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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Another Bank Says Its Credit Cards Can't Be Used to Buy Bitcoin: The U.K. banking group Lloyds has banned its customers from using their credit cards to buy bitcoin and other cryptocurrencies.
The move comes just a couple days after U.S. banks—fromBank of Americaand J.P Morgan toCitigroup, Discover and Capital One—told their customersnot to buy virtual coins on credit.
“Across Lloyds Bank, Bank of Scotland, Halifax and MBNA, we do not accept credit card transactions involving the purchase of cryptocurrencies,” Lloyds Banking Group said in a statement.
According toThe Telegraph, the ban will be enforced through the use of a blacklist of cryptocurrency sellers.
The bank is, in common with its American counterparts, concerned about people using its credit facilities to buy cryptocurrencies and then not being able to pay back the loan, due to rapid depreciation in the virtual currencies.
That depreciation is on full display at the moment and not being helped by big banks turning against bitcoin. However, regulatory crackdowns—most recently inChinaandIndiaappear to be the prime causes ofbitcoin’s current slide.
Facebookalso caused jitters bybanning ads promoting cryptocurrencies and initial coin offerings (ICOs)on the world’s largest social network.
At the time of writing, one bitcoin was worth around $7,720, representing a mighty fall since it neared $20,000 in early December. || Why Shares of Ford Motor Company Fell 7% Today: What happened Shares of Ford Motor Company (NYSE: F) closed down 7% on Wednesday, after the company announced preliminary 2017 earnings that fell short of Wall Street's expectations and gave pessimistic guidance for 2018. Ford's executive chairman, Bill Ford, and CEO Jim Hackett posed with the new Ranger in Detroit on Sunday, January 14, 2018. Two days after presenting the well-received new Ranger pickup, Ford executives gave a pessimistic outlook for 2018. Image source: Ford Motor Company. So what Ford executives told analysts at an investor conference in Detroit on Tuesday evening that the company's adjusted 2017 earnings will come in at $1.78 per share. Analysts polled by Thomson Reuters had expected earnings of $1.83 per share, on average. Ford also said that it expects its adjusted 2018 earnings to be even lower than its disappointing 2017 result, falling between $1.45 and $1.70 per share. There was one bit of good news for Ford shareholders: The company declared a $500 million supplemental dividend, or $0.13 per share, to be paid in the first quarter. Ford will report its fourth-quarter and full-year 2017 results on Wednesday, Jan. 24. Ford's earnings miss and downbeat guidance were a sharp contrast to the guidance provided by rival General Motors (NYSE: GM) earlier in the day. GM said that its 2017 pre-tax profit will be a record, falling at the "high end" of the guidance range it gave a year ago , $6.00 to $6.50 per share, and that it expects 2018's result to be similar. Now what It's worth noting that a year ago, Ford gave pessimistic guidance that stood in sharp contrast to GM's upbeat outlook -- and that both companies largely delivered on their guidance. Ford's story doesn't look likely to improve anytime soon. CFO Bob Shanks told the analysts that higher costs for raw materials and currency volatility will cost the company about $1.6 billion this year. A cost-cutting effort is under way, but Shanks said that likely won't have a major impact on Ford's bottom line until 2020. It leaves Ford investors wondering: When will the Blue Oval return to a profit-growth path? Story continues More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This John Rosevear owns shares of Ford and General Motors. The Motley Fool owns shares of and recommends Ford. The Motley Fool has a disclosure policy . || If I Had to Buy One Stock in March, It Would Be This One: A major collaboration withExxonMobil(NYSE: XOM)could significantlyboost oil productionover the next five years and that could make it a great time to addHess Corporation(NYSE: HES)to portfolios. The upstream oil producer's shares have fallen by over 12% since early January, and recently, management doubled its share repurchase program to $1 billion to take advantage of the dip -- I believe this a top stock to buy in March.
Hess Corp is refocusing its oil and gas production portfolio toward low-cost growth and away from mature, low-growth areas, including the North Sea and Permian basin.
Image source: Getty Images.
In 2017, selling slow-growth assets provided Hess management with$3.4 billion in cash. It also pocketed $175 million from unlocking value from its Bakken midstream facilities via the IPO ofHess Midstream Partners(NYSE: HESM). Combined with cash coming in from production in the Bakken, Gulf of Mexico, and Malaysia, that's given management plenty of financial firepower to pre-fund expenses tied to its collaboration with ExxonMobil offshore Guyana, pay down $500 million in debt, boost investments in its 554,000 net acres in the low-cost, high-growth Bakken Shale, and launch its new share buyback program.
Overall, Hess Corp.'s production was 295,000 barrels of oil equivalent per day in 2017, or if you back-out production from assets sold in the past year, then production was 242,000 barrels of oil equivalent per day. Average production would have been better in 2017 if not for unplanned downtime in the Gulf of Mexico due to a fire at the Shell-operated Enchilada platform on Nov. 8. That fire reduced Hess Corp.'s 2017 production by an average 4,000 barrels of oil equivalent per day. A 15% year-over-year increase in production in the Bakken Shale to an average of 110,000 net barrels of oil equivalent per day helped offset that drop, though.
Hess Corp. repurchased $120 million of its shares in the fourth quarter of 2017, and as of Dec. 31 the company's cash balance was $4.8 billion. In January it announced it's redeeming $350 million of the $500 million in debt it plans to retire this year, and in February, it reported it's begun a reorganization that's targeting annual savings of $150 million. In March, it followed up all that good news by adding $1 billion to its existing share buyback plan. It plans to spend $500 million in an accelerated stock repurchase program and the other $500 million will be used to buyback stock on the open market throughout this year.
HESdata byYCharts
In 2018, Hess Corp. is targeting average production of between 245,000 and 255,000 barrels of oil equivalent per day. However, that forecast may undersell Hess Corp.'s potential for significant production growth as it ramps up activity this year in the Bakken and prepares for future production offshore Guyana.
The company plans to add two more rigs in the Bakken Shale in the second half of 2018, and as a result total production is expected to increase substantially over the course of the year. For example, total average production is forecast to increase from between 220,000 to 225,000 net barrels of oil equivalent per day in Q1 2018 to between 265,000 to 275,000 net barrels of oil equivalent per day in Q4 2018.
Looking beyond 2018, average production in the Bakken is forecast to increase by 15% to 20% per year through 2020 and reach 175,000 net barrels of oil equivalent per day in 2021. If it hits that target, then production would be significantly higher than the company's 105,000 barrels per day of oil equivalent recorded in 2017 and nicely higher than the 115,000 to 120,000 barrels per day expected in 2018. While it remains to be seen if Hess Corp. can deliver on its target, the outlook is supported by the fact that management recently increased its estimate of ultimate recovery from Bakken to 2 billion barrels of oil equivalent from its previous forecast of 1.7 billion barrels of oil equivalent.
Given that management thinks it can generate internal rates of return of between 40% and 50% on Bakken production at west Texas crude oil prices of $50, this production growth could be very profit-friendly for investors.
An even bigger opportunity, however, may be Hess Corp.'s activity offshore Guyana, where it has a 30% interest in the Stabroek block, a 6.6-million-acre asset operated by ExxonMobil.
Development drilling in the Stabroek is slated to begin later this year and initial production from it should start in early 2020. Management's estimating that production capacity will reach 220,000 barrels of oil per day by the middle of 2022, and given an expected cash payback of approximately three years at $50 per barrel Brent oil prices, Guyana is arguably one of the most attractive exploration and production projects in the industry.
It's anyone's guess just how big this play will be, but recently, the asset's gross discovered recoverable resources were bumped up to more than 3.2 billion barrels of oil equivalent, which is triple the outlook from one year ago. That amount could increase too, because the 3.2 billion figure doesn't include its Ranger-1 well discovery in January or the Pacora-1 discovery in February. Following those discoveries, Hess Corp. expects gross production from the first three phases of development offshore Guyana to exceed 500,000 barrels of oil per day.
There's no telling where Hess Corp.'s shares will find their footing, but I'm betting it will happen sometime in the next year for five reasons:
• The recently announced $1 billion buy-back program may put a floor under current share prices.
• Benefits from debt reductions and cost-cutting, plus its shift to lower-cost production, should become more evident as the year progresses.
• A ramp up in Bakken production later this year offers revenue tailwinds.
• The shuttered Gulf of Mexico assets should be back to full production by Q4 2018.
• Investor optimism could accelerate ahead of offshore Guyana production beginning in 2020.
If these catalysts spark more widespread interest in adding Hess Corp. to portfolios, then investors who are willing to buy in March could end up being rewarded handsomely.
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Todd Campbellhas no position in any of the stocks mentioned. His clients may have positions in the companies mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy. || Trump promises to lower drug prices, but resists action: President Trump’s State of the Union address on Tuesday struck a tone that attempted to unite, at least when it came to some policy issues. One issue, near to the hearts of many congressional Democrats, has been getting prescription drug prices under control, something that Trump held up as a major campaign issue.
“One of my greatest priorities is to reduce the price of prescription drugs. In many other countries, these drugs cost far less than what we pay in the United States,” Trump said. “That is why I have directed my administration to make fixing the injustice of high drug prices one of our top priorities. Prices will come down.”
To some of the Democratic members of Congress who had met with Trump to discuss ways to solve the problem, these remarks rang hollow.
“I was stunned by the complete and utter disconnect between his words and reality,” Rep. Elijah Cummings (Md.) said in a statement emailed to Yahoo Finance. “More than any other Member of Congress, I have tried over and over and over to work with him.”
Cummings, along with Rep. Peter Welch (Vt.) had an apparently successful and productive meeting at the White House last April, in which the two lawmakers outlined a draft bill that would allow Medicare to negotiate directly. In other words, the art of the deal.
In an interview with Yahoo Finance last spring,Welch described amagnanimous Trump as “knowledgeable,” and felt he had taken it seriously, especially given that the two lawmakers were proposing free-market moves such as importing prescription drugs from Canada and allowing negotiation, something that routinely happens in business.
“It would be like him needing a thousand mirrors and paying the same per unit cost,” said Welch. “He was animated about it.”
After the positive meeting, Cummings said he sentthreefollow-uplettersand received no reply. Since then, the only action by the administration has been a few small moves to lower costsfor Medicare recipients, though not drug prices. As Carolyn Y. Johnsonnotedin the Washington Post, the Trump administration appears to have taken special care to avoid confronting the biggest player in the debate: drug companies.
“Instead, his actions have gone in exactly the opposite direction — tapping a pharmaceutical executive to lead HHS and giving drug companies one of the biggest tax breaks in history despite their already record profits,” Cummings said. “These aren’t just empty promises, they are obvious falsehoods.”
In a press release, Welch noted that Trump “says he wants to bring down the skyrocketing costs of prescription drugs, but has proposed no concrete plan to do so.”
Without majorities in either chamber of Congress, Democrats like Cummings and Welch are unable to proceed without the bully pulpit of a sympathetic president they had hoped for. Still, Cummings said he is ready at anytime to accept President Trump’s initiative, should it come as promised.
“I must keep up hope that the president will finally change course, and I stand ready to work with him or anyone else should that happen,” Cummings said.
—
Ethan Wolff-Mannis a writer at Yahoo Finance. Follow him on Twitter@ewolffmann. Confidential tip line: FinanceTips[at]oath[.com].
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How to stop people tracking whether you’ve opened their email || 1 Stock I'm Buying More Of in 2018: Hawaiian Holdings (NASDAQ: HA) has posted impressive earnings-per-share growth over the past several years. As recently as 2014, adjusted EPS was just $1.55. However, EPS doubled to $3.09 in 2015 and continued to surge higher in 2016, reaching $5.19. During 2017, Hawaiian Holdings did an impressive job of offsetting rising fuel and labor costs to keep EPS moving higher. On average, analysts expect it to post full-year EPS of $5.62. Not surprisingly, Hawaiian Holdings shares skyrocketed as EPS growth took off, roughly tripling from around $20 in early 2015 to a peak of $60 in late 2016. But since then, Hawaiian Holdings stock has given back more than half of its gains. It currently sits near the $38 mark. HA Chart Hawaiian Holdings stock performance, data by YCharts . Fears about rising competition from United Continental (NYSE: UAL) and Southwest Airlines (NYSE: LUV) have caused this bizarre stock slide. However, these worries have been blown way out of proportion. As a result, I purchased additional shares of Hawaiian Holdings stock earlier this month -- and I just might buy more in the weeks ahead. Strong revenue outlooks for the interisland and international markets Like other airlines, Hawaiian Holdings will face significant cost pressure in 2018 from rising jet fuel prices. The big question is whether the carrier will be able to offset this cost pressure with further increases in revenue per available seat mile (RASM). On its intra-Hawaii routes, which account for about a quarter of its revenue, Hawaiian Airlines could be primed for explosive unit revenue growth. For much of 2017, RASM was under pressure in this market, as Island Air, Hawaiian's main rival within Hawaii, expanded rapidly. But in mid-November, Island Air folded, leaving Hawaiian with a virtual monopoly on interisland routes. This development could potentially drive double-digit RASM growth on these routes during 2018. International routes -- which also account for roughly a quarter of Hawaiian's revenue -- could be another source of strength this year. Hawaiian Airlines will get a big RASM bump in 2018 from rising fuel surcharges in Japan , which is by far its largest international market. A Hawaiian Airlines plane flying over the ocean, with mountains in the background Hawaiian Airlines may post strong international unit revenue growth in 2018. Image source: Hawaiian Airlines. The weakening dollar represents another significant tailwind. Hawaiian Airlines sells most of its tickets in foreign currency for its international routes, and those foreign-currency proceeds are now worth more in dollar terms. In addition, a weaker dollar makes travel to the U.S. more affordable for international tourists, potentially boosting demand. Story continues International unit revenue surged 12% year over year in Q3, the most recently reported quarter. International RASM growth could slow in 2018, but it should remain strongly positive. The competitive threat is not as big as it seems Investors' most immediate worry is that rising competition on West Coast-Hawaii routes will undermine unit revenue there. (Hawaiian Airlines gets about half of its revenue from the West Coast-Hawaii market.) However, this outlook is based on an overly simplistic analysis of the planned growth by United Continental and Southwest Airlines on these routes. Last month, United added numerous additional flights from San Francisco and Los Angeles to secondary destinations in Hawaii -- i.e., not Honolulu. This change alone will limit the impact on Hawaiian Airlines , which primarily flies to Honolulu today. At first glance, Southwest Airlines' decision to start flying to Hawaii appears more worrisome. After all, Southwest has been known to undercut rivals by as much as 15%-25% when entering a new market. Furthermore, it already has a big customer base in many West Coast cities. That said, Hawaiian Airlines is likely to get a huge revenue premium over Southwest Airlines on West Coast flights. First, more than 30% of the seats on its A321neos and A330s are in first class or come with extra legroom, whereas Southwest has an all-coach configuration. Second, Hawaiian Airlines serves complimentary meals even in coach, while Southwest Airlines only offers snacks. Third, many customers appreciate the authentic Hawaiian feel of traveling on Hawaiian Airlines. A Hawaiian Airlines A321neo parked on the tarmac Hawaiian Airlines is increasing its premium seat inventory. Image source: Hawaiian Airlines. Lastly, as Hawaiian Airlines retires its remaining 767s in favor of new A321neos over the next year, it will have to reduce capacity on at least half a dozen existing routes. It can strategically target these capacity cuts in markets where competitive capacity is set to surge. One other common worry is that Southwest Airlines will eventually enter the interisland market , providing much stiffer competition than Island Air ever did. It's true that Southwest historically thrived on short-haul routes like the 100- to 200-mile hops that are common in Hawaii. However, Southwest has evolved over the years. Today, its planes are larger and heavier -- and more suited to flying longer routes. Furthermore, it has no infrastructure or crew bases in Hawaii as of now. Thus, even Southwest Airlines may be unable to challenge Hawaiian Airlines in the interisland market. Tax reform and share buybacks will add to EPS growth Right now, most analysts expect Hawaiian Airlines' EPS to decline in 2018. That isn't likely to occur, though. First, the recently implemented tax reform law will significantly reduce the company's tax rate. This change should boost EPS by about 22%. Second, Hawaiian's management has taken advantage of the plunging stock price to ramp up share buybacks. The company has retired about 4% of its shares just in the past two quarters, and the board authorized a new $100 million share-repurchase program last month. Third, to the extent that Southwest Airlines' entry into the West Coast-Hawaii market could pinch profits, that expansion won't begin until late 2018 at the very earliest. Even if Hawaiian Airlines faces modest margin pressure on its West Coast routes, strong momentum in the interisland and international markets should limit the impact on pre-tax profit. The combined impact of tax reform and share buybacks would then boost EPS by as much as 30%. With shares trading for less than 7 times trailing earnings, Hawaiian Holdings looks like a screaming buy -- and I am loading up on the stock for 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 Adam Levine-Weinberg owns shares of Hawaiian Holdings. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . View comments || Elon Musk Uses Twitter to Talk Tariffs, Cars, and China With Donald Trump: Tesla CEO Elon Musk reached out to President Donald Trump on Thursday through Twitter--the pairs favorite means of communication--to lobby for the U.S. and China to reach an agreement on equal and fair rules for cars. The tweets came as Trump prepared to make an announcement on tariffs for imported steel and aluminum. Tesla makes its electric vehicles at a factory in Fremont, Calif. A growing number of its Model S and Model X vehicles are sold in China. Tesla was in talks for months with Shanghais government to build a factory there. And at one point, reports suggested a deal had been struck . But those negotiations have stalled because the two parties disagree on the ownership structure for a proposed factory, Bloomberg reported in February. Without a factory--which in China typically requires foreign companies to take on a local partner--Tesla faces steep import taxes. In a series of tweets, Musk addressed Trump in response to the presidents own Twitter message. Musk replied directly to Trump. Do you think the US & China should have equal & fair rules for cars? Meaning, same import duties, ownership constraints & other factors. Elon Musk (@elonmusk) March 8, 2018 Musk then continued with other messages directed at Trump. For example, an American car going to China pays 25% import duty, but a Chinese car coming to the US only pays 2.5%, a tenfold difference Elon Musk (@elonmusk) March 8, 2018 Also, no US auto company is allowed to own even 50% of their own factory in China, but there are five 100% China-owned EV auto companies in the US Elon Musk (@elonmusk) March 8, 2018 Musk never names these China-owned EV auto companies in the U.S., but hes likely referring to startups like Faraday Future, Lucid Motors, SF Motors, and NIO. However, none of these companies actually have a commercial product that consumers can buy and drive right now. Story continues The only Chinese-owned company that is selling cars to U.S. consumers today is Volvo, which was acquired more than seven years ago by Chinese carmaker Zhejiang Geely Holdings. Volvo Cars plans to produce vehicles at its first U.S. factory by the end of 2018. The 2.3-million-square-foot facility near Ridgeville, S.C. is expected to employ about 2,000 workers. I am against import duties in general, but the current rules make things very difficult. It's like competing in an Olympic race wearing lead shoes. Elon Musk (@elonmusk) March 8, 2018 We raised this with the prior administration and nothing happened. Just want a fair outcome, ideally where tariffs/rules are equally moderate. Nothing more. Hope this does not seem unreasonable. Elon Musk (@elonmusk) March 8, 2018 No word on whether Trump responded to Musk via Twitters direct message feature. On Thursday afternoon, Trump signed two proclamations that implement tariffs on imported steel and aluminum, but exempt Canada and Mexico. See original article on Fortune.com More from Fortune.com Elon Musk Blasts Harvard's Steven Pinker Over Comments Dismissing the Threat of Artificial Intelligence How Elon Musk's Tesla Could Contaminate Mars With Earth Bacteria Viasat CEO Talks New Satellite Internet Service and SpaceX Here's How Much Bitcoin Elon Musk Owns Elon Musk Is Leaving the Board of an AI Safety Group He Co-Founded || 3 High-Yield Stocks Still Worth Buying: Dividend stocks have been shown to be one of the surest ways to generate wealth over time, while also creating a recurring income stream. Investors seeking to achieve this goal, however, may end up chasing stocks with higher yields, which can sometimes be a mistake. A larger payout can be caused by a plummeting stock price, which could reveal difficulties in the underlying business. This can lead to a company cutting or suspending unsustainable payouts. That doesn't mean that all high-yield stocks are risky. With that in mind, we asked three Motley Fool investors to choose top companies with high payouts that still offer a measure of safety. They offered up convincing arguments for Ford Motor Company (NYSE: F) , Energy Transfer Partners, L.P. (NYSE: ETP) , and National Retail Properties, Inc. (NYSE: NNN) . Young business woman drawing risk/reward graph. Image source: Getty Images. Safer than it looks Daniel Miller (Ford Motor Company) : When investors see a dividend yield approaching 6%, it often sends a red flag. A common reason for such a high dividend yield is that the stock price has been pummeled by Wall Street pessimism, which inflated the dividend yield. That's true for Ford Motor Company, which sports a 5.6% dividend yield thanks to its slowing sales in North America and China, coupled with increasing investments for autonomous and electrified vehicles. Those headwinds are certainly real and part of the reason CEO Jim Hackett took over in 2017. But what investors need to better understand is that while many higher dividend yields are risky, Ford has always planned for its dividend to be sustainable so management wouldn't have to cut the dividend, even during down cycles. 2019 Ford Ranger speeding down two-lane highway. Image source: Ford. One major factor that makes Ford's dividend sustainable is its decision to pay an annual supplemental dividend rather than a permanent dividend raise. In 2015 Ford, paid a one-time supplemental dividend of $0.25 per share -- for context, Ford's current annual dividend is $0.60 -- followed by a $0.05 and $0.13 payout in 2016 and 2017, respectively. Those supplemental payments will depend on the profitability of Ford in the given year, enabling management to reward shareholders during the good times and save cash during the bad. Story continues As my colleague John Rosevear points out, today's Ford is in a much better position to sail through a deep recession and still pay the dividend. And while Ford's near 6% dividend yield looks risky -- and sounds risky considering the industry cycle is peaking -- management has always planned for this dividend to stay where it is. Right now, that makes Ford's 5.6% dividend yield worth buying as an income play. A risk worth taking John Bromels (Energy Transfer Partners) If high yields are indicators of high risk, then Energy Transfer Partners' 12.4% yield ought to be an indicator of astronomical risk! But for this energy infrastructure MLP , the risk appears substantially lower than it did a few months ago, which may make this the time to buy in before the market catches on. Energy Transfer Partners, which operates more than 71,000 miles of pipelines across the U.S. -- including the controversial Dakota Access Pipeline -- has a well-established yield and a history of increasing it regularly. In fact, the company has never cut its quarterly distribution, increasing it instead almost every quarter since the company went public in 2002. That's one heck of a record of commitment to increasing value for unitholders. Oil pipeline with refinery in the distance. Image source: Getty Images. The market, though, has been concerned about the partnership's balance sheet, which is is awash in debt , and its distribution coverage, which was very thin for much of last year. However, in its most recent Q4 2017 earnings report, the company posted a distribution coverage ratio of 1.3 times, which is a very comfortable margin. The company also has taken some concrete steps to pay down more expensive debt through asset sales and take on less expensive debt in return, which has cleaned up its balance sheet somewhat -- so the risks seem much more remote. Even if the worst happened and the company's yield were, say, halved, Energy Transfer Partners would still yield more than many of its peers. Investors should be aware that there are some additional tax reporting requirements for MLP unitholders, which can make them a poor choice for some portfolios. But if that doesn't bother you, you'd be hard-pressed to find this high a yield for this moderate a risk. High-yield without the risk Danny Vena (National Retail Properties): The changing landscape brought on by the advent of e-commerce has made investors leery of brick-and-mortar retail, and sent them fleeing from anything having to do with shopping malls. This has resulted in plunging stock prices for a number of real estate investment trusts (REIT) involved in the space. Companies with this special tax structure are required to pay out 90% of the income in the form of dividends. Investors have been known, however, to "throw out the baby with the bathwater," and National Retail Properties is a classic case of that. The company has seen its stock price plunge over e-commerce fears, falling nearly 28% from highs reached in mid-2016. These concerns are unfounded and belie the actual nature of the company's business. Gas station and convenience store illuminated at night. Image source: Getty Images. National Retail Properties has a diverse group of retail locations that aren't likely candidates for disruption by e-commerce. The properties in its portfolio include gas stations, convenience stores, restaurants, automotive service locations, fitness centers, car washes, and movie theaters. These businesses can't be replicated with online purchases, making them largely immune to the effects that are being experienced by many retailers. The company invests in single-tenant retail buildings -- not malls -- that have automatic rent increases built into the contracts, which typically run between 15 and 20 years. Tenants are also required to pay the recurring costs of property ownership, like taxes, utilities, and insurance. A diverse portfolio of 2,764 properties in 48 states helps diversify any risk, and the company has an occupancy rate of 99.1%, and hasn't fallen below 96.4% since 2003. National Retail Properties boasts a current yield of 4.9%, nearly three times that of the S&P 500. The company also is a Dividend Aristocrat , having increased its payout for 28 years running. The combination of high-yield, built-in income increases and a long history of payouts make this company the perfect high-yield stock. 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. Danny Vena has no position in any of the stocks mentioned. John Bromels owns shares of Ford. The Motley Fool owns shares of and recommends Ford. The Motley Fool has a disclosure policy . || What's in Store for ExxonMobil (XOM) This Earnings Season?: ExxonMobil CorporationXOM is set to release fourth-quarter 2017 results, before the opening bell on Feb 2.
The company surpassed the Zacks Consensus Estimate in three of the last four quarters, the average positive surprise being 8.8%. In the last reported quarter, ExxonMobil’s earnings of 93 cents beat the Zacks Consensus Estimate of 89 cents, courtesy of increased price realizations from liquids and gas and improved margins at the refinery business.
Which Way Are Estimates Headed?
Let’s take a look at the estimate revision trend to get a clear picture of what analysts expect from the earnings release.
The Zacks Consensus Estimate for fourth-quarter earnings of $1.06 has been revised upward over the last 30 days. It reflects growth of almost 18% from the year-ago quarter.
Further, analysts polled by Zacks expect revenues of $75.3 billion for the quarter, up 23.4% from the prior-year quarter.
Exxon Mobil Corporation Price and EPS Surprise
Exxon Mobil Corporation Price and EPS Surprise | Exxon Mobil Corporation Quote
Factors to Consider
ExxonMobil has a leading position in the energy industry owing to the size and diversity of its asset base, both in terms of business mix and geographical footprint. The company’s balance sheet is one of the best in the industry – with the debt to capitalization ratio of 11.6% being significantly lower than the industry’s ratio of 28.3%.
Upstream Operation:The Zacks Consensus Estimate for earnings after tax from ExxonMobil’snon-U.S.upstream operations stands at $2,424 million, higher than $1,805 million reported in the prior quarter and $1,686 million in the year-ago quarter.
Also, for upstream operations in thedomesticregion, the Zacks Consensus Estimate for after-tax loss stands at $114 million, significantly narrower than the loss of $238 million and $2,328 million reported in the preceding quarter and year-ago quarter, respectively.
Downstream Operation:For the downstream business, The Zacks Consensus Estimate for earnings after tax from ExxonMobil’snon-U.S. downstream operations is pegged at $802 million, down from respective $1,141 million and $971 million in the prior-quarter and year-ago quarter.
For operations in theUnited States, the Zacks Consensus Estimate of after-tax earnings stands at $305 million, lower than $391 million in the July-to-September quarter but higher than $270 million in the prior-year quarter.
Earnings Whispers
Our proven model does not conclusively show that ExxonMobil is likely to beat 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:Earnings ESP, which represents the difference between the Most Accurate estimate and the Zacks Consensus Estimate, is -1.47%. This is because the Most Accurate estimate is pegged at $1.05, while the Zacks Consensus Estimate stands at $1.06. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank:ExxonMobil carries a Zacks Rank #3. Though a favorable Zacks Rank increases the predictive power of ESP, the company’s negative ESP makes surprise prediction difficult.
Meanwhile, we caution investors against stocks with a Zacks Rank #4 or 5 (Sell-rated) going into the earnings announcement, especially when the company is seeing negative estimate revisions.
Stocks to Consider
Though an earnings beat looks uncertain for ExxonMobil, here are a few firms that you may want to consider on the basis of our model. These have the right combination of elements to post an earnings beat this quarter:
Headquartered in Irving, TX, Pioneer Natural Resources Company PXD primarily explores oil and gas and hence is an upstream energy player. The company has an Earnings ESP of +4.85% and a Zacks Rank #1. You can seethe complete list of today’s Zacks #1 Rank stocks here.
Headquartered in Houston, TX, Cabot Oil & Gas COG is also an upstream energy player. The company has an Earnings ESP of +15.15% and a Zacks Rank #1.
Headquartered in Calgary, Canada, Suncor Energy SU is primarily focused on integrated energy operations. Its Earnings ESP is +12.44% and it sports a Zacks Rank #1.
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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportSuncor Energy Inc. (SU) : Free Stock Analysis ReportExxon Mobil Corporation (XOM) : Free Stock Analysis ReportPioneer Natural Resources Company (PXD) : Free Stock Analysis ReportCabot Oil & Gas Corporation (COG) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research || Enterprise Products Partners' Record Results Were Just Business as Usual: For an investor looking at Enterprise Products Partners (NYSE: EPD) for the first time, this past quarter's results probably look great. Gross margins, net income, and cash flow all grew substantially and beat Wall Street's expectations. For those who have followed the company for a long time, though, these results aren't too much of a surprise as this quarter was pretty much business as usual for the oil and gas pipeline and processing giant. Let's sift through the company's most recent earnings results and other recent announcements to see what investors can expect from the company throughout 2018 and beyond. Enterprise Products Partners results: The raw numbers Metric Q4 2017 Q3 2017 Q4 2016 Gross operating margin $1.52 billion $1.31 billion $1.36 billion Net income $797 million $621 million $670 million EPS $0.36 $0.28 $0.31 Distributable cash flow $1.26 billion $1.06 billion $1.03 billion Data source: Enterprise Products Partners earnings release. EPS = earnings per share. After a bit of a Hurricane Harvey-related hiccup in the prior quarter , Enterprise came back this quarter with its best recorded quarter in terms of both profitability and pipeline and processing volumes for several of its business segments. Much of that growth came from its NGL and crude oil pipelines and services segments, which both recorded much better results than the prior year thanks to new projects coming online or ramping up activity. EPD gross operating margin by business segment for Q4 2016, Q3 2017, and Q4 2017. Shows large gains for NGL and crude oil businesses and flat results for natural gas and petrochemicals. Data source: Enterprise Products Partners earnings release. Chart by author. Unlike many other companies that have so far reported large one-time expenses or benefits related to the recent tax changes in the U.S., Enterprise's results were mostly unaffected by the change. That's because as a master limited partnership, the company passes any tax obligations to its individual owners. As a result, the company doesn't have high levels of deferred tax assets or liabilities needing to be adjusted to the new laws. Story continues What happened with Enterprise Products Partners this quarter? The company's capital spending in the fourth quarter was $1.0 billion, which lifted total spending in 2017 above its prior guidance to $3.4 billion. Management estimates that total spending in 2018 will be around $3.3 billion, $3.0 billion of which is for growth spending. This quarter's robust distributable cash flow growth led to a distribution coverage ratio of 1.3 times for the quarter and allowed management to retain $335 million for capital spending. For 2017, Enterprise generated $867 million in excess cash to support its capital program. Enterprise started operations at two of its largest capital projects this past quarter. Its Midland-to-ECHO crude oil pipeline and its propane dehydrogenation (PDH) unit. At the time of its earnings release, the PDH plant was running at near capacity and should start normal operations this quarter. In 2018, management estimates it will bring another $2.7 billion worth of its $5.5 billion in projects under construction to completion. This past quarter and so far in 2018, Enterprise has announced plans to convert one of its Permian Basin NGL pipelines to transport crude oil, expand its natural gas processing units in the Permian, and add more capacity to one of its processing facilities on the Gulf Coast. In conjunction with its earnings release, the company also announced it was forming a 50/50 joint venture with liquefied gas vessel company Navigator Holdings (NYSE: NVGS) to construct a 1 million ton per year ethylene export terminal on the Gulf Coast. No sticker price was given for the project, but the two expect to complete it by the first quarter of 2020. Oil export terminal Image source: Getty Images. What management had to say One of the more shocking twists this past year was when Enterprise announced that it was ratcheting back its distribution growth rate . The strategy behind that plan was to reduce the company's dependency on the equity market to fund its capital program. So, as part of CEO Jim Teague's press release statement, he went out of his way to explain how that decision is affecting its funding program this year and beyond: Enterprise reported record operating and financial results in 2017 as the energy industry began to emerge from a challenging three-year commodity cycle. We posted record liquid pipeline volumes and marine terminal volumes. Our strong financial performance in 2017 provided us the financial flexibility to provide our partners with 4.5 percent distribution growth and 1.2 times distribution coverage for the year while self-funding approximately 55 percent of the equity portion of our $3.1 billion of investments in organic growth capital projects and acquisitions during the year. Based on expected distributable cash flow growth from new projects and our existing assets, we believe we can deliver on our goal of providing our partners' moderate distribution growth and fully self-funding the equity portion of our growth capital investments in 2019, assuming $2.5 billion to $3.0 billion in growth capital expenditures. EPD Chart EPD data by YCharts . 10-second takeaway While Enterprise's fourth-quarter results were better than expected, it wasn't as though the company changed its business. It continues to deliver new growth projects on time and within budget while restocking its backlog with new opportunities like this ethylene export terminal. Also, with a slower distribution growth rate, we should expect its distribution coverage ratio to increase through this year and next as management strives to use less shareholder dilution to pay for growth. It may not affect Enterprise's total cash flow results over the long haul, but investors who hang on for years at a time should notice better per-share results. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Tyler Crowe owns shares of Enterprise Products Partners. The Motley Fool recommends Enterprise Products Partners. The Motley Fool has a disclosure policy . || Bitcoin extends slide, falls below $7,000: By Gertrude Chavez-Dreyfuss
NEW YORK (Reuters) - Digital currency bitcoin (BTC=BTSP) fell more than 15 percent on Monday to a nearly three-month low amid a slew of concerns ranging from a global regulatory clampdown to a ban on using credit cards to buy bitcoin by British and U.S. banks.
On the Luxembourg-based Bitstamp exchange, bitcoin fell as low as $6,853.53 in early afternoon trading in New York. That marked a fall of more than half from a peak of almost $20,000 hit in December.
Bitcoin has fallen in six of the last eight trading session.
The currency, which surged more than 1,300 percent last year, has lost about half its value so far in 2018, as more governments and banks signal their intention for a regulatory crackdown. Last week bitcoin suffered its worst weekly performance since 2013.
"We envisage this decline will continue, setting the next technical level at $5,000 a coin," said Miles Eakers, chief market analyst at Centtrip, which specializes in foreign exchange, worldwide payments and treasury management.
Other cryptocurrencies also suffered double-digit declines on Monday, according to industry tracker Coinmarketcap.com.
Ethereum, the second largest virtual currency, was last down nearly 19 percent at $703.40, while Ripple, the third largest, last traded at 71 cents, down 14.1 percent.
British bank Lloyds Banking Group (LLOY.L) said on Sunday it was banning customers from using credit cards to buy bitcoin. It joined U.S. banking giants JPMorgan Chase & Co (JPM.N) and Citigroup (C.N), which announced similar bans on concerns the lenders could be held liable when the volatile currencies plunge in value. [nL8N1PU10Y]
On Monday, India said it was planning steps to make virtual currencies illegal within its payments system and to regulate the trading of crypto assets.
"Cryptocurrencies have seriously fallen out of favor since the middle of December, and constant negative news flow and speculation of increased regulation has exacerbated the move lower," Craig Erlam, an analyst at currency broker Oanda, said.
The cryptocurrency sector has also attracted the spotlight after news of hacks and scams, including the roughly 58 billion yen ($532.9 million) stolen in digital money from Tokyo-based cryptocurrency exchange Coincheck two weeks ago. nL8N1PP6W8[]
But some investors were unfazed.
"Bitcoin has bounced back from similar collapses before during its short but volatile history, and it would hardly be a shock if those claiming the bubble has burst are surprised by yet another change in fortunes," said Dennis de Jong, managing director at online FX brokerage firm UFX.com in Limassol, Cyprus.
(Reporting by Gertrude Chavez-Dreyfuss; Additional reporting by Tommy Wilkes and Saikat Chatterjee in London; Editing by Leslie Adler)
[Random Sample of Social Media Buzz (last 60 days)]
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get_time:2018-02-06 22:16:03
display_time:2018-02-06 22:15:12 || @Momohfatai10 @hiboat2 @salyboyt @ToluAwe3 @ol_kehinde
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https://docs.google.com/forms/d/e/1FAIpQLSd4uSJnM9pvLglyUzAECbHgRHBAjqJHUlB-P2QDSqFNLFLzhg/viewform … || Hi, the daily payout and bitcoin mining has stopped updating. Why? || #Airdrop #Bitcoin #Blockchain #Bilibit #XRP
#Cryptocurrencies #Ethereum Join Bilibit Airdrop To get 1500 BLBhttps://goo.gl/DGFHn1 || Bitcoin Acceptance for Everyday Use (Infographic) #btc #xbt #fintech #currency #crypto #bitcoin #infographic http://makebitcoins.de/bitcoin-acceptance-for-everyday-use-infographic … || MIAMI Ultra-Luxury Real Estate #OceanSkyHomes: $4.990,00 (no bitcoin, ripple...) AMAZING 3 units combine 6... https://fb.me/7eNDyOjCs || No veo a los 'Bitcoin-eros' mamando como siempre. https://twitter.com/vive_usa/status/960918369032704000 … || Do the BTC will go down again???Please let us know.... || Comment la Blockchain pourrait tuer le câble et Netflix http://zpr.io/nTBgq Il est temps d'investir dans les bitcoins. Utilisez notre lien et gagnez $10 (8,4€) de bitcoins gratuits pour tout achat de $100 (€84) : https://goo.gl/L4crQN #bitcoin #bitcoins #crypto
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Trend: down || Prices: 8223.68, 8630.65, 8913.47, 8929.28, 8728.47, 8879.62, 8668.12, 8495.78, 8209.40, 7833.04
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2016-06-08]
BTC Price: 581.65, BTC RSI: 81.81
Gold Price: 1259.80, Gold RSI: 57.08
Oil Price: 51.23, Oil RSI: 73.28
[Random Sample of News (last 60 days)]
NY regulator approves Winklevoss bid to trade digital currency ether: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - New York state has approved the application of Gemini Trust Company, founded by investors Tyler and Cameron Winklevoss, to trade digital currency ether on its bitcoin exchange, Governor Andrew Cuomo announced on Thursday. Ether, an alternative currency that differs from bitcoin, is a token or digital asset of the Ethereum platform, a blockchain, or public ledger of all ether transactions. The platform uses ether to execute peer-to-peer contracts automatically without the need for intermediaries. The currency is often used by software developers. "With robust regulatory oversight, we are maintaining our status at the forefront of this technological revolution and ensuring that users have a safe and secure experience," Cuomo said in a statement. The approval by the New York State Department of Financial Services marks the state's first consent for a digital currency-related service beyond bitcoin. Trading on ether will begin on Monday, May 9, said Cameron Winklevoss, Gemini's co-founder and president, in an interview with Reuters. Customers will be able to store their ether from Thursday until it starts trading on the exchange on Monday. Winklevoss also said the brothers' investment firm Winklevoss Capital is a "significant" holder of ether. "We started buying ether at the beginning of the year," Winklevoss said. "Ethereum Foundation has a set number of ether that they have set aside over a period of time..(and) the proceeds from that go to the funding of the foundation and the developers to further the protocol." The Winklevoss twins chose ether to trade on their exchange because of its "unique capabilities" that are different from bitcoin. "There is a place for ether on our platform. It does what bitcoin doesn't do," Winklevoss said. "So that is the sort of criteria: that it is different enough from bitcoin and the proposition is great enough that this makes sense for us to include it in our platform." Story continues According to coinmarketcap.com, ether is trading at $9.97 on late Thursday, with a market capitalization of about $795 million, the second largest behind bitcoin. Bitcoin currently has a market cap of $6.9 billion. Daily volume for ether is around $20 million. Ether trades on other exchanges as well, but Winklevoss said those exchanges are unregulated or unlicensed. "It's pretty clear that in the U.S. if you're an exchange, you are required at the minimum a money transmission license in each state," Winklevoss said. "Anybody who's operating an ether exchange doesn't have a license and is on borrowed time." Demand for ether has steadily increased since its launch last year. "Most of the people who work on ether right now are (software) developers developing applications for smart contracts on Ethereum and you need ether to do that," Winklevoss said. Aside from developers, British pop artist Imogen Heap has put her music on the Ethereum platform. "She (Heap) created smart contracts on Ethereum whereby if you send enough ether to the address on the contracts, you can download her songs," Winklevoss said. (Reporting by Gertrude Chavez-Dreyfuss; Editing by David Gregorio and Andrew Hay) || NY regulator approves Winklevoss bid to trade digital currency ether: (Adds details on users of ether)
By Gertrude Chavez-Dreyfuss
NEW YORK, May 5 (Reuters) - New York state has approved the application of Gemini Trust Company, founded by investors Tyler and Cameron Winklevoss, to trade digital currency ether on its bitcoin exchange, Governor Andrew Cuomo announced on Thursday.
Ether, an alternative currency that differs from bitcoin, is a token or digital asset of the Ethereum platform, a blockchain, or public ledger of all ether transactions. The platform uses ether to execute peer-to-peer contracts automatically without the need for intermediaries. The currency is often used by software developers.
"With robust regulatory oversight, we are maintaining our status at the forefront of this technological revolution and ensuring that users have a safe and secure experience," Cuomo said in a statement.
The approval by the the New York State Department of Financial Services marks the state's first consent for a digital currency-related service beyond bitcoin.
Trading on ether will begin on Monday, May 9, said Cameron Winklevoss, Gemini's co-founder and president, in an interview with Reuters. Customers will be able to store their ether from Thursday until it starts trading on the exchange on Monday.
Winklevoss also said the brothers' investment firm Winklevoss Capital is a "significant" holder of ether.
"We started buying ether at the beginning of the year," Winklevoss said. "Ethereum Foundation has a set number of ether that they have set aside over a period of time..(and) the proceeds from that go to the funding of the foundation and the developers to further the protocol."
The Winklevoss twins chose ether to trade on their exchange because of its "unique capabilities" that are different from bitcoin.
"There is a place for ether on our platform. It does what bitcoin doesn't do," Winklevoss said. "So that is the sort of criteria: that it is different enough from bitcoin and the proposition is great enough that this makes sense for us to include it in our platform."
According to coinmarketcap.com, ether is trading at $9.97 on late Thursday, with a market capitalization of about $795 million, the second largest behind bitcoin. Bitcoin currently has a market cap of $6.9 billion. Daily volume for ether is around $20 million.
Ether trades on other exchanges as well, but Winklevoss said those exchanges are unregulated or unlicensed.
"It's pretty clear that in the U.S. if you're an exchange, you are required at the minimum a money transmission license in each state," Winklevoss said. "Anybody who's operating an ether exchange doesn't have a license and is on borrowed time."
Demand for ether has steadily increased since its launch last year.
"Most of the people who work on ether right now are (software) developers developing applications for smart contracts on Ethereum and you need ether to do that," Winklevoss said.
Aside from developers, British pop artist Imogen Heap has put her music on the Ethereum platform. "She (Heap) created smart contracts on Ethereum whereby if you send enough ether to the address on the contracts, you can download her songs," Winklevoss said.
(Reporting by Gertrude Chavez-Dreyfuss; Editing by David Gregorio and Andrew Hay) || How an early bitcoin leader is staying relevant in a blockchain frenzy: If you are interested in dipping a toe in the waters of the digital currency bitcoin, the easiest way is to buy some bitcoin, and arguably the best-known service for that is Coinbase.
The company launched four years ago today, and was one of the earliest bitcoin wallets—that is, simply, a place to buy and hold bitcoin. By being early to the craze, Coinbase became one of the most recognizable and respected brands in the bitcoin industry, it raised nearly $107 million in venture capital (by far the most raised by any bitcoin startupuntil 21 Inc. came along), and its co-founders, Brian Armstrong and Fred Ehrsam, became influential names in the business.
Lately, the narrative about the bitcoin world has shifted toblockchain, the decentralized, peer-to-peer, open-source technologythat powers bitcoin. (For an explainer, check out this video.) The idea of blockchain came about side-by-side with bitcoin in 2009, but now major banks and financial institutions are gaga over the idea of using blockchains to speed up their transaction processing—closed, private blockchains without bitcoin.
Now some of the hottest startups that started out as “bitcoin companies” have subtly edged away from bitcoin in their marketing.Bitreserve, a cloud bank that allows you to hold funds in many different currencies, changed its name to Uphold;Circle, which started as a bitcoin payment app, added the ability to deposit funds in U.S. dollars, and no longer mention bitcoin on its home page. Many bitcoin companies are focusing on blockchain and working with new partners who, in many cases, have no interest in a volatile cryptocurrency.
But Coinbase and its leaders are more bullish on bitcoin than ever.
“I think the whole narrative of blockchain without bitcoin will amount to very little,” declares Fred Ehrsam. In an interview with Yahoo Finance duringthe big bitcoin conference Consensusthis month, Ehrsam compared the current craze over blockchain to corporations that rushed to create “intranets” in the early days of the Internet—they were closed networks, accessible only to one company’s employees. And while those still exist at some companies today, most people eventually realized that they didn’t need to create private corners of the Internet, because the large, open Internet is good enough.
It is a popular comparison among bitcoin believers at the moment. Many people on the banking side of things, in visits with Yahoo Finance, have been dismissive of that dismissiveness. They see potential in blockchain technology to reduce friction in payments overseas, and maybe even speed the settlement of stock purchases.
Ehrsam’s point is that the bitcoin blockchain can already do that. A former Goldman Sachs (GS) foreign exchange trader, Ehrsam brings financial chops to bitcoin, a world which many of the most fervent supporters got into because they are anti-banking and anti-government. Ehrsam has said he aims for Coinbase to be a Goldman Sachs of cryptocurrency. Some in bitcoin would say it’s already there.
Coinbase has grown far beyond a mere bitcoin wallet: It has more than 2 million users; it is now operable in 32 countries; it recently launched the ability for U.S. customers to buy bitcoin instantly using a debit card (previously you had to link up a bank account and wait a few days, which was a nice illustration of the sluggishness of traditional banking); and most significantly, last year it launched an entirely new business: a bitcoin exchange.
Coinbase has major competition among bitcoin exchanges. Many, many exchanges have sprung up in the past two years, includingone from the Winklevoss brothers, Gemini, which last year scored regulatory approvalfrom the New York Department of Financial Services to operate as a trust, and this month got new approval to add the ability for customers to trade Ether, a much-hyped alternative digital-currency to bitcoin. Coinbase, in contrast with Gemini, did not wait for regulatory approval in New York before launching. But a report just this week from Reuters suggeststhe NYDFS is set to grant Coinbase a BitLicenseanyway, which, if true, will certainly make Coinbase look like it was smart not to wait. After a little over one year in business, Coinbase says it has the most liquid bitcoin exchange in the U.S.
Meanwhile, Ehrsam and Armstrong have become key voices in a wonky internal debate in the bitcoin world over whether to increase the block-size limit of bitcoin’s blockchain. In simplest terms, transactions are recorded on the blockchain in bundles called blocks, but the blockchain has slowed down recently under the weight of larger transactions. Some in bitcoin want to raise the limit to allow for larger blocks, while others don’t want bitcoin mining to get to a point where a personal laptop can’t handle the data. Ehrsam and Armstrong are in the former camp, and Armstronghas written publicly on the block size debate.
To be sure, many titans of Wall Street are still certain that while blockchain technology is heating up, bitcoin, the currency, is on its way to the grave. JPMorgan (JPM) CEOJamie Dimon has called bitcoin "doomed."Nonetheless, Ehrsam is laser-focused on a business plan that depends on people like Dimon being very wrong. The value of bitcoin, by the way, is up 91% in the last year.
--
Daniel Roberts is a writer at Yahoo Finance, covering technology and sports business.Follow him on Twitter at@readDanwrite.
Read more:
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
Here's a sign that PayPal is embracing Bitcoin || Here's where big banks stand on blockchain: In case you haven’t heard,blockchain is all the rage lately on Wall Street, whereas bitcoin, the digital currency that blockchain came along with in 2009, is suddenly very uncool.
Blockchain, by the way, is the decentralized, peer-to-peer, open-source, distributed ledger technology that underlies bitcoin. (Check out ourvideo explainer on blockchain.) The bitcoin blockchain is just one use case of the technology; lately the idea of utilizing the same technology, apart from cryptocurrency, has become popular. As Bloomberg’s Matt Levine wrote earlier this month, “If you are any sort of self-respecting financial or finance-adjacent professional these days,you had better be inserting the word ‘blockchain’ into random sentencesto prove that you're up to speed.”
Indeed, banks and financial services have certainly hopped aboard the blockchain train. But behind public press releases about initiatives and blockchain experimentation, executives at these companies differ greatly in their thinking on the technology and their faith in it.
Father-and-son team Don and Alex Tapscott, both business strategy consultants, have a new book out today called “Blockchain Revolution: How the Technology Behind Bitcoin is Changing Money, Business and the World.”A more apt title might hedge that the technology “could” change the world, but the book makes a convincing case for why blockchains might revolutionize the financial sector. (And and many other sectors, but for now, the excitement is starting with finance.) For their research, the Tapscotts spoke to numerous people in banking.
Alex Tapscott says people in banking fall into four categories right now in their attitudes about blockchain. It’s worth including here his full explanation, as told to Yahoo Finance:
“There are still a few who are generally afraid of this or don’t fully buy into it, but are trying to learn more. That’s increasingly a minority. More people these days fall into a second category, which is they see this as an opportunity to reduce cost in their existing business. That’s interesting. But for us, the bigger opportunity, and I think increasingly more financial services firms fit into this, is to say, How can we use this new technology platform to fundamentally reinvent our business? If billions of people in the world don’t have access to financial services, maybe we can be the ones to harness this new technology to offer them the same services we offer our existing clients. Now, there’s a fourth category of course: if you’re a bank that thinks this is all nonsense, I would highly recommend you at least upgrade to fearful. Because this change is happening.”
Well, blockchain believers may say the change is happening. And there are signs that is the case. To cite just two examples:More than 45 banks have signed on to blockchain consortium R3 CEV, including Goldman Sachs (GS), JPMorgan (JPM), and Bank of America (BAC), to test out blockchain tech for their transaction-settling processes; andblockchain startup Chain recently announced it had completed a blockchain-for-banking productand revealed Citi (C), Visa (V), and other heavy-hitters as launch partners.
But bitcoin believers (and yes, there are still many) say thatthe concept of closed, permissioned blockchains, without digital currency, doesn’t make much sense. At most, bitcoin executives say, it can improve back-office I.T. functions of banks, which is a rather unsexy proposition for a technology that can do much more. Some are hopeful that blockchains can eventually deliver a decentralized form of all kinds of technology platforms, including, say, Uber. “It’s the disruptors themselves that stand to be disrupted,” Alex Tapscott says, describing the possibility of a "super Uber" that cuts out the middleman operator.
As Don Tapscott explains, banksshouldbe thinking bigger than they are. They ought to be aiming to revamp their systems entirely, rather than simply to improve efficiencies and reduce costs. “The blockchain is the biggest innovation in computer science in a generation, we think," he says. "And what it represents is the Internet of value. We’ve had the Internet of information for several decades. But when it comes to exchanging value—not just money, but music or loyalty points or stocks or bonds—you can’t do that in a peer-to-peer way without a powerful intermediary. This has resulted in a situation where powerful intermediaries are capturing all the value of the digital age."
That phrase, the "Internet of value," or something very close to it, has been used before to describe bitcoin and the blockchain. In fact,it’s the subject of an ongoing dispute between a prominent “cloud money” startup and an equally prominent figurehead within the bitcoin community. The latter, Andreas Antonopoulos, argues that “Internet of Money” is the best phrase to describe the promise of bitcoin, and that no one company ought to be using it as a corporate slogan.
Balaji Srinivasan, a partner at mega-influential VC firm Andreessen Horowitz and the CEO of bitcoin software company 21.co, has a similar idea for bitcoin, and is skeptical of the “blockchain minus bitcoin” fad. His vision:To create a “machine economy” in which computers can pay each other seamlesslyin bitcoin.
As the Tapscotts do make clear in their book, we are still in the early days of this space. It is so early, in fact, that much of the mainstream media only covers this industry when there are salacious new reports ofwho might be the real Satoshi Nakamoto, the creator of bitcoin. They are missing what is really going on here, but they still have ample time. In the simultaneous races to innovate in both bitcoin and blockchain, there is not yet any clear victor.
The Blockchain Revolution is available now. Watch the above video for a more in-depth discussion about the book with its authors.
--
Daniel Roberts is a writer at Yahoo Finance, covering technology and sports business. Follow him on Twitter at@readDanwrite.
Read more:
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Bitcoin's biggest investor just bought its biggest news site || 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 are C-Cex and Yobit . 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. || Bitcoin exchange Coinbase to add ether currency to trading platform: NEW YORK, May 19 (Reuters) - Bitcoin exchange Coinbase said late Thursday it will add digital currency ether on its trading platform next Tuesday.
With the launch of ether trading next week, Coinbase is also changing the name of its platform to GDAX (Global Digital Asset Exchange), said Adam White, vice president of business development and head of GDAX.
Coinbase, widely believed to be the largest bitcoin-focused company in terms of investment, will offer ether/dollar and ether/bitcoin currency pairs.
Ether is the digital currency for the Ethereum platform, a blockchain, or public ledger that can create decentralized applications. Ethereum uses ether to execute peer-to-peer contracts automatically without the need for intermediaries.
(Reporting by Gertrude Chavez-Dreyfuss; Editing by Bernard Orr) || 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) || 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) || NY regulator approves Winklevoss bid to trade digital currency ether: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - New York state has approved the application of Gemini Trust Company, founded by investors Tyler and Cameron Winklevoss, to trade digital currency ether on its bitcoin exchange, Governor Andrew Cuomo announced on Thursday. Ether, an alternative currency that differs from bitcoin, is a token or digital asset of the Ethereum platform, a blockchain, or public ledger of all ether transactions. The platform uses ether to execute peer-to-peer contracts automatically without the need for intermediaries. The currency is often used by software developers. "With robust regulatory oversight, we are maintaining our status at the forefront of this technological revolution and ensuring that users have a safe and secure experience," Cuomo said in a statement. The approval by the New York State Department of Financial Services marks the state's first consent for a digital currency-related service beyond bitcoin. Trading on ether will begin on Monday, May 9, said Cameron Winklevoss, Gemini's co-founder and president, in an interview with Reuters. Customers will be able to store their ether from Thursday until it starts trading on the exchange on Monday. Winklevoss also said the brothers' investment firm Winklevoss Capital is a "significant" holder of ether. "We started buying ether at the beginning of the year," Winklevoss said. "Ethereum Foundation has a set number of ether that they have set aside over a period of time..(and) the proceeds from that go to the funding of the foundation and the developers to further the protocol." The Winklevoss twins chose ether to trade on their exchange because of its "unique capabilities" that are different from bitcoin. "There is a place for ether on our platform. It does what bitcoin doesn't do," Winklevoss said. "So that is the sort of criteria: that it is different enough from bitcoin and the proposition is great enough that this makes sense for us to include it in our platform." According to coinmarketcap.com, ether is trading at $9.97 on late Thursday, with a market capitalization of about $795 million, the second largest behind bitcoin. Bitcoin currently has a market cap of $6.9 billion. Daily volume for ether is around $20 million. Ether trades on other exchanges as well, but Winklevoss said those exchanges are unregulated or unlicensed. "It's pretty clear that in the U.S. if you're an exchange, you are required at the minimum a money transmission license in each state," Winklevoss said. "Anybody who's operating an ether exchange doesn't have a license and is on borrowed time." Demand for ether has steadily increased since its launch last year. "Most of the people who work on ether right now are (software) developers developing applications for smart contracts on Ethereum and you need ether to do that," Winklevoss said. Aside from developers, British pop artist Imogen Heap has put her music on the Ethereum platform. "She (Heap) created smart contracts on Ethereum whereby if you send enough ether to the address on the contracts, you can download her songs," Winklevoss said. (Reporting by Gertrude Chavez-Dreyfuss; Editing by David Gregorio and Andrew Hay) || Microsoft Goes Deeper into Blockchain Technology with R3CV Deal: Blockchain and BMW: Microsoft Is Making Big Strides ( Continued from Prior Part ) Microsoft took its BaaS service a notch higher with R3CV partnership Previously in this series, we discussed Microsoft (MSFT), which true to its partnership strategy in the past has partnered with R3CV to push itself ahead of its peers in the blockchain technology space. Since late 2014, Microsoft has tested and accepted bitcoin and its foundation technology, blockchain. In late 2015, Microsoft partnered with ConsenSys and offered EBaaS (Ethereum blockchain-as-a-service) on MS Azure. This BaaS offering is designed to allow partners to interact with different technologies in a relatively low-risk environment such as smart contracts, social networking, and tax reporting services. ConsenSys is a blockchain startup focused on Ethereum technology, which offers an alternative platform to Bitcoin. Unlike bitcoin, which was primarily designed as an exchange of digital currency, Ethereum provides a broader vision to businesses. Anything that can be digitized—including cryptocurrencies, derivatives trading, securities trading, and settlement—will be a service on Ethereum. Primary factors driving the adoption of blockchain technology According to McKinsey and Accenture (ACN) and as the above chart shows, the financial crisis and the increasing preference toward cryptocurrencies are the key factors that could be instrumental in the increased adoption of blockchain technology. This explains Microsoft’s increased initiatives to cement its place in the blockchain technology space, which is bound to see increased adoption. Partnering with R3CV, as well as offering third-party blockchain offerings on Azure, could lead to Microsoft winning business from the world’s leading banks. According to Gil Luria, an analyst at Wedbush Securities, “Microsoft continues to take a leadership position in integrating blockchain technology into its product roadmap.” Luria added, “The relationship with R3 provides Microsoft access to R3’s high-quality collection of the largest banks in the world, which is the most likely group to make early investments in implementing blockchain technology.” Story continues Later in this series, we will discuss how blockchain technology has attracted Microsoft’s peers RedHat (RHT) and IBM (IBM). Investors who wish to gain exposure to Microsoft could consider investing in the Technology Select Sector SPDR ETF (XLK). While XLK invests ~10.6% of its holdings in Microsoft, it also has an exposure of ~38% to application software. Continue to Next Part Browse this series on Market Realist: Part 1 - Microsoft Azure Wins a High-Profile Customer in BMW Part 2 - How Microsoft’s Azure Is Giving Stiff Competition to Amazon’s AWS Part 3 - Why Microsoft’s Partnership with R3CV Is Making News
[Random Sample of Social Media Buzz (last 60 days)]
#STV 0.00000300 BTC(-0.57 %) | Market Cap 21 BTC | Volume(24h) 0.00 BTC | Available Supply 7,069,776 STV || Bitstamp: $457.00/BTC - last trade of USD/BTC at https://www.bitstamp.net/ (high: 461.00, low: 455.95) #bitcoin #BTC http://bitcoinautotrade.com || LIVE: Profit = $2,865.32 (1.35 %). BUY B468.37 @ $450.70 (#BTCe). SELL @ $458.00 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || In the last 10 mins, there were arb opps spanning 10 exchange pair(s), yielding profits ranging between $0.00 and $618.86 #bitcoin #btc || LIVE: Profit = $326.29 (4.05 %). BUY B19.53 @ $420.00 (#VirCurex). SELL @ $430.04 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || 1 KOBO = 0.00001400 BTC
= 0.0081 USD
= 1.6131 NGN
= 0.1222 ZAR
= 0.8184 KES
#Kobocoin 2016-06-04 12:00 pic.twitter.com/ANiL7N41xa || LIVE: Profit = $356.64 (4.42 %). BUY B19.53 @ $420.00 (#VirCurex). SELL @ $431.53 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || LIVE: Profit = $749.65 (9.32 %). BUY B19.49 @ $420.00 (#VirCurex). SELL @ $451.91 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || 1 #bitcoin 1707.89 TL, 565.701 $, 506.867 €, GBP, 35100.00 RUR, 62200 ¥, CNH, CAD #btc || #EuroCoin #EUC $ 0.000103 (-0.94 %) 0.00000023 BTC (0.00 %)
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Trend: up || Prices: 574.63, 577.47, 606.73, 672.78, 704.38, 685.56, 694.47, 766.31, 748.91, 756.23
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2018-07-06]
BTC Price: 6673.50, BTC RSI: 51.00
Gold Price: 1254.30, Gold RSI: 37.08
Oil Price: 73.80, Oil RSI: 65.69
[Random Sample of News (last 60 days)]
New Zealand dollar rallies and then turns around on Friday: The New Zealand dollar has gone back and forth during the past couple of days, as we continue to consolidate. I think that the market trying to rally during the day on Friday and then turning around rather significantly suggests that we are very likely to continue to go lower overall. I think that the market participants will continue to look for value in the greenback, and that the New Zealand dollar will of course continue to suffer at the hands of higher interest rates in the United States. Beyond that, there is a high expectation of correlation to Asia, which is underperforming North America right now. If we do break down below the 0.69 level, we will probably make another run towards the 0.6850 level, and then possibly the bottom of the longer-term consolidation area at the 0.68 handle. That being said, we have made a “lower high” as of late, so I think that’s the most likely of situations to happen. As I record this video, the US dollar continues to strengthen against several currencies around the world and there’s no reason to think that the Kiwi dollar would be any different. In fact, this pair tends to be more sensitive to US dollar strength and many others, so it might make for a nice trade although we don’t have as far to fall as we do in other pair such as the GBP/USD. Rallies at this point in time will continue to struggle with the idea of breaking above the 0.70 level. NZD/USD Video 28.05.18 This article was originally posted on FX Empire More From FXEMPIRE: Bitcoin markets fall again during the week, slicing through major support Natural gas markets rocket to the upside during the week FTSE 100 tries to rally during the week but fails Bitcoin Cash, Litecoin and Ripple Daily Analysis – 26/05/18 DAX struggles during the week Crude oil markets have a rough week and sell off drastically on Friday || Why Cypress Semiconductor Is Poised to Keep Its Growth Engine Humming: Hassane El-Khoury took over the reins of Cypress Semiconductor (NASDAQ: CY) in August 2016, and the new CEO didn't take long to establish his footprint on the way the company did business. In February 2017, El-Khoury unveiled Cypress 3.0, which was his vision of targeting markets growing at a faster pace than the overall semiconductor industry. Since then, the company has made impressive progress on its strategy of selling embedded chips into niches such as automotive, consumer, and industrial products, as evident from its first-quarter 2018 results , which showed a 9.5% year-over-year jump in unadjusted revenue. More importantly, it now gets almost two-thirds of its total revenue from two segments that could keep growing at a decent pace for a very long time. A processor on an integrated circuit. Image Source: Getty Images. Pulling the right strings IHS Markit estimates that the number of connected cars on roads will triple over the next six years, with sales expected to reach 72 million units by 2023. These connected cars are fitted with a bunch of advanced electronics features such as infotainment systems, advanced driver assistance systems (ADAS), and electronic instrument clusters. These electronics require fast read-and-write times so they can boot up quickly. Additionally, they also need to process data rapidly to enable time-critical functions such as a collision avoidance in connected cars. Such tasks can't be performed by traditional hard drives because they aren't as reliable and fast as flash memory, and this is where Cypress' NAND and NOR flash memory offerings come into play. Cypress' NAND and NOR flash memories can operate up to temperatures of 125 degrees Celsius (257 degrees Fahrenheit), meeting the qualification standards set by the Automotive Electronics Council. Not surprisingly, they are being used by companies engaged in the development of connected cars, and half of Cypress' NOR flash output is being consumed by automotive platforms. Story continues For instance, automotive component suppliers Bosch and Denso recently chose Cypress' automotive-grade NOR flash memories for developing next-gen ADAS solutions. The good part: Bosch and Denso are the top two automotive OEM (original equipment manufacturer) suppliers globally, so Cypress can ride their coattails and tap the fast-growing ADAS market that's expected to grow 24% annually through 2021. Cypress says it supplies its wireless connectivity chips to the top eight automotive OEMs . It is not surprising to see Cypress' automotive revenue increased 15% last quarter and now accounts for 34% of its overall revenue. By comparison, global car sales were up just 2.3% in 2017, which means that the Cypress 3.0 strategy is reaping rewards already. But automotive isn't the only key growth driver for Cypress. Its consumer business supplies 31% of the top line, and it has some nice catalysts -- including the transition to USB-C technology -- that could boost the business in the long run. The chipmaker is currently the leader in the USB-C market with a share of 38% thanks to its relationships with five of the top six PC makers. USB-C adoption is gathering impressive traction thanks to the technology's various advantages such as 50% faster charging over traditional ports. IHS Markit estimates that the number of devices with at least one USB-C port will touch 5 billion in 2021 as compared to 300 million a couple of years ago. Assuming that Cypress keeps control over even 30% of this market, its USB-C shipments could grow massively in the next four years. Cypress' foray into lucrative chip markets will bring more business, as the company claims that its design wins increased 23% year over year during the latest quarter. But more importantly, the chipmaker will grow profitably as its new ventures are proving to be margin-accretive. Stronger margins in the cards Cypress' gross margin shot up 660 basis points last quarter to 45.9%, helping the company post GAAP net income of $9.1 million as compared to a loss of $43 million in the prior-year period. Meanwhile, adjusted net income more than doubled to just over $100 million, and Cypress credited this to the "ramping of new products at attractive margins." The chipmaker believes that it can hit a 50% gross margin level, and it has been undertaking smart steps to achieve the same. One such strategy is to move into niches where it can gain a product lead over rivals and sell its chips at a higher price. For instance, Cypress is extremely focused on Wi-Fi and Bluetooth combo chips, as a majority of the market is now moving toward this platform. Cypress claims that it is currently leading this space and doesn't face any serious competitive threats. For instance, it is the only player in the market to provide a chip that enables multiple devices in a car to connect to the infotainment system and stream unique content to each device. This innovative product has helped Cypress land a premium customer in the form of German luxury carmaker Audi, which is already using its new automotive-grade Wi-Fi and Bluetooth combo chip in the 2018 A8 sedan. More importantly, Cypress plans to cross-sell its combo chips into broader Internet of Things verticals thanks to their low power consumption, long-lasting life, and long-range coverage. This will positively impact its margins, since it costs less to sell a product to an existing customer than to acquire a new one. Investors are getting a good deal Cypress has posted a GAAP loss over the trailing 12 months, so it doesn't have a trailing price-to-earnings (P/E) ratio . But we saw earlier that it turned profitable last quarter, and it looks on track to expand its margins further. This is probably why Wall Street attributes a forward P/E ratio of 12 to Cypress, which is well below the industry's multiple of 27.7 times. At this valuation, Cypress Semiconductor should be an enticing bet for investors looking to take advantage of booming tech trends. 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 Harsh Chauhan has no position in any of the stocks mentioned. The Motley Fool recommends Cypress Semiconductor. The Motley Fool has a disclosure policy . || US dollar choppy against Canadian dollar again on Monday: The US dollar rallied 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. USD/CAD Video 08.05.18 This article was originally posted on FX Empire More From FXEMPIRE: 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 || Could Sprint Corporation Be a Millionaire-Maker Stock?: Is Sprint (NYSE: S) the kind of company and stock that could make you rich beyond your wildest dreams? In a word, no. For a more detailed discussion of why it isn't, please read on. The times, they are a-changin' Sprint might have looked like a fairly plausible wealth-builder just a few weeks ago -- for investors with an appetite for big risks and dreams of big rewards. The eternal underdog in the North American wireless communications market saw its share prices plunging 44% lower between April 1, 2017 and the same date in 2018. At that point, Sprint bulls and other optimists could have argued that the company was primed for a huge turnaround that would unlock an equally massive bounce in Sprint's share prices. It would only require a great 5G upgrade cycle, one awesome ad campaign, some kind of huge mistake driving subscribers away from larger rivals AT&T and Verizon , or some combination of these trigger events. Stranger things have happened, right? A hand holding up an Erlenmeyer flask containing a glowing image of a bag marked with a dollar sign. Image source: Getty Images. But that turnaround idea is off the table now. Near the end of April, fellow mini-major telecom T-Mobile US (NASDAQ: TMUS) finally got around to filing a proper takeover bid for Sprint. After several years of merger rumors and failed negotiations , T-Mobile put together a $26 billion stock-swap bid . When you account for T-Mobile shouldering Sprint's $33 billion of net debt, the enterprise value of the deal comes out to nearly $60 billion. What's in it for Sprint investors? That's the endgame for Sprint investors. No matter what happens next, buying Sprint shares today isn't likely to make you any significant amount of money -- and certainly not the manifold multiples it would take to create a million-dollar nest egg out of a few thousand dollars. Let's say that T-Mobile and Sprint dance through all the regulatory challenges and shareholder votes, closing their merger exactly as planned. In that case, each 9.75 Sprint shares you own turn into a single T-Mobile stub instead. The final deal value depends on T-Mobile's performance rather than Sprint's. Since Sprint trades roughly 10% below T-Mobile's target price, you could unlock a small arbitrage premium by picking up Sprint shares instead of T-Mobile. But a 10% one-time premium is hardly a massive wealth-building tool. Story continues On the other hand, you'd also have to accept the risk of T-Mobile failing to close the merger as planned. Regulatory reviews could weigh the deal with burdensome requirements or even halt the whole idea. Japanese telecom SoftBank , which owns 80% of Sprint, could get cold feet and cancel the agreement. And that's just a couple of the roadblocks the two telecoms must overcome -- many things could go wrong along the way. And if the merger falls apart for any reason, both T-Mobile's and Sprint's shares are sure to plunge on the news. Given the sad state of Sprint's business trends, I'm not sure that its shareholders would ever recover. So you have to weight this potential disaster against the 10% premium we looked at a minute ago. Hold your horses with tight reins Buying Sprint shares today is more of a gamble than an investment. The potential payoff is small, but the risks are huge. This is no millionaire-maker stock today, but perhaps a millionaire-breaker. I'm staying far away from Sprint's stock until further notice. Feel free to follow my lead. 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 owns shares of T-Mobile US. The Motley Fool owns shares of Verizon Communications. The Motley Fool recommends T-Mobile US. The Motley Fool has a disclosure policy . || 'Invest in Bitcoin? I built a cryptocurrency factory in my bedroom instead': Demitrios Achilleos set up his own 'crypto factory', left, last year. He first considered buying Bitcoin but decided it was too expensive Last year I built my own cryptocurrency factory in my bedroom. When the soaring price of Bitcoin started to be discussed on television and among my friends in 2017, understanding cryptocurrencies became a social necessity. Everyone was talking about it, so I was forced to investigate just to be able to participate in the conversations. The more I read, the more intrigued I became: I saw that digital currencies were a platform for innovation not just a way to make money but a possible replacement for existing currencies worldwide. As a 17-year-old at the time, I found the idea hugely exciting. How I got started as crypto miner I spent a month last summer getting to grips with the different types of cryptocurrency, such as Bitcoin, Ethereum and Ripple, and learning the technical terms. At the beginning I saw myself as a potential investor and buying, like many others, into the currencies in the hope of making huge, quick profits as the price continued to soar. I could even see my Bitcoin profits funding my university course, which is due to begin this autumn. So I was excited to get straight into the buying and selling of the currency until I realised that a single Bitcoin already cost $4,000 (£2,980), which was well out of my reach. As I could not afford to invest other than in a tiny fraction of the currency, which seemed unappealing, I turned my attention to mining: making my own. What is cryptocurrency, how does it work and why do we use it? I already possessed the makings of a crypto factory in the form of my own personal computer. I discovered that, when I wasnt using it for gaming, my very efficient computer was perfectly capable of mining digital currency. However, I decided to invest in upgrading the PC with a faster graphics card, which would allow it to produce cryptocurrency more quickly. I spent £355 on one of the best graphics cards for mining on the market. I then found out that mining Bitcoin involved consuming extremely large amounts of power, so I decided to investigate other cryptocurrencies that I might be able to produce more efficiently. Story continues Browsing online, I found a video about an alternative cryptocurrency called Zcash. It seemed to have all the potential of Bitcoin advanced blockchain technology and security but was much cheaper to produce. I found some free software online for mining Zcash and was ready to go. A Bitcoin mining machine in Canada Credit: Christinne Muschi/Bloomberg How the numbers stacked up The biggest cost for a crypto miner is electricity. You need to leave your computer running non-stop if you want to make maximum use of it, but this involves not only the cost of the mining itself but also the cost of keeping the computer cool. Fortunately, at that time I was living in Trinidad, which according to my research had the second-cheapest electricity in the world at just five US cents (3.7p) per kWh, compared with a typical cost of 17.2p per kWh in Britain. As a result, in Trinidad the electricity needed to make one Bitcoin would cost about $1,190 (for comparison, the market price of Bitcoin this week was $7,800). To make a unit of Zcash, by contrast, costs only $208.60, compared with a market price this week of $235. After a year of mining, my computer had produced 2.1 units of Zcash, worth about $500 at the time. However, the electricity needed to produce those units had cost $438. The headline profit of $62 at that point was not enough to recoup the outlay on the graphics card. However, my computer is still in constant use, mining Zcash around the clock, so I continue to make a passive income. Perhaps one day I will have amassed a serious sum, especially if cryptocurrency prices recover. If I had spent more and built a more powerful mining station, I could have made much more money. The lesson I learnt was that it takes money to make crypto money. Demitrioss cryptocurrency mining 'factory' What is cryptocurrency mining? The blockchain technology used by the likes of Bitcoin involves a digital ledger. Rather than one central organisation, such as a bank, verifying transactions and keeping a record of them, this ledger is spread among market participants. Transactions require verifying before they can added. Many cryptocurrencies use a so-called proof of work system. This involves miners dedicating computing power to solving complex mathematical problems to verify transactions. Systems vary between cryptocurrencies of which there are more than 1,500 but typically miners are rewarded with cryptocurrency for completing these tasks and keeping the system running. They make money if this reward exceeds the cost of mining. Mining operations range from people using their home PC to huge, purpose-built facilities occupying warehouses. Bitcoin mining alone is estimated to consume more electricity than all of Ireland. Bitcoin | Your essential guide || What GE's Big Changes Will Mean for Investors: General Electric Company (NYSE: GE) CEO John Flannery finally concluded his strategic review, and it did so with a bang. The announcement to separate GE healthcare as a stand-alone company was framed as a strategic decision, but it almost seems to be a forced response to weakness in GE's power and capital segments. Let's take a look at what happened and why, and how it changes the investment proposition. A chart trending down and then up. GE's moves bought more time to turn around other parts of the company. Image source: Getty Images. GE's original plan As Flannery was formerly the head of GE healthcare, it figures that no one else is more ideally suited to understanding that the segment is better off outside of GE. In fact, there is a strong case for arguing that Flannery should have taken this action in November of last year. Instead, he chose to exit $20 billion worth of other businesses and focus GE on power, aviation, healthcare, and renewables while exploring strategic options for GE's stake in Baker Hughes, a GE Company . In a nutshell, the earnings and cash flow from the highly successful aviation and healthcare segments were supposed to buy time for management to restructure power and get the ailing segment's margin back somewhere near historical figures. The expectation was that 2018 would mark a trough in GE's free cash flow (FCF) generation, leading to notable improvement in the coming years. What happened to it Unfortunately, events didn't quite work out as expected since November, and GE investors have been hit with a number of negative developments in the last six months: End-market conditions in power continued to deteriorate, and GE was forced to, de facto, reduce its power segment earnings guidance by some $500 million -- equivalent to around $0.05 in earnings per share (EPS). Management guided investors to the low end of its 2018 EPS guidance of $1 to $1.07. The company took an $11.2 billion hit from a combination of $3.4 billion in U.S. tax charges, $1.8 billion in impairments in GE capital, and a whopping $6.2 billion charge for re-evaluating assets (life and health reinsurance contracts) held over from businesses sold over a decade ago. GE set aside $1.5 billion for an investigation settlement with the Justice Department relating to its now-defunct subprime mortgage business WMC Mortgage Corp. Story continues All of this hit the stock price hard, and despite the recent rally, it's still down more than 20% on a year-to-date basis as of this writing. There were legitimate fears that GE would miss its 2018 EPS guidance and its free cash flow guidance of $6 billion to $7 billion in 2018. Analysts rushed to downgrade the stock (the analyst consensus for 2018 EPS is just $0.94), and credit rating agencies lowered GE's rating . Flannery had to take action The latest cut to GE's credit rating came from Fitch ; the agency highlighted a few key issues, including the need for GE to improve FCF generation, reduce its reliance on unsecured short-term debt, and lower its net debt-to-EBITDA (earnings before interest, tax, depreciation, and amortization) ratio -- credit rating agencies typically view a debt-to-EBITDA ratio of 2.5 times or less as suitable for investment-grade debt. Flannery had little choice but to do something to shore up a deteriorating balance sheet and deal with investors' fears that the company's cash situation would compromise being able to adequately restructure it. What GE is planning Fast-forward to GE's latest presentation, and the gist of Flannery's new plan is to reduce net debt by $25 billion by 2020 and, in doing so, reduce the company's net debt-to-EBITDA ratio from 3.5 times in 2018 to 2.5 times in 2020. CFO Jamie Miller said, "To achieve this reduction, we will transfer approximately $18 billion of debt and pension obligations to Healthcare with their separation, and pay down approximately $9 billion of debt in commercial paper in 2019 and 2020." The expectation is that GE healthcare is attractive enough of an asset that GE can transfer $18 billion into its debt and still successfully spin off the business while monetizing the 20% of GE healthcare that GE will hold (the remaining 80% will go to GE shareholders). Meanwhile, the remaining stakes in Baker Hughes and Westinghouse Air Brake Technologies (Wabtec) can be used to generate cash. In addition, GE has its ongoing FCF generation and the proceeds from its existing plan to dispose of $20 billion worth of GE assets. All told, Miller argued that "these potential transfers or sources total more than $60 billion. We believe we have ample means to bring our leverage down and achieve our net debt reduction." What it means for investors To understand the change in the investment proposition, it's useful to think in terms of three loosely defined camps of investors. The first is the naysayers who don't believe GE will turn around the power segment as planned and that it will instead have issues executing on its plans -- this group will actually be more worried by the changes, because power is going to be even more important now that healthcare is being separated. The second group is the optimists who believe GE will engineer a turnaround in prospects and that the stock is a great value anyway -- this group would probably welcome the healthcare move because it will release value in a business that isn't really complementary to GE's core power, aviation, and renewables businesses. The third group is a broad swath of investors whose main concern has been that the deteriorating balance sheet, credit rating, and near-term earnings and cash flow difficulties will pressure Flannery's ability to get GE back on track. This group is likely to be appeased by the move to shore up the balance sheet and the plan to get back to an acceptable net debt-to-EBITDA ratio. Flannery has bought some time with this move and helped remove some uncertainty around the stock for these investors. That's a good thing, and it makes the company more investment-worthy for those willing to give him a chance. 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 Lee Samaha has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Westinghouse Air Brake Technologies. The Motley Fool has a disclosure policy . || There's a Downside to Shake Shack's Evolution Away From New York City: Shake Shack (NYSE: SHAK) recently announced first-quarter results that were embraced by Wall Street. The upstart burger chain didn't solve its customer traffic challenge, but its latest numbers gave investors hope that market-thumping growth pace could continue, and that the company might just reach management's aggressive goal of doubling the store base by 2020. The first quarter figures also showed that some important operating metrics will worsen as the company extends its restaurant base outside of its core New York City roots. Let's dig in to the results. A man takes a bite of a burger. Image source: Getty Images. A decent growth quarter Revenue spiked 29% to maintain about the same growth pace from the prior 12 months. As usual, most of those gains came from a rising store base. Shake Shack's store count jumped to 168 this quarter from 127 a year ago. Its comparable-store footprint, or locations that have been open for at least 24 months, increased to 44 from 32. Those existing restaurants are looking a bit healthier right now, as comparable-store sales growth, or comps, accelerated to a 1.7% pace from 0.8% in the prior quarter. Increased prices played the biggest role in that boost, with a 6% price spike helping overcome continued struggles with falling guest counts . Customer traffic dropped 4.2%, compared to a 3.2% dip in fiscal 2017. The slight improvement in growth didn't do much to close the gap with rival chain McDonald's , whose sales rose 5.5% during the same period. But the rebound does imply that Shake Shack might avoid its second straight year of falling comps. Growing pains Shake Shack's earnings profile is shifting as the company moves its store base outside of its intense geographic focus on New York City. The share of the restaurant base located in that metropolitan area dipped to 36% from 41% in the prior quarter, and that shift pushed average weekly sales down to $81,000 from $86,000 since the new openings weren't in as densely populated markets. Story continues Reduced sales volumes joined with a few expense challenges to push overall profitability down. Shake Shack allocated more cash toward wages while spending heavily on its digital sales strategies. As a result, operating margin fell to 6.6% of sales from 7.3% last year. Chart showing sales composition by region. Sales in New York City are falling as a percentage of overall sales. Image source: Shake Shack investor presentation. Yet the burger chain still generates impressive profits. Restaurant-level margins, which describe profitability on a per-unit basis, held steady at 25% of sales. Chipotle 's comparable metric was 20% in the most recent quarter. Keep an eye on profits and traffic CEO Randy Garutti and his executive team said the sales growth acceleration at existing restaurants marked a solid start to the year. As a result, management now believes Shake Shack will see a tiny uptick in comparable-store sales in 2018 rather than the flat performance they had predicted back in February. Meanwhile, the chain is planning its biggest year yet of store launches, and these include new markets such as Seattle and San Francisco. The good news is that these openings are spreading out Shake Shack's sales base so that it isn't so dependent on conditions in the northeastern part of the country . But while upcoming store launches include big metropolitan areas like Houston and Los Angeles, they'll still pinch average sales volumes and profitability. Those challenges, plus ongoing struggles with falling customer traffic, put even more pressure on Shake Shack's store expansion strategy to deliver on management's optimistic growth targets. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Demitrios Kalogeropoulos owns shares of McDonald's. The Motley Fool is short shares of Shake Shack. The Motley Fool has a disclosure policy . || Could iRobot Corporation Be a Millionaire Maker Stock?: iRobot Corporation's(NASDAQ: IRBT)stock has fallen nearly 40% from its 52-week high as everything from concerns over holiday discounting toweaker than expected guidance have hit the stock.Through it all, however, revenue and net income have continued to charge higher for the robotic vacuum maker.
If we take a long-term view of iRobot's business, there's still a lot to like, and this could be a stock that generates a lot of wealth over time.
IRBT Revenue (TTM)data byYCharts
Robotic vacuums may not sound like a booming business, but iRobot is already generating nearly $1 billion in revenue per year, and is just scratching the surface of its potential. According to iRobot's management, RVC's installed base of 13 million households is only about 10% of its potential market in the U.S.
Another way to look at it is that robotic vacuum cleaners (RVCs) only accounted for 23% of the $7.5 billion spent on $200+ vacuums in 2017. Competitors likeSamsung,LG,Panasonic, and others have tried to enter the RVC space, but iRobot has maintained its niche and holds a 62% market share of RVCs globally.
There's a lot of potential for RVCs to increase their market share globally, and that's a wave iRobot can ride for years to come.
Image source: iRobot.
As much as I like iRobot's vacuum business, it's the company's growth into adjacent markets that will probably power long-term growth. iRobot isn't just developing a remote control vacuum, it's developing the controls that power the Roomba's movement and the mapping software that makes sure an entire home is cleaned. That's technology that can be used in a number of adjacent markets.
iRobot has already extended the product line to the Braava mop and the Mirra pool cleaner. Both products extend the niche of cleaning robots, andleverage technology originally developed for Roomba.
Management isn't disclosing what its high-risk growth projects consist of, but we know lawn care is an area where iRobot has tested products. The product hasn't hit the market yet, but it's easy to see how movement controls and mapping technology developed for the home could be translated to the lawn as well.
What I like about iRobot is that it's a focused company with a profitable niche. An advantage of owning a niche like robotic vacuums is that development costs can be spread across a higher volume of sales. Operating leverage on development costs have combined with economies of scale to push margins 500 basis points higher in the last six years, and that trend should continue.
iRobot has also just started to scratch the surface of its global potential. I mentioned that the U.S. market penetration for RVCs is only 10%, and U.S. sales are expected to account for half of all sales in 2018. iRobot has expanded into Europe, the Middle East, Africa, and Japan, but most of Asia and Latin America are still untapped.
Shares of iRobot aren't cheap at nearly 30 times 2018 earnings estimates, but given the growth the company has demonstrated and the potential for growth going forward, I think it's still a great buy for investors. Long-term, it's the kind of stock that can make investors millionaires.
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Travis Hoiumhas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends iRobot. The Motley Fool has adisclosure policy. || 3 Shiny New Crypto and Blockchain ETFs: I don’t have to tell you that the blockchain and the technology’s resultant cryptocurrencies have singlehandedly altered the investment landscape. That said, most traditional investors don’t want to touch the crypto token’s inherent volatility with a 20-foot pole. It would seem like sector-related exchange-traded funds, or blockchain ETFs, offer a happy medium … but this too encounters resistance.
One of the most common criticisms about crypto funds, such as theBitcoin Investment Trust(OTCMKTS:GBTC), is that it charges an incredible premium against the underlining asset. Last month, I mentioned that GBTC essentially charged a62% premiumover the bitcoin price. With such an outrageous “tax” on the crypto, why not just get bitcoin itself?
Under any other circumstance, it’s a fair and valid question. However, cryptocurrencies operate under a different paradigm. Not only can blockchain reward tokens turn on a dime, security and fungibility are bigger concerns for the crypto markets. For investors who want exposure to cryptocurrencies without dealing with extracurricular activities (ie. exchange hacks, government crackdowns), blockchain ETFs present the next best choice.
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Granted, nothing in the investment markets is without risk, and that goes quadruple for cryptocurrencies. But because blockchain ETFs are governed by securities laws, they can’t arbitrarily disappear. This comfort in having government-backed protection, and possibly recourse should things go awry, isn’t cheap; hence, the “outrageous” premium.
• 7 'Strong Buy' Stocks Analysts Are Upgrading Now
It all depends on your investing style and risk tolerance. If you’d like to take the leap, but with some protection, here are three crypto and blockchain ETFs to consider!
Source: Shutterstock
Expense Ratio:0.7%, or $70 per $10,000 invested annually.
Some countries embrace cryptocurrencies, while (many) others don’t.Take Japan. Many bitcoin proponents consider the island nation to be a Switzerland of sorts for crypto investors. That’s why if you’re looking for blockchain ETFs with long-term upside potential, you need to considerAmplify ETF TR/Transformational DA(NYSEARCA:BLOK).
You’ll find that most blockchain ETFs get their claim to fame by integrating companies that utilize crypto-based technologies. In that regard, BLOK is no different from the rest. What makes this fund stand out, though, is its leverage towards Japanese firms. Names like internet-service providersDigital Garage Inc(OTCMKTS:DLGEF) andGMO Internet Inc(OTCMKTS:GMOYF) are buried deep in our over-the-counter markets. But with BLOK, they’re among thetop four holdings.
Digital Garage is a particularly intriguing name due to its disruptive cred. In a society that values unity over individuality, Digital Garage is a positive anomaly. Moreover, the company hasforged key allianceswith blockchain partners, with an aim to make Japan the top cryptocurrency market. GMO Internet, on the other hand, launched a crypto“forex” exchangelast year.
Best of all, if these two companies don’t pan out, BLOK has several top names under its belt. For a speculative but smart shot at cryptocurrencies, BLOK is a prime candidate!
Source: Shutterstock
Expense Ratio:0.68%
Compared to BLOK,Reality Shs ETF/Nasdaq Nexgen Econo(NASDAQ:BLCN) has more of a domestic flavor. The majority of its holdings (45%) are American companies, followed by Japan in a distant second place (14%). Furthermore, BLCN theoretically should be more stable than many other blockchain ETFs. Large-capitalization firms comprise 80% of the BLCN holdings, while micro-caps and small-caps comprise 5% and 2%, respectively.
However, I wouldn’t consider BLCN as merely a “dumbed down” play on the crypto markets. Its top two companies areIntel Corporation(NASDAQ:INTC) andMicrosoft Corporation(NASDAQ:MSFT). Both tech giants have performed notably well this year. INTC is up 16.3% since its January opener, while MSFT has gained a respectable 13.4%. In a way, BLCN is the best of both worlds: a fund levered towards established stalwarts but with strong upside potential.
The other advantage to BLCN is that most, if not all, of their holdings have multiple revenue streams. Intel has benefitted recently due to favorable conditions in the semiconductor market. Microsoft made incredible strides in its ongoing rivalry withApple Inc. (NASDAQ:AAPL). In addition, MSFT, along withSony Corp (ADR)(NYSE:SNE), dominates the always lucrative video-gaming industry.
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With several options at its disposal, BLCN is more likely to come out on top!
Source: Shutterstock
Expense Ratio:0.65%
If you have a little bit of that gambling spirit — and if you’re reading a blockchain ETFs to buy article, you probably do! — check outInnovation Shares NextGen Protocol ETF(NYSEARCA:KOIN). On surface level, KOIN doesn’t sound particularly risky. Virtually all of its holdings are inlarge-cap companies, two-thirds of which are headquartered in the U.S.
But it’s the top holdings that makes KOIN an exciting play. Curiously, credit-card companyVisa Inc(NYSE:V) is in pole position with a 7.31% weighting. Visa has made unfortunate headlines earlier this year, with CEO Alfred Kellydismissingthe crypto sector’s validity. So why on earth would KOIN lean so heavily toward Visa?
Although it’s speculation on my part, I believe the fund architects view the blockchain as an unignorable innovation. With more people increasingly utilizing cryptocurrencies, Visa and its ilk can’t play “too cool for school.” Apparently,American Express Company(NYSE:AXP) saw the writing on the wall. AXP initiated a partnership using theRipple blockchainto replace the aging (and inappropriately titled) Swift transaction system.
The KOIN gamble? That Visa andMastercard Inc(NYSE:MA) will get off their high horse and join the party!
Granted, it is a risky play considering how stodgy Visa is. But if you’re observing macro trends, you have to love the KOIN ETF!
As of this writing, Josh Enomoto is long bitcoin and SNE.
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The post3 Shiny New Crypto and Blockchain ETFsappeared first onInvestorPlace. || Ethereum Smart Contracts only Good in ‘Kangaroo Courts’: NYU Prof. Nouriel Roubini: New York University (NYU) professor Nouriel Roubini is famous for his bearish economic prognostications, but in the cryptocurrency community “Dr. Doom” is better known for his utter disdain for all things blockchain — and the colorful manner in which he elucidates this distaste.
In this latest episode, Roubini turned his attention tosmart contracts, which predate the advent of cryptocurrency but are best known for their association with Ethereum and other blockchain projects.
“‘Smart Contracts’ are neither smart nor contracts: they are extremely buggy -100 bugs per 1000 lines of code – & they are not contracts as no court can enforce them,” he wrote. “The only courts in crypto land are the crypto developers’ kangaroo courts who randomly decide when to fork or not.”
Roubini was indirectly replying to asuggestionfrom Ran Neu-Ner — CNBC Africa’s resident cryptocurrency bull — that Ethereum’s support for smart contracts will propel the platform to mass adoption, which he defined as 100 million users.
Roubini’s assertion that smart contracts have 100 bugs per 1,000 lines of code is perhaps a bit hyperbolic, but it’s no secret that the immutability of these programs has led to high-profile — andexpensive— code faults. Litecoin creator Charlie Lee even suggested at one point that Solidity, the programming language for ethereum smart contracts, is a “hacker paradise” due to its complexity.
In this particular back-and-forth, Roubini’s critical perspective toward smart contracts found an unlikely ally in Bitcoin developer Jimmy Song.
“The dirty secret of smart contracts is that they’re of very limited usefulness and extremely hard to secure. More limitation is required here, not more ways to screw up. The hype and the engineering reality are extremely divergent,” Song said.
In any case, Roubini haslong been bearishon the asset class writ-large, especially when it comes to bitcoin, whose backers he has referred to as “Hodl nuts” and “cyber terrorists.”
Perhaps hismost memorable tiradecame last month at the Milken Institute Global conference in Los Angeles when he said that bitcoin is “bulls–t” and that blockchain is nothing more than a “glorified Excel spreadsheet.”
Roubini, incidentally, has been gleefully predicting bitcoin’s demise since it was $58. He’s still waiting.
Featured Image from Shutterstock
The postEthereum Smart Contracts only Good in ‘Kangaroo Courts’: NYU Prof. Nouriel Roubiniappeared first onCCN.
[Random Sample of Social Media Buzz (last 60 days)]
#Kroos How do bitcoin exchanges make money? http://bit.ly/2Dy4OVR pic.twitter.com/pr1cvhp1Vo || Bitcoin (BTC) Price Watch: Upside Break or Quick Pullback?
#BitcoinUnLimited #BitcoinPrice #BitcoinMining #BitcoinExchange #bitcoinsallday
https://coinnewstelegraph.com/bitcoin-btc-price-watch-upside-break-or-quick-pullback/ …pic.twitter.com/SFcwThLVoX || #BTCUSD Market #1H timeframe on July 6 at 01:00 (UTC) is #Bearish. #cryptocurrency #bitcoin #btc #crypto #trading #idea #report technical analysis || #BTC: $6574.47 (0.30%)
#ETH: $468.26 (0.30%)
#XRP: $0.491 (3.96%)
#BCH: $770.32 (-0.06%)
#EOS: $8.86 (3.53%)
#LTC: $86.13 (3.00%)
#XLM: $0.210 (1.45%)
#ADA: $0.160 (7.78%)
#IOTA: $1.17 (4.35%)
#TRX: $0.038 (-0.34%)
#NEO: $37.54 (7.26%) || or,@twitter @Bitcoin @CoinMKTCap Mine leetcoin thegeohashingcoin @Bitcoin @bitcointrader http://www.mediafire.com/file/8ni3v5dtk4ldtaf/leetcoin-qt-windows.zip … … … … …officialreleasein3days… …@Twitter @GooglePlay flappy flippin bee is now up for grabs https://play.google.com/store/apps/details?id=com.banditsgames.flippinbee&rdid=com.banditsgames.flippinbee … … … || $50.00 GekkoScience 2PAC Rev2 BM1384 USB Bitcoin Mining Miner Stick SHA256 15GH/s #cryptocurrency #miner http://ceesty.com/wHg6ee pic.twitter.com/0nHcxRWHan || 2018-06-18 10:00:04 UTC
BTC: $6471.88
BCH: $838.66
ETH: $496.15
ZEC: $185.67
LTC: $94.61
ETC: $14.15
XRP: $0.5191 || John McAfee For President? - NULS #1 on GitHub [Daily Bitcoin and Cryptocurrency News]: http://youtu.be/ULRE7wRdOQ8?a via @YouTube || Steve Wozniak: El Bitcoin debería ser la divisa universal del internet https://www.coincrispy.com/2018/06/05/wozniak-bitcoin-divisa-internet/#.WxbDL_pl2l8.twitter … || Bitcoin Cash $BCH price converted to intl currencies
24,914.57 Peso
1,201.67 Dollar
3,338.87 Real
1,179.23 Dollar
886.79 Franc
5,746.34 Yuan
768.00 Euro
673.13 Pound
12,437,080.33 Rupiah
60,699.53 Rupee
$BCH = $891.26
|
Trend: down || Prices: 6856.93, 6773.88, 6741.75, 6329.95, 6394.71, 6228.81, 6238.05, 6276.12, 6359.64, 6741.75
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2019-12-30]
BTC Price: 7293.00, BTC RSI: 47.83
Gold Price: 1514.50, Gold RSI: 70.34
Oil Price: 61.68, Oil RSI: 66.15
[Random Sample of News (last 60 days)]
Simon Malls Has 5 New Bitcoin ATMs With Bitstop Partnership: Crypto ATM provider Bitstop is rolling out new machines in partnership with the U.S.s largest retail shopping mall operator. Bitstop installed five bitcoin ATMs in Simon Property Group locations over the past month in Carlsbad Premium Outlets in Carlsbad, California, Mall of Georgia in Buford, Georgia, Miami International Mall in Miami, Sawgrass Mills in Sunrise, and The Avenues in Jacksonville, Florida expanding the companys exposure to first-time bitcoiners as it eyes a booming crypto ATM market. Theyre part of Bitstops drive to woo crypto newcomers: people who shop in malls, dont understand blockchain and have never opened a bitcoin wallet, according to co-founder and CEO Andrew Barnard. Related: Paxful Plans to Bring 20 Crypto ATMs to Colombia He said these locations are akin to the old cliche: If you build it, they will come. Once you put these ATMs down and you give people easy access, the people go and figure out how to use it, Barnard said. With these new locations, Barnard says Bitstop is continuing to build out exposure among newcomers and handhold them through the process of buying their first bitcoin. He said the kiosks represent a gateway to first-timers. Barnard said Bitstops data demonstrates a wide variety of users and use cases. He said people purchase from an ATM as an investment, but also to then buy online or send remittance payments home. Related: Coinsquare, Just Cash Partnership Enables Non-Bank ATM Crypto Transactions The average purchase is $160 dollars. And Barnard said traffic is especially heavy around the first and 15th day of each month, which he said is payday for many users. Placing them in malls in time for the holiday shopping season positions Bitstop for a customer influx. Americas 10 busiest shopping days are set to come between Black Friday (Nov. 29) and Jan. 1, data analysis firm Sensormatic predicts. That foot traffic increases exposure and drives new users, who associate longevity with the physicality of the ATMs, Barnard said. Story continues Having it at a mall makes people go, wow, I guess bitcoin is going to be around for a long time, he said. Bitstop is one of the older players in the American Bitcoin ATM sphere. Barnard said the company launched in 2013 and installed its first bitcoin ATM two years later, in Florida. However, its network of 130 U.S. kiosks are dwarfed by some of the larger brands. LibertyX, the first company to release a Bitcoin ATM back in 2014, installed its 1000th location this summer . Bitcoin ATMs are a rapidly-growing corner of the retail crypto space. Kiosks have been installed in convenience chains across the Southwest, Family Dollar stores and gas stations. There are now some 6017 such ATMs around the world, according to Coinatmradar.com , up 30 percent from its estimate at the start of 2019 . Related Stories 2,000 More US Grocery Stores Enable Bitcoin Buying at Coinstar Machines Bitcoin ATM Startups Say Theyre Booming, Thanks in Part to Venezuela || Turkey’s ‘digital lira’ ready to deploy in 2020: In 2018, Turkey faced one of the worst currency and debt crises in its history. The Turkish lira fell so dramatically that on May 23, 2018, foreign exchange markets in Istanbul ceased trading lira due to extreme lows. The aftermath of the crisis forced credit rating agencies to downgrade Turkey’s debt and credit ratings , with many analysts predicting an incoming recession and austerity measures. As part of an effort to revitalise the Turkish economy, President Erdogan’s government released plans in July 2019 to create a central bank-issued digital currency. Now, the new national digital currency has been given a date for completion as Turkey moves ahead with its economic recovery. Digital lira to deploy in 2020 The currency, aptly named the ‘digital lira’, was first presented to the Turkish parliament’s Planning and Budget Commission by Vice President Fuat Oktay. As part of Turkey’s medium-term 2019-2023 economic development roadmap , the new digital currency will be developed alongside Turkey’s central bank and the TUBITAK technology research council. President Erdogan has now revealed that the digital currency may be ready to deploy sooner than previously thought. The Resmi Gazete , the Turkish government’s official journal, stated that tests of the digital lira are on course to be finished by the end of 2020. It’s expected that the digital currency will go live shortly after. The digital lira will enable instantaneous transactions between Turkish citizens and offer a new range of decentralised financial instruments for the Turkish economy. Turkey’s Ministry of Treasury and Finance has also indicated that it intends to promote “digital transformations”, including encouraging initial coin offerings as a means to support new enterprise. Digital currencies find popularity in Turkey Because of the struggling Turkish lira, indicators show that Turkey is a strong contender for digital currency adoption. In fact, many young Turkish people turned to cryptocurrencies during the economic turmoil of 2018 as a safe hedge to protect their capital against inflation. Story continues Estimates show that during the worst of the lira crisis, cryptocurrency trading volumes skyrocketed. Koinin, Turkey’s largest crypto exchange at the time, saw Bitcoin trading volume rise over 60% in the same period that the lira’s value fell over 10%. The Turkish government’s efforts to expedite the development of its own national digital currency may well be fuelled in part by the strong demand for digital currencies among the country’s young population. To find out more about the appetite for crypto assets in Turkey, click here . The post Turkey’s ‘digital lira’ ready to deploy in 2020 appeared first on Coin Rivet . || Bitcoin bulls fighting to defend $7,300: Bitcoins 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 cant 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 Bitcoins 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, were six months away from the next halving. However, weve now had a 51% dip in price since Octobers spike. Bitmains CEO Jihan Wu has publically said he doesnt 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 Bitcoins 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 were 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 bottoms in, Id 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 . || Russias Largest Bitcoin Mine Turns Water Into Cash: (Bloomberg) -- Bitriver, the largest data center in the former Soviet Union, was opened just a year ago, but has already won clients from all over the world, including the U.S., Japan and China. Most of them mine bitcoins. The company rents a building near the Bratsk aluminium plant. The worlds single largest aluminum smelter was built by the USSR in 1960s along with the nearby hydropower plant as energy is the largest cost in aluminium smelting. Photographs by Andrey Rudakov/Bloomberg On top of the power supply, another thing that makes Bratsk an ideal place for crypto is the Siberian climate with its long and cold winters. Low temperatures are good for the data center equipment. Billionaire Oleg Deripaskas team came up with the idea of building the data center in Bratsk about five years ago. En+ Group Plc and its unit United Co. Rusal, which the sanctioned businessman used to control, own the Bratsk hydropower and aluminium plants. While Russian law doesnt recognize crypto mining, Bitriver isnt engaged in mining itself and only provides equipment at the data center and technical services, meaning its business is legal. Deripaskas companies spent nearly 10 months under sanctions before he reached an agreement with U.S. Treasury to cut his control. The penalties were lifted in January. Continuing sanctions on En+ could have caused troubles for the cryptocurrency miners. En+ supplies up to 100 megawatts of power to Bitriver per year as a way to diversify its client base and sell excess energy. Cheap and stable power is also a key ingredient for crypto mining. En+ and Bitriver also have a venture that provides computer racks to crypto miners. To contact the authors of this story: Yuliya Fedorinova in Moscow at [email protected] Atkinson in London at [email protected] To contact the editor responsible for this story: Tom Hall at [email protected] For more articles like this, please visit us at bloomberg.com ©2019 Bloomberg L.P. View comments || This isnt a dip, its a falling knife, says gold bug Peter Schiff: When the markets bleed and cryptocurrency enthusiasts recoil to lick their wounds, plenty of people prepare their victory dance. Among the long list of Bitcoin bashers is Euro Pacific Capital CEO and well-known gold bug Peter Schiff. Taking to social media platform Twitter yesterday, clearly rubbing his hands with glee at the bleeding markets, Schiff was quick to point out both Ether and XRPs catastrophic losses this year . He said: Earlier this year Ether, the #2 crypto by market cap was up over 150%, and now its down YTD. Ripple, the #3 crypto, has also give up its earlier gains and is now down over 50% YTD. Earlier this year Ether, the #2 crypto by market cap was up over 150%, and now it's down YTD. Ripple, the #3 crypto, has also give up its earlier gains and is now down over 50% YTD. There are still plenty of trading days left in the year for #Bitcoin to end 2019 with a loss! Peter Schiff (@PeterSchiff) December 18, 2019 He couldnt say the same about Bitcoin, though. Despite the bearish trend yesterday, BTC is still up well over 100% from the start of the year. Schiff didnt miss an opportunity to spread a little extra FUD however, saying: There are still plenty of trading days left in the year for #Bitcoin to end 2019 with a loss! Maybe so, but apparently the markets did not agree with him, with every major cryptocurrency in the green today including Ether and Ripples XRP. Bitcoin is also firmly back above $7,000 at the time of writing. Bitcoin outperformed every major asset this year While its true that the earlier summer highs of more than $13,000 were not to last, BTC has still outperformed all major asset classes this year, even as it hovers above $7,000. The number one cryptocurrencys YTD performance of ~140% as of November 2 still vastly outshines the Nasdaq 100 (28.93%) as well as top tech companies like IBM (19.23%) and Apple (62.8%) and commodities like oil (21.06%). Story continues 2019 Returns
Bitcoin: +142% Nasdaq 100 $QQQ : +30% REITs $VNQ : +30% S&P 500 $SPY : +24% Oil $USO : +21% Small Caps $IWM : +19% EAFE $EFA : +18% Gold $GLD : +18% Investment Grade $LQD : +16% High Yield $HYG : +12% EM $EEM : +11% US Bonds $AGG : +9% US Dollar $UUP : +4% Cash $BIL : +1.8% Charlie Bilello (@charliebilello) November 2, 2019 And how about Peter Schiff and his much-beloved gold? Bitcoin has torn strips off the precious metal this year. Arguably its main competitor as a safe-haven investment, gold has registered meagre gains of just 19.16% at the time of writing. None of this information appeared in Schiffs social outcry yesterday, of course, which naturally prompted a slew of comments from crypto supporters. Some pointed out the inaccuracies in his tweet, saying: Ripple is not a coin. #XRP is number 3. Shows how much you actually know about cryptos. While others were quick to remind him that even as BTC languished under $7,000, it was still up 100% compared to gold at not even 20%. One cheeky follower simply asked, When do we buy the dip?, to which Schiff fired back, This isnt a dip, its a falling knife. This isn't a dip. It's a falling knife. Peter Schiff (@PeterSchiff) December 18, 2019 A knife that appears to be rising once more. Featured image by Thanh Tran on Unsplash The post This isnt a dip, its a falling knife, says gold bug Peter Schiff appeared first on Coin Rivet . || Does an Ethereum ASIC unlock greater value for miners?: The launch of ASIC rigs for Ethereum’s blockchain hasn’t gone down well among the Ethereum community, with many arguing the network will be harmed and the price of ETH will suffer. For miners, however, an ASIC rig offers greater efficiency and speed than a traditional GPU, which manufacturers argue will enable miners to unlock more value. Who is correct in the long term remains to be seen, but for anyone with an interest in mining ETH, it’s a debate worth exploring. ASICs versus GPUs A Graphics Processing Unit (GPU) is a chip or electronic circuit which can render graphics for display on an electronic device. Although their primary purpose is to manage and boost the performance of video and game graphics, GPUs are also very good at solving complex maths problems to verify cryptocurrency transactions. Most GPUs can be bought fairly cheaply from standard technology stores. An ASIC, on the other hand, which stands for “application-specific integrated circuit”, is a highly specialised device that is designed for a specific purpose. For instance, a chip designed to run in a digital voice recorder or a high-efficiency Bitcoin miner is an ASIC. Because ASICs focus on one specific purpose, they tend to be better at that task than more general devices, but this comes at a cost. ASIC rigs for cryptocurrency mining can cost several thousand pounds. Ethereum mining Traditionally, Ethereum has been mined using GPUs, but this could be about to change. Bitmain introduced the first Ethereum ASIC in 2018, and it is now being joined by Linzhi and Canaan. Although ASIC mining rigs are more efficient at processing hash functions – which, in turn, means potentially higher profit margins for miners – their introduction into the Ethereum blockchain has been widely criticised. Many people even want Ethereum to undergo another fork to shield it from ASIC mining rigs. The main issue, critics argue, is that ASIC rigs result in the creation of huge mining farms which can control the future development of cryptocurrencies – in essence, they could undermine decentralisation. Story continues Sam Doctor, a managing director at Fundstrat Global Advisors, has said ASICs could have a negative impact on the Ethereum community and therefore on the Ethereum price. Pros and cons for miners The main advantage of using an ASIC to mine Ethereum is it is far more efficient than a GPU. Canaan’s new Ethereum ASIC, for instance, is around five times more efficient than commercially available GPUs. Bitmain’s E3 Ethereum mining device can mine at 190 megahashes per second (MH/s), and the target for Linzhi’s Ethash ASIC miner is 1,400 MH/s. The higher the mining efficiency, the higher the potential profits. Although ASICs have a higher initial price tag, miners only require a web browser to operate an ASIC, whereas setting up mining with a GPU requires miners to buy a lot of extra parts. Getting started with an ASIC is simpler, and ASICs use less power than GPUs, so electricity costs are lower. The biggest drawback to using an ASIC is it is specific to one algorithm, whereas a GPU can be used to mine any coin. The risk of mining only one coin is very high – if the value of the coin plummets or developers decide to change the hash algorithm, the ASIC will effectively become useless. Another disadvantage stems from the fact that the difficulty of mining a coin depends on the computing power of the network. Once an ASIC for a particular coin is released, the difficulty for that coin increases and the profitability of the ASIC eventually starts to fall. ASICs in the future Even if lots more Ethereum miners choose ASICs over GPUs, which seems unlikely given their high initial costs and coin-specific attributes, some people believe ASIC mining rigs will actually have a limited impact on Ethereum’s network. Ethash, the algorithm used to mine Ethereum, is designed to be ASIC-resistant, and Ethereum is due to move towards a Proof of Stake (PoS) algorithm at some point in the future. Under a PoS model, new coins are assigned based on stakes held by each node instead of computation-intensive mathematical problems. This model would eventually put an end to mining on the Ethereum blockchain. The post Does an Ethereum ASIC unlock greater value for miners? appeared first on Coin Rivet . || How to make money with Bitcoin: With Bitcoin dominating the headlines for the past few years, it’s no surprise that lots of people are keen to find out how they can make money from the world’s largest cryptocurrency. Thanks to the coin’s growing popularity, there are now a whole host of ways to make money with Bitcoin. The method you choose will depend on a range of factors like your technical knowledge, investment experience, how much risk you’re willing to take, and how quickly you want to see rewards. Bitcoin mining The most obvious way to make money with Bitcoin is through Bitcoin mining – the process by which new coins are created and transaction information is verified. Mining is performed by high-powered computers which solve complex mathematical problems. Miners are rewarded Bitcoin whenever they add a new block of transactions to the blockchain. In the early days of Bitcoin, it was possible to make a decent amount of money with limited expenditure. Over time, however, mining Bitcoin has become a lot harder and more competitive. More processing power is required, which means miners need specialised equipment and must fork out a lot of money on electricity. For those who can’t afford a large mining rig, the only feasible way to make money through Bitcoin mining is to join a mining pool and combine your processing power with other miners. Investing in Bitcoin You can invest in Bitcoin by buying and holding the cryptocurrency in the hopes it will increase in value over time. Bitcoin is extremely volatile and high-risk, so investing is only recommended for people who have a good level of knowledge and can afford to lose their investment. You also need to be patient, as it could take a very long time for your Bitcoin to grow in value. If you do want to invest in Bitcoin, it’s important to store your crypto in a digital wallet to keep it safe. Trading Bitcoin Trading Bitcoin is even riskier than investing in Bitcoin, but if you’re successful, it can be very lucrative. The idea is to buy Bitcoin at a low price and sell it soon after at a higher price, thereby banking the profits. Story continues Trading is only suitable for people who have experience and knowledge of the market, but even then the risk of losing money is extremely high. Some people choose to run a Bitcoin trading bot, such as 3Commas. A trading bot has a set of parameters and indicators which when met will cause the bot to sell or buy on the exchange you prefer. Bots are efficient because they minimise human error, eliminate decisions based on emotion, and calculate formulae much faster than people can. However, they can be expensive and aren’t really designed for novice traders. Another option to consider is contracts for difference, where you buy a contract for Bitcoin without actually buying or storing the coin itself. Bitcoin lending It is possible to get high returns from Bitcoin lending, although again it carries a very high level of risk. By using a website such as Unchained Capital, Bitbond, or BTCpop, you can lend your Bitcoin to another person at an interest rate of up to 15%. The main risk is that the borrower doesn’t pay you back, meaning you’ll have lost the entire loan amount. Micro jobs and Bitcoin faucets Some websites enable you to carry out small tasks in return for small amounts of Bitcoin. The tasks could include retweeting a post, testing a plugin, or watching a YouTube video. Websites to check out include Coinworker, Microworkers, Bitcoinget, and Cointasker. Similarly, a Bitcoin faucet website dispenses small rewards for visitors to claim in exchange for completing a captcha or other task described by the website. There are also paid-to-click websites which pay Bitcoin if you visit particular websites or view certain ads. These methods are simple, low-risk ways to earn Bitcoin, although the amount of money you can get is pretty negligible. Run a signature campaign Bitcointalk, one of the oldest Bitcoin forums originally set up by Satoshi Nakamoto, enables you to get paid by sponsors for posts you make on the forum. You need to post consistently and achieve minimum word limits to get a decent level of payment. Get tipped You can get tipped in Bitcoin by helping other people through platforms such as bitfortip. You can assist with a range of problems like finding a certain pair of shoes or identifying a song in a film. Conclusion Whether you’re new to the cryptocurrency market or an experienced trader, there are numerous ways you can make money with Bitcoin. Just make sure you assess the risks and level of knowledge required before you take the plunge. The post How to make money with Bitcoin appeared first on Coin Rivet . || How Many More Birthdays Until Bitcoin Wins?: John Biggs is CoinDesk’s multimedia editor. The views expressed here are his own.
Bitcoin just turned 11and it’s worth looking at what this technology has achieved. First, some context.
Facebook is 14 while Twitter is 13. Linux is 28. The World Wide Web – the network you’re reading this on – is 30. TCP/IP is about 44 years old, depending on whom you ask.
Related:Bitcoin’s Defense of Major Support May Fuel Price Bounce to $9,600
If you’re into a bitcoin, you’re most likely18 to 34 years old, according to pollsters at the Global Blockchain Business Council. And you probably joined the bitcoin party about five years ago and own some fraction of or even a full coin. Some of you own many, many more.
I’m about as old as TCP/IP. I’m part of the generation that saw computing’s evolutionary bloom. If you’re younger, you’ve gotten used to modern networking technology and you don’t remember a time when everything wasn’t done on a screen. You were there for the birth of bitcoin.
But on the 11th anniversary of the white paper’s publication, we face a question: How long must we wait until bitcoin becomes like Twitter or Linux, something you use every day? Ten years? Twenty?
Bitcoin, from the vantage point of pure adoption, has been a failure. But it remains a beacon, the best chance we have for truly shaking up the status quo and, ultimately, changing the way we interact with our fellow global citizens.
Related:Bitcoin Price Slides 2% After Deribit, Coinbase Flash Crash
When will we be using bitcoin daily? When will the underlying technology embed itself into the fabric of our financial lives?
Shrug. We don’t know.
A billion people use Facebook every month. On Twitter, it’s 330 million. Both services ramped up quickly but really took off in the last few years. Linux is on 98 percent of servers worldwide – that took a while but ramped up after the dot-com boom. The web is everywhere, but that took a solid 20 years to happen.
How many people use bitcoin? It’s hard to gauge on a decentralized network designed for anonymity. For a rough proxy,CoVenture Researchsays there are “11.2 million bitcoin addresses that hold at least .001 BTC,” or about $9 worth.
That’s a big number, more than the number of people in New York, including the outer boroughs. Of course, a single user can, and often does, control multiple addresses. Yet if anything, this estimate may be too conservative. An April 2019 survey by Harris Poll, done for Blockchain Capital, found9 percent of Americans–27 million people– own bitcoin.
All told, it’s safe to say that if the crypto community were a country, it would be bigger than Belgium.
But it’s not 330 million and it’s not a billion. It’s enough that the average investor and programmer will take notice and it’s enough for Hollywood to consider the topic interestingenough for an awful movie. But 11 million in 11 years is not good for bitcoin.
If bitcoin were a startup it would exist in theValley of Death. In the startup world, an app with 11 million users is strong enough to generate some revenue but not interesting enough to attract massive investment. Bitcoin is like that. It works, but not enough to turn heads outside of a vocal minority.
So where is bitcoin going? Is 11 million enough? How many more years until we get to mass adoption?
Another shrug. Another unknown. We see the forward motion every day on CoinDesk – the various small changes that add up to a story of a platform. (Or is it a movement?)
This points to the primary problem that bitcoin and the wider crypto ecosystem has to accept. Facebook and Twitter achieved those numbers through investments far smaller than bitcoin’s $165 billionmarket cap. Linux and FOSS endeared themselves to developers enough that they happily contributed their time freely. The web grows by itself because it is trivial to join the party.
Bitcoin exhibits few of those traits. Bitcoin startup investment is cold. The crypto ecosystem is insular and self-involved, difficult for outsiders to join. The network grows by fits and starts, driven primarily by Number Go Up. We are in a vibrant early stage in which everyone is a pioneer and there is no clear way forward. Infighting turns developer against developer while crypto clowns hog the mainstream media’s attention. Only a small, dedicated group holds the center together.
This is bad for bitcoin.
By all rights, bitcoin shouldn’t survive another ten years. All the things that made Linux and Twitter and Facebook and the PS4 and Netflix commercial successes cannot be seen in bitcoin’s rise. You can’t spin up anAI that can write Harry Potter novelson bitcoin.
Bitcoin doesn’t move the world’s financial markets the way Twitter does nor does it get the same scrutiny that Facebook does. There is no “bitcoin and chill.”
Yet it still exists.
You will argue that it’s unfair to compare bitcoin to all of those things. But bitcoin is both a financial instrument and a technical product. It is, like a startup, a work in progress, an alpha product that may graduate to beta with a little more time. It is a good idea that needs another summer or two to germinate.
When I first looked at Spotify, 13 years ago, I saw the future of streaming music that freed me from CDs. When I stuck a copy of Mandrake Linux into my Pentium computer in 1998 I saw a future of machines freed from paid software. When I look at bitcoin through the eyes of an uninterested programmer I see numbers and hype and scams. But when I look at bitcoin through the eyes of someone who wants to catch the next big thing, I see the possibility that one day, not too far in the future, it will make banking and commerce vastly different.
All of the other services and tools I mentioned above are reaching their apex. It’s all downhill from here. Bitcoin, to quote the Joker, is just getting warmed up.
Bitcoin is a slow burn, one that will take another five or ten years to really explode. And when it does it won’t be visible like Facebook or Netflix. It won’t be one level removed from our browsers, hiding just out of sight, like Linux. It will be ingrained in our lives, in the interaction between our money and the world. It will be the currency used between humans and robots and between robots and robots. It will become so useful that it will disappear.
Bitcoin is 11. Where is it going? When will it win?
Shrug. We don’t know. But, compared with everything that came before it, there is little out there to stop bitcoin and a lot of energy driving it forward. It’s only a matter of time.
Bitcoin 2014 image via CoinDesk archives
• Bitcoin May See November Price Boost With Halving Due in Six Months
• Bitcoin Dissident Sees Dark Warnings in China’s Blockchain Push || Charities Put a Bitcoin Twist on Giving Tuesday: Don’t just Hodl bitcoin this year, donate it.
Charities are leaning into the blockchain space this year with #BitcoinTuesday, a sideways take on the philanthropy movement following Thanksgiving, Black Friday and Cybermonday (Dec 3).
Drawing inspiration from one crypto’s more heartwarming stories, thePineapple Fund– wherein a pseudonymous bitcoiner donated some $55 million towards 60 charities during the 2017 bull market – options for crypto-based donations abound.
Related:Bitcoin Is Looking at a Short-Term Bull Reversal if Prices Pass $7,400
“The fact that there were talking about an open-source distributed, user-created project that doesn’t have central ownership seems like a perfect product market matc†h,” said Woodrow Rosenbaum, GivingTuesday’s Data & Insights Lead in a phone.
Launched in 2012 by 92nd Street Y and the United Nations Foundation, GivingTuesday received early attention from Mashable, Facebook and Microsoft and raised some $400 million in the U.S. last year, according to theGivingTuesdayfoundation.
The Giving Block, a for profit firm founded in 2018, is spearheading this year’s rendition of crypto Giving Tuesday with#BitcoinTuesday.
Rounding up support from Gemini and Brave Browser, among others, the technology company is orchestrating aid for nonprofits such as No Kid Hungry, the Tor Project and Pencils of Promise.
Related:Keep Calm and HODL On? 3 Reasons to Look Past Bitcoin’s Price Rout
The D.C.-based group is leaning on crypto’s favorable tax status. As with stock donations, donors need pay no capital gains on what they give.
“In times of crisis, to reach those lofty ambitions, we need to be friendly not only to traditional financing mechanisms, but to the crypto community who’s been very innovative,” said Ettore Rossetti, global digital lead ofSave the Childrenin a phone interview.
Founded in 1919, Save the Children has accepted crypto donations since 2013. “We feel like children will win if we can unlock new forms of funding,” he said.
You can also give throughBitGive, one of the oldest crypto-specific non-profits in the field.
Founded in 2013, BitGive uses bitcoin’s blockchain and works with smart contract provider RSK. ItsGiveTrackproject follows donated money, showing who it benefits. The charity collects less than one percent in fees for processing transactions, according to its website.
“It’s a way to be transparent,” said BitGive founder Connie Gallipi in a phone interview. “It says this project was created on this day in this time, this NGO was added on this day in this time and we checked the bitcoin rate on this day at this time,” she said.
BitGive currently sponsors personally vetted NGOs across the globe, including three projects in Venezuela focusing on orphanages, hospitals, and abandoned animals.
CryptoGivingTuesday, a community coalition spun out of the GivingTuesday organization, is another destination for donations.
Through its service, donations can be made in multiple cryptos to NGOs and non-profits including bitcoin (BTC), ether (ETH), litecoin (LTC), dash (DASH), the lightning network, binance coin (BNB), bitcoin cash (BCH) and XRP.
GivingTuesday takes a decentralized approach to its campaigns. Communities often adopt GivingTuesday’s branding to promote a campaign in their niche, Rosenbaum said.
“Some of these big payment processor platforms like Facebook and PayPal use GivingTuesday as a great way for them to engage [with their audience],” he said. “So we’ll give people best practices. We want to hear how their campaigns went, learn about their results and bring them into that network.”
UPDATE (Nov 27, 16:10 UTC): A prior version of this story said the Giving Block is a nonprofit. It is a technology firm working with nonprofits.
• As Bitcoin Bounces Back Above $7K, Popular Analysts Say Monthly Close Is Pivotal
• Bear Breather? Bitcoin Looks Oversold After 50% Price Drop Since June || How to make a Bitcoin paper wallet: A paper wallet is one of the simplest methods of storing your Bitcoin. However, even though paper wallets are safer than leaving your coins on exchanges remember, not your keys, not your coins there are better methods available to safeguard your Bitcoin. In this article, I will discuss what paper wallets are, how they work and where you can create one, the pros and cons of paper wallets, and other methods to store your cryptocurrency. Bitcoin paper wallets Resultado de imagem para bitcoin paper wallet A Bitcoin paper wallet is essentially a single private key and Bitcoin address, usually generated by a website, printed onto paper. However, as you might have guessed, this method can be unsafe as it is not recommended to reuse Bitcoin addresses. If you use paper wallets, you would have to keep printing new sheets of paper after each transaction. Deterministic wallets and seed phrases, which I will expand upon below, partly avoid the use of websites for key generation. This provides added security as the website you use to generate your paper wallet could be corrupted or fake. These solutions provide better mechanics to store, receive, and send BTC without the need for third-party solutions like external websites. A paper wallet, which was a common method to store Bitcoin during the early days, can have other faults as well. They have proven to be error-prone, since users can lose BTC if the private key is imported to a hardware wallet, and paper can be easily destroyed or lost if not carefully protected. Bitcoin clients and hardware wallets Better and safer methods to store cryptocurrencies such as Bitcoin include full nodes, light clients, and hardware wallets. Each solution has its pros and cons, as explained in more detail here, but I will mainly focus on how they work in this article. Full nodes, as I discuss here, are the key driver for security. Nodes secure your Bitcoin. Validating and broadcasting your own transactions is not only safe for you, but by running a full node, youre actively participating in consensus and helping the entire Bitcoin network to remain secure. Story continues Light clients do not offer the same level of protection as a full node because transactions are validated by the network. However, they are a great solution if you like to store your Bitcoin on your laptop, for example. With this method, you keep the seed phrases and you run a local copy of the Bitcoin protocol on your device, storing block headers for validation. A useful feature of Electrum, for example, is the ability to do Simple Payment Verification (SPV). SPV allows a lightweight client to verify that a transaction is included in the Bitcoin blockchain, without downloading the entire blockchain. Finally, hardware wallets like Trezor or Ledger allow you to keep your cryptocurrency safely stored away from the internet. A great deal of crypto-enthusiasts use hardware wallets as a preferred method of securing Bitcoin since they allow you to plug-and-play whenever you want to access your account, without the need to store information locally. In addition, these hardware wallets are usually small and easy to use. The post How to make a Bitcoin paper wallet appeared first on Coin Rivet .
[Random Sample of Social Media Buzz (last 60 days)]
@SmileyGnome In 5 years. When a dem potus is elected, the U.S. dollar will become worth almost nothing, in which case money like gold, and incorruptible over to peer currency like bitcoin will be measured against purchasing power of goods and services || @wiz @UDIWERTHEIMER @DraconianRang @justinsuntron I’m gonna teach you how to grow earn $3750 worth of bitcoin daily inside your wallet without you sending money to anyone. Inbox for info || $TNT. Push! Keep on rising! $BTC market on #Binance. Current Price: Ƀ 0.00000862 Sharing = Pushing! || Last hourly biggest #BITCOIN blockchain transaction :
207 #BTC (1,895,119 USD) from unknow wallet to unknow wallet
Detail: https://t.co/Cw7DgmZp4b
Date : 2019-11-03 12:22:39 (GMT +0) || Regulatory Clarity My @$$ ..
It's a Liquiqity Crisis they fear.
Money is living South African Bank Accounts & going into Crypto.
#H-ODL @XRP_community @Bitcoin
https://t.co/h3XboHTkyG || @pilogram94 cái dàng btc hãm lắm chị ơiii 🙄🙄🙄 || @TuurDemeester 2019 BTC double tap || 📈Pump Alert! - UTU/USDT on Okex! Price increase: 16.12% | Volume: +15.09% - $UTU $USDT #okex #crypto #bitcoin #cryptoalerts #cointrendz || Satoshi Nakamoto y la descentralización del poder monetario en el mundo. || https://t.co/BGdeT7b80g
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Trend: up || Prices: 7193.60, 7200.17, 6985.47, 7344.88, 7410.66, 7411.32, 7769.22, 8163.69, 8079.86, 7879.07
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
7 Best Stocks to Buy Under $7: While banking on the most established investments likely makes the most sense, for those that want to dial up their risk-reward profile, the following best stocks to buy under $7 offer plenty of intrigue. Generally, lower-priced securities tend to psychologically appeal to the masses, thereby possibly generating wider interest. Of course, you don’t want to just acquire investments based on their share price. Therefore, I took advantage of Gurufocus.com’s screener , extracting out some of the most compelling and relatively underappreciated names in the equities market. While they may be “cheap,” these best stocks to buy under $7 offer much potential for smart bargain hunters. VMD Viemed Healthcare $9.09 CRWS Crown Crafts $5.92 WIT Wipro Ltd. $5.05 SPRS Surge Components $3.20 BTG B2Gold $3.58 ABEV Ambev $2.99 APT Alpha Pro Tech $4.14 InvestorPlace - Stock Market News, Stock Advice & Trading Tips Viemed Healthcare (VMD) Healthcare professional in green scrubs standing with arms crossed. Source: Shutterstock Based in Louisiana, Viemed Healthcare (NASDAQ: VMD ) specializes in in-home therapy. Specifically, the company bills itself as one of the leaders in home-based respiratory care and disease management. Currently, Viemed carries a market capitalization of $255.8 million. As of the close of the Nov. 10 session, the market prices VMD at $6.82 a share. On a year-to-date basis, VMD represents one of the quiet winners, gaining a contextually blistering 25.4%. In contrast, the benchmark S&P 500 is down 17.5% during the same period. Fundamentally, Viemed may benefit from demographic realities. According to the Pew Research Center, the pace of baby boomers’ retiring accelerated during the post-pandemic new normal. Logically, this dynamic might expand the total addressable market for in-home therapy specialists. Financially, Viemed should attract attention among contrarians for its strong balance sheet . Most notably, the company’s Altman Z-Score is 8.7, reflecting a very low risk of bankruptcy over the next two years. Therefore, it’s well worth considering for the best stocks to buy under $7. Crown Crafts (CRWS) A photograph of a child reaching for a toy truck on a shelf in a store. Source: Nomad_Soul / Shutterstock.com Also operating out of Louisiana, Crown Crafts (NASDAQ: CRWS ) designs, markets and distributes infant, toddler, and juvenile consumer products. Presently, the company commands a market cap of $59.6 million, making it one of the smaller ideas among the best stocks to buy under $7. Since the Nov. 10 close, CRWS featured a per-share price tag of $5.79. From the Jan. opener, CRWS gave up nearly 21% of equity value. However, nearer-term data indicates that the volatility may be slowing, with shares almost at parity over the trailing-month period. Fundamentally, Crown Crafts may benefit from the work-from-home pivot as households can transfer the savings associated with not commuting to the office to various consumer products. Story continues To be fair, the aforementioned narrative may be on a short lifecycle if employers recall their workers. In the meantime, investors can bank on the company’s solid financials, including balance sheet stability and strong profit margins. Also, CRWS is undervalued , priced at 6.8 times trailing-12-month earnings, below the industry median of 14.8 times. Thus, it’s worth considering for best stocks to buy under $7. Wipro (WIT) lightbulb surrounded by business icons representing innovation and technology Source: PopTika / Shutterstock.com An Indian multinational corporation, Wipro (NYSE: WIT ) provides information technology, consulting, and business process services. Per its public profile , the company’s capabilities cover cloud computing, cyber security, digital transformation, artificial intelligence, robotics, data analytics, and other technology consulting services. Currently, Wipro features a market cap of $27.6billion. Since the start of this year, WIT dropped 49% of its equity value, perhaps attracting the more extreme contrarian. Over the trailing five days, shares moved up over 7%, possibly reflecting burgeoning upside momentum. At the time of writing, WIT trades hands for $4.97. Fundamentally, Wipro entices because of its exposure to India’s tech market. Notably, India’s IT market contributes a little over 9% to its national GDP . Financially, Wipro delivers the goods in myriad ways. Perhaps most conspicuously, the company features excellent profitability metrics , ranking among the sector’s elite. As well, WIT’s undervalued, priced at 18.7-times trailing earnings compared to the industry’s median of 24.9 times. Thus, it’s worth additional investigation regarding the best stocks to buy under $7. Surge Components (SPRS) semiconductor stocks Close-up electronic circuit board. technology style concept. representing semiconductor stocks Source: Shutterstock Headquartered in Deer Park, New York, Surge Components (OTCMKTS: SPRS ) is a world-class supplier of capacitors and discrete semiconductors. Per its website , the company’s current product portfolio includes aluminum electrolytic capacitors, film capacitors, MLCC [multilayer ceramic capacitors], discrete semiconductors, and switches. Currently, Surge Components features a market cap of $17.7million. To be fair, Surge presents risks based on its nano-cap profile. Also, the company’s stock trades over the counter, which may present liquidity concerns among other administrative challenges. At the time of writing, SPRS trades hands at $3.17. Shares slipped almost 17% YTD. Despite obvious obstacles, SPRS could make a case for the best stocks to buy under $7 due to its infrastructural relevance. Thanks to the Biden administration’s various initiatives to boost American infrastructure and technology, Surge may enjoy a demand upswing. Financially, one of Surge’s strong points centers on its balance sheet . Its cash-to-debt ratio stands at nearly 5 times, much higher than the industry median of 1.3 times. Therefore, astute investors should consider SPRS as a candidate for best stocks to buy under $7. B2Gold (BTG) An image of multiple gold bars Source: Shutterstock Headquartered in Vancouver, British Columbia, B2Gold (NYSEAMERICAN: BTG ) is a Canadian mining company that owns and operates gold mines in Mali, Namibia and the Philippines. Shares trade hands for $3.53 a pop. Currently, the company’s market cap stands at 5.08 billion CAD (roughly translating to $3.82 billion). Since the start of this year, BTG dropped 8% of equity value, a rather “positive” development. Throughout this year, the Federal Reserve expressed deep concerns about skyrocketing inflation. Therefore, by making good on its promise to spike the benchmark interest rate, this ecosystem doesn’t exactly favor commodities. However, the recent lighter-than-expected inflation data suggests that at some point, the Fed will start easing up on its tightening. This should significantly boost BTG and other precious metals-related best stocks to buy under $7. Financially, B2Gold benefits from excellent profitability margins , among other attributes. For instance, its net margin stands at 13.7%, beating out 72.5% of the competition. As well, it enjoys a stable balance sheet, making it one of the best stocks to buy under $7. Ambev (ABEV) A photo of a person pouring a beer from a tap. Source: Master1305/ShutterStock.com A Brazilian brewing company, Ambev (NYSE: ABEV ) translates to “ Beverage Company of the Americas. ” Per its public profile , Ambev was created with the merger of two breweries, Brahma and Antarctica. Currently, Ambev commands a market cap of nearly $47 billion. At the moment, the market prices ABEV at $2.93 a share. Since the start of the year, ABEV gained almost 8% of equity value. Fundamentally, Ambev may benefit from its potentially economically resilient business. According to TipRanks, “during a recession, consumers are likely to increase alcohol consumption at home , while companies in the space retain fantastic pricing power during such periods.” As well, it’s possible that economic hardships can spark increases in imbibing, if only to take the edge off. Financially, data from Gurufocus.com reveals that Ambev enjoys a stable balance sheet . Primarily, the company features a cash-to-debt ratio of 5.6 times, beating out nearly 72% of the competition. Also, its Altman Z-Score is 4.17, reflecting low bankruptcy risk. Therefore, if you don’t mind some controversy, ABEV ranks among the best stocks to buy under $7. Alpha Pro Tech (APT) A magnifying glass zooms in on the Alpha Pro Tech (APT) website. Source: Pavel Kapysh / Shutterstock.com Based in Canada, Alpha Pro Tech (NYSEAMERICAN: APT ) manufactures a line of weatherization products to work in conjunction with each other. Because of the coronavirus pandemic, Alpha Pro Tech also generated earlier popularity for its masks and face shields. As of this writing, the company commands a market cap of $51.75 million. The market prices APT at $4.09 a share. Since the beginning of the year, APT dropped 32.5% of equity value. In the near term, it’s picking up slight momentum, with shares gaining over 1% in the trailing month. Of course, that’s nothing to write home about. While relevant during the worst of the Covid-19 crisis, Alpha Pro suffers from a relevancy cloud. That said, Covid still poses challenges for the healthcare infrastructure. Therefore, APT might see demand increases from institutions or the immunocompromised. Even if you don’t like the fundamental narrative, the financial framework provides some talking points. For instance, Alpha Pro features profit margins that rank among the upper half of the underlying industry. Also, it features a stable balance sheet with a strong cash position relative to its debt. On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines . A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare. More From InvestorPlace Buy This $5 Stock BEFORE This Apple Project Goes Live The Best $1 Investment You Can Make Today Early Bitcoin Millionaire Reveals His Next Big Crypto Trade “On Air” It doesn’t matter if you have $500 or $5 million. Do this now. The post 7 Best Stocks to Buy Under $7 appeared first on InvestorPlace . View comments || Federal Reserve Hikes Rates as Expected, Will Watch 'Lags' in Monetary Policy; Bitcoin Rises: The U.S. Federal Reserve on Wednesday raised interest rates by 75 basis points (0.75 percentage point) to a range of 3.75% to 4 % in a move that was widely anticipated by market participants, including bitcoin (BTC) traders.
It's the fourth consecutive rate hike of that magnitude by the Fed, which has aggressively been moving to jack up borrowing costs to cool the economy and in turn help bring down the highest inflation rate in four decades. Consumer prices have been rising at a pace of 8% on a 12-month basis, more than four times the Fed's target.
“Ongoing increases in the target range will be appropriate in order to attain a stance of monetary policy that is sufficiently restrictive to return inflation to 2% over time,“ according to astatementfrom the Fed's monetary-policy panel, known as the Federal Open Market Committee (FOMC).
Crypto traders watch the Fed because the price of bitcoin often tracks U.S. stocks; the theory is that tighter monetary policy makes risky assets less attractive.
Bitcoin rose 1.3% in the moments after the announcement by the FOMC.
Further clues about the path ahead could come from Fed Chair Jerome Powell’s press conference at 2:30 p.m. ET.
“Inflation continues to be sticky and high so rate hikes will continue, but the pace of hiking is set to slow,” said Nick Hotz, vice president of research at Arca. “Any sign of the Fed easing up would be taken as very bullish short-term for digital assets.”
Recent comments by central bankers suggest that this month's rate hike could be the last at an increment of 75 basis points – three times as fast as the typical increment in prior economic cycles.
San Francisco Federal Reserve President Mary Daly, for example, warned last month that the Fed could push the economy into an “unforced downturn” if it raised rates too fast.
The FOMC's statement suggested that the officials will keep a close eye on how the economy and inflation are responding to the recent series of rate hikes.
"In determining the pace of future increases in the target range, the Committee will take into account the cumulative tightening of monetary policy, the lags with which monetary policy affects economic activity and inflation, and economic and financial developments," according to the FOMC statement.
Even though inflation in the U.S. has slowed from a year ago in recent months, it is still rising on a monthly basis, adding pressure on the Fed to not back down from tightening monetary policy.
Officials are also still trying to avoid an ugly recession and ease the pain of investors who have been grappling with a volatile U.S. Treasury market and falling stock prices.
Crypto assets have also seen a big drop in price ever since inflation started reaching painful levels earlier this year.
With inflation still running at 8.1% it might be too soon for central bankers to reverse course, given that the goal is 2%.
It could also be dangerous, because it could weaken the U.S. dollar against other currencies.The strength of the dollar is part of the reason why the U.S. economy is seeing much lower inflation than other countries, such as those in the European Union.
At a press conference following the announcement, Powell gave several hints that the Fed is considering slowing the pace of rate hikes in the near future.
"At some point it will become appropriate to slow … and it may come as soon as the next meeting, or the one after that,” he said. "It is likely we'll have a discussion about this at the next meeting."
While slowing is a possibility, pausing isn't at this point, Powell reiterated. He stressed that he doesn't think that the Fed has overtightened and that it is “very premature” to discuss pausing and "not a conversation to be had."
The chair did, however, say that "how high to raise rates is more important than the pace of tightening."
UPDATE (Nov. 2 18:11 UTC): Adds quotes from FOMC statement and further information on inflation.
UPDATE (Nov. 2 19:31 UTC): Adds quotes from Chair Powell's press conference. || Binance Wants to Use Crypto to Solve Elon Musk's Supposed Bot Problem: Binance founder and CEO Chinese-born Canadian Changpeng Zhao. Newly minted Twitter owner Elon Musk isnt letting up on his migraine-inducing grievances about bots consuming his Twitter feed. Now, less than one day into his ownership , hes reportedly decided to offload part of that pesky problem to one of the biggest names in crypto. Binance, the massive crypto exchange that reportedly invested $500 million towards Musks Twitter takeover, says it will work with the social media company to explore how crypto and blockchain technologies could be used to reduce bot prevalence online. Read more Go Funko Yourself This Halloween Remembering <em>Enterprise</em>: The Test Shuttle That Never Flew to Space Apple's 12 Most Embarrassing Product Failures Binance explained its early plans to work with Twitter in a statement sent to crypto publication Decrypt. The company said its creating an internal team to, focus on ways that blockchain and crypto could be helpful to Twitter and [is] actively brainstorming plans and strategies that could help Elon Musk realize his vision. The spokesperson hypothesized Binance could potentially build on-the-chain solutions to address the proliferation of bots. Binance is apparently in the early stages and still trying to figure out a plan, which could mean they have the inklings of any idea or could really mean absolutely nothing at all. Binance did not immediately respond to Gizmodos request for comment. The Binance partnership extends Musks months-long complaint over bots on the platform, which he attempted to use as an excuse to back out of the $44 billion deal to purchase the company. After initially agreeing to the deal, Musk got cold feet and tried to claim Twitter hadnt actually provided enough details regarding the actual number of bots on the platform compared to real people. He claimed the prevalence of bots, which has been widely known by just about anyone using the platform for years, amounted to a clear material breach of the merger agreement. Twitter caved and gave Musk unprecedented amounts of user data to verify the bot figures for himself, and then presented him with even more data but obviously none of that was enough. Story continues Twitter eventually sued Musk for trying to bail on his legally binding deal with them. Things only got worse for Musk after that. During their trial with Musk, Twitters lawyers submitted legal fillings deriding Musks claims about the bots, factually inaccurate, legally insufficient, and commercially irrelevant. Musk invents representations Twitter never made and then tries to wield, selectively, the extensive confidential data Twitter provided him to conjure a breach of those purported representations, Twitters lawyers wrote. Yet Musk simultaneously and incoherently asserts that Twitter breached the merger agreement by stonewalling his information requests, the social media company continued. Now Musks left owning a struggling social media company that we dont know whether he actually wanted in the first place. Bots and all. Though Twitters certainly not a crypto company by any measure of the word, its not totally removed from the concept either. In 2019, under former CEO Jack Dorseys leadership, the company began work on Bluesky , a so-called decentralized social media platform that, in theory, would allow multiple social media platforms to operate on the same standard. Dorsey, who was officially kicked out of Twitter earlier this year, joined Blueskys board of directors back in February. Last year Twitter officially created an internal crypto team which was tasked with exploring Bitcoin tips, opportunities for monetization through NFTs, and other areas. Twitter also recently let paid subscribers add NFTs as their profile photos. More from Gizmodo The Best Shortcuts On Mac: Snap Windows, Text to Speech, and More How to Delete Your Twitter Account If Elon Musk Was Your Last Straw Sign up for Gizmodo's Newsletter. For the latest news, Facebook , Twitter and Instagram . Click here to read the full article. || FuboTV (FUBO) Stock Is Heating Up on 2 Huge Catalysts: FuboTV(NASDAQ:FUBO) stock is up 20% since trading started Oct. 17, after itabandoned plansto get into the sports betting business. The sports-oriented streaming service also announced preliminary results for the September quarter thatbeat previous guidance.
FuboTV now expects North American revenue of $210 million for the September quarter, up 34% from last year. The North American subscriber count is now 1.22 million, it said, up 27%. FuboTV also owns a French service, Molotov, which expects third quarter revenue of $5.5 million from 350,000 subscribers.
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Fubo’s recent action is scant comfort to those who bought when the stock was at $15 in January. Its market cap is now $844 million, below expected 2022 revenue. The problem, like all of 2022’s fallen angels, is losses of more than$250 millionin the first half of the year.
The losses have our Louis Navellier telling investors tostay away. The company burned through about $220 million of cash in the first half, but still reported $373 million of it in June thanks to stock sales. The sports betting business, with its high customer acquisition costs and advertising expense, was a particular problem.
Cutting off that business cuts the cash burn and could make FuboTV an attractive purchase for a gambling company likeCaesars Entertainment(NASDAQ:CZR) orPenn Entertainment(NASDAQ:PENN). But it also hurts the company’s whole investment thesis.
It also fails to solve the problem of sports rights. FuboTV couldn’t come to an agreement with regional sports networks (RSNs) owned bySinclair Broadcast Group(NASDAQ:SBGI), which finally launchedits own streaming service. Now sports rights are going topure streamerslikeApple(NASDAQ:AAPL) that don’t need FuboTV to reach customers.
I wasamong those taken inby FuboTV’s promises. I recantedearly this year, but have still taken big losses on my own account.
Based on the latest news, it’s time to cut those losses in FUBO stock.
On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand thatInvestorPlace.com’s writers disclose this fact and warn readers of the risks.
Read More:Penny Stocks — How to Profit Without Getting Scammed
On the date of publication, Dana Blankenhorn held long positions in FUBO and AAPL. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines.
Dana Blankenhornhas been a financial and technology journalist since 1978. He is the author ofTechnology’s Big Bang: Yesterday, Today and Tomorrow with Moore’s Law, available at the Amazon Kindle store. Write him at [email protected], tweet him at@danablankenhorn, or subscribe to hisSubstack.
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The postFuboTV (FUBO) Stock Is Heating Up on 2 Huge Catalystsappeared first onInvestorPlace. || Sam Bankman-Fried’s Unceremonious Exit Leaves ‘Alameda Gap’ in Crypto Markets: Call it the “Alameda gap.”
Last week’s collapse ofSam Bankman-Fried’s trading firm, Alameda Research, has left such a big hole in cryptocurrency markets that trading liquidity has thinned noticeably, according to a new report from Kaiko.
The drop in liquidity over the past week is far larger than in any previous market drawdown, and it could be “here to stay” in the short term, according to Kaiko – especially since other trading firms including Amber Group and Genesis Trading have reportedfunds being trapped on FTX.
Since Nov. 5, bitcoin liquidity within 2% of the mid-price has fallen from 11,800 BTC to 7,000 BTC, the lowest since early June, according to Kaiko, which analyzed data from 18 crypto exchanges.
Kraken’s bitcoin (BTC) market depth has fallen by 57%, Bitstamp’s by 32%, Binance’s by 25%, and Coinbase’s by 18%, according to the report.
Kaiko said ether (ETH) markets were also affected by the collapse, with 2% market depth, falling to late May levels.
BTC’s price fell more than 21% in the past seven days, trading around $16,200 as of Monday midday, while ETH was down 23% over the past week to $1,210.
Altcoins get hurt more
Kaiko said liquidity in altcoins might be “more concerning,” especially those that were significant holdings of Alameda, such as Solana’sSOL.
SOL’s total market depth has fallen 50% from 1 million SOL to under 500,000 SOL aggregated across all order books, according to Kaiko: “This drop was felt on every single exchange.”
Solan'sSRMand MAPS tokens have also seen a plunge in depth, the report noted.
Solana’s SOL token dropped as low as $12.08 in the past 24 hours, hitting its lowest level in over 20 months, before settling back to about $13 Monday. SRM was one of the biggest losers in theCoinDesk Market Index(CMI) as its price fell 22% in the past 24 hours to $0.16.
“Alameda held a huge amount of illiquid tokens while (almost certainly) being a market maker for these same tokens, which put the firm in a nearly impossible position when faced with insolvency,” the report added.
Joe DiPasquale, CEO of BitBull Capital, said that market liquidity levels may stay under pressure until the Federal Reserve tempers its campaign to tighten monetary conditions.
“Even though the sentiment has been dented overall, the market will eventually recover, especially as macro contributors, like the Fed easing up on interest hikes, become dominant,” he said. “We expect the liquidity to remain relatively dry until the market begins to pick up and market confidence is restored.” || 3 EV Stocks to Buy to Tap Into a Hidden Bull Market: EV stocks have been on the rise in recent years, as more and more people are turning away from gas guzzling vehicles to save money and help the environment. However, this sector has been beaten up this year as bearishness takes hold of the markets. Hence, investors may have a difficult time deciphering which companies present the best EV stocks to buy in this environment.
Between China’s zero-Covid policy, rising interest rates, and supply chain issues, EV bulls have had little time to rejoice. The result is that top companies in this sector are now trading at big discounts. Accordingly, several quality players now look attractive to the value investor looking to add a few gems to the portfolio.
When it comes to top EV stocks to buy, there are a few things to be aware of before investing. First and foremost, it’s important to analyze a given company’s financial stability and recent performance. This provides a good idea of how the stock will likely perform in the future. Next, assessing the company’s EV production plans is important. Is the company investing in new technologies? Are they planning to ramp up production in the coming years? Finally, the overall EV market provides unique catalysts and headwinds. Are sales increasing or slowing down?
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Undoubtedly, it isn’t easy to choose which stocks are the best stocks to buy, when so many factors exist. It depends on one’s goals, risk tolerance, and investing timeline.
When making this list of the best EV stocks to buy, I’ve focused on three companies with strong fundamentals that have lost at least 25% of their value this year.
[{"NIO": "F", "Nio": "Ford", "$17.73": "$11.99"}, {"NIO": "RIVN", "Nio": "Rivian", "$17.73": "$33.79"}]
Source: Michael Vi / Shutterstock.com
For those looking for EV stocks to buy, there are few options as enticing asNio(NYSE:NIO). The company has a very good relationship with the Chinese government, and is looking for another big European opportunity.
The Chinese electric-car startup will conductits European launch eventin Berlin on Oct. 7. This is the company’s attempt to explore new opportunities in Europe. Nio is exploring the possibility of opening battery swapping stations in five European countries to expand their car sales. Among these countries are Germany, Holland, Sweden, and Denmark.
To compete with gas-powered cars, Nio offers an integrated EV that will be more affordable for European buyers. The company plans to remove the battery as their most expensive component and keep it separate from ownership, which should help lower upfront costs. Nio is also looking to partner with a European asset management company to give its consumers on the continent easier access to finance for leasing.
Nevertheless, despite these positive developments, Nio is down substantially this year. Part of the reason is the company’s increasing losses.
Nio posted revenue growth in the second quarter, up 22% year on year, while itsnet loss quadrupledto around $409.8 million. China’s strict “zero-Covid” policies are leading to supply chain issues. Nio also fell victim to this policy, leading to “cost volatilities” that affected the bottom line.
That said, Nio has the ability to withstand these issues and emerge stronger than ever. The company’sstrong relationshipwith the local government of Hefei in China’s central Anhui province provides long-term stability for this China-based manufacturer. Nio is unique, which is why it is one of the best EV stocks.
Source: Ford
Ford(NYSE:F) fell the most since 2011 after the company recently reported preliminary earnings. According to the company, the iconic American automaker will report adjusted earnings from$1.4 billion to $1.7 billion. This reduced range is expected to be a result of supply chain issues which could increase the company’s costs by approximately $1 billion. For investors looking for more insight into the matter, the company will report earnings on Oct. 6.
Like many other companies, Ford faces challenges in the current economy. In short- to medium-term, the outlook for the company remains stressed. However, Ford has looked to growth in the electric vehicle segment as a way to stem this bearish macro tide. Fordwill invest $50 billionin electric vehicles by 2026,with 40% of its salesbeing electric by the end of the decade. I think this is a smart move that will position Ford well for the future.
Just recently, Fordannounced the company has broken groundon a brand-new assembly line factory, the first such instance in 53 years. The electric-vehicle manufacturing factory will cost the company $5.6 billion. However, this facility will provide Ford and Lincoln models with the batteries to use. In addition, Kentucky will be the site for two new factories to be completed at a later date.
As time passes, Ford will need to keep adding to its product line to stay competitive. The latest Ford factories will provide a big lift in this regard. The new factories will allow Ford to produce electric vehicles more efficiently and at a lower cost. With only three EV models in its portfolio, Ford still has a long way to go to realize its EV ambitions. That said, investors stand to reap the benefits along this journey.
Source: Miro Vrlik Photography / Shutterstock.com
Rivian(NASDAQ:RIVN) is an American automotive and energy company founded in 2009. It is known for its electric vehicles and has developed a technology platform for battery-electric vehicles. Rivian has received investment fromAmazon(NASDAQ:AMZN), among other companies. Notably, the companyis working withAmazon to develop a new generation of electric delivery vehicles.
Rivian plans to produce several hundred thousand vehicles annually at its factory in Normal, Illinois. In addition, the company is partnering withMercedes Benz(OTCMKTS:MBGYY)to establish a factorynear one of Mercedes-Benz’s existing plants in Europe.
Rivian’s lineup includes the R1T pickup truck, the R1S SUV, and the R1T Adventure Vehicle. Rivian is also working on various new technologies, including autonomous driving and connected car services.
So far, 98,000 U.S. and Canadian customers havepre-orderedRivian R1s. By all accounts, Rivian has an excellent product that the masses are eager to get their hands on. The company also has a significant amount of cash on its books, with$15.5 billion in cashand equivalents as of June 30. This is expected to last Rivian through 2025, when the company completes its second manufacturing facility. That’s more than enough leg room to navigate any troubled waters, making it one of the better EV stocks to buy.
On the publication date, Faizan Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines.
Faizan Farooque is a contributing author for InvestorPlace.com and numerous other financial sites. Faizan has several years of experience in analyzing the stock market and was a former data journalist at S&P Global Market Intelligence. His passion is to help the average investor make more informed decisions regarding their portfolio.
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The post3 EV Stocks to Buy to Tap Into a Hidden Bull Marketappeared first onInvestorPlace. || EXCLUSIVE: Marathon Digital CEO Fred Thiel Says FTX Bankruptcy 'Has Increased The Fear Factor': The CEO ofBitcoin(CRYPTO:BTC) mining companyMarathon Digital Holdings Inc(NASDAQ:MARA), the world's second-largest holder of Bitcoin among publicly-listed companies, is speaking out aboutthe impact of the FTX fiasco.
In an exclusive interview withBenzinga,Fred Thielwas asked if the FTX bankruptcy may create opportunities in the crypto industry. "If anything has increased the fear factor across the investors in the industry who are, you know, now very concerned about crypto holdings.So it is going to cool some interest in holding crypto," he replied.
"I think anytime a large player in the industry is negatively impacted, it creates fear. So from an opportunity perspective, you know, essentially, FTX was the largest competitor of Binance.Now, that's gone," Thiel noted.
The Marathon Digital CEO acknowledged that some exchanges may be positively impacted by the fallout of the FTX bankruptcy. "If anything, [it] may create opportunities forCoinbase Global Inc(NASDAQ:COIN), Kraken, and Gemini to pick up U.S. institutional trading volume because U.S. investors will not necessarily want to run the risk of trading on Binance," he added.
Last week, Marathon Digitalreportedits third-quarter earnings. During the announcement, Thielsaid that the company added 616 BTC to its holdings in the quarter, with another 615 BTC purchased in October alone. The company currently holds11,300 Bitcoin worth around $205 million.
Thiel said that the company holds a significant number of Bitcoin on its balance sheet and doesn't have notable debt.
"We hold a lot of Bitcoins on our balance sheet, which obviously negatively impacts our balance sheet. The good thing is that we don't have a lot of debt, so we don't have equipment that has been financed," Thiel said.
Talking about the crypto market and Bitcoin's performance, he said, "We mine Bitcoin, and we have not been a seller of Bitcoin. It is painful to see the price of Bitcoin dropping. We have been through these winters before. The good thing is that you are cleaning out and creating a truthful capitulation."
Also Read:This Analyst Believes Bitcoin, Ethereum Will Surge To All-Time High Soon: Here's Why
When asked about the Bitcoin price and if it is profitable to mine, Thiel said, "It very much depends on each miner's circumstances. You know, Bermuda and Luxor both published data that shows their estimates for each miner and their breaking point. So I would refer you to those documents. For example, Core Scientific is unprofitable in their Bitcoin mining. That is one of the reasons why they are in their liquidity frenzy. Other players like Argomight be in trouble as well," Thiel said.
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© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Why SOFI Stock Still Isn’t a Buy: At long last, after taking a beating all year longSoFi Technologies(NASDAQ:SOFI) stock had a good day. On Nov. 1 share shot higher after SoFi released its third-quarter 2022financial results.
Yet, those gains were quickly coughed up as SOFI stock retreated over the next couple of days. Investors must ask themselves: Why did this happen, and should I be concerned?
The answer to the second question is simple enough: Yes, you should be concerned about SoFi Technologies. One seemingly positive quarterly report doesn’t constitute a trend or even a pattern. Besides, SoFi’s results weren’t perfect, by any means.
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Along with all of that, investors can’t afford to ignore what the U.S. Federal Reserve is doing. Sorry to be the bearer of bad news, but holding SoFi shares could be tantamount to “fighting the Fed,” which is rarely a wise investment decision.
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Impressively, SOFI stock gapped up on Nov. 1, opening at around $6.31 after closing the previous day near $5.45. This wasn’t a miracle from the heavens, but just the market’s knee-jerk reaction to SoFi Technologies’ Q3 2022 fiscal report.
Analysts hadexpectedSoFi to post an earnings loss of 10 cents per share. The actual result was a loss of 9 cents per share, which isn’t exactly a massive beat. It was a still a beat, though, and apparently Wall Street celebrated with a huge relief rally.
It didn’t take long for that rally to fizzle out, though. By the end of Nov. 1, SOFI stock was already down to $5.72. Fast-forward to 2:00 p.m. Eastern on Nov. 4, and the share price was $5.08, significantly below the pre-earnings level. It’s climbed back a bit since then, but not much.
Again, the earnings beat wasn’t a wide one. Alarmingly, SoFi Technologies incurred a $75.8 million comprehensive loss during 2022’s third quarter. And, the SoFi share price remains far below $15 and change, which is where it started this year.
As SOFI stock gave up its post-earnings gains and then some, Keefe, Bruyette & Woods analyst Michael Perito called it “polarizing.” This is a fair assessment of a love-it-or-hate-it asset that’s prone to bouts of volatility.
Perito assigned a “neutral” rating and a $6 price target on SoFi Technologies shares, but this might actually be too generous. Perito has lingering “questions” pertaining to SoFi’s “loan origination and sale fees, in addition to the lower technology revenue/profit run-rate.”
The analyst also noted the “current macroenvironment,” which will likely present persistent challenges to already-unprofitable SoFi Technologies. By “current macroenvironment,” we can reasonably surmise that Perito is referring to high inflation and rising interest rates.
These macro factors could make it increasingly difficult for SoFi to successfully conduct its lending business.
Uttering the words, “We have aways to go,” Federal Reserve Chairman Jerome Powell clearly signaled that the central bank doesn’t plan to end its rate-hike path anytime soon – and this doesn’t bode well for SoFi Technologies.
SOFI stock gets a “D” rating as investors will, indeed have to “fight the Fed” if they invest in SoFi Technologies. Plus, the company’s quarterly earnings result wasn’t a huge Street beat.
SoFi is still an unprofitable business, and investors shouldn’t ignore that fact. So, while the bulls can cherry-pick positive data points if they want to, it’s still too early to declare victory and load up on SoFi Technologies shares now.
On the date of publication, neither Louis Navellier nor the InvestorPlace Research Staff member primarily responsible for this article held (either directly or indirectly) any positions in the securities mentioned in this article.
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The postWhy SOFI Stock Still Isn’t a Buyappeared first onInvestorPlace. || TD Ameritrade vs. Etrade vs. Fidelity: TD Ameritrade, E*TRADE and Fidelity are three of the toponline investment brokeragestargeting self-directed investors. They are full-service brokers offering a wide range of investment products. Their pricing and fees are competitive and they offer extensive market research and educational material for investors. They also offer retirement accounts. You have to dig deep to discover the type and scope of their differences when comparing TD Ameritrade, E*TRADE and Fidelity. Let’s compare fees, platform features and use.
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TD Ameritrade vs. E*TRADE vs. Fidelity: Overview
TD Ameritrade is a decades-old brokerage. Before and since online trading, TD Ameritrade has had brick-and-mortar offices in more than 175 locations. It’s been around since 1971. They have educational events at their brick-and-mortar branches, as well as virtual events, for investors. They also have large amounts of educational material on their website along with state-of-the-art market research. TD Ameritrade has more than 12 million client accounts and handles some 2.1 million trades per day. It is a full-service brokerage with a complete line of investment products and services.
E*TRADE, also a full-service brokerage, was established in 1982. It also allows you to trade a comprehensive line of investment productssuch as stocks, bonds,exchange-traded fundsand mutual funds. Even though you can’t trade cryptocurrency on E*TRADE, you can trade futures of two of the major coins. E*TRADE also offers educational material for investors.
Fidelity, established in 1946, is another of the long-established, trusted brokerages and has upwards of 25 million investors. One of the differences in Fidelity is that it offers a wide array of its own products. One product offering distinguishes Fidelity from E*TRADE and TD Ameritrade: It offers investments in international stocks and covers 20 additional stock markets.
TD Ameritrade vs. E*TRADE vs. Fidelity: Fees
Fidelity, TD Ameritrade and E*TRADE all offer $0 stock andETFcommissions. TD Ameritrade offers no minimum deposit to open a brokerage account or anindividual retirement account (IRA). Fidelity requires a minimum investment of $2,500 for a brokerage account and an IRA except if you deposit $200 per month to your IRA.
E*TRADE requires a $500 minimum investment to open a brokerage account and there is no minimum investment for an IRA. TD Ameritrade and E*TRADE require $2,000 to open amargin accountand Fidelity requires $2,500.
TD Ameritrade requires a margin rate of 9.5%, the highest of the three. Fidelity has a margin rate of 8.325% and E*TRADE 8.95%. Both Fidelity and TD Ameritrade charge $49.95 for mutual fund trades and E*TRADE charges $19.95. Please note that fees may change frequently.
Comparing Fees at TD Ameritrade, E*TRADE and Fidelity Trading and Account Fees TD Ameritrade E*TRADE Fidelity Minimum deposit $0 $500 $2,500 Stock and ETF trades $0 $0 $0 Mutual fund trades-no load $49.99 $19.99 $49.99 Options base $0 $0 $0 Options per contract $0.65 $0.65 $0.65 Futures contract $2.25 $1.50 N/A Open margin account $2,000 $2,000 $2,500 Margin rate 9.5% 8.35% 8.95% Bitcoin futures Testing trades in Bitcoin $2.50 per contract N/A IRA – Fee to open account $0 $500 $2,500 IRA – Transfer out partial $0 $0 $0 IRA – Transfer out full $75 $0 $0 Maintenance fee $0 $0 $0 Robo-advisor $5,000 + 0.3% $15 + 0.3% $5,000 + 0.35%TD Ameritrade vs. E*TRADE vs. Fidelity: Platform
E*TRADE has two mobile apps, a browser platform and a desktop program. It has one of the best web-based platforms. New and experienced investors are likely to find whatever they want on E*TRADE’s website, including educational material, market data and the ability to buy, sell and trade most existing financial instruments.
E*TRADE has two mobile apps – E*TRADE and Power E*TRADE . The E*TRADE app includes the learning materials plus the basic trading instruments. Power E*TRADE is more complex and includes advanced features likecharting tools and risk analysis.
ActiveTrader Pro, Fidelity’s platform, is one of the premier online brokerage platforms. It usually appeals to advanced traders. Fidelity does make some stipulations regarding the use of ActiveTrader Pro. A trader has to make 36 trades in a 12-month time period to be eligible to use it. ActiveTrader Pro provides the investor with many options and features. It is especially good for theoptions trader. In some surveys, the platform is ranked above average.
TD Ameritrade has itsThink or Swim platform. It is primarily for advanced traders as it has many features that beginning or retail investors wouldn’t necessarily need. TD Ameritrade’s platform is often ranked No. 1 among trading platforms, although Android users find it is a little glitchy. The Think or Swim platform was developed by traders for traders and is part of TD Ameritrade’s Essential Portfolios androboadvising service. There is a $5,000 minimum deposit for Essential Portfolios along with 0.30% management fee for roboadvising. The company also has a simplified app for less experienced investors.
TD Ameritrade, Fidelity and E*TRADE are all ranked as three of the top five brokerage platforms in 2021. TD Ameritrade is ranked the best overall platform and the best of the three for beginners. Fidelity is ranked as best for everyday investors and E*TRADE is ranked as having the best web-based platform.
TD Ameritrade vs. E*TRADE vs. Fidelity: Uses
When reviewing TD Ameritrade, E*TRADE and Fidelity, we find many similarities in their strengths. These are three of the top brokerages and they are all full-service brokerages. The details about the uses of each brokerage help investors make informed decisions.
• Pricing.All three brokerages have a $0 commission on stocks and ETF trades. A major difference is noted for mutual funds where TD Ameritrade and Fidelity both charge a $49.95 commission for mutual funds. E*TRADE charges $19.95.
• Investing in Mutual Funds.All three brokerages have thousands of mutual funds listed. TD Ameritrade has around 13,000 funds available and 4,200 are no-load and have notransactions fees. E*TRADE and Fidelity have 10,000 each available. E*TRADE has around 4,200 no-load and with no transaction fee, and Fidelity has 3,500 with no-load and no transaction fee. Fidelity has a lot of its own products available.
• Investment Vehicles.All three brokerages are full-service. They offer a comprehensive range of possible investment vehicles except for cryptocurrency. None of them offer cryptocurrency with the exception of TD Ameritrade and E*TRADE offeringBitcoin futures. TD Ameritrade offers almost everything except precious metals and international stocks. The E*TRADE offerings are not quite as broad as the TD Ameritrade offerings. They don’t offer precious metals, foreign stocks andforeign exchange(currencies). Fidelity offers trading in international stocks on foreign exchanges. It also offers various debt instruments like CDs, commercial paper and U.S. Treasurys. It doesn’t offer currencies, futures or options. Fidelity offers a stellar list of IRAs.
• Mobile Trading.TD Ameritrade offers mobile apps that can be used for trading on iPhone, iPad, Apple Watch, Windows 10 and Android. Investors can watch CNBC and Reuters. E*TRADE offers mobile trading on Android tablets and phones, iPhone, iPad, Apple Watch, Amazon Fire Phone, Kindle Fire HD and Windows. If you are an active trader, you can have access to streaming CNBC. At Fidelity, you have access to mobile trading using iPad, iPhone, Apple Watch, Windows Phone and Windows. Live streaming of Bloomberg is included.
• Educational Content.TD Ameritrade has a vast selection of educational content for investors It also boosts a roboadvisor, but it is tied to TD Ameritrade Essential Portfolios. A $5,000 initial deposit is required. Fidelity also has excellent educational material for its investors. E*TRADE may be the lightest on educational support articles, but its selection is still more than adequate.
Bottom Line
If you compare TD Ameritrade, E*TRADE and Fidelity in the online brokerage space, you will find many similarities and some differences. TD Ameritrade has a strong platform, a lot of helpful educational content and a wide variety of vehicles foran investment portfolio. E*TRADE offers excellent pricing and phone and chat support. Fidelity has a strong platform and international investing. Your choice should follow your needs as an investor.
Tips on Investing
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Photo credit: ©iStock.com/Natali_Mis, ©iStock.com/vaeenma, ©iStock.com/grinvalds
The postTD Ameritrade vs. E*TRADE vs. Fidelityappeared first onSmartAsset Blog. || Binance Exchange's BNB Token Leads Broad Crypto Rebound After FTX Bailout Offer: The giant crypto exchange Binance's in-house token, BNB , led a broad rebound in digital-asset markets on Tuesday after CEO Changpeng "CZ" Zhao announced a plan to rescue billionaire Sam Bankman-Fried's rival FTX exchange from the throes of a blockchain-era deposit run. The CoinDesk Market Index , which tracks a basket of 162 digital assets, jumped about 4.8% in a little over an hour. Most cryptocurrencies were plunging earlier in the day as fears spread that FTX might be facing liquidity issues ; data showed that the balance of bitcoin on the FTX exchange had plunged by 99% to literally 1 BTC (worth about $20,000). Crypto markets sharply rebounded after Bankman-Fried, FTX’s CEO, and Zhao – in a Twitter feud over the past few days – tweeted that their firms reached a deal . Read more: FTX, Binance Deal Draws Antitrust Concern BNB jumped 20% after the announcement and was changing hands at $362 as of press time. The token has outperformed the broader crypto market, up 11.5% in the last 24 hours. The CMI is still down 1.9% over the past 24 hours. Bitcoin ( BTC ) surged above $20,000 and was changing hands around $19,766, down 4.5%, but still up from a low around $19,300 earlier in the day. Ether ( ETH ) popped 6% in an hour, recently trading around $1,500. FTX's exchange token , FTT , bounced after the announcement but was still down 34% over the past 24 hours. Solana's SOL , which had tumbled Monday on speculation that Bankman-Fried's trading firm, Alameda Research, might have to dump some of its holdings in a bid to raise liquidity, was still nursing an 18% loss. View comments
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: no change || Prices: 16291.83, 15787.28, 16189.77, 16610.71, 16604.46, 16521.84, 16464.28, 16444.63, 16217.32, 16444.98
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2021-04-05]
BTC Price: 59057.88, BTC RSI: 59.20
Gold Price: 1727.00, Gold RSI: 47.48
Oil Price: 58.65, Oil RSI: 44.79
[Random Sample of News (last 60 days)]
Im Bullish on Crypto, But Not on Marathon Patent Stock: As the price of Bitcoin (CCC: BTC-USD ) continues to climb, so does the price of Marathon Patent (NASDAQ: MARA ) stock. The patent troll-turned-crypto miner has seen its shares soar more than 20-fold since November. But is this sustainable for MARA stock? MARA stock Source: Shutterstock These gains have far outpaced even Bitcoins impressive run during the same period. As I wrote previously, this is understandable . With the costs of cryptocurrency mining largely fixed, a rise in the price of Bitcoin will produce an outsized increase in profits for the miner. Thats assuming Marathon already has a substantial crypto mining operation. However, it doesnt. Take a look at its financial results, and youll see the company has generated just $1.5 million in sales over the past 12 months. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Compare that to Marathon Patents current market capitalization (around $4.2 billion), and its clear things have gotten out of hand. Even with the proceeds of last months $250 million registered direct offering , and the companys Bitcoin mining projections (more below), theres no guarantee itll produce the results needed to justify todays valuation. With this uncertainty in mind, it makes little sense to buy in at todays prices (around $45 per share). MARA Stock: Perception Versus Reality With the surging interest in crypto prices, scores of small companies have looked to exploit the situation. Its similar to what we saw a few years back, during the last Bitcoin boom. Companies with no prior interest in the space suddenly started calling themselves cryptocurrency companies. 7 Overvalued Stocks Investors Just Dont Get Tired Of With stocks trading on major exchanges more accessible than Bitcoin itself, this hoodwinks many investors. And, with many buying on the headlines, instead of on fundamentals, shares in these high-flyers can reach unsustainable levels. Thats what its starting to look like with this situation. Story continues Admittedly, unlike some of the other Bitcoin coattail riders out there, this early stage miner at least has laid out projections that (in theory) could justify its current stock price. As seen from a Feb. 1 press release, Marathon has implied itll soon be highly profitable, once it deploys all of its mining hardware . If it can put all of its machines into operation, the company could produce up to 60 bitcoins per day. At current prices ($50,000 per BTC), that means $3 million per day in revenue. With its operating costs at around $4,500 per Bitcoin mined, that could mean $2.73 million per day in gross profit. On an annual basis, thats near $1 billion in gross profit. To some, numbers like this could help justify the companys current $4 billion valuation. Yet, mining Bitcoin is far from being a set it and forget type of operation. It may sound like all Marathon Patent has to do is plug in its hardware, and wait for the money to roll in. But, theres no such thing as a free lunch. This aspiring miner will have to overcome substantial hurdles if it wants to live up to expectations. Why This Aspiring Miner Could Fall Flat on Its Face Based on the current price of BTC, it could be generating $1 billion per year, once it fully deploys its mining hardware. However, the aforementioned press release makes mining for crypto sound easier than it is in practice. Namely, it downplays the possible negative impact from whats known as the difficulty rate. Whats that? Its a measurement of the computing power it takes to mine a Bitcoin block. Over time, difficulty rates have continued to rise. As of late, this rate of difficulty has slowed down . This may give credence to this companys ambitious projections. Yet, dont expect a slowing difficulty rate to last for long, given new hardware will soon come online. How could this hurt Marathon Patent? If the difficulty rate rises substantially, itll mine far less Bitcoin than previously projected. The stock is priced as if its operations will go off without a hitch. But, if hiccups arise, shares have substantial room to fall. Bull Case Remains for CryptoJust Not for Marathon Patent To be clear, Ive long been, and will continue to be, one of the biggest crypto bulls out there. But, the bull cases for crypto, and this stock, are not one and the same. While on the surface it may seem current trends support higher prices for Marathon Patent, unfortunately thats not the case. On paper it claims it could eventually produce 60 bitcoins per day. After expenses, that would mean nearly $1 billion per year in gross profits. Yet, like I said above, mining for crypto is much more difficult in practice. With a high chance of this aspiring miner falling flat on its face, continue to avoid MARA stock. On the date of publication, Matt McCall held a position in Bitcoin. The InvestorPlace Research Staff member primarily responsible for this article held a position in Bitcoin. Matthew McCall left Wall Street to actually help investors by getting them into the worlds biggest, most revolutionary trends BEFORE anyone else. Click here to see what Matt has up his sleeve now. More From InvestorPlace Why Everyone Is Investing in 5G All WRONG Top Stock Picker Reveals His Next Potential Winner It doesnt matter if you have $500 in savings or $5 million. Do this now. #1 Play to Profit from Biden's Presidency The post Im Bullish on Crypto, But Not on Marathon Patent Stock appeared first on InvestorPlace . || Fundamental Investing Is Alive and Well in Crypto: Following the recent moves in GameStop (GME) and AMC (AMC) stocks, andDOGEandXRPtokens, investors across the globe are rightfully questioningfundamental investment analysis. While cryptocurrencies are often heralded as a gambler’s playground, the irony is that digital assets might be one of the few asset classes left for true fundamental investment analysis.
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.
Ideas are a dime a dozen. What separates good investments from bad investments is how you express those ideas to maximize upside and minimize downside. For example, in 2011-2012, many very smart investors looked for ways to express the same idea: that there was going to be a double-dip recession and inflation was going to be rampant after unprecedented monetary policy interjections (of course, the 2009 stimulus was child’s play compared to the reckless government spending today, but 10 years ago, stimulus was a big deal).
Related:Tesla Invests $1.5B in Bitcoin, Plans to Accept Crypto Payments
What tools did most investors use to express this view?
• Shorting U.S. equities (into a 10-year bull run)
• Shorting Spanish, Italian and Greek government bonds (yields are now at or below 0% after the European Central Bank essentially nationalized these countries’ debts over the past decade)
• Buying gold (which traded straight down and then sideways for seven years before catching a renewed bid post-COVID)
• Moving teams of distressed analysts to Europe to buy European bank debt that should in theory be offered by these distressed banks at pennies on the dollar (this didn’t work, as the banks simply kept this debt at par value on their balance sheet, and never ended up selling)
As you can probably imagine, none of these investments worked, even though the idea was sound. In fact, one of the best investments to take advantage of the monetary policy and recession theme turned out to be buyingbitcoin. Unfortunately for most investors, this instrument wasn’t in their playbook yet.
Most uninformed investors still believe all digital assets are a copycat version of bitcoin and other cryptocurrency, but the reality is today’s digital assets investable universe is very diverse, unique and idiosyncratic. As such, the playbook has expanded, and so have the investable themes that an investor can express. For example, if you wanted to express that theCoinbase initial public offering (IPO)is going to go up 100% upon listing, there are a variety of ways in which you can express that view:
• Buy private Coinbase shares in the secondary market
• Buy shares of similar publicly traded companies (Galaxy, Voyageur, etc.) which should benefit from relative value
• Buy tokens of other exchanges (BNB, FTT, VGX, etc.) which should reprice after the Coinbase S-1 gives details as to how the company generates revenue
• Buy bitcoin orethereumas a market proxy to represent renewed interest in digital assets.
Not all of these investments will necessarily work. But the point is, coming up with the idea itself is less important than finding the best way to express that view.Paul Tudor Jones’ bitcoin investment thesis back in 2Q 2020 is a good example of this thought process, as it wasn’t a bitcoin investment thesis at all. It was an inflation thesis. Bitcoin was just one of four ways Tudor chose to express this view (the others being a) long the Nasdaq 100, b) long gold and c) buying a 2s/10s Treasurysteepener.
Related:Bitcoin Miner Bitfarms to Raise $31M in Sale of Shares to Institutional Investors
Another good example is the recent MicroStrategy (MSTR) convertible bond offering. Given a high cash balance and no other debt in the capital structure, this bond has a very low likelihood of default or impairment. If you bought this convertible note at par, you were effectively being paid 0.75% per year in interest to own a long-dated bitcoin call option. If you were bullish on bitcoin, this was a very cheap and low risk way to express that view.
At Arca, we do fundamental research on the digital assets space. That means, we create an overall top-down view of higher-level theses and macro themes that should create long-term growth, then canvass the universe for investable assets that best express these views and then do a bottoms-up analysis on each individual token, stock or bond to ensure that it will accrue value if we are right.
See also: Jeff Dorman –What This Digital Asset Investment Firm Missed and Capitalized On in 2020
Each investment will have different risk/reward setups, different timeframes to measure success/failure and different total return outcomes. An investment that has just 10% upside but carries only 2% downside may be a better investment from a risk/reward standpoint than an investment that has 1000% upside but also carries 50% of downside risk. The goal is to find the most upside potential per unit of potential downside risk.
While perhaps surprising to many, digital assets offer a variety of ways to structure these investment setups, where fundamental analysis can be used to estimate both downside floors and upside potential. The digital assets ecosystem has evolved into a complex asset class and has become perhaps the perfect asset class for fundamental analysis and low-risk, high-reward investing. In addition to simply finding growth assets, there are now great risk/reward setups that often materialize organically. For example:
If so, there are protocols that are growingvolumesandrevenuesover 100% quarter over quarter, while also spitting off hundreds of millions of dollars of free cash flow. Uniswap (UNI) and Sushiswap (SUSHI) are the clear market leaders in decentralized exchange (DEX) trading, with annualized revenues of over $500 million and $200mm, respectively. While the UNI and SUSHI tokens have uncertain fates in terms of how value from these cash flows will accrue to the tokens, you can still make a strong fundamental argument. For example, the price-to-sales ratio based on forward revenues is under 5x, which is incredibly cheap relative to equity prices of traditional exchanges, which trade on average between 10-20x, and don’t have the same exponential growth potential. It’s not often that you can invest in a blue chip growth asset that is also avalue assetat the same time.
Because that’s exactly what the wrapped nexus mutual (WNXM) token offers. The NXM token is an asset-backed token, backed by the ETH in the capital pool that is used to pay out potential insurance claims. Based on the amount ofETH currently in the capital pool, the net market cap of nexus mutual (in excess of the assets backing it) is only $43 million, and WNXM trades at only 1.2x book value, even though nexus mutual is a cash flow producing entity with very strong growth metrics. Comparable insurance companies in the public equity market trade at 2-5x book value, with high-growth companies like Lemonade and Root trading closer to 50x book value. At one point, you could even have owned WNXMbelow book value! Owning WNXM is one cheap way to invest in the growth of the Ethereum blockchain and DeFi.
While this one has a lot more hair on it and it will take longer to extract the value, buyingEOSmight be the cheapest way to buy bitcoin right now. The company behind EOS has at least 140,000 BTC ($5 billion) on its balance sheet, while EOS trades at under $3 billion in market cap. This means buying EOS is like buying bitcoin at a 47% discountif you’re able to extract this value.
The list goes on and on but the point is fundamental investment analysis can and is being utilized in this growing asset class. Cash-flow analysis and book value analysis are just a few tools we use to analyze and value these instruments. Much like fixed income, every digital asset is unique and has different properties and attributes that create value. Our job as fundamental analysts is to find and extract this value, and to do so in the least risky way possible. In our view, finding upside is not nearly as important as limiting the expected downside.
See also: Jeff Dorman –Digital Assets Are More Recession-Proof Than You Might Think
We often find that today’s digital assets investors are impatient or have a singular view. In a world of common 50%-100% weekly returns, many want and expect immediate results and gratification. Therefore, anything that doesn’t go up right away must be wrong or must carry too high of an opportunity cost to warrant an investment. We find that to be very short-sighted. Every investor, and every investment, has a different mandate and certain investment setups fit different buckets. We approach investing in digital assets from a value lens, and we believe there is a lot of value in this space when you look beyond charts and volatility.
Disclaimer:Arca maintains positions in BTC, BNB, FTT, NXM, EOS, UNI, SUSHI, ETH as of the date of this writing. This information is not intended to be investment advice and should not be construed as such. Past performance is not an indicator of future results. All investing involves the risk of loss, including the risk of loss of principal.
• Fundamental Investing Is Alive and Well in Crypto
• Fundamental Investing Is Alive and Well in Crypto || E-Commerce Set for a Record Year: 5 Stocks to Buy: E-commerce has been breathing life into the retail sector ever since the pandemic struck. In fact, had e-commerce not been there, the retail sector would have taken a more serve beating. And one year down the line, more people today are shopping online given the convenience and safety it promises compared to visiting physical stores.
According to a new report Adobe Analytics, e-commerce is heading toward a milestone year in 2022, as more people continue to shop online. And it seems the trend is likely to continue as there are still no signs of the pandemic easing.
According to a new report from Adobe Analytics, the COVID-19 pandemic helped boost online sales by $183 billion. The figure represents sales in the month of March 2020, when the virus started spreading in the United States through February 2021.
Consumers spent a record $844 billion on shopping during this time. Overall, consumers spent $813 billion on online shopping in 2020 as they mostly stayed home on fear of contracting the virus, reflecting an increase of 42% year over year. Interestingly, this year-over-year jump of $183 billion is almost the total sales generated during the last holiday season (November to December 2020) when consumers spent $188.2 billion on shopping online.
The report further mentions that e-commerce will continue to bolster retail sales in the near term, reaching $1 trillion by 2022. This will also make it the first time that online sales will hit the $1 trillion mark.
After a record 2020, online sales have been doing well this year too. The first two months of 2021 have already seen consumers spending $121 billion shopping online. This reflects a 34% year-over-year jump.
Also, both in-store and curbside pickup services grew in acceptance by 67% on a year-over-year basis as of February 2021.
According to Adobe, the trend will continue as people are still shopping online on fears of contracting the virus. Adobe predicts that if the current growth rate continues, online sales will reach something between $850 billion and $930 billion by 2021.
E-commerce has been helping the retail sector and the trend is likely to continue given that the coronavirus fears are far from over. Moreover, they have started realizing that shopping online is convenient and comes with a set of advantages. This thus makes for an opportune time to invest in stocks with a strong online presence.
Five Below, Inc.FIVE is a specialty value chain retailer that provides a wide range of premium quality and trendy merchandise for $5 or below.
The company’s expected earnings growth rate for the current year is 91%. The Zacks Consensus Estimate for current-year earnings has improved 0.7% over the past 60 days. Five Below carries a Zacks Rank #2 (Buy).
Hibbett Sports, Inc.HIBB typically caters to small counties with a population ranging from 25,000-75,000. Its merchandise assortment is focused on footwear, athletic equipment and apparel.
The company’s expected earnings growth rate for next year is 5.9%. The Zacks Consensus Estimate for current-year earnings has improved 41.1% over the past 60 days. Hibbett Sports has a Zacks Rank #1.
Ethan Allen Interiors Inc.ETH is a leading interior design company, and manufacturer and retailer of quality home furnishings. The company offers free interior design service to its clients and sells a full range of furniture products and decorative accessories through ethanallen.com and a network of the Design Centers in the United States and abroad.
The company’s expected earnings growth rate for the current year is more than 100%. The Zacks Consensus Estimate for current-year earnings has improved 49.2% over the past 60 days. Ethan Allen has a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
L Brands, Inc.LB evolved from an apparel-based specialty retailer to a segment leader focused on women’s intimate and other apparel, personal care, beauty and home fragrance products.
The company’s expected earnings growth rate for next year is 21.9%. The Zacks Consensus Estimate for current-year earnings has improved 32.3.1% over the past 60 days. L Brands sports a Zacks Rank #1.
Tapestry, Inc.TPR is the designer and marketer of fine accessories and gifts for women and men in the United States and internationally. The company offers lifestyle products, which include handbags, women’s and men’s accessories, footwear, jewelry, seasonal apparel collections, sunwear, travel bags, fragrances and watches.
The company’s expected earnings growth rate for the current year is more than 100%. The Zacks Consensus Estimate for current-year earnings has improved 12.3% over the past 60 days. Tapestry has a Zacks Rank #2.
Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.
Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.
See 3 crypto-related stocks now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportHibbett Sports, Inc. (HIBB) : Free Stock Analysis ReportEthan Allen Interiors Inc. (ETH) : Free Stock Analysis ReportL Brands, Inc. (LB) : Free Stock Analysis ReportTapestry, Inc. (TPR) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research || Biden Orders Review Of Transportation Sector: An executive order to be signed Wednesday by President Joe Biden includes a one-year review of transportation networks as well as a review of supply chains for four products considered critical in addressing national emergencies.
AsFreightWaves reported earlier this month, Biden planned to use an executive order to make good on a campaign promise to review critical supply chains and reduce American dependence on imports for pandemic-related equipment and materials.
According to afact sheetreleased Wednesday on the order, "Securing America's Critical Supply Chains," the administration is calling for a review of the "transportation industrial base and supply chains for agricultural commodities and food production." Four other industrial-base sectors in the order include defense, public health and biological preparedness, information and communications technology (ICT), and energy.
The fact sheet notes that agencies and departments – which could include the U.S. Department of Transportation – will also be required to identify locations of key manufacturing and production assets and the role of transportation systems in supporting supply chains.
"While we cannot predict what crisis will hit us, we should have the capacity to respond quickly in the face of challenges," the fact sheet states. "The United States must ensure that production shortages, trade disruptions, natural disasters and potential actions by foreign competitors and adversaries never leave the United States vulnerable again. Today's action delivers on the president's campaign commitment to direct his administration to comprehensively address supply chain risks."
In addition to the one-year transportation-sector review, the order also directs a more immediate 100-day review across federal agencies to address supply chain vulnerabilities for four products:
• Active pharmaceutical ingredients(APIs). "APIs are the part of a pharmaceutical product that contains the active drug. In recent decades, more than 70% of API production facilitators supplying the U.S. have moved offshore. This work will complement the ongoing work to secure supply chains needed to combat the COVID-19 pandemic."
• Critical minerals. "From rare earths [minerals] in our electric motors and generators to the carbon fiber used for airplanes – the United States needs to ensure we are not dependent upon foreign sources...in times of national emergency."
• Semiconductors and advanced packaging. "The United States is the birthplace of this technology and has always been a leader in semiconductor development. However, over the years we have underinvested in production – hurting our innovative edge – while other countries have learned from our example and increased their investments in the industry."
• Large capacity batteries, such as those used in electric vehicles. "While the U.S. is a net exporter of electric vehicles, we are not a leader in the supply chain associated with electric battery production. The U.S. could better leverage our sizable lithium reserves and manufacturing know-how to expand domestic battery production."
Related articles:
• Biden readies critical supply chain review
• Biden names supply chain coordinator to COVID-19 response team
• Power index: Top 10 Biden appointments affecting freight markets
Click for more FreightWaves articles by John Gallagher.
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© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Crypto wallet and exchange company Blockchain.com raises $120 million: Blockchain.comhas announced that it hasraiseda $120 million funding round. The company develops a popular cryptocurrency wallet as well as an exchange, an explorer and more.
Moore Strategic Ventures, Kyle Bass, Access Industries, Rovida Advisors, Lightspeed Venture Partners, GV, Lakestar, Eldridge and other unnamed investors participated in today’s funding round. Overall, the company has raised more than $190 million since its creation.
Originally named Blockchain.info, the company started off as a blockchain explorer. An explorer lets you enter the hash of any transaction that occurs on the bitcoin blockchain to get more information about the amount, fees, number of confirmations as well as the wallet addresses of the sender and the receiver. Over time, explorers started adding support for more blockchains and more types of data.
Blockchain.com then built an open-source bitcoin wallet — it now supports more cryptocurrencies and stablecoins. The company’s wallet is a noncustodial wallet, which means that you’re in control of your private keys. Other noncustodial wallets includeCoinbase Wallet,Argent,ZenGo, etc.
Many crypto users choose to buy bitcoins on an exchange and leave them on the exchange account. In that case, you don’t control the wallet as the exchange takes care of keeping your crypto assets safe for you. Custodial wallets includeCoinbase.com,Binance,Kraken, etc.
There are some advantages and disadvantages with each solution. If an exchange gets hacked or somebody gets your login information through phishing, your assets aren’t safe on a custodial wallet.
If you lose your private key, you can’t access your noncustodial wallet. Blockchain.com and other noncustodial wallet providers have found ways to mitigate the risk of losing access to your wallet by backing up some information.
More recently, Blockchain.com has launchedits own exchangeso that wallet users can trade assets more easily. It now also offers services toinstitutional investorsso that they can get started with cryptocurrencies. Services include order executions, custody, lending, OTC transactions, etc.
Blockchain.com has also shared some metrics. People have created 65 million wallets on the company’s website or using the mobile apps. Since 2012, 28% of bitcoin transactions have been sent or received by a Blockchain.com-managed wallet.
Bitcoin briefly breaks the $50,000 barrier as Coinbase’s direct listing looms || Crypto’s Next Trillion-Dollar Coin by Teeka Tiwari (Event Details): Teeka Tiwari is hosting Crypto’s Next Trillion Dollar Coin event on March 31 at 8PM ET. Get the special webinar details below to see how individuals can get the grand reveal of Teeka’s top crypto coin pick for 2021 during the Palm Beach Research Group livestream. Crypto's Next Trillion-Dollar Coin by Teeka Tiwari Crypto's Next Trillion-Dollar Coin by Teeka Tiwari Crypto's Next Trillion-Dollar Coin by Teeka Tiwari Teeka Tiwari Teeka Tiwari Teeka Tiwari New York, NY, March 23, 2021 (GLOBE NEWSWIRE) -- Teeka Tiwari is preparing to reveal the next trillion-dollar cryptocurrency in grand fashion. Crypto’s Next Trillion-Dollar Coin is a presentation in a webinar format scheduled for Wednesday, March 31 at 8 pm ET . Bitcoin recently surpassed a market cap of $1 trillion. It may be too late to make exponential gains on bitcoin. However, Teeka believes one other coin will be the next to reach $1 trillion. Back in November 2020 when Teeka Tiwari predicted Bitcoin's price to reach $60,000-$70,000 much faster than most people thought, many laughed and thought Mr. Big T, the Crypto Oracle, had lost his touch and was believing in the hype surrounding the world's first digital currency. But fast forward to March 2021, and anyone can check CoinMarketCap or Coinbase or any other number of providers and see just how right (and how fast) he accurately predicted the price of BTC in USD to rise in exchange rate values. So what is the Crypto’s Next Trillion-Dollar Coin webinar? What will you learn during the webinar? Can you really make exponential gains by investing in the right cryptocurrency? Find out everything you need to know about the webinar today. About the Webinar Teeka Tiwari's Next Trillion-Dollar Coin is a red carpet-styled event presentation in an online format scheduled for 8PM ET on Wednesday, March 31st, 2021. Anyone can attend the webinar in exchange for entering their email into the online form . Just submit your email address, start receiving communication from Palm Beach Research Group, and receive a free link to the webinar for the live broadcast. Story continues During the lead-up to the webinar, Teeka will send multiple teasers that build up to the anticipation of the highly-touted webinar about the next trillion dollar coin after Bitcoin. Teeka will send instructional videos about the next trillion-dollar cryptocurrency that will help individuals fully understand just what is at stake after successfully selecting the top performing cryptoassets dating all the way back to 2016 when he told his current subscribers to buy bitcoin at $428 or Ethereum at $9 USD. What is the Next Coin with a Trillion-Dollar Market Cap? Teeka Tiwari has promoted bitcoin and the greater cryptocurrency ecosystem for years now. As mentioned, he first told his followers to buy bitcoin when it was at a price of around $428 back in 2016 when almost no one was talking about it as an alternative investment class. Throughout the last three to five years, while bitcoin hit lows of around $3,000, Teeka continued to tell his followers to buy bitcoin, ethereum and promising altcoins. In fact, dating back to 2016 when he told his loyal members of the Palm Beach Confidential and Palm Beach Research Group to buy BTC and ETH, he has went on to predict the best performing coins in 2017 (XRP), 2018 (BNB) and 2019 (LINK), while in 2020 he hosted the 5 Coins to $5 Million series where he picked winners like ATOM and EJN to name a few. And now that Bitcoin has surpassed a $1 trillion market cap earlier this year, Teeka is on the hunt for the next trillion dollar cryptocurrency. So while BTC has been sitting in a range of $50,000 to $60,000 for several weeks, he believes the crypto market is still set to explode in value over the coming months and years. As of March 2021, bitcoin’s market cap is around $1.1 trillion while the entire cryptoasset market cap has been over $1.7T. You may have missed your chance to buy bitcoin (or at least to make exponential gains from bitcoin). However, Teeka believes another cryptocurrency will soon reach a $1 trillion market cap . The next largest cryptocurrency, Ethereum (ETH), has a market cap between $200 and $300 billion, depending on when you check the price. ETH would need to quintuple in value to reach a $1 trillion market cap. Teeka has not disclosed his mysterious coin to us or anyone else upfront. It could be ETH or another well-known coin. Or, it could be a relatively unknown coin. To find out which coin Teeka believes will reach a $1 trillion market cap, tune into the Crypto’s Next Trillion-Dollar Coin webinar on March 31 at 8 pm ET. How Much Money Can You Make? Teeka Tiwari loves to dazzle readers with claims of huge returns on investment. Teeka claims his previous investment recommendations have led to gains of 3,976%, 17,613%, and 38,055%. If you followed Teeka’s previous investment advice, then you could have made these gains, according to Teeka. Teeka is careful to say that past returns do not guarantee future results. However, by investing in his recommended trillion-dollar cryptocurrency today, investors can purportedly earn huge returns on investment. If ETH reaches a $1 trillion market cap, for example, then it needs to make gains of 500%. If Teeka recommends buying another cryptocurrency, then the gains would need to be even higher to reach a $1 trillion market cap. During the lead-up to the event, Teeka and his team will send you “strategy sessions” where he discusses the importance of the $1 trillion market cap – and why he believes one specific coin will be the next to reach it. About Teeka Tiwari Teeka Tiwari is a former hedge fund manager and current financial analyst. He works for financial publishing firm Palm Beach Research Group, where he leads multiple newsletters covering different topics. In recent years, Teeka has heavily promoted cryptocurrency investing. He’s a big believer in bitcoin, as he has done boots on the ground research, traveling all over the world to connect with leaders in the industry and heads of teams, leading some of the most important projects in crypto. In the last few years, Teeka has led multiple successful webinars to discuss who is who in the crypto industry , point out the most important projects, and where new investors can see fruitful rewards. He regularly leads webinars for Palm Beach Research Group. Most of these webinars are free, although you agree to receive promotional offers from the company in exchange for attending the webinar. About Palm Beach Research Group Palm Beach Research Group is a Florida-based financial publishing company. The company offers a range of free and paid subscription services. Palm Beach Research Group is led by editor Teeka Tiwari and other investment analysts. Some of the company’s newsletters focus on crypto investing. Others focus on commodity investing, get-rich quick-style investments, long-term conservative investments, and other areas. You can contact Palm Beach Research Group via the following: Email: [email protected] Phone: 1-888-501-2598 Mailing Address: 55 NE 5th Avenue, Delray Beach, FL 33483 Email Form: https://www.palmbeachgroup.com/contact-us/ Notable newsletters from Palm Beach Research Group include Palm Beach Daily, The Palm Beach Letter, Palm Beach Confidential, and Teeka Tiwari’s Alpha Edge, among others. How to Attend the Crypto’s Next Trillion-Dollar Coin Webinar The Crypto’s Next Trillion-Dollar Coin webinar is free for anyone to attend . Just enter your email address into the online form to get started. There’s no “catch” to the offer, but you will receive promotional offers from Teeka Tiwari and the Palm Beach Research Group team. You can expect to receive advertisements for some of the company’s paid newsletters, including the crypto-focused newsletter Palm Beach Confidential. Conclusion Crypto’s Next Trillion-Dollar Coin is a webinar scheduled for Wednesday, March 31 at 8 pm ET. The webinar is free for anyone to attend in exchange for entering an email address . You’ll receive a link to the webinar on the day of the presentation. During the webinar, crypto guru and investment analyst, Teeka Tiwari will reveal the next coin he believes will rise to a $1 trillion market cap. Bitcoin famously surpassed a $1 trillion market cap earlier this year, and Teeka claims another coin will soon join bitcoin in the trillion-dollar club. In closing, there are two things in life that almost always hold true, especially in the wild wild west world of cryptoassets, and that is a) follow the right people and b) act on the right information. Teeka Tiwari, The Crypto Oracle, has already been voted number one most trusted crypto expert in the past and has done nothing but strengthen his research and knowledge inside this fast-paced financial realm. And now that Teeka, who is a boots on the ground, belly to belly, travel around the world for exclusives type of crypto advocate, is ready to re-emerge with some first-class information regarding Crypto's Next Trillion Dollar Coin, in which you can watch and attend for free, this is almost a no brainer. All of his previous webinars and online broadcasts have been extremely entertaining, highly informative and very compelling - from the Jetinar (a live event hosted on a private jet) to his travels around the world networking at top industry events and team leaders and project developers, Teeka Tiwari is the go-to man to follow and listen in on what appears to be the next big coin in the making behind Bitcoin. To learn more about the Crypto’s Next Trillion-Dollar Coin webinar or to sign up today, enter your email address into the online form . Official Website - https://signup.palmbeachgroup.com/ Contact Details: Palm Beach Group [email protected] TOLL FREE 888-501-2598 About MarketingByKevin.com This product review is published by Marketing By Kevin. Marketing By Kevin reviews are researched and formulated by a group of experienced natural health advocates with years of dedication and determination to finding the highest quality health products and wellness programs available. It should be noted that any purchase derived from this resource is done at your own peril. It is recommended to consult with a qualified professional healthcare practitioner before making an order today if there are any additional questions or concerns. Any order finalized from this release’s links are subject to the entire terms and conditions of the official website’s offer. The researched information above does not take any direct or indirect responsibility for its accuracy. Affiliate Disclosure: The links contained in this product review may result in a small commission to Marketing By Kevin if you opt to purchase the product recommended at no additional cost to you. This goes towards supporting our research and editorial team and please know we only recommend high quality products. Disclaimer: Please understand that any advice or guidelines revealed here are not even remotely a substitute for sound medical advice from a licensed healthcare provider. Make sure to consult with a professional physician before making any purchasing decision if you use medications or have concerns following the review details shared above. Individual results may vary as the statements made regarding these products have not been evaluated by the Food and Drug Administration. The efficacy of these products has not been confirmed by FDA-approved research. These products are not intended to diagnose, treat, cure or prevent any disease. Product support: [email protected] Media Contact: [email protected] Attachments Crypto's Next Trillion-Dollar Coin by Teeka Tiwari Teeka Tiwari CONTACT: Kevin Mahoney 708-247-1324 [email protected] || Investview Says It Holds More Than $1M in Crypto on Its Balance Sheet: Financial technology company Investview said it holds more than $1 million inbitcoinand other cryptocurrencies on its balance sheet.
• New Jersey-based Investview recorded estimated net income of $1.9 million and gross revenue of $5.5 million for the month of February.
• Both figures were records, the companyannouncedMonday.
• The Venture Market-traded company’s cryptocurrency holdings in BTC and other digital currencies also surpassed $1 million as of Feb. 28.
• Investview is a financial technology company that provides cryptocurrency mining technology as well as financial education tools, content and research.
See also:Valkyrie Files for an ETF That Would Invest in Firms With Bitcoin on Their Balance Sheets
• Investview Says It Holds More Than $1M in Crypto on Its Balance Sheet
• Investview Says It Holds More Than $1M in Crypto on Its Balance Sheet
• Investview Says It Holds More Than $1M in Crypto on Its Balance Sheet
• Investview Says It Holds More Than $1M in Crypto on Its Balance Sheet || First Mover: Tesla Sends Bitcoin Mooning Past $44K as Snoop Wins #dogebowl: CoinDesk TV is here!Regular programming starts Mondayas we roll out three daily and three weekly shows, including“First Mover,”hosted by Christine Lee, Lawrence Lewitinn and Emily Parker, airing every weekday at 9 a.m. U.S. Eastern time. Today’s debut episode features guestsBrian Brooks, former U.S. comptroller of the currency;Tim McCourt, global head of equity products at CME; andYassine Elmandjra, an analyst for Cathie Wood’s ARK Investment Management.
Bitcoin shoots to new all-time high price above $44K:Tesla’s disclosure early Monday that it bought $1.5 billion ofbitcoinand will now accept it as a form of paymentsent the cryptocurrency’s price mooning more than 11% early Monday.
The announcement is “yet anotherconfirmation that bitcoin is going mainstream,” Matt Blom, head of sales and trading for the cryptocurrency exchange firm EQUOS, wrote Monday in an email.
Related:Blockfolio Apologizes After Racist Terms Posted in Portfolio App
Ethereum futures go live on CME:The Chicago-based exchange hasopened trading in its much-anticipated futures contractsonether, the main cryptocurrency of the Ethereum blockchain. Prices for ether, which is the second-biggest cryptocurrency after bitcoin, rose to anall-time high last week above $1,700, partly on expectations the CME’s new offering might lure more big institutional investors into the market.
Dogecoin pump:Pricesfor the doggie-faced meme tokensoared70% on Saturday and Sunday after it apparently won over rapper Snoop Dogg and rocker Gene Simmons as new celebrity endorser-pumpers. (See Token Watch, below.) On Monday,dogecoin‘s price was down 3.9% to 7.5 cents.
Intraditional markets, stocks were higher after U.S. Treasury Secretary Janet Yellen hit the Sunday talk shows to drum up support for a largestimulus package. The 30-year U.S. Treasury-bond yield rose above 2% for the first time in almost a year. Gold strengthened 0.4% to $1,821 an ounce.
Tesla’s #Bitcoin Moment:In anannual reportfiled with the U.S. Securities and Exchange Commission for the year ending Dec. 31, 2020, theelectric vehicle maker said, “In January 2021, we updated our investment policy to provide us with more flexibility to further diversify and maximize returns on our cash that is not required to maintain adequate operating liquidity,” and that “thereafter, we invested an aggregate $1.50 billion in bitcoin under this policy and may acquire and hold digital assets from time to time or long-term.” Late last month, Twitter CEO Elon Musk caused astir in the marketwhen headded “#bitcoin” to his Twitter profile.
Related:KeepChange Foils Bitcoin Theft but Loses User Data in Sunday Breach
Miller Time:Investing-legend-turned-bitcoin-bull Bill Miller’s$2.3 billion flagship fund hasexpanded its investment mandateto include purchases of Grayscale Bitcoin Trust (GBTC), up to 15% of assets under management. (EDITOR’S NOTE: Grayscale is a unit of Digital Currency Group, which also owns CoinDesk.)
Bitfinex-Tether:Cryptocurrency exchange Bitfinex said Friday itrepaid the remaining balance of a $550 million loanto its sister firm, Tether, the issuer of thetether(USDT) stablecoin. It’s the latest development in a saga dating back to 2018, and the loan has drawn scrutiny from prosecutors in New York state.
Binance’s Nigeria Suspension:The world’s biggest cryptocurrency exchange hastemporarily suspended deposits in Nigeria’s domestic currency, the naira, after authorities in the country sent a letter on Friday instructing local banks to identify and close all accounts tied to cryptocurrency platforms or operations. Though after a wave of outrage on social media, the Nigerian central bank on Sunday issued afive-page statement clarifying that there was nothing newabout the instructions.
#IndiaWantsBitcoin:Indian cryptocurrency exchanges havestarted a joint initiativeto convince the country’s parliament to regulate cryptocurrencies rather than impose an outright ban. But the Indiangovernment still appears intent on fast-tracking a billthat would kick off development of a digital rupee while banning “private cryptocurrencies.”
It’s the Year of the Ox. Why would anyone sell?
The “Chinese New Year Dump”represents the belief among some cryptocurrency traders that bitcoin’s price typically drops around the Asian country’s holiday period, starting this year on Feb. 12.
But it might not happen in 2021.Why? The theory is that the entry of big institutional investors in the U.S. and Europe into the market may mute the impact of retail traders in China, who in the past may have taken time off from the markets,reports CoinDesk’s Muyao Shen. The bull run of 2017 was heavily powered by retail investors in Asia.
“It is just like how people in the U.S.would take profit from stock holdingsbefore Christmas,” says Alex Zuo, vice president of China-based crypto wallet Cobo.
Fireworks:Chinese-language social media platformsarefilled with discussions of whether the current bitcoin bull market might pause during the holiday season.
Plus, the year of the ox is coming in 2021,under the Chinese lunar calendar. As one might imagine, that’s bullish. While some traders might have sold their bitcoin for the holiday, a large number investors in China are betting on a long-lasting positive market trend, and appear prepared to hold on into the new year.
Bullish case strengthens with rising inflation expectations
Even before the Tesla news hit early Monday, bitcoin’s bullish case was strengthening, with U.S. inflation expectations on the rise, CoinDesk’s Omkar Godbole writes.
• U.S. 10-year inflation expectations, as implied in the market for government bonds, have climbed on Monday to asix-year high of 2.2%.Over the past 10 months, bitcoin prices appear to have risen in tandem with the inflation expectations.
• Friday’s disappointing report on the January employment situation in the U.S. appears to havecrystalized support for President Joe Biden’s $1.9 trillion stimulus package. (NOTE:Nonfarm payrolls rose by 49,000, well below the 250,000 increase projected by economists at Citigroup.)
• “Support for a large package is highnow among the American population because the crisis is still top of mind and people want it to be over,” Ed Mills, Washington policy analyst for the brokerage firm Raymond James, wrote Friday in a report.
• “I’m not cutting the size of the checks,”U.S. President Joe Bidensaid Friday.
• The comments came despitenagging anxiety over the size of the packageamong members of the opposition Republican Party and even some Democrats.
• “There is a chance that macroeconomic stimulus on a scale closer to World War II levels than normal recession levels will set offinflationary pressures of a kind we have not seen in a generation, with consequences for the value of the dollar and financial stability,” former U.S. Treasury SecretaryLawrence Summers wrote last week in an op-edfor the Washington Post.
• Morecorporate treasurers are being pushed to consider bitcoin,following MicroStrategy’s lead – and now Tesla’s lead, too.
Dogecoin (DOGE):The rapper Snoop Doggtweetedan image on Saturday with the words “Snoop Doge” at Elon Musk, the electric-vehicle and private-spaceflight entrepreneur who has himself recently promoted dogecoin (as well as bitcoin). The price pump helped give dogecoin, which was launched in 2013 as little more than a joke, a market capitalization of more than $9 billion, up more than 11-fold just this year alone. The Shiba Inu-themed token also got a shout-out from Gene Simmons, bassist for the rock band Kiss, whotweeteda glowing image of himself under the words, “God Of Dogecoin.” The crypto news site Decrypt reported that one dogecoin address apparentlyheld 27% of the entire coin’s entire supply, and the hashtags#dogecoinriseand#dogebowlwere trending on Twitter at various moments. The entire thing was pretty DOGE-gone ridiculous.
Ether (ETH):The second-biggest cryptocurrency might be getting an uplift from tradersrotating out of bitcoin into etherand other altcoins, CoinDesk’s Daniel Cawrey reported. Joel Edgerton, chief operating officer of cryptocurrency exchange BitFlyer USA, said he thinks of ether as an exchange-traded fund for decentralized finance, known as DeFi, which is a sector of the cryptocurrency industry where entrepreneurs are building software-based, automated versions of lenders and trading systems, mostly atop the Ethereum blockchain. “Should DeFi projects continue to grow at the rate they are, it would be hard for ETH to not also continue setting new records,” said Guy Hirsch, managing director of U.S. for the online trading platform eToro. Chad Steinglass, head of trading at CrossTower Capital, says crypto traders have been scooping up ETH ahead of the Chicago-based CME exchange’s launch of ether futures, scheduled for Monday. “The addition of CME futures will open the door to many potential investors who want to have exposure, but have yet to take any positions due to logistical hurdles.”
0x(ZRX): 0x Labs, the firm behind the decentralized exchange protocol and ZRX token, has closed a $15 million Series A equity round led by Pantera Capital, CoinDesk’s Brady Dalereported. Additional funding participants included Jump Capital, Blockchain Ventures, Coinbase Ventures and others. The new round comes off the successful launching of 0x’sDEX router, Matcha, which came out in June and has processed $2.7 billion in orders. Prices for the ZRX tokens have nearly quadrupled this year, to a market capitalization of $1.4 billion.
SUSHI’S PRICE-TO-SALES RATIO:Fundamental investing is alive and well in crypto,Arca’s Jeff Dorman writes. “The digital assets ecosystem has evolved into a complex asset class and has become perhaps the perfect asset class for fundamental analysis and low-risk, high-reward investing.”
IT’S THE CLEARING, STUPID:Paxos CEO Charles Cascarillawritesthat the Lehman Brothers, Gamestop and “next financial crisis” have in common an antiquated system for settling and clearing trades.
“The central counterparty settlement monopoly is like a 19th century sewer system: it runs smoothly in good weather, but the streets flood when a storm hits.”
ETHER IS A HIPPY:Zubin Koticha, CEO of Opyn,tweeted outthe following “political compass of cryptocurrencies,” admittedly subjective:
• First Mover: Tesla Sends Bitcoin Mooning Past $44K as Snoop Wins #dogebowl
• First Mover: Tesla Sends Bitcoin Mooning Past $44K as Snoop Wins #dogebowl || Codebase Explores NFT Blockchain Ecosystem Investments: Newly Appointed Advisors' Network Positions Code to Identify and Secure Prime NFT Assets
VANCOUVER, BC / ACCESSWIRE / March 31, 2021 /Codebase Ventures Inc.("Codebase" or the "Company") (CSE:CODE)(FSE:C5B)(OTCQB:BKLLF) is updating its blockchain ecosystem investment strategy as the Company and its advisors actively explore NFT (non-fungible token) assets. Given the Company's current portfolio of blockchain ecosystem assets, NFT's represent a natural progression of its strategy.
After the sale of Beeple's NFT fetching $65M1at auction earlier this month, the interest in non-fungible tokens has moved to the forefront as investors and speculators turn to blockchain-based NFTs as potential investment vehicles. With over $100 million worth of digital art and collectables being sold on the open market in the past 30 days,2NFT's are one the fastest growing areas of blockchain and blockchain-based assets.
Jack Dorsey, the CEO and Co-Founder of Twitter further fueled the flames after selling his own NFT of the first ever ‘Tweet' published to Twitter for $2.9M.3Time Magazine followed suit, releasing plans to auction off three unique NFTs of TIME's most iconic magazine covers.4
"In any market experiencing explosive growth, there are always going to be pioneers pushing the space forward and those who are looking to profit, Code is the former, a pioneer with the expertise and strong network that is focused on the next generation use cases for NFT's," comments Codebase advisor, Mr. Jake Chernoff. "We'll see NFTs emerge in non-conventional areas of our lives, with tokenizing of real-world assets and important documents on the blockchain being a few I believe we'll see sooner than later. In the long term it is the real-world use cases that excite us most, and represent the areas we will focus our attention towards."
As Codebase navigates the quickly developing world of NFTs by leveraging their relationships and newly acquired expertise, they will look to invest in the next generation of NFTs and the companies that they believe will continue to push the space forward.
About NFT's:
A non-fungible token or NFT, is a unique token or asset existing on a blockchain such as Ethereum. Unlike other popular cryptocurrencies such as Bitcoin or Ethereum which are fungible, meaning they can be swapped or exchanged with other coins of the same type. NFTs contain unique data and cannot be replicated or exchanged with similar tokens, making them non-fungible in nature. In simpler terms, this means that the asset is "one-of-a-kind" and can be verified authentic using the blockchain.
The Company also announced that it has engaged Digitonic Ltd. for $216,000 USD to provide investor awareness services over a 2-month period.
1https://techcrunch.com/2021/03/11/beeples-69-million-nft-sale-marks-a-potentially-transformative-moment-for-the-art-world/?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAFVO2-opAurqYraviPMempPpLx6b3b_5cOflKHDvruEeTwfdly2s4MAeQ5xtshcpFJ_3EUpV5_amN1K--THzo9vqNVHL6iZ4GSpLSKRUf2J0x_rElWKmbIy5MFX-3y8tLlyF8Kadt1QhPz0nhkVabv8JF9GX2HzwOwOemq2DQvj7
2https://dappradar.com/ethereum/marketplaces/opensea
3https://www.wsj.com/articles/jack-dorseys-first-tweet-sells-as-nft-for-2-9-million-11616455944
4https://time.com/5948741/time-nft-covers/
About Codebase Ventures Inc.
Codebase Ventures Inc. seeks early-stage investments in sectors that have significant upside. We seek innovators who are establishing tomorrow's standards. We support those innovators and help take their ideas to market.
For further information, please contact:
George Tsafalas - Ivy LuInvestor RelationsTelephone: Toll-Free (877) 806-CODE (2633) or 1 (778) 806-5150E-mail:[email protected]
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
SOURCE:Codebase Ventures Inc.
View source version on accesswire.com:https://www.accesswire.com/638293/Codebase-Explores-NFT-Blockchain-Ecosystem-Investments || Money Reimagined: Enterprise Blockchain Isn’t Dead: Welcome to Money Reimagined. A snowy week has left New Yorkers chilly. But ether investors must be feeling cosy. Ethereum’s native token has risen more than 25% on the week to clock new record highs and far outpace bitcoin’s gain, while Ethereum-centric decentralized finance (DeFi) data showed new records for total value locked in DeFi. The numbers speak volumes about the symbiotic relationship between DeFi and ether but also show how much pressure is on developers to execute on the Ethereum 2.0 upgrade. The congested network is grappling with sky-high transaction fees (as I discuss below). From the vibrant trading in ETH , DeFi tokens and other crypto assets to another wild market story: the WallStreetBets/GameStop episode that we (and pretty much every other media outlet in finance) has been obsessed with these past two weeks. The political, social, economic and technological fallout from that affair was the topic of conversation in this week’s “Money Reimagined” podcast. In it, Sheila Warren and I engage in an edgy, far-ranging conversation with “Hidden Forces” podcast host Demetri Kofinas that ties the WSB/GameStop phenomenon into everything from FDR to Occupy Wall Street to surveillance capitalism. Related: Nigerian Central Bank Says Its Ban on Crypto Accounts Is Nothing New Don’t miss it. Oh, but read the newsletter below first. Enterprise blockchain’s not dead. It just needs crypto The headline for CoinDesk reporter Ian Allison’s big story this week highlighted a major failure for the most influential enterprise IT company in history: “IBM Blockchain Is a Shell of Its Former Self After Revenue Misses, Job Cuts.” But there’s a bigger issue here than Big Blue’s struggle to turn blockchain advisory services into an engine for cloud service revenues. It’s that this story will be viewed by Bitcoin maximalists and crypto skeptics alike as proof that “enterprise blockchain” is dead. There are no viable business applications for blockchain technology, these people will tell you, beyond supporting native cryptocurrencies for payments or as a store of value. Story continues I think that’s patently wrong. There’s still plenty of innovation going on in blockchain-founded and blockchain-inspired multi-party computing solutions. Real progress is being made to overcome some of the sticking points that initially slowed the technology’s real-world deployment – in trusted computing, in internet-of-things integrations and in digital identities. Related: Dogecoin Rises More Than 36% After Snoop Dogg Becomes Snoop DOGE Meanwhile, in supply-chain applications, in public health and in credentialing systems, blockchain technologies are already operating in the real world, though they are very much in the background as a low-key element inside otherwise multifaceted solutions. Worldwide, blockchain has been incorporated into a variety of active information management systems – for example, to trace diamonds and other products in mining supply chains, for private key management in digital identity systems and to enable the right mix of public data and privacy in COVID-19 contact tracing apps. Many of those use IBM technology. That there’s no hyperbolic “blockchain fixes this” fanfare attached to these backend implementations doesn’t make them less relevant. The problem of “corporate adoption” revolves more around how businesses approach the technology, a flawed mindset that IBM has (perhaps unintentionally) promoted. It’s not the technology’s fault but one of a deep misunderstanding within C-suites of what it offers to their business environment. The road to success first requires recognition that blockchain technology is not an internal tool but an external one. Its main purpose is to allow non-trusting entities within a particular business ecosystem to share information that’s valuable to all participants without relying on a middleman. That structure means the blockchain-based data-sharing system must be equally supported by a firm’s competitors and business partners. It requires boldness: a willingness to cede control and to bear the cost of disruption that blockchain-based approaches will impose. Only then can it be used to unlock the rich, systemwide data needed to achieve efficiency around resource management and forge sustainable economic systems that serve both business and society. ‘We technology’ Big-name consultancies selling “blockchain-as-a-service” (BAAS) have fostered the misguided idea that “blockchain” is akin to a proprietary ERP software product that, once plugged into the IT system, will start boosting efficiency and increasing the bottom line. But this is not plug-and-play technology. In fact, it’s hard stuff. To make a blockchain solution work across a supply chain or an electricity grid (for example) requires each player to contribute to the greater good, in code development, in computing resources, in sharing data. To quote a cheesy line I used in presentations during my own time consulting in a pre-CoinDesk life, “Blockchain is a we technology, not a me technology.” It only works when multiple, competing, non-trusting entities agree to use it and share in the gains and headaches. By extension, a working blockchain involves sharing resources with competitors, including with startups developing disruptive innovations that challenge the incumbent’s core business. It requires an open, collaborative, come-what-may approach to participation that’s anathema to business models built around trade secrets and protecting competitive advantages. For many businessmen, eager to protect people’s bonuses and jobs, it seems like a non-starter. Yet, history tells us that doing nothing in the face of disruption can have even greater cost, including the collapse of entire firms. The reality is that first-mover companies bold enough to embrace disruptive technologies will gain a competitive advantage over those that can’t take the leap. This innovator’s dilemma is front-and-center for would-be blockchain participants and it’s not properly acknowledged. To be sure, enterprise blockchain advocates typically understand some aspect of the “me” versus “we” challenge. That’s why there was a rush to form industry blockchain consortia between 2016 and 2018. But as Allison also reported early on in the formation of the TradeLens consortium founded by shipping giant Maersk , those groups are hard to manage precisely because competitors, as well as business partners, will mistrust the motives of the founding institution. Also, partly because of companies’ unwillingness to cede control, and partly because of regulatory and other constraints, these consortia almost always default to private blockchains with fixed membership. They create walled-garden, closed-loop environments that inevitably innovate less well than open-source communities where ideas from anyone are welcomed and shared. Embracing the radicals The hard truth is that for blockchain business consortia to succeed they must accept outsiders, with all the disruptive threats they pose. They must embrace the notion of open-access permissionless innovation that’s at the heart of public blockchain-based crypto communities. There’s even a role for Big Blue in all this. Leave IBM’s consulting division and you find that open-minded approaches to blockchain still thrive. In those cases, the focus is about what can be built and developed on top of this open distributed ledger architecture, rather than on selling cloud services. In IBM research, for example, Nitin Gaur, Director of the IBM WW Digital Assets Lab, is doing groundbreaking research into how banks and traditional financial participants might engage with the dynamic, open-source world of decentralized finance (DeFi), perhaps the epitome of freewheeling, public blockchain innovation. (Perhaps only EY blockchain lead Paul Brody is on par in the consulting world for embracing DeFi’s potential .) Meanwhile, the health sciences team has developed an IBM Digital Health Pass , which provides an innovative, privacy-preserving solution to managing shared COVID-19 health records. You wouldn’t know from the app that it’s powered by a blockchain, but it is. While its sales pitch on blockchain may not have reflected it, IBM’s history is one of (eventually) shifting with the times and addressing disruption. The reason it has survived, despite massive waste over the years, is that, when push comes to shove, it embraces change. You see it in Big Blue’s journey from mainframe computers to PCs to software development to consultant services. If it can get away from offering blockchain as some magical solution and instead incorporate it as a back-end element to useful new applications, IBM can help drive real change in business practices around this technology. Bitcoin Slightly Less ‘Dominant’ Vs. Ethereum Ethereum’s ether has been on a tear this past week, hitting a new all-time high of $1,740 at the time of writing. Bitcoin also had a good week, just not as crazy good as ether. So it made sense to look at how the metric of “bitcoin dominance” is playing out in the crypto universe, particularly as it compares to the boom period for ether of January 2018. In this case, CoinDesk’s Shuai Hao used the market cap measurements at the end of January for bitcoin, ether, and for the other 18 digital assets listed in the CoinDesk 20 , as the foundation. Then he ran the numbers back to 2017. Sure enough, this is the second-highest proportion of total crypto market cap that ether represents after 2018. Sustainable? Who knows? For answers, watch how DeFi and the new Ethereum 2.0 project play out. The Conversation: The fees are too damn high One reason it was a big week for Ethereum was because it was another big week for decentralized finance (DeFi) applications built on top of it. The amount of total locked value in DeFi has continued to reach new all-time highs on a weekly basis, but its new record – at around $33.45 billion as of Friday morning – was impressive for the speed with which it jumped from $27.31 billion on Jan. 29. Of course, with growth comes problems, especially because Ethereum hasn’t yet migrated to what is supposed to be a more scalable Ethereum 2.0 blockchain. As such, the congestion of transaction orders pushed up fees paid to miners for clearing transactions. As of early Thursday morning, so-called Ethereum “gas” fees were at record highs. This prompted Maya Zehavi to point out both the challenges and the opportunities for DeFi innovators, highlighting the gas fee sticker shock and the prospect for layer 2 DeFi solutions that don’t require costly on-chain transaction processing, which would in theory lower transaction costs. Meanwhile, someone with the Twitter handle @youngtilopa compared Google searches for “DeFi” and one equity stock that’s been in the news recently. So maybe a sober view is needed. DeFi still has a long road to travel. Whether layer 2 will help it scale and open opportunities for lower-cost transactions remains to be seen. Relevant Reads: Divergent global regulation Approaches to cryptocurrency regulation and development continue to vary among the governments of the world. The one consistency is a wariness of crypto; the big difference is how proactively each government is itself acting to innovate with the technology. Early in the week, we got news India would ban private cryptocurrencies under proposed legislation, fostering a firestorm of criticism for what many said would be the death knell for fintech innovation in the world’s second most populous nation. CoinDesk’s Omkar Godbole reports . South Africa has a relatively vibrant crypto-using community. Now, as Tanzeel Akhtar reports , the South African Revenue Services is moving to make sure that growing user base doesn’t get away with untaxed capital gains. Meanwhile, China has been playing the long game. CoinDesk contributor Michael Kimani argues China’s heavy investment and incentives to build out Africa’s connectivity with Chinese mobile technology has positioned the country well to deploy a Chinese digital currency on the continent in a bid to boost its influence. Related Stories Money Reimagined: Enterprise Blockchain Isn’t Dead Money Reimagined: Enterprise Blockchain Isn’t Dead
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 58192.36, 56048.94, 58323.95, 58245.00, 59793.23, 60204.96, 59893.45, 63503.46, 63109.70, 63314.01
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2018-03-09]
BTC Price: 9337.55, BTC RSI: 41.11
Gold Price: 1322.40, Gold RSI: 48.79
Oil Price: 62.04, Oil RSI: 50.21
[Random Sample of News (last 60 days)]
How Altaba, Inc. Shares Rose 81% in 2017: Shares ofAltaba(NASDAQ: AABA), gained 80.6% in 2017,according to data from S&P; Global Market Intelligence. What remains of the old Yahoo! business, followingVerizon's(NYSE: VZ)buyout of most of that company's assets, rode the coattails of a surgingAlibaba(NYSE: BABA)last year.
Image source: Getty Images.
Altaba is in fact designed to be a proxy for investing in Alibaba directly. Yahoo! started its 15% ownership of Alibaba years before the Chinese e-commerce giant joined the public market, and found it worthwhile to keep that mojo running when Verizon picked up Yahoo!'s actual business operations. Besides a $72.8 billion stake in Alibaba, Altaba also owns shares worth $9.6 billion of former subsidiary Yahoo Japan, plus a smattering of smaller holdings. But the Alibaba interest represents 88% of Altaba's total net asset value, so the two stocks are joined at the hip.
AndAlibaba had a banner year in 2017with a 96.4% share-price jump, taking Altaba along for the ride.
Investors who own Altaba instead of Alibaba are either holdovers from the Yahoo! days who simply haven't done anything with their reformed stock holdings or they are value-minded growth investors who see the stockselling at a 30% discountto the value of its actual assets.
That large discount stems from the enormous tax bill Altaba would face if it attempted to bring its China-based Alibaba gains back to U.S. soil under current tax rules. If the company can find workarounds for that issue, or the rules change to a more favorable model somewhere down the line, early Altaba investors should be able to pocket some of that price difference.
That's a very long-term bet, however. It's not easy to find international tax loopholes large enough to take home a cool $73 billion in Alibaba holdings, and that asset is still growing at a skyrocketing pace. I'm quite content to own Alibaba shares instead, but both stocks should add plenty of value to your portfolio over the long run.
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Anders Bylundowns shares of Alibaba. The Motley Fool owns shares of and recommends Verizon Communications. The Motley Fool also recommends Altaba. The Motley Fool has adisclosure policy. || Banks in Britain and U.S. ban Bitcoin buying with credit cards: By Lawrence White and Emma Rumney LONDON (Reuters) - Banks in Britain and the United States have banned the use of credit cards to buy Bitcoin and other "cryptocurrencies", fearing a plunge in their value will leave customers unable to repay their debts. Lloyds Banking Group Plc (LLOY.L), which issues just over a quarter of all credit cards in Britain, and Virgin Money (VM.L) said they would ban credit card customers from buying cryptocurrencies, following the lead of U.S. banking giants JP Morgan Chase & Co (JPM.N) and Citigroup (C.N). The move is aimed at protecting customers from running up huge debts from buying virtual currencies on credit, if their values were to plummet, a Lloyds spokeswoman said. Concerns have arisen among credit card providers because their customers have increasingly been using credit cards to fund accounts on online exchanges, which are then used to purchase the digital currencies. However, other banks said on Monday they will continue to allow credit card customers to buy cryptocurrencies. "We constantly review our protections for customers as a responsible bank and lender, and are keeping this matter under close review," a spokeswoman for Barclays said. Barclays is Britain's leading credit card issuer with a market share of around 27 percent through its Barclaycard brand. "At present UK customers can use both their Barclays debit card and Barclaycard credit card to purchase cryptocurrency legitimately," the Barclays spokeswoman said. Spain's second-biggest bank BBVA (BBVA.MC) also said it has no restrictions in place on such purchases. Last week Mastercard Inc (MA.N), the world's second biggest payments network, said customers buying cryptocurrencies with credit cards fuelled a 1 percentage point increase in overseas transaction volumes in the fourth quarter. At that time Bitcoin was staging a spectacular rise in value, reaching a peak of $19,187 on Dec. 16 on the Luxembourg-based Bitstamp exchange. Story continues But the biggest and best-known cryptocurrency has since fallen dramatically and on Monday was down by 11 percent to $7255 at 1719 GMT on Bitstamp, extending losses from Friday amid worries of a global regulatory clampdown. CREDIT RISK The decision on whether to allow credit card users to buy cryptocurrencies is a credit risk decision made by the card-issuing banks, a spokesman for Mastercard said. A spokeswoman for Chase bank said it is not currently processing credit card purchases of cryptocurrencies because of the volatility and risk involved, while a Citi spokeswoman confirmed a similar ban, but did not give a reason. The bans extends only to credit card purchases, with debit card users still able to buy cryptocurrencies. "Across Lloyds Bank, Bank of Scotland, Halifax and MBNA, we do not accept credit card transactions involving the purchase of cryptocurrencies," the Lloyds spokeswoman said in an email. Lloyds did not say how it planned to enforce the ban, although the Telegraph newspaper reported on Sunday that its credit card customers will be blocked from buying Bitcoin online through a "blacklist" that will flag sellers. A spokeswoman from the Royal Bank of Scotland (RBS.L) declined to comment on the bank's policy. Europe's biggest bank HSBC (HSBA.L) did not respond to requests for comment on whether it permits credit card purchases of cryptocurrencies. Concerns about the use of Bitcoin and other such currencies extend beyond the use of credit cards for borrowing. British Prime Minister Theresa May has said Britain should take a serious look at digital currencies such as Bitcoin because of the way they can be used by criminals. (Additional reporting by Anjuli Davies in London and Jesus Aguado in Madrid; Editing by Peter Cooney and Alexander Smith) || Regulatory fears hammer bitcoin below $10,000, half its peak: By Tommy Wilkes and Hideyuki Sano
LONDON/TOKYO (Reuters) - Bitcoin fell as much as 20 percent on Wednesday, piercing below $10,000, while other cryptocurrencies took similar spills due to investor fears that regulators could clamp down on them in an effort to curb speculation.
The world's biggest and best-known cryptocurrency at one point lost 30 percent of its value since Tuesday. Bitcoin, despite some stabilization in late U.S. trading, was half its record peak of almost $20,000 set on the Luxembourg-based Bitstamp exchange a month ago.
Ethereum and Ripple, the No. 2 and No. 3 virtual currencies, tumbled after reports South Korea and China could ban cryptocurrency trading, sparking worries of a wider regulatory crackdown.
"There is a lot of panic in the market. People are selling to try and get the hell out of there," said Charles Hayter, founder of Cryptocompare, which owns cryptocurrencies.
"You have more regulatory uncertainty ... and because of these falls, you have these other fallouts," he said, referring to the collapse of some cryptocurrencies in the recent slump in prices.
Analysts at Citi said on Wednesday bitcoin could halve again in value amid the current rout, adding that a possible fall to a range between $5,605 and $5,673 "looks very likely to be very speedy".
With South Korea, Japan and China all making noises about a regulatory swoop, and officials in France and the United States vowing to investigate cryptocurrencies, there are concerns that global coordination on how to regulate them will accelerate.
Officials are expected to debate the rise of bitcoin at the upcoming G20 summit in Argentina in March.
"Cryptocurrencies could be capped in the current quarter ahead of the G20 meeting in March, where policymakers could discuss tighter regulations," said Shuhei Fujise, chief analyst at Alt Design.
A Rollercoaster Month for Bitcoin -http://reut.rs/2DHtz2Q
REVERSAL OF FORTUNES
The current rout in bitcoin and other digital currencies was a far cry from their dramatic run-up in 2017 when mainstream investors jumped on the bandwagon and as an explosion in so-called initial coin offerings (ICOs) - digital, token-based fundraising rounds - drove demand.
"Bitcoin is deciding whether this is the moment to crash and burn," said Steven Englander, head of strategy at New York-based Rafiki Capital.
Bitcoin has plummeted before.
There have been nine instances including the current selloff going back to 2011 where bitcoin's price was halved on the Bitstamp exchange. The last time was from November 2014 to January 2015.
On Wednesday, bitcoin fell as low as $9,222 on Bitstamp, its lowest price since Dec. 1, as CBOE and CME bitcoin futures tumbled to contract lows.
The latest market losses stemmed from reports that South Korea's finance minister said banning trading in cryptocurrencies is still an option and that Seoul plans a set of measures to clamp down on the "irrational" cryptocurrency investment craze.
Separately, a senior Chinese central banker said authorities should ban centralized trading of virtual currencies as well as individuals and businesses that provide related services.
"My conjecture is that cryptocurrency holders are trying to decide whether to abandon bitcoin because its limitations mean it will be superseded by better products or bet that it can thrive despite them," Englander said.
BUBBLE BURST?
While many observers say the recent falls show that the bubble has burst, those backing the nascent markets say that regulation is welcomed and wild price swings to be expected.
"The volatility of bitcoin - and other cryptocurrencies - is an expected, and important, part of the journey to becoming a mature asset class. We expect the volatility to continue throughout 2018 but fundamentally believe that bitcoin is still in a bull market," said Christopher Keshian, co-founder of $APEX Token Fund.
Ethereum, the second-largest cryptocurrency by market value, was down 15 percent since Tuesday, according to website CoinMarketCap.
Ripple, the third-biggest, has lost 18 percent of its value over the past 24 hours and was quoted at $1.03, down from a high of $3.81 on Jan. 4.
"The run-up in bitcoin created a mystique of one-way trading which is being shaken, but the pricing requires faith that there will always be demand," Englander wrote in a research note. "This is far from guaranteed given the existence of alternatives with better characteristics."
(Reporting by Tommy Wilkes in London and Hideyuki Sano in Tokyo, Writing by Vidya Ranganathan and Tommy Wilkes; Additional reporting by Ritvik Carvalho in London and Richard Leong in New York; editing by Mark Heinrich and Nick Zieminski) || 15 Interview Questions You Should Be Prepared to Answer This Month: No matter how many you go on, job interviews can always be nerve-wracking. You put on yournicest clothes, print out your resume, and remind yourself to smile real big -- and just when you think everything is going well, the interviewer hits you with acurveball questionyou aren't prepared for.
Luckily, you're not going to let that happen again and you're planning ahead toace this month's interview. The best way to prepare for anything is to do your research ahead of time -- which is why we're here to help.
If you're preparing for a big interview in the New Year, prepping beforehand with these 15 interview questions will help you get one step closer to that dream job.
Image source: Getty Images.
Most interviews start with this question, and how you answer it will make your first impression. If you stumble over the answer and aren't quite sure what to say, your lack of confidence in yourself is showing. If you start listing all your greatest accomplishments and talk too much, your ego might look a little too big. You need to find a good balance between being confident, but not pretentious.
The best way to prepare for this question is to prepare anelevator pitchabout who you are. Skip your personal history and give about two to three sentences about your career path and how you ended up in this interview. You don't need to be too detailed; there are plenty more questions coming. You just want to leave enough curiosity that the interview becomes excited to learn more about you.
When a hiring manager asks this question, not only do they want to know why you want to work for them, but they also want to know what you know about the company. This question tests how well you know what the company does and how passionate you are about the work they do -- so make sure you know the company well and can speak truthfully about your desires to work there.
When asked this during an interview, don't just say you heard about the job on a website. This is your opportunity to go into more details about why you love this company and what motivates you to want to work there. Moreover, if you have a personal connection at the company, this would be a good time to mention their name!
Everyone has something on their resume that they're really proud of. Whether it's a skill or achievement you've listed or a specific place you worked at, consider answering this question with the most interesting thing on your resume. Plus, don't just say something relevant to your most recent position -- you're already going to be asked about that. Instead, think back to one of the older positions listed on your resume and talk about how that job helped you grow into the person you are today.
This question might seem innocuous, but this is how interviewers weed out the people who are either a) just looking for any job b) were fired from their last position or c) might have a high turnover rate, meaning you won't be sticking around for too long. Focus on the positives and be specific. Think about why you are looking for a job: did you just graduate and this will be your first real job? Are you switching career paths? Are you leaving a current job for this one?
If you are currently working somewhere, you should also be prepared to answer, "why do you want to leave your current job for this one?"
When asked this question, keep in mind that the recruiter is looking to hear what skills you have that you're going to bring to the team. Don't give a vague answer, such as, "I'm friendly and a hard worker." Instead, be specific, summarize your work history and achievements, and use numbers when possible.
For example, state how many years of experience you have or name some of your accomplishments at your last company. The more specific you can be about what your skills are and how valuable of an employee you are, the better the interviewer will be able to picture you working there.
This can seem like a heavy question during an interview, especially when you haven't prepared for it ahead of time. Keep in mind that you're in an interview setting -- so you don't need to go into all the details about what your personal life goals are for the next five years. Focus on your career goals and be realistic.
If you plan to work at this company for five years, make sure you understand who would be working above you and what potential career growth there is. The hiring manager asks this questions to find out if you set realistic goals, if you are ambitious, and to confirm that the position you are interviewing for aligns with these goals and growth.
If this position isn't exactly a job with a lot of future opportunities, you can simply answer this by noting that you are not certain what your future is going to look like, but that you believe this position is going to help you navigate yourself in the right direction.
This question is important to ace because it helps an interviewer understand how you deal with conflict. It also helps test how well you think on your feet -- so if you prepare ahead of time with a specific example, you'll avoid the awkward moment of silence while you try to think of an example.
Once you have an example in mind, simply explain what happened, how you resolved the issue in a professional manner, and try to end the story with a happy note about how you reached a resolution or compromise with your co-worker.
Similar to the "where do you see yourself in five years" question, the interviewer is looking to understand how realistic you are when setting goals, how ambitious you are, and whether or not the job and company will be a good place for you to grow.
Again, try to set aside your personal goals (don't say your dream job is to be paid to take Instagram photos) and focus on your career goals. Think about how this job is going to set you up for the future and get you closer to your dream job. But, don't be that person who says, "to be CEO of this company."
This question is meant to understand how you work on a team and whether you will be the right cultural fit for the company. To prepare for this answer, make sure you research the company ahead of time. You can always tell a little bit about a what a company's culture is like by looking through their social media profiles or reading their reviews on Glassdoor.
Again, the hiring manager is looking to understand what kind of employee you would be and whether you will be a good fit to add to their team. In some interviews, your future manager might be interviewing you. Answer this question as honestly as possible, and pull examples from your current manager if you can show how they help you work better.
Answering this question will help hiring managers identify any potential red flags you might have. You want to show that you can handle stress in a professional and positive manner that helps you continue working or won't stop you from accomplishing your goals. Moreover, be specific and explain what you actually do to deal with stress, like taking a 15-minute break to take a walk outside, or crossing items off on a to-do list, etc.
This question helps a company understand what you will get done in your first month in the position, and how you answer it will signal whether or not you're the right person for the job. Start by mentioning what information you would need to get started and what would help you transition into the new role. Then focus on your best skills and how you would apply those to this position right away.
Some interviewers ask this question, others don't. It's always better to be prepared, especially because you want to make sure you would be paid a fair wage for the value you are going to add. That's why Glassdoor built theirKnow Your Worthtool to help you determine what you should be paid.
Note: While employers can ask what your salary expectations are, incertain placesit is illegal for them to ask what your previous salary was.
The last question you will always be asked during an interview is whether or not you have any questions for the interviewer. This is your chance to really stand out–so don't blow it by saying you don't, or that your questions have already been answered. Even if you don't have any questions -- there's always aquestion you can ask at the end of an interview.
Keep a list of at least three to five questions in the back of your mind so that no matter what, there are at least two questions you have to ask at the end of the interview. Recruiters say that actually enjoy getting to answer some questions at the end of an interview -- they did just listen to you talk about themselves, so ask about them for a change. Once this part is over, you can rest easy and walk out of the interview knowing you aced it!
This articleoriginally appearedon Glassdoor.com.
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The Motley Fool has adisclosure policy. || Ethereum Leads the Way in the Face of South Korean Adversity: It was a tough start to the week for Bitcoin, which stumbled from a weekend high $17,234.99 to an intraday low $13,900 before recovering to close the day at 15,179.68 on Monday. Weve talked about regulatory risk being the key driver for the markets, following the impact of South Korean government chatter on the cryptocurrencies late last year. Monday was no different and the effects were certainly evident, with losses seen across the board, with one exception, Ethereum that has appeared to shift a gear through the first week of the year and manage to hold on to $1,000 levels whilst those around sit well below record highs. At the time of writing, Ethereum was up 6.41% to $1,209.92, with the doom and gloom of yesterdays news seemingly having little long-term effect on appetite for a currency that had given up the number 2 spot, albeit for a very short period of time. Perhaps good news for investors this morning has been a bounce back by the Bitcoin clan, with Bitcoin up 1.37% to $15,204.98 at the time of writing, recovering from an intraday low $14,816.87 hit earlier in the day. We will expect Bitcoin to be the markets litmus test for risk appetite this week as investors grapple with the South Korean governments chatter on regulation, with the markets likely to have been a little too sensitive to the comments. Even for cryptocurrencies where South Korean investors account for the largest trading volumes, such as Zcash, there has been on the bounce this morning, which supports the view that the currencies may have been oversold on Monday. Volatility is certainly significantly greater than the more traditional asset classes and with it, the bad news swings continue to be more significant. Mondays declines looks to have provided investor opportunity rather than deliver a more significant blow to the markets, though it remains too early to say what the eventual outcome of all of the increased oversight will be and what effect they will have on overall volumes. Story continues Barring any further negative chatter, the currencies are likely to remain in recovery mode, while Ethereum rallies in what has been an impressive response to Ripples challenge. Suggested Articles How Blockchain will Change our Life, Economy and the World How to Buy Stellar Lumens? What is IOTA and How Can you Buy it? This mornings Bitcoin recovery that has provided much needed support to the broader market, comes off the back of a rebound in the futures market. The Cboe futures contract for January had hit an intraday low of $14,560, before recovering to $15,040 at the time of writing. In contrast to the January contract gains through the early part of the day, both February and March expiries on the Cboe futures exchange were in the red at the time of writing, with Februarys contract down $70 to $14,900. The ranges are particularly narrow in spite of the degree of uncertainty that has pressured the cryptomarkets this week and that should be considered a positive. Whether Bitcoin can find its legs through the remainder of the day remains to be seen, but one thing looks certain and that is Ethereum staying on the front foot, as it continues to fight off the competition and defy gravity. Buy & Sell Cryptocurrency Instantly This article was originally posted on FX Empire More From FXEMPIRE: Tuesday Support and Resistance Levels January 09, 2018 Commodities Daily Forecast January 9, 2018 EUR/USD Mid-Session Technical Analysis for January 9, 2018 Price of Gold Fundamental Daily Forecast Dollar Rebound Pressuring Gold Prices EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook January 9, 2018 USD/JPY Fundamental Daily Forecast Yen Spikes Higher as Bank of Japan Trims Bond Purchases || 3 Top Chip Stocks to Buy in 2018: The semiconductor industry was on a roll last year thanks to rising demand for chips across industries such as smartphones, the Internet of Things, and data centers. Not surprisingly, the PHLX Semiconductor Sector index, which tracks the performance of major names in this space, shot up almost 40% in 2017.
And demand for chips is expected to keep rising this year. So, it won't be surprising ifMicron Technology(NASDAQ: MU),NVIDIA(NASDAQ: NVDA), andSkyworks Solutions(NASDAQ: SWKS)deliver more upside in 2018.
Image Source: Getty Images.
Micron Technology makes dynamic random access memory (DRAM) and NAND memory chips that are used in smartphones, PCs, automotive, and other applications. The chipmaker hasenjoyed impressive gainsover the past year, as the prices of NAND and DRAM memory have shot up because of rapidly growing demand and weak supply growth.
Fortunately for Micron, the trend of strong memory pricing is set to continue in 2018 because of strong demand. IHS Markit forecasts that DRAM sales could hit $85 billion this year, a jump of almost 17% from 2017. Additionally, NAND flash memory sales could rise 10% to $59.2 billion.
Micron gets 67% of its revenue from the DRAM segment, while NAND flash accounts for 27% of its total sales.
Industry watchers expect DRAM supply to remain tight throughout the year. Any potential increase in supply will go toward meeting newly created demand from data center expansion and higher DRAM content in smartphones, giving Micron's bottom line a solid boost.
Analyst estimates compiled by Yahoo! Finance forecast that Micron's earnings per share in fiscal 2018 could increase to $9.74, from $4.96 in the preceding year. But what's more important to note is that its earnings could grow at 27% a year for the next five years, making Micron a top semiconductor pick considering that it trades at a price-to-earnings (P/E) ratio of just 7.
NVIDIA was a big winner in 2017. Shares of the graphics specialist rose more than 80% in 2017 as itconsolidated its leadin the burgeoning GPU (graphics processing market). It currently commands almost 73% of the GPU space, which bodes well for the long run given the massive expansion expected in this market.
According to Allied Market Research, the global GPU market will grow at a compound annual growth rate (CAGR) of 35.6% through 2022 thanks to their application in areas such as artificial intelligence (AI) and augmented reality (AR). So, NVIDIA could win big from the rapidly growing GPU market provided it can defend its position.
The good news for NVIDIA investors is that it looks well-placed to defend its GPU superiority against closest rivalAMD. Last year, AMD had launched its latest Vega GPUs with a lot of fanfare, but theyfailed to pass musteragainst NVIDIA's offerings. More importantly, NVIDIA is making moves to further bolster its position in the GPU space with its new launches.
The company recently launched its Titan V desktop graphics card based on the Volta architecture for artificial intelligence applications. This $3,000-priced GPU isn't meant for hardcore video gaming purposes even though NVIDIA calls it a consumer GPU. The card is intended for scientists and researchers to train AI models even faster, though it does give a glimpse of how the mainstream cards based on this architecture could perform.
NVIDIA claims that the Titan V is nine times faster than its predecessor, Titan Xp, which is based on the Pascal architecture. So, the company can increase its GPU lead over AMD when it launches consumer-centric versions of cards based on Volta. In all, the success of NVIDIA's current and upcoming graphics cards for gaming and AI applications should lead to robust top- and bottom-line growth not just in 2018, but also in the long run.
NVIDIA, however, is the most expensive of the three stocks discussed here, by a wide margin. Its trailing P/E ratio of 54.6 easily eclipses the 26.1 industry average. Moreover, NVIDIA isn't cheaper on a forward P/E basis either, with a ratio of 43.3.
But what makes NVIDIA a good bet despite a steep valuation is that it isn't dependent on a few select customers (as in the case of Skyworks) or pricing cycles (the case at Micron) for growth. As already mentioned, NVIDIA has a strong command in GPUs that it is unlikely to yield, and this is allowing it to tap the growing application of these chips in fast-growing markets such as data centers and automotive.
NVIDIA deserves the premium it carries because it is the leader in a rapidly growing GPU market.
Skyworks Solutions makes chips that enable connectivity across a wide range of applications, including smartphones, connected cars, and the Internet of Things. Its notable customers include smartphone giants such asApple(accounting for 40% of the total revenue),Samsung, and popular Chinese smartphone makerHuawei.
The company has recently started making waves in the Internet of Things space, with its non-mobile revenueincreasing 22%year over year last quarter to $256 million. This impressive growth was a result of Skyworks' growing traction in lucrative and fast-growing end markets such as smart speakers, smart homes, smartwatches, and automotive.
Skyworks, for instance, is supplying chips forFitbit's new watches, and has recently scored wins at drone market leader DJI. Additionally, it is supporting smart-home systems fromBoschandCisco, targeting markets such as smart lighting and home security.
These efforts should help Skyworks increase its non-mobile revenue. On the other hand, its partnerships with the smartphone companies mentioned above will boost its core mobile business, which supplies 64% of the total revenue.
Huawei, for example, is using $9 worth of Skyworks' chips in each of its Mate 10 smartphone. This is great news for the chipmaker as Huawei is looking to enter the U.S. smartphone market this year.
So, Skyworks enjoys a host of catalysts across several industries. More importantly, investors can get into this stock at a cheap valuation. Skyworks has a trailing P/E ratio of 18.5, well below the 25.9 industry average. A forward P/E ratio of 13.7 indicates that analysts are expecting a bump in its bottom line in the future, making it a good choice for investors looking for growth at a reasonable price.
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Harsh Chauhanhas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Apple, Fitbit, Nvidia, and Skyworks Solutions. The Motley Fool has the following options: long January 2020 $150 calls on Apple, short January 2020 $155 calls on Apple, and short January 2018 $105 calls on Skyworks Solutions. The Motley Fool recommends Cisco Systems. The Motley Fool has adisclosure policy. || YouTube Could Be a $15 Billion Business This Year: Alphabet(NASDAQ: GOOG)(NASDAQ: GOOGL), the parent company of Google, owns a small video-streaming site known as YouTube. Alphabet's management loves to talk about YouTube, but it only occasionally provides any real details about the massiveness of the platform.
The best information we have right now is that YouTube has1.5 billion monthly users, who stream an average of over 1 hour of video per day.
But the random tidbits Alphabet likes to provide about it never get to the heart of what investors really want to know: How much money is it making?
R.W. Baird analyst Colin Sebastian thinks YouTube could generate $15 billion this year, as reported byBusiness Insider. That would amount to well over 10% of Google's total advertising revenue. The thing is, that number might actually be conservative.
Image source: Getty Images
With 1.5 billion monthly users, $15 billion in revenue would equate to just $10 per year in average revenue each. For reference,Facebook(NASDAQ: FB)reported an average revenue per user of almost $20 last year. EvenTwitter(NYSE: TWTR)generated about $6.40 per user on its platform in 2017, when was it overhauling its advertising business.
Television broadcasters in America and Western Europe generate $0.23 (in total revenue) per person-hour of viewing. At a rate of an hour per day, that's about $84 per year. Is an hour of television really that much more valuable to advertisers than an hour of YouTube viewing?
YouTube has stronger engagement than either Facebook or Twitter. Facebook last reported its users spend an average of 50 minutes a day across Facebook, Instagram, and Messenger. Twitter doesn't say how much time its users spend on its app, but most analysts suspect that's because the figure would be embarrassingly low compared to the competition. TV still dominates our time, but consumers are watching less of it as they spend more time with alternatives including YouTube.
Considering Google's ad technology and targeting capabilities, it's entirely possibly that YouTube generates revenue somewhere between Twitter and Facebook on a per-user basis. In the long run, YouTube's monetization levels could even grow to levels comparable with television as it attracts more big advertising budgets from television and grows itssubscription service.
Baird thinks it's only a matter of time before Alphabet reveals YouTube's financial results in order to give investors a clearer picture of its operations.
YouTube's growth has put downward pressure on Google's average ad pricing for several years now. "The decrease in cost-per-click was primarily driven by continued growth in YouTube engagement ads" has become a common refrain in every Alphabet earnings release. Last quarter, the average cost-per-click on Google properties declined 16% year over year.
Google bowed to pressure from investors two and a half years ago when it announced therestructuring that turned it into Alphabet, splitting out Google's operations off from its moonshots. With the size and impact of YouTube, Baird might be right to think Alphabet will split out YouTube. (He also thinks it will split out its cloud computing operations as well.)
Breaking out YouTube's results could be beneficial for Alphabet stockholders, as it would clarify just how valuable the property is. And if it's growing as quickly as analysts believe -- UBS's Eric Sheridan thinks it could generate $27 billion in annual revenue by 2020 -- it's worth quite a bit.
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Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors.Adam Levyowns shares of Alphabet (C shares) and Facebook. The Motley Fool owns shares of and recommends Alphabet (A shares), Alphabet (C shares), Facebook, and Twitter. The Motley Fool has the following options: short March 2018 $200 calls on Facebook and long March 2018 $170 puts on Facebook. The Motley Fool has adisclosure policy. || If I Could Only Buy 1 Stock, This Would Be It: Five. Trillion. Dollars. Over the past twelve reportable months, that's how much Americans have spent on retail purchases. Imagine if one company could skim a little bit off of every one of those purchases by offering a way to make the whole process of retail easier. Something as low as a 2% cut on that enormous sum would still yield $100 billion in revenue. Businessman resting on a chair and faucet from which the money flow Imagine sitting back and collecting such taxes. Image source: Getty Images Increasingly, that's what I'm coming to believe is in the cards for Amazon (NASDAQ: AMZN) , and it's why if I could only choose one stock to own this would be it. A moat wider than many think As recently as 18 months ago, I identified Alphabet as the "one stock" I would own if I could only choose one. Then I came upon Ben Thompson's brilliant Stratechery blog, which has both free and subscription content. After a stint at Microsoft , Thompson now blogs on everything tech-related. For the longest time, I believed the two most compelling aspects of Amazon were pretty simple to understand: The network of multi-million-dollar fulfillment centers -- numbering 126 domestically and 143 internationally -- could simply not be matched. No one could guarantee lightning fast delivery at such scale without spending decades in the red. The company's mission is to be "the earth's most customer-centric company," and the places that mission could take Amazon are endless. But Thompson's work has convinced me there's even more to the story: while the moat of fulfillment centers is still important, and Amazon's compass will still be guided by that same mission, the effect for investors is simple to understand: there will be an Amazon Tax on a huge portion of spending, both domestically and abroad. The Amazon Tax To understand how this might come to fruition, there are some simple mechanics to digest. Amazon's core business has been -- and will probably remain -- being The Everything Store, a place you can go to purchase anything. Story continues But over time -- as far as investors are concerned-- it is the tools that Amazon builds to help The Everything Store accomplish its mission that will really turbo-charge results. Perhaps the earliest example of this is the aforementioned network of fulfillment centers. When Amazon started, the fulfillment centers only stored and shipped products that Amazon itself was selling. But over time, it became clear no one else had the same scale as Amazon. And if the company allowed third-party merchants to list their wares on Amazon and pay for the company to take care of all fulfillment services -- storing, packing, and delivering them to customers -- then Amazon would be getting paid for a service it was already having to perform for its own core business. Thus was born Fulfillment by Amazon (FBA) -- which is thriving . The Amazon Tax -- extended to AWS Let's use Amazon Web Services (AWS) -- the company's cloud platform -- as a further example. When Amazon started growing at the turn of the Millennium, the company was constrained by having to funnel all IT projects through a single department. Making the tools of AWS available to everyone in the company was the solution. It de-bottle-necked IT at Amazon. Not just anyone could undertake such an expensive project. Amazon, however, could justify spending billions -- it helped make Amazon.com run smoother. But those same investments also became a play outside of Amazon: by offering up the platform for anyone else to use, the company turned something it had initially built for itself into a money-making machine that others could use. The results speak for themselves. Metric 2015 2016 2017 AWS Operating Profit $1.5 billion $3.1 billion $4.3 billion Percent of Company Operating Profit 67% 74% 105% Data source: SEC filings Keep in mind that sales from AWS have never surpassed 10% of all company sales. And yet, because of the high-margin nature of the service -- because of scale -- it is helping to fund all other initiatives. As Thompson writes: Amazon may have started as..."The Everything Store," but its future is to be a tax collector for a whole host of industries that benefit from the economies of scale. Future disruption It won't end with FBA or AWS. Remember, the company's guiding principle is to be the most customer-centric company the earth has ever seen. Already, we have hints about the next industries to be disrupted: Amazon, the parent company, may soon provide delivery services the world over. Amazon, the parent company, may soon provide healthcare solutions for a large swath of Americans. I wrote "the parent company" because there's a key dynamic at play throughout: Amazon can justify spending so much on fulfillment centers, and AWS, and delivery, and healthcare, because, as Thompson writes, the "first and best customer" of each one of these solutions is Amazon's e-commerce business. An Amazon delivery drone Image source: Amazon Delivery makes sense because the e-commerce division needs to deliver packages. But why not take that solution and scale it out indefinitely so others can benefit -- and you get a cut of the transactions -- as well? Healthcare makes sense because Amazon employs 566,000 people. When you include the families covered under these plans, that could amount to healthcare for over one million people. If Amazon can build out a system to lower costs, that helps Amazon. And if it can offer that same solution to the rest of the country -- and take a cut -- all the better. In the end, Amazon has simply reached a scale where it can continue to develop more and more solutions for its internal needs, and then offer those solutions to the rest of the world once they're perfect. Few companies have the same scale and experience to risk such ventures. That's an advantage I want a piece of, and it helps explain why I'm comfortable with Amazon making up over 20% of my real-life holdings. 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. Brian Stoffel owns shares of Alphabet (A shares), Alphabet (C shares), and Amazon. The Motley Fool owns shares of and recommends Alphabet (A shares), Alphabet (C shares), and Amazon. The Motley Fool has a disclosure policy . || What Happened in the Stock Market Today: The stock market rallied on broad-based strength on Tuesday, with both theDow Jones Industrial Average(DJINDICES: ^DJI)andS&P 500(SNPINDEX: ^GSPC)clawing back to within 4% of their all-time highs set a month ago. When all was said and done, the two major market indexes had climbed 1.6% and 1.2%, respectively.
[{"Index": "Dow", "Percentage Change": "1.58%", "Point Change": "399.28"}, {"Index": "S&P 500", "Percentage Change": "1.20%", "Point Change": "32.30"}]
Data source: Yahoo! Finance.
Tech stocks led the way, with theTechnology Select Sector SPDR Fund(NYSEMKT: XLK)up 1.6%. But industrials weren't far behind, as theIndustrial Select Sector SPDR(NYSEMKT: XLI)fund jumped 1.4%.
As for individual stocks,Berkshire Hathaway(NYSE: BRK-B)(NYSE: BRK-A)stood tall as one of the S&P 500's top gainers following encouraging commentary from CEO Warren Buffett. On the other hand, a notable analyst downgrade leftMattel(NASDAQ: MAT)stock reeling.
Image source: Getty Images.
Shares of Mattel initiallyplunged as much as 8.6%early today, then partially recovered to close down 3.4% after analysts at Jefferies Group downgraded shares of the toys and games specialist to underperform from hold. Curiously, Jefferies alsoincreasedits per-share price target on Mattel to $13 from $12.50.
To justify its opinion -- and keeping in mind shares hadrallied almost 9%this month in spite of disappointing holiday-quarter result from Mattel -- Jefferies stated that the company's ongoing turnaround is likely already priced into the stock, noting it faces "challenging industry conditions" and steep competition.
If that wasn't enough, on Friday credit-rating agency Fitch dropped Mattel's long-term issuer default rating by two notches to B+ from BB, arguing the Barbie and Fisher Price owner has suffered from its "inability [...] to effectively respond to evolving play patterns and ongoing retail challenges," particularly given the bankruptcy of Toys R Us late last year.
To be fair, Mattel has moved to aggressively improve its financial position, with operational efficiency and expense-reduction initiatives targeting $650 million of cost savings in the coming years. Mattel has also struck new partnerships with companies including China-basedAlibabaand computing platform Tynker to expand the reach of its brands and better monetize intellectual property.
It will take time, however, for those efforts to yield more tangible fruit. And given increasing skepticism for Mattel's prospects on Wall Street, it's no surprise to see the stock pulling back today.
Meanwhile, Class B shares of diversified financial holding company Berkshire Hathaway jumped 3.9% today after its CEO (and famed investor) Warren Buffett offered aslew of reasons to be optimisticfor its future in his annual letter to shareholders.
For one, Buffett says, Berkshire faces the enviable problem of finding the best ways to put its $116 billion cash pile to use. Berkshire has historically preferred to use its cash hoard for strategic acquisitions, which would add to its already enviable list of subsidiaries, including GEICO, General Reinsurance, Burlington Northern Santa Fe, Duracell, Dairy Queen, Fruit of the Loom, and dozens of other well-known brands.
But it's increasingly difficult to meet Berkshire's strict criteria for making such purchases at an astute price. As such, Buffett teased that Berkshire Hathaway wouldnotbe opposed to repurchasing its own stock at the right price.
Finally, in aninterviewwith CNBC today, Buffett reminded investors that the recent reduction of the federal corporate tax rate from to 21% from 35% is a "huge tailwind" for companies in the U.S. This means that Berkshire's already massive cash hoard will only continue to grow.
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Steve Symingtonhas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Berkshire Hathaway (B shares). The Motley Fool is short shares of Mattel. The Motley Fool has adisclosure policy. || Why CSX, Teva Pharmaceutical Industries, and Marathon Oil Jumped Today: After last week's roller-coaster ride, investors were hoping to see a bounce, and that's exactly what they got in the form of a 400-point rise in theDow Jones Industrialson Monday. Major benchmarks were all up around 1.5% to 1.7% in the wake of a relatively uneventful weekend and the release of information about the Trump administration's infrastructure proposal. Some stocks did even better, andCSX(NASDAQ: CSX),Teva Pharmaceutical Industries(NYSE: TEVA), andMarathon Oil(NYSE: MRO)were among some of the top high-profile performers on the day. Here's why they did so well.
Shares of CSX rose almost 4.5% after the railroad company announced increases to its dividend and stock repurchase program. Shareholders will receive $0.22 per share in dividends on a quarterly basis beginning in March, which works out to about a 1.6% dividend yield based on share prices after the jump. CSX also announced an increase in its share repurchase program to $5 billion, which it intends to complete by the end of the first quarter of 2019. Given that the buyback is about 10% of its current market capitalization, CSX is doing a lot to return capital to shareholders at a time during which investors are still getting over thetragic death of former CEO Hunter Harrison.
Image source: CSX.
Teva Pharmaceutical Industries stock picked up more than 3.5%, bouncing back from extensive losses last week after the generic-drug maker reported less-than-stellar earnings late last week. The company received a positive view from analysts at Credit Suisse, which upgraded the stock from neutral to outperform and boosted its price target on the stock by 15% to $23 per share. Despite questions about its guidance for the coming year, Teva could reach its restructuring goals more quickly than many anticipate, in Credit Suisse's opinion. If Teva can overcome headwinds from generic competition and execute well in achieving its business goals, then the stock's gains today could be the beginning of a larger trend.
Finally, shares of Marathon Oil climbed 5%. The energy company's investors reacted favorably to a slight bounce in the price of crude oil, which had moved sharply lower last week. Marathon is due to announce its earnings later this week, and investors are hopeful that the company will be able to keep overcoming some of the difficulties in maintaining production that have plagued the entire industry lately. If key holdings in the Bakken shale region of North Dakota and the STACK play in Oklahoma keep doing well, thenMarathon should be in good shape to keep up its winning waysregardless of whether it reinvests in new growth opportunities or uses profits to improve its balance sheet.
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Dan Caplingerhas 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)]
The rates don't mean much to me... There is more people that phoned me today to buy $BTC than there was during the bull-run, and there was alot! #BTFD || 2018-03-04 06:00:05 UTC
BTC: $11226.08
BCH: $1244.66
ETH: $847.43
ZEC: $392.59
LTC: $207.96
ETC: $28.99
XRP: $0.8921 || 0.05BTC --> 20BTC We need Just a Week
Join : http://t.me/Monsterpumper
$BTC $ETH $NEO $XLM $XRP $ADA $EMC2 $OMG $BCC $VTC $AEON $ZEC $GLD $ENRG $UNB $SLR $POWR $MER $VIB $RCN $TIX $SALT $MANA $ADA $DNT $BCC $QTUM || Sea como sea, los que en Diciembre decían que el Bitcoin no bajaría, son los mismos que dicen que a final de 2018 estará por los 30k€. Pero no compra nadie. Qué raro. Llegáis tarde peña. Llegáis tarde. || BTC: $14122.31, S: $17.00, G: $1,311.35 | Act: 22,234 Open: 5570 BTC: 48,049.4 | Total: $678,575,121 http://goo.gl/U94Tki #bitcoin || The purpose of this monograph is to examine whether the Principles http://bit.ly/1NH2GgU #Cybersecurity #Bitcoin pic.twitter.com/7fDuhVc6PX || REGISTRATIONS OPEN NOW!
Binance
Bittrex
Kucoin
Still not registered at the #1 volume ranked crypto exchange, Binance?
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$ELF | $KIN | $BTC | $ZIL | $DOGE | $WTC | $EMC | $LRC | $KCS | $QASHpic.twitter.com/5XuL3erN1C || Криптовалюта TRON: полное руководство для инвестора https://goo.gl/ZpxQKg #биткоин #bitcoin #биткойнpic.twitter.com/3sMxsFAJEy || $72 arb between itbit and bitstamp #bitcoin #bitcoinprice || http://bit.ly/1RJEF7G #Cybersecurity #Bitcoin
|
Trend: down || Prices: 8866.00, 9578.63, 9205.12, 9194.85, 8269.81, 8300.86, 8338.35, 7916.88, 8223.68, 8630.65
|
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 2020-01-31]
BTC Price: 9350.53, BTC RSI: 67.04
Gold Price: 1582.90, Gold RSI: 70.53
Oil Price: 51.56, Oil RSI: 21.69
[Random Sample of News (last 60 days)]
Bitcoin: Big Market Shift Dead Ahead: In financial markets, it’s rarely possible to know, in advance, precisely when a major event will impact supply and demand — let alone how or where.
But in one particular asset and one particular point in time, it does happen.
I’m talking about ...
The Bitcoin halving — the immediate, inevitable and irreversible 50% reduction of new Bitcoin supply that is firmly slated for May of this year.
At regular intervals, currently about every four years, the rate at which new BTC coins are created gets cut in half.
The goal is to gradually shrink new coin creation down to zero — which will occur as the total number of BTC in circulation hits its cap of 21 million.
So, here’s how that works ...
New Bitcoins are created to reward miners for their work in validating new transactions and adding them to the Bitcoin ledger.
When Bitcoin was brand-new, miners earned a reward of 50 BTC for every new block they wrote to the blockchain. But ...
• In November 2012, that number was cut by half, to 25 BTC.
• In July 2016, it was halved again — to 12.50 BTC.
• And starting this coming May, it will drop to 6.25 BTC.
This is the “halving” of Bitcoin. And as you can see, it happens approximately every four years.
But here’s the key:In both historical cases, the halving occurred just as Bitcoin was recovering from a prior bear market.
• The 2012 Bitcoin halving followed a prior bear-market low (November 2011) by 12 months;
• The 2016 halving Bitcoin followed the prior bear market's double-bottom (January and August 2015) by 19 months and 11 months, respectively; and
• Next year's halving is due 18 months after Bitcoin's December 2018 bear-market low.
Given our in-depth study of Bitcoin cycles, this aspect merits a closer look. Broadly speaking ...
After the first major leg up of a new bull market, Bitcoin often drifts into a relatively sleepy, sometimes months-long interval of sideways trading. Then comes a halving event — after which, the bull market really catches fire.
Now, let's take a look at how the price action surrounding Bitcoin's historical halving events traces this pattern.
The Bitcoin Halving Of 2012
Here’s exactly what happened in the 12-month period prior to the halving ...
• In the first four months of that 12-month period, Bitcoin climbed a robust 1.29% per day (on average), as it rebounded from its prior bear-market low.
• However, in the eight months immediately prior to the halving, Bitcoin fell into a sideways trading range, during which it managed to climb by an average of just 0.62% a day.
Then, AFTER the halving, Bitcoin shot up a whopping 23% a day (on average) — until it finally reached its bull-market high.
Bitcoin Takes off Like a Rocket After Halving of 2012
In the chart above, reading from left to right ...
• The first blue arrow points to Bitcoin's initial leg up, as it rebounded from its previous bear-market low.
• The shaded rectangle points to the sleepy, pre-halving consolidation period that followed.
• After that period, the next blue arrow points to a spirited rally in anticipation of the halving, followed by a brief return to sideways trading.
• Finally, as you can see in the chart, it’s only after halving that the 2012 bull market really blasts off.
The Bitcoin Halving Of 2016
Here’s what happened in the 12-month period prior to the 2016 halving. As you will see, the pattern mimics the 2012 experience.
• In the first four months of that 12-month period, Bitcoin climbed by an average 0.84% per day, as it emerged from its prior bear-market low.
• Then, in the eight months immediately prior to the halving, Bitcoin again fell into a sideways trading range, during which it managed to climb by an average of only 0.39% per day.
And AGAIN, after the halving, the Bitcoin bull market abruptly caught a second wind. Bitcoin powered up by an average of 5.41% per day.
Bitcoin Surges to All-Time Highs After Halving of 2016
This second chart illustrates how the pattern is similar in the second halving, which occurred in July 2016. Reading the chart from left to right ...
1. The first blue arrow shows Bitcoin's first major leg up, as it recovered from its previous bear-market low.
2. Again, the shaded rectangle demarcates the sleepy pre-halving consolidation period that ensued.
3. After that period, the next blue arrow points to a rally in anticipation of the event. In this case, the pre-halving rally is especially exuberant. So, it’s followed by a setback.
4. But again, in the months that follow, Bitcoin explodes in price, ultimately reaching its all-time high in December 2017.
In both cases, a breakout into a new bull market is followed by a pre-halving consolidation. And in both cases, the post-halving portion of the bull market is the strongest of the entire cycle.
Now the big question is: Will this pattern repeat itself in 2020 and beyond? Will the halving coming this May mark the beginning of another spectacular rise in Bitcoin? And what would be the best strategy for profiting from that move?
Stay tuned for the answers. Before you invest, there are critical wrinkles and risks you will need to be aware of.
Always remember: Although the past pattern is clear, history has a sneaky habit of adding some new twists and turns.
Check out Weiss Crypto Ratings and Indexes:https://www.benzinga.com/cryptocurrency/weiss-crypto-ratings/https://www.benzinga.com/cryptocurrency/weiss-crypto-indexes/
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© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || AUD/USD and NZD/USD Fundamental Daily Forecast – Underpinned by Robust Chinese Economic Data: The Australian and New Zealand Dollars are trading higher on Monday as investors react to stronger-than-expected economic data from China, while continuing to digest the trade deal between the United States and China that was announced on Friday. There is some uncertainty over the details of the trade agreement which may be limiting gains. Furthermore, traders are exhibiting caution ahead of key domestic reports later this week.
At 10:08 GMT, theAUD/USDis trading .6883, up 0.0007 or +0.10% and theNZD/USDis at .6608, up 0.0017 or +0.26%.
Growth in China’s industrial and retail sectors beat expectations in November, as government support propped up demand in the world’s second-largest economy and amid easing trade hostilities with Washington.
Industrial Production rose 6.2% year-on-year in November, data from the National Bureau of Statistics showed, beating the median forecast of 5.0% growth in a Reuters poll and quickening from 4.7% in October. It was also the fastest year-on-year growth in five months.
Retail sales rose 8.0% year-on-year in November, compared with an expected 7.6%, buoyed by stimulus measures and the November Singles Day shopping extravaganza, the statistics bureau said.
Fixed Asset Investment showed few signs of improvement, growing 5.2% from January-November, in line with the increase seen in the first 10 months, which was the weakest in decades.
Infrastructure investment growth, a key driver of activity, slowed to 4.0% in January-November in the first 10 months.
U.S. and Chinese officials announced on Friday that the two economic powerhouses had reached a phase one agreement after a combative 18-month trade war. The details are a little sketchy, but it looks as if China agreed to billions of dollars in agricultural purchases from the U.S., while U.S. President Trump vowed to not pursue a new round of tariffs that had been scheduled for Sunday. The two major economies plan to sign the partial accord in the first week of January.
U.S. Trade Representative Robert Lighthizer said on Sunday that the phase one U.S.-China trade deal reached on Friday is “totally done,” and it will nearly double U.S. exports to China over the next two years.
Australian Flash Manufacturing came in at 49.4, below the previously reported 49.9. Flash Services PMI was 49.5, slightly below the previously reported 49.7.
Australia’s mid-year budget update showed economic reality is starting to bear down on the government’s finances.
The Australian Treasury lowered its forecast surplus for the 12 months through June 2020 to A$5 billion ($3.4 billion) from April’s budget estimate of A$7.1 billion as it scaled back estimated tax revenues, according to the Mid-Year Economic and Fiscal Outlook released in Canberra Monday. It also predicted narrower surpluses for the following three fiscal years.
Treasurer Josh Frydenberg also cut his forecasts for gross domestic product and wages growth this fiscal year, though dismissed concerns about the slowing economy and resisted calls for additional spending to support growth.
The reaction by the Aussie and Kiwi to the trade deal news has been mixed with many analysts advising caution. Some critics noted several shortcomings in the trade deal that was announced between the world’s two largest economies on Friday. Top among them were a lack of specifics on farm purchase commitments and enforcement mechanisms, a shortage of trust on both sides and U.S. President Donald Trump’s mercurial negotiating style.
These concerns could continue to weigh on gains on Monday. However, the solid economic data from China is likely to underpin prices. Therefore, we could be looking at a sideways trade today.
Furthermore, we could see some position-squaring in the Australian Dollar due to the release of the Monetary Policy Meeting Minutes from the RBA on Tuesday. New Zealand Dollar traders could lighten up their positions in anticipation of the ANZ Business Confidence report.
In the U.S. on Monday, investors will get the opportunity to react to the latest data on the Empire State Manufacturing Index, Flash Manufacturing PMI, Flash Services PMI and NAHB Housing Market Index.
Flash Manufacturing PMI is the major report. It is expected to come in unchanged at 52.6. The Aussie and Kiwi could break if the number is stronger-than-expected. The two currencies could be underpinned by a weaker-than-expected number.
Thisarticlewas originally posted on FX Empire
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• Oil Price Fundamental Daily Forecast – U.S. Supply Will Control Price Action This Week || London-Listed Argo Blockchain Reports 10-Fold Increase in Bitcoin Mining Revenue in 2019: Bitcoin mining firm Argo Blockchain says it took 10 times more revenue in 2019 than in the previous year.
In apress releaseposted on the London Stock Exchange website on Monday, Argo said, for its first full year of operations, it generated £8.5 million (just over $11 million) in revenue, compared with £760,000 ($985,720) in 2018.
The firm listed on the main Market of the London Stock Exchange in August 2018. The figures are unaudited, with the firm expecting to file audited earnings in April.
Related:A Russian Nuclear Plant Is Renting Space to Energy-Hungry Bitcoin Miners
According to the announcement, in Q4 2019, Argo mined 432 BTC – compared with 426 BTC in Q3. The last quarter saw a drop in revenue to £2.66 million, from Q3’s £3.63 million, however.
“The lower quarterly revenue is attributable to a drop in cryptocurrency prices, increased mining difficulty, and unfavourable foreign exchange rates towards the end of the year,” the company said.
Peter Wall, Argo CEO, said:
“Our mining operations continued to generate industry-best mining margin in the last quarter despite a softening in market conditions from the previous quarter. Our state-of-the-art mining platform is performing as expected and with the expansion of our mining network on pace, along with the recent rise with the price of Bitcoin, Argo is well-placed for a strong year ahead.”
Related:Why Harvard Research on a Low-Profit Tezos Attack Matters for Proof-of-Stake
The firm has been ramping up its mining capacity ahead of the reward halving event due in May, and currently has 13,364 devices. That includes 6,375 Bitmain Antminer T17s installed since Jan. 1. Argo said it is “on track” to have another 3,625 T17s up and running by the end of this quarter.
By the firm’s estimates, the full expected capacity of 17,000 miners will see the power it contributes to the bitcoin network rise from 380 petahashes to over 650 petahashes.
A the time of writing, Argo’sstock pricehas risen following the announcement, and was up 3.55 percent at £7.30.
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• Bitcoin Mining Power Hits Fresh All-Time High || Bitcoin’s 9,000,000% Rise This Decade Leaves the Skeptics Aghast: (Bloomberg) -- If in the throes of this bull market’s earliest stages of recovery someone told you to forgo stocks, forget commodities, renounce fixed-income assets and buy an unknown digital token, the first of its kind, and watch it grow beyond your wildest dreams, you’d call them crazy, right?
Emerging out of the ashes of the financial crisis, Bitcoin was created as a bypass to the banks and government agencies mired in Wall Street’s greatest calamity in decades. At first, it was slow to break through, muddied by a slew of scandals: fraud, thefts and scams that turned away many and brought closer regulatory scrutiny. But once it burst into the mainstream, it proved to be the decade’s best-performing asset.
The largest digital token, trading around $7,200, has posted gains of more than 9,000,000% since July 2010, according to data compiled by Bloomberg.
“Bitcoin really captured that wild technology enthusiasm that ‘this time is different,’” said Peter Atwater, the president of Financial Insyghts and an adjunct professor at William & Mary in Williamsburg, Virginia.
The performance over the past 10 years, even with its huge run-up and subsequent mega-crash, leaves all others in the dust. It’s a massive windfall for those who HODL’ed through its ups and downs, even as it continues to provide fodder for get-rich-quick schemes. For some, the never-ending fantasy of continually hitting that payoff still helps to keep Bitcoin’s momentum going.
Nothing else comes even close to beating it. The S&P 500 merely tripled in that period. An index that tracks world markets has more than doubled. Gold is up 25%. Some of the best-performing stocks in the Russell 3000 -- including Exact Sciences Corp. and Intelligent Systems Corp. -- are each up about 3,000%. Those gains pale in comparison to the finance world’s latest -- and one of its most controversial -- marvels.
Partly, the monster return is a reflection of the calculus behind Bitcoin’s jumping-off point: the token wasn’t worth anything when someone named Satoshi Nakamoto launched it on Halloween 2008. Designed as a method of exchange that can be sent electronically between users around the world, it did not have a centralized control network. Bitcoin, instead, is run by a network of computers that keep track of all transactions on the blockchain ledger. For many, that technology was reason enough to buy into the idea.
On the other side of the equation are Bitcoin’s devoted enthusiasts who saw in its technology a promising way to change the global financial system.
“This is the first time that there’s a real separation -- just like church and state -- you have a separation of money and state,” said Alex Mashinsky, founder of Celsius Network, a crypto lending platform. “That’s the innovation, that’s the excitement.”
But Bitcoin was slow to take off, notching its first transaction two years after its creation, when someone used it to buy pizza. Since then, the first-born token’s price has catapulted, doubling many times over, and hundreds of imitators have cropped up -- some with more success than others.
Many of those who got in early stayed faithful, watching as it made its way through a boom and bust cycle unrivaled by almost anything else over the last decade.
At the beginning of 2017, Bitcoin jumped above $1,000. By mid-summer, it had more than doubled. Insanity was unleashed. By year-end, it hovered above $14,000. But as swiftly as it ran up, it fell even faster. By the end of 2018, Bitcoin barely budged above $3,000. Yet shortly after its crash, it embarked on another huge rally, this time reaching as high as $13,800 in the summer of 2019.
“Certainly the numbers are what appeals to investors,” said David Tawil, president of ProChain Capital. “The next 10 years need to be a totally different stage of growth based on totally different factors than the first stage.”
As much as it’s made a fortune for speculators and some thieves, Bitcoin’s survival will rest on further adoption. It’s not being used as a widespread medium of exchange. A few large retailers are accepting payment in Bitcoin but it hasn’t been the large-scale embrace so many had predicted. Scams are still running rampant. Interest is waning and consolidation among large owners is at a higher level than it was during the height of the 2017 bubble, which means that their influence over prices could be increasing.
Projections for the next decade abound. In the 2020s, mass adoption is surely to take off, they say. Blockchain technology will revolutionize and solve every problem in the world. On the other hand, regulatory scrutiny is likely to intensify, with central bankers paying closer attention than ever before.
In the more immediate term, some speculators forecast 2020 might be less fraught with volatility given its upcoming halving, whereby the number of coins awarded to so-called miners who process transactions is cut by 50%. That’s set to happen in May 2020 (the internet is replete with countdown clocks). The coin’s previous cut, about four years ago, coincided with a run-up in its price, pushing many crypto evangelist to believe in a repeat.
To CoinList’s Andy Bromberg, the halving is already priced in. “Maybe it’s been overpriced in and everyone’s bought into this thesis and we see a dip post-halving,” said the firm’s co-founder and president in an interview. “That would not shock me.”
But beyond next year, “Bitcoin is finding its own narrative as digital gold,” he said. “It feels like that narrative is picking up steam and it’s breaking away on its own. I would define success for most crypto assets as doing exactly that.”
To contact the reporter on this story: Vildana Hajric in New York at [email protected]
To contact the editors responsible for this story: Jeremy Herron at [email protected], Dave Liedtka, Randall Jensen
For more articles like this, please visit us atbloomberg.com
©2020 Bloomberg L.P. || Pantera Partner Paul Veradittakit’s Crypto Predictions for 2020: 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. Paul Veradittakit is a partner at Pantera Capital, focusing on venture capital and hedge fund investments. Pantera Capital is one of the earliest and largest institutional investors in digital currencies and blockchain technologies, managing over $500 million. 2019 has been an incredible year for the blockchain and cryptocurrency space – we’ve been through immense market fluctuations, regulatory battles and financial scandals, Senate hearings, and the launches of several key abstractions that enable some really interesting applications. We’ve got some high hopes for 2020 – the innovations we’ve seen in the last year enable a diversity of awesome use cases for crypto, highlight some critical areas for improvement, and represent a huge advancement in the technicality and complexity of the industry. On last year’s predictions Related: Inside the Osaka Conference Where Crypto Got Serious About FATF’s ‘Travel Rule’ A year ago, I made similar predictions for the direction of blockchain in 2019. Here’s a look back at how those performed throughout the year. I’ve rated the strength of my predictions on a scale of 1 to 5, with 1 being the least predictive and 5 being the most predictive of how the year actually went. Consolidation 2019 saw some significant acquisitions, many of which propelled the year’s most significant projects. Some ones to note are ConsenSys’s acquisition of Infura (an ETH node hosting service), Coinbase’s acquisition of Neutrino (crypto analytics), and Facebook’s acquisition of Chainspace (of which, presumably much of the talent contributed to Libra/Calibra). Accuracy: 4 Security-Token Offerings (STOs) Institutionally, I saw a lot of crucial STO growth, including Blockstack, a $33.8 million Bond-i by the World Bank, a $20 million bond on ethereum by Santander, and a partnership with Asia’s largest real estate investment trust to launch Link REIT. Still, purchases were slow due to (1) persistent regulatory concerns and (2) little value-add beyond higher relative liquidity, which wasn’t enough to convert most investors to purchase STOs. The space is growing, but slowly. Story continues Related: What Is a Cryptocurrency? We Need Clearer Definitions Accuracy: 3 Death of ICOs This turned out very true – ICO closures in 2019 were incredibly sparse compared to 2018 (August and October both had none, while January 2018 had 160 projects). That said, 2019 projects raised more funding on average ($6.8 million) compared to 2018 ($132,000). Still, ICOs are losing popularity because of (1) concerns with funded projects (2) regulatory hurdles with selling the tokens and (3) the crypto bear market. Accuracy: 5 Institutional Capital With higher education on cryptocurrency, 2019 did see more institutional interest and investment than prior years. There were projects like JPM Coin (by JPMorgan), the launch of Fidelity Digital Assets, and whispers of interest and proposed projects from other major institutions like Goldman Sachs and the World Bank. Still, we didn’t see a ton of tangible projects in this space, but as crypto matures, the traditional giants of the finance industry are becoming more and more interested. Accuracy: 2 Scalability Scalability (primarily sharding and payment channels) was a huge thesis for 2019. The Lightning Network’s growth was one of the most critical vehicles for the wave of development of decentralized apps in 2019; developers are becoming less wary of blockchain’s high fees and low speed and are capitalizing on its other features, with similar convenience to traditional development platforms. In a similar vein, I also saw significant work in abstractions for developers, like the Alchemy API. Accuracy: 5 Seven key areas to look out for in 2020 For 2020, I’ve identified some key concepts and projects that I think will advance significantly. I’ve discussed my thoughts on each below. Libra/Calibra In 2019, Facebook announced its Libra project, a cryptocurrency that will be integrated with the Facebook suite of products (Facebook, Messenger, WhatsApp) through a new platform called Calibra. Facebook expects the Calibra wallet to launch in 2020 for its messaging applications – this will likely be the largest mainstream launch and use case for cryptocurrency that the world has ever seen. Facebook’s user base is massive, to say the least, at 2.45 billion individuals, and Calibra will likely present an easy-to-use, convenient platform for these users to pay each other and pay online services through single-sign-on with their Facebook credentials. A launch at this scale would introduce millions of users (many of whom have little to no background with crypto) to the idea of managing assets and payments via a cryptocurrency – and will test the resolve of the space against the masses. It’s also likely that Libra and Calibra will open critical conversations on regulatory issues and data privacy; David Marcus, the head of the project, has already testified against the doubts of the US Senate and ongoing criticism of Facebook’s data scandals will highlight the power – and necessary improvements – of a platform like Libra/Calibra. Halving The latter half of 2019 has not been kind to bitcoin – we hit a price maximum of roughly above $13,000 around the middle of the year but have since dropped back down to hovering around the $8,000 mark. Nonetheless, the price has nearly doubled since the beginning of the year. More importantly, in May 2020, bitcoin will undergo its next halving event; to put it succinctly, halving is a protocol built into bitcoin that “halves” the reward that miners receive for mining a block every few years, forcing the total amount of BTC to ever be in existence to cap at 21 million. The reward for mining a block will halve to 6.25 BTC (nearly $40,000 given the current price of BTC). Halving will likely create a significant bull run in the bitcoin market, for two main reasons. First, it perceptually represents a shrinking supply of “remaining BTC” for investors, which makes investors see each new unit of BTC with more and more value (since less remain). Secondly, since the mining reward is less, fewer miners will be incentivized to mine transactions – this relative scarcity of miners (compared to the status quo) will also drive up the value of the cryptocurrency. Halving will likely keep the price of BTC relatively high for the entirety of 2020 and may bring some more confidence to the space. Gaming Game developers and enthusiasts are increasingly exploring what blockchain can do for their gaming systems and how they can incorporate cryptographic assets into (1) the way they provision technological resources and (2) gameplay, in terms of in-game purchases, assets for different players, credits, etc. We’ve seen a fair amount of this already – Splinterland on Steem and the collaboration between Enjin and Microsoft Azure Heroes, but still, there’s a lot of work that remains. Blockchain gaming will likely boom in 2020 because of important developments in high-performance tools that allow games to run on previously-rate-limiting blockchain technologies, better architected smart contracts, second-layer solutions, and abstracted infrastructure/digital asset storage that makes it easy for game developers to build digital assets into the gameplay and character experience. Hopefully, we’ll see something mainstream on a platform like Steam or Twitch that really puts the power of blockchain in the context of the average gamer. DeFi Growth Decentralized finance (DeFi) has undoubtedly been one of the largest areas for growth of cryptocurrency in 2019 – and I expect that this trend will follow through with 2020. Services like Maker, Compound, InstaDapp, etc. will likely see more monthly active users and locked-in value as more and more mainstream consumers and crypto enthusiasts alike catch onto the real-world potential of DeFi – for lending, taking out a mortgage, retail payments, arbitrage, etc. DAI is also increasingly becoming the “stablecoin standard” and a strong performance in 2019 sets high hopes for its potential growth in 2020 across mainstream users. With the move from single-collateralized DAI to multi-collateralized DAI earlier this year, we’re also likely going to see an onboarding of more users onto the platform and a diversification of the collateral behind DAI, both of which provide critical strength to DAI as a stablecoin and its signaling about the blockchain space. We’ve also seen growing institutional interest in blockchain from the likes of consumer finance products and major banks – we’re keen to see more of this growth in 2020. Centralized Banking Currencies This is unlikely to happen within the United States, but China earlier this year launched a digitized version of their yuan currency for mainstream use in a diversity of applications – loans, retail, taxes, etc. This digital currency isn’t strictly a “cryptocurrency” per se, because it’s delivered through a centralized agency, but it does represent growing global interest into shifting the financial ecosystem online. This digital yuan will be a promising signal as to how digital assets perform in mainstream use cases, particularly in online venues like Alibaba and Baidu. Strong outcomes may signal higher confidence in digitizing the financial space, which ultimately brings more confidence to cryptocurrency and DeFi. Infrastructure & Web 3.0 The past year has also been huge for infrastructural solutions for blockchain – some key ones include the growth of the Lightning Network, which provides critical speed and scalability improvements for decentralized apps, and Alchemy, which offers a suite of APIs and infrastructural tools that greatly simplify the decentralized development process. These advancements will likely spur a wave of new decentralized applications and web 3.0 technologies, enabled by abstractions and enhanced simplicity of development. We’re hoping to see more decentralized compute platforms (in the likes of Orchid, a VPN provisioning solution that capitalizes on a decentralized digital token system), that may also capitalize on increasing growth in cloud and SaaS technologies next year. This will likely broaden to other, more consumer-oriented use cases too, like privacy-centric browsers, gaming, social networks, information retrieval, and more. Regulatory Hurdles With the diversity of crypto projects that have launched in 2019 and those to come in 2020, it would be naïve to not anticipate the regulatory hurdles that come with these nascent technologies. Some key ones to watch out for include (1) regulation of technologies that employ zero-knowledge proofs (Zcash, for example) that might present powerful, unregulatable tools for criminal financial use, (2) data privacy concerns with the mainstreaming of blockchain and electronic digital finance (concerns surrounding the Libra launch, for example), and (3) the ongoing fight about recognizing certain tokens and currencies and securities versus commodities. As crypto projects become increasingly nuanced and different in highly-specified ways, we’re also hoping to see greater education about these projects amongst regulatory agencies to understand the nuances and how they might affect their regulation and characterization. Final thoughts Ultimately, with a space as nascent as cryptocurrency, it’s hard to identify exactly what might be big in the coming year – projects go through extremes of success and failures, currencies go through peaks and plateaus, and the industry goes through intense controversy and spells of confidence. That said, I’m confident that 2020 will be a significant year for the industry and we’ll see some incredible innovations. Happy New Year! Related Stories Thanks to Better UX, This Year Dapps Will Go Mainstream AI for Everyone: Super-Smart Systems That Reward Data Creators || Crypto Market Losing Hope: However, ifBitcoin falls by 2%, then altcoins multiply the downward dynamics in several times, reflecting rather deep disappointment of investors and disbelief even in the medium-term prospects of the alternative cryptocurrencies market.
The Bitcoin dominance index rose again to 67.1% against this background. At the same time, Tether (USDT) stablecoin also shows positive dynamics, attracting funds from investors that withdraw them from volatile assets. The Bitcoin greed and fear index is at “Extreme Fear”. Moreover, last week the index also reflected a profound level of fears among crypto market participants.
The Bank of America Merrill Lynch concluded that Bitcoin became the most profitable asset of the outgoing decade. Supporters and opponents of the first cryptocurrency still can’t decide what Bitcoin will be for the global financial system in the historical perspective. Now the most likely scenario is that the idea of blockchain, which is at the heart of Bitcoin, will be a step in the transition from fiat to fully digital currencies. Bitcoin tool kit will allow governments to realize their long-held dream: to take control of capital flows within the country, abroad, to finance their activities anonymously abroad and to create a new image of reserve currencies.
U.S. Treasury Secretary Steven Mnuchin and Federal Reserve Chairman Powell were dodged when they said they did not intend to create a digital token for the U.S. dollar. Whatever officials in the U.S. state, their fierce reaction to Libra most clearly reflects the plans of the monetary authorities.
One can only assume what areas of influence are opening up to the governments of countries with the most potent digital currencies. On the one hand, the United States will unite the English-speaking world and Europe around its token. On the other hand, China will expand into the Asian region, which could bring the user base up to 2.5 billion people. Globalization may lead to the fact that there will be only a few regional digital reserve currencies, several specific ones, as well as some anonymous ones in the grey market zone. Governments have the resources to create extremely competitive and easy-to-use cryptocurrencies that will not compete with the current ones but destroy them.
As much as bitcoin-maximalists would like to compareBTC with gold, so far the governments are stronger and their approach looks more complicated, large-scale and structured.
Likely, 2020 will not be a breakthrough year for Bitcoin, and new price highs will go downwards. The next rebound may be in the range of $10K. However, shortly, the search for a possible “bottom” where Bitcoin may lay in the next few months and from where he may form a turnaround to growth, looks correct.
Breakthrough of the 200-day average, as well as the “death cross” (50-DMA dipped below 200-DMA), are set up for an extended sale-off, the target of which may be one of the areas of previous consolidation with the nearest stops at $5,000 and the potential for the subsequent collapse to $3,000.
This article was written byFxPro
Thisarticlewas originally posted on FX Empire
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• Silver Steady at $17.00 as Markets Digest Phase 1 Deal || Travis Kling on Bitcoin as a Safe Haven Asset: The conversation about whether bitcoin is a safe haven asset continues in the wake of Iranian missile strikes, which saw the price of BTC both surge and retrace in parallel with crude and gold. To help explain whats going on, we feature comments from Ikigai Asset Managements Travis Kling. Also in todays episode, we look at newly published priorities from the SEC around crypto including investor suitability, trading practices and compliance program effectiveness. We also discuss former Bakkt CEO and now U.S. Senator Kelly Loefflers appointment to the committee that oversees the CFTC. Is it a conflict of interest, something good for the crypto industry or both? Topics discussed: Related: MARKETS DAILY: Geopolitical Impacts and Cars Paying Cars in Crypto? Bitcoin as a safe haven asset as it follows crude and gold after Iran missile strikes Related Story: Bitcoin Hits New 2020 High Above $8,400 After Iranian Missile Attack Related Story: Travis Kling Twitter Charts SEC publishes 2020 crypto priorities Related: Bitcoin Price Will Be Golden in 2020 Thanks to Limited Supply, Increasing Use: Bloomberg Report Related Story: Former Bakkt CEO to Help Oversee CFTC in Congress Kelly Loefller appointed to committee overseeing CFTC Related Story: SEC Examination Office Gets Specific About Crypto Priorities in 2020 Related Stories Former Bakkt CEO to Help Oversee CFTC in Congress Bitcoin May Follow Gold With Significant Price Breakout || The Crypto Daily – Movers and Shakers – 05/01/2020: Bitcoin slipped by 0.02% on Saturday. Following a 5.46% rally on Friday, ended the day at $7,369.8. Bitcoin moved within a particularly tight range through the 1 st half of the day, ahead of a choppier 2 nd half. Through the morning, an early low $7,325.1 saw Bitcoin steer clear of the major support levels before striking a morning high $7,395.7. Bitcoin fell short of the major resistance levels, before striking a late afternoon intraday high $7,422.0. Falling short of the first major resistance level at $7,574.3, Bitcoin fell to a late afternoon intraday low $7,297.3. Steering clear of the first major support level at $7,038.7, recovery to $7,300 levels limited the downside on the day. The near-term bearish trend, formed at late June’s swing hi $13,764.0, remained firmly intact, reaffirmed with Bitcoin’s slide back to sub-$7,000 levels earlier in the week. For the bulls, Bitcoin would need to break out from $11,000 levels to form a near-term bullish trend. The Rest of the Pack Across the rest of the top 10 cryptos, it was a mixed day for the majors. Bitcoin Cash SV led the way, rallying by 6.05%. Binance Coin (+1.10%), Bitcoin Cash ABC (+1.25%), EOS (+0.08%), Litecoin (+1.26%), and Tron’s TRX (+0.29%) also saw green. It was bearish for the rest of the pack, however. Tezos led the way down, falling by 1.91%. The continued slide saw Tezos fall back to number 14 by market cap. A visit to the top 10 was a brief one. Ethereum (-0.02%), Ripple’s XRP (-0.26%), and Stellar’s Lumen (-0.35%) also joined Bitcoin in the red. Through the current week, the crypto total market cap recovered from a Thursday low $185.26bn. A bullish start to the day on Sunday saw the market cap hit a current week high $199.54bn. At the time of writing, the total market cap stood at $199.53bn. Bitcoin’s dominance continued to sit at 68% levels following relatively modest losses on Saturday and for the current week. Trading volumes hit $90bn levels on Saturday before easing back to sub-$70bn levels. At the time of writing, volumes were at $65bn levels. Story continues This Morning At the time of writing, Bitcoin was up by 1.61% to $7,488.4. A bullish start to the day saw Bitcoin rally from an early morning low $7,369.9 to a high $7,499.0. Bitcoin broke through the first major resistance level at $7,428.77 and the second major resistance level at $7,487.73. Elsewhere, it was a sea of green across the crypto-board. EOS led the way early on, rallying by 2.11%. Binance Coin (+1.69%), Bitcoin Cash ABC (+1.23%), Bitcoin Cash SV (+1.81%), Ethereum (+1.24%), and Tron’s TRX (+1.76%) also saw solid gains. Stellar’s Lumen trailed the pack early on, rising by just 0.85%. For the Bitcoin Day Ahead Bitcoin would need to move back through to $7,500 levels to support a run at the third major resistance level at $7,612.43. Support from the broader market would be needed for Bitcoin to break out from $7,500 levels. Barring an extended crypto rally on the day, resistance at $7,500 would likely limit any upside. Failure to move through to $7,500 levels could see Bitcoin hit reverse. A fall through the second major support level at $7,487.73 would bring the first major resistance level and sub-$7,400 levels into play. Barring a crypto meltdown, however, Bitcoin should steer clear of the first major support level at $7,304.07. In the event of a sell-off, expect a visit to sub-$7,300 levels before any recovery. This article was originally posted on FX Empire More From FXEMPIRE: EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 04/01/20 Silver Price Forecast – Silver Markets Run Into Trendline Silver Weekly Price Forecast – Silver Markets Reach Towards Previous Uptrend Line U.S Mortgage Rates Eased Back and Could Slide in the Week Ahead S&P 500 Weekly Price Forecast – Stock Markets Chop Back And Forth In Volatile Week Friday’s Risk-Off Session: One and Done, or Start of Near-Term Trend? || Altcoin market update: Will Bitcoin’s positive momentum spill over?: The new year couldn’t have got off to a better start for Bitcoin. After the significant Bitcoin pump we saw last week, where the price of BTC increased close to 20% in the space of a few days, it seems the market has now stabilised. Nevertheless, I expect this week to maintain the positive trend following the recent price action . Will Bitcoin’s positive momentum spill over into the altcoin market? If so, which cryptocurrencies could see a trend reversal in the upcoming weeks? Let’s take a look at the current state of the cryptocurrency market. Bitcoin dominance (BTC.D) As you can see in the chart above, courtesy of TradingView, there’s been a sudden 2% drop in Bitcoin’s dominance over altcoins, showing money has been flying from Bitcoin into altcoins this past week. However, BTC.D is still above all its EMAs on the yearly chart with close to 70% dominance. This is to be expected given there are a lot of altcoin speculators and investors who are looking to make use of altcoins to increase their BTC bags. I argue that some investors are taking a gamble on altcoins following the recent market upturn. If price does appreciate, we could soon see a move from altcoins back into Bitcoin as traders secure gains. Let me further my analysis by looking into some of my favourite altcoin/Bitcoin pairs. ETH/BTC The very first thing I notice in the chart above is that ETH/BTC is below all its EMAs, which is opposite to the BTC.D chart. Do I expect Ethereum to start recovering soon? It all depends on where the money is flowing, but I usually prefer to respect the current trends. At the moment, it doesn’t look good for ETH. The volume profile on the left shows there’s some support for ETH/BTC just above 1,800,000 sats, which means we could expect to see Ethereum consolidating at this price level soon. At the moment, Ethereum is trading at around 1,700,000 sats. ETH recovered from around 1,600,000 sats in early September to over 2,300,000 sats in mid-October, representing a 31% increase in price. The positive trend lasted until December 2019. Shortly after, the Bitcoin market started its recovery and Bitcoin pushed 20% higher versus the US dollar. That pump put downwards pressure on Ethereum, which tanked its price below 1,900,000 sats. When the coin finally starts its recovery, there’s strong resistance around 2,000,000 and 2,300,000 sats, where ETH was previously consolidating before the drop. For the time being, it seems ETH is still at the perfect range for accumulation. XRP/BTC Much like ETH, Ripple (XRP) is also suffering from a downtrend. Story continues However, even though the coin is trading just below its 20-day EMA, it’s showing signs it wants to start its recovery. After the BTC pump earlier this month, XRP experienced its own 10% pump against Bitcoin that took the altcoin from 2,620 sats to around 3,000. Since then, XRP has dropped back to the 2,600 level. Looking at the volume profile, there’s strong support around this level with weak resistance until around 4,000 sats. If there’s a sudden pump, we could see XRP breaking through its 20-day and 50-day EMAs with relative ease. The next strong resistance levels appear at over 5,000 sats and then again close to 8,500 sats. For the moment, I expect XRP to consolidate for a short period before a pump towards 4,000 sats. BCH/BTC Meanwhile, the chart for Bitcoin Cash (BCH) is looking quite bullish. You can see that most of the trading volume is below where BCH is currently sitting, a sign of positive volume coming into the BCH/BTC market. In addition, price has continuously broken the 2,700,000 sats level, which had been a barrier since mid-December 2019. Bitcoin Cash has broken all its EMAs and is now sitting close to 3,300,000 sats. Since the start of the year, BCH has increased over 20% in price. Looking at the current trend, I expect Bitcoin to pump a few more times before the gains start spreading more significantly into key altcoins such as Bitcoin Cash. Given the above scenario, we could definitely see BCH going towards the 5,000,000 sats level soon. Safe trades! Follow my daily cryptocurrency price analysis here . The post Altcoin market update: Will Bitcoin’s positive momentum spill over? appeared first on Coin Rivet . View comments || Stock market news live: Stocks end lower as China virus rattles markets; Netflix and IBM top expectations: Stocks were under pressure Tuesday coming off a three-day weekend in the U.S., with concerns over apotentially deadly virus outbreak in Chinaknocking global markets.
With a light line-up of corporate earnings results and economic data on the schedule for the session, attention instead turned to the World Economic Forum in Davos, Switzerland, and the start of President Donald Trump’s impeachment trial in the U.S. Senate.
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Following on the heels ofNetflix’s quarterly earnings beat, IBM (IBM) posted itsfirst revenue gain in over a year, as its bottom line got a lift from cloud computing.
The old-line technology giant saw its cloud revenue jump 21% to $6.8 billion in the fourth quarter, amid CEO Ginny Rometty’s focus on the high-margin business and away from IBM’s traditional stalwarts. The stock finished the session up modestly around $139.17.
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Here’s where the major indices had settled as of 4:07 p.m. ET:
• S&P 500 (^GSPC): -0.27% or -8.83 points to 3,320.79
• Dow (^DJI):-0.52% or -152.06 points to 29,196.04
• Nasdaq (^IXIC): -0.19% or -18.14 points to 9,370.81
• Crude oil (CL=F):-0.50% or -0.29 to 58.25 a barrel
• Gold (GC=F):-0.13% or -2.10 to 1,558.20 per ounce
Stocks held lower Tuesday afternoon after the CDC’s confirmation of a U.S. case of the Wuhan coronavirus jolted global markets.
Here were the main moves in markets, as of 2:44 p.m. ET:
• S&P 500 (^GSPC): -0.26% or -8.69 points to 3,320.93
• Dow (^DJI):-0.6% or -174.81 points to 29,173.29
• Nasdaq (^IXIC): -0.28% or -26.23 points to 9,362.85
• Crude oil (CL=F):-0.5% or -$0.29 to $58.25 a barrel
• Gold (GC=F):-0.14% or -$2.20 to $1,558.10 per ounce
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The Center for Disease Control and Prevention (CDC) on Tuesday announced its first confirmed U.S. case of the coronavirus that killed at least six people in China.
A male traveler from China was diagnosed with the coronavirus in Washington State, according to the CDC. The illness has sickened hundreds so far in China, and the U.S.began screeningfor the virus at airports in New York, San Francisco and Los Angeles on Friday.
Shares of airline stocks including Delta (DAL) and American Airlines (AAL), along with tourism-related stocks including Wynn Resorts (WYNN) and Las Vegas Sands (LVS), slumped following the news.
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Shares of Boeing (BA) hit a 52-week low of $310.81 Tuesday according to Yahoo Finance data. The dip followed a CNBCreportthat Boeing pushed back its expectation for when federal regulators will sign off on the 737 Max 8 to June 2020 at the soonest.
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A new virus originating in China has sentanxiety rippling across global markets, and weighed on Tuesday’s trading. Yet Capital Economics says the history suggests those fears “rarely have a long-lasting and widespread effects on equities:”
Admittedly, the most obvious comparator to the latest outbreak is the 2003 SARS epidemic, whichdidhave a clear economic and financial market impact. ThisUpdateon ourEmerging Asiaservice describes the economic fallout of that event in the region in detail – in short, travel and tourism spending in particular was initially hit hard. And in the weeks after the Chinese authorities eventually went public about the spread of the disease and informed the World Health Organisation, MSCI’s index of China’s equities fell by more than 10%.
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Reuters reports that President Donald Trump, fresh off the dais at Davos where he took avictory lap for the U.S. economy’s strength, willdine with Apple’s Tim Cook and other CEOs. Daughter and presidential adviser Ivanka Trump organized the confab.
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Stocks were mixed during the intraday session, with the S&P 500 hovering near unchanged. The Dow pared losses of as many as 112 points from the lows of the session.
Here were the main moves in markets, as of 11:42 a.m. ET:
• S&P 500 (^GSPC): -0.06% or -1.92 points to 3,327.7
• Dow (^DJI):-0.1% or -30.35 points to 29,317.75
• Nasdaq (^IXIC): +0.07% or +6.27 points to 9,395.02
• Crude oil (CL=F):-0.48% or -$0.28 to $58.26 a barrel
• Gold (GC=F):-0.23% or -$3.60 to $1,549.70 per ounce
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Starbucks’ (SBUX)decision to pursue sustainable business alternatives— including plant-based options on its menu — has created a halo effect for Beyond Meat (BYND). The fake-meat companyis spiking by over 11% in mid-morning trading, as investors bet on the coffee giant becoming the latest company to offer its product.
Beyond Meat has alreadygotten traction with other major chains, including McDonald’s (MCD), Dunkin Donuts (DNKN) and KFC.
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Stocks opened slightly lower, coming off Friday’s record highs.
Here were the main moves in markets, as of 9:34 a.m. ET:
• S&P 500 (^GSPC): -0.2% or -6.67 points to 3,322.94
• Dow (^DJI):-0.08% or -23.52 points to 29,324.58
• Nasdaq (^IXIC): -0.25% or -22.84 points to 9,365.41
• Crude oil (CL=F):-0.6% or -$0.35 to $58.19 a barrel
• Gold (GC=F):-0.7% or -$11.00 to $1,549.30 per ounce
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Credit Suisse analyst Jonathan Golub raised his2020 price target for the S&P 500to 3,600 from 3,425 previously, suggesting about 8% upside from levels as of Friday’s close.
The call is based on an S&P 500 earnings per share estimate of $175, representing 6.2% growth over last year and accelerating after a sluggish 1% rise in 2019. He expects EPS will rise to $184 in 2021.
Three main factors inform Golub’s new price target: First, he believes the domestic economy will firm further in the first half of the year, bringing both bond yields and equity prices higher. Second, he said the headwinds facing energy and big tech stocks in 2019 will reverse this year amid an improving economic backdrop, driving earnings growth for cyclical stocks. And third, multiples could have more room to expand.
“With multiples at 18.7x – versus a 50-year average of 14.4x – investors are reluctant to project higher PEs despite an abundant return of capital to shareholders (div + buyback yield = 4.1%), and depressed volatility, rates and spreads. By contrast, P/FCF (price to free cash flow) is roughly in line with long-term averages,” Golub said. “Our work indicates that stocks are undervalued on a discounted cash flow basis, and should grind higher.”
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Peter Schiff, a noted cryptocurrency skeptic who’s relentlessly bearish on Fiat currencies — and a fierce critic of Fed policy — said over the weekend that he’dlost access to his bitcoin stash.Apparently his digital wallet stopped accepting his password:
Schiff has promoted bullion for years, but was one ofa handful of gold bugs willing to publicly denouncebitcoin (BTC).
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The 50th annual World Economic Forum continues Tuesday through the end of the week, bringing together some of the world’s most powerful leaders in Davis, Switzerland.
President Donald Trump delivered a speech at 9 a.m. local time, touting the strength of the U.S. economy and his administration’s phase one trade agreement with China signed last week.
“I told you we had launched the ‘Great American comeback.’ Today, I’m proud to declare the United States is in the midst of a great economic boom, the likes of which the world has never seen before,” Trump told the audience at the World Economic Forum.
READ MORE
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Stocks paced toward their first down day in four sessions, with contracts on each of the three major indices slightly in the red in early trading. On Friday, stocks hadclosed at record highs.
Here were the main moves during the pre-market session, as of 7:45 a.m. ET:
• S&P futures (ES=F): 3,315.25, down 9.75 points or 0.29%
• Dow futures (YM=F):29,231, down 48 points or 0.16%
• Nasdaq futures (NQ=F):9,140.00, down 34.5 points or 0.38%
• Crude oil (CL=F):$57.74 per barrel, down $0.80 or 1.37%
• Gold (GC=F):$1,557.60 per ounce, down $2.70 or 0.17%
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Find live stock market quotes and the latest business and finance news
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 9392.88, 9344.37, 9293.52, 9180.96, 9613.42, 9729.80, 9795.94, 9865.12, 10116.67, 9856.61
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2016-02-02]
BTC Price: 374.45, BTC RSI: 40.77
Gold Price: 1127.30, Gold RSI: 63.81
Oil Price: 29.88, Oil RSI: 40.96
[Random Sample of News (last 60 days)]
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 || 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 || 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 || Mike Tyson Dives Deeper Into Bitcoin: Former boxing star Mike Tyson is deepening his interest in the bitcoin space by creating a digital bitcoin wallet that will allow users to store, purchase and sell the cryptocurrency. The wallet was developed by Bitcoin Direct in partnership with BitPay and will be one of the first wallets that allows users to buy and sell from inside the app.
Tyson's Bitcoin Projects
This is not Tyson's first foray into the bitcoin space. He partnered with Bitcoin Direct last year to launch a line of bitcoin ATMs that gave people the ability to turn cash into bitcoins at any machine's location. Now, with Tyson endorsing a wallet as well, many are wondering whether or not celebrity attention will drive mainstream usage.
The new wallet will feature Tyson's tribal face tattoo as the background image and is available for download on iOS. An Android version is expected to be released in the coming weeks.
Celebrity Appeal
Bitcoin Direct believes that Tyson's popularity around the world and across several generations makes him a good option to engage the masses,saying that his"potential to expand the Bitcoin market is dramatic." However, it remains unknown whether or not the power of celebrity will be enough to encourage new users.
Safety Still A Concern
Although celebrity endorsements often get products more notoriety, bitcoin itself has struggled with safety and security issues that some believe can't be overcome by a recognizable face. Tyson may bring more attention to the cryptocurrency community, but he may not be able to convince the public that it is trustworthy. Instead, many believe that more regulation is the real key to taking bitcoin mainstream as that would provide users with more protections.
Image credit:Eduardo Merille, Flickr
See more from Benzinga
• Court Case Means Emissions Scandal Isn't Going Away For Volkswagen
• What To Make Of Monday's Market Selloff
• General Motors Kicks Off The Year With A Bang
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Surprising Gift Offered to Bitcoin Sellers at Coin Reverse Inc.: Coin Reverse Inc. Is Now Offering Engraved Bitcoin to Their Customers
NEW YORK, NY / ACCESSWIRE / January 29, 2016 /Coin Reverse Inc. (http://www.coinreverse.com) has hit the charts with their latest offer on Bitcoin purchase: they're not only offering 15% more than Blockchain's official rate for each Bitcoin they purchase, but they are also putting a surprise gift on transactions amounting 10+ BTC.
CoinReverse's marketing team has gone creative enough to attach a special gift to each and every transaction amounting more than 10 BTC: they are offering a 24-karat gold coin with the Bitcoin engraved on both sides. The mechanism is simple: each customer selling over 10 BTC within one transaction is asked to provide a mailing address and the company delivers the gift via a courier.
CoinReverse's Marketing Manager Jacob Gustavo is enthusiastic with their latest gift idea, while being positive that people involved in the cryptocurrency market are definitely welcoming a jewelry-like item engraved with the Bitcoin logo, being offered to them for doing business with CoinReverse.
"In this way, we are offering our customers a somehow materialized version of this virtual, non-material coin. We think it's pretty cool to put your hands on a coin carrying the Bitcoin's logo, especially if you're passionate about the cryptocurrencies," declares Jacob Gustavo, company's Marketing Manager.
Coin Reverse Inc. is a cryptocurrency trading company based in NewYork, USA, founded and developed by few bold investment professionals who have seen the business opportunity outside the traditional capital markets and have targeted cryptocurrency trade in terms of medium and long-term investments strategy.
Business is operated in an effective manner, with a user-friendly platform and easy contact means through the company's website and via e-mail, with 24/7 assistance through a Live Chat Section offered. Payments for the trade are free of any charges on the customer's side, while the company covers all the costs involved. The most common payment methods are available: PayPal and Bank Transfer.
All the details related to the company's offer and other information, together with the contact details of the Sales Team are available on their website:http://www.coinreverse.com.
No restrictions on customers' provenience and payment destination countries or currencies are in force within the company's policy.
For more information about us, please visithttp://coinreverse.com.
Contact Info:
Name: Tom JunoOrganization: Coin Reverse Inc.Address: 1370 Broadway, 5th FloorPhone: (315) 210-8349
SOURCE:Coin Reverse Inc. || Your first trade for Wednesday: The " Fast Money " traders delivered their final picks with just two trading days left in the year. Pete Najarian was a buyer ofWynn Resorts ( WYNN ) . Brian Kelly was a buyer of Trina Solar ( TSL ) . Dan Nathan was a seller of McDonald's ( MCD ) . Guy Adami was a buyer of Thermo Fisher Scientific ( TMO ) . Trader disclosure: On December 29, 2015, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Pete Najarian is long Long AAPL, BAC, BMY, BP, DIS, DISCA, FOXA, GE, KO, MRK, PEP, PFE, he is long calls A, ABX, BAC, COP, DAL, DDD, EMR, EXAS, HAIN, HUN, LC, LULU, MOS, MSFT, NRF, NSAM, PNR, SCSS, UAL, VZ, WLL, WYNN, He is long puts FCX, MRO, WFT. 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 GM Jan Put Butterfly, Long Len Jan Put Fly, Long QCOM feb calls, Short SPY, Long UUP. Brian Kelly is long BBRY, Bitcoin, GDX, GLD, Hong Kong Dollar, TLT, US Dollar; he is short British Pound, Euro, Yen, Yuan, Canadian Dollar, GSG, EEM, EWC, EWH, KRE, SPY. 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 || 5 'Bold' Predictions For 2016: In a new report, Cup & Handle Macro analyst Michael Lingenheld revealed five bold market predictions for 2016. Heres a breakdown of his list. 1. Revolution in a major emerging market Lingenheld believes that South Africa is the top target, but names Turkey, Indonesia, Malaysia, Saudi Arabia, Ukraine and Russia as other possibilities. All of these countries are currently suffering from large debt burdens, poor leadership and high youth unemployment. 2. Bitcoin outperforms all fiat currencies Lingenheld made this same prediction prior to 2015, and it came true. Bitcoin gained 35 percent in 2015, and he sees no reason why the cryptocurrency wont outperform again in 2016. 3. A major currency peg will break Lingenheld notes that the IMFs annual review of currency regimes revealed than only 35 percent of member countries let their currencies float as of the beginning of 2015. He adds that Middle Eastern countries suffering from low oil prices are top candidates, including Saudi Arabia, Kuwait and UAE. Bringing down any of these pegs would be a major macro story, but a free-floating or devalued Hong Kong Dllar would be a monumental development, Lingenheld explains. 4. Corn and wheat will each rally at least 20 percent Global stock-to-use ratios are at 16-year highs, and low gas prices have been a major boost for farmers. However, Lingenheld is not convinced that crop prices are high enough to drive a huge planting season in the spring. 5. A unicorn company will go bankrupt Lingenheld sees a shift in market enthusiasm for new tech companies, including the disappointing Square Inc (NYSE: SQ ) IPO pricing. He believes that the reality of competing with big tech companies like Alphabet Inc (NASDAQ: GOOGL ) , Apple Inc. (NASDAQ: AAPL ) and Amazon.com, Inc. (NASDAQ: AMZN ) will start weighing heavily on smaller unicorn companies and their investors. Disclosure: the author holds no position in the stocks mentioned. Latest Ratings for AAPL Dec 2015 Cowen & Company Maintains Market Perform Dec 2015 Barclays Maintains Overweight Dec 2015 BMO Capital Initiates Coverage on Outperform View More Analyst Ratings for AAPL View the Latest Analyst Ratings Story continues See more from Benzinga Apple's Chart Indicates A Tough Start To 2016 Ahead CES 2016 Expected To Be Huge For Drones, Virtual Reality And Wearables Apple Stock For ? How Fractional Investing Changes The Game © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Record highs predicted for bitcoin in 2016 as new supply halves: By Jemima Kelly
LONDON (Reuters) - 2016 could prove to be the year that the price of bitcoin surges again. Not because of any dark-web drug-dealing or Russian ponzi scheme, but for an altogether less sensational reason - slower growth in the money supply.
Bitcoin is a web-based "cryptocurrency" used to move money around quickly and anonymously with no need for a central authority. But despite being championed by some as the digital money of the future, it is often dismissed as a currency that is too volatile to invest in.
The reason 2016 looks set to be different is that bitcoin's price is likely to be driven in large part by similar factors to a traditional fiat currency, following the age-old principles of supply and demand.
Instead of being controlled by a central bank, bitcoin relies on so-called "mining" computers that validate blocks of transactions by competing to solve mathematical puzzles every 10 minutes. In return, the first to solve the puzzle and thereby clear the transactions is currently rewarded with 25 new bitcoins, worth around $11,000 (BTC=BTSP).
But when it was invented in 2008 by the mysterious "Satoshi Nakamoto", who has yet to be identified, the bitcoin program was designed so that the reward would be halved roughly every four years, in order to keep a lid on inflation. The next time that is due to happen is July 2016.
Bitcoin was also designed to emulate a commodity by having a finite supply of 21 million bitcoins, which will be reached in around 125 years, up from around 15 million today. Hence, also, the use of the term "mining".
Daniel Masters, co-founder of Jersey-based Global Advisors' multi-million dollar bitcoin hedge fund, started his career as an oil trader at Shell in the mid-1980s and spent 30 years trading commodities before crossing over to bitcoin.
Now he reckons the price of bitcoin could test its 2013 highs of above $1,100 next year and then pick up speed to rise to $4,400 by the end of 2017.
That would be due to a number of factors, Masters said, including an increased acceptance of payments in bitcoin by big companies and authorities, rapidly growing interest and investment in the "blockchain" technology that underpins bitcoin transactions, and also more demand from China as its currency weakens and the economy slows.
But taken in isolation, the halving of the mining reward will increase the price of bitcoin by around 50 percent from where it is now, Masters reckons. That is despite the fact that the halving of the reward has always been inevitable - a factor that would already have been accounted for in pretty much every other market.
"If OPEC (Organization of the Petroleum Exporting Countries)came out tomorrow and said, 'in six months' time we're going to halve oil production', the oil price would instantaneously react. But the bitcoin market is still in its infancy, and I don't think that factor is discounted into the price fully," he said.
DECENTRALIZED DIGITAL ASSET
Bitcoin's price has already almost doubled in the last three months, putting it on track for its best quarter in two years. It hit $500 last month for the first time since August last year, with Chinese demand for a pyramid scheme set up by a Russian fraudster cited as a reason for the price surge.
But Bobby Lee, the chief executive of one of the leading bitcoin exchanges in China, BTCC, reckons there is scope for the cryptocurrency to go much further. He thinks the price could increase by as much as eight times in the time up to the reward halving, taking it as high as $3,500 by next summer.
"Today the worth of bitcoin is $1 per capita in the world (population)," Lee said, referring to the value of all the bitcoins in circulation, around $6.5 billion. "For such an innovative, decentralized digital asset, I say 'boy, are we undervaluing it'. But it takes a while for people to realize that."
The mining reward has already been halved once before, in November 2012, from 50 to 25 bitcoins. The stakes were much lower then, with one bitcoin worth around $12, but nevertheless the price increased by about 150 percent in the preceding seven months - roughly the time left before the next halving.
"It (the halving) dampens supply so, all other things being equal, that puts upwards pressure on price," said Jeremy Millar, partner at London-based financial technology specialists Magister Advisors, who expects demand to continue to increase.
"No one can argue with that fundamental economic principle."
(Editing by Greg Mahlich) || 4 stocks to watch if market falls even more: U.S. stocks dropped Wednesday, continuing a rough start to the year for investors. "Fast Money" traders picked through the battered markets for names that could have potential ahead. The S&P 500 (INDEX: .SPX) slid 2.5 percent Wednesday and has lost 7.5 percent of its value this year. But opportunities still exist amid the weakness, traders said. Investors may want to avoid U.S. multinational companies that have significant exposure to a stronger dollar, contended trader Dan Nathan. Instead, he looked to the Utilities Select Sector SPDR Fund (NYSE Arca: XLU) , which he has previously described as a defensive play with the benefit of a dividend yield. Nathan has a stake in the fund as well as the PowerShares DB US Dollar Index Bullish Fund (NYSE Arca: UUP) , which he said could continue to rise with strength in the dollar. Trader Karen Finerman, meanwhile, pointed to U.S. consumers stocks that have endured recent losses. She owns Macy's (NYSE: M) shares, which have fallen 41 percent in the last year in trading that she described as "ridiculously overdone." The stock has climbed more than 10 percent already this year. Finerman also said that Home Depot (NYSE: HD) would look appealing on a price dip. The stock has fallen 8 percent this year. Disclosures: Pete Najarian Long AAPL, BAC, BKE, BMY, BP, DIS, DISCA, FOXA, GE, KO, MRK, PEP, PFE, he is long calls A, AAL, ABX, BAC, CHS, CMI, COP, DAL, EMR, GDX, GE, HAIN, HUN, LC, MOS, MSFT, NRF, NRG, PNR, POT, UAL, VZ, WYNN, YDKN, ZIOP, he is long puts FCX, MRO Dan Nathan 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, long INTC JAN 32 puts. Brian Kelly Brian Kelly is long BBRY, Bitcoin, GDX, GLD, Hong Kong Dollar, TLT, US Dollar; he is short British Pound, Euro, Canadian Dollar, GSG, EEM, EWC, EWH, SPY, DB Story continues Karen Finerman Karen is long BAC, C, FL, GOOG, GOOGL, JPM, KORS, KORS call spreads, M, SEDG, SPY calls, URI. She is short SPY. Her firm is long ANTM, AAPL, BAC, C, FL, FL calls, GOOG, GOOGL, JPM, KORS, LYV, M, MA, MOH, PLCE, URI, URI long puts, WFM, her firm is short IWM, MDY, SPY. Karen Finerman is on the board of GrafTech International. More From CNBC Top News and Analysis Latest News Video Personal Finance || 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
[Random Sample of Social Media Buzz (last 60 days)]
$455.97 #bitfinex;
$455.15 #coinbase;
$455.00 #bitstamp;
$448.60 #btce;
#bitcoin #btc via #ThePriceOfBTCpic.twitter.com/mU4xVSRb2L || LIVE: Profit = $69.55 (5.10 %). BUY B3.58 @ $380.00 (#VirCurex). SELL @ $400.00 (#HitBTC) #bitcoin #btc - http://www.projectcoin.org || Bitstamp: $364.19/BTC - last trade of USD/BTC at https://www.bitstamp.net/ (high: 429.00, low: 360.00) #bitcoin #BTC http://bitcoinautotrade.com || One Bitcoin now worth $378.80@bitstamp. High $383.99. Low $372.00. Market Cap $ 5.737 Billion #bitcoin pic.twitter.com/LMi7w3ekcg || LIVE: Profit = $351.04 (4.18 %). BUY B20.42 @ $420.00 (#VirCurex). SELL @ $429.46 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || Current price: 420.5$ $BTCUSD $btc #bitcoin 2015-12-11 01:00:05 EST || LIVE: Profit = $840.22 (8.66 %). BUY B23.31 @ $450.00 (#VirCurex). SELL @ $452.95 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || 1 #bitcoin = $7495.00 MXN | $405.64 USD #BitAPeso 1 USD = 18.48MXN http://www.bitapeso.com || #RDD / #BTC on the exchanges: Cryptsy: 0.00000005 Bittrex: 0.00000004 Average $1.9E-5 per #reddcoin 16:00:01 via #p…pic.twitter.com/bfBjuaRQcv || Current price: 283.22£ $BTCGBP $btc #bitcoin 2016-01-15 07:00:09 GMT
|
Trend: up || Prices: 369.95, 389.59, 386.55, 376.52, 376.62, 373.45, 376.03, 381.65, 379.65, 384.26
|
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 2020-04-21]
BTC Price: 6880.32, BTC RSI: 48.84
Gold Price: 1678.20, Gold RSI: 53.31
Oil Price: 10.01, Oil RSI: 45.20
[Random Sample of News (last 60 days)]
Latest Ethereum price and analysis (ETH to USD): Ethereum has struggled to gain momentum on lower time frames with a 12.46% decline over the past week. It is currently trading 3.1% lower than yesterday’s daily candle close at $156.22, which signals that a retest of the $151 level of support may be on the cards in the coming days. It’s worth noting that last week’s rally to $176 was halted by a gruelling rejection from the daily 200 moving average. Until Ethereum can pick itself up and trade back above the 200MA it remains in a more bearish pattern in the short-term. A break above $176 would pave the way for a rally back towards its yearly high of $289, which ties into the bullish narrative surrounding the Bitcoin halving event in May. While Ethereum and Bitcoin are two very different assets, price action is often correlated so when Bitcoin makes a major move Ethereum and other altcoins will likely follow. This is why speculators are hoping that the Bitcoin halving can have its desired bullish effect on the market, thus causing the likes of Ethereum to surge exponentially. Next month rewards for Bitcoin miners will be slashed from 12.5BTC per block to 6.25BTC per block, effectively halving the supply that will come onto the market. Furthermore, miners need to ensure that mounting electricity costs and overheads are met by mining profit. When the rewards are halved the price will need to double in order for the margins to remain the same. From Ethereum’s standpoint the key remains trading back above the daily 200 MA before the Bitcoin halving as it would provide an ideal platform ahead of a potential cryptocurrency bull market. For more news, guides and cryptocurrency analysis, click here . About Ethereum Ethereum was launched by Vitalik Buterin on July 30 2015. He was a researcher and programmer working on Bitcoin Magazine and he initially wrote a whitepaper in 2013 describing Ethereum. Buterin had proposed that Bitcoin needed a scripting language. He decided to develop a new platform with a more general scripting language when he couldn’t get buy-in to his proposal. Story continues More Ethereum news and information If you want to find out more information about Ethereum or cryptocurrencies in general, then use the search box at the top of this page. Please check the below article: https://coinrivet.com/ethereum-adopts-erc-1155-as-an-official-standard/ As with any investment, it pays to do some homework before you part with your money. The prices of cryptocurrencies are volatile and go up and down quickly. This page is not recommending a particular currency or whether you should invest or not. You may be interested in our range of cryptocurrency guides along with the latest cryptocurrency news . Disclaimer: This is not financial advice. || New Era in Cryptocurrency Mining during Coronavirus: COPENHAGEN, DENMARK / ACCESSWIRE / April 7, 2020 /As the coronavirus outbreak continues to cause havoc across the globe, the world of crypto mining is quietly experiencing a revolution. BitHull S.A (www.BitHull.com), a technology company, has recently introduced two crypto miners that have created a new lease of life for mining enthusiasts locked up in home quarantine. Built around the latest Field Programmable Gate Array or FPGA technology, the products create an unprecedented profit earning potential for the newbies as well as crypto mining experts.
Both the multi-algorithm miners from BitHull can be used for mining Bitcoin, Litecoin, Ethereum, and Monero. BH Miner is the basic product from the company with a moderate power consumption of 550W. BH Miners Box, on the other hand, is a combination of six BH Miner units connected to each other. The units generate very low noise, and hence, can be used at home or any other place.
Hash Rate:
BH Miner: 360 TH/s, 60 GH/s, 15 GH/s, and 3 MH/s for Bitcoin, Litecoin, Ethereum, and Monero respectively.
BH Miners Box: 2160 TH/s, 360 GH/s, 90 GH/s, and 18 MH/s for Bitcoin, Litecoin, Ethereum, and Monero respectively.
Profit and Power Consumption (BH Miners Box):
Bitcoin: $7951.95 profit per month
Litecoin: $18.64k profit per month
Ethereum: $25.78k profit per month
Monero: $29.06k profit per month
The power cost is $285 per month and the calculations were made based on the cost of $0.12/kWh. BitHull recommends all its customers to verify the above details in real time using a reliable online calculator.
Regardless of any price fluctuation or mining difficulty changes, both products will remain profitable.
"Today, empowering individuals with home-based income opportunities is imperative," said Matias Milet, Vice President of BitHull S.A. "We are proud to address the need of the hour with our miners that bring super-fast return on investment and huge profits."
For more details, please visithttps://www.bithull.com/
About BitHull: BitHull S.A. is a technology company dedicated to developing next-generation hardware for cryptocurrency mining. The company is run by a team of experts with a track record of delivering world-class tech components such as FPGA chips to numerous industry heavyweights.
Media contactMatias [email protected]+4565742479
SOURCE:BitHull S.A.
View source version on accesswire.com:https://www.accesswire.com/584242/New-Era-in-Cryptocurrency-Mining-during-Coronavirus || Which Cryptos To Buy And When: The Straight Answers With No Ax To Grind: Stock market volatility has been bleeding into the crypto markets ... We’re inching steadily closer to Bitcoin’s halving, an event expected to shake up the crypto sphere ... And the greed/fear propaganda of yesteryear is back. How do you navigate through this labyrinth of market confusion and misinformation? Simple. You use cold, hard data and objective, independent, non-conflicted logic. That’s what we do. And that’s how we come up with our Weiss Crypto Ratings. Here’s a quick summary of the three coins that get our top ratings right now ... Bitcoin (BTC) Technology/Adoption: “A” Market Performance: “D-” Overall Rating: “B+” A decade ago, Bitcoin created a decentralized monetary system and declared independence from any institution, both public and private. Now fast forward 11 years. You should see three important developments ... First , you see Bitcoin functioning as a fully digital payment system owned and controlled by absolutely no one. No asset, whether digital or not, has ever performed that function in that way — with one possible exception: Gold. But in modern times, that function for gold has been little more than a dream held by a minority — never a reality experienced by a majority. Until now. Second , you see how that unique feature has propelled Bitcoin’s growth from zero to a worldwide asset currently worth approximately $114 billion. Why? Because Bitcoin offers a legitimate alternative to fiat money. It is neutral and borderless. And it was created to be an answer to a global debt crisis. Third , you see that new challenges have emerged ... new blockchain technologies have been created to address them ... never-before-imagined possibilities have burst onto the scene ... and the crypto-asset industry that Bitcoin launched has moved far beyond the simple peer-to-peer payments it once aimed to revolutionize. And that leads us to ... Ethereum (ETH) Story continues Technology/Adoption: “A” Market Performance: “E+” Overall Rating: “B+” While Bitcoin was the world's first public blockchain, Ethereum was the first major improvement. Ethereum used the same technology that made Bitcoin successful and took it one step further. It allowed developers to create virtually any application through “smart contracts.” Thus, Ethereum is viewed as the world's first globally distributed public computer. But it wasn’t done with just improving Bitcoin. Ethereum is determined to improve itself. Currently, Ethereum is so popular that the network is routinely overloaded. Transaction times can sometimes become agonizingly slow. Transaction fees can often be exorbitantly expensive. But, provided it can be fixed, this is a good problem to have because ... Chronic congestion signals vast and growing adoption, arguably the single most important factor in the long-term success of any cryptocurrency. And it can be fixed. Developers are working on an upgrade: Ethereum 2.0. The hope is that with this upgrade, transaction time will drop to between three and six seconds. Bottom line: We have already upgraded Ethereum's technology grade once. And further upgrades are very possible as we get more clarity on how all this will play out. This combined with its high adoption rating makes Ethereum very attractive. Cardano (ADA) Technology/Adoption: “B+” Market Performance: “E+” Overall Rating: “B-” Cardano is one of the most complex of all the cryptos we rate. Like other third-generation cryptos, Cardano aspires to be a new and improved version of Ethereum. But what most sets it apart from the crowd is the way developers are going about building it out: Slowly and methodically. Why? Because they place top value on getting stuff right the first time. Compare that to teams that are hell-bent on rushing new features to market ... sitting back ... and waiting to see what breaks down under the stress of real-world usage. The latter may be a tolerable strategy for software confined to non-mission-critical applications like gaming. But it’s intolerable for serious use-cases to which Cardano aspires to provide: Critical infrastructure to the global financial system. And this dedication to getting things right attracts top-level mathematicians, engineers, and computer scientists. For them, it's a chance to work side by side with the best of the best. And this is reflected in one of the highest Technology scores of all the cryptos we rate. In many ways, Cardano is setting new standards for what distributed ledger technology should look like. What to Do Now First , if you’re a long-term investor willing to ride out any near-term storms, this is a good time to get in at relatively good prices. Second , be sure to watch for your Weiss Crypto Alert issues. And if you’re reading this online, be sure to sign up to get them in your inbox. Third , learn all about our Weiss Crypto Ratings. They are the only crypto ratings issued by a financial rating agency. Plus, to our knowledge, they’re the only ones created with total independence and no conflicts of interest. Check out Weiss Crypto Ratings and Indexes: https://www.benzinga.com/cryptocurrency/weiss-crypto-ratings/ https://www.benzinga.com/cryptocurrency/weiss-crypto-indexes/ Image sourced from Pixabay See more from Benzinga Traditional Markets Are Collapsing-- Is This A Part Of The Solution? A Look At A More Advanced Stablecoin Next Up For DLT Disruption? The .2 TRILLION Insurance Industry © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – First Upside Objective 8944.75 to 9137.75: March E-mini NASDAQ-100 Index futures are trading slightly higher shortly after the cash market opening. The market is being underpinned by expectations of a 25 to 50 basis point rate cut by the Fed later this month. However, gains are being dampened by disappointment in the G7 finance ministers’ and central bank officials’ inability to reach a decision on coordinated rate cuts to stem the damage from the coronavirus. At 14:42 GMT, March E-mini NASDAQ-100 Index futures are trading 8832.75, up 41.50 or +0.47%. Daily March E-mini NASDAQ-100 Index Daily Technical Analysis The main trend is down according to the daily swing chart, however, momentum is trending higher. A trade through 8126.25 will signal a resumption of the downtrend. A move through 9763.00 will change the main trend to up. The key support is a retracement zone at 8628.50 to 8360.75. The first upside target zone is 8944.75 to 9137.75. Look for sellers on the first test of this retracement zone. Daily Technical Forecast Based on the early price action and the current price at 8832.75, the direction of the March E-mini NASDAQ-100 Index on Tuesday is likely to be determined by trader reaction to the steep downtrending Gann angle at 7839.00. Bullish Scenario A sustained move over 7839.00 will indicate the presence of buyers. This could lead to a test of 8944.75 to 9137.75. Since the main trend is down, look for sellers on the first test of this zone. Bearish Scenario A sustained move under 7839.00 could trigger a retest of the main retracement zone at 8628.50 to 8360.65. This article was originally posted on FX Empire More From FXEMPIRE: Natural Gas Price Prediction – Prices Rebound but Trend Remains Downward Gold Price Forecast – Gold Markets Rally On Surprise Rate Cut EU Data Supported the Euro, but Unlikely to be for Long Crude Oil Price Forecast – Crude Oil Markets Gap Higher Tuesday Bitcoin Follows the Market, Losing the Battle for Digital Gold Natural Gas Price Forecast – Natural Gas Markets Rally Into Resistance View comments || Latest Bitcoin Cash price and analysis (BCH to USD): Bitcoin Cash is approaching a bullish breakout above the $238 level of resistance after having consolidated above $200 for the past fortnight. It spiked all the way to $250 yesterday evening before dropping back below the level of resistance during a market-wide sell-off. A breakout above $238 would open the door for a 12.5% rally to the upside, with the next target coming in at $269, which was a level of support earlier this month and a level of resistance in January before the rally to $495. It’s worth noting that the daily 50 EMA crossed the 200 EMA to the downside on March 18 to print a dreaded death cross. An exponential moving average death cross typically precedes a major correction to the downside, in this case a downside target would be 2018’s low of $71. For this to come into fruition Bitcoin, as well as the entire cryptocurrency market, would need to correct to December 2018 levels. One saving grace for the cryptocurrency ecosystem is the upcoming block reward halving, which will see block rewards for miners slashed from 12.5BTC per block to 6.25BTC per block. The previous halving came in 2016 just before the staggering bull run in 2017 that saw Bitcoin rise to $20,000 and Bitcoin Cash to $4,200. From a short term perspective the key levels to look out for on the Bitcoin Cash chart are the $196 level of support and the $238 level of resistance. 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 . || COMM's New Project Launch Integrates Publisher and Hedge Funds on Blockchain: SINGAPORE / ACCESSWIRE / February 25, 2020 /When people talk about the biggest scientific publishers, the names Nature and Science are always included. The ongoing blockchain revolution is incubating such an excellent publishing house, that brings together different ecosystems and integrates breakthrough technologies. COMM merges into its innovative ecosystem the wisdom of an elite publisher with the profit-making power of a hedge fund, compensating contributors to both branches generously.
As the issuer of COMM the digital currency, Crypto Commonwealth is considered to be a most ambitious blockchain project. Its vision is to create a COMMunity that incentivizes effort and quality of publications, with the ultimate goal to create a journal as successful as Nature and Science. The project claims to have a strong network of researchers in top universities, and plans to invite more of them to join, as well as funding their research in academia. They intend to distribute 100% net publishing profit back to the authors, editors and reviewers, paying for their contributions in their native token COMM. Excellent contributions make the ecosystem stronger, encouraging and inviting more people to play a part within as everybody looks for incentives.
The Commonwealth Publisher offers three columns and targets for varied reader groups. The professional column 'Beta for Pros' is expected to cover topics typical financial journals would discuss, including macro and micro dynamics, market inefficiency, behavioral finance, strategy research, risk management and more. COMM also has two more columns intended for generic readers that serve as educational resources and crypto knowledge base, 'Beta for fun' and 'Crypto Insights'. They cover quantitative and fun crypto analysis, tokenomics and philosophies, as well as non-quantitative articles in the blockchain domain including crypto overviews, insights, token mechanism / algorithm, macro visions, blockchain techniques, etc.
The long term vision of the Commonwealth Publisher is to acquire high-quality, stable submissions and a good impact factor, then start charging subscription and publishing fees as any other commercial journals. More importantly, it plans to redistribute all profits after operational costs back to the authors, editors and reviewers. This is a closed cycle that is expected to nourish and sustain the ecosystem as it starts to gain momentum.
Crypto Commonwealth focuses not only on becoming a top tier publisher of all things, crypto or otherwise. It also envisions becoming a digital and traditional asset manager that outperforms BTC and the stock market in the long term. Its strategy construction follows the "trilemma in portfolio management". Under this model three variables are considered: high return, low risk, and high capacity. Those who have some experience investing in traditional or crypto assets, either in IPOs, ICOs, IEOs or directly in the secondary markets have learned, maybe the hard way, that it is not possible to embrace these three vertices simultaneously. For COMM the presence of two of these factors excludes the third as well.
It is on this understanding that high return and low risk exclude high capacity, such as in alphas and high frequency trading. Crypto Commonwealth itself encompasses hedge funds including the alpha fund "Sphinx" and the smart beta fund "Stonybrook" under the high return and low risk classification. It offers detailed, professional suggestions to help investors make the most informed decisions on investment products. Profit will be redistributed back to the ecosystem in decent proportion: up to 50% of management or incentive fee would be shared among excellent authors, portfolio managers, researchers and collaborators.
Strategy contributors can opt to be external or internal researchers. Internal researchers are expected to run backtests on the platform and submit alphas for centralized post-processing, including portfolio combination and optimization. However, this is by no means limited thereto. Upon proper evaluation, COMMs would be paid out as rewards, with a significant amount to be followed pending the alpha performance out-of-sample and in live trading. These of course are what could be considered the right steps to build a strong and wise COMMunity.
The COMM team has a strong background in global stock and crypto markets, having amassed a good number of lowly correlated strategies at their disposal. The project is seeking to tokenize, fundraise for and commercialize them under COMM's dedicated mainnet, together with publications from interested scholars and book authors as soon as circumstances permit. Those who have been following the cryptocurrency market recognize that tokenization of traditional markets, like commodities, futures, stocks, currencies, bonds, real estate, and publishing is promised to be way bigger in capitalization than all the current cryptocurrencies. As a real pioneer in strategy and publication tokenization, COMM will certainly build a supportive and productive atmosphere for strong portfolio managers and best selling authors across the globe to participate in its ecosystem.
A promising project, Crypto Commonwealth harbors the first scientific publisher and investment institute in house on blockchain. It's well backed by a COMMunity of investors, scholars, researchers and engineers. With its global payment network in play, COMM endeavors to redistribute profits fairly among its contributing members and disrupt the traditional model in both fields, benefiting the COMMunity and the public.
Whitepaper:https://cryptosmartbeta.com/wp-content/uploads/docs/whitepaper_en.pdfTwitter:https://twitter.com/CryptoSmartBetaFacebook:https://www.facebook.com/Crypto-Commonwealth-102262581218579/Telegram:https://t.me/Crypto_Commonwealth_EuropeTelegram channel:https://t.me/CryptoCommonwealth_ANNLinkedIn:https://www.linkedin.com/company/cryptocommonwealthYoutube:https://bit.ly/2wHQAU5
Media Contact
Company Name:Crypto CommonwealthPerson:Katula [email protected] site: cryptocommonwealth.coMain site: cryptocommonwealth.io
SOURCE:Crypto Commonwealth
View source version on accesswire.com:https://www.accesswire.com/577770/COMMs-New-Project-Launch-Integrates-Publisher-and-Hedge-Funds-on-Blockchain || Derivatives market liquidations push BitMEX’s insurance fund to all-time high, cut Deribit’s by almost half: Two major crypto derivatives markets have seen significant liquidations this week – but while one saw its insurance fund hit an all-time high, the other experienced a dramatic decline. Such market occurrences have led BitMEX's Insurance fund to hit an all-time high of 36,493 BTC. At the same time, the insurance fund maintained by Deribit has been slashed almost by half. The two crypto derivatives exchanges both have insurance funds to pay out the winning party of a trade when its gains cannot be fully covered by the liquidated side. Due to the decline, Deribit announced that it had injected 500 BTC of the company's own funds into the insurance fund, which dropped from 392 BTC on Wednesday to 198 BTC as of Friday. According to the announcement, this move is to prevent liquidation losses from draining the insurance fund and eventually being socialized among users. "Due to extreme volatility, we have seen a significant impact on our BTC insurance fund. In order to prevent socialized losses we have decided to support the insurance fund and strengthen it by injecting 500 BTC of company funds. This has paid off and has protected clients from further losses as the current balance is below that amount," stated the announcement. While Deribit grows its insurance fund by charging fees on executing liquidation orders, BitMEX's fund increases when liquidations are "executed at a price better than the bankruptcy price." This means that when traders are liquidated before hitting the theoretical maximum of their positions, the fund pockets the difference between the two positions. As of the time of writing, a staggering $1.6 billion had been liquidated on BitMEX, boosting the exchange's insurance fund in the last 24 hours. As The Block reported earlier today , the fund lost only 1,627 bitcoins from March 11 to March 12 and saw its balance surged 7.7% since then. View comments || Your Evening Briefing: (Bloomberg) -- Markets on Tuesday recovered some of what they lost Monday, but it’s becoming clear that the coronavirus has exposed a dangerous weakness in the U.S. economy: heavily leveraged companies. Business debt now exceeds that of households for the first time in almost three decades. Moreover, borrowing has been concentrated in riskier companies with fewer financial resources to ride out the current crisis. A wave of defaults could intensify the economic impact of the global epidemic. According to Bloomberg Economics, the chance of a downturn in the next 12 months just rose to 53%, its highest level since the Great Recession ended some 11 years ago. We’re tracking the latest on the coronavirus outbreak and the global response. Sign up here for our daily newsletter on what you need to know. Here are today’s top stories Having assumed a 670-574 lead in delegates, former U.S. Vice President Joe Biden faces Senator Bernie Sanders in six Democratic presidential primaries today. Thanks in part to weeks of delay by the Trump administration and its bungled distribution of working Covid-19 test kits, America has lost the chance to control the outbreak in some places, the director of the Centers for Disease Control and Prevention said Tuesday. Health and Human Services Secretary Alex Azar claimed there’s now a surplus of those tests. New York Governor Andrew Cuomo responded that Azar is wrong, and that the Empire State desperately needs more. Cuomo sealed off part of a New York City suburb where cases have spiked. There are 793 confirmed cases in the U.S. and 27 dead. Worldwide, cases jumped past 117,000, with more than 4,200 dead. The CDC warned that U.S. hospitals may have a difficult time handling an influx of Covid-19 patients. Because of a strong, late flu season, America’s hospitals are already at 95% capacity or higher. Official data on employment, inflation and GDP will one day show the effect of the coronavirus on U.S. economic activity. But there are five signs that show how consumers are reacting right now. Story continues This London-based hedge fund rarely loses. In 2020, things are different for LMR Partners. It’s had its worst start ever. What’s Joe thinking about today? If you can believe it, the Bloomberg news director is talking Bitcoin, but there’s a good reason: Joe says the cryptocurrency provides lessons for the current market carnage. While there’s strong demand for haven assets, you can get to a point where volatility is so extreme that some stop providing much of a return. What you’ll need to know tomorrow Saudi Arabia and Russia are escalating their oil price war. The Robinhood brokerage app maxed out its credit line. Barclays and BlackRock employees in NYC test positive for virus. Goodbye hot U.S. housing market: Covid-19 may soon crush it. College towns are clearing out, leaving local businesses hanging. The New York auto show has been delayed until August. March Madness without fans won’t hurt ratings, broadcasters say. What you’ll want to read tonight Virus May Cut $6 Billion in St. Patrick’s Spending St. Patrick’s Day is one of the biggest revenue-generating days of the year for many bars, and a boon for liquor and beer brands that associate themselves with the March 17 holiday. Americans were expected to spend $6.2 billion on the event. But now, maybe not so much. To contact the author of this story: David Rovella in New York at [email protected] To contact the editor responsible for this story: Joshua Petri at [email protected] For more articles like this, please visit us at bloomberg.com Subscribe now to stay ahead with the most trusted business news source. ©2020 Bloomberg L.P. || Speculative bet or inflation hedge? Bitcoin in the coronavirus crisis: By Tom Wilson and Ritvik Carvalho LONDON (Reuters) - Bitcoin has fared better than stocks but worse than gold and U.S. Treasuries during the coronavirus pandemic, with investors ascribing its performance to speculative bets and bids to hedge against inflation linked to stimulus measures. Enthusiasts have laid out numerous narratives for bitcoin as an investment proposition through its first 12 years - from a rebel technology set to upend the financial system to a groundbreaking payments network; from an uncorrelated asset to a hedge against inflation-inducing government policies. Here are some charts that illustrate bitcoin's price performance during the coronavirus pandemic - and offer some clues as to what is driving investor behaviour. (Graphic: Down but not out: Bitcoin outperforms stocks in 2020 IMAGE link: https://fingfx.thomsonreuters.com/gfx/mkt/jbypryqdveo/Pasted%20image%201587467959586.png) OUTPERFORMING STOCKS Bitcoin has this year done better than both U.S. and world stocks, posting a loss of around 5% compared to respective drops of 13% and 16% for the S&P 500 and MSCI All-Country World Index. Like equities and other riskier assets, bitcoin surged in the wake of unprecedented stimulus packages launched by governments and central banks in mid-March to mitigate the economic damage caused by the coronavirus. The cryptocurrency has soared 80% since mid-March, partly because it offers the chance of quick returns as the stimulus measures wash into markets, investors and traders said. Bitcoin and cryptocurrencies have appealed to investors as "they can offer a potentially higher risk-reward scenario that they cannot find in other assets", said Michael Sonnenshein, managing director of Grayscale, the world's biggest cryptocurrency asset manager. SAFE HAVEN? MORE AN INFLATION HEDGE, INVESTORS SAY Enthusiasts say bitcoin is immune to the impact of geopolitical tensions or government policy because of its decentralised nature. Unlike central bank-issued money, miners competing to solve computer puzzles produce bitcoin. Story continues With a supply capped at 21 million, the argument goes, its scarcity gives it an innate value and shields it from central banks moves or policies that stoke inflation. But in 2020, bitcoin fared worse than traditional safe havens like gold, up 11%, and U.S. 10-year Treasuries, gains on which have climbed 14%. On March 12, when bitcoin crashed 40% to its worst single day since 2013, other so-called safe havens proved far more resilient. "The idea that it is a safe haven in the manner that gold is - I don't think recent moves bear that out," said Sui Chung of CF Benchmarks, a crypto benchmark provider. Bitcoin's gains, some investors say, were driven in part by bets it can hedge any future inflation caused by government stimulus measures. "It's not just the U.S. story, but more or less every major government is doing that to a similar magnitude," said Richard Galvin, of crypto fund Digital Asset Capital Management. "You don't have many options to hedge that risk." (Graphic: Bitcoin as a safe haven? 2020 returns suggest not IMAGE link: https://fingfx.thomsonreuters.com/gfx/mkt/rlgpdyozvoj/Pasted%20image%201587468131390.png) BETTING ON PRICE SWINGS Bitcoin's notorious volatility has hobbled its use as a means of payment and scared off large, long-term investors such as pension funds - but attracted hedge funds and high-frequency traders, who make money on short-term price moves. While volatility has gripped markets of all stripes during the coronavirus crisis, bitcoin's price moves have soared - a boon for speculative traders who seek to trade on spreads across multiple platforms, major crypto exchanges say. "You have high-frequency trading firms that trade on the scent of the spread to make money," said Paolo Ardoino, chief technology officer at the major Bitfinex exchange, adding that they are rarely concerned with narratives surrounding bitcoin. "Whether it's milk or potatoes or bitcoin, they would trade anything - so they really don't care about the philosophical point of view." (Graphic: Bitcoin volatility IMAGE link: https://fingfx.thomsonreuters.com/gfx/mkt/nmopagbkpab/bitcoinvol.png) SOARING VOLUMES As bitcoin volatility jumped, major cryptocurrency exchanges saw huge spikes in volume in mid-March. Many investors sold off bitcoin - like other assets - to raise cash for margin calls, analysts said. Daily volumes at the world's top exchanges jumped to $21.6 billion on March 13, their highest in seven months and among the highest on record, research firm CryptoCompare said. Trading of crypto derivatives such as bitcoin futures - often favoured by high-frequency traders - also climbed in March to its highest on record. (Graphic: Cryptocurrency volumes jump in March png link: https://fingfx.thomsonreuters.com/gfx/editorcharts/gjnvwnbbpwr/index.html) (Reporting by Tom Wilson and Ritvik Carvalho; Editing by Nick Macfie) || 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
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 7117.21, 7429.72, 7550.90, 7569.94, 7679.87, 7795.60, 7807.06, 8801.04, 8658.55, 8864.77
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2020-10-26]
BTC Price: 13075.25, BTC RSI: 79.12
Gold Price: 1902.70, Gold RSI: 48.55
Oil Price: 38.56, Oil RSI: 42.47
[Random Sample of News (last 60 days)]
Money Reimagined: Fixing the Internet’s Big Flaw: After reading this newsletter, make sure you check out the latest edition of our podcast.
This week, Sheila Warren and I talk to Hyperledger Executive Director Brian Behlendorf about self-sovereign identity, the topic of the column below. A developer whose three-decade career has seen him deeply involved in efforts to foster a more open internet, Brian grasps, like few others, the nuances of how human beings should live within a rapidly changing digital economy.
We tend to think of governments, with the data they collect on births, drivers licenses, tax returns and passports, as humanity’s primary identity managers.
Related:Blockchain Bites: Bitcoin Crosses $11K While DOJ Takes Aim at Crypto
Arguably, internet platforms have usurped that role. Some store more identifying records than China – Facebook has 2.7 billion active users; Google manages 1.5 billion email accounts. Just as important, they can tie those records to our online behavior and gather immense predictive power. Facebook’s algorithm evenknows if you are going to break up with your partner – before you do.
