests, through a screen. But we have obtained a new mixing board for our studio at the offices. We are planning a return to recording in the shared human space. Will anyone notice? I don’t know yet. I’m looking forward to recording without worrying about leaf blowers, or one of our dogs barking in the background. Anyway, that’s the future, hopefully the near future. For now, Sandy, a story that absolutely caught my eye this week was the news that it’s going to be possible, at least for some people probably, to invest in Bitcoin in their 401(k) . Story continues Sandy Block: That’s right. The 401(k), which is going to be the pension plan for most of us, is messing around a little bit with cryptocurrency. Making matters even more interesting, Fidelity Investments, a giant in the 401(k) area, is the one that is involved in this. David Muhlbaum: Yeah, it makes it this powerful headline. But splashy as it is, it hasn’t upended the retirement investing world, or 401(k)s . Look, I tend to think of it as like that’s where you invest a portion of your salary in a nice, diversified well-managed range of mutual funds, not Bitcoin, which is speculative. I’m not even arguing about the merits of crypto here. It’s not the time. I’m just saying, look at the trading range of Bitcoin, that’s volatile, that’s speculative. Sandy Block: That’s right. If you think the stock market is volatile, take a look at Bitcoin. David Muhlbaum: So, why? Sandy Block: Well, I think that, certainly among young people, there is a lot of interest in Bitcoin . Fidelity is a business, and it wants to meet its customers needs. It certainly got Fidelity a lot of attention with this announcement. I think the more you hear about Bitcoin, for many people, that’s the only way they can invest is through their 401(k). So, maybe they think this is something that might catch on. David Muhlbaum: Okay, but let’s sort out for a second who the customers are. Because Fidelity is the plan provider. They’re supposed to provide the platform by which you can invest 401(k) money. They don’t tell you what to do. Those choices of what options you can invest in, that goes to whatever company wants to use Fidelity to administer its 401(k). Sandy Block: Right, and even then, just because they’re using Fidelity doesn’t mean that they’re going to automatically offer Bitcoin. David Muhlbaum: It’s a choice for the customers to do that. Sandy Block: That’s right. The customers, unlike Fidelity, have a fiduciary duty. They are required basically to make sure that the funds, and investments that they offer their workers ... It’s the federal law. It will be interesting. My guess would be that maybe some high tech companies that have a lot of young, crypto minded employees might wade into this. But really the trend in the most recent years is making 401(k)s simpler, not harder. What they found is people don’t like a lot of choices in their 401(k)s. That’s why such a huge amount of money now goes into target funds, where basically you put the money and then sit back and let somebody else manage it for you. A lot of people really do not want to get down and dirty in their 401(k)s. They would rather have someone else do it and not have to worry about it. David Muhlbaum: At the same time, there is this subset of people who very much do want to trade and fiddle around. There’s the brokerage window, which you’ve written about, the ability to trade stocks in a 401(k) . That’s popular? Sandy Block: It’s not. The number of people who actually use the brokerage window is very small. David Muhlbaum: Okay, but they care. I guess that’s what I was getting at, they care. Sandy Block: Yeah. But what the brokerage window does, a large company 401(k) plan might say, "Here are three target funds," an index fund and a growth fund, and maybe offer 10 funds to invest in. Then they’ll also say, "If you would like to invest in more types of things, you can go into the brokerage window." Oftentimes a brokerage window will offer a much broader variety of mutual funds and individual stocks. Sandy Block: Oftentimes the fees are higher, and as I said, the take up of these has not been that great, but it is a way for a company to say, "If you really want to go a little wild with your 401(k), we will let you in your brokerage window, but we are not selecting these funds for you." When you go into the brokerage window, you do that yourself. David Muhlbaum: Right. But there is a potential tax advantage here too, for both the stocks, and very much crypto? Sandy Block: I think one of the advantages of investing in cryptocurrency or Bitcoin in your 401(k) is that taxes on your gains are deferred until you take the money out. What a lot of newbie Bitcoin and cryptocurrency investors don’t realize is, for the purposes of the IRS, they are treated just like any other asset. If you make a lot of money in Bitcoin and sell it, you owe capital gains on that amount . If you trade crypto, if you trade Bitcoin, and it gets real high, and you take some money off the table and reinvest it, well you’re going to owe taxes on that money. The IRS is so concerned about this, that it’s right up there on your 1040, "By the way, if you owned any cryptocurrency and you made money on it, you have to pay up." David Muhlbaum: Right. But for the 401(k) investor, yes, they won’t be taxed on those gains. On the other hand, they can’t touch them either because it’s a retirement account. Sandy Block: That’s right, it has to sit there until you retire, and then you will pay taxes on your gains. But you’re right. I read all these stories about, "I invested in Bitcoin and now I bought a car." Well, you’re not going to buy a car with the Bitcoin that you buy in your 401(k), unless you take it out, in which case you’d pay both tax and penalties on it if you were under 59½. So, certainly the money that you invest into Bitcoin in your 401(k) is not money that you want to get at any time soon. David Muhlbaum: Yeah. We’re not the only people sounding caveats about this idea. The Department of Labor has gone all Debbie Downer on it too, so how do they fit in? Sandy Block: Well, yeah, this week, the Department of Labor said they have grave concerns about what Fidelity has done. David Muhlbaum: Grave concerns. Sandy Block: Grave concerns. That should be a concern for employers, because private employers that offer 401(k) plans have a fiduciary responsibility to manage their plans in the best interest of their employees. The federal government department that is in charge of enforcing that fiduciary responsibility is the Department of Labor. So, if the Department of Labor isn't crazy about this idea, that’s not going to go unnoticed by companies that want to stay on the good side of the law. David Muhlbaum: Right. So, the company has the legal responsibility, and the Department of Labor is looking over their shoulder making sure that they’re staying in the lines? Sandy Block: Right, they’re the ones who administer ERISA, which is the law of the land governing pension plans, and 401(k) plans, and things like that. Basically it’s the law of the land that says if you’re a company with a 401(k) plan, you can’t cash it out and go on a cruise or something like that. So, it’s serious. David Muhlbaum: All right Sandy, we will see how this one shakes out. Fidelity and the crypto community versus the Department of Labor. Coming up next, we will talk to Rivan Stinson about documents. Which ones to keep, which ones to shred, and which ones to keep near you in case of emergency. All coming up next on this episode of Your Money’s Worth . Which Documents to Keep, Which to Shred and Which to Scan David Muhlbaum: Welcome back to Your Money’s Worth . Joining us for today’s main segment is Rivan Stinson, a staff writer for Kiplinger’s Personal Finance. While she’s covered all sorts of topics for Kiplinger, when we last had her on Your Money’s Worth , it was to talk about insurance coverage for natural disasters. Today we’ve got disaster on the brain as well, because we want to talk about, in part, recovering from disaster, the paperwork part, that is. So, welcome Rivan. It’s nice to have someone to turn to for a disaster. Rivan Stinson: I guess. Sandy Block: You know, we could have Rivan talk about the cost of pet care. That’s been another one of her big topics. Rivan Stinson: Yeah, my cat takes all my money, and he probably wants a sibling. David Muhlbaum: Well, I think it would be great if we could have Nikon join in. Will he sign the release? Rivan Stinson: Yeah, I’ll put his paw print on it. David Muhlbaum: Cool, because nothing sells online quite like pictures of cats. But how about this for a topic then, Rivan? What to do with your pet when disaster strikes? Like when you have to evacuate, nobody wants to leave their pet. Rivan Stinson: Well, no. One, let’s hope that they get in the carrier. Bring them some food, water, their meds. Thank God I don’t have a sickly cat. But my problem would be getting him in the carrier. David Muhlbaum: Yeah, of course. Okay, what about something like a rabies certificate in case you were being evacuated and having to go live somewhere else? Rivan Stinson: Well, I wouldn’t have thought about that. I would just hope the vet still has it. David Muhlbaum: Right. In some places they give you an actual physical tag, like a little piece of metal. On my dog, it's on her collar. You see what I was doing there? I was getting us from pets back to documents, because that’s kind of at the core of what I want to talk about. You have an emergency of some sort, and to recover from that, you are going to need access to documents. So, the core of the question, and what you’ve been exploring, Rivan, is which documents do you have to physically have with you, which can you scan, and which can you not worry about? So, that’s what I want to get to. Rivan Stinson: Okay. Well, the easiest answer was that you can scan everything. The issue comes moreso, when do you need an original document versus a scan or a copy? Usually that’s moreso going to deal with your birth certificate. States, and any type of government agency, just does not like a copy of your birth certificate, in terms of the scan. They want that original piece to say what hospital you were born in, who is your mother, who is your father, everything like that. For that, you want to store it somewhere that will not get destroyed. Nine times out of 10, that is going to be a safe deposit box, or if you have a fireproof safe. You need to get it out of the house, put it in a Ziploc bag so nothing floods. But in everything else, digitize it. You should keep your Social Security card with your birth certificate as well. But when was the last time you pulled out your Social Security card? I rarely do, I just write my number down. David Muhlbaum: Rivan, for someone concerned about a natural disaster at their doorstep, they know they need a go bag, packed with what they and their family absolutely must take with them. But the idea of going to the file cabinet, and getting a packet of critical documents and cramming that in there, you’re saying that’s obsolete? Rivan Stinson: Yes. Because nine times out of 10, you probably have everything on your computer, on your phone already. David Muhlbaum: You should. Rivan Stinson: Or you should. Because let me take that back, my father does not, but he does have a safety deposit box, and I know where the key is at. In those types of situations, you can also probably grab your license. That is the first thing. Sandy Block: Your driver’s license? Rivan Stinson: Your driver’s license. First line of defense, in terms of identifying who you are to do things. These other documents, let’s think insurance policies, maybe a healthcare directive , you have a copy somewhere in the internet ether, and that’s because it’s a login account. But now with technology also comes other issues of just remembering your 50 million passwords to get into all of these places. For that, it’s more so where are your passwords? Again, if you are old school like my dad and writes all his things down, you keep that list of passwords and your safety deposit box. Or if you’re a little more tech savvy, you can share it with a trusted friend or family member. You need to have a backup to make sure you can log back into your accounts. Sandy Block: For a lot of people, Rivan, this might sound like a lot of work. I know one of the things we’ve talked about is, for example, doing an inventory of everything you own for purposes of filing for insurance. But hasn’t technology made that a little easier now? Rivan Stinson: Yes. It’s literally as simple as downloading an app on your smartphone, either yours or your kid’s. Or if you happen to have a newer printer, which I do, that has a scanner, and it’s Bluetooth, put them right in there and do it. It’s moreso taking the time out t actually do that. But if you can snap a picture on your phone, you can create an inventory. You can keep your documents. David Muhlbaum: How about doing video? Sandy Block: Oh yeah. Rivan Stinson: Video is also important, particularly when it comes to your home, because it’s hard to really describe in words what your home things are worth. But a photo it’s easier to see and maybe it will jog your memory in terms of, "Oh yeah, that was my great-grandmother’s cabinet. It was made of 100-year-old oak," and whatever the appraisal would be for that. But writing that down, you may forget some of those details. It’s just easier. It’s another way to record, on top of keeping maybe a Google doc that is the home inventory connected to that video. The video is just the easiest thing for you to do. Sandy Block: Rivan, something else that you’ve written about, that for some reason, always generates a lot of reader mail, is not only where to store your documents, but how long you need to keep them. That particularly comes up with respect to tax records. Since we’re not that far away from tax day, if you could run through what you can keep, and which ones you could actually safely shred at some point? Rivan Stinson: Okay. In general you want to keep all your tax documents about a three- to four-year rolling basis, and that’s because the IRS has about three years to audit you . You want to make sure you have the documentation to claim all the deductions, if you itemize and things like that. However, things get a little more complicated if you have a broker account, maybe you have some IRA contributions. For the broker example, you want to keep those things for 10 years, only because if IRS thinks you’ve underreported, they have a longer time period to audit you. Same with some IRA contributions. Rivan Stinson: But in general, if your life is pretty simple and you have a W2 form, you just want to keep them for about three, four years. It also gets a little complicated if you’re a homeowner. You want to keep all of your documents until the day you sell your home, plus three years. That’s because you are going to have to prove your cost basis for your house, or your primary residence. Rivan Stinson: That gets into, what was a home upgrade, what was this? That is all for the CPA to figure out, what is your tax? David Muhlbaum: Yeah, because the crux of that is this exclusion in the capital gains on the sale of a house. Rivan Stinson: Correct. David Muhlbaum: Now, those values are, what are they, $250 for single? Rivan Stinson: $250,000 for single, $500,000 for a married couple. That is how much of a sale you can exclude- David Muhlbaum: From a capital gains tax level, right. Rivan Stinson: Yes. David Muhlbaum: So, let’s run some numbers here. What’s bringing that capital gain exclusion to the fore is in part the run up in home prices. The $250,000 and $500,000 exclusion, that hasn’t changed, but home prices sure have, and have gone up. Rivan, you had in your piece, and you actually used a sample with dollar values. I want to walk through it because I think it’s a good example of how this actually works. What you said is, you had a scenario where, let say you and your spouse bought a house 20 years ago for $200,000. Today you sell it for $800,000. So, that’s a profit of $600,000. Now, in theory, you would have $600,000 in capital gains and only $500,000 of exclusion, so you’d owe capital gains tax on that $100,000 dollars. But if you had done renovations, you had remodeled the kitchen, the bathroom, replaced the garage door, whatever, and those all totaled up to, and were using round numbers here, $100,000, then boom, even-Steven, no tax. Rivan Stinson: Correct. David Muhlbaum: But to do that you need those documents. Rivan Stinson: Correct. Because things like home maintenance such as painting and your general repairs does not count for that. So, to say on the safe side, you might as well keep everything that’s big. It just makes the CPA’s job easier. David Muhlbaum: But this could be literally that