This isn’t another Facebook-bashing column. It’s just that its all-knowing power highlights how the fundamental human question of identity has changed in the internet age.
It also illustrates why we need a new “self-sovereign” model of identity to match our digital existence and why the latest moves toward that deserve widespread support.
Anoriginal sin was committed at the internet’s conception: its underlying, decentralized architecture was built without an identity layer.
Related:Getting Internet Identity Right, 30 Years On
The internet’s founders had good intentions. To ensure universal availability, the system controlled access by assigning addresses to computers but was agnostic about the identities of the people, companies and devices using them. As afamous New Yorker cartoonquipped in 1993, “On the internet, nobody knows you’re a dog.”
This became a problem when entrepreneurs started building e-commerce businesses in the 1990s. Users needed to trust the person on the other side of a transaction, which, according to offline practices, meant identifying them to hold them accountable.
So a jury-rigged solution was installed at the internet’s application layer. Certification powers were introduced, allowing web-based companies to gather and verify users’ identifying information. Over time, this gave rise to a new class of immensely powerful gatekeepers.
We ended up with the worst of both worlds. On the one hand, end users still don’t know who’s controlling disinformation bots. On the other, as CoinDesk’s Ben Powers put it ina great contribution to our “Internet 2030” series, the centralized data gatherers “not only know you’re a dog, but also what breed you are, what your favorite kibble is and whether you’ve been microchipped.”
This power asymmetry has fueled asevere deterioration in societal trust, and solutions have been hamstrung by a pre-internet mindset. We’ve placed responsibility for policing behavior with intermediaries, which has further empowered centralized data gatherers.
This contradicts the internet’s decentralized, identity-free base layer, creating unique opportunities for abuse. Web sites accumulate giant honeypots of personal identifying information (PII), which are constantly breached by unidentified hackers.
Meanwhile, even though companies complain about the liability in storing user data, they find it hard to resistsurveillance capitalism, the data-exploitation practice that has become the core business model of the internet.
We need a new mindset. Because the internet’s underlying architecture is decentralized, the identity solution must also be decentralized. Control over PII must reside with those to whom it refers – with you and me, in other words. This is the principle behind the “self-sovereign identity” (SSI) movement.
Let’s be clear: This isn’t easy. Identity is an extremely complex concept.
In the metaphysical sense of “who I am,” identity is at once highly personal and completely social. We value a unique selfhood, but it’s meaningless without reference to the society within which that self exists.
It’s also fluid and multilayered. We occupy – or “perform”– different versions of our identity, or personas, depending on context. We all play a different persona in job interviews than the one we play at home with family.
And in the wider economy, where proofs of identity solve the deep-seated challenge of trust, allowing us to transact, what matters is not our selfhood but the distinctattributesthat comprise it. Do you have a degree? A driver’s license? A credit score over 740? These are isolated attributes. They are not our identity per se.
With SSI, sophisticated cryptography allows individuals, as sole custodians of their data, to prove they have the credentials that describe their attributes and selectively reveal them in an encrypted form to service providers.
In an oft-cited example conceived by identity expert David Birch, you could legitimately enter a bar after furnishing a cryptographic proof that answersonequestion: Are you over the designated drinking age? The bar owner doesn’t need to know all the other information displayed on your driver’s license: not your name, your address, your license number or even your actual birthday.
A host of entities are working on SSI, from big players likeIBMandMicrosoftto startups such asGatacaandHyland Credentials. Some governments, including the Canadian province of British Columbia, are supporting special ID apps for their constituents.
Still, standardization across the internet will be critical. An important piece is thedecentralized digital identifier, or DID, being developed within the world wide web consortium, or WC3. Groups of tech and finance heavyweights have also formed associations to promote open-source collaboration, including theDigital Identity Foundationand theTrust Over IP Foundation.
Within the standard SSI model, blockchain technology plays an important but minor role currently. Some SSI projects have dabbled in tokenization to raise funds and incentivize stakeholders such as credential providers. But thetroubles caused by the Sovrin Foundation’s token sale have quelled enthusiasm for that.
A blockchain is not used for storing identifying data. That’s up to the individual data owner, who could choose to store it on a hard drive, for example, or with a cloud account he or she controls. Rather, a blockchain is used as a public key registry and management system to prove the private keys with which a user enables access to encrypted credentials are associated with the right person or company. In this way, a hospital can decode and validate medical records shared by a patient, while keeping its privacy compliance officer satisfied the patient is indeed authorized to do so.
More important is how SSI could help other blockchain applications. If decentralized finance (DeFi) applications are to spread to traditional finance, for example, there must be a way to identify market participants without inserting a centralized authority into a necessarily decentralized environment.
The most important use case for SSI lies in protecting our humanity. In an age when data leads to economic domination, shifting control to those who generate it is a really impactful way to empower individuals.
Instead of thinking of digital data as a sinister threat to our privacy, SSI could turn it into an asset sold or used to get credit or obtain other services. Think of people who live without credit cards and can’t generate credit scores but whose trail of internet connections – their so-calledweb of trust– show a history of fulfilling commitments.
Within an SSI framework, we can use our data to safely connect our identity to the society with which it is intrinsically associated. We could map and measure our social connections, capture that data as an attribute and then communicate it to others so they’ll trust us enough to transact.
Courtesy of COVID-19 and the public interest in contact tracing, there’s now an immediate use case for this kind of controlled measurement of social activity. It’s why Hyperledger Executive Director Brian Behlendorf, appearing in this week’s Money Reimagined podcast, argues the first prominent deployment of SSI would come next year in the form of a “digital yellow card” for vaccination records.
Whether we like it or not, society is digitalized and decentralized. We need an identity system that aligns with that.
The “phssssssttttt” sound you hear? It’s the DeFi bubble deflating.
After a stunningly buzzy summer for decentralized finance, when new wild-idea projects were being announced on a daily basis, bringing new speculative money surging into the DeFi ecosystem, the once-soaring prices for those projects’ tokens have fallen sharply and deeply. This chart of DeFi-wide market capitalization over the past six months, produced by CoinDesk’s Shuai Hao, tells the story.
It shouldn’t come as a huge surprise. This had all the hallmarks of a bubble, with some parallels to the initial coin offering (ICO) mania of 2017. (Though there was nowhere near the kind of speculative investment byretail crypto “newbies”that we saw three years ago, partly because this is an inherently more complicated space.)
But I for one think the DeFi bubble contained something very exciting, more so than the ICO bubble, though both are important for reasons that are lost when people dismissively focus on investors’ crazy excesses. (I subscribe to Carlota Perez’stheory of technological revolution, where excessive speculation is treated as a fundamental, unavoidable and even necessary element of how new technology is introduced to society, how it breeds innovation “waves” and “surges.”)
Among the most interesting aspects of it was how DeFi’s composability enabled “lego” innovation, where one new protocol became a building block for a new developer to build their next new innovation on top of it and how that new idea breeds its own new surge of speculation. In the process, an entirely new decentralized financial system is being organically created and incentivized.
That effect plays out if you look underneath the overall market DeFi bubble at the trends shown by individual governance tokens. In this second chart from Shuai, we zero in on the“DeFi summer”that began in mid-June and on two governance tokens in particular, Compound’s COMP and Yearn.Finance’s YFI. You can spot quite separate mini bubbles within the one maxi DeFi bubble. By the end of June, COMP had already peaked, before YFI had even been launched. Both are now down, but the chart shows that the timing of their respective mini-bubbles isn’t very correlated.
Will there be a revival of the DeFi? I think so. Hopefully in a more orderly way, through the long-tail consolidation phase. You can’t stop innovation. And who doesn’t like playing with Legos?
FCA FAIL.Crypto regulators might mean well. But sometimes they can be extremely out of touch with the realities of a market that’s global, nimble and easily enables entirely legal workarounds against the rules those regulators put in place. As commentatorAjit Tripathi points out, the U.K. Financial Conduct Authority’s move to ban crypto derivatives seems to be an overzealous effort to save British residents from themselves – a rather pointless one, at that, because it will just drive them into unregulated overseas markets, where they can harm themselves to their hearts’ content.
As with the DeFI craze described above, it’s very hard to stop people from speculating in a way that’s more or less the same thing as gambling. And as Triphati observes from his home in the U.K., it seems to go against a British way of life. “We live in the country of racehorses and epic sports betting,” he writes. “We are legendary gamblers, and it’s one of the traits that made Britannia rule the seas for at least four centuries, and then run global investment banking for at least one. When asked to stop, we tend to simply gamble elsewhere (e.g., in shadow banking instead of banking).”
While derivatives in general have a reputation for being, as Warren Buffett said, “weapons of financial destruction,” they do ultimately serve a real purpose in fueling overall liquidity and enabling sophisticated risk management. If you believe, as I do, that blockchains, tokens, smart contracts and decentralized exchanges will eventually evolve to a point that they form the foundation of a new financial system, the emergence of that more mature derivative market structure will benefit everyone, not just crypto speculators. Since crypto markets are still in their infancy, the speculative part naturally gets more attention than that market structure aspect right now. But the only way to get to the latter is through the former. Banning it isn’t constructive.
MONEY MAXIGELISTS.It’s not uncommon for people to describe crypto believers as members of a cult. Typically, that reference just refers to their fanaticism. Butthis pieceby a fan of the privacy coinzcash, who uses the name Sixten Hodler, takes it to an entirely different level. The writer coins the term “maxigelism” – a portmanteau of “maximalism” and “evangelism” – to describe the zealotry of early Christian missionaries, who combined an insistence on their being only one true God with the claim that any disbelievers would go to hell, and compares it with a logic that will eventually deliver mass adoption of zcash, or “HyperZcashization.” Whether you swallow the argument or not, it’s a wild read.
Sixten Hodler claims that Bitcoin’s protocol – and the most fervent supporters – are like Judaism, which the writer describes as a solely maximalist position. (And indeed, Bitcoin maximalism, which rejects the legitimacy of all other cryptocurrencies, is a term used by many diehardbitcoinbelievers to describe themselves.) Both are exclusionary in that they have no room for other gods or currencies yet, Sixten Hodler maintains, both are also “missing the terrifying incentive that made Christianity evangelist.”
It’s zcash, which establishes the value of its privacy features as protection against the impending threat of the “surveillance state,” that best captures that early expansion in Christianity after it was created as a “fork of Judaism,” a nod to the idea that zcash is a fork of bitcoin. Bitcoin maximalists, with their belief in “radical transparency,” do not want their religion/currency community to grow too far, as that would expose users to the encroachment of the surveillance state, much as the Hebrews were always eager not to give imperialists an excuse to oppress them.
So, there you have it.
Square Puts 1% of Total Assets in Bitcoin in Surprise $50M Investment.Square is now the second mainstream, public company to decide that a decent chunk of the excess cash on its books should be held in bitcoin, the other being Microstrategy. This is an interesting trend. Not a big surprise that bitcoin rose on the news Friday. Here’s how CoinDesk’s Danny Nelson reported it.
Stablecoin Growth Knocks Silvergate Exchange Network Volume Over $100B. Silvergate is profiting from its status as the most crypto-friendly bank and taking advantage of the growing use of dollar-pegged stablecoins as a fluid way to move money around and into and out of other cryptocurrencies. Now that banks have been greenlighted by the Office of the Comptroller of the Currency to provide digital asset services, will others follow suit? Nathan DiCamillo reports.
The Top Universities for Blockchain. Education is vital if blockchain technology is to scale to the extent that it can be relevant to all of the world’s 8 billion. So CoinDesk is proud to reveal its rankings of the top U.S. universities servicing this sector, a selection based on the most comprehensive and rigorous process applied to date. (Full disclosure: The top-ranking university was MIT, where I was previously on staff within its Digital Currency Initiative and remain as an unpaid adviser. I had no involvement in the selection process.)
• Money Reimagined: Fixing the Internet’s Big Flaw
• Money Reimagined: Fixing the Internet’s Big Flaw || Prosecutors Detail Russians’ Crypto Phishing Scheme in Forfeiture Suit: The two Russians who were sanctionedearlier this weekby the U.S. Treasury Department on accusations of being crypto thieves allegedly got their millions through market manipulation and phishing.
Prosecutors detailed Danil Potekhin and Dimitrii Karasavidi’s alleged heists, victims and target exchanges in a 30-page forfeiture complaint filed Wednesday against the pair’s previously seized crypto funds.
• Karasavidi and Potekhin allegedly “deployed” a series of bogus Poloniex, Gemini and Binance lookalike sites that duped unwitting users into sharing their login credentials, giving the hackers control of wallets.
• They then “drained” $20 million worth ofbitcoin(BTC),ether(ETH) and NEO from victims’ accounts, according to the complaint. Prosecutors said the lion’s share ended up in Karasavidi’s Bitfinex account.
• Other funds were frozen by Poloniex and quickly seized by authorities, who filed the lawsuit to take control of 15,602 ETH, 199.8 BTC, $6.1 million in cash and 1,199 NEO, a total worth $14.2 million at press time.
• That ETH haul was actually the product of a separate hacker scheme: market manipulation, authorities say.
In late October 2017, hackers pumped $5 million of one victim’s crypto into NEO’s Gas market, skyrocketing the usually sleepy token’s value 13,000% before ordering their personal gas-holding Poloniex accounts to cash out into ETH. The victim “lost virtually all of his $5 million in cryptocurrency,” prosecutors alleged.
• Prosecutors also claimed the hackers attempted to cover up the stolen crypto’s origin by “layering” funds – a classic money-laundering technique.
• Treasury officials said they used “blockchain tracing analysis” to follow the ETH from the Poloniex manipulation and the Poloniex, Binance and Gemini phishing schemes into Karasavidi’s Bitfinex account.
• They further claimed to have identified Potekhin as the owner of multiple misspelled Poloniex domain names linked to the phishing scheme.
• Similar tactics were used against Binance and Gemini customers, the regulator said in the lawsuit.
Related:Cryptopia Users Can Claim Assets from End of 2020, Says Hacked Exchange's Liquidator
Karasavidi and Potekhin face a mounting lineup of legal troubles. This week,they’ve been addedto the Treasury Department’s OFAC blacklist and also face federal wire fraud, hacking and money laundering charges.
• Prosecutors Detail Russians’ Crypto Phishing Scheme in Forfeiture Suit
• Prosecutors Detail Russians’ Crypto Phishing Scheme in Forfeiture Suit
• Prosecutors Detail Russians’ Crypto Phishing Scheme in Forfeiture Suit || Bitcoin derivatives exchange Bitnomial raises $11.6 million from investors, per filing: Bitcoin derivatives marketplace Bitnomial has raised $11.6 million from investors, according to a new public filing.
In an October 5filing, the firm said it raised the money from 13 different investors, with the first sale dated September 18.CoinDeskfirst reported the fundraising amount.
The Blockpreviously reported that Bitmonial was seeking to raise as much as $10 million in Series B funding. The money from this fundraising period would support the company’s ambitious plans to create a market-leading bitcoin exchange in the U.S.
Back in April, Bitnomial was one of the select few U.S. businesses to gain approval from CFTC to manage a designated contracts market (DCM). Such approval allowed Bitmonial to offer bitcoin futures and options, as The Block previously reported.
© 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. || PayPal’s Crypto Offering May Be ‘a Huge Headache’ for Taxpayers: PayPal’s decision last week to embrace crypto may help with mainstream adoption, but it could also mean additional tax work for users unfamiliar with the crypto landscape. Over the next few weeks PayPal will be rolling out buy, sell and hold features for cryptocurrencies on its platform to U.S. users, but the service will not allow users to withdraw or deposit holdings. According to Internal Revenue Service rules, cryptocurrencies like bitcoin (BTC) are treated like property; therefore, each time someone buys, sells or exchanges a digital asset it is considered a taxable event wherein the capital gains tax applies. Related: PayPal-Backed Blockchain Analytics Firm Hires Former US Treasury Adviser Under PayPal’s plans to make cryptocurrencies a “funding source” for purchases at its 26 million merchant customers, this will also apply to situations such as paying for a cup of coffee using BTC via PayPal, where the transaction could incur a capital gain or loss of a few cents. Because PayPal said transactions with merchants would be settled in fiat, each time the platform converts a user’s crypto to cash a tax obligation is created. Read more: Crypto Long & Short: Why the PayPal Rally Isn’t What It Seems, and Why That’s OK “The accounting on this would be a huge headache,” said Stephen Turanchik, a tax attorney at law firm Paul Hastings and member of the AICPA’s virtual currency task force. He pointed out that regardless of crypto being involved, PayPal and Venmo can add a lot of accounting work because of the variety of transactions that occur on these platforms. Adding crypto to the mix could make it more challenging to capture all the transactions and associated capital gains or losses, especially if users mix business and personal payments on these platforms. Related: Tax Payers Needn't Disclose Merely Holding Crypto: IRS Draft 2020 Guidance According to Kirk Phillips, a certified public accountant (CPA), while PayPal may help springboard crypto adoption, the tax ripple effects are also likely to depend on how good a job it does on reporting. As a payment processor, PayPal is required to issue Form 1099-Ks to users and the IRS if an account holder’s total proceeds go over $20,000 and includes more than 200 transactions in a calendar year. Story continues Regardless of whether they meet that requirement, all users will also be able to see their transaction history and account statements through their PayPal account. While the forms and transaction history can be helpful, these documents may not be sufficient for tax purposes because users will also need to keep track of the base price they bought the digital asset for, how much they spent on it, how long it was held before being sold and the price for which it was sold. Venmo, which is heavily used for small purchases, could complicate this trail a little more. “We’re gonna see more and more micro purchases, and the importance of some sort of de minimis (too minor to merit consideration) exception might become greater,” said Lisa Zarlenga, co-chair of the tax group at law firm Steptoe & Johnson LLP. Read more: PayPal’s Move Is Good for Crypto Adoption but Not So Much for Profits: Morgan Stanley She pointed out these transactions are currently treated as capital gains or losses, no matter how small, and therefore are taxable events. A best practice for users might just be to focus on keeping well-maintained records of their crypto interactions, she said. Although PayPal’s embrace of crypto promises to bring digital assets to a mainstream base of users, the demanding tax rules may also lead to early stumbles from some of them. For now, a simple practice to start with may be to avoid using emoticons in the memo line for Venmo or PayPal transfers. Related Stories PayPal’s Crypto Offering May Be ‘a Huge Headache’ for Taxpayers PayPal’s Crypto Offering May Be ‘a Huge Headache’ for Taxpayers || 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 theCanadian 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 andself-proclaimedbitcoin 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.”
I bring this up as Matt McCall just launched a new altcoin service calledCrypto Investor Networkwith 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 byCrypto 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 byclicking 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 postTwo Experts, Same Forecastappeared first onInvestorPlace. || ALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BCH: NEW YORK, NY / ACCESSWIRE / September 9, 2020 /ALT 5 Sigma Inc. an emerging leader in blockchain powered financial platforms provides its daily digital instruments market summary for Bitcoin (BTC/USD), Ether (ETH/USD), Litecoin (LTC/USD).
Real-Time Market Data is available atwww.alt5pro.comand Real-Time Market Data feed is also available atwww.alt5sigma.comALT 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.
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SOURCE:ALT 5 Sigma Inc.
View source version on accesswire.com:https://www.accesswire.com/605457/ALT-5-Sigma-Digital-Instrument-Market-Summary-for-BTC-ETH-LTC-BCH || Why Bitcoin’s Longest Run Above $10,000 Matters: Bitcoin has been above $10,000 for even longer than the record 2017-18 run, giving confidence to long term HODLers in the process.
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.
• After four weeks down, bitcoin bounces back on suspicions that recent bearishness was overblown
• KuCoin exchange gets hacked for somewhere between $150 million and $280 million
• Jack Dorsey outlines Twitter’s blockchain and bitcoin beliefs during Oslo Freedom Forum appearance
Related:First Mover: Binance CEO Sees Future in DeFi While Bitcoin Volatility Turns Minuscule
See also:Understanding the Coming Currency Cold War
Bitcoin has been above $10,000 for longer than any time in its history. Its volatility is also at recent historic lows. In this episode, NLW puts this in the context of broader market movements and explains why new price floors are self-reinforcing.
• Why Bitcoin’s Longest Run Above $10,000 Matters
• Why Bitcoin’s Longest Run Above $10,000 Matters
• Why Bitcoin’s Longest Run Above $10,000 Matters || First Mover: Day in the Life of a Yield Farmer Means Part-Time Gig, Full-Time Risk: One is a Grammy Award-winning musician with lots of spare time. Another is a software engineer with nowhere to go during the pandemic. There’s also an editor for a data site and a fund manager who invests in digital assets.
What these people have in common is an obscure side gig known as “yield farming,” a type of cryptocurrency trading and investing that didn’t really even exist until 2020. Yield farming is producing fixed income-like returns that can, at least for brief stretches, provide annualized interest rates equivalent to percentages investors cannot find anywhere else.
As documented in First Mover over the past few months, the yield farming boom, itself a subsector within the fast-evolving realm of decentralized finance, or DeFi, started in June when the projects Compound and Aave launched. They were soon followed by Kyber, Balancer and Yearn.Finance. More creative names like Spaghetti, Tendies and SushiSwap followed.
Related:First Mover: Bitcoiners May Not Care if Dollar Keeps Its Reserve Status
CoinDesk’s Daniel Cawrey spoke to four yield farmers to get their stories. Here’s a link to hishighly recommended piece, along with a video interview he conducted with André Allen Anjos, also known as RAC, who finds time for yield farming in his spare time, when he’s not producing and recording music.
Read More:Meet the Yield Farmers Plowing Cryptocurrency’s Riskiest Trend
Bitcoin’s low volatility consolidation continues as the dust settles on the BitMEX controversy.
On Thursday, the U.S. authorities charged the crypto derivatives exchange for facilitating illegal transactions.
Related:Bitcoin's Options Market Retains Long-Term Bull Bias Despite Sluggish Price
Initially,bitcoinfell from $10,900 to $10,450 but recovered to $10,500 on the following day. The cryptocurrency held ground even though the regulator probe triggered massive outflow of bitcoins from BitMEX and the drop in the futures open interest, a sign of panic among traders.
However, while the cryptocurrency has jumped to $10,700 over the weekend, it remains trapped in a contracting triangle, as seen on the daily chart.
A breakout would confirm an end of the pullback from the August high of $12,476 and a reversal higher. That would expose resistance lined up at $11,183 (Sept. 19 high).
Alternatively, a range breakdown may invite a stronger chart driven selling pressure.
– Omkar Godbole
Read More:Open Interest in CME Bitcoin Futures Slides as Market Sapped by Surging DeFi
Bitcoin (BTC):180-dayvolatility falls to lowest mark since November 2018as market mostly unfazed by President Donald Trump’s positive coronavirus test and U.S. charges against BitMEX cryptocurrency exchange.
Ripple (XRP):Job listing indicates XRP-affiliated blockchain sponsor is preparing to launch anext-generation trading platform.
Hybrid decentralized exchanges with on-chain custody and a centralized off-change trade-matching engine could prove next market evolution, IDEX CEO writes (CoinDesk Opinion)
SEC Chair Jay Clayton says U.S. regulator is open to the idea of a tokenized ETF (Decrypt)
Binance, Gemini and Kraken appear to be benefiting from bitcoin flows as traders defect from BitMEX following CFTC, DOJ charges (CoinDesk)
Coinbase employees reportedly take up CEO Armstrong’s offer for severance adopting policy on non-engagement with societal issues (CoinDesk)
Bitcoin use rises in Egype amid economic recession (Cointelegraph)
Pandemic could accelerate depletion of U.S. Social Security trust fund reserves (Brookings)
Movie-theater chain Cineworld closing U.S. and U.K. locations, including Regal chan (FT)
U.S. Treasuries lose their edge as hedge against stock-market plunge (WSJ)
Negative-yielding bonds could profit from deflation, currency swings (WSJ)
• First Mover: Day in the Life of a Yield Farmer Means Part-Time Gig, Full-Time Risk
• First Mover: Day in the Life of a Yield Farmer Means Part-Time Gig, Full-Time Risk || CryptoLocally Partners With Swingby to Bring Native Bitcoin P2P Trading: Hong Kong, Sept. 21, 2020 (GLOBE NEWSWIRE) -- CryptoLocally, the leading non-custodial peer-to-peer crypto trading platform, is excited to announce today its deep technology partnership with the decentralised token swap protocol Swingby Skybridge. Limitations on Bitcoin’s composability have historically made it difficult to use it in the smart contracts that power peer-to-peer exchange platforms and instead require traders to swap the native coin for a wrapped version elsewhere, such as on a CEX, before moving it to a smart contract powered service like CryptoLocally – often adding in extra fees, custody risk, and KYC requirements. The partnership with Swingby will enable traders to send native Bitcoins through Cryptolocally. Incoming native Bitcoins will be routed through Swingby’s trustless “Bitcoin to Binance-chain” bridge “SkyBridge”, allowing for the BEP2 1:1 pegged assets to be used within the platform’s escrow smart contract. This will remove the need for third party custody exchanges and enable a long awaited feature for the CryptoLocally community that currently transact over $350k USD per month on the platform. Swingby’s advanced threshold-signature and MPC technology will enable the Cryptolocally to support the most liquid digital assets in the world, including Bitcoin, the $200 Billion market cap asset. CryptoLocally Co-Founder and chief engineer Jae Chung described the Swingby Skybridge as “the missing piece” needed in order to achieve the goal of offering even more token variety for trading, adding, “Swingby's Skybridge matches CryptoLocally's mantra perfectly — fast and non-custodial. We're very excited to bring this partnership to life and improve the trading experience for our users.“ Internal estimates predict that the addition of the native Bitcoin chain to the platform could conservatively triple the monthly trading volumes sending them over $1m USD per month. “We see ourselves as the ‘enablers’ of DeFi. Bridging together decentralised protocols and bringing the most liquid digital asset in the world, Bitcoin, into the ecosystem is our main mission. Our partnership with Cryptolocally is a great step in that direction and we are really excited to begin working with their team. By providing a trustless bridge between native Bitcoin and Binance-chain for each trade, the Swingby protocol can expect to process a few million dollars a month in baseline transaction volume and bring those volumes to our node stakers, whilst also facilitating more Bitcoin adoption on the CryptoLocally platform.” said Yusaku Senga, the founder and CEO of Swingby, adding “Once we have fully integrated our new groundbreaking one-round signing cryptography, and integrate Lighting Network in 2021, peer-to-peer trade times could be reduced to minutes or even seconds, giving the CryptoLocally platform a huge competitive advantage in the space.” Story continues About CryptoLocally CryptoLocally is a leading P2P cryptocurrency trading platform. Our platform is non-custodial and uses a smart contracts escrow to provide additional security to users. Throughout the trading process no third party, including CryptoLocally, will have full control of the users’ crypto assets. That way, CryptoLocally remains a truly decentralised trading platform. The platform recently released a DeFi feature that allows users to earn interest on ETH, DAI, USDT, USDC, and GIV, our native token. Integrating the trading platform with DeFi capabilities and designing both to be easy to use have turned CryptoLocally into a viable pathway to financial inclusion for the 1.7 billion people still living without access to financial services. CryptoLocally recently closed a private sale of our native token, GIV. Investors included FTX , IOSG Ventures , NGC Ventures , Genesis Block , and One Block Capital . The GIV public sale will be held soon. About Swingby Swingby Labs was launched in Singapore in 2018 by a group of crypto enthusiasts joining forces to make the tools to connect Bitcoin with other blockchains. Swingby’s bridge protocol, Skybridge , builds trustless bridges between BTC, Ethereum, Binance Chain and other blockchains secured by a network of nodes that execute fast token swaps using layer 2 ‘multi-party computing’ technology. Skybridge allows users to move Bitcoin tokens between the Bitcoin, Ethereum, and Binance Chain blockchains without relying on a central custodian, opening up a world of DeFi capabilities such as liquidity pooling and trading with easy to use UX. Users can swap their coins across chains using self-custody wallets and there's no logins or KYC. The Skybridge testnet bridge has transacted over $14 Billion in testnet BTC capital between the Bitcoin and Binance Chain blockchains, and its decentralized technology has been fully battle tested in live high volume environments. In early 2021, Swingby plans to launch its Ethereum MainNet, bridging Bitcoin capital to an ecosystem which already has over $750MM in Bitcoin capital locked up in DeFi contracts. Building on exciting partnerships with projects such as Elrond, Waves and Kira Network, Swingby aims to expand reach to more projects, adding support where the most value can be added. The documentation pages for Skybridge, which offer a deeper dive into the technical aspects of the protocol, are located here . Media Contact Information: Dan, Email: [email protected] CryptoLocally Website: https://cryptolocally.com/en || British man sentenced to 5 years for hacking US companies: ST. LOUIS (AP) — A British man who was part of a hacking collective called The Dark Overlord was sentenced Monday to five years in prison for helping the group steal information from several companies in the U.S., including Missouri, Illinois and Georgia.
Nathan Francis Wyatt, 39, was sentenced after he pleaded guilty in federal court in St. Louis to conspiring to commit aggravated identity theft and computer fraud. He was also ordered to pay about $1.5 million in restitution.
Federal prosecutors said The Dark Overlordstolemedical records, client files and personal information from the companies, then demanded between $75,000 and $300,000 worth of Bitcoin to return the information. None of the companies paid the ransom but the conspiracy did cost them because of the intrusion and release of data, federal prosecutor Laura Kathleen Bernstein said.
Wyatt set up a phone account and accounts on Twitter and PayPal that were used to communicate and receive money, she said.
Wyatt apologized during the hearing, held via Zoom, saying that he was on medication for mental problems that led him to make bad decisions, The St. Louis Post-Dispatchreported.
“I can promise you that I’m out of that world,” he said, voice breaking. “I don’t want to see another computer for the rest of my life.”
His lawyer, Brocca Morrison, noted that Wyatt did not orchestrate the hacks and is the only hacker who has been identified.
Bernstein said Wyatt’s actions helped the other hackers remain anonymous and that his phone account was used to send threatening text messages to relatives of victims.
Wyatt was indicted in 2017, but he was not extradited to the U.S. until last year after British lawyers fought to keep him in that country.
He had served 14 months in a British prison after pleading guilty to 22 charges after he was accused of demanding money from the owner of a hacked computer and using stolen credit cards.
[Random Sample of Social Media Buzz (last 60 days)]
None available.
|
Trend: up || Prices: 13654.22, 13271.29, 13437.88, 13546.52, 13781.00, 13737.11, 13550.49, 13950.30, 14133.71, 15579.85
|
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 2021-09-15]
BTC Price: 48176.35, BTC RSI: 53.79
Gold Price: 1792.40, Gold RSI: 48.31
Oil Price: 72.61, Oil RSI: 62.05
[Random Sample of News (last 60 days)]
Silver Price Forecast – Silver Markets Continue to Find Support: Silver marketshave initially fallen during the trading session on Tuesday but then turned around to show signs of life again. Because of this, it looks as if the market is trying to find a little bit of support near the $23.50 level, but quite frankly we have broken down quite a bit over the last several months and therefore one has to wonder whether or not this will actually stick?
If we were to break down below the lows of the Monday session it more than likely will open up a move down to the $23 level. The $23 level would obviously be a large, round, psychologically significant figure, so a lot of people would be paying close attention to it. If we were to somehow break down below there it would open up a bit of a “trapdoor” in this market to send it much lower.
On the other hand, if we can retake the $24 level, it is likely that we go looking towards the 50 day EMA above, an area that has been important more than once, and would obviously attract quite a bit of attention. The market will continue to be noisy regardless, so I think what we are seeing here is a potential opportunity to trade back and forth and what will be highly volatile markets. Keep in mind that silver markets are much thinner than gold markets, so they do tend to have very erratic moves at times. Because of this, you need to keep your position size relatively reasonable, because you may have sudden moves that could cause a lot of damage to your account.
For a look at all of today’s economic events, check out oureconomic calendar.
Thisarticlewas originally posted on FX Empire
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• Gold Price Forecast – Gold Markets Choppy on Tuesday || Is the Venmo Credit Card Worthwhile?: If you rely on Venmo, an app that lets you send money to someone or pay a merchant that accepts this cashless option , you may have considered applying for a Venmo Credit Card. The card became widely available in February to eligible Venmo users through the Venmo app. "Venmo's decision to launch a credit card follows closely in the footsteps of its owner PayPal, which has its own line of cards," says Ann Martin, director of operations at CreditDonkey, a personal finance site. "While fintech companies may have emerged as a way to challenge traditional financial institutions, they are taking cues from those same institutions as they expand their services." If you're wondering what a Venmo card is and whether it should take up real estate in your wallet, here's what you need to know. [ Read: Best Rewards Credit Cards. ] How Does the Venmo Credit Card Work? The Visa-branded Venmo Credit Card is a secure way to pay on contactless terminals. Eligible Venmo users can apply for the card using the latest version of the Venmo app. When you are approved for the card, and before it even arrives, you will receive a virtual card number you can use immediately. The card number will live in both the Venmo app and the plastic card you will get for spending online or in-store. The quick response code on the front of the card is the same as the one in your Venmo app. Scanning the QR code on the card allows you to activate it and friends to pay you or get paid on the spot. Card purchases earn cash back to your Venmo account at the end of each statement period. You can pocket up to 3% cash back in your top eligible spending category, up to 2% back in your second-largest eligible category and 1% back on other eligible purchases. Sending money to other Venmo users through your Venmo account also delivers 1% cash back. Eligible 3% and 2% categories are dining and nightlife, travel, bills and utilities, health and beauty, grocery, gas, transportation, and entertainment. You won't have an earnings cap on the 3% and 2% categories in your first year, but a $10,000 limit will apply thereafter. Additional Venmo Credit Card details: -- Sign-up bonus: Apply through Sept. 30 and then spend $1,000 on your new card in the first six months to receive $100 cash back. -- Annual fee: $0. -- Annual percentage rate: 15.24%, 21.24% or 24.24% when you open the account, based on your creditworthiness and other factors, and then a variable APR applies. -- Foreign transaction fee: None. -- Cash advance fee: $10 or 5% of the amount, whichever is greater. Story continues -- Late payment fee: $29 if you've paid the minimum due on time in the last six billing cycles or $40 if you have failed to achieve this. -- Returned payment fee: $29. What Are the Benefits of the Venmo Credit Card? The Venmo Credit Card offers a few benefits that set it apart from other cards. Easily split shared transactions: If you put an expense on your Venmo Credit Card, you can choose how you would like to split the cost. Your group then scans your Venmo QR code to access your profile and provide payment. Cash back to cryptocurrency: You may elect to purchase cryptocurrency in the Venmo app using cash back earned through your Venmo Credit Card, but your cash back balance needs to be at least $1. You will also be able to manage your cryptocurrency preferences in the app. "The primary benefits of this Venmo option center around the ease and convenience (of) being able to buy, sell or hold some of the most popular cryptocurrencies," says Sean Stein Smith, assistant professor in the business and economics department at the Bronx's Lehman College. Those currencies include Bitcoin, Ethereum, Litecoin and Bitcoin Cash. "Having the backing and support of an organization like Venmo means that customers have more support services to address any potential issues that arise," adds the founder of the Institute for Blockchain & Cryptoasset Research. All-in-one app: You can manage your new Venmo credit card from a familiar place: the Venmo app. That means you won't need to create a separate online account with its own password and settings. [ Read: Best Cash Back Credit Cards. ] What Are the Pros and Cons of the Venmo Credit Card? Pros: -- Pay n o annual fee . -- Split costs with friends easily using the card's QR code and the Venmo app. -- Manage your credit card through the Venmo app. -- Earn the most cash back for the categories you spend the most on each month. -- Get 3% and 2% cash back rewards for spending categories such as dining, travel and groceries. -- Convert cash back into cryptocurrency using the Venmo app. Cons: -- The $100 sign-up bonus offer is low compared with other cards. -- The card is tied to the Venmo app and forces you to become a user if you're not already one. -- The card limits how much cash back you can earn after the first year. -- The card only lets you purchase four types of cryptocurrency with your cash back. -- The card does not allow authorized users. What Are Some Alternatives to the Venmo Credit Card? The Venmo Credit Card has many competitors if you do not want to be tied to the Venmo app and still avoid an annual fee: Citi Double Cash Card is a straightforward rewards credit card that earns 1% when you make a purchase and another 1% when you pay for it. Chase Freedom Unlimited earns a $200 sign-up bonus -- double the amount of the Venmo Credit Card -- after you charge $500 in the first three months. Grocery spending also gets a boost in your first year with 5% cash back on up to $12,000. Chase Freedom Flex gets 5% cash back on travel purchases through the Chase Ultimate Rewards portal and 5% back on up to $1,500 in bonus categories you activate each quarter. Dining and drugstore purchases earn 3%, while all other purchases earn 1%. You can also earn a $200 introductory bonus after spending at least $500 on the card in the first three months. [ Read: Best Credit Cards for Good Credit. ] Should You Get a Venmo Card? Are you still asking yourself, "Should I get a Venmo Credit Card?" Consider what you're looking for in a rewards credit card. This card is ideal if you prefer a rewards program that adjusts to your spending habits and not the other way around. Also, the cryptocurrency feature might sound gimmicky, but this feature could be helpful if you're trying to decide whether this investment option is for you. This card would best serve established Venmo customers who want to get some exposure to cryptocurrency while maintaining a service that's convenient and familiar, Smith says. The card targets consumers with good to excellent credit . With no annual fee and a distinctive cash back program, this card is frictionless if you're a regular Venmo user and new to rewards. Experienced rewards card users will likely find more lucrative options elsewhere. View comments || The Crypto Daily – Movers and Shakers – August 27th, 2021: Bitcoin, BTC to USD, slid by 4.39% on Thursday. Reversing a 2.76% gain from Wednesday, Bitcoin ended the day at $46,840.0.
A mixed start to the day saw Bitcoin rise to an early morning intraday high $49,385.0 before hitting reverse.
Falling short of the first major resistance level at $49,784, Bitcoin tumbled to a mid-day intraday low $46,310.0.
Bitcoin fell through the first major support level at $47,672 and the second major support level at $46,352.
Finding late support, Bitcoin broke back through the second major support level to revisit $47,000 levels before easing back.
The near-term bullish trend remained intact, supported by the latest return to $50,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend.
Across the rest of the majors, it was a bearish day on Thursday.
Cardano’s ADA(-7.71%),Chainlink(-8.30%) andRipple’s XRP(-8.62%) led the way down.
Binance Coin(-5.04%),Bitcoin Cash SV(-4.05%),Ethereum(-4.19%), andLitecoin(-5.70%) also struggled.
Crypto.com Coin(-3.05%), and Polkadot (-3.77%) saw relatively modest losses, however.
In the current week, the crypto total market rose to a Monday high $2,169bn before falling to a Thursday low $1,933bn. At the time of writing, the total market cap stood at $1,982bn.
Bitcoin’s dominance fell to a Tuesday low 43.64% before rising to a Thursday high 44.98%. At the time of writing, Bitcoin’s dominance stood at 44.64%.
At the time of writing, Bitcoin was up by 0.65% to $47,144.0. A mixed start to the day saw Bitcoin fall to an early morning low $46,363.0 before rising to a high $47,646.0.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a mixed start to the day.
Chainlink and Crypto.com Coin bucked the early trend, falling by 0.20% and by 0.25% respectively.
It was a bullish start for the rest of the majors, however.
At the time of writing, Polkadot was up by 1.78% to lead the way.
Bitcoin would need to move through the $47,512 pivot to bring the first major resistance level at $48,713 into play.
Support from the broader market would be needed for Bitcoin to break out from $48,500 levels.
Barring a broad-based crypto rally, the first major resistance level and resistance at $49,000 would likely cap any upside.
In the event of an extended crypto rally, Bitcoin could test resistance at the 23.6% FIB of $50,473 before any pullback. The second major resistance level sits at $50,587.
Failure to move through the $47,512 pivot would bring the first major support level at $45,638 into play.
Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$45,000 levels. The second major support level sits at $44,437.
Thisarticlewas originally posted on FX Empire
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• USD/CAD: Loonie Weakens Ahead of Jackson Hole Summit; Markets Remain on Edge || Bitcoin Price Prediction A Move Back through to $39,500 Would Bring $41,500 into Play: After a mixed day for the crypto majors on Monday, it has been a bearish morning for Bitcoin and the broader crypto market. At the time of writing, Bitcoin , BTC to USD, was down by 1.77% to $38,456.0. A mixed start to the day saw Bitcoin rise to an early morning high $39,781.0 before hitting reverse. Falling short of the first major resistance level at $40,160, Bitcoin slid to a mid-morning intraday low $38,020.0. Bitcoin fell through the first major support level at $38,427 to test support at $38,000 before a move back through to $38,600 levels. The Rest of the Pack It has been a bearish morning for the broader crypto market. Chainlink (-4.44%), Crypto.com Coin (-4.39%), and Ethereum (-4.82%) led the way down. Binance Coin (-2.54%), Litecoin (-2.91%), Polkadot (-3.45%), and Ripples XRP (-3.60%) also saw heavy morning losses. Bitcoin Cash SV (-1.60%) and Cardanos ADA (-1.41%) saw relatively modest losses through the morning. Through the early hours, the crypto total market rose to an early morning high $1,606bn before falling to a low $1,521bn. At the time of writing, the total market cap stood at $1,535bn. Bitcoins dominance fell to an early low 46.64% before rising to a high 47.13%. At the time of writing, Bitcoins dominance stood at 47.02%. For the Afternoon Ahead Bitcoin would need to move back through the $39,438 pivot to bring the first major resistance level at $40,160 into play. Support from the broader market would be needed, however, for Bitcoin to break back through to $40,000 levels. Barring an extended crypto rally through the afternoon, the first major resistance level and Mondays high $40,449 would likely limit any upside. In the event of a breakout, however, Bitcoin should target the 38.2% FIB of $41,592 before any pullback. The second major resistance level sits at $41,171. Failure to move back through the $39,438 pivot would bring the first major support level at $38,427 back into play. Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$38,000 levels, however. The second major support level sits at $37,705. Story continues Looking beyond the support and resistance levels, we saw a bearish cross with the 50 EMA crossing through the 100 EMA this morning. We also saw the 50 EMA narrow on the 200 EMA this morning. This supported the downside through the morning. A further narrowing of the 50 on the 200 EMA this afternoon would bring the first major support level back into play. Sub-$38,000 levels would come into play should the 50 EMA cross through the 200 EMA later in the day. Key going into the afternoon will be for Bitcoin to move back through the $39,438 pivot. This article was originally posted on FX Empire More From FXEMPIRE: Daily Gold News: Tuesday, August 3 Gold Trading Along $1,800 Stocks Gain Ground Despite Strong Sell-Off In The Oil Market Bitcoin Tests Support At $38,000 E-mini S&P 500 Index (ES) Futures Technical Analysis Trader Reaction to 4393.75 Pivot Sets the Tone E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis Reaction to 34867 Pivot Sets the Tone EUR/USD Mid-Session Technical Analysis for August 3, 2021 || Razor Energy Corp. Announces Second Quarter 2021 Results: CALGARY, Alberta, Aug. 27, 2021 (GLOBE NEWSWIRE) -- Razor Energy Corp. (“Razor” or the “Company”) (TSXV: RZE) announces its second quarter 2021 financial and operating results. Selected financial, operational and reserves information is outlined below and should be read in conjunction with Razor’s unaudited condensed consolidated interim financial statements and management’s discussion and analysis for the quarter ended June 30, 2021 which are available on SEDAR at ww w .seda r . c om and the Company’s website ww w . r a z or-ene r g y . c om . HIGHLIGHTS Acquisition On August 12, 2021, the Company completed an agreement to acquire certain non-operated working interest assets in its Swan Hills, Alberta core region for a total purchase price of $5 million cash, subject to certain closing adjustments. The Assets consist of Swan Hills Unit No.1, Judy Creek Gas Plant and South Swan Hills Unit Gas Gathering System at 32.5%, 8.6% and 27.6% working interest, respectively. Financing The August 12, 2021, acquisition was funded by Arena Investors, LP. Razor has signed an amended term loan agreement (“Amended Term Loan”) with Arena for an increase of US$8.8 million (CAD $11.0 million) resulting in an amended total principal amount of US$18.1 million (CAD $22.7 million). The Amended Term Loan will be amortized and repaid over a total of 37 months and will conclude in April 2024. The increase in principal will fund the purchase of the Assets, associated joint account liability and interim purchase price adjustments. The funded principal amount, after the original issuer discount is US$8.0 million (CAD $10.0 million) less related fees and expenses. Other terms of the Amended Term Loan are materially unchanged from the initial term loan. Innovation Razor continues to identify opportunities to alternative sources of energy and manage the environmental and social impacts of our business. FutEra Power Corp. (“FutEra”), a subsidiary of Razor, has commenced project execution of its Co-produced Geothermal Power Generation Project in Swan Hills, Alberta (“Geothermal Project”). Stage Gate 1 is fully funded and FutEra is securing additional financing to complete Stage Gate 2. Construction of the power plant has commenced with estimated completion within the first quarter of 2022. Razor operates a new and responsible crypto mining operation in Swan Hills, Alberta. The project is built entirely on pre-existing assets to limit our environmental footprint. The project hosts leading energy-efficient miners and relies on natural gas generators for cleaner and more economic power than is available through the local grid and has 10 Petahash of nameplate hashing capacity. Razor operates a natural gas-powered electricity generation program which allows the Company to reduce its reliance on coal-biased grid electricity and has reduced GHG emissions by 6,000 tCO2 annually and has reduced electricity costs by $7.1 million since the program was implemented in 2018. Razor implemented cost saving measures by internalizing certain oilfield services through its subsidiary, Blade Energy Services Corp. ("Blade"), which provides services such as crude oil hauling, earthworks and environmental services. Blade conducted $1.3 million of services on behalf of Razor during the second quarter of 2021 (Q2 2020 - $0.8 million) and $2.4 million of services during the first six months of 2021 (2020 - $1.1 million). The Company completed construction during Q2 2021 to repurpose certain facilities in Virginia Hills to become a Waste Management Component employing bioremediation to treat hydrocarbon-impacted soils. This Soil Treatment Facility will use naturally occurring microbes to digest hydrocarbons in soils and will be integral to Razor’s Area Based Closure operations in the Virginia Hills area. The facility will begin treating its first soil in Q3 2021. FutEra is developing a pure green power supply solution for the waste management facility. Story continues Operating Production volumes in the second quarter of 2021 averaged 3,145 boe/d, down 17% from the production volumes in the same period of 2020. Decreased production volumes in Q2 2021 are largely due to non-operated production temporarily shut-in at Kaybob and Southern Alberta, operated and non-operated facility turnarounds in June, temporary curtailment at South Swan Hills pending a pipeline repair, reduced spending on well reactivations and repairs throughout 2020 and into early 2021, and natural annual base decline. Razor commenced its 2021 operated production enhancement program in February 2021 with funds acquired from the Arena Term Loan. The Company is required to use at least US$6.7 million (CAD$8.4 million) to complete the activities outlined in an agreed upon development plan which resulted in an average production increase during the second quarter 2021 of 638 boe/d and an exit rate production increase as at June 30, 2021 of 637 boe/d. Net revenues were 73% higher compared to the second quarter of 2020. The decline in production in the second quarter of 2021 was offset by a 126% increase in commodity prices as compared to the same period in 2020. Capital Progressed our Geothermal Project, which will be capable of generating 18 MW of grid connected power, of which up to 30 percent will be sustainable clean power generation. Decommissioning In the first six months of 2021, the Company settled $1,208 thousand (twelve months 2020 - $538 thousand) of decommissioning obligations which includes $925 thousand (twelve months 2020 - $198 thousand) related to government grants received for well site rehabilitation through Alberta’s Site Rehabilitation Program (“SRP”). 2021 OUTLOOK Razor Razor continues to look forward and plan for the future while remaining focused on its long-term sustainability. On February 16, 2021, Razor secured an extension to the AIMCo Term Loan, for an amended principal amount of $50.1 million. There were no additional proceeds received from the AIMCo Term Loan. On the same date, a subsidiary of Razor entered into the Arena Term Loan in the principal amount of US$11.0 million (CAD$14.0 million) which was subsequently amended on August 12, 2021, with the principal amount increasing to US$18.1 million ($CAD 22.7 million). The Arena Term Loan amendment on August 12, 2021, was used to fund the acquisition of certain non-operated working interest assets in the Company’s Swan Hills, Alberta core region. Razor has intimate knowledge of the Assets through its existing working interest positions and is excited with the opportunity to consolidate assets in their core region. Razor now owns a 49.7 percent non-operated working interest in the Unit while the Operator, Canadian Natural Resources Ltd., maintains its 41.9 percent working interest. The Company will also benefit from increasing its working interest in critical area infrastructure, including the Plant and Gathering System to 38.1 and 43.9 percent, respectively. The Acquisition enables the Company to cost-effectively add long-life, industry-leading ten percent annual base decline, low-risk, light oil reserves (41 o API), production and cash flow underpinned by an improving commodity price environment as crude oil supply/demand returns to balance in the post-COVID era. A portion of the proceeds from the Amended Arena Term Loan will continue to be required to be used to invest US$6.7 million (CAD$8.4 million) in 2021 and 2022 on production enhancement. The Company has an extensive opportunity set of high-quality wells requiring reactivation. Most activities involve repairs and maintenance work which will be expensed for accounting purposes and operating netbacks will be reduced during this timeframe. In aggregate, the annual base decline of these wells is anticipated to be consistent with the Company’s current corporate decline of approximately 12 percent. In its history the Company has reactivated over 60 wells adding approximately 2,000 boe/d and it expects that this program will result in similar favorable metrics. The production enhancement program has resulted in an average production increase during Q2 2021 of 638 boe/d and an exit rate production increase as at June 30, 2021 of 637 boe/d. The Company continues to focus on cost control on its operated properties. In addition to the planned production enhancement program, Razor will take a cautious and case-by-case approach to spending in 2021 and into 2022, focusing on low risk, low investment capital opportunities to increase field and corporate netbacks. FutEra In May 2021 FutEra Power Corp. (“FutEra”), a subsidiary of Razor entered the project execution stage of its Geothermal Project. FutEra expects the total capital cost of the Geothermal Project to be $34 million. Stage Gate 1 is fully funded. Stage Gate 2 requires additional financing which FutEra continues to seek. With both Stage Gate 1 and 2 of the Geothermal Project complete, the total nameplate electricity output will be 18 MW, of which up to 30% will be sustainable clean power generation. FutEra has partnered with provincial and federal government agencies to invigorate the emerging geothermal industry. Provincially, Alberta Innovates (“AI”) and Emissions Reduction Alberta (“ERA”), and federally, Natural Resources Canada (“NRCan”), have provided grants to complete funding. To date, Razor has received $8.6 million in government grants to support this power generation project. FutEra has identified and is in the process of reviewing and capturing additional projects including solar, wind, and well head geothermal. As at June 30, 2021, FutEra has installed and is operating a 10 Petahash Bitcoin mining operation supplying both power generation and the behind-the-fence mining offtake installation. In addition, FutEra is in discussions with an industry resource partner to evaluate its renewable energy options and to develop a long term Environmental, Social and Governance plan. NEAR AND MEDIUM-TERM OBJECTIVES Safely execute our production enhancement program and Geothermal Project. Reduce net debt through continued optimization of capital spending and increased efficiencies to reduce operating and general and administrative costs. Actively identify and consider business combinations with other oil and gas producers as well as service companies. Further analyze ancillary opportunities including power generating projects, oil blending and vertical services integration. SELECT QUARTERLY HIGHLIGHTS The following tables summarizes key financial and operating highlights associated with the Company’s financial performance. Three Months Ended June 30, Six Months Ended June 30, ($000's, except for per share amounts and production) 2021 2020 2021 2020 Production Light Oil (bbl/d) 1,983 1,996 1,968 2,319 Gas (mcf/d) 1 3,673 5,528 3,707 4,602 NGL (boe/d) 549 865 492 902 Total (boe/d) 3,145 3,782 3,077 3,989 Sales volumes Light Oil (bbl/d) 2,010 1,971 1,959 2,254 Gas (mcf/d) 1 3,301 4,287 3,382 3,621 NGL (bbl/d) 549 865 492 902 Total (boe/d) 3,110 3,550 3,014 3,760 Oil inventory volumes (bbls) 9,784 21,111 9,784 21,111 Revenue Oil and NGLs sales 15,320 7,896 27,813 20,372 Natural gas sales 940 742 1,831 1,366 Blending and processing income 776 1,061 2,144 2,674 Other revenue 149 (171 ) 552 761 Total revenue 17,185 9,528 32,340 25,173 Cash flows from (used in) operating activities 403 (540 ) (3,115 ) 1,714 Per share -basic and diluted 0.02 (0.03 ) (0.15 ) 0.08 Funds flow 2 339 1,985 (1,085 ) (1,673 ) Per share -basic and diluted 0.03 0.09 (0.05 ) (0.08 Adjusted funds flow 2 578 2,010 (285 ) (1,303 ) Per share -basic and diluted 0.03 0.10 (0.01 ) (0.06 Net income (loss) (5,544 ) (4,083 ) (11,179 ) (38,311 ) Per share - basic and diluted (0.26 ) (0.19 ) (0.53 ) (1.82 ) Dividend paid - - - 263 Dividends per share - - - 0.01 Weighted average number of shares outstanding (basic and diluted) 21,064 21,064 21,064 21,064 Capital expenditures 4,810 (583 ) 5,669 (133 ) Netback ($/boe) Oil and gas sales 3 56.81 25.10 53.22 29.95 Royalties (7.66 ) (2.53 ) (6.20 ) (3.38 ) Adjusted operating expenses 2 4 (37.67 ) (21.14 ) (38.08 ) (26.44 ) Production enhancement expenses 2 (4.94 ) (0.24 ) (6.41 ) (2.18 ) Transportation and treating (2.04 ) (1.69 ) (2.19 ) (1.72 ) Operating netback 2 4.50 (0.50 ) 0.34 (3.77 ) Net blending and processing income 2 0.89 3.34 2.12 3.23 Realized loss on commodity contracts settlement 3 (0.18 ) (2.72 ) (0.09 ) (2.41 ) Unrealized gain/(loss) on commodity risk management (3.43 ) 0.29 (1.61 ) 0.05 Other revenues 2.47 7.02 3.01 4.61 General and administrative (3.45 ) (2.19 ) (3.95 ) (3.66 ) Other expenses (0.29 ) (0.02 ) (0.25 ) - Impairment - - - (34.08 ) Interest (5.11 ) (3.68 ) (5.33 ) (3.55 ) Corporate netback 2 (4.60 ) 1.54 (5.76 ) (39.58 ) 1) Natural gas production includes internally consumed natural gas primarily used in power generation. 2) Refer to "Non-IFRS measures". 3) Excludes the effects of financial risk management contracts but includes the effects of fixed price physical delivery contracts. 4) Excludes production enhancement expenses incurred in the period. SELECT QUARTERLY HIGHLIGHTS (continued) June 30, December 31, ($000's, except for share amounts) 2021 2020 Total assets 155,385 163,709 Cash 2,710 1,098 Long-term debt (principal) 62,678 50,878 Minimum lease obligation 2,737 3,469 Net debt 1 83,260 72,789 Number of shares outstanding 21,064,466 21,064,466 1) Refer to "Non-IFRS measures.” OPER A TIONAL UP D A TE Production volumes in the second quarter of 2021 averaged 3,145 boe/d, down 17% from the production volumes in the same period of 2020. Decreased production volumes in Q2 2021 are largely due to a number of factors including: non-operated production temporarily shut-in at Kaybob (anticipated to resume production in September) and Southern Alberta (anticipated to resume production in the fourth quarter of 2021), operated and non-operated facility turnarounds in June in Swan Hills resulting in an approximate 850 boe/day reduction for the month, temporary curtailment at South Swan Hills pending a pipeline repair anticipated to be completed in early Q4 2021, reduced spending on well and pipeline reactivations and repairs throughout 2020 and into early 2021, and natural annual base decline. Net revenues were 73% higher compared to the second quarter of 2020. The decline in production in the second quarter of 2021 was offset by a 126% increase in commodity prices as compared to the same period in 2020. The Edmonton light sweet crude oil differential to West Texas Intermediate ("WTI") was 5% in the second quarter of 2021 compared to 23% in the same quarter of 2020. Realized NGL prices increased 139% in the second quarter of 2021 from the same period in 2020. During the second quarter of 2021, the Company realized an operating netback of $4.50/boe, a significant improvement from the operating loss of ($0.50)/boe in the second quarter of 2020. Realized prices increased by $31.71/boe, however the impact of increased prices was offset by a significant royalty increase of $5.13/boe which is tied to the higher commodity prices, an increase in adjusted operating expenses of $16.53/boe as well as an increase in production enhancement expenses of $4.70/boe in comparison to the same period in 2020. For the six months ended June 30, 2021, the operating netback was $0.34/boe compared to an operating loss of $3.77/boe for the same period in 2020 mainly as a result of a $23.27/boe increase in realized prices which were up 78%, offset by royalty rate increases of $2.82/boe, increased adjusted operating expenses of $11.64/boe and increased production enhancement expenses of $4.23/boe. Royalty rates averaged 13% in the second quarter of 2021 as compared to 10% for the same period in 2020 due to an increase in the Government of Alberta’s PAR prices used in the calculation of crown royalties in Q2 2021 as compared to Q2 2020 and offset somewhat by lower production in Q2 2021 compared to Q2 2020. For the six months ended June 30, 2021, royalties averaged 12% compared to 11% in the same period in 2020 mainly due to an increase in PAR prices and lower production. Adjusted operating expenses increased $3.5 million or 48% on a total dollar basis but increased 78% on a per boe basis in the second quarter of 2021 compared to the same period in 2020 due to a 17% decrease in production. The increase in the adjusted operating expense per boe was due primarily to surface repairs and maintenance (including non-capitalized turnaround costs) which averaged $5.45/boe in Q2 2021 versus $0.17/boe in Q2 2020, fuel and electricity costs which averaged $12.01/boe in Q2 2021 as compared to $7.61/boe in 2020 and transportation and treating costs which averaged $2.44/boe in Q2 2021 as compared to ($0.10)/boe in 2020. Chemical costs were consistent and averaged $1.17/boe in Q2 2021 as compared to $0.99/boe in 2020. For the six months ended June 30, 2021, adjusted operating expenses increased $2.0 million or 10% on a total dollar basis but increased 44% on a per boe basis primarily driven by a 23% decrease in production compared to the same period in 2020. The Company continued its production enhancement activity in Q2 2021 in response to the stronger commodity price environment. Production enhancement expenses per boe averaged $4.94/boe in the second quarter 2021 as compared to $0.24/boe in 2020. The production enhancement program has resulted in an average production increase during Q2 2021 of 638 boe/d and an exit rate production increase as at June 30, 2021, of 637 boe/d. For the six months ended June 30, 2021, production enhancement expenses averaged $6.41/boe as compared to $2.18/boe for the same period in 2020. Razor has focused on cost control on all expenditures within its operations by implementing a procurement system, internalizing field services and producing its own electricity. Blade Energy Services Corp. ("Blade"), a wholly owned subsidiary of Razor, provides services such as crude oil hauling, earthworks and environmental services. Blade conducted $1.3 million of services on behalf of Razor during Q2 2021 (Q2 2020 - $0.8 million) and $2.4 million of services during the first six months of 2021 (2020 - $1.1 million). The top cost drivers of the adjusted operating expenses consist of fuel and electricity, labour, property taxes, lease rentals, fluid hauling and chemicals pipeline repairs and maintenance and environmental work. The top cost drivers accounted for 54% of the adjusted operating expenses in the second quarter of 2021 (comparable costs in Q2 2020 – 72%). For the six months ended June 30, 2021, the same top cost drivers accounted for 57% of the adjusted operating expenses (comparable costs for the same period in 2020 – 79%). The cost of electricity and fuel increased 31% in Q2 2021 as compared to the same quarter of last year mostly due to a 249% increase in average electricity pool prices which was offset by a 40% decrease in consumption, decreased reliance on non-operated fuel gas and lower production levels. For the six months ended June 30, 2021, the cost of electricity and fuel increased 13% as compared to the same period of last year mostly due to a 110% increase in average electricity pool prices offset by a 37% decrease in consumption. Other revenue and income received during the three months ended June 30, 2021, was $0.7 million which primarily consisted of $0.5 million SRP grant income and a combined $0.2 million of road use, road maintenance and other revenue. For the six months ended June 30, 2021, other revenue and income received was $1.7 million compared to $3.3 million for the same period in 2020. The decrease for the six months is mainly due to insurance proceeds received in 2020 offset somewhat by SRP grant income received in 2021. During the second quarter of 2021, the Company received funds from Canada Emergency Wage Subsidy of $0.3 million. These grants were recognized as a $0.15 million reduction to both general and administrative expense and a reduction of operating expenses. For the six months ended June 30, 2021, the Company received $0.5 million ($0.7 million for six months ended June 2020) and the grants were recognized as a $0.3 million reduction to general and administrative expense and a $0.2 million reduction of operating expenses ($0.5 million and $0.2 million respectively for the six month period ended June 30 2020). CAPI T AL P R OGRAM During the second quarter of 2021, Razor invested $0.5 million in field equipment for its service company subsidiary, $1.1 million on its Geothermal Project and $0.3 million in its Bitcoin mining project. The company also capitalized $3.9 million of turnaround costs related to operated turnaround activities and non-operated turnaround activities in the quarter. As of June 30, 2021, Razor has received $7.2 million since inception in government grants to support its Geothermal Project, with an additional $1.4 million funding received in July 2021. Razor did not initiate any projects related to finding and development capital and minimal capital reactivations were conducted during this period as the Company’s focus is on investing in its 2021 production enhancement program to increase production and cash flow. RAZOR'S RESPONSE TO COVID-19 Razor is dedicated to ensuring the health, safety and security of its employees, contractors, partners and residents within all of its operating areas and communities. The Company is following all applicable rules and regulations as set out in Alberta Health and Health Canada guidelines to protect the well-being of all stakeholders. About Razor Razor is a publicly traded junior oil and gas development and production company headquartered in Calgary, Alberta, concentrated on acquiring, and subsequently enhancing, and producing oil and gas from properties primarily in Alberta. The Company is led by experienced management and a strong, committed Board of Directors, with a long-term vision of growth focused on efficiency and cost control in all areas of the business. Razor currently trades on TSX Venture Exchange under the ticker “RZE.V”. www.razor-energy.com About FutEra FutEra leverages Alberta’s resource industry innovation and experience to create transitional power and sustainable infrastructure solutions to commercial markets and communities, both in Canada and globally. Currently, it is developing an 18 MW co-produced geothermal and natural gas hybrid power project in Swan Hills, Alberta. www.futerapower.com About Blade Blade Energy Services is a subsidiary of Razor. Operating in west central Alberta, Blade’s primary services include fluid hauling, road maintenance, earth works including well site reclamation and other oilfield services. www.blade-es.com F or additional i n f orm a tion please c o nt act: Doug Bailey President and Chief Executive Officer Kevin Braun Chief Financial Officer Razor Energy Corp. 800, 500-5th Ave SW Calgary, Alberta T2P 3L5 Telephone: (403) 262-0242 R E ADER A D VISORI E S FORWARD-LOOKING STATEMENTS: This press release may contain certain statements that may be deemed to be forward-looking statements. Such statements relate to possible future events, including, but not limited to, the Company’s ability to continue to operate in accordance with developing public health efforts to contain COVID-19, the Company’s objectives, including the Company’s capital program and other activities, including ancillary opportunities such as power generation, oil blending and services integration, restarting wells, future rates of production, anticipated abandonment, reclamation and remediation costs for 2021, possible business combination transactions, assistance from government programs including under the SRP and Canadian Emergency Wage Subsidy, commitments under the ABC program and energy management program and other environmental, social and governance initiatives. All statements other than statements of historical fact may be forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “anticipate”, “believe”, "expect", “plan”, “estimate”, “potential”, “will”, “should”, “continue”, “may”, “objective” and similar expressions. The forward-looking statements are based on certain key expectations and assumptions made by the Company, including but not limited to expectations and assumptions concerning the availability of capital, current legislation, receipt of required regulatory approvals, the timely performance by third-parties of contractual obligation, the success of future drilling and development activities, the performance of existing wells, the performance of new wells, the Company’s growth strategy, general economic conditions, availability of required equipment and services prevailing commodity prices, price volatility, price differentials and the actual prices received for the Company's products. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward- looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, risks associated with the oil and gas industry and geothermal electricity projects in general (e.g., operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; variability in geothermal resources; as the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses, and health, safety and environmental risks), electricity and commodity price and exchange rate fluctuations, changes in legislation affecting the oil and gas and geothermal industries and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures. In addition, the Company cautions that COVID-19 may continue to have a material adverse effect on global economic activity and worldwide demand for certain commodities, including crude oil, natural gas and NGL, and may continue to result in volatility and disruption to global supply chains, operations, mobility of people and the financial markets, which could continue to affect commodity prices, interest rates, credit ratings, credit risk, inflation, business, financial conditions, results of operations and other factors relevant to the Company. The duration of the current commodity price volatility is uncertain. Please refer to the risk factors identified in the annual information form and management discussion and analysis of the Company which are available on SEDAR at www.sedar.com. The forward-looking statements contained in this press release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. This press release contains future-oriented financial information and financial outlook information (collectively, "FOFI") about Razor's prospective results of operations, sales volumes, including sale of inventory volumes, production and production efficiency, balance sheet, capital spending, cost and net debt reductions, operating efficiencies, investment infrastructure and components thereof, all of which are subject to the same assumptions, risk factors, limitations, and qualifications as a set forth in the above paragraph. FOFI contained in this document was approved by management as of the date of this document and was provided for the purpose of providing further information about Razor's future business operations. Razor disclaims any intention or obligation to update or revise any FOFI contained in this document, whether as a result of new information, future events or otherwise, unless required pursuant to applicable law. Readers are cautioned that the FOFI contained in this document should not be used for purposes other than for which it is disclosed herein. NON-IFRS MEASURES: This press release contains the terms "funds flow", "adjusted funds flow", "net blending and processing income", "net debt", "income (loss) on sale of commodities purchased from third parties", "operating netback", "corporate netback", “adjusted operating expenses” and “production enhancement expenses” which do not have standardized meanings prescribed by International Financial Reporting Standards ("IFRS") and therefore may not be comparable with the calculation of similar measures by other companies. Funds flow represents cash generated from operating activities before changes in non-cash working capital. Adjusted funds flow represents cash flow from operating activities before changes in non-cash working capital and decommissioning obligation expenditures incurred. Management uses funds flow and adjusted funds flow to analyze operating performance and leverage, and considers funds flow and adjusted funds flow from operating activities to be key measures as it demonstrates the Company's ability to generate cash necessary to fund future capital investments and repay debt. Net blending and processing income is calculated by adding blending and processing income and deducting blending and processing expense. Net debt is calculated as the sum of the long-term debt and lease obligations, less working capital (or plus working capital deficiency), with working capital excluding mark-to-market risk management contracts. Razor believes that net debt is a useful supplemental measure of the total amount of current and long-term debt of the Company. Income (loss) on sale of commodities purchased from third parties is calculated by adding sales of commodities purchased from third parties and deducting commodities purchased from third parties. Income (loss) on sale of commodities purchased from third parties may not be comparable to similar measures used by other companies. Operating netback equals total petroleum and natural gas sales less royalties and operating costs calculated on a boe basis. Razor considers operating netback as an important measure to evaluate its operational performance as it demonstrates its field level profitability relative to current commodity prices. Corporate netback is calculated by deducting general & administration, acquisition and transaction costs, and interest from operating netback. Razor considers corporate netback as an important measure to evaluate its overall corporate performance. Adjusted operating expenses are regular field or general operating costs that occur throughout the year and do not include production enhancement expenses. Management believes that removing the expenses related to production enhancements from total operating expenses is a useful supplemental measure to analyze regular operating expenses. Adjusted operating expenses may not be comparable to similar measures used by other companies. Production enhancement expenses are expenses made by the company to increase production volumes which are not regular field or general operating costs that occur throughout a year. Management believes that separating the expenses related to production enhancements is a useful supplemental measure to analyze the cost of bringing wells back on production and the related increases in production volumes. Production enhancement expenses may not be comparable to similar measures used by other companies. ADVISORY PRODUCTION INFORMATION: Unless otherwise indicated herein, all production information presented herein is presented on a gross basis, which is the Company's working interest prior to deduction of royalties and without including any royalty interests. BARRELS OF OIL EQUIVALENT: The term "boe" or barrels of oil equivalent may be misleading, particularly if used in isolation. A boe conversion ratio of six thousand cubic feet of natural gas to one barrel of oil equivalent (6 Mcf: 1 bbl) is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Additionally, given that the value ratio based on the current price of crude oil, as compared to natural gas, is significantly different from the energy equivalency of 6:1; utilizing a conversion ratio of 6:1 may be misleading as an indication of value. Neither the T S X V e n ture E x change nor its R egulation Se r vi c es Pr o vider (as that t erm is defined in the policies of the T S X V e n ture E x change) a c c e p ts responsibility f or the adequacy or a c curacy of this n e ws release. || Neptune Digital Assets Announces Q3 Financial Summary and Corporate Update: Vancouver, British Columbia--(Newsfile Corp. - July 28, 2021) - Neptune Digital Assets Corp. (TSXV: NDA) (OTC Pink: NPPTF) (FSE: 1NW) ("Neptune" or the "Company"), a cryptocurrency leader in Canada, is pleased to provide an update on the current financial position of the Company in advance of filing its Q3 consolidated interim financial statements for the nine-month period ended May 31, 2021.
"We are quite pleased with our revenue growth over the period and subsequent to period end. Neptune continues to operate on a very lean cash budget and earnings continue to grow as we expand our mining operations. We were very fortunate to be able to take advantage of the substantial market pullback with our newly raised capital to purchase mining rigs and crypto at a 50% discount from the top of the market", stated Cale Moodie, Neptune CEO.
Below are a number of financial highlights pertaining to the period ended May 31, 2021 and subsequent to the period end:
• The Company finished the nine months ended May 31, 2021 with $47.5M in total assets, an increase of 1,250% from the beginning of the year. The Company had $48.2M in assets as of the date of this release.
• In the three months ended May 31, 2021, the Company had realized gains and other income related to staking, Bitcoin mining and other operations of $1,652,551.
• Subsequent to May 31, 2021, the Company earned $158,000 USD from exercising Bitcoin put options at the Bitcoin low of roughly $29,000 USD.
• The Company's largest digital asset holdings as of the date of this release are 110 BTC, 143,100 ATOM, 1.44 million FTM, 290 ETH, and 2,075 DASH. The Company also holds positions in DOT, BCH, Litecoin, Stellar, NEO, OMG, QTUM as well as the investment in the Protocol Fund.
• Neptune's $250,000 USD investment in the Protocol Fund was valued at $1,737,959 as of May 31, 2021.
• Neptune is currently earning $480,000 per month or $5.8M annualized as of the date of this release. This is expected to increase into the end of summer as an additional 22 PH/s of Bitcoin miners come online.
• Neptune aims to have at least 75 PH/s of Bitcoin mining online by the end of the calendar year.
• Neptune is continually purchasing Bitcoin and ETH in order to dollar cost average.
• Neptune's cash operating costs were approximately $652,000 for the nine months ended May 31, 2021 or approximately $72,000 per month.
• Losses which occurred during the quarter ended May 31, 2021 relate to unrealized and non-cash amounts due to the pullback in cryptocurrency prices. These losses are required to flow through the income statement under International Financial Reporting Standards.
All financial information in this press release is prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board. The Company will file its consolidated interim financial statements for the nine-month period ended May 31, 2021 and associated management discussion and analysis under the Company's profile on SEDAR at www.sedar.com on July 29, 2021.
About Neptune Digital Assets Corp.
Neptune Digital Assets (TSXV: NDA) is one of the first publicly-traded blockchain companies in Canada and is a cryptocurrency leader with diversified assets and cryptocurrency operations across the digital asset ecosystem including bitcoin mining, tokens, proof-of-stake cryptocurrencies, decentralized finance (DeFi) and associated blockchain technologies.
ON BEHALF OF THE BOARD
Cale Moodie, President and CEONeptune Digital Assets Corp.1-800-545-0941www.neptunedigitalassets.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This release contains certain "forward looking statements" and certain "forward-looking information" as defined under applicable Canadian securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans", "proposes" or similar terminology. Forward-looking statements and information include, but are not limited to, the Company's future earnings and expansion of mining operations; ; the future rate of production from the Company's Bitcoin mining machines and the anticipated timing thereof; the revenues from the Company's mining and staking operations; the future scaling of the Company's Bitcoin mining operations; the Company's ability to grow and optimize its proof of stake operations; the Company's future earnings and operating costs; the Company's future growth in total assets; the Company's strategy to purchase crypto currency and optimize its crypto portfolio; the Company's ability effectively dollar cost average its purchases of crypto currency including Bitcoin and ETH; and the future outlook of the crypto currency market generally. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties, and contingencies. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause the Company's actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: the inherent risks involved in the cryptocurrency and general securities markets; the Company's ability to successfully mine digital currency; revenue of the Company may not increase as currently anticipated, or at all; 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; uncertainties relating to the availability and costs of financing needed in the future; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, currency fluctuations; regulatory restrictions, liability, competition, loss of key employees and other related risks and uncertainties. The Company does not undertake any obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
(All dollar amounts are in Canadian dollars unless otherwise indicated)
To view the source version of this press release, please visithttps://www.newsfilecorp.com/release/91407 || One nail in the coffin: Infrastructure bill goes to vote without crypto amendments: Last night, as a tumultuous evening for the crypto industry played out across the Senate floor, all eyes were on one thing, the make-or-break amendment put forward by a bipartisan coalition of leading Senators to avoid a calamitous crypto tax – but it was not to be, lone gun Senator Richard Shelby shot the amendment down. The Lummis-Portman-Sinema-Toomey Amendment was a surprise last ditch effort that sought to bring together key figures from across the Senate in a compromise between two shot-down rival amendments; both aimed at clarifying the brokerage tax attack on crypto miners, validators, and wallet providers. Whilst the coalition of compromise offered the promise of hope; the odds were stacked against it. It needed unanimous support (from all 100 senators + Vice-President Kamala Harris) in order to pass into modifying the controversial infrastructure bill. The new infrastructure bill has become the battleground for the debate over cryptocurrency regulation, but with cross-house compromise appearing like sunlight on the horizon – hopes were high. The bipartisan amendment vote came to tally and the results came in: 99 – 1. Never before in the field of crypto regulatory conflict has so much damage been caused by one man. This man’s name is Senator Richard Shelby. The soon-to-retire, 87-year old Senator from Birmingham, Alabama stubbornly shot down the bill, refusing to vote in support of the cross the floor effort, after his own amendment – a $50Bn tack on cash grab for defence spending failed to receive any significant support. This means that there has been no successful amendment clarifying the blanket application of a ‘brokerage tax’ across the industry. What’s the big deal? The legislation is seeking to tax $28 billion from the industry, but has come under fire from many crypto-supporting congressional figures that see it as damaging to innovation in digital technology and government encroachment on an emerging financial industry. Story continues The proposed tax applies in a blanket to most of the American crypto industry in its current wording which classifies miners, validators, and even e-Wallet service providers as brokers with equivalent brokerage tax liabilities. This has led to the proposition of the so-called Lummis-Toomey-Wyden amendment, which aims to clarify this major misinterpretation and exempt the miners and non-brokerage services from the proposed brokerage taxes. In response to this, a rival amendment was proposed by other lawmakers – known as the Portman-Warner amendment – which, curiously, offers the same exact exemption but exclusively for Proof of Work (PoW) miners. This second amendment was widely castigated as an attack on the future of crypto by effectively killing of new Proof of Stake (PoS) technologies – and won unexpected White House backing. However, neither amendment came to fruition – leaving the unamended and unclarified passage of the bill a looming threat. This underpinned the bipartisan effort to reach a compromise over the clarification and reach consensus for an amendment, unfortunately for the crypto industry – the bill was shot down by the lone gun Senator Shelby. Another amendment was put forward by the impassioned Senator Ted Cruz in an effort to completely strike-off the crypto components of the infrastructure bill. This too failed to achieve unanimous consensus – thanks again in part to Senator Shelby’s refusal to vote for any amendment after his $50b defence spending amendment failed. The infrastructure bill will consequently pass through the Senate completely intact with its original unclarified wording regarding the brokerage tax. Next the bill moves to the second-chamber, the U.S. House of Representatives, many are expecting the newly formulated coalition and freshly-awakened crypto lobby to make a big effort to see a completely new clarification amendment passed in the hot-tempered House. If all else fails it would be expected that the case will be taken up in the courts – some speculate that a Supreme Court challenge could be posed by the crypto industry if passed into law, seeking to find exemption for miners, validators, and service providers. Who are the key players? Amidst the ongoing congressional regulatory battle, a number of significant and key figures has emerged as leaders on both sides of the debate. Coin Rivet takes a quick look at the key players in the debate. Toomey in 2018 Senator Pat Toomey (Republican – Pennsylvania) Background: Senator Pat Toomey is a Harvard educated former-Wall Street Banker representing Pennsylvania. He is extremely outspoken on issues of financial regulation as a big voice on the Senate Banking Committee. Toomey has stood as one of cryptocurrency and DeFi’s leading evangelists and advocates in Congress, working hard to defend the crypto industry from the ongoing regulatory attacks in Congress as well as on the Committee . He is an investor in the Grayscale Bitcoin Investment Trust. Role: Senator Toomey has played a key role on the forefront of the ongoing infrastructure bill, standing as a leading figure pushing for an immediate and essential clarification of the legislative text that could see a blanket brokerage tax across the industry. He wants to see the definition of a crypto broker narrowed to exclude crypto miners, network node validators, and service providers such as e-Wallet and cold storage companies. This has seen him put his name to the first amendment proposal to clarify the text, as well as the bipartisan compromise amendment. Cynthia Lummis U.S. Senator.jpg Senator Cynthia Lummis (Republican – Wyoming) Background: Hailing from Cheyenne, Wyoming – Senator Lummis is one of the biggest Bitcoin evangelists in Washington D.C and has actively supported the industry very publicly long before the infrastructure bill sparked this major debate on cryptocurrency regulations. Back in June the Senator told the media that she believed Americans should begun acquiring Bitcoin (BTC) to protect their retirement savings as a hedge of uncontrolled inflation and debasement of the US Dollar (USD). She has revealed that she has significant Bitcoin holdings. Role: Alongside Senator Toomey, Lummis is a prominent voice defending cryptocurrencies on the Senate Banking Committee. A well-known crypto evangelist, she has stood at the heart of efforts to build a large coalition to protect crypto miners against the brokerage tax proposals in the infrastructure bill – lending her name to the first proposed amendment, voicing support against the White House backed attack on PoS miners, and in a demonstration of bipartisanship putting her name to the compromise amendment. Kyrsten Sinema (cropped).jpg Senator Kyrsten Sinema (Democrat – Arizona) Background: Senator Sinema is a moderate-Democrat and big advocate of bipartisan work in the Senate, originally from Tucson, Arizona. She has played a significant role in representing LGBT rights in the Senate, and has made a name by working regularly across the floor – to the glee of the GoP and to the irritation of the Democrats. She voted with Donald Trump’s position 25% of the time during his Presidential term, the second-most of any Democrat in the Senate. She is a co-founding member of the U.S. Senate Financial innovation Caucus alongside Lummis. Role: Seemingly the third musketeer in the defence against the crypto cash-grabs in the Infrastructure Bill, Senator Sinema has put her name to both the White House backed amendment, as well as the Bipartisan amendment. More importantly, she has been the leading Democrat of the pro-crypto industry coalition, acting as a key bridge between the two parties as unanimous compromise has been sought – this bold move has put her at odds with the Yellen Treasury administration and other prominent Democratic figures, she remains undeterred. Richard Shelby, official portrait, 112th Congress.jpg Senator Richard Shelby (Republican – Alabama) Background: The 87-Year old is a former Democrat, that switched to join the Republican party (GOP) in 1994 under President Bill Clinton, is a staunch Conservative. A native of Birmingham, Alabama – notable for being the birthplace of Veterans day – Shelby studied at the University of Alabama School of Law in 1963 during the famous ‘Standoff at the School Door’ between Governor George Wallace and the Alabama National Guard (acting on the Authorisation of President Kennedy). Role: Shelby is the Senator that stood against the entire Senate in his opposition to the bipartisan amendment that would seek to bring a cross-house consensus on the clarifications surround the new infrastructure bill’s overly-broad application of a brokerage tax across the crypto industry that could exempt crypto miners, node validators, and wallet service providers. Elizabeth Warren--2016 Official Portrait--.jpg Senator Elizabeth Warren (Democrat – Massachusetts) Background: A well known face in recent American politics, the Senator from Massachusetts has been a firebrand critic of Bitcoin, cryptocurrencies, and the DeFi industry at large. A failed candidate in the 2020 Democratic Primary, Warren commands one of the loudest voices in the Senate – and sits with a lot of influence as the Vice Chair of the Democratic Caucus in the Senate. Most vocal on financial and banking issues, Warren lead the establishment of the Financial Protection Bureau (set up in the aftermath of 2008) and was also responsible for congressional oversight of the Troubled Asset Relief Program following the financial crisis. This has made her an absolute hawk on investor protections, and has led to her harsh stance on cryptocurrency and crypto regulations. Role: Warren has emerged as the most outspoken critic of crypto in the U.S. Senate. Before the proposition of the Infrastructure bill, and preceding a key Senate Banking Committee hearing titled ‘Cryptocurrencies: What Are They Good For?’, Warren penned a firebrand letter to controversial crypto-opponent U.S. Treasury Secretary Janet Yellen calling on her to implement incredibly strict crypto regulations before they loss control of the innovative global industry. She surprisingly backed the rare bipartisan amendment proposal. “The idea behind the amendment in the bipartisan deal is simply to level the playing field on reporting,” said Senator Elizabeth Warren. “It’s not a direct tax on crypto, it’s simply a reporting requirement that’s in place everywhere else. That seems like the right approach.” Senator Ted Cruz – (Republican – Texas) Ted Cruz official 116th portrait.jpg Background: A well-known face in Republican circuits, Senator Ted Cruz represents Texas and is arguably one of the most vocal conservative voices in Congress – having placed second in the 2016 Republican Presidential Primary right behind Donald Trump. A figure of significant controversy in the aftermath of the 2021 Attack on the U.S. Capitol and a staunch supporter of the latter Trump Presidency, the Harvard Law graduate is a strong supporter of cryptocurrency and has been a key influence in the attraction of the crypto industry to his home state Texas. Role: A very prominent opponent of U.S. Treasury Secretary Janet Yellen, and an extremely vocal defender of the crypto industry – Cruz has backed multiple amendments, and lent his name to his own last ditch amendment aimed at completely removing the entire crypto component of the Infrastructure Bill from the legislative text. Following the failed bipartisan efforts last night Cruz was quick to tweet his dismay. What the Senate said tonight: Let’s tax the hell out of something we know nothing about, so we can pass a giant bill we haven’t read, and spend the American people’s money on stuff we can’t afford. It’s reckless & harmful. — Ted Cruz (@tedcruz) August 9, 2021 More crypto news and information If you want to find out more information about Solana 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 in this article do not necessarily represent the views of Coin Rivet. || Binance Smart Chain Beats Ethereum by Some Metrics Thanks to Latest ‘GameFi’ Craze: It wasn’t long ago when every public blockchain attempted to challenge Ethereum’s dominance in the sizzlingdecentralized finance(DeFi) sector. After Ethereum-based video game “Axie Infinity” became an instant success, blockchains have blossomed in the$100 billion gaming industry.
In the latest episode of the blockchain competition – justlike what happened with DeFi– Binance Smart Chain, the public blockchain supported by Binance, the world’s biggest centralized crypto exchange by trading volume, surpassed the Ethereum blockchain in daily transactions, again.
BSC previously flipped Ethereum on the number of transactions because of the success of PancakeSwap, a decentralized exchange on BSC in the midst ofa DeFi craze. This time, however, Binance’s success came thanks to a relatively little known game on BSC called “CryptoBlades.”
Related:Stoner Cats Chaos and the Mainstreaming of NFTs
Datafrom DeFi data tracking firm DappRadar shows that more than 621,000 users were on “CryptoBlades” in the past 30 days, while that number for “Axie Infinity” is a little above 271,000.
On July 31, Binance CEO Changpeng “CZ” Zhaotweeted: “#BinanceSmartChainhandled 10M+ transactions yesterday.#Ethereumhandled 1.2M.”
“#DeFi and #GameFi are growing,” he wrote ina second tweet. And in response to a question whether BSC is ready to handle 20 million transactions per day, Zhaowrote: “Not an expert. But I think we will find out soon enough.”
The series of tweets reflected Zhao’s excitement about crypto gaming’s growth on BSC, as someone who hasrarely acknowledged BSC’s ambition to challenge Ethereum.
Related:Ethereum Burns 36% of New Coin Issuance Over 2 Days
But what is “GameFi” and why are blockchains rushing to the sector?
“GameFi,” which combines gaming and DeFi into one word, is the gamification of financial mechanisms where users can earn profits by playing games. Another popular term for this sector is the “play-to-earn” model.
On the surface, the keyword is “gaming,” but at the core, “finance” is what matters the most for blockchains.
Both BNB, the utility token for Binance and BSC, and BUSD, a U.S. dollar-pegged stablecoin powered by Binance play an important role in crypto games on BSC.
For example, to buy “CryptoBlades’” native SKILL token, gamers must buy BNB first and swap their BNB for SKILL on ApeSwap, a decentralized exchange on BSC. That is a huge boost for BNB demand as well as for liquidity on ApeSwap.
Any transactions made on “CryptoBlades,” such as trading game characters and weapons, will require gamers to pay a certain amount ofgas feewith BNB.
In an interview with CoinDesk, Samsul Karim, ecosystem coordinator at Binance Smart Chain, said that BNB is used in many crypto games on BSC, but he also emphasized that game developers need to understand that users should be able to choose between different assets – whether it is BNB or BUSD.
Rather than adding financial value to BSC, Karim said that crypto gaming is bringing BSC “culture value.”
“Similar to how you would value an artwork, for example, like that piece of artwork, what is the economic output that it’s contributing towards society or any particular economy?” Karim said. “It can’t be compared in the same way as a DeFi lending protocol or a bank or something like that. it is producing cultural value.”
An executive from Polygon, a layer 2 product protocol for Ethereum, also appeared to minimize the economic value that gaming brings to Polygon. The India-based product recentlylauncheda unit called Polygon Studios to focus on blockchain gaming and non-fungible tokens (NFTs).
Shreyansh Singh, head of gaming and NFTs at Polygon Studios, said that the usage ofMATICtoken, the governance token of Polygon, on NFT and gaming powered by Polygon is not intentional; instead, it comes naturally as gamers in Ethereum-based games seekfaster, less costlyalternatives.
Binance and Polygon are not the only two eyeing the huge potential of a blockchain-based gaming industry.. Other crypto companies and blockchains are also taking big steps in this direction.
Crypto exchange FTX recently announced several NFT gaming-related investments, includinga sponsorship dealwith decentralized gaming startup Yield Guild Games (YGG).
But to most people in crypto, the combination of gaming and crypto seems like a perfect marriage.
“Crypto has been looking for a mass market use case,” Andrew Tu, an executive at quantitative trading firm Efficient Frontier, told CoinDesk. “Gaming is a sector that people have been hyping up for a long time. It’s the first area of crypto where the average Joe without a huge understanding of crypto or blockchain can participate.”
Indeed, “Axie Infinity,” the popular crypto gaming platform on Ethereum, has generated more than $220 million revenue in the past 30 days, making it the top revenue generator among all DeFi protocols and blockchains, Ethereum included, according to data from Token Terminal.
“’Axie Infinity’ also demonstrates a working use case for blockchain-based games, which paves the way for new entrants into the space,” Justin Barlow, a research analyst at digital asset data analysis firm The Tie, said. “With ‘Axie’s’ success it is likely we see major gaming conglomerates like Activision Blizzard or EA (Electronic Arts) entering the space in the coming years, bringing blockchain gaming to the masses.”
There are also risks for the hot GameFi industry, given how rapidly it has grown.
“With Yield Guild Games (YGG)token sale netting$12.5 million in 30 seconds, [it] shows that market participants will not hesitate to switch from one hot toy to another, no different toyield farmingcraze earlier in the year,” Denis Vinokourov, head of research at Synergia Capital, told CoinDesk, adding that the market is still too “nascent” to make any conclusions.
• Market Wrap: Bitcoin Rallies Above $42K as Bull Market Continues
• Rising Ether-Bitcoin Price Ratio Shows Crypto Risk Appetite || A Beginner’s Guide to Atomic Swaps: Atomic swaps are automatic exchange contracts that allow two parties to trade tokens from two differentblockchains. Sometimes referred to as atomic cross-chain trading, this type of mechanism completely eliminates the need for centralized third-party entities when executing trades. In a way, this system preserves the autonomy of crypto users and enables trustless transactions in which users do not need to know one another and are void of counterparty risks.
Due to the trustless, peer-to-peer nature of atomic swaps, it is widely considered one of the few truly decentralized trading techniques.
“Atomic” is a terminology used to connote processes that would either finalize or would not initiate at all. In other words, an atomic swap comes with functionalities that ensure that two sides of trade fulfill all predefined conditions before the trade can be completed. This is made possible by incorporating smart contracts, which are self-initiating programs that enforce the conditions governing the success of a transaction.
Related:What Is an Automated Market Maker?
To be more specific, an atomic swap uses a Hashed Timelock Contract (HTLC), which functions as a two-way virtual safe. As its name implies, this contract utilizes a sophisticated mathematical-based encryption mechanism called a hash function. Also, it introduces a time constraint such that transactions are reversed when either of the parties involved does not fulfill their sides of the bargain within a predefined time frame.
For example, the two parties involved may agree to set a two-hour time constraint for the atomic swap. In this scenario, the contract will return the deposited coins to their original owners when 2 hours elapses and not all of the trading conditions have been met.
Another important detail you need to know about the HTLC is that it requires two cryptography or encrypted keys. They are:
• Hashlock key: This key ensures that trades are only finalized when both parties submit cryptographic proofs (more on this later) that they have fulfilled their sides of the transaction.
• Timelock key:This is designed as a safety mechanism that helps traders set a deadline for atomic swaps. The mechanism ensures that deposited coins are returned to traders when the swap is not completed for one reason or the other before the deadline elapses.
To best explain the procedure for initiating atomic swaps, let’s assume Bob and Alice have agreed to execute a trade involvingbitcoinandethereum. Here, Bob has decided to trade 1 BTC in exchange for Alice’s 15 ETH. The first thing Bob needs to do is create a contract address where he will send his 1 BTC. Once he’s deposited his funds, the contract automatically generates a special key that only Bob can access. Think of this key as the password that unlocks the funds Bob just sent to the smart contract.
Related:¿Qué es un token cripto semifungible?
The contract uses this key to generate a hashed representation or an encrypted form of the key. Next, Bob sends the hash to Alice. By doing so, Alice only has access to the hashed form of the passcode used to lock Bob’s 1 BTC. In essence, she can confirm that he has locked the funds in the contract, but she cannot access or withdraw the funds – at least not yet.
After receiving the hashed key, Alice uses the key to generate a contract address of her own, where she can deposit her 15 ETH. Since both parties have locked their funds on the smart contract, all that is left is for Bob to do is claim the 15 ETH. He can do this because he has access to the passcode that unlocks the key used by Alice to lock her coins on the smart contract. Interestingly, in the process of unlocking Alice’s contract address, Bob will also reveal the passcode to Alice. As such, Alice can use this passcode to claim the 1 BTC and finalize the trade.
In the end, you will notice this process all boils down to the capability of both parties to submit cryptographic proofs. Here, cryptography connotes the process of encrypting and decrypting keys. Note that Bob had to initially encrypt a key then send the encrypted key to Alice. Since he possessed the original key, he can claim the coins that Alice used the encrypted key to lock. As one of the conditions for unlocking such coins though, Bob has to submit the original key to Alice. By doing so, Alice can then access the key and use it to claim the 1 BTC.
Atomic swap is considered a critical blockchain mechanism because it eliminates the need for intermediaries such as crypto exchanges. With this, traders can execute cross-chain trades without relying on the infrastructures of centralized trading platforms. Since intermediaries are sidelined while using atomic swaps, the transactions are fast, more affordable, and void of security incidents associated with custodial-based exchanges. All these benefits allude to the autonomy that atomic swap provides. In other words, users have more control over their assets since all trades are executed directly from their personal wallets.
Furthermore, the cross-chain trading mechanisms of atomic swaps promote a moreinteroperablecrypto ecosystem. Thanks to atomic swaps, it is becoming easier to conduct transactions across multiple blockchains. Lastly, atomic swaps eliminate counterparty risk since trades are either completed or never happen.
The techniques involved were firstdescribedby Sergio Demian Lerner in 2012. Although the idea was appealing at the time, certain processes had not been fleshed out. A year later, Tier Nolandevelopeda more robust procedure for initiating atomic swaps. But it wasn’t until four years later when the Decred teamcompletedan atomic swap between Decred and Litecoin that it was first successfully implemented. A few days later,Charlie Lee, the founder of Litecoin, tweeted the process had been successfully replicated for a litecoin-to-bitcoin trade.
Note that the original design of the atomic swap required both parties involved in the transaction to download the entire blockchains of the coins they planned to trade. This is what we call an on-chain atomic swap. A month after Decred and Charlie Lee executed the first sets of atomic swaps, Komodo introduced a “light mode” version that only requires special payment channels, which are offshoots of blockchains. With this, traders do not have to download the entirety of the blockchains of their preferred coins or wait on blockchain validators to finalize transactions.
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• What Is a ‘Semi-Fungible’ Crypto Token? || Bitcoin Price Predictions: Despite Recent Slump, Could BTC Hit $100K by Year-End?: Bitcoin (CCC: BTC-USD ) price predictions are heating up again and crypto traders may be in for a surprise with how high it goes by the end of the year. A render of bitcoin surrounding a smartphone representing price predictions. Source: Wit Olszewski/Shutterstock,com The price of Bitcoin hasnt been doing well lately. While it experienced a surge earlier this year that pumped it up to $63,000 per token, it wasnt able to maintain that strength. Instead, BTC has experienced a downward trend that pushed it below $30,000 earlier this week. However, it might be ready for a turnaround. Anthony Scaramucci believes there are great things in Bitcoins future. The financier has experience working at Goldman Sachs (NYSE: GS ) and is the founder of Oscar Capital Management and SkyBridge Capital . InvestorPlace - Stock Market News, Stock Advice & Trading Tips 7 Value Stocks to Buy Ahead of Possible Interest Rate Hikes Heres what he said when asked about his Bitcoin price predictions during an interview on CNBCs Squawk Box . So remember we established positions in Bitcoin in October. Our cost basis is between $8 and $18,000. I like Bitcoin here, I said to Joe Kernen, your colleague, its going to be $100,000 by year-end. I maintain that. I wanna applaud Cathie Wood for her steadfastness and her conviction related to Bitcoin. Getting Elon Musk and Jack Dorsey together, I think is letting people know the worlds biggest influencers are going to be involved in Bitcoin and scaling Bitcoin, and I dont want my clients to miss Bitcoin. If this is Amazon of 1997 to 2000, thats what I sorta feel Bitcoin is, I dont want to get juked out of it or faked out of Bitcoin, as its scaling to become this apex predator in cryptocurrency. BTC was up 1.4% over a 24-hour period on Friday morning. Theres more crypto coverage for traders down below. InvestorPlace tracks crypto news daily with our insight into the market. For today that includes what traders need to know about Ethereum (CCC: ETH-USD ) competitors, what to buy after the correction is over, as well as price predictions for ETH. You can find all of that at the following links! Story continues More Crypto News for Friday 3 Ethereum Competitors to Buy for a Crypto Summer 7 Cryptos to Buy After The Correction Dust Settles Ethereum Price Predictions: How High Will ETH Go After Elons Boost? On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines . More From InvestorPlace Stock Prodigy Who Found NIO at $2
Says Buy THIS Now It doesnt matter if you have $500 in savings or $5 million. Do this now. The post Bitcoin Price Predictions: Despite Recent Slump, Could BTC Hit $100K by Year-End? appeared first on InvestorPlace .
[Random Sample of Social Media Buzz (last 60 days)]
None available.
|
Trend: down || Prices: 47783.36, 47267.52, 48278.36, 47260.22, 42843.80, 40693.68, 43574.51, 44895.10, 42839.75, 42716.59
|
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 2019-09-13]
BTC Price: 10360.55, BTC RSI: 50.58
Gold Price: 1490.90, Gold RSI: 46.98
Oil Price: 54.85, Oil RSI: 46.49
[Random Sample of News (last 60 days)]
Facebook Libra Update: Regulation Takes Center Stage: Regulators the world over are gearing up to create a framework that could monitor, direct and control the way cryptocurrencies like bitcoin and Facebook’s FB Libra operate. Cryptocurrencies have been around for a while, but Facebook’s June 18 announcement that Libra would hit markets in 2020 has created the urgency. That’s because Facebook has a huge network of 2 billion people that could make the kind of difference to economies and governments that can’t be dreamed of by other fiat/crypto coin systems. And Facebook has a spotty history of maintaining users’ privacy and security. Facebook’s David Marcus, who joined the company from PayPal PYPL, back when it was still a part of eBay EBAY, is co-creator of Libra and the head of Switzerland-based Facebook company responsible for Libra. So in that capacity, he faced questions from the Senate Banking Committee and the House Committee on Financial Services last week. At the House Committee on Financial Services Chairwoman Maxine Waters has been sharply critical of Libra since its launch. So at the meeting on Wednesday, she said that Libra would allow the company "to wield immense power that could disrupt” governments and central banks. Given the repercussions for people, banks and governments all over the world, Democratic Representative Carolyn Maloney, strongly opposed the launch of Libra. She suggested that the company at least do a pilot program with a million users overseen by U.S. financial regulators, including the Federal Reserve. "I don't think you should launch Libra at all…At the very least you should agree to do this small pilot program," she said. Democratic U.S. Representative Alma Adams pointed to privacy and security issues for users: "You expect us to believe that you're going to start collecting financial data and not share it because you promised not to do that?" she said. There were also concerns regarding consumer protection and prevention of use for illegal activities like money laundering or terrorist financing. Story continues Republican U.S. Representative Ann Wagner mentioned every other concern while saying that the launch seemed hurried. "I'm concerned a 2020 launch date represents deep insensitivities about how Libra could impact U.S. financial security, the global financial system, the privacy of people across the globe, criminal activity and international human rights." Marcus explained that the company viewed Libra as a payment tool rather than a security or an exchange-traded fund (an indication that it was not subject to oversight by the SEC. The company hasn’t spoken to SEC Chairman Jay Clayton yet, although representatives have reportedly reached out to others in the organization). He said that it could be treated as a commodity under current law. While remaining noncommittal about a pilot program, he promised to do whatever was necessary to satisfy regulators and “get this right”. At the Senate Banking Committee On Tuesday, the senate committee had similar concerns and Marcus went about explaining what Libra was, how it could change the way people do personal finance, etc. He also mentioned consumer protections like making mandatory a valid photo ID. In addition, Marcus tried to push the idea that the U.S. should take a leading role in developing a new global currency before others did (interesting that the company didn’t choose the U.S. as its headquarters though). Others Are Also Concerned Treasury Secretary Steven Mnuchin, for one, is concerned about national security money laundering and other illicit activities. “We will not allow digital asset service providers to operate in the shadows.” “Bitcoin is highly volatile and based on thin air,” Mnuchin said. “We are concerned about the speculative nature of Bitcoin and will make sure that the U.S. financial system is protected from fraud.” Federal Reserve Chairman Jerome Powell thinks the broad adoption of digital currencies like Libra could be risky on multiple counts. President Donald Trump said that Libra and other cryptocurrencies should face banking regulations. He also said that the U.S. regulatory system may not be adequately equipped to handle the broad adoption of the huge digital payment system that Facebook envisaged. The Group of Seven (G7) Are Concerned Much the same concerns were raised at the G7 meeting in Chantilly, France. Country leaders were also concerned about the safeguards to withstand a run on reserves and users' privacy and ownership rights. Benoit Coeure, the European Central Bank board member said his G7 working group on stablecoins would work on the matter until the International Monetary Fund's annual meeting in October, after which it will hand over the matter to the Financial Stability Board of global financial regulators. He also outlined the broad risks- "A global stablecoin for retail purposes could provide for faster and cheaper remittances, spur competition for payments and thus lower costs, and support greater financial inclusion. However ... they give rise to a number of risks related to public policy priorities including anti-money laundering and countering the financing of terrorism, consumer and data protection, cyber resilience, fair competition and tax compliance…Market discipline is useful but I wouldn't see it as progress to shift monetary sovereignty from governments to private multinationals." Finance Minister Bruno Le Maire of France, which holds the rotating presidency of the G7 top world economies, told a news conference, "We cannot accept private companies issuing their own currencies without democratic control." He spoke for the ministers and governors to say that "stablecoins and other various new products currently being developed, including projects with global and potentially systemic footprint such as Libra, raise serious regulatory and systemic concerns." The G7 also agreed to tax large tech companies for money they made in a country even if they weren’t physically present. They agreed to fix a minimum taxation to eliminate competition between themselves for foreign investments. France, Italy, Britain and Spain already have a plan in force that could be replaced with the new tax. What the Market's Saying Coin Center Executive Director Jerry Brito says that Libra is a company-issued asset whereas a true cryptocurrency has decentralized control and wasn’t issued by any central authority. For instance, no company issues bitcoin. Blockchain Association Director Kristin Smith seemed to welcome the publicity Libra brought while remaining wary about Facebook’s past. It’s mixed,” she said. “We certainly don’t want the whole industry to become associated with some of the issues that Facebook has had as a company in the past.’’ Cryptocurrencies were appreciating after the announcement of Libra, but lost some value in the last week as regulators pressed down on Facebook. All the major currencies including bitcoin, ethereum and ripple responded. Conclusion A few weeks into the debate and it does look like Facebook has bitten off more than it can chew. To convince regulators the world over about the efficacy of broadly adopting a stable coin is going to be neither easy, nor cheap. No doubt the idea was innovative and something governments might pursue in the future (as the People’s Bank of China has apparently said it’s doing), especially given the growing digitization of services. But there doesn’t seem to be a good reason they would turn over control to a private multinational company. And then of course there’s the question of how Facebook has reacted to its mistakes/transgressions in the past. None of that inspires a lot of confidence. As Senator Sherrod Brown said, it is like the “toddler” with the book of matches. “Facebook has burned down the house over and over and called every arson a learning experience.” That said, if the government wants to really block the company, it has to come up with some legislation or designate the regulator. Facebook has a Zacks Rank #2 (Buy). Other buy-ranked companies include Yirendai YRD, Dropbox DBX and and Healthstream HSTM. Or you can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here . Breakout Biotech Stocks with Triple-Digit Profit Potential The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases. Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +98% , +119% and +164% in as little as 1 month. The stocks in this report could perform even better. See these 7 breakthrough stocks now>> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report eBay Inc. (EBAY) : Free Stock Analysis Report Facebook, Inc. (FB) : Free Stock Analysis Report Yirendai Ltd. (YRD) : Free Stock Analysis Report HealthStream, Inc. (HSTM) : Free Stock Analysis Report PayPal Holdings, Inc. (PYPL) : Free Stock Analysis Report Dropbox, Inc. (DBX) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research || Amazon This Week Lost Its Last Bear Among Wall Street Analysts: (Bloomberg) -- Amazon.com Inc.’s last bear has given up. Allen Gillespie came into this week the only one of 55 financial analysts tracked by Bloomberg with a “sell” rating on the company’s shares. In a note to clients on Tuesday, he upgraded the retail and technology giant to “hold.” His was a decidedly contrarian bet: The shares have gained about 80% since Gillespie recommended selling them back in 2017. Still, the analyst, president of FinTrust Investment Advisory Services LLC, isn’t exactly upbeat on Amazon’s prospects. His target price, $1,611, remains the lowest on Wall Street and some 13% below where Amazon shares were trading on Friday morning. Gillespie -- who tries to check the value of stocks by gauging their worth in Bitcoin and gold, as well as dollars -- says Amazon’s value has slipped compared with the cryptocurrency. But in an environment of declining interest rates, investors are likely to continue piling into well-liked stocks like Amazon, he said. So, hold it is. As for Amazon’s businesses, Gillespie says other analysts are too optimistic. Amazon is investing more than observers believe, he said. And cloud computing isn’t proving as lucrative as investors think. “There are some embedded assumptions in people’s models that are probably more aggressive than is called for,” he said. Gillespie, who started following Amazon with a sell recommendation in July 2017, has an eclectic coverage area. Most analysts specialize in a sector -- Amazon’s watchers are often retail or internet experts. Gillespie follows Amazon, some financial companies, an exchange-traded fund and a 3D printing company. His aim isn’t to track Amazon quarter-to-quarter, he said. “We put pieces out every now and then as thought experiments.” Part of the thought experiment with Amazon is to find a way to describe the sprawling company. As a logistics-savvy retailer, Amazon might be compared with Walmart or Kmart. Taking a longer view, he said, Amazon’s prowess puts it in rarer company, perhaps a peer to the Dutch East India Company. “To find a comp, you really have to go back to history’s great monopolies,” he said. Gillespie said he won’t miss being Amazon’s lone bear. “I’ve gotten a lot of questions about it,” he said, including an interview with a French documentary crew examining Amazon. Gillespie figures it was all worth it. Sometimes, he said, “there’s no alternative thinking about critical issues.” To contact the reporter on this story: Matt Day in Seattle at [email protected] To contact the editors responsible for this story: Jillian Ward at [email protected], Robin Ajello, Molly Schuetz Story continues For more articles like this, please visit us at bloomberg.com ©2019 Bloomberg L.P. View comments || 2 Analysts Weigh In On Exxon Mobil's Q2 Earnings: Exxon Mobil Corporation(NYSE:XOM) reportedsecond-quarter resultsto mixed reaction from analysts.
The Analysts
Credit Suisse'sWilliam Featherstonmaintains a Neutral rating on Exxon with a $74 price target.
Bank of America'sDoug Leggatemaintains at Buy, $100 price target.
Credit Suisse: Risks To 2020 EPS
Exxon earned 61 cents per share in the quarter, which fell short of the Street's estimate of 66 cents per share due to weaker performance across all major segments, Featherston wrote in a note. Upstream earnings of $2.8 billion fell 9% from last year, Downstream earnings of $460 million was down 36% year-over-year and Chemicals net income dropped 9% to $186 million.
The company's challenges in the second quarter appear to have carried over to the third quarter as management guided itsUpstream production to be unchanged from the second quarter. Management also indicated it expects to see ongoing weakness in Chemical and R&M margins.
Featherston said Exxon's earnings report marks the second consecutive EPS miss and even if earnings improve in the back half there is risk to the Street's current full-year EPS estimate of $5.07.
BofA: Top Major Oil Pick
Exxon clearly faced headwinds throughout the first half of 2019 but it "has nothing to hide," Leggate wrote in a note. In fact, the company has much to boast, including improved transparency in communicating its strategy.
View more earnings on XOM
The case for naming Exxon as a top pick within the major oil group is threefold, including attractive valuation versus the stock's fair value of $100 per share, a dividend yield of 4.5% affords investors to "wait" and a growth story that's now starting to play out.
Price Action
Shares of Exxon traded lower by 2.6% at $70.10 Monday afternoon.
Related Links:
What The OPEC, OPEC+ Deal Means For Oil Investors
The Bearish Case On A Big Energy ETF
Latest Ratings for XOM
[{"Aug 2019": "Jul 2019", "": "", "Upgrades": "Downgrades", "Sell": "Outperform", "Hold": "Sector Perform"}, {"Aug 2019": "Jul 2019", "": "", "Upgrades": "Maintains", "Sell": "", "Hold": "Equal-Weight"}]
View More Analyst Ratings for XOMView the Latest Analyst Ratings
See more from Benzinga
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© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Roger Ver Steps Into Chairman Role as Bitcoin.com Adds New CEO: Stefan Rust has replaced Roger Ver as CEO ofBitcoin.com.
Longtime CEO and Bitcoin Cash leaderVeris now the Executive Chairman of Bitcoin.com, according to arelease. Ver wasCEOsince 2016.
Rust joined Bitcoin.com six months prior to his appointment as Global Head of Corporate and Business Development. Before joining the website, Rust founded Exicon, a marketing automation platform.
Related:Judge Rules for Roger Ver in Craig Wright Libel Lawsuit
Ver and Rust intend to co-lead Bitcoin.com. Typically, executive chairmen operate in an oversight role for financials and company direction. Information on the former CEO’s new role in the company has not been disclosed, however.
Ver and Rustvia Bitcoin.com
“I’m hugely excited to take on the role of CEO working alongside Roger. Together we can now turbocharge the awesome team and great brand that is Bitcoin.com,” Rust said. “It’s going to be a wild ride, so don’t miss it!”
Related:Craig Wright’s Wife Could Testify Under Oath in Ongoing Kleiman Trial
A United Kingdom court struck down a recentlibelsuit against Roger Ver by Bitcoin SV proponent Craig Wright. Wright alleged Ver libelled him in a mid-April video saying he was not pseudo-anonymous bitcoin creator Satoshi Nakamoto. The judge found little evidence to corroborate Wright’s claim of reputational damages.
Ver did not respond to a request for comment by press time.
Image via CoinDesk archives
• Crypto Genius or Fake? The Craig Wright Saga Explained
• Monarch Unveils a Marketplace and Crypto Trading Platform || Increasing Use of Mobile Payments Puts Fintech ETFs in Focus: This article was originally published onETFTrends.com.
While the best days of the famed FAANG (Facebook, Apple, Amazon, Netflix, Google) stocks may have been missed by investors, it's important to note where the next growth spurt could be in the technology sector. One area to take note of is the mobile payments sector, which Apple is embracing wholeheartedly.
"During the Q3 earnings call, Tim Cookreportedthat Apple Pay is completing 1 billion transactions per month, nearly double the amount from a year ago. Much of this growth can be attributed to China," noted REX Shares president Scott Acheychek in an email.
"According toBain10% of U.S. consumers used mobile payments last year, whereas China’s adoption rate is 80%," he added. "While WeChat Pay and Alipay have a huge lead in China's mobile payment landscape, Apple Pay has quietly gained 17% market share."
The payment processing space is seeing a growing number of big bets placed by venture capitalists, which could give financial technology exchange-traded funds (ETFs) a boost. It's a $1.9 trillion industry that the largest tech firms are trying to tap into.
Payments are increasingly going digital with a number of start-ups seeing venture capital seed money to help facilitate online purchases. According to research company Pitchbook, data shows that investors put $18.5 billion into the payment processing sector in 2018--an increase of five times the previous year.
That influx of investment capital was spread over 235 deals compared to 258 in 2017. China’s Ant Financial was responsible for raising $14 billion in 2018, which shows its confidence in the payment processing space.
A number of mergers and acquisitions have already taken place, such as the following:
• Stripe raised a total of $345 million in its latest investment round at a $22.5 billion valuation.
• Try-before-you-buy payments firm Klarna recently closed a $100 million internal round of investing.
• GoCardless got a $75 million cash injection from Alphabet and Salesforce.
Earlier this year, international financial services provider Fidelity National Information Services agreed to purchase payment processing company Worldpay for $34 billion, making it the biggest deal thus far in a rapidly-expanding space that could put fintech exchange-traded funds (ETFs) in play.
ETFs to look at in the growing fintech space include theGlobal X FinTech ETF (FINX) and theARK Fintech Innovation ETF (ARKF) . Both ETFs are up year-to-date--FINX is up 22 percent and ARKF is up 5 percent.
ARKF invests in equity securities of companies that ARK believes are shifting financial services and economic transactions to technology infrastructure platforms, ultimately revolutionizing financial services by creating simplicity and accessibility while driving down costs.
For more market trends, visitETF Trends
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READ MORE AT ETFTRENDS.COM > || Ethereum & Monero’s XMR Daily Tech Analysis –02/09/19: Ethereum slipped by 0.35% on Sunday. Partially reversing a 2.07% gain from Saturday, Ethereum ended the day at $171.29.
A bullish start to the day saw Ethereum strike an early morning intraday high $173.98 before hitting reverse.
Falling well short of the first major resistance level at $176.12, Ethereum slid to a late afternoon intraday low $168.03.
In spite of the reversal, Ethereum held above the first major support level at $166.62.
Finding support from the broader market, Ethereum recovered to $170 levels late on to limit the downside on the day.
For the week, Ethereum fell by 7.83%, with a 7.6% tumble on Wednesday doing the damage.
The extended bearish trend, formed at late April 2018’s swing hi $828.97, remained firmly intact. A reversal from June’s current year high $364.49 back through the 23.6% FIB of $257 reaffirmed the extended bearish trend.
At the time of writing, Ethereum was up by 0.2% to $171.64. A choppy start to the day saw Ethereum strike an early morning high $172 before falling to a low $170.54.
Steering clear of the major support and resistance levels, Ethereum moved back through to $171 levels and into the green.
Ethereum would need to hold onto $171 levels to support a run at the first major resistance level at $174.17.
Support from the broader market would be needed, however, for Ethereum to break through Sunday’s high $173.98.
Barring a broad-based crypto rally, Ethereum would likely fall short of $175 levels for a 2ndconsecutive day.
Failure to hold onto $171 levels could see Ethereum slide back into the red. A fall through the morning low $170.54 would bring the first major support level at $168.22 into play.
Barring a crypto meltdown, Ethereum should steer clear of sub-$167 support levels on the day.
Major Support Level: $168.22
Major Resistance Level: $174.17
23.6% FIB Retracement Level: $257
38.2% FIB Retracement Level: $367
62% FIB Retracement Level: $543
Monero’s XMR rallied by 6.47% on Sunday. Reversing a 0.71% loss from Saturday with interest, Monero’s XMR ended the day at $71.74.
Range-bound through most of the day, Monero’s XMR eased from an early morning high $67.57 to a late afternoon intraday low $66.92.
In spite of the pullback, Monero’s XMR held above the first major support level at $66.35.
Finding support from the broader market, Monero’s XMR rallied to a late intraday high $74.59.
Monero’s XMR broke through the major resistance levels and held above the third major resistance level at $71.17 at the day end.
The Sunday rally reduced the losses for the week to 11.1% and returned Monero’s XMR to the crypto top 10 by market cap.
For Monero’s XMR, the extended bearish trend formed at late April 2018’s swing hi $298 remained intact. The July fall back through the 23.6% FIB of $99, reaffirmed the extended bearish trend, following 15thDecember’s swing lo $37.18.
At the time of writing, Monero’s XMR was down by 1.1% to $70.95. A bearish start to the day saw Monero’s XMR fall from an early morning high $71.84 to a low $70.70.
Monero’s XMR left the major support and resistance levels untested early on.
Monero’s XMR would need to move back through to $71.1 levels to take a run at the first major resistance level at $75.25.
Support from the broader market would be needed, however, for Monero’s XMR to break through Sunday’s high $74.59.
Barring a broad-based crypto rebound, Monero’s XMR will likely struggle to break out from $72 levels.
Failure to move back through to $71.10 levels could Monero’s XMR see red through the day.
A slide back through the morning low $70.70 would bring sub-$70 levels back into play. Barring a crypto meltdown, however, Monero’s XMR should steer clear of the first major support level at $67.58.
Major Support Level: $67.58
Major Resistance Level: $75.25
23.6% FIB Retracement Level: $99
38.2% FIB Retracement Level: $137
62% FIB Retracement Level: $198
Please let us know what you think in the comments below.
Thanks, Bob
Thisarticlewas originally posted on FX Empire
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• Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 01/09/19
• U.S Mortgage Rates See Slight Uptick, While Applications Slide || Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 21/07/19: Bitcoin Cash ABC rallied by 5.57% on Saturday. Reversing a 2.01% fall from Friday, Bitcoin Cash ABC ended the day at $325.
Bullish from the start of the day, Bitcoin Cash ABC rallied from an early intraday low $307.86 to a late afternoon intraday high $343.65.
Bitcoin Cash ABC broke through the first major resistance level at $316.71 and second major resistance level at $325.57.
Whilst steering well clear of the major support levels on the day, Bitcoin Cash ABC came up short of the 38.2% FIB of $359.
At the time of writing, Bitcoin Cash ABC was up by 1.05% to $328.42. A bullish start to the day saw Bitcoin Cash ABC rise to a morning high $331 before easing back.
Falling short of the first major resistance level at $343.15, Bitcoin Cash ABC fell to a morning low $321.41 before finding support. Bitcoin Cash ABC steered well clear of the first major support level at $307.36 early on.
For the day ahead, a hold above $325 levels would support another run at the first major resistance level at $343.15.
Bitcoin Cash ABC would need the support of the broader market, however, to break out from the morning high $331.
Barring a broad-based crypto rally, Saturday’s high $343.65 and the first major resistance level should limit any upside on the day.
Failure to hold above $325 levels could see Bitcoin Cash ABC test the first major support level at $307.36.
Barring a crypto meltdown, Bitcoin Cash ABC should steer clear of sub-$300 support levels on the day.
Litecoin rose by 1.86% on Saturday. Partially reversing a 2.61% fall from Friday, Litecoin ended the day at $100.48.
A choppy morning saw Litecoin recover from an early intraday low $97.53 to strike a morning high $101.64.
Steering clear of the major support and resistance levels, Litecoin eased back to $98 levels before hitting an intraday high $106.04.
A late pullback limited the upside on the day.
Whilst steering clear of the support and resistance levels, the 38.2% FIB of $99 continued to be in play.
At the time of writing, Litecoin was down by 2.2% to $98.27. Tracking the broader market, Litecoin struck an early morning high $101.86 before hitting reverse.
Litecoin fell to a morning low $96.77 before recovering to $98 levels. The reversal saw Litecoin fall through the 38.2% FIB of $99 to come within range of the first major support level at $96.66.
For the day ahead, a move back through to $101 levels would support a run at the first major resistance level at $105.17.
Litecoin would need the support of the broader market, however, to break out from $101 levels.
Barring a broad-based crypto rebound, Litecoin would likely continue to struggle at the 38.2% FIB.
Failure to move back through to $101 levels could see Litecoin fall deeper into the red. A fall through the first major support level at $96.66 could bring the second major support level at $92.84 into play.
Ripple’s XRP gained 4.19% on Saturday. Following a 0.26% fall from Friday, Ripple’s XRP ended the day at $0.33278.
A bullish start to the day saw Ripple’s XRP rise from an early intraday low $0.31822 to a morning high $0.3330.
Steering clear of the major support levels, Ripple’s XRP broke through the first major resistance level at $0.3246 and second major resistance level at $0.3297.
Recovering from pullback to $0.32 levels, Ripple’s XRP rallied to a late intraday high $0.34097.
Ripple’s XRP broke back through the first and second major resistance levels. Ripple’s XRP came up short of the third major resistance level at $0.3422, however.
At the time of writing, Ripple’s XRP was down by 1.47% to $0.32788. A mixed start to the day saw Ripple’s XRP hit a morning high $0.33501. Tracking the broader market, Ripple’s XRP fell back to a morning low $0.3260.
In spite of the early moves, Ripple’s XRP steered clear of the major support and resistance levels early on.
For the day ahead, a move back through to $0.33 levels would support another run at the first major resistance level at $0.3431.
Ripple’s XRP would need support form the broader market, however, to break out from Saturday’s high $0.34097.
Barring a broad-based crypto rally, Saturday’s high and the first major resistance level should limit any upside on the day.
Failure to move back through to $0.33 levels could see Ripple’s XRP struggle on the day. A fall through the morning low $0.326 would bring the first major support level at $0.3203 into play.
Barring a crypto meltdown, Ripple’s XRP should steer clear of sub-$0.31 support levels.
Please let us know what you think in the comments below
Thanks, Bob
Thisarticlewas originally posted on FX Empire
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• Forex Daily Recap – Strong 108.73 Resistance Rejected Ninja’s Upside || Moon talks lessons learned from Crypto Prime Day: It is now possible to buy stuff on Amazon with Bitcoin et al, thanks to US startup Moon . Earlier this year, it announced that any Lightning Network-enabled wallet could now be used through its Chrome browser extension. Prior to this, a small group of beta users tapped Moon to spend crypto on e-commerce sites by connecting the browser extension to exchange accounts like Coinbase. “[The extension] will pop up a QR code and it will have the Lightning invoice, which you could also copy and paste if you can’t use the QR code for some reason, and you’ll be able to pay with your favourite Lightning wallet,” Moon CEO Ken Kruger commented. As an added bonus, it was possible to get 5% off during Prime Day earlier this month when using Moon at Amazon.com . In a Medium post , Kruger discusses four things learned from the initiative. Since launching, people have been pretty much evenly split on their choice of payment method: Coinbase is used 49.9% of the time and Lightning Network for 50.1% of all transactions. But during the two days of ‘Crypto Prime Day’, there was a drastically different split. About two out of every three transactions were made via Coinbase, up roughly 16.5 percentage points versus the all-time average. One reason could be limits. “The Lightning Network protocol has a hardcoded limit of 0.042 BTC per transaction, which was about $428.59 on the first day of Prime Day,” Kruger writes. “With Moon, users who opt to pay via Coinbase can spend up to $1,000 per transaction. And Coinbase users did spend more than Lightning Network users during Crypto Prime Day: the average Coinbase cart size was $145.39, while the average Lightning Network purchase was just over $60. This lead to Coinbase payments accounting for about 83% of the total transaction volume over the two days.” Another reason could be recent changes made to how Moon integrates with Coinbase. “We eliminated onboarding hurdles, added support for 2FA and otherwise made paying via Coinbase a more seamless experience. Since the change went live, we’ve seen a steady increase in Coinbase transactions, up from an even all-time split to just about three out of every five transactions. Making the change ahead of Crypto Prime Day might have tipped the scales in Coinbase’s favour.” Story continues Bitcoin rules Somewhat unsurprisingly, Bitcoin was by a wide margin the most popular cryptocurrency during Prime Day. It made up 86.1% of transaction volume (it usually accounts for 81.3%). Although Litecoin has historically been Moon’s second most popular currency, accounting for a tick above 11% of all currency spent, it dipped to a tie for third with Bitcoin Cash during Prime Day. Ether jumped to second place with just about 7% of all transaction volume. Prime Day was a two-day event this year, spanning 15th and 16th July. And while Moon set personal bests for number of transactions and transaction volume on both days, transaction volume dropped 36% from day one to day two. “What’s intriguing is that the total transactions on both days were about the same, but the average cart value dropped considerably,” Kruger notes. “There are a number of potential reasons for this: perhaps there were better deals on day one, or maybe the best deals were all gone. We know, for example, that some products with more notable deals ran out of stock on day one, like the PS4 Slim and Pro bundles, which were discounted a steep $100-$200.” Or perhaps the price of Bitcoin played a role. While it stayed above $10k and almost hit $11k on day one, its price fell under $9,500 on day two. “The psychological impact of Bitcoin dropping below $10k may have made some buyers skittish: the average cart size on day two was about 37% less than day one,” Kruger concludes. The post Moon talks lessons learned from Crypto Prime Day appeared first on Coin Rivet . || Number of bitcoin addresses with at least 10 bitcoins reaches all-time high: The number of Bitcoin addresses holding at least 10 bitcoins ($105,000) recently hit an all-time high. As of September 1, there are 157,000 addresses holding at least 10 BTC—representing the top one percent of all Bitcoin holders—according to data from Coin Metrics . Beyond this, there are currently 614,500 addresses holding between 1 to 10 BTC, while around 0.5 percent of all Bitcoin addresses hold between 10 to 100 BTC. This doesn't necessarily mean that those addresses are each owned by one person. One address may contain money owned by lots of people—such as a crypto exchange wallet—and many addresses may be owned by the same person. But it does show that people are continuing to accumulate Bitcoin. Photo Credit: Coin Metrics According to blockchain analytics firm IntoTheBlock, the bulk of these high-net-worth Bitcoin holders are likely to be in profit. In total, around 83 percent of all Bitcoin holders bought their coins at a lower price than it is currently worth today. This means there should be less selling power of the coin—and could be a reason why its market dominance keeps rising. Bitcoin isn't the only cryptocurrency that has seen the number of significant holders peak this year. The number of Ethereum addresses holding at least one ten-billionth of the current supply also recently hit an all-time high. But that's 0.0108 ether, which is worth a trifling $1.86—not something to go crazy about. View comments || Bitcoin Tech Analysis – Recap and Mid-Day Review: Bitcoin tumbled by 7.72% on Wednesday. Following on from a 4.44% fall on Tuesday, Bitcoin wrapped up the day at $10,064.6.
Bearish from the start of the day, Bitcoin fell from an early intraday high $10,909 to a late morning low $10,403.
The early pullback saw Bitcoin fall through the first major support level at $10,646.67.
Bitcoin found support through the late morning to move back through the first major support level before succumbing to market forces.
A broad-based crypto sell-off saw Bitcoin slide to a late intraday low $9,966 before recovering to $10,000 levels.
The afternoon sell-off saw Bitcoin fall through the first major support level at $10,646.67 and second major support level at $10,389.33. Bitcoin’s fall to sub-$10,000 was the first since 1stAugust.
For the Bitcoin bulls, the near-term bullish trend, formed at mid-December’s swing lo $3,215.2 remained intact. Bitcoin continued to find support above the 38.2% FIB of $9,734.
5 days in the red out of the last 6 left Bitcoin in the red for the current month, however. To Tuesday, Bitcoin was down by 0.23%.
While Bitcoin’s dominance held relatively steady at 68% levels, the sell-off saw Bitcoin’s market cap slide from $190bn levels to a low $172.99bn before finding support.
At the time of writing, Bitcoin’s market cap stood at $178.49bn.
There were no major news events that contributed to the recent downward trend. Risk aversion across the more mature asset classes, however, failed to provide support. The latest moves suggest that Bitcoin and the broader crypto market are yet to be considered a safe haven.
At the time of writing, Bitcoin was down by 1.34% to $9,929.5. A mixed start to the day saw Bitcoin rise to an early morning high $10,249 before hitting reverse.
Falling well short of the first major resistance level at $10,660.4, Bitcoin slid to a mid-morning low $9,522.
The early morning sell-off saw Bitcoin fall through the 38.2% FIB of $9,734 and first major support level at $9,717.4.
Bitcoin found support from the broader market in the last hour, leading to a move back through the first major support level and 38.2% FIB.
Holding above the 38.2% FIB of $9,734 through the early afternoon would support a run at $10,000 levels.
Bitcoin would need the support of the broader market, however, to take a run at the morning high $10,249.
Barring a broad-based crypto rebound, Bitcoin would likely fall well short of the first major resistance level at $10,660.4.
Failure to hold above the 38.2% FIB of $9,734 could see Bitcoin slide deeper into the red.
A fall back through the first major support level to $9,500 levels would bring the second major support level at $9,370.2 into play.
Barring another crypto meltdown, however, we would expect Bitcoin to steer clear of sub-$9,000 support levels.
Clickhereto Get Into Cryptocurrency Trading Today
The article was written byBharat Gohri, Chief Market Analyst ateasyMarkets
Thisarticlewas originally posted on FX Empire
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[Random Sample of Social Media Buzz (last 60 days)]
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#LESBIAN LESBIAN #ESBIAN #LSBIAN #LEBIAN #LESIAN || Hourly price update (USDT):
• BSV (Bitcoin): $131.75
Dead forks:
• BTC (Blockstream Turd Coin): $10035.00
• BCH (BTrash): $302.17 || New York Gives Bitlicense to Crypto Derivatives Provider Seed CX https://t.co/4Shww5tDet || @SynQSuite @Chiiaa5I @CryptoFinally @SynQIO @_CryptoCurator @nrek @david_hoverman @nick__io @duyisalilazn @cryptotim @DailyChainNews damn btc || Contract Licensed Medicare Insurance Agent - Industry-best comp plan, trusted carriers, bonuses! - [ 📋 More Info https://t.co/NSqhru0umY ] #tech #jobs #Hiring #Careers #JerseyCity #United States #BitCoin #ETH #crypto https://t.co/Gh59lnRALP || Bitcoin never gets seized at Heathrow Airport || 現在の価格は 308.07 USD 米ドルです。前回比は-1.57米ドル(-0.51%)です。 #ビットコインキャッシュ #bitcoin #btc #bcc via @CoinMKTCap || Selling STACKED OG SKULL & GHOUL TROOPER ACCOUNT
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Trend: down || Prices: 10358.05, 10347.71, 10276.79, 10241.27, 10198.25, 10266.42, 10181.64, 10019.72, 10070.39, 9729.32
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Market Wrap: Bitcoin and Ether Close the Week Lower: Price Action Bitcoin and ether both declined in price Friday, while the correlation between the two assets moderated slightly. Bitcoin ( BTC ) recently declined 0.42% on moderate daily volume. Overnight prices traded in a tight range between $19,500 and $19,800. Prices declined 0.85% as U.S. markets opened around 9:30 a.m. ET before reversing course during the next hour. Ether ( ETH ) fell 3% on Friday, marking the fifth decline within the last six trading days. Trading volume for the second-largest cryptocurrency by market cap after bitcoin aligned with its average daily volume over the most recent 20 days. The 30-day correlation coefficient between BTC and ETH declined to 0.77, its lowest level since June 12. The correlation coefficient measures the relationship of price movement between two assets, and ranges between 1 and -1. A correlation of 1 implies a direct relationship between assets, while a correlation of -1 signals an inverse relationship. A declining correlation, as is the case here, represents a diminishing relationship. For some traders, a weakening relationship can signal a fundamental change between two assets, causing the traders to reevaluate their investment strategy. For others, it may represent a short-term dislocation in price that can be exploited upon expectations that the correlation will again strengthen. Economic Calendar: Economic data was relatively light Friday. The University of Michigan’s Consumer Sentiment index, which measures consumers’ view of economic growth, rose to a five-month high of 59.5 in September. Consumers’ one-year expectations for inflation declined to 4.6% from 4.8%, 45% below the current inflation rate of 8.3% . Whether in line with reality or not, inflation expectations are important in that if consumers expect prices to rise, they’re more likely to purchase items immediately rather than wait. The effect of this often results in higher prices as increased demand chases supply. U.S. Equities: Traditional equities declined, with the Dow Jones Industrial Average (DJIA), tech-heavy Nasdaq composite and S&P 500 down 0.5%, 1.1% and 0.8%, respectively. Story continues Commodities: Crude oil traded 0.24% lower, while natural gas fell 6.1%. Copper futures increased 1.3%, while gold’s price increased 0.4%. The Dollar Index (DXY) was flat, rising 0.08% The CoinDesk Market Index (CMI) , a broad-based market index to measure the performance across a basket of currencies, declined 0.97%. Latest Prices ● Bitcoin ( BTC ): $19,621 −0.9% ● Ether ( ETH ): $1,434 −4.4% ● CoinDesk Market Index ( CMI ): $974 −1.4% ● S&P 500 daily close: 3,873.24 −0.7% ● Gold: $1,684 per troy ounce +1.1% ● Ten-year Treasury yield daily close: 3.45% −0.01 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 Ether outpaces bitcoin to the downside as the relationship between the two assets weakens. ETH fell 3% on Friday, with the price declining 15% over the last seven days. BTC, by comparison, declined 0.80%, with a seven- day performance of -3%. BTC and ETH are down 59% and 60% in value for the year to date, respectively. The recent divergence in performance is illustrated in the decline in the two assets’ correlation coefficient to 0.77. ETH has been outperforming BTC for months, and the ETH/BTC trading pair rose 53% between July and September. Since a peak on Sept 8, the ETH/BTC pair has declined 14%. Much of this may be a byproduct of the “sell-the-fact” impact of the Ethereum Merge, the upgrading of the blockchain, which took place early Thursday. With 180- and 365-day correlations of 0.96 and 0.97 respectively, investors could be expecting the relationship between BTC and ETH to strengthen again. There are fundamental arguments as to why the correlation between the two assets should diminish. Ethereum’s conversion to a proof-of-stake consensus mechanism puts in place a distinctly different method of securing the network than exists with Bitcoin. The ability for ETH holders to stake their assets allows ETH to be used both as a store of value as well as a means to generate cash flow. A potential result is that staking yields may have an increased impact on the demand for ETH in both spot and futures markets. That distinction alone may change the way traders view the assets, though the extent to which they do remains to be seen. Investors are also likely to pay greater attention to ETH’s supply growth. As stated in Thursday’s Market Wrap , the post-Merge supply of ETH declined by approximately 254 ETH as of 18:20 UTC. Today’s supply of ETH shows a post-Merge increase of approximately 395 ETH. For proper context however, estimates are that ETH’s supply would have increased by more than 20,000 as of today, had the Merge not occurred. On a technical basis , ETH is approaching “oversold” levels when using the Relative Strength Index (RSI) indicator. RSI measures price momentum, which signals if an asset is potentially overbought (readings above 70), or oversold (readings below 30). With an RSI of 34, ETH is approaching levels where traders may wish to gain exposure. (Glenn Williams Jr./TradingView) Altcoin Roundup Ethereum Merge Has Tied Ether Futures Activity to Staking Yields, Traders Say: Stakers have been and will be natural sellers in futures and perpetual futures and the hedging activity will increase as staking yields rise. Read more here. Ethereum Proof-of-Work Network Sees Complaints on Day 1 Amid Data Goof-Up: Users said they weren't able to access the blockchain's servers using the public information and attempts to link it to a crypto wallet failed. Read more here. Ethereum Miner Chandler Guo Predicts 90% of PoW Miners Will Go Bankrupt: The Merge put a big hurt on mining, the proof-of-work (PoW) advocate told CoinDesk TV. He believes the Ethereum fork he backs will draw what miners remain as the glitches are fixed. Read more here. Trending Posts Listen 🎧: Today’s "CoinDesk Markets Daily" podcast discusses the latest market movements and some thoughts on practical privacy from an iconic early cypherpunk. Biden’s Executive Order Produces Few Answers in Crypto Reports From US Treasury: After six months, the federal government’s review of the crypto world hasn’t yet offered a road map for oversight, though it hinted at a federal regulatory structure and emphasized that a central bank digital currency may have serious support. Crypto Exchange Coinbase Could Earn $1.2B in Revenue Next Year From Higher Interest Rates, JPMorgan Says: Over half of that would come from the company's share of interest income from USDC reserves. Blockchain Tool Developer Infura Plans to Launch Decentralized Protocol: The company will begin an open-source initiative to decentralize its offering, which easily connects dapps to the Ethereum blockchain. Crypto Lending Company Celsius Files for Permission to Sell Its Stablecoin Holdings: The bankrupt company currently owns 11 forms of stablecoins totaling approximately $23 million, according to disclosures. CoinDesk Market Index Biggest Gainers AssetTickerReturnsDACS SectorTerra Luna Classic LUNA +17.14% Smart Contract Platform Terra LUNA2 +13.44% Smart Contract Platform COTI COTI +9.1% Currency Biggest Losers AssetTickerReturnsDACS SectorCelsius CEL -18.71% Currency Polymath POLY -9.88% DeFi Ravencoin RVN -9.76% Currency 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. || Hawkish Fed Chatter Has Wall Street Betting on Big Rate Hike, Crypto Traders Shorting Bitcoin: Several Federal Reserve officials on Wednesday signaled that the U.S. central bank will continue to raise interest rates until there are clear signs that inflation is coming down for multiple months.
Bitcoin (BTC) has struggled to stay above the crucial psychological threshold of $20,000 this week. The largest cryptocurrency has faced pressure – along with other risky assets including stocks – from hawkish chatter by monetary officials. On Tuesday, bitcoin dropped to as low as $18,559, which was its lowest price since June 30.
“We are in this for as long as it takes to get inflation down,” Fed Vice Chairwoman Lael Brainard said Wednesday in aspeechat a banking conference in New York.
The next rate hike decisions is set to take place on Sept. 21, when the Federal Open Market Committee will meet for the first time since last month’s annual Jackson Hole Economic Symposium retreat in Wyoming.
Fed Chairman Jerome Powell said in July that upcoming decisions would be data-dependent, which means that all eyes will be on the consumer price index set to be released next week for the latest reading on inflation. Last week, the Labor Department’s jobs report for August showed that the labor market has started to cool slightly.
“Before I conclude that inflation has peaked, I will need to see several months of declines in the month-over-month readings,” Cleveland Federal Reserve President Loretta Mester said in aspeechWednesday.
Mester said that she will be “guarding against declaring victory over the inflation beast too soon,” and that the Fed needs to raise rates above 4% and keep them there for a while.
The market’s perception of the likelihood of a 75 basis point, or 0.75 percentage point, rate hike has increased over the past week. TheWall Street Journalreported Wednesday that the Fed “appears to be on a path” for another 0.75 percentage point rate increase.
That’s roughly three times the usual 0.25 percentage point increase made by the Fed in recent rate-hiking cycles – a sign of just how urgent a matter that inflation has become in the eyes of top officials.
Earlier Wednesday, the Bank of Canadaraised its main interest rateby 75 basis points to 3.25%, the highest in 14 years. On Thursday, the European Central Bank is expected to make asimilar move.
TheCME FedWatch Tool, which shows how traders of financial futures contracts are betting on the Fed’s next move, now suggests a 78% chance that the central bank will hike by 75 basis points. Such a move would bring the federal-funds rate to a range of 3% to 3.25%.
Partly for this reason, many traders are betting on a continued price decline for bitcoin, reflected in the increasingrecord level of speculationseen in the crypto futures market.
“With rising rates, you’ve got this carry trade which all of the miners use as well and it’s unraveling in front of our eyes,” TheoTrade co-founder Don Kaufman said on CoinDesk TV. “It is difficult to support some of the trade opportunities that existed a few months ago.
“In a rising interest rate environment, it may not be worth it when the two-year Treasury yield is sitting at 3.5%,” Kaufman said. “Do you really want to carry overnight … and it unwinds a number of very key trades inside of the crypto marketplace?” || Crypto derivatives volumes surge to $3.12 trillion in July - CryptoCompare: By Elizabeth Howcroft
LONDON (Reuters) - Cryptocurrency derivatives trading on centralised exchanges rose to $3.12 trillion in July, a 13% monthly increase, researcher CryptoCompare said on Thursday, as crypto prices show signs of recovery from the recent market crash.
The derivatives market now makes up 69% of total crypto volumes, up from 66% in June, and helped push overall crypto volumes on exchanges to $4.51 trillion in July, CryptoCompare said.
Derivatives exchanges traded as much as $245 billion on July 29, 9.7% more than June's top daily high of $223 billion.
But spot cryptocurrency trading edged lower to $1.39 trillion in July, a 1.3% monthly decline and the lowest since December 2020, CryptoCompare said.
The crypto market plunged in May and June as worries about high inflation and Federal Reserve interest rate hikes prompted investors to ditch risky assets. Following the collapse of a major pair of tokens, some cryptocurrency lenders froze customer withdrawals, and several crypto firms have cut jobs.
Prices have partly recovered, with bitcoin gaining 17% in July. At around $24,300, it is still a far cry from its all-time high of $69,000 in November.
"The rise in derivatives trading volume indicates an increase in speculative activity as traders believe there is room for further upside in this rally," CryptoCompare said, noting that there is no U.S. Federal Reserve meeting in August.
Traders are also speculating on the upcoming Ethereum merge, CryptoCompare said, referring to an upgrade of the Ethereum network which is expected in September.
Ether has risen to around $1,900 from its June low of $880.
BinanceUSD - a stablecoin issued by crypto exchange Binance - became more prominent in July, CryptoCompare said, with spot volumes for bitcoin-to-BinanceUSD trades overtaking bitcoin-to-dollar for the first time.
Binance held on to the top spot among exchanges, with 54% of the market share, while Atom Asset Exchange (AAX) became the second largest, with volume rising 26.5% in July.
On Tuesday U.S. exchange Coinbase reported a larger-than-expected quarterly loss, with trading volumes having more than halved in the second quarter of 2022.
GRAPHIC: Bitcoin so far in 2022 (https://fingfx.thomsonreuters.com/gfx/mkt/gkplgolrovb/Bitcoin.png)
(Reporting by Elizabeth Howcroft; Editing by Richard Chang) || Market Wrap: Bitcoin Takes Investors on a Wild Ride: Bitcoin and ether started the day higher before falling during Tuesday afternoon trading. As traditionally bearish September comes to a close, cryptocurrency markets are hoping the record of bullish Octobers continues. Since 2014, October has been second only to February as the best month for average daily returns. Conversely, the worst month for average daily returns over the same time frame has been September.
Bitcoin’s (BTC)price rose 2% early on strong volume before reversing course. Prices began their push higher in overnight activity, between 23:00 UTC (7:00 p.m. ET) and 05:00 UTC (1:00 a.m. ET), before falling. The price of the largest cryptocurrency by market capitalization at one point breached the psychologically important $20,000 mark, but it is now resting under $19,100, about where it started the week.
Ether (ETH)declined 1%, also on higher than average volume. Ether maintains a strong correlation to BTC and displayed similar trading behavior, rising sharply between 23:00 UTC and 05:00 UTC, before declining.
TheCoinDesk Market Index (CMI), a broad-based market index that measures performance across a basket of cryptocurrencies, rose 3.6% on the day.
Economic Calendar: Month-over-month durable goods orders decreased 0.2% in August versus expectations for a 0.9% decline. The narrower than expected decrease underlined the resiliency of the economy, despite recent rate hikes. The delayed impact of rate hikes may have accounted for the encouraging number.
New home sales in the U.S. jumped by 29% in August, reaching a five- month high of 685,000, and exceeding the consensus estimate of 500,000. Home prices, however, rose by 13.9%, down from 16% the prior month, and the lowest increase since February 2021.
For a Federal Reserve wrestling with the dilemma of taming inflation without stalling the economy too severely, the positive data could encourage the U.S. central bank to continue the current, hawkish pace of interest rate hikes.
Markets currently are pricing in an additional 75 basis point rate hike in November when the Federal Open Market Committee next meets.
Bonds:U.S. bond markets have also been showing signs of stress. Specifically, Bloomberg’s United States Government Liquidity Index has reached its worst level since 2010. “The U.S. bond market is in a very dark, bad place right now,” stated Jim Bianco of Bianco Research.
Illiquid fixed income markets could have a negative impact on other markets, equities and crypto currencies included.
U.S. Equities:Traditional equities were mixed following Monday’s decline. The Dow Jones Industrial Average (DJIA) and tech-heavy Nasdaq composite fell 0.4% and 0.2% respectively, while the S&P 500 rose 0.3%
Commodities:In energy markets, WTI crude rose 2.3% while European Brent crude increased by 2.7%. Natural gas fell 3%. Safe-haven asset gold rose 0.3%, while copper prices declined 0.3%.
●Bitcoin (BTC): $19,043−0.6%
●Ether (ETH): $1,321−0.5%
●CoinDesk Market Index (CMI): $947−0.9%
●S&P 500 daily close: 3,647.29−0.2%
●Gold: $1,636 per troy ounce+0.8%
●Ten-year Treasury yield daily close: 3.96%+0.09
Bitcoin, ether and gold prices are taken at approximately 4pm New York time. Bitcoin is the CoinDesk Bitcoin Price Index (XBX); Ether is the CoinDesk Ether Price Index (ETX); Gold is the COMEX spot price. Information about CoinDesk Indices can be found atcoindesk.com/indices.
Bitcoin continues to tango between bullish and bearish activity
Bitcoin and ether spent much of early Tuesday (UTC) in the green before falling. Investors apparently decided two unexpectedly strong economic indicators released just before the U.S. trading day started weren’t enough to outweigh deeper concerns about inflation and the global economy.
Bitcoin was recently trading just below $18,900, off about 1.7% over the past 24 hours. Ether was changing hands just above $1,300, off about 1.5% for the same period.
Both cryptos surged in Tuesday’s wee hours (UTC) and held through much of the day as investors embraced surprisingly good August durable goods orders and housing starts data that raised hopes the Fed could pause its current diet of steep interest rate hikes. Bitcoin’s tendency to spike about this time of the year may have also figured in Tuesday’s price increase. The rise was also surprising given cryptos’ propensity to decline with good economic news suggesting inflation is not under control.
Still, the probability the Federal Reserve will increase rates by 75 basis points declined to 66% from 73%, according to the CME FedWatch tool. The Fed has made stemming inflation its priority.
Meanwhile, at an event hosted by the French central bank Tuesday, Federal Reserve Chair Jerome Powellsaidregulation of decentralized finance (DeFi) needs to be done “carefully and thoughtfully,” given its limited impact on the real economy. “The DeFi winter … didn’t have significant effects on the banking system and broader financial stability” due to the lack of links between them, Powell told a panel.
Despite the significant role the Ethereum blockchain plays in DeFi, ether traders showed little immediate reaction to Powell’s comments.
Will bitcoin continue its history of strong Octobers?
Since 2014, October has historically been the second-best performing month for bitcoin (average daily returns), while September has historically been the worst.
Traders looking to take advantage of this trend may have been shorting BTC throughout September, while going long BTC near the end of September and into October.
Technically, BTC returned all its prior evening and early morning gains during the afternoon. Trading volume during the 16:00 UTC (12:00 p.m. ET) exceeded its 20-day moving average, indicating conviction behind the downward move.
As BTC rose intooverbought territoryon its hourly chart, prices suddenly reversed course and now appear to be oversold.
BTC’s daily chart shows that it was unable to maintain Tuesday’s daily high of $20,381, which sits slightly above its average price over the most recent 20 trading days.
• Decentralized Exchange Bancor Proposes Burning 1M BNT Tokens to Support Prices:Bancor will call more “burn events” if the proposed effort has an intended bullish effect on BNT's price.Read more here.
• Bankrupt Crypto Lender Celsius Network's CEO, Alex Mashinsky, Resigns:Celsius' CEL token is trading 8% lower following the announcement.Read more here.
• Listen 🎧:Today’s "CoinDesk Markets Daily" podcast discusses the latest market movements and a look at the importance of on-chain privacy.
• US Fed Chair Powell Urges Caution on Regulating DeFi:Some policymakers are keen to press new rules on the decentralized finance sector following the collapse of Do Kwon's terraUSD stablecoin.
• Bitcoin Mining's Sustainable Electricity Mix May Be Declining, Says Cambridge University Research Organization:The CCAF uses publicly available data to run a theoretical model to estimate the environmental footprint of bitcoin mining.
• Bitmain Founder Jihan Wu Setting Up $250M Fund to Buy Distressed Bitcoin Mining Assets, Bloomberg Reports:Wu's Bitdeer Technologies will initially invest $50 million and aims to raise another $200 million from outside investors.
• Robinhood Releases Beta Version of Web3 Wallet to 10,000 Users:Robinhood has been steadily moving away from its original “walled garden” approach to crypto over the past year.
[{"Asset": "Quant", "Ticker": "QNT", "Returns": "+9.92%", "DACS Sector": "Currency"}, {"Asset": "Arweave", "Ticker": "AR", "Returns": "+7.41%", "DACS Sector": "Computing"}, {"Asset": "Keep3rV1", "Ticker": "KP3R", "Returns": "+6.96%", "DACS Sector": "Currency"}]
[{"Asset": "Terra Luna Classic", "Ticker": "LUNA", "Returns": "-11.51%", "DACS Sector": "Smart Contract Platform"}, {"Asset": "Terra", "Ticker": "LUNA2", "Returns": "-9.63%", "DACS Sector": "Smart Contract Platform"}, {"Asset": "Algorand", "Ticker": "ALGO", "Returns": "-6.95%", "DACS Sector": "Smart Contract Platform"}]
Sector classifications are provided via theDigital Asset Classification Standard (DACS), developed by CoinDesk Indices to provide a reliable, comprehensive and standardized classification system for digital assets. TheCoinDesk 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. || Wall Street keeps selling as world assets fail to recover: By Lawrence Delevingne (Reuters) -U.S. stocks gave up early gains to fall deeper into a bear market on Tuesday, while sterling showed scant movement a day after hitting a record low, as investors remained nervous about a potential global recession. The pound was little changed at $1.071 after sterling collapsed to $1.0327 on Monday on concern over the funding of recently announced UK tax cuts, which follow huge energy subsidies. The Bank of England said late on Monday it would not hesitate to change interest rates and was monitoring markets "very closely." BoE Chief Economist Huw Pill added on Tuesday that central bank was likely to deliver a "significant policy response" to last week's announcement but it should wait until its next meeting in November before making its move. The yield on five-year gilts rose about 0.1% to about 4.6%, holding its spike on Monday from just over 4%. U.S. stocks mostly faltered after a morning bounce, with the S&P 500 hitting a two-year intraday low. The Dow Jones Industrial Average fell 0.42%, the S&P 500 lost 0.20%, and the Nasdaq Composite added just 0.25% The S&P benchmark index fell more than 20% from its early January high to a low on June 16, confirming a bear market. The index then rallied into mid-August before petering out. "We don't see a quick retrenchment or a return to 2% inflation, keeping the Fed in hiking mode. This implies more volatility and a need for caution and balance in equity allocations," Tony DeSpirito, BlackRock's chief investment officer for U.S. Fundamental Equities, wrote in a note released on Tuesday. Markets see a 65% probability of a further 75 basis points move at the next U.S. Federal Reserve meeting in November. The Fed needs to raise interest rates by at least another percentage point this year, Chicago Fed President Charles Evans said on Tuesday, a more aggressive stance than he has previously embraced that underscores the central bank's resolve to quash excessive inflation. "Central bankers have been walking a tightrope trying to curb inflation while attempting to limit recessionary risks," Bank of America strategists wrote in a note released Tuesday. "However, their recent tone and 'jumbo' rate hikes have reinforced that the foremost priority is controlling inflation, even at the potential cost of a recession." GLOBAL CONTAGION Spillover from Britain kept other assets on edge. The MSCI world equity index reversed early gains on Tuesday, falling about 0.3% to a near two-year low early Tuesday afternoon. European stocks slipped 0.13%. Story continues MSCI's broadest index of Asia shares outside Japan hit a fresh two-year low and was flat on the day. Japan's Nikkei gained about 0.5%. Bond selling in Japan pushed yields up to the Bank of Japan's ceiling and prompted more unscheduled buying from the central bank, while euro zone government bond yields rose to new multi-year highs on Tuesday. Benchmark U.S. 10-year Treasury yields also rose to their highest in more than 12 years as investors braced for higher interest rates. The dollar held gains on Tuesday in its relentless rally while sterling, the euro and Japanese yen regained little ground from multi-year lows after unusually volatile trading in recent sessions. There was some good news. New orders for U.S.-manufactured capital goods increased more than expected in August, suggesting that businesses remained keen to invest in equipment, and a survey showed consumer confidence rising for a second straight month in September. Oil rallied after plunging to nine-month lows in the previous session, helped by supply curbs in the U.S. Gulf of Mexico ahead of Hurricane Ian and by a slightly softer dollar. Brent crude settled 2.6% higher at $86.27 a barrel, and U.S. crude ended at $78.50, up 2.3%. Dutch and British gas prices spiked on news that the Nord Stream gas pipeline from Russia to Europe had suffered damage, raising concerns over the security of the bloc's energy infrastructure and triggering a sabotage probe. Gold, which hit a 2-1/2-year low on Monday, rose around 0.3% to $1,626 an ounce. Bitcoin briefly broke above $20,000 for the first time in about a week, as cryptocurrencies bounced. (Reporting by Lawrence Delevingne in Boston and Carolyn Cohn in London; Additional reporting by Xie Yu in Hong Kong; editing by Jonathan Oatis, Richard Chang and Marguerita Choy) View comments || Wounded Crypto Traders Desperate for Clues From Fed’s Big Meeting This Week: Crypto investors have been wounded so badly from recent market declines that they can be forgiven for desperately hoping U.S. Federal Reserve officials attending their annual gathering in Jackson Hole, Wyoming, dangle something – anything – positive about the months ahead.
Bitcoin (BTC) has gotten slammed this year, down 53% in value since New Year’s Eve, according toCoinDesk data. Ether (ETH) has done a hair worse,plunging 54%, though its price recently doubled in the last month amid excitement about theupcomingoverhaul of its underlying blockchain consensus protocol known asthe Merge.
The carnage in crypto is largely about interest rates, or, more specifically, the Fed’s campaign to tamp down inflation by dramatically hiking them. The importance of inflation to crypto was underscored Friday when bitcoin sank 11% after minutes from the rate-setting Federal Open Market Committee’s (FOMC) July meeting showed central bankers weren’t quite as optimistic about inflation as first perceived by markets – a sign interest rates might have to rise even more.
Read more:US Federal Reserve Minutes Show More Rate Hikes Coming, Concern About Stablecoin Risks
More hawkish comments from Jackson Hole, where the conference runs from Aug. 25-27, could continue the plunge in crypto assets. The broad fear among investors, both crypto and conventional, is that the Fed’s tightening campaign risks driving the economy into a recession. U.S. Treasury bonds – one of the world’s key markets – appear to bolster that concern. Short-term bond yieldscurrently exceedlonger-term ones, a yield curve inversion that tends to happen before the economy contracts.
Yet, central bankers and most economists insist that the U.S. economy is not in a recession, and that a soft landing – bringing inflation down without causing a recession – is very much a possibility.
This disconnect has rattled both the crypto and stock markets in recent weeks. Both rallied briefly after Fed Chair Jerome Powell’s last speech in July, which most analysts perceived as dovish. However, prices retreated following the slightly more hawkish FOMC minutes.
So the stakes in Jackson Hole are high for Powell and his colleagues to provide clarity for the markets.
“I’m looking forward to seeing if Powell can straighten the market out,” said David Wessel, a senior fellow in economic studies at the Brookings Institution and former Wall Street Journal economics editor. “At a time when the Fed’s public forecast is at odds with the market, he knows that this is his chance to steer the markets.”
Prices in interest-rate futures markets show traders seeing a possibility the Fed will have to undo some of its tightening next year by cutting rates, though central bankers have said multiple times that expectations of rate cuts are “definitely premature.”
This not only shows that there is a strong mismatch between market expectations and Fed statements, but that traders may have a credibility issue with the central bank.
Read more:It Doesn't Matter If They're Wrong, Central Bankers Set Guidance for Crypto, Too
“If the Fed continues to shrink the balance sheet, then basically they’re serious about inflation,” said Dick Bove, chief financial strategist at Odeon Capital Group. “If they don't do that, it doesn't matter what they say – they're not serious.”
The Fed promised to reduce itsalmost $9 trillionbalance sheet in June, but only started the process a little over a week ago by selling Treasury bonds. But both Treasurys and mortgage-backed securities are supposed to be sold by the central bank. Bove sees an issue with the latter.
“I believe [the Fed] will shrink Treasurys but I am very wary about what they might do with the mortgage-backed securities because they could set off a collapse which would be as big as 2008,” he said, referring to the last big recession.
New home sales dropped sharply in July and exceeded expectations widely, a report showed Friday, reflecting the effect of the Fed’s interest rate hikes on the housing market. Some economists predict that the worst is ahead, given that inventory is likely to continue rising, which will lead to further declines in home prices in the near term.
That outlook, however, could be positive for crypto, pressuring the Fed to be more dovish, which would result in a weaker U.S. dollar and therefore a stronger crypto market, Joshua Lim, head of derivatives at Genesis Trading said. (Genesis is owned by Digital Currency Group, which also owns CoinDesk.)
Brooking’s Wessel says that the market isn’t “stupid,” and knows that the Fed is going to reduce mortgage-backed securities, but that the question is whether they will try to do more.
“The focus will more be on short-term rates,” he said.
Powell knows that traders will expect the Fed chair to give clear guidance on where the Fed stands on inflation and recession fears, but markets won’t likely glean what FOMC members plan to do in September.
“I think everybody will be looking for hints, so whatever adverb he uses will lead some people to think 50 or 75 basis points. But I think he will try to avoid giving hints,” Wessels said. “I think they're trying to wean the markets off this forward guidance, this thing that everything has to be clear before” FOMC meetings.
Bove agrees and said that the Fed will double down on its belief that inflation is the biggest threat and can only be tamed by increasing rates.
“I think that they keep their mouths shut a little bit more and they just do what needs to be done,” he said. || 3 Penny Stocks for Investors to Take Seriously in 2022: Now is perhaps not the time investors want to be taking speculative risks. The Federal Reserve is intent on raising rates, a move that’s impacted equity valuations across the board. For many penny stocks, this has meant an even more outsized decline revaluation to blue chips than we’ve seen in some time. That said, at some level, even the worst-looking companies become intriguing to investors looking for value. There are still speculators out there. Accordingly, near-term rallies in various beaten-up stocks are becoming common. Indeed, high short interest, in penny stocks or large-caps alike, used to be a clear sign to steer clear. Today, these more speculative names have become trading vehicles for seasoned investors to buy. InvestorPlace - Stock Market News, Stock Advice & Trading Tips That said, some penny stocks are starting to look attractive in this environment. Here are three beaten-down names I think may be worth a look. At least, for those with some aggressive growth capital on the sidelines. Ticker Company Price CNNWF Cineworld $0.03 PBI Pitney Bowes $2.97 PXLW Pixelworks $1.95 Cineworld (CNNWF) The Regal Cinemas in Times Square in New York. CNWGY stock Source: rblfmr / Shutterstock.com Perhaps the most speculative name on this list is Cineworld (OTCMKTS: CNNWF ). A U.K.-based theater chain that recently confirmed it may file for bankruptcy, there’s not a lot to like about this company at first glance. Indeed, since the Covid-19 pandemic, attendance numbers have been down. And despite a slate of relatively strong movies this year, the owner of Regal theaters in the U.S. has seen its fundamentals deteriorate. Much of this has to do with the company’s debt load, due in part to Covid-related closures. A reopening play, Cineworld is a stock that’s been volatile of late. While most of that volatility has been to the downside recently, there is hope for a resurgence at some point. Given the success of rival AMC Entertainment (NYSE: AMC ) in generating buzz as a meme stock, perhaps the same can happen for Cineworld. After all, short interest has surged of late. Story continues Like the other names on this list, Cineworld is certainly a speculative bet. However, it’s one I think speculators would do well to keep an eye on right now. Pitney Bowes (PBI) The office logo for Pitney Bowes on a glass building. Source: JHVEPhoto / Shutterstock.com Next on the list is global shipping and mailing firm Pitney Bowes (NYSE: PBI ). As of the time of writing, this stock is down more than 55% year-to-date. Indeed, trading at sub-$3 per share with a market capitalization of around $500 million, this former multi-billion dollar stock has seen some serious selling pressure of late. Shares of Pitney Bowers have actually been on a steep decline for a very long time. Its share price has fallen by over 95% since its peak approximately 25 years ago. Accordingly, this is a stock many view as a long-term “value trap,” given its historical performance. That said, at these levels, Pitney Bowes is starting to look attractive. This company trades at less than 15-times earnings , a reasonable multiple relative to its peers. Additionally, given the company’s revenue increase of 6.5%, there is some growth to look forward to for this company. Despite a net loss this past year, there’s hope Pitney Bowes could turn things around. Again, for those looking for a more speculative penny stock to focus on, this is one I’ve got on my radar right now. Pixelworks (PXLW) Close-up Presentation of a New Generation Microchip. Gloved Hand Holding Piece of Technological Wonder. Semiconductor stocks are in the news. Source: Shutterstock Finally, we have Pixelworks (NASDAQ: PXLW ). A U.S.-based semiconductor company, Pixelworks is one of the players in this industry that many may not have heard of. That’s because this company focuses on providing high-end, power-efficient visual processing solutions. Pixelworks develops software solutions and semiconductors that allow authentic and consistent high-quality viewing experience. Currently, Pixelworks is aiming to improve performance and functionality, while also saving power. This stock’s recent earnings appear interesting as well. Its latest earnings report shows a whopping 36% revenue jump to $19.08 million. This beat the analyst consensus by around $0.4 million. The company showed double-digit growth in both the projector and mobile markets. Thus, for those looking for a more speculative growth stock, this is one I have my eye on. The company trades at a market capitalization of around $100 million. For a company with this much potential, that’s starting to look attractive right now. On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com ’s writers disclose this fact and warn readers of the risks. Read More: Penny Stocks — How to Profit Without Getting Scammed On the date of publication, Chris MacDonald 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 . Chris MacDonald’s love for investing led him to pursue an MBA in Finance and take on a number of management roles in corporate finance and venture capital over the past 15 years. His experience as a financial analyst in the past, coupled with his fervor for finding undervalued growth opportunities, contribute to his conservative, long-term investing perspective. More From InvestorPlace Buy This $5 Stock BEFORE This Apple Project Goes Live The Best $1 Investment You Can Make Today Early Bitcoin Millionaire Reveals His Next Big Crypto Trade “On Air” It doesn’t matter if you have $500 or $5 million. Do this now. The post 3 Penny Stocks for Investors to Take Seriously in 2022 appeared first on InvestorPlace . || The 3 Best Dividend Stocks to Buy for Retirement: Many older Americans are more scared about outliving their wealth than death itself. Accordingly, the search for dividend stocks to buy for retirement is one that many take seriously. Dividend-paying stocks are often the go-to option for those nearing or in retirement. That’s partly because the passive income stream these equities generate can help bolster the social security income retirees receive. These stocks are also viewed positively for their fundamentals. That’s because companies paying a dividend (in theory) must be profitable to do so. With a strong business model and solid margins come dividend increases over time. Thus, dividend stocks are often viewed as preferable to bonds, as the distributions provided can grow over time. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Of course, sifting through the many stocks that pay dividends to pick just a few to hold for the long-term isn’t easy. That said, here are dividend stocks to buy that I’m considering right now. JNJ Johnson & Johnson $164.94 MCD McDonald’s $236.70 ORI Old Republic International $20.60 Johnson & Johnson (JNJ) A red Johnson & Johnson (JNJ) sign hangs inside in Moscow, Russia. Source: Alexander Tolstykh / Shutterstock.com Johnson & Johnson (NYSE: JNJ ) is a multinational pharmaceutical and consumer goods company which leads in many prominent categories. This very strong market position, which is driven by a portfolio of some of the world’s best brands, has provided the company with very solid fundamentals. Accordingly, it’s unsurprising to many long-term investors to see the company announce a $5 billion buyback program and continued dividend increases over time. As far as dividend stocks to buy are concerned, JNJ stock may not necessarily be top of mind for most investors. After all, this stock yields only 2.7% at the time of writing. And with the 2-Year T-Bill now providing around 4.3% , that’s not going to cut it for many investors. That said, it’s Johnson & Johnson’s free cash flow of $4.7 billion that’s worth considering. This cash flow number increased substantially quarter-over-quarter, and could continue higher, even in recessionary times. No matter what market we’re in, folks need to buy pharmaceuticals, toothpaste and toilet paper. That’s the allure of this blue-chip stock in this market. Story continues Notably, Johnson & Johnson has one of the strongest track records of dividend growth in the US market. This company has increased its payouts consistently for 60 years . Retirees would do well to consider adding this global pharmaceutical giant to their portfolios on any dips moving forward. McDonald’s (MCD) A McDonald's (MCD) burger box and fries rest on a flat surface. Source: 8th.creator / Shutterstock.com The global fast food picture really wouldn’t be the same without McDonald’s (NYSE: MCD ). Indeed, this long-term buy and hold for many investors provides some compelling growth metrics to consider. Over time, McDonald’s has proven what a world-class brand can do in terms of international expansion and same-store sales growth. That said, this quick restaurant provider also offers investors some attractive dividend growth . Thus, as far as dividend stocks to buy are concerned, McDonald’s is right up there on my list right now. The Chicago-based giant has a strong track record of consistently growing payouts. Ever since McDonald’s started dividend payments in 1976, it has increased its payout yearly. Given this company’s rock-solid balance sheet and continued earnings per share growth over time, investors can expect nothing less than all-but-guaranteed dividend growth over time. Aside from the pandemic, when locations were forced to close, in most other recessionary times MCD stock has outperformed the market by a wide margin. Thus, this is a company providing a seriously defensive posture investors may want to gravitate toward right now. Currently, the MCD stock yields 2.3% , which doesn’t seem that great, relative to bonds. That said, those thinking long-term will note that this yield should rise over time, along with its stock price. That’s the allure of this mega-cap stock. Old Republic International (ORI) A close-up shot of a hand choosing wooden blocks with emoticons related to health insurance. russell 2000 stocks Source: Shutterstock Old Republic International (NYSE: ORI ) is not necessarily among the most well-known names out there. That said, this $6.5 billion market cap company is among the most reliable names in the insurance industry. Since 1942 , this company has paid a dividend without interruption. Even more impressive, Old Republic has raised its distribution for 41 consecutive years. Thus, those seeking not only passive income, but dividend growth, will appreciate this historical performance. Generally speaking, when companies like Old Republic stick to their long-term dividend growth strategies, these stay in place for a very long time. That’s because investors start to view ORI stock as a bond-like proxy, and seek this stock for dividend growth specifically. Accordingly, investors can stand assured that this is a company that will do whatever it can to maintain, and raise, its distribution over time. Old Republic’s fundamentals appear strong, with the company reporting an underwriting profit in its insurance business consistently. Over the long-term, this is an overlooked dividend stock to buy I think is very compelling at 6-times earnings right now. On the date of publication, Chris MacDonald 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 . Chris MacDonald’s love for investing led him to pursue an MBA in Finance and take on a number of management roles in corporate finance and venture capital over the past 15 years. His experience as a financial analyst in the past, coupled with his fervor for finding undervalued growth opportunities, contribute to his conservative, long-term investing perspective. 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 The 3 Best Dividend Stocks to Buy for Retirement appeared first on InvestorPlace . || US Inflation Data Could Test Bitcoin’s Rally: The U.S. consumer price index report is expected to show slower inflation in August, which is one of the reasons why the price of bitcoin (BTC) has been rising since Friday.
But the new data could show that while price pressures are cooling, they are still too hot for Federal Reserve officials to ease off on tightening monetary policy.
“August inflation gauges will likely be very soft, but that won’t change the bottom line," economists at Bloombergwrote. "The ‘totality’ of the data that Fed Chair Jerome Powell will follow shows few signs of cooling in the economy, and perhaps even some acceleration.”
The latest CPI report will be released by the Labor Department on Tuesday at 8:30 a.m. ET (12:30 p.m. coordinated universal time). According to a survey by FactSet, the CPI in August was probably up 8.1% over the past 12 months. That pace would represent the second straight monthly decline, down from 8.5% in July and a four-decade high of 9.1% in June.
The expectation is that prices for gasoline, airfares, hotels and used cars were down last month, while food prices were up. The Federal Reserve's target is 2% annually.
Bitcoin gained 15% over the weekend in a rally that started after the European Central Bank raised interest rates by 75 basis points, or a 0.75 percentage point, the largest increase in ECB history.
In addition, Chicago Federal Reserve President Charles EvanssaidThursday that the U.S. Federal Reserve will likely move ahead with an aggressive rate hike on Sept. 22 even if the latest CPI number shows cooling price pressure Still, he said the Fed might not have to push rates above 3.5% “that soon,” implying that the Fed could take a more dovish stance in the future. Thefederal funds rateis now between 2.25% and 2.5%.
Bitcoin (BTC), the largest crypto asset by market capitalization, was trading at $22,153 at press time, its highest price since mid-August.
“It may take some time for inflation to return back to the Fed’s target, but even a moderation from the current torrid pace should be very good for overall consumer sentiment,” said Brendan Murphy, head of global fixed Income, North America, at Insight Investment.
“The Fed has spent most of 2022 coming to grips with the implications of higher prices and committing to tighten monetary policy as much as needed to ensure those price increases return to target. This means higher rates and tighter financial conditions until inflation is under control,” Murphy said.
A report by the International Monetary Fund showed that the U.S. unemployment rate, now at 3.7%, may need to go as high as 7.5% in order for inflation to slow to the central bank’s target of 2%,Reutersreported.
Even though the Fed is convinced that a “soft landing” is still possible, the research concluded that "a painful and prolonged increase in unemployment" is inevitable to tame inflation.
From a technical standpoint, the recent rally in bitcoin might not last very long.
“BTC technicals continue to look bearish in the short term,” David Duong, head of institutional investment at crypto exchange Coinbase wrote in a report. “A further rally may be capped from here.” || New iPhone’s Initial China Sales Lag Predecessor, Jefferies Says: (Bloomberg) -- Chinese consumers bought fewer iPhone 14 handsets in the early days of its availability than the product’s predecessor a year ago, Jefferies said in a note on Monday.
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Sales of Apple Inc.’s latest smartphone series in the first three days of delivery came to 987,000 units, 11% lower than comparable sales of the iPhone 13 family last year, analysts including Edison Lee wrote in the note. It’s a rare double-digit decline for the iPhone, whose sales had been the most resilient in a Chinese smartphone market that’s seen its domestic leaders slump all year.
“These initial data suggested iPhone 14’s sales may not be as strong as the pre-order levels indicated, since pre-order does not come with any payment obligations,” it said.
Smartphone shipments in China fell by almost a third to 19.1 million in July, national data showed earlier this month, adding to a year of dwindling sales in the world’s largest mobile market. The Chinese consumer economy has had a stuttering year affected by stringent Covid containment policies and weak economic performance.
Apple’s effort to diversify its supply chain got a boost Monday with the announcement that it’s begun assembling iPhone 14 devices in India. It’s the fastest turnaround yet from release to India manufacturing by the Cupertino, California-based company.
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©2022 Bloomberg L.P.
[Random Sample of Social Media Buzz (last 60 days)]
None available.
|
Trend: no change || Prices: 19141.48, 19051.42, 19157.45, 19382.90, 19185.66, 19067.63, 19268.09, 19550.76, 19334.42, 19139.54
|
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 2021-09-22]
BTC Price: 43574.51, BTC RSI: 43.32
Gold Price: 1776.70, Gold RSI: 46.52
Oil Price: 72.23, Oil RSI: 58.69
[Random Sample of News (last 60 days)]
Bitcoin Plunges 10% as Investors Wane Amid Intense Regulatory Pressure and Global Market Concerns: Bitcoin took a nearly 10% tumble Monday morning, falling to $43,780, with Ethereum down 9.4% at $3,034.Dogecoin also fell, sinking 11% to 21 cents.
See:What Is the Next Big Cryptocurrency To Explode in 2021?Find:10 Cheap Cryptocurrencies To Check Out
Cryptocurrencies across the board shaved off gains Monday morning amid a global equities slide. Global markets took a downward turn as concerns intensified over China’s failing property giant, Evergrande.
Famous as the world’s most indebted property developer, Evergrande is under a crushing $300 billion in debt. The company has been scrambling to pay its suppliers, and has even warned investors now twice that a default is likely in the near future. Last week, Evergrande stated its property sales will likely continue to decrease in September following consecutive months of decline and tightening its balance sheet further.
More:Should You Prepare For a Housing Market Crash in 2021?
To put it into perspective, Evergrande is so large that a potential default could damage international markets. As China’s version of “too big to fail,” the developer has laid financial roots in both on-shore and off-shore investors and accounts. Default could send China’s property markets into turmoil, and skittish investors responded to the threat.
Bitcoin traded just above $50,000 earlier this month. The news of China’s Evergrande also comes amid markets waiting on the Federal Reserve to make an announcement of whether or not it will lift stimulus-era interest. Yellen’s recent op-ed piece in the Wall Street Journal detailing thelikelihood of the U.S. defaulting for the first time in history should the debt ceiling not be suspendedalso hasn’t helped wary investors.
Broken Hearts and Empty Wallets:Dating App Scams Involving Crypto on the RiseDiscover:In Addition to Bitcoin, AMC Will Now Accept Ethereum, Litecoin and Bitcoin Cash
For now, it could be that investors are simply favoring keeping their positions in cash to ride out potential risk waves andfinal governmental agency push-throughs. This new behavior of instant liquidity and how quickly markets can now react, however, is an interesting element to the psychology of investing that has taken shape as digital currency is traded in higher volumes — and slowly representing market sentiments.
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Last updated: September 20, 2021
This article originally appeared onGOBankingRates.com:Bitcoin Plunges 10% as Investors Wane Amid Intense Regulatory Pressure and Global Market Concerns || Early Warning Report Issued Pursuant to National Instrument 62-103 in Connection with the Closing of the Qualifying Transaction of Bitcoin Well Inc.: EDMONTON, Alberta, Sept. 03, 2021 (GLOBE NEWSWIRE) -- Richard Gauthier, an insider of Bitcoin Well Inc. (formerly Red River Capital Corp.) (the " Company ") today announced that he has filed an early warning report (the " Early Warning Report ") under National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with the closing of the previously announced Qualifying Transaction (the Qualifying Transaction ) (as defined by Policy 2.4 of the TSX Venture Exchange (the TSXV )). The Qualifying Transaction was completed by way of three cornered amalgamation, pursuant to which, among other things, the Company issued approximately 156,364,320 common shares in the capital of the Company (the Common Shares ) to the shareholders of 1739001 Alberta Ltd. ( Old Bitcoin Well ), at a deemed price of $0.25 per Common Share. Upon completion of the Qualifying Transaction, the Company had a total of 162,879,500 Common shares issued and outstanding on a non-diluted basis, with approximately 96% of the Common Shares held by Old Bitcoin Well shareholders and approximately 4% of the Common Shares held by former Red River Capital Corp. shareholders. 76,037,374 Common Shares are held in escrow pursuant to a TSXV - Tier 2 Surplus Escrow Agreement and 25,567,413 Common Shares are held in escrow pursuant to a TSXV Tier 2 Value Escrow Agreement. As part of the Qualifying Transaction, Mr. Gauthier acquired ownership and direction or control over an aggregate of 25,567,413 Common Shares. As a result of the Qualifying Transaction, Mr. Gauthier has ownership and control over 15.7% of the issued and outstanding Common Shares. Prior to the completion of the Qualifying Transaction, Mr. Gauthier did not, directly or indirectly, own any securities of the Company. Mr. Gauthier does not have any plans to acquire or dispose of additional securities of the Company. However, both Mr. Gauthier may acquire additional securities of the Company, dispose of some or all of the existing or additional securities they he holds or will hold, or may continue to hold his current positions, depending on market conditions, reformulations, and / or other relevant factors. Story continues The Companys head office address is located at 10142 -82 Avenue N.W,, Edmonton, Alberta T6E 1Z4. A copy of the Early Warning Report filed by Mr. Gauthier will be available under the Company's profile on SEDAR at www.sedar.com . Contact Information For investor information, please contact: Bitcoin Well 10142 82 Avenue NW Edmonton, AB T6E 1Z4 bitcoinwell.com Adam OBrien , Founder & CEO Mandy Johnston , CFO Tel: 1 888 711 3866 [email protected] For media queries and further information, please contact: Karen Smola , Director of Marketing Tel: 587-735-1570 [email protected] || Bitcoin Surges Above $43K for First Time Since May: The price ofbitcoinrose above $43,000 for the first time since May.
As of press time, the largest cryptocurrency by market value was changing hands at around $42,901, up 4.9% over the past 24 hours.
The latest rally took bitcoin’s year-to-date return to 48%, far exceeding the Standard & Poor’s 18% gain.
Related:Bitcoin Holds Support; Next Resistance at $50K
Cryptocurrency traders and analyst say arisk-taking moodhas returned to digital-asset markets after a bear market that saw prices fall below $30,000 from an all-time high in April near $65,000.
• Bitcoin Cools on 3-Month High as Long-Term Moving Average Looms Large
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• Market Wrap: Bitcoin Rallies Above $42K as Bull Market Continues || Tesla Gains as Results Show Dependence On Carbon Credits Falling: By Dhirendra Tripathi
Investing.com – Tesla (NASDAQ:TSLA) stock was up more than 2% in Tuesday’s premarket trading as the company’s second-quarter results threw up not only $1.6 billion in adjusted profit but another pleasant surprise - a falling reliance on selling carbon credits to make money.
The company made $354 million from selling environmental credits, 17% less than a year ago.
Tesla, being a manufacturer of electric vehicles and a contributor to the green energy ecosystem, earns regulatory carbon credits and sells these to other companies which rely on fossil fuels for their energy needs.
For many years, Tesla made good money from selling carbon credits. But as other companies also shift to renewable sources, they need to buy fewer of those credits from companies like Tesla.
The share of revenue from carbon credit sales in Tesla’s total revenue more than halved to 3% in the June quarter from 7% a year ago.
Tesla’s automotive revenue almost doubled and income from operations soared more than four-fold, helped by record sales of its electric vehicles. The company delivered 201,250 vehicles during the quarter and upheld its full-year forecast despite the global chip shortage that has disrupted the plans of most automotive groups this year.
The company also took an impairment of $23 million on account of its Bitcoin holdings.
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United Parcel Service Earnings, Revenue Beat in Q2 || Citi considering bitcoin futures trading for some institutional clients: (Reuters) - Citigroup Inc is considering offering bitcoin futures trading for some institutional clients, a spokesperson for the bank said on Tuesday, citing increased demand in the cryptocurrency space. Bitcoin prices rose past $50,000 on Monday, after having weathered a crackdown by Chinese authorities on domestic cryptocurrency mining companies earlier this year, as mainstream adoption by corporations and the wider public gathers pace. Media outlet Coindesk reported https://www.coindesk.com/citigroup-is-gearing-up-to-trade-cme-bitcoin-futures-sources earlier on Tuesday that Citi is awaiting regulatory approval to begin trading bitcoin futures on the Chicago Mercantile Exchange, citing a source within the bank. "Given the many questions around regulatory frameworks, supervisory expectations, and other factors, we are being very thoughtful about our approach," a Citi spokeswoman said in an email. "We are presently considering products such as futures for some of our institutional clients, as these operate under strong regulatory frameworks," she added. The bank was weighing the option of providing cryptocurrency related services in May, according to a Financial Times report nL4N2MU1B8. Business Insider reported https://bit.ly/2WeyK7X in late July that JPMorgan Chase & Co will allow all of its wealth management clients access to cryptocurrency funds. (Reporting by Sohini Podder in Bengaluru and Dhara Ranasinghe in London; Editing by Ramakrishnan M.) || European Equities: Evergrande News and the FED to Test Support Once More…: Economic Calendar Thursday, 23 rd September Spanish GDP (QoQ) (Q2) French Manufacturing PMI (Sep) Prelim French Services PMI (Sep) Prelim German Manufacturing PMI (Sep) Prelim German Services PMI (Sep) Prelim Eurozone Manufacturing PMI (Sep) Prelim Eurozone Markit Composite PMI (Sep) Prelim Eurozone Services PMI (Sep) Prelim Friday, 24 th September German Ifo Business Climate Index (Sep) The Majors It was a bullish day for the European majors on Tuesday. The CAC40 rose by 1.50% to lead the way, with the DAX30 and the EuroStoxx600 ending the day up by 1.43% and by 1.00% respectively. There were no major stats to change the mood from Monday’s session, leaving dip buyers to deliver support on the day. For the majors, the upside came in spite of rating agency Standard & Poor’s stating that an Evergrande default was likely. The Stats It’s a was a particularly quiet day on the Eurozone economic calendar. There were no major stats to provide the majors with direction on the day. From the U.S Economic data was limited to August housing sector numbers that had a muted impact on market risk sentiment. The Market Movers For the DAX: It was a mixed day for the auto sector on Tuesday. BMW and Volkswagen rose by 1.14% and by 0.97%, respectively, with Continental ending the day up by 0.47%. Daimler bucked the trend, however, falling by 0.04%. It was also a mixed day for the banks. Deutsche Bank fell by 1.32%, while Commerzbank rose by 1.19%. From the CAC , it was a mixed day for the banks. Soc Gen and Credit Agricole fell by 0.33% and by 0.09% respectively, while BNP Paribas rose by 0.41%. It was a relatively bullish day for the French auto sector, however. Stellantis NV and Renault ended the day up by 0.19% and by 0.20% respectively. Air France-KLM and Airbus SE rose by 1.49% and by 1.20% respectively. On the VIX Index It was back into the red for the VIX on Tuesday, ending a 2-day winning streak. Partially reversing a 23.55% surge from Monday, the VIX fell by 5.25% to end the day at 24.36. Story continues On Tuesday, the NASDAQ rose by 0.22%, while the Dow and S&P500 ended the day down by 0.15% and by 0.08% respectively. The Day Ahead It’s yet another particularly quiet day ahead on the Eurozone’s economic calendar . There are no major stats to provide the European majors with direction mid-week. From the U.S there are also no major stats to consider later in the session, leaving the markets in limbo ahead of the FOMC policy decision and projections due out after the European close. Updates on Evergrande will also be in focus going into the European open. The Futures In the futures markets, at the time of writing, the Dow Mini was down by 49 points. 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 Forex Technical Analysis – Hawkish Surprise by Fed Could Trigger Break into 1.1664 Main Bottom Bitcoin Update: A Revisit of $29,000 Cannot be Excluded Just Yet E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – Struggling Inside 15069.75 to 14920.25 The Crypto Daily – Movers and Shakers – September 22nd, 2021 Natural Gas Price Forecast – Natural Gas Markets Continue to Pull Back DraftKings Pursues UK Acquisition and Catches NFT Fever || Asia's Blockchain Dev Studio NonceBlox is Breathing Life into Blockchain Ideas: DUBAI, UAE / ACCESSWIRE / September 17, 2021 /Despite the current state of the world's economy following the Covid-19 pandemic, blockchain technology has enabled many people all over the world. Many investors in cryptocurrency over the past year have been made millionaires, new companies have emerged despite many more non-crypto-related companies being liquidated and a growing NFT boom has seen many creatives make astronomical profits.
It is no stretch of the imagination to say that this period is one of the most illustrious in blockchain's short history and the barrier to entry into the industry is being progressively lowered allowing an increasing number of people to gain access either as consumers or as producers.
That barrier has been lowered even more by the blockchain development studio :Nonceblox. It is a trailblazer in a relatively new field. With most people looking to create their dapps and even more people looking just to invest for profit, Nonceblox has found for itself a niche that will undoubtedly allow it to remain relevant in the industry for years to come.
With such a pioneering mindset Nonceblox is dedicated to providing blockchain solutions to companies of all sizes. From modest startups to mid-sized enterprises, the team will work closely with clients to build commercially scalable blockchain products.
Nonceblox is dedicated to taking ideas from conceptualization to execution. With over 30 years of top level crypto management experience, Nonceblox is well equipped to handle all blockchain-related projects. To date, they have served over 200 clients and have guided projects in DeFi, NFTs, Metaverses, IDOs, Enterprise DLTs and many others.
The team is fully committed to the progress of both its clients and employees.
"A cursory Twitter search brought one tweet to attention that fully emphasized this. User @canarygrapher said; "It's already been 2 weeks #interning at @Nonceblox_, and I still remember how HR asked me to turn off slack #notifications after #office hours
I love how this company is spoiling me right from my internship."
The team is primed and ready to cater to any needs on multiple networks.Bitcoin, Ethereum, Polygon, Solana and Tezos, some of the most popular chains, are just few of the many networks the team is available to work on. As it stands, the team comprises over 300 developers. This makes them Asia's largest blockchain-only development studio and they house a variety of talent including; architects, tokensale advisers, and consultants all dedicated to taking blockchain projects to fruition.
To this effect, the company also offers services such as Smart Contract services, Audits, Custom Dapp solutions, Security token offerings, NFT development, Defi apps, Whitepaper creation, IDO marketing, Market making and Use Case Analysis.
With a stellar team and visionary goals, Nonceblox is poised to take the industry by storm. Their commitment to perfection has given them over 200 completed contracts so far and the team is still looking forward to building cutting-edge solutions.
Some other clients and partnerships include The Sandbox, Mintable, Embersword, Superfarm, Tryshowtime, Arkane Network, Vulcanverse, Cashaa, Tdefi, Biconomy, Everest, Certik, BSCPad, RedKite, Defi 11, DAOVentures, NiftyPays, ArcadeNetwork, ForestKnight, etc. This list barely even scratches the surface and a full one can be found on the company'swebsite.
With a variety of partnerships and clientele already under its belt, it seems Nonceblox is gaining increased recognition in the crypto space. Layer-2 Ethereum solution, Polygon is already on board and has inked a partnership with the Nonce Blox team.Polygonhas a well-proven track record and with faster and cheaper transactions, it will be a welcome addition.
Contact:
Annie ClainOutreach [email protected]
SOURCE:Nonce Blox
View source version on accesswire.com:https://www.accesswire.com/664518/Asias-Blockchain-Dev-Studio-NonceBlox-is-Breathing-Life-into-Blockchain-Ideas || Bitcoin Struggles at Resistance; Support Near $48K: Bitcoin (BTC) sellers returned at the $50,000 resistance level on Monday and remained active during Asian trading hours. The cryptocurrency was trading around $49,300 at press time and is up about 11% over the past week. Initial support is seen around $48,000, which could stabilize the pullback.
• Bitcoin is currently testing the 100-period moving average on the hourly chart, although the relative strength index (RSI) is not yet oversold.
• Selling pressure could subside at lower support levels between $45,000 and $48,000.
• The Aug. 6 breakout above $42,000 is encouraging, especially given the return of upside momentum.
• Buyers will need to defend support to yield the next upside target towards $55,000.
• Bearish Bitcoin Bets Might Signal Return of This Popular Trade
• Bitcoin Trading Volume Stays Subdued as Price Recovers
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• Should You Invest in Bitcoin for Retirement? || Bitcoin Miners Convene with Texan Oil and Gas Executives to Talk Energy: BeInCrypto –
At a recent meeting of 200 oil and gas executives and bitcoin miners in Texas, flared, vented and stranded gas assets were discussed as a way forward for bitcoin miners to deal with their ever-increasing electricity and energy requirements.
One Texas native described in areport by CNBCon the topic named Hayden Griffin Haby III, formerly a surface landman, has been exclusively mining bitcoins for the last nine months. Haby co-founded a company that powers bitcoin mining setups with flared, vented, and stranded natural gas assets.
An interesting confluence of events occurred, with the Chinese governmentbanning crypto miningrigs this past spring. This could potentially result in aninflux of Chinese crypto-miners into Houston, to make use of the novel energy resource provided.
This storywas seen first onBeInCryptoJoin our Telegram Groupand get trading signals, a free trading course and more stories likethisonBeInCrypto || What's in the Offing for Nutanix (NTNX) This Earnings Season?: Nutanix NTNX is slated to release fourth-quarter fiscal 2021 results on Sep 1. The Zacks Consensus Estimate for fiscal fourth-quarter revenues stands at $363.5 million, indicating an improvement of 10.9% from the year-ago quarter. The Zacks Consensus Estimate for the bottom line is pegged at a loss of 43 cents per share, significantly wider than the year-ago quarter’s loss of 39 cents per share. For the quarter under review, Nutanix anticipates ACV billings between $170 million and $175 million. Based on this, quarterly revenues are likely to witness a double-digit year-over-year growth. It expects non-GAAP gross margin to be 81.5-82%. Non-GAAP operating expenses are expected in the range of $380 million to $385 million. The company’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 24.7%. Nutanix Inc. Price and EPS Surprise Nutanix Inc. price-eps-surprise | Nutanix Inc. Quote Factors to Note Nutanix’s fourth-quarter results are likely to reflect benefits from increased demand for its hyper-converged solutions and automation services. The ongoing shift to cloud solutions owing to the pandemic-induced remote-working wave is likely to have acted as a key catalyst. Rise in the work-from-home trend, driven by the social-distancing norms related to the coronavirus pandemic, has been spurring demand for virtual desktop infrastructure and Daas solutions. This is likely to have favored the to-be-reported quarter’s performance. Besides, Nutanix’s collaboration with Lenovo is a positive. The company has been benefiting from Lenovo’s TruScale, an as-a-service solution for hosted desktops that provides IT companies with remote working solutions, since April. Expansion in the company’s customer base as a consequence of this strategic partnership is likely to have contributed to the company’s fourth-quarter performance. Nutanix continues to witness strong adoption of its products. This trend is likely to have aided its quarterly performance. An increasing AHV (Acropolis Hypervisor Virtualization) adoption rate might get reflected in the to-be-reported quarter’s top line. Story continues The company has been managing expenses with several cost-reduction methods. This may have contributed to margins. Nutanix’s continued focus on enhancing its go-to-market productivity levels through efficient digital marketing spending, optimizing headcounts and leveraging its channel partners might have positively impacted the to-be-reported quarter’s performance. The company has decreased its global workforce by 2.5%, particularly from the sales and marketing department. The move is anticipated to yield approximately $50 million in annual savings. The ongoing transition to a subscription-based business model might have weighed on the fourth-quarter top-line performance. What Our Model Unveils Our proven model does not conclusively predict an earnings beat for Nutanix this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. But that’s not the case here. You can uncover the best stocks to buy or sell, before they’re reported, with our Earnings ESP Filter . Nutanix currently has Zacks Rank #3 and an Earnings ESP of 0.00%. Stocks With Favorable Combinations Here are some companies, which per our model have the right combination of elements to post an earnings beat in their upcoming releases: Lululemon Athletica LULU has an Earnings ESP of +3.06% and a Zacks Rank #2 currently. You can see the complete list of today’s Zacks #1 Rank stocks here . RH RH has an Earnings ESP of +2.43% and a Zacks Rank #2 currently. Torrid Holdings CURV has an Earnings ESP of +6.12% and a Zacks Rank #3 presently. 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 >> 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 lululemon athletica inc. (LULU): Free Stock Analysis Report RH (RH): Free Stock Analysis Report Nutanix Inc. (NTNX): Free Stock Analysis Report Torrid Holdings Inc. (CURV): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research
[Random Sample of Social Media Buzz (last 60 days)]
None available.
|
Trend: up || Prices: 44895.10, 42839.75, 42716.59, 43208.54, 42235.73, 41034.54, 41564.36, 43790.89, 48116.94, 47711.49
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2017-05-25]
BTC Price: 2304.98, BTC RSI: 74.17
Gold Price: 1255.80, Gold RSI: 55.06
Oil Price: 48.90, Oil RSI: 47.59
[Random Sample of News (last 60 days)]
Trades to make after the US airstrike in Syria fails to shake investors: The"Fast Money"traders break down their market moves Friday after a flurry of political headlines during the week, including a ThursdayU.S. airstrike on Syria, failed to shake investors.
Trader Steve Grasso said he's stepping away from the market because he is "waiting for this [it] to crack." He said he sold Qualcomm(NASDAQ: QCOM)and Micron Technology(NASDAQ: MU), but he is still invested in housing stocks and positioned for impending mergers and acquisitions across the market.
Grasso said he will return to the market if the S&P 500(INDEX: .SPX)jumps over 2400 points on substantial data that's more than just sentiment. The S&P closed at 2355.54 points on Friday, down 0.08 percent.
Trader David Seaburg said he was impressed by the resilience of the market following the U.S. airstrike on Syria. He said he likes the healthcare(NYSE Arca: XLV)and technology(NYSE Arca: XLK)sectors. He said merger and acquisitions should accumulate in the technology space.
Trader Brian Kelly said he will continue to ride high with Wal-Mart(NYSE: WMT). The retailerwas upgraded by a Telsey Advisory Group analyst on Fridayand saw the company's shares saw a 2 percent gain. He said he got into Wal-Mart because he continues to believe the possible border adjustment tax will not become law.
The iShares Nasdaq Biotechnology ETF(NASDAQ: IBB)sector earned favor from Guy Adami with its consistent move higher. The exchange-traded fund is up over 3 percent in the last 3 months.
Adami also said he likes Wal-Mart. He said the stock should continue its climb and outperform Target(NYSE: TGT).
Disclosures:
Steve Grasso's firm is long AON, BX, CUBA, DIA, F, HES, ICE, KDUS, MAT, MFIN, MJNA, MSFT, NE, RIG, SNAP, SPY, SQBG, TITXF, UA, WDR, WPX, ZNGA. Grasso is long CHK, EEM, EVGN, GDX, KBH, MJNA, MON, OLN, PFE, PHM, T, TWTR, VRX. Grasso's kids own EFA, EFG, EWJ, IJR, SPY. No shorts.
"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"
Brian Kelly is long Bitcoin, FXI, HLF, TSLA, WMT, XBI.
Guy Adami is long CELG, EXAS, GDX, INTC. Adami's wife, Linda Snow, works at Merck.
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• How to trade the French election || Bitcoin surges past $1,900 for the first time: (Markets Insider)
Bitcoinis at it again. Overnight, the cryptocurrency topped $1,900 for the first time. It is now trading up by 2.3% at $1,938.81 a coin.
Friday's gains have bitcoin up by about 102% since March 27. The cryptocurrency has gained in 23 of the past 26 sessions.
The rally has seemingly been sparked by news out of Japan at the beginning of April that bitcoin is now considered alegal payment methodin the country. Along the way, Ulmart, Russia's largest online retailer, said it wouldbegin accepting bitcoineven though Russia said it wouldn't explore the cryptocurrency until 2018.
The gains also seem to be boosted by speculation the US Securities and Exchange Commission could overturn itsruling on the Winklevoss twins' bitcoin exchange-traded fund. The SEC was accepting public comment on its decision until Monday, but it hasn't announced whether it will overturn its rejection of the ETF.
Bitcoin has gained 105% this year. Except for 2014, it has been the top-performing currency every year since 2010.
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• This is the work bag professional women everywhere have been looking for || Get ready for a possible 'second wave' of that massive global cyberattack: Microsoft Windows users, brace yourselves. People are worried a second wave of cyberattacks could strike around the world on Monday as employees return to their desks and log onto their computers.
Security experts say the unprecedented ransomware attack that on Friday locked up computers across the globe including UK hospital, FedEx, train systems in Germany among other institutions in exchange for payment, could cause even more trouble as the work week begins. On top of that, copycat versions of the malicious software have already started to spread.
"We are in the second wave," Matthieu Suiche of the cybersecurity firm Comae Technologiestold theNew York Timeson Sunday.
SEE ALSO:Meet the 20-somethings who stopped a worldwide cyberattack
Officials urged companies and organizations to update their Microsoft operating systems immediately to ensure networks aren't still vulnerable to more powerful variants of the malware known asWannaCryor WannaCrypt.
The outbreak, which began last Friday, is already believed to be the biggest online extortion scheme ever recorded.
WannaCry locks up computers, encrypts their data, and demands large Bitcoin payments, which begin at $300 and rise to $600 before the software destroys files hours later. Cyber criminals targeted users in 150 nations, including the U.S., Russia, Brazil, Spain, and India, along with major government agencies, such as the U.K.'s National Health Service and Germany's national railway.
Two researchers in their 20's hadhalted the ransomeware attackon Saturday after discovering and activating the software's "kill switch." The temporary fix initially helped slow down the rate of infected computers.
But some networks may have caught the malicious bug after workers went home, meaning the malware is already there, waiting for employees to power up their computers.
"The way these attacks work means that compromises of machines and networks that have already occurred may not yet have been detected, and that existing infections from the malware can spread within networks," Britain's National Cyber Security Center said ina statementon Sunday.
"This means that as a new working week begins it is likely, in the U.K. and elsewhere, that further cases of ransomware may come to light, possibly at a significant scale," officials warned.
The cyber criminals, whose identities are still unknown, also rebounded from the kill switch activation by releasing a second variation of the malware.
Europol, the European Union's policing agency, said the attack remains an "escalating threat" whose numbers "are still going up" after a brief slowdown on Friday. The agency estimates some 200,000 victims — including 100,000 public and private sector organizations — have been affected since the start of the cyberattack.
The 22-year-old British cyber researcher who found the kill switch said he was now looking into a possible second wave of attacks.
"It's quite an easy change to make, to bypass the way we stopped it," MalwareTech, who uses an alias,told the Associated Press.
The WannaCry malware exploits a vulnerability in Microsoft Windows that was reportedly developed and used by the U.S. National Security Agency. Experts said this vulnerability has been known for months, and Microsoft had fixed the problem in updates of recent versions of Windows. But many users did not apply the software patch, AP reported.
So, in case you needed another reminder, update your software often. And maybe change your passwords while you're at it. || 3 ETFs For Surprise Drop In The Dollar: One of the most prominent consensus calls heading into 2017 was that the U.S. dollar would head higher during the year.
Wall Street analysts were nearly unanimous in their expectation that a Donald Trump presidency would spell only good news for the greenback thanks to stronger growth expectations and higher interest rates.
As is often the case, the consensus expectation has proven to be off the mark, at least during the first part of the year. After peaking at a 14-year high late last year, the U.S. Dollar Index has steadily dropped during the first quarter of 2017, and was last trading down 3% year-to-date.
Last week's failure by Republicans to pass a health care bill through the House of Representatives was the latest setback for the buck, which had rallied four-straight years, measured by the popular U.S. Dollar Index.
Under The Dollar Index Hood
That index is heavily influenced by the euro-dollar (EUR/USD) foreign exchange rate, which has a 57.6% weighting in the index basket. That's followed by the dollar-yen (USD/JPY) at 13.6%; the pound-dollar (GBP/USD) at 11.9%; and a few others with smaller weights.
[{"Currency": "Euro (EUR)", "Weight": "57.6%"}, {"Currency": "Japanese Yen (JPY)", "Weight": "13.6%"}, {"Currency": "British Pound (GBP)", "Weight": "11.9%"}, {"Currency": "Canadian Dollar (CAD)", "Weight": "9.1%"}, {"Currency": "Swedish Krona (SEK)", "Weight": "4.2%"}, {"Currency": "Swiss Franc (CHF)", "Weight": "3.5%"}]
Of course, there are plenty of other currency pairs outside of those in the U.S. Dollar Index basket. The Mexican peso, for example, is up nearly 10% against the greenback after falling to a record low around the time of Trump's inauguration in January.
It could be that the peso is rallying simply because it fell too far and too fast. Or it could be that Trump's policies haven't proven to be as detrimental to the Mexican economy as feared. In any case, the point is that currencies across the board are climbing against the dollar, an unexpected development that investors should pay attention to.
Here are three ETFs that are poised to benefit if the dollar continues to slide:
WisdomTree Emerging Currency Fund (CEW)
TheWisdomTree Emerging Currency Fund (CEW)provides exposure to an equal-weighted basket of 15 emerging market currencies and their money market rates. If the dollar decline goes on, emerging market currencies are likely to be some of the biggest beneficiaries.
CEW's basket includes the aforementioned Mexican peso, the Brazilian real, the Indian rupee and the Chinese yuan, among others.
CEW invests in forward contracts and doesn't pay regular dividends, but it has a chunky implied yield of 4.8%. Year-to-date, the fund is up 5.2% after returning 4.1% last year.
YTD Return For CEW, US Dollar Index
SPDR Gold Trust (GLD)
Widely regarded as a dollar hedge, gold has delivered on its promise this year. TheSPDR Gold Trust (GLD)is up 9% year-to-date, and stands at its highest levels of the year just as the dollar drops to its lowest levels of the year.
That's no coincidence. The 120-day correlation between gold prices and the U.S. Dollar Index is about -0.62, the tightest level since 2012 (a correlation of +1 means the two always move in the same direction, while a correlation of -1 means the two always move in opposite directions).
If this correlation holds, GLD will continue to be one of the best anti-dollar ETFs available for investors.
YTD Return For GLD, US Dollar Index
VanEck Vectors J.P. Morgan EM Local Currency Bond ETF (EMLC)
TheVanEck Vectors J.P. Morgan EM Local Currency Bond ETF (EMLC)is the second-largest emerging market bond ETF on the market, with $3 billion in assets under management, but it's often been overshadowed by the $9.8 billioniShares JP Morgan USD Emerging Markets Bond ETF (EMB).
If the dollar keeps dropping, that could change. The main difference between EMLC and EMB is that the latter invests in dollar-denominated emerging market bonds, while the former invests in local-currency emerging market bonds.
When the dollar is rising―as it's mostly done during the last few years―EMB will have superior returns to EMLC as depreciating emerging market currencies take a bite out of returns for the local-currency fund.
But if the dollar drops, the opposite will be the case. Appreciating emerging market currencies will add to the returns for EMLC. That's what's happened so far this year, with EMLC up 6.8%, compared to 4% for EMB. If the downturn in the greenback has more room to run, expect more outperformance for EMLC.
YTD Returns For EMB, EMLC
Contact Sumit Roy [email protected]
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Permalink| © Copyright 2017ETF.com.All rights reserved || Will We Finally See a Bitcoin ETF?: Bitcoin is back on the table. After rejecting the filing for an ETF on this cryptocurrency by Winklevoss Bitcoin Trust, the SEC is reviewing its decision once again. The proposal actually involved listing the ETF on the Bats BZX exchange, one of the largest U.S. equities market operator (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. Apart from this fact, there was another tailwind that recently made bitcoin a hot investment. As per an article published on CNBC, “Japan legalized the cryptocurrency as a payment method recently and this has led to a greater amount of bitcoin being bought with yen.” The Russian government is also expected to make cryptocurrencies legal financial instruments in 2018, as per the source. Minneapolis Fed President Neel Kashkari pointed to the strength of the blockchain technology supporting bitcoin lately. Overall, the currency has been firing on all cylinders since the beginning of 2017. Most recently, the currency surpassed the mark of $1,700. Its value beat the $900 mark in late December for the first time since February 2014. In mid-2015, the currency was at around $200 (read: Explaining Bitcoin and Crypto Currency). What is Bitcoin? Bitcoins are ‘mined’ by using a greater amount of computer processing power. However, since there is a fixed amount of bitcoins, it becomes hard to ‘mine’ for the coins when the limit is reached. The best part of this system is that it is beyond the reach of central banks (read: Believe It or Not: Winklevoss Bitcoin ETF on the Horizon). What Lies Ahead? The tussle between the U.S. Securities Exchange Commission and Winklevoss over the launch has been going on for about three years. In fact, the issuer has restructured the proposal for the Bitcoin ETF multiple times. The currency is in the limelight probably because of the fact that “bitcoin isn’t regulated by any government and has been used by consumers worldwide to shelter assets from inflation or political upheavals in their home countries.” As per an article published on CNBC, Bitcoin is emerging as a safe haven asset like gold. Story continues With SPDR Gold Shares GLD coming under pressure due to rising rate prospects in the U.S. and a likely higher greenback, one can possibly find refuge in seemingly safe or alternative assets like bitcoin. The operating backdrop may be strengthening for bitcoin, but the SEC is seemingly looking for more proof of the safety in this trade. Plus, after the refusal in March, chances of a SEC approval in the near term is less likely, unless and until further changes are probably done in the proposed fund. As of now, investors probably have to be happy with traditional safe-haven assets and gold and silver bullion ETFs like GLD and iShares Silver Trust SLV (read: 3 Safe-Haven ETFs to Watch on Market Correction). 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 report SPDR-GOLD TRUST (GLD): ETF Research Reports ISHARS-SLVR TR (SLV): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report || Humaniq, Blockchain Financial Platform for the Unbanked, Appoints CEO and 20 Members to Global Advisory Board: LONDON, UNITED KINGDOM--(Marketwired - Apr 12, 2017) - Humaniq ( https://humaniq.co/ ), the blockchain financial platform offering financial inclusion solutions for the unbanked, today announced its executive leadership and advisory board, helping guide the company through its current token sale and the development of its mobile banking app that will support Humaniq's humanitarian initiative. "Humaniq is a disruptive tech platform innovation for good. We are a solution to a global problem," said Alex Fork, President and co-Founder of Humaniq. "More than half the world lives on less than $2.50 a day and more than 80 percent of the world's population lives in countries where income differentials are widening. Humaniq will help reverse these trends and bring people out of poverty by giving them banking tools that are easy to understand. Humaniq will provide liquidity for entrepreneurial ventures via loans, online work and crypto-financing as well as helping to create new opportunities in the digital economy, locally, nationally and internationally. With the appointment of our new CEO we are ready to capitalize on these opportunities immediately." Dinis Guarda has been appointed as CEO of Humaniq. Guarda is an entrepreneur and author with a strong background in international management, blockchain and financial inclusion, who has previously founded the successful ventures Ztudium, intelligenthq.com and Tradingfloor.com. Alex Fork, who founded Humaniq in 2016 to help lift the unbanked out of poverty in emerging economies, now serves as President and Leading Visionary of Humaniq. Fork previously founded the Future Fintech Accelerator and authored the book "Bitcoin: More than money." "We strongly believe that the heart, humanity and experience represented on this team will be the driving force behind Humaniq's success," said Dinis Guarda, CEO of Humaniq. "We have already raised over $3M for our token sale in just three days," added Guarda. "With our strong team and advisory board as our foundation, we look forward to building the new world of financial inclusion, industry 4.0 and education together with Humaniq," Guarda explained. Story continues The Humaniq executive leadership team consists of: Alex Fork , President and Co-Founder of Humaniq and Leading Visionary, Luxembourg. Dinis Guarda, CEO of Humaniq, UK. Dmitry Kaminskiy, Co-Founder and Executive Chairman of Humaniq, UK. Richard Kastelein, Chief Marketing Officer, Netherlands. The Humaniq advisory board consists of twenty leaders from around the world with diverse backgrounds in global policy, public affairs, technology, science, blockchain and education: Nick Ayton, Technology Advisory Board / 21 Million Project, UK Karl Hoods, Policy and Legal Advisor, Save the Children, London, UK Pavel Kravchenko, Technology/Blockchain Advisor, Ukraine Michael Terpin, Technology Advisor/Transform Group, San Juan, Puerto Rico. Chami Akmeemana, Technology Advisor/Policy and Legal advisory board / Advisor for regulator, Ontario Securities Commission (OSC), Australia Matt McKibbin, Technology Advisor/Crypto Economy, US Ron Morris, Scientific Advisor/Education/Universities Advisor, Director Groupe INSEEC San Francisco, US Derin Cag, Advisor Chief Influencer Officer, Founder of Richtopia.com, UK Tim Campbell MBE, Public Affairs and Global Policy advisory, UK Alex Bausch, Technology Advisory Board / Co-Chairman of the Blockchain Ecosystem Network, Netherlands Matthias Klees, Technology Advisor / Bitcoinsulting, Szenekonzept, Germany Iggy Bassy, Policy and Legal advisory board / Social Impact and AI, Data expert, Founder Cervest UK Paul Mears, Policy and Financial Risk advisory board / Currency International Payments advisor, Monaco Vishai Mishra, Technology advisory board / Big Data and Security, Rightrelevance.com, US David Applefield, Public Affairs and Global Policy Advisor/Communications and PR Advisor, FT Special Rep for Africa, France. Jochen Heussner, Chief Financial Officer / Legal and Financial Investment Advisor EU, Founder Planetcompliance.com, Italy Alexander Perkins, Legal and Financial Investment Advisor, USA Alakanani Itireleng, Africa [leading] Ambassador, Botswana Dickson Nsofor, Technology and Policy advisor, New York branch lead, United Nations relations, US Maria Fonseca, Evangelist and Thought Leader, Editor Intelligenthq.com, UK. Humaniq is currently hosting a public Token Sale to fund its Blockchain banking app for financial inclusion. The ICO reached 1706 Bitcoin, 2,030,037.64 US Dollars in its first day. "This project is much beyond crypto-currencies. This is a social good movement gathering the best people in the world focused on converting the most advanced tech for sustainable development in the undeveloped world. Now, with this enhanced advisory board, the Humaniq project will be able to address governments and global non-profit organizations. The technological tool to tackle down the main challenges facing the 2 billion unbanked people has arrived. Humaniq will create deep impact for social good on a global scale," said Dmitry Kaminskiy, co-founder of Humaniq and managing partner of Deep Knowledge Ventures. To learn more and to participate, visit: https://my.humaniq.co/?roistat_visit=103423 . About Humaniq: Humaniq is an Ethereum-based blockchain banking app building the next generation model for financial services. Launched in 2016, Humaniq aims to provide mobile finance to the 2 billion unbanked population through its mobile app that uses biometric authentication to replace traditional methods of ID and security. Humaniq's open source stack and API will be available for startups and other businesses to build services on its core technology, making it easy to adapt their service and plug it into Humaniq's network to reach a huge, untapped audience. For more information, visit https://humaniq.co/ . || Bitcoin is taking off: Bitcoinis up 2.1% at $1,062 a coin, as of 8:02 a.m. ET, extending its winning streak to a second day. The two-day advance has tacked on 11% as traders ready for the upcoming US Securities and Exchange Commision ruling on another bitcoin ETF, on or before March 30.
TheSolidX Bitcoin ETF is expected to suffer the same fate as theWiklevoss twins' bitcoin ETF, which was rejected by the SEC on March 10. At the time, the SEC said it was rejecting the Winkleovss ETF becauseit did not "find the proposal to be consistent with Section 6(b)(5) of the Exchange Act, which requires, among other things, that the rules of a national securities exchange be designed to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest."
Bitcoin has had a volaile 2017. It gained 20% in the first week of the year before crashing 35% on news that China was going to crack down on trading. The cryptocurrency then rallied another 75%, putting in an all-time high of $1,327.19 the morning of the SEC's ruling on the Winklevoss ETF before tumbling to a low of $939 on Monday amid fears developers were threatening to set up a "hard fork" that would split bitcoin in two.
Bitcoin has been the top-performing currency every year since 2010, except for 2014. It gained 120% last year.
(Investing.com)
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• Bitcoin is roaring back || Google exec explains how Google Assistant just got smarter: At this week’s keynote show for its big developers conference, Google ( GOOG , GOOGL ) unveiled news about features and products coming down the pike this year, both for developers and the masses. A highlight: Google Assistant is growing up. (For the uninitiated, Assistant is Google’s version of Siri.) Google’s vice president for Assistant, Scott Huffman, sat down with me to discuss the announcements. First things first: What is Assistant? An app? A product? A feature? “The Google Assistant is not an app or a device. What you really want from an Assistant is not just a thing that’s in one place. You want something that you can have a conversation with and get things done wherever you are, whatever context you’re in,” he says. That could include your phone, your car, or your Google Home. “I leave home,” Huffman says by way of example. “I say to my Google Home, ‘how late’s Home Depot open? Well, give me the directions.’ It should say, ‘Sure, they’re on your phone.’ As you walk out the door, the Assistant on your phone picks up the conversation.” Assistant is built into every Android phone (long-press the Home button to bring it up)—but starting this week, it’s also available on the iPhone, as the Google Assistant app . Either way, you can now type those questions and commands to Assistant instead of speaking them, if you prefer—something you can’t do with, say, Siri. Handy when it’d be inappropriate to talk aloud. Then there’s Google Lens. “Google’s been making deep investments in vision and machine perception,” Huffman says, “and so we’re building that into the Assistant. So now, I can just open the viewfinder inside the assistant and say, hey, what about this? And the assistant starts to give me options.” For example, you can point the camera at a flower, a building, a painting, a book cover, a restaurant storefront. The Assistant recognizes what you’re looking at, and instantly gives you information: identification of the flower, ratings for the restaurant, and so on. And not just details, but actions to choose. “One of the examples we showed is pointing the camera at a marquee of a show where it says, this band at this time. And then you get options like, you want to hear that band’s music? Do you want to buy tickets? You want to add to your calendar? You do want to share it with your friend?” So just how smart can Assistant get? Huffman knows where he wants it to go. “I can tell you how I say it to my team,” he says. “I say, ‘Hey guys, we’re just building this really simple thing. All it has to be is that anyone can have a conversation with it anywhere, anytime, with no friction. We should understand that conversation, whatever it’s about. And then just do whatever they ask us to do. Let’s just build that.” Story continues Sounds good. Get to it, team! More from David Pogue: Inside the World’s Greatest Scavenger Hunt: Part 1 • Part 2 • Part 3 • Part 4 • Part 5 The David Pogue Review: Windows 10 Creators Update Now I get it: Bitcoin David Pogue tested 47 pill-reminder apps to find the best one 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 . View comments || The Google Home is the first voice assistant to know who's talking: You probably know what the Amazon Echo ( AMZN ) is, right? It’s the tall black cylinder that serves as a Siri for your home ( here’s my review ). From across the room, it can understand and field a huge number of queries—weather, sports, movies, facts—and connect to a huge number of services and home-automation products (Nest, Uber, Domino’s Pizza, etc.). A few months back, Google ( GOOG , GOOGL ), without a trace of shame, released its own, nearly identical cylinder, called Google Home ($130). Since Amazon had a five-year head start, it has remained the more capable cylinder. But last month, Google introduced a new feature that changes the game so much , it’s practically a different sport: Person recognition. That is, the Google Home now knows who is speaking, and can deliver the answer based on that person’s calendar, work commute, music playlists, Uber account, and so on. (It can distinguish up to six people in a household.) Training the thing to recognize a new voice is as simple as saying “OK Google” and “Hey Google” twice each into the companion phone app. Now, there are some important footnotes to this business—more on that in a moment. But in theory, here’s what multi-voice recognition is supposed to get you: “Hey Google, what’s next on my calendar?” It speaks your next appointment. (Requires, of course, that you keep your agenda on Google Calendar.) “OK Google, play my Relax playlist.” It begins to play the corresponding playlist from your Spotify, YouTube Music, Pandora, or Google Music account. “Hey Google: Add cranberry juice to my shopping list.” It adds that item to your shopping list, as maintained on Google Keep. “Hey Google, how does my commute look?” It speaks the current travel time to your place of work, based on current traffic conditions. (Requires that you’ve entered your home and work addresses in the app.) “OK Google: Give me the news.” It plays the latest news report from your preferred news source (NPR, for example). “OK Google, call me an Uber.” Summons the nearest Uber driver, using your Uber account. When you play a podcast, the Google Home remembers where you left off. The recommendation engines for services like YouTube and Spotify now keep everybody’s consumption habits separate, so your trash-action-movie habits don’t pollute your wife’s chick-flick history. Story continues In fact, Google says that all add-on features (third-party voice commands that Google calls Services and Amazon calls Skills) are automatically speaker-recognizing. They all store each family member’s history and preferences separately. Person recognition in practice All of that is the theory. In practice, there are a few problems left to solve. The first one is that the recognition just doesn’t work all the time. Too often, the Home responds by saying, “I wasn’t able to verify your voice.” She recommends that you re-train your voice. Actually, you’re lucky if she says that. In some cases, she doesn’t even let you know that she can’t identify you; instead, she just treats you as a guest, and you’ll never know what went wrong. Here’s what I mean: For days, I tried to get the shopping-list feature to work. “Add shaving cream to my shopping list,” I’d say—and that would work. Then my assistant Jan would try it. “Add peanut butter to my shopping list”—but it would add peanut butter to my shopping list, alongside the shaving cream. An emailed cry for help to Google revealed the answer: The company believes that most households maintain a single shopping list. So until you change your settings, everybody’s requests get dumped onto one common list. (To enable separate shopping lists, people 2, 3, 4, 5, and 6 must open the Google Home app, create a new shopping list, and designate it as their Primary lists.) But even then it still might not work. If Google Home doesn’t recognize the speaker, she doesn’t say “I wasn’t able to verify the voice.” Instead, she dumps the shopping-list item onto the first person’s list. Baffling. I kept running into a similar problem with music. If you say, “Play my Party playlist,” Google Home starts playing soft jazz, which is what’s in your Spotify Party playlist. But if your teenager says “Play my Party playlist,” it doesn’t start playing his headbanger heavy-metal; it plays your soft jazz. Here again, that happens when Google Home isn’t sure who’s speaking. Instead of telling you, she just starts playing the first person’s music. How to fix the not-recognizing If you find that Google Home keeps not recognizing you, you’re supposed to open the app and repeat the “Hey Google”/”OK Google” training business. Two problems. First, it’s ridiculously hard to find that place in the app. (Hint: Tap the Menu icon in top left; tap More Settings; tap Shared Devices; tap “Teach it your voice again.”) Second problem: What Google doesn’t make clear is that you’re not re-training Google Home; you’re providing additional training. I had assumed that my new “Hey Google/OK Google” recordings would replace the original ones. But in fact, Google says, the more times you do this, the more accurate she’ll get. So maybe there’s hope for this voice-differentiation thing after all. Google vs. Amazon Most head-to-head comparisons of the Google Home and the Amazon Echo declare Amazon the winner, primarily because it does so many more things. It controls far more home-automation devices (“Alexa, make the downstairs two degrees cooler,” “Alexa, turn off the bedroom lights,” etc.). And software companies have created at least 7,000 Skills (add-on commands)—far more than the puny 215 available for Google. I have to say, though: Even though Amazon’s ecosystem puts Google’s to shame, its technology is not as good. Some examples: You can’t use any of Amazon’s Skills (add-on commands) until you open the app, find the one you want in a list, and turn it on manually. All of Google’s Services are ready and waiting to use at any time. Google Home communicates with Google Chromecast, a $35 dongle that plugs into your TV. You can say, “OK Google, play John Oliver on TV,” or “Hey Google, turn on subtitles,” or “OK Google, turn on Netflix.” Just say that! Out loud in the room! And boom, it’s now on your TV. This is pure magic. You can group multiple Google Homes as a single speaker system, so they all play the same thing simultaneously. You can use the popular If This, Then That (IFTT) website to create new commands of your own—and you can create wordings of your own (“Turn off all the lights”). With Amazon, you must goofily say “Alexa, trigger ‘Turn off all the lights.’” In general, most of the Alexa add-on commands are clunkier that way. If you have a Harmony universal remote, for example, you can just say “OK Google, turn on the TV.” But if you have an Echo, you have to say, “Alexa, trigger ‘Turn on the TV.’” Google Home can walk you through any of 5 million recipes from Bon Appetite, The New York Times, Food Network and so on. You say, “OK Google, next step,” and she speaks the next step in the instructions. Multi-person recognition . As you know. (Obviously, this feature won’t remain a Google exclusive for long. If Amazon isn’t working on its own similar feature, I’ll eat my hat.) Of course, there are Google Home limitations, too. You can’t create reminders or To Do lists by voice (you can on the Amazon). The Amazon can order products (from Amazon) and read Audible e-books; the Google can’t. Google Home is also bizarrely disconnected from Google’s own services. You can’t get it to read your Gmail aloud, or change or add calendar appointments by voice. There’s no integration with Google Docs, and no ability to supply Google Maps driving instructions or send them to your phone. And, of course, the Google Home costs $130. That’s cheaper than the full-size Amazon Echo ($180), but not as cheap as the compact Echo Dot ($50), which does exactly the same things but doesn’t have as rich-sounding a speaker. Multi-person But never mind all that. Because it can now determine who’s speaking (usually), the Google Home just got scarily smarter—and knowing your preferred music, calendar, shopping list, and preferences is only the tip of the iceberg. This feature could be the gateway to a whole universe of useful features. You could say, “turn off my bedroom lights,” and it’ll know whose bedroom. You can say, “where’s my phone?”, and it’ll ping your phone under the couch. You can say, “Send flowers to my wife,” and it’ll know whose wife. Which could, you know, kind of matter. So: Well done, Google. Your move, Amazon. More from David Pogue: Inside the World’s Greatest Scavenger Hunt: Part I Inside the World’s Greatest Scavenger Hunt: Part 2 The David Pogue Review: Windows 10 Creators Update Now I get it: Bitcoin David Pogue tested 47 pill-reminder apps to find the best one 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 . || Bitcoin surges to all-time high above $1,700: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Digital currency bitcoin hit a record high on Tuesday as demand for crypto-assets soared with the creation of new tokens to raise funding for start-ups using blockchain technology. Blockchain, the underlying technology behind bitcoin, is a financial ledger maintained by a network of computers that can track the movement of any asset wthout the need for a central regulator Bitcoin hit a record $1,760.40 on the BitStamp platform and was last at $1,747.89, up 6 percent on the day. So far this year, bitcoin has surged nearly 80 percent. Bitcoin's market capitalization on Tuesday soared to $52.5 billion, according to data from coinmarketcap.com. Aside from being an asset that can be traded on exchanges like stocks and bonds, bitcoin has become a mode of payment for some retailers, such as Overstock.com, and a way to transfer funds without the need for a third party. "We have an influx of new capital in the space and that capital goes back and forth among crypto-assets and bitcoin," said Chris Burniske, blockchain products leader at ARK Invest in New York, which manages exchange-traded funds. "Bitcoin is still the main liquidity provider in the market and people use it to buy other crypto-assets." That said, Minneapolis Federal Reserve Bank President Neel Kashkari has been skeptical about bitcoin's outlook, noting that blockchain has more potential for being adopted in the future than the digital currency itself. "I think sentiment has shifted in the markets, in the Fed," Kashkari said at a technology conference in Minneapolis on Tuesday. Still, a big part of bitcoin's recent surge is the increase in demand for other digital currencies being sold in so-called "initial coin offerings," or ICOs. Under ICOs, blockchain start-ups sell their tokens directly to the public to raise capital without any regulatory oversight. At least 40 start-ups have launched an ICO this year, according Smith + Crown data. "For the first time in financial history, founders can access capital from both large and small investors armed with nothing more than a slick website," said Arthur Hayes, chief executive at crypto-currency derivatives trading platform BitMEX. Analysts say the foundation for bitcoin's gains was set last July in a process called "halving," in which rewards offered to bitcoin miners shrink. That has constrained bitcoin's supply. Bitcoin relies on so-called "mining" computers that validate blocks of transactions by competing to solve mathematical puzzles every 10 minutes. In return, the first to solve the puzzle and clear the transaction is rewarded with new bitcoins. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Dan Grebler)
[Random Sample of Social Media Buzz (last 60 days)]
#Bitcoin -0.55%
Ultima: R$ 3679.66 Alta: R$ 3705.00 Baixa: R$ 3585.10
Fonte: Foxbit || Bitwage Upgrades Bitcoin Payroll Service for EU Customers http://bit.ly/2oFo4dr | #cryptocurrency #altcoin || Try gktrading at https://LocalBitcoins.com/ad/450082?ch=w7m … only £940.00 per BTC. (BPI +1.44%) #buy #bitcoin #banktrans || $1420.18 at 19:45 UTC [24h Range: $1388.00 - $1481.73 Volume: 9580 BTC] || Buying bitcoins can be delicious at https://Bittylicious.com/refer/2465 £1,800.00 per BTC. (BPI +4.54%) #buy #bitcoin #banktrans || 1 #BTC (#Bitcoin) quotes:
$1011.43/$1012.46 #Bitstamp
$1031.00/$1034.92 #BTCe
⇢$18.54/$23.49
$1012.94/$1023.70 #Coinbase
⇢$0.48/$12.27 || $1201.17 at 22:30 UTC [24h Range: $1175.95 - $1210.00 Volume: 5491 BTC] || No small biz can afford the price: #WannaCry ransom = 300 Bitcoin = $522600.00
#CyberSecurity, gold & oil never been this 'lucrative' pic.twitter.com/h4KS0of5On || 1 BTC Price: BTC-e 1386.441 USD Bitstamp 1465.58 USD Coinbase 1475.00 USD #btc #bitcoin 2017-05-03 12:30 pic.twitter.com/3XJZNkhthk || 1 #BTC (#Bitcoin) quotes:
$1167.89/$1169.99 #Bitstamp
$1175.28/$1175.99 #BTCe
⇢$5.29/$8.10
$1164.99/$1177.36 #Coinbase
⇢$-5.00/$9.47
|
Trend: up || Prices: 2202.42, 2038.87, 2155.80, 2255.61, 2175.47, 2286.41, 2407.88, 2488.55, 2515.35, 2511.81
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2018-01-31]
BTC Price: 10221.10, BTC RSI: 36.88
Gold Price: 1339.00, Gold RSI: 59.49
Oil Price: 64.73, Oil RSI: 63.21
[Random Sample of News (last 60 days)]
What you need to know on Wall Street today: worried waiting watching listening trader Drew Angerer/Getty Images Welcome to Finance Insider, Business Insider's summary of the top stories of the past 24 hours. Sign up here to get the best of Business Insider delivered direct to your inbox. Traders are betting more and more that the stock market will soon snap out of its prolonged slumber. This can be seen through a measure called skew, which looks at bullish CBOE Volatility Index , or VIX, options contracts compared with bearish ones. It's at its highest level in two years, having risen swiftly in recent weeks, indicating an expected volatility spike . In deal news, leaked Mashable documents show how bleak things were before Ziff Davis came to the rescue . And Kinderd Healthcare is being bought by Humana and two private equity firms for $4.1 billion. In related news, Jefferies had a record year in investment banking . And here's who's on pace to win Wall Street bragging rights for 2017 . In tax news: CRUNCH TIME: Republicans are set to close out their massive tax overhaul The GOP tax bill has a last-minute change that could be a huge win for Sen. Bob Corker and Donald Trump The Republicans' massive tax bill keeps a loophole that benefits fund managers — even though Trump slammed it during the campaign A rough new analysis shows the final GOP tax bill would favor the richest Americans The GOP tax plan separates Wall Street's rich from its filthy rich And in crypto news: BANK OF AMERICA: Bitcoin is the "most crowded" trade MORGAN STANLEY: Investors pumped $2 billion into crypto funds this year — and 2018 will be bigger Citron Research gets short Riot Blockchain, says it's reached "full mania" A little-known import/export financier soared 2,400% after buying a blockchain technology — but now shares are crashing off their highs The SEC just halted trading of The Crypto Company — whose shares have soared 17,000% in three months A South Korean cryptocurrency exchange is filing for bankruptcy following a second hack Lastly, a "prominent Upper East Side couple" in NYC is offering two people a $150,000 salary to cook, clean, and run errands for them . NOW WATCH: This is one of the best responses to Jamie Dimon calling bitcoin a fraud that we have heard so far See Also: What you need to know on Wall Street today What you need to know on Wall Street today What you need to know on Wall Street today View comments || How Xunlei Ltd. Stock Quadrupled in 2017: What happened Shares of China-based cloud computing expert Xunlei (NASDAQ: XNET) gained 289.7% in 2017, according to data from S&P; Global Market Intelligence . The soaring gains started when the company announced a new business plan built around blockchain technologies . A man studies a wall-size graphic of basic blockchain concepts. Image source: Getty Images. So what Xunlei's shares traded roughly in line with the broader market until the middle of August. That's where Xunlei launched a new file sharing platform dubbed OneCloud, where data is transferred and managed using blockchain technologies, and users are paid for their participation in a form of cryptocurrency. Since then, Xunlei's shares have gone absolutely bananas. Blockchain and cryptocurrency technologies have been red-hot lately, with leading crypto-coin bitcoin's prices rising 15-fold in 2017. Xunlei's OneCoin is a different animal, but the company is using all of the right keywords to tap into the cryptocurrency craze in a big way. XNET Chart XNET data by YCharts . Now what More recently, the Chinese government has announced several rounds of crackdowns on Bitcoin and other cryptocurrencies. These moves also brought Xunlei's share prices down several notches, despite management's protestations that OneCoin isn't a fraud-like cryptocurrency but a totally legit blockchain tool. You win some, you lose some. As long as blockchain and cryptocurrencies remain controversial (which may or may not be forever), you should expect this stock to continue posting wild swings both up and down. 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 . || Largest Bitcoin exchange temporarily halts buying and selling amid price mini-crash: Coinbase - one of the largest cryptocurrency exchange websites - has temporarily disabled buying amid a massive sell-off following Bitcoin's price plunge.
"Due to today's high traffic, buys and sells may be temporarily offline. We're working on restoring full availability as soon as possible," Coinbase wrote on its website at 4.35pm (local time).
Bitcoin tumbled more than 30 percent after passing the all-time record $20,000 mark on Sunday.It dropped to $12,560on Friday morning, following a week of warnings from global investors and high profile hacks on currency exchanges.
It is widely believed that soaring popularity ofBitcoin Cash, which is a clone that shares its name and many key features, might be to blame. After Coinbase began selling the rival on Tuesday, Bitcoin's price dropped 10 per cent.
The company's mobile app is one of the most popular ways to buy cryptocurrency, but it has suffered glitches in the past.
Volatility has led to high traffic as people hurry to buy and sell, and on December 12 it was forced to take trading for rival coin Ethereum twice in one day.
Bitcoin's drop puts it on the cusp of a bear market, but analysts are in two minds over whether it signifies a bursting of the so-called Bitcoin bubble.
The cryptocurrency's staggering rise has become something of a roller coaster ride. While the drop appears significant, analysts have assured those who have invested that it has only dropped to a price seen two weeks ago, and could easily rise again.
However, it does signify howfickle digital coinscan be, with Bitcoin's rivals predicted to flourish in the new year.
"There are clear divergences happening in the market and the community is not as behind Bitcoin as before, and we could see other rivals catching up quicker in the new year," Neil Wilson, senior market analyst at ETX Capital told the Telegraph.
But Michael Jackson, ex-COO of Skype and partner at venture fund Mangrove Capital said: "The vast majority of long term holders of bitcoin are still way in the money and have shown no sign of cashing out.
"We see the exit of short term speculators and we have seen it before. The fundamentals are still in place and there is no reason why the bitcoin ecosystem should not continue to develop."
Now almost a decade old, Bitcoin has struggled to cope with the surge in price and popularity that has seen its price rise from $1,000 at the start of the year.
Amid its ongoing popularity, many financial sector analysts and banking leaders have warned against buying Bitcoin, with JP Morgan boss Jamie Dimon describing it as “fraud”.
There have been comparisons to the dotcom bubble of the early 2000s which saw technology stocks lose billions in value and even the alleged “Beanie Baby bubble”, when rumours spread that limited edition plush toys would make their owners millionaires in the future.
At their peak in 1999, Beanie Babies accounted for 10pc of all eBay sales but two years later sales had dropped 90pc, according to Zac Bissonette, the author of The Great Beanie Baby Bubble: Mass Delusion and the Dark Side of Cute.
Others claim that drops like those seen on Friday have happened before and are not a warning sign. In September, after reaching a then high point of more than $5,000, Bitcoin lost almost half of its value in a few days as investors cashed in their profits.
Blockchain.info, the largest Bitcoin storage website, which holds people’s cryptocurrency in digital wallets, claimed to have 10 million customers at the start of 2017.
Bitcoin “billionaires” include the Winklevoss twins, who sued Mark Zuckerberg claiming he stole the idea for Facebook.
Chicago’s CME, the world’s largest exchange provider, launched its Bitcoin futures market on December 18, which analysts suggested would lend the currency an air of legitimacy. Despite the plunge trading has continued. || What you need to know on Wall Street today: Welcome to Finance Insider, Business Insider's summary of the top stories of the past 24 hours. Sign uphere to get the best of Business Insider delivered direct to your inbox.
Disneyhas agreed to acquire21st Century Fox's film studio and a large chunk of itstelevision production assets for $52.4 billion. Here's what you need to know:
• Disney is spending $52.4 billion to arm itself for a war with Netflix
• Disney has struck an industry-changing deal, and now "everybody is talking to everybody"
• How Hollywood will fundamentally change after the Disney-Fox deal
• Netflix is shrugging off the Disney-Fox deal
• Disney and 21st Century Fox used four words that should make employees nervous
• Bankers on the Disney-21st Century Fox deal are set to make a $150 million payday
In related news, the Federal Communications Commission is voting on a net-neutrality repeal.You can follow that live here.
On Wall Street, Citigroup's new managing-director list is out —here are the investment bankers and traders who just got promoted.And we asked two of Citigroup's top executiveswhat they look for when hiring senior investment bankers.
The head of UBS's£1 trillion wealth management business has left in a major board reshuffle.And a partner has left Tourbillon Capital,a struggling New York hedge fund.
As expected, the Federal Reserve on Wednesdayraised its benchmark interest rate. Here's what you need to know:
• The Fed’s forecasts for the economy confirm what everyone already knows about the GOP tax cut plan
• YELLEN: Bitcoin is a "highly speculative asset"
• Something doesn't add up in Janet Yellen promise of higher wages
• How you feel about Trump's economy probably depends on whether you own stocks
In crypto news:
• One group of traders has risen to dominate bitcoin trading
• ALBERT EDWARDS: Ignore the bitcoin bubble and pay attention to what's going on in the stock market
• German exchange Deutsche Boerse mulls launch of European bitcoin futures
• A company investing in the future of bitcoin tech is splitting its stock in 10 after it soars 1,600%
• Someone is selling a "spectacular" penthouse in Miami — but they're only accepting bitcoin
• ICO funding soars above $4 billion as US regulators crack down
Lastly, people travel thousands of miles to sell Christmas trees on the streets of Manhattan —meet an Alaskan family who has been doing it for 21 years.
NOW WATCH:This is what Bernie Madoff's life is like in prison
See Also:
• What you need to know on Wall Street today
• What you need to know on Wall Street today
• What you need to know on Wall Street today || Bitcoin price - live updates: Cryptocurrency value shifts unpredictably after recent slumps: The value of bitcoin is fluctuating unpredictably after a tumultuous period for the cryptocurrency . It hit a new record high when it passed the $19,850 mark on 17 December, but tumbled rapidly soon after, falling to below $12,000 within days. Its worth $14,730 as of Friday afternoon UK time, according to the Coinbase exchange. Its value is up more than 35 per cent over last month and more than 1,425 per cent over the last year, but recent goings-on have demonstrated just how quickly the situation can change. The cryptocurrencys value fell dramatically last week, dropping by almost $2,000 in just an hour at one point, and almost slipping below the $11,000 mark last Friday. After recovering, it slipped by around $1,500 in the space of 24 hours earlier this week. Bitcoin is notoriously volatile, and its value is expected to continue to shift wildly. Those fluctuations have caused problems with actually using bitcoin, with Steam recently announcing that it wont be able to take it any more and multiple exchanges saying the huge amounts of trading is leading to problems with actually transferring them. Naturally, its spectacular rise has coincided with increasing amounts of interest, with more and more people now looking to invest. It also appears to have boosted alternative cryptocurrencies, such as ethereum and litecoin, which have both seen huge gains in recent weeks . However, there are serious fears that bitcoin has created a bubble that could burst at any moment . Numerous financial experts are advising potential investors to avoid getting involved with bitcoin , though others are speculating that it could keep rising towards the $1m mark. Bitcoin only exists online, has no central bank and isnt linked to or regulated by any state. An anonymised record of every bitcoin transaction is stored on a huge public ledger known as a blockchain. However, transactions made with the cryptocurrency are irreversible, which makes investors in bitcoin attractive targets for cybercriminals. This article is being regularly updated to reflect bitcoins latest value. || Bitcoin Hits Another Record -- Bubble or Bargain?: Bitcoin(BTCUSD) seems to hit new record highs on a regular basis these days, and just topped $11,900 in the hours before I wrote this -- yet another new all-time high. This represents an increase of more than 1,200% in 2017 alone.
Industry experts are split on bitcoin and its remarkable run. Many say that the digital currency could be worth $25,000 or even more by the end of 2018, andtwo notable expertshave forecast a $1 million price tag by 2020. On the other hand, several economists and banking experts have gone so far as to call bitcoin a "fraud" and claim that this is a bubble unlike anything the world has ever seen.
To be fair, there are solid arguments to be made for both sides. Under the right conditions, bitcoin could certainly become worth much more than it is today, but if the numerous challenges facing the digital currency remain unsolved and speculators start to head for the exits, a massive plunge in the price of bitcoin could definitely happen. Here's a rundown of the bull and bear cases for bitcoin and what it means to you as a prospective investor.
Image Source: Getty Images.
Most people on either side of the argument would agree that bitcoin is not widely usedas a currencyjust yet. That is, most people who own bitcoins are either early adopters of the currency or are speculators who believe the currency will be worth more in the future, and are driving the price based on simple supply and demand dynamics.
So, it's fair to say that bitcoin's future potential is at least somewhat priced in at this point.
However, if bitcoin does catch on as a mainstream form of payment among consumers and merchants around the world, it's certainly conceivable that bitcoin could be worth a whole lot more. Based on the recent $11,900 record, the value of all bitcoins in existence is about $195.2 billion. Meanwhile, the global money supply is estimated to be nearly $70trillion. If bitcoin becomes a widely used currency around the world, it could certainly become a multitrillion-dollar portion of the money supply and therefore be worth many times its current value.
Not so fast. Before bitcoin could become a widely used currency,certain things would need to happen. Just to name a few:
• Bitcoin would need to become much less volatile. After all, nobody wants to rely on a currency whose value regularly fluctuates by 10% or more within a week.
• Bitcoin would need to become much easier for the average (not tech-savvy) consumer to use.
• Bitcoin would need to be widely accepted by merchants as a payment option, which would mean that merchants would need to understand bitcoin and know how to use it.
• The threat of bitcoins being hacked or stolen would need to be virtually eliminated.
• The blockchain would need to be able to handle more transactions that it's currently capable of. The blockchain network can currently handle about three transactions per second. In contrast, Visa's network regularly processes 2,000 transactions per second. In other words, bitcoin transactions could not efficiently be processed if usage soars.
One of the most notorious bitcoin critics, JPMorgan Chase CEO Jamie Dimon has called bitcoin a fraud and that it is a bubble that will eventually burst. "It's just not a real thing, eventually it will be closed," Dimon said in September 2017. At a conference in October, Dimon even doubled down on his comments by saying that if people are "stupid enough to buy it," they'll pay the price for it one day. Yale economist Stephen Roach recently said that bitcoin is in a "dangerous speculative bubble," and that the cryptocurrency is a "toxic concept for investors."
Dimon and many other experts who think bitcoin is in a bubble does think that the underlying blockchain technology does have value, but that doesn't mean that bitcoin itself is worth anything. Roach cited bitcoin's lack of intrinsic economic value, and he has a point. As I mentioned earlier, bitcoin is not widely used by consumers yet, which is where a currency would derive its economic value.
One wildcard is the upcoming rollout of bitcoin futures, which will begin trading on the CBOE in just a few days. While this certainly adds legitimacy to bitcoin as an investable asset and could help stabilize the volatile digital currency, it also allows traders to make speculative bets on the price of bitcoin, in both the upward and downward directions.
Experts have generally suggested that more downside bets will be made, particularly as hedges by people who already own bitcoin, which could certainly put downside pressure on the price. Many hedge fund managers have also expressed bearish sentiment toward bitcoin, and may see this as a compelling shorting opportunity once the futures are rolled out.
At this point, there's simply no way to know which side is right. I could see bitcoin rising to a six-figure price tag under the right circumstances, but I think that a crash to a small fraction of the current price is just as likely, if not more.
The bottom line is that it's important not to confuse investing with speculating, and bitcoin is definitely a speculative purchase right now. The prospect of bitcoin jumping to $1 million in just over two years is certainly appealing, but under no circumstances should anyone buy bitcoin with money they can't afford to lose, because if it turns out to be a bubble, that's exactly what could happen.
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The Motley Fool has adisclosure policy. || United Airlines Doubles Down on Its Dubious Growth Strategy: Over the past decade, U.S. legacy carriersUnited Continental(NYSE: UAL),Delta Air Lines(NYSE: DAL), andAmerican Airlines(NASDAQ: AAL)have gone from being perennial money losers to reliable profit machines. A shared commitment to keeping capacity in check was critical to the industry's renaissance.
However, under its new management team, United Continental has thrown that playbook out the window. After boosting capacity 3.5% in 2017 -- well ahead of GDP growth -- United plans to grow even faster over the next three years. This growth plan is already causing United's pre-tax margin to deteriorate. In the long run, thedamage could be even worseif United's aggressive growth in smaller cities triggers a fare war with American and Delta.
The core insights behind United Continental's growth strategy are relatively straightforward. The profitability of a hub-and-spoke airline depends significantly on how many connecting itinerary options it can provide. This means that having large hubs -- and building efficient schedules to maximize the number of available connections -- is critical to success.
United Continental wants to boost the productivity of its hubs. Image source: United Airlines.
Delta Air Lines' massive hub in Atlanta is the ideal example of how a hub should work. Delta operates roughly 1,000 peak-day departures there, serving more than 200 destinations. No matter where you need to go, there's a good chance you can get there with a connection through Atlanta.
United Airlines' mid-continent hubs in Chicago, Denver, and Houston are undersized, by comparison. United operates just 545 daily departures in Chicago, its largest hub.
United's growth strategy calls for adding flights at all three mid-continent hubs -- and to a lesser extent, at its coastal hubs. The focus will be on flying to more small cities, where fares tend to be higher due to minimal competition from budget carriers. However, this plan is far riskier than United Continental's management is willing to admit.
The first major risk is that United Continental will be stuck operating its new small-city routes with 50-seat jets indefinitely. Whereas Delta and American have scaled back their use of these planes in recent years, United plans to increase its fleet of small regional aircraft by 31 planes during 2018.
United Continental's leadership recognizes that relying on 50-seat jets is unsustainable. They havehigher unit coststhan 76-seat regional jets, and customers hate flying on them. However, United's pilot contract limits its use of the vastly more profitable 76-seat jets.
United Airlines' pilot contract limits the carrier's use of 76-seat jets. Image source: United Airlines.
United Continental President Scott Kirby seems to be awfully confident that the pilots will agree to relax this "scope clause" in upcoming contract negotiations without demanding much in return. That would be unprecedented. United's existing pilot deal allows the carrier to add 70 more large regional jets to its fleet if it simultaneously adds 88 100-120 seat planes to be flown by mainline pilots. (This mirrors a deal struck by Delta's pilots a while back.)
As long as Kirby sticks by his insistence that United Airlinescan't operate these smaller mainline planeseconomically, the pilots aren't likely to let the carrier add more large regional jets. This could leave United at a permanent disadvantage in its new small-city markets.
Just looking at coastal international gateway hubs, United Continental has a higher profit margin than either of its rivals. Its margin disadvantage stems solely from its mid-continent connecting hubs being less efficient, according to management.
Unfortunately, catching up won't be nearly as straightforward as management has implied. First, United's hubs will never be as dominant as those of American and Delta. In Chicago -- United's No. 1 hub in terms of daily departures -- the carrier competes directly with a sizable American Airlines hub. In Houston, United operates an average of 482 daily departures, competing with American's nearby Dallas-Fort Worth hub, which has 762 daily departures.
United's only regionally dominant hub is in Denver. But with 375 daily departures, it doesn't come close to the scale of the largest American Airlines and Delta Air Lines hubs.
Delta has superior hubs compared to United Airlines. Image source: Delta Air Lines.
Second, United Continental's plan assumes that American Airlines and Delta Air Lines will cut capacity in markets where United is growing. Otherwise, the big uptick in capacity from United's arrival would cause fares to plunge.
However, given that this is a zero-sum game -- United has been forthright that it hopes to regain market share from its competitors -- it would be more logical for Delta and American to maintain, or even increase, their capacity in small cities. This would allow them to either protect unit revenue (by offering more frequent flights), or reduce unit costs (by using larger planes).
During 2018, much of United Continental's capacity growth will come on international routes and flights to Hawaii. This should reduce the risk of a domestic market-share battle with Delta Air Lines and American Airlines.
However, if United goes ahead with its growth plans for 2019 and 2020, its rivals are likely to respond in kind. That could lead to further margin contraction for all three legacy carriers. But United Continental is starting with the lowest profit margin, so it would be the worst-off of the bunch.
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Adam Levine-Weinbergowns shares of Delta Air Lines. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy. || Yen Weaker Despite Strong Q3 GDP from Japan, US Nonfarm Payrolls Awaited: Investing.com The yen held weaker despite stronger than expected growth figures from Japan as the dollar continued in demand as US tax cuts appear closer to passage and the market waits for nonfarm payroll data.
Japan reported third quarter GDP jumped 0.6%, compared with a 0.4% gain expectedon quarterand at a 2.5% pace, compared with a 1.5% rise seenon year. As well,average cash earningsrose 0.6%, missing the 0.8% gain seen on year.
USD/JPY rose 0.12% to 113.23, while AUD/USD fell 0.03% to 0.7508. GBP/USd traded at 1.3460, down 0.10% on prospects for another meeting of EU leadership and British PM Theresa May on Friday over Brexit details.
Later in China, trade data is expected to show a USD 35 billion surplus with imports up 11.3% and exports up 5.0% for November on year.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, rose 0.06% to 93.81.
Overnight, the dollar rose against a basket of major currencies on Thursday as upbeat labor market data, spurred expectations for a solid nonfarm payrolls report due Friday.
The {{ecl-294|s| number of individuals who filed for unemployment insurance}} for the week ended Dec 2. fell by 4,000 to 236,000, beating expectations for a drop of just 2,000.
The update on initial jobless claims comes a day ahead of nonfarm payrolls data expected to show the US economy created 200,000 jobs in November.
Market participants remained optimistic that November nonfarm payrolls data will continue to rebound following a slump in September in the wake of hurricane-related disasters.
The yen, meanwhile, reversed gains against the greenback as investor focus shifted from Bank of Japan governor Haruhiko Kuroda's somewhat hawkish comments toward signs of progress on US tax reform.
Kuroda said Thursday that changes in the country’s economy and financial system could force the bank to raise its yield targets, fuelling expectations that the central bank may start to consider reining its ultra-loose monetary policy measures.
GBP/USD rose as investors continued to bet that the Irish border issue, which has stalled Brexit talks so far, would be resolved soon, paving the way for UK-EU negotiations on several important factors including a trade deal.
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Bitcoin Remains Close to Record Highs as Rival Bitcoin Cash Sheds 7% || USD/JPY Fundamental Daily Forecast – Will Turn Bullish Over 113.241, Will Remain Bearish Under 112.782: The Dollar/Yen is posting a slight gain on Tuesday as investors continued to react to the possibility of the U.S. tax reform bill becoming law before Christmas. Investors seemed to be ignoring the mixed trade in the stock market. Weaker equity markets tend to send investors into the safety of the Japanese Yen. At 2028 GMT, the USD/JPY is trading 112.738, up 0.2120 or +0.19%. Daily USD/JPY There was no follow-through to the downside earlier today after yesterday’s potentially bearish closing price reversal top chart pattern. The main trend is down according to the daily swing chart, however, momentum has been trending higher since the 110.836 low on November 27. A trade through 113.083 will indicate the buying is getting stronger. This move will also negate the closing price reversal top. Taking out 112.358 will confirm the reversal chart pattern and could lead to the start of another sell-off. The main range is 107.312 to 114.728. Its retracement zone at 111.020 to 110.145 stopped the selling last week at 110.836. This zone is controlling the longer-term direction of the USD/JPY. The short-term range is 114.728 to 110.836. Its retracement zone at 112.782 to 113.241 stopped the rally on Monday at 113.083. Since the main trend is down, sellers are coming in at 112.782 to 113.241 to defend the trend. They are trying to form a potentially bearish secondary lower top. This will be a bearish signal. Aggressive countertrend buyers are trying to take out 113.241 in an effort to solidify the importance of the main bottom at 110.836 and to take another shot at resuming the recent rally with a breakout over 114.728. In economic news, the U.S. Trade Balance widened to -48.7 billion, up from -44.9 billion last month and higher than the -46.2 billion forecast. Final Services PMI was 54.5, lower than the forecast and previous read. The major ISM Non-Manufacturing PMI was 57.4, well below the 59.2 estimate and 60.1 previous read. This article was originally posted on FX Empire More From FXEMPIRE: Brexit Weighs on the Pound Bitcoin Nears $12,000, Sets Another Record High How to Buy Bitcoin in the U.S? Oil Price Fundamental Daily Forecast – Hedge Funds Could Trigger Sharp Liquidation-Driven Reversal USD/JPY Fundamental Daily Forecast – Will Turn Bullish Over 113.241, Will Remain Bearish Under 112.782 Gold Price Prediction for December 6, 2017 || Bitcoin is a 'dangerous speculative bubble,' Yale expert says: With the price of bitcoin (Exchange: BTC=) moving toward $12,000, a top economist on Tuesday sent a stark warning to investors: The cryptocurrency is in a "dangerous speculative bubble." "This is a toxic concept for investors," said Stephen Roach, Yale University senior fellow and the former Asia chairman and chief economist at investment bank Morgan Stanley. Roach, described by Yale as one of Wall Street's most influential economists, spent the bulk of his 30-year career at Morgan Stanley heading up a highly regarded team of economists around the world. He had a critical take on the explosion of buying the world's most popular cryptocurrency. "This is a dangerous speculative bubble by any shadow or stretch of the imagination," he told CNBC's "The Rundown." "I've never seen a chart of a security where the price really has a vertical pattern to it. And bitcoin is the most vertical of any pattern I've ever seen in my career," he added.
Bitcoin has surged more than 1,000 percent this year, accelerated by rising interest from retail and institutional investors who view the digital currency as a possible future means of exchange and store of value. Major exchanges like the CME and CBOE have also legitimized the currency's investment credentials by saying they plan to introduce futures contracts to their respective exchanges, likely further supporting the price. Roach suggested that exchange legitimization makes bitcoin "somewhat dangerous" for investors, given what he described as a "lack of intrinsic underlying economic value to the concept." Many investors admit to not understanding the technicalities of the instrument or the blockchain technology that underpins its existence, hoping instead to profit on the expectation that bitcoin as an investment will simply continue to rise. "Like all bubbles, they burst," Roach said. "They go down, and the one who's made the last investment gets hurt the most, there's no question about it."More From CNBC
• 80% of Wall Street economists, strategists believe bitcoin is a bubble: Survey
• Tom Lee: Young people will drive bitcoin gains just as boomers boosted stocks
• Activision shares to get a boost from Overwatch, Diablo sequels, Goldman says
[Random Sample of Social Media Buzz (last 60 days)]
Bitcoin’e yeni rakip: Petro geliyor https://goo.gl/fb/pRKQZn || Bitcoin is decentralized cryptocurrency using p2p protocol, wth are you talking about ?!?!! || Tiffany Haddishちゃんが || bitcoin priceってゆうか、 || bitcoin priceってゆうか、 || Tiffany Haddishちゃんが || @paullinator I know you are hero material bro! Will match any donation you make to building schools or wells for those who truly need it. #bitcoin for good pic.twitter.com/83ElpMmjs4 || Tiffany Haddishちゃんが || Vcs are known for their risk taking ability. Y u no invest in btc? Happy to learn || Tiffany Haddishちゃんが
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Trend: down || Prices: 9170.54, 8830.75, 9174.91, 8277.01, 6955.27, 7754.00, 7621.30, 8265.59, 8736.98, 8621.90
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2015-11-30]
BTC Price: 377.32, BTC RSI: 66.26
Gold Price: 1065.80, Gold RSI: 34.32
Oil Price: 41.65, Oil RSI: 42.73
[Random Sample of News (last 60 days)]
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 || Bitcoin Takes A Hit In Australia: Bitcoin has gained popularity across the globe in recent years, but concerns about safety have kept the cryptocurrency from becoming a mainstream means of payment. For that reason, banks in Australia have begun to move away from cryptocurrency, deciding last month to close the accounts of 13 of the continent's 17 bitcoin exchanges. The decision has had a ripple effect on the bitcoin industry in Australia as more and more businesses similarly turn their backs on digital currencies. Bye-Bye Bitcoin In Australia, many businesses began accepting bitcoin payments when the coin gained popularity. As the digital payments trend expanded, some firms hoped to use bitcoin in order to tap into a greater pool of potential clients and make it easier for international customers to pay. However, the nation's banks' decision to shut bitcoin exchanges out has led many Australian firms to rethink their decisions. Many worry that the banks are only the beginning of a backlash against cryptocurrencies, and that by participating in the trend they could tarnish their reputations. Related Link: Bitcoin Gains Deeper Foothold In Latin America Through MercadoLibre Big Blow To Cryptocurrencies Although cryptocurrencies are still receiving a lot of positive attention in places like Europe and the US, the changing attitude in Australia could put a dent in the industry's momentum. Australia makes up around 7 percent of bitcoin's $3.5 billion global value, a significant portion. Not only will a negative attitude toward bitcoin affect the Australian market, but it could spread further afield. Some worry that the negative reputation could eventually influence the opinions of consumers and lawmakers in other countries as well. See more from Benzinga Small Businesses Turn To Online Lenders As California's Drought Drags On, Winners And Losers Emerge Is Europe Recovering Or Not? © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments || Jamie Dimon thinks bitcoin is doomed—but here’s what he does like about it: Jamie Dimon doesn't think highly of this whole bitcoin thing. Bitcoin might be the hottest topic in financial technology, but Jamie Dimon isn’t impressed. “It’s just not going to happen…there is no government that is going to put up with it for long,” the CEO of JPMorgan Chase said about virtual currency at the Fortune Global Forum yesterday (Nov. 4), adding: “It’s kind of cute now, a lot of senators and congressmen will say ‘I support Silicon Valley innovation,’ But there will be no currency that gets around government controls.” ExxonMobil faces a New York investigation into whether it hid the risks of climate change The “blockchain” technology that makes bitcoin possible, on the other hand, could be a potential game changer, Dimon admitted. JPMorgan and 22 other major banks have recently partnered with R3, a blockchain startup, to study blockchain technology and possibility of idea of a shared, private ledger. Blockchain is essentially a shared database where people can exchange information—as well as virtual currencies like bitcoin, stock certificates, contract agreements, and even securities. For something like sending money across borders, using blockchain technology can make the process much faster and cheaper. “If it is cheaper, effective, works, and secure, then we are going to use it,” said Dimon. The IRS and the Commodities Futures Trading Commission (CFTC) both consider bitcoin a commodity , instead of a currency—essentially a piece of property you pay taxes on. Yet, more recently, government agencies outside the US have been more receptive of bitcoin as a currency, and not taxable. Sign up for the Quartz Daily Brief , our free daily newsletter with the world’s most important and interesting news. More stories from Quartz: A nuclear war between India and Pakistan is a very real possibility Explore the complicated network of allies and enemies in Syria’s civil war || 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 organised 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) || 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.
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• 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. || Hired-gun hacking played key role in JPMorgan, Fidelity breaches: By Jim Finkle and Joseph Menn
NEW YORK/SAN FRANCISCO (Reuters) - When U.S. prosecutors this week charged two Israelis and an American fugitive with raking in hundreds of millions of dollars in one of the largest and most complex cases of cyber fraud ever exposed, they also provided an unusual look into the burgeoning industry of criminal hackers for hire.
The trio, who are accused of orchestrating massive computer breaches at JPMorgan Chase & Co (JPM.N) and other financial firms, as well as a series of other major offences, did little if any hacking themselves, the federal indictments and a previous civil case brought by the U.S. Securities and Exchange Commission indicate.
Rather, they constructed a criminal conglomerate with activities ranging from pump-and-dump stock fraud to Internet casino break-ins and unlicensed Bitcoin trading. And just like many legitimate corporations, they outsourced much of their technology needs.
"They clearly had to recruit co-conspirators and have that type of hacker-for-hire," said Austin Berglas, former assistant special agent in charge of the FBI's New York cyber division, who worked the JPMorgan case before he left the agency in May. "This is the first case where it's that clear of a connection." Berglas, who now heads cyber investigations for private firm K2 Intelligence, said additional major cases of freelance hacking will come to light, especially as more people become familiar with online tools such as Tor that seek to conceal a user’s identity and location.
RENTED TIME
This week's indictments accused a hacker referred to as "co-conspirator 1" of installing malicious software on the servers of multiple victims at the direction of Gery Shalon, the alleged mastermind of the scheme now under arrest in Israel. A second indictment charges a man referred to as John Doe, believed to be in Russia, for an attack on online trading firm E*Trade (ETFC.O).
Officials have not said if the co-conspirator and John Doe were the same person, or even if the FBI knows their true identities.
Law enforcement and computer security officials say that outsourced cyber-crime services - including rented time on networks of previously compromised personal computers and custom break-ins - are most readily found on underground Russian-language computer forums, where skilled attackers advertise their services.
The forums are tight-knit communities where newbies must be vouched for by multiple known members and pay membership fees that cost thousands of dollars, said Daniel Cohen, who oversees an undercover team at EMC Corp's (EMC.N) RSA Security that monitors the forums.
“You can find anything you want for an operation. Hackers, servers, software, code writing. They are all available," said Cohen. Individuals hide their identities even from each other, making infiltration and arrests rare.
In this case, the ringleaders are accused of hiring hackers to steal contact information and other data that they then used to help convince ordinary investors to buy little-regulated stocks. Prosecutors have not disclosed how the hackers were compensated.
Fees vary greatly in the cyber underground, depending on the complexity of the assignment and supply of talent available to do a particular job. Elite hackers who pull off the most technically challenging attacks might get a percentage of profits, while others might earn an hourly rate or get paid a few thousand dollars for winning access to a target’s network, researchers said.PUMP-AND-DUMP
All three of those accused this week - Shalon, Joshua Samuel Aaron, who is at large, and Ziv Orenstein, who is also in jail in Israel – began promoting penny stocks before the hacks took place, according to U.S. government claims.
They used websites including Pennystockdiscoveries.com and Stockcastle.com to send emails as part of a scheme in which they invested in penny stocks, spread false information to boost their prices, and then sold them to make windfall profits, according to an SEC suit filed in July.
Orenstein’s lawyer declined to comment, and Shalon’s lawyer did not return messages seeking comment.
In one case in early 2012, the SEC claims that they used the website Stockcastle.com to promote shares in Mustang Alliances Inc, reaping $2.2 million, the largest pump-and-dump cited in the regulator's lawsuit. In March of that year, the British Virgin Islands Financial Services Commission issued an alert warning that two entities tied to Stockcastle were falsely claiming to be registered in the territory. That same year, the enterprise began a massive hacking spree to get contact information for investors who might be good targets, according to prosecutors. By the end of 2013 they had ordered up six hacks that provided data on tens of millions of customers, prosecutors said.
They hit the mother lode in 2014 when they attacked three other firms, and stole data on 83 million customers from JP Morgan alone, prosecutors said.
In addition to JP Morgan and E*Trade, the firms attacked included the mutual fund giant Fidelity Investments, Scottrade, TD Ameritrade Holding Corp (AMTD.N) and News Corp's (NWSA.O) Dow Jones unit, the publisher of the Wall Street Journal, according to court documents and people familiar with the cases.
"To do a 'pump-and-dump' operation, you no longer need 30 people behind phones in a strip mall," said Shane Shook, a security consultant specializing in investigating financial breaches. All you need is to find a hacker on a “Dark Web” forum to provide addresses from customers of financial services firms like Fidelity or JPMorgan, then hire a spam service to push out promotional emails, he said.
Shalon bragged about the stock manipulation scheme, telling the hacker known as co-conspirator 1 in a web chat message that it was "a small step towards a large empire," according to the indictment.
His plan, Shalon told the hacker, was to distribute "mailers" on stocks to those customers. The hacker asked if buying stocks was popular in America, the indictment said, prompting Shalon to reply: "It's like drinking freaking vodka in Russia."
Shalon ultimately made good on his promise to build an empire, according to the indictments. Profits from the pump-and-dump fed into a sprawling conglomerate including offshore Internet casinos and payment-processing services for other criminal operators, such as counterfeit pharmaceutical makers. Shalon also allegedly directed hackers to attack rival casinos, stealing customer data and temporarily bringing down their websites with denial-of-service attacks, which are easily commissioned online.BUTTERFLY AND HIDDEN LYNX
While this week's indictments opened the first major criminal case involving outsourced hacking, there have been other substantial break-ins that researchers believe were contract jobs.
Researchers at Symantec in July attributed a series of precision breaches at Apple, Facebook, Microsoft and Twitter in 2012 and 2013 to a sophisticated gang called Butterfly, which also attacked law firms and pharmaceutical companies.
Computer security firm Symantec concluded that the group likely works for hire, either for a client looking for financial gain in the stock market or for competitors. How Butterfly gets hired remains unclear.
Tech criminologist Marc Goodman, author of the book “Future Crimes”, says another group, dubbed Hidden Lynx by Symantec, may consist of contractors moonlighting from jobs with the Chinese military.http://www.symantec.com/content/en/us/enterprise/media/security_response/whitepapers/hidden_lynx.pdf"It's crime as a service," "Goodman said. "They take all the pain out of it."
(Reporting by Joseph Menn in San Francisco and Jim Finkle and Nate Raymond in New York; Additional reporting from Maayan Lubell in Jerusalem; Editing by Jonathan Weber and Martin Howell.) || 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. Were 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 || Caribbean's Next Top Model Set for Season 2 Premiere: MIAMI, FL--(Marketwired - Oct 15, 2015) - On October 19, young women from all over the Caribbean will begin chasing their dreams of success as career models, when the second season of Caribbean's Next Top Model (CNTM) makes its premiere on Flow TV. Cable and Wireless, which operates both the Flow and LIME brand, is the premium sponsor for the show's sophomore season, which will run for 11 episodes, starting on October 19.
The Caribbean reality show is based on the successful original production -- America's Next Top Model. This regional program follows the stories of young women seeking to launch a career in the competitive world of modelling, and is produced and presented by Wendy Fitzwilliam, a former Miss Universe, successful model and entrepreneur.
"We are extremely excited to be partnering with Wendy Fitzwilliam and her Caribbean's Next Top Model team," said John Reid, President of the C&W Communications, Consumer Group. "We are not just committed, but we are also proud to support Caribbean producers who generate quality local content for the region." Reid also noted that customers now have more options to access the exciting regional programme across multiple platforms, including their TV and other smart devices, where the mobile option was available. Customers in Jamaica, Trinidad, Barbados, Cayman, and Curacao will also be able to access the show at their convenience using Flow's Video on Demand (VOD) feature. Aside from the many viewing options, Flow customers, will also be able to participate in other exciting promotions including weekly SMS competition to win a new iPad, tablet, or other great prizes.
Commenting on the partnership, Fitzwilliam said, "It is so refreshing when a corporate entity recognises the need for support and undertakes the responsibility of enabling the development of Caribbean talent and content -- Flow has definitely got it right. With Flow you get more -- CNTM's fans will get a wholesome entertainment experience, one that is as interactive and engaging as possible. With Flow's quad play technology, viewers can truly enjoy the upcoming season to the fullest extent."
Caribbean Next Top Model will be broadcast simultaneously on the Flow TV platform across the region on Monday nights from October 19 at 7:30 p.m. in Curacao, Jamaica, Cayman Islands and at 8:30 p.m. -- in Trinidad, Jamaica, Barbados, St. Vincent and the Grenadines, Grenada, St. Lucia, Antigua and Barbuda and The Bahamas. As the season unfolds, each CNTM episode will first air on Flow TV and will then air on other stations, five days after the initial Flow airing.
Season Two of Caribbean's Next Top Model will premiere with a star-studded fashion event at the Betsy Hotel on South Beach, Miami on October 19.
About C&W 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 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 programs.
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. || In taking economic war to Islamic State, U.S. developing new tools: By Yeganeh Torbati and Brett Wolf WASHINGTON (Reuters) - Since last month, U.S. warplanes have struck Islamic State's oil infrastructure in Syria in a stepped-up campaign of economic warfare that the United States estimates has cut the group's black-market earnings from oil by about a third. In finding their targets, U.S. military planners have relied in part on an unconventional source of intelligence: access to banking records that provide insight into which refineries and oil pumps are generating cash for the extremist group, current and former officials say. The intent is to choke off the Islamic State's funding by tracking its remaining ties to the global financial system. By identifying money flowing to and from the group, U.S. officials have been able to get a glimpse into how its black-market economy operates, people with knowledge of the effort have said. That in turn has influenced decisions about targeting for air strikes in an effort that began before Islamic State's Nov. 13 attacks on Paris and has intensified since, they said. While Islamic State's access to formal banking has been restricted, it retains some ties that U.S. military and financial officials can use against it, the current and former officials said. "We have done a really good job of largely keeping the Islamic State out of the formal financial system," said Matthew Levitt, who served as deputy assistant secretary for intelligence at the U.S. Treasury in the George W. Bush administration. "But we haven't been entirely successful, and that may not be a bad thing." Reuters was unable to verify key aspects of the campaign, including when it started or exactly which facilities have been destroyed as a result. Two current officials who confirmed the operations in outline declined to comment on their details. It was unclear how U.S. intelligence, Treasury, and military officials working on what the government calls "counter threat finance" operations have used banking records to identify lucrative Islamic State oil-related targets in Syria and whether that involved local banks. A report this year by the intergovernmental Financial Action Task Force found there were more than 20 Syrian financial institutions with operations in Islamic State territory. In Iraq, Treasury has worked with government officials to cut off bank branches in the group's territory from the Iraqi and international financial systems. Gerald Roberts, section chief of the FBI's terrorist financing operations section, said that Islamic State's recruits from outside Syria often come with financial trails that officials tracking them can "exploit." "We are seeing them using traditional banking systems," he said at a banking conference last week in Washington, adding that young, tech-savvy Islamic State members are also familiar with virtual currencies such as Bitcoin. Islamic State, also known as IS, ISIS or ISIL, is sometimes forced to use commercial banks because the amounts involved are too large to move using other means, said Levitt. The U.S. Treasury's Financial Crimes Enforcement Network (FinCEN) uses a set of "business rules" to screen the roughly 55,000 reports it receives daily from financial institutions for signs of activity involving Islamic State, a spokesman said. He declined to describe the rules, but law enforcement sources say names, IP addresses, email addresses, and phone numbers are among the data that intelligence authorities try to match. The matches allow FinCEN "to connect the dots between seemingly unrelated individuals and entities," the FinCEN spokesman said. At present, FinCEN finds about 1,200 matches suggesting possible Islamic State-linked financial activity each month, up from 800 in April, the spokesman said. Bank of America, JP Morgan and Wells Fargo declined to comment on whether they provided financial reports to the U.S. government. Such reports are supplied confidentially. Citigroup, HSBC, and Standard Chartered did not immediately respond to requests for comment. "TIDAL WAVE II" The use of financial records linked to Islamic State is only one part of the intelligence-gathering exercise for air strikes in Syria that also includes methods such as aerial surveillance by drones, officials said. One former military official familiar with the process said that any financial intelligence collected by FinCEN would require "significant vetting" before the military acted on it. Earlier this month, U.S.-led coalition planes struck 116 fuel trucks used to smuggle Islamic State oil 45 minutes after dropping leaflets warning drivers to flee, a Pentagon spokesman said. Coalition strikes destroyed another 283 Islamic State fuel trucks on Saturday, the Pentagon said. On Nov. 8, a coalition air strike destroyed three oil refineries in Syria near the border with Turkey. U.S. defense officials estimate that Islamic State, an adversary the United States calls the wealthiest terrorist group of its kind in history, was earning about $47 million per month from oil sales prior to October. That month, the U.S. military launched an intensified effort to go after oil infrastructure, dubbed "Tidal Wave II," named after the bombing campaign targeting Romanian oil fields in World War Two. The Pentagon estimates the strikes have reduced the Islamic State's income from oil sales by about 30 percent, one U.S. defense official with knowledge of the previously unreported estimate said. Reuters was unable to confirm this. The use of financial records in helping to pick U.S. targets was first disclosed last week at the banking conference in Washington. At the conference, Kurt Gredzinski, the Counter Threat Finance Team Chief at U.S. Special Operations Command, cited the importance of information provided by banks in the war against Islamic State. "That to me is the first time in my recollection that we strategically targeted based on threat finance information," he said at the conference. He declined to comment further on which strike he had been referring to. "RESILIENT FINANCIAL PORTFOLIO" U.S. officials believe that diminished funding could gradually undermine Islamic State's grip on the area it controls in Iraq and Syria, because it needs revenue to pay salaries and keep public infrastructure operating, said two former officials with knowledge of the Obama administration's thinking. Experts caution that Islamic State, which rules an area the size of Austria, has surprisingly deep pockets due to the various revenue streams it controls. It has built up what amounts to a "durable and resilient financial portfolio," funded by oil sales, extortion, and sales of antiquities, said Thomas Sanderson, an expert on terrorism at the Center for Strategic and International Studies. "Money can be strapped to the backs of mules," Sanderson said. "It's easy to move things across a border during a time of deprivation and chaos." Despite some initial success, cutting off its funding will require deeper cooperation from governments from Turkey to Russia, experts say. The group has shown the ability to bounce back from previous U.S. strikes on its oil facilities. Counter-terrorism experts say that Islamic State appears to have learned from U.S. successes in cracking down on funding for al-Qaeda, which relied heavily on support from wealthy donors in the Gulf region. "IS has learned that you don't want to be reliant on too many outside sources," said Sanderson. "Donors are fickle and subject to pressure and (IS) wants to be in control." (Reporting by Yeganeh Torbati in Washington and Brett Wolf of Thomson Reuters Regulatory Intelligence. Additional reporting by Joel Schectman, Warren Strobel, and Jonathan Landay in Washington.; Editing by Kevin Krolicki and Stuart Grudgings) || 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. Story continues 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 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 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 .
[Random Sample of Social Media Buzz (last 60 days)]
$472.99 at 17:45 UTC [24h Range: $372.53 - $502.00 Volume: 92495 BTC] || $331.88 at 06:45 UTC [24h Range: $325.00 - $340.00 Volume: 27251 BTC] || One Bitcoin now worth $325.00@bitstamp. High $344.78. Low $294.00. Market Cap $4.820 Billion #bitcoin || $328.71 at 20:15 UTC [24h Range: $315.00 - $332.20 Volume: 29873 BTC] via #btcusdpic.twitter.com/3wf34c43zf || #RDD / #BTC on the exchanges:
Cryptsy: 0.00000002
Bittrex: 0.00000002
Average $6.0E-6 per #reddcoin
23:00:00 || 1 #BTC (#Bitcoin) quotes:
$380.39/$380.83 #Bitstamp
$371.58/$372.00 #BTCe
⇢$-9.25/$-8.39
$381.85/$381.86 #Coinbase
⇢$1.02/$1.47 || LIVE: Profit = $48.78 (1.00 %). BUY B14.47 @ $336.17 (#BTCe). SELL @ $338.20 (#HitBTC) #bitcoin #btc - … pic.twitter.com/CbLx9e1IKU || 1 #BTC (#Bitcoin) quotes:
$351.61/$351.90 #Bitstamp
$340.90/$342.34 #BTCe
⇢$-11.00/$-9.27
$352.22/$352.37 #Coinbase
⇢$0.32/$0.76 || $328.00 at 08:31 UTC [24h Range: $322.12 - $344.78 Volume: 29380 BTC] via #btcusdpic.twitter.com/7fnER9BcYC || 1 #BTC (#Bitcoin) quotes:
$323.94/$324.29 #Bitstamp
$313.00/$313.37 #BTCe
⇢$-11.29/$-10.57
$327.42/$327.48 #Coinbase
⇢$3.13/$3.54
|
Trend: up || Prices: 362.49, 359.19, 361.05, 363.18, 388.95, 388.78, 395.54, 415.56, 417.56, 415.48
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2020-12-28]
BTC Price: 27084.81, BTC RSI: 78.69
Gold Price: 1877.20, Gold RSI: 54.78
Oil Price: 47.62, Oil RSI: 60.13
[Random Sample of News (last 60 days)]
Bitcoin eyes all-time high after recent bull run: Bitcoin has rallied almost 150% so far in 2020. Photo: Ozan Kose/AFP via Getty Images Bitcoin ( BTC-USD ) is back in a big way in 2020. The cryptocurrency has rallied almost 150% so far this year, including a gain of 70% over the last few weeks. Bitcoin is now at its highest level against the dollar in three years and analysts are starting to wonder if it could reach new all-time highs. The door is still wide open for the digital currency to challenge its all-time, said Naeem Aslam, chief market analyst at Avatrade. Bitcoin's 2020 tear. Photo: Yahoo Finance UK Bitcoin reached a record high of $19,783.06 (£14,946.40) on 1 January 2017 just before the bubble burst and the price rapidly fell back to trade near $3,500. Since then, bitcoin has struggled to hold above $10,000 that is, until this year. The cryptocurrency began creeping higher over the summer before rapidly rising from October onwards. On Wednesday, the cryptocurrency briefly rose above $18,000 for the first time since 2017. The bull run has caught many analysts by surprise. Whats remarkable this time is the lack of hype around Bitcoin, said Neil Wilson, chief market analyst at Markets.com. READ MORE: Pound dips as European leaders 'demand EU ramps up no-deal Brexit plans' Media coverage and Google searches are nowhere near levels seen in 2016 and 2017 when bitcoin prices rapidly spiralled higher. The ongoing COVID-19 pandemic has likely helped fuel at least some of the rally. Many evangelists argue bitcoin is a safe haven asset akin to gold. JP Morgan ( JPM ) said in a note last month there is a generational divide, with millennials preferring bitcoin and older investors opting for gold. Still, the majority of bitcoins gains have come in the last few weeks even as positive vaccine news has emerged. Mati Greenspan, founder of Quantum Economics, which specialises in cryptoassets, said bitcoin was being supported by more mainstream adoption. Increasingly large players are entering this tiny market, he said. Square founder and chief executive Jack Dorsey. Photo: US Senate Judiciary Committee via Reuters Square ( SQ ), Jack Dorseys payment company, invested $50m in bitcoin in October. The company has let people buy crypto through its Cash app since 2018 and Square said earlier this month that 80% of Cashs third quarter revenue came from bitcoin trading. Story continues We've seen this dynamic play out in 2017 with the retail market, said Greenspan. When everybody is buying and nobody is selling, it doesn't take a lot of volume to push the price higher. PayPal ( PYPL ) recently backed bitcoin too. At the start of October, the company said it would allow customers to buy and hold crypto through its app. JP Morgan called the endorsement a big step for the market. And traditional financial players are increasingly getting in on the market. Hedge fund manager Paul Tudor Jones bought bitcoin in May as a hedge against inflation , one of the highest-profile endorsements from a traditional money manager. Watch: Why can't governments just print more money? READ MORE: AstraZeneca/Oxford vaccine shows 'strong immune response' in all ages While a lot of scepticism still surrounds cryptocurrencies, some in the investment community appear to have warmed to them, said Michael Hewson, chief market analyst at CMC Markets. In combination, these factors have helped put bitcoin on a tear. The bull run could well continue into 2021 although if 2017 is anything to go by, prices could crash rapidly once bitcoin peaks. The price fell on Thursday morning down 2.6% to $17,399 but the all-time high remains in sight. Bitcoin is clearly overbought across most short- and medium-term timeframes, so a brief pullback is likely soon, but the worlds oldest cryptocurrency has closed exactly three days above the current price near $18,000, so theres little in the way of overhead resistance to prevent new all-time highs this year, said Matt Weller, global head of market research at GAIN Capital. WATCH: What does a Joe Biden presidency mean for the global economy? || USDCAD Analysis: Escape from the Bearish Trap Coming Soon: While investors betting on the US Dollar were cheering the come-back of the US Dollar, DXY is dropping again, though remains above a significant support level of 92.273.
There are no important announcements expected from Canada, while the US will report on CB Consumer Confidence as per November later today, and must-watch data on GDP, Initial Jobless Claims, New home sales and Crude Oil inventories. The reason why I mentioned Crude oil inventories in this analysis is because the Canadian Dollar is very dependent on the Oil price as Canada is the fourth largest oil exporter.
USDCADcontinues the correction after a substantial growth on November 9. The pair is consolidating between $1.30900 and $1.30494.
On a 4-Hour chartUSD/CADhas formed a bullish flag pattern, breakout from which will signal a bullish continuation. However, as RSI indicator shows there is also another pattern to watch – bearish rectangle, which if confirmed will signal the decline of USD/CAD down to $1.29812. See the chart below. The bearishness of Dollar/Canadian is also endorsed by Moving averages, both simple moving averages of 100 and 200 and an Exponential MA 50 are above the current quote.The US Dollar is losing against the Canadian dollar since March 2020 and continues the downtrend forming a descending triangle, each forthcoming high is lower than the previous and the forthcoming low is lower than the previous. As seen on a daily chart of the pair, there is a possible another low which should be tested by the pair, before the USD could show strength and breakout from the downtrend.
Since the support of $1.30494 remains intact (there is no closing below it), USD/CAD has all chances to take a chance and jump towards $1.32000 and $1.23400. Fibonacci levels on a 4-Hour chart demonstrate the importance of the aforesaid support level, if the pair closes below $1.30494 there is another support level to watch, which will be in the area of Fibo 0.618 of the November 9 uptrend and a dynamic support of the flag pattern. Only when USD/CAD closes above $1.31000 it will proceed further towards $1.32000.
Bullish continuation of the pair may be backed by the strong US data tomorrow, New Home sales as per October are expected to be at 970K, which is 11K higher than in September, initial Jobless Claims is expected to continue the decline and be 730K, which is 12K lower than the previously announced 740K, and the GDP data might strengthen the US Dollar. Another important update to watch tomorrow is FOMC meeting minutes of course.
For a look at all of today’s economic events, check out oureconomic calendar.
Thisarticlewas originally posted on FX Empire
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• Will the Bitcoin Rally last? || Seychelles, Longtime Home of BitMEX, Is Bending to US Pressure on KYC: The Takeaway: Out of a list of 26 crypto exchanges domiciled in the Republic of Seychelles, approximately half have poor know-your-customer (KYC) procedures, according to blockchain tracking firm CipherTrace. Analysis of certain Seychelles-based exchanges reveals the proportion of funds flowing to and from “high risk” sources and dark marketplaces. In an interview with CoinDesk, the Seychelles Financial Services Authority acknowledged that the U.S. crackdown on crypto derivatives exchange BitMEX in October was a “blowup” for the island. A former FinCEN compliance and enforcement director expects more actions from authorities investigating the Seychelles jurisdiction. This is the first part of a two-part series. Read the second part here . When it comes to island-hopping crypto exchanges with relaxed know-your-customer (KYC) procedures, Seychelles-domiciled BitMEX, whose senior execs were issued with arrest warrants in October , could be just the tip of the iceberg. Places like the Republic of Seychelles, an archipelago off the coast of East Africa (population: 96,762), can be attractive to firms because of favorable tax treatment and ease of governance when setting up foundations. Related: Self-Hosted Bitcoin Wallets Become Front Line in Fight Over Crypto Regulations Many such jurisdictions are trying to reinvent themselves to adapt to new economic realities. Perhaps they want to be the next fintech or crypto hub and are experimenting with sandboxes and the like. Of course, some aspiring crypto centers may be more cautious than others. This often depends on the type of services already provided. Malta, for instance, already caters to a number of investment firms, while a jurisdiction like Luxembourg has a well-established financial services sector. Things start to go awry when an enforcement action like the one against BitMEX happens. In this case, the Seychelles bore the brunt of some headline-grabbing evidence that investigators had gathered, namely BitMEX’s former CEO, Arthur Hayes saying it would cost just “a coconut” to bribe Seychellois authorities. Story continues It’s a point that remains contested by the Seychelles Financial Services Authority (FSA). “When we saw that comment, we as a jurisdiction and as an authority did seek clarification and an explanation about what was said,” FSA chief Steve Fanny told CoinDesk in an interview. Related: US Treasury Bulking Up Crypto Policy Advisers as Wallet Reg Rumors Swirl Fanny claims the comment has been misconstrued. “It can be construed as if Seychelles is very relaxed and you can buy your way. Or it could be construed as there was a sarcastic comment that gentleman made while under attack,” he said. In any case, such an event is bound to bring further scrutiny. Definitely there’s going to be a tightening up now because this was a big blowup for the Seychelles. CipherTrace, which works with exchanges and also has contracts with public authorities, has been conducting ongoing research into how crypto exchanges handle their KYC and anti-money laundering (AML) responsibilities. CipherTrace employs a two-pronged approach. Assessing KYC on-boarding involves the straightforward legwork of setting up accounts at exchanges. KYC onboarding assessment is complemented by AML analytics, also called “know your transaction” (KYT). This is done by moving funds around the system, a kind of crypto mystery shopping, and identifying how much is linked to “high risk” sources. A combination of KYC legwork and KYT analysis yields a risk score for each exchange. A green score means the company’s KYC can pass muster with regulators. Yellow could mean the exchange’s KYC is “porous,” so perhaps its KYC doesn’t kick in unless a transaction is higher than some nominal amount. A firm might also be graded yellow if it has begun stringent KYC, but only for new customers. Red is weak, which generally means a user can carry on with little more than a valid email address. The number of weak KYC exchanges domiciled in Seychelles (at least 12 with poor scores) is a cause for concern, especially in light of the BitMEX arrests, said CipherTrace CEO Dave Jevans. “When it comes to these companies that are domiciled in Seychelles, is the government worried?” Jevans said. “I mean, it’s not a good look.” Enforcement avalanche There’s no doubt the BitMEX enforcement action has shaken up the jurisdiction. “Definitely there’s going to be a tightening up now because this [BitMEX] was a big blowup for the Seychelles,” said Alison Elizabeth, the head of the FSA’s Regulatory Sandbox . “The central bank and the Financial Intelligence Unit, together with the FSA legal teams, are making decisions concerning what’s going to happen next.” Like many jurisdictions around the world, Seychelles has been implementing the AML recommendations of the Financial Action Task Force (FATF), a global anti-money laundering watchdog. This has prompted an upgrade of Seychelles regulation. A new AML/CFT Act and Beneficial Ownership Act were introduced in March 2020. FSA chief Fanny said that from early January 2021, firms in Seychelles will have to meet FATF requirements around KYC, AML and auditing, and there will be more fintech legislation introduced in March. Many large companies chose to set up operations from the Seychelles, Fanny said, but there were “also a lot of small companies and at one time we were not capturing all of these.” There’s a chance this was only the first pebble in an avalanche. FSA has a leadership team of 15 covering subsections like fiduciary, insurance, capital markets and gambling (interestingly, there isn’t a section on the website for crypto exchanges). There are around 360 regulated entities listed on the FSA website. Fanny added that if Seychelles authorities have “good reason,” firms can be struck off the FSA register. “As a jurisdiction, we want to attract the best businesses. If you don’t want to be properly regulated, move somewhere else,” he said. Long time coming The BitMEX enforcement action shouldn’t come as any surprise, said Gregory C. Lisa, a partner at the law firm Hogan Lovells in Washington, D.C. “Seychelles is one of those jurisdictions that’s had a good share of law enforcement and regulatory scrutiny,” said Lisa. “There has been a growing concern about regulatory arbitrage, certainly with U.S. regulators.” During a virtual event hosted by CoinDesk in October, Heath Tarbert, outgoing chairman of the Commodity Futures Trading Commission (CFTC), hinted that the next BitMEX was coming. An investigation like the one into BitMEX is usually not a one-off, said Lisa, a former compliance and enforcement director at the Financial Crimes Enforcement Network (FinCEN). Law enforcement, regulators and prosecutors get familiar with the space, which takes time, he said. Investigators learn about money flows, often employing forensic analysis companies like CipherTrace, Chainalyis, Elliptic and others, and begin to see patterns emerging out of that jurisdiction. “There’s a chance this was only the first pebble in an avalanche,” said Lisa. BitMEX The BitMEX enforcement didn’t come out of the blue. The exchange had reportedly been under investigation by the CFTC since at least July 2019, and had responded by implementing mandatory KYC in April of this year. Since the charges were brought , BitMEX hired Malcolm Wright as chief compliance officer of 100x Group, the holding structure for the BitMEX platform. Wright is the current Chair of the Advisory Council and Co-Lead of the AML Working Group at Global Digital Finance, and former CCO at Diginex as well as Revolut. Regarding the tightening up of BitMEX’s KYC, the firm’s user verification program has been accelerated, said Wright. “All users were required to verify by Nov. 5 in order to continue trading on our platform,” Wright told CoinDesk via email. “Until verified, no user could open a new position or increase an existing position. Whilst unverified, users could not receive or accrue affiliate payouts.” From Dec. 4 , any users that had not completed verification became unable to withdraw funds. Funds will be recoverable from user accounts and withdrawals will be processed normally after verification, Wright added. As a result of these concerted efforts, BitMEX was recently upgraded from yellow to green KYC score by CipherTrace. Looking back, CipherTrace data shows how BitMEX’s fund flows have evolved over time and, as such, have skewed more towards opaque sources. Going back a couple of years, money flowing into the exchange was coming from other exchanges including Poloniex and Binance, but a high proportion now flows in and out of private wallets held outside the reach of regulated exchanges. “If you compare [previous years with] last year’s analysis, it was mostly private wallets,” said CipherTrace CEO Jevans. “So over time it has migrated from exchanges to people using private wallets to try and hide the provenance of their funds. This is one of the things they [BitMEX] were really pushing.” Wright said the BitMEX platform screens for bitcoin provenance using a leading independent blockchain analytics provider, while suspicious transaction reports (STRs) are filed with the Seychelles FSA when there are doubts as to the legitimacy of any transfers. “The use of private wallets across the crypto industry has become more prevalent for a variety of legitimate reasons,” Wright said, “not least as an extra line of defense against potential hacks.” The CipherTrace MO After opening an account at an exchange, CipherTrace discovers the thresholds for how much money can be moved about without doing significant KYC. To build up a picture of fund flows, CipherTrace circulates crypto around a network of what it considers to be high- and low-risk exchanges and also dark marketplaces. “We move money to dark markets, we pay into ransomware and engage in commerce of all types,” said John Jefferies, the firm’s lead financial analyst. “We’re able to create between 3 million and 4 million pieces of attribution data per week. Then we use a combination of machine learning and predictive analytics and clustering techniques to associate wallets with different entities, and follow the flow of funds around the internet.” Jefferies said the CipherTrace KYC grading system is “a fairly dynamic state of affairs.” He acknowledged there is a temporal aspect to this. In other words, how long after an exchange has done an upgrade of its KYC does it take to turn from red to green? (This idea will be explored in greater detail in the second part of this investigation.) The green, yellow or red KYC scores given by CipherTrace are viewed in a “fairly binary” manner by regulators, Jefferies said. “It’s either good or demonstrably bad,” he said. “What we would call yellow and red, they would simply call bad.” Peer-to-peer In recent years a hotspot for blockchain analytics firms has been peer-to-peer exchanges, where funds are typically held in escrow ahead of a transaction between two counterparties. This approach naturally involves less in the way of centralized overbearance, and in some cases this has also meant little or no KYC. (It’s worth restating the fact that crypto was originally designed this way.) At any rate, this situation is changing, at least when it comes to well-known players like LocalBitcoins and Paxful, which have been working to improve their KYC/AML procedures. Seychelles also has its fair share of P2P exchange activity and CipherTrace has highlighted some of this. Remitano, cited below, does a lot of business in places like Vietnam, Nigeria and Malaysia, and scores a green KYC rating, according to CipherTrace. However, analysis of the platform’s trading activity shows how funds are flowing to and from high-risk exchanges. In Remitano’s case, some 5.99%, or approximately $34.5 million, of funds was received from high-risk exchanges, while 24.5%, or about $76.5 million, was sent to high-risk exchanges. Large exchanges that act as third-party custodians typically have more control over the funds that flow out than the funds that may flow in. (San Francisco-based Coinbase, for comparison, received 2.3% from high-risk sources in the past year, but only sent 0.29% out to high-risk destinations.) “You can also see in the last year that [Remitano] is sending and receiving funds from some very high-risk exchanges,” said Jevans of CipherTrace. A Remitano representative told CoinDesk via email that the exchange was considering whether to move its base away from Seychelles. “We are not sure if Seychelles would like to cut ties with [our] business due to the BitMEX situation or not, but we received a clarification information request about our business activities in the last couple of months,” said the Remitano representative. “We are still working closely with our service agency to make sure we are in good standing. We also are planning to move to a crypto-friendly country, but for now no decision has been made.” In terms of handling incoming flows from the darknet, illicit sources and high-yield investment products, Remitano said it is partnering with TRM, the analytics provider backed by PayPal among others. “Our product team is still working on the integration,” Remitano said. “We have already implemented many filters to secure our user funds and prevent the fund flow from bad sources. Our screening team may request some additional details before he/she is able to continue to trade on our platform.” CoinDesk reached out to all the firms listed by CipherTrace, but only a few replies came back. Lo Chia Ching, head of marketing for AEX, which scored a red KYC from CipherTrace, said that in order to trade fiat a user has to share a photo ID, and that for transactions over 5,000 Chinese yuan ($765) the user is required to complete the KYC process in the form of a video. “Users can trade tokens without full KYC, but must perform KYC before swapping for fiat. KYC involves a China ID card, for example, which can be photographed, or the user can make a video,” Lo Chia said via Telegram. “Users can’t use the [over-the-counter] function until KYC has been completed.” Mark Lamb, CEO of CoinFlex, which was graded by CipherTrace as having weak KYC, said his firm’s procedures meet the same measure as regulatory frameworks in Europe and many other places. “If transactions are above a certain level, more regulation is stacked on top,” Lamb said. “Do you think we just pulled this out of our asses?” Related Stories Seychelles, Longtime Home of BitMEX, Is Bending to US Pressure on KYC Seychelles, Longtime Home of BitMEX, Is Bending to US Pressure on KYC || Bitcoin Indicator Suggests Bull Market Is Still in Early Phase: Bitcoin has plenty of scope to extend its current rally, a price indicator suggests, even as the cryptocurrency is fast closing in on the record high near $20,000 set three years ago.
With prices rising by 80% to levelsabove $18,000in the past six weeks, the cryptocurrency’sMayer Multiple– the ratio of price to the 200-day moving average – has risen to a 16-month high of 1.67. However, the metric is still well short of the 2.4 threshold that has historically signaled the final leg of the bull markets.
The Mayer Multiple flashed similar values aroundbitcoin‘s second mining reward halving in July 2016. Back then, bitcoin was trading at $650 and went on to hit highs near $20,000 in December 2017.
Related:Vijay Boyapati’s Four Mental Models for Valuing Bitcoin
The ratio rose above 2.4 on Dec. 1, 2017, following which bitcoin doubled in value to $20,000 in just two weeks before falling back to $12,000 on Dec. 22. Similar price action was observed in April and November 2013 after the ratio rose above 2.4. Bitcoin also topped out at $13,880 at the end of June 2019 with theratio risingabove 2.4.
With the Mayer indicator currently hovering at 1.67, bitcoin appears to be in the early stages of the bull market, with plenty of room to extend the rally from the low of $3,867 seen since mid-March.
According to Nischal Shetty, CEO of Mumbai-based crypto exchange WazirX, bitcoin is replicating price moves seen following previous halvings – four-yearly reductions in the rewards for miners. The cryptocurrencyunderwentits third halving on May 11, when prices were around $8,600.
While the recent sharp rise from $10,000 looks similar to the surge from $6,000 to $20,000 seen in November-December 2017, this time may be different.Institutionsappear to have been the primary drivers of the latest rally, while the one seen three years ago was driven by speculative frenzy and panic buying by retail investors.
Related:Bitcoin’s Rally Could Be Caused by a Supply Crunch in China
Google Trends, a barometer used to gauge retail interest in trending topics, is currently returning a value of 13 for the worldwide search query “bitcoin price.” That’s significantly lower than the value of 93 observed in early December 2017.
That’s a likely sign thatFOMOhas yet to take hold of the market. Retail investors are usually the last to join a rally. As such, increased retail participation is widely considered a sign of an asset nearing a major top.
Read more:HODL FOMO vs. Speculative FOMO: Why This Bitcoin Bull Market Will Be Different
The Google search data appears to validate the Mayer Multiple’s signal that the market is not yet “euphoric” and the ongoing rally has legs.
WazirX’s Shetty expects retail investors to jump in once prices rise above $20,000.
At press time, bitcoin is changing hands near $18,030, representing a 150% year-to-date gain, according toThe CoinDesk 20.
Disclosure: The author holds small positions in bitcoin and litecoin.
• Bitcoin Indicator Suggests Bull Market Is Still in Early Phase
• Bitcoin Indicator Suggests Bull Market Is Still in Early Phase || Bitcoin hits highest level since Jan. 2018 amid post-election volatility: By Anna Irrera LONDON (Reuters) - Bitcoin's price rose to more than $14,900 on Thursday, its highest level since January 2018, amid volatility caused by the U.S. election and investor hopes that more central bank stimulus to support economies hit by the COVID-19 pandemic will push up the value of digital assets. The biggest cryptocurrency has surged more than 10% since the day of the presidential election, with Democrat Joe Biden edging closer to victory over President Donald Trump. Bitcoin was last trading 5.4% higher at $14,930. World tech stocks and bond markets also extended their rally on Thursday. "Bitcoin is the big winner from the current macro environment" said Anthony Pompliano, a co-founder and partner at cryptocurrency investment firm Morgan Creek Digital Assets. "As we saw coming out of the 2008 liquidity crisis, inflation hedge assets do very well when the Fed steps in with QE." The Bank of England added 150 billion pounds ($195.20 billion) to its asset purchase programme on Thursday, and the Federal Reserve is expected to signal later that it will do whatever it can to help the U.S. economy. Bitcoin has been on an upswing over the past few weeks, after digital payments company PayPal Holdings Inc <PYPL.O> announced it would enable purchases with virtual coins on its platform. The news bolstered long-standing expectations that bitcoin and its rivals could become a more viable form of payment, a goal that has been elusive. HOPES PINNED ON FURTHER PRICE INCREASES Bitcoin investors and enthusiasts are also pinning their hopes of further price increases on more clarity from global financial regulators on rules for cryptocurrencies and increased adoption by mainstream finance firms. "The once dismissed asset is now acknowledged by traditional finance," said Dave Chapman, a Hong Kong-based executive director at OSL, a cryptocurrency brokerage. "It's not going away, and it has now been afforded the regulatory clarity from regulators, globally." Story continues Blistering rallies are not uncommon in cryptocurrencies, and are generally followed by equally steep crashes, with many experts at a loss to identify a clear cause for changes of direction. The price of bitcoin soared to more than $20,000 in December 2017 and crashed 50% the following month. "Bitcoin doesn't go up or down for macroeconomic reasons, like QE or real investor decisions," said David Gerard, a cryptocurrency expert and author of recent book on Facebook-led virtual coin Libra. "The market is thin and manipulated, and every price change is fully explained by internal market issues." (Reporting by Anna Irrera, Editing by Timothy Heritage) || Bitcoin breaks above $20,000 for first time: LONDON, Dec 16 (Reuters) - Bitcoin smashed through $20,000 for the first time on Wednesday, its highest ever.
The cryptocurrency jumped 4.5% to move as high as $20,440.
Bitcoin has gained more than 170% this year, buoyed by demand from larger investors attracted to its potential for quick gains, purported inflation-resistant qualities, and expectations it will become a mainstream payment method. (Reporting by Thyagaraju Adinarayan, editing by Karin Strohecker) || Where Art Thou Bitcoin ETF?: Last week, the SEC loosened rules around leveraged and inverse ETFs, sometimes referred to as “currency kerosene” for their reputation of making money go up in smoke quickly. Some saw this as an opportunity to rein in these controversial financial products, rather than to let them ride.
From Lara Crigger’s ETF.com report:
“… (SEC)passed a controversial new rulethat, among other things, would make it significantly easier to launchleveragedandinverseexchange-traded funds, but at smaller multipliers than previously approved. Rule 18f-4 would allow ETFs and other funds that aren't explicitly allowed by the Investment Company Act of 1940 to use derivatives, without first having to obtain exemptive relief. New ETF launches may now apply up to a 200% multiplier, either long or inverse, on their underlying indexes.”
New launches of these sorts won’t require SEC blessing on an individual basis to use derivatives for leveraged and inverse exposure, which should ease the approval process. However, the days of new 3X leveraged or inverse ETFs are over, with 2X being the cap going forward, a tip of the hat perhaps to lessening the potential losses these can create.
Despite also gutting the requirement of presale education to investors who decide to play with this type of fire, I have no problem with allowing these alternative securities to come to market. They require investor caution, but they could also deliver stellar returns in a very short period of time.
I use this as a backdrop to the ongoing bitcoin ETF saga. It’s been dragging though the seemingly lenient SEC when it comes to risky products like leveraged and inverse ETFs, but it’s been steadfastly opposed to allowing bitcoin in an ETF wrapper.
All this got me thinking, what is going on with bitcoin ETFs? Certainly no one has thrown in the towel after all this effort:
Key Bitcoin ETF Dates:
* Winklevoss:Filed July 1, 2013; Disapproved March 10, 2017* SolidX (with VanEck later):Filed July 12, 2016; Withdrawn Jan. 23, 2019* Grayscale: Filed July 11, 2017:Withdrawn Oct. 25, 2017* ProShares: Filed Sept. 27, 2017:Disapproved Aug. 22, 2018; Stayed Aug. 23, 2018* Direxion: Filed Dec. 15, 2017:Disapproved Aug. 22, 2018; Stayed Aug. 23, 2018* GraniteShares: Filed Dec. 15, 2017:Disapproved Aug. 22, 2018; Stayed Aug. 23, 2018* Wilshire Phoenix: Filed Jan. 11, 2019:Disapproved Feb. 25, 2020* Bitwise: Filed Jan. 10, 2019:Disapproved Oct. 9, 2019; Stayed Oct. 15, 2019, Withdrawn Jan. 14, 2020
More Than 7 Years Ago
The early forays into trying to launch a bitcoin ETF were certainly far ahead of the SEC’s curve of understanding—and most people’s understanding—of cryptocurrencies. But along the way, there hasn’t been any obvious progress in the SEC’s willingness to allow bitcoin ETFs.
With a market cap currently approaching $200 billion, and hundreds of millions of dollars a day in futures trading, bitcoin has come a long way since that first bitcoin filing in 2013. The SEC, however, not so much.
Some say the SEC has been growing more comfortable with the idea of a bitcoin ETF, and that one should come sooner rather than later. Matt Hougan, chief investment officer of Bitwise, a digital asset manager that just crossed $100 million in assets under management, is in that camp. He has been on the frontlines of this effort, as his firm tries to launch a bitcoin ETF. I caught up with Hougan to talk about this challenge:
ETF.com: Are there any bitcoin ETFs still alive in the SEC pipeline filing world?
Matt Hougan:There are no live filings for ETFs for crypto ETFs, and specifically for a bitcoin ETF at this time. There are a number of filings that received disapproval orders from the SEC staff, which were then appealed by commissioners and are currently sort of sitting on appeal. But there's no requirement or expectation for the commissioners to review those and move those along.
So the short answer to your question is, no, there are no live filings that I'm aware of at this time. The slightly nuanced answer is, a few filings, but disapproval orders have been sort of appealed and stayed. But they're not, that I know of, making forward progress right now.
ETF.com: Why was there this full-frontal assault on trying to get bitcoin ETFs through the SEC, but then it just completely went away. What’s going on?
Hougan:The reality is there's been sort of two waves of effort around bitcoin ETFs. There was the Winklevosses’ first shot in 2013, and then there were a number of serious follow-on efforts in the 2017/2018 era, whether that's Bitwise or VanEck or Wilshire Phoenix. And those are the ones that received the public disapproval orders.
What the industry saw in those public disapproval orders is that the SEC, rightfully so, is setting a pretty high bar that bitcoin ETFs have to clear on factors like market manipulation and custody audit. So what I’m seeing is that people realize there's a lot of work to be done.
Certainly that's happening behind the scenes at Bitwise, and I assume what's happening behind the scenes at our competitors, is that people are doing that work. But I think it was just clarity that there was significant work still to be done before you could even take a shot on goal.
ETF.com: How long does it take for the market to prove itself rather than you trying to prove that the market's safe?
Hougan:If we backpedal to like 2013 when the first ETF filings were in, we were far on one side of a wide spectrum spanning from a grassroots, anarchic, unregulated market, to its long-term future as a well-regulated piece of the global financial ecosystem. As an example, there were no regulated insured custodians in the market at that time. Full stop.
Today you have firms like Fidelity that have insurance from Lloyd's of London that are offering custody for bitcoin under New York State specialized trust charters. You have the New York Stock Exchange setting up a bitcoin custodian that, again, operates under that same regulatory structure and also has insurance in place. You have the Coinbase company which is now an $8 billion company. They also have insurance in place and they're also regulated.
In 2013, the market was not prepared to support an ETF that should be available to all investors. There were no well-established trading venues. There was no regulated market at all. There were still a lot of really bad actors. Things have vastly improved.
People like me will argue that we're well along that path, and that the Bitcoin market, as it stands today, is actually a well-functioning market supported by regulated markets like the CME when it comes to futures. But the SEC is fully within its rights to say "prove it." Because it's not like we're coming from a place that's entirely well-established and clean and a well-arbitraged market with clear regulations in place. We're evolving to that space.
ETF.com: There seems to be demand there. How do you quantify that?
Hougan:Bitwise has a full sales team that calls on thousands of advisors a month. And so we hear from them directly. They would like an ETF that allows them to buy and sell bitcoin at net asset value and that fits into their workflow. And they want to do it because there's client demand, and currently those clients are doing it themselves on Coinbase. There are more Coinbase accounts than there are Charles Schwab accounts. So it would be great to bring bitcoin inside that advised setting.
You can see there's demand. I hear from people who say, “We don't need a bitcoin ETF.” Their argument is that there are plenty of ways to buy bitcoin today. [On Oct. 21, 2020,] PayPal said it was going to make it possible for people to buy Bitcoin through the PayPal app. That's great, but it doesn't solve the problem for financial advisors who need a regulated product that fits into their workflow. And the only real, robust answer for that is an ETF. I think eventually we'll get there.
ETF.com: What's eventually? A year? Five?
Hougan:I hope it's fewer than five years. I think the best estimate is somewhere between 12 and 36 months out. I know it's a wide window, but people have been cracking on this thing since 2013, and there's still some road to go. I do think it's a matter ofwhenand notif.
PayPal's a $250 billion company. It has 350 million users, 200 million in the U.S. It's got 26 million merchants who are going to be able to accept crypto. If you have a company of that size that embraces crypto and endorses it and allows it to live in a regulated setting for a huge number of clients, it gets a step further.
The Time Has Come
It’s hard to knock the SEC for being overly cautious in allowing bitcoin to enter the capital markets as a listed and regulated security. But that many-years grace period and bitcoin’s continued success as a financial product have made the steadfast rejection by regulators seem out of step with change.
Currently, bitcoin trades around $13,500, and as the bitcoin price chart below shows, price volatility has cooled considerably. Take away March’s financial market meltdown that impacted all securities, and bitcoin pricing looks relatively rangebound.
(For a larger view, click on the image above)
One reason for that is a futures market in bitcoin that keeps price discovery honest in theory and apparently in practical terms as well.
Trading volume has also been stable, adding another positive piece to the stability puzzle.
(For a larger view, click on the image above)
A report this month by Wilshire Phoenix, a firm that’s also looking for a SEC bitcoin ETF blessing, adds credence to the idea a futures market in bitcoin is legitimizing its status as a trading vehicle every day.
“The findings of Wilshire Phoenix indicate that CME Bitcoin Futures contribute more to price discovery than its related spot markets,” said an Oct. 14reportfrom Wilshire Phoenix, adding: “A leading futures market suggests the existence of a robust base of traders who may trade on such markets for many reasons such as trust in the exchange venue and lower latency.”
Trading in bitcoin futures rivals those of some currency.
“There are 85 institutions holding open positions in Bitcoin futures; this represents a similar number versus other CME futures in major currency markets such as the Swiss Franc, US Dollar Index, and Fed Funds,” Wilshire Phoenix partner and report co-author Alexander Chang told Cointelegraph.
The longer time marches on without the SEC’s approval, the more likely investors will wander into less transparent and less regulated arenas to buy and sell bitcoin. The last seven years have seen the maturation necessary in both bitcoin and in underlying markets to warrant a bitcoin ETF.
To disallow it, the SEC comes across like Juliet’s unreasonable father forbidding her to love Romeo, clinging simply to the old rules of a changing world.
Drew Voros can be reached [email protected]
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Permalink| © Copyright 2020ETF.com.All rights reserved || Damon Nam is Disrupting the Blockchain Industry with Emerging FinTech Company, Coin.: New York, NY, Nov. 06, 2020 (GLOBE NEWSWIRE) -- (via Blockchain Wire ) If you’ve been looking into the Blockchain, Cryptocurrency, and Decentralized Finance (DeFI) movement for more than five minutes, you’ve probably run into the name Damon Nam. Damon is a 20 year IT professional, Microsoft alumnus, entrepreneur, and currently the Founder and CEO of Coin ; an emerging financial services and technology company. During his 17 year tenure at Microsoft, he assumed a number of different roles within the Microsoft Services organization. In his last role at Microsoft as a US Services Program Director, he was responsible for driving and managing Microsoft’s entire partner program for the US subsidiary; a program with approximately seventy-five partner organizations and a total book of business of over $90 million in revenue. With a great deal of business and information technology services experience under his belt, Damon, who has had years of interest in blockchain technology, decided it was time to put his particular talents to the task of tackling the problems in the traditional financial services industry. To that end, he founded Coin , a US-based FinTech startup. Today’s financial solutions, centralized banking entities, and devaluing dollars from continuous money printing by governments across the world, have sparked a renewed interest in sovereign wealth management for consumers. This has resulted in a large demand for an open financial system driven by blockchain technology and alternative assets such as Bitcoin. While innovative, the complex nature of today’s solutions in the blockchain industry has created a dynamic that eliminates a large percentage of the population that seeks to join the revolution. Damon and his team at Coin want to completely democratize this industry and bring it to the masses by creating a paradigm shift that makes wealth management for digital assets seamless, simple, affordable, and accessible. Thereby, also reducing the wealth gaps that exist in our society and creating equal opportunity and a level playing field across the world. Damon’s goal is to develop solutions that reduce the complexities and pitfalls of the world’s traditional financial system and its inherent problems of high costs and risks that stem from corruption, human involvement, and custody of customer funds. Coin XYZ, Inc. develops blockchain solutions to empower the world to execute secure financial transactions with freedom and simplicity. Coin is led by a team of Microsoft veterans including Byron Levels, and prominent advisors such as Christina Apatow, founder of FetchyFox, Jeremy Gardner, founder of Augur, Alex Mashinsky, founder of Celsius Network, as well as Pete Cashmore, founder of Mashable. For more information about Coin, please visit https://coindefi.org Story continues Coin is staying the course and creating this new reality for all of us. They have architected a decentralized network that contains products and services that work cohesively together to solve these problems and empower consumers to manage their wealth. So what’s the platform that is going to disrupt the financial and blockchain industries might you ask? The Coin Exchange, an all-in-one cross-chain P2P decentralized cryptocurrency wallet, exchange, and assistant powered by atomic swap and artificial intelligence (AI) technology. Coin Exchange includes an integrated cryptocurrency wallet for users to store popular digital assets such as Bitcoin, Ethereum, and more. For exchanging assets, Coin Exchange leverages atomic swaps which replace the need for any third party involvement. This ensures low fees and is the most secure method of transferring value, as transactions occur directly between users, on the blockchain. This also makes Coin Exchange non-susceptible to hacks as users are the only custodians that can access their funds and no personal data is collected or centrally stored. The Coin Exchange also includes browser extension support for the Internet’s most popular web browsers such as Google Chrome and Safari. When installed, this feature extends its capability by using AI technology to execute transactions faster and provide insights to help users save time and money. Similar to Grammarly’s grammar recognition, Coin Exchange includes an assistant that can recognize blockchain-related keywords from any webpage. This allows Coin to provide education, insights, or help consumers execute financial transactions directly from any webpage with an input field. For example, users can send, receive and exchange transactions in a guided process or simply by typing text commands such as “Send $50 Bitcoin to @cryptojane” in any input field on the Internet. What is currently considered a complex task, can now be completed in a matter of seconds while browsing the web. Unlike other solutions in the financial/blockchain industry today, the Coin Exchange brings a fresh innovative user experience to an industry filled with complexity and confusion. For example, instead of requiring users to navigate and login to their banking website or app, Coin’s AI works behind-the-scenes and seamlessly merges personal finance into the natural workflows of our daily activities on the Internet including browsing the web, creating documents, and updating social media. “By leveraging emerging technology, we are placing the power back into the hands of the people, and empowering consumers to manage their wealth with an innovative digital assets experience that is simple, secure, and personalized,” says Damon Nam, founder and CEO at Coin. The Coin Exchange creates a seamless, unified experience while browsing the Internet to help bridge the gap and bring cryptocurrencies to the masses. The shift to sovereign wealth management has already begun… Damon and his all-star team at Coin aspire to become the industry-leading financial organization that leads the charge to disrupt the norm. https://coindefi.org CONTACT: Contact: Damon Nam CEO Coin [email protected] || 5 Best Roth IRAs for Your Investments: A Roth IRA just might be the only true "free lunch" available for investors. The Roth IRA is an individual retirement account that allows you to deposit after-tax money, invest it and then withdraw the funds during retirement. As the money grows and compounds within the account, you don't pay any additional taxes on the dividends or capital gains. Roth IRA owners can choose their own investments, from typical stocks, bonds and funds to alternative assets such as real estate, gold and even Bitcoin. Most financial institutions offer Roth IRAs with a variety of investments. [ READ: Sign up for stock news with our Invested newsletter. ] There are IRS limitations to contribution amounts and withdrawals, but if eligible, there's every reason to select and open one of the best Roth IRAs. Investors can choose the right Roth IRA for their needs from among the typical financial firms -- such as Schwab, Fidelity or Vanguard -- or select a robo advisor, like Betterment or Wealthfront. Those who prefer access to nontraditional assets might also opt for a self-directed Roth IRA LLC with "checkbook control." Here are five of the best Roth IRAs for your investments: -- Vanguard -- TD Ameritrade -- Betterment -- AltoIRA -- M1 Finance Vanguard A Vanguard Roth IRA is offered from the firm best known for initiating the index fund and offering low-fee investments. Dejan Ilijevski, president of Sabela Capital Markets, suggests the Vanguard Roth IRA for do-it-yourself investors who are comfortable with managing their own portfolios. He cautions that this self-directed account requires investors to choose their own assets and have the discipline to rebalance when necessary. "Minimizing costs should be among your first priorities," Ilijevski says. Because Vanguard's mutual fund and exchange-traded fund costs are rock-bottom, more of your money goes directly into the investment markets. Vanguard charges a $20 annual management fee for the Roth IRA, but there are many ways to waive that charge. Sign up for e-delivery of documents or hold more than $50,000 in Vanguard assets, and the fee is eliminated. Story continues [ Read: Best Vanguard Bond Funds to Buy. ] TD Ameritrade Another major financial investment firm, TD Ameritrade has many awards -- including No. 1 overall broker in the StockBrokers.com 2020 Online Broker Review. The firm recently merged with Charles Schwab, but any changes to TD Ameritrade accounts due to the merger shouldn't occur for several years. Craig Kirsner, president at Stuart Estate Planning Wealth Advisors, recommends TD Ameritrade for its award-winning customer service, research tools, investment research and options trading platform. Self-directed investors have access to all the services they might need to manage their Roth IRA. Another bonus for the TD Ameritrade Roth IRA is that there are no account management fees. Also, like most online financial firms, there are no commissions or other fees for online trading. Betterment This premier robo advisor offers Roth IRAs for its customers. The benefits of using a digital investment advisor for a Roth IRA is that investors have access to top-notch portfolio management with fees substantially lower than those of traditional financial advisors. The Betterment Digital platform charges 0.25% of assets under management and includes investment portfolios in line with your goals and risk tolerance. Users also have access to a la carte financial advice packages for specific issues, such as retirement planning or a simple financial checkup. All investors have texting access to financial planners. AltoIRA This firm is unique as it enables investors to use their Roth IRAs to invest in alternative assets such as cryptocurrency , private real estate, startups, venture funds and more, says Tara Fung, AltoIRA's chief revenue officer. Alternative assets can also soften the blow of market volatility and provide a hedge against declining asset prices due to a weakening economy, Fung adds. AltoIRA's goal is to provide access to assets that are typically out of reach for average investors. The firm wants to give investors the same opportunities as institutional, high-net-worth and venture capital investors. The AltoIRA fee schedule is transparent. Accounts worth up to $10,000 pay just $5 per month. The monthly fee increases to a maximum of $30 for accounts worth more than $100,000. Transaction fees are pricey -- given that clients are investing in less liquid assets -- and range from free for trades up to $5,000 to $150 for transactions more than $50,000. [ See: Top Robinhood Stocks to Buy That Analysts Also Love ] M1 Finance M1 Finance is a newer breed of online financial firms. The company began as an online investment manager offering the ability to pick and choose investments or select from pre-made investment portfolios. One draw of this firm is that your investments are rebalanced automatically back to your preferred asset allocation. The M1 Finance Roth IRA is free, with zero management fees or trading commissions. You can choose from approximately 6,000 stocks or funds to craft your own investment portfolio. The smart transfer feature allows you to invest, spend or save for distinct goals as well as keep the Roth IRA fully funded, says Brian Barnes, CEO of M1 Finance. This automation helps ensure that your retirement investing is taken care of. For sophisticated investors, a downside might be that the platform lacks access to individual bonds, closed-end funds , preferred stocks and other niche assets. Takeaway: The Best Roth IRAs There are many IRA providers from which to choose. Before opening an account, consider the features of the provider, its fees and access. Some investors prefer to keep all their investments with the same firm. All the firms discussed, except AltoIRA, offer access to high-yield cash accounts or money market funds as well. Regardless of which financial firm you select, opening a Roth IRA is a smart financial move for retirement saving. Disclosure: The author holds accounts at Vanguard, TD Ameritrade and M1 Finance. || First Mover: Vaccine Won’t Come Fast Enough to Avoid More Stimulus: Bitcoin was higher, climbing back above $16,000 on Monday after dipping below the mark over the weekend.
“Should we trade back above $16,490, then we expect to see the bulls take the market by the horns and drive prices to a $17,000 handle,” Matt Blom, head of sales and trading at the cryptocurrency financial firm Diginex, told clients in an email. “If we remain capped by $16,490. then we look for another period of consolidation.”
Intraditional markets, European and Asian shares rose and U.S. futures pointed to a higher open as a coronavirus vaccine from Moderna was shown to be 95% effective in a preliminary analysis. Gold strengthened 0.2% to $1,892 an ounce.
Related:As DeFi Grows, Investors Look to Polkadot to Be the Next Ethereum
Progress in developing a vaccinemay not come soon enough to avoid a third wave of the coronavirus that dents consumer spirits during the crucial holiday shopping season – along with confidence in an economic recovery.
That might mean morepain for retailers, already ailing from the lockdowns earlier this year, while reinforcing the need for new multi-trillion dollar spending packages to provide aid to businesses and households. The dynamic could bolster demand for bitcoin, seen by a growing number of investors in both digital-asset and traditional markets as a hedge against inflation.
“All indications are that a package will still be required to prop the U.S. economy up,” Simon Peters, an analyst for the cryptocurrency-inclusive trading platform eToro. “Withbitcoinincreasingly cementing its status as an effective inflation hedge and huge amounts of liquidity set to be pumped into Main Street U.S.A., that could be another catalyst to finally take the world’s most popular crypto asset past $17,500.”
Although markets were buoyed last week by news of success in developing a vaccine, broad distribution of the inoculations isn’t expected for several months.Predictionsby White House coronavirus adviser Anthony Fauci that cases would tick up with the arrival of winter in the Northern Hemisphere – when people spend more time indoors – appear to be playing out.
Related:Market Wrap: Bitcoin Ascends to $16.8K; Uniswap and Tether 35% of Ethereum Transactions
According to theCovid Tracking Project, U.S. hospitalizations have surged to a record of about 70,000, with daily deaths now around 1,100, the highest since May.
“With the numbers worsening by day, we expect all measures of consumers’ sentiment to deteriorate over the next couple months, at least,” Pantheon Chief Economist Ian Shepherdson wrote in a report.
A report late last week from the University of Michigan showed U.S. consumer sentiment unexpectedly fell this month to a reading of 77, well below economists’ forecast for an 82.
The decline was driven by falling economic expectations among President Donald Trump’s Republican Party members, following projections that he lost his reelection bid, according to Pantheon.
But the real damper on consumer confidence could come from the resurgence in coronavirus cases around the world. Japan faces mounting pressure to reimpose a state of emergency and South Korea is warning that it’s at a “critical crossroads,” according to Reuters. The U.S. states of Michigan and Wisconsin on Sunday imposed new restrictions on public gatherings, including halting indoor restaurant service, the news servicereported.
“Significant and in our opinion under-appreciated economic damage resulting from this latest swell is possible without a meaningful fiscal relief package from Congress,” the brokerage firm Raymond James wrote in a report.
Projected President-elect Joe Biden is expected to speak Monday to outline a strategy for economic recovery. According toBloomberg News, the plan is expected to rely heavily on a campaign proposal for $2 trillion of government spending, including provisions for clean energy, infrasturcture and jobs stimulus.
“The U.S. economy is heavily reliant on consumer spending, and if surging Covid-19 cases dent confidence significantly going into the holiday season, it could have ramifications for the pace of economic recovery,” eToro’s Peters wrote.
– Bradley Keoun
Bitcoin is on the offensive, having rallied for six straight weeks. The cryptocurrency is currently trading above $16,200, having consistently found demand below $16,000 over the weekend.
The long-term bullish case has probably strengthened with the global stockpile of negative-yielding bonds hitting a fresh record high of $17.5 trillion this month. The number has more than doubled in the past eight months.
The sharp rise is the result of deep interest-rate cuts by the U.S. Federal Reserve and other major central banks, as well as massive liquidity-boosting bond purchases to contain the economic fallout from the coronavirus pandemic. Analysts expect the towering stockpile of bonds yielding negative returns to boost demand for inflation-resistant assets such as bitcoin.
“The more central banks print money and push bond yields lower to contend with ongoing stress in the global economy, the more compelling the economics around bitcoin become,” Joel Kruger, strategist at LMAX Digital, told CoinDesk over Telegram.
In the short run, the cryptocurrency may face some selling pressure, as the daily chart indicators are flashing signs of bull fatigue. The MACD histogram, an indicator used to gauge trend strength and trend changes, has charted lower highs, contradicting higher highs on price. Such bearish divergences are often followed by price pullbacks.
The immediate support is seen at $15,715 (weekend low) followed by the psychological level of $15,000. Meanwhile, resistance is seen directly at $20,000.
– Omkar Godbole
Read More:Record Levels of Negative-Yielding Debt Strengthen Case for Bitcoin
Bitcoin Cash splits into two new blockchains, again (CoinDesk)
Citi analyst predicts bitcoin could pass $300K by December 2021 (CoinDesk)
Belarus bank to offer bitcoin purchases, withlitecoinandethercoming soon (CoinDesk)
Novogratz’s Galaxy Digital makes twin acquisitions in bid to strengthen institutional appeal (CoinDesk)
Bank of England deputy governor says it was not his job “to protect bank business models” from the impact of digital currencies (Reuters)
Fidelity’s crypto arm responds to 6 common bitcoin criticisms (CoinDesk)
Blockchain voting as a solution to democratic election woes are not the solution says MIT in its latest report examining blockchain e-voting (CoinDesk)
SEC Chair Jay Clayton, who led regulatory pushback against a bitcoin exchange-traded fund, plans to step down at the end of the year (SEC)
U.S. bank-consolidation race is on as Pittsburgh-based PNC agrees to buy U.S. unit of Spain’s BBVA for $11.6 billion (MarketWatch)
Nigerian inflation rate quickens to 14.2% from 13.7% a month ago, due to surging food costs caused by border closures, dollar restrictions and banditry attacks (Bloomberg)
Australia’s stock exchange stopped trade 20 minutes after opening on Monday due to market-data issues; trading expected to resume Tuesday (Reuters)
Korean Air Lines said Monday it would purchase a $1.6 billion stake in ailing and indebted Asiana Airlines, creating world’s 15th largest carrier (Reuters)
• First Mover: Vaccine Won’t Come Fast Enough to Avoid More Stimulus
• First Mover: Vaccine Won’t Come Fast Enough to Avoid More Stimulus
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 27362.44, 28840.95, 29001.72, 29374.15, 32127.27, 32782.02, 31971.91, 33992.43, 36824.36, 39371.04
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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 2017-07-13]
BTC Price: 2357.90, BTC RSI: 41.35
Gold Price: 1216.30, Gold RSI: 36.39
Oil Price: 46.08, Oil RSI: 53.21
[Random Sample of News (last 60 days)]
Bitcoin Breaks $3,000, Continuing Epic Bull Run: The cryptocurrency bitcoin has continued its stunning run-up, briefly surpassing the $3,000 threshold early Saturday afternoon.
That’s according to theCoinDeskBitcoin Price Index, though competing index CoinMarketCap calculated the peak exchange rate at just a few cents short of $3,000 (bitcoin prices vary across exchanges, so different formulas can arrive at different exchange rates.)
The new peak continues a surge that began in earnest in early May, when a bitcoin was worth nearly $1,400. And it flies in the face of a widening consensus that the cryptocurrency market is in a bubble.
Get Data Sheet,Fortune’stechnology newsletter.
That was Mark Cuban’s takelast Tuesday, but the technology’s own central figures beat him to the punch by warning about overly inflated prices from the stage at the Consensus blockchain conference in May. And when he saw disgruntled attendees turned away from the overbooked Token Summit conference,Fortune’sRobert Hackettsaw bubble written all over the bitcoin market.
Most observers, including Cuban, have by now accepted that blockchain technology, a promising innovation in data security based on shared ledgers, has huge potential for tracking assets and information in fields from supply chain management to health records. But the price of bitcoin is currently based in large part on speculation about growing adoption and innovative future applications. That’s even more true for parallel cryptocurrencies and blockchain systems like Ethereum, Dash, and Litecoin, which are mostly rising in tandem with bitcoin.
But a speculation-driven market is also an emotionally fragile market. If sentiment swings, it may swing quickly, and cause a lot of bitcon’s value to evaporate. || This high school dropout who invested in bitcoin at $12 is now a millionaire at 18: Erik Finman made a bet with his parents that if he turned 18 and was a millionaire, they wouldn't force him to go to college. Thanks to his savvy investments in bitcoin and the current all-time high valuation, he won't have to get his degree.
"I can proudly say I made it, and I'm not going to college," Finman said.
He currently owns 403 bitcoins(Exchange: BTC=-USS), which at the current $2,700 a coin puts his bitcoin value at $1.09 million. He also has smaller investments in other cryptocurrencies, including litecoin and ethereum(Exchange: ETH=).
Bitcoin is very volatile, and the value could decline rapidly. A technical analyst told CNBC he believes bitcoinwill only go up to $2,800before the value recedes, while others think it mayreach $100,000 in a decade.
Finman thinks its best days are still ahead. "Personally I think bitcoin is going to be worth a couple hundred thousand to a million dollars a coin," he said.
Bitcoin andthe blockchain technology it is built onallow people to cut out the middleman, Finman explained. For example, an open source blockchain ride-share platform would allow users to power the service on their phones using peer-to-peer technology without a central hub. It would allow the drivers to get more money by cutting overhead costs, he added. It could also create the next evolution of the internet, one which wouldn't be reliant on servers.
Finman began investing in bitcoin in May 2011 at the age of 12, thanks to a $1,000 gift from his grandmother and a tip from his brother Scott.
Though he's close with his family — which he calls the "Elon Musk version of the Kardashians" — growing up in "small town" Idaho outside of Coeur d'Alene wasn't easy. Finman was especially frustrated with his high school teachers, and begged his parents to let him drop out at 15.
"(High school) was pretty low quality," he said. "I had these teachers that were all kind of negative. One teacher told me to drop out and work at McDonald's(Tokyo Stock Exchange: 2702.T-JP)because that was all I would amount to for the rest of my life. I guess I did the dropout part."
Surprisingly, his parents — who met pursuing their Ph.D.s at Stanford — agreed. Finman sold his first bitcoin investments at the end of 2013, when they were valued at $1,200 a piece.
With the $100,000 Finman launched an online education company called Botangle in early 2014 that would allow frustrated students like him to find teachers over video chat. He also used the funds to move to Silicon Valley, did some fun things like meet Reddit co-founder Alexis Ohanian and traveled.
"I really liked Colombia," he said. "It was fun, but a little sketchy. Some interesting stuff happened. I was held up at gunpoint there, which is pretty scary, but I have this emergency button I programmed in Android that puts you on speaker but turns off audio automatically and dials [a local emergency number]."
"Maybe I'll turn that into an app," he added. "It's handy."
It was hard getting people to take a 15-year-old tech entrepreneur seriously, Finman admitted. He recalled being called in to interview with a "really, really high-up" unnamed Uber executive, who instead of listening to his Botangle pitch discouraged him and told him he would never win the bet with his parents.
Eventually he found a buyer for Botangle's technology in January 2015. The investor offered either $100,000 or 300 bitcoin, which had dropped in value at that time to a little more than $200 a coin. He took the lower cash value bitcoin deal because he believed it was "the next big thing."
"My parents asked 'Why don't you take the more cash?"' Finman explained. "But I thought of it more of an investment."
Since then, Finman has been managing his family and his own bitcoin investments. He's also kept busy on other projects,including working with NASA to launch a rocket through the ELaNa project. One thing he won't do is go back to school.
"I never got my GED, and I don't see the value in it," Finman said. "The purpose of that would be to get another education level and get a job. I had to learn through running a business. Instead of writing essays for English class, I had to write emails to important people."
Although the rest of his family has degrees — his brother Scott went to Johns Hopkins at 16 and now has an enterprise software company, while his other brother Ross went to Carnegie Melon at 16 for robotics and is now pursuing his Ph.D. at MIT — he's happy learning about the real world from experience.
"The way the education system is structured now, I wouldn't recommend it," Finman said. "It doesn't work for anyone. I would recommend the internet, which is all free. You can learn a million times more off YouTube(NASDAQ: GOOGL)and Wikipedia."
More From CNBC
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• Pandora CEO Tim Westergren plans to step down || MORGAN STANLEY: 'Bitcoin acceptance is virtually zero and shrinking': (FILE PHOTO - A Bitcoin sign is seen in a window in TorontoThomson Reuters)
Theprice of bitcoinis up over 250% since last year, but acceptance of the cryptocurrency as a form of payment among top merchants has declined.
A research note out Wednesday by a group of analysts at Morgan Stanley led by James E Faucette said "bitcoin acceptance is virtually zero and shrinking," despite its impressive appreciation.
According to the bank, last year bitcoin was accepted at five of a group of 500 top online merchants. Today, only three of those merchants accept bitcoin as a form of payment.
"The disparity between virtually no merchant acceptance and bitcoin’s rapid appreciation is striking," the analysts wrote.
The investment bank outlined three reasons for the decline in bitcoin acceptance among merchants.
The first reason has to do with the appreciation of bitcoin. Most owners of the cryptocurrency are unwilling to let go of their holdings to pay for goods because they expect the price of bitcoin to go up. This point underpins the bank's thesis thatbitcoin mainly functions as aninvestment vehiclerather than fiat currency that you could spend on goods and services.
Issues with bitcoin's scalability, which has made transactions slow and expensive, is another reason the bank thinks merchants find bitcoin unappealing as a form of payment.
Finally, there has been a lack of pressure from the people who run the bitcoin infrastructure, according to the bank, to push merchants to accept bitcoin as a form of payment.
"The ecosystem has focused more on value speculation rather than the foot leather-eating work of increasing acceptance - way easier to trade speculatively than convince new merchants to accept the cryptocurrency," the bank said.
The bank notes that, while many merchants are uninterested in accepting bitcoin as a form of payment, many find the technology that underpins the cryptocurrency as a tech they could use to improve their infrastructure.
NOW WATCH:This map reveals how much $100 is actually worth in your state
More From Business Insider
• Cryptocurrencies are continuing to fall after China's shock ICO ban
• Here's why China's crypto crackdown is 'bigger than most people think'
• There was a $20 billion cryptocurrency price correction over the weekend || Nvidia is getting a huge boost from a red-hot cryptocurrency: (The logo of Nvidia Corporation is seen during the annual Computex computer exhibition in TaipeiThomson Reuters)
Graphic processing units are used to power games, but that's not what is drivingNvidia's stockskyward right now.
Cryptocurrency mining is one of the biggest drivers to the GPU maker's shares in recent weeks. In just 11 days, about $100 million worth of GPUs were added to the Ethereum network, according to a new note from RBC Capital Markets. Nvidia's stock has climbed about 5% over that time.
"While the company is shifting its business toward Automotive and Gaming specific revenue, we note that the combined GPU business represents the majority of NVIDIA’s revenue," RBC said.
Etherum is a red-hot cryptocurrency. Its value has ballooned 4,056% this year. The value of one Ether was worth $8.07 on January 1, 2017, and is now worth around $336.41, according toethereumprice.org.The currency is worth $31.14 billion in total, which places it somewhere betweenthe market cap of 21st Century Fox and Dish Network, for reference.
Because the cryptocurrency has risen so quickly, miners are eager to get in on the action. To obtain Ether, you can either pay for it as with any other currency exchange or set up a computer to help verify payments and maintain the network. Those who help maintain the networks are known as miners, and those miners have spent millions of dollars on GPUs in the past few days to help speed up their computers and get more Ether.
To figure out the number of GPUs that were added to the cryptocurrency network, RBC looked at the speed at which payments of ether are being verified by miners, and divided the recent increase in speed by the average speed of a single GPU.
RBC measured an approximately 10 million megahash per second increase in speed over 11 days, and divided that by an average GPU speed of 30 megahashes per second to get an estimated 333,333 new GPUs. RBC estimated each of these new GPUs would sell for about $275, meaning $91.7 million has been spent on GPUs recently.
Nvidia was a more attractive GPU manufacturer to many miners because the price of its GPUs on the secondhand market was lower than those of competitor AMD. However, that has changed with the recent increase in demand, according to RBC.
Other cryptocurrencies, like Zcash and Monero, have also seen increases in mining speed on their networks, which RBC thinks is a net increase in GPUs on the network, rather than miners switching between networks.
RBC has a price target of $175 for Nvidia which is 10.4% higher than the current price. "Importantly, we think FY18 results (within Data Center and Gaming specifically) will be above expectations which could cause our forward numbers to increase in a material fashion," the firm wrote.
Nvidia's share price has surged 55.74% this year.
(Markets Insider)
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• 20 must-have tech accessories under $20
• Bitcoin storms back
• Bitcoin is tumbling || This digital currency briefly crashed from $319 to 10 cents in seconds on one exchange after multimillion dollar trade: The price of ethereum crashed as low as 10 cents from around $319 in about a second on the GDAX cryptocurrency exchange on Wednesday, a move that is being blamed on a "multimillion dollar market sell" order. Ethereum is an alternative digital currency to bitcoin and had been trading as high as $352 on Wednesday. It has since rebounded from its flash-crash lows to trade to about $325 on the GDAX exchange. According to industry and price tracking website Coinmarketcap, which takes into account the price on several exchanges, ethereum was trading around $338. Adam White, the vice president of GDAX which is run by U.S. firm Coinbase, posted on the exchange's blog, outlining what took place at around 12:30 p.m. PT on Wednesday. According to White, the multimillion dollar market sell order resulted in a number of orders being filled from $317.81 to $224.48. As the price continued to fall, another 800 stop loss orders and margin funding liquidations caused ethereum to trade as low as 10 cents. A stop loss order is a trade that is executed automatically once a security in this case ethereum hits a particular price. Margin funding is essentially trading with borrowed funds. Liquidation is when these positions are closed automatically in order to prevent further losses. The knock-on selling effect caused the flash crash on GDAX . The chart below is a screenshot of the GDAX price showing the high and low price. Many on social media criticized GDAX and alleged there was some sort of illegal activity taking place. GDAX denied this. "Our initial investigations show no indication of wrongdoing or account takeovers. We understand this event can be frustrating for our customers. Our matching engine operated as intended throughout this event and trading with advanced features like margin always carries inherent risk," White said in a blog post . "We are continuing to conduct a thorough investigation and will keep customers updated with any resulting actions." Story continues White also noted that these trades are final and will not be reversed. The exchange temporarily halted trading of ethereum on Wednesday before restoring the system shortly after. As well as the issues on GDAX, investor demand at the funding launch for an ethereum-based messaging app called Status clogged the ethereum network, an industry insider told CNBC . User makes $1 million off $380? Ethereum traders were outraged by the crash blaming GDAX for not having proper controls, and even accusing whoever put the sell order in of market manipulation. TWEET And it was a painful experience for many. On the social forum Reddit, users complained of losing large sums of money from $3,000 to $9,000. But it also seemed to be a large money making event for some too. On the trading forum StockTwits, user John DeMasie posted a screenshot of trade history around the time of the flash crash. It showed one person had an order in for just over 3,800 ethereum if the price fell to 10 cents on the GDAX exchange. Theoretically this person would have spent $380 to buy these coins, and when the price shot up above $300 again, the trader would be sitting on over $1 million. CNBC has been unable to verify the screenshot posted by DeMasie. Cryptocurrency excitement The ethereum crash comes amid rising interest in the broader cryptocurrency space. Both bitcoin (Exchange: BTC=-USS) and ethereum have hit record highs recently, and have both seen pullbacks . Ethereum in particular has been talked up because of the blockchain technology that underpins it. Whereas bitcoin and its blockchain is seen as a payment network, ethereum has been designed to support so-called smart contract applications. A smart contract is a computer program that can automatically execute the terms of a contract when certain conditions are met. The ethereum blockchain has also got backing from a number of large firms such as Microsoft , which has helped to drive the price higher. Ethereum is up around 4,100 percent year-to-date, based on the price it was trading at on Thursday morning, according to Coinmarketcap. WATCH: Here's what sets Ethereum apart from its rival Bitcoin More From CNBC India's digital payments giant Paytm to offer credit card and lending services Bitcoin start-up Blockchain raises $40 million from Google, Richard Branson Uber IPO prospects remain extremely good despite CEO resigning, Deutsche Bank says || Bitcoin storms back: Bitcoin has come all the way back from Thursday's steep slide. The cryptocurrency tumbled as much as 18.5% to $2,076 a coin after riskier assets fell following the Fed rate hike. On Friday, it's trading up 3.5% at $2,520. The selling on Thursday began when bitcoin-mining firm Bitmain outlined its " contingency plan . " Coindesk explained it best: "Most notably, the proposal would dedicate mining resources to hard forking the network to a rule set with a larger block size an upgrade that would likely result in two bitcoin networks and two tradable bitcoin assets." Riskier assets were already feeling some heat after the Federal Reserve raised its benchmark interest rate 25 basis points to a range of 1% to 1.25% on Wednesday. The writing had been on the wall. Bitcoin gained about 180% from the beginning of April through the middle of June. That run prompted tech billionaire Mark Cuban to call bitcoin a " bubble ." Additionally, Goldman Sachs head of technical strategy Sheba Jafari also sounded the alarm on bitcoin in a note to clients sent earlier this week, saying that "the balance of signals are looking broadly heavy." At least for now, it appears that Jafari nailed her call. "Consider re-establishing bullish exposure between 2,330 and no lower than 1,915," she concluded in this week's note. Bitcoin (Investing.com) NOW WATCH: An economist explains the key issues that Trump needs to address to boost the economy More From Business Insider Bitcoin is tumbling GOLDMAN SACHS: Bitcoin is looking 'heavy' Bitcoin nearly hits $3,000 before plunging || If You Bought $5 of Bitcoin 7 Years Ago, You’d Be $4.4 Million Richer: Seven years ago, the value of a single bitcoin was worth a quarter-of-a-cent. Today, that single bitcoin isworth upwards of $2,200.
Monday marked the seventh anniversary of what is said to be the first recorded instance of bitcoin used in a real world transaction. Over the course of seven years, bitcoin’s value has multiplied 879,999 times over since 2010. If an investor had decided to spend five dollars back then on about 2,000 bitcoins, that stake would be worth $4.4 million today. With $1,200 spent on some 480,000 bitcoins, the investor would be worth at least $1.1 billion today.
The early months of 2017 have been particularly heady days for bitcoin. Since the beginning of the year, the value of the cryptocurrencyhas surged as it gains legitimacy in countries like Japan. Investors have also come to see the currency as something of a safe haven asset amid geopolitical turmoil -- and there’s been plenty of that in recent months, in both Europe and the United States.
And that first transaction? A software programmer on “Bitcoin Talk” known as Lazlo Hanyecz offered to 10,000 bitcoins for a couple of pizzas. For a least three days, no one took bite of the offer, with Hanyecz writing: “So nobody wants to buy me pizza? Is the bitcoin amount I’m offering too low?”
A user eventually paid about$25 for two pizzas. In today’s bitcoins, those pizzas cost Hanyecz $22 million.
See original article on Fortune.com
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• Bitcoin's Murkier Rivals Line Up to Displace it as Cybercriminals' Favorite || Bitcoin surges 8% to record near $3,000 before giving up some gains: Bitcoin (Exchange:BTC=-USS) surged more than 8 percent at one point on Tuesday to a record, breaking above $2,900. The digital currency hit a high of $2,967.48 earlier in the session before giving back some gains to trade at $2,779.67, according to CoinDesk . The cryptocurrency came off its record shortly after Mark Cuban said it was in a bubble . The Bitcoin Investment Trust (GBTC) fund, which tracks bitcoin, rose 3.3 percent and traded record highs. Ethereum, an alternative cryptocurrency to bitcoin, also rose on Tuesday, advancing nearly 3 percent to build on Monday's record-setting session and its massive year-to-date gains . Bitcoin has also had a stellar year, rising nearly 200 percent, easily outperforming stock market benchmarks like the S&P 500 ( ^GSPC ) and the Nasdaq composite ( ^IXIC ) in 2017. Entering Tuesday's session, the S&P and Nasdaq had risen 8.81 percent and 16.9 percent for the year, respectively. Bitcoin in 2017 Source: FactSet Sean Walsh, a partner at Redwood City Ventures, which invests in bitcoin and blockchain companies, said in a note that bitcoin's price should continue rising. "It may sound like hyperbole, but I simply cannot emphasize enough how mismatched the quantity of whole Bitcoins and the population of potential global buyers is. Bitcoin is available for purchase to 3 Billion Internet-connected adults across every country in the world," Walsh said. "We produce just 1 new Bitcoin each month for 55,000 of these people to fight over." Brian Kelly, CEO and founder of BKCM and a CNBC contributor, echoed Walsh's comments in an email. "We are in the first years of what is likely to be a multi-year bull market. Of course there will be corrections and even crashes along the way, but bitcoin is here to stay." In fact, the bitcoin performance has come with greater volatility. On May 25, it plunged more than $300 after skyrocketing more than 12 percent in that session. A contributing factor to bitcoin's recent surge is growing demand from Asia, especially in Japan. Japanese interest has risen ever since the government approved bitcoin as a legal payment method in April. Story continues Investors also plowed more money into the currency after Minneapolis Federal Reserve President Neel Kashkari commented on the blockchain technology behind bitcoin, saying it " has more potential than bitcoin itself ." Blockchain is a record of transactions and historical value categorized into blocks by a network of computers. The technology has spurred the recent creation of other digital currencies. CNBC's Evelyn Cheng contributed to this report. WATCH: Here are three big risks to the bitcoin rally: Trader More From CNBC Cramer Remix: Here's whats really killing retail Cramer discovers the catalyst that could finally boost oil prices Cramer reveals what Apple's HomePod and J.Crew's departed CEO have in common || Barron's Picks And Pans: Bristol-Myers, Texas Instruments, Altaba And More: "Bristol-Myers Could Return 40% in Two to Three Years" by Vito J. Racanelli points out that Bristol-Myers Squibb Co (NYSE: BMY ) may not be a high-flying tech stock, but it is a leader in high-tech cancer treatments. Though the drugmaker has taken a beating after a disappointing lung-cancer trial and a related setback involving its Opdivo, see how patient investors could be rewarded. In "Texas Instruments' Analog Advantage Could Reward Investors," Lawrence C. Strauss suggests that shrewd moves have made Texas Instruments Incorporated (NASDAQ: TXN ) a giant in embedded processors and analog chips, with strong margins and a dominant market position. Find out why Barron's believes shareholders could see 10-percent annual returns for years. Jack Hough's "A Surge of Dealmaking Ahead for Cable, Wireless" makes the case that as cable and wireless operators contemplate joining forces, plenty of opportunity lurks for investors. The article includes possible takeover targets such as Frontier Communications Corp (NASDAQ: FTR ) and Sprint Corp (NYSE: S ), and check out who else is in the mix as well. See also: Benzinga's Bulls And Bears For The Past Week: Delta Air Lines, Buffalo Wild Wings And More Since taking up the reins in 1990, the Mendelson family has found a runway to riches with Heico Corp (NYSE: HEI ), a maker of replacement aircraft parts, according to "A Niche Business With Extraordinary Returns" by money manager Adam Seessel. See why the stock of one of the best companies investors probably have never heard of could climb sharply going forward. In Andrew Bary's "As Altaba Winds Down Yahoo!'s Holdings, Shares May Post 20% Gain," find out why Altaba Inc (NASDAQ: AABA ), which is what remains of Yahoo after the sale of its internet business to Verizon Communications Inc. (NYSE: VZ ) in June, still offers a lot of ways for investors to win, according to a key research analyst. For instance, the stock trades at a significant discount to its net asset value. Also In This Week's Barron's How to invest in Bitcoin. A skeptic's view of popular stocks. Fed Chair Janet Yellen's prediction of no more financial crises. The path back to normal for central banks. Chip insurgents gaining on Intel Corporation (NASDAQ: INTC ). How to play Latin America's stealth rally. Whether to be wary of "too clever" ETFs. Bank payouts that are set to rise. Why U.S. jobs data are not fake news. See more from Benzinga What Do Short Sellers Know About Home Depot? Benzinga's Bulls & Bears For The Past Week: Netflix, AMD, Colgate And More © 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments || John McAfee's latest gambit is mining Ethereum — the cryptocurrency that's up nearly 4,000% this year: (John McAfee.John McAfee)
MGT Capital, the company run by John McAfee, said it would start tomine Ethereum— the bitcoin rival that has surged nearly 4,000% this year — in its latest bid to turn a profit.MGT, which is publicly traded over the counter, has pitched itself to investors mostly as a cybersecurity company. Cybersecurity is where McAfee made his mark as the founder of the antivirus company that bears his name.But McAfee has more recently started to tout cryptocurrencies. He said last month that investments in bitcoin would help put MGTback in the blackby the end of the year.Ethereum is like bitcoin in thatit can be "mined"by computers that solve complex computations. MGT said Friday that it reached an agreement with Bit5ive LLC to buy up to 60 graphics-processor-based mining computers to help mine for ether.
"We are more convinced each day of the growth and value of digital currencies, and our company is uniquely positioned to be a leading provider of processing power to relevant blockchains," McAfee said in the statement.
McAfee's foray into the cryptocurrency space comes when others have been sounding the alarm after a huge run-up in prices.In early June, billionaireMark Cuban said it was evident that bitcoin was a bubble, tweeting, "When everyone is bragging about how easy they are making $=bubble."
Days later,Goldman Sachs warned that bitcoin was looking "heavy"and that a drop to between $2,330 and $1,915 a coin was looking likely. Bitcoin put in a low of $2,076 just a day later after the scaling debate came back into focus as the bitcoin-mining firm Bitmain outlined its "contingency plan" for if a hard fork were to occur. Bitcoin has recouped those losses and now trades at $2,708.
Ethereum is up by 3,964% in 2017. As for MGT, its stock is up by 42% year-to-date.
NOW WATCH:An economist explains the key issues that Trump needs to address to boost the economy
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[Random Sample of Social Media Buzz (last 60 days)]
See the FREE BITCOIN video presentation here #bitcoins #bitcoin http://bit.ly/OneOnlineBusiness …pic.twitter.com/P7Pxf3XUcv || How Would You Like BITCOIN ccoming into YOUR WALLET Like this. See How. http://bit.ly/2qu3eBG pic.twitter.com/lJ6jtWsvps || Australian Opposition Leader Believes Bitcoin is Fueling Terrorism: The left opposition le.. #Bitcoin #News #btc http://dld.bz/fPDVu || BTC Real Time Price: ThePriceOfBTC: $2669.10 #GDAX;
$2696.50 #bitstamp;
$2680.37 #gemini;
$2662.00 #btce;
$2677.99 #kraken;
$2689.09 #itBit… || #bitcoins , #Cryptocurrency Luxury villa goes up for sale in Bitcoin 2017-06-26 14:00:25 #Ethereum
BITCOINS ... - https://bitcoin.make-money.site/luxury-villa-goes-up-for-sale-in-bitcoin-2017-06-26-140025-26/ …pic.twitter.com/y5Am9BStAh || Train Bitcoin Train is Steaming Along. Secure Your Future and Jump On Board. http://bit.ly/2qtRTSe pic.twitter.com/leqyaEeWzj || BTC Real Time Price: ThePriceOfBTC: $2995.96 #GDAX;
$2979.40 #bitstamp;
$2872.00 #btce;
$2970.70 #gemini;
$2943.45 #kraken;
$3069.90 #cex; || In the last 10 mins, there were arb opps spanning 25 exchange pair(s), yielding profits ranging between $0.00 and $1,421.56 #bitcoin #btc || 12:00~13:00のBitcoin市場は上げ一服でした。
変化率は0.1728%
14:00までは反騰?
直近の市場の平均Bitcoinの価格は305526.0円
【AIコメントです:テスト中@パターンB】
#bitcoin
#AI || Crear (Wallet) Cartera o Billetera de Bitcoin y Ethereum (2017) Gana 10 Dolares
Video: http://crwd.fr/2tck1q9 pic.twitter.com/1sfJsywyMp
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Trend: up || Prices: 2233.34, 1998.86, 1929.82, 2228.41, 2318.88, 2273.43, 2817.60, 2667.76, 2810.12, 2730.40
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2015-06-10]
BTC Price: 228.80, BTC RSI: 46.24
Gold Price: 1186.10, Gold RSI: 47.81
Oil Price: 61.43, Oil RSI: 58.51
[Random Sample of News (last 60 days)]
Greece Isn't The Only Flight Risk For The Eurozone: Greece's financial woes have raised questions over whether or not the eurozone should be preparing for the nation to exit the currency union. However, although Greece has been in the spotlight for the better part of three months, it isn't the only nation the European Union stands to lose in the coming year. The UK is about to hold its general election next month; the outcome of which could result in a referendum on Great Britain's relationship with the EU. Referendum On Membership Conservative Prime Minister David Cameron has promised to renegotiate Britain's relationship with the EU if he and his party are re-elected. He vowed to give the population a chance to weigh in with a referendum vote in the coming year. However, if Cameron is defeated by his Labour Party counterpart Ed Miliband, the referendum is unlikely. Coalition Likely At the moment, polls show that the two parties have relatively equal support, which most expect means the vote will end with some sort of coalition government taking power. However, if the Conservative party is included in the coalition, a referendum vote is likely to remain on the table. Related Link: Greece's Finance Minister Quotes Roosevelt To Express His Frustration HSBC Warns On Referendum Last week, British bank HSBC Holdings plc (NYSE: HSBC ) voiced its concerns about a referendum on the UK's membership in the EU, saying that economic risks could be disastrous if the region decided to leave the EU. The bank said it was evaluating the possibility of moving its headquarters out of London due to the structural reforms banks have had to face since the financial crisis and warned that whether or not Great Britain remained in the EU would play into its decision making. See more from Benzinga Bitcoin Wallet Circle Rumored To Be Raising Million Marijuana Industry Blazes The Path For A New Kind Of Lawyer Facebook Looking To Take Over Your Life With Messenger © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin brokerage Circle gets $50 million investment: (Reuters) - Bitcoin brokerage Circle Internet Financial Inc said it closed a $50 million (32 million pounds)investment round led by Goldman Sachs and IDG Capital Partners. The company also said it will start giving customers the ability to hold, send, and receive U.S. dollars. Circle, a startup founded in 2013 by Brightcove Inc founder Jeremy Allaire and Sean Neville, allows customers to hold, transfer and receive the digital currency, Bitcoin. The company said if its users choose to keep dollars instead of bitcoin in their accounts, they can pay any person or merchant who accepts bitcoin without ever holding bitcoin themselves. Circle will handle instant conversion from dollars to bitcoins and vice-versa. The feature will be initially available to select customers and the company will offer it to more users every week. Goldman Sachs and China-based IDG Capital were joined by all of Circle's existing investors. (Reporting by Anya George Tharakan in Bengaluru) || Trading fast food: 7 plays on big names: Struggling fast food giant McDonald's (NYSE: MCD) may have started its comeback, even if reported menu changes fail to drive a turnaround, CNBC "Fast Money" traders said Tuesday. The company will reportedly expand all-day breakfast and simplify drive-thru menus, among other modifications, as it looks to boost performance in the United States. Shares of McDonald's-which have climbed 4 percent this year-may be worth buying because the company has so much room to improve, trader Brian Kelly contended. Read More McD's to expand all-day breakfast, add new sandwiches "The reason why you buy McDonald's is it's so bad it's good," Kelly said, adding that menu changes make a "silly" reason to own the stock. The chain's potential largely comes from "an incredible amount of land value," said trader Tim Seymour, whose firm Triogem Asset Management owns the stock. McDonald's has about 36,000 restaurants globally. He added that the company's capital allocation, which includes an 85 cent per share quarterly dividend, makes it worth buying. Trader Pete Najarian agreed that McDonald's looked appealing where it closed Tuesday, just below $98 per share. Trader Steve Grasso said he would buy McDonald's and sell fast-food competitor Yum Brands (NYSE: YUM) . Shares of Yum-which owns Taco Bell and Pizza Hut- have jumped 24 percent this year. Shake Shack Burger chain Shake Shack (NYSE: SHAK) is slated to report first-quarter results on Wednesday. Shares have floated more than 30 percent higher in the last month. "I would not be near" Shake Shack, Seymour said. He noted that the stock looks overpriced at more than $65 per share. Read More Shake Shack forming eerie IPO pattern: Chart Kelly called Shake Shack a "great franchise," but said the stock will trade lower. Disclosures: Tim Seymour Tim Seymour is long T, BAC, C, DIS, F, GE, GM, GOOGL, INTC, JCP, KO, SUNE, TBT and VIP. Tim's firm is long BABA, BIDU, CHL, MCD, NKE, NOK, SBUX and YHOO. Story continues Pete Najarian Pete Najarian is long AMAT, AAPL, BABA, BAC, BMY, BP, CSX, DISCA, FOXA, GE, KKR, KO, LLY, MBLY, MRK, PEP and PFE. He is long calls AA, AAL, BBY, BK, CBS, COP, CSX, DB, EJ, F, FL, GE, GS, HSBC, HZNP, IMAX, KO, KSS, LEN, MAC, MYL, NEE, NTAP, NUAN, OC, PFE, SYY, TEVA, TSX, UAL, UUP, VALE, VMW, VZ, XLF, XOM and ZIOP. Steve Grasso Steve Grasso is long AAPL, BAC, BTU, DD, EVGN, MJNA, PFE, T, TWTR and GDX. His firm is long TWTR, APA, AMZN, MCD, OXY, RIG, NE, TSE, VALE and IBM. His kids own EFG, EFA, EWJ, IJR and SPY. Brian Kelly Brian Kelly is long BTC=, BBRY, SPY puts and U.S. dollar. He is short Australian dollar, yen and yuan. More From CNBC Top News and Analysis Latest News Video Personal Finance || Buffett's Berkshire bash brings some intrigue: It’s called “Woodstock for Capitalists.” Berkshire Hathaway’s ( BRK-A ) annual meeting in Omaha is a little bit business, a little bit circus and always entertaining for the participants. But this weekend’s gathering has an added touch: intrigue. That’s because 84-year-old CEO Warren Buffett has been hinting he’s getting ready to announce when he’ll finally step down…and who he’s picking to replace him. But Yahoo Finance Editor in Chief Andy Serwer isn’t holding his breath expecting that announcement this time around. “I suspect not,” he says. “He’s in control of this thing and he plays this out very, very slowly. There’s sort of a group of successors and every year or so he kind of narrows it down a little more.” Yahoo Finance’s Aaron Task adds the rumor mill has been buzzing about Berkshire’s plans for a long time now. “They’ve talked about succession and they’ve named a couple people,” he explains. “It could be Ajit Jain, who runs Berkshire Reinsurance. You’ve got the guys who run the investment portfolio. Maybe they split it off. I suspect that’s what’s going to happen.” Task doesn’t think Berkshire investors should be worried when someone else finally takes the reins from the Oracle of Omaha because the company he’ll leave behind is such a juggernaut. “Berkshire IS Warren Buffett, but he wants you to think it’s bigger than Warren Buffett,” he notes. “So maybe they don’t get the same kind of terms as Warren Buffett, but all the deals are still going to come their way because they have the cash.” Get the Latest Market Data and News with the Yahoo Finance App Serwer also points out Buffett’s famous golden investing touch has gotten a bit tarnished recently. “His performance has lagged slightly over the past five years,” he says. “It’s very tough when you’re that big to grow and beat the market year after year.” Still, Serwer doesn’t believe anyone in Omaha this weekend will be complaining. “They’re 40,000 of the happiest people on the planet,” he explains. “And just to give you an idea why they’re so happy-- If you invested $100 when he started this thing in 1965, that $100 is worth $1,826,163.” Story continues And as for finding a replacement for Buffett? “They hope he lives forever and never has a successor,” Serwer laughs. Also from Yahoo Finance Bitcoin goes mainstream with Goldman's backing It's no secret, 'Secret' is no more || New Marijuana Bill Would Protect Legal Pot Sales: New businesses dealing in marijuana are popping up across the U.S. as more and more states begin legalizing medical and recreational marijuana. Everything from pot delivery services to pot-laced breath mints has hit the market as entrepreneurs move to claim their slice of the newly developing industry. However, the disparity between local state laws and federal legislation has left many small business owners living in fear that their operations could be shut down by the federal government at any time. Time For A Change For that reason, support for a bill that recognizes an individual state's power to make pot legal has been growing rapidly. To satisfy the growing number of Americans who support marijuana legalization, a group of bipartisan lawmakers have created a new bill that protects small businesses from federal charges if their sate has legalized marijuana. Respect State Laws Representative Dana Rohrabacher (R, California) introduced a new bill called the Respect State Marijuana Laws Act of 2015 on Wednesday with the support of five other Republicans and six Democrats. The bill would ensure that businesses dealing in the marijuana trade are protected from federal penalties if they are in accordance with their own state's laws. Related Link: Vancouver Provides Testing Ground For New Marijuana Vending Machines Change Of Leadership Troubling For Marijuana Businesses In the eyes of the federal government, marijuana possession is still a criminal offense punishable by imprisonment, but President Obama has said that federal officials will allow states to make and enforce their own laws regarding the substance. However, with a new president set to take office next year, some worry that the laws could quickly be amended and a federal crackdown could shut down hundreds of pot startups operating in accordance to state laws. For that reason, many pot-based businesses are pushing to pass a law in Congress that protects their operations from changes in the administration's view on marijuana. Story continues See more from Benzinga Bitcoin Robot Sheds Light On The Dark Web Smart Guns Could Put An End To Accidental Shootings Vancouver Provides Testing Ground For New Marijuana Vending Machines © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Buffett holds court in Omaha, Mayweather and Pacquiao bring in big bucks: Sell in May? No way! After a rough ride on Thursday stocks are bouncing back today with all three indices (^DJI,^GSPC,^IXIC) up more than half a percent. Some good news for consumers and automakers seems to be at least partly responsible for traders positive start to May.