file folder full of like, "This is the tile samples, and here are the five punch list things." Right? Rivan Stinson: Correct. David Muhlbaum: Digitize. Rivan Stinson: Yes. David Muhlbaum: Don’t take it with you. Rivan Stinson: This is the fancy faucet that I bought for my remodeled kitchen. You got to know that. David Muhlbaum: Right. Sandy Block: I think either scan, or just keep receipts for all of that work that you had done. Because you don’t want to be calling up your contractor on April 14th saying, "I need all these receipts for roofs and fences and upgrades." David Muhlbaum: That is the most fictional thing I think I’ve ever heard. You’re going to reach a contractor from 20 years ago to give you details about the job that you both left in a huff. Yeah, that’s just not going to happen. Rivan Stinson: Yeah. So, my suggestion there if you are really paranoid person, and this will be my mother, she did it both. She does have a box, plastic bin, that has all of her stuff in it. She told me where I can find it, because she did some replacements and all that. I think she’s also scanned it. So, you can do both. It’s more so if the original document gets destroyed, you have a backup to prove everything. David Muhlbaum: Right. Well, the destruction, which was the theme of your most recent piece about financial emergency in the time of serious natural disasters, we talked about the safe deposit box being where to bring things. But we had situations with the fires in California, and Australia for that matter, where places with safe deposit boxes were burned. It’s unlikely, it’s improbable, but it’s kind of unnerving. Rivan Stinson: It is. For that, I would ask the bank, how do they protect those safe deposit boxes? This is why it’s important to, at least if you can, grab your driver’s license or passport, because that will be your starting point to rebuild your life. Again, most of these things we’re doing now are on the web, or it’s a scan, you just need to log in. Maybe you don’t need your birth certificate today, but you do need to get into your bank account. That would be more important. You just got to remember your bank account login. If you don’t remember that, now where are those passwords? Did you back the passwords up with either a friend or family? Do you use a password manager, such as LastPass, which does have an emergency feature to allow others into it if you can’t? Do you use something like a Google drive? Do you keep things in your Apple iCloud? Anything that can make this quicker for you to do. Rivan Stinson: Even if your iPhone or Mac gets destroyed, as long as you remember your Apple ID and password, you can reset all that stuff. If you are prone to forgetting, I would suggest you share it with someone that is a trusted friend or family, because Apple does not have an emergency access feature. David Muhlbaum: Yes, I know from personal experience that an Apple ID is a difficult thing to get a reset on, but there are others that are worse. As you mentioned, getting a duplicate birth certificate or a Social Security card, but not impossible. Sandy Block: Not impossible, and I think that’s why you want to scan all this stuff. Because if worst case, the bank burns down with your safe deposit box and those documents in it, you can track them down. It’s going to take some time, but I have done this, you can get your birth certificate if you know where you were born. You can find these things, but having the originals digitized will speed up the amount of time it takes to track them down. Rivan Stinson: Correct. If you don’t know what office to go to, I believe the article has where you should go. I think David will list that within this podcast link. But like Sandy said, you can replace your birth certificate. Replacing your Social Security card is easier now , too. Again, you log onto the Social Security Administration website. Sandy Block: Yeah, I recently replaced my Social Security card. It can be done. David Muhlbaum: In the end, what it comes down to is doing the work ahead of time. We think of disaster prep as things like ... Well, are the gutters cleaned is kind of basic. But if you live in a fire zone, creating a defensible area, making sure that your roof doesn’t have brush or needles on it. I’m revealing that I don’t live in a fire zone, but I know there are things you should do. But some of that prep work is just sitting down with the computer, with the phone, and doing the administrative work. Rivan Stinson: Yes. Make it fun. I do all my administrative tasks with a glass of wine, it’s great. Yes, you just have to sit there, and you also have to tell people where they are. I will say I appreciate the fact that every time I come home, my dad tells me exactly where his safe deposit box key is. It’s a little unnerving to keep talking about his impending death, but at least I know where things are. Sandy Block: Since we’ve been talking so much about safe deposit boxes, I think it’s important, because we got mail on this, to remind or advise people that you should not keep estate documents in there. The reason for that is if you die, and your relatives don’t have access your safe deposit key, they’re not going to be able get to this information that they need to settle your estate. Sandy Block: Now, in Rivan’s case, her dad tells her where the key is. But unless you have the key, if your name isn’t on the safe deposit box, you can’t get these documents. It will be kept with your lawyer, or with your executor. You could digitize, but don’t leave the original copy of your important healthcare proxy, estate documents, in your safe deposit box, because you could be in a situation where people who need them cannot get them. We get a lot of mail on this, so I think it’s important to point out. David Muhlbaum: I have a couple more details on the will thing. I believe, in some states at least, this was the case in Virginia, the lawyer was able to essentially file the document with the courthouse, so the document is sort of always there. It’s with a seal at the court. Rivan Stinson: That’s right. That reminds me of something I learned through research. If you don’t know, ask your financial planner, if you have one. Ask your doctors when it comes to healthcare proxies. Ask people, "Do you have a system to store this in case something happens to me?" Particularly if you don’t have family close to you to get to that. Sandy Block: One of the things Rivan noted in her story is that if you’re gone and no one has a safe deposit box key, the bank doesn’t keep a master. Someone has to hire a locksmith to bust into your box. It’s not like you can tell the bank, "I lost the key. Let me in." They won’t do that. It’s important that you have some kind of backup, some kind of system. Don’t assume that people can get at documents in your safe deposit box if you’re not around. David Muhlbaum: Well, to go back to the disasters, that we’ve dragged Rivan into being our disaster professional, we’re recording at the start of what we historically have thought of as, well, disaster season, if you will. Wildfires, hurricanes, of course New Mexico’s already on fire. But I think it would be good, Rivan, if you gave us a reprise, partly from last year, but partly because it’s still an issue, homeowner’s insurance . What it does for you in disasters, and what it doesn’t, and how you fill those gaps? Rivan Stinson: First off, talk to your insurance agent before disaster happens. If you live in an area that is prone to anything, you need to understand how it works. For example, say you live in Florida. High winds for a hurricane. If damage is done by the winds, that’s a separate deductible. Or if your house is flooded, that is not covered by your standard homeowner’s insurance policy. That is a different policy that you have to buy through to someone else. With a wildfire, nine times out of 10, the insurance will cover the cost of replacement. The issue is you can’t change coverage in the midst of disaster, whether it’s wildfire, floods, a known storm, tornado. You can’t call your insurance and be like, "Hi, I think I need to add some more coverage to my home." They’ll be like, "No, we can’t sell you any more." Rivan Stinson: They will stop business and restart at a predetermined time. That can be a little bit after even the storm is passed, because they don’t want a spike in claims. You have to do that administrative in-house work months before, just