Get the Latest Market Data and News with the Yahoo Finance App
Here are some of the other stoires Yahoo Finance is keeping an eye on today.
Berkshire shareholders flcok to OmahaBerkshire Hathaway (BRK-A,BRK-B) is holding its annual shareholder meeting this weekend. In what has become an annual ritual, the financial world will be listening for hints as to when 84-year-old CEO Warren Buffett might step down...and who might replace him.Mayweather vs. PacquiaTomorrow night...it's the big fight! Floyd Mayweather and Manny Pacquiao are squaring off for the world welterweight title in Las Vegas. The purse--estimated at $300 million dollars--is the most ever for a boxing match. HBO and Showtime are charging $99 dollars a pop to customers like our own Mike Santoli to watch it on pay-per-view. There are sure to be plenty of winners regardless of who wins the bout.
What to watch next weekFinally...it's Friday. Time to look at what we'll be watching next week.
Andy Serwer: Cinco de mayAaron Task: Jobs reportAkiko Fujita: British elections
More from Yahoo FinanceThe department store app that outpaced Uber, Tinder and NikeBitcoin goes mainstream with Goldman Sachs' backingMicrosoft developers conference falls flat, is Apple next? || Bitcoin Alternative NXT Announces Upcoming Release of NXT Version 1.5: The Complete Toolkit For Business: With upcoming release of Nxt software version 1.5 - which will include voting functionality, ability to use enhanced multisig account control, and improved data storage and transfer capabilities - Nxt has reached a new milestone as the next generation blockchain platform AMSTERDAM, NETHERLANDS / ACCESSWIRE / April 21, 2015 / From its inception in late 2013 Nxt has been designed to be a multipurpose toolkit, to be used either directly from the NRS client software or to be incorporated into third party applications. With account authorisation via the issue of secure tokens, enhanced data transfer and storage (with the ability to remove data when required), voting, multisignature transactions and much, much more, Nxt has now developed into a mature and complete next generation blockchain system for business use. Nxt Modularity Nxt is designed and built to be a modular system. It features several different transaction types, which can be used on their own or in combination. The current feature set, after the version 1.5 implementation of Voting and Phasing (enhanced multisig/account control) will include: - Send Transactions (sending the NXT currency or tokens to accounts - Data Transactions (send and store up to 40 kb of data) - Coloured Coins Transactions (create and trade Asset tokens) - Alias Creation Transactions (enabling the assignment of strings, such as a DNS entry, to Nxt accounts) - Sales Transactions (create and manage digital sales via a native marketplace) - Signature Transactions (provide proof of account via single-use token authentication) - Voting Transactions (fully customised polling system based on the Nxt blockchain) - Multisig Transactions - Custom Currencies Transactions (create customisable currencies on top of the Nxt blockchain) More in-depth information about these transaction types can be found in the Nxt Wiki or on the resource site, NxtInside.org . The perfect tool for DAOs Nxt is the perfect tool for the creation of Decentralised Autonomous Organisations (DAOs). A business or developer can issue their own tokens representing their organisational structure, handle a transaction stream, and keep their finance records in a fully transparent and auditable manner on the blockchain. Building new tools to enhance the core Nxt functionality for a business's own requirements is always possible, and the Nxt developer community will be happy to provide support for custom solutions where required. Story continues There is no absolute need to use the provided Nxt client software (the NRS client) if users do not want to, since Nxt can be utilised directly from within other applications by using the Nxt API , which currently has around 150 function calls. Full documentation for Nxt API can be found on the Nxt Wiki. Examples of projects that have been or are being built with Nxt include MyNxt.info, a browser wallet that supports plugins; DeBuNe, a company building business tools with Nxt; and Pangea Poker, a fully decentralised poker application. Nxt Foundation and PayExpo Last month, the Nxt Foundation was incorporated as a portal organisation to act as a point of contact for the Nxt community and anyone interested in the possibilities offered by Nxt - either from the cryptocurrency world or from the wider mainstream business community. The Nxt Foundation can also connect anyone with project ideas involving Nxt, such as entrepreneurs and business owners, with developers who can support or implement ideas and projects. The people within the Nxt Foundation have a background in sales, marketing and software development, and are happy to help people explore the possibilities of using Nxt. The NXT Foundation will be the official Cryptocurrency Sponsor of the upcoming PayExpo event, to be held in London on the 9th and 10th June 2015. Anyone is welcome to contact the Nxt Foundation at [email protected] should they have any questions or require any assistance with Nxt, or a project involving Nxt. NXT in Space Nxt is also a sponsor for the Low Orbit Helium Assisted Navigator (LOHAN) project: a private UK-based initiative to launch an autonomous 3d-printed drone to the edge of space. This mission will carry a copy of the Nxt client software on its flight control computer, taking Nxt to new heights. For more information about us, please visit http://nxt.org/ Contact Info: Name: Bas Wisselink, Nxt Foundation Director Email: [email protected] Organization: Nxt Foundation Phone: +31 (0)6 13937762 SOURCE: NXT || Nasdaq's bitcoin plan will provide a real test of bitcoin hype: Bitcoin, the virtual digital currency, has been called the future of banking, a dangerous fad and almost everything in between, but we're finally about to get some solid data to help settle the debate.On Monday, the Nasdaq (NDAQ) stock exchange said it wouldtry using bitcoin's globally distributed network for verifying virtual currency transactionsas a logbook for tracking private company stock deals.Nasdaq is best known for running the $9.5 trillion exchange listing public companies like Apple (AAPL) and Google (GOOGL). But two years ago it started a market for trading in shares and options of private companies, such as music app Shazam and messaging service Tango. Keeping records of private stock transactions has sometimes been a haphazard affair and Nasdaq wants to bring more certainty, security and speed to the trades using bitcoin's network.Until now, bitcoin's popularity has been all too dependent on the currency's often-volatile price. It was all over the news when the price of a single bitcoin topped $1,000 back in November, 2013. And there was plenty of coverage of the subsequent crash, as the price dropped more than 75% last year. Currently, each bitcoin trades for about $245. The extreme ups and downs left many people puzzled about how bitcoin could ever be used as a reliable currency.
[Get the Latest Market Data and News with the Yahoo Finance App]
The Nasdaq's plan, however, has nothing to do with using bitcoin like money. Instead, it's the technology underlying bitcoin -- the network of computers around the world that make the system work -- that intrigues the Nasdaq and many others on Wall Street.Every transaction sending a bitcoin, or a fraction of a bitcoin, from one person's digital wallet to another's entails running the trade through encryption equations which are, in turn, verified by the network, usually in 10 minutes or less. The results are published in a public digital ledger known as the blockchain.The system includes a feature to add more information to each transaction in the blockchain as well, information which can't be altered or forged without being detected by the network.Nasdaq will use this commenting feature for its new private stock transaction service. Each time private stock is issued or transferred, the information can be added as a comment in a bitcoin transaction. And then, within 10 minutes, the blockchain will be updated with the information. The actual amount of bitcoin traded can be tiny -- the system includes 8 decimal places, so deals can take place with just 1/100,000,000 of a bitcoin.Wall Street has been slowly getting more involved in the bitcoin ecosystem. Last month, Goldman Sachs (GS) was the co-leader ofa $50 million fundraising round for Circle Internet Financial, which runs a bitcoin wallet service. And in January, bitcoin exchangeCoinbase got backing from several big financial firms, including the New York Stock Exchange.But the Nasdaq initiative marks by far the most mainstream, large-scale use of the bitcoin network beyond the trading of bitcoin itself. It could uncover previously unnoticed problems or weaknesses in the system. It might also turn out to be more cumbersome or less speedy than expected.Or, it might turn out to be the key to slashing the three-day settlement time that's standard for trading most securities in the United States down to less than 10 minutes.Either way, we'll finally get a reality check for the super-hyped cryptocurrency. || UK Lebanon Tech Hub Up And Running: TheUK Lebanon Tech Hubwas 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 emergingtech 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 forLebanese 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-powerede-commerce payment platformYellow 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 || The 21st Century Cures Act Gets A Mixed Reception: Last week, the House Energy and Commerce Committeeunanimously passedthe 21st Century Cures Act, a new bill that will help fund medical research and relax regulations related to the discovery, development and delivery of new drugs.
While some consider the new bill as a major step forward for the industry where the cost of developing new drugs has skyrocketed, others say the bill puts the public in danger as it doesn't require the meticulous testing that has been necessary in the past.
Funding Change
The bill offers incentives for scientists working on drugs that are important to the industry as a whole. The act dedicates government dollars to researchers working to develop precision medicine drugs and antibiotics that combat resistant strains.
The legislation also supports the creation of a massive genomic database that will use large volumes of genetic data in order to help in the push toward developing precision drugs that target a specific gene.
Related Link:Bio Applauds Approval Of 21st Century Cures Act
Safety Questions
Public safety groups have questioned the safety of such a bill, saying that allowing drugs to be approved by the Food and Drug Administration without full clinical testing creates a risk for patients. If passed, the bill would allow high-risk medical devices like pacemakers to gain approval without a full clinical study, something many say could create a dangerous precedent.
Biotechs On Board?
Biotech companies initially saw the bill as good for the industry as an initial draft extended market exclusivity rules for new drugs. However, those offers were dropped in the final version of the bill, leaving the biotech industry with little reason to back the bill.
The Energy and Commerce Committee recentlyrequestedfinancial support for the bill from the Biotechnology Industry Organization, something the group is unlikely to offer without any benefits.
Image Credit: Public Domain
See more from Benzinga
• Despite Warnings About A Grexit, Investors Remain Calm
• Should The UK Regulate Bitcoin Wallets?
• Federal Government Reminds Workers That Marijuana Is Still Off Limits
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
[Random Sample of Social Media Buzz (last 60 days)]
Current price: 236$ $BTCUSD $btc #bitcoin 2015-05-14 00:40:04 EDT || LIVE: Profit = $882.97 (24.35 %). BUY B15.37 @ $235.73 (#Bitfinex). SELL @ $246.00 (#VirCurex) #bitcoin #btc - http://www.projectcoin.org || LIVE: Profit = $932.39 (23.97 %). BUY B16.70 @ $231.76 (#BTCe). SELL @ $235.00 (#VirCurex) #bitcoin #btc - http://www.projectcoin.org || 1 #bitcoin 647.65 TL, 243.283 $, 219.975 €, 133.19827 GBP, 12301 RUR, 29639 ¥, 1500.9 CNH, 294.00 CAD #btc || 1 #bitcoin 611.06 TL, 219.4 $, 208.155 €, 150.79999 GBP, 11620.00 RUR, 26601 ¥, 1422.71 CNH, 264.03 CAD #btc || Current price: 155.84£ $BTCGBP $btc #bitcoin 2015-05-12 13:00:07 BST || $235.25 at 04:30 UTC [24h Range: $234.00 - $237.96 Volume: 8802 BTC] || current #bitcoin price (winkdex) is $225.1, last changed Sun, 19 Apr 2015 17:25:00 GMT. queried at: 17:27:43 || LIVE: Profit = $1,056.50 (28.05 %). BUY B16.73 @ $224.00 (#BTCe). SELL @ $230.00 (#VirCurex) #bitcoin #btc - http://www.projectcoin.org || Current price: 151.6£ $BTCGBP $btc #bitcoin 2015-05-31 21:00:03 BST
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Trend: up || Prices: 229.71, 229.98, 232.40, 233.54, 236.82, 250.90, 249.28, 249.01, 244.61, 245.21
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2019-04-10]
BTC Price: 5324.55, BTC RSI: 84.17
Gold Price: 1309.10, Gold RSI: 56.19
Oil Price: 64.61, Oil RSI: 74.94
[Random Sample of News (last 60 days)]
Natural Gas Price Forecast – Natural gas markets test 200 day EMA: Natural gas markets fell rather hard during the trading session on Friday, reaching down towards the 200 day EMA. That’s an area that of course has a lot of technical importance at times, but as you can see when you zoom out, the chart is clearly consolidating over the longer-term, but you need to pick out the best trades and obvious areas to get involved. NATGAS Video 25.03.19 Looking at the chart, I believe that the $2.60 level will be the beginning of significant support, extending down to the $2.50 level. If we were to break down below the $2.50 level, that would be an extraordinarily bearish sign. However, I suspect it’s going to be very difficult to imagine a scenario where that happens. If we did though, we would probably go down to the $2.25 level. On the other side, the market has significant resistance at the $2.90 level, extending to the $3.00 level. That is an area that could offer quite a bit of selling. In the meantime, we are simply in the middle of the range, and I think that will continue to be something that we should pay attention to, and not get involved. Simply selling at the highs and buying at the Lowes has worked for some time, so of course that’s the best way to trade this market. As we are in the middle, I’m on the sidelines and waiting for an opportunity to get involved again. Please let us know what you think in the comments below This article was originally posted on FX Empire More From FXEMPIRE: USD/CAD Daily Price Forecast – US Dollar To Retain Positive Price Action Crude Oil Weekly Price Forecast – Crude oil markets form reversal signal Bitcoin And Ethereum Daily Price Forecast – Major Crypto Coins Rebound On Bear’s Incompetence Helped GBP/USD Weekly Price Forecast – British pound pulls back for the week but finds buyers in the end Crude Oil Price Update – Close Under $58.82 Produces Potentially Bearish Closing Price Reversal Top Natural Gas Price Prediction – Prices Drop on Warm Weather Forecast || Texas Regulator Takes ‘Emergency’ Action Against Obvious Crypto Scam: Travis J. Iles, the Securities Commissioner of Texas,isn’t taking any gufffrom a site called FxBitGlobe. Iles issued an “emergency” cease and desist order to FxBitGlobe, ordering them to quit attempting to do business with anyone in the great State of Texas.
Theorderoutlines the hilarity of the scam in exhaustive detail that only a group of lawyers could manage. For one thing, FxBitGlobe lists an address in Houston which doesn’t exist. For another, they claim to be a member of the SIPC, which is easily verifiable for a regulator and is untrue. The order calls this a “misrepresentation of relevant facts.”
FxBitGlobe offers anywhere from 25 to 75% returns, depending on the amount invested. They don’t describe anywhere how they garner these returns. Setups like this are usually the cardinal signs of a Ponzi scheme, and in crypto, we’ve seen so many of them that it’s absurd. Crypto Ponzi schemes have the added benefit of market volatility: from time to time they succeed longer than traditional Ponzis might because of the amount made on the Bitcoin.
On top of all this, the firm has an affiliate program. The regulator considers affiliates to be “unregistered sales agents.”
In addition to offering unregistered investments, the company is recruiting unregistered sales agents and promising them a commission equal to 5% of a new client’s principal investment.
FxBitGlobe doesn’t provide any information on how they will make these alleged returns. They do, however, provide false registration and business information.
Referral commissions have long been a critical driving force in the expansion of Ponzi schemes. While a legitimate tool in many enterprises, they pervert the natural course of decision making. People bring their friends on board, sometimes actually believing they’re getting into something great,only to lose everything– including their friendships – later on.
Read the full story on CCN.com. || Bitcoin And Ethereum Daily Price Forecast Major Crypto Coins Bleed Red: The cryptocurrency market has finally come to bears playground. While the month of February saw positive performance overall, the latter half of the month began showing signs of bullish exhaustion. There was even an attempt by bears to take control of price action ahead of Constantinople hard fork schedule. But history failed to repeat itself as the downside move turned out to be nothing more than a small correction with all losses recovered in a short time frame. Meanwhile, headlines and comments from key regulatory authorities had confirmed that much-anticipated events in the crypto market the debut of CBOEs Bitcoin ETF and Bakkt platforms Bitcoin futures are likely to be delayed till the end of March 2019 or maybe even later. Profit Booking Was Triggered Owing To Lack Of Bullish Progress Following ETH Hard Fork This took away a great deal of fundamental support from the market. However, price action consolidated well above critical support levels ahead of Constantinople network upgrade as investors wanted to wait till the last momentum to book profit and also wanted to observe the reaction on retail participants and minors following the network upgrade. This left price action flat till Friday last week and as most people had expected there was no major change in price move as traders were expected to book profits and prospect of the same totally shut down any chance for bullish price action. However, one thing remained the same i.e., the price activity pattern had been the same so far since February which is that a great deal of activity takes place during weekends. And while the decline hasnt been as sharp and instantaneous and deep as expected bears have begun to take control of price activity in Bitcoin and other major legacy cryptocurrencies. Sunday saw traders begin to book profits and the momentum carried forward onto Monday resulting in sharp declines. Both Bitcoin and Ethereum saw significant loss with BTCUSD pair falling below $3800 handle down by nearly 2.5% while ETHYSD pair fell below $135 and $130 handles over the weekend and Monday settling all the way down at $126 below which there is next critical support price handle at $125 mark down more than 4% on the day. Moving forward, investors are expected to wait to see if there will be some level of upside price action as they await headlines from Russia on regulatory proceedings. In the meantime, there will be strong support near $3700 handle and $125 handle for bitcoin and Ethereum near which range-bound price action is expected to continue in the immediate and near future trading sessions until there is next bout of sharp bearish decline. Story continues Please let us know what you think in the comments below This article was originally posted on FX Empire More From FXEMPIRE: Natural Gas Price Prediction Prices Trade Sideways Despite Frigid Mid-west Weather Forex Daily Outlook March 5, 2019 Bitcoin And Ethereum Daily Price Forecast Major Crypto Coins Bleed Red GBP/USD Price Forecast GBP/USD On Path For Steady Downside Move Gold Price Prediction Prices Slide on Stronger Dollar and Negative Technicals Globalization vs Protectionism The National Peoples Congress Gets Underway View comments || Andreessen Horowitz Restructures, Registering Entire Staff as Financial Advisors: American venture capital firmAndreessen Horowitzis restructuring by registering all of its employees as qualified financial advisors, Forbesreportedon April 2.
Andreessen Horowitz — aSilicon Valleycompany specializing in investing mostly in technology and financial services startups, havingraised$1.7 billion across seven funds — told Forbes that it is registering their all 150 employees as financial advisors, which renounces the company’s status as a venture capital firm entirely.
The restructuring will purportedly enable Andreessen Horowitz to take riskier bets on certain business areas, including digital currencies. “If the firm wants to put $1 billion intocryptocurrencyortokens, or buy unlimited shares in public companies or from other investors, it can. And in doing so, the thinking goes, it’ll again make other firms feel like they have one hand tied behind their back,” it further explains.
This spring, Andreessen Horowitz reportedly gave up its venture capital exemptions and registered as a financial advisor. The move required a ban on its investors speaking plainly about their portfolios or funds performance in public, among other things like auditing each employee.
At the same time, the company’s partners can now openly share deals in cases like a blockchain startup for home buying wherein a real estate expert tag-teams a deal with a cryptocurrency expert.
Last September, Andreessen Horowitzinvested$15 million in blockchain startup MakerDAO (MKR). Andreessen Horowitz via its investment fund a16z acquired 6 percent of the total MKR token supply. The purchase was set to allow a16z to manage MKR and the Dai Credit System as it reportedly becomes “the first” decentralized autonomousstablecoinorganization.In June of last year, Andreessen HorowitzhiredKatie Haun as its first female general investing partner to run the company’s newly formed $300 million cryptocurrency fund. The firm’s crypto fund is designed to invest in a range of companies from blockchain projects toinitial coin offerings.
• Boerse Stuttgart-Owned Swedish Exchange Lists XRP, LTC Tracking Exchange-Traded Products
• BTC Tests $5,000 Amid 2019’s First Major Crypto Market Recovery
• Nimiq Acquires 9.9% Stake in Germany's WEG AG to Become Bank's Third Crypto Firm Owner
• Crypto Market Rally Continues With Bitcoin Above $4,900, Tech Stocks Bounce Back || The Best Way to Know Bitcoin is a Conservative Investment: A more sober, conservative approach to investing in bitcoin than considering the all-time high price of bitcoin and its future possibilities is to track bitcoin's yearly price lows. | Source: Shutterstock By CCN.com : Before looking at the best way to know bitcoin is a conservative investment (a very impressive 10 year bitcoin trend that has many investors pouring money into bitcoin )… Here’s the best way to know bitcoin is not a conservative investment, but a terrible get rich quick scheme, “ probably rat poison squared ” even, as Warren Buffet calls bitcoin: Best Way to Know Bitcoin Is Rat Poison Squared You see bitcoin or another cryptocurrency’s ATH (All Time High) prices going higher and higher, and you think now’s not a bad time for a second mortgage on your house . Or a first mortgage : “I’m all in yall! Just took out a 250k loan against my house and put it all into bitcoin. This dip feels like the perfect timing. LETS GOOO!!!” Read the full story on CCN.com . || Bitcoin Payments Surge to New Record: Heres the Real Trigger: Bitcoin's transaction rate has surged to a new record, but the real trigger behind the surge is far less bullish than you might think. | Source: Shutterstock By CCN.com : The average transactions per Bitcoin block have gone to its all-time high in the past few days, and many people are attributing the rise in operations to a company called Veriblock. Veriblock is said to be creating as many as 20% of the total transactions on the Bitcoin blockchain at this time. The average number of transactions per block is at ATH. Source: https://t.co/XAQailPunX #bitcoin pic.twitter.com/B86lkuh5Iv Gwented (@Gwented2) March 29, 2019 Veriblock: Proof of Spam? According to Blockchain.info, the current transaction rate is at its all-time high. The actual highest transactions ever recorded in a single day was back in December 2017, when, according to Bitinfocharts , transactions exceeded 420,000 in a single day. According to Bitinfocharts, the rate of Bitcoin transactions is currently nearing its high of December 2017. The fees are nowhere near where they were then, however. | Image from Bitinfocharts.com Veriblock went live a few days ago, and according to its block explorer , it currently represents almost 19% of the total Bitcoin transactions. People were already concerned about it when it was still in its testing stages . If there were enough demand for Veriblocks services, could it push up to 80% of all Bitcoin transactions? bitcoin transaction rate According to Blockchain.info, average transactions per block have reached a new high. | Image from Blockchain.info. Read the full story on CCN.com . || Report: Canada Revenue Agency Auditing Crypto Investors: TheCanadaRevenue Agency (CRA), thegovernment’staxcollection service, is reportedly auditing investors incryptocurrencieslike Bitcoin (BTC), Forbesreportson March 6.
Citing sources close to the matter, Forbes states that the CRA has sent extensive questionnaires to investors pertaining to their crypto-related activities in recent years. The questionnaires reportedly run 14 pages long with 54 questions and multiple sub-questions. The CRA told Forbes:
“In order to protect the integrity of our risk assessment systems, we cannot comment on the specific information or criteria we use to select files for audit.”
Per Forbes, the CRA is asking investors to clarify multiple points regarding their crypto investments, such how and through whom they purchased the assets and whether they use cryptocurrencymixing services or tumblers.
Another question reportedly asks whether investors have bought or sold assets onShapeShiftorChangelly—cryptocurrency exchangeswhich both allow users to trade assets without disclosing their real world identity.
The agency began taxing cryptocurrencies in 2013, and subsequently established a dedicated cryptocurrency unit in 2017 for collecting intelligence and conducting audits focused on crypto-related risks. While the CRA closely monitors crypto related activities, federal and provincial governments in Canadahave createdresearch and development tax incentives. The CRA said:
“The CRA’s enhanced efforts in this space stem directly from its broaderUnderground Economy Strategy, which includes a commitment to monitor emerging platforms and new business models, with a special focus on the sharing economy and digital currencies.”
Laura Gheorghiu, a tax partner at law firm Gowling WLG, previously told Cointelegraph that the CRA classifies cryptocurrencies as a commodity, making the exchange of crypto taxable as a barter transaction and making it taxable as business income or capital gains. Most Canadians must file their tax returns before April 30, while self-employed filers have until June 15.
As the April 15 deadline for tax filing looms in theUnited States, some companies are introducing new services that allow investors to more easily calculate taxes on their crypto holdings. In early February, tax preparationsoftwareTurboTaxreleaseda new version of its eponymous tax preparation software that allows users to import trading data directly from major exchanges, such asCoinbase,Gemini, andPoloniex.
Yesterday, Big Four auditing firmErnst & Younglauncheda tool for accounting and preparingtaxesoncryptocurrencyholdings. The new tool called EY Crypto-Asset Accounting and Tax will allow both institutional and retail investors to calculate and prepare taxes on cryptocurrency holdings.
• FATF Issues Preliminary Guidelines on Digital Assets to Combat Money Laundering
• Russian Supreme Court Classifies Illicit Crypto Use Under Money Laundering Laws
• Crypto Skeptic Massachusetts Secretary Creates Fintech Advisory Group
• Israel Securities Authority Publishes Final Recommendations on Crypto Regulation || It’s Risk on, Dollar Off as the Markets Consider the FED’s 2019 Rate Path: Economic data released through the Asian session this morning was limited to December machinery order numbers and 1stquarter forecasts out of Japan.
According to figures released by theCabinet Office,
Core machinery orders fell by 0.1% in January, month-on-month, which was better than a forecasted 1.1% decline. In November, orders had stagnated. Year-on-year, core machinery orders rose by 0.9%, falling well short of a forecasted 4.8% increase. In November, orders had risen by just 0.8%.
• For the 4thquarter, core machinery orders slid by 4.2%, quarter-on-quarter.
• Forecast for the 1stquarter of this year is for core machinery orders to fall by a further 1.8%.
• Machinery orders from overseas fell by 21.9% in December, month-on-month, whilst rising by 12.1% in the 4thquarter of last year.
• Orders for the 1stquarter of this year are forecasted to slide by 17.1%, reflecting the effects of weaker global growth and the ongoing U.S – China trade war.
Upon release of the figures, the Japanese Yen moved from ¥110.536 to ¥110.521, against the Dollar. At the time of writing, the Yen stood at ¥110.50, down 0.03% for the session.
Vehicle sales will give the likes of the DAX a move and also give the markets some further insight into the direction of the Chinese economy. Sales figures are due out later this morning.
The Kiwi Dollar stood at $0.6887 at the time of writing, a gain of 0.28% for the morning. The Aussie Dollar was also in positive territory ahead of the RBA meeting minutes due out tomorrow. Rising by 0.17%, the Aussie Dollar stood at $0.7153.
In the equity markets, direction came from positive updates from trade talks, with an anticipated extension to the 1stMarch deadline for tariffs supporting risk appetite early on.
At the time of writing, the Nikkei was up 1.87%, in spite of the disappointing machinery order figures, with the ASX200 up 0.33%.
Leading the way through the early part of the day was the CSI300, which was up by 2.11%, while the Hang Seng trailed with a 1.51% gain early on.
There are no material stats scheduled for release through the day. The EUR will be in the hands of market risk sentiment. With the Spanish government calling for snap elections in April and economic woes troubling the markets, new questions have arisen over the fiscal policies of both France and Italy.
Both Italy and France have budget deficits that are forecasted based on overly optimistic growth forecasts. With the EU cutting Italy’s growth forecasts and France’s existing forecasts sitting ahead of Germany, the EU may be forced to deliver cuts to French growth forecasts should 1stquarter economic indicators fail to support the numbers.
Expect plenty of rumblings over the respective budget deficits of both France and Italy and the likely impact of sizeable downward revisions to growth projections for this year.
Outside of the political arena, sentiment towards the U.S – China trade talks and today’s vehicle sales figures out of China will also influence.
At the time of writing, the EUR up by 0.18% at $1.1316.
It’s a quiet day on the data front, leaving the Pound in the hands of Brexit chatter through the day. For now, the focus is on Theresa May’s attempts to unite parliament but, should there be a lack of progress and the prospects of a no-deal departure rise, more ministers could state support for a vote against a no-deal Brexit.
At the time of writing, the Pound was up by 0.19% at $1.2914.
It’s a quiet day ahead, with the U.S markets closed for President’s Day, a celebration of George Washington’s birthday. While there are no stats to consider, weak economic data out of the U.S through the last week and political wrangling on Capitol Hill have left the Dollar on the defensive going into the week.
At the time of writing, the Dollar Spot Index was down by 0.17% to 96.735.
Canadian markets are also closed today. With no economic data scheduled for release, the direction will come from risk sentiment through the day. While trading volumes will be on the lighter side, positive updates from trade talks between the U.S and China should provide support early on.
The Loonie was up by 0.09% to C$1.3232, against the U.S Dollar, at the time of writing.
Thisarticlewas originally posted on FX Empire
• The Week Ahead – Brexit, PMI Numbers and Trade Talks in Focus
• DASH Technical Analysis – Resistance Levels in Play –18/02/19
• Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 17/02/19
• Asian Investors Optimistic as Trade Talks Move to Washington
• Oil Price Fundamental Weekly Forecast – WTI, Brent Nearing Balance Zones; Need China Deal to Exceed Targets
• E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – Key Level on Weekly Chart is 7022.25 || An institutional crypto broker multi-factor index inches further into bullish territory amidst recent volatility: SFOX , a crypto institutional broker-dealer which recently raised ~$20 million led by Social Capital and Tribe Capital , released its March volatility report refreshing volatility, correlations, and other metrics to date in 2019. The full report can be viewed here , with some highlights including: The SFOX Multi-Factor Market Index has swung from moderately bearish entering 2019 to moderately bullish through March. The index is a proprietary model that looks at quantifiable market factors such as volatility, market sentiment/news coverage, adoption, etc. BTC’s 30-day price correlations to ETH, BCH, LTC, and ETC all closed the month close to 1 (highly correlated). The cryptoasset least correlated to BTC was ETC, with a correlation of 0.685; the least correlated cryptoasset pair was LTC and ETC, with a correlation of 0.453. Of note, correlations between BTC and ETC steadily decreased from the beginning of March through March 20, at which point the two were at a fairly low positive correlation of 0.21. || What is trading volume in cryptocurrency?: Trading volume in cryptocurrency is an essential metric for assessing the health of a particular coin. When attempting to identify early-stage coins with a high chance of success, analysts will always examine their trading volumes along with other key metrics such as market capitalisation and circulating supply. So what exactly is trading volume in cryptocurrency and why does it matter? Trading volume is one of the most prominent metrics Trading volume is so important because it can help you to identify a coins possible direction. Take a quick glance at sites such as CoinMarketCap and youll see the volume reported over 24 hours. Check any coin on any given day and the trading volume will be different. Lets say that Binance Coin (BNB) traded $178,951,869 USD in 24 hours. This is usually also expressed in relation to how many Bitcoins (43,744 BTC) and, in the case of BNB, how many ETH (1,269,583 ETH) since BNB is an ERC-20 token. If you click on the volume, it shows how much was traded on each exchange where the coin or token is listed. Over the last 24 hours, with BNB, the lions share of trading volume is unsurprisingly on Binance. But youll also see what the token has been traded with, for example BTC, ETH, and mainly USDT. Why is all this so important? Because the amount of the coin or token that is changing hands is an indicator of its popularity as well as market sentiment. It shows how many people are buying or selling and can help identify a potential price breakout. Always pay attention to trading volume Traders should always pay attention to trading volume as it gives clues to the strength or weakness of the market for the coin. You can also glean early signs of a possible change in trend, whether bearish or bullish, as you can see how many traders are establishing positions. To do this, however, you cant just look at trading volume one day and not check it the next. One of the best ways of using this metric is by comparing the 24-hour volume of a coin on a major up day against that of a major down day. If a bullish breakout for Bitcoin doesnt follow record volume, it could be what analysts call a false breakout. Story continues However, if BTC price suddenly shoots up and is accompanied by a heavy trading volume, you can see that many people are making moves and deduce that it will likely continue to climb. If the price goes down and there is minimal trading volume, that may reveal a small number of people supporting the downward trend. What else can you find out by looking at volume? Volume is so relevant to traders as they can break it down and examine it in many ways to make an educated prediction on pricing points. They can examine trading volume by 24 hours, a week, or even 30 days. All these results can help them to identify whether a specific coins fluctuations are normal or indicative of a major breakout (or decline). When a coin typically has frequent heavy movements, it will naturally attract less attention when trading volume is high. But when coins usually have lower trading volumes, sudden hefty trading over 24 hours could mean that someone or something is making it move. If a coin suddenly jumps in value by say 25%, that may look good on paper. But if it is experiencing low trading volume, investors may remain cautious. Why? Because it could be a sign that the price hike wont last and that a correction is coming. It could also be that only a few people are trading, meaning crypto whales are manipulating its price. Examining which exchanges are trading the most volume can be revealing as well as you get a snapshot of whos buying. For example, Bithumb is a major exchange in South Korea. Kraken has more customers in Europe. Seeing who is buying and selling could be indicative of the market in a certain area. Which coins are traded the most? There are exceptions, but generally, the bigger coins experience higher trading volume. So, that means that Bitcoin, Ethereum, and Ripple will normally display higher volumes. Litecoin and EOS are lower down on the list by market capitalisation, yet they have higher trading volumes than XRP, so its not a hard and fast rule. According to a recent Bitwise report which shook the market, an astounding 95% of trading volume in cryptocurrency is fake. This is indeed concerning for the industry and for traders following this metric. However, not all exchanges are reporting fake trading volume, so check out the report to see which exchanges are considered reputable, as well as carry out your own research. Wrapping it up Trading volume isnt perfect and merely hints at the sustainability of a given move. A sudden price hike with low volume means you should stay cautious (it may be fools gold). Similarly, a significant drop with considerable volume may point to an extended bear run. Of course, nothing is certain in trading, and even less so in the volatile cryptocurrency markets. But learning to effectively analyse trading volume can give you an extra tool in your kit. The post What is trading volume in cryptocurrency? appeared first on Coin Rivet .
[Random Sample of Social Media Buzz (last 60 days)]
1/ The shifting in time preference that Bitcoin brings, is one of the most important long term pro-societal attitude shifts that we will all benefit from. This idea pulls at every libertarian string in my body, as well as its use cases are profound for world freedom at scale. || #XRP
Buy at #Bittrex and sell at #EXMO. Ratio: 2.87%
Buy at #Bitfinex and sell at #EXMO. Ratio: 1.00%
Buy at #Binance and sell at #EXMO. Ratio: 3.23%
Buy at #Sistemkoin and sell at #EXMO. Ratio: 1.20%
#bitcoin #arbitrage #arbitraj #arbingtool
http://arbing.info || Fam a friendly reminder. TCNX/LTC trading pair will delist on STEX at 9:00 AM EDT Time and TCNX/BTC Trading pair STEX will open at later date. TCNX deposit will begin on BitMart at 8:00 AM EDT Time and Trading will begin at 11 AM EDT Time. $TCNX #TCNX || #Doviz
-------------------
#USD : 5.3791
#EUR : 6.1230
#GBP : 7.1224
--------------------------------------
#BTC
-------------------
#Gobaba : 22593.36
#BtcTurk : 20624.00
#Koinim : 20698.99
#Paribu : 20601.02
#Koineks : 20787.99 || 1 BTC Price: Bitstamp 4932.52 USD Coinbase USD #btc #bitcoin 2019-04-05 00:30 pic.twitter.com/9fMrlJ4cO0 || Hoy Jueves 07 de Marzo
▲ USD - $ 19.37
▲ EUR - $ 21.89
▲ BITCOIN - $ 74,511.20
▲ ETHER - $ 2,616.84
▲ XRP - $ 6.00
#TipoDeCambio
#FelizJueves
#BuenJueves || #Bitcoin $3,878.72 v #BitcoinCash $276.55 (BTC/BCH 14.0), Avg Transaction fee for #Bitcoin ~$0.35 v #BitcoinCash ~$0.00 - 2019/03/12 06:00JST || #BTC
Bitcoin EUR: 3424.09
Bitcoin USD: 3888.70
Bitcoin Ruble: 242195.00
Bitcoin Yen: 427497.44
#CgAn BTC AdDreSs: 1Bhgvcsm3P59fSCLg5G6DSstpV4srk5JTy
https://bitcoincharts.com/
#ICC || 10 days to go to win 1,500 CHT (worth 1500$) & 0.3 BTC!! Sign up for this awesome contest! https://clinicall.viral24.io/9603/6896270
#win #community #contest #CHT #clinicall #btc #free #social #tasks #blockchain #crypto #bounty #CHC #token || 1 BTC = 15478.64000000 BRL em 20/03/2019 ás 12:00:02. #bitcoin #bitcoinbr #bitcoinexchangebr
|
Trend: up || Prices: 5064.49, 5089.54, 5096.59, 5167.72, 5067.11, 5235.56, 5251.94, 5298.39, 5303.81, 5337.89
|
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 for 2020-09-25]
BTC Price: 10692.72, BTC RSI: 48.45
Gold Price: 1857.70, Gold RSI: 35.68
Oil Price: 40.25, Oil RSI: 50.03
[Random Sample of News (last 60 days)]
Market Wrap: Bitcoin Makes Headway to $10.3K; Ether Volatility Highest Since May: Bitcoin is eking out gains Wednesday while ether’s volatility is up on DeFi drama. Bitcoin (BTC) trading around $10,299 as of 20:00 UTC (4 p.m. ET). Gaining 2.7% over the previous 24 hours. Bitcoin’s 24-hour range: $9,818- $10,349 BTC above its 10-day and 50-day moving averages, a bullish signal for market technicians. Bitcoin is slowly making gains Wednesday, reaching as high as $10,349 as of press time. Read More: Bitcoin’s Correlation With Gold Hits Record High Related: First Mover: DeFi 'Vampire' SushiSwap Sucks $800M from Uniswap; BitMEX Basis Lags “After the Sept. 2-3 drop, bitcoin has been stuck in a narrow range of $10,100 to $10,500, looking for direction,” said David Lifchitz, chief investment officer for crypto quantitative firm ExoAlpha. “Each drop below $10,000 has been furiously bought, keeping BTC above that,” he added. Over the past week, traders have come in and scooped up sub-$10,000 bitcoin, with $9,800 being a level tested but retraced. While bitcoin is trending upward, the cryptocurrency needs volume to boost it further, Lifchitz added. “This is typical of a wounded asset recovering,” Lifchitz added.” Contrary to traditional assets, there’s no federal printing press to artificially prop up digital assets, only good old demand,” he said. So far Wednesday, demand as measured in volume is relatively flat – a paltry $245 million combined on major spot exchanges according to Skew. This is much lower than a week ago, when spot volumes hit a one-month high of $1 billion. Related: Ether Traders May Be Hedging Against DeFi Slowdown: Analyst John Willock, CEO of digital-asset liquidity firm Tritium, says the ebb and flow in the bitcoin market is simply natural. “This short-term dip down to current levels was a reasonable pullback,” he said. “A steady move upwards in BTC is fully in line with my expectations for the medium-term and through the end of the year.” Story continues Read More: ‘High’ Severity Bug in Bitcoin Software Revealed 2 Years After Fix According to ExoAlpha’s Lifchitz, “Until bitcoin reaches above $10,600, there’s no hope for a retry toward $12,000 anytime soon.” Read More: Huobi Launches Crypto Saving Products to Compete With DeFi Ether volatility up Ether (ETH), the second-largest cryptocurrency by market capitalization, was up Wednesday, trading around $357 and climbing 6% in 24 hours as of 20:00 UTC (4:00 p.m. ET). Read More: Firms Warn of Potential DeFi Scam After $2.5M in ‘Locked’ Cryptos Moved Ether’s one-month realized volatility, a measure of the standard deviation of returns based on historical data, is at 106% on an annualized basis, its highest point since way back on May 6. It is clear that ether is more volatile than bitcoin, which, at 57% one-month realized annualized volatility Wednesday, is at a level consistent with its August volatility numbers. Vishal Shah, an options trader and founder of derivatives exchange Alpha5, said uncertainty surrounding decentralized finance, or DeFi, is helping drive volatility in ether, and not in the derivatives that are usually the culprit in crypto. “I don’t think much of this volatility is driven by ETH optionality, as the market is relatively small,” Shah said. “Rather, it seems to be a byproduct of pent-up disbelief in gas prices and the large rotations in total value locked in DeFI,” he added. Read More: NY AG Asks Court for New Order to Make Bitfinex Turn Over Documents Other markets Digital assets on the CoinDesk 20 are all in the green Wednesday. Notable winners as of 20:00 UTC (4:00 p.m. ET): chainlink (LINK) + 8.3% 0x (ZRX) + 8.2% iota (IOTA) + 8% Read More: Arca to Gnosis: Show Us a Turnaround Plan or Give Investors’ Money Back Equities: In Asia, the Nikkei 225 closed down 1% as a clinical trial pause for a potential coronavirus vaccine damped sentiment in Tokyo . In Europe, the FTSE 100 ended the day up 1.3% as a falling pound, which boosts overseas earnings for multinationals in the index, helped sentiment . In the United States, the S&P 500 climbed 2% as tech stocks made gains, including Microsoft jumping 4.2%. and Apple up 4% . Read More: Court Denies Bitmain $30M in Damages From Co-Founders of Rival Poolin Commodities: Oil is up 3.3%. Price per barrel of West Texas Intermediate crude: $37.96. Gold was in the red 0.90% and at $1,948 as of press time. Read More: DCG Enters Retail Crypto Market With Acquisition of Luno Wallet Treasurys: U.S. Treasury bond yields all climbed Wednesday. Yields, which move in the opposite direction as price, were up most on the two-year, coming in at 4.2%. Read More: Mastercard Platform Enables Central Banks to Test Digital Currencies Related Stories Market Wrap: Bitcoin Makes Headway to $10.3K; Ether Volatility Highest Since May Market Wrap: Bitcoin Makes Headway to $10.3K; Ether Volatility Highest Since May || Business Analytics Firm MicroStrategy To Rely On Bitcoin As Primary Treasury Reserve Asset: MicroStrategy Incorporated (NASDAQ: MSTR ), in a filing with the United States Securities and Exchange Commission on Monday, disclosed that it would adopt a new Treasury Reserve Policy with renewed treasury management and capital allocation strategy. The policy indicates that the company is bullish on Bitcoin and that the open-sourced digital asset would be treated as an important component of the treasury reserve assets. What Happened: In its updated policy, the Virginia-based business intelligence company declared that it would treat Bitcoin as the primary treasury reserve asset on an ongoing basis. This would in turn lead to a higher Bitcoin exposure that is more than the $250 million investment the company reported in an earlier filing in August. Cash, Cash equivalents, and short-term investments above the working capital threshold will also be categorized as a treasury reserve asset. Why Does It Matter: According to a Coindesk report last month, the company expressed its belief that the virtual currency powered by a public blockchain is superior to cash over the long term, claiming it to be a “reasonable hedge against inflation.” At the time, MicroStrategy committed to investing up to $250 million in Bitcoin and gold. MicroStrategy CEO Michael J. Saylor also remarked that the cryptocurrency “is a dependable store of value and an attractive investment asset with more long-term appreciation potential than holding cash.” Price Movement: After a 1.06% price rise during trading hours on Monday, MSTR stock closed at $142.62. See more from Benzinga UBS Chairman Plots Merger With Credit Suisse To Create European Banking Titan: FT 'Very Capable' Team Vetted Nikola Ahead Of B Deal, GM CEO Says Arm Co-Founder On Nvidia Deal: Sale To 'Americans' A 'Disaster' For Europe © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 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 || Ebang International Holdings Inc. Reports Unaudited Financial Results for The First Six Months of Fiscal Year 2020: HANGZHOU, China, Sept. 25, 2020 (GLOBE NEWSWIRE) -- Ebang International Holdings Inc. (Nasdaq: EBON, the “Company,” “we” or “our”), a leading application-specific integrated circuit (“ASIC”) chip design company and a leading manufacturer of high-performance Bitcoin mining machines, today announced its unaudited financial results for the first six months of fiscal year 2020. Operational and Financial Highlights for the First Six Months of Fiscal Year 2020 Total computing power sold in the first six months of 2020 was 0.25 million Thash/s, representing a year-over-year decrease of 86.02% from 1.82 million Thash/s in the same period of 2019. Total net revenues in the first six months of 2020 were US$11.04 million, representing a 50.60% year-over-year decrease from US$22.35 million in the same period of 2019. Gross loss in the first six months of 2020 was US$0.97 million, representing a 94.59% year-over-year decrease from US$17.87 million in the same period of 2019. Net loss in the first six months of 2020 was US$6.96 million compared to US$19.07 million in the same period of 2019. Mr. Dong Hu, Chairman and Chief Executive Officer of the Company, commented, “The outbreak of the COVID-19 has significantly affected business and manufacturing activities worldwide. Measures to contain COVID-19, such as travel restrictions, mandatory quarantines and suspension of business activities have caused severe disruptions and uncertainties to our business operations and adversely affected our results of operations and financial condition. Our chip suppliers have reduced their production capacity due to the impact of the COVID-19, resulting in our shortage of raw materials during the first six months of 2020. Faced with the turbulent social and industrial environment, we have taken timely and proactive measures to ensure the resilience of our business operations and allow us to deliver solid performance after the market condition resumes normal. In light of this, our management has been actively optimizing our revenue structure based on the productivity ratio and strategically exploring expansion into blockchain-enabled financial services.” Story continues Mr. Hu continued, “With the preparatory work we have initiated in Singapore and Canada, we are at an initial preparatory stage of executing our plan to launch blockchain-enabled financial business by establishing cryptocurrency exchange(s) and online brokerage(s) and by combining the blockchain-enabled financial businesses with the traditional ones to capture the entire value chain of the blockchain industry. Marching into these new fields, we are staying true to our mission in strengthening the technological innovation in our products and services to ensure their competitiveness in the market.” Unaudited Financial Results for the First Six Months of Fiscal Year 2020 Total net revenues in the first six months of 2020 were US$11.04 million, representing a 50.60% year-over-year decrease from US$22.35 million in the same period of 2019. The year-over-year decrease in total net revenues were mainly due to the combined impact of COVID-19 and Bitcoin halving event, which significantly affect the expected returns on Bitcoin related activities such as mining, and in turn resulted in a much lower demand and average selling price of our Bitcoin mining machines. Cost of revenues in the first six months of 2020 was US$12.01 million compared to US$40.21 million in the same period of 2019. The year-over-year decrease in cost of revenues were in line with the changes in the Company’s sales and the decrease in inventory write-down. Gross loss in the first six months of 2020 was US$0.97 million, representing a 94.59% year-over-year decrease from US$17.87 million in the same period of 2019. Total operating expenses in the first six months of 2020 were US$7.71 million compared to US$9.60 million in the same period of 2019. Selling expenses in the first six months of 2020 were US$0.45 million compared to US$0.49 in the same period of 2019. The year-over-year decrease in selling expenses was mainly caused by reduced salary and bonus expenses relating to selling activities. General and administrative expenses in the first six months of 2020 were US$7.26 million compared to US$9.10 million in the same period of 2019. The year-over-year decrease in general and administrative expenses was mainly caused by a decrease in research and development expenses due to decreased purchase in materials used for research and development purposes in the six months ended June 30, 2020 compared to the same period of 2019. Loss from operations in the first six months of 2020 was US$8.68 million compared to US$27.47 million in the same period of 2019. Other income in the first six months of 2020 was US$0.02 million compared to US$0.03 million in the same period of 2019. The year-over-year decrease in other income was mainly caused by the decrease in investment income from wealth management products purchased from the banks in the six months ended June 30, 2020. Government grants in the first six months of 2020 were US$2.54 million compared to US$6.18 million in the same period of 2019. The year-over-year decrease in government grants was mainly caused by the decrease of tax rewards from government. Net loss in the first six months of 2020 was US$6.96 million compared to US$19.07 million in the same period of 2019. Net loss attributable to Ebang International Holdings Inc. in the first six months of 2020 was US$6.21 million compared to US$18.11 million in the same period of 2019. Basic and diluted net loss per shares in the first six months of 2020 were both US$0.06 compared to US$0.16 in the same period of 2019. About Ebang International Holdings Inc. Ebang International Holdings Inc. is a leading application-specific integrated circuit ASIC chip design company and a leading manufacturer of high-performance Bitcoin mining machines. The Company has strong ASIC chip design capability underpinned by nearly a decade of industry experience and expertise in the telecommunications business. The Company is one of the few fabless integrated circuit design companies with the advanced technology to independently design ASIC chips, established access to third-party wafer foundry capacity and a proven in-house capability to produce blockchain products*. The Company was also a leading Bitcoin mining machine producer in the global market in terms of computing power sold in 2019*. For more information, please visit https://ir.ebang.com.cn/. * According to an industry report prepared by Frost & Sullivan in 2019 Safe Harbor Statement This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, the Company’s development plans and business outlook, which can be identified by terminology such as “may,” “will,” “expects,” “anticipates,” “aims,” “potential,” “future,” “intends,” “plans,” “believes,” “estimates,” “continue,” “likely to” and other similar expressions. Such statements are not historical facts, and are based upon the Company’s current beliefs, plans and expectations, and the current market and operating conditions. Forward-looking statements involve inherent known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company’s control, which may cause the Company’s actual results, performance and achievements to differ materially from those contained in any forward-looking statement. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the U.S. Securities and Exchange Commission. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement. The Company undertakes no obligation to update or revise the information contained in any forward-looking statements as a result of new information, future events or otherwise, except as required under applicable law. Investor Relations Contact For investor and media inquiries, please contact: Ebang International Holdings Inc. Email: [email protected] Ascent Investor Relations LLC Ms. Tina Xiao Tel: (917) 609-0333 Email: [email protected] EBANG INTERNATIONAL HOLDINGS INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Stated in US dollars) June 30, 2020 December 31, 2019 (Unaudited) ASSETS Current assets: Cash and cash equivalents $ 1,089,933 $ 3,464,262 Restricted cash, current 824,291 2,270,588 Accounts receivable, net 7,546,319 8,128,178 Bank acceptance notes from customers 707,394 - Advances to suppliers 1,191,368 1,062,049 Inventories, net 8,822,464 13,088,542 VAT recoverables 19,859,583 21,954,169 Prepayments 8,493,421 13,272,775 Other current assets, net 219,270 224,452 Total current assets 48,754,043 63,465,015 Non-current assets: Property, plant and equipment, net 20,904,153 13,224,761 Intangible assets, net 3,418,247 3,784,153 Operating lease right-of-use assets 1,125,288 1,280,076 Operating lease right-of-use assets - related party 23,016 37,266 Restricted cash, non-current 21,182 43,317 Other assets 830,338 776,458 Total non-current assets 26,322,224 19,146,031 Total assets $ 75,076,267 $ 82,611,046 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Accounts payable $ 7,173,801 $ 11,832,003 Bank acceptance notes to vendors 1,431,765 - Accrued liabilities and other payables 14,346,108 13,739,041 Loans due within one year, less unamortized debt issuance costs - 4,864,697 Operating lease liabilities, current 687,107 793,521 Operating lease liabilities – related party, current 32,732 37,266 Income taxes payable 841,725 521,648 Due to related parties 6,908,102 6,242,824 Advances from customers 1,662,352 1,015,675 Total current liabilities 33,083,692 39,046,675 Non-current liabilities: Long-term loans – related party 24,113,700 17,632,000 Operating lease liabilities, non-current 461,236 361,747 Total non-current liabilities 24,574,936 17,993,747 Total liabilities 57,658,628 57,040,422 Shareholders’ equity: Common share, HKD0.001 par value, 380,000,000 shares authorized, 111,771,000 shares issued and outstanding as of December 31, 2019 - 14,330 Class A common share, HKD0.001 par value, 333,374,217 shares authorized, 84,409,554 shares issued and outstanding as of June 30, 2020 10,822 - Class B common share, HKD0.001 par value, 46,625,783 shares authorized, 46,625,783 shares issued and outstanding as of June 30, 2020 5,978 - Additional paid-in capital 115,570,313 23,888,023 Subscription receivable (91,684,760 ) - Statutory reserves 11,483,844 11,049,847 Accumulated deficit (14,552,283 ) (7,905,999 ) Accumulated other comprehensive loss (10,131,056 ) (9,066,842 ) Total Ebang International Holdings Inc. shareholder’s equity 10,702,858 17,979,359 Non-controlling interest 6,714,781 7,591,265 Total shareholders’ equity 17,417,639 25,570,624 Total liabilities and shareholders’ equity $ 75,076,267 $ 82,611,046 EBANG INTERNATIONAL HOLDINGS INC. UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Stated in US dollars) For the six months ended June 30, 2020 For the six months ended June 30, 2019 Product revenue $ 4,954,499 $ 15,111,199 Service revenue 6,087,856 7,240,536 Total revenues 11,042,355 22,351,735 Cost of revenues 12,009,303 40,219,588 Gross loss (966,948 ) (17,867,853 ) Operating expenses: Selling expenses 452,608 494,792 General and administrative expenses 7,257,855 9,102,696 Total operating expenses 7,710,463 9,597,488 Loss from operations (8,677,411 ) (27,465,341 ) Other income (expenses): Interest income 12,714 32,111 Interest expenses (579,486 ) (1,315,770 ) Other income 16,080 29,240 Exchange gain 474,488 3,986,019 Government grants 2,541,708 6,184,035 VAT refund - 9,306 Other expenses (16,436 ) (101,999 ) Total other income 2,449,068 8,822,942 Loss before income taxes provision (6,228,343 ) (18,642,399 ) Income taxes provision 735,048 428,596 Net loss (6,963,391 ) (19,070,995 ) Less: net income attributable to non-controlling interest (751,104 ) (959,154 ) Net loss attributable to Ebang International Holdings Inc. $ (6,212,287 ) $ (18,111,841 ) Comprehensive loss Net loss $ (6,963,391 ) $ (19,070,995 ) Other comprehensive loss: Foreign currency translation adjustment (1,189,594 ) 536,529 Total comprehensive loss (8,152,985 ) (18,534,466 ) Less: comprehensive loss attributable to non-controlling interest (125,380 ) - Comprehensive loss attributable to Ebang International Holdings Inc. $ (7,276,501 ) $ (17,575,312 ) Net loss per common share attributable to Ebang International Holdings Inc. Basic $ (0.06 ) $ (0.16 ) Diluted $ (0.06 ) $ (0.16 ) Weighted average common shares outstanding Basic 111,876,848 111,771,000 Diluted 111,876,848 111,771,000 || Marty Bent on Why Bitcoin and Big Energy Are Unlikely Allies: Bitcoin mining can help big energy companies produce more efficiently, increasing American energy independence in the process. For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts , Spotify , Pocketcasts , Google Podcasts , Castbox , Stitcher , RadioPublica , iHeartRadio or RSS . This episode is sponsored by Crypto.com , Bitstamp and Nexo.io . Today on the Brief: Where the digital euro fits in Lagarde’s economic integration plans New stablecoin guidance from the OCC Mnuchin and Powell head to the Hill Our main discussion features Marty Bent. Related: Bitcoin News Roundup for Sept. 23, 2020 Marty is the author of one of the best known daily bitcoin newsletters, as well as the host of “Tales From The Crypt” podcast. He also is one of the leaders of Great American Mining, a new project using bitcoin mining to make big energy more efficient and profitable. In this discussion, we talk about how bitcoin and big energy are unlikely allies, how that alliance can bring more bitcoin mining back to America, and how it is working to reduce America’s energy dependence. See also: ‘I Didn’t Buy It to Sell It. Ever.’ MicroStrategy’s Michael Saylor on His $425M Bitcoin Bet Find our guest online: Twitter: @MartyBent Twitter: @GAMdotAI Website: gam.ai Related: Bitcoin News Roundup for Sept. 22, 2020 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 Marty Bent on Why Bitcoin and Big Energy Are Unlikely Allies Marty Bent on Why Bitcoin and Big Energy Are Unlikely Allies || As Instability Bubbles Up, Square Stock Is a Bet on Whatever the Future Holds: While there are quite a few payment processors on the stock market worth considering, Square (NYSE: SQ ) is one of the best plays out there right now. SQ stock is already up 60% so far this year, but the firm has plenty of growth left in the tank whether the pandemic continues or not. Image of Square (SQ) logo on a mobile phone Source: IgorGolovniov / Shutterstock.com There’s no question that the future of payments is cashless, the novel coronavirus pandemic has only accelerated that trend. The beauty of SQ stock is that it’s neither a pandemic play nor a return to normalcy play— in either outcome, Square comes out on top. Of course, the firm’s many small business customers need consumers to get back out there spending, and a big part of that will be the pandemic coming under control. But on the flip side, if things continue to worsen, Square’s cashless payment platform and website management tool will be an invaluable tool that businesses need to survive the Covid-19 era. InvestorPlace - Stock Market News, Stock Advice & Trading Tips A Closer Look at SQ Stock There are a lot of reasons to like SQ stock, but one reason the firm stands out is its all-encompassing ecosystem. The firm has expanded its service offerings to include everything from running a website to payroll management. 9 Gold Stocks to Buy That Still Have Room to Run Square is even setting itself up as a small business lender . It’s the kind of tool that businesses get stuck into and that’s a good thing for Square’s future growth. Not only does it mean customers are likely to continue using Square, but it gives the firm a pool of eager customers to sell to as new products become available. The Square ecosystem also gives the firm an edge of offering small business loans because the firm has access to much more reliable data than a traditional lender. Square has access to real-time sales data that will give the company an accurate picture of its lending risks . Not only is that helpful for businesses that might otherwise have struggled to qualify for a loan, but it also helps square cut down on the number of risky loans it makes. Story continues Catalysts for Square It’s impossible to talk about Square’s future success without mentioning Cash App, its new peer-to-peer payment and investing tool that has taken off in recent months. Notably, nearly half of Square’s quarterly profits came from Cash app, which has taken off in popularity due to the pandemic. The sudden spike in day trading due to the pandemic has been a boon for Cash App. Since it began offering the service for users, the firm says investing tools have been the fastest growing service within Cash app. Cash app also allows users to buy and sell Bitcoin, another service that has seen a ton of growth in recent months. For now, Cash app users are simply buying and selling the cryptocurrency as an investment much like gold and SQ takes a commission. But if bitcoins do make a resurgence as a payment method as many are expecting, Square will be primed and ready to jump on that trend. For now, Bitcoins aren’t used as a payment option through Square, but that could easily be changed in the future. The Bottom Line on Square Square is a game-changer for small businesses and its Cash app has significantly expanded the firm’s growth opportunities. The company’s well-rounded business and position within several high-growth segments makes it a worthwhile buy for long-term investors. Square’s position in segments that stand to benefit with or without the pandemic make it a unique defensive play in a time of extreme uncertainty. While the stock has already had a massive run-up so far this year, there’s no harm in starting to build a position and adding to it during pullbacks. Matthew McCall left Wall Street to actually help investors — by getting them into the world’s biggest, most revolutionary trends BEFORE anyone else. The power of being “first” gave Matt’s readers the chance to bank +2,438% in Stamps.com (STMP), +1,523% in Ulta Beauty (ULTA) and +1,044% in Tesla (TSLA), just to name a few. Click here to see what Matt has up his sleeve now . Matt does not directly own the aforementioned securities. More From InvestorPlace Why Everyone Is Investing in 5G All WRONG America’s #1 Stock Picker Reveals His Next 1,000% Winner Revolutionary Tech Behind 5G Rollout Is Being Pioneered By This 1 Company Radical New Battery Could Dismantle Oil Markets The post As Instability Bubbles Up, Square Stock Is a Bet on Whatever the Future Holds appeared first on InvestorPlace . || Asian Shares Mixed; Nikkei Jumps Over 2 Percent after Yen Plunge, Shanghai Boosted by Manufacturing PMI: The major Asia-Pacific stock indexes finished mixed on Monday but mostly lower with both the Nikkei and Shanghai indexes posting more than 1.50% gains while the others sputtered. Japanese shares snapped six consecutive sessions of losses on Monday after the Yen retreated from a 4-1/2-month high against the dollar. Chinese stock jumped as key manufacturing data came in above expectations. On Monday, Japan’s Nikkei 225 Index settled at 22195.38, up 485.38 or +2.24%. Hong Kong’s Hang Seng Index closed at 24458.13, down 137.22 or -0.56% and South Korea’s KOSPI Index finished at 2251.04, up 1.67 or -0.07%. China’s Shanghai Index settled at 3367.97, up 57.96 or +1.75% and Australia’s S&P/ASX 200 Index closed at 5926.10, down 1.70 or -0.03%. China’s Factory Activity Expanded Sentiment was helped by a survey showing China’s factory activity expanded at the fastest pace in nearly a decade in July, with the Caixin/Markit PMI at 52.8, above expectations for a reading of 51.3 by economists in a Reuters poll. PMI readings above 50 signify expansion, while those that fall below that figure indicate contraction. US-China Tensions Remain at Forefront Tensions between Washington and Beijing likely continued being watched by investors, with U.S. Secretary of State Mike Pompeo saying Sunday that U.S. President Donald Trump is set to announce “in the coming days” new actions related to Chinese software companies viewed by his administration as a national security threat. On Friday, Trump told reporters he will act soon to ban Chinese-owned video app TikTok from the U.S., according to NBC News. Microsoft on Sunday confirmed it has held talks to buy TikTok in the U.S. from Chinese tech firm ByteDance. Nikkei Rebounds on Wall Street Gains, Yen’s Retreat Japanese shares ended six straight sessions of losses on Monday after the Japanese Yen retreated from a 4-1/2-month high against the dollar in a short squeeze. Exporters got a boost as the Yen fell to a low of 106.40 Yen against the dollar, moving away from a high of 104.195 yen touched on Friday. Story continues Hang Seng Dragged Down by HSBC First-Half Profits Miss HSBC reported a 65% fall in pre-tax profits for the first half of 2020 to $4.3 billion – missing analysts’ expectations. Chief Executive Noel Quinn said the bank was “impacted by the COVID-19 pandemic, falling interest rates, increased geopolitical risk and heightened levels of market volatility.” HSBC shares in Hong Kong tumbled by more than 3% when trading resumed after a lunch break. 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: The Trifecta of Key Signals for Gold Miners GBP/USD Price Forecast – British Pound Testing Major Figure Natural Gas Price Fundamental Daily Forecast – Expectations of Higher Export Demand, Possible Heat Supportive What To Expect After Walt Disney Earnings USD/JPY Price Forecast – US Dollar Grind Higher Bitcoin Shots to A New Yearly Highs in July || The Crypto Daily – Movers and Shakers – September 25th, 2020: Bitcoin, BTC to USD, rallied by 4.75% on Thursday. Reversing a 2.72% fall from Wednesday, Bitcoin ended the day at $10,754. It was a mixed start to the day. Bitcoin fell to an early morning intraday low $10,222.0 before making a move. Steering clear of the first major support level at $10,092, Bitcoin rallied to a late intraday high $10,842.0. Bitcoin broke through the first major resistance level at $10,495 and the second major resistance level at $10,726. In spite of a bearish end to the day, Bitcoin avoided a fall back through the second major resistance level. The near-term bullish trend remained intact, in spite of the latest pullback. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend. The Rest of the Pack Across the rest of the majors, it was a bullish day on Thursday. Chainlink led the way, surging by 29.25%. Binance Coin (+7.75%), Cardano’s ADA (+7.98%), and Ethereum (+8.89%) also saw solid gains. Bitcoin Cash ABC (+4.10%), Bitcoin Cash SV (+4.08%), Crypto.com Coin (+0.07%), Litecoin (+4.66%), Polkadot (+4.16%), and Ripple’s XRP (+5.23%) saw relatively modest gains on the day. In the current week, the crypto total market rose to a Monday high $334.04bn before sliding to a Wednesday low $300.97bn. At the time of writing, the total market cap stood at $320.94bn. Bitcoin’s dominance fell to a Monday low 60.89% before rising to a Wednesday high 62.31%. At the time of writing, Bitcoin’s dominance stood at 61.68%. This Morning At the time of writing, Bitcoin was down by 0.21% to $10,731.0. A mixed start to the day saw Bitcoin rise to an early morning high $10,774.0 before falling to a low $10,708.0. Bitcoin left the major support and resistance levels untested early on. Elsewhere, it was a mixed start to the day. Binance Coin (+0.40%), Cardano’s ADA (+3.12%), Crypto.com Coin (+2.05%), and Chainlink (+0.38%) bucked the trend early on. It was a bearish start for the rest of the majors, however. Story continues At the time of writing, Bitcoin Cash SV was down by 1.50% to lead the way down. For the Bitcoin Day Ahead Bitcoin would need to avoid a fall through the $10,606 pivot level to support a run at the first major resistance level at $10,990. Support from the broader market would be needed, however, for Bitcoin to break out from Thursday’s high $10,842.0. Barring an extended crypto rally, the first major resistance level would likely cap any upside. In the event of a crypto breakout, Bitcoin could test resistance at $11,200 before any pullback. The second major resistance level at $11,226 would likely cap any upside, however. Failure to avoid a fall through the $10,606 pivot would bring the first major support level at $10,370 into play. Barring another extended crypto sell-off, however, Bitcoin should steer clear of sub-$10,500 levels. The second major support level sits at $9,986. This article was originally posted on FX Empire More From FXEMPIRE: The Crypto Daily – Movers and Shakers – September 25th, 2020 Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – September 25th, 2020 Natural Gas Price Forecast – Natural Gas Continues to Show Strength Asia Pacific Indexes Chase Wall Street Higher in Early Trade on Friday Crude Oil Price Forecast – Crude Oil Markets Still Quiet E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis – Watching 26685 – 26714 into Close || Ethereum miners’ revenue touched almost a two-year high in July: Ethereum miners generated $143.8 million in revenue in July, representing a 23-month high, according to The Block Research.
Transaction fees made a chunk, nearly 23%, of Ethereum miners' revenue during the month, asnotedby The Block's Larry Cermak in his latest report. In May, transaction fees accounted for only 10% of Ethereum miners' revenue.
Source: Coin Metrics, The Block ResearchBitcoin miners, on the other hand, generated $299 million in total revenue in July — that is almost twice of Ethereum miners' revenue. Bitcoin transaction fees saw a slight increase to 8% in July as compared to over 4% in June.Last month, bitcoin miners' revenuetoucheda 15-month low due to halving that took place in May. The bitcoin halving cut the per-block subsidy from 12.5 BTC to 6.25 BTC.
To read thefull July reportand more such data-driven stories, 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. || USD/JPY Price Forecast – US Dollar Get Hammered Against Japanese Yen: TheUS dollarhas fallen against the Japanese yen during the trading session on Tuesday, reaching down towards the 105.25 level by the time New York got on board. The 105 level in this pair is particularly interesting, as it has been massive support. However, when you look at the market from a longer-term standpoint, you can see that we are in fact trying to form a descending triangle based upon that area of sorts. If we do break down below the 105 level, it is likely that we go down to the 104.33 level.
On the upside, the 50 day EMA continues offer plenty of resistance, so I think rallies at this point will continue to be sold into. Signs of exhaustion should be looked at with an eye on opportunity because rallies have failed consistently. However, if we break above the 50 day EMA, there are multiple areas where there is significant resistance. The 107 level is significant resistance, just as the 107.50 level seems to be structurally resistant not only due to the previous price action there, but the fact that we have a 200 day EMA crossing lower below there, which makes people pay attention.
Overall, I do not really like buying this pair, even though you can make a strong argument for this market bouncing from the 105 region. If that happens again, then I will simply be looking for selling opportunities on signs of exhaustion, as that set up has worked out quite nicely and at this point in time it does not look like anything has changed.
For a look at all of today’s economic events, check out oureconomic calendar.
Thisarticlewas originally posted on FX Empire
• USD/JPY Price Forecast – US Dollar Get Hammered Against Japanese Yen
• Bitcoin Breakout While Ethereum Consolidates
• Dollar Slips as Market Mood Improves
• Silver Price Daily Forecast – Silver Moves Towards Resistance At $27.75
• AUD/USD Price Forecast – Australian Dollar Grind Higher
• DraftKings Breaks Out To New High
[Random Sample of Social Media Buzz (last 60 days)]
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Trend: no change || Prices: 10750.72, 10775.27, 10709.65, 10844.64, 10784.49, 10619.45, 10575.97, 10549.33, 10669.58, 10793.34
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
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[Random Sample of News (last 60 days)]
Bitcoin Up 27% in First Half of 2020, Beating Gold, Silver and Platinum: Bitcoin showed its luster during the first half of 2020 by rallying more than 27% percent amid mediocre returns from precious metals including gold, silver and platinum. Gold underperformed bitcoin by nearly 11 percentage points despite gaining 16 percent in the first half of 2020 and making eight-year highs in late June. Silver and platinum both finished the first half of 2020 with negative gains. Bitcoins strong performance is no shock to some analysts, especially in context of the benchmark cryptocurrencys increasing correlation with equity markets. Given that equities are now near, or in some cases above, their highs reached in February, its not surprising to see bitcoin do the same, said Ryan Watkins, bitcoin analyst at Messari. Related: Crypto Exchanges See Big Drop in Volumes as Bitcoin Volatility Approaches 2020 Low Why compare returns from bitcoin to gold or other precious metals? Gold is bitcoins most aspirational asset, explained Watkins. Like bitcoin, gold is a scarce commodity whose value is derived almost entirely from its monetary premium. Unlike gold, however, bitcoin investors have historically experienced more extreme volatility. Silver and platinum were also much more volatile than gold through the first half of 2020. Bitcoin and gold could be seen more like complementary investments than competitives ones based on their performance over the past six months, said David Lifchitz, managing partner at Paris-based quantitative cryptocurrency trading firm ExoAlpha. Given bitcoins historic volatility, holding digital and physical gold together could provide a better risk-return profile than holding either of them individually, said Lifchitz. See also: Bitcoin Sees Small Gain as Gold Rallies to One-Month High Related: Market Wrap: As Stocks Rally, Bitcoin Trades Above $9.3K for the First Time in 10 Days Investors typically adjust their portfolios based on the amount of risk required to achieve a certain return. Increased returns often bring with it higher volatility or risk. Depending on how assets correlate, though, a properly weighted portfolio can achieve a higher expected return with a lower level of risk than would be found in a portfolio containing just one asset. Story continues Investing in bitcoin and the less-volatile gold during the first half of 2020 could have reduced an investors risk without sacrificing returns, Lifchitz told CoinDesk. Equal investments in gold and bitcoin, for example, could have more or less matched returns from an investment only in bitcoin while suffering less of a drawdown in March, Lifchitz explained. But risk-adjusted returns from bitcoin and gold over the last six months may not hold true going forward, said Lifchitz. For one thing, the cryptocurrency market has grown eerily quiet over the past few weeks as bitcoins volatility has plummeted . A Bloomberg July report on bitcoin noted bitcoins 260-day volatility is at the lowest versus the same gold-risk measure since the crypto assets parabolic 2017 rally. Senior commodity strategist Mike McGlone, who authored the report, said, Volatility should continue declining as bitcoin extends its transition to the crypto equivalent of gold from a highly speculative asset. See also: Crypto Long & Short: Is Bitcoin More Like Gold or Equities? Bitcoins dropping volatility to historic lows could quickly change directions, however. McGlone described bitcoin as a resting bull ready for a breakout, adding, We expect recent compression to be resolved via higher prices. Related Stories Bitcoin Up 27% in First Half of 2020, Beating Gold, Silver and Platinum Bitcoin Up 27% in First Half of 2020, Beating Gold, Silver and Platinum || Crypto VC Chiefs Talk COVID-19 Recovery, Bitcoin Upside at Real Vision Conference: Pantera Capital CEO Dan Morehead and 10T Holdings cofounder Dan Tapiero traded conflicting views of the economic recovery at the Real Vision virtual crypto summit Tuesday.
• The crypto space investment chiefs, both “die-hard macro guys,” disagreed on where COVID-19 is leading the economy, with Morehead projecting a “lingering” recession and Tapiero saying he hasn’t been this bullish since 2012.
• They both agreed, however, that this environment will be good forbitcoin.
• Central bankers’ unrelenting money printing may well boost fixed quantity assets, said Morehead. “It just seems inevitable that the global macro tsunami of paper money is gonna float a lot of boats,” he said.
• Both said Paul Tudor Jones’ recent bitcoin advocacy signaled a strong investment opportunity to the markets. Even so, Tapiero said the legendary macro trader still has a ways to go before he grasps bitcoin’s systemic value.
• “We’ve just got to wait until more people adopt [bitcoin] and the network effect increases, and we’re at a good spot to take advantage,” said Tapiero.
• Crypto VC Chiefs Talk COVID-19 Recovery, Bitcoin Upside at Real Vision Conference || ETH Lite: Reflexer Labs Raises $1.7M to Build a Somewhat-Stable Coin for DeFi: Call it a gentlecoin, perhaps? A new decentralized finance (DeFi) project aimed at softening volatility has closed a $1.68 million seed round led by Paradigm, with participation from Standard Crypto, Compound founder Robert Leshner and Variant Fund , from a16z alum Jesse Walden. Reflexer Labs is building a new asset called rai (RAI) thats meant to follow the price movements of ether (ETH) but more gradually. Related: Market Wrap: Bitcoin Trudges Past $11.7K as DeFi Lending Rates Gyrate I think RAI will be extremely useful for protocols. A form of collateral that will help users not get liquidated that much, Stefan Ionescu, the projects CEO, told CoinDesk in a phone call. Or, as Paradigm partner Charlie Noyes, put it: Self-correcting mechanisms are an elegant method of efficiently managing protocols. Reflexer is taking this approach to build the first trustless stable asset administered by algorithms rather than manual governance. RAI is generated much like its namesake, dai (DAI): Users stake an asset, ETH, to the system to borrow a new crypto asset. Related: DeFi Traders Are Gaming Ethereum for Higher Profits, Researchers Say But where DAI attempts to match the price of a U.S. dollar, RAI does not. RAI targets a redemption rate relative to its underlying asset but stripping out much of the volatility (the precise proportion hasnt been specified). So, if over a three-month period, ETH generally trended up but with some stomach-churning drops along the way, RAI would just generally trend up, with maybe only some slight stumbles (this also means that RAI holders would miss hard upward spikes, too, as it calms all movements). Read more: Five Years In, DeFi Now Defines Ethereum The idea is the system has kind of an index inside it, explained Reflexers Ionescu. Its a number called the redemption price. Its the ideal price for RAI at any time. Story continues Think of it this way: DeFi on Ethereum is a whitewater river with sections of Class 5 rapids for those who want them; Reflexer is the Army Corps of Engineers smoothing out a nice stretch that never breaks Class 3. Steady now The long view here is to give DeFi an asset for collateral that has both the qualities of price stability (if not full rigidity) and decentralization. ETH has fared very well this year but it had one wild swing in March . While it took the ETH price six weeks to recover, the most acute pain was felt by those who had staked ETH to borrow DAI on MakerDAO. Over $8 million was lost in manipulated collateral liquidations . If RAI had been in the mix on Black Thursday (March 12), its backers say, it could have eased some of the pain. Read more: Mempool Manipulation Enabled Theft of $8M in MakerDAO Collateral on Black Thursday: Report RAI actually aims to bring a well-established technology from electrical and mechanical engineering into crypto. A proportionalintegralderivative controller is a well-worn, proven technology based on control theory that helps different systems maintain consistency. One of the things thats exciting to us as investors in the project is this is the first time elements from control theory in engineering will be embedded in smart contracts, Alok Vasudev of Standard Crypto told CoinDesk in a phone call. The specifics remain to be determined but Reflexers product will use oracles to monitor the price of RAI and the price of ETH. If RAI doesnt match the target price, the system can fine-tune the amount of RAI it takes to pay back debt. This can expand and contract the supply as needed to return to the target. Since this is a delayed reaction there will still be shifts in price but they should be more gradual, giving users time to adjust, whether they are using RAI in a loan or as collateral on a DeFi platform. Building The new seed round will enable Reflexer to begin modeling its ideas and determine the optimal mechanics before deploying a live system. While not committing to a launch date, Ionescu hopes that if all goes well it should appear in 2021. SpankChain founder Ameen Soleimani is a co-founder of Reflexer Labs, Ionescu told CoinDesk, assisting with growth efforts on a part-time basis. In February, Soleimani released a concept called MetaCoin , for a governance-minimized stablecoin. He wrote at the time: In light of MakerDAOs recent upgrade to Multi-Collateral DAI (MCD) and decision to abandon ETH as the sole form of collateral (thereby introducing counter-party risk for offchain assets), its worth considering what a governance minimized, ETH-only system might look like. RAI has evolved from the initial idea of MetaCoin, but it meets some of the objectives detailed therein. In particular, that of eschewing the use of centralized cryptocurrencies like USDC as a collateral and limiting the powers of human governors. Read more: MakerDAO Adds USDC as DeFi Collateral Following Black Thursday Chaos Ultimately Reflexer will need to deploy some kind of token, similar to MakerDAOs MKR, with limited control powers in order to fully decentralize, Ionescu said. Ninety-plus percent of the system will be completely closed off and humans wont be able to change anything, he said. Related Stories ETH Lite: Reflexer Labs Raises $1.7M to Build a Somewhat-Stable Coin for DeFi ETH Lite: Reflexer Labs Raises $1.7M to Build a Somewhat-Stable Coin for DeFi || Grayscale files Ethereum Trust for SEC reporting company status: Crypto asset manager Grayscale has filed for its Ethereum Trust to become a Securities and Exchange Commission (SEC) reporting company, according to a Thursday announcement . The firm has filed a Form 10 with the regulator registering its shares in hopes of adding another registered crypto investment vehicle to its offerings. Grayscale's Bitcoin Trust (GBTC) already has reporting company status, nabbing an approval earlier this year. While it wouldn't change the structure of the existing product, it would require Grayscale file quarterly and annual reports with the SEC in addition to its current reporting requirements. Additionally, a reporting company seal of approval means investors would have an earlier liquidity opportunity as the holding period for shares cuts from a year to six months. Grayscale gained FINRA approval to list shares of its Ethereum Trust (ETHE) in May of last year. The ETHE and GBTC products are both popular crypto products on the over-the-counter markets, with the Ethereum Trust trading over 400% premium to net asset value (NAV) from March to June. It's steadily declined since June highs reaching 900%. © 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. || 2020 Daily Trail Markers: Could Election Day become "Election Week"?: Election officials across the country and in key battleground states say there could be a delay in reporting election night results in November given the likely surge in mail-in absentee ballots due to the coronavirus pandemic, reports CBSN politics reporter Caitlin Huey-Burns. Citing data from recent primaries, officials and election experts anticipate that more voters will cast their ballots by mail in this election than in years past and say the public should prepare now for the possibility of delays, so as not to undermine the integrity of the election results. "We need to be talking about "Election Week," not Election Day," former Homeland Security secretary and Republican Pennsylvania Governor Tom Ridge told CBS News. "We've seen an unprecedented request for absentee ballots and it may take a little longer." Ridge is the co-chair of the new bipartisan group, VoteSafe. While five states conduct their elections entirely by mail and 29 states don't require an excuse to vote absentee, not all states are equipped to process the huge uptick in ballots as quickly. New York City election officials are still in the process of counting ballots from the June 23 primary, which took place three weeks ago. One major issue is that many states aren't allowed to even begin opening returned ballots before Election Day on November 3, putting extra burdens on Election Day workers. In Wisconsin, Michigan, and Pennsylvania — all states that flipped from Democratic to Republican in 2016 by thin margins, fueling Donald Trump's win — officials are urging their state legislatures to pass bills that would allow them to open and process ballots before Election Day. Without it, they say campaigns could be waiting awhile for results. Read more here . FROM THE CANDIDATES JOE BIDEN Joe Biden's Twitter account Tuesday evening was one of several accounts apparently hacked, with each account sent out a tweet linking to a donation page for Bitcoin. This message was tweeted to Biden's 6.9 million followers. Former President Obama's account — with more than 120 million followers — also sent out a similar message, as did giant companies like Apple. Biden's campaign tells CBS News campaign reporter Bo Erickson: "Twitter locked down the account immediately following the breach and removed the related tweet. We remain in touch with Twitter on the matter." Story continues Biden indicated he is making some administrative progress in choosing his running mate, Erickson reports. "We're getting closer. The background checks that have been done are coming to a conclusion within the next week to ten days," Biden told KPNX in Phoenix. The campaign vetting committee has been thumbing through personal, employment and business records of the approximately 10 women under consideration. CBS News has been told there have not been any candidates cut, beyond previous contenders like Minnesota Sen. Amy Klobuchar and Nevada Sen. Catherine Cortez Masto, who took themselves out of consideration. But Biden said he expected to potentially narrow the list this month before one-on-one interviews. An announcement is expected in early August. DONALD TRUMP The Trump campaign pushed out a new 30-second advertisement billing Joe Biden and his campaign platform as "unsafe for America." T he video copy reads in part , "Eliminating cash bail. Letting criminals back on the street. Violent crime exploding. Innocent children fatally shot. Who will be there to answer the call when your children aren't safe?" And while public polling shows Mr. Trump trailing former Vice President Joe Biden , Trump aides insist campaign internal numbers show Mr. Trump in competitive standing against a "defined Joe Biden." CBS News campaign reporter Nicole Sganga reports Wednesday's ad aims to shape public perception of the presumptive Democratic nominee. According to Kantar/CMAG tracking, the ad first aired Wednesday morning in Dayton. To date, the Trump campaign has already spent more than $2.2 million on TV ads in Ohio, reports CBS News associate producer Sarah-Ewall Wice. He also has another nearly $18.5 million in TV ads already reserved in Ohio through the fall. The Trump campaign has currently spent more on ad reservations in Ohio than in any state except Florida. The Trump campaign also has more than $10 million in TV ad reservations in North Carolina, Pennsylvania, Minnesota and Michigan leading up to the election so far. Vice President Pence weighed in on Republicans' ever-evolving plans for its nominating convention, Wednesday. "I can tell you it is a work in progress," Pence remarked in a Trump campaign call with reporters. "The president has indicated we will be flexible. We will continue to consult with Mayor Curry and other local health officials and Governor DeSantis, as we move forward. There's consideration being given of having the convention in an outdoor setting. And also, putting the kind of measures in place that put the health of all of those participating – our delegates, visitors and anyone else that's present – We'll put the health of everyone participating first." Pence told CBS News correspondent Nikole Killion to expect more GOP convention announcements from the Trump campaign in "forthcoming days." STATE-BY-STATE GEORGIA President Trump visited Atlanta, Georgia Wednesday for a non-campaign event, but like recent official trips to Arizona, Michigan and Wisconsin, this visit happens to be to a battleground state his reelection campaign is eager to keep in the "win" column in November, reports CBS News associate producer Eleanor Watson. The latest CBS News Battleground Tracker poll rates Georgia as a toss-up for the presidential election; currently, Biden leads Mr. Trump by two points. Georgia voters have not picked a Democrat to be president since 1992, but the gains Democrats have made in recent elections with key groups have turned it into a state to watch. In addition to the presidential race, there are two Senate races this fall. Republican Senator David Perdue is facing reelection, and Senator Kelly Loeffler is facing a slew of candidates including Rep. Doug Collins, an ally of the president, in a special election. Perdue, Loeffler, and Collins all attended the event with the president in Atlanta this afternoon. CBS News Campaign Reporter Tim Perry reports some Georgia Democrats had low expectations before Mr. Trump began his trip to the state. During an interview Tuesday night, Atlanta Mayor Keisha Lance Bottoms said she would be "shocked," if the president kept to his infrastructure message, and challenged the president to put in place federal guidelines to help combat COVID-19. "We are lacking leadership. Now, what I would say to President Trump is please allow the experts to speak, to give us sound information without you countering their information and allow this country an opportunity to get to the other side." Others, including Stacey Abrams, a 2018 Georgia gubernatorial candidate and the Founder of the voting rights organization Fair Fight, Savannah Mayor Van Johnson and the Georgia Democratic Party Chair Woman Nikema Williams hosted a virtual press conference and blasted the president for his response to the coronavirus crisis in Georgia. "We know that the health impacts of coronavirus are only the first of the challenges in the midst of this public health crisis," Abrams said. "We are also watching an economic collapse and Trump's corrupt recovery has repeatedly favored a very few well connected friends at the expense of working families and small businesses, particularly leaving Black Americans to bear the worst of his cratering economy." To date, Georgia has had over 100,000 cases of coronavirus and more than 3,000 coronavirus deaths. OHIO Ohio Secretary of State Frank LaRose announced a partnership with Ohio craft breweries for a voter registration campaign, reports CBS News campaign reporter Jack Turman. He said over 30 craft breweries have joined the partnership, called "Raise a Glass to Democracy." Beer bottle labels will include the voter registration deadline, which is October 5. LaRose noted that in addition to voter registration campaigns, he has been focused on poll worker recruitment. "If we don't have 35,000 Ohioans to staff our polling locations, we won't be able to open them all," LaRose said. "That could result in inconveniences for voters. That's something we don't want to see." Four Ohio state House Democratic lawmakers sent a letter to LaRose pushing him to include pre-paid postage for absentee ballot application forms and for absentee ballots. "With cases of COVID-19 rising, continued inadequate testing, protective gear shortages, and slowdowns at the Post Office, voters are fearful," the letter says. "We are in a crisis and the window to solve it is closing. You must act." LaRose said he "would love to provide postage paid on absentee ballot return envelopes in the state of Ohio," but that requires approval from the legislature. Democratic state lawmakers say LaRose already has the authority to enact this reform. PENNSYLVANIA Joe Biden leads President Donald Trump by 13 points in the crucial battleground state of Pennsylvania, according to a Monmouth University poll released Wednesday. CBS News campaign reporter Zak Hudak reports the survey found that 53% of registered voters support Biden while 40% support Trump in the state. In the 10 counties where the count was closest in the 2016 presidential election, Biden holds an even greater lead, the poll found. But over half of the voters who participated said they think their communities have "secret voters" who plan to vote for Mr. Trump, but don't talk about it. Only a quarter said they believed Biden has similarly silent supporters. A Monmouth poll in August 2016 put Mr. Trump 8 points behind Hillary Clinton in Pennsylvania. Mr. Trump ended up winning there by fewer than 50,000 votes. "The media consistently reports that Biden is in the lead, but voters remember what happened in 2016. The specter of a secret Trump vote looms large in 2020," said Patrick Murray, director of the independent Monmouth University Polling Institute, in a report on the poll. This latest poll found that voters in the state are split on who they expect to win the presidential contest there. BY THE NUMBERS POLLS, POLLS, POLLS A new Quinnipiac Poll shows Joe Biden with a widening lead nationally in his head-to-head matchup with President Trump, reports CBS News associate producer Sarah Ewall-Wice. The former vice president is polling at 52% among registered voters to Trump's 37%. That's up from his 49% to 41% lead over the president in the same poll in mid-June. Biden's lead is aided by independent voters who support him 51% to Trump's 34% according to the new poll. Biden is also gaining ground in terms of how registered voters view him on the issues. The poll found him leading Trump on handling a crisis 57% to 38%, on health care 58% to 35%, on a coronavirus response 59% to 35%, and addressing racial inequality 62% to 30%. The polling also nearly reversed where voters viewed Biden versus Trump on handling the economy. In June, Trump was ahead 51% to 46%, but now Biden is up on that issue, 50% to 45%. AD WARS PAC ATTACK Priorities USA announced Wednesday it's investing $24 million in a mobilization and vote-by-mail effort targeting Black and Latino voters in battleground states, reports CBS News associate producer Sarah Ewall-Wice. Ahead of the November election, the pro-Democrat group has set its sights on Arizona, Florida, Michigan, North Carolina, Pennsylvania and Wisconsin. According to Chairman Guy Cecil, this is the largest effort Priorities USA has undertaken since it was founded, and vote-by-mail is taking particular importance as voters could still be facing coronavirus related health concerns later this year. "We want to make sure that that access to the ballot, especially in the context of an outbreak in the fall, is available to every single American and in particular those that are typically underrepresented in civic life," Cecil said. Priorities USA stated that its polling as well as the recent primaries across the country have indicated high interest in vote-by-mail. As part of its effort, Priorities USA plans to use its digital infrastructure for a combination of education on vote-by-mail and mobilization to get voters to fill out applications and then follow up with them digitally. "Our role in this, in terms of vote-by-mail will be building out a large, aggressive digital operation that can drive people to fill out their ballot, but also to inform them and to deal with any misinformation from the Republican side," Cecil said. CONGRESSIONAL COVERAGE IN THE SENATE In Tuesday's primaries, former Auburn Football Coach Tommy Tuberville beat former Attorney General Jeff Sessions in the Republican Senate primary runoff in Alabama. Tuberville will go on to face Democrat Senator Doug Jones, considered the most vulnerable Democrat on the map in 2020. In Texas, Air Force veteran MJ Hegar beat State Senator Royce West and will face GOP Senator John Cornyn in November, reports CBS News associate producer Eleanor Watson. And in Maine, House Speaker Sara Gideon won the Democratic primary and will face GOP Senator Susan Collins in the general election. IN THE HOUSE Texas Texas had fifteen U.S. House runoffs on Tuesday, and unlike recent primaries, almost all of them had a winner by Wednesday morning. CBS News political unit broadcast associate Aaron Navarro reports the outlier is the GOP runoff in Texas' 23rd, where the gap between the two candidates is only 7 votes. Tony Gonzales, backed by Mr. Trump and the district's outgoing Congressman Will Hurd, holds the advantage so far over Raul Reyes Jr. and declared victory on Twitter Wednesday. Reyes Jr. wrote on a Facebook post the "race is far from over" and that there are still absentee, overseas and military ballots to be counted. Both Gonzales (Navy) and Reyes Jr. (Air Force) are veterans. Absentee ballots postmarked by 7 p.m. election day are accepted until 5 p.m. Wednesday, while military and overseas ballots have to be received by July 20. Notable winners from Tuesday include former White House physician Ronny Jackson, who won his Republican runoff in Texas' 13th District, a safely Republican district. Congressman Mac Thornberry, who holds the seat and is retiring, had endorsed Jackson's opponent Josh Winegarner. Former Congressman Pete Sessions, who lost in 2018 to Democrat Colin Allred in the 32nd District, won the runoff for the 17th District against Renee Swann. Sheriff Troy Nehls won the Texas 22nd Republican runoff against Kathaleen Wall, who spent more than $8 million on the race. He'll face Democrat Sri Preston Kulkarni for this Houston-area seat. Among Democrats, Candace Valenzuela won against retired Air Force Colonel Kim Olson in Texas' 24th, and if she wins in November against Republican Beth Van Duyne in this competitive Dallas-metro seat, would be the first Afro-Latina to serve in Congress. Progressive Mike Siegel won against a more moderate candidate in Texas' 10th, and will face Republican Michael McCaul in the general. The Texas Democratic Party says Tuesday's turnout set a record high for Democratic runoffs in the state, with 955,735 in total showing up. The previous record was in 1994, where 746,000 showed up. Kansas On Tuesday night, Republican Congressman Steve Watkins was charged with voter fraud related to the state's November 2019 elections. Watkins, who represents Kansas' 2nd District, faces three felony charges and a misdemeanor. The charges stem from a December 2019 investigation over Watkins using the address of a UPS Store in Topeka, Kansas, as his residential address on a voter registration form. Watkins' charges were announced less than an hour before his Republican primary debate, and less than a month before the state's August 4 congressional primaries. At the debate, Navarro reports that he called the charges "clearly hyper-political" and "very suspicious." He also said he hasn't yet seen the specific charges and that he looks "forward to setting the record straight." Democrats running include Topeka Mayor Michelle De La Isla, and University of Kansas graduate teaching assistant James Windholz. Republicans LaTurner and former county commissioner Dennis Taylor are challenging Watkins for the primary. GOVERNOR'S MANSION A Gallup poll found that Republican governors are seeing a slight decline in approval ratings over their handling of COVID-19, while levels for Democratic governors remain steady. Forty-three percent of respondents to its early July poll thought their Republican governor "communicated a clear plan of action," down from 54% in early June. The rating for Democrats dropped from 66% in early June to 65% in this newest poll. The slight drop comes as several Sun Belt states (Florida, Texas and Arizona) ran by Republican Governors are seeing high spikes in COVID-19 cases. In Oklahoma, Governor Kevin Stitt revealed he has tested positive for COVID-19 on Tuesday. CBS News digital reporter Melissa Quinn reports Stitt said it wasn't likely caused by attending the Trump campaign rally in Tulsa on June 20. "It's too long ago for it to be dormant based on the science," he said during a virtual press conference. Meanwhile in Missouri, Navarro says the race between Republican Governor Mike Parson and Democrat State Auditor Nicole Galloway is heating up. A poll showed Galloway down two points, and Galloway's campaign announced she raised $1.1 million, compared to Parson's $481,641.07 in Q2 Trump talks coronavirus and policing in exclusive interview Ghislaine Maxwell denied bail after pleading not guilty Hospitals overwhelmed as Florida reports record virus deaths || Blockchain Bites: OCC’s Crypto Letter, Eth 2.0’s ‘Official’ Testnet and Dinwiddie’s Tokenized Airball: The OCC will allow banks to custody crypto, Visa has a digital currency playbook and a digital dollar is essential to America’s economic edge, said experts at a U.S. Senate hearing.
You’re readingBlockchain Bites, the daily roundup of the most pivotal stories in blockchain and crypto news, and why they’re significant. You can subscribe to this and all of CoinDesk’snewsletters here.
Digital Dollar HegemonyThe U.S. Senate Banking, Housing and Urban Affairs Subcommittee on Economic Policy conducted a hearing on “Winning the Economic Competition” between China and the U.S. on Wednesday wherecrypto was cited as a possible tool to maintain U.S. economic supremacy.“This could be interpreted as crypto’s increasing acceptance as a mainstream idea,” CoinDesk’s Nikhilesh De says. Former CFTC Chair Christopher Giancarlo once again called for the U.S. conduct pilot programs using a tokenized dollar. “We have to assume that as the nature of finance changes, the nature of currencies change, we have to stay at the leading edge,” Walter Russell Mead, the James Clarke Chace Professor of Foreign Affairs and Humanities at Bard College and a member of the Hudson Institute, said.
Related:First Mover: Crypto's $35T Moment Could Come From Analog-World Stock Listings
‘The Future of Money’Visa outlined a digital currency playbook Wednesday, showing its commitment todigital currency’s place in “the future of money.”Already a crypto bridge for tens of millions of merchants, Visa cast its digital currency partnerships as critical to preserving what it said was six decades of innovation. “Extending this legacy into the decades ahead requires continuous innovation and collaboration with” the public and private sector, it said.
Near the Net?Brooklyn Nets guard Spencer Dinwiddie’s plan to tokenize part of his $34 million NBA contractfell short of its $13.5 million target.Dinwiddie’s issuer SD26 LLC sold just nine of the 90 available tokenized contract shares, priced at $150,000, to eight total investors as of Wednesday, according to CoinDesk’s review of Form D regulatory filings and the security’s token’s issuance history on Etherscan. Project insiders have previously said the sale would last only until the end of July. It now appears to be closed out for good. Dinwiddie first proposed tokenizing his three-year contract in September 2019, which was initially met with fierce opposition from the NBA.
Ant’s AssetsAnt Group claims its clients are uploading an average of100 million digital assets to its distributed ledger every day,making it the largest operating blockchain in China. The Alibaba-affiliate company made the claim in a release Thursday that announced Ant Blockchain was rebranding to AntChain. An Ant spokesperson later told CoinDesk these were mostly transaction records, as well as copyright and property ownership certificates. Ant Group said this week it was planning an IPO on the Shanghai and Hong Kong stock exchanges at a rumored $200 billion valuation.
Compromised AccountsThe attackers who compromised Twitter in a massive breach last week may haveaccessed direct messages from up to 36 accounts, including CoinDesk’s,according to an announcement late Wednesday. Twitter said it has completed its review of the 130 accounts targeted by the hack, which garnered $120,000 through a crypto giveaway scam. The attackers were not able to see previous passwords, but were able to access email addresses, phone numbers and possible “additional information,” the update said. CoinDesk has yet to regain access to its primary account.
• Apple’s co-founder Steve Wozniak sued YouTube overBitcoin giveaway scams using his likeness
• BitGo isstaking Tezzies
• Winklesvoss-owned Gemini will custody.crypto domains names
• Veritaseum accuses T-Mobile of gross negligence over$8.6 million SIM-swap hack
• The U.S. House passedtwo blockchain amendmentsin an annual defense budget bill
Related:Don't Expect Banks to Jump on the OCC Crypto Custody News
A change is in the air. In a letter yesterday, the Office of the Comptroller of the Currency (OCC) announced all nationally charteredbanks in the U.S. will be able to provide custody services for cryptocurrencies.
This marks a major turning point for the crypto industry, long reliant on specialist custodians, typically licensed through states, to offer services to large investors. But it also signals a changing attitude in the nature of money.
“The OCC recognizes that, as the financial markets become increasingly technological, there will likely be increasing need for banks and other service providers to leverage new technology and innovative ways to provide traditional services on behalf of customers,” the letter said.
Brian Brooks, a former Coinbase exec who joined the OCC as Acting Comptroller earlier this year, is just one of a number of crypto-friendly regulators in high positions. U.S. Securities and Exchange Commission (SEC) Chairman Jay Clayton is likely to becomethe next U.S. Attorney for the Southern District of New York,while ‘Crypto Mom’ Hester Peirce has been tapped for asecond term as an SEC commissioner.
It’s not out of the question for more crypto-forward legislation or administrative actions to follow this year.
Still, the growing governmental acceptance of crypto comes with costs. Banks custodying digital assets will have to conform to local laws and follow “sound risk management practices,” the OCC letter states, placing these assets under watchful eyes.
Whether this is antithetical to crypto’s original ethos, or may stifle breakneck development is an open question. But it’s worth asking what “being your own bank” means.
‘Risk On’Bitcoin jumped above $9,500 on Wednesday, ending afour-week-long low-volatility squeeze.CoinDesk’s Omkar Godbole said market sentiment is poised for a further rise to the psychologically important $10,000 price level. In particular, a “risk-on” mood in traditional markets – seen by five-month highs in global stocks and near-term lows for the U.S. dollar, a safe haven in times of crisis – supports the case for a bullish crypto market. Bitcoin has recently developed a strong correlation with traditional assets.
Testing, TestingEthereum 2.0 developers released the specifications forthe “official” testnet on Wednesday,ahead of a presumed end-of-year launch. The testnet will begin August 4 and has been named “Medalla” after a Buenos Aires metro stop. In this case, “official” means the testnet is deployed by the Ethereum Foundation (EF), which will run by a decentralized group of programmers, developers and code auditors organized by fork coordinator Afri Schoedon. This is also a signpost the network’s code base is nearing launch readiness. Medalla joins multiple prior tests of Eth 2.0’s code bank on various client implementations, including Görli, Witti, Schlesi and most recently Altona.
Crypto on the BackendOrchid VPN announcedthe launch of a Mac desktop app for private web browsing,which will allow users to purchase bandwidth using an Apple ID. The Ethereum-based service “marks one of the first times consumers can exchange USD for a service that runs entirely on crypto in the background,” Orchid CEO Steven “Seven” Waterhouse told CoinDesk via a spokesperson. Apple has traditionally taken an anti-crypto stance, including banning mining applications. “At minimum, Orchid’s arrangement with the Cupertino tech giant represents a slick workaround,” CoinDesk’s Zack Seward reports.
What Went WrongBlocknative, a company that studies blockchain mempools, issued a report that may explainthe “zero-bid” attack on MakerDAO on March 12,also known as Black Thursday. The company found that an unusually high proportion of the mempool was clogged by transactions with very low gas prices, “hammering” the system with transactions never meant to go through. This opened the doors for hackers to submit “zero bids” in MakerDAO’s collateral auctions with stronger gas prices, essentially netting them collateralized ETH for $0. The attackers walked away with $8.3 million.
Embrace the Unknowable IntelligenceJesus Rodriguez, CEO of IntoTheBlock, thinks crypto shouldembrace OpenAI’s new GPT-3 language generatormodel, not fear it. Noting that GPT-3, which is able to respond to human prompts, does not pose consequences for crypto, it could be employed in developing new quantitative trading and on-chain analysis strategies, as well as find a home in decentralized systems. “[T]he techniques behind GPT-3 represent the biggest advancement in deep learning in the last few years and, consequently, can become incredibly relevant to the analysis of crypto-assets,” he said.
• Blockchain Bites: OCC’s Crypto Letter, Eth 2.0’s ‘Official’ Testnet and Dinwiddie’s Tokenized Airball
• Blockchain Bites: OCC’s Crypto Letter, Eth 2.0’s ‘Official’ Testnet and Dinwiddie’s Tokenized Airball || Marsan Bitcoin Exchange - Everything You Need to Know: In 2017, cryptocurrencies helped traders and investors alike book record profits as Bitcoin led the market to untold heights. Since then, the cryptocurrency market has vastly matured, with digital assets gaining ground in terms of development.
Also Read |CarryMinati Funny Memes & Jokes Go Viral After His Second YouTube Channel ‘CarryisLive’ Gets Hacked For Bitcoins and Ethereum!
To complement the strength of Bitcoin's fundamentals and increase adoption, digital asset exchanges need to be fast, simple, and highly secure. Marsan Exchange is leading thenew schoolof digital asset exchanges by offering investors an instant, reliable, andsafeway to buy Bitcoin.
While other cryptocurrency exchanges require you to create an account and provide detailed personal information, Marsan Exchange does not. Instead, buying and selling Bitcoin at Marsan Exchange is far simpler — just reach for your phone, open WhatsApp, and trade BTC directly with one of Marsan Exchange's 24/7 support agents.
Also Read |CarryMinati’s Second YouTube Channel ‘CarryisLive’ Gets Hacked for Bitcoins, Netizens React With Funny Memes and Jokes!
Marsan Exchange is the only exchange based in Québec, Canada, that enables instant Bitcoin trading that is both 100% anonymous and direct — just as Satoshi Nakomoto intended.
Now, after years of sideways action, Bitcoin prices are on the rise. So, should you buy Bitcoin? Here's a quick explanation of Bitcoin to help you decide.
A Quick Bitcoin Explanation
Back in 2008, the world was on the brink of a large recession — a recession so enormous, in fact, that historians now refer to it asThe Great Recession.
Caused by banking industry malpractices, the recession led an anonymous developer named Satoshi Nakamoto to create Bitcoin — adecentralizedcurrency — to give people power over their finances.
Bitcoin is a peer-to-peer digital currency that is kept honest, truthful, and secure by a globally distributed network of validators. These validators, calledminers, are rewarded for checking Bitcoin network transactions for honesty, then adding them to the Bitcoin ledger.
Before a group of transactions, known as ablock, can be added to the Bitcoin blockchain, a majority consensus of 51% or higher must be reached by the miners. Once an agreement occurs, the block of transactions is added to the blockchain, thus confirming the transactions and making them a permanent part of the network's history.
While it's essential to know these things about Bitcoin, they happen in the background of a transaction. When you send BTC from your wallet to elsewhere, the experience is streamlined and simplified, taking only minutes for the transaction to finalize.
Why should you own Bitcoin today? Apart from Bitcoin being the most widely recognized form of global digital currency, it also has striking similarities to gold.
Like gold, Bitcoin has a finite supply of 21 million Bitcoin. Today, just under 18.5 million BTC are in circulation, putting plenty of upward price pressure on the remaining supply.
However, unlike gold, Bitcoin isdigital, meaning you can transport and transact it anytime, anywhere, and directly on Marsan Exchange.
About Marsan Bitcoin Exchange
Antoine Marsan, the 21-year old entrepreneurial founder of Marsan Exchange, is bringing Bitcoin trading back to the source.
Centralized exchanges over-complicated buying and selling Bitcoin. In contrast, Marsan Exchange uses peer-to-peer Bitcoin trading to enable a secure, fast, and reliable Bitcoin buying experience.
Buy Bitcoin at Marsan Exchange by visitingmarsanexchange.com. || DeFi Traders Are Gaming Ethereum for Higher Profits, Researchers Say: Decentralized finance (DeFi) has been clogging the Ethereum network, but not in the way most analysts would have guessed.
An architectural quirk in the most-used software version of Ethereum, Geth, has led to an uptick in the practice of spamming the network to secure trade profits over the last six months,accordingto Certus One co-founder Hendrik Hofstadt.
Transaction spamming is one of many reasons the average Ethereum user fee has increased some 800% since May, according toCoin Metrics. Ponzi schemes likeMMMor DeFi’s general growth in 2020 are also to blame.
Related:Market Wrap: Bitcoin Trudges Past $11.7K as DeFi Lending Rates Gyrate
Read more:Weed Out the Soviet-Era Ponzi Scheme Eating Ethereum
Hofstadt told CoinDesk that algorithmic trading firms have created bot swarms to watch the Ethereum transaction queue (called the mempool). These bots wait for large trades on DeFi platforms such as Uniswap. After they go through, the bots quickly place orders to take advantage of price movements in what is called “backrunning.”
Too many firms knew about this practice, though. So some firms switched up their tactics over the spring months by sending awall of executionsto crowd out others and secure a backrun order.
Rough modeling shows some $5.99 million in gas fees have been used to execute this trading strategy since April 2018,accordingto developer Philippe Castonguay. That’s about a week’s worth of typical Ethereum fees for useless transactions.
Related:Two Reasons Crypto's Bull Market Is Coming
Moreover, the majority of these trades occurred since March 12’s “Black Thursday,” when DeFi platforms sawrecord volumes.
Read more:Thursday’s Market Madness Strained Ethereum’s Killer App: DeFi
For trading firms, this translates into more fees overall but arbitrage profits into the hundreds of thousands, according toaddressesprovided by Hofstadt.
For the network, spamming crowds out other transactions. It also increases the average fee for everyone.
On July 29, the Geth team approved swapping the execution model to a first come, first served basis. Yet, it remains to be seen if mining firms will update to the new Geth version.
Hofstadt said miners could keep doing business as usual if they value the extra pocket change from DeFi traders more than helping out the network in general.
Indeed, total network fees per day on Ethereum has increased 1,077% since May 5 from $162,200 to $1,909,000 on a seven-day rolling basis, according toCoin Metrics.
• DeFi Traders Are Gaming Ethereum for Higher Profits, Researchers Say
• DeFi Traders Are Gaming Ethereum for Higher Profits, Researchers Say || Bitcoin Up 27% in First Half of 2020, Beating Gold, Silver and Platinum: Bitcoinshowed its luster during the first half of 2020 by rallying more than 27% percent amid mediocre returns from precious metals including gold, silver and platinum.
Gold underperformed bitcoin by nearly 11 percentage points despite gaining 16 percent in the first half of 2020 and making eight-year highs in late June. Silver and platinum both finished the first half of 2020 with negative gains.
Bitcoin’s strong performance is no shock to some analysts, especially in context of the benchmark cryptocurrency’sincreasing correlationwith equity markets. “Given that equities are now near, or in some cases above, their highs reached in February, it’s not surprising to see bitcoin do the same,” said Ryan Watkins, bitcoin analyst at Messari.
Related:Crypto Exchanges See Big Drop in Volumes as Bitcoin Volatility Approaches 2020 Low
Why compare returns from bitcoin to gold or other precious metals? “Gold is bitcoin’s most aspirational asset,” explained Watkins. “Like bitcoin, gold is a scarce commodity whose value is derived almost entirely from its monetary premium.”
Unlike gold, however, bitcoin investors have historically experienced more extreme volatility. Silver and platinum were also much more volatile than gold through the first half of 2020.
Bitcoin and gold could be seen more like complementary investments than competitives ones based on their performance over the past six months, said David Lifchitz, managing partner at Paris-based quantitative cryptocurrency trading firm ExoAlpha. Given bitcoin’s historic volatility, holding “digital and physical gold together” could provide a better risk-return profile than holding either of them individually, said Lifchitz.
See also:Bitcoin Sees Small Gain as Gold Rallies to One-Month High
Related:Market Wrap: As Stocks Rally, Bitcoin Trades Above $9.3K for the First Time in 10 Days
Investors typically adjust their portfolios based on the amount of risk required to achieve a certain return. Increased returns often bring with it higher volatility or risk. Depending on how assets correlate, though, a properly weighted portfolio can achieve a higher expected return with a lower level of risk than would be found in a portfolio containing just one asset.
Investing in bitcoin and the less-volatile gold during the first half of 2020 could have reduced an investor’s risk without sacrificing returns, Lifchitz told CoinDesk. Equal investments in gold and bitcoin, for example, could have more or less matched returns from an investment only in bitcoin while suffering less of a drawdown in March, Lifchitz explained.
But risk-adjusted returns from bitcoin and gold over the last six months “may not hold true going forward,” said Lifchitz. For one thing, the cryptocurrency market has grown eerily quiet over the past few weeks asbitcoin’s volatility has plummeted.
A Bloomberg Julyreporton bitcoin noted bitcoin’s 260-day volatility is “at the lowest versus the same gold-risk measure since the crypto asset’s parabolic 2017 rally.” Senior commodity strategist Mike McGlone, who authored the report, said, “Volatility should continue declining as bitcoin extends its transition to the crypto equivalent of gold from a highly speculative asset.”
See also:Crypto Long & Short: Is Bitcoin More Like Gold or Equities?
Bitcoin’s dropping volatility to historic lows could quickly change directions, however. McGlone described bitcoin as a “resting bull” ready for a breakout, adding, “We expect recent compression to be resolved via higher prices.”
• Bitcoin Up 27% in First Half of 2020, Beating Gold, Silver and Platinum
• Bitcoin Up 27% in First Half of 2020, Beating Gold, Silver and Platinum || Market Wrap: Bitcoin Cracks $12.4K; DeFi Crosses $6B Locked: Bitcoin made a major gain Monday while investors have locked over $6 billion in crypto into various DeFi services.
• Bitcoin(BTC) trading around $12,332 as of 20:00 UTC (4 p.m. ET). Gaining 4.1% over the previous 24 hours.
• Bitcoin’s 24-hour range: $11,774-$12,485
• BTC slightly above its 10-day and 50-day moving averages, a bullish signal for market technicians.
The world’s largest cryptocurrency by market capitalization opened the week with higher-than-normal volume pushing bitcoin to as high as $12,485. For some market observers it was only a matter of time before it happened.
Read More:Bitcoin Surges Past $12,000 to New 2020 High
Related:DeFi-Yield-Hunting Token YFI Explodes to $11K From $32 in One Month
“Bitcoin has been trading in a $11,000-$12,000 range for two weeks or so,” said Darius Sit, managing partner of Singapore-based QCP Capital. “It has been consolidating, threatening to break past $12,000, so this is not too surprising,” he added.
Thus far in August, Coinbase’s daily average bitcoin volume has been $182 million, but on Monday volume was at $245 million as of press time. “Unlike last week, today’s attempt to break through the $12,000 level carried enough momentum to make a convincing break, sending BTC all the way to the $12,500 area,” said Denis Vinokourov, head of research for crypto brokerage BeQuant.
William Purdy, an options trader and founder of analysis firm PurdyAlerts, says the derivatives market is showing where traders think bitcoin’s price will be in the future as the cryptocurrency trends upward. “I think what is most interesting right now is how clear the upcoming expected price targets for bitcoin are via the option open interest,” he told CoinDesk, adding, “$12,000, $13,000, $14,100 and $16,000 are the spots with the greatest open interest, so the price is likely to settle on these as upcoming support/resistance.”
Read More:Bitcoin DeFi May Be Unstoppable: What Does It Look Like?
Related:Dust Attacks Make a Mess in Bitcoin Wallets, but There Could Be a Fix
Of note is how traders view price movements ofether(ETH) relative to bitcoin.
“Ether was largely a bystander Monday, mimicking the surge higher instead of being the driving force behind it,” BeQuant’s Vinokourov said. “This is suggesting a growing unease towards the current valuation.” Skyrocketing Ethereum transaction costs were among the reasons for this sentiment, Vinokourov noted.
Read More:DeFi Frenzy Drives Ethereum Transaction Fees to All-Time Highs
Ether, the second-largest cryptocurrency by market capitalization, was up Monday trading around $438 and climbing 1.9% in 24 hours as of 20:00 UTC (4:00 p.m. ET).
Read More:Huobi Launches Consortium of DeFi Providers and Platforms
The total value locked in decentralized finance, or DeFi, crossed the $6 billion threshold over the weekend, and it is currently up to $6.4 billion Monday. Over half of the value locked is in just three DeFi services: Maker ($1.51 billion), Aave ($1.15 billion) and Curve Finance ($1 billion).
Jean-Marc Bonnefous, managing partner for Tellurian Capital, which has been investing in crypto projects since 2014, says some of this DeFi frenzy seems to be proceeding unchecked, and warned that caution is needed.
“Some of these DeFi applications are going to market too quickly and without even testing the code. That is highly risky,” he said to CoinDesk. “There will be a flight to quality towards those protocols that have sound operational foundations and also real added business value.”
Read More:YAM’s Market Cap Falls From $60M to Zero in 35 Minutes
Digital assets on theCoinDesk 20are mostly green Monday. Notable winners as of 20:00 UTC (4:00 p.m. ET):
• litecoin(LTC) + 8.9%
• 0x(ZRX) + 8.3%
• xrp(XRP) 7.7%
Read More:Litecoin Gets Bullish Speculation, at Last, as Upgrade Approaches
Notable losers as of 20:00 UTC (4:00 p.m. ET):
• tezos(XTZ) – 6.2%
• eos(EOS) – 1.1%
• iota(IOTA) – 1%
Read More:BitMEX to Mandate ID Verification for All Traders
Equities:
• Asia’s Nikkei 225 ended the day in the red 0.82% asdata indicated Japan has experienced a record contraction in its economy in the past year.
• In Europe, the FTSE 100 closed in the green 0.61% asgains in mining stocks sent the index higher.
• The United States’ S&P 500 gained 0.40% asthe consumer discretionary and mining sectors made gains on Monday.
Read More:Pantera Tells SEC Its Crypto Fund Has Raised Nearly $165M
Commodities:
• Oil is up 1.4%. Price per barrel of West Texas Intermediate crude: $41.81.
• Gold was in the green 2.1% and at $1,985 as of press time.
Read More:Lending Protocol Aave Eyes Tokenized Mortgages With Launch of V2
Treasurys:
• U.S. Treasury bonds were mixed Monday. Yields, which move in the opposite direction as price, were down most on the 10-year in the red 3.3%.
Read More:Blockchain VC Firm SPiCE VC Taps Coinbase for Digital Asset Custody
• Market Wrap: Bitcoin Cracks $12.4K; DeFi Crosses $6B Locked
• Market Wrap: Bitcoin Cracks $12.4K; DeFi Crosses $6B Locked
[Random Sample of Social Media Buzz (last 60 days)]
None available.
|
Trend: up || Prices: 11664.85, 11774.60, 11366.13, 11488.36, 11323.40, 11542.50, 11506.87, 11711.51, 11680.82, 11970.48
|
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 2015-06-16]
BTC Price: 250.90, BTC RSI: 73.69
Gold Price: 1180.50, Gold RSI: 45.64
Oil Price: 59.97, Oil RSI: 53.14
[Random Sample of News (last 60 days)]
Bitcoin Shop Signs Letter of Intent to Merge With Spondoolies-Tech: ARLINGTON, VA--(Marketwired - Apr 28, 2015) -Bitcoin Shop, Inc.(OTCQB:BTCS) ("BTCS" or the "Company"), a blockchain technology company that engages in transaction verification services, announced today that it has signed a Letter of Intent ("LOI") to merge withSpondoolies-Tech Ltd("Spondoolies"), a digital currency server manufacturer. BTCS is embarking on a mission to build a fully integrated transaction verification services business using Spondoolies' state-of-the-art bitcoin mining technology. In the bitcoin network, transactions are typically verified by operators of specially designed servers which ensure speed, efficiency, security and accuracy. Currently, there are only five companies globally manufacturing these servers and Spondoolies is widely recognized as a leader in the space. Both companies believe the anticipated combination of BTCS and Spondoolies will create the world's first publicly traded company to produce Bitcoin transaction verification equipment and deploy Bitcoin mining resources. The merger is subject to a number of conditions, including satisfactory completion of diligence and execution of definitive agreements. There can be no assurance that the conditions to closing will be satisfied or merger will be completed.
"Our key goal in 2014 was to create the partnerships needed to build an ecosystem and start laying the foundation to put our vision into place," said Charles Allen, CEO of BTCS. "Once completed, our merger with Spondoolies would be a significant leap forward in making this ecosystem a reality. We believe this merger once completed would create significant value for BTCS and Spondoolies shareholders, customers, and employees and serve to accelerate the strategic plans in which both companies have invested. As a collective, our next objective will be to complete the development and production of a next generation chip to drive our transaction verification services business and to generate revenue from the combination."
"Over the last several months, we've worked closely with Charles Allen and the BTCS team to establish the nature of our potential partnership," said Guy Corem, CEO of Spondoolies. "The synergy between the teams is amazing. I have the utmost confidence that together we will build a very successful and prosperous company by growing and expanding our business beyond bitcoin mining equipment."
About BTCS:BTCS is a blockchain technology company that provides transaction verification services for digital currency. BTCS is building a universal digital currency platform with the goal of enabling users to engage in the digital currency ecosystem through one point of access. BTCS continues to actively partner and integrate with strategic digital currency technology companies who provide products or services that are complementary to its business strategy. BTCS operates its public beta site (www.btcs.com) where consumers can purchase products using digital currency such as bitcoin, litecoin and dogecoin, by searching through a selection of over 250,000 items. For more information visit:www.btcs.com
About Spondoolies-Tech:Founded in 2013 by a group of Israeli high-tech veterans, Spondoolies is a digital currency hardware manufacturer. Spondoolies raised ten million dollars in capital from leading Israeli venture capital firms and assembled a team of leaders in the Israeli Semiconductor industry, with the goal of building the infrastructure on which digital currencies will flourish. Building bitcoin transaction verifying servers from the bottom up, Spondoolies is producing machines that are designed for efficiency and performance. During 2014, Spondoolies successfully launched five different products.
Forward Looking Statements:Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission, not limited to Risk Factors relating to its digital currency business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law. || Obama's 'Hands Off' Marijuana Policy Put To The Test: President Obama has said that although the federal government still classifies the possession or sale of marijuana as a criminal act, individual states will have the power to decriminalize the drug if they so choose. However, the fractured laws have created some controversy regarding the legality of the marijuana industry, with many Americans becoming frustrated with the White House's "hands-off" approach. Now, a lawsuit between states with conflicting marijuana legislation could force the President to take a side. Border Issues Colorado's legalization of recreational marijuana has come under fire from neighboring states Nebraska and Oklahoma, both of which still prohibit marijuana use. The states have filed a lawsuit calling for the Supreme Court to reverse Colorado's marijuana legislation. Both say their law enforcement agencies have been under increased pressure to uphold federal marijuana laws, as more and more people illegally cross the border with pot they purchased in Colorado. Related Link: Marijuana Industry Blazes The Path For A New Kind Of Lawyer Obama To Weigh In On Monday, the Supreme Court asked the White House for its view on the lawsuit, something that will add fuel to the growing debate on whether or not federal laws regarding marijuana should be amended. So far, the President hasn't made any public comments regarding the case, but its outcome will likely have far reaching consequences for the push for marijuana legalization in the U.S. Image Credit: Public Domain See more from Benzinga Case Attempts To Solve Bitcoin's Security Problem A Better Understanding Of The Government's Information-Sharing Bills UK Takes The Spotlight With Uncertain Elections Looming © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments || Bitcoin Making Progress In Europe: Despite several setbacks, thebitcoinindustry is continuing to grow across the world as people in more countries take notice of the digital currency's benefits.
While the cryptocurrency is still far from becoming a mainstream payment method, European regulators are beginning to follow in the footsteps of the Bank of England by planning ahead and evaluating how to integrate the cryptocurrency into the region's financial system.
EBA Review
On Monday, the European Banking Association issued areportdetailing its findings on the use of cryptocurrencies.
The report stated that, although bitcoin still has a long way to go before it can be considered a viable currency, digital currencies are an important issue worth paying attention to in the future.
Related Link:NASDAQ Interested In Blockchain
Blockchain As A Viable Opportunity
The EBA acknowledged that despite bitcoin's volatility and security concerns, the technology that powers it could be applied to several different industries to improve their operations.
The report commended blockchain's ability to make processes faster and simpler, saying that it would be useful in fields like IT and contract law.
More Bitcoin Exposure
Shortly after the EBA's release, bitcoin platform Coinify announced that it was expanding throughout the eurozone to allow 34 European countries to buy and sell bitcoins.
Coinify is using the Single Euro Payments Area, or the bloc's payment integration scheme, in order to carry out the expansion.
Related Link: ItBit Became The First Cryptocurrency Exchange To Receive A Banking License
Making Europe Part Of The Digital Payment Revolution
Coinify's expansion is expected to put Europe in a position to take advantage of the growing popularity of digital currencies. Coinify's Chief Financial Officer Christian Visti Larsen said the company's next round of funding is expected to raise enough money "to make sure that Europe will be playing a leading role in this new payment space."
Image Credit: Public Domain
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 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.
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 environmenton 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.comhas 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 [email protected]ærvej 6, Hune, DK-9492 Blokhus Denmark
SOURCE: CCEDK.com || 10 mobile payment systems you need to know: googlewallet.jpg Image: Marguerite Reardon/CNET Nearly every day I am confronted with the fact that I am a rarity, the last of a dying breed. I am someone who still regularly uses cash to make purchases. In today's society, that makes me a dinosaur. Mobile technology has driven advancements in the payments industry that are making it easier and easier to make purchases without ever opening your wallet. The plethora of options doesn't necessarily mean that everyone is on board. According to data collected by 451 Research , many users are still uneasy when it comes to mobile payments due to security concerns. Still, the technology is moving forward and more vendors are accepting mobile payments everyday. If you want to get started with mobile payments, you have to first understand all your options. Here are 12 of the top mobile payment systems available. Google Wallet One of the first major NFC-based payment systems, Google Wallet was released back in September 2011. You can use Google Wallet to make purchases online or in a store, and send money to friends and family. Some have argued that it will be overtaken by Apple Pay, but that may not be the case . In fact, Google recently acquired intellectual property (IP) from Softcard to better compete. Apple Pay Apple Pay debuted alongside the iPhone 6 in late 2014. Users with an iPhone 6 or later, or an Apple Watch, register existing credit or debit cards with the service and use it to make payments with one of those cards. To use Apple Pay, you place your device near a reader and place your finger on the fingerprint scanner to quickly make a purchase. PayPal Known as the go-to payment system for eBay, PayPal also has a pretty useful mobile app. Users can snap a picture of a credit or debit card to add it to their account and make purchases or send money straight from their phone. PayPal has integrations with Uber, Airbnb, and StubHub for convenient payments. Square Cash Square Cash is a mobile payment option that allows users to create a unique username known as a $Cashtag. According to the Square Cash website, users can tweet out their $Cashtag for donations, or use it to pay their rent. You can also use it to pay someone for their services or simply send them some money. Stripe A web and mobile payment system that is "built for developers," Stripe offers a host of tools and APIs to customize it for you or your business. Users can accept Bitcoin through Stripe. Additionally Stripe is integrated with companies such as Lyft, Instacart, and Postmates. Dwolla Dwolla is a payment network for moving money. It doesn't require a credit or debit card, rather, it connects directly to your checking account. Use an email address to transfer money for $0.25 per transaction. Or, if the transaction is $10 or less, it's free. Only one party pays the fee and you can use it to send money to people even if they don't have a Dwolla account. Story continues M-Pesa Vodafone launched M-Pesa back in 2007. It allows users to deposit or withdraw money, transfer money, and make payments with their mobile phone. The actual account for the money is stored on the user's phone, and they use secure SMS messages to send money or make payments. The transactions carry a small fee as well. Very popular in some African markets, M-Pesa is huge in Kenya where the service first launched. Venmo Connect your bank account or debit card to send payments with Venmo. According to the company's website, it's always free to receive money through Venmo and most of the time it is free to send money, depending on what credit card or debit card you're using. Sign up with Facebook or by using an email address. Lifelock Wallet After purchasing Lemon Wallet, Lifelock created the Lifelock Wallet. It acts as a cloud storage system for all the cards you'd normally see in a wallet. Your ID, insurance card, loyalty cards, and payment cards are all stored and accessed through the app. The app touts Lifelock's security protection and users can access their credit score through the app for $.99. Samsung Pay After acquiring the company LoopPay, Samsung will fold its Samsung Wallet to be replaced by Samsung Pay. A technology known as Magnetic Secure Transmission is embedded in Samsung's Galaxy S6 and S6 edge, and it allows users to pay with their phone at a standard magnetic stripe reader. The service was only recently announced and will likely launch this summer. What do you think? Do you use a mobile payment system? Why or why not? Tell us in the comments. Also see What to learn from Apple's new Apple Pay mobile payment platform The liability shift and its impact on mobile payments Are people scared of mobile payments? Why Apple Pay won't be the death of Google Wallet View comments || 4 trades on airline and aerospace stocks: JetBlue Airways(NASDAQ:JBLU-News)stock could gain ground as the carrier attempts an overseas expansion, some CNBC "Fast Money" traders said.
The company on Monday said it is looking into extending its network to South America and other places abroad with a long-range plane from Airbus. JetBlue closed Tuesday barely higher.
While he was disappointed by the way it traded after the news, trader Guy Adami said he still likes JetBlue at its current price, below $20 per share. The stock has climbed more than 20 percent this year, and trader Steve Grasso agreed that he would stick with it, especially after a recent pullback in the wider airline sector.
Read MoreFor Boeing, Airbus, it's about profits
That broader weakness has brought Delta Air Lines(NYSE:DAL-News)to "interesting levels," said trader Tim Seymour. The stock has fallen more than 17 percent this year, and closed Tuesday around $40 per share.
Delta looks risky if it fails to hold above $40, he noted.
Boeing(NYSE:BA-News)looks the most appealing in the aerospace sector, trader Brian Kelly contended. The stock has climbed almost 10 percent this year.
Read MoreAirlines are getting better at being on time
Disclosures:
TIM SEYMOUR
Tim Seymour is long AAPL, T, BAC, C, DIS, F, GE, GM, GOOGL, INTC, JCP and SUNE. Tim's firm is long BABA, BIDU, MCD, NKE, NOK, SBUX and YHOO.
STEVE GRASSO
Steve Grasso is long AAPL, BAC, DD, DECK, EVGN, MJNA, PFE, T, TWTR and GDX. His firm is long AVP and TWTR. His kids own EFG, EFA, EWJ, IJR and SPY.
BRIAN KELLY
Brian Kelly is long DXGE, BTC=, BBRY and U.S. dollar. He is short Australian dollar, Canadian dollar, euro, yen and yuan.
GUY ADAMI
Guy Adami is long CELG, EXAS and INTC. Guy Adami's wife, Linda Snow, works at Merck.
More From CNBC
• CNBC.com News Page
• CNBC.com Blogs Page
• CNBC.com Earnings Central || Coinbase opens bitcoin exchange in UK: April 28 (Reuters) - Bitcoin payment processor Coinbase opened an exchange and online wallet service in the UK on Tuesday, allowing people to convert sterling into bitcoin.
Expanding to the UK will make it easier to access bitcoin in one of the financial capitals of the world, San Francisco-based Coinbase said in a blog on its website.
Last month, Britain took a significant step towards becoming a global bitcoin hub as the government announced it would regulate digital currencies for the first time by applying anti-money laundering rules to exchanges.
Earlier this year, Coinbase raised $75 million from several major financial institutions, including the New York Stock Exchange, USAA Bank and Spanish banking group BBVA .
Aside from processing bitcoin payments, Coinbase also provides wallet services for holders of the digital currency.
(Reporting by Supriya Kurane in Bengaluru; Editing by Cynthia Osterman) || Dutch Bank Issues Europe's First Certified Climate Bond: ABN AMRO Bank N.V., a bank based in the Netherlands,issuedthe eurozone's first ever green bond on Wednesday, shortly after the Climate Bonds Standard for Low Carbon Buildings was unveiled at an investor meeting in London.
The bond represents what many hope will be a growing push to lower carbon emissions throughout Europe and is expected to be the first of many bonds issued with this certification.
High Demand
Investor interest in the bond caused ABN AMRO to upsize the bond deal from €350 million to €500 million ($556 million USD), making it the largest Certified Climate Bond to have been issued to date.
In late May,Australia and New Zealand Banking (ADR)(OTC:ANZBY) issued its own Certified Climate Bond for A$600 million ($464 million USD). Both bonds were well received by all types of investors, though dedicated green investors made up the majority of the interested parties.
Related Link: Is Bitcoin Bad For The Environment?
What Does It Mean?
A Certified Climate Bond means that the bond has been evaluated by an approved verifying party that ensures that the proceeds of the bond are used to further the development of low carbon buildings.
This week at the RI Europe 2015 in London, the standards dictating what projects would qualify for use of Certified Climate Bond funds were unveiled.
They included new rules regarding carbon standards for commercial and residential buildings as well as upgrade projects.
Interest To Continue
Both ANZBY and ABN AMRO saw investors oversubscribing for their green bonds, suggesting that there is a massive market for environmentally conscious investment options.
Many expect that the growing number of green investors will prompt more banks to roll out their own Certified Climate Bonds and help push forward the initiative for sustainable construction.
Image Credit: Public Domain
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• New York Issues BitLicense Rules To Mixed Reviews
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || New York sets rules for running Bitcoin exchange businesses: Pixelated Bitcoin symbol made from cubes, mosaic pattern New York has finally issued an official set of rules for businesses that deal with Bitcoins. If you recall, New York Superintendent of Financial Services Benjamin M. Lawsky and his team have been writing and rewriting those regulations for the past two years, taking criticisms into account. Lawsky has announced the final list during a recent speech at the BITS Emerging Payments Forum in Washington, weeks before he steps down from his position. These rules require businesses to apply for a "BitLicense" from the Department of Financial Services if they want to operate in the Big Apple. The final version clarifies that only companies that offer financial services, such as money exchanges, are required to take out applications, though. Software developers, individuals and retailers can accept cryptocurrency payments without having to go through the process. The rules also state that businesses won't have to report every software update (unless it will significantly change their product/service) or to apply for BitLicense, if they already have a traditional money transmitter license. From the start, Lawsky maintained that the state wants to regulate Bitcoin-based businesses in order to avoid money laundering schemes and the like. "We simply want to make sure that we put in place guardrails that protect consumers and root out illicit activity -- without stifling beneficial innovation," he said during his speech. While some entrepreneurs welcome the regulatory framework, as it will prove to customers that their businesses are legit, not everyone's happy with the the final list. Jerry Brito, executive director of Bitcoin advocacy group Coin Center, told The Wall Street Journal that the BitLicense program creates "an unprecedented new state-level money laundering requirement." He believes it's discriminatory, as New York banks and regular money transmitters don't have to follow a similar set of rules. His unhappiness is shared by a lot of people in the Bitcoin community, who are dismayed that Lawsky failed to address their concerns. New York is the first state to heavily regulate Bitcoin exchanges, but other states might follow if the BitLicense turns out to be a success. If you want to know just how stringent New York's rules are, check out this full set of regulations released by Lawsky's department. [Image credit: Getty/TimArbaev] || Bitcoin Alternative Jetcoin Disrupts Sports Industry, Athlete And Fan Relationships Launching Cryptocurrency Presale: Bringing Wall Street And Blockchain Technology To The World Of Sports And Entertainment, Jetcoin Institute Is Pleased To Announce The Jetcoin Presale: Jetcoin Is Backed By Gold Bullion Allowing Anyone To Own IP Rights Of Promising Athletes And Talents SINGAPORE, SG / ACCESSWIRE / April 19, 2015 / Jetcoin, the new digital fuel for the world of sports and entertainment, gives fans and supporters a unique opportunity to benefit directly from the success of their favourite athletes and stars. It disrupts traditional fan-athlete/talent relationships by enabling anyone to launch and support the careers of tomorrow's stars. Using block chain technology, Jetcoin decentralises the world of sports and entertainment, ruled today by powerful agents and corporations. Jetcoin tilts the power balance by establishing the first platform where anyone can own IP rights of promising athletes and talents. Also the first digital currency to be backed by precious metal collateral (gold) via a partnership with XNF, Jetcoin is tradeable across 3 continents through DXMarkets. Uniquely backed by physical assets, Jetcoin is issued by the Jetcoin Institute, which has gathered a team of first-class advisors led by world famous currency expert, Prof. Bernard Lietaer. The Jetcoin Platform will be built with NXT technology to deliver a unique and decentralised financial platform. Jetcoin holders are able to earn revenues through Jetcoin Contracts and its social media rewards system, P.O.S.E. (Proof Of Social Engagement) as well as access unique lifestyle experiences. In August 2014, in a bid to both establish the branding of Jetcoin internationally as well as to secure a testing ground for a myriad of innovative tech applications and crowd funding concepts customised for sports and entertainment, Jetcoin became the first digital currency to become the main sponsor of a Serie A football team, A.C. ChievoVerona. In developing the Jetcoin ecosystem of partnerships, deals have been made with top service providers like Samsung Sportsflow and Pogoseat to optimise fan experience and engagement in sport entertainment. Jetcoin Institute has also recently developed and launched Stadia, a free sport app aimed at increasing fan interaction and engagement during live football. Story continues For a limited time period, jetcoins are available at a promotional price of US$ 0.02 at the official website implementation by https://jetcoininstitute.com. Compared to the Bitcoin, whose rise from its initial sale price of less than US$0.01 to its peak of US$1250, Jetcoin - backed by physical assets - is poised to track an interesting trajectory. About Jetcoin Main sponsor of Serie A football team, A.C. ChievoVerona, 'jetcoin' is a new digital fuel issued by the Jetcoin Institute. It gives fans and supporters in the world of sports and entertainment a unique opportunity to benefit directly from the success of their favourite athletes and stars, both financially and also through unique lifestyle experiences such as seat upgrades, access to VIP boxes, exclusive events, behind-the-scenes and/or after-parties etc. Jetcoin Institute continues to work with partner teams, brands and service providers to offer exclusive deals to jetcoin holders. Visit https://jetcoininstitute.com About Prof. Bernard Lietaer Prof. Lietaer is the author of The Future of Money (translated in 18 languages), and is an international expert in the design and implementation of currency systems. He co-designed and implemented the convergence mechanism to the Euro. Visit http://www.lietaer.com About A.C. ChievoVerona A.C. Chievo Verona is a professional Serie A Italian Football club named after and based in Chievo, Verona, in the Veneto region. Visit http://chievoverona.tv About Samsung Sportsflow SportsFlow delivers the latest sports news, photos and videos from around the world via one single app. Visit http://www.sportsflow.me About XNF XNF is a digital currency with a physical collateral in GOLD. XNF Trading provides the easiest way to acquire virtual currencies (Jetcoin - XNF) in exchange for traditional currencies (USD and EUR) and bitcoins. Visit http://www.nofiatcoin.com About DXMarkets DXMarkets is a cutting-edge trading platform for digital currencies. The platform offers a fully customisable dashboard that caters for beginners and experienced traders. DXMarkets aims to position itself as the preferred choice for financial institutions wanting to integrate digital currencies into their product portfolio. Visit https://dxmarkets.com About NXT NXT is an open source cryptocurrency and payment network, using proof-of-stake to reach consensus for transactions. As such there is a static money supply and no mining as with Bitcoin. NXT is specifically conceived as flexible platform to build applications and financial services around. Visit http://www.nxt.org About Pogoseat Pogoseat is an enterprise solution for sports teams and concert venues that enables their fans to upgrade seats and purchase unique VIP upgrades. Pogoseat currently works with clients across the NBA, MLB, NHL, AFL, The Football League and NCAA all over America. Visit https://www.pogoseat.com About Stadia Stadia is a free app powered by Jetcoin that optimises fan experience during live football, available for download on Android and IOS. Visit http://www.stadia.club For more information about us, please visit https://jetcoininstitute.com Video URL: https://www.youtube.com/watch?feature=player_embedded&v=U6p-3VYPLVg Contact: Celia Wong [email protected] Jetcoininstitute Source: Jetcoin
[Random Sample of Social Media Buzz (last 60 days)]
Current price: 241.25$ $BTCUSD $btc #bitcoin 2015-05-12 21:00:05 EDT || buysellbitco.in #bitcoin price in INR, Buy : 14890.00 INR Sell : 14420.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || #RDD / #BTC on the exchanges:
Cryptsy: 0.00000004
Bittrex: 0.00000006
Average $1.2E-5 per #reddcoin
22:00:02 || In the last 10 mins, there were arb opps spanning 20 exchange pair(s), yielding profits ranging between $0.00 and $1,570.33 #bitcoin #btc || In the last 10 mins, there were arb opps spanning 19 exchange pair(s), yielding profits ranging between $0.00 and $1,393.79 #bitcoin #btc || Bitcoin traded at $236.6 USD on BTC-e at 07:00 AM Pacific Time || $240.00 at 16:15 UTC [24h Range: $237.40 - $240.00 Volume: 1965 BTC] || buysellbitco.in #bitcoin price in INR, Buy : 15347.00 INR Sell : 14868.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || Current price: 224.45$ $BTCUSD $btc #bitcoin 2015-06-05 13:00:05 EDT || In the last 10 mins, there were arb opps spanning 13 exchange pair(s), yielding profits ranging between $0.00 and $1,879.11 #bitcoin #btc
|
Trend: down || Prices: 249.28, 249.01, 244.61, 245.21, 243.94, 246.99, 244.30, 240.51, 242.80, 243.59
|
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 2022-06-10]
BTC Price: 29083.80, BTC RSI: 41.59
Gold Price: 1871.50, Gold RSI: 54.59
Oil Price: 120.67, Oil RSI: 64.80
[Random Sample of News (last 60 days)]
US stocks end mixed as the Dow reverses higher while the S&P 500 hovers near bear market territory: • US stocks were mostly lower Tuesday, with the Nasdaq losing more than 2%.
• Tesla shares dipped below their S&P 500 inclusion price and moved closer to flashing a death cross.
• Billionaire Bill Ackman said markets are imploding as investors lose confidence in the Fed.
US stocks closed mixed Tuesday and the Nasdaq shed more than 2% as the tech sell-off continued afterSnap'splunge.
Shares ofthe social platform droppedmore than 43% after it warned of a slowdown in digital advertising as well as a drag on hiring.
Meanwhile, the Dow reversed course and ended higher, while theS&P 500continued to hover near bear market territory as it sits about 18.5% lower from its most recent high.
Here's where US indexes stood as the market closed 4:00 p.m. on Tuesday:
• S&P 500: 3,942.21, down 0.79%
• Dow Jones Industrial Average: 31,931.06, up 0.16% (50.82 points)
• Nasdaq Composite:11,264.45, down 2.35%
Facebook parentMeta erased $53 billionin market value Tuesday after Snap's downward spiral ripped social media stocks and digital advertising companies.
Tesla's stock is tradingbelow its S&P 500 inclusion priceand on the verge of flashing a bearish death cross. Wedbush's Dan Ives called Musk's bid to takeover Twitter a "circus show" that has dragged on Tesla's share price.
According to Jefferies analysts, small-cap stocks are showing signs of a coming recession, soinvestors should stick to cyclical namesto make it through the bear market.
In a series of tweets, billionaire investor Bill Ackman said markets are imploding because investorsdon't have confidence in the Fed's ability to stop inflation.
"Inflation is out of control," Ackman tweeted Tuesday. "There is no prospect for a material reduction in inflation unless the Fed aggressively raises rates, or the stock market crashes, catalyzing an economic collapse and demand destruction."
Bridgewater's Ray Dalio, meanwhile, said "cash is trash" but stocks are even worse amid the Fed's battle to lower record-high inflation.
The European Central Bank warned that crypto's growth within traditional institutions will create contagion risk that couldthreaten broader financial stability.
"As this is a global market and therefore a global issue, global coordination of regulatory measures is necessary," the bank added.
Oil prices were mixed, withWest Texas Intermediatedown 0.27% to $109.99 a barrel.Brent crude, the international benchmark, moved up 0.19% to $113.61 a barrel.
Goldedged higher 0.97% to 1,865.20 per ounce. The10-year yielddipped 0.096 basis points to 2.959%.
Bitcoinclimbed 0.57% to $29.402.65.
Read the original article onBusiness Insider || Equilibrium/Sustainability — Hydrogen-powered flights hitting California by 2024: ZeroAvia via Youtube Hydrogen-powered short-distance passenger flights could soon be coming to California — paving the way to a future of clean-energy air travel. Seattle-based aviation company ZeroAvia is set to start air tests of the Dornier 228, a 19-seat passenger plane the company has converted to run on a hydrogen-fueled powertrain , according to car-and-truck trade journal AutoEvolution. Last year, ZeroAvia proved the propulsion system — which it calls HyperTruck — could work on the ground when the company used the technology to propel a 15-ton military truck . ZeroAvia hopes to reach a 500-mile range for its regional aircraft, according to Bloomberg. But the company has bigger plans if it manages to get Federal Aviation Administration approval: A 40-80 seat hydrogen-powered airliner by 2026, according to AutoEvolution. Welcome to Equilibrium , a newsletter that tracks the growing global battle over the future of sustainability. We’re Saul Elbein and Sharon Udasin. Send us tips and feedback. A friend forward this newsletter to you? Subscribe here . Today we’ll look at California’s new push to develop an offshore wind industry. Then we’ll explore a practical set of steps that the federal government could take to address carbon pollution from mining cryptocurrencies. California unveils ambitious offshore wind targets California’s energy regulator has unveiled an ambitious set of offshore wind targets as part of a broader statewide push to make electricity 100 percent renewable by 2045. If all goes to plan: Approximately 3 gigawatts of offshore wind should be powering the state’s grid by 2030 — enough to power about 3 million average homes in the state, the California Energy Commission determined. That’s just the beginning: An additional 7-12 gigawatts should be available by 2045, which would boost the state’s total offshore wind capacity to about 10-15 gigawatts, according to a draft report published on Friday. The report also acknowledged : California has upwards of21.8 gigawatts of technically feasible offshore wind capacity There may be sufficient technological developments to boost production to 20 gigawatts between 2045-50. Story continues Moving toward a renewable California : Local and national environment groups applauded the targets as critical to securing a California completely powered by renewable energy sources. “The powerful winds off the Pacific coast are one of California’s largest untapped sources of renewable energy,” Laura Deehan, state director of Environment California Research & Policy Center, said in a statement . The announcement of these targets, she continued, means “that now we are really sailing towards a brighter, 100-percent renewable future.” Where would the wind energy come from? The initial 3 gigawatts planned for 2030 would likely come from one of two places, the report found. The first option is a full build-out of the Morro Bay Wind Energy Area — a 399-square mile zone off California’s central coast, identified last year by the federal Bureau of Ocean Energy Management (BOEM). The second option is a combination of a partial build-out of Morro Bay and the Humboldt Wind Energy Area, located off the North Coast, according to the report. California’s North Coast is considered the region between San Francisco and the Oregon border . North is windier, Center is more strategic: While the North Coast’s wind resources are among “the best in the world with high renewable energy potential,” that area is isolated from the state’s grid and would require new transmission infrastructure, the report authors noted. Transmission along the Central Coast, meanwhile, is already robust and located near large electric load centers, according to the report. The Central Coast also provides opportunities to repurpose aging infrastructure, such as the 2.2-gigawatt Diablo Canyon Nuclear Power Plant, the authors added. MEETING BIDEN’S WIND GOALS In March 2021, President Biden announced a goal of deploying 30 gigawatts of offshore wind capacity nationwide by 2030, while creating a pathway toward 110 gigawatts by 2050, the authors noted. Two months later, the administration reached an agreement with California to advance specific wind energy development projects off the state’s northern and central coasts, as The Hill reported. At the time, the Interior Department said that initial areas of development could bring up to 4.6 gigawatts of energy to the grid and that the federal government aimed to begin selling wind energy leases in mid-2022. In California, the Energy Commission claims that 1 gigawatt can power about a million homes. Harnessing the winds out West: So far, BOEM has conducted competitive lease sales solely on the East Coast, while the agency has designated three areas off the coast of California for possible wind energy projects, according to the report: Humboldt on the North Coast Morro Bay and Diablo Canyon off the Central Coast Market urgency: Prior to the publication of the draft report on Friday, a coalition of environmental groups — called Offshore Wind Now — sent a letter to Gov. Gavin Newsom (D) stressing the urgency of advancing the offshore wind sector. By setting an ambitious goal, they argued, the state will “send a strong signal to the market and to the federal government that California needs and is preparing for offshore wind.” To read the full story, please click here . Green groups urge more regulation of Bitcoin miners Bitcoin is one of the few elements of the digital economy that isn’t becoming more efficient or dropping its carbon footprint, according to a coalition of environmental groups. But the Environmental Working Group, Greenpeace and Earthjustice are pressing the Biden administration to change that by bringing cryptocurrency mining under the same sorts of regulatory controls that have been proposed for the automotive and electric industries. What they want: For federal agencies to use existing powers to subject producers of Bitcoin to “stringent environmental review.” This would mean setting national energy efficiency standards for digital currencies and taking other steps to keep Bitcoin mining from propping up polluting industries or driving up electricity or critical mineral prices. Specific calls to action from federal agencies: In a letter responding to the Biden administration’s call for information on the carbon footprint of Bitcoin, the environmental organizations are demanding several actions: The Environmental Protection Agency must hold Bitcoin miners to strict air, water and noise pollution requirements. The Office of Management of the Budget must create a national registry of industrial-scale proof-of-work mining operations — similar to a step recently required by the state of Texas’s energy regulator, according to Bloomberg. The Department of Energy must set energy efficiency standards for Bitcoin mining that would strengthen over time — and prevent miners from migrating to areas of low-cost or subsidized public power and driving up prices. Financial regulators at the Securities Exchange Commission and Federal Trade Commission must require Bitcoin miners to disclose their carbon footprint and where their energy comes from. What’s the matter with Bitcoin? Unlike producers of most other cryptocurrencies, Bitcoin miners must use a deliberately inefficient, high-energy protocol called “proof of work” to create new “tokens,” or units of currency, according to Bitcoin trading site Coinbase. Under this system, banks of computers must solve complex math problems that grow ever-more-difficult as the number of Bitcoins in circulation rise — an enormous use of electricity that is largely powered through fossil fuel energy , according to a January report from the House Energy and Commerce Committee. JOINING A GROWING CLAMOR FOR REGULATION Because of its use of the proof-of-work standard — as opposed to the far less energy-intensive “proof of stake” — a single Bitcoin transaction adds about 1,000 pounds of carbon dioxide to the atmosphere, or about the same as a flight from New York to Denver , the committee report found. The 2020 global footprint of mining Bitcoin and Ethereum — another cryptocurrency that is still using proof-of-work despite an announced intent to change — was equivalent to the tailpipe emissions from 15 million cars, the committee found. Ten thousand credit card swipes: A single Bitcoin transaction may use as much electricity as 10,000 Visa credit card transactions , according to Statista. Similar concerns have caused the New York state legislature to consider a bill that would ban all new proof-of-work facilities in the state for two years, CNBC reported. That bill is through the State Assembly and now with the New York State Senate. Miners cry foul: If that passes and Gov. Kathy Hochul (D) signs it, “New York will be left behind, losing to other states at best, and at worst, other more progressive nations,” Amanda Fabiano of Bitcoin-mining company Galaxy Digital told CNBC. “New York is setting a bad precedent that other states could follow,” Fabiano added. But how many jobs are at stake? Not many. That’s because most operations are basically server farms staffed by a handful of techs , as Colin Read, the former mayor of mining-hub Plattsburgh, N.Y., told the MIT Technology Review last month. “I’m pro–economic development,” Read said. “But the biggest mine operation has fewer jobs than a new McDonald’s.” CLIMATE CENTER STAGE IN WEST VIRGINIA PRIMARY Tuesday’s House GOP primary for West Virginia’s 2nd District features a face-off between Trump-backed Rep. Alex Mooney and Conservative Climate Caucus member Rep. David McKinley. McKinley has taken a more moderate position on energy compared to other Republicans — pushing for potential clean-energy and climate solutions like hydrogen and carbon capture. Mooney takes a more traditional view on fossil fuels and energy, and has attacked McKinley for voting for the bipartisan infrastructure bill, which contained billions in climate, environment and clean energy spending, according to the White House. West Virginians go to the polls Tuesday, making McKinley the first of several Conservative Climate Caucus members to face tough primaries — an issue that will help determine what Republican politics around energy and sustainability politics will look like in the next Congress. Monday Miscellanies A city-sized new lake in Antarctica, global shipping threatens the world’s largest fish and wealthy Americans seek refuge in “golden visas.” Newly identified lake could hold secret to Antarctic ice sheet: study Scientists have discovered a city-size lake underneath the world’s largest ice sheet in East Antarctica that could help answer questions about what Antarctica was like before it froze and how climate change impacted its history, the researchers stated. Shipping industry may threaten endangered whale shark, biologists find Lethal collisions of whale sharks with large ships are vastly underestimated — and could be contributing to the overall population decline of these endangered animals, an international team of marine biologists revealed in the Proceedings of the National Academy of Sciences . Rich Americans are eyeing the lifeboats The wealthiest Americans are buying up ever-more “golden passports” to foreign countries like Portugal — price tag: $200,000 — in an attempt to insulate themselves from risks like climate change, Yahoo reported. Please visit The Hill’s Sustainability section online for the web version of this newsletter and more stories. We’ll see you tomorrow. VIEW FULL VERSION HERE For the latest news, weather, sports, and streaming video, head to The Hill. || Stocks tumble on inflation fears, Treasury yields jump: By Herbert Lash NEW YORK (Reuters) - U.S. Treasury yields jumped and global equity markets tanked on Thursday, erasing the prior day's rally on Wall Street, as investors worried aggressive central bank policies around the world to tamp down inflation could easily shackle growth. The rout on Wall Street snuffed a rally in European stocks. Fears of a recession, as the Bank of England suggested after it hiked rates earlier in London, quashed enthusiasm from Federal Reserve Chair Jerome Powell's remarks on Wednesday when he said policymakers were not considering 75 basis-point moves in the future. The yield on 10-year Treasury notes rose 12.2 basis points to 3.037%, with inflation-hedge gold rising after Powell emphasized risks to the economy from soaring inflation. Data shows the long end of the Treasury market has suffered the most deeply negative returns this year going back to at least 1928, said Joseph LaVorgna, chief economist for the Americas at Natixis in New York. "I'm surprised by the price action in the Treasury market because this has been an extraordinary historic move," he said. "This is a pretty big move on top of an already significant move. It's due to rising real yields," LaVorgna said. Markets will remain volatile until there is a clear picture of Fed rate policy and its trajectory later this year, said Anthony Saglimbene, global market strategist at Ameriprise Financial. Investors are "worried that when we get to the back half of this year, the Fed is going to be so aggressive with raising interest rates that they're going to take the economy into a recession," he said, adding "there's an overall negative sentiment in the market." Worries about fast-paced rate increases at a time of China's COVID-19 lockdowns and the war in Ukraine to slow surging inflation have heavily weighed on stock markets this year. The pan-European STOXX 600 index fell 0.70% after opening 1.84% higher. MSCI's gauge of global stock performance shed 2.55% as it tumbled to lows last seen in March 2021. The global benchmark is down 14% year to date. On Wall Street, the Dow Jones Industrial Average fell 3.12% and the S&P 500 lost 3.56%. The Nasdaq Composite shed 4.99% in its biggest single-day plunge since June 2020, and closed at its lowest level since November 2020. The technology-rich index is down 21.3% year to date. Britain's pound and government bond yields fell sharply after the BoE raised rates to their highest level since 2009 to counter inflation heading above 10% and warned the UK economy was at risk of recession. Story continues Sterling was last at $1.2364, down 2.04% on the day, while the euro fell 0.7% to $1.0547 after dire German industrial orders data on Thursday. German industrial orders fell more than expected in March,driven mainly by declining orders from abroad as the war inUkraine hit manufacturing demand in Europe's biggest economy. "The German economy is programmed for a downturn," said Thomas Gitzel, chief economist at VP Bank. "The war in Ukraine, the supply chain problems and high rates of inflation are spoiling companies' appetite for investment," he said, adding that a recession was becoming increasingly likely. The dollar index rose 0.946% after falling sharply on Wednesday following the Fed's rate hike. It is up more than 7% so far this year. [/FRX] Bitcoin fell 8.61% to $36,266.98. Graphic: World stocks lose $10 trillion in 2022 - https://fingfx.thomsonreuters.com/gfx/mkt/lbpgnyyekvq/Pasted%20image%201651741024316.png China's battered shares recovered some ground, gaining 0.7% as mainland markets resumed trade after a three-day holiday. Investors also cheered a pledge by China's central bank for more monetary policy support to help businesses badly hit by the latest COVID-19 outbreak. U.S. gold futures settled up 0.4% at $1,875.70 an ounce, after paring gains of more than 2%. Oil prices rose as a stronger dollar offset supply concerns after the European Union's plans for new sanctions against Russia, including an embargo on crude in six months. Traders noted OPEC+ again rebuffed consumer calls for a faster pace of output rises. U.S. crude futures rose 45 cents to settle at $108.26 a barrel and Brent settled up 76 cents at $110.90 a barrel. Graphic: Rate hikes push up global bond market borrowing costs - https://fingfx.thomsonreuters.com/gfx/mkt/akpezyybrvr/Pasted%20image%201651748522040.png (Reporting by Herbert Lash in New York; Additional reporting by Marc Jones in London; Editing by Nick Zieminski and Matthew Lewis) View comments || The Euro Has Tested Support Yet Again: Euro vs US Dollar Technical Analysis The Euro has gone back and forth during the course of the trading session on Monday to show signs of hesitation near the 1.08 level. The 1.08 level has been an area of contention multiple times. That being said, the market is going to pay close attention to this area as it has been a major place of argument. If we were to break down below the 1.08 level, it is possible that we could go looking to reach the 1.06 level underneath. If we bounce from here, the 1.0933 level could be significant short-term resistance, so if we were to turn around a break above there then we will more than likely challenge the 50 Day EMA. If we break above there, then it is possible that the market could go looking to reach the 1.12 handle. The 1.12 handle is where I would believe the trend has changed. That being said, any rally at this point in time will more than likely show signs of exhaustion that we can jump all over, as it would simply be a continuation of the longer-term downtrend. Quite frankly, with the ECB being basically stuck with high inflation but slow growth, it is difficult to imagine a situation where the ECB can be as aggressive as the Federal Reserve. Because of this, the market is one that I think if you take a little bit of time on the trade, you get nice shorting opportunities time and time again. Because of this, I may have to shift to a shorter time frame to place trades. EUR/USD Price Forecast Video 19.04.22 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: Top 5 Cryptocurrencies to Watch This Week: BTC, ETH, LINK, BCH, XMR Crude Oil Markets Run Out of Momentum The British Pound Continues to See Support at the Same Level Gold Prices Rise Despite a Stronger Greenback Natural Gas Markets Continue to Defy Gravity Hyundai To Become the First Automaker To Enter the NFT Market || Bitcoin Slips Toward $38K After Rally Fizzles: Don't miss CoinDesk's Consensus 2022 , the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12. Bitcoin ( BTC ), after a price pop on Monday above the crucial psychological level of $40,000, is again flirting with a six-week low. As of press time, the largest cryptocurrency by market capitalization was down 3.3% in the past 24 hours, trading at $38,210 close to the lowest since mid-March. The bitcoin price climbed as high as $40,800 earlier Tuesday but dropped more than 5% in the past four hours. Bitcoin reversed earlier gains after Russia reportedly suspended gas supplies to Poland , said Edward Moya, senior market analyst at the foreign-exchange brokerage Oanda. That's a sign that war in Ukraine could see further escalations. Bitcoin had a good start following news that Fidelity was planning on offering bitcoin for peoples retirement money, but risk aversion returned as investors remain fixated over aggressive central bank tightening, a worsening Russia-Ukraine war, and a disappointing uptake of using bitcoin as legal tender in El Salvador. U.S.-based financial services firm Fidelity Investments will allow investors to put bitcoin (BTC) into their 401(k) retirement savings accounts later this year, the firm said on Tuesday. Employers could place a ceiling on the amount of savings earmarked for bitcoin, with the maximum cap expected to be no more than 20%, according to CoinDesks Shaurya Malwa. Fidelity is the first major retirement-plan provider to do this, wrote Marcus Sotiriou, Analyst at the UK based digital asset broker GlobalBlock in a newsletter, And I think it sends a significant message to pension providers. Nobody wants to be first, but nobody wants to be last. Yesterday, the Bitcoin Mining Council released a report which highlighted mining efficiency rose by 63% YoY, Sotiriou also wrote, with sustainable energy usage at 58%, marking the fourth quarter in a row above 50%. Furthermore, the network used 25% less energy [year over year]. These improvements are appealing for institutions who see environmental impact as one of the biggest reasons not to invest in bitcoin. Crypto analysis firm IntoTheBlock wrote in a Telegram message that short-term bitcoin holders who tend to follow the price action continue to decrease their positions. The balance held by these traders is 1.49 million bitcoin as of Apr. 25, the lowest since Jan. 18. Ether ( ETH ) was down 2.58% in the past 24 hours, trading at $2,856. U.S. stocks were down today. The S&P 500 was down 1.8% and the Nasdaq was down 2.89%. Fidelity CEO Abby Johnson is scheduled to speak at Consensus 2022 in June. || EXCLUSIVE: Cash App’s Second Apparel Drop Focuses on Sustainability: Following a collaboration with Megan Thee Stallion, the latest apparel drop from Cash by Cash App is shifting focus toward sustainability for a collection called Future Nature, inspired by the “richness of nature.” In launching apparel, Cash App, a leading finance app in the U.S., is bringing to light how practicality and finance fit into everyday fashion. In particular, the Future Nature collection addresses convenience, affordability, style and eco-consciousness. More from WWD Made in Germany Maria McManus Winter 2021 Collection Australian Fashion Week Resort 2022 Collections With the collection, Cash App said all proceeds from the collection will go to Power Shift Network, a nonprofit group made up of youth-led social and environmental justice organizations that are working together to build the youth clean energy and climate movement. Cash by Cash App Future Nature collection. - Credit: Courtesy Image. Courtesy Image. “Our newest collection is inspired by the shapes, patterns, colors and textures found in nature,” said Cash App’s executive creative director, Blažo Calovic. “Along with a number of limited-edition items that incorporate the concept of Bitcoin, our latest collection aims to bring a refreshing, organic and unexpected aesthetic to the intersection of money and fashion.” Notably, Cash by Cash App is designed in-house by Cash App’s brand studio team and produced in Los Angeles. With sustainability in mind, the team was very selective in sourcing materials for the Future Nature collection, using biodegradable materials and recycled fabrics. Utility was also a factor in the designs and can be seen especially with convenient hidden pockets to store a cash card or cell phone. The Future Nature collection includes 34 ready-to-wear pieces ranging from staple items to statement looks. Printed T-shirts, floral jumpsuits, knitted cardigans, patterned ponchos and more have a price range from $25 to $180. Consumers are able to explore the collection through an immersive digital experience that includes an option to view the clothing in 3D. On the Cash by Cash App website’s “otherworldly future nature wonderland” and shoppers can scroll through the looks via augmented reality and drop models wearing the clothing into a living room, park or wherever they choose to explore for a 360-degree look at the clothing details. Story continues Cash by Cash App Future Nature collection. - Credit: Courtesy Image. Courtesy Image. With this gamified digital shopping experience, the company aims to give consumers the opportunity to interact with the collection in a tactile way. Customers are also able to click to purchase for a seamless checkout process that takes just seconds. The Future Nature drop marks Cash Apps’s first integrated sales experience with Afterpay , allowing customers the ability to buy now, pay later or purchase items with their cash card. Customers who purchase the new apparel using Cash App will get 25 percent off. Sign up for WWD's Newsletter . For the latest news, follow us on Twitter , Facebook , and Instagram . Click here to read the full article. || MicroStrategy posts Q1 revenue loss amid falling Bitcoin price: MicroStrategy Inc., the world’s largest corporate holder of Bitcoin, reported a total revenue of US$119.3 million in Q1 , a 2.9% year-over-year decrease. See related article: Terra’s US$10 billion Bitcoin Bet Sends LUNA to Record High Fast facts As of March 31, MicroStrategy’s 129,218 BTC under management had a carrying value of US$2.896 billion and a total market value of US$5.893 billion, representing a cumulative impairment loss of US$1.071 billion. At the time of the report, MicroStrategy’s Bitcoin had an average cost of approximately US$30,700 and a market price of US$45,602.79. Bitcoin’s price has fallen roughly 17% from that time, however, meaning the current total market value would be much lower, at roughly US$4.878 billion at press time . MicroStrategy (MSTR) closed down 6.15% on the Nasdaq on Wednesday, and fell 0.70% after hours, as of press time. MicroStrategy added 4,167 BTC in its latest cryptocurrency shopping spree between February and April, using a loan against its existing Bitcoin holdings. See related article: ‘We should have bought Bitcoin, not gold’ — BNY Mellon fund || 10 things before the opening bell: Welcome back from the weekend. The market has been battered all year — but the beatings may continue . Let's break it down. If this was forwarded to you, sign up here . Download Insider's app here. American flag and Wall Street sign. Banks are facing old and new challenges in fintech M&A Fabrice Cabaud/Getty Images 1. Markets haven't yet seen capitulation from investors. The recent rout in stocks signals an investor exodus is underway, Bank of America strategists wrote in a Thursday note. But downside still looms. To the analysts, the collapse in speculative tech stocks and crypto rivals declines seen during the dot-com bust and global financial crisis, but that doesn't mean capitulation has arrived. "Fear & loathing suggest stocks prone to imminent bear market rally but we do not think ultimate lows have been reached, nor ultimate highs in yields ," the bank wrote. Even as analysts see more losses ahead, corporations could save the stock market by returning a big chunk of their $7.1 trillion cash pile to investors in the form of buybacks and dividends , the bank said in a separate note. "Corporate debt levels are the lowest in decades, leaving ample room to calm nervous shareholders," Bank of America analysts said. But before that happens, the bank said, stocks aren't going to find a bottom until the market sees "investors selling what they love." In other news: Gas station California Gas prices are displayed at a gas station in Inglewood, Calif., Thursday, March 10, 2022. Ashley Landis/AP Photo 2. US stock futures seesawed early on Monday , as traders weighed up data that showed the dramatic impact of the pandemic on China's economy . Meanwhile, wheat prices rose by almost 6% after India imposed a ban on exports. Here are the latest moves. 3. On deck today: Planet Green Holdings, Kingsoft Cloud, and Creative Realities, all reporting. Plus, keep an eye out for John Williams, the president of the Federal Reserve Bank of New York, who is due to make a speech at 8am ET. Story continues 4. Bank of America and UBS strategists broke down whether Wall Street should still hold out hope for a market recovery. Analysts are split on what's next for stocks, as 2022 has seen indexes tumble. Here's four reasons to be hopeful and four reasons to be fearful about the stock market and a potential recovery. 5. Gas prices have surged — but diesel prices have also hit record highs. The sticker price at the pump is noticeable, but a severe supply shortage in diesel holds massive repercussions for the economy and inflation. Here's what you want to know. 6. Crypto billionaire Sam Bankman-Fried says Bitcoin has no future as a payments network. According to the Financial Times, Bankman-Fried said Bitcoin's "proof of work" system won't be able to handle millions of transactions. Here's what else he said. 7. Germany plans to stop importing Russian oil, even if the EU fails to agree sanctions. As per Bloomberg, despite the EU floating a delay to an oil ban, Germany will still push ahead with its national plan to ban Russian oil imports . It comes as Saudi Aramco posted an 82% jump in profits following a surge in oil prices . 8. JPMorgan analysts said the crypto crash isn't a repeat of the 2018 winter yet. They explained why market conditions could still bring "significant upside" despite sagging institutional demand — and they shared which tokens are benefiting from terra's collapse. 9. Famed $18 billion value investing firm Ariel has 7 different funds beating their benchmarks or the broader market. Longtime stock pickers from the company discussed the turn toward value stocks and what they're watching as the market tumbles. Here's what they are buying right now. Consumer sentiment Andy Kiersz/Insider 10. Americans' hope for the economy is sinking. A preliminary reading of University of Michigan's index of consumer sentiment on Friday shows that it's reached its lowest point since August 2011 — that's a dip from 65.2 in April. Keep up with the latest markets news throughout your day by checking out The Refresh from Insider , a dynamic audio news brief from the Insider newsroom. Listen here. Curated by Phil Rosen in New York. (Feedback or tips? Email [email protected] or tweet @philrosenn .) Edited by Hallam Bullock (tweet @hallam_bullock ) in London. Read the original article on Business Insider || CoinDesk Confidential: Loretta Joseph: Don't miss CoinDesk'sConsensus 2022, the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12.
CoinDesk Confidential is a version of the Proust Questionnaire, an interview style popularized during that French novelist's age. It asks a series of questions – some personal, some philosophical, some bizarre – to get to the bottom of someone's true character. Today's respondent, a fintech consultant atFinancial Services Commission, Mauritius, Loretta Joseph is an advocate for financial inclusion. She comes from "the land down under," and sees crypto as a tool for global good. She is a speaker atCoinDesk's Consensus festival. If you want to take the survey,find it here.
Do you own bitcoin?
Yes.
Do you own dogecoin?
Yes.
What about SHIB?
No.
Where are you from?
I come from the Land Down Under.
Greatest fear?
Eels.
Greatest joy?
My daughter.
What is the quality you most like in a man/woman/person?
Sincerity.
What do you consider the most overrated virtue?
Fidelity.
Do you often remember your dreams?
Always.
Do you like lemons?
Absolutely.
Is crypto still blossoming?
Of course.
Is crypto an ugly duck?
No, it's an adolescent swan.
Should Elon Musk run Twitter?
God, no!
Should countries be run as companies?
No, because there is no sincerity from most humans.
In 100 years, will there be more or fewer kinds of monies?
Many more.
Is the U.S. dollar a Ponzi scheme?
Lol! No.
Who is your favorite politician? Why?
Mahatma Gandhi ... He was the OG (original gangster) of freedom fighters.
Is Bitcoin forever?
Forever and beyond ...
Which living person do you most admire?
His Holiness Dalai Lama 14th,
What is your idea of perfect happiness?
Lying on a beach.
Ću vi parolas esperanton?
No.
Do what you want or do what you must?
Do what you must.
Would you choose a green thumb or the absolute guarantee you will never get gangrene?
The latter.
What is your best characteristic?
My integrity.
What characteristic do you most deplore in yourself?
My honesty.
Do you use a hardware wallet?
Yes.
Greatest extravagance?
French Champagne.
Your worst regret?
Words left unsaid.
Favorite TV show? (What you're watching now?)
The Kardashians ... dare anyone say they are not bad ass.
Any words of wisdom?
"Live and let live."
You can have one historical figure over for coffee, who do you choose?
Cleopatra ... Wow, what did you really say to those men?
Jack Dorsey wanted a “Blue Sky” for Twitter; should the web only be built on open protocols?
I am privileged to be mentored by Bob Kahn on open systems; if he has taught me one thing, it's of course it should.
Approximate size – depth and width – of the largest hole you’ve dug?
15 centimeters x 15 centimeters ... I was trying to dig a cube.
What is your greatest achievement?
My school in Ladakh, India The Lamdon Jamyang School patroned by his Holiness The Dalai Lama 14th
AI. To be pursued?
The horse has bolted...
Your current state of mind?
Accepting.
Would you choose to live forever? Why or why not?
No, because i have a use by date.
Do cars look like faces to you?
No.
Dogs or cats?
Dogs.
Can dogs smile?
Only on the inside.
Who is your favorite singer?
Sting.
Napkins: for or against them?
For.
Do you have a library card?
Yes.
How is the weather today?
Bloody brilliant.
On what occasion do you lie?
When I have eaten all the chocolates.
What do you most dislike about your appearance?
My Roman nose.
Which living person do you most despise?
Putin.
Do you write a list before grocery shopping?
Never.
If you could be safely catapulted somewhere, would you prefer to walk?
Yes and in high heels.
Do you own an article of clothing that could be called indigo?
Most certainly not.
Bees see ultraviolet; do you see the same world (or most of it)?
Nope ... that's one for the millennials
New York or San Francisco bagels?
Neither. I'm gluten intolerant.
How many glasses of water do you drink per day?
Twenty-five.
Are birds real?
Is this a trick question?
What drives you?
Changing the world.
Would you ever drive a red convertible regularly?
No.
What or who is the greatest love of your life?
My daughter.
Which words or phrases do you most overuse?
Really?
What’s your strongest-held belief that would get you "canceled"?
That men and women are equal.
What’s the funniest/smartest tweet you’ve seen that can recall off the top of your head?
"Poor again" CZ.
Single favorite meme?
Mr. Bean-Being single
If you could be granted one superpower, what would it be?
Telepathy.
How would you like to die?
In my sleep.
In three words or fewer, what is currently the largest detriment to society?
Climate change.
In three words or fewer, what is currently the greatest hope for society?
The next generation. || Overnight Availability of Funds to Transform the BTM Industry: Patent-pending Provisional Posting software provides BTM Operators access to funds from daily sales activity for use the following morning, giving BankLine's partner banks a competitive advantage in the Crypto market.
BankLine + Provisional Posting
MIAMI, May 25, 2022 (GLOBE NEWSWIRE) --BankLineannounced a Master Licensing Agreement withProvisional PostingLLC for the distribution of a patent-pending software solution that allows Crypto-friendly banks to provide overnight availability of funds to Bitcoin ATM Operators. This innovation revolutionizes the Bitcoin ATM (BTM) industry by optimizing the rotation of capital, eliminating the "float", and increasing a BTM Operator's daily capitalization by 40% or more.
BankLine'sbank-centricsoftware solution was created by veterans of the banking industry to provide the financial institution with a robust set of back office reconciliation tools, automated reporting, and complete visibility of the cash cycle throughout the settlement process.
BankLine's BTM Operators receive overnight availability of funds, streamlining control of the cash cycle that traditionally restricts the use of the funds for as long as 14 days.
The patent-pending Provisional Posting software is engineered to be compatible with Genesis Coin, General Bytes, Bitaccess and other customized BTM software solutions.
BankLine's Technology Streamlines Business For BTM Operators
BankLine's software allows BTMs to transmit daily sales activity directly to the ODFI (Originating Depository Financial Institution) for overnight availability of funds - streamlining the entire cash supply chain. Access to overnight deposits allows BankLine's BTM Operators to reduce or eliminate the need for lending lines and related interest charges. BankLine's groundbreaking technology provides a truly interactive relationship between the Operator's BTMs and their financial institution.
What Overnight Availability of Funds Means to the BTM Industry
Overnight availability mitigates the time associated with Cash in Transit. Traditionally, cash handling involves a number of time-consuming processes. Employees spend hours manually reconciling cash as funds are processed to the BTM Operator's bank account. Provisional Credit exponentially improves the reconciliation process and increases efficiency, resulting in higher profit and corporate expansion.
President and CEO of BankLine, Mark Ochab, promises; "BankLine will continue to deliver redundant banking relationships in addition to the latest technologies and innovative services in combination with stellar Customer Service. Overnight availability of funds is a completegame-changerfor the Crypto BTM industry. BankLine is pleased to be the first to implement a totally customized patent pending Provisional Posting software solution, built from the ground up for our Crypto-friendly Banking partners as well as the BTM Operators."
BankLine strives to become the ultimate end-to-end cash management and banking service solution for the Crypto BTM industry by enabling more efficient, controlled, and cost-effective services.
Steve Bessen, BankLine's National Sales Director, adds, "Streamlined control of the cash cycle, improved cash reporting from multiple locations, and faster reconciliation will give BankLine's BTM Operatorsa competitive edgeby more efficiently rotating working capital and allowing the BTM Operator to redirect its energies toward growth and expansion."
About BankLine
BankLine is the only Crypto-friendly banking solution that offers a portfolio of redundant financial institutions willing to serve the varied needs of the Crypto industry. BankLine's network of Crypto-friendly banks and services helps mitigate the threat of bank discontinuance and provides ongoing, sustainable, and scalable banking and support services.
Each BankLine customer has a direct relationship at a FDIC insured depository institution. The accounts are titled in the business entity's name and are exclusive for the entity's activity.
By contracting with more than 300 Cash Vault facilities managed by Loomis, Brinks, and Garda. BankLine's banks currently provide service to more than 29,000 BTM locations in the continental US, Hawaii, Alaska and Puerto Rico.
In addition, BankLine's partner banks provide Over The Counter services for Online Crypto companies.
Learn more atbankline.com
About Provisional Posting LLC
Provisional Posting software was developed to integrate and automate daily deposit and cash extraction information. Electronic Data from Bitcoin ATMs (BTMs) and Armored Carriers is transmitted to the BTM Operator's bank. Provisional Posting software facilitates overnight credit and availability of funds directly to the Merchant DDA Bank Account by the following morning at 9:00am Eastern Time.
Overnight availability of funds provides BTM Operators with an accelerated rotation of working capital and increased efficiency, resulting in greater profit.
Banks utilizing the Provisional Posting LLC patent pending software eliminate the need for time-consuming manual reconciliation and posting, reduce keying errors, and more efficiently manage the CTR filing process.
Learn more atProvisional Posting
Media Contact:
Andy [email protected]
Related Images
Image 1: BankLine + Provisional PostingBankLine and Provisional Posting team up to provide BTM Operators access to overnight funds
This content was issued through thepress release distribution service at Newswire.com.
Attachment
• BankLine + Provisional Posting
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 28360.81, 26762.65, 22487.39, 22206.79, 22572.84, 20381.65, 20471.48, 19017.64, 20553.27, 20599.54
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2022-12-08]
BTC Price: 17233.47, BTC RSI: 51.11
Gold Price: 1788.70, Gold RSI: 63.28
Oil Price: 71.46, Oil RSI: 30.60
[Random Sample of News (last 60 days)]
UK Considers Hiking Capital Gains Tax to Help Plug Fiscal Hole: (Bloomberg) -- Chancellor of the Exchequer Jeremy Hunt is considering increasing the headline rate of capital gains tax as he and Prime Minister Rishi Sunak seek ways to plug the UK’s fiscal hole. Most Read from Bloomberg Lawyer Suing Twitter Over Layoffs Says Musk Trying to Comply Wells Fargo Faces US Demand for Record Fine Exceeding $1 Billion Musk Eliminates ‘Days of Rest’ From Twitter Employee Calendars Enough Is Enough: Nike Suspends Kyrie Irving Relationship Carvana’s 96% Collapse Erases Billions From Father-Son Duo’s Wealth Hunt, who will deliver a major economic statement on Nov. 17, is also looking at cutting capital gains tax allowances and reliefs, according to two officials familiar with the matter who spoke on condition of anonymity because no final decisions have been made. A Treasury spokesperson said they wouldn’t speculate on tax changes. The government says no options are off the table as ministers seek £50 billion ($56 billion) of spending cuts and tax rises to stabilize Britain’s public finances, which face growing demands due to inflation at a 40-year high, stalling growth and a squeeze on the cost of living. Other potential measures include raising more from taxes on dividends and windfall profits of oil and gas firms, and real-terms cuts to departmental budgets. Read More: Chancellor Jokes About Britain’s Dismal Economic Situation The Hunt package will come amid a bitter economic backdrop for the UK, with the Bank of England predicting a long recession and the economy potentially shrinking 1.7% over 18 months. That creates a major political challenge for Sunak, who has to call a general election by Jan. 2025 at the latest and whose Conservative Party already badly lags the opposition Labour Party in the polls. ‘Inevitable’ Tax Rises Hunt and Sunak are trying to strike a message of fairness with their economic plans: A Treasury readout of their meeting earlier this week said they agreed “those with the broadest shoulders should be asked to bear the greatest burden.” Though they also said it would be “inevitable” everyone would need to pay more in tax. Capital gains tax, which is levied on profits from the sale of assets, is expected to raise £15 billion in the current tax year, according to the Office for Budget Responsibility. That’s about 1.5% of all UK tax receipts. Rates of capital gains tax range from 10% to 28%, depending on the income of the taxpayer and the type of asset sold. There is currently a £12,300 tax-free allowance for individuals. A one percentage-point increase in the main higher rate of capital gains tax would be worth about £145 million according to Treasury estimates. Story continues The government’s Office for Tax Simplification in 2020 recommended overhauling the levy to align it more closely with income tax rates, saying that “in theory” such a move could be worth 14 billion pounds, but in practice it was likely to be lower because of behavioral changes such as people delaying disposals. The potential changes to capital gains tax were first reported by the Telegraph late on Thursday. Earlier on Thursday, Bloomberg reported that Hunt is considering cutting the tax-free allowance for dividend income, which is currently set at £2,000. A £1,000 reduction in the allowance would be worth about £455 million a year to the exchequer, according to Treasury calculations. Hunt is also expected to extend a current freeze on income tax thresholds and allowances, which will drag more Britons into higher rates of income tax in the years ahead due to high inflation. Most Read from Bloomberg Businessweek El Salvador’s $300 Million Bitcoin ‘Revolution’ Is Failing Miserably Yeezy Roller Coaster Ended With Two-Minute Phone Call at Adidas US Housing Hit by Spiraling Mortgage Rates as Inflation Persists 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. View comments || US Accounts For 37% of All DeFi Volume—More Than Any Other Region: Bitcoin dominance has decreased more in the U.S. than in any other region, according to a new report from Chainalysis. The world's largest cryptocurrency by market capitalization saw its dominance slip by 6% between July 2021 and June 2022 in the U.S.—thanks, in large part, to the region accounting for more DeFi activity than any other. On Thursday morning, the DeFi ecosystem had $53 billion worth of assets locked in various protocols, according to DeFi Llama . The category has lost more than $100 billion since the start of the year. Even so, the U.S. accounts for 37% of all DeFi activity analyzed by Chainalysis, followed by 31% in Western Europe. Under the DeFi umbrella, decentralized exchanges, or DEXes, account for the most value received and tend to be used primarily by professional and institutional investors. After DeFi, NFTs rise in popularity But NFTs lead the category for generating the most web traffic. It's a sign that NFTs have been the main draw for mainstream customers to enter DeFi, according to the report. And it's not the only sign. Earlier this week, a Reddit executive said that the company's Collectible Avatars NFT series has onboarded more than 3 million new Web3 users . In terms of all crypto transaction volumes, DeFi and otherwise, the U.S. accounted for more than $1 trillion over the last year and is second only to Western Europe. That means in the past year, U.S. investors were involved in one in every five crypto transactions, according to the Chainalysis report . Current market weakness seems to have focused project teams on very easing financial pain points, like mortgages, identity verification, and the tokenization of physical assets, Matt Van Buskirk, co-founder and CEO at crypto compliance startup Hummingbird, said in the report. To that end, the U.S. and Western Europe have an advantage over other regions because of the deep talent pools of engineers and researchers. "There are big concentrations of developer talent and academic interest in hubs like New York and London, so you see a lot of blockchain projects from those areas," he said. "I'm advising people building great projects in places like Latin America, but it's harder for them to find talent and funding without coming to somewhere like Silicon Valley." || Bitcoin price crash: Why is the crypto market once again in turmoil?: Bitcoin is down roughly 75 per cent from its all-time high reached in November 2021 (Getty Images/ iStock) Cryptocurrency is in crisis again. In the space of three days, roughly $200 billion has been wiped from the market, as the worlds third biggest exchange by trading volume risks a complete collapse. Bitcoin alone is down more than 75 per cent from the all-time high it saw just one year ago, having fallen to its lowest price since the tailend of 2020. But this is nothing compared to the losses seen by FTT, which is the native cryptocurrency for the beleagured FTX exchange. The crypto token, which ranked in the top 20 cryptocurrencies globally as recently as last week, is down nearly 90 per cent in just four days, having seen its fortunes mirror those of FTX. So what caused this crisis, is it over yet, and where will the crypto market go from here? After one of the most prolonged periods of stability in the history of cryptocurrency , cracks began to appear last weekend when the boss of the worlds largest crypto exchange announced that the company would be selling its entire holdings of FTT. Binance CEO Changpeng Zhao, known as CZ, cited recent revelations that have come to light for liquidating hundreds of millions of dollars worth of FTT. It followed a report in CoinDesk that questioned the relationship between FTX and the trading firm Almeda, both of which were founded by Sam Bankman-Fried. The crypto publication claimed that a private financial document revealed that 40 per cent of Almedas $14.6 billion balance sheet was made up of FTT holdings, meaning the trading giant rests on a foundation largely made up of a coin that a sister company invented, rather than an independent asset like bitcoin or the US dollar. Concerns about the financial health of FTX led to billions of dollars worth of cryptocurrency withdrawals in just a few days, causing the entire crypto market to nosedive, as well as creating a liquidity crisis for FTX. Mr Bankman-Fried sought the help of investors before reaching out to CZ, who agreed to a non-binding deal to takeover rescue deal. Within 24 hours, however, he pulled out, causing the market to fall even further. Story continues In a statement posted to Twitter, Binance wrote: In the beginning, our hope was to be able to support FTXs customers to provide liquidity, but the issues are beyond our control or ability to help. The future of FTX remains precarious, with Mr Bankman-Fried attempting to explain his companys position in a lengthy Twitter thread on Thursday. Im sorry. Thats the biggest thing, he wrote. I fucked up, and should have done better. Right now, my number one priority by far is doing right by users. And Im going to do everything I can to do that... Were spending the week doing everything we can to raise liquidity. I cant make any promises about that. But Im going to try. The extent of the resulting downturn is so severe, some analysts warn, that it risks destabilising the broader economy. Crypto losses so far by retail and digital asset institutional participants have largely remained contained within the crypto sphere, a credit positive for banks and evidence of banks fairly cautious approach to crypto in light of the uncertain regulatory environment, said Fadi Massih, a vice president at Moodys Investors Service. However, should leverage again build substantially in the crypto finance system, it could unsettle the banking system, even if banks continue distancing themselves from direct interaction with the crypto economy. || Markets: Bitcoin, Ether prices fall; Dogecoin, Shiba Inu bull run continues; BNB gains: Bitcoin and Ether prices fell in Tuesday morning trading time in Asia, while most other top 10 cryptocurrencies by market capitalization, excluding stablecoins, either rose or fell by less than 1%. Memecoin Dogecoin and Shiba Inu had the biggest gains among the top 10, still benefiting from the buzz of long-time Dogecoin advocate Elon Musk buying social media platform Twitter Inc.
See related article:Fortune favors the brave? One year on from Crypto.com’s ad with Matt Damon
• Bitcoin lost 0.66% to US$20,499 in the 24 hours to 8 a.m. in Hong Kong and Ether dropped 1.10% to US$1,573, according to data fromCoinMarketCap. Among others in the top 10, XRP rose 1.63% to US$0.4659.
• Dogecoin rose 7.67% to US$0.1268, continuing its bull run. It’s up 113.48% over the last seven days. Over the weekend, the meme token hit its highest since May of US$0.1407 after Elon Musk said on Friday that his US$44 billion deal to acquire Twitter had completed.
• BNB also added to gains related to the Twitter deal, rising 3.91% on Tuesday to US$326 amid confirmation thatBinance invested US$500 millionin Musk’s Twitter acquisition. Dogecoin’s meme-rival Shiba Inu is also on a bullish run, rising 4.29% to US$0.00001246 in the last 24 hours, for a gain of 25.64% over the previous week.
• U.S. equities dipped on Monday. The Dow Jones Industrial Average fell 0.39%, the S&P 500 Index lost 0.75%, and the Nasdaq Composite Index declined 1.03%.
• The drop in stocks comes ahead of the Federal Open Market Committee (FOMC) meeting this week on Nov. 1 and 2 where the Fed is expected to raise interest rates by 75 basis points in its drive to slow inflation.
• The Fed lifted interest rates from near zero in March to 3.25% now as inflation reached a near 40-year high of 8.2% in September. The Fed had indicated it will continue this policy until inflation reaches a target range of 2%.
See related article:Web 2.5 is new Web 3.0, says co-founder of blockchain VC firm Kenetic Capital || 7 Stocks Rattled by Corporate Scandals and Shenanigans in 2022: High inflation and soaring interest rates have been the main factor behind the double-digit stock downturn so far this year, but alongside these macro factors, many stocks have plunged due to more company-specific issuesfor example, corporate scandals. These scandals run the gamut, both in the type of scandal and the severity of the scandal. Categories include bribery, fraud, stock manipulation, and even non-criminal charges, such as negligent and strict liability torts. In some cases, the scandal has merely been the allegation of malfeasance, yet the allegation alone has been enough to tank shares. In other cases, the scandal occurred years back, with the respective company (and the stock) paying for it today. InvestorPlace - Stock Market News, Stock Advice & Trading Tips However, whether guilty of the crime or merely struggling to put allegations behind them, the question is whether these seven corporate scandal stocks can make a recovery. Lets dive into each one and see if a comeback is possible. Symbol Company Price BBBY Bed Bath & Beyond $3.58 CS Credit Suisse $4.41 ERIC Ericsson $6.10 HYZN Hyzon Motors $1.80 MMM 3M $130.51 SAVA Cassava Sciences $37.25 TSP TuSimple Holdings $2.57 Bed Bath & Beyond (BBBY) bed bath & beyond storefront (BBBY) Source: Shutterstock Once a popular meme stock, Bed Bath & Beyond (NASDAQ: BBBY ) has fallen to fire sale prices. Shares in the home goods retailer today have fallen to a low not hit since the onset of the pandemic. The main reason for this big tumble for BBBY stock has been deteriorating fundamentals. Yet alongside this factor, a corporate scandal also played a role in sending Bed Bath & Beyond to the low single digits. Following BBBYs last big meme run in August, a shareholder filed a lawsuit against financier Ryan Cohen (then a large shareholder), along with the companys then-CFO Gustavo Arnal, alleging that a pump and dump had taken place . Shortly after this suit, Arnal died tragically. This lawsuit is still pending, but as I discussed earlier this month, with bankruptcy and/or shareholder dilution risks in mind, stay away from BBBY. Story continues Credit Suisse ( CS ) A sign for Credit Suisse (CS) hangs in Zurich, Switzerland Source: Pincasso / Shutterstock.com Credit Suisse (NYSE: CS ) has faced and continues to face many corporate scandals. The Switzerland-based global banks heavy loan losses and still-present concerns about the riskiness of its balance sheet may be what pushed shares around 55% lower since the start of 2022. However, said scandals certainly havent helped the situation for CS stock. Around the world, Credit Suisse has faced litigation and regulatory scrutiny due to its alleged role in various frauds, money laundering, and even corporate spying. Further damaging CSs reputation, its questionable whether going contrarian on this distressed financial stock. Given that Credit Suisse is at work to restructure, you may not want to assume speculative chatter about it going bust will prove true. That said, even if the bank does survive, it may take time for CS stock to bolt out of penny stock territory and back toward prior price levels. Ericsson (ERIC) Ericsson (ERIC) logo on a smartphone screen. Source: rafapress / Shutterstock.com Sweden-based telecom equipment giant Ericsson (NASDAQ: ERIC ) has been ensnared by a bribery scandal this year. In February, the company disclosed that it was conducting an internal investigation regarding alleged payments made to the terror group ISIS in Iraq between 2011 and 2019. News of this resulted in an immediate sharp drop in the price of ERIC stock. Then in April, Ericsson disclosed it would likely be fined by U.S. regulators due to this scandal, although it did not provide specific numbers. Beyond regulatory fines, the company also faces a civil lawsuit filed by the families of U.S. military and civilian victims of ISIS, related to these alleged bribes. Although this controversy may not put Ericsson out of business, this is yet another headwind for the company to contend with, as inflation and the economic slowdown start to have an impact on its operating results . Hyzon Motors (HYZN) A person refueling a hydrogen car representing Hyzon Motors (HYZN) stock. Source: Literator / Shutterstock.com In the case of electric vehicle startup Hyzon Motors (NASDAQ: HYZN ), short-seller allegations turned into a bona fide investigation earlier this year. In January, the U.S. Securities and Exchange Commission (or SEC) began to look into claims made by Blue Orca Capital in its Hyzon short report. Thats not all. In August, more red flags began to surround HYZN stock. As InvestorPlaces David Moadel discussed at the time, shares tumbled around 40% when this maker of hydrogen-electric commercial vehicles not only delayed its Q2 filing but disclosed an internal investigation related to governance/compliance issues and explicitly stated that past financial statements can no longer be relied upon. Shares have kept tanking, with HYZN down more than 72% for the year. As the Q2 results still need to be released, the stock may get de-listed from the Nasdaq Exchange . Further downside stemming from corporate scandals may lie ahead. 3M (MMM) a photo of 3M protective masks Source: r.classen / Shutterstock.com Although not the subject of bribery, fraud, or other possible criminal allegations, 3Ms (NYSE: MMM ) corporate scandals may be a severe financial setback. In October, I discussed how two tort cases could continue to drag on returns . First, theres the litigation regarding 3Ms past manufacture of PFAS chemicals, sometimes called forever chemicals by critics. The company could be financially liable for its environmental impact in the U.S. and Europe. Second, 3M is also still working to minimize its liabilities related to its past sale of military earplugs, which over 230,000 military veterans allege were defective , causing issues such as hearing loss and tinnitus. In total, these liabilities could top $33 billion . While MMM stock bulls will say this risk is priced-in, you may want to wait for some positive developments on these cases to emerge before buying this hard-hit blue-chip stock. Cassava Sciences (SAVA) Cassava Sciences Inc logo visible on display screen. SAVA stock Source: Pavel Kapysh / Shutterstock.com Back in 2021, allegations of data manipulation knocked the wind out of biotech stock Cassava Sciences (NASDAQ: SAVA ). In 2022, these allegations, related to its flagship drug candidate, Simufilam (an Alzheimers treatment), have continued to affect its performance. However, as Louis Navellier has argued, while this issue continues to hang over SAVA stock, little has come out to back these allegations . However, even if it becomes undeniable that these claims are not true, that doesnt necessarily mean its all uphill from here for shares. Like many other clinical-stage biotech firms, SAVA is a high-risk, high-potential reward opportunity. If Simufilam gets regulatory approval, shares could take off once again. If Simufilam does not get approval, SAVA may not fall to zero. Shares will, however, likely experience a severe (high double-digit) drop in price. Unless you are experienced in risky biotech plays, sitting on the sidelines may be the better move. TuSimple Holdings (TSP) TSP stock: a hand holding a phone displaying the Tusimple logo in front of a computer displaying the company's investor relations page Source: T. Schneider / Shutterstock As InvestorPlaces Eddie Pan reported in September, Ark Invests Cathie Wood has backed up the truck with TuSimple Holdings (NASDAQ: TSP ) with her firms ARK Innovation (NYSEARCA: ARKK ) exchange-traded fund (or ETF) loading up on this autonomous trucking play . Yet while Ark may be averaging down in TSP stock, a comeback is debatable. Why? Corporate scandals have played a role in the stocks more than 92% decline this year and could continue to hurt its performance. Already under regulatory scrutiny due to an accident with one of its autonomous trucks, TuSimple is also in the FBI and SECs crosshairs . This FBI/SEC probe has resulted in some C-suite drama, with the board removing CEO Xiaodi Hou, only for Hou and co-founder Mo Chen to take back control, using their majority stake to oust TuSimples independent directors . This leaves TSP at risk of de-listing, which will negatively affect shares. On the date of publication, Thomas Niel 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 . Thomas Niel, contributor for InvestorPlace.com, has been writing single-stock analysis for web-based publications since 2016. 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 doesnt matter if you have $500 or $5 million. Do this now. The post 7 Stocks Rattled by Corporate Scandals and Shenanigans in 2022 appeared first on InvestorPlace . || Inside the First Crypties Awards Ceremony: “I know most people in this room have at some point heard that they were crazy,” said Joshua Ostrovsky, aka The Fat Jewish, addressing the crowd at Faena Forum on Wednesday night. The entertainer was facing rows of creators from the crypto world, gathered in Miami Beach for the first Crypties awards ceremony celebrating blockchain excellence, presented by Decrypt Studios. “Your skeptical friends and out of touch Boomer parents all told you that cryptocurrency is a passing fad, and that all of these coins one day would be totally worthless,” continued Ostrovsky, the evening’s MC. “But tonight, here at the Faena Ballroom, we can finally say: only some of them.” More from WWD CORE Miami: A Special Evening To Benefit CORE's Vital Disaster Relief Effort Inside the Inaugural Crypties Awards During Art Basel Miami Beach Art Basel Miami Beach: Lil Wayne, 2 Chainz Round Out the Week The ceremony was quick to address the many elephants in the room, including disgraced FTX founder Sam Bankman-Fried. The opening video posed a question that many in the crowd were wondering — “Where is Sam Bankman-Fried?” — and a photo of the “on the lam” crypto exchange founder drew boos from the crowd. “We’re celebrating art and creativity tonight and the Web3 space in general,” said Decrypt Studios founder Alanna Roazzi-Laforet during the pre-ceremony cocktail hour. “It’s a trying time because of what’s going on with FTX, but it shows that there’s commitment to the space. People are super excited; they really want to show their innovations and that they’re moving forward in a positive way,” she added, surveying the crowd, who donned their “black tie optional” finest for the occasion. “We don’t dress up in crypto at all; it’s usually T-shirts and shorts. So this is a very special event, because nobody ever wears black tie.” Pink-haired PussyDAO founder Izzy Howell, dressed in teal, had launched an NFT earlier that day that could be redeemed for a pair of physical panties. Howell, who previously worked at Tamara Mellon, got the idea to launch NFTs tied to lingerie while she was at utility token project Cipher. Story continues “It started as a joke,” Howell said. “I was working at another crypto company and all of the guys were talking about liquidity, and they kept saying, ‘Liquidity is all that matters, it’s the most important thing,’ and for whatever reason the next thing in my head was I wanted to make a pair of underwear that said ‘highly liquid’ on the crotch. And everyone wanted to buy it. I have them with me,” she added, pulling the lingerie from her fuzzy pink handbag. “We launched literally today, and we’ve been selling like crazy.” Lamina1 president Rebecca Barkin , who spoke to the need for more female leadership within the crypto community, is building a layer one blockchain to support an open metaverse economy. “Our focus is to give creators a path toward more favorable economics outside of this system we have today,” she said. While the Crypties celebrated blockchain excellence, the ceremony also paid tribute to the blockchain lows. The ceremony opened with an “in memoriam” that paid tribute to celebrities whose dreams of striking it big in cryptocurrency have since died: Odell Beckham Jr. — who lost half of his 2021 salary by accepting payment in Bitcoin; Madonna; Floyd Mayweather; Paris Hilton; Tom Brady; DJ Khaled; Quentin Tarantino, and Kim Kardashian, who was fined $1.26 million for failing to disclose that she was paid to promote EthereumMax. Winter may have arrived early this year for the crypto world, but the mood at the inaugural Crypties was sunny. The evening’s winners included Crypto Unicorns (game of the year); Celo (social impact award); People of Crypto for the Metaverse Pride Parade (Metaverse event of the year); Lens Protocol (Defi project of the year); Coinbase Ventures (investor of the year); ENS DAO (DAO of the year), and Bored Ape Yacht Club (NFT project of the year). “I feel like I finally got my Grammy,” said Bored Ape Yacht Club’s Illa Da Producer, accepting the golden statuette on behalf of the project’s founders. Illa Da Producer Launch Gallery: Inside the Inaugural Crypties Awards During Art Basel Miami Beach Click here to read the full article. || Bitcoin Could Rally to $63K Ahead of Next Mining Reward Halving: Matrixport: "Be fearful when others are greedy and greedy when others are fearful," legendary investor Warren Buffett once said. Perhaps now is the time to be greedy in the crypto market as the battered bitcoin (BTC) could soon find relief and rally to $63,000 by March 2024, when the cryptocurrency is likely to undergo mining reward halving a programmed code aimed at reducing the pace of supply expansion by 50% every four years. That's the latest forecast from Markus Thielen, head of research and strategy at crypto services provider Matrixport, which has $10 billion in assets under management. The positive prediction is based on the assumption that bitcoin will repeat the bullish price action seen in the lead-up to the July 2016 and April 2020 halvings. On both occasions bitcoin ran into bullish winds 15 months ahead of the halving and, in the halving month, traded 39% higher from where it changed hands two years ago. So if history is a guide, bitcoin could see a change of fortunes starting next month and rise to $63,160 by March 2024 to trade 39% higher than the March 2022 price of $45,538. "Prices started to rally 15 months before the next halving (November 2022) and they tend to finish 39% from where they traded 24 months prior. This would imply that bitcoin trades around $63,160 (March 2022 at $45,538*(1+39%) = $63,160) by March 2024," Thielen wrote in the latest edition of Matrix on Target note. If history is a guide, bitcoin could run into bullish winds starting next month. (Matrixport Technologies) Past performance is no guarantee of future results. That said, history often rhymes and the macro outlook could improve in the coming months. Federal Reserve officials recently hinted at a slower pace of monetary tightening from December. Besides, there are signs of China softening its stance on crypto, according to Thielen. "The timing of Hong Kong potentially legalizing retail crypto trading in order to become a crypto hub right after China's Party Congress, which is held only twice every decade, signals that China is changing its stance towards crypto," Thielen noted. Story continues "Russia has also changed its stance in light of the economic sanctions. President [Vladimir] Putin and China are seeking an alternative to the USD system. Together with Saudi Arabia, which desires to join the BRICs nations and is keenly interested in upgrading their economy into Web3, a new multi-year crypto bull market might be starting," Thielen added. Bitcoin has seen three reward halvings to date. Prices soared from $8,800 to $69,000 in 18 months following the third halving dated May 12, 2020. (buybitcoinworldwide.com) The fourth halving was initially slated to happen in May 2024. However, with the hashrate or computing power dedicated to mining blocks surging during the bear market, the reward halving is now expected to take place in March 2024. After the event, the per block reward paid to miners will drop from 6.25 BTC to 3.12 BTC, bringing the cryptocurrency's inflation rate down to 1.1%. Bitcoin miners solve complex algorithmic problems to mine blocks and verify transactions in return for rewards paid in BTC. The cryptocurrency's fixed monetary policy of halving supply expansion every four years contrasts with the ever-increasing fiat money supply. That has motivated many, including business intelligence firm MicroStrategy , to adopt bitcoin as a reserve asset. || Grayscale Bitcoin Trust falls as cryptocurrencies slide again: (Reuters) - Grayscale Bitcoin Trust, the world's largest bitcoin fund, fell almost 7% on Wednesday, as investors dumped more digital assets after last week's high-profile unraveling of crypto exchange FTX. Crypto investment bank Genesis Global Trading said in a tweet it was temporarily suspending redemptions and new loan originations in the wake of FTX's collapse, which has given cryptocurrencies another hammering this year. Genesis, the latest company to be hit by FTX turmoil, is owned by Digital Currency Group (DCG), which is also the parent company of Grayscale. DCG tweeted that freezing Genesis' lending business had no impact on the firm and its wholly-owned subsidiaries. Grayscale said it would be business as usual for its products and its underlying assets were unaffected. Grayscale Bitcoin Trust's discount to its net asset value, which hit an all-time low of 41% last week, is now at 37%. Shares have not traded at a premium since March 2021, Coinglass data showed. The trust is a close-ended fund, whose short-term price is driven by supply, demand and market sentiment unlike an exchange traded fund that generally trades in line with its value. In June, Grayscale sued the U.S. Securities and Exchange Commission for nixing the digital asset manager's proposal to convert bitcoin trust into a spot bitcoin exchange traded fund. Grayscale bitcoin fund, which has $10.7 billion worth of bitcoin under management, has slumped about 75% in the past 12 months. Grayscale Ethereum Trust, which has $3.8 billion assets under management, shed 81% in the past year. By comparison, bitcoin, which was down 2% at $16,505 on Wednesday, has slumped 72% in the past year. (Reporting by Medha Singh and Lisa Pauline Mattackal in Bengaluru) View comments || Nobel laureate Paul Krugman calls for a crypto crackdown after the FTX fiasco - and warns regulation could wipe out the industry: • Plunging prices and collapsing companies show crypto needs to be regulated, Paul Krugman says.
• The Nobel Prize-winning economist warned stricter rules could spell the end of the crypto industry.
• Krugman suggested traditional banks could dominate the crypto space if regulators crack down.
The cryptocurrency sector is reeling from a dramatic crash in coin prices and the domino-like collapse of several key players. The industry's troubles show it has to be reined in, but stricter rules could mean it ceases to exist, Paul Krugman has said.
"Recent events have made clear the need to regulate crypto," he said. "But it also seems likely that the industry couldn't survive regulation."
The Nobel Prize-winning economist and retired Princeton professor issued the grim outlook in aNew York Times columntitled "Is This the End Game for Crypto?" this week. He published it days after the implosion of Sam Bankman-Fried's FTX exchange, which sparked a crypto sell-off and fanned fears that its peers could fold too.
Krugman underlined the vast scale of crypto losses over the past year. Bitcoin, the most popular coin, has plunged in value from over $68,000 to below $17,000. That fueled a roughly 70% plunge in the crypto sector's market capitalization, from over $3 trillion to below $850 billion.
The veteran economist also took aim at crypto exchanges and lenders, which are facing mounting financial and regulatory pressures. He questioned why they even exist, when bitcoin was conceived as a peer-to-peer digital-payments system that removed the need for financial intermediaries.
He pointed out that both crypto firms and traditional banks rely on people trusting them with their money. However, conventional financial institutions are regulated by the US government, which oversees their behavior, controls the risks they take, and insures their customers' deposits. Crypto investors don't enjoy the same protections, he noted.
As a result, Krugman warned that crypto exchanges and their ilk could become obsolete if regulators crack down on the industry, in part because they wouldn't be allowed to offer pie-in-the-sky returns to draw in customers.
"It's hard to see what advantage these firms would have over ordinary banks," he said. "Even if the value of bitcoin doesn't go to zero (which it still might), there's a strong case that the crypto industry, which loomed so large just a few months ago, is headed for oblivion."
Krugman has been a scathing critic of crypto for at least a decade. He hasblastedthe digital tokens as pointless, wasteful, virtually worthless, and mostly a tool for criminals and Ponzi schemers.
Read more:If you lost money on FTX, 'there's a good chance of getting something back' says a 15-year IRS lawyer, who explains what customers should do immediately as bankruptcy proceedings unfold
Read the original article onBusiness Insider || 7 Top Tech Stocks to Buy for the Coming Bull Market: As the market continues to show signs of life, there’s an opportunity to seek out tech stocks to buy.
This year conventional wisdom swung from believing the world was going to take a huge hit to believing that nearly all stocks were wonderful.
Then, around the middle of this year, the Street was sure that the Fed was going to destroy almost every growth company in a relentless push to reach its 2% inflation target. And now the conventional wisdom is that the economy will go into a tailspin.
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The good news is that soon the doom-and-gloom thinking will finally come to an end, and we’ll enter a much more conventional “stock pickers’ market” that will slowly melt upwards. As a result, investors should be thinking about the best tech stocks to buy when this upward march begins.
In my opinion, the fears of spiraling inflation and the “smash everything to pieces” Fed have almost ended. Now the Street is consumed by worries about a ruinous recession. The with government and manufacturers prepared to unleash a great deal of stimulus next year, the American economy is unlikely to nosedive.
Having said all that, here are seven top tech stocks to buy for the coming bull market.
[{"AMZN": "XPEV", "Amazon": "Xpeng", "$88.48": "$10.82"}, {"AMZN": "CPNG", "Amazon": "Coupang", "$88.48": "$18.16"}, {"AMZN": "BB", "Amazon": "BlackBerry", "$88.48": "$4.43"}, {"AMZN": "NXPI", "Amazon": "NXP Semiconductors", "$88.48": "$163.47"}, {"AMZN": "NOW", "Amazon": "ServiceNow", "$88.48": "$388.40"}, {"AMZN": "PYPL", "Amazon": "PayPal", "$88.48": "$74.46"}]
Source: Tada Images / Shutterstock.com
Amazon(NASDAQ:AMZN), the world’s-e-commerce and cloud leader, is easily one of the tech stocks to buy.
On the e-commerce front, the numbers so far this holiday shopping season are defying predictions of a collapse of consumer spending.
Specifically, online spending on Black Fridayclimbed 2.3%year-over-year in the U.S. to a “record” $9.2 billion, while “The National Retail Federation expectsholiday sales includingonline sales to be up 6%-8% this year to $942.6 billion. ”
The numbers suggest that the ratio between goods and services spending is starting to normalize. Such a transition, of course, will be very positive for Amazon stock.
Source: Koshiro K / Shutterstock
Since Chinese electric-vehicle makerXpeng(NYSE:XPEV) reported its third-quarter results, the company’s shares have soared 53% (3.66/6.9), making it one of the top tech stocks to buy in th sector.
First, Xpeng CEOHe Xiaopengnotedduring the company earnings call thatits G9 SUV had become the initial vehicle in China to launch ” autonomous driving tests on…public roads.” And He added that Xpeng intends to be the initial EV maker in the country to provide self-driving capabilities in “cost effective mass-produced vehicles”
Xpeng’s margins actuallyimproved in Q3 versusthe previous quarter, the automaker’s cash flow looks poised to climb going forward, it unveiled a new cost-cutting initiative in conjunction with its Q3 results, and it should be a prime beneficiary of the easing of China’s anti-coronavirus measures.
Source: Michael Vi / Shutterstock.com
South Korea-based e-commerce giantCoupang(NYSE:CPNG) appears to be hitting its stride, as it’s growing rapidly and recently reported profitable third-quarter results which featured its highest bottom line ever. Moreover, the valuation of CPNG stock is very attractive.
The company attributesits success to its strong, proprietarytechnology, its extensive logistics network and its prioritization of improving its offerings. According to Coupang CEO Bom Kim, the e-commerce giantcan deliver millions of orders before7 AM that it receives as late as midnight and can accept returned items without boxes or labels.
With CPNG expanding to other Asian countries, the company has tremendous growth opportunities.
Despite all of the company’s strengths, itsshares have a low,trailing price-sales ratio of just 1.55.
Source: Shutterstock
BlackBerry(NYSE:BB) looks poised to get a big boost from a provisionthat is being included inthe proposed National Defense Authorization Act, which is viewed as “must-pass” legislation.
Under the provision, government agencies will be allowed to, without any outside approvals, finalize contracts with cybersecurity vendors that have the FedRAMP certification. BlackBerryhas theFedRAMP certification and already has deals with many U.S. government agencies. The provision is likely to enable the company to greatly accelerate the amount of revenue that it generates from the federal government.
Meanwhile, on the QNX front, the value of BB’s design wins in the first two quarters of its current fiscal year had been higher than any previous full year. Moreover, BB should benefit meaningfully as auto supply chains recover and connected cars proliferate further.
So the medium-term and long-term outlook of BB is quite strong.
Source: Lukassek / Shutterstock.com
NXP Semiconductors(NASDAQ:NXPI) has caught the market’s attention with its low valuation, its relatively high leverage to the auto and industrial market, and its relatively low reliance on consumer-end markets.
In the last few weeks, it appears that more analysts and pundits have realized the virtue of NXPI stock.
Well Fargoanalyst Gary Mobleynoted that chip makerswho rely more on auto and industrial end markets appear to be resilient. And the analyst thinks that investors’ sentiment towards the entire space could improve in the first half of next year.
Mobley identified NXPI as having strong prospects because it obtains “an “outsized portion” of its sales from automakers.
NXP’s forward price-earnings ratio of 12.9 is very attractive, while it has a significant dividend yield of 2.1%.
Source: Sundry Photography / Shutterstock.com
ServiceNow(NYSE:NOW), whose cloud software automates multiple IT functions, reported very strong third-quarter results and received extremely high praise from a Wall Street analyst.
In a note to investors issued on Oct. 27, in the wake of NOW’s Q3 results,Wolfe Researchwrote thatthe company had“reclaimed the title of ‘safest SaaS asset to own into year-end.” The firm maintained an “outperform” rating on the shares.
Given NOW’s strong growth, the stock’s forwardprice-earnings ratio of43 is attractive.
Digital payments platformPayPal(NASDAQ:PYPL) reported strong Q3 results, appears to be gaining market share in the U.S., and has a very attractive valuation.
Like AMZN, PayPal should get a big boost from the normalization of the ratio between consumers’ spending on goods and their spending on services.
According to investment bankWedbush, on Black Friday this year, PayPal’s servicesobtained acombined 35% share of online purchases in the U.S., meaningfully up from the 31% that it garnered on Black Friday in 2021.
On the date of publication, Larry Ramer held long positions in XPEV and BB. The opinions expressed in this article are those of the writer, subject to theInvestorPlace.comPublishing Guidelines.
Larry Ramer has conducted research and written articles on U.S. stocks for 15 years. He has been employed by The Fly and Israel’s largest business newspaper, Globes. Larry began writing columns for InvestorPlace in 2015. Among his highly successful, contrarian picks have been PLUG, XOM and solar stocks. You can reach him on Stocktwits at @larryramer.
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[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 17133.15, 17128.72, 17104.19, 17206.44, 17781.32, 17815.65, 17364.87, 16647.48, 16795.09, 16757.98
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Facebook & 4 Stocks in Focus as Online Payment Gains Traction: Facebook, Inc. FB is seeking regulatory approval to launch mobile payment services in Indonesia. The social media giant is reportedly working with three local digital fintech firms and plans to launch payments services in Indonesia at the earliest.
Payments services have gained immense popularity over the past few months, following the coronavirus outbreak. Contactless payment services is gaining steam as an increasing number of people are staying at homes and maintaining social distancing, which has seen a decline in transaction through currency notes.
Facebook to Expand Payments Service
If the plan gets regulatory approval, it could become one of the first payments service under the unified service Facebook Pay. According to a Reuters report, Facebook is initiating talks to partner with three local companies — ride hailing firm Gojek’s GoPay, fintech startup OVO, which is backed by Singapore-based riding hailing company Grab, and state-backed LinkAja.
Facebook launched its contactless payments service Facebook Pay in November 2019. The service allows users to make payments across multiple platforms including WhatsApp and Instagram without exiting the app. Facebook is trying to tap the fast-growing Indonesian market and has been in talks with these firms since last year.
Payment services are gaining popularity, with a number of big tech companies treading the same path. According to a Facebook spokesperson, the company plans to expand its digital payments platform to more countries, as there is tremendous growth potential for the business.
Contactless Payments Grow on Users’ Trust
Increasing use of Internet and smartphones to make payments along with online banking transactions via mobile wallets are working in favor of payment apps. Also, payment of utility and telephone bills through online payments apps is gaining popularity.
Moreover, the past couple of months have witnessed a surge in users of payments services following the COVID-19 outbreak. Governments are imposing travel bans and implementing stricter social distancing measures. This has seen more people shying away from physical transactions through currency notes. Instead, contactless payments are being preferred.
This has resulted in big tech companies like Apple, Inc. AAPL, Amazon.com, Inc. AMZN and Paypal Holdings, Inc. PYPL increasingly shifting focus to payments services. However, reliance on payment apps also depends on the trust factor and credibility, which are assured when services are provided by big tech companies.
Facebook Pay allows users to view payment history and manage payment methods. It also provides real-time customer support via live chat. Facebook has a Zacks Rank #3 (Hold). The company’s shares have gained 19% in the past one month.
Square, Inc. SQ with its user-friendly interface is fast becoming a hit. Its peer-to-peer payments service Square Cash App allows users to send or receive money immediately. The funds can then be transferred to a bank account instantly. Square Cash App has also added features that allow users to invest their funds in the stock market and Bitcoin, giving them the power to diversify their digital dollars.
PayPal’s mobile payment subsidiary Venmo allows instant money transfer among family and friends. Similar to PayPal, funds can be transferred immediately via Venmo to a connected bank account (with a 1% fee per transfer up to $10) or in 1-3 business days. Square and PayPal, each carrying a Zacks Rank #3, have seen their stocks surge 60.3% and 29.9%, respectively, over the past 30 days. You can seethe complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Apple’s digital wallet, Apple Pay, is one of the most popular digital payment wallets, with more than 6,000 users. One of the major positives of this app is that it can be easily synchronized with Apple Watch. Apple Pay’s biggest strength lies in its user data privacy policy, which has made it one of the most trustworthy mobile wallets. Apple carries a Zacks Rank #3. The iPhone maker’s shares have increased 20.8% over the past 30 days.
Amazon’s payments processing service Amazon Pay has a large user base which is continuing to grow. The app enables users to make payments, do online shopping, pay bills, book flight and event tickets. Amazon has a Zacks Rank #3. Its shares have gained 29.7% in the past one month.
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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportAmazon.com, Inc. (AMZN) : Free Stock Analysis ReportApple Inc. (AAPL) : Free Stock Analysis ReportFacebook, Inc. (FB) : Free Stock Analysis ReportPayPal Holdings, Inc. (PYPL) : Free Stock Analysis ReportSquare, Inc. (SQ) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research || More Profit-Taking? Bitcoin Price Sags 7% Ahead of Easter Weekend: Major cryptocurrency markets fell 7 percent over the past 24 hours, with bitcoin (BTC) retreating below $7,000. While traditional stocks saw modest gains during early trading hours Friday, the crypto market shed more than $13 billion over the past 24 hours, according to Nomics. Most large-cap cryptos fell more than 8 percent in that time period, with BTC’s 6.8 percent dip being the only exception. The sell-off appears to have begun early UTC Friday. Related: Crypto Long & Short: DeFi and Traditional Finance Are Forming an Unlikely Friendship According to CoinDesk’s Bitcoin Price Index , the world’s oldest cryptocurrency fell from about $7,300 at 01:00 UTC Friday to just above $6,800 as of press time, losing nearly $500 over 14 hours. “Given some of the abruptness of the overnight move, it suggests that some larger holders were inclined to take profits at these relatively favorable prices,” David Nuelle, managing director of Hehmeyer Trading + Investments, told CoinDesk. “Other than that, I don’t see anything that would precipitate the market move.” Still, Nuelle called bitcoin’s recovery from mid-March lows of roughly $4,100 “pretty impressive.” “With other markets closed and it being a U.S. holiday, the crypto markets are generally feeling less liquid,” CMS Holdings Partner Bobby Cho told CoinDesk. “I don’t see this being an issue with crypto fundamentals, rather, short-term market liquidity issues.” Related: Bitcoin Vaults: Developer Bryan Bishop Releases Prototype for Secure On-Chain Storage Bitcoin cash (BCH) and bit c oin SV (BSV) lost the greatest portion of their value among the top 25 cryptos, falling 11 percent and 13.5 percent, respectively. However, both coins saw their respective halvings occur this week , which may have contributed to the price decline. In contrast to the crypto markets, traditional stock markets capped largely positive weeks. Both the S&P 500 and the Dow Jones Industrial Index saw major gains in the last four days of trading (markets were closed Friday for the Easter holiday), despite the economic hit caused by record job losses. Story continues The U.S. saw 10 percent of its workforce laid off over a three-week period as a result of the ongoing COVID-19 outbreak . Jobless claims grew 6.6 million on Thursday, for a total of 16 million, according to CNBC. Economies worldwide are bracing for an economic shock due to the pandemic. Germany and France are already seeing their economies slide into a recession , the New York Times reported Thursday. Zack Seward contributed reporting. Related Stories Bitcoin Ends Four-Week Winning Run With Drop Into Bear Territory First Mover: Bitcoin’s Market Cap Eclipses Citigroup’s as Yellen Calls for Big-Bank Dividend Cuts || Starting a Bitcoin Startup During the COVID-19 Crisis, Feat. Yan Pritzker: With companies closing, unemployment rising and investors spooked in the age of the pandemic, NLW speaks with Swan BTC co-founder Yan Pritzker about the experience of launching a startup in the hyper-competitive world of Bitcoin. 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 . Yan Pritzker is the CTO and cofounder of Swan Bitcoin, an automated bitcoin-only investing app aiming to be the best on-ramp to bitcoin . He is also the author of “Inventing Bitcoin.” Related: Bitcoin News Roundup for April 27, 2020 On this episode, he and NLW discuss: How emigrating from the Soviet Union taught Yan about capital controls Buying bitcoin at $30 in 2011 Why the type of capital available shapes what type of startups entrepreneurs found Why venture capitals focused investments away from bitcoin The emergence of a bitcoin-only startup scene Starting a startup during the COVID-19 crisis Why bitcoin’s scarcity is its most important property See also: Bram Cohen: ‘Getting Rich Is a Terrible Metric of Success’ 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 CoinDesk Live: 2019’s Most Catastrophic Crypto Caper Lightning Network Messaging, Political Expediency and What Crisis Has Revealed Bitcoin Halving 2020: The ‘Arms Race’ for Miner Efficiency Intensifies || First Mover: Bitcoin’s Market Cap Eclipses Citigroup’s as Yellen Calls for Big-Bank Dividend Cuts: Bitcoin’s(BTC) price drop since Friday has pushed the oldest and largest cryptocurrency back into the red for 2020.
But guess what bitcoin is still beating? Big U.S. bank stocks, which are suffering as coronavirus-related business disruptions, household lockdowns and rising unemployment eviscerate the economy, pushing up loan losses.
You’re readingFirst Mover, CoinDesk’s daily markets newsletter. Assembled by the CoinDesk Markets Team, First Mover starts your day with the most up-to-date sentiment around crypto markets, which of course never close, putting in context every wild swing in bitcoin and more. We follow the money so you don’t have to. You cansubscribe here.
Related:First Mover: Bitcoin Market Goes Into ‘Backwardation’ Despite Fed’s Trillions
JPMorgan, the biggest U.S. bank, is down 26 percent this year, while Bank of America has fallen 29 percent, Wells Fargo has tumbled 38 percent and Citigroup has plunged 40 percent.
Bitcoin is down a comparatively paltry 6.4 percent on the year.
With governments and central banks around the world pledging trillions of dollars of emergency aid packages and money injections, bitcoin has garnered heightened investor attention lately as a potential hedge against inflation, a digital form of gold. The Federal Reserve’s balance sheet last weeksurged past $6 trillionfor the first time in its 107-year history.
Yet, when bitcoin was envisioned in a 2008 white paper by the pseudonymous Satoshi Nakamoto, the original intended purpose was as apeer-to-peer electronic payment systemthat could bypass financial institutions.
Related:Bitcoin Stuck Below $7K Even as Gold Surges to 7-Year High
And it’s that original use case that prompted TradeBlock, a cryptocurrency research firm, to take a look last week at how the cryptocurrency is performing versus bank stocks. The topic could come under heightened focus this week as JPMorgan reportsearnings for the first quarter.
“Interestingly, while market prices of the large banks and even payment processors saw a lack of investor confidence during the past several weeks, investor confidence in bitcoin has fared surprisingly well,” John Todaro, director of currency research at the crypto-focused firm TradeBlock, wrote in an email.
In fact, Citigroup’s share price has been hit so hard its market capitalization has shrunk to about $100 billion, according to FactSet – well below the $122.8 billion outstanding market value of bitcoin. If the trend continues, bitcoin could next overtake Wells Fargo, whose market value currently sits at $135 billion.
Bitcoin’s market value is still less than half of JPMorgan’s, which is around $313 billion.
In a report last week, CoinDesk Research noted developers areactively working on technologiesthat would improve bitcoin’s usefulness as a payment system. And that’s to say little of the fast-growing arena of decentralized finance, or DeFi, which aims squarely at displacing big banks and so far has largely been built around Ethereum, the second-biggest blockchain network after Bitcoin.
Just as they were in the 2008 crisis, banks are big beneficiaries of the Federal Reserve’s new emergency lending programs.
As of April 8, banks were borrowing some$43.5 billion from the central bank’s so-called discount window,which is usually reserved for emergencies. (The Fed in late March encouraged banks to use it as a way of trying to assure coronavirus-roiled markets had plenty of liquidity.) Wall Street dealers had pulled down another $33 billion, money-market mutual funds were backstopped by $54 billion and collateralized loans known as “repurchase agreements” totaled some $227.6 billion.
Bitcoin, which saw a big sell-off in March along with just about everything else as investors sought safety in U.S. dollars, may have benefited from the stabilization in markets that followed the Fed’s aggressive response.
But the banks’ year-to-date stock returns reveal just how worried shareholders remain.
According to a Morgan Stanley report last week, cash-strapped companies have been drawing down credit lines at a record pace, with a total of $223 billion drawn so far in 2020. There’s a big risk some of those loans could go bad if the economy sours further.
There are also concerns banks might face losses stemming from the past decade’s explosion in corporate debt, especially “leveraged loans” made to companies with junk-grade credit ratings. Many of those loans were packaged into bonds known ascollateralized loan obligations, sponsored by non-bank financial firms such as Blackstone. But Fitch, the credit-rating firm, has warned some of those losses could reverberate back onto banks.
“Overall, credit risk is rising as the global economy slows, and leveraged lending is a key concern given the higher risk associated with the loans,” wrote Brian Kleinhanzl, a bank analyst at the brokerage firm KBW.
So far the biggest U.S. banks have managed to keep paying dividends, but former Fed Chair Janet Yellen said last week regulators should ask banks to consider suspending the shareholder payouts – to preserve capital that could be used to support additional lending. Such a move also would help to avoid a repeat of the 2008 crisis, when losses grew so steep the big banks had to get emergency capital injections (bailouts) from the U.S. Treasury Department. Citigroup and Bank of America each needed $45 billion.
Citigroup’s stock-price plunge has been so swift the New York-based bank’s dividend now equates to a yield above 4 percent, a level not seen since 2009.
JPMorgan CEO Jamie Dimon, who in 2017 called bitcoin a “fraud” before saying the following year heregretted the comment, wrote last week in hisannual letter to shareholdersthat his board of directors “would likely consider suspending the dividend” if an “extremely adverse” economic scenario came to pass. That was defined as a situation where gross domestic product, or GDP, tumbled by 35 percent in the second quarter, with U.S. unemployment surging to 14 percent later in the year.
Dimon published his letter just days before JPMorgan’s own economists predicted in a report that GDP would fall at a rate of 40 percent in the second quarter, and that the unemployment rate would jump to 20 percent:
If investors haven’t already written off big-bank dividends, a wave of suspensions could push the stocks lower.
That could widen the performance gap with bitcoin, which doesn’t have a dividend to cut.
Trend: Bitcoin fell to 13-day low of $6,600 early on Monday, having fallen out of a rising wedge pattern three days ago,as notedby macro economist Henrik Zeberg.
The converging nature of the trendlines forming the wedge pattern indicates bull fatigue. Hence, a breakdown is considered confirmation of a bullish-to-bearish trend change.
An asset usually ends up erasing a major chunk of a recent rally following a wedge breakdown. Hence, Zeberg expects bitcoin to drop to levels below $5,000 and suggests the breakdown in the top cryptocurrency could be an advance warning of another liquidity crisis in the global markets.
Global equities took a beating in March amid a scare over the economic affects of the coronavirus pandemic, triggering a global dash for U.S. dollar cash, which saw investors sell everything from gold to U.S. Treasurys.
S&P 500 futures are signaling risk aversion at press time with a 1.2 percent decline. The drop comes as the number of coronavirus cases in China and Singapore surged over the weekend. However, European markets are closed Monday, an Easter bank holiday. It remains to be seen if investors resume liquidating assets for USD during the week ahead.
From a technical perspective, bitcoin is now operating in bearish territory and only a daily (UTC) close above the 50-day average at $7,145 would neutralize the outlook.
First Moveris CoinDesk’s daily markets newsletter. You cansubscribe here.
• Bitcoin Drops as Traders See Bearish Signals in Futures Markets
• Blockchain Bites: ‘Immunity Passports,’ a Darknet Pharmacist and How Bitcoin Miners Prepare for the Halving || 3 Stocks to Make the Most of Bitcoin Halving: A major technical event known as bitcoin “halving” or “halvening” has arrived in the cryptocurrency market. Bitcoin is a decentralized cryptocurrency, governed by code and supported by a technology known as blockchain.
Miners in the world of bitcoin generally compete with each other with the help of specialized computers to solve complicated mathematical problems to validate bitcoin transactions. Whichever miner wins the competition receives newly-minted bitcoin. And all such mining activities happen in blocks, which is primarily a group of transactions fused into one.
Now, these miners generally receive 12.5 bitcoin per block mined. But that was almost half of 25 bitcoins in 2012. What’s more, halving of bitcoin is expected to happen on May 12, and the reward per miner will be trimmed to 6.25 new bitcoin or approximately $55,000 at the current bitcoin price.
But will the halving boost the price of bitcoin? Since bitcoin halving tightens its supply, it creates a level of scarcity that propels its prices. If we go back to the 2012 halving, bitcoin prices picked up pace in the months that follow, with price of bitcoin surging from $2 to $1,031 a year later, highlighting a whopping 51,000% jump. Similarly, at the time of 2016 halving, bitcoin prices climbed from $650 to $2,518 a year later.
By the way, bitcoin has done fairly well amid the coronavirus crisis. Since Mar 16, bitcoin has soared 84%, while the broader S&P 500 is only up 24%. On a year-to-date basis, bitcoin is up 22%.
Bitcoin’s price has gone up as it acts as a hedge against any economic slowdown. Needless to say, the coronavirus outbreak has weighed on corporate profits and hampered economic growth, with many expecting a recession in the near term. The virus is infecting thousands of people worldwide, disrupting supply chains and retraining movement between countries. Governments across the globe are struggling to control this health crisis and resorting to lockdowns to check the spread of the virus.
To top it, several Wall Street bigwigs are showing keen interest in cryptocurrencies and blockchain technology. And this bullish approach toward bitcoin is surely driving digital assets. For instance, JPMorgan Chase & Co. JPM has introduced JPM Coin, which will be helpful in handling digital settlements.
3 Stocks to Gain From the Bitcoin Run
If you are looking to tap the rising bitcoin trend, you may take a look at the following companies that are making use of bitcoin and technologies that support it, including blockchain.
Microsoft CorporationMSFT, incidentally, is facing stiff competition from Amazon.com, Inc. AMZN in the cloud computing space. As a result, the tech behemoth has launched a fully-managed blockchain service, integrated with Azure Active Directory.
Microsoft's fiscal third-quarter results benefited from momentum in Azure, impressive Teams user growth led by coronavirus-induced work-from-home wave and uptick in Surface devices.
The company, currently, has a Zacks Rank #2 (Buy). The company’s expected earnings growth rate for the current and next year is 19.8% and 9.1%, respectively. You can seethe complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
PayPal Holdings, Inc. PYPL, a leader in digital payment processes, sealed a deal with three major bitcoin payment processors, BitPay, GoCoin and Coinbase, to help PayPal merchants accept bitcoin as a mode of payment.
PayPal’s first-quarter results were driven by robust growth in total payments volume owing to increasing net new active accounts. Moreover, customer engagement on the company’s platform has strengthened.
The company, currently, has a Zacks Rank #3 (Hold). The company’s expected earnings growth rate for the current and next year is 7.1% and 22%, respectively.
International Business Machines CorporationIBM has been one of the early providers of the blockchain technology. Broad-based availability of the IBM Blockchain World Wire — a blockchain-driven global payments network — have been driving the company’s performance in the past.
Expanding product portfolio, accretive acquisitions, strong free cash flow generating ability and aggressive share buyback are some of the positives.
The company, currently, has a Zacks Rank #3. The company’s expected earnings growth rate for the next quarter and year is 2.6% and 7.5%, respectively.
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Click to get this free reportJPMorgan Chase Co (JPM) : Free Stock Analysis ReportMicrosoft Corporation (MSFT) : Free Stock Analysis ReportInternational Business Machines Corporation (IBM) : Free Stock Analysis ReportAmazoncom Inc (AMZN) : Free Stock Analysis ReportPayPal Holdings Inc (PYPL) : Free Stock Analysis ReportTo read this article on Zacks.com click here. || Off the Chain Capital to Host Webinar 4pm EST Tuesday, May 26 – Turbulent Times: Why Add Bitcoin to Your Portfolio Now: IPO Edge , in partnership with Off the Chain Capital, LLC , a digital currency & blockchain asset investment manager and The Palm Beach Hedge Fund Association , a Florida trade association for financial professionals, will host a Webinar on Tuesday, May 26 at 4pm EST – Turbulent Times: Why Add Bitcoin to Your Portfolio Now . CLICK HERE TO REGISTER The Webinar will feature Brian Estes, Chief Investment Officer and Managing Partner at Off the Chain Capital, LLC, which employs a value-based approach to cryptocurrency inspired by the works of Graham and Dodd. Bitcoin has come into the spotlight recently as central banks around the world adopt zero interest rate policies and investors including Paul Tudor Jones have taken significant positions in the cryptocurrency. Whether as a substitute for fiat currencies such as the U.S dollar or a hedge against inflation, bitcoin has drawn Wall Street’s attention as investors navigate the latest financial crisis. Cryptocurrencies may also disrupt legacy technology companies like Amazon.com, Inc., Facebook, Inc., Paypal Holdings, Inc., and Apple Inc. Decentralized platforms built on blockchain technology using cryptocurrency for native tokens on the internet pose a challenge such tech giants. Mr. Estes will discuss: Why does bitcoin have value? What is the bitcoin halving and why is it important? Today’s global debt crisis and how it will benefit bitcoin Why add bitcoin to a diversified investment portfolio Models used to determine bitcoin’s value Brian Estes is the CIO and Managing Partner at Off the Chain Capital; he is also invested in the General Partner at Polychain . Brian helped finance, build, and mentor 4 blockchain companies whose combined value is over $10B today. Prior to his involvement in blockchain in 2014, Brian was a leading endowment and foundation asset manager who was ranked in the top 1/10th of 1% of Morningstar asset managers between 2004 -2014. Brian has his BA from the University of Illinois and MBA with high honors from Washington University. Brian also studied at Cambridge University and the London School of Economics. For fun, Brian has been an instrument-rated private pilot for 30 years and has over 2100 flight hours in his single-engine Cessna Cardinal. Story continues Note: This Webinar is intended for informational purposes only and not to solicit any specific investment. Contact: John Jannarone, Editor-in-Chief [email protected] www.IPO-Edge.com [email protected] Twitter: @IPOEdge Instagram: @IPOEdge || Market Wrap: Bitcoin Price Volatility Declines in Contrast to S&P 500: You know things are weird when bitcoin is getting less volatile and stocks aren’t.
After surging about a month ago during a frantic sell-off, the 30-day volatility of daily returns from the leading cryptocurrency has dropped in recent days, and is almost back to where it was before the panic started in early March.
Meanwhile, the volatility of the S&P 500 index of large U.S. stocks, which also skyrocketed in March as the coronavirus paralyzed the world’s economies, has plateaued.
Related:Open Interest in CME Bitcoin Futures Rises 70% as Institutions Return to Market
What’s causing the S&P to continue its volatility run while even bitcoin is returning to its version of normal? The mixed performance of various stocks within the bellwether index is part of a problem.
“The interesting game now is not S&P 500, but some of the top stocks inside. Just check Tesla and Amazon, they are moving much better than S&P on average,” said Maksim Balashevich CEO of Santiment, a firm that analyzes market data.
To be clear, over the long term bitcoin remains the more volatile investment by a wide margin. And risk assets of all stripes remain subject to wilder swings than usual.
Read more:Chainlink’s Link Token Outperforms Bitcoin as Business Wins Fuel Hype Cycle
Related:First Mover: Coronavirus Trillions Get Bitcoiners Wondering if Halving Still Matters
“Investors are generally looking for stability and volatile assets will be sold no matter what they are,” said Denis Vinokourov, head of research at crypto investment brokerage Bequant, regarding the S&P 500’s fraught performance.
Balashevich noted that an index like the S&P 500 doesn’t account for the divergent fortunes of different sectors in a pandemic, where leisure stocks perform badly but online retailers make gains. Crypto beats such a blunt instrument in this environment, he argued.
“I would bet for BTC and ETH,” he said. The S&P 500 will keep struggling as the economy is in a split.”
Prices forbitcoin(BTC) slipped 1 percent in 24 hour trading Wednesday, according to CoinDesk’s Bitcoin Price Index.
Trading for the world’s oldest cryptocurrency has dipped below its 50-day moving average on spot exchanges like Coinbase. The price for 1 BTC has been attempting to break back above its 10-day moving average but has been stuck in the $6,700 range for the past eight hours of trading as of 21:00 UTC (5:00 p.m. EDT) April 15.
Recent data suggest thatmany investors are holding onto bitcoinrather than participating as active sellers in the market. Over-the-counter (OTC) trading activity can be an indicator of this as well.
“I do get much less sellers contacting me now, so a jump to maybe $7,500 or $8,000 would give a push to the OTC market in bitcoin,” said Henrik Kugelberg,” a Sweden-based crypto OTC trader.
An influx of stablecoin activity could provide a boost, as often issuance in that market translates into purchases of free-floating assets such as bitcoin and ether, creating price bumps.
Other analysts see pessimistic signals amid a return to calmer markets since March’s steep dip in prices to below $4,000 at one point.
“Starting to feel a bit more bearish given we failed around the $7,200 level, likely to test $6,500 in the next day or so,” said Chris Thomas, head of digital assets at Swissquote Bank.
“If it fails we’ll likely squeeze lower off the back of Asian volumes, which I think people will use as an opportunity to get into the market,” he added. The Nikkei 225 stock index, an indicator for Asia, fell by less than a percent Wednesday, its first time in the red this week asmajor gains in transportation offset selling in other sectors.
Most major digital assets are mixed on CoinDesk’s big board for the day.Ether(ETH) dipped less than 1 percent. Big losers includeiota(IOTA) in the red at 2.9 percent andlitecoin(LTC) losing 1.7 percent. One asset flashing green islisk(LSK) up 4 percent All price changes are from 21:15 UTC (5:15 p.m. EDT) Tuesday.
See also:More Investors Are Holding Bitcoin Ahead of the Halving, Data Suggests
Elsewhere, gold is sideways today, slipping less than 1 percent after a massive uptrend movement since April 9. Gold has beensoundly beating bitcoin’s performance this year,up double digit percentage points since the start of 2020 whereas bitcoin is down 5 percent on the year.
The FTSE 100 index ended Wednesday down 2.9 percent with weak oil demand is affecting companies like BP and Shellin the European markets.
The S&P 500 index of large U.S. stocks slipped 2.2 percent as the Federal Reserve’s beige book analysis of economic activitynoted sharp contractionWednesday.
Also notable is that U.S. Treasury bonds experienced selling Wednesday, with two-year, ten-year and thirty-year yields all down sharply. Most notable was 10-year Treasurys, in the red more than 15 percent on the day.
• Bitcoin Price Spikes Above $7.1K, Liquidating $23M on BitMEX
• Ethereum Now Matches Bitcoin on One Key Metric || Binance Doesnt Have a Headquarters Because Bitcoin Doesnt, Says CEO: Binance CEO Changpeng CZ Zhao really doesnt want to tell you where his firms headquarters is located. To kick off ConsenSys Ethereal Summit on Thursday, Unchained Podcast host Laura Shin held a cozy fireside chat with Zhao who, to mark the occasion, was wearing a personalized football shirt emblazoned with the Binance brand. Scheduled for 45 minutes, Zhao spent most of it explaining how libra and Chinas digital yuan were unlikely to be competitors to existing stablecoin providers; how Binances smart chain wouldnt tread on Ethereums toes that depends on the definition of competing, he said and how Binance had an incentive to keep its newly acquired CoinMarketCap independent from the exchange. Related: The CoinDesk 50: Binance Eyes the Whole Pie There were only five minutes left on the clock. Zhao was looking confident; he had just batted away a thorny question about an ongoing lawsuit. It was looking like the home stretch. Then it hit. Shin asked the one question Zhao really didnt want to have to answer, but many want to know: Where is Binances headquarters? This seemingly simple question is actually more complex. Until February, Binance was considered to be based in Malta. That changed when the island European nation announced that, no, Binance is not under its jurisdiction . Since then Binance has not said just where, exactly, it is now headquartered. Little wonder that when asked Zhao reddened; he stammered. He looked off-camera, possibly to an aide. Well, I think what this is is the beauty of the blockchain, right, so you dont have to
like wheres the Bitcoin office, because Bitcoin doesnt have an office, he said. Related: Crypto Firms Establish Messaging Standard to Deal With FATF Travel Rule The line trailed off, then inspiration hit. What kind of horse is a car? Zhao asked. Binance has loads of offices, he continued, with staff in 50 countries. It was a new type of organization that doesnt need registered bank accounts and postal addresses. Story continues Wherever I sit, is going to be the Binance office. Wherever I need somebody, is going to be the Binance office, he said. See also: Binance Is Not Under Our Jurisdiction, Says Malta Regulator Zhao may have been hoping the host would move onto something easier. But Shin wasnt finished: But even to do things like to handle, you know, taxes for your employees, like, I think you need a registered business entity, so like why are you obfuscating it, why not just be open about it like, you know, the headquarters is registered in this place, why not just say that? Zhao glanced away again, possibly at the person behind the camera. Their program had less than two minutes remaining. Its not that we dont want to admit it, its not that we want to obfuscate it or we want to kind of hide it. Were not hiding, were in the open, he said. Shin interjected: What are you saying that youre already some kind of DAO [decentralized autonomous organization]? I mean what are you saying? Because its not the old way [having a headquarters], its actually the current way
I actually dont know what you are or what youre claiming to be. Zhao said Binance isnt a traditional company, more a large team of people that works together for a common goal. He added: To be honest, if we classified as a DAO, then theres going to be a lot of debate about why were not a DAO. So I dont want to go there, either. I mean nobody would call you guys a DAO, Shin said, likely disappointed that this wasnt the interview where Zhao made his big reveal. See also: Binance CEO Says Crypto Exchange Has Applied for a Singapore License Time was up. For an easy question to close, Shin asked where Zhao was working from during the coronavirus pandemic. Im in Asia, Zhao said. The blank white wall behind him didnt provide any clues about where in Asia he might be. Shin asked if he could say which country after all, its the Earths largest continent . I prefer not to disclose that. I think thats my own privacy, he cut in, ending the interview. Related Stories First Mover: US Arms of Binance, FTX Push Into Margin Trading, but Likely Not at 100x Why Binance and Akon Are Betting on Africa for Crypto Adoption || Public Opinion Shifts on Big Tech and Privacy During Pandemic: Recent polling finds the COVID-19 pandemic has softened the backlash against big tech firms. A majority of Americans now support tech firms being involved in tracing COVID-19, for example. The recent round of polling is a turnaround from 2019. In 2015, 71 percent of Americans said tech companies had a positive impact on the United States, with that number falling to only 50 percent by 2019, according to the Pew Research Center. Over those same years, negative views of tech went from the high teens to 33 percent. But during the pandemic tech companies are stepping into a new field — public health. Google and Apple have announced an initiative to support contact tracing through Bluetooth technology, which tracks when people come in contact with an infected person. MIT researchers have developed an app to serve a similar purpose, and other tech companies are lending their support to help combat COVID-19 in a variety of ways. Related: Lightning Network Messaging, Political Expediency and What Crisis Has Revealed Taken together, the results from a number of different polls raise questions about a continued desire for products and services that focus on privacy and security, which were the beneficiaries of an estimated $124 billion in spending on this industry in 2019, according to Gartner estimates. A Kaiser Family Foundation tracking poll covering late April found 68 percent of Americans would now share their COVID-19 test results with officials using an app, though that dropped to 45 percent if the app tracks with whom they come into contact and sends them alerts if one of those people tests positive for coronavirus. Such measures are currently on the table in the U.S. and Europe. See also: For Contact Tracing to Work, Americans Will Have to Trust Google and Apple Even so, people have an improved view of tech companies generally during the pandemic. Related: US Authorities Freeze COVID-19 Website Alleged Scammer Tried to Sell for Bitcoin Thirty-eight percent of Americans say their view of the tech industry is more positive since the start of the outbreak, according to a Harris/Axios poll. Forty percent said the tech industry should be providing solutions, and an overwhelming 81 percent said they support large tech companies helping with contact tracing. The results are heartening for public health officials given that any contact tracing app in the U.S. would likely not be mandatory, and a recent study said any such app would need to be adopted by 60 percent of a population to be effective. The question is whether these positive feelings hold when the pandemic passes. To companies that have built their businesses around the notion of privacy as a commodity that’s here to stay, that seems unlikely. Previous distrust of big tech companies that came to a head as a result of data and privacy violations have expanded the Overton window , a publicly acceptable range of policy proposals, in such a way that makes privacy a fixture of our world, not a passing fad. Story continues The question is whether these positive feelings hold when the pandemic passes. Tor Bair, the Head of Growth at Enigma, a decentralized, open source protocol, said privacy and security will always be essential, even if user attitudes towards privacy fluctuate over time. “If big tech firms commit to defending the privacy and security of their users by default, then users will expect privacy as a universal value,” said Bair. “Anyone who then takes advantage of that trust will be punished by users, not to mention regulators. In this world, privacy technologies become an essential core of any product.” And while consumer views go back and forth when it comes to trusting Apple or Google, for example, there are still industrial clients such as oil or shipping companies that see the ability to share data privately and securely as a fundamentally part of their businesses, according to Duncan Greatwood, CEO of Xage Security. His company provides a decentralized platform for protecting the industrial internet of things, among other data security measures. “I think that a crisis like this does give people a bit of a pause and say, ‘Maybe privacy isn’t quite as important as I thought it was,’” said Greatwood. “But I do believe that once this crisis is past, people will care about their privacy. That’s certainly the case in the industrial world we operate in.” Looking beyond the pandemic, a National Research Group polling report published just days ago found two out of three Americans are excited about how technology can “accelerate positive trends on the other side of the curve.” Related Stories COVID-19 Tracing Apps Have to Go Viral to Work. That’s a Big Ask Bitcoin Messenger Explores Censorship Resistance During Coronavirus Crisis View comments || Latest Ripple price and analysis (XRP to USD): Ripple’s XRP token has remained in a bearish position over the weekend after facing a clear rejection from a crucial moving average. In spite of its impressive performance over the past six weeks, which has seen it recover by 64% , XRP has failed to break above the daily 200MA on four occasions over the past week. The 200MA has been an important point of support and during XRP’s historic price action, with it causing significant downtrends following rejections in September and December in 2018 as well as in April and November in 2019. A rejection from here would indicate a period of downside price action over the coming months, which will likely cause a retest of the March 16 low of $0.1265. At the time of writing XRP is trading at $0.2115 after falling by more than 10% from Thursday’s high of $0.2354. In order for a bullish reversal to come into fruition it desperately needs to break above the $0.2279 level of resistance, which is also in confluence with the stubborn daily 200MA. Failure to do so in the next few days will undeniably cause a move to the downside with an initial target emerging at $0.20. It’s also worth noting that XRP may follow the trajectory of Bitcoin, which will undergo its long-awaited block reward halving next week. This has historically been a catalyst for a cryptocurrency bull market with altcoins like XRP ultimately following Bitcoin’s lead. For more news, guides and cryptocurrency analysis, click here . 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 (XRP) Ripple is a real-time gross settlement system (RTGS) developed by the Ripple company. It is also referred to as the Ripple Transaction Protocol (RTXP) or Ripple protocol. It can trace its roots to 2004 when a web developer called Ryan Fugger had the idea to create a monetary system that was decentralised and could effectively allow individuals to create their own money. Story continues Ripple is one of the largest cryptocurrencies and is one of the top 10 cryptocurrencies by market capitalisation. More Ripple news and information If you want to find out more information about Ripple or cryptocurrencies in general, then use the search box at the top of this page. Here’s a recent article to get you started: https://coinrivet.com/ripple-ceo-brad-garlinghouse-hits-back-at-critics-xrp-is-not-a-security/ As with any investment, it pays to do some homework before you part with your money. The prices of cryptocurrencies are volatile and go up and down quickly. This page is not recommending a particular currency or whether you should invest or not.
[Random Sample of Social Media Buzz (last 60 days)]
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Trend: down || Prices: 10167.27, 9529.80, 9656.72, 9800.64, 9665.53, 9653.68, 9758.85, 9771.49, 9795.70, 9870.09
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
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[Random Sample of News (last 60 days)]
Thailand looks to amend crypto rules to facilitate growth: Thailands Securities and Exchange Commission (SEC), the countrys financial regulator, plans to amend cryptocurrency rules to boost the growth of digital assets. "The regulator must be flexible to apply the rules and regulations in line with the market environment," Ruenvadee Suwanmongkol, secretary-general of the SEC, told Bangkok Post on Monday, adding that Thailand aims to be competitive with the global market. Thailand initially adopted cryptocurrency rules in May 2018 via a royal decree , but the country hasnt seen many companies coming forward to get authorized and launch their operations yet. The decree covers four types of cryptocurrency businesses - exchanges, brokers, dealers and initial coin offering (ICO) or token portals. The first three are required to apply for licenses from the Finance Ministry, while ICO portals must be approved by the SEC. To date, five companies have been awarded digital asset exchange licenses - Bitkub Online, Satang Pro Corporation (both are operating), Bitcoin Co (decided to shut down in August), Bitherb.net and Huobi Thailand (yet to start operations). For digital asset brokers, Coin TH, Bitherb.net and Bitazza have been authorized, but the latter two are yet to commercially launch their services. While the approved ICO portals are Longroot Thailand, T-BOX Thailand Co and SE Digital Company. Ruenvadee said since many firms have yet to begin operations, we need to explore any possible obstacles to the decree and overcome them. || Latest Bitcoin Cash price and analysis (BCH to USD): At the time of writing, Bitcoin Cash (BCH) is trading at around $288. Last month, the popular altcoin was showing signs that it would drop further following huge losses at the end of September. However, BCH rebounded spectacularly towards the end of October in response to Bitcoin’s positive momentum. Overall, BCH hasn’t gained or lost any value since last week, but is down about 1% over the last 24 hours. Will BCH continue to push higher? And if so, what are the next levels to look out for? Let’s take a look at the chart for Bitcoin Cash. As you can see from the chart above, the price of BCH recovered during early September before crashing around 45% in the second half of the month. The gains of mid-September were lost and the price came crawling back down to below $230 in October as the huge market-wide meltdown hit the coin hard. At its lowest point over the past month, BCH touched $200 before recovering almost immediately. BCH then spiked from around $200 to $300 in the space of a few days, representing a 50% jump. Last week , I claimed it was probable that BCH would start seeing some positive momentum as the price was recording higher lows. At the time of writing, the market is patiently accumulating before making any moves. Bitcoin Cash is now trading above two of its three EMAs. At the moment, BCH is attempting to push past its 200-day EMA as well, which is the last line of bearish defense (if the volume profile to the left of the chart is to be believed). The next two resistance levels to watch out for are $300 and again near $400. If the market starts swinging more strongly to the upside over the next couple of weeks, some altcoins like BCH have a high chance of making gains since the coin has already lost close to 60% since July, when it was trading at above $500. For the time being, I expect BCH to attempt to break the $300 level and find support above its 200-day EMA. If fresh investment comes into the market over the following days, there’s a decent chance Bitcoin Cash will continue making higher lows while it accumulates to the upside. Story continues Right now, volume sits at just above $4 billion – around 235% higher than last month. Safe trades! BCH fundamentals I recently spoke with Bitcoin Cash’s strongest advocate, Roger Ver, and discussed the most recent developments on the horizon for BCH. You can find all the details here , but the most juicy news seems to be the recent spike in adoption due to the implementation of smart contracts. Roger, like myself, believes key components for mass adoption are speed and flexibility. What Bitcoin Cash Oracles offers is a way for any user to easily deploy an “escrow” transaction that can be used to trade globally – without the hassle of trusting the other party. I personally think these “trade escrows” will be key in terms of adoption, especially for work-related tasks. In a way, they do enable milestone-based funding, which may be the new and better way of conducting ICOs instead of simply creating an extra layer of complexity with STOs that require KYC and accreditation – something that goes against what we should be promoting within the crypto ecosystem. Current live BCH pricing information and interactive charts are available on our site 24 hours a day. The ticker bar at the bottom of every page on our site has the latest BCH price. Pricing is also available in a range of different currency equivalents: US Dollar – BCHtoUSD British Pound Sterling – BCHtoGBP Japanese Yen – BCHtoJPY Euro – BCHtoEUR Australian Dollar – BCHtoAUD Russian Rouble – BCHtoRUB Bitcoin – BCHtoBTC About Bitcoin Cash Bitcoin Cash was born out of the idea of making Bitcoin more practical for small, day-to-day payments. In May 2017, Bitcoin payments took about four days unless a fee was paid, which was proportionately too large for small transactions. A change to the code was implemented and Bitcoin Cash was born on 1st August 2017. More Bitcoin Cash news and information If you want to find out more information about Bitcoin Cash or cryptocurrencies in general, then use the search box at the top of this page. Here’s an article to get you started: Roger Ver to launch crypto exchange on Bitcoin.com By Oliver Knight – November 12, 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 Cash price and analysis (BCH to USD) appeared first on Coin Rivet . || Bitcoin is winning; currency without government is great, says Nassim Taleb: Nassim Nicholas Taleb, author of the bestsellers "The Black Swan and Fooled By Randomness, is optimistic about cryptocurrencies. You cannot ignore the cryptocurrencies, particularly the bitcoin story and blockchain, Taleb said at Times Networks India Economic Conclave on Tuesday. The Lebanese-American author believes that people of some countries, such as Lebanon, have lost faith in governments and banking systems. I am realizing Lebanon is in a situation where there is an implied currency control but the government cannot control bitcoin which is a good thing because people have no trust and the ability of the central bank which really causes the ponzi style collapse and the bitcoin does not have that, said Taleb. Bitcoin is winning, according to the 59-year-old author, and currency without government is great. Taleb further said that he has an institute, which now accepts payments in bitcoin. I am very glad that we have cryptocurrencies...Of course, you are going to have frauds and ponzi schemes and all that with bitcoin and cryptos but when you see governments like in Lebanon, doing the ponzis you tell yourself what is better, he said. This is not the first time the author has had a positive stance on cryptocurrencies. In response to a news story about capital controls imposed by Lebanese banks, he recently tweeted : The most potent case for cryptocurrencies: banks are never there when you need them. And they are trying to bully the public so they avoid accountability and profit disbursements. Bankers are legal crooks. || A Noxious Combination Of Weak Data And Trade Talk Uncertainty Have Sullied The Landscape: The latest activity, employment, and growth data out of China, Australia, and Japan are suggesting the tariff knock-on effect is worse than expected as economic conditions refuse to adjust to trend. And despite the deluge of central bank easing, business investment is not responding as expected.
So, when Thursday’s miscellany of US data failed to inspire, traders further reduced short bond markets bets sending the critical US 10-year Treasury yield tumbling to 1.80 %, taking its declines to over 10 basis points this week as traders pared-back reflationary bets. Indeed, it’s stairs up for US yields and the express elevator down on the noxious combination of tariff rollback uncertainly and weaker macro data.
More back and forth over the status of ‘Phase One,’ with the Financial Times reporting that the US and China are struggling to wrap up the talks US and China struggle to finalize ‘phase one’ trade deal
There are some recriminations, with the US claiming that China is delaying the deal, which would seem to play into the view that President Trump is under pressure, having effectively announced a deal a couple of weeks ago. These are complex, long-term issues, so it should be no surprise that Phase One is hard to close. The big question should be about what comes next. How long will Phase Two take?
Trade talk uncertainty is headline risk, whereas weak data is a macro risk. The worse than expected economic numbers are providing a stark reminder just how dire global economic conditions are and how necessary a rollback in a significant chunk of US tariffs are needed to adjust the listing ship.
Not to mention that the Chinese economy needs a policy jolt. Growth has fizzled over recent quarters, and, broadly, we are back down to 2015 cyclical lows, if not below.
Here’s the thing, as bad as the latest run of backward-looking data is, still we’re likely only a positive trade talk development headlines away from sending the market skywards again. And perhaps the worse than expected evidence has added just enough premium to that potentially massive tariff rollback payout significantly enough to offset the lower probability of that dividend-paying out after President Trumps NY speech. One would have to think that worsening economic data would motivate both the US and China to get back to the negotiation table and not only agree to a tariff rollback but that critical enforcement mechanism.
One look at the frothyUS equity marketsuggests investors are hanging on and even adding to that tariff rollback optimism trade.
Honestly, for investors’ well-being, lets hope trade talks all go according to the script. Otherwise, if US-China trade negotiations turn south and there is no détente, bond term premium retraces the .45 % improvement of the past couple of months while equity market will likely collapse.
The flipside is also notable. If a trade negotiation is reached, there is likely upside to the .4-.6 % range, which could take us beyond 2.10% 10-year UST yield, but it will require a definite phase 2 roadmap to get us there. At current levels, the risks – both to the upside and downside – seem to reasonably well priced at current levels.
Hong Kong descent into mobocracy has taken a significant turn for the worse as populism paralysis ensnared the city this week. And well beyond the financial market upheaval and capital flights that play a distant second and third fiddle to human welfare concerns. The US senate is quickly setting up the passage of the Hong Kong Democracy bill by placing the city’s special trading status with the U.S. under annual review. In the past, the US and China have compartmentalized political issues away from tariff talks, like what has been done with Huawei, although the Hong Kong issues are exponentially more significant than Huawei. But it’s unclear e if this will be the case on the Hong Kong mega issue.
Given that China has said they will retaliate to any US interference, I wonder just how forcefull that retaliation will be when they are clearly losing this battle in the global court of public opinion. I’m not sure China wants to improve President Trump’s approval rating anytime soon.
Oil prices gave upsome hard-earned gains after US Crude stocks rose 2.2Mb, bearish vs. consensus for a 1.6Mb Whatever momentum was gained this week from OPEC jawboning and when putting it within in the context of a seemingly never-ending run of US inventory builds. Bullish for oil OPEC ambitions are still running into decent supply glut offers, keeping the bulk of price action confined to the WTI mid-level zone between USD 55.75 – 57.75 per barrel as we patiently await the next trade talk headline.
The EIA publishes its November Drilling productivity report next week (18 November). The report will provide the market with excellent growth assumptions in the short term. Drilling and completion activity, as well as rig productivity forecasts, will be of interest as the industry resorts to DUC drawdowns to support short-term growth as rig counts fall.
Gold has made of blow-off bottom in recent days, first triggered by trade talk uncertainty, then supported by a run of virulent macro global data and framed by influential Fed Williams saying US monetary policy is trying to keep the economy in a good place. “Keep” is the key here as it suggests the Fed is not straying too far from the rate cut lever. If the US economy needs additional stimulus, then there is policy space.
Whilegold remains an excellent defensive strategyagainst trade tensions, resurfacing, and intensifying. But in the absence of a definitive shift lower in Fed policy, rallies above $1480, which is needed to confirm a buying trend has re-emerged, might be hard-pressed in the absence of a dovish Fed.
On a positive note, some considerable long positioning has been squared up in the past two weeks, emboldening buyers as the threat of a long position squeeze has lessened. Still, in the event of a positive trade headline, that we may need to assume coming, critical support is expected to come in at $1445 from a technical perspective.
With US bond yields falling and the negative shift in trade talk headline risk, key 108.50 gave way triggering retail stop-loss orders. But with positioning looking much cleaner at current levels, a USD bid has started to re-emerge as traders may begin viewing the US exceptionalism index (QQQ vs. EEM), which might start to look attractive to theUSDJPY bulls.
The ringgit is trading weaker weighted down by equity market outflows, weak economic data out of China, and uncertainly over trade talks. Traders will now look to Malaysia GDP print for monetary policy clues, but with the market singular focused on the trade talks, the GDP print may need to blow out the expectation to get a significant rise from the ringgit bulls.
This article was written by Stephen Innes, Asia Pacific Market Strategist atAxiTrader
Thisarticlewas originally posted on FX Empire
• U.S Retail Sales and Trade Put the Greenback in Focus
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• U.S. Dollar Index Futures (DX) Technical Analysis –Trading on Weak Side of Retracement Zone; Lower for Week
• Currency Market Do Not Share Trade Optimism
• Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 15/11/19 || Hong Kong regulator sets out rules for crypto exchanges to get licenses: By Alun John
HONG KONG (Reuters) - Hong Kong's financial regulator published new rules on Wednesday that would allow cryptocurrency exchanges to receive an operating license, a step intended to improve regulation and standards and help prevent fraud.
Market watchdogs have been debating whether and how they should regulate the cryptocurrency industry since Facebook's plans to launch its Libra digital currency caused many of them to broaden their focus on digital assets beyond investor protection concerns.
Hong Kong hosts dozens of cryptocurrency exchanges, also called virtual asset trading platforms, including some of the world's largest.
Ashley Alder, chief executive of Hong Kong's Securities and Futures Commission (SFC), said such exchanges had largely escaped regulation until now because most of the virtual assets traded on their platforms were not technically securities.
"After an in-depth examination of their unique technical and operational features, we concluded that some could be regulated by us," Alder said in a speech before the SFC published its new regulations.
Some cryptocurrency exchanges in Hong Kong and elsewhere say they welcome regulation as it would boost standards and allow licensed exchanges to differentiate themselves from unlicensed competitors. Others prefer to operate further under the radar.
NEW FRAMEWORK
The new rules, under which exchanges can apply to be regulated from Wednesday, draw on the standards the SFC expects for conventional securities brokers.
They stipulate that an exchange that wants to be licensed must provide services to professional investors only, have an insurance policy to protect clients in case assets are lost or stolen, and use an external market surveillance mechanism.
Cryptocurrency exchanges do not need an SFC license to operate provided they do not trade any products defined as a security. Bitcoin for example is not a security, Alder said.
Bringing all exchanges under the SFC's wing would require new legislation. It is not yet clear how many cryptocurrency exchanges will apply for a license or meet its standards.
Last year, Alder announced a new framework that would allow asset managers investing in digital assets and selling products in Hong Kong to receive an SFC license. Hardly any have been able to meet the SFC's requirements.
In a separate statement on Wednesday, the SFC warned investors about purchasing bitcoin futures in Hong Kong. Alder said in his speech that exchanges allowing trading of such products "may well be conducting an illegal activity".
(Reporting by Alun John; Editing by Clarence Fernandez and Timothy Heritage) || Bitcoin price plummets amid mysterious cryptocurrency market crash: The price of bitcoin tripled between January and August 2019 before a cryptocurrency market crash knocked thousands of dollars from its value in late September: Getty Images The price of bitcoin and several other major cryptocurrencies have dropped dramatically over the last 24 hours, wiping billions from their value. Bitcoin fell by more than 10 per cent to take its price below $7,400 (£5,700) for the first time since May, with no sign of the current crash slowing down. Ethereum, ripple, bitcoin cash and ripple all saw losses of between 5 and 15 per cent over the last day. Cryptocurrency analysts struggled to explain the sudden crash but said further losses should not be ruled out. The market movement comes in stark contrast to bitcoin's generally positive year-to-date, which has seen it rise from below $4,000 in January 2019. Recent positive developments in the cryptocurrency space had some investors hoping that bitcoin would continue to see gains, especially after both China and the EU appeared to endorse the notion of blockchain-backed digital currency . Last month Chinese president Xi Jinping described it as an "important breakthrough", prompting a state-run newspaper to publish a front-page story about the success of bitcoin. It came after years of China taking a hardline stance towards the industry and comes amid rumours that the country is preparing to launch its own cryptocurrency next year. One possible explanation for bitcoin's mysterious crash could be further developments in China that saw a fresh crackdown on illegal exchanges. The country's public endorsement of cryptocurrency seemed to fuel an increase in trading activity on illicit platforms, resulting in a response from the People's Bank of China. "Once it is discovered, it will be stopped immediately," the bank stated . Read more EU considers launching its own version of bitcoin || Trial Back on After Craig Wright Breaks Bitcoin Settlement Agreement: Australian-born technologist Craig Wright has attested that he cannot finance his court settlement negotiated with the Kleiman estate. According to a court document filed in the Southern District of Florida Oct. 30, Wright pulled out of the settlement agreement in which he would forfeit half his intellectual property and bitcoin mined prior to 2014. With the agreement broken, trial motions are now back on. The document was filed by Kleimans counsel to set a date to depose an out-of-state witness. Related: South Korean Court Issues Landmark Decision on Crypto Exchange Hacking Ira Kleiman brought the charges against Wright in 2018 on behalf of his deceased brothers estate. Kleiman alleges Wright manipulated business documents, emails and other correspondence to defraud the estate. Wright was sanctioned in late August, after being found in contempt of court by Magistrate Judge Bruce E. Reinhart for failing to disclose a complete list of his bitcoin addresses, reportedly amounting to 1.1 million bitcoin. During the hearing, Wright claimed his bitcoin was inaccessible due to his former business partner David Kleimans death as well as a complicated encryption scheme. The arguments were found to be inconsistent and in bad faith. These discussions began at Craigs request and due to the fact that Craig represented he had the means to finance a settlement, Velvel Freedman, member of the prosecution and partner at Roche Freedman, said in the filing. Related: Longfin Must Pay $6.8 Million After Court Backs SEC Fraud Complaint Wright allegedly reneged on the non-binding agreement without notice. Earlier, just days after the sanction was levied, Wright requested additional time to challenge the judges court order due to the approach of Hurricane Dorian . Kleiman is represented by Kyle Roche and Velvel Freedman of Roche Freedman LLP, while Wright is represented by Rivero Mestre LLP. The trial date is set for March 30, 2020. UPDATE (Nov. 3, 19:00 UTC): The headline of this article has been updated to clarify that a final settlement had not been reached; the parties had simply reached a non-binding agreement that could have led to one. Story continues Law image via Shutterstock Related Stories Craig Wright in Discussions to Settle Multi-Billion-Dollar Court Case Craig Wright Aims to Challenge Court Decision That Cost Half His Bitcoins || ErisX Takes on Bakkt With Launch of Physically Settled US Bitcoin Futures: Crypto derivatives platform ErisX is officially live with its physically settled bitcoin futures contracts, launching only the second such product suite in the U.S. The company announced in a market notice Monday that its “Futures Digital Currency Products” would begin trading Tuesday, starting 8:00 a.m. Central Time (14:00 UTC). The marketplace’s daily trading hours run to 4:00 p.m. CT (22:00 UTC). In a pair of announcements shared exclusively with CoinDesk, the company elaborated on its new products, noting they would be trading alongside the company’s existing crypto spot exchange . ErisX is only the second company to offer physically settled bitcoin futures in the U.S., following the launch of Intercontinental Exchange’s Bakkt futures contracts in September of this year. Cash-settled futures have been trading in the U.S. since 2017, when CME and Cboe launched their own products, though Cboe discontinued its bitcoin futures earlier this year. Related: Authoritarian Airdrop: Maduro ‘Gifts’ Petros to Venezuelans for Christmas According to a product page posted Monday, ErisX’s bitcoin futures will see a contract size of 0.1 bitcoin ($663 at current prices), with customers able to trade monthly or quarterly contracts at launch. Traders will have a position limit of 200,000 contracts and a minimum price increment of $1 per bitcoin (or $0.10 per contract). While ErisX’s futures market is opening Tuesday, investors will not be able to participate through futures commission merchants or brokerages until early next year. A specific date has not yet been announced. “We know that growth in open interest will take time and there are clear challenges ahead,” the company said in a blog post. “Introducing an intermediary market is a multi-step process, not an event, and our experience with such launches has taught us to build for longevity.” Early adopters Wedbush Securities is one such futures commission merchant that will participate in the marketplace, according to a statement by Wedbush executive vice president Bob Fitzsimmons. Related: France’s New ‘Napoleon Bitcoin Fund’ Is Tied to CME’s Cash-Settled Futures “ErisX has taken many steps to build out their intermediary-friendly model for digital assets including the consideration of how many FCMs manage back-office processes through FIS ,” he said. ErisX currently offers spot trading services in 44 different U.S. states, with plans to add another five states and four territories (Hawaii is not on this list). In a statement, ErisX CEO Thomas Chippas said the company met “aggressive goals” in raising funds and building out its team, as well as with developing its matching engine and futures clearing system. Story continues “After the Commodity Futures Trading Commission (CFTC) granted us a Derivatives Clearing Organization (DCO) license this summer, we have been focused on our offering and are thrilled to be ending the year with the launch of our futures market,” Chippas said. Eris Exchange, a derivatives market provider founded in 2010, unveiled ErisX in October 2018 , announcing the new crypto unit had received backing from major retail brokerage TD Ameritrade. Fidelity, Bitmain, ConsenSys and Nasdaq also participated in later funding rounds. The company secured the regulatory licenses needed to offer futures products in the U.S. through 2018 and 2019, including its derivatives clearing organization (DCO) license in July. ErisX will see small amounts of competition at launch, with only Bakkt offering a similar product at present. While fellow derivatives provider LedgerX is working to offer bitcoin futures products, the CFTC has yet to approve a final license for the company. “The launch of ErisX’s fully regulated futures market is a significant development for the digital asset industry,” E*Trade SVP Chris Larkin said in a statement. “The more accessible contract size and transparent order book provides first time market participants exposure to digital assets through a familiar mechanism.” Related Stories Bakkt Goes Live With Options, Cash-Settled Futures Products State Street: 38% of Clients Will Put More Money into Digital Assets in 2020 View comments || Blockchain of Things Pays SEC $250,000 to Settle Unregistered ICO: Internet startup Blockchain of Things Inc. (BCOT) agreed to pay $250,000 to settle with the U.S. Securities and Exchange Commission for launching an initial coin offering without registering with the regulator. The federal securities regulator has long held that ICOs are a form of security and thus must be registered. In an order dated Wednesday, BCOT agreed to refund investors who notify the firm they want their money back. It must make efforts to inform token buyers individually and on its website of the potential claim. Related: Libra Lacks Clarity on ‘Opaque’ Currency Basket, Says Fed Reserve Governor According to the SEC, the firm raised nearly $13 million from the ICO in December 2017 even after the regulator warned the firm its token sales could be considered securities offerings, citing its investigation of another company, DAO , in 2017. BCOT sold its digital tokens to U.S. investors and engaged four “resellers” to serve as the exclusive sellers of the tokens in foreign countries where it can resell the tokens to U.S. investors, according to the SEC’s findings. In its pre-sale white paper, BOT said part of the funding from the ICO would develop a blockchain-based platform to allow third-party developers to build applications for message transmission and logging, digital asset generation, and digital asset transfer, the firm said in the statement. Under the settlement, BCOT will register its tokens as securities and file periodic reports with the SEC. Related: SEC Proposal Would Broaden ‘Accredited Investor’ Definition A slew of crypto startups launched ICOs to raise money for their tokens amid the bitcoin market boom at the end of 2017, running afoul of the SEC, which considers token sales securities that should be subject to federal securities laws and information disclosure. Earlier in December, the SEC charged crypto startup Shopin and its CEO Eran Eyal with fraud involving a $42 million unregistered ICO. In September, the SEC ordered EOS maker Block.One to pay $24 million in penalties for not registering with the commission. The company raised over $4 billion via an ICO in May 2018. Related Stories Bitcoin App Bottle Pay Shuts Down Over Impending EU Money-Laundering Laws Netherlands Plans to Punish Crypto Scammers With Up to 6 Years in Jail || The Big Global Growth Rebound Trade of 2020: After months in the making, and a last mile that ended up being a race of endurance. It came down to the majesty of a Trump tweet indicating both sides were getting VERY close to a BIG DEAL with China , that provided the clearest signpost that a deal was imminent and led to a sharp record-setting rally in equities and a sell-off in Treasuries. Risk assets have predictably surged, and those investors who were holding on to trade deal premiums were hugely rewarded for their patience as December 15 hedges unwound, and negative equity market bets are getting stopped into trades. And thanks to the China trade story, no one seemed to care about the U.K. election anymore, except those who are trading pounds. Big mistake as the exit polls are pointing to an 86 Conservative majority and with Lagarde acknowledging that a combination of structural reform, monetary and fiscal tools need to be available to the ECB, E.U. and U.K. markets could have considerable room to run. However, for growth assets immediate concerns, the devil will be in the trade deal agreement details and to the extent of the tariff rollbacks, but with one significant trade barrier removed, it looks more and more like the market wants to play The Big Global Growth Rebound in 2020 trade. The crucial first signal was from the Feds that gave the all-clear to hedge funds and real money to start putting on USD downside exposure without worrying about a Fed response to Fridays stonking jobs report. With a tame inflation environment guaranteed to keep U.S. rates in check and as the persistent global slowdown appears to be decreasing, its providing a great set up to extend risk-on horizons. Indeed, with high-frequency indicators from PMIs suggesting the data is bottoming, we could be entering a global economic sweet spot. If this plays out, we should expect a much lower USD, especially against Asia and Euro, which were the two regions most devastated by the manufacturing recession due to the protracted trade war. So, absent the tail risk from trade, the scope for catch-up in F.X. spot returns in more export- and equity-sensitive currencies like KRW, TWD, and MYR. Story continues Stronger commodities and higher oil prices would also be a function of reduced risk from trade. Oil markets Oil is up after the U.S. reaches a trade deal with China. But the complex nature of the Oil market seldom, if ever, elicits a pure binary reaction to what should be a favorable outcome for prices. While benefiting from the Trade deal, traders remain focused that the market is likely to remain oversupplied in 2020 H1(according to the IEA) just when the effect of the current U.S. tariffs is expected to leak into the U.S. economy. So, while the current trade deal will most probably limit demand devastation, it might not be enough to counter an oversupplied market in early 2020 hence the possible reason we are not seeing a massive bounce in oil prices now commensurate with the frothy risk-on environment. But taking out offers might not be a bridge too far as the oil market should flourish in this environment trade deal aside, which should be hugely bullish. A less hawkish Fed, weaker USD, a growing sense that macro headwinds have diminished, and the emergence of the global growth rebound trade, should all provide the ultimate springboard for oil prices. Gold markets Gold is a bit anomalous as I had initially pegged gold lower on a tariff rollback trade deal, but with the tame U.S. inflation environment possibly keeping U.S. yield in check, gold may not necessarily have the blow-off bottom as a result of the trade deal. But in the absence of an absolute dovish Fed, downside risk remains elevated as cross-asset relocation into equities could intensify into the weekend even more so if the global growth rebound trade takes hold. Currency Markets The Pound The exit polls show the Conservatives with a decent majority on 368 seats, versus Labour sliding to 191 seats. If proved right, that is a resounding victory for Prime Minister Johnson. Far more emphatic than polls have suggested in recent days. The GBP/USD added an instant 2% on the back of the exit poll, trading up at 1.3500(upper-end of the bullish target) One-way risk-on bias to F.X. flows since the exit polls, and there was little interest in fading the move until 1.3500, But this could have been a result of the exit poll showing the SNP with 55 seats would be a near clean sweep for the party. It would undoubtedly invigorate Scottish calls for another independence vote. Australian Dollar The 200 DMA has been testing, but with the market apparently wanting to play out the tremendous global growth recovery, the Aussie could have legs to run. Sure, the recent run of domestic data, looks dreadful but forward-looking global growth optimism will always trump backward-looking local data any day of the week in currency land. The Yuan Phase one deal is a fait acompli, 6.95 targets reached now its time to do it all over again as we enter what could be an even trickier phase 2. Traders wont be quick to turn a blind eye to the U.S. passage of Hong Kong and Xinjiang Bills, which could ultimately be critical for the markets assessment of the quality of the U.S. and China relationships going forward. The Ringgit The Ringgit will revel in the afterglow of the US-Trade deal. Absent the tail risk from trade; there is a significant scope for export and equity flow-sensitive currencies like the Ringgit to perform well, especially with cheap valuations on offer at the KLCI. This article was written by Stephen Innes, Asia Pacific Market Strategist at AxiTrader This article was originally posted on FX Empire More From FXEMPIRE: Fed Says No Hikes In 2020. What About Gold? European Equities: A Tory Victory and A U.S China Trade Agreement! Bitcoin Cash ABC, EOS and Ethereum Daily Tech Analysis 13/12/19 Silver Claws Close to $17.00 Gold Price Prediction Prices Consolidate Despite Falling Dollar Gapping Rotation In Spy And News Based Rallies Are A Warning
[Random Sample of Social Media Buzz (last 60 days)]
Nigerian fintech Opay — founded by crypto-supporting web browser Opera — has raised $120 million in series B funding to scale its payments solution across Africa https://t.co/MarQPnsxhC $BTC $ETH $XRP $BNB || https://t.co/BwwxgMN9k7 #crypto #btc #blockchain #bitcoin #cryptocurrency #china #pboc https://t.co/Pd7K91iCb5 || onlyfans the new bitcoin || [BETA] 📈 The bot QUOTRON earn $234.22 USD SELL $BTC.X on 2019-11-06T01:06:44.470Z with pair $BTCUSD in 269 performed trades. More info at https://t.co/Pzba5SyZSh #bitcoin #ai #bot #trading || Get $5 Instant By Paysilk Don't Miss | Join Fast
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#Airdrop #Airdrops #airdrop_hunter #airdropalert #bitcoin #ethereum #earnmoney #freecoins #Crypto #CryptoNews #cryptocurrencies https://t.co/QaZExdy3uu || @TheStalwart You never know 😅
https://t.co/uGsHPPfX3V || #Bitcoin Bull Market Will Unveil Over Three Phases says, Leading Analyst @woonomic
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https://t.co/icXWi0s3tz || Compra bitcoin con Airtm https://t.co/V5BgS78miX https://t.co/v5ndvWUOoR || #BlockSafe #BSAFE #STO #bitcoin #btc #cryptocurrency https://t.co/naVHsTXxoa
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Trend: up || Prices: 6985.47, 7344.88, 7410.66, 7411.32, 7769.22, 8163.69, 8079.86, 7879.07, 8166.55, 8037.54
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2022-06-09]
BTC Price: 30112.00, BTC RSI: 45.86
Gold Price: 1848.80, Gold RSI: 47.24
Oil Price: 121.51, Oil RSI: 67.00
[Random Sample of News (last 60 days)]
UST Backer LFG Seeks $1B to Shore Up Stablecoin Peg: Report: Don't miss CoinDesk's Consensus 2022 , the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12. The Luna Foundation Guard (LFG), stewards of Terra’s UST stablecoin, are looking to raise over $1 billion. According to The Block , LFG will use the cash to help restore UST’s dollar peg. On Monday the algorithmic stablecoin fell as low as 60 cents amid broader crypto market turmoil. It has been around 90 cents on Tuesday. Jump, Celsius, Jane Street and (perhaps) Alameda are reportedly in talks for a deal that will allow them to purchase LUNA , Terra's token, at a 50% discount. The tokens would be subject to a one-year lockup and vest monthly in year two, according to The Block. The firms did not immediately respond to CoinDesk's request for comment. LFG did not comment on the funding round when reached by CoinDesk. Earlier Tuesday, Do Kwon, the founder of Terra creators Terraform Labs, tweeted: “Close to announcing a recovery plan for $UST. Hang tight.” Close to announcing a recovery plan for $UST . Hang tight. — Do Kwon 🌕 (@stablekwon) May 10, 2022 UST uses blockchain-based mint and burn mechanisms to, in theory, keep its price at exactly $1. It uses LUNA as a sort of shock absorber for UST volatility by guaranteeing that 1 UST can always be swapped for $1 in LUNA, which has a floating price. When UST fell as low as 60 cents on Monday, it sent shockwaves through the entire decentralized finance (DeFi) industry, even sparking comments from U.S. Treasury Secretary Janet Yellen on the risks of crypto stablecoin bank runs. As UST cratered and the price of LUNA dropped nearly 50%, LFG deployed over $1.5 billion of its newly formed bitcoin ( BTC ) reserves to defend UST’s peg. With the help of professional market makers, the reserves appear to have successfully lifted the price of UST back up to 92 cents at press time. This was a major boost from Monday’s lows, but it doesn’t count as a full recovery given UST remains below its dollar peg. || Pantera Capital Set to Close $1.3B Blockchain Fund: Don't miss CoinDesk's Consensus 2022 , the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12. Pantera Capital plans to close the Pantera Blockchain Fund, its first blockchain fund, in the next three to four weeks with about $1.3 billion in committed capital, according to an investor conference call. The amount is more than double the $600 million target when the company began fundraising last November. Pantera last month said commitments then had surpassed $1 billion. The fund was launched during a record-setting period for crypto investment vehicles, including a $2.5 billion fund from Paradigm that also begun in November. Pantera also outlined its near-term road map, including plans for a second blockchain fund in 2023. Franklin Bi, director of portfolio development at Pantera, said the follow-up will have essentially the same objectives as the initial fund – new deals in early-stage, private tokens and venture capital. “We will come back with a larger and more diversified and probably longer-investment-period growth-stage fund, say in 2024,” Bi added, speaking about the firm's plans beyond the second blockchain fund. The investor call was for the new Pantera Select Fund announced last week with a $200 million commitment to invest in “more mature, revenue generating companies,” according to a client letter. The Select Fund was Pantera’s fifth, joining the Bitcoin Fund, Early-Stage Token Fund, Liquid Token Fund and Blockchain Fund. Select is “smaller, more targeted and therefore more concentrated than a typical growth fund,” Pantera said. The deadline for limited partners to get in on the Select Fund is May 1. Read more: Bear Markets, Regulations and That Bain Crypto Photo: A Chat With Pantera Capital’s Chief of Staff || 6 Sucker Stocks To Avoid No Matter What Right Now: These six sucker stocks may look like bargains right now, as they have all recently fallen quite dramatically. However, their underlying problems or simply the fact that they have apparent problems could wear away at their stock prices over the long term.
In some cases, the stock may have issued a profit warning. And in others, it may have actually reported lower earnings. In any case, I follow the principle of “where there’s smoke, there’s usually fire.” In other words, there are simply too many other good stocks to pick from than a falling knife situation.
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So, with that in mind, let’s dive in and take a closer look at these seven stocks to avoid.
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
[{"Ticker": "MSPR", "Company": "MSP Recovery", "Price": "$1.28"}, {"Ticker": "HOOD", "Company": "Robinhood", "Price": "$9.42"}, {"Ticker": "SNAP", "Company": "Snap", "Price": "$13.73"}, {"Ticker": "PINS", "Company": "Pinterest", "Price": "$18.97"}, {"Ticker": "ANF", "Company": "Abercrombie & Fitch", "Price": "$20.25"}, {"Ticker": "GRAB", "Company": "Grab Holdings", "Price": "$2.50"}]
Source: carlos castilla/Shutterstock
MSP Recovery(NASDAQ:MSPR) closed itsspecial purpose acquisition company (SPAC)merger on May 24 and subsequently fell out of bed. The Medicare litigation and technology company fell 32% on Friday, May 27, down to $1.74 per share.
MSPR shares were at $5.06 after their market debut on Tuesday, down 53% from their pre-merger close of $10.78 on Monday, May 23.
The huge drop occurred afterForbesmagazine came outwith a skeptical article on May 25 on the company and its founders. The article claims that at Tuesday’s close the stock was trading at a value of around $10.8 billion. At the current price of $1.26, that lowers its market value to about $3.71 billion. ButForbespoints out that in 2021, MSP Recovery reported a net loss of $33 million on $14.6 million in revenue. In turn, thearticle raised doubtsabout its ability to generate revenue that justifies the high valuation. And the company immediately came out with a statement that disputes the claims in the article.
Collectively, this is a “smoke and fire” kind of stock. So it’s best to stay away at least until the issues are clearer and it looks like a clear bargain.
Source: dennizn / Shutterstock.com
Robinhood(NASDAQ:HOOD) announcedresults on April 28showing that its revenue for Q1 was down 43% to $299 million, compared with $522 million in the first quarter of 2021. Moreover, its net loss was $392 million, or a loss of 45 cents per share.
People, especially Millennials, are not trading cryptos, options and meme stocks as much as before, putting a huge dent in its transaction revenue. Don’t expect this situation to turn around until the market stops worrying about a recession.
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At this point, given that the Federal Reserve is intent on raising rates even further, the markets will remain jittery for a while. That means stay away from HOOD stock, at least until the market hits another lower bottom.
Source: Ink Drop / Shutterstock.com
Snap, Inc.(NYSE:SNAP) issued a profit warning on May 23. This was done inan SEC filingstating that its expectations for Q2 revenue and EBITDA (earnings before interest, taxes, depreciation, and amortization) will not meet the low end of its prior guidance.
As a result, the stock fell from $22.47 on May 19 prior to the announcement to now sitting at a price of $13.96 per share, a drop of 38% in about two weeks. The reason is the company said the “macroeconomic environment had deteriorated.” That affects the general level of advertising that is flowing to the company.
This could get worse than even now expected, especially since the Fed is intent on raising interest rates even further. The decline in ad revenues may not have hit a bottom, even though the market is discounting a huge decline already.
Source: Nopparat Khokthong / Shutterstock.com
Pinterest(NYSE:PINS) could be hit by the same macroeconomic forces that are reducing ad revenues for Snap. In fact, PINS stock is already down 17.5% from May 19, right before the Snap profit warning.
Pinterest relies on the same type of large, general advertisers that Snap uses. That said, these companies clearly are reducing their digital ad budgets given the fickleness in the economy.
• 7 Stocks to Buy and Hold Forever in This Bear Market
Moreover, asThe Wall Street Journalrecently reported a number of retailers are getting hurt more than consumers. The companies and brand companies are expecting a drop in consumer spending soon.
Source: Jonathan Weiss / Shutterstock.com
Abercrombie & Fitch(NYSE:ANF) is another beaten-down member of the “stocks to avoid” group. Just recently, the fashion retailer reported an unexpectedQ1 adjusted loss of 27 centson May 24. This was in stark contrast to analysts’ expectations of positive profits.
In fact, according toSeeking Alpha, analysts were looking for a normalized earnings per share (EPS) of 7 cents per share. That is quite a shock and it hit investors hard.
The company blamed its losses on higher-than-expected freight and product costs. Investors can expect that the company will either have to raise prices. This could slow down sales, or else the retailer will have to keep eating losses going forward. Either way, this is not good for investors going forward.
Nonetheless, analysts are still positive on the stock. They project earnings of $2.02 for 2022 and $2.95 for 2023. That puts ANF stock on a trailing price-earnings ratio (P/E) multiple of 7.11 times this year, and a forward P/E ratio of 9.
The problem earnings might not be higher next year if the economy hits a recession. That’s why this could be a sucker stock and investors should stay clear. The likelihood of another earnings surprise on the downside is still very high, and that’s why it remains one of the stocks to avoid.
Source: Nor Sham Soyod / Shutterstock.com
Grab Holdings(NASDAQ:GRAB) is a Singapore-based company that provides ride-hailing and food delivery in a number of Southeast Asian companies. The stock took a hit last week after news emerged that two more executives at the company’s fintech quit. But that’s not all, asReutersreported that other senior executives have left in recent months too.
Furthermore, the company reported a loss of 11 cents per share on May 19 for the most recent quarter ending March 31. The company also reported that its adjusted EBITDA loss widened to $287 million vs. a loss of $111 million a year ago. This was despite a 6% higher revenue of $228 million compared to a year earlier.
In other words, the company’s earnings losses are widening. And if a global recession occurs, this will hurt the stock. So, like Abercrombie & Fitch, this one is also among the stocks to avoid.
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 the InvestorPlace.comPublishing Guidelines.
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The post6 Sucker Stocks To Avoid No Matter What Right Nowappeared first onInvestorPlace. || 7 Ideal Dividend Stocks to Buy for a Rich Retirement: Here are the seven the best dividend stocks to buy that offer a healthy retirement income. PepsiCo (NASDAQ: PEP ): This inflation-resistant business will continue rewarding shareholders. Intel (NASDAQ: INTC ): With a strong product lineup in the coming months, Intel could reestablish its dominance in its business segments. Fifth Third Bancorp (NASDAQ: FITB ): FITB has healthy loan and deposit growth and exposure to profitable markets in the U.S. Morgan Stanley (NYSE: MS ): The investment banking giant has effectively diversified income streams. United Parcel Service (NYSE: UPS ): The cash flow generating machine aims to return over $7 billion to shareholders this year. SL Green Realty (NYSE: SLG ): Office REIT with incredible occupancy rates that should be back with a bang in the post-pandemic world. AbbVie (NYSE: ABBV ): ABBV is not a one-trick pony anymore, as it has other oncology products firing lately. dividend stocks ce Source: Shutterstock Its perhaps never too early to plan for your retirement, especially in todays investing environment. Allocating a small portion of your savings each month can greatly impact your retirement portfolio. Nevertheless, it helps to focus on creating a diversified portfolio with plenty of dividend stocks that substantially curb the downside risk. You might be confronted with many uncomfortable decisions in ensuring you dont outlive your savings. However, the best way to avoid that predicament is to invest a substantial portion of your retirement savings in dividend stocks. Moreover, with the equity market experiencing such a massive correction, investors need to consider scooping up undervalued dividend stocks to buy, which are likely to offer plenty of upside. 7 Retirement Stocks to Buy to Turbocharge Your Savings Here are my top seven dividend stocks to buy for a rich retirement: InvestorPlace - Stock Market News, Stock Advice & Trading Tips Ticker Company Price PEP PepsiCo, Inc. $169.17 INTC Intel Corporation $42.54 FITB Fifth Third Bancorp $38.33 MS Morgan Stanley $83.74 UPS United Parcel Service, Inc. $179.13 SLG SL Green Realty Corp. $62.81 ABBV AbbVie Inc. $152.93 Dividend Stocks to Buy: PepsiCo ( PEP ) Cans of PepsiCo's (PEP) Pepsi soda are in a bucket of ice. Source: suriyachan / Shutterstock.com Story continues PepsiCo (NASDAQ: PEP ) is a global snack and beverage giant which has been incredibly successful in generating massive shareholder returns over the past decade. It has benefitted immensely from its strong moat and robust brand value. Moreover, its free cash flow generating machine has helped grow dividend payouts in the past 49 years. Recent results have shown its effectiveness in tackling the rising input rates. Its organic sales increased 13.7% during the first quarter (Q1), while its core earnings per share shot up 20% to $1.29 per share. The business expects full-year organic sales to increase by 8%, which represents a 2% increment from its previous forecast. Moreover, it has recently bumped its quarterly dividend by 7% , which takes its yield to a spectacular 2.74%. Intel ( INTC ) Sign of Intel (INTC stock) at entrance of The Intel Museum in Silicon Valley Source: JHVEPhoto / Shutterstock.com Intel (NASDAQ: INTC ) has established itself as a dominant player in client central processing unit and server markets, with more than 75% share in both sectors. It offers investors a remarkable 3.5% yield with eight years of dividend growth. It hs been facing tough competition from Advanced Micro Devices (NASDAQ: AMD ),but the next couple of years could potentially turn the tide for the firm. It has to do with its aggressive product roadmap, backed by billions in investments. It plans to invest $20 billion in developing a couple of new factories in Ohio state and up to 80 billion euro in Europe over the next ten years. The 7 Highest-Yielding Dividend Stocks to Buy Now for Income Intels 7nm process launch will give AMD a run for its money in the coming years. Its 7-nm process is significantly more powerful than AMDs 5nm process offering. Hence, Intel expects sales to increase in the long run, with 10% to 12% growth by 2026 . Dividend Stocks to Buy: Fifth Third Bancorp ( FITB ) Fifth Third Bank sign on brick building Source: Susan Montgomery / Shutterstock.com Fifth Third Bancorp (NASDAQ: FITB ) is one of the leading regional banks operating in the U.S. It has a presence across the Midwestern and Southern regions of the country, with a healthy exposure to the fast-growing markets in Texas and California. Its business has been posting stable growth over several years and has returned over 200% in total returns to its investor base. In Q1, average loans and leases came in at $113.46 billion , up from $108.95 billion in Q1 last year. Despite the slowdown in net interest income, loan and deposit growth was solid during Q1. Furthermore, the firm boasts an impressive dividend profile, yielding 3.21% with six years of growth in payouts. Morgan Stanley ( M.S. ) The logo for Morgan Stanley is displayed on the side of a building. Source: Ken Wolter / Shutterstock.com Morgan Stanley (NYSE: MS ) is an investment banking giant struggling amidst the slowdown in investment activity. Investment banking revenues dropped 37% in Q1 of 2021, drastically bringing down company profits. The bank faces substantial headwinds from rising inflation rates and geopolitical factors, which have crippled investor sentiment. However, Morgan Stanley has done a great job of diversifying its income streams. 7 Large-Cap Stocks to Buy Right Now It has increased client assets by 19% to a whopping $1.8 trillion in Q1. Moreover, the companys investment management segment saw growth of 1.6% from the prior-year period. Additionally, assets under management have increased by 1.9% to roughly $1.5 trillion. Also, its advisory revenues have soared to $944 million , representing 97% growth to offset the weak initial public offering activity. Furthermore, its ability to evolve has helped maintain its solid dividend yield of 3.41%. Dividend Stocks to Buy: United Parcel Service ( UPS ) Close up of UPS logo printed on a delivery truck. UPS stock. Source: Sundry Photography / Shutterstock United Parcel Service (NYSE: UPS ) is the largest global package delivery enterprise. It has been growing steadily over the past year, boasting double-digit sales and EBITDA growth. Additionally, its levered free cash flows have grown over 200% in the past year, with a healthy dividend payout. It increased its quarterly dividend and buyback targets in its Q1 earnings call. Moreover, it also maintained its incredible revenue and operating margin guidance. It expects to generate $9 billion in free cash flows , with a planned dividend payout of $5.2 billion. Additionally, the firm targets a greater-than 30% return on invested capital. SL Green Realty ( SLG ) Source: Shutterstock SL Green Realty (NYSE: SLG ) is a leading real estate investment trust (REIT) that offers property exposure to a premium retail space in Manhattan. It is a fully integrated REIT that owns roughly 5% of Manhattans office real estate. It is the single biggest office landlord in the borough. Its business suffered immensely due to the pandemic restrictions, so operating results were underwhelming in the past couple of years. Nevertheless, as the restrictions fade, things are looking upward. 7 REITs to Buy for the Second Half of 2022 Its occupancy rate is at 93% and its management plans to shrink the 7% vacancy. Nevertheless, a 93% occupancy rate is a mind-boggling result, considering the Manhattan markets occupancy rates fall in the 16% to 18% range. Moreover, management plans to increase its net operating income of $605.1 million by 18% until 2024. Perhaps a bigger sweetener is its eye-catching dividend yield of 5.98%. Dividend Stocks to Buy: AbbVie ( ABBV) abbvie (ABBV) website and logo on mobile phone Source: Piotr Swat / Shutterstock.com AbbVie (NYSE: ABBV ) is a biopharma giant primarily focuses on oncology and immunology. It is famous for its flagship rheumatoid arthritis medicine called Humira, which makes up roughly 50% of its profits. Total sales came in 22.7% higher at $56.2 billion last year. Moreover, sales of Humira jumped 4.3% year-over-year to $20.7 billion. In the past, ABBV has been criticized for being a one-trick pony, generating over 60% of sales from Humira. However, that seems to be changing with management actively working toward diversification of its portfolio. That is perhaps why sales of other drugs, including Rinvoq and Skyrizi, have doubled in the past year. In addition to this, ABBV is a leading dividend stock in the sector, with nine years of consistent growth in dividend payouts and a yield of roughly 3.7%. On the publication date, 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 . 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Says Buy THIS It doesnt matter if you have $500 in savings or $5 million. Do this now. Get in Now on Tiny $3 Forever Battery Stock Early Bitcoin Millionaire Reveals His Next Big Crypto Trade On Air The post 7 Ideal Dividend Stocks to Buy for a Rich Retirement appeared first on InvestorPlace . || Bitcoin: El Salvador hosts 44 countries to encourage crypto adoption: El Salvador became the first country in the world to adopt bitcoin as an official currency in September 2021 (Getty Images/iStockphoto) Eight months after becoming the first country in the world to adopt bitcoin as an official currency, El Salvador has invited 44 countries to discuss the rollout and benefits of the cryptocurrency . The Central American country will host representatives from Africa, Asia and Latin America on Monday, with financial inclusion and digital economy among the discussion topics. El Salvador President Nayib Bukele shared a full list of the attendees on Twitter , revealing that the central banks of both Egypt and Nigeria would be present, accounting for the two biggest economies in Africa. Tomorrow, 32 central banks and 12 financial authorities (44 countries) will meet in El Salvador to discuss financial inclusion, digital economy, banking the unbanked, the bitcoin rollout and its benefits in our country, President Bukele tweeted on Sunday evening. El Salvadors decision to adopt bitcoin came in response to combat hyper inflation and reduce its reliance on the US dollar. The country has also added bitcoin to its balance sheet, with a total reserve of roughly 2,301 BTC worth almost $70 million at current market rates. A recent price crash means that El Salvadors crypto holdings have fallen in value by around 28 per cent against the dollar, though the biggest purchase of 500 BTC came after President Bukele bought the dip when bitcoin was at its current price. Tomorrow, 32 central banks and 12 financial authorities (44 countries) will meet in El Salvador to discuss financial inclusion, digital economy, banking the unbanked, the #Bitcoin rollout and its benefits in our country. Nayib Bukele (@nayibbukele) May 16, 2022 The International Monetary Fund (IMF) has also warned other countries about following El Salvadors lead, claiming that bitcoin entails large risks for financial and market integrity, financial stability and consumer protection. Story continues Despite this warning, Central African Republic became the second country in the world to adopt bitcoin as legal tender last month, making it an official currency alongside the existing CFA franc. With cryptocurrency, there is no more control of the Central Bank, Gourna Zacko, CARs minister of the digital economy, said in a statement announcing the move. You have your money, you send an investor for a business, you receive it in any currency, you can dispose with it in dollar, euro, CFA or Naira. El Salvadors bitcoin experiment still has a long way to go, with the next major stage involving the construction of a brand new city named after the decentralised digital currency. Bitcoin City will be built at the base of the Conchagua volcano on the Gulf of Fonseca, and has been described by bitcoin advocates as a crypto utopia . || Australian Taxation Office Prioritizes Crypto Capital Gains for Tax Time: Key Insights: Australian Taxation Office outlines crypto capital gains for tax time 2022. ATO would be taking firm action to deal with taxpayers who try to counterfeit their records. ATO will also focus on record-keeping, work-related expenses, rental property income, and deductions. The Australian Taxation Office (ATO) has included crypto capital gains among four key focus areas for this years tax time. Capital gains warning for crypto sellers The countrys principal revenue collection body announced today that any crypto assets, including non-fungible tokens ( NFTs ) that are sold or disposed of this financial year, should include a capital gain or loss and be recorded in the tax return. According to ATOs assistant commissioner Tim Loh, the tax body targets problematic areas where people make mistakes. He noted, Crypto is a popular type of asset, and we expect to see more capital gains or capital losses reported in tax returns this year. Remember, you cant offset your crypto losses against your salary and wages. Australia has generally been regarded as a relatively friendly and stable jurisdiction for cryptocurrencies. Last week, bitcoin ( BTC ) and ether ( ETH ) ETFs managed by Sydney-based ETF Securities, in conjunction with Switzerlands 21Shares, started trading on the Cboe Australia exchange. ATO has indicated that cryptocurrency is a capital gains tax (CGT) asset. This is because of the increased adoption of digital assets in the Asia-Pacific region. The latest Roy Morgan research into Australians investments showed that 5% or over 1 million Australians now own at least one cryptocurrency. According to Loh, Through our data collection processes, we know that many Aussies are buying, selling, or exchanging digital coins and assets, so its important people understand what this means for their tax obligations. The capital gain rules also apply to property and shares sold this financial year. Other areas of focus for the tax authority include record-keeping, work-related expenses, rental income, and deductions. The ATO stressed that it would take firm action against taxpayers who deliberately try to falsify records. Crypto taxation in Australia The ATO has been clarifying the operation of the tax law on cryptocurrencies. For income tax purposes, the ATO views crypto as an asset held or traded and not at par with fiat currency. The authority has stated that tax implications for crypto holders depend on the purpose for which the crypto is acquired or held. The taxation body ATO has previously created a special task force to tackle cryptocurrency tax evasion. Also, it collects bulk records from Australian crypto-designated service providers in order to conduct data matching to ensure that holders are paying taxes appropriately. Story continues This article was originally posted on FX Empire More From FXEMPIRE: Italys Saras rises as high refining margins drive strong Q1 results Feds Williams: MBS sales could be an option down the road Hungary PM Orban warns of era of recession in Europe Analysis-Egypt faces sharp rise in costs to finance proposed $30 billion deficit French PM hands in resignation ahead of expected cabinet overhaul Trumps Truth Social posts will have to wait before reposts on other platforms View comments || A Bitcoin margin call. If the worlds leading cryptocurrency drops below $21,000, Michael Saylors MicroStrategy will be forced to pay up: Michael Saylor is perhaps one of the most fervent supporters of Bitcoin on the planetand thats saying something, given the almost cultlike community behind the worlds leading cryptocurrency. Saylor, an MIT graduate and the cofounder and CEO of the business intelligence firm MicroStrategy, has become a hero to the Bitcoin faithful ever since his company began stockpiling the cryptocurrency in August 2020. The CEO has gone so far as to call Bitcoin freedom , and the most universally desirable property in space and time. And at Bitcoin 2022 Miamithe largest Bitcoin event worldwideSaylor was met by thousands of cheering fans as he instructed the crowd to never sell their crypto. Saylors Bitcoin appetite has grown so much that the CEO is now borrowing millions from banks to add more of the cryptocurrency to MicroStrategys balance sheet. The collateral? Thats right, more Bitcoin. MicroStrategy added another $215 million worth of Bitcoin at an average purchase price of $44,645 per coin in the first quarter, SEC filings show, bringing its total holdings to 129,218 Bitcoins acquired for $3.97 billion, or $30,700 per coin. At Bitcoins $39,800 price as of 4 p.m. ET on Wednesday, the companys holdings were worth over $5.1 billion. The companys market cap, on the other hand, is roughly $4 billion. MicroStrategy has said it has no plans to sell its Bitcoin, and thus far, its buy-and-hold strategy has been profitable. But with Bitcoins price down roughly 35% in the past six months, that may be changing. As a result of its status as a quasi-Bitcoin ETF , and a pile of over $2.3 billion in long-term debt, MicroStrategys stock is down over 20% in the past month and nearly 65% from its February 2021 all-time high of over $1,000 per share. And if Bitcoins value continues to fall, Saylor and company could face one hell of a margin call. The margin call from hell MicroStrategys CFO Phong Le explained in the companys first-quarter earnings call on Tuesday that if Bitcoins price falls below $21,000, or around 50% from current levels, it will be forced to pony up more cryptocurrency to back its $205 million Bitcoin-collateralized loan with Silvergate Bank that was used to buy Bitcoin in the first place. Story continues We took out the loan at a 25% LTV; the margin call occurs at 50% LTV, Le said. So essentially, Bitcoin needs to cut in half, or around $21,000, before wed have a margin call. The CFO noted that MicroStrategy still holds quite a bit of uncollateralized Bitcoin that it could use to answer any potential margin call, however. As you can see, we mentioned previously we have quite a bit of uncollateralized Bitcoin, Le said. So we have more that we could contribute in the case that we have a lot of downward volatility. But again, we're talking about $21,000 before we get to a point where there needs to be more margin or more collateral contributors. So I think we're in a pretty comfortable place where we are right now. Still, taking out a loan collateralized by Bitcoin to buy more Bitcoin is a risky game. If the worlds leading cryptocurrency falls and a margin call goes through, MicroStrategy would be put in a tough spot. MicroStrategy did not respond to Fortune s request for comment. This story was originally featured on Fortune.com || Crypto Valley Venture Capital Launches African Blockchain Early-Stage Fund: Don't miss CoinDesk'sConsensus 2022, the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12.
DAVOS, Switzerland – Crypto Valley Venture Capital, which also calls itself CV VC, is launching an Africa-focused fund to support blockchain startups on the continent, the investor announced Monday at the Blockchain Hub adjacent to the World Economic Forum in Davos, Switzerland.
The fund is to invest in 100 startups in the African continent over the next four years, CV VC said in a press release. According to the announcement, CV VC has invested in 12 startups where "blockchain use cases go far beyond cryptocurrencies to drive Africa's future to date." The investor aims to raise between $10 and $50 million through the fund.
Among the 12 startups CV VC has already invested in are Leading House Africa, a startup from Nigeria that will allow land registration on the blockchain, and Mazzuma, a mobile payments platform from Ghana. According to Olaf Hannemann, co-founder and chief investment officer of CV VC, most startups are expected to originate from South Africa, Nigeria, Kenya, Ghana and Egypt but it is open to funding projects from the entire continent.
“We just want the best ideas from everywhere,” Hannemann said.
On Monday, CV VC published theAfrican Blockchain Report, which highlighted the growth of the blockchain sector in Africa. According to the report, on a year-on-year basis, funding for African blockchain startups outpaced the growth in general African venture funding by 11 times.
Africa is a fast-growing crypto market, attracting large investments from the crypto sector, according to the report. Earlier this month, Pan-African centralized crypto exchange Mararaised$23 million, led by Coinbase Ventures and Alameda Research. Central African Republicrecently adoptedbitcoin (BTC) as legal tender.
Swiss-headquartered CV VC is in a public-private partnership with the Swiss State Secretariat for Economic Affairs (SECO), Switzerland's labor market authority.
Read more:Web 3 Needs Africa, Not the Other Way Around || Now You Can Own Bitcoin in 401(k)s. Should You?: Concept art of someone placing a Bitcoin inside of a piggy bank Getty Images Fidelity Investments just made a major splash by announcing they will allow trading in Bitcoin in the 401(k) plans they administer starting midyear. This makes Fidelity the first major plan provider though almost certainly not the last to allow trading in Bitcoin. News was scant as to whether other major cryptocurrencies such as Ethereum would eventually be allowed in Fidelity 401(k) accounts. For now, the focus is on Bitcoin. SEE MORE 5 Dumb Crypto Mistakes (And How to Avoid Them) Fidelity is the largest player in 401(k) plans by a country mile, with more than $2.4 trillion in plan assets. So, the introduction of Bitcoin into a 401(k) is a big deal and opens vast new pools of liquidity to investment in the blue-chip cryptocurrency. But before you start licking your chops, there are a couple questions to consider. Will Bitcoin Be Available in My 401(k)? A 401(k) plan might look like a brokerage account, but they are managed, administered and regulated very differently. Remember: 401(k) plans are the primary savings vehicle for millions of Americans, and as such, the government regulates them not all that differently than it does traditional pension plans. The Employee Retirement Income Security Act of 1974 (ERISA) sets the rules here, and it requires that the plan have a sponsor, an administrator and a fiduciary. The sponsor creates the plan, the administrator handles the day-to-day management, and the fiduciary ensures that the plan is being run in the best interests of the participants. (Often your employer or a related party will fulfill one or all of these roles). SEE MORE Trading Options for Your 401(k) None of these are generally Fidelitys job. Fidelity role is that of a plan provider and custodian. They control the basic infrastructure that makes a 401(k) plan possible. They create accounts for plan participants and handle the buying and selling of investments. But importantly, Fidelity doesnt choose what investments are available in your companys plan. Thats the fiduciarys job. Fidelity can make Bitcoin available on its platform, but its up to your plan fiduciary to decide whether having cryptocurrency in your 401(k) is in the best interest of you and other participants, or whether to offer you other nontraditional investments , for that matter. Plan fiduciaries tend to be stodgy and conservative. Its their job to be a sober voice of reason. So, not every fiduciary is going to be in a hurry to make Bitcoin available as part of their 401(k) plans. Especially not when the government is giving it a leery eye. Story continues "The Department of Labor says it expects to open an investigation of plans that offer participants investments in cryptocurrencies," says Joy Taylor, Editor of the Kiplinger Tax Letter . "It will ask fiduciaries to demonstrate how they met their required duties of prudence and loyalty when choosing a cryptocurrency investment option for plan participants." Indeed, days following the announcement, a Labor Department official sounded the alarm. We have grave concerns with what Fidelity has done, Ali Khawar, acting assistant secretary of the Employee Benefits Security Administration, told The Wall Street Journal . In short: If your employers plan is held at Fidelity and you want to buy Bitcoin within your 401(k), you might have to give your HR department a little nudge. And if your employers plan is held anywhere other than Fidelity
well, for right now, youre still out of luck. Should You Buy Bitcoin in a 401(k)? Can and should are two very different things. SEE MORE 9 Ways to Cut Crypto Taxes Down to the Bone Your tax-deferred retirement dollars are precious. Given their ability to compound tax-free over time, a dollar in your 401(k) plan is more valuable than a dollar in a taxable account. You dont want to be reckless with that particular pool of money. That said, lets say that you believe in cryptocurrencies and that you consider Bitcoin an important long-term piece of your asset allocation. Holding that Bitcoin allocation in your 401(k) isnt a bad idea. The tax regime surrounding cryptocurrency is still very much a work in progress, and if youve ever had to report crypto gains or losses on your tax return, youre no doubt well aware of how burdensome the recordkeeping can be. If youre committed to owning Bitcoin, then owning it in a tax-deferred account certainly makes your life easier come tax filing season. Even then, basic common sense should apply here. Dont buy more Bitcoin than you should simply because you can. You dont want to put your retirement at risk in what is still very much a new asset class. But if youve determined a prudent amount to own, then holding Bitcoin within your 401(k) can be a smart way to do it. SEE MORE 18 Bitcoin ETFs and Cryptocurrency Funds You Should Know You may also like 37 Ways to Earn Up to 9% Yields on Your Money Your Guide to Roth Conversions Keeping Property in the Family with LLCs and Partnerships View comments || Cryptocurrency Crash Bolsters Case For Stricter Regulation: WASHINGTON – Cryptocurrency investors have lost hundreds of billions of dollars in the last week amid a selloff of digital assets and other riskier investments. The crash is an I-told-you-so moment for crypto critics who’ve said the industry needs stricter regulation in order to protect consumers. Some apparent investors posted despairing messages on Reddit about losing their life savings. “We have an unregulated system in which people speculated a lot on things that they didn’t really understand,” said Todd Phillips, an expert on financial regulation at the liberal Center for American Progress. “And we are seeing a giant market correction that is hurting a lot of people.” Sen. Elizabeth Warren (D-Mass.) called the crash “a reminder of what happens in an unregulated market where lots of money is moving around fast, nobody has any transparency into it, and there are no rules to make sure that consumers are protected.” Even crypto boosters acknowledged the need for closer supervision of the industry. Jake Chervinsky, head of policy for the Blockchain Association, the industry’s lead lobbying group in Washington, acknowledged on Twitter that last week was “among the most painful weeks in crypto history” and endorsed calls for Congress to step in. But what reform looks like is an open question, as many lawmakers remain unfamiliar with crypto and its associated jargon ― and many of the members who do know the lingo sound like they want to coddle the industry. Cryptocurrencies are not really currencies, though their proponents insist they could be widely used in commerce someday. For now, they’re just digital assets used mainly for speculative investing that are based on blockchain technology. Instead of going through an intermediary such as a bank, blockchain technology works by linking a peer network of computers. This month’s selloff — which saw the industry’s overall value plummet from $1.8 trillion to $1.1 trillion last week — was all the more notable because it involved the failure of a so-called stablecoin. Stablecoins are supposed to be less volatile, holding a one-to-one ratio to the value of a dollar. But a stablecoin called Terra totally collapsed, and another called Tether briefly lost its peg as well, as panicky investors sold off their holdings amid an apparent crisis of confidence in the tokens being able to hold their value. Story continues The Biden administration has said that only insured depository institutions like banks should be able to issue stablecoins, rather than random tech companies. Terra was created by a South Korean company called Terraform labs. “They present the same kind of risks that we have known for centuries in connection with bank runs,” Treasury Secretary Janet Yellen told House lawmakers during a hearing on Thursday. “They’re assets that purport to guarantee conversion at will to the dollar on a 1 for 1 basis.” Banks are required to hold assets in reserve in case of unexpected demand from depositors, and the federal government insures deposits up to a certain amount. Terra saw exactly the kind of run that federal banking rules are designed to prevent. Chervinsky said he supported more permissive proposals by Rep. Josh Gottheimer (D-N.J.) and Sen. Pat Toomey (R-Pa.) that would allow non-banks to issue stablecoins. Toomey and other Republicans, such as Rep. Patrick McHenry (R-N.C.), stressed that not all stablecoins are the same. Terra was backed by an algorithm instead of actual reserve assets. “It strikes me as quite possible that the design of Terra is fundamentally unstable,” Toomey told HuffPost. Toomey and Gottheimer represent something of a bipartisan consensus among a handful of crypto enthusiasts on the Hill that new legislation should shield the industry rather than crack down on it. In addition to his stablecoin bill, Gottheimer has co-sponsored legislation that would exempt crypto tokens from securities laws. The Securities and Exchange Commission has brought dozens of enforcement actions against digital asset issuers, prompting complaints of “regulation through enforcement” from industry players and their backers in Congress. Meanwhile, Sens. Cynthia Lummis (R-Wyo.) and Kirsten Gillibrand (D-N.Y.) are drafting a more comprehensive bill that would regulate stablecoins and other tokens as well. Crypto developers raising money through “initial coin offerings,” for instance, would have to register with the SEC just like any company selling stock to the public. Lummis said the bill would drop sometime this month. She said that if the rules she and Gillibrand envision had been in place, this month’s crash would not have happened. Lummis and Toomey are the only senators who own cryptocurrency assets, according to a review of disclosure forms by The Wall Street Journal . Lummis said that if she weren’t a senator, she would go out and buy more Bitcoin in the wake of last week’s nosedive. “You can buy it at a discount right now,” she said. Phillips has argued that existing banking and securities laws, which have been on the books since shortly after the great Wall Street crash of 1929, already cover most of what’s happening in the crypto industry. Securities laws require firms to disclose basic details about their business to potential investors; some crypto projects don’t even disclose the names of the people behind them. “Much of what’s out there is covered by these laws,” Phillips said. “It’s just that the laws weren’t being followed.” Igor Bobic contributed reporting. This article originally appeared on HuffPost and has been updated.
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 29083.80, 28360.81, 26762.65, 22487.39, 22206.79, 22572.84, 20381.65, 20471.48, 19017.64, 20553.27
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2020-11-25]
BTC Price: 18732.12, BTC RSI: 75.74
Gold Price: 1805.70, Gold RSI: 34.68
Oil Price: 45.71, Oil RSI: 70.02
[Random Sample of News (last 60 days)]
The Crypto Daily – Movers and Shakers – November 22nd, 2020: Bitcoin, BTC to USD, ended the day flat at $18,660.0 on Saturday. On Friday, Bitcoin had rallied by 4.73%. It was a bullish start to the day. Bitcoin rallied to an early morning intraday high and new swing hi $18,945.0 before hitting reverse. Falling short of the first major resistance level at $19,062, Bitcoin fell to a mid-day intraday low $18,323.0. Steering clear of the first major support level at $18005, Bitcoin briefly revisited $18,800 levels before easing back. The near-term bullish trend remained intact, supported by the latest move through to $18,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $9,709 to form a near-term bearish trend. The Rest of the Pack Across the rest of the majors, it was a bullish day on Saturday. Ripple’s XRP surged by a whopping 39.95% to lead the way. Bitcoin Cash SV (+16.00%), Cardano’s ADA (+12.69%), Chainlink (+9.81%), Ethereum (+8.35%), Polkadot (+10.33%), and Ripple’s XRP (+8.74%) also made strong gains. Binance Coin (+5.23%), Crypto.com Coin (+0.55%), Litecoin (+5.43%), trailed the front runners, however. In the current week, the crypto total market cap rose from a Monday low $445.47bn to a Saturday high $544.20bn. At the time of writing, the total market cap stood at $529.35bn. Bitcoin’s dominance rose to a Wednesday high 67.46% before sliding to an early Sunday low of 64.32%. At the time of writing, Bitcoin’s dominance stood at 64.95%. This Morning At the time of writing, Bitcoin was down by 0.95% to $18,482.0. A mixed start to the day saw Bitcoin rise to an early morning high $18,732.0 before falling to an early morning low $18,415.0. Bitcoin left the major support and resistance levels untested early on. Elsewhere, it was a bearish start to the day. At the time of writing, Ripple’s XRP was down by 5.45% to lead the way down. For the Bitcoin Day Ahead Bitcoin would need to move back through the pivot level at $18,643 to bring the first major resistance level at $18,962 into play. Story continues Support from the broader market would be needed for Bitcoin to break back through to $18,900 levels. Barring an extended crypto rally, the first major resistance level would likely cap any upside. In the event of another crypto breakout, Bitcoin could test resistance at $19,500 before any pullback. The second major resistance level sits at $19,265. Failure to move back through the $18,643 pivot would bring the first major support level at $18,340 into play. Barring another extended crypto sell-off, Bitcoin should steer well clear of sub-$18,000 levels. The second major support level at $18,021 should limit any downside. This article was originally posted on FX Empire More From FXEMPIRE: Natural Gas Price Prediction – Prices Consolidate Recent Losses The Weekly Wrap – COVID-19 and U.S Politics Drove Risk Sentiment Crude Oil Weekly Price Forecast – Crude Oil Continues to Grind Higher The Week Ahead – Private Sector PMIs, COVID-19, Brexit, and Capitol Hill in Focus Crude Oil Price Forecast – Crude Oil Continues to Find Resistance US Stocks Drift Lower in Reaction to Dwindling Financial Aid, Rising Virus Rates || Top Stock Reports for UnitedHealth, salesforce & GlaxoSmithKline: 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 UnitedHealth Group (UNH), salesforce.com (CRM) and GlaxoSmithKline (GSK). 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 >>>
UnitedHealthshares have outperformed the Zacks Medical Insurance industry in the year to date period (+13.4% vs. +5.5%). The Zacks analyst believes that the company’s top line is bolstered by new deals, renewed agreements and expansion of service offerings. Its numerous acquisitions bode well for its inorganic growth profile.
Expansion of the company’s health services segment provides significant diversification benefits. UnitedHealth remains well poised to benefit from its government business, comprising both Medicaid and Medicare Advantage. A solid balance sheet and consistent cash flow generation not only encourage investments in business but also add shareholder value.
The raising of 2020 earnings guidance instills investor confidence. However, the company is witnessing a slowdown in its international operations. Increased joblessness stemming from the COVID-19 induced volatilities might hurt Commercial membership.
(You canread the full research report on UnitedHealth here >>>)
Shares ofsalesforce.comhave gained +62.1% over the past year against the Zacks Computer Software industry’s rise of +33.9%. The Zacks analyst believes that salesforce is benefiting from a robust demand environment as customers are undergoing a major digital transformation.
The rapid adoption of its cloud-based solutions is driving demand for its products. salesforce’s sustained focus on introducing more aligned products as per customer needs is driving its top-line. Continued deal wins in the international market is another growth driver.
Furthermore, the recent acquisition of Tableau positions the company to be a leader in business analytics for actionable results in everything from operations to HR. However, stiff competition from Oracle and Microsoft is a concern. Besides, unfavorable currency fluctuations along with increasing investments in international expansions and data centers are an overhang on near-term profitability.
(You canread the full research report on salesforce.com here >>>)
Glaxo’s shares have lost -9.7% over the past six months against the Zacks Large Cap Pharmaceuticals industry’s rise of +1.2%. The Zacks analyst believes that several new drug/line extension approvals that are expected in 2021 would boost the company’s top line in the long term.
Glaxo’s new and specialty products like Nucala, Trelegy Ellipta, Shingrix and Juluca, are delivering a strong performance, making up for a decline in Established Pharmaceuticals due to generic erosion. Glaxo has made significant progress in its oncology pipeline and doubled its assets in development since 2018.
However, pricing pressure and competitive dynamics due to generic competition for key drug, Advair, are hampering sales of Glaxo’s respiratory products. Competitive pressure on HIV drugs has risen. Slowdown in vaccination rates hurt sales of its key vaccines, mainly Shingrix, in 2020.
(You canread the full research report on Glaxo here >>>)
Other noteworthy reports we are featuring today include Square (SQ), Blackstone Group (BX) and American Electric Power (AEP).
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
Mark VickerySenior Editor
Note: Sheraz Mian heads the Zacks Equity Research department and is a well-regarded expert of aggregate earnings. He is frequently quoted in the print and electronic media and publishes the weeklyEarnings TrendsandEarnings Previewreports. If you want an email notification each time Sheraz publishes a new article, pleaseclick here>>>
Solid Top Line & Strong Cash Flows Drive UnitedHealth (UNH)
Digital Transformation and Acquisitions Aid salesforce (CRM)
Glaxo's (GSK) Cancer Pipeline Grows Amid Rising Competition
Square (SQ) Banks on Solid Cash App Adoption, Bitcoin Growth
Per the Zacks analyst, Square is benefiting from strong Cash App engagement and its growing active customer base.
Investments Aid American Electric (AEP), Sales Decline Ails
Per the Zacks analyst, steady investments in its transmission and distribution business boost American Electric's customer reliability.
Fund-Raising Ability Aids Blackstone (BX), High Costs Ails
Per the Zacks analyst, Blackstone's fund raising capability and asset inflows will likely aid profitability. However, elevated costs and low dividend sustainability are major concerns.
General Mills (GIS) Gains From Coronavirus-Led Demand
Per the Zacks analyst, General Mills (GIS) is gaining from high demand due to coronavirus-led elevated at-home consumption.
Investments & Expanding Customer Base Aid Xcel Energy (XEL)
Per the Zacks analyst, Xcel's investment of $22.6 billion in the next five years to fortify infrastructure, while rising electric and natural gas customer base will boost demand and profitability.
Restructuring Aids Ameriprise (AMP), Asset Outflows a Woe
Per the Zacks analyst, Ameriprise's efforts to restructure the business and modify product offerings will support revenue growth.
Diversified Business to Aid Nordson (NDSN), Industrial Weakness Ail
Per a Zacks analyst, Nordson (NDSN) is poised to benefit from a diversified business structure, with exposure in various industries like packaging, electronics, non-wovens, and others.
Dow (DOW) Gains from Cost Actions, Project Investment
According to the Zacks analyst, Dow is well placed to benefit from cost synergy savings and productivity initiatives and its investment in high-return growth projects.
Robust EHR and EMR Platforms Continues to Aid Cerner (CERN)
Per the Zacks analyst, sustained strength in the lucrative EHR (Electronic Health Record) and EMR (Electronic Medical Record) platforms continue to boost Cerner's growth prospects.
Selective Insurance (SIGI) Premiums Aid, Cat Loss Woes Persist
Per the Zacks analyst, Selective Insurance gains from improved pricing and new business growth that in turn has been driving premiums. However, exposure to cat loss inducing earnings volatility ails.
SYNNEX (SNX) Benefits From Rising Remote Working Tool Demand
Per the Zacks analyst, SYNNEX is benefiting from the COVID-19 pandemic-led work-from-home and online-learning wave, which is spurring demand for offsite-working, and learning hardware and software.
Asset Sales, Low Retail Rent Receipts Concern Vornado (VNO)
Per the Zacks analyst, Vornado's aggressive asset sales might have a near-term dilutive impact on earnings. Also, amid the ongoing retail real estate blues, rent collection woes are likely to linger.
Dull Mineral Nutrition Arm & Forex Woes Ail Phibro (PAHC)
The Zacks analyst is worried about the persistently falling Mineral Nutrition arm's product sales. Unfavorable currency movements are an added headwind.
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 reportUnitedHealth Group Incorporated (UNH) : Free Stock Analysis ReportSquare, Inc. (SQ) : Free Stock Analysis ReportGlaxoSmithKline plc (GSK) : Free Stock Analysis Reportsalesforce.com, inc. (CRM) : Free Stock Analysis ReportBlackstone Group IncThe (BX) : Free Stock Analysis ReportAmerican Electric Power Company, Inc. (AEP) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research || Global Cryptocurrency Market (2020 to 2025) - Growth, Trends, and Forecasts: Dublin, Nov. 17, 2020 (GLOBE NEWSWIRE) -- The "Cryptocurrency Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering. Cryptocurrencies which are designed to use for peer-to-peer transactions without being liable to any government or central bank are the latest financial innovations explored not only for the reasons of their being but also for potential risks and opportunities in the financial industry. There are thousands of cryptocurrencies with various design goals. These design goals are to provide a digital currency alternative to cash (Bitcoin, Monero and Bitcoin cash), to support payment system at low-cost ( Ripple, Particl and Utility Settlement Coin),to support peer-to-peer trading activity by creating tokens ( RMG and Maecanas), to facilitate secure access to a good or service in peer-to-peer trading (Golem, Filecoin) and to support underlying platform or protocol ( Ether and NEO). These design goals mentioned won't be exhaustive as new cryptocurrencies are being created every week. Blockchain is the underlying technology for most of the cryptocurrencies. The cryptocurrency market is segmented based on the market capitalization of large number of cryptocurrencies. The cryptocurrencies overlap with key areas of monetary and financial system. Given their rapid growth, complexity, high volatility and potentiality for facilitating illicit activities, regulators and policy makers across the world are bothered about their inclusion into the existing system and revising the existing systems to fit them, if included. Key Market Trends A brief on the Volatility in the Market Capitalization of Cryptocurrencies The evolving nature of this market with new cryptocurrencies created every week it is difficult to know how big the cryptocurrency market is. A wide scope of market exchanges for cryptocurrency trading, spread across the globe because of their privacy protection features as well as rapid growth, extreme price volatility, and market illiquidity add to the complexity of the cryptocurrency market. The market capitalization of cryptocurrencies over the years shows how high the price volatility of the market is. The estimated cryptocurrency market capitalization, for example, during the month of January 2018, varied between 400 billion USD and 800 billion USD which was at 566 billion USD at the beginning of the year 2018 and finally settled at 128 billion USD by the end of the year 2018. In terms of transaction volumes, bitcoin alone had the highest number of 200,000 average daily transactions. Adoption of Blockchain Technology Increasing on a Robust Pace Enterprise adoption of the blockchain technology has quietly reached a tipping point across multiple use cases. Companies who have recognized value from their initial pilot projects are now moving towards turning these projects into production. Specifically there is still uncertainty about this technology in the areas of regulations and governance, but the adoption of blockchain for financial services, identity, trade and other markets are increasing. Global blockchain spending will be led by the banking industry followed by discrete manufacturing and process manufacturing with a combined market share of about 50% of overall spending. In the banking industry, the spending will be driven by two of the largest use cases - cross border payments & settlements and trade finance & post-trade settlements. Spending on blockchain solutions will be the highest in the United States followed by Western Europe and China. All the regions shown in the infographics are expected to see phenomenal growth in the coming years. Competitive Landscape The report includes different segments like coin product developers, mining services, cryptocurrency exchanges, wallet companies, etc along with a note on recent mergers and acquisitions that shaped the ecosystem. Reasons to Purchase this report: Story continues The market estimate (ME) sheet in Excel format 3 months of analyst support Key Topics Covered: 1 INTRODUCTION 1.1 Scope of the Market 1.2 Market Definition 2 RESEARCH METHODOLOGY 2.1 Study Deliverables 2.2 Study Assumptions 2.3 Analysis Methodology 2.4 Research Phases 3 EXECUTIVE SUMMARY 4 MARKET INSIGHTS AND DYNAMICS 4.1 Market Overview 4.1.1 A Brief on the Structure and Technological Aspects of Cryptocurrencies 4.1.2 Price Volatility of the cryptocurrency market 4.1.3 Market Capitalization of Major Cryptocurrencies 4.1.4 Rationale for widespread Crypto Mining Areas Across the Globe 4.2 Major Concerns for Policymakers About Cryptocurrencies 4.2.1 Effects of Cryptocurrency Market on Eonomic Efficiency and Growth 4.2.2 Impact on Financial Stability due to Cryptocurrenncy Adoption 4.2.3 Effects on Monetary Policy due to Cryptocurrency Adoption 4.2.4 Effects on Fiscal Policy due to Cryptocurrency Adoption 4.2.5 Probable ways of Taxation of Cryptocurrency Market 4.2.6 Cons of Cryptocurrency Adoption into Financial Ecosystem 4.2.7 Tools at the Disposal of Policymakers to Counter the Cons of Cryptocurrency Adoption 4.3 A Brief on Investment Outlook in Cryptocurrency Market 4.4 Latest Developments in the Cryptocurrency Market 4.5 Market Drivers 4.6 Market Restraints 5 MARKET SEGMENTATION AND ANALYSIS 5.1 Geography 5.1.1 Americas (United States, Canada, Latin America and Caribbean) 5.1.2 Europe 5.1.3 United Kingdom 5.1.4 Asia-Pacific 5.1.5 Middle East & Africa 5.2 By Design Goals 5.2.1 Digital Cash Coins 5.2.2 Payment Infrastructure Tokens 5.2.3 Securities Tokens 5.2.4 Utility Tokens 5.2.5 General Platform Tokens 5.2.6 Others 5.3 By Market Capitalization 5.3.1 Bitcoin 5.3.2 Ethereum 5.3.3 Ripple 5.3.4 Bitcoin Cash 5.3.5 Cardano 5.3.6 Others 6 COMPETITIVE LANDSCAPE 6.1 Overview (Market Concentration and Major Players) 6.2 Mergers & Acquisitions 6.3 Segments and Company Profiles 6.3.1 Coin Product Developers 6.3.2 Mining Services 6.3.3 Cloud for Bitcoin 6.3.4 Cryptocurrency Exchanges 6.3.5 Wallet Companies 6.3.6 Payment and Trading Solution Providers 6.3.7 Others 7 MARKET OPPORTUNITIES AND FUTURE TRENDS For more information about this report visit https://www.researchandmarkets.com/r/amzz4m Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research. 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 || IOVlabs and Grupo Sabra Announce "Extrimian": Blockchain Solutions for Businesses and Governments: GIBRALTAR / ACCESSWIRE / September 30, 2020 / IOVlabs, the parent company of Bitcoin smart contract platform RSK and its Infrastructure Framework (RIF), has partnered with Grupo Sabra, a solution company with proven track record implementing real-world enterprise blockchain applications, to create a new Joint Venture called Extrimian. The new company is offering a platform and ecosystem called RSK Enterprise Cloud aimed for governments, entrepreneurs and enterprises. Through it, they will be able to create their own decentralized applications (dApps), easily set up and administrate the technological stack required to connect the enterprise to decentralized networks and even to deploy consortium networks in minutes without hassle. Extrimian wishes to facilitate the mainstream adoption of blockchain technologies and to build digitized value networks. Thereby, saving time and money for businesses and governments, allowing them to focus on the core value of their dApps innovations and introducing efficiencies in app creation and infrastructure operations. The RSK Enterprise Cloud is a Blockchain-as-a-Service platform designed specifically for government and businesses of any size to develop decentralized solutions. Among its offerings are: Flexible connection : easily integrate the enterprise IT with decentralized networks and run everything, from Proof of Concepts to enterprise-grade blockchain applications. Ecosystem : accelerate development using powerful pre-integrated solutions and services from our ecosystem. Governance : implement a governance operating model for your Consortium Network in a few clicks using our "Governance-as-a-Service" platform Fully managed : shift resources away from platform operation with our multi-cloud, fully managed and world-class Blockchain-as-a-Service (BaaS). With the release of Extrimian, IOVlabs and Grupo Sabra intend to create a thriving ecosystem where developers, entrepreneurs, enterprises and governments grow together. It is combining the pillars of market access, i.e. sales partners and channels, the cloud and technology providers for infrastructure, and the solution and service providers via the marketplace. Story continues Diego Gutiérrez Zaldívar, CEO & Co-founder IOVlabs, said, "Extrimian gives businesses exposure to the benefits of blockchain technology without the complexity. It enables them to go to market quickly with a native application while tapping into the many benefits that DLT has to offer. We look forward to working with Grupo Sabra to onboard the next wave of enterprises, while lowering the barriers to broader blockchain adoption." Guillermo Villanueva, CEO of Extrimian & Co-founder of Grupo Sabra, said, "RSK Enterprise Cloud" is a platform created by developers for developers that comes as a result of more than six years implementing Blockchain projects within our enterprise and government customers. We faced all the complexity of working directly with the base blockchain protocols and realized that Extrimian was the missing piece to enable mainstream adoption." For more information on Extrimian please visit the official website at: http://www.extrimian.com/ About IOVlabs IOVlabs develops the blockchain technologies needed for a new global financial ecosystem that fosters opportunity, transparency, and trust. The organization currently develops the RSK Smart Contract Network , RSK Infrastructure Framework (RIF) and Taringa! 's platforms. The RSK Network is one of the more secure smart contract platforms in the world, designed to leverage Bitcoin's unparalleled hash power while extending its capabilities. RSK Infrastructure Framework (RIF) is a suite of open and decentralized infrastructure protocols that enable faster, easier and scalable development of distributed applications (dApps) within a unified environment. Taringa! is Latin America's largest Spanish speaking social network with 30 million users and 1,000 active online communities. For more information please visit: https://www.iovlabs.org/ About Grupo Sabra Established in 2009, Grupo Sabra is a blockchain solution company that provides infrastructure, technical components and services in order to deliver best in class decentralized solutions over Blockchain platforms. Grupo Sabra has a team of blockchain specialists with proven experience in projects deployed in production and currently generating business value in various industries. For more information please visit: http://www.gruposabra.com/ SOURCE: IOV Labs View source version on accesswire.com: https://www.accesswire.com/608451/IOVlabs-and-Grupo-Sabra-Announce-Extrimian-Blockchain-Solutions-for-Businesses-and-Governments || Bitcoin Price Breaks Above $16K for First Time in 3 Years: Bitcoin’s (BTC) stalled rally picked up the pace on Thursday, with prices reaching three-year highs above $16,000.
• The world’s top cryptocurrency by market capitalization clocked a high of $16,157 at 10:12 UTC, a price point last seen on Jan. 6, 2018.
• The move ended a week of consolidation in the range of $14,000 to $16,000.
• Bitcoin is now up 123% on a year-to-date basis and has gained nearly 50% so far this quarter, according toCoinDesk 20data.
• With the U.S. election in the rearview mirror, projected President-elect Joe Biden’s stance could have an influence on fiscal policy over the next four years, which could, in turn, affect inflation, against which bitcoin is touted as a hedge.
• “Against the backdrop of stimulus from the Federal Reserve, we expect investors holding cash to continue to allocate to bitcoin,” said Kyle Davies, co-founder of Three Arrows Capital.
• “The interest so far in 2020 has been primarily from institutions and we could see more retail participation when bitcoin breaks its previous all-time highs of $20,000,” Davies added.
• The cryptocurrency has recently received validation from several public companies and prominent investors as a store of value asset and isfacing a supply crunchdue to increased institutional participation.
• U.S. billionaire investor Stanley Druckenmillerdisclosedon Monday a bitcoin position and said bitcoin will outperform gold in the long run.
• Analysts also told CoinDesk the bitcoin pricemay consolidate for a short periodbefore moving toward $20,000 in December.
• Other top cryptocurrencies were also in the green withetherandlitecoinposting gains of between 1%-2% andOMGrising 8% on the day, according todata by CoinDesk 20.
See also:Lightning Operators Are Bracing for a Bitcoin Bull Run
Zack Voell andNikhilesh De contributed reporting.
• Bitcoin Price Breaks Above $16K for First Time in 3 Years
• Bitcoin Price Breaks Above $16K for First Time in 3 Years
• Bitcoin Price Breaks Above $16K for First Time in 3 Years
• Bitcoin Price Breaks Above $16K for First Time in 3 Years || ‘We Are Able to Get Things Done.’ Women Are at the Forefront of Nigeria’s Police Brutality Protests: A demonstrator stands atop a vehicle and shouts slogans as others carry banners while blocking a road leading to the airport in Lagos on Oct. 12, 2020. A demonstrator stands atop a vehicle and shouts slogans as others carry banners while blocking a road leading to the airport in Lagos on Oct. 12, 2020. Credit - Seun Sanni—Reuters Before Tuesday, the mood among #endSARS protesters in Lagos was optimistic. For more than two weeks, protesters across Nigeria have taken to the streets calling for an end to police brutality and the dissolution of the Special Anti-Robbery Squad (or SARS) police unit. But after violence on Tuesday night, which rights groups say left 12 people dead , many are afraid. “A lot of us at the forefront are terrified for our lives. We’ve never lived through anything like this in Lagos. We watched people get killed yesterday on social media,” says Jola Ayeye, a 28-year-old screenwriter based in Lagos. An on-the-ground investigation by Amnesty International confirmed Wednesday that the Nigerian army and police killed at least 12 peaceful protesters in two Lagos suburbs the previous evening, as thousands of people protested against police brutality as part of the #EndSARS movement. Witnesses said several unarmed, peaceful protesters were shot dead at Lekki toll gate in Lagos, Nigeria on Oct. 20, as video footage emerged on social media appearing to show the Nigerian military firing live rounds at a crowd protesting as part of the #endSARS movement. Eyewitnesses at a separate protest site in Alausa told Amnesty International that they were attacked by a team of soldiers and policemen, leaving at least two people dead and one critically injured. At least 56 people have died across the country since the nationwide protests began on Oct. 8, with about 38 killed on Tuesday alone, according to Amnesty International. Read More: The Nigerian Army Shot Dead at Least 12 Peaceful Protesters in Lagos, Rights Group Says. Here’s What to Know The SARS unit has been the target of protests since 2017, but protesters say this latest wave is different than what came before. The movement is leaderless but driven by a younger generation of Nigerians, tired of being profiled by SARS operatives, who often carry out violent ambushes in plain clothes with little impunity. An Amnesty International report earlier this year documented at least 82 cases of torture, ill treatment and extra-judicial execution by SARS between January 2017 and May 2020, mostly targeting young men between the ages of 18 and 35. Although the Nigerian government announced that the SARS unit would be disbanded on Oct. 11, protesters are skeptical that will lead to real change—authorities have made and broken several promises regarding the disbandment and reforms of SARS over the past four years. Story continues Protesters gather at Lagos' Lekki toll gate during a demonstration against police brutality on Oct. 15, 2020. Pierre Favennec—AFP/Getty Images Nigerian DJ Obianuju Catherine Udeh, better known as DJ Switch, livestreamed on Instagram from Lekki on Tuesday evening and filmed the army shooting rounds of live fire at crowds. “Every Nigerian, especially [those in] the diaspora who had no other way to witness this, owes this woman everything,” says London-based Onis Chukwueke-Uba, 25, who was one of more than 150,000 Instagram users watching DJ Switch’s live video as events unfolded in Lagos. DJ Switch is one of many women on the frontlines of these protests, which began in early October and are among the most widespread wave of protests in Nigeria campaigning against police brutality . Ayeye, and her podcast co-host Feyikemi Abudu, both based in Lagos, have also become a core part of Nigeria’s protest movement against police brutality, helping spread information on Twitter, raising and distributing funds for protesters and organizing security, medical assistance and legal aid. “This is the first time, at least in my lifetime here, that people are saying ‘ enough is enough ’,” says 27-year-old Abudu, who currently runs a start-up. She began fundraising a few days after the nationwide protests started on Oct. 8, wanting to provide breakfast for protesters in Lagos. Read More: “I Really Thought My Life Was Going to End.’ Inside the Protests Taking on Police Brutality in Nigeria “Young women are having a critical role in sustaining this movement, and young people across Nigeria feel like leaders in their own right,” says Oluwaseun Ayodeji Osowobi, a womens’ rights activist who was on last year’s TIME 100 Next list. Osowobi’s organization, Stand to End Rape, has been providing mental health support for protesters on the front line. As a service-provider helping young women survivors recover from gender-based violence, she knows first-hand the trauma SARS has inflicted on Nigeria’s young people. “Nobody is really safe. I know mothers who have lost their children, I know women who have been raped by these people, I know those who have died, so I have a responsibility too to make sure I fight for the rights of young Nigerians,” she says. Abudu and Ayeye recall speaking about their frustrations with SARS on their podcast in 2017, during the first wave of campaigns against the unit. They didn’t imagine that three years later, they would be helping organize a support system for protesters, fielding calls in the middle of the night, and directing participants to safety via social media. “We joke that Feyikemi has built a state in ten days,” says Ayeye, referring to volunteers that have come together to organize food, medical assistance and legal aid to support protesters. “The organization and bravery of women really underpins this whole movement,” she says. Nigeria has a history of women organizing protests . Aisha Yesufu, 46, was a co-organizer of the Bring Back Our Girls movement that called for the safe return of the Chibok schoolgirls kidnapped by Boko Haram in 2014. She says she is proud of the young women who have mobilized during this protest movement. “The Bring Back Our Girls movement was a protest of empathy. #endSARS is more about survival. These are young men and women who are being killed by those who are supposed to protect them, and who are fighting for their life,” says Yesufu, whose photo with her fist raised at the forefront of protests in Abuja on Oct. 10 has been shared widely as a symbol of the protests. Both Abudu and Ayeye, as well as Osowobi, are part of Feminist Coalition , a collective of Nigerian women who formed in July 2020 to work around feminist causes and the advancement of women’s rights in Nigeria. The group has been instrumental in fundraising to support the protesters on the ground through Bitcoin donations, and has issued daily reports of the money they’ve raised and distributed to ensure accountability. As of Oct. 19, the group had raised more than 74 million naira, equivalent to almost $200,000. All three women are hoping that their activities during the protests could improve things for women in the country more broadly, as well greater equality for other marginalized groups, including LGBTQ people who have experienced hostility and homophobia during protests. “It is incredible for me because especially in this country, where a lot of people have these backwards views about women in leadership positions, I’m hoping this will allow people to see that you need women at the top, at every level of society,” Abudu says. “Simply, we are able to get things done.” Dear @jack thanks for supporting our #EndSARS #EndSWAT plight. Have you met the stallion @AishaYesufu ? We call her the 🇳🇬 Statue of Liberty. On behalf her teeming fans. I request that you verify her account. Thanks in advance.😁 Comrades, RT if you’re with me. pic.twitter.com/jSSE85QMPU — WizkidtheGreatest 🐐 (@WizkidtheLegend) October 14, 2020 All are reeling from the shock of the deaths at Lekki and Alausa on Tuesday night. Yesufu says she is numb, and Ayeye and Abudu say they are afraid for the dead and injured protesters in their city. The Feminist Coalition is now helping support injured protesters , as well as encouraging others to stay safe and stay at home . There is also fear among protesters that the government will try to change the narrative of events. Witnesses told Amnesty International that shortly before the shootings, CCTV cameras at the Lekki toll gate were removed by government officials and the electricity was cut in an attempt to hide evidence. Abudu and others have been encouraging protesters on social media to document what happened to them to ensure the truth about what happened at Lekki is told. “Something has to give,” Ayeye said via WhatsApp on Wednesday. “We cannot keep living like this.” || Elon Musk Tweets 'Caution' On SPACs As Tesla Rivals Go Public: A Forbes cover story called "How SPACS Became Wall Street Money Tree" highlights some of the negatives of the SPAC industry.Tesla Inc(NASDAQ:TSLA) CEO Elon Musk tweeted in response to the article.
What Happened:The article from Forbes highlights some former SPACs likeWaitr Holdings(NASDAQ:WTRH) andMultiplan Corporation(NYSE:MPLN) trading below $10 and other newer SPACs with red flags.
Why It’s Important:Musk has over 40 million followers on Twitter. He is well respected by investors and has a cult-like following.
There are a number of companies considered Tesla rivals that have or will go public via the SPAC route.
Fisker Inc(NYSE:FSR) andLordstown Motors(NASDAQ:RIDE) are building competing electric vehicles to Tesla.
Hyliion Holdings Corp(NYSE:HYLN) andNikola Corporation(NASDAQ:NKLA) are both working on electric and hydrogen-powered Class 8 trucks that would compete with the upcoming Tesla Semi.
Related Link:Will The Real Elon Musk Please Stand Up: Another Twitter Bitcoin Scam
Canoo, going public viaHennessey Capital Acquisition(NASDAQ:HCAC) will offer an electric vehicle subscription service.
QuantumScape, going public viaKensington Acquisition Corp(NYSE:KCAC),Eos Energy Enterprises(NASDAQ:EOSE) andRMG Acquisition Corp(NYSE:RMG) target Romeo Power are all companies competing in the battery market with Tesla.
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• Tesla's S&P 500 Inclusion Could Move Elon Musk Up Billionaire Ladder
© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Silicon Valley Payments Company Ripple's Cryptocurrency XRP Up 133% In A Week: San Francisco-basedRipple Labs Inc.’snative ecosystem cryptocurrency XRP has added 132.88% over a trailing seven-day period at press time.
What Happened:XRP supports Ripple’s blockchain-based payment network for financial institutions. Its surge comes amid overall cryptocurrency market strength.
Nevertheless, XRP has significantly outperformedBitcoin(BTC) and other major digital assets. Bitcoin is up 9.96% over the same period at press time. Ethereum (ETH), the world's second-largest cryptocurrency in terms of market capitalization, is up 32.6% in the trailing seven-day period at press time.
What’s Driving The Surge:Joseph Young notes forCointelegraphthat XRP’s surge comes based on three factors, including an increase in unique XRP addresses, Ripple's buyback of its cryptocurrency, and reported plans for the launch of a new product.
Ripplereportedrepurchasing XRP worth 45.5 million in the third quarter this year. The company alsofileda trademark with the U.S. Patent and Trademark Office for "Paystring," a product related to receiving and sending remittances, earlier this month.
Price Action:XRP traded 47.8% higher at $0.68 at press time early Tuesday.
Photo courtesy of Ripple
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© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || US Firm Launches Company-Sponsored Bitcoin Retirement Plans: After running a year-long test, Digital Asset Investment Management (DAiM), a U.S.-based crypto investment adviser, has launched what it says are the first company-sponsored retirement plans supporting bitcoin.
DAiM will serve as an adviser and fiduciary while helping companies create a 401(k) plan that allows a maximum allocation of up to 10% inbitcoinalongside varying degrees of exposure to traditional assets, according to anannouncementThursday.
Cryptocurrency associated with the Employee Retirement Income Security Act (ERISA)-compliant plans will be held in New York-regulated Gemini Trust’s cold storage custody.
Related:Market Wrap: Bitcoin Hits $18.8K as Total Crypto Locked in DeFi Passes $14B
“From the moment we were approved by the State of California in June 2018, we’ve seen incredible inbound demand from individuals eager to invest bitcoin in 401(k)s,” DAiM said in the announcement, adding that conventional plans’ inability to keep up with inflation is a bad deal for savers.
Individuals can choose to take a bigger exposure to bitcoin following a consultation with DAiM and will be able to transfer pension bitcoins in the event of a job switch. Companies can switch to the bitcoin plans from their current provider if desired.
Firms interested in offering the new product to employees in 2021 need to put the plan in place by mid-December 2020, DAiM said.
Also read:Morgan Creek CEO Says Bitcoin Doing ‘Extremely Well’ Due to Fed Reserve’s Dollar Devaluation
Related:10 Metrics Where Bitcoin Has Already Hit New All-Time Highs
“We believe [b]itcoin has demonstrated it has a place in the modern portfolio and individuals should have an opportunity to ‘Get Off Zero’ and invest directly through their retirement account,” the company said.
Bitcoin has received validation as an inflation-hedge and reserve asset from severalpublic companiesandprominent investorsthis year.
• US Firm Launches Company-Sponsored Bitcoin Retirement Plans
• US Firm Launches Company-Sponsored Bitcoin Retirement Plans || MobiePay Hits Funding Target Following Successful TrustSwap Launch: On October 3,MobiePaycompleted a successful launch of its MobieCoin (MBX) token on the TrustSwap Launchpad, hitting its final round funding target of $900,000.TrustSwapis a peer-to-peer decentralized finance layer, developed to provide a trustless and automated alternative for payment systems that were previously reliant on intermediaries such as escrow services, lockups, and other custom transactions.
MobiePay’s universal payments and blockchain-based rewards ecosystem is being developed to allow users to spend or send both fiat and crypto transactions nearly instantly from a mobile phone. MobiePay intends to provide a simple tap-to-pay solution targeted for use anywhere GooglePay or ApplePay are accepted. It is being integrated with Stellar, Ethereum, Bitcoin, and the Lightning Network, with additional fiat on/off ramps and digital assets to come. Its leadership team includes formerJP Morgan Chase & Co(NYSE:JPM), SEC,Wells Fargo & Co(NYSE:WFC),Morgan Stanley(NYSE:MS), and Marqeta executives.
TrustSwap Launchpad
TrustSwap Launchpadis providing a new, full-service standard for token launches through a new form of fundraising called Trusted Coin Offerings (TCOs). Trusted Coin Offerings differ from ICOs and IEOs in a number of important ways. The most significant changes are:
• Team token lockups are vested over time.
• Team payments are made following the successful completion of milestones, or are refunded to investors if they are not.
• Investor token time-based distribution releases for a reduced likelihood of liquidation.
• Early priority access to presales for TrustSwap SWAP token holders.
TCOs aim to put the trust back into crowdfunding in a manner that allows a new wave of investors to enter the cryptosphere with confidence.
A Slingshot to Growth
The Launchpad enables ambitious blockchain projects to leverage both the potential of the TrustSwap protocol and the community that has built up around it. MobiePay became one of the first blockchain projects to utilize its trustless escrow, time-release and smart swap services, providing greater confidence in its offering to the community and authentic public engagement.
MBX listed at $0.0016 per token, with participants vesting tokens at a 10% unlock following exchange listing, then 15% per month. In connection with the launch, 1% of the total MBX supply will also get distributed to SWAP token holders.
Commenting before the launch, a MobiePay representative said: “We’re proud to be selected as one of the early projects to utilize the TrustSwap Launchpad, and will be raising $900,000 in total, with a $2,500 allocation per person. This will allow a larger portion of the TrustSwap community to participate in the launch, and provide us with the capital to take MobiePay to the next level.”
Trusted Coin Offering
At this point in time, a TCO is not open to just anyone. To participate, an Ethereum compatible wallet with a TrustSwap DASH score of over 2,000 must be connected to the platform. TheDASH scoreis intended to recognize support from SWAP holders, not just in terms of the tokens held or staked, but also the amount of time, calculating a fair average daily SWAP holding figure. For jurisdictional compliance purposes, KYC/AML documents were required by MobiePay as part of the automated process they built-in using the TrustSwap Launchpad.
As theMBX token is Stellar-based, a Stellar blockchain wallet was also required to receive the MBX tokens, with participants directed to LOBSTR to create one if necessary. Once the information was all submitted, the automated system validated and approved participation within 10 minutes, simultaneously handling the time-based distribution release, set up using the underlying TrustSwap protocol. Following the successful raise of MobiePay, those extra safeguards and procedures are proving a tolerable trade-off for the more cautious and security-conscious investors.
Disclaimer:The author of this post has a personal relationship with MobiePay team members. 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.
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[Random Sample of Social Media Buzz (last 60 days)]
None available.
|
Trend: up || Prices: 17150.62, 17108.40, 17717.41, 18177.48, 19625.84, 18803.00, 19201.09, 19445.40, 18699.77, 19154.23
|
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 2022-12-09]
BTC Price: 17133.15, BTC RSI: 49.77
Gold Price: 1798.10, Gold RSI: 65.23
Oil Price: 71.02, Oil RSI: 30.03
[Random Sample of News (last 60 days)]
FOREX-Dollar slips as German bund yields strengthen euro: (Adds late-day prices, comment on Bitcoin, Ether plunge) By Herbert Lash NEW YORK, Nov 8 (Reuters) - The dollar slid on Tuesday as rising German bond yields strengthened the euro, but a strong reading of the consumer price index later this week could reverse the currency's slide. Traders kept an eye on U.S. midterm elections, whose outcome may usher in an era of divided government in Washington that would likely foil big social spending plans by Democrats. A steady climb in German bond yields weakened the dollar on expectations of further European Central Bank tightening, which cut the spread with Treasury yields, said Marc Chandler, chief market speculation at Bannockburn Global Forex. "I've played down the elections. For monetary and fiscal policy, I don't think it's much of a difference," he said. "What I'm focusing on today is a huge move in two-year German bunds. It's not about the Fed, it's about more aggressiveness from the ECB." The yield on the two-year bund rose to 2.196%, a 25-basis-point gain from a week ago. CPI data is due to be announced on Thursday, with economists forecasting the monthly and annual core numbers to advance 0.5% and 6.5%, respectively. Signs of improving inflation, though, might not slow the Federal Reserve's policy tightening that federal fund futures forecast will peak at 5.095% in June 2023. "Inflation is going to moderate some more, but the service sector might not be giving us enough pricing relief," said Ed Moya, senior market analyst at OANDA. "Once we've fully priced in peak Fed tightening, then you'll see a major reversal. A lot of people are trying to get ahead of that and they've been trying to do that all year and they've been getting burned." The euro rose 0.55% to $1.0074, while the Japanese yen strengthened 0.75% against the dollar at 145.55. The Fed could raise interest rates by 50 basis points when policymakers meet in December, again by the same amount in February and another 25 basis points at their March meeting, Moya said. The interest rate differential with other currencies favors dollar strength, as do potentially severe recession risks abroad and China's ongoing struggles with COVID restrictions, he said. Cryptocurrencies Bitcoin and Ether plummeted on contagion concerns after crypto exchange Binance signed a nonbinding agreement to buy rival FTX's non-U.S. unit to help cover a "liquidity crunch." If speculation that FTX's token FTT are being used as collateral prove true, there will be a similar domino effect as seen earlier this year with Luna, said Charles Hayter, chief executive and co-founder of data firm CryptoCompare. But Joe DiPasquale, CEO of BitBull Capital, doubted bitcoin faces an extreme scenario. "It could see increased inflows as market participants withdraw from riskier assets," he said. Bitcoin fell 11.13% to $18,299.00 after earlier hitting its lowest since November 2020 at $17,114.0. Ether plunged 16.23% to $1,313.70. ======================================================== Currency bid prices at 4:28PM (2128 GMT) Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid Previous Change Session Dollar index 109.5700 110.2100 -0.56% 14.537% +110.6200 +109.3600 Euro/Dollar $1.0076 $1.0017 +0.59% -11.37% +$1.0096 +$0.9972 Dollar/Yen 145.5450 146.6350 -0.74% +26.44% +146.9300 +145.3150 Euro/Yen 146.66 146.91 -0.17% +12.54% +146.9900 +146.0000 Dollar/Swiss 0.9853 0.9887 -0.33% +8.03% +0.9927 +0.9838 Sterling/Dollar $1.1547 $1.1516 +0.23% -14.65% +$1.1598 +$1.1430 Dollar/Canadian 1.3427 1.3492 -0.45% +6.22% +1.3527 +1.3387 Aussie/Dollar $0.6506 $0.6482 +0.36% -10.51% +$0.6551 +$0.6445 Euro/Swiss 0.9928 0.9903 +0.25% -4.25% +0.9936 +0.9883 Euro/Sterling 0.8723 0.8700 +0.26% +3.85% +0.8744 +0.8692 NZ $0.5962 $0.5941 +0.32% -12.92% +$0.6000 +$0.5899 Dollar/Dollar Dollar/Norway 10.2215 10.2140 +0.07% +16.02% +10.3160 +10.1790 Euro/Norway 10.3008 10.2324 +0.67% +2.88% +10.3305 +10.2356 Dollar/Sweden 10.7504 10.8316 -0.21% +19.21% +10.8958 +10.7160 Euro/Sweden 10.8356 10.8580 -0.21% +5.85% +10.8850 +10.8098 (Reporting by Herbert Lash, additional reporting by Hannah Lang in Washington and Alun John in London; Editing by Himani Sarkar, Ed Osmond, Tomasz Janowski and Mark Heinrich and Jonathan Oatis) || This week in the metaverse: NFT prices volatile after FTX implodes, Capital One files for Web3 trademarks, and Wrangler teams up with Deadfellaz: Welcome to This Week in the Metaverse, where Fortune rounds up the most interesting news in the world of NFTs, culture, and the metaverse. Email [email protected] with tips.
Thefailed Binance and FTX dealand thecontinued unraveling of the lattersent crypto prices tumbling, but its effect on NFTs has been something of a mixed bag.
Early on Thursday, less than a day after the FTX and Binance deal fell through, blue-chip NFT collections were down about 15%, according to DappRadar Head of Research Pedro Herrera. Some collections like Bored Ape Yacht Club and Mutant Ape Yacht Club fell by double digit percentage points.
By early Friday, though, those collections had rebounded in a major way, with CryptoPunks emerging as the biggest winner. The Yuga Labs collection surpassed Yuga’s other flagship collection Bored Ape Yacht Club as the most valuable on the market, with a 24% increase in its price floorto about $85,100 over 24 hours. Meanwhile, the lowest price for a Bored Ape jumped 12%to about $77,700over the same period, according to DappRadar.
While CryptoPunks were once the most expensive NFT collection, Bored Ape Yacht Club took over that distinction in December. Now, CryptoPunks has recovered its crown—at least for the moment.
Compared to top cryptocurrencies Bitcoin and Ether, NFTs have better resisted the headwinds of theFTX debacle. As of Friday morning, theprice of one Bitcoin was about $17,300, up about 5% but still trading at a level not seen since 2020. Ether wasup about 7% to $1,300.
Still, the NFT world is facing its own controversy. More and more marketplaces have eliminated required royalty payments, which give the original creators of an NFT a portion of every sale, and some digital artists are not happy.
Just this week, FEWOCiOUS,XCOPY, andSeneca, the artist behind the Bored Ape Yacht Club art, spoke out in favor of royalties.
FEWOCiOUS, whose real name is Victor Langlois, put it clearly in a tweet: “Royalties were the reason the art community flocked to NFTs in the first place.”
https://twitter.com/fewocious/status/1589710002545397760
The protests from creators have already made some headway with the most popular NFT marketplace, OpenSea, which said itwould continue to enforce royaltieson its collections after previously saying it was reconsidering its policy.
Capital Onefiled eight trademark applications for NFTs and NFT-backed media as well as debit and credit card services in the metaverse, according to a tweet bytrademark attorney Mike Kondoudis. The company also could provide financial services and other events in the metaverse in the future, according to its filing.
In partnership with the NFT collectionDeadfellaz, apparel and jeans makerWrangleron Fridayreleaseda dark denim Wrangler jacket covered in Deadfellaz graffiti and a black T-shirt celebrating The Horde, the tight-knit Deadfellaz community. The Deadfellaz NFT collection features 10,000 undead NFTs owned by celebrities like NFL playerOdell Beckham Jr.andReese Witherspoon.
SuperRare Labs announced RarePass, a set of 250 passes to beauctioned off on Nov. 15that will give buyers airdropped NFTs and special perks on theSuperRareNFT marketplace. For one year, the RarePass holders will get one airdrop per month from 12 artists who will create a series of 250 unique works, one for each pass holder. The artists include XCOPY, Pindar Van Arman, Coldie, Matt Kane, Krista Kim, Carlos Marcial, Other World, OSF, Robness, Helena Sarin, Anne Spalter, and Sarah Zucker. Six passes will be given away randomly, with two going to existing collectors, two to existing artists, and a final two to existing $RARE token holders.
DRESSX, an app that serves as a “Metacloset'' of digital-only clothes, relaunched its app this week to give users the ability to connect aMetaMaskwallet and try on NFT digital clothing purchased fromits marketplacefor free by using augmented reality.
This story was originally featured onFortune.com
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I had to be an overachiever to escape homelessness and land a six-figure tech job. Here’s what I think about quiet quitting. || Elon Musk Reveals Talks With Sam Bankman-Fried: 'My Bullshit Meter Was Redlining': Elon Musk didnt waste any time jumping into the Twitter fray after an apparent hack of bankrupt crypto lender FTX drained hundreds of millions of dollars from company-controlled wallets. Just a couple of hours after the apparent hack began late Friday night, Musk tweeted FTX meltdown/ransack being tracked in real-time on Twitter. He also responded to a post by crypto entrepreneur Sam Altman with a raunchy meme of former FTX CEO Sam Bankman-Fried. Around 2:30 am EST on Saturday morning, Musk joined a Twitter Space with over 60,000 listeners to discuss the hack of FTX and share his thoughts on Bankman-Fried. To be honest, Id never heard of him, Musk said. But then I got a ton of people telling me [that] hes got, you know, huge amounts of money that he wants to invest in the Twitter deal. And I talked to him for about half an hour. And I know my bullshit meter was redlining. It was like, this dude is bullshit that was my impression. Then I was like, man, everyone including major investment banks everyone was talking about him like hes walking on water and has a zillion dollars. And that [was] not my impression
that dude is just theres something wrong, and he does not have capital, and he will not come through. That was my prediction, Musk added. Musk also told listeners that they should keep their crypto in cold wallets, not in exchanges. I would reaffirm that, if you have crypto, you should have it in a directly-accessible cold wallet. Not in an exchange, Musk said. That would be wise. The spectacular collapse of FTX until this week one of the largest and seemingly most regulated exchanges in the world hasnt turned Musk off crypto as a whole. I think there probably is a future for Bitcoin, Ethereum, and DOGE. I cant really speak to the others. But if youve got one of those three in a cold wallet, and off an exchange, I think my guess is it works out well, he said. || 3 Under-the-Radar Tech Stocks With 35% Upside Potential: Under-the-radar tech stocks present big opportunities for growth. These stocks have been hammered as a result of the bear market. This presents a unique opportunity for savvy investors to buy low and watch their investments grow over time. Although there may be more risk involved with under-the-radar tech stocks, the potential rewards are greater. After a little research, you’ll find plenty of investment options to help you meet your financial goals. There are always new names to watch in the stock market, especially in the tech sector. Here are three under-the-radar tech stocks that you should keep an eye on: InvestorPlace - Stock Market News, Stock Advice & Trading Tips CRWD Crowdstrike Holdings $145.98 ORCL Oracle $64.31 ZS Zscaler $135.31 CrowdStrike Holdings (CRWD) A sign with the Crowdstrike (CRWD) company logo Source: VDB Photos / Shutterstock.com TipRanks 12-Month Consensus Price Target: $236.64 Crowdstrike Holdings (NASDAQ: CRWD ) is a cybersecurity company that went public in 2019. It has seen strong growth in recent years, with its revenue increasing from $52.75 million in 2017 to $1.5 billion in 2022. The growth is not surprising, especially considering the size of the cybersecurity market. Per a report from Statista , revenue in the cybersecurity market is predicted to reach $159.80 billion in 2022. It is expected to increase by 13.33% per year until 2027, building a total of $298.70 billion from 2022 to 2027. CrowdStrike has a tiny slice of this market, so there’s a lot of room for growth. For now, the cybersecurity company is executing well on its strategy. You can look at their fiscal 2023 second-quarter results to confirm that. CrowdStrike reported a 58% year-over-year increase in revenues to $535 million. CrowdStrike’s subscription revenue went up 60% over the last year to $506 million, accounting for 95% of its total revenue. In addition, the 1,741 new subscriptions are an impressive jump from last year. CrowdStrike’s total count of subscription customers now stands at nearly 20,000. Story continues CrowdStrike’s success is a big win for the company’s founder and CEO, George Kurtz, who has bet his career on the vision that CrowdStrike would become a leading cybersecurity player. With its strong quarterly results, CrowdStrike is well on its way to achieving Kurtz’s vision. With the global economy increasingly reliant on digital infrastructure, demand for CrowdStrike’s services will continue to grow. As a result, the company is one of a handful of under-the-radar tech stocks poised for breakout growth in the years to come. Oracle (ORCL) The Oracle (ORCL) sign hangs on an Oracle office in Deerfield, Illinois. Source: Jonathan Weiss / Shutterstock.com TipRanks 12-Month Consensus Price Target: $90.05 One name that often comes up when discussing under-the-radar tech stocks is Oracle (NYSE: ORCL ). However, the company has consistently delivered a strong performance. Oracle has a strong market position in enterprise software, and the company is expanding its reach into new markets such as cloud computing and artificial intelligence. In particular, a pivot to cloud computing has paid off handsomely. Oracle’s earnings came in at $1.03 per share for the period ending August 31. Its cloud services and licensing support operation pulled in $8.42 billion, while overall revenues were $11.45 billion. According to Oracle, earnings would have been 8 cents higher without the strong dollar. Oracle’s CEO Safra Catz revealed the company’s growing applications, and infrastructure cloud business now accounts for 30% of its total revenue. She predicts that cloud businesses will become a larger and larger portion of the overall business, which should lead them toward double-digit growth. Looking ahead, Oracle is expecting earnings per share from $1.16 to $1.20, paring with an anticipated 15-17% increase in revenues or 21-23% if you decide to use the constant currency basis. In addition, we’ve already seen a huge impact from Oracle’s $28 billion acquisition of health-record software maker Cerner. Just in the last quarter, it contributed $1.4 billion to operations. Catz believes the Cerner acquisition will positively affect revenue and EPS growth in future quarters. Oracle has never reduced its dividend in 13 years and has been on a payout raise streak for nine years. The current yield is low at 1.96%. But there’s a lot of room for this number to grow since the Oracle payout currently stands at 57% Zscaler (ZS) Zscaler (ZS) logo on a corporate building Source: Sundry Photography / Shutterstock.com TipRanks 12-Month Consensus Price Target: $220.71 Zscaler (NASDAQ: ZS ) is a leading cloud service company that provides security, analytics, and management tools. Its range of security solutions includes web security, email security, mobile device management, and data protection. Zscaler is one of the hottest under-the-radar tech stocks on the market. The company’s platform provides enterprises with a secure web gateway, mobile security, and firewall capabilities. Over 6,700 customers use Zscaler’s platform. Zscaler provides an essential service in the cloud age: security. The need for secure cloud services will only increase as more devices are connected to the internet and rely on remotely hosted applications. As a result, Zscaler’s business thrives during periods of economic recession because its clients want protection from cyberattacks even if there is no demand within these times. Zscaler is also growing rapidly, with revenue increasing by 61% year-over-year in fiscal 2022, which ended July 31. Zscaler’s strong growth prospects and market-leading platform make it one of the most exciting under-the-radar tech stocks to watch. On the publication date, Faizan Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines . Faizan Farooque is a contributing author for InvestorPlace.com and numerous other financial sites. Faizan has several years of experience in analyzing the stock market and was a former data journalist at S&P Global Market Intelligence. His passion is to help the average investor make more informed decisions regarding their portfolio. More From InvestorPlace Buy This $5 Stock BEFORE This Apple Project Goes Live The Best $1 Investment You Can Make Today Early Bitcoin Millionaire Reveals His Next Big Crypto Trade “On Air” It doesn’t matter if you have $500 or $5 million. Do this now. The post 3 Under-the-Radar Tech Stocks With 35% Upside Potential appeared first on InvestorPlace . || Markets: Bitcoin, Ether slip amid muted performance of top 10 cryptos; XRP leads gains: The crypto market continued its sluggish performance during Thursday evening trading in Asia, with Bitcoin and Ether lower and XRP’s 0.63% rise marking the biggest gain among the top 10 cryptocurrencies by market capitalization, excluding stablecoins.
See related article:Japan eases token vetting process to expand crypto offerings: report
• Bitcoin fell 0.35% in the past 24 hours to trade at US$19,145.26 at 4 p.m. in Hong Kong, now just 0.76% above its US$19,000 support line. Ether slipped 0.43% to US$1,292.02, according todata from CoinMarketCap.
• XRP rose by 0.63% to change hands at US$0.46, the most significant gain in the top 10 crypto, while Cardano fell 1.07% to US$0.35 and Polygon dropped 1.92% to US$0.84. Solana was the top 10’s biggest loser, slumping 2.42% to US$29.23.
• Uniswap, the 12th largest coin by market capitalization excluding stablecoins, rose 0.14% to US$6.49 after its chief operating officer Mary-Catherine Lader promoted the future of decentralized exchanges in business magazine Fortune, and following a strong funding round last week to raise Uniswap Lab’s valuation.
• Asia equity markets dropped after Wall Street fell overnight. The Shanghai Composite Index inched 0.31% lower, the Nikkei 225 lost 0.92% and the Hong Kong Hang Seng Index declined 3% to its lowest since May 2009, before rallying in the final hour of trade to close 1.4% down.
• Unemployment in Australia for September remained unchanged on the month at 3.5%, according to theAustralian Bureau of Statistics. In the U.S., asurveyby Qualtrics International conducted across August-September revealed that 57% of American workers want the opportunity to work overtime or extra shifts, given the rising cost of living, 38% have actively sought an additional job and 14% plan to do so.
See related article:Hong Kong digital asset firm sets up US$50 mln fund to expand mining business amid crypto winter || Bitcoin Rebounds to Over $19K After Plunge Triggered by Hot Inflation Report: Bitcoin rebounded to above $19,000 on Thursday in a wild day of trading that earlier saw the largest cryptocurrency dive after a hotter-than-expected U.S. inflation report.
Analysts were at pains to explain the logic of the move, because theConsumer Price Indexreport theoretically puts additional pressure on the Federal Reserve to keep ratcheting monetary policy tighter – usually a negative factor for prices of risky assets from stocks to cryptocurrencies.
U.S. stocks staged a comeback as well, and investors in traditional markets said it was possible that the negative news had already been accounted for by traders.
As of press time, bitcoin (BTC) was up 0.2% over the past 24 hours to about $19,100. In the minutes after the inflation report at 8:30 a.m. ET (12:30 UTC), the price tumbled to $18,198 – its lowest since Sept. 21 – but has been mostly climbing in the hours since. TheCoinDesk Market Indexis down 1.1%.
Read More:US Consumer Price Index for September Could Provide Push for Bitcoin to Break Out of Its Recent Range
“The (CPI) number came in quite close to expectations and thus had been largely priced in ahead of time,” said Riyad Carey, a research analyst at crypto data firm Kaiko.
Ether (ETH) followed a similar trajectory on Thursday as BTC, plunging during the early U.S. trading hours and then recovering by midday. As of press time, it was off 0.9% to $1,280.
Thursday’s trading saga began when theLabor Department released its CPI report, showing that the inflation index rose 8.2% in September, which was faster than the 8.1% forecasted by economists.
Some market watchers homed in on a more striking figure – the "core" CPI that excludes volatile food and energy prices. That index rose 6.6% year-over-year toits highest level in four decades– a worrisome sign that the inflation might be becoming more entrenched in the economy.
But then, starting at around 11:05 a.m. ET, stocks rallied, with S&P 500 up 1.3%, Nasdaq rising 0.8% and Dow Jones gaining 1.8%, according to the Wall Street Journal’s data index. Crypto markets came along for the ride.
“For now, bitcoin buyers have to defend the $18,500 support with attempts to regain the $19,000 level remaining in the pursuit in the next couple of days,” Fuad Fatullaev, co-founder and CEO of Web3 ecosystem WeWay, said.
Despite the midday twist in stocks and crypto, investors in money markets clearly saw the report as hawkish: Trading in federal-fund futures on the CME reflects a 97% chance of a 75 basis point (0.75 percentage point) rate hike at the Federal Reserve’s next monetary-policy meeting in November; a hike of that size is triple the Fed’s more typical increment of 25 basis points in prior interest-rate cycles.
Data from theCME Groupeven now shows investors pricing in a 3% chance of a 100 basis point rate hike – practically unheard of since the high-inflation era of the early 1980s. || Crypto Exchange Deribit Hacked for $28M in Bitcoin, Ethereum, USDC: Crypto futures and options exchange Deribit suffered a security breach on Tuesday around midnight, with hackers making off with nearly $28 million from the exchange’s hot wallet.
Exchanges often use hot wallets to process withdrawals instantly. These kinds of wallets come with high risk, however, as their private keys are stored in a company’s servers to sign withdrawal transactions.
In astatementon Twitter, the Panama-based exchange stated that their hot wallet got hacked for $28 million, but the client assets and cold storage addresses were not affected.
While nearly $28 million has been stolen by the hacker, Deribitnotedthat “the hack is isolated to their BTC, ETH, and USDC hot wallets.”
The hacker made 691 BTC and 9,111.59 ETH from the hack, with the USDCnabbedbeingquickly converted to Ethereum. The funds are now held in two wallets acrossBitcoinandEthereum. The funds are not moved to any mixer (or) laundering service as of this writing.
The company has assured users that they’re still in a “financially sound position” and its reserves cover the loss without affecting the insurance fund.
Deribitstatedthat “they are performing ongoing security checks” and have halted withdrawals from the exchange.
The company has also advised against depositing new funds. Deribit said that the “Deposits already sent will still be processed, and after the required number of confirmations, they will be credited to accounts.”
The derivatives exchange is also a victim of theinsolvencyof investment firm Three Arrows Capital (3AC).
Decrypthas reached out to Deribit for a timeline of the ongoing security checks and will update this story should the company respond. || 5 Coins Solana, Chainlink, That Should Be on Your Watchlist 2022 $SOL: Meme Coins Taking over Cryptocurrency and NFTs have been blasting to the moon lately as the hype train continues for this side of the world, technology that is. We are speaking about people who live on their computer all day and do nothing but research and develop new strategies on how to make the next million or two. We are those people! Look out for Toon Finance as they jet through presale round one raising 2.3 MIL USD in one day. Phase two just started and this is still an excellent opportunity to get in early and expand your statistics. Cryptocurrency experts from Japan and the USA have been saying that Toon Finance is the next 1000x Meme coin following in the same direction as the popular DOGE and SHIB coins. Cryptocurrency is very volatile and it can make you a millionaire if you are smart and R&D your strategy. Buy low sell high is the old saying, that makes for a great chance of 100x and this is why our crypto experts are letting everyone know about this early investment opportunity which expands your chance of massive gains and we are talking about buying BTC in 2011 gains. Meme coins have truly been taking over hardcore as of 2021 when HOGE and SAFEMOON dropped and completely took control of Decentralized Finance and it appears to be happening all over again with the popular Toon Finance and BIG. Solana TFT Crypto Blockchain party Solana is a new cryptocurrency thats been making waves in the crypto world. In this blog post, well give you an overview of what Solana is and how it works. Well also touch on some of the key features that make Solana unique. So, if youre wondering what all the fuss is about, read on! What is Solana? Solana is a cryptocurrency that uses a proof-of-stake consensus algorithm. This means that instead of mining new coins, users can earn rewards by staking their coins in a wallet. The more coins you stake, the higher your chances of earning rewards. Rewards are given out based on a lottery system, so everyone has an equal chance of winning regardless of how many coins they have staked. Story continues Solana also uses something called gossip protocol to propagate transactions quickly and efficiently. This protocol allows each node in the network to communicate with every other node in the network very quickly. As a result, Solana can process thousands of transactions per second (TPS). For comparison, Bitcoin can only handle around 7 TPS and Ethereum can handle around 15 TPS. Solana is able to process transactions much faster than both Bitcoin and Ethereum. Why Use Solana? One of the main reasons to use Solana is for its speed. As we mentioned earlier, Solana can handle thousands of TPS. This is because of its unique gossip protocol which allows nodes to communicate quickly and efficiently with each other. This makes Solana ideal for applications that require fast transaction times such as gaming, betting, or trading. Another reason to use Solana is its security. Solana uses something called Proof-of-History to secure its network. This algorithm uses timestamps to prove that a certain event happened at a certain time. This algorithm is very secure and has never been hacked before. As a result, you can rest assured knowing that your transactions on the Solana network are safe and secure. Solana is a new cryptocurrency thats been making waves in the crypto world. In this blog post, weve given you an overview of what Solana is and how it works. Weve also touched on some of the key features that make Solana unique. So, if youre wondering what all the fuss is about, now you know! Thanks for reading! A Comparison of ETH and Solana Cryptocurrencies In the world of cryptocurrency, there are many options to choose from. Two of the most popular choices are ETH and Solana. Both have their own strengths and weaknesses. So, which one is the right choice for you? Lets take a closer look at ETH and Solana to find out. ETH is a cryptocurrency that was created in 2015. It is based on the Ethereum blockchain, which is a decentralized platform that runs smart contracts. ETH is used to pay for transaction fees and computational services on the Ethereum network. Solana is a cryptocurrency that was created in 2017. It is based on the Solana blockchain, which is a high-performance decentralized platform that supports fast transactions. Solana is used to pay for transaction fees on the Solana network. Transaction Fees One of the major differences between ETH and Solana is transaction fees. On the Ethereum network, transaction fees are calculated based on the gas price and the amount of gas used. The gas price is set by miners, who can choose to accept or reject a transaction based on the fee. This can result in high transaction fees during periods of high demand. On the Solana network, transaction fees are fixed at 0.0001 SOL per byte. This means that users know exactly how much they will need to pay for a transaction before they even send it. As a result, users can be confident that they will not be hit with unexpected fees. Toon Finance Saves the Day Ethereum has seen a humongous spike in the last 7 days as meme coins like Toon Finance and Big Eyes break through the red chains and help bring the Eth community some relief. This is going to be a good Christmas, says one of the BIG developers as Toon Finance begins their community NFT project which will consist of 10,000 NFT airdrops to the 1st 10,000 TFT army members. Blockchain Scalability Another difference between ETH and Solana has to do with blockchain scalability. The Ethereum blockchain can process about 15 transactions per second (TPS). In comparison, the Solana blockchain can process up to 50,000 TPS. This means that Solana is much better equipped to handle large amounts of traffic without slowing down or becoming overloaded. Final Thoughts Both ETH and Solana have their own unique strengths and weaknesses. When choosing between them, its important to consider your own needs and requirements. If you need a cryptocurrency that can handle large amounts of traffic without slowing down, then Solana may be the better choice for you. However, if youre more concerned with low transaction fees, then ETH may be a better fit. Ultimately, the best choice for you depends on your individual needs and preferences. When it comes to choosing a cryptocurrency, there are many factors to consider. Two of the most popular choices are ETH and Solana. Both have their own strengths and weaknesses. So, which one is the right choice for you? It depends on your individual needs and preferences. If you need a cryptocurrency that can handle large amounts of traffic without slowing down, then Solana may be the better choice for you . However, if youre more concerned with low transaction fees , then ETH may be a better fit . Ultimately , only you can decide which cryptocurrency is right for you . What is Chainlink? Founded in 2017, Chainlink is a blockchain abstraction layer that enables universally connected smart contracts. In other words, it provides a secure way to connect blockchain-based applications to external data sources, APIs, and payment systems. By doing so, Chainlink allows blockchain-based applications to achieve greater functionality and usability. In this blog post, well take a closer look at what Chainlink is, how it works, and some of the potential use cases for the platform. How Does Chainlink Work? At a high level, Chainlink works by creating what are known as oracles. Oracles are decentralized nodes that retrieve data from off-chain data sources (e.g., weather data, stock prices, etc.) and submit that data to smart contracts on the blockchain. In other words, oracles act as a bridge between off-chain data sources and on-chain smart contracts. One of the key advantages of using oracles is that they allow for greater flexibility when it comes to retrieving data from off-chain sources. For example, if a particular off-chain data source becomes unavailable, the oracle can simply switch to another data source without having to modify the underlying smart contract. This contrasts with traditional approaches where a smart contract is directly coupled to a specific off-chain data source. Another advantage of using oracles is that they can provide tamper-proof data to smart contracts. This is because each individual oracle only has access to a small subset of the overall data set. As such, it would be very difficult for an attacker to corrupt the entire dataset by tampering with just one oracle. Chainlink currently has two main types of oracles: software and hardware. Software oracles are pieces of code that run on top of existing blockchains (e.g., Ethereum) and are used to retrieve data from off-chain sources. Hardware oracles are physical devices (e.g., sensors) that collect data from the real world and submit it to chain link nodes which then relay that information to smart contracts on the blockchain. What Are Some Potential Use Cases for Chainlink? One potential use case for Chainlink is in the area of supply chain management. For example, lets say youre a company that needs to track the movement of goods across your supply chain in real-time. With Chainlink, you could create a smart contract that automatically triggers payments when goods arrive at their destinationand all of this could happen without any human intervention required. Another potential use case for Chainlink is in the area of insurance. For example, lets say youre an insurance company that offers weather-based insurance policies (e.g., flight cancellation insurance). With Chainlink, you could create a smart contract that automatically pays out claims when bad weather conditions are detected by an oraclethus eliminating the need for manual claims processing by humans. Chainlink is a blockchain platform that enables universally connected smart contracts through the use of decentralized oracles. By doing so, Chainlink allows blockchain-based applications to achieve greater functionality and usability while also providing tamper-proof data sets thanks to its distributed nature. While still in its early stages of development, there are already many potential use cases for Chainlinkincluding in the areas of supply chain management and insurancethat show great promise for the platform moving forward. The Graph The Indexing Protocol for the Decentralized Web The Graph is an indexing protocol for querying data for networks like Ethereum and IPFS, powering many applications in both DeFi and the broader Web3 ecosystem. Anyone can build and publish open APIs, called subgraphs, that applications can query using GraphQL to retrieve blockchain data. There is a hosted service in production that makes it easy for developers to get started building on The Graph and the decentralized network will be launching later this year. The Graph currently supports indexing data from Ethereum, IPFS and POA, with more networks coming soon. In this blog post, well give you a brief overview of what The Graph is and how it works. Well also touch on some of the potential use cases for The Graph and why we believe its an important project to keep an eye on. What is The Graph? The Graph is an indexing protocol for querying data for networks like Ethereum and IPFS, powering many applications in both DeFi and the broader Web3 ecosystem. Anyone can build and publish open APIs, called subgraphs, that applications can query using GraphQL to retrieve blockchain data. There is a hosted service in production that makes it easy for developers to get started building on The Graph and the decentralized network will be launching later this year. The Graph currently supports indexing data from Ethereum, IPFS and POA, with more networks coming soon. How does it work? The Graph has two parts: curation markets that decentralize work paid for by application developers using GRT tokens, and Indexers who run nodes to build indexes which are stored off-chain as subgraphs. Application developers specify what data they need using a declarative schema language called GraphQL SDL. Using this schema as input, indexers produce corresponding subgraphs that are stored as graphs off-chain. These subgraphs are then available via a set of RESTfulJSON API endpoints of aGraphQL server endpoint if you want to use GraphQL Query Language(like most frontend developers do). Because all of this happens off-chain, queries against The Graphs decentralized network are extremely faston par with centralized alternatives and often faster. Users only need to pay when they query data from The Graphs network; there are no fees to add or change data. This makes querying very cheap (usually less than tenth of a cent) or even free if your query falls within an Indexers free quota! For example, Uniswap uses Th eGraph to power its real-time pricing charts and token balances so users always have up-to-date information when making trades on the decentralized exchange. By popular demand from the community, we recently launched our first stablecoin index which enables low-cost queries of USDT and DAI on Ethereum! Developers building with TheGrain now easily get USD price for any ETH balance or transaction amount without having to convert ETH into USD themselves or rely on centralized services that charge fees per API call. Support for currency conversion between different ERC20 tokens is coming soon as well! Were also working with Chainlinks; their community can start indexing Chainlink VRF with The Graph To make it easier for smart contracts to generate randomness! You can learn how to build a subgraph and deploy it to mainnet in our docs or check out some existing subgraphs on our graph explorer https://thegraph.com/explorer/. If you want to get involved with our growing community of builders around the world, join us on Discord or GitHub! We also have a graph explorer bug bounty program if you find any issues while using our software. Whether youre a developer looking to build the next big thing on Web3 or just want to explore whats possible with blockchains and dapps today, we hope you give The Graph a try! Yuriy Co-founder & CEO As the usage of decentralized applications continues to grow exponentially, there is an increasing need for reliable and scalable ways to query blockchain data. Thats where The Graph comes in. By providing a platform for developers to easily build and publish open APIs that can be queried using GraphQL, The Graph is quickly becoming the go-to solution for fetching blockchain data. With support for multiple blockchains and protocols already built-in and more being added all the time, The Graph is well-positioned to become the standard way of querying blockchain data in the years to come. So if youre doing anything with blockchain development, make sure to keep an eye on The Graph! The New Way to Store Data: Arweave (AR) In a world where data is constantly being generated and stored, its becoming more and more important to find ways to store data securely and efficiently. Thats where Arweave comes in. Arweave is a decentralized storage network that offers a platform for the indefinite storage of data. Describing itself as a collectively owned hard drive that never forgets, the network primarily hosts the permaweb a permanent, decentralized web with a number of community-driven applications and platforms. So how does it work? The network makes use of something called blockchain weaving. Essentially, this means that every block of data that is added to the network is linked to the previous block, creating a chain. This makes it impossible to change or delete any data without changing all subsequent blocks, meaning that once data is stored on the network, it is there forever. Not only does this make Arweave incredibly secure, but it also makes it very efficient. Because data is stored in a decentralized manner, there is no need for centralized servers or storage devices. This not only cuts down on costs, but also makes the network much more resistant to attacks or outages. Arweave is an innovative new platform that offers a secure, efficient way to store data indefinitely. Using blockchain weaving, Arweave creates a chain of blocks that are linked together, making it impossible to change or delete any data without changing all subsequent blocks. This makes the network incredibly secure, as well as resistant to attacks or outages. If youre looking for a new way to store data, Arweave is definitely worth checking out. STEPN & TFT is a New Way to Earn Cryptocurrency STEPN is a new app that allows users to earn cryptocurrency by walking, running, or jogging. The app combines aspects of a play-to-earn game with a fitness app to create a new category coined move-to-earn. Users buy NFT sneakers, which they can use to earn in-game currency while walking, running, or jogging. How Does STEPN Work? STEPN is built on the Solana blockchain and uses the GMT token. The app is currently available on Android and iOS. Users can link their Fitbit or Apple Watch to the app to track their steps. They can also manually input their steps if they dont have a Fitbit or Apple Watch. Once users have linked their devices or inputted their steps, they will start earning GMT tokens. The more steps they take, the more GMT tokens they will earn. Users can then use these GMT tokens to buy NFT sneakers. The NFT sneakers can be used to unlock different levels in the game and give users special abilities. STEPN is a new and innovative way to earn cryptocurrency. The app is easy to use and available on Android and iOS. With STEPN, users can link their Fitbit or Apple Watch to the app to track their steps and earn GMT tokens. These GMT tokens can be used to buy NFT sneakers, which can be used to unlock different levels in the game and give users special abilities. Try STEPN today and start earning cryptocurrency! Toon Finance Protocol | Telegram | CoinMarketCap | Toon Finance Coin Presale || Bitcoin Options Traders, Burned by Last Month’s CPI Report, Now Seek Downside Protection: Bitcoin (BTC) traders have turned cautious ahead of a monthly report expected later this week on U.S. inflation. One reason might be because they were burned by wrong-way positioning the last time the Consumer Price Index (CPI) figures were released.
The Labor Department on Thursday is likely to report that the core CPI data, which strips out the impact of volatile food and energy prices, accelerated to a year-on-year pace of 6.5% in September, from August's 6.3%. The headline figure, which includes all goods and services, is seen slowing a touch to an annual 8.1% from 8.3%, according to FactSet.
The core CPI is considered a better indicator of underlying inflation. So an uptick would back the case for continued rapid-fire Federal Reserve interest-rate hikes that have wrecked risk assets, including cryptocurrencies, this year.
A glimpse at crypto options markets would suggest that investors are using trades to protect themselves from the risk the CPI report could trigger renewed downside volatility in bitcoin.
The seven-day "call-put skew," which measures the cost of calls relative to puts, has dropped from -5% to -10% in recent days. In other words, bitcoin puts – derivative contracts offering downside protection – are becoming more expensive than calls, which are typically seen as bullish bets.
With global markets on edge, bitcoin has been holding its own recently, trading just below the $20,000 level but so far avoiding a deeper sell-off.
"We have seen large buying in October expiry bitcoin puts at $17,500 and $18,500 strikes ahead of the CPI," Shiliang Tang, chief investment officer at crypto hedge fund Ledger Prime, said.
The recent decline in the short-duration call-put skew is in stark contrast from the trend seen a month ago when the metric crossed above zero, suggesting a bias for calls.
Back then, traders were snapping up bullish bets on speculation the inflation data (released Sept. 13) would show price pressures cooled in August – and ostensibly making it easier for the Federal Reserve topivot away from its liquidity-tightening campaign.
However, inflation came inhotter than expected, dashing the Fed pivot hopes and trapping call buyers on the wrong side of the market. Bitcoin fell by nearly 10% on the same day, with the skew falling below zero in favor of puts.
"Last month, ahead of the inflation data, traders bid weekly calls, pushing the seven-day call-put skew above the positive territory," Gregoire Magadini, CEO of options analytics platform Genesis Volatility, told CoinDesk. "However, that trade was a huge loser. As such, traders are staying away from such bets this time."
The preference for puts is also evident from the put-call volume ratio, which has doubled since Friday.
Some traders are buying "gamma" in anticipation of a big move after the CPI print, according to Singapore-based crypto options trading giant QCP Capital.
Buying gamma, or being long gamma, means purchasing a call, put or both. The long gamma positions make money when the underlying asset, such as BTC in this case, charts a big move in either direction and bleed money if the underlying remains dull. In other words, these are bets that price volatility, or "vol," will increase.
"In the crypto vol space, we are seeing heavy demand" for front-end short duration options, Singapore-based options trading giant QCP Capital said in its Telegram-based channel. "The market is buying up gamma ahead of Thursday's print." || Embracer Group Shuts Down Montreal Video Game Studio: (Bloomberg) -- Video game publisher Embracer Group AB is shutting down Onoma, a Montreal, Canada-based video game studio that it acquired just months ago. 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 Onoma, formerly known as Square Enix Montreal, was best known for creating the Go series of mobile games such as Hitman Go. The company informed employees Tuesday that some staff would be transferred to a sister studio, Eidos Montreal, said people familiar with the situation. A representative for Embracer confirmed Tuesday that the company is closing Onoma and said the move would impact around 200 employees. The shutdown is unusual because of the timing. Onoma was purchased in May and on Oct. 10 announced a new name and branding. Sweden-based Embracer has been on a video game industry shopping spree, buying companies both big and small over the past few years. Onoma was part of a large acquisition earlier this year, alongside Eidos Montreal, San Francisco-based Crystal Dynamics and a handful of franchises including Tomb Raider and Deus Ex. The move appears to be part of a larger cost-cutting initiative. Eidos Montreal has reduced the scope of one unannounced project and will cancel another one, said the people familiar with the situation who asked not to be identified because they were not authorized to speak publicly. The company also plans to work with Microsoft Corp. to help develop some games, including one in the Fable franchise led by UK-based Playground Games. (Updates with Embracer confirmation in the third paragraph.) 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.
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 17128.72, 17104.19, 17206.44, 17781.32, 17815.65, 17364.87, 16647.48, 16795.09, 16757.98, 16439.68
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2021-05-24]
BTC Price: 38705.98, BTC RSI: 35.95
Gold Price: 1884.60, Gold RSI: 73.74
Oil Price: 66.05, Oil RSI: 57.03
[Random Sample of News (last 60 days)]
Dalio, Brainard, Lummis: Your Guide to Day 1 at Consensus 2021: There’s a lot happening throughout the first day of Consensus 2021. Here are few sessions, panels and workshops I’d be sure not to miss.
This article is excerpted from The Node, sending twice daily this week to cover the biggest news from ourvirtual Consensus conference. Subscribe toreceive the full newsletter here.And register forConsensus here.
You can seea full schedule of events here(just scroll down).
Related:IMF Official: ‘A World With More Than One Reserve Currency Is a More Stable World’
09:00 – 09:30 a.m.Special Address by Dr. Lael BrainardDr. Lael Brainard of the Federal Reserve Board of Governors will give an address discussing her latest thinking on digital currencies.
09:30 – 10:30 a.m.First Principles: Ray Dalio on Money, Monetary Policy and BitcoinThe founder of Bridgewater Associates, the largest hedge fund, Ray Dalio will offer his thoughts on the future of money and monetary policy in the post-COVID environment. He will also share his evolving views on how disruptive assets such asbitcoinmight fit into the global financial system that will emerge from this moment.
12:00 – 12:25 p.m.Washington, Politics and Governing in a Bitcoin-ized World, With Sen. Cynthia LummisU.S. Sen. Cynthia Lummis of Wyoming joins Meltem Demirors to discuss how bitcoin’s supra-sovereign nature has re-shaped her perspective on politics, governing and old-world institutions like the U.S. Congress.
02:30 – 03:00 p.m.Reframing Bitcoin’s Energy: ESG, Time Preference and Public PerceptionBitcoin is joining a long list of “dirty” industries due to its intense resource consumption. Energy experts, and bitcoin bulls, like Luxor CFO Ethan Vera, Research and Content Director at Compass Mining Zack Voell and Director of Business Development of Great American Mining Marty Bent put the conversation in perspective.
Related:Wyoming Governor Mark Gordon Owns Crypto
05:00 – 05:30 p.m.Long the Metaverse VR TalkJoin us in our VR recording studio as our curator and host, BoomboxHead, interviews cryptoartists from “Long the Metaverse” VR Exhibition! Featuring: Skeenee, Rare Designer, George Boya, Alotta Money, Reinhard and Sturec.
8:40 – 8:50 p.m.How ETH is ‘Ultra’ Sound MoneyBankless’ David Hoffman will speak about how Ethereum’s EIP1559 and Proof of Stake transition will makeETHinto a more scarce asset than bitcoin.
• MicroStrategy CFO Says Tech Companies Have an ‘Imperative’ to Hold BTC
• Senator Lummis’ Financial Innovation Caucus to Launch Tuesday || Clean Energy Bitcoin Mining Joint Venture Agreement Signed by Link Global Technologies and Neptune Digital Assets: VANCOUVER, British Columbia, April 12, 2021 (GLOBE NEWSWIRE) -- NEPTUNE DIGITAL ASSETS CORP. (“Neptune” or the “Company”) (TSX-V:NDA; OTC:NPPTF; FSE:1NW) is pleased to provide an update on its planned expansion into renewable energy Bitcoin (“BTC”) mining. The Company and LINK GLOBAL TECHNOLOGIES INC. (CSE: LNK; FRA: LGT; OTC: LGLOF) (“LINK”) have incorporated a joint venture company, Pure Digital Power Corp. (“Pure”), and in connection therewith, the Company, Link and Pure have entered into a shareholders’ agreement governing the management of Pure. Pure is a power and Bitcoin mining infrastructure company with an emphasis on clean sustainable energy.
Through Pure, Neptune and Link have agreed to develop an initial 5 megawatt (“MW”) renewable energy dominated BTC mining facility in Alberta, with potential for expansion and scaling. Establishing Pure and entering into the corresponding shareholders agreement follows shortly after the March 19, 2021 announcement of the proposed joint venture between LINK and Neptune to develop a green energy facility. All BTC mined under Pure’s operation are expected to be held in the treasury for reinvestment and decentralized finance (defi) based earnings, similar to Neptune’s current approach to treasury and asset management.
Highlights:
• Pure is a joint venture company owned equally by LINK and Neptune — sharing equally in costs and crypto based revenues
• The first Pure site will be in Alberta, Canada where LINK operates the majority of its BTC mining operations
• The Pure site will be powered by clean energy sources — Solar, wind, and minimal natural gas
• Focused on development of a Pure carbon credit token or NFT
Neptune’s President and Chief Executive Officer, Cale Moodie, commented: “We are extremely excited with our second foray into Bitcoin mining with Link, and an environmentally sustainably focused operation at that. We see the future of Bitcoin mining to be an environmentally sustainable one and this flagship operation is likely to be the first of many facilities to be developed using green sources.”
Link’s President and Chief Executive Officer, Stephen Jenkins, also commented: “The creation of Pure is the perfect step in the evolution of Link. We have found a like-minded partner in Neptune who understands the value of green energy and sees the same business opportunity in creating a sustainable path for the energy requirements of BTC mining. The Pure 5 MW facility is only the beginning of what we expect will be an innovative and profitable relationship.”
About Neptune Digital Assets Corp.Neptune Digital Assets aims to be a cryptocurrency leader with a diversified portfolio of investments and cryptocurrency operations across the digital asset ecosystem including bitcoin mining, tokens, proof-of-stake cryptocurrencies, decentralized finance (defi) and associated blockchain technologies.
About Link Global Technologies Inc.Link is engaged in providing infrastructure and operating expertise for digital mining and data hosting operations. Link’s objectives include locating and securing, for lease and option to purchase, properties with access to low-cost, reliable power, and deploying this low-cost power to conduct digital mining and supply clean energy and infrastructure for other data-hosting services.
ON BEHALF OF THE BOARD
Cale Moodie, President and CEONeptune Digital Assets Corp.1-800-545-0941www.neptunedigitalassets.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This release contains certain “forward looking statements” and certain “forward-looking information” as defined under applicable Canadian securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans”, “proposes” or similar terminology. Forward-looking statements and information include, but are not limited to, the completion of Pure’s first 5 MW BTC mining facility; the ability of Pure to be profitable; the Company’s future earnings and operating costs; the Company’s future growth in total assets; the Company’s strategy to purchase crypto currency and optimize its crypto portfolio; the Company’s ability to effectively dollar cost average its purchases of crypto currency; and the future outlook of the crypto currency market generally. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties, and contingencies. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause the Company’s actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: the inherent risks involved in the cryptocurrency and general securities markets; the Company’s ability to successfully mine digital currency; revenue of the Company may not increase as currently anticipated, or at all; 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; uncertainties relating to the availability and costs of financing needed in the future; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, currency fluctuations; regulatory restrictions, liability, competition, loss of key employees and other related risks and uncertainties. The Company does not undertake any obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. || Daniel Loeb’s $17B Hedge Fund Is Keeping Crypto With Coinbase – And Maybe Even Staking It: Billionaire investor Daniel Loeb’s “deep dive into crypto” last month led his $17.6 billion hedge fund to a familiar place: a custody deal with Coinbase.
Loeb’s Third Point LLC now holds cryptocurrency from five of its funds with Coinbase, according to regulatorydocumentsobtainedby CoinDesk. Some tout billions of dollars in underlying assets, but it is not clear how much of that is in crypto, which assets, or for how long they’ve invested.
With less than a week to go before Coinbase’s Nasdaq debut, the custody tie-up underscores how Brian Armstrong’s nine-year-old firm has transformed itself from abitcoin-only digital wallet into a massive vault for Wall Street’s crypto bets.
Related:Galaxy Digital Files for US Bitcoin ETF
Coinbaserevealedit held $122 billion in institutional assets during this week’s voluntary earnings call. It expects “meaningful growth” driven in part by custody revenue in the year ahead.
CoinDesk reported earlier this week that fellow hedge fund titanPaul Tudor Jonesis also a Coinbase client, offering a glimpse at the deep-pocketed investors behind the exchange’s institutional assets under management.
Third Point did not respond to CoinDesk by press time.
The hedge fund’s true exposure to crypto assets remains more opaque. In a brochure accompanying the March 31 filings, Third Point said it can invest directly in cryptos or indirectly through derivatives contracts.
Related:MicroStrategy Says Some of Its Board Directors to Be Paid in Bitcoin
Notably, it is open to staking and lending any cryptos as well, the documents say.
“This is the first big traditional hedge fund that I know of that is doing staking,” said Tim Ogilvie, who runs a company called Staked that provides staking services to institutional investors, after reviewing the documents.
“On the one hand I’m surprised. On the other hand I’m not surprised,” he added. “If you want to hold a crypto asset that is proof-of-stake I think you have a fiduciary responsibility to stake.”
Proof-of-stake blockchains like Tezos, Cosmos, Solana and others reward token holders with payouts akin to interest for securing the network with their contributed holdings.
Institutional investors are slowly waking up to staking, Ogilvie said. With staking there are two gains generators: the token price and the staking payout. It’s a guaranteed reward on top of a speculative bet. Ogilvie said there are $4.5 billion in crypto assets on Staked.
Loeb has never publicly disclosed his crypto holdings. But he began to toy – at least publicly – with the asset class in an early-March tweet.
Third Point’s own foray into crypto likely started well before. In mid-March the asset manager revealed it is backing crypto exchange eToro, which, like Coinbase, is gearing up for a Nasdaq debut.
eToro’s SPAC deal (it is going public through a merger with FinTech Acquisition Corp. V, or FTCV) gave Third Point and Loeb an opportunity to invest.
They did: Loeb now holds 3 million shares, or more than 10%, of FTCV, worth nearly $43 million on Friday, according tofilings.
UPDATE (April 9, 21:05 UTC):Loeb appeared to confirm that he holds crypto ina tweetciting this story after publication.
• Daniel Loeb’s $17B Hedge Fund Is Keeping Crypto With Coinbase – And Maybe Even Staking It
• Daniel Loeb’s $17B Hedge Fund Is Keeping Crypto With Coinbase – And Maybe Even Staking It || Tesla's Musk halts use of bitcoin for car purchases: By Hyunjoo Jin and Kanishka Singh
(Reuters) -Tesla Inc will no longer accept bitcoin for car purchases, Chief Executive Elon Musk said on Wednesday, citing long-brewing environmental concerns for a swift reversal in the company's position on the cryptocurrency.
Bitcoin fell more than 10% after Musk tweeted his decision to suspend its use, less than two months after Tesla began accepting the world's biggest digital currency for payment. Other cryptocurrencies, including ethereum, also fell before regaining some ground in Asia trade.
The use of bitcoin to buy Tesla's electric vehicles had highlighted a dichotomy between Musk's reputation as an environmentalist and the use of his popularity and stature as one of the world's richest people to back cryptocurrencies.
Some Tesla investors, along with environmentalists, have been increasingly critical about the way bitcoin is "mined" using vast amounts of electricity generated with fossil fuels.
Musk said on Wednesday he backed that concern, especially the use of "coal, which has the worst emissions of any fuel."
"Cryptocurrency is a good idea on many levels and we believe it has a promising future, but this cannot come at great cost to the environment," he tweeted. Tesla shares fell 1.25% after hours.
Tesla revealed in February it had bought $1.5 billion of bitcoin, before accepting it as payment for cars in March, driving a roughly 20% surge in the cryptocurrency.
Tesla would retain its bitcoin holdings with the plan to use the cryptocurrency as soon as mining transitions to more sustainable energy sources, Musk said.
Bitcoin is created when high-powered computers compete against other machines to solve complex mathematical puzzles, an energy-intensive process that currently often relies on electricity generated with fossil fuels, particularly coal.
At current rates, such bitcoin “mining” devours about the same amount of energy annually as the Netherlands did in 2019, the latest available data from the University of Cambridge and the International Energy Agency shows.
Analysts said Musk's about-face was inevitable.
"The environmental impact from mining bitcoins was one of the biggest risks for the entire crypto market," said Edward Moya, a senior market analyst at currency trading firm OANDA.
Meltem Demirors, chief strategy officer at digital asset manager CoinShares Group, said Tesla was unlikely to have sold many, if any, cars using bitcoin and the backflip generated positive publicity while simplifying payment processes.
"Elon was getting a lot of questions and criticisms and this statement allows him to appease critics while still keeping bitcoin on his balance sheet," Demirors said.
Mark Humphery-Jenner, an associate professor of finance at the University of New South Wales, said he was more concerned about Tesla management's "very hasty and precipitous" decision-making.
Musk did not say in his Twitter comments whether any vehicles had been purchased with bitcoin and Tesla did not immediately respond to a request for comment.
CRYPTOCURRENCY SUPPORT
Some bitcoin proponents note that the existing financial system - with its millions of employees and computers in air-conditioned offices - uses large amounts of energy too.
Musk reiterated he remained a strong believer in cryptocurrencies.
"We are also looking at other cryptocurrencies that use <1% of bitcoin's energy/transaction," he tweeted on Wednesday.
Just a day earlier, Musk had polled Twitter users on whether Tesla should accept dogecoin, a currency he has helped turn from a joke into a valuable commodity.
He announced on Sunday that his commercial rocket company SpaceX will accept dogecoin as payment to launch a lunar mission next year - just hours after he sent the cryptocurrency spiraling downward when he called it a "a hustle" during a guest-host spot on the "Saturday Night Live" comedy sketch TV show.
CHINA DOMINANCE
The dominance of Chinese bitcoin miners and lack of motivation to swap cheap fossil fuels for more expensive renewables could mean there are few quick fixes to the cryptocurrency's emissions problem.
Chinese miners account for about 70% of bitcoin production, data from the University of Cambridge's Centre for Alternative Finance shows. They tend to use renewable energy - mostly hydropower - during the rainy summer months, but fossil fuels - primarily coal - for the rest of the year.
Officials in Beijing are conducting a check on data centres involved in cryptocurrency mining to better understand their impact on energy consumption, sources told Reuters last month.
In theory, blockchain analysis firms say, it is possible to track the source of bitcoin, raising the possibility that a premium could be charged for green bitcoin.
(Reporting by Ankur Banerjee and Kanishka Singh in Bengaluru, Anna Irrera and Tom Wilson in London, Megan Davies in New York, Kevin Buckland in Tokyo and Hyunjoo Jin in Berkeley; Editing by Sriraj Kalluvila, Peter Henderson, Edward Tobin and Jane Wardell) || Bitcoin Has Best Start to Year Since 2013 as Gold Disappoints: The debate whetherbitcoinis stealing gold’s market share as a store-of-value asset could heat up as the biggest cryptocurrency heads for its best first-quarter performance in eight years, outperforming gold even as inflation expectations rise.
Bitcoin was trading around $58,000 at press time, roughly double where it started 2021. That’s the biggest first-quarter gain since 2013, when prices jumped by a whopping 600% in the January-to-March period, per CoinDesk 20 data.
An ounce of gold is currently changing hands at $1,685. The yellow metal has dropped 11% this quarter, marking its worst start to the year since 1982,as noted bymarket analyst Holger Zschaepitz.
Related:Options Market Shows Call Bias as Bitcoin Prepares for New Price High
The yellow metal’s loss comes even as inflation has become one of the most central topics in traditional markets, with a growing number of Wall Street analysts, investors and economists worried it’s the top risk following trillions of dollars of coronavirus-related stimulus from governments and central banks.
According to the data from the Federal Reserve Bank of St. Louis, a key proxy for inflation expectations known as the U.S. five-year breakeven rate has risen sharply from 1.98% to 2.53% in the first three months, extending the ascent from the March 2020 low. The breakeven rate is the difference between yields on inflation-linked notes and those on standard notes with similar maturities.
Some market observers say investors are rotating funds out of gold and into bitcoin.
“BTC just stealing the flows that should be going to gold in this macroclimate,” BlockTower Capital founder and Chief Investment OfficerAri Paul saidin a Twitter reply to Bloomberg’s Joe Weisenthal on Tuesday.
Related:Crypto Exchange Luno Hires CFO of Digital Banking Giant Monzo
Weisenthal, however, disputed the narrative,associatinggold’s decline with the rise in real or inflation-adjusted bond yields. The yellow metal has historically moved in the opposite direction to the real yields.
That said, one cannot ignore the growing institutional interest in bitcoin.
According to Arcane Research, bitcoin under management from exchange-traded investment vehicles has grown by 106,000 BTC or approximately 15% since Dec. 30, 2020. These products are now controlling 4.3% of the circulating bitcoin supply.
Further, as of mid-March, four public-listed companies – MicroStrategy, Tesla, Square, andMeitu– owned 40% of bitcoin’s annual supply, as noted by Richard Byworth, CEO of Nasdaq-listed cryptocurrency exchange Diginex, in a Bloomberg interview.
The U.S. electric maker Tesla purchased bitcoin in January, becoming the first Fortune 500 Company to adopt the cryptocurrency as a reserve asset. Recently, the company’s billionaire CEO Elon Musk announced that the carmaker would begin accepting payments in bitcoin.
Crypto market punditsare confidentthat other corporates would soon follow suit, propelling bitcoin to new heights.
The market is already facing a supply-side crisis due to the continued outflow of bitcoins from exchanges amid increased demand from large investors.
According to data provider Glassnode, the number of coins held on exchanges has declined by nearly 5% to 2.4 million in the first quarter and by 600,000 in the past 12 months.
“Bitcoin investment vehicles have thus seen a growth of 450,000 BTC over the last year, contributing significantly to the declining exchange balance,” Arcane Research’s latest weekly note says.
The odds, therefore, appear stacked in favor of continued price rally in the second quarter – a historically strong period.
Some options traders are positioning for a rally to $80,000 by the end of April. Meanwhile, a few chart analysts areanticipating a rally at least to $70,000.
Also read:Bitcoin Options Traders Position for Gains (to $80K?) in Historically Bullish April
• Bitcoin Has Best Start to Year Since 2013 as Gold Disappoints
• Bitcoin Has Best Start to Year Since 2013 as Gold Disappoints || ‘Extreme Fear’ Grips Bitcoin Market After Price Plunge, Sentiment Gauge Shows: The Crypto Fear and Greed Index, a metric that measures the current sentiment in the bitcoin market, has fallen to “extreme fear” levels not seen since April 2020, a report Tuesday showed.
The drop in market sentiment follows the past week’s plunge in the bitcoin (BTC) price to about $43,200, down from last month’s record near $65,000.
TheCrypto Fear and Greed Indexis now at 21, down from a “greedy” level of 73 just last week, according to the report from hosting site Alternative and quoted byArcane Research, a Norwegian analysis firm.
Related:Bitcoin Drop Below $40K Triggers $3B in Liquidations, Heads for Worst Month in 3 Years
“The past week has been filled with fear, uncertainty and doubt, and the bitcoin price has crashed down,” the Arcane analysts wrote. “In the past, an extremely fearful market like this has historically presented solid buying opportunities during bull cycles.”
Other market indicators are reflecting that fear, according to Arcane:
• The so-called “Grayscale discount” has widened to a record 25%.This is the difference between the price of bitcoin, as implied by the trading level of Grayscale Bitcoin Trust shares, and the spot-market price. “If the discount becomes of sufficient size, this could post a short-term risk for bitcoin,” according to Arcane. (Grayscale is a CoinDesk sister company.)
• Funding rates in the market for bitcoin derivatives turned negative.The funding rates fell below 0% on two separate occasions over the past week – during the May 12 sell-off, and again on Monday as the market reacted to Tesla CEO Elon Musk’s latest comments on the cryptocurrency. “As the market headed downwards yesterday, $1 billion worth of longs got liquidated as the market turned sour.” By Tuesday, according to the report, the funding rate had returned to neutral territory, according to the report.
• Short-term price volatility has climbed to the highest level since February. The 30-day volatility is now at 4.5%, indicating that the bitcoin price has been moving 4.5% every day over the past month, on average.
• Bitcoin Breaks Below $42K; Next Support at $34K as Intermediate Trend Turns Bearish
• Bitcoin Plummets to Below $40K
• Market Wrap: Ether Climbs, Pushing Past ‘Musk Dip’ as Crypto Volatility Increases || GLOBAL MARKETS-Asia shares wary of U.S. inflation, Bitcoin tries to steady: * Asian stock markets : https://tmsnrt.rs/2zpUAr4
* Nikkei inches up 0.2%, S&P futures shade firmer
* Eyes on US inflation, Fed speakers for tapering clues
* Bitcoin savaged as China clamps down on crypto mining
By Wayne Cole
SYDNEY, May 24 (Reuters) - Asian shares got off to a cautious start on Monday as investors awaited key U.S. inflation readings for guidance on monetary policy, while Bitcoin tried to steady after being hammered on news of China's crackdown on mining and trading of the cryptocurrency.
MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.4% in slow trade. Japan's Nikkei added 0.2% and Chinese blue chips lost 0.5%.
Nasdaq futures were flat and S&P 500 futures firmed 0.2%. EUROSTOXX 50 futures and FTSE futures added 0.1%.
After surveys of the global service sectors out on Friday showed spectacular growth, all eyes will be on U.S. personal consumption and inflation figures this week.
A high reading for the core inflation figures would ring alarms and could revive talk of an early tapering by the U.S. Federal Reserve.
The diary has a crowd of Fed speakers this week, including the influential Fed Board Governor Lael Brainard, and markets will be keen to hear if they stick to the script on being patient with policy.
BofA's monthly Fund Manager survey found a record high 69% of respondents expected above trend economic growth and inflation globally.
As a result, managers had pushed into commodities and late-cyclicals, where overweight positions were close to 15-year highs, while the single most crowded trade was Bitcoin.
"With such bullish views on growth and inflation, the risk for investors is that growth slows and inflation proves temporary," BofA analysts said in a note.
"Also, Tech, viewed as crowded fairly recently, is now back to an underweight and would likely benefit if inflation fears ebbed."
The crowded trade in Bitcoin left it vulnerable to a selloff as investors rushed to the exits en masse, seeing it down 50% from its all-time high. The cryptocurrency shed 13% on Sunday alone, but was last trading up 1.5% at $35,208.
It was hurt in part by China's crackdown on mining and trading of the largest cryptocurrency as part of ongoing efforts to prevent speculative and financial risks.
The major currencies were staid in comparison, with the euro holding at $1.2180 after repeatedly failing to clear chart resistance around $1.2244 last week.
The dollar was idling on the yen at 108.94, pinned between support at 108.56 and resistance around 109.33. Against a basket of currencies, the dollar had steadied at 90.032 after hitting its lowest since January at 89.646 on Friday.
The softness of the dollar combined with concerns about inflation and the wild volatility of cryptocurrencies to put gold back into favour. The metal was last at $1,884 an ounce , after reaching its highest since January.
"The recent mix of strong U.S. CPI, weak employment, and Fed policymakers willing to let inflation overshoot while targeting the employment gap, could remain gold bullish for a while longer," said Michael Hsueh, commodities & FX strategist at Deutsche Bank.
"Gold's recovery has been associated with the strong rally in some parts of the commodities complex, increasingly represented by agriculture, metals and transport indices this year, and an 8-yr high in U.S. 10-year inflation expectations."
Oil prices edged higher as a storm formed in the Gulf of Mexico and Iran said a three-month nuclear monitoring deal had expired, raising doubts about the future of indirect talks that could end U.S. sanctions on Iranian crude exports.
Brent was last up 63 cents to $67.06 a barrel, while U.S. crude added 61 cents to $64.19 per barrel.
(Editing by Shri Navaratnam and Sam Holmes) || Steve Aoki on NFTs: ‘Instagram is 2021, crypto wallets are the future’: Subscribe to The Ledger for expert weekly analysis on fintech’s big stories, delivered free to your inbox. Steve Aoki is an unabashed futurist—and in his forecast for the years ahead, cryptocurrency technology only gains prominence. At the core of the electro-dance beatmaker’s belief is a conviction that blockchains, the tech behind virtual assets like Bitcoin, will become central to how people express themselves online. “That's the great thing about crypto, the whole thing, it’s all transparent,” Aoki tells Balancing The Ledger , Fortune's show covering the intersection of finance and technology. “You can flex—or you show—how you support who you support. It's all in your wallet,” effectively, in this case, a digital gallery that can publicly display which artworks and artists a person has patronized, he says. In Aoki’s vision of the future, the behemoth social media giants that dominate so much of people’s time and attention today, like [hotlink]Facebook[/hotlink], lose musculature. “How we identify ourselves to the world, it's gonna be, not just your Instagram profile—that's what it is now, that's 2021—but in the future it will be your wallet” for storing virtual goods, he says. Aoki envisions people loading up their digital wallets with non-fungible tokens, or NFTs , blockchain-based collectibles that people might buy to show off their personal taste. NFTs—which are basically digital certificates of authenticity associated with everything from virtual land to digital art to electronic versions of basketball cards— recently ignited a frenzy that drew in everyone from Paris Hilton to [hotlink]Twitter[/hotlink] founder Jack Dorsey. Generally, anyone can enjoy the digital content associated with an NFT—viewing an artwork, listening to a song—without having to buy the NFT itself. But people are spending money on NFTs anyway, frequently as a sort of speculative alternative investment. Sometimes people buy them as a form of artist patronage or, in yet other cases, they do so as a hobby, like stamp collecting. Story continues A hairy predicament Whatever a fan's motivation, Aoki is one of many musicians lately latching onto the new revenue opportunity. Other artists capitalizing on the trend include the Kings of Leon, Grimes, and Deadmau5. Even the CEO of [hotlink]Coinbase[/hotlink], Brian Armstrong, recently released an NFT-song in collaboration with David Khanjian, a DJ who goes by the stage name Davi. Aoki, also a scion of the Benihana restaurant dynasty , sold his first NFTs earlier this year. One piece, called “ Hairy ,” entailed a short video displaying a blue-furred monster-man jamming out to a synth-driven, electro-industrial track of Aoki’s creation. https://twitter.com/niftygateway/status/1368627546825359367?s=20 That sale is one of the top grossing of any NFTs to date. At press time, the piece ranked fourteenth overall , having sold for $888,888.88, putting it just ahead of an a recent New York Times’s op-ed that sold for $844,018. The buyer of Aoki's fleecy fantasy? John Legere, the former CEO of T-Mobile . “He's an old friend of mine and he's been very supportive of me,” Aoki says of the ex-telecom exec. “He also believes in the future of NFT's and he's collecting art by artists he loves.” Not just ultra-high-end art Aoki is doubling down on his early success, despite signs that the market for NFTs has cooled a bit compared to recent highs . On April 27, Aoki is releasing a new set of NFTs inspired by Neon Future , a comic book franchise he developed with Tom Bilyeu, CEO of Impact Theory, a digital content studio. https://twitter.com/maciej_kuciara/status/1385348686276743168?s=20 “We don't want to be just doing ultra-high-end art,” Bilyeu says of his studio’s NFT-slinging aspirations. “There's a lot of PR to be gotten from it and a lot of amazing art to create there, but our primary focus is going to be lower cost items, higher volume.” The team aims to attract buyers who are “not just wanting to be flippers, but actually wanting to buy something that [they] love and think is amazing and want to hold on to,” says Bilyeu, who formerly cofounded Quest Nutrition, a protein bar-maker that sold in 2019 to Simply Good Foods, owner of the Atkins diet business, for $1 billion. " Follow the culture " As an artist, Aoki says he strives to stir emotions in his audience, whether through music or through NFTs. “It's all about feeling,” Aoki says. “It should make you feel what we feel, where we're getting chills, where we're like, 'Wow, this is a moment.'” That same principle guides Aoki’s approach to his finances too. “I'm very high risk in certain cases, because I follow my heart,” he says, noting that he often clashes with his more conservative-minded wealth managers. “I jumped into [hotlink]GameStop[/hotlink] one week before that thing blew up, I couldn't believe it,” Aoki says, referring to a well-timed investment he made in the video game retailer's stock before a day trader-driven mania caused the share price to reach incredible heights. “I also put [money] into Dogecoin"—a joke cryptocurrency and frequent subject of speculation—"before that went up, and I pulled out. I made a little money. It wasn't a lot, but I've been very lucky with a lot of investments, being very early.” When people ask how Aoki picks winners, he replies: “My ears are open." He adds, simply, "I follow the culture.” More must-read finance coverage from Fortune : "Seductive charm": There’s a surprising thread linking Ponzi, Madoff, and today’s brazen crypto scammers How a cultural anthropologist embraces finance How much Bitcoin comes from dirty coal? A flooded mine in China just spotlighted the issue The price of lumber is up over 200%—and pre-COVID levels might never return Venmo app adds cryptocurrency trading for the millennial set This story was originally featured on Fortune.com || ‘Absurd’ video of bitcoin mine hooked to an oil well sparks outrage - but it’s complicated: (Twitter) The co-founder of a bitcoin mining company that runs on “waste” by-product from Texas oil wells says that the oil and gas industry is eyeing cryptocurrency operations as a way to burnish green credentials with the public and investors. Bitcoin ‘mining’ requires high-powered supercomputers which compete against other machines to solve complex mathematical puzzles. Several major studies have found that the process devours enormous amounts of energy. Matt Lohstroh’s video of his company’s digital currency operation at an oil well in east Texas went viral last month. The clip shows a gas pipe running from the well site to a generator hooked up to a shipping container with large exterior cooling fans. Inside the container are multiple racks of ‘mining’ rigs connected with hundreds of red wires. Giga Energy Solutions , which he started with a college friend Brent Whitehead in 2019, is not itself extracting fossil fuels to power bitcoin mining but instead using flare natural gas, a by-product from oil extraction which is usually burned off. The process leaves a lower carbon footprint than coal, which largely powers Bitcoin mining that is concentrated in China, distantly followed by the US, Russia, Kazakhstan, Malaysia and Iran. The price of natural gas, one of the fossil fuels driving the climate crisis, has plummeted in recent years. “Economically it’s a waste product,” Mr Lohstroh told The Independent . “Our company goes to an [oil] producer that’s already flaring - and they’ll continue to do this whether we’re there or not - and we say, we’ll take that gas off your hands. It’s zero effort on their part and we’re able to reduce carbon emissions by getting 90 per cent combustion rate in our engines.” The East Texas mining rig, which began operating in January, has yet to gather data on emission reductions. Mr Lohstroh says that generally his company is “having a net benefit on emissions”. “My energy is non-renewable but would otherwise be wasted,” he said. Story continues Bitcoin: Initiated pic.twitter.com/baB58FKw6T — Matt Lohstroh (@lohstroh) February 8, 2021 Giga Energy pays almost nothing for the natural gas. The company has more rigs in multiple locations across East Texas, the second-largest oil field in the US outside Alaska. In states like Texas, where energy regulations are laxer, natural gas by-product can be vented, intentionally releasing gases, predominately potent methane, into the atmosphere. The other option is to set gas on fire in flare stacks to convert methane to carbon dioxide, slightly less dangerous when it comes to heating the planet in the short-term. But even that strategy is not going to last as a growing number of oil companies commit to the World Bank’s Zero Routine Flaring by 2030 initiative . As the fossil fuel industry looks to improve its green credentials, having natural gas siphoned off at source, at practically no cost to them, appears to be a lucky break. Mr Lohstroh said the oil company, which he declined to name to The Independent , have no outlay for the cryptocurrency operation. Equipment, installation, and maintenance costs are paid for by the bitcoin miners. “They’re getting zero for this gas anyway so it makes almost no difference whether we’re on that well-site or not,” he said. “What it does is helps these oil and gas companies achieve an Environmental, Social, and Corporate Governance (ESG) mandate, reducing carbon emissions.” Increasingly ESGs, which refers to the sustainability and societal impact of an investment in a company, have become a major factor for global investors. He added: “We’ve had publicly-traded companies reach out to us and say, ‘We don’t even care if we lose money on this. We want to improve our public opinion and then help reduce carbon emissions from our flaring.’” But there remains a glaring issue. In the past decade bitcoin has risen from a fringe technology popular with cryptographers to the world’s ninth most valuable asset by market cap. Cambridge Centre for Alternative Finance The cryptocurrency‘s dramatic ascent has created millionaires, reimagined money, and launched a multi-billion dollar industry inspired by its revolutionary decentralised technology. But it has damaging side effects. Analysis by the University of Cambridge suggests the network uses more than 121 terawatt-hours (TWh) annually, which would rank it in the top 30 electricity consumers worldwide if it were a country. At current rates bitcoin, currently valued at $57,340, needs the same amount of energy annually as the Netherlands did in 2019, according to Cambridge and the International Energy Agency’s latest data. Alex de Vries, founder of Digiconomist which examines consequences of new technologies, and a data scientist focusing on financial economic crime for De Nederlandsche Bank, called the oil well-bitcoin mining rig set-up “absurd”. “It’s mind-blowing the suggestion that it is somehow helping the environment to use a by-product of fossil fuel extraction for bitcoin mining,” he told The Independent . “We don’t have a climate change problem because fossil fuel companies are not efficient enough. And if you make the operation more efficient, you are not helping the environment anyway. Intuitively it just doesn’t make sense. “Firstly, it’s adding to the bottom line of fossil fuel extraction and secondly, it’s still burning fossil fuels. We want to accelerate away from fossil fuels. We don’t want to make fossil fuels more profitable. I can’t wrap my head around it.” He’s not the only one pointing out cryptocurrency’s climate problems. “Bitcoin uses more electricity per transaction than any other method known to mankind, and so it’s not a great climate thing,” Bill Gates, a longtime bitcoin skeptic, recently told The New York Times . MrLohstroh denied that companies like his are propping up the fossil fuel industry at a time when climate scientists tell us we must rapidly transition to clean energy to prevent climate catastrophe. Independent analysis this week found that the US needs to cut emissions by almost two-thirds in the next nine years to remain on track for net zero emissions by mid-century. The Biden administration has promised aggressive action including transforming the power sector to clean energy by 2035. The bitcoin mine founder says he did not believe 100 per cent renewables was possible in 15 years’ time considering how dependent society remains on oil and gas, highlighting the lack of major breakthroughs in battery storage technologies for clean power. “We believe that the [clean] energy transition is a lot further out than what most people think,” he said. “Our world operates on oil and gas. If we continue to produce oil for goods and services, natural gas is a byproduct of that and our business model will still be around.” Bitcoin’s carbon footprint only looks set to get larger. The market is currently worth around $1trillion with 1.3 per cent of the global population owning cryptocurrency, according to one estimate . But with some of the world’s richest and most powerful investors jumping onboard, it could turbocharge global use of the digital currency. Among these investors are the established financial firm, Guggenheim Partners, Twitter founder Jack Dorsey and even Elon Musk, the low-carbon tech mastermind behind zero-emissions vehicle company Tesla. Bitcoin enthusiasts say having big players in the market makes incentives like a “green bitcoin” more likely, and that companies could buy carbon credits to compensate power usage. Governments adopting more aggressive policies to tackle the climate crisis might also help. Estimates on bitcoin’s reliance on fossil fuels versus renewables vary, with detailed data on bitcoin mining’s energy breakdown hard to come by. Chinese miners account for about 70 per cent of bitcoin production, data from Cambridge’s Centre for Alternative Finance shows. They tend to use renewables, mostly hydropower, during the rainy summer months, but fossil fuels - primarily coal - the rest of the year. “Every miner’s objective is making a profit, so they don’t care about what kind of energy they use, if it is generated by hydro, wind, solar or burning coal,” Jack Liao, CEO of Chinese mining firm LightningAsic, told Reuters. A 2019 white paper produced by CoinShares, a digital asset investment firm, estimated “the renewables penetration in the energy mix powering the Bitcoin mining network at 73 per cent” and claimed it is “more renewables-driven than almost every other large-scale industry in the world”. Bitcoin enthusiasts argue that as the power grid switches to renewable energy so too will bitcoin.“It’s not so much bitcoin that is the problem.” Yves Bennaim, the founder of 2B4CH, a cryptocurrency think-tank, told Reuters . “People are saying it’s energy intensive therefore it’s polluting, but that is just the nature of the energy we are using today. As bitcoin goes up there will be more incentive to make investments in renewable sources of energy.” Mr Lohstroh, and other cryptocurrency proponents point to the vast energy consumption of the existing financial system, and counter climate arguments by saying bitcoin is a tool for protecting human rights as it creates an electronic financial system without borders, where assets cannot be seized. Advocates also say the average bitcoin transaction is in the tens of thousands of dollars, compared to the small dollar amounts of average traditional electronic transactions. This doesn’t mean that its without ethical and compliance issues. US Treasury Secretary Janet Yellen said last month that while she saw the promise of cryptocurrencies, it’s use for illicit purposes is a “growing problem”. “I see the promise of these new technologies, but I also see the reality: Cryptocurrencies have been used to launder the profits of online drug traffickers; they’ve been a tool to finance terrorism,” she said. Mr De Vries, who created a bitcoin energy consumption index, also took issue with a simplistic view that bitcoin would be part of a clean energy transition. He noted that bitcoin winners would be those working with the most powerful and fastest machines, and would keep resorting to the current cheapest and most stable source of power, fossil fuels. Additionally, he pointed out that the computers worked best in the first six months, and because the specialized hardware cannot be repurposed, a mountain of e-waste was growing. Crypto networks were also piling pressure on a global chip shortage - incidentally, the same ones Tesla needs for its vehicles. “If bitcoin were to scale up, it would seem like that’s going to go a lot faster than we’re capable of cleaning up our grid,” he said. “Then it’s going to have such a big impact on the world and might delay our ability to reach climate targets.” Read More ‘Inequalities will become even more entrenched’: Why climate change is a feminist issue Government intervenes in plan for Cumbria coal mine after climate backlash How Joe Biden’s campaign promises are shaping up after 50 days, from climate change to immigration reform What is an NFT and how do you buy it? The new ‘bitcoin for art’ trend explained || Bitcoin & Blockchain Gain Prominence: 4 Top Stocks to Buy: Bitcoin’s scintillating rally in 2021 shows its rapid evolution from being a mere buzzword to a powerful digital currency. The cryptocurrency is up more than 99% year to date and has surpassed $1 trillion in market capitalization.Bitcoin’s rally is also helping the underlying blockchain technology gain prominence. Blockchain is actually an electronic distributed ledger. It is relatively faster in closing a transaction as the need for manual processing and authentication by intermediaries is eliminated as it deploys a distributed consensus.Moreover, as blockchain uses distributed consensus, it is difficult to alter data on the system without alerting the entire network. This makes the system enormously secure.Both bitcoin and blockchain present significant investment opportunities. Let’s dig deep.
Bitcoin has shown promises of becoming a widely-accepted digital currency, thanks to recent endorsements by institutional investors.Tesla’s TSLA investment of $1 billion in bitcoin and its plan to accept the digital currency as a payment instrument for its cars have been a game changer for the cryptocurrency.Moreover, Twitter’s CEO Jack Dorsey along with rapper Jay Z recently launched a bitcoin development fund by investing 500 bitcoins.SquareSQ, which is also headed by Dorsey, recently bought $50 million worth of bitcoin. Further, Square peers Paypal and Mastercard have been taking initiatives to embrace the digital currency.Further, the world’s largest institutional holder of the digital currency - Grayscale Bitcoin Trust - plans to convert the trust into an exchange-traded fund (ETF). Additionally, Coinbase Global, the largest U.S. cryptocurrency exchange, is set to trade publicly through direct listing on Apr 14. Both these developments are expected to boost bitcoin’s attractiveness among investors.Of late, banking giants J.P. Morgan and Goldman Sachs have shown interest in dealing with bitcoin. Markedly, bitcoin faces significant regulatory pressure around the world. Central banks have been reluctant to approve bitcoin’s legitimacy, primarily due to its volatility, which has hindered crypto’s potential to gain mass adoption. In fact, the Securities and Exchange Commission has so far declined to approve a bitcoin ETF due to volatility and lack of price transparency.Banks, among financial institutions, generally face significant regulatory scrutiny because of their role in the economy. This has been a major reason behind their reluctancy in accepting bitcoin. In fact, during 2017 rally, J.P. Morgan CEO Jamie Dimon famously called bitcoin a ‘fraud,’ and “worse than tulip bulbs,” referring to the Dutch tulip bubble burst in the 1600s. Hence, likely change in stance by banking majors bodes well for bitcoin’s future in the long haul.In fact, the pandemic has raised the need for an alternative currency. Bitcoin has been benefiting from solid adoption by millennials and Gen X, who are looking to hedge against coronavirus-induced weakness in traditional currencies, including U.S. dollar as well as inflation.
Blockchain is enabling enterprises and government agencies to tackle prominent issues, including data tracing, security, visibility and management, and supply chain supervision.The technology is being utilized to enhance smart payment systems, secure financial transactions, advance shipping and transportation, modernize government agencies and institutions, and even detect critical illnesses.Markedly, per Fortune Business Insights report, the worldwide global market for blockchain is forecast to witness a CAGR of 56.1% between 2020 and 2027 and reach $69.04 billion. Moreover, according to PwC, blockchain has the “potential to add $1.76 trillion to the global economy by 2030.”
Here we discuss four stocks that are well-poised to gain from the growth opportunities presented by bitcoin as well as blockchain’s growing prominence. These stocks sport a Zacks Rank #1 (Strong Buy) or 2 (Buy). You can seethe complete list of today’s Zacks #1 Rank stocks here.Marathon Digital HoldingsMARA produced 196 newly minted bitcoins in the first quarter of 2021, increasing total bitcoin holdings to 5,134.2 that has a market value of roughly $301.9 million, as of Mar 31, 2021.This Zacks Rank #1 company’s active mining fleet at the end of the reported quarter consisted of nearly 6,800 miners, generating approximately 0.71 Exahash per second (EH/s).Moreover, Marathon recently announced a North American bitcoin mining pool, which will be in compliance with the U.S. cryptocurrency regulations, thanks to technology licensed from DMG Blockchain. The pool will be accepting new miners beginning June 2021.The Zacks Consensus Estimate for its 2021 earnings has been revised upward by 75% in 60 days’ time to $2.10 per share.
Marathon Digital Holdings, Inc. price-consensus-chart | Marathon Digital Holdings, Inc. Quote
One of the first publicly-traded blockchain companies,Riot BlockchainRIOT is riding on its efforts to expand and upgrade mining capabilities, securing the most energy efficient miners currently available. This Zacks Rank #2 company produced 302 newly mined bitcoin in the fourth quarter of 2020. In January and February 2021, Riot produced 125 and 179 newly-mined bitcoin, respectively.Markedly, in February, Riot achieved an estimated hash rate capacity of 1.06 EH/s with the deployment of the newly received 2,002 S19 Pro Antminers. The company is on track to triple its current deployed capacity by the fourth quarter of 2021.Additionally, Riot’s focus on reducing the cost of bitcoin production is expected to boost profitability.The Zacks Consensus Estimate for its 2021 earnings has been revised upward by 178.6% in 60 days’ time to $1.95 per share.
Riot Blockchain, Inc. price-consensus-chart | Riot Blockchain, Inc. Quote
Another Zacks Rank #2 company,NVIDIANVDA, is benefiting from strong demand for mining cryptocurrencies. Markedly, crypto mining contributed revenues between $100 million and $300 million in fourth-quarter fiscal 2021.The company recently launched Cryptocurrency Mining Processor (CMP), a product line for professional mining. CMPs enables improved airflow while mining and also have a lower peak core voltage and frequency, which improve mining power efficiency. For the first quarter of fiscal 2021, NVIDIA expects CMP to contribute revenues of $50 million.The consensus mark for fiscal 2022 earnings stands at $13.37 per share, having moved 15.1% north over the past 60 days.
NVIDIA Corporation price-consensus-chart | NVIDIA Corporation Quote
Finally,Microsoft’s (MSFT) endeavors with blockchain technology are noteworthy. The company’s Azure Blockchain Service is a fully-managed ledger service that provides support for the Ethereum Quorum ledger using the Istanbul Byzantine Fault Tolerance (IBFT) consensus mechanism.Last year, Microsoft and Ernst & Young LLP announced the expansion of the former’s blockchain-based solution for gaming rights and royalty management.Moreover, in March 2021, Microsoft’s Decentralized Identity team launched the ION Decentralized Identifier (DID) network on the Bitcoin mainnet. The network uses bitcoin’s blockchain to create digital IDs for authenticating identity online.The Zacks Consensus Estimate for this Zacks Rank #2 company’s fiscal 2021 earnings has been revised upward by 0.4% in 60 days’ time to $7.37 per share.
Microsoft Corporation price-consensus-chart | Microsoft Corporation Quote
Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>
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 reportNVIDIA Corporation (NVDA) : Free Stock Analysis ReportTesla, Inc. (TSLA) : Free Stock Analysis ReportSquare, Inc. (SQ) : Free Stock Analysis ReportMarathon Digital Holdings, Inc. (MARA) : Free Stock Analysis ReportRiot Blockchain, Inc. (RIOT) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 38402.22, 39294.20, 38436.97, 35697.61, 34616.07, 35678.13, 37332.86, 36684.93, 37575.18, 39208.77
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2019-07-02]
BTC Price: 10801.68, BTC RSI: 55.27
Gold Price: 1404.60, Gold RSI: 68.77
Oil Price: 56.25, Oil RSI: 47.58
[Random Sample of News (last 60 days)]
Bitcoin Price Trades Flat on Facebook Libra Blockchain Launch: • Theunveilingof Facebook’s Libra cryptocurrency has failed to put a strong bid under BTC. The cryptocurrency may be vulnerable to a “sell the fact” pullback, too.
• The 4-hour chart indicates scope for a drop to $8,800. A break lower would expose key average located at $8,500.
• On the higher side, a high-volume above the crucial Fibonacci retracement level of $9,442 is needed to strengthen the case for a rise to $10,000.
Bitcoin (BTC) is struggling to gather upside traction following Facebook’s official announcement of its Libra cryptocurrency project.
At 09:00 UTC today, the social media giantunveiledits highly anticipated and until-now secretive cryptocurrency, Libra, which will run on a blockchain network secured at launch by 100 distributed computer servers, or nodes.
Facebook’s foray into cryptocurrency is widely beingreferred toby some experts as the most bullish external tailwind for bitcoin in 2019/2020.
Related:A New Bitcoin Exchange On the Colombian-Venezuelan Border Will Help Refugees
Even so, bitcoin’s price is struggling to gain altitude, having added meager $80 following Facebook’s white paper launch. As of writing, the leading cryptocurrency by market value is changing hands at $9,214 – down 2.8 percent from a 13-month high of $9,477 hit on Tuesday.
Bitcoin’s lackluster response validates our argumentput forwardon Monday that the markets priced in the news over the weekend, when the cryptocurrency rallied from $8,200 to highs above $9,300.
As a result, bitcoin now faces the risk of a “sell the fact” price pullback, with the short duration technical charts telling a similar story signals.
Related:70% of Crypto Exchanges Have Complied With CoinMarketCap’s Transparency Initiative
The relative strength index (RSI) has produced lower highs over the last 24 hours, contradicting the higher highs on price.
That bearish divergence indicates the bulls are running out of steam and a correction could be in the offing.
The indicator has also dived out of the ascending trendline. Further, buy volumes (green bars) have been lower than sell volumes (red bars) over the last 48 hours, also implying buyer exhaustion.
The price could drop to key support at $8,821 (marked by horizontal line) over the next 24 hours. A violation there would expose the 10-day price average, currently located at $8,500.
In fact, a much deeper pullback could be seen if consensus builds in the marketplace that Facebook’s Libra is a more stable, cheaper and an easier to use medium of exchange than bitcoin. After all, Facebook wants to tap into bitcoin’s potential market of unbanked citizens in nations with high inflation, which could be “bad news for bitcoin,”tweetedPeter Schiff, CEO of Euro Pacific Capital.
That said, the bullish case would strengthen if BTC finds high-volume acceptance above $9,442 – the 38.2 percent Fibonacci retracement of the sell-off from December 2017 highs to December 2018 lows. That would open the doors to $10,000.
The long-run outlook remains bullish, with the monthly chart reporting a falling channel breakout and a bullish crossover of the 5- and 10-candle MAs.
The bullish bias will remain intact as long as the price is held above May’s low of $5,263.
Disclosure:The author holds no cryptocurrency at the time of writing
Bitcoinimage viaShutterstock; charts by TradingView
• Brazilian Financial Authorities Announce Regulatory Sandbox For Blockchain
• 3 Reasons Bitcoin Is Rallying Above $9K || How can cryptocurrency improve cross-border payments?: Bitcoin can be viewed as an uncensorable form of money that can be sent by anyone to anywhere in the world. It can be sent much cheaper and more quickly than traditional methods, thereby improving cross-border payments and bypassing third parties. Bitcoin isn’t the only cryptocurrency capable of this feat either. The current predicament In an increasingly globally-connected world, sending money from one person to another, from one bank to another, and from one country to another has proved difficult. Large fees can be applied and the process can take days to clear. There are a few reasons for this. Firstly, the movement of money can be contentious. Anti-money laundering laws are in place so that criminals are not able to hide their ill-gotten funds from governments wanting their tax money. This is undercut however through the use of tax havens such as the Cayman Islands. The release of the Panama Papers showed how ineffective these anti-money laundering rules can be. Companies such as Western Union or PayPal base their business model off the fees collected for transferring money, so it is never going to be as cheap as one would like. New companies though are beginning to make a dent in this market. This is in part due to the influence cryptocurrencies have had, as they highlight how money can be moved anywhere cheaply and quickly. How does Bitcoin solve this problem? Bitcoin is independent of any state or third party. Should an American wish to send Bitcoin to a country with strict sanctions such as Iran, there is relatively little that the US government could do about it. They can not control Bitcoin or how people use it. The other important factor for Bitcoin is that the fees when compared to traditional methods are extremely cheap. This again is due to the lack of a third party. There is no profit motive behind Bitcoin – the money is used on a fair basis. Critics of Bitcoin, particularly those in the Bitcoin Cash camp , will argue that the fees for Bitcoin have already become too high as it has failed to scale. They go on to state that Bitcoin Cash provides the benefits of cheap international money transfers thanks to its larger block scaling solution. Story continues What about Ripple? XRP, or Ripple, is another cryptocurrency that can be used as a cross-border payments solution. XRP is a hotly-debated cryptocurrency, with some arguing that it isn’t a cryptocurrency at all. The current international financial system runs on the SWIFT network and has done so since the 1970s. The Society for Worldwide Interbank Financial Telecommunication is what Ripple hopes to replace with its protocol. Ripple claims its platform is quicker and cheaper and still has all the benefits of a cryptocurrency. Whether these claims are true is a debate that will continue to run on. Ripple also claims that many banks have begun to test its technology, but despite being around for many years now, we have seen relatively few real-world use cases. The criticism Ripple receives is largely due to the different philosophies between the Ripple and Bitcoin camps. Bitcoin aims to overthrow the current financial system and Ripple wants to incrementally improve it. What is not in doubt is that both cryptocurrencies are both quicker and cheaper than the traditional system of cross-border payments. Will we see new regulations? Traditionally, financial institutions have been reluctant to change. The arrival of Bitcoin, despite plenty of discussion on forums, came out of the blue for many in the traditional finance sector. The same can also be said for governments and their regulators. Therefore, many countries have been extremely slow to adapt and regulate this new industry in a productive manner. Although transactions through the Bitcoin blockchain have become easier to trace thanks to advances in technology, this is being combated by Bitcoin developers who hope to improve the privacy of Bitcoin through upgrades such as Schnorr Signatures. Whether this will make money laundering easier in an ever-increasing global economy remains to be seen. However, if you are looking to send money overseas, then cryptocurrencies are now a clear alternative that many argue perform better than the traditional system. Conclusion Many cryptocurrencies have lofty goals of changing the world, from helping to serve the unbanked to removing the effects of fiat money from the world economy. Cross-border payments are a clear example of the benefits that cryptocurrencies can provide. As development continues, cryptocurrency should only become an easier and much better solution for sending money overseas. The post How can cryptocurrency improve cross-border payments? appeared first on Coin Rivet . || Litecoin Price Hits 11-Month High Above $100: The price of litecoin (LTC) was quoted in three digits across cryptocurrency exchanges earlier today.
The fifth largest cryptocurrency by market capitalization jumped to $107.71 at 02:00 UTC, the highest level since June 12, 2018, according to CoinDesk’sLitecoin Price Index.
The bullish move has stalled in the last few hours, though, with the price currently trading around $94, representing a 1 percent gain on a 24-hour basis.
Bitcoin Faces Price Correction Toward $7.6K, Technical Charts Suggest
Litecoin isn’t the only crypto rallying today, either. Other prominent cryptocurrencies like ethereum’s ether, XRP, EOS and Binance coin are also flashing green. Notably, ether (ETH) jumped to $272 earlier today, the highest level since Sept. 5 and is currently the best performing top 10 cryptocurrency of the last 24 hours, according toCoinMarketCap.
The alternative crypto assets have found love in the last 48 hours as bitcoin’s bullish momentum is showing signs of weakness. The leading cryptocurrency by market value printed a fresh 10-month high of $8,360 in Asian trading hours today, only to quickly fall back below $8,000, as per CoinDesk’sBitcoin Price Index.
With bitcoin struggling to maintain gains above $8,000, investors may continue to pour money into altcoins. Litecoin, in particular, could shine bright over the next few weeks, as the miningreward halvingis now less than 90 days away.
On Aug. 6, the reward for mining coins on litecoin’s blockchain will drop from current 25 LTC to 12.5 LTC. The process, aimed at curbing inflation, is repeated every four years and markets tend to price in the supply-altering event well in advance, according tohistorical data.
Crypto Exchange Binance Restarting Services After Post-Hack Upgrade
LTC/USD (above left) jumped above $100 earlier today,as expected, having witnessed a falling wedge last month and an inverse head-and-shoulders breakout on May 14.
The bullish price action is accompanied again by an overbought reading an (above-70 reading) on the relative strength index (RSI).
However, with reward halving due in less than three months, pullbacks, if any, will likely end up fueling stronger price rallies toward $155, which is the 38.2 percent Fibonacci retracement of the sell-off from December 2017 highs to December 2018 lows.
The bullish view would be invalidated if LTC violates the current higher lows, higher highs pattern on the RSI with a move below 68.83. That could happen if bitcoin falls sharply toward $5,000.
Even then, LTC may outperform BTC, courtesy of the reward halving boost, leading to a big rise in LTC/BTC, which is currently trapped in a falling channel (above right).
Disclosure:The authors hold no cryptocurrency assets at the time of writing.
Litecoinimage via Shutterstock; charts byTrading View
• Bitcoin Price Rally Stalls As Ether, XRP Shine
• Coinbase Rolls Out Trading in USDC Stablecoin to 85 Countries || Why Bitcoin Isn’t Gold 2.0: Juan Carlos Artigas Juan Carlos Artigas is director of investment research at the World Gold Council. He authors many of the gold research reports published by the WGC and is an expert on the factors affecting the price of the yellow metal. Artigas argues that gold is a unique asset with characteristics not found in any other asset, including bitcoin specifically and cryptocurrencies more broadly. ETF.com recently spoke up with Artigas to get his views on the bitcoin versus gold debate. (For the flip side of this gold coin debate, read: “ ‘Drop Gold For Bitcoin” ) ETF.com: There has been a push by some cryptocurrency enthusiasts to get investors to drop gold in favor of bitcoin. They're calling bitcoin "gold 2.0,” “digital gold” and such. How do you respond to people who’re trying to get investors to shun gold in favor of bitcoin? Juan Carlos Artigas: That speaks to the misunderstanding on the role gold plays in society, not only in the monetary system but more broadly, as part of our modern culture. Gold has been used as means of exchange and as a currency for millennia—it was backing up global currencies up until 1971. Even today, gold forms an integral part of foreign reserves for central banks around the world in developed and emerging markets. But there's also a large portion of gold that’s used for other purposes, such as in jewelry and technology. In fact, many of the computers used to mine bitcoin rely on gold components to properly function. We certainly agree there’s a lot of innovation and technological changes that’re going to improve many aspects of financial markets—including blockchain technology. But it’s not accurate to say that bitcoin in particular, or any specific token for that matter, is replacing or should replace gold, because they serve very different purposes. I understand why some people may want to use gold as a marketing tool to try and get investors to do something. After all, everybody in the world knows about gold. Tying another asset to gold is a good marketing strategy, but the data doesn’t support the idea of bitcoin replacing gold. ETF.com: What would you point to in order to convince someone that gold’s still superior to bitcoin, or at the least, serves a different purpose than bitcoin? Story continues Artigas : If you look at the performance of cryptocurrency tokens over the past five years, there’s been a pattern of very strong rallies and then substantial pullbacks in the price. People claim that these tokens are safe havens, but in Q4 [fourth quarter of 2018], we saw exactly the opposite. When the stock market pulled back, cryptocurrencies were plunging along with it. On the other hand, gold prices increased. Investors need to understand gold is very unique, because it has a dual nature that pretty much no other asset does. On the one hand, there are physical applications— jewelry and technology—that’re positively linked to the expansion of the economy. On the other hand, you have the investment side that’s countercyclical and is linked to investors' use of gold as a way to preserve capital, as a safe haven. This dual nature is very unique to gold. If you look at other assets, you’re not going to find something that behaves like gold from that perspective. ETF.com: You’ve pointed to the fact that gold has acted much more like a safe haven than bitcoin during periods of market turmoil. What about the idea that bitcoin has a leg up on gold because its supply is permanently capped? Artigas: Bitcoin supply may be fixed, but there are more than 2,000 cryptocurrencies out there. Nobody knows if bitcoin is going to be the one that remains instead of ethereum or something else that comes up that has a better program. In the end, the way society ends up using blockchain may be completely different from the perspective of a currency. It may be a different solution even if it's still utilizing tokens. I don't know how bitcoin will look in the future. What I can tell you though, with a good degree of confidence, is that gold will remain an asset that has a very unique set of properties through its dual nature and through its supply-and-demand dynamics, that make it useful for many investors, especially when they’re trying to hedge systemic risks. Bitcoin today may not be what bitcoin is in the future. Cryptocurrencies today aren’t necessarily what cryptocurrencies will be in the future, because they’re still in their infancy, and there's still a lot of stuff in terms of regulation and other considerations that may change the behavior of those investments. Email Sumit Roy at [email protected] or follow him on Twitter @sumitroy2 Recommended Stories ProShares Closing 3 ETFs All ETF Inflows/Outflows Aren’t The Same Investors Plow Into Treasury ETFs This Week VanEck Aims To Be Agile Permalink | © Copyright 2019 ETF.com. All rights reserved || 3 Reasons to Be Excited About Vietnam ETF: This article was originally published onETFTrends.com.
TheVanEck Vectors Vietnam ETF (VNM) , the lone US-listed exchange traded fund dedicated to Vietnamese stocks, has recently been ensnared in international headline risk, but some analysts see reasons to be excited about the fast-growing Southeast Asian economy.
VNM, which debuted in August 2009, follows the MVIS Vietnam Index. That index “is comprised of securities of publicly traded companies that are incorporated in Vietnam or that are incorporated outside of Vietnam but have at least 50% of their revenues/related assets in Vietnam,”according to VanEck.
Fitch Ratings recently boosted its outlook on Vietnam's credit rating to Positive from Stable while reiterating a BB rating.
“The revision of Vietnam's Outlook to Positive from Stable reflects an improving track record of economic management, which is evident in strengthening external buffers from persistent current account surpluses, falling government debt levels, high economic growth rates and stable inflation,”said the ratings agency in a note.
What's Next for Vietnam Investing
Vietnam is angling for a promotion to emerging markets status. The country is currently classified as a frontier market by the major index providers. Vietnam has some issues to address before gaining that coveted promotion, including low per capita income and the need to recapitalize some banks.
“The authorities are maintaining their policy focus on macroeconomic stability. GDP growth improved to 7.1% in 2018 from 6.8% in 2017 while inflation remained stable at 3.5%, within the National Assembly's target of below 4%,” according to Fitch. “Growth remained supported by strong foreign direct investment (FDI) into the manufacturing sector as well as expansion in the services and agriculture sectors.”
VNM allocates a combined 42.50% of its weight to real estate and financial services stocks. The ETF also features robust exposure to the Vietnamese consumer as the consumer staples and discretionary sectors combine for 26.60% of the fund’s weight.
“We expect growth to slow in 2019 to around 6.7%, still within the National Assembly's target of between 6.6% and 6.8%,” said Fitch. “Growth in Vietnam, which has a high degree of trade openness, is likely to be affected by slowing global growth and US-China trade tensions, which will weigh on regional trade flows and sentiment. Vietnam would nevertheless remain among the fastest-growing economies in the Asia-Pacific and in the 'BB' rating category globally.”
For more information on Vietnam ETFs, visit ourVietnam category.
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READ MORE AT ETFTRENDS.COM > || A look at Bitcoin’s ‘Coin Days Destroyed’: The concept of Coin Days Destroyed (CDD) was introduced in a 2011 Bitcoin Forumthreadby user “ByteCoin” as an alternative to transaction volume. The logic behind the proposal was that CDD was a more appropriate measure of the economic activity in Bitcoin.
Instead of measuring the transaction volume, which can be manipulated by one individual moving the same coins back and forth multiple times, CDD gives more weight to coins that have captured more time prior to being moved. For example, someone moving 1 BTC they received 300 days ago would hold just as much weight as someone moving 300 BTC they received one day ago.
Join Genesis nowand continue reading,A look at Bitcoin’s ‘Coin Days Destroyed’! || Want to buy Ethereum with PayPal? Here’s how to do it: PayPal can be an attractive way of buying Ethereum if you’re unable to make bank transfers in your country of residence or you don’t want to pay the hefty bank fees that are applied when converting currencies. Unfortunately, it is incredibly difficult to find cryptocurrency exchanges that accept PayPal when buying any form of digital currency. VirWoX, the crypto exchange platform, was a firm favourite among those wishing to buy crypto with PayPal, but it was recently revealed it is no longer accepting PayPal for deposits or withdrawals. And although Coinbase lets users sell Bitcoin and have their US dollars deposited to a PayPal wallet, it doesn’t let you buy digital currency using your PayPal account. Creative options It has been suggested that PayPal is wary of cryptocurrencies following a series of chargeback cases created by scammers, who bought Bitcoin using PayPal and then claimed they didn’t receive anything. Since Bitcoins are untraceable, there is no way of checking whether such claims are true or not. Despite this, it is still possible to buy Ethereum with PayPal. You just need to be willing to explore some of the more “creative” options out there. The two most viable methods to buy Ethereum with PayPal are via a contracts for difference (CFD) broker or a peer-to-peer exchange. Buying Ethereum using a CFD broker A convenient, secure, and fast way to buy Ethereum with PayPal is to use a CFD broker such as eToro. Marketed as a “social trading network”, eToro’s core purpose is to let people mimic the transactions of more experienced traders. It started supporting cryptocurrencies in 2017. eToro users can either buy one of the 14 crypto-assets listed on the platform or trade against their prices using CFDs. A CFD is a form of derivative trading which lets you take a position on a financial instrument without actually owning it. Buying Ethereum with PayPal on eToro is pretty straightforward. You create an account, submit how much money you wish to deposit, and select PayPal as your deposit method. Once the transaction is complete, you can then buy Ethereum. Story continues A major advantage of eToro is it is regulated in three jurisdictions, including the UK, thus offering peace of mind for investors. Similar CFD platforms to consider are Plus500 and Investous. Buying Ethereum using a peer-to-peer exchange A peer-to-peer exchange such as localethereum.com lets individuals anonymously connect with one another to buy and sell Ethereum. It’s a bit like eBay for Ethereum. Registering is free and you can trade in any country in the world. Once you’ve registered at localethereum.com, you need to select PayPal as your payment method. Your next step is to find an appropriate seller by browsing their location, the price they’re selling Ethereum for, how much they’re willing to sell, and how many trades they’ve previously completed. After choosing a seller, you can set how much Ethereum you want to buy. You’ll receive details of the PayPal address to send your funds to. An alternative peer-to-peer exchange, which has been around a lot longer, is LocalBitcoins. If you find someone willing to sell their Bitcoins in return for a PayPal payment, you could then convert your Bitcoins to Ethereum on an exchange platform like Changelly. An advantage of using peer-to-peer exchanges is you don’t have to go through lots of identity verification procedures before you can use the exchange. However, unlike traditional exchanges, you’re at the mercy of the seller responding to your request. Sellers on localethereum.com who have a lightning bolt icon are more likely to respond quickly. The most important thing is to ensure you find a reputable seller, as the risk of fraud on peer-to-peer exchanges is very high. Have a look at the seller’s trading history and user feedback before you agree to a deal. Conclusion PayPal’s strict view towards cryptocurrencies has made it more difficult to buy Ethereum with PayPal, but it is still possible if you’re willing to use alternative exchanges. Just make sure you’ve done your due diligence – whether that’s of the platform itself and/or the individual seller – before handing over your funds. For more news, technical analysis, and cryptocurrency guides, click here . The post Want to buy Ethereum with PayPal? Here’s how to do it appeared first on Coin Rivet . || Grayscale Hits $3 Billion in Crypto Assets as Bitcoin Price Rages On: Crypto investment firm Grayscale is now managing over $3 billion in crypto assets. | Source: Shutterstock The price of bitcoin has more than tripled this year, making it one of the best performing asset classes out there. Not surprisingly, institutional investors have piled into bitcoin to take advantage of the terrific price rally and mint more money. Chart showing bitcoin price. This is evident from the latest data from bitcoin-focused investment firm Grayscale, whose total assets under management (AUM) just crossed the $3 billion mark. 6/26/19 UPDATE: Holdings per share, net assets under management and digital assets per share for our investment products. Total AUM: $3.0 billion $BTC $BCH $ETH $ETC $ZEN $LTC $XLM $XRP $ZEC pic.twitter.com/pDDGyif5kj Grayscale (@GrayscaleInvest) June 26, 2019 Bitcoin is getting love from institutional investors Analysts expected institutional investors to drive into cryptocurrencies this year, and that has been the case so far. Story continues Grayscale reported in May that hedge funds went on a bitcoin buying spree. In the first quarter of 2019, hedge fund inflows into Grayscales products shot up to $24 million as compared to just $1 million in Q4 2018. The firm also added that 56% of its total investments during the quarter were driven by hedge fund inflows, leading to a 42% quarter-over-quarter jump in the firms total inflows. Grayscales publicly-quoted Bitcoin Investment Trust (GBTC) seems to be the biggest beneficiary of the hedge fund inflows. The product accounted for nearly $2.85 billion of the firms total assets under management according to the latest report. Read the full story on CCN.com . || P2P Bitcoin Exchange HodlHodl Launches Lightning Network Support: Non-custodial peer-to-peer ( P2P ) bitcoin ( BTC ) exchange HodlHodl announced Lightning Network support in a Medium article published on June 5. The announcement claims that now “everyone is able to buy bitcoins and receive them directly into their Lightning wallet & sell bitcoins directly from their Lightning wallet .” The post also notes that the platform has previously tested Lightning Network support on the test network. The company reportedly only implemented Lightning Network support after successful testing. The post further highlights that the actual procedure will not be much different when compared to the usual HodlHodl transaction: “The only difference is that for the contract lifetime we hold funds in our Lightning wallet which protects both buyer and seller from scams, and the contracts become cheaper, faster and simpler. ” Lastly, the company notes that the implementation will not affect the rest of the platform, and that the regular bitcoin on-chain multisignature contracts used on the platform will still be non-custodial. As Cointelegraph reported yesterday, P2P crypto exchange LocalBitcoins — HodlHodl’s major competitor — has officially confirmed the removal of trading in local fiat currencies. LocalEthereum, the similarly-named platform catering to ether ( ETH ) traders, announced it had removed cash transaction fees as a direct response to LocalBitcoins’ action. Related Articles: LocalBitcoins Confirms Removal of Local Cash Trades Egypt Lays Out Path for a Crypto Future With Draft Law Binance Hires Former NBA, Dell Exec to Head Global Strategy Initiatives Crypto Trading Platform OKCoin Expands Its Services and Opens Office in Malta || South Korea Convenes Pan-Governmental Meeting Amid Concern Over Crypto Market Spike: A South Korean pan-governmental meeting has reportedly been held to establish closer monitoring of the countrys cryptocurrency market amid the recent sharp uptick in crypto valuations. The news was reported by local broadcasting station KBS World Radio on May 28. Todays meeting, led by the Minister of the Office for Government Policy Coordination, Noh Hyeong-ouk, was largely prompted by bitcoin (BTC)s recent break above 10 million won (~$8,400), the report states. The coin last hit a similar valuation around a year ago, with local officials ostensibly interpreting the fresh surge as a sign of a possibly overheating market. Meeting participants reportedly included officials from the Ministry of Economy and Finance, the Justice Ministry and the countrys financial regulator, the Financial Services Commission (FSC). Areas of focus included a plan to closely surveil domestic crypto exchanges and to intervene in a bid to minimize ramifications for investors should the market continue to pump. Other plans include a pledge to take robust action against any detected fraud by maintaining close coordination between law enforcement authorities and the FSC. In addition, the meeting established the need to swiftly pass a pending revision to the countrys Financial Information Act, which would outlaw money laundering by crypto exchanges. As Cointelegraph reported last month, research from software firm DataLight has suggested that the United States , Japan and South Korea are the worlds biggest fans of crypto exchanges . The report further claimed that bitcoins recent price surge had prompted associated phenomena notably including South Koreas erstwhile Kimchi Premium surcharge to reappear , with DataLight proposing the events contributed to the exchange visit rates. Related Articles: Africa: Central Bank of Malawi Says Crypto Is Not Legal Tender, Warns of Trading Risks Central Bank of Russia Expects Crypto Draft Bill to Be Adopted in Spring 2019 Japanese Parliament Moves New Crypto Regulations to the Upper House Russia Delays Adoption of Crypto Regulation Due to FATF Order to Legislate Bitcoin
[Random Sample of Social Media Buzz (last 60 days)]
@notgrubles @APompliano Bitcoin is not a virus
BITCOIN 👏 IS 👏 THE 👏 CURE
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$IOST - $AOA - $BTC - $BTC - $ETC - $AOA - $BNT - $ENJ - $PAX - https://t.co/AAjm8xM3DI || Everyone is freaking out over Bitcoin's insane ROI in the last few months, but what's even crazier is $Link, up almost 800%.
I picked up over 180 thousand ChainLink when it was 20 cents, now it's just above $3. Can't wait till this thing is in top five.... https://t.co/ZFLhSCgtQj || https://t.co/rd8PfqUoRP || a promising project,I wish him the rapid growth and dynamic development,and to improve our position in promising niche crypto world #Crypto, #Exchange, #Blockchain, #ICO, #altcoins || #Bitcoin $6,942.20 v #BitcoinCash $494.98 (BTC/BCH 14.0), Avg Transaction fee for #Bitcoin ~$2.47 v #BitcoinCash ~$0.00 - 2019/05/13 03:00JST || Bitcoin Price Dips Back Under $8K as Top Cryptos See Moderate Losses – BTC Ethereum Crypto Currency Blog CRYPTO CRYPTO NEWS - https://t.co/CKqkxqAIaH
|
Trend: down || Prices: 11961.27, 11215.44, 10978.46, 11208.55, 11450.85, 12285.96, 12573.81, 12156.51, 11358.66, 11815.99
|
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 2020-06-22]
BTC Price: 9648.72, BTC RSI: 55.20
Gold Price: 1756.70, Gold RSI: 59.69
Oil Price: 40.46, Oil RSI: 65.05
[Random Sample of News (last 60 days)]
Stablecoins Push Ethereum’s Transaction Count to Highest Since July 2019: Ethereum’s network is experiencing its busiest days in 10 months amid increased issuance of stablecoins and the runup to Ethereum 2.0. The seven-day moving average of the total number of confirmed transactions on Ethereum ’s blockchain rose to 845,400 on April 30 to hit the highest level since July 1 , 2019, according to the data source Coin Metrics. As of Sunday, the average was 837,100. The transaction count had declined to 12-month lows in February. Since then, however, it has surged by 72%. Related: Blockchain Bites: Hyperledger Makes Inroads, Bitcoin Gets ‘Harder’ and Buffett’s Not ‘Halving’ It “The recent Cambrian explosion of stablecoin issuance has been a considerable driver of on-chain activity,” said Lucas Nuzzi, network data product manager at Coin Metrics , a provider of crypto financial data. Stablecoins are cryptocurrencies that offer price stability characteristics by pegging their value to some external reference, usually the U.S. dollar. Read more: The Stablecoin Surge Is Built on Smoke and Mirrors Tether (USDT), trueUSD (TUSD), gemini dollar (GUSD), paxos standard (PAX), binance USD (BUSD), USD coin (USDC), Huobi’s HUSD, and MakerDAO’s DAI are some of the best-known stablecoins. These major stablecoins are based on Ethereum’s blockchain. Related: As Tether Supply Hits Record Highs, It Moves Away From Original Home The market capitalization of major stablecoins has risen from $3.5 billion to over $7 billion over the last two months, according to Coin Metrics. Also, as of April 21, the market capitalization of all stablecoins operating on Ethereum’s blockchain was over $9 billion, according to crypto investor and founder of Mythos Capital Ryan Sean Adam. The uptick in the demand for and the issuance of stablecoins has coincided with the coronavirus-induced dollar shortage influencing the global economy. Since the start of the pandemic, indicators of dollar funding costs in foreign exchange markets have risen sharply. For instance, three-month euro-dollar swaps, a widely followed indicator of dollar-funding costs in the foreign exchange markets, rose to a nine-year high of 150 basis points in March. Story continues Read more: Ethereum Now Matches Bitcoin on One Key Metric While the dollar-funding stress has eased somewhat over the past few weeks due to the U.S. Federal Reserve’s massive liquidity injections, the crisis looks far from over for emerging markets, which lost around $1.5 billion in forex exchange reserves per day in March, according to Bloomberg. Some observers think the crisis has boosted stablecoins’ appeal as less-volatile instruments of transferring value on-chain. “The economic impacts of COVID-19 have created USD shortages around the world, especially in emerging markets,” said Nuzzi. “As such, USD stablecoins could be providing an alternative to physical dollars in jurisdictions experiencing stricter capital controls and currency devaluation.” Yet, the increase in transactions may not be entirely due to stablecoin growth. Connor Abendeschien, crypto research analyst at Digital Assets Data, cited Ethereum’s impending transition from the proof-of-work (PoW) to proof-of-stake (PoS) mechanism, dubbed Ethereum 2.0, as one of the possible reasons for the rise in Ethereum’s on-chain transactions. In PoW, miners solve cryptographically hard puzzles to complete transactions on the network and get rewarded. In PoS, instead of miners there are validators, which lock up some of their ether as a stake in the ecosystem. A block validator is then selected based on its economic stake in the network via a pseudo-random election process. Read more: What the CFTC Chairman Actually Said About Ether Futures and Ethereum 2.0 Backing Abendeschien’s argument is the recent sharp rise in the number of addresses holding more than or equal to 32 ETH, an amount a holder is required to maintain as a balance to become a validator on 2.0. The number of validator addresses rose sharply in the days leading up to the launch of the testnet version of Ethereum’s 2.0 upgrade on April 18 and hit a record high of 11,6750 on April 28. That boosted the transaction count, according to data provided by the blockchain intelligence firm Glassnode . Broad range intact While there has been a recent uptick in the transaction count, the metric is still within the broad range of 900,000 to 400,000 seen since February 2018. Gavin Smith, CEO of cryptocurrency consortium Panxora, expects the transaction count to grow organically in the future. “One important factor to take into account is that Ethereum is still by far the favored smart contract vehicle in the crypto space and the upcoming transition to PoS will help the network cope with the ever-growing demand,” said Smith. Read more: 5 Takeaways on Ethereum 2.0 From Vitalik’s ‘Beast Mode’ Blog Posts Also, a rally in ether’s price could boost transaction count. “On-chain activity tends to follow price,” said Wilson Withiam, research analyst at Messari, a provider of crypto data, tools, and research. The recent growth in Ethereum’s transaction count is accompanied by a stellar rise in price. At press time, the second-largest cryptocurrency is trading around $205 on major exchanges, representing a 127% gain on the low of $90 observed on March 13. Related Stories Blockchain Bites: Bitfinex Sues, Miners Prepare, Congress Considers Marketing Ethereum 2.0 and Herding Cats With Hudson Jameson || The Crypto Daily – Movers and Shakers -06/05/20: Bitcoin rose by 1.72% on Tuesday. Reversing a 0.40% decline from Monday, Bitcoin ended the day at $9,020.1. It was the first time Bitcoin held onto $9,000 levels since 6thMarch.
A mixed start to the day saw Bitcoin rally to a mid-morning intraday high $9,124.8 before hitting reverse.
Bitcoin broke through the first major resistance level at $9,046.07 before sliding to a late morning intraday low $8,758.6.
Steering clear of the first major support level at $8,601.27, rebounded through the afternoon to wrap up the day at $9,000 levels.
In spite of the rebound, Bitcoin failed to break back through the first major resistance level.
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.
Across the rest of the majors, it was a mixed day for the pack on Tuesday.
Bitcoin Cash SV joined Bitcoin in the green, with a 1.86% gain, while Cardano’s ADA and EOS ended the day flat.
It was a bearish day for the rest of the majors, with Tron’s TRX sliding by 2.56% to lead the way.
Litecoin (-1.04%), Monero’s XMR (-1.24%), Stellar’s Lumen (-1.89%), and Tezos (-1.12%) weren’t far behind.
Binance Coin (-0.76%), Bitcoin Cash ABC (-0.76%), Ethereum (-0.77%), and Ripple’s XRP (-0.55%) saw relatively modest losses.
Through the start of the week, the crypto total market cap rose from a Monday low $240.56bn to a Tuesday high $252.06bn. At the time of writing, the total market cap stood at $248.97bn.
While Bitcoin’s dominance held onto 65% levels following Monday’s modest loss, Tuesday’s trend-bucking move delivered 66% levels. At the time of writing, Bitcoin’s dominance stood at 66.2%.
24-hour trading volumes rose to a Monday high $164.25bn before easing back to a Tuesday current week low $145.07. At the time of writing, 24-hr volumes stood at $146.60bn.
At the time of writing, Bitcoin was down by 0.67% to $8,959.4. A bearish start to the day saw Bitcoin fall from an early morning high $9,036.0 to a low $8.913.6.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was also a bearish start to the day for the rest of the majors.
Bitcoin Cash SV and Monero’s XMR led the way down, with losses of 1.11% and 1.03% respectively.
Bitcoin would need to move through to $8,970 levels to bring the first major resistance level at $9,177.07 into play.
Support from the broader market would be needed, however, for Bitcoin to break out from Tuesday’s high $9,124.8.
Barring a broad-based crypto rebound, resistance at $9,100 would likely leave Bitcoin short of the first major resistance level.
In the event of another breakout, the second major resistance level at $9,334.03 could come into play.
Failure to move through to $8,970 levels could see Bitcoin fall deeper into the red.
A fall through the morning low $8,913.6 would bring the first major support level at $8,810.87 into play before any recovery.
Barring a crypto meltdown, however, Bitcoin should well clear of the second major support level at $8,601.63.
Thisarticlewas originally posted on FX Empire
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• Economic Data and Geopolitics Keep the EUR and Greenback in Focus || Bitcoin Outperforming Gold and Stocks so Far This Month: Bitcoin looks to have decoupled from traditional markets as investors refocus on the network’s imminent mining reward halving.
While the top cryptocurrency by market value has gained nearly 5.9% so far this month, gold, a haven asset, has declined by 1%. Meanwhile, as of Wednesday, the S&P 500, Wall Street’s equity index, was down 2.2% on a month-to-date basis, according to data source Skew.
Bitcoinis also the best performing asset of 2020 to date, with a 28% year-to-date gain. Oil (WTI) is down 66% – flashing red due to the massive destruction of demand brought on by the coronavirus pandemic.
Related:Market Wrap: Bitcoin at $9.9K as Halving Chatter Increases
The cryptocurrency has moved largely in tandem with the stock markets over the past two months. Prices fell from $10,000 to $3,867 in the first two weeks of March because the coronavirus-led sell-off in global equities triggered a global dash for cash. The cryptocurrency rose back above $7,000 in the following four weeks, tracking the recovery in stocks.
The positive correlation, however, weakened last week with bitcoin posting double-digit gains despite moderate losses in equities. The cryptocurrency is now tradingnear $9,300, representing a 4.4% gain on a week-to-date basis, according to CoinDesk’s Bitcoin Price Index.
The crypto market’s focus seems to have shifted away from the coronavirus to thereward halving, expected to take effect on May 12 (though itmay happen sooner). The supply-altering process has been hailed as a price-bullish event by many analysts for over a year now, and the recent rally from $7,600 to $9,400 may have beenfueled bya fear of missing out (FOMO) on the expected gains.
Bitcoin’s network is also experiencing its busiest period in over two years. For instance, the seven-day average of the number of unique addresses active on the network jumped to 947,088 on Wednesday to hit the highest level since January 2018, according to the data fromGlassnode. The spike suggests increased investor interest in the cryptocurrency,as notedearlier this week.
Related:Hedge Fund Pioneer Turns Bullish on Bitcoin Amid ‘Unprecedented’ Monetary Inflation
Further, the cryptocurrency’s hash rate – the computing power dedicated to mining blocks – recently rose to anall-time highof 140 exahashes per second.
Most observers expect bitcoin’s price torise into five figuresahead of the halving. From a technical analysis standpoint, the case for a rally to $10,000 would strengthen following an acceptance above a major resistance level.
Bitcoin is currently trading just above the resistance of the trendline connecting the July 2019 and February 2020 highs (currently at $9,280). If prices hold above that level for a few more hours, stronger chart-driven buying will likely emerge, lifting prices toward $10,000.
However, bitcoin has failed a couple of times in the last six days to keep gains above the long-term trendline hurdle.
While the cryptocurrency is gaining altitude, investors seem to be buying put options (bearish bets, in effect), possibly to hedge against a potentialpost-halving price drop. This is evident from the rise in theone-month put-call skewfrom -3% on May 1 to 9.1% on Wednesday.
The positive reading indicates that put options aremore expensivethan calls (bullish bets) as a result of drawing higher demand.
Similar sentiments are being echoed by the put-callopen interest ratio, which rose to a three-month high of 0.75 on Wednesday, according to data provided Skew.
Disclosure:The author holds no cryptocurrency at the time of writing.
• First Mover: Bitcoin’s ‘Halving’ Is Coming Even Sooner Than You Realize
• Market Wrap: Derivatives May Reduce Miner Selling Pressure After Bitcoin Halving || Coda Protocol Sets Aside $2.1M in Tokens for Development Grants: Bitcoin clocked highs near $9,600 this morning, having trapped bears on the wrong side of the market with a brief dip below $9,000 on Monday.
Analysts say a risk reset in the traditional markets fueled bitcoin’s rise from $8,900 to $9,580 in the last 24 hours. “Bitcoin has regained poise, possibly tracking the recovery in global stock markets,” said Asim Ahmad, co-chief investment officer at London-based Eterna Capital.
Major European equity markets are reporting gains of over 2% at press time, while futures tied to the S&P 500 are up 1.2%, according toInvesting.com. The situation was different 24 hours ago when S&P 500 futureswere down2% due to renewed fears over the economic effects of the coronavirus pandemic.
Sentiment on Wall Street turned positive during yesterday’s U.S. trading hours after theFederal Reserve announcedit would start buying yet more corporate bonds. The S&P 500 ended the day with a 0.83% gain. The risk appetite improved further during Tuesday’s Asian hours afterBloomberg reportedthat the Trump administration is preparing a near $1 trillion infrastructure proposal.
The turnaround in the global equities likely helped bitcoin rise back to $9,600. In the past, the cryptocurrency has closely followed traditional markets during bouts of coronavirus-induced panic.
Most notably, the cryptocurrency crashed from $10,000 to $3,867 in the first half of March, as stock markets cratered at the prospect of a coronavirus-induced recession. In the following five weeks, both stocks and bitcoin witnessed solid recovery rallies.
At press time, bitcoin is changing hands near $9,550, representing a 1% gain on the day. While the unprecedented stimulus programs are widely expected to bode well for bitcoin in the long run, in the short-run, the cryptocurrency remains vulnerable to losses in stock markets.
Related:Bitcoin Rises to $9.6K as Stocks Cheer Additional US Stimulus Plans
Prices may fall again fall back to $9,000 in the next 24 hours if the stock markets lead the way lower. Fed Reserve President Jerome Powell islikely to presenta dour outlook on the economy during his semi-annual policy report on Tuesday and Wednesday.
The Fed said last Wednesday that the economy would take years to normalize, dashing hopes for a V-shaped recovery.
From a technical analysis perspective, a clear break above $10,000 is needed to confirm a bullish breakout. The bulls have persistently failed to keep gains above that level over the past three months.
“Bitcoin has been flirting with the $10,000 mark since May but has since been coming back down,” said Vijay Ayyar, Asia head at cryptocurrency exchange Luno. “This is what is typically known as ‘distribution’, where a lot of the gains made in the past few months by large traders are sold into weaker hands.”
The psychological $10K barrier, however, may soon be breached as larger investors seem to be accumulating bitcoin.
As of Monday, there were 2,151 addresses with balance more than 1,000 BTC, the highest since mid-March, according to data fromGlassnode. The so-called bitcoin “rich list” has increased by nearly 3% over the past two months.
A convincing move above $10,000 would likely yield a stronger rally to resistance lined up at $11,950 (September 2019 high). Meanwhile, on the downside, $8,500 is a key support. “If that level is breached, prices could decline to the levels we saw in the crash in March: $7,700, and then $7,100,” said Ayyar.
Disclosure:The author holds no cryptocurrency at the time of writing.
• Market Wrap: Bitcoin Drops, Then Pops as Traders See Weaker Markets Coming
• Sorry, Bloomberg: Here Are 6 Reasons Why 2020 Is a Great Year for Bitcoin || Vodafone Enlists Blockchain Nonprofit for Tracking Renewable Energy Use in Europe: Research is being conducted. Experiments are brewing. Behind the scenes, Lightning Network developers are planning to (eventually) completely rewrite an important part of bitcoin.
Known as Bitcoin’s second layer, since most of the action takes place off the blockchain, Lightning is being built out for faster, cheaper and more scalable bitcoin payments. The network is functional today, but it turns out it might make sense to strip out an important part and replace it with new technology to strengthen privacy.
Hashed Timelock Contracts (HTLCs) are an integral piece of the Lightning Network, making it possible to send payments without trusting anyone. Now, developers are exploring replacing them with Point Timelock Contracts (otherwise known as “payment points” or PTLCs), which can do the same thing, they say, but better.
The idea was first proposed by pseudonymous Lightning developer ZmnSCPxj, whose open-source development work is sponsored by Square Crypto, an R&D arm of the Silicon Valley payments unicorn.
Read more:Square Crypto Bankrolls Star Lightning Developer Known as ‘ZmnSCPxj’
At the forefront of exploring this enhancement is Suredbits developer Nadav Kohen, who started looking into the idea because he was interested in the possibilities of bitcoin smart contracts, which describe more complex conditions required before a payment can be made, such as requiring a certain date to have passed, or requiring that the temperature somewhere be above, say, 90 degrees.
“I’ve spent a lot more time digging into what can be done using PTLCs that can’t be done with HTLCs and it turns out you can do some pretty complicated … contracts without losing the privacy and speed provided by the Lightning Network,” Kohen said. “And furthermore, many existing Lightning-related proposals can become even more powerful and improved when using PTLCs.”
Related:Lightning Network Overhaul Could Strengthen Bitcoin Privacy – But Many ‘Ifs’ Remain
While the Lightning Network is still relatively young, developers are finding new, better ways of constructing it from the ground up. For example,Eltoo, if implemented, will also be a fundamental change to the network.
The Lightning Network is a global payments system made up of at least12,000 nodes.
When someone sends a payment, under the hood it hops from one node to another until it reaches the destination. All this most likely occurs in a fraction of a second. The way payments move across the system without trusting the nodes that the user is passing their bitcoin through is by way of HTLCs.
HTLCs are so named because each node in a payment path receives a “hash,” a random-looking string of letters and numbers, which hides the secret that can be used to retrieve the bitcoin.
Read more:A New Twist On Lightning Tech Could Be Coming Soon to Bitcoin
One problem with HTLCs is that all intermediaries in the path get the same hash, which can be a problem from a privacy point of view because it gives snoops a little better idea of where a payment is coming from or where it’s going.
“If I was trying to do surveillance of payment activity on the Lightning Network, I could set up a bunch of routing nodes and if I route two payments in two different places that have the same hash, I can be sure that these two payments were on the same route which narrows the possible senders and receivers of this payment considerably,” Kohen said.
PTLC, on the other hand, can add a “random tweak” at each hop, Kohen said, making it harder to tell that they are part of the same payment path. (Those interested in the technical bits can read Kohen’s series oftechnical explanations.)
This is the reason Kohen believes the change is “necessary” for Lightning.
Developers have been trying to improve Lightning’s privacy as much as possible. Bitcoin is quite transparent because every transaction is recorded in a public repository. The Lightning Network’s “off-chain” transactions might show promise in changing this, since payments are not indelibly imprinted in the Bitcoin blockchain.
Read more:Bitcoin’s Future: Exactly How a Coming Upgrade Could Improve Privacy and Scaling
As a bonus, PTLCs open up some other possibilities too. They build in some protections against “wormhole attacks,” used by malicious actors to sneakily pilfer fees that are supposed to be paid to intermediary nodes, Nadav explained in hispost.
And useful information can be stored in a PTLC, making it a possible tool for more complex smart contracts.
“Specifically, there is very little useful information in a hash, while there is significant information that can be stored in a point,” Kohen said.
In this way, PTLCs could be used forescrow, for example, or for “oracles,” long a hot topic in cryptocurrency, where payments depend on data incoming from the outside world.
Kohen and others are actively researching the change and its potential impact, but it will take some time before developers can make the shift.
Technically, the change could be added to Lightning now. At a virtualLightning hackathon last month, Kohen, Blockstream engineer Jonas Nick, and others created aproof of conceptover Elliptic Curve Digital Signature Algorithm (ECDSA).
Read more:Bitcoiners Sprint to Improve Lightning Network in 2-Day Virtual Hackathon
Kohen argued that the change is “the best” if it’s built on top ofSchnorr/Taproot, a likely upgrade that hasn’t made its way into bitcoin just yet. Schnorr/Taproot offers a new way to “sign” transactions in bitcoin, which is how a user cryptographically proves that they own bitcoin and are allowed to transfer it to someone else. Schnorr/Taproot offers advantages over bitcoin’s current signature scheme ECDSA.
Without Schnorr ready yet, Kohen and others only plan to use the ECDSA version to experiment with PTLCs in a sandbox so that once Schnorr rolls around, they’ll be ready.
“Aside from theory there is finally a way to do experimentation now. I’m really looking forward to seeing all of these proposals which have only been on paper come to life finally,” Kohen said, adding:
“I don’t intend the current coding work that has been done using ECDSA adaptor signatures to end up in any Lightning implementation’s actual production, but rather I intend to use ECDSA adaptor signatures to test out the large set of proposals that require PTLCs, as well as try to hit the pain points that are not specific to ECDSA-based PTLCs, so that we can have as much of a headstart as we can before Schnorr arrives and it is time to commit to a way of doing PTLCs on lightning.”
But the steps don’t end there. Once Schnorr is through, the change will require quite a bit of coordination.
The good news is that Lightning developers Kohen has talked to agree the change should be made. So far, there’s only been debate about implementation details.
“I have yet to talk to a single person who does not believe that someday … Lightning will for sure move to using PTLCs instead of HTLCs. I have met people who disagree about various implementation details but I’ve never met anyone who doesn’t think that PTLCs are inherently superior to HTLCs without any real downside,” Kohen told CoinDesk.
But even with agreement that the change will improve the lightning network, it is a huge change that will take time.
“Rather than a ‘few changes,’ this would to date be the largest network-level
update undertaken to the Lightning Network thus far,” said Lightning Labs CTO Olaoluwa Osuntokun inan emaildiscussing the change with other developers.
“I’d caution against underestimating how long all of this will take in practice, and the degree of synchronization required to pull it all off properly,” he added.
• BitMEX Sees Biggest Short Squeeze in 8 Months After Bitcoin Surge
• Bitcoiners Sprint to Improve Lightning Network in 2-Day Virtual Hackathon || New Zealand police seize $90 million from alleged BTC-e operator Alexander Vinnik: New Zealand police have seized NZ$ 140 million (~US$90 million) from Alexander Vinnik, the alleged operator of the now-defunct crypto exchange BTC-e, and his company Canton Business Corporation (the managing shell company of BTC-e). The police said it is the largest seizure in its history. Vinnik was arrested on money laundering allegations in Greece in 2017, and earlier this year was extradited to France, where he remains in custody. It is alleged that Vinnik operated BTC-e without anti-money laundering controls and policies, which resulted in criminals laundering proceeds derived from illegal activities via the exchange. New Zealand police commissioner Andrew Coster said the seized funds are "likely to reflect the profit gained from the victimisation of thousands, if not hundreds of thousands, of people globally as a result of cyber-crime and organised crime." Coster added that the police worked closely with the U.S. Internal Revenue Service to address this "very serious offending." The police plan to file an application to the High Court seeking forfeiture of the seized funds. It is not clear whether the funds are in the form of fiat or cryptocurrency. When reached, the police declined to comment to The Block. The case is still ongoing. Once it is completed in France, Vinnik is said to extradite to Greece, then the U.S. and later to his native Russia. © 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. || Ethereum is more Stable than Bitcoin: Crypto assetshave become a vivid example of the statement ” What goes up, must come down” and time after time we are convinced of the validity of this phrase. Overcoming the threshold could have opened the way for testing price levels up to $10,500 in the near term, but buyers again lacked the strength. In 7 days Bitcoin shows a decline of almost 4%.
Altcoins moderately followBitcoin. The total capitalization in a day decreased by $10 bln. This cannot be called a large-scale sale, but there is a worsening of investor sentiment, which may result in increased sales pressure soon. The Crypto Fear & Greed Index after a 12-point growth over the week showed a daily decline of 3 points, which is a relatively accurate reflection of what is happening in the market.
While all the news was around halving and the likely prospects for Bitcoin after this event, the leading altcoinEthereum(ETH) demonstrated quiet growth. Since the beginning of the year, Ethereum has grown by 61%, compared to 31% for Bitcoin in the same period. ETH usually follows the increase in Bitcoin, but in the end, it turns out that the coin adds more and loses less.
Favourable prospects for Ethereum are linked to the fact that its network is becoming increasingly active by launching decentralized financial applications (DeFi). ETH holders can block assets in DeFi smart contracts with different purposes, which reduces the circulation of coins, naturally creating an effect that is achieved in the bitcoin network by halving. Bitcoin maximalists do not see Ethereum as a threat, but there is no point in believing that a network after switching to 2.0 cannot be a worthy competitor to bitcoin.
Bitcoins mined at the very beginning of the network’s existence have long been at the centre of attention of the crypto community. The reaction to the transfer of 50 bitcoins, which have been motionless since 2009, has been decisively strong. These coins were received as a reward when the network had less than 100 transactions and only a few people, including Satoshi himself, were mining BTC. Such fund transfers now have a much higher response in the community than transfers of tens of thousands of bitcoins with fees less than a dollar. However, fast and cheap international transfers, bypassing numerous intermediaries, are precisely the direction that still needs to be developed and where the traditional sluggish banking system continues to hold the lead.
by Alex Kuptsikevich, the FxPro senior market analyst.
Thisarticlewas originally posted on FX Empire
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• USD/CAD Daily Forecast – U.S. Dollar Rebounds From Strong Support Level || The Crypto Daily – Movers and Shakers – June 14th, 2020: Bitcoin rose by 0.14% on Saturday. Following a 2.05% gain on Friday, Bitcoin ended the day at $9,480.9.
A bearish start to the day saw Bitcoin fall to an early morning intraday low $9,363.6 before making a move.
Steering clear of the first major support level at $9,294.87, Bitcoin rallied to an early evening intraday high $9,498.6.
Falling short of the first major resistance level at $9,592.87, Bitcoin fell back to the intraday low $9,363.6 before finding support.
A late move back through to $9,480 levels delivered the upside, while resistance at $9,500 continued to pin Bitcoin back.
The near-term bullish trend remained intact in spite of last Thursday’s sell-off, with Bitcoin holding well above the 23.6% FIB of $8,900.
For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.
Across the rest of the majors, it was also a mixed day on Saturday.
Bitcoin Cash SV, (-0.26%), Cardano’s ADA (-0.52%), and Ripple’s XRP (-0.30%) ended the day in the red.
It was a relatively bullish day for the rest of the pack, however.
Binance Coin (+1.02%), Monero’s XMR (+1.25%), Stellar’s Lumen (+2.10%), Tezos (+1.14%), and Tron’s TRX (+1.62%) led the way.
Bitcoin Cash ABC (+0.69%), EOS (+0.36%), Ethereum (+0.25%), Litecoin (+0.85%) also joined Bitcoin in the green.
Through the current week, the crypto total market cap had recovered from a Tuesday low $265.84bn, rising to a Wednesday high $278.33bn before Thursday’s sell-off. The sell-off saw the total market cap slide to a current week low $252.82bn. At the time of writing, the total market cap stood at $263.63bn.
In the week, Bitcoin’s dominance slid to a current week low 65.7% before hitting a current week high 66.39% in Thursday’s sell-off. At the time of writing, Bitcoin’s dominance stood at 65.99%.
At the time of writing, Bitcoin was down by 0.27% to $9,455.5. A bearish start to the day saw Bitcoin fall from an early morning high $9,486.0 to a low $9,452.3.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a mixed start to the day.
Bitcoin Cash SV and Monero’s XMR bucked the trend early on, with gains of 0.08% and 0.33% respectively.
It was a bearish start for the rest of the pack, however. Cardano’s ADA led the way down, with a 0.70% loss at the time of writing.
Bitcoin would need to avoid sub-$9,448 levels to bring the first major resistance level at $9,531.8 into play.
Support from the broader market would be needed, however, for Bitcoin to break out from Saturday’s high $9,498.6.
Barring a broad-based crypto rally, the first major resistance level and Saturday’s high $9,498.6 would likely cap any upside.
In the event of a crypto rebound, Bitcoin could eye the second major resistance level at $9,582.7 before any pullback.
Failure to avoid a fall through the $9,448 pivot level could see Bitcoin hit reverse.
A fall back through the morning low $9,452.3 to sub-$9,448 levels would bring the first major support level at $9,396.8 into play.
Barring another extended crypto sell-off, however, Bitcoin should steer clear of the second major support level at $9,312.7.
Thisarticlewas originally posted on FX Empire
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• European Equities: A Week in Review – 13/06/20 || DMG Purchases Additional 1,000 M30s State-of-the-Art ASIC Miners: Highlights : DMG adds 90 petahash towards its stated 2020 year-end goal of 500 petahash of self-mining DMG used the previously offered $2M available for financing this new mining equipment Once energized, this deployment will increase DMG’s latest mining technology to 110 petahash VANCOUVER, British Columbia, May 27, 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 announce that that it has ordered an additional 1,000 M30s miners. Successful bitcoin mining relies on both cost and operating efficiencies as well as utilizing the latest available ASIC technology. The Company has more than 240 M30s currently self-mining for DMG and is also hosting an additional 260 M30s for clients. The miners are operating above DMG’s expectations. This purchase was facilitated by the equipment financing previously announced on April 7, 2020, and represents the remaining amount offered to DMG under this non-dilutive financing. Dan Reitzik, DMG’s CEO commented, “Our stated goal for self-mining in 2020 is 500 petahash of latest ASIC mining technology. This deployment will add approximately 90 petahash to our existing fleet. We will continue to deploy more self-mining as opportunities arise. The new fleet is expected to be energized by mid-June 2020. The recent volatility in Bitcoin (“BTC”) prices demonstrate why industrial miners need to constantly deploy the most efficient technologies. Our newest miners are very efficient, even at the current depressed BTC price.” Sheldon Bennett, DMG’s COO added, “Having the ability to finance new mining technologies greatly expedites our expansion plans for self-mining. Aggressively adding petahash using equipment financing options is key for our growth strategy.” 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. Story continues 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, 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. 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. || Mutual Fund Giant Vanguard Wraps Phase 1 of Digital Asset-Backed Securities Pilot: Three Arrows Capital, a crypto fund management firm based in Singapore, has acquired a significant stake in the Grayscale Bitcoin Trust (GBTC), according to a new filing with the U.S. Securities and Exchange Commission (SEC).
The firm filed aschedule 13Ddisclosure to the SEC on Thursday after accumulating 21,057,237 shares, or 6.26%, of the trust for an amount valued over 20,000bitcoin(BTC) or around $192 million, according toa filing dated June 10. (Grayscale is a subsidiary of Digital Currency Group, CoinDesk’s parent firm.)
A Schedule 13D form or beneficial ownership report is required when a person or group (firm) acquires more than 5% of any class of a company’s shares. The information must be disclosed to the SEC within a 10-day period from the date of the transaction under current regulations.
Related:Three Arrows Capital Now Holds More Than 6% of Grayscale’s $3.6B Bitcoin Trust
Grayscale Investments is the world’s largest digital currency asset manager with its flagship product, the Grayscale Bitcoin Trust that was set up in 2013. As of June 11, the trust holds approximately 365,000 bitcoin worth $3.6 billion, according toGrayscale’s website.
See also:Shares in Grayscale’s Bitcoin Trust Up By 14% After Crypto’s Price Rallies
“Grayscale is one of the most professional and beneficial companies in the crypto ecosystem. We enjoy working with their team and are proud to be the first investor to file a Schedule 13D/G with the SEC for over 5% ownership,” said Su Zhu, CEO and co-founder at Three Arrows Capital.
On January 21, GBTC became an SEC-compliant reporting company after filing a Form 10 with the SEC. Also known as the General Form for Registration of Securities it is used to register a class of securities for trading on U.S.-based exchanges. A company with over $10 million in total assets under management is required to file a Form 10 with the SEC.
• Bitcoin Stuck Below $10K as Stocks Drop
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• Human Rights Foundation Funds Bitcoin Privacy Tools Despite ‘Coin Mixing’ Legal Stigma
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 9629.66, 9313.61, 9264.81, 9162.92, 9045.39, 9143.58, 9190.85, 9137.99, 9228.33, 9123.41
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2017-02-10]
BTC Price: 988.67, BTC RSI: 53.96
Gold Price: 1234.40, Gold RSI: 66.84
Oil Price: 53.86, Oil RSI: 56.64
[Random Sample of News (last 60 days)]
Hyperledger Wraps up 2016 By Welcoming Eight New Members: SAN FRANCISCO, CA --(Marketwired - December 28, 2016) - Hyperledger Project , a collaborative cross-industry effort created to advance blockchain technology, announced today that eight new members have joined the project to help create an open standard for distributed ledgers for a new generation of transactional applications. Last month, Hyperledger announced it reached 100 active members in less than one year, a huge milestone for the open source project, hosted by The Linux Foundation. "This year has been full of growth for the project," said Brian Behlendorf, Executive Director, Hyperledger. "Not only did we exceed 100 members, Hyperledger met significant development milestones thanks to the community's hard work. As 2016 was a year of exploration, R&D and prototyping, we're excited for 2017 to be the year we start to see case studies of the technology in production environments." Hyperledger aims to enable organizations to build robust, industry-specific applications, platforms and hardware systems to support their individual business transactions by creating an enterprise grade, open source distributed ledger framework and code base. The latest members include: CA Technologies, Factom Foundation, Hashed Health, Koscom, LedgerDomain, Lykke, Sovrin Foundation and Swisscom. New Member Quotes: CA Technologies "To compete today, every company needs to foster innovation that delivers real business value. Blockchain has the potential to disrupt the way many of CA's customers do business," said Otto Berkes, chief technology officer, CA Technologies. "We're honored to be a part of Hyperledger and look forward to collaborating with other members to help shape open standards for blockchain. It's an exciting time for this because blockchain is not just about Bitcoin anymore, and the range of potential applications with it is vast for of our customers. This partnership will help us influence what that future looks like for both CA and our customers as they embark on their digital transformation journey." Story continues Factom Foundation "We are honored to have been selected to join the Hyperledger Project," said Paul Snow, Founder, Factom Foundation. "We are looking forward to helping build the open source framework for securing data and systems with our blockchain solution." Hashed Health "Hashed Health is a healthcare technology innovation company focused on accelerating the commercialization of meaningful new blockchain and distributed ledger-based technologies," said John Bass, Hashed Health CEO. "Hashed is proud to be a member of the Hyperledger Project, sharing its commitment to creating the foundation for scalable, reliable blockchain solutions." Koscom "We consider blockchain technology as the next generation infrastructure in the Korean capital market. As an industry leader with 40 years' experience in the financial IT field, we are looking to leverage this industry disruptive technology," said Chung Youn Dae, CEO, Koscom. "We will constantly explore the ways to contribute to the blockchain ecosystem, as we collaborate with the Hyperledger community. We also hope to better serve out customers in a more secure and efficient way by integrating blockchain technology and our own Fintech platform." LedgerDomain "LedgerDomain delivers next generation supply chain solutions, harnessing permissioned blockchains to assure supply chain integrity and finished product authenticity through to the consumer for the benefit of all. This highly transparent, trustworthy approach is built upon an industrial-strength Hyperledger Fabric backbone," said Dr. Victor Dods, LedgerDomain. "We're proud to be a part of Hyperledger and its growing community." Lykke "We're looking forward to being part of the Hyperledger project," said Richard Olsen, Lykke founder and CEO. "Our company is building a digital asset exchange. Right now, we're implemented on the Bitcoin blockchain settlement layer, with Ethereum to come within the next few months, but our involvement with Hyperledger isn't just the next step forward. Providing decentralized settlement on the Hyperledger blockchain with multisignature wallets and atomic swap transactions will benefit both of our user communities." Swisscom "We are very proud to be Switzerland's first connection to Hyperledger," said Johannes Höhener, VP, Swisscom's Fintech Cluster. "We look forward to working with a highly professional community on cutting-edge blockchain developments. Our membership and participation will shape our capabilities to develop blockchain solutions -- for our clients and Switzerland." The success of Hyperledger is due to the support of the developer community and member companies. Learn how your organization can contribute to the project here: https://www.hyperledger.org/about/join About Hyperledger The Hyperledger project is an open source collaborative effort created to advance cross-industry blockchain technologies. It is a global collaboration including leaders in finance, banking, Internet of Things, supply chains, manufacturing and Technology. The Linux Foundation hosts Hyperledger as a Collaborative Project under the foundation. To learn more, visit: www.hyperledger.org || 10 things you need to know before the opening bell: (A Houthi militant displays his skills during a parade held by newly recruited Houthi fighters before heading to the frontline to fight against government forces, in Sanaa, Yemen.Reuters/Khaled Abdullah)
Here is what you need to know.
Friday is jobs day in America.The US economy is expected to have added 170,000 nonfarm jobs as the unemployment rate ticked up to 7.4%, according to a survey of economists by Bloomberg. Additionally, average hourly earnings are anticipated to have climbed 2.8% year-over-year. The data will cross the wires at 8:30 a.m. ET.
A new king of auto sales has been throned in China.Honda saw sales surge24 percent YoY to 1.25 million vehiclesin 2016, surpassing rival Toyota as the number one automaker in China, Reuters says.
Australia's first recession in 25 years could be on hold.The country recorded a surprise trade surplus in November, the first since March 2014, and if repeated in December it is expected to add enough to fourth quarter growth to prevent the first recession since 1991. The Australian dollar is little changed at .7341 against the dollar.
A second Scottish referendum isn't happening.Prime minister Nicola Sturgeon has abandoned her plans to hold a second referendum to keep Scotland in the European Union, saying that she has accepted "reality." The British pound is down 0.3% at 1.2364 versus the dollar.
Bitcoin is crashing again.The cryptocurrency crashed as much as 23% on Thursday, touching a low of $888.99 per coin before finishing the day near $968. Selling has picked back up on Friday with bitcoin lower by 13.5% at $886.
Frontier Airlines is planning to go public.The low-cost carrierhas hired Deutsche Bank, JPMorgan, and Evercore to help with its initial public offering, the New York Times says.
There's finally some good news from the retail sector.Gap announced sales at stores that have been open at least one year rose by 4% versus a year ago, compared to the 1.7% drop that analysts were anticipating, and raised its full-year profit forecast. Shares traded higher by as much as 10% in Thursday's after hours session.
US mall vacancies were flat in the fourth quarter.Vacancies held at 7.8%, Reuters reports, citing data compiled by Reis.
Stock markets around the world are mostly lower.China's Shanghai Composite (-0.4%) lagged in Asia and France's CAC (-0.5%) trails in Europe. The S&P 500 is on track to open higher by 0.2% near 2,268.
US economic data is heavy.Aside from the jobs report, the trade balance will be released at 8:30 a.m. ET and both factory orders and durable goods orders will cross the wires at 10 a.m. ET. The Baker Hughes rig count will be announced at 1 p.m. ET. The US 10-year yield is up 1 basis point at 2.35%.
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• Here's a super-quick guide to what traders are talking about right now || 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) || 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 || Flow Sports Celebrates One Year as 'the Home of Sports in the Caribbean': MIAMI, FL--(Marketwired - Dec 21, 2016) - One year ago,Flowunveiled its newFlow Sports Network, giving fans an exciting and innovative viewing experience, forever changing the game in sports broadcasting in the Caribbean.
In its first year, Flow Sports beamed over 4,000 hours of live and original sports programming in crystal-clear high definition straight from a state-of-the-art 4k-ready broadcast facility in Trinidad. Built around the sports Caribbean fans love -- football, athletics and cricket -- the network aired the biggest events in local, regional and international sports, including last year's FA Cup Final, the Rio 2016 Olympic Games, the Flow CARIFTA Games, the CONCACAF World Cup Qualifiers, the 2016-17 Premier League season and much more.
Not long after the network was launched, Flow also unveiled theFlow Sports appto give fans anytime/anywhere access to its premier sports content. Live and on-demand programming, up-to-date news, statistics, behind-the-scenes footage and more is now available 'on the go' via the app or the website,www.flowsports.co, along with the regular Flow TV options, so fans can take the action with them wherever they go.
"Giving fans unmatched sports content tailored to their specific preference with the ability to watch it all at their leisure, on their device of choice -- that's what Flow Sports is all about," said James Tooke, SVP of Media and Content at Cable & Wireless, operator of Flow. "And in just one year we have become the Caribbean's leading sports network setting the bar for future sports programming across the region. We've given fans what they've always wanted -- a one-stop shop for the contenttheywant to watch."
Indeed, Flow Sports' inaugural year was jammed pack with exciting action for viewers. Looking back on some of the milestones, Tooke said: "We became theOfficial Broadcast Partner and Sponsorof the Flow CARIFTA Games, broadcasting the competition in HD for the first time ever -- not just across the Caribbean, but also to more than 20 million households worldwide. We were theOfficial Broadcast Partner of the Rio 2016 Olympic Games, too, and enabled fans to stream over4.4 million minutes of actionacross our FlowtoRio2016Extra app andmicrosite, with 4.6 million people also tuning into our 3 dedicated Olympic channels. We became home to the Indian Premier League; brought behind-the-scenes coverage of the Super Bowl to fans of American football; hosted watch parties for Manchester United fans; and the list goes on. It was a truly exceptional first year - one we'll always remember."
And while Flow Sports made sure to broadcast the big-name events, it also focused on the development of its own original programs. A case in point isFlow Sports Premier Weekly, an in-house production dedicated to all things Premier League, where three world-class hosts (Nadine Liverpool, Jason Roberts and Terry Fenwick) discuss the league's hottest stories trending in Caribbean circles. The show has gotten such a positive response that Tooke says it has become "football central for Caribbean fans." And it's also an excellent example of Flow's commitment to shape a true Caribbean viewing experience.
That commitment can be further seen in Flow Sports' coverage of local and regional sports, including the Barbados Rally, Cayman Invitational, Schoolboy Football from Jamaica, Flow CARIFTA Games and the CONCACAF World Cup Qualifiers and so much more. "Supporting our athletesand giving fans the chance to watch their hometown heroes compete in these significant regional events has been a privilege for us," explained Tooke. "We'll continue to do what we can to develop sports across the region and give fans relevant, local content."
In recognizing the accomplishments of the network, Cable & Wireless CEO, John Reid, said, "Flow Sports is a celebration of innovation and improvement in sports broadcasting across the region and has been changing the game since it was launched. We've invested in the content, the technology, the athletes, the fans and the people behind the network. And it's paying off. Flow Sports is now available in 24 countries in the Caribbean, and aside from Flow is carried by 34 other operators -- and growing."
Reid also said, "In November, our family of sports networks had the highest cumulative audience of any sports network on the Flow TV platform. But this is just the beginning. We are even more confident that we will continue to raise the bar now that we are powered by our new parent company Liberty Global's size, scale and access to content. We will ensure that Flow Sports evolves with the sports and with the fans, and we'll keep investing to develop across the region to demonstrate for years to come why we truly are 'the Home of Sports in the Caribbean.'"
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=3093704Image Available:http://www2.marketwire.com/mw/frame_mw?attachid=3093710Image Available:http://www2.marketwire.com/mw/frame_mw?attachid=3093712Image Available:http://www2.marketwire.com/mw/frame_mw?attachid=3093714Image Available:http://www2.marketwire.com/mw/frame_mw?attachid=3093718 || 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 || Here's what's behind Visa's massive Q4 win: (BI Intelligence)
This story was delivered to BI Intelligence "Payments Briefing" subscribers. To learn more and subscribe, pleaseclick here.
Visa plans to stick with the approach that delivered exceptionally strong growth in Q4 2016. CEO Alfred Kelly noted that the firm doesn’t foresee making massive changes to its strategy, but will instead remain ready to adapt to industrywide changes and focus on three key areas for growth: global access, partnerships, and digital gains.
In order to best understand Visa’s growth in these areas, it’s worth taking a look at two key metrics:
• Payment volume: In Q4, Visa payment volume hit $1.8 trillion, with $803 billion coming from the US and $998 billion internationally. That’s up 39% year-over-year (YoY) on a constant currency basis. Though gross volume is down slightly sequentially, when accounting for the loss of Visa Europe co-badge volume, which was no longer counted beginning in Q4, it marks a slight acceleration. The acquisition of Visa Europe will help grow the company by adding new markets, but its performance was not the main improvement factor.
• Transaction growth: Visa processed 40.8 million transactions in Q4, up 41% on a year-over-year basis. Of those, 65% were debit, and 35% credit, indicating the strength of Visa’s massive debit network. That indicates that, though users are spending more on credit than on debit, both in the US and abroad, debit cards are used more often.
Though these gains were the product of many factors, there are a few key trends worth calling out.
• US credit appetite: Visa identified US volume, which increased by 12.4% in Q4, as a “key business driver”. Though the firm is having issues with debit, acquiring the Costco and USAA portfolios helped increase its volume. In addition, strong credit appetite in the US — spending is now at pre-recession levels — has led issuers to bolster rewards offering, which likely leads to increased issuance and rising spend, ultimately benefiting networks in the long run, according to the Wall Street Journal.
• Improved cross-border volume: For the past several years, Visa had been struggling with cross-border volume. That’s now improving — cross-border volume grew by 12% on a constant currency basis, marking acceleration that Visa calls “broad-based” and considers it a tailwind. The improvements could be a product of strong cross-border volume in Europe, inbound UK commerce rising due to a weak pound, and outbound commerce from Russia and Eastern Europe, according to the firm’s earnings call.
• India demonetization: India’s demonetization, which removed 86% of the country’s cash from circulation, had a massive and immediate impact on mobile payments. This seems to have extended to card networks as well. Visa saw a 75% increase in volume in India, and more than double the number of transactions, making the country the major driver of international transaction growth. That’s likely a bump due to a major change in policy, but the ongoing shift to cashless could help Visa maintain India as a key growth channel.
John Heggestuen, director of research atBI Intelligence, Business Insider’s premium research service, has 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
• Unpacking Visa and Mastercard's tokenization deal
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• Walmart is ramping up its battle with Visa || Flow Signs Iconic Caribbean Comedian -- Majah Hype: MIAMI, FL--(Marketwired - Jan 6, 2017) - The Caribbean's iconic comedy star, Majah Hype , is now a Flow Brand Ambassador . This internationally-recognized comedian is known for his infectious online videos, many of which have become viral sensations depicting hilarious Caribbean characters, including favourites "Di Rass," "Grandpa James" and "Sister Sandrine." Majah is more than just 'hype.' A Caribbean artist at heart, he identifies with the islands, and has taken on the task of "unifying the people of the region as one" with his own unique brand of comedy. His act, he says, serves as a means of breaking down national barriers and bringing people together with relatable content. Passionate about connecting Caribbean and diaspora audiences, Majah epitomizes the spirit, energy and dynamism of the Flow brand and its mission of connecting communities... transforming lives. Majah Hype joins Flow's impressive cadre of internationally recognized sports, music and entertainment Brand Ambassadors. Check out Majah Hype online and be among the first to like and share his upcoming Flow sketches. You deserve a rip-roaring laugh and he is very much worth the hype! 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. Story continues 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 ) 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=3096510 Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=3096512 || Costco has become a major driver of Citi's business: (BI Intelligence)
This story was delivered to BI Intelligence "Payments Briefing" subscribers. To learn more and subscribe, pleaseclick here.
Citigroup's acquisition of Costco's co-branded credit card portfolio from Amex in June 2016 continues to pay off.
In its Q4 2016 earnings release, Citi posted8%overall revenue growth on a constant-currency basis.
The Costco portfolio appears to be a major driver of Citi’s overall growth right now.
• Costco cards are still driving massive spending. The customer base, which likely totals roughly 12 million, saw over$52 billionin purchase sales in its first six months, and over $6 billion in loan growth, according to the firm's earnings call. That’s really strong performance — for context, Amex saw roughly $80 billion in Costco billed business in 2015, which puts Citi’s annual run rate roughly $24 billion ahead of the Amex card.
• That’s propelling growth in Citi’s US branded cards business. Citi’s branded cards earned $2.2 billion in revenue in Q4 2016, posting 15% growth year-over-year (YoY). Without Costco, that growth rate dips to 2%, showing the massive impact that the portfolio acquisition continues to have on Citi’s business.
• And growth in branded cards revenue is one of the major drivers of Citi overall. Citi’s other segments aren’t performing this strongly — retail banking revenue was down 4% YoY, and retail services remained flat. Growth in branded cards, which was driven by Costco, reflects just how pivotal the portfolio is to Citis’ results.
And while that’s good in the short term, the rewards rat race we’re seeing could pose some problems for the bank moving forward. Costco has given Citigroup immense growth in the months since acquisition. But it’s also leading to rising costs — operational expenses, for example, rose 6% YoY in Q4, largely reflecting expenditure on the Costco portfolio.
The firm will have to “overcome promotional balances” in order to maintain success. And though Costco feels “well-positioned” to do so, keeping an eye out for the bank’s branded cards and other new investments will be key. That’s particularly true in light of stiff rewards competition, which is raising expenses for card networks but providing sometimes limited returns.
The Costco and Citigroup relationship is just one part of the broader payments ecosystem, which has grown to include vendors, merchants, acquirers, processors, and more.
John Heggestuen, director of research atBI Intelligence, Business Insider’s premium research service, has 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 theirmobile 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
• European acquirer Worldpay is piloting a phone-based mobile point-of-sale platform
• Samsung Pay expands beyond the Galaxy in India
• Amazon's new Prime Reload program rewards users but challenges banks || 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
[Random Sample of Social Media Buzz (last 60 days)]
MMMBTC || One Bitcoin now worth $901.27@bitstamp. High $920.00. Low $876.11. Market Cap $14.475 Billion #bitcoin pic.twitter.com/yAOGf9Sbjk || Government Fears Bitcoin Will be As Awesome as Bitcoin Fans Hope It Will Be https://goo.gl/OQIGHE @reason #OneEighty || MMMBTC || The Cambridge Centre for Alternative Finance now runs a full node at their office to support the Bitcoin network http://ift.tt/2i7uiOG || MMMBTC || Class-Motion Filed To Block the IRS From Monitoring #bitcoin Customers On Coinbase https://news.82bitcoin.com/2016/12/19/class-action-filed-to-block-the-irs-from-tracking-bitcoin-users-on-coinbase-42 …pic.twitter.com/p3kRovE7hd || MMMBTC || #Bitcoin ― Bitcoin Remains The Only Viable Option To Avoid Capital Controls… http://dlvr.it/MwDVcg → powered by http://bit.do/TradOTO || #bitcoin Price Weekly Analysis Can BTC/USD Make It? - Bitcoin News #Analysis #btcusd http://newsbitcoin.info/bitcoin-price-weekly-analysis-can-btcusd-make-it …pic.twitter.com/jpVrn76d8W
|
Trend: up || Prices: 1004.45, 999.18, 990.64, 1004.55, 1007.48, 1027.44, 1046.21, 1054.42, 1047.87, 1079.98
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2015-05-12]
BTC Price: 241.11, BTC RSI: 53.99
Gold Price: 1192.60, Gold RSI: 50.20
Oil Price: 60.75, Oil RSI: 65.48
[Random Sample of News (last 60 days)]
ECB Meeting Minutes Expose Cracks In Central Bankers' Confidence: The European Central Bank's large scale bond buying plan has done wonders for the region's markets. With the exception of Greece , European nations' share markets have been on fire since the roll-out of ECB President Mario Draghi's highly anticipated quantitative easing plans. The stimulus package was also seen improving the bloc's economic struggles, but many are beginning to question whether or not the bank's investment will pay off. Minutes Show Concern At the beginning of March, the European Central Bank predicted that the eurozone would grow 2.1 percent in 2017. The figure was considered a product of the successful implementation of the ECB's bond buying program coupled with economic reform in struggling eurozone nations and gave investors hope that the region was turning a corner. However, the minutes from that meeting, released last week, show that a strong recovery in the eurozone is anything but certain. Related Link: Euro/Dollar Parity: What's Next? Projections Uncertain That 2.1 percent growth target was based on a number of factors, which ECB members said were far from being set in stone. For one, the bank's assessment of growth depended largely on oil prices remaining low throughout the next two years. While many analysts believe that oil prices are likely to be persistently weak in the coming years due to an imbalance between supply and demand, several scenarios in which production is reduced are possible as well. Difficulty Agreeing Additionally, many worry that the bank's growth forecast was too optimistic regarding the willingness of eurozone nations to carry out the necessary reforms to repair the region's fractured financial system. If the ongoing battle in Greece is any indication of the bloc's ability to come together and agree on similar fiscal objectives, there is going to be a bumpy road ahead. See more from Benzinga Good Friday Not So Great, Thanks To Data BitPay Pulls College Football Sponsorship Bitcoin's Jail Stint Creates New Currency Offering © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Microelectronics Announces Participation at the Inside Bitcoins Conference in New York: MONARCH BAY, CA / ACCESSWIRE / April 15, 2015/ Microelectronics Technology Company (OTC Pink: MELY) (MELY), is pleased to announce that BTC Pool Party, the Company's Bitcoin mining pool, will be attending and exhibiting at the Inside Bitcoins Conference in New York City April 27th - 29th.
BTC Pool Party has registered as a participant in the Inside Bitcoins Conference in New York April 27th - 29th. Additionally, BTC Pool Party will be a Sponsor for the Event and participate with a booth at the Expo during the days of the Conference.
The Company's Director of Business Development, Juan Garavaglia, is speaking on a Panel along with several industry experts on the topic of "Industrial Mining: Powered Warehouse Shell vs. Hosted Cloud Offerings".
"We believe this to be an exciting opportunity for the debut of the BTC Pool Party mining pool," states company President Mr. Brett Everett. "The Sponsorship and Expo will provide the exposure and visibility necessary to promote the upcoming launch of our Bitcoin mining pool."
BTC POOL PARTY MINING POOL
The Company is in the process of initiating the restart of the Company's Bitcoin Mining Pool with leased Peta Hash of mining power, mining on behalf of the Company. The company will be concentrating its growth efforts on the development of the BTC Pool Party until the new mining site is finalized and built out.
As previously announced, the company has a comprehensive roll out plan, which includes BTC conferences, online marketing and social media forums.
The company continues to develop and improve the BTCPOOLPARTY mining pool with the introduction of more detailed stats of the mining operations available as the Company moves forward.https://www.btcpoolparty.com.
https://www.facebook.com/btcpoolparty
Additional photos and videos can be viewed at the company's Facebook page:
https://www.facebook.com/MELYPK
Forward-Looking Statements
This news release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. While these statements are made to convey Company progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. Whereas management believes such representations to be true and accurate based on information and data available to the Company at this time, actual results may differ materially and are subject to risk and uncertainties. Factors that may cause actual results to differ include without limitation: dependence on key personnel and suppliers; MELY's ability to commercialize its technology; ability to defend intellectual property; material and component costs; competition; economic conditions; consumer demand and product acceptance, and availability of growth capital.
Additional considerations and risk factors are set forth in reports filed on Form 8-K and 10-K with the SEC and other filings. Readers are cautioned not to place undue reliance upon these forward-looking statements; historical information is not an indicator of future performance. The Company undertakes no obligation to update publicly any forward-looking statements.
CONTACT:
For further Information:Microelectronics Technology CompanyPresident:Mr. Brett Everett888-681-9777 ext. [email protected]
SOURCE:Microelectronics Technology Company || Greece Isn't The Only Flight Risk For The Eurozone: Greece's financial woes have raised questions over whether or not the eurozone should be preparing for the nation to exit the currency union. However, although Greece has been in the spotlight for the better part of three months, it isn't the only nation the European Union stands to lose in the coming year. The UK is about to hold its general election next month; the outcome of which could result in a referendum on Great Britain's relationship with the EU. Referendum On Membership Conservative Prime Minister David Cameron has promised to renegotiate Britain's relationship with the EU if he and his party are re-elected. He vowed to give the population a chance to weigh in with a referendum vote in the coming year. However, if Cameron is defeated by his Labour Party counterpart Ed Miliband, the referendum is unlikely. Coalition Likely At the moment, polls show that the two parties have relatively equal support, which most expect means the vote will end with some sort of coalition government taking power. However, if the Conservative party is included in the coalition, a referendum vote is likely to remain on the table. Related Link: Greece's Finance Minister Quotes Roosevelt To Express His Frustration HSBC Warns On Referendum Last week, British bank HSBC Holdings plc (NYSE: HSBC ) voiced its concerns about a referendum on the UK's membership in the EU, saying that economic risks could be disastrous if the region decided to leave the EU. The bank said it was evaluating the possibility of moving its headquarters out of London due to the structural reforms banks have had to face since the financial crisis and warned that whether or not Great Britain remained in the EU would play into its decision making. See more from Benzinga Bitcoin Wallet Circle Rumored To Be Raising Million Marijuana Industry Blazes The Path For A New Kind Of Lawyer Facebook Looking To Take Over Your Life With Messenger © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Your first trade for Wednesday: The " Fast Money " traders delivered their final trades for the quarter. Tim Seymour was a buyer of TEF (Mercado Continuo: TEF-ES) . Pete Najarian was a buyer of TWTR (: THEGQ) . Brian Kelly was a buyer of TLT (NYSE Arca: TLT) . Guy Adami was a buyer of BX. (NYSE: BX) Trader disclosure: On March 31, 2015 , the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Tim Seymour is long T, BAC, C, DIS, F, GE, GM, GOOGL, INTC, JCP, SUNE, Tim's firm is long BABA, BIDU, MCD, NKE, NOK, SBUX. Pete Najarian is long AMAT, AAPL, BABA, BAC, BMY, BP, CSX, DISCA, FOXA, GE, KKR, KO, LLY, MRK, PEP, PFE, SAP, he is long calls BK, CNX, COP, EBAY, EXXI, F, FCX, FL, GE, GM, GT, JD, KO, LYB, NEE, PBR, PEP, RAD, RAI, TEVA, TWTR, UA, UAL, UFS, ZIOP, today he bought RAI calls, UA calls. Brian Kelly is long BBRY, BTC=, U.S. Dollar, EEM, GLD, GSG, TLT, he is long calls CTRL, he is long puts SPY, 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 || SEO And Marketing Practitioner Michael Taggart Announces Appearance At Glazer Kennedy Insider's Circle Super Conference 2015: BOISE, ID / ACCESSWIRE / March 24, 2015 /Michael Taggart, a marketing mentor and SEO expert who has stated he can help startups create 7 figures in only 12 months, has recently announced that he will appear at the Glazer Kennedy Insider's Circle (GKIC) Super Conference 2015. This will be one of the many events where Taggart, who is also known as Michael X, has been requested to speak in regards to his work with marketing, SEO, and press releases.
Through the various conferences and other assemblies whereMichael Taggart talks press releases, he has grown an audience who access his training regularly. Each year, training on press releases with Michael Taggart averages tens of thousands of marketers who are looking to learn more about advancing their search engine optimization skills and targeting a larger volume of traffic for e-commerce.
The GKIC Super Conference, which takes place over the dates of April 29th to May 2nd, with a bonus day on May 3rd will be hosted in Minneapolis, Minnesota. Speakers such as Mike Stewart, Jeff Johnson, Lee Milteer, and Dean Jackson will also be speaking alongside Michael X, who has been hailed by the GKIC team as, "The Coolest Marketer In America". The conference coordinators had the following to say about Michael X in regards to his marketing efforts:
"One of the most renowned marketers in the world, especially in terms of local search marketing and mobile SEO, his interests include Bitcoin and crypto assets, giving him a reputation for technologically advanced knowledge, and the title of "the coolest marketer in America."
Some of the other conferences that have includedpress releases with Michael Taggartare the 7 Figure Speaking Empire, the Traffic and Conversion Summit, and SEO Rockstars, among many more. The Michael Taggart release press advantage can be enjoyed by new and upcomers in the internet marketing world, and he has made it clear through his many social media platforms and company websites just how big of a difference it can make when Michael Taggart talks press releases. He has said the following about what his goal is in terms of SEO training for startups and entrepreneurs:
"Having been in the SEO world as a practitioner, teacher, and speaker on the subject, my goal has been to show people how to get faster results and more exposure in less time by doing things right."
At first glance, theMichael Taggart release press advantageseems to be similar to that of other marketing training in this niche, but the strategy of using press releases with Michael Taggart include a number of incentives that competitors don't seem to offer. The differences can be seen in the many client testimonials available on Michael's Adventure Marketing company site, as well as various other online resources designed and maintained by Michael and his team.
For questions or concerns regarding this press release or for more information on Michael X Marketing, please use the following contact information to get in touch:
Company Name: Michael X MarketingContact Name: Michael TaggartPhone Number: 1 (208)908-0626E-mail Address:[email protected] Address: 5430 Misty Ridge Way, Boise, Idaho 83713
SOURCE:Michael X Marketing || Arizona State Makes College More Attainable: Last week, Arizona State announced its plans to make the courses for an entire freshman year of college available online for students to access from anywhere in the world. While the prospect of online degree courses is nothing new, Arizona State is setting an important precedent for US schools the entire program will be free of charge. A New Way To Learn The US university will be working together with edX, a non-profit online learning platform that was created by Harvard University and the Massachusetts Institute of Technology, to provide higher level learning to anyone who wants it. The courses will be available to be taken for college credit, which the students can then use toward a degree at Arizona State or any other University that accepts the transfer credits. Try Before You Buy The program is expected to significantly improve the college experience for many different groups as it will allow students to build confidence before spending a great deal on college. Around 40 percent of those who start at a US college are unable to earn a degree within six years, but the online program is expected to help decrease those figures. Related Link: Are Consumers Being Deceived About Organic Foods? Students can take the Arizona State courses online free of charge, and pay $200 per credit once the course is passed in order to redeem university credit. If a student fails the course or decides against using their credits, they won't be charged. By taking and passing an entire year's worth of classes, students can compete their freshman year of college for just $5,160, compared to out-of-state students living on campus who often pay nearly $40,000 per year. A Wide Range Of Audiences The online program is expected to draw in a wide variety of students who, for some reason or another, don't want to shell out the cash for a year of tuition. The university said it is expecting foreign students who want to study in the US to sign up as well as those who dropped out of school or decided not to continue their education past the high school level. Story continues The program will also be useful for high school students who want to determine whether or not they are ready to go on to college. See more from Benzinga Improving Relations With Cuba Likely To Boost The Ferry Business Bitcoin Exempt From VAT Tax In Spain The Shift Toward Automated Investment Advisors © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Coin.co CEO: Bitcoin's Impact On Society Will Rival The Internet: Bitcoinis praised by those who have benefited from the digital currency, butnot everyone agreesthat it will last.
Alex Waters, CEO ofCoin.co(a bitcoin payments company), recently told Benzinga about his grand vision for the cryptocurrency.
"I think [it will] rival the Internet as far as how widely it could affect the world in a positive way," said Waters, whose company is among those that are competing in theBenzinga Fintech Awards. "I could say that the Internet has enabled things like email and social networks and personal websites, blogs. In many of the same ways, bitcoin enables (as a platform) decentralized organization and tokenization of securities and commodities and a whole bunch of really compelling things that are built on top of a platform."
Waters defended his bold prediction by comparing the Internet to electricity.
"I think to look at it as electricity has given us the Internet, maybe the Internet has given us bitcoin," he said. "So, what I say is, it rivals the Internet as far as its impact on humanity and the benefits to humanity. As much as electricity has benefited humanity, perhaps the Internet rivals that."
Related Link:6 Reasons To Attend The Benzinga Fintech Awards
Future Success - Or Failure?
Waters said that it was "really hard to say" what bitcoin will look like in the distant future, but he is confident that it will survive and remain the leader in its field.
"As far as, 'Will bitcoin be the thing that exists in 10 or 20 years [and] be the dominant digital currency?' -- I think so," said Waters. "I think, very much like Linux, it is an open-sourced platform. It is able to adapt and grow. If a competitor were to come up with something innovative that's better, bitcoin could just incorporate those changes."
Waters noted that bitcoin has already achieved critical mass, has momentum and a "large number of really intelligent people working on it."
"Tons of people have invested money into it," he said. "For example, the amount of venture capital invested in bitcoin companies last year surpassed that of the Internet in 1994. This year some analysts predicted that approximately $200 to $500 million will be invested in bitcoin companies."
Rejected Ideas
Waters realizes that some people may never be persuaded to use bitcoin until it has obtained a high degree of mainstream acceptance. He said the same thing happened with other ground-breaking technologies, such as the automobile.
"Historically, cultures scoff at new technology," Waters explained. "A good example (in recent history) was the automobile. It was laughed at. It was sensationalized politically and in the media for enabling rum-runners to avoid the prohibition laws. Obviously that's silly, looking retrospectively."
Waters said that the media's "sensational painting of bitcoin" is equally as silly.
"If we look at percentages of dark market and that sort of thing, it's not really a concern," he added. "It's still a concern, but it's not as it's portrayed. I think people will scoff at things like a unified global currency or something as sci-fi as credits."
As recently as 15 years ago, Waters believes some individuals may have scoffed at the idea of building robots that resembled humans.
"And yet we see [Google-owned] Boston Dynamics building actual robots that look and resemble humans in the way they move around and behave," he said. "I think bitcoin is one of those things where people discredit it or doubt it, but it is such a technological advancement that it will have its day."
Coin.co's Next Step: The Benzinga Fintech Awards Gala
Coin.co is heading to the Benzinga Fintech Awards Gala on April 8. Space is limited (the initial batch of tickets are already sold out), so Benzinga is encouraging interested parties topurchase their ticketsimmediately (use coupon code BZFRIEND to save $100 off the regular admission price).
Disclosure:At the time of this writing, Louis Bedigian had no position in the equities mentioned in this report.
See more from Benzinga
• Why Amazon's 'Me-Too' Music Service Is A-OK
• Is Xiaomi A Threat To GoPro, Apple, Sony... Everyone?
• Digital Ally Rises 17% After Earnings; Time To Buy?
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || More Dirty Dealing at the DEA: $113,000 Stolen in Credit Card Scam: It’s been a tough month for the Drug Enforcement Agency. Just yesterday, lawmakers grilled the agency’s commissioner over a report alleging that DEA agents have participated in several “sex parties” with prostitutes funded by drug cartels. A week before that, one DEA officer was charged with stealing Bitcoin from the federal government and laundering money while working at the center of the investigation into the Silk Road last year. Now, the agency is back under the spotlight once again as a former official pleaded guilty to defrauding the government out of more than $113,000. Related: Feds Busted for Stealing Bitcoins, Extorting Silk Road Founder Maryland-based DEA employee Keenya Meshell Banks, who was in charge of issuing government credit cards to federal workers, admitted to issuing 32 cards to dozens of fake DEA employees that she created. Federal investigators said Banks then used the cards to withdraw cash from ATMs around the Washington, D.C. metro area. The DEA isn’t the only agency to be hit with credit card fraud. Last year, federal investigators alleged that employees of Jobs Corps, a Department of Labor training program, were blatantly abusing government-issued charge cards that were intended for travel but instead used on personal items like trips to the hair salon and cellphone bills. Related: Prostitute Partying by DEA Goes Way Back At the time, auditors said Jobs Corps workers racked up at least $250,000 in improper purchases at taxpayers’ expense, while flagging another $4 million as “questionable transactions.” Likewise, employees at the Environmental Protection Agency and the Internal Revenue Service have also been flagged for improper use of government charge cards. The problem has been so widespread across the federal government that Congress passed legislation back in 2012 requiring agencies to frequently review their purchase card programs. The Office of Management and Budget also issued new guidelines warning that workers caught improperly charging their cards could face dismissal, or like DEA employees Banks, criminal charges. Banks is scheduled to be sentenced on June 29. Top Reads from The Fiscal Times: The Government’s $125 Billion Slap in the Face to Taxpayers How to Build a $400 Billion F-35 That Doesn’t Fly Lawmakers Took 1,912 Trips Last Year on Someone Else’s Dime || Ripple Labs Names Former State Department Official Anja Manuel as Advisor: SAN FRANCISCO, CA--(Marketwired - Mar 18, 2015) -Ripple Labstoday announced that it has named Anja Manuel, Co-Founder and Partner atRiceHadleyGatesLLC, and a former U.S. Department of State official, as an advisor to the company.
"Rippleis one of the most innovative technologies I have seen," said Manuel. "It has the potential to expand the global economy through increased trade, and enables better, more transparent regulatory oversight of payments. I am excited to help build on Ripple's impressive momentum and help it to gain traction internationally."
Manuel is a Co-Founder and Partner along with former Secretary of State Condoleezza Rice, former National Security Advisor Stephen Hadley, and former Secretary of Defense Robert Gates in RiceHadleyGates LLC, a strategic consulting firm that assists senior executives at major U.S. companies in key emerging markets such as China, India and the Middle East. She also teaches in Stanford University's International Policy Studies program.
Previously, Ms. Manuel served as an official at the U.S. Department of State, where she held responsibility for South and Central Asian policy, congressional outreach, and legal matters. She was part of the negotiating team for the U.S.‐India civilian nuclear accord, helped to secure passage of the accord through the U.S. Congress, and was extensively involved in developing U.S. policy toward Afghanistan and Pakistan.
Prior, Ms. Manuel was an attorney atWilmerHaleand investment banker at Salomon Brothers International in London. She holds a B.A. and M.A. from Stanford University and a J.D. from Harvard Law School.
"I am excited to welcome Anja to the Ripple Labs team," said Ripple Labs CEO and co-founder Chris Larsen. "Her advice will be key as we grow our international presence and Ripple's adoption by financial institutions and payment networks across the world."
Ripple Labs supports the adoption of Ripple, a settlement protocol that enables the world's disparate financial networks to securely transfer funds in any currency in real time. Banks, money transmitters and clearing houses can use Ripple as an alternative to correspondent banking to facilitate straight through processing with no reserve funding required.Earthport, the largest open network for global bank payments, and three banks in the United States and Germany recently announced integrations with Ripple.
Ripple was created to enable the world to move value as easily as information moves today, giving rise to an Internet of Value (IoV) akin to today's Internet of Knowledge. For more information about Ripple Labs, please visithttp://www.ripplelabs.com. For more information about Ripple, please visithttp://www.ripple.com.
About Ripple LabsRipple Labs is the global leader on distributed financial technology. The team supports adoption of the Ripple protocol, an Internet of Value (IoV) that enables the free and instant exchange of anything of value. The San Francisco-based startup is funded by Google Ventures, Andreessen Horowitz, IDG Capital Partners, Core Innovation Capital, FF Angel, Lightspeed Venture Partners, Bitcoin Opportunity Corp. and Vast Ventures.
Named one of 2014's50 Smartest Companiesby MIT Technology Review, Ripple Labs' team of 100 is comprised of deeply experienced cryptographers, security experts, distributed network developers, Silicon Valley and Wall Street veterans. They contribute code to the open-source software, as well as develop tools for and recruit financial institutions and payment networks to use Ripple. The team shepherds a movement to evolve finance so that payment systems are open, secure, constructive and globally inclusive.
About RippleRipple is an Internet protocol that interconnects all the world's disparate financial systems to enable the secure transfer of funds in any currency in real time -- consider it an Internet of Value (IoV). As settlement infrastructure, Ripple transforms and enhances today's financial systems. Ripple unlocks assets and provides access to payment systems for everyone, empowering the world to move value like information moves today. For more information about Ripple, please visithttp://www.ripple.com. || Gold Investment Letter New Blog Report: Bitcoin Shop -- New Bitcoin ETF's May Drive Demand: CHICAGO, IL--(Marketwired - Apr 7, 2015) - The Gold Investment Letter helps sophisticated investors discover and maximize profits ingold,silver, andmining stocks. In today's blog update we have focused onBitcoin Shop(OTCQB:BTCS).
The post can be read on our blog page:http://www.goldinvestmentletter.com/blog/
About Gold Investment Letter
Gold Investment Letter is aninvestment newsletterthat focuses ongold stocks,mining stocks,and investing inundiscovered companies. We isolate the mostundervalued stocksto position ourselves and our subscribers. In today's blog update we have focused onBitcoin Shop(OTCQB:BTCS)
The editor of Gold Investment Letter,Eric Muschinski, is President and CEO of Phenom Ventures, President of Investor Media Inc, and a Director with Equities.com.
[Random Sample of Social Media Buzz (last 60 days)]
現在の価格は 29594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 || $235.14 at 16:30 UTC [24h Range: $231.00 - $245.24 Volume: 11147 BTC] || 2015年4月11日 19:00:09
btc_jpy
直近[last]:28900円
買[bid]:28583円
売[ask]:28642円
高値[high]:29350円
安値[low]:28435円
API by Zaif || current #bitcoin price (winkdex) is $228.86, last changed Sat, 25 Apr 2015 06:45:00 GMT. queried at: 06:47:54 || buysellbitco.in #bitcoin price in INR, Buy : 15824.00 INR Sell : 15278.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || LIVE: Profit = $1,018.81 (29.23 %). BUY B15.36 @ $226.64 (#Bitfinex). SELL @ $235.00 (#VirCurex) #bitcoin #btc - http://www.projectcoin.org || current #bitcoin price (winkdex) is $220.04, last changed Tue, 14 Apr 2015 14:44:00 GMT. queried at: 14:47:26 || current #bitcoin price (winkdex) is $234.42, last changed Thu, 23 Apr 2015 12:55:00 GMT. queried at: 12:57:51 || buysellbitco.in #bitcoin price in INR, Buy : 15909.00 INR Sell : 15421.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || In the last 10 mins, there were arb opps spanning 23 exchange pair(s), yielding profits ranging between $0.00 and $772.67 #bitcoin #btc
|
Trend: up || Prices: 236.38, 236.93, 237.60, 236.15, 236.80, 233.13, 231.95, 234.02, 235.34, 240.35
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2021-03-25]
BTC Price: 51704.16, BTC RSI: 44.49
Gold Price: 1724.90, Gold RSI: 42.41
Oil Price: 58.56, Oil RSI: 43.48
[Random Sample of News (last 60 days)]
First Mover: Who ISN’T Dabbling as Bitcoin Passes $52K, Ether Tops $1,900: Price Point Bitcoin (BTC) was lower after surging on Wednesday to a new all-time high price above $52,000, while ether (ETH) topped $1,900 for the first time, pushing toward the psychologically crucial $2,000 mark. “My sense is the technology has evolved and the regulations have evolved to the point where a number of people find it should be part of the portfolio, so that’s what’s driving the price up,” Rick Rieder, head of global allocation for the $8.7 trillion money manager BlackRock, told CNBC . “We’ve started to dabble a bit.” In traditional markets, European shares slid and U.S. stock futures pointed to a lower open , amid concern that rising bond yields might sap this year’s momentum in equity markets . That’s despite a U.S. government report Wednesday showing consumers rushed to spend stimulus checks in January , bolstering retail sales, while minutes from the Federal Reserve’s meeting last month showed officials expected their $120 billion-a-month of asset purchases would continue for “some time.” Related: Thailand Wants to Target Japanese Crypto Holders as Part of Plan to Revive Tourism A growing number of investors say bitcoin might serve as a hedge against inflationary policies as governments and central banks pump trillions of stimulus money into the coronavirus-racked economy. The News COINBASE VALUATION: Coinbase, the cryptocurrency exchange readying a public listing, is valued at $77 billion based on trading in privately held shares on the Nasdaq Private Market, CoinDesk’s Ian Allison reported . The amount is greater than the market capitalization of Intercontinental Exchange Inc., owner of the New York Stock Exchange. (For what it’s worth, Tesla used Coinbase for its $1.5 billion bitcoin purchase, according to The Block .) ROBINHOOD REBOUND: Beleaguered online brokerage app Robinhood says it plans to enable withdrawals and deposits of cryptocurrencies including dogecoin ( DOGE ). In a tweet Wednesday , the app provider said it “fully intends” to provide the extra functionality, without giving a date. Currently, traders can only buy and sell crypto assets within the app, according to its support page . The tweet came an hour before Bloomberg published an article asserting that Robinhood was the owner of the world’s largest dogecoin wallet. (EDITOR’S NOTE: Go here for a livestream of the U.S. House of Representatives hearing starting at noon ET (17:00 UTC) on the GameStop stock-trading saga , featuring Robinhood CEO Vlad Tenev (prepared remarks here ), Reddit CEO Steve Huffman and Citadel CEO Kenneth Griffin .) Story continues MASTERCARD PAYS IN SAND DOLLARS: People in the Bahamas now have the option of loading the country’s central bank digital currency, known as the Bahamas Sand Dollar, onto a prepaid Mastercard to enable use anywhere in the world, the payments giant has announced . Related: What Is a Bitcoin ETF? BITWISE DEFI: Bitwise Asset Management has launched a decentralized finance index fund , CoinDesk’s Danny Nelson reports. The money manager aims to capitalize on growing investor demand for digital tokens associated with the fast-growing decentralized finance (DeFi) arena, a segment of the cryptocurrency industry where entrepreneurs are building software-automated versions of banks and trading platforms atop blockchain networks. Bitcoin Watch Decline in “whale” entities worth watching, CoinDesk’s Omkar Godbole writes The number of large bitcoin investors or “whales” has declined recently after rising over the past year, blockchain data show, potentially a bearish signal if it means there’s less buying pressure from large accounts. Wallet addresses or clusters of related addresses holding at least at least 1,000 bitcoins (roughly $50 million worth) have dropped by a little over 1% to 2,200 in the past nine days, according to Glassnode, a blockchain data provider. The cryptocurrency, however, has risen from $40,000 to $52,000 during the same timeframe. So spot-market inflows might need to pick up soon to keep the bullish momentum going , as derivative markets are looking overheated. Token Watch Ether ( ETH ): Ethereum cryptocurrency looks overleveraged after rising to new all-time-high price over $1,900. Signals from derivatives market suggest that traders are heavily skewed toward leveraged bet on further upside, potentially a harbinger of fresh volatility. Cosmos ( ATOM ): Upstart “ecosystem of blockchains” plans to go live Thursday with “Stargate” upgrade. “Stargate represents an important milestone for the Cosmos project on the way to launching its inter-blockchain communication (IBC) protocol that will allow the 200+ Tendermint-based blockchains to interoperate easily,” CoinDesk’s Brady Dale writes . PoolTogether ( POOL ): “Lossless lottery” set up in 2019 will airdrop new token to all users who have joined it for the ride so far. “No-loss prize savings is one of the most, if not the most used consumer financial primitive in the whole world,” PoolTogether founder Leighton Cusack said. Opinions and Observations BITCOIN ON THE BALANCE SHEET? The U.S. will eventually adopt bitcoin as a reserve asset, argues Zabo co-founder Alex Treece in an op-ed for CoinDesk Opinion . DOGECOIN DREAMS: Rise of the Shiba Inu-themed “meme token” dogecoin reflects the power of collective belief and a longing for a more ideal form of crypto, CoinDesk’s Emily Parker writes in op-ed: “It may be tempting to write this off as a speculative frenzy or just a fluke, but that would be missing the larger picture.” BUY THE TOP: People who bought bitcoin at the previous price peak in 2017 have outperformed the Standard & Poor’s 500 Index 3.5-fold, the crypto trader Alex Kruger tweeted . Related Stories First Mover: Who ISN’T Dabbling as Bitcoin Passes $52K, Ether Tops $1,900 First Mover: Who ISN’T Dabbling as Bitcoin Passes $52K, Ether Tops $1,900 || Canadian Bank Launching Fiat-Backed Digital Currency in Claimed World First: Canadian bank VersaBank is to launch a stablecoin called VCAD that it plans for use in commerce. In an announcement Wednesday, the bank claims the Canadian-dollar linked VCAD is the first digital currency issued by and backed by deposits with a North American bank. For the launch, VersaBank partnered with Stablecorp, a joint venture between crypto asset manager 3iQ and blockchain development firm Mavennet – both also Canada-based. Currently, the digital currency is only being issued by VersaBank to financial intermediary partners in exchange for Canadian dollar deposits. The partners will then offer VCAD directly to individuals and businesses for use in commerce. VCAD will be redeemable for Canadian dollars as required after that, the bank said. “As North America’s first bank-issued ‘stablecoin’ VCAD offers consumers and businesses the ability to adopt and leverage the benefits of digital currency and blockchain-based assets without the volatility of traditional currencies, alongside the security of a value-backed asset that the cryptocurrency world has long demanded,” said David Taylor, president of VersaBank and its cybersecurity subsidiary, DRT Cyber. The bank said it expects VCAD to be available to the general public in coming months. Read more: Canada’s First Bitcoin ETF Hits $421.8M AUM in Two Days Related Stories Canadian Bank Launching Fiat-Backed Digital Currency in Claimed World First Canadian Bank Launching Fiat-Backed Digital Currency in Claimed World First Canadian Bank Launching Fiat-Backed Digital Currency in Claimed World First Canadian Bank Launching Fiat-Backed Digital Currency in Claimed World First || Bitcoin Mining Farms in Texas Offline From Winter Storm: Bitcoin mining farms in Texas have gone offline because of a massive winter storm that drained the states power grid. While some mining farms have stopped operations due to power outages, others are selling electricity back to the grid at a premium, said Ethan Vera, co-founder of Luxor Tech, which is a U.S.-based crypto mining company. Most mining farms are offline, Vera said. Due to the Texas outage, hashrate generated from Luxors mining pool has decreased by 40%. The majority of hashrate for the entire mining pool comes from the U.S. mining farms, Vera said. Related: Central Bank Digital Currencies May Drive Cash 'Shadow Economy' to Crypto: Reuters While it is not clear what exact percentage of hashrate in the global mining pool is from Texas-based facilities, some of the largest bitcoin mining companies, such as Bitmain and Layer 1, have operations in Texas because of the states cheap electricity. Crypto mining giant Bitmain built one of the worlds largest bitcoin mines in Rockdale, East Texas, in 2019. Peter Thiel-backed crypto mining company Layer1 Technologies started operating its bitcoin factories in West Texas in early 2020. Publicly traded bitcoin mining company Argo Blockchain (ARB) announced last week it intended to acquire land to build mining facilities in West Texas. Some mining farms are taking advantage of the situation by selling local residents their unused electricity. Some bitcoin miners were able to capitalize on selling their unused energy back to the grid for a huge profit, JP Baric, CEO of Texas-based crypto mining company MiningStore, said on Sunday. Related: MicroStrategy Boosts Latest Debt-for-Bitcoin Offering to $900M Texas power grid has already lost a small portion of energy production over the last weekend because wind turbines were frozen and natural gas available to electric plants became scarce, according to Dan Woodfin, senior director of The Electric Reliability Council of Texas (ERCOT). Story continues By Sunday all types of energy sources, including nuclear plants, coal plants and thermal generators, were falling off the grid due to the winter storm, Woodfin said, according to a report in the Austin American Statesman. According to TechCrunch , about 30 gigawatts worth of energy is offline, with 26 gigawatts of that from thermal energy and the remainder coming from wind sources. The impact of the extreme weather conditions on bitcoin mining facilities goes beyond the Lone Star State. Mining farms in Kentucky have also been negatively affected by the storms. Related Stories Bitcoin Mining Farms in Texas Offline From Winter Storm Bitcoin Mining Farms in Texas Offline From Winter Storm || Bitcoin extends gains above $47,000 in Asia: SINGAPORE (Reuters) - Cryptocurrencies extended gains in Asia on Tuesday, with bitcoin and ethereum reaching record highs, in the wake of a Tesla Inc investment in bitcoin. Bitcoin posted its largest daily percentage gain in more than three years overnight, after Tesla made the announcement in its 2020 annual report. Bitcoin added as much as 2.5% to hit a record high of $47,565.86 on Tuesday and has gained 61% for the year so far. Ethereum hit a record of $1,784. (Reporting by Tom Westbrook in Singapore and Stanley White in Tokyo; Editing by Himani Sarkar) || Blue Ridge Bank Shares Halted by NYSE After Bitcoin ATM Announcement: The New York Stock Exchange (NYSE) halted trading of Virginia-based Blue Ridge Bank’s stock (BRSB) after a spike in trading activity Wednesday, the company told CoinDesk in an email. The company announced late Tuesday that it had opened up bitcoin redemptions and purchases at 19 of its ATMs . The stock started the day trading just under $20 and jumped to $22.61 before settling to $21.22 as of press time. “NYSE told us the company’s stock reacted to the news and due to the volatility, a Limit Up/Limit Down (LULD) trading halt was triggered,” said Blue Ridge external spokesperson Jon Amar. “The LULD is a 5-minute trading pause. Currently, the stock is trading up approximately 5% on 75K shares vs. its 30 Day ADV of 10K shares.” Related: Uber CEO Says Company to Consider Crypto for Rides, Not Its Balance Sheet The NYSE did not respond to a request for comment by press time. Related Stories Blue Ridge Bank Shares Halted by NYSE After Bitcoin ATM Announcement Blue Ridge Bank Shares Halted by NYSE After Bitcoin ATM Announcement Blue Ridge Bank Shares Halted by NYSE After Bitcoin ATM Announcement View comments || FOREX-Dollar slides on improving European, U.K. economic outlooks, commodities bounce: (Revises, updates prices.) * Dollar index falls again * Euro back to January levels against dollar * Australian dollar makes three-year peak * Sterling near three-year highs as lockdown end comes in view * Bitcoin pares losses of as much as 16% * Graphic: World FX rates https://tmsnrt.rs/2RBWI5E By David Henry NEW YORK, Feb 22 (Reuters) - The U.S. dollar resumed its slide on Monday and reached multi-year lowsagainst the British pound and the Australian dollar as traders focused on the promise of coronavirusvaccinations and the outlooks for economic growth and inflation that could push bond yields higher. The U.S. dollar index was last down 0.3% in afternoon trading in New York at 90.046 and abouteven for the year. The dollar has been trending down in February and has now given up about all of itsJanuary recovery from a 2020 decline of nearly 7%. The dollar's latest retreat comes with spreading belief that the U.S. will go farther than necessary tosupport the economy with government spending and easy money policies and end up with too much inflation andtoo much additional debt. Looking for any sign that the U.S. Federal Reserve might become less dovish and more mindful ofinflation, markets will be watching testimony on Tuesday from Federal Reserve Chair Jerome Powell to theSenate Banking Committee. The dollar's downtrend has come as the benchmark yield on 10-year Treasury notes has climbed to 1.37%from 1.1% at end of January. The 10-year yield was relatively steady in trading on Monday in advance ofPowell's testimony, which will go into a second day on Wednesday before another committee. "The dollar continues to wax and wane with U.S. data that have painted a mixed picture of the world’sbiggest economy," Joe Manimbo, senior market analyst at Western Union Business Solutions, said in a note onMonday. Weakness in U.S. employment has been undermining dollar rallies as markets see wavering jobs datareinforcing the Federal Reserve's commitment to low interest rates, Manimbo added. The euro rose 0.4% against the dollar to $1.2162. Data on Monday showed German business moralerose more than expected in February due notably to the country's resilient industrial sector. Exchange rates between the euro and dollar will depend "on whether the U.S. economy really will be ableto achieve a stronger post-lockdown boom than Europe," Commerzbank analyst Ulrich Leuchtmann said. The British pound was last up 0.5% to $1.4066 and the highest levels since April 2018 as PrimeMinister Boris Johnson announced a path out of lockdowns on the UK's relative success providing COVID-19vaccinations. "We've clearly started to price in a lot of good news," said Ned Rumpeltin, head of European currencystrategy at TD Securities. The U.S. dollar fell to three-year lows against the Australian dollar, which benefits from risingcommodity prices. The Aussie was last up to $0.7917, at its highest levels since March 2018. "Commodity currencies and the pound are particularly strong against the dollar, and this trend looks setto continue," said Yukio Ishizuki, foreign exchange strategist at Daiwa Securities. Australia on Monday began its mass COVID-19 vaccine programme as the country looked set to report nolocal cases for the third straight day, which gave the Aussie a boost. Bitcoin fell 6% on Monday to $53,866 after surging to a record high of $58,354 a day earlier.The cryptocurrency pared losses as fallling as much as 16% on Monday and going as low as $47,400. ======================================================== Currency bid prices at 3:12PM (2012 GMT) Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid Previous Change Session Dollar index 90.0460 90.2910 -0.27% 0.072% +90.5780 +89.9900 Euro/Dollar $1.2162 $1.2118 +0.36% -0.46% +$1.2170 +$1.2092 Dollar/Yen 105.0550 105.4900 -0.42% +1.70% +105.8400 +105.0000 Euro/Yen 127.78 127.75 +0.02% +0.68% +128.2400 +127.5100 Dollar/Swiss 0.8959 0.8965 -0.06% +1.27% +0.9023 +0.8949 Sterling/Dollar $1.4066 $1.4001 +0.47% +2.96% +$1.4085 +$1.3980 Dollar/Canadian 1.2608 1.2619 -0.08% -0.98% +1.2653 +1.2581 Aussie/Dollar $0.7917 $0.7868 +0.64% +2.93% +$0.7929 +$0.7855 Euro/Swiss 1.0895 1.0859 +0.33% +0.81% +1.0915 +1.0863 Euro/Sterling 0.8645 0.8645 +0.00% -3.27% +0.8660 +0.8634 NZ $0.7328 $0.7297 +0.44% +2.06% +$0.7343 +$0.7282 Dollar/Dollar Dollar/Norway 8.4870 8.4760 +0.05% -1.24% +8.5375 +8.4370 Euro/Norway 10.3252 10.2642 +0.59% -1.35% +10.3299 +10.2173 Dollar/Sweden 8.2680 8.2786 +0.36% +0.87% +8.3080 +8.2526 Euro/Sweden 10.0559 10.0195 +0.36% -0.20% +10.0641 +10.0135 (Reporting by David Henry in New York and Julien Ponthus in LondonAdditional reporting by Stanley White in TokyoEditing by Paul Simao and Chizu Nomiyama) || Bots, Inc.s Incubation Client Tipestry the Original Social Media Platform with Built-in Dogecoin Tipping has Partnered with the Dogecoin Cash Public Benefit Corporation to Develop and Distribute the new DeFi Token Dogecoin Cash: SAN JUAN, Puerto Rico, Feb. 17, 2021 (GLOBE NEWSWIRE) -- BOTS, Inc. (OTC: BTZI) (GERMAN EXCHANGE: M06.SG), an emerging innovator of products, technologies, and services for the rapidly growing digital robotic automation and manufacturing industry announced today that BTZIs incubation client Tipestry, together with its affiliate partner Dogecoin Cash Public Benefit Corporation, has developed the new DeFi token Dogecoin Cash. Dogecoin Cash (COIN: DOG) is an ERC-20 token built on the Ethereum blockchain, combining the meme power of traditional Dogecoin with the advantages of Ethereum. The features of Dogecoin Cash include compatibility with Ethereum wallets, tradability on DeFi platforms including Uniswap, decentralized staking via smart contract, and a fixed supply with no inflation. To help fairly distribute Dogecoin Cash, Tipestry will award DOG to its community through giveaways and contests, and Dogecoin Cash PBC will grant 420,000,000 DOG to both First Bitcoin Capital Corp (OTC: BITCF) and Bots, Inc. Tipestry will also continue rewarding content creators with traditional Dogecoin (COIN: DOGE). In addition to built-in Dogecoin tipping, Tipestry awards Dogecoin to its members for receiving upvotes on their posts, participating in contests, and referring friends to the platform. To date, more than 1 million DOGE has been earned by Tipestry users worldwide. Now, with the addition of Dogecoin Cash to the platform, Tipestry can offer even greater rewards to the community. We are thrilled with the progress and growth Tipestry has made since joining our incubation program. I encourage everyone to consider switching to Tipestry from competing platforms such as Facebook and Twitter as it provides a far more rewarding experience, commented company CEO Paul Rosenberg. About Tipestry Tipestry is a new kind of social media and web annotation platform that automatically adds a comment section with built-in tipping to any website, letting people leave comments anywhere online and earn Dogecoin, Bitcoin, Ether, Tipcoin, PRES, JOE, and YE, and Dogecoin Cash for their posts. The companys mission is to make social media fairer, less centralized, more respectful of users' privacy, and to give people around the world the opportunity to earn digital collectibles and cash for creating and sharing content. Story continues Bots, Inc. acquired a 6% stake in Tipestry, which is now a member of the Bots Startup Incubator program, as part of its asset purchase from First Bitcoin Capital Corp. Sign up at https://tipestry.com/ About Dogecoin Cash Dogecoin Cash ( https://www.dogecoincash.org ) was developed on the Ethereum blockchain with a capped supply of the number of tokens mined on the original Dogecoin network as of this week, so that, unlike Dogecoin, Dogecoin Cash has zero inflation. It also features decentralized staking ( https://www.stake.dog ), allowing owners to deposit their Dogecoin Cash through Ethereum wallets like MetaMask and earn up to 20% interest per year for supporting the network. About BOTS, Inc. Headquartered in San Juan, Puerto Rico, BOTS, Inc. - publicly traded on the OTC Markets under the symbol (BTZI) and Börse Stuttgart under the ticker (M06.SG) - is a diversified company developing and servicing blockchain, cybersecurity and robotics solutions for its clientele. The Company is committed to driving the innovations needed to shape the future of digital robotic automation management through digital technology and decentralized blockchain solutions. Management is dedicated to the strong growth of Distributed Asset Technology and Robotic Process Automation (RPA). Shareholders, potential investors, and others should note that we announce material events and material financial information to our shareholders and the public using our website and the social media addresses listed below, as well as in our SEC filings, press releases, public conference calls, and webcasts. We also use social media to communicate with our subscribers and the public about our company, our services, and other issues. It is possible that the information we post on social media could be deemed to be material information. Therefore, we encourage shareholders, the media, and others interested in our company to review the information we post on the U.S. social media channels listed below. This list may be updated from time to time. Track BTZI news on Facebook @ https://www.facebook.com/Bots.Bz/ Follow BTZI news on Twitter @Bots_bz http://www.Twitter.com/Bots_bz Find BTZI news at http://www.bots.bz Bots, Inc. has been featured in media nationwide, including CNBC, Bloomberg, TheStreet.com. For more information, visit http://www.bots.bz Visit BTZI on Facebook https://www.facebook.com/Bots.Bz/ Follow BTZI on Twitter @Bots_bz 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 the 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 website and filings. Contact: Paul Rosenberg CEO [email protected] || Argo Blockchain Gets Priority Access to ePIC’s Bitcoin Miner Production, Starts With $8M Buy: U.K.-listed Argo Blockchain (ARB) has signed an agreement with ePIC Blockchain Technologies bringing it priority access to production runs of ASIC bitcoin mining machines for the next two years.
• Announced Monday in a press release, Argo said the deal will also see the two firms work together to develop miners built to Argo’s specifications.
• Initially, Argo has agreed to purchase $8 million of Canada-based ePIC’s “state-of-the-art” ASICs, with delivery expected in early Q4, 2021. Deliveries for other batches will start on a larger scale in 2022.
• “This partnership will not only give Argo priority in accessing the most advanced mining infrastructure available, but it also highlights our reputation within the sector as an innovative and forward-thinking cryptocurrency miner,” said Peter Wall, chief executive of Argo Blockchain.
• As it seeks to expand its mining operations, Argo this monthsigneda non-binding letter of intent with a New York-based firm to acquire 320 acres of land to build a 200-megawatt mining center.
Read more:Chinese Retailer Goes From Bubble Tea to Crypto Mining in Unlikely Pivot
• Argo Blockchain Gets Priority Access to ePIC’s Bitcoin Miner Production, Starts With $8M Buy
• Argo Blockchain Gets Priority Access to ePIC’s Bitcoin Miner Production, Starts With $8M Buy
• Argo Blockchain Gets Priority Access to ePIC’s Bitcoin Miner Production, Starts With $8M Buy
• Argo Blockchain Gets Priority Access to ePIC’s Bitcoin Miner Production, Starts With $8M Buy || Why Are ETF Investors Dumping Bonds?: This article was originally published on ETFTrends.com. Amid growing concerns that the aggressive stimulus policies will fuel a spike in inflation, exchange traded fund investors have been dumping fixed income assets. Bond prices have pulled back while yields climbed on growing concerns over the possibility of higher inflation, which would diminish the real yield of fixed income assets. Fueling concerns, Treasury Secretary Janet Yellen told CNBC that she still believes President Joe Biden’s $1.9 trillion stimulus package is required to put the U.S. economy back to full strength, CNBC reports . “We think it’s very important to have a big package [that] addresses the pain this has caused – 15 million Americans behind on their rent, 24 million adults and 12 million children who don’t have enough to eat, small businesses failing,” Yellen said. Yellen argued for the package despite signs that momentum is building in the first two months of 2021. “Inflation has been very low for over a decade, and you know it’s a risk, but it’s a risk that the Federal Reserve and others have tools to address,” Yellen added. “The greater risk is of scarring the people, having this pandemic take a permanent lifelong toll on their lives and livelihoods.” Furthermore, Biden is also eyeing other fiscal stimulus measures, such as large spending plans on infrastructure and other investments later this year. Meanwhile, the Federal Reserve has said that it is willing to allow inflation to peak above its 2% target after years of running well below this level. As concerns mount, investors have been cutting out of bonds on speculation that central banks would begin to reduce accommodative monetary policies like the infinite bond purchasing plans in a bid to ease inflationary pressures. For more information on the fixed-income market, visit our bond ETFs 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 Throw Out The Playbook: How to Build A Crypto ETF Stock ETFs Continue to Decline Amid Rising Bond Yields The Mysteries of Volatility and Risk Reinventing Capitalism – The Bitcoin ETF Opportunity Ranking The Historical Returns of Asset Classes READ MORE AT ETFTRENDS.COM > || Tesla CEO Elon Musk takes major u-turn on Bitcoin: Tesla CEO Elon Musk was involved in another Twitter storm overnight, tweeting that Bitcoin is almost as BS as fiat money in spite of Teslas recent $1.5 billion investment. The 49-year-old began by responding to Bloombergs interview with Binance CEO Changpeng CZ Zhao, in which Musks interest in Dogecoin and Bitcoin was mentioned. Teslas action is not directly reflective of my opinion. Musk wrote in response. Having some Bitcoin, which is simply a less dumb form of liquidity than cash, is adventurous enough for an S&P500 company. The outspoken CEO went on to clarify: To be clear, I am not an investor, I am an engineer. I dont even own any publicly traded stock besides Tesla. To be clear, I am *not* an investor, I am an engineer. I dont even own any publicly traded stock besides Tesla. However, when fiat currency has negative real interest, only a fool wouldnt look elsewhere. Bitcoin is almost as bs as fiat money. The key word is almost. Elon Musk (@elonmusk) February 19, 2021 However, when fiat currency has negative real interest, only a fool wouldnt look elsewhere. Bitcoin is almost as bs as fiat money. The key word is almost' Musks change in tune is a stark contrast to his comments in late January, when he caused the price of Bitcoin to jump from $33,000 to $38,000 simply by changing his Twitter bio to Bitcoin. Its unclear whether regulatory bodies in the US are examining Elon Musks behaviour on Twitter, particularly in light of the Gamestop and Robinhood saga, but the SEC has clamped down on Musk before for his use of Twitter. At the time of writing Bitcoin is trading at $52,915, which is more than 33% higher than when Tesla revealed its investment on February 8. While bull market mania is well and truly underway, warning signs are starting to appear as seasoned investors think back to the devastating cryptocurrency crash in 2018. For more news, guides and cryptocurrency analysis, click here .
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 55137.31, 55973.51, 55950.75, 57750.20, 58917.69, 58918.83, 59095.81, 59384.31, 57603.89, 58758.55
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2022-06-06]
BTC Price: 31370.67, BTC RSI: 51.40
Gold Price: 1839.20, Gold RSI: 43.97
Oil Price: 118.50, Oil RSI: 63.99
[Random Sample of News (last 60 days)]
Brent Crude Oil Price Update Strong Upside Bias with Initial Target $118.95, Followed by $123.25: Brent crude oil futures closed higher on Friday after Bank of America (BofA) Global Research said the global oil benchmark could rise past $150 a barrel if there is a sharp contraction in Russian oil exports. Oil prices spiked higher in March after Russians Ukraine invasion, which Moscow calls a special operation, and are currently sitting within striking distance of the highs reached on March 7 and 8. On Friday, August Brent crude oil settled at $115.56, up $1.39 or +1.20%. The United States Oil Fund ETF (USO) finished at $85.43, up $0.84 or +0.99%. With our $120/bbl Brent target now in sight, we believe that a sharp contraction in Russian oil exports could
push Brent well past $150/bbl, the bank said in a research note. Daily August Brent Crude Oil Daily Swing Chart Technical Analysis The main trend is up according to the daily swing chart. A trade through Fridays high at $115.80 will signal a resumption of the uptrend. A move through the next main top at $118.95 will reaffirm the uptrend. The main trend will change to down if $103.89 fails to hold. The short-term range is $118.95 to $91.98. Its retracement zone at $108.65 to $105.47 is the nearest support. Its also controlling the near-term direction of the market. Short-Term Outlook Trader reaction to $115.80 and $115.56 will likely determine the direction of the August Brent crude oil futures contract early Monday. Bullish Scenario A sustained move over $115.80 will indicate the presence of buyers. If this move creates enough upside momentum then look for a surge into the March 8 main top at $118.95. Taking out this level could extend the rally into the July futures contract high at $123.25. Bearish Scenario A sustained move under $115.56 will signal the presence of sellers. If this move generates enough downside momentum, we could see a near-term correction into $108.65 $105.47. Since the main trend is up, buyers are likely to come in on a test of this area. For a look at all of todays economic events, check out our economic calendar . Story continues This article was originally posted on FX Empire More From FXEMPIRE: Foxtons replaces CEO amid rising pressure from activist investors Sky News EU to pledge support for Ukraine, but not ready with new Russia sanctions Japans SoftBank cuts borrowing from Mizuho, Goldman Sachs Fear & Greed Index Weighs on Bitcoin (BTC) and the Crypto Market Crypto Market Daily Highlights May 29 BTC Extends Losing Streak Australian regulator sues ANZ over alleged overstatement of credit card balances || Bitcoin and ETH Could Resume Decline, NEAR Reaches Key Juncture: Key Insights: Bitcoin struggled to clear $44,000 and declined. Ether (ETH) failed to clear $3,300 and is now showing bearish signs. NEAR rallied over 20%, but it might face hurdles near $20.00. Bitcoin Recently, bitcoin price started a minor upside correction above the $43,200 level. The price was able to move above the $43,600 level and the 21 simple moving average (H1). However, it faced a strong resistance near the $44,000 level. There is also a key bearish trend line forming with resistance near $43,800 on the hourly chart. The price is now trading below $43,500 and the 21 simple moving average (H1). An immediate support is near the $42,750 level. The first key support is near the $42,550 level. If the price fails to stay above $42,550, it could extend decline towards the $41,650 support zone. On the upside, the price must clear $44,000 and the 21 simple moving average (H1) to start a recovery wave. Ethereum (ETH) ETH recovered above the $3,240 and $3,250 resistance levels. However, it faced a strong resistance near the $3,295 and $3,300 levels. There was another decline and the price traded below $3,250 and the 21 simple moving average (H1). It tested a key bullish trend line with support near $3,230 on the hourly chart. If there is a downside break below the trend line and $3,200, the price could resume decline. An immediate support is near the $3,145 level. The next key support is near the $3,100 level, below which there is a risk of a larger decline. NEAR Protocol NEAR remained well supported near the $14.20 level. The price started major increase and there was a clear move above the $15.50 and $17.20 levels. The price even settled well above the $17.20 level and the 21-day simple moving average. It seems like the bulls are now aiming the main resistance on the upside at $20.00. If they manage to push the price above the $20.00 resistance zone, the price could start a major increase. The next major resistance could be near the $21.50 level. If not, the price might correct lower below $18.00. On the downside, there is a crucial support forming near the $15.00 level and a bullish trend line on the daily chart. Story continues ADA, BNB, and DOT price Cardano (ADA) is showing bearish signs below the $1.10 level. If the price breaks the $1.05 support, it could even move below the $1.00 level. Binance Coin (BNB) failed to clear the $440 level and started a fresh decline. It seems like the price might revisit the $420 support. Polkadot (DOT) is down 3% and there was a break below the $20.00 level. The next major support is near $19.50, below which the price might test $18.80. A few trending coins are ZEC , CVX , and ENJ . Out of these, ENJ is gaining pace above the $1.65 resistance level. This article was originally posted on FX Empire More From FXEMPIRE: Gold Prices Rise for the Week, but Face Headwinds with a Rising Dollar Stock Markets Continue to Attempt Recovery FTX Ventures, Tiger Global Lead $350M Funding for NEAR Protocol Natural Gas Markets Continue to Fight Enormous Pressure Gold Markets Rally for the Week Stock Market Continues to Go Back and Forth || The crypto crash rivals both the internet bubble burst and the Great Financial Crisis, Bank of America says: The cryptocurrency market is starting to recover after losing more than $300 billion over the course of just seven days. This crash, the largest in the crypto market since May 2021, along with tech stocks’ recent downturn , is comparable to both the bursting of the dotcom bubble and the Global Financial Crisis (GFC) of 2008, according to a new report by Bank of America Research. The crash in crypto and speculative tech “now rivals” both the dotcom bust and the subprime mortgage crisis, according to BofA’s Flow Show team, led by chief investment strategist Michael Hartnett, noting that the Nasdaq lost 73% peak to trough in the early 2000s, and bank stocks lost 78% during the Great Financial Crisis of 2008 and 2009. The report appears to add together crypto’s market cap losing 45% and Nasdaq’s 29% dip year to date. Chart by Bank of America Global Research showing history of asset bubbles This week, Bitcoin fell below $30,000 before dropping to just under $27,000 on Thursday, while the TerraUSD (UST) stablecoin crashed far below its $1 peg and applied more downward pressure on the overall market. Alongside the cryptocurrency market, tech stocks have also taken a hit. Increasingly moving in tandem, the correlation between Bitcoin, the S&P 500, and the Nasdaq has hit all-time highs in recent months. The 30-day average of the Bitcoin-Nasdaq score has approached an exact one-to-one correlation since Jan. 1, and reached 0.82 this week, the New York Times reported on Wednesday. This connection became especially apparent after the Federal Reserve indicated it would raise interest rates by half a percentage point last week. Afterward, cryptocurrency and stocks began to plummet. On Friday, the largest cryptocurrency by market value has recovered to $30,000, up 7% in the past 24 hours. The overall market has also seemingly calmed, up 11% in the same time frame. But UST remains underwater at 10 cents, and its sister token Luna hit zero (currently $0.00001923, to be exact). Traditional markets are seemingly stabilizing too. The Dow Jones industrial average rose 490 points, or 1.55%, on Friday. The S&P 500 increased 2.2%, and the Nasdaq composite increased 3.3%. But folks are scarred from the crash. The cryptocurrency Fear and Greed Index shows sentiment is still “extreme fear.” This story was originally featured on Fortune.com || First Mover Americas: Bitcoin's Exchange Balance Hits 3.5-Year Low: Don't miss CoinDesk'sConsensus 2022, the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12.
Good morning, and welcome to First Mover,our daily newsletter putting the latest moves in crypto markets in context.Sign up hereto get it in your inbox each weekday morning.
Here’s what’s happening this morning:
• Market Moves:Bitcoin dips below $39,000 as bearish macroeconomic factors continue to overshadow bullish blockchain metrics.
• Featured Story: Is bitcoin an aspirational store of value?
And check out theCoinDesk TVshow “First Mover,” hosted by Christine Lee, Emily Parker and Lawrence Lewitinn at 9 a.m. U.S. Eastern time.
• Morgen Rochard, managing member, Origin Wealth Advisers
• Austin Reid, chief of staff, FalconX
• Jake Rapaport, head of digital asset index research, Nasdaq
By Omkar Godbole
With each passing week, bitcoin's blockchain metrics diverge from bearishmacroeconomic factors, offering hope to long-term holders.
The number ofcoins held on exchangesdeclined by more than 20,000 BTC to 2,449,785 BTC last week, hitting the lowest since August 2018, data provided by blockchain analytics firm Glassnode shows. The tally has decreased by 138,266, or 5%, this year, indicating HODLing – a crypto slang for buy and hold – remains a preferred strategy in the market.
Investors typically take direct custody of coins when intending to hold them for a long term. A continued decline in BTC available on exchanges meansfewer coinsavailable for sale and the potential for an extended rally.
"Underneath the surface, there is a heavy phase of accumulation on-chain," Blockware Solutions' market intelligence newsletter published on Friday said. "Exchange outflows have reached a rate that has only ever occurred three times before in bitcoin's history: following March 2020, December 2020 (a lot of which was likely GBTC) and September 2021."
Other metrics also paint abullish picture. For instance, the percentage of bitcoin inactive for at least a year recently reached a record high of 63.7%. At the same time, whales (large investors) accumulated 1,000 BTC last week, registering the first weekly uptick since January, according to Blockware Solutions.
Even so, bitcoin fell to a one-month low of $38,577 during Asian trading hours, taking the year-to-date decline to over 15%. The selling pressure likely stemmed from tax issues and macro traders liquidating holdings, tracking a continuedmelt-upin government bond yields and likely tightening by the Federal Reserve.
Clearly, macro factors are in the driver's seat. "For now, we'll continue to listen to every sound bite from Fed officials as they look to combat inflation via scare tactics," Jeff Dorman, chief investment officer at Arca, a crypto investment firm,noted last week. "But one year from now, it's doubtful that the high correlation between rates, equities and digital assets will be anything besides another footnoted relationship that didn't hold."
Bitcoin's three-day chart, where each candle represents price action for three days, shows the cryptocurrency is flirting with the 200-period simple moving average (SMA). That's a critical level to watch out for, given that bears have repeatedly failed to establish a foothold under the technical line since late January.
Should they succeed this time, more chart-driven selling may be seen. A breakdown would expose support at $30,000. The current three-day candle is set to close at 23:59 UTC on Monday.
• Canada’s WonderFi Bulks Up Further With Planned $31M Acquisition of Coinberry Crypto Exchange
• Bitcoin Slips Below Support Level to $38.5K as US Tax Return Deadline Approaches
• Attacker Drains $182M From Beanstalk Stablecoin Protocol
• Is Bitcoin a Risk-On or a Risk-Off Asset? Maybe It’s Neither
• Why Crypto Isn’t Just the Great Financial Crisis, Part 2
• Web 3 Gobsmacked as Meta Announces 47.5% Creator Fees
• Sanctioned Crypto Wallet Linked to North Korean Hackers Keeps On Laundering
By George Kaloudis
In times of high inflation and economic uncertainty, investors go risk-off, and there’s a “flight to quality.” In practice, when sentiment flips risk-off, investors sell their risky tech stocks and buy something like bonds, or if they really fear inflation, something sound like gold.
And you know what’s better than gold? Gold 2.0 of course. Bitcoin (or theReserve Asset 3.0). We have high inflation, and so everyone piled into bitcoin and its price shot up, right? Not quite…
What gives? This is sound money, right? This is a store of value with a known current supply and emissions schedule, right? Isn’t bitcoin provably scarce? I thought the emissions schedule of bitcoin didn’t change as demand for the asset increased?
That’s all true: Bitcoin has a known monetary policy with a hard cap and apredetermined minting schedule; anyone with afull node(a basic computer with some software) can tell you how many bitcoins are in circulation and if the price of bitcoin went to $1 million tomorrow, the coins wouldn’t be mined any faster than they are today.
But there’s one thing missing. Narrative.
On a 60-day lookback, bitcoin’s price has been somewhat correlated (> 0.20 correlation coefficient) with the technology stocks in the Nasdaq for about 50% of trading days in 2022.
I think the reason for that is quite simple. While bitcoin’s hard money properties make it a risk-off asset for its supporters, investors see a risk-on asset because of its volatility and technology-like asymmetric price upside. When investors want to cut risk, they sell stocks alongside bitcoin. So bitcoin isn’t a risk-off or risk-on asset yet. Instead, I think it’s better to call it “risk everything.”
As such, it is probably more accurate to refer to bitcoin as anaspirational store of value.
Read The Full Story Here:Is Bitcoin a Risk-On or a Risk-Off Asset? Maybe It’s Neither
Today’s newsletter was edited by Omkar Godbole and produced by Parikshit Mishra and Stephen Alpher. || Bitcoin Dips Below $38K, Support at $30K-$32K: Don't miss CoinDesk'sConsensus 2022, the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12.
Bitcoin (BTC) dropped by 5% over the past 24 hours, reversing Wednesday's relief rally. The cryptocurrency may break below a series of higher price lows that has formed a trend since Jan. 24, which could yield further downside toward the $30,000-$32,000supportzone.
Still, a daily close above $37,500 could signal short-term stabilization. For now, upside appears to be limited despite intraday price swings, evidenced by slowing momentum on the daily, weekly and monthly charts.
BTC was recently trading at $36,800 and is down 6% over the past week.
The slope of the 100-day moving average has flattened over the past few months, which indicates weakness in the relief phase since the Jan. 24 price low near $32,900. Immediateresistanceis seen at $40,000, which could limit buying activity over the short term.
Additionally, selling volume isn't as extreme compared with previous down moves in price. That suggests further downside is likely before sellerscapitulate.
The 20-day moving average of BTC's trading volume based on Coinbase exchange data provided by TradingView declined from February to April, reflecting weak buying pressure within the $35,000-$46,000 price range.
The uptick in volume since late April, although negligible, should be monitored for signs of heightened selling pressure, which could signal a brief price low of around $30,000. || First Mover Americas: BTC Starts June Trading Flat, Alts Decline: Don't miss CoinDesk'sConsensus 2022, the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12.
Good morning, and welcome to First Mover.I’m Lyllah Ledesma, here to take you through the latest in crypto markets, news and insights.
• Price point:Bitcoin trades flat and altcoins underperform.
• Market Moves:BTC futures now account for 63% of the open interest in the crypto futures market.
Bitcoin (BTC) opened its first day of trading in June at around $31,800. The world’s largest cryptocurrency by market capitalization is trading relatively flat and hasn't seen much price movement overnight.
Bitcoin has fallen 15% from this time a year ago, when it was trading at around $37,000.
Etheris trading at $1,900 at the time of writing and is down 26% from this time a year ago.
According to Charles Storry, head of growth at Phuture, a crypto index platform, the sell-off is just beginning.
“We are entering a 12-18 month bear market. I am bullish long term as this is short term fear and panic selling,” Storry said.
Altcoins saw weakness over the last 24 hours after some of the coins rallied on Tuesday. Cardano (ADA) has dropped 7%, Avalanche (AVAX) fell 5.7%, and Solana’sSOLdeclined 5%.
Tron’s TRX was the only gainer, climbing by 10% over the last 24 hours.
Optimism (OP), the token that powers the layer 2 Ethereum scaling tool Optimism, has dropped 65% from its listing price after its much anticipatedairdrop.
Bitcoin Dominance in Derivatives
Open interest in bitcoin futures and perpetuals now account for 63% of the open interest in the crypto futures market. In early April, open interest was around 50%, according to data from Arcane Research. This has come as the global interest in the crypto market has seen a sharp decline.
BTC futures accounting for 63% of the crypto market are at their highest level since October 2021.
Bitcoin’s dominance in the derivatives market mirrors the cryptocurrency’s dominance in the wider market, which trended higher in May.
Joshua Lim, head of derivatives at Genesis Global Trading, said that this data suggests the speculative interest in altcoins is diminishing.
“Alts have had a rough run and a lot of liquidations and de-risking has taken speculators out of the market,” Lim said.
• Binance Labs Raises $500M Fund for Web 3, Blockchain InvestmentsThe new fund will invest in cryptocurrency companies in three stages spanning from incubation to late-stage growth.
• Crypto Exchanges Should Lose Licenses for Laundering Breaches, EU Regulators SayThe advice comes as legislators reach the closing stages of the landmark crypto MiCA law.
• Tech Experts 'Counter-Lobby' Washington Criticizing Crypto, Blockchain: ReportA letter from 26 technologists refers to crypto as risky, flawed and unproven.
• Polygon Increases KYC Scrutiny of Potential Investments and Grants in IndiaPolygon is now requiring extensive customer details for prospective partners in India as regulatory scrutiny there grows, according to a source.
Today’s newsletter was edited by Lyllah Ledesma and produced by Parikshit Mishra and Stephen Alpher. || Crypto Enthusiast Sentenced to 5 Years for North Korea Trip: Lulu Lorien/Wikimedia Commons Virgil Griffith, a computer programmer known for his contributions to Wikipedia and the digital currency Ethereum, was sentenced to 63 months in prison on Tuesday for speaking at a cryptocurrency conference in North Korea. To him, the trip in April 2019 was squarely within his rights as a technologist spreading the crypto gospel and getting others to join in on mining and trading computerized money. But the feds saw it as an American teaching the militant thugs in dictator Kim Jong-un’s hellish Democratic People's Republic of Korea how to dodge economic sanctions and stash cash to build nuclear missiles that threaten the world. ‘We’re a Cult’: Inside Bitcoin’s Shameless Hypefest At a federal court in New York City, U.S. District Judge P. Kevin Castel handed down the stiff five-year sentence—as well as a $100,000 fine—marking an end to an FBI investigation that, at times, seemed like a heavy-handed crackdown. But to North Korea watchers aware of the lengths Kim Jong-un’s henchmen will go to to learn about cryptocurrency and blockchain in order to skirt sanctions and boost the country’s nuclear weapons program, the spread of knowledge on cryptocurrency seems dangerous. “North Korea’s obsession and dependency on cryptocurrency has no bounds, and they’ll be quick to take advantage of a misjudgement made by otherwise smart and capable individuals,” Vikram Thakur, a technical director at Symantec who has been tracking financially motivated North Korean hacking for years, told The Daily Beast. Under the bite of harsh international sanctions, North Korea has been hacking cryptocurrency-related entities for years to generate revenue for the regime. From 2019 to 2020 alone, Kim’s hackers stole $316.4 million worth of virtual assets to fund North Korea’s weapons of mass destruction and ballistic missile programs, according to a United Nations investigation. The technologist initially asserted his innocence, but he decided to plead guilty on the eve of his criminal trial last fall. During sentencing on Tuesday, Griffith, now 39, said he “genuinely, arrogantly, and erroneously” thought he knew better. Story continues “Everyone warned me. This was a terrible idea,” Griffith said, citing his own “fixation” with North Korea. Kimberly Jane Ravener, a federal prosecutor with the Southern District of New York, said his actions “struck at the heart of the United States’ sanctions regime,” and they pointed out several text messages where Griffith made clear his intention was to teach North Korea how to dodge restrictions. The Mysterious ‘Crypto King’ Who Stole $215M in Bitcoin and Wound Up Dead The judge appeared particularly incensed by a photo of Griffith wearing a dark olive green, North Korean military tunic next to a white board where he had drawn a happy face and the words “no sanctions” and “yay.” Judge Castel said there is “a narrative that Virgil Griffith is a kind and gentle man who merely wanted to speak at a conference… and was persecuted for his actions.” “Those are not the facts,” Castel said. “That’s not what happened. Virgil Griffith hoped to come home… a crypto hero.” According to investigators, Griffith wanted to travel to the Pyongyang Blockchain and Cryptocurrency Conference in the spring of 2019 but was told not to by the U.S. State Department. Instead of staying put, Griffith traveled to China and made his way into the neighboring authoritarian country anyway. While there, he “participated in discussions regarding using cryptocurrency technologies to evade sanctions and launder money.” Special agents at the FBI saw that as a clear violation of the International Emergency Economic Powers Act. According to his lawyers, after his North Korean speaking engagement, Griffith actually went straight to the U.S. embassy in Singapore, where he was residing at the time, to tell them all about the experience. He also chose to meet with the FBI in Puerto Rico and San Francisco. But after extensive talks, the feds instead surprised the technologist by arresting him at Los Angeles International Airport on Thanksgiving Day 2019, while Griffith was boarding a flight to Baltimore to spend the holiday with his parents and sister. He was indicted months later on a single count of violating presidential executive orders aimed at blocking North Korea from the international banking system as punishment for its repeated threats to nuke the United States. The arrest immediately generated criticism, as the exceedingly eccentric and devoted community of cryptocurrency enthusiasts cast the prosecution as a crackdown on free speech. Meanwhile, the federal government played right into that by shrouding the case in secrecy. So many court files were kept sealed that journalist Matthew Russell Lee , who runs the publication Inner City Press , asked the judge to reconsider in a letter that noted, “The sealings and withholding here are unacceptable, and go beyond those requested even in the Central Intelligence Agency trial” of accused Wikileaks leaker Joshua Adam Schulte. As the case proceeded, Griffith’s attorneys maintained that his travel was “a goodwill speaking trip.” During his chats with FBI agents, Griffith came clean and offered to help the feds explore his North Korean contacts and activities, according to a source close to Griffith. This source described at length Griffith’s willingness to cooperate with the American intelligence agencies and the potential to become something of a spy asset. Those hopes were dashed when the Justice Department came down hard on him. On Tuesday, Griffith’s defense lawyers pleaded with the judge to essentially free him now, given his already harsh experience in New York City’s federal jails, where conditions have been so horrendous that a top DOJ official ordered the Manhattan facility closed and a Brooklyn facility has been mired in human rights lawsuits. Defense attorney Brian Klein said Griffith was forced to use his Brooklyn Metropolitan Detention Center jail cell’s sink as a toilet during the recent Christmas season, came down with COVID-19 for three weeks, and was never allowed to see his family. "The 10 months Mr. Griffith has spent… should count for 20 months," Klein said. His defense team also noted that in similar cases where people visited sanctioned countries to speak at business and academic conferences, Americans typically got off with a cautionary letter from the Treasury Department’s Office of Foreign Assets Control. But federal prosecutors countered that Griffith did more than appear as a guest for a single event, citing his months-long conversations with co-conspirators where he detailed his willingness to help the brutal North Korean regime. In one text message, Griffith explained the value of setting up a computer “node” in North Korea that would allow the country to take part in the computer network that processes transactions of the digital currency Ethereum. “It’ll make it possible to avoid sanctions on money transfers,” he wrote in another text. “You have to look at the text messages,” the judge told those in the courtroom. “He has to do a lot of work on himself.” North Korea, the most sanctioned country on the planet, has increasingly turned to cryptocurrency cyber crime in order to raise funds and sidestep the formal financial system from which it remains exiled. In 2021, it stole an astounding $395 million worth of cryptocurrencies —or about 2.4 percent of its annual gross domestic product that year—according to an analysis provided by the blockchain monitoring firm, Chainalysis. Cybersecurity firms believe that North Korea created a dedicated cryptocurrency theft campaign from “Lazarus Group,” a group of hackers linked to Pyongyang’s intelligence services. The crypto thieves, dubbed “Cryptocore,” has spent the past few years targeting cryptocurrency exchanges in Europe, the U.S., Israel, and Asia, and pilfered “millions of dollars’ worth of cryptocurrency wallets,” according to a report by the cybersecurity firm ClearSky. Read more at The Daily Beast. Get the Daily Beast's biggest scoops and scandals delivered right to your inbox. Sign up now. Stay informed and gain unlimited access to the Daily Beast's unmatched reporting. Subscribe now. || The LUNA and UST Crash Explained in 5 Charts: Don't miss CoinDesk's Consensus 2022 , the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12. The Terra money machine collapsed almost entirely Wednesdayday. The UST stablecoin remains deep in the sub-dollar doldrums for the third day running, and LUNA , its sister token, has fallen almost 97% off its 2022 high. The near-complete failure of a darling of decentralized finance (DeFi) stands as an important lesson in the systemic risks of algorithmic stablecoins – crypto’s elusive Holy Grail. Read more: What's the Point of Stablecoins? Understanding Why They Exist (CoinDesk Research, Anchor Protocol Dashboard) Understanding why UST collapsed this past week means understanding its Achilles heel – the Anchor lending protocol. One of the earliest signs that things were going wrong for the stablecoin came when UST deposits on Anchor started dropping Saturday. Anchor offers market leading yields of up to 20% on the year to users who deposit their UST on the platform. Before UST started its decline late on Saturday, Anchor was home to 75% of UST's entire circulating supply. That’s $14 billion of UST out of a total circulating supply of $18 billion. With so much UST locked up in Anchor, it became clear that most investors were buying the stablecoin with the sole intent of reaping those sweet, sweet Anchor yields. Depending on whom you ask, Anchor’s relationship with UST was either an ingenious mechanism to manufacture utility for the fledgling stablecoin, or wasteful marketing spend attracting unloyal mercenary capital. Read more: Investors Flee Terra’s Anchor as UST Stablecoin Repeatedly Loses $1 Peg Critics said Anchor’s high yields were unsustainable – artificially propped up by Terra builders Terraform Labs (TFL) and its big money backers. A yield decrease, they say, would’ve sent UST depositors fleeing Anchor (and UST) in search of higher returns. The system looked similar to that of a young Uber, where venture capitalists subsidized peoples’ ride fees in a long-term bid to achieve market dominance. Instead of cheaper cab fares, inflated Anchor yields were used to pull people into the UST ecosystem – hopefully permanently. The problem, according to critics, was that TFL and its partners could only afford to subsidize investors for so long. At some point, the money would dry up, and so would Anchor’s customers (and UST’s willing holders). Though Anchor was never forced to decrease its yield rates too significantly, UST deposits dropped sharply through the start of this week, from $14 billion to as low as $3 billion. So much money draining from UST’s primary hub signaled a massive loss in confidence in the entire Terra protocol. With few other use cases for UST beyond Anchor, most withdrawals from the platform probably ended up on the open market. Story continues (CoinDesk Research, TradingView) As one might expect, the massive drain from Anchor onto the open market contributed major selling pressure to the Terra ecosystem. UST, a so-called algorithmic stablecoin, works with its sister token, LUNA, to maintain a price around $1 using a set of on-chain mint-and-burn mechanics. In theory, these mechanics are supposed to ensure $1 worth of UST can be used to mint $1 of LUNA – which serves as a sort of floating price shock absorber for UST volatility. The massive selling pressure led to sharp drops in the prices of both LUNA and of UST. Eventually, the market cap of LUNA flipped that of UST for the first time. When there was no longer $1 worth of LUNA for every $1 of UST, some watchful traders feared the entire system might become insolvent (because UST holders would have no clear way to “cash out” into LUNA in the event of a full-scale bank run). Whether this fear was fair or not (we’ll talk in the next section about LUNA’s bitcoin backstop), it’s hard to imagine that the psychological impact of nose-diving prices and a UST-LUNA market cap “flippening” didn’t cause even further sell action. (CoinDesk Research, Luna Foundation Guard, Blockchair) In order to shore up UST’s price, the Luna Foundation Guard (LFG), Terra’s official peg defenders, deployed over $2 billion in its newly formed bitcoin ( BTC ) reserves. Do Kwon started sweeping BTC off the market in recent months in an attempt to backstop UST, should its peg ever need defending. In its first (and perhaps final) test of this mechanism, LFG “loaned” billions of dollars worth of reserve assets to professional market makers, draining LFG’s blockchain wallets almost entirely in the process. Now, as LFG struggles to top up its empty reserves with new investors, market makers are on a quest to actively defend UST’s peg by deploying rescue capital on exchanges and liquidity pools. (CoinDesk Research, TradingView) While the rescue capital from Terra’s reserves had modest success bumping up the prices of UST and LUNA on Tuesday, the prices of both were extremely volatile leading into the early morning hours of Wednesday. It was at this point that all bets seemed to be off for a smooth UST recovery. Even as Do Kwon announced on Twitter a UST rescue plan was in the works, market confidence in the project appeared to fall to all-time lows. At one point, LUNA – priced at over $120 earlier this year – fell below $1. UST fell below 30 cents for a brief time, leading to questions around whether the “stable” coin will ever be able regain its stability. Read more: UST’s Do Kwon Was Behind Earlier Failed Stablecoin, Ex-Terra Colleagues Say (CoinDesk Research, Glassnode) Much of the hundreds of millions of dollars in bitcoin used to rescue UST were likely sold straight to market early this week. Cash-outs to non-BTC currencies would have been necessary for traders hoping to defend UST’s peg. Charts of BTC net transfer volumes tell this story, showing massive volume spikes on May 9-10 as Terra’s reserves were first deployed. While Terra doesn’t account for the entirety of these spikes, billions of dollars in freed-up Terra reserves would certainly have made an impact. Terra’s BTC reserve dumps probably added sell-pressure to an already tumultuous market. The impact of UST on the wider market is an important footnote amid all of this week's chaos. It stands as a reminder of why stablecoins – which form the foundation of decentralized finance – not only pose a risk to individual traders, but pose a systemic risk for the entire crypto ecosystem if not managed responsibly. Don’t be surprised when the regulators come knocking. View comments || Ledn Taps Hoseki for Bitcoin Proof-of-Asset Service Ahead of Mortgage Launch: Don't miss CoinDesk's Consensus 2022 , the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12. Hoseki, an app used to attest to a user’s digital asset holdings without storing the assets itself as a custodian, has formed a partnership with Ledn, the Canada-based crypto lending platform that's testing a bitcoin-backed mortgage product. After emerging from stealth mode at this year’s Bitcoin Miami conference, Hoseki is working with Ledn, which raised $70 million late last year , to provide bitcoin holders with "proof-of-assets" services. The approach is similar to industry-grade proof-of-reserves for custodians, something seen as a vehicle for establishing trust in a market that has often lacked it . Hoseki is seeking to build a framework that allows people to express ownership in bitcoin, said the startup’s CEO, Sam Abbassi. He compared owning digital assets to owning property on the American frontier in the Old West. “If I have my bitcoin on a Trezor (a digital wallet), there isn’t really an easy way for me to express ownership of that to a counterparty, if I’m trying to get a mortgage, for example,” Abbassi said in an interview, adding: “I can maybe take a screenshot, but it’s very imperfect. I can also move it to an exchange, potentially, and export a statement. But those statements aren’t standardized; they’re missing some of the information that underwriters, brokers and lenders want.” It could be said Hoseki is providing a layer of institutional-grade tooling for personal wallets. Bitcoin natively enforces its own property rights, as Abbassi points out, and so the idea is to place a simple wrapper around that, rather than creating complex abstractions, he said. Ledn is at the test stage with its bitcoin mortgage product ( a similar service was recently announced by Figure ), which Abbassi sees as “low-hanging fruit.” He said the Hoseki alpha product will be out at the end of May or early June and a number of partnerships with bitcoin companies are lined up. “The mortgage use case is our go-to market,” Abbassi said. “It’s a very real problem that people have today, and something that I went through personally, and a lot of my friends have gone through. So we thought that was the most palpable thing to launch with.” || What Are the Top 7 Penny Stocks? And Should You Buy?: Penny stocks offer potentially significant upside over short investment horizons for investors who can stomach the volatility. BGC Partners ( BGCP ): Converting legacy brokerage revenues into high-tech, high margin sales with better earnings and cash flow generation potential. UWM Holdings ( UWMC ): An 11% dividend yield makes this mortgage lender an attractive penny stock to buy now. ObsEva ( OBSV ): A clinical-stage pharma drug developer that’s hitting all the good milestones with strong revenue growth potential in 2023. Safe Bulkers ( SB ): This maritime shipping company is growing its fleet, significantly reduced its debt in 2021 and pays a dividend. Telefonica ( TEF ): A deep-value telecom stock with decent upside and a 6.8% dividend yield. B2Gold ( BTG ): An underappreciated dividend stock with strong upside and defensive attributes. Carrefour ( CRRFY ): A defensive penny stock with growing retail revenue, earnings, and increasing dividends. Stacks of pennies representing penny stocks. Source: John Brueske / Shutterstock.com Despite their notorious volatility and higher-than-average investment risk, penny stocks can energize a portfolio’s returns profile for investors seeking aggressive growth opportunities. Investors looking for some interesting low-priced stocks to buy may wish to check out some penny stocks to buy for the remainder of 2022. Returns on these investments can be phenomenal, quick and yet very risky. Due to their very low prices, a very small increase in the price of a penny stock can result in substantial capital gains. Imagine a $1 increase on a share you just acquired for $1 – that would be a straight 100% gain, and it might happen in a matter of days. The U.S. Securities and Exchange Commission’s (SEC) definition of a penny stock includes a small company that trades below $5 a share. At times, the SEC also refers to microcap stocks as penny stocks. These are listed companies with small market capitalizations of less than $250 million or $300 million. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Story continues Penny stocks are not for the faint of heart, as the associated companies carry a lot of risk. That said, they can generate robust growth and quick returns that can be potentially life-changing. However, rather than concentrating on the price of a stock, investors may be better off assessing the underlying business for its wealth-generating potential and future capacity to generate positive cash flows. 7 Great Growth Stocks to Buy in May With that in mind, below is a curated list of the top seven penny stocks I’d buy today. BGCP BGC Partners $3.17 UWMC UWM Holdings $3.67 OBSV ObsEva $1.41 SB Safe Bulkers $4.17 TEF Telefonica $4.85 BTG B2Gold $4.11 CRRFY Carrefour $4.32 BGC Partners (BGCP) BGCP stock: the BGC Partners logo on a website as viewed through a magnifying glass Source: Casimiro PT / Shutterstock.com BGC Partners (NASDAQ: BGCP ) is a long-established brokerage firm that is transforming into a high-tech company with fewer human traders. It’s also expanding its offerings to include cryptocurrency services, and the results are a high margin business with stable cash flow. The brokerage firm services market provides for the needs of the world’s largest banks, trading firms, hedge funds, governments and investment firms. These have a more rigid and loyal institutional customer base that industry disruptors like Robinhood (NASDAQ: HOOD ) may struggle to penetrate, snatch and retain. In a recent earnings release , BGC’s Fenics revenue hit a record $125.3 million during the first quarter of 2022 to comprise 25% of total sales. That’s a 16% year-over-year (YOY) increase. Advanced technology-based offerings will lift profit margins as they replace some “costly” human traders. BGCP stock is a screaming buy in its current trading range of $3.20 to $3.60 per share. The dividend-paying stock’s forward price-to-earnings (P/E) multiple of 5.4x puts it in a deep value basket while a price-to-free-cash-flow (P/FCF) multiple of 5.3x compares too well against an industry average multiple of 10.7x. Most noteworthy, BGCP stock’s forward-looking PEG multiple of 0.3x implies its future earnings growth isn’t properly accounted for in the current valuation. UWM Holdings ( UWMC) Toy houses rest atop stacks of coins while a hand dangles a set of keys in the air. Source: Shutterstock Leading U.S. mortgage originator UWM Holdings (NYSE: UWMC ), the parent company of United Wholesale Mortgage (UWM), has seen its common stock print new 52-week lows lately as investors shun related stocks. You may wish to pounce on this rare opportunity to scoop UWMC stock at its cheap valuation. Shares trade at a forward price-to-sales (P/S) multiple of 0.16x today. An equity stake in the top mortgage lender in America may never be this cheap again. UWMC stock is down 38% year-to-date (YTD), and the company’s historical 5 cents per share dividend now yields an incredible 11% annually. Given a projected decline in business volumes as mortgage rates rise and inflation bites disposable incomes, perhaps the dividend could be at risk. However, UWMC was repurchasing shares during the past year, and the company paid out 20% of earnings for 2021. 4 Blue-Chip Stocks to Buy for May 2022 There’s significant room for management to maintain the high-yielding distribution through a turbulent 2022. Patient investors in this top penny stock will get paid while they wait for a recovery in U.S. mortgage volumes as the economy stabilizes. ObsEva ( OBSV) a scientist with protective equipment and microscope in a lab Source: luchschenF / Shutterstock.com ObsEva (NASDAQ: OBSV ) is a Geneva-based clinical-stage biopharmaceutical company. It is developing therapies targeting serious conditions compromising women’s reproductive health, including Linzagolix , a drug for treating uterine fibroids. The company announced a licensing agreement with Theramex for the commercialization of its breakthrough Linzagolix therapy in February. The licensing deal could pay around 35% in royalties. OBSV stock rallied 20% during the past week. The company announced positive efficacy results for Linzagolix in a Phase 3 trial. Further data during the next quarter could unleash bullish investor spirits. More capital gains could accrue as the company enters a new revenue growth phase that could result in positive cash flow generation within the next few years. Wall Street analysts project a strong 384% growth in OBSV’s revenue to $35 million in 2023. This signifies the start of a strong sales growth curve over the next decade as the company matures into a globally respected pharmaceutical name. Safe Bulkers (SB) Plenty of shipping containers stacked at the Port of Hamburg and blue sky Source: Hieronymus Ukkel / Shutterstock.com Safe Bulkers (NYSE: SB ) is a small international bulk shipping company that provides marine dry bulk transportation services for grains, coal and iron ore. The recent surge in rates during an ongoing shipping crisis pushed the company to record revenue, earnings and free cash flow in 2021, and even better times could roll in 2022. The company recently acquired a new giant Capesize class dry bulk ship for $30 million out of its own liquidity resources. Nine more vessel orders are scheduled to be delivered within the coming two years. Even if shipping rates were to soften in the near future, Safe Bulkers’ growing shipping capacity should drive organic revenue growth and strengthen free cash flow generation going forward. Safe Bulkers stock is profitable, generates positive cash flow and reduced its debt by 42% in 2021. Shares trade cheaply at a P/E multiple of 3x as of May 11. Most notably, SB stock pays dividends. 7 Defensive Dividend Healthcare Stocks to Buy Now SB stock has generated8.7% in gains so far this year. Meanwhile, the S&P 500 has lost 16.4% year-to-date. Telefonica (TEF) A digital illustration of the telecom industry. Source: Shutterstock Telefonica (NYSE: TEF ) is Europe’s third-largest telecommunications company based in Spain. It operates mobile and fixed networks in several countries, including Spain, Germany, the U.K. and Brazil. Investors seeking exposure to value-priced penny stocks with decent operating histories and hefty dividend payouts can’t miss TEF stock. The company’s innovation arm WayraX is making multiple investments in new growth opportunities, including a pipeline of Israel-based moonshots. Its old telecom business is increasingly being diversified while cash flow generation remains strong in legacy business lines. TEF stock is a buy today because it looks significantly underpriced relative to industry peers. Its forward P/E ratio of 15.6x compares very well to the industry average. Meanwhile, its P/S multiple of 0.7x is half its industry’s average of 1.4. Further, TEF’s PEG ratio, which adjusts the forward P/E to the company’s earnings growth rate, is a low 0.1 (which is far below a fair reading of 1.) It also pays a 17 cents per share semi-annual dividend that yields 6.2% annually. B2Gold (BTG) b2gold (BTG) logo on a web browser enlarged by a magnifying glass Source: Pavel Kapysh / Shutterstock.com B2Gold (NYSEAMERICAN: BTG ) is a gold miner with low-cost open-pit operations in Mali, Namibia and the Philippines. It also has new development projects in Colombia and the Anaconda area in Mali. Mining operations have remained highly profitable, even during the inflationary periods reported lately. The company’s first-quarter 2022 production of 209,365 ounces exceeded internal targets. Management guides for 950,000 to 1 million ounces in full-year 2022 at a cash operating cost of $620 to $660 per ounce. Huge profits will be made again this year, as gold trades above $1,800 on the spot market. 7 Dividend-Paying Large-Cap Stocks to Buy in May BTG stock retains a “strong buy” rating from Wall Street analysts for tangible reasons. The company is profitable and remains cash flow positive, plus new development projects will result in increased productivity and cash flow growth. Analysts project a five-year earnings growth rate of 20% on the miner’s shares. Shares pay a regular quarterly dividend that yields nearly 4% annually. Carrefour (CRRFY) A grocery store containing various drinks. Source: Abdul Razak Latif / Shutterstock.com Carrefour (OTCMKTS: CRRFY ) is a profitable grocery store with a growing consumer defensive business. It should offer better downside protection to an investment portfolio as inflation and rising interest rattle consumer spending habits. The company operates in 30 countries globally, and its recent adoption of smaller-store formats reduces exposure to the non-food shopping categories. Profitability, value and defensiveness combine to make CRRFY stock a top penny stock to buy right now. The company runs a growing and profit-generating business. Earnings per share could surge considerably over the next two years as revenue grows with inflation and improving operating efficiencies. Carrefour also pays a quarterly dividend that yields 2.7%. Analysts expect a 29% dividend increase for 2023. This top penny stock has generated 19% in gains for investors so far this year, yet shares remain cheap. Its forward P/E ratio of 11.8x is far below an industry average of 22.7x, while Carrefour’s enterprise value to free cash flow (EV/FCF) multiple of 13.2x is lower than an industry average of 16.2x. On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com ’s writers disclose this fact and warn readers of the risks. Read More: Penny Stocks — How to Profit Without Getting Scammed On the date of publication, Brian Paradza did not hold (either directly or indirectly) any positions in any 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 What Are the Top 7 Penny Stocks? And Should You Buy? appeared first on InvestorPlace .
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 31155.48, 30214.36, 30112.00, 29083.80, 28360.81, 26762.65, 22487.39, 22206.79, 22572.84, 20381.65
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2022-09-02]
BTC Price: 19969.77, BTC RSI: 36.36
Gold Price: 1709.80, Gold RSI: 37.27
Oil Price: 86.87, Oil RSI: 40.00
[Random Sample of News (last 60 days)]
The US Midterms Are Happening Now. Here Are the Key Primaries to Watch: (Bloomberg) -- Here are the key dates ahead in the 2022 midterm elections, as Democrats try to hold onto and even expand razor-thin majorities in the US House and Senate and Republicans weigh the influence of former President Donald Trump. Most Read from Bloomberg Saudi Billionaire Made $500 Million Russia Bet at War Onset ‘Next Generation’ Moderna Coronavirus Booster Jab Approved for Use in Adults Wells Fargo Plans Major Retreat From Mortgage Business It Long Dominated DOJ Opposes Release of Affidavit in Trump Search, Citing Probe Singapore’s Next Premier Wong Warns US, China May ‘Sleepwalk Into Conflict’ Aug. 16 — Wyoming, Alaska Wyoming — The only House race in the sparsely populated state is also one of the nation’s most closely watched as Republican Representative Liz Cheney fends off Trump-backed backlash for her work on the committee investigating Trump’s role in the Jan. 6 Capitol insurrection. Most Read from Bloomberg Saudi Billionaire Made $500 Million Russia Bet at War Onset ‘Next Generation’ Moderna Coronavirus Booster Jab Approved for Use in Adults Wells Fargo Plans Major Retreat From Mortgage Business It Long Dominated DOJ Opposes Release of Affidavit in Trump Search, Citing Probe Singapore’s Next Premier Wong Warns US, China May ‘Sleepwalk Into Conflict’ Alaska — The single House race in Alaska, to replace the late Don Young, features a possible comeback for 2008 vice presidential nominee and former Alaska Governor Sarah Palin, who is hoping the political brand she pioneered will return her to office. Republican Senator Lisa Murkowski is facing an intraparty challenge by Kelly Tshibaka, who was endorsed by Trump because of Murkowski's vote to convict him in his second impeachment trial. They are both likely to face off again in November after the nonpartisan primary, where the top four finishers of any party advance to the general election. Aug. 23 — Florida, New York Florida — Republican incumbent Senator Marco Rubio will likely face Representative Val Demings in a hotly contested election in November. The governorship is also on the ballot but incumbent Republican Ron DeSantis is not facing serious primary opposition. Democrats will choose between Representative Charlie Crist, who is favored, and state Agriculture Commissioner Nikki Fried. Most Read from Bloomberg Saudi Billionaire Made $500 Million Russia Bet at War Onset ‘Next Generation’ Moderna Coronavirus Booster Jab Approved for Use in Adults Wells Fargo Plans Major Retreat From Mortgage Business It Long Dominated DOJ Opposes Release of Affidavit in Trump Search, Citing Probe Singapore’s Next Premier Wong Warns US, China May ‘Sleepwalk Into Conflict’ New York — Two long-serving Democratic representatives are facing off in Manhattan’s redrawn 12th District: Jerry Nadler and Carolyn Maloney. Most Read from Bloomberg Saudi Billionaire Made $500 Million Russia Bet at War Onset ‘Next Generation’ Moderna Coronavirus Booster Jab Approved for Use in Adults Wells Fargo Plans Major Retreat From Mortgage Business It Long Dominated DOJ Opposes Release of Affidavit in Trump Search, Citing Probe Singapore’s Next Premier Wong Warns US, China May ‘Sleepwalk Into Conflict’ Story continues Sept. 6 — Massachusetts Massachusetts Attorney General Maura Healey is the presumptive Democratic nominee for governor and is favored to succeed retiring Republican Governor Charlie Baker. Sept. 13 — Delaware, New Hampshire, Rhode Island Delaware — Delaware only has one congressional district, and incumbent Democratic Representative Lisa Blunt Rochester is favored to win in President Joe Biden’s home state. Most Read from Bloomberg Saudi Billionaire Made $500 Million Russia Bet at War Onset ‘Next Generation’ Moderna Coronavirus Booster Jab Approved for Use in Adults Wells Fargo Plans Major Retreat From Mortgage Business It Long Dominated DOJ Opposes Release of Affidavit in Trump Search, Citing Probe Singapore’s Next Premier Wong Warns US, China May ‘Sleepwalk Into Conflict’ New Hampshire — New Hampshire’s Republican primary to pick a challenger for incumbent Democratic Senator Maggie Hassan includes Harvard University lecturer and founder of Kelan Capital LLC Vikram Mansharamani, state Senator Chuck Morse, former conservative advocacy group director and town manager Kevin Smith, and former executive director of the Bitcoin Foundation, Bruce Fenton. Republicans are also targeting New Hampshire's two House members, Democratic Representatives Chris Pappas and Annie Kuster. Most Read from Bloomberg Saudi Billionaire Made $500 Million Russia Bet at War Onset ‘Next Generation’ Moderna Coronavirus Booster Jab Approved for Use in Adults Wells Fargo Plans Major Retreat From Mortgage Business It Long Dominated DOJ Opposes Release of Affidavit in Trump Search, Citing Probe Singapore’s Next Premier Wong Warns US, China May ‘Sleepwalk Into Conflict’ Rhode Island — Incumbent Representative David Cicilline, who represents the 1st District, is expected to be re-elected. Redistricting slightly changed the makeup of the 2nd District. Jim Langevin, the incumbent in that district, isn't seeking re-election and several candidates are running including Sarah Morgenthau, a former US Commerce Department official, state General Treasurer Seth Magaziner, refugee advocate and Gambian native Omar Bah and former state Representative David Segal. Most Read from Bloomberg Saudi Billionaire Made $500 Million Russia Bet at War Onset ‘Next Generation’ Moderna Coronavirus Booster Jab Approved for Use in Adults Wells Fargo Plans Major Retreat From Mortgage Business It Long Dominated DOJ Opposes Release of Affidavit in Trump Search, Citing Probe Singapore’s Next Premier Wong Warns US, China May ‘Sleepwalk Into Conflict’ Nov. 8 General Election Day Most Read from Bloomberg Saudi Billionaire Made $500 Million Russia Bet at War Onset ‘Next Generation’ Moderna Coronavirus Booster Jab Approved for Use in Adults Wells Fargo Plans Major Retreat From Mortgage Business It Long Dominated DOJ Opposes Release of Affidavit in Trump Search, Citing Probe Singapore’s Next Premier Wong Warns US, China May ‘Sleepwalk Into Conflict’ Louisiana — The state holds a hybrid primary where all candidates are listed on the ballot for each seat. The winner is whoever gets a simple majority, but if no candidate breaks 50%, the race goes into a runoff on Dec. 10. It's unlikely any will, as no incumbent is facing serious opposition. Incumbent Republican Senator John Kennedy can expect to keep his seat. Most Read from Bloomberg Saudi Billionaire Made $500 Million Russia Bet at War Onset ‘Next Generation’ Moderna Coronavirus Booster Jab Approved for Use in Adults Wells Fargo Plans Major Retreat From Mortgage Business It Long Dominated DOJ Opposes Release of Affidavit in Trump Search, Citing Probe Singapore’s Next Premier Wong Warns US, China May ‘Sleepwalk Into Conflict’ (Updates with focus shifting to next race.) Most Read from Bloomberg Businessweek Whole Foods’ Battle Against Black Lives Matter Masks Has Much Higher Stakes Being Thrown Off Social Media Was Supposed to End Alex Jones’s Career. It Made Him Even Richer Chinese Shun Debt and Pile Up Savings, Threatening Global Growth Engine Andreessen Horowitz Thinks It’s Time for Adam Neumann to Build London Lures Top Facebook Executives ©2022 Bloomberg L.P. || Bitcoin (BTC) Fear & Greed Index Exits the Extreme Fear Zone: Key Insights: Bitcoin (BTC) rallied by 7.95% on Monday to wrap up the day at $22,000. While easing bets of the Fed delivering a 100-basis point rate hike provided support, crypto network news updates were the key. The Bitcoin Fear & Greed Index jumped from 21/100 to 30/100, exiting the Extreme Fear zone for the first time since May 5. On Monday, bitcoin ( BTC ) rallied by 7.95%. Reversing a 1.92% fall from Sunday, bitcoin ended the day at $22,447. A bullish session saw BTC rally from an early low of $20,751 to a high of $22,749. BTC broke through the First Major Resistance Level (R1) at $21,385 and the Second Major Resistance Level (R2) at $21,971. A late pullback saw BTC briefly fall to $21,400 levels before a break back through R1 and R2 to end the day at $22,447. Positive news from the crypto space delivered investors a reason to jump back in. From the weekend, a September Merge date for Ethereum was crypto market bullish. Reports of SEC Chair Gary Gensler looking to give the crypto market exemptions from some securities regulations were also crypto market positive. Since late 2021, regulatory chatter has weighed on the broader crypto market. A regulatory environment supportive of cryptos and innovation would be positive for the crypto space. The upside came despite the NASDAQ 100 falling by 0.81%. Bitcoin tracked the NASDAQ 100 through the US session, with a post-US market close rally delivering the upside on the day. BTC-NASDAQ 190722 5 Minute Chart This morning, the NASDAQ 100 Mini was up by 33 points to provide early support. Bitcoin Fear & Greed Index Exits the Extreme Fear Zone Today, the Fear & Greed Index jumped from 20/100 to 30/100. A bitcoin return to $22,000 reflected a shift in investor sentiment to support a move out of the Extreme Fear zone. Fear & Greed 190722 The Index hit its highest level since April 10, when the Index stood at 34/100 and bitcoin at $42,111. For the bulls, the next target is the Neutral zone, which starts at 46/100. The Index last sat in the Neutral zone on April 6, when bitcoin stood at $45,000 levels. Story continues Fear & Greed Chart 190722 Bitcoin (BTC) Price Action At the time of writing, BTC was up 0.89% to $22,647. A mixed start to the day saw BTC fall to an early low of $22,230 before rising to a high of $22,901. BTCUSD 190722 Daily Chart Technical Indicators BTC needs to avoid the $21,987 pivot to target the First Major Resistance Level (R1) at $23,211. BTC would need a bullish session to support a return to $23,000. Another extended rally would test the Second Major Resistance Level (R2) at $23,976 and resistance at $25,000. The Third Major Resistance Level (R3) sits at $25,962. A fall through the pivot would bring the First Major Support Level (S1) at $21,222 into play. Barring an extended sell-off, BTC should avoid sub-$21,000 and the Second Major Support Level (S2) at $19,995. The Third Major Support Level (S3) sits at $18,010. BTCUSD 190722 Hourly Looking at the EMAs and the 4-hourly candlestick chart (below), it was a bullish signal. This morning, bitcoin sat above the 200-day EMA, currently at $21,849. The 50-day EMA pulled away from the 100-day EMA while narrowing to the 200-day EMA, both positive BTC indicators. A bullish cross of the 50-day EMA through the 200-day EMA would bring $30,000 into play. However, BTC will need to avoid a fall through the 200-day EMA to avoid a reversal. BTCUSD 190722 4 Hourly Chart On a trend analysis basis, bitcoin would need a move through a May 30 high of $32,503 to target the March 28 high of $48,192. Near-term, resistance at $25,000 will likely be the first test should the upward trend resume. For the bears, the June 18 low of $17,601 would be the next target, with a fall through last weeks low of $18,919 likely to test investor resilience. BTCUSD 190722 Trend Analysis This article was originally posted on FX Empire More From FXEMPIRE: Novartis no longer expects earnings decline at under-review Sandoz unit Russia strikes cities across Ukraine, gas supplies in focus EU to buy forest firefighting planes as climate crises intensify Bitcoin (BTC) Price Prediction 2030: Is $1,000,000 Too Conservative? Sri Lankan opposition leader drops out of presidential race as protests planned Sri Lanka opposition leader Premadasa withdraws from race for president || Temasek to lead US$100M funding round in Animoca Brands: report: Singapore state-backed fund is leading a US$100 million funding round into Hong Kong-based blockchain and game venture Animoca Brands, Bloomberg reported . See related article: Singapores Temasek says doesnt own Bitcoin, but prepping for tokenized assets Fast facts Temasek will make the investment through convertible bonds, according to unnamed sources cited by Bloomberg. Temasek has been an active investor in the crypto industry despite the 70% slump in the crypto markets capitalization to around US$790 billion earlier this year from an all-time high of about US$3 trillion last November Earlier this year, Temasek led Amber Groups US$200 million funding round and NFT startup Immutables US$200 million Series C. Animoca Brands raised its valuation to US$5.9 billion after a US$75 million fundraising round in July, which was its fifth financing round since 2021. See related article: Animoca says crypto winter a great time for venture capitalists || Stock Market Today: Nvidia Revenue Warning Weighs on Stocks: Nvidia sign on building with dark clouds looming overhead Getty Images Stocks ended Monday with a whimper as a solidly higher open lost momentum throughout the trading day. SEE MORE Buffett Goes on Buying Spree as Stock Market Reels Disappointing earnings announcements from a pair of tech names created selling pressure for the broader market. Most notably, Nvidia ( NVDA ) shed 6.3% after the chipmaker said its second-quarter revenue will likely come in at $6.7 billion – lower than the $8.1 billion it previously guided for – amid a 33% year-over-year decline in gaming revenue. The company also expects "challenging market conditions" to persist in Q3. NVDA will release its full earnings report on Aug. 24. Earnings from Palantir Technologies ( PLTR ) were also on Wall Street's radar. Shares plunged 14.2% after the data analytics firm reported a per-share loss of 1 cent in its second quarter, compared to the consensus estimate for earnings of 3 cents per share. PLTR also gave lower-than-anticipated full-year revenue guidance. Sign up for Kiplinger's FREE Investing Weekly e-letter for stock, ETF and mutual fund recommendations, and other investing advice. Not surprisingly, technology was the worst-performing sector today, giving back 0.9%. Meanwhile, the biggest gains were found in the materials (+0.6%) and real estate (+0.7%) sectors. As for the major indexes, the Nasdaq Composite (-0.1% at 12,644) and S&P 500 Index (-0.1% at 4,140) finished in negative territory, while the Dow Jones Industrial Average eked out a 0.1% gain to end at 32,832. stock price chart 080822 YCharts Other news in the stock market today: The small-cap Russell 2000 jumped 1.0% to 1,941. U.S. crude futures gained 2.0% to settle at $90.76 per barrel. Gold futures rose 0.8% to $1,805.20 an ounce. Bitcoin soared 4.4% to $23,932.38. (Bitcoin trades 24 hours a day; prices reported here are as of 4 p.m.) Bed Bath & Beyond ( BBBY ) and AMC Entertainment Holdings ( AMC ) were notable gainers, with many suggesting retail traders on Reddit's WallStreetBets were driving the action in the two meme stocks. BBBY was up 63.5% at its intraday peak, before closing with a 39.8% gain. AMC shares popped 8.0% today. Signify Health ( SGFY ) jumped 11.0% after a report in The Wall Street Journal over the weekend said CVS Health ( CVS , -0.3%) is looking to buy the healthcare platform. CVS plans to submit an offer for SGFY in the coming week, the article indicates, citing people familiar with the matter. "Since the CVS investor day in December of last year, investors have been waiting for details on how the company plans to deploy capital in order to improve its care delivery model," says BofA Global Research analyst Michael Cherny, who has a Buy rating on CVS. "SGFY used an over-arching tech platform that both allows for optimal efficiency for its clinicians but also to ensure the most appropriate types of evaluations in the home. While CVS does not participate in this market directly, building any additional services into the home in our view would be a positive step, even if it feels like there is more urgency on the primary care side." Story continues What the Inflation Reduction Act Means for Investors Electric vehicle (EV) stocks were a pocket of strength today after the Senate over the weekend passed the Inflation Reduction Act. The industry is poised to benefit from the spending bill, which aims to commit $369 billion toward green energy investments – including extending a tax credit for purchases of electric vehicles – and reduce carbon emissions by 40% by the end of this decade. The efforts to fight climate change are a major part of the roughly $430 billion bill. But as with all things in life, nothing is free. In order to pay for the measures, the plan proposes a 1% tax on stock buybacks and a 15% minimum tax on companies reporting more than $1 billion in revenue. SEE MORE 6 Satisfying Food Stocks That Look Appetizing Right Now "We find the potential tax on share buybacks to be particularly interesting," says Sonia Joao, chief operating officer of Houston-based RIA Robertson Wealth Management. "Share buybacks have been a popular way for American companies, and particularly tech firms, to reward their shareholders. This may incentivize them to spend less on payouts and more on dividends or debt reduction. It's early, but we could see this having far-ranging implications for the U.S. market." While the bill still has to make it through the House before being signed into law by President Joe Biden, investors will want to keep an eye out for its potential impact to their portfolios. Here, we've put together a short guide detailing some of the best (and worst) stocks from the Inflation Reduction Act . Check them out. Karee Venema was long PLTR as of this writing. SEE MORE 12 Best Monthly Dividend Stocks and Funds for the Rest of 2022 You may also like ‘I Can’t Retire – I Need Health Insurance’ Your Guide to Roth Conversions The Inflation Reduction Act and Taxes: What You Should Know || An Alleged Tornado Cash Developer Was Arrested. Are You Next?: Should Tim Cook of Apple be thrown in jail for manufacturing a phone that’s used by criminals to plan heists? Should the CEO of Boeing be punished for building the planes that hijackers flew into the World Trade Center? Is the inventor of the pressure cooker criminally responsible for making something that can be turned into a bomb?
On Friday, newsbrokethat Dutch authorities have arrested someone who allegedly contributed to the open-source Tornado Cash cryptocurrency tumbler on Ethereum. The full story is not yet known, though many crypto and privacy advocates were immediately troubled by the prospect of criminalizing code.
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 fullnewsletter here.
We know the person arrested was a 29-year-old male, and apprehended in Amsterdam. We know Tornado Cash is a service used to anonymize crypto transactions that was sanctioned by the U.S. Treasury Department on Monday. We know Dutch financial regulators opened a criminal investigation into that service in June.
The coder, however, was only “suspected” of helping to code Tornado Cash. And, likewise, only “suspected of involvement in concealing criminal financial flows and facilitating money laundering,” according to the Dutch Fiscal Information and Investigation Service (FIOD).
We do not know the full implications of this move, how wide the probe is or what itmight mean for cryptoin future. “Multiple arrests are not ruled out,” the Dutch financial investigators said in astatement.
Depending on how things shake out, how Tornado Cash’s founders are “dealt with” by criminal investigators and for what justification, the case could have a significant chilling effect on crypto development – especially projects or updates related to privacy.
For years, crypto coders have acted under a cloud of uncertainty. There are real differences between how a truly decentralized program operates in the wild and other software projects, differences that are not yet fully understood under the law. But there’s also something like self-denial at play by the crypto industry, which may lead to a false sense of security or confidence.
There are certain things about writing code that are pretty cut and dry. At least in the U.S., merely publishing code on Github is almost always legal if it’s an original idea – even for controversial things like ghost guns and crypto mixers. That’s a legacy of the so-calledcryptography wars30 years ago: Code is a language,cryptography is speechand the government is constitutionally prevented from banning its production under, say, munitions regulations.
The situation gets dicier when you move beyond the act of writing. “Without commenting on Tornado Cash specifically, acts like providing help to someone who wants to use the code, uploading a mixing smart contract to a protocol or operating a web app which can hook into a user’s MetaMask wallet strays into potentially criminal territory,” Preston Byrne, a lawyer who specializes in cybercrime and crypto, told Motherboard this week.
See also:What the Tornado Cash Sanction Means for Privacy Coins| Interview
This is not the first time a privacy-app developer has been arrested. Last year, the U.S. Department of Justice arrested Roman Sterlingov, the owner and operator of crypto mixerBitcoin Fog, for allegedly assisting money laundering. That was a few months after Larry Dean Harmonpleaded guiltyfor running the unlicensed money-transmitting business Helix and to conspiracy charges related to money laundering on the crypto mixer.
See also:How Popular Are Crypto Mixers? Here's What the Data Tells Us
(The difference between Tornado and Helix or Bitcoin Fog is that the latter two were “custodial,” meaning they took possession of users’ funds – a distinction that may no longer matter when it comes to facilitating money laundering or operating a money transmitter.)
On Monday, the U.S. Treasury Department’s Office of Foreign Assets Control took the unprecedented step of designating a smart contract as a Specially Designated National. This is a classification typically reserved for terrorist organizations and nation-states. It’s a bit like arresting a robot – one that no one can power down or keep others from using.
Tornado Cash is an open-source protocol, meaning that anyone can contribute to ordeploy its code. It’s non-custodial, meaning it doesn’t hold onto user’s funds, nor did it have administrators that could see who was using the application or freeze transactions. Its founders burned the cryptographic keys needed to decrypt anonymous transactions on the platform.
That doesn’t mean its founders didn’t attempt to comply with financial regulations, when asked. In April, Tornado began working with blockchain analytics firm Chainalysis to block addresses sanctioned by OFAC following a particularly high-profile hack orchestrated by the North Korea-backed Lazarus Group. But they were limited by what they could do beyond basically screening the protocol’s “front-end” website.
Once deployed on Ethereum, a smart contract is immutable. This is at least part of the reason why crypto boosters have been so enraged by the recent international actions taken against Tornado. MakerDAO’s Rune Christensen was right to call the sanctions“useless,”because anyone – smart enough to use the command line, and dumb enough to break the law – can still transact with the robot.
In other words, Tornado is a system that operates autonomously. It’s just something that exists in the world – ready to be put to use like an iPhone, a plane or a pressure cooker. And how often are inventors held liable if their systems are misused? As Mike Dudaspointed out, Mastercard (MA) and SWIFT help process fraudulent transactions everyday.
But this argument is not enough. You won’t get far calling cops hypocrites. Although Tornado was clearly used for more than crime – Elliptic and Chainalysis both estimated upwards of $1 billion worth of crypto can be tied back to hacks or malware, out of the $7 billion deposited since 2019 – it was still a system designed specifically to shift some financial flows outside of the purview of financial regulators.
Cops don’t like that. Shifting financial flows without their knowing much about it. Crypto users can say it’s none of the cops’ business how they use their money, but that’s not how the world works. The world isn’t interested in knowing how or why these systems actually operate.
For goodness sake, the U.S. Treasury said that Tornado was used to launder $7 billion worth of crypto, vastly overestimating that amount, according to the data – either meaning they don’t care about the data or are comfortable saying all money that flows by outside its sights is definitionally laundered.
The question for coders might be where this stops, where contributing to a privacy-preserving app crosses the line into facilitating money laundering. Is contributing to Bitcoin’s Taproot part of a conspiracy to assist money laundering, if it eventually improves bitcoin’s privacy? What about contributing to Monero’s upcoming upgrade?
Bloomberg’s Matt Levine has a catchphrase,“everything is securities fraud,”because anything could be considered securities fraud under the broad definition under which the U.S. Securities and Exchange Commission operates. Gary Gensler, the SEC chairman, applies what he callsa “duck test”to determine what is or isn’t a security – essentially a gut call. The same is true for“wire fraud,”or a financial crime “involving the use of telecommunications or information technology.”
See also:Gary Gensler Isn't Buying Your Decentralization Theater| Opinion
Again, we don’t know why this “supposed” Tornado coder was arrested. He could have been working directly with criminal entities or sanctioned governments to tumble ill-gotten gains on Tornado. Or, he could have been like Virgil Griffith, the Ethereum Foundation developer who traveled to North Korea and was charged with sanctions violations for sharing publicly available information about crypto at a conference.
But Griffith was warned by U.S. state officials before traveling, and he went to North Korea anyway. He may have only been giving an idiot’s guide to Ethereum, but he knew that information was interesting because it was framed as a way to bust sanctions.
When it comes to crypto mixers, the warning is clear enough. There’s little hope remaining that someone can deploy an app, let it run and wash their hands of ownership. Even if it’s strictly up to users what to do with the app, there’s still a person behind the code. And it’s probably better if we don’t know their name. || The 3 Cheapest Cryptos You Can Buy That Actually Have Potential: Amid what’s been a rocky cryptocurrency market this year, the search for the cheapest cryptos with upside potential is on. However, there’s cheap, and then there’s value. Indeed, the search for undervalued cryptos with meaningful upside potential is what most investors are really after. The question is, how does one define value in the world of digital currencies? After all, many of these projects don’t have cash flows to base a valuation upon. Modeling out what these tokens should be worth is a rather difficult mathematical exercise. Accordingly, at times, this sector can be viewed as one that’s purely driven by animal spirits. InvestorPlace - Stock Market News, Stock Advice & Trading Tips While there may be some truth to that premise, the reality is that there are plenty of crypto projects providing real value. Here are three I think are worth taking a look at during this market downturn. DOT-USD Polkadot $7.56 MANA-USD Decentraland USD $0.83 ADA-USD Cardano $0.46 Polkadot (DOT) Golden Polkadot (DOT-USD) dot coin cryptocurrency on computer electronic circuit board background Source: Thichaa / Shutterstock.com Polkadot ( DOT-USD ) has been on my watch list for some time and is an intriguing option for long-term crypto investors to consider. Its “layer 0” blockchain network provides for interoperability, i.e., the ability for projects to talk to each other. Via parallel chains (or parachains), Polkadot has developed what many call a decentralized internet of blockchains. The idea is relatively simple: provide some sort of Web3 base upon which developers can tag along. Via Polkadot’s centralized staking model, developers who launch applications on a parachain can benefit from the security and validation of the overall network. Thus, this network provides a hub, of sorts, for a whole ecosystem of real-world utility to be created. That’s something that creates real value. Of course, as activity has slowed to some degree in the crypto world, Polkadot’s valuation has taken a hit. DOT is currently trading 86% below its all-time high of $55 per token. For those thinking long term, this could be a great opportunity to get in at an attractive valuation. Story continues Decentraland (MANA) The logo of the cryptocurrency "Decentraland" (MANA) on the display of a smartphone (focus on the logo) Source: David Esser / Shutterstock.com Decentraland ( MANA-USD ) is a great pick for those who believe the metaverse isn’t just some abstract term, but rather a long-term growth area to focus on. It’s arguably the most popular and most valuable metaverse project out there. Much of that is attributable to the ongoing developments in Decentraland’s blockchain-based virtual world. This metaverse project has integrated NFT technology and is working on integrating other Web3 programs and decentralized applications to its platform. Among the most exciting prospects is the potential for play-to-earn games to coincide with Decentraland’s platform. Over time, such integrations could provide some real value, as this project battles for market share in this nascent corner of the crypto market. It’s hard to say which blockchain-based crypto project will come out ahead. But Decentraland is among the most promising. Thus, at just $0.83 per token, this crypto may be worth a look. Cardano (ADA) The Cardano token with other gold and silver tokens in the background. Source: Shutterstock In my view, Cardano ( ADA-USD ) is one of the more undervalued tokens in the crypto world and its ecosystem is one that’s worth considering as an investment. That’s partly because of Cardano’s growth of late relative to its peers. This smart contract-enabled proof-of-stake blockchain has seen developer interest grow along with the need for more efficient, secure blockchains. With a market capitalization of more than $15 billion , it may seem expensive. However, ADA is trading 85% below its all-time high. Considering it had a market cap of around $100 billion at its high, those who believe this network’s valuation will eventually catch up to its growth have some serious upside potential to consider. Cardano’s approach to upgrading its network is another key reason many are starting to look at this cryptocurrency. Cardano has taken a slow-and-steady approach rather than integrating fast-paced changes. This has ensured network stability, something that’s becoming increasingly valuable. As a long-term investment, I think Cardano is worth a look here at around $0.45 per token. On the date of publication, Chris MacDonald 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 . Chris MacDonald’s love for investing led him to pursue an MBA in Finance and take on a number of management roles in corporate finance and venture capital over the past 15 years. His experience as a financial analyst in the past, coupled with his fervor for finding undervalued growth opportunities, contribute to his conservative, long-term investing perspective. 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 The 3 Cheapest Cryptos You Can Buy That Actually Have Potential appeared first on InvestorPlace . || This niche cryptographic technique could transform privacy in web3: Privacy is a core concern in crypto. Once you know a crypto wallet address corresponds to a certain individual, you can track all the transactions that individual has made through their wallet on any public blockchain, including Bitcoin and Ethereum.
Some cryptographers thinkthe solution to crypto's privacy concerns lies in zero-knowledge proofs (ZKPs), a technique that allows for a transaction to be verified on a blockchain without the underlying data being shared. While zero-knowledge proofs could indeed improve privacy and scalability for some of the most popular blockchains, they are far from being the only cryptographic method that could accelerate progress in web3.
Ravital Solomon, co-founder and CEO ofSunscreen, thinks fully homomorphic encryption (FHE) is even more promising in its potential to bolster privacy in web3. The technology allows for individuals to perform computations on encrypted data without needing to decrypt it, Solomon explained. One of the obvious use cases that comes to mind is for financial institutions, which could use FHE to slice and dice transaction data to detect potential fraud while maintaining more privacy for customers than is currently the norm.
"Zero-knowledge proofs are really exciting in terms of what they can offer to web three. There are all these exciting applications for gaming and identity, but zero-knowledge proofs aren't necessarily the be-all and end-all for crypto or privacy. I think of it as if you are going for a meal. Right now, zero-knowledge proofs are presented as, 'this is the only utensil you possibly need to eat your entire meal,' whereas I don't think that's necessarily true. Fully homomorphic encryption is a different kind of privacy technology, and you can think of it as complementary to zero-knowledge proofs," Solomon, who earned her master's degree from the University of Oxford in mathematics and theoretical computer science, said.
Sunscreen founder and CEO Ravital Solomon.Image Credits:Sunscreen
Part of the challenge with zero-knowledge proofs is that using them can be pricey. Solomon explained that many projects built with ZKPs expect users to have computing power far beyond what the average consumer would have at home in order to perform as intended. That's why she decided to work on Sunscreen, a startup that aims to boost the development of FHE technology.
"Instead of the user needing these crazy machines that are potentially even servers -- forget about laptops -- fully homomorphic encryption is much more lightweight [than ZKPs] for the user. So you can still get privacy for different kinds of transactions and computations, but you can get it for a reasonable cost, even on a laptop," Solomon said.
Solomon co-founded Sunscreen last year alongside threshold cryptography veteranMacLane Wilkison of Y Combinator-backed NuCypher, which is where Solomon was working when she first had the idea to work on bringing FHE technology to market. Wilkison, now Sunscreen's advisor, encouraged Solomon to start a company around her idea.
Today, Sunscreen's three full-time employees (including Solomon) have developed a compiler to make it easier for engineers to build FHE programs. The company alsoannounced the launch of a grants programthat will allocate up to $500,000 ($50,000-$75,000 per project) to fund proposals from developers, academics and researchers that utilize FHE, Solomon said.
To fund these initiatives, Sunscreen just raised $4.65 million in a seed round led by Polychain Capitalwith participation from Northzone, Coinbase Ventures, dao5 and Naval Ravikant. Some of Solomon's former NuCypher colleagues also participated in the round as angel investors,including Entropy founder Tux Pacific. The raise will supplement a $570,000 pre-seed Sunscreen previously raised, Solomon said.
If FHE is so promising, I asked Solomon, then why isn't it already more popular in web3, which seems to be a natural fit for its attributes?
Solomon explained that it's very difficult to write FHE programs because the space is still so nascent, for one thing -- which is part of why Sunscreen is building developer tools to simplify processes around it.
In order for the tech to be useful in the privacy realm, Solomon thinks a new layer-one blockchain is needed, something she plans to work on with Sunscreen in the long term that she says will have a bridge to Ethereum. With a new chain, technologists can build integrations between that chain and other protocols such as FileCoin to hide the underlying data from users, and can leverage both ZKPs and FHE together at a lower cost, Solomon explained.
FHE is a subset of lattice cryptography, an area Solomon said is still considered niche even within the cryptography space.
"My suspicion is that fully homomorphic encryption just recently became efficient enough to make sense for use cases in the last three to four years," Solomon said. "Whereas maybe you and I think zero-knowledge proofs are niche, lattice cryptography [is even more so]. It's just a very small group of people who even, I would say, have the expertise to sit and combine these different areas to solve problems. In web3, I think the space is growing, but it's definitely five years behind zero-knowledge proofs." || FOREX-Dollar near recent peaks as Fed looms, growth fears weigh: By Tom Westbrook SINGAPORE, July 26 (Reuters) - The dollar held just below multi-decade peaks on Tuesday as traders awaited a rate hike from the U.S. Federal Reserve but wondered whether hints of a slowing economy may prompt a shift away from its focus on inflation. The euro rose 0.21% to $1.0240 but was hemmed in by uncertainty over Europe's energy security, which is not helped by a looming cut in the westbound flow of Russian gas. The yen steadied at 136.43 per dollar. The Fed concludes a two-day meeting on Wednesday. Traders have been dialling back expectations as markets try to figure out if or when policymakers might pause inflation-fighting efforts amid signs the economy is starting to slow. Futures pricing points to a 75 basis point (bp) rate hike with a 10% risk of 100 bps. "I don't think the market's got a very good, confident feel that it's going to be one flavour of surprise or the other," said Imre Speizer, an analyst at Westpac in Auckland. "Which is enough to hold the dollar in place." The U.S. dollar index was slightly lower at 106.270, but not too far below a 20-year high of 109.290 hit in mid-July, as the greenback draws strength from expectations of U.S. rate rises and as a safe bet in a global slowdown. A profit warning from Walmart on Monday, which said customers were tightening their belts, was the latest sign that the going is getting tough, following several softer-than-expected U.S. and European data prints. The Australian and New Zealand dollars eked small gains. The Aussie hit a one-month high of $0.6984 and last traded $0.6970, breaking above its 50-day moving average as traders waited for Wednesday's inflation data release. Headline consumer prices are seen galloping at 6.2% year-on-year, the fastest pace in more than three decades. "There may be some slight upside for the Aussie, depending on the data," said analysts at ANZ Bank. "A 50bp hike from the (Reserve Bank of Australia) next week is all but a foregone conclusion – the main risk is for a larger hike," they said. Story continues "But this would require a very, very high CPI number, given that the RBA has more flexibility with its monthly meetings." A 50 bp hike is also seen as the most likely move from the Bank of England next week, though it is barely lending support to sterling. The pound inched 0.2% higher on Tuesday to $1.2075. Elsewhere cryptocurrencies wound back last week's gains. Bitcoin sat at $21,100, its lowest since July 18. Ether also hit its lowest sine July 18 at $1,421. (Reporting by Tom Westbrook Editing by Shri Navaratnam and Sam Holmes) || Celsius Continues To Rapidly Repay DeFi Loans: Embattled crypto lender Celsius Network is aggressively paying down its DeFi debts as user withdrawals remain suspended. Since July 1, Celsius has repaid Aave 146M USDC and more than 53M DAI, while withdrawing almost 6,000 wrapped Bitcoin (wBTC), nearly 55,000 ETH and millions of dollars worth of other tokens posted as collateral, according to on-chain data . Celsius has also repaid about 120M DAI to Compound and withdrawn 4,400 wBTC it had posted as collateral. Last week, Celsius completely settled its debt to MakerDAO, having paid down $190M in DAI since July 2. Celsius Pays Off MakerDAO Debt, Moves $500M of Bitcoin to FTX The news comes roughly a month after Celsius appeared to be at significant risk of insolvency. On June 13, Celsius suddenly suspended customer withdrawals citing extreme market conditions. In a report released last week, Arkham Intelligence released a report detailing Celsius’ on-chain activity alleging Celsius was forced to freeze withdrawals in order to pay down its debts. $750M Deployed “At the start of the market downturn, around June 10th, Celsius appears to have had $604 million of collateral against $303 million in debt on AAVE with a health factor of 1.6. On Compound, Celsius appears to have had $421 million of collateral against a $218 million debt,” Arkham wrote. “After the early June crypto market crash put them at risk of liquidation, Celsius appears to have deployed roughly $750 million worth of liquid capital to these positions, potentially playing a key role in forcing them to freeze withdrawals on June 13th.” Aave liquidates collateral in any collateralized debt position with a health factor that falls below one. As of Monday afternoon, Celsius owes Compound another 50 million DAI, according to on-chain data, with a health factor of 2.88 . It owes Aave 72 million USDC with a health factor of 5.3 . DeFi Transparency As they had after Celsius paid off its MakerDAO debt, observers took the company’s attempts to pay back Aave and Compound as proof that DeFi was less vulnerable to financial shenanigans than traditional finance. Story continues “Celsius paying off loans from DeFi protocols first,” tweeted prominent DeFi investor SantiagoRoel. “Smart contracts with programmed risk parameters can’t be fooled like centralized lenders.” Mario Nawfal, the founder of crypto consulting firm IBC Group, agreed. “When Luna blew up, everyone watched it live on-chain and we all knew the numbers,” he tweeted . “When Celsius, Voyager & 3AC blew up, no one knew anything. DeFi works!” || FOREX-Euro slips back below parity, Norwegian krone falls on planned cbank forex purchases: By Samuel Indyk
LONDON, Aug 31 (Reuters) - The euro slipped back below parity against the dollar on Wednesday and was on track for its third consecutive monthly drop as a burgeoning energy crisis is set to weigh on the bloc's growth, while the European Central Bank (ECB) pushes ahead with rate hikes.
On Wednesday, Russia halted gas supplies from the Nord Stream 1 pipeline, intensifying an economic battle between Moscow and Brussels and raising the prospects of a recession and energy rationing in some of the world's richest countries.
"The narrative that has helped the euro at the start of the week, which is an improvement in the gas story, is fading now which we think will put a cap on euro-dollar," said ING currency strategist Francesco Pesole.
The euro was down 0.17% against the dollar, just slipping below parity at $0.99965.
Meanwhile, a growing chorus of ECB officials have been calling for oversized rate hikes to combat surging inflation, which could exceed 10% in the coming months.
Inflation in Germany, the euro zone's largest economy, hit its highest level in almost 50 years in August, data showed on Tuesday, which has markets pricing a better-than-even chance of a 75 basis point rate rise at the ECB's meeting next week.
Norway's krone tumbled over 1% against the dollar and euro after the country's central bank said it would buy more foreign currency for its sovereign wealth fund.
It was last down 1% against the dollar at 9.8884, hitting its lowest level in a month. Against the euro, the krone was down 0.7% at 9.8833, having earlier touched its lowest level since Aug. 10.
The dollar index, which measures the greenback against a basket of six currencies, was last flat at 108.76, hovering just below a two-decade peak reached on Monday of 109.48.
The index is on track for its third consecutive month of gains, having risen over 2.5% in August.
Eyes are turning to U.S. nonfarm payrolls data due on Friday, with a robust job openings data on Tuesday potentially foreshadowing a strong showing at the end of the week, cementing the case for more aggressive rate hikes.
Federal Reserve officials on Tuesday reiterated their support for further rate hikes to quell inflation, with New York Fed chief John Williams telling the Wall Street Journal that it will "take some time" before interest rates would be cut.
Traders are now pricing in about a 68.5% chance of a 75 bps Fed funds rate hike next month, according to data from Refinitiv.
Chinese data out on Wednesday showed that factory activity in the world's second-largest economy contracted again in August, as new COVID infections, the worst heatwaves in decades and a property sector crisis weighed on production.
Still, China's yuan rose past the key threshold of 6.9 per dollar as a persistently firmer-than-expected official guidance rate discouraged investors from aggressively pressuring the local currency lower.
Cryptocurrencies were staging a rebound on Wednesday, with Bitcoin up 2.4% to $20,291, and Ether, the coin linked to the ethereum blockchain network, up 4.4% to $1,590.
(Reporting by Samuel Indyk; Editing by Kim Coghill)
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 19832.09, 19986.71, 19812.37, 18837.67, 19290.32, 19329.83, 21381.15, 21680.54, 21769.26, 22370.45
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2016-06-24]
BTC Price: 665.30, BTC RSI: 55.16
Gold Price: 1320.00, Gold RSI: 68.20
Oil Price: 47.64, Oil RSI: 47.60
[Random Sample of News (last 60 days)]
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. Story continues "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) View comments || 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 || Fintech could be bigger than ATMs, PayPal, and Bitcoin combined: This is a complimentary article from BI Intelligence, Business Insider's premium subscription service for business professionals.For more information about everything BI Intelligence has to offer, click here to learn more >>
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 likeBettermentoffer 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:
• Retail banking
• Lending and Financing
• Payments and Transfers
• Wealth and Asset Management
• Markets and Exchanges
• Insurance
• Blockchain Transactions
If you work in any of these sectors, it’s important for you to understand how the fintech revolution will change your business and possibly even your career. And if you’re employed in any part of the digital economy, you’ll want to know how you can exploit these new technologies to make your employer more efficient, flexible and profitable.
Among the big picture insights you’ll get from this new report, titledThe Fintech Ecosystem Report: Measuring the effects of technology on the entire financial services industry:
• Why financial technology is so disruptive to financial services—it will soon change the nature of almost every financial activity, from banking to payments to wealth management.
• The basic conflict will be between old firms and new—startups are re-imagining financial services processes from top to bottom, while incumbent financial services firms are trying to keep up with new products of their own.
• Both sides face serious obstacles—traditional banks and financial services firms are investing heavily in innovation, but leveraging their investments is difficult with so much invested in legacy systems and profit centers.
• Meanwhile, startups are struggling to navigate a rapidly-changing regulatory landscape and must scale up quickly with limited resources.
• The blockchain is a wild card that could completely overhaul financial services. Both major banks and startups around the world are exploring the technology behind the blockchain, which stores and records Bitcoin transactions. This technology could lower the cost of many financial activities to near-zero and could wipe away many traditional banking activities completely.
This exclusive report also:
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• Domestic smartphone brands continue to outshine Apple in China || 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 Andresens, supported Wrights claims. Story continues 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 communitys 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) || Bitcoin plunges nearly 25% in 6 days: Here’s 3 reasons why: The price of bitcoin(: BTC=)has plunged almost 25 percent since hitting a two-and-a-half year high last week amid problems at a key exchange and diminishing fears of a Brexit.
Bitcoin was trading around $590.53 by midday London time, a fall of around 23.8 percent from the $774.94 close on June 17, which marked the highest close since November 22, 2013.
The initial rise in the price of the cryptocurrency came last week as traders prepared for aprocess known as "halving"– where the rewards offered to bitcoin miners fall, thus tightening the supply of the digital currency. With anticipation of less supply, prices spiked.
But sentiment was dampened when earlier this week, Hong Kong-based bitcoin exchange Bitfinex was closed for a few hours because of "networking issues" in the company's data center, it said on Twitter. The issues were fixed on the same day.
Bitcoin insiders said that because of the high leverage people trade the digital currency with, small issues in the market can cause big moves.
"The bitcoin price when it goes up is always fuelled by a high leverage, people using margin borrowing money to buy up the price anticipating the block rewarded halving, so the smallest hairline crack can cause a selloff," Bobby Lee, chief executive of BTCC, one of the largest bitcoin exchanges in the world based in China, told CNBC by phone on Thursday.
"Bitfinex's website went down and that was a catalyst for people pulling back, cutting positions, locking in gains. There is waterfall effect where then people are selling, selling, selling."
At the same time, bitcoin has received some safe-haven bids in recent weeks thanks to uncertainty about which way Britons would vote in the country's referendum on its membership of the European Union (EU), which began on Thursday morning.
But opinion polls leading up to the referendum showed a slight bias towards the remain camp winning, helping push financial markets and the sterling higher, but causing a fall in the price of bitcoin.
"I do think it's primarily macro things such as Brexit, you saw the price run up as you saw the opinion polls show leave was winning and as those polls reversed over the weekend, that's when we saw the price reverse" Tom Robinson, co-founder of blockchain start-up Elliptic, told CNBC by phone.
Conversely, the threat of a Brexit had an adverse effect on the Chinese yuan, which hit a five-year low last week, was also a reason cited by experts, given China accounts for the large amount of bitcoin trading.
"Brexit could be a major factor, but, since the lion's share of bitcoin trading activity occurs in and around China, it's unlikely that this is the primary cause. Although if you look at the bitcoin price among exchanges based in China they are $10-20 lower than the global exchanges, this might reflect the yuan's 5-year low and the expected yuan volatility as a result of Brexit," Aurélien Menant, CEO and co-founder, Gatecoin, a digital currency exchange, wrote in an email to CNBC.
Menant added that he expects the volatility "to settle down within the next couple of weeks".
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• 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. Story continues "The possibility that Wright is Satoshi will always exist, but given the amount of evidence calling that into doubt, I think one would be foolish to give that possibility much weight," said Jerry Brito, executive director of Washington, D.C.-based digital currency advocacy group Coin Center. "He's provided no cryptographic evidence verifiable by the public, and many of his answers sound plain fishy... Today's statement on his blog only further tarnishes his credibility." Wright's representatives declined to give any comments on his decision to back away from providing further evidence, but said he was still their client. They believed he was still in London, where he has been living for the past few months. Interviews with some who had done business with Wright in Australia in December, when reports by Wired and Gizmodo that he could be Nakamoto first emerged, and an inspection of documents published by the two tech news websites, painted a complex picture of Wright. They pointed to a smart but sometimes abrasive figure facing growing legal and financial problems at least in part caused by his involvement with bitcoin. Each bitcoin is currently worth around $447 (BTC=ITBT) , making the 15 million or so in circulation worth a total of around $7 billion. Wright said his failure to produce better evidence would cause "great damage to those that had supported" him, in particular Matonis and Andresen. "I can only say I'm sorry. And goodbye," Wright wrote. (Reporting by Jemima Kelly; Editing by Toby Chopra) || Intel has finally admitted that it failed miserably in the mobile market: (Intel)Intel CEO Brian Krzanich.
Things are rough over at Intel. In addition to ahuge 12,000-person layoff,Intel has finally thrown in the towel in the smartphone and tablet markets, too.
On Saturday, Intel confirmed that it was canceling its upcoming Atom chip, known as "Braxton" for smartphones and tablets, and that it was also ditching a few other related smartphone chips, the company told Ian Cutress and Ryan Smithat the AnandTech news site.
There had been some speculation for the past weekamong Wall Street analyststhat Intel was thinking of severely changing its mobile plans as part of the restructuring, when Intel told them that it was rethinking some projects in the Client Computing Group (CCG),Wells Fargo's David Wong reported.
But with this confirmation, Intel is officially crying uncle and admitting failure after spending billions of dollars investing in smartphone/tablet chips.
It's hard to say exactly how much money Intel lost trying to get some skin in the mobile game, the biggest revolution in the computer industry since the PC — and the cause of Intel's ongoing PC business woes.
Intel reported mobile-product financials for only two years before folding it into a bigger "Client Computing Division." But in those two years, 2013 and 2014, the unit showed losses of $3.1 billion and $4.2 billion, respectively, or $7.3 billion for both years,AnandTechreports.
So if it racked up similar losses in 2015, Intel could be down by maybe $10 billion in three years. And given that Intel's competitor, ARM, has won the market anyway, the white flag seems like the only option left.
The AnandTech report notes that it's possible Intel could try to reenter the market with a different chip or strategy. But for now, Intel appears to be out of the game.
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• Famous programmer who sold his company to Microsoft for about $400 million: 'Microsoft is a different company' || Looking For Safe Havens? Buy Gold! Buy Treasuries! Buy...Bitcoin?: The usual safe-haven trades are the only silver linings in an ugly Friday trading session. TheiShares Barclays 20+ Yr Treas.Bond(ETF)(NASDAQ:TLT) is up 2.7 percent and theSPDR Gold Trust (ETF)(NYSE:GLD) is up 4.6 percent.
However, another investment alternative may be emerging as the safe haven of the future. The cryptocurrency bitcoin has also surged above $650 on Friday as investors pour money in. It’s strange to think of a currency known for such extreme volatility as a safe haven, but with the pound and other European currencies taking a Brexit pounding, bitcoin buyers are probably more concerned with long-term value preservation than short-term price swings.
“I don’t think it is a traditional safe-haven trade but a strategy to avoid official manipulation,”Swissquote Bankanalyst Peter Rosenstreich explained.
Bitcoin offers investors a unique new alternative to all traditional investment classes. Therefore, bad news for global financial markets may start to consistently be good news for bitcoin.
Related Link:Baidu Among Companies Working Together To Use Bitcoin Technology To Create Global Bank
Bitcoin investors endured some volatile trading earlier this week when rival cryptocurrency Ethereum suffered a major hack that resulted in $50 million in stolen currency.
While bitcoin likely has a way to go before its price action is stable enough for the cryptocurrency to be considered “digital gold,” bitcoin already seems to be establishing a reputation among traders as a viable option during times of market uncertainty.
Disclosure: The author holds no position in the stocks mentioned.
See more from Benzinga
• What Analysts Think Central Banks Will Do Following Brexit
• What Goldman Sachs Thinks Of The Brexit
• This Treasury Bond ETF Is On Verge Of Bearish Chart Formation
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Exclusive: Coinbase, Ripple close to landing New York bitcoin licenses - source: By Suzanne Barlyn
NEW YORK (Reuters) - New York state's financial regulator is close to approving licenses for bitcoin companies Coinbase Inc and Ripple Labs Inc, which would allow them to offer digital currency services in the state, a person familiar with the matter said on Thursday.
The New York State Department of Financial Services received applications from both companies, according to an April 28 notice published on the regulator's website. The notices, usually published after virtual currency firms have completed the regulator's paperwork, signal that the licensing process is nearly complete, according to the person familiar with the matter and other sources.
An exact time frame for approval of the licenses is not yet clear. The sources requested anonymity because they were not authorized to speak publicly.
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. 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.
Last year, New York became the first U.S. state to issue extensive rules for virtual currency companies. The guidelines, aimed at consumer protection and prevention of money laundering, require companies to obtain what is known in the state as a "BitLicense."
Both Coinbase and Ripple are based in San Francisco.
"We are committed to being fully compliant with all state and federal laws and applied for the license to ensure we remain so," said a Ripple spokesman, who declined to elaborate. Coinbase declined to comment.
The four-year-old Coinbase is one of the world's largest U.S.-based bitcoin companies. Among its backers are USAA and venture capital firms Andreessen Horowitz and Ribbit Capital. Coinbase, which markets its services to consumers and merchants, has also applied for a license that would allow it to facilitate dollar transactions.
Backers of Ripple, which filed for the license under the corporate name XRP II LLC, also include Andreessen Horowitz along with Google Ventures and IDG Capital Partners. Ripple's service and currency, known as XRP, is for financial institutions and companies, such as banks, that provide liquidity for foreign exchanges.
Once approved, the licenses would add to a nascent digital currency industry taking hold in New York. On Thursday, NYDFS approved the application of Gemini Trust Company, founded by investors Tyler and Cameron Winklevoss, to trade a digital currency called ether on its bitcoin exchange.
(Additional reporting by Gertrude Chavez-Dreyfuss in New York; Editing by Lauren Tara LaCapra and Matthew Lewis) || 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)
[Random Sample of Social Media Buzz (last 60 days)]
1 KOBO = 0.00000404 BTC
= 0.0021 USD
= 0.4180 NGN
= 0.0329 ZAR
= 0.2118 KES
#Kobocoin 2016-05-31 22:00 pic.twitter.com/LJSQT3iWin || 1 KOBO = 0.00000900 BTC
= 0.0052 USD
= 1.0346 NGN
= 0.0775 ZAR
= 0.5257 KES
#Kobocoin 2016-06-08 03:00 pic.twitter.com/LzFBDQAQ6p || LIVE: Profit = $669.55 (8.36 %). BUY B19.39 @ $420.00 (#VirCurex). SELL @ $448.10 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || #MaryJane #MARYJ $ 0.001156 (4.20 %) 0.00000219 BTC (0.00 %) || #Bitcoin last trade
@bitstamp $457.00
@coinbase $457.68
Set #crypto #price #alerts at http://AlertCo.in || LIVE: Profit = $612.03 (7.61 %). BUY B19.49 @ $420.00 (#VirCurex). SELL @ $444.80 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || #UFOCoin #UFO $ 0.000028 (2.43 %) 0.00000004 BTC (-0.00 %) || 1 KOBO = 0.00000900 BTC
= 0.0041 USD
= 0.8165 NGN
= 0.0583 ZAR
= 0.4141 KES
#Kobocoin 2016-04-30 01:00 pic.twitter.com/ZohQEPD8zj || $457.42 #coinbase;
$456.00 #bitfinex;
$454.85 #bitstamp;
$450.00 #btce;
#bitcoin #btc || 1 EGC Price: Bittrex 0.00000152 BTC YoBit 0.00000209 BTC #egc #evergreencoin 2016-06-22 17:00 pic.twitter.com/n47CIabSCX
|
Trend: up || Prices: 665.12, 629.37, 655.28, 647.00, 639.89, 673.34, 676.30, 703.70, 658.66, 683.66
|
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 2020-12-03]
BTC Price: 19445.40, BTC RSI: 66.17
Gold Price: 1836.80, Gold RSI: 46.16
Oil Price: 45.64, Oil RSI: 66.56
[Random Sample of News (last 60 days)]
MMA League Debuts Blockchain Tokens to Boost U.S. Fan Engagement: The Professional Fighters League is becoming the first sports league to offer cryptocurrency . To help fans become more engaged with the MMA season and individual fighters, the PFL has reached a deal to sell blockchain-based tokens through Socios .com, a European-based firm that has issued blockchain tokens for teams including soccer’s FC Barcelona, Juventus and Paris Saint-Germain. “It’s all about fan engagement. The new partnership will see PFL launch digital assets providing fans with engagement opportunities, including the chance to earn exclusive rewards on blockchain-based votes on Socios.com,” Peter Murray , CEO of the PFL, said in a phone call. “It’s another opportunity to tell great stories and really provide fans access to activate throughout a season model, which we’re unique with in MMA.” Details on the date, size and price of the offering are still being hammered out with Socios, but tokens will be available to purchase ahead of the PFL’s next mixed martial arts season, which will begin April 2021. Socios’ past offerings with individual teams have tended to sell between $700,000 and $1.5 million’s worth of blockchain-based tokens at around $2.50 a piece. The bulk of the money raised goes to the team with the balance as a fee to Socios. Like the best-known cryptocurrency, Bitcoin, team and league tokens are currencies that users believe have monetary value and can be traded through the Socios app. However, the real value is in deeper fan engagement, which comes from providing token-owning fans unique access to experiences as well as input on some aspects of the team. For instance, the Cyprus-based Apollon FC allowed token-owning fans to vote on the formation and starting 11 for a recent friendly against its cross-island soccer rival. Owners of Galatasaray, a Turkish soccer team, let fans choose the club’s entrance theme played in its home stadium. Juventus asked fans to vote on how to paint the team bus . What perks the PFL will offer fans are still being determined, according to Murray. Token-holders will have ways to support a favorite fighter among the PFL women’s lightweight and five men’s divisions, as well as promotions built around the PFL regular season, playoffs and championships. Unlike other martial sports that are event-focused, the PFL is designed around a season model. Story continues “The PFL is a single entity so it allows them to be more creative than a so-called older league. They’re more hungry for innovation and want to grow their business,” said Alexandre Dreyfus, founder and CEO of Socios, in a phone call from the company’s headquarters in Malta. “The question is, how can you innovate using technology to—not necessarily be better—but be different from other [MMA] offerings? What you buy is a voice, a say in it. It’s a way to be recognized as a fan.” According to Dreyfus, there is a strong base of fans already using cryptocurrency to interact with their favorite teams. More than 335,000 people have downloaded the Socios app and about 20,000 to 30,000 are regular clients. In addition to being the first league to issue cryptocurrency, PFL is also the first U.S.-based sports organization to embrace blockchain tokens. “We are the fastest-growing sport in the world, with 450 million fans and growing. It’s the youngest fanbase and most digitally engaged fanbase, so we thought this was a natural fit for MMA and the PFL,” said Murray. “This platform now represents another opportunity to give fans access and in return see some tangible benefits coming back to them for their loyalty. I think it’s genius.” More from Sportico.com Cryptocurrency For Sports Fans Expands With Socios' New Wish List Feature Kroenke's Sports Teams Ink Deal With Ball Corp. for Aluminum Cups, Denver Naming Rights Michelle Wie West Joins Steph Curry as Owner and Investor in Beverage Brand OXIGEN || Pro-Crypto PAC Giving $50 in Bitcoin to the Campaign of Each Member of Congress: If your elected representative to the U.S. Congress has never heard of cryptocurrencies, how do you start telling him or her about it? Hoping to raise awareness, the blockchain advocacy group Chamber of Digital Commerce’s Political Action Committee (PAC) wants to start by contributing $50 worth of bitcoin to the campaign of those running for re-election. Announced Monday, the advocacy group said under its new “Crypto for Congress” initiative members of the House of Representatives and the Senate running for re-election would receive campaign contributions in bitcoin. According to the group’s founder, Perianne Boring, this is an attempt to raise awareness and give members of Congress a chance to interact with blockchain technology and digital assets. In addition to the contribution, the Chamber’s PAC will also provide online training and a toolkit to help the incumbents engage with cryptocurrencies. “One of the biggest challenges we’ve always had is people just really don’t understand what the heck it is we’re talking about,” said Boring. She added that letting Senate and House members interact with crypto assets through such an initiative could aid the group’s advocacy efforts for an industry that faces multiple public policy challenges such as taxation and regulatory jurisdiction. According to the group, once informed about the contribution, the incumbent’s campaign can either accept it, pass it on to a charity that accepts bitcoin ( BTC ) or just opt out. “Crypto for Congress brings an opportunity for our entire Congressional community to join this generational shift in finance and technology,” said Rep. Tom Emmer (R-Minn.), chairman of the National Republican Congressional Committee (NRCC), in an emailed statement. Emmer is one of the most pro-crypto members of Congress. Boring added the bitcoin being given away as contributions has been mined by U.S.-based tech partners Core Scientific and Luxor. “We’re getting clean bitcoin that was mined here,” she said. Story continues Related: Digital Chamber Adds Mulvaney to Board of Advisers; Visa, Goldman Join Executive Committee Read more: Digital Chamber Adds Mulvaney to Board of Advisers; Visa, Goldman Join Executive Committee Related Stories Pro-Crypto PAC Giving $50 in Bitcoin to the Campaign of Each Member of Congress Pro-Crypto PAC Giving $50 in Bitcoin to the Campaign of Each Member of Congress Pro-Crypto PAC Giving $50 in Bitcoin to the Campaign of Each Member of Congress || AUD/USD Forex Technical Analysis – First Downside Target Zone .7095 – .7090, Followed by .7073: The Australian Dollar is trading lower early Monday, pressured by a stronger U.S. Dollar and position-squaring ahead of next week’s major policy decision by the Reserve Bank of Australia (RBA) and the U.S. presidential elections.
Investors are moving into the greenback for protection as surging coronavirus cases in Europe and the United States and a lack of progress toward a U.S. stimulus package put traders in a cautious mood.
At 05:34 GMT, theAUD/USDis trading .7117, down 0.0019 or -0.27%.
As far as the stimulus package is concerned, U.S. House Speaker Nancy Pelosi said on Sunday that she expected a White House response on Monday regarding the latest stimulus spending plan – but there have been few tangible signs that a long-stalled deal is actually nearer.
The main trend is down according to the daily swing chart. A trade through .7021 will signal a resumption of the downtrend. Taking out .7243 will change the main trend to up.
The first minor range is .7243 to .7021. Its retracement zone at .7132 to .7158 is resistance. This zone stopped the rally on Friday.
The second minor range is .7021 to .7158. Its retracement zone at .7090 to .7073 is the primary downside target area.
The major support is the retracement zone at .7095 to .7020.
The most likely downside target today is a potential support pivot at .7095 to .7090. Counter-trend buyers could come in on a test of this area.
The early price action indicates the direction of the AUD/USD the rest of the session on Monday is likely to be determined by trader reaction to the minor 50% level at .7132.
A sustained move under .7132 will indicate the presence of sellers. This could trigger a break into the support cluster at .7095 to .7090. Aggressive counter-trend buyers could come in on a test of this area, but if .7090 fails as support then look for the selling to possibly extend into the minor Fibonacci level at .7073.
Overtaking and sustaining a move over .7132 will signal the presence of buyers. This could trigger a rally into the price cluster at .7158. This is a potential trigger point for an acceleration to the upside with the next target .7210.
For a look at all of today’s economic events, check out oureconomic calendar.
Thisarticlewas originally posted on FX Empire
• Crude Oil Price Update – Weakens Under $38.83, Strengthens Over $39.42
• Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – October 26th, 2020
• Oil Price Fundamental Daily Forecast – OPEC+ May Have to Reign In Production Cuts to Avoid Steep Decline
• AUD/USD and NZD/USD Fundamental Weekly Forecast – Stimulus May Take Backseat to US Presidential Election
• Bitcoin and Litecoin – Weekly Technical Analysis – October 26th, 2020
• The Crypto Daily – Movers and Shakers – October 26th, 2020 || By the Numbers: More Bitcoin Bulls Than Ever Before: A Long Reads Sunday reading of Grayscale’s recent “Bitcoin Investor Survey.” For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts , Spotify , Pocketcasts , Google Podcasts , Castbox , Stitcher , RadioPublica , iHeartRadio or RSS . This episode is sponsored by Crypto.com and Nexo.io . Related: First Mover: Bitcoin Retreats Before US Election After Dominating Crypto in October On this week’s Long Reads Sunday, NLW diverts from our normal opinion and long-form essay to pursue Grayscale’s recent investor reports. In its survey of investors, Grayscale found more interest in bitcoin investing than ever before, with a significant amount of the growth in interest being driven by economic and monetary policy following the coronavirus pandemic. Grayscale’s “Bitcoin Investor Study” scribd.com/document/481729535/Grayscale-2020-Bitcoin-Investor-Study See also: More Than Half of US Investors Interested in Bitcoin, Grayscale Survey Finds 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 By the Numbers: More Bitcoin Bulls Than Ever Before By the Numbers: More Bitcoin Bulls Than Ever Before By the Numbers: More Bitcoin Bulls Than Ever Before || $14K: Bitcoin Briefly Hits Highest Level Since January 2018: Bitcoin has soared to a 33-month high above $14,000, showing resilience amid growing instability in the traditional markets.
• The top cryptocurrency by market value reached $14,047 around 10:05 UTC on Saturday – the highest level since January 2018, according to CoinDesk’sBitcoin Price Index.
• Earlier this week,bitcoinnarrowly missed breaching the June 2019 high of $13,880 and faced selling pressure as global stock markets registered sharp losses as concerns over the resurgent coronavirus spiked.
• However, the downside was restricted to above $13,000 even as classic haven assets like gold fell to one-month lows near $1,860 amid the dollar strength.
• Stocks have just seen both theirworst weekand month since March.
• Bitcoin’s defense of $13,000 and a quick rise to 33-month highs is perhaps not surprising.
• Market sentiment has been buoyed by several public companies’recent disclosuresof bitcoin treasury investments.
• “Bitcoin currently has a very strong underlying bid from institutions,” trader and analyst Nick Cote told CoinDesk.
• If the cryptocurrency manages to establish a foothold above the June 2019 high of $13,880, the focus would shift to the daily chart resistance range at $15,800–$16,000.
• At press time, bitcoin had dropped back to $13,993, but is still up over 25% for October – the biggest monthly rise since April.
Also read:Bitcoin Traders Can Now Bet on $40K Price With New Deribit Options
• $14K: Bitcoin Briefly Hits Highest Level Since January 2018
• $14K: Bitcoin Briefly Hits Highest Level Since January 2018
• $14K: Bitcoin Briefly Hits Highest Level Since January 2018
• $14K: Bitcoin Briefly Hits Highest Level Since January 2018 || China Construction Bank Pulls Planned Listing of Bitcoin-Tradable Bond: A top Chinese bank has suspended the upcoming listing of a $3 billion bond issuance that was intended to be tradable forbitcoinand U.S. dollars.
• Asreportedearlier in November, the Labuan, Malaysia, branch of China Construction Bank (CCB) was sponsoring the issuance of the Longbond debt securities, set to be traded via the Fusang digital asset exchange.
• In anupdateemailed to CoinDesk Monday, CCB Labuan said the “proposed issuance will not proceed and the overall bond-issuance [program] is being re-evaluated.”
• When asked by CoinDesk, Fusang Exchange was not able to provide any information as to why the CCB had backed out of the issuance.
• CoinDesk reached out to CCB for comment, but didn’t immediately receive a response.
• CCB is one of the “Big Four” Chinese banks and is the world’s second biggest by assets, according toonline sources.
See also:World’s Second-Biggest Bank to Issue $3B in Bonds Tradable for Bitcoin
• China Construction Bank Pulls Planned Listing of Bitcoin-Tradable Bond
• China Construction Bank Pulls Planned Listing of Bitcoin-Tradable Bond
• China Construction Bank Pulls Planned Listing of Bitcoin-Tradable Bond
• China Construction Bank Pulls Planned Listing of Bitcoin-Tradable Bond || First Mover: Just Another Day for Bitcoin as US Election Slides Into Discord, Division: Bitcoin (BTC) was lower, searching for direction as uncertainty over U.S. election results hung over global markets. Prices were down about 2.2% to about $13,700, staying roughly in their range over the past week.
With major states yet to be called in the U.S. presidential race and Republican incumbent Donald Trump accusing Democrats of trying to “STEAL” the election, the early read is that bitcoin prices are reflecting an increased likelihood of prolonged uncertainty or political gridlock that might hamper a quick economic recovery.
Intraditional markets, yields on U.S. Treasury bonds fell by 0.11 percentage point, the most since April, signaling a shift toward risk aversion, or maybe a tempered expectation of outsize U.S. government borrowing. U.S. stock futuresswung between gains and losses. The U.S. dollar was higher in foreign exchange markets. Gold weakened 0.7% to $1,895 an ounce.
Related:Cryptocurrency CEO Donated Second-Largest Amount to Joe Biden's Campaign
“With millions of votes in battleground states still being counted, it’s clear that the election is turning out to be messier and more drawn-out than Wall Street had hoped,” according to Bloomberg News.
The U.S. presidential election is still in flux the morning after and might be for several days.
In some ways, the prolonged uncertainty might have been entirely expected given how contentious the campaign has been, with a U.S. electorate that looks as divided as ever though apparently quite evenly split. But in other ways, the result was a short-term surprise for markets given investor expectations in recent weeks for a “blue wave” of Democratic victories that clearly did not materialize.
What’s known is that the lack of a clear verdict represents what many investors feared would be aworst-case scenariofor global markets.
Related:Bitcoin Jumps Above $14.5K, Taking 2020 Gains to Over 100%
Here are a few takeaways for what it means for bitcoin traders:
1) Crypto traders playing in prediction markets appear to see Democratic challenger and former Vice President Joe Biden heading for a win:
2) The “reflation trade” – where investors expected a quick economic recovery with ample government stimulus – now appears less likely. Democrats held the U.S. House of Representatives and Republicans are expected to hold the U.S. Senate, which could lead to disagreement over the size of a multitrillion-dollar coronavirus stimulus package whoever wins the presidency. That might be bad for bitcoin, since many investors see the cryptocurrency as a hedge against inflation. Ian Shepherdson, chief economist at the forecasting firm Pantheon, told clients in an email early Wednesday: “With Republicans still in charge in the Senate, we’d be surprised to see a stimulus bill early next year much in excess of $500B, far less than the $2T we expected if Democrats had won.”
3) In some ways, the status of the presidential race appears in line with what many investors viewed as the worst-case scenario: an uncertain outcome with the potential to drag on. Trump says he wants the vote counting to stop, possibly seen as an admission that he suspects the final tally might reveal him to be a loser, and says he’s going to take the matter to the U.S. Supreme Court. Given Trump’s known combativeness and willingness to press for every advantage no matter how dubious, it could get ugly. That might mean markets trade for a while in a risk-off mood. In March, bitcoin prices tanked along with traditional markets when the initial coronavirus spread led investors to hunker down.
4) Based on election night trading, it appears that crypto traders see a Biden win as more favorable for bitcoin than a Trump win. That might be due to the expectation that Trump’s protectionist trade policies and antagonism toward China would, all things being equal, lead to a strengthening of the U.S. dollar in the short term. “There appeared to be an inverse relationship between Trump’s winning odds and bitcoin’s price,” wrote the cryptocurrency-analysis firm IntoTheBlock.
5) Market watchers may now start looking ahead to the Federal Reserve’s regularly scheduled meeting on Thursday. No action is expected, but Chair Jerome Powell might use the occasion to stress his readiness to intervene in markets if the election uncertainty causes investors to lose nerve. That could mean more stimulus, in a year when the Fed has already expanded its balance sheet by three-quarters to more than $7T. And investor expectations that the stimulus will eventually lead to inflation has helped bitcoin prices to almost double this year.
6) As chronicled by CoinDesk’s Nikhilesh De in anelection-night live blog, several key crypto-friendly or at least crypto-familiar candidates won election to U.S. legislative seats. They included Senators Cynthia Lummis of Wyoming, Tom Cotton of Arkansas and Mark Warner of Virginia, as well as Representative Darren Soto of Florida. The races could have implications for crypto laws and regulations over the next several years as the industry matures. De’s primer on races to watch ishere.
Bitcoin fell Wednesday alongside traditional markets after President Trump alleged “fraud” in the presidential election and pledged to stop vote counting.
The fall reversed a rally to $14,000 seen late on Tuesday, according to CoinDesk’s Bitcoin Price Index.
The cryptocurrency had begun losing ground during the early Asian trading hours after media reports projected a victory for Trump in key states such as Florida, dashing hopes for a Democratic sweep and a bigger fiscal stimulus package under Biden’s leadership.
But the latest assessment is that Bidenlikely winsif he carries two of the five states still too close to be called: Pennsylvania, Michigan, Wisconsin, Georgia and North Carolina, and prediction markets are giving him the nod.
Bitcoin’s price sell-off accelerated as Trump’s threat to stop vote counting ramped up political uncertainty and sent a tremor through traditional markets. “We want the voting to stop,” Trump said without evidence. “This is a fraud on the American public. This is an embarrassment to our country.”
That last statement might be one that all voters could agree on.
– Omkar Godbole
DeFi sell-off continues as index futures retrace to June levels (CoinDesk)
Ethereum fees plumeted 65% in October, following DeFi volumes back to Earth (CoinDesk)
Binance crypto exchange recovers $344K from scam DeFi project that launched on its platform (CoinDesk)
Nearly $1B in bitcoin moves from wallet linked to Silk Road (CoinDesk)
Cruise-industry group extends suspension of U.S. operations through Dec. 31 (Reuters)
Copper miner Freeport-McMoran, based in Phoenix, Arizona, considers getting rid of headquarters, arguing that staff are “showing we can get the work done remotely” (WSJ)
Chinese President Xi Jinping says in high-profile speech to Communist Party’s Central Committee that country’s economy can double in size over next 15 years (Bloomberg)
• First Mover: Just Another Day for Bitcoin as US Election Slides Into Discord, Division
• First Mover: Just Another Day for Bitcoin as US Election Slides Into Discord, Division || Bolivian Cattle Ranch Will Be Tokenized to Open Up Business to Investors: A new revenue-sharing token will make the value of cattle held at a Bolivian ranch available to investors. Announced Monday, Swiss crypto advisory firm Finka will leverage blockchain infrastructure provider CoreLedger to open up opportunities for traditional investors by allowing them to trade cattle ranching digitally. According to the companies, tokenizing the business will allow trading similar to in a traditional barter economy, Related: Investment Giant AllianceBernstein Now Says Bitcoin Has Role in Investors' Portfolios Finkas native token will be used to facilitate trades every time cattle from the La Pradera ranch in Bolivia are sold, with a share of the profits then distributed to holders of the token. The token is being claimed as the first blockchain-based financial instrument in Switzerland to hold an International Securities Identification Number, the universally recognized identifier for securities. The Finka Token is unique in that it has a built-in link to a secondary market within the CoreLedger platform, said CoreLedger CEO Johannes Schweifer. Holders can convert the token into other tradable assets, literally anything from gold to oil or corn. See also: Latin Americas Big Blockchain Opportunity Related: Australian Investment Group With Billions in AUM Starts Investing in Bitcoin Futures Finkas token is the result of collaboration with other Swiss service providers including banks, engineers, legal advisers and investors, per the release. A special tax ruling means the token is exempt from Swiss withholding tax. Were using cattle ranching as a low-risk activity on which to develop a financial instrument supported by blockchain, said Finkas founding partner, Carlos Fernandez Mazzi. Weve built a good roadmap for other industries to be able to create their own financial instruments for application in other areas of the economy. Related Stories Bolivian Cattle Ranch Will Be Tokenized to Open Up Business to Investors Bolivian Cattle Ranch Will Be Tokenized to Open Up Business to Investors || Optionante – A Rookie Of Binary Option: KINGSTOWN, ST. VINCENT, and GRENADINES, Nov. 26, 2020 (GLOBE NEWSWIRE) -- Established in 2017, the OptioNante started with a dream of becoming the best binary platform in the industry.It was a relative latecomer in the binary industry but with steady efforts, it has grown constantly, rapidly narrowing the gap with the starters.
As of 2020, three years later,The Optionante has achieved rapid growth, reaching about 100,000 subscribers.
Based on a high yield and stable platform, we dreamed of co-prosperity between the company and investors by introducing a product called "vip funding."With several successful fundings, the company is growing beyond comparison over the years.The Optionante has achieved greater success in line with the worldwide boom of the virtual currency Bitcoin.It is now running toward another evolution.
After limited funding for the development of the company and its investors, the justification for the funding is now becoming blurred.Optionante is worried about the rising bitcoin market and the worldwide explosive liquidity of virtual currencies.
Now preparing for another evolution, or reform, on the one hand, content with existing VIPs will be quite different from before.The opionante, which moved quickly to keep pace with the rapidly changing global markets.Now attention is paid to their upcoming innovative moves.
Media Contact Details:Name:Rene StreicherCompany:OptionanteEmail:[email protected]:www.optionante.com
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• Optionante || 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 .
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 18699.77, 19154.23, 19345.12, 19191.63, 18321.14, 18553.92, 18264.99, 18058.90, 18803.66, 19142.38
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2020-08-04]
BTC Price: 11205.89, BTC RSI: 68.08
Gold Price: 2001.20, Gold RSI: 84.66
Oil Price: 41.70, Oil RSI: 58.80
[Random Sample of News (last 60 days)]
First Mover: UK Economy Setback Renews Questions of Bitcoin’s Resilience: Bitcoinwas born in early 2009, in the aftermath of a financial crisis, but until this year it had never actually been through one.
Here’s how that played out: Bitcoin plunged in March as thecoronavirus pandemic spread, then quickly bounced back as market optimism returned along with trillions of dollars of monetary stimulus.
Now, cryptocurrency traders may learn how bitcoin reacts as a new sense of pessimism sets in: Hopes that the global economy will snap back in a V-shaped recovery are diminishing quickly.
Related:Blockchain Bites: BitLicense Feedback, Digital Yuan Trial and How US Bills Could Threaten Privacy
You’re readingFirst Mover, CoinDesk’s daily markets newsletter. Assembled by the CoinDesk Markets Team, First Mover starts your day with the most up-to-date sentiment around crypto markets, which of course never close, putting in context every wild swing in bitcoin and more. We follow the money so you don’t have to. You cansubscribe here.
Figures released Tuesday by the U.K.Office of National Statistics(ONS) showed that the world’s sixth-biggest economy’s recovery is coming much slower than analysts, including the Bank of England’s chief economist, had expected.
Monthly gross domestic product grew just 1.8% in May, well below the 5.5% clip expected by analysts. The pace of growth represented a fraction of the near-25% drop in GDP since the start of the pandemic, the sharpest in three centuries.
The question for cryptocurrency traders is whether bitcoin would sell off if the markets took another leg down, or if it’s more likely to rally due to expectations of fresh money injections from central banks and governments. Bitcoin is seen by many investors as a hedge against inflation, and unchecked money printing could theoretically reduce the purchasing power of major currencies like the U.S. dollar and the British pound.
Related:With Bitcoin Stuck in the Doldrums, Altcoins Continue to Rally
“The economy was still a quarter smaller in May than in February,” said Jonathan Athow, a deputy national statistician for the ONS. Lockdown restrictions meant key parts of the economy “remained in the doldrums, with a number of areas seeing further declines.”
A second coronavirus wave this winter could put the U.K. economy under even more stress and cause long-term damage, analysts fear.
Bitcoin bulls remain optimistic, however. Jason Deane, an analyst at Quantitative Economics, told First Mover the cryptocurrency could continue to hold its value in a fresh downturn, even if traditional assets like stocks tumble anew.
“Based on network strength, ease of purchase/storage and proven resilience, bitcoin is well positioned to act as both an excellent store of value and hedge against fiat,” he wrote in a Telegram message.
As coronavirus cases continue to rise, it’s like the world is experiencing a second wave of economic malaise. In Singapore, for example, where border controls and social distancing measures remain in full-effect, GDPcontracted 41%in the second quarter, following a 33% decline in the prior three months.
Global markets recovered quickly in April, partly because investors saw an opportunity to buy assets, including bitcoin, on the cheap. But with the possibility of a prolonged economic downturn – possibly even a depression – some assets are already beginning to track back.
In the U.S., states including California, Texas and Arizona reimposed lockdown measures, with steps that included shutting bars as the national death toll approached 140,000.
Markets are expected to take another hit as companies report second-quarter results. Data provider FactSet estimates a45% declinein the combined earnings of S&P 500 companies, the most since the 2008 financial crisis.
So far bitcoin has remained largely unaffected by the deteriorating fortunes in the global economy. Its price has been notably sluggish over the past month, moving within a tight range between about $9,000 and $9,500. Its ATR – a volatility metric – is at levels not seen since the start of 2019.
While prices may not have skyrocketed, interest in bitcoin, particularly among retail investors, has remained steadfast. In an informal Twitter poll hosted by bitcoin skeptic Peter Schiff on Monday, 57% of respondents – more than 14,000 people – said they would never sell their holdings, even if the price never went above $10,000.
Long-term sentiment analysis fromTheTIEfound positivity around bitcoin was at its highest in a year and a half.
More recently, the ebullience is nowhere to be found. TheTIE CEO Joshua Frank told First Mover the number of daily tweets about bitcoin has fallen below 25,000, close to a 2020 low.
“We really are not seeing a growing number of users tweeting about bitcoin,” he said via Telegram.
Talks about bitcoin being a new “digital gold’ have fallen flat as its price diverged from that of the yellow metal. Gold’s value shot up last week to a nine-year high of $1,800 an ounce.
Some bitcoin bulls believe, and not without reason, that the cryptocurrency’s price could rise in pretty much any plausible economic scenario – whether the recovery looks like a V, U or even an L.
But sentiment is a fickle, unpredictable thing, and without a compelling narrative, there’s a risk that bitcoin’s price could again start to sink.
BTC: Price: $9,245 (BPI) | 24-Hr High: $9,279 | 24-Hr Low: $9,125
Trend: Bitcoin is struggling to gather upside traction a day after carving out a bullish candle.
The leading cryptocurrency by market value is trading near $9,250 at press time, representing moderate losses on the day.Prices found bids below $9,100 on Tuesday before jumping over $200, forming a candle with a long lower shadow on the daily chart. Such candles are indicative of an impending bullish move. So far, however, the cryptocurrency has remained below Tuesday’s high of $9,282.
Technical traders often wait for confirmation in the form of positive follow-through – preferably a break above the bullish candle’s high – before hitting the market with bids. As such, a move above $9,282 could cause chart-driven traders to join the market, leading to a stronger rally to $9,500 and potentially higher.
On the lower side, the low of $8,905 printed in the first week of July is the level to beat for the bears. A break below that would invalidate the bullish reversal doji pattern seen on the weekly chart and could yield a sell-off to support at $8,630 (May 25 low).
• First Mover: UK Economy Setback Renews Questions of Bitcoin’s Resilience
• First Mover: UK Economy Setback Renews Questions of Bitcoin’s Resilience || Less than 20% of the current supply of bitcoin is used for trading, says Chainalysis: Only 3.5 million bitcoins — around 19% of the total outstanding supply — are used for trading, according to anew reportfrom blockchain analytics firm Chainalysis.
According to the report, nearly 18.6 million bitcoins have been mined as of June 2020, and the majority of this supply is being held long-term.
Chainalysis found that approximately 60% of the current supply of bitcoin is held by parties that have never sold more than 25% of the bitcoin they’ve ever received. The firm categorized this supply as “held for long-term investment.”
Another 20% of the current Bitcoin supply hasn’t been moved in five years or longer, what Chainalysis calls “lost Bitcoin.”
The remaining fraction is used for trading, mainly between exchanges. This amount supplies the market and helps determine the price of bitcoin, Chainalysis said.
The report suggested that bitcoin being held for long term investing could eventually end up being an important source of liquidity in the market as the cryptocurrency becomes more scarce.
The report also found that throughout 2020, around 340,000 people were active Bitcoin traders on a weekly basis. Chainalysis put these traders into two categories: retail and professional. It categorized retail traders as those depositing Bitcoin worth less than $10,000 USD at a time.
Retail transfers account for 96% of transfers sent to exchanges, the report said. Professional traders, on the other hand, accounted for much fewer weekly transfers in 2020, despite playing a larger role in controlling market liquidity.
© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. || Bitcoin’s price hits yearly high after surge above $10,000: The prices of bitcoin hit a new yearly high on Monday, with markets up more than 8% on the day as of press time.
BTC is trading hands at roughly $10,809, according to price data from Coinbase, representing an increase of about 8.8% over the past twenty-four hours. Coinbase data shows a high of $10,968; Bitfinex and Bitstamp hit highs of $10,974 and $10,956, respectively, according toTradingViewdata.
The market move comes days after the price of ether — the native cryptocurrency of the ethereum network — posted a yearly high over the weekend. On July 26th, ETH popped up to a high of $329.99 on Coinbase. At press time, ETH is trading at roughly $320.
Asnotedthis morning by The Block's Frank Chaparro, news and analyst coverage indicates that global economic uncertainty is providing fodder for select markets, including gold and bitcoin.
© 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. || Forex Technical Analysis & Forecast for June 23, 2020: EUR/USD, “Euro vs US Dollar” After completing the ascending structure at 1.1255, EUR/USD is consolidating around this level. Possibly, today the pair may grow to reach 1.1310 and then fall to break 1.1200. Later, the market may continue trading downwards with the target at 1.1100. GBP/USD, “Great Britain Pound vs US Dollar” After finishing the correction at 1.2500, GBP/USD is consolidating below this level. If later the price breaks this range to the upside to 1.2500, the market may continue the correction towards 1.2545; if to the downside at 1.2440 – form a new descending structure with the target at 1.2380. USD/RUB, “US Dollar vs Russian Ruble” USD/RUB is falling towards 69.01. After that, the instrument may correct to reach 69.49 and then resume trading downwards with the target at 68.40. USD/JPY, “US Dollar vs Japanese Yen” USD/JPY has completed the ascending structure at 107.20. Today, the pair may fall towards 106.95 and then start another growth to reach 107.25, thus forming a new consolidation range. Later, the market may break the range to the upside and resume trading upwards with the target at 108.20. USD/CHF, “US Dollar vs Swiss Franc” USD/CHF is still correcting towards 0.9450. After that, the instrument may form one more ascending structure to break 0.9500 and then continue trading upwards with the target at 0.9550. AUD/USD, “Australian Dollar vs US Dollar” After completing the ascending wave at 0.6915, AUD/USD is expected to consolidate around it. If later the price breaks this range to the downside, the market may resume trading downwards to reach 0.6780; if to the upside – form one more ascending structure with the target at 0.6975. BRENT Brent continues forming the ascending wave towards 43.43. Later, the market may start a new correction towards with the first target at 41.65 and then resume growing to reach 42.50. Story continues XAU/USD, “Gold vs US Dollar” After finishing the ascending wave at 1762.50, Gold has completed the descending impulse towards 1747.50, thus forming a new consolidation range between these two levels. If later the price breaks this range to the downside, the market may correct to reach 1735.65; if to the upside – form one more ascending structure with the target at 1800.00. BTC/USD, “Bitcoin vs US Dollar” After finishing the ascending structure at 9700.0, BTC/USD is expected to start a new decline to break 9255.00 and then continue falling inside the downtrend with the target at 8800.00 S&P 500 After returning to 3115.5, the Index is still consolidating around this level. If later the price breaks this range to the downside at 3060.5, the market may resume trading downwards to reach 2958.6; if to the upside at 3150.0 – form one more ascending structure with the target at 3235.5. By Dmitriy Gurkovskiy, Chief Analyst at RoboForex Disclaimer Any predictions contained herein are based on the author’s particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein. This article was originally posted on FX Empire More From FXEMPIRE: Silver Price Daily Forecast – Silver Gets Support From Weaker U.S. Dollar U.S. Stocks Set To Open Higher As Traders Bet On Economic Recovery EUR/USD Daily Forecast – Euro Extends on Gains Following PMI Beat GBP/USD Daily Forecast – Resistance At 20 EMA Stays Strong PMI Come as a Nice Bullish Gift GBP/USD Little Changed Despite a Rise in PMI figures to 4-Month High || Why Bitcoin Will Take a Long Time to Dethrone the Dollar: Related: Is the Travel Rule Good or Bad for Crypto? Both Ironically, the same factors Bitcoin advocates point to as evidence that the fiat system is broken – high leverage and a financialized economy – make it durable, too. Related Stories Why Bitcoin Will Take a Long Time to Dethrone the Dollar Why Bitcoin Will Take a Long Time to Dethrone the Dollar || Tethers Supply on Compound Jumps to Over $224M in a Week: Tethers volume on decentralized lender platform Compound has soared as traders try to maximize the amount of COMP they receive. Data from Compound shows the supply of the USD-backed stablecoin has quadrupled from roughly $43.7 million at the start of the week, to over $224 million on Friday. This time last week, USDT supply had just about crossed the million-dollar mark. With 2,000 suppliers (lenders) and just over 400 borrowers, USDT one of the largest and most active lending markets on the Compound protocol. For comparison, the supply for USDC , another stablecoin, is currently just under the $170 million mark although the number of lenders is far higher at over 5,500. Related: Compound Tops MakerDAO, Now Has the Most Value Staked in DeFi USDts growth on Compound has been faster than the growth of any other asset in the protocol, by multiples, said Calvin Liu, Compounds strategy lead, in a statement. See also: A Coinbase Pro Listing and Other Eye-Opening Data Points on Compounds Surge in Demand This bookends a rather manic week for Compound. Total value locked (TVL) has been on a near-vertical trajectory since the release of its new governance token, COMP, on Monday it broke past the $100 million boundary on the same day, for the first time. At the time of writing, TVL stood at just under $400 million, according to data site DeFi pulse. Related: Market Wrap: Bitcoin Spot Volumes Are Weak While Options and DeFi Strengthen One of the reasons for Compounds soaring popularity this week might be that users are trying to receive as much COMP tokens as they can. The platform rewards all activity with COMP, so both lenders and borrowers are directly incentivized to use the platform as much as possible. This incentive has created a feeding frenzy as COMP soars in price. The token price has more than doubled in the past 24 hours to $200. The rise has been so rapid that aggregation sites are flashing different numbers for market value. At press time, DeFi Market Cap gave Compound a market cap of $1.9 billion, whereas CoinGecko had gone for a more conservative $500 million. Automated market maker Curv told CoinDesk earlier this week that it was seeing users depositing USDC as collateral to borrow USDT and using that borrowed USDT as a deposit for borrowing the USDC back again. Some users repeat this process up to 30 times the maximum leverage on Compound which they use to maximize their COMP allocation. See also: As Tether Supply Hits Record Highs, It Moves Away From Original Home CoinDesk asked Tether whether it thought the surge in USDT supply on Compound could be users trying to game the system. Story continues It wouldnt be appropriate for Tether to comment on this, the spokesperson said. Related Stories Tethers Supply on Compound Jumps to Over $224M in a Week Tethers Supply on Compound Jumps to Over $224M in a Week View comments || The Crypto Daily – Movers and Shakers -06/06/20: Bitcoin fell by 1.74% on Friday. Reversing a 1.17% gain from Thursday, Bitcoin ended the day at $9,620.4. It was another mixed start to the day. Bitcoin rose to a late morning intraday high $9,865.8 before hitting reverse. Falling short of the first major resistance level at $9,961.53, Bitcoin slid to a late morning low $9,624.1. Steering clear of the major support levels, Bitcoin recovered to $9,700 levels before falling to a final hour intraday low $9,620.4. In spite of the late pullback, Bitcoin steered clear of the first major support level at $9,540.43. The near-term bullish trend remained intact, in spite of Friday’s pullback. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend. The Rest of the Pack Across the rest of the majors, it was another mixed day for the majors on Friday. Binance Coin and EOS bucked the trend on the day, with gains of 0.97% and 3.43% respectively. It was a bearish day for the rest of the majors. Cardano’s ADA slid by 4.12% to lead the way down. Litecoin (-1.43%), Ethereum (-1.29%), Stellar’s Lumen (-2.75%), and Tezos (-2.10%) also struggled. Bitcoin Cash ABC (-0.07%), Bitcoin Cash SV (-0.44%), Monero’s XMR (-0.95%), Ripple’s XRP (-0.81%) saw relatively modest losses on the day. Through the current week, the crypto total market cap rose to a Monday high $285.71bn before sliding to a Tuesday low $255.98bn. At the time of writing, the total market cap stood at $268.23bn. At the start of the week, Bitcoin’s rose to a Monday high 67.13% before falling to a Thursday low 65.61%. At the time of writing, Bitcoin’s dominance stood at 65.77%. This Morning At the time of writing, Bitcoin was down by 0.24% to $9,597.0. A bearish start to the day saw Bitcoin fall from an early morning high $9,620.4 to a low $9,552.6. Bitcoin left the major support and resistance levels untested early on. Elsewhere, it was a mixed start to the day. Story continues Cardano’s ADA found early support, rising by 2.08%. EOS (+0.37%), Ethereum (+0.12%), and Ripple’s XRP (+0.17%) also saw green early on. It was a bearish start to the day for the rest of the majors, however. At the time of writing, Tron’s TRX was down by 1.10% to lead the way down. For the Bitcoin Day Ahead Bitcoin would need to move through to $9,700 levels to bring the first major resistance level at $9,784.0 into play. Support from the broader market would be needed, however, for Bitcoin to break out from the morning high $9,620.4. Barring a broad-based crypto rally, the first major resistance level would likely limit any upside. In the event of an extended crypto rally, Bitcoin could eye the second major resistance level at $9,947.6 before any pullback. Failure to move through to $9,700 levels could see Bitcoin struggle on the day. A fall back through the morning low $9,552.6 would bring the first major support level at $9,538.6 into play. Barring an extended crypto sell-off, however, Bitcoin should steer clear of the second major support level at $9,456.8. This article was originally posted on FX Empire More From FXEMPIRE: The Crypto Daily – Movers and Shakers -06/06/20 US Stock Market Overview – Stocks Rally Following Unexpected Jobs Gains Natural Gas Weekly Price Forecast – Natural Gas Markets Continue Sideways Action Silver Weekly Price Forecast – Silver Markets Pull Back From Major Level S&P 500 Earnings Preview – Next Week Entertainment and Retail Continue to Post Financial Results Gold Weekly Price Forecast – Gold Markets Continue to Digest Longer-Term Gains || Twitter Hacker Is a BitMEX Trader, On-Chain Data Suggests: None of the roughly 13bitcoin(BTC) acquired through Wednesday’s Twitter hack have been laundered, according to chain analysis conducted by Samourai Wallet.
But whoever it was is deep into the cryptocurrency space, with the BitMEX receipts to prove it, according topreliminary analysisfrom Samourai Wallet’s research arm, OXT Research. (Apastebincan be found here.)
“Confirmed, no signs of mixing. Majority of funds spent 1 or two hops and [are] now parked,” Samourai said in a Twitter DM to CoinDesk. “Really curious what their cash-out plan is.”
Related:First Mover: Why Bitcoin Traders Couldn't Give a Sat About the Twitter Hack
As of 14:00 UTC, the funds in at least one address are already under the control of Coinbase, Samourai added.
Read more:Full coverage of Twitter Hack 2020
“Based on the history of the first destination address of the cryptoforhealth scam addresses, the scammers have a history of gambling on Bitmex and Coinbase usage,” Samourai researcher Ergo said in aTweet.
“This is peak crypto,” Ergo added.
Related:Twitter Says Hacker Group Targeted 130 Accounts
Overall, Samourai says the hacker only used three Bitcoin addresses and has not sent any funds through a mixing service, as data provider CryptoQuant had previouslytweeted. (CryptoQuant has since told CoinDesk it no longer believes the funds have been mixed.)
“Always a possibility the address is an unlabeled mixer, but I don’t see any hints, and one-time use addresses are very common in general and not a definitive pattern for mixers,” Ergo told CoinDesk.
Those addresses, however, linked to other addresses that Samourai tracked to the popular crypto derivatives platform BitMEX.
“Everything from the first address is being spent to this address 1Ai52Uw6usjhpcDrwSmkUvjuqLpcznUuyF, which looks to have been first funded via BitMex,” Samourai said.
Read more:Samourai Wallet Releases Privacy-Enhancing CoinJoin Feature
On-chain data allows services to track where funds are moving. In this case, the address had previously been used by a BitMEX trader for moving funds on and off the platform. However, BitMEX has less stringent ID policies, also known as Know Your Customer (KYC), for trading on its domain. So BitMEX may not be so helpful in finding the perpetrator.
BitMEX did not return requests for comment by press time.
“At best investigators can subpoena any relevant account info including IP addresses[;] from there, they can glean some additional info from on-chain data including source of funds,” Ergo said in a private message.
Coinbase, on the other hand, has very strict KYC policies. Ergo said the best chance of identifying the hacker comes from Coinbase.
“OXT Reasearch has also noted a small spend of scammed coins to Binance. Other than the history of 1Ai52Uw6usjhpcDrwSmkUvjuqLpcznUuyF, the links to exchanges and known entities remain minimal,” Ergo said.
• Twitter Hacker Is a BitMEX Trader, On-Chain Data Suggests
• Twitter Hacker Is a BitMEX Trader, On-Chain Data Suggests || Bitcoin, Ethereum & Litecoin - American Wrap: 6/8/2020: Bitcoin Price Prediction: BTC/USD Needs To Break $9,724 For A Short-Term Breakout Confluence Detector BTC/USD lost the 12-EMA and the 26-EMA on the hourly chart and it is now trading below $9,700 again. Unfortunately, bulls also lost both EMAs on the 4-hour chart but the candlestick hasn't closed yet. We already know that $10,000 is a crucial resistance area but where are the short-term resistance level? Thanks to the Confluence Detector, we can see Bitcoin will encounter a lot of resistance points around $9,724 where the SMA 5, 1-hour, Fibonacci 38.2% 1-week, Middle Bollinger Band, 15-minute and the Fibonacci 23.6%, daily are all converging. This resistance level is close to another one at $9,757 where the previous 4-hour high and the upper Bollinger Band on the 15-minute chart are standing. Ethereum Topped Bitcoin In Network Daily Fees Over Weekend Daily Ethereum network fees have surpassed those of the Bitcoin network and the gap is growing, recent data suggests. Daily Ethereum network fees surpassed those of the Bitcoin (BTC) network for two consecutive days on June 6 and June 7, data obtained by on-chain market analysis firm Glassnode shows. Litecoin Technical Analysis: LTC/USD Trading Inside A Confirmed Daily Equilibrium Pattern Litecoin is trading at $46.46 at the time of writing, practically in the middle of the current daily equilibrium pattern. Buyers are waiting for a clear break above $48 and sellers for a drop below $45. Its important to note that Litecoin is still in a daily uptrend which should favor the bulls coming out of the current pattern. Litecoin is also holding both daily EMAs. See more from Benzinga Bitcoin, Ethereum & Litecoin - American Wrap: 6/3/2020 Bitcoin, Ethereum & Ripple - American Wrap: June 1, 2020 Bitcoin, Ripple & IOTA - American Wrap: May 27, 2020 © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || First Mover: Cardano’s No Ethereum Killer Yet, but It’s Winning in Crypto Markets: As Ethereum pushes slowly toward a new type of blockchain technology that some cryptocurrency experts predict could represent the future of decentralized finance, the upstart competitor Cardano is getting ready to go live. And Cardano’s digital token, ADA, is soaring this year in digital-asset markets on speculation the project’s early embrace of a “proof-of-stake” blockchain might put it in a stronger position to challenge the much-larger Ethereum network. 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 . Prices for ADA have climbed over 120% this year, the second-best performance among digital assets with a market value of at least $1 billion. It’s trouncing the 80% year-to-date gains for ether (ETH), the Ethereum network’s native cryptocurrency. Bitcoin is up 31% in 2020. The goal for Cardano, similar to Ethereum’s, is to build a massive, decentralized computing network that millions of people, businesses and governments could someday use to run financial applications from anywhere in the world. And while the Ethereum blockchain’s native token, ether, currently has a commanding lead in the competition, with a $26.3 billion market capitalization that’s 13 times the size of ADA’s , the smaller challenger might be poised to win a growing share of the fast-moving industry. The recent catalyst for ADA’s price rally appears to be Cardano’s progress toward a key upgrade of its network known as “Shelley,” scheduled to go live over the next month. Cardano launched its token in early 2017, but that version was “federated,” or managed more centrally. The Shelley upgrade aims to make Cardano “ 50 to 100 times more decentralized than other large blockchain networks,” according to the supporting foundation’s website, using proof-of-stake blockchain technology that is seen as more efficient than the electricity-hungry proof-of-work system used by the Bitcoin blockchain. A testnet of Shelley launched on June 9. Story continues Related: First Mover: Cardano’s No Ethereum Killer Yet, but It’s Winning in Crypto Markets Ethereum is moving to shift to proof-of-stake from proof-of-work as part of a “2.0” upgrade, but backers of that project have only stipulated that the transition will begin by September and then be phased in over stages. “We believe Cardano’s recent price appreciation is partially related to the anticipation of their mainnet launch,” Guy Hirsch, managing director of multi-asset brokerage eToro, told CoinDesk. “If the team working on the project fails to deliver what was proposed, then the market might react negatively.” Cryptocurrencies tied to staking have been among the hottest this year in digital-asset markets, partly because holders can earn rewards akin to interest – especially prized as the world’s biggest central banks have slashed interest rates to accommodate economies racked by the coronavirus and related lockdowns. Another staking token, Tezos (XTZ), is up 93% this year. According to the Cardano website, investors can receive 10% a year in “delegation rewards” from staking ADA. Some cryptocurrency investors see the Shelley upgrade as little more than an opportunity for Cardano to hype itself. The giant U.S. digital-asset exchange Coinbase already offers Tezos staking , and custodian Staked lists eight different digital assets allowing users to earn a return simply for holding them. “I’m personally short on ADA currently,” Mostafa Al-Mashita, vice president of digital liquidity firm Secure Digital Markets, said via a Telegram chat. “We do trade it for our clients. I think the Shelley upgrade will be another case of, ‘Buy the rumor, sell the news.’” Cardano’s charismatic leader is Charles Hoskinson, who marshals the project as co-founder of his own five-year-old engineering company, IOHK. And he might be perfectly equipped, based on his prior work experience, to take on Ethereum: He was an Ethereum co-founder before leaving in 2014 . Hoskinson posted a roadmap on Twitter showing that full staking via the Shelley upgrade would be available by August 18. “Cardano has very high potential in my opinion,” Michael Gord, CEO of GDA Capital, a firm that trades various cryptocurrencies, including ADA and ether. In the race to build a computing platform for applications designed to run on decentralized networks, he said, “it’s the only blockchain that is challenging ether as the potential No. 1 operating layer.” Yet, in crucial ways, Cardano lags far behind Ethereum. Cardano doesn’t plan to add smart contract programming – the key to building decentralized applications, known as dapps – until a subsequent phase ; Ethereum already offers the functionality. According to the website DeFi Pulse, 19 of the top 20 dapps by volume are using the Ethereum network, and the remaining dapp is on the Lightning Network, which is associated with the Bitcoin blockchain. Among open-source software developers, Ethereum garners far more attention. Some 28 people are active on the IOHK GitHub , where the Cardano node and wallet open source software is hosted, versus 61 people working on open-source repositories on Ethereum’s GitHub. In digital-asset markets, Cardano registers little more than a blip compared with the Ethereum network, already used as the backbone for dollar-linked stablecoins like tether and USDC, as well as early-generation decentralized exchanges and lending platforms. Ether’s liquidity at $594 million per day is about 10 times ADA’s, according to Messari, a provider of data on digital assets. “Replicating Ethereum’s developer footprint and network effects is nearly impossible for a smaller network today, and probably value destructive for the crypto ecosystem,” Lex Sokolin, global fintech co-head at the Ethereum-focused software-engineering firm ConsenSys, told CoinDesk in an email. One thing the competing projects have in common is high-profile leaders: Where Ethereum has Vitalik Buterin, Hoskinson provides the charismatic presence for Cardano’s development. He frequently conducts live “ask me anything” sessions on YouTube, interspersing discussions of the Shelley release with musings on meditation, fasting and picking radishes in his garden. He can be brusque with questioners he feels are unprepared or less informed. In a surprise AMA session on June 9, Hoskinson told one community member , “I will answer your questions if your questions are new, but if your questions have been answered previously, you need to pay attention.” Admirers say he’s merely doing his job of taking Cardano to the next level. “Thanks to Charles Hoskinson, Cardano enjoys some of the same audience and hype that has carried Ethereum into the upper echelons of the industry,” said Edward DeLeon Hickman, founder of Anatha, a startup building its own blockchain. In a recent interview with Hoskinson, he acknowledged how little control he has over the market for ADA tokens. “Sometimes the market just values something differently, and you just accept that as reality, because you can’t really fight the market, and then you just do your best to try to work within the constraints of a broken system,” Hoskinson told CoinDesk in a recent interview . Traders seem more willing than ever to take a view on Cardano as a cryptocurrency. And gains this year in the ADA token may represent a bet on the ability of network’s leader to execute the project roadmap. Tweet of the day Bitcoin watch BTC : Price: $9,107 ( BPI ) | 24-Hr High: $9,441 | 24-Hr Low: $8,910 Trend: Bitcoin fell to three-week lows below $9,000 earlier on Monday and may be looking at further losses as technical charts have turned bearish. To start with, the 14-day relative strength index has dipped below 50, confirming a head-and-shoulders breakdown – a bearish reversal pattern. Meanwhile, the MACD histogram, an indicator used to identify trend changes and trend strength, is beginning to produce deeper bars below the zero line. That implies that the downward move may be about to pick up the pace. On the downside, key support is located at $8,630 (May 25 low). A breach there would invalidate the bullish higher-lows pattern and may invite stronger chart driven selling. Below $8,630, the focus would shift to the 200-day moving average (MA) at $8,000. So far, however, downside has been restricted near $8,900. At press time, the cryptocurrency is trading near $9,089, representing a 2.7% decline on the day. While the daily chart indicators are biased bearish, the longer duration charts are still calling a move to the higher side. Notably, the weekly chart RSI is hovering in bullish territory above 50 and the 10-week MA is still trending north in favor of the bulls. As a result, a fresh move to $10,000 cannot be ruled out. The probability of a move higher would improve if prices hold above $9,000 through the U.S. trading hours. The options market is also suggesting losses may be limited, with the put-call volume ratio having risen to three-month highs. Related Stories First Mover: Bitcoin Recouples With Wall Street as Stocks Tumble, Fear Trade Returns Why Bitcoin Suddenly Dropped 6% on Thursday
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: no change || Prices: 11747.02, 11779.77, 11601.47, 11754.05, 11675.74, 11878.11, 11410.53, 11584.93, 11784.14, 11768.87
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2019-04-23]
BTC Price: 5572.36, BTC RSI: 77.21
Gold Price: 1269.30, Gold RSI: 35.81
Oil Price: 66.30, Oil RSI: 73.69
[Random Sample of News (last 60 days)]
Breez Wants to Make the Lightning Network More User Friendly: New announcements around Bitcoin’s Lightning Network have been coming almost nonstop lately, with new exchanges, wallets and other services popping up seemingly every day.