to make sure you’re covered. Again, if you’re not sure if you have enough coverage, talk to your insurance agent. They should have tools to help you estimate things, in terms of if you keep expensive jewelry at your home, if you have expensive tech, considering all of us have been working from home the past two years. If you don’t know, ask. David Muhlbaum: Mm-hmm. Sandy Block: One other thing you mentioned in your story, Rivan, is that a lot of people may not have enough coverage because of inflation. Prices have gone up, and the aftermath of a disaster, a lot of times labor and other supplies will cost a lot more. People need to make sure that the coverage they have now is really going to make them whole if they lose their homes, correct? Rivan Stinson: Correct. For that, you really want to ask about an extended replacement rider. This should help you cover the cost of inflation, and things like that. This is also, it comes back to, remember your home upgrades . If you upgraded your home, but haven’t upgraded your homeowner’s insurance, that is going to take the cost of building your home way up. You need to let them know what kind of materials. You also get discounts. If you put on a new roof, that’s an insurance discount, but they also need to know so that you can be properly insured. David Muhlbaum: Well, it’s good advice. There’s an undertone here of, "Do the work, people." I’m sorry about that, but in the end, we’ll all be better off. Thanks so much for walking us through it, Rivan, appreciate it. Rivan Stinson: No problem. David Muhlbaum: That will just about do it for this episode of Your Money’s Worth . If you like what you heard, please sign up for more at Apple Podcasts , or wherever you get your content. When you do, please give us a rating and a review. If you’ve already subscribed, thanks. Please go back and add a rating or review if you haven’t already. To see the links we’ve mentioned in our show, along with other great Kiplinger content on the topics we’ve discussed, go to kiplinger.com/podcast . The episodes, transcripts and links are all in there by date. If you’re still here because you want to give us a piece of your mind, you can stay connected with us on Twitter, Facebook, Instagram, or by emailing us directly at [email protected] . Thanks for listening. You may also like Why Are Gas Prices Still Going Up? Your Guide to Roth Conversions 2 Alternatives to Required Minimum Distributions || Life Clips Announces Belfrics Group Adds An Additional 14 Coins To Its Crypto Currency Exchange: Life Clips Inc. Belfrics Exchange has added Bitshiba, Chainlink, Dai, Dogecoin, DYDX, Fantom, OMG Network, OX, Pax Gold, Polygon, Solana, Uni Coin, USD Coin and Wrapped Bitcoin AVENTURA, Fla., March 22, 2022 (GLOBE NEWSWIRE) -- Life Clips, Inc. (OTC Pink: LCLP) (the “Company”) today announced its Belfrics Group, one of India’s early adopters of blockchain and cryptocurrency, has added 14 new crypto currencies to its exchange, as a result of increasing demand from its customers. The new coins that have been added are – (in alphabetic order) Bitshiba, Chainlink, Dai, Dogecoin, DYDX, Fantom, OMG Network, OX, Pax Gold, Polygon, Solana, Uni Coin, USD Coin and Wrapped Bitcoin. Belfrics Group follows a rigorous scrutinization process before adding new coins to ensure the safety of investors. Following this process, Belfrics tested the coins on its exchange prior to adding them permanently. Praveen Kumar, Founder and CEO of Belfrics Group, said, “The move to add these 14 new digital assets comes on the back of growing demand from our existing customers. This is also a part of our larger strategy to launch over 200 phygital centers across India. Our focus is to cover the tier 2 & 3 markets of India which would give us access to a wide range of customers who are looking at trading in multiple crypto currencies.” In addition to a spot exchange where cryptocurrency itself is traded, Belfrics also offers a forex and cryptocurrency derivatives platform. Belfrics seeks to provide exchange and trading platforms that comply with all regulatory, AML and KYC requirements in each of the jurisdictions where they operate and to provide access to cryptocurrency in areas traditionally underserved by technology. Life Clips CEO, Robert Grinberg, commented, “The addition of these new coins will allow Belfrics Group to expand its global presence significantly. While we always urge investors to do proper research before investing in any crypto currency, Belfrics primary objective is to list coins which we believe would sustainable over the long-term.” Mr. Grinberg continued, “India is at a fairly nascent stage, as far as the crypto currency ecosystem is concerned, and we believe the crypto sector see tremendous growth in the near future. Belfrics is strategically placed to be a part of India’s crypto growth story and these coin additions would help expedite our overall growth in the country.” Story continues About Us Life Clips is the parent company of Belfrics Global and Cognitive Apps Software Solutions Inc. Belfrics Global is a Malaysian based blockchain provider and cryptocurrency exchange and platform that is licensed and regulated by Labuan Financial Services Authority (LFSA), Malaysia. With 10 operational offices in 8 countries, Belfrics’ multi-feature trading platform offers digital assets, cryptocurrencies, and crypto derivative contracts to its clients. Belfrics blockchain has been recognized by Gartner as being a top 10 blockchain in terms of real-world projects and has received a patent for its Belrium KYC verification System (BKVS) by the Nigerian patent authority. Cognitive Apps is disrupting the space of mental health with its speech-based, AI-powered mental health analytics platform that empowers businesses to measure, understand, and improve the mental well-being of their employees, patients, and customers. Aiki delivers CBT and IPT therapies using a chatbot which and includes the voice analysis solution that takes in other health data from Apple and Google HealthKit to make a more accurate analysis of one’s mental health. Aiki was developed to capitalize on the trend towards artificial intelligence platforms utilized by individuals and companies to raise awareness of employees’ mental health. Cognitive Apps is developed by a team of licensed psychotherapists that makes use of vocal biomarkers to screen for early signs of mental health conditions, such as stress and depression. Aiki is available on Apple‘s App Store. For more information on Life Clips visit www.lifeclips.com For more information on Belfrics Global visit www.belfricsgroup.com For more information on Cognitive Apps Software Solutions visit https://cogapps.com Forward-Looking Statement Disclaimer This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward-looking statements are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company's control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements: (i) the initiation, timing, progress and results of the Company’s research, manufacturing and other development efforts; (ii) the Company’s ability to advance its products to successfully complete development and commercialization; (iii) the manufacturing, development, commercialization, and market acceptance of the Company’s products; (iv) the lack of sufficient funding to finance the product development and business operations; (v) competitive companies and technologies within the Company’s industry and introduction of competing products; (vi) the Company’s ability to establish and maintain corporate collaborations; (vii) loss of key management personnel; (viii) the scope of protection the Company is able to establish and maintain for intellectual property rights covering its products and its ability to operate its business without infringing the intellectual property rights of others; (ix) potential failure to comply with applicable health information privacy and security laws and other state and federal privacy and security laws; and (x) the difficulty of predicting actions of the government and its regulations. All forward-looking statements included in this press release are made only as of the date of this press release. The Company assumes no obligation to update any written or oral forward-looking statement unless required by law. For Media and Investor Relations, please contact : David L. Kugelman (866) 692-6847 Toll Free - U.S. & Canada (404) 281-8556 Mobile and WhatsApp [email protected] Skype: kugsusa https://www.linkedin.com/in/davidkugelman/ [Random Sample of Social Media Buzz (last 60 days)] None available.
Trend: down || Prices: 36575.14, 36040.92, 35501.95, 34059.27, 30296.95, 31022.91, 28936.36, 29047.75, 29283.10, 30101.27
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 2021-09-20] BTC Price: 42843.80, BTC RSI: 38.59 Gold Price: 1761.80, Gold RSI: 41.48 Oil Price: 70.29, Oil RSI: 52.40 [Random Sample of News (last 60 days)] Elite Mining Inc. Can Now Capture Flare and Stranded Gas Due to New Partnership with AXP Energy Limited: This will allow EMI to expand operations remotely across the United States CHEYENNE, WY / ACCESSWIRE / August 30, 2021 / Elite Mining Inc. (EMI) - recently named one of the top five blockchain startups reducing energy requirements - aims to revolutionize how cryptocurrencies are mined by using clean energy at scale. Elite Mining Inc.'s recent partnership with AXP Energy Limited will allow the company to capture flare and stranded gas to expand its mining operations to remote locations throughout the United States. Stranded gas, according to the U.S. Department of Energy (DOE), is gas that is wasted or unused in a natural gas field due to either economic or physical limitations. A joint DOE and National Technology Lab report stated that the largest volume of flaring is taking place in the Bakken Shale of North Dakota because of the lack of availability of pipeline infrastructure. Overall, the DOE reported that if current flaring rates continue over the next two years, an additional 500 billion cubic feet of gas could be flared in the Permian Basin of West Texas alone. Burning unused gas emits carbon dioxide and wastes a valuable source of power. By capturing this stranded or flare gas, EMI is able to power mining operations and reduce carbon emissions. "The partnership between AXP Limited Energy and Elite Mining brings value to both companies by creating a market for natural gas in scenarios where the gas would otherwise be flared or vented due to lack of proper infrastructure. This new market increases net-backs for the producer while lowering all-in electricity costs for the consumer," says Kyle Textor, President of Carbon Capture Consulting LLC. Elite Mining Inc. is the only green crypto mining company to offer a plug-and-play, crypto mining solution using immersion technology that is 100% mobile. Due to their compact size and mobility, the company's Elite Mobile Units (EMUs) can be driven without a commercial driver's license (CDL) to any location, no matter how remote, to capture and utilize the otherwise wasted flare gas. As new opportunities to capture this stranded gas arise, EMI can deploy its EMUs quickly to customers throughout the country. In addition to flare gas, Elite Mining focuses on eco-friendly mining, utilizing many sources of renewable power like solar and wind, while innovating breakthrough technologies in immersion mining. Immersion mining technology protects miners from dust, environmental contaminants, high temperatures and vibration, which negatively affect their performance. EMI is able to reduce waste by eliminating the necessity to replace damaged or poor-performing miners, significantly reduces the need for infrastructure and optimizes energy efficiencies, minimizing the carbon footprint emitted by digital mining. Elite Mining and its clients have seen an increase in hashrate of over 30%, uptime of 99.7% and generating 30% more Bitcoin-per-miner with the company's Immersion Mining Pods versus typical air-cooled miners. Story continues "Energy partnerships like the one with AXP Energy Limited increase our power capacity at a reduced cost, allowing us to scale quickly to meet growing customer demands while increasing profits. This partnership is great news for our shareholders," Justin Podhola, CEO and founder of Elite Mining Inc., stated. EMI's partnership with AXP Energy Limited marks a crucial step for Elite Mining towards the company's goal of revolutionizing the crypto industry through innovation and green initiatives. Through the agreement, AXP will provide energy to EMI's immersion mining farms in the form of stranded gas from its Pathfinder Field in Colorado with opportunities for future expansion. With an increased power capacity at a reduced cost, EMI can improve mining efficiency and achieve the highest hashrates, which should lead to higher revenues and profit margins. EMI shareholders and customers will enjoy the benefits of this agreement for years to come, as their mining investments now have the potential to yield much higher returns. ABOUT ELITE MINING INC. Elite Mining Inc. acquires, installs and maintains immersion mining hardware to mine digital currencies, using proprietary immersion technology and the lowest 2% renewable energy costs in the USA for its own mining and hosting customers. The hardware, or miners, are submerged in EMI's proprietary, biodegradable liquid and placed inside Immersion Mining Pods (IMPs). This optimizes performance and energy efficiency. The IMPs are neatly contained within a 28-foot Elite Mobile Unit (EMU), making it the most energy-efficient green mining solution on the market. Elite Mining Inc. sells these mobile units through its subsidiary Elite Mobile Units. Typically sold to clients with mining operations that require over one megawatt of power, EMUs enable crypto miners and investors to reap the rewards that proprietary immersion technology and mobile mining solutions bring. EMI Contact Information: April Madden, Director of Marketing [email protected] J.D. Wambold, Executive Vice President [email protected] Carbon Capture Consulting LLC Kyle Textor, President [email protected] Related Files EMI Company Info Press Kit.pdf Related Images Inside the EMU Outside the EMU SOURCE: Elite Mining Inc View source version on accesswire.com: https://www.accesswire.com/661255/Elite-Mining-Inc-Can-Now-Capture-Flare-and-Stranded-Gas-Due-to-New-Partnership-with-AXP-Energy-Limited View comments || Google To Ditch Qualcomm And Develop Its Own Smartphone Processors This Year: Search engine giant Google has announced that it would no longer be using Qualcomm’s processors on its smartphones as it would start building its own processors this year. Tech giantGooglerevealed earlier today that it would start building its own smartphone processors this year. According to its announcement, the processor would be called Google Tensor, and it will serve its new Pixel 6 and 6 Pro phones set to be released later this year. This latest development means thatGooglewill no longer be using chips manufactured by Qualcomm. However,Qualcommpointed out that it would continue to work with the search engine giant on existing and future products based on its Snapdragon platform. The Google Tensor processor is expected to power the company’s new flagship phones, which are expected to be launched in October. The Pixel 6 and 6 Pro phones will seeGooglemove away from offering affordable smartphones to high-end products. Google is looking to compete with Apple and Samsung by offering more high-end products to its customers. The move byGoogleis similar to that of Apple. The iPhone manufacturer ditched Intel and began manufacturing its own processors. Similar to Apple, Google will use Arm-based architecture for its processors. Arm processors are usually lower power and are mostly used across the industry for mobile devices, such as phones, tablets and laptops. The shares of Qualcomm andGoogleare both up as the United States market opens today. QCOM is up by 0.05% today despite the news that Google will no longer be using its smartphone processors. Year-to-date,QCOMhas remained rather flat as it began the year trading at $150, and it is now trading at $149.90 per share. GOOGL, on the other hand, is up by 0.08% so far today. Google is one of the best-performing stocks this year, up by 53% year-to-date. Google began 2021 trading at $1,752 per share, but an extended rally has seen it gone up by nearly $1,000 as it is now trading at $2,696. Thisarticlewas originally posted on FX Empire • Natural Gas Price Prediction – Prices Move Higher on Warm Weather Forecast • Gold Price Forecast – Gold Markets Settle at 200 Day EMA • GBP/USD Price Forecast – British Pound Gives Up Early Gains • USD/JPY Price Forecast – US Dollar Gives Up Early Gains • USD/MXN Extends Decline Due to a Dollar Post-Fed Hangover and Tests 19.80 Support • NCR Makes Crypto Push With Key Bitcoin ATM Deal || Cal-Bay Enters NFT Market Space, Intends to Purchase Two New High Profile NFT’s: HENDERSON, NV / ACCESSWIRE / September 14, 2021 /Cal-Bay International, Inc (OTC:CBYI) today announced the company is striving to become one of the leading NFT Stock companies by way of smart partnerships and strategic investments in the Digital Asset and NFT (Non-Fungible Token) Space. Cal-Bay is in the process of acquiring high profile digital asset NFT's to the company's portfolio and will be announcing the inventory holdings of the digital assets early next week. The company is committed to becoming a leading NFT stock company for the following reasons: The NFT market is in explosive growth mode and rapidly increasing in popularity for all genres. The NFT popularity has rocketed in the last 12 months alongside an upward pricing and evaluations of digital currencies such as Bitcoin, Ethereum etc.