Two weeks ago,Zebpay announced its Lightning integration. Last week,Lightning Power Users officially launchedandBitrefill released an improvement to its Thor service. Just this morning,Sparkswap announced the public betaof its Lightning-powered exchange platform.
Now, there’s a brand-new wallet coming to market with a focus on ease of use. Today,Breezhasannouncedthat its mobile Lightning wallet is available in open beta.
Perhaps the most unique attribute of Breez is that it doesn’t include an on-chain bitcoin wallet. In other words, it’s all Lightning.
“Lightning only,” Breez CEO Roy Sheinfeld confirmed in an interview withBitcoin Magazine. “This is one of the elements that simplifies the user experience.”
Sheinfeld pointed to the fact that no bitcoin wallet management is necessary and users have a single balance — rather than both an on-chain and a Lightning balance — as examples of this simplification.
Although on-chain funds cannot be stored in Breez, the app includes the ability to move funds from traditional, on-chain bitcoin wallets to the Lightning-based Breez via Submarine Swaps, which werepopularized by Lightning Labs Infrastructure Lead Alex Bosworth.
“Breez allows its users to add or remove funds via on-chain transactions,” said Sheinfeld. “We use Submarine Swaps to provide a simple user interface without requiring our users to manage another bitcoin wallet inside Breez.”
Sheinfeld also explained how the complexities involved with opening and closing Lightning channels are hidden from users.
“Opening a channel is seamless to the user,” he said. “When a user installs Breez, we automatically open a channel funded by our hub. We provide anlncli-like interface for advanced users for extended channel management.”
Breez users also don’t need to worry about running a full node (if they trust Breez), as each user automatically runs aNeutrinonode, which usessimplified payment verification(SPV), on their mobile devices. (Although it has the same name, this Neutrino node is unrelated tothe controversial Blockchain analytics company that was recently acquired by Coinbase.)
By default, users can only open channels with a Lightning hub operated by Breez.
“Lightning transactions are executed when both user nodes are online,” explained Sheinfeld. “And, since payments are routed via the Breez hub — which is always online — there is no chance of misconduct between Breez users. Advanced users can open channels against other nodes, but since third-partywatchtowerservices are not yet available, we do not recommend it.”
Of course, this may mean that users must trust Breez not to cheat. It is not a secure best practice to receive Lightning transactions without checking in on the blockchain from time to time, because the user on the other end of a Lightning channel could broadcast a lie about the state of the two parties’ Lightning channel balances.
By periodically checking the blockchain for transactions related to the Lightning channel, a user can detect attempts to lie and then broadcast a different transaction to prove that the other person tried to withdraw bitcoin from the channel that wasn’t theirs to take. The user who tried to cheat then loses their share of the Lightning channel’s total balance as punishment.
So, the drawback with Breez is that users are unable to securely receive bitcoin on the Lightning Network without checking in with the blockchain every now and then (unless the user is willing to simply trust Breez not to cheat).
“Breez hub can close the channel when the user is offline and publish an old state to the blockchain,” explained Sheinfeld when asked about the level of trust users must put into Breez. “However, since the user runs a light node, the Breez hub can be penalized trying to do so. The risk is when the user is offline for days. Once third-party watchtowers are available, they can help mitigate it and completely reduce this trust.”
It should also be noted that, while Neutrino is a massive improvement over old SPV models in terms of privacy, some data is still leaked to the full nodes that serve data to the light clients.
“Neutrino clients still leak some information about a user’s wallet, since an adversary can potentially observe which blocks the client is downloading and find addresses that are reused across those downloaded blocks,” according toa Lightning Labs blog post on Neutrino. “To mitigate this, we’re exploring the use of Private Information Retrieval for blocks as mentioned above. Nonetheless, we believe Neutrino is still far better for user privacy than other mobile options.”
However, these issues around privacy and trust are not specific to Breez and really stem from the Lightning Network being in the early stages of development.
The Breez hub is a key aspect of this Lightning wallet’s attempt at creating a user interface that is simple to use and easy to understand, and they’ll need to stake enough bitcoin in their hub to allow their users to transact on the network.
“Users’ channels are private,” said Sheinfeld. “Currently, for each user we open a channel with one million satoshis capacity. We have hundreds of users in the closed beta and anticipate a few thousand soon after opening the beta. We try to minimize opening public channels to others’ hubs, and only maintain channels with well-connected hubs. We currently have 1.5 bitcoin in our public channels which we rebalance frequently.”
In these early days, it will be extremely important for Breez to properly manage its hub’s position in the greater Lightning Network. If the Breez hub is not well connected, its users’ payments will fail and they won’t have the option to open a channel with another Lightning node or fall back to the blockchain to make the transaction.
Of course, users can always use aSubmarine Swapto move their funds to another bitcoin wallet if they’re unable to make a payment with Breez.
According to Sheinfeld, this sort of model, where bitcoin wallets provide their users with a Lightning hub, is one way in which the Lightning Network itself is likely to increase its user base, at least in the first phase.
“I think the next step would be to decouple the wallets from the hubs,” he added. “We at Breez are already working to provide the ability for our users to choose other hubs, similar to the internet ISP model. A mobile wallet still needs to provide services that are not related to operating a hub, such as mobile notifications, on-chain updates, Submarine Swaps and others.”
In the past, there have beenconcernsthat Lightning hubs (or even smaller Lightning nodes) could be targeted with regulations due to the view that they’re acting as money transmitters. When asked about this matter, Sheinfeld agreed there is reason to be worried about this.
“I’m concerned regulators won’t understand our technology,” said Sheinfeld. “As a non-custodial service, we are not managing funds on behalf of our users. Our hub acts as a routing node. In that regard, it’s no different than an ISP or an internet provider.”
Breez also has additional features outside of its Lightning functionality.
The wallet supportsFastBitcoins.comfor users who wish to add bitcoin to the app via a cash-based exchange, while a credit card-based model through a partnership with a currently unnamed third party is also in the works.
“We really want to encourage users to spend bitcoin instead of converting them back to fiat, that’s why we are currently investing our efforts in expanding our marketplace,” said Sheinfeld.
The marketplace Sheinfeld mentioned currently only includesBitrefill, but Breez plans to addln.pizzaintegration in the near future.
“We’re always looking for serious Lightning merchants to work with us to provide a great Lightning-fast shopping experience,” added Sheinfeld. “There aren’t that many at the moment.”
Breez also plans to partner with another third party to handle fiat off-ramps for merchants.
“We started exploring with several vendors the ability to provide bitcoin to fiat conversion: this is a must-have for merchants,” said Sheinfeld.
There is also a Breez card that allows users to make purchases at traditional payment terminals via near field communication (NFC).
“Breez supports NFC, both using a device or via a Breez card,” explained Sheinfeld. “There are cases, like in a restaurant, when you don’t want or can’t hand out your phone to make a payment. In this scenario, it is much easier to use a card. You can give the card to someone else (like your child) to buy something, and since you need to approve the purchase in your device, you have full control on how the card is being used. The point behind the card is to demonstrate the bitcoin payments can be on-par with fiat when it comes to user experience.”
Although Breez isn’t completely trustless or private, the app provides a glimpse into how much more user-friendly Lightning wallets could be once additional tools, such as watchtowers and an even more privacy-enhanced version of Neutrino, are available.
This article originally appeared onBitcoin Magazine. || Nouriel Roubini thinks the crypto community is full of arrogant zealots and fanatics: In yet another attack on the cryptosphere, Bitcoin and cryptocurrency sceptic Nouriel Roubini has labelled individuals involved in the emerging industry as total zealots and fanatics. In an interview titled The Mother and Father of All Bubbles conducted by the CFA Institute , Roubini said that the whole crypto space is one of assets that are not really money. Theyre not really a currency. Theyre not a scalable means of payment. Theyre not stable in terms of a store of value. On Twitter The venting went on as the self-endorsed Dr Doom displayed his overwhelming distaste for the crypto asset class and all who are involved in it. He said: I engage on Twitter and I also have attended many of these crypto or blockchain conferences. I met some of these individuals, and I must say Ive never seen in my life people who are so arrogant in their views, who are total zealots and fanatics about this new asset class. Not backing Jamie Dimon Roubini has also recently been tweeting about the launch of the JP Morgan stablecoin JPM Coin , which he believes is not a cryptocurrency. He stated: The new alleged JP Morgan crypto coin [does not have] anything to do with blockchain/crypto. It is private not public, permissioned not permissionless, based on trusted authorities verifying transactions not trustless, centralised not decentralised. Calling it crypto is a joke. What would happen if JP Morgans permissioned blockchain was hacked? By Nawaz Sulemanji March 8, 2019 The long tirade on the pitfalls of the token-based, decentralised economy from Roubini seems almost like abuse and an attempt to shill the debt-based, centralised fiat economy. The rant concluded with the claim that the ratio between arrogant and ignorant is astounding I have never seen such a gap in my life. These are fanatics. Some of them are like criminals, zealots, scammers, carnival barkers, and insiders who are just talking their book 24/7. The post Nouriel Roubini thinks the crypto community is full of arrogant zealots and fanatics appeared first on Coin Rivet . || Ethereum Has More Than Twice as Many Core Devs per Month as Bitcoin, Report Says: Ethereum (ETH) has the most developers working on its base protocol of allcryptocurrencies, not counting community project developers, according to a report by crypto asset management firm Electric Capital. The report was published in a Mediumposton March 7.
Per the post, the company fingerprinted over 20,000 code repositories and 16 million commits to obtain data, which reveals that on average 216 developers contribute code to ETH repositories every month. The company also specifies that this data “is undercounting the number of Ethereum developers since we do not include ecosystem projects like Truffle.”
Bitcoin (BTC), the largest of all cryptocurrencies by market capitalization, has a healthy developer base as well, averaging over 50 developers per month. The report specifies that this data does not include ecosystem projects.
An even more restrictive data set, which only considers contributions to core protocol, reveals that:
“Ethereum is by far the most active at 99 monthly developers on average.”
Bitcoin, on the other hand, has an average of 47 core protocol developers every month, making it the second most active.
The data also reveals that big platforms such as Eos (EOS), Tron (TRX) and Cardano (ADA) all have over 25 monthly core protocol developers on average.
Another point made in the report is that while the market lost about 80 percent since its peak, data shows that the monthly active developer base has fallen by only 4 percent. Moreover, according to the report, the number of developers working on public coin repositories has doubled over the last two years.
According to the company’s global data, over 4,000 developers per month contribute code to over 2,800 public coins. As the study notes, this data does not consider private, not yet launched or non-coin projects, such as the Lightning Network.
The report also points out that “many projects who [sic] are being abandoned by developers are forks of high network value coins.” For instance, Dogecoin (DOGE) hasn’t had developers for months while the Litecoin (LTC) developer base has fallen from 40 developers per month to just three over the last year.
The report also notes that both Bitcoin Diamond (BCD) and Bitcoin Gold (BTG) have had code contributions from under five developers since October 2018.
As Cointelegraph recentlyreported, Ethereum co-founderVitalik Buterinhas stated he was trying to solve Bitcoin’s limited functionality with the creation of Ethereum.
On the other hand,TwitterandSquareCEO Jack Dorseyalludedto spending $10,000 per week on Bitcoin during a recent podcast.
• China’s 10th Crypto Rankings: EOS Still in First, TRON Joins and Beats Ethereum to Second
• Crypto Markets Mellow After a Surge of Growth, Stock Market Slightly Down
• Most Top Cryptos See Minor Losses as Bitcoin Hovers Over $3,850
• Bitcoin Hovers Over $3,850 as Most Top Cryptos See Losses || Bitcoins Price Climbs Above $5,500 to Reach 5-Month High: Bitcoins price extended its recent gains today by spiking above $5,500 for the first time in over five months. At 04:00 UTC, the worlds premier cryptocurrency, whose market capitalization accounts for more than half of all other cryptocurrencies combined, picked up a bid and saw its price climb as high as $5,650 in less than 10 minutes on April 23 its highest price since Nov. 18, 2018. At the time of writing, bitcoins price has since pulled back slightly, now trading across exchanges at an average price of $5,586, according to CoinDesks price data . You Can Now Shop With Bitcoin on Amazon Using Lightning Also up roughly 1.48 percent on the day, bitcoins individual market capitalization rose to its highest value since mid-November of $96.9 billion while its percent share of the broader cryptocurrency market, also known as its dominance rate, currently records 53.2 percent, according to CoinMarketCap . CoinMarketCap data also reveals the cryptocurrencys exchange trade volume reached 15 billion in the last 24 hours, yet those figures may be misleading as suggested by a recent report from asset management firm Bitwise, which identified 95 percent of the reported trading volume on CoinMarketCap to be fake, with only 10 exchanges reporting honest figures. These 10 exchanges combined, which include the likes Coinbase, Kraken, Bitstamp and more, reported $14.95 billion worth of total bitcoin trading volume in 24-hours time, according to Messari.io . Bitcoin Price RSI Confirms Possible Long-Term Bull Reversal Generally accompanied by a strong move in bitcoins price are similar movements to the USD value of most other cryptocurrencies. Indeed, the broader market is flashing green today with nine of the top 10 cryptocurrencies by market cap rank reporting gains above two percent, the strongest performer of which, Cardano (ADA), is now up 9.71 percent on the day (CoinDesk data). In all, the total capitalization of the cryptocurrency market increased roughly 6.3 billion during todays rally and now registers $184.3 million, down roughly 78.2 percent from its all time high of $835 billion achieved on January 7, 2018, Coinmarketcap data further reveals. Story continues Disclosure: The author holds no cryptocurrency at the time of writing. Bitcoin image via Shutterstock ; charts via TradingView Related Stories Bitcoin Clings on Above Key Support Amid Signs of Price Pullback Bitcoin Fees Jump to Nearly 1-Year Highs But Why? || E-Commerce Giant Rakuten Wins License for New Crypto Exchange: Japan’s top financial watchdog has granted a license to a cryptocurrency exchange being relaunched by e-commerce giant Rakuten. The countryâs Financial Service Agency (FSA) announced the news Monday, stating that the new exchange, Rakuten Wallet, is now registered with the Kanto Local Financial Bureau as a virtual currency exchange service provider under the countryâs Payment Service Act . Rakuten also confirmed the news in a separate statement . Rakuten Wallet is a wholly-owned subsidiary of Rakuten and replaces an exchange called Everybodyâs Bitcoin Inc. that it acquired for $2.4 million last August. SBI Holdings Latest Crypto Venture Will See It Make Mining Chips The firm rebranded the exchange offering to Rakuten Wallet on March 1. In its announcement, Rakuten also said it is ceasing the older service at the end of this month and that users can sign up for the new Rakuten Wallet service from April. The firm also said Everybodyâs Bitcoin had been operating as a “deemedâ cryptocurrency exchange provider since its launch in March 2017, having applied for a license at the time. The firm received a business improvement order from the Kanto bureau last spring, and has “officially restructured” its management system and upgraded internal systems in order to receive the license for the rebooted entity. The FSA at the same time issued a license to another exchange called DeCurret, which says it will provide spot trading of four cryptocurrencies from April 16 in Japan. New accounts start opening from March 27. DeCurretâs shareholders include notable firms such as MUFG Bank, Nomura Holdings, Internet Initiative Japan Inc., Daiwa Securities Group and the Dai-ichi Life Insurance Company, among others. In January, the FSA also granted license to Japanese crypto exchange Coincheck, which suffered a $530 million hack early last year. With the two new approvals, the number of licensed cryptocurrency exchanges in Japan now stands at 19, according to the FSA announcement. Story continues Crypto Market Maker B2C2 Hires Wall Street FX Vet to Lead US Expansion Rakuten image via Shutterstock Related Stories Mt Gox Trustee Approves Creditor Claims Worth Billions Japan to Tighten Rules on Cryptocurrency Margin Trading || CVS to Sell Cannabis-Based Products, but Only in These Key States: doctor holding CBD hemp marijuana oil Drugstore CVS recently announced its plans to begin offering hemp-based CBD products at 800 stores across eight states. The news sent shares of Ceraleaf, the company that makes the product, soaring some 17 percent on March 21. The market for CBD oil is projected to reach $1 billion by 2020. The largest pharmacy chain in the country has begun selling cannabidiol (CBD) products in eight states, marking a potentially major development in the growth of the CBD industry. On March 20, drugstore chain CVS — which has over 9,900 locations worldwide — announced its plans to begin offering tinctures, oils, ointments and supplements with CBD in 800 stores across California, Colorado, Nevada and five other states. Seeing Green: How Much States Make From Cannabis CVS Helps Send Shares of Ceraleaf Soaring The move by CVS to begin offering CBD products comes on the heels of the legalization of hemp last year. While hemp contains little to no tetrahydrocannabinol (THC), the cannabinoid that gives marijuana its psychoactive properties, it does have CBD, which is present in both the hemp and cannabis plants. And while it remains illegal to sell food products laced with CBD, supplements and other over-the-counter treatments using the compound are legal to sell in certain states. And, with the availability of CBD in now-legal hemp, national retailers can consider selling these products in the jurisdictions where it’s legal without violating federal law. That’s important as even those companies selling cannabis products legally in states like California or Colorado are unable to do things like process credit cards or use banks. Supplements using CBD have become a popular new remedy for anxiety and some other ailments despite a relative lack of scientific evidence supporting claims it can relieve symptoms for those conditions. The market for CBD oils is projected by certain industry groups to reach $1 billion by 2020. One of the big winners in the deal is Ceraleaf, the legal cannabis company that is partnering with CVS to sell its products. The news was announced during the company’s earnings call on March 20, and company shares were up 17 percent in trading on March 21 on the Toronto Stock Exchange after already gaining 41 percent on the year. Story continues Also See: Kamala Harris Backs Marijuana Legalization — Should Investors Make the Leap? Is It Time to Invest in Cannabis Stocks? While part of the only reason CVS could consider selling CBD products is that it can now access those that don’t utilize cannabis, it remains likely that many will read this move as part of a growing cultural acceptance for cannabis consumption in the United States. At least 10 states have legalized sale for recreational use — including California, the nation’s most populous state — and at least 22 states have decriminalized possession of small amounts. That puts the state of the legal cannabis industry in a unique regulatory environment that makes the proper valuation of the companies currently in business exceedingly difficult. Plenty of investors might be imagining an opportunity not unlike the one that helped Joe Kennedy establish the family’s dynasty when he purchased the rights to distribute prominent European liquor brands like Dewars in the United States at a discount shortly before the repeal of Prohibition — a deal that made him the equivalent of about $100 million in today’s money. Should the current climate of relaxation of marijuana laws continue — and eventually result in changes to federal law — it could mean that at least some cannabis stocks could ultimately produce huge returns. Related: These Major Brands Are Taking Cannabis Mainstream — Will You Invest? However, there’s a reason why the entire industry is so fraught with risk. Marijuana remains a schedule I drug, putting enormous restrictions on any company that sells it regardless of state laws where it operates. What’s more, not every marijuana stock is made the same. Most are still too small to trade on the Nasdaq or New York Stock Exchange, meaning that a large portion of the industry is penny stocks that trade on OTC markets. That makes for a lot more risk, including the potential for bad actors: the Securities and Exchange Commission opted to release an investor warning against penny stock frauds involving cannabis stocks back in 2014. So, for the time being, cannabis stocks should be viewed as a very high-risk, high-reward proposition. Some might present incredible opportunity for huge growth due to the current, unique historical period of transition in terms of their product’s legality. But legalization is not necessarily a foregone conclusion, and even if it does come to pass, anticipating which specific companies will cash in — and which are destined to wash out or represent outright fraud — is not easy. Find out which states have earned billions through the marijuana industry . More on Investing and Money How Industries Like Cannabis Are Changing the Economy Check Out Investments That Are Slightly Less Risky Than Bitcoin 9 Fastest-Growing Industries to Invest In Watch: Coca-Cola Eyes Possibility of Producing Cannabis-Infused Drinks We make money easy. Get weekly email updates, including expert advice to help you Live Richer™ . This article originally appeared on GOBankingRates.com : CVS to Sell Cannabis-Based Products, but Only in These Key States || Crypto Trading Platform Tagomi Nets $12 Million in New Funding Round: New York -based cryptocurrency brokerage and trading platform Tagomi Holdings raised $12 million in its latest funding round from investors including the Yale-backed Paradigm Fund, the company confirmed in a press release on Mar. 4. Tagomi, which now has total funding of $28 million after its launch in December 2018, also added cryptocurrency industry giant Pantera Capital to its rake of investors. The company offers Bitcoin ( BTC ), Ether ( ETH ) and other altcoin trading, along with products geared to institutional investors, like a portfolio management interface and API for programmatic trading. “We are excited to partner with investors who have experienced first-hand, the frustrations around the lack of infrastructure, and work toward our shared vision of building next generation robust trading technology, so that clients can focus solely on developing their strategies,” Greg Tusar, co-CEO of Tagom and former Goldman Sachs executive, commented in the press release. The crypto platform previously gained support from PayPal co-founder Peter Thiel , with Tagomi now aiming to ease market entry and exit for increasing numbers of investors. Speaking to Bloomberg in an interview on Monday, Tusar noted the complex process involved in launching and supporting the nascent market. He said: “I think one of the challenges for institutions has been you have to assemble all of the pieces yourself.” Earlier today, Cointelegraph reported on how New York Stock Exchange owner Intercontinental Exchange’s Bakkt platform had reportedly completed an equity deal with Starbucks , which will see the coffee giant contribute to the cryptocurrency platform’s merchant on-ramp. Related Articles: Investors in Overstock Crypto Subsidiary Reduce Investment from $404 Mln to $100 Mln Third-Top Exchange OKEx Lists Ripple and Bitcoin Cash on Customer-to-Customer Platform University of Michigan Endowment Ups Investment in Andreessen Horowitz Crypto Venture Fund Ex-Goldman Sachs Engineers Raise $3 Million to Combat Crypto Market Manipulation || Square (SQ) Surpasses Q4 Earnings and Revenue Estimates: Square Inc.SQ delivered fourth-quarter 2018 adjusted earnings of 14 cents per share, which beat the Zacks Consensus Estimate by 1 cent and also higher than management’s guided range of 12-13 cents per share. The figure also soared 85.7% on a year-over-year basis and came in line on a sequential basis.Net revenues of $932.53 million surpassed the Zacks Consensus Estimate of $908.21 million and also came ahead of the guided range of $895-$905 million. The figure increased 51.4% from the year-ago quarter and 5.7% on a sequential basis.Per the company, adjusted revenues came in $464.25 million, up 64.2% year over year and 7.7% from the previous quarter. The figure also comfortably outpaced management’s revised guided range of $446-$451 million.Positive contributions from the acquisitions of Weebly and Zesty continued to drive year-over-year top-line growth. Further, the company’s robust product lines contributed well during the reported quarter. Moreover, impressive gross payment volume (“GPV”) growth aided revenue generation in the reported quarter.Additionally, strengthening presence of Square in the bitcoin space and robust performance of subscription and services drove the results. Further, robust Cash App which experienced more than 15 million monthly active customers in December 2018 aided the results.Notably, shares of the company dropped 6.7% in the after-hours trade on Feb 27 following the issuance of weaker-than-expected first-quarter 2019 earnings guidance.Gross Payment VolumeGross Payment Volume in the reported quarter increased 28% year over year and 1.8% on a sequential basis to $22.9 billion, driven by growth in larger sellers.Square defines larger sellers as those that make more than $125,000 of annualized GPV and midmarket sellers as those that make more than $500,000 of annualized revenues.GPV from larger sellers contributed 51% to total GPV, up 39% year over year. This can be attributed to Square’s robust product portfolio and comprehensive ecosystem that helps the company in attracting new sellers to its platform and retaining the existing sellers as well.Additionally, robust performance of the company’s online payment products such as Invoices, Virtual Terminal and e-commerce API which aid sellers to serve buyers in a better way, contributed more than 10% to GPV growth.Further, the launch of Square Payroll along with employee benefits remained a major positive as it helped in acquiring new small sellers.Top-Line DetailsTransaction (71.6% of net revenues):The company generated transaction revenues of $667.8 million, up 27.3% year over year and 1.8% sequentially. Revenue growth within this category was driven by increasing average transactions per customer. Further, solid adoption of Cash App remained positive.Subscription and services (20.8% of revenues):The company generated $194.1 million revenues from this category, soaring 144.4% from the year-ago quarter and 16.8% on a sequential basis. This improvement came on the back of benefits from Weebly and Zesty buyouts. Further, strong performance of Cash Card, Caviar, Instant Deposit, Cash App and Square Capital also drove revenues of this category. Additionally, robust Square Capital which facilitated $472 million of business loans during the fourth quarter, increased 55% from the year-ago quarter.Hardware (2% of revenues):Square generated $18.2 million of revenues from this business, up 51.4% year over year and 4% sequentially. The top-line growth within this category was primarily driven by Square Register, Square Terminal and the company’s solid momentum with third-party peripherals.Bitcoin (5.6% of revenues):Square generated $52.4 million revenues from this category, advancing 22.1% from the previous quarter. The company made its foray in the bitcoin space in January 2018. Square continues to benefit in the bitcoin space on the back of growing momentum of Cash App among the users. Without bitcoin revenues, the company’s net revenues would have been $880 million and surging 43% year over year.Operating DetailsPer the company’s report, gross profit as a percentage of net revenues came in 40.8%, expanding 190 basis points (bps) year over year and 90 bps sequentially.Adjusted EBITDA margin was 17.5%, expanded 290 bps year over year and 150 bps on a sequential basis.Operating expenses came in $383.2 million, surging 51.6% from prior-year quarter and 5.7% from the previous quarter. Adjusted operating expenses were $304.4, up 52% year over year and 5.2% sequentially.Product development expenses were $142 million, up 53% year over year, primarily owing to growing engineering, data science and design personnel costs. Further, cost related to Weebly acquisition led to increase in these expenses.General and administrative expenses were $95 million, up 44% from prior-year quarter. This was primarily owing to finance, legal and support personnel costs.Further, sales and marketing costs were $119 million, up 55% year over year, due to increase in Cash App peer-to-peer payment transfer, advertising and personnel costs.Balance SheetAs of Dec 31, 2018, cash and cash equivalents balance was $583.2 million, down from $721.7 million as of Sep 30, 2018. Short-term investments were $540.9 million in the reported quarter, up from $448.9 million in the previous quarter.Long-term debt was $899.7 million, increasing slightly from $897.9 million in previous quarter.GuidanceFor first-quarter 2019, Square expects net revenues between $918 million and $938 million. The Zacks Consensus Estimate for revenues is pegged at $925.8 million.Further, adjusted revenues are anticipated in the range of $472-$482 million. Adjusted EBITDA is expected in the band of $47-$51 million.Adjusted earnings are expected in the range of 6-8 cents per share. The Zacks Consensus Estimate for earnings is pegged at 11 cents per share.For 2019, Square expects total revenues between $4.35 billion and $4.41 billion. The Zacks Consensus Estimate for net revenues is currently pegged at $4.39 billion.Further, the company expects adjusted revenues within the range of $2.22-$2.25 billion. Adjusted EBITDA is anticipated in the range of $405-$415 million.Adjusted earnings are projected in the range of 74-78 cents per share. The Zacks Consensus Estimate for earnings is currently pegged at 70 cents per share.Zacks Rank and Other Stocks to ConsiderSquare currently carries a Zacks Rank #2 (Buy).Some other top-ranked stocks in the broader technology sector are eGain Corporation EGAN, Alteryx, Inc. AYX and Agilent Technologies, Inc. A. While eGain sports a Zacks Rank #1 (Strong Buy), Alteryx and Agilent Technologies carry a Zacks Rank #2. You can seethe complete list of today’s Zacks #1 Rank stocks here.Long-term earnings growth rate for eGain, Alteryx and Agilent Technologies is currently pegged at 30%, 8% and 11.75%, respectively.Zacks' Top 10 Stocks for 2019In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-holds for the year?Who wouldn't? Our annual Top 10s have beaten the market with amazing regularity. In 2018, while the market dropped -5.2%, the portfolio scored well into double-digits overall with individual stocks rising as high as +61.5%. And from 2012-2017, while the market boomed +126.3, Zacks' Top 10s reached an even more sensational +181.9%.See Latest Stocks Today >>
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 reportSquare, Inc. (SQ) : Free Stock Analysis ReporteGain Corporation (EGAN) : Free Stock Analysis ReportAgilent Technologies, Inc. (A) : Free Stock Analysis ReportAlteryx, Inc. (AYX) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research || EUR/USD Monthly Forecast – March 2019: The price for EURUSD pair for the month of February was dovish as predicted in my previous monthly forecast. While the pair closed on a dovish note, the decline wasn’t as steep as expected owing to conflicting headlines that hit the market across the month. However, as expected the price action in the global forex market was highly dominated by the proceedings of geopolitical events. Sino-U.S. trade talks and Brexit proceedings had greater say in the overall price action despite there being other significant factors that helped set directional bias. Meanwhile, a look at the weekly chart shows that price action still remains trapped in wider rangebound price limits. The pair has over the course of the last five months been trapped in the price range of 1.12125 to 1.15679 within which the pair has been trading in a zig-zag pattern with multiple dead cat bounce scenarios which could have become a breakout had the attempt to breach been successful. The pair is seeing strong support and resistance around 1.12339 to the downside and 1.15140 to the upside within the wider price band mentioned earlier hindering a clear breakout in price action. As geopolitical events dictate the price momentum, a true breakout is likely to be achieved only when one of the two major events dominating the global market comes to end be it positive or negative.
A positive resolution of geopolitical events will lead to a boost in risk appetite and favor a price action that leads to an upside price movement of Euro and other major global currencies. On the other hand, a negative resolution will lead to the escalation of a trade war between two parties involved in talks and result in further economic slowdown causing US Greenback and other safe-haven assets such as precious metals and safe haven forex currency pairs to gain momentum in the global financial market. The first two weeks of February saw a steady decline in price action as caution ahead of key UK parliament session and a deadline approaching for Sino-U.S. trade talks influencing risk-averse trading activity. However, the UK parliament session saw key decisions expected to be addressed in the meeting postponed twice during the month and headlines hinting at unexpectedly favorable proceedings in trade talks between China and the U.S. and possible delay in the deadline for imposing the tariffs on Chinese goods. These factors led to improved risk appetite in the market, boosting EURO bulls influencing a recovery rally in the second half of the month. Aside from Sino-U.S. trade talks and Brexit headlines other factors that affected price action stem from ECB’s comments and actions.
News had hit the market that ECB was planning to initiate a TLTRO (Targeted Long Term Refinancing Operation) aimed at improving the European economy. This was viewed as a highly dovish signal as ECB just ended a long term Quantitative easing measure just last December. While ECB has kept the interest rates unchanged during the last monetary policy and various members acknowledged the fact that the European economy has suffered a slowdown and even downgraded the growth forecast for 2019, several members made clear that labor market and industrial activity still retains some level of strength in current market conditions. Therefore despite dovish signals owing to proceedings of Brexit and geopolitical issues such as the US trade war with China and the threat of imposing tariffs on the European auto market, ECB has decided to wait and observe market proceedings before making any major decisions relating to TLTRO implementation. The comments hinted that while ECB may prepare for TLTRO it is unlikely to be initiated anytime before the end of March or early April relieving immediate dovish pressure on EURO and supporting bulls on their positive price rally to some extent.
In the month ahead the early half of will focus on Sino-U.S. trade talk as US President Donald Trump gave contradicting comments in the last week of February. While he first tweeted trade talks were proceeding in a favorable direction, following the fall out between denuclearisation talks with North Korean leader Kim Jong Un, he is likely to go forward with plans to impose tariffs if US demands are not met by China. UK parliament is also yet to vote on no-deal Brexit and second Brexit referendum or delaying article 50 deadlines. The scenario from a fundamental perspective paints a dovish picture for price momentum in the month of March 2019. Unless deadlines are extended or positive resolution for is found in the days ahead, the market is likely to see rangebound price action with dovish bias. However, in case there is a fall out in trade talks between China & U.S.A. or the UK goes forward with no-deal Brexit, the pair is likely to see a sharp decline in price action with the price falling towards multi-year lows near the lower half of 1.11 handle last seen around May 2017. Investors will also be on the watch out for US tariff on the European auto market. Despite macro data outcome having high potential to influence directional bias as FY2018-19 comes to an end this month news driven momentum based on proceedings of geopolitical events will continue to dictate overall price momentum. When looking from a technical perspective, the pair faces strong supply near above mentioned price levels. But immediate directional bias is skewed to the downside. As the trading session opens for the first week of March 2019, the EURO is likely to continue declining unless the headlines changes the directional bias. Both RSI & Stochastic indicators are currently near mid-levels with signal lines pointing towards the oversold region in daily and weekly charts.
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Thisarticlewas originally posted on FX Empire
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• USD/CAD Daily Price Forecast – Upside Move Influenced By Upbeat US T.Yields || Chinese Crypto Whales Avoid Ban with Premium OTC Trading to Buy Bitcoin: According to CNLedger, a recognized source of China-related cryptocurrency news, the Chinese over-the-counter (OTC) market has revealed strong buys as of late, indicating an overall rise in demand for bitcoin.
After the Chinese government banned bitcoin and cryptocurrency trading in September 2017, local publications including SCMP have reported that a relatively large number of bitcoin investors still actively traded the asset, circumventing restrictions through VPNs, stablecoins, and OTC markets.
Based on official rates, currently, 1 USD is worth around 6.72 Chinese yuan (CNY).
On over-the-counter (OTC) trading platforms and Asia-based exchanges like Huobi, however, 1 USDT is being traded at around 7 CNY, with a 4 percent premium.
In China, due to the blanket ban imposed on cryptocurrency trading, the sole way for investors to buy or sell cryptocurrencies is either through peer-to-peer (P2P) or over-the-counter (OTC) markets.
Once investors acquire bitcoin or USDT through an OTC exchange, then investors can use VPN to trade on global cryptocurrency exchanges, engaging in crypto-to-crypto trades.
Read the full story on CCN.com.
[Random Sample of Social Media Buzz (last 60 days)]
Mar 01, 2019 17:32:00 UTC | 3,874.00$ | 3,405.70€ | 2,930.10£ | #Bitcoin #btc pic.twitter.com/55JUqZDWEU || Bitcoin Cash BCH Current Price:
$134.48
1 Hour: 0.29 % | 24 Hours: -3.00 % | 7 Days: -8.14 %
#bch #bitcoin cash || Bitcoin Cash BCH Current Price:
$150.12
1 Hour: 0.19 % | 24 Hours: 4.00 % | 7 Days: 22.50 %
#bch #bitcoin cash || 1 BTC = 15467.00000000 BRL em 20/03/2019 ás 10:00:02. #bitcoin #bitcoinbr #bitcoinexchangebr || 03/22 14:00現在
#Bitcoin : 440,380円↑
#NEM #XEM : 5.3802円↑
#Monacoin : 134円→
#Ethereum : 14,935円→
#Zaif : 0.158円↑ || Good project in this years.
#QuarkChain #QKC #Blockchain #BTC #ETH #blockchaintechnology #sharding https://t.co/cjBZqBl0Ot || SOLD [ #NANOBTC | #binance | Price: 0.00032060 | Time: 2019-04-10 01:42:22] Wallet: 0.83153482 | %: 0.010064 | Total: -0.74% | Total Won: -0.00622753 | B-S T: 00:06 | Uptime: 39:46 | HB | 6 | #BTC #NANO #trading #bitcoin || The largest exchange premiums & discounts seen by CrossCoinCo at 00:15 UTC: #BTC vs ZAR on Luno is trading at a 6.6% premium to USD markets; #ETH vs UAH on Exmo is trading at a 5.7% discount to USD markets. Visit: http://crosscoin.co || 2019/03/17 14:00
BTC 439200.5円
ETH 15232.3円
ETC 484.8円
BCH 16403.3円
XRP 34.9円
XEM 5.4円
LSK 164円
MONA 56.8円
#仮想通貨 #ビットコイン #Bitcoin #bitFlyer #Coincheck || $1,166,500 worth of #Bitcoin bought at $5,265.5 00:34:25.809Z 2019/04/09
| http://bit.ly/BitMexCheapFees | "Wait for the bounce, then short the corn"
|
Trend: up || Prices: 5464.87, 5210.52, 5279.35, 5268.29, 5285.14, 5247.35, 5350.73, 5402.70, 5505.28, 5768.29
|
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)]
Markets: Bitcoin price back above US$20,000, Ether jumps as U.K. votes to regulate crypto: Bitcoin was trading above US$20,000 for the first time in almost three weeks on Wednesday morning trading in Asia. Ether and the rest of the top 10 cryptocurrencies by market capitalization, excluding stablecoins, also gained after the U.K. parliament voted for crypto to be regulated as financial instruments. See related article: Top “UK Crypto Hub” proponent Rishi Sunak to become prime minister Fast facts Bitcoin gained 4% to US$20,091 in the 24 hours to 8:15 a.m. in Hong Kong, reaching a three-week high of US$20,348, according to data from CoinMarketCap . Ether jumped 8.8% to US$1,406, after earlier surging as high as US$1,562, or in line with levels before the network Merge in mid-September. This comes as the U.K.’s House of Commons, the lower house of Parliament, voted to regulate crypto assets as financial instruments on Tuesday as part of the proposed Financial Services and Markets Bill. The bill now goes to the House of Lords, the upper house, for a vote before becoming law. This comes as Rishi Sunak became the country’s new Prime Minister on Monday, and he has a record of comments supportive of cryptocurrency when he served as finance minister. Cardano saw the biggest gains in CoinMarketCap’s top 10, jumping 11.3% to US$0.40, after reaching a more than two-week high overnight of US$0.4142. Solana also saw significant gains, rising 8.9% to US$30.91, also hitting a two-week high earlier of US$32.19. BNB, the native token of the BNB Smart Chain – operated by the world’s largest cryptocurrency exchange, Binance – gained 3.8% to US$285, overtaking the world’s second-largest stablecoin Circle, to sit at fourth place on the list as it’s market cap breached US$45.6 billion. “Volatility in Crypto has been extremely low over the past two months compared to the NASDAQ and S&P suggesting that crypto is less reactive to macro pressures,” said Tracey Plowman, chief operating officer of Bamboo 61 Pty Ltd., an Australian company offering micro-investments in cryptocurrency. “As a result, we’re seeing strong buy side pressure in crypto, particularly for Ethereum demonstrating a potential shift in momentum. While this is a welcome reprieve, volatility is still expected in the medium term. “ U.S. equities were also up on Tuesday. The Dow Jones Industrial Average gained 1.1%, the S&P 500 Index rose 1.6% and the Nasdaq Composite Index added 2.3%. See related article: HNWI, family offices to drive crypto adoption across Asia: KPMG, Aspen Digital report || Markets: Bitcoin and Ether fall with crypto top 10 as Fed raises rates 75 bps: Bitcoin and Ether fell in Thursday morning trading in Asia along with all other top 10 cryptocurrencies by market capitalization, excluding stablecoins, as the U.S. Federal Reserve announced a fourth consecutive rate hike of 75 basis points on Wednesday. Leading memecoins Dogecoin and Shiba Inu token saw the heaviest losses after several days of significant gains following Elon Musk’s purchase of social media platform Twitter Inc.See related article:Litecoin anonymity update gets it booted from South Korean exchanges
• Bitcoin fell 1.5% to US$20,147 in the 24 hours to 8 a.m. in Hong Kong, while Ether fell 3.8% to US$1,517, according todata from CoinMarketCap. Solana saw significant losses, falling 4.8% to US$30.71, while Cardano dropped 4% to US$0.38.
• Shiba Inu token fell 7.8% to US$0.00001176, though was still trading up 8.8% over the past seven days, while Dogecoin fell 9.4% to US$0.12, though it was still up over 70% in the past week. Since purchasing Twitter, Elon Musk has tweeted pictures of shiba inu dogs — the breed of dog the Doge meme is based on — and has floated the idea of integrating Dogecoin as a payment method on the platform.
• Sitting outside CoinMarketCap’s list, Litecoin gained 10.1% to change hands at US$60.52 after reaching a six-week high of US$62.12 overnight. This follows payment services company MoneyGram International, Inc.announcing it was integratingBitcoin, Ethereum and Litecoin trading on its app.
• U.S. equities closed down on Wednesday. The Dow Jones Industrial Average fell 1.5%, the S&P 500 Index closed 2.5% lower and the Nasdaq Composite Index fell 3.4%.
• The Fed unanimously voted to raise its benchmark interest rate by 75 basis points in its November meeting on Wednesday, bringing the total rate to a 15-year high of 3.75% to 4%. In the press conference announcing the raise, Fed Chair Jerome Powell said it was “very premature to talk about a pause” in interest rate rises; however, he seemed to suggest a slowing from the current pace could be in store in the next few Federal Open Market Committee meetings.
• The Fed lifted interest rates from near zero in March to the current 3.25% as inflation reached a near 40-year high of 8.2% in September. The Fed has indicated it will continue this policy until inflation returns to a target range of 2%.
See related article:India’s finance minister urges G20 nations to come on board to regulate crypto || FTX’s FTT Token Crashes 78% in 24 Hours, Bitcoin Hits Yearly Low: FTT is hemorrhaging value, crashing 78% in the past 24 hours from roughly $22 to $4.87, according todatafrom CoinGecko.
The FTX token reached a low of $3.12 Tuesday before rising slightly to above four dollars and then back to roughly $5.48 at time of writing. FTT is down nearly 93% from its all-time high of $84 in September of last year.
Bitcoin, the largest cryptocurrency by market cap, isn’t doing too well either. BTC is down nearly 10% in the past day, hitting a new yearly low of $17,579, per CoinGeckodata.
BTC has fallen 73% from its all-time high of just over $69,000 in November 2021. BTC previously fell below the $18,000 mark earlier this year,slipping to $17,772back in June.
The plummeting price of FTT comes as both Binance CEO Changpeng “CZ” Zhao and FTX CEO Sam Bankman-Fried confirmed Tuesday that Binance would acquire FTX as the latter faced a “significant liquidity crunch.”
Just days ago, CZ shared that he was selling all of Binance’s holdings of FTT, worth at least$500 million.
“Due to recent revelations that have came to light, we have decided toliquidateany remaining FTT on our books,” CZ said Sunday, without disclosing exactly what the “revelations” were.
“We will try to do so in a way that minimizes market impact. Due to market conditions and limited liquidity, we expect this will take a few months to complete,” he added.
FTX Exchange's Token FTT Plummets Below $22 as Binance-Led Selling Continues
Despite CZ’s expressed desire to minimize the impact of Binance’s FTT selloff, it’s still likely this initial announcement affected the price action of FTT. CZ denies causing any of FTX’s financial turmoil.
“There were also conspiracy theories that I somehow orchestrated this whole thing,” he wrote on Twitter Monday of FTX’s recent troubles. “If you read this thread, you would appreciate that no one can orchestrate this.”
CZ later provided a bit more context on why Binance was selling its FTT,callingit “post-exit risk management.”
He also said that he “won’t support people who lobby against other industry players behind their backs.” Such a statement could be a reference to Bankman-Fried, who is known for being a crypto advocate in Washington D.C. SBF’s Alameda Researchdonated$6.2 million to Biden’s prior campaign, and FTX.US donated$5.2 million.
It’s worth noting that Binance and FTX’s U.S. counterparts do not yet appear to be involved in the acquisition deal as Binance plans to take on FTX’s international arm. || Knowing When To Take Your Foot Off The Gas — Things To Keep In Mind In A Bear Market: Melbourne, Australia --News Direct-- Caleb & Brown This educational guide exploring How To Protect Crypto Assets in a Bear Market was created in conjunction with Caleb & Brown. Caleb & Brown is the world’s leading cryptocurrency brokerage. Learn more here . For many inexperienced investors, the transition between the 2021 bull market and the 2022 bear market may have had dramatic effects on their portfolios. The simple reason is that both equities and cryptocurrencies do not behave the same way in a bull market as they do in a bear market. This seems like such a common sense conclusion that it’s barely worth stating, but, for those who have never experienced both ends of the market spectrum, it’s worth repeating. Investing in a bull market is like swimming with the tide. Guided by the strength of the current, your strokes lead you to your intended destination with ease. Investing in the 2021 bull market was more like swimming in the direction of a tsunami: A purchase of Bitcoin (BTC) Ethereum (ETH) and Solana (CRYPTO: SOL) made on Jan. 1, 2021, resulted in 120%, 227% and 1,350% returns, respectively, by April 15 of the same year. Imagine the psychological conditioning one developed as a new crypto investor in 2021. The values that have been proven to be wealth generators in the market — discipline, patience, risk management and knowledge — were all seemingly tossed out of the window. Abandoning these prudent principles may be covered up in a bull market, but in bear markets, they shine like diamonds in a field of coal. As discussed in a previous post, bear markets may provide the opportunity for bargain-picking certain assets, both traditional and digital, but they must be approached differently to bull markets. Here’s how to stay on the right course. Know Thyself First on the Bear Market Survival Guide is self-reflection. No one can tell you what kind of drop in your portfolio you can handle, or what your relationship to risk is. Investors sit on different ends of the risk-tolerance spectrum, and it’s your obligation to know where you lie. This is particularly important in bear markets, as portfolios decline and paper losses materialize. Knowing your personal risk tolerance helps you avoid catastrophic behavioral impulses like panic selling or, on the other end of the spectrum, aggressive buying. Consider the following examples as reflections of the catastrophic nature of both behaviors: As discussed in a previous article, panic selling an investment in the SPDR S&P 500 ETF (NYSEARCA: SPY) at the end of 2009 would have yielded a 57% loss on an investor’s portfolio (assuming they had made their purchase at 2007’s top). If held until the peak of 2022, this loss would’ve been a 450% gain. Starting at $100,000, panic selling in 2009 would have yielded a portfolio value of $43,000, while holding until 2022 would have yielded a portfolio value of $450,000. Similarly, aggressively buying risky crypto coins like Shiba Inu (CRYPTO: SHIB) in February 2022 would have yielded a nearly 80% drop in value by June. In four months, a $100,000 investment would have dropped to $20,000. Story continues Aggressively buying risky investments may have yielded spectacular results in the midst of a bull market, but in a bear market, it could mark the end of your investing career. The first step to preventing that outcome is knowing your risk tolerance. The second is considering that you are in a bear market and that behaviors that worked before may not work now. Let The Professionals Guide You Self-awareness and self-control are keys to success in the investing field, but that doesn’t mean you have to develop these skills on your own. By enlisting help from experienced professionals, traders can shorten the learning curve required to adopt a psychological edge in the market. For Caleb & Brown , providing investors with the tools and knowledge to make sound decisions in bear markets is a fundamental business pursuit. As the world’s leading cryptocurrency brokerage, Caleb & Brown offers personalized broking services to each of its crypto investors, covering all matters of questions and concerns through its communication efforts. With Caleb & Brown , investors can expect open conversations with their brokers whenever and wherever they’re needed. Caleb & Brown has helped over 20,000 investors avoid catastrophic losses and prepare for future bull markets. Click here to learn more about how you could be next. Interested in learning more about the best way to survive a bear market? Check out the previous article in this series here . We help our clients buy, sell, swap, and safely store cryptocurrencies, with a 24/7 personal broker service. Our clients can reach their personal broker on the phone and email at any time. Our clients range from beginners needing assistance to buy their first cryptocurrency, to seasoned investors needing a professional service to make high value, complex trades. We put personalised service, education, and consumer protection at the heart of everything we do. We were founded back in 2016 and we now have over 21,000 clients in more than 100 countries, serviced by 76 staff based in our offices in Melbourne, Sydney and London. This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice. Contact Details Chris Nedelkos [email protected] Company Website https://calebandbrown.com/ View source version on newsdirect.com: https://newsdirect.com/news/knowing-when-to-take-your-foot-off-the-gas-things-to-keep-in-mind-in-a-bear-market-695629941 View comments || Sony Jumps After Hiking Outlook and PlayStation Expectations: (Bloomberg) -- Sony Group Corp. shares had their biggest surge in seven months after the company said PlayStation 5 production went better than expected in the past quarter and it now aims to surpass its sales target for the fiscal year. Most Read from Bloomberg Twitter Now Asks Some Fired Workers to Please Come Back Elon Musk Tells Twitter Followers to Vote for a Republican Congress Elon Musk Walks Back on Twitter Job Cuts, Blue Checks in Second Week Billions in Capital Calls Threaten to Wreak Havoc on Global Stocks, Bonds Houston Moguls $75 Million Win on Astros Hits Caesars Hardest The Tokyo-based conglomerate also bumped its full-year operating profit forecast by 5%, largely on the weakness of the yen. It reported sales of 2.75 trillion yen ($18.6 billion) in the three months ended September, 16% higher than the prior year, after getting a boost from its music streaming division. The company is now gearing up to beat its goal of 18 million PS5 sales this fiscal year and set a target of 23 million units for the next. Shares were up 7% in Tokyo on Wednesday after slumping more than 30% this year prior to its latest earnings report. Sonys results proved better than feared, as the companys various businesses are dependent on strong consumer demand, which has dissipated this year with a global economic downturn and potential recession on the horizon. Chief Financial Officer Hiroki Totoki said the games business was feeling the compound effects of cooler consumer appetites and the worldwide reopening after the pandemic, with both factors pushing people away from games and other leisure spending. Still, the company said its seeing strong user engagement with newer games on the PlayStation platform and sounded a positive note about the release of its next God of War game, scheduled for next week, as a catalyst for more sales. It assembled 6.5 million PS5s in the past quarter, which was a faster production pace than expected, Totoki said. Story continues Considering the PlayStation did not see a single big game in the quarter, numbers were surprisingly stable, said industry analyst Serkan Toto of Kantan Games. Video games are a hit-driven business. Sony did relatively well despite not having any blockbusters to drive growth this quarter. Sony Bumps Up Profit Outlook as Weak Yen Juices Sensor Sales The image sensor business was aided by the fall in the yens value -- as much of the production is done in Japan and shipped overseas -- in a year when smartphone sales have slumped globally and especially in China, the worlds biggest mobile market. Sony said its seeing resilient demand for premium devices, which use more cameras and require more sensors per unit sold. This announcement dispels excessive concerns to some extent, as the dominant market view lately was that the firm would cut guidance again on concern over a slowdown in high-end models at a major North American smartphone maker, SMBC Nikko analysts Ryosuke Katsura and Hajime Ono wrote. A recovery in investor sentiment would hinge primarily on growth in the games division over the holiday period and beyond, they added. (Updates with closing share price) Most Read from Bloomberg Businessweek Seizing a Russian Superyacht Is Much More Complicated Than You Think Small Businesses Find a Loophole in the New Tax Law: Zelle El Salvadors $300 Million Bitcoin Revolution Is Failing Miserably Inflation-Focused Voters Defy Bidens Bid to Change the Subject Adobe Is Trying to Spend $20 Billion to Buy Back Its Swagger ©2022 Bloomberg L.P. || Crypto Investment Product Firm 21Shares Launches Bitcoin ETP in Middle East: Crypto investment product firm 21Shares has launched a physical bitcoin exchange-traded-product (ETP) in the Middle East that is set to be listed on the Nasdaq Dubai. 21Shares has continued to expand globally, and its newly formed parent company recently raised $25 million at a $2 billion valuation . The firm now offers over 46 products listed across 12 exchanges in seven different countries. “The UAE, and broader [Gulf Cooperation Council], is a market of significant strategic importance to our business, and we are excited about the opportunity this market opens to us,” Sherif El-Haddad, who joined the firm in August as Middle East head, said in a statement. Last year, Canadian digital-asset manager 3iQ’s bitcoin exchange-traded fund (ETF) began trading on Nasdaq Dubai. At the time, 3iQ's ETF was the first cryptocurrency fund to start trading in the Middle East. Dubai has major plans for its digital economy. Its Dubai Metaverse Strategy, which launched recently, aims to attract more than 1,000 blockchain and metaverse companies to the city as well as support more than 40,000 virtual jobs by 2030. Last month, crypto exchange Binance secured a license from Dubai's Virtual Asset Regulatory Authority to offer a range of crypto-related services in the city. Read more: Dubai Unveils Metaverse Strategy, Aims to Attract Over 1,000 Firms || South Korea seizes US$184 mln in crypto towards unpaid taxes: Cryptocurrency assets seized from alleged tax delinquents in South Korea in 2021 and 2022 amounted to nearly 260 billion Korean won (US$184.3 million),according to local media reports.
See related article:South Korea’s taxman keeps circling crypto – airdrops look to be the next target
• The highest amount of crypto seized from a single delinquent taxpayer was close to 12.5 billion won, or US$8.87 million. The individual had reportedly owned Bitcoin and Ripple among 20 cryptocurrencies.
• South Korean tax authorities started collecting unpaid taxes by seizing cryptocurrencies last year after introducing the measure in 2020.
• Authorities seize a tax delinquent’s account or crypto assets after getting data from exchanges. If the tax bill remains unpaid, the crypto assets are sold at market price.
• The data was aggregated by Kim Sang-hoon, a lawmaker from South Korea’s right-wing People Power Party and a member of the National Assembly’s Strategy and Finance Committee, from figures provided by the finance ministry and other government agencies.
See related article:S. Korea’s 20% crypto tax delayed by two more years || Dollar takes a breather even as rate worries dent risk appetites: By Sinéad Carew and Alun John NEW YORK/LONDON (Reuters) - The dollar made little progress in a choppy session on Tuesday while appetites for riskier bets were still weak as Federal Reserve policymakers talked about more interest rate hikes. The greenback was up against the euro but losing ground against the British pound and Japan's yen with all eyes on central banks and the impact on economic growth from their efforts to tame inflation. Sterling, after earlier climbing more than 1% to $1.0837, was last up 0.3%. It had plunged to a record low on Monday. The euro was down 0.20% against the dollar at $0.96, and the dollar up 0.1% against the yen at 144.86. It didn't help that Wall Street indexes were also having a volatile session. [.N] Minneapolis Federal Reserve Bank President Neel Kashkari said in a WSJ Live interview Tuesday that the Fed needs to keep tightening until it has evidence underlying inflation is heading down, then should pause and "let the tightening work its way through the economy" to see if it has done enough. Earlier, Bank of England (BoE) Chief Economist Huw Pill said the BoE is likely to deliver a "significant policy response" to last week's tax cut announcement but should wait until its next meeting in November. "There has been no letting up by central banks despite the financial market disruption we've seen. Markets had been looking for some kind of rescue and it's not coming, from the BoE or from the Fed. That makes the dollar still a very compelling safe haven," said Mazen Issa, senior FX strategist at TD Securities in New York. And the week's trading involves "a bit of additional noise" as investors also prepare their portfolios for the quarter end, according to Issa. Tuesday's moves were mild compared with the dollar's significant recent gains. The euro was still not far above its more than 20-year trough hit a day earlier, and the yen was just off its 24-year low hit last week before Japanese authorities intervened to strengthen the currency. Story continues Also, sterling was not too far above its record low of $1.0327 hit Monday in a plunge that began Friday when markets were spooked by Britain's proposed budget which would rely on unfunded tax cuts to spur growth. England's central bank had said on Monday that it would not hesitate to change rates and was monitoring markets "very closely," leading some market participants to look for a rate hike between meetings. The Aussie was last down 0.5% at $0.64 while New Zealand's kiwi was down 0.0% at $0.56. [AUD/] Bitcoin was last down 0.6% at $19,118 after earlier trading above $20,000. (Reporting by Sinéad Carew, Alun John, Tom Westbrook; Editing by Mark Potter, Nick Zieminski and Jonathan Oatis) || Crypto Mining Firm BitNile to Start Bitcoin-Based Marketplace Next Year: Bitcoin mining firm BitNile (NILE) plans to set up a bitcoin-based marketplace in the first half of next year aiming to reduce the complexity of conducting transactions in bitcoin.
BitNile intends for the marketplace to be a multi-vendor e-commerce platform, available on a mobile phone or web application that can provide multiple services including payment processing,according to an announcement on Thursday.
The Last Vegas-based firm is seeking to make using bitcoin for transactions more attractive both by making it convenient and by offering lower transaction fees than those in traditional e-commerce.
BitNile may also be looking to diversify its business away from bitcoin mining, given the squeeze on margins the industry has experienced in recent months with bitcoin's depressed price and high energy costs.
The grim outlook was compounded further earlier this week when the Bitcoin network's mining difficultysurged to an all-time high, meaning it has never been harder for miners to extract new bitcoin.
Read more:Bitcoin Miner Crusoe Energy Buys Fellow Flared-Gas Operator GAM || Cryptoverse: Bitcoin miners get stuck in a bear pit: By Medha Singh and Lisa Pauline Mattackal
(Reuters) - Spare a thought for the beleaguered bitcoin miner.
In late 2021, miners were the toast of the town with a surefire path to profit: hook powerful computers up to cheap power, crack fiendishly complex maths puzzles and then sell newly minted coins on the booming market.
A year's a long time in crypto.
Global revenue from bitcoin mining has dropped to $17.2 million a day amid a crypto winter and global energy crisis, down about 72% from last November when miners were racking up $62 million a day, according to data from Blockchain.com.
"Bitcoin miners have continued to watch margins compress - the price of bitcoin has fallen, mining difficulty has risen and energy prices have soared," said Joe Burnett, head analyst at Blockware Solutions.
That's put serious pressure on some players who bought expensive mining machines, or rigs, banking on rising bitcoin prices to recoup their investment.
Bitcoin is trading at around $19,000 and has failed to break above $25,000 since August, let alone regain November's all-time high of $69,000.
At the same time, the process of solving puzzles to mine tokens has become more difficult as more miners have come online. This means they must devour more computing power, further upping operating costs, especially for those without long-term power pricing agreements.
Bitcoin miners' profit for one terahash per second of computing power has fluctuated between $0.119 and $0.070 a day since July, down from $0.45 in November last year and around its lowest levels for two years.
The grim state of affairs could be here to stay, too: Luxor's Hashrate Index, which measures mining revenue potential, has fallen almost 70% so far this year.
2140: THE LAST BITCOIN
It's been painful for miners.
Shares of Marathon Digital, Riot Blockchain and Valkyrie Bitcoin Miners ETF have sunk more than 60% this year, for example, while crypto-mining data center operator Compute North filed for bankruptcy last week.
Yet mining is ultimately a long-term proposition - the last bitcoin is expected be mined in 2140, more than a century away - and some spy opportunity in the gloom.
"The best time to get in is when market's low, the same mining rigs that went for $10,000 earlier this year you can get that for 50% to 75% off right now," said William Szamosszegi, CEO of Sazmining Inc which is planning to open a renewable-energy powered bitcoin mining operation.
Indeed, many miners are cutting back on buying rigs, forcing makers to cut prices.
For instance, the popular S19J Pro rig sold for $10,100 in January on average, but now sells for $3,200, analysts at Luxor said, also noting prices for bulk orders of some mining machines had fallen by 10% in just the past week.
Chris Kline, co-founder of crypto investment platform Bitcoin IRA, said miners would have to be "hyper-focused" on energy efficiency, both to bring costs down and to avoid any repercussions from climate change-related regulations.
"From managing their balance sheet, processing units and energy costs, miners will look to stay afloat regardless of current market conditions," he added.
(Reporting by Lisa Pauline Mattackal and Medha Singh in Bengaluru; Editing by Tom Wilson and Pravin Char)
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: no change || Prices: 16618.20, 16884.61, 16669.44, 16687.52, 16697.78, 16711.55, 16291.83, 15787.28, 16189.77, 16610.71
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
PayPal Originally Aimed to Create Global Currency Similar to Crypto, Co-Founder Admits: PayPal’s co-founder Luke Nosek has said that his firm initially wanted to create a digital currency that would be independent from banks and governments , similar to crypto . The video of his comments was uploaded to crypto streaming service Bloxlive.Tv on Thursday, Jan. 31. At a panel at the World Economic Forum in Davos, Switzerland last week, Nosek was asked whether PayPal or WeChat Pay, an in-app payment system used by the major Chinese messenger, have already solved various problems related to online transactions, or whether cryptocurrencies can also solve those problems. Responding to that question, PayPal’s co-founder said: “Many people don’t know this, but the initial mission of PayPal was to create a global currency that was independent of interference by these, you know, corrupt cartels of banks and governments that were debasing their currencies.” The company succeeded building something economically very powerful, he continued. However, PayPal never achieved its initial goal and became too centralized, too attached to the biggest financial institutions, such as Visa , Mastercard and SWIFT , Nosek underlined. PayPal is obliged to do whatever it needs to do to keep those institutions happy, Nosek said. “We’ve learnt to play,” he added. Nosek, who is also a board member at SpaceX and a friend of another PayPal co-founder, Elon Musk, regrets that he and Musk did not have enough time to develop something that would be closer to the concept of a decentralized cryptocurrency. Their failure to do so was because they were pressured by investors to roll out the product as soon as possible, Nosek said. Finally, Nosek noted that he is grateful to Bitcoin and Ethereum developers for creating their own ecosystems and not pushing their adoption prematurely, adding that he hopes they will never have the same pressure from investors as PayPal did. PayPal, a payment system whose active number of users has surpassed 254 million in Q3 2018, has recently launched a blockchain-based reward system for its employees. PayPal employees are granted tokens for participating in innovation-related programs and contributing ideas, and can exchange them for over 100 “experiences” within the company. Related Articles: Crypto Payment Processor CoinGate Adds Support for Ripple’s XRP Germany's 2nd Largest Stock Exchange Boerse Stuttgart Launches Crypto Trading App Pantera Capital, Coinbase Back Crypto Startup Staked in $4.5 Million Round Coincheck Q3 Finance Report Shows Twofold Improvement Since Trading Resumed || Lightning Torch’s Bitcoin Payment Is Running a Worldwide Marathon: A lightning network payment has been making global rounds on Bitcoin’s secondary layer. The payment, slowly accumulating in value with each passing, is 2.8 ($96) million satoshis strong and still going. Dubbed the Lightning Torch, the payment has changed hands nearly 150 times across 38 countries. Since this article was published, it's even been to space after SatoshiLabs/Trezor CTO Pavol Rusnak broadcast an invoice throughBlockstream's satellite networkto pick up the torch from Blockstream CSO Samson Mow.
Traditionally, participants announce their ownership over Twitter to seek out the next recipient. Hopeful torch bearers respond to the tweets with a lightning network invoice, and after choosing a user to trust, the current holder adds a discretionary amount to the payment’s sum and sends it to the next holder.
The experiment has been making an impression on the community; so far, Andreas Antonopoulos has been in on it, and most recently, at the time of this writing, Twitter co-founder Jack Dorsey even took up the flame from Matt Odell.
The phenomenon is an exercise in restraint, trust and altruism that personifies Bitcoin’s complicated relationship between trusted and trusteless operations and parties. In this way, it’s fitting. The remarkable origin of the initiative is equally as unconventional as its carrythrough: it all arose from the curiosity and educationally incentivized agency of an anonymous Twitter personality masquerading as an astronautical feline.
Hodlonaut, a self-described “hodl enthusiast” who has been “fulltime bitcoin” since the middle of 2018, is represented by a space-suit-clad tomcat. Superimposed in front of a lunar backdrop, the tomcat’s expression and soft smile signal optimism. His suit is stitched with a BTC logo on the shoulder and NO2X (No Segwit 2X) and UASF (user-activated soft fork) acronyms on his right chest.
The diehard Bitcoin maximalist has been involved with Bitcoin since early 2013, and he’s racked up a respectable following on Twitter. He’s used this platform to ponder Bitcoin philosophy and evangelize like most of Crypto Twitter. But he’s also used it as a chance to put his ideas into action, most recently with the Lightning Torch initiative.
Speaking toBitcoin Magazine,hodlonaut reflected on the experiment.
“It’s been interesting to see reactions from some parts of the community. Some scowled at this from the beginning because it was based on community trust,” instead of the same baked-into-the-code trust that inspires mantras like “Don’t trust; verify.”
Hodlonaut is more interested in actions than mantras, so he started testing out whether or not you could trust the community to hold itself accountable — if community overwatch could make a trust-dependent act trustless in its own way. The experiment began with a giveaway on Twitter, where hodlonaut said he would send satoshis through the lightning network to anyone who replied to his thread. 250 people replied, and good to his word, hodolonaut said he “brushed up on his typing skills and sent everyone some sats.”
This altruism was stoked by the excitement hodlonaut felt when he first bootstrapped his raspberry pi to run lightning.
“Transacting with lightning network is the exact same excitement I had with bitcoin when I first discovered it.”
He wanted to spread his excitement through the community, so he took the giveaway a little further. On January 19, he made the “spur-of-the-moment” decision to send 100k satoshis ($3.40 USD) to a randomly selected stranger who replied to the new giveaway.
“This thing,” as he called the idea behind the experiment, “just fell into my head. I had no ambitions and I just threw it out there.”
He may have haphazardly thrown it out, but the community very intentionally caught and carried it on. Hodlonaut’s impulsive act of experimentation has developed into a full-fledged social experiment and movement. After reaching its first bearer, the transnational torch has been routed through each continent (save Antarctica, which would be too impressive) and 39 countries, including the bulk of the EU. Despite its creator initially believing that it “would go 4, 5, 6 hops and someone would take it and no one would [care],” the torch has passed between 139 unique users 149 times.
Total capacity is up to 2.2 bitcoin, and hodlonaut is optimistic that it will reach the lightning network’s ~4.3 million satoshi limit before the experiment terminates, at which point, he intends to ask the final bearer to donate the funds to BTC Venezuela, a cryptocurrency charity.
The flame, while still well fed and protected, has met trouble during its marathon across the world.
On two separate occasions, users have treated the torch as a personal boon rather than a community exercise, confirming hodlonaut’s fears that greed may put the torch out. These opportunists have claimed the funds for themselves, refusing to conform to the precedence of passing it along. Their attempts to snuff out the flame, however, have only made it stronger and emboldened the community’s resolve.
The first time, a few days in, the torch was lit with 250k satoshis ($8.60 USD), when one recipient took it for themselves. To salvage the situation, the sender decided to relight the torch with their own funds and resend it to a more trustworthy user. The same story happened the second go-around at 2.51 million satoshis ($86 USD). This time, the taker justified his actions with a tweet that read, “I’ll seize it because I can, and no one can stop me,” which hodlonaut interpreted as meaning that you shouldn’t trust anything but code.
Luckily, Klaus Lovgreen, the person who sent it to this opportunist, followed the example set the first time the torch was threatened and paid the loss out of pocket, sending it to a new user. His “good deed turned out to be profitable,” hodlonaut said, after he directed users to Lovgreen’s tippin.me page to compensate him for his good will.
The torch has survived two potential roadblocks and has grown out of hodlonaut’s influence. But that’s just the way he’d like to have it, even when the torch was on the verge of being extinguished.
“I wouldn’t have restarted it because I think this needs to be organic.”
The organic nature of the initiative and the community’s willingness to sacrifice personal funds to keep it going have made the experiment in community trust a success. Hodlonaut said that this shows both an increasing interest in lightning and the resolve of a community sparked by an exciting new technology, even in the harsh market climate.
“A lot of people have been onboarded to lightning. Personally, this is the most community feeling I’ve felt with bitcoin for a long time. There are so many people out there who are willing to educate each other and help people,” he said, expressing that lightning is important for community morale in times of a bear market.
You can track the torch’s race to the lightning network caphere. If it makes it to the end, a handful of anonymous donors have said that they will match the final amount (just shy of $150 USD) to be donated to BTC Venezuela. If you are interested in donating to BTC Venezuela or matching the donation as well, please consult the charity’swebsiteor reach out tohodlonaut on Twitter.
This article has been updated to reflect new movements of the torch.
This article originally appeared onBitcoin Magazine. || Bitcoin Will Soon See ‘Bull Cross’ in First Since August 2018: • Bitcoin’s 50-day moving price average could soon move above the 100-day moving average, confirming its first bullish crossover in seven months.
• While the bullish crossover is a lagging indicator, the current slope of the MAs is signaling bearish exhaustion. So, bitcoin could rise toward $4,236 (Dec. 24 high) in the near future, assuggestedby other longer duration indicators and the bullish candlecreatedon Feb. 27.
• The bullish case would weaken if prices find acceptance below $3,658 (Feb. 27 low).
A widely-followed bitcoin (BTC) price indicator is about to turn bullish for the first time in seven months.
Bitcoin’s 50-day moving average (MA) â currently located at $3,669, according to Bitstamp data â could soon move above the 100-day MA at $3,670. The event would confirm the average’s first bullish crossover since the end of August 2018.
However, the bull cross is a lagging indicator, being based on past data, and in this instance is likely more a product of bitcoinâs recovery rally from lows near $3,100 seen in December.
A Bitcoin Bull Market Is Still $350 Away
That said, with several key indicators, like the weekly moving average convergence divergence (MACD) and the money flow index flashing early signs of bullish reversal, the probability of the cross trapping the bulls on the wrong side of the market seems low.
As of writing, BTC is changing hands at $3,860, having clocked a low of $3,791 earlier today.
As seen above, the 50-day MA is taking an upward turn and is about to cross the 100-day MA from below.
Bitcoin Struggles to Pass Price Hurdle But Bull Outlook Intact
Further, BTC’s repeated defense of the 100-day MA over the last 12 days has strengthened the bullish case put forward by the long-tailed doji candle created on Feb. 27.
As a result, BTC could soon rise toward the inverse head-and-shoulders neckline resistance, currently located just below thebearish lower highof $4,236 printed on Dec. 24.
A UTC close higher would confirm a bearish-to-bullish trend change and could yield a rally to $5,000.
On the weekly chart, the 5- and 10-candle MAs produced a bullish crossover two weeks ago. BTC also defended the 10-candle MA in the previous two weeks, reinforcing the bullish reversal signaled by the MA studies.
In the near-term, BTC looks likely to challenge the recent high of $4,190.
Disclosure: The author holds no cryptocurrency assets at the time of writing.
Bitcoin image via Shutterstock;Âcharts byÂTrading View
• Three Price Resistance Levels to Beat for Bitcoin’s Bulls
• Bitcoin Eyes $4K After Erasing Monday’s Price Losses || Crypto Tumble as Market Cap Loses $12 Billion: Investing.com - Top cryptocurrencies saw their values suddenly tumble on Monday in Asia, recording double-digit losses after they seemingly picked up momentum last week. Market capitalisation shed $12 billion over the weekend. Bitcoin lost 9.23% to $3,819.5 by 12:21 AM ET (5:21 GMT). Ethereum plunged 17.44% to $139.79, XRP dived 12.15% to $0.30308, and Litecoin dropped 17.08% to $44.911. The crypto market cap dropped sharply from $141 billion last Saturday to $129 billion on Monday. But the market tumble has not deterred Japanese corporations from tapping into the crypto space. On Monday, Japanese financial giant Mizuho was said to be launching its new digital token J-Coin to offer cashless transactions. The firm is now reportedly working with around 60 financial partners to launch the digital token that will link existing bank accounts to new J-Coin wallets. Users will be able to make payments with their smartphones. Japanese news outlet Nikkei Asian Review said the platform is to launch on Friday. While Japan is keen to spearhead its crypto development, Korean regulators are still looking for cues from the U.S. about whether it plans to take further actions to regulate crypto assets. Speaking to The Korea Herald on condition of anonymity last week, an official of Korea Exchange said the bourse will see if U.S. regulators will greenlight Bitcoin exchange-traded funds (ETFs). “The U.S. has been the front-runner on the cryptocurrency market and related derivatives, and there are strong voices supporting the launch of Bitcoin ETFs within the market — which is why we are observing the progress and response of the U.S. [SEC]’s decision on Bitcoin ETFs,” the official said. The Korean bourse is looking into the feasibility of a Bitcoin index. The official was quoted saying that such ETFs “would eventually concern investor protection issues.” In other news, Russian financial outlet Rambler reported that the Russian State Duma is going to review and adopt new crypto regulations next month. The country ’s former Energy Minister Igor Yusufov also proposed an oil-backed digital token. Story continues “Perhaps the oil-backed cryptocurrency will be the pioneering project that will create a reliable structure for the cryptographic market as a whole,” Yusufov told Rambler. Related Articles Crypto Up Despite Calls for Regulations Bitcoin Rises; Swiss Bank Julius Baer Enters Crypto Market Crypto Down; Nasdaq Adds Bitcoin and Ethereum Indices || Bitcoin Only: Square CEO Jack Dorsey Doesnt Care for Other Cryptocurrencies on Popular Cash App: Square and Twitter CEO Jack Dorsey has made it very clear that Square will only support Bitcoin (BTC) in the foreseeable future. On February 6, in response to some members of the cryptocurrency community inquiring about potential Square integrations, Dorsey said: Nah jack (@jack) February 5, 2019 He also expressed his enthusiasm towards the Lightning Network, a second-layer scalability solution that enables instantaneous payments on Bitcoin. Read the full story on CCN.com . || Microchip (MCHP) to Report Q3 Earnings: What's in Store?: Microchip Technology Incorporated MCHP is scheduled to release third-quarter fiscal 2019 results on Feb 5. The company has outpaced the Zacks Consensus Estimate in the trailing four quarters, recording average positive surprise of 4.13%. In the last reported quarter, the company delivered non-GAAP earnings of $1.81 per share that surpassed the Zacks Consensus Estimate by 7 cents. The figure also jumped 28.4% on a year-over-year basis. The year-over-year upside was driven by higher net sales, which increased 49.5% from the year-ago quarter to $1.513 billion on a non-GAAP basis. The figure comfortably beat the Zacks Consensus Estimate of$1.512 billion. Guidance & Estimates Microchip forecasts third-quarter fiscal 2019 net sales of $1.362-$1.438 billion (mid-point $1.4 billion). The Zacks Consensus Estimate for the same is pegged at $1.402 billion, reflecting year-over-year growth of almost 41%. For the fiscal third quarter, non-GAAP earnings are anticipated in the range of $1.49-$1.64 per share. The Zacks Consensus Estimate for earnings is pegged at $1.57 per share, indicating year-over-year growth of 15.4%. Let's see how things are shaping up for this announcement. Factors to Consider Strength in Microcontroller Business & Expanding Portfolio Microchip’s microcontroller business (54.3% of second-quarter sales) continues to outperform the industry and has enabled it to gain significant market share. In the second quarter, segment revenues (GAAP) increased 17% year over year to $778.4 million. Portfolio expansion across majority of the operating domains bode well. Notably, Microchip is now focusing on improving driving experience to strengthen its position in producing autonomous vehicle controllers. In fact, the company unveiled cost-effective three-dimensional (3D) gesture recognition controller, MGC3140, which offers a robust single-chip solution for sophisticated automotive HMI designs. The new solution is aimed at reducing driver distractions, in turn enhancing the in-car capability of the drivers. Robust adoption of company’s low power PolarFire solutions is a positive. Recently, Microchip also announced availability of MPLAB X Integrated Development Environment (IDE) version 5.05, that support AVR family of the company’s MCUs. The company added two new devices, ATtiny3217 and ATtiny3216, with highly developed analog features to its tiny AVR MCU series. These are aimed at developing highly responsive sensor nodes. The new solutions are anticipated to generate incremental revenues, consequently favoring the top line. Notably, the Zacks Consensus Estimate for microcontroller revenues is pegged at $737 million for the third quarter. Story continues Microchip Technology Incorporated Price and EPS Surprise Microchip Technology Incorporated Price and EPS Surprise | Microchip Technology Incorporated Quote Acquisitions & Collaborations: Key Growth Drivers Acquisitions like Microsemi, SMSC, ISSC, Micrel and Atmel have expanded Microchip’s product portfolio and continue to aid the top line. Additionally, strong demand for Microsemi’s solutions in Data Center, Communications, Defense & Aerospace markets make us optimistic about the company’s prospects. Further, collaborations with the likes of Amazon’s AMZN and Sony SNE augur well for the company. Notably, the company has collaborated with Amazon Web Services (“AWS”) to support AWS offerings and develop secure cloud systems. In fact, Microsemi, Microchip’s subsidiary recently announced that AcuEdgeZLK38AVS Development Kit for Amazon Alexa Voice Service (“AVS”) could showcase far-field voice pick up and various mic array configurations. Additionally, Microchip unveiled IS2064GM-0L3, a Bluetooth 5-compliant System-on-Chip (SoC) compatible with Sony’s advanced LDAC audio codec technology. Robust collaborations and strategic buyouts are expected to aid the company in expanding business and total addressable market (TAM), consequently favoring top-line growth. Other Factors The company continues to capitalize on enhancing its solution range and improving capacity constraints along with design wins. This provides Microchip a competitive edge in the semiconductor industry. However, increasing lead time, slim demand trends in ZTE and Bitcoin business domains are headwinds. Further, imposition of tariff owing to trade war between the United States and China has been taking a toll on chipmakers for a while now and remains a concern. What Our Model Says According to the Zacks model, a company with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) has a good chance of beating estimates if it also has a positive Earnings ESP. Sell-rated stocks (Zacks Rank #4 or 5) are best avoided. Microchip has a Zacks Rank #3 and an Earnings ESP of 0.00%. This makes surprise prediction difficult. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter. Stock that Warrants a Look Here is a stock you may consider, as our proven model shows that it has the right combination of elements to post an earnings beat this quarter. Archer Daniels Midland Company ADM has an Earnings ESP of +2.45% and a Zacks Rank #1. The company is slated to report fourth-quarter 2018 earnings on Feb 5. You can see the complete list of today’s Zacks #1 Rank stocks here . Looking for Stocks with Skyrocketing Upside? Zacks has just released a Special Report on the booming investment opportunities of legal marijuana. Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look. See the pot trades we're targeting>> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Sony Corporation (SNE) : Free Stock Analysis Report Microchip Technology Incorporated (MCHP) : Free Stock Analysis Report Archer Daniels Midland Company (ADM) : Free Stock Analysis Report To read this article on Zacks.com click here. View comments || Nvidia forecasts demand rebound, Wall Street not so sure: By Sonam Rai
(Reuters) - Nvidia Corp's forecast of a demand rebound by the end of the year calmed investor nerves and pushed its shares up 5 percent on Friday, but several Wall Street analysts said the outlook was "aggressive" given weak demand and the ongoing U.S.-China trade war.
The chip designer on Thursday forecast full-year revenue to be "flat or down slightly" from 2018, but Chief Executive Officer Jensen Huang said he expects China, gaming and self-driving vehicles to drive demand for its chips.
Rival chipmaker Advanced Micro Devices Inc had also forecast full-year revenue ahead of analysts' expectations. AMD, like Nvidia, is banking on its newest graphics and data center chips to bolster growth for the year.
Top chipmakers took a hit in the fourth quarter from a slowdown in China, triggered by the trade dispute. In January, Nvidia cut its fourth-quarter revenue estimate by half a billion dollars because of weak demand in China.
The dispute remains an overhang even as negotiators from the two countries are in talks ahead of a March 1 tariffs deadline.
While Nvidia could see a double-digit drop in revenue in the first two quarters, it is projecting a big 35 percent jump in the fourth quarter to make up for the lost sales, Loup Ventures analyst Gene Munster wrote in a note.
"The key question: is a 35 percent y/y growth exiting FY20 realistic? Our belief is that it is not realistic because it is similar to the growth rates during the crypto-boom," Munster said.
Demand for graphic chips from Bitcoin miners brought in hundreds of millions of dollars for Nvidia in 2018. But at the fag end of the year the boom evaporated, and, coupled with lower demand from China, led to a pile-up of unsold chips at distributors and retailers.
Nvidia will not be able to make up on all the crypto loss and could likely miss the full-year guidance, according to analyst Kinngai Chan from Summit Insights Group.
However, the company still has an opportunity in the form of selling technology for self-driving cars.
Nvidia's platform is being used by hundreds of companies involved in autonomous cars, including software developers, auto suppliers, sensor and mapping companies.
"Although this (self-driving) segment currently contributes relatively little to the top line, we acknowledge the opportunity Nvidia has to grow its presence in cars beyond infotainment as drivers seek autonomous features in newer vehicles," Morningstar analyst Abhinav Davuluri wrote.
(Reporting by Sonam Rai in Bengaluru; Editing by Saumyadeb Chakrabarty) || U.S. Stock Market Rally Fizzles Amid Confusion Over Trade Deal: The major U.S. stock indexes closed mixed on Tuesday with the S&P 500 Index and the Dow Jones Industrial Average posting losses and the NASDAQ Composite holding on to produce a small gain. Early session strength was erased late in the day as sellers dominated the trade in reaction to conflicting reports over the progress of U.S.-China trade negotiations. In the cash market, the benchmark S&P 500 Index settled at 2832.57, down 0.37 or -0.01%. The blue chip Dow Jones Industrial Average finished at 25887.38, down 26.72 or -0.10% and the technology-based NASDAQ Composite closed at 7723.95, up 9.47 +0.13%. The Dow Jones Industrial Average was up about 200 points early in the session on the back of a report which said that trade talks between the United States and China were in the final stages with the announcement that China Vice Premier Liu He will travel to Washington in the next few weeks. However, the blue chip Dow began to retreat from its highs after Bloomberg News initially reported, citing people familiar with the matter, that U.S. officials are worried China may be pushing back against U.S. demands in the countries ongoing trade talks. The report also said Chinese negotiators are worried they have not received assurances that tariffs imposed on Chinese goods would be lifted once a deal is struck. Supporting the U.S. stock markets early in the session were the start of the U.S. Federal Reserve monetary policy meeting. Going into Wednesdays key Fed announcements, investors are pricing in zero chance of a rate hike. Additionally, investors arent looking for much change in the central banks monetary policy statement. The Federal Open Market Committees (FOMC) economic productions are the main concerns for investors at this meeting. Investors expect the Fed to lower its interest rate forecasts to show little or no chance at further tightening in 2019. Most expect the Fed to maintain its cautious tone and its call to be patient in the wake of the slowing global economy. Story continues In other news, the Dow snapped a 4-day winning streak while forming a potentially bearish closing price reversal bottom. Leading the blue chip average lower were shares of J.P. Morgan Chase, which fell 0.5 percent. Apple stock also retreated after a stellar week-long rally. The technology giant finished 1 percent lower. The negative news about U.S. China trade relations pressured Caterpillar and Boeing, two stocks seen as trade bellwethers given their exposure to Chinas markets. This article was originally posted on FX Empire More From FXEMPIRE: Natural Gas Price Prediction Prices Rise but are Capped by Resistance GBP/USD Price Forecast British pound continues to grind higher U.S. Stock Market Rally Fizzles Amid Confusion Over Trade Deal EUR/USD Price Forecast Euro continues to grind higher Silver Price Forecast Silver markets run into resistance Bitcoin And Ethereum Daily Price Forecast Bitcoin Bulls On Another Attempt For Bullish Breakout || Millions in cryptocurrencies frozen after Canadian founder's death: By Tyler Choi TORONTO (Reuters) - About C$180 million ($137.21 million) in cryptocurrencies have been frozen in the user accounts of Canadian digital platform Quadriga after the founder, the only person with the password to gain access, died suddenly in December. Gerald Cotten died aged 30 from complications with Crohn's disease while volunteering at an orphanage in India, according to the Facebook page of Quadriga CX, which announced his death on January 14. The platform, which allows the trading of Bitcoin, Litecoin and Ethereum, filed for creditor protection in the Nova Scotia Supreme Court last week. Quadriga has 363,000 registered users and owes a total of C$250 million to 115,000 affected users, according to an affidavit filed by Cotten's widow Jennifer Robertson on behalf of the company. Robertson said in the affidavit that Cotten's main computer contained a "cold wallet" of cryptocurrencies, which is only accessible physically and not online, and his death left "in excess of C$180 million of coins in cold storage." Robertson said she was not involved in Cotten's business while he was alive and did not know the password or recovery key. "Despite repeated and diligent searches, I have not been able to find them written down anywhere," she said. Robertson said that she has consulted an expert who has had "limited success in recovering a few coins and some information" from Cotten's other computer and cell phones, but the majority remains untouched on his main computer. Quadriga's troubles highlight the unique challenges of cryptocurrencies, Dean Skurka, vice president of rival platform Bitbuy.ca, said in an interview with the Canadian Broadcasting Corp. "This really highlights the need for the government to take action and regulate cryptocurrency exchanges," Skurka said. Robertson said in her affidavit she has received online threats and "slanderous comments", including questions about the nature of Cotten's death, and whether he is really dead. ($1 = 1.3119 Canadian dollars) (Reporting by Tyler Choi; Editing by Sonya Hepinstall) || This Crypto Art Auction Lets Venezuelans Dismantle Maduro Bolivar by Bolivar: cryptograf venezuela.jpg To donate to causes aiding those in Venezuela, please visit #AirdropVenezuela’s website or Bitcoin Venezuela’s website . To partake in cryptograffiti’s charity auction, please visit the donation page and tune in to the live stream here . “Literally and figuratively, the Venezuelan people are bringing down Maduro.” This is how cryptograffiti described his latest work, a charity piece that he will be auctioning off online through a live stream in Colombia. The mural, constructed entirely of 1,000 bolivars, is painted over with a portrait of Nicolas Maduro, the autocratic leader of Venezuela whose power has been constitutionally challenged by opposition leader Juan Guaido since January of this year. In the painting, Maduro’s mouth is censored with a blue bar bearing the hashtag #AirdropVenezuela, an ironic nod to the political and economic repressions the Venezuelan people have endured while also applauding their ability to persevere through this hardship. As usual with the crypto artist’s symbolic and subversive work, the auction comes with a twist — a deconstructive one. With each donation, a bolivar from the mural will be torn off by a Venezuelan citizen. Broadcasted from Cúcuta, Colombia, a city bordering Venezuela, the cross-border protest will allow the Venezuelans to vent political frustrations and simultaneously attract donations for aid. “The piece-by-piece dismantling of the bolivars by those choosing to donate crypto is meant to represent a new beginning made possible by a new form of money not controlled by any one authority. There is also symbolism in how these donations have the ability to come from outside of a region known for heavily regulated currency controls,” cryptograffiti told Bitcoin Magazine . The auction will also accompany a live art session where Venezuelan children will create pieces to be sold at a later date. Since the death of Hugo Chavez in 2013, the policies of Venezuelan president Nicolas Maduro have thrown the country into economic and social turmoil. With an economy ravaged by hyperinflation, rampant poverty and crime have furnished a worsening humanitarian crisis . The crisis reached a bloody impasse on February 21, 2019, as Venezuelan forces opened fire on protesters at the Brazilian border after the government refused to accept humanitarian aid. Story continues It’s proven difficult for aid to penetrate the country’s borders. But bitcoin and other cryptocurrencies have become a vestige of monetary hope for Venezuelan expats who want to send money back home, and cryptograffiti’s auction will leverage crypto’s borderless nature to buy aid from within the country. In a partnership with AirTM as part of their #AirdropVenezuela campaign , cryptograffiti is directing all donations, which can come by way of cash deposits on AirTM , bitcoin and a host of altcoins, to the philanthropic campaign. As a wider effort, AirdropVenezuela’s goal is to send $1,000,000 worth of cryptocurrencies to 100,000 families in Venezuela. Even just $10 worth of cryptocurrencies “can help a family purchase food, medicine, and scarce imported goods. Access to digital money can help introduce Venezuelans to cryptocurrencies, online freelancer platforms, ecommerce, investments, donations and other income generating web-based opportunities,” the campaign states. For the art auction in particular, the charity collective has set its fundraising goal at $10,000. Fifty percent of these funds will go to rebuilding the auction venue, the Fundación Renacer , a daycare that provides support for families affected by the financial crisis, while the remaining 50 percent will be distributed with the rest of the funds raised by AirdropVenezuela at the end of April. I'm in Cúcuta where Venezuelan refugees are arriving by the thousands for food, medical aid & to live free from oppressive rule. @theAirtm & I have teamed up as part of their #AirdropVenezuela campaign to raise funds for those in need via an interactive mural live-streaming now pic.twitter.com/NDVlHCAgId — cryptograffiti (@cryptograffiti) February 26, 2019 Crypto education company Cripto Conserje will oversee the reconstruction of the daycare, and during the auction, it will host information sessions on how to access, use and store cryptocurrencies, including teaching attendees how to use coins distributed at the event to purchase food kits from one of the auction’s partners. This education will hopefully unlock crypto’s potential for an economically disenfranchised population that needs it most. For Venezuelans, bitcoin and the like can provide a censorship-resistant method to store and transfer value, something AirTM’s services are trying to make more accessible for Latin American and, more urgently, Venezuelan citizens who lack access to robust banking and a sound currency. The application accommodates more than 200 deposit and withdrawal methods, including crypto, to convert currencies to USD in order to store value and protect it “from possible devaluations.” When bitcoin is used in Venezuela, it is often as a go-between for a foreign currency and the bolivar or some other, stronger one like the dollar. Eduardo Gomez, head of support at Purse.io, for example, told Bitcoin Magazine that when Venezuelan expats send money back home with bitcoin, they will typically sell it through LocalBitcoins to a Venezuelan trader, who will then deposit bolivars into the bank account of the expat’s relative. As the economic situation has only degraded further in 2018-2019, LocalBitcoins has seen rapidly increasing trading volumes in Venezuela. Occasionally, your technically minded Venezuelans will sell the bitcoin themselves for USD (or another foreign currency) and deposit that money into a foreign bank account as savings. Either way, cryptocurrencies typically serve just as an intermediary for value transfer, one that circumvents the tight remittance controls and fee gouging that the Venezuelan government effects with its monopoly over currency conversion and international money transfers . The AirdropVenezuela campaign wants to take the extra step in getting beneficiaries to use crypto instead of relying on Venezuela’s failing fiat currency. The campaign will donate and educate these citizens on crypto’s significance in their situation, as well as alerting them to online economies that may allow them to receive crypto as payment, such as freelancing. This is how Gomez, who has been living on bitcoin since 2012, is pulling his family out of poverty. He began receiving bitcoin for freelance translation work online, and after leaving Venezuela, he trades bitcoin for bolivars on LocalBitcoins to send his family funds. Cryptograffiti hopes his latest work will expose a grim situation which has continued to experience much deserved attention under the international spotlight as of late. But as much as it exposes the severity of the situation, he hopes that the part-performance art, part-visual art will reveal (and convince people of) the solution to these economic woes. “After reciting the tired ‘maybe it doesn't apply as directly to you, but Bitcoin is important in authoritarian regimes’ line one too many times, I wanted to do something to contribute to Venezuela and experience the situation first-hand,” he said. “I’ve been thinking a lot about collaborative art as of late and how it helps spread the message and engage viewers. This led me down the path of a mural that was made up of many different parts that would be interactive in some fashion.” After the auction is over, two pieces — Maduro’s left and right eyes — will be signed by cryptograffiti and one will be sent to the highest bidder based on his or her preference. The other will go to another donor chosen at random. Cryptograffiti’s auction is the latest in artist-led philanthropy efforts. Billionaire business mogul Richard Branson hosted a charity concert in Cúcuta last Friday. Branson hoped the concert would raise awareness and some £100 million for the people of Venezuela, and it attracted an appearance by opposition leader Guaido. In the realm of crypto philanthropy, Bitcoin Venezuela , a charity organization founded by Randy Brito, also exports bitcoin funding for aid inside the country. Subsisting on donations in the ballpark of $100, the organization sends funds into the country to workers on the ground who provide food, clothes, medical supplies and other provisions to struggling Venezuelans. Once the Lightning Torch , a Lightning network payment experiment that has been making global rounds, reaches the network’s channel limit, its creator, hodlonaut, intends to have the final sum donated to the charity. Image courtesy of cryptografitti. This article originally appeared on Bitcoin Magazine .
[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 $BTC 256 Tweets
2位 $XRP 94 Tweets
3位 $TRX 81 Tweets
4位 $XLM 35 Tweets
5位 $ENJ 30 Tweets
2019-03-11 06:00 ～ 2019-03-11 06:59
COINTREND いまTwitterで話題の仮想通貨を探せ！
https://cointrend.jp/ || Deposit Reward is released two digital asset management products of BTC and USDT at 15:00 on March 29, 2019 (UTC+8) in http://CoinX.pro pic.twitter.com/BlbRz4R3d1 || #BTT は@kucoincomに上場されました。2019年2月3日（SGT）の16:00に #BTT の入金サービスが開始、2019年2月3日22:00（SGT）に出金サービスが開始、2019年2月3日18:00（SGT）に取引ペア BTT / BTC，BTT / ETHが利用可能になります。 #BitTorrent $BTTpic.twitter.com/zVu2bF2ONf || Total Market Cap: $111,439,996,468
1 BTC: $3,399.05
BTC Dominance: 53.46%
Update Time: 08-02-2019 - 03:00:11 (GMT+3) || Historical performance of #BITCOIN against #EURO:
first price:97.0
last price:3404.0
EARNINGS:3409.28%
1.70% per day
11.87% per week
50.88% per month
610.58% per year
PERIOD:
5.58 years
67.00 months
287.16 weeks
2010.11 days
#BTC #BLOCKCHAIN #CRYPTOCURRENCY || Bitcoin (BTC) Has a Market Dominance of 80%, Study Concludes - http://bit.ly/2TtPtwA
#bitcoin #btc #bitcoinnews #blockchainpic.twitter.com/UH5rZJOqBn || BITCOIN CASH Price Prediction Today: Daily (BCH) Value Forecast – March 18 https://ift.tt/2W155ta The medium and short-term outlook is in the uptrend. The journey to $180.00 supply area is on. BCH/USD Medium-term Trend: Bullish Supply zones: $180, $200, $220 Demand zones: $5… || @CryptoBetCom looks 🔥
Remember $CBET airdrop for eFIN partners. Register here https://t.co/xZra8Qpp8P and upgrade to partner or platinum to get the #airdrops.
CBET coin launch tentative is in may and airdrop is after that.
#GamblingTwitter #gamblingfairytales
#bitcoin
#crypto https://t.co/v3QOJzTe8A || The current value of BTC at 09:22:56 on 18/02/2019 (AEST) is $5,072.00 AUD.
#bitcoin #australia || 1H
2019/03/29 10:00 (2019/03/29 09:00)
LONG : 24048.52 BTC (+57.31 BTC)
SHORT : 18283.39 BTC (+35.43 BTC)
LS比 : 56% vs 43% (56% vs 43%)
|
Trend: up || Prices: 4105.40, 4158.18, 4879.88, 4973.02, 4922.80, 5036.68, 5059.82, 5198.90, 5289.77, 5204.96
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2018-05-15]
BTC Price: 8510.38, BTC RSI: 43.92
Gold Price: 1288.90, Gold RSI: 33.42
Oil Price: 71.31, Oil RSI: 64.36
[Random Sample of News (last 60 days)]
Hawaiian Holdings Stock Could Soar Much Higher: After a lackluster performance in the first few months of 2018, shares of Hawaiian Holdings (NASDAQ: HA) surged higher following the company's stellar first-quarter earnings report . (The stock has since retreated due to worries about a volcanic eruption on Hawaii's Big Island and new reports about Southwest Airlines ' plans to serve Hawaii.) Hawaiian Airlines achieved a solid 4.9% increase in revenue per available seat mile (RASM) last quarter, despite United Continental 's (NYSE: UAL) massive expansion in Hawaii, outpacing its 4.3% uptick in adjusted non-fuel unit costs. This allowed Hawaiian to post adjusted EPS of $1.09 -- up 11% year over year. Hawaiian Airlines' RASM growth will slow in the second quarter -- driven in part by the timing of Easter -- while cost pressures will increase. As a result, pre-tax profit is likely to fall sharply. However, Hawaiian's outlook for the second half of 2018 and beyond is quite strong. With the stock trading for less than seven times earnings, there is clearly tons of upside for shareholders. Revenue trends are very encouraging Hawaiian Airlines' second-quarter guidance implies that RASM will rise about 3% for the first half of 2018. That would be impressive, given that United's rapid growth has caused industry capacity to increase by double digits on mainland-Hawaii routes. Hawaiian Airlines has also faced tough year-over-year revenue comparisons. (RASM surged 8.4% in the first half of 2017.) By contrast, industry capacity growth on North America routes is set to decelerate to single-digit territory in the back half of the year. Hawaiian will also face easier comparisons going forward, as RASM rose less than 5% in the second half of 2017. A Hawaiian Airlines plane flying over the ocean, with mountains in the background Hawaiian Airlines should be able to post strong RASM growth later this year. Image source: Hawaiian Airlines. To be fair, Hawaiian Airlines is currently benefiting from a big decrease in competition within the Hawaii interisland market after its main competitor collapsed last November. Meanwhile, the return of fuel surcharges in some international markets (mainly Japan) has driven strong RASM growth. Thus, RASM momentum in those two parts of the business will likely slow in 2019. But by then, North America-Hawaii unit revenue trends should be improving. Story continues Cost trends will turn around in the second half of 2018 An equally important part of the investment case for Hawaiian Holdings is its improving unit cost trajectory. Adjusted non-fuel unit costs surged 6.9% in 2017 and will rise by about 5% in the first half of 2018. Yet by the second half of this year, Hawaiian's management expects non-fuel unit costs to be approximately flat year over year. The key to this unit cost improvement is the pending replacement of Hawaiian's Boeing 767 fleet with state-of-the-art Airbus A321neos. Right now, the carrier is suffering from elevated costs related to delays in its A321neo deliveries. For example, it had to extend the life of one 767 by performing extra maintenance work on it, and pilot productivity has suffered due to the carrier operating fewer A321neos than planned. Fortunately, Hawaiian Airlines expects to receive all nine scheduled 2018 A321neo deliveries by year-end. This will allow it to retire the last of its 767s at the end of 2018 as planned. The 2019 outlook is excellent By the beginning of 2019, Hawaiian will have lapped United Continental's Hawaii growth, which should translate to lower competitive capacity increases. (While Southwest Airlines plans to fly to Hawaii beginning in late 2018 or early 2019, it has indicated that it will start small.) Given that mainland-Hawaii unit revenue has held up extremely well this year despite United's big Hawaii expansion, slower capacity growth in 2019 will likely translate to solid RASM increases. Additionally, by replacing its eight 767s with A321neos, Hawaiian will be able to reduce capacity on lower-demand routes while increasing the proportion of premium seats on those flights. That should also contribute to unit revenue growth. On the cost side, Hawaiian Airlines is now likely to get most of the benefit from its fleet renewal project in 2019. The new A321neos could be about 30% more fuel efficient than the 767s they replace, will have a lower cost of ownership, and they will be much cheaper to maintain. Additionally, the cost headwinds from A321neo pilot training and from opening Hawaiian's new maintenance and cargo facility will abate next year. The carrier also signed a new contract with a maintenance vendor in late 2017, which will reduce costs starting next year. The net result is that non-fuel unit costs will probably be flat or down in 2019 and fuel efficiency will improve significantly. This means that Hawaiian Airlines should be able to achieve margin expansion even with modest unit revenue growth. With analysts currently expecting EPS to decline next year, Hawaiian Airlines is in good position to continue performing well above expectations -- driving big gains for Hawaiian Holdings stock. 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 Hawaiian Holdings. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . || Interview with Markus Levin, XYO Co-Founder: How was the idea of XYO born? The introduction of Ethereum in 2013 brought about “smart contracts” which are transaction protocols that collapse payment and execution of an agreement into the same thing. However, Ethereum’s one major drawback was that smart contracts need a centralized third-party for verification, making those contracts vulnerable to hackers. Moreover, there was not a reliable method to incorporate geo-based information onto the blockchain. To eliminate this vulnerability, XYO set about building the world’s first decentralized location verification system, starting with more than one million Bluetooth and GPS devices used by people around the world. It is blockchain’s first crypto-location oracle network. Can you explain the common people about your product? The XYO Network bridges the gap between the world of today to the “smart world” of tomorrow by merging blockchain with the physical world. Location data is a quiet cornerstone of our daily lives. Its use has increased significantly over the last decade. With a fully automated world on the horizon, the demand for it will grow exponentially. Blockchain technologies and cryptocurrencies have mostly been limited to the internet in online applications – not offline ones. The XYO Network connects blockchain to the physical world with over 1 million location-verifying beacons already in circulation. XYO Network has taken the lead in bringing the promise and benefits of blockchain technology to the real world on a massive, global scale. As the company is carrying out ICO, what has already been done and what are you going to create on the money collected by the ICO? XYO has already built the world’s first decentralized location verification system, starting with more than one million Bluetooth and GPS devices used by people around the world. It is blockchain’s first crypto-location oracle network. How does XYO differ from similar services? How can your innovative service assist the new economic and technological development? Story continues XYO Network built the world’s first decentralized location verification system with more than one million Bluetooth and GPS devices already around the world. After years of investment and breakthroughs in crypto-location technology, XYO is poised to help bring the promise and the benefits of blockchain technology to the real world on a massive and global scale in location-reliant trade markets that generate trillions of dollars in activity. This can have a profound impact on businesses that rely on the delivery of goods and services requiring proof of location documentation, including online transaction enterprises such as Amazon. It also brings added value for a multitude of industries ranging from airline baggage handling, medical facility equipment tracking, cargo holds inventory verification, package theft detection, car rental key tracking, school arrival notification and countless more. Suggested Articles How to Pick the Right ICO Investment? The Next Cryptocurrency Evolution 15 Must-Do Tips to Read ICO WhitePaper How can XYO change the Location Data services? As all forms of commerce become more reliant on location data, smart cities and companies of the future will increase their dependence on that data exponentially. However, one of the biggest challenges is finding a more efficient and foolproof way to deliver trustworthy location data. XYO Network has focused efforts on making trustless location data possible through an ecosystem of crypto-location technologies and protocols. This article was originally posted on FX Empire More From FXEMPIRE: And the Worst Performance Award Goes to… Ripple U.S Mortgage Rates Hold Steady for Now Bitcoin and Ethereum Price Forecast – BTC Prices Below $7000 USD/JPY Fundamental Weekly Forecast – Trade War News Major Market Driver This Week Natural Gas Price Fundamental Weekly Forecast – Market Anticipating at Least One-More Storage Withdrawal Bitcoin – Floored or More to Go? || The Pros and Cons of Bitcoin: While bitcoin has been at the forefront of the news cycle over the past year, a lack of understanding about how the cryptocurrency actually works and its extreme volatility has kept many traders from considering the industry to be investment-worthy. However, there could still be money to be made. But investors need to be willing to stomach a little risk and wait out the bumps. Here’s a look at the pros and cons of bitcoin. Pro: Growth Potential Perhaps the most appealing thing about bitcoin is that the technology is so new that the growth prospects look compelling. Bitcoins offer a new way for people to exchange funds instantly without going through a third party intermediary. 10 High-Tech Gifts Mom Would Love for Mother’s Day Bitcoin functions on a technology called blockchain, which allows people to transfer assets for just a fraction of the time and money it would take to make the same transaction through traditional financial institutions. For that reason, many have pointed to blockchain as one of the most important technological advances of this decade. Blockchain is useful not just for cryptocurrency transfers, but as a ledger-like technology. And it is applicable to several other industries as well. Everything from the way stocks are traded to how contracts are negotiated could be changed via blockchain. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Bitcoin itself also has a large growth runway as people get more comfortable using it. We’ve already seen everything from Bitcoin ATMs to big-name retailers accepting the cryptocurrency as a valid payment. That’s good news for bitcoin investors. The coins will only become more valuable as the currency catches on and grows in popularity. Con: Misunderstood Perhaps the biggest con for Bitcoin is the general public’s lack of understanding surrounding the cryptocurrency. Several studies have shown that people — including bitcoin users — don’t really understand how the cryptocurrency works and whether or not it’s secure. Story continues That’s a problem. In order for more people to adopt and become comfortable with bitcoin, they will almost certainly need to understand it. Additionally, the digital currency already has a poor reputation regarding safety, so understanding how to protect and use bitcoins wisely is paramount to it’s expansion. Pro: Safety Another big reason Bitcoin is considered transformative is that the blockchain protects against things like identity theft and payment fraud more thoroughly than a credit-card transaction ever could. As the coins are digital, they can’t be counterfeited. This takes a way some of the risk that traditional transactions carry. Not only that, but payments via bitcoin are more secure for buyers than credit card charges. Paying via bitcoin allows a buyer to send exactly the amount required — giving the merchant no access to the rest of their funds. Credit card payments give merchants access to an entire line of credit for any amount. This leaves the door open for hackers and dishonest merchants to pull as much as they want from a buyer’s account. Con: Safety When discussing the pros and cons of bitcoin, safety falls in both categories. Bitcoin transactions require just the buyer’s coin wallet ID — rather than their name and contact details. Thus, they offer a degree of anonymity that traditional transactions don’t. While some tout this as a pro for bitcoin, it’s also why some investors view cryptocurrencies negatively. Many worry that cryptocurrencies are becoming a sort of ‘underworld’ where seedy dealings can take place because this anonymity. That has contributed to consumers’ hesitation to adopt the currency. And it’s given regulators reason to warn against getting involved in bitcoin without fully understanding it. Investing In Light of the Pros and Cons of Bitcoin In theory, bitcoin looks like a great opportunity to jump on a new technology before it gains momentum — but in practice things are much murkier. Bitcoin prices have proven to be extremely volatile. And as they don’t offer any of the kind of valuation metrics that stocks do, it’s difficult to estimate where prices are going. Analysts are all over the shop with bitcoin 2018 predictions, making it difficult to gauge where the cryptocurrency is heading. There are plenty of other ways to add cryptocurrencies to your portfolio without owning them outright though. The closest you can get without buying them would be through an investment like the Bitcoin Investment Trust (OTCMKTS: GBTC ). The trust behaves similarly to an ETF by buying and holding on to bitcoins. That means investors who buy shares will benefit should bitcoin prices rise. Investors can also purchase futures contracts to bet on bitcoin prices. 3 Value Stocks for Income Investors However, perhaps the safest way to add bitcoin to your investment strategy is to choose a publicly traded company that has been making bets in the cryptocurrency space. Overstock.com Inc (NASDAQ: OSTK ) is the most notable example, the company has been shedding its traditional e-commerce business to become completely reliant on the cryptocurrency industry. If you’re looking for something even safer, consider a company like IBM (NYSE: IBM ) which has been working to develop new uses for blockchain or NVIDIA Corporation (NASDAQ: NVDA ) which makes chips used by bitcoin miners. As of this writing Laura Hoy did not hold a position in any of the aforementioned securities. More From InvestorPlace 10 'Toxic' Stocks Investors Will Dump Next 5 Beaten-Down Stocks to Scoop Up Now These 7 Best-Performing CEOs Guarantee High Returns 10 High-Tech Gifts Mom Would Love for Mother’s Day Compare Brokers The post The Pros and Cons of Bitcoin appeared first on InvestorPlace . || Apple Reportedly Seeking OLED Price Cuts From Samsung: Last week, reports surfaced thatApple(NASDAQ: AAPL)may have to continue relying on frenemySamsungas its sole supplier for OLED display panels, asLGhas run into manufacturing challenges that could potentially threaten its ability to meet the deadline for volume production. Getting another supplier onboard would be critical for Apple to score pricing concessions, pitting multiple suppliers against each other. Apple loses much of that bargaining power if it fails to diversify suppliers for any given component.
It sounds like Apple is making progress at the negotiating table with Samsung.
Image source: Apple.
DIGITIMESreports that Apple is looking to reduce its unit costs for OLED panels. The high price of those displays, which represents approximately a third of the total bill of materials (BOM), is also a key reason why the iPhone X starts at $1,000. That lofty price tag, in turn, has suppressed demand, since many consumersaren't willing to paythat much for a smartphone. Apple was paying about $110 per panel in 2017, but is attempting to bring that unit cost down to $100, according to the report.
IHS Markithad estimated in November that the OLED panel costabout $110. More recently, Fomalhaut Techno Solutions estimated that Samsung was charging$97 per panel. These differences may sound modest, but keep in mind they're applied over tens of millions of iPhones, so the per-unit costs add up quickly.
Apple is expected to buy upwards of 100 million OLED panels from Samsung this year, of which 25 million would be destined for iPhone X while the remaining 75 million would be for two iPhones with OLED displays that are set to launch later this year. One model will include a 5.8-inch OLED display comparable to iPhone X, with a larger 6.5-inch OLED display in an "iPhone X Plus" model.
The report also notes that Chinese vendors of OLED panels could be pushing the price down as well, as the industry has beeninvesting billionsin ramping up production capacity. Those panel makers will want to move as many units as possible, keeping capacity utilization high and amortizing fixed costs across more units. Keep in mind that it's unlikely that any of these panels would make their way into iPhones, as Apple has extremely high quality requirements and specifications that Chinese vendors probably wouldn't be able to meet. Even LG, one of the most experienced OLED panel makers in the world, is having trouble meeting those requirements.
Perhaps more importantly, it's not clear if Apple would pocket any cost savings it obtains or give those savings to consumers in the form of lower prices. Themessaging would be very difficult, since iPhone X buyers may feel like they paid too much last year. However, if a lower price translates into higher unit sales, which it intuitively should, then it could be worth it.
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Evan Niu, CFAowns shares of Apple. The Motley Fool owns shares of and recommends 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. || “Where Coffee Just Grows”: Connecting Ethiopian Agritech to the Blockchain: Blockchain technology holds great promise in Ethiopia, the largest coffee producer in Africa, but getting a foothold in the country is a challenge due its constraining bureaucracy. One blockchain company is finding inroads by directly collaborating with the government.
IOHK, the company behind the Cardano blockchain, has announced a partnership with the government of Ethiopia to explore how blockchain technology could benefit the country. As part of that, IOHK is offering to train up to 100 Ethiopian software developers in the Haskell programming language.
On Thursday, May 3, 2018, Charles Hoskinson, CEO at IOHK, signed a memorandum of understanding (MOU) with Minister Getahun Mekuria Kuma, representing an official partnership with the Ethiopian Ministry of Science and Technology. The signing took place during a blockchain forum held at the ministry.
“Today is a great day in Ethiopia,” the minister said in speaking to forum attendees. He hinted that the greatest use case for blockchain technology would be tracking the country’s main export. “In Ethiopia, we have been working on the possibility of adopting blockchain for marketing of agricultural products, especially for coffee,” he said.
Government buy-in is crucial to establishing any large scale business or technology in Ethiopia. “If you don’t have it, it is not really going to happen,” John O’Connor, director of African operations at IOHK, toldBitcoin Magazine. “The Ministry and Dr. Getahan have been integral in the work we have done so far.”
While IOHK will provide free Haskell training, the ministry will help IOHK recruit students for the course and aid IOHK in navigating the business environment in the country.
Cardano, whichlaunched in October 2017, is written in Haskell, a functional programming language. Although Haskell is more challenging to learn than more popular languages, like Java or C++, it is a good match forformal verification, which is a method for ensuring that mission critical code behaves the way it is intended.
Last time IOHK taught a Haskell course, all of the students were male. This time, the tables will turn. The minister wants the first batch of students from Ethiopia to be women to “promote and highlight the importance and participation of women in coding.” The ideal applicant will be a recent graduate from an Ethiopian university with a computer science or related degree, he said.
Hoskinson toldBitcoin Magazine, that the next Haskell course could start as soon as July 2018 and would likely be in IOHK’s Blockchain Research Lab in Edinburgh, Scotland. IOHK, which has previously held Haskell courses in Athens and Barbados, says it plans to hire promising graduates of the course as full-time developers to work with IOHK.
Coffee is a crucial export for Ethiopia, home to 100 million people. In fact, coffee is thought to have been first discovered in Ethiopia in the 15th century, later spreading far and wide through the Ottoman empire. Unlike in Brazil and other areas of the world, coffee grows freely in the plateaus of Ethiopia.
“This is the only place in the world where coffee just grows,” said O'Connor, a 27-year-old, who is half Ethiopian and half Irish. “You don’t need to do anything. It is just there. You can literally just forage around and pick it off the ground.” Because of that, little investment has been made in improving production efficiency of coffee, he said.
Ninety-five percent of the coffee grown in Ethiopia comes from small holdings and rural farms, and there are a number of things that can be done to increase coffee yield and improve marketing. One of the biggest challenges, for instance, is proving the origins of coffee. That is where the blockchain steps in.
The idea is that blockchain technology (specifically, a private or permissioned version of the technology, such as Cardano Enterprise) would allow all participants in the supply chain to trace and track coffee as it makes its way from rural farms to wholesale buyers.
Once data is stored on the blockchain, purchasers will know with certainty if the coffee is pure and where it came from, and regulators will be able to gain information about any pesticides used in production, for example.
Blockchain applications also have the potential to make payments and extend loans to farmers. “Coffee drives the economy here and there is so much potential to improve it; hopefully with blockchain products,” O’Connor said.
IOHK is not the first company to contemplate tracing coffee on the blockchain. Starbucks is working on a blockchain-basedprojectto trace coffee with producers in Costa Rica, Colombia and Rwanda, while Colorado-based startupbext360isusing blockchaintechnology to trace coffee coming from Uganda.
This article originally appeared onBitcoin Magazine. || Investors Could Get Used to Earnings Like This From Statoil: Anyone that has watched oil prices tick up recently has probably expected oil producers to report some impressive earnings results this past quarter, andStatoil(NYSE: STO)did just that with a 21% boost to the bottom line. At the same time, management is using all of its additional cash to do some wheeling and dealing that should help boost its growth possibilities in the nearer term.
Here's a rundown of Statoil's most recent earnings results and some of the moves management made this past quarter to set up the company for future success.
[{"Metric": "Revenue", "Q1 2018": "$19.9 billion", "Q4 2017": "$17.1 billion", "Q1 2017": "$15.53 billion"}, {"Metric": "Net income", "Q1 2018": "$1.29 billion", "Q4 2017": "$2.57 billion", "Q1 2017": "$1.06 billion"}, {"Metric": "EPS", "Q1 2018": "$0.39", "Q4 2017": "$0.77", "Q1 2017": "$0.33"}, {"Metric": "Operating cash flow", "Q1 2018": "$7.07 billion", "Q4 2017": "$1.6 billion", "Q1 2017": "$5.71 billion"}]
Data source: Statoil earnings release. EPS= Earnings per share.
It's astounding what $60 a barrel can do for an oil company's results these days. It wasn't that long ago that prices this low would have led to substantial losses. This past quarter, though, Statoil realized an average price of $60 a barrel on every barrel sold, and it generated a mountain of cash. That $7 billion in cash flow for the quarter was enough to cover its capital spending, its dividend payment, a previously announced $1.45 billion acquisition, and still leave an additional $1.5 billion on the balance sheet to reduce its net debt load from 29% to 25%.
As you might expect in a rising oil price environment, Statoil saw a considerable uptick in operating earnings for both its Norway and international exploration segments while its downstream refining and marketing segments saw modestly declining results.
Data source: Statoil earnings release. Chart by author.
• Production for the quarter came in at 2.18 million barrels of oil equivalent per day. That's a slight uptick both on a sequential and year-over-year basis. Adjusting for maintenance and other work that shut in production, management estimates that underlying production was up 2%; primarily from higher production in the U.S. This quarter's 799,000 barrels per day from its international segment was a company record.
• Management reiterated its guidance for $11 billion in organic capital spending for 2018, with another $1.5 billion dedicated to exploration expenses. This doesn't include acquisitions such as the most recent acquisition ofTotal's(NYSE: TOT)interest in the Martin Linge field and the Garantiana discovery in the Norwegian part of the North Sea.
• Continuing the trend ofbeing very active in the acquisition and auction markets, the company won a 40% working interest in the North Platte oil discovery on the U.S. side of the Gulf of Mexico as part of theCobalt International Energybankruptcy auction. Statoil will partner with Total, which increased its interest in the field to 60% and took the operatorship of the project.
• Statoil also was part of various consortiums -- including partnersPetrobras,ExxonMobil, andBP-- that won four offshore blocks in the most recent Brazil offshore auction.
• As part of itseffort to diversify its business, the company also signed an agreement to acquire a 50% stake in two offshore wind projects off the coast of Poland that combined will generate 1,200 MW of electricity.
• The board of directors has proposed Statoil change its name to Equinor as part of its strategy to become more than just an oil and gas company. Shareholders will vote on the proposed name change in May.
Image source: Getty Images.
To cover all of the things going on at Statoil in one public statement would take a couple of pages, so CEO Eldar Saetre did his best to give a brief overview of the things Statoil is working on now and some of the projects it expects to bring on stream in the near future.
[W]e have accessed attractive acreage in Brazil and the Gulf of Mexico, secured acreage for further developing our renewable business in Poland and taken over the operatorship for Martin Linge. This week, the world's largest spar platform arrived at the Aasta Hansteen field in the Norwegian Sea. In addition, Johan Sverdrup and our project portfolio are progressing according to plan and we have delivered the development plan for the Askeladd project for approval.
Data source:STOdata byYCharts.
Statoil's -- soon to be Equinor's? -- first quarter result is a sign that the oil market is picking back up. With prices in the $70-$75 per barrel range, many projects are much more economical than they were just a few months ago. At the same time, though, Statoil and others appear to be erring on the side of caution by keeping capital budgets flat and maintaining low-cost operations to trim debt loads and generate value for shareholders.
It's a little too presumptuous to assume that oil prices will remain this high for the remainder of the year, so investors should remain focused on the fundamentals of the business. Based on this earnings report, Statoil is delivering.
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Tyler Croweowns shares of ExxonMobil and Total. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy. || Why Owens Corning's Shares Plunged 12.5% Today: What happened Shares of building products company Owens Corning (NYSE: OC) fell as much as 12.5% in early trading after reporting first-quarter earnings that fell short of expectations. Shares recovered slightly as the day went on and were down 8.7% as of 12:30 p.m. EDT. So what First-quarter revenue rose 14% to $1.69 billion, topping the $1.62 billion analysts were expecting. But earnings were just $92 million, or $0.82 per share. On an adjusted basis, which pulls out one-time items and is usually comparable to analysts' estimates, earnings were $0.80 per share, well below the average estimate of $0.96. Pink insulation on the inside of a roof. Image source: Getty Images. Management blamed rising raw material prices for lower than expected margins and said they've raised prices to mitigate the impact of those costs. The impact of those price increases should start showing up next quarter. Now what Raw materials can be volatile for any manufacturing company, so I wouldn't be too concerned about one earnings miss on higher costs. I was more impressed with the company's growth rate and the fact that new housing and updates to existing houses are expected to drive growth throughout the year. I think today's drop in share price is a nice buying opportunity for long-term investors willing to wait for the ebb and flow of raw materials prices to work in the company's favor. 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 Hoium 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 . || Below $500? Ether Price Seeks Floor After 40% Drop: The 40 percent month-on-month decline of ethereum's ether cryptocurrency has pushed the long-term price floor down to $300, the technical charts indicate. As of writing, the world's second largest cryptocurrency by market capitalization is changing hands at $534, as per CoinMarketCap . Stepping back, ether's sharp reversal from the Feb. 6 low of $555 (prices as per Coinbase) and the rally to near $1,000 in the subsequent days meant the cryptocurrency had established a strong price floor below $600. That now looks to have been pushed down. Daily chart Vitalik Wants You to Pay to Slow Ethereum's Runaway Growth As seen on the chart above, ETH left lower highs around the key descending trendline, as the rally from Feb. 6 lows ran out of steam and sellers took over after the cryptocurrency fell below its 100-day moving average (MA) on March 6. The transfer of power from bulls to bears pushed the price down to $450 on March 18 - the lowest level since Dec. 11. During that process, the cryptocurrency also witnessed a head-and-shoulders reversal on March 14Â - indicating that the rally from the December 2016 low of $5.81 has ended and the bears have regained control. Further, a 50-day MA and the 100-day MA bearish crossover was confirmed on March 15. Bitcoin Slides Below $8K, But Downside Could Be Limited So, ETH will likely find acceptance below $546 (61.8 percent Fibonacci retracement of December 2016 to January 2018 rally) and extend the drop to $300 (78.6 percent Fibonacci retracement) over the next couple of months. View The price floor looks to have dropped to $300. That said, oversold conditions in the near-term may help ETH defend the March 18 low of $450. Only a convincing move above the head-and-shoulders neckline resistance (former support now seen at $661) would abort the bearish view. A move above $982 would signal a long-run bearish-to-bullish trend change. ETH/BTC chart The head-and-shoulders breakdown has opened the gates for a drop to BTC 0.045 (78.6 percent Fibonacci retracement). In the short-term, oversold conditions could yield a minor corrective rally to the neckline resistance, currently seen around BTC 0.072. A long-term bullish reversal is seen only above BTC 0.0895 (Feb. 26 high). Story continues Ether image via Shutterstock Related Stories Trapped Below $9K, Bitcoin Risks Downside Break ICON to EOS: 3 Cryptos Are Leading the Market Recovery || Why 3M's Earnings Report Isn't a Reason to Panic: Shares of 3M Co (NYSE: MMM) plummeted after the company reported first-quarter earnings this week, because of a small reduction in full-year earnings guidance . 3M management still expects the company to grow organically at a rate of 3% to 4% this year, and expects earnings per share (after pulling out one-time items such as a legal settlement) to be $10.20 to $10.55, which is up 11% to 15% from a year ago. But that wasn't enough for investors. For an industrial company that's muddled through most of the past two decades, generating meaningful growth should be a positive for investors. While the market may be down on the stock, I think the recent drop in shares is a buying opportunity. Firefighter in respirator. 3M's products include respirators and other safety gear. Image source: Getty Images. The guidance change isn't a big deal What 3M really did in changing guidance for the full-year 2018 is pull in the top end of previous EPS guidance. Instead of $10.70, the top is now $10.55. Organic growth guidance was also pulled in slightly to 3%-4% instead of 3%-5%. These aren't big changes, but if investors start to think that growth will slow, then they will anticipate lower future earnings, and start to sell out of the stock. But if you look at 3M's organic revenue growth of 2.8% in the first quarter of 2018 , you can see that management still expects growth to pick up the pace in the final three quarters of the year. Management also said that the reduction in guidance was driven by some specific markets that were weaker than expected, with COO Mike Roman saying: We started to see the softness in Q1 coming through as we went through the month and we signaled that. Even at that point, it was specific to the market segments that we called out [Western Europe, where organic growth was down 1% in Q1]. Those played out as we thought that they would through March. If you look at April, April is starting in line with our expectations. I think the adjustment to the range was really looking to those specific markets that we saw coming through Q1. We expect to see some improvement in a couple of those areas, but that's what's driving the adjustment. Story continues While there are small points of weakness that are out of 3M's control, I think the strength in specific businesses is the reason to be bullish on the company's long-term growth. 3M's star businesses today Safety and graphics was 3M's best division, with 7% organic growth after 6% growth in 2017. 3M has spent the last few years compiling a bigger and more complementary list of products in safety, including buying Scott Safety for $2.0 billion in 2017. Scott Safety's respiratory products complement products that 3M already makes, like disposable gas masks and fire-resistant gloves, which is helping drive sales growth. Graphics could be a long-term growth market for 3M, providing markings for vehicles, buildings, and roadways that increase visibility and provide a place for valuable advertising. A recent road show of the company's products even showed through virtual reality how 3M's traffic sign, work zone, and lane markings are more easily sensed by autonomous vehicles, making them safer on the road. A technology like autonomous driving may not seem like a 3M business, but as a major supplier of lane markings and signage, the company could add value to the industry and improve safety, all while driving higher sales for 3M. The other business that stood out was industrials, which grew revenue 7.1% year over year. Automotive OEM (original equipment manufacturing) sales grew faster than the industry overall, and we may only be at the early stages of that growth. 3M has a number of high-value products for electric vehicles that go into the batteries themselves, such as cathode powders, shielding tapes, electrolytes, and insulation products that are critical componenets to a battery's assembly. As EV production increases, we might even see 3M outpace auto OEM growth overall. Carbon fiber construction might begin to grow in the auto industry ( BMW 's i3 has a carbon frame to offset the weight of batteries), and 3M is a leading supplier of the adhesives that will hold vehicles together. The industrials segment may not get a lot of attention publicly because 3M is a supplier to other businesses, but long term, this is a segment set up well for growth. Some of the weakness at 3M was seen in electronics and energy, segments that can be cyclical in nature. When smartphone sales spike or energy investment increases in 3M's target markets (for example, pipelines), these businesses will grow as well. Keep your eyes on the long-term prize One quarter won't make 3M a good or bad investment in the long term, and it shouldn't be treated that way. 3M's reasons for slightly reducing organic growth and earnings guidance were driven by macro trends outside of the company's control, and those trends could reverse in the near future. The better sign long term is that 3M is making more products that provide compelling value to customers and is ingraining itself in the design of products like cars and roadways. That should help 3M grow long term, which is why I think the discount that the market is giving investors today makes for a great buying opportunity. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Travis Hoium has no position in any of the stocks mentioned. The Motley Fool recommends 3M. The Motley Fool has a disclosure policy . || 3 Beaten-Up High-Yield Stocks: Are They Bargains or Value Traps?: Pipeline companies, for the most part, have significantly underperformed the market in recent years. Several factors have weighed on their valuations, including the lingering effects of the oil market downturn and the concern that rising interest rates will impact their ability to grow going forward. Among the hardest hit wereKinder Morgan(NYSE: KMI),Enbridge(NYSE: ENB), andEQT Midstream, which have all tumbled more than 20% over the past year.
As a result, this trio not only sells for much cheaper valuations, but their yields have risen sharply. While all three have some issues to address, their collective sell-off has them looking like bargains right now.
Instead of being traps, this three pipeline specialists seem like values ripe for the taking. Image source: Getty Images.
EQT Midstream's 20.5% decline in the past year doesn't make much sense. While there is some uncertainty because the company is in the midst of areorganizationwith its gas-producing parent, they began that process tounlock the value of the franchise. That aside, the natural gas pipelineMLPhas been firing on all cylinders, generating enough cash flow to grow its high-yield payout by 20% last year even as it covered it with cash by a comfortable 1.34 times. This combo of a big rise in the payout with an equally large drop in value has increased EQT Midstream's yield from around 4% to 6.9% in the past year. Meanwhile, the company's valuation has fallen to a compelling 11 times cash flow.
For comparison's sake, fellow MLPMagellan Midstream Partnerscurrently sells for 13.5 times cash flow. While Magellan is one of the strongest MLPs around, EQT Midstream beats it on almost every metric that matters:
[{"Company": "EQT Midstream Partners(NYSE: EQM)", "Credit Rating": "BBB-/Ba1", "Debt-to-Adjusted EBITDA Ratio": "1.6", "Coverage Ratio": "1.34", "Percentage of Cash flow Fee-Based or Regulated": "91%", "Distribution Growth Forecast": "15% to 20% for several years"}, {"Company": "Magellan Midstream Partners(NYSE: MMP)", "Credit Rating": "BBB+/Baa1", "Debt-to-Adjusted EBITDA Ratio": "3.4", "Coverage Ratio": "1.25", "Percentage of Cash flow Fee-Based or Regulated": "More than 85%", "Distribution Growth Forecast": "8% in 2018 and 5% to 8% in 2019 and 2020"}]
Data source: EQT Midstream and Magellan Midstream Partners. EBITDA = earnings before interest, taxes, depreciation, and amortization.
With numbers like that, EQT Midstream should trade at a premium valuation, which is why I think this fast-growing MLP looks like a bargain these days.
Natural gas pipeline giant Kinder Morgan has lost nearly 23% of its value in the past year, which pushed its yield from less than 2.5% to more than 3%. However, that current payout rate is a bit deceiving, as Kinder Morgan expects to boost the dividend 60% this year, which puts its forward yield closer to 5%. That's one of the many reasons why there's no logical reason for the pipeline stock's slide in the past year, especially since cash flow has been remarkably steady and is about tostart growing again in 2018. As a result, the company's valuation has fallen to the point where the stock now trades at around eight times cash flow. The average pipeline stock sells for about 12 times cash flow.
It's hard to justify that discount since Kinder Morgan has worked hard to shore up its financial position in the past few years to free up cash so it could return more money to investors. In fact, the company plans on boosting the payout 60% this year, and at a 25% annual pace in 2019 and 2020. That said, even with the rapidly rising payout, Kinder Morgan is still generating enough cash to fully fund its growth projects with plenty left over tobuy back some of its dirt-cheap shares.
Image source: Getty Images.
Canadian oil pipeline giant Enbridge has also tumbled about 23% over the past year. While Enbridge's cash flow did drop 10% on a per-share basis in 2017, that was because it issued a bunch of stock to finance expansion initiatives that drove its overall earnings up sharply. Furthermore, the company expects that to reverse this year, with it anticipating a 15% improvement in cash flow per share. However, as a result of the sell-off, Enbridge's stock trades at around 11 times cash flow, which is below the peer group average.
Another effect of the sell-off is that the oil pipeline company's dividend yield has risen from around 4% to well over 6% because Enbridge also increased its payout by double digits this year. That pace should continue through at least 2020 giventhe company's current forecast. This combination of a fast-growing income stream for a relatively cheap price makes Enbridge look like an excellent bargain these days.
For whatever reason, the market has steadily marked down the valuations of these pipeline companies over the past year. Investors can now scoop them up for bargain prices, which allows them to collect a high yield that should grow at a high rate over the next few years. That's an ideal combination for income-seeking investors.
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Matthew DiLalloowns shares of Enbridge and Kinder Morgan. The Motley Fool owns shares of and recommends Enbridge and Kinder Morgan. The Motley Fool recommends Magellan Midstream Partners. The Motley Fool has adisclosure policy.
[Random Sample of Social Media Buzz (last 60 days)]
#Scryptsy.com #BTC #Monero Fork Underway In Bid to Block Big #Miners: A planned hard fork…https://goo.gl/fb/ocyvQ8 || 04/26 18:00現在(Zaif調べ)
#Bitcoin : 952,015円↓1.75%
#NEM #XEM : 40円↓2.44%
#Monacoin : 513円↑0.79%
#Ethereum : 67,815円↓2.9%
#Zaif : 1円↑0% || ZRX-PIVX-BTG benim gördüklerim pump yediler aceba Bitcoin düşecek diye elinde olanlar ellerindekini mi çıkarıyor yoksa pumpçu grupların işimi anlam veremedim. || 3 razones por el cual el precio del #bitcoin puede que se recupere en Abril de 2018 según @CryptoCoinsNews Recordar que la inversión en criptomonedas es de alto riesgo!https://www.ccn.com/3-reasons-why-the-bitcoin-price-will-rebound-in-q2/ … || $BTC is now worth $6,610.54 (+0.07%) #BTC || Kostenlos Bitcoin schürfen mit Google Chrome alle 10 Minuten kommen neue Bitcoins auf dein Konto
Einfach im Hintergrund laufen lassen am PC
Jetzt gleich starten und sofort BTC Schürfen
https://getcryptotab.com/590308 https://getcryptotab.com/590308 || $1,750.00 Bitmain Antminer S9 - 13.5 TH/s - In Hand Ready To Ship! #Bitcoin #Mining #Cryptocurrency http://bit.ly/2tYZfzx pic.twitter.com/9X3a5sQAXB || Bitcoin Mining Training at: https://www.facebook.com/prince.apencof/posts/10216366672390082 … || $BTC #BTC #Bitcoin: $7,600.00
#tradealert
Fib R3 broken, price 7600.00 above resistance point 3 (7071.30)
#fibonacci #breakout || BTC Price: 7927.59$,
BTC Today High : 8200.00$,
BTC All Time High : 19903.44$
ETH Price: 466.30$ #bitcoin #BTC $BTC #ETH $ETH #cryptopic.twitter.com/7FZOQsvLjl
|
Trend: down || Prices: 8368.83, 8094.32, 8250.97, 8247.18, 8513.25, 8418.99, 8041.78, 7557.82, 7587.34, 7480.14
|
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 2021-07-16]
BTC Price: 31421.54, BTC RSI: 38.77
Gold Price: 1814.50, Gold RSI: 51.13
Oil Price: 71.81, Oil RSI: 48.49
[Random Sample of News (last 60 days)]
FOREX-Dollar dips after Fed rally, Bitcoin slumps: * Graphic: World FX rates https://tmsnrt.rs/2RBWI5E (Adds quotes, updates prices; changes dateline, previous LONDON) By Karen Brettell NEW YORK, June 21 (Reuters) - The dollar retreated from two-month highs on Monday as investors continued to evaluate whether a perceived hawkish tilt by the Federal Reserve last week will mean a pause in the dollar bear trend that has been in play since March 2020. The dollar has surged since the U.S. central bank on Wednesday said that policymakers are forecasting two rate hikes in 2023. That led investors to re-evaluate bets that the U.S. central bank will let inflation run at higher levels for a longer time before hiking rates. The greenback dropped on Monday but held above where it traded before the Fed’s statement on Wednesday. "There was a rush to clean out outstanding positions that were a little bit maybe too skewed towards dollar shorts," said Bipan Rai, North American head of FX strategy at CIBC Capital Markets in Toronto. Now, “the market’s trying to catch its breath a little bit before it really decides whether or not to extrapolate this trend towards a stronger dollar.” The dollar has weakened on expectations that the Fed will hold rates near zero for years to come even as the economy rebounds from COVID-19-related shutdowns. Market participants will watch speeches from Fed members this week, including comments by Fed Chair Jerome Powell on Tuesday, to see if they confirm the hawkish outlook, or try to row back market expectations of tightening. The dollar index against a basket of currencies was last down 0.26% on the day at 92.013. The euro gained 0.27% to $1.1901 and the greenback gained 0.05% to 110.30 Japanese yen. The British pound gained 0.69% to $1.3885. Some analysts say the recent market moves have been exaggerated by investors unwinding crowded trades, and that the dollar still faces weakening pressures as the global economy recovers. “The core thesis underpinning our USD weakness view has not changed drastically,” Wells Fargo analysts said on Monday in a report. “For one, the global economic recovery is still gathering pace and broadening in scope. Moreover, while the Fed’s dots sent a hawkish signal, Chair Powell continued to talk down the risks of a near-term taper. In any case the Fed still looks likely to lag many of its G10 peers in reducing accommodation,” they said. Powell said last week there had been initial discussions about when to pull back on the Fed's $120 billion in monthly bond purchases, a conversation that would be completed in coming months as the economy continues to heal. Producer price inflation data on Friday will also be in focus for any signals that price pressures may stay higher for longer, which could prompt sooner-than-expected Fed tightening. “If inflation data comes in a little bit firmer than expected, or is a little bit stickier than expected, then that could portend to more aggressive timelines for the Fed to remove accommodation,” Rai said. In cryptocurrencies, bitcoin's poor recent run continued with a 7.40% drop to $32,964, as China expanded restrictions on mining to the province of Sichuan. Cryptomining in China accounts for more than half of global bitcoin production. ======================================================== Currency bid prices at 9:51AM (1351 GMT) Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid Previous Change Session Dollar index 92.0130 92.2620 -0.26% 2.258% +92.3750 +91.9680 Euro/Dollar $1.1901 $1.1869 +0.27% -2.60% +$1.1907 +$1.1848 Dollar/Yen 110.2950 110.2500 +0.05% +6.79% +110.3300 +109.7400 Euro/Yen 131.24 130.73 +0.39% +0.00% +131.2900 +130.0600 Dollar/Swiss 0.9206 0.9232 -0.29% +4.05% +0.9236 +0.9197 Sterling/Dollar $1.3885 $1.3792 +0.69% +1.64% +$1.3896 +$1.3787 Dollar/Canadian 1.2404 1.2463 -0.48% -2.60% +1.2486 +1.2388 Aussie/Dollar $0.7510 $0.7478 +0.44% -2.36% +$0.7523 +$0.7478 Euro/Swiss 1.0954 1.0946 +0.07% +0.00% +1.0964 +1.0935 Euro/Sterling 0.8568 0.8586 -0.21% +0.00% +0.8601 +0.8561 NZ $0.6970 $0.6932 +0.56% -2.92% +$0.6982 +$0.6935 Dollar/Dollar Dollar/Norway 8.6245 8.6685 -0.50% +0.45% +8.7180 +8.6255 Euro/Norway 10.2663 10.2750 -0.08% +0.00% +10.3403 +10.2566 Dollar/Sweden 8.5683 8.5873 -0.16% +4.54% +8.6386 +8.5674 Euro/Sweden 10.1983 10.2150 -0.16% +0.00% +10.2395 +10.1976 (Reporting by Karen Brettell; additional reporting by Iain Withers in London; editing by Jonathan Oatis) || Indy 500 to Feature Bitcoin Sponsored Car in Effort To Spread Adoption: The 105th edition of the Indianapolis 500 will feature a Bitcoin sponsored car. Ed Carpenter Racing will have a fully designed BTC Chevrolet numbered 21. Popular American NTT IndyCar Series will feature the popular cryptocurrency in Sunday’s big event. The annual automobile race held at Indianapolis Motor Speedway will see cars race 200 laps to claim the title of Indy 500 winner. Ed Carpenter Racing (ECR) had announced this week that their number twenty one Chevrolet will be driven by Rinnus VeeKay, and will be sponsored by the popular cryptocurrency. The race car will be detailed in the popular BTC logo. The BTC logo is not under any copyright laws, therefore giving the team free reign to design the car as they wish. The car has also been numbered as 21 to signify the total supply of BTC, being 21 million. Source: Twitter Talking to Autoweek , team owner Ed Carpenter spoke about the idea, saying “The whole movement is amazing. I really believe that it is the future of a lot of what our financial system is going to look like. There can be a lot of volatility in it still, but the whole premise and how it’s built—there’s so many positives to it that make it so valuable in the long-term.” Racing for adoption Carpenter hopes to eventually be able to pay service providers in BTC , admitting that currently it is not a viable option, “but I see a future where that will change, and if I can be at the tip of the spear of that, it’s a fun project and one that’s also doing historic things for the Bitcoin community as well” he said. Educating the masses Carpenter admits he is an avid fan of bitcoin, and the idea behind sponsoring a BTC car will allow for the spread of adoption and awareness around the cryptocurrency. Carpenter explains “It’s about educating, whether it’s race fans or people who are maybe afraid of it or don’t understand it.” The team owner is looking to remove the stigma surrounding the digital asset, explaining that people do not understand how the crypto works. “We’re trying to help bridge that gap” Carpenter explains. Founder of Strike, Jack Mallers who assisted in sponsoring the Bitcoin race car explains that Carpenter “is racing for human freedom, financial literacy, financial inclusivity, and is using the platform he’s earned throughout his career to promote the most powerful message possible in pushing humanity forward. We’re tremendously proud to support his efforts.” The Indy 500 starts at 12:45 EST on Sunday. With Rinus VeeKay and the Bitcoin car starting third on the grid. || Riot Blockchain’s Q1 Mining Revenue Rose 881% to $23.2M: Nasdaq-listed bitcoin mining company Riot Blockchain (NASDAQ: RIOT) reported that its mining revenue soared almost 10-fold to $23.2 million during the first quarter. Riot Blockchain also reported in a 10-Q filing with the U.S. Securities and Exchange Commission that margins from its mining operations were 67.5% in the first quarter, compared with 40.4% in the same period last year. The company said total mined bitcoin rose 62% in the first quarter from the fourth quarter of 2020, with 491 bitcoin mined in the first quarter, compared with 303 BTC mined in the previous period. The average BTC price used to calculate Riot’s first-quarter mining revenue was about $46,700. Riot Blockchain reported first-quarter net income of $7.5 million, or 9 cents a share, compared with a net loss of $4.3 million, or 15 cents a share, in the year-earlier period. In April, Riot Blockchain acquired Whinstone US from Northern Data AG for $651 million in stock and cash. Whinstone was the owner and operator of North America’s largest bitcoin hosting facility, with 300 megawatts in developed capacity and a long-term power purchase agreement. Riot said it sees achieving a total hashrate capacity of 7.7 EH/s in the fourth quarter of 2022, assuming full deployment of its expected fleet of about 81,146 Antminers acquired from Bitmain, 95% of which will be the latest generation S19 series model of miners. Read more: Riot Blockchain Acquires Whinstone’s Texas Bitcoin Mining Operations Related Stories Blockstream Hosts BlockFi’s New Bitcoin Mining Venture Robinhood to Reveal IPO Filings as Early as Next Week: Report CBDCs May Be Disruptive for Financial Systems, Fitch Ratings Says Galaxy Digital Q1 AUM Rose 58%, Net Comprehensive Income More Than Doubles || Bitcoins Two Greens: Monetary Gains and Environmental Pains: This article was originally published on ETFTrends.com. When Bitcoin prices are soaring, miners of the cryptocurrency are printing green. The digital asset's green footprint is another story. A recent tweet by Tesla's Elon Musk is likely playing a part in Bitcoin's recent price slump. Earlier this month, Musk tweeted that Tesla won't accept Bitcoin as payment due to environmental concerns surrounding mining of the digital coin. That's a reversal of course from just a couple of months earlier when Tesla said it would accept Bitcoin as a form of payment for vehicles, which at the time, further stoked a then substantial Bitcoin rally. Many data points confirm the notion that Bitcoin mining is contributing to climate change in negative fashion. Bitcoin produces 36.95 megatons of carbon dioxide (CO2) annually (comparable to New Zealand) and it is estimated that in 30 years Bitcoin could alone increase global temperatures 2 degrees Celsius, writes Kelly Derham for the Sierra Club. That's the bad news. Yet with the environmental narrative taking hold, miners could be compelled to take a more proactive approach to environmental stewardship. Bitcoin mining can incentivize additional solar and battery installations whether bitcoin is in a bull market or a bear market, writes ARK crypto analyst Yassine Elmandrja . Interestingly, during the setback in bitcoins price this week, Talen Energy announced plans to raise $800 million and build two bitcoin data centers, including one to mine cryptocurrency, for this purpose. Another good news/bad news scenario is that nearly two-thirds of global bitcoin mining occurs in China. The world's second-largest economy has cheaper electricity than other major economies, making Bitcoin mining attractive, and is, to the chagrin of climate change activists, bringing new coal-fired plants online. However, Beijing is also making pollution reduction one of the centerpieces of its domestic economic agenda. China is already one of the largest consumers of renewable energy in the world. Story continues Prior ARK research indicates that an electrical grid system fueled by battery and solar systems that allots for Bitcoin mining could drive an increasing percentage of electricity from renewable carbon-free sources over time, according to Elmandjra. For more news, information, and strategy, visit the Crypto 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 Six ETFs to Consider on the Dows 125th Birthday Is a Surge beyond 2% Inflation Concerning? Crude Oil ETFs Surge Again as Analysts Project More Upside Innovator ETFs Announces Upside Cap Ranges for June Series of Buffer ETFs A Prominent Transportation ETF Is Making a Modern Update READ MORE AT ETFTRENDS.COM > || CleanSpark Using Microgrids to Improve Bitcoin Mining Sustainability: The Utah-based CleanSpark is attempting to boost the efficiency of Bitcoin mining as environmentalists continue to fight against crypto mining. CleanSpark, a cryptocurrency mining firm deep in the woods of Utah has announced the development of a more sustainable alternative mining solution using microgrids. Basically, the idea of Microgrids is that it will combine the currency system of powering a mine with solar, wind, fuel cell, hydro, and other green technologies . This is done to balance out the negative impact of sustainable energy utilization. CleanSpark claims that even the most hardcore environmentalists will be on board with the measures they are taking to protect the earth. The method in which CleanSpark is hoping to solve these issues is by utilizing what is called microgrid technology. It will allow the company to get the majority of its power from one single plant instead of chaining multiple sources together. What makes this process special for CleanSpark is the source of their power will be supplied from solar, wind, and hydroelectricity. The company claims that the new method for mining will not only boost the hash rate but also cut down on electrical usage at the same time. A study from Navigant Research in Boulder, CO, stated that almost 30% of crypto mining energy will come from microgrid technology before the end of the decade. “Although they are a minority portion of the market if measured by peak capacity, modular microgrids have the potential to make up most of the systems deployed over the next decade. Taking a modular approach is expected to help radically scale up microgrid deployments by commoditizing standard microgrid offerings that can be pieced together.” The environmental effect of mining becoming a bigger issue The negative impact that crypto mining has been a hot-button topic for the last few months, with activist groups rising up against the industry and even entire nations taking a stand against crypto mining. Big names such as Kevin O’Leary and even Elon Musk have spoken out against the rigorous process of mining, albeit after touting bitcoin to their followers in various ways. Musk even went so far as to backtrack his promise to allow bitcoin as a form of payment at Tesla until global mining was around 50% sustainable . O’Leary, who has changed his opinion on cryptocurrencies before, said that he would no longer buy any bitcoin mined in China . O’Leary believes China does not employ environmentally friendly methods for extracting coins. The microgrid approach will need a lot of fine-tuning and system configuration, but if successful, can be the solution to the growing concern about the energy used to mine bitcoin. || Bluesky Digital Assets Corp. Files Its 2020 Audited Financial Statements: Toronto, Ontario--(Newsfile Corp. - May 31, 2021) - Bluesky Digital Assets Corp. (CSE: BTC), (CSE: BTC.PR.A), (OTCQB: BTCWF), ("Bluesky" or the "Corporation") announced today that it has completed and filed onto SEDAR the Corporation's audited annual financial statements for the year ended December 31, 2020, the related management's discussion and analysis, and the related CEO and CFO certificates for the year ended December 31, 2020. The delay of the completion and the filing of the Audit was primarily caused due to the Covid-19 stay at home order enacted by the Province of Ontario in April of this year. Due to the delay in the filing of the Corporation's 2020 Audited financial statements, the Corporation will also be late in the filing of its interim financial statements for the three month period ended March 31, 2021 and the associated management's discussion and analysis (collectively the "Q1 2021 Filings"). The Corporation is currently under a Management Cease Trade Order "MCTO" which expires on June 15, 2021, and will remain under the MCTO until the Corporation is up to date in its mandatory financial reporting requirements. The MCTO does not affect the ability of shareholders who are not insiders of the Corporation to trade their securities however the applicable Canadian securities regulatory authorities could determine, in their discretion, that it would be appropriate to issue a general cease trade order against the Corporation affecting all of the securities of the Corporation. The Corporation anticipates completing the Q1 2021 Filings before June 15, 2021. Until the Q1 2021 Filings have been filed, the Corporation intends to continue to satisfy the provisions of the alternative information guidelines set out in NP 12-203 by issuing bi-weekly default status reports in the form of further press releases, which will also be filed on SEDAR. About Bluesky Digital Assets Corp. Bluesky Digital Assets Corp, is building a high value digital currency enterprise. Bluesky mines digital currencies, such as Bitcoin and Ether, and is developing value-added technology services for the digital currency market, such as proprietary technology solutions. Offering a complete ecosystem of value-creation, Bluesky is targeting reinvesting appropriate portions of its digital currency mining profits back into its operations. A percentage of the profit will be invested in the development of a proprietary Artificial Intelligence ("AI") based technology. Overall, Bluesky takes an approach that enables the Corporation to scale, and respond to changing conditions, within the still-emerging Blockchain industry. The Corporation is poised to capture value in successive phases as this industry continues to scale. Story continues For more information please visit Bluesky at: https://www.blueskydigitalassets.com For further information please contact: Mr. Ben Gelfand CEO & Director Bluesky Digital Assets Corp. T: (416) 363-3833 E: [email protected] Mr. Frank Kordy Secretary & Director Bluesky Digital Assets Corp. T: (647) 466-4037 E: [email protected] Forward-Looking Statements Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward- looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such. Neither CSE nor its Regulation Services Provider as that term is defined in the policies of the CSE accepts responsibility for the adequacy or accuracy of this release. We seek safe harbor. - 30 - To view the source version of this press release, please visit https://www.newsfilecorp.com/release/85969 View comments || Bitcoin, Ether Bounce After Disastrous Week for Crypto Market: The crypto market is going through a relief rally on Monday as bargain hunting is helping major coins regain some poise following last week’s drubbing.
Bitcoin, the top cryptocurrency by market value, is changing hands near $36,500 at press time, representing a 5% gain on the day. The rise comes after a 25% decline over the week ended May 23 – the second straight weekly loss and the biggest since March 2020, per CoinDesk 20 data.
Ether, the second-largest cryptocurrency, is trading 8% higher at $2,257 (up 7.6%), having dropped by 41% over the same period – its most significant weekly decline on record.
Related:As Bitcoin Gyrates Wildly, Some Traders Start to Bet on Things Calming Down
Other prominent coins including Binance’s BNB token, internet computer protocol (ICP) ,bitcoin cashandpolkadotare seeing 8% to 10% gains. Coins associated with decentralized finance (DeFi) such asLINKandUNIare trading 22% and 13% higher, respectively.
Demand from wealthy investors looks to have brought relief to the battered cryptocurrencies. “Crypto funds, macro funds, opportunistic venture capitalists are beginning to buy this dip in BTC, ETH as well as blue-chip DeFi by staggering limit orders and running longer time-weighted average prices,” crypto financial services providerAmber Group tweetedearly Monday.
The dip-buying shows large investors remain confident of long-term bullish prospects of cryptocurrencies in the wake of recent environmental and regulatory concerns. “The long-term thesis for crypto remains unchanged. Inflation, decentralization, privacy, programmability, seizure-resistance, and censorship-resistance …these are the secular drivers of adoption,” angel investor and entrepreneurBalaji Srinivasan tweeted.
The market mood soured earlier this month after the U.S. electric car maker Tesla suspended vehicle purchases with bitcoin, citing high fossil-fuel use by miners. The surprise move dampened hopes for increased corporate adoption triggered by the company’s decision to enlist bitcoin as a payments alternative in February.
Related:Compute North to Host Marathon’s 73K New Bitcoin Miners in Texas
Further, China, which supposedly accounts for most of the computing power dedicated to bitcoin’s blockchain, reiterated its ban on cryptocurrency mining last week, drawing additional selling pressure for the cryptocurrency.
Bitcoin fell to a 3.5-month low of $30,000 last week, marking a 53% drop from the record high of $64,801 reached on April 14. Meanwhile, ether fell to below $2,000.
The downturn was largely the result of selling by “weak hands” and short-term traders. “From the end of April until now, wallet addresses holding bitcoin for less than one month dropped from 5.06 million addresses to 4.37 million, a loss of 690,000,” theDefiant Newslettersaid on May 18.
However, the number of addresses holding bitcoin for more than one year, dubbed as “holders” by IntoTheBlock, increased by 120,000 from 21.81 million to 21.93 million.
Moving ahead, a V-shaped recovery to $50,000 and higher may remain elusive, as the recent sell-offhas shaken investor confidence. Moreover, according to some observers, the market may soon receive more negative news out of China. On Friday, a top Chinese governmental bodycalled for a crackdownon cryptocurrency mining, amplifying regulatory concerns.
Some industry experts believe the negative news has been priced in, and the psychological support at $30,000 is likely to hold.
“Historically, such news from China (regarding mining and trading bans) have resulted in major drops for BTC, and this time is no different,” Joe DiPasquale, CEO of BitBull Capital, said. “However, like the previous instances, BTC does recover, and the latest news isn’t reflecting any new developments per se.”
Also read:Institutional Bitcoin Buying Spiked Around Wednesday’s Crash
“Moving forward, $30,000 is a strong support and we can expect it to hold for now,” DiPasquale added.
• Institutional Crypto Exchange LMAX Digital Hit Record $6.6B Volume on Bitcoin’s ‘Black Wednesday’
• Bitcoin Holds Short-Term Support; Faces Resistance at $40K || TRB, RLC and DIA : Oracle Tokens Validate Long-Term Support Levels: Tellor (TRB) has bounced at an ascending support line, but has failed to confirm its bullish trend. iExec RLC (RLC) is attempting to break out from the horizontal resistance level at $4.40. DIA (DIA) has bounced at a long-term ascending support line and is showing bullish reversal signs. TRB TRB decreased considerably after reaching an all-time high price of $164.05 on May 10. It fell by 79.40% in only 13 days, culminating with a low of $33.77 on May 23. It has been moving upwards since. The low validated a long-term ascending support line, in place since Dec. 2020. Afterwards, the token created a higher low on June 12, validating the line once more (green icon). Despite the bounce, technical indicators are providing mixed signs. While the MACD is increasing, it is not positive yet. In addition, the RSI is still below 50 while the Stochastic oscillator has made a bearish cross. Chart By TradingView The two-hour chart shows that TRB has bounced at the 0.786 Fib retracement support level (green icon). However, similar to the daily time-frame, technical indicators provide a mixed outlook. Despite this, the decrease looks like an A-B-C corrective structure, which ended with the aforementioned bounce. In this case, an upward move towards the closest resistance area of $83.4 would be expected. This is the 0.382 Fib retracement resistance level (white). However, the direction of the longer-term trend cannot be determined. Chart By TradingView Highlights TRB is following an ascending support line. Technical indicators are neutral. RLC RLC reached a low of $3.1 on May 19, but bounced almost immediately afterwards. The upward movement was sharp, leading to a high of $8.93 only two days later. However, RLC has been falling alongside a descending resistance line since. On June 8, it broke down below the $4.40 area, which had been acting as support (green icon). However, the token initiated another upward movement and broke out on June 13, making a breakout attempt the next day. However, it was rejected by the $4.40 area (red icon), which is now acting as resistance. Story continues Technical indicators are neutral/bullish. The RSI is attempting to move above 50 but has not yet done so. The MACD is moving upwards but has lost strength. At the time of writing, we cannot determine whether RLC will break out or not. Chart By TradingView Highlights RLC is facing resistance at $4.40 It has broken out from a descending resistance line. DIA DIA has been falling since it reached an all-time high price of $5.8. The drop continued until a low of $1.25 was reached on May 23. The token has been moving upwards since. The May 23 low validated an ascending support line that has been in place since Oct. 2020. On June 12, DIA created its first higher low. Both the RSI & MACD have generated bullish divergence. This is a strong sign of a bullish reversal. Therefore, the most likely movement would have the token increasing towards the $3 resistance area, which is the 0.382 Fib retracement resistance level. Chart By TradingView Highlights DIA is following an ascending support line. There is resistance near $3. For BeInCryptos latest bitcoin (BTC) analysis, click here. || Bitcoin Seized by Ohio DOJ Sold for More Than $19M: Reports: Bitcoin seized in a fraud investigation by the U.S. Department of Justice (DOJ)s Northern District of Ohio returned $19.2 million when sold, The Blade reported. The crypto was seized from Mark Simon, an Ohio man arrested and convicted for producing and selling false identification documents, such as drivers licenses. Simons clients paid for the documents in bitcoin. An initial indictment of Simon and his alleged accomplices in March 2018 stated that prosecutors were seeking to forfeit 500 BTC, worth an estimated $5.1 million at the time. The bitcoin was worth around $2.9 million when surrendered to the federal government in 2019, The Blade said. The bitcoin were sold for more than $19 million, the report said, citing Acting U.S. Attorney Bridget Brennan. It was the largest net forfeiture in Northern District of Ohios history, she said Thursday. Simon pleaded guilty. He was sentenced to 24 months in prison and agreed to the forfeiture of the crypto. Related Stories Fake Covid Certificates, Stolen Vaccines Sold on Dark Web for Bitcoin South Africa to Accelerate Crypto Regulation in Wake of Scams: Report Gerald Cotten and Quadriga: Unraveling Cryptos Biggest Mystery UK Bank NatWest Limits Amount Users Can Transfer to Crypto Exchanges || World’s Largest Meat Company Pays $11M in Bitcoin Ransomware Attack: JBS Holdings, the world’s largest meat company by sales, paid $11 million in its May 30bitcoinransomware attack, attempting to avoid further disruption to its business.
As reported byThe Wall Street Journalon Wednesday, payment was made to a group, REvil, which left no trace as to how it managed to infiltrate the company’s systems. The attack shares similarities with theColonial Pipeline ransomware attackthat occurred on May 14.
Based on the forensic analysis conducted by JBS, no customer, supplier or employee data was compromised in the attack.
Related:US Consumer Prices Rise Faster Than Expected in May
Payment was made as an attempt to cushion the impact the attack placed on business procedures and JBS partners, including restaurants, grocery stores and farmers, according to Andre Nogueira, CEO of JBS SA’s U.S. division.
“It was very painful to pay the criminals, but we did the right thing for our customers,” said Nogueira. The company head also said the ransom was paid after most of the JBS plants were functioning and operational.
JBS learned of the attack on May 30 after staff began to notice irregularities with their servers. A message demanding a ransom in bitcoin soon made it clear that JBS was dealing with a sinister actor, per the report.
See also:State of Crypto: Ransomware Is a Crypto Problem
Related:Bitcoin Rallies From Oversold Levels; Faces Resistance at $40K
Shortly thereafter, JBS alerted the U.S. Federal Bureau of Investigation while the company’s technology staff began closing down the meat supplier’s systems to stymie the attacker’s advance, said Nogueira.
Luckily for the meat producer, JBS manages secondary backups of its data that are encrypted, Nogueira told the Journal. But while restoring its systems, JBS admitted to paying the ransom to ensure against further attacks from REvil.
“We didn’t think we could take this type of risk that something could go wrong in our recovery process,” Nogueira said. “It was insurance to protect our customers.”
• Bitcoin Peeps Above $38K on Basel News
• Bitcoin’s ‘Rich List’ Continues to Snap Up Cheap Coins
[Random Sample of Social Media Buzz (last 60 days)]
None available.
|
Trend: up || Prices: 31533.07, 31796.81, 30817.83, 29807.35, 32110.69, 32313.11, 33581.55, 34292.45, 35350.19, 37337.54
|
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 2020-12-23]
BTC Price: 23241.35, BTC RSI: 68.04
Gold Price: 1874.70, Gold RSI: 54.36
Oil Price: 48.12, Oil RSI: 63.99
[Random Sample of News (last 60 days)]
COVID and Big Tech Burnout Are Pushing Social Tokens Mainstream: In 2020, COVID-19 forced creators, brands and artists to rethink their fan monetization and engagement strategies. Many turned to virtual engagements and live streaming. Others experimented with platforms like Patreon or tried to double down on monetizing their social media platforms like YouTube and Twitch. In our industry, it was social tokens that made the rare leap from crypto circles to consumer audiences.
Before this year, social tokens were an intriguing but mostly hypothetical alternative or additive way for creators, artists and brands to connect with their fan communities.
This post is part of CoinDesk’s2020 Year in Review– a collection of op-eds, essays and interviews about the year in crypto and beyond. Kevin Chou is Founder of Rally, an open platform that allows creators, celebrities and brands to launch their own currency.
Related:You Say You Want a Bitcoin Revolution
It didn’t take long for influential celebrities to see the value once the foundational tech was actually built. Akon, Ja Rule and Lil Yachty all announced tokens this year. The NBA’sSpencer Dinwiddieand Japanese superstar soccer playerKeisuke Hondalaunched tokens too with esports and gaming seemingly on deck next.
Recently,Esports Insidernoted, “esports is prime real estate for custom currency.” The diverse array of use cases that each of these social tokens offers is a testament to how far crypto has progressed when it comes to producing real-world usage and value instead of offering a solution for a problem that doesn’t exist.
The last few years have really taken their toll on creators who feel burned and burned out by big tech social platforms. It’s no secret that platforms rake in huge profits andoften give creators the raw end of the deal. The rules areconstantly changingand no matter how neutral a platform claims to be,there are always inherent biasesbehind their decisions to censor content. Creators can bedeplatformedthrough unilateral decisions made by the platform, over which creators can exercise little or no control.
See also:Rapper Lil Yachty Sells Out Social Token in 21 Minutes
Related:Where Peer-to-Peer Finance Grabbed Hold This Year
Instead of building a large platform’s revenuewhile only getting a small piece of it, creators are excited by the idea of using their own token to build their own economies and interact with fans on their terms, instead ofon the whims of the platform. Blockchain takes the decision-making process out of the hands of large platforms and into the hands of creators and their fans and community members. It’s up to the creators and their communities to decide how the creator’s social token will be used and valued.
In some sense, celebrities have given crypto a bad name. In 2017, there were several influencers who hyped dubious token projects. Traders piled money into initial coin offerings with unclear roadmaps and ultimately little intrinsic value.
This year saw a shift towards actual value creation and control. Instead of just advertising an ICO, influencers are plugging social tokens into their existing community-building efforts. Some have deployed personal tokens on apps like Discord to enable token-permissioned chats and channels. By integrating tokens into their existing communities, rather than duping their fans into investing in third party token projects, these creators are adding value to their brands and proving the useability of cryptonomics.
It’s up to the creators and their communities to decide how the creator’s social token will be used and valued.
Perhaps if bitcoin’s bull run continues, we’ll see celebrities likeLogicandMaisie Williamscreate their own currencies. But one thing is certain, the conversation will shift from what creators arelaunchingtokens to what they aredoingwith their tokens, grading social tokens on their usability and utility.
Creators, artists and brands and their fans will need to keep their guard up against crypto projects offering pump-and-dump mechanisms for short-term gains that will ultimately be a detriment to their relationships with their fans. Instead, they will need to focus on the long term and partner with crypto projects that aim to build richer solutions to community management and monetization.
The coming year will be one of experimentation where influencers will tap crypto to engage their fan bases with token-permissioned chat, voice and video functionality. We’ll likely see a ton of new activity. Discord community servers will launch their own social tokens as well. Artists will explore tokenized meet-ups, crowdfunding, and we’ll likely see social tokens plugged into the decentralized finance (DeFi) community as collateral for lending/borrowing.
As more developers get in on the action, DeFi enthusiasts build out the financial infrastructure, and celebrities bring their fan bases into crypto, social tokens will go down in history as a bright spot of 2020.
• COVID and Big Tech Burnout Are Pushing Social Tokens Mainstream
• COVID and Big Tech Burnout Are Pushing Social Tokens Mainstream || Bitcoin Mining Stocks Soar as BTC Blows Past $20K: Share prices for publicly traded bitcoin mining companies are soaring as the leading cryptocurrency sliced through the highly anticipated $20,000 mark Wednesday morning. Riot Blockchain ( RIOT ), Marathon Patent Group ( MARA ) and Hive Blockchain ( HIVE ) all show double-digit percentage gains since the daily open at last check. Hive is up 25% on the day. All three companies are now individually worth over $450 million. Toronto-based Hut 8 ( HUT ) mining gained nearly 9% since the trading started Wednesday. The company currently is worth $168 million. Over the same period, bitcoin gained 7%. Mining stocks are a very attractive way for investors to get upside exposure to [the] bitcoin price while being limited on the downside due to the infrastructure nature of the business, Ethan Vera, co-founder of mining company Luxor Technologies, told CoinDesk earlier this month. The best mining companies can deliver profits in bear markets and have outsized returns in bull runs, Vera said. Year to date, bitcoin has gained over 185%. Related Stories Bitcoin Mining Stocks Soar as BTC Blows Past $20K Bitcoin Mining Stocks Soar as BTC Blows Past $20K Bitcoin Mining Stocks Soar as BTC Blows Past $20K Bitcoin Mining Stocks Soar as BTC Blows Past $20K || BTC-e Operator Vinnik Sentenced to 5 Years in Prison on Money Laundering Charges: Alexander Vinnik, an alleged operator of the now-defunct cryptocurrency exchange BTC-e, was sentenced to a five-year prison term for money laundering on Monday.
A court in Paris found the Russian national Vinnik guilty of money laundering, though French prosecutors alsochargedVinnik with “extortion, conspiracy and harming automatic data-processing systems.” They alleged that, in particular,he helped to developthe Locky malware. These other charges were dropped by the court today.
Vinnik wasextraditedto France from Greece at the beginning of 2020, where he’d been since his 2017 arrest. Vinnink wasarrestedat a resort near the city of Thessaloniki at the request of the U.S. Department of Justice (DOJ).
Related:French Judge Orders Trial of Alleged BTC-e Operator Alexander Vinnik
The DOJ named him as a mastermind behind one of the first cryptocurrency exchanges, BTC-e, andindictedhim on allegations of “computer intrusions and hacking incidents, ransomware scams, identity theft schemes, corrupt public officials and narcotics distribution rings.” The exchange was shut down at the time, with its domain seized by the FBI. The exchange soonreemergedunder the name WEX, butwent downjust one year later.
After Vinnik’s arrest, the U.S., Russia and France fought for his extradition, with France ultimately winning. The U.S. is still seeking to get Vinnik, said attorney Frederic Belot, who represents Vinnik. He declined to explain how this could be achieved.
Belot believes Vinnik had a chance for total acquittal if he participated in the court investigation during this year. He chose not to do so on the advice of his other two lawyers, Zoe Konstantopoulou and Ariane Zimra, who had been working with the defendant before Belot joined the case, Belot said.
Belot said all the proof of Vinnik’s criminal behavior was provided to the French prosecutor by the FBI. The authenticity of those documents could have been contested if Vinnik took a more active role in the investigative process.
Related:French Officials Move to Start Trial of Alleged BTC-e Operator Alexander Vinnik
“Alexander decided to keep silent and not to ask anything or reply to any questions of the judge. And the consequence we can see is that Alexander is sentenced guilty,” Belot said.
Zimra told CoinDesk that Vinnik, on the contrary, “wanted to cooperate very much and said so,” but he didn’t have access to his file in Russian, his native language, so he “couldn’t defend himself nor know what was held against him.” Zimra did not clarify if Vinnik actually responded to questions from the court or not.
According to Zimra, Vinnik has two kids in Russia and his wife died of cancer on Nov. 11. The kids, aged six and nine, now live with their grandmother, Vinnik’s mother, Belot said.
• BTC-e Operator Vinnik Sentenced to 5 Years in Prison on Money Laundering Charges
• BTC-e Operator Vinnik Sentenced to 5 Years in Prison on Money Laundering Charges || ShapeShift Delists Privacy Coin Zcash Over Regulatory Concerns: ShapeShift, the Colorado-based cryptocurrency exchange that allows users to self-custody their assets, has delisted another privacy coin. Zcash has been removed from the trading platform in addition to monero and dash . Decrypt reported last Friday that XMR and DASH had been quietly removed; the delisting of ZEC was not noted. Weve taken down the privacy coins because of their regulatory concerns, Veronica McGregor, ShapeShifts chief legal officer, told CoinDesk in an interview. At least for the moment, were not working with those coins. Related: Volume Surge Brings 25% Turnover to 'CoinDesk 20' XMR, DASH and ZEC were delisted at the same time for the same reason to further derisk the company from a regulatory standpoint, McGregor wrote in a follow-up email. ZECs removal is somewhat notable because the company invested in the Electric Coin Company, one of the creators of zcash, in 2016, and listed ZEC that October . ShapeShift has become increasingly cognizant of regulators, despite its founder once having a reputation as a rebel and libertarian . Formerly, the platform allowed crypto trading without any kind of account or login, but in September 2018 ShapeShift began requiring customers to reveal their identities to the exchange. Later that month, it faced scrutiny after a Wall Street Journal report alleged that ShapeShift had been widely used for money laundering (ShapeShift strongly refuted the claims ). Privacy coins and bank cops Related: Market Wrap: Bitcoin Jumps to $14.2K; Ethereum Gas Usage Grows 113% YTD A September report from the law firm Perkins Coie about privacy-enabling cryptocurrencies noted that XMR is a cryptocurrency which is private by default, in that all transactions are made so that only the sender and receiver should know who participated. ZEC and DASH both make privacy optional. Read more: Monero and Zcash Conferences Showcase Their Differences (and Links) Story continues Peter Van Valkenburgh is director of research at Coin Center and a member of the Zcash Foundation board. He explained to CoinDesk in a phone call that guidance from the U.S. Financial Crimes Enforcement Network, or FinCEN, basically says, you have to make sure you are taking reasonable steps from a cost-benefit analysis to stop the proceeds from crime from flowing through your institution. Because many cryptocurrencies, such as bitcoin , make all transactions and balances public, he explained, working with blockchain surveillance firms like Chainalysis or Elliptic can be enough to be seen as taking reasonable steps. That said, privacy-preserving cryptocurrencies will be treated, Van Valkenburgh said, like someone who shows up at a bank with a large bag of cash. They may be subject to greater scrutiny or more thorough background checks (as possible examples). To my knowledge, FinCEN has fairly clearly articulated to regulated crypto companies that there is a way to comply, just as banks deal with cash, Van Valkenburgh said. Read more: SEC, CFTC, FinCEN Warn Crypto Industry to Follow US Banking Laws Though he also offered the caveat that a particular agency or a particular regulators zeal can be enough to discourage a company from engaging in a line of business, even if no action is taken against them. The Bank Secrecy Act is extremely broad. It affords prosecutors and regulators with a whole lot of powers, he said. That vagueness about our financial surveillance laws to me is problematic. CoinDesk reached out to other U.S. crypto exchanges that list privacy coins but did not receive responses by press time. Ian Allison contributed reporting. Correction (Nov. 10, 19:39 UTC): Corrects the date of when ShapeShift was featured in a Wall Street Journal report on alleged money laundering. Also adds links to ShapeShifts refutations of the WSJ report. Related Stories ShapeShift Delists Privacy Coin Zcash Over Regulatory Concerns ShapeShift Delists Privacy Coin Zcash Over Regulatory Concerns || Market Wrap: Bitcoin Recovers to Nearly $24K; Ether Rides Bitcoin’s ‘Coattails’: Bitcoin’s price recovered quickly from Monday’s small market sell-off, approaching a new resistant level at $24,000 Tuesday. Traders and analysts said it is because demand has continued to rise despite minor negative market movement.
• Bitcoin(BTC) trading around $23,433.85 as of 21:00 UTC (4 p.m. ET). Gaining 2.64% over the previous 24 hours.
• Bitcoin’s 24-hour range: $22,384.13-$23,629.40 (CoinDesk 20)
• BTC above its 10-hour and 50-hour averages on the hourly chart, a bullish signal for market technicians.
There were few reactions from the market on Monday’s sharp drop to Tuesday’s fast recovery.
“The bitcoin market is highly levered at the time and volatility spiked sharply with the $20,000 break,” said macro cryptocurrency analyst Alex Kruger. A “$1,000 move (~5%) under current circumstances is rather ordinary. Expect such price action to continue until leverage and [trading] volumes come down.”
Related:Bitwise Liquidates XRP Position in Crypto Index Fund Following SEC Suit Against Ripple
With most people already headed out for the holidays, bitcoin’s trading volumes on the eight major exchanges tracked in the CoinDesk 20 have not come down since November.
It is possible Monday’s small drop in pricing was viewed as another great opportunity for many new and big players in the crypto space, traders and analysts told CoinDesk, and that partly drove the quick recovery on bitcoin’s price on Tuesday. It is now approaching $24,000.
Read More:Riot Purchases Additional 15,000 Mining Machines From Bitmain
“Regardless of the short term, the trend is showing demand rising for bitcoin, especially by big players that want to get into the crypto market,” said Alessandro Andreotti, an over-the-counter crypto trader, who also said $24,000 will be the next resistance level.
Related:First Mover: XRP Plunges 20% as Traders Assess SEC's Ripple Suit
“If it was my guess, the dump was related to macro fears related to the coronavirus,” Ryan Watkins, research analyst at Messari, told CoinDesk. “I think it’s pretty clear the bullish trend is intact and I expect dips to be bought from here on out.”
Another potential reason for recent volatility is the differing attitudes towards bitcoin by investors in different parts of the world.
“European and American institutions are bullish, Asian retail investors are bearish,” Simons Chen, executive director of investment and trading at Hong Kong-based crypto lender Babel Finance, told CoinDesk. “Therefore, prices have remained volatile recently. But as traditional institutions continue to enter the market, a new price rally is only a matter of time.”
Notably, bitcoin’s price traded lower during Asia trading hours, but has been trending up since the markets opened in the U.S. Tuesday.
Bitcoin’s volatility has remained much higher than the volatility of the S&P 500 stock index and of gold, and has gone up since October, according to data compiled by CoinDesk.
Read More:Scaramucci’s Skybridge Invested $25M in New Bitcoin Fund
The second-largest cryptocurrency by market capitalization,ether(ETH), was up Tuesday, trading around $626.26 and climbing 2.35% in 24 hours as of 21:00 UTC (4:00 p.m. ET).
Like most of the other cryptocurrencies, ether’s price has followed bitcoin’s recovery, yet it has still largely underperformed the oldest cryptocurrency.
Ether “looks to simply be riding the coattails of bitcoin,” Vishal Shah, an options trader and founder of derivatives exchange Alpha5, said. “All said, the ether/bitcoin cross continues to grind in favor of bitcoin, and there’s limited reason to see that derail. Ether could continue to underperform.”
Digital assets on theCoinDesk 20are mixed Tuesday. Notable winners as of 21:00 UTC (4:00 p.m. ET):
• litecoin(LTC) + 6.01%
• cardano(ADA) + 3.09%
• algorand(ALGO) + 3.83%
Notable losers:
• xrp(XRP) – 10.91%
• orchid(OXT) – 5.44%
• 0x(ZRX) – 2.31%
Read More:An SEC Victory in Ripple Case Would Render XRP ‘Untradeable,’ Market Pros Say
Equities:
• Asia’s Nikkei 225 closed in the red 1.04% as anew coronavirus strain in the U.K. threatens the global economy recovery.
• The FTSE 100 in Europe closed higher by 0.57% on Tuesday,a small recovery from Monday’s sell-off on the U.K.’s new coronavirus concerns.
• The S&P 500 in the United States was down 0.21% asinvestors seek direction from the potential impact of the new variant of coronavirus found in the U.K.
Commodities:
• Oil was down 2.19%. Price per barrel of West Texas Intermediate crude: $46.93.
• Gold was in the red 0.89% at $1859.93 as of press time.
Treasurys:
• The 10-year U.S. Treasury bond yield fell Tuesday dipping to 0.92 and in the red 0.05%.
• Market Wrap: Bitcoin Recovers to Nearly $24K; Ether Rides Bitcoin’s ‘Coattails’
• Market Wrap: Bitcoin Recovers to Nearly $24K; Ether Rides Bitcoin’s ‘Coattails’ || XRP Rises More Than 30% as Altcoins Piggyback on Bitcoin’s Wave: XRP has surged to 16-month highs, leading a pack of cryptocurrencies all benefiting from bitcoin’s rally toward historic levels.
XRP, the native asset of the XRP ledger, developed by payment-focused blockchain firm Ripple Labs, climbed to as high as $0.437564 before retreating to $0.413853 at press time, reaching the highest price point since July 2019, according toThe CoinDesk 20.
The third-largest cryptocurrency by market value has gained over 33% in the past 24 hours, extending the year-to-date gain to 116%.
Related:Market Wrap: Bitcoin Hits $18.8K as Total Crypto Locked in DeFi Passes $14B
Other alternative cryptocurrencies such asether,litecoin,cardano,bitcoin SV,EOS,tezosandtronare also flashing green. Most of these coins have picked up a bullish momentum in the past few days, seemingly trackingbitcoin‘s fast move toward the record high of $19,783 reached in December 2017.
“Altcoins are high beta assets and usually move in the same direction as bitcoin, but more,” trader and analystAlex Kruger tweetedon Friday. Alternative cryptocurrencies can be considered as leveraged bitcoin plays, according to Kruger.
Bitcoin, the top cryptocurrency by market capitalization, has charted a steep rally from $10,000 to nearly $19,000 in the past eight weeks.
At the currency price of $18,736, bitcoin is a little over 5% from setting a new lifetime high, while XRP is still down about 89% from its record high of $3.84 set in January 2018,according todata source Messari.
Related:Market Wrap: Bitcoin Hangs Around $18K While Ether Locked in DeFi Declines
XRP and other altcoins may also be rising in reaction to a proposed rule by the U.S. Office of the Comptroller of the Currency that would forbid banks to blacklist legal industries – including, presumably, cryptocurrency firms. The proposed rule is likely welcome news to businesses in the space, which have long struggled to obtain, or keep, bank accounts in the U.S.
• XRP Rises More Than 30% as Altcoins Piggyback on Bitcoin’s Wave
• XRP Rises More Than 30% as Altcoins Piggyback on Bitcoin’s Wave || Blockchain Bites: BlockRock Exec Says Bitcoin Is ‘Here to Stay,’ Investors Load Into BTC Puts: Major bitcoin miners are signaling their support for the network’s Taproot upgrade. Institutional buyers are loading up on BTC puts, Deribit analysts say. Goldman Sachs thinks the “digital yuan” could be in a billion hands in a decade. Top shelf BlackRock Squawks A top BlackRock executive, in charge of where the world’s largest asset manager invests its fund, said that bitcoin could take the place of gold , because it is “so much more functional than passing a bar of gold around.” Appearing on CNBC’s Squawk Box, BlackRock CIO of Fixed Income Rick Rieder also said, “I think cryptocurrency’s here to stay, I think it is … durable.” While this is a vote of confidence of digital payment systems, and a leading bitcoin “narrative” as an inflation hedge, Rieder said he’s not particularly a bitcoin bull and doesn’t include it much in business and corporate portfolios. Further, it’s not clear if bitcoin is worth its current price of over $18,000 price, he said. Options, options Investors are buying bitcoin put options , possibly signaling future volatility or a market drawdown. The one-month implied volatility, which is influenced by the demand for call and put options, jumped from roughly 55% to a four-month high of 70.5% in the past two days, suggesting increased expectations for price turbulence over the next four weeks. Further, Deribit Insights found several institutions have bought put options. This doesn’t necessarily signal a correction, CoinDesk’s Omkar Godbole reports, “but could be a hedging strategy against a long or bullish position in the spot market.” Related: Bitcoin Is the Biggest Big Short Taproot support Bitcoin mining pools representing over 54% of the network’s current hashrate have signaled support for the scaling and privacy protocol upgrade Taproot, merged into Bitcoin Core last month. Bitmain’s Antpool backed the protocol upgrade Thursday morning, joining five other pools in a collective Taproot Activation initiative. Taproot aims to improve transaction privacy and enhance Bitcoin’s smart contract functionality. It’s also designed to keep Bitcoin’s blocks small, with block space as accessible as possible. Story continues 1B users Goldman Sachs analysts think China’s digital yuan could account for 15% of total consumption payments in 10 years. “In ten years we expect DC/EP to reach 1 billion addressable users, 1.6 trillion rmb ($229 billion) in issuance, 19 trillion rmb ($2.7 trillion) in annual Total Payment Value (TPV) and account for 15% of total consumption payments,” a Nov. 17 report reads. This gain in users could help commercial banks gain back ground from fintech companies, which currently dominate the payment scene in China. Star struck Mingxing “Star” Xu, founder of OKCoin and CEO of OK Group, has been reportedly been released from detention by Chinese authorities. According to a report by Bloomberg Thursday, Xu appeared on a private social media platform to post that he had been cooperating with an investigation relating to an equity merger that OK Group had finalized years prior. “The authorities have clarified the matter and proved me innocent,” Xu wrote Friday on his WeChat feed. OKEx previously suspended all account withdrawals, claiming the absence of a key holder. The exchange plans to enable “unrestricted withdrawals” by Nov. 27. Quick bites BTC RETIREES? Crypto investment adviser Digital Asset Investment Management (DAiM) has integrated retirement plans supporting bitcoin. ( CoinDesk ) COMPLETE CASE: Bitcoin will go to $100,000, according to OKCoin CEO Hong Fang. ( CoinDesk ) BLOCKCHAIN BANK: One of Japan’s largest banking institutions, Mitsubishi UFJ Financial Group, will launch a high-speed blockchain payment network in 2021. ( CoinDesk ) HEAVY BAGS: SoftBank CEO Masayoshi Son reportedly sold bitcoin in 2018, eating a $50–130 million loss. ( Decrypt ) PLUG & PLAY: “Running an ETH Validator for the Barely Motivated.” ( Bankless ) Market intel Ether gains Amid a larger market bull run, ether (ETH) is notching serious gains . Ethereum’s native cryptocurrency has jumped to 28-month highs, taking year-to-date gains to nearly 290%, CoinDesk’s Omkar Godbole reports. The second-largest cryptocurrency by market value crossed above $500 this morning around 9:00 UTC, pushing it to the highest price level since July 18, 2018, according to the CoinDesk 20. Ether is now 185% short of its record high of $1,433. At stake Related: First Mover: Bitcoin ‘Rich List’ Grows as Whales HODL and Price Retakes $18K Data costs Filecoin, the decentralized storage network incubated by Protocol Labs, has seen explosive growth a month following its mainnet. Since going live in mid-October, the network has surpassed one exabyte of storage capacity. An exabyte is equal to 1,000 petabytes, or about 15 Library of Congresses (at last count). Filecoin’s blockchain-based network creates a market for data storage by enabling users to rent out unused storage space to those looking to backup their data. When first pitching the idea, Protocol Lab CEO Juan Benet said, “They laughed at me directly, saying, ‘You’ll never get a decentralized network to exceed a few petabytes, maybe 10 petabytes,’” at Decrypt’s Around the Campfire virtual conference Thursday. So, to achieve an exabyte is a real achievement. To be sure, not all of this information came online in just the past month. The Filecoin team has been seeding the network with various experiments over the past year, including sending out physical hard drives of data to likely miners and launching an incentivized testnet called Space Race, which was ported over into the live version of Filecoin. Like other blockchains, Filecoin creates immutable versions of select types of data. For some, this may raise environmental concerns – especially considering how much of the internet appears to be dark and redundant, obsolete and trivial (ROT). Addressing these concerns during the conference, Benet said Filecoin’s environmental concerns are “not very deep relative to other computing systems.” He mentioned Bitcoin, which is often criticized for consuming a vast amount of energy to power its consensus model, and said Filecoin’s consumption is a “tiny fraction.” And, considering it does “something useful” in storing data, it might be a price worth paying. Who won #CryptoTwitter? Related Stories Blockchain Bites: BlockRock Exec Says Bitcoin Is ‘Here to Stay,’ Investors Load Into BTC Puts Blockchain Bites: BlockRock Exec Says Bitcoin Is ‘Here to Stay,’ Investors Load Into BTC Puts || A Millennial Crypto Victory Bigger Than the Price of Bitcoin: (Bloomberg Opinion) -- With the speed cryptocurrency is emerging as the Millennial generation’s alternative asset of choice in India, it’s hard to imagine that just two years ago a couple of blockchain pioneers were briefly in police custody.
Sathvik Vishwanath and Harish BV, cofounders of a then five-year-old startup, were arrested in late 2018. No, they hadn’t pulled off a shady initial coin offering. Their “crime” was that they put up a kiosk in a mall in Bangalore where customers could swap Bitcoin, Ether or Ripple for cash or vice versa. That was the whole point of Unocoin, their crypto token exchange. But the police were suspicious of the new-fangled “ATM.”
A lot has changed since then. Unocoin, which just raised financing from Tesla Inc.-backer Tim Draper’s Draper Associates, is flourishing, together with other Indian blockchain ventures. India’s share of person-to-person virtual-currency trading in Asia has surged to 33%, the same as in China, according to Oslo-based Arcane Research’s analysis of volumes on Paxful and LocalBitcoins, the biggest platforms for transactions in the region.
Some of this is no doubt due to the bubbly rise this year in Bitcoin, which recently came within $100 of its all-time high after surpassing $19,000 for the first time since 2017. Even after Thursday’s wobble, prices have still more than doubled this year.But fundamental factors are also at play. Sending money to India in a tokenized form, and thus avoiding hefty bank charges, is becoming an option. Some customers of digital-asset exchanges, probably tech-savvy freelancers, receive tokens at regular intervals as payment for their work and convert them into rupees via their local bank accounts. Families in India are using the same channel to send money to students overseas.
Having the world’s largest diaspora — and more than $100 billion in two-way money flows last year — isn’t the only thing. Prime Minister Narendra Modi’s disastrous ban on 86% of the country’s currency in November 2016 shook Indians’ faith in fiat money. Add the fear of leaving spare cash in banks when three major deposit-taking institutions have crumbled in the past 15 months. No wonder Arcane expects Indian crypto volumes to overtake China’s.
The domestic asset management industry is also helping adoption of crypto — by its incompetence. Most large-cap fund managers have struggled to beat their benchmarks, especially in recent years. The Nifty 50 index has returned only about 2% annually in dollar terms over the past decade. Yet, as Bloomberg Intelligence’s Gaurav Patankar and Morgan Barna have shown, lack of performance hasn’t kept managers from pocketing high fees.
Disgruntled younger savers are taking note, and dipping their toes in U.S. exchange-traded funds. At 1%, international allocation is still tiny, the Bloomberg Intelligence analysts say, but it’s growing rapidly. Ditto for crypto-investing, even though holding a highly volatile digital asset over the long term isn’t for the faint of heart. Only 600 of Unocoin’s 1.2 million customers have started a systematic buying plan to invest (mostly) in Bitcoin. But 99.5% of them are sitting on profit, and must be bragging about it to their friends.
There’s one dampener: regulation. Nobody wants a return to 2018, when the Reserve Bank, the monetary authority, instructed banks not to entertain customers who dealt in virtual currency. The draconian approach nearly strangled India’s blockchain revolution. The action against Unocoin’s kiosk in Bangalore was like the heavy hand of the state crashing down on a kids’ lemonade stand. If folks in India’s technology capital couldn’t pay cash to buy digital tokens, then the asset was effectively being banned nationwide.
In hindsight, the founders’ ordeal with the police proved to be a blessing in disguise. Young entrepreneurs joined together, went to the Supreme Court in New Delhi and got the RBI’s direction to banks declared unconstitutional. That was in March. Already, the exchange has seen a fivefold jump in trading, averaging $150,000 a day, from $30,000 before the court’s verdict. Of late, trading is much higher, thanks to the rally in Bitcoin prices. Larger bourses such as CoinDCX were witnessing daily volumes of almost $700,000, when I last checked.
The players are urging the government to bring digital assets under the existing money-laundering law, which will give the industry legitimacy. The next step would be to regulate the tokens as money or securities, depending on their use. Read About: The End of Banking as We Know It
India’s phlegmatic bureaucracy may wonder if this is all a craze. Perhaps not. It isn’t even unique to Indian Millennial and Generation Z consumers. Wringing the global banking industry dry of its exorbitant fees, and putting more purchasing power in people's hands after the Covid-19 pandemic, will be a worldwide goal. In their study titled, “What We Must Do to Rebuild,” Deutsche Bank AG economists are advising companies and policy makers to design alternatives to credit cards and “remove middleman fees.” In the short run, conventional fintech will help, but in the longer term, major economies will all do this by replacing cash with their own central bank digital currencies.
That’s when older consumers will join in. If they don’t, they’ll get get stuck, and not just figuratively. Automatically triggered crypto “smart contracts“ will make it possible for self-driving cars to switch lanes faster than others. Commuters will be continuously paying one another in official digital currencies — or in stablecoins like Facebook Inc.’s proposed Libra, private tokens whose values are fixed against fiat money.
The Indian Millennials have read the tea leaves right.
This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.
Andy Mukherjee is a Bloomberg Opinion columnist covering industrial companies and financial services. He previously was a columnist for Reuters Breakingviews. He has also worked for the Straits Times, ET NOW and Bloomberg News.
For more articles like this, please visit us atbloomberg.com/opinion
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©2020 Bloomberg L.P. || BlackRock’s Chief Investment Officer Says Bitcoin Could Replace Gold to a Large Extent: The chief decision maker for where BlackRock, the world’s largest asset manager, invests its funds said bitcoin could take the place of gold to a large extent because crypto is “so much more functional than passing a bar of gold around.”
• Speaking during CNBC’sSquawk Boxon Friday, BlackRock CIO of Fixed Income Rick Rieder responded to a question asking if governments might try to regulatebitcoinif its price keeps rallying.
• “I think cryptocurrency’s here to stay, I think it is … durable,” he said.
• Alongside central banks developing digital currencies, millennials’ “receptivity” to technology and cryptocurrency “is real, digital payments systems is real,” Rieder said.
• “Do I think it’s a durable mechanism that … could take the place of gold to a large extent? Yeah, I do, because it’s so much more functional than passing a bar of gold around,” Rieder said.
• The CIO balanced that by saying he’s not particularly a bitcoin bull and doesn’t include it much in business and corporate portfolios. Further, it’s not clear if bitcoin is worth its current price of over $18,000 price, he said.
• At press time, bitcoin was at $18,550.01, up 2.75%.
UPDATED 11/20/20 at 14:43 UTC:adds that BlackRock is the world’s largest asset manager.See also:Morgan Creek CEO Says Bitcoin Doing ‘Extremely Well’ Due to Fed Reserve’s Dollar Devaluation
• BlackRock’s Chief Investment Officer Says Bitcoin Could Replace Gold to a Large Extent
• BlackRock’s Chief Investment Officer Says Bitcoin Could Replace Gold to a Large Extent
• BlackRock’s Chief Investment Officer Says Bitcoin Could Replace Gold to a Large Extent
• BlackRock’s Chief Investment Officer Says Bitcoin Could Replace Gold to a Large Extent || FTX Looking to List Beacon Chain Ether as Deposit Contract Goes Live: Will an active secondary market emerge for ether (ETH) locked into Ethereum 2.0s deposit contract? Thats the question on the tip of most every traders tongue Wednesday after the release of the deposit contract by the Ethereum Foundation. As of press time, that contract holds some 5,000 ETH worth $2 million. Read more: Tokenized Staked ETH Will Replace ETH And Thats a Good Thing Related: First Mover: Bitcoin Likes Biden (and Fed's Powell) as Price Approaches $15K Launching a derivatives market for beacon chain ether would provide liquidity for investors who cant move out of staked positions. Thats because the deposit contract is a one-way bridge until at least phase 1 of Eth 2.0, also known as Serenity. Yet, some exchanges such as FTX are looking at launching markets for Beacon chain ether (BETH) or tokenized staked ether, or ether that has been staked in the Eth 2.0 deposit contract. In doing so, a second ether asset could appear. Beacon chain ether One-way traffic into Eth 2.0 was a design decision made to stop the formation of a second tradable ether asset, Ethereum Foundation researcher Justin Drake said in a tweet . Indeed, Ethereum co-founder Vitalik Buterin questioned who would provide liquidity for a token representing staked ether. Just moving ETH over to the Eth2 chain has zero profit, he said. But that reasoning wouldnt necessarily stop exchanges from, say, spinning up a token functioning as an IOU for staked funds, Coin Metrics co-founder Jacob Franek spelled out in another tweet thread. (The idea has even stronger legs when one considers the decentralized finance (DeFi) token boom this summer.) Related: Someone Just Paid a $9,000 Fee for a $120 DeFi Transaction He said a secondary market for staked ether tokens would only be as deep as the amount of ether locked in the deposit contract. Its trading quality would also be dependent on whether market makers began actively trading the theorized asset. Story continues The value of the token itself would be tied not only to the underlying inflation rewards stakers receive between 8% and 15% annually for depositing ether in the Beacon chain, but also to the inherent risks from trading a product on top of the ever-under-construction Eth 2.0 blockchain. For example, penalties for failing to validate the new chain affect ether deposits. Those penalties would, at some point, affect how the staked ether token would trade. Read more: Ethereum 2.0 Countdown Begins With Release of Deposit Contract The security concern is the principal agent problem because the people taking the financial risk are no longer the ones making the blocks and the people validating the blocks have no direct financial risk, only indirect, independent cryptocurrency researcher Hasu told CoinDesk in a Telegram message. A staked ether secondary market would probably be tied to the amount of ether held at a centralized exchange for staking. That could open up some exchanges to security concerns, Hasu said, who characterized the asset as staking derivatives or staking securities or securitized stake. Related Stories FTX Looking to List Beacon Chain Ether as Deposit Contract Goes Live FTX Looking to List Beacon Chain Ether as Deposit Contract Goes Live
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 23735.95, 24664.79, 26437.04, 26272.29, 27084.81, 27362.44, 28840.95, 29001.72, 29374.15, 32127.27
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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 2020-12-01]
BTC Price: 18803.00, BTC RSI: 62.85
Gold Price: 1814.10, Gold RSI: 40.87
Oil Price: 44.55, Oil RSI: 62.92
[Random Sample of News (last 60 days)]
Bitcoin ETF Time? What SEC Chairman Jay Clayton Stepping Down Means for Markets: Jay Clayton is stepping down as chairman of the Securities Exchange Commission. Heres what that means for crypto and traditional markets. For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts , Spotify , Pocketcasts , Google Podcasts , Castbox , Stitcher , RadioPublica , iHeartRadio or RSS . This episode is sponsored by Crypto.com and Nexo.io . Related: A Bitcoin Shortage? PayPal and Cash App Buying More Than 100% of New Supply On this weeks Long Reads Sunday, NLW reads Joe Noceras recent Op-Ed Claytons Exit at SEC Opens Door to Protect Investors from Bloomberg. NLW expands upon the piece, discussing Claytons legacy in crypto and how a Biden economic team might impact the space. See also: SECs Clayton Says Payment Inefficiencies Are Boosting Bitcoins Rise 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 ETF Time? What SEC Chairman Jay Clayton Stepping Down Means for Markets Bitcoin ETF Time? What SEC Chairman Jay Clayton Stepping Down Means for Markets Bitcoin ETF Time? What SEC Chairman Jay Clayton Stepping Down Means for Markets || Cryptocurrency Leaders and Blockchain Legends Meet in Puerto Rico to Address the Future of the Internet and the Global Economy November 16: San Juan, Puerto Rico, Nov. 12, 2020 (GLOBE NEWSWIRE) -- ( via Blockchain Wire ) - Crypto Mondays, Dorado Genesis and the Act 20/22/60 Special Committee of the Puerto Rico Chamber of Commerce, today announced their first joint event, “ THE FUTURE OF THE INTERNET AND THE GLOBAL ECONOMY ”, will be held on Monday, November 16, 2020. Cryptocurrency leaders will gather together for the 3-hour online event transmitted from Puerto Rico. The cryptocurrency and blockchain event will be powered by Zoom, starting at 5:00 PM AST as part of the Global Entrepreneurship Week. Agenda topics will cover bitcoin, mining, stablecoin and staking fundamentals, no barrier entry, entrepreneurship opportunities in crypto, the 4th Technological Revolution and the future of the internet and the global economy. Confirmed speakers include: ANDREW KEYS - Managing Partner at Digital Asset Risk Management Advisors ( DARMA Capital ), who recently partnered with LiquidStake to tackle the staking Liquidity problem for Ethereum 2.0 with a $50M allocation. BROCK PIERCE - Co-founder of Tether, the #1 most traded cryptocurrency with annual trading volume of over US $10 Trillion and founder of Blockchain Capital, that has helped develop the STO (security token offering) to further secure investments in digital currency. Pierce also ran as an independent candidate for the USA presidential 2020 election. MICHAEL TERPIN - Founder and CEO of Transform Group, whose divisions include Transform PR, a global public relations firm that has served more than 200 clients in the blockchain field and helped launch more than 100 ICO’s and CoinAgenda, a global event series for cryptocurrency investors and blockchain innovators since 2014. Terpin also co-founded BitAngels, the world’s first angel network for digital currency startups and co-founded the Caribbean Blockchain Association in 2015 along with Gabriel Abed and Roger Ver. CRYSTAL ROSE - Entrepreneur, investor and Forbes Top 10 Women in Blockchain. Co-Founder of shEOS, a female-run block producer on the EOS network and the shEOS Foundation, providing computer science scholarships to young women. NICK SPANOS - Founder of the Bitcoin Center, the first physical peer-to-peer cryptocurrency exchange opened just 100 feet from the New York Stock Exchange. Spanos and the Bitcoin Center were also featured in the Netflix movie “Banking on Bitcoin.” Spanos is a holder of blockchain patents, such as voting on the blockchain, and most recently founded the decentralized bonding curve platform Zap.org. SCOTT WALKER - Serial Entrepreneur and founding LP in Blockchain.Capital with investments in Coinbase, Kraken and more. Walker is one of the most knowledgeable crypto investors in the sector. CRAIG SELLARS - Leads the development of global blockchain innovations as the inventor of the stablecoin, the digital US dollar on top of the Bitcoin blockchain. Co-founder of Tether, his current development focus is on the creation of open-source decentralized identity protocols and applications. GEOFF McCABE - CEO of The Divi Project . He also owns businesses in virtual reality, gaming, two hotels, and a blockchain-based media company, LightingWorks. PEDRO RIVERA - Community Builder, Blockchain investor and advocate. A Puerto Rican who returned to the Island after Hurricane Maria to help rebuild the Island though the Crypto Community. Founder of Crypto Mondays San Juan. Story continues The event welcomes all attendees ranging from those new to the crypto world to expert crypto traders. Registration is available at https://futureofinternetandglobaleconomyzoom.eventbrite.com . About the organizers: Crypto Mondays seek to make Puerto Rico a world hub for investment and progress in blockchain, cryptocurrency, and digital innovation. For over 2 years, Crypto Mondays San Juan has brought some of the brightest technological forerunners on the planet to Puerto Rico to discuss topics ranging from banking and finance, to digital identities, privacy, small businesses and women entrepreneurial empowerment. ACT 20/22/60 Special Committee of the Puerto Rico Chamber of Commerce serves as a bridge and liaison between the Act 20/22/60 community and the local business community by helping them integrate through professional, educational, networking and social activities. CONTACT: Pedro Rivera, [email protected] Annie Mustafa, [email protected] Erika Zapanta, [email protected] || RPT-BUZZ-U.S. stocks weekly: Holding out: (Repeats from Friday, no changes to text. Adds chart) ** S&P 500 slips 0.5% in choppy trading as investors cling to fiscal stimulus hopes ** Indeed, amid the back and forth, the market tries to maintain a holding pattern ** But is volatility of volatility about the vault? , and given froth, could there be a worse spill? ** Admittedly, Nasdaq troops have been beaten back , and there could still be a coming slog ** Majority of sectors decline; tech loses its grip, while financials and communication services climb ** Tech stumbles 2.2%. Intel slides 11% as data-center business revenue misses estimates. IBM sinks 8% after Big Blue gives no forecast on COVID-19 uncertainty ** Consumer Discretionary dips 0.6%. Homebuilders among biggest sector losers, slump as labor market recovery signals signs of strain. PulteGroup Inc and Lennar Corp both lose ~8%. PHLX Housing index tumbles >4% ** Healthcare edges down 0.1%. Orthodontic device maker Align Technology soars 40% on stellar Q3, signs of sustained demand. And Gilead Sciences rises Fri as remdesivir becomes first U.S.-approved COVID-19 drug ** Energy up 0.5%. But group weighed down by weakness in oil prices on rising Libyan crude supply and demand concerns. Pioneer Natural Resources slumps after $4.5 bln deal to acquire rival Parsley Energy , extends U.S. shale consolidation saga ** Financials jump 1%. Big banks follow Treasury yields higher on stimulus hopes. S&P 500 Banks index gains >3% ** Communication Services surges 2.1%. Social media stocks rally on Snap Inc's upbeat Q3 revenue, user growth. And Alphabet advances even after U.S. Justice Dept files antitrust lawsuit against Google unit. Though Netflix retreats 8% as paid subscriber adds miss expectations, hit by rising streaming competition, return of live sports TV broadcasts ** Meanwhile, Tesla posts 5th straight qtrly profit on record revenue, thanks to pollution credit sales to rivals , and ECO vs MAGA: Is there a lesson in Bitcoin? ** SPX performance YTD: (Lance Tupper and Terence Gabriel are Reuters market analysts. The views expressed are their own) || First Mover: Bitcoin Falls as COVID-19 Surges, ECB’s Lagarde Steps Up, US GDP Hits 33%: Bitcoin was lower for a second day, even as traditional markets showed signs of stabilization following Wednesday’s sell-off.
Cryptocurrency analysts looked for solace inbitcoin‘s October-to-date return, still at an impressive 22%, during a month when the Standard & Poor’s 500 Index of U.S. stocks has declined by 2.7%.
“The sell-off in equities and gold due to rising COVID infections and restrictive lockdowns had only a limited impact on the digital asset,” Lennard Neo, head of research for the cryptocurrency-focused firm Stack Funds,wrote Thursday in a report.
Related:Market Wrap: Bitcoin Hits $13.6K; 500K ETH Options Pile Up for December
Intraditional markets, European stocks rose as traders awaited a decision from the European Central Bank, headed by President Christine Lagarde, onwhether further monetary support is neededamid a resurgence in coronavirus cases.
U.S. equity futures pointed toward a higher open, as a key government report showed that the world’s largest economy grew at a33% pace in the third quarter– a somewhatcontext-less data pointthat’s likely to do little beyond serving as aneasy talking point for President Donald Trump’s reelection campaign.
Just as bitcoin bulls were starting to salivate over the cryptocurrency’s powerful rally over the past week toward $14,000, a sell-off in traditional markets has dragged prices back down.
Investors globally were rattled by reports of a resurgence in coronavirus cases. German Chancellor Angela Merkel announced the country would implementtough new business restrictions, and French President Emmanuel Macron announced plans to impose a national lockdown.
Related:Mirage Recovery: What ‘Record’ GDP Growth Tells Us About the Economy
Such restrictions could crimp economic growth, theoretically a deflationary development, which could reduce demand for bitcoin in the short term as a hedge against higher consumer prices. There’s also the possibility that some investors, seeing further turmoil ahead, decided to bulk up on cash. One of the easiest things to sell is bitcoin, which is still up 84% year-to-date, even after Wednesday’s sell-off.
“It seems the pressure was too much,” Mati Greenspan, founder of the foreign-exchange and cryptocurrency research firm Quantum Economics, told clients Wednesday.
Asdetailed in First Moveron Wednesday, analysts relying on price-chart patterns have identified few points of resistance along bitcoin’s path from the hitherto rarely breached $14,000 psychological level to the all-time-high around $20,000, reached in 2017.
According to Greenspan, “$14,000 is a huge psychological barrier, and I would be delightedly flabbergasted if we were able to pass through it without first seeing a significant pullback.”
And asreported Thursday by CoinDesk’s Omkar Godbole, bitcoin options traders are assigning a low probability that the cryptocurrency will end 2020 above $20,000.
The implied chances of prices above that level currently stand around 6%, according to the cryptocurrency data firm Skew.
“A below-10% probability of record highs by the year end means the market is unconcerned with that outcome,” Vishal Shah, an options trader and founder of Polychain Capital-backed derivatives exchange Alpha5 told Godbole in a Telegram chat.
Despite the sincerest wishes of bitcoin bulls, it would take a rally of more than 60% in the next eight weeks for prices to set a new record. It wouldn’t be unprecedented: There have been eight times in the 11-year old cryptocurrency’s recorded history where prices have rallied more than 50% or more in a two-month span.
It could be that traders are just being realistic.
“The options market is seemingly not getting carried away with the recent strong price momentum,” Sui Chung, CEO of CF Benchmarks, said in a statement to CoinDesk. “If we extrapolate bitcoin’s price action and volatility of the past 90 days till December expiry, then bitcoin appears set to end the year between $14,000 to $15,000.”
Read More:Bitcoin’s Options Market Sees Just 6% Chance of $20K Before Year’s End
Bitcoin’s price rally has paused, with the top cryptocurrency by market value near $13,100, having reached 16-month highs above $13,800 during Wednesday’s Asian trading hours.
Investors are rotating money out of stocks and into safe havens like the U.S. dollar and Treasurys on concerns that Germany and France’s new lockdown restrictions would torpedo Eurozone’s fragile economic recovery.
Not just bitcoin, but almost every asset denominated in U.S. dollars has taken a beating in the past 24 hours or so. Markets saw similar but more violent action in March when recession fears triggered a global dash for cash.
Should the virus figures continue to rise, risk aversion will likely intensify, fueling a more profound decline in the cryptocurrency. However, it’s possible investors could buy the dips, with rising institutional adoption boosting the cryptocurrency’s long-term prospects.
Besides, stock markets will likely stabilize, helping bitcoin regain poise if the ECB announces more monetary stimulus later Thursday. While the central bank is expected to maintain the status quo, it could lay the groundwork for additional stimulus in December. Earlier this month, Goldman Sachs said the central bank could boost its pandemic bond-buying program by 400 billion euros ($470 billion) in December to counter deflationary pressures.
From a technical analysis standpoint, the immediate bias will remain bullish as long as prices are held above $12,500. On the higher side, the June 2019 high of $13,880 is the level to beat for the bulls.
– Omkar Godbole
Bitcoin (BTC): Winklevosses’Gemini cryptocurrency exchange allows purchasing andtrading with euros.
Ripple (XRP): San Francisco-based payments firmplans to invest in blockchain money-transfer app MoneyTap,a joint venture with Japan’s SBI Holdings.
Crypto.com Coin (CRO):Cryptocurrency-focused credit-card lender expands in Latin American market,hires former Visa exec Filomena Ruffaas general manager.
Fidelity’s digital-asset division expands crypto custody service to Asia (CoinDesk)
Blockchain pioneer Caitlin Long’s Avanti wins approval from Wyoming regulators for new banking charter (CoinDesk)
Bank of Canada Governor Macklem says digital currency initiative is progressing beyond proof-of-concept stage toward launchable product (CoinDesk)
FTX crypto exchange launches bitcoin pairs for tokenized versions of top stocks Amazon, Apple, Tesla (CoinDesk)
Coinbase crypto exchange to launch Visa debit card in U.S. early next year (CoinDesk)
Former regulator who oversaw New York State’s BitLicense development and more recently led New York Stock Exchange’s regulatory division will now join crypto-friendly venture-capital firm Andreesen Horowitz (CoinDesk)
Federal Reserve might be running low on ammunition to juice market and the economy (CNBC)
Jack Dorsey, Twitter CEO who also oversees payments-firm-turned-cryptocurrency-investor Square, grilled by U.S. Senator Ted Cruz over tweet platform’s content controls (WSJ)
Lenders now telling U.S. mall owners to pay up on past-due mortgage bills (WSJ)
Chinese Communist Party set to detail 15-year economic growth plan (Bloomberg)
• First Mover: Bitcoin Falls as COVID-19 Surges, ECB’s Lagarde Steps Up, US GDP Hits 33%
• First Mover: Bitcoin Falls as COVID-19 Surges, ECB’s Lagarde Steps Up, US GDP Hits 33% || DEXFIN Launching European Crypto Exchange as a Complete Solution for All: PRAGUE, Czech Republic, Oct. 29, 2020 (GLOBE NEWSWIRE) -- The DEXFIN Exchange is a one-stop solution for digital assets: buy, store, and manage assets, discover new possibilities of trading in virtual reality, save on fees, and make a profit by staking. Users can also take advantage of tokenization, DeFi lending, savings in crypto (BTC, USDT, and DXF), make use of instant payments through Lightning Network with nearly zero fees, and more. DEXFIN will launch its digital asset exchange on November 25th, 2020. The platform brings in features that will be attractive for many users. DEXFIN: Crypto Exchange w ith Trading in Virtual Reality DEXFIN is a revolutionary FinTech company which provides a top-quality, European crypto exchange where users can do trading more efficiently in virtual reality and manage digital assets all by themselves – easily, quickly, and securely. With a business model based around circular tokenomics, DEXFIN bridges the gap between cryptocurrencies, company capitalization processes and individuals. This is only possible through a transparent, secure and token-based circular economy using blockchain technology. DEXFIN: Complete Ecosystem DEXFIN brings in a complete ecosystem with many benefits and advantages to users: DEXFIN Token (DXF) - With the DXF Exchange token, users can own part of the DEXFIN infrastructure and gain access to special offers, benefits and discounts. - Obtain up to 40% from the fees generated through affiliate links. - Get up to 50% off fees on the DEXFIN platform. - Receive 11% annual interest when holding DXF. - Trade DXF on open markets and redeem them for services provided by DEXFIN or other users of the platform. - Gain percentage share from the newly listed tokens on the DEXFIN platform. Virtual Reality VR Token and Bonuses - If a user has 10,000 DXF Tokens or more, they will get a special bonus which is unrivaled in the world of crypto – the VR Tokens will be automatically credited to their account as an airdrop of VICTORIA VR Virtual Reality project: Story continues - For every 10,000 DXF, get a bonus of 100,000 VR Tokens. - Receive 20% annual interest for locking VR Tokens in staking. - The only condition is to have the tokens locked in staking for 12 months. - VR Tokens will be extremely useful for discounted payments within the VICTORIA VR platform set to attract crowds of users, primarily from the gaming sector. Staking Platform for DXF, BTC, USDT Staking is similar to keeping money on users' term deposits but with a significantly higher annual appreciation. Users just hold coins and tokens on the DEXFIN Exchange and generate passive income from their cryptocurrencies: - DXF 11% annually. - USDT 11% annually. - BTC 6% annually. Savings in BTC, DXF, and DeFi With DEXFIN, users can set up regular and convenient monthly savings plans in BTC, DXF Token and other digital currencies. users can also make use of advantageous DeFi (Decentralized Finance) loans built over Bitcoin. Platform for Trading in VICTORIA VR Virtual Reality Discover a new way of trading and new trading opportunities! While trading in virtual reality, users can see and follow all the needed information at once – insight from social networks, prices of favourite coins and tokens, charts and indicators, and more. The DEXFIN trading platform allows users to quickly and securely purchase, sell, and manage digital currencies in real-time from a single interface without any intermediaries and with low fees. users can also use the DEXFIN mobile application to manage their assets on the go, at any time. Lightning Network for Instant Payments, and More Use the DEXFIN payment gateway for instant payments using Bitcoin with virtually zero fees. DEXFIN is also establishing many other products users will definitely appreciate: Cryptomats, payment terminals, NFC payment cards, NFC rings, an eShop and an educational website which includes a crypto encyclopedia. Tokenization Platform In 2021, DEXFIN is preparing to launch a licensed tokenization platform – a modern digital crowdfunding platform based on the blockchain. Many different assets can be tokenized and moved onto the blockchain – private equity shares, stocks and bonds, real estate, precious metals and even fine arts. These tokenized assets will always effectively link the token issuer to the backers of the project. DEXFIN enables companies to raise finances globally, continuously and compliantly. This allows token holders to benefit from their growth and future profit. Anyone who likes your product and mission can easily support that product or mission by buying tokens. DEXFIN: Based in the Crypto Hub of Europe DEXFIN is based in Prague, Czech Republic, which is the home of several notable inventions in the field of crypto. Some examples include the first mining pool (SlushPool) which started in the Czech Republic back in 2010 and the world-famous Trezor hardware wallet. The Czech Republic ranks among one of the most crypto-friendly countries in Europe. DEXFIN, as a complete ecosystem, is home to many exciting features, benefits and advantages that will be loved and sought out by both businesses and individual users. Now, check out all the details on the DEXFIN Platform . Media contact Company: DEXFIN Contact: Kamil Brejcha Telephone: +420 608 560 996 E-mail: [email protected] Website: https://dexfin.com/en SOURCE: DEXFIN || Family Offices May Now See Bitcoin as Alternative to Gold: JPMorgan Report: The Grayscale Bitcoin Trust is outperforming gold exchange-traded funds (ETFs), a trend perhaps driven by institutional investors like family offices, according to a report by JPMorgan analysts that CoinDesk has obtained.
“This contract lends support to the idea that some investors that previously invested in gold ETFs such as family offices, may be looking atbitcoinas an alternative to gold,” the analysts wrote in the Nov. 6 report.
The climb of the Grayscale Bitcoin Trust indicates it’s not just millennials driving demand for bitcoin, but institutional investors like family offices and asset managers, the analysts said. Grayscale is part of Digital Currency Group, CoinDesk’s parent company.
Related:The World Is Never Getting Off Government Stimulus
The analysts continued:
[“As we had highlighted in our previous [report] of [Oct. 23], the potential long-term upside for bitcoin is considerable if it competes more intensely with gold as an ‘alternative’ currency given that the market cap of bitcoin would have to rise 10 times from here to match the total private sector investment in gold via ETFs or bars and coins.”
The analysts noted, however, that the “sharp spike in prices this week appears to have taken bitcoin close to overbought levels” which could trigger a sell-off.
Read the full report:
• Family Offices May Now See Bitcoin as Alternative to Gold: JPMorgan Report
• Family Offices May Now See Bitcoin as Alternative to Gold: JPMorgan Report
• Family Offices May Now See Bitcoin as Alternative to Gold: JPMorgan Report || Bitcoin Trades Near Three-Year Highs, Briefly Crossing The $14K Mark: Bitcoin briefly crossed the $14,000 milestone on Saturday, marking its highest price quote since January 2018. From the opening price of $7,194.89, on Jan. 1, BTC is up 90.5% on a year-to-date basis, according to data from Yahoo Finance . What Happened : Economic stimulus plans and revival programs aimed at overcoming the coronavirus setbacks burden the purchasing power of currencies. According to the Wall Street Journal , some investors believe that Bitcoins potential as an inflation-hedge is driving up demand for the digital asset. A higher adoption rate among institutional and individual investors could systematically push Bitcoin and other virtual currencies as mainstream assets. Billionaire investors like Time Draper and entrepreneurs like Twitter Inc (NYSE: TWTR ) CEO Jack Dorsey have publicly backed Bitcoin for a long time. Publicly traded financial services company Square Inc (NYSE: SQ ) purchased $50 million worth of BTC in the first week of October. Dorsey is the founder and CEO of Square. Why Does It Matter : In May last year, the open-sourced cryptocurrency underwent a major event called "halving." A halving takes place every time 210,000 new blocks are mined, and the one in May was the third halving event after 2012 and 2016. It is one of the control points to manage the supply of Bitcoin. Looking at past trends, BTC price surged after each halving event. In 2013, BTC shot up from $150 to $1000 in a span of two months. Whereas in late 2017, a year after the second halving, BTC peaked close to $20,000. The latest surge comes on the back of increased mainstream adoption. PayPal Inc. (NASDAQ: PYPL ) last month announced it was adding cryptocurrency offerings on its platform. JPMorgan Chase & Co. said last week its native cryptocurrency "JPM Coin" was now live. The banking giant also dubbed Square's Bitcoin purchase as a "vote of confidence for the cryptocurrency's future." Story continues Price Action : BTC traded at $13,692.10 on the last look, up about 4.5% over a week. Peculiarly, other cryptocurrencies aren't following Bitcoin's trajectory, with Ethereum (ETH) down 2.31% in the trailing 7-day period at $398.65 at press time. XRP has dropped 6.12% in a similar period at $0.24. Chainlink is down 6.75% at $11.48. See more from Benzinga Click here for options trades from Benzinga Stonepeak To Acquire Astound Broadband For .1B China Calls For Collaboration With US And Other Countries © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Confessions of a Sharding Skeptic: With final preparations for the launch of Ethereum 2.0 soon to be underway, CoinDesk’s Christine Kim spoke to Cayman Nava, technical lead at ChainSafe Systems and Alexey Akhunov, an independent researcher and software developer about the kinks in ETH’s evolution that still need to be worked out.
For free, early access to new episodes of this and other CoinDesk podcasts subscribe to CoinDesk Reports withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublica,iHeartRadioorRSS.
This episode is sponsored byCrypto.com,Nexo.ioandElliptic.co.
Related:Opinionated
The Ethereum blockchain processes aboutthree to four timesas many transactions as Bitcoin. It’s still not enough, however, to meet rising user demand for the cryptocurrency and prevent network congestion.
See also:DeFi Frenzy Drives Ethereum Transaction Fees to All-Time Highs
One of the most highly anticipated fixes to Ethereum’s transaction bottleneck and its lack of scalability is an ambitious software upgrade called Ethereum 2.0. According toVitalik Buterin, the creator of Ethereum, Ethereum 2.0 will boost network speeds from around 15 transactions per second (TPS) to 100,000 TPS.
How? The solution is sharding. Cayman Nava, technical lead at ChainSafe Systems, explains sharding as “a natural way to break things up.”
Related:Are Central Bank Coins the End of Financial Privacy?
“If you’re wanting to process a lot of data but you don’t want any one party to be overloaded with that data, you can naturally think of breaking up your problem into smaller pieces,” said Nava. These “smaller pieces” Nava is referring to are called shards. In Ethereum 2.0, 64 shards will be created to break up the transaction load of Ethereum.
See also:Ethereum 2.0: How It Works and Why It Matters
While sharding sounds effective in theory, there are other Ethereum developers who are skeptical about the benefits of this technique in practice.
“If I were to design scaling [for Ethereum], first I would squeeze as much as possible out of Ethereum 1, which I think hasn’t been done yet, and then after that I would actually introduce sharding logically in order to see whether users would actually be able to use [sharding] effectively,” said Alexey Akhunov, an independent researcher and software developer for Ethereum that has been contributing code to the network’s developmentsince 2016.
Sharding logically refers to breaking up data within the same blockchain as opposed to sharding physically, which necessitates the creation of multiple mini-blockchains. As mentioned, Ethereum 2.0 will spawn a physically sharded system of 64 linked databases. Optimizing the communication between shards in this environment, Akhunov goes on to explain, may pose an even greater challenge to network scalability than a transaction bottleneck.
Nava agrees there are kinks and holes in the design of Ethereum 2.0 and its sharded system that need to be worked out. But in Nava’s view, these problems that call for further detailing and research can be delayed in the short term while developers work toward an upgrade launch.
“I think we can delay these harder problems like how sharding should work or what it should look like. That can be pushed off a little bit so we can think about it and get it right. In the near term, we can get a lot of the benefits from the [Ethereum 2.0] work that we’ve been doing,” said Nava.
To download or stream the full podcast episode with Akhunov and Nava you can go toApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublica,iHeartRadioorRSS.. For early access to future CoinDesk Research podcast episodes, be sure to click “subscribe” on these channels.
For more information about Ethereum 2.0, you can download the free research report featuring additional developer commentary about the upgradeon the CoinDesk Research Hub.
• Confessions of a Sharding Skeptic
• Confessions of a Sharding Skeptic || This Day In Market History: The Department Of Homeland Security Is Established: Each day, Benzinga takes a look back at a notable market-related moment that occurred on this date. What Happened : On this day in 2001, U.S. President George W. Bush announced the establishment of the Department of Homeland Security. Where The Market Was : The Dow closed around 10,021.57 and the S&P 500 traded around 1,076.59. What Else Was Going On In The World : In October 2001, Apple Inc. (NYSE: AAPL ) released the first iPod. This original model sold for $399 and featured a mechanical scroll wheel. Heightened U.S. Security : Following the terrorist attacks of Sept. 11, 2001, Bush established the federal agency with the aim of better combating the threat of terrorism. According to Homeland Security's website, the purpose of the department is “to secure the nation from the many threats we face. This requires the dedication of more than 240,000 employees in jobs that range from aviation and border security to emergency response, from cybersecurity analyst to chemical facility inspector. Our duties are wide-ranging, and our goal is clear — keeping America safe.” As the third-largest department in the U.S. government, components include Customs and Border Protection, Immigration and Customs Enforcement, the Coast Guard, TSA and many others. Related Links: How Transportation, Security Changed After 9/11 This Day In Market History: US Markets Close Following 9/11 Attack White House photo via Wikimedia. See more from Benzinga Options Trades For This Crazy Market: Get Benzinga Options to Follow High-Conviction Trade Ideas Square Invests M In Bitcoin; Dorsey Sees A Currency For The Internet How To Research For Small-Cap Stocks © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Nigerian Banks Shut Them Out, So These Activists Are Using Bitcoin to Battle Police Brutality: As protests surge through Nigeriain response to police brutality, one enclave of protestors has turned to bitcoin as a financial lifeline during turbulent times.
The Feminist Coalition’s bank account was shuttered this month after its involvement in the End SARS protests came to light, according to a person familiar but unaffiliated with the group who asked to be identified as Emma (a pseudonym). End SARS is a movement in Nigeria to abolish the Special Anti-Robbery Squad (SARS), a subdivision of the police force with atrack recordof abusing and harassing citizens.
Read more:Unconfiscatable? Using Bitcoin to Resist Police Extortion in Nigeria
Related:Nigeria Is Developing Strategies for National Blockchain Adoption
Cast out of the traditional system, the Feminist Coalition is now raising donations in bitcoin.
The Feminist Coalition was founded in July with a mission to “champion equality for women in Nigerian society with core focuses of education, financial freedom, and representation in public office.”
With the outbreak of protests against police brutality this month, the group has concentrated on providing medical care, legal aid and even funeral funding for those participating in the peaceful demonstrations.
Since the protests surfaced in the beginning of October, 10 Nigerians have died at the hands of police,according to CNN.
Related:Bitcoin in Africa: FastBitcoins Partners With Flexepin to Expand Global Footprint
As of Oct. 16, the Feminist Coalitionhas collecteda total of 69,891,637.15 naira (a couple bucks shy of $185,000), 15,443,280.00 of which ($40,000) has been deployed to aid 128 protests across the country, according to thecoalition’s website.
All of this fundraising attracted the attention of authorities, though, and they were shut out ofFlutterwave, the payments platform and something of a virtual bank they used to process donations. (At press time, Flutterwave had not returned CoinDesk’s request for comment).
That’s when they turned to alternatives.
“Quite a few members of the group work in tech,” so they made the decision to use Bitcoin (BTC) as another payment option, said Emma.
They started by usingSendcash, a platform which converts bitcoin payments into naira and then deposits these funds into a recipient’s Nigerian bank account. The service is intuitive and highly useful, but it carries the risk that banks will almost certainly sniff out the source of the Feminist Coalition’s funds and shut down its accounts again.
The coalition no longer uses Sendcash because of this likely outcome. But they still accept bitcoin: Alex Gladstein, the Chief Strategy Officer of the Human Rights Organization, set them up with aBTCPay Server.Emma called the self-hosted payment process “a safer wallet” compared to other options.
Read more:Human Rights Foundation Funds Bitcoin Privacy Tools Despite ‘Coin Mixing’ Legal Stigma
Because it operates obliquely to the banking system, the censorship-resistant payment portal is an essential tool for the Feminist Coalition’s fundraising, Gladstein told CoinDesk.
“I would say BTCPay is important because it protects the privacy of donors and prevents the government from easily figuring out what service the protestors are using to cash out their bitcoin into naira,” he said.
Since adding the BTCPay bitcoin donation option on Oct. 14, the coalition has amassed roughly 3.14 BTC (~$36,000).
As CoinDesk has reported previously, Nigerians are no strangers to how Bitcoin lets them move money in the shadows of the legacy financial system.
Some Nigerian expats, for instance, use thePaxful exchange to send remittance fundsback home, while others use bitcointo trade directly with China.
More germane to the recent protests against police brutality, others have evenused Bitcoin as an unconfiscatible bank accountto avoid police shakedowns for cash. As though they see the writing on the wall, the Nigerian government is alsospinning up a digital version of the naira.
Still, Emma said that bitcoin is “not popular among the masses yet at all. There are large barriers mostly in terms of education. However a lot of young Nigerians are now starting to adopt cryptocurrency and it’s growing across the population.”
Further, the Feminist Coalition’s successful fundraising using bitcoin sheds “some positive light on cryptocurrency,” she says, andpromotional efforts by Binancein Nigeria are also softening Bitcoin stigma in the country.
Of course, Bitcoin is only one tool in Nigeria’s fight for civil rights – it is not a cure-all for its citizens. What’s really needed is concrete reform.
Read more:Nigerians Are Using Bitcoin to Bypass Trade Hurdles With China
Nigerians have been protesting as far back as 2016, Emma said, for SARS’ abolition and for police reform. It wasn’t until the most recent bout of unrest beginning in October that the government acquiesced to the protestors’ demands and formally disbanded SARS.
To many Nigerians, though, this is merely political theatre, and they expect SARS abuses to migrate to one of the new task forces that the government is forming to take its place. That’s why the protests haven’t stopped, Emma said, “because [Nigerians] want to see actual change in terms of police reform.”
With SARS now abolished, though, the protesters’ something-of-a-victory has left Emma hopeful. Not necessarily that things will immediately change, but that the Nigerian people, collectively, are beginning to “wake up” to the government’s abuses.
There’s more activity now than ever pressing for change, she said, and that’s something to be thankful for.
“We’re very tired of the lies and deceit, and there’s a widespread consciousness and awakening among young Nigerians right now that many are saying they’ve never seen before. I know I’ve never seen it before and I’m so relieved that it’s finally here.”
• Nigerian Banks Shut Them Out, So These Activists Are Using Bitcoin to Battle Police Brutality
• Nigerian Banks Shut Them Out, So These Activists Are Using Bitcoin to Battle Police Brutality
[Random Sample of Social Media Buzz (last 60 days)]
None available.
|
Trend: down || Prices: 19201.09, 19445.40, 18699.77, 19154.23, 19345.12, 19191.63, 18321.14, 18553.92, 18264.99, 18058.90
|
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]
Not fully available.
[Random Sample of News (last 60 days)]
Bitcoin, Bonds and Gold: Why Markets Are Upended in a Time of Fear: Noelle Acheson is a veteran of company analysis and CoinDesk’s director of research. The opinions expressed in this article are the author’s own.
The following article originally appeared inInstitutional Crypto by CoinDesk, a weekly newsletter focused on institutional investment in crypto assets.Sign up for free here.
Anyone seen the movie “Parasite”? You know, the one about class mobility, creative solutions and scary basements.
Related:Bitcoin Back Over $8K as Traditional Markets Rebound
I thought of that film after readingJill Carlson’s op-eda couple of days ago – she looks at our collective surprise that bitcoin is not a safe haven, and in a gentle way asks “well what did you expect?” She highlights thatbitcoin(BTC) is too young to be considered a safe haven because its narrative is not yet formed. That doesn’t mean it won’t eventually get there, though.
What does this have to do with a South Korean Oscar winner? Well, in “Parasite” we spend the first hour thinking the film is about one thing but it turns out it’s not, it’s about something totally different.
The same thing is happening in cryptoland. Jill’s right: Bitcoin’s narrative isthekey driver of its price trends, and it will change over time. The story isn’t about what bitcoin “is” but about what it “will be.”
An even more interesting narrative shift, however, is unfolding elsewhere.
Related:Kraken Exchange Pledges India Expansion as Nation Reopens for Crypto Business
I’m talking about the rest of the market. Almost all of it, in fact. Narratives are shifting all over the place.
For instance, everyone knows you should have bonds in your portfolio because they offer income and stability. I mean, there’s no way rates could go negative, right?
This week the yield on 30-year and 10-year U.S. government debtdropped totheir lowest levels ever. The S&P 500now yields morethan Treasurys, calling into question the entire concept of “risk distribution.”
Even gold is behaving strangely. We hold it up as the ultimate example of a “safe haven” investment, and yet market structure shifts are calling that into question. Last week the gold pricedropped almost5 percent in one day, the largest daily fall in seven years, due to deleveraging pressure from derivative positions. And we tend to forget that gold fell almost 30 percent at the height of the 2008 market rout.
Gold’s role as a safe haven is entirely based on narratives: that shiny and yellow are desirable qualities (surely that’s subjective?), that supply is limited (we don’t know that for sure) and that heavy is good (you’ll have heard the derogatory expression “such a lightweight!”). These days, heavy – as in very difficult to pick up and take with you – is perhaps not the indicator of utility it once was.
Even though we can all agree gold’s metallic propertiesare impressive, its position as the world’s safe haven is no longer universally unassailable, and through no fault of its own. The narratives around it are changing, and the resumption of the gold price rally at the beginning of the week seems less based on conviction the metal will hold its value in times of trouble and more of a desperate realization there’s nothing out there that can yet take its place.
Now, why so many narrative shifts all of a sudden? Actually, narratives are always changing – but the pace of change is usually much slower than what we are witnessing today.
What we are witnessing is a breakdown of assumptions, in a time of fear. We’re worried about the economy, the banking system, the climate, living conditions, politics, education and the automatization of jobs. Add to that a growing feeling of vulnerability and concern about health and contagion.
In times of fear, we fall back on what we know, what we can be sure of. These days, that’s not much.
In his poignant 1944 paper called “The Social Psychology of Fear,” philosopher Kurt Riezler pointed out that “If we do not know the nature of a danger, we make an assumption. Without such an assumption, we cannot act.”
But what are assumptions if not conclusions based on narratives? We assumed interest rates would never go negative. We assumed house prices would never go down. We assumed profits were a good thing, and social media would liberate us.
So now, confronted by many dangers we are still struggling to understand, we are reaching for assumptions we no longer trust.
Bitcoin’s narrative is changing, as is to be expected for such a young and complex innovation. But so are the narratives that guide just about every other aspect of investing.
A few years from now, when the new narratives have settled into some semblance of normality, we’ll look back on this time and realize that the bigger story was in front of us all along.
• Crypto Needs a Rational Value Investing Model
• You Call That Volatility? Bitcoin Traders Scoff at Wall Street’s Gyrations || Crypto Prepped Before Coronavirus Went Global: Market meltdowns, a failure of leadership at both the state and corporate level and a disruption to human civility are all built into the crypto mindset following the recession of 2007-2008. It explains why the relatively small enclave of Crypto Twitter was weeks ahead of the global pandemic, with crypto’s thought leaders urging people to prepare for the worst. Now that the worst is here, these harbingers of doom feel vindicated. “The word you’re looking for to describe those tech Twitter personalities who you spent the last month mocking and who have been proven right on CV-19 is ‘Cassandra,’” Nic Carter, a partner at Castle Island Ventures and lover of the classics , tweeted yesterday . Related: Extreme Social Distancing: Self-Quarantine Diary, Day 1 Once-trusted sources of information, from media to presidents and prime ministers as well as international health organizations, have all failed in preparing the world for Coronavirus. And now, the call to “ decentralize or die ” has never taken on a more literal meaning. “Most companies in the [crypto] space have become relatively quicker to react and prepare for the virus than some other industries,” said Anil Lulla, a founder of Delphi Digital, said in a direct message. Twitter, crypto’s public square, has helped reinforce the need for decisive action ahead of the pandemic, with prominent voices like Ryan Selkis of Messari sounding the alarm early and often. Selkis wrote on Feb 8 about why the virus could be a big deal, and set company work from home policies March 3, well before most businesses, crypto or otherwise, had taken that step. To some extent, this skepticism of centralized systems has better prepared crypto firms and proponents for what lies ahead. Despite the anxiety rampant on social media, when queried individuals in the crypto sphere are treating the coronavirus pandemic as a “ Life Changes! Be Ready ” event. Related: Bitcoin Sinks Below $5K Despite Fed Reserve’s Slashing of Interest Rates Story continues See also: How to Survive the Coronavirus and Keep Your Startup Alive “Bitcoiners don’t seem fazed much,” said Christian Langalis, who works for Urbit but gained prominence as Bitcoin Sign Guy . The preparedness mindset and crypto have long had close ideological associations, said John Ramey, former Innovation Adviser to the Obama White House and founder of The Prepared , a site with a full-on guide to getting ready for the worst. The Prepared is a likely onramp for people looking for information on how to wait-out a crisis. “People drawn to crypto don’t believe in central government fiat currencies, and recognize the risks in our institutions and systems,” he said. “That spirit is alive in the preparedness community. It’s two sides of the same coin.” Ramey has a three-point set of guidelines to prepare for any contingency. First, and most important, is for people to get their personal finances in order. Stocking up on food and essential goods and learning how to medicate yourself are secondary and tertiary (though still essential) concerns. That spirit is alive in the preparedness community. It’s two sides of the same coin. “Even if you have to move quickly in an acute event, there is value in keeping cash aside if you have a choice to do so,” Ramey said. “You have to be ready for the cascading economic effects.” Personal finance is a key concern for coiners; in fact, it’s the bedrock of the industry. “What is needed is an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party,” Satoshi, bitcoin’s unknown creator, said when introducing the idea of the first trustless digital currency. Norwegian bitcoiner Hodlonaut said, “I have done very little really [to prepare for the coronavirus.] Norwegian society is pretty robust, it’s hard to see that food supply will become an issue and we have very high quality tap water in unlimited supply.” See also: Bitcoiners Are Biohacking a DIY Coronavirus Vaccine “I just hodl my bitcoin (BTC) like always,” he added. Likewise, Ramey said that people rushing out to buy toilet paper and hand sanitizers “aren’t preparing, they’re reacting.” “People can come into preparedness from different angles, but it all boils down to understanding the world is fragile and the responsibility is on you,” Ramey said. Financial sovereignty Hector Rosekrans, client advisor for bitcoin software firm Casa, is building systems that allow people to maintain control over their money in times of financial crisis. “While COVID-19 can impact operations at centralized custodians, self custody is not impacted,” he said. “With certain multisig setups you can safely keep a key at home, without risk losing funds in a physical attack.” Concentration risk is something Anil Lulla is facing head on, as he lives with two of his Delphi Digital business partners. “Our apartment has severe concentration risk as far as our business goes,” he said. “We’re all trying to social distance from other people to the best of our abilities and have stocked up on a month of food supplies as well as medicine.” He also said they’re taking measures to self-medicate in the event one of them gets sick, to not take up hospital space or medical attention that could better serve someone else. Likewise, Amber Baldet, CEO of Clovyr, said she’s taking precautions to limit the spread of the coronavirus in her Brooklyn, NY community. “I work with financial risk, and my family works with technical risk. We’re generally risk-averse people,” she said. As a young and healthy adult she said she will likely be spared the worst of the coronavirus’ effects, though she’s staying home and cancelling a trip to New York in order to mitigate the spread of the virus. See also: Bitcoiners in Europe Reflect on Economic Shocks as Coronavirus Spreads Many, like Jake Chervinsky, counsel for decentralized finance startup Compound, have seen little disruption to their daily habits – except more frequent handwashing. “Luckily, I often work from home since our office is in [San Francisco] and I’m based in [Washington] D.C.,” Chervinksy said. “I wouldn’t say I’m exactly self-quarantining at this point, but I’m prepared to do so if necessary.” Compound instituted a “remote-encouraged” policy and has begun cancelling non-essential in-person meetings this week, he said. Flatten the curve! The phrase “flattening the curve” has also had viral spread. The idea is to slow transmission rates through quarantining and social distancing, Ramey said, thereby limiting the chance the healthcare system gets overloaded. “I’ve been self-quarantined for basically a week [and] told everyone I knew to stock up over a month ago,” Nic Carter said over Telegram. “The U.S. is on a trajectory to become Lombardy/Wuhan within a couple weeks so it’ll happen regardless.” Still, Carter questions the assumption that the economy’s health should come before public health, as some in traditional finance have been arguing. “The economy is downstream from the virus, which could kill millions – a down economy probably wouldn’t.” Carter thinks the virus is a “ black swan ” event that was due to disrupt debt-bloated markets, probably for the better. It’s what attracted him to the currency in the first place. “Bitcoin’s primary critique is against phony markets,” Christian Langalis said. “That it was a virus which served as the pin seems fitting given our highly internationalized economy.” “When one blows up spectacularly, it really just confirms the thesis,” he said. Related Stories Bitcoin Ekes Out Gains but Remains in Red Amid Broader Market Rebound Despite Bitcoin Price Dips, Crypto Is a Safe Haven in the Middle East || Will DeFi Matter in a Post-Coronavirus World? Feat. Matt Luongo: Keep Project founder Matt Luongo discusses launching a bridge betweenbitcoin(BTC) andethereum(ETH) as well as what the world looks like for BTC and DeFi after COVID-19.
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.
Matt Luongo got his start in bitcoin in 2013. In 2016, he watched a pivotal moment where the “sound money, digital gold” narrative subsumed the payments use case for bitcoin. While he agreed, ultimately, with the importance of bitcoin as a new reserve asset, he still wanted to build and found his way to ethereum.
Related:Coronavirus Second Order Effects and Improving on Bitcoin With BitTorrent Creator Bram Cohen
See also:Corporate Socialism to Dying for the Dow: 7 Themes That Defined the Week
Now his company islaunching tBTC, a trust-minimized bridge between bitcoin and ethereum. Among other uses, it is a new solution to enabling bitcoin to be used as collateral in DeFi applications.
In this conversation, Matt and @NLW discuss these narrative shifts, as well as what the role and narrative for DeFi might be in a post-coronavirus crisis world.
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.
• Miner Perspectives on Bitcoin Halving 2020, Part 1 of a New Podcast Series
• 5 Reasons for Cautious Optimism in Crypto
• Using Bitcoin in Zimbabwe, Part 3 of a Six-Part Documentary Podcast Series || Miners Are Selling More Bitcoin Than They Are Mining: While bitcoin (BTC) looks set to prolong its recent bullish moves, those responsible for making new bitcoin have increased their selling.
The world’s largest cryptocurrency by market value rose from $3,867 to $7,000 in the 13 days to March 25, according to CoinDesk’sBitcoin Price Index. Yet, throughout the 81 percent recovery rally, miners sold more coins than what they generated, according to the miner’s rolling inventory (MRI) figure, a measure created by crypto data company ByteTree to track the changes in inventory levels held by miners.
The 21-day rolling MRI stayed above 100 during the entire duration of the recent recovery from lows below $4,000. An MRI above 100 means miners are selling more than they mine and running down inventory, while a below-100 MRI reading indicates miners are amassing inventory by selling less than they mine.
Related:Investors Regained Confidence in Bitcoin Amid Price Recovery, Data Suggests
Because prices continued to go up, there was more than enough appetite for the bitcoin the miners fed the market.
See also:Bitcoin Is a Safe Haven for a Worse Storm Than This
Mining poolsaccount forthe highest percentage of bitcoin flowing into exchanges and have significant influence on prices. Yet, some view the market’s reaction as a positive indicator.
“When the price of bitcoin can rally sharply from the local lows and buyers can absorb the extra bitcoin sold by the miners with little impact, it is a sign of strength in the overall market,” Connor Abendschein, crypto research analyst at Digital Assets Data told CoinDesk.
Related:US, European Stocks Up but Crypto Traders Remain Cautious
Miners also ran down inventory on Wednesday, asnoted byByteTreefounder and Chairman Charlie Morris.
“Miners sold 2,788 against 1,588 mined, slamming the market, yet the market takes it. This is bullish,” Morris tweeted during Wednesday’s European trading hours. The cryptocurrency dropped from $6,700 to $6,500 during the Asian session, possibly on miner selling, but reversed losses later in the day.
Other analysts, however, are of the opinion that one-day variances in net miner sales are often too small to make a valid judgement of the bullishness of the market.
“Wednesday’s sell volume of 2,788 wasn’t statistically significant enough to have much meaning on the larger bitcoin price movements.” said Alexander S. Blum, COO atfintech companyTwo Prime. “Compared to the amount of Bitcoins in the world, the miner sales were less than 1 percent,”
Yet because miners on average have sold more coins during the price recovery, it may be indicative of underlying market strength. To put it another way, the price rally looks to have legs.
Seealso:Bitcoin Mining Difficulty Posts Second-Biggest Percentage Drop in Its History
Nonetheless, the cryptocurrency remains vulnerable to bouts of risk aversion in traditional markets. Global equities have regained some poise over the past couple of days, mainly due to the massive fiscal and monetary stimulus unveiled by the U.S.
The coronavirus outbreak, however, is showing no signs of slowing down and markets are yet to get a true sense of the economic damage, which could be far bigger than what’s widely forecasted. For example, the U.S. initial jobless claims soared past three million in the week ending March 21, double economists’ expectations for 1.5 million new claims.
Not surprisingly, that has some expected dire predictions from certain corners of the market.
“If you think what’s happening now is the economic crisis, you’re wrong,” renowned gold bug (and crypto skeptic) Peter Schifftweetedearly Thursday. “This is the health crisis. The economic crisis is the one that follows, and will result from the fiscal and monetary cure. The crisis will not just be worse than the Great Recession, but the Great Depression.”
“We must remain cautious for another liquidity crisis,” Chris Thomas, head of digital assets at Swissquote Bank told CoinDesk.
• We Won’t Ever Think About the Financial System the Same Way
• Bitcoin in Rangebound Trading as Equity Markets Fail to See Stimulus Boost || Bitcoin, Ethereum & Litecoin - American Wrap: 3/31/20: Bitcoin Price Analysis: BTC/USD Still Facing Uncertainties
Bitcoin price is trading in positive territory, up 1.00% in the second half of the session.
The price is pushing for another big retest of a breached bearish flag structure.
A chunky barrier of resistance runs from $6500-$7000 price range.
Ethereum Price Analysis: ETH/USD Is Testing A Wedge Formation Just Above 130.00
Ethereum has struggled for direction on Tuesday after a bounce back from the weekend lows. Now the price has formed a wedge formation on the hourly chart and may break by the end of the US session. The 130.00 level seems to be intact after a few downside tests recently. If the level does break one of the main support levels is close to the 125.00 level and it seems to be slightly stronger.
Litecoin Price Analysis: LTC/USD Vulnerabilities Stack Up Underneath
Litecoin price is trading in negative territory by -0.10% in the session on Tuesday.
LTC/USD is consolidating, upside limited to $40, support noted at $37.
The next explosive breakout will be critical for the incoming committed direction.
See more from Benzinga
• Bitcoin, Ethereum & Litecoin - American Wrap: 3/30/2020
• Bitcoin, Ethereum & Litecoin - American Wrap: 3/26/2020
• Bitcoin, Ethereum & Litecoin - American Wrap: 3/25/2020
© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Japan Doesn’t Need a Digital Yen, Asserts BOJ Official: Advanced economies such as Japan’s don’t need a digital currency, the deputy governor at the Bank of Japan (BoJ) asserted during a recent meeting. Speaking at the Bank for International Settlement’s recent Future of Payments Forum, Deputy Governor Masayoshi Amamiya argued a Japanese central bank digital currency (CBDC) currently has little merit. CBDCs could greatly benefit developing countries, such as Cambodia , that have “immature” payment infrastructures, he said in a speech publicized Friday. But for advanced economies, the costs outweigh the benefits. Related: Algorand Blockchain Chosen as Underlying Tech for Marshall Islands’ Digital Currency “At this point, there is no need to implement new steps to ensure people’s access to central bank money,” according to a transcript of his speech. “Moreover, the currency systems and the payment and settlement systems of these economies are operating safely and stably. They cannot simply jump into new technologies, or actually, they should not.” Assuming CBDCs would operate at lower running costs compared to private initiatives, Amamiya continued, merchants would likely prefer CBDCs over private payment systems, both legacy and cryptocurrencies, but he said this would “suppress private business and discourage innovations.” If Japan introduced a digital yen, the central bank could also become the sole repository for the entire country’s transaction information, raising concerns about how the BoJ would store and protect personal financial data, Amamiya added. Threat from China Amamiya’s comments come after rising speculation that Japan was preparing to issue a digital yen. In February, senior politicians in the country’s ruling Liberal Democratic Party filed a formal proposal for the government to issue its own digital currency in the face of a rising monetary threat from the planned digital yuan from China. Related: With Central Bank Digital Currencies, States Are Reasserting Power Over Money Story continues Amamiya previously ruled out a digital yen in 2018 when he argued it could undermine the country’s two-tier financial system without providing additional benefits. In 2019, he said a move to a CBDC would only be viable if the whole country was prepared to abandon cash. In his most recent comments, Amamiya argued there were benefits for countries already experiencing a significant decline in the use of cash to move over to a CBDC model. Sweden’s e-krona initiative , he said, was one example where people who have struggled to adapt to cashless payments could be provided with ready access to central bank money. While he doesn’t favor a Japanese CBDC presently, Amamiya has advocated for more research into digital currencies. The BoJ was also one of six central banks to form a working group to share findings surrounding CBDCs earlier this year. Related Stories Bitcoin Rebounds as Coronavirus-Infected Stocks Get Jolt From Fed, BOJ BIS Paper Reckons With P2P Payments, Tokenized Securities, Central Bank Digital Currencies || The Gross Law Firm Announces Class Actions on Behalf of Shareholders of CAN, TLRY and NCLH: NEW YORK, NY / ACCESSWIRE / April 28, 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.
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=6237&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 underperformance 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=6237&from=1
Norwegian Cruise Line Holdings Ltd. (NCLH)
Investors Affected: February 20, 2020 - March 12, 2020
A class action has commenced on behalf of certain shareholders in Norwegian Cruise Line Holdings Ltd . The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) the Company was employing sales tactics of providing customers with unproven and/or blatantly false statements about COVID-19 to entice customers to purchase cruises, thus endangering the lives of both their customers and crew members; and (2) as a result, Defendants' statements regarding the Company's business and operations were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Shareholders may find more information athttps://securitiesclasslaw.com/securities/norwegian-cruise-line-holdings-ltd-loss-submission-form/?id=6237&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/587458/The-Gross-Law-Firm-Announces-Class-Actions-on-Behalf-of-Shareholders-of-CAN-TLRY-and-NCLH || INX’s $130M IPO to Launch Next Month as Exchange Seeks NY BitLicense: INX Ltd. has entered the home stretch for its $130 million initial public offering (IPO), potentially the largest registered securities sale by a company in the blockchain sector.
The cryptocurrency and security token exchange startup is targeting an April launch date for the IPO, people familiar with the situation said. INX is about to kick off a series of presentations to potential investors, known as a roadshow, which wasoriginally supposed to start in January, the sources said. The firm has hired a European investment bank to act as lead underwriter for the IPO, they said.
INX is positioning itself as a mature, dutifully compliant exchange eschewing the “beg forgiveness, don’t ask permission” practices that have defined the crypto industry for most of its history. Unlike the initial coin offerings (ICO) that claimed exemptions from securities laws by arguing their tokens weren’t investments or by selling only to wealthy investors, INX is registering with the SEC so it can solicit the general public. The process has taken the company two years.
Related:BitGo Reveals Bitcoin Lending Push; $150M Booked So Far
Doubling down on compliance, the company plans to relocate its headquarters from the blockchain-friendly jurisdiction of Gibraltar to New York, INX disclosed in itsprospectus, which was updated on Monday. That means it will have to obtain a state BitLicense to serve residents, and it is in talks with the New York Department of Financial Services (NYDFS) to obtain one, the people familiar with the situation said.
This is the regulatory equivalent of transferring from a community college to MIT. Only about 20 BitLicenses have been granted since the New York Department of Financial Services (NYDFS) finalized its regulation in 2015, although regulatory sources said the agency has assembled a team to expedite applications. Exchanges including Kraken and ShapeShift stopped doing business in New York, calling the license’s requirements onerous, and NYDFS recently began to reassess its rules.
In December, the deadline passed for the U.S.Securities and Exchange Commission (SEC) to register objections to INX’s prospectus,filed over the summer. With no comments received from the SEC, the company was free to proceed with the offering, which will be sold in the form of tokens on the Ethereum blockchain.
The proceeds from the IPO would fund the launch of a crypto exchange, known as INX Digital, and security token platform, INX Securities. In preparation, INX has lined up several partners.
Related:Startup Tokenizes $2.2B in Commercial Real Estate Through Polymath
For example, INX has tapped Anchorage and BitGo to custody digital assets on behalf of the exchange’s clients, people familiar with the exchange said. Anchorage confirmed its involvement, and INX namedBitGoin an SEC filing.
Further, Tokensoft is providing design and tech advisory services and Quantstamp will audit the exchange’s smart contract code, according to the filing.
INX’s token would be listed on its own security token platform and on other exchanges, according to the sources.
Holders of INX’s tokens would get a share of the company’s profits and stand in line ahead of equity investors for repayment in the event of bankruptcy; the tokens would also be accepted as payment for trading fees.
Meantime, INX has obtained money transmitter licenses in eight U.S. states so its crypto exchange will be allowed to handle fiat on-ramp and crypto-to-crypto transactions, the filing said.
The exchange would initially list the top 10 coins by market capitalization and add other coins and derivatives later, according to the filing.
• Stellar Invests in Security Token Platform Targeting Developing Markets
• Tokenized US T-Bond Fund Seeks Foothold in $17T Market || More Profit-Taking? Bitcoin Price Sags 7% Ahead of Easter Weekend: Major cryptocurrency markets fell 7 percent over the past 24 hours, withbitcoin(BTC) retreating below $7,000.
While traditional stocks saw modest gains during early trading hours Friday, the crypto market shed more than $13 billion over the past 24 hours, according to Nomics. Most large-cap cryptos fell more than 8 percent in that time period, with BTC’s 6.8 percent dip being the only exception.
The sell-off appears to have begun early UTC Friday.
Related:Crypto Long & Short: DeFi and Traditional Finance Are Forming an Unlikely Friendship
According to CoinDesk’sBitcoin Price Index, the world’s oldest cryptocurrency fell from about $7,300 at 01:00 UTC Friday to just above $6,800 as of press time, losing nearly $500 over 14 hours.
“Given some of the abruptness of the overnight move, it suggests that some larger holders were inclined to take profits at these relatively favorable prices,” David Nuelle, managing director of Hehmeyer Trading + Investments, told CoinDesk. “Other than that, I don’t see anything that would precipitate the market move.”
Still, Nuelle called bitcoin’s recovery from mid-March lows of roughly $4,100 “pretty impressive.”
“With other markets closed and it being a U.S. holiday, the crypto markets are generally feeling less liquid,” CMS Holdings Partner Bobby Cho told CoinDesk. “I don’t see this being an issue with crypto fundamentals, rather, short-term market liquidity issues.”
Related:Bitcoin Vaults: Developer Bryan Bishop Releases Prototype for Secure On-Chain Storage
Bitcoin cash(BCH) andbitcoin SV(BSV) lost the greatest portion of their value among the top 25 cryptos, falling 11 percent and 13.5 percent, respectively. However, both coins saw theirrespective halvingsoccurthis week, whichmay have contributedto the price decline.
In contrast to the crypto markets, traditional stock markets capped largely positive weeks. Both theS&P 500and theDow Jones Industrial Indexsaw major gains in the last four days of trading (markets were closed Friday for the Easter holiday), despite the economic hit caused by record job losses.
The U.S. saw 10 percent of its workforce laid off over a three-week period as a result of the ongoingCOVID-19 outbreak. Jobless claimsgrew 6.6 millionon Thursday, for a total of 16 million, according to CNBC.
Economies worldwide are bracing for an economic shock due to the pandemic. Germany and France are already seeing their economiesslide into a recession, the New York Times reported Thursday.
Zack Seward contributed reporting.
• Bitcoin Ends Four-Week Winning Run With Drop Into Bear Territory
• First Mover: Bitcoin’s Market Cap Eclipses Citigroup’s as Yellen Calls for Big-Bank Dividend Cuts || Bitcoin, Ethereum & Litecoin - American Wrap: 4/15/2020: Bitcoin Price Analysis: New Elliott Wave Predictions Put Targets Near 6K Bitcoin has had a tough few sessions this week falling from a high of 7,466 to around 6,750 where the price is today. It had been worse at one stage when the pair was trading at 6,555 and now that level is the support target for the bears. If that wave low does break to the downside then there are some Fibonacci expansion targets to watch. The 261.8% and 38.2% extension confluence pretty close to the 6K area. Often when Fib zones match up with round numbers they can act as a magnet for price. Ethereum Price Analysis: ETH/USD At Risk Of A $100 Return Ethereum price is trading in the red by 0.95% on Wednesday. ETH/USD is moving within a very tight range block, subject to a breakout. The price to move into a definitive trend needs to break down $200 to the upside, or $150 to the downside. Litecoin Price Forecast: LTC/USD Largely At Risk Trading Underneath Bearish Flag Litecoin price is trading in negative territory by 2.30 % in the session on Wednesday. LTC/USD is moving within a narrowing nature, sitting just above critical support at $40. The coming range breakout will likely be trend defining, with risks tilting to the downside. Image sourced from Pixabay See more from Benzinga Bitcoin, Ethereum & Litecoin - American Wrap: 4/14/2020 Bitcoin, Ethereum & Litecoin - American Wrap: 4/13/20 Bitcoin, Ethereum & Litecoin - American Wrap: 4/9/2020 © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 8897.47, 8912.65, 9003.07, 9268.76, 9951.52, 9842.67, 9593.90, 8756.43, 8601.80, 8804.48
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
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.
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• Top News and Analysis
• Latest News Video
• Personal Finance || 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. "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) || The biggest names in bitcoin and blockchain in 2016: While critics are still dubious of the future viability of the digital currency bitcoin, at least one group isnt: venture capitalists. VCs pumped more investment into bitcoin and blockchain-related startups last year than in any previous year nearly $1 billion . The investors are keeping this industry hot, even if we havent yet seen any so-called killer app," a mainstream use case for bitcoin that would compel the average person to care. And it isnt just investors leading the chargeits a handful of key executives, thinkers and even policy people . Of course, investors are just as keen on companies exploring the blockchain, which is the decentralized ledger technology on which bitcoin runs. (For a full explainer on blockchain, watch this video .) The hype around the idea of banks using a form of blockchain (without bitcoin) is high, even though a PwC survey this month found that 57% of financial executives say they're unsure about implementing blockchain tech in banking. So, who are the big believers? They are some of the biggest names in bitcoin and blockchain right now. Some are executives at the most well-funded companies, some are investors in those companies. All of them bring clout and connections to bitcoin and the blockchain. Here are 11 of them, curated by Yahoo Finance with input from a number of industry insiders. This is not a list of the hottest bitcoin companies, nor is it a ranking. Its an unofficial look at the individuals bringing mainstream attention to this still-nascent, still-controversial corner of tech. Call them the "bitcoin celebrities" if you like. This list is unranked (alphabetical order). Feel free to debate, dispute and make your own suggestions in the comment section. 1. Marc Andreessen, Andreessen Horowitz Everyone in tech knows Andreessen. He is the co-founder of Netscape, a board member at Facebook, eBay and others, and co-founder of the Silicon Valley powerhouse venture capital firm Andreessen Horowitz. The firms portfolio includes investments in bitcoin wallet company Coinbase (see No. 6), 21 Inc (see No. 9), and TradeBlock. In 2014, he wrote an op-ed in the New York Times boldly titled, Why bitcoin matters. He liberally shares bitcoin and blockchain-related news to his 500,000 Twitter followersa considerable benefit to bitcoiners. Story continues 2. Brian Armstrong, Coinbase When Coinbase, one of the earliest bitcoin startups, raised $75 million in funding in January of last year, it was at the time the biggest fundraising round ever for a bitcoin company. (The figure has since been shattered by 21 Inc.) And Coinbase, which has raised $107 million total, remains arguably the best-known name among all bitcoin startupsit is often where people go to get a bitcoin wallet and to buy their first bitcoins. It was first to market with a bitcoin exchange platform in the U.S. (others waited longer in order to get certain licensing) and Armstrong, its leader, is one of the most sensible thinkers in the industry. ( His post explaining the debate over block size distills the issue clearly.) 3. Adam Back, Blockstream Bitcoin is partially based on a previous system called hashcash, an algorithm that cut down on email spam by requiring proof of work, an early form of what is now bitcoin mining. Back created hashcash. Now the cryptographer, as president of blockchain startup Blockstream, has become one of the loudest voices in the debate over whether, and how, to increase the size limit of transaction bundles (or blocks) on the bitcoin blockchain. His experience in business (he's worked as a consultant to Nokia) and in academia (he has a PhD in distributed systems) have made him a unique authority in the space. Reid Hoffman, the influential co-founder of LinkedIn ( LNKD ), made a personal investment of $21 million in Blockstream, and the company has raised $76 million overall. 4. Vitalik Buterin, Ethereum Ethereum is a bitcoin alternative that some believe has more potential than bitcoin. The platform runs on a decentralized blockchain, like bitcoins, that allows for any peer-to-peer exchange of value, and it uses its own currency, Ether. And the company is a non-profit. Buterin developed the concept in 2013, and in 2014 sold about 60 million ether in a pre-sale , which worked out to $18.4 million at the time. The Ethereum chain went live last summer. Buterin, who is only 22, is seen as a wunderkind; he also helped launch Bitcoin Magazine. 5. Wences Casares, Xapo Reid Hoffman has called Wences Casares the Patient Zero for bitcoin in Silicon Valley. His startup Xapo was one of the earliest bitcoin wallet companies, though it's embroiled in a legal dispute with LifeLock, the company that acquired Casaress previous startup, Lemon. (LifeLock alleges Casares and others created Xapo while still working at Lemon, within LifeLock; he has filed a counter-suit.) Most importantly, PayPal created a new seat on its board of directors for Casares in January. The appointment was seen as big news for bitcoina bitcoin entrepreneur on the board of PayPal was quite a milestone. And Xapo has raised $40 million in funding. 6. Blythe Masters, Digital Asset Holdings Masters is one of a kind in the bitcoin world. She spent nearly 30 years as a JPMorgan ( JPM ) executive, including as head of global commodities, before leaving to run Digital Asset Holdings, a startup that seeks to apply blockchain tech to Wall Street. Its first big client: her former employer. JPMorgan is working with Digital Asset Holdings to test out a use of blockchain to settle transactions faster. DAH has raised $60 million in funding. Because Masters is a known name on Wall Street, her move brought big legitimacy to the space. (And Masters isn't the only female leader in bitcoin : Catheryne Nicholson is CEO of small blockchain startup BlockCypher, which has raised $3.5 million, and Elizabeth Rossiello is CEO of BitPesa, which is working on bitcoin payments in Africa.) 7. Jesse Powell, Kraken Kraken is a bitcoin exchange headquartered in San Francisco, but with most of its activity in Europe. Heres why thats relevant: Last year, when the New York State Department of Financial Services (NYDFS) released its controversial regulatory framework for bitcoin companies, the Bitlicense, Kraken led a charge of bitcoin startups out of New York . The company wont do business in the state, which is a financial risk but a compelling stance against what Powell and others see as restrictive legislation. Kraken, which has raised $6.5 million in funding, has stuck to that vow even as it has ramped up acquisitions lately, buying out Coinsetter , a U.S. exchange that itself had bought out Cavirtex, a Canadian exchange. Kraken's purchase of Coinsetter was the biggest ever M&A deal in the bitcoin space; Coinsetter did operate in New York, but now it won'tthat's how rigid Powell is in his stance. Kraken is continuing to get bigger, but without New York, the very place where so much of the activity around blockchain is centered. 8. David Rutter, R3 R3 CEV is the private firm that rolled out a consortium (the Distributed Ledger Group) for banks interested in exploring blockchain technology. More than 40 of them have signed on, including Bank of America ( BAC ), Citi ( C ), Deutsche Bank ( DB ) and Wells Fargo ( WFC ). And this month R3 announced an extensive test of online distributed ledgers for banks, with help from Chain, Ethereum (see No. 10) and IBM. It is R3 that has attracted institutions whose involvement can turn the abstract notion of "blockchain for banks into a reality. 9. Barry Silbert, Digital Currency Group In 2004, Barry Silbert founded SecondMarket, which allows people to buy stock in non-public companies. He sold the company to Nasdaq last year and has since launched Digital Currency Group, the biggest investment firm in bitcoin and blockchain companies. (It has invested in more than 75.) Most recently, DCG bought the leading bitcoin news site, Coindesk, acquiring the annual bitcoin industry conference Consensus along with it. Almost every time a bitcoin startup announces a new fundraising round, Silbert and DCG are involved. Silbert also launched the Bitcoin Investment Trust ( GBTC ), which trades over-the-counter and is designed to track the price of bitcoin. 10. Balaji Srinivasan, 21 Inc. Srinivasan, the cofounder and CEO of 21 Inc, is also a board partner at Andreessen Horowitz. When 21 first launched publicly, it remained mysterious. It wasnt clear what 21 would be doing, but observers had high expectations: The company raised more than any other bitcoin startup, $121 million in funding. Last year, 21 finally unveiled its first product a small bitcoin personal computer for building apps on top of the bitcoin blockchain. 11. Cameron and Tyler Winklevoss, Winklevoss Capital The Olympic rowers made their name when they sued Facebook ( FB ) cofounder Mark Zuckerberg and got $65 million. Since then, theyve been eager to prove themselves as entrepreneurs, and they have made bitcoin the space in which to prove it. They launched a bitcoin pricing index, Winkdex, in 2014the site is cleanly designed and tracks the price of bitcoin over time. This year, they launched Gemini, a bitcoin trading exchange. Like their pricing index, the design is appealing, but the user base is small. (Gemini is only doing an average $338,000 in trade volume per day, according to data from TradeBlock; by comparison, Kraken sees about $1.3 million in daily volume.) Their bigger ambition: the Winklevoss Bitcoin Trust, a bitcoin ETF, which will trade on the Nasdaq under the symbol COIN but still awaits regulatory approval. There are signs that the bitcoin community doesnt love the Winklevoss brothers yetone prominent bitcoin executive told Fortune , Our industry would prefer that if theres a celebrity spokesperson, it not be them. But the jetsetting duo certainly bring mainstream star power to bitcoin. -- This is the third in a three-part Yahoo Finance series focused on blockchain technology. The first part was about why big banks are expressing interest in the blockchain; the second part was about how you could invest in the blockchain. 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) || Bitcoin group scores funds from biggest names in industry: Bitcoin-related businesses raised more venture capital money in 2015 than in any year before: $485 million, according to industry news site CoinDesk . And yet, even as they court more VC interest, these companies continue to deal with skepticism from the general public and from top executives of big financial institutions, like Jamie Dimon of JPMorgan ( JPM ). So they're turning to a non-profit advocacy group for help. Coin Center, a 501(c)(4) lobbying group founded in 2014, calls itself the "leading non-profit research and advocacy center" for public policy on "cryptocurrency technologies such as Bitcoin." Its supporters already included well-known venture firm, Andreessen Horowitz (Marc Andreessen is a vocal bitcoin believer), and some of the biggest companies in the industry, including Chain, Coinbase, and Xapo. Now Coin Center is about to get a lot louder: This month it has raised $1 million in new donations, Yahoo Finance has learned. In an industry where the hottest companies have had recent fundraising rounds of $116 million (21 Inc.), $50 million (Circle) and $30 million (Chain), $1 million may sound like small potatoesand it is, although Coin Center says it will help fund travel for its five staff members, who spend much of their time meeting with lawmakers to discuss policy. But as some big banks have joined a consortium to explore the possibilities of the blockchain (the public, open ledger on which all bitcoin transactions are logged), what is significant here is that Coin Center's extensive list of new supporters includes some of the most powerful people in the exploding fintech sector. Among those who donated are 21 Inc. (which last year released a small bitcoin-mining computer aimed at making it easier to develop bitcoin apps), BitStamp, Overstock.com ( OSTK ), which was one of the first major online retailers to accept bitcoin as payment, and Digital Currency Group. That last firm is key: Led by SecondMarket founder Barry Silbert, DCG has invested in 65 different bitcoin companies, and the companies in its portfolio have raised 70% of all the venture capital in the space. DCG is to the bitcoin industry what Anheuser-Busch InBev ( BUD ) is to the beer market, or what IAC ( IAC ) has been to online-dating companies. Story continues " Our mission is to accelerate the development of a better financial system," Silbert tells Yahoo Finance, "and the way we will do that is investing in great companies, starting companies, buying companies, and helping organizations like Coin Center." In other words: Silbert wants to have his hands in as many digital-currency entities as possible to ensure his influence, and he is quickly carrying out that strategy. It's why DCG bought outright the industry's leading news site, CoinDesk. "There are many ways lawmakers could stifle the bitcoin blockchain," Silbert says, "so providing awareness and education is a very important part of what will make this industry sustainable." In short: Coin Center is getting more influential, and now it has people backing it who have deep pockets and major interest in keeping regulators from interfering too much in what bitcoin companies are doing. Coin Center is not a trade associationnone of the companies in the bitcoin industry are members. But it certainly shares their interests. Jerry Brito, Coin Center's executive director, is a law professor who has testified before Congress about cryptocurrencies. He says Coin Center's primary audience is policy-makersand these people can often be confused about the industry. The fear of bitcoin businesses is that politicians will hastily regulate, or even shut down startups, before they understand the technology. (The tension is not unlike the battle raging in daily fantasy sports right now.) Coin Center can help, Brito says: "P olicy makers hear about these negative aspects, whether its ransoms, or drug sales, or the like, and they will often contact law enforcement and say, 'What's up with this?' This is a challenge just like all new technologies have been, from email to pagers, but we think that we can get a handle on this." To that end, Coin Center teamed with the Chamber of Digital Commerce in October to help create The Blockchain Alliance, a safe-space private forum in which law enforcement groups like the FBI and the U.S. Department of Justice can pose questions to bitcoin startup executives and policy pundits. Think of the alliance like a Justice League for bitcoin. But it is unclear how frequently the forum is being used, since the media isn't allowed in. Last year, New York became the first state to release its own regulatory framework specifically devoted to digital currency businesses. Called the BitLicense, it was met with so much opposition from the bitcoin community that a slew of companies packed up and left New York, cutting off service to customers in the state. Other companies happily applied for a license, but bemoaned the high cost. Coin Center makes its stance on legislation clear. "If you look back, [former New York Department of Financial Services superintent] Ben Lawsky said he didn't want to interfere with innovation or hurt business. Ultimately, the BitLicense that we got did not succeed at that. It is not a good model for other states to follow," he says. " I think the only solution is a light touch approach. If you go heavy-handed, as a regulator, youll do two things: not meet your goals, typically, becasuse youll make it so difficult that people cant even comply with it, and not get the visibility that you want as a regulator." Those in the bitcoin business, of course, like that argument quite a lot. Marc Andreessen has been Coin Center's biggest donor since the beginning, giving the lion's share of help. But with Silbert flexing his muscle, Coin Center's role in advocating for digital currency will strengthen. (Brito says donors "can give input," but not dictate what Coin Center does.) Coin Center has received $2 million in donations to date, and it now plans to seek $1 million every year. It won't have much trouble getting it. -- Daniel Roberts is a writer at Yahoo Finance, covering sports business and technology. Read more: 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 Fantex, the 'athlete stock exchange,' signs first golfer || 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 || 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.
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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
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• Here's Why Europe Is About to Crack Down on Bitcoin Anonymity || 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) || Digatrade to Include Physical Gold Delivery as Withdrawal Option: VANCOUVER, BC / ACCESSWIRE / March 22, 2016 /BITX FINANCIAL CORP (BITXF) and its 100% owned and operated digital asset exchange DIGATRADE (digatrade.com) today are pleased to report that an offering of a new method of withdrawing funds in the form of physical gold to our EU clients will be made available. Gold, for centuries has proved to be a timeless and exceedingly valuable source of capital preservation due to its unwavering value. Additionally, gold has always been an efficient hedge against the inflation and currency risks. Bitcoin has been often described as digital gold so we intent to bring bitcoin and gold a bit closer. The Company is in discussions with an internationally recognized precious metals reseller operator with exclusive working relationships with mints based across Europe including Switzerland, The Austrian Mint and the Münze Österreich, the 800 year old Vienna-based mint.Gold prices will be quoted in USD and updated every 5 minutes. After this withdrawal option has been implemented, purchases will be available with USD. Before submitting an order, USD customers' balances must be available.
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 || 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
[Random Sample of Social Media Buzz (last 60 days)]
Artists Turn to Bitcoin for Inspiration, Not Personal Finance: http://ift.tt/213VkG9 #bitcoin #btc || Liquid Bitcoin || My robot has 550 hp left! I've earned a total of 324,580 free satoshis from http://www.robotcoingame.com/?id=5770499 #robotcoingame #Bitcoin || Liquid Bitcoin || Seen this morning: “Current price of Bitcoin is $420.00” Bitcoin: you buy your weed with it. || LIVE: Profit = $448.64 (5.49 %). BUY B19.82 @ $420.00 (#VirCurex). SELL @ $435.50 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || My robot has 278 hp left! I've earned a total of 151,420 free satoshis from http://www.robotcoingame.com/?id=5777014 #robotcoingame #Bitcoin || Liquid Bitcoin || Current #Bitcoin price: $431.3! Latest #BTC news at #LandBitcoin portal http://goo.gl/RNR1Cs || #Bitcoin Price Passes $420 Mark Amid Institutional Attention http://greathosting.space/bitcoin-price-passes-420-mark-amid-institutional-attention/ …pic.twitter.com/KsNc7s9dmD
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Trend: up || Prices: 421.56, 422.48, 425.19, 423.73, 424.28, 429.71, 430.57, 427.40, 428.59, 435.51
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2017-03-27]
BTC Price: 1045.77, BTC RSI: 46.40
Gold Price: 1255.40, Gold RSI: 66.79
Oil Price: 47.73, Oil RSI: 33.95
[Random Sample of News (last 60 days)]
Bitcoin steadies after biggest three-day tumble in over two years: By Jemima Kelly LONDON (Reuters) - Bitcoin regained its footing on Monday, having suffered its heftiest falls since early 2015 between Thursday and Saturday as investors sold the digital currency on worries about its future. Having soared to an all-time high of $1,350 on the Bitstamp exchange on March 10, on speculation that regulators could approve the first U.S. bitcoin exchange traded fund the following day, the digital currency then slipped back. Its falls began accelerating on Thursday and it hit a five-week low of $944.36 on Saturday. But bitcoin recovered a little on Sunday and built on those gains on Monday, climbing around 2.5 percent to roughly $1,050 by 1815 GMT. Bitcoin experts said its steep losses were driven by a longstanding, and intensifying, row over whether - and how - to increase the capacity of the "blocks" that bitcoin transactions are processed in, so as to make sure there are no delays in transactions being finalised. "The bitcoin scaling debate is a risk for the network and highlights core issues in terms of governance and this is where more nimble crypto competitors see advantages in fleshing out their capabilities sooner," said Charles Hayter, CEO of digital currency analysis website Crytocompare, in London. At the same time that bitcoin was plunging, a newer, rival "cryptocurrency" was soaring: ether. The digital currency behind Ethereum - a project that some experts say holds more potential than bitcoin - has almost tripled in value this month, jumping to record highs of around $45. Some experts said traders were selling bitcoin and buying ether, which was exacerbating the falls in the original cryptocurrency. "Traders in the space are looking for better returns in the more risky and nascent cryptos such as Dash, Monero and Ethereum (and are) looking to replicate the extraordinary returns that bitcoin saw in its early days," added Hayter. U.S. regulators dashed Cameron and Tyler Winklevoss's bitcoin ambitions earlier in the month by rejecting their application to list an exchange-traded fund linked to the digital currency. (Reporting by Jemima Kelly; Editing by Alison Williams) || 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) || What you need to know on Wall Street right now: Donald Trump (Donald Trump.Getty Images) Welcome to Finance Insider, Business Insider's summary of the top stories of the past 24 hours. Barclays, the 300-year-old British financial institution, is doubling down on investment banking in the US . "Our narrative needs to be: ' We are a top, fifth-ranked firm in the US' investment banking market — period ,'" John Miller, who is head of Barclays' corporate and investment bank in the Americas, recently told Business Insider. Elsewhere on Wall Street, hedge fund traders from a legendary desk at Goldman Sachs have lost billions of dollars . And the statue of the "Fearless Girl" will stare down the Wall Street bull for another year . The GOP's Obamacare replacement plan got pulled from a vote in the House on Friday, putting markets on edge. Here's what you need to know: How "Trumpcare" went up in flames — and why it should worry the GOP about the future Wall Street already knows how to spin Trumpcare's ugly collapse — but it's missing the point There's a reason why it's "been decades since significant tax reform has passed" Here's the next hill Trump, Ryan and House Republicans could die on Here's who has the most to lose if the government starts negotiating drug prices In markets news, one of Wall Street's favorite Trump trades is rewarding investors that bet against it . Hospital stocks are popping after the demise of "Trumpcare." Wall Street is getting one of its biggest calls of the year all wrong . In economics, Treasury Secretary Mnuchin says AI taking US jobs is "50-100 more years" away — but it's already beginning to happen . And seeing how the highest and lowest-earners spend their money will make you think differently about "rich" vs "poor." In deal news, Okta priced its IPO and hopes to hit a $2 billion valuation . And Elevate Credit, an online lender that focuses on riskier borrowers, is headed for an initial public offering . And in tech, t he No.1 investment bank advising Snap on its IPO is projecting massive growth for the company . T he YouTube advertiser boycott will cost Google $750 million , according to one analyst. And a Bitcoin civil war is threatening to tear the digital currency in two — here's what you need to know Story continues Lastly, take a look i nside the exclusive New York gym where Hugh Jackman, Victoria's Secret models and Wall Streeters work out . Here are the top Wall Street headlines from the past 24 hours. Saudi Arabia sweetens huge Aramco IPO with tax cut - Saudi Arabia's government has cut the income tax paid by national oil giant Saudi Aramco to smooth the company's initial public offer of shares next year, which is expected to be the world's largest equity sale. Brexit is already hurting London's reputation as a financial centre - London has seen its standing as a financial center slip as Britain prepares to trigger its departure from the European Union, according to a survey released on Monday, although rival European cities still lag far behind. Tesla is about to confront dueling best- and worst-case scenarios, and anything could happen - Tesla is preparing for its biggest year ever. Whole Foods is facing its worst nightmare after an unexpected threat stole millions of customers - Whole Foods is losing millions of customers to what was once an unthinkable threat: Kroger. This cocktail brought the "original American whiskey" back from the dead - Whiskey is experiencing a huge comeback in America. The Trump era is ushering in a "more is more" design renaissance in America - The Trump aesthetic is far from subtle. We got a peek inside a $20 million apartment in the latest skyscraper to dramatically alter Manhattan's skyline - Madison Square Park Tower is changing Manhattan's skyline. The 65-story glass skyscraper is the tallest in its Flatiron District neighborhood, and because of various zoning laws surrounding it, its fantastic views will never be obstructed. More From Business Insider What you need to know on Wall Street right now What you need to know on Wall Street right now What you need to know on Wall Street right now || Flow and Manchester United Team up to deliver the Ultimate Football Experience to Caribbean Footballers: MIAMI, FL--(Marketwired - Feb 27, 2017) - Up-and-coming Caribbean footballers between the ages of 13 and 16 will not be able to contain their excitement, as news breaks thatFlowandManchester Unitedwill hostThe Ultimate Football Experience, a skills-based competition, supported by theCaribbean Football Union. The programme seeks to give youngsters, the chance-of-a-lifetime to participate in a talent development football camp; and even earn a trip to Old Trafford, Manchester to seeMan Utd vs Crystal Palaceon May 21st2017.
The good news gets even better as registration opens this week for the football competition which runs from March through to May 2017. Here's how it works: skilled boys and girls can register online athttps://discoverflow.co/flowmanutd. Registered participants will then be instructed to appear at designated football festivals across all Caribbean markets in which Flow operates. The participants will engage in a Manchester United Soccer School's international programme, which has been specially devised for the campaign and will be delivered by CFU coaches. Throughout the competition Manchester United legends will also be making an appearance at the festivals to offer their tips and advice. This is a proven Manchester United Soccer School programme designed to build and test the skills of young footballers across the globe.
As the competition evolves, two participants from each market, along with their respective coach, will advance to a two-day skills session in Trinidad and Tobago to experience one-on-one training with CFU and Manchester United Soccer School Coaches. There, they will participate in a series of drills designed by the coaches and competefor the chance for two finalists and their coach to win a once-in-a-lifetime trip to Old Trafford in Manchester, England.
Considered to be the highlight of the development initiative the two winners along with their coaches will travel to the world-famous football stadium to witness first hand Manchester United's final Premier League game of the season against Crystal Palace. This VIP experience will also include a visit to the Manchester United Museum and Tour, taking in the history of the club followed by a tour of the iconic stadium.
Manchester United'sGroup Managing Director, Richard Arnoldsaid, "Youth development is at the heart of this Club's traditions and success. TheManchester United Soccer Schoolswere developed to help spread this spirit to as many children as possible. In recent years our partners have been instrumental in helping the great work of our Soccer Schools coaches reach young people around the world. We're proud to work withFlowon this project."
"Like Manchester United, Flow also has a deep sense of commitment to youth development as can be seen by our support of several programmes throughout the region that help to hone the skills of young footballers," saidGarfield Sinclair, Flow's newly appointed President of the Caribbean. Sinclair also said, "We're therefore proud to work in partnership with Manchester United to offer this once in a lifetime experience to our talented youngsters across the region."
The Caribbean Football Union's(CFU) President Gordon Derrick gave a ringing endorsement ofTheUltimate Football Experience,as he added: "The CFU is proud to be a partner with Flow on this exhilarating and beneficial initiative. Hundreds of young footballers in 15 countries -- half of the CFU's membership -- will have the opportunity to compete, hone their skills, and, for the finalists, live the dream. I am confident that this partnership will bode well for the future of football in the region."
The Ultimate Football Experienceis one of several Manchester United and Flow partnership initiatives. In January, Flowhosted the FA Cup Caribbean Tourduring which the Company gave football fans up-close and unprecedented access to football's most coveted trophy. The final leg of the tour culminated in the Cayman Islands, where Manchester United ambassadorDwight Yorke made an appearance.
Cable and Wirelessis Manchester United'stelecommunications partner in the Caribbean.
About C&W Communications
C&W is a full service communications and entertainment provider and delivers market-leading video, broadband, telephony and mobile services to consumers in 18 countries. Through its business division, C&W provides data center hosting, domestic and international managed network services, and customized IT service solutions, utilizing cloud technology to serve business and government customers.
C&W also operates a state-of-the-art submarine fiber network -- the most extensive in the region.
Learn more atwww.cwc.com, or follow C&W onLinkedIn,FacebookorTwitter.
About Liberty Global
Liberty Global is the world's largest international TV and broadband company, with operations in more than 30 countries across Europe, Latin America and the Caribbean. We invest in the infrastructure that empowers our customers to make the most of the digital revolution. Our scale and commitment to innovation enable us to develop market-leading products delivered through next generation networks that connect our 25 million customers who subscribe to over 50 million television, broadband internet and telephony services. We also serve over 10 million mobile subscribers and offer WiFi service across 5 million access points.
Liberty Global's businesses are comprised of two stocks: the Liberty Global Group (NASDAQ:LBTYA) (NASDAQ:LBTYB) and (NASDAQ:LBTYK) for our European operations, and the LiLAC Group (NASDAQ:LILA) and (NASDAQ:LILAK) (OTC PINK:LILAB), which consists of our operations in Latin America and the Caribbean.
The Liberty Global Group operates in 11 European countries under the consumer brands Virgin Media, Unitymedia, Telenet and UPC. The Liberty Global Group also owns 50% of VodafoneZiggo, a Dutch joint venture, which has 4 million customers, 10 million fixed-line subscribers and 5 million mobile subscribers. The LiLAC Group operates in over 20 countries in Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Más Móvil and BTC. In addition, the LiLAC Group operates a sub-sea fiber network throughout the region in over 30 markets.
For more information, please visitwww.libertyglobal.com. || Big Bitcoin ETF Decision Coming Today, Or Maybe Not: [Editor's note - Update: SEC Rejects Bitcoin ETF ] The much-awaited Securities and Exchange Commission decision on whether to approve or disapprove the Winklevoss Bitcoin ETF (COIN) may not actually come until Monday, March 13. The deadline to rule on this ETF is officially tomorrow, but theres a clause in the SECs policy that if a deadline falls on a weekend, its pushed to the next federal business day, according to Spencer Bogart, managing director and head of research at Blockchain Capital. One more day of anticipation on whether the bitcoin ETF is a go wouldnt be a big deal if it werent for the fact that the industry seems to be able to talk about little else. In fact, Friday, bitcoin prices raced to a new record high above $1,300 in anticipation of a SEC yes to this fund. Heres why this is such a big deal
Bitcoins Big Moment The Winklevoss Bitcoin Trust (COIN) would be the first ETF to offer investors everywhere easy, transparent access to this peer-to-peer, unregulated digital currency that has gathered quite a following since the financial crisis of 2008. That access would be made possible to anyone without the need to create separate accounts with bitcoin exchanges. To be fair, as Bogart puts it, adoption and use of bitcoins and its network have already been growing rapidly without the help of the ETF wrapper. Still, a bitcoin ETF should accelerate the already-fast-growing footprint of bitcoins. Why A Bitcoin ETF Matters A bitcoin ETF would be a significant catalyst for a few reasons, Bogart said. For one, it would open the gates of bitcoin to institutional capital. Among other things, this could have a profound impact on price. Most institutional investors have mandates that allow them to only invest in registered securities, and bitcoin isnt one, he says. But in an ETF, it would fit that bill. If nothing else, having a bitcoin ETF approved would improve public perception and help manage some of the regulatory risk many associate with bitcoins unregulated status. Story continues In addition, retail investors would be able to get exposure to bitcoin directly from their brokerage accounts instead of establishing a separate account with a bitcoin exchange, Bogart added. The way to think about ETF approval is as a low-probability catalyst that could accelerate bitcoins already-rapid adoption growth. About COIN COIN, led by Cameron and Tyler Winklevoss of Facebook fame, was first put in registration more than three years ago. Designed as a grantor trust, COIN would do in-kind creations and redemptions much like a physical commodity ETF such as the SPDR Gold Trust (GLD) , and the fund would use the Winklevoss own bitcoin exchange Gemini to set the price. That comparison to gold has been often touted. In an interview two years ago, the Winklevoss brothers told an audience of advisors that bitcoins are better than gold as a store of value, inflation hedging and access to a still-growing global ecosystem thats the future of the payments industry. Thats because the Winklevoss brothers see bitcoin as a commodity more than as a currency. An investment in the bitcoin ETF is an investment in the future performance of bitcoin and the underlying bitcoin protocol, not an investment in a bitcoin company, they said in an interview in 2014. Mike Venuto, head of Toroso Investments, argues that, to investors, the bigger picture is that bitcoin is all about global commerce. In a recent blog , he offered this perspective: In a recent white paper, Deloitte & Touche described bitcoin as an Internet of value exchange. The real value of bitcoin is about the utilization of the infrastructure on which it is based. The more bitcoins are mined, or hashed, the more a free encrypted version of the internet is expanded. This self-reinforcing infrastructure that becomes more dependable as more people participate, is called the blockchain. It can be used in a way to transfer securities, to create artificial intelligence, secure real estate or art transactions and, potentially, for all kinds of other transactions. Look at bitcoin this way: 20 years ago, the internet democratized access to information, and now the bitcoin blockchain is democratizing access to commerce. For now, access to bitcoin in an ETF can be found in the ARK Web x.0 ETF (ARKW) , which has a small allocation to bitcoins obtained through publicly traded shares of Grayscales Bitcoin Investment Trust (OTCQX: GBTC) . That allocation currently sits around 5% of that portfolio. But the launch of a strategy such as COIN would be consequential, Venuto says. In an age where asset allocation is its own asset class, a bitcoin ETF could have a place in many portfolios, he said. You can purchase bitcoins today. So, putting bitcoins into an ETF structure is not about making them accessible in a basic sense. It's about making bitcoins more accessiblethat is, investable for any investor within a brokerage account. Contact Cinthia Murphy 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 || 10 things you need to know today: (An elephant in Kenya's Amboseli National Park in front of Mount Kilimanjaro.Reuters/Goran Tomasevic)
Here is what you need to know.
The G-20 deals exporters a blow.Central-bank governors of the 20 biggest economies dealt a blow to Germany and other export countries when they removed a pledge from the communique to keep global trade free and open. Reuters reports they instead said that "the G-20 would work together to strengthen the contribution of trade to their economies."
Bitcoin crashes 20%.Bitcoin tumbled 20% over the weekend, hitting a low of $970, following a Wall Street Journal report that a disagreement among developers could result in the cryptocurrency splitting in two.
Chinese home prices are climbing again.Home prices in China increased in 56 of the 70 cities tracked, edging up 0.3% nationally, data released by the National Bureau of Statistics showed on Monday.
Denmark is out of foreign-currency debt.The Danmarks Nationalbank said in a statement: "On 20 March 2017, the Danish central government will repay its last loan in foreign currency, totaling 1.5 billion dollars. Thus for the first time in at least 183 years the Danish central government has no foreign currency loans."
Deutsche Bank is raising cash.The German investment bank will raise 8 billion euros ($8.6 billion) by selling shares at a 35% discount to last week's closing price, Bloomberg reports, citing a statement released Sunday.
Uber's president is out.Jeff Jones has stepped down as president at Uber, saying it was "not the situation he signed on for." Recode says Jones' departure is a result of the number of scandals at the company.
Authorities search the offices of Volkswagen's CEO.About 100 officials searched the offices of Volkswagen CEO Matthias Mueller and 46 other employees in connection with the company's emissions-cheating scandal, Reuters says, citing Bild am Sonntag.
Unilever wants to sell assets.The company is planning to sell the Flora margarine and Stork butter brands for 6 billion pounds, Reuters reports, citing British newspapers.
"Beauty and the Beast" has a huge weekend at the box office.Disney's movie raked in $170 million, making it the seventh-highest opening weekend of all time.
Stock markets around the world are mixed.Hong Kong's Hang Seng (+0.8%) paced the advance in Asia, and France's CAC (-0.5%) leads the losses in Europe. The S&P 500 is set to open down 0.1% near 2,375.
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• 10 things you need to know today || Hackers Hijack Hotels Smart Locks, Demand Ransom: A resort hotel in Austria has been the target of a series of hacks, including one that crippled the electronic "smart locks" on guest rooms. The attack prevented guests from accessing their rooms and prevented the issuance of new key cards, highlighting the potential fragility of systems in the so-called "internet of things." Lacking other options, the four-star Seehotel J?gerwirt paid the hackers a modest ransom in Bitcoin to reactivate their systems. In a followup statement to Bleeping Computer , the hotel's Managing Director Christoph Brandst?tter emphasized that no guests were locked into their rooms, because international fire codes mandate that electronic hotel locks must open from the inside even in the event of system failure. Get Data Sheet , Fortune 's technology newsletter. According to the Austrian Broadcasting Corporation (ORF), the key system compromise occurred at the beginning of the current ski season, while the hotel was fully booked. A smaller attack, the fourth that has hit the hotel, occurred earlier this month. During the larger attack, which also compromised the hotel's reservation systems, the hijackers demanded a ransom of 1,500 Euros in Bitcoin before re-activating the compromised systems. Another prior attack, over the summer, was also resolved with the payment of a ransom of "several thousand Euros." Police were not able to uncover clues as to the culprits in the hacks. Brandst?tter told ORF that he was aware of other hotels being the target of similar attacks. Add electronic locks, then, to a target-rich environment that includes the poorly secured webcams and DVRs that powered widespread denial of service attacks in October, and, at least in theory, hackable connected cars . The lakeside hotel has already spent a reported 10,000 Euros on digital security to try and stop hackers. But it also plans to take an unconventional step back in time. According to Brandst?tter, the hotel's next remodeling will include a return to room locks with standard mechanical keys. Story continues See original article on Fortune.com More from Fortune.com Forecasting Yahoo's Foggy Fate Facebook, Uber, Slack, and Pandora Pros Praise Free Security Tools The Best Way for Companies to Prepare for Inevitable Data Breaches: Rehearse Exclusive: ForeScout Preps for Possible IPO Adding McKesson Finance Chief to Board John McAfee's Cybersecurity Investment Firm Received a Subpoena from the SEC || Friday Hot Reads: US Jobs, Wages Show Solid Gains In Trump's First Full Month: Compiled by ETF.com Staff
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Permalink| © Copyright 2017ETF.com.All rights reserved || Bitcoin Plunges as SEC Denies Cryptocurrency-based ETF Application: DailyFX.com -
Talking Points:
• The Securities and Exchange Commission rejected a Bitcoin-based exchange-traded fund application
• Bitcoin declined as much as 24 percent against the US Dollar, this also marked a 1-month low
• The SEC cited concerns over Bitcoin’sunregulated market as part of the rejection
Have a question about trading the markets?Join aQ&Awebinarand ask it live!
The markets were delivered a shock of volatility towards the end of the trading week as the Securities and Exchange Commission (SEC) rejected a Bitcoin-based exchange-traded fund application (ETF). As the news crossed the wires, the digital currency fell as much as 24 percent against the US Dollar in the space of minutes, touching a one-month low. It quickly pulled back from its extremes to trim some of its losses, leaving a 1-hour candle that offered a 14 percent contraction.
In terms of what the group requires for ETF applications to be approved, the SEC upholds that the product in question must be consistent with rules designed to prevent fraudulent and manipulative practices to protect investors and the public interest. Having said that, the commission noted that because significant markets for Bitcoinare unregulated, the exchange wouldn’t be able to perform sufficient surveillance.
As Chief Currency Strategist John Kicklighter mentioned in previous analysis, one of the fundamental drives for Bitcoin is its value as analternative to traditional fiat currency– a role benefited by the lack of regulation. Fiat money is defined as being a unit of account, store of value and medium of exchange. The SEC’s decision is a step away from boosting the legitimacy of the new asset which could subsequently bolster liquidity to the digital currency. Yet, despite the setback, Bitcoin remains the most liquid of the cryptocurrencies.
Moving forward, Bitcoin traders and users will weigh this development in terms of its long-term adoption and development. Inclusion in popular financial products like exchange-traded products isn’t the only path to prominence for this alternative asset. It continues to enjoy considerable appeal amongst global participants looking to circumvent capital controls. This value lead the Bitcoin to its first true surge in 2013 when Cyprus cut off fund withdrawal of locals and foreign investors offshoring capital in the country. China has become the most recent test of this back channel asset. However, authorities in the financial power house of taken considerable steps these past weeks to rein in Bitcoin exchanges.
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 fromIG. || Bitcoin dives below $1,000: Bitcoinis back below $1,000. Overnight selling has pushed the cryptocurrency down 1.10%, or $11, to $989 a coin, and below the psychologically important level for the first time since February 3 as sellers remain in control following the decision by some of China's largest exchanges toblock withdrawals.
Last Thursday, following a meeting with the People's Bank of China,HuobiandOK Coinannounced customers would be blocked from withdrawing their bitcoins.
The announcement comes following a wild start to 2017 for bitcoin. It rallied more than 20% in the opening week of the year before crashing 35% on fears China would crack down on trading.
Last week's announcement wasn't the first action China's exchanges have taken this year to curb trading. Earlier, they announced they would begincharging a flat feeof 0.2% per transaction.
(Markets Insider)
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[Random Sample of Social Media Buzz (last 60 days)]
Musician & Bitcoin Enthusiast Tatiana Moroz Reintroduces Tatianacoin. #investorseurope #blockchainhttp://rocktrader.eu/p/4075194246/2017/02/12/musician-bitcoin-enthusiast-tatiana-moroz-reintroduces-tatianacoin-investorseurope-blockchain?utm_medium=social&utm_source=twitter … || Ciao @krystel1966 , 0.02 Bitcoin sono tra 18,50 e 19,00 euro, a seconda dei siti di exchange. dà un'occhiata qui https://gobitcoin.io/it/ ;) || Bitcoin Supply Exchange 3500% of your deposit after 24 hours, list of businesses. http://ow.ly/YkRS3095fc4 || Bitcoin Community Alert: How Scammers Monetize Traders Fears and Greed - https://cointelegraph.com/news/bitcoin-community-alert-how-scammers-monetize-traders-fears-and-greed … $BTC #altcoin #cryptocurrency #markets || BitStarz No Deposit Free Spins on Gonzo’s Quest – Bitcoin Casino http://newfreespinscasino.com/?p=10047 || $1010.80 #bitfinex;
$1012.61 #GDAX;
$995.00 #btce;
$1011.42 #bitstamp;
$1010.98 #gemini;
Bitcoin Mining: http://bitly.com/2kmoC9o || 1 KOBO = 0.00000394 BTC
= 0.0042 USD
= 1.3230 NGN
= 0.0549 ZAR
= 0.4341 KES
#Kobocoin 2017-02-19 06:00 || Price Alert: DNotes -19.18% 1h change $NOTE - Current Price: 0.00000628 BTC | More #NOTE Info http://crypto.press/coins/NOTE-DNotes … #CryptoPress || petertodd: FWIW Samson had to move back to Canada for family reasons, which makes being COO of a Chinese company dihttps://www.reddit.com/r/Bitcoin/comments/5ugfjx/samson_mow_leaving_btcc/ddtw3i8?context=3 … || Educating the Masses on all matters Bitcoin!
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Join Us and We will Teach You ALL about Bitcoin! pic.twitter.com/za287Pn27b
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Trend: up || Prices: 1047.15, 1039.97, 1026.43, 1071.79, 1080.50, 1102.17, 1143.81, 1133.25, 1124.78, 1182.68
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Jack Dorsey Goes on Unfollowing Frenzy After Web 3 Beef: To the uninitiated, it sounds like a bunch of rich guys arguing over how many angels can dance on the head of a pin. But beyond Twitter drama, Block Inc. CEO Jack Dorsey’s public sparring with venture capitalists over “Web 3″ serves as a proxy for a long-running debate – not only about which cryptocurrencies are best but what they are good for. The contretemps highlights important questions about what a truly decentralized internet would really look like, and what role different stakeholders have in building it. Dorsey, a longtime bitcoin aficionado, appears to have aligned himself with the so-called maximalists, a camp highly suspicious of any rival to the original cryptocurrency and any non-monetary application of the underlying technology. Both sides of the Web 3 debate bemoan the current state of the internet, dominated by a handful of large platforms (not least of all Twitter, where Dorsey stepped down as CEO last month). But the maximalists distrust the Web 3 crowd’s use of crypto tokens as a way to fund such projects. The fact that VCs are big holders of these tokens is, to the maximalists, damning, a classic case of “meet the old boss, same as the new boss.” Web 3 advocates, which include but are not limited to VCs, counter that a variety of approaches is needed to make good on the internet’s liberating promise; that tokens can align participants’ interests in a network; that Web 3 developers’ reliance on VCs is a perverse consequence of outdated securities laws ; and that while Bitcoin was a bona fide breakthrough, its utility is limited and the purists are being shortsighted. Since his controversial tweet on Dec. 20, declaring that VCs, not users, control Web 3, thus making it a “centralized entity with a different label,” Dorsey has gone on an unfollowing spree on the social network he co-founded and ran for years. You don’t own “web3.” The VCs and their LPs do. It will never escape their incentives. It’s ultimately a centralized entity with a different label. Know what you’re getting into… — jack⚡️ (@jack) December 21, 2021 Some of the most well-known players in the crypto space, including Andressen Horowitz (a16z) co-founder Marc Andreessen, Coinbase CEO Brian Armstrong and Gemini co-founder Tyler Winklevoss, have been felled by Dorsey’s unfollow button. Andreessen later blocked Dorsey. Story continues Proponents, like Dorsey, have long touted the Bitcoin network’s utility as a tool of liberation to be used by the people, as a way to resist financial censorship and protect against hyperinflation. On that score, few if any in the Web 3 camp would likely disagree. The ongoing debate centers around the level of decentralization in the burgeoning Web 3 space, into which big investors have been pouring money – and, in the eyes of their critics, gaining outsized control in exchange. Dorsey has been increasingly critical of non-bitcoin crypto projects, which he sees as going against the decentralized ethos of Bitcoin, culminating in Monday night’s Twitter spat. Web 3 investors and supporters alike pushed back against Dorsey’s claim that Web 3 will “never escape [venture capitalists’] incentives.” Balaji Srinivasan, former chief technology officer of Coinbase and a former partner at a16z, responded to Dorsey’s tweet to voice his disagreement and point out how Twitter’s own corporate interests shaped the company in ways that betrayed its early slogan, “the free speech wing of the free speech party.” “Web 3 offers the possibility, not guarantee, of something better,” Srinivasan tweeted. “All false,” Dorsey replied, kicking off a fight that has lasted well into Wednesday and shows no sign of slowing down. Ethereum raised $0 from VCs. https://t.co/NE9xDTSEld — Balaji Srinivasan (@balajis) December 22, 2021 On Dec. 21, Dorsey re-tweeted an unflattering cartoon depicting an Ethereum-enabled Web 3 faucet pouring water into the waiting mouth of a corpulent venture capitalist, while a starving retail investor waited for droplets to fall on his tongue. In a quote-tweet of this post, Srinivasan pointed out that the Ethereum project was initially funded in 2014 by a public crowdsale, not through a venture capital round. Later that evening, Dorsey tweeted more directly: “The VCs are the problem.” Dorsey’s pot-stirring is reminiscent of another Big Tech CEO with a finger in the crypto pie – Tesla CEO Elon Musk , who also joined the fray on Monday night, tweeting “Has anyone seen web3? I can’t find it.” Dorsey’s reply was a thinly veiled reference to Andreessen Horowitz’s domination of Web 3: “It’s somewhere between a and z.” A16z bought $80 million in Twitter shares in 2011 on the secondary market. Dorsey, for his part, seems to be taking the heat in stride. When Andreessen blocked Dorsey on Twitter, Dorsey posted a screenshot and cheekily tweeted “I’m officially banned from web3.” After unfollowing a host of prominent Web 3 supporters, Dorsey has gone on a following spree, adding several bitcoin maximalists and open-source software contributors . || Shiba Inu Gets Major Merchant Adoption Boost with BitPay Integration: Shiba Inuwas attacked a few days for being a useless cryptocurrency, but the token has gained huge adoption since that time. It is now becoming easier to pay for goods using Shiba Inu thanks to the adoptions.
The cryptocurrency market has underperformed over the past few hours, with the prices of most coins down by more than 5% during that period.Bitcoinis currently struggling below the $48k level whileEtheris down by over 4% in the last 24 hours.
BitPay, one of the leading payment processors in the cryptocurrency space, announced yesterday that it had now added SHIB to the list of cryptocurrencies it supports. This means that SHIB holders can now pay merchants using the token.
However, the adoption news didn’t affect Shiba Inu’s performance as the token’s price is down by more than 4% since BitPay announced the integration yesterday. SHIB’s performance has been affected by the broader cryptocurrency market, which is currently in a bearish trend.
SHIB’s technical show that the token is currently underperforming. The MACD line is dip within the bearish territory, and the token needs to rally if it intends to go back to the neutral zone. The RSI of 36 shows that SHIB is currently oversold and could record further losses in the coming hours. Shiba Inu is trading below its 50-day simple moving average, and theprice oscillatoris also negative at the moment.
Earlier this month, Wolf of Wall Street,Jordan Belfort, attacked Shiba Inu, calling it a shit cryptocurrency. He said some of the creators of thememe coinsdeserve to go to jail for creating useless cryptocurrencies as the coins have nothing to offer.
However, Shiba Inu has been in the news for positive reasons since then. Shiba Inu is set to undergo a massive burn in the coming weeks as itprepares to enter the metaverse space. Furthermore, Shiba Inu’s partnership with Travala means that the coin is now accepted aspayment for its numerous products and services. Travala provides traveling and hotel booking services to millions of customers globally, and the customers can now pay for the services using SHIB tokens.
Thisarticlewas originally posted on FX Empire
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• Mongoose Coin Is a Reality After Ironic Remarks by a US Congressman || MicroStrategy CEO Michael Saylor: Gold should be scared of bitcoin: Bitcoin's rise as an investment could spell long-term doom for gold as an asset class, fancies crypto bull and MicroStrategy founder Michael Saylor. "The only thing that is threatened by bitcoin is gold," said Saylor on Yahoo Finance Live . "The best thing you could do is sell all $10 trillion of gold and buy bitcoin. Gold is a dead rock. It's the worst-performing asset, bar none, no debate. There is no hope for it." That buy bitcoin, dump gold strategy has worked well this year as investors flock to assets they believe can outperform during high inflationary periods (as we are in right now). Bitcoin prices have surged 63% year-to-date to $47,833 as of Thursday afternoon. At one point in the year, bitcoin prices were up 131%. As for gold, prices have tanked about 9% year-to-date. Saylor continues to put his company's money where his mouth is. The long-time crypto proponent revealed Thursday in a tweet to his 1.9 million followers that MicroStrategy purchased an additional 1,434 bitcoins for $82.4 million in cash at an average price of $57,477. As of Dec. 9, MicroStrategy holds 122,478 bitcoins valued at $3.66 billion. The average price for the bitcoin tallies $29,861. Saylor added he continues to see only one direction for bitcoin prices to head: up. "I have said it before, bitcoin is going up forever," Saylor said, pointing to more global adoption and long-run inflation for his bullishness. Brian Sozzi is an editor-at-large and anchor at Yahoo Finance . Follow Sozzi on Twitter @BrianSozzi and on LinkedIn . Read the latest financial and business news from Yahoo Finance Follow Yahoo Finance on Twitter , Instagram , YouTube , Facebook , Flipboard , and LinkedIn || Indians Could be Jailed for Bitcoin Transactions: In a move likely to bring a total end to crypto trading in the country, Indian authorities have proposed a law that will ensure strict punishment for those who don’t comply with its proposed cryptocurrency regulations. India Wants to Jail Crypto Bill Defaulters This proposal includes arrest without a warrant and jail time without the option of bail. Reuters reported that the new rules which seek to ban the use of crypto as a payment instrument in India include these punishments as part of the effort to enforce it. The government has previously stated that it plans to ban crypto assets, similar to what China did recently. The bill intends to ban all activities related to crypto, including mining, hodling, selling, or dealing in digital currency as a medium of exchange, a unit of account, and store of value. This bill contradicts a previous statement of the government where it claims that it intends to promote blockchain technology. With this bill, the cryptocurrency sector and the growing non-fungible sector in the country will be significantly affected. Effect of the Bill The plans to ban cryptocurrency trading have led many investors to sell their digital assets despite the losses. According to a crypto investor, Naimish Sanghvi, Tether ( USDT) lost about 25% of its value as it fell to 60 rupees ($0.8061) after news of the ban. The high sales volume also affected many exchanges that were having problems with deposits and withdrawals. According to one of the largest trading platforms in the country, WazirX , it had to resolve issues delays experienced by users on its platform. India has one of the largest crypto investors in the world, with about 15 – 20 million residents holding around 450 billion rupees ($6 billion) in crypto assets. With this ban, the government will also crackdown on advertisements encouraging people to invest in crypto. There’s also the likelihood of banning self-custodial wallets. The move to ban crypto comes after the central bank expressed concerns about the risks of digital currencies. The central bank is also working to prevent registered financial institutions from getting involved in crypto. It remains to be seen what effect the ban will have on the cryptocurrency sector in India and the whole world. Story continues This article was originally posted on FX Empire More From FXEMPIRE: Silver Price Forecast – Silver Markets Continue to Build Basing Pattern Gold Price Prediction – Prices Edge Higher as the Greenback Declined Why Roku Stock Is Up By 10% Today Gold Price Forecast – Gold Markets Test Previous Trendline Again Crypto Market Today: Bitcoin Remains At Risk, Ether Stable, and LINK Gains Pace Arista Networks Is A Big Money Favorite || Best Oversold Growth ETFs to Buy Now: Big Money has been selling a lot recently, causing losses almost market-wide (energy being the only survivor). Fears over inflation and the Federal Reserve raising interest rates, among other worries, have spooked investors. Going to MAPsignals.com, we can scan Big Money ETF buys and sells. Recent big selling, indicated by the deep red lines in the chart below, can help explain the market drawdown: Source: www.mapsignals.com When markets move like this, the hysteria can entrap great assets and cause them to be sold off. To identify those “unfairly hit,” long-term investors need to look for ETFs (and their stocks) with great setups. Remember: ETFs are just baskets of stocks, so we need to look at them in detail. MAPsignals specializes in scoring more than 6,500 stocks daily. If I know which stocks compose the ETFs, I can apply stock scores to the ETFs. Then I can rank them all from strongest to weakest. Let’s get to the five best oversold growth ETFs to buy now. #1 iShares Expanded Tech-Software Sector ETF (IGV) This ETF has been getting hammered since about mid-November of last year. Below are the buys and sells for the fund according to the Big Money process: IGV holds several solid stocks; one example is its largest holding, Microsoft Corporation (MSFT) . Here are the times MSFT was a high-ranking Big Money buy signal since 2016: #2 First Trust Dow Jones Internet Index Fund (FDN) FDN holds some of the biggest, most successful stocks out there. These are names we’ve all heard of and know well. Their ability to bounce back is appealing, as is the growth of FDN: One great stock FDN holds is Amazon.com, Inc. (AMZN). It’s a long-time Big Money favorite with awesome fundamentals. As the multi-year chart below shows, it’s been a monster stock for a while: #3 First Trust Cloud Computing ETF (SKYY) Big Money started buying this ETF focused on cloud computing back in 2020, and no wonder because it holds tremendous stocks. Given its quality, I think this could be a great opportunity to get a solid growth ETF at a discount price: Story continues One of the biggest holdings within SKYY is Arista Networks, Inc. (ANET) . It’s an outlier stock that Big Money has liked for years: #4 iShares Russell 2000 Growth ETF (IWO) While it’s been a weaker-performing ETF of late, IWO still holds stocks with strong growth prospects. IWO has been sold hard, but this could be an opportunity: One company within this ETF on a pullback that could flourish is Synaptics Incorporated (SYNA). Big Money loved it for years. The multi-year chart shows a lot of blue signals years ago: #5 ARK Innovation ETF (ARKK) While it has fallen significantly, ARKK holds innovative companies that could overturn the business world. So, it could be a potential scoop down here. One great stock in ARKK is Tesla Inc. (TSLA). It’s held up relatively well during the growth pullback and has a phenomenal long-term trend. Big Money has loved TSLA for a long time: Fair or not, all these ETFs have been hit hard this year due to their growth-oriented focus. But that doesn’t change the fact they hold great stocks that could rise in the future. The Bottom Line IGV, FDN, SKYY, IWO, and ARKK are my best oversold growth ETFs to buy now. These picks are poised to do well going forward, in my opinion, largely because they each hold great stocks. They may be experiencing selling pressure, but on quality assets, deep red days often prove to be fire sales over time. To learn more about MAPsignals’ Big Money process please visit: www.mapsignals.com Disclosure: the author holds no positions in IGV, FDN, SKYY, IWO, ARKK, MSFT, AMZN, ANET, SYNA, or TSLA in managed or personal accounts at the time of publication. Investment Research Disclaimer https://mapsignals.com/contact/ This article was originally posted on FX Empire More From FXEMPIRE: Nat Gas Bulls Hoping Midday Models Confirm Early Feb Cold Crude Oil Markets Continue to Break Out Issues Arise With NFL’s Star Bitcoin Salary Natural Gas Markets Have Explosive Day on Wednesday Why Microsoft Stock Is Up By 4% Today IRS: “NFTs & Crypto Are the Future; for Fraud and Manipulation As Well” || Bitcoin cae por debajo de línea de tendencia bajista, con soporte en $35.500: Bitcoin no logró penetrar la resistencia técnica crítica a principios de esta semana y ahora se encuentra frente a un nivel de soporte de $35.500.
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Los precios cayeron un 4,6% el miércoles después de que los compradores no consiguieran atravesar la línea de tendencia que conecta los máximos alcanzados en noviembre y enero.
La criptomoneda más importante era negociada cerca de los $36.400 al cierre de esta edición, lo que representa una caída del 1,3% en el día.
El descenso de bitcoin y las lecturas del gráfico diario y el de cuatro horas del RSI —índice de fuerza relativa— indican el fin del rebote correctivo y la reanudación de una tendencia bajista más amplia.
El soporte se encuentra en $35.500 —la línea horizontal en el gráfico de cuatro horas— seguido por el siguiente nivel de soporte, de $32.933, el mínimo alcanzado el 24 de enero.
Se necesita un cierre convincente por encima de la línea de tendencia bajista de 2,5 meses para invalidar el sesgo bajista inmediato. || Bitcoin Mining Difficulty Sets New All-Time High: Mining difficulty on the Bitcoin network increased by 9.32% and hit an all-time high of 26.64 trillion on Jan. 21, at 3:07 UTC, beating the previousrecord set on May 13, 2021.
The difficulty is automatically adjusted based the amount of computational power on the network, or hashrate, to keep the time it takes to mine a block roughly stable at 10 minutes. The higher the hashrate, the higher the difficulty, and vice versa.
On May 13, 2021, bitcoin's mining difficulty hit a record 25.04 trillion, as primarily Chinese and North American miners deployed their machines.
The difficulty started dropping later in May when miners in China, at the time the biggest bitcoin mining country, went dark to comply with aregulatory crackdown. Hashrate and difficulty kept falling until late July.
Most miners from China estimated they would come back online in Q1 2022, so "we can attribute a good bit of this increase [in difficulty] to Chinese miners finally coming online in North America," Whit Gibbs, CEO of Compass Mining, told CoinDesk.
As Chinese miners found new homes for their operations, and new facilities came online, the hashrate and difficulty started to increase. By December, the hashrate had almost recovered from its July lows.
Read more:Bitcoin Hashrate Approaches Full Recovery From China Crackdown
Given the soaring price of bitcoin last year, miners booked "super profits," so they tried to get more mining capacity online as fast as possible, Jaran Mellerud, researcher at Oslo's Arcane Research, told CoinDesk.
Analysts and industry insiders expect the trend to continue well into 2022, as miners in North America, Russia and Europe plan to deploy even more machines – barring any unforeseen event like China's ban on crypto mining or a dramatic fall in the price of bitcoin.
"In 2022, we expect record growth of this indicator," Roman Zabuga, a PR representative for mining host BitRiver, told CoinDesk.
"From July 2022 to December 2022, most of the largest miners have enormous deliveries of the Antminer's newest ASIC Antminer S19 XP. These deliveries will make the difficulty soar throughout the whole 2022," Mellerud said.
Europe-based consultant at ProofOfWork.Energy Alejandro de la Torre added that mining continues to grow in surprising ways. Across Europe, many "are already or about to start mining bitcoin with extra, unused electricity capacity," he said.
Read more:8 Trends That Will Shape Bitcoin Mining in 2022 || Ray Dalio says your cash savings are not safe and will be ‘taxed by inflation’ — build a hedge with 3 alternative places to stash your money: Ray Dalio says your cash savings are not safe and will be ‘taxed by inflation’ — build a hedge with 3 alternative places to stash your money Some say cash is king. But according to Ray Dalio, founder of the world’s largest hedge fund Bridgewater Associates, it may not be wise to keep too much of your investment money in cash these days. “Cash is not a safe investment, is not a safe place because it will be taxed by inflation,” Dalio told CNBC last month. Dalio’s concern came after U.S. inflation hit a 31-year high in October. And prices continued to climb. In November, the consumer price index rose 6.8% on a year-over-year basis, marking its fastest increase since June 1982. Simply put, consumers are taking a big hit in their purchasing power. So let’s take a look at three ways to hedge against inflation — one could be worth pouncing on with some of your extra cash . Gold Maxx-Studio/Shutterstock Gold is often considered the go-to safe haven asset. It can’t be printed out of thin air like fiat money, and its value is largely unaffected by economic events around the world. The yellow metal has helped investors preserve wealth for centuries. Some believe this could be another one of its shiny moments. You can buy gold coins and bars at your local bullion shop. You can also look at large gold mining companies. If gold prices go up, these miners will earn higher revenue and profits, which tend to translate into higher share prices. For instance, companies like Barrick Gold, Newmont and Freeport-McMoRan typically do well during tough times for other sectors. There’s no need to start big. These days, you can build your own diversified portfolio just by using your leftover digital nickels and dimes . Bitcoin salarko/Shutterstock Once considered a niche asset, Bitcoin has entered the main stage. One reason people are increasingly adopting cryptocurrency is because they believe in its potential as an inflation hedge. Central banks can print money all they want, but the number of bitcoins is capped at 21 million by mathematical algorithms. Dalio recently said that Bitcoin is “almost a younger generation’s alternative to gold.” The price of Bitcoin has pulled back substantially in recent weeks, but is still up 60% year to date. If you want to buy Bitcoin directly, be aware many exchanges charge up to 4% in commission fees just to buy and sell crypto. A few investing apps charge 0% . Story continues Investors can also gain exposure through companies that have tied themselves to the crypto market. For instance, software technologist MicroStrategy has built a stash of 122,478 bitcoins. Electric vehicle giant Tesla holds around 43,200 bitcoins. Then there are pick-and-shovel plays like Coinbase Global, which runs the largest cryptocurrency exchange in the U.S. It’s true that these companies are all quite pricey, trading at between $238 and $899 per share. But you could get a smaller piece of Tesla or Coinbase by using an app that allows you to buy fractions of shares with as much money as you are willing to spend. Fine art Jenoche/Shutterstock Stocks are volatile, cryptos make big swings to either side, and even gold is not immune to the market’s ups and downs. That’s why if you are looking for the ultimate hedge, it could be worthwhile to check out a real, but overlooked asset: fine art . Contemporary artwork has outperformed the S&P 500 by a commanding 174% over the past 25 years, according to the Citi Global Art Market chart. And it’s becoming a popular way to diversify because it’s a real physical asset with little correlation to the stock market. On a scale of -1 to +1, with 0 representing no link at all, Citi found the correlation between contemporary art and the S&P 500 was just 0.12 during the past 25 years. Earlier this year, Bank of America investment chief Michael Harnett singled out artwork as a sharp way to outperform over the next decade — due largely to the asset’s track record as an inflation hedge. Investing in art by the likes of Banksy and Andy Warhol used to be an option only for the ultrarich, like Dalio. But with a new investing platform, you can invest in iconic artworks just like Jeff Bezos and Bill Gates do. This article provides information only and should not be construed as advice. It is provided without warranty of any kind. || Global Markets in 2021: Recoveries, reflation and wrecking balls: By Marc Jones and Saqib Iqbal Ahmed
LONDON/NEW YORK (Reuters) - For global financial markets, the second year of the COVID pandemic has been nearly as dramatic as the first.
The stocks bulls have stayed firmly in charge, surging energy and food prices have turbo-charged inflation, rattling the bond markets, while China has seen $1 trillion wipeouts in its heavyweight tech and property sectors.
On top of all that, Turkey exits 2021 in currency chaos, bitcoin and other cryptocurrencies have crushed it, small-time traders gave some hedge funds a drubbing and though green has gone mainstream, dirty oil and gas have been the big winners, up about 50% and 48%, respectively.
1/STOCKS TILL YOU DROP
MSCI's 50-country world index has added more than $10 trillion, or 20%, thanks to COVID recovery signs and the torrent of central bank stimulus that has continued to flow. The S&P 500 has gained 27%, while the tech-heavy Nasdaq is up 22%.
European banks have had their best year in over a decade with a 34% gain, but emerging market equities have lost a woeful 5% , led by a 30% plunge in Hong Kong-listed Chinese tech hit by Beijing's moves to limit their influence.
"We think U.S. equities are absolutely bonkers," said Tommy Garvey, a member of asset manager GMO's asset allocation team, adding that valuations in most other parts of the world were also expensive. (Graphic: World stocks have seen $10 trillion surge in value in 2021, https://fingfx.thomsonreuters.com/gfx/mkt/mypmnaejdvr/Pasted%20image%201640093340625.png)
2/OIL TAKES THE SPOILS
Commodity markets have had a blinder as the world's big resource-hungry economies have tried to get back to some kind of normal. Respective 50% and 48% gains for oil and natural gas are their best in five years and left prices well above pre-pandemic levels.
Key industrial metal copper hit a record high back in April and has jumped nearly 25% for the second year in row. Zinc has seen a similar gain, while aluminium has made about 40% in its best year since 2009.
Precious metal gold has dipped but the agri-markets have blossomed with corn up by nearly 25%, sugar up 22% and coffee 70%. (Graphic: Oil, gold, bitcoin, coffee and stocks, https://fingfx.thomsonreuters.com/gfx/mkt/dwpkrzwmnvm/Pasted%20image%201640120980934.png)
3/BEARS IN THE CHINA SHOP
China's crackdown on its big online firms, combined with a property sector crisis, have wiped over a trillion dollars off its markets this year.
Alibaba, China's equivalent to Amazon, has tumbled nearly 50%. The golden dragon index of U.S.-listed Chinese stocks is down 42%, while homebuilder Evergrande has just become its biggest-ever default.
That has sent a wrecking ball crashing into the Chinese high-yield or 'junk' bond market, which has lost roughly 30%. Property firms' bonds account for 67% of the main ICE Chinese high-yield index..
"If home sales keep dropping at the rate they are at the moment you could easily shave another 1% off of (Chinese) GDP," cautioned AXA Investment Managers' Head of Active Emerging Markets Fixed Income Sailesh Lad. (Graphic: Chinese stocks battered by Beijing clampdown, https://fingfx.thomsonreuters.com/gfx/mkt/gkvlgloqmpb/Pasted%20image%201640102441723.png)
4/BONDS - NO TIME TO BUY
Booming inflation and big central banks starting to turn off the money taps has made it a difficult year for bond markets.
U.S. Treasuries - the global benchmark for government debt investors - are set to deliver a loss of around 3%, their first red result since 2013, while German Bunds were down around 9% as of Dec. 22.
On the positive side, the most risky band of corporate 'junk' bonds - those rated CCC and below - have made around 10% in both the U.S. and Europe..
Inflation-linked bonds have also done well, unsurprisingly, with U.S. TIPs returning 6%, euro-denominated equivalents earning 6.3% and British linkers making 3.7%. (Graphic: Negative returns for most major bond markets in 2021, https://fingfx.thomsonreuters.com/gfx/mkt/myvmnalbapr/returnsdec21.PNG)
5/MEME MADNESS
Retail traders took to Wall Street in a big way this year, driving eye-popping moves and huge trading volume in the so-called 'meme' stocks.
Shares of GameStop rose nearly 2,500% in January, but will end the year up 700%. AMC Entertainment, another meme favourite, is still up about 1,200% for the year, although it was up as much as 3,200% in early June.
Tesla, doyen of the electric car sector, recovered from a skid early in the year. But other funds or stocks linked to innovation – such as the ARK Innovation Fund and some solar energy stocks, BioTech shares and special purpose acquisition companies or SPACs – are down 20% to 30%. (Graphic: Meme madness, https://fingfx.thomsonreuters.com/gfx/mkt/mopanqrlava/Pasted%20image%201639710413899.png)
6/TURKISH LIRA TAKES A BATH
Turkish lira slumps are hardly rare these days, but this year's blow-up has been spectacular even by its standards.
Things started to turn ugly in March when self-declared enemy of interest rates, President Tayyip Erdogan, replaced another central bank governor. But it has gotten worse since his new head of the bank started slashing rates in September.
Despite a modest bounce after the government sketched out an unorthodox plan to limit the pain, the lira is still down over 40% for the year and the government's bonds have been hammered. (Graphic: Turkey's turbulent 2021, https://fingfx.thomsonreuters.com/gfx/mkt/lbpgnlaywvq/Pasted%20image%201640105944633.png)
7/INFLATION PALPITATIONS
A surge in inflation became a major concern for investors in 2021 as the pandemic disrupted the global supply chain and made it difficult to meet demand for everything from microchips to potato chips.
With U.S. inflation ramping to its highest since the 1980s, the Federal Reserve announced this month it will end its pandemic-era bond purchases sooner than previously expected and the Bank of England became the first G7 central bank to hike interest rates since the COVID outbreak.
Other major central banks are expected to follow next year, but some of the major emerging markets are already well advanced in the process. (Graphic: Global inflation surged in 2021, https://fingfx.thomsonreuters.com/gfx/mkt/gdvzymojdpw/Pasted%20image%201640103430004.png)
8/SUBMERGING MARKETS
Investors had high hopes for emerging markets coming into the year, but many have been disappointed.
China's struggles and the persistence of COVID have seen EM stocks lose 5%, which looks even worse when compared to a 20% rise in the world index and the 27% leap on Wall Street.
Local currency EM government bonds have fared badly too, losing 9.7%. Dollar-denominated bonds have performed a bit better, especially in countries that produce oil, but J.P. Morgan's EM currencies Index, which excludes China's yuan, has shed almost 10% .
"China was the huge story of the year," said Jeff Grills, Aegon Asset Management's head of emerging markets debt, adding next year was likely to be all about how quickly and far interest rates rise and how growth holds up. (Graphic: Global FX in 2021, https://fingfx.thomsonreuters.com/gfx/mkt/klvykqkonvg/Pasted%20image%201640972753218.png)
9/CRYPTO CRUSHES IT
Bitcoin at nearly $70,000; "memecoins" worth billions of dollars; a blockbuster Wall Street listing and a sweeping Chinese crackdown: 2021 was the wildest yet for cryptocurrencies, even by the sector's freewheeling standards.
Bitcoin's near 60% jump may look paltry compared to last year's 300% rise, but that has come despite a Chinese crackdown in May which saw it nearly halve in price.
Dogecoin, a digital token launched in 2013 as a joke bitcoin spin-off, soared over 12,000% from the start of the year to an all-time high in May - before slumping about 80% by mid-December.
Non-fungible tokens (NFTs) - strings of code stored on the blockchain that represent unique ownership of digital art, videos or even tweets - have also exploded in the mainstream. A digital collage by U.S. artist Beeple sold for nearly $70 million at Christie's in May, making it one of the top three most expensive pieces by a living artist ever sold at auction. (Graphic: Peaks and troughs: Bitcoin's 2021 rollercoaster, https://graphics.reuters.com/FINANCE-YEARENDER/zjpqkyzaepx/chart_eikon.jpg)
10/GREEN DREAM
The dream to go green has remained front and centre this year. Green bond issuance is set for yet another record year, at nearly half a trillion dollars. The "ESG" version of MSCI's flagship world stocks index is up more than 2 percentage points than the standard version while China's most environmentally friendly stocks index has surged more than 45% even as other sectors there have crumpled.
(Additional reporting by Yoruk Bahceli in Amsterdam, Noel Randewich in San Francisco and Tom Wilson and Elizabeth Howcroft in London; Editing by Dan Grebler) || Crypto market collapse derails Melania’s hat auction: A Cryptocurrency collapse has played havoc with Melania Trump ’s recent online auction, where the former first lady has been attempting to auction off an iconic hat of hers. The hat in question was worn in 2018 when French President Emmanuel Macron visited the White House. However, the online auction in which it was due to be sold – as part of a package alongside an NFT and a watercolor – was massively impacted by one digital blockchain currency plummeting in value. The three-piece package titled the ‘Head of State Collection, 2022’ was expected to open with a minimum bid of around the $250,000 mark, according to a news release directly from Ms Trump. Bids for the white, broad-brimmed hat were only going to be accepted via the cryptocurrency Solana, also known as SOL, which had been trading at $170 per token earlier this month. What followed in the second half of January was a crypto crash, with SOL being one of the worst affected currencies. Early on Wednesday morning, its value had sunk to as low as $95, severely denting Ms Trump’s ability to get a worthwhile bid for the hat. “The one-of-a-kind NFT will be minted on Solana’s blockchain,” the website promoting the sale announced before it got underway. According to The New York Times , only five bids appear to have been made since the auction started, with each of them hovering around the 1,800 Solana token mark. The paper adds that, as of early Wednesday morning, the final listed bid was worth around $170,000. Solana certainly isn't the only cryptocurrency to have lost almost half of its value in the space of a week. The value of Bitcoin dropped to as low as $35,000 over the weekend, after previously topping out at $67,500 last November. Melania Trump is auctioning the white hat she wore when she met French President, Emmanuel Macron. (Getty Images) Ethereum has been similarly affected by the so-called ‘ Crypto winter ’, after dropping below the $2000 mark for the first time since June 2021. “This is just evidence that none of the cryptocurrency assets provide a good, stable enough means of payment,” said Dan Awrey, a Cornell University law professor who studies money and payment systems. “It is just too volatile.” Ms Trump has claimed that “a portion” of the proceeds will be used to help provide children in foster care with access to educational programs focused on computer science and technology. Nevertheless, she is yet to state how much of the proceeds she will keep herself.
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 42412.43, 43840.29, 44118.45, 44338.80, 43565.11, 42407.94, 42244.47, 42197.52, 42586.92, 44575.20
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2020-11-19]
BTC Price: 17817.09, BTC RSI: 80.79
Gold Price: 1861.10, Gold RSI: 43.13
Oil Price: 41.74, Oil RSI: 57.64
[Random Sample of News (last 60 days)]
ASICLine releases 5nm ASIC Miners: PowerBox ASIC Miner ASIC Miner ST. PAUL, Minn., Oct. 21, 2020 (GLOBE NEWSWIRE) -- ASICLine Inc. is pleased to announce the official release of its new 5nm ASIC miners FirstLine and PowerBox. Both these multi-algorithm miners have been designed with the goal of ensuring lightning fast hash rate, maximum energy efficiency, and fastest return on investment for all crypto mining enthusiasts regardless of their experience. Both the products are now up for sale via the company’s website www.asicline.com and can be shipped worldwide in just 7 days. ASIC mining is the latest buzzword in the world of crypto mining with a significantly higher speed and efficiency compared to the conventional GPU mining. To guarantee profitability for its customers, ASICLine has come up with two miners offering unrivalled hash rates and exceptionally low power consumption. FirstLine: Bitcoin 410 TH/s, Litecoin 60 GH/s, Ethereum 8 GH/s, and Monero 3 MH/s, and 650 W power consumption. PowerBox: Bitcoin 1250 TH/s, Litecoin 180 GH/s, Ethereum 24 GH/s, and Monero 9 MH/s, and 1800 W power consumption. ASICLine miners can be used easily by anyone without any difficulty. Users just need to connect the unit to a power socket and access it through WiFi or cable, enter the pool data or choose ASICLine’s free mining pool and start mining. All these miners are delivered pre-configured with Linux based system equipped with ASICLine software, offering an easy to use interface. “We have been working relentlessly to bring the benefits of the latest ASIC technology to common people for a price that is within their reach. If you are looking make a decent profit out of crypto mining, your search ends right here at ASICLine,” said ASICLine CEO Martin Muller. To find out more, please visit https://asicline.com/ About ASICLine: ASICLine was founded by a team comprising of multiple investors dedicated to bringing the latest ASIC technology miners to the market before the so-called technology giants use them for a long time for their own profit and dump them on the market when they are no longer profitable. Whenever a new generation of ASIC is available, ASICLine is committed to bringing it to the public for a price they can afford. The company is now offering an advanced range of ASIC miners with guaranteed profitability. Story continues A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/df9ced69-abac-4c3d-a6fc-a5da262a1c92 CONTACT: Nicolas Smit [email protected] +1 (206) 965-8243 || Bitcoin hits 2020 high as PayPal allows cryptocurrencies on platform: US account holders will be able to deal in digital coins, including Bitcoin, Ethereum, Bitcoin Cash and Litcoin in the coming weeks. Photo: Dado Ruvic/Reuters Paypal has joined the world of cryptocurrency, sending the value of Bitcoin ( BTC-USD ) more than 6% higher to $12,700 (£9,663) its highest level of the year. The California-based payments platform said the launch of its new service would allow customers to buy, hold and sell cryptocurrency directly from their PayPal account. US account holders will be able to deal in digital coins, including Bitcoin, Ethereum, Bitcoin Cash and Litecoin in the coming weeks. PayPal also plans to expand its mobile payment service Venmo in the first half of 2021. Customers will be able to use their cryptocurrency holdings to pay for goods and services at PayPals 26 million merchants worldwide from early next year. However, merchants will not receive virtual coin payments, with cryptocurrency payments being settled using fiat currencies, such as the US dollar, the company said. PayPal has partnered with Paxos, a New York chartered trust company, to provide cryptocurrency trading and custodial services. President and chief executive Dan Schulman told Reuters in an interview: PayPal hopes the service will encourage global use of virtual coins and prepare its network for new digital currencies that may be developed by central banks and corporations. We are working with central banks and thinking of all forms of digital currencies and how PayPal can play a role. READ MORE: Paypal to charge customers for inactive accounts Neil Wilson of Markets.com said: It is hard to know for sure right now what it means, but because of PayPals sheer scale and reach I would think the development may be a potential game-changer in the mass use of cryptos, though of course there are many other barriers to its widespread consumer and business adoption. The news rekindled bullish spirits in the crypto space. Bloomberg reported that its Galaxy Crypto Index rose as much as 5.1% on the back of the news. The index tracks some of the biggest virtual coins. PayPal has 346 million active accounts around the world and processed $222bn (£171bn) in payments in the second quarter of the year. Watch: What are negative interest rates? || First Mover: As Bitcoin Tops $13K, Analyst Explains How Blockchain Gives Clues on Next Move: Bitcoinwas higher, just above $13,000 and rising for a seventh straight day – the longest winning streak in six months.
“A continuation would probably require more positive news,” Matt Blom, head of sales and trading for the publicly traded cryptocurrency firm Diginex, wrote Thursday in a note to clients.
Intraditional markets, European indexes rose on positive corporate earnings and strong German manufacturing data, and U.S. stock futures pointed to a higher open. Gold strengthened to $1,911 an ounce.
Related:Bitcoin's Rivalry With Gold Plus Millennial Interest Gives It 'Considerable' Upside Potential: JPMorgan
A hallmark of the blockchain analysis is that there’s all sorts of data on the distributed computing networks available publicly to anyone with a browser.
So for crypto traders, why not use the data to get an edge?
CoinDesk’s Omkar Godbole talked to Philip Gradwell, chief economist at blockchain intelligence firm Chainalysis, about the data points he thinks are most important for crypto traders.
Below is a condensed list, though Godbole’sfull articleincludes a link to a video of the original interview.
Related:Bitcoin in Retirement Accounts with Adam Pokornicky and Adam Blumberg
1)Exchange inflows.A surge in a rising market might indicate looming selling pressure, a sign of feeble investor confidence.
2)Trade intensity.The metric, which measures the number of times an inflowing coin is traded, “tells us how many people are willing to buy bitcoins sent to exchanges,” according to Gradwell. So an uptick is a sign of trend strength.
3)Interexchange flows.Net flow from crypto-to-fiat exchanges to crypto-to-crypto exchanges suggests the market is dominated by stablecoin traders. In this scenario, a rise in the stablecoin’s issuance could be considered a leading indicator of an impending price rally.
4)Liquidity.A sustained rise in the number of illiquid entities – defined as those that send less than 25% of the assets it receives – is a sign of a strong long-term holding sentiment, and thus a bullish indicator.
5)Value transfers across blockchains.The metric represents usage of the blockchain and is typically accompanied by a rise in the transaction count. “When there’s greater usage of a cryptocurrency there’s more demand, and that drives the price up,” Gradwell said.
– Omkar Godbole
Read More:Five On-Chain Indicators Investors Should Follow
Bitcoin is eyeing its biggest weekly gain in six months.
The cryptocurrency is currently trading near $13,000, representing a 13% appreciation on a week-to-date basis, the most since April.
The Chicago Mercantile Exchange’s share of bitcoin’s futures market has increased alongside the price rally.
As of Thursday, bitcoin futures contracts worth $790 million were open on the CME, according to data source Skew. That’s 15.8% of the global open interest tally of $5 billion – the second highest contribution among major exchanges.
The exchange’s contribution to global open positions has jumped from 10% to 15.8% this month alone, indicating increased institutional participation.
From a technical analysis perspective, the focus is on the weekly close (Sunday, 23:59 UTC). If the cryptocurrency finishes above $12,476 (August high), a bullish breakout would be confirmed on the weekly chart.
That looks likely, as demand for the cryptocurrencyis strong. A breakout would strengthen the case for a rally to $14,000 before the year-end.
– Omkar Godbole
Read More:CME’s Rise in Bitcoin Futures Rankings Signals Growing Institutional Interest
Bitcoin (BTC):Hedge fund billionaire Paul Tudor Jones II tells CNBC that bitcoin rally isonly in “first inning.”
Tether (USDT):Chinese authoritiescrack down on gambling sitesusing dollar-linked stablecoin.
Ripple (XRP):CEO Brad Garlinghouse says blockchain payments company might move to London amid lingering uncertainty over XRP token’s legal and regulatory classification.
PayPal (ticker: PYPL) is exploring purchases of cryptocurrency companies including bitcoin custodian BitGo (CoinDesk)
BitMEX, under scrutiny from U.S. officials, proceeds to list new futures contract on Yearn.Finance’s YFI token, says contracts for polkadot (DOT) and Binance coin (BNB) are on the way. (CoinDesk)
Bitstamp, European cryptocurrency exchange, names Gemini alum Julian Sawyer as CEO (CoinDesk)
Spanish national police arrest operator of cryptocurrency arbitrage firm that some investors alleged to be a Ponzi scheme (CoinDesk)
PayPal’s push into digital currencies could benefit mass crypto adoption, Morgan Stanley says (CoinDesk)
Turkish lira weakens toward eight per dollar after central bank declines to raise interest rates to tamp down inflation expectations (FT)
Goldman Sachs agrees to pay $2.9 billion to resolve probes into 1MDB debacle involving Malaysian financier (CNBC)
The number of employees globally that permanently work from home is set to double by 2021 (Reuters)
The U.S. Consumer Financial Protection Bureau is seeking to change rules governing the access and use of consumer financial data (Reuters)
Singapore and Germany are setting up a “green lane” enabling travel for business or official reasons amid coronavirus restrictions (Bloomberg)
• First Mover: As Bitcoin Tops $13K, Analyst Explains How Blockchain Gives Clues on Next Move
• First Mover: As Bitcoin Tops $13K, Analyst Explains How Blockchain Gives Clues on Next Move || PayPal will soon let you buy and sell cryptocurrencies like Bitcoin: PayPal will soon begin offering support for cryptocurrenciesby allowing its US-based customers to buy, sell and hold virtual coins using its online wallets.
Starting early next year, customers would also be able to use cryptocurrencies to shop at the company's 26 million merchants, as Paypal looks to capitalise on the renewed interest in digital coins.
The New York State Department of Financial Services said on Wednesday that it had given PayPal a conditional “Bitlicense" to offer its crytocurrency services.
Four cryptocurrencies - bitcoin, bitcoin cash, ether and litecoin - will initially be available through the new Paypal service, to be delivered in partnership with fintech start-up Paxos.
The company said it plans to expand the service to Venmo and other countries in early 2021.
Bitcoin gained as much as 4pc to $12,381 (£9,430) Wednesday following the news, just below the high of $12,473 set in August.
“We are proud to become the first company to receive a conditional virtual currency license from the New York State Department of Financial Services,” saidDan Schulman, Paypal's president and CEO, in a statement.
In an interview with Reuters, Schulman added the new service was designed to prepare Paypal - which has 346 million active accounts - for the wide variety of digital currencies that are being developed by central banks as well as corporations.
“We are working with central banks and thinking of all forms of digital currencies and how PayPal can play a role,” he said.
Central bank digital currencies, also known as CBDCs, are currently being piloted by seven countries including China and Sweden, according to Harvard University's Belfer Center.
Facebook has also floated the idea of launching its owndigital "Libra" currency, a project which Paypal initially backed before the companywithdrewits support after just four months.
For cryptocurrency advocates, Paypal's endorsement is big news.
"We have crossed the rubicon people," tweeted Mike Novogratz, CEO of cryptocurrency investment firm Galaxy Investment Partners.
Carsten Sørensen, digital currency expert at London School of Economics said: "The announcement that PayPal will support cryptocurrencies is a significant development in the slow and ongoing mainstreaming of cryptocurrencies." || ALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BCH: NEW YORK, NY / ACCESSWIRE / September 24, 2020 /ALT 5 Sigma Inc. an emerging leader in blockchain powered financial platforms provides its daily digital instruments market summary for Bitcoin (BTC/USD), Ether (ETH/USD), Litecoin (LTC/USD).
Real-Time Market Data is available atwww.alt5pro.comand Real-Time Market Data feed is also available atwww.alt5sigma.comALT 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.
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SOURCE:ALT 5 Sigma Inc.
View source version on accesswire.com:https://www.accesswire.com/607753/ALT-5-Sigma-Digital-Instrument-Market-Summary-for-BTC-ETH-LTC-BCH || Asia-Pacific Shares Finish Lower, but Outperform Stateside Markets: The major Asia-Pacific stock indexes were lower across the board on Thursday with China bucking the trend to move modestly higher. The weakness in the East wasn’t nearly as bad as the routs in the United States and Europe the previous sessions, as Asia’s brighter economic outlook offset investor worries about fresh COVID-19 lockdowns in Europe.
In the cash market on Thursday,Japan’s Nikkei 225 Indexsettled at 23331.94, down 86.57 or -0.37%. Hong Kong’s Hang Seng Index finished at 24550.17, down 158.63 or -0.64% and South Korea’s KOSPI Index closed at 2326.67, down 18.59 or -0.79%.
The Bank of Japan on Thursday trimmed its economic and price forecasts for the current fiscal year ending in March 2021, heightening expectations it will maintain its massive stimulus for a time being to cushion the blow from COVID-19.
As widely expected, the central bank kept monetary policy steady, including a -0.1% target for short-term interest rates and a pledge to guide long-term rates around 0%.
It also made no changes to a package of measures to ease corporate funding strains caused by the coronavirus pandemic.
BOJ Governor Haruhiko Kuroda is expected to hold a news conference to explain the policy decision and the new forecasts, which were produced as part of the BOJ’s quarterly report on the economic and price outlook.
Shares in South Korea were among the biggest losers regionally, as the KOSPI Index fell as much as 1.69% before settling 0.79% lower. Shares of industry heavyweight Samsung Electronics declined around 2% after the firm on Thursday predicted a fourth-quarter decline in profits.
Samsung Electronics on Thursday said it expects a decline in profit in the three months that will end on December 31 due to weak memory chip demand and intense competition in the smartphone and consumer electronics spaces.
Samsung announced a 59% year-on-year jump in operating profit to 12.35 trillion Korean won (about $10.89 billion) for the July-September quarter, which was in line with earlier guidance.
“Looking ahead, Samsung Electronics expects profit to decline in the fourth quarter amid weakening memory chip demand from server customers and intensifying competition in mobile phones and consumer electronics,” the company said in a statement.
Shares of Sony surged in Tokyo on Thursday, a day after the Japanese electronics giant raised its annual profit forecast.
Sony shares in Japan were up 6.69% on Thursday even though Japan’s border index, the Nikkei 225, fell 0.37% on the day.,
On Wednesday, Sony raised its forecast for its annual operating income by 13% to 700 billion yen (approximately $6.7 billion). It came as the firm announced an operating profit of about 317.8 billion yen (around $3.04 billion) for the three months ended September 30.
For a look at all of today’s economic events, check out oureconomic calendar.
Thisarticlewas originally posted on FX Empire
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A significant number of buy orders were filled around this support level. The spike in demand helped propel prices to $11,736, representing a 13.24% upswing within ten days. Some market participants appear to have taken advantage of the rising price action to realize profits, which caused prices to retreat 4.56%.
By October 16th,Bitcoinwas back around $11,200, providing an opportunity for sidelined investors to get back into the market. Those who actually were able to buy around this price level saw their investments move into the green quickly as the bellwether cryptocurrency did nothing but rise throughout the rest of the month. Not only was BTC able to break out of the channel where it was contained, but surpassed the target presented by this pattern.
Indeed, bouncing off the $11,200 support level allowed Bitcoin to surge by nearly 26% and make a new yearly high of $14,100 on October 31st. Given the significance of this milestone, BTC retraced by 2% to close the month at $13,805. Investors were able to obtain a monthly return of 28%.
WhileBitcointook the spotlight of the cryptocurrency market during October, Ethereum built the foundation for a major price movement. The smart contracts giant spent the month forming an ascending triangle within its 1-day chart. This market behavior suggested that ETH was going to catch up with the pioneer cryptocurrency later on.
As the monthly trading session began, Ether took a 7.64% nosedive towards the triangle’s hypotenuse. Prices went from opening at a high of $370 to hit a low of $322 on October 7th. However, this support level was able to keep falling prices at bay and acted as a rebound zone.
What came next was a 19% rally that saw Ethereum rise towards the triangle’s x-axis at $395.5. Such a considerable resistance barrier was able to hold and reject the upward pressure. Thus, ETH was forced to pull back nearly 9% to a low of $360.5.
Regardless of the rejection, the bulls did not loosen the grip on Ethereum’s price action. As buying pressure continued accelerating, the second-largest cryptocurrency by market capitalization jumped to a monthly high of $422, suggesting that it was breaking out of the ascending triangle. Nonetheless, prices retraced back inside this technical pattern indicating that it was all part of a fake out.
Ethereum was able to close the October at $386.3, providing investors a monthly return of 7.40%.
The impressive price action Bitcoin and Ethereum enjoyed throughout October seems to have set up the base for what could be a new bull run in the cryptocurrency market. These cryptocurrencies face little to no resistance ahead from an on-chain metrics perspective. Therefore, there seems to be a lot of room to go up.
If the buying pressure seen in October spills over November, Bitcoin would likely take aim at the $16,500 threshold. Moving past this psychological resistance barrier may ignite FOMO among market participants sening prices to $20,000 or higher. For Ether, a similar price action can be expected. As speculation mounts around ETH 2.0, prices will likely surge towards $500 or $800.
Konstantin Anissimov, Executive Director at CEX.IO
Thisarticlewas originally posted on FX Empire
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• The Crypto Daily – Movers and Shakers – November 8th, 2020 || Mexican Billionaire Reveals 10% of His Liquid Assets Are in Bitcoin: Mexican billionaire Ricardo Salinas Pliego just declared 10% of his portfolio is now tied up in bitcoin.
Announced ina tweeton Wednesday, the founder of Grupo Salinas, responded to questions that “many people” ask him aboutbitcoin, saying: “YES. I have 10% of my liquid portfolio invested.”
“Bitcoin protects the citizen from government expropriation,” Salinas Pliego added as he recommended “El Patron Bitcoin” – a book that is “the best and most important to understand #Bitcoin.”
Related:Bitcoin’s Rally Could Be Caused by a Supply Crunch in China
The other 90% of his investments are tied up “in precious metals miners,” the billionaire explained ina replyto Dan Held, the Kraken crypto exchange’s growth lead.
Latin American countries, namely Venezuela, have been plagued by hyperinflation in recent years, leading to a situation reminiscent of Germany’s 1920’s hyperinflation in the Weimar Republic.
See also:‘Bitcoin Rich List’ Reaches All-Time High
Investors looking to protect themselves from “government expropriation” and inflation have historically turned to alternative assets like gold to hedge against fiat currency devaluation. Now bitcoin looks to be increasingly finding a place as a digital alternative.
Related:The Dark Future Where Payments Are Politicized and Bitcoin Wins
Hours before posting his bitcoin tweet, the Mexican billionaire had postedanother tweetdecrying government-issued fiat as being “worth nothing” and noting that it is always “good to diversify” ones investments.
Salinas Pliego is the founder and chairman of Grupo Salinas, a collection of companies with stakes in telecommunications, media, financial services, and retail stores, per Wikipedia.
• Mexican Billionaire Reveals 10% of His Liquid Assets Are in Bitcoin
• Mexican Billionaire Reveals 10% of His Liquid Assets Are in Bitcoin || Blockchain Bites: Square’s $50M BTC Investment, MetaMask’s 1M Users, BitMEX’s New CEO: CoinDesk is preparing for theinvest: ethereum economyvirtual event on Oct. 14 with a special series of newsletters focused on Ethereum’s past, present and future. Every day until the event the team behind Blockchain Bites will dive into an aspect of Ethereum that excites or confuses us.TheTop Shelfnews you subscribed to is down below.Now, a few words from CoinDesk markets reporter Daniel Cawrey.Increased usageOne of the best metrics of increased usage in the Ethereum economy comes via wallet adoption, the entry point for anyone wanting to interact with decentralized finance, or DeFi.Wallets are a key part of the discussion around DeFi adoption and a focus of the CoinDeskinvest: ethereum economypanel “Unlocked: TVL and Beyond – Measuring the DeFi Economy” on Oct. 14. Total value locked, or TVL, may measure the top-line numbers, but wallets are where investors park their crypto.The MetaMask wallet, a browser extension that allows users to interact with the Ethereum network and its multitude of smart contract-based DeFi applications, has surpassed 1 million users. That’s a fourfold increase for the wallet since 2019, which is developed and maintained by New York-based software firm ConsenSys.
Chasing juicy returns in the DeFi space, which can sometimes provide double- or triple-digit returns for lending crypto, is one of the reasons for MetaMask’s growth, said John Willock, CEO of Tritium Digital Assets, a crypto liquidity provider. “I think we can all recognize that a lot of the adoption of MetaMask is through the recent DeFi craze and interest in short-term returns that has been perceived to be out there to chase,” he said.However, that speculation is bringing real adoption, Willock added, as he compared MetaMask to a web browser, which is the piece of software that has on-boarded almost everyone to the internet.“I look at the MetaMask numbers as the same sort of early adoption indicator the uptake of Netscape browser use was in the 1990s. It is exciting,” he said.What’s even more interesting: Developing countries lead in MetaMask adoption. India, Nigeria and the Philippines are the countries with most MetaMask usage after the United States.“Metamask passing 1 million users is an impressive feat. It’s by far the most used browser wallet and gives the community a best-in-class balance between security, functionality and usability,” said Brian Mosoff, chief executive of investment firm Ether Capital.“I expect MetaMask will continue to dominate as DeFi and other Ethereum applications flourish over the coming months and years,” Mosoff added.It’s simple: More wallet users means more adoption of the Ethereum economy. Although MetaMask requires some knowledge of mnemonic seed storage by users, it’s actually a pretty delightful wallet for an increasingly growing DeFi ecosystem.
– Daniel Cawrey
Related:First Mover: Bitcoin 'Comatose' Under $16K for Rest of 2020, While Ether Traffic Eases
Stablecoins, Hyper-Collateralization and the DeFi EconomyThe rise of fiat- and algorithm-backed stablecoins has largely put crypto’s volatility narrative to rest. Now, they have become the bridge into the DeFi economy as well as an engine of hyper-collateralization and “money games.” How will these tools evolve as DeFi matures? What risks do these systems create, and how can they be managed as the stakes get higher?
Circle CEO Jeremy Allaire, Aave CEO Stani Kulechov and cryptorati Maya Zehavi will go live at 4:30-5:00 p.m. ET on Oct. 14 as part ofinvest: ethereum economy.
Weird DeFiEthereum’s highly anticipated 2.0 upgrade is poised to bring the network ever closer to fulfilling its original vision to be a “world computer” that plays host to a parallel, decentralized financial system.
Atinvest: ethereum economyonOct. 14, we will address the ramifications for investors as decentralized finance takes the crypto world by storm.
Related:Blockchain Bites: Crypto's Top Universities, Bitcoin's New Addresses, MetaMask's Token Swaps
In a run-up to the event, our two-partCoinDesk Live: Inside the Ethereum Economyvirtual miniseries onOct. 8 and Oct. 12introduces trending narratives we will break down at the main event: Why all the hype behind yield farming and food-inspired tokens? Should investors take them seriously or are they a fading trend?
On Oct. 8, CoinDesk senior business reporter Brady Dale hosts Priyanka Desai of Open Law, Mason Nystrom of Messari and Sam Bankman-Fried of FTX to assess the newest crazes sweeping the DeFi landscape.
Watch DeGeneration: How Ethereum Is Making Finance Weirdon Oct. 8.
Just as MetaMask has become an important on-ramp to the Ethereum economy, so, too, are the narratives that capture people’s attention.
This past year has seen the rise of new memetic trading strategies – ways to both interact with and discuss Ethereum applications – that have set the pace for development.
Yield farming, “the rocket fuel of DeFi,” is one such strategy. A silly name, but an important concept. CoinDesk’s Brady Daleexplained in July how it all works.
Minding fieldsThe hot new term in crypto is “yield farming,” a shorthand for clever strategies where putting crypto temporarily at the disposal of some startup’s application earns its owner more cryptocurrency.
Another term floating about is “liquidity mining.” The buzz around these concepts has evolved into a low rumble as more and more people get interested.
The casual crypto observer who only pops into the market when activity heats up might be starting to get faint vibes that something is happening right now. Take our word for it: Yield farming is the source of those vibes.
Broadly, yield farming is any effort to put crypto assets to work and generate the most returns possible on those assets.