…. The NFT market is developing rapidly with some digital collectables being sold for tens of millions of dollars. In addition to Art and Media are growing in the gaming industries, including Digital Art, Collectible Art with huge opportunities for future growth in Real Estate and Automobile industries, and many other sectors that can reap the benefits of this huge NFT technology. Cal-Bay is committed to Creating valued NFTS and Identifying new genre, new market trends and being first to market in those new verticals. About Cal-Bay International. A Publicly traded holding company for innovative Technologies, Digital Assets and creating a Philanthropic Foundation through digital asset technologies to support causes in the US and around the world. www.cbyintl.com Important Links: https://www.nytimes.com/2021/03/26/technology/nft-sale.html https://www.tampabay.com/news/business/2021/08/17/theres-a-tropicana-field-nft-for-sale-and-it-comes-with-big-vip-perks/ Safe Harbor Statement: Safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as Cal-Bay, CBYI or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements herein that describe the Company's business strategy, outlook, objectives, plans, intentions, or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. Cal-Bay International Inc. Contact: (877) 372-0716Email:[email protected]:www.cbyintl.com Investor Relations: Andrew Barwicki(516-662-9461)http://www.barwicki.com/ SOURCE:Cal-Bay International, Inc. View source version on accesswire.com:https://www.accesswire.com/664012/Cal-Bay-Enters-NFT-Market-Space-Intends-to-Purchase-Two-New-High-Profile-NFTs || Amazon Launches Its $1.5 Billion Air Hub In Kentucky: Amazon is working towards ensuring faster delivery and the launch of its latest air hub in Kentucky signals the company’s intentions. E-commerce giantAmazonannounced earlier today that it had launched its latest air hub in Northern Kentucky. The $1.5 billion air hub is designed to help the e-commerce giant deliver products to its customers faster. In anannouncementearlier today, Amazon said the launch of the air hub is a major milestone for Amazon Air, the company’s fast-growing air cargo arm. The Amazon Air routes are flown by several contracted carriers and have experienced massive growth since it was launched five years ago. While Amazon Air currently operates in over 40 airports across the United States, the terminal at Cincinnati/Northern Kentucky International Airport is expected to serve as the central nerve of the company’s nationwide cargo network. The terminal will enableAmazonto boost its 1-day and same-day delivery in various parts of the United States. The launch of the Kentucky hub is a huge achievement forAmazonas the company has been working on the project for the past four years. Bezos believes that the hub would allow Amazon to get packages to customers faster, and that is a big deal for the company. Amazon’s stock experienced an excellent start to the year, rising by over 20% to reach a yearly high of $3,727 in July. However,AMZNhas been in a consolidation stage for the past few weeks, with the stock price down by over 10% in less than two months. At the time of this writing,AMZNis trading at $3,292.22 per share, down by 0.86% today. The stock price has declined despite the positive news of the launch of the Kentucky air hub. However, Amazon remains one of the leading companies globally, and analysts still see it performing well before the end of the year. Thisarticlewas originally posted on FX Empire • Crude Oil Price Forecast – Crude Oil Markets Recover After Initial Selloff • Gold Price Forecast – Gold Markets Trying to Recover • Natural Gas Price Forecast – Natural Gas Continues to Test Big Figure • Dogecoin – Daily Tech Analysis – August 12th, 2021 • Natural Gas Price Prediction – Prices Slip Despite Emergence of Tropical Storm Fred • Bitcoin’s Rally to $90K+ Back on Track || Custodian Ventures Announces 5.2% Ownership Interest in LM Funding America, Inc.: NEW YORK, July 29, 2021 (GLOBE NEWSWIRE) -- Custodian Ventures LLC (together with its affiliates, “Custodian Ventures” or “we”), today filed a Schedule 13D announcing its acquisition of approximately 5.2% of the common stock outstanding of LM Funding America, Inc. (NASDAQ: LMFA) (“LMFA” or the “Company”). David E. Lazar, Chief Executive Officer of Custodian Ventures, issued the following statement: “We invested in LMFA due to the Company’s stated intention to explore potential acquisitions, financing activities and/or strategic transactions to maximize shareholder value following the improvement of its cash position and the digital assets strategy the Company unveiled in January 2021. We commend the Board of Directors on the Company’s progress in line with this strategy to date including the announcement of both its recent purchase of $2 million in digital assets and its intent to develop transactional capabilities involving digital assets, including Bitcoin and Ether, the native cryptocurrency of the Ethereum platform, both organically and through potential acquisitions. We will be monitoring the Company’s developments with interest.” About Custodian VenturesCustodian Ventures LLC is an investment fund specializing in reverse merger and other event-driven opportunities. Its Chief Executive Officer, David E. Lazar, brings domestic and international experience in operations, accounting, audit preparation, due diligence, capital restructuring, debt financing, and mergers and acquisitions. Investor Contact Information:David E. [email protected] || There’s Still Time to Fix Congress’s Crypto-Tax Mess: Thanks to a series of Marx Brothers-caliber legislative screw ups, the U.S. Senate yesterday passed a tax provision that even its own authors claim they don’t really support as written. Even the guy who killed a last-ditch attempt to fix it yesterday, Alabama Sen. Richard Shelby, said he actually supports the fix. So, yeah, this is nobody’s fault, nobody’s responsibility. I’m sure everyone in the Senate really gave it their honest, well-intended best. I’m sure passing laws so broken they’re simultaneously industry-destroying and unenforceable is a once-in-a-lifetime event in that august body. I’m sure they’re not just making it all up as they go along for the sake of political convenience. David Z. Morris is CoinDesk’s chief insights columnist. 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: Market Wrap: Bitcoin Rallies Despite Cooler Inflation Data And yet there it is, in the guts of the huge infrastructure bill, a tax reporting requirement for “any person who (for consideration) is responsible for regularly providing any service effectuating transfers of digital assets on behalf of another person.” As the industry has repeatedly warned, that language could rope in a wide range of unintended players, including miners and software developers who have no ability to meet its requirements. So what happens next? Should every crypto business in the United States start packing their bags to move overseas so that they don’t have to comply with an impossible law? Luckily, there’s still time, though the solutions from here will be even more challenging and complex. The infrastructure bill now goes to the House, where it will be considered and debated for more weeks or, more likely, months. After that, it will be translated into regulatory language by the Internal Revenue Service and the Treasury Department. At both of those stages, there are opportunities to mitigate the potential damage of the measure. Jerry Brito, whose crypto lobbying group Coin Center took the lead on the effort to fix the Senate language, believes there’s hope for revisions in the House, saying that “we can try to get a whole new amendment from scratch that can address our concerns.” Even if those efforts are successful, though, the House and Senate versions of the bill would have to be reconciled, itself a long process with unpredictable results. Story continues Related: By Taxing Crypto, the US Government Has Accepted It&#8217;s Here to Stay Even if the House revision effort fails and the current language becomes law, it must then be translated into specific rules by the IRS and the Treasury Department. That usually involves a public feedback period and is likely to make clear what specific entities are affected by the language. “Even after this whole legislative process is done, there are often significant opportunities for industry and taxpayers to provide their input into the rules and regulation,” said Rochelle Hodes, Principal, Washington National Tax at the consulting firm Crowe LLP. Hodes also thinks statements Sen. Rob Portman (R-Ohio) has made about the provision will influence how it is interpreted by regulators. On Aug. 3, before the fracas turned into a total meltdown, Portman wrote on Twitter that the measure “does not impose new reporting requirements on software developers, crypto miners, node operators or other non-brokers.” On Monday, he reiterated that clarification before Congress . A co-sponsor, Sen. Mark Warner (D-Va.), also stated on record that the measure was intended to target “businesses,” which could help shield protocols from rulemaking. According to Hodes, such statements have a significant role in shaping how a law is implemented. “[The IRS and Treasury] are going to take into account not just the legislative language, but legislative history … a statement from one of the sponsors of the provision on the floor of Congress that gets into the congressional record, that is fairly persuasive legislative history.” That said, Hodes warns that such statements shouldn’t be relied on to get the desired rulemaking result. Statements of intent that affected rulemaking would remain significant long-term. According to Hodes, regulators regularly delve into centuries-old records to clarify the original intent of the drafters. Fifty years from now, when all involved senators have gone on to their rewards, their statements this week will still matter. There is no easy final summation of what this all means. We’re in limbo, and things could go any number of directions. With a lot of work and uncertainty ahead, now is a moment to take a deep breath and prepare for months more of busy work trying to fix something legislators swear they didn’t even really mean to break in the first place. UPDATE 8/11 21:36: Rochelle Hodes’ name and title have been updated. Related Stories Inversores institucionales regresan a bitcoin a pesar de posibles impuestos para las criptomonedas en Estados Unidos The Inevitability of Crypto in Iraq View comments || Galaxy Digital Files for Bitcoin ETF, Ready to Oppose SEC Chairman: BeInCrypto – Galaxy Digital from crypto bull Mike Novogratz attempts another Bitcoin ETF proposal to the SEC, this time it’s for a futures-only. Today, Senior Bloomberg analyst Eric Balchunas took toTwitterand revealed a newBitcoin ETF filingby Galaxy Digital. This is the firms second attempt at filing a Bitcoin ETF with the SEC. The first was in April under the Securities Act of 1933. This time around, the firm will try under the Securities Act of 1940. Galaxy intends to release a Bitcoin futures-only exchange-traded-fund. To this, Balchunas called the filing “Gensler-ready”. This storywas seen first onBeInCryptoJoin our Telegram Groupand get trading signals, a free trading course and more stories likethisonBeInCrypto || Tesla's record earnings: 'There's quite a bit more to come in 2022,' analyst says: Tesla (TSLA)beat analysts' expectationswhen it reported earnings Monday afternoon, posting a profit of $1.1 billion and making a record-setting number of deliveries for the quarter. But one analyst told Yahoo Finance that the electric car company still has more room to grow next year. Deutsche Bank Lead Tech and Auto Technology Analyst Emmanuel Rosner noted that Tesla worked relentlessly to cut the costs of its vehicles and to offer cutting-edge battery technology. "We truly think this is about their low cost. This is about the superiority in battery technology, and it seems like there's quite a bit more to come in 2022," Rosner told Yahoo Finance Live on Tuesday. Tesla’s adjusted earnings per share, $1.45,more than tripledin Q2 versus the same quarter last year and easily beat analysts’ expectations of $0.97. Total revenue was reported to be $11.96 billion, surpassing expectations of $11.30 billion as well. Tesla has undergone production woes as of late, partially because of theglobal semiconductor chip shortageandproblems with battery production. However, recent focus given to improving productive capabilities may help increase the company’s production in the long run, Rosner said. “Tesla has done a spectacular job in the second quarter in a very, very challenging supply chain environment to actually produce as much as they possibly can, almost maximizing capacity utilization,” Rosner said. “This has probably been one of the toughest quarters, from a supply chain [perspective], especially [with regard to] semiconductors.” Rosner also noted that CEO Elon Musk said during the earnings call Monday that Tesla is “certainly planning for a potential doubling of their [production] volume in 2022”. Curiously, Musk announced that he mayskip earnings calls in the future, prompting questions about the future of his involvement in the company. Rosner noted that, while it was a clear possibility that Musk could at some point relinquish his position as Telsa’s CEO in exchange for an executive chairman position like fellow billionaire and former Amazon CEO Jeff Bezos, Musk’s involvement in the company has “never been higher.” “He portrayed this decision no longer to be on the earnings call more as an efficient use of time,” Rosner said. “I don’t think this is something that is imminent… Long-term, yeah absolutely, the fact that Tesla could do well without his day-to-day involvement would actually be very positive for this time.” Ihsaan Fanusie is a writer at Yahoo Finance. Follow him on Twitter@IFanusie. More from Ihsaan: These stocks are the top picks for millennials and Gen Z Why banning fans at the Olympics isn't a total financial loss Uber, Lyft created ride-hailing shortage: Gig economy expert Bitcoin to tumble further: oddsmakers bet on drop to $10K Read the latest cryptocurrency and bitcoin news from Yahoo Finance Read the latest financial and business news from Yahoo Finance Follow Yahoo Finance onTwitter,Facebook,Instagram,Flipboard,LinkedIn,YouTube, andreddit || Pelosi Ally Asks US House Speaker to Modify Crypto Language in Infrastructure Bill: U.S. Rep. Anna Eshoo (D-Calif.), asked House Speaker Nancy Pelosi (D-Calif.) to amend the crypto tax provision in the Senate’s infrastructure bill in an open letter on Thursday. Eshoo, described byPoliticoin 2014 as “Pelosi’s closest friend in Congress,”wrotethat the current definition of the term “broker” for crypto tax reporting purposes is too broad and may be difficult for some entities to comply with. “When the House takes up the Senate bill, I encourage you to amend the problematic broker definition in Section 80603 of the legislation,” the letter said. Related:Turning Point: The Crypto Industry&#8217;s Battle Against the Infrastructure Bill, Feat. Jake Chervinsky Eshoo joins a growing group of bipartisan lawmakers pushing back against the crypto provision. House Financial Services Committee Patrick McHenry (R-N.C.) and a handful of other congressmen on both sides of the political aisle have expressed their support for changing the language. The infrastructure bill, a priority for U.S. President Joe Biden, will fund $1 trillion in infrastructure improvements or new initiatives around the country, such as passenger rail and electric vehicle charging. Some $550 billion of this will come from new spending, including “pay-fors,” measures meant to raise funds to pay for the initiatives in the bill. Under the current terms of the provision, any entity that facilitates a crypto