At the simplest level, a yield farmer might move assets around within Ethereum-based credit market Compound, constantly chasing whichever pool is offering the best APY from week to week. This might mean moving into riskier pools from time to time, but a yield farmer can handle risk.
“Farming opens up new price arbs [arbitrage] that can spill over to other protocols whose tokens are in the pool,” said Maya Zehavi, a blockchain consultant.
Because these positions are tokenized, though, they can go further.
In a simple example, a yield farmer might put 100,000USDTinto Compound. They will get a token back for that stake, called cUSDT. Let’s say they get 100,000 cUSDT back (the formula on Compound is crazy so it’s not 1:1 like that but it doesn’t matter for our purposes here).
They can then take that cUSDT and put it into a liquidity pool that takes cUSDT on Balancer, an AMM that allows users to set up self-rebalancing crypto index funds. In normal times, this could earn a small amount more in transaction fees. This is the basic idea of yield farming. The user looks for edge cases in the system to eke out as much yield as they can across as many products as it will work on.
Right now, however, things are not normal, and they probably won’t be for a while because liquidity mining supercharges yield farming.
Liquidity mining is when a yield farmer gets a new token as well as the usual return (that’s the “mining” part) in exchange for the farmer’s liquidity.
“The idea is that stimulating usage of the platform increases the value of the token, thereby creating a positive usage loop to attract users,” said Richard Ma of smart-contract auditor Quantstamp.
The yield farming examples above are only farming yield off the normal operations of different platforms. Supply liquidity to Compound or Uniswap and get a little cut of the business that runs over the protocols – very vanilla.
But Compound announced earlier this year it wanted to truly decentralize the product and it wanted to give a good amount of ownership to the people who made it popular by using it. That ownership would take the form of the COMP token.
By giving away a healthy proportion to users, that was very likely to make it a much more popular place for lending. In turn, that would make everyone’s stake worth much more.
So, Compound announced this four-year period where the protocol would give out COMP tokens to users, a fixed amount every day until it was gone. These COMP tokens control the protocol, just as shareholders ultimately control publicly traded companies.
Every day, the Compound protocol looks at everyone who had lent money to the application and who had borrowed from it and gives them COMP proportional to their share of the day’s total business.
COMP turned out to be a bit of a surprise to the DeFi world, in technical ways and others. It has inspired a wave of new thinking.
“Other projects are working on similar things,” said Nexus Mutual founder Hugh Karp. In fact, informed sources tell CoinDesk brand-new projects will launch with these models.
We might soon see more prosaic yield farming applications. For example, forms of profit-sharing that reward certain kinds of behavior.
As this sector gets more robust, its architects will come up with ever more robust ways to optimize liquidity incentives in increasingly refined ways. We could see token holders greenlighting more ways for investors to profit from DeFi niches.
– Brady Dale
This year, decentralized finance emerged as Ethereum’s best bet at finding mainstream attraction. While still a fraction of the activity on Ethereum, and an even smaller portion of crypto generally, DeFi has captured the public’s attention.
TheFinancial Times, for instance, wrote a user’s guide to DeFi. But a few questions were left unanswered. CoinDesk contributor Alyssa Hertig responds to a fewfrequently asked questions,trying to filter the signal from the noise.
How do I make money with DeFi?The value locked up in Ethereum DeFi projects has been exploding, with many users reportedly making a lot of money.
Using Ethereum-based lending apps, as mentioned above, users can generate “passive income” by loaning out their money and generating interest from the loans. Yield farming, described above, has the potential for even larger returns, but with larger risk. It allows for users to leverage the lending aspect of DeFi to put their crypto assets to work generating the best possible returns. However, these systems tend to be complex and often lack transparency.
Is investing in DeFi safe?No, it’s risky. Many believe DeFi is the future of finance and that investing in the disruptive technology early could lead to massive gains.
But it’s difficult for newcomers to separate the good projects from the bad. And, there has been plenty of bad.
As DeFi has increased in activity and popularity through 2020, many DeFi applications, such as meme coin YAM, have crashed and burned, sending the market capitalization from $60 million to $0 in 35 minutes. Other DeFi projects, including Hotdog and Pizza, faced the same fate, and many investors lost a lot of money.
In addition, DeFi bugs are unfortunately still very common. Smart contracts are powerful, but they can’t be changed once the rules are baked into the protocol, which often makes bugs permanent and thus increasing risk.
When will DeFi go mainstream?While more and more people are being drawn to these DeFi applications, it’s hard to say where they’ll go. Much of that depends on who finds them useful and why. Many believe various DeFi projects have the potential to become the next Robinhood, drawing in hordes of new users by making financial applications more inclusive and open to those who don’t traditionally have access to such platforms.
This financial technology is new, experimental and isn’t without problems, especially with regard to security or scalability.
Developers hope to eventually rectify these problems. Ethereum 2.0 could tackle scalability concerns through a concept known as sharding, a way of splitting the underlying database into smaller pieces that are more manageable for individual users to run.
How will Ethereum 2.0 impact DeFi?Ethereum 2.0 isn’t a panacea for all of DeFi’s issues, but it’s a start. Other protocols such as Raiden and TrueBit are also in the works to further tackle Ethereum’s scalability issues.
If and when these solutions fall into place, Ethereum’s DeFi experiments will have an even better chance of becoming real products, potentially even going mainstream.
– Alyssa Hertig
Despite the buzz surrounding DeFi, the risks are clear. Donna Redel, adjunct professor of law at Fordham Law School, and Olta Andoni, of counsel at Zlatkin Wong, aretwo lawyers who have soured on the field(so to say): Regulators are circling, they said in an op-ed published in August.
DeFi’s demise?A corner of the crypto universe representing less than 1% of total market capitalization of crypto assets has been grabbing the headlines since June. This is the world of decentralized finance, or DeFi, which alternatively is referred to as the center of innovation, an experiment or the new wild, wild west where projects move fast and break things.
A recent glance of articles on CoinDesk demonstrates the phenomenon. Once again, crypto headlines are focusing on the “craze,” the “frenzy of yield farming,” “investors pouring money into” and “another protocol going up in a fireball.”
Will the nonstop headlines and framing around the “hot” new DeFi protocols chill the institutional adoption that is beginning in earnest for crypto, digital assets and blockchain technology?
We believe that, at a minimum, the industry needs self-regulation. Without it, it is on a trajectory to serious regulatory scrutiny and reputational risk.
As with almost everything in crypto, the strong sentiments and opinions make it difficult to determine the true essence and reality around the majority of DeFi projects. For us, this refrain is reminiscent of 2017’s frothy initial coin offering (ICO) days that ended badly for the good names of blockchain and crypto.
There are certainly similarities: trading frenzy; projects emerging with little or no testing and without audit; no clear regulatory guidance and the recycling ofETHnow leading to inflated gas prices. Are we on the precipice of one of the regulatory agencies waking up and sending a missive similar to The Dao Report?
On the legal front, there is a lack of clear consensus about which agency should be regulating. And, again, there is a lack of guidance from multiple agencies that could be responsible for DeFi projects or for the space generally.
We are alarmed and concerned with the apparent lack of 360-degree understanding of the potential role of the various actors or operators and their possible interactions with the projects, the governance and hence DeFi ecosystem. Tokens are appearing overnight. Projects are hesitant to use, or totally avoid, terminology that might infer “issue,” “issuance” or “issuer,” as these are hypersensitive words in the securities world.
Calling a project an “experimental game” or an “innovation” is not sufficient to take it out of the regulatory ambit. The focus is shifting from securities regulation of “the issuer” and the Howey Test prevalent during the ICO days and after, to more complex analysis of the application of commodities regulation, questions relating to who is the “controlling stakeholder(s)” and whether liability or responsibility falls on them.
Many questions, from a perspective of both securities law and commodities laws, should be examined anew to see how they may be applied to, as well as reimagined for, a disintermediated-decentralized financial model.
The outstanding questions include whether the “controlling stakeholders” are determined by voting control on DeFi platforms, who among the investor group and founders who has voting control, and whether there should be standards for exchange listing.
Furthermore, it remains to be seen whether defining these projects as “decentralized” puts them outside of the regulatory reach or whether the “centralized” ones should be referred to as “disintermediated finance” – aka the ability to conduct secure financial transactions directly, without the use of financial intermediaries.
Despite the regulatory uncertainty, traders, projects and exchanges are going full steam ahead, with the result that tokens run high risks of unwarranted price changes, which impacts governance, liquidity and the well-being of the projects.
In our view, the DeFi experiment demonstrates the need for creating a new set of industry rules: audits, proper risk disclosures and planning to anticipate what could go wrong before it actually happens. DeFi self-regulation should normalize collateral sufficiency reviews, auditing standards, governance both on an ongoing and crisis basis as well as the distribution-centralized ownership of tokens.
It remains to be seen how a regulatory loophole in which these tokens are created, distributed and traded all without regulatory supervision will play out. At least with a modified Safe Harbor, proposed by Commissioner Hester Peirce, and which we commented on earlier this year, the SEC would have some oversight. For the moment, tokens in the DeFi are appearing daily and the explosion of tokens is leading to a distortion of purpose and “investors” are getting burned as projects implode.
– Donna Redel & Olta Andoni
Square <3s BTCSquare, the payments company helmed by Twitter CEO Jack Dorsey, announced Thursday it has purchased 4,709bitcoins, a$50 million investment representing 1% of the firm’s total assets.“Square believes that cryptocurrency is an instrument of economic empowerment and provides a way for the world to participate in a global monetary system, which aligns with the company’s purpose,” the company said in a statement. “We believe that bitcoin has the potential to be a more ubiquitous currency in the future,” said Square CFO Amrita Ahuja. “For a company that is building products based on a more inclusive future, this investment is a step on that journey.”
Options portendActivity in bitcoin options listed on the Chicago Mercantile Exchange (CME)surged Wednesday as investors traded call options.According to data source Skew, the CME traded $48 million worth of options during the day, the highest daily volume figure since Jul. 28. The number marks a 300% rise from Tuesday’s figure of $12 million. “The CME options had a strong session, and the spike in the volume was mainly due to increased activity in call options,” Skew CEO Emmanuel Goh told CoinDesk over Telegram. The data suggests some traders foresee a bitcoin rally, but believe the upside will be capped near $16,000 until the end of December. Further, they expect prices to remain below $20,000 till the end of the first quarter of 2021.
Hayes steps downThe founders of BitMEX arestepping down from their executive rolesat the parent firm of the crypto derivatives exchange soon after U.S. authorities charged the firm over allegedly illegal conduct. In a blog post Thursday, 100x – the holding group for BitMEX operator HDR Holdings – announced that founders Arthur Hayes and Samuel Reed have “stepped back from all executive management responsibilities for their respective CEO and CTO roles with immediate effect.” Vivien Khoo, current chief operating officer of 100x Group, will become Interim CEO, while Ben Radclyffe, commercial director, will take on a supporting role with greater management of client relationships and oversight of financial products.
Enter GoogleGoogle Cloud ismaking moves to become an EOS validator,but not for the tokens. “Google Cloud is not getting into crypto mining. This is really an infrastructure play for us,” Google Cloud Developer Advocate Allen Day told CoinDesk’s Brady Dale. On Tuesday, Block.one, the company that runs theEOSblockchain, announced Google Cloud is mulling becoming one of the network’s 21 block producers. Day said the company is committed to supporting public blockchain infrastructure, as seen by previously forged relationships with Hedera Hashgraph and Theta Labs, a video content relayer.
FATF standardsThe Travel Rule Protocol (TRP), a working group favored by banks and traditional financial institutions and focused on bringing crypto in line with global anti-money laundering (AML) standards,has released the first version of its API.The 25-member TRP working group, which includes Standard Chartered, ING Bank and Fidelity Digital Assets, said the product aims to offer a straightforward way for firms to swap identification data. This includes data of originators and beneficiaries of crypto transactions, as per the requirements of global AML watchdog the Financial Action Task Force (FATF).
• KPMG Airs Blockchain Solution to Help Corporates Offset Carbon Emissions(Sebastian Sinclair/CoinDesk)
• Riot Buys 2,500 More Bitmain Miners in Latest Fleet Expansion(Danny Nelson/CoinDesk)
• Bitcoin Correlations Depend on What Phase It Is In(Lyn Alden/CoinDesk)
• Tim Draper Leads Targeted $5M Series A for India Crypto Exchange Unocoin(Daniel Palmer/CoinDesk)
• Over $26M Worth of Bitcoin Associated With 2016 Bitfinex Hack Is on the Move(Jaspreet Kalra/CoinDesk)
• Blockchain Bites: Square’s $50M BTC Investment, MetaMask’s 1M Users, BitMEX’s New CEO
• Blockchain Bites: Square’s $50M BTC Investment, MetaMask’s 1M Users, BitMEX’s New CEO || A (Not Quite) Complete History of Money, Feat. Planet Moneys Jacob Goldstein: One of the hosts of NPRs legendary Planet Money takes us on a whirlwind tour of some of the key moments of money history in the last 1,000 years. For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts , Spotify , Pocketcasts , Google Podcasts , Castbox , Stitcher , RadioPublica , iHeartRadio or RSS . This episode is sponsored by Crypto.com and Nexo.io . Related: Economics Will No Longer Be the Handmaiden of Politics: A History of the Cypherpunks, Feat. Jim Epstein Jacob Goldstein is one of the hosts of NPRs Planet Money. He is also the author of the new book, Money: A True Story of a Made Up Thing . In this conversation, Jacob and NLW discuss: How China invented paper money and then forgot about it for centuries Why the invention of the lightbulb was a pivotal money history moment How money market funds set the stage for the Great Financial Crisis Where bitcoin fits in the world that comes next: without cash, without banks and with government printing Find Jacob Goldstein online: Twitter: twitter.com/jacobgoldstein See also: Cathie Wood: Secrets of the Worlds Best Innovation Investor Related: Bitcoin News Roundup for Nov. 4, 2020 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 A (Not Quite) Complete History of Money, Feat. Planet Moneys Jacob Goldstein A (Not Quite) Complete History of Money, Feat. Planet Moneys Jacob Goldstein
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 18621.31, 18642.23, 18370.00, 18364.12, 19107.46, 18732.12, 17150.62, 17108.40, 17717.41, 18177.48
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Blockchain Bites: Bitcoin on DeFi and DeFi on Bitcoin: Morebitcoinswere tokenized than mined this Sunday, decentralized finance is coming to the Bitcoin system and a former Prudential Securities CEO thinks crypto is a safe bet.
You’re readingBlockchain Bites, the daily roundup of the most pivotal stories in blockchain and crypto news, and why they’re significant. You can subscribe to this and all of CoinDesk’snewsletters here.
Bitcoin’s DeFiDG Lab recently open sourced its proposal for adecentralized finance (DeFi) product leveraging the Bitcoinblockchain. Bitcoin is a growing part of the DeFi ecosystem, built primarily on top of Ethereum, as a tokenized asset. A number of firms including Bison Trails, Crypto Garage and Blockstream are all working on solutions to create a Bitcoin-specific DeFi ecosystem that wouldn’t use representatives of bitcoin, but enable traders to do tasks directly with bitcoin, CoinDesk’s Leigh Cuen reports.
Related:First Mover: Bitcoin Passes $12K, Dollar Worries Grow, OMG Jumps, Portnoy's Orchid #Pump
Fund RisingPantera Capital’s Pantera Venture Fund III has more thandoubled in size since it launchedin 2018. The fund brought in $164.7 million in private placements from around 200 investors, according to a Form D filing with the Securities and Exchange Commission (SEC) Friday. Pantera had originally hoped to raise $175 million for Venture Fund III and said in March of last year it had crossed the $160 million milestone.
Aave’s WaveDecentralized money market Aave has released specifications for version two of its protocol as the projecteyes $1 billion locked under contract,according to DeFi Pulse. Aave will partner with real estate tokenization firm RealT to bring home mortgages to DeFi. RealT did not return questions for comment by press time. As reported by CoinDesk, Aave announced plans to transition to a fully autonomous and decentralized protocol through its “genesis governance” and Aave Improvement Proposals (AIP) scheme.
Crypto AccountsCrypto payments startup Wyre isoffering savings accounts that provide interest on crypto. Announced Friday, Wyre’s client list includes crypto custody firm Casa, wallet provider BRD and traditional enterprises such as banks. The new product’s interest rates are meant to be more stable than interest rates at crypto lenders because Wyre will manage funds between MakerDAO, Compound and two centralized crypto lenders, said Jack Jia, Wyre’s vice president of business.
Ball’s RollingThe former Prudential Securities CEO and current CEO of Sanders Morris Harris, George Ball, suggested bitcoin is “a safe haven” asset. In a recent interview with Reuters, Ball, once a self-defined opponent to blockchain, said crypto looks “very attractive” both in the long term and short term. “The government can’t stimulate the markets forever.”
• ING Bank, Rolls Royce join alliance to promoteblockchain education(CoinDesk)
• 15 Ways tostay sane while tradingcrypto (CoinDesk)
• Bitcoin was the second-most-popular asset on TradingView after Tesla stock last month (The Block)
• How an anti-meme coin joke backfired into a $1.2 million meme coin (Decrypt)
• Meet a freelancecypherpunk developerin Africa (CoinDesk)
Related:First Mover: Litecoin and Mimblewimble, Ether Futures, Chainlink, Curve
DeFi is a small part of the total Ethereum ecosystem, though it’s sending ripples throughout the larger crypt-verse.
According to DeFi Pulse, the total value locked in the leading DeFi applications is around$6.34 billion, a fraction of Ethereum’s$47.8 billionmarket cap.
On Friday, CoinDesk’s Omkar Godbole reported Ethereum’s derivatives markets are booming – largely in response to DeFi. Open interest in futures, or total value of outstanding contracts, rose toa record high of $1.73 billionon Friday, according to data source Skew, surpassing a previous high of $1.45 billion set 10 days earlier.
“The DeFi boom looks to be powering gains in ether,” said John Ng Pangilinan, managing partner at Singapore-based Signum Capital.
DeFi is also helping set records on Bitcoin. On Sunday, more bitcoins were tokenized for use on Ethereum than were created by the Bitcoin protocol.
About 900 bitcoins are mined per day, while1,043 more bitcoins were tokenizedthrough wrapped bitcoin, CoinDesk’s Zack Voell reported. The amount of tokenized bitcoin has shot up to nearly 31,000 bitcoins, up from 3,000 in mid-May.
Hashing Through?Bitcoin traded below $12,000 over the weekend. The cryptocurrency hadconsolidated below this critical resistancedespite reaching a record hashrate of 129.03 tera hashes per second (TH/s), CoinDesk’s Omkar Godbole reports. Some argue an increasing hashrate is a bullish price signal because it causes miners to hold rather than sell bitcoin, thereby raising the price floor. At press time, Bitcoin had crossed the $12,000 level.
Litecoin’s LiftLitecoin is gearing up fora network upgrade that will integrate the privacy protocol Mimblewimble. The upgrade is supposed to help shield the identities of holders of senders and recipients oflitecointokens while also improving the network’s ability to handle more transactions. A testnet of Mimblewimble, in the works for almost a year, is targeted for the end of September.
CBDC CirclesCarmelle Cadet, founder and CEO of EMTECH, thinks central bank digital currency (CBDC) development will depend uponopen protocols, private experimentation and APIs to gain traction. “The tradeoffs between control, interoperability and infinite user experience customization are complex. But there is precedent for dealing with this sort of complexity. Banks have partnered with fintechs to address the market’s need for consumer convenience,” she writes.
Hedge Your Bet?Crypto hedge funds are underperforming blue-chip cryptographic assets such as bitcoin and the S&P 500. Yet, Noelle Acheson, CoinDesk’s head of research, sees asunny outlook for crypto hedge funds.“Investing in a crypto hedge fund instead of directly in the market is going to be a more attractive option for many investors even if the returns are slightly lower, because using a vehicle run by seasoned management is probably safer than direct market participation. Investors don’t have to worry about custody, best execution and liquidity crunches,” she writes in the latest Crypto Long and Short newsletter.Subscribe hereto get it in your inbox.
Asteroid Mining?On Long Reads Sunday, Nathaniel Whittemore asks the question: Is asteroid mining really our best argument forbitcoin over gold?
• Blockchain Bites: Bitcoin on DeFi and DeFi on Bitcoin
• Blockchain Bites: Bitcoin on DeFi and DeFi on Bitcoin || Winter Is Coming: Examining the Economy’s Eight-Body Problem: From the devastation of the service industry to never-ending central bank intervention, these factors make predicting the future of the economy nearly impossible.
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:Bitcoin News Roundup for Aug. 24, 2020
The “three-body problem” is a physics issue that deals with unpredictable futures.
In arecent essay, John Mauldin argues the economy is actually experiencing an “eight-body problem.”
See also:Here Comes the Most Bizarre Bull Market Yet
On today’s episode, NLW explores each of those dimensions shaping the challenge we face, including:
• Central bank intervention
• The destruction of the service industry
• The implosion of global trade
Related:Why Are Traditional Investors So Hungry for Yield Curve Control?
In the end, he argues that in a world ruled by chaos, fighting to control the narrative might be the only rational move.
Read Ben Hunt’s essay “The Three-Body Problem.”
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.
• Winter Is Coming: Examining the Economy’s Eight-Body Problem
• Winter Is Coming: Examining the Economy’s Eight-Body Problem || Coinbase says batching bitcoin transactions has saved clients 75% in fees: Crypto exchange Coinbase said it has saved its customers 75% in transaction fees by batching bitcoin transactions since early 2020, according to ablog postpublished Tuesday.
The announcement comes five months after the exchangerolled outBitcoin transaction batching on both Coinbase and Coinbase Pro, batching all bitcoin send requests on the platforms.
The feature reduces the load on the Bitcoin blockchain network by bundling multiple customer send requests into a single transaction, rather than creating a new transaction for each request. This leads to a reduction in transaction fees. According to Coinbase, 100% of these savings go directly to the customer.
The exchange also said it has reduced its number of daily transactions by 95%.
"This transaction count reduction is beneficial for the network as a whole, and should help lower fees for all Bitcoin users," the blog post stated.
© 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. || Twitter Hacker Is a BitMEX Trader, On-Chain Data Suggests: None of the roughly 13bitcoin(BTC) acquired through Wednesday’s Twitter hack have been laundered, according to chain analysis conducted by Samourai Wallet.
But whoever it was is deep into the cryptocurrency space, with the BitMEX receipts to prove it, according topreliminary analysisfrom Samourai Wallet’s research arm, OXT Research. (Apastebincan be found here.)
“Confirmed, no signs of mixing. Majority of funds spent 1 or two hops and [are] now parked,” Samourai said in a Twitter DM to CoinDesk. “Really curious what their cash-out plan is.”
Related:First Mover: Why Bitcoin Traders Couldn't Give a Sat About the Twitter Hack
As of 14:00 UTC, the funds in at least one address are already under the control of Coinbase, Samourai added.
Read more:Full coverage of Twitter Hack 2020
“Based on the history of the first destination address of the cryptoforhealth scam addresses, the scammers have a history of gambling on Bitmex and Coinbase usage,” Samourai researcher Ergo said in aTweet.
“This is peak crypto,” Ergo added.
Related:Twitter Says Hacker Group Targeted 130 Accounts
Overall, Samourai says the hacker only used three Bitcoin addresses and has not sent any funds through a mixing service, as data provider CryptoQuant had previouslytweeted. (CryptoQuant has since told CoinDesk it no longer believes the funds have been mixed.)
“Always a possibility the address is an unlabeled mixer, but I don’t see any hints, and one-time use addresses are very common in general and not a definitive pattern for mixers,” Ergo told CoinDesk.
Those addresses, however, linked to other addresses that Samourai tracked to the popular crypto derivatives platform BitMEX.
“Everything from the first address is being spent to this address 1Ai52Uw6usjhpcDrwSmkUvjuqLpcznUuyF, which looks to have been first funded via BitMex,” Samourai said.
Read more:Samourai Wallet Releases Privacy-Enhancing CoinJoin Feature
On-chain data allows services to track where funds are moving. In this case, the address had previously been used by a BitMEX trader for moving funds on and off the platform. However, BitMEX has less stringent ID policies, also known as Know Your Customer (KYC), for trading on its domain. So BitMEX may not be so helpful in finding the perpetrator.
BitMEX did not return requests for comment by press time.
“At best investigators can subpoena any relevant account info including IP addresses[;] from there, they can glean some additional info from on-chain data including source of funds,” Ergo said in a private message.
Coinbase, on the other hand, has very strict KYC policies. Ergo said the best chance of identifying the hacker comes from Coinbase.
“OXT Reasearch has also noted a small spend of scammed coins to Binance. Other than the history of 1Ai52Uw6usjhpcDrwSmkUvjuqLpcznUuyF, the links to exchanges and known entities remain minimal,” Ergo said.
• Twitter Hacker Is a BitMEX Trader, On-Chain Data Suggests
• Twitter Hacker Is a BitMEX Trader, On-Chain Data Suggests || Elrond Mainnet Launches With a New Bitcoin-like Token Model and Maiar App: Elronds mainnet has successfully launched, ushering in an era of high-speed dApps and scalable crypto payment technology. The blockchains developers have wasted no time in refining components of Elronds architecture, starting with an enhanced token model. Elrond has also announced details of the first app to go live on its mainnet, available on mobile devices. Maiar is an easy-to-use application that facilitates ERD transactions between users, and will offer features such as staking, lending and progressive security. The app launched on July 30 for early sign-ups and will fully open to the public within the next month. Traditional payment stocks are already feeling the competitive pressure brought by the newcomers like Elrond. Last month Western Union (NYSE: WU ) made an offer to buy MoneyGram in order to be able to better compete with the digital payment start-ups. Western Union hopes that joining its network of tens of thousands of agent locations with MoneyGram's will give the company a better reach and offer consumers more convenience. We aren't certain that lack of physical presence is Western Union's main problem. The biggest news concerning Elronds launch is an adjustment to its tokenomics in a bid to make ERD function more like digital cash with store of value characteristics. This will be achieved by switching to a bitcoin-like deflationary model, which will drive greater demand for the token over time. This aligns with recent partnerships and integrations that have elevated ERD from a gas and staking token to a digital payment option, suitable for spending in-store and online. Defi Debuts on Elrond Defi is everywhere right now, and thus it was always going to feature prominently on a high throughput network such as Elrond, which is launching amidst a decentralized finance boom. Maiar, its debut app, promises to be easy to use, bringing the gaps to the unbanked and placing an array of staking and lending capabilities in the hands of users. Story continues The financial app enables users to lend, spend, and stake their ERD, giving the token additional functionality from day one of the networks launch. Crucially, more than 150 fiat currencies are integrated into Maiar, allowing it to serve as a portal for onboarding users to the Elrond ecosystem. From there, its just a short skip and hop into the broader world of digital assets should newcomers be so inclined. Maiar has been designed to make it easy to send money to contacts and other app users via dedicated usernames, giving it a utility akin to a digital banking service such as Revolut. High Scalability Meets High Scarcity The other major news concerning Elronds launch is the adjustment to its token supply. The current issuance schedule of 20 billion ERD has been slashed to just 20 million, starting with a 10.8% reduction in year one. Due to the reduced supply curve, there will be no further tokens issued after 10 years. The redesign of Elronds token model will make the token function more like hard money, analogous to bitcoin, albeit with a higher total circulating supply. Originally used to calculate the value of commodities like gold and silver based on circulating supply and annual issuance rate, the stock to flow (S2F) model has permeated the cryptoconomy, and its proponents believe that BTC can be modeled in this manner. By the fifth year of its existence, ERD should have a stock to flow ratio of 275, with CEO Beniamin Mincu explaining: A large population of the world is unbanked, without access to the existing financial infrastructure, and so their opportunities to participate in wealth creation are extremely limited. Whats more, this skewed distribution means that incentives and risks can remain hidden until they blow up, creating a problem for everyone. We saw evidence of this during the 2008 financial crisis and were seeing it again these days. According to Mincu, Elrond will fit into a post-scarcity world, serving the needs of a global population that demands financial inclusion and deserves incentives to save, lend, and earn. The Summer of Crypto Love Continues Aside from the explosion in defi growth, summer 2020 is proving to be a busy time for crypto networks, which are launching like champagne corks right now. In addition to Elronds mainnet, Cardanos Shelley hard fork has just occurred, bringing staking pools, delegation, and rewards to the mainnet, and helping to further dentralize the blockchain founded by Charles Hoskinson. In addition, distributed data storage network Bluzelle is launching the first phase of its mainnet on August 8, introducing staking rewards for BLZ holders. With the launch of ETH 2.0 also looming, competition between smart contract chains is about to get fierce. || London Stock Exchange Parent Assigns Financial ‘Bar Codes’ to 169 Cryptos: It’s not quite a seal of approval, but one of Europe’s largest financial markets is giving cryptocurrencies the equivalent of the bar codes found on soup cans and jam jars.
Late last month, the London Stock Exchange Group (LSEG) added 169 digital assets to itsSEDOLMasterfile service, a global database that assigns unique identifiers to financial instruments. The assignees included digital currencies (such asbitcoin), “digital platforms” that allow issuance of multiple assets (such as Ethereum) and security tokens. The seven-digit alphanumeric codes help LSEG’s customers keep track of traded assets from execution to settlement.
The addition of bitcoin and its ilk to the database, in response to customer demand, is a sign that institutional investors are slowly embracing the asset class.
Related:Bitcoin Option Traders Bet on Bullish Move Following Volatility Squeeze
Read more:Introducing the CoinDesk 20: The Assets That Matter Most in Crypto
“Naturally with the gradual institutionalisation of digital assets, a number of our clients were starting to invest in that space, so we felt it was an appropriate time to add these to SEDOL,” said LSEG’s Head of Data Solutions, James Nevin.
He was quick to add that assigning a code does not add any particular legitimacy to any digital asset.
Last year, the company’s main operating subsidiary, the London Stock Exchange (LSE),licensedits Millennium Exchange trade-matching technology to build AAX, a virtual assets exchange based in Hong Kong thatwent livein November.
Related:As Gold Hits 9-Year High, Bitcoin Eyes Price Breakout
Market participants use SEDOL Masterfile to identify individual securities across asset classes including stocks, bonds and exchange-traded derivatives worldwide.
The service was created 30 years ago as a registry of codes to identify securities traded on LSE, said Nevin.
Since then, it has grown to include identifiers for over 100 million securities traded all over the world, includingU.S. municipal and corporate bonds.
Read more:Crypto Lender Nexo to Enter Prime Broker Race, Enlists Chainlink for Audits
“Within that 100 million, there are about 20 million that are active,” Nevin said.
If a company is liquidated or acquired, it disappears in reality but the SEDOL code is kept active to make sure it isn’t reused, and LSEG can “retain full corporate action history” of those securities, Nevin said.
LSEG worked with data providerDigital Asset Researchfor the last three years to create a vetting process for cryptocurrencies and the like.
Normally, with stocks or bonds, customers have the ability to log in and create SEDOL codes within the system, instantly, said LSEG Senior Project Manager Laura Stanley. For the time being, users will not be able to do the same for digital assets, given that this untamed territory isrife with dubious investments.
“Due to the fact that it is a new asset class, there is an eligibility criteria for inclusion,” Stanley said.
The SEDOL Masterfile is made up of an issuer table, a security table and a markets table that are linked together. Cryptocurrencies are hard to shoehorn into this framework given their leaderless nature.
Read more:Copper Now Enables Funds to Create Complex Crypto-Backed Securities
“Not having an issuer does potentially create some challenges but we have managed to get around that by displaying a digital asset, where it doesn’t have an effectual issuer, we display it at the issuer level and at the security level so that it’s easier to locate within the SEDOL Masterfile,” Stanley said.
The digital assets are categorized based on their primary function, Stanley said. Digital Currencies (XA) like bitcoin function as a medium of exchange or store of value, and Digital Platforms (XB) like Ethereum allow the creation of smart contracts to facilitate, verify and uphold an agreement between parties that is then recorded on a blockchain. LSEG has also added Security Tokens (XC) under financial instruments.
“That is the way we have chosen to do that today. In the future, we could increase the granularity based on customer feedback,” she said.
• London Stock Exchange Parent Assigns Financial ‘Bar Codes’ to 169 Cryptos
• London Stock Exchange Parent Assigns Financial ‘Bar Codes’ to 169 Cryptos || The Crypto Daily – Movers and Shakers – July 4th, 2020: Bitcoin fell by 0.30% on Friday. Following on from a 1.51% slide from Thursday, Bitcoin ended the day at $9,073.2.
It was a relatively range-bound day for Bitcoin. A bullish start to the day saw Bitcoin rise to a late morning intraday high $9,135.5 before pulling back.
Falling well short of the first major resistance level at $9,260.8, Bitcoin slid to a late morning intraday low $9,056.7.
Steering clear of the first major support level at $8,944.6, Bitcoin moved back through to $9,130 levels before easing back.
A bearish end to the day left Bitcoin in the red.
The near-term bullish trend remained intact in spite of the recent pullback to sub-$9,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.
Across the rest of the majors, it was a mixed day on Friday.
Cardano’s ADA reversed Thursday’s slide, with a 3.87% gain to lead the way.
Bitcoin Cash SV (+0.70%), EOS (+2.46%), Litecoin (+0.22%), Ripple’s XRP (+1.02%), and Tron’s TRX (+0.78%) also found support.
It was bearish for the rest of the majors, however.
Binance Coin (-0.59%), Bitcoin Cash ABC (-0.44%), Ethereum (-0.61%), Monero’s XMR (-3.48%), Stellar’s Lumen (-0.40%), and Tezos (-2.41%) struggled on the day.
Through the current week, the crypto total market cap rose to a Wednesday high $260.82bn before falling to a Thursday low $249.45bn. At the time of writing, the total market cap stood at $254.5bn.
Bitcoin’s dominance rose to a Monday high 66.29% before falling to a Friday low 65.39%. At the time of writing, Bitcoin’s dominance stood at 65.63%.
At the time of writing, Bitcoin was down by 0.04% to $9,069.2. A mixed start to the day saw Bitcoin fall to an early morning low $9,063.2 before rising to a high $9,086.6.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it’s a mixed start to the day.
Binance Coin (-0.34%), Ethereum (-0.03%), Monero’s XMR (-0.02%), Stellar’s Lumen (-0.01%), and Tezos (-0.20%) joined Bitcoin in the red.
It was a bullish start to the day for the rest of the majors. At the time of writing, Cardano’s ADA was up by 1.72% to lead the way.
Bitcoin would need to move through the $9,090 pivot to support a run at the first major resistance level at $9,120.23.
Support from the broader market would be needed, however, for Bitcoin to break back through to $9,100 levels.
Barring an extended crypto rebound, the first major resistance level and Friday’s high $9,135.5 would likely cap any upside.
In the event of a crypto breakout, Bitcoin should break through the second major resistance level at $9,167.27 before any pullback.
Failure to move through the $9,090 pivot level could see Bitcoin struggle on the day.
A fall back through Friday’s low $9,056.7 would bring the first major support level at $9,041.43 into play.
Barring an extended crypto sell-off, Bitcoin should avoid sub-$9,000 and the 23.6% FIB of $8,900. The second major support level at $9,009.67 should limit any downside on the day.
Thisarticlewas originally posted on FX Empire
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• European Equities: A Week in Review – 04/07/20
• USD/CAD Daily Forecast – Range-Bound Trading Continues || Gold Investing: What's Next After New Highs?: image Getty Images Gold prices recently hit new all-time highs, pushing through the previous highs set in 2011. The yellow metal has risen about 30% from its March lows and has been trending higher for the past two years. It's not difficult to understand why investing in gold has been so popular lately. SEE MORE 7 Gold ETFs With Low Costs As the COVID-19 crisis deepened earlier this year, the Federal Reserve pushed monetary policy to dovish levels previously thought to be impossible. Between March and June, the Fed's balance sheet jumped by around $3 trillion. At the risk of oversimplifying, that means that the Fed just created $3 trillion in new money and dumped it into the financial system. To put that in perspective, that number represents 14% of the entire $21.5 trillion U.S. economy. And of course, it's not just the Fed. Every other central bank in the world is doing roughly the same thing, even if the respective dollar amounts are different. So, what happens now? Can the epic run in gold prices continue, or are gold investors about to hit a top? Investing in Gold Picks Up Momentum Many investors get intimidated when they see an investment hit new all-time highs. But that's exactly what you want to see in a healthy bull market. "An object in motion tends to stay in motion," says Adam O'Dell, editor of Cycle 9 Alert , quoting Sir Isaac Newton. "While you can point to fundamental factors that support gold's rise, it's gold's price momentum itself that has my attention. Momentum buying tends to beget more momentum buying, and today I'm seeing the conditions in place for a significant move higher." SEE MORE Investing in Gold: 10 Facts You Need to Know Most gold is held in central bank vaults or held as jewelry, so the investable market for gold isn't exceptionally large. For example, the SPDR Gold Shares ( GLD ) – the largest and most liquid gold ETF – has just $67 billion in assets under management. The iShares Gold Trust ( IAU ) has just $26 billion. For perspective, the three largest S&P 500 index ETFs have a trillion dollars in combined assets, and the market cap of the S&P 500 index itself is $27 trillion. Story continues So those worried about investing in gold at new highs, take a little heart. Given the relatively small size of the investable gold market, it wouldn't take much in the way of new inflows to send the price of gold sharply higher from here. Unlimited New Dollars We saw the major increase in the Fed's balance sheet, but perhaps a better way to visualize the impact of the Fed's actions is by looking at the money supply. M2 is a relatively broad measure of the number in dollars floating around out there, consisting of cash in circulation, checking accounts, savings accounts, money market funds. This is real cash in wallets and in bank accounts, and the numbers we see here match the increase in the Fed's balance sheet. The money supply has expanded by about $3 trillion dollars since the COVID-19 panic really got underway in March. Getty Images An increase in the money supply does not automatically mean a surge in inflation … at least not immediately. As Dr. Lacy Hunt, Chief Economist for Hoisington Investment Management Company, explained it in a MacroVoices podcast , "The presumption is that if the Fed is able to increase the money supply that it will have important influences on economic activity and on the inflation rate. But GDP is determined by money and velocity." Dr. Hunt expects deflation in the immediate future due to the massive destruction of demand during the virus lockdowns. But eventually, he expects that deflation will give way to major inflation and possibly hyperinflation as government debts effectively become unpayable and the Federal Reserve is forced to effectively finance the government by printing money. Weakening of the Dollar Standard It's a mistake to let politics guide your investment decisions. But at the same time, you can't be blind to political developments. Today, the dollar-based world financial system is under attack. Rival powers like China resent the dollar's preeminence, and the multilateral system that has helped to prop up the dollar appears to be crumbling in the absence of U.S. leadership. There's no real viable alternative to the dollar. No other world currency is large enough or structurally sound enough to do the job. But as the dollar's dominance potentially retreats, anti-currencies such as gold and even Bitcoin stand to fill that vacuum. That might seem a little farfetched, but even the fear that it is possible could be enough to keep gold prices elevated for the foreseeable future. All of this remains to be seen, of course. It could be that the inflation we fear may never materialize and that the dollar continues to reign supreme as the unrivaled global currency. But given the very real risk to financial stability posed by COVID-19 and the government response to it, doesn't investing in gold at least a little bit make sense? SEE MORE 7 Top Robinhood Stocks: Do the Pros Agree? You may also like 5 Actively Managed Vanguard Funds to Own for the Long Haul Your Guide to Roth Conversions Which Tax Documents Should I Save, Which Should I Shred? || Climbing off Twitter on Scaffolds of Truth: Where Srinivasan and Benet Diverge: In the American epic,Lonesome Dove, by Larry McMurtry, there are two characters who can see much further than the other members of their gang: Captain Gus McCrae and Joshua Deets. McCrae’s co-captain, Woodrow Call, and their fellow cowboys learn to take Deets and McCrae at their word when they say they see something out where the Earth bends.
Listening to Filecoin founder Juan Benet is like that.
When he’s really trying to peer into the future of the internet, what he sees is hazy and chimerical, but he’s seeing something, anticipating either what must be built or the consequences of inaction.
Related:With Chat Privacy Under Threat in US, Firm Develops '100% User-Controlled' Messaging
This stood out Wednesday night when Benet shared the Zoom stage with Ethereum creator Vitalik Buterin and former Coinbase executive Balaji Srinivasan, both of whom are strong futurists.
The conversation, sponsored by HackFS, ETHGlobal and Protocol Labs, was billed as a “debate,” but one had to wonder what these fellow travelers down blockchain’s volatile highway would actually disagree about.
To state the low-energy dispute simply, Srinivasan is focused on urgently shaking up the information distribution system, whereas Benet is more worried about people ever trusting anything they don’t see themselves. That is: verification of source material.
“[People] don’t have a good mechanism for achieving truth,” Benet said. “That is a much worse state than where we are now, and that could be precipitated by centralized or decentralized media not taking these problems seriously.”
Related:Jack Dorsey Has Floated Decentralized Fact-Checking at Twitter. Here's What That Could Look Like
Srinivasan strongly advocates that superusers of social media gradually exit networks like Twitter and start reverting back to their own blogs again.
He’s been focused on this for months (see “This Week in Startups” from April andhis keynoteat Messari’s Mainnet virtual conference in June). More recently,he described howTwitter users could build a minimum viable product for monetizable distribution from their own web domains.
In Wednesday’s discussion, Srinivasan immediately linked the problems of social media with the problems of legacy media.
“Decentralized media also means if you give individuals the ability to monetize on their own, potentially pseudonymously, there’s less pressure for them to be part of an intellectual orthodoxy where they have to repeat certain nostrums to retain their job in an uncertain environment,” he argued. The successful Substack newsletters are the ones that stand out for their originality, he said.
But Benet is not as ready to dismiss the practice of reporting as decisively as Srinivasan. He said:
“The entire history of journalism is filled with incredible important advances and improvements that came simply because there was a series of articles that caused an important change to happen. So just recalling that that’s the point, and even though right now the entire media incentive structure is kind of messed up, both in traditional media and social media, let’s figure out how we can build a system that promotes that.”
For his part, Buterin went straight to the problem of social media, though, describing what he felt like everyone believed Twitter to be, the great “water cooler” where all kinds of people could chat and cross over tribal lines.
It sort of started that way, but that’s not where it ended up. “All of these different tribes that really disagree with each other are really yelling at each other and it’s not at all clear that the result is better,” Buterin said.
Srinivasan praised Facebook, Twitter and others for taking buggy services and making them available to the masses, for free.
But that all came at a cost, he argued.
“There’s an election happening every day on Twitter, and this is literally how policy is happening,” Srinivasan said. “Twitter is not always real life but it will be and it becomes real life.”
Benet wants to see these networks disrupted, but he also thinks that with every new experiment on the distribution side we accrue a bit more technical debt on the validation side. Distribution of information is light years ahead of where it was in the 1980s, but, he said:
“Part of what’s happening now is we didn’t put in any way of controlling for manipulation vectors and attack vectors in the entire stack. We’ve created a set of systems that can balkanize not around access or thought but rather balkanize on manipulation targets. It’s very easy for attackers to divide the network.”
A core of this problem is disinformation campaigns that trick people into believing things about the world that aren’t true, in such a way that the untruths persist even when they are repeatedly debunked.
Benet is skeptical about future experiments in social media if they don’t happen alongside even more aggressive experiments in the verifiability of data and information.
“A number of the first-order suggestions for most decentralized media … will make that problem orders of magnitude worse, not better,” he said. “So I think in order to succeed here, we have to look ahead of those problems and start talking about those larger issues of how do you get to systems that are attack-resistant, and that enable some distributed notion of getting to truth.”
Srinivasan is also thinking seriously about the truth problem. He talked about two concepts: oracles and advocates.
Oracles are cryptographically signed data feeds that prove their provenance and the fact that they haven’t been tampered with. Advocates represent a proposal for machine-readable statements about perspective, a sort of “robots.txt” file for ideology, that would allow search engines and readers to understand the disposition of any writer as a way to characterize the arguments they make.
“I like where a lot of that is headed,” Benet said. “I think there’s a massive problem in just establishing truth.”
Ina TEDxSanFrancisco talkin 2016, Benet said the internet is “the planet’s most important technology.” But even then he felt it could be much better.
On Wednesday, it was clear he was still only at the beginning of some very complex ideas about the future.
Benet spoke about using natural language processing to find ways to turn human speech into structured data, so factual data could be extracted from claims.
He also talked about the need for a way to describe “the scaffold of claims,” that is to look back in an organized fashion at the prior claims any given new claim is based on. This would help humans or machines go backward to identify the truth or non-truth of any particular argument.
Benet’s talking much more about the technical stack the web is built on here than he is about companies or business models. Almost everything on the web so far has been built on Linux, Apache, MySQL and Python, or versions thereof. That’s the stack. Benet thinks there could be a future where a universal data store of some kind is a part of that stack, one that many websites can draw from.
“My impression is we are headed to a much better future where the data structures are going to be decoupled from the [user interfaces],” Benet said. “There will be many different systems built atop the same information graph.”
And this was a point where Srinivasan agreed.
It’s a crude version of it, but on some level Bitcoin already is what Benet is describing. It’s a shared database about the truth, only in Bitcoin’s case that truth extends no further than who owns which unspent transaction outputs.
It’s a start, though, and one Srinivasan noted the wider world doesn’t really appreciate. He said:
“I think something that is massively still underappreciated by folks outside our space is the extent to which something like that already exists, in the sense that Coinbase and Binance and Blockchain.info … are all different layers over the Bitcoin and Ethereum blockchains.”
So maybe those two blockchains are the Captains McCrae and Call of this Web3 epic, leading us all like cantankerous cattle on the long road to the utopia of a decentralized Montana.
It remains to be seen which of the two will have to carry the other’s corpse back to Texas, where he can give a last look at the burned-down saloon of our past internet, where Twitter played piano and Facebook tended bar.
• Climbing off Twitter on Scaffolds of Truth: Where Srinivasan and Benet Diverge
• Climbing off Twitter on Scaffolds of Truth: Where Srinivasan and Benet Diverge || Market Wrap: Bitcoin Climbs to $11.5K With Record Amount in DeFi: Bitcoin bounced back from Thursday’s drop at a time when more of the cryptocurrency is locked in DeFi than ever before.
• Bitcoin (BTC) trading around $11,511 as of 20:00 UTC (4 p.m. ET). Gaining 2.2% over the previous 24 hours.
• Bitcoin’s 24-hour range: $11,231-$11,552
• BTC above its 10-day and 50-day moving averages, a bullish signal for market technicians.
Bitcoin’s price trended upward Friday, going as high as $11,552 on spot exchanges such as Coinbase. “Bitcoin has rotated around the most traded price at $11,500,” said Daniel Koehler, liquidity manager at cryptocurrency exchange OKCoin. “Looking down, the next significant support levels are $10,800 and $10,550.”
Read More:Bitcoin, Gold Recover After Jerome Powell Speech Shakes Markets
Related:First Mover: Huobi Takes On OKEx in Futures, Opening New Front in ‘Chinese’ Rivalry
Jean Baptiste Pavageau, partner at quant trading firm ExoAlpha, says bitcoin’s recovery after gyrating $450 onFederal Reserve Chair Jerome Powell’s commentsThursday continues a larger bullish cycle started earlier in the summer.
“After its recent fake breakout above the $12,000 resistance level, bitcoin saw a short-term trend reversal in its broader bullish trend started in June,” said Pavageau. “On the long term the Fed’s comments are very positive for bitcoin and the crypto markets as a safe heaven because of their limited supply.”
For 2020, bitcoin is up 60% while gold is up almost 30%. Investors often refer to both as safe haven assets.
On the derivatives side, the market saw lots of expirations Friday, with over $740 million in bitcoin options expired on the Deribit platform alone. The expirations were expected to induce some volatility; instead, bitcoin’s price steadily trended upward during the day.
Related:US Stocks Closing on Bigger August Gain Than Bitcoin
“There’s still an element of absorbing what has happened recently in the DeFi markets and the situation after Powell’s statement,” said Chris Thomas, head of digital assets for Swissquote Bank, referring to decentralized finance. He was “surprised there wasn’t a more aggressive move in the last few days, but it’s also good to have some calm for a while.”
Read More:Winklevoss Brothers Say Bitcoin Could Reach $500K
OkCoin’s Koehler told CoinDesk bitcoin’s price could run higher to cap off the week, given where option strikes currently lie. “To me, we probably pin near $11,675 – sell a call and a put at $12,000,” Koehler said, describing a “short straddle” options strategy, which bets that volatility will fall. “This is due to the high level of open interest around that strike rate, which means a lot of premium will need to be reinvested,” he added.
Ether (ETH), the second largest cryptocurrency by market capitalization, was up Friday, trading around $397 and climbing 4.8% in 24 hours as of 20:00 UTC (4:00 p.m. ET).
Read More:DeFi Studio Framework Labs Leaves Stealth Mode With $8M in Seed Funding
The amount of bitcoin locked in DeFi, has hit a new high. Over 55,500 BTC is now “locked” in DeFi, which means it is being used for liquidity, gaining a percentage return or yield. This locked amount is the highest yet.
Jean-Marc Bonnefous, managing partner for Tellurian Capital, which has been investing in crypto projects since 2014, says “fear of missing out,” or FOMO, is one reason so many “hodlers” are locking their bitcoin in DeFi.
“I assume the BTC holders want to participate in the DeFi opportunities so they will need to wrap their bitcoin into those applications to get some yield,” he said. “Too tempting I guess.”
Digital assets on theCoinDesk 20are all green Friday. Notable winners as of 20:00 UTC (4:00 p.m. ET):
• nem(XEM) + 12.7%
• lisk(LSK) + 9.9%
• monero(XMR) + 6.4%
Read More:21 Bitcoin Mining Farms Stripped of Energy Perks in Inner Mongolia
Equities:
• Asia’s Nikkei 225 closed down 1.4% onreports Japanese Prime Minister Shunzo Abe planned to step down for health reasons. The official announcement came after the close.
• Europe’s FTSE 100 ended the day in the red 0.61% astraders took profits ahead of a long holiday weekend.
• The United States’ S&P 500 gained 0.60% astech and energy stocks led the index higher.
Read More:Binance’s Shrinking Trading Spreads and Bitcoin’s Jackson Hole Fizzle
Commodities:
• Oil is flat, down 0.10%. Price per barrel of West Texas Intermediate crude: $42.95.
• Gold was in the green 1.8% and at $1,964 as of press time.
Read More:Fed Chair Powell’s Flexible Inflation Views Were Already Priced In
Treasurys:
• U.S. Treasury bond yields were mixed Friday. Yields, which move in the opposite direction as price, were down most on the two-year, in the red 14.6%.
Read More:US Files Suit Against Crypto Accounts Tied to North Korea
• Market Wrap: Bitcoin Climbs to $11.5K With Record Amount in DeFi
• Market Wrap: Bitcoin Climbs to $11.5K With Record Amount in DeFi
[Random Sample of Social Media Buzz (last 60 days)]
None available.
|
Trend: down || Prices: 11711.51, 11680.82, 11970.48, 11414.03, 10245.30, 10511.81, 10169.57, 10280.35, 10369.56, 10131.52
|
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]
Not fully available.
[Random Sample of News (last 60 days)]
Iran Ripe For Investment Once Sanctions Are Lifted: From oil to consumer goods, Iran is becoming a sought after marketplace as the potential of a nuclear deal removing Western sanctions is looking more and more likely.
Everyone from individual investors to major companies is looking at the Middle Eastern nation as an emerging market with an enormous amount of untapped potential.
Investment In Oil
Whileoil pricesare likely to take a hit with the introduction of Iranian oil to the market, the Iranian oil sector is a valuable investment for U.S. and European companies looking to enter the nation's market.
In September, Iranian officials areplanninga conference in London, at which foreign firms can evaluate the conditions of new oil contracts.Expectations are highthat Western companies will be interested in taking on joint ventures with Iran's National Iranian Oil Company once the sanctions have been lifted.
Related Link:Could The Iran Nuke Deal Really Push Oil Prices Down Another ?
Banking
Iran is home to nearly 80 million people, providing a huge market that could become even more attractive than the nation's wealth of natural resources. At the moment, only a sliver of that population has a debit card and even fewer have any debt.
For that reason, Western financial firms are likely to make their way into Iran as soon as possible with the introduction of credit cards and borrowing.
Consumer Products
Iranians spent $77 billion on food and $22 billion on clothes in 2012 despite the strict sanctions, as reported by the Wall Street Journal, so it's safe to assume that consumer products' firms will be looking to enter Iran's market as well.
Some say that the nation's population is nostalgic for American-made goods, especially cars, that used to be available before the sanctions were in place.
Risks
While the figures may look good on paper, many companies are likely to be hesitant to expand into Iran at first. For some, there are ethical issues about investing in a country that has been associated with terrorism. For others, there is a worry that the nuclear deal won't hold up.
Even if the West and Iran can iron out a concrete agreement by the end of June, there is a possibility that Iran won't comply with the terms of the agreement at some point in the future, which could mean more sanctions that would prevent businesses from moving their money out of Iran.
Image Credit: Public Domain
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Could Marijuana Help House Prices?: In states where marijuana has been legalized, many homeowners have complained that the opening of pot dispensaries could bring down property values. However, in Colorado, where both medical and recreational marijuana has been legalized, some claimthe opposite is true.
New Jobs
In Denver, home prices have risen 10 percent since March 2014, according to the S&P/Case-Shiller Home Price Index.Some saya large part of that rise can be attributed to the marijuana industry.
The new industry has created thousands of jobs across a variety of sectors. Not only are businesses directly linked to pot – like growers and dispensaries – taking on new employees, but security companies, electricians and hotels have all seen an influx of business due to marijuana.
Related Link:Marijuana Industry Blazes The Path For A New Kind Of Lawyer
Access To Marijuana
The rental market in Colorado has also been booming as people from out of state come in looking for access to marijuana. Some families are interested in obtaining medical marijuana to treat a chronic condition, while others are keen to live in Colorado to enjoy the relaxed lifestyle the new laws permit.
Still Some Concern
While the real estate market in Colorado appears to be booming, some warn that it will fizzle as the long-term problems with pot settle in.
For one, laws allowing people to cultivate up to six plants means prospective buyers will need to look for a new set of issues when it comes to home inspections. Buyers will need to check for tampering with the home's electrical systems and mold issues associated with marijuana growing before committing to a new home.
Another concern is increased traffic in neighborhoods where marijuana is being grown. Many people disregard the state's limit of six plants and set up illegal grow houses, which could decrease the value of properties in the area.
Image Credit: Public Domain
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• AgriScience Makes Smart Soil To Improve Farming
• Dutch Bank Issues Europe's First Certified Climate Bond
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Your first trade for Friday: The " Fast Money " traders gave their final trades of the day. Tim Seymour was a seller of IWM (NYSE Arca: IWM) . Jon Najarian was a buyer of ARG ( ARG ) . Brian Kelly was a seller of HYG (NYSE Arca: HYG) . Dan Nathan was a buyer of LVS ( LVS ) puts. Trader disclosure: On June 4, 2015 the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Tim Seymour is long AAPL, T, BAC, C, DIS, F, FXI, GE, GM, GOOGL, INTC, KORS, SUNE, Tim's firm is long BABA, BIDU, MCD, NKE, NOK, SBUX, YHOO. Jon Najarian is l ong AEP, BBY, CS, CSLT, GE, HOG, HSBC, HZNP, KORS, MCD, MW, NEE, NRG, PG, RHT, SIMO, SYK, TTWO, TLT, VIX, XLI, YPF, he is long calls AIG, ANF, ARG, ARIA, CA, CBS, CTXS, DE, DRI, EBAY, ETFC, GE, GLD, IDTI, JNPR, KING, KO, LLY, MCD, MU, NUAN, PG, PHM, SFUN, SNDK, SUNE, he is long puts KORS, LC. Today he bought ARG calls, MU calls, CA calls, ETFC calls, and LC puts. Dan Nathan is long LNKD July call fly, LVS July Aug Put Spread, GOOGL June/July Call Spread, TWTR, BBRY June calls, SO, DE June put fly, INTC July put, SPY June put fly, he is short SO Aug calls. Today he sold to close TLT June call butterfly and GOOGL June call fly. Brian Kelly is long DXGE, BTC=, BBRY, U.S. Dollar, he is short Australian Dollar, he is short Canadian Dollar, he is short Yen, he is short Yuan. More From CNBC Top News and Analysis Latest News Video Personal Finance || Iran Ripe For Investment Once Sanctions Are Lifted: From oil to consumer goods, Iran is becoming a sought after marketplace as the potential of a nuclear deal removing Western sanctions is looking more and more likely. Everyone from individual investors to major companies is looking at the Middle Eastern nation as an emerging market with an enormous amount of untapped potential. Investment In Oil While oil prices are likely to take a hit with the introduction of Iranian oil to the market, the Iranian oil sector is a valuable investment for U.S. and European companies looking to enter the nation's market. In September, Iranian officials are planning a conference in London, at which foreign firms can evaluate the conditions of new oil contracts. Expectations are high that Western companies will be interested in taking on joint ventures with Iran's National Iranian Oil Company once the sanctions have been lifted. Related Link: Could The Iran Nuke Deal Really Push Oil Prices Down Another ? Banking Iran is home to nearly 80 million people, providing a huge market that could become even more attractive than the nation's wealth of natural resources. At the moment, only a sliver of that population has a debit card and even fewer have any debt. For that reason, Western financial firms are likely to make their way into Iran as soon as possible with the introduction of credit cards and borrowing. Consumer Products Iranians spent $77 billion on food and $22 billion on clothes in 2012 despite the strict sanctions, as reported by the Wall Street Journal, so it's safe to assume that consumer products' firms will be looking to enter Iran's market as well. Some say that the nation's population is nostalgic for American-made goods, especially cars, that used to be available before the sanctions were in place. Risks While the figures may look good on paper, many companies are likely to be hesitant to expand into Iran at first. For some, there are ethical issues about investing in a country that has been associated with terrorism. For others, there is a worry that the nuclear deal won't hold up. Story continues Even if the West and Iran can iron out a concrete agreement by the end of June, there is a possibility that Iran won't comply with the terms of the agreement at some point in the future, which could mean more sanctions that would prevent businesses from moving their money out of Iran. Image Credit: Public Domain See more from Benzinga Will Russia Help Ease Greek Debt? AIG Becomes The Latest Company To Use Drones Bitcoin Foundation Accused: Misleading Members © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Thoughts on The Future of Bitcoin From Genesis-Minings CEO Marco Streng – Established Bitcoin Cloud Mining Company: Established In 2013 And One Of The Largest Bitcoin Cloud Mining Platforms In The World, Genesis-Mining's CEO Marco Streng Shares His Thoughts On The Possible Future Of Bitcoin
Hong Kong / ACCESSWIRE / May 2, 2015 /Writing about the future of Bitcoin with any certainty is like saying someone knows a certain horse will definitely win the Triple Crown this year. The fact is that the technology could go anywhere, legislation could change everything, andBitcoin culture continues to evolve somewhat sporadically. But there is no fun in not speculating; so Genesis Mining CEO Marco Streng decided to answer the impossible questions.BecauseGenesis Mining is one of the largest suppliers of any Bitcoin company in the world, Streng is uniquely informed about what new technologies are coming into vogue, which are over-hyped, and what research could change the technology tomorrow.
"There is a lot of innovation and pioneering going on in the mining world. Advancements range from innovative data center structures, intelligent and more powerful mining farm monitoring solutions, to more and more optimized chip designs for lower and lower nanometer scales."
Bitcoin culture today places a premium on the crowd-monitored nature of the technology, but as the power continually gravitates towards large companies and large data centers, that culture's voice is losing its thunder. The question is whether the average user will embrace the new era of mining or reject Bitcoin altogether. While the currency still represents the most regulatory-free currency in the world, its early adopters envisioned nothing short of utopia. Big companies are as prone to corruption as any other organization, or so the argument goes.
Streng got the question if the consolidation of mining will hurt or help the Bitcoin movement, especially concerning the Bitcoin faithful.
"What people may forget is that the higher the total mining power in the network, the less vulnerable Bitcoin is. In the early days, a private individual could possibly gain enough influence to control the Bitcoin network by a large enough investment in mining. Times have changed and it is much harder to do that now."
One of the biggest obstacles still facing the currency is evangelizing the many millions of people who believe it is a fringe movement, a fad, one that will disappear quietly in a few years. It does continue to edge its way in to the mainstream with small but notable successes, like Rand Paul’s new presidential campaign website accepting donations in BTC. And the technology does continue to gain high profile backers from numerous industries. But even with the most rose colored lenses, no one can say that Bitcoin is mainstream. Streng doesn’t think we will have to wait too long for that to happen.
"For those of us born in the late 80’s and early 90’s, we grew up with the internet being a major part of our lives. We didn’t have to adopt the technology, we simply had to learn to use it and convince our parents we needed to upgrade our dial up connection. Change is hard, and we saw older generations struggle to use Google instead of libraries and Amazon instead of RadioShack. Despite some people opposing it and all the negativity it received, the internet prevailed and has changed the daily lives of billions of people. I understand that Bitcoin sounds crazy to some, but inmany ways it is following the same path as the internet, and I think it will change the world just as profoundly."
Time will tell if Streng is right — if a more centralized infrastructure can mesh with Bitcoin culture, if the technology will be embraced by the general public, and if officials in the US and other countries decide not to regulate. But one thing is for sure, many thousands of highly informed critics said Bitcoin would never last as long as it has.
About Genesis-Mining:Hong Kong basedGenesis-Mining was established in October 2013 with Bitcoin cloud mining facilities located in Iceland, USA and Canada. Genesis-Mining has a partnership with the world's largest ASIC manufacturer; Spondoolies Tech.For more information about us, please visithttps://www.genesis-mining.com/a/47631
Contact:Paulo [email protected]
Source:Genesis-Mining || Your first trade for Wednesday: The "Fast Money" traders delivered their final trades of the day.
Tim Seymour was a seller of the TBT(NYSE Arca: TBT).
Pete Najarian was a buyer of ADT(ADT).
Brian Kelly was a buyer of LVS(LVS).
Steve Grasso was a buyer of SAP(XETRA:SAP-DE).
Trader disclosure: On May 12, 2015 , the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders:Tim Seymour is long T, BAC, C, DIS, F, GE, GM, GOOGL, INTC, JCP, KO, SUNE, TBT, VIP, Tim's firm is long BABA, BIDU, CHL, MCD, NKE, NOK, SBUX, YHOO. Pete Najarian is long AMAT, AAPL, BABA, BAC, BMY, BP, CSX, DISCA, FOXA, GE, KKR, KO, LLY, MBLY, MRK, PEP, PFE, he is long calls AA, AAL, BBY, BK, CBS, COP, CSX, DB, EJ, F, FL, GE, GS, HSBC, HZNP, IMAX, KO, KSS, LEN, MAC, MYL, NEE, NTAP, NUAN, OC, PFE, SYY, TEVA, TSX, UAL, UUP, VALE, VMW, VZ, XLF, XOM, ZIOP. Steve Grasso is long AAPL, BAC, BTU, DD, EVGN, MJNA, PFE, T, TWTR, GDX, his firm is long TWTR, APA, AMZN, MCD, OXY, RIG, NE, TSE, VALE, IBM his kids own EFG, EFA, EWJ, IJR, SPY. Brian Kelly is long BTC=, BBRY, SPY puts, U.S. Dollar, he is short Australian Dollar, he is short Yen, he is short Yuan.
Stifel Analyst James Albertine: Stifel or an affiliate is a market maker or liquidity provider in the securities of Tesla Motors, Inc.
More From CNBC
• Top News and Analysis
• Latest News Video
• Personal Finance || USAA creates research team to study use of bitcoin technology: By Gertrude Chavez-Dreyfuss
NEW YORK, May 8 (Reuters) - USAA, a San Antonio, Texas-based financial institution serving current and former members of the military, is studying the underlying technology behind the digital currency bitcoin to help make its operations more efficient, a company executive said.
Alex Marquez, managing director of corporate development at USAA, said in an interview this week that the company and its banking, insurance, and investment management subsidiaries hoped the "blockchain" technology could help decentralize its operations such as the back office.
He said USAA had a large team researching the potential of the blockchain, an open ledger of a digital currency's transactions, viewed as bitcoin's main technological innovation. It lets users make payments anonymously, instantly, and without government regulation.
The blockchain ledger is accessible to all users of bitcoin, a virtual currency created through a computer "mining" process that uses millions of calculations. Bitcoin has no ties to a central bank and is viewed as an alternative to paying for goods and services with credit cards.
"We have serious interest in the blockchain and we think the technology would have an impact on the organization," said Marquez. "The fact that we have such a large group of people working on this shows how serious we are about the potential of this technology."
USAA, which provides banking, insurance and other products to 10.7 million current or former members of the military, owns and manages assets of about $213 billion.
Marquez said USAA had no plans to dabble in the bitcoin as a currency. Its foray into the blockchain reflects a trend among banking institutions trying to integrate bitcoin technology into their systems. BNY Mellon and UBS have announced initiatives to explore the blockchain technology.
Most large banks are testing the blockchain internally, said David Johnston, managing director at Dapps Venture Fund in San Antonio, Texas. "All of the banks are going through that process of trying to understand how this technology is going to evolve."
"I would say that by the end of the year, most will have solidified a blockchain technology strategy, how the bank is going to implement and how it will move the technology forward."
USAA is still in early stages of its research and has yet to identify how it will implement the technology.
In January this year, USAA invested in Coinbase, the biggest bitcoin company, which runs a host of services, including an exchange and a wallet, which is how bitcoins are stored by users online.
(Reporting by Gertrude Chavez-Dreyfuss; Editing by David Gregorio) || Avra Announces Launch of Top Tier Security Products for Digital Currency Vendors: GREENVILLE, SC--(Marketwired - Apr 20, 2015) - Avra, Inc. ( OTCQB : AVRN ) ("Avra" or the "Company") a development stage company pioneering product innovation and activation of merchant and consumer commerce in the global Bitcoin-related digital currencies market, is pleased to announce the introduction of AvraSecure, a dedicated platform which offers critical security solutions to the growing digital currency industry. AvraSecure ( www.avrasecure.com ) is a perfect fit to complement all forms of technical payment infrastructure such as Bitcoin ATM machines, electronic wallets and related digital storage and transaction systems as well as payment gateways for Visa® and MasterCard® processing; while providing security and compliance requirements for KYC/AML which owner/operators will need in order to stay protected and remain compliant within the increasingly stringent regulatory environment. Avra is has created a one-stop solution that provides a best practice level of protection combined with an easy to integrate application interface. Avra invites its peers to join our security initiative and increase the level of security to the highest standards in order to combat intrusions and their effect on the industry, individual brand reputation, and most importantly, customer acquisition and retention. "Card brands such as Visa, MasterCard, Discover and AMEX agreed to form a security council in 2004 known as the Payment Card Industry Security Standards Counsel which to-date has had a very positive impact on protecting consumers and businesses. More needs to be done however as its shocking to think what the impact of breaches could be without this council," stated Steve Shepherd, CEO at Avra. "Digital Currency businesses are a relatively small but highly visible target and Avra has invested significantly in the development of preventative applications available to our clients through AvraSecure, a subscription based solution which can be implemented for as little as $199 per month with increased security solutions available based upon a completely free client-specific needs assessment." Story continues "It is a difficult task to make frictionless commerce service commitments as easy as possible when we operate in an environment that is constantly under the threat of attack. Hackers have more motivation to continue to find vulnerabilities whenever and wherever they can. We are committed to delivering rigorously controlled access that achieves the highest level of security and protection to our users, while continuously monitoring for vulnerabilities," stated Barry Johnson, Avra's Data Security Manager, "Many of the people becoming involved in the Bitcoin arena aren't necessarily security engineers with the bank-grade experience necessary to secure servers, wallets, websites and shopping carts. Currently, the real cost of intrusions can run into millions of dollars with limited recourse available. Companies which elect to operate as vendors in this market must have top-grade security if they intend to hold value on behalf of a client. If they do not, they shouldn't be operating at all, and should be held at least partially liable for otherwise preventable incursions." For more information please visit our website at: www.avraglobal.com . About Avra, Inc. ( OTCQB : AVRN ) Avra, Inc. is focused on solutions in the digital currency markets, particularly in offering payment solutions to businesses worldwide. The Company's business model is divided into five distinct categories: AvraPay: to develop a complete, turn-key and painless way for merchants to accept Bitcoin as Payment; AvraATM: to promote usage and acceptance of digital currencies through the Company's proposed network of ATMs; AvraTourism: to provide cryptocurrency payment processing solutions for merchants such as hotels and casinos; AvraNews: to provide a news portal focusing on digital currency news, and the latest addition; AvraSecure, offering subscription based critical security solutions to digital currency vendors. For more information about the Company please visit: www.avraglobal.com . Additional information regarding Avra, Inc. and its filings can be found at www.sec.gov . Forward Looking Statements Some information in this document constitutes forward-looking statements or statements which may be deemed or construed to be forward-looking statements, such as the closing of the share exchange agreement. The words "plan", "forecast", "anticipates", "estimate", "project", "intend", "expect", "should", "believe", and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve, and are subject to known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance (financial or operating) or achievements to differ from the future results, performance (financial or operating) or achievements expressed or implied by such forward-looking statements. The risks, uncertainties and other factors are more fully discussed in the Company's filings with the U.S. Securities and Exchange Commission. All forward-looking statements attributable to Avra Inc., herein are expressly qualified in their entirety by the above-mentioned cautionary statement. Avra Inc., disclaims any obligation to update forward-looking statements contained in this estimate, except as may be required by law. || New York regulator issues final virtual currency rules: By Karen Freifeld and Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - New York state issued on Wednesday extensive new rules for companies that operate in virtual currencies such as bitcoin but did little to accommodate complaints that overly tight regulation could hamper the nascent industry. The new rules, the first by a state, create comprehensive guidelines for regulating digital currency firms, according to the state's Department of Financial Services, which developed the regulations. It means that digital currency companies operating in New York state that hold customer funds and exchange virtual currencies for dollars or other currencies are required to apply for what is known as a state "BitLicense." "There is a basic bargain that when a financial company is entrusted with safeguarding customer funds and receives a licence from the state to do so, it accepts the need for heightened regulatory scrutiny to help ensure that a consumer's money does not just disappear into a black hole," Benjamin Lawsky, superintendent of the New York state regulator, said in a speech Wednesday at the BITS Emerging Payments Forum in Washington. The "BitLicense" rules include consumer protection, anti-money laundering and cybersecurity protections. The regulations come as digital currencies have drawn criticism for attracting drug dealers and other criminal elements, whilst failing to safeguarding consumer funds. Last year, bitcoin exchange Mt. Gox collapsed after it claimed to have lost $500 million worth of customer bitcoins after being hacked. Overall, industry participants said New York's new rules are still problematic but nonetheless an improvement over the original proposals laid out in July and revised in December. Digital currency companies are required to obtain prior approval for material changes to their products or business models, such as wallet firms offering exchange services. They would also need approval for new controlling investors. But they would not need approval from the state for every round of venture capital funding or standard software updates. "We have no interest in micro-managing minor app updates. We're not Apple," said Lawsky. Companies that want both a BitLicense and a money transmitter licence can work with the state regulator to have a "one-stop" application submission to cover the requirements for both. Jerry Brito, executive director of non-profit research group Coin Centre, called the final regulations "far from perfect," specifically citing what he said were vague state-level anti-money laundering obligations that go beyond federal regulations. He said the group was working with other states "to ensure they do not repeat the mistakes made here." The rules do not apply to software developers, individual users, customer loyalty programmes, gift cards, currency miners, or merchants accepting bitcoin as payment. Lawsky, meanwhile, has come under fire from the bitcoin community for issuing the rules shortly after announcing he was leaving the agency to set up a consulting company that will advise companies on financial matters that could possibly include digital currencies. The most prominent virtual currency now is bitcoin, often used as an investment or to pay for goods and services online. Bitcoin prices have been steady of late, at $225.77 on the BitStamp platform on Wednesday. The price rose as high as $1,123 in December 2013. "I think (the rules) are going to increase the costs to entry for businesses," said New York attorney Reuben Grinberg, who specialises in virtual currency. "But I think it's going to give consumers greater peace of mind and will end up promoting investment in this area much more so than it hurts." (Reporting by Gertrude Chavez-Dreyfuss and Karen Freifeld; Editing by Chizu Nomiyama and Steve Orlofsky) || Can Overstock.com (OSTK) Surprise This Earnings Season? - Analyst Blog: Overstock.com Inc.OSTK is slated to report first-quarter 2015 results after the closing bell on Apr 27. Last quarter, the company posted a negative earnings surprise of 76.00%. Let's see how things are shaping up for this announcement.
Factors to Consider
Overstock’s fourth-quarter 2014 earnings of 6 cents missed the Zacks Consensus Estimate of 25 cents. Revenues of $470 million, however, beat the consensus mark of $452 million.
On a positive note, Overstock, which became the first large retailer to accept bitcoin in Jan 2014 is likely to benefit from the bitcoin-friendly regulatory climate in its home state, Utah. The new bill also proposes that Utah could become a Bitcoin Silicon Valley.
Overstock Club O loyalty program, which costs customers $19.95 a year, comes with free shipping and a generous rewards payout of 5% to 25% on all items purchased. That, along with a new branded credit card, should help boost loyalty to the site and encourage repeat purchases.
Overstock has been accepting bitcoin as payment for a year now. Customers have made $3 million worth of purchases with it so far. Recently, there were reports that it is planning to offer its employees the option of being paid in bitcoin.
With a strong business model and a growing customer base, Overstock should benefit from the shifting demand to purchase gifts and other items online.
Earnings Whispers?
Our proven model does not conclusively show that Overstock will beat earnings estimates this quarter. That is because a stock needs to have both a positive Earnings ESP and a Zacks Ranks #1, 2 or 3 for this to happen. That is not the case here as you will see below.
Zacks ESP:Both the Most Accurate estimate and the Zacks Consensus Estimate stand at 20 cents. Hence, the difference is 0.00%.
Zacks Rank:Overstock currently carries a Zacks Rank #3 (Hold). Though Zacks Rank #1, 2 or 3 increases the predictive power of ESP, the company’s ESP of 0.00% makes surprise prediction difficult.
We caution against stocks with Zacks Rank #4 and 5 (Sell-rated stocks) going into the earnings announcement, especially when the company is seeing negative estimate revisions.
Other Stocks to Consider
Here are some other companies, which you may consider as our model shows that they have the right combination of elements to post an earnings beat this quarter:
Groupon, Inc. GRPN has an Earnings ESP of +50.00% and a Zacks Rank #1 (Strong Buy)Cognex Corp. CGNX with Earnings ESP of +4.35% and a Zacks Rank #1Apple Inc. AAPL has an Earnings ESP of +1.38% and a Zacks Rank #2 (Buy)Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportOVERSTOCK.COM (OSTK): Free Stock Analysis ReportAPPLE INC (AAPL): Free Stock Analysis ReportCOGNEX CORP (CGNX): Free Stock Analysis ReportGROUPON INC (GRPN): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research
[Random Sample of Social Media Buzz (last 60 days)]
current #bitcoin price (okcoin) is $218.41, last changed Mon, 27 Apr 2015 01:43:00 GMT. queried at: 01:43:00 || The current bitcoin price (USD) at Wed, 08 Apr 2015 15:07:26 GMT according to bitstamp is: 247.00 || #RDD / #BTC on the exchanges:
Cryptsy: 0.00000006
Bittrex: 0.00000006
Average $1.4E-5 per #reddcoin
10:00:02 || $235.79 at 22:30 UTC [24h Range: $233.00 - $239.42 Volume: 4184 BTC] || @jibhatman, @Beautyon_ has just sent you a bitcoin tip for 4,017 bits ($1.00)! Pick it up here ➔ http://changetip.com/c/wCTE?m=12 || BTC: $232.00, S: $15.82, G: $1187.34 | Act: 24,302 Open: 3469 BTC: 54,999.2 | Total: $12,770,211 http://goo.gl/U94Tki #bitcoin || In the last 10 mins, there were arb opps spanning 19 exchange pair(s), yielding profits ranging between $0.00 and $841.11 #bitcoin #btc || #RDD / #BTC on the exchanges:
Cryptsy: 0.00000005
Bittrex: 0.00000006
Average $1.2E-5 per #reddcoin
00:45:02 || Bitcoin traded at $237.68 USD on BTC-e at 06:00 PM Pacific Time || LIVE: Profit = $236.05 (6.27 %). BUY B17.22 @ $218.00 (#BTCe). SELL @ $219.61 (#HitBTC) #bitcoin #btc - http://www.projectcoin.org
|
Trend: up || Prices: 222.88, 228.49, 229.05, 228.80, 229.71, 229.98, 232.40, 233.54, 236.82, 250.90
|
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 2018-10-24]
BTC Price: 6495.84, BTC RSI: 49.00
Gold Price: 1227.80, Gold RSI: 59.57
Oil Price: 66.82, Oil RSI: 34.16
[Random Sample of News (last 60 days)]
Ford Hit, Agriculture Payouts, German Vulnerability: CEO Daily for September 27, 2018: Good morning.
President Donald Trump may think trade is bad, but he doesn’t seem to be convincing many Americans. A new report from my friends at the Pew Research Center says American attitudes toward trade have become more favorable in the last four years. The share of Americans who say growing trade ties between the U.S. and the world are “bad for the U.S.” has declined to 21% this year from 28% in 2014. And those who believe trade leads to job losses is down to 34% this year from 50% in 2014.
But Americans are still more anti-trade than most of the rest of the world. Take a look at the share of people from the following countries who think “trade is good”:
Sweden. 93%Canada. 89%Germany. 89%France. 83%Mexico. 79%U.S. 74%Japan. 72%Italy. 64%
In the U.S., anti-trade views tend to rise with age, decline with education, and remain stronger among Democrats than Republicans.
You can read the full reporthere. More news below. And be sure to readJeff John Roberts’s reporton how Bitcoin-boom startup Coinbase plans to take on Wall Street.
Ford Hit
Ford CEO James Hackett said yesterday that the Trump administration’s steel and aluminum tariffs have cost his firm around $1 billion in profits. “If it goes on any longer, it will do more damage,” he added. Honda has also taken a hit to the tune of “hundreds of millions dollars” and is now considering higher vehicle prices in the U.S. as a result, said that company’s EVP for North America, Rick Schostek.Reuters
Agriculture Payouts
The Department of Agriculture has started making payments to farmers to offset the effects of President Trump’s tariffs, but many farmers say it isn’t enough money. The farmers are hit by retaliatory tariffs or straight order cancellations from countries such as China, that have been affected by U.S. tariffs on their imports. “This payment isn’t going to save anybody’s life,” said Iowa pork producer Mike Paustian. “It’ll soften the blow a little bit.”Wall Street Journal
German Vulnerability
Germany and the EU could plunge into recession if their trade disputes with the U.S. escalate, five leading German economic institutes have warned. “Any escalation of the trade conflict, leading to considerable tariff increases by the U.S. on a broad front, is likely to trigger a severe recession in Germany and Europe,” they wrote.Handelsblatt
Interest Rates
The president is again unhappy with the Federal Reserve for raising interest rates. The Fed raised rates for the third time this year. “Unfortunately, they just raised interest rates a little bit because we are doing so well. I’m not happy about that,” said Trump. Except he is happy for savers, who will benefit from the hike. “The people that did it right…got hurt the most [by post-2008 low rates,] so in one sense I like it, but basically I’m a low-interest-rate person,” he said.Fox Business
Papa John’s
Papa John’s is reportedly looking for a buyer, after one heck of a tough year. The news sent the pizza chain’s stock up 9%. Founder John Schnatter, who was booted after making racially-charged remarks during a media training session and is now trying to regain control of the firm, still owns around 30% of the company’s stock.Fortune.
Amazon Store
Amazon has opened a physical store in New York that only stocks items that have received at least four-star review averages on the ecommerce platform—well, almost only, as it also stocks new and “trending” products, and bestsellers. Only Amazon Prime members will get to buy items at the Amazon.com price, otherwise they’ll need to pay list price.The Verge
Air France
The new CEO of Air France-KLM has warned unions that the French government will not bail out the troubled airline. The appointment of Benjamin Smith, a Canadian, was not popular with the unions that brought down his predecessor, Jean-Marc Janaillac, over a long-running pay dispute. Smith: “Whether you are Anglo Saxon or not Anglo Saxon…there is a reality…and a lot of other areas that the government needs to spend its money on…It’s not as if this airline is being attacked in a disproportionate or unjust way, it just has a competitive model that doesn’t work.”Financial Times
Argentina Bailout
The IMF has boosted its bailout of Argentina by an extra $19 billion, taking it to a total of $57.4 billion by the end of 2021. The Argentine peso has halved in value against the dollar this year, and was sent tumbling further by the shock resignation this week of central bank governor Luis Caputo.CNBC
This edition of CEO Daily was edited byDavid Meyer. Findprevious editions here, andsign up for other Fortune newsletters here. || Bitcoin Trading Volumes in Hyperinflation-Struck Venezuela Hits Record Highs: As the economic crisis inVenezuelaworsens leading to a growing exodus of citizens out of the country, the demand for bitcoin and other cryptocurrencies has exploded.
According to Coin Dance, Venezuelans traded bitcoins worth nearly 300 million bolivars last week and the record could be broken again as so far this weekbitcoinworth more than 292 million bolivars has already been traded. This is in continuation of a trend on the BTC/VES pair that began earlier in the year.
The worsening economic conditions have resulted in reports of Venezuelans fleeing the country in large numbers on foot and by bus after finding life intolerable in the socialist country. Per statistics from the International Organization for Migration, since 2015 around 1.6 million have fled and the number is still rising. Most of them have fled to other South American countries such as Colombia, Peru,Braziland Argentina.
Besides an increase in demand for bitcoins as a hedge against the high inflationary conditions in the country, part of the reason for the record trading volumes in the BTC/VES pair has to do with the devaluation of the currency a few weeks ago. On August 10,five zeros were stripped off from the country’s currencyafter inflation levels that had risen to stratospheric levels, as CCN reported. However, this seems not to have solved matters as already the inflation rate is estimated to have reached a 100% even though the ‘new’ Venezuelan currency is less than two months old,perBloomberg.
Other than devaluing the currency by 95% and renaming it the sovereign bolivar, Venezuelan president Nicolas Maduro also announced that the bolivar would be pegged to the Petro cryptocurrency which was unveiled earlier in the year. This was in the hopes of circumventing sanctions and gaining access to international finance besides bringing the persistent hyperinflation under control.
Adoption of the petro cryptocurrency has, however, been low amidstwide skepticismwith some questioning whether it exists at all. Despite this the government has soldiered on making efforts to boost the cryptocurrency by, for instance, decreeing that it would be the official currency of Petróleos de Venezuela, S.A. (PDVSA), the state oil company. Maduro has also pushed for the Petro to become the second unit of account, as CCN reported in late August.
“As of next Monday, Venezuela will have a second accounting unit based on the price, the value of the petro,” Maduro remarked on national television. “It will be a second accounting unit of the Republic and will begin operations as a mandatory accounting unit of our PDVSA oil industry.”
Featured image from Shutterstock.
The postBitcoin Trading Volumes in Hyperinflation-Struck Venezuela Hits Record Highsappeared first onCCN. || Crypto Market Cap to Hit $80 Trillion in 15 Years: Bitcoin Bull Tim Draper: Bitcoin bullTim Draperhas predicted that the market capitalization of cryptocurrencies will increase by four hundred times in the coming one and a half decades.
Equating the current state of the crypto market to the early days of the internet, Draper, however, warned that the prices of bitcoin and other cryptocurrencies will first have to drop before rising. The billionaire tech investor was addressing a DEALSTREETASIA-sponsored private equity and venture capital summit in Singapore via video link.
“The internet started in the same way, it came in big waves and then it kind of came crashing down, and then the next wave comes concentrated but much bigger, and I suspect the same thing will go on here,”saidDraper.
According to Deal Street Asia, Draper also stated that the reason why the price of bitcoin and other cryptocurrencies had fallen drastically since the record highs reached last year was due to ignorance. As people get accustomed to them, according to Draper, various billion dollar industries across the globe stand to be transformed. There will, however, be one big difference between the disruption caused by the internet and the one expected to be brought about byblockchain technologyand cryptocurrencies:
“The internet went after industries that were $10-100 billion dollar markets, cryptocurrency will go after trillion dollar markets – these are finance, healthcare and insurance, banking and investment banking, and governments.”
This was not Draper’s first time to claim that cryptocurrencies and the blockchain technology possess more revolutionary potential than the internet. Earlier in the year, Californian stated that this transformative potential would be bigger than the industrial revolution, the Renaissance and the Iron Age. In March Draper also stated that fiat currencies will have been wiped out in half a decade and only cryptocurrencies will be in use.
Additionally, this is not the first time that Draper is making bold declarations regarding bitcoin and other cryptocurrencies. Five months ago, Draper predicted that theprice of bitcoin would reach US$250,000 by 2022. And in 2015 the venture capitalist projected that the price of the flagship cryptocurrency would reach US$10,000 by the close of 2017, a prediction that came to pass.
To his credit, Draper has backed his bullish views with cold hard cash. At an auction in 2014, for instance, he paid US$18 million for30,000 bitcoinswhich had been confiscated by the U.S. Marshalls. At current market prices that translates to a profit of more than $170 million.
Featured image from Flickr/Collision Conf.
The postCrypto Market Cap to Hit $80 Trillion in 15 Years: Bitcoin Bull Tim Draperappeared first onCCN. || Forget Tilray, These 2 Biotech Stocks Have Far More Upside: Canada'sTilray(NASDAQ: TLRY), a marijuana cultivator and distributor, has given early investors the ride of their lives since going public last June. Last week, for instance, the company's stock peaked at exactly $300 per share, representing a jaw-dropping 856% gain for the brave souls that bought this speculative IPO right off the bat.
Even though Tilray's shares have pulled back in a big way since reaching this gravity-defying peak a few days ago, the pot grower's valuation remainswildly disconnectedfrom its near-term growth prospects. Put simply, growth investors should probably start to look elsewhere for more compelling opportunities moving forward.
Image source: Getty Images.
Amarin Corporation(NASDAQ: AMRN)andViking Therapeutics(NASDAQ: VKTX), for example, are two biotech stocks that offer considerably more upside potential than Tilray does right now. Read on to find out more.
Yesterday, Amarinreportedthat its highly refined fish oil pill Vascepa provided a significant cardiovascular benefit in patients with elevated triglyceride levels, despite being on statin therapy. Leading up to this top-line data readout, however, almost no one outside the company thought that Vascepa had a realistic shot at producing such a pronounced clinical benefit in this landmark cardiovascular outcomes trial. As a result, the biotech's shares more than tripled in value during yesterday's session.
Wall Street, though, thinks Amarin is still incredibly undervalued. Citi's analysts, for instance, immediately came out with a staggering upgrade, suggesting that the stock could hit $50 a share over the next 12 months. That price target implies a whopping 300% upside potential from current levels. Citi's awe-inspiring price target is arguably well-founded, however.
In short, Vascepa's sales are now forecast to reach a noteworthy $2.7 billion at peak -- that is, if the Food and Drug Administration agrees to grant a label expansion for this far larger target market that presently stands at around 70 million eligible patients in just the United States. A $50 price target, therefore, isn't exactly a blue-sky prediction. But one that may prove to be rather conservative when everything is said and done. Amarin, after all, is probably going to start fielding tender offers from a host of suitors soon.
Like Amarin, Viking also reported major clinical trial news this month, sending its shares soaring as well. Specifically, the drugmakerreported outstanding mid-stage resultsfor its fatty liver disease candidate, VK2809, earlier this month -- catapulting the company into the upper tier of contenders vying to be the first to market for a severe form of fatty liver disease known as nonalcoholic steatohepatitis (NASH). Although Viking is far from alone in the race to break into this potentially $35 billion a year marketplace, VK2809 stands out from the crowd for a couple of reasons.
First off, the drug was able to dramatically lower liver fat content across all doses after a mere 12 weeks. Viking also reported that VK2809 was well tolerated, with no serious adverse events occurring during the trial. The take home point is that VK2809 has a real shot at claiming the best-in-class prize in a rather crowded field.
The catch is that Viking may not be ready to push VK2809 into a pivotal-stage trial right now. Instead, the company is floating the idea of commencing a combined Phase 2/3 trial in order to assess the drug on a NASH approvable endpoint. That could put Viking another year or so behind the leaders in the field.
Even so, Viking should still be able to grab a nice chunk of this vast market with one of the most potent and safest options in its arsenal -- even if VK2809 ends up being the third or fourth drug approved. And that's the core reason why the Street's current 12-month price target on this stock implies a handsome 65% upside potential from here.
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George Budwellowns shares of Viking Therapeutics. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy. || Bitcoin Gains Traction as Morgan Stanley Prepares Bitcoin Swap Trading: Investing.com - Bitcoin rallied on Thursday amid news that financial giant Morgan Stanley (NYSE:MS) is preparing a bitcoin derivatives scheme for clients.
Bitcoin rallied 3.44% to $6,479.00 on the Bitfinex exchange as of 8:04 AM ET (12:04 GMT).
The U.S. bank will deal crypto contracts, which allow investors to bet on the price of bitcoin without actually owning any,Bloomberg reported. Clients can go long or short and Morgan Stanley will charge a spread for the transactions.
It’s the latest Wall Street firm to find a way for clients to invest in the digital currency market. Citigroup (NYSE:C) is exploring digital asset receipts for trading virtual coins, while Goldman Sachs (NYSE:GS) is considering derivatives on bitcoin and a plan to offer custody for alternative coin assets.
Cryptocurrencies overall were higher, with the coin market cap of total market capitalization at $197 billion at the time of writing compared to $187 billion on Thursday.
Ethereum,or Ether, the second-biggest alternative currency by market cap, rose 13.08% to $196.42, after falling to a one-year low of $169.44 on Wednesday. XRP, the third-largest virtual currency, increased 5.75% to $0.27459 and Litecoin was at $53.764, up 11.10%.
In other news, the U.S. Financial Industry Regulatory Authority took its first disciplinary step involving cryptocurrencies, charging a broker with fraud and unlawful distribution of digital securities. On Tuesday the agency “filed a complaint against Timothy Tilton Ayre of Agawam, Massachusetts, charging him with securities fraud and the unlawful distribution of an unregistered cryptocurrency security called Hempcoin.”
The news comes after aNew York federal rule judge that a fraud case involving virtual coinscan go forward under U.S. securities laws.
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Morgan Stanley Plans to Offer Bitcoin Swap Trading for Clients || Big Brokers, a Bigger Circle, and MakerDAO’s Round: This Week in Crypto: Make sure you check out our previous editionhere, now let’s go over what happened in crypto this week. Also, make sure you subscribe for this week’s edition ofThe CCN PodcastoniTunes,TuneIn,Stitcher,Google Play Music,Spotify,Soundcloud,YouTubeorwhereveryou get your podcasts.
• Bitcoin is down 2% to $6,333this week after hitting $6,700 last week. The price varied minimally this week as compared to last weeks dramatic price movements. This included rapid oscillations between$6,300 and $6,400and the price hiting$6,600 leveland the$6,200 levelwithin days of each other. This week saw much less variability.
• Ethereum is down 10% this weekreversing the 10% gain madelast week. The gains of last week may be an anomaly with preceding week having a drop of31% last week, 5% the week before and drops of11%and24%in the preceding weeks with single and double-digit drops going back months. The recent drops have continued to be blamed onICO sell offs. Further contributing to the price drops this week was the fact that UTRUST haspartnered with the Ethereum Classic dev team in order to integrate ETC.
• The Coin Market Capitalization was Flat last weekowing to minimal changes by Bitcoin and with the losses of Ethereum being made up for bysurging Stellar prices.
• Thailand’s Kasikornbank to Pilot Visa’s Blockchain Cross-Border Payments Platform–Kasikornbank, the biggest bank by market capitalization in Thailand is joining the Visa B2B Connect platform. Designed to enable fast and secure cross-border payments between businesses using blockchain technology, the platform relies on a permission private blockchain architecture which is operated by global financial services firm, Visa Inc.
• Brazil’s Biggest Brokerage Plans to Legally Processes Bitcoin Trades– Grupo XP, the largest independent brokerage in Brazil, has publicly released itsplansto launch a Bitcoin and Ethereum trading platform by the end of 2018. The move comes after aninvestigationby the government of Brazil and its antitrust watchdog have launched a formal investigation into banks and major financial institutions in the country after receiving complaints that crypto exchanges received subpar financial services from local banks.
• Dubai Upgrades Payment Portal DubaiPay with Blockchain technology–Developed in collaboration with Dubai’s Department of Finance (DoF), the Smart Dubai Office (SDO) launched the system aimed at enabling reconciliation and settlement transactions in real-time. on Sunday with apress releaselabeling it a “blockchain-powered upgrade to its financial system”.
• India’s Supreme Court to Listen Final Arguments on Central Bank vs Bitcoin Case-The Supreme Court of India is set to hear the final arguments on the petition against the Bitcoin banking ban on Tuesday,reportedlocal media.
• Gemini Eyes UK Expansion– TheFinancial Timesreports that Gemini has hired advisors regarding a move into Britain and may soon submit an application to the U.K. Financial Conduct Authority (FCA) for regulatory authorization to open an exchange in the country under the agency’s e-money licensing program. The move comes after a recent announcement of theGemini dollarcould mark a swipe at Coinbase, as the exchange ereceivedsuch an e-money license from the FCA, authorizing it to provide payment and electronic money services to customers in the U.K. and 23 other European Union countries.
• Crypto Giant Circle Lists EOS, Stellar, 0x and Qtum– Circle has announced in ablog postthe addition of four new digital assets to the Circle Invest platform, bringing the total number of listed cryptocurrencies on the platform to 11. According to Circle’s blog post, the four crypto assets were chosen for listing based on their suitability, which was determined by theCircle Asset Framework. SincereleasingCircle Invest in March, the platform has aggressively courted increased market share, listingZcashandMoneroin May.
• $230 Million: Mt. Gox Trustee Confirms Past Bitcoin Sell-Off– According to a document published on the Mt. Gox website, Nobuaki Kobayashi, the exchange operator’s trustee, sold approximately 24,658 BTC and 25,331 BCH between the last creditor’s meeting on March 7 and the June 22court rulingallowing the estate to exit bankruptcy and enter civil rehabilitation. Some have questioned wether this sell off has caused thebear market.
• Google Unbans Crypto Ads– Google, the $828 billion search engine behemoth, hasunbannedcrypto-related ads, allowing regulated companies to utilize its platform to advertise their products.
• Brave Browser Hits 4 Million Monthly Active Users– Brave, the web browser created by Mozilla founder Brendan Eichand funded through a$36 million ICOhas hit 4 million monthly active users and10 million downloads. The new numbers come after last weeksannouncementof a partnership with blockchain identity startupCivicto allow verified publishers to accept their monthly BAT payments in an external Ethereum wallet rather than the default one provided by the browser.
• Vitalik Says Ethereum Can Scale to 500 tx/s Using Zcash Technology– Writing on anETH research forumin a post originally published on Saturday, Buterin said that Ethereum can borrow a technological innovation from privacy-centric cryptocurrencyZcashto “mass-validate” ETH transactions byallowing relaying nodesto “verify the correctness of computations without having to execute them” or “learn what was executed”.
• Bitmain Rival Ebang Launches New Line of Uber-Efficient Bitcoin Miners–China-based Ebang Communication, one of the world’s largest manufacturers of application-specific integrated circuit (ASIC) chips for bitcoin miners, has unveiled the next generation of its flagship product line, complete with an upgraded chip that makes significant strides in energy efficiency.
• Andreessen Horowitz Invests $15 Million in MakerDAO’s Asset-Backed Stablecoin– The American venture capital firm, which has invested in crypto startups like CryptoKitties and OpenBazaar in the past, purchased 6 percent of the total supply of MKR tokens through its$300 million crypto fund, a16z. The fund committed a total of $15 million to theMakerDAOproject and marked their investment as a “strategic purchase.” Holding MKR tokens will offer a16z the rights to govern MakerDAO and the Dai Credit System as it becomes the first decentralized autonomous stablecoin organization.
• Indian Authorities Round up on Bitcoin Scammer’s Properties Worth $60 Million–Indian law enforcement officers have confiscated immovable properties of the owner ofGainBitcoin.com, including six offices in Dubai and the residential apartments and bank balances of two of his associates Hemant Bhope and Pankaj Adlakha, under the provision of Anti Money Laundering (AML) act.
• Japan Slaps Crypto Exchange Operator after $60 Million Theft– Japanese financial authorities are ramping up their scrutiny into the domestic crypto exchange sector after last week’s ¥6.7 billion ($60 million) hack of Tech Bureau’s exchangeZaif.
• Cryptojacking Surged by 86% in the Second Quarter of 2018: McAfee Labs–Accordingto McAfee Labs, cryptocurrency mining malware attacks increased by 86% in the second quarter of this year. While the primary target of cryptocurrency mining malware has remained personal computers, cryptojackers have increasingly turned their attention to devices such as smartphones and other gadgets possessing an internet connection.
Noteworthy:
These are a few pieces that were particularly popular this week.
• Meet The Man Who Tracks Kidnappers and Paramilitaries Using Blockchain–Profile of Ben Strickland, who used blockchain data to track down kidnappers. This article offers a look at the10-30 daily reported casesof sexual extortion which use Bitcoin.
• This Off-Grid, Solar-Powered System Sends Crypto Through Radio Waves– A overview of Burst, a solar-powered blockchain that operates completely off-grid. Burst may be the first project to have performed afully off-grid transaction, opening a use case for cryptocurrency in instances of natural disaster or areas with poor infrastructure.
• Opinion: Is India’s Central Bank Nervous About Supreme Court Allowing Crypto Trading?–In-depth analysis of India’s Central Bank’s motivations surrounding its policies on cryptocurrencies.
• Green Energy Bitcoin Mining Will Have ‘Insignificant Environmental Impact’– An interview with Hass McCook, a civil engineer as well as a Bitcoin researcher and advocate who has done the deepest investigation into Bitcoin’s energy requirements that’s ever been carried out. McCook recently released a39-page reporton energy use in crypto along with aten-part Youtube seriesexplaining his findings.
• Bitcoin Mutual Fund CEO Explains Why Canada is More Blockchain-Friendly than the U.S.–In an exclusive interview with CCN, Sean Clark, CEO ofFirst Block Capital Inc.— the operator of FBC Bitcoin Trust, the first bitcoin mutual fund to trade in Canada — discussed the underlying factors that make Canada a country that is friendly to new technologies such as cryptocurrency.
• Interview: TechCrunch Editor-at-Large Josh Constine Talks Cryptocurrency–Sit down with TechCrunch editor-at-large Josh Constine. Josh is a media heavyweight, having interviewed the likes of Mark Zuckerberg, Edward Snowden, and Cory Booker and having spoken at 120 events on a diverse set of topics.
Featured image from Shutterstock.
The postBig Brokers, a Bigger Circle, and MakerDAO’s Round: This Week in Cryptoappeared first onCCN. || World’s Largest Bitcoin Mining Pool Launches Ethereum Operation: The world’s largest bitcoin mining pool is preparing to expand its horizons.
BTC.com, which produced 21 percent of all newly-mined BTC over the past 12 months and currently accounts for more than 16 percent of the bitcoin hashrate, announced on Thursday that it has opened an ethereum mining pool.
The pool will initially support bothethereumandethereum classic, and users will have the ability to shift between the two Ethash-based cryptocurrencies to enhance profitability.
“Because contracts are charged per line of executed code and miners are rewarded for dedicated hashes using GHOST, Ethereum provides multiple different reward incentives to contribute hash power to the network,” said Zhuang Zhong, director of BTC.com’s mining pool. “We hope to expand Ethereum’s network by relaying those rewards through our FPPS system. By competing to provide the best reward margins along with our product development, we expect mining operations to grow to 12% of ETH total hashrate in the next 12 months.”
BTC.com is one of two mining pools owned byBitmain, the dominant manufacturer of ASIC mining hardware. Earlier this year, Bitmainreleasedthe first ASICs compatible with the Ethash mining algorithm, which previously had been mined primarily with general purpose GPU chips.
The announcement prompted aheated debatewithin the Ethereum community over whether the cryptocurrency should fork to maintain ASIC resistance, but, as of yet, this has not happened.
Notably, BTC.com also said that it is not concerned about Ethereum’s planned transition toCasper, a Proof-of-Stake (PoS) consensus algorithm that will replace its current consensus model, with is secured by the Proof-of-Work-based (PoW) Ethash algorithm.
Commenting on BTC.com’s plans for when Ethereum begins migrating to PoS, Zhuang Zhong said, “it’s still possible to host a mining pool in PoS mode. It will increase the complexity to design such a pool since miners need to deposit ether to the mining pool, but we have a lot of hands-on experience with wallet and Ethereum smart contracts to make a PoS mining pool possible.”
Featured Image from Shutterstock
The postWorld’s Largest Bitcoin Mining Pool Launches Ethereum Operationappeared first onCCN. || Price of Gold Fundamental Weekly Forecast – Dollar Could Strengthen, Gold Weaken After China Cancels Trade Meeting: Gold futures closes marginally higher last week, but remained inside the previous week’s range. This technical chart pattern tends to indicate investor indecision and impending volatility. Creating the indecision is uncertainty over the U.S. Dollar’s expected response to the escalating trade dispute between the United States and China. The only certainty at this time is next week’s widely expected Fed interest rate hike.
Last week,December Comex Goldfutures settled at $1201.30, up $0.20 or +0.02%.
Driving the price action in gold last week was the U.S. Dollar. For most of the week, gold was underpinned by a weaker U.S. Dollar. On Friday, however, gold managed to give back all of its weekly gains when the dollar rebounded to the upside. Driving the U.S. Dollar’s price action was the investor response to fresh tariffs by the U.S. and China.
To recap last week’s key events, the Trump administration announced it would impose a 10 percent tariff on $200 billion worth of Chinese imports. This was actually bearish news for the dollar because the market had priced in a 25 percent tariff. However, the full amount will be applied on January 1 if a new trade deal isn’t made.
China retaliated by announcing levies targeting over 5,000 American products worth $60 billion. The new tariffs are scheduled to go into effect next week. Investors sold the dollar on this news because some thought that China would target the supply chain by preventing the export of strategic minerals and key components for U.S. electronic products.
Essentially, it was the unwinding of long U.S. Dollar hedges that drove gold prices higher. The easing of tensions over the U.S.-China trade dispute encouraged investors to sell the dollar and buy gold.
The trade dispute and the dollar will continue to drive the price action in gold this week. However, this week, the dollar could strengthen and gold could weaken. This is because China called off the trade talks with the United States and said it wouldn’t meet with high level negotiators until after the November mid-term elections.
Also contributing to the movement in gold will be the outcome of this week’s two-day Federal Open Market Committee meeting which culminates with the Fed’s interest rate and monetary policy decision on Wednesday, September 26.
Although the Fed is widely expected to raise its benchmark interest rate during the meeting, gold traders will be primarily focused on the direction the Fed will chart ahead. Traders essentially want to know how aggressive the Fed will be in increasing rates in the future.
The 25-basis point increase to the federal funds rate is already priced into the market. The hike will push the funds target to 2 percent to 2.25 percent, where it last was more than 10 years ago.
Since the rate hike has already been factored into the dollar and gold prices, traders will be paying more attention to any information that shows how much more monetary tightening will be necessary to keep the economy (and inflation) healthy.
Gold could be supported if the Fed appears to be too “dovish” in its assessment of the need for additional rate hikes. In other words if it drops the word “accommodative” from its monetary policy statement.
Thisarticlewas originally posted on FX Empire
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• NAGA Trader Raises the Bar for Social Trading Platforms with New Additions || Bitcoin Cash, Litecoin and Ripple Daily Analysis 03/10/18: Bitcoin Cash Back in the Red Bitcoin Cash fell by 0.38% on Tuesday, partially reversing Mondays 0.84% gain, to end the day at $531.3. A particularly choppy day saw Bitcoin Cash hit an early morning intraday high $554.2 before hitting reverse, Bitcoin Cash breaking through the first major resistance level at $546.8, while falling short of the second major resistance level at $557.9. The sell-off through the morning and afternoon saw Bitcoin Cash fall to an intraday low $521.6, calling on support at the first major support level at $521.8, before recovering to $540 levels only to be hit by a second pullback at the end of the day to $530 levels. At the time of writing, Bitcoin Cash was down 2.59% to $518.6, with Tuesdays late reversal continuing into the early hours of this morning, Bitcoin Cash falling from an early morning high $534, through the first major support level at $517.2, to a morning low $514.9 before steadying. For the day ahead, a move through the morning high to $535 levels would support a run at $540 levels to bring the days first major resistance level at $549.8 into play, while $550 levels will likely remain out of reach in the event of a reversal of the early losses. Failure to move back through the morning high could see Bitcoin Cash take a bigger hit by early afternoon, with a fall through to sub-$510 levels bringing the second major support level at $503.1 into play before any recovery. {alt} Litecoin Hits Reverse Litecoin fell by 1.69% on Monday, following on from Mondays 1.39% loss, to end the day at $59.19, the fall marking a 5 th consecutive day in the red and 9 days in the red out of the last 11. Tracking the broader market, Litecoin rallied to an early morning intraday high $61.3 before a broad based market sell-off hit, the days high coming within range of the first major resistance level at $61.59. The reversal saw Litecoin slide through the days first major support level at $59.01 to a late afternoon intraday low $58.6 before recovering to $59 levels, Litecoin failing to break back through to $60 levels by the days end. Story continues At the time of writing, Litecoin was down 4.1% to $56.77, with Tuesdays sell-off continuing into the early hours, Litecoin falling from a start of a day morning high $59.32 to a morning low $56.62, Litecoin falling through the first major support level at $58.09 and second major support level at $57. For the day ahead, while its looking particularly bearish, a move back through to $58 levels would signal a possible afternoon rebound, any break through to $59 levels likely to bring the days first major resistance level at $60.79 into play, though we can expect plenty of resistance on the way back through $59 to $60 levels. Failure to move back through to $58 levels could see Litecoin take a bigger hit later in the day, with a fall through to $55 levels bringing the days third major support level at $54.3 into play before any recovery, Litecoin unlikely to see sub-$50 levels on the day. {alt} Ripple Slides Again Ripples XRP tumbled by 10.59% on Tuesday, following Mondays 0.69% fall, to end the day at $0.51663. Bucking the trend through the early part of the morning, Ripples XRP failed to join the early cryptomarket rally, Ripples XRP range bound ahead of the broad based market sell-off. Ripples XRP slid through the day to a late in the day intraday low $0.51, the reversal seeing Ripples XRP fall through the first major support level at $0.5374, with no end of day recovery to ease the pain. Ripples XRP lost ground to Ethereum on the day, the market cap gap widening to close to $3bn as a result of the days tumble, investors locking in profits following xRapid going live and in spite of anticipated adoption across the financial sector. At the time of writing, Ripples XRP was down 1.2% to $0.5111, an early morning high $0.53204 falling short of the first major resistance level at $0.5618, before reversing. Ripples XRP slid to a morning low $0.50673, steering clear of the first major support level at $0.4908, before recovering. For the day ahead, a move back through to $0.52 levels would raise the prospects of a recovery, while sentiment across the broader market will need to materially improve for the days first major resistance level at $0.5618 to come into play. Failure to move through to $0.52 levels could see Ripples XRP hit reverse later in the day, a move back through the morning low $0.5111 bringing sub-$0.50 levels and the first major support level at $0.4908 into play. {alt} Buy & Sell Cryptocurrency Instantly This article was originally posted on FX Empire More From FXEMPIRE: Crude Oil Price Forecast crude oil markets settle in at high levels EUR/USD Daily Price Forecast EURUSD Continues to Trade Strongly GBP/JPY Price Forecast British pound falls hard against yen The CNH: Any Chances to Recover? Natural Gas Price Fundamental Daily Forecast Upside Momentum Continues to Build Gold Price Futures (GC) Technical Analysis October 3, 2018 Forecast || Bitcoin – Bulls Need to Make a Move or Pay a Heavy Price: Bitcoin gained 1.23% on Tuesday, reversing Monday’s 0.47% decline, to end the day at $7,357.2.
Recovering from an early morning intraday low $7,246.2. Steering clear of the day’s first major support level at $7,187.47, Bitcoin rallied through late morning and early afternoon to an intraday high $7,415.4.
The rally through to the day high saw Bitcoin break through the day’s first major resistance level at $7,356.47 and back through the 38.2% FIB Retracement Level of $7,376 to hit $7,400 levels for the 2ndtime in 3-days, prior to which was back in the 1stweek of August.
In spite of the breakout from the 38.2% FIB Retracement Level of $7,376, Bitcoin failed to hold on to $7,400 levels with a late in the day broad based market sell-off seeing Bitcoin’s gains for the day reduced, with Bitcoin pulling back through the 38.2% FIB Retracement Level by the day’s end.
With selling pressure evident at the 38.2% FIB Retracement Level, Bitcoin’s failure to hold above $7,376 by the day’s end reaffirmed the extended bearish trend formed at early May’s swing hi $9,999, with a break out from $7,376 needed to support the formation of a bearish trend reversal.
The gains came with the news wires on the friendlier side at the start of the week, with regulator chatter on hold, allowing the Bitcoin bulls to talk up the prospects of a return to bullish form and a run at $20,000 levels by the year-end.
Get Into Cryptocurrency Trading Today
At the time of writing, Bitcoin was up just 0.07% to $7,363.9, with moves through the early morning seeing Bitcoin recover from a start of a day morning low $7,357.2 to a morning high $7,398.7 before easing back, the early moves leaving the day’s major support and resistance levels untested, while resistance at $7,400 proved to be too great in the early hours.
For the day ahead, moving back through the 38.2% FIB Retracement Level of $7,376 would support another run at $7,400 levels to bring the day’s first major resistance level at $7,433 into play, with market sentiment to dictate whether Bitcoin can take a run at $7,500 levels, investors continuing to be on the more cautious side in spite of Bitcoin’s recent weekly gains and hold on to $7,300 levels.
Failure to move back through the 38.2% FIB Retracement Level of $7,376 could see Bitcoin hit reverse, with any fall through 7,340 bringing sub-$7,300 levels and the day’s first major support level at $7,263.8 into play before any recovery.
We would expect Bitcoin to steer clear of sub-$7,300 levels should the news wires remain crypto friendly, with Bitcoin’s relatively minor gains through the early part of the week likely to limit profit taking in the middle part of the week, though investors will wary of what’s to come on the regulatory front, which continues to pin Bitcoin back from $8,000 levels and beyond.
Thisarticlewas originally posted on FX Empire
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[Random Sample of Social Media Buzz (last 60 days)]
#cryptocurrency Price Analysis for #Bitsend #BSD :
Last Hour Change : -4.99 % || 03-10-2018 04:00
Price in #USD : 0.1504385043 || Price in #EUR : 0.1303388671
New Price in #Bitcoin #BTC : 0.00002305 || #Coin Rank 608 || O valor médio das criptomoedas é:
Bitcoin(BTC) R$ 25979,88
Litecoin(LTC) R$ 217,00
Bitcoin Cash(BCH) R$ 1740,44
Ethereum(ETH) R$ 829,72
#bitcoin #litecoin #bitcashcoin #ethereum || 2018/10/17（水）12:00
ビットコインの価格は724,994円だよ
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¿Qué es lo atractivo del Bitcoin?
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#USD : 6.6044
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#GBP : 8.5014
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#BTC
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#Gobaba : 47951.34
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#Koinim : 46398.99
#Paribu : 46140.00
#Koineks : 46400.00
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Trend: down || Prices: 6476.29, 6474.75, 6480.38, 6486.39, 6332.63, 6334.27, 6317.61, 6377.78, 6388.44, 6361.26
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
The pandemic is turning fracking companies into Bitcoin miners: One way to fix Bitcoin's carbon footprint could be to power mines with wasted flare gas. In 2018, t he global cryptocurrency market had crashed , and Sergii Gerasymovych was looking for a way to keep his Bitcoin mining company afloat. He eventually settled on a plan to make money while cleaning up two notoriously climate-polluting industries. Gerasymovych’s biggest headache—as for all Bitcoin miners—was the price of electricity. Bitcoin miners compete against one other to unlock coins by solving increasingly difficult math problems with fleets of computers. This consumes a lot of power globally: about as much as Argentina each year . Bitcoin miners’ profit margin largely relies on the gap between electricity bills and Bitcoin’s value; if the latter drops, the only way to make up the margin is to curb the former. That’s why so much of the world’s cryptocurrency mining is tied to low-cost coal and hydroelectric plants in Asia. Gerasymovych was hunting for ch eap power in the US, and stumbled on an intriguing source: Flare gas from natural gas wells. Now, a number of market trends are converging to propel a nascent industry in gas-powered Bitcoin. McKinsey faces its moment of reckoning Fracking for Bitcoin Oil and gas wells in hydraulically fractured (“fracked”) shale formations produce some waste gas as a byproduct, mostly composed of methane. Since selling this gas is usually unprofitable, it’s typically disposed of by burning it off . Those little flares, from thousands of wells around the world, add up. Gas flaring is responsible for at least 1% of global carbon emissions, and collectively wastes hundreds of millions of dollars worth of natural resources every year. In the US, that has made flaring a target for regulators in gas-producing states like Texas, New Mexico , and North Dakota , which are considering new restrictions on the practice. BlackRock, the asset manager that has stepped up pressure on companies to disclose their climate risks , has called for the “near elimination” of flaring globally by 2025. Anticipating a crackdown, some gas companies are starting to look for their own solutions. One cost-effective way to reduce flaring emissions is to turn the waste gas into electricity with a generator, and use it to power something, like lights or pumps, on the well site. But Gerasymovych realized that crypto miners and gas drillers could both benefit by converting waste gas into cheap power. What better way to reduce emissions than supplying a data center, ravenous for cheap 24/7 electricity, that can be built into a transportable shipping container? Story continues All the “wellness” products Americans love to buy are sold on both Infowars and Goop There was just one problem: Perhaps because of Bitcoin’s tumultuous price swings, gas companies weren’t interested. “People laughed at us,” Gerasymovych said. Then three things changed. First, the pandemic struck, and the price of natural gas cratered ; an industry that was already on shaky financial footing found itself facing an existential crisis as drilling ground to a halt and scores of shale companies went bankrupt . Second, thanks in part to a Feb. 2021 endorsement by Elon Musk , the price of Bitcoin soared. Third, Gerasymovych decided to tweak his business model to sweeten the deal for gas companies. Rather than buy their cheap flare gas to run his own mines, his company, EZ Blockchain, charges a few hundred thousand dollars to install and perform regular maintenance on a Bitcoin mining data center, and lets the gas company reap the Bitcoins itself. In other words, the gas company becomes the miner, and uses its own gas for free. “The market conditions have changed,” Gerasymovych said. “Now, every oil and gas company we reached out to in 2018 is calling us back because they see Bitcoin is making a lot of money.” The rapidly emerging gas-to-crypto industry On Mar. 16 , EZ Blockchain announced that it had finished setting up its latest gas-adjacent Bitcoin mine, at a gas facility near Moab, Utah operated by Wesco Operating Inc., an independent gas company with 500 wells across the US. That marks the fifth mine EZ Blockchain has set up since the pandemic started, Gerasymovych said, with at least two more on the way. Steve Degenfelder, a spokesperson for Wesco, said the company’s leaders first heard about Bitcoin from some young software engineers on the staff. “This was stranded gas that didn’t have a market,” he said. “Now, we’ve eliminated the flaring [from that site], and greatly reduced the emissions. And it doesn’t take electricity off the grid, which is getting to be the controversial issue with data centers and Bitcoin mining.” EZ Blockchain and Wesco aren’t the only companies with the same idea. The Russian state-owned oil company Gazprom is mining Bitcoin with flare gas in Siberia . Denver-based Crusoe Energy provides a similar service as EZ Blockchain, but usually installs the data center for free, pays the gas company for the gas, and keeps the Bitcoins itself. The company has set up 40 gas-powered mines in the US the last few years, said Cully Cavness, its president, and hopes to hit 100 by the end of 2021. Its clients include the European multinational oil major Equinor. “We have a significant backlog of projects, for months,” he said. “We’re trying to scale quickly to meet the scale of the problem.” A new incentive for gas drilling? Some digital currency experts remain skeptical that gas-powered Bitcoin mining is really a win for the climate. Alex de Vries, an economist who published a recent paper in the journal Joule about Bitcoin’s massive carbon footprint, said that monetizing flare gas only creates an incentive for more drilling: “You’re making fossil fuel mining more profitable, so you’re not helping,” he said. Alex Trembath, deputy director of the Breakthrough Institute, a clean energy think tank, said that the approach sounds like “an incremental improvement” over unmitigated flaring. But no matter the power source, he said, it’s hard to justify Bitcoin’s enormous energy demand given that it benefits only a relatively tiny group of investors. Flare gas could just as well power carbon capture machines , he said, water desalination plants, or data centers that support more widely used applications, like video streaming or email (Crusoe is planning to open some of its data centers to more general cloud computing uses, Cavness said, and has donated data-crunching space to a group that studies Covid-19 protein folding ). “What they all have in common is that there’s a social value in those things that I don’t see for Bitcoin,” Trembath said. Bitcoin’s bubble could soon burst, one of its founders warned last week; it has happened before . If it does, companies like Wesco will see the profit potential burn off. But with the cheapest power in the crypto mining industry—their own—they could at least come out ahead of other miners. “There is no price for Bitcoin at which they won’t be making money,” Gerasymovych said . “Bitcoin can’t go negative—which, by the way, oil did .” Sign up for the Quartz Daily Brief , our free daily newsletter with the world’s most important and interesting news. More stories from Quartz: How big is the boat stuck in the Suez canal? India is challenging China’s dominance in Africa through healthcare diplomacy || Bitcoin, Tesla, Ethereum: When should you take profits on your biggest investing winners?: From the bottom last March, the S&P 500 went on to have its biggest price gains since 1950, rising nearly 75%. Those gains seem paltry by comparison when looking at a number of individual stocks or cryptocurrencies. Since the market bottomed on March 23, 2020, [hotlink]Tesla[/hotlink] is up nearly 750%. [hotlink]Wayfair[/hotlink] has risen more than 900%. [hotlink]Penn National Gaming[/hotlink] has soared 820%. Bitcoin is up 650%, while Ethereum has surged more than 1,000%. These are extraordinary long-term gains for any investor, but the fact that they have occurred in such a short period of time makes it difficult for investors to figure out what to do next. Do you take profits off the table? Let your winnings rise in hopes of even greater gains in the future? Try to pick the next big winner? Unfortunately, there are no easy answers, because the future is unknowable. Obviously, sitting on huge gains is a good problem to have as an investor, but it can be a problem nonetheless if you dont have a plan in place to guide your actions. In lieu of a crystal ball, here are five questions investors can ask themselves to figure out what to do next after seeing enormous profits in a single holding. Why did I buy it in the first place? This is a question you should ask yourself before buying anything as an investor because it helps define your risk profile and time horizon. However, youre in a much better place to consider this question from the position of big gains than big losses. Some investors prefer to buy and hold come hell or high water. Others prefer to be more tactical in terms of taking profits or selling their losers. Many crypto advocates have decided to buy and hold for more or less forever. Tesla has a similarly strong shareholder base. Theres nothing wrong with this strategy as long as youre willing to put up with bone-crushing volatility on occasion. Others dont have the intestinal fortitude to hold on for all of eternity. If thats the case, you need to have some sort of exit strategy or at least some rules of thumb to guide your actions and help understand when to sell all or some of your shares. Story continues Do I have a better use for this money? CNBCs Jim Cramer recently announced he paid off his mortgage with profits earned from investing in Bitcoin. Is it possible Cramer will be missing out on further crypto profits in the future? Yes, thats certainly possible. But I dont think anyone has ever regretted paying off their mortgage before, regardless of the opportunity cost involved. Some people have a higher risk threshold when it comes to taking on debt. Others cant stand to pay interest and owe someone else money. If you have another financial goal that those profits can help you meet, theres nothing wrong with selling your winners to decrease financial stress in another area of your life. Are there better investment opportunities available? One of the simplest ways to keep yourself honest as an investor is to consider how you would invest your capital if all of your money was sitting in cash today and you had to start all over. Would you still invest in the same asset classes, funds, or companies you own now? What would you do differently? What would remain unchanged? There are tax consequences to your actions if held in a taxable account so you cant actually do this every day in a cost-effective manner, but the idea here is to challenge your own investing ideas to ensure youre looking at your portfolio with a fresh pair of eyes. What does my investment plan say? Theres a huge difference between a portfolio and a plan. A portfolio of stocks, mutual funds, ETFs, or any other investment is simply what you bought. Portfolio management is what comes next, and that requires an investment plan to guide your actions. Portfolio management requires discipline and the foresight to plan your decisions well in advance, regardless of which way the markets go. If youre simply buying stuff you hope will go up in price with no sell discipline or rebalancing rules, eventually you will get caught holding the bag. No one is good enough to buy only investments that go up in a straight line. One alternative to selling everything is instituting a rules-based rebalancing plan. Lets say you bought Tesla last March with 2% of your portfolio. After a 7x return, that position now makes up close to 15% of your portfolio. You could put a ceiling on this position. For example, every time it gets to 10% or more of your portfolio you trim the position by selling some Tesla and buying other pieces of your portfolio that arent performing as strongly. Its also worth noting Tesla shares fell more than 60% before their meteoric rise, so you could also place a floor on the position that forces you to buy anytime it falls to less than 5% of your portfolio. You have to figure out position sizing based on what youre comfortable with, but this is one way to systematically buy lower and sell higher over time. This can be especially beneficial to more volatile investments because youll have more opportunities to buy lower. What would bring me the most regret? Investing itself is a form of regret minimization. Youre forgoing consumption now to give yourself the opportunity to consume something else, hopefully with more money, in the future. Some investors are better than others at holding on for dear life during a crash. Others are better suited for a risk management strategy that reduces volatility, even if that reduction in risk comes in the form of lower expected returns over the long haul. Whatever your disposition, it can pay to figure out what you would regret more after sitting on big gains in your portfolio: (1) Missing out on further gains if you sell too early, or (2) Seeing those gains evaporate if you hold on too long. The key to regret minimization comes from understanding yourself as an investor and which emotions will weigh on you the most. Ben Carlson is the director of institutional asset management at Ritholtz Wealth Management. He may own securities or assets discussed in this piece . This story was originally featured on Fortune.com || EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – April 19th, 2021: EOSfell 6.35% on Sunday. Following on from an 8.49% slide on Saturday, EOS ended the week up by 8.58% to $7.2996.
A bullish start to the day saw EOS rise to an early morning intraday high $7.9496 before hitting reverse.
Falling short of the first major resistance level at $8.5691 slid to an early morning intraday low $5.7984.
The sell-off saw EOS fall through the first major support level at $7.3032 and the second major support level at $6.8203.
EOS also fell through the 23.6% FIB of $6.52 before finding support.
Steering clear of the third major support level at $5.5544, EOS bounced back to end the day at $7.2 levels.
The partial recovery saw EOS break back through the 23.6% FIB and the second major support level.
At the time of writing, EOS was down by 0.42% to $7.2877. A mixed start to the day saw EOS fall to an early morning low $7.0454 before rising to a high $7.5766.
EOS left the major support and resistance levels untested early on.
EOS would need to avoid the $7.0159 pivot level to support a run at the first major resistance level at $8.2333.
Support from the broader market would be needed, however, for EOS to break back through to $8.00 levels.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
In the event of an extended rally, EOS could test resistance at $9.00 before any pullback. The second major resistance level sits at $9.1671.
A fall through the $7.0159 pivot would bring the 23.6% FIB of $6.52 and the first major support level at $6.0821 into play.
Barring another extended sell-off, however, EOS should steer clear of sub-$5.50 levels. The second major support level sits at $4.8647.
First Major Support Level: $6.0821
First Major resistance Level: $8.2333
23.6% FIB Retracement Level: $6.52
38% FIB Retracement Level: $9.68
62% FIB Retracement Level: $14.77
Stellar’s Lumenslid by 7.83% on Sunday. Following on from a 3.03% loss on Saturday, Stellar’s Lumen ended the week down by 6.52% to $0.5460.
A bullish start to the day saw Stellar’s Lumen rise to an early morning intraday high $0.6014 before hitting reverse.
Falling short of the first major resistance level at $0.6275, Stellar’s Lumen slid to an early morning intraday low $0.4590.
Stellar’s Lumen fell through the day’s major support levels and through the 23.6% FIB of $0.5342.
Finding support in the afternoon, Stellar’s Lumen bounced back to end the day at $0.54 levels.
The partial recovery saw Stellar’s Lumen break back through the third major support level at $0.5017 and the 23.6% FIB of $0.5342.
At the time of writing, Stellar’s Lumen was up by 0.79% to $0.5503. A mixed start to the day saw Stellar’s Lumen fall to an early morning low $0.5362 before rising to a high $0.5623.
Stellar’s Lumen left the major support and resistance levels untested early on.
Stellar’s Lumen would need to avoid the pivot level at $0.5355 and the 23.6% FIB to bring the first major resistance level at $0.6119 into play.
Support from the broader market would be needed, however, for Stellar’s Lumen break back through to $0.60 levels.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
In the event of an extended rally, Stellar’s Lumen could test resistance at $0.65. The second major resistance level sits at $0.6778.
A fall through the $0.5355 pivot and the 23.6% FIB of $0.5342 would bring the first major support level at $0.4695 into play.
Barring another extended sell-off on the day, Stellar’s Lumen should steer clear of sub-$0.40 levels. the second major support level sits at $0.3931.
First Major Support Level: $0.4695
First Major Resistance Level: $0.6119
23.6% FIB Retracement Level: $0.5342
38% FIB Retracement Level: $0.4373
62% FIB Retracement Level: $0.2808
Tron’s TRXslid by 7.72% on Sunday. Following on from a 3.42% decline from Saturday, Tron’s TRX ended the week up by 17.91% to $0.1435.
A bullish start to the day saw Tron’s TRX rise to an early morning intraday high $0.1577 before hitting reverse.
Falling short of the first major resistance level at $0.1739, Tron’s TRX slid to an early morning intraday low $0.1206.
Tron’s TRX fell through the first major support level at $0.1446 and the second major support level at $0.1338.
The sell-off also saw Tron’s TRX slide through the 23.6% FIB of $0.1426 before finding support.
Through the afternoon, Tron’s TRX broke back through the major support levels and the 23.6% FIB to visit $0.145 levels.
A bearish end to the day, however, saw Tron’s TRX fall back through the first major support level at $0.1446 to end the day at sub-$0.144 levels.
At the time of writing, Tron’s TRX was up by 1.29% to $0.1454. A mixed start to the day saw Tron’s TRX fall to an early morning low $0.1379 before rising to a high $0.1497.
While leaving the major support and resistance levels untested early on, Tron’s TRX briefly fell through the 23.6% FIB.
Tron’s TRX would need to avoid a fall back through the 23.6% FIB and the $0.1406 pivot to bring the first major resistance level at $0.1606 into play.
Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.15 levels.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
In the event of an extended rally Tron’s TRX could test resistance at $0.17 before any pullback. The second major resistance level sits at $0.1777.
A fall back through the 23.6% FIB of $0.1426 and the $0.1406 pivot would bring the first major support level at $0.1235 into play.
Barring an extended sell-off, Tron’s TRX should steer clear of the second major support level at $0.1035. The 38.2% FIB of $0.1167 should limit the downside.
First Major Support Level: $0.1235
First Major Resistance Level: $0.1606
23.6% FIB Retracement Level: $0.1426
38.2% FIB Retracement Level: $0.1167
62% FIB Retracement Level: $0.0748
Please let us know what you think in the comments below
Thanks, Bob
Thisarticlewas originally posted on FX Empire
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• AUD/USD and NZD/USD Fundamental Daily Forecast – Stable Greenback Caps Aussie, Kiwi || EXPLAINER: Capital gains tax hike targets wealthy investors: NEW YORK (AP) — After massive U.S. government spending helped send the stock market back to record heights, with even more potentially on the way, the bill may be coming due for the nation's wealthiest investors. President Joe Biden is proposing to nearly double the tax rate the highest-earning Americans pay on profits made from stocks and other investments. It would force millionaires to pay similar tax rates on their investment gains as upper-middle class households pay on their salaries, after years of enjoying lower rates. It's part of Biden’s efforts to tax wealthy people and corporations to pay for infrastructure investments and programs aimed at helping the broader economy. The most recent proposals, which Biden will detail in a speech before Congress later on Wednesday, focus on lower-income families and children. They include universal preschool for 3 year olds, two years of free community college and the extension of tax cuts for lower- and middle-income families. Even though the possibility of higher capital-gains tax rates has been telegraphed for a long time, reports of its pending unveiling shook up the stock market, with the S&P 500 falling to a nearly 1% loss on Thursday. Stocks have since set more records, but the kneejerk reaction shows how much investors care about potential changes in tax rates. WHAT IS THE CAPITAL GAINS TAX? The capital gains tax must be paid on profits made from an investment, such as a stock or a Bitcoin. But it only takes effect after a sale locks in the gain. So if you bought a share of Tesla at $200 early last year and are sitting on a profit of more than $500, you won’t owe anything unless you sell. If you do sell, and you are one of the highest-earning Americans, current law says you’d pay a 23.8% tax on a $500 profit, or $119. That includes a 20% tax on investments held for more than a year, known as a “long-term capital gains" tax. It also includes an extra 3.8% tax on investments for high earners that’s been around since 2013 to help pay for the Affordable Care Act. Story continues WHAT IS BIDEN LOOKING TO CHANGE? Biden wants to raise the tax rate on long-term capital gains for Americans who make more than $1 million in a year. Their rate would rise to 39.6% from 20%. With the additional 3.8% tax, the highest-earning Americans could be paying a total tax rate of 43.4% on profits from long-term investments. That would be the highest top rate since the 1920s, according to the Tax Foundation, and the proposal could make the rate on investment gains similar to the rate on income made from working. The top tax rate that workers pay on salaries and wages now is 37%. Biden wants to move the top tax rate on work income up to 39.6%, which is where it was before the 2017 tax cuts. One reason tax rates have been lower on long-term capital gains than for regular work is that supporters say it encourages long-term investment and helps the economy. ARE THERE OTHER RELATED CHANGES? Biden is asking Congress to wipe out a preferential tax treatment for private-equity executives and other money managers earning millions of dollars annually, something referred to as “carried interest.” For years they've been paying only 23.8% in federal tax because much of their compensation was treated as a long-term capital gain. The industry says that encourages private-equity firms to take risks as entrepreneurs and to continue investing in companies. Because of it, many wealthy private-equity managers pay a lower rate than what households with married people filing their taxes jointly were paying on income above $171,050. Besides targeting “carried interest,” Biden is also asking Congres for more funding for the IRS so it can be more aggressive in auditing wealthy Americans, among other proposals. HOW BIG A DEAL ARE ALL THE CHANGES? Altogether, the White House says the tax law changes focusing on higher-earning Americans would raise about $1.5 trillion across the decade. That would be in addition to the more than $2 trillion that the White House is looking to raise over the next 15 years from changes to corporate taxes. Besides helping to pay for the programs Biden is proposing, the White House says its proposals for capital gains rates and other changes will eliminate tax laws “that reward wealth over work” and hopefully “rein in the ways that the tax code widens racial disparities in income and wealth.” Republicans in the Senate — where Biden’s Democratic party holds the slimmest of majorities — have already offered resistance to Biden’s proposals for big increases in spending and taxes for the wealthiest households. BUT THE CHANGE IN THE CAPITAL GAINS TAX WOULD HIT VERY, VERY FEW PEOPLE? Only the top 0.3% of taxpayers, or about 500,000 households across the country, would be affected by the proposed rise in long-term capital gains rates, according to Brian Deese, director of the White House National Economic Council. THEN WHY DOES THE MARKET CARE SO MUCH? The wealthiest households are very, very rich, and own a lot of stock. The wealthiest U.S. households are collectively sitting on $1 trillion to $1.5 trillion in gains on stocks that they will have to pay taxes on whenever they sell, according to a Goldman Sachs analysis of data from the Federal Reserve. That's roughly 3% of the entire U.S. stock market's total value. The concerns are that those rich investors will dump their stocks before the rate is increased, and that would-be investors would be discouraged from buying stocks because of the higher rate. ARE THOSE CONCERNS VALID? The last time Washington raised capital-gains tax rates in 2013, the wealthiest households sold 1% of their stock holdings in the three months before the new rate went into effect, Goldman Sachs strategists say. However, the selling was short-lived and the S&P 500 rose 30% for the year. Stocks tend to go up over the long term. So, a sale today would mean an investor would be losing out on all the gains that may be coming in future years. Also, many on Wall Street are expecting Democrats and Republicans to try for a compromise rate that’s lower than 43.4%. ___ Associated Press Writer Josh Boak contributed to this report. || Glancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Renewable Energy Group Inc. (REGI): LOS ANGELES, March 23, 2021 (GLOBE NEWSWIRE) --Glancy Prongay & Murray LLP(“GPM”) reminds investors of the upcomingMay 3, 2021deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Renewable Energy Group, Inc. (“Renewable Energy” or the “Company”) (NASDAQ:REGI) securities betweenMay 3, 2018 and February 25, 2021, inclusive (the “Class Period”).
If you suffered a loss on your Renewable Energy investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information athttps://www.glancylaw.com/cases/renewable-energy-group-inc/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email [email protected] learn more about your rights.
On February 25, 2021, after the market closed, Renewable Energy issued a press release announcing its fourth quarter and full year 2020 financial results. Therein, the Company revealed that it would restate “$38.2 million in cumulative revenue from January 2018 through September 30, 2020” because Renewable Energy was not the “proper claimant for certain BTC payments on biodiesel it sold between January 1, 2017 and September 30, 2020.” Renewable Energy further stated that it had reached an agreement with the Internal Revenue Service “on a $40.5 million assessment, excluding interest” to correct these claims.
On this news, the Company’s share price fell $8.17, or 9.5%, over two consecutive trading sessions to close at $77.77 per share on February 26, 2021, on unusually heavy trading volume.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that due to failures in the diesel additive system, petroleum diesel was not periodically added to certain loads by the Company and was instead added by the Company’s customers; (2) that, as a result, Renewable Energy was not the proper claimant for certain BTC payments on biodiesel it sold between January 1, 2017 and September 30, 2020; (3) that, as a result, Renewable Energy’s revenue and net income were overstated for certain periods; (4) that there was a material weakness in the Company’s internal control over financial reporting related to the purchase and use of the petroleum diesel gallons when blending with biodiesel; and (5) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
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If you purchased or otherwise acquired Renewable Energy securities during the Class Period, you may move the Court no later thanMay 3, 2021to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email [email protected], or visit our website atwww.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
ContactsGlancy Prongay & Murray LLP, Los AngelesCharles Linehan, 310-201-9150 or [email protected] || Why Genesis, BlockFi, Ledn Are Cutting Interest Rates on Large-Scale Bitcoin Deposits: Crypto lending firms including Genesis and BlockFi are cutting the interest rates they pay on large-scale bitcoin deposits, potentially signaling an end to the glorified 4% to 6% levels that have served as a staple of the lucrative market. Behind the cuts in the crypto interest rates, according to industry executives, is shrinking demand from big traders to borrow bitcoin ( BTC ) for easy profit opportunities. There is simply too much bitcoin supply in search of yield, relative to institutional demand. So the bitcoin lenders are protecting their margins by cutting deposit rates. Starting Thursday, Genesis Global Trading, a full-service digital-currency prime broker, plans to refinance bitcoin deposit rates for institutional lenders and deposit-platform partners to a range of 2% to 3.5%, Matthew Ballensweig, lending director at Genesis, told CoinDesk in an email. Genesis is owned by Digital Currency Group, which also owns CoinDesk. Related: In MLB First, Oakland A's Sell a Private Suite for 1 Bitcoin “We’re currently showing rates closer to 3.5% to 5.5%,” Ballensweig wrote. “Inflated rates are not truthful of the underlying market.” Last week, BlockFi, a cryptocurrency firm, lowered rates to an annual percentage yield (APY) of 2%, from 3%, for accounts holding one to 20 BTC. The firm also introduced a new tier for accounts holding 20 BTC and above, paying just 0.5%. “Rates at BlockFi reflect market conditions, which evolve based on a variety of factors, ” Zac Prince, CEO of BlockFi, wrote in an email to CoinDesk. And Ledn , a Canadian cryptocurrency lender, announced March 26 that it will cut interest rates effective April 1 on balances greater than 2 BTC. Related: DOGE Jumps After Tesla's Musk Promises 'Literal' Moonshot “The market can no longer support paying 6% savings rate for all of our clients,” Ledn said in a tweet . According to analysts and industry executives, a key factor leading to lower institutional borrowing of bitcoin is the flip of what is known as the “Grayscale premium” to a discount. Story continues That refers to the difference between bitcoin’s price in spot cryptocurrency markets and the price for BTC as implied by the net asset value (NAV) of the Grayscale Bitcoin Trust (GBTC). (Grayscale is another CoinDesk sister company.) When the Grayscale trust traded at a premium to NAV, hedge funds and other investors could borrow bitcoin and deliver those to the trust in exchange for GBTC shares. After a six-month lockup, the shares could then be sold on the secondary market to retail investors, typically at a premium. Proceeds were then used to pay back the lender for the borrowed BTC at a profit. But based on the current GBTC discount, there’s no longer an incentive on the part of large traders to borrow BTC for the opportunity. Given the industry dislocation, some crypto lenders see an opportunity to pick up market share. “We actually saw record net deposits ($90 million a day) and record loans since BlockFi lowered rates,” Alex Mashinsky, CEO of Celsius Network , a cryptocurrency lending platform, told CoinDesk in an email. “We actually raised a few rates we pay in the past week and plan to raise further if our income continues to rise.” Related Stories Why Genesis, BlockFi, Ledn Are Cutting Interest Rates on Large-Scale Bitcoin Deposits Why Genesis, BlockFi, Ledn Are Cutting Interest Rates on Large-Scale Bitcoin Deposits || Intersect ENT (XENT) Q1 Loss Wider Than Expected, Revenues Top: Intersect ENT Inc. XENT reported first-quarter 2021 adjusted loss per share of 51 cents, wider than the Zacks Consensus Estimate of a loss of 42 cents. However, the bottom line was narrower than the year-ago adjusted loss of 54 cents. The quarter’s adjustments exclude the impact of certain integration costs and others. Meanwhile, without adjustments, GAAP net loss for the first quarter was 61 cents compared with the year-ago loss of 54 cents. Revenues in Detail Reported revenues in the first quarter increased 22.7% year over year to $24.3 million and exceeded the Zacks Consensus Estimate by 4.4%. This year-over-year growth was led by higher PROPEL revenues resulting from the lower impact on demand from the COVID-19 pandemic on elective surgical procedures. The company also generated increased SINUVA revenues from improved access and coverage and a shift in sinus procedures toward ambulatory surgery centers and the office setting of care. Margins Cost of sales was $8.5 million in the reported quarter, up 31.9% year over year. Gross profit rose 18.3% to $15.9 million. Gross margin was 65.3%, reflecting a contraction of 242 basis points (bps) year over year. Selling, general and administrative expenses rose 7.2% to $28.1 million in the quarter under review. Research and development expenses were $6.4 million, up 23.8% year over year. Total operating expenses were $34.4 million in the first quarter, up 9.9% year over year. Intersect ENT, Inc. Price, Consensus and EPS Surprise Intersect ENT, Inc. Price, Consensus and EPS Surprise Intersect ENT, Inc. price-consensus-eps-surprise-chart | Intersect ENT, Inc. Quote The company reported adjusted operating loss of $18.6 million, wider than the year-ago adjusted operating loss of $17.9 million. Cash Position Intersect ENT exited the first quarter of 2021 with cash, cash equivalents and short-term investments of $70.5 million compared with $88 million on a sequential basis. 2021 Guidance Raised Taking into account the ongoing improvement in the pandemic situation, the rebound in elective procedures and gradual reopening of the hospital setting of care plus to leverage its wide portfolio of products, the company has raised its 2021 revenue guidance. Story continues Intersect ENT now expects revenues in the range of $117-$121 million (up from the previously guided range of $116-$120 million). The Zacks Consensus Estimate for revenues is pegged at $118.9 million. Gross margin is expected to be in the low-to-mid 70% range. The company’s 2021 guidance represents the estimated recovery of COVID-impacted elective sinus procedures supported by a substantial rise in the number of individuals getting vaccinated against COVID-19. Our Take Intersect ENT reported mixed results for first-quarter 2021. Revenues improved year over year on increased PROPEL revenues resulting from the reduced impact on demand from the COVID-19 pandemic on elective surgical procedures. The company also generated increased SINUVA revenues from improved access and coverage and a shift in sinus procedures toward ambulatory surgery centers and the office setting of care. The company also registered revenues from the newly-added Global Balloon and Navigation product portfolio. On the flip side, the company reported adjusted net loss wider than expected in the first quarter. The increase in operating costs and contraction in gross margin does not bode well either. Zacks Rank and Key Picks Intersect ENT currently carries a Zacks Rank #4 (Sell). A few better-ranked stocks in the broader medical space are Boston Scientific Corporation BSX, Illumina, Inc. ILMN and HCA Healthcare, Inc. HCA. Boston Scientific reported first-quarter 2021 adjusted EPS of 37 cents, beating the Zacks Consensus Estimate by 23.3%. Net revenues of $2.75 billion outpaced the consensus estimate by 5.3%. It currently carries Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Illumina reported first-quarter 2021 adjusted EPS of $1.89, beating the Zacks Consensus Estimate by 38.9%. Revenues of $1.09 billion outpaced the consensus estimate of $1.08 billion. It currently carries Zacks Rank #2. HCA Healthcare reported first-quarter 2021 adjusted EPS of $4.14, surpassing the Zacks Consensus Estimate by 23.6%. Net revenues of $14 billion exceeded the Zacks Consensus Estimate by 2.2%. It currently carries Zacks Rank #2. 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 >> 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 Illumina, Inc. (ILMN) : Free Stock Analysis Report Boston Scientific Corporation (BSX) : Free Stock Analysis Report HCA Healthcare, Inc. (HCA) : Free Stock Analysis Report Intersect ENT, Inc. (XENT) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research || Bitcoin flirts with all time highs as it heads back over $60,000: The cryptocurrency, which has been up and down over the last few weeks, jumped to more than $61,000 before retreating slightly. It is currently 4.8% higher on the day at $60,820. Photo: Reuters/Benoit Tessier (Benoit Tessier / reuters) Bitcoin ( BTC-USD ) approached all-time highs on Saturday, climbing back above the $60,000 (£43,768) threshold for the first time in almost a month. The cryptocurrency, which has been up and down over the last few weeks, jumped to more than $61,000 before retreating slightly. It is currently 4.8% higher on the day at $60,820. Bitcoin jumped back to $61,000 on Saturday. Chart: Yahoo Finance (Yahoo Finance) It came as Ethereum ( ETH-USD ), the second-largest cryptocurrency in the world by market cap, also hit a record, climbing to $2,190 for the first time in its history. In late February, Bitcoin saw a retreat to as low as $43,000 amid uncertainty in the traditional markets over stimulus expectations and their positive effects on US bond yields. The market value of all bitcoin in circulation hit $1trn for the first time earlier this year, data website CoinMarketCap revealed. In December it also soared past Visa ( V ) to make it the world’s largest financial service. The cryptocurrency has been fuelled over the last 12 months by acceptance from mainstream investors and companies, such as Tesla ( TSLA ) and Mastercard ( MA ). WATCH: What is Bitcoin? In February, Tesla invested $1.5bn in bitcoin, and said it may even start accepting it as payment for its products. The automotive company’s founder Elon Musk also commented that investing in Bitcoin is a “less dumb form of liquidity than cash.” “To be clear, I am not an investor, I am an engineer,” he said on Twitter. I don’t even own any publicly traded stock besides Tesla.” He added: “However, when fiat currency has negative real interest, only a fool wouldn’t look elsewhere. Bitcoin is almost as bs as fiat money. The key word is “almost”. READ MORE: JP Morgan touts institutional bitcoin backing as volatility falls Bitcoin started 2020 at around $7,000 per coin. Despite its rise in the last year, the cryptocurrency remains extremely volatile and experts continue to remain sceptical about using it as an investment. However, a survey published earlier this year showed almost two-thirds of UK investors intend to buy bitcoin in 2021. Story continues The news comes just days ahead of Coinbase’s listing on the Nasdaq ( ^IXIC ). The crypto trading platform is due to list on Wednesday with a valuation that could run in excess of $90bn. Coinbase revealed earlier this week that active users on its platform had surged to 6.1 million from 2.8 million in the fourth quarter of last year, while verified users, those with Coinbase accounts, jumped to 43 million to 56 million. WATCH: What are the risks of investing in cryptocurrency? || Primoris Services (PRIM) Sees Hammer Chart Pattern: Time to Buy?: Primoris Services CorporationPRIM has been struggling lately, but the selling pressure may be coming to an end soon. That is because PRIM recently saw a Hammer Chart Pattern which can signal that the stock is nearing a bottom.
A hammer chart pattern is a popular technical indicator that is used in candlestick charting. The hammer appears when a stock tumbles during the day, but then finds strength at some point in the session to close near or above its opening price. This forms a candlestick that resembles a hammer, and it can suggest that the market has found a low point in the stock, and that better days are ahead.
Plus, earnings estimates have been rising for this company, even despite the sluggish trading lately. In just the past 60 days alone 1 estimate has gone higher, compared to none lower, while the consensus estimate has also moved in the right direction.
Estimates have actually risen so much that the stock now has a Zacks Rank #2 (Buy) suggesting this relatively unloved stock could be due for a breakout soon. This will be especially true if PRIM stock can build momentum from here and find a way to continue higher of off this encouraging trading development. You can seethe complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.
Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.
See 3 crypto-related stocks now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportPrimoris Services Corporation (PRIM) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research || Ndau Takes Center Stage As A Store Of Value Hopeful: Everyone seems to be talking about cryptocurrency these days.Tesla(NASDAQ:TSLA) andPayPal(NASDAQ:PYPL) have made milestone announcements in the past month that are helping to push the industry forward. However, if you were to ask the average person about cryptocurrency, their minds would immediately go to bitcoin. There is a good reason for this as bitcoin is the cryptocurrency with the highest market cap and is the world’s most famous token.
If you step away from the bitcoin hype, however, there are many emerging gems in the cryptocurrency sector and one of these is Ndau, which has recently seen an investment of $1 million fromInvestview(INVU).
All About Ndau
When many of us think of the crypto market, our minds go to the constant volatility and price uncertainty associated with bitcoin and other popular tokens. While this makes for an exciting market to invest in, it makes many cryptos unreliable stores of value.Ndauaims to work around this common problem with its in-built price stabilization mechanisms.
This allows the currency to take advantage of its increased market demand while maintaining a stable price. Ndau operates with a proof-of-stake mechanism and this allows users to earn rewards when they stake their tokens for a given amount of time. These rewards are referred to as Ecosystem Alignment Incentives (EAI) and are paid directly to the user’s wallet app.
Ndau is also integrated with Cosmos Network’s ecosystem of applications. Investview justified the decision to invest in Ndau by claiming that it is not only a reliable store of value but also offers DeFi solutions to the masses, a combination that is not easily found in the crypto market.
‘‘We bought both Bitcoin and ndau, adding it to our treasury balance sheet, because we are confident that both these crypto currencies will provide our company more flexibility to further diversify and maximize returns on our cash.,” saidInvestview (“INVU”) Director of Finance Mario Romano.
The use of Ndau is also in line with Investview’s mission to bring financial education tools to the global stage. By investing in Ndau, Investview intends to bring the token to the global stage along with these tools. Ndau is already seeing an increase in growth, as its value has increased by 100% since November 2020.
A lot of this can be chalked up to its newfound institutional interest which, according to Ciarán Hynes, director of Oneiro the original developer of Ndau, is “largely driven by greater social acceptance along with extraordinary interest from institutions, corporate treasuries, retail investors, and other big investors are warming to cryptocurrencies.”
The next step is to make Ndau more widely available, which is already being done with its listing onBittrexwhere retail investors can try their hands on it. It is expected that both long-term HODLers and more cautious investors will be interested.
By CEO Joseph Cammarata’s account, the token“is viewed by crypto enthusiasts as a calmer, gentler ‘conservative digital currency’ appealing to the masses, one that’s specifically designed to be less volatile when held over the course of many years. It is also a virtual currency that is well suited to being held along with Bitcoin to help smooth out the ride.”
See more from Benzinga
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• Cards, Games, And NFTs: An Interview With Andras Kristof
• PRüF Adopts A New Protocol That Will Allow Token Holders To Stake On Every Node
© 2021 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: 43537.51, 42909.40, 37002.44, 40782.74, 37304.69, 37536.63, 34770.58, 38705.98, 38402.22, 39294.20
|
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 2017-03-13]
BTC Price: 1231.92, BTC RSI: 59.15
Gold Price: 1202.40, Gold RSI: 37.61
Oil Price: 48.40, Oil RSI: 27.15
[Random Sample of News (last 60 days)]
Labor Dept. Seeks 60 Day Delay For New Fiduciary Rule: Washington (Reuters) – The U.S. Labor Department has taken a first step toward possible derailment or dilution of its controversial rule on retirement advice as it begins to re-examine it at the directive of President Donald Trump, according to a notice made public on Wednesday.
The department proposed a 60-day delay of the fiduciary rule, which requires retirement advisers to put the interests of clients ahead of their own. It was slated to take effect on April 10, but Trump asked the department to review the rule one more time for its impact on investors.
Industry analysts and consumer groups agreed it could be the first of multiple delays as the department begins a comprehensive review of the Obama-era regulation, after Trump in February issued an executive order directing the department to review the rule.
‘String Of Delays’ Possible
"A 60-day delay is relatively short to undertake the type of economic and legal analysis that they're contemplating, which suggests to me that this isn't just going to be a 60-day delay, It's likely going to be a string of delays," said Micah Hauptman, with the Consumer Federation of America.
The proposed delay should have a "calming" effect on the marketplace, which had been "hanging in limbo" ahead of the April 10 effective date, said Denise Valentine, a senior analyst with Aite Group, which advises the financial services industry on regulatory issues.
"All along we've kind of known that the rule is very likely to be amended. I don’t think it will be killed," Valentine said.
The public will have 15 days from the publication of the proposed delay in the Federal Register on Thursday to comment on the delay itself before the Labor Department can formalize it. There will also be a 45-day window to submit comments or information related to other aspects of Trump's memorandum.
US Chamber Of Commerce Praises Delay
The U.S. Chamber of Commerce, which has sued to kill the rule, on Wednesday praised the proposed delay.
When former President Barack Obama's administration finalized the rule last year, it said it was a move to help Americans saving for their retirement.
But critics in the financial services industry say the rule would limit the ability of advisers to service clients who cannot afford to pay for financial advice and must use products that carry commissions or other indirect costs.
When Trump issued the executive order, White House spokesman Sean Spicer called the rule "a solution in search of the problem" at a briefing ahead of the signing.
The move drew fire from Democrats and other critics, who said it showed the Republican White House was aligned with Wall Street, not middle-income Americans.
Industry groups, however, praised the delay proposed on Wednesday. The Securities Industry and Financial Markets Association said it would "allow the new administration an opportunity to review the rule’s impact on investors and the market."
UBS Wealth Management Americas, Morgan Stanley and Wells Fargo declined to comment. Bank of America did not immediately respond to a request for comment.
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Permalink| © Copyright 2017ETF.com.All rights reserved || Trump's trade-war mongering is starting to rattle Wall Street: President Donald Trump made international trade, and his skepticism thereof, a centerpiece of his campaign. Yet Wall Street, ever hopeful, saw those promises as bluster , choosing instead to focus on Trump's talk of corporate tax cuts and widespread deregulation. Now that Trump is in power, markets are starting to realize he has a lot more leeway to enact his trade agenda unilaterally than he does to act on the tax and regulatory fronts, where legislators and the judiciary will have a much greater say. trade laws (Peterson Institute for International Economics) That's causing some economists to question the wisdom of the recent run-up in stocks, which were specifically catapulted higher by bank shares rallying on the hopes of a swift erasure of the postcrisis Dodd-Frank rules. "Given President Trump's long-held views that the US has been losing out on foreign trade, the likelihood and consequences of a trade war are Top of Mind," Goldman Sachs economists wrote in a research note. "US action on China's currency policy and unilateral, targeted tariffs are likely, and China would respond proportionately." Trump has hired several ex-Goldman bankers as his top economic advisers. A look at Trump's key economic appointments more broadly has also put investors on alert for the possibility that the US will raise tariffs on trading partners like Mexico and China, unleashing retaliation with no clear end in sight. "The incoming administration has a protectionist bend," says David Doyle, an equities analyst at Macquarie Capital Markets Canada. Peter Navarro, an economics professor from the University of California at Irvine, has been appointed to lead a newly formed National Trade Council. Navarro "has had an aggressive stance towards China," Doyle says. "For example, two books he has written are entitled 'Death by China' and The Coming China Wars.'" Leaving aside the possible nightmare of an actual war, what would be the cost of a US trade war with major partners? If it escalated into a full-blown crisis, the damage would be difficult to tally. These are some of the proposals Trump made during his campaign. Story continues trump trade (Peterson Institute for International Economics) Economists at the Peterson Institute for International Economics gave it a try ahead of the US elections and found that a trade war would be deeply hurtful to US workers , "plunge the US economy into recession and cost more than 4 million private sector American jobs." Screen Shot 2017 02 13 at 8.44.00 AM (Peterson Institute for International Economics) Harvard economist Kenneth Rogoff offers a stark warning to the Trump administration: "The US cannot win a trade war with China, and any victory will be Pyrrhic. The US needs to negotiate hard with China to protect its friends in Asia and deal with the rogue state of North Korea. And the best way to get the good deals Trump says he seeks is to pursue a more open trade policy with China, not a destructive trade war." NOW WATCH: Here's how to use one of the many apps to buy and trade bitcoin More From Business Insider Bitcoin is zooming higher Trump's push to roll back financial regulation is a 'big mistake' that threatens a new financial crisis DEUTSCHE BANK: Trump could name China a 'currency manipulator' in the coming weeks || Bitcoin dives below $1,000: Bitcoinis back below $1,000. Overnight selling has pushed the cryptocurrency down 1.10%, or $11, to $989 a coin, and below the psychologically important level for the first time since February 3 as sellers remain in control following the decision by some of China's largest exchanges toblock withdrawals.
Last Thursday, following a meeting with the People's Bank of China,HuobiandOK Coinannounced customers would be blocked from withdrawing their bitcoins.
The announcement comes following a wild start to 2017 for bitcoin. It rallied more than 20% in the opening week of the year before crashing 35% on fears China would crack down on trading.
Last week's announcement wasn't the first action China's exchanges have taken this year to curb trading. Earlier, they announced they would begincharging a flat feeof 0.2% per transaction.
(Markets Insider)
NOW WATCH:Here's how to use one of the many apps to buy and trade bitcoin
More From Business Insider
• Bitcoin dropped sharply and suddenly on more news out of China
• Bitcoin is zooming higher
• DEUTSCHE BANK: Trump could name China a 'currency manipulator' in the coming weeks || Bitcoin dropped sharply and suddenly on more news out of China: Bitcoin tumbled by more than 4% in a matter of 15 minutes on Wednesday afterBloomberg reportedthat the People's Bank of China was meeting with several local bitcoin exchanges to discuss money-laundering concerns.
Bitcoin has had a wild start to 2017 after gaining 120% in 2016 to become thetop-performing currencyfor the second year in a row. The cryptocurrency raced to a gain of 20% in the opening days of the year as speculators,mainly from China, poured in.
Bitcoin then crashed 35%, however, on fears thatChina would crack downon trading, bottoming near $750 a coin. Then the cryptocurrency managed to grind higher despite news that China's three largest exchanges said they would implement a flat fee of 0.2% on all transactions.
Bitcoin is now trading down 1.5% at $1,036 a coin. It's up almost 9% for 2017.
(Investing.com)
NOW WATCH:Here's how to use one of the many apps to buy and trade bitcoin
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• Bitcoin is busting out || Is Warren Buffett Wrong About Bitcoin?: - By Nicholas Kitonyi
The future of the cryptocurrency industry is still clouded with doubt sinceWarren Buffett(Trades,Portfolio) has been one of the biggest critics of the market. Bitcoin is, by far, the leading unit in the cryptocurrency market and based on Buffett's comments over time, it is fair to say the legendary investor does not value it at all, let alone imagine a bright future ahead.
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In 2014, just after bitcoin hit an all-time high, Buffett warned investors to stay away from it, saying it was nothing more than a mirage. In response to a question regarding cryptocurrency by Dan Gilbert, the Quicken Loans founder, he said:
"It's a method of transmitting money. It's a very effective way of transmitting money and you can do it anonymously and all that. A check is a way of transmitting money, too. Are checks worth a whole lot of money just because they can transmit money? Are money orders? You can transmit money by money orders. People do it. I hope bitcoin becomes a better way of doing it, but you can replicate it a bunch of different ways and it will be. The idea that it has some huge intrinsic value is just a joke in my view."
When asked about bitcoin's future on CNBC's Squawk Box, Buffett said, "Stay away from it. It's a mirage, basically."
True to his word, bitcoin lost more than 80% of its value within the following year (falling from more than $1,000 a coin in December 2013 to about $200 in January 2015). After a 12-month hiatus in 2015 however, bitcoin has since recovered to rally close to the $1,000 level.
As demonstrated in the chart above, bitcoin's price appears to have picked up momentum over the last 12 months in a trend that took it to above $1,000 at the start of the year. Unlike the previous rally that took the price to an all-time high, this time around the trend has been more stable, with significant trackbacks and rebounds.
In 2013, the price of bitcoin spiked from a trading price of under $250 per unit to more than $1,000 within a couple of months as traders bought bullishly in a frenzy.
Now, based on the current Bitcoin price and its fluctuations over the last three years, it is safe to say the cryptocurrency has stabilized. As such, it looks as though bitcoin can be billed to have succeeded thus far. This is backed by the fact that several other companies, including BitGold and OneCoin, have launched their own types of cryptocurrencies.
This also shows people are putting trust in the infrastructure used by cryptocurrency companies to generate and manage the exchange of such currencies.
Blockchain, the infrastructure that supports bitcoin and several other applications, looks set to continue growing given the success of bitcoin thus far. Therefore, major technology companies likeInternational Business Machines(IBM) andMicrosoft Corp.(MSFT)are looking to capitalizeon the current bullish outlook of this technology and, as per recent reports, some are making huge investments in the market.
Blockchain is a new software technology that allows businesses to work together with trust and transparency. The network allows all parties involved access to an encrypted digital record of transactions that cannot be changed.
The technology can be applied in a variety of industries, especially in the financial sector. As of 2016, the blockchain market was valued at $210 million, but is projected to grow to more than $2 billion within the next five years.
Some of the biggest concerns facing bitcoin are issues regarding the security of transactions and its ability to deal with cases of money laundering. If more industries like the banking sector continue to use the same technology used by bitcoin however, this might work out to be a vote of approval for using bitcoin as a currency.
Nonetheless, this still does not answer Buffett's question on bitcoin. His keynote view was the fact that bitcoin is nothing more than a means of transmitting money, which means it is hard for it to gain intrinsic value over time.
However, when you assess Bitcoin as a currency, then we do know that all currencies have a certain value allocated to them. Paper currencies rely on the economic performance of a given country to gain or lose value. On the other hand, bitcoin is not tied to any individual country, which again raises the question of where the value creation comes from.
It is simple. The U.S. dollar does not strengthen against other currencies because of the strength of the U.S. economy, but rather because of the stability investors believe it possesses. As such, bitcoin traders have been betting on the cryptocurrency market believing it can provide the most stable currency in the future. That is why bitcoin has been rallying over the last 12 months.
Conclusion
In summary, Buffett might be right in the end about bitcoin's valuation being unreal. Given the current advances in the payments market and the growing use of internet banking across the world however, it is clear the cryptocurrency market remains to be a potential disruptor with bitcoin at the center of it all.
Disclosure: I have no position in any stock mentioned in this article.
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• Warning! GuruFocus has detected 4 Warning Sign with IBM. Click here to check it out.
• IBM 15-Year Financial Data
• The intrinsic value of IBM
• Peter Lynch Chart of IBM || Tuesday Hot Reads: Greek Bonds Rally As Bailout Odds Rise: Compiled by ETF.com staff Greek Bonds Rally On Revived Bailout Hopes (ZeroHedge) The yield on Greece's bonds has tumbled the most since June after creditors agreed on Monday to resume talks in Athens over steps needed to continue a bailout of the nation, driving expectations that Greece will be able to meet its deadline for debt redemption by July. 13F Alert: Hedge Funds’ Top Holdings Vs S&P 500 (Barron’s) Evercore ISI’s Dennis DeBusschere put together a list of hedge funds’ holdings with the largest stock weight discrepancies compared to the S&P 500. Basically these stocks are the ones that hedge funds are most over- and under-weighting relative to the index. Value Remains Cheap (BlackRock Blog) BlackRock's Russ Koesterich argues that value is still cheap relative to growth. Vanguard Dominates, But Faces Growing Pains (A Wealth Of Common Sense) Fund juggernaut Vanguard's growth seems unstoppable, but the firm is dealing with customer-service-related growing pains. Brazil ETFs Are Piping Hot: Time To Buy? (Zacks) EWZ is up 100% in one year, and now hopes of new reforms, commodity strength and easing inflationary pressure are perking up Brazil ETFs. Gold Isn't Acting As It Should (Bloomberg Markets) In theory, the metal should be down after three interest rate increases, but the reality is that it's gone up after each one. Don’t Let Uncertainty Lead Clients Astray (Vanguard) Vanguard Chairman and CEO Bill McNabb discusses ways to help clients understand the importance of focusing on the long-term amid uncertainty. The Bitcoin ETF Will Be Rejected According To Prediction Markets (CryptoCoinsNews) The SEC is expected to rule on the first bitcoin ETF by March 11. Recommended Stories Friday Hot Reads: Snapchat Coming To An ETF Near You How To Build A Balanced Portfolio For Today’s Market Thursday Hot Reads: ETFs Causing Market To Spike At End Of Day Feb. ETF Inflows Push 2017's Record Start To $88B Wednesday Hot Reads: Biblically Responsible ETFs Offer A New Twist Permalink | © Copyright 2017 ETF.com. All rights reserved || 10 things you need to know before the opening bell: (A worker inspects a sinkhole that appeared after heavy rain outside a property located near Australian Prime Minister Malcolm Turnbull's residence in Sydney.Reuters/David Gray)
Here is what you need to know.
Tesla is getting ready to start making the Model 3.The electric-car maker announced on Wednesday that it would shut down production at its California plant for a week later this month to get things ready to start producing its Model 3 on February 20, Reuters reports.
Whole Foods misses and slashes guidance.The upscale grocer missed on both the top and bottom lines, earning $0.30 a share on revenue of $4.92 billion. The company slashed its 2017 full-year EPS guidance to at least $1.33 from its previous guess of $1.42.
The DOE is selling 10 million barrels of oil from the Strategic Petroleum Reserve.The sale will take place in late February and is required by a law passed last year, Reuters says. Over the next three years, the Department of Energy is required to sell 25 million barrels.
The PBOC is going after bitcoin.In a statement posted on the People’s Bank of China's website on Thursday, the bank said it told the country's bitcoin exchanges during a meeting held on Wednesday not to take part in financial activities such as margin lending or to allow money laundering. Bitcoin is little changed near $1,066 a coin.
Germany's gold repatriation is ahead of schedule.Germany's central bank has brought back 538 tons of gold from New York and Paris and plans to have half its gold back in Germany in 2017, three years ahead of schedule, according to Reuters.
The Bank of Mexico meets.Mexico's central bank is expected to hike its key interest rate by 50 basis points as it looks to cool inflation tied to a spike in gas prices. The decision will cross the wires at 2 p.m. ET.
Saudi Arabia has picked a legal adviser for the world's biggest IPO.Saudi Arabia will use the international law firm White & Case for the planned IPO of Saudi Aramco, its state-owned oil giant.
Earnings reporting remains heavy.Coca-Cola, CVS, Dunkin', Twitter, and Yum are among the names reporting ahead of the opening bell.
Stock markets around the world trade mixed.Japan's Nikkei (-0.5%) was the laggard in Asia, and France's CAC (+0.6%) is out front in Europe. The S&P 500 is on track to open higher by 0.3% near 2,300.
US economic data remains light.Initial jobless claims will be released at 8:30 a.m. ET. The US 10-year yield is higher by 4 basis points at 2.37%.
***Bonus***
New York City schools are closed.Severe weather conditions have shuttered schools across New York City on Thursday as the area is expected to receive10 to 14 inches of snow accumulation.
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• Trump reportedly called his national security adviser at 3 a.m. to ask if the US wanted a strong or weak dollar || Bitcoin is surging – but that might not mean what you think: Bitcoin(Exchange: BTC=-USS)– the volatile digital currency that is used for a bevy of transaction, investment and value-storing purposes – is hovering around all-time highs, and its value has surged 175 percent in the past year.
But even though bitcoin is rising alongside gold, and it is often seen as an alternative "safe haven asset," this rally may actually be confirming the rally in stocks, rather than presenting a warning sign.
The currency has become more mainstream as additional companies accept bitcoin as a form of payment, Miller Tabak equity strategist Matt Maley said Wednesday on "Trading Nation." According to this thinking, demand for bitcoin will rise as economic activity increases.
Bitcoin was created in 2009 in the midst of the financial crisis as a brand-new currency and payment network, and remains somewhat in the Wild West of currencies, without universal regulation, no central authority and tracked by ledger-like blockchain technology maintained by different firms.
Companiesfrom MicrosofttoSubwayto popular blog platformWordPressnow accept bitcoin as a form of payment.
More recently, Switzerland's financial regulatory authoritygranted a bitcoin firm approvalto operate, Reuters reported, andin late 2016JPMorgan was reported to have been working on its own type of blockchain technology to support bitcoin. Perhaps boosting bitcoin activity, too, is the prospect of bitcoinexchange-traded fund creationand bitcoin storage providers.
In the past, bitcoin rallies have frequently been seen as signs that investors are turning away from conventional assets, and hunting for places to stash their money. But as bitcoin has developed more "mainstream" business uses, Maley argued, it has become more correlated with equities.
A look at bitcoin's performance relative to the S&P 500(INDEX: .SPX)'s over the last five years does not show any particularly close mathematical relationship between the two.
Nobel laureate and economist Joseph Stiglitzsaid in Januaryat the annual World Economic Forum meeting in Davos, Switzerland, that the United States moving toward digital currency would have meaningful benefits like curbing corruption and increasing transparency in global financial markets, two themes from this most recent meeting.
"There are important issues of privacy, cybersecurity, but it would certainly have big advantages," he said.
Bitcoin is not fiat currency, with no backing from a government that issues it, and the space is volatile given its lack of regulation. This month alone, bitcoin has risen 25 percent after dipping nearly 5 percent in January. It has climbed nearly 22,000 percent in five years while the dollar is up 28 percent in the same time period.
"The big fear around bitcoin is just one day when the governments come out and say, 'We're no longer going to allow this,' and we're going to shut it down. But in a world of Armageddon, where the world ends, currencies will go by the way of the countries; bitcoin, like gold, will still have value because of the blockchain-ing that goes on behind it," Dennis Davitt, portfolio manager at Harvest Volatility Management, said Wednesday on "Trading Nation."
The digital currency has a ways to go before becoming a full-on "mainstream" currency, but it's very much a real system of payment, Nicholas Colas, chief market strategist at Convergex, told CNBC on Wednesday. Given bitcoin's volatility, every time investors buy the currency at new highs, "you kind of want to hold your nose," Colas said, given its volatile nature and all the hills and valleys that come along with it.
Mt. Gox, a Tokyo-based digital currency exchange,went bankrupt in 2014after substantial losses in the bitcoin space, sending the value of bitcoin tanking.
— CNBC's Alex Rosenberg contributed reporting. || Symantec CEO: ‘It’s a new theater of war’ for cybercriminals: If you didn’t think the internet was awretched hive of scum and villainybefore, Symantec(SYMC)CEO Greg Clark might just change your mind. Clark, who sat down for an interview with David Pogue at Yahoo Finance’s All Markets Summit, explained how criminals on the internet are not only incredibly active, but are almost always changing where they live online and how they attack.
“It’s a new theater of war. It’s serious business,” Clark said.
To put a finer point on it, Clark explained that about 60% of hostnames on the internet are open for just 24 hours or less, which suggests they might exist solely for criminal activity. Hostnames are used to point to specific sites on the internet. For instance,www.yahoofinance.comis a hostname for Yahoofinance.com. Now, think about the millions of hostnames on the internet at any given moment, and you begin to understand how truly enormous that 60% figure really is.
One of the most nefarious ways in which cybercriminals attack is through email phishing or spear phishing attacks. Phishing attacks come in the form of emails that trick users into downloading malware-infected software or clicking links that take them to malware-infected websites that automatically install malicious code on a person’s computer.
That software can then turn your PC, smartphone or tablet into a zombie device for a botnet army that can be used to flood targeted websites with requests for information until they can keep up and go offline.
Alternatively, phishing and spear phishing attacks can trick users to download ransomware, which can lock down a person’s computer. The criminals will then keep the computer locked down until the victim pays up, usually in the form of Bitcoin.
Both of these kinds of attacks are caused by people unknowingly infecting their own computers. And as Pogue put it, “There is no antivirus program for human stupidity.”
Clark, however, pointed to Symantec’s own Project Dolphin. The system sees Symantec scour the world’s websites to determine if they appear similar to “known phishing” sites. The idea is to identify phishing websites before they actually take off and prevent victims from visiting them by accident.
So there might just be an antivirus for human stupidity after all. Sign me up.
More from Yahoo Finance’s All Markets Summit:
• LARRY FINK: I see a lot of ‘dark shadows’ in the market right now
• The 2017 outlook: Political uncertainty does not equal market uncertainty
• Georgia Senator: CFPB is a ‘rogue agency’
• Arconic CEO under attack: ‘Don’t take it personally, it’s just business’
• How Wells Fargo’s CEO is planning on regaining customers’ trust
Email Daniel [email protected]; follow him on Twitter at@DanielHowley. || The biggest bitcoin news site bought the best bitcoin data app: It was one year ago that Digital Currency Group, the leading investment firm in digital currency startups, bought CoinDesk , the leading trade publication that covers digital currency news. Now CoinDesk is making its own acquisition, its first ever: CoinDesk has bought Lawnmower, for an undisclosed price. Lawnmower first launched in 2015 as a roundup app (a popular format these days for finance-related apps ) for buying bitcoin. You would connect the app to a credit card, and it would round up the spare change on your transactions and use it to buy bitcoin. The purchases were made through a plug-in to Coinbase, the No. 1 US bitcoin wallet . Last summer, Lawnmower shifted its buying model, ditching the roundup structure and instead allowing users to buy bitcoin any time they wish, and to have the app make a monthly purchase of a pre-set amount. We viewed the spare change roundups as more of a limitation, said cofounder and CFO Alex Sunnarborg at the time. If you want a serious investment platform, spare change is going to be inherently low-volume. But the real value of Lawnmower was its data. As the app evolved, its bitcoin price chart got better and better for users: visually clean, easy to adjust, updating in real time. (In my opinion, as a reporter who has covered bitcoin and blockchain since 2011, Lawnmower is the best mobile app for price data, while CoinDesk has the best desktop price charts.) Along the way, Lawnmower added price charts and data for additional digital currencies Ethereum, Ripple, and Litecoin. It also created its own Lawnmower Blockchain Index, a fund with different digital currencies, weighted by market cap. Tracking the performance of Lawnmowers index provided a useful gauge of how these assets were performing overall. Lawnmowers data (on each coins price fluctuation, market cap, total supply, and trading volume) is why CoinDesk came calling. CoinDesk will roll Lawnmowers data into its own desktop site and mobile app, and into its paid research reports, a business it is looking to expand. Pretty much everything CoinDesk is doing is right in our skill set, says Sunnarborg. (Lawnmower had even added news headlines to its app, so a sale to a news outlet makes some sense.) Lawnmower cofounders Pieter Gorsira and Patrick Archambeau will lead CoinDesks engineering team, while Sunnarborg will join CoinDesks research team as an analyst. Story continues Lawnmower mobile app While we were excited about Lawnmowers buy/sell functionality and the traction they had made, we were much more intrigued by the data and market research elements, says Ryan Selkis, who moved over from DCG to run CoinDesks business after DCG acquired it last year. DCG, led by Barry Silbert (who founded SecondMarket in 2004 and sold it to Nasdaq in 2015), has invested in 80 digital currency startups. Lawnmowers app will shut down soon, and CoinDesk will take the data elements, but not the bitcoin-buying functionalityspecifically to avoid any ethical conflicts. Since we did ultimately see a conflict with owning an app that facilitated the purchase of digital currencies, buy/sell functionality will not be included in the new CoinDesk app, says Selkis. Indeed, it would raise ethical red flags if a web site objectively covering bitcoin companies also offered users the ability to buy bitcoin. CoinDesk being owned by a bitcoin startup investment firm also might raise similar alarms, but at the time of purchase, DCG vowed to assemble strict walls between the CoinDesk editorial team and the CoinDesk business side. At the CoinDesk office, there is a literal wall between the editorial team and the business team. I think the divide with the new research department will be about figuring out where the research product makes sense, says Sunnarborg, and what the wall is between a long editorial feature piece, versus a paid research piece. Its exciting stuff but definitely theres a divide we will navigate. Selkis says that while the CoinDesk editorial team will remain strictly separate from the business side, There may be some overlap with the product and research teams, none of which we view as detrimental to our [editorial] team given the removal of buy/sell functionality. Customers with bitcoin balances in Lawnmower will not need to transfer funds over, since all Lawnmower accounts exist through Coinbase accounts. The bitcoin industry has seen a fair amount of consolidation in the past two years, especially among bitcoin exchange sites and particularly among non-US companies. To name a few: last year Kraken, which is US-based but does most of its trading volume in euros, bought New York-based exchange Coinsetter , after Coinsetter had previously bought Canadian exchange Cavirtex . Kraken also bought Dutch exchange CleverCoin . In 2015, Mexican exchange Bitso bought Mexican exchange Unisend . Lawnmower had raised $200,000 in funding from firms including Draper Associates and Boost VC; it wont share how many users it had amassed, but Sunnarborg says that once it shifted its bitcoin-buying model to automatic trading in a set amount, 80% of users chose the automatic trades. What that says to me is this market moves so fast, a lot of people want a passive strategy so that they can just sit back and they dont have to pay such close attention to the ups and downs each week. Its a responsible strategy. In addition, once Lawnmower added price data for additional coins like Ripple and Litecoin, users took to them frequently. That has a lesson for bitcoin media like CoinDesk: I think everyone is realizing they cant just cover bitcoin and blockchain, they also need to cover Ethereum, Ripple, and so on. Its proof that this is an interesting asset class. Daniel Roberts is a writer at Yahoo Finance, covering technology and sports business. Follow him on Twitter at @readDanwrite . Read more: Bitcoin is becoming the new gold Expect more blockchain hype in 2017 Heres where big banks stand on blockchain Why 21.co is the most exciting bitcoin company right now Coinbase is more bullish on bitcoin than ever
[Random Sample of Social Media Buzz (last 60 days)]
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例えば、＄100を投資します。次の日に2%の$2が受け取れます。
これを元本に充てると、元本が$102.2となります。
URLはコチラ→http://bit.ly/2khe3jK || $1032.00 at 01:15 UTC [24h Range: $1004.00 - $1044.23 Volume: 5649 BTC] || $1178.00 at 09:30 UTC [24h Range: $1140.67 - $1206.73 Volume: 9319 BTC] || click for btc earn free bitcoin in Hindi / Urdu: http://youtu.be/Ykr40Zeu7ew?a via @YouTube || Pirate Security Conference Live Stream — Matt Corallo's talk will be on in ~5 hours from now http://dlvr.it/NP3nxR #bitcoin #digitalnomadpic.twitter.com/fidw1DRDxh || 1 Bitcoin= $1277.00
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Trend: down || Prices: 1240.00, 1249.61, 1187.81, 1100.23, 973.82, 1036.74, 1054.23, 1120.54, 1049.14, 1038.59
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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 2017-05-15]
BTC Price: 1738.43, BTC RSI: 67.99
Gold Price: 1228.60, Gold RSI: 40.12
Oil Price: 48.85, Oil RSI: 50.59
[Random Sample of News (last 60 days)]
Hackers Threaten to Wipe iPhones Unless Apple Pays Ransom: A hacker group is trying to extort up to $100,000 from Apple by threatening to remotely wipe hundreds of millions of iPhones and iCloud accounts it claims it has accessed. The Vice website blog Motherboard reports that the hackers who call themselves the Turkish Crime Family are demanding that Apple either fork over $75,000 in cryptocurrencies Bitcoin or Ethereum or give them $100,000 worth of iTunes gift cards. In exchange, the hackers say theyll delete the large cache of iCloud and Apple email account data they claim to have. Motherboard says the cybercriminals allegedly have access to anywhere between 300 million and 559 million accounts. The Turkish Crime Family has given Apple a deadline of April 7 to meet its demands. However, before you panic at the thought of losing all your iPhones data including pictures, videos and other files an Apple spokesperson tells Fortune that its systems are secure and have not been breached. In an emailed statement to Fortune, an Apple spokesperson writes: There have not been any breaches in any of Apples systems including iCloud and Apple ID. The alleged list of email addresses and passwords appears to have been obtained from previously compromised third-party services. According to Fortune, its possible the hackers alleged data cache is from a previous data breach at LinkedIn. Even if Apples response leaves you reassured that your iPhone and iCloud data are safe, this is a good reminder to take extra measures to safeguard your personal information and electronic data. For example, activate two-factor authentication and make sure youre not using the same password on multiple sites. According to Fortune: Apple customers who secure their iCloud accounts with the same passwords they use on other online accountsespecially ones at LinkedIn, Yahoo, Dropbox, and other sites recently revealed to have suffered big breaches over the past few yearsshould adopt new passwords that are long, strong, and unique. Story continues For more on staying secure, check out: 7 Ways to Guard Your Wallet and Identity When Shopping Online 5 Free Tools That Identify Secure Websites Change Your LinkedIn Password and Others ASAP Have you had your data stolen before? Share your experiences below or on Facebook . This article was originally published on MoneyTalksNews.com as 'Hackers Threaten to Wipe iPhones Unless Apple Pays Ransom' . More from Money Talks News 15 Painless Ways to Save $1,000 by Summer 30 Awesome Things to Do in Retirement Secret Cell Plans: Savings Verizon, AT&T, T-Mobile and Sprint Dont Want You to Know About || Flow Mobile Top Up Made Easy with Scotiabank: MIAMI, FL--(Marketwired - Mar 28, 2017) - Adding credit to your mobile phone has never been easier if you are a Flow and Scotiabank customer. Both companies have partnered to provide Mobile Top Up -- a solution that allows customers to add credit to their phones directly from their Scotiabank online and mobile banking accounts, or from any Scotiabank ATM across the Caribbean. Having access to Mobile Top Up means Flow customers no longer have to wait in long lines or rely on a phone card to stay connected. Now, Flow customers who use Scotiabank for their banking needs, can top up their phones virtually anytime and anywhere in the region. "We're happy to have teamed up with Scotiabank to integrate their banking with our mobile phone services," said Garry Sinclair, Caribbean President, C&W Communications, operators of the retail brand Flow. "We're always looking for new and convenient ways to enhance our customers' experience and make their lives easier. With this fast and simple Mobile Top Up service we're doing just that -- providing customers with an innovative option to always stay connected, hassle free," Sinclair added. Mobile Top Up is available in all of Flow Caribbean markets with mobile services. For more information please visit www.discoverflow.co . About Scotiabank Scotiabank has been part of the Caribbean and Central America region since 1889 when the Bank opened its first office in Kingston, Jamaica to support the trade of rum sugar and fish. This was the first time a Canadian bank had opened a branch outside the U.K. or the U.S. Scotiabank had a branch in Kingston before the Bank opened a branch in Toronto, Canada, where the Bank's Executive Offices are now located. Some 120 plus years later, Scotiabank is the leading bank in the Caribbean and Central America, with operations in 25 countries, including affiliates. Scotiabank is the only Canadian bank with operations in four five of the seven Central American countries, namely Costa Rica, Belize, Panama and El Salvador. Story continues About C&W Communications C&W is a full service communications and entertainment provider and delivers market-leading video, broadband, telephony and mobile services to consumers in 18 countries. Through its business division, C&W provides data center hosting, domestic and international managed network services, and customized IT service solutions, utilizing cloud technology to serve business and government customers. C&W also operates a state-of-the-art submarine fiber network -- the most extensive in the region. Learn more at www.cwc.com , or follow C&W on LinkedIn , Facebook or Twitter . About Liberty Global Liberty Global is the world's largest international TV and broadband company, with operations in more than 30 countries across Europe, Latin America and the Caribbean. We invest in the infrastructure that empowers our customers to make the most of the digital revolution. Our scale and commitment to innovation enable us to develop market-leading products delivered through next generation networks that connect our 25 million customers who subscribe to over 50 million television, broadband internet and telephony services. We also serve over 10 million mobile subscribers and offer WiFi service across 5 million access points. Liberty Global's businesses are comprised of two stocks: the Liberty Global Group ( NASDAQ : LBTYA ) ( NASDAQ : LBTYB ) and ( NASDAQ : LBTYK ) for our European operations, and the LiLAC Group ( NASDAQ : LILA ) and ( NASDAQ : LILAK ) ( OTC PINK : LILAB ), which consists of our operations in Latin America and the Caribbean. The Liberty Global Group operates in 11 European countries under the consumer brands Virgin Media, Unitymedia, Telenet and UPC. The Liberty Global Group also owns 50% of VodafoneZiggo, a Dutch joint venture, which has 4 million customers, 10 million fixed-line subscribers and 5 million mobile subscribers. The LiLAC Group operates in over 20 countries in Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Más Móvil and BTC. In addition, the LiLAC Group operates a sub-sea fiber network throughout the region in over 30 markets. For more information, please visit www.libertyglobal.com . || Jamaican Shamique Simms Is the New Caribbean's Next Top Model: MIAMI, FL--(Marketwired - Apr 4, 2017) - Shamique Simms is theCaribbean's Next Top Model(CaribeNTM) 2017. The finale of CaribeNTM took place on Monday April 3rdand this year's competition ended in dramatic fashion, as two contestants tied for second place -- Samantha West from Trinidad and Nkechi Vaughn Guyana.
It was, however, the 5 foot 9 Jamaican who won the judges over with her grace and natural beauty, as well as her ability to work the camera no matter the setting or theme. This season's competition was held against the backdrop of the enchanting 'spice isle' of Grenada, and whether she was covering herself with oil for the infamous 'jab jab' shootor getting artistic in anunderwater shoot, Simms' versatility and raw modelling talent led her to the top position.
Along with the title of being the Caribbean's Next Top Model, Shamique was also awarded US$25,000 in cash; an international modelling agency contract with Mint Model Management, NY; a cover feature and editorial spread in SHE Caribbean magazine; and the latest generation iPhone fromFlow.
"Flow congratulates Shamique on her much deserved big win," said Wendy McDonald, Senior Director Communications, for the Caribbean. "Last year we welcomed the opportunity to partner with CaribeNTM as we saw this as a unique platform to provide exposure of young Caribbean talent both in front of and behind the camera. For us this is not just a competition but it is an investment in the development of the Caribbean fashion industry and our capacity to create local content that is on par with international standards. Additionally, it provides our viewers with unmatched access to local and regional content."
The third season of The Caribbean's Next Top Model, presented byFlow, premiered on January 30thexclusively onFlow 1with 17 fresh-faced ladies from all across the Caribbean. This season, Flow customers were able to watch the drama unfold 'on the go' for the first time via theFlow ToGoapp or watch and re-watch any episode viaFlow On Demand, ensuring they never missed a moment of the excitement.
Congratulating the winner, as well as each of the participants, the CaribeNTM co- executive producer, host, judge and former Miss Universe Wendy Fitzwilliam said: "Shamique competed amongst our toughest field of aspiring models yet, and always maintained her focus throughout the competition. More than any other participant, Shamique entered the competition with a clear understanding of what is required of her in the modelling industry. She consistently grew throughout the competition and it is this combination of preparedness and dogmatic perseverance with respect to her diet, fitness, mental strength and positive outlook that gave this "chocolate" beauty, as she was fondly called by her fellow models, the edge."
While there is only one winner, Flow would like to congratulate all the participants and finalists of Season 3 of the Caribbean's Next Top Model.
Editors' Note:
Caribbean's Next Top Model (#CaribeNTM) is produced Starfish Media Ltd. and hosted by Miss Universe 1998,Wendy Fitzwilliam. Itis a reality television competition based on the original production America's Next Top Model, and the America's Next Top Model format, created by Tyra Banks and licensed by CBS International. It follows the stories of aspiring young women seeking to launch a career in the competitive world of modelling. Fitzwilliam hosts Caribbean's Next Top Model as head judge, accompanied by judges: international photographer,Pedro Virgiland Caribbean fashion pundit extraordinaire,Socrates McKinney. For Season 3, CaribeNTM combed more than 30 Caribbean territories and narrowed more than two hundred (200) applicants down to seventeen (17).
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 atwww.cwc.com, or follow C&W onLinkedIn,FacebookorTwitter.
About Liberty Global
Liberty Global is the world's largest international TV and broadband company, with operations in more than 30 countries across Europe, Latin America and the Caribbean. We invest in the infrastructure that empowers our customers to make the most of the digital revolution. Our scale and commitment to innovation enable us to develop market-leading products delivered through next generation networks that connect our 25 million customers who subscribe to over 50 million television, broadband internet and telephony services. We also serve over 10 million mobile subscribers and offer WiFi service across 5 million access points.
Liberty Global's businesses are comprised of two stocks: the Liberty Global Group (NASDAQ:LBTYA) (NASDAQ:LBTYB) (NASDAQ:LBTYK) for our European operations, and the LiLAC Group (NASDAQ:LILA) and (NASDAQ:LILAK) (OTC PINK:LILAB), which consists of our operations in Latin America and the Caribbean.
The Liberty Global Group operates in 11 European countries under the consumer brands Virgin Media, Unitymedia, Telenet and UPC. The Liberty Global Group also owns 50% of VodafoneZiggo, a Dutch joint venture, which has 4 million customers, 10 million fixed-line subscribers and 5 million mobile subscribers. The LiLAC Group operates in over 20 countries in Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Más Móvil and BTC. In addition, the LiLAC Group operates a sub-sea fiber network throughout the region in over 30 markets.
For more information, please visitwww.libertyglobal.com.
Image Available:http://www2.marketwire.com/mw/frame_mw?attachid=3126367Image Available:http://www2.marketwire.com/mw/frame_mw?attachid=3126384 || 'Accidental hero' finds kill switch to stop spread of ransomware cyber-attack: Move by @malwaretechblog came too late to help those in Europe and Asia, but people in the US were given more time to develop immunity to the attack Cyber-attack hits dozens of countries – live updates Massive ransomware cyber-attack hits 74 countries around the world The spread of WannaCry ransomware wreaked havoc on organizations including the UK’s National Health Service (NHS). Photograph: Carl Court/Getty Images An “accidental hero” has halted the global spread of the WannaCry ransomware that has wreaked havoc on organizations including the UK’s National Health Service (NHS), FedEx and Telefonica. A cybersecurity researcher tweeting as @malwaretechblog , with the help of Darien Huss from security firm Proofpoint, found and implemented a “kill switch” in the malicious software that was based on a cyber-weapon stolen from the NSA. The kill switch was hardcoded into the malware in case the creator wanted to stop it from spreading. This involved a very long nonsensical domain name that the malware makes a request to – just as if it was looking up any website – and if the request comes back and shows that the domain is live, the kill switch takes effect and the malware stops spreading. Of course, this relies on the creator of the malware registering the specific domain. In this case, the creator failed to do this. And @malwaretechblog did early this morning (Pacific Time), stopping the rapid proliferation of the ransomware. “They get the accidental hero award of the day,” said Proofpoint’s Ryan Kalember. “They didn’t realize how much it probably slowed down the spread of this ransomware.” The time that @malwaretechblog registered the domain was too late to help Europe and Asia, where many organizations were affected. But it gave people in the US more time to develop immunity to the attack by patching their systems before they were infected, said Kalember. The kill switch won’t help anyone whose computer is already infected with the ransomware, and and it’s possible that there are other variances of the malware with different kill switches that will continue to spread. The malware was made available online on 14 April through a dump by a group called Shadow Brokers, which claimed last year to have stolen a cache of “cyber weapons” from the National Security Agency (NSA). Ransomware is a type of malware that encrypts a user’s data, then demands payment in exchange for unlocking the data. This attack was caused by a bug called “WanaCrypt0r 2.0” or WannaCry , that exploits a vulnerability in Windows. Microsoft released a patch (a software update that fixes the problem) for the flaw in March, but computers that have not installed the security update remain vulnerable. I will confess that I was unaware registering the domain would stop the malware until after i registered it, so initially it was accidental. — MalwareTech (@MalwareTechBlog) May 13, 2017 The ransomware demands users pay $300 worth of cryptocurrency Bitcoin to retrieve their files, though it warns that the “payment will be raised” after a certain amount of time. Translations of the ransom message in 28 languages are included. The malware spreads through email. Story continues “This was eminently predictable in lots of ways,” said Ryan Kalember from cybersecurity firm Proofpoint. “As soon as the Shadow Brokers dump came out everyone [in the security industry] realized that a lot of people wouldn’t be able to install a patch, especially if they used an operating system like Windows XP [which many NHS computers still use], for which there is no patch.” Security researchers with Kaspersky Lab have recorded more than 45,000 attacks in 74 countries, including the UK, Russia, Ukraine, India, China, Italy, and Egypt. In Spain, major companies including telecommunications firm Telefónica were infected. By Friday evening, the ransomware had spread to the United States and South America, though Europe and Russia remained the hardest hit, according to security researchers Malware Hunter Team. The Russian interior ministry says about 1,000 computers have been affected. View comments || How a security researcher miraculously and accidentally killed the ‘WannaCry’ ransomware: The massive ransomware hack targeting Windows machines across the globe was stopped dead in its tracks by a security expert who inadvertently activated a “kill switch” built into the malware’s code. The ransomware, dubbed “WannaCry”, made headlines on Friday after infecting computers in nearly 100 countries across the world, with Russia and England reportedly seeing the highest number of infections. The ransomware effectively locks users out of their machines, encrypts their files, and instructs them to send $300 worth of Bitcoin in order to reclaim them. The ransomware also states that the $300 payout will increase if a prompt payment isn’t made. Don't Miss : Apple’s iPhone 8 will be the most expensive iPhone the world has ever seen The exploit, which proliferates via email, was reportedly part of a vast treasure trove of NSA hacking tools leaked by a hacking group known as the Shadow Brokers last month. And though the exploit had since been patched by Microsoft, not everyone had updated their software accordingly. So how did the WannaCry campaign come to an end? Well, a young security researcher — known as malwaretechblog on Twitter — took a look at the ransomware’s code and noticed that it connected to an unregistered domain name consisting of a random string of characters. Out of curiosity, he registered the domain and inadvertently shut WannaCry down. The following photo via Kevin Beaumont is instructive: Detailing how the surprise discovery of the kill switch went down, The Guardian reports: The kill switch was hardcoded into the malware in case the creator wanted to stop it spreading. This involved a very long nonsensical domain name that the malware makes a request to – just as if it was looking up any website – and if the request comes back and shows that the domain is live, the kill switch takes effect and the malware stops spreading. The domain cost $10.69 and was immediately registering thousands of connections every second. MalwareTech explained that he bought the domain because his company tracks botnets, and by registering these domains they can get an insight into how the botnet is spreading. “The intent was to just monitor the spread and see if we could do anything about it later on. But we actually stopped the spread just by registering the domain,” he said. But the following hours were an “emotional rollercoaster”. For anyone curious about the nitty-gritty details surrounding malwaretechblog’s ransomware killing adventure, he posted an article detailing the experience on the National Cyber Security Centre website. It’s well worth a read. Story continues It’s worth adding that everyone shouldn’t breathe a sigh of relief just yet. It’s imperative that users should backup their important files, avoid clicking on suspicious emails, and make sure that their operating system software is up to date. Trending right now: Apple’s iPhone 8 will be the most expensive iPhone the world has ever seen New Google Pixel 2 leak shows raw power that comes with stock Android O T-Mobile’s latest smartphone deal is one of the best yet See the original version of this article on BGR.com View comments || Bitcoin value rises over $1 billion as Japan, Russia move to legitimize cryptocurrency: Bitcoin(Exchange: BTC=-USS)is up nearly $100 in the past week, hitting levels not seen since mid-March after Japan legalized the cryptocurrency as a payment method and Russia is seeking to regulate it too.
The digital currency was trading at around $1,223.04 at the time of publication, up from highs of $1,124.88 on April 5, and hitting prices not seen since March 16, according to Coindesk data. Bitcoin's market capitalization has risen from $18.34 billion on April 5, to $19.5 billion on Wednesday, according to Coinmarketcap.com data.
Bitcoin has suffered a recent dip in price thanks to a debate over thefuture of its underlying technology, but the recent support appears to have come from Japan.
Earlier this month, Japan began accepting bitcoin as legal currency with major retailers backing the new law. Consumer electronics retailing giant Bic Camera began accepting bitcoin last week.
Bitcoin trading in Japanese yen is the second-most liquid market globally, according to data compiled by cryptocurrency trading platform Gatecoin.
"The Japan virtual currency act has likely had a major impact, as there has been a lot of buzz in Japanese media over the ruling over the last few months," Aurélien Menant, founder and CEO of Gatecoin, told CNBC by email.
At the same time, Russia, one of the strongest opponents of bitcoin is seeking to regulate the digital currency. Russian Deputy Finance Minister Alexey Moiseev told Bloomberg in an interview this week that the authorities hope to recognize bitcoin and other cryptocurrencies as a legal financial instrument in 2018 in a bid to tackle money laundering.
"The state needs to know who at every moment of time stands on both sides of the financial chain," Moiseev told Bloomberg.
"If there's a transaction, the people who facilitate it should understand from whom they bought and to whom they were selling, just like with bank operations."
Increasing state regulation around bitcoin could make the cryptocurrency an attractive investment for investors who previously shied away from it due to the high risk and price swings.
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• Another Apple supplier tanks amid fears it could lose its key contract || Safe Haven ETFs to Evade Geopolitics & Weak Economic Data: The global investing world, especially risky assets, may waver in the near term on a host of factors including the global ransomware attack that affected over 200,000 computers in over 150 countries and a missile test by North Korea. To add to this, weaker-than-expected retail sales and inflation in the U.S. for the month of April are also likely to curb investors’ risk appetite. The U.S. core consumer price index (CPI) grew 1.9% on a year-over-year basis in April, marking the smallest gain since October 2015 and falling shy of the economists’ expectation of 2% growth. Retail sales rose 0.4% sequentially in April, lower than expectations of 0.6%. Thanks to this muted improvement in key economic indicators, traders now expect about a 49% chance of two more rate hikes rest of this year, lower than 54% expectations that hovered ahead of the release of data on May 12, as per the source. If this was not enough, China's factory output, retail sales and investments rose lower than expected as authorities launched a clampdown on the country’s bulging financial leverage, as per Bloomberg. Given these woes, risk-averse investors may tread cautiously and dump stocks in favor of safe haven assets to protect their portfolio from capital erosion. Below we have highlighted three safe haven ETFs that investors can consider adding to their portfolio in the current volatility. These products are likely to gain should the turmoil worsen and volatility in the market continue to escalate. Treasury Bonds iShares 20+ Year Treasury Bond ETF TLT Though U.S. treasuries were out of favor a few days back due to worries over Fed tightening, heightened global uncertainty brought this safe asset in the limelight. Dimming prospects of sooner-than-expected Fed rate hike and geopolitical concerns may lead treasury valuation to soar. Yields on the U.S. benchmark 10-year notes slipped to 2.33% on May 12 from 2.39% recorded the day before while yields on the U.S. benchmark 20-year notes dropped to 2.74% from 2.78% on May 11. The ultra-popular long-term Treasury ETF – TLT – tracks the Barclays Capital U.S. 20+ Year Treasury Bond Index. TLT was up about 0.8% on May 12, 2017. Apart from TLT, investors can also consider 25+ Year Zero Coupon U.S. Treasury Index Fund ZROZ and Vanguard Extended Duration Treasury ETF EDV . These two ETFs were up 1.1% and 1.2% on May 12, 2017 (read: Trump's First 100 Days: 5 Must See ETF Charts). Story continues Gold SPDR Gold Trust ETF GLD Gold is often viewed as a safe haven asset to protect against financial risks, and may perform well on heightened market volatility. Investors should note that the U.S. dollar has come under pressure on subdued economic data. PowerShares DB US Dollar Bullish ETF UUP was down about 0.5% on May 12, 2017. This should give further advantage to gold investing as the metal’s pricing is normally inversely related to the greenback (read: Follow Gundlach's Insight with These ETFs). GLD added about 0.3% on May 12, 2017. Apart from GLD, investors can also consider COMEX Gold Trust IAU, another popular choice in this space that returned about 0.4% on May 12, 2017 (read: Will We Finally See a Bitcoin ETF?). Currency CurrencyShares Japanese Yen ETF FXY The Japanese currency, yen, is often considered a classic safe haven asset that gained some strength lately. Also, subtle lower expectations of a near-term Fed rate hike dampened the dollar to some extent and boosted yen. Investors can target this currency via FXY, which measures the value of the yen against the price of the greenback. In fact, the fund advanced about 0.5% on May 12, 2017 (see: all the Currency ETFs here). 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 report ISHARS-20+YTB (TLT): ETF Research Reports CRYSHS-JAP YEN (FXY): ETF Research Reports SPDR-GOLD TRUST (GLD): ETF Research Reports ISHARS-GOLD TR (IAU): ETF Research Reports VANGD-EX DUR TR (EDV): ETF Research Reports PIMCO-25Y ZERO (ZROZ): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report || This New Tactic Might Finally Lure Big Investors to Bitcoin: Bitcoin believers argue the famous crypto-currency would be more stable--and more valuable--if only hedge funds and other institutional investors would get with the program and buy some. But so far, many big fish have stayed away--in part because bitcoin doesn’t provide the financial products and regulatory compliance they require. This could start to change, however, as more companies shape their services for traditional investors that want exposure to bitcoin and other digital currencies. The latest examples comes from San Francisco-based Coinbase, whose GDAX exchange--a trading platform backed by the New York Stock Exchange, venture capitalists like Andreesen Horowitz and others--announced on Monday the launch of margin trading . The new feature, which lets investors leverage their bets on bitcoin by a factor of three, is significant because the ability to trade on margin is widely used when trading traditional assets, and it is something institutional investors expect, according to Coinbase vice president Adam White. A few other U.S. digital currency exchanges, including Kraken, offer margin trading. But White, in an interview with Fortune , says Coinbase’s GDAX (for Global Digital Asset Exchange) is different because it has the state licenses that asset managers want to see before they lay down clients’ money. GDAX expects its combination of margin trading and regulatory compliance will attract hedge funds, high net worth individuals, and market makers like Cantor Fitzgerald. Down the road, White thinks digital currency will also attract investment bank “whales,” and that the likes of and will set up dedicated trading desks for bitcoin like the ones they have for oil, gold, and other types of foreign exchange. “It will be hard to get the first big one. It’s a matter of waiting for the first mover, then the fast followers will come,” White says. Here’s a GIF showing the trading platform in action: Bring on the short sellers? White also says GDAX’s new margin offering is significant because it provides an easy way to short bitcoin, meaning funds will have a way to hedge their positions. (The ability to short sell arises because GDAX supplies the margin purchase in bitcoin, which the investor can immediately sell for dollars and then later repay at a profit if the price drops). Story continues It’s unclear, though, if this will be enough to draw in a new class of traditional investors at a time when bitcoin virtual currencies are still considered by many as exotic assets with a reputation for volatility and scams. The SEC this month dealt a blow to the digital currency industry when it flatly refused to approve a new ETF, which would have let investors buy and sell bitcoin like ordinary shares. Get Data Sheet , Fortune's technology newsletter White, though, downplays the impact decision and points to a surge in trading volumes since the ruling came out on March 13. He says the average worldwide trading volume has jumped 33% across the world, and that GDAX’s daily average has jumped 67%. “I believe the SEC’s decision will increase demand for GDAX and our margin trading feature precisely because the SEC has highlighted the risk of offshore, risky exchanges. GDAX has established itself as a trusted, U.S. based exchange that operates within regulatory requirements and that is why our average daily trading volume has grown 2x relative to the rest of the industry,” White says. Despite his optimism, bitcoin also faces a series of fresh headwinds that include a major IRS investigation , tighter regulation in China, and a squabble among bitcoin developers that could create two versions of the currency. Meanwhile, the latest controversies over bitcoin have proved a boon to competing virtual currencies like Ethereum and Dash, whose share of the digital currency market cap has jumped in recent weeks. The bottom line is bitcoin and other virtual currencies are unlikely to lose their reputation anytime soon as an exciting but unpredictable investment. See original article on Fortune.com More from Fortune.com Why AMD Shares Jumped 7% Software Maker MuleSoft Shares Jump on Public Debut Why Stocks Are Better Than Leprechaun Gold on St. Patrick's Day Snap Inc. Shares Fell Below $20 for the First Time Twitter Will Showcase New Original Content and Streaming Video Soon || Young Footballers from Antigua and Trinidad emerge as winners of Flow Ultimate Football Experience: PORT-OF-SPAIN, TRINIDAD--(Marketwired - May 11, 2017) - Thirteen-year-old Ronaldo Flowers of Antigua and 16-year-old Che Benny of Trinidad and Tobago will gain the ultimate football experience as they head to Old Trafford in Manchester, UK to see Manchester United play against Crystal Palace on May 21. The young footballers won the trip after reaching the final round of the Flow Ultimate Football Experience which was hosted by Flow and the Manchester United Football Club in Trinidad.
The event, which took place recently, was the culmination of a series of competitions across Flow's 15 markets throughout the Caribbean. The finals at President's Grounds, St Ann's saw two young footballers from each country vying for the coveted prize. Among the 30 participants, 15 countries were represented -- Anguilla, Antigua & Barbuda, Barbados, British Virgin Islands, Cayman, Curacao, Dominica, Grenada, Jamaica, Montserrat, St. Kitts & Nevis, St Lucia, St. Vincent & Grenadines, Trinidad and Tobago and Turks & Caicos. The players were also each accompanied by a parent or guardian and their coach.
They participated in a two-day skills session with one-on-one training with Manchester United Soccer School Coaches (MUSS), Head Coach Mike Neary and Billy Miller. This is the second year of collaboration between Flow and MUSS. Through the Flow Ultimate Football Experience, the two partners gave the young athletes a greater opportunity at success and brought the region closer to one of their favourite sports.
Ronaldo Flowers has been given the nickname 'Flower Power' on the field. Originally from Jamaica but lives in Antigua, Flowers was named after the famous footballer. The youngster has been playing the game for the past four years and has in his vision to become a professional player. He plays central attack and midfield positions, which allow him to do what he likes best, score goals.
"It felt like a dream coming true," Flowers said following the announcement. "The challenge was very difficult because there were other talented players but I played hard."
Che Benny has been playing football since the age of five when his uncle took him to see St Ann's Rangers -- the team with which he still plays. Team coach Everett Williams, who was also present at the weekend challenge, says Benny was born with a natural talent. He was happy Benny received the exposure playing with other footballers in the Caribbean.
"I stepped up to the plate," Benny said after winning the award. He also hopes to meet his favourite footballer, the Red Devils' midfielder Juan Mata when he visits Manchester. Young Benny also said "football is my passion, I eat, sleep and dream about football and playing the sport professionally."
Flowers and Benny, along with their coaches, will travel to the world-famous football stadium to see Manchester United's final Premier League game of the season against Crystal Palace. This VIP experience will also include a visit to the Manchester United Museum and Tour, taking in the history of the club followed by a tour of the iconic stadium.
The two winners received their trophies from top officials present on the stage including Trinidad and Tobago Sports Ambassador and former Manchester United player, Dwight Yorke and Trinidad's Minister of Sport, Hon. Daryll Williams. Minister Williams thanked Flow in his remarks for providing this kind of opportunity for young footballers in the region. Minister Williams reflected "I looked up to Dwight Yorke when I was a young footballer as being an inspiration for Caribbean players however there were no such opportunities like this one from Flow and Manchester United. Through this Flow Ultimate Football Experience you youngsters now have access to some of the best coaches and players in the world of football."
"I am pleased for them both!" said a very proud Wendy McDonald, Flow's Senior Director of Communications for the Caribbean, "This is a-once-in-a-lifetime opportunity and definitely the "ultimate football experience" that these two young footballers have been given through Flow's partnership with Manchester United. We will continue to follow their journey to Manchester and we hope this will encourage even more aspiring footballers from the Caribbean to be ready for opportunities like this."
About C&W CommunicationsC&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 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 25 million customers who subscribe to over 50 million television, broadband internet and telephony services. We also serve over 10 million mobile subscribers and offer WiFi service across 6 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) and (NASDAQ:LILAK) (OTC PINK:LILAB), which consists of our operations in Latin America and the Caribbean.
The Liberty Global Group operates in 11 European countries under the consumer brands Virgin Media, Unitymedia, Telenet and UPC. The Liberty Global Group also owns 50% of VodafoneZiggo, a Dutch joint venture, which has 4 million customers, 10 million fixed-line subscribers and 5 million mobile subscribers. The LiLAC Group operates in over 20 countries in Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Más Móvil and BTC. In addition, the LiLAC Group operates a sub-sea fiber network throughout the region in over 30 markets.
For more information, please visitwww.libertyglobal.com
Image Available:http://www2.marketwire.com/mw/frame_mw?attachid=3138743Image Available:http://www2.marketwire.com/mw/frame_mw?attachid=3138746Image Available:http://www2.marketwire.com/mw/frame_mw?attachid=3138749Image Available:http://www2.marketwire.com/mw/frame_mw?attachid=3138752Image Available:http://www2.marketwire.com/mw/frame_mw?attachid=3138755 || Monday Hot Reads: How To Tell If Your Mutual Fund Is Dying: Compiled by ETF.com Staff How To Tell If Your Mutual Fund Is Dying (LA Times) As many investors pull money from actively managed stock mutual funds, shareholders who stay put may face special risks. Would You Buy An ETF Without Knowing What’s In It? (Bloomberg Businessweek) Precidian will be competing with Eaton Vance on the level of nontransparent active exchange-traded vehicles. A Once-Hot ETF Now Looks Pricey (Benzinga) VanEck's SLX steel ETF is looking expensive after a recent surge. Building A Better Bond ETF (Barron’s) Bond indexes are problematic, making ETFs based on them problematic. Here's how to improve performance. The Anti-Bitcoin ETF (Wall Street Journal) Diversified currency funds provide a contrast to proposed—and so far rejected—bitcoin ETFs. ETFs Claiming Larger Share Of Invested Assets (Chicago Tribune) Asset gathering pace is picking up steam, and that’s even more impressive if you consider 401(k)s still largely don’t offer ETFs. 5 High Yield ETFs Of CEFs For Tactical Income Investors (FMD Capital Management) A rundown of the differences between five ETFs that invest in closed-end funds. Investors Check In To This ETF, But Don’t Want To Leave (WSJ) BlackRock’s iShares Core MSCI Emerging Markets ETF IEMG has never had a day of net redemptions. A Foreign Threat To US Treasuries That Dwarfs Fed's Debt Hoard (Bloomberg) There’s an even bigger debt pile that could draw buyers away from Treasuries at just the wrong time. Recommended Stories Monday Hot Reads: How To Tell If Your Mutual Fund Is Dying BlackRock’s Active Gambit Ups Pressure On Rivals The ‘Stock Picker’s Market’ That Wasn’t Friday Hot Reads: Model ETF Portfolios Get A Fixed Income Overhaul Tuesday Hot Reads: ETFs Have Saved Investors How Many Billions? Permalink | © Copyright 2017 ETF.com. All rights reserved
[Random Sample of Social Media Buzz (last 60 days)]
1 BTC Price: BTC-e 1194.999 USD Bitstamp 1209.07 USD Coinbase 1218.00 USD #btc #bitcoin 2017-04-10 00:30 pic.twitter.com/LcCDvFl5mY || 2017/03/31-03:00
ZaifExchange
BTC:116000JPY(-110)
XEM:1.5729JPY(±0)
MONA:5.7JPY(±0)
#monacoin
#bitcoin
#nem || BTC: $1175.92 €1108.00 || One Bitcoin now worth $1076.20@bitstamp. High $1081.00. Low $1024.00. Market Cap $17.484 Billion #bitcoin || LIVE: Profit = $16,778.34 (2.74 %). BUY B347.11 @ $1,762.45 (#BTCe). SELL @ $1,797.00 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || #bitcoin #miner Altcoin Miner: 5 GPU on NiceHash Pool autosell to Bitcoin $2800.00 http://ift.tt/2pORNB1 pic.twitter.com/ubpeYa5yFf || One Bitcoin now worth $1241.45@bitstamp. High $1252.32. Low $1233.00. Market Cap $20.217 Billion #bitcoin pic.twitter.com/U2dzs34x9p || How #Bitcoin Works [Infographic]
#Fintech #Blockchainpic.twitter.com/XLxJPaoc0Y || In the last 10 mins, there were arb opps spanning 9 exchange pair(s), yielding profits ranging between $3.74 and $17,005.00 #bitcoin #btc || $1034.00 at 13:00 UTC [24h Range: $1020.15 - $1055.93 Volume: 7474 BTC]
|
Trend: up || Prices: 1734.45, 1839.09, 1888.65, 1987.71, 2084.73, 2041.20, 2173.40, 2320.42, 2443.64, 2304.98
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2022-05-16]
BTC Price: 29862.92, BTC RSI: 32.51
Gold Price: 1813.50, Gold RSI: 32.93
Oil Price: 114.20, Oil RSI: 61.32
[Random Sample of News (last 60 days)]
Silver Markets Bounce After an Initial Selloff on Wednesday: Silvermarkets have fallen a bit during the trading session on Wednesday to reach down to the $25 level before turning around and forming a relatively supportive-looking candlestick. Furthermore, the 50 Day EMA sits just below and is rising. Because of this, the market is likely to continue seeing a lot of value hunting, and if we can take out the $25.50 level to the upside, it would be a very bullish sign and it could open up the possibility of a bigger move to the $26 level.
While the silver market has had a rough couple of days, the reality is that we are in a longer-term uptrend. Furthermore, we have had to deal with a lot of inflation, and therefore it makes quite a bit of sense that silver would get a bit of a boost as precious metals are typically braced into when you are talking about inflation.
If we were to break down below the 50 Day EMA, it would not only break below a dynamic support level, but it also would be a breakdown below a potential hammer for the trading session. Ultimately, the area between the 50 Day EMA and the 200 Day EMA indicators typically is very supportive and important, so it does make a certain amount of sense that we would see buyers jumping in and that area as well. If we give up the 200 Day EMA on the downside, is very likely that the market falls apart. That being said, pay close attention to the US Dollar Index, as the US dollar has a massive negative correlation to the silver market.
For a look at all of today’s economic events, check out oureconomic calendar.
Thisarticlewas originally posted on FX Empire
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• Natural Gas Prices Fall Ahead of Inventory Report || Cryptoverse: Remember when bitcoin was 'anonymous'?: By Lisa Pauline Mattackal and Bansari Mayur Kamdar (Reuters) - Bitcoin just isn't anonymous enough for a growing cohort of crypto users who are seeking greater seclusion. A volatile class of crypto known as privacy coins, created with the primary aim of masking the identity of users and details of transactions, has quietly been gaining ground this month as maturing bitcoin inches towards mainstream finance. Monero and Zcash, among the most popular, have respectively gained 7.6% and 46% since March 1, according to CoinMarketCap data, even as bitcoin has lost about 5%. The pair has gained 4.7% and 16% in the past week. An index tracking privacy coins more broadly, compiled by research firm Macro Hive, has risen 4%. This could be a blip in the wild ride of privacy coins, which conceal more information about transaction amounts and parties through differences in their underlying blockchains. In the past five years, Monero's market cap - the total value of all the coin out there - has pinballed from $100 million to $6.8 billion to $3.4 billion now, according to CoinMarketCap data. Yet the interest in crypto privacy coincides with bitcoin's diminishing function as an anonymous currency. It also comes against the backdrop of war in Europe, a tightening sanctions dragnet and strong noises from policymakers in the United States, EU and Japan about regulating the crypto market. Aidan Arasasingham and Gerard DiPippo, of the Washington-based Center for Strategic and International Studies, note that bitcoin is not truly anonymous, but rather pseudonymous, where coins can be held in wallets opened under alternative or false names. "If a wallet can be linked to an entity or person, the actor can be identified," they wrote in a report in the context of the possibility of crypto being used in Russia and Ukraine to move funds. "Their transactions and wallets can be traced." Volatility aside, though, there are several obstacles that keep privacy coins from being a top-tier altcoin, or alternative to bitcoin, which has a market cap of around $776 billion. Story continues Some major crypto exchanges do not list privacy coins due to their potential for illicit activity, for example. Daily trading volumes for Monero have mostly been under $250 million this month while altcoin Ripple sees more than $1.5 billion changing hands each day. "Privacy coins will probably grow. The challenge is that you have to do a lot of things do make them anonymous that make for a horrible user experience and adds big transaction costs," said Dave Siemer, CEO at asset management firm Wave Financial in Los Angeles who owns some Monero coins. TRACING THE LAST SATOSHI Privacy coins have evolved in recent years as the ability of authorities to track blockchain activity for bitcoin and other major cryptocurrencies has become more advanced. "Coins can, with some effort, be traced back to the very last "satoshi", bitcoin's smallest unit," Teunis Brosens, head economist of digital finance and regulation at ING, said in a note. "Recent reports of ransomware money being recaptured, and arrests made for crypto exchange hacks made years ago, attest to this progress." Large regulators have the crypto market in the sights, with efforts intensified by concerns that Russian oligarchs and other sanctioned people could use bitcoin to clandestinely move money. U.S. senators have introduced a bill that could give the president power to sanction foreign cryptocurrency firms. The European Union has also voted in favor of comprehensive digital asset legislation. Japan's Financial Services Agency has said it will punish anyone making unauthorized payments to those targeted by the sanctions. SO HOW'S BITCOIN MOVING? Bitcoin's movements have been contained in part by the Ukraine conflict and the Federal Reserve's hawkishness. The crypto kingpin has been stuck between $35,000 and $45,000 since mid-January, unable to reach the $50,000 level it held at the end of 2021. A bitcoin long-to-short positions ratio on Binance is at 1.5, the same level it was at on Feb. 24 when Russia invaded. Meanwhile data from Glassnode shows a jump in the proportion of bitcoin supply being absorbed by entities with a low statistical history of spending it. Marcus Sotiriou, analyst at UK-based digital asset broker GlobalBlock, sees this as "suggesting a bullish market structure for the medium-long term". "Bitcoin is consolidating under $41,000, as the percentage of long-term holders in the market continues to increase," Sotiriou said. (Reporting by Lisa Pauline Mattackal and Bansari Mayur Kamdar in Bengaluru; Editing by Vidya Ranganathan and Pravin Char) || First Mover Americas: Bitcoin Downtrend Intact, Recession Fears May Weigh: Good morning, and welcome to First Mover, our daily newsletter putting the latest moves in crypto markets in context. Sign up here to get it in your inbox each weekday morning. Here’s what’s happening this morning: Market Moves: Bitcoin's post-Fed bounce stalls, the shape of the Treasury yield curve may keep risk appetite under check. And check out the CoinDesk TV show “ First Mover, ” hosted by Christine Lee, Emily Parker and Lawrence Lewitinn at 9:00 a.m. U.S. Eastern time. Market Moves By Omkar Godbole Immediate prospects for risk assets, including bitcoin (BTC), look bleak as bond markets question the U.S. central bank's ability to tighten monetary policy without pushing the economy into recession. "We're still in a downtrend market. Bear market rallies tend to be extreme. Until we break out of the down trendline, it's hard to say the bull market is around the corner," Kevin Kang, founding principal of BKCoin Capital LP, told CoinDesk in an email. He cited potential yield curve inversion, geopolitical tensions as key near-term risks to risk assets, including bitcoin. Treasury yield curve inversion occurs when the 10-year yield drops under the two-year yield. The U.S. curve has inverted before each recession since 1955, according to the Federal Reserve Bank of San Francisco. The curve was just 20 odd basis points short of inverting at press time, having flattened by 70 basis points since early January. So, recession fears will likely linger, keeping risk appetite under check. "Look at the massive flattening in the 2y10y – it's signaling that the [Federal Reserve's] ability to engineer a soft landing is quite narrow," David Duong, head of institutional research at Coinbase, said, referring to the two-year/10-year Treasury bond spread. "Plus, there's still a large risk that inflation could remain high and sticky, even with the base effects that could kick in. It's not immediately clear to me that a terminal rate [peak rate of the tightening cycle] of 2.375% would satisfy that." Story continues On Wednesday, the Fed raised borrowing costs by 25 basis points and signaled six additional rate hikes for the rest of the year. The U.S. central bank tried to calm market nerves by assuring that the economy was strong enough to absorb seven rate hikes. However, that didn't help as the two- and 10-year yield gap broke below 19 basis points right after the Fed statement. "The dot plot showed seven hikes this year, which isn't a major surprise, but there's a pretty wide dispersion for next year and the year after, suggesting a lot of uncertainty over the future economic scenario," Duong noted. "Overall, I haven't seen anything that has changed my view that crypto markets will need to see a stabilization period in the next two or three months before a more sustainable recovery can get underway," Duong added. Bitcoin jumped 4% to $41,700 on Wednesday. However, the follow-through has been anything but bullish so far. "Market was oversold and saw a lot of short covering across the board," BKCoin's Kang said while explaining Wednesday's rise. U.S. Treasury yield curve (TradingView) Latest Headlines Popular Bitcoin Strategy Loses Shine as US Inflation Nears 8% Web 3 Gaming Platform on Terra Blockchain Gets $25M Boost From FTX, Jump Crypto Taiwan's MaiCoin Crypto Exchange Weighs Nasdaq Listing: Report Bitcoin Mining Difficulty Drops for Second Time in March Facebook Owner Meta Sued by Australian Consumer Watchdog for Scam Crypto Ads Argentine Congress Approves IMF Debt Deal That Would Discourage Crypto Usage || WaxDynasty.com Explains Crypto Mining For Beginners: Santa Clarita, California, March 21, 2022 (GLOBE NEWSWIRE) -- Santa Clarita, CA based WaxDynasty.com is reaching out to help their community take their first steps into the world of cryptocurrency. In particular, the platform is answering their readers’ requests to explain the process of crypto mining and the various tools they need to participate. “Cryptocurrency is a digital or virtual currency,” explains the platform via an article that was recently published on their website, “that uses encryption techniques to make it secure and difficult to counterfeit. Cryptocurrency transactions are few, fast and irreversible. Cryptocurrency is not backed by any government or central bank; instead, it relies on the power of mathematics to create a decentralized form of money.” The article, titled ‘How To Make Money Mining Cryptocurrency For Beginners 2022 Without A Rig,’ aims to show potential crypto enthusiasts how they can get started even if they do not necessarily have a computer capable of mining. According to the platform, people in this position generally tend to want two things: to start mining both quickly and safely. Fortunately, the platform knows just how this can be done, and their team is eager to share their insight. The method most will be familiar with, the platform says, is where they purchase the associated equipment and hardware to start mining on their own. Such setups can include off-the-shelf gaming rigs that are repurposed or even custom rigs where the user has control over every aspect of its functions. This stage is generally a problem for beginners because mining rigs tend to require the best graphics cards on the market — which can be extremely costly. Making matters worse, recent global events, supply chain interruptions and material shortages have made graphics cards more scarce, thereby driving up their price well beyond what even manufacturers recommend. A decent mining rig can cost a beginner thousands of dollars, and this can be an incredibly scary investment for someone brand new to the field to make. Story continues The article clarifies, “The most important thing is to build your rig with the best graphics cards possible because they are what will perform the calculations that allow you to mine cryptocurrencies. You’ll need at least four graphics cards for mining Ethereum and at least two for mining Bitcoin; other types of cryptocurrencies might require even more powerful graphics cards such as AMD’s RX 570/580 GPUs or Nvidia’s GTX 1070/1080 GPUs.” However, the platform is pleased to share that there is indeed a viable alternative that anyone can turn to instead, potentially saving them a large amount of money in initial investment costs while still allowing them to explore the crypto world. This alternative is known as cloud mining, and it makes the field both more accessible and profitable for many more people. To get started, WaxDynasty.com states that new miners will have to create an account with a reputable platform that they can use to store their crypto coins after mining. The article recommends Coinbase for this purpose, partly due to the fact that it boasts an easy interface that beginners should have little problem navigating. Furthermore, Coinbase users can access their account via apps on either an Android device or iPhone, and certain users will appreciate that they can also utilize the physical Bitcoin wallets that Coinbase provides in addition to other storage solutions. There is a great deal of versatility here. “You’ll need a wallet address where you can receive your mined coins,” the article adds, “so pick one and enter it into your account on Coinbase.” Following this, users can remotely participate in mining by using rented cloud computing power. All they need to do is sign up with a platform that offers such a service and pay a small fee to get started — and they will instantly notice that this fee is much smaller than purchasing their own rig would have been. WaxDynasty.com has a recommendation here as well. They say, “ Minedollars is one such platform, and it has launched a new campaign that rewards all users with a sign-up bonus of $10 that can be withdrawn immediately. The cloud mining platform also offers a referral program where you get a 3% commission for referring friends and family.” Read the full article here for more: https://waxdynasty.com/how-to-make-money-mining-cryptocurrency-for-beginners-2022-without-a-rig/ . In the report readers will find the following video that details cloud mining by showing an investor mining: https://www.youtube.com/watch?v=CjTacVrFRyc WaxDynasty.com is committed to pushing the cryptocurrency market forward by educating their community on its various aspects. As such, they welcome all inquiries from those who wish to learn more. ### For more information about WaxDynasty.com, contact the company here: WaxDynasty.com Raul Meza 8554243007 [email protected] Santa Clarita, Ca CONTACT: Raul Meza || Stock Market Today: Start of Earnings Season Gets Stocks off the Ground: Delta plane Getty Images U.S. equities managed to snap their slide Wednesday as the first-quarter earnings season got off to a decent start. Delta Air Lines ( DAL , +6.2%) was one of the sharpest gainers in the S&P 500 after the airline posted both strong Q1 results and delivered a cheerful Q2 forecast. DAL's $9.35 billion in revenue topped expectations for $8.92 billion, while its net loss of $1.23 per share was under the $1.27 analysts were looking for. On top of that, Delta says second-quarter revenues will recover to just 3% to 7% below the pre-pandemic levels of Q2 2019 thanks to expectations of a robust travel season. SEE MORE 2022's Best Mutual Funds in 401(k) Retirement Plans CEO Ed Bastian told CNBC today that Americans are "done investing in their homes and their garden and want to go see someone else's garden for a change." The positive reaction to Delta Air Lines' earnings report gave a lift to fellow airline stocks. American Airlines Group ( AAL ) spiked 10.6%, while Southwest Airlines ( LUV , +7.5%) and United Airlines ( UAL , +5.6%) also finished the day solidly higher. Fastenal ( FAST , +2.2%) shares improved as well after reporting a profit of 47 cents per share on sales of $1.7 billion, both of which beat the Street's views. Meanwhile, BlackRock ( BLK , -0.2%), was roughly breakeven after it announced Q1 revenues of $4.7 billion that slightly missed the mark, but also better-than-expected adjusted earnings of $9.52 per share thanks to lower expenses. Sign up for Kiplinger's FREE Investing Weekly e-letter for stock, ETF and mutual fund recommendations, and other investing advice. Struggling a bit more was JPMorgan Chase ( JPM , -3.2%), which struck a sour note despite topping expectations. Profits of $2.76 per share on $31.59 billion in revenues were better than respective estimates of $2.69 per share and $30.86 billion, but also represented 42% and 5% year-over-year declines, respectively. Among the items weighing on JPM was a $524 million charge tied to market turbulence amid Russia's invasion of Ukraine. Story continues "The financial sector in general is under pressure over the past few weeks, and banks are almost at the bottom of the list," says Julius de Kempenaer, senior technical analyst at charting platform StockCharts.com. "One would think that the recent rise in interest rates would, to a degree, help banks, but the weak earnings report from JPM this morning suggests otherwise. Apparently the impact of rising inflation and geopolitical influences is more than offsetting the benefits from rising rates." SEE MORE 7 REITs Flaunting Fast-Growing Dividends Advances in the consumer discretionary (+2.5%) and communication services (+1.5%) sectors put the Nasdaq Composite (+2.0% to 13,643) ahead of the other major indices. The S&P 500 closed 1.1% higher to 4,446, while the Dow Jones Industrial Average climbed 1.0% to 34,564. The earnings calendar will continue Thursday, but Steve Sears, president of asset management firm Options Solutions, says that's not the only thing worth watching. "April options expire on Thursday since the markets are closed on Friday ," he says. "Options expirations have historically been mostly immaterial to the stock market, but don't tell that to investors. The growth in options trading during the COVID-19 pandemic has made options expirations as closely watched as the release of economic and inflation data." stock chart for 041322 YCharts Other news in the stock market today: The small-cap Russell 2000 jumped back above 2,000, gaining 1.9% to 2,025. U.S. crude oil futures jumped 3.6% to finish at $104.25 per barrel. Gold futures rose for a fifth straight day, gaining 0.4% to settle at $1,984.70 an ounce. Bitcoin stormed back from a recent slump, advancing 4.5% to $41,075.10. (Bitcoin trades 24 hours a day; prices reported here are as of 4 p.m. Charles Schwab ( SCHW ) rose 4.7% after Morgan Stanley analyst Mike Cyprys elevated the financial stock to a "top pick" position. Shares are at a compelling entry point right now and SCHW should "see upward estimate revisions and greater investor appeal" as it benefits from the Federal Reserve's rate-hiking cycle and rising yields. Not only is SCHW a top pick at Morgan Stanley, but it's also one of Kiplinger's best stocks to buy for 2022 . Walmart ( WMT , +2.6%) said it has hired John Rainey to replace outgoing Chief Financial Officer Brett Biggs. Rainey, who currently serves as chief financial officer at PayPal ( PYPL , -2.9%), will take over the reins on June 6. What's the Top Dow Stock Right Now? Where should investors be positioned as the Q1 earnings season gets underway? SEE MORE Hedge Funds' 25 Top Blue-Chip Stocks to Buy Now Chris Haverland, global equity strategist for the Wells Fargo Investment Institute, notes that "earnings growth is expected to be concentrated in several cyclical sectors. The energy , industrials and materials sectors should lead the way, with energy earnings expected to grow by an eye-popping 255%." However, it's possible that much of that backward-looking growth is priced into the sector right now – "forward guidance will be key as many companies continue to deal with rising input costs, a tight labor market, and continued global supply-chain constraints," Haverland adds. More broadly speaking, however, Haverland is "most favorable" on higher-quality U.S. large-cap equities at the moment. Those wanting to follow that guidance would be hard-pressed to find much higher-quality companies than the blue chips of the Dow Jones Industrial Average – though even within the ranks of these 30 large- and mega-cap stocks, some investments look vastly superior compared to others. Today, we've taken a fresh look at all 30 Dow Jones Industrial Average components , ranked based on the consensus analyst opinions of the dozens of pros covering each name. SEE MORE The 22 Best ETFs to Buy for a Prosperous 2022 You may also like What Are the Income Tax Brackets for 2021 vs. 2022? Your Guide to Roth Conversions The 22 Best Stocks to Buy for 2022 || 3 Monthly Dividend Stocks That Pay High Yields: The investment choices are limited for those investors who need more regular distributions of income as the vast majority of securities make quarterly dividend payments. However, there are approximately 50 companies that offermonthly dividend stocks.
Monthly dividend stocks can work to the investor’s advantage, especially if they require more consistent cash flows.
Even better, many of these stocks provide yields that are several times the 1.3% average yield for theS&P 500.
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Some of our favorite high-yield monthly income names include:
• EPR Properties(NYSE:EPR)
• Main Street Capital(NYSE:MAIN)
• Realty Income(NYSE:O)
Source: Vitalii Vodolazskyi / Shutterstock
First on our list of high-yield monthly dividend stocks to discuss is EPR Properties, which specializes in owning and developing experiential properties in the U.S. and Canada. The trust has a market capitalization of $3.9 billion and generates annual revenue of more than $530 million.
EPR Properties is a specialty real estate investment trust, or REIT, in that it focuses on properties that can be used for entertainment, recreation and education. The trust’s leases are structured as a triple net, meaning that the tenant is responsible for all of the costs associated with the property. This includes rent, maintenance and taxes. EPR Properties essentially acts as a landlord with the primary responsibilities of identifying new properties to invest in and tenants to fill vacant spaces.
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As of the most recent quarter, EPR Properties had $7 billion invested in more than 300 locations in 44 U.S. states. The trust counts more than 250 separate tenants in its portfolio, providing EPR Properties with a highly diversified business model. The trust has been in business for more than 20 years, so leadership has vast experience in finding, developing and renting highly specialized properties to meet market demand.
That said, EPR Properties did struggle during 2020 during the worst of the Covid-19 pandemic. Movie theaters (45% of properties) and eat-and-play tenants (28% of properties) were some of the most impacted business types when social distancing restrictions were implemented. Revenue fell 40% for the year.
The good news is that EPR Properties experienced a strong rebound last year as revenue grew 29% for 2021. While top-line performance hasn’t reached pre-pandemic levels yet, the expectation is to achieve revenue results this year that are close to what they were in 2019. EPR Properties collected 97% of rent in the fourth quarter of 2021, a positive sign for the trust.
As a result of the Covid-19 impact on the business, EPR Properties suspended its dividend from June 2020 to July 2021. The trust reinstated its dividend in August of last year, but at a 35% reduction compared to the last distribution. EPR Properties recently raised its dividend 10% for the April 18, 2022, payment date.
A dividend suspension and reduction could turn off some investors, but it took a pandemic to end the EPR Properties’ 10-year dividend growth streak. Shareholders should see $3.23 of dividends per share this year, equating to a projected funds-from-operation payout ratio of 73%. EPR Properties often has a payout ratio in the low 80% range. Shares yield 4.4% today.
EPR Properties’ dividend is not yet back above its pre-pandemic levels, but the trust has seen a sharp recovery in its business. This is expected to continue into the current year as well. Absent another nationwide shutdown of the economy, we believe that EPR Properties’ high-yield monthly dividend is very secure.
Source: Shutterstock
Next up is Main Street Capital, a top business development company, or BDC. The company is valued at nearly $3 billion and generates annual revenue of $289 million.
Main Street Capital provides long-term debt and equity capital solutions to companies in the lower middle market range, which are those that have annual revenue in the $10 million to $150 million range. The company also provides debt capital to middle market companies, which are those that generate revenue of $150 million to $1 billion per year.
With its ability to invest in both debt and equity, Main Street Capital is different than most other companies in the space that use private debt or private equity alone. The lower middle market private debt and equity space is more of a niche environment as it is too small for most commercial banks. At the same time, its too large for smaller retail banks, leaving the company with few major rivals.
In addition, the company operates a geographic diverse business model, with no one region of the U.S. accounting for more than a quarter of invested capital. Most of Main Street Capital’s transactions are through recapitalization and leveraged buyouts, but the company is also diversified by industry group.
Main Street Capital owns two small business investment company funds that provide clients with access to low cost, fixed rate loans. The company operates its own investment funds, which helps to keep management fees low, giving it an advantage over peer groups.
Main Street Capital’s revenue fell 8.5% in 2020 as the company’s business wasn’t immune to the impact of the pandemic. Revenue surged nearly 30% last year as Main Street Capital has already surpassed its 2019 revenue totals, demonstrating the resilient nature of the company’s business model.
The company’s resiliency also benefited its shareholders as Main Street Capital raised its dividend twice during 2020 as well as distributed a special dividend at the end of the year. The dividend has been increased for six consecutive years. The company has never decreased its monthly dividend payments, an excellent characteristic for investors seeking income.
With expected dividends of $2.58 per share for the year, we project Main Street Capital a payout ratio of 94%. This is a high payout ratio, but below the stock’s 10-year average payout ratio of 113%. Shares yield 6.2%.
Source: Shutterstock
Our final company for high-yield monthly dividend stocks is Realty Income, one of the more well-known REITs in the market. The $43 billion company has annual revenue of nearly $2 billion.
Realty Income was founded in the late 1960s, but didn’t have its public listing until 1994. In that time, the trust has transformed into one of the largest REITs in the country. Today, Realty Income has more than 11,000 total properties across 60 different industries.
The company also has operations in every U.S. state as well as Europe. This provides broad diversification across tenants and geographic regions. No industry group contributes more than 10% of annual rents, which will likely help Realty Income during the next recession.
This diverse business model helped Realty Income withstand the worst of Covid-19 as revenue grew 10.5% in 2020 and the occupancy rates stayed in the mid-to-high 90% range. The most recent quarter saw an occupancy rate of 98.5%. Importantly, Realty Income collected most of rent due, including 100% from movie theater clients.
The trust has made strategic business decisions to improve its core business even further. Realty Income merged with VEREIT, a leading manager of more than 3,8000 single-tenant properties, on Nov. 1, 2021. Following this, the trust spun off its office property business intoOrion Office REIT(NYSE:ONL), divesting one of the weaker areas of business for Realty Income during the 2020 period. The trust also has expanded its European footprint and now owns properties in both the U.K. and Spain.
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A strong business model has enabled Realty Income to grow its dividend for 26 consecutive years, qualifying the trust as aDividend Aristocrat. The trust is one of just two REITs that is a member of this exclusive index. Realty Income raised its dividend four times in 2020 as the trust performed very well during the pandemic.
Realty Income should distribute at least $2.96 of dividends per share this year, resulting in a projected payout ratio of 75%. This compares well to the average payout ratio of 84% since 2012 and would be the lowest payout ratio during this period. Realty Income yields 4.1%.
For investors requiring monthly dividend payments, there are limited options. Fortunately, there are several high-quality companies that offer high yields.
EPR Properties, Main Street Capital and Realty Income are three examples of monthly dividend stocks we feel investors should consider. Each stock yields at least three times the average yield of the S&P 500 Index. EPR Properties did struggle in 2020 as a result of the Covid-19 impact, but it has since reinstated and raised its dividend. Main Street Capital and Realty Income both raised their distributions several times in 2020 and, especially in the latter’s case, escaped the pandemic must better than peers.
Each name also has a reasonable payout ratio relative to its respective historical average, which should provide confidence to investors that the dividend is safe for each company.
On the date of publication, Bob Ciura did not have (either directly or indirectly) positions in any of the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to theInvestorPlace.com Publishing Guidelines.
Bob Ciura has worked atSure Dividendsince 2016. He oversees all content for Sure Dividend and its partner sites. Prior to joining Sure Dividend, Bob was an independent equity analyst. His articles have been published on major financial websites such as The Motley Fool, Seeking Alpha, Business Insider and more. Bob received a bachelor’s degree in Finance from DePaul University and an MBA with a concentration in investments from the University of Notre Dame.
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The post3 Monthly Dividend Stocks That Pay High Yieldsappeared first onInvestorPlace. || US stocks jump as oil prices slip and jobs data boosts confidence in the economy: • US stocks rose on Thursday after weekly jobless claims fell to their lowest level in 52 years.
• The strong claims data bested economist estimates and underscores a healthy job market.
• Oil prices fell, with West Texas Intermediate dropping 2.3% to settle at $112.34 per barrel.
US stocks moved higher on Thursday, recovering from Wednesday's sell-off, after weekly jobless claims fell to their lowest level in 52 years.
Jobless claims fell to 187,000 last week, down 28,000 from the previous week and ahead of economist's estimates of 210,000. Filings hit the lowest level since September 1969, highlighting the underlying strength of a job market that is still recovering from the COVID-19 pandemic.
Meanwhile, commodity prices cooled on Thursday, with oil prices falling more than 2%. The drop in oil came on the same day President Joe Biden traveled to Europe to meet with other Western countries regarding the ongoing invasion of Ukraine by Russia, and called for Russia to be removed from G20.
Here's where US indexes stood at the 4:00 p.m. ET close on Thursday:
• S&P 500:4,520.16, up 1.43%
• Dow Jones Industrial Average:34,707.94, up 1.02% (349.44 points)
• Nasdaq Composite:14,191.84, up 1.93%
Russia partiallyreopened its stock market on Thursdayfor the first time in a month. The country allowed shortened trading in 33 of its 50 stocks, banned short-selling, and blocked foreigners from selling their stocks. The Moscow Exchange surged as much as 12% before finishing the day up 4%.
Russian billionairesgained more than $8 billion in wealthon Thursday after the Moscow Exchange resumed partial trading in certain securities.
BlackRock CEO Larry Fink believes the ongoing Russia-Ukraine conflictcould help boost digital currenciesafter sanctions against Russia crippled their economy. "The war will prompt countries to re-evaluate their currency dependencies," Fink said.
Nikola stock soared as much as 19%after the company said it began production of its electric semi-truck. The company said it plans to build between 300 and 500 trucks this year.
Marijuana stocks surged in late afternoon trades on Thursday after the US House of Representatives scheduled a vote next week on a bill that would legalize the drug.
West Texas Intermediate crudeoil fell 2.3% to settle at $112.34 per barrel.Brent crude, oil's international benchmark, dropped 2.9% to $118.04.
Bitcoin rose 2.83% to $43,960. Ether prices jumped 2.97% to $3,109.
Goldrose as much as 1.37% to $1,638.80 per ounce. The yield on the 10-year Treasury added 7 basis points to 2.36%.
Read the original article onBusiness Insider || Central and Eastern Europe: Growth Slows, Inflation Rises From War in Ukraine; ECB, EU Cushion Blow: Scope Ratings expects average growth of the central and eastern European member states of the EU (CEE-11) to decelerate to 2-3% this year, a downward revision from our December forecast of 4.6%.Inflationcould average close to 10% in the CEE-11 this year.
The readiness of the ECB to provide liquidity support to central banks in non-euro area EU countries is one key sign of European solidarity in the face of Russia’s further invasion of its western neighbour.
More Europe-wide support will emerge from discussions among European Union member states, perhaps along the lines of the Covid-19 EU Recovery and Resilience Facility alongside a reinforced commitment to helping CEE countries reduce their dependence on Russian energy imports.
The CEE region is especially vulnerable to consequences of this war beyond the region’s obvious proximity to Russia and refugees coming from the Ukraine. The military conflict and sanctions on Russia are stoking inflation by pushing up commodity prices – from oil and gas to metals, fertilisers and food – and disrupting supply chains while manifesting further volatility in financial markets.
Higher commodity prices in the run-up to the war’s escalation had contributed to turning current account surpluses into deficits in Poland (rated A+/Negative), Hungary (BBB+/Stable) and the Czech Republic (AA/Stable) or resulted in widening deficits as in Romania (BBB-/Stable) since the second half of 2021. Prolonged inflation risks squeezing the competitiveness of the region’s exporting sectors.
These macroeconomic conditions put the region’s central banks in a difficult position. They need to manage inflation without jeopardising the economic rebound and excessively pushing up debt-servicing costs (Figure 1). Inflation expectations are rising. Currency volatility will persist amid potential capital outflows, putting pressure on foreign-exchange reserves even as regional central banks tighten monetary policy.
Figure 1. Debt financing costs for non-euro area CEE member states have increased materially
Local-currency government 10-year benchmark yields (%)*
Source: Macrobond, ECB, Scope Ratings GmbH; *averages; euro-area (EA) CEE is Slovakia, Slovenia, Lithuania, Latvia; non-EA CEE is Poland, Hungary, the Czech Republic, Romania, Bulgaria, Croatia.
The ECB’s decision to grant non-euro area central banks access toeuroliquidity via new swap and extended repo facilities, originally established during the pandemic crisis, demonstrates wider EU readiness to offering further support, including fiscal help, tailored to abetting the most vulnerable CEE countries.
Under the new swap arrangement, Poland’s central bank can borrow up to EUR 10bn from the ECB, equivalent to around 7% of the country’s international reserves, in exchange for Polish zloty. Under a bilateral repo line, Hungary’s central bank can borrow up to EUR 4bn from the ECB, equivalent to around 11% of aggregate reserves, in exchange for adequate euro-denominated collateral. Such support has contained euro-denominated interest costs for CEE EU member states over previous crises given a sizeable share of euro borrowing in the region, of around 20% of public debt in cases of Poland and Hungary.
We expect more EU-wide burden-sharing such as the almost EUR 17bn to help Ukrainian refugees and EU member states hosting the displaced persons. Poland has requested EUR 2.2bn from the EU budget in supporting Ukrainian refugees.
The war in Ukraine and sometimes differing approaches to it are changing intra-EU relations, notably between Brussels and its member states such as Poland and Hungary. While institutional disputes between Poland and the European Commission are unlikely to easily subside, the EU might unlock promised funding if the government in Warsaw displays greater respect for the rule of law.
Hungary, however,risks increased political isolationwithin the EU, increasing uncertainty over its stable inflow of EU funding over the medium run, as reflected in the EU’s upcoming initiation of a conditionality mechanism for Hungary linking EU budgetary financing to adherence to the rule of law.
The CEE region does hold multiple economic strengths. Foreign-exchange reserves of the central banks of Poland, the Czech Republic, and Hungary fully cover outstanding short-term external debt, an important shock absorber amid currency volatility. Romania’s reserves cover nearly 90% of its short-term external debt. Croatia (BBB-/Positive) and Bulgaria (BBB+/Stable), as candidates for euro adoption, benefit from membership in the EU’s Exchange Rate Mechanism II and Banking Union, ensuring their close cooperation with the ECB.
For a look at all of today’s economic events, check out oureconomic calendar.
Levon Kameryan is Senior Analyst in Sovereign and Public Sector ratings atScope Ratings GmbH. Jakob Suwalski, Director in Sovereign and Public Sector ratings at Scope Ratings, contributed to writing this commentary.
Thisarticlewas originally posted on FX Empire
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• US Dollar Continues to Pressure the Upside || Fintech Firm Mogo Forms Ventures Unit to Manage Its Mostly Crypto-Related Investments: Canadian fintech company Mogo (MOGO) created Mogo Ventures to manage its C$124 million (US$99 million) investment portfolio. Mogo Ventures will be led by Mogo CEO Greg Feller, along with a newly formed investment committee helmed by veteran investor and trader Michael Wekerle, according to a company statement . Of the C$124 million portfolio, C$103.8 million is from a 39% stake in Canadian crypto exchange Coinsquare. There’s also C$1.7 million of bitcoin (BTC) and ether (ETH) holdings. Investments in crypto and Web 3 platforms such as Gemini, NFT Trader and Tetra Trust, as well as stakes in Enthusiast Gaming (EGLX) and Eleven Gaming account for the remainder. Mogo’s shares are up nearly 20% in Nasdaq trading on Wednesday following the company reporting a 70% year-over-year gain in revenue in Q4 to a record C$17 million, as well as a buyback plan of up to $10 million in stock. “While our primary focus is to invest in our platform and new products, the market volatility may continue to present attractive buying conditions periodically,” Feller said in the earnings statement. “Our strong balance sheet puts us in a position to take advantage of those situations on behalf of our shareholders.” || Bitfarms Reaches 3 Exahash per Second as Production Starts at Leger: Increases Total Capacity to 137 Megawatts and Production Locations to Nine
This news release constitutes a “designated news release” for the purposes of the Company’s prospectus supplement dated August 16, 2021 to its short form base shelf prospectus dated August 12, 2021.
TORONTO, Ontario and BROSSARD, Québec, April 06, 2022 (GLOBE NEWSWIRE) --Bitfarms Ltd.(NASDAQ: BITF // TSXV: BITF), a global Bitcoin self-mining company, initiated production at Leger, located in Sherbrooke, Québec, increasing our operational hashrate to 3 exahash per second (EH/s). The initial deployment at Leger brought online 16 megawatts (MW) of its planned total of 30 MW of capacity. Approximately 2,500 of the latest generation miners have already been made operational immediately adding over 250 petahash per second (PH/s) to the Company’s hashrate with more miners scheduled to be installed in the coming days.
“By achieving the 3 EH/s hashrate, I am proud to report we achieved our 3 EH/s milestone within days of our target date and that we were able to successfully navigate an ever-changing logistics landscape without significant delay,” said Emiliano Grodzki, CEO of Bitfarms. “Our newer farms, like Leger and The Bunker, benefit from Bitfarms’ expertise of building mining facilities over the last 5 years, and these locations incorporate the latest in design and operate with higher efficiencies and uptimes.”
“Maintaining our laser focus on increasing our hashrate, we are on target to complete the build out of the remaining 14 MW at Leger by June 30, 2022, which is expected to contribute another 400 PH/s. We are also excited the second phase of construction at The Bunker is planned to be completed and bring on an additional 18 MW during the same timeframe. With robust miner deliveries scheduled, we expect our growth momentum to continue in the second quarter of 2022,” concluded Grodzki.
With the addition of Leger, Bitfarms’ capacity increased to 137 MW and locations in production increased to seven in Québec and nine total. With 33,300 miners online across 9 farms and 3 countries, Bitfarms’ operational hashrate is currently at 3 EH/s, and the Company is presently mining about 13.3 bitcoins (BTC) per day, worth about US$605,000 per day at today’s BTC price of approximately US$45,500.
About Bitfarms Ltd.
Founded in 2017, Bitfarms is a global Bitcoin self-mining company, running vertically integrated mining operations with onsite technical repair, proprietary data analytics and Company-owned electrical engineering and installation services to deliver high operational performance and uptime.
Having demonstrated rapid growth and stellar operations, Bitfarms became the first Bitcoin mining company to complete its long form prospectus with the Ontario Securities Commission and started trading on the TSX-V in July 2019. On February 24, 2021, Bitfarms was honoured to be announced as a Rising Star by the TSX-V. On June 21, 2021, Bitfarms started trading on the Nasdaq Stock Market. On February 24, 2022, the Company was further honoured by the TSX-V as Venture 50 Winner, placing first in the Technology sector.
Operationally, Bitfarms has a diversified production platform with seven industrial scale facilities located in Québec, one in Washington state, and one in Paraguay. Each facility is over 99% powered with environmentally friendly hydro power and secured with long-term power contracts. Bitfarms is currently the only publicly traded pure-play mining company audited by a Big Four accounting firm.
To learn more about Bitfarms’ events, developments, and online communities:
Website:www.bitfarms.com
https://www.facebook.com/bitfarms/https://twitter.com/Bitfarms_iohttps://www.instagram.com/bitfarms/https://www.linkedin.com/company/bitfarms/
Cautionary Statement
Trading in the securities of the Company should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), Nasdaq, or any other securities exchange or regulatory authority accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains certain “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) that are based on expectations, estimates and projections as at the date of this news release and are covered by safe harbors under Canadian and United States securities laws. The information in this release regarding expectations in respect to the benefits of acquiring and holding Bitcoin, its future rate of Bitcoin production, its future accumulation of Bitcoin, its expansion plans, and about other future plans and objectives of the Company are forward-looking information. Other forward-looking information includes, but is not limited to, information concerning: the intentions, plans and future actions of the Company, as well as Bitfarms’ ability to successfully mine digital currency, revenue increasing as currently anticipated, the ability to profitably liquidate current and future digital currency inventory, volatility of network difficulty and digital currency prices and the potential resulting significant negative impact on the Company’s operations, the construction and operation of expanded blockchain infrastructure as currently planned, and the regulatory environment for cryptocurrency in the applicable jurisdictions.
Any statements that involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information.
This forward-looking information is based on assumptions and estimates of management of the Company at the time they were made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks relating to: the global economic climate; dilution; the Company’s limited operating history; future capital needs and uncertainty of additional financing, including the Company’s ability to utilize the Company’s at-the-market offering (the “ATM Program”) and the prices at which the Company may sell Common Shares in the ATM Program, as well as capital market conditions in general; risks relating to the strategy of maintaining and increasing Bitcoin holdings and the impact of depreciating Bitcoin prices on working capital; the competitive nature of the industry; currency exchange risks; the need for the Company to manage its planned growth and expansion; the effects of product development and need for continued technology change; the ability to maintain reliable and economical sources of power to run its cryptocurrency mining assets; the impact of energy curtailment or regulatory changes in the energy regimes in the jurisdictions in which the Company operates; protection of proprietary rights; the effect of government regulation and compliance on the Company and the industry; network security risks; the ability of the Company to maintain properly working systems; reliance on key personnel; global economic and financial market deterioration impeding access to capital or increasing the cost of capital; share dilution resulting from the ATM Program and from other equity issuances; and volatile securities markets impacting security pricing unrelated to operating performance. In addition, particular factors that could impact future results of the business of Bitfarms include, but are not limited to: the construction and operation of facilities may not occur as currently planned, or at all; expansion may not materialize as currently anticipated, or at all; the digital currency market; the ability to successfully mine digital currency; revenue may not increase as currently anticipated, or at all; it may not be possible to profitably liquidate the current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on operations; an increase in network difficulty may have a significant negative impact on operations; the volatility of digital currency prices; the anticipated growth and sustainability of hydroelectricity for the purposes of cryptocurrency mining in the applicable jurisdictions; the inability to maintain reliable and economical sources of power for the Company to operate cryptocurrency mining assets; the risks of an increase in the Company’s electricity costs, cost of natural gas, changes in currency exchange rates, energy curtailment or regulatory changes in the energy regimes in the jurisdictions in which the Company operates and the adverse impact on the Company’s profitability; the ability to complete current and future financings, any regulations or laws that will prevent Bitfarms from operating its business; historical prices of digital currencies and the ability to mine digital currencies that will be consistent with historical prices; an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19 on the price of digital currencies, capital market conditions, restriction on labour and international travel and supply chains; and, the adoption or expansion of any regulation or law that will prevent Bitfarms from operating its business, or make it more costly to do so. For further information concerning these and other risks and uncertainties, refer to the Company’s filings onwww.SEDAR.com(which are also available on the website of the U.S. Securities and Exchange Commission atwww.sec.gov), including the annual information form for the year-ended December 31, 2021, filed on March 28, 2022. The Company has also assumed that no significant events occur outside of Bitfarms’ normal course of business. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those expressed in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on any forward-looking information. The Company undertakes no obligation to revise or update any forward-looking information other than as required by law
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Contacts
Investor Relations:
LHA Investor RelationsDavid Barnard+1 [email protected]
US Media:
YAP GlobalMia Grodsky, Account [email protected]
Québec Media:
Ryan Affaires publiquesValérie Pomerleau, Public Affairs and [email protected]
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 30425.86, 28720.27, 30314.33, 29200.74, 29432.23, 30323.72, 29098.91, 29655.59, 29562.36, 29267.22
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2019-11-08]
BTC Price: 8804.88, BTC RSI: 47.42
Gold Price: 1461.30, Gold RSI: 38.38
Oil Price: 57.24, Oil RSI: 58.72
[Random Sample of News (last 60 days)]
Price of Gold Fundamental Weekly Forecast – Less-Dovish Fed, Solid CPI Could Weigh on Prices: Gold futures finished higher last despite giving back some of its earlier gains on Friday. A string of disappointing U.S. economic reports throughout the week led to increased worries the global economic slowdown had reached the United States. The strength last week was fueled by concerns that a slowdown in manufacturing will spread to other parts of the U.S. economy.
Most of the rally was fueled by safe-haven buying as investors aggressively shed the higher risk U.S. stock market for the safety of the U.S. Treasury bond market. This drove down Treasury yields, making the U.S. Dollar a less-attractive investment. The lower U.S. Dollar drove up foreign demand for dollar-denominated gold.
Last week,December Comex goldsettled at $1512.90, up $6.50 or +0.43%.
The two key reports that encouraged investors to cover short positions in gold were the ISM Manufacturing PMI report that showed manufacturing activity contracted in September for the second month in a row, and the ISM Non-Manufacturing PMI, which also declined but remained in expansion territory.
Helping to encourage speculators to lighten up on the long side was the September Non-Farm Payrolls report, which provided some assurance that despite a slowdown in hiring, the labor market remains tight, which is a positive for consumers and the economy. It also encouraged investors to reduce bets the U.S. Federal Reserve would cut interest rates aggressively this year.
Data from the U.S. will dictate the direction of gold prices this week. Basically, lower Treasury yields and weaker stock prices will be supportive for gold. A rise in yields and trader demand for risky assets will encourage selling. The biggest influence on prices will be the direction of the U.S. Dollar.
In the U.S. this week, investors will get the opportunity to react to the three speeches from Federal Reserve Chairman Jerome Powell and the Federal Open Market Committee Meeting Minutes. Traders will be looking for clues as to the probability of a Fed rate cut in October. As of Friday’s close, the CMEGroup’s FedWatch Tool is predicting a 76.4% chance of a rate cut on October 30.
The major report is Thursday’s Consumer Price Index. It is expected to come in at 0.1%. Core CPI is expected to have risen 0.2%.
Thisarticlewas originally posted on FX Empire
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• Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 06/10/19 || Latest Bitcoin price and analysis (BTC to USD): At the time of writing, Bitcoin (BTC) is trading at just above $10,300 after gaining about 1% since last week. BTC experienced a substantial pump earlier in the month which saw price jump from $10,000 to a peak of around $10,700 before quickly retracing to around $10,200. Despite an increasing number of lower highs, it now seems the market is accumulating and gaining strength for the next bull round. Will price recover back to $13,000 and above? If so, when? Let’s take a look at Bitcoin’s chart to find out. As you can see from the chart above, BTC is now trading around its 20-day EMA after price bounced off the 50-day EMA for the third time in the last few weeks. Price was swinging between the 20-day and 50-day EMAs for all of last week before it finally closed above all the EMAs. Last week , I stated Bitcoin should bounce between $9,000 and $11,000 before making its way upwards again towards the $12,000 and $13,000 levels and above. Even though the trend is our friend, there is the potential for significant retracements that would see price touch or even drop below Bitcoin’s 100-day EMA. Remember that in the previous bull run, price retraced between 30% to 40% a few times before reaching all-time highs. At the moment, I believe we’ll continue to push higher up, especially with the ECB’s recent rate cut and the US-China trade war wreaking havoc on the traditional financial markets. Moreover, traditional investment bonds are also showing signs of weakness, with some offering terribly low yields – in some countries (Germany and Switzerland, for example) ten-year yields are offering lower rates than two-year yields. This could see more people turning to Bitcoin as they seek to make better use of their money and also safeguard it against a possible global recession. However, in the short-term, Bitcoin’s volume seems to be stagnating, meaning we could see price drop once again over the next few days. Story continues Volume has dropped from a peak of $27 billion earlier in the year to around $12 billion now, although it’s currently on a positive trend towards $13 billion. If volume drops lower than $10 billion, I’d expect price to break to the downside. Still, we’re not there yet, and there’s plenty of time to recover. Bitcoin’s market dominance has also decreased slightly from 70% to 69%, according to CoinMarketCap. Hopefully this latest downturn was just a bump in the road and the market will continue its positive momentum once again. Looking at the overall market behaviour, I’m quite confident that we’re still in a bull run – or at least that’s what my analysis shows. Safe trades! Current live Bitcoin pricing information and interactive charts are available on our site 24 hours a day. The ticker bar at the bottom of every page on our site has the latest Bitcoin price. Pricing is also available in a range of different currency equivalents: US Dollar – BTCtoUSD British Pound Sterling – BTCtoGBP Japanese Yen – BTCtoJPY Euro – BTCtoEUR Australian Dollar – BTCtoAUD Russian Rouble – BTCtoRUB About Bitcoin In August 2008, the domain name bitcoin.org was registered. On 31st October 2008, a paper was published called “Bitcoin: A Peer-to-Peer Electronic Cash System”. This was authored by Satoshi Nakamoto, the inventor of Bitcoin. To date, no one knows who this person, or people, are. The paper outlined a method of using a P2P network for electronic transactions without “relying on trust”. On 3rd January 2009, the Bitcoin network came into existence. Nakamoto mined block number “0” (or the “genesis block”), which had a reward of 50 Bitcoins. More Bitcoin news and information If you want to find out more information about Bitcoin or cryptocurrencies in general, then use the search box at the top of this page. Here’s an article to get you started. As with any investment, it pays to do some homework before you part with your money. The prices of cryptocurrencies are volatile and go up and down quickly. This page is not recommending a particular currency or whether you should invest or not. Disclaimer: The views and opinions expressed by the author should not be considered financial advisement. The post Latest Bitcoin price and analysis (BTC to USD) appeared first on Coin Rivet . || Bitcoin breaks upwards as Monero stays bullish: Bitcoin is again on the accent, gaining 2% in the last 24 hours and up over 12% in the last 7 days. Bitcoin is currently trading at $10,750. After Bitcoin 's double-digit rise this week, and dominance over the altcoin market hitting 70% the short term focus for traders will be to see if the decentralized asset can burst through the next big mark of $11,000. On August 20, Bitcoin hit this level but then fell back down. Looking at the weekly performance of the top 10 cryptocurrencies , the top 9 are in the green this weekwith only Stellar posing losses, down 3.5%. Whales move over $1 billion worth of Bitcoin to a single wallet Apart from Bitcoin, the only other major token to have seen a double-digit gain over the last 7 days is Monero . The privacy-focused asset has risen by an impressive 15%. Additionally, Monero's price has broken above its average price over the last 50 days, seen as a good sign by traders. The last time this happenedearlier this yearits price doubled within the next 50 days. Binance Coin also saw its price appreciate by more than 8% in a 6 hour period. The rally started yesterday after news broke about the exchange's plan to launch a fully-regulated, dollar-pegged stablecoindubbed BUSD. But, most of those gains were soon lost for Binance Coinas it fell from a high of $23.50 to a low $22 to post a modest gain of 3% for the day. || In first, non-custodial exchange KyberSwap rolls out fiat-to-crypto gateway: KyberSwap, a non-custodial exchange built on the Ethereum blockchain by Kyber Network, has become one of the first non-custodial exchanges to roll out fiat-to-crypto gateway. The gateway has been launched in partnership with MakerDAO-backed crypto startup Coindirect, according to a press release shared with The Block on Friday. The move will allow of the KyberSwap's users to purchase cryptocurrencies directly with fiat currencies. KyberSwap currently supports the trading of ether (ETH) and ERC20 tokens only, which means users can buy these tokens directly using fiat, as well as Visa and Mastercard credit and debit cards as Coindirect supports these cards. “We realized that a lot of people who have never held digital assets find the current process extremely complex. This inspired our partnership with Coindirect to build a simple and secure fiat-to-crypto gateway, helping to increase crypto adoption worldwide,” said Sunny Jain, head of product at KyberSwap. In July, crypto exchange Binance’s official wallet, Trust Wallet, also partnered with Kyber Network, to add trading support for “multiple” DEXs. The move gives users more options to “instantly” trade their assets and “tap into a large pool of ERC20 token liquidity.” KyberSwap supports more than 70 tokens including stablecoins DAI, USDC, TUSD, USDT, digital gold DGX, as well as MKR, LINK, KNC, and WBTC (wrapped Bitcoin). || How Leverage Can Help With Bitcoin’s Price Discovery: Bitcoin (BTC) is like any other asset class in that it captures value through organic price discovery conducted via trading activity on global exchanges.
Yet leverage andmargin trading, in general, can help “turbo-charge” demand for an asset. They can also free up capital, thus increasing liquidity within a given market as traders look to use their capital elsewhere.
It’s an investment strategy of using borrowed money for the use of various financial tools to increase the potential return of an investment.
Related:Iranian Bitcoiners Risk Fines, Jail Time as Government Regulates Mining
It’s also an efficient use of trading capital, valued by professionals because it allows them to trade large positions without committing 100 percent of their capital to a risky spot position.
For example, a trader that wanted to buy a thousand tokens at $1 apiece would only require a $100 of trading capital, depending on the leverage used, thereby leaving the remaining $900 available for additional trades.
Often touted as the most liquid cryptocurrency asset available, BTC benefits from leverage and margin trading activity by allowing investors and traders to lock in a position while maintaining a portfolio of other cryptos. It also provides professionals and retail investors with additional tools to capture value in the crypto market. In effect, greater demand on the asset class vastly improves the potential for more accurate value capture through organic price discovery.
Related:Bitcoin Approaching Biggest Weekly Price Loss of 2019
Participating in a live panel discussion at Invest: ASIA in Singapore, Lennix Lai, financial market director at OKEx told Coindesk:
“If you can only buy or sell particular underlying tokens of bitcoin and you don’t have the capability to short, basically speculate in another direction, then the market would be a lot more volatile because it would be entirely driven by sentiment.”
“For example, you can view bitcoin as being much more volatile before CME Futures were introduced … so we should have more financial instruments like options to assist further in the price discovery process in relation to volatility,” he said.
Greater access to capital means greater liquidity, without actually increasing the number of traders in a given market. It provides a means for increasing capital inflow without attracting any new money.
And while the total market capitalization of the crypto market has been on the slide alongside declining total volume, the pressures from a bear market can be offset through leverage and margin trading.
Of course, the rewards don’t come without inherent risks, as a loss can lead to the liquidation of a trader’s capital and force spot prices lower. Such an event recently took place in BTC’s futures market on Sept. 24 triggering a “long squeeze“.
If the cryptocurrency underlying a trade moves in the opposite direction to what was expected, leverage can greatly amplify the potential losses. To manage the risk associated, traders usually implement a strict trading style that includes the use of stop orders and limit orders designed to curb potential losses.
Also speaking on the panel in Singapore, Sunny Ray, head of global business development at the Kraken crypto exchange, explained how exchanges protect themselves from that risk:
“If there’s a lot of volatility in the market, if the value of the asset drops below 20 or 30 percent, there is something called a margin call that takes place where a company will actually liquidate the customer’s assets to cover some of those losses.”
There are currently eight major exchanges that offer the ability to leverage crypto, with several others offering margin trading accounts such as Kraken, Binance and Deribitm, whileBakkt’s releaseof its futures product on Sept. 23 adds to the opportunities for more authentic price discoveries.
Disclosure:The author holds no cryptocurrency at the time of writing.
Bitcoinimage via Shutterstock
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• Lightning Sucks, But It Could Help Build a Bitcoin Economy || Harbors Regulatory Wait Ends as FINRA Awards Broker-Dealer License: Harbor Square Investments, a subsidiary of tokenized securities platform Harbor, has received a broker-dealer license from the Financial Industry Regulatory Authority (FINRA), company executives told CoinDesk on Friday. The move breaks a lengthy standoff between aspiring crypto broker-dealers and the U.S. regulators who approve them. For more than a year, the Securities and Exchange Commission (SEC) and FINRA slow-walked Harbors and roughly 40 other crypto firms applications, voicing concerns that the digital assets they trade causes investors undue risk. Broker-dealers can buy and sell securities on their own and on their clients behalves. In the crypto space, a broker-dealer who treats digital assets as securities could bring market them to institutional investors. But they face strict requirements from the SEC and FINRA. Related: SEC Delays Decision on Wilshire Phoenix Bitcoin ETF Proposal An array of crypto dilemmas private key access, record-keeping, asset custodianship stymied the regulators processing of applications. It took the regulators a long time to get a handle on the space and understand it and its implications, Harbor CEO Josh Stein told CoinDesk. This was very new for the SEC and FINRA, and they wanted to do it right. FINRAs BrokerCheck web service confirms the news, showing four listings for Harbor Square as of this morning. Overcoming the blockade Though financial a newcomer, Harbor adopted a conservative mindset more closely associated with Wall Street banks than Bay Area startups to overcome regulators concerns. Related: Byrne Sells Overstock Stake to Buy Crypto and Battle Deep State Stein said: People, processes, and tech. We concentrated on institutional-grade people, institutional-grade processes, and institutional grade tech from the beginning. Over a year ago, Harbors compliance officers prepared reams of in-the-weeds documents for regulators, who went through the 500-odd pages with a fine-tooth comb. Story continues Its like writing the War and Peace of compliance, Stein said. Every process, from the on-boarding of new hires to the documentation of instant messages, and countless others, can be wrapped up in these required filings, called Written Supervisory Procedure . Harbor also chose familiar faces for its compliance team. The firms chief compliance officer, Steve Longo, has worked as a compliance czar for Citigroup and JPMorgan, and sits on FINRAs continuing education council, according to Stein. Full-stack services With its broker-dealer license secured, Harbor plans to become a one-stop shop for digital asset issuers. Were going to provide the technology platform to manage the fundraising, the technology to manage investors, the technology to tokenize and enable liquidity, Stein said. This streamlined process had been impossible before Harbors licensure, largely because the firm could only make introductions to partner broker-dealers then. The firm had been prohibited from handling other key processes, such as performing due diligence, which Stein said issuers want. Broker-dealer status changes that. Now, well assemble the BDs, do some interviews, put together all the paperwork, all the due diligence, Stein said. All the things that are so difficult today is now a seamless, easy experience. The shape of things to come Harbors licensing may carve a path for other digitally native broker-dealers to gain approval, perhaps ending U.S. regulators lengthy blockade. Stein suggested that its a sign of the maturing industry and of the SEC and FINRA taking this less-than-a-decade-old asset class more seriously. The regulators are saying: Hey, this is a regulated activity that a broker-dealer should go do. They should go sell these digital securities, because thats perfectly legitimate, appropriate and within the regulations. After Harbors licensing, Stein said more crypto broker-dealers may break through Thats a big deal for the whole industry. Josh Stein image via Harbor Related Stories SEC Chair, Commissioners to Talk Crypto at Congress Hearing Next Week SEC Charges Token Sale Platform ICOBox With Securities Violations || Bitcoin Cash down to $228 after continued sell offs: Crypto is an up and down game—and today’s been a down day for Bitcoin Cash.
In fact, most of the top-20 cryptocurrencies by market cap had small drops in price today, according to data from Messari.Bitcoinisonce again back downto trading between $8,100 to $8,200 per coin, despite rising to as high as $8,300 just 24 hours ago.Ethereumremains more or less stable ataround the $180 mark.
But Bitcoin Cash has dropped nearly $10 per coin within the last few days, from $236 to now around $228 per coin—a decrease of nearly 2 percent. Any rally BCH manages to pull off has yet to find sustained interest it appears.
But it’s not all bad news for Bitcoin Cash, which recently found newfound acceptance in South America, thanks, in part, toa new partnershipbetween Mercado Livre and BitPay. This will allow crypto enthusiasts in Brazil to pay with BCH and BTC for goods available through Mercado Livre, one of Latin America’s biggest online marketplaces.
Alberto Vega, a regional manager at BitPay, toldBusiness Insiderthat Bitcoin and other cryptocurrencieshave become overwhelmingly popularin Brazil, and blockchain awareness has grown significantly within the past 12 months. || With 18 Million Bitcoins Mined, How Hard Is That 21 Million Limit?: In a matter of hours, the 18 millionth bitcoin will have been mined and the world’s first cryptocurrency will draw one step closer to its hard-coded cap of 21 million coins. “The pie is shrinking. This [milestone] gives people some simple math to raise awareness about where we’re at in the [bitcoin mining] process,” said Alex Adelman, CEO of bitcoin rewards platform Lolli, adding: “It’s good for people to see the progress of bitcoin, to look back on everything that has been done and will be done for the next 3 million. … You should pay attention to the next 3 million.” Related: Peter Thiel Backs $200 Million Valuation for Renewable Bitcoin Mining in the US But don’t worry, you’ll have 120 years to do so. The next 3 million bitcoins will be progressively slower to mine as a result of block reward halvings which occur every 210,000 blocks (or roughly four years) and reduce new bitcoin supply by 50 percent. The final bitcoin is expected to be mined in 2140. Or is it? It seems blasphemous even to go there, given bitcoin’s value proposition as digital gold. But outsiders foresee a day when the 21 million cap might, gasp, come up for debate. Related: Next Bitcoin Halving Could Squeeze out Retail Miners, But Jury’s Split on Price Eventually, once there are no more bitcoins left to mint, miners will rely solely on transaction fees, which are paid by users to transfer coins through the blockchain. This change gives cause for concern to some who view bitcoin’s block subsidies as integral to bitcoin’s incentive system. To skeptics, this could undermine the structure that motivates miners to record validated transactions in the ledger. “All of your assumptions about incentives, risk and value go out the window,” said Angela Walch, a research fellow at the University College London Centre for Blockchain Technologies. “Please take the blinders off and stop assuming that everything will still work well once everything goes to a pure transaction-fees system as opposed to block [subsidy].” Story continues Currently, with each block, miners get a subsidy of 12.5 newly created BTC, worth roughly $99,370, plus any additional transaction fees, which normally don’t total more than 1 BTC. Along the same lines, Paul Brody, global innovation leader for audit firm Ernst & Young (EY), said bitcoin’s limited supply could limit the cryptocurrency’s utility as a global reserve currency. Pointing to situations such as the Great Recession where monetary policy interventions were needed to lift the U.S. out of economic turmoil, Brody said: “If bitcoin were to become a substantial part of the global monetary system, we would need to address [the hard supply cap] because a lot of economists agree deflationary systems are not necessarily the best thing.” What next? Both Walch and Brody suggested that bitcoin’s 21 million supply cap might one day be subject to change. What if? “We need to acknowledge that the 21 million cap is aspirational,” said Walch. “If people decide to change that [supply] cap for certain reasons and enough people make that decision, the system will move to it. It’s aspiration, not reality.” While technically feasible, a change to the supply cap would almost certainly be a non-starter for bitcoin users who cherish its gold-like properties. Indeed, bitcoin’s code has long been governed by a community with a bias toward retaining the coin’s original features as created by its pseudonymous founder, Satoshi Nakamoto. Unlike ethereum, the world’s second-largest cryptocurrency, the bitcoin blockchain has rarely seen backward-incompatible, system-wide upgrades changing core code features. In the rare instances it has, the bitcoin community has gone through fierce governance disputes – such as the infamous scaling debates of 2017 , which centered on a potential increase to bitcoin’s block size. The philosophical rift ultimately resulted in the creation of bitcoin cash in August 2017 . Still, a prospective hard fork that would change bitcoin’s 21-million-coin supply cap is conceivable, if perhaps heretical. “It’s not a given that bitcoin has to stay at that 21 million hard limit,” said EY’s Brody (who, it should be noted, is building enterprise applications on top of rival chain ethereum). “There is a governance mechanism to permit changes in bitcoin – if the community agrees that would be good.” The other side Even so, bitcoin advocate and author Andreas Antonopoulos stressed that governance drama surrounding bitcoin’s supply cap is nothing to lose sleep over – especially since bitcoin’s transition to a purely transaction-fee rewards model will take 120 years. Antonopoulos added that from the very launch of bitcoin in 2009, mining was always “a marginally profitable endeavor” never intended to stay constant. “[Mining rewards] dynamically adjust based on the network. … It’s a very complex economic environment. It’s not as simple as people think,” said Antonopoulos, adding: “There are half a dozen variables that determine miner profitability [right now] including the cost of electricity, their access to bandwidth transaction, the block subsidy, the transaction fees at the time, bitcoin price, their local currency exchange rate, the type of equipment and how efficient it is at converting electricity into mining.” As such, Antonopoulos says the concerns surrounding a transition from a block subsidy to purely transaction-based block rewards are grossly overblown. “Nothing magical happens when block subsidy drops to zero,” said Antonopoulos. “It’s a very gradual and predictable change that happens over a period of 120 years. It’s already happening and every day [miners] make their decisions.” While the 18th million bitcoin may not be the best reminder of the ongoing reality of a limited supply cap, the next upcoming milestone on bitcoin’s horizon assuredly will. Viewing the next bitcoin halving as a far more notable event in bitcoin’s history, venture capitalist William Mougayar said: “In my opinion, [the 18 million] milestone is not that significant in relation to the next halving which occurs May 2020. … On that date, the block [subsidy] will go from 12.5 BTC to 6.25 BTC.” Andreas Antonopoulos image via Christine Kim for CoinDesk Related Stories MakerDAO’s Multi-Collateral DAI Token Is Launching Nov. 18 Hyperledger Blockchain Group Weighs Changes to Fix Election Issues || Investors: Keep ECB Expectations in Check: This article was originally published on ETFTrends.com. As the markets wait in anticipation for the European Central Bank to make its monetary policy decision on Thursday, Europe ETF investors should keep hopes of a quick turnaround in check. Investors who believe European markets could strengthen but fear the currency could deprecate have turned to currency-hedged ETFs like the Deutsche X-trackers MSCI EMU Hedged Equity ETF ( DBEZ ) , iShares Currency Hedged MSCI EMU ETF ( HEZU ) and WisdomTree Europe Hedged Equity Fund ( HEDJ ) . As ETF investors seek international exposure to diversify their equity portfolio and potentially tap into more attractive plays abroad, traders should look to currency-hedged strategies as a way to capture upside potential in the global markets while hedging against potentially weakening international currencies or a stronger U.S. dollar. However, the markets are not so sure the ECB's move ahead will do much to support an ailing economy this time around. Economists largely expect the ECB to announce a key deposit rate cut of at least 10 basis points from its current level of negative 0.4%, the Wall Street Journal reports. Expectations for an increase in the size of the monthly bond purchase program have also diminished. “The market is very overexcited” about both the magnitude of the stimulus measures and the likelihood it will bolster economic activity across the Eurozone, Colin Harte, head of research in the multistrategy team at BNP Paribas Asset Management, told the WSJ. Harte argued that the sluggish Western economies are unlikely to rebound without an aggressive government-spending plan to boost employment, wages and demand for goods and services, even if the economy enjoys a looser monetary policy. “We doubt how effective monetary policy is, without fiscal expansion,” Harte added. In recent days, some have grown skeptical of ECB President Mario Draghi's intentions to hold off on offering specific details about the quantitative-easing program while others speculated that the central bank could could even include bank credit, equities and exchange-traded funds in that plan. Some also hope that the ECB could take steps to make the negative rates environment less painful for banks. Story continues Harte has even begun to pare down positions on European bonds and equities to slightly underweight from overweight on expectations that the markets might be disappointed once the ECB announces its decision. 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 Heated Tobacco May Replace Vaping Amidst Consumer Issues VanEck And SolidX Take First Steps For Bitcoin-Related ETF Approvals Could Inverse ETFs Thrive In September? Social Media Stock SNAP Gets An Upgrade Gold, Precious Metals ETFs Surge on Geopolitical Uncertainty READ MORE AT ETFTRENDS.COM > || SEC, CFTC Charge XBT Corp. With Selling Unregistered Swaps for Bitcoin: U.S. regulators filed charges against XBT Corp. Thursday, alleging the company failed to register as a futures commission merchant (FCM).
In simultaneous press releases, theCommodity Futures Trading Commission(CFTC) and theSecurities and Exchange Commission(SEC) alleged that XBT, otherwise known as First Global Credit, sold security-based swaps for bitcoin without registering on a national exchange.
According to the charges, XBT solicited or accepted futures orders from 24 U.S. customers between March 2016 and July 2017, accepting bitcoin for margin trades. The company did not register as an FCM during this time.
Related:Bitmain Seeking US IPO With Confidential SEC Filing: Report
XBT had overall at least 90 investors, who conducted more than 18,000 security-based swaps between 2014 and 2019, conducting more than $100 million in transactions “based on U.S.-listed securities,”according to a legal filing. Of that, $43.8 million in trades were made by U.S. residents.
The company will pay more than $130,000 in fees and disgorgement as part of the settlement, with the SEC taking custody of the funds over the next year. The CFTC’s press release states that the agency “recognizes that FGC’s civil monetary penalty in this matter was substantially reduced in light of FGC’s cooperation and remediation.”
XBTrolled First Credit out in October 2014, offering “contract for difference” (CFD) derivatives products allowing customers to deposit bitcoin in turn for purchasing credits representing shares in companies such as Apple.
The U.S. FBI and Swiss Financial Market Supervisory Authority (FINMA) participated in the investigation, according to the releases.
Related:SEC Blasts Kik’s ‘Void for Vagueness’ Defense of 2017 ICO
XBT did not immediately respond to a request for comment.
SECimage via Shutterstock
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[Random Sample of Social Media Buzz (last 60 days)]
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#BTC #LTC #DOGE #TRX #ETH #XRP #XRPUSD https://t.co/aawQrabyUk || Starbucks Coffee App for Purchases with Bitcoin Aims 2020 Debut https://t.co/3EPoGEkfoN #BTC || MercadoBitcoin(BTC) => R$37555 | BlockChain(BTC) => R$37481 | MercadoBitcoin(LTC) => R$230 #bitcoin #litecoin || -=[ 600.782 ]=-
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Mempool: ? || $AKRO / BTC - Huobi - UPDATE
Still haven't entered. I find deciding on a timeframe for entry and invalidation can be tricky with Huobi coins, often they just go. But for now I'm treating this as a bearish retest. Let's see what the next couple H4 candles bring. https://t.co/KFFx4B3WTJ || @DividendRaptor Yeah, I’m a Russian agent trying to promote bitcoin to kids || 명품 나이트 가라오케 로렉스 블라디보스톡 암캐 리트윗 음식 팬티 레이싱모델 겨울 최신미드 단편 아이유 게이 취재의뢰 선팔 정유미 btc 학술세미나 https://t.co/K4UpVV37Wu
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Trend: down || Prices: 8813.58, 9055.53, 8757.79, 8815.66, 8808.26, 8708.09, 8491.99, 8550.76, 8577.98, 8309.29
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2021-08-31]
BTC Price: 47166.69, BTC RSI: 54.19
Gold Price: 1815.00, Gold RSI: 57.61
Oil Price: 68.50, Oil RSI: 50.43
[Random Sample of News (last 60 days)]
Quiznos Sandwich Shops to Soon Offer Bitcoin Payment Option: BeInCrypto –
Quiznos, an international chain restaurant specializing in sandwiches, is on the cusp of accepting bitcoin payments at select locations in Denver.
Quiznos customers in the Denver area will soon be able to pay with cryptocurrency.The food chain announcedthat, in collaboration with payments provider Bakkt, Quiznos will begin accepting digital asset payments in the month of August.
Bitcoin for sandwiches
The pay-with-bitcoin pilot program will be rolled out in Denver, Colorado, and comes with incentives for trying out the payment system. Any customer who uses the Bakkt app to make a purchase at Quiznos will receive a $15 thank you in the form of bitcoin. The platform also allows for the purchase of gift cards and the Bakkt app has a built-in loyalty rewards program.
This storywas seen first onBeInCryptoJoin our Telegram Groupand get trading signals, a free trading course and more stories likethisonBeInCrypto || Bitcoin rallies as the Consumer Price Index hits 5.4% in July: ... || GBP/USD Daily Forecast – British Pound Tries To Gain Ground After Sell-Off: GBP/USDis trying to settle back above 1.3745 while the U.S. dollar is losing some ground against a broad basket of currencies.
The U.S. Dollar Index faced resistance near 93.10. If the U.S. Dollar Index settles above this level, it will gain additional upside momentum and head towards the next resistance at 93.40 which will be bearish for GBP/USD.
UK has just released inflation data for July.Inflation Rateremained unchanged on a month-over-month basis compared to analyst consensus which called for growth of 0.3%. On a year-over-year basis, Inflation Rate increased by 2% compared to analyst consensus of 2.3%.Core Inflation Rategrew by 1.8% year-over-year while analysts expected that it would grow by 2.2%.
Inflation reports may put more pressure on the British pound, but it remains to be seen whether the U.S. dollar will be able to gain additional upside momentum after yesterday’s strong move.
Meanwhile, Treasury yields are moving higher. The yield of 10-year Treasuries is trying to settle above the resistance at 1.28%. In case this attempt is successful, the yield of 10-year Treasuries will move towards the 1.30% level which may provide more support to the American currency.
GBP/USD is currently trying to rebound after yesterday’s sell-off. In order to have a chance to gain upside momentum in the near term, GBP/USD needs to settle above 1.3745.
If GBP/USD settles above this level, it will move towards the next resistance level at 1.3780. A successful test of the resistance at 1.3780 will push GBP/USD towards the resistance at 1.3800. A move above 1.3800 will open the way to the test of the resistance which is located at the 20 EMA at 1.3835.
On the support side, the nearest support level for GBP/USD is located at 1.3710. In case GBP/USD declines below this level, it will head towards the next support at 1.3690. A move below 1.3690 will push GBP/USD towards the next support which is located at 1.3665.
For a look at all of today’s economic events, check out oureconomic calendar.
Thisarticlewas originally posted on FX Empire
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• Inflation Figures and the FOMC Meeting Minutes Put the Pound, the Loonie, and the Dollar in Focus || Transitory Inflation, Dont bet on it: This article was originally published on ETFTrends.com. By David Schassler , Portfolio Manager and Head of Portfolio and Quantitative Investment Solutions, VanEck The VanEck Vectors ® Real Asset Allocation ETF (RAAX ® ) uses a data-driven, rules-based process that leverages over 50 indicators (technical, macroeconomic and fundamental, commodity price, and sentiment) to allocate across 12 individual real asset segments in five broad real asset sectors. These objective indicators identify the segments with positive expected returns. Then, using correlation and volatility, an optimization process determines the weight to these segments with the goal of creating a portfolio with maximum diversification while reducing risk. The expanded PDF version of this commentary can be downloaded here. Overview The VanEck Inflation Allocation ETF (RAAX) returned +0.14% versus +1.85% for the Bloomberg Commodity Index in June. RAAX is up 22.89% year-to-date. The top performing segment of the portfolio was resource assets, with a return of +3.27%, followed by income assets with a return of +1.13%. Financial assets led to RAAX underperforming its benchmark, with a return of -8.27 for the month. Average Annual Total Returns (%) as of June 30, 2021 1 1 Mo YTD 1 Yr 3 Yr Life (04/09/18) RAAX (NAV) 0.14 22.89 40.09 3.01 3.44 RAAX (Share Price) 0.04 22.84 39.57 2.84 3.42 Bloomberg Commodity Index * 1.85 21.15 45.60 3.91 3.54 Returns less than a year are not annualized. Expenses: Gross 1.35%; Net 0.78%. Expenses are capped contractually at 0.55% through February 1, 2022. Expenses are based on estimated amounts for the current fiscal year. Cap exclude certain expenses, such as interest, acquired fund fees and expenses, and trading expenses. The table presents past performance which is no guarantee of future results and which may be lower or higher than current performance. Returns reflect temporary contractual fee waivers and/or expense reimbursements. Had the ETF incurred all expenses and fees, investment returns would have been reduced. Investment returns and ETF share values will fluctuate so that investors shares, when redeemed, may be worth more or less than their original cost. Story continues The Bloomberg Commodity Index is a broadly diversified index that tracks the commodity markets through commodity futures contracts and is made up of exchange-traded futures on physical commodities, which are weighted to account for economic significance and market liquidity. 1 Source: Bloomberg. Please note that the returns include the distribution on the ex-date of December 29, 2020 but not the potential reinvestment that occurred on January 5, 2021. Had the returns above included reinvested distributions, the returns would have been higher. Please visit our website at https://www.vaneck.com/resources/tax-and-distributions/etfs/ for additional information. Total Return Contribution (June 2021) Total Return Contribution (June 2021) Data as of June 30, 2021. Source: Bloomberg. Past performance does not guarantee future results. Please see index descriptions in disclosure. The latest inflation report, the Consumer Price Index (CPI), came out on July 13 and it revealed that inflation is now at 5.4%. That is approaching the peak inflation levels reached in the mid-2000s. If we continue higher, our next comparisons will be to the early 1990s and the dreaded 1970s. This is causing the narrative on inflation to change. At first, many denied that inflation would ever materialize. And, for those that thought that higher inflation would occur, most expected that it would only be both modest and temporary. Now, with inflation accelerating and consistently surprising to the upside, investors should finally brace themselves for the risk that we may only be at the beginning of a prolonged period of elevated inflation. On June 28, we participated in a webcast with Tom Lydon at ETF Trends titled: Inflation is Here. Time to Get Real with Real Assets. Thank you to Tom, who was a gracious host, and to everyone who tuned in and asked great questions. For those who missed it, you can click on the replay link below: Inflation is Here. Time to Get Real with Real Assets During that webinar, we explored the idea that the inflation we are currently experiencing may not be so transitory and urged listeners to take this risk seriously and to protect against inflation with real assets. In RAAX, we recently increased our allocation to REITs and, during the webcast, we explained some of the drivers of real estate prices and how REITs should be considered as part of an allocation to inflation fighting assets. U.S. home prices are surging. On June 29, the S&P Case Shiller National Home Price Index was released for April and showed a 14.6% annual gain, which was the highest reading in over 30 years. The largest component of the Consumer Price Index (CPI) is shelter, at roughly one third of the CPI basket. Shelter is measured by rents and owners equivalent rents (rent estimates). The chart below compares U.S. existing home sales median price changes with the changes in the shelter component in the CPI basket. Rental rates lag sales data because it take time to adjust rental rates upwards. Therefore, we expect that the dramatic upswing in home prices will continue to create upward pressures on CPI. Average Weekly Earnings Total and U.S. Home Sales Average Weekly Earnings Total and U.S. Home Sales Data as of June 30, 2021. Source: Bloomberg. Past performance does not guarantee future results. Please see index descriptions in disclosure. RAAX increased its allocation to REITs from 13.5% to 16.9%. It did this by gaining exposure to REITs focused on apartments, hotels, self-storage and manufactured homes. These types of REITs may be particularly attractive during periods of higher inflation because, with short lease terms, they have the ability to reset to a higher pricing regime. RAAX also added a position in mortgage REITs because of their attractive yieldsthe 12-month yield is currently 6.77%. RAAX continues to be positioned for higher commodity prices with an approximately 50.2% allocation to resource assets. Income-producing real assets account for approximately 33.0% and financial real assets account for approximately 16.6%. The allocation to gold was reduced by 3.5%. RAAX continues to hold a sizeable gold position, at 14.7%, which includes both gold bullion and gold miners. However, the process continues to favor both resource and income-producing real assets due to relative performance. RAAX Asset Allocation Across Financial, Income, and Resource Assets (as of July 1, 2021) RAAX Asset Allocation Across Financial, Income, and Resource Assets (as of July 1, 2021) Source: VanEck. Performance Review Resource Assets The resource assets segment of the portfolio returned +3.27% in June and +27.98% year-to-date. RAAXs commodity exposure was up 3.77% and its natural resource equity holdings, in aggregate, were up 2.93%. Commodity prices were led higher by energy. Natural gas was up 22.24% and WTI crude oil was up 10.78%. Natural gas prices are facing strong upward pressures due to a supply shortage resulting from the harsh winter season, supply chain issues and the strength of the rebound in demand. Oil prices climbed above $75 per barrel as OPEC+ struggles to reach an agreement on production as demand continues to rebound. Other commodity prices were mixed during the month. Sugar and wheat were up, and corn and soybeans were down. Generally, metal prices were down, led by copper. Copper prices have more than doubled over the past year but are now giving back some of those gains. China released some of its state copper reserves to offset high prices, which put downward pressure on the metal. Within natural resource equities, traditional and sustainable energy led this segment of the portfolio higher. Traditional energy companies were higher based on higher oil prices. Sustainable energy companies, which are growth-oriented companies, are attempting to break out from their underperformance rut this year. At this point, our model views the recent outperformance of sustainable energy as only a blip on the radar. Continued relative strength would be needed to confirm that we are experiencing a rotation back to growth. Based on where we are now, that outcome seems unlikely. Companies involved in base metals and agribusiness were the largest detractors from performance. Generally, these companies were negatively impacted by the weakness in the commodity prices affecting their overall businesses. Resource Assets: Total Return and Contribution (June 2021) Resource Assets: Total Return and Contribution (June 2021) Data as of June 30, 2021. Source: FactSet. Past performance does not guarantee future results. Please see index descriptions in disclosure. Income-Producing Assets Based on 12-month yields, income-producing assets are yielding 2.94%. This segment of the portfolio returned +1.13% in June and +21.40% year-to-date. Income-producing assets benefited from falling yields and continued strength in both real estate and energy prices. The yield of the U.S. 10-Year Treasury note started the month at 1.60% and ended the month at 1.47%. RAAXs infrastructure holdings were the largest detractor in this segment of the portfolio due to uncertainty around the President Joe Bidens infrastructure plan. Income Assets: Total Return and Contribution (June 2021) Income Assets: Total Return and Contribution (June 2021) Data as of June 30, 2021. Source: FactSet. Past performance does not guarantee future results. Please see index descriptions in disclosure. Financial Assets Financial assets, in aggregate, returned -8.27% in June and have returned -10.45% year-to-date. The largest detractor in this segment of the portfolio was gold. RAAXs exposure to gold bullion, which has the largest average weighting of the financial assets, at 12.87% of the portfolio, returned -7.08%. Its exposure to gold miners returned -13.80%. Additionally, RAAXs exposure to bitcoin returned -1.36%. Financial Assets: Total Return and Contribution (June 2021) Financial Assets: Total Return and Contribution (June 2021) Data as of June 30, 2021. Source: FactSet. Past performance does not guarantee future results. Please see index descriptions in disclosure. Below are the allocation changes from June to July. These changes were due to (1) a -3.6% reduction in gold bullion with the proceeds going to REITs and (2) changes in market prices. Monthly Asset Class Changes Jul-21 Jun-21 Change Financial Assets 16.6% 20.3% -3.7% Bitcoin 1.9% 2.1% -0.2% Gold Equities 4.7% 4.7% 0.1% Gold Bullion 10.0% 13.6% -3.6% Income Assets 33.0% 29.7% 3.3% REITs 16.9% 13.5% 3.4% MLPs 6.0% 5.9% 0.2% Global Infrastructure 10.1% 10.4% -0.3% Resource Assets 50.2% 49.0% 1.2% Low Carbon Energy Equities 5.1% 4.7% 0.4% Diversified Commodities 20.6% 19.9% 0.7% Global Metals & Mining Equities 3.2% 3.4% -0.2% Steel Equities 3.6% 3.7% -0.2% Unconventional Oil & Gas Equities 4.2% 3.9% 0.3% Oil Services Equities 3.6% 3.5% 0.1% Energy Equities 4.8% 4.7% 0.1% Agribusiness Equities 5.2% 5.2% 0.0% Cash 0.2% 0.2% 0.0% Source: VanEck. The chart below shows the real asset risk composite that measures extreme risk within real assets using various quantitative signals. The current score is 4.19, which indicates a stable risk regime for real assets. Overall Risk Score Overall Risk Score Source: VanEck. High inflation may stick around for a while. Historically, during other periods of high inflation, such as the 1970s and mid-2000s, according to data from Bloomberg real assets significantly outperformed traditional assets. Now, with this period of high inflation, many real assets are once again leading the markets higher. RAAX offers investors a one-stop solution to gaining exposure to the segments of the real asset universe that performed so well during the high inflationary regimes of the past. Originally published by VanEck, 7/20/21 IMPORTANT DISCLOSURES CPI US CPI Urban Consumers YoY NSA Index measures US consumer prices (CPI) as a measure of prices paid by consumers for a market basket of consumer goods and services. The yearly (or monthly) growth rates represent the inflation rate. Please note that the information herein represents the opinion of the author, but not necessarily those of VanEck, and these opinions may change at any time and from time to time. Non-VanEck proprietary information contained herein has been obtained from sources believed to be reliable, but not guaranteed. Not intended to be a forecast of future events, a guarantee of future results or investment advice. Historical performance is not indicative of future results. Current data may differ from data quoted. Any graphs shown herein are for illustrative purposes only. No part of this material may be reproduced in any form, or referred to in any other publication, without express written permission of VanEck. This content is published in the United States for residents of specified countries. Investors are subject to securities and tax regulations within their applicable jurisdictions that are not addressed on this content. Nothing in this content should be considered a solicitation to buy or an offer to sell shares of any investment in any jurisdiction where the offer or solicitation would be unlawful under the securities laws of such jurisdiction, nor is it intended as investment, tax, financial, or legal advice. Investors should seek such professional advice for their particular situation and jurisdiction. The MVIS Global Agribusiness Index is a modified market cap-weighted index tracks the performance of the largest and most liquid companies in the global agribusiness segment. Its unique pure-play approach requires that companies have to generate at least 50% of their revenues from agri-chemicals and fertilizers, seeds and traits, from farm/irrigation equipment and farm machinery, from agricultural products (incl. Grain, tobacco, meat, poultry and sugar), aquaculture and fishing, livestock, plantations and trading of agricultural products. The MVIS Global Coal Index is a modified market cap-weighted index tracks the performance of the largest and most liquid companies in the global coal segment. Its unique pure-play approach requires that companies have to generate at least 50% of their revenues from coal operation (production, mining and cokeries), transportation of coal, from production of coal mining equipment as well as from storage and trade. The NYSE Arca Gold Miners Index is a modified market capitalization-weighted index composed of publicly traded companies involved primarily in the mining for gold. The Index is calculated and maintained by the New York Stock Exchange. The MVIS U.S. Listed Oil Services 25 Index is intended to track the overall performance of U.S.-listed companies involved in oil services to the upstream oil sector, which include oil equipment, oil services, or oil drilling. The MVIS Global Unconventional Oil & Gas Index is intended to track the performance of the largest and most liquid companies in the unconventional oil and gas segment. The pure-play index contains only companies that generate at least 50% of their revenues from unconventional oil and gas which is defined as coal bed methane (CBM), coal seam gas (CSG), shale oil, shale gas, tight natural gas, tight oil and tight sands. The DBIQ Optimum Yield Diversified Commodity Index Excess Return is an index composed of futures contracts on 14 heavily traded commodities across the energy, precious metals, industrial metals and agriculture sectors. The NYSE Arca Steel Index is a modified market capitalization weighted index comprised of publicly traded companies involved primarily in the production of steel products. The S&P Global Infrastructure Index is designed to track companies from around the world chosen to represent the listed infrastructure industry while maintaining liquidity and tradability. To create diversified exposure, the index includes three distinct infrastructure clusters: energy, transportation, and utilities. The Ardour Global Index SM Extra Liquid Index tracks a market-cap-weighted index of low carbon energy companies defined as deriving at least 50% of their revenues from alternative energy. The LBMA Gold Price Index: is a regulated benchmark administered by ICE Benchmark Administration (IBA) who provide the auction platform, the methodology and the overall independent administration and governance for the LBMA Gold Price. The LBMA Gold Price continues to be set twice daily (at 10:30 and 15:00 London BST) in US dollars and other currencies. The MSCI US IMI Real Estate 25/50 Index is designed to capture the large, mid and small cap segments of the U.S. equity universe. All securities in the index are classified in the Real Estate sector as per the Global Industry Classification Standard (GICS ® ). The index also applies certain investment limits to help ensure diversification. The Energy Sector Index seeks to provide an effective representation of the energy sector of the S&P 500 Index. The Index includes companies from the following industries: oil, gas and consumable fuels; and energy equipment and services. The MSCI ACWI Select Metals & Mining Producers Ex Gold and Silver Investable Market Index (IMI) aims to focus on companies in the industrial and rare earth metals (excluding gold and silver) that are highly sensitive to underlying prices of industrial and rare earth metals. The index includes companies that are primarily engaged in the production or extraction of metals and minerals, in the mining of precious metals excluding gold and silver (e.g. platinum), or in the production of aluminum or steel. Any indices listed are unmanaged indices and include the reinvestment of all dividends, but do not reflect the payment of transaction costs, advisory fees or expenses that are associated with an investment in the Fund. Certain indices may take into account withholding taxes. An indexs performance is not illustrative of the Funds performance. Indices are not securities in which investments can be made. An investment in the Fund may be subject to risks which include, among others, in fund of funds risk which may subject the Fund to investing in commodities, gold, natural resources companies, MLPs, real estate sector, infrastructure, equities securities, small- and medium-capitalization companies, foreign securities, emerging market issuers, foreign currency, credit, interest rate, call and concentration risks, derivatives, cryptocurrency, cryptocurrency tax, all of which may adversely affect the Fund. The Fund may also be subject to affiliated fund, U.S. Treasury Bills, subsidiary investment, commodity regulatory (with respect to investments in the Subsidiary), tax (with respect to investments in the Subsidiary), risks of ETPs, liquidity, gap, cash transactions, high portfolio turnover, model and data, management, operational, authorized participant concentration, no guarantee of active trading market, trading issues, market, fund shares trading, premium/discount and liquidity of fund shares, and non-diversified risks. Foreign investments are subject to risks, which include changes in economic and political conditions, foreign currency fluctuations, changes in foreign regulations, and changes in currency exchange rates which may negatively impact the Funds returns. Small- and medium-capitalization companies may be subject to elevated risks. Diversification does not assure a profit or protect against a loss. Investing involves substantial risk and high volatility, including possible loss of principal. Bonds and bond funds will decrease in value as interest rates rise. An investor should consider the investment objective, risks, charges and expenses of the Fund carefully before investing. To obtain a prospectus and summary prospectus, which contains this and other information, call 800.826.2333 or visit vaneck.com. Please read the prospectus and summary prospectus carefully before investing. © VanEck 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 102: Passive Public Markets | The Switch with ARK Invest A New ETF Record Reached with Five Months Left ETF Prime: Tom Hendrickson Shares Top 10 ETFs In Year-Over-Year Growth Silver Still Poised For Long Term Growth New CDC Covid-19 Guidance Spooks Stocks While Boosting Inverse Stock ETFs READ MORE AT ETFTRENDS.COM > || Razor Energy Corp. Announces Second Quarter 2021 Results: CALGARY, Alberta, Aug. 27, 2021 (GLOBE NEWSWIRE) -- Razor Energy Corp. (“Razor” or the “Company”) (TSXV: RZE) announces its second quarter 2021 financial and operating results. Selected financial, operational and reserves information is outlined below and should be read in conjunction with Razor’s unaudited condensed consolidated interim financial statements and management’s discussion and analysis for the quarter ended June 30, 2021 which are available on SEDAR atwww.sedar.comand the Company’s websitewww.razor-energy.com.
HIGHLIGHTS
Acquisition
• On August 12, 2021, the Company completed an agreement to acquire certain non-operated working interest assets in its Swan Hills, Alberta core region for a total purchase price of $5 million cash, subject to certain closing adjustments. The Assets consist of Swan Hills Unit No.1, Judy Creek Gas Plant and South Swan Hills Unit Gas Gathering System at 32.5%, 8.6% and 27.6% working interest, respectively.
Financing
• The August 12, 2021, acquisition was funded by Arena Investors, LP. Razor has signed an amended term loan agreement (“Amended Term Loan”) with Arena for an increase of US$8.8 million (CAD $11.0 million) resulting in an amended total principal amount of US$18.1 million (CAD $22.7 million). The Amended Term Loan will be amortized and repaid over a total of 37 months and will conclude in April 2024. The increase in principal will fund the purchase of the Assets, associated joint account liability and interim purchase price adjustments. The funded principal amount, after the original issuer discount is US$8.0 million (CAD $10.0 million) less related fees and expenses. Other terms of the Amended Term Loan are materially unchanged from the initial term loan.
InnovationRazor continues to identify opportunities to alternative sources of energy and manage the environmental and social impacts of our business.
• FutEra Power Corp. (“FutEra”), a subsidiary of Razor, has commenced project execution of its Co-produced Geothermal Power Generation Project in Swan Hills, Alberta (“Geothermal Project”). Stage Gate 1 is fully funded and FutEra is securing additional financing to complete Stage Gate 2. Construction of the power plant has commenced with estimated completion within the first quarter of 2022.
• Razor operates a new and responsible crypto mining operation in Swan Hills, Alberta. The project is built entirely on pre-existing assets to limit our environmental footprint. The project hosts leading energy-efficient miners and relies on natural gas generators for cleaner and more economic power than is available through the local grid and has 10 Petahash of nameplate hashing capacity.
• Razor operates a natural gas-powered electricity generation program which allows the Company to reduce its reliance on coal-biased grid electricity and has reduced GHG emissions by 6,000 tCO2 annually and has reduced electricity costs by $7.1 million since the program was implemented in 2018.
• Razor implemented cost saving measures by internalizing certain oilfield services through its subsidiary, Blade Energy Services Corp. ("Blade"), which provides services such as crude oil hauling, earthworks and environmental services. Blade conducted $1.3 million of services on behalf of Razor during the second quarter of 2021 (Q2 2020 - $0.8 million) and $2.4 million of services during the first six months of 2021 (2020 - $1.1 million).
• The Company completed construction during Q2 2021 to repurpose certain facilities in Virginia Hills to become a Waste Management Component employing bioremediation to treat hydrocarbon-impacted soils. This Soil Treatment Facility will use naturally occurring microbes to digest hydrocarbons in soils and will be integral to Razor’s Area Based Closure operations in the Virginia Hills area. The facility will begin treating its first soil in Q3 2021. FutEra is developing a pure green power supply solution for the waste management facility.
Operating
• Production volumes in the second quarter of 2021 averaged 3,145 boe/d, down 17% from the production volumes in the same period of 2020. Decreased production volumes in Q2 2021 are largely due to non-operated production temporarily shut-in at Kaybob and Southern Alberta, operated and non-operated facility turnarounds in June, temporary curtailment at South Swan Hills pending a pipeline repair, reduced spending on well reactivations and repairs throughout 2020 and into early 2021, and natural annual base decline.
• Razor commenced its 2021 operated production enhancement program in February 2021 with funds acquired from the Arena Term Loan. The Company is required to use at least US$6.7 million (CAD$8.4 million) to complete the activities outlined in an agreed upon development plan which resulted in an average production increase during the second quarter 2021 of 638 boe/d and an exit rate production increase as at June 30, 2021 of 637 boe/d.
• Net revenues were 73% higher compared to the second quarter of 2020. The decline in production in the second quarter of 2021 was offset by a 126% increase in commodity prices as compared to the same period in 2020.
Capital
• Progressed our Geothermal Project, which will be capable of generating 18 MW of grid connected power, of which up to 30 percent will be sustainable clean power generation.
Decommissioning
• In the first six months of 2021, the Company settled $1,208 thousand (twelve months 2020 - $538 thousand) of decommissioning obligations which includes $925 thousand (twelve months 2020 - $198 thousand) related to government grants received for well site rehabilitation through Alberta’s Site Rehabilitation Program (“SRP”).
2021 OUTLOOKRazor
Razor continues to look forward and plan for the future while remaining focused on its long-term sustainability. On February 16, 2021, Razor secured an extension to the AIMCo Term Loan, for an amended principal amount of $50.1 million. There were no additional proceeds received from the AIMCo Term Loan. On the same date, a subsidiary of Razor entered into the Arena Term Loan in the principal amount of US$11.0 million (CAD$14.0 million) which was subsequently amended on August 12, 2021, with the principal amount increasing to US$18.1 million ($CAD 22.7 million).
The Arena Term Loan amendment on August 12, 2021, was used to fund the acquisition of certain non-operated working interest assets in the Company’s Swan Hills, Alberta core region. Razor has intimate knowledge of the Assets through its existing working interest positions and is excited with the opportunity to consolidate assets in their core region. Razor now owns a 49.7 percent non-operated working interest in the Unit while the Operator, Canadian Natural Resources Ltd., maintains its 41.9 percent working interest. The Company will also benefit from increasing its working interest in critical area infrastructure, including the Plant and Gathering System to 38.1 and 43.9 percent, respectively. The Acquisition enables the Company to cost-effectively add long-life, industry-leading ten percent annual base decline, low-risk, light oil reserves (41oAPI), production and cash flow underpinned by an improving commodity price environment as crude oil supply/demand returns to balance in the post-COVID era.
A portion of the proceeds from the Amended Arena Term Loan will continue to be required to be used to invest US$6.7 million (CAD$8.4 million) in 2021 and 2022 on production enhancement. The Company has an extensive opportunity set of high-quality wells requiring reactivation. Most activities involve repairs and maintenance work which will be expensed for accounting purposes and operating netbacks will be reduced during this timeframe. In aggregate, the annual base decline of these wells is anticipated to be consistent with the Company’s current corporate decline of approximately 12 percent. In its history the Company has reactivated over 60 wells adding approximately 2,000 boe/d and it expects that this program will result in similar favorable metrics. The production enhancement program has resulted in an average production increase during Q2 2021 of 638 boe/d and an exit rate production increase as at June 30, 2021 of 637 boe/d.
The Company continues to focus on cost control on its operated properties. In addition to the planned production enhancement program, Razor will take a cautious and case-by-case approach to spending in 2021 and into 2022, focusing on low risk, low investment capital opportunities to increase field and corporate netbacks.
FutEra
In May 2021 FutEra Power Corp. (“FutEra”), a subsidiary of Razor entered the project execution stage of its Geothermal Project. FutEra expects the total capital cost of the Geothermal Project to be $34 million. Stage Gate 1 is fully funded. Stage Gate 2 requires additional financing which FutEra continues to seek. With both Stage Gate 1 and 2 of the Geothermal Project complete, the total nameplate electricity output will be 18 MW, of which up to 30% will be sustainable clean power generation. FutEra has partnered with provincial and federal government agencies to invigorate the emerging geothermal industry. Provincially, Alberta Innovates (“AI”) and Emissions Reduction Alberta (“ERA”), and federally, Natural Resources Canada (“NRCan”), have provided grants to complete funding. To date, Razor has received $8.6 million in government grants to support this power generation project.
FutEra has identified and is in the process of reviewing and capturing additional projects including solar, wind, and well head geothermal. As at June 30, 2021, FutEra has installed and is operating a 10 Petahash Bitcoin mining operation supplying both power generation and the behind-the-fence mining offtake installation. In addition, FutEra is in discussions with an industry resource partner to evaluate its renewable energy options and to develop a long term Environmental, Social and Governance plan.
NEAR AND MEDIUM-TERM OBJECTIVES
• Safely execute our production enhancement program and Geothermal Project.
• Reduce net debt through continued optimization of capital spending and increased efficiencies to reduce operating and general and administrative costs.
• Actively identify and consider business combinations with other oil and gas producers as well as service companies.
• Further analyze ancillary opportunities including power generating projects, oil blending and vertical services integration.
SELECT QUARTERLY HIGHLIGHTSThe following tables summarizes key financial and operating highlights associated with the Company’s financial performance.
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1) Natural gas production includes internally consumed natural gas primarily used in power generation.2) Refer to "Non-IFRS measures".3) Excludes the effects of financial risk management contracts but includes the effects of fixed price physical delivery contracts.4) Excludes production enhancement expenses incurred in the period.
SELECT QUARTERLY HIGHLIGHTS (continued)
[{"": "", "June 30,": "2021", "December 31,": "2020"}, {"": "", "June 30,": "155,385", "December 31,": "163,709"}, {"": "", "June 30,": "2,710", "December 31,": "1,098"}, {"": "", "June 30,": "62,678", "December 31,": "50,878"}, {"": "", "June 30,": "2,737", "December 31,": "3,469"}, {"": "", "June 30,": "83,260", "December 31,": "72,789"}, {"": "", "June 30,": "21,064,466", "December 31,": "21,064,466"}]
1) Refer to "Non-IFRS measures.”
OPERATIONAL UPDATE
Production volumes in the second quarter of 2021 averaged 3,145 boe/d, down 17% from the production volumes in the same period of 2020. Decreased production volumes in Q2 2021 are largely due to a number of factors including: non-operated production temporarily shut-in at Kaybob (anticipated to resume production in September) and Southern Alberta (anticipated to resume production in the fourth quarter of 2021), operated and non-operated facility turnarounds in June in Swan Hills resulting in an approximate 850 boe/day reduction for the month, temporary curtailment at South Swan Hills pending a pipeline repair anticipated to be completed in early Q4 2021, reduced spending on well and pipeline reactivations and repairs throughout 2020 and into early 2021, and natural annual base decline.
Net revenues were 73% higher compared to the second quarter of 2020. The decline in production in the second quarter of 2021 was offset by a 126% increase in commodity prices as compared to the same period in 2020. The Edmonton light sweet crude oil differential to West Texas Intermediate ("WTI") was 5% in the second quarter of 2021 compared to 23% in the same quarter of 2020. Realized NGL prices increased 139% in the second quarter of 2021 from the same period in 2020.
During the second quarter of 2021, the Company realized an operating netback of $4.50/boe, a significant improvement from the operating loss of ($0.50)/boe in the second quarter of 2020. Realized prices increased by $31.71/boe, however the impact of increased prices was offset by a significant royalty increase of $5.13/boe which is tied to the higher commodity prices, an increase in adjusted operating expenses of $16.53/boe as well as an increase in production enhancement expenses of $4.70/boe in comparison to the same period in 2020. For the six months ended June 30, 2021, the operating netback was $0.34/boe compared to an operating loss of $3.77/boe for the same period in 2020 mainly as a result of a $23.27/boe increase in realized prices which were up 78%, offset by royalty rate increases of $2.82/boe, increased adjusted operating expenses of $11.64/boe and increased production enhancement expenses of $4.23/boe.
Royalty rates averaged 13% in the second quarter of 2021 as compared to 10% for the same period in 2020 due to an increase in the Government of Alberta’s PAR prices used in the calculation of crown royalties in Q2 2021 as compared to Q2 2020 and offset somewhat by lower production in Q2 2021 compared to Q2 2020. For the six months ended June 30, 2021, royalties averaged 12% compared to 11% in the same period in 2020 mainly due to an increase in PAR prices and lower production.
Adjusted operating expenses increased $3.5 million or 48% on a total dollar basis but increased 78% on a per boe basis in the second quarter of 2021 compared to the same period in 2020 due to a 17% decrease in production. The increase in the adjusted operating expense per boe was due primarily to surface repairs and maintenance (including non-capitalized turnaround costs) which averaged $5.45/boe in Q2 2021 versus $0.17/boe in Q2 2020, fuel and electricity costs which averaged $12.01/boe in Q2 2021 as compared to $7.61/boe in 2020 and transportation and treating costs which averaged $2.44/boe in Q2 2021 as compared to ($0.10)/boe in 2020. Chemical costs were consistent and averaged $1.17/boe in Q2 2021 as compared to $0.99/boe in 2020. For the six months ended June 30, 2021, adjusted operating expenses increased $2.0 million or 10% on a total dollar basis but increased 44% on a per boe basis primarily driven by a 23% decrease in production compared to the same period in 2020.
The Company continued its production enhancement activity in Q2 2021 in response to the stronger commodity price environment. Production enhancement expenses per boe averaged $4.94/boe in the second quarter 2021 as compared to $0.24/boe in 2020. The production enhancement program has resulted in an average production increase during Q2 2021 of 638 boe/d and an exit rate production increase as at June 30, 2021, of 637 boe/d. For the six months ended June 30, 2021, production enhancement expenses averaged $6.41/boe as compared to $2.18/boe for the same period in 2020.
Razor has focused on cost control on all expenditures within its operations by implementing a procurement system, internalizing field services and producing its own electricity. Blade Energy Services Corp. ("Blade"), a wholly owned subsidiary of Razor, provides services such as crude oil hauling, earthworks and environmental services. Blade conducted $1.3 million of services on behalf of Razor during Q2 2021 (Q2 2020 - $0.8 million) and $2.4 million of services during the first six months of 2021 (2020 - $1.1 million).
The top cost drivers of the adjusted operating expenses consist of fuel and electricity, labour, property taxes, lease rentals, fluid hauling and chemicals pipeline repairs and maintenance and environmental work. The top cost drivers accounted for 54% of the adjusted operating expenses in the second quarter of 2021 (comparable costs in Q2 2020 – 72%). For the six months ended June 30, 2021, the same top cost drivers accounted for 57% of the adjusted operating expenses (comparable costs for the same period in 2020 – 79%).
The cost of electricity and fuel increased 31% in Q2 2021 as compared to the same quarter of last year mostly due to a 249% increase in average electricity pool prices which was offset by a 40% decrease in consumption, decreased reliance on non-operated fuel gas and lower production levels. For the six months ended June 30, 2021, the cost of electricity and fuel increased 13% as compared to the same period of last year mostly due to a 110% increase in average electricity pool prices offset by a 37% decrease in consumption.
Other revenue and income received during the three months ended June 30, 2021, was $0.7 million which primarily consisted of $0.5 million SRP grant income and a combined $0.2 million of road use, road maintenance and other revenue. For the six months ended June 30, 2021, other revenue and income received was $1.7 million compared to $3.3 million for the same period in 2020. The decrease for the six months is mainly due to insurance proceeds received in 2020 offset somewhat by SRP grant income received in 2021.
During the second quarter of 2021, the Company received funds from Canada Emergency Wage Subsidy of $0.3 million. These grants were recognized as a $0.15 million reduction to both general and administrative expense and a reduction of operating expenses.
For the six months ended June 30, 2021, the Company received $0.5 million ($0.7 million for six months ended June 2020) and the grants were recognized as a $0.3 million reduction to general and administrative expense and a $0.2 million reduction of operating expenses ($0.5 million and $0.2 million respectively for the six month period ended June 30 2020).
CAPITAL PROGRAM
During the second quarter of 2021, Razor invested $0.5 million in field equipment for its service company subsidiary, $1.1 million on its Geothermal Project and $0.3 million in its Bitcoin mining project. The company also capitalized $3.9 million of turnaround costs related to operated turnaround activities and non-operated turnaround activities in the quarter. As of June 30, 2021, Razor has received $7.2 million since inception in government grants to support its Geothermal Project, with an additional $1.4 million funding received in July 2021.
Razor did not initiate any projects related to finding and development capital and minimal capital reactivations were conducted during this period as the Company’s focus is on investing in its 2021 production enhancement program to increase production and cash flow.
RAZOR'S RESPONSE TO COVID-19
Razor is dedicated to ensuring the health, safety and security of its employees, contractors, partners and residents within all of its operating areas and communities. The Company is following all applicable rules and regulations as set out in Alberta Health and Health Canada guidelines to protect the well-being of all stakeholders.
About Razor
Razor is a publicly traded junior oil and gas development and production company headquartered in Calgary, Alberta, concentrated on acquiring, and subsequently enhancing, and producing oil and gas from properties primarily in Alberta. The Company is led by experienced management and a strong, committed Board of Directors, with a long-term vision of growth focused on efficiency and cost control in all areas of the business. Razor currently trades on TSX Venture Exchange under the ticker “RZE.V”.www.razor-energy.com
About FutEra
FutEra leverages Alberta’s resource industry innovation and experience to create transitional power and sustainable infrastructure solutions to commercial markets and communities, both in Canada and globally. Currently, it is developing an 18 MW co-produced geothermal and natural gas hybrid power project in Swan Hills, Alberta.
www.futerapower.com
About Blade
Blade Energy Services is a subsidiary of Razor. Operating in west central Alberta, Blade’s primary services include fluid hauling, road maintenance, earth works including well site reclamation and other oilfield services.
www.blade-es.com
For additional information pleasecontact:
Doug BaileyPresident and Chief Executive OfficerKevin BraunChief Financial Officer
Razor Energy Corp.800, 500-5th Ave SW Calgary, Alberta T2P 3L5Telephone: (403) 262-0242
READER ADVISORIES
FORWARD-LOOKING STATEMENTS:This press release may contain certain statements that may be deemed to be forward-looking statements. Such statements relate to possible future events, including, but not limited to, the Company’s ability to continue to operate in accordance with developing public health efforts to contain COVID-19, the Company’s objectives, including the Company’s capital program and other activities, including ancillary opportunities such as power generation, oil blending and services integration, restarting wells, future rates of production, anticipated abandonment, reclamation and remediation costs for 2021, possible business combination transactions, assistance from government programs including under the SRP and Canadian Emergency Wage Subsidy, commitments under the ABC program and energy management program and other environmental, social and governance initiatives. All statements other than statements of historical fact may be forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “anticipate”, “believe”, "expect", “plan”, “estimate”, “potential”, “will”, “should”, “continue”, “may”, “objective” and similar expressions. The forward-looking statements are based on certain key expectations and assumptions made by the Company, including but not limited to expectations and assumptions concerning the availability of capital, current legislation, receipt of required regulatory approvals, the timely performance by third-parties of contractual obligation, the success of future drilling and development activities, the performance of existing wells, the performance of new wells, the Company’s growth strategy, general economic conditions, availability of required equipment and services prevailing commodity prices, price volatility, price differentials and the actual prices received for the Company's products. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward- looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, risks associated with the oil and gas industry and geothermal electricity projects in general (e.g., operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; variability in geothermal resources; as the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses, and health, safety and environmental risks), electricity and commodity price and exchange rate fluctuations, changes in legislation affecting the oil and gas and geothermal industries and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures. In addition, the Company cautions that COVID-19 may continue to have a material adverse effect on global economic activity and worldwide demand for certain commodities, including crude oil, natural gas and NGL, and may continue to result in volatility and disruption to global supply chains, operations, mobility of people and the financial markets, which could continue to affect commodity prices, interest rates, credit ratings, credit risk, inflation, business, financial conditions, results of operations and other factors relevant to the Company. The duration of the current commodity price volatility is uncertain. Please refer to the risk factors identified in the annual information form and management discussion and analysis of the Company which are available on SEDAR at www.sedar.com. The forward-looking statements contained in this press release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
This press release contains future-oriented financial information and financial outlook information (collectively, "FOFI") about Razor's prospective results of operations, sales volumes, including sale of inventory volumes, production and production efficiency, balance sheet, capital spending, cost and net debt reductions, operating efficiencies, investment infrastructure and components thereof, all of which are subject to the same assumptions, risk factors, limitations, and qualifications as a set forth in the above paragraph. FOFI contained in this document was approved by management as of the date of this document and was provided for the purpose of providing further information about Razor's future business operations. Razor disclaims any intention or obligation to update or revise any FOFI contained in this document, whether as a result of new information, future events or otherwise, unless required pursuant to applicable law. Readers are cautioned that the FOFI contained in this document should not be used for purposes other than for which it is disclosed herein.
NON-IFRS MEASURES:This press release contains the terms "funds flow", "adjusted funds flow", "net blending and processing income", "net debt", "income (loss) on sale of commodities purchased from third parties", "operating netback", "corporate netback", “adjusted operating expenses” and “production enhancement expenses” which do not have standardized meanings prescribed by International Financial Reporting Standards ("IFRS") and therefore may not be comparable with the calculation of similar measures by other companies. Funds flow represents cash generated from operating activities before changes in non-cash working capital. Adjusted funds flow represents cash flow from operating activities before changes in non-cash working capital and decommissioning obligation expenditures incurred. Management uses funds flow and adjusted funds flow to analyze operating performance and leverage, and considers funds flow and adjusted funds flow from operating activities to be key measures as it demonstrates the Company's ability to generate cash necessary to fund future capital investments and repay debt. Net blending and processing income is calculated by adding blending and processing income and deducting blending and processing expense. Net debt is calculated as the sum of the long-term debt and lease obligations, less working capital (or plus working capital deficiency), with working capital excluding mark-to-market risk management contracts. Razor believes that net debt is a useful supplemental measure of the total amount of current and long-term debt of the Company. Income (loss) on sale of commodities purchased from third parties is calculated by adding sales of commodities purchased from third parties and deducting commodities purchased from third parties. Income (loss) on sale of commodities purchased from third parties may not be comparable to similar measures used by other companies. Operating netback equals total petroleum and natural gas sales less royalties and operating costs calculated on a boe basis. Razor considers operating netback as an important measure to evaluate its operational performance as it demonstrates its field level profitability relative to current commodity prices. Corporate netback is calculated by deducting general & administration, acquisition and transaction costs, and interest from operating netback. Razor considers corporate netback as an important measure to evaluate its overall corporate performance. Adjusted operating expenses are regular field or general operating costs that occur throughout the year and do not include production enhancement expenses. Management believes that removing the expenses related to production enhancements from total operating expenses is a useful supplemental measure to analyze regular operating expenses. Adjusted operating expenses may not be comparable to similar measures used by other companies. Production enhancement expenses are expenses made by the company to increase production volumes which are not regular field or general operating costs that occur throughout a year. Management believes that separating the expenses related to production enhancements is a useful supplemental measure to analyze the cost of bringing wells back on production and the related increases in production volumes. Production enhancement expenses may not be comparable to similar measures used by other companies.
ADVISORY PRODUCTION INFORMATION:Unless otherwise indicated herein, all production information presented herein is presented on a gross basis, which is the Company's working interest prior to deduction of royalties and without including any royalty interests.
BARRELS OF OIL EQUIVALENT:The term "boe" or barrels of oil equivalent may be misleading, particularly if used in isolation. A boe conversion ratio of six thousand cubic feet of natural gas to one barrel of oil equivalent (6 Mcf: 1 bbl) is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Additionally, given that the value ratio based on the current price of crude oil, as compared to natural gas, is significantly different from the energy equivalency of 6:1; utilizing a conversion ratio of 6:1 may be misleading as an indication of value.
NeithertheTSXVentureExchangenoritsRegulationServicesProvider(asthattermisdefinedinthepoliciesoftheTSXVentureExchange) accepts responsibilityfor the adequacy or accuracy of this news release. || Bitcoin Bulls Falter Despite Gaining 14% In July: For the first time since mid-May, the pioneer cryptocurrency saw its price surge above the $40,000 mark over the weekend, but the rally started to falter on Sunday.
It topped $42,000 on Saturday, but by Monday morning, had fallen back to about the $40,000 price range on the FTX exchange.
Althoughbitcoinis essentially flat over the past five days, FTX data shows it has been up 14% month-to-date, and 38% year-to-date, despite being off by about 40% from its all-time high of around $65,000 in April.
Despite dropping below $30,000 on July 20, bitcoin has surged since then, partly because investors view it as a hedge against inflation and currency values if and when the Federal Reserve stops buying $120 billion in assets a month.
Bitcoin bears were not able to hold onto the lead in July as resistance levels fell and sentiment improved as the month drew to a close.
The perpetual funding rate has continued to trade negatively as an indicator of the directional bias of futures markets.
Accordingly, there is still a net bias against Bitcoin. In particular, this measure reveals that last week’s price rally may be connected to an overall short squeeze, with funding rates remaining at even more negative levels even after the price surged 30%.
On-chain activity and transaction volumes remain extraordinarily quiet compared to the volatility of spot and derivatives markets.
A 14-day median transaction volume of $5 Billion per day for Bitcoin is low based on entity-adjusted data. Despite the decline, $16 billion per day still remains a significant sum compared to what it was before the sell-off in May.
Thisarticlewas originally posted on FX Empire
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• Natural Gas Price Fundamental Weekly Forecast – Buyers Trying to Build Base Ahead of Expected Heat || Blockchain Protocol Thorchain Loses 4K Ether in Attack: Thorchain suffered an attack that drained about 4,000 ETH from the crypto trading protocol , according to a Thursday posting on the Runebase website. The company tweeted that it would provide a “more detailed assessment and recovery steps” soon. Network administrators wrote earlier in the day in a Telegram posting the loss was more than three times that amount but updated the figure. They also wrote that the network had been halted while developers investigated the extent of the breach. Related: DeFi Hedge Fund Force DAO Attacked; FORCE Token Plunges “While the treasury has the funds to cover the stolen amount, we request the attacker get in contact with the team to discuss return of funds and a bounty commensurate with the discovery,” the administrators wrote on Telegram. Read more: Thorchain Is Ready to Grease the Wheels of Crypto-to-Crypto Trading Related Stories Nano’s Network Flooded With Spam, Nodes Out of Sync Dust Attacks Make a Mess in Bitcoin Wallets, but There Could Be a Fix Bitcoin’s Lightning Network Is Vulnerable to ‘Looting’: New Research Explains || Market America Worldwide SHOP.COM's 2021 International Convention Kicks Off the Next Chapter Of Business Innovation by Introducing Global Cryptocurrency Purchasing on All SHOP.COM Sites, and So Much More: GREENSBORO, NC / ACCESSWIRE / August 30, 2021 /From Aug. 26-28, thousands of entrepreneurs from around the world experiencedMarket America Worldwide|SHOP.COM'sannual International Convention (#MAIC2021) from the comfort of their own homes or, once again, in person at the Greensboro Coliseum in Greensboro, North Carolina.
Following current Centers for Disease Control and Prevention (CDC) guidelines as well as state and local guidelines, this year's International Convention was held as a hybrid event, allowing entrepreneurs from around the world to experience and begin the next chapter of business innovation. Among several groundbreaking new products launched at #MAIC2021 and a host of powerful presentations from the company's executive leadership, a new SHOP LIVE sales tool was unveiled that gives the company's distributors, known as UnFranchise®Owners (UFOs), the ability to sell products during their live streaming shows through clickable icons. In another key enhancement, the company introduced its partnership with Sezzle, a new payment method that allows online shoppers in the U.S. the ability to "buy now, pay later" over six weeks with no interest. And astounding all attendees was news that all SHOP.COM sites from around the world will now accept cryptocurrency as a form of payment via BitPay.
On Thursday, Aug. 26, President & COO of Market America Worldwide Marc Ashley took the main stage to launch a number of new and relevant exclusive Market America products, includingNeuro Focus™,which is formulated with clinically supported ingredients to optimize brain vitality. Neuro Focusoffers the functional ingredients often referred to as nootropics, which are ingredients that may help or support cognitive function in healthy adults; in particular, executive functions, memory, creativity and motivation. Neuro Focus was formulated to support mental agility and help consumers get things done without mental exhaustion.* Ashley also launchedHeart Health™ Blood Pressure and Vascular Support, a cutting-edge formula ideal for individuals looking to support healthy blood pressureor maintain blood pressure within a normal range for their age group.* Among other new products launched at #MAIC2021,Shopping Annuity®Brand Premium Wellbeing Teawas unveiled as an invigorating and refreshing herbal tea with a balance of botanicals like ashwagandha and licorice for helping push through day-to-day routines. It's ideal for those who want a supportive tea to enhance their health practice and keep up with the demands of the day.
On Friday, Aug. 27, Ashley brought even bigger news to all attending #MAIC2021 by giving new details about SHOP LIVE, a virtual, interactive, live-streaming shopping experience that Ashley has called "the biggest and best tool" the company has ever released. With SHOP LIVE, UFOs can launch their own live online meeting, talk about the products they love and share clickable "buy-it-now" links in the meeting itself. SHOP LIVE is powered byVerb Technology Company, Inc.(Nasdaq: VERB),the leader in interactive video-based sales enablement applications, including interactive live-stream e-commerce, webinar, CRM and marketing applications for entrepreneurs and enterprises.
At an #MAIC2021 booth in Greensboro that was also available virtually to online attendees, UnFranchise Owners were able to see firsthand how to set up the clickable in-video icons for their SHOP LIVE live streams. These clickable icons let live-stream guests purchase products with "buy-it-now" buttons, receive additional product information, schedule follow-up appointments, and access other customizable, interactive features, for a fun, social, and friction-free experience. Even more exciting to UFOs is that those from different organizations can attend the same SHOP LIVE event and still have each customer's purchase applied back to the appropriate UFO.
"As an example, when a UFO, say Dennis, invites customers to a SHOP LIVE event and they click on a product icon, we know that Dennis invited them. He's getting the retail profit for that purchase," said Ashley at #MAIC2021. "But if I'm a UFO and I follow Dennis's team, but I'm not in his organization and I invite customers and prospects and other UFOs from my organization to watch Dennis's SHOP LIVE, and some of these people click on the products from Dennis's live stream, guess what? I get the credit for it. SHOP LIVE comes with a tracking system that knows that the purchases came from my organization. And the retail profit doesn't go to Dennis's site. It goes to mine!"
Also new for #MAIC2021, attendees were able to connect with experts at the Sezzle booth. Sezzle(SZL)is a financial technology company and highest-rated "buy now, pay later" online payment provider that allows online shoppers the convenience of paying in four easy installments over six weeks with zero interest. Now, Market America Worldwide | SHOP.COM's partnership with Sezzle offers this unique and valuable way for UFOs, their customers and consumers to shop online.
"It's easy to use," said Amy DeBerry, Enterprise Senior Account Manager. "You can download the app or go online and sign up, get what you want and put it in your cart and select Sezzle at checkout. You pay 25% of your purchase today and then the remaining payments are spaced out in equal payments over the next six weeks. There's no interest and there are no fees. There's no impact to your credit score and we give instant approval decisions. Market America Worldwide | SHOP.COM, I can honestly say you're great partners. It is such a collaborative partnership."
The continued success of the UnFranchise Business and of the Shopping Annuity - the company's signature program that enables smart shoppers to convert money they already spend on everyday purchases into supplemental income - was the primary focus at International Convention. Founder, Chairman & CEO of Market America Worldwide | SHOP.COMJR Ridinger, who created the Shopping Annuity as the backbone of the UnFranchise Business, shared what UFOs can expect the next chapter of their UnFranchise Businesses to look like. Additionally, #MAIC2021 attendees got an exclusive first look at some of the hottest new and exclusive Market America products launching throughout the remainder of 2021 that will also prove valuable to help build UFOs' businesses in the first quarter of 2022.
Continuing on Friday, Aug. 27,Loren Ridinger, Co-Founder & Senior Executive Vice President of Market America Worldwide | SHOP.COM, also took the stage and got personal about the difference between having dreams and reaching them.
Photo of Senior Executive Vice President of Market America Worldwide |SHOP.COMand the Founder of Motives® cosmetics, Loren Ridinger
"When other people are living their dreams, it's because they are doing the things that get them the results," said Loren Ridinger. "They're not coming up with excuses or reasons why they can't. Judge a tree by the fruit it bears. In my yard, we have four big apple trees. Some are green. Some are red. One of them wasn't doing so well this year. My granddaughter Ayva, who is six, said to me, ‘Mimi, that tree over there needs to stop coming up with excuses and start producing results.' And I said, ‘You got that right.'"
Loren, who is also the founder of theMotives®line of cosmetics, had some extraordinary beauty products that were unveiled at #MAIC2021, including the Motives Sublime Eye Shadow Palette that's just in time for the return of more in-person social activities. Even if you need to keep the celebrations to a tight-knit group, you still need to bring on the glam. Motives Sublime Luminizing Jelly is the perfect addition to the Sublime Eye Shadow Palette. This jelly-like gloss is a multitasking highlighter, designed to be worn over makeup to add a glossy look to eyes, cheekbones, lips, collarbones, everywhere! Among several other #MAIC2021 beauty must-haves, the new Motives Hand-Held Mixing Palette is the product beauty lovers will use again and again to mix and create endless new colors and shades. Whether you use the palette to mix serum/SPF into your foundation, mix one of the new Sublime Luminizing Jellies with your favorite eye shadow or just to apply product to keep the back of your hand free of unwanted stains, you will find more ways than one to take advantage of this innovative tool. It cleans off easily with a makeup wipe or your favorite cleaner.
Not to be missed on Saturday, Aug. 28 was Steve Ashley, President & COO of SHOP.COM, who officially announced the use of cryptocurrency as the next chapter in purchasing products on all SHOP.COM sites.
"Today I'm announcing that SHOP.COM is going to be offering Bitcoin, Ethereum and several other cryptocurrencies through BitPay," said Ashley. "We're going to be offering this at SHOP.COM sites worldwide in all of our Market Countries. We went with BitPay because they are the industry leader. They are the world's largest in Bitcoin and crypto payment services."
"SHOP.COM and Market America are such great brands," said Sonny Singh, BitPay Chief Commercial Officer. "What I really like about them as such a great fit is because of your international presence. The fact that you're only doing 40% of your volume in America means it's a really global brand. In countries like Taiwan, Thailand, Argentina, Brazil and Indonesia, it's very hard to make payments. Credit cards are not everywhere and in those countries BitPay and crypto is the cheapest, quickest payment option to accept Bitcoin and to receive crypto payment options as well."
"When you take the people power that comes from the thousands of UnFranchise Owners in eight Market Countries and combine it with the different enhancements we shared with you this weekend, it's easy to see why the UnFranchise Business resonates with people all over the globe. We are leading the parade as we always have done, ahead of the curve yet again. This time with cryptocurrency! As different online retailers scramble to create a plan of action to implement things like accepting cryptocurrency as a method of online payment, thanks to Steve Ashley - we've already done that," said JR Ridinger, Founder, Chairman & CEO of Market America Worldwide | SHOP.COM. "The key is to take what you've learned here and apply it to your business going forward. Holding yourself accountable and helping others to achieve milestones can help your own success fall naturally into place. From the bottom of my heart - I hope it happens for you, but I also hope you realize it's going to take action on your part to accomplish your goals. We've given you the roadmap but only YOU can walk the path. Your journey to success awaits. This is the next chapter."
*These statements have not been evaluated by the Food and Drug Administration. These products are not intended to diagnose, treat, cure or prevent any disease.
Earnings discussed are atypical and the success of any UnFranchise Owner will depend upon the amount of hard work, talent and dedication which he or she devotes to building his or her Market America business. For typical earnings, seewww.market-america.info/mais
About Market America Worldwide | SHOP.COM
Market America Worldwide | SHOP.COM is a global e-commerce and digital marketing company that specializes in one-to-one marketing and is the creator of theShopping Annuity. Its mission is to provide a robust business system for entrepreneurs, while providing consumers a better way to shop. Headquartered in Greensboro, North Carolina, and with eight sites around the globe, including the U.S., Market America Worldwide was founded in 1992 by Founder, Chairman & CEO JR Ridinger. Through the company's primary, award-winning shopping website, SHOP.COM, consumers have access to millions of products, including Market America Worldwide exclusive brands and thousands of top retail brands. Further, SHOP.COM ranks 19thinNewsweekmagazine's 2021 Best Online Shops, No. 52 in Digital Commerce 360's (formerly Internet Retailer) 2021 Top 1,000 Online Marketplaces, No. 79 in Digital Commerce 360's 2021 Top 1,000 Online Retailers and No. 11 in the 2021 Digital Commerce 360 Primary Merchandise Category Top 500. The company is also a two-time winner of theBetter Business Bureau'sTorch Award for Marketplace Ethics and was ranked No. 15 in The Business North Carolina Top 125 Private Companies for 2020. By combining Market America Worldwide's entrepreneurial business model with SHOP.COM's powerful comparative shopping engine,Cashback program, Hot Deals,ShopBuddy®, Express Pay checkout, social shopping integration and countless other features, the company has become the ultimate online shopping destination.
For more information about Market America Worldwide:MarketAmerica.com
For more information on SHOP.COM, please visit:SHOP.COM
About VERB
Verb Technology Company, Inc. (Nasdaq: VERB) transforms how businesses attract and engage customers. The Company's Software-as-a-Service, or SaaS, platform is based on its proprietary interactive video technology, and comprises a suite of sales-enablement business software products offered on a subscription basis. Its software applications are available in over 60 countries and in more than 48 languages to large enterprise and small business sales teams that need affordable, easy-to-use, and quick-to-get-results sales tools. Available in both mobile and desktop versions, the applications are offered as a fully integrated suite, as well as on a standalone basis, and include verbCRM (Customer Relationship Management application), verbLIVE (Interactive Livestream eCommerce and Video Webinar application), verbTEAMS (a Self On-boarding version of verbCRM with built-in verbLIVE and Salesforce synchronization for small businesses and solo entrepreneurs), verbLEARN (Learning Management System application), and verbMAIL (an interactive video mail solution integrated seamlessly into Microsoft Outlook). The Company has offices in California and Utah. For more information, please visit:www.verb.tech.
Follow VERB here:VERB on Facebook:https://www.facebook.com/VerbTechCo/VERB on Twitter:https://twitter.com/VerbTech_CoVERB on LinkedIn:https://www.linkedin.com/company/verb-tech/VERB on YouTube:https://www.youtube.com/channel/UC0eCb_fwQlwEG3ywHDJ4_KQDownload verbMAIL here:verbMAIL on Microsoft AppSource Store
About BitPay
Founded in 2011, BitPay celebrates its 10th birthday this year as one of the oldest cryptocurrency companies. As a pioneer in blockchain payment processing, the company's mission is to transform how businesses and people send, receive, and store money. Its business solutions eliminate fraud chargebacks, reduce the cost of payment processing, and enable borderless payments in cryptocurrency, among other services. BitPay offers consumers a complete digital asset management solution that includes the BitPay Wallet and BitPay Prepaid Card, enabling them to turn digital assets into dollars for spending at tens of thousands of businesses. The company has offices in North America, Europe, and South America and has raised more than $70 million in funding from leading investment firms including Founders Fund, Index Ventures, Virgin Group, and Aquiline Technology Growth. For more information visitbitpay.com.
BY USING THIS CARD YOU AGREE WITH THE TERMS AND CONDITIONS OF THE CARDHOLDER AGREEMENT AND FEE SCHEDULE, IF ANY. This card is issued by Metropolitan Commercial Bank (Member FDIC) pursuant to a license from Mastercard International. "Metropolitan Commercial Bank" and "Metropolitan" are registered trademarks of Metropolitan Commercial Bank ©2014.
Mastercard is a registered trademark and the circles design is a trademark of Mastercard International Incorporated.
About Sezzle Inc.Sezzle is a rapidly growing fintech company on a mission to financially empower the next generation. Sezzle's payment platform increases the purchasing power for millions of consumers by offering interest-free installment plans at online stores and select in-store locations. Sezzle's transparent, inclusive, and seamless payment option allows consumers to take control over the spending, be more responsible, and gain access to financial freedom. When consumers apply, approval is instant, and their credit scores are not impacted, unless the consumer elects to opt-in to a credit building feature, called Sezzle Up.This increase in purchasing power for consumers leads to increased sales and basket sizes for the more than 40,000 Active Merchants that offer Sezzle. For more information visitSezzle.com.For additional assets and news on Sezzle please visithttps://my.sezzle.com/news/Follow Sezzle on social media:LinkedIn|Instagram|Facebook|TwitterSezzle Media
CONTACT:Erin ForanTel:(651) 403-2184Email:[email protected]
Related Linkshttps://www.sezzle.com
SOURCE:Market America Worldwide
View source version on accesswire.com:https://www.accesswire.com/662093/Market-America-Worldwide-SHOPCOMs-2021-International-Convention-Kicks-Off-the-Next-Chapter-Of-Business-Innovation-by-Introducing-Global-Cryptocurrency-Purchasing-on-All-SHOPCOM-Sites-and-So-Much-More || El Salvador Unveils Banking Regulations For Bitcoin, Says Bitcoin Use Is Optional: El Salvadors Bitcoin adoption is expected to become official in less than three weeks, and the government has now published a draft to guide banks on how to handle the cryptocurrency. El Salvador Publishes Banking Regulations For Bitcoin The El Salvador central bank, Banco Central de Reserva (BCR), has published two documents designed to help financial institutions in the country deal with Bitcoin . The guidelines would make it easier for banks to understand how to offer Bitcoin-related services to their customers. The first document roughly translates as Guidelines for the Authorization of Operation of the Digital Wallet Platform for Bitcoin and Dollars. The document defines Bitcoin as a legal tender after the legislation was passed a few months ago. Following the approval of the bill, Bitcoin is set to become an official legal tender in El Salvador on September 7. The second document is called Technical Standards to Facilitate the Application of the Bitcoin Law, and it contains details on how financial institutions and banks should offer Bitcoin services to their customers. Per the regulation, financial institutions would have to apply to the El Salvador central bank if they wish to offer digital wallets. Furthermore, the applications are required to contain details on the type of products the banks would be offering, the target market, risk assessments, charges to customers, various complaint processes and education resources for the customers. The banks would make it easy for people to convert Bitcoin to US Dollars and vice versa. The financial institutions are also required to ensure customers go through the standard Know-your-customer (KYC) verification processes. They also need to implement anti-money laundering (AML) procedures when dealing with Bitcoin. Bitcoins Use Is Optional El Salvadors finance minister Alejandro Zelaya pointed out earlier this week that the use of Bitcoin is totally optional. According to the minister, the US Dollar remains the dominant currency in El Salvador, but Bitcoin is available as an option for people that want to use it. Story continues BTC/USD chart. Source: FXEMPIRE Bitcoin has been in a bearish mode for the past few days, with its price down by 0.67% over the past 24 hours. Currently, Bitcoin is trading just above the $44k mark, dropping from the $47k level it attained during the weekend. This article was originally posted on FX Empire More From FXEMPIRE: Macys Stock Price Rallying After Delivering Huge Earnings GBP/USD Price Forecast British Pound Breaks Through Support USD/CAD Daily Forecast Test Of Resistance At 1.2790 Natural Gas Price Forecast Natural Gas Markets Break Minor Support Crude Oil Price Forecast Crude Oil Markets Gapped Lower Gold Price Forecast Gold Markets Continue to Dance Back and Forth Under Resistance || Square (SQ) Q2 Earnings Beat Estimates, Revenues Rise Y/Y: Square, Inc. SQ reported second-quarter 2021 adjusted earnings of 66 cents per share, beating the Zacks Consensus Estimate by 106.3%. Further, the figure rose 266.7% year over year and 60.9% sequentially. Net revenues of $4.68 billion improved 143% from the prior-year quarter. However, the figure declined 7.4% from the previous quarter and missed the Zacks Consensus Estimate of $5.02 billion. Year-over-year revenue growth was driven by strong momentum across the Cash App ecosystem, which contributed $3.33 billion to net revenues in the reported quarter, up 177% year over year. Solid momentum across bitcoin was the key catalyst. Without bitcoin revenues, net revenues would amount to $1.96 billion, up 87% year over year. Strong growth in transaction, subscription and hardware revenues contributed well to the results. Square witnessed solid traction across the seller ecosystem, which generated $1.31 billion of revenues, up 81% year over year. Accelerating gross payment volume (GPV) drove the results. However, uncertainties related to the pandemic remain concerning. Nevertheless, the companys strengthening momentum across online channels, sellers and the Cash App is expected to act as tailwinds in the days ahead. Square, Inc. Price, Consensus and EPS Surprise Gross Payment Volume GPV in the second quarter amounted to $42.8 billion, up 88% from the year-ago quarter. This was driven by strength across the seller ecosystem. Notably, seller GPV accounted for 90% of the total GPV in the second quarter. Seller GPV was up 86% year over year. The robust performance of the Cash App, which accounted for $4.1 billion of the overall GPV (10%), remained a positive. The figure increased 107% year over year. The card-not-present GPV witnessed year-over-year growth of 41% in the second quarter. Robust online channels, including Square Online, Invoices, Virtual Terminal and eCommerce API, contributed to the upside. Square experienced a strong recovery in its card-present volumes in the reported quarter, owing to rising consumer spending and regional reopenings. Card-present GPV was up 128% from the year-ago quarter. Story continues Top-Line Details Transaction (26.3% of net revenues): The company generated transaction revenues of $1.23 billion, up 80% year over year. Strong seller ecosystem accounted for $1.12 billion of transaction revenues, up 78% year over year. The robust performance of the Cash App contributed $111 million to transaction revenues, up 107% year over year, owing to the rising number of transactions as well as business accounts. Subscription and services (14.6% of revenues): The company generated $685.2 million in revenues from the category, surging 98% from the year-ago quarter. The improvement can be attributed to a strong performance by the Cash App, which contributed $495 million to the categorys top line. The figure was up 83% from the year-ago quarter. Seller ecosystem contributed $151 million to subscription and services revenues, up 101% year over year. Positive contributions from the TIDAL acquisition benefited the top line forthis category. Hardware (0.9% of revenues): Square generated revenues of $43.7 million from thebusiness, up 126% year over year. This was driven by strong unit sales of hardware devices like SquareRegister and Square Terminal. Bitcoin (58.2% of revenues): The company generated revenues of $2.72 billion from thecategory, up significantly from $211.2 million. Square continued to benefit from the bitcoin space, driven by the increasing adoption of the Cash App. Rising bitcoin prices alongwith solid customer demand and increasing bitcoin actives were major positives. Operating Details Per management, gross profit grew 91% from the year-ago quarter to $1.14 billion. However, gross margin contracted 662 basis points (bps) year over year to 24.4%. Adjusted EBITDA was $360 million in the reported quarter, up 268% year over year. Operating expenses were$1.02 billion, jumping 64% from the prior-year quarter. Product development expenses were $327 million, up 57% year over year primarily due to rising headcount and personnel costs in engineering, data science and design teams. General and administrative expenses were $221 million, up 62% from the prior-year quarter. This was primarily caused by finance, legal, compliance and support personnel costs. Sales and marketing costs were $375 million, up 58% year over year due to an increase in Cash App marketing expenses and a hike in advertising, personnel and other costs. Balance Sheet As of Jun 30, 2021, the cash and cash equivalent balance was $4.6 billion, up from $3.02 billion as of Mar 31, 2021. Short-term investments were $1.01 billion in the reported quarter, up from $644.4million in the previous quarter. Long-term debt was $4.8 billion, increasing from $2.9 billion in the previous quarter. Zacks Rank & Stocks to Consider Currently, Square has a Zacks Rank #4 (Sell). Some better-ranked stocks in the broader technology sector are Microchip Technology MCHP, Semtech Corporation SMTC and Agilent Technologies A, each currently carrying a Zacks Rank #2 (Buy). You can see the complete list of todays Zacks #1 Rank (Strong Buy) stocks here. Long-term earnings growth rates for Microchip, Semtech and Agilent are currently projected at 15.33%, 12.5% and 13%, respectively. 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 Agilent Technologies, Inc. (A) : Free Stock Analysis Report Microchip Technology Incorporated (MCHP) : Free Stock Analysis Report Semtech Corporation (SMTC) : Free Stock Analysis Report Square, Inc. (SQ) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 48847.03, 49327.72, 50025.38, 49944.62, 51753.41, 52633.54, 46811.13, 46091.39, 46391.42, 44883.91
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2019-05-14]
BTC Price: 7994.42, BTC RSI: 86.18
Gold Price: 1294.70, Gold RSI: 56.00
Oil Price: 61.78, Oil RSI: 46.79
[Random Sample of News (last 60 days)]
Pro-Bitcoin Ohio Bill Promotes Government Adoption of Blockchain: The state of Ohio is embracing blockchain tech. | Source: Shutterstock By CCN.com : A bill introduced this week in the Ohio House of Representatives urges government entities to adopt blockchain, the technology underpinning bitcoin. Republican state representative Rick Carfagna sponsored the bill. The legislation, called House Bill 220, is part of Ohio’s plan to provide a legal framework for distributed ledger technology such as blockchain (see text below). Rep. Carfagna did not return CCN’s calls for comment. The legislation would enable the establishment of a decentralized online record for transactions such as car titles or hunting licenses, according to Cleveland.com . Ohio has been making strides to become more crypto-friendly as part of a major effort to woo tech entrepreneurs to transform the state into a blockchain hub. ohio blockchain bill house 220 Ohio wants to woo tech entrepreneurs In August 2018, Governor John Kasich signed a bill that recognized the use of blockchain-based transactions as having legal bearing in a court of law. The bill made Ohio one of the first U.S. states to provide legal protection to companies developing new uses for blockchain. Read the full story on CCN.com . || E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis – Trader Reaction to 26509 Will Set Tone on Monday: June E-mini Dow Jones Industrial Average futures finished slightly better on Friday after giving up most of its earlier gains. The price action suggests investors had some trouble with the U.S. Non-Farm Payrolls report. Although the headline number beat the forecast and unemployment remained at a low level, investors raised concerns over the slow growth of wages. On Friday, June E-mini Dow Jones Industrial Average futures settled at 26394, up 6 or +0.02%. According to the U.S. Bureau of Labor Statistics, the economy added 196,000 jobs in March, better than the 175,000 jobs estimate. The U.S. unemployment rate, meanwhile, remained at 3.8%. However, wage growth expanded 3.2%, below an expected gain of 3.4%. Daily June E-mini Dow Jones Industrial Average Daily Swing Chart Technical Analysis The main trend is up. It turned up on April 1 when buyers took out three main tops at 26145, 26200 and 26263. This levels are new support. A break below them won’t indicate a change in trend, but it will indicate the buying is weakening, or the selling is getting stronger. A trade through 26509 will signal a resumption of the uptrend. The main trend will change to down on a trade through 25377. The main trend is safe at this time, but Monday will mark the 10 th day up from the last swing bottom, putting the Dow inside the window of time for a closing price reversal top. If formed and confirmed, this could lead to the start of a 2 to 3 day correction. The short-term range is 25377 to 26509. Its retracement zone at 25943 to 25809 is a potential downside target. Daily Swing Chart Technical Forecast Based on Friday’s price action and the close at 26394, the direction of the June E-mini Dow Jones Industrial Average futures contract is likely to be determined by trader reaction to Friday’s high at 26509. Bullish Scenario A sustained move over 26509 will indicate the presence of buyers. If this move generates enough upside momentum then look for the rally to possibly extend into the October 3, 2018 main top at 26988 over the near-term. Story continues Bearish Scenario A sustained move under 26509 will signal the presence of sellers. If this move leads to a series of lower-highs, and lower-lows then look for the selling pressure to possibly extend into the 50% level at 25943. Closing Price Reversal Top Set-Up Given the prolonged move up in terms of price and time, Monday’s session begins with the Dow in the window of time for a potentially bearish closing price reversal top. Taking out 26509 then closing below 26394 will form this chart pattern. This article was originally posted on FX Empire More From FXEMPIRE: Crypto Bulls Show Their Claws Going into the 2nd Quarter Another Crypto Brokerage Firm Receives the Hard to Get BitLicense Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 06/04/19 Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 07/04/19 Natural Gas Price Fundamental Weekly Forecast – Ripe for Short-Covering, but Gains Likely to be Capped by Storage Build AUD/USD Forex Technical Analysis – Price Action Being Controlled by Series of Retracement Levels || South Korea: Bithumb Exchange Operator Gains $200 Million From Japanese Investment Fund: The parent company of major South Korean cryptocurrency exchange Bithumb has received $200 million in funding from Japans ST Blockchain Fund, the latter confirmed in a press release shared with Cointelegraph Japan on April 15. The cash, which forms part of a Series A funding round, will allow Blockchain Exchange Alliance (BXA) to expand the international side of Bithumb, which is already one of South Koreas largest exchanges. New trading pairs will also appear, the press release notes. ST Blockchain Fund is based in Japan, but features participation from investors throughout the world, including Europe and the United States . The fund shared our vision of creating a global digital exchange platform that can efficiently transfer value across borders with lower costs, which was the key rationale behind this investment decision, BXA stated in the press release. The move comes in the wake of upheaval at Bithumb, which suffered losses of around $13 million late last month in what executives suggested was an insider operation to defraud the company. The company subsequently released results of a third-party public audit, reassuring investors their funds were in suitably secure storage. Prior to that, in 2018, a much larger hack had seen Bithumb lose what initially appeared to be around $30 million, the figure subsequently being reduced to $17 million. As Cointelegraph reported last week, the company's annual losses for 2018 totalled almost $180 million. ST thus removes any doubt about its faith in the local market with the investment, as increasing Bitcoin ( BTC ) prices spark fresh interest from South Korea consumers. Last week, the so-called Kimchi Premium a surcharge for Bitcoin in fiat terms on South Korean exchanges reportedly reappeared after an extended absence. Related Articles: Bithumb Announces External Audit Results in Wake of $13 Million Hack Bithumb Losses Totalled $180 Million in 2018 Bear Market, Company Reports Rakuten Begins Registrations for Cryptocurrency Exchange Ahead of June Launch Major Japanese Fintech Firm Halts Plans to Launch Crypto Exchange, Citing Bear Market || Warren Buffett Can’t Catch the S&P, Seems Envious of Bitcoin’s Success: ByCCN: Far be it from this columnist to criticize one of the most successful stock market investors of all time, but maybeWarren Buffett’sjust jealous of bitcoin. A stock market genius who began investing at 11 year’s old, Buffett’s company Berkshire Hathaway is now trailing the S&P 500. That’s got to hurt.
Worse, over the past decade, investors would have been better off putting their money into the S&P 500 than his company’s stock. TheFinancial Times, which interviewed Buffett, did the math, saying investing $1 into each Berkshire Hathaway and an S&P fund 10 years ago would be worth $2.40 and $3.20 today, respectively. Ouch.
Not to pour salt in the wound, but unlike Berkshire Hathaway, bitcoin – which Buffett once referred to as “rat poison squared” – has been trouncing the stock market. Maybe it’s not bitcoin that’s dangerous to the health of investors.
The S&P 500 has outperformed Warren Buffett’s stock year-to-date. | Source: Yahoo Finance
For more than five decades, Berkshire Hathaway outperformed the S&P 500 “by 2.5 million percentage points,” according to the FT. That’s why it’s so shocking that the stock has lagged over the last 10 years.
Meanwhile, asCCN previously reported, bitcoin’s returns of more than 400% over the last two-years far surpass the approximately 20% returns generated by the S&P 500. If Buffett’s stock can’t beat the S&P 500 for investors, no wonder he’s got an axe to grind with bitcoin, which is doing just that.
Read the full story on CCN.com. || Rock Star Litecoin: Charlie Lee Rails Against S**t Coins and Scam Coins: ByCCN: It’s not easy beingCharlie Lee. It’s no secret the Litecoin creator has had to deal with a crypto community that hasn’t gotten over his LTC portfolio sale. But he’s also fending off other blockchain projects, many of which have no place in the ecosystem to begin with. Lee took out his frustrations on Twitter, bemoaning the struggle to keep Litecoin in the limelight.
“Watch Litecoin surviving the test of time. It’s not easy fighting off all the s**tcoins and scamcoins to stay in the top 10.”
Litecoin is currently ranked as the fifth-biggest cryptocurrency on CoinMarketCap, though it continues to jockey for position among its peers.
In the DataLight visualization, Litecoin holds its own against other cryptocurrencies over the past six years. Lee’s project was the second-biggest cryptocurrency in 2013, followed by Peercoin and Namecoin. If you haven’t heard of the latter two coins, it’s probably because they’re both ranked somewhere between the top 200-300 coins today. Eventually, XRP muscled its way in until Ethereum showed up and told them who was boss. Meanwhile,Litecoin, which Lee created as digital silver to bitcoin’s gold, has managed to maintain a spot in the top 10 cryptocurrencies since 2013.
Incidentally, some people have a similarly scathing opinion about Litecoin, which was created using a variation of Bitcoin’s code. Derivatives trader Tone Vays doesn’t have time for any other coins, based on a recent tweet in which he eviscerates any project that is not bitcoin. He calls out Litecoin in addition to privacy coin Monero as “waste of time useless projects.”
Read the full story on CCN.com. || Bitcoin Tumbles After Officials Allege $850 Million Fraud: The cryptocurrency markets buckled on Thursday evening after New Yorks attorney general accused the owners of a prominent exchange, Bitfinex, of using illicit transactions to mask $850 million in missing funds. According to a 23-page legal filing , Bitfinex raided the reserves of a so-called stablecoin called Tethera digital currency purportedly backed one-to-one by U.S. dollarsin order to pay out customers demanding withdrawals from the exchange. The news caused Bitcoin to fall nearly 6% to around $5,100, and raises questions about the viability of Tether, which many investors use as a surrogate for dollars to move in and out of different cryptocurrencies. The attorney generals filing says the funds raided from Tether amount to $850 million. According to Chad Cascarilla, who is head of a company called Paxos that makes a rival stablecoin, that figure would account for at least 27% of Tethers dollar reserves. Instead of U.S. dollars, the $850 million is instead backed by a revolving line of credit from the exchange Bitfinex. But as Thursdays filing explains, Bitfinex appears to have borrowed that amount in order to cover a shortfall of its own. The filing also reproduces messages written by a Bitfinex executive last August, which plead for capital from a Panamanian payment processor to which it had transferred funds. The situation looks bad. We have more than 500 withdrawals pending and they keep coming in
[T]oo much money is parked with you and we are currently walking on a very thin crust of ice, reads a message from a Bitfinex executive who used the name Merlin. Merlin also warns his contact, Oz, that the situation posed a grave threat to the larger crypto industry and that Bitcoin could tank to below $1,000 if they didnt act quickly. The exact identity of the Panamanian payment processor, Crypto Capital, is unclear. According to the attorney general, Bitfinex, which is incorporated in the British Virgin Islands, relied on a shadowy network of money agents, including human being friends of Bitfinex employees that were willing to use their bank accounts to transfer money to Bitfinex clients. Story continues Bitfinex did not immediately respond to a request for comment about the allegations. The filing also states that Bitfinexs banking arrangements became severely strained in March 2017 after Wells Fargo told the company it would no longer facilitate wire transfers between Bitfinex and Tether. Bitfinexs operations, including its connections to Tether, have long been a subject of rumor and controversy. While the executives have claimed the two entities operated at arms length, the attorney general challenges this claim, and points out that the same individuals appear to control both of them. In its filing, the attorney general describes an investigation that has been underway for months, and seeks numerous documents to learn whether New York investors are being exposed to ongoing fraud from Bitfinex and Tether. The attorney generals operation is civil in nature but, as the office regularly cooperates with the FBI and other federal agencies, it is possibleif the facts alleged are truethat criminal charges could be forthcoming. Meanwhile, law enforcement appears to scrutinizing stablecoins more closely. According to research firm Chainalysis, the company recently responded to police requests by adding tracking software for four stablecoins, including Tether. The fallout for investors from all this remains to be seen. Cascarilla, of Paxos, noted that most of those exposed to Tether are in Asia, and added that a crisis in confidence in the currency could result in short-term liquidity problems in the cryptocurrency markets. He also said the episode points to the need for crypto investors to rely on exchanges and stablecoins that comply with U.S. regulations. Update : Trade publication The Block reported on Friday morning that $185 million worth of cryptocurrency has been withdrawn from Bitfinexs cold wallets, which are the crypto equivalent of storage vaults. Its unclear if the withdrawals represent customers pulling their money from Bitfinex or if they are internal corporate transfers. || SSGA High-Yield Fixed Income ETFs to Undergo Changes: This article was originally published onETFTrends.com.
State Street Global Advisors, the asset management business of State Street Corporation (STT), will enhance its two high-yield bond ETFs--theSPDR Bloomberg Barclays High Yield Bond ETF (JNK) andSPDR ICE BofAML Crossover Corporate Bond ETF (CJNK) .
As part of the changes, a 1:3 reverse share split will be implemented to reduce trading costs for JNK. In addition, CJNK will change its index strategy and name, and decrease its expense ratio by 25 basis points to provide investors with low cost, broad high-yield exposure.
“With over $400 billion in indexed fixed income assets and more than 100 fixed income professionals, we are a leader in fixed income investing. As such, we are continuously looking for opportunities to develop and refine solutions that better meet the needs of investors,” said Noel Archard, global head of SPDR product. “JNK’s increased share price will appeal to investors who favor its large trading volumes and optionality, and with CJNK’s lower expense ratio and new index strategy, we are able to offer diversified, low cost exposure to investors who view high yield as a strategic asset class in buy-and-hold portfolios.”
Reverse Share Split to Reduce Trading Costs
The 1:3 reverse share split for JNK raises its share price to approximately $105, helping to reduce trading costs for clients seeking liquid exposure to high yield bonds. The shares will trade at their post-reverse split price effective May 6, 2019.
As a result of the planned action, shareholders of JNK have the potential to hold fractional shares. Furthermore, the treatment of those shares will be dependent upon custodial relationships, with some shareholders receiving cash in lieu of fractional shares.
Lower Expense Ratio and New Index Strategy
Effective on April 1, 2019, the SPDR ICE BofAML Crossover Corporate Bond ETF will change its underlying index, fund name and net expense ratio as detailed below.
[{"Current Fund Name (Ticker)": "SPDR ICE BofAML Crossover Corporate Bond ETF (CJNK)", "Current Index": "ICE BofAML US Diversified Crossover Corporate Index", "New Fund": "SPDR ICE BofAML Broad High Yield Bond ETF (CJNK)", "New Index": "ICE BofAML US High Yield Index", "Gross Expense Ratio": "0.40%", "New Gross Expense Ratio": "0.15%", "Share Price (No Change)": "$25.58 1"}]
State Street Global Advisors’ SPDR ETF offering now includes 140 US-listed SPDR ETFs representing over $601 billion in assets.
"As a matter of good business practice, we, at State Street Global Advisors, are always looking to identify improvements to our investment offerings that will enhance the success of our clients and ensure that together we are well-positioned for long-term growth," SSG said in a FAQ document. "Similar to past product enhancements, these changes are aimed at ensuring our products are fit for purpose, are competitive in the marketplace and reflect how investors are using ETFs to create flexible, efficient and sophisticated portfolios to meet client needs."
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READ MORE AT ETFTRENDS.COM > || Natural Gas Price Forecast – Natural gas markets test 200 day EMA: Natural gas markets fell rather hard during the trading session on Friday, reaching down towards the 200 day EMA. That’s an area that of course has a lot of technical importance at times, but as you can see when you zoom out, the chart is clearly consolidating over the longer-term, but you need to pick out the best trades and obvious areas to get involved. NATGAS Video 25.03.19 Looking at the chart, I believe that the $2.60 level will be the beginning of significant support, extending down to the $2.50 level. If we were to break down below the $2.50 level, that would be an extraordinarily bearish sign. However, I suspect it’s going to be very difficult to imagine a scenario where that happens. If we did though, we would probably go down to the $2.25 level. On the other side, the market has significant resistance at the $2.90 level, extending to the $3.00 level. That is an area that could offer quite a bit of selling. In the meantime, we are simply in the middle of the range, and I think that will continue to be something that we should pay attention to, and not get involved. Simply selling at the highs and buying at the Lowes has worked for some time, so of course that’s the best way to trade this market. As we are in the middle, I’m on the sidelines and waiting for an opportunity to get involved again. Please let us know what you think in the comments below This article was originally posted on FX Empire More From FXEMPIRE: USD/CAD Daily Price Forecast – US Dollar To Retain Positive Price Action Crude Oil Weekly Price Forecast – Crude oil markets form reversal signal Bitcoin And Ethereum Daily Price Forecast – Major Crypto Coins Rebound On Bear’s Incompetence Helped GBP/USD Weekly Price Forecast – British pound pulls back for the week but finds buyers in the end Crude Oil Price Update – Close Under $58.82 Produces Potentially Bearish Closing Price Reversal Top Natural Gas Price Prediction – Prices Drop on Warm Weather Forecast || How MinerGate is making mining accessible to everyone: MinerGate has had its fair share of controversy. A software with a user-friendly interface that enables anyone to mine using their PC , regardless of their background or technical skills, was never going to go unnoticed. MinerGate was the first to introduce the concept of public mining pools. It puts together the processing power of all the PCs on the network and splits the profits from mining. Currently, MinerGate is one of the friendliest pools in the crypto ecosystem, with over 3.7 million active users worldwide. A one-size-fits-all mining platform For much of the crypto community, mining is a huge business. Miners today invest serious cash in hardware and use mining rigs to make profits. These are more efficient than a regular computer. Moreover, huge mining facilities have been taking over. These facilities include thousands of mining rigs and implement cost-effective power solutions to supply the necessary energy for these machines. For anyone looking to mine coins for fun or even to make some money, it’s now impossible to keep up with the market. There’s barely any room left for individuals to mine crypto from their laptops. MinerGate enables users to mine without investing in hardware just by using their home CPU or GPU. Built on the CrytoNote protocol, the platform allows its clients to mine for various coins, such as Bytecoin, Litecoin, Bitcoin Gold, Zcash, Ethereum, Ethereum Classic, Monero, and GRIN. The software comes with an informative FAQ page and, according to its users, good customer support. At the same time, users can withdraw as little as 0.01 of a coin and safely deposit it in their wallets. Software for newbies MinerGate is easy to set up even for non-technical users. All you need to do is download the software and install it on your computer. It will do the rest for you. MinerGate analyses the network hash rates and your PC’s technical features and determines the most profitable coins for you to mine. It automatically switches to a new cryptocurrency when the one previously selected is no longer the top choice for mining. Story continues For beginners who don’t have the knowledge or technical skills to make profitable decisions, it’s an excellent way of learning more about different cryptocurrency ecosystems and how to operate with different coins. Moreover, the platform comes with an integrated digital wallet where users can store their coins if they don’t have hardware wallets yet. Thanks to its two-factor authorisation feature, the platform guarantees that your digital assets are safe until you find more appropriate storage solutions . Thanks to its characteristics, MinerGate ranks among the top ten mining software worldwide. However, the community continues to see the platform as a good choice for beginners, rather than a trustworthy mining partner in the long run. The downside? Despite the platform’s high usability, the crypto community has been spreading the news that MinerGate isn’t as simple as it looks. There’s no doubt it makes mining accessible to everyone who owns a computer and has an internet connection. But most miners with some experience in crypto are looking for more than a pretty UI. Moreover, some miners question MinerGate’s credibility. This is because some of its features lack transparency, and also because the community often associates the platform with the 2018 Bytecoin scam . Even though the platform has a good reputation for paying the right amounts on time, there are plenty of rumours about its inefficiency. Some even say that MinerGate is stealing hash power from its users. Its fees are also relatively high, compared with its competitors. Another pain point arises from the fact that the software is a closed source programme. For people who aren’t tech-savvy, this means that it can’t be audited for safety. In other words, when you decide to run the MinerGate programme, there’s no guarantee of what is running on your computer and whether it collects data stored on your device. If you keep your passwords on your computer, a closed source programme can turn into a serious risk to your privacy. Final thoughts on MinerGate An easy-to-use and install software that enables newbies to mine is an excellent way of capturing the attention of new people, as well as encouraging them to try investing in cryptocurrency. At the same time, it helps to keep blockchains decentralised – since mining has become an activity reserved for a limited number of facilities that control the networks. MinerGate makes mining accessible to everyone. More than 3.7 million users are a good indication that the platform is a reliable choice for miners. However, more transparency on how the software runs on personal computers could help MinerGate gain more trust inside the crypto community. The post How MinerGate is making mining accessible to everyone appeared first on Coin Rivet . || European Equities: Economic Data out of China Spurs the Bulls into Action: Economic Calendar: Monday, 1 st April 2019 Spanish Manufacturing PMI (Mar) Italian Manufacturing PMI (Mar) French Manufacturing PMI (Mar) Final German Manufacturing PMI (Mar) Final Eurozone Manufacturing PMI (Mar) Final Eurozone CPI y/y (Mar) Prelim Eurozone Core CPI y/y (Mar) Prelim Tuesday, 2 nd April 2019 Spanish Unemployment Change Eurozone Unemployment Rate (Feb) Wednesday, 3 rd April 2019 Spanish Services PMI (Mar) Italian Services PMI (Mar) French Services PMI (Mar) Final German Services PMI (Mar) Final Eurozone Markit Composite PMI (Mar) Final Eurozone Services PMI (Mar) Final Eurozone Retail Sales (MoM) (Feb) Thursday, 4 th April 2019 German Factory Orders (MoM) (Feb) ECB Monetary Policy Meeting Minutes Friday, 5 th April 2019 German Industrial Production (MoM) (Feb) The Majors A bullish end to the quarter on Friday came on what was a relatively busy day on the economic calendar. Better than expected retail sales and unemployment numbers out of Germany provided plenty of relief, though it wasn’t all positive. Spain’s economy grew at a slower pace than had been previously estimated. Consumer spending in France also disappointed, though the fall in spending may have had more to do with protests. In spite of the mixed numbers, risk appetite supported Friday’s gains to end the quarter on a high note. When considering the negative sentiment surrounding the Eurozone economy, the CAC and DAX gained 13.1% and 9.2% respectively over the quarter. Not bad considering the doom and gloom and the effects of the ongoing trade war between the U.S and China. There wasn’t much red on the DAX at the end of the week, with Daimler and Volkswagen seeing amongst the best returns on the day. In spite of the upward momentum, both Deutsche Bank and Commerzbank saw red once more. The pullback bucked the trend from the sector, with BNP Paribas managing a 1.49% rise and Italy’s UniCredit S.p.A rising by 0.88%. The upward moves came as the U.S Treasury 3-month / 10-year inverted yield curve returned to a positive yield curve. While Theresa May stumbled at a 3 rd time of asking, the UK Parliament rejecting her deal once more, positive updates from the U.S – China trade talks supported risk appetite on the day. The Day Ahead It’s a busy day ahead on the economic calendar. Finalized manufacturing PMI numbers are due out of France, Germany, and the Eurozone. Ahead of the finalized figures, the one-time monthly release of manufacturing PMI numbers out of Spain and Italy will also be in focus. Influence will come from any revisions to Germany’s manufacturing PMI, with Italy’s PMI to also have an impact. Story continues While we can expect some influence from the numbers, better than expected manufacturing PMI numbers out of China from the weekend and this morning have ultimately set the tone. The China manufacturing sector’s return to expansion can only be a good thing for the Eurozone, which has been under China’s dark shadow since late last year. Of less influence on the majors will be the Eurozone’s prelim inflation figures for March. Core inflation is unlikely to edge too far beyond 1.0%, which continues to sit well below the ECB’s target. The lack of inflation will ultimately allow the ECB to ease policy further should the need arise. Through the U.S session, February retail sales figures and the March ISM manufacturing PMI could sour the mood should the numbers be weaker than forecast. How much impact any disappointing numbers will have remains to be seen, however. China’s doom and gloom and concerns over trade talks have weighed on risk appetite. Positive sentiment towards both should deliver strong gains barring another yield curve inversion. At the time of writing, the DAX30 futures were up by 115.5 points, with the CAC40 futures was up by 53.5 points. U.S Treasury 3-month yields stood at 2.38% at the time of writing, while 10-year yields stood at 2.43%, supporting a 162 point rise in the Dow Jones mini early on. This article was originally posted on FX Empire More From FXEMPIRE: Bitcoin And Ethereum Daily Price Forecast – Crypto Market Consolidates Weekend Gains It’s Risk On as China Manufacturing PMI Pulls Out of Contraction Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 01/04/19 Oil Price Fundamental Daily Forecast – Bullish Tone as Positive Chinese Factory Data Lifts Sentiment The Pound Struggles Over Brexit, While Risk Appetite Drives the Pack Forex Daily Outlook – April 1, 2019 View comments
[Random Sample of Social Media Buzz (last 60 days)]
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Trend: down || Prices: 8205.17, 7884.91, 7343.90, 7271.21, 8197.69, 7978.31, 7963.33, 7680.07, 7881.85, 7987.37
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2020-07-16]
BTC Price: 9132.23, BTC RSI: 44.44
Gold Price: 1798.70, Gold RSI: 58.93
Oil Price: 40.75, Oil RSI: 59.38
[Random Sample of News (last 60 days)]
Expecting a spike in bitcoin? Investors say it may take time: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Investors expecting a sudden surge in bitcoin's price, after it underwent a technical adjustment three weeks ago that reduced the rate at which new coins are generated, may have to wait a few months, or perhaps a few years. Bitcoin traded in narrow ranges after it went through a third so-called halving on May 11, which cut the rewards given to those who "mine" bitcoin to 6.25 new coins from 12.5. There were some expectations that bitcoin would soar, similar to what happened after the two previous adjustments as the "halving" effectively decreased its supply. The virtual currency has gained 11% since the adjustment, but it had more down days than up days and analysts said technical momentum overall was negative. In contrast, bitcoin had soared more than 40% from January this year until the "halving." On Thursday, bitcoin was at $9,783. It breached $10,000 twice after the "halving" but retreated as it found tough resistance at that level. "Bitcoin is on a see-saw, between bulls and bears," said Nicholas Pelecanos, head of trading at NEM Ventures. "On one end, we have network data and technicals; the other, strong fundamentals and a correlation to U.S. stock indices." He added that bitcoin's network data is flashing more bearish than bullish signals, as he expects further short-term selling. Beyond the short term though, many investors expect a price surge. The first halving, in November 2012, catalyzed a rally for bitcoin from about $10 to $1,160 in 12 months. The second halving, in July 2016, saw bitcoin jump more than 300%, from $650 to $2,800 within the same time span. "It may take six to 12 months for investors to reap the rewards of post-halving price movements," said Lennard Neo, head of research at Stack Funds. "In reality, there is a significant time lag between the halving event and the establishment of renewed market equilibrium based on general supply and demand," he added. Story continues Since miners' profits have contracted as block rewards decreased by 50%, the "halving" has affected the supply side of bitcoin and increased the time needed for miners to find their break-even point. Once this is found, Stack's Neo said, bitcoin is likely to realize its "halving-induced" price appreciation. Investors are also banking on higher institutional demand to further propel the price of bitcoin. Fund flows into the biggest crypto asset managers have been robust in the midst of the coronavirus pandemic. "When we look at institutional inflows for our products and that of another asset manager, what you're seeing are purchases that have now outstripped, for the first time, new bitcoins being created by 150%," said Danny Masters, chairman of CoinShares, with $1 billion in crypto assets. Michael Sonnenshein, managing director at Grayscale with $4 billion in crypto assets under management, said since April the firm's bitcoin investment fund has ballooned to $3.5 billion as of June 2, from $2 billion at the end of the first quarter. "There's a lot of momentum and interest in investing in digital currencies particularly in the face of uncertainty, the pandemic, political tensions, and the amount of stimulus being pumped into the global economy," said Sonnenshein. James Wo, chairman of Digital Finance Group, a $500 million crypto and blockchain fund, likens bitcoin to digital gold, and as such, the digital currency has barely scratched the surface. "Bitcoin has great potential to grow," said Wo. "Gold has an eight trillion-dollar valuation, while bitcoin has less than $200 billion dollars in valuation. It just needs more time for mainstream adoption. People need enough time to fully understand and believe in it." (Reporting by Gertrude Chavez-Dreyfuss; Editing by Alden Bentley and Steve Orlofsky) || Famous Twitter Accounts Hacked to Spread Bitcoin Scam: Click here to read the full article. This is not the kind of change Barack Obama was asking for: On Wednesday afternoon, Twitter users en masse saw a whirlwind of scam tweets from famous accounts, urging followers to send money by clicking suspicious bitcoin links. The list of compromised accounts reads like a who’s who plucked from the headlines, with the former President, Kim Kardashian, Kanye West, Wiz Khalifa, Bill Gates, Elon Musk, Joe Biden, Mike Bloomberg, Jeff Bezos, Apple and Uber, among others, being targeted. More from WWD M1992 Men’s Spring 2021 The malicious exploit looks like a massive, coordinate attack linked to Wednesday’s hack of cryptocurrency firms, such as Coinbase and Binance. Now Twitter is scrambling to figure out what happened. In a tweet sent Wednesday afternoon, the tech company pledged to look into the “security incident.” We are aware of a security incident impacting accounts on Twitter. We are investigating and taking steps to fix it. We will update everyone shortly. — Twitter Support (@TwitterSupport) July 15, 2020 As of this writing, the attack is ongoing. The strange tweets, first spotted coming from the accounts of Elon Musk and Bill Gates, urge followers to send $1,000 in Bitcoin to a supplied link, with promises to pay back twice the amount of the “contribution.” As of early Wednesday evening, the malicious actors — or “black hats,” in tech parlance — appear to have racked up a dozen Bitcoins worth more than $100,000. Various verified accounts were unable to tweet Wednesday afternoon through the evening, as Twitter looked into the issue. But at this point, the company announced that it has unfrozen most of them. This is not the first time Twitter accounts have been breached. In 2013, its systems were hacked, giving black hats access to usernames and encrypted passwords covering some 250,000 users. And in 2018, Target was hacked in another Bitcoin scam that went out to the retailer’s nearly 2 million Twitter followers. Others, from the Bears to Burger King and Jeep, have been attacked. Story continues In some cases, incidents involved hacks of third-party platforms that manage social accounts, or unauthorized access due to human behavior. Even the founder of Twitter is not immune. Last year, Jack Dorsey’s account was hijacked, thanks to a “SIM swap” attack. This type of exploit usually involves an employee from a cellular carrier changing the number tied to a smartphone’s SIM card to another phone. In that case, texted security codes then re-route to other people, giving them access. It’s not clear what type of hack was used here, but it’s a sure bet that Twitter engineers are racing to find out. || Blockchain Bites: Bitmain’s Shakeup, Bitcoin’s Resilience and Ethereum’s Anonymity: Staff at Bitmain now have a decision to make: whether to return to the office and which executive they choose to take orders from. Micree Zhan Ketuan, the Bitmain co-founder who was ousted in a coup by his rival Wu Jihan last October, sent out a letter addressed to Bitmain employees via his WeChat feed on Thursday, saying he had returned to the company’s Beijing office starting from June 3. He further called for staffers at Bitmain to return to the office to join him and said he will “lead the company to complete an initial public offering as soon as possible and push Bitmain’s market capitalization to over $50 billion in the next three to five years.” Due to the impact of the coronavirus outbreak, most of Bitmain’s Beijing staff have been working from home since earlier this year. A video circulating online and verified by Chinese crypto media source BlockBeats shows that Zhan led a group of private guards and forcefully entered Bitmain’s office in Beijing on Wednesday. According to one Bitmain employee, who spoke to CoinDesk under the condition of anonymity, Zhan was also handing out cash bonuses worth 10,000 yuan ($1,500) to those returning yesterday and 5,000 yuan ($700) for those that turned up today. The news marks the latest twist in Bitmain’s bitter internal fight which has cast doubts among investors and customers over the management of the world’s largest bitcoin miner manufacturer. Recently the dispute even descended into physical confrontation between the management factions as Zhan regained his official status as a legal representative of the Beijing Bitmain Technology Limited, the main operating entity of Bitmain. Twin seals Related: Bitmain’s Feuding Co-Founders Are Fracturing the Firm and Staff Are Caught in the Middle Going by Zhan’s letter on Thursday, it also looks like there’s been a “hard fork” of the company’s official seal, of which there are now appears to be two. Story continues Early last month, as Zhan recovered his status as legal representative of Beijing Bitmain, he was entitled to receive a new business license for the company issued by a Beijing government agency that oversees corporate registrations. However, at the time, Zhan was not in possession of the official seal of Beijing Bitmain. In China, a company’s official seal is as important as the role of the legal representative in terms of signing a company’s decision into effect. Forging an official seal is an offense under China’s criminal laws. Since the tussle at the government office, Bitmain has been discussing with staff the transferring of their employment contracts from Beijing Bitmain to another parallel subsidiary, Beijing Guiyuan Dalu, according to one person familiar with the plan. Like Beijing Bitmain, the new entity is wholly owned by Bitmain Technologies Hong Kong and was officially registered on May 26. But the legal representative of Beijing Guiyuan Dalu is not Zhan. On May 27, it was reported by Chinese crypto media that Zhan had issued a document on May 25 in an effort to fire Liu Luyao from his role as Bitmain’s CFO, who was also involved in the May confrontation. The document, signed by Zhan, did not bear the official seal of Bitmain. On the same day, Beijing Bitmain issued a statement with the official seal via its WeChat account, saying Zhan had no authority to act as a legal representative to give notices or directions to its staff. The firm further said it was in possession of the effective official seal with a serial number of 1101070056574 and no employees should take Zhan’s directions or otherwise it will take legal actions. However, Zhan’s June 4 letter bears a different official seal for Beijing Bitmain with a serial number of 1101081651178. Zhan also posted a statement on June 3 saying the previous seal – ending in 6574 – had been voided. In the latest chapter of the saga, Bitmain issued a statement via its official WeChat account on Wednesday accusing Zhan of forging an official seal of the company and said it has hired lawyers to take legal action against him. Zhan already has ongoing legal cases against Bitmain regarding his voting power in the company in the Cayman Islands, where Bitmain’s ultimate controlling holding entity resides. EDIT (14:49 UTC): Added new information about bonuses being offered for returning to work. Related Stories Internal Struggle at Bitcoin Mining Giant Bitmain Escalates to Physical Confrontation Jihan Wu || Bitcoin News Roundup for June 9, 2020: CoinDesk columnist Nic Carter is a partner at Castle Island Ventures, a venture fund based in Cambridge, Mass., that focuses on public blockchains. He is also the co-founder of Coin Metrics, a blockchain analytics startup.
There are, to put it reductively, two schools of thought on the topic of property rights on internet platforms. The first goes something like this:
Systems like Facebook, Twitter, Google and the like are private platforms, run and administered by corporate entities, and those entities may control the contents of those platforms as they see fit. This extends to banning, censorship, arbitrary content removal, alteration and so on. None of these internet oligopolies “owe anyone a platform” and they have no obligation to amplify any particular voices. If you don’t like it, build an alternative and compete in the free market.
While this is by far the most popular view expressed on the topic, very occasionally you might hear an alternative, dissenting opinion. It goes like this:
Internet oligopolies are not just “social media platforms.” They are novel, alternative jurisdictions where users settle and build social and commercial relationships. While they are not physically instantiated, they are genuine places,with all the considerations that entails. Terms of service in these digital frontiers actually constitute legal systems, albeit poorly codified and unaccountable ones. What users do when they occupy handles and build out reputations and social graphs on these systems is create property. Thus censorship, de-platforming, and the like must be understood as eminent domain and expropriation, rather than a mundane application of rules.
Under this alternative view, espoused by thinkers likeElaine Ou,Allen FarringtonandBalaji Srinivasan, Facebook, Twitter, et al, did not really create all the content on their platforms, nor do they really own it. Instead, they define a namespace that users occupy, build upon, and in some cases commercialize. The users, not the administrators, create the vast majority of the value, and as such are the rightful owners of their digital property.
You might think this is crazy. But in a sense squatters asserting their property rights against an authority that lays a blanket claim to them would be nothing new. That’s the legal struggle that defined the history of the American continent. (For a full treatment, see chapter five of Hernando De Soto’s “Mystery of Capital.”) Initially, large tracts of land were claimed primarily by the states and absentee landowners. Over time, squatters were able to argue persuasively they had put sufficient labor into their homesteads to legally ratify their informal claims. On the internet, asserting rights to property has proved more challenging, giving rise to our present reality where content creators are providers rather than owners.
Related:Your Property Rights Should Extend to Social Media
See also: Nic Carter –The Last Word on Bitcoin’s Energy Consumption
The default narrative has suffered some blows lately. The rise of more intrusive fact-checking on platforms like Twitter, Facebook and Instagram has called into question their neutrality. The emphasis on algorithmic curation of content rather than linear timelines allows the architects of these systems to pick winners and losers, selectively boosting topics of their choosing. The growth of implicitly state-controlled platforms like TikTok, whereChina-directed censorshipis a key design feature, has made it clear these systems are powerful tools for power projection. And the consolidation of internet platforms into static oligopolies — Facebook and Google jointly control at least60% of the digital ad market— has dented the theory that users can simply just move elsewhere.
In the face of this overt politicization of purportedly neutral platforms, the theory of digital property rights that stresses the primacy of the individual (i.e. the second view) looks decidedly more attractive. But what exactly are the moral grounds upon which individuals can formalize a claim to their digital property? Lockean theory (see Elaine Ou above) posits that mingling one’s labor with some unallocated natural resource – for instance, by tilling the soil and growing crops – endows an individual with the bequeathable right to that property. The most controversial element of Locke’s theory stipulates the enclosure of some land for the purpose of creating property is morally acceptable if that enclosure doesn’t disadvantage anyone else. In Locke’s words:
Nor was this appropriation of any parcel of land, by improving it, any prejudice to any other man, since there was still enough and as good left, and more than the yet unprovided could use.
Now, if you consider the American frontier, the process of enclosure required the forcible expulsion of the local Native American population, so the proviso appears problematic at best in that context. But in the context of the post-scarcity digital frontier, Locke’s proviso holds weight: Creating an account on Twitter hardly disadvantages anyone. By creating a new, infinitely extensible frontier, an unambiguous moral case exists for the enclosure and allocation of property, without the precondition of violence.
I don’t expect the property view of digital platforms to be persuasive to all. Even so, it functions well descriptively. Instead of accepting the fraying default view you can simply begin to imagine all of the internet platforms that exist today as a constellation of digital nations, each with their own legal code and with varying levels of respect for the property of users.
On the internet, asserting rights to property has proved more challenging, giving rise to our present reality where content creators are providers rather than owners.
Unfortunately, property rights on the largest platforms are both poorly codified (the Terms of Services are crazy shifting sands, arbitrarily sanctioning user behavior, implemented by unaccountable bureaucrats) and notoriously weak. Users cannot easily extricate their social graphs and followers should they choose to leave; they find themselves deprived of their commercially and socially valuable property at a moment’s notice with no recourse and they cannot influence decision-making. To make a political analogy, virtually all of these digital worlds operate as pre-democratic feudal regimes, with every participant a digital serf who tills the land at the pleasure and discretion of a capricious feudal lord.
The property view equips us to better understand digital society. We can expect that if the major platforms continue to operate as unaccountable fiefdoms, users will gravitate towards systems that are more politically stable, those that enumerate and define therightsof users (rather than just listing, Ten Commandments-style, various bannable offenses), and enshrine genuine protections of property.
Understood this way, it’s clear the current largest internet platforms are taking an unsustainable approach to digital governance. If the administrators of these systems were forward-looking, they would seek to stabilize the legal structure of their systems and clearly lay out the rights of users, as no one wants to build on a shifting foundation. It’swell establishedthat something as basic as a legal philosophy (for instance, the presence of common versus civil law) has far reaching impacts on economic growth. And thanks toDe Soto, we know that giving individuals the ability toformalizea claim to some property they own is the genesis of productive and healthy capitalism. So it stands to reason that the first platform to carefully codify rules and give users strong guarantees over their property will gain market share.
See also: Nic Carter –How Blockchains Become Great Big Garbage Patches for Data
The popular internet platforms most likely cannot make this transition. They exist in a very real political context and are coerced into following local laws and intervening in political disputes by selectively banning individuals and de-boosting particular topics. Since internet platforms grant governments almost infinite leverage when it comes to controlling speech,infiltrating and co-optingthose companies is an urgent, active priority for state actors.
We wonder whether any alternatives to these shoddy systems are emerging. The good news is that some diligent entrepreneurs have been pursuing this vision for some time now. In 2009, a group of cypherpunks created a system of property that was user-defined, issued freely and fairly, one in which ownership was a function of one’s knowledge of cryptographic secrets. The slots in the ledger didn’t mean anything, but they came to possess financial value — because society unsurprisingly treasured a system of property which was state and oligarch independent. In a sense, Bitcoin offers some of the strongest protections for digital property ever devised, shrugging off state rules and making eminent domain, civil asset forfeiture, inflation, censorship and other forms of implicit and explicit seizure extremely difficult to impose.
Other builders took inspiration from Bitcoin’s treatment of property rights, envisioning systems in which knowledge of a private key is the arbiter of identity, instead of an entry in the database of a Silicon Valley megacorp. This is the idea underscoring the Web 3.0 movement, which has stagnated since its popularization in 2017/18. But the concept is profound: equip users to formalize their own social graph and tie a reputation to an online entity with the absolute right to withdraw or migrate should they be mistreated by their local platform administrator. The precise form this will take is not clear. But it is an idea whose time has come.
• Bitcoin Is a Big Opportunity for Investors in the Debt-Fueled Roaring Twenties
• Why Family Offices Should Consider Digital Assets for Their Portfolios || Global CEO of RRMine Spoke on TerraCrypto: BTC Halving is the opportunity to Level Up for Cloud Mining Platform: HONG KONG, CHINA / ACCESSWIRE / May 20, 2020 /TerraCrypto global online mining conference has been held in Russia on May 19th, 2020.
TerraCrypto is the largest forum on digital mining and trading in the CIS and the TerraCrypto team has organized industry forums in the cities of Kazan, 4 events in Moscow, Irkutsk, Nur-Sultan, Frankfurt and Hong Kong before. At the TerraCrypto event in 2019, there were 2,149 participants, 214 speakers, 117 companies, 3 memorandums of cooperation were signed, and thousands of networking talks were held.
In TerraCrypto 2020, the global industry leaders, professionals, experts and investors ranging from mining pools, digital assets trading platforms, investment agencies, etc. will attend this conference. Such as Jason Zhuang, CEO of BTC.com, Thomas Heller, Global Business Director of F2Pool, Peter Tylczynski, SVP of Business Development of MineBest and many other high profile persons will sit together and explore the development and opportunities of mining ecology after having to boost the booming development of mining ecology of blockchain.
Meanwhile, the Global CEO of RRMine Steve Tsou has attended this conference and addressed a speech on the topic:BTC Halving,Opportunity to Level Up for Cloud Mining Platform;
The rebalance of mining industry leads to the dimension improvement of computing power
Steve pointed out that halving would eliminate a number of small and medium-sized miners with limited ability to withstand risks, and the mining industry would be rebalanced. At present, the industrial chain of computing power has been relatively complete, and the rebalance of the mining industry will lead to the ascend of the computing power industry. The market performance after halving will not only be an opportunity to prove the deep value of computing power, but also a good Opportunity to Level Up for Cloud Mining Platform;
Steve also stressed that halving is a good thing for a platform which is well-prepared in advance. After three years of operation, RRMine has gained a sufficient understanding of risks and made good preparations for halving, continuously improved its technology and anti-risk capability and made an early deployment of scale and globalization to break out of the unique mode of global computing asset management and trading platform.
RRMine remains bullish on computing power market and will help users cope with the risks in multiple dimensions.
1.Users'income will be improved through the ascending of Computing Power Provision.
Through three years of stable operation, RRMine platform has effectively utilized the dynamic law of computing power market, kept hoarding computing power, satisfied the supply of computing power, and has the ability to reward users. RRMine is full of confidence in the future of the market. As early as March 15, the whole RRMine platform had fully given away computing power to users. Even on the day of halving with the time of lowest production, the revenue made by per T of users was still higher than the average level of the market, which helped users to pass through the halving stably and would not be greatly affected.
2.Computing Power assets are assessable due to the ascending of the contract value..
In China, RRMine Computing Power contract assets can be evaluated by traditional authoritative institutions, and derivative financial services can be carried out by third-party platforms, so as to truly achieve the new contract assets valuations through the perceptive of traditional assets valuation, it also makes the intangible computing power assets been accepted by the traditional financial market and improve the value of computing power as well..
3.Computing Power derivatives produced by products ascending;
Faced with the high volatility of the market, RRMine launched computing power hedging contract products to realize computing power hedging transactions. RRMine also helps users to cope with the risks in the future market and overcome the market fluctuations through diversified computing power derivatives.
RRMine is accelerating its global business layout and actively expanding its market;
1.Accelerate the bottom-level expansion by ascending dimensions of speed;
Halving will not affect the expansion rate of RRMine and it will continue to speed up the progress of business development at the bottom level, continuously to expand the globally distributed computing base and establish a globally distributed computing supply network in China, the United States, Canada, Russia and other European countries. Among them, RRMine Platform in the US won the "world's most beautiful mine" award. Meanwhile, RRMine has laid out a very excellent elite and high-tech team with more than 10 branches and more than 200 excellent employees, realizing a global business layout..
2.Build credible Computing Power with decentralized technology by ascending dimensions of trust;
Computing power itself is decentralized. RRMine brings more complete trust to users through bottom-level "decentralized" computing power asset management and achieves standardization, risk resistance, strong liquidity, decentralization, long-term stability and other characteristics to create multi-dimensional credible computing power assets through computing power contracts. At present, every single transaction data from RRMine is written to BHP public chain in real time and can be checked clearly and cannot be tampered with which has achieved the decentralized distribution method and made the distribution of computing power becomes open and transparent.
3.Ascending the dimension of Market, RRMine looks at the value of computing power as the basic energy of the digital world.
Computing power itself is a good asset and the new "energy" that will power all smart devices in the future and the year 2020 is the first year of the world infrastructure construction of computing power. Based on the fact that computing power is one of the most innovative and core productive forces in the digital economy, RRMine is committed to building the infrastructure for global computing assets. In the eyes of RRMine, the future of computing power industry is not only a market supported by BTC price but also a decentralized platform for computing power asset management and trading which facing the broad sky of the computing power market and we look at the market behind computing power assets as the basic energy of the digital world. We will put patience and speed into the hundreds of billions of dreams, try our best to become the representative of the computing power world and make contributions to the industry.
Media Contact
Company: Hong Kong SuperB Grace
Contact: Marco Peng
[email protected]
Phone: +86 15108499095
Website:www.rrmine.com
SOURCE:RRMine
View source version on accesswire.com:https://www.accesswire.com/590654/Global-CEO-of-RRMine-Spoke-on-TerraCrypto-BTC-Halving-is-the-opportunity-to-Level-Up-for-Cloud-Mining-Platform || Bitcoiners Sprint to Improve Lightning Network in 2-Day Virtual Hackathon: As coronavirus is changing everyones lives, making it harder to go outside or interact with friends and family, people are leaning more than ever on digital video platforms to live a normal life. That includes Bitcoiners who are fine-tuning the organization of hackathons in the virtual realm. Several times around the globe, German lightning research startup Fulmo has put on the event Lightning Hack Day, where developers gather to hack and share new exciting ideas to further the network or the lightning-related projects theyve been working on. With coronavirus making it unwise (and even legally restricted) to travel and gather in large groups in meat space, theyve moved online, rebranding the event to the Hack Sprint. The world is still in lockdown, but that doesnt stop Bitcoiners to gather around the virtual fireplace to keep building and sharing knowledge! tweeted Fulmo a couple of weeks prior to the two-day event, which took place May 9 and 10. The event is dedicated specifically to the lightning network, a technology considered critical to Bitcoin s future. It aims to solve huge problems with payments in the leaderless currency, such as significantly scaling how many transactions it can handle and speeding up payments to be instant, as shoppers expect. Read more: What Is Bitcoins Lightning Network ? The hackathon is an unconference , since participants do much of the (self-)organization. They can get what they want out of it. Before the Hack Sprint, developers posted challenges for fellow hackers to solve, such as a small boost to lightning privacy and building an extension using lightning payments as a method to curb spam on a wiki, where participants can crowdsource information and collaboratively edit content. Some enthusiasts even posted BTC bounties to encourage participation. Anyone is welcome to put up challenges and use the weekend to get some progress. No one is forced to deliver a prototype, but to work and share what their outcomes were, said Christian Rotzoll, DIY node project Raspiblitz creator and organizer of the Hack Sprint. Story continues Related: Bitcoiners Sprint to Improve Lightning Network in 2-Day Virtual Hackathon At the culmination of the 48-hour sprint, developers presented what they built or improved upon, a total of 16 projects, improving the sprawling lightning ecosystem in various ways either adding new features or using the time to clean up messy code. User-friendlier projects Some projects focused on lightning applications like tipping. Thats a popular early application of the payment system, partly since lightning enables smaller online payments than ever before, with lower processing fees. Many tipping apps are focused on media, including Tippin.me for Twitter, but developer Michael Bumann finished a proof of concept of such an app over the weekend geared towards donating to developers. Programming might usually be a high-paying gig, but often developers create software for free to further a technology or cause that theyre passionate about. The Bitcoin community, for example, is filled with these people. Bumann created a tool to make it easier to automatically tip programmers (specifically the programming language Ruby) who developed open source software a developer used in their own project. Read more: BitMEX Operator Ups Grant for Bitcoin Development to $100K Teams made a number of improvements to Raspiblitz , a DIY guide for crafting your own lightning node with an interface showing some of the node statistics. Running your own lightning node is the most trust-minimizing way of using Bitcoin, because you dont have to trust anyone else to tell you what the state of the blockchain is. Without one, a malicious actor could potentially feed a user false information. Pseudonymous developer Openoms added a component to Raspiblitz to make it easier to summon the GUI of JoinMarket, one of a few key ways of making CoinJoin transactions, which gives users more privacy. JoinMarket is the longest standing and most feature-rich CoinJoin software with somewhat less easy to use interface which I am determined to improve. This is a small step taken to make the existing graphical interface easily and safely available for RaspiBlitz users on their desktop, Openoms told CoinDesk. Deeper improvements Other developers focused on making lightning work better under the hood. Again along the lines of privacy, one developer group created TOR2IP-Tunnelservice, which adds a new feature for lightning users taking advantage of Tor, a privacy tool that hides a users IP address, which identifies a users computer and location. The tool uses lightning two ways in one. First, it allows a user to tie a public address to the Tor address where their lightning node is running and connected to, without revealing the identity or location of the node. Read more: How a Coming Upgrade Could Improve Bitcoin Privacy and Scaling Second of all, people can pay lightning to use this service. Lightning developer Rene Pickhardt has been exploring the possibilities of using a different protocol for routing, which is how a payment moves to one person to another, producing a path that a payment moves through the network to reach its destination. Pickhardt proposed a routing protocol just-in-time (JIT) for lightning for the past year , which potentially improves success rate and privacy of the network. For the hackathon, he and a PhD student Michael Ziegler put together a proof of concept, putting the idea into practice for the first time. We finished one minute before 8pm the time they were supposed to present, Pickhardt said with a laugh. (Especially uncanny since the protocol is called just in time.) These are only a few of the projects that were presented at the hackathon. And not to mention, while this hackathon gives this lightning work more exposure, developers are actually working on these types of small improvements every day, attempting to build the future of online money. Related Stories Bitcoin Wallets Are Adopting This Tech to Simplify Lightning Payments Lightning Network Messaging, Political Expediency and What Crisis Has Revealed || ‘Big 4’ Auditor KPMG Launches Crypto Asset Management Tools: KPMG has built a suite of tools designed to help both traditional financial companies and fintech startups provide tightly managed crypto-asset services.
Targeting institutional clients, the new KPMG Chain Fusion product lets customers manage their data in compliance with regulations around financial reporting, security and processing needs. The suite allows these customers to collect and organize data from both traditional systems as well as blockchain databases,the company announced Monday.
Sam Wyner, director and co-lead of the Big 4 auditor’s Cryptoasset Services team, told CoinDesk his team had been working on the project for about a year, building the actual suite of tools since February.
Related:Polychain Capital, Square Crypto’s Steve Lee Invest in Bitcoin Broker’s $5.7M Seed Round
“It’s not unusual for a bank to have tens of systems … and crypto companies have a similar problem where for their blockchain-based systems, they’re fundamentally different, the infrastructure behind them is fundamentally different from what’s happening in traditional systems,” he said. “The same problem that happens is ‘how do you connect all your blockchain based systems to traditional ones, and do that in a way that the organization is trying to operate in?'”
Chain Fusion’s core service essentially creates a standardized data model for all transactions that an organization conducts, he said, regardless of whether they’re an on-chain/off-chain blockchain transaction or a traditional fiat one.
This allows these entities to run “advanced analytics” on the data. To demonstrate this capability, KPMG built multiple use case modules based around actual feedback from companies in the industry, he said.
One example is ensuring the data on a blockchain matches the information recorded on an entities books, he said.
Related:IBM, Merck Declare FDA-Backed Drug Tracing Blockchain a Success
“If you know you control an address and you think you have onebitcoinon it and you look at the address on the public blockchain, do you have one bitcoin or are you running a fractional reserve?” he said.
Other challenges included finding ways of being able to pull data from databases, including blockchain information, and still be able to run queries.
“We developed it all in a way that we were able to incorporate different types of technology providers and market data and infrastructure providers,” Wyner said.
Wyner declined to say how many companies have already begun using Chain Fusion, saying only that KPMG was discussing the product with “multiple clients or potential clients.”
While he wouldn’t say that KPMG’s name or reputation by themselves necessarily help companies become more comfortable dipping their toes into crypto-asset management, he did note that risk is not new in the financial services industry, and process risk and control are two areas with which KPMG is comfortable.
“At least in my career, this is one of the first times I’ve really thought of something and carried it all the way to this point with the help of a lot of people on this team, it would never have been possible without the support of our team,” Wyner said. “It’s an exciting time, I’m excited to continue to speak about chain fusion with all of the companies.”
• ‘Big 4’ Auditor KPMG Launches Crypto Asset Management Tools
• ‘Big 4’ Auditor KPMG Launches Crypto Asset Management Tools || Security Firm Claims One Group Stole $200M in Numerous Exchange Hacks: One shadowy group of cyber criminals might be behind attacks on various crypto exchanges (including “decentralized” exchanges) dating back to 2018, Israeli cybersecurity firm ClearSky claimed in a reportreleasedon Wednesday.
“We estimate that the group managed to rake in more than $200 million in two years,” the ClearSky report says about the cybercriminal collective the report calls CryptoCore. “We assess with medium level of certainty that the threat actor has links to the East European region, Ukraine, Russia or Romania in particular.”
ClearSky co-founder Boaz Dolev said his firm found at least five exchange hacks over the past two years that followed a particular pattern, though he declined to identify these exchanges on the record.
Related:The COVID-19 E-Commerce Boom Hasn't Trickled Down to Bitcoin, Despite Advantages
“They can attack very quickly,” Dolev said of CryptoCore, which he claimed once deployed an attack just 12 hours after registering fresh domain names. “They’re not a big group, maybe three to four people … a small but effective operation.”
So far, ClearSky estimates the cyber criminal group stole $200 million over the past two years. Other firms have called the same group different names, such as “Leery Turtle.”
Or Blatt, ClearSky’s threat intelligence team leader, said he believes the alleged thieves are rogues without military training or support. He described the attacks as “much less sophisticated” than ones conducted by Russian military intelligence officers indicted for influencingAmerican electionswhile usingbitcoinin 2016.
“They are cyber criminals and we know of other similar cybercrime groups,” Blatt said. “In order for such an attack to succeed, usually the [crypto exchange] employees need to be vulnerable to social engineering … [We] didn’t see this attacker exploiting VPN [virtual private networks], for example, which is something we often see with other groups.”
Related:Market Wrap: A Sea of Red Across Markets as Bitcoin Drops to $9.2K
Dolev said crypto exchanges that don’t use the same level of security practices as banks are vulnerable to such attacks.
The report details how the hacker group allegedly gained access to several exchange executives’ private email accounts, then used spear-phishing – impersonating a high-ranking employee – “either from the target company itself or from a company that deals with the target,” to acquire information that grants access to crypto wallets.
Nicholas Percoco, head of security at the crypto exchange Kraken, said, “We routinely see attempts through multiple attack vectors, including social engineering attempts,” so his company often shares information with other exchanges targeted by such criminal campaigns.
Ignoring CryptoCore specifically (Kraken was not mentioned in ClearSky’s report), Percoco said it is common for such cyber criminals to target several institutions in the same sector, especially the individuals who work at exchanges.
The concept of such a social engineering campaign, as ClearSky described, makes sense to Percoco. This is why Kraken’s security chief said, in addition to technical controls, he focuses on training sessions across the staff because you “can’t patch a human.” Plus,Kraken Security Labsroutinely tries to penetrate the exchange system and find vulnerabilities, he said.
“We will take all our employees, executives included, through extensive security training,” Percoco said. “We go very deep about home network security, social network security, even their own personal device security.”
Dolev warned that, especially considering the mass exodus to remote work caused by COVID-19, crypto exchanges face a “higher risk” in 2020. Indeed, Blatt added that CryptoCore appears to be more active since the coronavirus crisis began.
“If you put your money on an exchange, you don’t know if it’s secure or not,” Dovel concluded.
• Security Firm Claims One Group Stole $200M in Numerous Exchange Hacks
• Security Firm Claims One Group Stole $200M in Numerous Exchange Hacks || Famous Twitter Accounts Hacked to Spread Bitcoin Scam: Click here to read the full article. On Wednesday afternoon, Twitter users en masse saw a whirlwind of scam tweets from famous accounts, urging followers to send money by clicking suspicious bitcoin links. The list of compromised accounts reads like a who’s who plucked from the headlines, with former President Obama, Kim Kardashian, Kanye West, Wiz Khalifa, Bill Gates, Elon Musk, Joe Biden, Mike Bloomberg, Jeff Bezos, Apple and Uber, among others, being targeted. The malicious exploit looks like a massive, coordinated attack linked to Wednesday’s hack of cryptocurrency firms, such as Coinbase and Binance. Now Twitter is scrambling to figure out what happened. In a tweet sent Wednesday afternoon, the tech company pledged to look into the “security incident.” We are aware of a security incident impacting accounts on Twitter. We are investigating and taking steps to fix it. We will update everyone shortly. — Twitter Support (@TwitterSupport) July 15, 2020 As of this writing, the attack is ongoing. The strange tweets, first spotted coming from the accounts of Elon Musk and Bill Gates, urge followers to send $1,000 in Bitcoin to a supplied link, with promises to pay back twice the amount of the “contribution.” As of early Wednesday evening, the malicious actors — or “black hats,” in tech parlance — appear to have collected up a dozen Bitcoins worth more than $100,000. Various verified accounts were unable to tweet Wednesday afternoon through the evening, as Twitter looked into the issue. But at this point, the company announced that it has unfrozen most of them. This is not the first time Twitter accounts have been breached. In 2013, its systems were hacked, giving black hats access to usernames and encrypted passwords covering some 250,000 users. And in 2018, Target was hacked in another Bitcoin scam that went out to the retailer’s nearly 2 million Twitter followers. Others, from the Bears to Burger King and Jeep, have been attacked. Story continues In some cases, incidents involved hacks of third-party platforms that manage social accounts, or unauthorized access due to human behavior. Even the founder of Twitter is not immune. Last year, Jack Dorsey’s account was hijacked, thanks to a “SIM swap” attack. This type of exploit usually involves an employee from a cellular carrier changing the number tied to a smartphone’s SIM card to another phone. In that case, texted security codes then re-route to other people, giving them access. It’s not clear what type of hack was used here, but it’s a sure bet that Twitter engineers are racing to find out. Sign up for WWD's Newsletter . For the latest news, follow us on Twitter , Facebook , and Instagram . || Coca-Cola Distributor Offers Bitcoin Payment Options for Aussie Vending Machines: For the first time since the U.S. went on lockdown three months ago, lawmakers will convene Thursday to discuss digital currencies and other novel technologies.
The House Financial Services Committee (FSC) Task Force on Financial Technologywill be evaluatinghow FedAccounts and other digital tools might help the federal government distribute stimulus payments to help Americans suffering the economic fallout ofCOVID-19. The virtual hearing kicks off atnoon Eastern(16:00 UTC).
The concept of using FedAccounts to manage digital currencieshas gained tractionduring the pandemic: bills introduced to the committee have suggested usingbank accounts managed by the Federal Reserveto issue stimulus payments. The U.S. government has issued one round of payments by check, but only individuals who have filed taxes within the last two years received them. The idea behind FedAccounts is that any U.S. resident could receive these funds in a snap, rather than wait for a piece of paper mailed across several weeks by the Internal Revenue Service (IRS).
“What we discovered is that large segments of the population were not included in the financial system in that they didn’t have either bank account information with the IRS or were otherwise reachable,” said J. Christopher Giancarlo, one of the witnesses for Thursday’s hearing, in a phone interview. “The government had to resort to good old trusty paper checks with the delay in time and the imprecision and the challenges that presented to populations that didn’t have bank accounts.”
Giancarlo will advocate for a slightly different version of this vision, and plans to call for a token-based system rather than an account-based one.
“We think that this both addresses the concern that this particular hearing is there to address but goes way further by also future-proofing the dollar for the coming digital 21st century when things of value will be increasingly tokenized, decentralized and programmable, and we think that the United States needs to recognize the direction that the world is going,” he said.
Read More:Digital Dollar Project Calls for 2-Tiered Distribution System in First White Paper for US CBDC
Related:WATCH: US Lawmakers Will Talk Digital Dollar, FedAccounts in Thursday Hearing
The witnesses will include Giancarlo in his capacity as former Commodity Futures Trading Commission (CFTC) chair and now Digital Dollar Project director; University of California Irvine School of Law Professor Mehrsa Baradaran; Vanderbilt University School of Law Professor Morgan Ricks (whoco-created the conceptof a FedAccount); and Electronics Transaction Association Jodie Kelley.
The hearing will be chaired by Rep. Stephen Lynch (D-Mass.), who heads up the task force and has previously commented on the potential role distributed ledgers and cryptocurrencies could play in the U.S.
Earlier this year, Lynch proposedrecording the Strategic National Stockpileon a blockchain database, to ensure the government has a more accurate picture of the medical supplies it has available.
“We are looking at ways that we can adopt this new technology and address some of the challenges that we have in government,” he told CoinDesk in April about using blockchain and distributed ledger technology. “That attitude and that desire has been out there and so we have been looking for ways to utilize that technology to help government function better.”
You can watch the hearing here:
• How the COVID-19 Crisis Revived the Digital Dollar Debate
• Digital Dollars Give the State Too Much Control Over Money
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 9151.39, 9159.04, 9185.82, 9164.23, 9374.89, 9525.36, 9581.07, 9536.89, 9677.11, 9905.17
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2022-01-20]
BTC Price: 40680.42, BTC RSI: 31.86
Gold Price: 1842.50, Gold RSI: 60.45
Oil Price: 86.90, Oil RSI: 74.15
[Random Sample of News (last 60 days)]
Condo Collapse, Police Chief Fired, Bitcoin: Top Miami 2021 News: MIAMI-DADE COUNTY, FL — With the arrival of the new year, here are some of Southeast Florida’s top headlines from 2021. Surfside Condo Collapse Kills 98 People The Champlain Towers South condo building in Surfside made international headlines when it collapsed June 24, killing 98 people. It’s the third-largest building failure in U.S. history. For weeks, emergency responders and rescue workers searched the rubble for victims. There’s still questions about the future of the site, which has been approved for sale. The victims and their families will receive a minimum $150 million in compensation , a judge ruled. The condo tower’s collapse also called into question the safety of aging residential buildings across South Florida. After 6 Months, Miami Police Chief Art Acevedo Fired After six months on the job, city commissioners voted unanimously to fire Miami police Chief Art Acevedo in October. The former Houston police chief was hired to replace former Miami Chief Jorge Colina, who retired. During his brief time with the city, he was involved in multiple controversies , including cursing at a person in public, implying during an interview that Miami police would be forced to get the COVID-19 vaccine and joking that the city was being run by "Cuban Mafia." City Manager Art Noriega also said that he had asked Acevedo to create a comprehensive policing plan for the city, which the chief failed to do 2 A.M. Booze Ban Supported by Miami Beach Voters Miami Beach voters showed support for an earlier last call for alcohol throughout the city, according to the unofficial results of a straw poll on the 2021 ballot in November. The non-binding referendum calls for bumping up the cutoff time for alcohol sales from 5 a.m. to 2 a.m. daily, effectively closing local bars and clubs hours earlier. A majority of voters — 7,301 residents — voted in favor of the time change, while 5,616 voted against it, according to the Miami-Dade County Supervisor of Elections office. Story continues Wrong Number Leads To 20-Year Friendship, Callers Finally Meet Misdialed phone calls 20 years ago blossomed into an unlikely friendship between a South Florida woman, now a great-grandmother, and a Rhode Island man who was then in his mid-20s and now has a family of his own. They spoke regularly for two decades thanks to those wrong-number calls, but they never had the opportunity to meet in person — until last week, when Mike Moffitt, 46, surprised Gladys Hankerson, 80, at her Delray Beach home the day before Thanksgiving. Their calls started in 2001, when one of Hankerson's sons died from cancer. She was trying to reach her sister in Maryland to share the sad news when she accidentally called Moffitt, who lives in South Kingstown, about a half-hour south of Providence. Baby With COVID-19 Antibodies Born to Vaccinated South FL Mother In March, a pregnant health care worker from Boca Raton who received the COVID-19 vaccine passed the virus' antibodies on to her newborn. Two Palm Beach County pediatricians, Dr. Paul Gilbert and Dr. Chad Rudnick, believe the baby girl is the first child born with the antibodies after a mother's vaccination. The mother received her first dose of the Moderna COVID-19 vaccine when she was 36 weeks pregnant. Three weeks later, her daughter was born Missing Woman Rescued from a Storm Drain Twice in 2021 A Delray Beach woman was found naked and stuck in a storm drain in March after being reported missing nearly three weeks ago. She told authorities she became lost walking in the sewer system. An individual passing by the storm drain, which is located near the intersection of West Atlantic Avenue and SW 11th Avenue, called 911 when they heard the woman yelling, Delray Beach Fire Rescue shared on Facebook. At the end of May, she was rescued from a storm drain a second time , this time in Texas, where she was staying at a rehab facility. While looking for her, police saw her near a creek not far from her rehab facility, and she went down a storm drain as they approached her. South FL Leaders Pan Governor's Ban on Local COVID Restrictions After Gov. Ron DeSantis signed an executive order suspending local emergency orders and restrictions related to the coronavirus pandemic in early May, leaders in South Florida — which has been hit hardest by the virus — slammed the measure , which was effective immediately. Miami-Dade County Mayor Danielle Levine Cava condemned the order in a statement, saying, "I'm deeply concerned by this decision. We are still in a public health emergency and our economy has not fully rebounded from crisis. Miami Mayor Suarez Wins Re-Election Easily Miami's Mayor Francis Suarez easily defeated his opponents to win re-election Nov. 2. Suarez had nearly 79 percent of the vote, beating out his four challengers, according to the Miami-Dade County Supervisor of Elections Office. "You are my bosses, and guess what? The magic is back," Suarez said during a speech to supporters Election Night. "Today we embark on a new chapter, a journey together to finish what we started to create the most…successful city in our country, to create the model that can be scaled into an agenda for America, bringing prosperity and peace not only to Miami, but to this entire nation." Miami Baseball Player 3rd American to Win Summer, Winter Olympic Medals Though the United States lost 2-0 to Japan in the Tokyo Summer Olympics' gold medal men's baseball game in August, Miami baseball player Eddy Alvarez made history by medaling at both the summer and winter Olympics . After taking home the silver medal Saturday, he's now only the third American athlete to accomplish this feat of winning medals in both the winter and summer games. Alvarez was also an Olympic speed skater who won a silver medal in the 5,000-meter relay during the 2014 Winter Games in Sochi. Al Capone's South FL Home Flipped, Sold for $15.5M The late gangster Al Capone's former Miami Beach mansion was saved from demolition in October when its new owners flipped the home for a $5 million profit . The Chicago gangster bought the 7,500-square-foot Palm Island home in 1928 for $40,000. He died in the house in 1947 from a heart attack. At the end of August, developer Todd Michael Glaser and his business partner, Nelson Gonzalez, purchased the estate for $10.75 million. MiamiCoin 'Bitcoin Yield' Will Be Given to City Residents Miami Mayor Francis X. Suarez has long touted cryptocurrency, even pledging to become the first elected official in America to accept his salary in bitcoin. Now, he plans to create digital wallets for all city residents and give them their own bitcoin . While speaking with Coin Base TV, Suarez said that Miami earned more than $21 million on its new MiamiCoin since it launched in August. Gunman High on Mushrooms Kills South Beach Diner A young father visiting from Colorado in August was shot and killed at random while eating dinner with his family in the outdoor section of a South Beach café. The shooting took place at La Cerveceria de Barrio on Ocean Drive near 14th Street. The victim, later identified as 21-year-old Dustin Wakefield on social media by a relative, was eating with his wife and child when the shooting happened. Witnesses said the gunman opened fire into the café, shooting Wakefield several times, and then danced on top of his body. Newly Adopted Dog Lost Near Everglades, Found 9 Days Later After going missing near the Everglades April 20, a newly adopted dog was found alive weeks later after roaming the swampy area alone for nine days. Theo, a brown-and-white mixed-breed dog, went missing after a transport van bringing him to his new family in Alpha, New Jersey crashed on U.S. 27 between Miami and Belle Glade. The N.J. family found the abandoned pup in Homestead April 14 while vacationing there. Ashley Tirado, who adopted Theo, said he was wandering around alone, walking along a road next to a farm, not far from their Airbnb rental. Overtown Hope Mural Celebrates Black Culture at TECO Property With the completion of Overtown's newest mural, a 1,200-foot-long piece celebrating the Black community, in May, the artwork immediately grabbed the title of Miami's longest mural . The Overtown Hope Mural even surpassed Wynwood's infamous public art projects. Painted at TECO Energy's property in the neighborhood at 60 NW 17th Street, the project was completed by Moving Lives of Kids Community Mural Project (MLK), an arts organization that focuses on youth development and education. South FL Teacher Who Sued for Ivermectin Dies Of COVID-19 A Palm Beach County kindergarten teacher at the center of a legal battle to treat her worsening COVID-19 symptoms with ivermectin , an unproven drug for treating the virus, has died. Tamara Drock, 47 of Loxahatchee died in November, 12 weeks after being admitted to Palm Beach Gardens Medical Center's intensive care unit. This article originally appeared on the Miami Patch || The world's largest corporate holder of Bitcoin continues to back up the truck — here are 3 simple ways to pounce on crypto's recent slide: Despite its recent slide, Bitcoin has clearly hit the mainstream.
Not only are retail investors buying it, but several large corporations are backing up the truck as well.
Case in point: business software technologist MicroStrategy. It's already the world’s largest corporate bitcoin holder, but management continues to add significantly to its vault.
Between Nov. 29 to Dec. 8, MicroStrategy purchased 1,434 bitcoins for about $82.4 million, taking full advantage of the crypto's pullback from all-time highs. That brought MicroStrategy's total bitcoin stash to 122,478 coins, worth approximately $5.9 billion.
MicroStrategy CEO Michael Saylor recently said that bitcoin is “going up forever,” so the company’s recent purchases shouldn’t come as a surprise.
Of course, MicroStrategy is not the only company that has tied itself to bitcoin.
Here’s a look at three more stocks that can give investors exposure to the crypto world — one might be worth buying with some ofyour extra cash.
If you’ve ever bought bitcoin from an exchange before, you know that there are typically transaction fees involved. And as more people rush to buy cryptocurrencies, these transaction fees quickly add up.
That’s where Coinbase found its opportunity. As the largest cryptocurrency exchange in the U.S., it earns a transaction fee every time someone buys or sells cryptocurrency on its exchange.
In Q3, Coinbase had 7.4 million retail monthly transacting users. It earned $1.1 billion in transaction revenue and $145 million in subscription and services revenue.
To be sure, Coinbase shares currently trade at around $250 a piece. But you can get a piece of the company using a popular stock trading app that allows you tobuy fractions of shareswith as much money as you are willing to spend.
Marathon Digital Holdings is a cryptocurrency miner.
As of Dec. 1, the company’s mining fleet has produced approximately 2,712.3 self-mined bitcoins in 2021.
And while some Bitcoin miners might be tempted to sell their coins amid this year’s crypto rally, Marathon simply hoards them — also known as holding on for dear life, or HODL, to crypto enthusiasts.
In fact, the company hasn’t sold any bitcoin since October 2020. It even purchased 4,812.66 bitcoins in January 2021 for an average price of $31,168 per coin.
As a result of continued accumulation, Marathon has approximately 7,649.1 bitcoins today, a stake worth over $360 million.
Unsurprisingly, the stock has done well over the past year. Despite the recent pullback in bitcoin, Marathon shares are still up more than 200% in 2021.
Digital payments technologist PayPal hasn’t been a hot commodity lately. While the S&P 500 is up roughly 26% year to date, PayPal shares are off 19% over the same time frame.
But that could give contrarian investors something to think about. After all, the company’s core business isn’t doing too badly.
In Q3, PayPal’s total payment volume rose 26% year over year to $310 billion. It brought in $6.18 billion of net revenue, up 13% from a year ago.
The company has entered the crypto arena, too.
Users can use its PayPal and Venmo apps to buy, sell, and hold bitcoin and other cryptocurrencies. The company said that first time crypto users on its platforms increased by 15% in Q3.
Of course, if you don’t feel comfortable picking individual winners and losers, you can always build a diversified portfolio automatically just byusing your “spare change.”
At the end of the day, both stocks and cryptos are volatile.
Diversification is key. And you don’t have to stay in the public markets to get it.
If you want to invest in something without the violent swings of bitcoin, take a look at somehidden alternative assets.
Traditionally, investing in things like exotic vehicles or multi-family apartments or even litigation finance have only been options for the ultrarich.
But with the help of new platforms, these kinds of opportunities arenow availableto retail investors, too.
This article provides information only and should not be construed as advice. It is provided without warranty of any kind. || Haru Invest Releases “Farming Just Got Easier”, Allowing Users to Invest as Liquidity Provider: SEOUL, REPUBLIC OF KOREA / ACCESSWIRE / December 16, 2021 /Haru Invest, a top digital asset management platform, recently launched "Farming Just Got Easier." This investment product allows users to participate as Liquidity Providers to Haru Invest's swap pool and generate earnings from transactions as swaps happen.
Haru Switch
Haru Switch is a cryptocurrency swap service within Haru Invest. Through Switch, users can swap between Bitcoin, Ethereum or USDT instantly at market rate or make reservations to swap at the price they want.
These transactions take place via Switch Pool and users participate into the Switch Pool as Liquidity Providers. Through an automated swapping system, the fees from Switch will go back to Liquidity Providers, according to their Switch Pool contributions.
DeFi Swap Made Easy
Farming Just Got Easier provides single-sided liquidity - users can invest with one type of cryptocurrency. There will be no extra fees and no network fees for participation, unlike other swaps.
"To use DeFi swap services like Uniswap, users had to face a lot of difficulties such as pair staking, smart contract fee and impermanent loss. With Haru Switch, our goal was to provide an easy swap service that every user could access, without having to wrap BTC and no pairing required. Going forward, Haru Invest intends to reinterpret more DeFi products and services within CeFi. We want to become a crypto platform that provides an easy and diverse experience for anyone," said Hugo Lee, CEO of Haru Invest.
About Haru Invest
Launched in 2019, Haru Invest is a top digital asset management platform that provides one of the highest earn rates in the market on BTC, ETH, and USDT deposits. With zero security breach to-date and convenient user experience, Haru Invest has attracted users from over 130 countries, surpassing total transaction volume of $1 billion in November 2021.
The key driver of growth has been Haru Invest's consistent performance in the volatile cryptocurrency market. With ever-expanding crypto services and products, they are dedicated to creating a new paradigm in finance by breaking all barriers.
Haru Invest will be hosting its holiday promotion from December 16 to December 30, 2021.
Media Contact:
Name -Sang Woon oh
CompanyHaru Invest
Email [email protected]
Location:Seoul, Republic of Korea
Website -https://haruinvest.com/
SOURCE:Haru Invest
View source version on accesswire.com:https://www.accesswire.com/677760/Haru-Invest-Releases-Farming-Just-Got-Easier-Allowing-Users-to-Invest-as-Liquidity-Provider || The IPO is Just the Start: Brazilian Fintech Nubank is Set to Become a Global Financial Trailblazer: After initially hoping to achieve a $50 billion market cap upon its arrival on the New York Stock Exchange, Nubank scaled back its ambitionsto $41.5bnin the wake of an increasingly jittery equities market following the emergence of the omicron variant of Covid-19.
However, the future looks extremely bright for the world’s most valuable challenger bank, which has recently attracted huge volumes of investment from legendary Wall Street stalwart, Warren Buffett. Berkshire Hathaway, Buffett’s investment firm,invested $500 billionin a fundraiser for Nubank in June to deliver a valuation of $30 billion. Now, if Nubank can reignite its ambitions for a $50 billion market cap as markets settle, Buffett could feasibly see his investment continue to grow towards doubling his money in a matter of months.
(Image:Tanay Jaipuria)
It’s worth noting that growth is something that Nubank has a strong history of undergoing at a rapid rate – particularly over the past four years.
Following the arrival of Nubank’s credit card on the market in 2014, the company has been consistently adopting more advanced financial products which have helped to deliver an accelerated rate of customer adoption – with 48.1 million users accessing the app in Q3 of 2021.
Maxim Manturov, head of investment research at Freedom Finance Europe, believes that Nubank’s success wasn’t an accident – it was the culmination of a concentrated campaign towards positioning the customer as a priority.
“If you think back a little bit to the history of the company, the founders wanted to build a bank without any of the restrictions imposed by traditional banks,” Manturov explains. “The big banks, which occupy more than half of the market, started setting high-interest rates, which was beneficial for the banks themselves, but not for the development of the market.”
“Nubank became successful because of its customer focus, which allowed it to attract customers who had not previously used banking services. The bank’s main objective in founding it was to offer services to as many people as possible, as there is a huge wealth gap in Latin America. The company is also continuing its development, offering new products to customers and investing in its technology and development,”Manturov added.
Despite Nubank lowering its expectations for its IPO, the $8.5 billion downsizing of the challenger bank’s valuation still places it above ItauUnibanco, which had been Latin America’s largest financial institution with a market cap ofaround $38bnat the time of writing. This means that Nubank’s floatation makes it the biggest bank in the region, but the company is showing no signs of slowing down in driving significant growth.
Nubank’s financial services have been created with its user base in mind, and this has helped to leverage substantial growth across the company.
It’s possible to see evidence of a community-centric approach adopted by Nubank’s users through the company’s stock market debut, too.
In the buildup to its IPO, Nubank launched a programcalled NuSócios, which gave users the chance to become active shareholders in the company. NuSócios, Nubank has said, allowed customers to buy “a little piece” of the company ahead of its floatation.
The scheme worked through the distribution of free Brazilian Depositary Receipts. Known as BDRs, these receipts equate to around one-sixth of a class A common share – allowing users to gain exposure to Nubank’s stocks whilst learning more about some of the financial tools at the fintech’s disposal.
The distribution of these BDRs was capped at R$180 million (approximately $33m), with the NuSócios being central to the company’s Brazilian listing.
Furthermore, Nubank is also showing significant signs of growth intent as the company continues to ramp up its marketing efforts to attract fresh customers. In November,Nubank becamean ‘Official Regional Supporter’ of the FIFA 2022 World Cup in Qatar – a move that’s set to deliver significant levels of exposure across Latin America throughout the tournament, which will begin later next year.
Prior to its IPO, Nubank teamed up with a range of retailers to develop aneCommerce platformwithin its app.
The move has paved the way for tens of millions of customers across Brazil to be capable of shopping at major retailers like AliExpress and Magalu via the Nubank app, with more partners set to arrive over the coming months.
Once again, this acts as clear evidence that the company is not only interested in growing, but also growing into fresh industries that fintech still has plenty of room to emerge into.
As it reaches the lofty status as Latin America’s largest financial institution, Nubank will receive plenty of interest regarding its next market moves. With a continued emphasis on community-centric growth that looks to reinvent what financial services can do for their users, the future certainly looks bright for Brazil’s innovative challenger bank.
Thisarticlewas originally posted on FX Empire
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• Gold Price Forecast – Gold Markets Test Previous Trendline Again || Cybersecurity Group's SFOR.TRADE to Launch Cryptocurrency Trading Exchange in BOTS' Upcoming Las Vegas-Themed Metaverse: SAN JUAN, Puerto Rico, Jan. 18, 2022 (GLOBE NEWSWIRE) -- viaNewMediaWire --BOTS, Inc. (OTC: BTZI) ("BOTS" or "The Company"), a global technology conglomerate specialized in Blockchain-based solutions including decentralized finance (DeFi) applications, cybersecurity, crypto generation, mining equipment repair, extended warranty contracts, and its upcoming proprietary Vegas.MV Metaverse, announces today that SFOR.TRADE cryptocurrency exchange has reserved digital land in its upcoming Las Vegas-themed Metaverse to launch its virtual trading floor onwww.Vegas.mvwebsite, property of Metaverse Inc, a wholly-owned subsidiary of BTZI.
Cybersecurity Group (CSG), an ISO 27001-certified Information Security Management company, created SFOR.TRADE cryptocurrency trading exchange with a focus on cybersecurity. SFOR.TRADE plans on launching a virtual trading floor on BOTS' upcoming Metaverse to promote its cybersecurity-focused crypto exchange, host trading competitions, educational events on crypto trading, and spread awareness of its offerings amongst the crypto community. SFOR will also enable the trading of popular Metaverse Cryptocurrencies.
A recent article, published by Benzinga: BEST METAVERSE CRYPTOCURRENCIES, describes Metaverse and Metaverse cryptocurrencies: The announcement by Meta Platforms Inc. that it's changing Facebook's name to Meta and building a version of a Metaverse catapulted many Metaverse cryptocurrencies to new all-time highs. Some people, especially those interested in gaming and crypto, are excited that virtual worlds are getting more complex and enticing. Others are scared that this trend may lead to a dystopian world where no one leaves the virtual space to live their real lives. What Is the Metaverse? The term Metaverse was coined in 1992 by Neal Stephenson in his science fiction book "Snow Crash." However, Stephenson didn't come up with the concept of virtual reality (VR). Earlier monoliths of sci-fi writing did. Aldous Huxley included a primitive version of VR in his novel, "Brave New World," published in 1932. He described an addictive new technology that would overwhelm the senses with a virtual experience, warning us of the dangers of escapism. No one knew that a version of his idea would eventually become a reality. The Metaverse is the sum of all virtual worlds, augmented realities, and the Internet. Many people already spend a lot of time on the Internet, and companies compete there for your attention. Social media will be a huge part of human life in 2021. Facebook, Snapchat, Instagram, and YouTube have learned how to attract and keep attention for as long as possible. VR headsets seem to be the next evolution. People already play a bunch of fun and innovative VR games and experiences –– even though the technology is still in its infancy.
A few cryptocurrency-based projects want to build entire worlds where people socialize, play games, make money and pretty much do anything their hearts desire. Projects like Decentraland and The Sandbox have built enormous worlds and full economies. Both aim to relinquish control over the project and hand it over to the users. The Sandbox is not fully decentralized yet, but it has plans to do so in the coming year. Decentraland: Decentraland is an entire virtual world owned and built by its users. MANA is an ERC-20 token on Ethereum and is the native cryptocurrency of the game's ecosystem. It has a variety of use cases, including as a currency to buy items and land in the game on the marketplace. Decentraland also has a Decentralized Autonomous Organization (DAO) that makes major decisions about the game and ecosystem as a whole. MANA holders and LANDowners both vote in the DAO.
The Sandbox: The Sandbox is a virtual world like Decentraland but with a greater focus on user creations. The developers released 3D editing software to make building items and games into The Sandbox easy. SAND is also an ERC-20 token and works similarly to MANA, with a few differences. You can purchase items, parcels of land, tickets to virtual events, and more in The Sandbox game. The Sandbox also plans on building a DAO to make decisions for the game, but it hasn't come to fruition yet.
Star Atlas: Star Atlas will be a stunning virtual reality strategy game set in the future, reminiscent of Second Life. Unlike Decentraland and The Sandbox, the main game is not playable yet. The in-game economy is going to run off of the ATLAS token on Solana. When the game is released, you can earn ATLAS by collecting and selling resources and other items. It will also be used to purchase most items like starships and plots of land. A different token, POLIS, will act as the governance token for the ecosystem.
Bloktopia: Bloktopia will be a cyberpunk-inspired virtual reality game with a complex in-game economy run on the BLOK token. It will take place in a massive digital skyscraper covered in neon lights with 21 floors, paying homage to Bitcoin's 21-million-max token supply.
Some of SFOR. TRADE's security features include:
• 2FA authentication
• No Phone/SMS account recovery
• Email with 2FA confirmations for withdrawals with self-serve account lock
• High priority 24/7 live chat and email support for urgent concerns
• Customizable, granular API key permissions with range boundaries
• PGP signed and encrypted email for secure communication
• SSL encryption to protect you when browsing SFOR.TRADE
• Constant real-time activity monitoring
• Zero settlement risk, no chargeback fraud when trading cryptocurrencies
• Sensitive data is fully encrypted at rest and in transit
• 98% of assets securely stored in dedicated multi-signature cold wallets
• Enterprise-level encryption systems when storing all personal and financial data
• Financial stability with full reserves
• High standards of legal compliance
About SFOR.TRADE
SFOR.TRADE is a cryptocurrency exchange that believes in security above everything and offers an intuitive experience from the start through an easy-to-use trading terminal built for beginners and seasoned traders. We offer order books with top-tier liquidity, allowing users to easily exchange assets with minimal slippage and unprecedented speed in transaction matching. Our top priority is protecting client funds and privacy through the best security in the business.
For more information, visit:www.sfor.trade
About BOTS, Inc.
BOTS, Inc. is a global technology company specialized in Blockchain-based solutions, including decentralized finance (DEFI) applications, cybersecurity solutions, and owns a portfolio of digital assets and crypto-related businesses such as BeadSwap, a decentralized crypto exchange, Bitcoin ATM transaction patents, and partnership with Cyber Security Group LLC, an ISO/IEC 27001:2013 Information Security Management System certified company. The Company also provides crypto mining consulting, optimization, and crypto mining equipment repair and extended miners warranty contracts. Bots, Inc subsidiary TekX Mining and Gaming PC Solutions, LLC is Bitmain certified Technicians training, and Bitmain miners certified repairs facility.
Track BTZI news on Facebook @https://www.facebook.com/Bots.Bz/Follow BTZI news on Twitter @Bots_bzhttp://www.Twitter.com/Bots_bzFind BTZI news athttp://www.bots.bz
BOTS, Inc. has been featured in media nationwide, including CNBC, Bloomberg, TheStreet.com.
For more information, visithttp://www.bots.bzVisit BTZI on Facebookhttps://www.facebook.com/Bots.Bz/
Follow BTZI on Twitter @Bots_bz 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 information 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 the 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 expressly 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 website and filings.
Source: BOTS, Inc.
Contact: [email protected] || Where Is the Cheapest Country in the World To Mine Bitcoin?: Who would believe a country that has been in an economic, political, and social crisis during the last 20 years will be the best place to mineBitcoin?
Venezuela is the cheapest country to mine 1 Bitcoin. It only costs $531 because of its subsidized electricity, and South Korea is the most expensive country in bitcoin mining with a total of $26,170 to mine 1 BTC, according to a study ofBitcoinistwhich took the data from a research in global electricity prices by Elite Fixtures.
The research was conducted in 111 of the 195 of all countries in the world, other countries like Trinidad and Tobago, Ukraine, Myanmar, and Kuwait followed Venezuela in cheapest countries, having electricity costs between $1,000 and $2,000 per BTC.
In the 1980’s in Venezuela, one of the largest hydroelectric power plants in the world was built, calledGuri Dam, providing most of the energy to the whole country.
Subsidized electric costs and energy that comes from hydroelectric plants are one of the main reasons for cheap electricity costs in Venezuela, but as the years passed by, electrical outages have beenhappeningalong the way, possibly because of lack of maintenance of the power plants.
On the other hand, the last place you need to think about plugging in your bitcoin miner is in South Korea. Recently there have been many regulatory activities in the country such asnew lawswhen it comes to crypto holdings, andremovingplay-to-earn games apps.
Bitcoin miners will remember 2021 as the year of the distribution of bitcoin mining operations in many countries which fled out of China. Before this happened, there was a lot of congestion of transactions on the Bitcoin network which led to high transaction fees paid to Bitcoin miners.
According to Blockchain.comdata, 2021 was a better year for Bitcoin miners than 2020, in 2021 they received higher transaction fees which got to its peak on April 20, 2021 when they were paid $16.903 million, which coincided with BTC previous all time high andCoinbasestock debut. If compared with 2020, the peak was on November 6, with a payment of $3.787 million.
Right now the Bitcoin network is not congested having daily transaction fees between $300k and $600k, meanwhile Bitcoin’s price appears to be consolidating between $44,000 and $40,000 over the last couple of days, being $40,000 its support right now, let’s hope in2022Bitcoin’s performances will be as positive as 2021.
Thisarticlewas originally posted on FX Empire
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• Daily Gold News: Monday, Jan. 17 – Gold Price Goes Sideways || How the Economics of Bitcoin and Ethereum Shape Their Cultures: Cryptocurrencies arecryptocultures.These cultures express themselves through different means, but the primary form of cultural expression is economics. Each blockchain represents an experiment in economics and the implied society this economics will create.
The most famous and well-known experiment is bitcoin. Satoshi Nakamoto introduces bitcoin with the term “electronic cash.”Originally, bitcoin is presented as a complete money that has both cash-like properties and, as a consequence of its consensus mechanism, gold-like properties. Bitcoin will act in parallel as a medium of exchange and a store of value.
This article is part ofCulture Week, which explores how crypto is changing media and entertainment.
Nakamoto displayed cypherpunk and libertarian instincts. Cash-like properties in a digital money secures privacy – in theory, at least – and gold-like properties ensure scarcity. Implied in diminishing block reward returns is a maximum supply of 21 million bitcoins.
The cash narrative has had mixed fortunes. Many users did not use Bitcoin as intended and opted to use centralized exchanges as their wallets, undermining privacy. The appreciating price of bitcoin also ensured nobody would spend them on coffee. We see flickers of bitcoin as cash in places like El Salvador, but arguably at the price of contradiction, as non-state money becomes state money.
Another cultural sticking point is that it is a monetary network with a monetary policy that cannot be altered. That there will only ever be 21 million bitcoins has fostered a subtle belief in what I call monetary minimalism.
Monetary minimalism places the governance of money in a decentralized software system and minimizes human interference beyond the upkeep of the system.
In order to introduce a monetary policy change, like raising the maximum supply of bitcoins, it would be necessary for the majority of stakeholders to adopt the new consensus rules. It is conceivable bitcoin culture evolves in such a way, but right now such a radical alteration of the monetary policy ishighly unlikely. Since bitcoin users are attracted to it precisely as an alternative to the managed monies of the fiat currency system, this situation would mean bitcoin had ceased to be bitcoin, as originally intended.
Ethereum’s economics are an interesting contrast to bitcoin’s monetary minimalism. It is important to state, especially in today’s needlessly adversarial environment, that Ethereum is not primarily concerned with economics. Rather, Ethereum is first and foremost a distributed world computer with its own native currency. However, it can be imagined as a kind of home for the vast token economy built on top of it: DAOs, DeFi, NFTs (or decentralized autonomous organizations, decentralized finance and non-fungible tokens, respectively).
Ethereum’s native token, ether or ETH, is framed in the white paper in quite pragmatic terms. It has a“dual purpose.”The first is to act as a “liquidity layer to allow for efficient exchange between various types of digital assets.” The second is that small amounts called “gas” are required when making transactions or deploying and using smart contracts.
Ether is framed as functional and comes across more like money in the contemporary understanding. Its productive use enables the expansion of economic activities.
Since the Ethereum project is not primarily money-oriented, we find ether discussed more as a tool to be managed. Ether does not have a maximum supply – it is not designed as libertarian’s store-of-value – but issuance has beendecreased at timesand a mechanism for burning ETH(EIP-1599)has some deflationary effects.
In these cases, the native currency has been managed in order to address current technical problems or to prepare for long-term improvements, such as the transition toThe Merge(an upcoming upgrade that will shift Ethereum to a new consensus mechanism calledproof-of-stake). This is a form of monetaryminarchism.
Monetary minarchism allows limited management of a world computer’s native currency in order to improve the world computer.
The competing economic visions offered here are, I claim, temporal ones.
Bitcoin, as writer Lana Swartz puts it, is a”theory of society”involving the collapse of the fiat system and bitcoin as the beneficiary of that collapse. Bitcoin is presented as a hedge against what the community sees as inherent contradictions of fiat currencies. It is, in this narrative, an inevitability.
See also:You Can Be a Bitcoin Maximalist and Like Ethereum, Too | Opinion
However, the contemporary bitcoin community does not suggest this as an immediate concern, but an event on the horizon. The task of the bitcoin user is therefore to forego now – save, accumulate, don’t spend – in order to benefit later (inverting thetime-preference theory).
Following accumulative strategy, the stereotypical “hodler” may appear to outsiders as almost evangelical and his emphasis on saving, ascetic. But with rising interests rates it is arguable that the deflationary alternative of bitcoin may become more and more attractive to the general public.
The economics of Ethereum have a more immediate attraction. Because Ethereum is the meta-economy housing smaller sub-economies (DAOs, DeFi, NFTs) it offers a different escape route from economic stagnation. Ether has the characteristics of a productive asset where interesting work (DAOs), attractive interest rates (DeFi) and scarce digital assets (NFTs) can be discovered.
This productive stance – the stereotypical “degen” – can appear to outsiders as almost reckless and the emphasis on spending irresponsible, but with a stagnating economy it is arguable that the productive alternative of Ethereum may become more and more attractive to the general public.
Monetary minimalism and minarchism are distinct, but we would do well to remember both are on the same side, standing opposite to the fiat monetary system. || USD/JPY Forex Technical Analysis – Rangebound with 114.029 Resistance, 113.173 Support: The Dollar/Yen is trading lower for the session, but inside Friday’s range, suggesting investor indecision and impending volatility. The price action was primarily driven by choppy price action in the Treasury market before yields finished flat. The movement in yields and the Dollar/Yen reflects growing concerns that the omicron Covid variant will derail the global recovery.
At 21:12 GMT, theUSD/JPYis trading 113.656, down 0.059 or -0.05%. TheInvesco CurrencyShares Japanese Yen Trustis at $82.57, up $0.03 or +0.04%.
Early in the session, the USD/JPY weaken after Asian equities and oil prices traded lower on Monday following the reimposition of some COVID-19 restrictions in Europe. The weakness drove up the safe-haven appeal of the Japanese Yen.
The main trend is down according to the daily swing chart. A trade through 114.262 will change the main trend to up. A move through 112.538 will signal a resumption of the downtrend.
The minor range is 114.262 to 113.148. The USD/JPY is trading on the weak side of its pivot at 113.705, making it resistance.
The short-term retracement zone at 115.519 to 112.538. Its retracement zone at 114.029 to 114.380 is the main resistance zone.
The main range is 110.826 to 115.519. Its retracement zone at 113.173 to 112.619 is controlling the near-term direction of the USD/JPY.
The direction of the USD/JPY late in the session on Monday and early Tuesday will be determined by trader reaction to 113.705.
A sustained move under 113.705 will indicate the presence of sellers. If this move creates enough downside momentum then look for the selling to possibly extend into the support cluster at 113.173 – 113.148.
A sustained move over 113.705 will signal the presence of buyers. If this move generates enough upside momentum then look for a surge into 114.029 to 114.380. Inside this zone is a main top at 114.262, making it a solid resistance area.
For a look at all of today’s economic events, check out oureconomic calendar.
Thisarticlewas originally posted on FX Empire
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• Identifying Bitcoin’s Trend Allows for More Manageable Trading || The rich get richer: Rethinking Bitcoin's power as an inflation hedge: From turkeys to gasoline, clothes to dollar stores, nearly every avenue of human activity has been hit by the specter of inflation. Across the globe, rising inflation rates are disrupting purchasing plans and spending. In the face of this inflationary inferno, consumers and institutions holding devaluing fiat currency have sought out alternatives to hedge against. Bitcoin and many other cryptocurrencies are the current weapons of choice, driving the U.S. Securities and Exchange Commission to embrace crypto as an investable asset class . Bitcoin has witnessed strong year-to-date returns , outshining traditional hedges by rallying over 130% compared to gold’s meager 4%. In addition, increased institutional adoption , sustained appetite for digital assets based on weekly inflows and growing exposure in the media strengthened bitcoin’s case among weary investors. If these are the moves being made by big money, they must be smart moves. However, while the prospect of hedging against bitcoin may seem enticing to retail investors, certain lingering question marks remain over its viability in mitigating financial risk for individuals. Miscalculated expectations The ongoing discussion of bitcoin as an inflation hedge needs to be prefaced with the fact that the currency is often susceptible to market jitters and gyrations: Bitcoin’s value plummeted over 80% during December 2017, by 50% in March 2020 and by another 53% in May 2021. Bitcoin’s ability to improve user returns and reduce volatility over the long term has yet to be proven. Traditional hedges like gold have demonstrated efficacy in preserving purchasing power during periods of sustained high inflation — take the U.S. during the 1970s as an example — something bitcoin has yet to be tested on. This increased risk, in turn, makes returns subject to the drastic short-term swings that sometimes affect the currency. It’s far too early to be making judgments on bitcoin being an effective hedge. Story continues Many make the argument for bitcoin based on the fact that it’s designed for a limited supply, which supposedly protects it from devaluation compared to traditional fiat currencies. While this makes sense in theory, bitcoin’s price has been shown to be vulnerable to external influences. Bitcoin “whales” are known for their ability to manipulate prices by selling or buying in large quantities, meaning that bitcoin can be dictated by speculative forces, not solely the money-supply rule. Another key consideration is regulation: Bitcoin and other cryptocurrencies are still at the mercy of regulators and wildly varying laws across jurisdictions. Anti-competitive laws and shortsighted regulations could significantly hamper the adoption of the underlying technology, potentially depreciating the asset’s price further. All this is to say one thing: It’s far too early to be making judgments on bitcoin being an effective hedge. Catering to the rich Against the background of this debate, another salient trend has been driving its momentum. As bitcoin’s popularity grows, it continues to drive adoption and institutionalization of the currency among consumers, including several wealthy individuals and corporations. A recent survey found that 72% of U.K. financial advisers have briefed their clients about investing in crypto, with nearly half of the advisers saying they believed crypto could be used to diversify portfolios as an uncorrelated asset. There has also been a great deal of bitcoin advocacy from prolific individuals, known for being technologically progressive, namely billionaire Wall Street investor Paul Tudor, Twitter CEO Jack Dorsey , the Winklevoss twins and Mike Novogratz . Even powerful companies such as Goldman Sachs and Morgan Stanley have expressed their interest in bitcoin as a viable asset. If this momentum continues, bitcoin’s infamous volatility will gradually dissipate as more and more wealthy people and institutions hold the currency. Ironically, this accrual of value on the network would lead to the concentration of wealth — the antithesis of what bitcoin was created for, subject to the influence of the elite and exclusive 1% . In line with classical schools of financial thought, this would actually expose retail investors to greater risk, as institutional buying and selling would resemble whale-like market manipulations. Defying the core ethos Bitcoin’s growing popularity will no doubt lead to more people owning it, and one can argue that the people with the most money will be the ones who are going to (as usual) end up owning most of it. This noticeable shift of influence toward ultra-high-net-worth individuals and firms among bitcoin and other crypto circles goes against the very ethos that the Bitcoin white paper was based upon when it described a peer-to-peer electronic cash system . Among the fundamental rationales for cryptocurrencies is their need to be permissionless and resistant to censorship and control by any given institution. Now, as the 1% seeks a greater slice of the crypto pie, they boost the prices of these assets in the short term in a way that traditional and less influential retail investors are unable to. While this move would undoubtedly make a few wealthier, there is an argument to be made that this might leave the market at the mercy of the 1%, contradicting Bitcoin’s intended vision. || WPUR Adds Sustainable Cryptocurrency Mining To Electric Utility Offerings: Dallas, Texas, Nov. 22, 2021 (GLOBE NEWSWIRE) -- WaterPure International, Inc. (OTC Pink: WPUR) today announced the company will introduce a sustainable cryptocurrency mining initiative to its portfolio of electric utility offerings. WPUR recently updated its decade old clean water operations and begun to trial new water delivery efficiencies and technologies in developing economic markets to be subsequently scaled for all global markets. WPUR also recently announced its expansion into the electric utilities sector with a focus on bringing high-tech solutions to the EV charging sector. Now WPUR will add sustainable cryptocurrency mining solutions to its electric utilities focus. The environmental impact of cryptocurrency mining is becoming more apparent. Elon Musk, CEO of Tesla and SpaceX was recently quoted in Cointelegraph : Cryptocurrency is a good idea on many levels, and we believe it has a promising future, but this cannot come at great cost to the environment. Leafscore reported, Theres been a lot of attention on Bitcoins shocking environmental impact in recent months, and while efforts are being made to minimize the carbon footprint of the cryptocurrency, some investors are jumping ship in favor of greener options. WPUR will expand its focus in East Africa by adding the sustainable cryptocurrency mining offering. Africa currently has one of the smallest bitcoin hash rates. This is due largely to the high cost of electricity and equipment. This low hash rate is an opportunity. Instead of replacing existing energy production and computing equipment solutions with more efficient and sustainable solutions, WPUR has the opportunity to launch fresh, clean, green mining operations. WPUR is forecasting a recurring revenue model to begin generating and rapidly expanding revenue next year in 2022 by providing services in the electric utilities sector with an emphasis on the electric vehicle (EV) charging and sustainable cryptocurrency mining subsectors, and the water technology sector with combined market values over $100 billion. Story continues WPUR plans to trial, refine, and scale solutions for the water tech, EV charging and sustainable cryptocurrency mining markets to take global. To learn more, visit https://www.wpurinc.com/ . Disclaimer/Safe Harbor: This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies' contracts, the companies' liquidity position, the companies' ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur. Contact: Sean Mathis [email protected] 972-918-5256
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 36457.32, 35030.25, 36276.80, 36654.33, 36954.00, 36852.12, 37138.23, 37784.33, 38138.18, 37917.60
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2015-07-27]
BTC Price: 293.62, BTC RSI: 64.21
Gold Price: 1096.50, Gold RSI: 28.39
Oil Price: 47.39, Oil RSI: 23.30
[Random Sample of News (last 60 days)]
BTCS Management Cancels Outstanding Options Ahead of Merger: ARLINGTON, VA--(Marketwired - Jul 7, 2015) -Bitcoin Shop, Inc.(OTCQB:BTCS) ("BTCS" or the "Company"), a blockchain technology focused company which secures the blockchain through its transaction verification services business, announced today that its management team has agreed to voluntarily cancel all 12,450,000 of their options, representing all of the Company's outstanding options, ahead of the Company's anticipated merger with Spondoolies-Tech ("Spondoolies").
Charles Allen, Chief Executive Officer of BTCS, commented, "As we continue to progress in our planned merger with Spondoolies, we see the cancellation of our outstanding options as a strategic move that will afford us the opportunity to create a comprehensive plan post-merger that properly addresses all stakeholders involved. We anticipate adopting a new equity incentive plan that will be structured to support our performance-based culture and align with the interests of our shareholders.
During its first year of operation, Spondoolies successfully launched five different hardware products which are widely recognized in their respective categories. Subsequent to its first product launch in March 2014, Spondoolies announced un-audited revenue of more than $28 million for its fiscal year ended December 31, 2014. The pending-merger between Spondoolies and BTCS will leverage the respective expertise of both companies to create a new global leader in the blockchain sector.
About BTCS:BTCS is an early mover in the blockchain and digital currency ecosystems and the only "Pure Play" U.S. public company focused on blockchain technologies. The blockchain is a decentralized public ledger and has the ability to fundamentally impact all industries on a global basis that rely on or utilize record keeping and require trust. 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. || Peak Venture Group Adopts the BitShares Network: Peak Venture Group has announced the adoption of the BitShares 2.0 platform to integrate into their existing business LAS VEGAS, NV / ACCESSWIRE / July 1, 2015 / " We're always looking for game-changing opportunities," smiled Steve Tiffany, CEO of Peak Venture Group. "BitShares has the potential to supercharge most of our existing businesses and revolutionize everything about how we start new ones." The Las Vegas based startup incubator has big ambitions that leverage remarkable synergies in the crypto currency, ATMs, remittance, video gaming, and network marketing industries. "BitShares turns out to be the missing catalyst needed to stimulate viral growth across our whole portfolio," said Tiffany. Mr. Tiffany went on to discuss his reasoning for the adoption. "Our original killer concept was to bring together a network of merchants and affiliate marketers by helping them to connect with each other in a double-sided marketplace. Merchants are always looking for ways to sell their products and affiliates are always looking for lucrative new things to sell. We put together a system that helps them find each other. We already have over 17,000 members on our video game site and 8500 marketers in our affiliate system the first year. Whoosh!" "Then one of those affiliates introduced us to BitShares," said Tiffany, shaking his head. "I thought it was just going to be a way to maybe make commission payments within our network a bit more automatic and trust-free. But after talking with BitShares Founder Dan Larimer, I realized his brainchild was going to change everything we do!" "What exactly is it that we do?" "We provide specialized training for an affiliate marketing force and broker connections to all kinds of products they'll find easy to sell. Then we go looking for startup companies with ideas worth investing in, and hand them a marketing outlet on a silver platter! Most startups focus on their products and services, leaving marketing as an afterthought. We deliberately invest knowing that we can add a powerful engine for customer acquisition on Day One. We look for startups that fit into that model, and then harness our marketing horsepower to their front end." Story continues "Take for instance the market we put together for the gaming industry," he said. "And I'm not talking gambling or anything like that. When we say gaming, we're referring to the video game community. One aspect I'm talking about is the Massively Multi-Player Online Role Playing Games (MMORPG) - video games in which a very large number of players interact within a virtual game realm. It's a $65B industry world wide!" "We created two symbiotic companies. Our gaming eCommerce store is one-stop shop for everything to do with video games, including ACME laser swords, valuable game items, rare related merchandise, gold, you name it. Then our affiliate program teaches gamers how to do their own viral network marketing of everything that we sell while preserving the gaming atmosphere for our affiliates to keep the fun intact. We motivate the industry's most passionate expert gamers to become its most productive marketers. They wind up building their own game and financial empire at the same time! And we do so by seamlessly integrating real world and game world currencies and empires." "You can see how this led us naturally to crypto currencies, and ultimately to BitShares," he traced a finger from dot to dot, as if the connection was obvious. Tiffany further explained, We needed a way to seamlessly transition real world currencies like dollars and euros and the unique digital currencies used inside many of the games we offer at the gaming site. I figured we could integrate a crypto currency wallet somehow and use that currency as the common denominator and a way to automatically pay affiliate commissions. But BitShares gave us a complete decentralized currency exchange network right out of the box. It even had built-in smart contracts to help automate our affiliate program. This helps us make sure every affiliate gets paid automatically for every transaction made by any member of her integrated game and financial empire. And BitShares can keep up with gaming speeds - Its average transaction time is about a second compared to, say, Bitcoin where it can take the better part of an hour to confirm a transaction. Gamers can't wait that long to get more ammo for their hypersonic reciprocating transmorgifyer when they are pinned down and really, really need it! No other cryptocurrency had all that. It completely changed how we now think about all of our start-ups." He then said, "We plan to use the same model to integrate the crypto universe," he waved as if it were a done deal. "Our Chief of Acquisitions and Visionary Officer, Justin LaFountain, has been spearheading a whole new crypto currency venture maybe even bigger than gaming. Its flagship website will soon debut as a one-stop education and shopping site for everything about crypto. The ultimate goal is to introduce new arrivals to the freedoms of the crypto universe and help spread that freedom across its physical and virtual counterparts. We hope that will lead to many loyal customers." "Originally, we thought crypto-evangelism meant teaching people about Bitcoin, how to get and use crypto currencies, wallets, mining support, and understanding the leading exchanges. But by integrating the industrial grade BitShares Exchange Network directly onto our web sites, there's much more value we can add." After a series of annoucements over summer of 2015, BitShares now has a network of complementary partners like CCEDK.com, BANX.io, Cryptonomex.com making the fusion of all our crypto-savvy products and services available to each other's customers. Transparently interoperable markets and freely interacting customers will exponentially magnify our combined network effect. When asked about what it all means in the end for Peak Venture Group , Steve broke it down to what reqally matters to his company. "Bottom line, our competitive edge as a startup incubator was to integrate affiliate marketing into every one of them. BitShares' smart contract services, financial products, and internal affiliate program will greatly amplify that. It all works together to turn existing customers into affiliate marketers and existing affiliate marketers into uber-productive affiliate mentors." Clearly inspiring himself, his gaze drifted off to the horizon, "Peak Ventures Group can leverage these same BitShares Exchange Network relationships to supercharge every Group of new Ventures we Peak!" Contact Peak Venture Group: Justin LaFountain 763-202-4305 [email protected] 101 Convention Center Drive. S 700 Las Vegas, NV 89109 SOURCE: Peak Venture Group || Bitcoin Under Attack?: The recent turmoil in Greece, which has included the government institution of withdrawal limits at major banks, should have presented a major opportunity for bitcoin to gain positive media attention. With Greek citizens flocking to buy bitcoin during bank closures, the virtual currency should be enjoying media exposure as a stable, safe alternative currency for the Greek people.
Rough Weekend
Instead, this week has been disastrous for bitcoin. This past weekend, untimely software updates at bitcoin delayed payment confirmations by up tofive hours. However, at least those issues were not malicious.
Related Link:Wedbush Predicts A Bright Future For Bitcoin
Under Attack
For the past couple of days, bitcoin has been under attack by... someone. According toThe Merkle, the Denial of Service (DoS) Attack this week on the cryptocurrency has been bogging down the bitcoin blockchain, the public record of bitcoin transactions.
How It Works
The responsible party is performing dozens of transactions per minute involving minuscule amounts of bitcoin (0.00001 BTC). Because of the tiny amount of the currency that is involved in each transaction, the spamming efforts are costing the perpetrator only about $0.08 per pop, but the constant barrage of orders has single-handedly filled up each 1 MB block that enters the blockchain.
Who Is Responsible?
When the largest bitcoin transaction ever made was processed on Tuesday, onlookers initially suspected the Chinese bitcoin mining group F2Pool of orchestrating the attack. However, according to Motherboard, F2Pool was simply trying to clear out the spam by mining the huge, 999KB block.
What Now?
Unfortunately, in the digital world of cryptography, it can be nearly impossible to determine the identity of the attackers in a scenario such as this one. For now bitcoin must simply try to figure out the best way to stop the attack and/or roll with the punches.
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• Greece Is Bad, But China Is Much Worse
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Could Citicoin Be The Next Altcoin?: While bitcoin remains the most popular cryptocurrency, several altcoins, or alternative digital currencies, have made their way to the market since bitcoin's introduction.
With the debate over the usefulness of cryptocurrencies still up in the air,Citigroup Inc(NYSE:C) is working to explore every possibility surrounding digital currencies. Citibank's Innovation Labs toldIBTimes UKthat it has already developed a working cryptocurrency, though it is still being used only in experimental capacities.
Citicoin
Head of Citit's Innovation Labs Ken Moore said that his team has created three separate blockchains and a test currency, dubbed Citicoin, to use them. Citicoin hasn't been used outside the confines of Innovation Labs, but Moore says the research his team has done using the coin experimentally will keep Citibank at the forefront of digital currency innovation.
Related Link:Overstock Loses Big On Bitcoin
Uses
The bank has been open about its interest in cryptocurrencies over the past year, so the development was no surprise to the digital currency community. In the future, Citibank is hoping to use blockchain to facilitate international payments in a way that is faster and easier than ever before.
A Step Forward
Citi's enthusiasm for digital currencies represents a major stepping stone for bitcoin and the entire cryptocurrency community. If major banks were to get on board with digital currencies, it would mean that bitcoin and many of the world's other altcoins would have more staying power.
Bitcoin was initially dismissed as a scam, but the fact that major financial institutions are using the currency's blockchain technology to build their own systems suggests that bitcoin may not be just a passing fad.
See more from Benzinga
• Using Cryptocurrency To Fight Crime
• MasterCard Slams Bitcoin In Letter To UK Officials
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 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 jokinglytweetedthat 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 thata 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. || 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.
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• CNBC.com Earnings Central || Trading the rally: 5 stocks to buy: Traders saw a lot of bright spots in the market's record-breaking rally on Thursday. CNBC " Fast Money " trader Guy Adami said Thursday that two stocks in particular are attractive plays. "Palo Alto Networks (NYSE: PANW) , all time high. Look at the move in FireEye (NASDAQ: FEYE) . Proof point: there are pockets of stocks that continue to work here," Adami said. Trader Steve Grasso also eyed both stocks. "It's going one way, it's going north. These are names you have to hold your nose and just buy them," he said. Shares of Palto Alto are up about 50 percent year-to-date. FireEye stock is also up 70 percent from the beginning of the year. Trader Tim Seymour focused his attention on the transports Thursday, examining Kansas City Southern (NYSE: KSU) and CSX (NYSE: CSX) in particular. He said that Wednesday's dovish Fed statement "means the transports can continue to run." "A lot of these guys were going through pricing issues, but commodity prices are now starting to bottom. The valuations here are very interesting," he said. Read More Billionaire sees opportunities in asset bubbles Trader Brian Kelly said on Thursday that he bought shares of Microsoft (NASDAQ: MSFT) as a result of the market rally. "It has a 3 percent dividend yield. It's a big cap tech, exposed to the world, and would do well under a weaker dollar; so, for me, that's the trade you do here," he said. "That's why people, I think. were piling into the Nasdaq (NASDAQ: .NDX) ." Disclosures: Tim Seymour 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. Brian Kelly Brian Kelly is long BABA, BBRY, BTC=, EEM, Euro, MSFT, NOC, SPY, TAN, TSL, Yen; he is short Dollar and Yuan. Today he bought MSFT, NOC, and SPY. Guy Adami Guy Adami is long CELG, EXAS, INTC, Guy Adami's wife, Linda Snow, works at Merck. Story continues Steve Grasso Steve Grasso is long AAPL, BAC, DD, DECK, EVGN, MJNA, PFE, T, TWTR, GDX firm is TWTR, AXP, AMD, AMZN, IBM, MCD his kids own EFG, EFA, EWJ, IJR, SPY. More From CNBC Top News and Analysis Latest News Video Personal Finance || Marijuana Regulations Questioned As Number Of Exposed Children Rises: As marijuana becomes a legal drug in more U.S. states, regulators are struggling to catch up with the growing number of issues that come with a new market. Political, social and health-related issues have all been in the spotlight when it comes to marijuana, but a new study by the Nationwide Children's Hospital proves that there is more to consider when it comes to legal weed. Exposure On The Rise The study showed that over the past seven years, marijuana exposure among young children rose by 145.7 percent. During that same time period, states with legal marijuana laws saw that figure rise by more than 600 percent. Even more concerning was data that showed that the majority of those children were less than three years old. Related Link: Evolving Regulations Make Marijuana Edibles A Difficult Industry To Navigate Edibles To Blame? One major reason for the rise in accidental exposure among children has been the advent of edible marijuana products. As the typical pot user is often a non-smoker, ingestibles are on the rise. More companies continue to release edible ways to feel the psychoactive effects of THC. Brownies, cookies and even breath mints are sold laced with THC, and young children are unable to detect the difference between an everyday treat and one containing marijuana. Better Packaging The study suggests that regulators in states where marijuana is legal haven't been able to keep up with the growing number of risks surrounding the drug. Though most states require marijuana products to be clearly labeled in child-proof packaging, many feel that more effort needs to be made in educating consumers on the dangers of accidental marijuana exposure among children. Image Credit: Public Domain See more from Benzinga Bitcoin Theft Isn't Reserved For Hackers Netflix Dives Deeper Into Europe Despite Murky Waters Beverage Makers Hope To Ride The Craft Beer Wave © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Is Russia Next To Adopt Bitcoin?: This week, Russian President Vladimir Putingave his opinionon bitcoin to the public for the first time. Putin hasn't been open about his view on cryptocurrencies in the past, but on Russia 24, the nation's domestic TV network, Putin was optimistic about bitcoin's future possibilities.
Putin Commends Bank Of Russia
Putin remarked that the Bank of Russia's efforts to explore applications for bitcoin have been beneficial and that the nation may find future use for the technology. In his view, cryptocurrencies still have major reliability issues, but the technology they run on may be useful to facilitate transactions down the road.
Related Link:Wedbush Predicts A Bright Future For Bitcoin
Still Reliability Issues
In his interview, he underlined the problems that bitcoin presents, saying that the fact that the currency isn't backed by anything represents a major issue with adopting cryptocurrencies. Though he said the nation isn't planning to reject cryptocurrencies, the issues related to using them can't be overlooked.
Not A No
Cryptocurrency enthusiasts took Putin's comments as a positive sign for the direction of digital currencies. Although he did not make any definitive statements regarding the Russian government's stance on using the currency, he appeared optimistic about the possibility of using blockchain in order to keep track of accounting records. Many had expected Putin to take a more firm stance against cryptocurrencies, so the fact that he didn't announce that they would be prohibited was considered a win.
See more from Benzinga
• Cloudminr Hacking Scandal Reignites Skepticism Over Bitcoin
• Can Marijuana Fight America's Drug Addiction?
• The Big Business Behind Fantasy Sports
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin Shop Posts Video Presentation: ARLINGTON, VA--(Marketwired - Jun 23, 2015) - Bitcoin Shop, Inc. ( OTCQB : BTCS ) ("BTCS" or the "Company"), a blockchain technology company that engages in transaction verification services, announced the release of a video from its Chairman and CEO Charles Allen. In the video, Allen discusses recently disclosed developments and provides a tour of the Company's North Carolina facility. Highlights of the video include commentary on the recently announced pending merger with Spondoolies-Tech, including post-merger valuation metrics and peer comparisons, as well as revenue information related to the Company's transaction verification services for both 2014 and Q1 2015. Additionally, Allen discusses the Company's near-term plans to increase capacity at its North Carolina facility and the potential positive financial impacts of bringing Spondoolies' highly-efficient next-generation servers online. The video update is available at: https://youtu.be/b2DA98yeGho "We believe we're well-positioned to achieve key milestones on multiple fronts in the coming months that could lead to significant shareholder value improvement," stated Allen. "Our planned merger with Spondoolies will bring together a phenomenal team with the shared vision and work ethic necessary to capitalize on the immense opportunities in the digital currency space. I look forward to providing future updates as we move forward." About BTCS: BTCS is a blockchain technology company that provides transaction verification services for digital currency. BTCS is building a universal digital currency platform with the goal of enabling users to engage in the digital currency ecosystem through one point of access. BTCS continues to actively partner and integrate with strategic digital currency technology companies who provide products or services that are complementary to its business strategy. BTCS operates its public beta site ( www.btcs.com ) where consumers can purchase products using digital currency such as bitcoin, litecoin, and dogecoin, by searching through a selection of over 250,000 items. For more information visit: www.btcs.com Forward-Looking Statements: Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe,""expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission, not limited to Risk Factors relating to its digital currency business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law. Embedded Video Available: http://www2.marketwire.com/mw/frame_mw?attachid=2845331
[Random Sample of Social Media Buzz (last 60 days)]
#RDD / #BTC on the exchanges:
Cryptsy: 0.00000005
Bittrex: 0.00000006
Average $1.3E-5 per #reddcoin
07:00:01 || Current price: 286.65$ $BTCUSD $btc #bitcoin 2015-07-15 19:00:02 EDT || In the last 10 mins, there were arb opps spanning 21 exchange pair(s), yielding profits ranging between $0.00 and $1,414.46 #bitcoin #btc || In the last 10 mins, there were arb opps spanning 20 exchange pair(s), yielding profits ranging between $0.00 and $1,615.17 #bitcoin #btc || Bitcoin traded at $284.34 USD on BTC-e at 11:00 AM Pacific Time || Bitcoin traded at $234.78 USD on BTC-e at 08:00 AM Pacific Time || 1 BTC = 291.00 USD at https://bleutrade.com/exchange/BTC/USD … #bitcoin #btc #Bleutrade || In the last 10 mins, there were arb opps spanning 18 exchange pair(s), yielding profits ranging between $0.00 and $1,034.84 #bitcoin #btc || In the last 10 mins, there were arb opps spanning 24 exchange pair(s), yielding profits ranging between $0.00 and $3,206.11 #bitcoin #btc || In the last 10 mins, there were arb opps spanning 12 exchange pair(s), yielding profits ranging between $0.00 and $2,342.44 #bitcoin #btc
|
Trend: down || Prices: 294.43, 289.59, 287.72, 284.65, 281.60, 282.61, 281.23, 285.22, 281.88, 278.58
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
AMC Stock Can Make You Money, But Not Over the Long Term: AMC (NYSE: AMC ) stock can be a golden goose for competent traders. It moves fast enough to provide plenty of profit opportunities intraday. But today we are discussing its suitability for long-term investors looking to buy AMC stock now. Spoiler alert — I am not on the “buy it” side. But I also would not condone everyone shorting this fast mover. This is one that doesn’t belong in non-expert hands. The scoreboard isn’t obviously bearish for AMC stock, if you compare it to pre-pandemic times. Those who bought it in February of 2020 are still up more than 100% on their investment. Clearly they would take issue with my cautious tone today. However, my concern is what’s likely to happen from here, now that the pandemic sugar rush is fading. There is tremendous risk lurking for new potential investors. InvestorPlace - Stock Market News, Stock Advice & Trading Tips AMC AMC $13.11 AMC Stock Is Still Sick Things were bad even before Covid-19 struck. The indices were breaking records in January of 2020, yet AMC was down 75% from its highs. Then the global lockdown effectively crippled all crowd business, which includes movie theaters. AMC’s doors remained closed for months, and its financials went into ruins. 7 Undervalued Large-Cap Stocks to Buy for June Business is slowly coming back to life, but revenues are still 40% below 2018 and 2019 levels. And what’s worse, it is still losing money — net income last quarter was -$337 million . I give management all the kudos for actually surviving the test . But that’s not the same as justifying a 1,000% rally like the stock had last year. Some businesses benefited directly from the lockdowns, like Zoom (NASDAQ: ZM ). The pandemic actually boosted their revenues exponentially. The subsequent reports show that it is carrying the growth forward. Clearly they are taking advantage of this tailwind. AMC stock is dealing with the opposite problem. The pandemic killed AMC’s traffic, and it is not even close to going back to par. Therefore, new investors must have blinders to trust in a prosperous future in the near term. Story continues Management will likely need to drastically pivot the business to adapt to a new world. Although there are rumors, there isn’t proof of anything concrete now . And anyway, selling popcorn is not likely to live up to expectations of stock buyers now. Show Me the Trailers AMC Stock Chart Showing Declining Conditions Source: Charts by TrendSpider Last week, AMC rallied 50% in four days, which is impressive on all counts. But the $16 per share zone has history since 2019, so it is resistance. The bulls will first need to take that out soon, to break this lower-high descending trend. It would also be a tremendous help if they can hold above $13 per share meanwhile. Then the traders could start seeing some upside progress in the short term. I am open to actively trading AMC stock, but I would not hold it for an investment. Management would need to show progress towards successful execution of their new plans. Until then, I would avoid committing new risk to it strictly on faith. The onus is on the company to show tangible results in the financials. This is the only way skeptics like me would come around. For now, investors are likely misplacing their trust into a company that was in a perpetual decline. Covid-19 and meme stock surges saved the stock, but I doubt management will save the business without bringing about sweeping changes. On the date of publication, Nicolas Chahine 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 AMC Stock Can Make You Money, But Not Over the Long Term appeared first on InvestorPlace . || Elon Musk discloses that Tesla owns Dogecoin, but how much does it have?: Despite announcing thatTesla had sold 75% of its bitcoin holdingsin Q2, CEO Elon Musk disclosed in a quarterly investor call that the company also heldDogecoinand had not sold any of those holdings.
"We have not sold any of our Dogecoin; we still have it," Musk said in the call.
Musk has detailed in the past that he personally owns Dogecoin but has not indicated that Tesla does, though the electric car company has been accepting Doge payments for some merchandise on their website. It's unclear whether the company has simply been holding on to the tokens used for merch purchases or has made dedicated buys of the dog-themed "joke" cryptocurrency that Musk has repeatedly voiced his support for on Twitter.
The company disclosed that it currently owns $218 million worth of digital assets after selling $963 million worth of bitcoin. The bulk of that $218 million is likely its remaining bitcoin.
Tesla reportedly had around 42,000 bitcoin heading into the second quarter, so after selling 75% of them, it should have had around 10,500 at the end of the quarter. Now, to determine exactly how much of that total holding is Bitcoin, we'd have to know exactly when the snapshot was taken. It was assumedly taken sometime the last day of June when fiscal Q2 ended, so 1 bitcoin would have been trading for between $18,750 and $20,300 throughout the day, which at 10,500 coins would mean that around $197 million to $213 million of its total "digital assets" would be in bitcoin.
That napkin math leaves a much smaller amount of room left for Dogecoin holdings, though perhaps still a healthy amount to have been made solely on merchandise sales. Tesla has not disclosed holding any major cryptocurrencies other than bitcoin and, now, Dogecoin.
Tesla dumped 75% of its Bitcoin holdings
Dogecoin investor sues Elon Musk, Tesla and SpaceX for $258 billion || TikToker reveals real reason you shouldn’t gossip at work: ‘Keep friends and coworkers separate’: Here’s why you shouldn’t gossip at work, according to one finance expert. Bitcoin vs. gold: Which is the better inflation hedge? Before Frank Niu retired at 30, he spent a decade working as a software engineer for companies like Netflix, Grubhub and Credit Karma. Now, Niu shares his career wisdom as a part-time content creator on TikTok . When someone asked him if being “slow to trust” people at work was a good or bad quality, Niu gave an honest answer. Achieve In The Know cover star Storm Reid's makeup look for less than $20: “The people you work with are not your friends,” Niu explained . “You shouldn’t blindly go trusting others and telling them information that you don’t need to, especially if that information could hurt you down the road.” He advised that if you’re gossiping with a coworker, they’re likely also gossiping about you. “The people that you work with are not your family,” he said . “You can’t go blindly trusting them. Most people put on some sort of work persona that’s not who they actually are. Keep in mind that at the end of the day, everyone is looking out for themselves.” People felt like Niu’s advice was an honest assessment of the corporate world. “This is why you keep friends and coworkers separate,” a person commented . “Some coworkers will go straight to the boss with info out of context,” another wrote . “[There is] not a single person out there that isn’t faking their work identity. Don’t let the name ‘corporate politics’ fool you … It’s everywhere,” a user said . See this bedroom turn into a vibrant oasis after an incredible one-day renovation: The post TikToker reveals real reason you shouldn’t gossip at work: ‘Keep friends and coworkers separate’ appeared first on In The Know . More from In The Know: Depressed pit bull experiencing 'phantom' pregnancy has sweetest reaction to new puppy: 'My heart just broke' This single-serving ice cream maker will be the best $25 you spend this summer Disney rep apologizes after Paris employee 'destroyed' proposal This gardening tool lets you weed your yard without bending over What is the 'AP Art Portfolio' TikTok trend? || What is Bitcoin? How much is it worth and how can I invest in it?: (Getty Images) Despite not existing in the physical sense of the word, Bitcoin has contributed to a drastic change in the way we use our money. Bitcoin can be used to buy anything from luxury hotel rooms to pizza, but what people really want to know is how they can get rich by investing in the cryptocurrency. So, what is it bitcoin, how much is it valued at and is it worth investing in? What is bitcoin? Bitcoin is a cryptocurrency - a digital form of currency that can be used to buy or sell items online. It was created by an anonymous figure who goes by the name of Satoshi Nakamoto. It works differently to normal online payments because there's no middleman, meaning there are no banks involved in the transaction. People use Bitcoin because it allows them to make purchases online anonymously, which is why bitcoin has been attributed to the dealings of illegal drugs and other illicit items. Bitcoin also makes international payments much easier because it's not subject to a single country's regulations. (PA) How much is it worth? Bitcoin was first created in 2009, when a new era of blockchain technologies and digital currencies were ushered in. Since its inception, its value has changed dramatically, with it performing with volatility on the markets. According to todays valuation, Bitcoin is currently worth £19,585.24 ($30,256.11). The cryptocurrency has suffered a volatile few months on the stock market, but it reached its zenith on November 10 2021, when coins achieved a rate of $68,000 (£55,765.29). The coin started 2022 nearly twice as valuable as it had been in January 2021, but before the month had ended, it lost nearly all of the previous years gains, dropping to the £33,000 range by the end of the month. How do I buy bitcoin? You can buy bitcoins with different currencies directly from online marketplaces called "bitcoin exchanges." People can also send bitcoins to each other using different apps in the same way you would normally conduct digital transactions. Story continues These bitcoins are then stored in a "digital wallet," a virtual bank account that can be accessed by the cloud or a user's computer. There have been multiple security issues with these "digital wallets," though, with reports of cloud servers being hacked and online crooks fleeing with users' money. Is it worth investing in? Its always a risky business investing in cryptocurrencies, and there is a chance that you could lose all of your money. It is also more risky to invest in cryptocurrencies than to invest in the traditional stock market. The coins value is based purely on speculation, which is different to company stocks, which sees the valuation shift according to the companys valuation and how the business is performing. Cryptocurrencies are also not regulated by the general UK watchdog, the Financial Conduct Authority. The general advice given by experts when it comes to Bitcoin is to never invest more than you can afford to lose, use your own hardware wallet and don't buy all your Bitcoins in one transaction. || Spice Girl Mel B Had Only $1,300 In Her Bank Account At One Point, But Here's How She Bounced Back With A $6M Net Worth: Mel B first rose to fame as one-fifth of the popular 1990s girl group, The Spice Girls. With their infectious dance sound and message of “Girl Power,” Scary Spice — as Melanie Janine Brown was then known — was part of a new wave of feminism that paired femininity with strength. And the messaging paid off: the Spice Girls became a part of the list of best-selling girl groups of all time, according to reports . Unfortunately, Mel B didn’t always invest her money wisely. Between her lavish lifestyle, bad business investments, and more, the singer and songwriter eventually found herself nearly destitute and struggling to survive. But, as the old saying goes, tough times don’t last forever — tough people do. Let’s take a look at how Mel B nearly lost it all — then bounced back better than ever. Editorial note: The net worth listed in this piece is a speculative estimate drawn from a variety of online sources. Mel B: Her Net Worth At The Height Of Her Spice Girls Fame According to Celebrity Net Worth, Mel B had a $30 million net worth at the height of her career. Today, she has a $6 million net worth. How She Lost It All Even though Mel B was a millionaire many times over, divorce and bad business investments left her with just about $1,000 in her bank account at one point. In 2017, People reported that the former “Scary Spice” had been ordered to pay more than $40,000 a month in child support to her ex-husband, Stephen Belafonte. What’s more, AfroTech previously reported that Mel B was also facing IRS trouble to the tune of $2.5 million. “Fortunately, though, News24 reported that she was back on her feet after the Spice Girls reunion tour, which gave her the ability to catch up on all her bills — including the tax bill,” we also reported. The Bounceback Mel B’s success story is proof that it’s not how hard you fall, but how hard you get back up. According to Celebrity Net Worth, the singer was banking $240,000 per episode of “America’s Got Talent,” so she certainly made her money back there. Story continues As previously mentioned, she also went on a reunion tour with The Spice Girls, putting more than $1 million back in her pocket. With her very public desire to get paid in Bitcoin showing promise, too, Mel B is well on her way to redemption. “The former Spice Girl made history when, according to Coindesk, she became the first British artist in history to get paid in Bitcoin. She partnered with the now-defunct Cloud Hashing to accept the then-revolutionary cryptocurrency for her new single,” AfroTech previously reported. “I love how new technology makes our lives easier, and to me that’s exciting. Bitcoin unites my fans around the world using one currency. They can just pay using bitcoins!” she said in a statement at the time. || Morning Crypto Briefing: BTC Slumps Back Below $30K, ETH Eyes Key Support As Bears Regain Control: • The bears regained control on Tuesday sending total crypto market cap back under $1.20 trillion.
• Bitcoin subsequently fell back under $30K and Ethereum to the mid-$1,700s, where it eyes key support.
• But crypto prices remain mostly within recent ranges ahead of key macro events later this week.
The crypto bears regained control during Asia Pacific trade on Tuesday, with some citing a larger than expected rate hike from Australia’s central bank as sparking fears about global central bank tightening ahead of this week’s European Central Bank meeting, where the bank is expected to outline rate hike plans for the months ahead.
Total cryptocurrency market capitalization shed more than $55 billion or around 4.5% on Tuesday to fall back to around $1.20 trillion, having at one point been as high as $1.28 trillion on Monday. But the big picture hasn’t changed much for crypto in the last couple of weeks.
Total crypto market cap has largely remained in the upper-$1.10s to mid-$1.30s trillion range since the early May tumble. Crypto investors remain anxious about a worsening, increasingly stagflationary global economy (with the Russo-Ukraine war and recent China lockdowns having worsened things in recent months), as well as about a global tightening of financial conditions that make crypto a comparatively less attractive investment.
But at the same time, growing evidence of US inflation has peaked, meaning an easing of uncertainty regarding how much the US Federal Reserve will tighten monetary policy (the Fed is by far the most important central bank for crypto traders to watch) has helped calm things in recent weeks.
The outlook for US inflation and Fed policy will be in focus on Friday with the release of the May US Consumer Price Inflation report. But until Friday, there aren’t many by way of major scheduled economic events/potential catalysts to spur macro-induced price action in the crypto market.
US Treasury Secretary Janet Yellen will be giving remarks at 1500BST on Tuesday which will be worth watching, while CoinDesk’s Consensus 2022 crypto conference begins on Thursday and will likely provide plenty of commentary/talking points for crypto enthusiasts to sink their teeth into.
For now, it would be unsurprising to see crypto markets continue to swing within a $1.15-$1.35 trillion market cap range and, in doing so, remaining not too far from the 21-Day Moving Average (currently at $1.233 trillion).
Bitcoinwas last trading down about 6.0% on Tuesday near the $29,500 level, having slumped back from Monday’s highs in the $31,700s. As with the broader market, bitcoin continues to largely trade well within recent ranges ahead of key macro events later this week.
The latest slip in prices has seen bitcoin’s market cap drop back to around $560 billion, while its crypto market dominance remains close to recent multi-month highs of around 47%.
Fidelity’s director of Global Macro Jurrien Timmer, who is widely followed within the crypto space given his high-quality bitcoin commentary, was out with another thread on bitcoin on Monday. Timmer presented three different models that track the supply of bitcoin over time plus the adoption rates of the internet and mobile phones, which forecast that bitcoin’s price should be somewhere in the region of $47,700 – $144,750 by the beginning of 2025.
“Assuming the mobile phone curve is a more viable analog, its curve suggests a strongly growing network for Bitcoin in the years ahead,” Timmer stated, before caveating that “the more asymptotic internet curve raises the possibility that perhaps Bitcoin’s growth curve is more mature than my models have assumed”.
“I remain bullish on Bitcoin as an aspiring store of value in a world of ongoing financial repression,” he noted. “But the above exercise is a good reminder that we should always revisit our assumptions, especially when the price action deviates from expectations”.
Turning toethereum, the world’s second-largest cryptocurrency by market cap was last trading lower by about 5.5% on the day in the $1,750 area and once again eyeing key resistance in the low $1,700s. The technicals are not looking good for ETH/USD, with the crypto pair having consistently posted lower highs since mid-May and with the 21-DayMoving Average(currently at $1,880) having consistently provided strong resistance since going all the way back to early April (with the most recent rejection coming on Monday).
Turning now to the other major altcoins, the biggest overnight story is that theUS Securities and Exchange Commission is looking into Binance’s Initial Coin Offering (ICO)ofBNBback in 2017 as a potential unregistered securities offering. Of the major altcoins, BNB was one of the underperformers on Tuesday and last trading with losses of about 9.0% in the last 24 hours, according to CoinMarketCap data.
News of the SEC’s probe into Binance’s ICO come when the world’s largest cryptocurrency exchange had already been in the headlines this week. On Monday, Reuters released an article claiming that Binance’s exchange has been used to launder illicit funds, citing the findings of a partnership with blockchain analytic firms Crystal Blockchain and Chainalysis. Binance has since hit back against such claims in a lengthy blog post.
Meanwhile, Cardano’sADAwas last trading lower by 8.0% in the last 24 hours, Solana’sSOLwas last down about 12%, while dop-meme inspiredDogecoinandShiba Inuwere last down around 5.0%, with the latter failing to muster much of a lift in the face of its listing on crypto exchange Bitstamp. Ripple’sXRPwas last down around 4.5% over the same time period with the ongoingRipple vs SEC lawsuit still in focus.
In the latest indication that the crypto industry remains in contraction (or the so-called “crypto winter”), crypto custody and asset management firm BlockFi will see its valuation sink to around $1 billion in an upcoming funding round, The Block reported.
Last March, the firm raised a cool $350 million in funds that put its valuation at around $3 billion. BlockFi was reportedly even close to raising another $500 million in July which would have valued it at over $5 billion.
The sharp pullback in crypto prices since last November as macro risk appetite worsens as the US Federal Reserve tightens financial conditions in order to address multi-decade high US inflation has weighed heavily on the valuations of crypto firms and seen many pause hiring and let go of employees in recent weeks.
US Senators Kirsten Gillibrand and Cynthia Lummis released their much anticipated, bipartisan crypto regulation bill on Tuesday. In terms of some of the key features of the bill, it would reduce a barrier to the adoption of cryptocurrencies in the US as a means of everyday payments by making all purchases worth under $200 tax-free (i.e. no capital gains to be paid by selling the crypto).
Meanwhile, the bill also borrows from Senator Pat Toomey’s recent proposal for new stablecoin rules to increase investor protection and promote adoption. The bill would also see lawmakers give the Commodity Futures Trading Commission (CFTC) authority over the spot markets in crypto commodities and seeks to define the difference between crypto commodities and crypto securities.
Analysts said that the comprehensive regulations bill is seen as more of a starting point for dialogue on crypto regulations in Washington and likely won’t lead to any big legislation passing Congress before 2023.
Separately, a draft US bill concerning cryptocurrency regulations was leaked on Twitter on Tuesday. The bill included policies intended to require all crypto platforms/service providers to legally register in the US if they are to operate there, including DAOs and DeFi protocols.
Elsewhere, Japan is considering new laws that would add it to the list of the major economies to have given themselves the legal authority to seize illegally obtained crypto, according to a report in the local Japanese press on Tuesday. The report said that current laws in Japan do not reference the treatment of illegally acquired digital assets, creating a potential loophole for criminals.
Thisarticlewas originally posted on FX Empire
• Russian attack destroys warehouses of major Ukrainian commodity terminal, company says
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• Gold Price Prediction – Gold Rebound on Dollar Weakness || Here's Why Credit Suisse Sees Tesla Triumph Amid Odds: • Credit SuisseanalystDan LevymaintainedTesla Inc(NASDAQ:TSLA)with an Outperformand cut the price target from $1,125 to $1,000 (37% upside).
• Levy expected Tesla's 2Q deliveries of 242,000, missing the consensus of ~280,000 due to the Shanghai COVID shutdown.
• Moreover, given the lower delivery outlook, the associated margin impact, and an expected Bitcoin impairment, he reduced the 2Q EPS estimate to $1.10 from $2.06, below the consensus of $2.08.
• Nevertheless, he remained positive on Tesla, as the long-term fundamentals were intact. He noted that the widening supply constraints would likely extend Tesla's lead over other OEMs in the race to EVs.
• Levy expected the robust fundamentals ahead should outweigh the near-term challenges for Tesla, like the recent growth sell-off, production disruptions in China, lingering semiconductor shortage, and magnified inflationary pressures.
• He believed the long-term case for Tesla was evident.
• Tesla remained the global leader in EVs amid rising supply chain risks.
• Tesla's lead in vertical integration and prior EV experience amplified its lead over other automakers in the race to EV.
• Levy reaffirmed his Outperform rating and remained positive on the stock. The Price Target cut reflected a higher discount rate.
• Price Action:TSLA shares traded higher by 4.06% at $733.87 on the last check Friday.
[{"Date": "Feb 2022", "Firm": "Daiwa Capital", "Action": "Upgrades", "From": "Neutral", "To": "Outperform"}, {"Date": "Feb 2022", "Firm": "Piper Sandler", "Action": "Maintains", "From": "", "To": "Overweight"}, {"Date": "Jan 2022", "Firm": "Credit Suisse", "Action": "Upgrades", "From": "Neutral", "To": "Outperform"}]
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© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Crypto Market Cap Falls Below $1T for First Time Since Early 2021: Don't miss CoinDesk'sConsensus 2022, the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12.
The market capitalization for cryptocurrencies fell by some 12% in the last 24 hours to nearly $970 billion on Monday morning, data from CoinMarketCap shows.
• A similar capitalization was previously seen in January 2021, data shows. In the past 24 hours, bitcoin (BTC) lost 13% while ether (ETH) slid 17%.
• Bitcoin dominance increased to over 47% over the weekend, suggesting investors held bitcoin and risked off from alternative cryptocurrencies.
• The fall came amid a decline in global stocks after poor U.S. consumer price index data for May was released last week. Inflation rocketed to over 8.3% on a year-on-year basis, denting investor sentiment.
• Bitcoin hasdeclined for nearly 12 straight weeks, marking one of the asset’s biggest slides in its lifetime. || 7 Oversold Stocks on the Verge of Blasting Off: Although investors should generally stay away from oversold stocks that are in the middle of severe thunderstorms, in certain cases, the negativity could be unfairly brutal. Whether through strong industry fundamentals, specific business strengths or a combination of the two, investors willing to absorb hefty risks could enjoy significant profits that would otherwise not be possible in normal market cycles.
One of the factors that make for potentially intriguing oversold stocks is that the equities sector never swings in perfectly linear fashion. That is, in a bid to seek a balance between bullish and bearish demand, valuations tend to gyrate substantially before finding equilibrium. During a harsh down cycle such as now, bearish bias might overshoot, creating “unnatural” discounts for particular companies.
Therefore, by acquiring oversold stocks that still offer fundamental relevance, investors that dove in early could benefit handsomely once the broader market realizes its error. While there will be permanent losers in the equities space, it’s unlikely that all securities will go to zero.
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To be fair, attempting to catch a falling knife is risky so you don’t want to play with money you can’t afford to lose. However, if you’re prepared, here are oversold stocks to consider.
[{"Ticker": "WRBY", "Company": "Warby Parker Inc.", "Current Price": "$13.39"}, {"Ticker": "NFLX", "Company": "Netflix, Inc.", "Current Price": "$170.91"}, {"Ticker": "GATO", "Company": "Gatos Silver, Inc", "Current Price": "$3.12"}, {"Ticker": "TWLO", "Company": "Twilio Inc.", "Current Price": "$85.17"}, {"Ticker": "SE", "Company": "Sea Limited", "Current Price": "$72.87"}, {"Ticker": "BLUE", "Company": "bluebird bio, Inc.", "Current Price": "$4.16"}, {"Ticker": "GENI", "Company": "Genius Sports Limited", "Current Price": "$2.57"}]
Source: Dev Chatterjee / Shutterstock.com
Following the close of the June 16 session, eyeglass and contact lens retailerWarby Parker(NYSE:WRBY) saw its shares slip 5%. Even worse, the red ink exacerbated its year-to-date loss to a staggering 71%. Since its first public close, WRBY has hemorrhaged 75% – not exactly a great launch to an initial public offering.
Still, there might be something here based on a cynical fundamental development. According to scientific experts, myopia (or nearsightedness) is forecasted toaffect half of the world’s population by 2050. While it’s speculation on my part, the wider push towarddigitalizationand thus the dissociation from nature might accelerate this myopia trend.
Therefore, on a very long timeline, WRBY is poised to swing higher, assuming it can stay in business. Another factor that benefits Warby Parker is its focus on low-priced offerings. With the hefty impact of inflation reducing thepurchasing powerof the dollar, such price awareness could help WRBY, especially considering the business is essential to millions.
Source: Alex Ruhl / Shutterstock.com
One of the shockers among oversold stocks,Netflix(NASDAQ:NFLX) is emblematic of the reverse of fortunes that some companies suffered amid the coronavirus pandemic. At first, the global health crisis was a fortuitous tailwind for the streaming content giant as people really had nowhere to go. Now that consumers arelooking to make up for lost experiences, Netflix tumbled badly.
On a YTD basis, NFLX has hemorrhaged a staggering 71% of market value. However, there might be some signs that the streaming specialist is poised to make a comeback. In the trailing month, NFLX is down “only” 8%, which is an improvement over prior sessions’ freefall nature.
Better yet, on a fundamental note, Netflix can regain the cheap entertainment angle that initially boosted its share price. How so? As inflation – judged by theconsumer price index(CPI) – gets onerous, households will be forced to abandon their vacation plans for more reasonable entertainment.
Even with the price hikes, Netflix offers significant bang for the buck. Therefore, its lost subscribers could be coming back, making NFLX one of the oversold stocks to consider.
Source: Phawat / Shutterstock.com
Regarding the topic of heavily oversold stocks, my formerInvestorPlacecolleague Vince Martin was fond of saying that sometimes, publicly traded securities are down big for a reason. With precious metals mining firmGatos Silver(NYSE:GATO), the explanation for its steep market penalty – down 69% YTD – is quite simple (and alarming).
Basically, management disclosed errors in the estimation of resources held in one of its mining projects. As you can see from its chart, the disclosure plunged GATO almost straight down. The news is also problematic because it’s now incredibly difficult to assess the future viability of the company.
Still, if you’re the optimistic type, another argument exists: the negativity in GATO stock could be priced in. Even if it wasn’t entirely priced in, the overriding catalyst for Gatos Silver is that the underlying asset is in demand because of inflation.
As my current colleague Will Ashworth stated, inflation is easy to spark but difficult to get out of. Therefore, keep an eye on GATO as one of the oversold stocks to possibly gamble on.
Source: Tada Images / Shutterstock.com
Specializing in communication APIs,Twilio(NYSE:TWLO) enjoyed a dramatic runup during the new normal as people gravitated toward online services such as food-delivery platforms. As well, the company provides two-factor authentication (2FA) via its Authy app. Naturally, 2FA features strongly in the cryptocurrency sector, another major beneficiary of the Covid-related disruption.
But now that these cynical tailwinds have faded into the rear-view mirror, TWLO has been left struggling for traction. On a YTD basis, shares have tanked 67%, basically returning to the doldrum levels of spring 2020. Still, it’s possible that TWLO is one of the oversold stocks that have gone too heavily in the negative direction.
For one thing, Twilio features solid strengths overall in the balance sheet, with a highlight being itsequity-asset ratio of 0.85, ranked better than 82% of companies in the interactive media sector. As well, its Altman Z-Score is well into the safe zone.
Finally, while segments like cryptos are hurting, it’s quite possible that the underlying administrative functions such as 2FA will still be in strong demand, thus boosting TWLO’s profile.
Source: Postmodern Studio / Shutterstock.com
A technology conglomerate based in Singapore,Sea(NYSE:SE) quickly became a fan favorite following the doldrums of spring 2020. With business units covering exciting avenues such as e-commerce, financial services and video games, SE was a massive winner up until November of last year. Since then, the narrative has been ugly.
Indeed, on a YTD basis, SE is down 67%, representing an astounding change of fortunes. At the same time, the underlying company could make a case for being one of the oversold stocks to consider. Primarily, its connection to the Southeast Asia tech economy is too strong to ignore.
According to data compiled by Statista.com, last year, the size of Southeast Asia’s internet economy was $174 billion. By 2025, experts project that this valuationcould expand to $363 billion. Not to be outdone, aReutersarticle pointed out that by 2030, the segment couldcommand a value of $1 trillion.
Granted, the current circumstances involving itsfirst major downsizingdon’t help. However, for the patient investor, SE could turn out to be a dream discount.
Source: motorolka / Shutterstock.com
Diving into the extremely speculative portion of oversold stocks to possibly buy for tremendous upside, we’re going to start off withbluebird bio(NASDAQ:BLUE). A biotechnology firm focusing on gene therapy, bluebird is on the cutting edge of genomic research. While several companies have sprouted up in this segment, what distinguishes BLUE from the competition is its unique science.
For starters, gene therapy broadly involves the process of correcting a genetic mutation. Here, bluebird’s investigational therapies are manufactured with the patient’s own hematopoietic (blood) stem cells, thus eliminating the need to find a stem cell donor. If successful, bluebird can potentially set a framework for addressing genetic diseases.
Now, BLUE has shed 58% YTD, making it one of the oversold stocks but likely for a reason. Simply put, investors are leery about the incredible volatility of investigational biotechs. For instance, bluebird’s gene therapies are not approved by the Food and Drug Administration.
Nevertheless, if you want to swing for the fences on down-and-out securities, bluebird is quite intriguing for its paradigm-shattering potential.
Source: KAMONRAT / Shutterstock.com
Easily the most speculative name among the oversold stocks on this list,Genius Sports(NYSE:GENI) is a sports data and technology firm that provides data management, video streaming and integrity services to sports leagues, bookmakers and media companies. If you’re a sports fan, you’re consuming the underlying technology without even consciously thinking about it.
For example, when watching a baseball game, we’re accustomed to an array of data called sabermetrics. From how far and how fast a ball left the bat to the revolutions per minute of a pitcher’s curveball, the modern viewer is treated to information that was unthinkable decades ago.
But it’s not just viewers that benefit from the integration of data in sports. From head coaches drafting up a game plan to broadcasters desiring to bring fans deeper into a particular league, Genius Sports provides the tools to enhance athletic competitions.
That said, GENI is down 66% YTD and it’s dropped 16% in the trailing month. Therefore, gamble carefully.
On the date of publication, Josh Enomotodid not have (either directly or indirectly) any positions in the securities mentioned in this article.The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines.
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The post7 Oversold Stocks on the Verge of Blasting Offappeared first onInvestorPlace. || Is Airbnb Stock a Buy Amid Strong Anticipated Summer Performance?: Airbnb (NASDAQ: ABNB ), a leading platform that enables hosts to offer stays and experiences to guests worldwide, has made a 1-month rally of 6.75%. Airbnb has also entered its best period to report strong earnings: the summer. ABNB stock is down 41% in 2022, which brings us to the question of whether the stock is a buy. I believe ABNB stock is not a buy as it remains very pricey. Here’s a closer look at why that’s the case. Ticker Company Current Price ABNB Airbnb $101.47 InvestorPlace - Stock Market News, Stock Advice & Trading Tips Airbnb Must Deliver Strong Summertime Results Seasonality is an important factor that drives the stock market higher or lower and naturally. It is also an important factor for stocks to monitor as well. The summer period marks the busiest period for Airbnb as people need to travel, take their summer vacations and gain valuable experiences, either traveling domestically or abroad. The key quarter for ABNB stock investors to pay attention to is the one ending September, as it will include the entire summer period. Airbnb is expected to release its next quarter’s earnings mid-August 2022, but I consider the quarter ending in September the most important one. According to MarketWatch , in 2021, the quarter that ended on Sept. 30, 2021 was the one with net income growth of 1,322.41% to $833.89 million. It’s also the reason Airbnb is profitable on a TTM basis despite having delivered a net loss for 2021. 7 Widely Held Stocks to Sell Because They're Poised to Plunge Can the trend of soaring sales and net income growth repeat this year? The chances are very high; however, I am not so sure a rally will follow for ABNB stock. The reason is the tighter monetary policy by the Federal Reserve. I expect a relatively volatile summer for the stock market. As such, Airbnb will have to deliver strong results during the summer to make a rebound in its shares that will last. Why Airbnb Will Likely Have a Strong Summer Season According to monthly travel data report by the U.S. Travel Association, “[f]or the first time since the start of the pandemic, travel spending ($100 billion) was 3% ABOVE 2019 levels in April 2022.” The report dives a bit deeper pointing out that “[m]ore than one-quarter (28%) of travelers plan to spend significantly more this summer over their 2019 travel budgets for marquee trips, due to higher prices as well as accumulated savings.” Story continues While this data is promising it’s important to consider a potential negative factor that may create some surprises for travel stocks: Rising gas prices. Another report by AirDNA is positive for the business prospects of Airbnb during the summer of 2022. In 20 major markets, 18 show an increase in short-term rental demand. This demand is expected to increase the average daily rate of spending by visitors. Higher prices should translate to higher revenue and profits for Airbnb. ABNB Stock Remains Too Pricey Compared to the Consumer Discretionary sector, ABNB stock trades at a significant premium in terms of all major financial ratios. There is no financial ratio that makes the stock relatively cheap. Furthermore, the premiums are not marginal, they are extreme in most cases. For instance, using Seeking Alpha data, the price-to-sales (FWD) ratio of 9.58x for ABNB stock has a difference of 1,031.55% from the sector median value of 0.85. The theory and data mentioned above suggest that Airbnb is expected to generate tons of revenue, and probably profits during the summer of 2022. But the stock remains very pricey, and this is not an ideal buy scenario now, as valuation concerns will remain throughout 2022. On the date of publication, Stavros Georgiadis, CFA did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines . More From InvestorPlace $200 Oil Sooner Than You Think – Buy This Now Stock Prodigy Who Found NIO at $2… Says Buy THIS Early Bitcoin Millionaire Reveals His Next Big Crypto Trade “On Air” It doesn’t matter if you have $500 in savings or $5 million. Do this now. The post Is Airbnb Stock a Buy Amid Strong Anticipated Summer Performance? appeared first on InvestorPlace .
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 22609.16, 21361.70, 21239.75, 22930.55, 23843.89, 23804.63, 23656.21, 23336.90, 23314.20, 22978.12
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2020-04-03]
BTC Price: 6733.39, BTC RSI: 49.85
Gold Price: 1633.70, Gold RSI: 55.39
Oil Price: 28.34, Oil RSI: 46.15
[Random Sample of News (last 60 days)]
Altcoins bleed as sell-off wipes $26bn from cryptocurrency market cap: A number of top cryptocurrencies suffered a gruelling weekend of downside price action with the likes of Bitcoin Cash falling by 21% while Ethereum succumbed to a 12.75% pullback. Tough weekend for cryptocurrency The market-wide sell-off saw more than $26 billion wiped from the combined market cap of cryptocurrencies, which now stands at $282 billion after dwindling from $308 billion . Bitcoin was also left reeling after a sufficient move to the downside following a rejection from the $10,500 level of resistance. At the time of writing it was trading back below the psychological $10,000 level at around $9,800, which is in confluence with the daily 22 exponential moving average (EMA). Ethereum stutters Despite the recent sell-off, Ethereum continues to trade above the $250 level of support, which will be key if it begins to rally again during the typically higher-volume start of the week. However, if it breaks below the $250 level in the coming days it will likely cause a micro bearish trend, with price targets emerging at $238 and $221. Another bearish indicator for Ethereum is that it has formed another lower high from a macro perspective, with consistent lower highs following January 2018’s all-time high of $1,420. Since then it has slumped to consecutive lows of $836, $373 and $290, with the long-term bearish cycle seemingly struggling to break. It’s also worth noting that since the turn of the year Ethereum has rallied by more than 131%, so a correction is to be expected if continuation to the upside is to come into fruition. Holding support above $250 and moving back towards the $269 level will be key for ETH this week. A break above $269 would see it re-emerge as one of the more bullish cryptocurrencies in spite of a gruelling weekend. Bitcoin Cash Much to Roger Ver’s dismay, Bitcoin Cash was one of the biggest losers over the weekend as it slumped all the way to $370 before finding a bounce. The cataclysmic fall from grace occurred minutes after it tested the crucial $500 level of resistance which, incidentally, was the yearly high from 2019. A rejection of this magnitude, which saw the $418 level of support fall by the wayside with consummate ease, is a very ugly sign for the world’s fourth largest cryptocurrency. It has been left in dire need of a relief rally to prevent further downside price action. If the price continues to fall throughout this week Bitcoin Cash is expected to slump towards downside price targets of $357 and $328, which would also cause a re-test of the daily 200 exponential moving average. Story continues For more news, guides and cryptocurrency analysis, click here . The post Altcoins bleed as sell-off wipes $26bn from cryptocurrency market cap appeared first on Coin Rivet . View comments || XRP Falls 10% In Selloff: Investing.com - XRP was trading at $0.28266 by 14:44 (19:44 GMT) on the Investing.com Index on Sunday, down 10.02% on the day. It was the largest one-day percentage loss since December 17, 2019.
The move downwards pushed XRP's market cap down to $12.52391B, or 4.34% of the total cryptocurrency market cap. At its highest, XRP's market cap was $20.48129B.
XRP had traded in a range of $0.27109 to $0.31879 in the previous twenty-four hours.
Over the past seven days, XRP has seen a stagnation in value, as it only moved 1.91%. The volume of XRP traded in the twenty-four hours to time of writing was $3.90058B or 2.33% of the total volume of all cryptocurrencies. It has traded in a range of $0.2676 to $0.3455 in the past 7 days.
At its current price, XRP is still down 91.41% from its all-time high of $3.29 set on January 4, 2018.
Bitcoin was last at $9,758.2 on the Investing.com Index, down 1.59% on the day.
Ethereum was trading at $249.85 on the Investing.com Index, a loss of 7.45%.
Bitcoin's market cap was last at $178.48718B or 61.80% of the total cryptocurrency market cap, while Ethereum's market cap totaled $27.67066B or 9.58% of the total cryptocurrency market value.
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Building Up a Base for Crypto: The Story of Coinbase’s Brian Armstrong || Mattel To Close Factory In Canada After Shutting Down Two Asian Units: Mattel Inc.(NASDAQ:MAT) will close afactory in Canadaafter shuttering two manufacturing units in China and Indonesia last year.
What Happened
Mattel, the Hot Wheels toys and Barbie dolls makerwill closeits Mega Bloks factory in Montreal, Canada. The factory will be shut down in 2021, but before that, the company has plans to consolidate its two manufacturing facilities in Mexico.
Mattel had purchased Mega Brands for $460 million in 2014. Mega at that time was the No. 2 player in the $4 billion construction buildings sets category.
In a statement Roberto Isais, the chief supply chain officer at Mattel said, “Over the past year, we have worked to transform our global supply chain which we believe is becoming a competitive advantage. We are continuing to optimize our manufacturing footprint, increase the productivity of our manufacturing infrastructure and achieve efficiencies across our global supply chain.”
Why It Matters
Shutting down of the manufacturing facility located in Montreal’s St-Laurent suburb will lead to 580 job losses. The company will, however, retain the Mega corporate office, as well as the design and brand functions in Montreal, which employ nearly 230 people.
The move by Mattel is in line with other toy manufacturers, such asHasbro Inc.(NASDAQ:HAS), which has been diversifying its manufacturing operations since 2012. Hasbro is in the process of shifting its manufacturing out of China and is exploring other opportunities in Mexico, Vietnam, and India.
Price Action
Mattel shares traded 0.57% lower at $14.00 in the after-hours session. On Friday, Mattel shares had closed 1.61% lower at $14.08.
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© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Vermont Turns to Home-Grown Blockchain Company to Track Hemp With Ethereum: Vermont regulators will track hemp production on the ethereum mainnet in partnership with cannabis supply chain blockchain startup Trace. The five-year deal, announced Monday by Vermonts Agency of Agriculture, Food and Markets (VAAFM), is a production-ready solution for every level of the hemp trade, said Trace CEO Josh Decatur. Beginning in March, farmers and processors will begin putting all associated crop data into the Trace system, which runs on ethereum. It is one of the first times a state regulatory agency has decided to run with the ethereum mainnet, Decatur told CoinDesk in a phone call. The two-year-old company, based in Vermonts capital Montpelier, has built an app users can share details through, and gas fees for conducting transactions are passed onto the users in this case, the state government. Related: Options Market Sees More Risk in Ether Than Bitcoin in Coming Months Everyone is deriving value from innate blockchain tech namely the security that comes with public permissionless blockchain technology, he said. Vermonts regulators said this is the first full-scale government registration and licensing system that pairs blockchain with the nascent hemp industry. Hemp was legalized nationally in the 2018 Farm Bill, but Vermonts program runs under the 2014 edition. A cannabis strain used in the textiles industry, hemp represents a small but growing slice of Vermonts agriculture sector. The Green Mountain State had just 1,000 registered hemp farmers in 2019 with nearly 9,000 acres of farmland, as well as 300 processors, according Stephanie Smith, VAAFMs Hemp Program manager. Its important to understand whats being grown, where its being grown and where its going after being harvested, she said. Related: ConsenSys Project Launches Proof-of-Use Network to Discourage Speculation The mini-boom foreshadowed VAAFMs call for a hemp registration system. Trace, whose CEO has roots in the Northern California grow scene, beat out the competition. Being based in Vermont didnt hurt either. We spent the last couple of years finding innovative ways to hone a product that could meet the tracking and data requirements of a state agency, Decatur said. His Vermont-based team had been building seed-to-shelf tools for other sectors of the cannabis supply chain, such as cannabidiol (CBD) products. The company built patented software , an app and a web portal to document where, when and to whom a plant and its derivative products move. Traces solution relies on the ethereum network. At 15 transactions per second, the network is hardly a salve for industrial users moving massive amounts of data. But that doesnt matter for the low-frequency hemp lot farmers who, Decatur said, only send three to four transactions per year. Story continues The use case that weve applied the tech to fits into the performance restrictions of ethereum, he said. Traces registration system should be live by the end of March, according to Smith, in time for the start of the outdoor growing season in June. Related Stories JPMorgan May Merge Its Blockchain Project With Ethereum Studio ConsenSys: Report Plasma Became Optimism and It Might Just Save Ethereum View comments || Latest Bitcoin Cash price and analysis (BCH to USD): Bitcoin Cash is approaching a bullish breakout above the $238 level of resistance after having consolidated above $200 for the past fortnight. It spiked all the way to $250 yesterday evening before dropping back below the level of resistance during a market-wide sell-off. A breakout above $238 would open the door for a 12.5% rally to the upside, with the next target coming in at $269, which was a level of support earlier this month and a level of resistance in January before the rally to $495. It’s worth noting that the daily 50 EMA crossed the 200 EMA to the downside on March 18 to print a dreaded death cross. An exponential moving average death cross typically precedes a major correction to the downside, in this case a downside target would be 2018’s low of $71. For this to come into fruition Bitcoin, as well as the entire cryptocurrency market, would need to correct to December 2018 levels. One saving grace for the cryptocurrency ecosystem is the upcoming block reward halving, which will see block rewards for miners slashed from 12.5BTC per block to 6.25BTC per block. The previous halving came in 2016 just before the staggering bull run in 2017 that saw Bitcoin rise to $20,000 and Bitcoin Cash to $4,200. From a short term perspective the key levels to look out for on the Bitcoin Cash chart are the $196 level of support and the $238 level of resistance. 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 . || Crypto Needs a Rational Value Investing Model: 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.
Investing in digital assets is a sham! Participants in this industry are simply trying to anticipate price movements rather than use fundamental analysis to determine why a token or coin might go higher or lower. There is no intrinsic value. It’s pure speculation based on technical analysis. It’s outright gambling.
It’s also exactly how stock and bond markets traded for the first 300 years.
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In 1602, the Dutch East India Company issued the first paper shares. This exchangeable medium allowed shareholders to conveniently buy, sell and trade their stock with other shareholders and investors. For hundreds of years thereafter, investors and traders did their best to anticipate price moves, without any of the tools available today for valuing these securities. Back then, a stock trading at $100 was viewed more expensive than a stock trading at $10, independent of number of shares outstanding, underlying revenues, or business prospects.
It wasn’t until the 1920s, following the stock market crash and the Great Depression, that two Columbia University professors, Benjamin Graham and David Dodd, came up with a methodology for identifying and buying securities priced well below their true value. Their book, “Security Analysis,” was published in 1934, and Graham and Dodd’s principles provided a rational basis for investment decisions that are still applied today by the world’s top value investors.
See also:Securities Law Helped Build Modern Capitalism. Crypto Should Embrace It
Warren Buffettchose to attend Columbia specifically to learn from Professor Graham (and received an A+ in his class). Almost 50 years later, Professor Frank Fabozziintroduced similar valuation techniques and conceptsfor investing in fixed income securities. And shortly thereafter, even newer valuation techniques (likeMetcalfe’s Law) were introduced to help value computing networks, and these methods were utilized decades later to value pre-revenue internet giants like Facebook, Tencent and Netflix.
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According to Gisli Eyland, who has written about the value investing philosophy, Graham and Dodd “described a fundamentally different approachto stock picking and investing in corporate securities by proposing that the investor should refrain from trying to anticipate price movements entirely. Instead, the investor should try to estimate the true Intrinsic Value of the underlying asset. Given time, the Intrinsic Value and market value would converge.” Today, investors and financial media throw around financial ratios like P/E, P/B, EV/EBITDA, P/S, Dividend Yield and many others as if they’ve been around forever, while smugly chastising digital assets for havingno intrinsic value. This may be a good time to remind readers that digital assets are less than 10 years old.
When will the Graham and Dodd of crypto emerge? They’re likely already here, working tirelessly behind the scenes on valuation techniques that will be utilized by the Warren Buffets of crypto 50 years from now. Digital assets are still in their infancy, but new fundamental valuation techniques are being built, tested and discovered every day, from the originalMV = PQ analysis, todiscounted sum of utilitymodels, toeverything else in between. Many of the models in existence are unproven, with only a few years’ worth of data to support their methodologies, while other models have likely yet to be conceived.
Each of these methods has advantages as well as shortcomings. Digital assets are unique, similar to corporate bonds, making different valuation techniques appropriate for specific token types. Just like a bond has different coupons, different maturities, different covenants and different features (callable, putable, convertible, warrants, etc.), most digital assets have unique features as well, making each analysis different than the last (there is a reason Fabozzi’s fixed income bible is over 1,800 pages long).
In our view, the DCF analysis is best used for tokens issued by cash-producing companies such as exchange tokens like Binance Coin (BNB) or Unus Sed Leo (LEO). The NVT Ratio may be better when comparing across smart contract platforms such as Ethereum, EOS and NEO. A variation of Metcalfe’s law or total addressable market analysis can be used for tokens that are in the early pre-launch stage or are servicing a sector that is difficult to currently measure.
See also:Never Mind Hodlers, Crypto Needs More Opportunist Investors
The smartest crypto analysts (including our own internal team at Arca) are developing new methodologies to value digital assets. Once these metrics become widely accepted, price floors and ceilings in crypto will be set based on agreed-upon, well-tested fundamental valuation – just like in the debt and equity markets.
I started my career on Wall Street in 2001. I was told to read Frank Fabozzi and Graham and Dodd before showing up for work on day one. I never questioned the legitimacy of these valuation techniques; I simply adopted them because everyone else did, too. Had I started in 1901, prior to “Security Analysis,” I likely would have been asked to learn how to read ticker tapes instead.
Equity markets turned out just fine, despite a rocky start in determining valuation that, in retrospect, seems silly. So did the fixed income markets. And so, too, will digital assets. Investors might want to adopt a more open-minded, long-view approach to investing in this new asset class.
• The Gig Economy Is Unfair. Here’s How Token Models Can Help
• The Tokenization Delusion || Bitcoin Dips Below 6,199.3 Level, Down 4%: Investing.com - Bitcoin fell bellow the $6,199.3 level on Wednesday. Bitcoin was trading at 6,199.3 by 13:26 (17:26 GMT) on the Investing.com Index, down 3.94% on the day. It was the largest one-day percentage loss since March 29.
The move downwards pushed Bitcoin's market cap down to $113.6B, or 0.00% of the total cryptocurrency market cap. At its highest, Bitcoin's market cap was $241.2B.
Bitcoin had traded in a range of $6,157.4 to $6,425.5 in the previous twenty-four hours.
Over the past seven days, Bitcoin has seen a drop in value, as it lost 6.36%. The volume of Bitcoin traded in the twenty-four hours to time of writing was $33.5B or 0.00% of the total volume of all cryptocurrencies. It has traded in a range of $5,872.5044 to $6,813.6519 in the past 7 days.
At its current price, Bitcoin is still down 68.80% from its all-time high of $19,870.62 set on December 17, 2017.
Ethereum was last at $129.66 on the Investing.com Index, down 2.08% on the day.
XRP was trading at $0.16921 on the Investing.com Index, a loss of 3.97%.
Ethereum's market cap was last at $14.4B or 0.00% of the total cryptocurrency market cap, while XRP's market cap totaled $7.5B or 0.00% of the total cryptocurrency market value.
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Amended Ripple Class-Action Covers Possibility XRP Is Not a Security || Latest Ethereum price and analysis (ETH to USD): Ethereum has experienced a death cross on the daily chart with the 50 moving average crossing the 200MA to the downside for the first time since August. It is now desperately clinging onto the $134 level of support after failing to breakout above $145 on Tuesday. A break down from this level will result in a test of support at $109, although the psychological level at $100 may also be tested. A lack of significant volume following the sell-off on 12th March, coupled with the death cross, indicates that further price action to the downside is on the cards in the coming weeks. Much of it will also depend on the direction of Bitcoin as it grinds along the $7,000 level of resistance, although a bullish catalyst may be required for a breakout to come into fruition. From a fundamental standpoint global capital markets continue to bleed as a result of the coronavirus pandemic, which has taken the lives of thousands and caused substantial economic uncertainty. Stock markets in America, Europe and Asia have seen the worst decline since the 2008 financial crisis, with some analysts suggesting that it may get far worse as the virus continues to spread. The fear and uncertainty has spread to the cryptocurrency market as investors seek to liquidate assets into fiat currencies to free up cash-flow. However, the likes of Ethereum and Bitcoin have recovered more than stock markets over the past fortnight, with ETH being 31.26% up against its USD trading pair. Key levels of resistance to look out for in light of a breakout would be $158 and $181. For more news, guides and cryptocurrency analysis, click here . About Ethereum Ethereum was launched by Vitalik Buterin on July 30 2015. He was a researcher and programmer working on Bitcoin Magazine and he initially wrote a whitepaper in 2013 describing Ethereum. Buterin had proposed that Bitcoin needed a scripting language. He decided to develop a new platform with a more general scripting language when he couldn’t get buy-in to his proposal. Story continues More Ethereum news and information If you want to find out more information about Ethereum or cryptocurrencies in general, then use the search box at the top of this page. Please check the below article: https://coinrivet.com/ethereum-adopts-erc-1155-as-an-official-standard/ As with any investment, it pays to do some homework before you part with your money. The prices of cryptocurrencies are volatile and go up and down quickly. This page is not recommending a particular currency or whether you should invest or not. You may be interested in our range of cryptocurrency guides along with the latest cryptocurrency news . Disclaimer: This is not financial advice. || Despite Its Fall, Gold Is Functioning As Intended: While gold prices plummeted roughly $80 as most asset classes are tanking after coronavirus panic has spiraled out of control, the precious metal may still be working as it is supposed to be according to some experts. Gold is often perceived as a safe haven asset for investors, and with Thursday’s plunge in prices, as global stock markets crash yet again, there is evidence that investors have taken shelter by converting the precious metal into cash as is intended to be done with a safe haven asset. “If gold’s being sold to raise cash in an emergency, which is what appears to be happening now, then it is doing its job as a safe haven,” said Brien Lundin, editor of Gold Newsletter. On Thursday, the most-active April gold futures fell $52, or 3.2%, to settle at $1,590.30 an ounce on Comex, after trading as low as $1,560.40. This was the largest one-day percentage loss for the lustrous metal since the 4.6% decline seen on Feb. 28, which at that time represented the biggest single-session drop since June 2013. Despite the safe haven appeal of gold as well as bonds and sometimes Bitcoin, analysts are now warning investors that this is an extremely risky time to be invested in markets. “No investment is safe” for traders or investors at this time, said Chintan Karnani, chief market analyst at Insignia Consultants, in a market update. Retail traders have booked investment losses in February and so far in March, and gold has seen two big selloffs in the past couple of weeks, he said. The losses for gold come as a drop in the U.S. stock market triggered circuit breakers that temporarily halted trading for the second time this week after stocks tanked. The S&P 500 and Nasdaq Composite are poised to join the Dow Jones Industrial Average in ending an 11-year long bull market. In addition to coronavirus-driven panic, a key driver behind the drop in gold is the solid rebound staged by mortgage rates this past week as lenders sought to stem the tide of people looking to refinance their home loans. The 30-year fixed-rate mortgage averaged 3.36% for the week ending March 12, climbing 3.29% from the prior week, Freddie Mac reported Thursday. Story continues For gold buyers looking to load up on this drop, funds like SPDR Gold Shares ( GLD A-) and the SPDR Gold MiniShares ( GLDM ). Precious metals like gold offer investors an alternative to diversify their holdings, and like other commodities, gold will march to the beat of its own drum compared to the broader market, providing diversification. Traders looking for leverage can use funds like the Direxion Daily Gold Miners Bull 3X ETF ( NUGT C+), VanEck Vectors Gold Miners ( GDX B+) and the Direxion Daily Jr Gold Miners Bull 3X ETF ( JNUG B-). This article originally appeared on ETFTrends.com. Click here to read the original article on ETFdb.com. || Bitcoin Extends Rally as Trading Volume for CME Futures Hits Three-Week High: Trading activity forbitcoin(BTC) futures listed on the Chicago Mercantile Exchange (CME) has picked up pace as bitcoin has extended its recent rally to levels above $7,200.
CME traded $347 million worth of futures contracts Thursday – the highest since March 16. On that day, futures witnessed a trading volume of $414 million, according to data provided by research firm Skew.
Thursday’s spike in trading volumes marked a 294percent rise from the preceding day’s tally of $88 million.
Related:Ether-Bitcoin Price Volatility Spread Hits 4-Month Low
Open interest or open positions on futures ticked higher to $170 million on Thursday to hit the highest level since March 11. While open interest denotes the number of contracts that are open or active, volumes represent the number of contracts traded during a specific period.
Institutional interest in the derivatives space, which beganheating upin the fourth quarter of 2019, surged in the first six weeks of this year. For instance, daily trading volume for bitcoin futures on CME rose from $176 million on Jan. 2 to a record high of $1.1 billion on Feb. 18.
See also:‘They Have the Users’: Binance CEO Explains Why He Bought CoinMarketCap
By March 6, however, volumes had dropped to $88million. Open interest also declined from the record high of $338 million to$113 million in the five weeks to March 20.
Related:Bitcoin Briefly Tops $7K as Traders Say Worst of 2020 Sell-Off May Have Passed
Other exchanges also saw a similar drop in theactivity. The aggregate or total open interest in futures listed across theglobe fell below $2 billion in March, having hit highs above $5 billion inmid-February, according to Skew data.
The sudden slowdown in the activity coincided with the global dash for fiat, primarily U.S. dollars, triggered by the coronavirus-led slide in the global equity markets. Institutions likelytook a breakfrom the crypto derivatives market amid the crisis.
As CME is again witnessing higher numbers, activity on other exchanges, too, ispicking up, as evidenced by the rise in aggregate daily volumes to $19 billion, the highest since March 23.
The volume numbers have improved alongside a recovery in bitcoin’s price. The top cryptocurrency by market value rose above $7,200 on Thursday – a level last seen on March 12, when bitcoin’s price had collapsed by nearly 40 percent, according to CoinDesk’sBitcoin Price Index.
At press time, bitcoin is trading near $6,950, representing a 2.4 percent gain on the day.
From a fundamental perspective, the rally from lows under $4,000 seen in March could continue as on-chain metrics have recently bounced out of, or arecurrently sitting in, zones that have historically signaled bottoms, blockchain intelligence firm Glassnodenotedin its weekly newsletter.
Technical charts, too, are biased bullish.
Bitcoin closed above the upper edge of a pennant pattern Thursday, signaling a continuation of the rally and opening the doors for $8,000 – a level last seen on March 12.
The cryptocurrency bounced up from the upper end of the pennant (former hurdle-turned-support) early Friday, reinforcing the breakout. As a result, bitcoin may soon test the resistance of Thursday’s high near $7,200.
However, if buyers fail to keep prices above $7,000 for the second day in a row, a pullback to $6,200 could be seen. The cryptocurrency has already failed three times in the last two weeks to establish a foothold above $7,000.
Disclosure:The author holds no cryptocurrency at the time of writing.
• Bitcoin Enters Historically Strong Quarter With 3% Price Gain
• Bitcoin Takes Tumble, Traders Fret Correlation and Next Month’s Halving
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: no change || Prices: 6867.53, 6791.13, 7271.78, 7176.41, 7334.10, 7302.09, 6865.49, 6859.08, 6971.09, 6845.04
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Market Wrap: Crypto Mining Stock Hut 8 Jumps on Unusually High Trading Volume: Shares of cryptocurrency mining firm Hut 8 Mining Corp. (TSX:HUT) surged 32 percent with unusually high trading volume on the Toronto Stock Exchange Friday. The huge, surprising bounce for the stock arrives after the firm warned earlier in April that coronavirus-related issues might hurt its business. Like cryptocurrencies themselves, mining company stocks are prone to violent swings, noted Moe Adham, CEO of Canada-based crypto BTM operator Bitaccess. Related: First Mover: Bitcoin Attracting More Buyers, Even With Market Stuck in ‘Extreme Fear’ “These stocks are thinly traded. Happens all the time,” said Adham, who also sits on the board of publicly traded Cypherpunk Holdings (Canadian Stock Exchange: HODL). Read more: In Canada They’re ‘Essential,’ In Argentina They’re Shut Down: Bitcoin Miners Reckon With COVID-19 However, volumes for Hut 8’s stock are over 1.5 million in shares traded Friday, nearly eight times the daily average. The stock’s price did dip some in afternoon trading Eastern time, but the jump is still striking. Related: Bitcoin Volatility at 3-Month Low as Market Awaits Big Price Move The advantage Hut 8 enjoys in Canada, where cryptocurrency mining is deemed “essential” during the coronavirus pandemic and thus exempt from a government lockdown, gives it an edge over competitors in other countries. As the bitcoin halving looms, traders will be watching publicly traded crypto mining companies to better understand the profitability of generating BTC for cash flow. Oil price decline no help to crypto miners The drop in oil prices this year has been a huge topic for traders across all markets, including crypto. On Jan. 2, the first day of trading for the year, oil changed hands for as high as $64 a barrel. On Friday, the commodity traded in a narrow $18 range. Oil prices are often seen as a bellwether for energy costs. However, it is a poor proxy for these costs when discussing bitcoin mining, which mostly utilizes green energy sources, said Simon Peters, a crypto analyst at multi-asset brokerage eToro. Story continues “The most recent report from CoinShares suggests 73 percent of the energy used for bitcoin mining comes from renewables rather than fossil fuels such as oil,” Peters said. In addition, Hut 8 uses natural gas, notes CoinDesk Research’s Matt Yamamoto, who is working on a report about the company. Read more: Bitcoin Mining Hardware War Is Heating Up Ahead of the Halving Hence, any reduction in energy prices due to oil’s decline will likely not help the crypto mining industry, Peters said. “If we did see all energy providers reduce their kilowatt hour rates, including renewables, then possibly less-efficient mining operations may still be able to hold their heads above water, post-block reward halving.” Crypto markets Bitcoin prices have climbed by less than 1 percent over the last 24 hours, according to CoinDesk’s Bitcoin Price Index as of 20:50 UTC (4:50 p.m. EDT) Friday. Bitcoin is above the 50-day moving average on spot exchanges such as Coinbase but trading action has been fairly flat, with little up or down movement. For most of the day, bitcoin has ambled in a $7,000-7,200 range. Digital assets are mixed on CoinDesk’s big board for the day. Ether (ETH) slipped less than a percent. Gainers include dogecoin (DOGE) gaining 2 percent, cardano (ADA) up 1.3 percent, and bitcoin gold (BTG) in the green 1.2 percent. One notable loser today is lisk (LSK), in the red 1 percent. A sharp increase in stablecoin issuance is giving traders an easy place to park value on flat bitcoin days like Friday, according to Mitesh Shah, an analyst and founder of Omni Markets, which studies the crypto market. “As we have seen with the current economic climate created by the pandemic, many crypto investors liquidated BTC, ETH, LTC and XRP holdings and invested in stablecoins as a storage of value,” Shah said. Sitting in price-stable crypto may even set the stage for a bitcoin binge in the future when traders decide to not sit on the sidelines. Indeed, in this uncertain environment access to the U.S. dollar (which many think of as the world’s reserve currency) in the form of a blockchain-based asset is highly attractive to global traders. “Fiat currencies [other than the dollar] are getting impacted by the latest economic turmoil, which results in the fluctuation in exchange rates, reducing the purchasing power and inflation in the market,”said Constantin Kogan, partner at crypto fund BitBull Capital. “Hypothetically, these issues can be overcome by the use of stablecoins,” he said. Other markets Gold, the supposed stable safe haven asset in tumultuous times crypto fanatics also love to follow, is slipping 2 percent and trending downward below 10-day and 50-day moving averages. In Asia, the Nikkei 225 climbed 3.1 percent on the day, a six-week high. The Tokyo-based stock index was tracking highs on U.S. equities futures amid optimism for a coronavirus vaccine. Europe’s FTSE 100 index end its day up 2.4 percent as excitement over possibilities for pandemic drug remdesivir spilled over to the London trading day. In the United States, trading of the S&P 500 index climbed 2.7 percent. U.S. Treasury bonds were mixed as the Federal Reserve slowed bond buying after the past two days saw all yields in the red. For Friday, 30-year and 10-year remain relatively flat while the 2-year price dropped 8.4 percent. Related Stories Hong Kong’s First Regulator-Approved Bitcoin Fund Targets $100M Raise Crypto Long & Short: The Battle of the Yields || This Unstable Moment Is a Chance for Crypto to Go Mainstream: Mark Blackman consults on emerging technologies after a career at Qualcomm. James Cooper, a CoinDesk columnist, is a professor of law at California Western School of Law in San Diego. With the impacts of COVID-19 still ravaging financial markets and trillions being deployed by governments and central banks to stem the economic carnage, one cannot help but wonder if this is cryptocurrency’s breakout moment. This unstable environment seems ripe for cryptocurrency to come out of the shadows and become a viable asset class and legitimate alternative to our fiat-based economies. With the proposals for a digital dollar , some legislators in the U.S. Congress seem to think so. Within a matter of weeks, we have gone from living our lives unencumbered from worry to being confined to our homes and practicing social distancing. With this backdrop, it is easy to believe anything is possible. But is the United States and the rest of the world ready to broadly accept and utilize digital currencies and related blockchain innovations? Related: Bitcoin Is a Safe Haven for a Worse Storm Than This See also: The Overton Window Opens for a Digital Dollar Technology is disruptive, given all the economic and political impacts that come with the adoption of innovations. It is no surprise that the legal structures to regulate the manner in which society utilizes new technologies always lag behind the technologies itself. The regulatory issues surrounding cryogenic freezing of embryos, the advent of online gambling, or the distribution of digitized music are good examples. Our Founding Fathers did not think about any of these when they set out to create the structures for the democratic governance of this country. Cryptocurrencies and blockchain technologies are no different on the regulatory front. The agencies tasked with protecting consumers concerning securities, overseeing currency, and ensuring the fairness in commodities trading have been slow-footed to catch up to the workings of this complex technology. Story continues We need to clearly determine to what extent smart contracts can be enforced in a court of law. Related: We Won’t Ever Think About the Financial System the Same Way The dearth of core legal prescriptions is preventing massive adoption. Financial services, property titles, and tax accounting all require new regulations to accommodate the changing realities brought on by blockchain technologies. We need to clearly determine to what extent smart contracts can be enforced in a court of law. There is also a need to increase privacy protections before there is broad adoption of blockchain technologies. Without the fundamentals in place, it will be difficult to trust this new technology with our sacred social relations – identification, our money, our reputation and so forth. This will not be any easier given the immediate need to rebuild our financial systems but for many of us, our jobs themselves. Beyond the legal challenges, there is the ever-present hurdle of user adoption which continues to prevent the wide scale acceptance of cryptocurrencies. Despite all of the issues with fiat-centric currency, there is great comfort in the traditional security that our current financial services regime provides. If a thief steals your credit card, your funds are replenished; if a bank goes bankrupt, up to $250,000 is covered by the Federal Deposit Insurance Corporation; and if the bailouts and economic stimulus packages achieve their intended outcomes, then our loyalty to the current centralized banking system will only grow. See also: As This Crisis Worsens, Bitcoin Will Become a Safe Haven Again For the new world of cryptocurrencies to go mainstream, the average consumer must work through the complexity of current key management implementations. In particular, if cryptocurrencies become a truly distributed asset class, consumers should also be ready to assume their own losses through theft or user error. To maintain legitimacy, we must build the capacity of individuals and businesses to navigate the thousands of incompatible coins and projects to determine what best services their needs. There is a huge need for public education to this end. Moreover, there are few decentralized applications that have sparked the public’s interest or demonstrate a true utility. Even as Congress considers the use of a digital dollar in its varying versions of the newest stimulus package and the U.S. Federal Reserve Bank continues its study of a digital dollar’s role in the economy, technical and user adoption blockers will remain. There is no doubt a digital dollar can serve as a necessary transitional step, but it will be a new, unproven technology, with the highest of requirements to ensure the scalability, reliability, and ease of use. These problems reflect the legacy of trust that the U.S. (paper) dollar provides. It is likely that government-designed solutions will fail short of their intended mark when compared to proven open source deployed by an ecosystem of competing tech firms. The federal response to the economic chaos of COVID-19, with both Senate and House bills having considered the introduction of a digital dollar, may well expedite mainstream acceptance of cryptocurrencies. While not known for their nimble innovation nor expedited implementation of laws, the actions this week by the federal authorities auger well for the future of cryptocurrencies. They will not, however, result in a sea change in the world’s financial systems. That will take some time – just like a vaccine for the coronavirus. Related Stories For DeFi’s Sake, Maker Should Take Blame for Black Thursday Losses The Pandemic Gives Digital Currencies Another Chance to Shine || Bitcoin price crashes by $800 in minutes: Theprice of Bitcoin (BTC)has suddenly dropped by $800, falling from $10,200 to $9,400. Since the drop, the price has recovered somewhat, back up to $9,600.
This has reverberated across the crypto markets. All bar one of the top ten coins by market cap are in the red, withBitcoin Cash (BCH)down 8% andEOSdown 12%.
As a result, the entire crypto market cap—which was just under $300 billion earlier today—has sunk to $280 billion. Bitcoin's market dominance has dropped too, falling to 63% of the entire crypto market.
The US closes big sale of $40 million Bitcoin
The crypto markets have been rallying since the start of the year, with the entire crypto market up 50%. Altcoins have been leading the way, makinggains against Bitcoin. In particular, proof-of-stake coins havebeen performing well.
The price of Bitcoin managed to break through the $10,000 mark several times during this rally but fell back through each time. However, the price still remains in an upwards channel, so the rally is not yet over—for now. || 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 withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublica,IHeartRadioorRSS.
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
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.
• Bitcoin News Roundup for Feb. 27, 2020
• Is Bitcoin a Safe Haven or ‘Schmuck Insurance’?
• CoinDesk Explains SIM Jacking || CME Bitcoin Futures Daily Trading Volume Hits 2020 Low Thats a Bullish Sign: Daily trading volume in bitcoin (BTC) futures listed on the Chicago Mercantile Exchange (CME) dropped to year-to-date lows on Friday. The volume hit $118 million, the lowest level since Dec. 31. On that day futures recorded volume of $112 million, according to Skew Markets. Whats worth noting is volumes have pulled back sharply from the multi-month highs registered on Feb. 18. CME traded $1.1 billion in volume this past Tuesday. That was the first above-$1 billion daily volume since June 27, 2019. Related: Above $10K: CME Bitcoin Futures Hit 3.5-Month Highs Bitcoin CME futures contracts, which went live in December 2017, have recorded above-$1 billion daily volume only three times. While daily volume collapsed in the last three trading days of the previous week, open interest remained near the seven-month high of $338 million, registered on Feb. 14. Open interest refers to the number of futures contracts outstanding on an official exchange at any one time, while volume is the number of contracts traded in a given period. A drop in volume accompanied by an elevated open interest is usually considered a sign of investors holding on to their positions. In such cases, the market usually extends the preceding move; bitcoins price rose over 50 percent from lows below $7,000 to $10,500 in the six and a half weeks to Feb. 18. Related: Open Positions in Bakkts Bitcoin Futures Jump to Record Highs A rally like that is said to have legs since the price gain was backed by an increase in open interest and trading volume. In the first six weeks of the year, daily volumes increased from $176 million to $1.1 billion and open interest rose from $127 million to $338 million. Bakkt open interest slides Activity in bitcoin futures listed on Intercontinental Exchanges Bakkt platform has cooled recently, with open interest plunging from a record high of $19 million down to $10 million in just seven days to Feb. 20. Meanwhile, daily trading volume (cash-settled plus physically-settled) declined to $18.6 million on Feb. 21, the lowest since Jan. 24. Bakkt futures witnessed a record trading volume of $50.1 million on Dec. 18. Related Stories ICE CEO: New Acquisition Opens Trillion-Dollar Market for Bakkt ICE Snaps Up Loyalty Program Provider Bridge2 to Boost Bakkts Consumer Play || CME Bitcoin Futures Daily Trading Volume Hits 2020 Low – That’s a Bullish Sign: Daily trading volume inbitcoin(BTC) futures listed on the Chicago Mercantile Exchange (CME) dropped to year-to-date lows on Friday.
The volume hit $118 million, the lowest level since Dec. 31. On that day futures recorded volume of $112 million, according to Skew Markets.
What’s worth noting is volumes have pulled back sharply from the multi-month highs registered on Feb. 18. CME traded $1.1 billion in volume this past Tuesday. That was the first above-$1 billion daily volume since June 27, 2019.
Related:Above $10K: CME Bitcoin Futures Hit 3.5-Month Highs
Bitcoin CME futures contracts, which went live in December 2017, have recorded above-$1 billion daily volume only three times.
While daily volume collapsed in the last three trading days of the previous week, open interest remained near the seven-month high of $338 million, registered on Feb. 14.
Open interest refers to the number of futures contracts outstanding on an official exchange at any one time, while volume is the number of contracts traded in a given period.
A drop in volume accompanied by an elevated open interest is usually considered a sign of investors holding on to their positions. In such cases, the market usually extends the preceding move; bitcoin’s price rose over 50 percent from lows below $7,000 to $10,500 in the six and a half weeks to Feb. 18.
Related:Open Positions in Bakkt’s Bitcoin Futures Jump to Record Highs
A rally like that is said to have legs since the price gain was backed by an increase in open interest and trading volume. In the first six weeks of the year, daily volumes increased from $176 million to $1.1 billion and open interest rose from $127 million to $338 million.
Bakkt open interest slides
Activity in bitcoin futures listed on Intercontinental Exchange’s Bakkt platform has cooled recently, with open interest plunging from a record high of $19 million down to $10 million in just seven days to Feb. 20.
Meanwhile, daily trading volume (cash-settled plus physically-settled) declined to $18.6 million on Feb. 21, the lowest since Jan. 24. Bakkt futures witnessed a record trading volume of $50.1 million on Dec. 18.
• ICE CEO: New Acquisition Opens Trillion-Dollar Market for Bakkt
• ICE Snaps Up Loyalty Program Provider Bridge2 to Boost Bakkt’s Consumer Play || Bitcoin is 'digital gold,' says Finder.com co-founder: Cryptocurrency isn’t going anywhere — in fact it’s set to take a leap forward in coming years, says tech entrepreneur and Finder.com Co-founder Fred Schebesta.
“I'm a big believer in Bitcoin,” he says. “I think it's like digital gold. I think it will last on and on and on.”
In a newly released interview, taped on March 2, Schebesta rejects pessimists who say cryptocurrency is a passing fad, noting that the price of Bitcoin (BTC-USD) has remained stable of late.
“Bitcoin's been called dead for 10 years now,” he says. “Seems to still be going. You know, I think the price is holding up pretty well throughout this as well.”
As of Thursday afternoon, the price of Bitcoin stood at $9,115, marking a 20.7% increase over the past three months, while the S&P 500 has fallen 3.5% over that period. Bitcoin surged at the outset of this yeardespite coronavirus fears.
“These geopolitical events including coronavirus and geopolitical tensions really improve the use case,” Tom Lee, Fundstrat Global Advisors managing partner,told Yahoo Finance’s YFi PMlast month.
Critics of cryptocurrency, like Berkshire Hathaway (BRK-A,BRK-B) CEO Warren Buffett,say it doesn’t hold any valueas a tool of exchange or source of production. Cryptocurrency will “come to a bad ending,” Buffetttold CNBCin 2018.
Along those lines, Yahoo Finance Editor-in-Chief Andy Serwer asked Schebesta: “I know that's a big interest of yours, but isn't crypto over, man?”
“Crypto is in the beginning,” says Schebesta, 38, who — in additional to his role at Finder.com — is the CEO of a blockchain company called HiveEx. “I actually think it needs another five years to cook.”
HiveEx, which Schebesta co-founded in 2018, helps high net-worth traders buy or sell large amounts of cryptocurrency, according to its website. Stock transfers, for instance, offer a significant business opportunity for blockchain, he said.
“Settlement of stocks right now is a small to large disaster in terms of its paper and all those kind of things,” he says. “So it's where blockchain does so well.”
Schebesta made the remarks during a conversation that aired in an episode of Yahoo Finance’s “Influencers with Andy Serwer,” a weekly interview series with leaders in business, politics, and entertainment.
In 2006, at age 26, Schebesta founded Finder.com, a comparison shopping website that now operates in 83 countries and employs 310 people full-time, Schebesta says. Last October, theAustralian Financial Review rankedSchebesta — who lives in Sydney — as the 22nd richest Australian under 40 years old, with a net worth of $193 million.
Schebesta compared the current state of cryptocurrency to the early days of the internet.
“It wasn't until Hotmail with email was the internet at all interesting to most people,” he says. “Or, you know, when really, data became fast enough on your phone.”
“It just takes time for those technologies,” he adds. “That’s the same with blockchain technologies...it’s just going to take some time to cook.”
Still, one cryptocurrency venture faced a setback this week. On Tuesday,The Information reportedthat Facebook (FB) would scale back plans for its cryptocurrency Libra, after the venture drew scrutiny from lawmakers and the public.
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• Read the latest financial and business news from Yahoo Finance || Bitcoins Price Steady Over $9,000 As Sentiment Stays Positive: As global equity markets continue to get pummeled, bitcoins return to the $9,000 level may have been driven by some of the same forces causing a rally in bonds a desire for respite from a coronavirus-plagued markets . After sharp gains in price Thursday, bitcoin (BTC) has been trading steadily in a range between $9,000 and $9,200. For the past 24 hours, bitcoins price change has been minimal, down half a percent as of 18:00 UTC (1 p.m. ET). Traders see bitcoins jump back into the $9,000 range as another sign bitcoin is trending upward in 2020 while traditional markets stumble. Year to date, bitcoin is up over 26 percent while the S&P 500 stock index is down 9 percent. Cryptocurrency sentiment appears bullish as prices remain above significant moving averages. Related: Market Liquidations Cause Cascade in Bitcoin Price Although traders seem to be open to viewing the cryptocurrency markets as a safe haven from stock market turmoil, more volatility is possible ahead of Mays halving , an event that will slash in half the reward bitcoin miners obtain. Its a relief rally. In my opinion, we have a likelihood of sweeping another low before the post-halvening rally, said Mostafa Al-Mashita of Canadian crypto brokerage firm Secure Digital Markets. The S&P 500 closed down 3 percent Thursday as coronavirus fears reversed the small post-Super Tuesday rally. Equities traders cheered the results of the U.S. Democratic primary election favoring former Vice President Joe Biden over senators Bernie Sanders and Elizabeth Warren, candidates seen as openly hostile to capital markets. Also, bitcoin prices moved higher on optimistic banking news from India and positive regulatory clarity from South Korea . I believe gold and BTC are safe havens, said Henrik Kugelberg, a Sweden-based crypto OTC trader. As coronavirus has just started to spread, I believe a strong market will last well until the halving will have effect. To me it seems plausible that we can hit an all-time high this year, perhaps within six months. Story continues Related: Bitcoin, Bonds and Gold: Why Markets Are Upended in a Time of Fear Gains in the cryptocurrency sector Friday include Lisk (LSK) in the green 4 percent, ether (ETH) up 2 percent, and bitcoin cash (BCH) appreciating 1 percent. Losses in crypto include bitcoin SV (BSV), bitcoin gold (BTG) and ethereum classic (ETC) all down 3 percent Related Stories Bitcoins Sharp Price Drop May Have Been Prompted by $120M Scam Sell-off Asset Ratings Giant Morningstar Takes First Plunge Into Blockchain Securities || Blockforce Capital’s Crypto Fund Captures 86% of Bitcoin’s Upside in 2020: In the first two months of 2020, Blockforce Capital’s multi-strategy master fund saw a 16.8 percent return compared to a 19.5 percent return inbitcoin(BTC), the company announced in a note to accredited investors.
Blockforce is a seasoned exchange-traded fund (ETF) issuer that specializes in alternative investment vehicles for investors. In February of last year the company infamously filed the first proposal for an ETF made up of amix of currenciesincluding bitcoin, only topull the fundat the U.S. Securities and Exchange Commission’s request the next day. Currently, the company only offers bitcoin-related funds to accredited investors.
Low volatility is the San Diego-based asset manager’s target for its multi-strategy fund, which hit its one-year anniversary this month.
Related:Australian Regulator Gives Green Light to App-Based Retail Bitcoin Fund
With volatility of 24.5 percent compared to bitcoin’s 74 percent, Blockforce claims its fund has a third of the volatility of the cryptocurrency, capturing 86 percent of the upside of bitcoin and 12.5 percent of the downside.
The fund’s goal is to capture more than 80 percent of bitcoin’s returns with about 40 percent of bitcoin’s losses. It’s supposed to “give people something they can invest in without all the stomach acid of a direct cryptocurrency investment,” Blockforce CEO Eric Ervin said.
Forty percent of the fund is based on systematic strategies based on long-term and short-term trends in a mix of large-cap cryptocurrencies: bitcoin,bitcoin cash(BCH),litecoin(LTC),ether(ETH),XRPand Binance coin (BNB). (This 40 percent is heavily weighted toward bitcoin, Ervin said.) Twenty percent of the fund is based on a mix of these large-cap crypto assets in general, and the rest is based on stablecoin lending.
The upside performance of the fund has improved significantly since last year, the company noted. In the first four months of the fund’s operations in 2019, the fund only increased by 32 percent while bitcoin rose more than 180 percent. From July to December, the fund only dropped 16 percent while bitcoin fell by 33 percent.
Related:Why the SEC Asked Blockforce Capital to Pull a Bitcoin ETF Proposal as Soon as It Was Filed
“One thing to keep in mind when evaluating performance throughout 2019 was the erratic nature of returns,” Ervin said in the note, adding:
“In November, after a portfolio management team change, we significantly reduced the complexity of the models, we slowed down some of the signals and focused our research efforts on optimizing for trade frictions as well as identifying high-probability trends to confirm either up, down or sideways markets. These model updates went live in December and we have been very pleased with the results since that time.”
The company will continue to add updates to its “research in pain pattern recognition, predictive signals for correlation breakdowns and some other areas.”
Blockforce’s thesis, Ervin wrote, is the firm “will generate the bulk of [its] alpha through downside risk mitigation, portfolio overweights and underweights and the tactical use of digital asset lending in the portfolio.”
• Canadian Fund Manager 3iQ Files Prospectus for Bitcoin Fund IPO
• ASX-Listed DigitalX Seeds New Fund With Half Its Bitcoin Holdings || Bitcoin Cash Halved, DeFi Gets a Boost and Bisq Halts Trading: Bitcoin cash, the splinter cryptocurrency that forked from the Bitcoin blockchain in 2017, underwent its first programmable halving. Like other proof-of-work blockchains, bitcoin cash (BCH) manages its monetary supply by slowly printing mining rewards to machines that secure its network by solving complicated mathematical problems. As of Wednesday morning, miners will receive half the amount of BCH for essentially the same amount of work. In the past, these halving events proceeded cryptocurrency price rallies, but industry experts have their doubts a bull run is in store for Bitcoin Cash. Youre reading Blockchain Bites , the daily roundup of the most pivotal stories in blockchain and crypto news, and why theyre significant. You can subscribe to this and all of CoinDesks newsletters here . Heres the story: Top Story Related: First Mover: Bitcoin Cashs Halving Was Dull Bitcoins May Be Much the Same Halving effects Bitcoin cash the blockchain that forked off bitcoin (BTC) in 2017 reduced its block rewards by half, hitting some miners gross revenues hard. The mining difficulty and hash rate on bitcoin cash a measure of how much miner power is participating on the network was already on a downward trend in the run up to the halving, following a drop in the splinter currencys price. The bitcoin cash event foreshadows the halving scheduled for the Bitcoin network in about 35 days, which is 26 times larger than BCH in terms of market capitalization, as well as Bitcoin SVs halving expected this Friday. Halvings have been an important variable in cryptocurrency price increases in the past, though developers on these break-off chains expect some miners to defect for more lucrative opportunities. Roger Ver, BCHs project steward, said it will be a non-event. DeFiers TD Ameritrade, Cumberland, CMT Digital, DV Trading and Jump Trading, as well as venture capital firm Volt Capital and the DeFi startup Compound, joined forces in the Chicago DeFi Alliance (CDA). Announced Wednesday, the new group will focus on providing advisory services to select crypto startups working on decentralized finance initiatives. Tezos is getting a wrapped version of bitcoin, bringing BTCs liquidity and the hopes of a nascent decentralized financial ecosystem to its proof-of-stake blockchain. Bitcoin Association Switzerland, Tezos Foundation and multiple partners will issue the token, called tzBTC. The news comes on the heels of a tBTC bridge between Ethereum and Bitcoin announced last week. Story continues Programmable money The Bank of England (BoE) thinks private cryptocurrencies may have a role in the future of money. Although the BoE has already said bitcoin and other similar cryptocurrencies dont meet the necessary criteria to be considered money, CBDC analyst Ben Dyson said, that doesnt mean that its impossible for somebody to improve upon that technology and create something that much better fulfills the qualities of money. Banking services provider Sila has raised $7.7 million to build out a platform that allows entrepreneurs to easily launch programmable, USD-pegged stablecoins. Exchanges Account holders at the now-defunct Cryptopia exchange are entitled to their balances still held in trust, a judge has ruled. This decision places the interests of exchange users over the 37 creditors and 90 shareholders also vying for their portion of the remaining assets. Decentralized or non-custodial cryptocurrency exchange Bisq has halted trading due to a critical security vulnerability. While users can override the block, the exchange highly discourages traders from doing so. ( The Block ) Related: Blockchain Bites: Chinas Commitment, Sanctions Evasion and a Look at Bitcoins Core Cash deals SoFi will acquire payment processor Galileo in a $1.2 billion deal. ( The Block ) HDR Global Trading, the operator of cryptocurrency exchange BitMEX, has granted $400,000 over four years to nonprofit security organization Shadowserver Foundation, to bolster internet security. ( The Block ) Coronavirus challengers Jack Dorsey will place $1 billion, what he says is roughly 28 percent of his wealth, into a limited liability company he started called Start Small to fight the coronavirus. ( TechCrunch ) Bay Area researchers are turning to waste water to track COVID-19 outbreaks in cities. ( Wired ) Market Intel Liquidity Bid-ask spreads on major exchanges widened dramatically in March, following coronavirus-led market turmoil. The bid-ask spread is an indicator of market liquidity, measuring the gap between the highest price a buyer would pay and the lowest price a seller would accept. Halving hope Halvings are not always bullish, and many experts think bitcoin cash has a rough road ahead to retain price and mining capacity. The conventional crypto wisdom that halvings magically induce a bull run such that the real USD value of miner revenue does not cut in half is naive wishful thinking, encouraging investors to be fooled by correlation/causation, said Zach Resnick, managing partner at Unbound Capital. Halving report In May of 2020, bitcoin is expected to undergo its third halving, a programmed supply reduction that has in the past coincided with a strong run-up in the bitcoin price. In this paper, we explain what the bitcoin halving is, why it matters and why the market is so focused on this event. The Breakdown Market rally Epsilon Theorys Ben Hunt and NLW discuss why markets are rallying as we enter what promises to be the deadliest week of the virus in the US yet. The question is: Is the rally in both stocks and crypto premature? Who Won #CryptoTwitter? Blockchain Bites is CoinDesks daily news roundup of the most important stories in blockchain tech from here and around the web. You can subscribe here . Related Stories First Mover: Bitcoins Back in the Black for 2020 Blockchain Bites: Major Crypto Players Sued, Steem Froze Accounts and More
[Random Sample of Social Media Buzz (last 60 days)]
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Trend: up || Prices: 6881.96, 6880.32, 7117.21, 7429.72, 7550.90, 7569.94, 7679.87, 7795.60, 7807.06, 8801.04
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Can Litecoin achieve a new all-time high in 2020?: The 2017 cryptocurrency bull run made history for its rather unexpected yet rewarding nature, with the heavily scrutised Bitcoin rising like a phoenix to $20,000 while other altcoins like Litecoin also surged to new all-time highs. Litecoin’s run to $420 was not only one of the most captivating but also one of the most surprising considering its value was just $3 at the start of 2017 . March 30 will go down in history for Litecoin bulls as the spark that ignited the tremendous surge in price action. It rose by more than 90% to mark its largest ever one-day gain. The 2018 bear market was as gruelling as 2017 was euphoric. Litecoin fell by more than 75% within the space of one month before a one-year downtrend eventually saw its price slump to as low as $20. However, the first six months of 2019 acted as a period of resurgence for Litecoin as it rallied to $146 on the back of news that Facebook would be launching its own cryptocurrency dubbed ‘Libra’. The sentiment surrounding Litecoin in 2019 can also be compared to the start of 2020 with it recording a 101% gain since the turn of the year. And while it seems as though a major cryptocurrency bull market is far away, a number of technical indicators seem to suggest that it might be on the cards this year. Golden cross Litecoin recently experienced a daily exponential moving average (EMA) golden cross, which saw the 50 EMA cross the 200 EMA to the upside. The previous time this happened was in March 2019 which preceded a 180% rally to the upside in a matter of months. This time around it could well inflate price even more as anticipation mounts surrounding Bitcoin’s halving event, which will take place in May. Block rewards for miners will be slashed from 12.5BTC to 6.25BTC per block, which has historically caused the price of cryptocurrencies to rise as supply dries up. Whether or not it will see Litecoin form a new all-time high remains to be seen, but an influx of institutional investment in the industry suggests that it’s an exciting time for a number of the top cryptocurrencies. For more news, guides and cryptocurrency analysis, click here . The post Can Litecoin achieve a new all-time high in 2020? appeared first on Coin Rivet . View comments || New Zealand Plans to Drop ‘Unfavorable’ Sales Tax Treatment of Cryptocurrencies: New Zealand’s tax authority is considering changes to its treatment of cryptocurrencies that would drop the current and controversial application of goods and services tax (GST). The current regime sees bitcoin (BTC) and other digital currencies as property, with normal rules applying. That means crypto is liable for 15 percent GST when changing hands within the country as part of a business’s operations and potentially throws up a “double taxation” problem when income tax is later applied. Calling the situation “unfavorable,” the New Zealand Inland Revenue Department (IRD) has now suggested doing away with the GST liability for cryptocurrencies in many cases, but keeping the treatment for income tax. Related: IOTA Being Shut Off Is the Latest Chapter in an Absurdist History In a policy issues paper made public on Monday, the IRD states: “Because of their innovative nature, [cryptocurrencies] will often also have different features to … other investment products. This means that some existing tax rules can be difficult to apply, involve very high compliance costs or may provide policy outcomes for some crypto-assets that lead to over-taxation compared to other alternative investment products.” The overall aim of any changes would be that cryptocurrencies should have a similar treatment to other investment products or asset classes that are “close substitutes” for the digital asset. An issue being considered by the IRD is whether different types of tokens should have different tax treatments depending on how they are used. One way forward is that tokens used like currency or shares would likely not be liable to GST while other types might see the sales tax applied. Related: Wikipedia Co-Founder Says Crypto Integration Would Be ‘Completely Insane’ “An advantage of this approach is that it should provide a neutral tax treatment for those crypto-assets which are close substitutes for existing financial products such as currency or shares,” the IRD says. Story continues The tax department suggests it might still treat some tokens differently; for instance, if a token is considered to be a share “but if it does not provide an interest in a foreign company or partnership, it would still be taxed very differently to other foreign equity investments.” Yet, with thousands of tokens now available offering different use cases and features, the IRD says there may be “practical limitations” to their potential classification for tax purposes. As such, a different approach being considered is to usher in more general changes to tax rules that are seen as throwing up “the most significant policy issues when applied to crypto-assets.” “There appears to be a case to exclude most types of crypto-asset from the GST and financial arrangement rules by developing a broad definition of crypto-assets for this purpose,” says the IRD. Whatever the solution, Inland Revenue recognizes change is needed. The department says, “The current GST rules provide an uncertain and variable GST treatment making, using or investing in crypto-assets less attractive than using money or investing in other financial assets.” Parties with an interest in the issue have until April 9 to offer their opinions on the best solution. Australia, which had previously also imposed GST on some crypto transactions, ended the policy in October 2017. Singapore proposed the same policy change last summer. Related Stories Policymakers Shouldn’t Fear Digital Money: So Far It’s Maintaining the Dollar’s Status The IRS Is Inviting Crypto Firms to a ‘Summit’ in DC Next Month || Bitcoin shows resilience with 10% surge as stocks stutter: Bitcoin is on its way to reinstating its reputation as a safe haven asset as it rallied by more than 10% in the past 24-hours. The sudden move to the upside coincided with a further correction in global stock market indexes, with the Dow Jones and FTSE100 tumbling towards key levels of support. At the time of writing Bitcoin is trading above $5,600 as it takes aim at the $5,800 level of resistance after consolidating over the past week. A break above $5,800 moving into the typically low-volume weekend will be key for Bitcoin if it is to continue rallying until Mays halving event. However, a rejection from this level could prompt a test of last weeks low of $3,600, which would in itself come alongside an abundance of fear and panic from investors. The fact that Bitcoin seems to be finally decoupling with the stock market is undoubtedly bullish in the short term, with the global economy facing a daunting task to recover from the impact of coronavirus. If a sudden spike in cases or mortality rates comes to fruition it would almost certainly worsen the plunge in global equities, especially as economic stimulus from developed nations has already been squeezed. This is when Bitcoin will need to perform as many thought it would; by acting as a hedge to the traditional financial system in the same way gold has for decades. That belief has been damaged over the past month with Bitcoin losing half of its value while several altcoins have fallen by more than 70%. But the recent show of strength has clawed back the negative perception, with investors now eyeing up Bitcoin ahead of a potential breakout. For more news, guides and cryptocurrency analysis, click here . Bitcoin pricing Current live BTC pricing information and interactive charts are available on our site 24 hours a day. The ticker bar at the bottom of every page on our site has the latest Bitcoin price. Pricing is also available in a range of different currency equivalents: Story continues US Dollar BTCtoUSD British Pound Sterling BTCtoGBP Japanese Yen BTCtoJPY Euro BTCtoEUR Australian Dollar BTCtoAUD Russian Rouble BTCtoRUB About Bitcoin In August 2008, the domain name bitcoin.org was registered. On 31st October 2008, a paper was published called Bitcoin: A Peer-to-Peer Electronic Cash System. This was authored by Satoshi Nakamoto, the inventor of Bitcoin. To date, no one knows who this person, or people, are. The paper outlined a method of using a P2P network for electronic transactions without relying on trust. On January 3 2009, the Bitcoin network came into existence. Nakamoto mined block number 0 (or the genesis block), which had a reward of 50 Bitcoins. More BTC news and information If you want to find out more information about Bitcoin or cryptocurrencies in general, then use the search box at the top of this page. Heres an article to get you started. As with any investment, it pays to do some homework before you part with your money. The prices of cryptocurrencies are volatile and go up and down quickly. This page is not recommending a particular currency or whether you should invest or not. Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. || Bitcoin Remains Steady Amid Weaker Volume: Bitcoin(BTC) is staying steady, with the 24-hour price remaining in the $8,600-$8,800 range as of 18:00 UTC (1 p.m. EST). Over the past 24 hours, the price rose a mere 0.07 percent.
The surpriseU.S. Federal Reserve rate cutTuesday corresponded with aspike in positive cryptocurrency trading, with a jump of 1,699 trades in one hour on Coinbase. However, bitcoin’s 10-day moving average crossed below the 50-day average at around 12:00 a.m. UTC, falling even though Tuesday’s trading action pushed prices back up into the $8,800 range.
The subsequent holding pattern for bitcoin prices can be attributed to jittery trading sentiment related to coronavirus fears, according to Alex Mashinsky, chief executive of cryptocurrency lender Celsius.
Related:Bitcoin Prints Bullish Price Pattern With Move Above $9K
“Recent volatility in crypto markets has been driven by speculators responding to the virus, liquidating and withdrawing their cash or going long on margin. This group is a small part of the crypto community, but they continue to wield an outsized effect on prices,” said Mashinsky.
The U.S. central bank rate cut, an emergency measure taken because of concerns about the coronavirus possibly slowing the economy, did not initially help the S&P 500 Index. It was down 2.81 percent at Tuesday’s close. It rebounded toward the middle of trading on Wednesday.
Bitcoin has stayed below the $9,000 level sinceit dropped 7 percenton Feb. 26.However, prices remain positive for 2020, up 21 percent compared to the S&P 500’s decline of 5 percent.
Other notable movers in the cryptocurrency markets includedecred(DCR) up 5 percent,bitcoin SV(BSV) in the red 8 percent andethereum classic(ETC), down 7 percent.
• Coronavirus Rate Cuts: Australia’s Central Bank Did It First
• Bitcoin Keeps Recovery Hopes Alive With Defense of Major Average Support
• The Markets Were Already Vulnerable, Then Came Coronavirus || Bitcoin Mining Equipment Company Canaan Sued By Investor Alleging Securities Law Violations: Bitcoin mining equipment companyCanaan Inc.(NASDAQ:CAN) is beingsuedby an investor claiming the company broke U.S. securities laws.
What Happened
Phillippe Lemieux, an investor in Canaan, filed a class-action lawsuit on Wednesday in the United States District Court for The District of Oregon. He alleges the company misled investors regarding its financial health and operations status through its Securities and Exchange Commission (SEC) filing for its initial public offering.
The lawsuit names underwriters China Renaissance Securities, Huatai Financial Holdings, Galaxy Digital, CMB International Capital, Citigroup Global Markets - aCitigroup Inc.(NYSE:C) company, and others.
Additionally, Scott+Scott Attorneys at Law, a national securities and consumer rights litigation firm released a statement to the press on Thursday saying that Hangzhou, China-based Canaan along with other defendants mislead investors regarding a “purported” strategic cooperation with Hangzhou Grandshores Weicheng Technology Co, which is a related party to Canaan.
The law firm further alleges that Canaan hid information regarding the company’s financial health and failed to mention that the company removed “numerous” distributors from its website before its IPO. Moreover, it did not reveal that many of its Chinese clients in the past were not in the Bitcoin mining industry and were, therefore, unlikely to be repeat customers.
Why It Matters
The class-action suit has called for more investors to join in. Investor’s rights law firm Rosen is also continuing its investigation into Canaan.
Canaan went public on Nasdaq in November 2020. The company only managed to raise million on opening after a key underwriter,Credit Suisse Group AG(NYSE: CS), exited the IPO.
Canaan is the world’s second-largest cryptocurrency mining equipment manufacturer and only went public on its third attempt after failing to list on mainland China and Hong Kong in 2018.
Price Action
Canaan shares traded 0.41% higher at $4.85 in the after-hours session on Thursday. The shares had closed the regular session 3.65% lower at $4.83.
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© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Binance Throws Weight Behind Shyft Network in ‘Travel Rule’ Standards Race: Binance, the world’s largest crypto exchange group, has chosen the Shyft Network to help address a looming regulatory requirement that firms must share users’ personal data when handling digital asset transactions.
Barbados-based Shyft Network is one of anarray of potential solutionsto the Financial Action Task Force’s (FATF) “Travel Rule.” The name comes from the stipulation that personally identifiable information musttravelwith a transaction (no mean feat considering crypto transactions are pseudonymous by design.)
“Shyft stands out because they are extremely acute, and very well connected with global regulators,” said Samuel Lim, Binance’s head of compliance. “These things we consider to be very important. Of course, the underlying technology stack is core, too.”
Related:Hong Kong to Consider Additional FATF-Style Regulations for Crypto Exchanges
Getting the public endorsement of Binance is a big deal for the Shyft Network, a SWIFT-like infrastructure incorporating ethereum technology. The firm hired former FATF executive secretaryRick McDonellas an adviser last October.
“We have been working with a lot of the big exchanges for the last nine months,” said Shyft Network co-founder Joseph Weinberg. “Binance is the first to publicly come out, but more will definitely be on the way.”
The FATF, a global anti-money laundering watchdog that sets rules for the G-20 group of countries, willreview progresson addressing the travel rule for virtual asset service providers (VASPs) in June of this year.
But it’s still early days as far as the industry is concerned. Binance said it has been in talks with “a good four or five” candidate solutions. “Shyft is not the only solution we are endorsing but it’s the first that we are putting our brand behind. Things could change in the future but as of now, the focus is on Shyft,” said Lim.
Related:Iranian General Advocates Crypto Use for Skirting Sanctions: Report
There are a number of moving parts when it comes to meeting travel rule requirements, including creating an identity system across a universe of VASPs, the storing and sharing of personally identifiable information (PII) without compromising privacy, and agreeing on a standardized messaging or data transmission system.
Whatever solutions the industry adopts, interoperability between themis a must.
“If a European solution does not fit with an Asian solution, then both of them are wrong,” said Lim.
“Maybe at the start these solutions are trying to differentiate themselves and perhaps there is sort of a competing factor, or competitive advantage. But down the road, when they get big enough, they will not have much of a choice other than to be working with others to satisfy the information transfer and relay requirements,” he said.
The Shyft Network comprises three layers, explained Weinberg. The network itself is a blockchain built from a modified version of the ethereum codebase. A second layer is a smart-contract infrastructure which determines how counterparties are identified and rules about how they share data. The layer on top is where the actual data transmission happens.
Weinberg said the lower layers of the system are interoperable with other travel solution providers, mentioning CipherTrace, an advocate of certificate authorities to identify VASPs; Netki, which favors a decentralized approach; and OpenVASP of Switzerland, which also uses elements of ethereum technology.
“We have been working with OpenVASP on interoperability already,” Weinberg said. “Because the Shyft blockchain is a forked version of ethereum, you can actually deploy all of OpenVASP’s smart contracts fully onto Shyft.”
Some players believe a decentralized blockchain-based approach is needed to solve the travel rule problem in a manner appropriate to crypto companies, while others would prefer to rely on more centralized systems.
Lim of Binance was decidedly agnostic about the choice of tech.
“We are not really concerned if this runs on ERC-20, on Ripple, or on Binance Chain. It doesn’t really matter. We need a cat that catches the mice. That’s the solution for us,” he said.
• Error or Plunder? Report Suggests FCoin Purposely Moved Customer Bitcoin Since 2019
• CoolBitX Raises $16.7M to Make Crypto More Bank-Friendly || Latest Litecoin price and analysis (LTC to USD): Litecoin has continued a period of consolidation around the $60 level of support following its 28% descent to the downside over the past three weeks. Holding above $60 will be key, but continuing to trade above the daily 200 moving average will be more important, with it currently coming in at around $58. A daily candle close below the 200 MA will signal a clear shift in the market, with bearish pressure being triumphant over the optimism that was felt across all cryptocurrencies at the start of this year. It’s worth noting that altcoins like Litecoin are still significantly up on where they were at the turn of the year, with Litecoin having risen from below $40. However, failure to breach the $83 level in February is potentially damming for Litecoin, with bullish momentum seemingly subsiding over the past fortnight. Potential levels of support if Litecoin breaks below $60 are at $54, $50 and $47, while upside targets remain at $64 and $70. Much of Litecoin’s upcoming trajectory will depend on the impact of Bitcoin’s halving event. Block rewards for miners will be slashed from 12.5BTC per block to 6.25BTC, which has historically seen the value of cryptocurrencies rise due to a reduction in supply. For more news, guides and cryptocurrency analysis, click here . Litecoin news Recently, the “Magical Crypto Friends” show – which is available on YouTube and features Litecoin founder Charlie Lee – discussed the Litecoin Summit 2019. The show covered the most important discussions in the community. From Litecoin acting as a store of value to new development updates. Lee confirmed that the project was 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: “We’re working with the Grim++ developers to add an implementation of Mimblewimble. It adds an extension block to the Litecoin main-chain. You can transact between chains to use enhanced privacy.” Story continues 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 is a fork of Bitcoin, with the main difference being a smaller block generation time. The protocol also increased the maximum number of coins and implemented a different script-based algorithm. Litecoin is one of the leading cryptocurrencies and is one of the top 10 cryptocurrencies by market capitalisation. More LTC news and information If you want to find out more information about LTC 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/litecoin-becomes-official-cryptocurrency-of-the-miami-dolphins/ 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 . || CME Bitcoin Futures Daily Trading Volume Hits 2020 Low – That’s a Bullish Sign: Daily trading volume inbitcoin(BTC) futures listed on the Chicago Mercantile Exchange (CME) dropped to year-to-date lows on Friday.
The volume hit $118 million, the lowest level since Dec. 31. On that day futures recorded volume of $112 million, according to Skew Markets.
What’s worth noting is volumes have pulled back sharply from the multi-month highs registered on Feb. 18. CME traded $1.1 billion in volume this past Tuesday. That was the first above-$1 billion daily volume since June 27, 2019.
Related:Above $10K: CME Bitcoin Futures Hit 3.5-Month Highs
Bitcoin CME futures contracts, which went live in December 2017, have recorded above-$1 billion daily volume only three times.
While daily volume collapsed in the last three trading days of the previous week, open interest remained near the seven-month high of $338 million, registered on Feb. 14.
Open interest refers to the number of futures contracts outstanding on an official exchange at any one time, while volume is the number of contracts traded in a given period.
A drop in volume accompanied by an elevated open interest is usually considered a sign of investors holding on to their positions. In such cases, the market usually extends the preceding move; bitcoin’s price rose over 50 percent from lows below $7,000 to $10,500 in the six and a half weeks to Feb. 18.
Related:Open Positions in Bakkt’s Bitcoin Futures Jump to Record Highs
A rally like that is said to have legs since the price gain was backed by an increase in open interest and trading volume. In the first six weeks of the year, daily volumes increased from $176 million to $1.1 billion and open interest rose from $127 million to $338 million.
Bakkt open interest slides
Activity in bitcoin futures listed on Intercontinental Exchange’s Bakkt platform has cooled recently, with open interest plunging from a record high of $19 million down to $10 million in just seven days to Feb. 20.
Meanwhile, daily trading volume (cash-settled plus physically-settled) declined to $18.6 million on Feb. 21, the lowest since Jan. 24. Bakkt futures witnessed a record trading volume of $50.1 million on Dec. 18.
• ICE CEO: New Acquisition Opens Trillion-Dollar Market for Bakkt
• ICE Snaps Up Loyalty Program Provider Bridge2 to Boost Bakkt’s Consumer Play || Opera expands its crypto buying feature for the entire EU and four more countries: Opera’s Andriod browser has expanded its crypto buying feature for all 27 EU countries, as well as four more nations - Australia, New Zealand, Mexico, and Switzerland.
The feature allows users to buy bitcoin (BTC) and ether (ETH) directly from Opera’s in-built crypto wallet using a Visa or Mastercard debit card.
“Expanding this feature to more regions is key to driving blockchain-adoption,” Charles Hamel, head of crypto at Opera browsers, said in a statement shared with The Block on Monday.
Opera has partnered with payments firm Wyre for the initiative.
Just earlier this month, Opera brought its crypto buying feature to theU.S.users. The feature is also available in the three Scandinavian countries - Norway, Sweden, and Denmark.
Opera has today also partnered with Unstoppable Domains, a blockchain naming system built on Ethereum, to allow users to simplify their wallet address with a .crypto domain name. It allows users to more easily send and receive cryptocurrencies in their wallets, said Opera.
The browser-maker has also signed a deal with Protocol Labs, the main firm behind the development of the IPFS (InterPlanetary File System) protocol, to integrate this experience into Opera for Android. This gives users the "ability to access the cloudless, decentralized web of the future through IPFS-protocol support," said Opera. || Bitfinex to further delist 87 trading pairs amid low liquidity: Crypto exchange Bitfinex is set to further delist 87 trading pairs due to low levels of liquidity.
The pairsbeing removedinclude several altcoins paired against both bitcoin (BTC) and ether (ETH), as well as against tether (USDT) and fiat currencies.Some of these pairs include altcoins of notable projects, such as token creation platform Bancor, blockchain-based AI marketplace project SingularityNET and adult industry-oriented blockchain project SpankChain, among others.
Bitfinex said the removal, effective March 26, will help improve liquidity and the trading experience for users.
Bitfinex appears to be on a delisting-spree. Earlier this month, itremoved46 trading pairs, also due to low liquidity.
At the time, Bitfinex CTO Paolo Ardoino told The Block that the exchange decided to delist pairs because many projects born in the 2017 initial coin offering (ICO) boom have now “lost traction.”
While Bitfinex currently does not have a hard cap for the number of pairs it hopes to support, it wants to concentrate all liquidity of a given project into a single pair, typically the USD pair, Ardoino told The Block at the time.
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: no change || Prices: 6791.13, 7271.78, 7176.41, 7334.10, 7302.09, 6865.49, 6859.08, 6971.09, 6845.04, 6842.43
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Bitcoin'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 demonetization 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) || Endurance Specialty Unveils New Cyber Extortion Coverage: Endurance Specialty Holdings Ltd. ENH recently launched a new service that will help policyholders to better respond to cases of cyber ransom and extortion. The newly introduced service as it will be substantially value additive to the insurers innovative products and services portfolio. The property and casualty (P&C) insurer is optimistic about the service, which should boost its cyber response capabilities. Notably, Mullen Coughlin LLC, a leading incident response services provider and also the Endurance Specialtys Breach Assist Counsel, has been helping the insurers clients in dealing with cyber breach or other data security incident. This apart, computer forensic company Kivu Consulting, which has already been offering computer forensic investigation services, will now provide extortion response services. Both these companies have efficient and expert teams and specialize in providing guidance to ransomware victims to help them better respond to malicious attacks, including arranging for payment in Bitcoin or other cryptocurrency. Moreover, the teams analyze and test decryption keys to ensure security of the clients network. Shares of Endurance Specialty gained 38.43% in the last six months, significantly outperforming the Property and Casualty industrys growth of 9.19%. The new service will help policyholders to avoid disruption in their business operations and cement shareholders' confidence on the stock, leading to further share price movement. We note that strategic initiatives like these have improved the Zacks Rank #3 (Hold) P&C insurers organic portfolio as well as accelerated growth. Stocks to Consider Some better-ranked stocks from the same space include Aspen Insurance Holdings Limited AHL, Cincinnati Financial Corporation CINF and Mercury General Corporation MCY. Each of these stocks sports a Zacks Rank #1 (Strong Buy). You can see the complete list of todays Zacks #1 (Strong Buy) Rank stocks here . Story continues Aspen Insurance Holdings deals in insurance and reinsurance businesses worldwide. The company delivered positive surprise in one of the last four quarters, but with an average miss of 15.48%. Cincinnati Financial engages in the P&C insurance business in the United States. The company delivered positive surprises in all of the last four quarters with an average beat of 11.82%. Mercury General deals in writing personal automobile insurance in the United States. The company delivered positive surprises in two of the last four quarters, but with an average miss of 21.04%. Zacks' Top 10 Stocks for 2017 In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2017? Who wouldn't? As of early December, the 2016 Top 10 produced 5 double-digit winners including oil and natural gas giant Pioneer Natural Resources which racked up a stellar +50% gain. The new list is painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. Be among the very first to see it>> 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 Cincinnati Financial Corp. (CINF): Free Stock Analysis Report Endurance Specialty Holdings Ltd. (ENH): Free Stock Analysis Report Mercury General Corp. (MCY): Free Stock Analysis Report Aspen Insurance Holdings Ltd. (AHL): Free Stock Analysis Report To read this article on Zacks.com click here. || One country dominates the global bitcoin market: Almost all bitcoin trading is done in China. The share of the cryptocurrency that's traded via China's mainland currency escalated over the past few years, overtaking the US dollar as the dominant currency. From less than a 10% share in January 2012, the yuan now makes up nearly 100% of all bitcoin trading. Bitcoin surged 120% last year, outperforming every other currency in the world. It kicked off 2017 by rising above $1,000 for the first time since 2013. Those moves were made possible largely because of China . Volumes of bitcoin trading increased as China's foreign reserves shrank, by about 8% to $3.05 trillion in 2016. Meanwhile, the yuan weakened against the dollar, hastening the rush of money out of the country and increasing interest in bitcoin. Last week, the cryptocurrency came under pressure after China announced it was investigating exchanges in Beijing and Shanghai on suspicion of market manipulation, money laundering, and other issues. As of 8:34 a.m. ET on Wednesday, bitcoin traded down 4.8%, or $43, near $862 per coin. It jumped above $915 late Tuesday night but struggled to take out resistance in the $880/$920 area. This chart shared by Deutsche Bank shows the staggering rise of China as the dominant trader of bitcoin. bitcoin countries COTD (Deutsche Bank) More From Business Insider Bitcoin is charging higher China's economy is at the mercy of a force completely beyond its control Bitcoin is getting demolished || 10 things you need to know before the opening bell: Breathing fire (A Houthi militant displays his skills during a parade held by newly recruited Houthi fighters before heading to the frontline to fight against government forces, in Sanaa, Yemen.Reuters/Khaled Abdullah) Here is what you need to know. Friday is jobs day in America . The US economy is expected to have added 170,000 nonfarm jobs as the unemployment rate ticked up to 7.4%, according to a survey of economists by Bloomberg. Additionally, average hourly earnings are anticipated to have climbed 2.8% year-over-year. The data will cross the wires at 8:30 a.m. ET. A new king of auto sales has been throned in China . Honda saw sales surge 24 percent YoY to 1.25 million vehicles in 2016, surpassing rival Toyota as the number one automaker in China, Reuters says. Australia's first recession in 25 years could be on hold . The country recorded a surprise trade surplus in November, the first since March 2014, and if repeated in December it is expected to add enough to fourth quarter growth to prevent the first recession since 1991. The Australian dollar is little changed at .7341 against the dollar. A second Scottish referendum isn't happening . Prime minister Nicola Sturgeon has abandoned her plans to hold a second referendum to keep Scotland in the European Union, saying that she has accepted "reality." The British pound is down 0.3% at 1.2364 versus the dollar. Bitcoin is crashing again . The cryptocurrency crashed as much as 23% on Thursday, touching a low of $888.99 per coin before finishing the day near $968. Selling has picked back up on Friday with bitcoin lower by 13.5% at $886. Frontier Airlines is planning to go public . The low-cost carrier has hired Deutsche Bank, JPMorgan, and Evercore to help with its initial public offering, the New York Times says. There's finally some good news from the retail sector . Gap announced sales at stores that have been open at least one year rose by 4% versus a year ago, compared to the 1.7% drop that analysts were anticipating, and raised its full-year profit forecast. Shares traded higher by as much as 10% in Thursday's after hours session. Story continues US mall vacancies were flat in the fourth quarter . Vacancies held at 7.8%, Reuters reports, citing data compiled by Reis. Stock markets around the world are mostly lower . China's Shanghai Composite (-0.4%) lagged in Asia and France's CAC (-0.5%) trails in Europe. The S&P 500 is on track to open higher by 0.2% near 2,268. US economic data is heavy. Aside from the jobs report, the trade balance will be released at 8:30 a.m. ET and both factory orders and durable goods orders will cross the wires at 10 a.m. ET. The Baker Hughes rig count will be announced at 1 p.m. ET. The US 10-year yield is up 1 basis point at 2.35%. More From Business Insider Former CIA director James Woolsey has split with Trump, 'effective immediately' Learning Excel isn't just for finance professionals — here's how it can boost anyone's productivity at work Here's a super-quick guide to what traders are talking about right now || Hyperledger Wraps up 2016 By Welcoming Eight New Members: SAN FRANCISCO, CA --(Marketwired - December 28, 2016) - Hyperledger Project , a collaborative cross-industry effort created to advance blockchain technology, announced today that eight new members have joined the project to help create an open standard for distributed ledgers for a new generation of transactional applications. Last month, Hyperledger announced it reached 100 active members in less than one year, a huge milestone for the open source project, hosted by The Linux Foundation. "This year has been full of growth for the project," said Brian Behlendorf, Executive Director, Hyperledger. "Not only did we exceed 100 members, Hyperledger met significant development milestones thanks to the community's hard work. As 2016 was a year of exploration, R&D and prototyping, we're excited for 2017 to be the year we start to see case studies of the technology in production environments." Hyperledger aims to enable organizations to build robust, industry-specific applications, platforms and hardware systems to support their individual business transactions by creating an enterprise grade, open source distributed ledger framework and code base. The latest members include: CA Technologies, Factom Foundation, Hashed Health, Koscom, LedgerDomain, Lykke, Sovrin Foundation and Swisscom. New Member Quotes: CA Technologies "To compete today, every company needs to foster innovation that delivers real business value. Blockchain has the potential to disrupt the way many of CA's customers do business," said Otto Berkes, chief technology officer, CA Technologies. "We're honored to be a part of Hyperledger and look forward to collaborating with other members to help shape open standards for blockchain. It's an exciting time for this because blockchain is not just about Bitcoin anymore, and the range of potential applications with it is vast for of our customers. This partnership will help us influence what that future looks like for both CA and our customers as they embark on their digital transformation journey." Story continues Factom Foundation "We are honored to have been selected to join the Hyperledger Project," said Paul Snow, Founder, Factom Foundation. "We are looking forward to helping build the open source framework for securing data and systems with our blockchain solution." Hashed Health "Hashed Health is a healthcare technology innovation company focused on accelerating the commercialization of meaningful new blockchain and distributed ledger-based technologies," said John Bass, Hashed Health CEO. "Hashed is proud to be a member of the Hyperledger Project, sharing its commitment to creating the foundation for scalable, reliable blockchain solutions." Koscom "We consider blockchain technology as the next generation infrastructure in the Korean capital market. As an industry leader with 40 years' experience in the financial IT field, we are looking to leverage this industry disruptive technology," said Chung Youn Dae, CEO, Koscom. "We will constantly explore the ways to contribute to the blockchain ecosystem, as we collaborate with the Hyperledger community. We also hope to better serve out customers in a more secure and efficient way by integrating blockchain technology and our own Fintech platform." LedgerDomain "LedgerDomain delivers next generation supply chain solutions, harnessing permissioned blockchains to assure supply chain integrity and finished product authenticity through to the consumer for the benefit of all. This highly transparent, trustworthy approach is built upon an industrial-strength Hyperledger Fabric backbone," said Dr. Victor Dods, LedgerDomain. "We're proud to be a part of Hyperledger and its growing community." Lykke "We're looking forward to being part of the Hyperledger project," said Richard Olsen, Lykke founder and CEO. "Our company is building a digital asset exchange. Right now, we're implemented on the Bitcoin blockchain settlement layer, with Ethereum to come within the next few months, but our involvement with Hyperledger isn't just the next step forward. Providing decentralized settlement on the Hyperledger blockchain with multisignature wallets and atomic swap transactions will benefit both of our user communities." Swisscom "We are very proud to be Switzerland's first connection to Hyperledger," said Johannes Höhener, VP, Swisscom's Fintech Cluster. "We look forward to working with a highly professional community on cutting-edge blockchain developments. Our membership and participation will shape our capabilities to develop blockchain solutions -- for our clients and Switzerland." The success of Hyperledger is due to the support of the developer community and member companies. Learn how your organization can contribute to the project here: https://www.hyperledger.org/about/join About Hyperledger The Hyperledger project is an open source collaborative effort created to advance cross-industry blockchain technologies. It is a global collaboration including leaders in finance, banking, Internet of Things, supply chains, manufacturing and Technology. The Linux Foundation hosts Hyperledger as a Collaborative Project under the foundation. To learn more, visit: www.hyperledger.org || Bitcoin slides as China's central bank launches checks on exchanges: By John Ruwitch and Jemima Kelly SHANGHAI/LONDON (Reuters) - China's central bank launched spot checks on leading bitcoin exchanges in Beijing and Shanghai, ratcheting up pressure on potential capital outflows and knocking the price of the cryptocurrency down more than 12 percent against the dollar. The People's Bank of China (PBOC) said its probe of bitcoin exchanges BTCC, Huobi and OKCoin was to look into a range of possible rule violations, including market manipulation, money laundering and unauthorized financing. It did not say if any violations had been found. Chinese authorities have stepped up efforts to stem capital outflows and relieve pressure on the yuan. While the yuan lost more than 6.5 percent against the dollar last year, its worst performance since 1994, the bitcoin price has soared to near-record highs. That, and the relative anonymity the digital currency affords, has prompted some to believe bitcoin has become an attractive option for tech-savvy Chinese to hedge against the yuan and skirt around rules limiting how much foreign exchange individuals can buy each year. The PBOC in Beijing, where officers visited the offices of OKCoin and Huobi on Wednesday, said in a statement that "spot checks were focused on how the exchanges implement policies including forex management and anti-money laundering". Separately in Shanghai, the PBOC said it visited BTCC, noting its checks "focused on whether the firm was operating out of its business scope, whether it was launching unauthorized financing, payment, forex business or other related businesses, whether it was involved in market manipulation, anti-money laundering or (carried) fund security risks." On the Europe-based Bitstamp exchange, the price of bitcoin (BTC=BTSP) fell as much as 12.5 percent to a 3-week low of $800. On China's Huobi exchange, the price slid more than 16 percent to 5,313 yuan (CNY=CFXS), equivalent to around $766, putting the yuan/bitcoin rate at a discount to the rate on dollar-based exchanges. Story continues Normally, bitcoin trades at a premium in China, with a lack of trading fees encouraging volumes and boosting demand. "Selling is being driven by China. The fear is that ... this investigation could lead to, worse-case scenario, funds being withheld from them (Chinese investors) or one of the exchanges being found to have acted improperly," said Charles Hayter, CEO of digital currency analytics firm Cryptocompare. "This is a ratcheting up of the rhetoric from the Chinese authorities - instead of 'we're watching' you, it's now 'we're investigating' you," he said. According to his analysis, Hayter says trading between the yuan and bitcoin accounted for around 98 percent of the total market in the past six months. "The long term implications of this are positive as more rigor in the Chinese market only matures and brings respectability to the industry - but in the short term this could effect volumes which have been one of the key drivers of the recent rally," Hayter added. "FRUITFUL MEETING" Bobby Lee, CEO of Shanghai-based BTCC, confirmed the PBOC visit, but said he believed the company was not out of line. "We're definitely vigilant. We think we are in compliance with all the current rules and regulations of running a bitcoin exchange in China," he told Reuters by phone. "I wouldn't call it an investigation. I think they are working closely with us to learn more about our business model and the bitcoin exchange industry. We had a very fruitful meeting today," Lee said. A Huobi executive, who declined to be named, confirmed the PBOC visited its office on Wednesday, but declined to provide details. A spokeswoman for OKCoin told Reuters its platform was operating normally, and the exchange was working with the authorities. Last week, PBOC officials met with the three exchanges, and the central bank publicly urged investors to take a rational and cautious approach to investing in bitcoin. (Additional reporting by Winni Zhou, Brenda Goh and Samuel Shen; Editing by Ian Geoghegan) || Bitcoin is having trouble getting through $900: Bitcoin holds little changed near $891 a coin as of 7:02 a.m. ET. The cryptocurrency is contending with resistance in the $900 area for the third straight session. Bitcoin raced to more than $916 on Tuesday but was unable to break out above the early-January resistance level.
Bitcoin has gotten off to a wild start in 2017. Buying in the opening days of the year lifted its price more than 20% and above $1,000 for the first time since November 2013. However, rumblings about a crackdown on trading in China have caused jitters as of late. Beijingannouncedit had beguninvestigating bitcoin exchangesin Beijing and Shanghai on suspicion of market manipulation, money laundering, unauthorized financing, and other issues.The price crashed 35% to nearly $750 before finding support and working its way back up to resistance in the $900 area.
Thursday's action has to alleviate some concerns regarding the trading environment in China as Beijing announced it wastightening capital controls even further. While the rules were aimed atoutbound investments by centrally-controlled state firms, it is still notable thatbitcoin has so far been spared. In a note to clients on Wednesday, Deutsche Bank's Torsten Sløk showed howChina dominates the global bitcoin market, accounting for nearly 100% of the trading.
(Investing.com)
NOW WATCH:Here's how to use one of the many apps to buy and trade bitcoin
More From Business Insider
• Bitcoin is soaring
• Bitcoin is making a comeback
• Bitcoin is charging higher || 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 || 2016: The Volatility Year That Wasn’t: Sometimes how we feel about the market bears absolutely no resemblance to reality. When I look back at 2016, I’m exhausted. And when I talk to many advisors, I hear similar comments: “What a year!” they say. “We had such an awful winter, and then all the craziness around the election!” But the reality is that this was actually one of the most placid years in recent history. Here’s the actual, 30-day realized volatility of the S&P 500 for the last 10 years: What this excellent chart from Bloomberg suggests is that our current market is in one of the lowest volatility periods we’ve seen in ages, and while we’ve had some spikes, particularly in the spring, it’s just about as boring a market as you can get. Of course, you can’t actually trade this chart; instead, what you can trade, sort of, is the CBOE Volatility Index, or VIX—a derivative calculation based on the implied volatility of strips of S&P 500 options. Here’s what the VIX chart looks like over the past 10 years: Even the quickest glance suggests these are pretty good proxies for each other, and while they’re not identical, they even “base” around the same number: 10 for low-vol periods, 80 for crazy spikes. And using options is actually sensible, because for a sophisticated investor, making a specific bet on volatility would most easily be done with options. You want to bet the S&P 500 is going to spike in either direction? Options players have a plan for you— a straddle . Think we’re range-bound and want to bet on it? The wonderfully named Iron Condor is for you. Managing volatility is in fact what options are designed to do, so that’s why the CBOE uses the real-world expressions of sentiment from options traders to compute the VIX. The Contango Conundrum Like options themselves, there’s nothing inherently bullish or bearish about the VIX itself. Using either options or futures contracts on the VIX index, investors can bet on either increasing or decreasing volatility. Story continues The problem is that in a low-volatility environment like we’ve been in, most investors are going to guess that future volatility will be higher than today’s volatility, and thus they will bid up the price of the futures contracts themselves. A lot. Here’s what the futures curve looks like right now for the VIX: With VIX at 12, buying the front-month futures contract will cost you 14. To put that in perspective, that means that, if VIX remains at 12, you can expect to lose $2 for every $14 invested in a single month. That $2-a-month decay continues from the first to the second month as well. That means even if you’re right, and VIX is going to rise, you’re facing a 14.2% head wind every month . That’s a 396% head wind every year. Of course, the contango isn’t always this bad, but it’s generally been sharply upward-sloping all year long. If you think that means investing in a long VIX-futures-based ETF for the last year has been tough, you’re right. The top three worst-performing ETFs over the last year all track near-month VIX futures contracts: the iPath S&P 500 VIX Short-Term Futures ETN (VXX) , the VelocityShares Daily Long VIX Short-Term ETN (VIIX) and the ProShares VIX Short-Term Futures ETF (VIXY) . ‘Force Of Nature’ For Investors The reason you can’t see three ETF lines on the chart is because these funds are, for all intents and purposes, identical in their returns. The problem is contango: It’s a force of nature, and there’s no getting around it as a futures investor. While this isn’t a pretty chart, it’s worth noting that these funds have done exactly what they said they were going to do day after day. If you went into the month of June with a position in one of these funds, you were up over 25% in a matter of days as you caught the pre-Brexit spike in volatility. But remember, the VIX was never intended as some sort of “long only” asset to invest in—it’s a measurement of the state of the market, just like humidity is a measurement of the state of the atmosphere. Investors can, and do, capitalize on it in other ways, either by shorting funds like this to capture contango, or investing in the suite of inverse products, such as the VelocityShares Daily Inverse VIX Short-Term ETN (XIV) or the ProShares Short VIX Short-Term Futures ETF (SVXY) , that take the opposite bets: Again, two strategies following the same basic strategy—taking the “sell” side of the VIX futures trade. These funds not only profit from contango, they’ve also benefited from relatively calm fluctuations in the VIX itself, which means the daily-rebalance effect common to most leveraged and inverse funds hasn’t cut into returns. Of course, just like June was a great time to be in the long ETFs, it was murderous for these funds: If you got the timing wrong, you could have been down more than 35% in a matter of days when volatility spiked. What’s In An (Inverse) Name? Honestly, at ETF.com, we can end up trapped a bit by our own analytical framework. As a matter of course, we exclude leveraged and inverse funds from things like performance charts, because otherwise, every list would be nothing but the most levered version of whatever theme was hot (or awful) at the time. But in the case of VIX, that leads to some missed opportunities for analysis. A long bet on the VIX is no different than a short bet on the VIX in theoretical terms. VIX is mean-reverting by definition, unlike any other investment I can think of in finance. So to my mind, this bizarre year, or relatively calm markets but high anxiety, has made VIX ETFs both the worst and nearly the-best-performing products in the market. At the time of writing, the author held no positions in the securities mentioned. Contact Dave Nadig at [email protected] . Recommended Stories Tuesday Hot Reads: 2 Trends That Favor ETFs In 2017 2016: The Volatility Year That Wasn’t Worst Performing ETFs Of The Year Friday Hot Reads: 2016 A Vintage Year For Bitcoin Wednesday Hot Reads: JPMorgan Readies Fixed Income ETF Arsenal Permalink | © Copyright 2016 ETF.com. All rights reserved || 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)
[Random Sample of Social Media Buzz (last 60 days)]
MMMBTC || MMMBTC || Which bitcoin wallet app for android should i get? http://ift.tt/2hHZvt0 #reddit #bitcoin || Free game and free bitcoin
17DXTRuxEo4fzA6H1kHEt4izMneNEQVx5M || #Bitcoin last trade
@bitfinex $964.00
@btcecom $942.00
Set #crypto #price #alerts at http://AlertCo.in || http://www.coindesk.com/price/ Bitcoin 1 month summary ($764.00 to $1,028.00) || MMMBTC || http://ift.tt/2gSxFYL Freewallet Users Can Now Buy Bitcoin, Ethereum and More with Credit Cards - Finance Magnates #ethereum #ether || $931.02 at 22:45 UTC [24h Range: $891.00 - $936.42 Volume: 7134 BTC] || MMMBTC
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Trend: up || Prices: 924.67, 921.01, 892.69, 901.54, 917.59, 919.75, 921.59, 919.50, 920.38, 970.40
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
The Nasdaq is on pace to do something it hasn’t since 1996: The Nasdaq composite (NASDAQ: .IXIC) is on pace for a record-setting month. The technology-dominated index has closed positive in 15 of the 18 trading days so far this month; if that pace continues, May would mark the Nasdaq's winningest month since September 1996, according to Bespoke Investment Group. The index, which hit a new all-time high in early Thursday trading, has advanced more than 2 percent so far this month and more than 15 percent so far this year. By contrast, in September 1996, the Nasdaq rose by 7.5 percent. More from CNBC: The top is in for stocks, but here's how you can still make money: Wells Fargo strategist Hot Stock that's tripled in the past year has analysts throwing up their hands These signals will tell you that stocks are heading higher The recent collection of positive days is flashing a sort of contrarian signal, said Boris Schlossberg, managing director of foreign exchange strategy at BK Asset Management. While he would not bet against the index, he suggested trimming one's holdings at these levels. "Typically, when you have that kind of concentration of positive days, mean reversion is about to kick in. So I think it could be a situation where 'sell in May' could be the best prescription for the Nasdaq," he said Wednesday on CNBC's " Trading Nation ." "Come out at of top and come back in September, November, when things re-rally," Schlosberg said. Of course, 1996 was the year then-Federal Reserve Chairman Alan Greenspan wondered about "irrational exuberance" and whether stocks were reaching unsustainable heights. That was before the tech bubble got blown to a staggering level, which was of course followed by a massive crash. This period looks significantly different, according to the strategist. "There's no doubt that, fundamentally, all the tech companies have certainly come to the forefront. They are now the dominant companies in American industry — but that story has been really well told. I think profit-taking is due here, and I would be very cautious at trying to get long here at these levels," Schlossberg said. Story continues Indeed, the S&P 500 information technology sector is the index's best-performing; tech giants Apple (NASDAQ: AAPL) , Microsoft (NASDAQ: MSFT) , Amazon (NASDAQ: AMZN) and Facebook (NASDAQ: FB) have contributed most of the market's gains this year. On a technical basis, the index appears quite strong, said Craig Johnson, chief market technician at Piper Jaffray. "The trend, by all definition, is our friend at this point in time. And we don't have any indication of a trend change happening here," he said Wednesday on "Trading Nation." "I'm not going to fight the earnings trend of the market. We are finally seeing a lot of these names inside of the tech sector doing well." Some of the tech stocks also remain supported from a fundamental perspective, Johnson added. More From CNBC The next move for stocks is likely lower, according to the options market What is short selling? Bitcoin bonanza, Dollar Tree earnings: Here's what could drive markets Thursday || Cable & Wireless Reports Preliminary Q1 2017 Results: MIAMI, FL--(Marketwired - May 8, 2017) - Cable & Wireless Communications Limited ("CWC") is the leading telecommunications operator in substantially all its consumer markets, which are predominantly located in the Caribbean and Latin America, providing entertainment, information and communication services to 3.6 million mobile, 0.4 million television, 0.6 million internet and 0.8 million fixed-line telephony subscribers. In addition, CWC delivers B2B services and provides wholesale services over its sub-sea and terrestrial networks that connect over 30 markets across the region. Liberty Global's Acquisition of CWC On May 16, 2016, a subsidiary of Liberty Global plc ("Liberty Global") acquired CWC (the "Liberty Global Transaction"). Revenue, Adjusted Segment EBITDA 3 and subscriber statistics have been presented herein using Liberty Global's definitions for all periods presented unless otherwise noted. Further adjustments to these metrics are possible as the integration process continues. The results for the three months ended March 31, 2017 have also been aligned to Liberty Global's IASB-IFRS 1 accounting policies and estimates. Significant policy adjustments have been considered in our calculation of rebased growth rates for revenue and Adjusted Segment EBITDA. For additional information on Liberty Global's definition of Adjusted Segment EBITDA and rebased growth rates, see footnotes 1 and 4, respectively. A reconciliation of net earnings (loss) to Adjusted Segment EBITDA is included in the Financial Results, Adjusted Segment EBITDA Reconciliation & Property, Equipment and Intangible Asset Additions 5 section below. In addition, effective for the 2016 fiscal year, CWC changed its fiscal year end from March 31 to December 31 to conform with Liberty Global. Operating highlights: Delivered Q1 Organic RGU 6 additions of 10,000 Internet 7 and fixed-line telephony 8 subscribers were up 7,000 and 3,000, respectively, on an organic basis, as we increased penetration across our high-speed networks with bundling success in Jamaica, Panama and Trinidad Video subscribers were flat as losses in Jamaica and Trinidad were offset by gains in Panama and the Bahamas At March 31, 2017, we had a bundling ratio of 1.54 RGUs per customer, as 11% of our customers 9 subscribed to triple-play, 32% subscribed to double-play and 57% to a single product. Our high single-play penetration provides potential for continued bundling success Mobile subscribers 10 increased by 27,000 on an organic basis, driven by prepaid additions in Panama Highlights across our largest markets were as follows: In Panama, we continued to build momentum through a revitalized go-to-market approach, adding 8,000 RGUs in the quarter. Of note, we added 2,000 internet and 2,000 cable video RGUs in Q1, as our bundled offers gained traction through network investments enabling faster speeds of up to 300 Mbps. We also continued to grow our DTH 11 base, adding 3,000 RGUs in Q1 as we targeted more rural areas where we do not provide video through our hybrid fiber coaxial ("HFC") network. Our prepaid mobile base grew by 49,000 subscribers in the quarter as we launched data-led promotions and benefited from the seasonal Carnival uplift In Jamaica we added 2,000 internet and 3,000 fixed-line telephony RGUs, however these were offset by a 5,000 video RGU decline. On the mobile front, we lost 10,000 subscribers in Q1, due to prepaid churn following increased promotional activity in the prior quarter In the Bahamas, we added 2,000 RGUs in Q1 with momentum steadily building as we increased penetration of our newly constructed Fiber-to-the-Home (FTTH) network. The entry of our first mobile competitor in November 2016 had an impact on our base, as we lost 6,000 mobile subscribers, both prepaid and postpaid, in the quarter Barbados RGUs declined by 2,000 in total, primarily resulting from a decline in our fixed-line telephony subscribers. We saw stability across video and internet RGUs as we improved service quality across our fixed network, which was a significant improvement compared to an aggregate loss of 5,000 RGUs in the prior quarter across these two products. On the mobile front, we lost 3,000 subscribers from churn following the heavy promotional activity during the December holiday period Trinidad RGU additions were broadly flat, as a 3,000 video subscriber decline resulting from continued competitive intensity was offset by growth in fixed-line telephony through bundling promotions Story continues Footnotes * The financial figures contained in this release are prepared in accordance with IASB-IFRS 1 . CWC's financial condition and results of operations will be included in Liberty Global's consolidated financial statements under U.S. GAAP 2 . There are significant differences between the U.S. GAAP and IASB-IFRS presentations of our consolidated financial statements. 1 International Financial Reporting Standards, as promulgated by the International Accounting Standards Board (IASB), are referred to as IASBIFRS. 2 Accounting principles generally accepted in the United States are referred to as U.S. GAAP. 3 Adjusted Segment EBITDA is the primary measure used by our management to evaluate the company's performance. Adjusted Segment EBITDA is also a key factor that is used by our internal decision makers to evaluate the effectiveness of our management for purposes of annual and other incentive compensation plans. We define EBITDA as earnings before net finance expense, income taxes and depreciation and amortization. As we use the term, Adjusted Segment EBITDA is defined as EBITDA before share-based compensation, provisions and provision releases related to significant litigation, impairment, restructuring and other operating items and related-party fees and allocations. Other operating items include (i) gains and losses on the disposition of long-lived assets, (ii) third-party costs directly associated with successful and unsuccessful acquisitions and dispositions, including legal, advisory and due diligence fees, as applicable, and (iii) other acquisition-related items, such as gains and losses on the settlement of contingent consideration. Our internal decision makers believe Adjusted Segment EBITDA is a meaningful measure because it represents a transparent view of our recurring operating performance that is unaffected by our capital structure and allows management to readily view operating trends and identify strategies to improve operating performance. We believe our Adjusted Segment EBITDA measure is useful to investors because it is one of the bases for comparing our performance with the performance of other companies in the same or similar industries, although our measure may not be directly comparable to similar measures used by other companies. Adjusted Segment EBITDA should be viewed as a measure of operating performance that is a supplement to, and not a substitute for EBIT, net earnings (loss), cash flow from operating activities and other EU-IFRS or IASB-IFRS measures of income or cash flows. A reconciliation of Adjusted Segment EBITDA to net loss is presented in the Unitymedia section of this release. 4 For purposes of calculating rebased growth rates on a comparable basis for the CWC borrowing group, we have adjusted the historical revenue and Adjusted Segment EBITDA for the three months ended March 31, 2016 to reflect the impacts of the alignment to Liberty Global's accounting policies and to reflect the translation of our rebased amounts for the three months ended March 31, 2017 at the applicable average foreign currency exchange rates that were used to translate CWC's results for the three months ended March 31, 2016. The most significant adjustments to conform to Liberty Global's policies relate to the capitalization of certain installation activities that previously were expensed, the reflection of certain lease arrangements as capital leases that previously were accounted for as operating leases and the reflection of certain time-based licenses as operating expenses that previously were capitalized. We have not adjusted the three months ended March 31, 2016 to eliminate nonrecurring items or to give retroactive effect to any changes in estimates that have been implemented in the three months ended March 31, 2017. The adjustments reflected in our rebased amounts have not been prepared with a view towards complying with Article 11 of Regulation S-X. In addition, the rebased growth rates are not necessarily indicative of the rebased revenue and Adjusted Segment EBITDA that would have occurred if the acquisition of CWC had occurred on the date assumed for purposes of calculating our rebased amounts or the revenue and Adjusted Segment EBITDA that will occur in the future. The rebased growth percentages have been presented as a basis for assessing growth rates on a comparable basis, and are not presented as a measure of our pro forma financial performance. 5 Property, equipment and intangible asset additions include capital expenditures on an accrual basis, amounts financed under vendor financing or capital lease arrangements and other non-cash additions. 6 RGU is separately a Basic Video Subscriber, Enhanced Video Subscriber, DTH Subscriber, Internet Subscriber or Telephony Subscriber (each as defined and described below). A home, residential multiple dwelling unit, or commercial unit may contain one or more RGUs. For example, if a residential customer in our Austrian market subscribed to our enhanced video service, fixed-line telephony service and broadband internet service, the customer would constitute three RGUs. Total RGUs is the sum of Basic Video, Enhanced Video, DTH, Internet and Telephony Subscribers. RGUs generally are counted on a unique premises basis such that a given premises does not count as more than one RGU for any given service. On the other hand, if an individual receives one of our services in two premises (e.g. a primary home and a vacation home), that individual will count as two RGUs for that service. Each bundled cable, internet or telephony service is counted as a separate RGU regardless of the nature of any bundling discount or promotion. Non-paying subscribers are counted as subscribers during their free promotional service period. Some of these subscribers may choose to disconnect after their free service period. Services offered without charge on a longterm basis (e.g., VIP subscribers, free service to employees) generally are not counted as RGUs. We do not include subscriptions to mobile services in our externally reported RGU counts. In this regard, our March 31, 2017 RGU counts exclude our separately reported postpaid and prepaid mobile subscribers. 7 Internet Subscriber is a home, residential multiple dwelling unit or commercial unit that receives internet services over our networks, or that we service through a partner network. 8 Telephony Subscriber is a home, residential multiple dwelling unit or commercial unit that receives voice services over our networks, or that we service through a partner network. Telephony Subscribers exclude mobile telephony subscribers. 9 Customer Relationships are the number of customers who receive at least one of our video, internet or telephony services that we count as Revenue Generating Units ("RGUs"), without regard to which or to how many services they subscribe. To the extent that RGU counts include equivalent billing unit ("EBU") adjustments, we reflect corresponding adjustments to our Customer Relationship counts. For further information regarding our EBU calculation, see Additional General Notes below. Customer Relationships generally are counted on a unique premises basis. Accordingly, if an individual receives our services in two premises (e.g., a primary home and a vacation home), that individual generally will count as two Customer Relationships. We exclude mobile-only customers from Customer Relationships. 10 Our mobile subscriber count represents the number of active subscriber identification module ("SIM") cards in service rather than services provided. For example, if a mobile subscriber has both a data and voice plan on a smartphone this would equate to one mobile subscriber. Alternatively, a subscriber who has a voice and data plan for a mobile handset and a data plan for a laptop (via a dongle) would be counted as two mobile subscribers. Customers who do not pay a recurring monthly fee are excluded from our mobile telephony subscriber counts after periods of inactivity ranging from 30 to 90 days, based on industry standards within the respective country. 11 DTH Subscriber is a home, residential multiple dwelling unit or commercial unit that receives our video programming broadcast directly via a geosynchronous satellite. About C&W Communications C&W is a full service communications and entertainment provider and delivers market-leading video, broadband, telephony and mobile services to consumers in 18 countries. Through its business division, C&W provides data center hosting, domestic and international managed network services, and customized IT service solutions, utilizing cloud technology to serve business and government customers. C&W also operates a state-of-the-art submarine fiber network -- the most extensive in the region. Learn more at www.cwc.com , or follow C&W on LinkedIn , Facebook or Twitter . About Liberty Global Liberty Global is the world's largest international TV and broadband company, with operations in more than 30 countries across Europe, Latin America and the Caribbean. We invest in the infrastructure that empowers our customers to make the most of the digital revolution. Our scale and commitment to innovation enable us to develop market-leading products delivered through next-generation networks that connect our 25 million customers who subscribe to over 50 million television, broadband internet and telephony services. We also serve over 10 million mobile subscribers and offer WiFi service across 6 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 11 European countries under the consumer brands Virgin Media, Unitymedia, Telenet and UPC. The Liberty Global Group also owns 50% of VodafoneZiggo, a Dutch joint venture, which has 4 million customers, 10 million fixed-line subscribers and 5 million mobile subscribers. The LiLAC Group operates in over 20 countries in Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Más Móvil and BTC. In addition, the LiLAC Group operates a sub-sea fiber network throughout the region in over 30 markets. For more information, please visit www.libertyglobal.com View comments || Bitcoin Unlimited Futures Used to Extinguish Debt of Leading Bitcoin Public Company: VANCOUVER, BC / ACCESSWIRE / April 6, 2017 /First Bitcoin Capital Corp (OTC PINK: BITCF), in a related party transaction paid off approximately $200,000 in debt utilizing Bitcoin Unlimited Futures, making the Company 100% debt free.
Bitcoin Unlimited Futures is one of the latest cryptographic creations of the company and rides on the rails of the Bitcoin Blockchain. Released by the Company as a means of allowing speculators to predict the outcome of the forthcoming hard fork of Bitcoin Core into two distinct assets, Bitcoin Unlimited Futures trades under the symbols XBU on the decentralized OMNIDEX and the Company's subsidiary, COINQX.com as well as XB on the CCEX.com exchanges.
XBU or XB is not to be confused with competing efforts to presale actual Bitcoin Unlimited (BTU) prior to the hard fork, whereas in the case of XBU/XB our coin will not become BTU, instead, it will trade independently as a third currency. There is no relation of XBU or XB to the actual Bitcoin other than that it was created on and moves along the rails of the Bitcoin Blockchain using the Omni Layer Protocols.
BTU is trading at about half of the trading value of XBU/XB. Efforts by two competing exchanges to capitalize on the pending hard fork can be found here:http://coinmarketcap.com/currencies/bitcoin-unlimited/
Due to the ephemeral nature of XBU/XB, the Company's creditor agreed to accept XBU at a discount from current illiquid market rates so that the company has paid 2,000 XBU/XT to settle this related party debt from its growing inventory of altcoins.
"Becoming debt free not only strengthens our balance sheet but is an important milestone for a development stage company which positions the company for a more rapid path to profitability."
The company is also conducting its first ICO (Initial Coin Offering) which is actively offered at a bonus to "early bird" participants. In order to participate in the company's recently announced AltCoin ICO, kindly review further details athttp://www.AltCoinMarketCap.com
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 is developing several cryptocurrency related businesses and owns and operates the following digital assets.
www.CoinQX.comcryptocurrency exchange, registered with FINCEN.
www.iCoiNEWS.comreal time cryptocurrency and bitcoin news site.
www.BITminer.ccproviding mining pool management services.
www.2016coin.orgonline daily election coverage and home page for $PRES, $HILL, $GARY& $BURN -commemorative presidential election coins.
www.bitcannpay.comOpen Loop merchant services for dispensaries.
List of Omni protocol coins issued on the Bitcoin Blockchain owned by the Company:http://omnichest.info/lookupadd.aspx?address=1FwADyEvdvaLNxjN1v3q6tNJCgHEBuABrS
Follow us on Twitter @First_Bitcoin $BITCF
About BITCOIN UNLIMITED
The Bitcoin Unlimited (BU) project seeks to provide a voice to all stakeholders in the Bitcoin ecosystem.
Every node operator or miner can currently choose their own block size limit by modifying their client. Bitcoin Unlimited makes the process easier by providing a configurable option for the accepted and generated block size via a GUI menu. Bitcoin Unlimited further provides a user-configurable failsafe setting allowing you to accept a block larger than your maximum accepted block size if it reaches a certain number of blocks deep in the chain.
By moving the block size limit from the protocol layer to the transport layer, Bitcoin Unlimited removes the only point of central control in the Bitcoin economy - the block size limit - and returns it to the nodes and the miners. An emergent consensus will thus arise based on free-market economics as the nodes/miners converge on consensus focal points, creating in the process a living, breathing entity that responds to changing real-world conditions in a free and decentralized manner.
This approach is supported by the evidence accumulated over the past six years. The miners and node operators have until now been free to choose a soft limit which, as demand grew, has always been increased in a responsive and organic manner to meet the needs of the market. We expect miners to continue in this tested and proven free-market way by, for instance, coordinating to set a new generated block size limit of 2MB and reject any blocks larger than 2MB unless they reach 4 blocks deep in the longest chain. As demand increases, the limit can easily be increased to 3MB, 4MB, and so on, thus removing central control over the process of finding the equilibrium block size by allowing the free market to arrive at the correct choice in a decentralized fashion.
As a foundational principle, we assert that Bitcoin is and should be whatever its users define by the code they run, and the rules they vote for with their hash power.
Bitcoin Unlimited seeks to remove existing practical barriers to stakeholders expressing their views in these ways.
For more information, please visitwww.bitcoinunlimited.info
Forward-Looking Statements
Certain statements contained in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as may be disclosed in company's filings. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release.Such forward-looking statements are risks that are detailed in the Company's filings, which are on file atwww.OTCMarkets.com.
Contact us [email protected] visithttp://www.bitcoincapitalcorp.com
SOURCE:First Bitcoin Capital Corp. || Bitcoin Hits New All-Time High: A year ago, one Bitcoin could be had for about $450. On Thursday, the cryptocurrency peaked at just over $1,340, as measured by the Coindesk price index , before retrenching slightly to $1318 by this morning. Thats still a return of nearly 200%. Bitcoin has seen a remarkably steady rise since early 2016, fueled by global regulatory normalization , broad interest in the technology from enterprises and banks , and rising transaction volumes. Cryptocurrency analysts, according to Coindesk, think the trend will continue , citing among other factors that most Bitcoin investors are long-term bulls who will take profits conservatively. Get Data Sheet , Fortune s technology newsletter. But the very transaction volume that is Bitcoins key fundamental also presents a serious medium-term threat, as the system has struggled to keep up. Transaction speeds have become impractical for merchant payments, and fees have risen, making the system less competitive with conventional payment systems such as credit cards. Struggles over how to fix the problem have raised the spectre of a network split -though that could, at least theoretically, give holders additional value in a manner akin to a stock split. Bitcoin had a notable previous peak of around $979 way back in November of 2013 (Coindesks number seems conservative here- Coinmarketcap records a 2013 peak of $1149). That push was fueled by a wave of mainstream media attention, but prices slumped through 2015 on the realization that the techs promise would take some time to fulfill, dipping as low as $204 that August. This article was originally published on FORTUNE.com || What US ETF Market Looks Like Today: It was just 24 years ago that the first ETF, theSPDR S&P 500 (SPY), came to market—ETF No. 1.
Now, with 51 new ETF launches having already occurred this year, we are about to hit a milestone: 2,000 ETFs listed in the U.S.
These funds already command more assets than hedge funds in an asset base that grows about 20-25% yearly. With nearly $3 trillion in assets in U.S.-listed ETFs alone, some are already projecting the size of the market to double by 2020.
If you talk to those who were part of the ETF industry’s early days—people likeState Street Global Advisors’ Jim RossandiShares’ former head Lee Kranefuss, you get a sense that no one would have guessed ETFs would take off as they did, and reinvent the way investors access the market.
“The growth of ETFs in U.S. capital markets is a textbook case study in ‘Disruptive Innovation,’ right alongside well-known historical examples like Amazon, Google, Facebook, Netflix and scores of others successful enterprises,” ConvergEx Nick Colas said in a commentary this week. “It is no exaggeration to say that there are more ETFs than investable stocks listed on U.S. exchanges.”
Today’s market definitely looks very different from its early days. The era of plain-vanilla products designed around well-known equity indices is giving way to a wave of innovation that has ETFs tapping into broad, diverse and niche pockets through various strategies today.
Here’s a broad overview of the market’s makeup, with data courtesy of FactSet:
Asset Class
Equity ETFsdominate in numbers and in assets. Roughly 70% of all U.S.-listed ETFs are equity funds—or some 1,385 ETFs in the market today. These U.S. and/or international equity ETFs have about $2.2 trillion in combined assets. That amounts to 78% of all U.S.-listed ETF assets, or nearly $8 out of every $10 invested in ETFs today.
Investors have plenty of choices when it comes to equity ETF exposures.
The biggest of these funds are all focused on U.S. stocks, led by SPY, with $233 billion in assets.IVVcomes at No. 2, with $103 billion; andVTIat No. 3, with $76 billion. Those three ETFs alone represent about 25% of assets specifically in U.S. equity ETFs, and 19% of all assets tied to equity ETFs, either domestic or international.
Fixed income ETFs—the second-largest asset class in this industry—command about $490 billion in total assets, the bulk of which is in U.S. fixed-income funds. This is a segment of the market that’s still growing.
There are only 317 fixed-income ETFs on the market today, which represents about 16% of all U.S. ETF listings. Many see fixed income as a still-opening-up frontier for more ETF innovation.
The remainder of the market is split into smaller slices:Alternatives ETFsrepresent about 2.6% of the total market;asset allocation ETFs2.2%;commodity ETFs5.7%; andcurrency ETFs1.5% of the total number of U.S. ETF listings.
Smart-Beta ETFs
Market-cap-weighted strategies were the first, and remain the largest number of, funds in the market. But it’s smart-beta funds that are driving asset growth and product innovation.
Smart beta goes by many names—some call it strategic beta, fundamental indexing, factor investing and more. But the ETFs in this category are simply rules-based strategies that aim to deliver better risk-adjusted returns than traditional market-cap-weighted indexes. They apply different selection screens, and weight securities in different ways to deliver a spectrum of results.
Today there are roughly800 smart-beta ETFson the market—that’s four out of every 10 ETFs in the market—and funds falling under this rubric represented roughly half of the ETFs that launched last year. Among equity ETFs, nearly half are some flavor of smart beta today. In the fixed-income space, where active management is still widely accepted, smart beta has been slower to find a following—only about 9% of all fixed-income ETFs today are smart-beta funds.
Costs
ETFs have always been known for their low cost, and ongoing fee compression keeps pushing price tags lower.
The cheapest ETFs on the market today carry a mere 0.03% expense ratio—that’s $3 per $10,000 invested. They are:
• Schwab U.S. Broad Market ETF (SCHB)
• Schwab U.S. Large-Cap ETF (SCHX)
• iShares Core S&P Total U.S. Stock Market ETF (ITOT)
These are all vanilla strategies, and as the market moves more toward smart-beta approaches, expense ratios have averaged higher because the more complex a fund is, the more it usually costs. But even in the smart-beta segment, fee compression is real.
The cheapest smart-beta ETFs today have 0.04% expense ratios—a pair of Schwab growth and value funds that use a multifactor selection process to pick securities, which are then market-cap-weighted in the portfolios.
Most ETFs today have expense ratios between 0.3% and 1.0%. But there are funds that come with hefty expense ratios. There are 22 ETFs that have expense ratios of more than 2%, and the most expensive ETF has an ER of 9.20%—that’s $920 per $10,000 invested. It’s theVanEck Vectors BDC Income ETF (BIZD).
ETF Issuers
Roughly 82% of all U.S.-listed ETF assets are managed by three single ETF issuers—BlackRock’s iShares, Vanguard and State Street Global Advisors. iShares’s dominance is uncontested, as the firm alone commands about $1 trillion of all ETF assets in the U.S.
But there are a growing number of ETF issuers, with new firms looking for ways to join the bandwagon as investors demand access to the ETF wrapper.
Today we count nearly 80ETF issuersin all, each trying to find their niche in a market that’s increasingly diverse.
At the end of the day, the number of ETF launches—which outpaces ETF closures year after year—and the continued entry of these new ETF players, suggest that 2,000 ETFs with nearly $3 trillion in the U.S. alone may very well be just the beginning for this “disruptive innovation” of an industry.
Contact Cinthia Murphy [email protected]
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Permalink| © Copyright 2017ETF.com.All rights reserved || Jamaican Shamique Simms Is the New Caribbean's Next Top Model: MIAMI, FL--(Marketwired - Apr 4, 2017) - Shamique Simms is the Caribbean's Next Top Model (CaribeNTM) 2017. The finale of CaribeNTM took place on Monday April 3 rd and this year's competition ended in dramatic fashion, as two contestants tied for second place -- Samantha West from Trinidad and Nkechi Vaughn Guyana. It was, however, the 5 foot 9 Jamaican who won the judges over with her grace and natural beauty, as well as her ability to work the camera no matter the setting or theme. This season's competition was held against the backdrop of the enchanting 'spice isle' of Grenada, and whether she was covering herself with oil for the infamous ' jab jab' shoot or getting artistic in an underwater shoot , Simms' versatility and raw modelling talent led her to the top position. Along with the title of being the Caribbean's Next Top Model, Shamique was also awarded US$25,000 in cash; an international modelling agency contract with Mint Model Management, NY; a cover feature and editorial spread in SHE Caribbean magazine; and the latest generation iPhone from Flow . "Flow congratulates Shamique on her much deserved big win," said Wendy McDonald, Senior Director Communications, for the Caribbean. "Last year we welcomed the opportunity to partner with CaribeNTM as we saw this as a unique platform to provide exposure of young Caribbean talent both in front of and behind the camera. For us this is not just a competition but it is an investment in the development of the Caribbean fashion industry and our capacity to create local content that is on par with international standards. Additionally, it provides our viewers with unmatched access to local and regional content." The third season of The Caribbean's Next Top Model, presented by Flow , premiered on January 30 th exclusively on Flow 1 with 17 fresh-faced ladies from all across the Caribbean. This season, Flow customers were able to watch the drama unfold 'on the go' for the first time via the Flow ToGo app or watch and re-watch any episode via Flow On Demand , ensuring they never missed a moment of the excitement. Story continues Congratulating the winner, as well as each of the participants, the CaribeNTM co- executive producer, host, judge and former Miss Universe Wendy Fitzwilliam said: "Shamique competed amongst our toughest field of aspiring models yet, and always maintained her focus throughout the competition. More than any other participant, Shamique entered the competition with a clear understanding of what is required of her in the modelling industry. She consistently grew throughout the competition and it is this combination of preparedness and dogmatic perseverance with respect to her diet, fitness, mental strength and positive outlook that gave this "chocolate" beauty, as she was fondly called by her fellow models, the edge." While there is only one winner, Flow would like to congratulate all the participants and finalists of Season 3 of the Caribbean's Next Top Model. Editors' Note : Caribbean's Next Top Model (#CaribeNTM) is produced Starfish Media Ltd. and hosted by Miss Universe 1998, Wendy Fitzwilliam. It is a reality television competition based on the original production America's Next Top Model, and the America's Next Top Model format, created by Tyra Banks and licensed by CBS International. It follows the stories of aspiring young women seeking to launch a career in the competitive world of modelling. Fitzwilliam hosts Caribbean's Next Top Model as head judge, accompanied by judges: international photographer, Pedro Virgil and Caribbean fashion pundit extraordinaire, Socrates McKinney . For Season 3, CaribeNTM combed more than 30 Caribbean territories and narrowed more than two hundred (200) applicants down to seventeen (17). About C&W Communications C&W is a full service communications and entertainment provider and delivers market-leading video, broadband, telephony and mobile services to consumers in 18 countries. Through its business division, C&W provides data center hosting, domestic and international managed network services, and customized IT service solutions, utilizing cloud technology to serve business and government customers. C&W also operates a state-of-the-art submarine fiber network -- the most extensive in the region. Learn more at www.cwc.com , or follow C&W on LinkedIn , Facebook or Twitter . About Liberty Global Liberty Global is the world's largest international TV and broadband company, with operations in more than 30 countries across Europe, Latin America and the Caribbean. We invest in the infrastructure that empowers our customers to make the most of the digital revolution. Our scale and commitment to innovation enable us to develop market-leading products delivered through next generation networks that connect our 25 million customers who subscribe to over 50 million television, broadband internet and telephony services. We also serve over 10 million mobile subscribers and offer WiFi service across 5 million access points. Liberty Global's businesses are comprised of two stocks: the Liberty Global Group ( NASDAQ : LBTYA ) ( NASDAQ : LBTYB ) ( NASDAQ : LBTYK ) for our European operations, and the LiLAC Group ( NASDAQ : LILA ) and ( NASDAQ : LILAK ) ( OTC PINK : LILAB ), which consists of our operations in Latin America and the Caribbean. The Liberty Global Group operates in 11 European countries under the consumer brands Virgin Media, Unitymedia, Telenet and UPC. The Liberty Global Group also owns 50% of VodafoneZiggo, a Dutch joint venture, which has 4 million customers, 10 million fixed-line subscribers and 5 million mobile subscribers. The LiLAC Group operates in over 20 countries in Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Más Móvil and BTC. In addition, the LiLAC Group operates a sub-sea fiber network throughout the region in over 30 markets. For more information, please visit www.libertyglobal.com . Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=3126367 Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=3126384 || We went inside an Amazon Prime Now hub to learn how Amazon does 2-hour delivery: Amazon (NASDAQ: AMZN) is quietly expanding Prime Now, its free 2-hour delivery service. After originally launching in one zip code in New York City back in 2014, it's now available in more than 45 cities in eight countries. This year alone, it's added 14 more cities. But don't feel bad if you haven't heard about it yet. Amazon may be keeping it under wraps as it ramps up its offerings and perfects its fastest delivery method yet. After all, you won't find the service on the Amazon mobile app — you'll have to give up some screen real estate for its "Prime Now" app. We headed inside one of Amazon's Prime Now hubs in the company's hometown, Seattle, to see for ourselves what free 2-hour delivery looks like. What we found was surprising efficiency, a whole lot of randomness and some hints as to what Seattle consumers are shopping for. And, possibility, Amazon's vision for the future of ecommerce and retail. The Prime Now service offers a smaller selection of mostly household items available on Amazon.com to Prime members with a free 2-hour delivery window. It's no small feat considering there are tens of thousands of products available, as well as selections from local restaurants and stores. There's even ice cream and chilled wine on offer. Unlike Amazon.com's fulfillment centers, which are over a million square feet and house millions of items, Prime Now hubs are closer to city centers and about 30 to 50 square feet on average. Humans — not robots — manually pick out the items in an order from rows of shelving and bins, using internal Amazon systems that have cataloged where every item is stored. Amazon can also tells a "picker" the most efficient route to getting all those items as quickly as possible. When we visited the hub, around noon, there were only a few orders to fill and everything seemed to run smoothly. We didn't get to see how the hub handled a rush of orders or bottlenecks, which typically happen around 6 or 7pm when customers order items or groceries to arrive as they get home. More From CNBC Gianforte win means two of Montana's three congressional reps have Oracle ties Facebook is making a big push this summer to sell ads to drugmakers Bitcoin rival Ripple is sitting on many billions of dollars worth of currency || WannaCry: Everything You Need To Know About the Ransomware Sweeping the Globe: A massive cyberattack has been spreading across the globe since Friday , hitting hundred of thousands of computers and crippling major government and corporate operations. The malware is known as WannaCry, and here’s what you need to know. Isn't the Attack Over? Absolutely not. There were widespread reports on Saturday that a security researcher had discovered a "kill switch" that stopped the ransomware from spreading, but that's only partly true. The kill switch certainly slowed WannaCry down, but it only stopped some of the ways the malware could spread. And Kaspersky Lab security researchers confirmed within hours that new versions of the malware had been detected which were not stopped by the kill switch . The ransomware spread to thousands more computers on Monday morning , as companies continued to cope with the fallout of the initial attack, the Associated Press reported. What Does WannaCry Do? WannaCry is ransomware, a growing category of extremely heinous malware. Once it has activated on a machine, it encrypts the files on that machine so they are inaccessible. Then it instructs the owner to pay a ransom in Bitcoin in exchange for unlocking the files. Get Data Sheet , Fortune's technology newsletter. Who Is it Targeting? Broadly speaking, WannaCry exploits vulnerabilities in older Windows operating systems, including Windows XP. issued a patch for those systems on Friday, but that didn't stop it from hitting more than 200,000 machines in 150 countries . That has included dozens of large institutions and companies, including the U.K.’s National Health Service , China's National Petroleum Corporation, and Renault factories in France . How Can I Protect Myself? If any of your personal or corporate systems run an older version of Windows (XP, 8, or Server 2003 specifically), you or your admins should immediately install Microsoft's new security update . You should also, as always, remain extremely careful about opening any email attachments, from known or strange sources. But the truly scary thing about WannaCry is that it can reportedly spread over local networks without user interaction . Some authorities--including the government of Indonesia --are suggesting disconnecting unprotected machines from the Internet. Story continues Is There a Fix If My Computer Is Infected? Short answer: No. Security firms are getting better at decrypting files from ransomware attacks, but there are as yet no reputable decryptors (tools for removing ransomware) for WannaCry--though that could change at any time. And don’t get tricked twice. Hackers could even use the promise of a WannaCrypt fix as bait for further infections, so be extremely skeptical. Also, according to McAfee researchers, WannaCry deletes so-called 'Volume Shadow' backups that can sometimes be used to restore files. That said, there is one unsavory option here: pay the ransom. WannaCry demands $300 in Bitcoin to unlock files on a machine, and hackers running ransomware have historically proven remarkably trustworthy in fulfilling their end of that bargain. (Whether paying is the ethical move is a big, thorny debate .) Where Did It Come From? WannaCry is believed to have been created with the (unintentional) assistance of the U.S. National Security Agency. An NSA exploit known as EternalBlue, part of an April release by a hacking group called the Shadow Brokers, is at its core. Why Would Someone Do This? To make money, though that doesn't seem to be working out so well. While global financial damages from the attack could easily climb into the hundreds of millions, the (publicly viewable) Bitcoin addresses collecting ransom for the attackers are almost comically light: at this writing, they contain barely over $34,000 worth of Bitcoin. See original article on Fortune.com More from Fortune.com Ransomware Attack Sends Cybersecurity Stocks Soaring Microsoft Windows Now Patched Against WannaCry Ransomware Attack Ransomware Attack Targeting Microsoft Windows Hits Spanish Telco Giant Telefonica Exclusive: Dell Technologies Is Selling This Cloud Group How to Protect Yourself From Ransomware || How a security researcher miraculously and accidentally killed the ‘WannaCry’ ransomware: The massive ransomware hack targeting Windows machines across the globe was stopped dead in its tracks by a security expert who inadvertently activated a “kill switch” built into the malware’s code. The ransomware, dubbed “WannaCry”, made headlines on Friday after infecting computers in nearly 100 countries across the world, with Russia and England reportedly seeing the highest number of infections. The ransomware effectively locks users out of their machines, encrypts their files, and instructs them to send $300 worth of Bitcoin in order to reclaim them. The ransomware also states that the $300 payout will increase if a prompt payment isn’t made. Don't Miss : Apple’s iPhone 8 will be the most expensive iPhone the world has ever seen The exploit, which proliferates via email, was reportedly part of a vast treasure trove of NSA hacking tools leaked by a hacking group known as the Shadow Brokers last month. And though the exploit had since been patched by Microsoft, not everyone had updated their software accordingly. So how did the WannaCry campaign come to an end? Well, a young security researcher — known as malwaretechblog on Twitter — took a look at the ransomware’s code and noticed that it connected to an unregistered domain name consisting of a random string of characters. Out of curiosity, he registered the domain and inadvertently shut WannaCry down. The following photo via Kevin Beaumont is instructive: Detailing how the surprise discovery of the kill switch went down, The Guardian reports: The kill switch was hardcoded into the malware in case the creator wanted to stop it spreading. This involved a very long nonsensical domain name that the malware makes a request to – just as if it was looking up any website – and if the request comes back and shows that the domain is live, the kill switch takes effect and the malware stops spreading. The domain cost $10.69 and was immediately registering thousands of connections every second. MalwareTech explained that he bought the domain because his company tracks botnets, and by registering these domains they can get an insight into how the botnet is spreading. “The intent was to just monitor the spread and see if we could do anything about it later on. But we actually stopped the spread just by registering the domain,” he said. But the following hours were an “emotional rollercoaster”. For anyone curious about the nitty-gritty details surrounding malwaretechblog’s ransomware killing adventure, he posted an article detailing the experience on the National Cyber Security Centre website. It’s well worth a read. Story continues It’s worth adding that everyone shouldn’t breathe a sigh of relief just yet. It’s imperative that users should backup their important files, avoid clicking on suspicious emails, and make sure that their operating system software is up to date. Trending right now: Apple’s iPhone 8 will be the most expensive iPhone the world has ever seen New Google Pixel 2 leak shows raw power that comes with stock Android O T-Mobile’s latest smartphone deal is one of the best yet See the original version of this article on BGR.com View comments || Bitcoin rival Ripple is suddenly sitting on many billions of dollars worth of currency: Blockchain start-up Ripple is in a precarious position for a 5-year-old company.
The business is still in its very early days but suddenly has billions of dollars worth of cryptocurrency on its balance sheet.
Ripple, which built a digital payments network for real-time financial transactions, is also the creator and biggest owner ofRipple XRP, a digital currency that has increased in value by 40 times this year.
There's a total of 100 billion XRP in existence, each priced at about 26 cents. The $26 billion of total value is second among cryptocurrencies, behindbitcoin, which is valued at $41 billion.
Ripple owns about 61 percent — or $16 billion worth — of XRP.
If that were factored into the company's valuation, Ripple would be worth more than all but four U.S. start-ups — Uber, Airbnb,Palantirand WeWork.
XRP is surging alongsidebitcoinandetheras well as smaller digital currencies like dash and monero. They're all benefiting from the surging interest inblockchain, a distributed electronic ledger that makes all transactions trackable. Unlike other cryptocurrencies on the market, XRP is tied to — and majority-owned by — a single company.
That's led to concern among XRP investors and enthusiasts that Ripple will one day decide to capitalize on its massive stake and flood the market with currency. Some venture investors would surely welcome cashing in on some of that value after pouring about $94 million into the company.
But for people with thousands (or millions) of dollars wrapped up in XRP, the fear of a sudden excess of supply has been unsettling, particularly considering the volatility of the currency. The price fell 13 percent late in the day on Thursday and double-digit daily moves are normal.
To create some long-term stability and ease those concerns, Ripple announced aplanlast week for the structured sale and use of its currency. By the end of 2017, the company will put 55 billion of its XRP into escrow and will unleash up to 1 billion into the market every month. Thus, investors will have some sense of what's coming.
"We decided to take the issue off the table," Ripple CEO Brad Garlinghouse said in an interview. "We wanted to make sure we were combating any uncertainty about supply."
Garlinghouse is a well-known name in Silicon Valley. He had senior executive roles at Yahoo(YHOO)and AOL and was CEO of Hightail (formerly YouSendIt) from 2012 to 2014. He joined Ripple in 2015, and earlier this year took over the CEO role from founder Chris Larsen, a serial entrepreneur, who previously started online lender Prosper.
Garlinghouse likened Ripple's situation to Yahoo, which derives almost all of its current value from its large stake in China's Alibaba(: ). (Yahoo's core business is being sold to Verizon(VZ)and the Alibaba stake is being spun out into a new holding company calledAltaba.)
The analogy only goes so far, as equity investors haven't ascribed a big multibillion dollar valuation to Ripple. The company last raised money inSeptember, when the XRP currency was worth a tiny fraction of its current price.
However, Ripple's business has picked up quite a bit of momentum since then, which helps explain at least some of XRP's rally. Last month, Ripple signed up10 new financial institutions, including BBVA, to its payments platform that supports speedy transactions by eliminating all the friction that exists between various currencies and financial systems.
Global banksincluding Bank of America(BAC), RBC(Toronto Stock Exchange: RY-CA)and UBS(Swiss Exchange: UBSG-CH)are also customers. While bitcoin is the more establishedcyptocurrency, it's primarily used today as an investment vehicle and has run into big latency problems with handling transactions.
Ripple and ethereum have emerged as the early leaders in enabling business arrangements, with Ripple trying to build the digital payments standard for the financial sector.
"Some of those banks are all in and some are still in the early stage running a pilot," Garlinghouse said. "We have real customers touching real production systems. We're the only company you can say that about in our space."
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[Random Sample of Social Media Buzz (last 60 days)]
Current price of $BTC is $1479.00 via Chain #bitcoin #btc || #Anoncoin/#ANC price now: $0.024511, that's 0.00% change in 1hour. 42.00% past day, and 49.33% in the past week! #Bitcoin is $1169.47 || Bitcoin works at 10,000 or 2.00, honey badger || $1220.01 at 19:15 UTC [24h Range: $1208.00 - $1227.00 Volume: 2977 BTC] || El precio actual del BTC es de 1195.00$ || $1324.00 at 18:15 UTC [24h Range: $1281.00 - $1338.00 Volume: 7722 BTC] || Une banque n'offre pas une protection absolue.
Philippe Herlin
Chercheur en finance et Auteur du livre La Révolution du #Bitcoin. pic.twitter.com/p54HVH08ie || $1549.71 at 09:45 UTC [24h Range: $1505.00 - $1578.97 Volume: 7792 BTC] || #DigitalNote #XDN $0.000176 (-3.00%) 0.00000014 BTC (-4.41%) || Try fatguyslim.gary at https://LocalBitcoins.com/ad/325323?ch=w7m … only £1,005.00 per BTC. (BPI +3.56%) #buy #bitcoin #banktrans
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Trend: up || Prices: 2155.80, 2255.61, 2175.47, 2286.41, 2407.88, 2488.55, 2515.35, 2511.81, 2686.81, 2863.20
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Bitcoin Cash, Litecoin and Ripple Daily Analysis 04/11/18: Bitcoin Cash Bucks the Trend Bitcoin Cash gained a further 3.33% on Saturday, following Fridays 8.98% rally, to end the day at $481.3, the gains coming in anticipation of support at the 15 th November hard fork. A relatively range bound start to the day saw Bitcoin Cash ease back to a late morning intraday low $459.4 before resuming Fridays upward trend, the first major support level at $436 left untested on the day. Rallying through the 2 nd half of the day, Bitcoin Cash broke through the first major resistance level at $485.8 to strike an intraday high $488 before easing back, with resistance at $500 pinning Bitcoin Cash back from a run at the second major resistance level at $505.8. At the time of writing, Bitcoin Cash was up 0.26% to $482.1, with upward momentum from Saturday continuing into Sunday, Bitcoin Cash rising from a start of a day morning low $480.4 to an early morning high $482.9, the days major support and resistance levels left untested early on. For the day ahead, a hold onto $480 levels through the morning would support further gains through the day, with a break through to $490 levels to test the first major resistance level at $493.07 to bring $500 levels back into play quite likely should the news wires remain crypto friendly. Failure to hold onto $480 levels through the morning could see Bitcoin Cash reverse some of the weekend gains ahead of the start of the week, with a pullback through to sub-$480 levels likely to bring the first major support level at $464.47 into play before any recovery, more material losses unlikely in the event of a reversal, barring materially negative news hitting the wires. {alt} Litecoin Sees Red Litecoin fell by 1.02% on Saturday, partially reversing Fridays 1.93% gain, to end the day at $50.61, the days loss bring to an end 4 consecutive days of gains to take Litecoin deeper into the red for the week. A bearish morning saw Litecoin fall from a start of a day intraday high $51.3 to a late morning intraday low $50.34 before steadying, the days low coming within range of the first major support level at $50.25, while the major resistance levels were left untested through the day. Story continues At the time of writing, Litecoin was down 0.2% to $50.51, with Litecoin easing from a start of a day morning high $50.61 to a morning low $50.49, early moves leaving the days major support and resistance levels untested. For the day ahead, a move through the morning high $50.61 to $50.75 would support a run at $51 levels to bring the first major resistance level at $51.16 into play, with any shift in sentiment likely to see the second major resistance level at $51.71 come into play before any pullback. Failure to move back through the morning high to $50.75 could see Litecoin extend the weeks losses, with a fall through the morning low $50.49 bringing the first major support level at $50.2 into play, with the days second major support level at $49.79 in play should Litecoin fail to make a move by late morning. {alt} Ripple Slides Ripples XRP fell by 1.12% on Saturday, reversing Fridays 0.35% gain with interest, to end the day at $0.4573, the days loss also ending 4 consecutive days of gains. Tracking the broader market, Ripples XRP pulled back from a start of a day intraday high $0.46455 to an early afternoon intraday low $0.45525, calling on support at the first major support level at $0.4585 before steadying. While the days major resistance levels were left untested, Ripples XRP was unable to break back through the first major support level by the days end to leave the days bearish trend intact going into Sunday. At the time of writing, Ripples XRP was down 0.23% to $0.45585, with Saturdays pullback continuing into the early hours, Ripples XRP easing from a start of a day morning high $0.4573 to a morning low $0.45537, the days major support and resistance levels left untested early on. For the day ahead, a move back through the morning high $0.4573 to $0.4590 would support a run at $0.46 levels to bring the first major resistance level at $0.4628 into play, while we would expect Ripples XRP to fall short of the second major resistance level at $0.4683 and $0.47 levels on the day. Failure to move through the morning high could see Ripples XRP take a bigger hit later in the day, with a pullback through the morning low $0.45537 to the days first major support level at $0.4535 likely to bring sub-$0.45 levels and the second major support level at $0.4497 into play before any recovery. {alt} Buy & Sell Cryptocurrency Instantly This article was originally posted on FX Empire More From FXEMPIRE: Price of Gold Fundamental Weekly Price Forecast Democrat Victory Could Spell Doom for Stocks, Increase Golds Appeal as Safe Haven Asset Gold Monthly Forecast -November 2018 Oil Price Fundamental Weekly Forecast Iran Sanctions Begin, Nearby WTI Closes Below 200-D Moving Average U.S Mortgages Rates Ease Back on Octobers Risk Aversion S&P 500 Weekly Price Forecast stock traders turn bullish for the week Kiwi, Aussie Surge as Investors Ramp Up Hope for More China Stimulus, Trade Deal || Bitcoin Plunges to a Year-Long Low: Photo credit: S3studio - Getty Images From Popular Mechanics Last December, the price of Bitcoin was soaring to its all-time high of of $19,666 per coin, which it hit on December 17th. And, in the heat of the moment, some were predicting it was on its way to $1 million . Here in November 2018, though, Bitcoin has dropped as low as $4,200 , its lowest point in the last calendar year. And that's probably for the best considering Bitcoin is an environmental scourge by its very nature . The path to this new low started on December 22nd 2017 with a precipitous crash followed by periodic rebounds which did little to stop the ultimate trend towards the new year-long low. This comes amid increasing discussion of Bitcoin's environmental cost. The very bones of Bitcoin require massive amounts of computing power and therefore massive amounts of energy, which has culminated in comically depressing scenarios like Bitcoin boosters petitioning for the re-activation of a coal-fired power plant and swarming a small town in upstate New York where hydroelectric power resulted in unusually low energy prices . The energy costs-and the ensuing environmental costs-of Bitcoin have always been known, but they take on a new urgency in the face of the Intergovernmental Panel on Climate Change (IPCC) report that unprecedented changes are required in the next 12 years to save the planet from catastrophic consequences. That, and how California is currently suffering from the largest fire in its history, which experts predict is not remotely close to being contained , killing dozens, displacing thousands, and creating wildly dangerous air quality conditions in San Fransisco . Will Bitcoin rebound? Maybe, but for the good of everyone maybe we should hope that it doesn't. ('You Might Also Like',) This Device Can Send Messages Without Cell Service The Best Portable BBQ Grills for Cooking Anywhere The Best Video Game the Year You Were Born || Q&A with Industry Veteran Brian O’Donnell on ETF Distribution: This article was originally published onETFTrends.com.
In an ETF industry that’s grown exponentially over the past decade, strong leadership is a must-have, especially when it comes to differentiating oneself from the masses of product offerings available in the marketplace. That’s exactly what financial industry veteran Brian O’Donnell brought with him when he joined Northern Trust Asset Management as Head of Business Strategy, Enablement and Administration for the Funds and Managed Accounts Group, including its FlexShares suite of ETFs.
In O’Donnell’s new role, he will be responsible for developing business strategies that cater to the firm’s ETF, mutual fund, and multi-asset class investment solutions, as well as business intelligence, to optimize its service model for both intermediary and institutional investors.
O’Donnell’s 20-plus years of experience includes a stretch at BlackRock, where he was Head of Americas Cash & Liquidity Sales and Distribution. In his role at BlackRock, O’Donnell oversaw a team responsible for the firm’s global liquidity business across all client channels. Furthermore, O’Donnell led BlackRock’s mutual fund and iShares ETF business development for the RIA channel, and orchestrated the development and implementation of iShares’ distribution strategy for the Asia Pacific market.
O’Donnell’s global experience and leadership presents a strong fit with Northern Trust Asset Management given that it has an investor base located in 29 countries across the globe and over $970 billion in assets under management.
Brian was able to speak with the ETF Trends team to discuss his new role and offer his insight on an ever-changing financial industry, especially in the ETF space.
You left the largest ETF manager in the world and now you’ve joined Northern Trust Asset Management. What prompted the move?
I’m grateful for the 16 plus years spent with BlackRock and Barclays Global Investors, particularly how much fun it was in the very early days from 2001 to 2010, with the explosive growth of iShares. There are several reasons I chose to join Northern Trust Asset Management. Extremely compelling to me are the five values that define the culture within the firm—passion for investing, high competency, intellectual curiosity, diversity of thought and humility. Of particular note, humility manifests itself in everyone being extremely respectful of not only clients, but of one another.
The second strong attraction was the firm’s priorities, which speak to where the industry is headed. I’m referring to an expansion of our client franchise by identifying opportunities in new as well as current markets and segments—that’s exciting to me. And with so much of that opportunity being in quantitative investment strategies, Northern Trust Asset Management is positioned extremely well given our expertise in factor investing for which we bring nearly 25 years of experience to the table.
Northern Trust Asset Management and FlexShares are committed to offering predictable outcomes and compensating our clients for the risk they take in their portfolios. Our FlexShares ETFs continue to be a strategic priority of the firm and have a perfectly fitting tagline of “built by investors, for investors” since each and every fund is designed by our investment professionals to meet fundamental investor objectives.
Multi-asset and digital solutions are two other strategic priorities that also resonate very highly with me. We’ve all seen the growth of those areas in the industry and the way that Northern Trust Asset Management is positioned to deliver on them is very appealing to me.
Finally, the opportunity to be the head of business strategy for our funds, managed accounts and ETF business is a real privilege, as I’m fortunate to contribute to the continued success of a world class organization with a 129-year track record for service, expertise and integrity. It’s a pretty exciting role.
In an ETF industry that’s dominated by three industry giants, how does a firm like Northern Trust Asset Management differentiate its FlexShares ETFs?
What’s most exciting to me about FlexShares is the innovative and entrepreneurial culture that has been the inspiration for our 26 outcome-oriented ETFs. This truly differentiates us.
If you think about some of the challenges that a lot of ETF providers face, especially with the big three dominating a lot of the flows, products, etc. credibility and scale are certainly front and center for new entrants. And for those firms with legacy active mutual fund complexes and distribution models, prioritization can be a major challenge. The nice thing about Northern Trust Asset Management is we have the credibility and scale that has helped us to grow the FlexShares franchise.
As it relates to being innovative, FlexShares was one of the first ETF sponsors to introduce a multi-factor equity fund--FlexShares Morningstar US Market Factors Tilt ETF (TILT) . We continue to innovate; we just launched theFlexShares High Yield Value-Scored Bond Fund (HYGV) , which brings to the market a renewed focus on yield by maximizing the value factor to enhance total return potential. FlexShares’ research and testing has revealed that an allocation above the market weighted index to value contributes meaningfully to performance and alpha generation. So we’re continuing to innovate and remain focused on outcome orientation.
Advisors clearly find our approach attractive, as FlexShares has achieved sizeable growth, reaching over $15 billion in assets since its 2011 inception. In only seven years, we have become the 12 th largest sponsor in the U.S. and rank 24 th worldwide, so we’re excited about the trajectory of the business.
Active versus passive management: what does the future hold for each in the ETF space?
Our perspective is that there’s certainly room for both. As it relates to Northern Trust Asset Management and FlexShares, our philosophy is rooted in the belief that investors should be compensated for the risk they take in all markets and with any investment strategy. At the heart of that philosophy is how we think, view and analyze risk to ensure that we’re risk-aware investors when risk is taken intentionally. And, again, FlexShares strives to achieve investment outcomes or goals that investors’ desire, which is the most important thing.
We’ve translated this outcome-oriented focus into four areas—capital appreciation, risk management, income generation, and liquidity management—all delivered through passive or active strategies.
To what degree do multi-asset class model portfolios with ETFs present distribution opportunities?
It’s a very large and fast-growing area of the industry and its’ a critical area of growth for Northern Trust Asset Management. The way we see it is our managed account solutions are designed to combine our asset allocation and portfolio construction expertise with our cost-effective FlexShares ETFs. Northern Trust Asset Management offers a Goal Engineer Series of model portfolios, which are based on time horizons, similar to target-date funds. We also offer Diversified Strategist Portfolios, which target five different investment objectives, from income to maximum growth. In addition, advisors who wish to create their own model portfolios using FlexShares funds of their own choosing, can follow FlexShares Strategic Models that have recently been created. They target the same five investment objectives as the Diversified Strategist Portfolios, from income to maximum growth.
The way we’re differentiating ourselves is that we’re utilizing a multi-factor approach with an emphasis on quality -- and that’s unique. We’re seeing a lot demand for this in the marketplace with platforms and other areas that are adding multi-asset class ETF solutions and making them available to advisors and clients.
What do you see are the biggest distribution challenges for the ETF industry?
I think it’s a couple of things: One, the proliferation of ETFs and the growth in the expansion of providers. It’s really nothing new. The ongoing challenge is how ETF providers differentiate themselves—that’s not going to change.
Another challenge becoming even more difficult is getting access to advisors through platforms and gatekeepers; which is why so many providers are focused on their national and strategic accounts strategy. If you look at a lot of the new ETF issuers, they’re either new to asset management in general or they’re connected to a large legacy active mutual fund complex, which pose specific challenges which we discussed earlier. For new entrants, its credibility and scale that will be their challenge. For the large legacy active mutual fund shops that are getting into the ETF space, it's prioritization and identity.
As I noted earlier, Northern Trust Asset Management has the credibility and scale in that we manage over $970 billion and are the 16 th largest asset management firm in the world. We have diverse insights and scale as well as distinctive solutions that we provide to our clients already. This has helped FlexShares establish a strong brand and again, we’ve amassed over $15 billion since our inception in 2011, a fairly quick rate of growth relative to our competition.
Where do you see the most opportunity: the intermediary or institutional channel?
We see opportunity in both. More specifically, there’s opportunity for FlexShares across a broad array of investors. The distinction is how each of those clients decides to implement ETFs in portfolios. One of the reasons I joined Northern Trust Asset Management was because of my experience with institutional asset managers’ use of ETFs.
What we’re seeing in the institutional space is increasing demand for some of the more targeted products. For FlexShares, we’re seeing demand forFlexShares Morningstar® Global Upstream Natural Resources Index Fund (GUNR) ,FlexShares STOXX® Global Broad Infrastructure Index Fund (NFRA) and also ourFlexShares Global Quality Real Estate Index Fund (GQRE) . Institutional investors, consultants, insurance companies, pensions, foundations, endowments and family offices are looking at these products for real asset exposure in a liquid vehicle. We’re also seeing demand in factor fixed-income or more specifically, ourFlexShares High Yield Value-Scored Bond Index Fund (HYGV) .
Factor investing with ETFs has been gaining increased interest among advisors. What do you attribute this to and how is FlexShares positioned for this latest development?
What we are seeing is growth on multiple levels including in terms of products, distribution and advisor acceptance of factor-based ETFs. This growth is across the board including retail investors, advisors, intermediaries, platforms and institutional investors. The other thing that we’re seeing is more adoption of factor-based strategies in multi-asset class solutions and models which will act as drivers for continued growth of factor ETFs in terms of numbers of products and assets. FlexShares is well-positioned to benefit from this trend as we tap into the nearly 25 years of factor and quantitative investing expertise at Northern Trust Asset Management; we were a true pioneer in the field. It’s going to continue to be an area of growth not only for us, but the industry as a whole.
Any closing comments?
Northern Trust Asset Management is going to continue to innovate by providing outcome-oriented solutions for our clients, including through quantitative or factor investing and FlexShares. I’m excited to help expand our presence in both the individual and institutional markets.
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READ MORE AT ETFTRENDS.COM > || Bitcoin Inches Up; Former Mt. Gox CEO Could Face 10-Year Prison Sentence: Investing.com - Cryptocurrencies inched up in a holiday-time rally on Wednesday, but still remained below all-time highs this time last year. Bitcoin rallied 1.2% to $3,437.80 on the Investing.com Index, as of 8:19 AM ET (13:19 GMT). Digital coins have fallen dramatically in recent weeks traders worry about increased regulatory scrutiny and volatility. Cryptocurrencies overall were higher, with the total coin market capitalization at $110 billion at the time of writing, compared to $107 billion on Tuesday. Ethereum, or Ether, increased 1.9% to $89.26 and Litecoin was at $24.21, up 4.5%, while XRP rose 2.3% to $0.30462. Meanwhile, former CEO of defunct Bitcoin exchange Mt. Gox, Mark Karpeles, could get a 10-year prison sentence, Japanese officials said. Karpeles allegedly embezzled $3 million of client money that was kept in a bank account and instead transferred the money to his own account in 2013. Karpeles has pleaded not guilty. At its height, Mt. Gox handled nearly 70% of all bitcoin transactions globally and was the worlds biggest exchange. In other news, the Central Bank of the UAE is working on a joint project with Saudi Arabia to issue a digital currency between the two countries, the governor of the UAE central bank said on Wednesday. This is probably the first time ever that witnesses the cooperation of monetary authorities from different countries on this topic and we hope that this achievement will foster similar collaboration in our region, Mubarak Rashed Al Mansouri said, according to the Gulf News. Right now the two countries are studying the topic and the currency would be between the two banks, not for consumers. Both banks have warned clients against investing and using digital currencies due to its speculative nature. Related Articles Allianz Global Investors Chief Calls for Cryptocurrency Ban Nigerian Banking Regulator Warns Bitcoins Disintermediation Is a Critical Concern Romper Room to White Linen: Saying Goodbye to Cryptos Infant Anarchy View comments || Former Ernst & Young Analyst Disillusioned by the Blockchain: Blockchain A recent article in Barron’s describes Angus Champion de Crespigny, who spent ten years at professional services firm Ernst and Young and led the blockchain financial services division for years and was the subject of the article entitled “This Blockchain Believer Turned Heretic Is Still Bullish On Bitcoin,” as a “major skeptic.” Champion de Crespigny describes himself as an “experienced executive with 11 years in financial services, evangelist for bitcoin and cryptocurrencies, and a pragmatist for distributed and decentralized systems.” Through the course of the interview, Champion de Crespigny speaks on his learned experience regarding the blockchain and how it transformed him from a “believer” to his present state as a pessimist regarding the blockchain and what it can actually do for businesses. The article is quick to note that the former employee does not speak for EY – in a statement to the publication they said blockchains “really can provide value.” On its website, Ernst & Young claims an even more positive outlook on blockchain: Blockchain technology has the potential to universally reshape the way business transacts across nearly every industry in the global economy. They note that their clients collectively have more than 50 blockchain-enabled products around the world. And as we recently reported here at CCN, EY and several other firms of similar nature have an insatiable need for blockchain experts . EY also very recently launched its own blockchain product . But Angus Champion de Crespigny, who was down in the trenches with the blockchain, isn’t so positive on it. He left college the very year Bitcoin was finishing up development and was a very junior associate at EY when the Bitcoin blockchain first launched. EY obviously had no blockchain division at that time, and Champion de Crespigny took an interest in Bitcoin well in advance of the company taking an interest. As he told Barron’s: Story continues I got very involved in the community then, which was quite small. […] I started advising on regulatory considerations, which are now kind of commonplace. Over time at EY, as more and more clients were asking about it, I was more and more the go-to guy. We eventually formed a group. So while I was actively working on it starting in 2014, the group was really formalized in 2015. He says he had a very optimistic view of the blockchain before and after the formal creation of a job advising on the financial aspects of it. “It would be silly for me to say otherwise. My views were aligned with a lot of the common views at the time. ” Champion de Crespigny describes the problematic nature of a public blockchain as regards the needs of private enterprise. In his view, from his experience, the usual problem was that of coordination on standards for a given blockchain product. […] if everyone agrees on the standards—then it would be a great setup. In reality the process to get there is just incredibly, incredibly complicated. Typically, as it evolves, you end up having to coordinate everyone. And if you can coordinate everyone, then there is often a better technology to use than a blockchain. Legal Contracts Over Smart Contracts The rules of advanced, permissioned blockchains become “very, very complicated” when multiple entities need to make demands of them. Champion de Crespigny says that usually a central trusted entity is resorted to anyway, thereby defeating the purpose of “ trustless ” ledgers. He points out a known fact: centralized distributed ledgers are faster, and the reason they are faster is “because it is all built around a central controlling entity.” The obvious counter-argument is that the central entity in charge of a centralized distributed ledger becomes an attack vector. But Champion de Crespigny addresses this as well, saying: You want a blockchain when you don’t know who you can trust, because you don’t want any one party being able to arbitrarily change those things. The thing is that in the business world, we have legal contracts to do that. Perhaps the most pessimistic statement comes next: “People are now being sold a dream that a blockchain is going to be easier to do all of this, and I just don’t think that’s accurate. ” Headline Chasers and A Lack of Added Value Champion de Crispigny says that some businesses would go with a blockchain even when he bluntly told them it was unnecessary or less efficient than traditional options such as Oracle. Companies would reportedly want to explore the technology, and EY would help them do so. Then there is the hype factor – plenty of companies have dabbled in blockchain just to enter the current news cycle, which hardly does a full spin without some mention of crypto, blockchain, et cetera. As he says, “I won’t comment on specific companies, but there is a certain amount of headline chasing.” As to cryptocurrencies themselves and the persistent view of many in traditional finance – “blockchain not Bitcoin” – Champion de Crispigny believes that Westerners discount the valuable role cryptos can play in the lives of people who don’t necessarily trust their local fiat currency. Venezuela comes to mind. But as far as the blockchain fully revolutionizing every sector of business, Champion de Crispigny just doesn’t see it. “I didn’t see where private blockchains could create any value to business,” he says. Featured image from Shutterstock The post Former Ernst & Young Analyst Disillusioned by the Blockchain appeared first on CCN . || It’s a Back Foot Dollar as Sentiment towards FED Policy Shifts: Economic data released through the Asian session this morning included October current account and 3rdquarter GDP numbers out of Japan and October new home loan figures out of Australia.
For the Japanese Yen, the numbers were on the disappointing side, with the economy slowing more than had been estimated, with finalized 3rdquarter numbers showing the economy contracted by 2.5% year-on-year. Forecasts were for a 1.9% contraction following the 1stestimate 1.2% contraction.
Quarter-on-quarter, the economy shrunk by 0.6%, which was worse than a forecasted 0.5% and 1stestimate 0.3% contraction.
Japan’s current account surplus also narrowed, with the unadjusted surplus narrowing from ¥1.822tn to ¥1.310tn, coming in below a forecasted ¥1.384tn.
The Japanese Yen moved from ¥112.475 to ¥112.56 against the U.S Dollar upon release of the figures. At the time of writing, the Japanese Yen stood at ¥112.28, up 0.36% for the session, the numbers brushed aside as risk aversion returns at the start of the week.
For the Aussie Dollar, new home loans jumped by 2.2% in October, coming in well ahead of a forecasted 0.5% rise and September’s 1% fall.
According to figures released by the ABS, the number of commitments for construction of dwellings rose by 3.2% and by 2.2% for the purchase of established dwellings. Dragging on the headline figures was a fall in the number of commitments for the purchasing of new dwellings.
Based on value of dwelling commitments, loans for owner occupied housing rose by 3.5%, driving the headline figure, while loans for investment housing increased by just 0.6%.
The Aussie Dollar moved from $0.71875 to $0.72003 upon release of the figures, before rising to $0.7214 at the time of writing, a gain of 0.08% for the session.
Elsewhere,the Kiwi Dollar was also on the rise, up 0.33% to $0.6889, with the upside coming in spite of the risk off sentiment at the start of the week, with trade war jitters weighing heavily on the Asian equity markets early on, with the U.S futures pointing to a slide later in the day.
At the time of writing, the Nikkei was down 1.84%, with the ASX200 down 1.97%, while the Hang Seng and CSI300 fared better through the morning with losses of 1.37% and 0.67% respectively, the CSI300 holding up well in spite of rising tensions between China and North America.
For the EUR, economic data is limited to October trade figures out of Germany that will likely garner more attention to normal, with Germany on U.S President Trump’s hit list.
There was little talk of car tariffs last week as Germany’s car manufacturing big wigs met with the U.S administration in a bid avoid the introduction of tariffs that would come at a bad time for the EU.
China’s economy has eased back and the global economic outlook is not great and, with a possible Brexit event on the horizon, the U.S market is going to be an area of focus for the likes of VW.
On the geo-political front, the Italian coalition government may be demonstrating an early willingness to conform to the EU Commission’s requirements, though whether there is a willingness to go all the way remains to be seen, with the EU capable of turning the screw and dashing the spending hopes of the coalition.
At the time of writing, the EUR was up 0.48% to $1.1434, with today’s stats the key driver through the day.
For the Pound, it’s a busy day on the data front, with key stats scheduled for release including October industrial production and manufacturing production figures, trade data and GDP figures, with the NIESR GDP Tracker numbers due out later this afternoon.
While the numbers would traditionally have a material influence on the Pound, we would expect the Pound to show little interest in the numbers today, with focus being on tomorrow’s Brexit vote in Parliament, a rejection on the cards.
At the time of writing, the Pound was up 0.18% to $1.2749, with Brexit chatter the key driver through the day.
Across the Pond, it’s a quiet day on the data front, with key stats through the day being limited to October’s JOLTs job openings.
Following last week’s weaker than expected nonfarm payroll figures and the recent uptrend in the initial jobless claims figures released each week, the market will be looking for some decent figures for October to ease any immediate concerns over labour market conditions.
While we will expect the Dollar to respond to the numbers, Oval Office chatter and sentiment towards FED monetary policy will likely remain the key drivers, with more U.S – China rhetoric expected to continue on trade and Hua Wei CFO Meng Wanzhou’s arrest.
At the time of writing, the Dollar Spot Index was down 0.13% to 96.389.
For the Loonie, economic data is limited to housing sector numbers, with October building permit and November housing start figures scheduled for release.
Following a more dovish than normal BoC last week, we can expect some sensitivity to the numbers, though direction through the week ahead will likely boil down to market risk sentiment and how China responds to the Meng Wanzhou arrest in Canada. The Canadian government was in no position to deny the U.S request when considering the country’s trade dependencies, but Canada could face punitive consequences at a time that the BoC is already raising concerns over the economic outlook.
The Loonie was up 0.15% to C$1.3302 against the U.S Dollar at the time of writing.
Thisarticlewas originally posted on FX Empire
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• OctaFX to Launch a Free Forex Basic Course || Cryptos Fall Slightly Ahead of Bitcoin Cash Fork: Cryptos fell on Tuesday. Investing.com - Cryptocurrency prices fell on Tuesday, ahead of an upcoming split in the code of Bitcoin Cash, the fourth-largest digital asset by market cap. Bitcoin dipped 0.60% to $6,439.90 on the Bitfinex exchange as of 8:56 AM ET (13:56 GMT), while Bitcoin Cash fell 1.73% to $534.61. The digital coin is expected to hard fork, or split its code, on Thursday into two new tokens, the Bitcoin Satoshi Vision (SV) and Bitcoin ABC. Bitcoin Cash itself was created after a hard fork in Bitcoin. Cryptocurrencies overall were lower with the total coin market capitalization at $212 billion at the time of writing, compared to $213 billion on Monday. Ethereum,or Ether, decreased 1.29% to $211.12 and Litecoin was at $51.100, down 1.32%, while XRP rose 0.80% to $0.52665. In other news, cash and gold-backed digital currency X8 received Sharia certification by the Shariyah Review Bureau for Islamic investors. X8 currency is Ethereum-based and backed by eight fiat currencies and gold, aiming to “counter the inflationary headwinds experienced across the global markets.” The approval will help them expand into the Middle East market. “With the changing environment of banking and asset management primarily due to fintech-driven shifts, the market for wealth preservation in Islamic finance is poised to see disruption and it is for this reason that we are seeing an increasing demand for our product in the Islamic markets,” said Francesca Greco, X8’s director, in a statement. Related Articles New Linux-Targeting Crypto-Mining Malware Combines Hiding and Upgrading Capabilities GMO Reports $5.6 Million Q3 Loss on Crypto Mining Business What Fork? Asian Traders Are Buying Bitcoin Cash || Crypto Trading Exec: Price Slump to Continue, With Bitcoin Bottoming Out at $3,000: Michael Moro, the CEO of cryptocurrency trading companies Genesis Trading and Genesis Capital Trading, said that the Bitcoin ( BTC ) price could bottom at $3,000 in an interview with CNBC Nov. 23. Speaking on CNBC’s “Squawk Box,” Moro suggested that the leading cryptocurrency will lose another 30 percent before bottoming at $3,000. Moro said, “You really won’t find [the floor] until you kind of hit the 3K-flat level.” Moro addressed small resistance levels, saying that he does not think the BTC price can stabilize in “the mid-3s,” also noting that the $4,000 level was tested twice in the previous days. The crypto trader said that long-term investors are more poised to handle BTC’s slump and wait until the price rebounds, while at the same time advising not to buy the cryptocurrency at the dip: “This is about the fifth or sixth 75 percent-plus drawdown that we’ve seen in the 10-year history of Bitcoin. And so if you have that [long-term] lens, I don’t believe institutional investors really ultimately care where the price of Bitcoin ends in 2018, simply because they’re looking at things three to five years out.” When asked about what the low price of Bitcoin could mean for miners, Moro suggested that the cost to mine one Bitcoin will go down because “the hash rate has dropped.” The recent cryptocurrency market decline has resulted in a similar drop in mining profitability and forced Chinese operators to sell their mining devices at a loss. Some mining machines are being sold on the second-hand market for merely 5 percent of their original value. Bitcoin’s price has kept falling, along with the rest of the crypto market, since the hard fork network upgrade of Bitcoin Cash (BCH) that took place Nov. 15. Earlier this week, Lou Kerner, a partner at venture capital firm CryptoOracle, compared the current slump in crypto prices to the dotcom burst in the early 2000s. Kerner stated that strong coins should be viewed like the big companies that came out of the dotcom bubble, like Amazon. Story continues Moreover, the venture capitalist said that Bitcoin is “the greatest store of value ever created,” and will surpass gold over time. When asked what could be behind the recent slump, Kerner argued that “crypto has been so weak because [for] most of it there is no underlying value outside of confidence.” Related Articles: China: Crypto Miners Sell off Mining Devices ‘by Kilo’ Amidst Market Decline Options Are the Answer for Dealing with ‘Bearish’ Crypto Market, Trading Platform Says Amidst Recent Market Crash, Susquehanna ‘Crypto King’ Emphasizes Crypto Is a ‘Long Game’ Italian Securities Watchdog Orders Unauthorized Crypto Companies to Cease and Desist || British Politician: Printing Fiat Money is Counterfeiting, Merit of Crypto: At aEuropean Parliament meeting in 2013, British politician Godfrey William Bloom said that all major banks are broke and criticized the ability of banks to lend money they do not have, which is not possible with decentralized currencies like crypto.
At the time, Bloom stated that the ability of central banks to print and distribute artificially created money by way of quantitative easing, or printing of new money, has led to a creation of a heavily manipulated financial system.
“It is my opinion that you do not really understand the concept of banking. All the banks are broke. Bank Santander, Deutsche Bank, Royal Bank of Scotland, they’re all broke. Why are they broke? It isn’t an act of god. They’re broke because we have a system called fractional reserve banking. Which means, the banks lend money they don’t actually have. It’s a criminal scandal, and it’s been going on for too long.”
Just a little more than five years ago,Bitcoin, the most dominant cryptocurrency in the global market, wasvaluedat less than $100. At the time, due to the lack of usage of Bitcoin and cryptocurrencies in general, there were no viable alternatives to cash or fiat money that businesses and individuals could rely on.
Politicians including Godfrey Bloom expressed serious concerns towards quantitative easing, a system of printing new cash, as it provided central banks significant leverage over the economy and the global financial system.
He emphasized that both fractional reserve banking and quantitative easing are criminal operations which if done by any regular business or individual is considered unlawful.
“To add to that problem, you have moral hazard. A very significant moral hazard from the political sphere. Most of the problems start in politics and central banks, which are part of the same political system. We have counterfeiting, sometimes called quantitative easing, but counterfeiting by any other name, the artificial printing of money, which if any regular person did, they would be in prison for a very long time. Yet, governments do it all the time. Central banks repress the amount of interest rates, so we do not have the real cost of money.”
As seen in theisolation of Iranfrom the global banking system calledSWIFTby the US, when central banks have absolute control over the world’s financial network, then it becomes possible for several dominant economies to censor payments.
Professor Steve Keen, an economist at Kingston University,said, “the USA is big enough to bully what should be an impartial means for monetary transactions between countries. This should not be possible.”
Through the form of crypto, an alternative system to the global banking system and central banks has become available to individuals, organizations, and governments, and several countries including Iran have started toexploreways to utilize decentralized systems to process cross-border transactions.
Already, major banks likeDeutsche Bankhave begun to struggle with their finances, and some countries have opted to test cryptocurrencies as an alternative to central bank-controlled fiat currencies.
In the long-term, if Europe and other regions pursue with their pending plans to create several financial networks independent of the US, the transition could naturally lead to consensus currencies like crypto.
Featured Image from OxfordUnion/YouTube
The postBritish Politician: Printing Fiat Money is Counterfeiting, Merit of Cryptoappeared first onCCN. || Coinsource Receives BitLicense to Operate Bitcoin ATMs in New York: Bitcoin ATM Operator Coinsource has been granted a BitLicense by the New York Department of Financial Services (NYDFS).
Based in Texas, Coinsourcedeploys Bitcoin ATMsto key population centers across the world with over 200 machines installed in the U.S. alone.
CEO of Coinsource Sheffield Clark called the announcement a “landmark day for Coinsource" and an "important win for New Yorkers" in a statement.
In an interview withBitcoin Magazine, Clark noted that he sees the "license as validation of not only our tireless efforts to offer Americans easy, convenient access to an evolving global financial system, but also progress in the acceptance and legitimization of bitcoin as a valuable currency."
The virtual currency license from the NYDFS will allow Coinsource to conduct business with customers and companies based in the state. Additionally, New York-based businesses will also be able to use Coinsource's ATM kiosks to buy and sell bitcoins instantly.
Formulatedin 2015, BitLicense approvals have been among the most difficult credentials to procure for virtual currency businesses seeking to operate in New York. The set of rules was developed by the New York Department of Financial Services to govern digital currency businesses operating in the state.
CoinSource becomes the first Bitcoin ATM operator and the 12th company overall to receive a BitLicense from the New York regulator, joining other crypto-related businesses such as Genesis, Square,Coinbase,bitFlyer,Circleand others.
Before receiving its BitLicense, Coinsource had operated under a special DFS provisional license in the state.
According to Clark, the license took over three years to obtain; Coinsource had applied for it back in August 2015. Having now received it, Clark says the company feels excited to have been granted such a "prestigious license."
"We are extremely honored to receive this recognition from the state of New York and applaud the state for its dedication to ensuring cryptocurrency companies are regulated appropriately."
He also spoke about the growth in the demand for Bitcoin ATMs in the country, which he noted surpassed the expectations of the firm. Notwithstanding, the ATM operator's immediate focus is to grow domestically as it expands its presence to all the 50 states in America.
"Aligning with blockchain’s decentralized nature, Coinsource focuses on allowing any person, no matter what their socio-economic status is, technological know-how, or where they are based, access to our generation’s most important innovation," he concluded.
This article originally appeared onBitcoin Magazine.
[Random Sample of Social Media Buzz (last 60 days)]
*Small money enters my account*
My Brain:
Don't do it
Don't do it
Don't do it
Don't do it
Don't do it
Don't do it
Me: Buys Bitcoin pic.twitter.com/JdXwDGxd3c || 11/10 06:00現在
#Bitcoin : 708,335円↓
#NEM #XEM : 10.4551円↑
#Monacoin : 134円→
#Ethereum : 23,695円→
#Zaif : 0.233円↓ || U.S. Government Links Digital Currency-Addresses To Sanctioned Iranians - https://goo.gl/dT6sBb
#Bitcoin #Crypto #News #Blockchainpic.twitter.com/Y5cZG0Kk7E || 1 BTC Price: Bitstamp 4204.56 USD Coinbase 4202.00 USD #btc #bitcoin 2018-11-28 17:30 pic.twitter.com/coFScts4mR || 11/13 21:00現在
#Bitcoin : 710,960円↑
#NEM #XEM : 12.698円↓
#Monacoin : 134円→
#Ethereum : 23,500円↑
#Zaif : 0.2129円↓ || ツイート数の多かった仮想通貨
1位 $TRX 1179 Tweets
2位 $BTC 564 Tweets
3位 $XRP 134 Tweets
4位 $ETH 91 Tweets
5位 $PURA 70 Tweets
2018-12-06 22:00 ～ 2018-12-06 22:59
COINTREND いまTwitterで話題の仮想通貨を探せ！
https://cointrend.jp/ || Market Cap: $101,202,523,604
BTC Dominance: 55.24%
BTC: $3209.99155215
XRP: 0.00008917 BTC
ETH: 0.02606532 BTC
USDT: 0.00031333 BTC
XLM: 0.00002997 BTC
15.12.2018 00:43:23
Powered by #Robostopia || Its 30 minutes past the hour time to beg mrbeastyt for a bitcoin pic.twitter.com/X0AbEZVyQw || RT @Crypto__AI: The Key to Staying Profitable When Mining Revealed by Software Startup http://dlvr.it/QsPJPh #Bitcoin #Mining $Cryptopic.twitter.com/l7AzMa3fPG || ツイート数の多かった仮想通貨
1位 $BTC 576 Tweets
2位 $XRP 358 Tweets
3位 $TRX 94 Tweets
4位 $ETH 59 Tweets
5位 $LTC 41 Tweets
2018-10-24 06:00 ～ 2018-10-24 06:59
COINTREND いまTwitterで話題の仮想通貨を探せ！
https://cointrend.jp/
|
Trend: up || Prices: 3545.86, 3696.06, 3745.95, 4134.44, 3896.54, 4014.18, 3998.98, 4078.60, 3815.49, 3857.30
|
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)]
The Crypto Daily – Movers and Shakers – January 23rd, 2021: Bitcoin , BTC to USD, rallied by 7.02% on Friday. Partially reversing Thursday’s 13.06% tumble, Bitcoin ended the day at $33,058.0. It was a bearish start to the day. Bitcoin slid to an early morning intraday low $28,989.0 before making a move. Coming within range of the first major support level at $28,840, Bitcoin rallied to a late intraday high $33,850.0. While falling short of the first major resistance level at $34,260, Bitcoin broke through the 23.6% FIB of $33,008. A late pullback saw Bitcoin fall back through the 23.6% FIB of $33,008 before wrapping up the day at $33,050 levels. The near-term bullish trend remained intact, in spite of the latest sell-off. For the bears, Bitcoin would need to slide through the 62% FIB of $18,504 to form a near-term bearish trend. The Rest of the Pack Across the rest of the majors, it was a mixed day on Friday. Crypto.com Coin fell by 0.27% to buck the trend on the day. It was a particularly bullish day for the rest of the majors, however. Chainlink surged by 17.19% to lead the way, with Cardano’s ADA (+13.60%), and Ethereum (+11.07%) close behind. Binance Coin (+6.02%) and Litecoin (+6.26%) also made solid gains. Bitcoin Cash SV , (+2.42%), Polkadot (+0.25%) and Ripple’s XRP (+1.80%) trailed the front runners, however. In the current week, the crypto total market cap rose to a Tuesday high $1,080.72bn before sliding to an early Friday low $812.79bn. At the time of writing, the total market cap stood at $926.91bn. Bitcoin’s dominance rose to a Monday high 67.47% before falling to a Friday low 64.63%. At the time of writing, Bitcoin’s dominance stood at 65.20%. This Morning At the time of writing, Bitcoin was down by 1.28% to $32,634.0. A bearish start to the day saw Bitcoin fall from an early morning high $33,036.0 to a low $32,472.0. While leaving the major support and resistance levels untested, Bitcoin fell through the 23.6% FIB of $33,008. Elsewhere, it was a mixed start to the day. Bitcoin Cash SV and Ripple’s XRP were up by 0.76% and by 0.07% to buck the trend early on. Story continues It was a bearish start for the rest of the majors, however. At the time of writing, Binance Coin was down by 1.47% to lead the way down. For the Bitcoin Day Ahead Bitcoin would need to avoid a fall through the pivot level at $31,966 to bring the 23.6% FIB of $33,008 and the first major resistance level at $34,942 into play. Support from the broader market would be needed for Bitcoin to break out from Friday’s high $33,850.0. Barring an extended crypto rally, first major resistance level and resistance at $35,000 would likely cap any upside. In the event of an extended crypto rally, Bitcoin could test resistance at $37,000 before any pullback. The second major resistance level sits at $36,827. Failure to avoid a fall through the $31,966 pivot would bring the first major support level at $30,081 into play. Barring another extended crypto sell-off, Bitcoin should steer clear of sub-$28,000 levels and the 38.2% FIB of $27,465. The second major support level sits at $27,105. This article was originally posted on FX Empire More From FXEMPIRE: Silver Price Forecast -Silver Markets Bounce From 50 Day EMA Price of Gold Fundamental Daily Forecast – Mixed External Signals Keeping Lid on Prices The Crypto Daily – Movers and Shakers – January 23rd, 2021 Natural Gas Price Prediction – Prices Slip Despite Large Inventory Draw S&P 500 Weekly Price Forecast – Stock Markets Continue to Look Bullish Crude Oil Price Forecast – Crude Oil Markets Undulate on Friday || ISW Holdings Shareholder Roundtable Q&A Transcript: LAS VEGAS, Jan. 20, 2021 (GLOBE NEWSWIRE) -- viaNewMediaWire-- ISW Holdings, Inc. (OTC: ISWH) (“ISW Holdings” or the “Company”), a global brand management holdings company, is pleased to provide a text version of its Shareholder Roundtable conference call following technical problems.
The following are actual questions asked by current or prospective ISW Holdings investors, with answers provided by the Company’s President and Chairman, Alonzo Pierce.
Question: "Can you make a case for your company being an investment vs. a day trade and plans for a run to NASDAQ?"
Pierce: Our goal is to become a NASDAQ traded company. Our first stop will be an uplist to the OTCQB. We have made incredible strides over the past 18 months, demonstrating strong commercial growth in our Telehealth and Home Healthcare segment while investing in a diversified growth model and preparing to commercially launch our Cryptocurrency segment following assembly and activation of our first state-of-the-art mining Pod. We would like to see our market value continue to build significantly before moving to the NASDAQ. With the Telehealth and Crypto sectors booming, we believe ISWH offers strong value.
Question: "What does the crypto mining industry look like 5 and 10 years down the road?"
Pierce: Considering the issues that surround politics, U.S. and world debt, the reliance on the U.S. dollar as base for trade (Oil, for example), the dwindling popularity of a gold-based standard, the increasing legitimacy of Bitcoin among institutional investment managers and major corporations, and for many other reasons, the future looks strong and long for the crypto mining industry. Various sectors, like alternative energy and renewable energy, could be game changers for companies that mine in those arenas.
Question: “When will the first bitcoin mining Pod become operational? How many additional Pods will be produced and become operational this year?”
Pierce: The final steps are being taken to have our first pod operational by the beginning of February. We are working with electricians and contractors to get power to the Pod and it is about a 3-week process that started last week. The goal is to have 10 Pods operating by the end of the year, but this will be our only Pod in operation to start. I am very pleased to announce that the production of the next 4 Pods will be a few months ahead of schedule and we are very proud of that.
Question: "Is ISWH late to the ‘Crypto Party’ and how will it compete with top miners?"
Pierce: The plain and simple answer is we are right on time. When it comes to technology, you just know there are going to be varying stages of evolution. Just take a look at smart watches and smart phones. Our first POD will utilize the latest mining technology and received a 1.06 efficiency score which puts it in the upper echelon of mining equipment in the industry.
Question: "What are your long-term strategies to grow Telehealth and what are the biggest business risks?"
Pierce: My Vision for the Future is to have this company constantly evolving and on the cutting edge of technology. I will run this company under the mantra, “What Can Be.” That being said, my ultimate goal is to increase profit margins through efficiency and eventual expansion via acquisitions which will subsequently increase shareholder value for the investors in this company. Although ISWH is very successful in the home health care Industry and will continue to be, expect the company to be on the forefront of innovation …in and beyond the Telehealth space. ISWH will continue to seek out acquisitions and joint ventures that will drive revenue and support operations. The biggest risk the company faces is for management to become complacent and stagnate in our thinking and I can promise you - THAT WILL NOT HAPPEN.
Question: "What is the target date for your uplist efforts?"
Pierce: For those who do not know how the process works, I will break it down. First, after a company completes the audit of its financials, the company fills out and submits an application to OTC, which we have already done. It is reviewed by the issuance and compliance people at OTC. If the application is done thoroughly, as ISWH’s was, there will not be any requests for additional information. We did not get a request for clarifications or additional information. Next, OTC sends a request for company officer information to do background checks, which we have already received… and that is where we are in the process. The whole process takes about 30-45 days. So, while I can’t give you an exact answer, that should give you a rough sense of the time table.
Question: "When are you going to announce bringing on key talent for whom you set aside 5 million in stock options?"
Pierce: This is a process. The most important part of acquiring people of this nature is that you are not only in search of qualified individuals but those who show passion for the vision of where this company is going. I get tons of resumes by US mail and by email. I am looking for that person who not only has the right credentials, but also has the intangibles and the ability to trailblaze, to disrupt the norms and see a future that a paycheck-chaser may not see. I am not going to rush this process, so it is difficult to put a timeline on it. When I sit down at the interview table and I have that person in front me that shows they are the right fit, I will hire them on the spot.
Question: "Has the increase in demand for Bitcoin driven the company to push ahead with plans faster than expected and what are the long-term benefits of converting cash into Bitcoin?"
Pierce: Of course. The great part is this: we made significant investments in our mining pod and partnered with Bit5ive before Bitcoin took off, which means we were able to step up our pace and get things going on the ground much faster once we saw it break out. As for our process of diversifying our cash into Bitcoin, we believe in the future of Bitcoin and digital payment systems, and we see cash as a largely unproductive asset on a long time horizon given the degree of monetary expansion, stimulus, and debt dragging down traditional currency systems. And those trends appear, based on our analysis, to be far more important than volatility factors for shareholder value over the long-term.
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 || Bitcoin Price Briefly Revisits $40,000 as Bulls Pare Week’s Losses: Bitcoin briefly broke above $40,000 again Thursday morning as the market reversed the bulk of its losses from Monday.
• The leading cryptocurrency rose to $40,066.32 before settling back to $39,521.46, up 14.25% in the past 24 hours, per CoinDesk’s Bitcoin Price Index (BPI).
• Over the weekend and into early Monday morning,bitcoindipped nearly 30% from its peak just below $42,000. The move prompted CNN Business writer Paul La Monica todeclarebitcoin in a bear market.
• With the downturn seemingly over, other cryptocurrencies are following bitcoin, withetherreclaiming $1,200, up 13%.
• Polkadot has gained 21% andlitecoinis up 11% in the past 24 hours, per market data fromMessari.
• Bitcoin Price Briefly Revisits $40,000 as Bulls Pare Week’s Losses
• Bitcoin Price Briefly Revisits $40,000 as Bulls Pare Week’s Losses
• Bitcoin Price Briefly Revisits $40,000 as Bulls Pare Week’s Losses
• Bitcoin Price Briefly Revisits $40,000 as Bulls Pare Week’s Losses || CEX, Lies and Videotape: Binance Accuses Rivals of Fighting Dirty: While many U.S. crypto exchanges are using the latest bull run to spruce themselves up in hopes of impressing institutional investors and regulators, China’s so-called “Big Three” centralized crypto exchanges (CEX) – Binance, Huobi and OKEx – are slinging mud at each other.
The latest flap is over a bogus video that purports to show a single sell order of 21 millionbitcoinon Binance on Jan. 4. The clip went viral last week on WeChat, a popular China-based social media platform.
The video, viewed by CoinDesk, claims that bitcoin’s price took a hit after the order was completed. Screenshots in a WeChat group’s chats show that some users appear to be furious, accusing Binance of “market manipulation.”
Related:Ledger Adds Bitcoin Bounty and New Data Security After Hack
The angry reactions ignored the fact that the 21 million number alludes to the total amount of bitcoin that will ever be mined, sometime by the year 2140 (bitcoin’s total supply currently stands at 18.6 million). So clearly 21 million bitcoin could not have been sold. Besides, most major exchanges’ bitcoin reserve data are available to trace.
But because we’re nothing if not thorough, CoinDesk confirmed with several on-chain data firms, including CipherTrace and CryptoQuant, that no orders of that size were placed on Binance at the time the video purports to show.
A Binance executive spoke out about the video on WeChat, throwing shade at unnamed “competitors” he claimed were behind the video.
The video “could not be more fake,” Yi He, co-founder and chief marketing officer of Binance, wrote in Chinese on WeChat. “I was not going to respond because I thought nobody was going to believe it, but considering how ‘hard-working’ our competitors were to post it on every group chat, I just wanted to express my appreciation.”
Related:First Mover: Don't Like $34K Bitcoin? Stellar, Litecoin Yet to Conquer Old Highs
As of press time, Binance did not respond to CoinDesk’s requests for comment.
If you looked at English-language social media platforms, you would think the three China-originated centralized crypto exchanges coexist in peace and harmony. But a survey of Chinese-language platforms reveal a differing dynamic. Screenshots of chats and public posts on WeChat and other popular Chinese social media platforms such as Weibo show multiple disputes among the three exchanges over the past several years. This is not the first time Binance’s He has confronted executives from rivals OKEx and Huobi on social media.
He’s accusations notwithstanding, both Huobi and OKEx denied responsibility for the latest incident. Ciara Sun, vice president of global business at Huobi Group, denied Huobi was involved in “the creation of the video,” and told CoinDesk the video “falsely” recorded a sell order on Binance’s platform.
“As a global financial organization that adheres to both ethical and regulatory standards, we value honesty and transparency within our organization and do not rely on misleading marketing tactics that would erode the trust of our community,” Sun said.
Likewise, OKEx CEO Jay Hao told CoinDesk that crypto exchanges are often the victims of false accusations of “price manipulation.”
“Anyone with knowledge of this industry would immediately be able to dismiss a photo like this, but it’s unfortunate that some investors still suffer from these types of groundless and fictitious accusations,” Hao said.
Normal business competition, centered on capturing market share in China, is only one part of the tensions involving the three exchanges. These hard feelings go back at least four years, when OKCoin’s then-CTO, Changpeng Zhao, and co-founder Yi He left what was at the time the largest Chinese crypto-to-fiat exchange to start Binance, according to Colin Wu, a China-based crypto writer who previously worked in the country’s crypto mining industry.
Meanwhile, OKCoin, along with other China-based bitcoin trading platforms, closed their trading operations in the country and moved offshore after Chinese regulators banned initial coin offerings in late 2017. OKEx has worked as a separate entity from its parent company OK Group or OKCoin since 2017, a spokesperson told CoinDesk previously. OKCoin now is a San Francisco-based crypto exchange,led by Chief Executive Hong Fang.
Huobi joined the fray slightly later and friction among the three exchanges reallyintensified after each launched crypto derivatives products.OKEx currently is the second-biggest derivatives exchange by bitcoin open interest, followed by Binance and Huobi. (The CME is the largest thanks to growing interest from institutional investors in the U.S.)
Several sources, who agreed to speak on the subject anonymously due to close business relationships with the three exchanges, told CoinDesk that as the competition heats up again there may be an uptick in tricks and false information such as the fake Binance video. In turn it can cause a lot of “fear, uncertainty and doubt” (FUD) among retail traders and investors in China, especially those who are relatively new to the market.
“The video came out at a time when retail sentiment was at the peak,” one source said. “When people are scared of the top, they could be easily aroused by anything like this.”
“No matter how much the cryptocurrency space has matured, there will always be interested parties from without who leap at the chance to cause FUD amongst traders,” OKEx’s Hao said.
• CEX, Lies and Videotape: Binance Accuses Rivals of Fighting Dirty
• CEX, Lies and Videotape: Binance Accuses Rivals of Fighting Dirty || Bitcoin Briefly Dips Below $30K, Dollar Bounces Ahead of Fed Reserve Rate Announcement: Bitcoin and global equities are trading lower, while the anti-risk U.S. dollar is climbing ahead of a U.S. Federal Reserve meeting later today that may inject volatility into financial markets.
The number one cryptocurrency by market value briefly traded as low as $29,452.79 before rebounding to as high as $30,996.65 [updated] at press time, representing a near 4.5% drop on the day, according toCoinDesk 20data. European stocks and futures tied to the S&P 500 are flashing moderate losses. The Dollar Index, which tracks the greenback’s value against major fiat currencies, is hovering near 90.40, representing a 0.3% gain.
The Fed Reserveis expectedto leave the interest rate unchanged near zero and maintain its liquidity-boosting, bond-purchasing plan at around $120 billion/month. If so, the status-quo decision would be unlikely to elicit much of a reaction from the markets, bitcoin’s included.
Related:Bitcoin ‘Underperforms’ During Tax Time: Analysis
However, stocks and bitcoin would drop and the dollar likely draw bids, if Fed Chairman Jerome Powell drops hints of a gradual unwinding of stimulus programs.
See also:How Bitcoiners Should Watch the US Federal Reserve Meeting on Wednesday
“BTC may face selling pressure if Powell signals an early taper,” Darius Sit, co-founder and managing partner at Singapore-based QCP Capital, told CoinDesk. Bitcoin, considered by many a hedge against monetary and fiscal imprudence, has moved largely in opposition to the dollar index since the March markets crash.
Some may anticipate an early exit from stimulus, given that market-based measures of long-term inflation expectations haverecently risenabove the Fed’s 2% target, while the U.S. and the global economy is now seen to berecoveringat faster rate.
Related:Market Wrap: Bitcoin Drops to $29.9K While DeFi Hits Record $29B Locked
However, most observes, including QCP Capital’s Sit, don’t expect Powell to rock the boat. The Fed made it clear in August it intends to keep interest rates low for some time even after inflation climbs above 2%.
According toFXStreet’s Yohay Elam, Powell may indirectly signal a willingness to buy more bonds by calling for increased fiscal (government) spending, in which case inflation hedges like bitcoin and gold could shine.
U.S. President Joe Biden is pushing for a $1.9 trillion stimulus package, and the government needs to find funding for this extra debt,as noted byElam.
The pandemic-era central bank stimulushas createdexuberance across various asset classes, including bitcoin. In particular, stock markets are looking frothy, with some technology shares,such as GameStop, witnessing a retail frenzy.
As such, Powell may attempt to calm the markets. “Any hint that the Fed is unwilling to continue printing money in fear of bubbles would send [markets] down,” Elam noted.
Bitcoin is currently trading in a $30,000–$35,000 range established over the past four days, having dipped below $29,000 on Friday. Analystsforeseefurther sell-off on signs of weaker institutional demand.
“Bitcoin has been trading in a tight consolidation for the past six days, with several failures to close above $32,500,” Matthew Dibb, COO and co-founder of Stack Funds, told CoinDesk. “From a technical analysis point of view, it is consistently making lower highs. The short-term momentum indicates a possible slide to $26,000.”
See also:GameStop Investing Craze ‘Proof of Concept’ for Bitcoin Success, Says Scaramucci
• Bitcoin Briefly Dips Below $30K, Dollar Bounces Ahead of Fed Reserve Rate Announcement
• Bitcoin Briefly Dips Below $30K, Dollar Bounces Ahead of Fed Reserve Rate Announcement || CleanSpark Announces Enhancements to mVSO Energy Modeling Software: SALT LAKE CITY, Jan. 26, 2021 (GLOBE NEWSWIRE) -- CleanSpark, Inc. (Nasdaq: CLSK), (“CleanSpark, or the Company”), an advanced software and controls technology solutions company focused on solving modern energy challenges, today announced a release upgrade to its mVSO, microgrid Value Stream Optimizer. mVSO is CleanSpark’s microgrid planning and proposal software for energy, solar, and storage developers as well as EPC firms (Engineering, Procurement and Construction).
The latest release to mVSO includes significant enhancements to all customer-facing reports and financial analyses. Report interfaces have been redesigned from the ground-up to provide clear, concise, and compelling graphics and tables to help project developers collaborate with their customers to identify the optimal solution to meet their needs. From top-level financial metrics across a 20-year project lifetime to sample operational charts with 15-minute resolution, every aspect of the proposed microgrid is described and explained in terms the most non-technical customer can understand. These clearly defined outcomes are an invaluable tool in growing the sales channels for all types of energy providers, especially with the recent impetus on expansion of renewable energy initiatives under the new Administration.
mVSO can now seamlessly ingest outputs from a variety of other renewable energy related software, including Helioscope, PVSyst, and PVWatts modeling systems. The software continues to accept custom rate structures as well as hourly interval data in simple Excel and CSV file formats.
CleanSpark Chief Technology Officer, Amanda Kabak said, “We made these significant improvements not only based on feedback from our current users, but also on our own modeling experience during direct sales of our mPulse controller. We have crafted the outputs to accurately tell a story that addresses capital expenditure and return, utility consumption, detailed savings breakdown, and the interplay of the different distributed energy resources within the microgrid itself.”
Kabak added, “In addition to improved reporting, mVSO now supports integrating with externally modeled solar data. This request arose from current and potential customers to expand their offering processes. Many of our mVSO customers are experienced solar project developers having numerous existing—and complementary—tools at their disposal.”
Parties interested in learning more about CleanSpark products and services are encouraged to inquire by contacting the Company directly at [email protected] or visiting the Company’s website atwww.cleanspark.com.
Investors are encouraged to contact the Company at [email protected] or visiting the Company’s website athttps://ir.cleanspark.com/
About CleanSpark:
CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software and controls technology solutions to solve modern energy challenges. We have a suite of software solutions that provide end-to-end microgrid energy modeling, energy market communications, and energy management solutions. Our offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering, and software consulting services.
Through its wholly owned subsidiary ATL Data Centers LLC, CleanSpark owns and operates a data center that provides customers with traditional on-site and cloud-based data center services. The Company also owns and operates a fleet of over 3,400 ASIC (application-specific integrated circuit) Bitcoin miners producing over 200 PH/s in mining capacity. Capacity is expected to increase to over 300 PH/s in mining capacity in early 2021. CleanSpark plans to apply its technologies with a goal of mining bitcoins at the lowest energy prices in the United States. For more information, visithttps://ATL-DATA.com
Forward-Looking Statements:
CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on CleanSpark's current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation the successful deployment of our energy solutions, the fitness of our energy software and solutions for this particular application or market, the expectations of future revenue growth may not be realized, ongoing demand for our software products and related services, the impact of global pandemics (including COVID-19) on the demand for our products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
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CONTACT: Investor Relations CleanSpark, Inc. (801)-244-4405 [email protected] || Large Bitcoin Options Positions May Boost Price Volatility This Week: Bitcoin’s options market continues to grow along with an institutional-led bull run in the leading cryptocurrency. Yet, while many use options to hedge their positions, the large amounts of bitcoin options slated to expire in a few days may themselves lead to wild price swings as January draws to a close. At press time, there are 120,300 contracts worth $4 billion set to expire this Friday on major exchanges Deribit, CME, Bakkt, OKEx, LedgerX, according to data source Skew. Much of that amount can be found on Deribit, the world’s largest crypto options exchange by trading volume. It is on track to register a record monthly bitcoin options expiry of 102,162 contracts (nearly $3.5 billion). A call option gives the holder the right but not the obligation to buy the underlying at a predetermined price on or before a specific date; a put option represents a right to sell. An out-of-the-money (OTM) call is the one with the strike price higher than the spot price. As of press time, call options at strike prices above the current spot price of $34,500 are OTM. Meanwhile, put options at strikes below the spot price are OTM as well. Market makers may inject volatility Related: What Is Guggenheim Partners? Option expiries seldom have a direct impact on the spot price. However, when open interest is concentrated in out-of-the-money (OTM) call and put options, which is the case with bitcoin, a sudden pre-expiry move forces market makers to hedge with the underlying asset. That leads to more significant price turbulence. Over 80% of the Deribit-based Jan. 29 expiry open interest is set to expire out-of-the-money, or worthless. Notably, more than 52,600 call option contracts and 29,800 put option contracts are currently OTM, as noted by Swiss-based data provider Laevitas. See also: Trading Hall of Fame: The Bitcoin Options Bet That Made $58.2M Profit on Just $638K “If BTC rapidly jumps to all-time highs within the next few days, it’s expected market makers will aggressively hedge their out-of-the-money short call option exposures, which would likely increase overall market volatility and momentum in the underlying price,” Samneet Chepal, quantitative analyst at the quantitative and systematic digital asset investment firm Ledger Prime, told CoinDesk. Story continues Related: Market Wrap: Bitcoin Hits $34.8K While Ether Volatility Skyrockets Market makers are individuals or member firms of an exchange that create liquidity in the market and take the opposite side of the transaction initiated by traders/investors. Given the recent strong bullish sentiment and massive buying in higher strike, out-of-the-money call options, market makers across the board are likely to be net short gamma (call sellers), according to Chepal. Options gamma is the rate that delta will change based on a $1 change in bitcoin’s price. Delta measures the sensitivity of options prices to the changes in the spot market price. Being short gamma means being an option writer (seller) regardless of whether call or put. In this case, market makers are short gamma due to call selling. That makes them vulnerable to a sudden move to the higher side. Therefore, if bitcoin rallies while heading into Friday’s expiry, the market makers may aggressively hedge their OTM short call exposure by taking a long position in the spot market, leading to heightened price volatility and stronger bull momentum. The market makers will likely spring into action if bitcoin jumps to all-time highs above $42,000 ahead of Friday, as most open interest is concentrated in higher strike price calls. “A massive chunk of open interest is in deeper OTM call strikes above $44,000,” Chepal said. Data provided by analytics platform Genesis Volatility shows the largest concentration of open interest is in the $52,000 call. Delta hedging “In an attempt to protect against an out-of-the-money result, options traders may likely resort to delta hedging strategies,” Sui Chung, CEO of CF Benchmarks, told CoinDesk. Delta hedging, or delta-neutral, comprises multiple positions (long and shorts, call/puts) aimed at reducing, hedging the directional risk associated with price movements in the underlying asset. For instance, the delta of the $40,000 call expiring on Jan. 29 is currently 0.10. That means the option’s price will change by $0.10 for every $1 change in bitcoin’s price. See also: Bitcoin Bounces as Options Market Sees 20% Chance of $50K at Month’s End Another way to look at it is that investors currently holding a long call position with a strike at $40,000 have a BTC 0.10 delta exposure. To hedge against the exposure, traders can short sell BTC 0.10 in the spot or futures market or else buy a put option with a 0.10 delta. Option traders generally hedge delta with options. However, in particularly fraught times they could also resort to hedging with the underlying asset itself, leading to heightened price volatility, according to Chung. “This can create a vicious cycle, with increased volatility leading to even more derivatives traders rushing to the same hedging strategies, which ends up having the same effect as pouring oil on an open fire,” Chung said. Bitcoin is currently trading near $34,100, having put in lows below $29,000 last week, according to CoinDesk 20 data. As long as these options remain open in the market, the next couple of days could be interesting – and perhaps volatile – for bitcoin. Related Stories Large Bitcoin Options Positions May Boost Price Volatility This Week Large Bitcoin Options Positions May Boost Price Volatility This Week || Will Bitcoin 'Rise 50% And Possibly Double' In 2021? These Pros Think So: Bitcoin gained another 13.1% in the past 24 hours and was trading above $23,500 for the first time in history on Thursday morning. Thebitcoinrally has triggered a wave of new bullish bitcoin targets on Wall Street, and deVere Group is now calling for at least 50% more upside in 2021.
deVere Group founder and CEO Nigel Green said he doesn’t believe 2021 will be a repeat of 2018.
“Inevitably, we will soon see some pullback on prices and more volatility as traders sell Bitcoin at record high prices,” Green said.
Related Link:Bitcoin Crosses K For The First Time. Is This Rally A Repeat Of 2017?
He noted that this profit-taking is a natural and healthy part of any bull market and can serve as attractive entry points for long-term investors.
“Indeed, it could prove to be particularly beneficial as Bitcoin is, I believe, likely to have another record-breaking year in 2021, with prices expected to rise 50% and possibly double with its current momentum,” Green said.
Based on his comments, Green is anticipating bitcoin prices will reach somewhere between around $30,000 and $40,000 within the next 12 months.
Debate Rages On:While that target may seem overly optimistic given that bitcoin has already rallied 228% in the past year, Green is far from the most bullish bitcoin analyst. On Wednesday, Guggenheim CIO Scott Minerdtold Bloomberghe believes bitcoin “should be worth around $400,000.”
Bitcoin is one of the most polarizing topics on Wall Street, with many bulls seeing nearly unlimited upside and bears viewing the cryptocurrency as virtually worthless. Wall Street investing legend and bitcoin bear Warren Buffett has referredto bitcoinas a “mirage” and “rat poison squared.”
Green disagrees.
“Of course, there will be market ups and downs, but let there be no doubt: the longer-term price trajectory for Bitcoin is upwards,” he said.
Following Thursday’s gain, theGrayscale Bitcoin Trust(OTC:GBTC) is now up 215.1% year-to-date.