transaction on behalf of another person would be treated as a broker, meaning the entity would have to file specific tax information reports that would include know-your-customer details. However, industry proponents are concerned this would include miners or other network validators and hardware developers, who don’t typically have access to this sort of information. Senators Ron Wyden (D-Ore.), Pat Toomey (R-Pa.) and Cynthia Lummis (R-Wyo.) proposed an amendment to narrow the scope of the language, while the provision’s original author, Senator Rob Portman, (R-Ohio) as well as Senators Mark Warner (D-Va.) and Kyrsten Sinema (D-Ariz.) introduced a different amendment. Ultimately, the Senate proceeded without considering any amendments, leading to the majority of the group introducing acompromise amendmentthat was blocked under Senate procedural rules. Related:Market Wrap: Bitcoin Rallies Despite Cooler Inflation Data Eshoo endorsed the compromise amendment in her letter on Thursday. “I share the goals of the underlying provision to address tax evasion in the cryptocurrency market, but the House should amend it, as the bipartisan compromise amendment would have, to meet this goal without stifling innovation in a nascent industry by imposing unworkable regulations,” Eshoo wrote. The Senate passed the infrastructure billon Tuesday. The House is in recess, but is expected to take up the bill when it returns at the end of August. • By Taxing Crypto, the US Government Has Accepted It’s Here to Stay • Inversores institucionales regresan a bitcoin a pesar de posibles impuestos para las criptomonedas en Estados Unidos || How Much Energy Does Bitcoin Use?: As new miners join the fray and the Bitcoin network continues to grow, so too does its energy usage. It’s easy to read the headlines and assume that bitcoin , and indeed every other cryptocurrency, must be significantly contributing to climate change. In May, Tesla CEO Elon Musk tweeted his concerns that “cryptocurrency is a good idea on many levels … but this cannot come at great cost to the environment.” Shortly after, bitcoin’s value tumbled 15%. The growing global pressure on bitcoin miners to use more renewable energy has led to the creation of initiatives like the Bitcoin Mining Council and pushed mindful investors to seek out “ greener” cryptocurrencies. As of mid-July, a single bitcoin transaction required 1719.51 kilowatt hours (kWh) – where a kWh is the amount of energy a 1,000-watt appliance uses in over an hour. To put that in perspective, that is about 59 days’ worth of power consumed by an average U.S. household. On an average day , 240,000 bitcoin transactions are sent over the network. How does bitcoin use power? Related: Bitcoin Use Will Be &#8216;Totally Optional&#8217; in El Salvador, Finance Minister Says Often referred to as the new gold rush, it can be hard to comprehend how something with no physical manifestation can be so resource-intensive. The Bitcoin network relies on thousands of miners running energy intensive machines 24/7 to verify and add transactions to the blockchain. This system is known as “proof-of-work. ” Bitcoin’s energy usage depends on how many miners are operating on its network at any given time. These miners must compete against each other to win the right to add the next block to the blockchain and earn rewards. The competitive structure results in a lot of wasted energy as only one miner can add a new block every 10 minutes. To maintain a competitive advantage over other miners, many larger operations are forced to scale up or upgrade their equipment. As a result, there are now dozens of mining facilities all over the world that have hundreds, if not thousands, of rigs running constantly. One of the byproducts of these industrial-scale operations is heat. Application-specific integrated circuit (ASIC) miners – the leading type of specialized computing equipment used for mining cryptocurrencies – produce a lot of heat when performing hashing functions and need to be kept cool to prevent them from becoming less efficient or burning out. Smaller operations might only need fans and a cool climate to keep temperatures in check, but large mining facilities require industrial-style cooling systems. That further increases the amount of energy consumed. Story continues Why is this energy consumption a problem? While the mining industry’s steering toward cleaner energy, a large portion of the electricity consumed by the Bitcoin network is still generated from nonrenewable sources, like coal-burning power plants. It’s well understood that burning fossil fuels like coal releases huge amounts of carbon dioxide into the atmosphere – the main driver of climate change. That means that the more mining computers that join the network, the more demand there will be to create and consume energy. Related: ¿Qué es un token cripto semifungible? Energy demands around bitcoin have long been a concern, especially now that we have seen the network quadruple since its last peak in 2017. And the network is still maturing. At its present level, Bitcoin consumes 81.51 terawatt hours (TWh) annually . If it were a country, it would rank as number 39 for annual electricity consumption, ahead of Austria and Venezuela. Understanding the environmental impact It is important to note that there is a difference between electricity consumption and environmental/carbon footprint. There is no doubt that bitcoin’s miners require large amounts of electricity. But to understand the ecological impact, there needs to be information about where miners source their energy. Bitcoin itself does not inherently produce extra carbon emissions because any source of electricity can technically power the network. As of September 2020 , researchers at the Cambridge Center of Alternative Finance (CCAF) found that 62% of global miners relied on hydropower, 38% used coal, and 39% used some combination of wind, solar or geothermal energy. But it is estimated that only 39% of bitcoin’s energy consumption is carbon neutral. While other industries need specific environments and conditions, bitcoin can capitalize on energy sources that are inaccessible to others. In the Chinese provinces of Yunnan and Sichuan, large quantities of excess hydropower were harvested to power the growing mining factories in China. During the rainy season, these provinces could be responsible for 50% of all mining operations worldwide. But in June, the Chinese government imposed restrictions on cryptocurrency mining. That has resulted in mining operations migrating to countries like Kazakhstan , which rely more heavily on fossil fuel-based electricity. How bitcoin compares to traditional banking While Bitcoin’s electricity consumption may seem like a lot, it pales in comparison to the energy consumed by traditional banks. The entire bitcoin ecosystem is said to use less than half of the energy banking systems require. That is not too surprising when you take into account the sheer number of physical branches, printing facilities, ATMs, data centers, card machines and secure transport vehicles required to support the fiat currency system. The future of bitcoin’s energy use There’s been a notable push in 2021 to make bitcoin mining, and indeed other cryptocurrency mining, more sustainable and environmentally friendly. The Crypto Climate Accord advocates for the cryptocurrency industry to seek out new electricity sources and aims to provide crypto companies “an open-source toolbox of tech solutions” to help the industry achieve net-zero emissions by 2030. Finally, there may be less reason to worry than the alarming headlines proclaim. Bitcoin’s miners are unlikely to increase at the same scale as they did a few years back . That is in part due to bitcoin halving , which is built into the Bitcoin blockchain and reduces the block rewards miners get every four years. So unless bitcoin’s value continues to rise to compensate for the drop, miners will need to shift toward more efficient equipment and cheaper sources of energy in order to maintain margins and keep large-scale mining operations viable. Related Stories Market Wrap: Bitcoin Trades Sideways as Institutional Demand Expected to Rise Bitcoin Lightning Network Growth Passes New Milestones [Random Sample of Social Media Buzz (last 60 days)] None available.
Trend: up || Prices: 40693.68, 43574.51, 44895.10, 42839.75, 42716.59, 43208.54, 42235.73, 41034.54, 41564.36, 43790.89