Benzinga’s Take:A key driver of the bitcoin rally is concerns over the negative impact unprecedented government stimulus spending could have on the dollar.
A cryptocurrency’s supply is fixed, it doesn’t have the intrinsic value of a share of stock or a plot of real estate, and it doesn’t have the yield of a bond or certificate of deposit. Therefore, the prices of cryptocurrencies in the long term will be determined only by changes in long-term demand from investors and users.
Latest Ratings for GBTC
[{"Feb 2018": "Jul 2015", "Buckingham": "Wedbush", "Initiates Coverage On": "Initiates Coverage on", "": "", "Sell": "Outperform"}]
View More Analyst Ratings for GBTCView the Latest Analyst Ratings
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• Bitcoin Crosses K For The First Time. Is This Rally A Repeat Of 2017?
• Millennials Are Twice As Likely To Buy Bitcoin Than Gold As Safe-Haven Investment
© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Hong Kong-Listed BC Group Raises $90M as Institutional Crypto Demand Soars in Asia: Hong Kong Stock Exchange-listed BC Technology Group, the parent company of regulated crypto platform OSL, has raised HKD697 million (approximately US$90 million) in the form of a top-up share placement.
Morgan Stanley was appointed as the sole placing agent of some 45,000,000 placing shares owned by the firm, representing approximately13% of BC Group’s issued share capital.
2020 was a busy year for OSL, an institution-focused digital asset platform based in Hong Kong, providing prime brokerage, custody, exchange and software-as-a-service (SaaS). The companyattained regulatory approvalto offer crypto services from the Hong Kong regulator, the Securities and Futures Commission (SFC), and also said it was providing technology to Singapore’s DBS bank, which announced its entrance into the digital asset space last month.
Related:Bitcoin Trader Robbed and Pushed Out of Car in Hong Kong
BC Group CEO Hugh Madden said the raised funds will help meet rocketing institutional trading demand and bolster its software-as-a-service business.
“We’ve been quite successful with our institutional software as a service business,” said Madden in an interview. “Additionally, we need to bolster our financial reserves under our licensing arrangements, which is similar to capital adequacy in the banking world. This allows us to continue to scale, as this new institutional business flow really starts to flood in.”
BC Group has also earned its regulatory standing thanks to having been a driving force behind theTravel Rule Protocol (TRP), a Financial Action Task Force (FATF) “Travel Rule” solution for crypto led by Dutch lender ING and Standard Chartered Bank, and including Fidelity Digital assets and BitGo.
• Hong Kong-Listed BC Group Raises $90M as Institutional Crypto Demand Soars in Asia
• Hong Kong-Listed BC Group Raises $90M as Institutional Crypto Demand Soars in Asia
• Hong Kong-Listed BC Group Raises $90M as Institutional Crypto Demand Soars in Asia || Bitcoin’s Massive Swings Give Pause to CFOs Mulling Reserve Investment: Bloomberg: Wall Street chief financial officers (CFO) are more wary of putting company funds into bitcoin after last week’s 30% price plunge, Bloomberg reports.
Publicly traded companies such asMicroStrategyandSquare Inc.have invested millions of dollars of company cash reserves inbitcoinduring 2020. Other firms followed suit including insurance giantsRuffersandMassMutual.
But given the return of bitcoin’s infamous price volatility – which saw the largest cryptocurrency’s price drop thousands below its peak of$41,900 set on Jan.– the attraction of that strategy may have lessened, according to company executives Bloomberg spoke with. Bitcoin has since recovered some of those losses and is now trading hands at $35,700, according to theCoinDesk 20.
Related:Chainlink Hits Record High, Altcoins Rally Amid Bitcoin Consolidation
Severe fluctuations diminish the attractiveness of the leading cryptocurrency because company cash reserves are mainly rainy day funds for maintaining core business needs during unexpected down turns.
“It would be a red flag for investors if a corporation bought financial assets for speculation purposes unrelated to their core business,” JonesTrading chief market strategist Michael O’Rourke said.
Columbia Business School adjunct professor Robert Willens told Bloomberg investing in bitcoin with those funds poses a risk CFOs might not be willing to stomach after last week’s price action.
“Is it a smart strategy? It could be. But, of course, if it’s not, it would become something that could threaten the very existence of a corporation,” Willens said.
• Bitcoin’s Massive Swings Give Pause to CFOs Mulling Reserve Investment: Bloomberg
• Bitcoin’s Massive Swings Give Pause to CFOs Mulling Reserve Investment: Bloomberg
• Bitcoin’s Massive Swings Give Pause to CFOs Mulling Reserve Investment: Bloomberg
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 33114.36, 33537.18, 35510.29, 37472.09, 36926.07, 38144.31, 39266.01, 38903.44, 46196.46, 46481.11
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2020-04-09]
BTC Price: 7302.09, BTC RSI: 57.07
Gold Price: 1736.20, Gold RSI: 65.76
Oil Price: 22.76, Oil RSI: 38.64
[Random Sample of News (last 60 days)]
Square's (SQ) Q4 Earnings and Revenues Surpass Estimates: Square, Inc.SQ reported fourth-quarter 2019 adjusted earnings of 23 cents per share, which beat the Zacks Consensus Estimate by 15%. The bottom line was also higher than management’s guided range of 19-21 cents per share. Further, the figure improved 64.3% on a year-over-year basis but declined 8% sequentially.Net revenues of $1.31 billion surpassed the Zacks Consensus Estimate of $1.19 billion and came ahead of the guided range of $1.16-$1.18 billion. The top line also improved 41% from the year-ago quarter and 3.7% sequentially.We note that the company has stopped reporting adjusted revenues from fourth-quarter 2019 onwards.The top line was driven by Seller ecosystem that contributed $938 million to net revenues, up 26% year over year. Further, robust performance of Cash App, which generated $361 million of net revenues, up 147% year over year, was a major positive. Furthermore, strengthening momentum across Bitcoin and rapid adoption of Cash Card contributed to the results.Additionally, continued acceleration in gross payment volume (GPV) drove the results.Notably, the company completed the divestiture of Caviar to DoorDash at the end of October 2019. Caviar had been underperforming and consequently its sale remains a major positive.Excluding Caviar, net revenues would have exhibited growth of 46% on a year-over-year basis.Notably, shares of the company surged 6.9% in the pre-market trading following the better-than-expected current quarter and full-year outlook.We believe the company’s solid momentum across sellers and strong product portfolio is likely to continue aiding performance in the near term.
Square, Inc. Price, Consensus and EPS Surprise
Square, Inc. price-consensus-eps-surprise-chart | Square, Inc. Quote
Gross Payment Volume
GPV in the fourth quarter amounted to $28.64 billion beating the Zacks Consensus Estimate of $28.54 billion. Notably, the figure improved 25% year over year and 1.5% on a sequential basis.GPV growth was driven by the company’s continued momentum across the larger sellers.Square defines larger sellers as those that make more than $125,000 of annualized GPV and mid-market sellers as those with annualized revenues of more than $500,000.GPV from larger sellers contributed 55% to total GPV, up 33% year over year. Further, Square witnessed strong contributions from mid-market sellers, which accounted for 27% of total GPV, up 42% from the year-ago quarter.This can be attributed to Square’s robust product portfolio and comprehensive ecosystem that aided the company in attracting new sellers to its platform while retaining the existing ones.Additionally, robust Square Capital aided the company’s momentum across the seller ecosystem. This was a positive. Further, expanding international presence of Square Terminal remained a tailwind.Top-Line DetailsTransaction (63.4% of net revenues):The company generated transaction revenues of $832.2 million, up 25% year over year. Revenue growth within this category can be attributed to strengthening momentum across sellers.Subscription and services (21.4% of revenues):The company generated $281.4 million revenues from this category, surging 45% from the year-ago quarter. This improvement can be attributed to the strong performance by Cash App, which contributed $183 million to the category’s top line. Further, solid momentum across seller subscription and services products remained positive. Additionally, Square Capital, which facilitated 97,000 originations worth $ 671 million, up 42% from the year-ago quarter, contributed to the results.Hardware (1.7% of revenues):Square generated $22.3 million of revenues from this business, up 23% year over year. The category’s top line was primarily driven by robust Square Terminal and Square Reader for contactless and chip.Bitcoin (13.5% of revenues):The company generated $177.6 million revenues from this category, soaring 238.6% on a year-over-year basis. Square continued to benefit in the bitcoin space on the back of growing adoption of Cash App. Notably, without bitcoin revenues, Cash App revenues would have come in at $183 million.Operating DetailsPer management, gross profit as a percentage of net revenues came in 40.1%, contracting 60 basis points (bps) year over year. While Transaction, Subscription and services and Bitcoin generated profit, Hardware category reported loss during the reported quarter.Adjusted EBITDA as a percentage of net revenues was 9%, expanding 30 bps year over year.Operating expenses came in $509.7 million, surging 33% from prior-year quarter.Product development expenses were $173.3 million, up 22.2% year over year, primarily owing to growing engineering, data science and design personnel costs.General and administrative expenses were $118.2 million, up 23.8% from prior-year quarter. This was primarily owing to finance, legal and support personnel costs.Further, sales and marketing costs were $185.2 million, up 55.2% year over year, due to increase in Cash App peer-to-peer payment transfer and Cash Card issuances.Balance SheetAs of Dec 31, 2019, cash and cash equivalents balance was $1.05 billion, up from $612.04 million as of Sep 30, 2019.Short-term investments were $492.5 million in the reported quarter, down from $557.6 million in the previous quarter.Long-term debt was $938.8 million, increasing from $928.9 million in previous quarter.GuidanceFor first-quarter 2020, Square expects net revenues between $1.34 billion and $1.36 billion. The Zacks Consensus Estimate for revenues is pegged at $1.20 billion.Gros profit is anticipated in the range of $550-$560 million.Adjusted earnings are expected in the range of 16-18 cents per share. The Zacks Consensus Estimate for earnings is pegged at 14 cents per share.For 2020, Square expects total net revenues between $5.9 billion and $5.96 billion. The Zacks Consensus Estimate for net revenues is currently pegged at $5.61 billion.Gros profit is anticipated to lie between $2.44 billion and $2.475 billion.Adjusted earnings are projected in the range of 90-94 cents per share. The Zacks Consensus Estimate for earnings is currently pegged at 91 cents per share.We note that mid-points of both earnings and revenue guided ranges for first-quarter 2020 and full year 2020 are above the Zacks Consensus Estimate.Zacks Rank & Key PicksSquare currently has a Zacks Rank #3 (Hold).Some better-ranked stocks in the broader technology sector include Dropbox, Inc. DBX, ManTech International Corp. MANT and Alteryx, Inc. AYX. While Dropbox and ManTech sport a Zacks Rank #1 (Strong Buy), Alteryx carry a Zacks Rank #2 (Buy). You can seethe complete list of today’s Zacks #1 Rank stocks here.The long-term earnings growth rate for Dropbox, ManTech and Alteryx is currently projected to be 22.2%, 8% and 50.59, respectively.Today's Best Stocks from ZacksWould you like to see the updated picks from our best market-beating strategies? From 2017 through 2019, while the S&P 500 gained an impressive +53.6%, five of our strategies returned +65.8%, +97.1%, +118.0%, +175.7% and even +186.7%.This outperformance has not just been a recent phenomenon. From 2000 – 2019, while the S&P averaged +6.0% per year, our top strategies averaged up to +54.7% per year.See their latest picks 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 reportManTech International Corporation (MANT) : Free Stock Analysis ReportSquare, Inc. (SQ) : Free Stock Analysis ReportAlteryx, Inc. (AYX) : Free Stock Analysis ReportDropbox, Inc. (DBX) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research || Hello Pal Announces Record Results in March 2020: Registered users of over 4.9 million from over 200 countries or regions Vancouver, British Columbia--(Newsfile Corp. - April 1, 2020) - Hello Pal International Inc. (CSE: HP) (FSE: 27H )(OTC PINK: HLLPF) ("Hello Pal" or the "Company"), a provider of rapidly growing international social messaging, language learning and travel mobile apps, is pleased to announce that it achieved record receipts in March 2020 as set forth below: Livestreaming Service Hello Pal's livestreaming service achieved record receipts of approximately $448,000* and daily active livestream users of 10,000 for March 2020. "We are very pleased that we achieved record revenues even with the challenges of the coronavirus pandemic. We look forward to the continued grown of the Hello Pal app," said KL Wong, Founder and Chairman of the Company. Strong Registered User Base As of the date of the news release, Hello Pal's registered user base is over 4.9 million users from over 200 countries and regions. The positive increase in registered users continues to be driven by our livestream service. ------ To download Hello Pal, Language Pal, Travel Pal or the proprietary Phrasebooks please visit the IOS or Android store. For information with respect to the Company or the contents of this news release, please contact the Company at (604) 683-0911 or visit the website at hellopal.com . Email inquiries can be directed to: [email protected] . About the Hello Pal Platform The Hello Pal Platform is a proprietary suite of mobile applications built on a user-friendly messaging interface that focus on social interaction, language learning and travel. Hello Pal, has been designed from the ground up to be easy to use and enables users' the freedom to speak in their own language regardless of the other person's language they are speaking to. Hello Pal's overriding mission is to bring the world closer together through social interaction, language learning and travel. By creating a platform where it is easy to instantly interact with others around the world and giving them the tools to communicate with each other in a joyful and fun way, we hope to do our part (however small) in fostering understanding and tolerance between all citizens of the world. Story continues The Hello Pal platform also includes a proprietary digital wallet allowing users to store and transfer popular digital assets and tokens, including Bitcoin and Ether, based on blockchain technology. Hello Pal, was the first app released to the public and experienced rapid growth building a diverse and active global user base. Travel Pal and Language Pal are the first and second companion apps to launch. Both apps benefit immensely from the existing and ever expanding globally based group of users. Each new app will launch with this established rapidly growing user base accelerating their adoption. Information set forth in this news release contains forward-looking statements. These statements reflect management's current estimates, beliefs, intentions, and expectations; they are not guarantees of future performance. Hello Pal cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Hello Pal's control. Such risks and uncertainties are described in Hello Pal's Listing Statement dated May 10, 2016 available on www.thecse.com. Although Hello Pal is currently generating revenues, Hello Pal remains in the growth stage and such revenues are yet to be profitable. Accordingly, actual, and future events, conditions and results may differ materially from the estimates, beliefs, intentions, and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, Hello Pal undertakes no obligation to publicly update or revise forward-looking information. *Non-IFRS Financial Measure Readers are cautioned that "receipts" is a measure not recognized under IFRS. Total receipts includes the amount of cash received by the Company and its agents from the use of the Hello Pal app. Under IFRS, total receipts may be higher than revenue as a portion of the revenue is received by agents of Hello Pal. However, the Company's management believes that "receipts" provides investors with insight into management's decision-making process because management uses this measure to run the business and make financial, strategic and operating decisions. Further, "receipts" also provides useful insight into the operating performance of the Hello Pal app. "Receipts" does not have standardized meanings prescribed by IFRS and therefore may not be comparable to similar measures presented by other issuers. Readers are cautioned that "receipts" are not an alternative to measures determined in accordance with IFRS and should not, on their own, be construed as indicators of performance, cash flow or profitability. THE CSE HAS NEITHER APPROVED NOR DISAPPROVED THE INFORMATION CONTAINED HEREIN AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE To view the source version of this press release, please visit https://www.newsfilecorp.com/release/54020 || First Mover: A Sneak Preview of Bitcoin’s Halving — in Real Time: As central banks and governments around the world inject trillions of dollars of coronavirus-related aid and stimulus into the financial system, big investors are becoming increasingly curious aboutbitcoin’s(BTC) potential as a hedge against inflation.
And nowhere is that inflation resistance more evident than in bitcoin’s once-every-four-years “halving.” That’s when issuance of new units of the cryptocurrency automatically gets cut in half. The plan, expected to continue for at least another century, was coded into the underlying blockchain network’s programming when it was launched 11 years ago. The mechanism’s very purpose was to prevent a rapid debasement of bitcoin’s purchasing power.
Related:First Mover: Bitcoin Cash’s Halving Was Dull – Bitcoin’s May Be Much the Same
You’re readingFirst Mover, CoinDesk’s daily markets newsletter. Assembled by the CoinDesk Markets Team, First Mover starts your day with the most up-to-date sentiment around crypto markets, which of course never close, putting in context every wild swing in bitcoin and more. We follow the money so you don’t have to. You cansubscribe here.
Bitcoin’s next halving isn’t expected until May. But two lesser cryptocurrencies, bitcoin cash and bitcoin SV, are due for theirhalvings this week, offering an advance glimpse of the quadrennial phenomenon.
“You’re going to get a sneak preview of what happens with bitcoin in a month,” said Greg Cipolaro, co-founder of Digital Asset Research, a New York-based analysis firm.
Bitcoin cash(BCH), a cryptocurrency that split off or “forked” from bitcoin in 2017, is expected to undergo its halving on Wednesday.Bitcoin SV(BSV), which forked from Bitcoin cash the following year, is due for a halving on Friday.
Related:Bitcoin’s Bull Case Strengthens After Breaching Price Hurdle at $7.1K
In the realm of cryptocurrencies, the two forked cryptocurrencies are considered also-rans, with a combined total market value of roughly $8 billion, versus $131 billion for bitcoin.
But since halvings constitute a crucial chapter of any crash course in cryptoeconomics, the episodes bear watching. Many crypto traders say big price swings often coincide with halvings, providing ample opportunities for speculation. The German bank BayernLB predicted last year thatbitcoin’s halving could drive its price to $90,000, roughly 12 times the current level.
The most likely outcome of this week’s halvings, according to the analysis firm Arcane Research, is an immediate drop in profits for computer operators supporting the two lesser blockchains. These “miners” will then probably just shift their computing power to the bigger bitcoin network, where the halving is still a month away. Such computing resources, known as hashpower in the industry jargon, are crucial for keeping these blockchain networks secure – preventing theft or other abuses.
“It’s going to push more hash toward the bitcoin network,” says Matt D’Souza, co-founder and CEO of Blockware Solutions, which brokers high-speed computers used for cryptocurrency mining.
The loss of hashpower on the smaller blockchains might make them more vulnerable to a takeover by a malicious actor in what’s known as a 51 percent attack. That’s when an individual or cabal amasses sufficient computing resources to co-opt the network – similar to the way a corporate raider might try to buy enough equity in a company to force a takeover.
Mike Maloney, chief financial officer of Coinmint, a cryptocurrency-mining company, estimates that if the security of the Bitcoin Cash network fell by half, an attack would require the computing equivalent of about 400 megawatts of electricity – roughly the output of a medium-size power plant. By contrast, it would take 6,000 to 10,000 megawatts to attack the Bitcoin blockchain, he says.
Bitcoin cash’s halving “will hurt the overall hashrate/security of an already vulnerable blockchain,” says Michael Thoma, co-founder and lead analyst at cryptocurrency-rating firmCryptoEQ.
What happens in cryptocurrency markets, as a result of this week’s halvings, is a bit more speculative. Prices for bitcoin cash and bitcoin SV might fall because holders of those digital tokens might suddenly start worrying about the vulnerability, says Dave Perrill, CEO of Compute North, which provides hosting facilities and services for cryptocurrency miners.
While the hashpower shift would bolster security on the bitcoin blockchain, miners there would suddenly face more competition – resulting in a dilution of profits.
“We see mining as largely as an experience like evolution, Darwinism,” Perrill says.
He notes that it will be difficult to draw too many parallels between this week’s episodes and bitcoin’s halving in May. That’s partly because so much of the crypto industry has evolved around bitcoin, and there’s such a huge community of traders, developers and marketers who are focused on making it successful, Perrill says. In digital-asset markets, bitcoin is the bellwether, and lesser coins like bitcoin cash and bitcoin SV are often merely trading in sync.
Litecoin(LTC), yet another spinoff from bitcoin, provided a cautionary tale when it underwent a halving in August of last year. While the price quadrupled in the first half of 2019, it peaked a couple months before the halving andtumbled over the rest of the year.
Suffice to say the digital-asset industry is still so new compared with traditional finance that nobody’s really certain how the various halvings will play out. Many bitcoiners have a remarkably sophisticated grasp on old-finance concepts like the theory of efficient markets, and even within the cryptocurrency industry there are wide-ranging opinions on whether the halving – an event that’s known years in advance – is already baked into the price.
“Halvings are not unilaterally positive events for cryptocurrencies,” the analysis firm Messariwrote in a December report. “Maybe Bitcoin is different, but maybe it’s not.”
This week’s halvings on the Bitcoin Cash and Bitcoin SV blockchains will provide additional data points – ahead of next month’s featured event.
BTC: Price: $7,334 (BPI) | 24-Hr High: $7,464 | 24-Hr Low: $7,081
Trend: Bitcoin is holding ground at press time, but struggling to take out the 50-day average for the second day running. The cryptocurrency is trading near $7,334, representing a 1.6 percent gain on the day, having tested the 50-day MA at $7,422 during the early European trading hours.
A look at the four-hour chart shows the cryptocurrency has failed three times in the last 24 hours or so to keep gains above the psychological resistance of $7,400.
The repeated bull failure, coupled with the four-hour chart MACD’s bearish cross below zero indicates scope for a drop to ascending trendline support near $7,000. The risk-off tone in the global equity markets also favors a pullback in bitcoin.
At press time, major European indices like Germany’s DAX and U.K.’s FTSE are reporting around 1 percent drops. The cryptocurrency has closely tracked action in the equity markets over the past few weeks.
On the higher side, a sustained move above $7,400 would open the doors to $8,000.
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• Top Cryptos Edge Up as Derivatives Data Suggests Newfound Risk Aversion Among Traders
• Bitcoin Tracks Stocks Up to $7.4K Before Sliding Back to $7.1K || XRP Dips Below 0.18014 Level, Down 6%: Investing.com - XRP fell bellow the $0.18014 level on Thursday. XRP was trading at 0.18014 by 14:40 (18:40 GMT) on the Investing.com Index, down 5.77% on the day. It was the largest one-day percentage loss since March 26.
The move downwards pushed XRP's market cap down to $7.89495B, or 0.00% of the total cryptocurrency market cap. At its highest, XRP's market cap was $20.48129B.
XRP had traded in a range of $0.17420 to $0.18587 in the previous twenty-four hours.
Over the past seven days, XRP has seen a rise in value, as it gained 3.22%. The volume of XRP traded in the twenty-four hours to time of writing was $1.13639B or 0.00% of the total volume of all cryptocurrencies. It has traded in a range of $0.1622 to $0.1871 in the past 7 days.
At its current price, XRP is still down 94.52% from its all-time high of $3.29 set on January 4, 2018.
Bitcoin was last at $6,870.1 on the Investing.com Index, up 9.84% on the day.
Ethereum was trading at $142.82 on the Investing.com Index, a gain of 9.20%.
Bitcoin's market cap was last at $125.66208B or 0.00% of the total cryptocurrency market cap, while Ethereum's market cap totaled $15.73983B or 0.00% of the total cryptocurrency market value.
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Cardano Climbs 10% In Bullish Trade || XRP Climbs Above 0.33620 Level, Up 2%: XRP Climbs Above 0.33620 Level, Up 2% Investing.com - XRP rose above the $0.33620 threshold on Saturday. XRP was trading at 0.33620 by 08:06 (13:06 GMT) on the Investing.com Index, up 1.71% on the day. It was the largest one-day percentage gain since February 14. The move upwards pushed XRP's market cap up to $14.68837B, or 4.71% of the total cryptocurrency market cap. At its highest, XRP's market cap was $20.48129B. XRP had traded in a range of $0.33064 to $0.34553 in the previous twenty-four hours. Over the past seven days, XRP has seen a rise in value, as it gained 21.06%. The volume of XRP traded in the twenty-four hours to time of writing was $4.12855B or 2.68% of the total volume of all cryptocurrencies. It has traded in a range of $0.2676 to $0.3455 in the past 7 days. At its current price, XRP is still down 89.78% from its all-time high of $3.29 set on January 4, 2018. Elsewhere in cryptocurrency trading Bitcoin was last at $10,237.5 on the Investing.com Index, down 0.23% on the day. Ethereum was trading at $282.82 on the Investing.com Index, a gain of 4.26%. Bitcoin's market cap was last at $186.19522B or 59.76% of the total cryptocurrency market cap, while Ethereum's market cap totaled $30.96346B or 9.94% of the total cryptocurrency market value. Related Articles XRP Price Hits 7-Month High as BitMEX Users Reel From 60% Flash Crash Ethereum Climbs Above 278.97 Level, Up 5% Japan Uneased by Chinese CBDC, Plans on Digital Yen in 2 to 3 Years || Bitcoin shows signs of weakness as death cross takes hold: The recent daily death cross on the Bitcoin chart is beginning to rear its ugly head after the worlds largest cryptocurrency by market cap failed to breakout above $7,000. Trade volume has dropped off significantly over the past fortnight, averaging around $30 billion per day despite regularly topping $70 billion earlier in the month. The apparent lack of interest will undoubtedly be a cause for concern for bullish Bitcoin investors, especially considering its failure to break above $7,000 after March 13s sell-off. One glimmer of hope for Bitcoins tribal followers is the upcoming halving event, which will see block rewards for miners slashed from 12.5BTC per block to 6.25BTC per block. This has historically been a bullish event for cryptocurrencies as supply on the market begins to dry up, however the dropping hash rate remains a cause for concern. When mining difficulty and hash rate drops at the same time it indicates that miners are exiting the market ahead of the halving, which means that the network becomes more vulnerable to 51% attacks. As Bitcoin continues to look strained from a fundamental standpoint, the technicals on the chart creates a similarly bleak picture. If the death cross continues to mount pressure on Bitcoin it could well be in store for a 50% correction, which will take it to 2018s low of $3,150. A fall from grace of this magnitude will see the theory of miner capitulation come into play. The theory predicts that as Bitcoins price falls so does mining profits, which could cause mining pools to shut down as they cut losses. However, for now BTC continues to trade above $6,000 and until the $5,900 level is breached to the downside it looks like it will continue to consolidate over the next week. For more news, guides and cryptocurrency analysis, click here . || CME will close trading floor on Friday amid coronavirus spread: CME Group will close its Chicago trading floor at the end of the day on Friday, CNBC reported Wednesday. The derivatives exchange, which facilitates the trading of contracts tied to oil, agriculture products, and U.S. stocks, is said to have made the decision out of precaution due to the spread of coronavirus. In a statement the exchange group said: "No coronavirus cases have been reported on the trading floor or in the Chicago Board of Trade building. The reopening of the trading floor will be evaluated as more medical guidance on the coronavirus becomes available." The company's headquarters will remain open, the statement added. Approximately 450 people trade or work with traders on CME's floor, according to a spokeswoman. CME is also one of the few exchanges in the U.S. that offers Bitcoin derivatives contracts, with the other notable one being Intercontinental Exchange-backed Bakkt. As of today, there are 1,107 confirmed cases of coronavirus in the U.S., with 25 in Illinois, CME's home state. Meanwhile, a spokesperson for New York Stock Exchange's parent company, ICE, said it had no plans to close its trading floor on Wall Street. There are more than 200 confirmed coronavirus cases in New York . Frank Chaparro contributed reporting. || XRP Sees Flash Crash and Quick Rebound on BitMEX: XRP , the native asset of San Francisco-based Ripples XRP Ledger, experienced a flash crash on Hong Kong-based derivatives exchange BitMEX on Thursday. At exactly 14:00 UTC, the price on the XRP/USD pair quickly plummeted from 33 cents to 13 cents, a 60 percent drop. During that minute, volume spiked to $6 million, according to BitMEX data. The cryptocurrency quickly recovered within a second and closed at $0.3277, suggesting a large leveraged trade was quickly wiped out. CoinDesk reached out to BitMEX CEO Arthur Hayes via email regarding the incident but has yet to hear back. Related: Ether Futures Volume Highest Since June 2019 A couple of minutes later in the spot market, XRP (XRP) dropped a little under 4 percent but rebounded two minutes after, according to data from Coinbase Pro . An all-cryptocurrency platform, BitMEX offers highly leveraged trades of up to 50 times margin on collateral. If a bet goes the wrong way, a trader can be automatically liquidated, wiping out the collateral balance on the exchange instantly. BitMEX offers some novel instruments not normally seen in the traditional financial derivatives world, including an innovative perpetual swap derivative that does not expire. Long known as a bitcoin (BTC)-only derivatives exchange, BitMEX has added additional cryptocurrency assets in the past few years. Ethereum (ETH) trading was launched in 2018. Related: Mastercard and Ripples Xpring Join Industry Group to Promote Blockchain Education XRP is BitMEXs newest addition, added on Feb. 5. The company has offices in Hong Kong but is licensed and registered in the Seychelles, where its gray-area regulatory status allows it to offer very risky bets on crypto. Bitmex has been investigated by the Commodities Futures Trading Commission and prohibits U.S.-based traders on its platform. Related Stories Intermex Partners With Ripple for XRP-Based Remittance Corridor Galaxys Novogratz: XRP Will Underperform Immensely Again This Year || GitHub Is Burying Bitcoin Code Inside an Arctic Mountain to Ride Out the Next 1,000 Years: An icy mountain in Norway’s Svalbard – an all but inhabitable Arctic archipelago covered in glaciers and inhabited by polar bears – is an unlikely safe haven for cryptocurrency code, let alone a pillar of modern-day civilization. But it’s here, 250 meters underground in a forsaken coal mine, that GitHub has chosen to store reams of open-source code. That includes Bitcoin Core, by far the most popular code implementation of bitcoin’s underlying infrastructure and one of the most used repositories on GitHub. As a part of an archiving program for safeguarding an important part of technological history, a “snapshot” of all this code will be copied onto film reels and stored in a steel container, all done in an effort to keep the data alive and unscathed for 1,000 years. Related: BitMEX Operator Ups Grant for Bitcoin Development to $100K The team is currently getting this data ready. The official deposit into the mountain is planned for late April, a GitHub spokesperson told CoinDesk. But, while Bitcoin Core is featured, most cryptocurrency projects stored on GitHub will also be included, including bitcoin’s forward-looking Lightning Network, and the code behind other cryptocurrencies, such as ethereum and dogecoin. Organizations like the non-profit digital library Internet Archive and the future-looking cultural non-profit Long Now Foundation are backing the effort, and historians, anthropologists and other scientists are advising it. Bitcoin and Ethereum coders are fans of the initiative. “The more backups the merrier,” as ethereum developer Ligi put it to CoinDesk. Related: Bitcoin Coders Confront an Old Quandary: How to Upgrade an Entire Network “I think it’s likely that at some point in the future the electronic record will be lost. It’s all pretty fragile. Preserving some things on hard copy could definitely help avoid a hole in history,” said Wladimir van der Laan, lead maintainer of Bitcoin Core. The archive potentially provides a way for people up to 1,000 years from now to figure out what on earth cryptocurrency was or how it evolved – if it manages to last a millennium. Story continues “In one sense, this is a fascinating section of financial history that we should preserve for future study,” Avanti Chief Technology Officer and Bitcoin Core contributor Bryan Bishop said. History’s limits While archiving cryptocurrency code could plug historical holes for historians, there are limits to what storing this information will enable. Van der Laan pointed out that, from a software engineer’s perspective, the code might not make much sense to coders hundreds of years from now. “As a developer, I do find the idea of a future historian trying to puzzle together our (what goes for) civilization from reams of clever hacks, spaghetti code and context-specific source code kind of amusing,” van der Laan said. Jason Teutsch, the founder of Ethereum infrastructure project Truebit and a computer science researcher, argued similarly: Explanations of the code should sit alongside the raw material. “The social, economic, regulatory and academic records depicting motivations and resources for code development may ultimately become more important than the code itself,” he said. Read more: Here’s How to Inspect Bitcoin’s Next (Likely) Major Upgrade Yourself As a developer who hosts a wiki for futurist technological ideas, Avanti’s Bishop is looking to preserve information even further into the future. In fact, Bishop is awaiting a patent for a way to store information inside of DNA. He notes that the genetic instructions guiding an organism’s growth can preserve information for hundreds of thousands of years. And while this project could help preserve some history, Bishop argues there’s plenty of other important information out there that should be stored in a similar fashion. “Beyond GitHub, I think they need to seriously consider archiving Sci-Hub, which has over 70 million scientific articles,” Bishop said. “It’s one of the great feats of human intellect and progress, and it needs to be preserved.” Related Stories Here’s How to Inspect Bitcoin’s Next (Likely) Major Upgrade Yourself Bitcoin’s Privacy and Scaling Tech Upgrade ‘Taproot’ Just Took a Big Step Forward || Bitcoin’s Price Steady Over $9,000 As Sentiment Stays Positive: As global equity markets continue to get pummeled, bitcoin’s return to the $9,000 level may have been driven by some of the same forces causing a rally in bonds – a desire for respite from acoronavirus-plagued markets.
After sharp gains in price Thursday,bitcoin(BTC) has been trading steadily in a range between $9,000 and $9,200. For the past 24 hours, bitcoin’s price change has been minimal, down half a percent as of 18:00 UTC (1 p.m. ET).
Traders see bitcoin’s jump back into the $9,000 range as another sign bitcoin is trending upward in 2020 while traditional markets stumble. Year to date, bitcoin is up over 26 percent while the S&P 500 stock index is down 9 percent. Cryptocurrency sentiment appears bullish as prices remain above significant moving averages.
Related:Market Liquidations Cause Cascade in Bitcoin Price
Although traders seem to be open to viewing the cryptocurrency markets as a safe haven from stock market turmoil, more volatility is possible ahead of May’shalving, an event that will slash in half the reward bitcoin miners obtain.
“It’s a relief rally. In my opinion, we have a likelihood of sweeping another low before the post-halvening rally,” said Mostafa Al-Mashita of Canadian crypto brokerage firm Secure Digital Markets.
The S&P 500 closed down 3 percent Thursday as coronavirus fears reversed the small post-Super Tuesday rally. Equities traders cheered the results of the U.S.Democratic primary electionfavoring former Vice President Joe Biden over senators Bernie Sanders and Elizabeth Warren, candidates seen as openly hostile to capital markets. Also, bitcoin prices moved higher onoptimistic banking news from Indiaand positiveregulatory clarity from South Korea.
“I believe gold and BTC are safe havens,” said Henrik Kugelberg, a Sweden-based crypto OTC trader. “As coronavirus has just started to spread, I believe a strong market will last well until the halving will have effect. To me it seems plausible that we can hit an all-time high this year, perhaps within six months.”
Related:Bitcoin, Bonds and Gold: Why Markets Are Upended in a Time of Fear
Gains in the cryptocurrency sector Friday includeLisk(LSK) in the green 4 percent,ether(ETH) up 2 percent, andbitcoin cash(BCH) appreciating 1 percent. Losses in crypto includebitcoin SV(BSV),bitcoin gold(BTG) andethereum classic(ETC) all down 3 percent
• Bitcoin’s Sharp Price Drop May Have Been Prompted by $120M Scam Sell-off
• Asset Ratings Giant Morningstar Takes First Plunge Into Blockchain Securities
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 6865.49, 6859.08, 6971.09, 6845.04, 6842.43, 6642.11, 7116.80, 7096.18, 7257.67, 7189.42
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2021-07-21]
BTC Price: 32110.69, BTC RSI: 45.62
Gold Price: 1802.90, Gold RSI: 46.46
Oil Price: 70.30, Oil RSI: 46.94
[Random Sample of News (last 60 days)]
What Is DeFi (Decentralized Finance)?: DeFi signage DeFi, short for decentralized finance, is a global, peer-to-peer system of storing and transferring assets without the structure, restriction and costs of a traditional centralized banking system. Advocates assert that DeFi can do everything a bank – whether brick-and-mortar or online-only – can do, only faster and more transparently through digital smart contracts on public ledger blockchains like Ethereum. Here’s what you need to know about this emerging technology. Consider working with a financial advisor if you’re thinking of moving into either cryptocurrencies or using DeFi. MakerDAO , which was created in 2014, is often credited with being the first DeFi platform to gain widespread use. It’s an open-source project on the Ethereum blockchain and a decentralized autonomous organization created in 2014. How DeFi Works DeFi works off a public decentralized blockchain network, stablecoins and DeFi apps, also known as dapps. Blockchains continuously collect chunks of data and links them so past transactions are immutably and unbreakably documented. Each transaction is publicly verified by everyday users, and once it goes on the chain, it can not be changed. The decentralized nature of blockchain makes it more secure than alternatives that depend on one centralized owner or authority like banks, corporations and governments. Blockchain technology enables the tracking of singular pieces of data like cryptocurrency payments so financial transactions can be verified and traced back to their owners, giving it verifiable value that can be used even more securely than fiat currencies. Stablecoins are a type of cryptocurrency that aims to combine the transparency, security and immediacy of cryptocurrencies with the stability of fiat currencies. Most DeFi apps, or dapps, use the Ethereum blockchain to complete transactions. You can purchase Ether, the Ethereum currency, and other cryptocurrencies to spend, lend and save. Cryptocurrencies are what fuel the creation of the blockchain network. Using dapps like Maker, Compound and Bancor, you can pretty much do anything with crypto that you can with traditional currencies like the U.S. dollar, including borrowing and lending. Among other things, you can invest in non-fungible tokens (NFTs), which have been gaining popularity for artists, collectors, celebrities of all kinds and their fans. Story continues Pros and Cons of DeFi Robot and DeFi block letters There are some major advantages of using DeFi, including cost, speed and security. Anyone with an internet connection has access to blockchains and cryptocurrencies . Users are able to make trades and move their assets whenever they want without having to wait on bank transfers or pay bank fees. DeFi is fast. The blockchain is updated as soon as a transaction is made, and interest rates are updated multiple times in one minute. The open nature of DeFi means that every single transaction can be seen by the public. It would be very hard to steal cryptocurrency because of how the blockchain logs transactions. You can also invest on securities markets and conduct peer-to-peer activities . For example, DX.Exchange provides a platform for trading and investing in tokenized stocks backed by NASDAQ and MPS Marketplace Services Ltd. You could buy a house using crypto, provided the seller agrees and you find an abstract company that is willing to work with DeFi. Emerging technologies like BitPay can be used to make purchases for physical goods that are typically paid for in dollars by transferring crypto into cash. The economic impact of Covid-19 and how banks responded revealed another potential benefit of DeFi. In response to the pandemic’s recession, some central banks slashed interest rates to maintain consumer spending and protect the economy. However, that cut the effective net worth of savers. Under a DeFi regime, a central bank would have a much more difficult – if not impossible – task to manipulate the value of its currency. In other words, DeFi enables users to guard the value of their assets from central bank manipulation. There are also some disadvantages that DeFi faces. DeFi users are not able to guard the value of their assets from market gyrations. Values fluctuate frequently and sometimes extremely. Ethereum transaction rates also fluctuate, so trading could potentially become expensive. Further, dapps are a relatively new technology and weaknesses or liabilities may yet emerge. In addition, there is also an array of potential tax implications that come with purchasing, trading and investing via DeFi. Finally, the shape of emerging policies and regulatory schemes have yet to be determined. In particular, it remains to be seen regulators will respond to stablecoins coexisting with central bank digital currencies. The Bottom Line Cryptocurrency trader DeFi is globalized and permissionless, meaning anyone anywhere has access to funds and other assets at any time, without incurring penalties or fees levied by banks and other traditional financial institutions. Widespread use of DeFi could speed the transition to a cashless society . Hacking might also be reduced. How blockchain technology tracks and secures transactions means it would require a massive coordinated cyber attack to disrupt the chain. This kind of attack is highly improbable and would be challenging to the point that the cost to the attacker would likely outweigh the benefit. Tips on Investing Consider talking to a financial advisor about how to get financial exposure to blockchain technology. Finding the right financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with financial advisors in your area in just five minutes. Get started now . At this point, securities linked to companies incorporating blockchain-based technologies qualify as an alternative investment, not a core component of a basic investor portfolio. Investing in cryptocurrencies is one way to get financial exposure to blockchain technology. There are several different exchanges to choose from, with the most popular being Coinbase, GDAx and Bitfinex. These exchanges allow you purchase currencies like Bitcoin and Ethereum with a debit card . Photo credit: ©iStock.com/Vladimir Kazakov, ©iStock.com/http://www.fotogestoeber.de, ©iStock.com/Thinkhubstudio The post What Is DeFi (Decentralized Finance)? appeared first on SmartAsset Blog . || BlackRock Wants a Blockchain Strategy for Aladdin, Its Investments Engine: BlackRock, the world’s largest asset manager with almost $9 trillion in assets under management, is seeking to develop a blockchain strategy for its flagship portfolio management system, Aladdin, according to a job posting . The director-level hire will “evaluate different blockchain protocols/platforms to explore solution alternatives.” Public and private chains are on the table, a source familiar with the posting said. Aladdin (short for “Asset, Liability, Debt and Derivative Investment Network”) is BlackRock’s system for measuring risk and making trades. According to the job posting, Aladdin’s new director will investigate how blockchain could fit into the system. Related: Crypto Lawyers Andrew Hinkes, Justin Wales Join Fintech Practice at Miami’s K&L Gates Aladdin has been called “the tech hub of modern finance” for its prominence among portfolio risk management tools. Bitwise Chief Investment Officer Matthew Hougan said it is BlackRock’s “crown jewel.” “Aladdin is the secret sauce that makes BlackRock tick, it’s a software tool that managers use to analyze, interpret and work with the capital markets,” Hougan said in an interview. BlackRock declined to comment on the scope of the position. A spokesperson provided the following statement: “We’re hiring an engineering lead for distributed ledger technology to build out our expertise and execution capabilities in the distributed ledger technology space. While we have engineers working in the distributed ledger technology space today, this hire will allow us to increase our focus and capacity.” Related: Crypto Exchange Apifiny Hires New President, Inches Towards Public Listing Aladdin has evolved since the firm, which is now led by co-founder Larry Fink, was founded in 1988. Once exclusively an in-house product, it is now used by more than 250 clients. BlackRock’s blockchain roadmap The job posting calls for candidates experienced in building “resilient” blockchain systems and integrating them into big-business tech stacks. That language suggests an interest in scalable enterprise blockchains, the closed cousins of open networks like Bitcoin and Ethereum. Some Wall Street firms have run enterprise blockchains for trade finance, wholesale banking payments and even collateral-asset tokenization on the belief that distributed ledger technology is more efficient than centralized systems. JPMorgan is one example: It built a blockchain protocol called Quorum to host projects including JPM Coin and Liink. Story continues Only approved parties such as other banks are allowed on private blockchains like JPMorgan’s. Well-known public cryptos are out of the picture, replaced instead by tokenized versions of traditional assets, like real estate or gold. BlackRock wants its new engineer to help bolster the firm’s understanding of tokenization. “Crypto natives have been talking about tokenization and seeing how that could play a role in the future for years,” Hougan said, adding that banks and mega-managers are now beginning to follow suit. “What this seems to suggest is that it’s finally gotten too big to ignore for the largest institutions in the traditional financial world,” he said. On the asset management side, BlackRock began trading bitcoin futures in the first quarter, its first foray into crypto trading. Related Stories BlackRock Is ‘Studying’ Crypto, Which Could Someday Play Role Akin to Gold, CEO Says: Report Apple Is Looking for Crypto Experience in ‘Alternative Payments’ Job Post View comments || The Zacks Analyst Blog Highlights: Exxon Mobil, Freeport-McMoRan, General Motors, Target and Intuit: For Immediate Release Chicago, IL – July 1, 2021 – 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: Exxon Mobil Corporation XOM, Freeport-McMoRan Inc. FCX, General Motors Company GM, Target Corporation TGT and Intuit Inc. INTU. Here are highlights from Wednesday’s Analyst Blog: Wall Street Set to Hold Strong Momentum in 2H: 5 Top Picks With just a day of trading left in June, Wall Street is on the verge of closing an impressive first half of 2021. The three major stock indexes — the Dow, the S&P 500 and the Nasdaq Composite — have rallied 12%, 14.3% and 12.7%, respectively, year to date. The small-cap centric Russell 2000 has surged 16.9% year to date. The mid-cap specific S&P 400 has climbed 17% in the same period. The effect of a robust U.S. economic recovery, supported by nationwide COVID-19 vaccination, a stiff reduction in new coronavirus cases and faster-than-expected reopening, was so impactful on market participants' sentiment that growing concerns of an impending inflation failed to deter Wall Street's northward journey. U.S. stock markets are set to continue their strong performance on the back of solid consumer and business confidence, solid improvement in GDP growth and corporate profits. Consumer Confidence Soars in June The Conference Board reported that the U.S. consumer confidence index jumped to 127.3 points in June from an upwardly revised 120 in May, marking its highest level since February 2020. The consensus estimate was 118.7. The present situation sub-index increased from 148.7 in May to 157.7 in June. More importantly, the expectation sub-index (based on consumers' outlook for the economy in the next six months) improved to 107.0 in June from 100.9 last month. Story continues Although there is no direct relation between any kind of consumer satisfaction optimization index and consumer spending, strong consumer confidence clearly indicates that Americans are more confident about recovering from pandemic-led devastations. M&A Activities and IPO Flourish in 1H The first half of 2021 was extremely favorable for mergers and acquisitions (M&A) and initial public offerings ("IPO"). Reuters reported citing Dealogic data that the size of U.S. IPOs in 2021 already crossed $171 billion, exceeding the previous year's $168 billion. Several investment bankers have estimated that the U.S. IPO size may go up to $250-$300 billion by the end of this year. Dealogic also reported that globally more than 15,500 M&A deals worth $2.9 trillion have been signed so far in 2021. Of these, a large number of deals worth at least $10 billion involving U.S. corporations have already been signed in 2021. A massive surge IPO indicates ample investor appetite for new stocks and growing confidence for risky assets like equities. Likewise, the impressive performance of Wall Street and the stable fundamentals of the U.S. economy are the major drivers of strong M&A deals. Despite the Fed's sooner-than-expected rate hike signal, the yield on the benchmark 10-Year U.S. Treasury Note is hovering around 1.5%, much lower than its recent high of 1.778% recorded on Mar 30. This indicates that the market is not expecting the central bank to start tapering the $120 billion per month bond-buying program anytime soon. Strong Projections for GDP and Corporate Profits The Federal Reserve raised the U.S. GDP growth rate for 2021 to 7% in June from 6.5% in March. On Jun 24, CNBC/Moody's Analytics survey of economists' forecasts reported that the U.S. economy is expected to grow by 7.2% in 2021, marking the highest yearly GDP growth in 38 years. Consumer spending, the major driver of the U.S. economy is expected to remain firm buoyed by around $2.6 trillion of savings. The consumer confidence data in June has shown that the number of Americans planning to purchase homes, automobiles, and major appliances in the next six months saw a solid rise. This will likely support consumer spending in the second half of 2021. Per our projections on Jun 23, total earnings of the market's benchmark — the S&P 500 Index — are expected to climb 35.3% year over year on 10.6% higher revenues in 2021. Moreover, in 2022, total earnings of the S&P Index are forecast to grow 11.2% year over year on 8.3% higher revenues. Our Top Picks We have narrowed down our search to five corporate bigwigs (market capital > $50 billion) that popped more than 20% year to date and still have strong upside left. These stocks have seen solid earnings estimate revisions within the last 60 days. Each of our picks sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here . Exxon Mobil made multiple world-class oil discoveries at the Stabroek Block, located off the coast of Guyana. It recently announced another significant oil discovery at the Longtail-3 well, offshore Guyana which added to the prior estimate of gross recoverable resource of 9 billion barrels of oil equivalent. Moreover, the company also has a strong presence in the prolific Permian where it continues to lower its fracking & drilling costs. The company has an expected earnings growth rate of more than 100% for the current year. The Zacks Consensus Estimate for the current year has improved 0.8% over the last 7 days. The stock price has soared 51.9% year to date. Freeport-McMoRan is conducting exploration activities near its existing mines with a focus on opportunities to expand reserves. The company is optimistic about automotive electrification, which is a positive for copper as electric vehicles (EV) consume more of this commodity. It anticipates a strong potential for the EV market and expects rapid growth over the next decade. The company has an expected earnings growth rate of more than 100% for the current year. The Zacks Consensus Estimate for the current year has improved 1.9% over the last 7 days. The stock price has jumped 43.2% year to date. General Motors has been witnessing strong demand for profitable trucks and SUVs. The company's hot-selling brands in America like Chevrolet Silverado, Equinox and GMC Sierra are driving the top line. General Motors' big push toward EV is commendable. The automaker plans to roll out 30 fresh EV models by 2025-end. The company has an expected earnings growth rate of 24.9% for the current year. The Zacks Consensus Estimate for the current year has improved 15.7% over the last 30 days. The stock price has climbed 41.2% year to date. Target Corp. has undertaken several strategic initiatives to boost performance. It has been deploying resources to enhance omni-channel capacities, including same-day delivery of in-store purchases and accelerate technology improvements. Target has been aggressively adopting strategies to provide a seamless shopping experience through miscellaneous channels. The company has an expected earnings growth rate of 25.6% for the current year (ending January 2022). The Zacks Consensus Estimate for its current-year earnings has improved 36.6% over the last 60 days. The stock price has rallied 37% year to date. Intuit provides financial management and compliance products and services for small businesses, consumers, self-employed and accounting professionals. The space in which Intuit operates has huge growth opportunities. Moreover, for the last few years, Intuit is trying to shift its business model from selling software to cloud-based subscription providers. The company has an expected earnings growth rate of 19% for the current year (ending July 2021). The Zacks Consensus Estimate for its current-year earnings has improved 12% over the last 60 days. The stock price has surged 29.3% year to date. 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 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 Exxon Mobil Corporation (XOM) : Free Stock Analysis Report Target Corporation (TGT) : Free Stock Analysis Report FreeportMcMoRan Inc. (FCX) : Free Stock Analysis Report Intuit Inc. (INTU) : Free Stock Analysis Report General Motors Company (GM) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research || Here's Why You Should Retain Mattel (MAT) Stock for Now: Mattel, Inc. MAT is benefiting from robust e-commerce growth, highly efficient supply chain and strong demand for its products. Year to date, the company’s shares have gained 17.1%, against the industry’s decline of 0.6%. However, high debt remains a major concern. What’s Driving the Performance? The company continues to benefit from cost saving program. Through its current cost-saving program, Mattel remains focused on achieving cumulative cost savings, thus, enhancing margins. Basically, the company is simplifying its organization structure, optimizing processes and supply chain to generate savings across operations. In fact, Mattel had achieved structural simplification run-rate savings of $875 million in 2019, which exceeded its target of $650 million. In 2020, it achieved cost savings of $1 billion, primarily driven by Structural Simplification and Capital Light Cost Saving Programs. During fourth-quarter 2020, the company initiated a new multi-year program — Optimizing for Growth. Notably, this program and the integration of Capital Light Program are likely to deliver an additional $250 million of savings by 2023. Also, the company is raising the estimated cost savings for 2021 from $75 million to a range of $80 million to $90 million. Moreover, Barbie brand continues to impress investors with solid performance. In the first quarter 2021, Barbie brand’s worldwide gross billings witnessed an improvement of 87% on a reported basis and 86% on a constant-currency basis. Notably, Barbie point of sales increased 66%. The upside can primarily be attributed to design led innovation, cultural relevance, executional excellence and customers’ positive response to the brand. Per NPD, Barbie strengthened its position as the number one Global Doll brand in the first quarter of 2021. Going forward, the brand has new fashion segments like Barbie EXTRA and Ken Turned 60 in its pipeline. It recently planned to develop Barbie Fashion Battle, a reality show where designers compete for the chance to create a fashion collection for Barbie. This along with increased focus on new content and digital engagement is likely to drive growth in the upcoming quarters. The company’s latest animated movie, Barbie & Chelsea the Lost Birthday, made a very strong debut in the United States and Canada on Netflix. The company witnessed strong Hot Wheels sales in the first quarter of 2021. Notably, gross sales at the Hot Wheels brand climbed 16%, both on a reported basis and on a constant-currency basis. Moreover, Hot Wheels POS were up double digits in the quarter. The company has been witnessing improving sales trend for Hot Wheels and is quite confident about the brand’s long-term prospect. Hot Wheels continued to be the number one vehicles property globally in the first quarter of 2021, driven by very positive reaction from its customer. Story continues Zacks Investment Research Image Source: Zacks Investment Research What’s Hurting the Stock? Maintaining liquidity during the pandemic has become a herculean task for most of the companies. As of Mar 31, 2021, the company’s cash and equivalents were $615.2 million compared with $762.2 million as of Dec 31, 2020. Meanwhile, long-term debt during the quarter amounted to $2.8 billion debt (almost flat sequentially). However, the company’s interest earned ratio is at 2 compared with 1.9 in the prior quarter. Moreover, coronavirus pandemic might hurt the company’s performance. By the end of the first quarter, nearly 4% of all retail outlets that sell the company’s products, which represent nearly 6% of its revenue base, were closed due to the pandemic. Mattel, which shares space with Hasbro, Inc. HAS, Take-Two Interactive Software, Inc. TTWO and Activision Blizzard, Inc. ATVI, carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. 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 >> 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 Activision Blizzard, Inc (ATVI) : Free Stock Analysis Report Hasbro, Inc. (HAS) : Free Stock Analysis Report Mattel, Inc. (MAT) : Free Stock Analysis Report TakeTwo Interactive Software, Inc. (TTWO) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research || Greenidge Generation to Expand Bitcoin Mining With South Carolina Plant: Greenidge Generation said it plans to expand itsbitcoinmining operations by adding a facility in Spartanburg, South Carolina. It already has an operation in New York.
• Mining at the site, previously a printing plant, will start later this year or early 2022.
• Greenidge Generation said it is committed to “environmental leadership” in cryptocurrency operations, and two-thirds of the electricity at the site is sourced from zero-carbon sources such as nuclear power.
• It plans to lease the site for 10 years from LSC Communications, an Atlas Holdings company.
• “This is an important step in Greenidge’s strategy to build upon our unique expertise in environmentally sound bitcoin mining at additional locations across the country,” CEO Jeff Kirt said.
Read more:Greenidge to Merge, Becoming First Publicly Traded Bitcoin Miner With a Power Plant
• Marathon Digital Reports 17% Increase in Bitcoin Production for June
• Bitcoin Mining Difficulty Records Largest Drop in History; Price Jumps
• Network to Undergo Biggest Difficulty Adjustment Ever; BMC Says 67.6% of North American Bitcoin Mining Is Sustainable
• China Crypto Crackdown: Calendar Offers Clue as to ‘Why Now?’ || Bitcoin Mining Firm Compass Inks Deal With Nuclear Microreactor Company Oklo: Nuclear-poweredbitcoinmining appears to be gaining steam.
Compass Mininghas signed a 20-year deal with nuclear fission startupOklounder which Oklo will supply the bitcoin mining and hosting company with 150 megawatts of energy.
The first Oklo reactors will be deployed in 2023 or 2024 and the costs will be “considerably” less than the energy sources Compass plugs into now, Compass CEO Whit Gibbs said. Oklo plans to build mini-nuclear reactors that produce between one and 10 megawatts of electrical energy compared with the hundreds of megawatts produced at conventional reactors.
Related:3 More Chinese Provinces Shutter Crypto Mines as Clampdown Continues
Oklo hasappliedfor a 1.5-megawatt plant at the Idaho National Laboratory in Idaho Falls and is working on additional applications.
Nuclear energy is increasingly part of the conversation when it comes to energy sources for bitcoin mining. Mining firms and their vast racks of power-hungry specialized computers have drawn the ire of environmental groups as bitcoin has surged in price in the last year.
Earlier this week, nuclear power company Energy Harbor Corp.signeda five-year partnership with Standard Power to fuel bitcoin mining in Ohio. Talen Energyannouncedplans to attach a bitcoin mining operation to a nuclear power plant in Pennsylvania that it already owns and operates.
Compass is also in talks with Miami about getting power from the Turkey Point Nuclear Plant in Homestead, Fla., according to Gibbs. Miami Mayor Francis Suarez is said to beofferingthe plant to crypto mining firms as an inexpensive power source.
Related:Abkhazia to Punish Public Officials for Illegal Crypto Mining: Report
Compass allows individual miners to shop for a hosting facility and operates their mining hardware for them. In that sense, it operates as the Airbnb for facilities that host mining hardware. Gibbs said Compass aims to have as much of its mining network on carbon-free energy as possible.
Compass has distributed 0.5% of bitcoin’shashrateinto the hands of individualnodesaround the world and plans to capture 10% by the end of 2022, Gibbs said.
Compass now uses third-party facilities that hold power-purchase agreements and can dictate power prices.
“While the facility’s power cost might be $0.030-0.035/kWh (kilowatt hours), they sell to Compass customers for $0.055-0.065/kWh,” Gibbs explained.
With Oklo, however, Compass holds the power-purchase agreement, and Gibbs said he expects power costs to be between $0.02-0.04/kWh.
As Compass takes advantage of cheaper energy, Oklo gains a partner that can take up extra energy supply at various reactors, said Oklo CEO Jacob DeWitte. Oklo could eventually build reactors that are solely dedicated to bitcoin mining.
This is the first cryptocurrency company that Oklo has gained as a customer and the first nuclear energy deal that Compass has secured. The deal could serve as a “beacon” for the future intersection of cryptocurrency and clean-energy development, DeWitte added.
Unlike other commodities, bitcoin doesn’t require a great deal of infrastructure. Once the bitcoin is mined, the commodity can be instantly transported with no shipping costs.
“As demand might change by a few megawatts here and there, you can put that off into bitcoin mining,” DeWitte said.
Working with several microreactors as opposed to one large reactor also fits more neatly into the bitcoin ethos of decentralization, DeWitte added.
Oklo’s business model aims to buck the traditional economies of scale that conventional nuclear reactors have taken advantage of by building larger reactors over time versus smaller ones.
DeWitte said he believes nuclear fission has the potential to be the cheapest source of alternative energy, despite the complexity and high costs of building conventional reactors.
“When you think about it from cost and sustainability purposes, looking at all the tools at our disposal to make energy, fission requires the least materials over its lifecycle,” he said.
There are some physicists who disagree with him.
Traditional nuclear plants typically cost billions to build, and while smaller reactors cost less to build, they tend to be proportionally more expensive, said M. V. Ramana, a physicist at the University of British Columbia in Vancouver. A $15 billion reactor might produce 1,000 megawatts, but building a reactor that produces 1 megawatt won’t be a thousandth of the cost of $15 billion, he added.
The costs associated with nuclear energy also pale in comparison with the declining costs of renewable sources of energy such as solar and wind, which are set to become cheaper over the next decade, Ramana said.
“The cost of generating nuclear electricity today is roughly about four times the cost of generating solar or wind power,” Ramana said.
Costs increase over time for large and small plants, Ramana said. Nuclear energy companyNuScale Power, which builds reactors that produce about 60 megawatts of power, saw its costs increase significantly after it went through the regulatory process with the U.S. Nuclear Regulatory Commission (NRC), Ramana said.
It’s unlikely that Oklo would be approved to build by 2023 because its safety standards are unorthodox, said Edwin Lyman, a physicist with the Union of Concerned Scientists in Washington.
“The mindset of Oklo and some of these other new reactor companies is they just want the NRC to accept the reactor is going to be safer, essentially let them do whatever they want,” Lyman said.
DeWitte noted that Oklo has been accepted into the NRC’s review process, which “represents a high bar and therefore is a major step of itself.” Compass’ Gibbs said he sees a recent $2 millionawardfrom the Department of Energy as validation that Oklo will be able to build its microreactors on time.
CORRECTION (June 14, 14:19 UTC):An earlier version of this article stated that Compass had distributed 5% of bitcoin’s hashrate to individual nodes. The company has actually captured 0.5% of bitcoin’s hashrate.
• BIT Mining Raises $50M in Private Placement to Expand Overseas
• Chinese Miner The9 Reserves Facilities From Russia’s BitRiver || UPDATE 2-Bitcoin tops $40,000 after Musk says Tesla could use it again: * Musk flags Tesla may resume BTC transactions * Musk says Tesla sold about 10% of BTC holdings as liquidity test (Updates prices, adds details) By Tom Wilson and Tom Westbrook LONDON/SINGAPORE, June 14 (Reuters) - Bitcoin climbed above $40,000 on Monday, after yet another weekend of price swings following tweets from Tesla boss Elon Musk, who fended off criticism over his market influence and said Tesla sold bitcoin but may resume transactions using it. Bitcoin has gyrated to Musk's views for months since Tesla announced a $1.5 billion bitcoin purchase in February and said it would take the cryptocurrency in payment. He later said the electric car maker would not accept bitcoin due to concerns over how mining the currency requires high energy use and contributes to climate change. "When there's confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing Bitcoin transactions," Musk said on Twitter on Sunday. Bitcoin, which jumped nearly 10% on Sunday, breaking above its 20-day moving average, was up 4.3% on Monday at 40,692.27, its first foray above $40,000 in more than two weeks. "Musk's words caused bitcoin to surge," said Simon Peters, market analyst at eToro. Bitcoin was also supported Monday after billionaire hedge fund manager Paul Tudor Jones told CNBC on Monday that bitcoin is a great way to protect his wealth over the long run and is part of his portfolio just like gold. Bitcoin prices were also helped by software company and major bitcoin-backer MicroStrategy raising half a billion dollars to buy bitcoin, said Bobby Ong, co-founder of crypto analytics website CoinGecko. Bitcoin is up about 40% this year but has collapsed from a record peak above $60,000 amid a regulatory crackdown in China and Musk's apparently wavering enthusiasm for it. Tesla stock is down about 30% since the company's bitcoin purchase. Musk's tweet was made in response to an article based on remarks from Magda Wierzycka, head of cybersecurity firm Syngia , who in a radio interview last week accused him of "price manipulation" and selling a "big part" of his exposure. "This is inaccurate," Musk said. "Tesla only sold ~10% of holdings to confirm BTC could be liquidated easily without moving market." Musk had tweeted in May that Tesla "will not be selling any bitcoin" and "has not sold any bitcoin" but investors are keenly awaiting Tesla's next earnings update - due next month - for any disclosure of changes to its position. Musk has taken issue with the vast computing power required to process bitcoin transactions and in early June posted messages appearing to lament a breakup with bitcoin. (Reporting by Tom Westbrook in Singapore, Tom Wilson in London, and Saqib Iqbal Ahmed in New York; editing by Chizu Nomiyama and Jason Neely) View comments || How Does Cryptocurrency Work – and Is It Safe?: If you’ve been following the news, you undoubtedly know afew things about Bitcoin right now.
Find:Why Some Money Experts Believe In Bitcoin and Others Don’t
One: It’s a cryptocurrency.
Two: One Bitcoin is worth more than $40,000 in U.S. dollars, although the price fluctuates wildly day to day.
Three: Electric vehicle manufacturer Tesla recently invested in Bitcoin and announced it would soon allow people to purchase its cars using the cryptocurrency.
But, if you’re like many people, you’re still fuzzy on a few things, including exactly what cryptocurrency is, how it works and if it’s a safe way to invest your money.
See:Dogecoin’s Major Price Increase: Is It a Worthwhile Investment?Find:Bitcoin Is Pricey and Headed for a Crash – Consider These Smart Crypto Alternatives
Bitcoin was invented in 2009 as a form of digital currency. Unlike paper money or debit cards, which represent paper money the buyer holds in a bank, Bitcoin has no physical form. It’s all stored digitally, providing increased security over checks, paper money transactions and even other digital transactions, which, again, represent the exchange of paper money held in accounts.
As of Monday morning, Bitcoin’s value sits at $47,794, up approximately 20% since last week, according to Reuters. For perspective, in 2010, a single Bitcoin was worth only 8 cents in USD, Investopedia writes.
See:Long-Term Investors Hold Most of the Bitcoin SupplyThe Hype Around NFTs:What Are They? And How Pricey Do They Get?
Bitcoin was the first cryptocurrency, but today there are more than 6,700 cryptocurrencies traded on public markets, according to the website CoinMarketCap. Although Bitcoin and other cryptocurrencies are used for the exchange of goods and services on the private market, they are not considered legal tender like U.S. dollars and coins.
Some of the most common cryptos right now include Ethereum, Bitcoin Cash and Litecoin, which you can purchase through Paypal. Other, less common cryptos are termed altcoins. The most popular altcoin is Dogecoin, popularized by billionaire Elon Musk’s tweets. He recently shared, “Bought some Dogecoin for lil X, so he can be a toddler hodler.”
The tweet was accompanied by a video of Musk and singer Grimes’ infant son declaring, “Dadada!”
See:Musk Tweets Again and Dogecoin – a Bitcoin Rival – SkyrocketsOptions:All About Ethereum (ETH) — To Help You Decided If It’s Worth the Investment
“Cryptocurrency is a fully decentralized peer-to-peer electronic money implemented by cryptography,” says Rob Zel, founder of crypto exchange bitni.com. Due to their nature, cryptocurrencies are not regulated, which carries risk of market volatility and loss for investors. However, the security risks and risk of fraud when using Bitcoin and other cryptocurrencies are vastly reduced.
Also, due to the highly secure nature of transactions, purchases cannot be traced. That means individuals can use crypto to purchase illegal or highly regulated merchandise, including certain classes of drugs or firearms.
Cryptocurrencies use cryptography technology to keep transactions and coins secure. “Cryptography, or cryptology, is the practice and study of techniques for secure communication in the presence of third parties called adversaries. The most common form of cryptography is using codes to send messages securely between two individuals,” says Dr. Alexander Shipilov, CEO of iModX, a blockchain-based marketplace.
See:Crypto Bubble Brings a Curious Problem for InvestorsFind:What Are Digital Wallets?
Cryptocurrencies are traded by means of a blockchain, which Shipilov describes as “a way for multiple computers to come to a consensus about a set of information.” He says, “The most common use of a blockchain is to create a ledger of financial transactions between multiple individuals.”
Blockchains operate via cryptography, with each block in the chain cryptographically connected to the previous one. “The blockchain is stored and shared across a network of peer-to-peer nodes, similar to file-sharing torrents. The blocks are cryptographically secured against tampering. This makes it very difficult for nefarious parties to modify or shut down,” Zel says.
See:How to Invest in CryptocurrencyFind:The Most Googled Money Questions – Answered
So, thanks to blockchain technology, Bitcoin and other crypto transactions may be inherently more secure than other types of digital transactions, such as online banking, money transfers through digital wallets or peer-to-peer payment services. But it’s important to emphasize that these services all use state-of-the-art encryption technology to protect your funds digitally. Also, most banks offer fraud protection so that if your account is hacked, the bank will return your missing funds up to a certain amount, which varies by institution.
The technology used to keep crypto investments secure is also effective. In fact, it’s so secure that some people who invested in Bitcoin years ago have lost their password with no way to reset it. That wouldn’t happen with a regular bank account or peer-to-peer payment service, which offer ways to reset your online banking password so you can access your money.
See:Steal These Money Secrets from 25 Millionaires Under 25Find:How to Invest Your Money in 2021
Although your crypto investment is likely “secure,” that doesn’t mean it’s “safe” by any means. There are two elements that make cryptocurrency riskier than holding cash in a bank account: market volatility and lack of federal insurance and regulation.
When you hold your money in a bank account, it is FDIC-insured for up to $250,000 per depositor, per account class, per bank. That means if you have your own checking account with $100,000 in it, a savings account with $50,000 in it and a CD with a $100,000 investment, all within a single FDIC-insured bank, your funds are all protected by the Federal Deposit Insurance Corporation. If your bank goes out of business, you will not lose your money.
On the other hand, if something happens to the company holding your crypto, you could lose your entire investment.
See:Banks Might Treat Bitcoin Like ‘Real Money’ – These Experts Weigh the Pros and ConsFind:Mark Cuban – “Bitcoin is Exactly like the Dot Com Bubble”
Crypto, like stocks and other investments, also tend to fluctuate wildly. When you hold cash in a bank, the value of your money will fluctuate marginally based on inflation or deflation. That represents the value of the dollar. But it’s highly unlikely you would lose — or gain — large amounts of money overnight.
“Cryptocurrencies tend to be highly volatile,” Zel says. “In one day, a coin can move 20% or more. Some newly invented coins can jump 40x in their first few months.”
There’s another concern for those seeking a safe haven for their money. “Occasionally, a newly invented coin will be a complete scam and the founders will take the money from investors and disappear, leaving them holding a worthless token,” Zel says.
See:9 Investing Bubbles That Will Make You Rethink BitcoinFind:The Classic Cons Behind These Digital-Age Scams
Right now, Bitcoin and other cryptocurrencies are considered both an asset, traded like stocks, and a currency, used in the exchange of goods and services. However, high transaction fees and the volatility of the coins prevent its widespread adoption as a currency, Zel says.
You can use Bitcoin and other cryptos to make purchases, but it’s not always ideal.
See:PayPal Finally Welcomes Bitcoin, More Cryptocurrencies
Shipilov adds that the vast majority of cryptos right now are being treated as assets rather than currency. “They are being speculated on by investors who assume the asset will increase in value over a long-time horizon,” he says.
However, although people have gained millions through their Bitcoin investments in the past year, crypto may not be the best choice for beginning investors or those with low risk tolerance.
“Crypto are non-regulated assets with a high degree of volatility, limited government oversight, and the majority of cryptocurrency lose most or all their value extremely quickly, with over half failing in the first four months,” Shipilov warns.
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Last updated: Feb. 15, 2021
This article originally appeared onGOBankingRates.com:How Does Cryptocurrency Work – and Is It Safe? || Daily Gold News: Wednesday, June 23 – Gold Extends Consolidation Below $1,800: Thegoldfutures contract lost 0.31% on Tuesday, as it continued to fluctuate following $100 decline after last week’s FOMC Statement release. On June 1 gold price was the highest since early January. In April the market has bounced from the support level marked by March 8 local low of $1,663.30. Since then it has been advancing. This morning gold is trading slightly higher, as we can see on the daily chart (the chart includes today’s intraday data):
Right now gold is 0.3% higher, as it is extending a short-term consolidation. What about the other precious metals?Silveris 0.7% higher, platinum is 0.7% higher and palladium is 1.65% higher today.So precious metals’ prices are higher this morning.
The markets will be waiting fortoday’s importantPMI numbersreleases at 9:45 a.m. We will also have the New Home Sales number release and some Fed talk.
Below you will find ourGold, Silver, and Mining Stockseconomic news schedule for the next two trading days:
Wednesday, June 23
• 3:30 a.m. Eurozone – German Flash Manufacturing PMI, German Flash Services PMI
• 9:00 a.m. U.S. – FOMC Member Bowman Speech
• 9:45 a.m. U.S. –Flash Manufacturing PMI, Flash Services PMI
• 10:00 a.m. U.S. – New Home Sales
• 11:00 a.m. U.S. – FOMC Member Bostic Speech
• 12:00 p.m. Eurozone – ECB President Lagarde Speech
Thursday, June 24
• 4:00 a.m. Eurozone – German ifo Business Climate
• 8:30 a.m. U.S. – Final GDP q/q, Unemployment Claims, Durable Goods Orders m/m, Core Durable Goods Orders m/m, Final GDP Price Index q/q, Goods Trade Balance, Preliminary Wholesale Inventories m/m
• 9:30 a.m. U.S. – FOMC Member Bostic Speech
• 11:00 a.m. U.S. – FOMC Member Williams Speech
• 4:30 p.m. U.S. – Bank Stress Test Results
For a look at all of today’s economic events, check out oureconomic calendar.
Paul RejczakStock Selection 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
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• Why Tesla Stock Is Up By 5% Today || Goobit and Xpecunia Sign Collaboration Agreement on Green Cryptocurrency: STOCKHOLM, Sweden, June 17, 2021 (GLOBE NEWSWIRE) -- Goobit Group has signed a collaboration agreement with Xpecunia Nordic. The agreement gives Goobit exclusive rights across the Nordic countries to sell the cryptocurrency that Xpecunia Nordic extracts by means of green energy. This makes BTCX the first Nordic exchange platform to offer cryptocurrency uniquely produced with renewable energy. The company's goal is to work for a growing share of sustainably produced cryptocurrency on the BTCX-platform.
The Swedish crypto industry is now taking an important step towards a greener mining of cryptocurrencies. Through a new agreement with the mining experts Xpecunia, BTCX will be able to offer cryptocurrencies that have been mined using solar energy.
"BTCX is Sweden's oldest exchange for cryptocurrencies and thanks to a close collaboration with Xpecunia, we can now offer customers guaranteed green crypto assets," says Pär Helgosson, CEO of Goobit.
By focusing on building on solar power plants in direct connection to the mining premises, Swedish Xpecunia can produce crypto assets without generating direct carbon emissions – and the company already has several plants in Sweden. It is these solar-produced crypto assets that Goobit now will sell on the BTCX platform.
"In the next step, BTCX will introduce a framework and a methodology for certification of crypto mining where the producers need to meet a number of criteria in order to be certified," says Pär Helgosson.
"It also allows buyers of cryptocurrencies to be sure of its origin."
The Swedish countryside is excellent for crypto. Sweden's location is excellent for mining crypto with sun, wind and water, and the new investments are mostly made in rural environments, far from the big cities – and thus contribute to create jobs in the countryside both during construction, but also long-term to maintain facilities. There are great advantages off using the surplus energy in electricity production from solar cells to mine crypto assets.
"The creation of cryptocurrencies has so far been a form of arbitrage of electricity," says Daniel Moström, CEO of Xpecunia. "Now we are changing the equation completely. Xpecunia has a solution which eliminates the environmental problem, lowers electricity costs radically and dramatically increases profitability."
Work to make crypto mining more eco-friendly is ongoing all over the world. In China authorities cooperate to phase out coal power in crypto mining, and in the US, Elon Musk and the newly started Bitcoin Mining Council is at the forefront working to make renewable energy a basis for production.
"We wanted to buy locally produced goods," says Christian Ander, founder of BTCX. "Locally produced goods are good at all levels, this also applies to cryptocurrencies, and the advances in solar energy will revolutionize electricity production in crypto mining."
BTCX will also be able to report how large the share of sales of "green" cryptocurrencies is. The ambition is to transparently report future trends.
Contact person:
Pär Helgosson, CEO Goobit Group AB (publ), telephone: +46 70 978 80 00
[email protected]
About BTCX / Goobit Group
Goobit AB was registered in 2012 and is one of the world's first and Sweden's leading crypto exchange company. The company offers exchange services of SEK and EUR to the digital currencies' Bitcoin and Ether and has so far exchanged over 1.7 billion SEK. The company's most famous brands are BTCX Express and Standard BTCX. Goobit Group AB (publ) was registered in 2013 and is a group with operations in the wholly owned subsidiaries Goobit AB, Goobit Blocktech AB and Goobit Exchange AB. Goobit AB offers services for retail and corporate customers as well as financial institutions.
For more information, see Goobit's websitewww.goobit.se
About Xpecunia
Xpecunia extracts cruptocurrencies using self-produced solar energy. The extraction is continuously adapted with the support of a self-learning model to the volatile and rapidly changing development of cryptocurrencies to optimize the extraction and create the best possible return. Through proven profitability after three years of operation, Xpecunia aims to scale up the existing operations, to establish a new business area and generate increased margins with lower climate impact.
For more information, see Xpecunia's websitewww.xpecunia.se
Media Contact:
Company: Goobit Group
Contact: Pär Helgosson
Website: https://www.goobit.se/
Email:[email protected]
telephone: +46 70 978 80 00
Source:Goobit Group
[Random Sample of Social Media Buzz (last 60 days)]
None available.
|
Trend: up || Prices: 32313.11, 33581.55, 34292.45, 35350.19, 37337.54, 39406.94, 39995.91, 40008.42, 42235.55, 41626.20
|
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 2017-01-30]
BTC Price: 920.38, BTC RSI: 54.31
Gold Price: 1193.20, Gold RSI: 52.78
Oil Price: 52.63, Oil RSI: 51.61
[Random Sample of News (last 60 days)]
Bitcoin slides as China's central bank launches checks on exchanges: By John Ruwitch and Jemima Kelly
SHANGHAI/LONDON (Reuters) - China's central bank launched spot checks on leading bitcoin exchanges in Beijing and Shanghai, ratcheting up pressure on potential capital outflows and knocking the price of the cryptocurrency down more than 12 percent against the dollar.
The People's Bank of China (PBOC) said its probe of bitcoin exchanges BTCC, Huobi and OKCoin was to look into a range of possible rule violations, including market manipulation, money laundering and unauthorized financing. It did not say if any violations had been found.
Chinese authorities have stepped up efforts to stem capital outflows and relieve pressure on the yuan.
While the yuan lost more than 6.5 percent against the dollar last year, its worst performance since 1994, the bitcoin price has soared to near-record highs.
That, and the relative anonymity the digital currency affords, has prompted some to believe bitcoin has become an attractive option for tech-savvy Chinese to hedge against the yuan and skirt around rules limiting how much foreign exchange individuals can buy each year.
The PBOC in Beijing, where officers visited the offices of OKCoin and Huobi on Wednesday, said in a statement that "spot checks were focused on how the exchanges implement policies including forex management and anti-money laundering".
Separately in Shanghai, the PBOC said it visited BTCC, noting its checks "focused on whether the firm was operating out of its business scope, whether it was launching unauthorized financing, payment, forex business or other related businesses, whether it was involved in market manipulation, anti-money laundering or (carried) fund security risks."
On the Europe-based Bitstamp exchange, the price of bitcoin (BTC=BTSP) fell as much as 12.5 percent to a 3-week low of $800.
On China's Huobi exchange, the price slid more than 16 percent to 5,313 yuan (CNY=CFXS), equivalent to around $766, putting the yuan/bitcoin rate at a discount to the rate on dollar-based exchanges.
Normally, bitcoin trades at a premium in China, with a lack of trading fees encouraging volumes and boosting demand.
"Selling is being driven by China. The fear is that ... this investigation could lead to, worse-case scenario, funds being withheld from them (Chinese investors) or one of the exchanges being found to have acted improperly," said Charles Hayter, CEO of digital currency analytics firm Cryptocompare.
"This is a ratcheting up of the rhetoric from the Chinese authorities - instead of 'we're watching' you, it's now 'we're investigating' you," he said.
According to his analysis, Hayter says trading between the yuan and bitcoin accounted for around 98 percent of the total market in the past six months.
"The long term implications of this are positive as more rigor in the Chinese market only matures and brings respectability to the industry - but in the short term this could effect volumes which have been one of the key drivers of the recent rally," Hayter added.
"FRUITFUL MEETING"
Bobby Lee, CEO of Shanghai-based BTCC, confirmed the PBOC visit, but said he believed the company was not out of line.
"We're definitely vigilant. We think we are in compliance with all the current rules and regulations of running a bitcoin exchange in China," he told Reuters by phone.
"I wouldn't call it an investigation. I think they are working closely with us to learn more about our business model and the bitcoin exchange industry. We had a very fruitful meeting today," Lee said.
A Huobi executive, who declined to be named, confirmed the PBOC visited its office on Wednesday, but declined to provide details. A spokeswoman for OKCoin told Reuters its platform was operating normally, and the exchange was working with the authorities.
Last week, PBOC officials met with the three exchanges, and the central bank publicly urged investors to take a rational and cautious approach to investing in bitcoin.
(Additional reporting by Winni Zhou, Brenda Goh and Samuel Shen; Editing by Ian Geoghegan) || Bitcoin jumps above $1,000 for first time in three years: By Jemima Kelly LONDON (Reuters) - Digital currency bitcoin kicked off the new year by jumping above $1,000 for the first time in three years late on Sunday, having outperformed all central-bank-issued currencies with a 125 percent climb in 2016. Bitcoin - a web-based "cryptocurrency" that has no central authority, relying instead on thousands of computers across the world that validate transactions and add new bitcoins to the system - jumped 2.5 percent to $1,022 on the Europe-based Bitstamp exchange, its highest since December 2013. Though the digital currency has historically been highly volatile - a tenfold increase in its value in two months in late 2013 took it to above $1,100, before a hack on the Tokyo-based Mt. Gox exchange saw it plunge to under $400 in the following weeks - it has in the past two years been more stable. Its biggest daily moves in 2016 were around 10 percent, still very volatile compared with fiat currencies, but markedly lower than the trading of 2013, which saw daily price swings of as much as 40 percent. Bitcoin may have been boosted in the past year by increased demand in China on the back of a 7 percent annual fall in the value of the yuan in 2016, the Chinese currency's weakest showing in over 20 years. Data shows most bitcoin trading is done in China. Bitcoin is used to move money across the globe quickly and anonymously and does not fall under the purview of any authority, making it attractive to those wanting to get around capital controls, such as China's. It is also may appeal to those worried about a lack of supply of cash, such as in India, where Prime Minister Narendra Modi removed high-denomination bank notes from circulation in November. "The growing war on cash, and capital controls, is making bitcoin look like a viable, if high risk, alternative," said Paul Gordon, a board member of the UK Digital Currency Association and co-founder of Quantave, a firm seeking to make it easier for institutional investors to access digital currency exchanges. Though bitcoin is still some way off the all-time high of $1,163 that it reached on the Bitstamp exchange in late 2013, there are now more bitcoins in circulation - 12.5 are added to the system every 10 minutes. Its total worth is at a record-high above $16 billion, putting its value at around the same as that of an average FTSE 100 company. (Reporting by Jemima Kelly; Editing by Peter Graff) || Bitcoin 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.
CONTACT:
[email protected]
SOURCE: Bitcoin Services Inc. || 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) || 7 ETF Areas to Hog the Limelight in 2017: As 2016 comes to a close, Brexit, Donald Trump’s win as the U.S. president and the OPEC output cut deal are clearly the highlights of the year. However, there are plenty of other events that haven’t been able to leave a mark but could prove to be game-changers next year.
In view of this, we intend to highlight a few areas (and their impact on the ETF world) that are likely to draw investors’ attention in 2017.
Oil
The global investing world is expected to be busy analyzing the progress of the OPEC output cut deal since the start of 2017. On November 30, OPEC decided to slash production by about 1.2 million barrels a day from January for six months. Plus, on December 10, OPEC also cut their first deal with non-OPEC since 2001 to reduce output next year.
The pact will likely result in “an aggregate supply cut of 1.7 million barrels a day.” Some analysts like Goldman now believe that oil can scale higher to about $60 early next year from the current $50 plus level.
However, there are people who expect the deal to be not as effective as it seems now. Even if OPEC manages to be true to the deal, U.S. shale oil production will likely gain traction, bringing back oversupply into the market and weighing on oil prices.
All these should keep oil ETFs likeUnited States OilUSO, Brent crude ETFUnited States Brent OilBNO and energy ETFs likeEnergy Select Sector SPDR ETFXLE on investors radar (read: How Effective is the OPEC Deal for an Oil ETF Rally?)
Trump vs Fed
Trump has raised hopes of fiscal reflation and taken stocks to a new height. If he keeps all his promises after taking presidential office and inflationary expectations continue to surge, the Fed might be able to implement the three forecasted rate hikes in 2017 (read: Sole Fed Hike of 2016 Put These ETFs in Focus).
And if the Fed opts for faster rate hikes next year, bond ETFs likeiShares 20+ Year Treasury BondTLT and dividend ETFs likeSPDR S&P Dividend ETFSDY may face pressure. Meanwhile,ProShares High Yield—Interest Rate Hedged ETFHYHG or inverse bond ETFs likeBarclays Inverse US Treasury Aggregate ETNTAPRare poised to benefit (read: Hedged & Inverse Bond ETFs to the Rescue if Rates Rise).
Global Inflation
Inflationary outlook is finally shoring up in developed economies, albeit slowly. Prolonged easy money policies by global central banks, the OPEC move and the Trump effect made it happen. Expectations of a spurt in global inflation are now at the highest level in over 12 years. Global TIPS ETF –PIMCO Global Advantage Inflation-Linked Bond Active ETF ILB– will thus be on the watch list of investors (read: Will 2017 Be a Year of Global Reflation & TIPS ETFs?).
Commodity
Now that’s tricky! If the greenback retains its strength, commodity investing should take a backseat as these are priced in the U.S. dollar. However, several industrial metals should do well on better demand-supply dynamics. This is especially possible given the recovery in the global manufacturing activities including the all-important China, which consumes a major portion of the global industrial metals. So, ETFs likeiPath Pure Beta Aluminum ETNFOIL,iPath Pure Beta Copper ETNCUPM andiPath Bloomberg Tin SubTR ETNJJT will likely grab the spotlight.
Cyber Security
Cyber security breaches are on the rise of late. This has compelled companies to invest billions of dollars annually to counter such attacks. Most recently, the hack on Yahoo which revealed data from over 1 billion accounts once again stressed on the need for cybersecurity and has putFirst Trust NASDAQ Cybersecurity ETFCIBR andPureFunds ISE Cyber Security ETFHACK in focus.
India
India’s pro-growth political changes in 2014 had shaped it into a hot investing zone. Most economic episodes also went in favor of Asia’s third-largest economy, including a drastic fall in inflation arising from the oil price crash and an improvement in current account deficit. Moreover, due to cooling inflation, the Indian central bank (RBI) resorted to rate cuts several times in the last one and a half years.
However, most recently, in order to put a check on tax evasion and counterfeit notes, high-denomination bank notes were withdrawn in India. This resulted in cash crunch and growth forecast cuts by some analysts. Fitch rating reduced India’s GDP forecast to 6.9% from the prior estimate of 7.4% for the current financial year.
But then, Moody's indicated that Indian companies will likely witness “the strongest profit growth over 18 months.” Now it would be interesting to see if India ETFs likeWisdomTree India Earnings ETFEPI can survive the threats from demonetization in 2017 (read: What Lies Ahead for India ETFs?).
Bitcoin
Even if we are yet to have a bitcoin ETF, one is expected to hit the market in 2017. Winklevoss Bitcoin Trust has filed for one to make it easy for investors to bet on this soaring digital currency. As per CNBC, “bitcoin is a very volatile asset” but doesn’t have a strong correlation with other classes. Bitcoin’s value has beaten the $800 mark for the first time since February 2014.
India's demonetization also gave a boost to bitcoin trading volumes. Moreover, trading volumes in China have been solid with the government taking proactive measures against illegal money transfer. With this, investors expect to see an approval of the first bitcoin ETF in 2017.
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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportISHARS-20+YTB (TLT): ETF Research ReportsUS-OIL FUND LP (USO): ETF Research ReportsPURFDS-ISE CYBR (HACK): ETF Research ReportsUS BRENT OIL FD (BNO): ETF Research ReportsSPDR-EGY SELS (XLE): ETF Research ReportsPIMCO-GA ILBETF (ILB): ETF Research ReportsIPATH-PB ALUMNM (FOIL): ETF Research ReportsSPDR-SP DIV ETF (SDY): ETF Research ReportsIPATH-BB TIN (JJT): ETF Research ReportsFT-NDQ CYBERSEC (CIBR): ETF Research ReportsBARCLY-INV USTC (TAPR): ETF Research ReportsWISDMTR-IN EARN (EPI): ETF Research ReportsIPATH-PB COPPER (CUPM): ETF Research ReportsPRO-HI YLD IRH (HYHG): ETF Research ReportsTo read this article on Zacks.com click here.Zacks Investment ResearchWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report || 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) || 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 || 7 ETF Areas to Hog the Limelight in 2017: As 2016 comes to a close, Brexit, Donald Trumps win as the U.S. president and the OPEC output cut deal are clearly the highlights of the year. However, there are plenty of other events that havent been able to leave a mark but could prove to be game-changers next year. In view of this, we intend to highlight a few areas (and their impact on the ETF world) that are likely to draw investors attention in 2017. Oil The global investing world is expected to be busy analyzing the progress of the OPEC output cut deal since the start of 2017. On November 30, OPEC decided to slash production by about 1.2 million barrels a day from January for six months. Plus, on December 10, OPEC also cut their first deal with non-OPEC since 2001 to reduce output next year. The pact will likely result in an aggregate supply cut of 1.7 million barrels a day. Some analysts like Goldman now believe that oil can scale higher to about $60 early next year from the current $50 plus level. However, there are people who expect the deal to be not as effective as it seems now. Even if OPEC manages to be true to the deal, U.S. shale oil production will likely gain traction, bringing back oversupply into the market and weighing on oil prices. All these should keep oil ETFs like United States Oil USO, Brent crude ETF United States Brent Oil BNO and energy ETFs like Energy Select Sector SPDR ETF XLE on investors radar (read: How Effective is the OPEC Deal for an Oil ETF Rally?) Trump vs Fed Trump has raised hopes of fiscal reflation and taken stocks to a new height. If he keeps all his promises after taking presidential office and inflationary expectations continue to surge, the Fed might be able to implement the three forecasted rate hikes in 2017 (read: Sole Fed Hike of 2016 Put These ETFs in Focus). And if the Fed opts for faster rate hikes next year, bond ETFs like iShares 20+ Year Treasury Bond TLT and dividend ETFs like SPDR S&P Dividend ETF SDY may face pressure. Meanwhile, ProShares High YieldInterest Rate Hedged ETF HYHG or inverse bond ETFs like Barclays Inverse US Treasury Aggregate ETN TAPR are poised to benefit (read: Hedged & Inverse Bond ETFs to the Rescue if Rates Rise). Story continues Global Inflation Inflationary outlook is finally shoring up in developed economies, albeit slowly. Prolonged easy money policies by global central banks, the OPEC move and the Trump effect made it happen. Expectations of a spurt in global inflation are now at the highest level in over 12 years. Global TIPS ETF PIMCO Global Advantage Inflation-Linked Bond Active ETF ILB w ill thus be on the watch list of investors (read: Will 2017 Be a Year of Global Reflation & TIPS ETFs?). Commodity Now thats tricky! If the greenback retains its strength, commodity investing should take a backseat as these are priced in the U.S. dollar. However, several industrial metals should do well on better demand-supply dynamics. This is especially possible given the recovery in the global manufacturing activities including the all-important China, which consumes a major portion of the global industrial metals. So, ETFs like iPath Pure Beta Aluminum ETN FOIL, iPath Pure Beta Copper ETN CUPM and iPath Bloomberg Tin SubTR ETN JJT will likely grab the spotlight. Cyber Security Cyber security breaches are on the rise of late. This has compelled companies to invest billions of dollars annually to counter such attacks. Most recently, the hack on Yahoo which revealed data from over 1 billion accounts once again stressed on the need for cybersecurity and has put First Trust NASDAQ Cybersecurity ETF CIBR and PureFunds ISE Cyber Security ETF HACK in focus. India Indias pro-growth political changes in 2014 had shaped it into a hot investing zone. Most economic episodes also went in favor of Asias third-largest economy, including a drastic fall in inflation arising from the oil price crash and an improvement in current account deficit. Moreover, due to cooling inflation, the Indian central bank (RBI) resorted to rate cuts several times in the last one and a half years. However, most recently, in order to put a check on tax evasion and counterfeit notes, high-denomination bank notes were withdrawn in India. This resulted in cash crunch and growth forecast cuts by some analysts. Fitch rating reduced Indias GDP forecast to 6.9% from the prior estimate of 7.4% for the current financial year. But then, Moody's indicated that Indian companies will likely witness the strongest profit growth over 18 months. Now it would be interesting to see if India ETFs like WisdomTree India Earnings ETF EPI can survive the threats from demonetization in 2017 (read: What Lies Ahead for India ETFs?). Bitcoin Even if we are yet to have a bitcoin ETF, one is expected to hit the market in 2017. Winklevoss Bitcoin Trust has filed for one to make it easy for investors to bet on this soaring digital currency. As per CNBC, bitcoin is a very volatile asset but doesnt have a strong correlation with other classes. Bitcoins value has beaten the $800 mark for the first time since February 2014. India's demonetization also gave a boost to bitcoin trading volumes. Moreover, trading volumes in China have been solid with the government taking proactive measures against illegal money transfer. With this, investors expect to see an approval of the first bitcoin ETF in 2017. 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 report ISHARS-20+YTB (TLT): ETF Research Reports US-OIL FUND LP (USO): ETF Research Reports PURFDS-ISE CYBR (HACK): ETF Research Reports US BRENT OIL FD (BNO): ETF Research Reports SPDR-EGY SELS (XLE): ETF Research Reports PIMCO-GA ILBETF (ILB): ETF Research Reports IPATH-PB ALUMNM (FOIL): ETF Research Reports SPDR-SP DIV ETF (SDY): ETF Research Reports IPATH-BB TIN (JJT): ETF Research Reports FT-NDQ CYBERSEC (CIBR): ETF Research Reports BARCLY-INV USTC (TAPR): ETF Research Reports WISDMTR-IN EARN (EPI): ETF Research Reports IPATH-PB COPPER (CUPM): ETF Research Reports PRO-HI YLD IRH (HYHG): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report || 5 Trends That Venture Capitalists Will Have Their Eye On In 2017: With every new year comes a tide of new and exciting technologies looking to carve out their own niche in the fabric of society. Whether these innovations, and the companies behind them, actually succeed depends on a lot of factors. One of the main driving forces behind innovation is finding capital to grow the business behind the technology. With that in mind, here are five of the hottest trends in tech that smart venture capitalists will be keeping an eye out for in 2017. Augmented and virtual reality While 2016 saw the rapid introduction and growth of AR and VR devices and apps, expect 2017 to have even more offerings as companies refine and expand their implementation of the technology. The application of the technology has so far been monopolized by the videogame and entertainment sectors. However, savvy investors are eagerly anticipating the expansion of virtual and augmented reality other fields. When this happens, the way consumers interact with this technology will change as new companies and peripherals begin to compete for a growing market. Take Cimagine , a crowdfunded startup that combines augmented reality with e-commerce. Investors should be on the lookout for peripheral companies making use of this technology. Advertising tech An ongoing puzzle that marketing firms and digital content providers continue to struggle with is how to get their advertisements in front of the right eyeballs at the right time and through the right medium. Enter ad tech, which aims to solve that question in the shifting sands of digital media and consumer habits. And while the current digital ad market is currently dominated by the likes of Facebook Inc (NASDAQ: FB ) and Alphabet Inc (NASDAQ: GOOG ) (NASDAQ: GOOGL ), startups like Ubimo and Shopial are trying to make it easier for others to get in on the action. Investors who can find a firm with an innovative framework to tackle the extremely complex problem of effectively monetizing digital advertising will have a stake in field that will only see growing demand in the future. Story continues Cybersecurity and Defense Given the current political and corporate climate surrounding unauthorized access to sensitive digital information like credit card data or personal records, expect 2017 to be a big year for companies developing new ways to safeguard against cyber attackers. Investors should be on the lookout for innovations that aim to simplify data networkslike CyberX in order to more easily detect and halt malware infiltration and hacking attempts before they breach a companys system. It could also pay to be aware of advances in software in development to counteract the hazard of losing important data to ransomware. The pace of cybersecurity R&D and innovation is faster than at any time in history and the advancements are considerable, said cybersecurity advisor Ron Moritz, noting that venture capital investment in cybersecurity has increased from $1 billion in 2011 to over $4 billion in 2016. Artificial Intelligence Nothing quite screams future tech like Artificial intelligence. But as a the prospect of thinking machines has evolved from sci-fi to fact, the scope of the technology within the real world has also changed drastically. As a result, artificial intelligence can be viewed as more of a catchall term to indicate how well a computer can adapt to, and function, in a variety of tasks conventionally performed by humans. Whats interesting about AI is how broadly applicable it is across industries. Technology companies like Alphabet Inc (NASDAQ: GOOG ) (NASDAQ: GOOGL ) and Amazon.com (NASDAQ: AMZN ), use AI, but so does Zebra (a medical company) and BillGuard (a fintech company) to the technology behind self-driving cars. Decentralized Banking Databases As more of the worlds banking activity occurs over the Internet, and cryptocurrency earns greater prominence, ensuring the record and security of those digital transactions has become a global economic concern. Because of this, companies like the Bitcoin banking company Blockchain and equity marketplace EquityX have surged as leaders in secure and intuitive online banking. The technology behind these companies that manage and secure ledgers of online transactions is still being refined. The demand for advancements in the database process will only grow as investors and individuals continue to traffic into digital banking. To get a full breakdown of startups in these fields, check out OurCrowd. See more from Benzinga Avoid The Student Loan Crisis Facing Retirees Akorn Cracks Open A Buy Rating With Vetr As Price Rises, Vetr Bumps Philip Morris Down To A Buy © 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 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)
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[Random Sample of Social Media Buzz (last 60 days)]
MMMBTC || MMMBTC || A la venta Celulares ZTE Maven Z812, Liberados, Nuevos en su Empaque, #Lara Paga con #Bitcoin #Paypal #AmazonGiftpic.twitter.com/7xfDPPhtaK || ¡El último El Diario de Marketing, Negocios y Bitcoin! http://paper.li/HumoAlex/1471306393?edition_id=7232d7c0-c5a1-11e6-95ce-0cc47a0d164b … Gracias a @LanZate_ #socialmedia #salud || #Blockchain Making Blockchain Real for Enterprises: The Importance of Tokenization http://dlvr.it/MwJM6g #bitcoin #fintechpic.twitter.com/3PcxRoPGUF || Bitcoin was the clear winner among currencies this year https://www.fxinter.net/en/free-realtime-forex-news.aspx?ID=181671&direct=Bitcoin+was+the+clear+winner+among+currencies+this+year … || $866.01 at 12:30 UTC [24h Range: $859.00 - $899.73 Volume: 5572 BTC] || Actress Caught In An Oops Moment - Her Towel Did Not Come To Her Rescue <NAiV> http://www.btcgallery.com/07af5acda607 || Caught Them Squatting <&WK*> http://www.btcgallery.com/07af5ad0aa6e || MMMBTC
|
Trend: up || Prices: 970.40, 989.02, 1011.80, 1029.91, 1042.90, 1027.34, 1038.15, 1061.35, 1063.07, 994.38
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2022-06-01]
BTC Price: 29799.08, BTC RSI: 43.55
Gold Price: 1843.30, Gold RSI: 44.07
Oil Price: 115.26, Oil RSI: 60.22
[Random Sample of News (last 60 days)]
Massachusetts man charged with threatening school shooting in Facebook post: A man in Massachusetts was arrested and accused of threatening to commit a mass shooting at a school, according to local police. Justin Moreira, 29, of Hyannis, was arrested on Saturday after Barnstable and Yarmouth police received multiple reports that a man was threatening a school shooting on Facebook . WPRI reports that investigators obtained a search warrant for Mr Moreira's home. They found no firearms there, according to police. Mr Moreira has been charged with making terroristic threats and has been ordered to be held without bail. He'll appear in Barnstable District Court on Tuesday. Police said that the investigation into his threats are ongoing and that anyone with further information regarding the threats should report what they know. According to Cape Wide News , Mr Moreira has a criminal record, including a prior federal convictions for illegally buying a firearm and a silencer. During that incident, Mr Moreira was reportedly charged with purchasing the firearms over a "darknet market." The website he allegedly used operates on the dark web and an undercover agent secured messages showing Mr Moreira inquiring about the potential purchase of several different firearms. The man reportedly settled on a Walther PPK/S .380 calibre pistol and a silencer, which he bought using $2,500 worth of Bitcoin. In 2016, Mr Moreira was sentenced to 42 months in prison after pleading guilty to three counts of felony possession of ammunition and firearms. Mr Moreira's arrest comes nearly a week after an 18-year-old man attacked Robb Elementary School in Uvalde, Texas. The gunman killed 19 students — all fourth graders — and two faculty members at the school. He was eventually killed by Border Patrol agents after spending nearly 90 minutes inside the classroom. Mass shooters have occasionally used social media to telegraph — or in some cases, broadcast — their attacks. Prior to the Uvalder shooting, the gunman reached out to a girl he had been chatting with over an app to tell her that he shot his grandmother and that he planned to shoot up an elementary school. Story continues Weeks before the Uvalde shooting another gunman attacked a predominantly Black neighborhood grocery store and live-streamed the shooting on a helmet mounted camera. He killed 10 people in his attack. Another mass shooting, which took place between two mosques in New Zealand, live-streamed his attack for 17 minutes over Facebook Live. Often in these instances the footage stays online for hours before the platforms where they're hosted remove them. By that point, those sympathetic to the shooters or the morbidly curious will often have made copies to share among other online in private communities. However, some people — like Mr Moreira — post their threats to social media ahead of time. In some cases those threats are acted upon and a potential shooter is thwarted. Others, like shooter Elliot Rodger, posted numerous videos to hosting platforms, including one explaining why he was about to carry out a shooting. || Bitcoin and ETH Recovery Won’t Be Easy, NEAR Eyes Fresh Uptrend: • Bitcoin traded below the key $35,000 and $34,200 support levels.
• Ether (ETH) settled below the $2,500 pivot level.
• NEAR is up over 5% and could extend gains above $12.
Recently, thebitcoin(BTC) price started a major decline below the $38,000 level. The price declined sharply below the $35,000 support zone and the 21 simple moving average (H1).
The bears even pushed the price below the $34,000 level. It traded close to the $32,500 zone and is currently consolidating losses. On the upside, the price is facing resistance near $33,350. There is also a key bearish trend line forming with resistance near $33,500 on the hourly chart.
The price must clear $33,500 and the 21 simple moving average (H1) to start a recovery wave. If not, it could dive further below $32,000.
ETHalso followed a bearish path below the $2,750 support. There was a steady decline below the $2,600 and $2,500 levels.
Ether price even declined below the $2,400 level and settled below the 21 simple moving average (H1). It is now consolidating losses near the $3,400 level. On the upside, the price is facing resistance near $2,450 and a connecting bearish trend line on the hourly chart.
The price must clear $2,450 and the 21 simple moving average (H1) to start a recovery wave. If not, the bears might aim a move toward the $2,200 level.
NEARstarted a major decline after it failed to surpass the $20.00 resistance. The price declined steadily below the $15.00 level and the 21-day simple moving average.
There was a break below a crucial bullish trend line with support near $14.20 on the daily chart. However, the bulls appeared near the $10.00 support zone. The price is now forming a base above the $10.00 level.
It is up over 5% today despite a steady decline in bitcoin and ether. If NEAR clears the $12.00 resistance, it could rise towards the $13.20 resistance and the 21-day simple moving average.
If the bulls manage to push the price above the $13.20 resistance zone, the price could start a major increase. The next major resistance could be near the $15.00 level. If not, the price might continue to move down below the $10.00 level.
Cardano (ADA)declined over 10% and there was a close below $0.70. If there are more losses, the price could even test the $0.60 level.
Binance Coin (BNB)is slowly moving lower towards the $320 support zone. If the bears remain in action, the price could test the $300 level.
Polkadot (DOT)is down 10% and there was a break below the $12.00 level. The next major support is near $11.50, below which the price might test $11.20.
A few trending coins areWAVES,AXS, andWAVES is gaining pace. Out of these, WAVES is gaining pace above the $14.00 level.
Thisarticlewas originally posted on FX Empire
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• U.S. SEC extends comment period on climate risk proposal || 7 Growth Stocks That Could Go Parabolic by 2023: As investors in recent months turned bearish momentum on growth stocks, several are at too-cheap levels, creating entry opportunities ahead of a parabolic move over the next year. Marvell Technology ( MRVL ): Strong cloud demand and growing market share make MRVL a great growth stock from current levels. Li Auto ( LI ): With a solid cash position and a sturdy top-line growth, the electric vehicle stock is close to profitability, providing support for its shares. Zscaler ( ZS ): Robust demand for cloud security solutions, will continue to sustain ZSs rapid top-line growth Bill.com ( BILL ): The strong top-line growth expected this year and the constructive Wall Street analyst view could make this stock go parabolic in the next year. Cloudflare ( NET ): The globally diversified cloud specialist has sufficient cash on hand and is enhancing EBITDA and bottom-line figures. RingCentral ( RNG ): RNGs stock correction is an opportunity to get on board this leading cloud communication company. Coinbase ( COIN ): The cryptocurrency exchange underperformed its market and is expected to turn a profit in 2023, providing tailwinds for the stock Growth stocks are often expensive in terms of valuation multiples, but if expectations are matched these stocks can generate sturdy capital gains. These stocks grow at a faster clip than their respective markets and can be great long-term investments. Growth stocks are also associated with high risks, that can trigger powerful drawdowns if the companies miss market growth expectations. Besides, some companies focus on growing revenues at any cost, which can be unproductive, especially in todays equity market. 7 A-Rated Dividend Stocks to Buy Forever In the past few months, investors walked away from growth stocks, preferring to invest in value stocks that tend to resist better in monetary tightening and inflationary economic conditions. This has accentuated the bearish momentum on these investments, creating opportunities to buy growth stock at cheaper prices. Story continues InvestorPlace - Stock Market News, Stock Advice & Trading Tips In this context, here is a selection of stocks that could go parabolic by 2023. MRVL Marvell Technology, Inc. $61.06 LI Li Auto Inc. $22.12 ZS Zscaler, Inc. $213.59 BILL Bill.com Holdings, Inc. $182.70 NET Cloudflare, Inc. $95.25 RNG RingCentral, Inc. $87.44 COIN Coinbase Global, Inc. $122.69 Marvell Technology, Inc. (MRVL) image of the marvell (MRVL) technologies office campus Source: Michael Vi / Shutterstock.com Marvell Technology (NASDAQ: MRVL ) specializes in designing and marketing integrated communications and storage circuits intended for manufacturers of high-speed network equipment, hard disk, and consumer electronics. Since the beginning of the year, MRVL stock dipped 33.72% to $59.20 per share, after investors dumped the growth stock. Nevertheless, Marvell recently announced that it has more than doubled Cloud Data Center Ethernet Switch Port Shipments over the year, reaching a record high market share of 31% in Q4 2021. Despite this poor performance, Marvell is expected to grow fast in the next two years, as demand for its cloud solutions remains sustained. Net sales are projected to advance 50.3% to $4.46 billion in 2022 and 46.7% to $6.1 billion in 2023. On the other side, MRVLs bottom line is estimated to weaken in 2022, posting a net loss of $421 million, before rebounding solidly in 2023 to $291 million. With this rebound, net margins are projected to advance to 4.76% per year, boosting MRVLs stock price. Besides, the tech company is well balanced, with net debt of only $444 million in 2021, representing a low leverage ratio of 0.48x. Moreover, analysts are bullish on the growth stock , offering a 12-month average target price of $91.2 or 57.59% appreciation potential. The valuation metrics of the company are however quite stretched, with a forward EV/EBITDA of 20.4x and a price-to-book multiple of 3.02x. Li Auto Inc. (LI) A front view of the Li Xiang One SUV from Li Auto (LI). Source: Carrie Fereday / Shutterstock.com Li Auto (NYSE: LI ) is a China-based new energy vehicles (NEV) maker principally engaged in the design, development, manufacture, and sales of smart electric cars. LI stock value has shrank more than 30% year-to-date to $22.12 per share, following declining investor interest in Chinese tech stocks prompted by Beijings crackdown on the industry. Despite these impending regulatory risks, LI Auto has grown at a fast clip in the past years and is expected to continue on this path. Revenues are projected to lift by 93.2% in 2022 to CNY 52.1 billion ($7.86 billion) and by 69.2% to CNY 88.2 billion in 2023. The company remains unprofitable, with an expected net loss of CNY 691 million in 2022, nevertheless, analyst projections indicate that it should turn things around in 2023, posting a net income of CNY 1.52 billion. If the Chinese EV giant maintains this guidance, the growth stock could go parabolic in 2023, providing strong support for the stock. 7 Biggest Loser Stocks That Could Become Surprising Buys Besides, Li Auto has sufficient cash on hand to deliver on its growth prospects, with a net cash position of CNY 10.6 billion at the end of 2021. Despite that and even if the stock declined by more than 30% over the year, LI stock is expensive, exchanging at a massive forward EV/EBITDA of 282x and a 2022e P/B ratio of 3.74x. Analysts maintain a constructive view on LI stock , offering a target price of $42.24 per share, an upside of 96.37% from todays price. Zscaler, Inc. (ZS) Zscaler (ZS) logo on building with parking lot in foreground Source: Michael Vi / Shutterstock.com Zscaler (NASDAQ: ZS ) is a cloud security platform, designed on a zero-trust architecture. ZS stock lost 29.94% year-to-date to $209.02 per share, providing a cheaper entry point for investors looking to enter this fast-growing company. The cloud specialist released a research report earlier this month, showing a 400% increase in the past 12 months of phishing attacks on retail and wholesale industries. With these findings, ZSs cloud security solutions should get a boost, sustaining its fast top-line growth. In 2021, Zcalers net sales advanced rapidly, up 56.1% to $673 million. Going forward, revenues are estimated to grow 56.3% to $1.05 billion this year and 36% to $1.4 billion in 2023. The bottom line is expected to deteriorate this year, posting a net loss of $372 million versus $262 million last year. Despite that, ZSs EBITDA is projected to advance at a fast rate this year, up 28.7% to $139 million. In addition, the company has sufficient cash to grow its activity, with a net cash position of $589 million at the end of 2021 that is expected to increase 20.5% in 2022 to $710 million. The growth stock has a moderate buy rating according to Wall Street analysts and the average target price stands at $311.22 per share offering a potential upside of 45.41%. The cloud security stock is however expensive, exchanging at 202x forward EV/EBITDA and 49.8x 2022e P/B. Bill.com Holdings, Inc. (BILL) Source: Shutterstock Bill.com (NYSE: BILL ) is a leading provider of cloud-based software that simplifies back-office financial operations for small and midsize businesses (SMBs). Since the beginning of the year, BILL stock declined more than 20% to $182.70 per share, amid tough market conditions for tech stocks and growth stocks. The growth stock was beaten by the market participants due to weak profitability. BILLs net loss reached $987 million in 2021 , but is expected to reduce to $308 million this year. The software company is however growing at a fast clip. After growing 50.6% to $238 million in 2021, revenues are projected to bounce 149.6% to $594 million in 2022 and by another 35.7% to $806 million in 2023. 7 A-Rated Dividend Stocks to Buy Forever Besides, Bill.com has a comfortable balance sheet. The net cash position of the company is expected to reach $1.03 billion this year, providing a wide cushion of security to extend its operations in the next years. Recently, insiders sold a chunk of BILL stock , indicating that the company continues to be overvalued. This is not a surprise given that the company trades at elevated multiples, posting a forward EV/revenue of 28.4x and 2022e P/B of 4.65x. Cloudflare (NET) An illustration a Cloudflare (NET) logo is seen displayed on a smartphone Source: IgorGolovniov / Shutterstock.com Cloudflare (NYSE: NET ) is a global cloud services provider that delivers a range of services from security to software-as-a-service applications. NET stock lost 28.19% year-to-date to $90.59, outpacing the decline of tech stocks. Cloudflares top-line growth is projected to remain solid in the next two years. Net sales are expected to jump 42.1% to $932 million this year and 32.7% to $1.23 billion in 2023. The bottom line of the cloud service specialist is also expected to improve. After posting a net loss of $260 million in 2021, NET is projected to reduce yearly losses to $189 million this year. Despite that, Cloudflare is expected to nearly double EBITDA this year to $103 million, offering a positive operating margin of 1.35% over the year. The company had a healthy cash position of $663 million at the end of 2021. However, Cloudflares multiples remain elevated, with a 2022e EV/revenue of 31.1x and a P/B ratio of 40.2x. Besides and even if NET stock is expected to remain profitless in the next two years, analysts are bullish on the rapidly growing stock, delivering an average target in the next 12 months of $153.44 per share , representing an upside of 69.38%. RingCentral, Inc. (RNG) The RingCentral (RNG) mobile app is displayed on a smartphone screen. Source: OpturaDesign/Shutterstock.com RingCentral (NYSE: RNG ) is one of the leading providers of Unified Communications as a Service (UCaaS) solutions, providing global enterprise cloud communications, video meetings, collaboration, and contact center software-as-a-service (SaaS) solutions. RNG stock plunged 56.44% since the beginning of the year to $83.82 per share, establishing the worst performance of our selection of growth stocks. Despite that, the company beat earnings per share and revenue estimates in the last four quarters, indicating a strong execution for this tech company. RNG is growing at a rapid pace. After expanding 34.7% to $1.59 billion in 2021, revenues are projected to advance another 26.1% in 2022 to $2.01 billion and by 24.4% to $2.5 billion the following year. 7 Biggest Loser Stocks That Could Become Surprising Buys The bottom line of the company however expected to deteriorate in 2022, posting a net loss of $437 million versus a yearly loss of $376 million last year. Moreover, RNG stock is the most leveraged of our list of growth stocks. Net debt established at $1.13 billion in 2021, representing an elevated leverage ratio of 5.14x, nevertheless, analysts expect a reduction in RingCentrals debt this year, down 10.9% to $1 billion. In addition, RNG stock has high valuation metrics, exchanging at a forward EV/EBITDA of 36.5x and a P/B of 13.1x. Yet, Wall Street analysts are constructive on the equity story , offering an average target price of $211.59 per share, an upside of 152.43% from todays close. Coinbase Global, Inc. (COIN) The app for Coinbase (COIN) displayed on an iPhone screen. Source: OpturaDesign / Shutterstock.com Coinbase (NASDAQ: COIN ) is a financial technology company that provides end-to-end financial infrastructure and technology for the crypto economy. COIN stock plunged more than 50% year-to-date to $122.69 per share, outpacing the consolidation of cryptocurrency assets and growth stocks. Revenues of the cryptocurrency exchange platform are expected to moderately decrease this year, down 7.7% to $7.23 billion, but are estimated to rebound in 2023, up 19.2% to $8.63 billion. After registering a solid year in 2021, with a net profit of $3.62 billion, corresponding to a net margin of 46.2% , analysts expect COIN stock to deliver a net loss of $271 million, explaining the sharp decline in its market capitalization. Despite that, net income is projected to turn positive in 2023, and with the volatility in cryptocurrency assets, COIN stock is a buying opportunity at these prices. Moreover, Coinbase is well-capitalized, with a net cash position of $3.3 billion in 2021, which is forecasted to advance robustly this year, up 47.4% year-on-year to $4.88 billion. In addition, analysts give a moderate buy for the cryptocurrency specialist and offer an average target price of $275.70 per share , representing an appreciation potential of 125.02% in the next 12 months. On the date of publication, Cristian Docan 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 doesnt matter if you have $500 in savings or $5 million. Do this now. Get in Now on Tiny $3 Forever Battery Stock Early Bitcoin Millionaire Reveals His Next Big Crypto Trade On Air The post 7 Growth Stocks That Could Go Parabolic by 2023 appeared first on InvestorPlace . || British Pound Continues to Break Higher Against Yen: British Pound vs Japanese Yen Technical Analysis The British pound rallied significantly during the trading session on Monday to break above the ¥163 level. By doing so, it looks as if the market is doing everything it can to break higher, and continue to threaten the ¥165 level above, which is a major barrier to overcome. Ultimately, this is a market that is taking its cue from the Japanese yen, as it continues to get sold off against almost everything. Beyond that, this is a market that is also influenced quite drastically by risk appetite, so if risk appetite continues to climb for any reason whatsoever, is likely that people will pile into the upside again. On the downside, the market is likely to see a lot of noisy behavior, especially near the ¥162.50 level, an area that has seen a little bit of short-term resistance. I anticipate that there would be buyers in that region, based on market memory. If we were to break down below the bottom of the candlestick for the trading session on Monday, then it is likely that we could go looking towards the ¥160 level underneath, an area that extends support down to the ¥159 level. If we were to break out above the ¥165 level, that would be a huge barrier overcome, and a lot of traders would pay close attention to it. For what it is worth, the USD/JPY pair has already pierced a major barrier, and it is likely that this pair will follow right along. That being said, short-term pullback should be thought of as potential buying opportunities unless something changes quite drastically overall. GBP/JPY Price Forecast Video 12.04.22 For a look at all of todays economic events, check out our economic calendar . This article was originally posted on FX Empire More From FXEMPIRE: British Pound Continues to Pressure 1.30 Best Airline Stocks To Buy Now Clay Nation Announces NFT Collaboration with Snoop Dogg on Cardano Bitcoin and ETH Turn Bearish, SOL Reaches Crucial Support NVIDIA Is Down By 5%, Here Is Why Euro Gaps Higher to Kick Off the Week || Bitcoin lures inflation-weary Argentines despite crypto crash: By Hernan Nessi and Agustin Geist
BUENOS AIRES (Reuters) - In the Crypstation cafe in downtown Buenos Aires, trendy young Argentines order their lattes and pastries surrounded by screens with real-time cryptocurrency price quotes and a huge neon Bitcoin logo. The bill can be paid in digital money, too.
Savers in the South American nation are increasingly being drawn to cryptocurrency to offset years of painful inflation, now running near 60% - shrugging off a recent market crash and El Salvador's troubled experiment with virtual tender.
"The local environment is pushing people to protect their capital in cryptocurrencies and so we see growth speeding up," said Mauro Liberman, 39, one of the founders of the cafe, which is aimed at promoting the use of digital tender.
"Throughout Latin America the growth potential is enormous," he said, adding that most local users were buying it as a way to hoard their savings. "It is an avalanche that won't be stopped."
An April report from Americas Market Intelligence showed crypto penetration in Argentina was 12%, around double the level of Mexico and Brazil. Adoption in hyperinflation-plagued Venezuela is even higher, according to a recent Chainalysis report. (Graphic: Argentina: crypto is king - https://graphics.reuters.com/CRYPTO-CURRENCY/ARGENTINA/gdpzyeybxvw/chart.png)
'I LOSE LESS'
The draw is a lack of confidence in the local peso currency, which has depreciated 14% this year against the dollar. Capital controls limiting foreign exchange to $200 monthly are also spurring crypto adoption.
Annual inflation rose to 58% in April and could go as high as 70% this year, a rate which makes crypto attractive, despite the recent crash which has seen stablecoins like TerraUSD and Tether slide, and bitcoin drop to a 16-month low.
Victor Levrero, 44, an IT specialist in Buenos Aires province, puts his extra savings into stablecoin and bitcoin each month after using up his $200 quota to convert pesos to dollars. He doesn't bother with fixed-term peso savings.
"Basically, it's because I lose less," he said. "With Argentine inflation of between 60-70%, and fixed terms paying 30-35%, it just doesn't work."
Local crypto platforms like Lemon Cash and Buenbit told Reuters that their user base had ballooned over the last year.
The central bank has warned repeatedly about the risk of investing in volatile digital currencies, and some adopters are taking it carefully.
Marcelo Vila, 37, a self-employed computer technician, said for now he only he had a small amount invested in bitcoin and Ether.
"The idea is to expand the proportion of funds invested in crypto," he said. "But until I get to know the crypto market, I can't put a lot of money into it."
Sebastian Carsorio, 23, from a poor Escobar neighborhood outside the capital, has little to lose. He is looking to dig himself out of poverty using a home-made cryptocurrency mine he assembled with recycled computer parts from his work.
"I repaired the things and put it together in a computer," he told Reuters at his home, where he had screens showing how the mining is going. He started with Ethereum and then bitcoin - which allowed him to buy some land and go back to school.
"I'll keep mining because it's a good way of saving," Carsorio said, explaining that he gets a better exchange rate for pesos than he would on the street. "When money has been tight, mining has saved me many times."
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Argentina: crypto is king (Interactive graphic) https://tmsnrt.rs/38x0Kdi
Argentina: crypto is king https://tmsnrt.rs/3MqdpgK
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(Reporting by Hernan Nessi and Agustin Geist; Additional reporting Horacio Soria; Editing by Adam Jourdan and Rosalba O'Brien) || Banano - The Cryptocurrency That Does Everything You Need: NEW YORK, NY / ACCESSWIRE / April 14, 2022 / Since the low of March 2020, where the S&P dropped 30%, the world of cryptocurrencies has skyrocketed. Whilst the stock market doubled since its low, the overall cryptocurrency market experienced a 2000% increase from bottom to high. Every dollar invested in the broader stock market would land you two bucks. In the meanwhile, crypto - with its higher beta - would outperform stocks tenfold and reward you 20 bucks for each dollar invested. Cryptocurrencies proved to outperform commodities, stocks and real estate, despite old dogs like Peter Schiff warning against it. In the search for a similar or greater risk/reward, this article sets out to examine Banano, which, in our view, represents one of those gems that you may not know of yet - but should. Banano was founded April 1st 2018, but, barring its date of inception, is no joke at all. The instant and fee-less nature of Banano, combined with each transaction using a millionth of the energy that Bitcoin requires, makes it the fastest cryptocurrency in the crypto sphere. Bitcoin was created as a tool for payments and since then the idea of it has shifted towards a store of value and inflation hedge instead. In other words, Bitcoin may have failed at what it set out to do, but it helped inspire the creation of the technology that Banano utilizes. If you transfer Banano from one address to another it will take you less than a second, there will be no fees and you could do a million of those transfers before using the same amount of energy that one Bitcoin transaction requires. As of today, the most important and significant use case for Banano, besides being a worldwide currency, is its contribution to science. For the last year running, Banano has been the top contributor to Folding at Home (FAH), a distributed computing project, aimed to help scientists develop new therapeutics for a variety of diseases by the means of simulating protein dynamics. ( https://stats.foldingathome.org/team ) FAH enables users across the globe to contribute their CPU to help fold proteins, users like me and you who otherwise wouldn't be a contributor to science. During Covid-19, FAH stepped up to the plate and had a big increase in numbers: https://medicine.wustl.edu/news/foldinghomes-fight-against-covid-19-enlists-big-tech-gamers-pro-soccer/ . Still, the Banano team remains the biggest contributor by miles other than the default team. This is made possible by the fact that Banano has chosen to reward those folding for the Banano team, an incentive which means you get paid to fight worldwide diseases. Story continues Such an effort has not gone without notice. Notably, Billy Markus, the founder of Dogecoin dropped by the Banano subreddit in may of last year to leave this friendly message. https://www.reddit.com/r/banano/comments/n9oz27/creator_of_dogecoin_here_was_told_to_check_this/ The distribution of Banano is what makes it one of very few gems left in the world of crypto. Since day one, Banano has been distributed entirely for free and there was no ICO. Without any major stakeholders pushing the price and paying for listings on the major exchanges, both price and volume has remained relatively low despite having one of the bigger communities. The focus has rather been on creating a friendly and fun community spread around the globe and educating newcomers. For instance, as hyperinflation kept picking up in Venezuela, the Banano community there grew bigger and bigger as ordinary people could collect Banano through faucets and games entirely for free. To many, this represented an income that otherwise would be out of the picture. Being both genuine and wholesome, humor arises which attracts the attention of even the biggest names in cryptocurrency. A week ago, the C.E.O of Binance, the biggest exchange, retweeted a Banano meme: https://twitter.com/cz_binance/status/1512086069000302592 To conclude, our opinion is that Banano may very well represent the greatest risk/reward in the market. As for meme coins, Dogecoin has a marketcap that is a thousand times bigger than the one of Banano, but that does not at all reflect the usage of both coins, the community size and the overall activity. Despite barely having a marketcap of 20 million USD, Banano is wrapped on several chains like Binance Smart Chain, Fantom and Polygon. If Banano were to be listed on one of the top 10 exchanges, a shift would occur as millions would suddenly gains access to it. Before that happens or an institution picks up on it, Banano remains the golden needle in a haystack. This article was written by a dedicated member of the Banano community and a team member of Banano. Both hold Banano, so an increase in price would benefit both. This is not financial advice. As with anything in life, do your own research before making decisions. Contact: Name: Linc Hamilton (find me on Reddit u/LincHamilton) Email: [email protected] Reddit: https://www.reddit.com/r/banano/ Discord: https://chat.banano.cc/ Links: Official website - https://banano.cc/ Yellowpaper - https://banano.cc/yellowpaper/ Banano FAQ - https://www.reddit.com/r/banano/comments/mfzi6n/new_to_banano_get_started_here_faq_2021_edition/ Banano trading pairs - https://coinmarketcap.com/currencies/banano/markets/ SOURCE: Banano View source version on accesswire.com: https://www.accesswire.com/697390/Banano--The-Cryptocurrency-That-Does-Everything-You-Need || Oil and Wheat? The Big Money Is Actually in Gold (and Cannabis!): This article is excerpted from Tom Yeung’s Moonshot Investor newsletter. To make sure you don’t miss any of Tom’s potential 100x picks, subscribe to his mailing list here . In the past week, palladium has become the new darling of social media. The metal’s price has risen another 10%, sending thousands of investors to Wikipedia to research what palladium is even used for. The price rise isn’t particularly surprising. Nor is the sudden interest in metallurgy. Russia was the world’s largest exporter of palladium, supplying a quarter of the world’s consumption. Sanctions are now putting the entire auto supply chain on high alert. InvestorPlace - Stock Market News, Stock Advice & Trading Tips A chart showing palladium prices versus oil prices in the last decade. Palladium prices (orange) are outrunning oil (purple) | Source: Thomson Reuters But the attention over palladium, oil and wheat overshadow some stunning second-order bets. So, if you missed out on the oil-and-metal boom, many other bets are beckoning now. An illustration of an astronaut reaching for a star. Source: Catalyst Labs / Shutterstock.com Gold? Cannabis? Really? I was on the earlier end of the energy boom. I made my choice of Peabody Energy (NYSE: BTU ) for our Christmas contest in December 2020 when prices hovered at $2. And my November call on Enservco (NYSEAMERICAN: ENSV ) happened when the company was still a penny stock. But many of these top picks have now run their course. An investor buying BTU at $26 today cannot expect the same 1,200% returns. Such a feat would make Peabody worth 3.5x more than the rest of the U.S. coal industry combined. And Enservco’s meme-stock run to $8.76 is unlikely to be repeated. (Those still holding onto ENSV should ditch their shares). Natural gas prices tend to have an upper limit since export capacity is limited. In other words, like the latecomers to a poorly-stocked buffet, many investors today are left with slim pickings. All the top commodity-based stocks have been bid to the moon. Or have they? The Second-Order Winners of Rising Inflation Last month, I introduced the concept of second-order winners — firms that indirectly gain from rising commodity prices. If oil producers are drilling more wells, these lesser-known companies supply the fracking sand, pipelines and technical expertise. And second-order companies are showing better value than ever before. Top Moonshot pick Summit Midstream Partners (NYSE: SMLP ) barely trades at 2x cash flow, a stunningly low valuation given the severe oil shortage. Other recommended stocks PBF Energy (NYSE: PBF ) and Martin Midstream Partners (NASDAQ: MMLP ) have similar valuations. For investors looking for the next big thing, these second-order companies have the chance to go 2x…5x…10x. Story continues Allegiant Gold (AUXXF) When I first mentioned Allegiant Gold (OTCMKTS: AUXXF ) in February, its CEO had just bought another 15,650 CAD of shares. “Allegiant Gold already has a heavy insider presence. Seeing its CEO double down on his bet suggests that there’s even more gold in them hills,” I wrote. The following month, the firm announced a 4 million CAD investment by Kinross Gold (NYSE: KGC ). AUXXF shares are now up 45% since its first mention in the Moonshot Investor . Rising inflation rates are now giving investors a second chance to jump in. According to a study by Reuters, gold prices are second only to 10-year inflation-protected bonds when it comes to outrunning inflation. And gold exploration firms like Allegiant Gold essentially become cheap options on commodity prices. During periods of rising commodity prices, shares in these smaller exploration firms tend to outperform their more stable brethren. Insiders have already taken note. In the past two weeks, the firm’s CFO and a director have joined CEO Peter Gianulis in adding to their stakes. And if history is a guide, they’re signaling there’s still more gold yet in them hills. CryoMass Technologies (CRYM) Meanwhile, rising prices of agricultural commodities have created another unexpected winner: Cannabis processors. In particular, CryoMass Technologies (OTCMKTS: CRYM ) is emerging as a big winner. The company in question has a straightforward business. By using a patented freeze-drying system, CryoMass helps farmers extract more THC out of their cannabis crop. And with the cost of labor and equipment rising, these growers are reaching for every tool to improve yields. Share prices for CryoMass are already up 50% since getting recommended in the Moonshot Investor in February. And much like other agricultural processing companies, CRYM will likely continue rising as input prices stay stubbornly high. There are, however, some short-term concerns. Two weeks ago, shareholders converted warrants into over 50 million shares. While it’s a long-term bullish sign, such a significant move creates short-term selling pressure. Cannabis stocks are also a magnet for speculators. In March, cannabis ETF AdvisorShares Pure Cannabis (NYSEARCA: YOLO ) prices rose 20% after the U.S. House indicated it would pass the Marijuana Opportunity Reinvestment and Expungement (MORE) Act. Shares fell back after investors realized the bill had zero chance in the Senate. But longer-term investors shouldn’t care. As inflation takes its toll on agricultural firms, efficient processing companies like CryoMass are the ones that stand to gain. Bonus Pick from Louis Navellier If you’re looking at these speculative penny stocks and saying, “there’s no way I’m going to take these risks,” let me tell you this. I get it. While Moonshot stocks can add a kick to a well-diversified portfolio, they’re inherently risky if bought alone. It’s like sky-diving with only one parachute… …And you’re not sure if you packed an anvil in there by accident. But I also have some good news. InvestorPlace’s Louis Navellier recently revealed his No. 1 stock to buy now. It’s a stock that could tempt Warren Buffett himself. And the best part? Louis is giving it away for free in an exclusive presentation. To watch it and get his no. 1 stock pick, click here. Apparently, Rug-Pulls Are Illegal Now Last week, crypto investors sued developer Tyler Gaye for spending the $1 million he raised on a personal NFT collection rather than on building the “0peNFT” NFT exchange as he promised. The legal action follows precedent from last month when the U.S. Justice Department arrested the 20-year-old creators of the rug-pulled Frosties NFT project. The young team had bilked investors of $1.1 million after promising “tokens, rewards, giveaways, mint passes, and early access to a future game.” A Frostie NFT is displayed on OpenSea. Exhibit 115a? | Source: OpenSea.io The law community has finally decided that stealing from crypto investors should be illegal. The precedent for these suits are about as old as some of my jokes. Modern class action started in the mid-1950s, and investor-shareholder lawsuits quickly followed. It was only a matter of time before crypto scammers got targeted. Of course, there are plenty of other crypto con artists, and even more slighted buyers looking for justice. Heather Morgan (AKA the Crocodile of Wall Street) can’t possibly be the only scammer who left an extensive (and embarrassing) paper trail online. But then again, considering some of the unforced errors we investors make, perhaps it’s the lawyers who will get the last laugh. P.S. Do you want to hear more about cryptocurrencies? Penny stocks? Options? Leave me a note at [email protected] or connect with me on LinkedIn and let me know what you’d like to see. FREE REPORT: 17 Reddit Penny Stocks to Buy Now Thomas Yeung is an expert when it comes to finding fast-paced growth opportunities on Reddit. He recommended Dogecoin before it skyrocketed over 8,000%, Ripple before it flew up more than 480% and Cardano before it soared 460%. Now, in a new report, he’s naming 17 of his favorite Reddit penny stocks. Claim your FREE COPY here! On the date of publication, Tom Yeung did not have (either directly or indirectly) any positions in the securities mentioned in this article. Tom Yeung, CFA, is a registered investment advisor on a mission to bring simplicity to the world of investing. 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 Oil and Wheat? The Big Money Is Actually in Gold (and Cannabis!) appeared first on InvestorPlace . View comments || Spot Australian Bitcoin, ETH Fund Launches Delayed: Australia will have to wait to become the eighth country in the world to allow spot cryptocurrency ETFs due to a service provider delay.
The ETFS 21Shares Bitcoin ETF (EBTC) and the ETFS 21Shares Ethereum ETF (EETH) will not debut on Wednesday as originally planned, according to a Tuesday morningnoticefrom the Australian Cboe Exchange. The funds are the first spot crypto ETFs set to list in the country.
ETF Securities is chaired by Graham Tuckwell, who is also the founder and chairman of ETFS Capital, the parent company of ETF.com.
In a statement, 21Shares said an undisclosed third party was unable to begin servicing the funds on its expected launch date. The firm does not have a timeline for when it expects its servicer to be ready for launch.
“As crypto ETFs are completely new to Australia and the infrastructure is being built from the ground up, a service provider downstream needs more time to support the launch,” the firm said.
The delay is also affecting the launch of a Cosmos Asset Management fund also scheduled for Wednesday. That fund would provide exposure by owning shares of the Canada-listed Purpose Bitcoin ETF instead of holding cryptocurrency.
Contact Dan Mika [email protected], and follow him onTwitter
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Permalink| © Copyright 2022ETF.com.All rights reserved || FOREX-Dollar starts week strong, poor Chinese data hurts Aussie: By Alun John
HONG KONG, May 16 (Reuters) - The dollar started the week just off a 20-year high against its peers on Monday, as investors sought safety due to fears about global growth that were highlighted by Monday's poor Chinese economic data, sending the Aussie dollar lower.
The dollar index was at 104.57, having briefly crossed the 105 level on Friday, its highest since December 2002, after six successive weeks of gains.
"Persistent geopolitical tensions, ongoing global supply disruptions, a slowing Chinese economy and a hawkish Fed suggest that the USD should be stronger for longer," said HSBC global FX research in a note refreshing their currency forecasts.
They expect the euro to fall to parity against the dollar in the coming year. "Much weaker growth and much higher inflation leave the ECB facing one of the toughest policy challenges in G10 (central banks)," they said.
The single currency was at $1.0395 on Monday morning, slightly lower, and only just above the $1.0354 level it hit on Thursday, its lowest since early 2017.
Moves were sharper in the Australian dollar, which fell 0.68%, hurt by weaker-than-expeted Chinese data for April, when COVID-19 lockdowns took a heavy toll on consumption, industrial production and employment, adding to fears of a sharp slowdown in the second quarter.
"I think people want to see more being done to stabilise the Chinese economy, so that's something to keep a lookout for," said Sim Moh Siong currency strategist at Bank of Singapore.
He said investors were also watching for any more guidance from the Federal Reserve about the interest rate path, and the Russian-Ukraine war given the risks it poses to European growth.
Markets are pricing in 50 basis point hikes at the Fed's next two meetings, according to CME's Fedwatch tool, but with the possibility of larger increases.
"There's not much more guidance the Fed can give in light of the uncertainty on the inflation front, but they seem prepared to put out soothing words to rule out a 75 basis point rate hike," said Sim.
Sterling, which has suffered along with the euro, was at $1.2244 on Monday, having dropped as low as $1.2156 last week, hurt by softer-than-expected first quarter GDP figures.
In the coming week, Britain has labour market data, inflation and consumer confidence data.
The Japanese yen was a little firmer at 129 yen per dollar. Last week it recovered from as low as 131.35, and managed its first week of gains since early March.
With yields pinned down in Japan, the yen is vulnerable to higher U.S. yields, but global growth fears have caused U.S. Treasury yields to pause their march higher.
Crypto markets, which trade around the clock, had a quiet weekend after turmoil last week driven by TerraUSD, a so-called stablecoin, broke its dollar peg.
Bitcoin was trading around $30,300 down 3% having dropped to $25,400 on Thursday, its lowest since December 2020.
(Editing by Sam Holmes and Jacqueline Wong) || Bitcoin surges nearly 8% to $31,780: (Reuters) - Bitcoin rose 7.93 % to $31,780.51 at 2200 GMT on Monday, up $2,334.8 from its previous close.
The world's biggest and best-known cryptocurrency is up 25.1% from the year's low of $25,401.05 on May 12.
Ether, the coin linked to the ethereum blockchain network, rose 9.8 % to $1,989.38 on Monday, adding $177.54 to its previous close.
(Reporting by Ann Maria Shibu in Bengaluru; Editing by David Gregorio)
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: down || Prices: 30467.49, 29704.39, 29832.91, 29906.66, 31370.67, 31155.48, 30214.36, 30112.00, 29083.80, 28360.81
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2022-01-25]
BTC Price: 36954.00, BTC RSI: 30.47
Gold Price: 1852.70, Gold RSI: 61.98
Oil Price: 85.60, Oil RSI: 64.99
[Random Sample of News (last 60 days)]
Nasdaq falls into correction territory as US stocks finish lower in volatile trade: • US stocks finished lower Wednesday after an up-and-down session that began higher.
• The 10-year Treasury yield pulled back from a two-year high but continues to put pressure on tech stocks.
• Procter & Gamble, Morgan Stanley, and Bank of America reported strong earnings.
• Sign up here for our daily newsletter, 10 Things Before the Opening Bell.
The Nasdaq's slump extended into correction territory Wednesday as US stocks closed lower after an up-and-down session.
The tech-heavy Nasdaq led stocks lower and is now 10% below its previous high, signaling a correction. The 10-year Treasury yield pulled back a bit after hitting a two-year high Tuesday. But it continues to put pressure on tech stocks as investors brace for aggressive monetary policy tightening from the Federal Reserve later this year.
So far in 2022, traders have sold off shares of big tech companies, in addition to cryptocurrencies, and opted instead for steadier investments in anticipation of rising interest rates.
Here's where US indexes stood at 4:00 p.m. on Wednesday:
• S&P 500:4,532.76, down 0.96%
• Dow Jones Industrial Average:35,028.65, down 0.97% (339.82 points)
• Nasdaq Composite:14,340.25, down 1.15%
US stock began the session higher Wednesday on strong earnings reports.Bank of AmericaandMorgan Stanleystocks gained after each firm posted better-than-expected four-quarter earnings. Consumer giant Procter & Gamble also delivered solid earnings.
"It was an impressive quarter of strong top-line growth despite surging commodity and transport costs," said OANDA analyst Edward Moya. "Executives signaled more price increases are on the way and that should suggest 7% (inflation) is here to stay a little while longer."
The crypto bear market pulled its total value below $2 trillion, and billionaire investor Mike Novogratz expectssurging bond yields to keep cryptocurrencies and altcoins under pressure.
SoFi was conditionally approved as a bank as long as it doesn't do any business in cryptocurrency, andits stock jumped 19% following the news.
JPMorgan analyzed a broad set of 1,000 thematic funds and found thatthey do not perform as well as global equities.
Oil prices continued to rally after hitting a seven-year high Tuesday.West Texas Intermediate crudesettled 1.79% higher at $86.96 per barrel. Brent crude, the international benchmark, rose by 0.65% to about $88.08.
Goldrose by 1.69% to $1,843.2 per ounce. The10-year yielddipped nearly 2 basis points to to 1.849%.
Bitcoinfell 1.33% to $41, 796.05.
Read the original article onBusiness Insider || Crypto IRA Platform iTrustCapital Raises $125M at $1.3B Valuation: Crypto individual retirement account (IRA) software platform iTrustCapital has raised $125 million in Series A funding with a post-money valuation of over $1.3 billion, according to a press release provided to CoinDesk. The round was led by growth equity firm Left Lane Capital. As part of the investment, Left Lane Principal Matthew Miller will join the iTrustCapital board of directors.
• The proceeds will help ITrustCapital expand its products and services, scale its client services and development teams, launch new marketing channels and explore potential strategic acquisitions.
• The iTrustCapital platform allows qualified U.S.-based investors to transact in cryptocurrencies while maintaining the tax advantages of an IRA. The platform currently provides access to 25 cryptocurrencies alongside physical gold and silver.
• The software company is exploring new features for the platform, including crypto staking services and the ability to participate in governance activities through governance tokens such as Uniswap, Compound, MakerDAO, Sushi, Polkadot and more.
• ITrustCapital currently has about 27,000 funded accounts and aims to add another 180,000 to 200,000 in 2022, CEO Todd Southwick told CoinDesk in an interview.
• Founded in 2018 in Long Beach, Calif., iTrustCapital said it has grown from $2 billion in total transaction volume to more than $4.5 billion in the last six months.
• "ITrustCapital serves clients that seek long-term, tax-advantaged exposure to cryptocurrency as an asset class – a formidable and fast-growing market opportunity that traditional financial institutions have not fully addressed," said Left Lane’s Miller in the press release.
Read more:Should You Invest in Bitcoin for Retirement? || UPDATE 1-U.S. dollar net long bets slide to lowest since mid-Sept 2021 -CFTC, Reuters data: (Adds analyst comment, details, CFTC table, bitcoin futures) By Gertrude Chavez-Dreyfuss NEW YORK, Jan 21 (Reuters) - Speculators' net long positioning on the U.S. dollar dropped in the latest week to its lowest level since mid-September 2021, according to calculations by Reuters and U.S. Commodity Futures Trading Commission data released on Friday. The value of the net long dollar position fell to $12.59 billion for the week ended Jan. 18, from $19.34 billion the previous week. Scotiabank, in its report after the release of the CFTC data, said this was one of the largest weekly declines in long dollar positioning since mid-2020. U.S. dollar positioning was derived from net contracts of International Monetary Market speculators in the Japanese yen, euro, British pound, Swiss franc, as well as Canadian and Australian dollars. In a wider measure of dollar positioning, which includes net contracts on the New Zealand dollar, Mexican peso, Brazilian real and Russian rouble, the greenback posted a net long position of $13.028 billion this week, from $19.906 billion in the prior week. "Investors were gripped with a sudden, and perhaps short-lived, given subsequent developments, burst of enthusiasm for the euro last week as spot euro showed some fleeting strength and tested levels near $1.15," said Shaun Osborne, Scotia's chief FX strategist, in the report. Data showed euro net longs rose to 24,584 contracts this week, from 6,005 the previous week. In the case of the dollar, higher Treasury yields have not boosted the greenback as much, with many investors taking the view that most of the recent hawkishness from the Federal Reserve has already been priced in. So far this year, the dollar index has been flat even though U.S. 10-year Treasury yields have risen 20 basis points. The benchmark yield was last at 1.7705%. In cryptocurrencies, bitcoin futures' net short positions dropped to 549 contracts this week, from 377 the previous week. The latter was the smallest net short since late September. Bitcoin and crypto sentiment overall has been fragile for most of the month, as investors moved away from riskier assets ahead of Federal Reserve meeting next week, which is expected to flag an interest rate increase in March. The world's largest digital currency has also been affected by news that Russia has proposed a ban on the use and mining of cryptocurrencies. Bitcoin was last down 10% at $36,660, after earlier dropping to a six-month low. Since the beginning of the year, bitcoin has lost 20% of its value versus the dollar. Japanese Yen (Contracts of 12,500,000 yen) $8.821 billion 18 Jan 2022 Prior week week Long 8,002 22,364 Short 88,881 109,889 Net -80,879 -87,525 EURO (Contracts of 125,000 euros) $-3.48 billion 18 Jan 2022 Prior week week Long 211,901 204,361 Short 187,317 198,356 Net 24,584 6,005 POUND STERLING (Contracts of 62,500 pounds sterling) $0.021 billion 18 Jan 2022 Prior week week Long 39,760 30,506 Short 40,007 59,672 Net -247 -29,166 SWISS FRANC (Contracts of 125,000 Swiss francs) $1.473 billion 18 Jan 2022 Prior week week Long 925 4,571 Short 11,735 12,231 Net -10,810 -7,660 CANADIAN DOLLAR (Contracts of 100,000 Canadian dollars) $-0.599 billion 18 Jan 2022 Prior week week Long 49,792 44,284 Short 42,300 51,660 Net 7,492 -7,376 AUSTRALIAN DOLLAR (Contracts of 100,000 Aussie dollars) $6.353 billion 18 Jan 2022 Prior week week Long 9,051 12,383 Short 97,505 103,869 Net -88,454 -91,486 MEXICAN PESO (Contracts of 500,000 pesos) $-0.121 billion 18 Jan 2022 Prior week week Long 75,461 53,194 Short 70,541 57,645 Net 4,920 -4,451 NEW ZEALAND DOLLAR (Contracts of 100,000 New Zealand dollars) $0.564 billion 18 Jan 2022 Prior week week Long 11,612 10,960 Short 19,943 19,564 Net -8,331 -8,604 (Reporting by Gertrude Chavez-Dreyfuss Editing by Chris Reese and David Gregorio) || BSC Partners with Animoca Brands to Launch a $200M GameFi Fund: Binanceis the world’s leading cryptocurrency exchange, and its Smart Chain blockchain has become home to thousands of DeFi projects. The Binance Smart Chain (BSC) is also one of the major Ethereum competitors in the market.
Binance Smart Chain, the blockchain developed by Binance exchange, has partnered with Animoca Brands to launch a $200 million fund specifically for GameFi projects. Each partner will invest up to $100 million to support the projects.
According to the announcement, the $200 million investment program will support cryptocurrency-focused gaming projects building on the Binance Smart Chain. Binance said it would be investing from its $1-billion accelerator fund set up fordecentralized finance(DeFi),nonfungible tokens(NFT) and GameFi.
BSC investment director Gwendolyn Regina stated that“With this co-investment, projects building on BSC will get the opportunity to gain insights and expertise from leading gaming giants, such as Animoca Brands, along with collaboration opportunities with blockchain experts from the BSC Community.”
Animoca is a leading project in the NFT and GameFi space, and this partnership will allow BSC projects to gain valuable insights into how Animoca operates. This will make it easier for the BSC projects to understand their markets and develop products that would gain massive adoption.
DeFi, NFT and Metaverse are some of the fast-growing sectors in the cryptocurrency space. However, GameFi is another area that has gained massive attention and adoption in recent months.
GameFi is a combination of gaming and DeFi, and it refers to creating financial incentives in the gaming space. GameFi usually operates under a play-to-earn model instead of pay-to-win. The GameFi space continues to attract some of the leading names in the crypto space, including Huobi crypto exchange, Solana Ventures, FTX, Sanctor Capital and more.
Thisarticlewas originally posted on FX Empire
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• Jury Orders “Bitcoin Creator” Craig Wright to Pay $100 million Damages || Bitcoin QR Code Generator Launches Its Newest Tool: LONDON, Nov. 30, 2021 (GLOBE NEWSWIRE) -- Bitcoin QR Code Generator is proud to announce the Launch of its newest tool. Quick Response (QR) codes are frequently used in advertising content to communicate data, and they've now become a standard tool to utilize. They are being used in advertising efforts such as leaflets, billboards, letterheads, and sending and receiving money over the internet. Bitcoin isn't a novel invention, and practically everybody is familiar with it. Still, if people have any queries concerning Bitcoin QR Code Generator or Bitcoin in general, you've come to the perfect location because you'll discover all of the answers here. In simplistic terms, Bitcoin is decentralized digital money issued without a banking institution's involvement. As a result, it travels between users on peer-to-peer networks without the involvement of any mediators. Whenever a Bitcoin transaction happens, it is cryptographically validated by nodes in the network and recorded in a blockchain. Moreover, it is a currency that is less than nine years old and is widely acknowledged worldwide. As a result, a Bitcoin may be traded for goods, commodities, and other currencies. As per statistics, approximately 5.8 million people utilize digital wallets for Bitcoin around the planet. Bitcoin is used for a myriad of purposes, including simplicity, decentralization, and anarchist. Now, that's all about Bitcoin cash; today, let's talk about QR codes because it's critical first to grasp what a Bitcoin QR Code is before learning all there is to know regarding QR code generators. What are QR Codes, and How Do They Work? Given its wide adoption, some consumers are still confused regarding what a QR code is. You've probably seen a picture with visuals on it, such as black dots and bold squares, that can be read with a QR code scanner by many modern gadgets, such as a cellphone. As a result, data such as a site link or contact information is stored in a QR code that may be read and viewed on the smartphone with no need to type anything. As a result, it makes it easier for the customer to find the location and check the site. Story continues If users are wondering how a QR code works, you've come to the right place. So don't panic; it works exactly like a barcode that you've probably seen on almost all of the goods you've purchased from the shop and which offers a great deal of information about the item. Let us explain that each QR code is distinctive and represents a bit of specific data scanned by a QR code scanner or translated into some words that people can read and comprehend by a smartphone. What is a Bitcoin QR Code Generator? When people google for a Bitcoin QR Code Generator, people will discover a plethora of free and premium QR code generators including Bitcoin QR Code Generator that promise to swiftly convert Bitcoin wallet addresses for receiving and sending into a QR code version for fast and easy transactions. How Does the Bitcoin QR Code Generator Work? Making or accepting transactions is as simple as translating a bitcoin wallet sending and receiving addresses into a QR code layout. Several bitcoin wallets and applications support QR code scanning. By inputting an open bitcoin address into the Bitcoin QR Code Generator and selecting the generate users' QR code option, users may generate their wallet QR code for scanning. Once it's downloaded it can be used on a site or share it with friends after it has been generated. Why Should People Use a Bitcoin QR Code Generator? Today's modern cryptocurrency initiatives have a strong motivation to make cryptocurrency payments easier for its consumers. This technique is made easier and more dependable using QR codes. Everything people need to get the sender or recipient information is a simple scan using users' smartphone's camera. Like those for other currencies, Cryptocurrency wallet addresses are composed of a string of numbers and letters that could be up to 34 characters long. It's cumbersome to have to physically input information every time people have to transfer or receive money. Thus, utilizing the Bitcoin QR Code Generator, a long address may be swiftly converted into a QR code. Is It Safe to Use the Bitcoin QR Code Scanner? The company can guarantee that using digital Bitcoin QR Code Generators is secure, but people should read online evaluations from prior customers to ensure safety and reliability. Another aspect every one of these QR code generators has is that they promise to use secure servers to generate QR codes for wallets addresses. As a result, whether people use premium or free online Bitcoin QR Code Generators. But be careful. Always! About Bitcoin QR Code Generator The team have covered all there is to know about the Bitcoin QR Code Generator , and how these operate, as well as the types of cryptocurrencies it supports. The company have also reviewed how these QR code generators are safe and secure to use, but that's not to say people shouldn't be blindfolded going ahead with this. Remember that users' privacy is of utmost importance. Bitcoin QR Code Generator is readily accessible; all people should do is choose the correct one by evaluating users' options from the above details, such as the safety elements and the sorts of Bitcoin money they serve, as there's no use in employing a code generator which can't properly produce Bitcoin code. People can use the Bitcoin QR Code Generator at Bitcoin QR Code Generator.io Media Contact Brand: Bitcoin QR Code Generator Contact: Jim Free Nguyen Email: [email protected] Website: https://bitcoin-qr-code-generator.io/ Address: St. Albans, United Kingdom, NL2 6DW SOURCE : Bitcoin QR Code Generator || US stock futures fall as investors shun risky assets ahead of the key Fed rate meeting, while the crypto sell-off persists: It's been a volatile start to the year on Wall Street. AP Photo/Richard Drew US futures fell Monday after stocks suffered their worst week since the March 2020 sell-off. The rout in crypto markets showed little sign of abating, with tokens deep in the red. Investors have dumped speculative assets as they brace for the Fed to hike rates in 2022. US stock futures slid Monday following the worst week for the S&P 500 since March 2020, as investors fretted about interest rate hikes ahead of the Federal Reserve meeting this week. S&P 500 futures were down 0.34%, Dow Jones futures were 0.25% lower, and futures for the tech-heavy Nasdaq 100 index fell 0.53%. Futures had risen in early European trading, but then abruptly changed course, as volatility continued to plague the market. Expectations that the Federal Reserve will hike interest rates in 2022 as it tries to stamp down on inflation have rocked stocks so far this year. Investors will be watching for a fresh steer from the Fed when it reveals its latest monetary policy decision Wednesday. Traders expect the central bank to increase rates four times this year, starting with a 25 basis point increase in March. But some analysts believe policymakers could go harder and start with a 50 basis point increase, or make more hikes. Goldman Sachs economists, led by Jan Hatzius, said the Fed may even hike rates at every meeting from March — seven increases in total. Technology stocks have been particularly hard hit. Their full earnings potential lies far in the future, making them look less attractive as interest rates and bond yields rise. Last week, bond yields shot higher, and the S&P 500 shed almost 6% in its worst five-day stretch since the pandemic-driven sell-off of March 2020. Yet bond yields cooled Monday. The yield on the all-important 10-year US Treasury note dipped 2 basis points to 1.726%. Yields move inversely to price, "With a number of critical market factors still in flux, the short-term market direction can remain volatile," said Mark Haefele, CIO at UBS Global Wealth Management. Story continues "But for longer-term investors, we don't think it is a bad thing if market volatility takes some of the air out of the more speculative corners of the market," he said. "Nor is it a bad thing if current volatility means that some secular growth names are being offered at their best prices in months." Nerves over the chances of a Russian invasion of Ukraine were also weighing on appetite for risky assets, after the US State Department said Sunday it was pulling diplomats' families out of the country. Against the backdrop of escalating tensions, investors don't appear to be keen to buy the dip, as they would usually do, according Michael Hewson, chief market analyst at CMC Markets. "For several years, the markets have become accustomed to buying the dips no matter the fundamental backdrop," Hewson said. "However, recent events appear to be seeing a significant loss of confidence in this mindset." European stocks fell, with the continent-wide Stoxx 600 index down 2.29%, and London's FTSE 100 1.35% lower. In Asia, China's CSI 300 index closed 0.16% lower, but Hong Kong's Hang Seng dropped 1.24%. The rout in cryptocurrency markets showed little sign of abating. Bitcoin was down 5.3% at $33,894 on the Coinbase exchange, and other major tokens were deep in the red. Ethereum's ether fell 10% in the last 24 hours to $2,277 on Coinbase. Meanwhile, cardano was down 11%, and solana plunged 17%, according to prices on CoinMarketCap . Read more: The CEO of a $135 million investment firm explains why these 6 sectors are the best place for your money in a high-inflation market environment not seen in 100 years Earnings season is set to rumble on, with Apple, Boeing, Microsoft and Tesla due to release updates this week. Elsewhere in markets, oil prices held steady at seven-year highs. WTI crude , the US benchmark, was down slightly to $84.98 a barrel, while Brent crude , the international benchmark, was also somewhat lower at $86.95 a barrel. Read the original article on Business Insider || Bitcoin will replace the dollar, Jack Dorsey tells Cardi B in response to the rapper's crypto question: Bitcoin will replace the US dollar, Jack Dorsey said. David Becker / Getty Images Crypto enthusiast and Block CEO Jack Dorsey believes bitcoin will replace the dollar. He was responding to rapper Cardi B's tweet asking whether people think crypto will oust the greenback. Dorsey, who recently quit as Twitter CEO, has said there's nothing more important than bitcoin for him to work on. Sign up here for our daily newsletter, 10 Things Before the Opening Bell . Twitter cofounder Jack Dorsey just made a bold prediction: He says bitcoin will replace the US dollar . Dorsey, boss of digital financial services provider Block, was responding to a tweeted question from Cardi B. The rapper asked late Monday whether people believed virtual assets will replace the world's reserve currency. @jack/Twitter Cardi B's tweet had drawn more than 37,000 likes and 5,300 comments at last check. Popular financial meme account @litquidity responded with: "the yuan will replace the dollar before crypto." Meanwhile, Dorsey's tweet was met with criticism , applause and straightforward requests for more details . Dorsey has consistently praised bitcoin, saying his passion for the asset comes in part from the "weird as hell" community behind the cryptocurrency. His recent departure from the CEO role at Twitter is seen as likely linked to his ambitions around bitcoin. Block, which changed its name from Square after Dorsey left Twitter, has a big focus on crypto. It plans to build a bitcoin-inspired financial services business through a new division called TBD, which has been on a hiring spree and already has half-a-million followers on Twitter. Earlier this year, the then-Square said it was building a hardware crypto wallet and software service to "make bitcoin custody more mainstream." The company has made it clear it wants bitcoin to be the "native currency of the internet." In June, Dorsey said he would leave one or both of the CEO roles he had then to focus on bitcoin , if the project ran into difficulties. Story continues "If I were not at Square or Twitter , I'd be working on bitcoin. If it (bitcoin) needed more help than Square and Twitter, I'd leave them for bitcoin," he said. He's also touted it as the most important thing in his lifetime to work on. Separately on Monday, Dorsey voiced his disapproval of venture capital influence on Web3 a term used often in the crypto community to describe the next generation of the internet. Web3 is seen by crypto advocates as a decentralized form of the internet, providing users with more ownership that should end up stripping power from big corporations. Dorsey refuted that idea, saying crypto users don't own Web3. He implied that the so-called decentralized internet is actually in the hands of venture capitalists. But this criticism seems to be limited to just the successor to Web2 which is what we're in now. As for bitcoin, Dorsey thinks Wall Street "can't, and never will" be able to control the leading cryptocurrency. Read More: A 29-year-old is set to earn more than $1.5 million from real estate this year. Here's how he invests his money. Read the original article on Business Insider || From Bear to Bull: Jordan Belfort to Attend Blockchain World Abu Dhabi as Key Speaker: Dive into the metaverse at Blockchain World Abu Dhabi Find out how you could meet the ‘Wolf of Wall Street,’ Jordan Belfort All registrants have the chance to win a Bitcoin, to be announced on Dec. 17 ABU DHABI, United Arab Emirates, Dec. 07, 2021 (GLOBE NEWSWIRE) -- via InvestorWire – “The Wolf of Wall Street” himself, Jordan Belfort, will be attending the Global Distributed Cloud Storage Summit (DCS 2021) as part of Blockchain World Abu Dhabi. Belfort is joining as a key speaker and host for several Business Club VIP events throughout the program, which are designed to delve into all things blockchain, including lunch sessions and several activities during the festival. Having evolved from a Bitcoin Bear to a Blockchain Bull, Belfort is not only incredibly enthusiastic about the future of the metaverse but also a direct contributor, with several upcoming NFT collections inspired by his personal life and the incredible 2013 film, “The Wolf of Wall Street.” Belfort holds a cryptocurrency portfolio and is an investor in digital projects and culture, such as his 102.49 ETH purchase of “ Cryptopunk #6033 .” “Currently, the MENA region is poised to become a real driving force in blockchain innovation, thanks in part to numerous government initiatives, including the Emirates Blockchain Strategy 2021 and Dubai Blockchain Strategy,” states Belfort. “There is a real possibility of the UAE, in particular, becoming the capital of blockchain technology, which is why I see it as the ideal location to host the 2021 DCS Summit, as part of Blockchain World in Abu Dhabi.” THE CAPITAL OF BLOCKCHAIN Christie's International Real Estate - Premier Estates, the luxury property brokerage with a global network totalling over 950 offices across 49 countries and territories, is proud to be sponsoring Blockchain World Abu Dhabi 2021. “We are proud to be a key part of the inaugural Blockchain World Abu Dhabi this year and are delighted to be able to welcome the regional and global blockchain community to both the event and to visit our teams in the exhibition zone," said Jackie Johns, managing partner. Story continues “We offer exclusive homes to buyers and sellers worldwide, with a focus on luxury residential real estate and established relationships with discerning clientele. Along with this expertise, we offer tailored service alongside professionalism, and our industry is one built on quality, trust, and connectivity. I see great similarities to the digital world and blockchain industries in this respect; our auction house colleagues have already stepped into the metaverse with their first digital artwork sale, Beeple's Opus , and we are all excited to see where the future world of NFT culture, cryptocurrencies and new technologies leads," Johns added. The core appeal of the event is the 200 leading experts in blockchain technologies that will be delving into the virtual world's most detailed and relevant realms through several keynote speeches, panel discussions, and live chat show interviews. As the days count down, Adam Geri, head of the DCS Organising Committee, said he is looking forward to enjoying the fruits of his labour. "We really have a wonderful three days planned for the over 20,000 visitors that are due to pass through the doors of the Abu Dhabi National Exhibitions Centre," Geri said. "The event is structured in a way that supports meaningful interactions between speakers, experts, participants and entrepreneurs. The leading conference, which will be streamed live from DCS's state-of-the-art studio, will bring together influencers, speakers, experts, and panellists from all industries breaking into the blockchain space. With the global blockchain market expected to go up to $23.3 billion by 2023, this is not an event to miss." "As it stands, the world is predicted to spend up to $15.9 billion in blockchain-related tech by 2023 and, in fact, during the DCS Show, significant discussion will focus on how Abu Dhabi can build a multibillion-dollar blockchain economy, including a roadmap to a greener blockchain in line with the UAE 2030 vision,” Geri added. BEST-IN-CLASS EXPERTS Leading the convergence of experts to Abu Dhabi are the likes of Oscar Clark, Chief of Curiosity at Fundamentally Games; Jason Brink, president of Blockchain and Gala Games; Brett King, founder of the pioneering neo-bank Moven; and Christopher Travers, one of the leading lights in pseudonymity, social media identity, and pushing the boundaries of what brands can achieve through virtual influencers and the world's digitisation. Meanwhile, the Blockchain expert-studded line-up includes Nobel Prize winner Dr. Finn Kydland, David Shing (AKA “Shingy” the “Forecaster), Nicole Purin (founder and CEO Nikna Doda Films), Dr. Saifedean Ammous (economist, educator, writer), Vesa (digital artist and speaker), The Crypto Sheikhs (Anas Bhurtun and Danosch Zahedi), Yael Tamer (Co-CEO and founder), among others. ENGAGING EXHIBITION ACTIVITIES Finally, the DCS 2021 event has created a series of engaging activities where guests can interact, learn, and be entertained. These include live demonstrations, NFT artist meet and greet events at the NFT art gallery, live “play and earn” competitions and gaming activations at Gaming Zone, and crypto live-trading and giveaways at Crypto Zone. Don’t miss Abu Dhabi’s ascendance as the capital of crypto. The event will be a hybrid, with live streaming and an in-person ticketed event on-site at ADNEC. Purchase Tickets Get your tickets for the unmissable event on Platinumlist HERE , Virgin Tickets HERE or via the blockchain World website HERE . Win a Bitcoin Don’t forget to register now for your chance to win a Bitcoin on Dec. 17, 2021, HERE . Live Stream for Free Watch Blockchain World free on-demand HERE from anywhere in the world and be in with a chance of winning one BTC. Follow the latest developments on Twitter | Facebook | LinkedIn | Instagram | Telegram About DCS 2021 The Global Distributed Cloud Storage Summit (DCS 2021) will be held at the Abu Dhabi National Exhibitions Centre in the UAE on Dec.15-17, 2021. This meeting will gather relevant government departments, notable blockchain industry experts, industry investment institutions, related academic and research institutions, star project parties, and other parties together. This conference will provide the distributed storage industry with more policies, financial support, and a more significant influx of human resources. About CloudTech Headquartered in the United Arab Emirates with a subsidiary in Australia, CloudTech Group is the leader in fintech and one of the world's leading blockchain technology groups, providing services covering every aspect of the blockchain industry. Our services range from cooperation with governments to technical research and legal and compliance consulting. In an effort to help establish the blockchain industry's ecosystem, we have formulated a complete industrial layout plan to explore the underlying blockchain technology. Wire Service Contact InvestorWire (IW) Los Angeles, California www.InvestorWire.com 212.418.1217 Office [email protected] || Market Wrap: Altcoins Rally as Bitcoin Buyers Return: Bitcoin rose above $43,000 on Wednesday, suggesting that a recovery from a two month-long downtrend is underway. Alternative cryptocurrencies (altcoins) such as FTM, XLM and the popular dog-themed shiba inu (SHIB) token led the way higher, all up more than 10% over the past 24 hours. The rally in altcoins, which typically outperform bitcoin in a rising market, reflects a greater appetite for risk among traders. Still, there are signs that the rally in highly speculative altcoins is due for a pullback. "In the layer 1 scene , both FTM and NEAR see an open interest -to-market capitalization ratio substantially above the large-cap tokens," Arcane Research wrote in a report. "FTM’s open interest growth has been accompanied by strong price action and substantially positive funding – at current levels, the FTM trade seems relatively crowded," Arcane wrote. Meanwhile, option traders appear to be less bearish on bitcoin. The one-week put-call skew, which measures the cost of puts – or bearish bets – relative to calls, has fallen from 17% to nearly 0% since late Monday, according to data provided by the crypto derivatives research firm Skew. Latest prices Bitcoin (BTC): $43,905.25, +2.6% Ether (ETH): $3381.68, +4.4% S&P 500: $4762.35, 0.28% Gold: $1827, +0.47% 10-year Treasury yield daily close: $1.735 Some analysts maintain a long-term bullish outlook for BTC, suggesting the current sell-off is a mere dip in broader upcycle. For example, StackFunds, a Singapore-based crypto investment firm, has a price target of $120,000 BTC this year. Still, investors will still have to brace themselves for volatility. "We are expecting crypto markets to be extremely disjointed the next few months, inducing choppiness that overflow from equities, as investors navigate a new era of inflation," Lennard Neo, head of research at Stack Funds, wrote in a report. Is bitcoin entering a recovery phase? "A byproduct of consistent downtrends in price are the liquidation of confident long traders trying to catch a falling knife," crypto data firm Glassnode wrote in a blog post . That could mean BTC is approaching a short-term bottom, especially given the recent downtrend in price and the subsequent rise in liquidations. Story continues Liquidations occur when an exchange forcefully closes a trader’s 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. The chart below suggests short traders , or those positioned for a price drop, could soon face liquidations if BTC enters a recovery phase, similar to what occurred last July. Bitcoin long/short liquidations (Glassnode) Altcoin roundup Near and other FOAN tokens are reaching all-time high: While all major cryptocurrencies saw prices spike higher on Wednesday, a few popular tokens stood out. Fantom (FTM), harmony (ONE), cosmos (ATOM) and near (NEAR) surged as high as 21%. Traders in crypto circles colloquially refer to a basket of those tokens as “ FOAN ,” a set of tokens associated with layer 1 blockchains primed for decentralized finance (DeFi) activity with their cheap and fast networks. Fundamentals for the FOAN basket shows promise for traders, Shaurya Malwa and Lyllah Ledesma reported. Read more here . Ethereum reaches a staking milestone: The top four staking entities on the Ethereum 2.0 Beacon Chain now cumulatively account for 47.5% of total deposits, with Lido making a significant jump. Over time, decentralized staking providers like Lido and RocketPool have closely aligned with the health of Ethereum, allowing the protocols to choose a variety of node operators that run different clients and diversify concentration risk, according to CoinDesk’s Edward Oosterbaan . Read more here . Solana becoming Visa of the digital-asset world: The Solana blockchain could become the “Visa of the digital asset ecosystem” as it focuses on scalability, low transaction fees and ease of use. It could grab market share from the Ethereum blockchain over time, Bank of America said in a research note. Solana is optimized for consumer use cases such as micropayments and gaming. Read more here . Relevant news FinCEN, FDIC to Hold 'Tech Sprint' for Digital Identity Tools Simplify Files Application With SEC for Web 3 ETF Pay-to-Play Governance Builds Steam as Bribe Raises $4M Wikipedia Faces Pressure to Stop Accepting Crypto Donations on Environmental Grounds Hong Kong Monetary Authority Issues Discussion Paper on Crypto Assets and Stablecoins Other markets Most digital assets in the CoinDesk 20 ended the day higher. Largest winners: Asset Ticker Returns Sector Stellar XLM +10.8% Smart Contract Platform Cardano ADA +9.5% Smart Contract Platform Cosmos ATOM +8.8% Smart Contract Platform Largest losers: Asset Ticker Returns Sector Internet Computer ICP −0.2% Computing 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. || MARATHON DIGITAL HOLDINGS, INC. (NASDAQ:MARA) SHAREHOLDER CLASS ACTION ALERT: Bernstein Liebhard LLP Announces that a Securities Class Action Lawsuit Has Been Filed Against Marathon Digital Holdings, Inc. (NASDAQ: MARA): NEW YORK, NY / ACCESSWIRE / December 21, 2021 / Bernstein Liebhard LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or acquired securities of Marathon Digital Holdings, Inc. ("Marathon" or the "Company") (NASDAQ:MARA) between October 13, 2020 and November 15, 2021, inclusive (the "Class Period"). The lawsuit was filed in the United States District Court for the District of Nevada and alleges violations of the Securities Exchange Act of 1934. If you purchased or otherwise acquired Marathon securities, and/or would like to discuss your legal rights and options , please visit Marathon Digital Holdings, Inc. Shareholder Class Action Lawsuit or contact Joe Seidman toll free at (877) 779-1414 or [email protected] . Marathon is a digital asset technology company that mines cryptocurrencies with a focus on the blockchain ecosystem and the generation of digital assets in U.S. The Company was formerly known as "Marathon Patent Group, Inc." and changed its name to "Marathon Digital Holdings, Inc." on March 1, 2021. In October 2020, Marathon announced the formation of a new joint venture with Beowulf Energy LLC ("Beowulf"), purportedly focused on delivering low-cost power to Marathon's Bitcoin mining operations (the "Beowulf Joint Venture"). In connection with that joint venture, Marathon entered into a series of agreements with multiple parties to design and build a data center in Hardin, Montana (the "Hardin Facility"), issuing 6 million shares of its common stock to the parties of those agreements. According to the complaint, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (i) the Beowulf Joint Venture, as it related to the Hardin Facility, implicated potential regulatory violations, including U.S. securities law violations; (ii) as a result, the Beowulf Joint Venture subjected Marathon to a heightened risk of regulatory scrutiny; (iii) the foregoing was reasonably likely to have a material negative impact on the Company's business and commercial prospects; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times. Story continues On November 15, 2021, Marathon disclosed that "the Company and certain of its executives received a subpoena to produce documents and communications concerning the Hardin, Montana data center facility" and advised that the SEC may be investigating whether or not there may have been any violations of the federal securities laws. On this news, Marathon's stock price fell $20.52 per share, or 27.03%, to close at $55.40 per share on November 15, 2021. If you wish to serve as lead plaintiff, you must move the Court no later than February 15, 2022 . A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn't require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member. If you purchased or otherwise acquired Marathon securities, and/or would like to discuss your legal rights and options please visit https://www.bernlieb.com/cases/marathondigitalholdingsinc-mara-shareholder-lawsuit-class-action-fraud-stock-468/ or contact Joe Seidman toll free at (877) 779-1414 or [email protected] . Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal's "Plaintiffs' Hot List" thirteen times and listed in The Legal 500 for ten consecutive years. ATTORNEY ADVERTISING. © 2021 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. The lawyer responsible for this advertisement in the State of Connecticut is Michael S. Bigin. Prior results do not guarantee or predict a similar outcome with respect to any future matter. Contact Information: Joe Seidman Bernstein Liebhard LLP https://www.bernlieb.com (877) 779-1414 [email protected] SOURCE: Bernstein Liebhard LLP View source version on accesswire.com: https://www.accesswire.com/678768/MARATHON-DIGITAL-HOLDINGS-INC-NASDAQMARA-SHAREHOLDER-CLASS-ACTION-ALERT-Bernstein-Liebhard-LLP-Announces-that-a-Securities-Class-Action-Lawsuit-Has-Been-Filed-Against-Marathon-Digital-Holdings-Inc-NASDAQ-MARA
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 36852.12, 37138.23, 37784.33, 38138.18, 37917.60, 38483.12, 38743.27, 36952.98, 37154.60, 41500.88
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2017-09-07]
BTC Price: 4599.88, BTC RSI: 61.03
Gold Price: 1345.10, Gold RSI: 76.53
Oil Price: 49.09, Oil RSI: 57.79
[Random Sample of News (last 60 days)]
Sequoia and Andreessen Horowitz Are Secretly Backing This Cryptocurrency Hedge Fund: It’s a hedge fund savvy enough to have scooped up Bitcoin when it was free. One of its founders is the well-known CEO of AngelList,Naval Ravikant. It’s backed by a roster of Silicon Valley’s top venture capital firms, and boasts returns of more than 500%. And you’ve probably never heard of it.
Meet MetaStable Capital, a stealthy startup hedge fund based in San Francisco that invests only in cryptocurrencies such as Bitcoin and Ethereum. Since its launch in September 2014, MetaStable has delivered such eye-popping performance that it apparently lets the numbers mostly speak for themselves; it shuns publicity and never announced its recent fundraising round.
Still,Fortunehas learned many of the details. In the spring, Andreessen Horowitz, Sequoia Capital, Union Square Ventures, Founders Fund and Bessemer Venture Partners all invested in MetaStable, according to several of the VCs and other people close to the fund.
Notably, it’s only Sequoia’s second investment in a blockchain-related company in that venture capital firm’s 45-year history; the first was earlier this year, inPolychain Capital, in a $200 million round in which Andreessen, Union Square Ventures and Founders Fund also participated.
In contrast to MetaStable, though, Polychain has been much more welcoming of press (its founder, Olaf Carlson-Wee, is on the cover ofForbes‘ latest issue). It also differs in its strategy: Whereas Polychain specializes in investing in other blockchain companies through what’s known as aninitial coin offering(or ICO)--an investment style that has been likened to venture capital--MetaStable invests directly in digital currencies that it believes could become a new form of money.
Now, MetaStable owns about a dozen different cryptocurrencies, including Bitcoin (which one of the fund’s co-founders, Lucas Ryan, originally received for free in 2011), Ethereum, and Monero (of which the fund holds nearly 1%, or about $6 million worth, of all outstanding coins), according to a pitch deck seen byFortune.
Josh Seims, MetaStable’s third co-founder, says the fund takes a value investing approach, “sort of what you imagine a Warren Buffett doing, but it's kind of oxymoronic to use these terms in the space because everything is so ephemeral.” An example in the pitch deck illustrates the fund’s skill in “Bitcoin crisis investing,” a Buffett-like concept of investing when others are fearful: When Bitfinex, a major cryptocurrency exchange, washacked last summer, the price of Bitcoin swiftly plunged more than 20% to under $550, and MetaStable took the opportunity to double its Bitcoin position within the next few hours. The price of Bitcoin has since more than quadrupled.
Rather than try to time the market or buy into the newest blockchain trend, MetaStable looks closely at the real-world use cases of various digital currencies, and aims to make at least decade-long bets on the most “credible candidates,” Seims tellsFortune. “There’s a handful of, say between five and 10 of these major use cases that could be trillion-dollar blockchains,” he says. “It's all very long-term focused, and we think we're in super early days right now. It really comes down to which do we think is the strong enough technology, that we think can win.” (So far, MetaStable has also exhibited an edge in dodging some of the duds: It skippedThe Dao’s token offeringlast year, correctly predicting that it would be hacked; and also steered clear of the cryptocurrency Steem, which has largely turned out to be a flop.)
Through mid-March, MetaStable’s flagship fund had returned 539% over its short lifetime, including 86% in the first two-and-a-half months of 2017 (a time period in which the Bitcoin price was up almost 28%).
Since then, though, Bitcoin and Monero have each more than doubled; Ethereum, meanwhile, is worth more than five times what it was four months ago. (Year to date, the Ethereum price has risen more than 2,300%.) That means that MetaStable’s returns are actually much, much higher than the ones listed in its March presentation documents. A person close to the fund simply says it has “vastly outperformed Bitcoin;” that puts its 2017 returns at a minimum of 170% and likely far greater.Fortuneestimates that MetaStable’s returns since its inception now exceed 1,000%.
One caveat is that the fund is likely relatively small by hedge fund standards, which makes it somewhat easier to post outsized return figures. Still, in the fledgling industry of cryptocurrency hedge funds, MetaStable appears to be one of the heavyweights. A recentForbesreport listed its assets at $45 million, but that was before the recentsurge in cryptocurrency pricesover the last few months. MetaStable’s portfolio more than doubled in value in May alone, according to a source close to the fund; on June 23, after aBitcoin and Ethereum price crash, the hedge fund reported total assets of $69 million in a regulatory filing.
It’s not clear how much of those assets are venture capital dollars; typically, when VC firms invest in other funds (the startup accelerator Y Combinator, backed by Sequoia, is one prime example), they can choose to invest in the company itself (or “general partner”) or in the actual fund that company manages, or both. In the case of Polychain, for one, Union Square Venturessaid it backed the firm but also put some moneyinto the hedge fund.
The abundance of capital is also enticing a slew of other cryptocurrency hedge funds to test the waters for themselves. According toHedge Fund Alert, there are at least 15 such funds already up and running, but as many as 25 more are in the works.
Investors should expect similar restrictions and high fees as the ones that exist with traditional hedge funds: MetaStable requires a minimum investment of $1 million, and has a “2 and 20” structure for one of its funds, charging a management fee of 2% of assets, and a performance fee of 20% of the profits. A riskier fund has a 1.5% management fee and a 25% performance fee.
See original article on Fortune.com
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• Bitcoin Averts Split Into Two Currencies || AUD/USD Forex Technical Analysis Weekly Chart Pattern Flat Ahead of RBA Decision, GDP Figures: The AUD/USD is trading slightly lower on Monday. U.S. banks are on holiday so we expect to see limited price action. Additionally, investors are not likely to move the move the Forex pair too much ahead of Tuesdays Reserve Bank of Australia interest rate decision and Wednesdays quarterly GDP report. Because of the light trade, were going to look at the weekly chart today. Weekly AUDUSD Weekly Technical Analysis The main trend is up according to the weekly swing chart. A trade through .8065 will signal a resumption of the uptrend. A move through .7807 will change the main trend to down. The short-term range is .8065 to .7807. Its 50% level or pivot is .7936. The recent price action strongly indicates that reaction to this price level will determine the near-term direction of the Forex pair. The main range is .7329 to .8065. If there is a change in trend to down then its retracement zone at .7697 to .7610 will become the primary downside target. Forecast Based on Fridays close at .7966, the direction of the AUD/USD this week is likely to be determined by trader reaction to a support cluster at .7945, .7936 and .7927. A sustained move over .7945 will indicate the presence of buyers. This could create enough upside momentum to challenge a pair of Gann angles at .8005 to .8009. Taking out this level could lead to a test of the next downtrending angle at .8035. This is the last major downtrending angle before the .8065 main top. Taking out .8065 will signal a resumption of the uptrend with the next likely target area .8162 to .8165. A sustained move under .7927 will signal the presence of sellers. This could trigger a break into an uptrending angle at .7867. This is followed by the main bottom at .7807. Taking out .7807 will change the trend to down and put the AUD/USD on the path to .7697. This article was originally posted on FX Empire More From FXEMPIRE: The Jury is Out on Bitcoin Gold Prices Shoot Higher on Higher Risk Nervous Investors Shed Risk and Bought Gold Daily Economic Calendar, September 5, 2017 Market Snapshot Asian News Triggers Todays Moves Bitcoin, Ethereum, and Other Cryptocurrencies Tumble after China Bans ICOs || Advanced Micro Devices, Inc (AMD) Stock Could Fall Much Harder: The hype appears to be wearing off for Advanced Micro Devices, Inc. (NASDAQ: AMD ). Despite a string of positive news events and favorable media coverage, AMD stock has stalled out. In fact, the stock recently reversed course after hitting $15 again and has since fallen 20%. AMD stock previously topped out at $15 in February, and it is looking like a bearish technical double top for the shares at this point. Advanced Micro Devices, Inc (AMD) Stock Could Fall Much Harder Source: Matthew Rutledge via Flickr Why has AMD’s rally stalled out? It starts with earnings, reported late last month. The numbers beat expectations and led shares to rally above $15. But within a couple days, shares fell back under $14 and have continued downward since then. Earnings: Just Not Good Enough AMD turned the corner in one positive way with this latest release. The company put in a positive EPS figure. As a reminder, AMD hasn’t earned a full-year accounting profit since 2011, and it rarely breaks even on a quarterly basis either. So Q2’s positive two cents of EPS is an encouraging sign. And AMD’s positive update to forward guidance didn’t hurt either. InvestorPlace - Stock Market News, Stock Advice & Trading Tips 7 Stocks to Buy With a $2,000 Start That said, it’s hardly sufficient to support the current AMD stock price. Annualize AMD’s quarter and they’d make a dime of earnings for the year, leaving the stock at a more than 100x PE ratio. Analysts have AMD at a 40x forward price-earnings ratio. That is based on the assumption that earnings will pick up significantly heading into 2018. But this optimism may be misplaced, as we’ll see in a minute. And if earnings don’t pick up, there is little else that would support AMD’s stock, given its weak balance sheet and lack of a technological moat. Next-Generation Sales Don’t Seem That Strong Despite the strong earnings report, not all observers reacted favorably. Barclays’ analyst, for example, didn’t change their outlook following last quarter’s release. Barclays decided to stick with their underperform rating and $9 AMD stock price target. The analyst suggested that AMD’s strong earnings result came primarily from the cryptocurrency mining boom, rather than its improved CPU chips. And that’s a real problem since most of the bull run in AMD stock was based on the idea that AMD was finally ready to pull ahead of its chief rival Intel Corporation (NASDAQ: INTC ) in CPU chips. However, the general consensus from various benchmarking tests is that Ryzen is merely on par with Intel’s latest chipset. And given the Intel has another next-generation set of processors on the way, Ryzen’s ability to merely pull even with Intel for a few quarters isn’t that inspiring. Story continues AMD has moved the needle a bit in terms of market share. After years of steady erosion, AMD’s market performance is up slightly. Between 2008 and 2012 ( data source ), AMD’s share of the market held steady around 29%. From 2012, this steadily eroded and recently fell below 20%. From its nadir at 18% last year, AMD has now moved back to 22.4%. That’s some improvement, but hardly a return to the 40%+ market share AMD had prior to 2006 when its chips were truly competitive with Intel. In graphic cards, AMD also failed to live up to expectations. The Vega isn’t a bad offering by any means. But after so much R&D and positive talk, investors were hoping that the Vega would compete with Nvidia Corporation’s (NASDAQ: NVDA ) GeForce GTX 1080 TI. Now to be fair, the Vega can more than keep up with the ordinary 1080. That will be enough for many consumers. However, Vega is unlikely to make nearly as many inroads into the high end of the market as analysts had forecast. Next Page Mining Boom May Fade If AMD’s new product launches aren’t going that strongly, what drove this quarter’s better than expected results? Unfortunately, it’s difficult to say exactly, since AMD doesn’t break out its revenues in great detail. However, Barclays suggests – and evidently many investors agree – that the strong sales may be a result of the current cryptocurrency boom. Since March of this year, Ethereum has run up from $15 per coin to as high as $400 recently. Even after a correction, Ethereum has held its ground and now trades at $320, up 3,000% year-to-date. This has, predictably enough, set off a fresh graphics boom. Mining organizations are rushing to buy the latest GPUs that are optimized for crypto-mining. With Ethereum prices currently so high, it has created a powerful tailwind for this type of demand. However, it likely won’t last. When the price of something goes up 25x in a year, it tends to experience a serious correction, if not an outright bust, sooner or later. AMD CEO Lisa Su is well aware of this. In AMD’s latest conference call, she stated that: “I also think that we want to be cognizant of the fact that some of the graphics demand that we see might be temporal. So we’re not counting on that staying through the full year. We’ll see what happens. Frankly, I think we’ll see what happens with the whole mining stuff.” AMD Stock Heading Lower For Now She’s right to sound a cautious note on mining demand. But it’s terrible news for AMD stock. The market’s reaction to last quarter’s seemingly positive earnings shows exactly why. It’s really disappointing for long-time AMD bulls that the company could only put up two cents of EPS in a quarter with exciting new product launches and a mining boom. Past mining booms have quickly faded, with cards purchased to mine Bitcoin and Litecoin quickly ending up on the second-hand market once mining profitability declined. And there is little evidence that AMD’s new product launches elsewhere have finally lifted the company into a sustainable competitive position. Yes, its market share has advanced slightly. But that’s a far cry from having a competitive moat that will ensure ongoing profits. 3 Back-to-School Tips to Teach Your Teen Responsibility This technological race continues to be a treadmill, and both Intel and Nvidia have far more resources to make sure they win the R&D battles going forward. With AMD stock appearing to have double-topped at $15 recently, shares could move sharply lower next quarter if earnings disappoint even slightly. At the time of this writing, Ian Bezek owned INTC stock. He had no positions in any of the other aforementioned securities. You can reach him on Twitter at @irbezek. More From InvestorPlace 10 Stocks That Every 20-Year-Old Should Buy 3 Steps to Successfully Renting Your First Apartment 4 Ways Back-to-School Retail Will Never Be the Same The post Advanced Micro Devices, Inc (AMD) Stock Could Fall Much Harder appeared first on InvestorPlace . View comments || Dow notches fifth consecutive record high as crude oil plunges: Stocks are up at the midday mark, with the major indices (^DJI,DIA,^GSPC,SPY,^IXIC,QQQ) modestly in the green. The financial (XLF) and tech (XLK) sectorsare leading the way up, while (ironically) the industrial (XLI) sector is the most in the red.Alan Valdes, director of floor operations at Silverbear, joins us live from the New York Stock Exchange. To discuss the other big stories of theday, Alexis Christoforous is joined by Yahoo Finance’s Dan Roberts, as well as Yahoo Finance tech critic David Pogue, andMark Martiak, senior wealth strategist at Premier Wealth First Allied Securities.
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• Soda consumption falls to 31-year low || How Overstock deals with volatile bitcoin prices: Bitcoin has always had a long history of volatility and is currently on a big upswing. For much of January, the cryptocurrency sat at under $1,000. Now, a single bitcoin is worth more than $4,610. This volatility may be great for bitcoin investors, but the growth has hindered bitcoin’s effectiveness as a currency , as people are reluctant to spend or transact during a surge. For many, at the moment, bitcoin is largely a hedging tool or an investment. For companies that take bitcoin as a form of payment, however, the volatility poses another challenge: dealing with accepting a currency that may change in value significantly on a daily basis. Businesses are used to dealing with fluctuating currencies, but nothing like the 385% increases that bitcoin has seen over the past few months. Accepting Bitcoin requires figuring out a strategy to deal with the risk. REUTERS/Bobby Yip/File Photo In 2014 Overstock ( OSTK ) was the first major retailer to accept bitcoin, becoming the first billion-dollar business to take the leap. The company’s strategy was to pocket 10% of a sale in bitcoin and convert the rest into U.S. dollars. To facilitate transactions, Overstock used Coinbase’s exchange to convert digital currency in real-time. But during the surge this year, Overstock CEO Patrick Byrne changed the online retailer’s policy in two major ways. Overstock’s new policy: keep half “What we do now is 50% gets turned into U.S. dollars and 50% gets held as bitcoin,” Byrne told Yahoo Finance. “So we’re accumulating that bitcoin.” In the first week of August, Overstock announced it would be accepting nearly all major cryptocurrencies by partnering with ShapeShift, another exchange. However, alternate cryptocurrencies that the company will retain on its books will be converted into bitcoin. Beyond holding, Byrne said the company doesn’t use any swaps or forwards or any other fancy financial instruments to hedge Overstock’s bitcoin investments. “Just by accumulating half, that just feels like the right number for now,” Byrne said. In his view, the risk doesn’t lie as much in bitcoin but in government currency. Story continues Bitcoin prices have skyrocketed in 2017, prompting Overstock to change its policy on how much to keep. On its face, that might seem like a lot of bitcoin to have on its balance sheet — something shareholders in a public company may not be so comfortable with. But in reality, it’s not much: just about one-sixth of 1% (0.15% to be precise). Even if it is, however, Byrne’s policy probably won’t change. “I think people should think about hedging risk in fiat currency,” he said. “It’s just what some government mandarin created with a pen. Why don’t they hedge risk in holding that? The risk isn’t bitcoin to the dollar. The question is why are we doing business in dollars when we could do it in bitcoin?” Bitcoin still struggles to be a transactional currency Byrne laments the investing-over-using mentality that the surge has engendered for the small bitcoin transaction volume on Overstock — though considering most of the population is bitcoin-illiterate, 0.15% may actually be a sizable amount. “People just wanna hold onto it rather than spend it — they want to hoard it,” said Byrne. “You know the first bitcoin transaction? The guy who sent it gave 10,000 bitcoins for a pizza. That was a $35 million pizza [today]. So everyone’s a bit afraid to spend.” “When Overstock decided to open its doors to bitcoin, it was charting unknown territory,” said Byrne. “It accelerated the familiarization of the cryptocurrency by years.” Byrne would love if others took a similar leap, even if on a smaller level. “If people would start using it, it would get more liquid, more valuable,” he said. “I wish people who held bitcoin would take 10% and say ‘I am gonna spend this to stimulate the market.’” So what’s stimulating the market now? According to Byrne, it’s not what you would expect — the biggest category that people are spending on is things like pillows and comforters. His theory? One person in the family might be bragging about success in the recent bitcoin surge and another family member says, “great, now go buy us some new things for the house.” Ethan Wolff-Mann is a writer at Yahoo Finance focusing on consumer issues, tech, and personal finance. Follow him on Twitter @ewolffmann . Got a tip? Send to: [email protected] . Read More: The real reason Mexico will never pay for the Trump’s wall: It’d be ‘treason’ How Waffle House’s hurricane response team prepares for disaster What bitcoin needs to do to become real currency Trump weighs slashing one of the most popular tax deductions 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 || The Trump administration may seek to investigate affirmative-action practices on college campuses: (Scott Olson/Getty Images)
The Trump administration is reportedly floating the possibility of investigating affirmative-action practices on college campuses,according to a New York Times reportciting internal documents from the US Justice Department's civil rights division.
That arm of the DOJ is reportedly seeking lawyers who would be tasked with investigating, and possibly suing, higher-education institutions over alleged "intentional race-based discrimination."
The program, if implemented, would be run out of the civil-rights division's front office, The Times' report said, meaning it would be overseen by Trump's political appointees, not the division's career employees.
The document cited by the newspaper does not specify which ethnic groups the Trump administration sees as being subject to a disadvantage in college admissions as a result of affirmative action. However, some critics view it as potentially targeting so-called reverse discrimination against white applicants, a matter that has gained some notoriety in recent years.
The proposed program is loaded with potential blowback, partly because the Trump administration has called into question a number of civil-rights-related matters since President Donald Trump took office — including Obama-era efforts toincrease oversight of police departmentsnationally,and increased protectionsfor LGBTQ people.
NOW WATCH:A mother and daughter stopped speaking after Trump was elected — here's their emotional first conversation 6 months later
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• 50 must-have tech accessories under $50 || Weekly outlook: August 21 - 25: Dollar slides as political uncertainty, Fed hike doubts weigh Investing.com - The dollar fell against a basket of the other major currencies on Friday as U.S. political uncertainty and growing doubts over the prospects for another rate hike by the Federal Reserve this year weighed. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.3% at 93.36 late Friday. For the week the index was up 0.43%. USD/JPY was down 0.36% at 109.18 in late trade. The greenback fell to four month lows against the Japanese currency earlier in the day but pared losses after reports that senior White House advisor Steven Bannon was leaving his post. 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 have fed into recent dollar weakness. The dollar surged to 14-year highs after Trump’s November election on hopes that his plans for fiscal stimulus and tax reform would bolster the economy. The dollar has since given up its post-election gains amid mounting concerns about the administration’s ability to deliver on its agenda. Lower rates typically weigh on the dollar by making U.S. assets less attractive to yield-seeking investors. The euro was higher against the dollar, with EUR/USD rising 0.32% to 1.1760. The single currency was also higher against sterling, with EUR/GBP advancing 0.25% to 0.9132. The euro posted its third consecutive weekly gain against the pound, rising 0.56% amid growing expectations that the Bank of England will keep interest rates on hold in the coming months amid concerns over the economic fallout from Brexit. In the week ahead , investors will be looking ahead to speeches by central bankers at the Fed’s annual central bank symposium in Jackson Hole, Wyoming. Investors will also be watching U.S. data on housing and durable goods to gauge how it will impact on Fed policy, while the euro zone is to release data on private sector activity. Story continues Ahead of the coming week, Investing.com has compiled a list of these and other significant events likely to affect the markets. Monday, August 21 Canada is to release data on wholesale sales. Tuesday, August 22 The UK is to release data on public sector borrowing. The ZEW Institute is to report on German economic sentiment. Canada is to release data on retail sales. Wednesday, August 23 European Central Bank President Mario Draghi is to speak at an event in Germany. The euro zone is to release data on manufacturing and service sector activity. Dallas Fed President Robert Kaplan is to speak. The U.S. is to release data on new home sales. Thursday, August 24 The UK is to release revised data on second quarter growth. The U.S. is to report on jobless claims and existing home sales. Meanwhile, the annual meeting of top central bankers and economists in Jackson Hole will get underway. Friday, August 25 The Ifo Institute is to report on German business climate. The U.S. is to release data on durable goods orders. ECB President Mario Draghi is to speak in Jackson Hole. Related Articles Forex - Dollar index holds onto gains in subdued trade Forex - USD/CAD erases gains, hits 3-week lows Bitcoin falls below $4,000 to hit 7-day low || Gold Price Prediction for September 1, 2017: Gold prices surged higher as the dollar lost ground paving the way for higher prices for the yellow metal. Prices surged higher closing at 10-months highs and poised to test target resistance near 1,337. Support is seen near the 10-day moving average at 1,284. Momentum has turned positive as the MACD (moving average convergence divergence) index generated a crossover buy signal. Pending Home Sales Fell U.S. pending home sales fell 0.8% to 109.1 in July after rising 1.3% to 110.0 in June. Sales have declined in five of the seven months so far in 2017. Regionally, sales fell in the South, the Midwest and the Northeast but edged up in the West. Compared to last July, sales slid to -0.5% year over year versus the 0.4% year over year gain in June. Lean inventories continue to be a headwind for sales, particularly in the West where annual sales are down -3.2% year over year. This article was originally posted on FX Empire More From FXEMPIRE: Gold Price Prediction for September 1, 2017 Gold Resistant to the Stronger USD and Higher Stocks Investors Ready for Crucial Data from States Next Two Days, Bitcoin Prices Hold Near Record High Gold Price Futures (GC) Technical Analysis – August 31, 2017 Forecast Commodities Daily Forecast – August 31, 2017 Gold Daily Analysis – August 31, 2017 View comments || 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. "Theres 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 || Bitcoin Rockets Past $3,000 to a New Record High: In just four hours of early Saturday trading, the price of the cryptocurrency Bitcoin surged over 9% to a new record. At the time of this writing, one Bitcoin is valued at $3,169.90, well above the previous record of $3,000 setin June.
Bitcoin’s total market value is now more that $52 billion, according to data from CoinMarketCap, and the return on Bitcoin investments made on January 1st of this year stands at nearly 220%.
Bitcoin will almost certainly remain a highly volatile asset, but its latest high reflects a major positive development. After years of heated debate over how to increase the Bitcoin network’s transaction capacity, major players have finally agreed on a compromise solution known asSegwit2x. That accomplishment is reassuring for those who may have begun to doubt the effectiveness of Bitcoin’s leaderlessgovernance model.
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The Segwit2x solution also seems to have driven Bitcoin’s price higher in a less direct way. On Tuesday, a faction who disagreed with the proposal spun off a so-called ‘fork’ of Bitcoin, known asBitcoin Cash, which implemented a different fix. All holders of Bitcoin received matching Bitcoin Cash, which now trades as BCH on exchanges, and has a total current value of $3.75 billion.
However, the price of Bitcoin Cash has declined steadily over the last two days as Bitcoin and other major cryptocurrencies have surged. That suggests investors are cashing out of the upstart fork, which has sparse support fromminersand exchanges, and pumping their gains back into older, more trusted, and more widely-adopted cryptocurrencies.
[Random Sample of Social Media Buzz (last 60 days)]
One Bitcoin now worth $3973.27@bitstamp. High $4268.25. Low $3900.00. Market Cap $65.617 Billion #bitcoin || BTCも１BTC45万いってるのか…4万のときにいれていれば
ってまぁお金がないんですけどね！！！！！ || Let's pray for US$5000 by the end of this month #BTC #bitcoin || Bitcoin just passed $4,000 https://techcrunch.com/2017/08/12/bitcoin-just-passed-4000/ … #tech || BTC Real Time Price: ThePriceOfBTC: $4776.90 #GDAX;
$4771.79 #bitstamp;
$4770.04 #gemini;
$4785.00 #kraken;
$4750.93 #hitbtc;
$4843.00 #cex; || Bitcoin - BTC
Price: $4,534.13
Change in 1h: -0.21%
Market cap: $75,028,910,644.00
Ranking: 1
#Bitcoin #BTC || NovaExchange #6 Market(2.94%) ETH/BTC - Ethereum Vol(24h):8.525 BTC / $34,755 - Price: $293.94 / 0.0721 BTC || Coinsbank Bitcoin Cards with real-time conversion. Get a card in USD/EUR/GBP and spend Bitcoins instantly https://coinsbank.com/cards #coinsbank || Bitcoin keeps going up, so whatever these Nazis are doing, keep doing it! || #Forex #Brokers Accepting #Bitcoin for Deposits or Withdrawal http://ift.tt/2vuo19l pic.twitter.com/VAI0P9OoVj
|
Trend: down || Prices: 4228.75, 4226.06, 4122.94, 4161.27, 4130.81, 3882.59, 3154.95, 3637.52, 3625.04, 3582.88
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2019-01-23]
BTC Price: 3585.12, BTC RSI: 42.58
Gold Price: 1283.10, Gold RSI: 57.94
Oil Price: 52.62, Oil RSI: 55.90
[Random Sample of News (last 60 days)]
A Clean Power ETF For Tomorrow’s Energy Trends: This article was originally published on ETFTrends.com. A significant part of new economy investment trends, also known as the fourth industrial revolution, are alternative and clean energy ideas. Some exchange traded funds tap into that theme, including the newly minted SPDR Kensho Clean Power ETF ( XKCP ) . XKCP debuted last month alongside the SPDR Kensho New Economies Composite ETF ( KOMP ) and the SPDR Kensho Final Frontiers ETF ( XKFF ) . The new ETFs, which track proprietary index methodologies developed by Kensho Technologies, an award-winning machine intelligence company, are designed to provide investors with cost efficient, diversified access to the potential growth of innovative companies widely considered to be driving the Fourth Industrial Revolution and ushering in the new economy. XKCP seeks to provide exposure to the clean power industry both in terms of generation and the underlying technology driving it. Alternative energy sources are an increasingly important part of the power generation conversation. The Energy Information Administration (EIA) “expects renewable energy to be the fastest growing energy source between now and 2040, recording a growth rate of 2.3% per year,” according to State Street . Inside XKCP ETF XKCP targets the Kensho Clean Power Index and holds 44 stocks. The ETF's top 10 holdings combine for over 41% of its weight. That group includes shares of Tesla Inc. ( TSLA ), the electric vehicle maker. Investments in clean energy projects are rising, potentially providing a long-term tailwind for ETFs like XKCP. “As a result, dollars are flowing into the renewable energy space. In 2017, $330.5 billion was invested in clean energy, just shy of the record investment seen in 2015,” said State Street. Related: Investors Fixated on G-20 Summit and Trump-Xi Meeting Fifteen industry groups are represented in XKCP with the dominant sector exposures being utilities and technology. Declining costs, which are making clean energy sources cost-effective relative to some fossil fuels, also bode well for the industry. Story continues “In turn, costs are falling. For instance, utility-scale solar costs dropped by 25% over just two years, making solar energy increasingly competitive with traditional inputs like coal,” said State Street. “These trends are spurring market growth.” XKCP's annual fee is 0.45%, or $45 on a $10,000 investment. For more market trends, visit ETFTrends.com . POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM SPY ETF Quote VOO ETF Quote QQQ ETF Quote Top 34 Gold ETFs Top 34 Oil ETFs Kevin O’Leary: Resist the Urge to Overspend on an Engagement Ring An Emerging Market ETF That Capitalizes on the Growing Middle-Class Consumer Consider Bitcoin Cash When Crypto Carnage Stops Apple Acquires AI Startup Silk Labs Holiday Shopping Could Top $1 Trillion This Year READ MORE AT ETFTRENDS.COM > || Free Online Course: Trading from A to Z: Every day we are bombarded with news that the price of oil has increased, gold dropped, the euro weakened, the dollar strengthened, stocks went up, etc. Millions of people around the globe are using this information every day to potentially earn through trading in the global markets.
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Thisarticlewas originally posted on FX Empire
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• EUR/USD Price Forecast – Upside Limited Despite Rebound Action Owing to Lack Of Fundamental Support || Dow Futures, Bitcoin Price Recover as Markets Claw Back Early-Week Losses: ByCCN.com: The US stock market appears to be having second thoughts about yesterday’s colossal sell-off, as Dow Jones futures are implying triple-digit gains at the opening bell. The cryptocurrency market is also trending up, with some analysts arguing that the bitcoin price has found a bottom.
As of 8:36 am ET, Dow Jones Industrial Average futures had climbed by 181 points or 0.74 percent, implying gains of 193.52 points at the open. S&P 500 and Nasdaq futures had also made gains, with the Dow’s two sister indices adding 0.43 percent and 0.46 percent, respectively.
[caption id="attachment_158971" align="aligncenter" width="1024"]
Dow Jones Industrial Average (blue), S&P 500 (red), and Nasdaq (orange) futures all made significant gains ahead of the market open.[/caption]
All three indices had suffered enormous losses on Tuesday as the US stock market resumed trading following the Monday holiday. The Dow closed 301.87 points in the red after plunging more than 400 points earlier in the day, reducing the index to 24,404.48 for a single-day loss of 1.22 percent. The S&P 500 and Nasdaq fell even further, with the former slipping 1.42 percent to 2,632.90 and the latter careening down 1.91 percent to close at 7,020.36.
Read the full story onCCN.com
. || Will it be a ‘Feliz Navidad’ for Mexico ETFs?: This article was originally published on ETFTrends.com. Andrés Manuel López Obrador was recently sworn in as Mexico's 58th president, but will the recent regime change result in a "Feliz Navidad" for the country as a whole and Mexico-focused exchange-traded funds (ETFs)? Early signs point to "yes" as President AMLO, his more familiar moniker, has taken early steps in the right direction. The change in leadership comes as U.S.-Mexico border tensions were escalating. This stymied the momentum of Mexico-focused exchange-traded funds (ETFs) like the iShares MSCI Mexico Capped ETF ( EWW ) and Direxion Daily MSCI Mexico Bull 3X ShsETF ( MEXX ) --EWW gained as much as 3% on Monday's trading session, while MEXX rose as high as 9%. How AMLO handles the U.S.-Mexico border situation and his crafting of future policies will most certainly weigh heavily on the performance of these ETFs going forward. Baptism by Fire for AMLO Mexico's recent change in leadership saw the controversial leftist candidate AMLO become its next president for the next six years as the 65-year-old firebrand has been referred to as the country's version of U.S. President Donald Trump. That relationship with the very individual he was compared to will be tested as U.S.-Mexico relations regarding the border situation have become tenuous. In the meantime, the number of migrants heading into Mexico from Central American countries like Honduras continues to multiply exponentially as they attempt to seek asylum within the United States. The number of those applying for asylum legally outweighs the number of immigration officials that can process the requests, causing a situation in Mexico where the country could be overrun by overcrowded migrant camps and shelters. AMLO took his first steps to ameliorate the situation by signing an agreement with three Central American countries to address the seemingly uncontrollable flow of migrants into Mexico. According to Mexico's foreign ministry, the agreement included a plan to fund jobs creation in the areas where the migrants are congregating, particularly the border city of Tijuana. Story continues Vow to End Corruption Among the many vows he made to the Mexican people at last Saturday's inauguration, one of them was to address corruption in political realms. "We will carry out a peaceful and orderly but also deep and radical transformation," AMLO said . "Because we will put an end to the corruption and impunity that are blocking Mexico's rebirth." At the inauguration, AMLO also reiterated his focus on the issues that made his campaign popular, such as crime and poverty. Of course, AMLO's speech will only benefit Mexico ETFs if it's backed by subsequent action, but thus far, he's saying the right things. "I no longer belong to myself, I belong to you, I belong to the people of Mexico," AMLO vowed . Related: O Come, High Yield Faithful: Is Risk Back On? For more investment trends, visit ETFTrends.com. POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM SPY ETF Quote VOO ETF Quote QQQ ETF Quote Top 34 Gold ETFs Top 34 Oil ETFs Q&A with Industry Veteran Brian O’Donnell on ETF Distribution The Top 10 Health Insurance Trends of 2019 Kevin O’Leary: Resist the Urge to Overspend on an Engagement Ring An Emerging Market ETF That Capitalizes on the Growing Middle-Class Consumer Consider Bitcoin Cash When Crypto Carnage Stops READ MORE AT ETFTRENDS.COM > || Proposed License Requirements End Anonymous Crypto Selling and Buying in the Netherlands: Pete Hoekstra, the Netherlands ’ Minister of Finance, has received official advice that a licensing system should be introduced for crypto services, Dutch media outlet Nederlandse Omroep Stichting (NOS) reports on Jan. 18. Hoekstra reportedly requested advice about cryptocurrencies from the Netherlands’ Authority for the Financial Markets and the local central bank , De Nederlandsche Bank, at the beginning of last year. The minister announced that he started working in accordance with the advice immediately after receiving it. According to the article, the decreased crypto speculative mania has made investor protection actions less urgent. As a consequence of this lesser urgency, the emphasis is purportedly being placed on the prevention of money laundering and terrorist financing via crypto. The Netherland’s Financial Intelligence Unit noted that the number of unusual transactions with cryptocurrencies has increased from an average of 300 to up to 5,000 a year, NOS reports. The proposed licensing system would reportedly require crypto exchanges and wallet providers to monitor their customers’ transactions and report suspicious activity to authorities. The exchanges will also have to collect and store information about their customers in order to be able to hand it over to authorities in case of an investigation. The Netherland’s central bank reportedly announced that the companies will be tested before being granted the license, for instance to check if they are able to collect the required user data. Richard Kohl, a board member of the Bitcoin Nederland Foundation, has reportedly stated that the measure is “dramatic for young innovative companies,” defining the new regulations as a big step backward in the local innovation culture. The article report that he expects the new regulation to bring in large amounts of paperwork and vast expenses to the companies in order to stay compliant. All of this, according to Kohl, will cause major competitive disadvantages compared to large established parties such as banks. Story continues Kohl reportedly also declared that too little research has been done about the actual dangers brought on by cryptocurrencies, and that he thinks the measures taken are too extreme. He also pointed out his concerns about other possible consequences of the requirement of the storage of user data: “Banks and financial institutions already need to keep track of customer and transaction information [...] you may wonder how well our personal information is protected and used, such as how the Chinese government wants to be able to follow all transactions of all citizens.” As Cointelegraph reported in December of last year, cryptocurrency service providers will soon be required to obtain a license from the central bank of the Netherlands. In August 2018, news broke that an executive at the Dutch central bank had said that while cryptocurrencies are not “real money,” the bank has no plans to ban them. Related Articles: Swiss Bank Falcon Launches Crypto Wallet With Withdrawals to Fiat US Partner of Crypto Exchange Huobi Rebrands as Huobi Report: Critical Vulnerabilities Leaking User Data Found on DX.Exchange, Patched Later Israel National Economic Council Chair: BTC 'Intrinsically Inefficient, Will Disappear’ || Bittrex Launches Over-the-Counter Trading Platform for Bitcoin, Crypto: Major cryptocurrency exchange Bittrex will launch an over-the-counter (OTC) trading desk today, January 14, 2018, by 18:00 UTC. The service will allow investors to trade nearly 200 digital assets currently offered on the Bittrex trading platform.
OTC trading is popular with institutional investors who trade in large volumes of cryptocurrencies. This form of crypto trading happens between two parties, and it takes place away from the exchanges. OTC trades are often handled via brokers, who offer high-volume traders a trading desk to execute large trades with a faster settlement and lower fees.
Bittrex will offer users “guaranteed pricing” for large block trades starting at $250,000 or more.
In a statement released to the media, Bittrex CEO Bill Shihara said the OTC service would “further advance the adoption of blockchain technology worldwide,” while providing high volume traders with much needed “price certainty and a fast and easy way to trade large blocks of digital assets.”
Having opened an international trading platform for non-U.S. traders in October 2018, Bittrex is poised to serve large-scale traders with its OTC trading desk. The exchange follows in the footsteps of other U.S.-based digital asset platforms, who have an OTC trading desk dedicated to large volume traders. This list includes Coinbase,Bitfinexand Poloniex.
Coinbase launched its over-the-counter crypto trading desk in November 2018, but the service is only accessible to Coinbase Prime customers. Coinbase head of sales Christine Sandlernoted thatthe service would allow the exchange's clients to “leverage both our exchange and our OTC business.” She also speculated about the future integration of the OTC service with Coinbase Custody.
Earlier this month, cryptocurrencyfinance firm Circlesaid it executed 10,000 OTC trades in 2018, accumulating $24 billion in notional volume, per a Medium post.
"At the other end of the spectrum, our OTC trading business, Circle Trade, has continued to expand despite a tumultuous year for the industry: we onboarded a record number of new institutional clients."
This article originally appeared onBitcoin Magazine. || Bitcoin Lower as Ireland Targets Crypto in Anti-Money Laundering Bill: Investing.com - Cryptocurrency prices were mostly lower on Friday as Ireland passed an anti-money-laundering bill.
Bitcoin fell 1.7% to $3,768.30 on the Investing.com Index, as of 7:58 AM ET (12:58 GMT).
The digital coin was launched 10 years ago, but remains far from the everyday currency its creator, Satoshi Nakamoto, envisioned. Bitcoin has had a volatile year, down nearly 70% in 2018 and far from its peak of $20,000 in December 2017. Other coins have also fallen dramatically amid concerns of increased regulatory scrutiny and volatility.
Cryptocurrencies overall were slightly lower, with the total coin market capitalization at $130 billion at the time of writing, compared to $132 billion on Thursday.
Ethereum, or Ether, increased 1% to $150.75 and Litecoin was at $31.464, down 0.8%, while XRP slipped 2.5% to $0.35261.
Meanwhile, Ireland approved a bill aimed at combating money laundering. The proposed law would restrict the use of “virtual currencies for terrorist financing and limiting the use of pre-paid cards” and improves safeguards for financial transactions to and from “high-risk third countries,” according to The Irish Times.
This bill came after the European Commission’s fifth anti-money-laundering directive entered into force in July last year. The measures include limiting the use of anonymous payments via pre-paid cards, which will see virtual currency exchange platforms come under the anti-money-laundering rules.
EU member states are expected to implement the new rules into their legislation in January 2020.
In other news, DX.Exchange announced it would launch its trading platform on Monday, which will allow users to indirectly purchase shares of major companies through the token-based site. The company plans to use Nasdaq’s engine to facilitate the trade of digital securities.
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Ethereum Miner Linzhi Calls Out Project Coders for Proposed ASIC Ban || Precious Metals Lose Ground On Increased Risk Appetite Over Sino-U.S. Trade Deal Hope: Precious metals saw downward price action today as risk appetite returned in all major global markets following a cautious investor sentiment for four consecutive trading sessions. Majority of safe-haven demand and risk-off trading activity for the week came from European markets, but headlines from Asian market also hindered risk trading earlier this week which had helped gold and other precious metals see steady positive action. However, news hit the market during North American market hours that US officials are considering reversing tariff’s imposed on Chinese import goods in a bid to ease the impact of trade war on US economy and help close a trade deal with China. This news renewed hopes of a possible positive outcome in Sino-U.S. trade talks which is to be held at end of this month when Chinese Vice Premier Liu He is traveling to Washington for high-level trade talks between the two nations.
Given the fact that recent risk-off trading activities have provided precious metals market with significant positive price action, renewed risk on trading activity saw fund flow decrease in precious metals segment. Further profit booking activities also influenced some level of downward price action. However, buyers still remained in the market owing to weak USD in broad market as Greenback continues to suffer from the impact of partial government shutdown in US economy and Fed’s dovish stance on rate hike policy which helped bulls retain hold above $1280 handle. As of writing this article, spot gold XAUUSD is trading at $1285.39 per ounce down by 0.51% on the day while US gold futures GCcv1 were trading at $1284.50 per ounce down by 0.60% on the day. Meanwhile Silver also saw declines in spot market with XAGUSD pair down by 0.44% on the day trading at $15.45 per ounce.
Crude Oil price rebound in broad market as influence from US EIA crude oil inventory update faded away in the market. While crude oil market saw highly active week so far, there is no visible change in actual price action. The price has been on two-way action driven by news influenced momentum but support gained from OPEC crude oil production and supply cut implementation has helped prevent any sharp downside move. Given the strong support, any losses incurred from news driven momentum is shortly erased leaving the price unchanged near $50 to $53 price range per barrel. However positive high impact news or market update is required to push the price higher resulting in consolidative price action in the market. As of writing this article, Spot Crude oil WTIUSD is trading at $52.74 per barrel up by 1.07% on the day.
Thisarticlewas originally posted on FX Empire
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• Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 19/01/19 || Bitcoin sinks as cryptocurrency sell-off gathers pace: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Bitcoin plunged more than 12 percent on Monday, extending falls in recent weeks in a broad-based selloff in digital currencies as sentiment sours. Several factors have accelerated the downturn, analysts said, including increased U.S. regulatory scrutiny and a delay to January 2019 of the widely-anticipated launch of bitcoin futures by Bakkt, Intercontinental Exchange's crypto platform. "These factors coupled with lukewarm network fundamentals and reports of falling adoption of crypto as a tool for services such as payments, have led to strong selling pressure against a lack of buying resistance to a point of apparent capitulation," said Aditya Das, analyst at Brave New Coin, a crypto asset market data company. Bitcoin fell to as low as $3,519.94 on the Bitstamp platform, after earlier falling to a 14-month trough of $3,462,57, and was last down 12.6 percent. It has lost 74 percent of its value so far this year, after hitting nearly $20,000 in December last year. Other digital currencies also fell sharply, with Ethereum's ether down 7 percent at $106.69 and Ripple's XRP falling 5.6 percent to 34 U.S. cents. Cryptocurrency market capitalization plummeted to $122.3 billion on Monday, down 85 percent from its peak of nearly $800 billion hit in early January this year. Mainstream investors have stayed clear of bitcoin, with concerns over scant regulatory oversight and undeveloped market infrastructure compounded by frequent swings in price. Analysts said the U.S. Securities and Exchange Commission was partly to blame for the recent sell-off, with the delay in its approval of new bitcoin instruments, as well as for its investigations of initial coin offerings and crypto exchanges. The SEC has ordered civil penalties against Airfox and Paragon Coin that sold digital tokens deemed as securities in initial coin offerings. Those companies have agreed to return funds to harmed investors, register the tokens as securities, file periodic reports with the Commission, and pay penalties. Bloomberg reported this month that the U.S. Department of Justice had initiated an investigation of cryptocurrency Tether over possible manipulation of bitcoin prices at the end of last year. At the same time, the sharp price falls are seen by some as an opportunity to get into viable cryptocurrency projects at a discounted price. "It is important to highlight that none of the unpleasant headlines are directly related to the underlying fundamentals of legitimate cryptocurrency projects," said Donald Bullers, North American representative of web3 infrastructure platform Elastos. Story continues "Whether it's market manipulation accusations, a controversial fork, or short-term speculators deciding not to play the long game, this dip will cull the wheat from the chaff and the most important decentralization projects will continue to survive," he added. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Susan Thomas) View comments || Better Buy: Netflix vs. Facebook: FANG stocks are gettingde-FANG-ed, and the first and third members of the tech giant acronym are taking the hardest hits. Shares ofFacebook(NASDAQ: FB)andNetflix(NASDAQ: NFLX)have fallen 34% and 36%, respectively, since hitting all-time highs this summer.
Both internet bellwethers continue to dominate their respective industries. Facebook continues to be the world's leading social networking site, attracting 2.27 billion monthly active users. Netflix has 137.1 million total streaming memberships on its rolls. No one is even close to Facebook and Netflix in their realms, but the market apparently thinks that both companies are worth more than a third less than they did six months ago.
I'll spare you having to read until the end to get the victor. Netflix is a better buy than Facebook right now. Let's go over two big reasons why I'm rolling with Netflix in this battle.
Image source: Netflix.
It's amazing how much can change in just a year or two. Facebook grew its revenue by 54% in 2016, smoking Netflix and its 30% uptick. Last year, we saw Facebook's 47% top-line surge trounce Netflix's at 32%. They are passing ships now.
Facebook's revenue rose 33% in its latest quarter, its weakest top-line increase in six years. Netflix clocked in with 34% growth during the same three months, its first -- and likely not last -- period of outpacing Facebook. Analysts see growth slowing for both companies in 2019, but Netflix has the edge with a 26% improvement in revenue and Facebook at 24%.
A lot is going wrong for Facebook these days. There aredata privacy concerns, and those hiccups are beingmishandled by executives. The reputational hits are taking a heavy toll. The daily active user count has been flat in the U.S. and Canada for the past three quarters, checking in with an actual decline in Europe in the third quarter. Bulls will argue that Facebook is still winning, as it owns two of the platforms that are catching many of the Facebook defectors. However, Instagram and WhatsApp will never be as conducive to monetization as the mother of all social networking sites.
Netflix has skirted most of the brand-tarnishing nightmares. There's always some venom slinging when the service fails to renew a popular series. There was an article two months ago discussing its cutthroat corporate culture. None of this comes close to the faith-zapping nature of Facebook's miscues. Facebook controversies are likely playing a starring role in its decelerating growth, while Netflix is capping off a year that will be highlighted by its strongest revenue growth since 2011.
Netflix isn't the perfect investment. Valuation hounds will point out that it trades at three times the forward earnings multiple of Facebook. There aretechandentertainmentbehemoths that will hit the market with new streaming services next year.
However, for investors, there's a big difference between being currently broken -- as Facebook is at the moment -- and being potentially broken in the future as Netflix might be. One also can't deny momentum, as Netflix is piecing together its strongest growth in years while Facebook closes out its third year in a row of decelerating top-line growth. Both stocks may now be on sale, but Netflix is the smarter bargain here.
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Rick Munarrizowns shares of Netflix. The Motley Fool owns shares of and recommends Facebook and Netflix. The Motley Fool has adisclosure policy.
[Random Sample of Social Media Buzz (last 60 days)]
Bitcoin Pain Continues Massive Sell-Off As It Bleeds Below $3900 http://j.mp/2QokSTX || Here's the usd stop run. As you can see this trend line usually offers great kick/liquidity. Or it can die! Good thing for stops $xrp #xrp #ripple #bitcoin pic.twitter.com/VzkI0edQig || #binance #freezes #‘some’ #tokens #stolen from #cryptopia: #ceo #cz
#instacrypto #instaeth #bitcoin #altcoins #cryptocurrencymarket #SmartCash #cryptonews #decentralized #trading $BTC $BTCEUR #marketshttp://bit.ly/2DfK7k0 || すぐしろ || EXCLUSIVE AIRDROPDEALS ENDING 01-02-2019
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JOIN HERE https://vyper.io/c/8900hnplb || Check out our new article: This Week in Crypto – Facebook Blockchain Interest? Samsung BTC Wallet? https://goo.gl/VCFwa2 #Blockchain #Samsung #Facebookpic.twitter.com/Yh2YCdMQwP || Market Cap: $109,007,957,236
BTC Dominance: 54.92%
BTC: $3,436.27 | 1H: -0.14%
XRP: $0.30 | 1H: -0.18%
ETH: $90.55 | 1H: -0.11%
XLM: $0.11 | 1H: -0.59%
USDT: $1.00 | 1H: -0.14%
13.12.2018 17:28:25
Powered by #Robostopia || BTCはもう200万くらいになったとしても所詮今の数倍くらいでしかないからガチホってよりは回転でうまく遊んでれば良さそう || الان یه سریا میان کامنت میزارن پروپزال و فورک بعدی بیت کوین که دیگه بیت کوین نیست!
#bitcoin_maximalist || The hottest cryptocurrency, Tron, rekindles memories of the bitcoin bubble for worldwide traders https://blog.cryptoassethome.com/the-hottest-cryptocurrency-tron-rekindles-memories-of-the-bitcoin-bubble-for-worldwide-traders/ … ---
Memories die hard in the cryptocurrency market, where a digital token known as Tron has almost doubled in value over the past...pic.twitter.com/kytsXzyUlj
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Trend: down || Prices: 3600.87, 3599.77, 3602.46, 3583.97, 3470.45, 3448.12, 3486.18, 3457.79, 3487.95, 3521.06
|
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 2017-08-22]
BTC Price: 4100.52, BTC RSI: 64.89
Gold Price: 1285.10, Gold RSI: 61.31
Oil Price: 47.64, Oil RSI: 48.97
[Random Sample of News (last 60 days)]
Advanced Micro Devices, Inc. (AMD) Radeon Vega Frontier Edition Hits Shelves: InvestorPlace - Stock Market News, Stock Advice & Trading Tips Advanced Micro Devices, Inc. (NASDAQ: AMD ) announced that its new Radeon Vega Frontier Edition graphics card is now available for purchase. Advanced Micro Devices, Inc. (AMD) Radeon Vega Frontier Edition Hits Shelves Source: Asus The first of the new AMD graphics cards designed around the company’s Vega architecture, the Radeon Vega Frontier Edition is aimed at “the pioneers of the world.” Also hitting shelves is a previous-generation AMD card that’s been optimized to meet the needs of digital currency miners, the Mining RX 470. Radeon Vega Frontier Edition Goes on Sale AMD announced the Radeon Vega Frontier Edition back in May. The advanced new AMD graphics card goes head-to-head against rival Nvidia Corporation (NASDAQ: NVDA ) and its Titan Xp. Nvidia has been promoting that Titan Xp as being the world’s most powerful graphics card , with a whopping 12 teraflops of processing power. However, the Radeon Frontier Vega –which is the first new Radeon card to be released that’s based on AMD’s new Vega GPU architecture– can manage in the 13 teraflops range. That claim is giving AMD bragging rights over the Titan Xp. The 10 Best Stocks to Buy for the Rest of 2017 What wasn’t known for certain up until now was one key detail: pricing. Based on the Titan Xp and AMD’s past patterns, analysts had pegged the new Radeon flagship somewhere in $1,000 territory. AMD announced that the Radeon Vega Frontier Edition is available for purchase and retailers are stocking the card. As for price, there are two primary options. Go with traditional air cooling and the sticker is $999 — right where it was expected to be. However, if you choose the liquid-cooled version, be prepared to part with $1,499. AMD has been positioning the Radeon Vega Frontier Edition as a card for loftier purposes (digital pioneers, innovators and content creators), but The Verge points out that the company is offering dual-mode drivers for the new Radeon graphics card. Doing so lets it be flipped between professional applications and use for video game acceleration. So technically, it could also be used to power a killer video game rig. Story continues A very expensive gaming rig. AMD Mining RX 470 for Bitcoin Mining and Cryptocurrency Cryptocurrencies are currently worth an estimated $107 billion . And the way new currency is generated is through a process known as “mining.” This system is incredibly processor-intensive and is perfectly suited to graphics cards. When it comes to Bitcoin mining, graphics cards and their parallel processing are far more efficient and cost-effective than CPUs. Advanced Micro Devices has been the manufacturer of choice, with its GPU architecture boasting an advantage over Nvidia’s when it comes to this specific task. Bitcoin and other crytocurrencies like Ethereum have gone gangbusters this year, and AMD admits the demand for its graphics cards by miners is seriously boosting sales. It probably shouldn’t be a surprise that Advanced Micro has quietly released a version of its previous generation RX 470 graphics card that is optimized for Bitcoin mining. The Mining RX 470 has tweaks like dual ball bearing fans and dust resistance so it can run continuously, 24/7, for months as part of a Bitcoing mining rig. The new AMD graphics card is claimed to have twice the lifespan of a stock RX 470. At the moment, the Mining RX 470 is being offered exclusively by Asus . How to Trade Advanced Micro Devices, Inc. (AMD) Stock When It Naps Bottom Line AMD stock is up over 8% at this point in 2017, and that’s before it began to release its new Radeon video cards. With the flagship Radeon Vega Frontier Edition now hitting store shelves, and the redesigned Mining RX 470 there to take advantage of the cryptocurrency mining rush, the company is poised to do even better. At this point, it has bragging rights for the world’s most powerful graphics card for digital innovators, and what seems likely to quickly become the most popular card for Bitcoin mining. Those are two very different target demographics, but both are willing to spend money to get the best. As of this writing, Brad Moon did not hold a position in any of the aforementioned securities. More From InvestorPlace Apple Inc. (AAPL) Charges Further Into AR With SensoMotoric Microsoft Surface Review: Microsoft Corporation (MSFT) Gives Apple Inc. (AAPL) a Run for Its Money 3 Airline Stocks to Buy as They Reach for the Stars The post Advanced Micro Devices, Inc. (AMD) Radeon Vega Frontier Edition Hits Shelves appeared first on InvestorPlace . || Bitcoin plunges below Goldman Sachs' target before rebounding sharply: (A bitcoin sign in a window in Toronto.Reuters/Mark Blinch)
Bitcoinis making a comeback after taking a weekend plunge.
The cryptocurrencydropped 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 atGoldman 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 billionaireMark 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, saidbitcoin 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.
(Investing.com)
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• Ethereum is still crashing, and just fell below $200 || BTCS Signs Non-Binding Letter of Intent to Merge with Blockchain Global: SILVER SPRING, MD--(Marketwired - Aug 21, 2017) -BTCS Inc.(OTCQB:BTCS) ("BTCS" or the "Company"), a blockchain technology focused company, announced today that it signed a non-binding Letter of Intent ("LOI") to merge with Blockchain Global Limited ("BCG"), an Australian blockchain company, which will be subject to a number of conditions detailed at the end of this press release.
BCG operates four distinct business lines, an institutional exchange platform, transaction verification services (bitcoin mining), a blockchain start-up accelerator, and a blockchain technology consultancy. BCG generated AU$5.9 million (approximately US$4.4 million) revenue in FY16, a 300% increase over FY2015 revenue. BCG has approximately US$3.5 million in assets comprised of bitcoin and cash as of July 1, 2017, and is currently supporting its business through profit from operations. The reported revenues are audited in accordance with International Financial Reporting Standards and are financial measures not calculated in accordance with U.S. Generally Accepted Accounting Principles ("GAAP"). See the section below under "Non-GAAP Financial Measures".
BCG's ACX.io Exchange:BCG wholly owns and operates ACX.io, an Australian Bitcoin Exchange and liquidity provider. Leveraging BCG's asset security, exchange IP, and a proprietary liquidity engine, ACX provides a process to buy and sell bitcoin. Further, through ACX, BCG operates a proprietary arbitrage engine which captures a spread across multiple liquidity pools.
BCG Transaction Verification Services (bitcoin mining):BCG currently owns approximately 6 petahash ("PH") of mining capacity in a purpose-built outsourced facility in China. BCG's China operation has access to electricity at approximately US$0.04/kwh.
BCG's Start-up Accelerator:BCG complements its core business operations with a novel start-up accelerator program targeted at companies that are developing innovative blockchain technologies and applications. Through BCG's Melbourne Blockchain Center, a 6,000 square-foot leased facility launched in late 2014 and located in the heart of Melbourne, BCG has played a role in accelerating the development of a number of companies. BCG typically retains an equity stake in the companies it incubates and/or receives a licensing agreement or other economic incentive.
BCG's Technology Consultancy:BCG also provides blockchain technology advisory services including the preparation and support of crowd-sourced Blockchain token sales and Initial Coin Offerings.
"As early movers in a rapidly developing industry, we've assembled a talented team with the necessary expertise to excel," stated Sam Lee, CEO of BCG. "In addition to our work with innovative companies through the Melbourne Blockchain Center, we've also positioned ourselves to be a leading consultant in the space, servicing companies that recognize the importance of incorporating blockchain technology into their organizational strategies. By teaming up with BTCS, we're deepening our pool of talent."
"The blockchain space continues to suffer from a talent void," commented Charles Allen, CEO of BTCS. "Together with BCG, and their track record of success, we're positioning ourselves to fill this talent void, ultimately capitalizing on the immense opportunity in blockchain technologies and leveraging our early-mover advantage."
The LOI is subject to a number of conditions including the approval of BCG's shareholders and board and the approval of BTCS's board, and the settlement of all of BTCS' debt prior to closing. The LOI is also subject to the execution of a definitive agreement which the parties agreed to execute within 30 days following the Company receiving the audited financial statements of BCG, audited in accordance with GAAP by an auditor registered with the Public Company Accounting Oversight Board. Under the terms of the LOI, BCG shareholders shall receive a combination of common stock, convertible preferred stock and warrants equal to 75% of the fully-diluted equity securities of the Company post-closing (the "Fully Diluted Equity"). The warrants will be a series of warrants drafted to reflect the differing outstanding warrants of the Company as of the closing date and contain similar terms including exercise prices, terms, and anti-dilution protection.
The LOI also provides that the two current executive officers of the Company will receive 12% of the Fully Diluted Equity in the form of common stock, preferred stock or restricted stock units in a manner to be determined by the Company.
Another key condition of the LOI is that the existing holders of BTCS securities which have anti-dilution protection, redemption features and similar protections must be eliminated as determined solely by BCG. The LOI requires the Company to establish an Equity Incentive Plan to acquire 20% of the Fully Diluted Equity which will be administered by an independent compensation committee. The binding agreement will provide that the Company shall have five directors of which, two shall be appointed by the Company prior to closing and three appointed by BCG. Three of the directors shall be independent, with one appointed by the Company and two by BCG, and two may be non-independent, one appointed by the Company and one by BCG. The Company's Chief Executive Officer, Charles Allen, shall be deemed an acceptable non-independent director.
All insiders of the combined company would agree to a one-year lock-up on any equity issued in connection with the proposed transaction. There can be no assurance that the conditions to closing will be satisfied or the merger will be completed.
Non-GAAP Financial MeasuresThe financial results of BCG disclosed in this press release are not calculated in accordance with GAAP. The Company is unable to provide a reconciliation of the differences between the reported financial measure and GAAP without unreasonable efforts.
About BCG:Blockchain Global (formally Bitcoin Group) is a leading global pure-play Blockchain Technology company operating across four business segments, including transaction verification services, an institutional exchange platform, a blockchain start-up accelerator, and a blockchain technology consultancy.
About BTCS:BTCS is an early entrant in the Digital Asset market and one of the first U.S. publicly traded companies to be involved with Digital Assets and blockchain technologies. Subject to additional financing, BTCS plans to create a portfolio of digital assets including bitcoin and other "protocol tokens" to provide investors a diversified pure-play exposure to the bitcoin and blockchain industries. BTCS intends to acquire digital assets through: open market purchases, participating in initial digital asset offerings (often referred to as initial coin offerings). Additionally, BTCS may acquire digital assets by resuming our transaction verification services business (often referred to as mining) through outsourced data centers and earning rewards in digital assets by securing their respective blockchains. BTCS is also keenly focused on growth through acquisition. The blockchain is a decentralized public ledger and has the ability to fundamentally impact all industries on a global basis that rely on or utilize record keeping and require trust. For more information visit:www.btcs.com
Forward-Looking Statements:Certain statements in this press release, including those related to an anticipated merger and plans for the combined company, 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, failure of the companies to execute a definitive merger agreement and close the transaction, and integration issues with the combined company. 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. || A Coinbase investor says the platform might reverse its bitcoin cash ban in the next few days: (Barry Schuler, pictured in 2001, when he was still CEO and chairman of America Online.Manny Ceneta/Getty Images)
Coinbase has spent much of this weekin the weedsover its decision not to accept the newly minted digital currency bitcoin cash. But the company could reverse that decision in the next few days, an investor told Business Insider.
"I think the company will be in a position to make an announcement in the next few days, and one could be supporting bitcoin cash in due course,"said Barry Schuler, a partner with DFJ, an investor in Coinbase."Currently, they're evaluating the activity — how the blockchain matures, if there's the appropriate level of mining activity. It's very important that there's liquidity."
Liquidity — the ability to convert an asset into cash — is an important factor for Coinbase because of its overall strategy to only trade currencies which are established and stable.
A spokesperson for Coinbase said that the company would "have an update on thislater today," but it is unclear whether this will include a final decision or just more information on the company's decision-making process.
On Tuesday, however, Coinbase CEO Brian Armstrong wrote that the company was agnostic to which currencies its users trade and that it was not opposed to adding new assets in the future.
"Our goal is to be the safest, most trusted and compliant, and easiest to use," Armstrong wrote on Twitter. "Not the first to market with new assets. Especially at scale, it takes time to ensure any new asset we add is well tested and secure."
Users were forewarned that they would need to move their bitcoin off of Coinbase if they wanted to use bitcoin cash, and many did, leading to reported wait times of 12 hours for some traders over the weekend.
Bitcoin cash started out with zero value when it was first established on Tuesday, but has quickly shot up to a high of $691.94 on Wednesday. As with many new digital currencies, it's still rather unstable, and currently sits around $397.
Read more about Coinbase and its initial decision not to accept bitcoin cash.
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• Facebook bought an AI startup that could turn its middling virtual assistant into a Siri killer || Bitcoin Poised to End Week off Weekly Highs Despite Expectations of Indian Adoption: The price of Bitcoin is set to end the week below the week’s highest level as investors in the virtual currency remained reluctant to place their funds into it in the wake of a recent $900 crash. Rumors of a possible adoption of Bitcoin in India resulted in little to no effect on the price of the digital currency today, but is expected to have a wider effect in the weeks to come.
After almost touching $3,000, the Bitcoin price crashed to $2,120 last week. The digital currency then quickly recovered to $2,789 by Wednesday, but volatility remained high as the price moved in a range of almost $150 over the past two days. This volatility prompted experts to reiterate warnings of the bubble behavior that Bitcoin has been displaying in recent months, which is attributed to a frenzy of speculations that pushed the Bitcoin price more than 200% this year.
Among those wary of Bitcoin’s rapid gains is Peter Denious, one of the main venture capitalists inAberdeen Asset Management.In a recent interview, Denious said that Bitcoin is pushed higher by a gold rush mentality that took over the market, which is likely to lead to huge losses of investments.
His concerns along with others have worked against allowing Bitcoin to break the $2,800 level this week, despite easily storming past it last week. Reports that pointed to a possible legalization of the virtual currency in India failed to lead it higher as investors preferred to remain cautious.
India has seen a huge rise in demand for Bitcoin over the last year, but the country continues to offer no legal framework for digital currencies to operate within. However, lawmakers in India might be in talks of changing the government’s stance on Bitcoin to with the goal of regulating the currency. The Ministry of Finance formed a committee in April to examine the existing framework surrounding virtual currencies and provide suggestions for how to improve consumer protection and limit money laundering.
The committee’s findings and recommendations will be submitted to the ministry by the end of July. This has stoked anticipation of a possible adoption of Bitcoin in India, especially after the Indian government opened a public discussion of the issue on its official online forum.
A government official said that the probability of banning Bitcoin is low, however he also added that legalizing the virtual currency remains unlikely. Speculations on the committee’s recommendations are expected to influence the Bitcoin price in the coming weeks.
BTC/USD closed the week at 2,579 on theBitstamp exchangeafter moving within a range between 2,688.9 and 2,743.9. BTC/USD started the day at 2,708.3, while for the week the pair began trading at 2,633.9.
This post was originally published byEarnForex
Thisarticlewas originally posted on FX Empire
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• Market Snapshot – Markets Move Towards Tepid Close || Nvidia is set to dominate the '4th tectonic shift' in computing: Lulea data center 5 - Facebook data center (Facebook) Decades of work have paid off for Nvidia . The next computer revolution is here, and the company is set to dominate its competition, according to Jefferies. "IBM dominated in the 1950's with the mainframe computer, DEC in the mid 1960's with the transition to mini-computers, Microsoft and Intel as PCs ramped, and finally Apple and Google as cell phones became ubiquitous," Mark Lipacis wrote in a note to clients. "We believe the next tectonic shift is happening now and NVDA stands to benefit the way these aforementioned tech giants did in prior transitions." Nvidia has been working on its CUDA computing platform and its graphics processing unit (GPU) technology for years. Traditionally, a computer has worked in a linear way, processing one task at a time on the central processing unit (CPU). Shortly after GPUs were introduced in the 1990s, programmers began using them to break tasks into lots of smaller problems and solving them all at the same time on the GPU. This is called "parallel processing." For certain types of problems, like rendering lots of graphics elements in a video game, GPUs were far superior to the single-minded CPU. They were slower at single tasks, but could handle lots of problems at the same time. Nvidia developed a programming platform, called CUDA, to take advantage of the way their GPUs could handle these multi-faceted problems. CUDA made it easy to break traditional problems into multiple parts that ran much faster on a GPU than the traditional CPU. Fast forward to modern times where artificial intelligence and deep learning technologies are the hot trends. Companies like Google, Tesla and Amazon are using artificial intelligence to program self-driving cars , conquer ancient board games and develop smart personal assistants . Luckily for Nvidia, artificial intelligence and deep learning programs are perfectly suited to run on its GPUs and CUDA platform. Jefferies thinks these two technologies give Nvidia a huge advantage over the competition. Story continues "We see NVDA as a major beneficiary of the 4th Tectonic Shift in Computing, where serial processing (x86) architectures give way to massively parallel processing capabilities as the next wave of connected devices approach 10b units by 2022," Jefferies said. As tech giants build out new data centers to handle their ballooning artificial intelligence research, they often turn to Nvidia to supply the hundreds or thousands of GPUs they need. MIT recently said Nvidia has spent around $3 billion to develop its current data center chip, and it's a move that has paid off for the company. MIT named Nvidia as the smartest company in the world in 2017, in part, because of this investment. Nvidia has been making waves in the autonomous-car business as well. The company recently announced partnerships with Baidu, Volvo and Volkswagen to improve their self-driving car technologies and its technology is already being used in vehicles made by Tesla, Audi and Toyota. Cryptocurrency mining is another example of a process that runs better on GPUs. Nvidia has been raking in profits in that area too, and one Wall Street bank thinks it will be just another sector that Nvidia will come to dominate . Investors have been rewarding Nvidia as it takes the computer world by storm. Shares of Nvidia are up 48.55% this year. While it might take some time before Nvidia's $87.04 billion market cap comes close to the companies that dominated the last computing revolution (Alphabet at $598.61 billion and Apple at $751.88 billion), Jefferies has faith in the company. The investment bank raised its price target to $180, up about 19% from Nvidia's current price. Click here to follow Nvidia's share price in real time. Nvidia stock price (Markets Insider) NOW WATCH: An economist explains what could happen if Trump pulls the US out of NAFTA More From Business Insider This upgrade will extend the life of your MacBook Air for years Most people blow 70% of their money on 3 things and cutting back could be the key to retiring much earlier Bitcoin and Ethereum are 'cannibalizing' gold || The potential costs and benefits of unifying North and South Korea: Tensions have escalated between North Korea and the U.S. as Kim Jong Un and President Donald Trump continue to spar following new sanctions imposed by the U.N. However, world financial markets have so far beenonly mildly affected by the newsgiven the historical default to diplomacy.
But what if war does break out? A military conflict would clearly mean significant problems in the near-term, especially when you consider that nuclear weapons could be involved.
The story regarding the long term is much less certain. According to recent analysis from Capital Economics, it is possible that the fall of North Korean supreme leader Kim Jong Un could be a net positive for what may become a unified Korean economy, depending entirely on how grave the means are to accomplish this end. Their estimate for the cost of unifying the two Koreas: $1 trillion.
The best-case scenario,as Yahoo Finance has written before, is something akin to the reunification of Germany in 1990. South Korea would likely benefit economically in the long run,according to a report from Capital Economics. Like Japan and many European countries, South Korea has a population that is fairly old withthe median age 41.2. North Korea, however, is a much younger country with the median age of 33. In a peaceful transition, this would breathe youth back into the workforce and improve the South’s demographic outlook.
Youth isn’t the North’s only natural resource — it’s home to the Korean peninsula’s greatest wealth of untouched raw materials. For South Korea, access would push down the need to import and provide it with cheaper building blocks for its strong manufacturing industry.
Besides the utilization of North Korea’s potential, a unified Korea could benefit significantly from lower military expenses, which cost both countries dearly. That money would be freed up for other projects.
Everything depends on how bad a military conflict would be. Analysts expect it to beshort but extremely brutal. The South’s largest city, Seoul, is just 35 miles from the border, and massive losses of life and infrastructure have the potential to cripple both countries to a degree never seen before. The effects would reverberate across the world, and damage to South Korea’s role in global supply chains and hits to financial markets would be the least of anybody’s concerns.
Given all this uncertainty, the Capital Economics analysis affixed a big asterisk next to the cost of reconstruction. Nevertheless, they offer a rough estimate of $1 trillion, which is three times the cost of the German reunification and is the same as one year of the South’s GDP. It is not cheap to rebuild a destroyed economy, and many things can never be rebuilt.
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].
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How TripAdvisor hunted a robocaller that made 100 million calls to random people || Bitcoin is tumbling: It's a rough start to the week forbitcoin. The cryptocurrency trades down 10.11% on Monday, at $2,275 a coin, a one-week low.
The action seems to be a continuation of the selling that developed on Wednesday, when rivalEthereum flash-crashedfrom $296 to 10 cents before recovering its losses.
Bitcoin is down about 16.6% since Wednesday's opening print.
The recent weakness in bitcoin follows a run-up of more than 200% to start the year. Bitcoin's 2017 gains have been propelled byheavy buying from China and Japan.
Recent strength has come on the heels of China's three biggest exchangesresuming withdrawalsfor the first time since February, and Japan naming bitcoina legal payment methodin early April. Additionally, Russia's largest online retailerbegan accepting bitcoin, even though Russia has said it wouldn't consider the use of the cryptocurrency until 2018.
But the gains have created some skepticism as of late. The billionaire Mark Cubancalled bitcoin a "bubble"as the cryptocurrency hit its then-all-time high on June 6.
"I think it's in a bubble. I just don't know when or how much it corrects,"Cuban tweeted. "When everyone is bragging about how easy they are making $=bubble."
About a week later, Goldman Sachs' head of technical strategy, Sheba Jafari, said bitcoin waslooking "heavy"and could drop as low as $1,915 before seeing a rally. It put in a low of $2,076 before rallying to almost $2,800.
There remains one big unknown. In March, the US Securities and Exchange Commissionrejected two bitcoin exchange-traded funds. It has since taken public comment on its decision about an ETF proposed by the Winklevoss twins, but it has not made an additional ruling.
Bitcoin is up 136% in 2017.
(Investing.com)
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• John McAfee's latest gambit is mining Ethereum — the cryptocurrency that's up nearly 4,000% this year || Should You Buy These Semiconductor ETFs & Stocks Now: Semiconductor ETFs had a great 2016, having returned in the range of 35-46%. Areas like autonomous cars, 3D printers, fitness devices and IoT fueled growth in the sector, offsetting otherwise-saturating businesses like PCs and smartphones. Though things moderated for the space in early 2017, semiconductor ETFs gathered steam from mid-May. In the last six months (as of August 18, 2017), semiconductor ETFs kept pace with the soaring broader technology sector (read: Will Semiconductor ETFs Repeat This Year's Success in 2017?). Let’s find out which factors may drive the semiconductor rally ahead. Usage of Semiconductor in Cryptocurrencies Bitcoin is on a tear this year. The digital currency has now more than quadrupled in value from around $997 at the start of the year. Bitcoins are ‘mined’ by using a greater amount of computer processing power. Creation and transactions in bitcoin are controlled through cryptography to keep transactions secure (read: Bitcoin Skyrockets, Race to First Cryptocurrency ETF Heats Up). Like bitcoin, Ether or etherum is also quite popular this year. Now, mining of cryptocurrencies needs the usage of semiconductors. A hardware known as an ASIC (Application-Specific Integrated Circuit) is designed explicitly for mining bitcoin (read: Ethereum ETF? The Bitcoin Crushing Digital Currency Explained). This where semiconductor companies can gain traction. As per Bloomberg, there was a 10-fold rise from April to June in the Ethereum market which helped shares of Nvidia Corp. (NVDA) and Advanced Micro Devices Inc. (AMD) substantially. Barclays recently added that Nvidia is better placed than its competitors to cash in on the cryptocurrency rally. Rise of 4G LTE Though shipment of smartphones has cooled down lately, the continued shift toward 4G LTE in high-end smartphones has given a boost to wafer demand for advanced process technologies, as per research agency Gartner. Plus, the rapid deployment of fingerprint sensors and active-matrix dynamic light-emitting diodes (AMOLEDs) by Chinese smartphones should also give the space a boost, as per several research agencies including Gartner. Recently, the agency indicated that consumer applications will likely make up for about 63% of the overall IoT applications in 2017. Story continues Value-Centric Area In any case, semiconductor is the value-centric traditional tech area that is likely to have an upper hand in an edgy investing environment. Moreover, the semiconductor space is consolidating rapidly with a number of deals announced lately. Market Trends Favorable Investors should note that there was a gathering ofshort sellers in the semiconductor sector only to acknowledge defeat. As per an article published on Investopedia, out of the 10 biggest semiconductor shorts in the U.S. market only two, Xilinx Inc. (XLNX) and Qualcomm Inc. (QCOM), were in favor of short sellers. The rest eight punished them with over $3.5 billion. ETF Picks Against this backdrop, investors can take a look at ETFs like VanEck Vectors Semiconductor ETF SMH , PowerShares Dynamic Semiconductors Portfolio ETF PSI and iShares PHLX Semiconductor ETF SOXX . Stock Picks We also highlight a few semiconductor stocks with a Zacks Rank #1 (Strong Buy) and a value score of A. These are: Micron Technology Inc. MU This is one of the leading worldwide providers of semiconductor memory solutions. It belongs to the Zacks Industry Rank of top 1% and Sector Rank of top 44%. IEC Electronics Corp. IEC It is a full-service contract manufacturer employing state-of-the-art production utilizing both surface mount and pin-through-hole technology. The Zacks Industry Rank is in the top 13%. Stoneridge Inc. SRI It is a designer and manufacturer of highly engineered electrical and electronic components, modules and systems for the automotive, medium and heavy-duty truck, and agricultural vehicle markets. The Zacks Industry Rank is in the top 13%. 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 report Stoneridge, Inc. (SRI) : Free Stock Analysis Report IEC Electronics Corp. (IEC) : Free Stock Analysis Report ISHARS-PHLX SEM (SOXX): ETF Research Reports PWRSH-DYN SEMI (PSI): ETF Research Reports VANECK-SEMICON (SMH): ETF Research Reports Micron Technology, Inc. (MU) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report || Bitcoin bubble dwarfs tulip mania from 400 years ago, Elliott Wave analyst says: Just as many on Wall Street are warming up to bitcoin, one of the lone financial analysts who forecast a surge when the digital currency was just six cents now has an extremely negative view. "A bearish trifecta the Elliott wave pattern, optimistic psychology and even fundamentals in the form of blockchain bottlenecks will lead to the collapse of today's crypto-mania," analyst Elliott Prechter wrote in the July 13 edition of The Elliott Wave Theorist newsletter. "The price activity and manic sentiment that led to present prices have dwarfed even the Tulip mania of nearly 400 years ago," he said. "The success of Bitcoin has spawned 800-plus clones (alt-coins) and counting, most of which are high-tech, pump-and-dump schemes." "Nevertheless, investors have eagerly bid them up," Prechter added. He's the son of the famed technical analyst Robert Prechter, who popularized the Elliott Wave by using it to forecast the stock market crash of 1987 and has published a newsletter since 1979. However, debate over the accuracy of the Elliott Wave has grown after Robert Prechter called the end of the 1990s bull market five years before it actually ended. The principle is a sophisticated form of technical analysis widely followed by traders that analyzes cycles of sentiment in an attempt to predict market performance five waves typically signals a coming downturn. Regarding bitcoin, "under the Elliott Wave model, what we're seeing, we're making a final fifth wave from six cents," the younger Prechter told CNBC in a phone interview Thursday. "It does not imply it will go to zero. It does not imply it will go to six cents. I do think it will happen to the clones [newly formed digital currencies]." The Elliott Wave for bitcoin Source: The Elliott Wave Theorist In September 2010, Elliott Prechter wrote in The Elliott Wave Theorist about bitcoin when it traded at 6 cents. Very few in the financial world seriously considered the digital currency at the time. Story continues "It proved to be the buying opportunity not just of a lifetime, but so far of all time," Prechter said. Bitcoin (Exchange: BTC=-USS) hit a record of $3,025 in June, 50,000 times its price in 2010. The digital currency traded near $2,652 Thursday, more than twice where it started the year. Bitcoin (July 2010 - July 2017) Source: CoinDesk As a result of the meteoric price surge, Wall Street has started paying closer attention to bitcoin in the last several weeks. For example: Standpoint Research's Ronnie Moas said in early July that bitcoin could possibly reach $5,000 "in a few months." Fundstrat's Tom Lee issued a report around the same time on why bitcoin could soar to $20,000 or $55,000. Forbes reported Tuesday that legendary investor Bill Miller bought bitcoin in 2014 and that it's one of the top holdings in his $120 million hedge fund. Also on Tuesday, Josh Brown, CEO of Ritholtz Wealth Management and a CNBC contributor, said in a blog post he used Coinbase to buy bitcoin with a "small amount of money." Goldman Sachs and Morgan Stanley have also discussed bitcoin and the blockchain technology behind it in recent reports. To Prechter, the forecasts for bitcoin to rise dramatically resemble calls in 1999, just before the burst of the dotcom bubble, for the Dow Jones industrial average to reach 100,000. He said the excitement surpasses the tulip bulb mania in The Netherlands in the early 1600s. As Investopedia tells it, tulip bulbs became such a prized commodity that by 1636 they were being traded on many Dutch stock exchanges and "many people traded or sold possessions to participate in the tulip market mania." "Like any bubble, it all came to an end in 1637, when prices dropped and panic selling began," according to the article. "Bulbs were soon trading at a fraction of what they once had, leaving many people in financial ruin." "Technology has advanced greatly, but human psychology is still the same" Source: The Elliott Wave Theorist Some analysts have also compared the excitement around bitcoin and other digital currencies to the Beanie Babies craze in the 1990s. Prechter also pointed to the challenges bitcoin and its rival ethereum (Exchange: ETH=) are facing in order to expand their reach. Bitcoin faces an Aug. 1 deadline for developers to agree on a system to upgrade the network and prevent the currency from splitting. Meanwhile, transaction fees ran up to $5 in June and are still near $2. In June, some sales of new digital currencies clogged the ethereum network, creating a backlog of orders. Separately, ethereum prices briefly plunged from above $300 to 10 cents on one exchange before recovering. To be sure, Prechter told CNBC that a mania "can be both a mania and a revolution at the same time." Like many digital currency enthusiasts, he sees significant potential in the cryptocurrencies for automating the banking and legal industries. "The distant future of crypto is bright," Prechter said in the report. "Crypto tech is like the internet in 1999: It was poised to take over the world, but the NASDAQ still fell almost 90% during the dot-com bust of 2000-2002." But bitcoin may not be part of that future. "It's too soon to know if Bitcoin is Facebook or MySpace," Prechter said. More From CNBC Don't buy the Twitter comeback, stock to drop 50%, Morgan Stanley says Home security firm ADT reportedly could IPO for $15 billion Check Point Software shares dive after CEO blames Yom Kippur for weak forecast
[Random Sample of Social Media Buzz (last 60 days)]
Bitcoin - BTC
Price: $1,960.39
Change in 1h: +0.46%
Market cap: $32,250,816,978.00
Ranking: 1
#Bitcoin #BTC || Bitcoin matawang digital x sia2 jika kita mula menyimpannya mulai sekarang...buka wallet bitcoin dulu kemudian... http://fb.me/weHeZz43 || #Monacoin 81.9円→[Zaif] -円→[もなとれ]
#NEM #XEM 17.949円↑[Zaif]
#Bitcoin 283,085円↑[Zaif]
07/03 21:00
口座開設はこちらで！ https://goo.gl/31dyoO || #webscraping Bitcoin just passed $4,000 http://tw.eet.link/Pdj8qs #data #businesspic.twitter.com/97KfqWfl2h || $2572.77 at 06:15 UTC [24h Range: $2522.00 - $2614.00 Volume: 7903 BTC] || #Bridgewater’s @RayDalio bulls #gold. What about #Bitcoin? See The FR https://buff.ly/2vZ2TcK || Get 200 crypto beans worth $2.00 to spend with The Bitcoin Store, Crypto Apparel, Hardware, Art http://rewards.allthingsdecentral.com/r/sudirman.chan/?c=twitter … || Guys, I think I've become a bitcoin perma-bull.
I embrace the possibility that a blockchain technology could underpin international finance. || http://crwd.fr/2vjUMoa
Bonus #Bitcoin
Completely Free #bitcoin #faucet
paying out up to
5,000 #satoshi
every 15 minutes || bitcoin faucets? This is what I'm talking about? https://is.gd/GrkUaR What's the catch?
|
Trend: up || Prices: 4151.52, 4334.68, 4371.60, 4352.40, 4382.88, 4382.66, 4579.02, 4565.30, 4703.39, 4892.01
|
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]
Not fully available.
[Random Sample of News (last 60 days)]
Bitcoin exchange Coinbase to add ether currency to trading platform: NEW YORK, May 19 (Reuters) - Bitcoin exchange Coinbase said late Thursday it will add digital currency ether on its trading platform next Tuesday.
With the launch of ether trading next week, Coinbase is also changing the name of its platform to GDAX (Global Digital Asset Exchange), said Adam White, vice president of business development and head of GDAX.
Coinbase, widely believed to be the largest bitcoin-focused company in terms of investment, will offer ether/dollar and ether/bitcoin currency pairs.
Ether is the digital currency for the Ethereum platform, a blockchain, or public ledger that can create decentralized applications. Ethereum uses ether to execute peer-to-peer contracts automatically without the need for intermediaries.
(Reporting by Gertrude Chavez-Dreyfuss; Editing by Bernard Orr) || 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.
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) || STOCKS CLIMB: Here's what you need to know: ice climbing (Jim Young/Reuters) Stocks finished higher on the first day of May with the Dow gaining triple-digits. Many investors will be familiar with the cliche of "sell in May and go away," though as Akin Oyedele noted over the weekend , this is kind of silly. First, the scoreboard: Dow: 17,891.2, +117.5, (+0.7%) S&P 500: 2,081.4, +16.1, (+0.8%) Nasdaq: 4,817.6, +42.2, (+0.9%) WTI crude oil: $44.90, -2.2% US Economy It's a busy week for the US economy and things got kicked off with a couple reports out of the manufacturing sector which showed things got better in April. The Institute for Supply Management's latest PMI came in at 50.8, indicating expansion in the US manufacturing sector but at a slower pace than in March. This report's prices paid sub-index, however, was a complete blowout, rising to 59.0 in response to higher commodities prices. Commentary in this report indicated that the auto industry is still going strong while things are still "sluggish overall" but showing some signs of picking up. Markit Economics' final PMI reading for April hit 50.8, in-line with the report's preliminary reading earlier this month, though Markit's Chris Williamson was a bit more downbeat on how things look in the US manufacturing sector. "The April PMI data suggest there's no end in sight to the current downturn in manufacturing activity," Williamson said in a release. Elsewhere in the economy, Bob Bryan noted that the calls from big names on Wall Street for fiscal stimulus out of Washington are getting louder. However, the current state of the US government doesn't at all suggest we're getting closer to the kinds of big investment folks like Carl Icahn and Larry Fink have hinted at in recent months. The federal budget has, however, stopped being a drag on GDP and the market has noticed: stocks that benefit from a government tailwind have outperformed over the last several months. Global Economy Mohamed El-Erian had bad news for investors on Monday. Speaking at the Milken Conference in Los Angeles, El-Erian said, "The growth model for the advanced world is getting exhausted, and for emerging markets it's getting contaminated." Story continues El-Erian, we'd note, is the recent author of "The Only Game In Town," which says that central bank policies are only going to go so far to fix the global economy. Not unlike the aforementioned Wall Street bigwigs calling for more government spending to boost the economy, El-Erian's argument is a bit less prescriptive but does make clear our current path is not going to be one that leads to prosperity. Bummer! Linette Lopez, who was in the room for El-Erian's presentation on Monday, noted that after he told attendees that the road we're going down with the global economy ends it will "stop right there," nervous laughter followed. Debt It was a mixed day for municipal finance. Atlantic City made a $1.8 million bond payment to avoid default. Puerto Rico, in contrast, said Sunday it would not make a $422 million bond payment due Monday, thus defaulting on debt owed by its Government Development Bank. And look, I am by no means an expert on the municipal bond market. Hardly even a tourist! For more on the state of municipal finance in the US you should read Kristi Culpepper on Medium or Joe Mysak at Bloomberg . Speaking of defaults, the high-yield default rate for the energy sector has been pushed up to 13%, topping the 9.7% high seen back in 1999, according to Fitch Ratings . The bankruptcy filing from Ultra Petroleum and Midstate Petroleum over the weekend added $3.1 billion to high-yield energy default volume this year. Fitch expects the default rate in the high-yield energy space will hit 20% this year. Passive Investing So, here's an argument that passive investing makes markets more efficient and doesn't really — at all — risk markets becoming a "socialist" construct in which we all just get a set return and no one can outperform. I'm expecting people won't love this one, mostly because people seem to really like the idea that low-cost, passively-managed index funds pose a clear and present danger to financial markets. But the post, constructed from work done by the great finance blogger "Jesse Livermore" over the weekend , not only argues that there's nothing to worry about with the rise of passive investing, rise but that this increase makes markets more efficient. Much of the conversation in and around the investing world assumes that if you know some stuff you can find a stock or an investment that will, over time, beat the market. But the average return of active managers, Livermore illustrates, must — for a specific index of securities — equal the market average return. Include fees and your chances of beating the market are very, very slim. The big event this weekend was the Berkshire Hathaway annual meeting . And while Warren Buffett is perhaps the most famous stock-picker in America, he spent nearly 15 minutes going on about how the only thing an individual investor should be doing with their money is putting it in a low-cost S&P 500 fund. The fees, in Buffett's view, will almost certainly make performance in actively-managed investments worse, but the bigger problem is in finding a manager than can outperform. Again and again. If the argument holds up that more passive money creates more efficient markets because only the best managers are left running money, this would make Buffett's argument even stronger. Of course, as Buffett noted, no one selling investment advice wants to sell advice that says, "Just do this one, easy, cheap thing," because, well, that doesn't pay. Additionally A new ECB paper says that it looks like someone is leaking US economic data . Warren Buffett's non-answer about Coke on Saturday is exactly what the Berkshire Hathaway annual meeting is all about . Morgan Stanley questioned the dominance of Bloomberg and its clients were nonplussed . There was some Bitcoin news out Monday and Izzy Kaminska is pretty sure that this is, well, like most Bitcoin news: dodgy . More From Business Insider STOCKS TUMBLE INTO THE CLOSE: Here's what you need to know FED DOES NOTHING, STOCKS DO NOTHING: Here's what you need to know STOCKS GO NOWHERE: Here's what you need to know || 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 (IBM.N). "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 (GS.N), 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 (BTC=BTSP) is equivalent to $444.75 late on Monday and trade on various exchanges around the world. Story continues 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. || Larry Summers joins bitcoin firm as a senior advisor: Digital Currency Group is busy these days. In the last four months alone, the companyacquired the biggest bitcoin news site, CoinDesk, and along with it, the biggest bitcoin conference, Consensus; it alsogave money to Coin Center, the bitcoin industry's nonprofit advocacy group.
On Thursday,DCG announced a laundry list of new investors and additions to its team, and among them is one very big name: Larry Summers.
Summers, former Treasury secretary and former president of Harvard University, is joining DCG as a senior advisor. It is a reminder that Summers believes in the future of bitcoin, thecrypto-currency that many fare still skeptical about. One year ago, speaking at the Museum of American Finance,Summers was asked about bitcoinand said, "We have seen so little innovation cumulatively directed at taking the frictional costs out of the system. The notion that there’s going to be a lot of innovation and experimentation around how those frictional costs can be taken out feels like a very important kind of idea.”
Digital Currency Group is an investment firm that has poured money into 72 different companies, more than two-thirds of which operate in the bitcoin space. A small portion of DCG's portfolio are companies exploring blockchain technology without bitcoin, so DCG calls itself a digital currency firm, not solely a bitcoin firm. (What is the blockchain? Watch our helpful primer video.) But it is associated primarily with bitcoin. DCG's portfolio boasts almost all of the hottest bitcoin startups, and those startups have accounted for more than 70% of all the venture capital put into bitcoin companies in total.
The CEO of DCG is Barry Silbert, who in 2004 createdSecondMarket,which allowed for the trading of private-company stock, and in 2015 sold it to Nasdaq (NDAQ).In DCG's release about its news, Summers says, "Barry and his team at DCG are building an important platform with great potential to help these technologies reach mass adoption.”
In the past, I have called DCG the Anheuser-Busch InBev (BUD) of the bitcoin world, but you could just as easily compare it to Barry Diller's acquisitiveInterActiveCorp (IAC), and indeed, Silbert says that DCG models itself after IAC and Berkshire Hathaway. (CoinDesk was DCG's first full acquisition, but expect more to come.) The addition of Summers, along with its new investors, supports the comparisons.
In addition to bringing on Summers and respected bitcoin developer Gavin Andresen as advisors, DCG has raised a new funding round (it will not disclose the amount) from Western Union (WU), Prudential(PRU) through its investment subsidiary Gibraltar, FoxConn through its investment subsidiary HCM International, and others.
But it is the involvement of Summers that may turn some heads on Wall Street. Silbert knows the value of the name. "I've gotten to know Dr. Summers over the past few years," Silbert tells Yahoo Finance, "and it has been fantastic to see his thinking about digital currency and blockchain evolve and mature."
What Silbert and DCG and the rest of the bitcoin industry are hoping is that the general attitude toward bitcoin will continue to mature.
--
Daniel Roberts is a writer at Yahoo Finance, covering sports business and technology.
Read more:
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
Here's a sign that PayPal is embracing Bitcoin || Bitcoin exchange Coinbase to add ether currency to trading platform: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Bitcoin exchange Coinbase said on Thursday it will add digital currency ether on its trading platform next Tuesday. The addition of ether comes given the surge in interest in the digital asset among major financial institutions such as Barclays [BARCR.UL] and UBS [UBSAG.UL] as well as other enterprises worldwide like IBM, which are trying to explore the Ethereum network. Ether is the digital currency for the Ethereum platform, a blockchain, or public ledger that can create decentralized applications. Ethereum, which uses ether to execute peer-to-peer contracts automatically without the need for intermediaries, was co-founded and invented by 22-year old Russian Canadian programer Vitalik Buterin. "We're very excited about Ethereum. There has been a ton of progress made in the last six to nine months," said Adam White, vice president of business development at Coinbase in an interview with Reuters. "We have seen hundreds of emerging decentralized apps (applications) launched on Ethereum." He added that bitcoin cannot mirror Ethereum's "scripting language," so both bitcoin and ether can co-exist and will not necessarily compete with each other. Coinbase also plans to change the name of its platform to GDAX (Global Digital Asset Exchange), said White. The name Coinbase, however, will be retained for its retail service such as exchanging dollars for bitcoin or ether, he added. Coinbase, widely believed to be the largest bitcoin-focused company in terms of investment, will offer ether/dollar and ether/bitcoin currency pairs on GDAX. The name change was made because the company will add more digital assets for trading on its exchange, White said. According to coinmarketcap.com, ether is trading at $14.28 late on Thursday, with a market capitalization of about $1.1 billion, the second largest behind bitcoin. Bitcoin currently has a market cap of $6.9 billion. Daily volume for ether is around $48 million, while average daily volume for bitcoin is $87.2 million. At the beginning of the year, ether traded at just $1 per token and it is the fastest-rising digital currency. White said ether will be available on GDAX in most states except New York because Coinbase is still in the process of applying for a license in the state. Coinbase's move to add ether trading to its currency exchange platform came after New York approved the application of Gemini Trust Company, founded by investors Tyler and Cameron Winklevoss, to trade ether on its exchange. "What's powerful about ethereum is that I can write self-executing contracts and I can run them on Ethereum and it's not on any central server or computer," said White. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Bernard Orr) View comments || What Awaits Overstock.com (OSTK) this Earnings Season?: Overstock.com Inc. OSTK is expected to report first quarter 2016 results on Apr 25. 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. Factors at Play Overstock has been engaged in legal battles with several brokerage firms over issues of stock price manipulation, most recently with Goldman Sachs and Merrill Lynch. Merrill Lynch eventually settled by paying $20 million to Overstock.com and its co-plaintiffs. The Goldman Sachs case was dismissed by the court. Overstocks’ continuous efforts to reduce illegal stock manipulation and reform capital markets is likely to boost its share price and results in the to-be-reported quarter. Overstock has been a Bitcoin supporter for two years and has successfully leveraged the 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. The t0.com blockchain technology allows investors and buyers to track their purchases and ownership of crypto securities, ensuring complete transparency. Moreover, it facilitates same-day settlement of securities. However, the company has not yet achieved the expected level of synergy between blockchain and cryptocurrency and may separate them in the near future. Stocks to Consider 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: Equifax Inc. EFX with an Earnings ESP of +1.74% and a Zacks Rank #2 (Buy). Story continues SkyWest Inc. SKYW has an Earnings ESP of +16.00% and a Zacks Rank #2. Fidelity National Information Services, Inc.FIS with an Earnings ESP of +2.70% and a Zacks Rank #3 (Hold). 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 EQUIFAX INC (EFX): Free Stock Analysis Report FIDELITY NAT IN (FIS): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research || NY regulator approves Winklevoss bid to trade digital currency ether: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - New York state has approved the application of Gemini Trust Company, founded by investors Tyler and Cameron Winklevoss, to trade digital currency ether on its bitcoin exchange, Governor Andrew Cuomo announced on Thursday. Ether, an alternative currency that differs from bitcoin, is a token or digital asset of the Ethereum platform, a blockchain, or public ledger of all ether transactions. The platform uses ether to execute peer-to-peer contracts automatically without the need for intermediaries. The currency is often used by software developers. "With robust regulatory oversight, we are maintaining our status at the forefront of this technological revolution and ensuring that users have a safe and secure experience," Cuomo said in a statement. The approval by the New York State Department of Financial Services marks the state's first consent for a digital currency-related service beyond bitcoin. Trading on ether will begin on Monday, May 9, said Cameron Winklevoss, Gemini's co-founder and president, in an interview with Reuters. Customers will be able to store their ether from Thursday until it starts trading on the exchange on Monday. Winklevoss also said the brothers' investment firm Winklevoss Capital is a "significant" holder of ether. "We started buying ether at the beginning of the year," Winklevoss said. "Ethereum Foundation has a set number of ether that they have set aside over a period of time..(and) the proceeds from that go to the funding of the foundation and the developers to further the protocol." The Winklevoss twins chose ether to trade on their exchange because of its "unique capabilities" that are different from bitcoin. "There is a place for ether on our platform. It does what bitcoin doesn't do," Winklevoss said. "So that is the sort of criteria: that it is different enough from bitcoin and the proposition is great enough that this makes sense for us to include it in our platform." Story continues According to coinmarketcap.com, ether is trading at $9.97 on late Thursday, with a market capitalization of about $795 million, the second largest behind bitcoin. Bitcoin currently has a market cap of $6.9 billion. Daily volume for ether is around $20 million. Ether trades on other exchanges as well, but Winklevoss said those exchanges are unregulated or unlicensed. "It's pretty clear that in the U.S. if you're an exchange, you are required at the minimum a money transmission license in each state," Winklevoss said. "Anybody who's operating an ether exchange doesn't have a license and is on borrowed time." Demand for ether has steadily increased since its launch last year. "Most of the people who work on ether right now are (software) developers developing applications for smart contracts on Ethereum and you need ether to do that," Winklevoss said. Aside from developers, British pop artist Imogen Heap has put her music on the Ethereum platform. "She (Heap) created smart contracts on Ethereum whereby if you send enough ether to the address on the contracts, you can download her songs," Winklevoss said. (Reporting by Gertrude Chavez-Dreyfuss; Editing by David Gregorio and Andrew Hay) || Newspaper giants threaten Brave over its ad-swapping browser: You remember how Brave's web browserpays you to see replacement ads(overriding a site's usual ads) when you don't pay to block promos outright? Yeah, publishers aren't very happy about that. A coalition of 17 news giants, including theNew York Timesand Dow Jones,has sentBrave a letter claiming that its ad-swapping business model is illegal. Allegedly, the approach is tantamount to copyright infringement. It's "indistinguishable" from stealing articles and posting them on another site, according to the publishers. The group also doesn't buy the argument thatBitcoin paymentsand revenue sharing will make up for the lack of native ads -- those methods "cannot begin to compensate" for the lost income.
Not surprisingly, Brave isn't having any of it. CEOBrendan Eichsays the browser isn't replacing publishers' own ads, including any first-party ads that aren't using third-party tracking. It's trying to create a better ad network that actually pays more than third-party options, he argues. Eich goes so far as to suggest that the publishers are being disingenuous (especially when sidestepping their own ad privacy concerns), and are really attacking any browser with an ad blocker add-on orad-free reading mode.
Brave says it's open to talking with the media group to argue its case, although it's hard to see those companies being very receptive when they not-so-subtly hint at possible legal action. Not that Brave is slowing down in the meantime. It justreleaseda developer version of its browser with support for Chrome extensions,1Passwordlogins and blocks against everything from phishing scams to privacy-violating browser fingerprinting measures. In short, it's determined to fight privacy intrusions of all kinds, whether or not the perpetrators are in a position to object. || Your first trade for Thursday, May 26: The " Fast Money " traders shared which moves they'd make at the U.S. market open. Tim Seymour was a buyer of Schlumberger (NYSE: SLB) . Steve Grasso was a buyer of the VanEck Vectors Gold Miners ETF (NYSE Arca: GDX) . Brian Kelly was a buyer of the iShares Silver Trust. (NYSE Arca: SLV) Guy Adami was a buyer of Starbucks (NASDAQ: SBUX) . Trader disclosure: On May 25, 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. Steve Grasso is long BA, CC, DD, DIS, EVGN, KBH, MJNA, MU, OLN, PFE, PHM, T, TWTR, GDX firm long AAPL, CVX, OXY, RIG Steve's kids own EFA, EFG, EWJ, IJR, SPY. Brian Kelly is long Bitcoin, US Dollar; he is short Australian Dollar, Euro, EWA, EWH, FRC, Hong Kong Dollar, IWM, Yuan Short: SPY and S&P 500 Futures. Tim Seymour is long AAPL, AVP, BAC, BBRY, CLF, DO, EDC, EWZ, F, FCX, FXI, GM, GOOGL, GRMN, GE, GLNCY, INTC, LQD, M, MCD, MPEL, NKE, RACE, RAI, RH, RL, SINA, T, TWTR, UA, VALE, VZ, XOM. Tim's firm is long ABX, BABA, BIDU, CLF, EWZ, F, HD, KO, MCD, MPEL, NKE, PEP, PF, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, YHOO, short HYG, IWM, WYNN, XRT More From CNBC Top News and Analysis Latest News Video Personal Finance
[Random Sample of Social Media Buzz (last 60 days)]
My robot has 475 hp left! I've earned a total of 517,970 free satoshis from http://www.robotcoingame.com/?id=6245773 #robotcoingame #Bitcoin || LIVE: Profit = $725.35 (9.02 %). BUY B19.49 @ $420.00 (#VirCurex). SELL @ $451.46 (#Kraken) #bitcoin #btc - http://www.projectcoin.org || LIVE: Profit = $861.28 (10.76 %). BUY B19.39 @ $420.00 (#VirCurex). SELL @ $458.01 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || $429.69 #coinbase;
$428.98 #bitfinex;
$427.18 #bitstamp;
$424.00 #btce;
#bitcoin #btc || LIVE: Profit = $983.34 (12.22 %). BUY B19.49 @ $460.00 (#VirCurex). SELL @ $463.91 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || Current price: 293.85£ $BTCGBP $btc #bitcoin 2016-04-04 22:00:07 BST || 1 KOBO = 0.00000692 BTC
= 0.0031 USD
= 0.6170 NGN
= 0.0466 ZAR
= 0.3111 KES
#Kobocoin 2016-05-06 10:00 pic.twitter.com/xupkuzuMG0 || Current price of Bitcoin is $429.00. || LIVE: Profit = $267.27 (3.31 %). BUY B19.53 @ $420.00 (#VirCurex). SELL @ $427.01 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || LIVE: Profit = $614.60 (7.64 %). BUY B19.49 @ $420.00 (#VirCurex). SELL @ $445.77 (#Kraken) #bitcoin #btc - http://www.projectcoin.org
|
Trend: up || Prices: 526.23, 533.86, 531.39, 536.92, 537.97, 569.19, 572.73, 574.98, 585.54, 576.60
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2020-06-03]
BTC Price: 9656.72, BTC RSI: 55.73
Gold Price: 1697.80, Gold RSI: 46.27
Oil Price: 37.29, Oil RSI: 64.88
[Random Sample of News (last 60 days)]
Open Positions on Bitcoin Options Pass $1B for First Time: Open contracts on bitcoin options rose to record highs on Thursday as the cryptocurrency’s price rose into five figures.
Data from major exchanges – Deribit, LedgerX, Bakkt, OKEx, and CME – shows that open interest on options rose above $1 billion, surpassing the previous all-time high of $970 million registered on Feb. 14, according to crypto derivatives research firmSkew.
The metric has increased sharply from the low of $410 million observed in March when the bitcoin market crashed on “Black Thursday,” March 12.
Related:Market Wrap: Interest in Bitcoin Rises as Prices Near $10K, but Can It Continue?
Deribit, the world’s biggest crypto options exchange by volume, contributed nearly 90% of the total on Thursday as open positions on the Panama-based exchange reached a record high of $903 million.
Global options trading volume also jumped to $213.7 million yesterday, the highest level since the March 12 crash, while bitcoin itself clocked a two-month high of $10,062 on CoinDesk’sBitcoin Price index. At press time, bitcoin had dropped back to near $9,830, representing a 1.5% drop on the day, but an over 10% gain on a week-to-date basis.
Options are derivative contracts that give the buyer the right, but not the obligation to buy or sell the underlying asset at a predetermined price on or before a specific date. A call option gives the purchaser the right to buy, while the put option gives the buyer the right to sell.
Open interest refers to the number of options contracts that havebeen traded but not yet liquidated by an offsetting trade or an exercise orassignment. While open interest represents the number of contracts open at agiven point of time, trading volume refers to the number of contracts tradedduring a specific period.
Related:First Mover: Search Interest in Bitcoin’s Halving Reaches Fever Pitch as Price Hits $10K
The surge in open interest looks to have been caused by increased demand for put options, or bearish bets.
See also:Bitcoin Halving, Explained
“Post-March crash, put options have been bought for downside protection primarily. As the market has rallied, more interest has entered via increased put accumulation,” said Tony Stewart, a derivatives trader and analyst in Deribit’sMarket Insights channel.
Validating Stewart’s argument is the one-month put-call skew’srecent risefrom -3% to 9.1%. The positive figure indicates that put options are costlier due to drawing greater demand than calls. Similar sentiments are being echoed by the put-call ratio, which rose to a 10-month high of 0.81 on Monday, according toSkew data.
The put bias seen in the options market suggests investors may be hedging for a potentialpost-halving price drop. Bitcoin isset to undergoits third mining reward halving on Tuesday, following which the reward per block mined will drop to 12.5 BTC to 6.25 BTC.
That the supply-altering event is a long-term bullish development has been extensively discussed by the analyst community for many months. Bitcoin’s price has rallied by nearly 160% since bottoming out at $3,867 in March and has recently decoupled from traditional markets as hype over the event mounts.
Such strong rallies ahead of major events are often followed by price pullbacks.Historical datashows the cryptocurrency suffered a 30% drop in the four weeks following its second reward halving, which took place on July 9, 2016.
“We may see the market drop by 25%-35% from the peak, but we expect it to be followed by a period of range-bound trading over a number of months and then a gradual move back up. The longer-term horizon for bitcoin is extremely bullish but in the short-to-medium term, we think we’ll see a lot of disappointed players out there,” said Ed Hindi, CIO of Tyr Capital Arbitrage SP, which focuses on liquidity provision and arbitrage within the cryptocurrency markets.
See also:Bitcoin Breaches $10K for First Time Since February
Hence, it’s not surprising that trades are buying hedges (puts)against long positions in the spot or futures market.
Bitcoin is widely expected to remain bid over the weekend due to “FOMO” buying from retail investors. FOMO, or fear of missing out, refers to panic buying in a rising market.
Until the halving has passed, more price rises look likely. “$10,000 has already been breached and the psychological resistance of that has been overcome. We are keeping our eye on $10,500 as the next key level,” said Matthew Dibb, co-founder of Stack, a provider of cryptocurrency trackers and index funds.
Disclosure:The author holds no cryptocurrency at the time of writing.
Edit (12:27 UTC, May 8):This article has been corrected to show the previous all-time high in options open interest was $970 million.
• Bitcoin Breaches $10K for First Time Since February
• Market Wrap: Bitcoin at $9.9K as Halving Chatter Increases || Chinese DeFi Platform dForce Raises $1.5M From Multicoin, Huobi Capital: One of Chinas largest decentralized finance (DeFi) platforms has raised fresh capital for expanding its product lineup. Announced Tuesday, the dForce Foundation has completed a $1.5 million seed round led by Multicoin Capital and joined by Huobi Capital and CMB International (CMBI). The foundation plans on earmarking the funds for staffing and new DeFi product launches in 2020, according to a statement. The foundation maintains two protocols, lending platform Lendf and synthetic fiat stablecoin USDx. Related: Morgan Creek Invests in Startup Bringing Bitcoin to DeFi dForce founder Mindao Yang told CoinDesk the firm, which launched in 2019, will use the funds to continue stepping outside the stablecoin game and into the larger DeFi movement. Part of that vision includes Lendf , the lending platform dForce launched in September 2019. Yang said Lendf has become the largest protocol in China for lending fiat-backed stablecoins, such as USDC or USDT, regardless of its smaller share of the DeFi market. DeFi Pulse lists dForce as the seventh-largest DeFi market by value locked. Indeed, the lending protocol currently has more fiat-backed stablecoins out for borrow than both Compound and Aave ranked third and fourth in terms of market share with some $8.5 million in loans compared to $5 million and $7 million, respectively. Big in China Yang said most DeFi protocols have been built in Western markets for Western customers, giving the dForce protocol elbow room in China. The new capital will help the firm build on this lead in the DeFi sector, Yang said. Related: VC Firm Andreessen Horowitz Targets $450M for Second Crypto Fund: Report Its quite a full stack that we can service in China, Yang said. This market is very different than the Western markets where the majority of the DeFi protocols are targeted. The slight edge may also have ties to what assets are being lent on Lendf, particularly USDT. Tether is by far the largest stablecoin by market cap with some $7 billion assets on-chain as of press time, according to Messari . Story continues Neither Compound nor Aave, where USDC is the predominant crypto asset, offer lending for UDST. Meanwhile, USDT makes up almost 80 percent of lent assets on Lendf. Theres only a total of $2.7 million USDx assets currently in circulation, according to Etherscan . Its the second dForce round for CMBI, the investment arm of the fifth-largest bank in China, after solely leading the startups prior round. CMBI also recently participated in a $5.7 million token sale for the Nervos Network . dForces Yang said the foundation has fostered a long-term relationship with the bank, which is known to invest in the emerging tech sector. Yang said the investment was notable in that CMBI was probably one of the only [Chinese] banking groups that invested publicly in a DeFi application to date. Related Stories MakerDAO Users Sue Stablecoin Issuer Following Black Thursday Losses Crypto Long & Short: DeFi and Traditional Finance Are Forming an Unlikely Friendship || Crypto Exchange Offers Credit Lines so Institutions Can Trade Now, Pay Later: LGO Markets is taking an unusual step for a cryptocurrency exchange by letting clients trade without pre-funding accounts.
The Hoboken, N.J.-based firm’s clients, mostly crypto hedge funds and market makers, can now get an intraday credit line and send cash to the exchange when the trading day is over, CEO Hugo Renaudin told CoinDesk. For LGO, which now boasts over 50 clients (almost all of them institutions) in about 20 countries, the nominal end of the day is 10 a.m. Eastern time, Renaudin said.
After passing a risk assessment, a client can get up to “several millions” of dollars in credit to tradebitcoinand then pay what it owes at the settlement time, he said. “They don’t have to park funds, there is no risk of a hack, it’s a scalable and flexible way to finance. We can extend these credit lines, and it works as a clearinghouse.”
Related:Nomics Machine-Learning Tool Offers 7-Day Price Forecast on Top 100 Cryptos
Although it’scommonplacein traditional financial markets, allowing trades without pre-funding is rare in crypto. According to Matt Trudeau, chief product and strategy officer at ErisX, LGO’s competitor, pre-funding is necessary to mitigate counterparty risk.
“Because both cash and crypto are already in the clearinghouse, we eliminate settlement risk for the counterparties. This also means all participants on our exchange can confidently trade with all other participants on our exchange without needing to know who they are, and assess their credit risks,” Trudeau explained.
To finance this service, LGO is using a combination of funds it raised in its 2018token sale(which brought in 3,600 BTC, nearly $36 million at the time) and borrowed capital, both in fiat and crypto, from traditional banks and crypto lenders, Renaudin said. He wouldn’t identify the lenders.
LGO is banking at the crypto-friendly Signature Bank and recently got financing from the market maker B2C2, whichboughta share in the exchange this month.
Related:Tim Draper Firm Launches ‘Crypto Exchange’ Anyone Can Plug Into WordPress
The credit line is not the first unorthodox idea LGO has tried.
When it launched in March 2019, RenaudintoldCoinDesk that LGO wouldn’t keep clients’ funds. The plan was that users would maintain their own custody and trade via multi-signature wallets that required two out of three private keys to release funds.
A year later, LGO quietly abandoned the idea. The reason? Institutional clients, who are the exchange’s target audience, don’t want to take care of their keys, Renaudin said last week.
“Most of the volume is made by crypto-native institutions, like hedge funds, and they are used to using custodial platforms,” Renaudin explained.
Having funds with aqualified custodianhelps the institutional players sleep at night, he said, so LGO’s clients can hold their funds either on the exchange itself or use BitGo, whichpartneredwith LGO in April 2019.
Another idea, making its own hardware wallet, which LGO wasplanning to releasesome time in the summer of 2019, also got scrapped, Renaudin said. For the same reason: no client demand.
“All the bells and whistles we talked about last year, they were good, but when confronted with the market, we saw the demand was not there,” Renaudin said.
LGO has also decided not to pursue a number of licenses as originally intended. These include a New York BitLicense, a FINRA broker-dealer license and a National Futures Association broker license. All this is on hold now, Renaudin said.
LGO decided to focus on the more familiar jurisdiction of France, where Renaudin and other members of the team hail from. The exchange has applied for a digital custodial license there, Renaudin said. LGO is registered as a money services business (MSB) in the U.S. with the Financial Crimes Enforcement Network (FinCEN), a bureau of the Treasury Department.
However, one idea from the early days survived: broadcasting LGO’s trades (both the fiat and crypto sides) to the Bitcoin blockchain. A list of these trades can beseenon the LGO website.
According to this page, LGO has processed some$33million worth of trades so far in April,$138 million in March and $96 million in February.
UPDATE(14:46 UTC, April 27, 2020): A previous version of this article mistakenly said LGO banked at Silvergate Bank instead of Signature Bank.
• Some US Citizens Look to Be Splashing Their Stimulus Cash on Cryptocurrency
• TradeStation Builds Out Crypto Trading Arm With ErisX Tie-Up || Crypto exchange ErisX announces launch of physically settled ETH futures: Cryptocurrency derivatives exchange ErisX announced Monday the launch of physically settled Ether (ETH) futures contracts, a first-of-its-kind debut in the U.S.
Announcing the news in amedia post, the Chicago-based firm said users can trade the contracts starting today. The contracts are based on ETH-USD with monthly and quarterly expirations.
"Ethereum has genuine functionality and use cases with real people, firms and governments using the network, and it’s structure has many similarities with existing commodity markets," the firm stated in the blog post. A representative confirmed that "the Ether Futures are available to trade today" in an email.
ErisX launched its bitcoin futures product in December 2019. The futures product hasseen scant interestsince that time, though the rep told The Block that "We have seen additional trading in the Bitcoin Futures market."
There were no ETH-based derivatives products available in the U.S. prior to ErisX's offerings, primarily because of lingering uncertainty around ETH's legal status in the eyes of American regulators. However, Commodity Futures Trading Commission (CFTC) chairman Heath Tarbertsaidin October last year that "it is likely that you would see a futures contract in the next six months to a year."
Last week, ErisXreceiveda BitLicense from the New York State Department of Financial Services (NYDFS) to serve New York customers. It was also granted a money transmission license.
The addition of ETH contracts follows a number of strategic partnership announcements for the firm in 2020. Earlier this year, the firm said Fidelity Digital Assets had integrated into its platform, enabling it to route orders to the venue. TradeStation also connected to ErisX.
Founded in 2017, the exchange has raised a total of $47.5 million to date, and is backed by Castle Island Ventures, Dragonfly Capital Partners and New York Digital Investment Group, among others.
© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. || Bitcoin News Roundup for May 8, 2020: Bitcoin bumps against six figures while a cancelled crypto event draws legal ire. Its CoinDesks Markets Daily podcast. This episode is sponsored by ErisX , The Stellar Development Foundation and Grayscale Digital Large Cap Investment Fund . For early access before our regular noon Eastern time releases, subscribe with Apple Podcasts , Spotify , Pocketcasts , Google Podcasts , Castbox , Stitcher , RadioPublica or RSS . Related: Scams, Schemes and Crypto Privacy, Feat. Preston Byrne Todays stories: Coinstar Plans Massive Expansion of Coinme Bitcoin ATMs as Usage Spikes One of Bitcoins Earliest Miners Is Dedicating $66M in Crypto to a Fund of Funds First Mover: Search Interest in Bitcoins Halving Reaches Fever Pitch as Price Hits $10K Related: The Rise of the Dollar Killers Massive Adoption Conference Organizer Sued After Refund Delays Andy Serkis Hobbitathon For early access before our regular noon Eastern time releases, subscribe with Apple Podcasts , Spotify , Pocketcasts , Google Podcasts , Castbox , Stitcher , RadioPublica or RSS . Related Stories 9 Reasons Why Bitcoin Has Never Been Stronger Going Into a Halving Bitcoin News Roundup for May 7, 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. || Coinbase-powered Oobit Launches Crypto ‘SkyScanner’ Equivalent with Integrated Fiat Gateway: SINGAPORE, SINGAPORE / ACCESSWIRE / April 11, 2020 /Oobit is delighted to announce the launch of its gateway solution for the cryptocurrency sector. Users will gain access to multiple features, including the ability to compare prices and offerings across different exchanges, as well as a single KYC passport for use on multiple trading platforms. Oobit has also partnered with Coinbase for the provision of wallet, escrow, and custodial services, meaning users are assured of a high degree of security.
Oobit empowers users of all levels to identify trading opportunities across all sources of liquidity, bringing visibility and trust to the entire cryptocurrency ecosystem.
The core features of Oobit are as follows.
Oobit Hunteris to cryptocurrency what Skyscanner or Expedia are to flights. It's an AI-driven liquidity aggregator that discovers the best prices by searching across various fiat to crypto onboarding platforms. Users access the feature via an intuitive web interface.
Hunter comprises two parts. It provides a peer-to-peer trading service, similar to that offered by LocalBitcoins, using Coinbase's trusted and highly secure infrastructure for escrow and digital asset custody. It also acts as a search engine for trading opportunities across worldwide exchange platforms.
Oobit Hunter can provide value to anyone from newcomers looking for the best place to buy cryptocurrencies with fiat, to advanced traders seeking to profit from exchange arbitrage.
Oobit Passis a unified know-your-customer (KYC) passport that enables users to submit their personal information once so that they're pre-verified for trading on multiple exchange outlets. It uses advanced face and optical character recognition for fast approval, reducing the wait time to start trading.
Cryptocurrency exchanges can opt into the service, thus reducing their own KYC burden and streamlining the onboarding process so that traders are up and running immediately after signup.
All personal data and documents stored on Oobit Pass is secured with military-grade local encryption to protect against identity theft.
Oobit Directoffers a fast and easy means of using a credit or debit card to buy cryptocurrencies within minutes.
Oobit xMapoffers merchants the business tools they need for integrating cryptocurrencies into their operations. This may be for payments or to gain exposure to the growing cryptocurrency community. The map shows all crypto ATMs and physical exchanges across the globe.
Lastly,Oobit Walletis a cryptocurrency wallet integrated into the broader Oobit user interface and powered by Coinbase. While Oobit operates the wallet architecture, user funds are stored on the Coinbase custodial wallet. Currently, it supports Bitcoin, with zero deposit fees and only a nominal fee for withdrawals. Integration with more cryptocurrencies is coming soon.
The Oobit Team
Oobit is led by a team experienced in areas including finance, marketing, and private equity funding. Amram Adar, co-founder and CEO, previously led the development and design teams in Wacetech Investments Ltd. Moshe Schlisser, Chairman, is the co-founder of Shefa Capital, before which he served as Managing Partner of Iberica Investments.
Speaking of the Oobit launch, CEO Amram Adar said:
"We are delighted to bring Oobit's multifunctional incentivized gateway solution to cryptocurrency users across the globe. Whereas most established industries have comparison platforms that make it easy for users to decide between the products and services of different providers, until now, there has been no such solution for cryptocurrency users. We believe the launch of Oobit will play a pivotal role in helping traders worldwide make decisions about buying and selling cryptocurrencies."
Users can also look forward to other new features arriving soon. These include a crypto-to-crypto (C2C) exchange service andOobit Pay, a debit card which will provide users with a fiat denominated wallet and allow them to convert crypto to fiat once loaded to their card.
About Oobit
Oobit started in 2017 as a simple P2P trading community where users could connect to buy and sell Bitcoin. However, in order to ensure users could access the best liquidity, the company evolved to develop a web-based platform to identify trading opportunities worldwide, bringing trust and visibility to the entire cryptocurrency ecosystem.
Oobit's incentivized gateway solution can handle millions of trades posted on Oobit annually, across more than 70 locations worldwide. Oobit makes it fast, simple, and secure to buy, sell, and trade anywhere, any time.
For more information please visit:www.oobit.com
Contact:
Dan [email protected]+972-545-464-238
SOURCE:Oobit
View source version on accesswire.com:https://www.accesswire.com/584725/Coinbase-powered-Oobit-Launches-Crypto-SkyScanner-Equivalent-with-Integrated-Fiat-Gateway || Iranian President Calls for National Crypto Mining Strategy: Iranian President Hassan Rouhani has ordered the government to draw up a renewed national approach for the emerging crypto industry. Chairing Iran’s economic coordination headquarters – a seminar for the national economic strategy – earlier this week, Rouhani told officials from the Central Bank of Iran (CBI), energy department and information and communication technology ministries that they needed to devise a new national strategy for crypto mining, including regulation and mining revenue, Iranian news site ArzDigital reported Wednesday. The news comes barely two days after the Iranian parliament published a bill proposing to apply the country’s strict foreign exchange and currency smuggling regulation to cryptocurrencies. The new parliamentary law would also require crypto exchanges operating in the country to first register with the CBI – possibly in a move to try and prevent too much capital leaving the country. Related: First Mover: Bitcoin Just Got Easier to Mine, but for How Long? Penalties for smuggling in Iran can include fines and imprisonment. Just months ago, the administration of U.S. President Donald Trump raised concerns that Iranians were using digital assets in order to circumvent sanctions. See also: Iran Issues License for Nation’s Biggest Bitcoin Mining Operation Iran was one of the first countries to officially recognize cryptocurrency mining as a legitimate industry back in July 2019. The government now issues mining licenses, giving companies the right to mine and then sell off any digital assets produced. An industry report in January said Iran had issued over 1,000 such licenses in its first six months. Related: Iran Moves to Restrict Crypto Exchanges Under ‘Currency Smuggling’ Laws Iran currently has a 4% share in bitcoin’s total hashrate, according to the Bitcoin Mining Map , more than double what it was at the beginning of September 2019. It’s unclear why Rouhani wants Iranian officials to revisit bitcoin mining regulation. With the clampdown on value leaving the country, in the form of cryptocurrencies, it’s possible the President wants to ensure miners, too, aren’t taking their money away from the government’s clutches. Related Stories EU Supercomputers Hijacked From COVID-19 Research to Mine Cryptocurrency Crypto Long & Short: Mining Derivatives Point to Growing Sophistication || MoneyGram Shares Jump 50% As Western Union Reportedly Looks For Acquisition: The shares ofMoneyGram International Inc.(NASDAQ:MGI) skyrocketed on Monday and premarket session on Tuesday, as BloombergreportedthatWestern Union(NYSE:WU) is looking to acquire the payments company.
What Happened
Western Union has made a takeover offer to MoneyGram, but an agreement is yet to be reached, people familiar with the matter told Bloomberg.
The deal, if finalized, will bring the two veteran money transfer companies together as they struggle to keep their businesses afloat.
MoneyGram has about $878 million in debt, according to Bloomberg, and the shelter-in-place orders imposed to curb the spread of the novel coronavirus (COVID-19) gave another setback to its payments infrastructure around the globe.
Chinese e-commerce giantAlibaba Group Holding Ltd.'s(NYSE:BABA) subsidiary Ant Financial had made an acquisition offer of $1.2 billion to MoneyGram in 2017, but President Donald Trump's administration blocked the deal amid rising tensions with the Chinese government, Reutersreportedat the time.
Why It Matters
Western Union and MoneyGram have been losing ground to financial technology companies likePayPal Holdings Inc.(NASDAQ:PYPL),Square Inc.(NYSE:SQ), and Stripe, which provide faster transaction processing at reduced costs.
Online payment services offered by technology giants, includingAlphabet Inc.'s(NASDAQ:GOOGL) (NASDAQ:GOOG) andApple Inc.(NASDAQ:AAPL) present further competition in the field.
Social media companyFacebook Inc.(NASDAQ:FB) isplanning to join the fraylater this year with the Libra cryptocurrency, which will allow users of its and subsidiary WhatsApp and Instagram's platforms to make direct and quick payments.
Price Action
MoneyGram shares traded 50.58% higher at $3.41 in the pre-market session on Tuesday. The stock had closed the regular session 6.2% higher at $2.59.
Western Union shares were up 6.2% in the after-hours at $22 after closing the regular session 3.5% higher at $20.71.
See more from Benzinga
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© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin Halving Searches on Google Hits All-Time Highs: Searches for “bitcoin halving” on Google Trends recently reached record highs, suggesting peak interest in the retail crowd about the upcoming supply altering event. Queries about the highly anticipated event peaked in the week ending April 11, the highest in bitcoin’s (BTC) 11-year history. It moved down 18 percent as of press time but remains at elevated levels. It remains double what it was for the week ending March 21. Google Trends scale their searches on a range of 0 to 100 “based on a topic’s to all searches on a topic,” according to the company . Related: First Mover: Bitcoin Attracting More Buyers, Even With Market Stuck in ‘Extreme Fear’ The sharp rise is indicative of an “increase in retail interest,” according to Mike Alfred, CEO of fintech and data company Digital Assets Data. Bitcoin goes through a process called halving every four years . The inbuilt mechanism reduces the reward per block mined on bitcoin’s blockchain by 50 percent. Essentially, reward halving cuts the pace of supply expansion by 50 percent every four years. See also: Bitcoin Halving, Explained The cryptocurrency is set to undergo its third-ever reward halving next month, following which the per block reward would drop to 6.25 BTC from the current 12.5 BTC. Related: Bitcoin Volatility at 3-Month Low as Market Awaits Big Price Move The popular narrative is that halving is a price-bullish event. Bitcoin’s price has witnessed a solid rally over the past few weeks. The top cryptocurrency is currently changing hands near $7,050, representing over 80 percent gains on the low of $3,867 registered on March 13. As such, one may associate the recent price rally with the uptick in the search interest for bitcoin halving. However, it is doubtful anybody would be able to establish just how much of that rise in interest has translated into actual purchases of bitcoins. It’s quite possible that the retail community is merely searching for information about halving and its impact on price, but is sitting on the fence. Even the analyst community is divided on the prospects of a post-halving price rally. Some observers expect the 50 percent reward cut to bode well for bitcoin’s price. “Halving should create increased upward pressure on the price of bitcoin in the coming two months,” Matthew Dibb, co-founder and COO of Stack, told CoinDesk at the beginning of April. Further, stock-to-flow models predict that halving will send bitcoin’s price to $100,000. However, crypto asset analytics company Coin Metrics, in its recent “ State of the Network ” report concluded that miner-led selling pressure around bitcoin is likely to increase in the coming months. Story continues Queries for the phrase “buy bitcoin” have not seen a similar spike. The search term “buy bitcoin” is nearly a third down from when bitcoin suffered its “Black Thursday” crash on March 12. Thus increasing retail interest in the upcoming halving may not translate into additional buying pressure around the cryptocurrency. Yet, some observers cite the recent rise in the number of bitcoin addresses holding at least 1 BTC and at least 0.1 BTC as evidence of accumulation by retail investors ahead of halving. The number of unique addresses holding at least one bitcoin rose to a record high of 805,805 on April 16 after dropping from 795,140 to 789,399 in the seven days to March 16, according to data provided by Blockchain intelligence firm Glassnode. During that time period, bitcoin’s price fell from $9,000 to $4,000. The number of unique addresses holding at least 0.1 BTC also rose to a record high of 2,984,777. The number began rising sharply in February and maintained its ascent even during the March price crash. “We are hearing and seeing increased retail interest. The unprecedented era of stimulus and money printing has pushed many people toward bitcoin as an alternative monetary system,” said Mike Alfred, CEO of Digital Assets Data. The Federal Reserve cut interest rates to zero and launched an open-ended asset purchase program to counter the coronavirus-led economic slowdown. The balance sheets of G4 central banks – the Fed, Bank of Japan, European Central Banks and the Bank of England – have expanded to 40 percent of their respective nation’s combined gross domestic product, as noted by popular analyst Jeroen Blokland. See also: Bitcoin Mining Hardware War Is Heating Up Ahead of the Halving While the rise in the number of unique addresses does suggest accumulation, it should be noted that a single user can hold 50,000 coins in 50,000 different addresses. Therefore, these metrics do not necessarily represent retail accumulations. Related Stories Hong Kong’s First Regulator-Approved Bitcoin Fund Targets $100M Raise Crypto Long & Short: The Battle of the Yields View comments
[Random Sample of Social Media Buzz (last 60 days)]
None available.
|
Trend: down || Prices: 9800.64, 9665.53, 9653.68, 9758.85, 9771.49, 9795.70, 9870.09, 9321.78, 9480.84, 9475.28
|
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 2021-02-22]
BTC Price: 54207.32, BTC RSI: 69.14
Gold Price: 1806.70, Gold RSI: 45.27
Oil Price: 61.49, Oil RSI: 74.22
[Random Sample of News (last 60 days)]
GME, AMC and DOGE: Stop Worrying and Love the Bubble: Yes, but the whole point of a market bubble is lost if you keep it a secret! A smartphone shows GameStop (GME) up 70% with the Reddit logo in the background. Source: TY Lim / Shutterstock.com Wall Street often has a bad habit of ignoring market bubbles. With billions of dollars in commissions at stake, the financial system would rather see Redditors try to send GameStop (NYSE: GME ) to the moon than speak up. Thats what makes todays market bubble so easy to ignore. Even though meme stocks are flashing all the warning signs, top fund managers are vocally doubling down on top stocks , expecting markets to push expensive valuations even higher. But rather than bury our head in the sand, we should recognize the bubble for what it is: an opportunity to make supernormal returns. Thats because all market bubbles create the same rollercoaster of emotions that attentive investors can easily anticipate. And if youre one of the few who recognizes the truth that the weakest investments will temporarily outperform then youre far better equipped to play the markets and still get out before things unravel. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Are We in a Bubble? GME and AMC Stocks Say Yes. Most analysts mistakenly call bubbles when valuations look pricey. But thats misleading. Markets often look expensive because of high anticipated growth: Amazon (NASDAQ: AMZN ), Netflix (NASDAQ: NFLX ) and Facebook (NASDAQ: FB ) shared a 600x average price-earnings ratio in 2014. (The companies would go on to add over $2 trillion in market capitalization). And sometimes, prices can stay high indefinitely; top tech firms can sport stubbornly rich valuations for decades. In actuality, true bubbles form for a different reason: Its when too many optimistic buyers overwhelm a markets ability for price discovery. That happens when investors start buying with the sole intention of driving prices higher to unload their shares on someone else. And thats where we find ourselves today. According to a study by the Harris Poll, a quarter of Americans bought at least one share of a viral stock like GameStop or AMC Entertainment (NYSE: AMC ) in January before their epic collapse. At the time, most investors realized the situations idiocy 56% sold their shares the same month. But as hot money continues to pour into even hotter stocks, Robinhood investors are also getting swept up in the mania. Consider last week. As GameStop shares sank back to earth, young investors turned their attention to pot stocks and meme-related altcoins as if nothing happened. When even a minor press release can send shares of a money-losing cannabis company up 40%, why worry about losses if you can make them back tomorrow? Story continues As the frenzy in the stock and cryptocurrency markets keep building, older investors will start feeling a sense of market bubble déjà vu. Because when earnings, financial strength or even a decent business cease to matter, its a sure sign that the market is reaching a state of mania. Making Money During a Bubble To be clear: Bubbles are terrible for society. They distort prices and swindle investors out of their life savings. Researchers have linked stock market crashes to higher rates of suicide and to untold psychological distress . And thats why its important to treat bubbles carefully. Playing the game means exposing your portfolio to the risk of loss, and possibly making the bubble even worse. But since most of us dont have the fortune to change the hand were dealt, we might as well know how to play the game. So, heres the good news: Bubbles tend to last longer than people expect. Overall markets also tend to rise when retail investors are making money, driving markets even higher economists have already credited last years $1,200 stimulus checks for 2020s market performance. And when cryptocurrency markets alone add almost $1 trillion to investor pockets in less than three months, investors will make sure their newfound wealth keeps making its way into more Reddit-fueled stocks. This also means that marginal companies tend to outperform high-quality ones during bubbles as investors take more risks. In 1999, investors looking for the next AOL pushed unbelievable companies to even more unbelievable heights. FreeInternet.com became the fifth-largest ISP in the U.S. despite having no real plans to make money. And today, a similarly predictable pattern is already brewing. In the marijuana space, low-margin growers Tilray (NASDAQ: TLRY ), Aurora Cannabis (NYSE: ACB ) and Sundial (NASDAQ: SNDL ) have returned 200% since January almost three times higher than wide-moat brands Cronos (NASDAQ: CRON ) and Canopy Growth (NASDAQ: CGC ). Riding a Bull Market As the 2021 bubble continues to mature, investors can expect cheap, marginal companies to keep outperforming before an eventual burst. Electric vehicles . Young and money-losing firms from Lucid Motors to Workhorse (NASDAQ: WKHS ) will outpace stalwarts like Tesla (NASDAQ: TSLA ) as investors turn to riskier bets for higher returns. Cryptocurrencies . Lesser-known altcoins will eat away at Bitcoins (CCC: BTC ) dominance. Expect Bitcoins 70% market share to decline as lower price-per-coin alternatives rise. Tech . Lower-quality small-cap SPACs will see larger gains relative to profitable big-tech companies. But these riskier investments also come with an inevitable risk of total loss. So to profit in 2021, investors need to follow the four golden rules of bubble buying: Focus on small firms with large potential. Most wont survive the eventual shakeout, but these tend to outperform quality when greed runs high. Sell your initial stake as soon as you can. Playing with house money means you wont lose your initial bet. Never double-down on any winning investment thats the surest way to lose a lot of money in a bubble. And finally, only gamble with money youre willing to lose. Investors who follow this advice will emerge from 2021 wealthier, healthier and happier than those who ignored the signs of a bubble. Because when the dam breaks, dont expect blue-chip companies to remain expensive either. Teslas $800 billion valuation means the company will have to out-earn Apple (NASDAQ: AAPL ) by 2030 to justify its worth today. And Nike (NYSE: NKE ) now trades at almost 50 times EV/EBITDA, four times higher than its historical average. If past bubbles are a guide, when the bubble starts bursting in retail-oriented stocks, the fallout will spill to blue-chip companies as regular investors yank out money. Whats Your 2021 Game Plan? Long-term investors have always held to a simple truth: Stay invested long enough, and the bumps eventually even themselves out. Its held true for a hundred years and probably will for a hundred more. But market bubbles can turn even the most disciplined investors into fools. When you see your neighbors (or people online) making easy money with relatively little effort, theres always a temptation to jump in. Doing so means recognizing the bubble for what it is a game of market speculation. Because when a business underlying value means nothing, its only the stocks popularity that will drive prices higher. Keep that in mind as you learn to stop worrying and love the bubble On the date of publication, Tom Yeung did not have (either directly or indirectly) any positions in the securities mentioned in this article. Tom Yeung, CFA, is a registered investment advisor on a mission to bring simplicity to the world of investing. More From InvestorPlace Why Everyone Is Investing in 5G All WRONG Top Stock Picker Reveals His Next Potential Winner It doesnt matter if you have $500 in savings or $5 million. Do this now. #1 Play to Profit from Biden's Presidency The post GME, AMC and DOGE: Stop Worrying and Love the Bubble appeared first on InvestorPlace . || Bitcoin Tests $40K, May Hit "$50K to $100K": ETFs to Play: The price of Bitcoin has been going through the roof lately. It took less than a month to cross the difference of $20,000 in value as the cryptocurrency hit the $20,000-mark for the first time on Dec 16 and touched $40,000 on Jan 7. Bitcoin soared about 200% last year. Institutional interest has mainly led to this buoyancy.
Sergey Nazarov, the cofounder of Chainlink, said a few days back that “rising inflation and increasingly negative views of modern monetary policy are forcing investors to look for alternative ways to preserve the value of their capital,” as quoted on Businessinsider.
The currency “will be on the road to $50,000 probably in the first quarter of 2021,” said Antoni Trenchev, managing partner and co-founder of Nexo in London, one of the world’s biggest crypto lender, as quoted on Yahoo Finance.
Let’s highlight the reasons for the rally:
Corporations’ greater acceptance in allowing customers to hold bitcoin and other virtual coins in their online wallets has been favoring the cryptocurrency.PayPal Holdings IncPYPL is one such company to have recently announced this move.
This is great news for bitcoin and rival cryptocurrencies. PayPal's competitorSquareSQ launched support for bitcoin back in 2018 through its Cash app. Square also bought $50 million in bitcoin in October as part of a larger investment in cryptocurrency.
Other companies that accept bitcoins includeMicrosoft(MSFT),AT&T(T) ,Dish Network(DISH)Burger King,Domino’s Pizza(DPZ) ,Goldman Sachs(GS) among others. Facebook-backed cryptocurrency Libra has also been rebranded “Diem” in an effort to gain regulatory approval by refurbishing the project in a simpler manner.It is run by a consortium called the Diem Association.
David Marcus, the head of Facebook Financial, also known as F2, said he hopes the cryptocurrency called Diem will hit the market in 2021. A bitcoin ETF could finally see the day of the light in 2021 as VanEck recently filed an application with the SEC. Notably, the SEC had earlier rejected several bitcoin ETF proposals (read: VanEck Files for a Bitcoin ETF All Over Again).
JP Morgan Chase & Co. said recently that the upsurge of cryptocurrencies in mainstream may replace gold. Bitcoin is likely to outdo gold as millennials will be playing an important role in driving the investment market in the long run given their preference for “digital gold” over traditional bullion, JPM indicated.
Investors are probably viewing it asa hedge against inflation and an alternative to the depreciating dollar, per market watchers. There have been about $7 billion outflows from gold and more than $3 billion of inflows into the Grayscale Bitcoin Trust, per a Reuters article.
However, JPM noted that the bitcoin price needs to soar fivefold (which results in $146,000) from here (market cap of $575 billion) to match the value of private gold wealth held in bars, coins or exchange-traded funds. However, the bank now sees chances of a $50,000 to $100,000 level of bitcoin, though it will likely remain unmaintainable due to extreme volatility.
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.
Not only PBOC, other central banks are also walking the same path. Sweden’s Central Bank, Riksbank is 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.
A digital, or virtual, euro would be an electronic version of euro notes and coins, it would be a legal tender and guaranteed by the ECB. 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.
Though bitcoin ETFs are not available to investors, they have blockchain ETFs at their disposal. Per a source, “the blockchain in Bitcoin literally acts a ledger; it keeps track of the balances for all users and updates them as money changes hands.”
So, if investors cannot lay their hands on a bitcoin ETF now, they can definitely familiarize themselves with the concept through blockchain ETFs like likeAmplify Transformational Data Sharing ETFBLOK. 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 ETFSOXX andVanEck Vectors Semiconductor ETFSMH.
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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free 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 ReportAmplify Transformational Data Sharing ETF (BLOK): 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 || India’s Securities Regulator Wants IPO Promoters to Sell Crypto Holdings: Report: India’s top securities regulator reportedly wants initial public offering (IPO) promoters to divest themselves of any holdings of cryptocurrencies before their companies consider filing for public listings.
According to a Mondayreportfrom the Economic Times, the Securities and Exchange Board of India (SEBI) has been informally communicating the message with merchant bankers, lawyers and company executives over several weeks.
No written communication has been formally provided by SEBI, however, several people close to the matter told the Economic Times the communications could be related to India’s planned restrictions on non-state-issued cryptocurrencies.
Related:Crypto Volatility in Focus as Bitcoin and Ether Retreat from Records
India is said to be moving toban the useof “private cryptocurrencies” with a new bill set to be introduced in the current parliamentary session. The bill is also expected to provide a framework for the Reserve Bank of India to issue its own digital rupee.
“The market regulator seems to think that this could become a risk for investors if a promoter holds an asset that is illegal in the country,” said a securities lawyer in the report.
See also:India Grants Crypto Holders Reprieve Ahead of Likely Ban: Report
Mahesh Singhi, managing director of investment banking firm, Singhi Advisors, said the fear is that the funds raised could be used for speculation.
Related:Will Bitcoin Replace the Dollar as the Global Reserve Currency?
“The regulator had been giving indirect messages on this and in certain cases even other investors are cautious when it comes to promoters holding crypto assets as these could be banned in India,” said Mahesh.
Having cryptocurrency holdings is a “red flag” that would need to be mentioned in an IPO prospectus, he added.
• India’s Securities Regulator Wants IPO Promoters to Sell Crypto Holdings: Report
• India’s Securities Regulator Wants IPO Promoters to Sell Crypto Holdings: Report || Bubbles Are Good for Bitcoin: Over the last few weeks, the price ofbitcoinhas hit a record high ofmore than $41,000, blowing past the 2017 bubble high point of $19,783. The price has since declined relatively rapidly, and questions have arisen about what’s next for this latest bubble. This presents an opportune moment to analyze why these bubbles form and what they mean for the future of bitcoin.
Price volatility causes market uncertainty and is often viewed as detrimental. However, for bitcoin, the price volatility – such as this recent bubble and past ones of varying sizes in 2017 and 2019 – can be ultimately beneficial for the future of cryptocurrencies, because it promotes wider adoption of this up and coming technology.
Yanhao “Max” Wei is an assistant professor of marketing at USC Marshall School of Business.
Related:The Bitcoin Paradox
In some sense, bubbles, which we are defining as a price surge that experiences a decline afterward and then stabilizes at a lower level, essentially becomes free advertising for bitcoin. Headlines splash across major mainstream media outlets about the rising price. Social media buzz begins to build. Soon, people start wondering about bitcoin and whether they should get in on the action.
This phenomenon was borne out inresearchI conducted with my USC Marshall colleague Anthony Dukes, blending standard models of product diffusion with macro-financial economics to identify a new view of currency speculation.
The models showed us that price bubbles and user adoption can reinforce each other in a cryptocurrency market. In fact, Google searches for bitcoin peaked at the same time that bubbles were peaking in November 2013 and December 2017. The largest jump happened in 2017, around the time of the largest price bubble in bitcoin history prior to this most recent one. During this current bubble, we’re already seeing the start of a surge in Googletrends for searchesof the terms “bitcoin” and “blockchain.”
People’s interest – reflected in the volume of the Google search – surged as the bitcoin price surged. Our research notes that these surges in attention are connected to events that alter people’s ability to use bitcoin, such as the introduction of theShared Coin servicein November of 2013, which offered anonymity in transactions.
Related:First Mover: Risks Nobody's Ever Seen, From the Fed to Tether (and GameStop)
Further, if we look at the historical number of bitcoin wallet accounts, we see there was much steeper growth in the number of accounts around December 2017, which matches the peak in the Google trend. This peak in attention corresponds in time with decisions by Japan, Russia and Norway to recognize bitcoin as a legitimate currency.
This accelerated interest and adoption has a big impact on the price of bitcoin. To more users, bitcoin better serves as a medium of exchange, which in turn attracts even more people to use bitcoin. The expectation of growth attracts investors to bitcoin and drives up its price.
It becomes a reinforcing loop where price bubbles accelerate the growth of the bitcoin user base, the expectation of which then fuels the price bubble. The question of why bitcoin price has been so volatile should be answered with this reinforcement in mind.
Essentially, the spotlight on bitcoin bubbles is beneficial because the influx of investors helps make the currency more liquid – more widely accepted as payment and easier to be quickly exchanged. The lack of liquidity is one of the biggest obstacles for a new currency to be adopted.
See also:Crypto Long & Short: No, Bitcoin Is Not in a Bubble
The novelty of a price surge is likely important. As the price newly started to rise, more people heard about bitcoin and were interested enough to create a wallet account. If the price increase wasn’t a novelty, it wouldn’t have attracted the same level of excitement and attention. Compare this to when a brand introduces limited edition shoes, and the hype surrounding the “drop” gets attention in and of itself.
Aside from bitcoin itself, the attention on the big price bubbles very likely has sped up the diffusion of the promising technology that powers bitcoin, namely the blockchain, which holds promise for many applications beyond cryptocurrencies. Essentially a technology to secure any type of data or records, blockchain is being applied in supply chain, real estate, health care and many more sectors.
Scholars have tended to look at the price bubbles and the user adoption as two separate issues – as either a finance or a marketing issue. Our research raises the importance of the two interacting with each other. The infamous price volatility and bubbles may very well be embraced by bitcoin advocates, as these help expand the universe of bitcoin users and where the currency can be used.
• Bubbles Are Good for Bitcoin
• Bubbles Are Good for Bitcoin || Cryptocurrency Market to be Driven by Increasing Adoption of e-financial Services, says Fortune Business Insights: List of the Companies Profiled in the Market: Microsoft Corporation, BitFury Group Limited, Advanced Micro Devices, Inc., Ripple Labs Inc., Intel Corporation, NVIDIA Corporation, Coinbase Ltd., AlphaPoint Corporation, Xilinx Inc., BitGo, and BTL Group Ltd Pune, India, Feb. 11, 2021 (GLOBE NEWSWIRE) -- The global cryptocurrency market to gain from increasing Internet penetration worldwide. Recently Fortune Business Insights has announced a report titled, “ Cryptocurrency Market Size, Share and Global Trend by Component (Software, Services), Process (Transaction, Mining), Type (Bitcoin, Etherum, Litecoin, Ripple, Dashcoin), End User, and Geography Forecast till 2025.” As per the report North America was leading the global cryptocurrency market in 2017. The growth witnessed is attributable to high adoption of digital currency in the region. The trend is unlikely to change and North America may lead the global cryptocurrency market through the forecast period. Request To Sample PDF Brochure: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/cryptocurrency-market-100149 The rising demand for online financial services in the region is likely to contribute the growth of the market in North America. Besides this, North America holds 27% participants, 39% of wallets, 18% transactions, and 19% of cryptocurrency paymen companies. This is a primary reason behind the high demand witnessed in the region. It also facilitates the higher adoption of cryptocurrency. The cryptocurrency market in Asia pacific is anticipated to expand at a relatively higher CAGR. The growth witnessed is attributable to increasing number of cryptocurrency transactions taking place in the region. Japan is known for major investments in cryptocurrency. Rising investments cryptocurrency have resulted in the formation of new laws for legalization of cryptocurrency under financial service agency. This is a major step taken by Japan and is expected to boost the Asia Pacific cryptocurrency market. Story continues Europe is also amongst the leading regions in the global cryptocurrency market. The growth witnessed is attributable to high adoption of e-financial services in the region. Moreover, Germany issued a statement to consider cryptocurrency as private currency without any payable taxes, unless held for a year or more. Tax and other benefits from cryptocurrency is expected to fuel the demand for cryptocurrency and increase the number of owners globally. Adoption of e-wallets to Drive Market “Government initiated awareness programs regarding cryptocurrency in developing and undeveloped nations are anticipated to enable growth in the global cryptocurrency market,” said a lead analyst at Fortune Business Insights. Some of the chief factors expected to drive the global cryptocurrency market during the forecast period 2018-2025 are rising adoption of e-wallets and consumer shift towards online platforms. Additionally, cashback, promotional, and other offers on e-currency is a factor anticipated to fuel the demand in the global market. On the contrary, requirement of a good network connection and high cost data tariff plans are a few factors that may hamper the growth in the global cryptocurrency market. Click here to get the short-term and long-term impact of COVID-19 on this Cryptocurrency Market. Please visit: https://www.fortunebusinessinsights.com/industry-reports/cryptocurrency-market-100149 Increasing Focus on Acquisitions aimed at Leading the Global Market Rapid technological developments taking place in e-currency and its services is a factor anticipated to propel the growth in the global cryptocurrency market. Additionally, mergers and acquisitions taking place in the global market are likely to propel the growth rate. For instance, Tron acquired a California based company, BitTorrent in 2018 for US$ 150 Mn. In October, 2018 a Belgian based investment firm NXMH acquired Bitstamp a crypto exchange for US$ 350 Mn. The competition among the global cryptocurrency market players is very high. Ask for Customization: https://www.fortunebusinessinsights.com/enquiry/customization/cryptocurrency-market-100149 List of the Companies Profiled in the Cryptocurrency Market: Microsoft Corporation BitFury Group Limited Advanced Micro Devices Inc. Ripple Labs Inc. Intel Corporation NVIDIA Corporation Coinbase Ltd. AlphaPoint Corporation Xilinx Inc. BitGo BTL Group Ltd. Quick Buy - Cryptocurrency Market: https://www.fortunebusinessinsights.com/checkout-page/100149 Table Of Content Introduction Definition, By Segment Research Approach Sources Executive Summary Market Dynamics Drivers, Restraints, and Opportunities Emerging Trends Key Insights Macro and Micro Economic Indicators Consolidated SWOT Analysis of Key Players COVID-19 Impact Analysis Global Cryptocurrency Market Analysis, Insights and Forecast, 2016 – 2027 Key Findings / Summary Market Size Estimates and Forecasts By Component (Value) Hardware FPGA ASIC GPU Others (Paper Wallet, Web Wallet, etc.) Software Mining Software Exchanges Software Wallet Payment Others (Vaults, Encryption, etc.) By Type (Value) Bitcoin Ether Litecoin Ripple Ether Classic Others (Dogecoin, Moneor, Dash, etc.) By End-use (Value) Trading E-commerce and Retail Peer-to-Peer Payment Remittance By Region (Value) North America Europe Asia Pacific Middle East and Africa Latin America Continued….! Speak To Our Analyst- https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/cryptocurrency-market-100149 Have a Look at Related Research Insights: Blockchain Market Size, Share & COVID-19 Impact Analysis, By Component (Platform/Solution and Blockchain-as-a-Service (BaaS)), By Blockchain Type (Public, Private, and Consortium), By Deployment (Proof of Concept, Pilot, and Production), By Application (Digital Identity, Payments, Smart Contract, and Others), By Industry (BFSI, Energy & Utilities, Government, Healthcare and Life Sciences, Manufacturing, Telecom), and Regional Forecast, 2020-2027 Blockchain in BFSI Market Size, Share And Global Trend By Type (Private Blockchain, Public Blockchain, Consortium Blockchain), By Application (Smart Contracts, Security, Trade Finance, Digital Currency, Record Keeping, GRC Management, Identity Management and Fraud Detection), And Geography Forecast Till 2021-2028 Blockchain in Retail Market Size, Share & Industry Analysis, By Component (Platform, Services), By Provider (Application and solution provider, Middleware provider Infrastructure, Protocol Provider), By Organization Size (Large Enterprises, Small & Medium Enterprises) Others and Regional Forecast, 2021-2028 Quantum Cryptography Market Size, Share and Global Trend By Component (Hardware & Services), By Services (Consulting, Support and Maintenance, Integration and Deployment), By Applications (Application Security, Network Security, Database Encryption), By Industry Verticals (Banking, Finance Services, Insurance, Consumer Good and Retail, Government & Defence, Healthcare and Life sciences, Telecom and IT) and Geography Forecast till 2021-2028 About Us: Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in. Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data. At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges. Contact Us: Fortune Business Insights™ Pvt. Ltd. 308, Supreme Headquarters, Survey No. 36, Baner, Pune-Bangalore Highway, Pune - 411045, Maharashtra, India. Phone: US: +1-424-253-0390 UK: +44-2071-939123 APAC: +91-744-740-1245 Email: [email protected] Fortune Business Insights™ LinkedIn | Twitter | Blogs Read Press Release https://www.fortunebusinessinsights.com/press-release/cryptocurrency-market-9952 || Op-Ed: Want to stop the GameStop stock madness? Tax the winners more: Shares of GameStop soared in price in the past three weeks as small investors made huge bets on the company stock. (Los Angeles Times) The public is enthralled by GameStop. The stock of the moribund retailer jumped 19 times in price in three weeks. Small investors have made huge paper profits. Hedge funds have gotten clobbered. The financial pages are rife with talk of a “battle” between the little guy and Wall Street. Who needs the Super Bowl? For that matter, is there any difference? You bet there is. And the government should act to curb it. To be clear, the public has no legitimate interest in which investors make or lose money. Melvin Capital, a hedge fund, reportedly lost 53% of its capital in one month, mostly by betting on GameStop shares to fall. That is nobody’s problem other than Melvin Capital’s and its investors'. The public interest lies in protecting the integrity of markets. “Integrity” means that prices reflect, as best as is nearly possible, expectations of future cash flow. It may come as a surprise to video game players turned day traders, and to many hedge funds, but securities markets serve a vital social purpose. They are not casinos. They are not racetracks. Markets exist to allocate capital. When Apple’s stock is higher than ExxonMobil’s, it is the market’s way of diverting capital from fossil fuels, where it is less useful, into digital phones. Nobody cares if bettors lose money betting on the Tampa Bay Buccaneers or on Bitcoin, because they are speculations with no effect on the real economy. But when productive assets are turned into trading vehicles, society suffers. This is what happened to the housing market in the early 2000s, admittedly a prenatal period for some GameStop aficionados. This problem is not new. Economist John Maynard Keynes observed nearly a century ago, “Speculators may do no harm as bubbles on a steady stream of enterprise. But the position is serious when enterprise becomes the bubble on a whirlpool of speculation.” What is new is the power of social media to turbocharge trading. A mere suggestion becomes a megaphone to a mob of blind followers. Crowds are vehicles for unthinking conformity, not for security analysis. Based on the recent daily trading volume in GameStop, the entire corporation is changing hands every two days. This isn’t price discovery. It’s insanity. Government cannot stop people from buying a stock. But it can distinguish between reasonable investment and Keynesian bubbles on a whirlpool. First, let’s dispense with the myth of small-investor righteousness. The investors impassioned by social media are not the avatars of social good. They are the financial equivalent of the political day traders who stormed the Capitol. Story continues Ted Cruz and Alexandria Ocasio-Cortez, populists of right and left, have opportunistically called for hearings into the decision by Robinhood, an online broker, to limit investment in GameStop and other stocks infected by social media crowd-following. Rep. Ro Khanna (D-Fremont) said Robinhood's move "showed how the cards are stacked against the little guy in favor of billionaire Wall Street Traders.” This is like saying everyone should have a mortgage, no matter their means. Remember how that worked out? Secondly, it is not in the interest of small investors to help them win this “battle”— i.e., to encourage investment in a stock trading at 50 or 100 times what it is worth. Most of them will never get out at that price. If any considerable number tried to sell, the stock would fall quicker than Hank Aaron coming around on a fastball. In fact, Robinhood was under intense pressure, from clearinghouses and regulators, to raise cash. When it and other platforms restricted trades, even temporarily, it did small investors a favor, by limiting prospective future losses. The government has better ways to limit bubbles. The Federal Reserve, for instance, should make clear that it takes seriously its responsibility to protect markets. It has the power to raise margin requirements. If the mayhem continues, it should do so. Popping the bubble will lead to market losses. Failure to pop it now will inflate the bubble, leading to greater losses. And Congress should act on a sensible remedy: a punitive tax on short-term trading. Currently, long-term investments (held for at least one year) are taxed as capital gains (up to 20%); short-term trades (less than one year) are taxed at higher ordinary income rates, or up to 37%. The way to curb super-caffeinated trading is a more draconian short-term tax. Trades made under one month should be taxed at 60%. Less than two weeks: 80%. Less than three days: 90%. This will not end speculation. But it will greatly moderate the most mindless variety of it. With after-tax profits greatly reduced, hair-trigger traders will gravitate to Las Vegas, where they belong. Congress could compensate on the other end by reducing capital gains taxes on stock held for extended periods, such as three to five years. A capitalist society has every interest in encouraging long-term investment. It has no interest in turning securities markets into a shooting gallery. Roger Lowenstein is the author, most recently, of “America’s Bank: The Epic Struggle to Create the Federal Reserve.” @rogerlowenstein This story originally appeared in Los Angeles Times . View comments || PayPal (PYPL) Invests in TaxBit, Boosts Cryptocurrency Presence: PayPalPYPL is leaving no stone unturned to bolster its presence in the promising cryptocurrency market.This is evident from the latest investment of PayPal’s venture arm in U.S.-based tech startup TaxBit, a firm that provides cryptocurrency tax automation software.Reportedly, other companies namely Coinbase, and Winklevoss Capital have also invested in TaxBit.Founded in 2017, Taxbit’s software enables consumers and businesses to calculate the taxes owed on their cryptocurrency holdings.As bitcoin and other virtual currencies are treated as property for tax purposes in the United States, Taxbit can help people to optimize taxes on these holdings.We note that the move will enhance PayPal’s position in the cryptocurrency market.
PayPal Holdings, Inc. price-consensus-chart | PayPal Holdings, Inc. Quote
Cryptocurrencies, which hold the potential to revolutionize the process of peer-to-peer and remittance transactions, are gaining significantly from a decentralized system, low fee, transparency of distributed ledger technology, protection from consumer charge backs, and quick international transfers.Additionally, the growing demand for alternative currency as a result of the ongoing pandemic remains a tailwind.All these factors are driving growth in digital currency (especially bitcoin) transactions throughout the world. Per a report from Statista, the number of daily bitcoin transactions at third-quarter 2020 end exceeded 351 million, jumping significantly from around 200 million in first-quarter 2016.Further, a report from Fortune Business Insights shows that the global cryptocurrency market is expected to hit $1.8 billion in 2027 from $754 million in 2019, witnessing a CAGR of 11.2%.PayPal is well-poised to reap benefits from the rapidly growing market on the back of its latest move and strong focus on expansion of its bitcoin facilities.
In this data-driven world, blockchain-backed cryptocurrency space has gained solid traction on the heels of an increasing bitcoin adoption, the most popular and widely used digital currency.Companies likeSquareSQ,IntelINTC,Advanced Micro DevicesAMD and NVIDIA are all making efforts to strengthen presence in this market.Coming to PayPal, the company helps merchants to accept crypto payments via partnerships with three major bitcoin payment processors — BitPay, GoCoin and Coinbase.Further, the payment processing company recently launched a service that allows its customers to buy, hold and sell cryptocurrency such as Bitcoin and Ethereum directly from their PayPal and Venmo app.Also, the company announced its intentions to enable cryptocurrency as a funding source across its 26 million merchants worldwide.We note the latest investment will continue to aid PayPal in gaining momentum among customers.
PayPal currently carries a Zacks Rank #3 (Hold). You can seethe complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportIntel Corporation (INTC) : Free Stock Analysis ReportAdvanced Micro Devices, Inc. (AMD) : Free Stock Analysis ReportPayPal Holdings, Inc. (PYPL) : Free Stock Analysis ReportSquare, Inc. (SQ) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research || What the SPAC frenzy tells us about the market and ourselves: As Wall Street flits from one craze to the next; GameStop (GME), Bitcoin (BTC-USD) and now SPACs, the message is clear. If only we could act upon it. As a way of looking into this ongoing mania of mini-manias, I’ve turned my attention to the latest boom, SPACs, once a quirky, backwater of a security, now all the rage.
Let’s start with Kap, who has a SPAC.
That being former San Francisco 49ers quarterback, Colin Kaepernick—famous for taking a knee during the national anthem—who has co-founded Mission Advancement Corp, a SPAC, (the word rhymes with ‘clack’) or special purpose acquisition corporation, also known as a blank check company.
Kaepernick’s SPACwill look to invest in companies with a social justice mission. Oscar-nominated filmmaker Ava DuVernay and Silicon Valley VC Ben Horowitz are on its board of advisors. Private equity executive Jahm Najafi, part owner of the NBA’s Phoenix Suns, is the company CEO.
Not surprisingly there’s some eye rolling.“Colin Kaepernick becomes latest athlete to join Wall Street’s SPAC craze”read the New York Post headline (and indeed Shaquille O'Neal and Alex Rodriguez also have SPACs.) And then there’sFox Business which framed itthis way: “Colin Kaepernick plans to raise $250M for social justice SPAC: The board of directors is completely made up of Black, Indigenous and people of color and represented by a female majority.” (As you might imagine, the comments are toxic.)
Politics aside, will Kaepernick’s SPAC make any sense? Will it make any money? Kaepernick does have business experience working with Nike, Medium, Apple and others, and he’s not the CEO anyway. But the truth is, and by definition, we have no idea, because as a new SPAC, Mission hasn’t invested in anything yet. So who knows.
That’s the thing about SPACs. The more you dig into them, the more you realize they’re opaque and complicated. They’re also red hot. And that’s not necessarily a great combination.
The growth has been wack.In 2019,according to SPACInsider, 59 SPACs worth $13 billion were created. Last year there were 248 worth $83 billion. And already, just six weeks into this year, there are 135 SPACs which have raised $40 billion. Many more are on tap.
We’ll get back to what that means in the big picture, but first let’s journey deeper into the nitty-gritty of SPACs.
Here’s some more basic concepts:
-A SPAC is a shell company formed to go public for the purpose of acquiring an existing companytypically within two years. It’s really a way for a company to go public without doing an IPO, (more on that later.)
-Sometimes SPAC sponsors have a target in mind, sometimes they don’t.
-Typically hedge funds and traders bought SPACs to arbitrage prices of SPAC securities (common stock, warrants and loans—trust me it’s complicated.) But now plain-vanilla investors, both professional and retail, are snapping up SPAC shares.
-SPAC shares are usually issued at $10 and used to trade around that price until a deal is announced, but during this frenzy they have been spiking on rumors. (More on that later too.)
Essentially SPACs allow sponsors to make big money—for a nominal investment they get a 20% cut of the deal—and for companies to go public. DraftKings (DKNG), Virgin Galactic (SPCE) and Nikola (NKLA) all went public through a SPAC last year. The success of DraftKings in particular served as a clarion call. In fact the volume of new SPACs is now outpacing traditional IPOs,according to this excellent graphic made by The Wall Street Journal.
As for you, Mr. and Ms. Investor, you are just along for the ride.
SPACs have been around since at least 1993,according to this great Bloomberg explainer in the Seattle Times, so why are they hot again now?
Much of it has to do with the one-off year that was 2020. “There were lots of high growth companies needing capital and the traditional IPO process, which takes twice as long anyway, is far riskier in a pandemic and an election year,” says Kristi Marvin of SPACInisder. She also notes that with a SPAC a company can shill itself by predicting forward earnings, which it couldn’t do in an IPO. “Plus, as a huge bonus,” she says, “you get to go public with a high profile, seasoned executive, like David Cote, who immediately brings a ton of value to your company.”
Ah Dave Cote. Remember him? Former CEO of Honeywell (HON), who had a great run there. As it turns out, Cote may be partly responsible for the SPAC surge. Here’s that story: Cote stepped down as CEO of HON in March 2017 and began to poke around. “Yes, I wrote a book, but I didn’t want to do what other ex-CEOs did, I wanted to do something different,” Cote tells me.
“A friend of mine who I respect suggested doing a SPAC, so I took a long hard look. Over the course of a year, I would say 80% to 90% of the people I spoke with told me not to do one. That it would hurt my reputation. And so I was careful. I didn’t want an asterisk next to my name: ‘Was CEO of Honeywell and also had this lame-ass SPAC.’ But finally I decided there was something there.”
And so Cote teamed up withJohn Waldron at Goldman Sachs, who was also exploring the idea of getting into SPACs. They took the plunge in September 2018, forming GS Acquisition Holdings Corp., with Cote as executive chairman. A little over a year later,their SPAC bought control of Vertiv, a Columbus Ohio-based provider of equipment and services for data centers, from Platinum Equity, a private equity firm run by the billionaire owner of the Detroit Pistons, Tom Gores. The stock [VRT]which dipped down to $5 in the darkness of last March, is now trading at $21.
“When we announced the deal in December of 2019, we were flooded with calls,” says Cote. “I joked with John [Waldron] that we kicked this whole thing off and no one remembers us.”
Which might be understandable given all the bold-faced names I’ve already mentioned in SPACs, along with others I haven’t like Chamath Palihapitiya, (him again), Bill Ackman, Billy Beane, Kevin Systrom,Peter Guber, Ciara, Paul Ryan,Nobel Prize–winning economist Richard Thaler,Gary Cohn, Jay Z, Dan Och, 23andMe, Softbank, SoFi, former Boeing CEO Dennis Muilenburg, Telco billionaire Crag McCaw, Elliot Management, and KKR.
Also, Adam Lashinksy ofBusiness Insider notesthat “a SPAC called Forest Road Acquisition associated with the ex-Disney execs Kevin Mayer [also ex-TikTok] and Thomas Skaggs is buying the well-regarded fitness company Beachbody...Stanford professor Fei-Fei Li and Kristina Salen, the chief financial officer of World Wrestling Entertainment, are on the team that's advising the SPAC started by the entrepreneurs Reid Hoffman and Mark Pincus.”
And there are hundreds of lesser known players too.
Andrew Ross Sorkin pretty much summed it up with the latest Wall Street zingerin his recent column“I know more people who have a SPAC than have Covid.” (Ba rump-bump.)
To be clear, celebs in a SPAC aren’t necessarily a red flag (they’re there for deal flow after all), as long as they’re matched up with a legit team. In SPACs, since there is no investment yet, the team is the thing.
Naturally there’s asubreddit for SPACs, (“Let’s Talk About SPACs, Baby”), which is, well, just what you’d imagine it to be.
And naturally there areSPAC ETFs too.“This is the first time you’re able to access private equity-like investments,” says Paul Dellaquila, president of Defiance ETFs, which launched the first SPAC-only ETF (SPAK) last October. “Even the traditional IPO process is very closed off. You and I are not going to get a Snowflake at $120 like Warren Buffett; we come in later. That’s most retail investors' experiences.”
“Are SPACs right for everybody?” asks Dellaquila. “No. If you’re 75 years old living on a fixed income trying to get 3% or 4% per year to sustain yourself, it’s not for you. Are SPACs right for the right investor? Absolutely. Young professionals looking for higher returns; it could be right for you. It is a leap of faith, and that’s why potential gains are big.”
But the leap might be getting bigger.
With money flooding into SPACs looking for companies to buy and ordinary investors driving up stock prices, risks are rising.
“In some cases there’s 100% speculation,” says Kristi Marvin. “The one that worries me the most right now isChurchill Capital[founded and run byveteran banker Michael Klein] About a month ago, it came out as a rumor that Churchill was in negotiations with Lucid Motors, an EV company, which retail investors love. And so they got all excited and pushed the stock into the $30s. Now, it's a month later, still no deal. That's crazy. It's a big question mark to me if this deal even happens. If there's no deal or Lucid is going to go public via direct listing or traditional IPO, or even with another SPAC, investors are all gonna be running through the door.”
Michael Klausner, a Stanford Law School professor who co-authored astudylast November entitled “A Sober Look at SPACs,” has an even, well, more sober view: “I think SPACs are fundamentally not a good structure by which to take a company public, therefore I think the spike in SPACs is not a good thing,” he says. Klausner cites the 20% cut taken by sponsors as just one reason. “Moreover, the glut of SPACs that will be competing for targets is not a good thing. So, I guess my conclusion is the spike in SPACs is doubly not a good thing.”
TheWall Street Journal did a piece in Novembercalling into question the performance of SPACs: “SPACs have a poor record of delivering returns. Of 107 that have gone public since 2015 and executed deals, the average return on their common stock has been a loss of 1.4%, according to Renaissance Capital, a research and investment-management firm. During the same period, the average return of companies that went public via IPOs was 49%, the firm says.”
So you might ask, where are the regulators, the SEC in particular, in all this? Former SEC commish Jay Clayton, a regulation-light kinda guy, noted that SPACs might have issues with transparency.
Ditto for formerSEC Commissioner Harvey Pittwho spoke with Yahoo Finance’s Adam Shapiro and Seana Smith this week: “I think there are questions about SPACs and their effect on the market,” Pitt said. “There are also questions about the disclosures that are made and the uses for which the funds raised are put. But in general, raising funds to acquire other companies is itself a very accepted course of conduct. And it's one that's been around for a long time, although not quite in the context we're now seeing it.” Some speculate that Gary Gensler, nominated to succeed Clayton, might take a more active position when it comes to SPACs, but that’s unknown for now.
Understand though that the SEC may not be as interventionist as some would like. “The SEC’s regulatory mandate is as a disclosure regulator rather than a merit regulator,” says Michael Piwowar, who served as a commissioner and acting chairman during his tenure at the SEC from 2013 to 2018. He now works as executive director of the Milken Institute Center for Financial Markets.
“The SEC makes no judgment as to whether it is a good or bad investment,” says Piwowar. “It often comes down to balancing two parts of the agency’s mission–protecting investors and facilitating capital formation. To gauge Gary Gensler, look to his comments during his upcoming nomination hearing and public statements early in his term.”
But if the regulators did decide to act, would they be able to act fast enough? “No matter what the policy makers do, they’re closing the barn doors after everybody has left,” says Peter Atwater, founder of research firm Financial Insyghts. “They throw water on a fire that was already going out.”
To Atwater’s mind, the collapse of SPAC mania is a “when” not “if” proposition. “The data would suggest it’s very much a very late-cycle phenomenon. I joke that the bar charts of it run the risk of looking like a middle finger by the time they’re done: Nothing, nothing, a little bit of build up, and an enormous spike. Those historically get followed by collapse. Insatiable demand is always inevitably followed by absolutely nonexistent demand. The crowd goes from wanting too much to never having it again.”
For now it’s still frothy. “I was sitting in the locker room of my golf club in Florida the other day,” says a Wall Street big shot. “And some guy yells over at me, ‘hey buddy, you got a company I can buy for my SPAC?’”
As for Kristi Marvin, she’s had to cut back the newsletter she puts out from once a week to once every two weeks. Why? “Everybody's burned out,” she says. “The lawyers, myself, the bankers, everybody's exhausted. It's so insane. When I first started the website I was covering maybe 40 SPACs and as of today, I'm covering over 500. It does make me a little nervous. We’re starting to see some deals where you're kind of like, should this team be going public?”
We always talk about what happens when these manias end. But it’s like if you’re in the trenches? “I had a little bit of PTSD,” says Martin who worked as a SPAC banker a while back. “We priced 66 deals in 2007 and 2009 there was one. I became an expert in nothing, literally overnight.”
Atwater notes too that most things of interest to SPAC investors are futuristic. “It’s EVs, space, fintech, cutting edge something that is perceived to have an enormous future to it and that is unlimited in its potential. And then you pair that with an investment vehicle that is a blank check, which itself is a very high-confidence mindset. The behavioral parallels we’re seeing in SPACs we saw on a much more narrow basis with GameStop two weeks ago. And the fact that these have overlapped is significant to me as well. It speaks to this climactic sense of frenzy.”
It’s crazy to think we all know where this is headed but there is nothing anyone can do to stop it.
This article was featured in a Saturday edition of the Morning Brief on February 13, 2021. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET.Subscribe
Andy Serwer is editor-in-chief of Yahoo Finance. Follow him on Twitter:@serwer.
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For tutorials and information on investing and trading stocks, check outCashay || Overstock Partners with Pelion Venture Partners to Oversee Medici Ventures’ Blockchain Assets: Overstock to be limited partner in blockchain fund Investor call scheduled for January 26, 2021, at 8:30 a.m. ET SALT LAKE CITY, Jan. 25, 2021 (GLOBE NEWSWIRE) -- Overstock.com, Inc. (NASDAQ: OSTK ), today announces it will be converting Medici Ventures , Inc. , its wholly owned blockchain-focused subsidiary, to a limited partnership (the “Fund”). An entity within Pelion Venture Partners , a third-party venture capital firm with a proven track record of successfully investing in early stage companies, will act as the general partner of the Fund. “Blockchain technology represents a leap forward in fundamentally changing the way we interact and transact with each other. Since 2014, we have made investments in and advocated on behalf of companies advancing blockchain technology,” said Overstock chief executive officer Jonathan Johnson. “We remain bullish on blockchain technology but are changing the way we interact with these assets. As we evaluated how to create the highest return for our shareholders, we determined it is time to partner with a seasoned venture capital firm to oversee the portfolio and make follow-on investment decisions. Pelion is the perfect firm to do this. It has blockchain and technology expertise with early stage companies and has helped guide many companies to economic success.” “We are honored Overstock selected us to maximize the value of its blockchain assets,” said Pelion Ventures founder and general partner Blake Modersitzki. “Many of these companies have real potential. We believe our team knows how to help them reach that potential.” Under the arrangement, which will close after obtaining necessary legal and regulatory approvals, Medici Ventures will be converted into a limited partnership. Overstock will be a limited partner in the Fund. After closing, the Pelion entity will have sole authority and responsibility regarding investing decisions, appointing board members of the portfolio companies, and exercising all shareholder rights for assets Medici Ventures currently holds. The Fund will have an eight-year life and a total capital commitment of $45 million. The Fund will return invested capital to Overstock first and then split profits on successful exits as set forth in the Fund’s Limited Partnership Agreement. The Fund will hold a significant minority ownership stake in tZERO Group, Inc. (“tZERO”) and Overstock will retain a direct minority equity interest in tZERO. “We have been looking for the right solution to help us maximize the value of these assets, and we are delighted to have found a skilled and knowledgeable partner in Pelion,” continued Johnson. “We believe this structure offers the best opportunity for Medici Ventures’ companies to have meaningful exits and allows Overstock executives to focus on its core ecommerce business, which realized tremendous revenue, profit, and market share growth in 2020.” Story continues Medici Ventures will discontinue providing software development and design services to its portfolio companies. As an on-going advocate of blockchain technology, Overstock will continue to accept Bitcoin as a form of payment for products purchased on its website. Investor Call The company has scheduled a conference call and webcast for 8:30am ET on Tuesday, January 26, 2021, to discuss this announcement and take questions from participants. Questions may also be submitted to [email protected] in advance. Webcast Information To access the live webcast and presentation slides, visit http://investors.overstock.com . To listen to the conference call via telephone, dial (877) 673-5346 and enter conference ID number 2918945 when prompted. Participants outside the U.S. or Canada who do not have internet access should dial +1 (724) 498-4326 and enter the conference ID provided above when prompted. Replay A replay of the conference call will be available at http://investors.overstock.com two hours after the live call has ended. An audio replay of the webcast will be available via telephone starting at 11:30am ET on Tuesday, January 26, 2021, through 11:30am ET on Tuesday, February 9, 2021. To listen to the recorded webcast by phone, dial (855) 859-2056 and enter the conference ID provided above. Outside the U.S. or Canada, dial +1 (404) 537-3406 and enter the conference ID provided above. About Overstock Overstock.com, Inc Common Stock (NASDAQ: OSTK ) / Series A-1 Preferred Stock (tZERO ATS:OSTKO) / Series B Preferred Stock (OTCQX:OSTBP) is an online retailer and technology company based in Salt Lake City, Utah. Its leading e-commerce website sells a broad range of new home products at low prices, including furniture, décor, rugs, bedding, home improvement, and more. The online shopping site, which is visited by tens of millions of customers a month, also features a marketplace providing customers access to millions of products from third-party sellers. Overstock was the first major retailer to accept cryptocurrency in 2014, and in the same year founded Medici Ventures, its wholly owned subsidiary dedicated to the development and acceleration of blockchain technologies to democratize capital, eliminate middlemen, and re-humanize commerce. Overstock regularly posts information about the Company and other related matters on the Newsroom and Investor Relations pages on its website, Overstock.com. O, Overstock.com, O.com, Club O, and Worldstock are registered trademarks of Overstock.com, Inc. Other service marks, trademarks and trade names which may be referred to herein are the property of their respective owners. About Medici Ventures Launched in 2014, Medici Ventures has been a wholly owned subsidiary of Overstock.com, Inc. created to leverage blockchain technology to solve real-world problems with transparent, efficient, and secure solutions. Medici Ventures had interests in a global keiretsu of groundbreaking blockchain-focused companies focused on building the foundation of a technology stack for civilization. Medici Ventures’ companies are introducing blockchain technology to industries including identity, land governance, money and banking, capital markets, supply chain, and voting. The company’s majority-owned financial technology company, tZERO, executed the world’s first blockchain-based stock offering in December 2016. About Pelion Ventures Partners Pelion is an early stage technology venture capital firm with a national track record of investing in software-based businesses that manage the exponential growth in the movement of information, or “bits,” across wired and wireless networks. Founded in 1986, Pelion has been a partner to leading technology innovators CloudFlare, Fusion-io, MX Logic, RedHat, and Riverbed. More at www.pelionvp.com. Cautionary Note Regarding Forward-Looking Statements This press release contains certain 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. Such forward-looking statements include all statements other than statements of historical fact, including but not limited to statements regarding the closing of the arrangement with Pelion and expectations with respect to the performance of Pelion and the Fund. No assurance can be given that regulatory approval will be granted and the arrangements with Pelion will be consummated. Additional information regarding factors that could materially affect results and the accuracy of the forward-looking statements contained herein may be found in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2019, which was filed with the SEC on March 13, 2020, in our Form 10-Q for the quarter ended March 31, 2020, which was filed with the SEC on May 7, 2020, in our Form 10-Q for the quarter ended June 30, 2020, which was filed with the SEC on August 6, 2020, in our Form 10-Q for the quarter ended September 30, 2020, which was filed with the SEC on November 5, 2020, and in our subsequent filings with the SEC. Contacts Investor Relations: Alexis Callahan 801-947-5126 [email protected] Media Relations: Megan Herrick 801-947-3564 [email protected] Method Communications 801-461-9781 [email protected] View comments || Stock ETFs Relinquish Gains Amid Capitol Protest And Lockdown: This article was originally published on ETFTrends.com. After approaching all-time highs, stocks and index ETFs are tumbling this afternoon, amid wild volatility, and even anarchy, as Vice President Mike Pence was ushered out of the Senate and the U.S. Capitol Complex was placed under lockdown as a result of an external security threat, while Trump supporters rioted outside the building. The Dow Jones Industrial Average had climbed as much as 1.7%, pegging an all-time intraday high, while the S&P 500 popped 1.1% to notch a record as well. The Nasdaq Composite is slipping lower meanwhile, after dropping over 1%, dragged down by Big Tech names like Amazon and Microsoft. Major stock ETFs are attempting to avoid relinquishing their gains on Wednesday afternoon as investors weigh the runoff election possibilities, and digest the anarchy in the Capitol. The SPDR Dow Jones Industrial Average ETF (DIA) , SPDR S&P 500 ETF Trust (SPY) , are still positive on the day, while while the Invesco QQQ Trust (QQQ) is down over 0.25% as of almost 3PM EST. A member of the Senate told NBC News that Vice President Pence and Sen. Charles Grassley, the president pro-tem, have been taken to a secure location. The Senate doors are closed and locked, and senators have been warned to avoid heading toward the doors. Coming After A Coup The move came amid lawmakers conveying to commence the historic process of tallying the Electoral College votes and formally declaring President-elect Joe Biden the winner. “This is a coup attempt.” Rep. Adam Kinzinger, an Illinois Republican tweeted in the midst of the chaos. Earlier, President Trump, during a rally, incited thousands of his supporters to march on the Capitol to protest the confirmation of Biden’s victory. The chanting crowds subsequently rushed the Capitol, attacking police and frightening trapped lawmakers. The Cannon House Office Building and Madison Building were evacuated earlier in the day. Occupants that were evacuated from Cannon, on the House side of the Capitol, had been given clearance to re-enter the building. Story continues Meanwhile, inverse index ETFs like the Direxion Daily S&P 500 Bear 1X (SPDN), that had been down on the day are quickly gaining ground, amid the activity. 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 Stock Index ETFs Gain For Third Day As Political Tensions Abate Small-Cap, Value ETFs Rally on More Stimulus Bets Stock ETFs Relinquish Gains Amid Capitol Protest And Lockdown Bitcoin ETF Back In Play As The Crypto Continues To Surge Stock ETFs Rally For Second Day Amid Runoff Results READ MORE AT ETFTRENDS.COM >
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: no change || Prices: 48824.43, 49705.33, 47093.85, 46339.76, 46188.45, 45137.77, 49631.24, 48378.99, 50538.24, 48561.17
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2020-07-17]
BTC Price: 9151.39, BTC RSI: 45.34
Gold Price: 1808.30, Gold RSI: 61.63
Oil Price: 40.59, Oil RSI: 58.51
[Random Sample of News (last 60 days)]
These Were The Most Active Securities On OTC Markets In April: After weathering a historically volatile month in March , trading activity on OTC Markets abated somewhat in April, reflecting a relative calmness in market conditions compared to the previous month. Trading volume on OTC Markets decreased in April, and nearly all of the market’s most actively traded securities experienced month-over-month volume declines as market volatility normalized a bit during the month. Volume on the OTCQX Market—the top tier of OTC Markets— fell 37% in April, while volume on the OTCQB Venture Market decreased 24%. On an individual company level, nearly all of the most actively traded securities on OTC Markets experienced lighter dollar volume in April than in March, a likely result of lower share prices combined with lower volatility. This includes names like Roche Holding Ltd (OTCQX: RHHBY ) (down 39%), the Grayscale Bitcoin Trust (OTCQX: GBTC ) (down 21%), and Adidas AG (OTCQX: ADDYY ) (down 70%). Of the 30 most-traded securities on the OTCQX Market, only Air Canada (OTCQX: ACDVF ) (up 38%) and New Pacific Metals Corp. (OTCQX: NUMF) (up 27%) saw a dollar volume increase in April, while Cresco Labs Inc. (OTCQX: CRLBF ) was flat month-over-month. On the OTCQB Venture Market, CytoDyn Inc. (OTCQB: CYDY ) was the most actively traded security on the market for the first time on record, as dollar volume in the issuer increased 191%. This massive increase is most likely related to the company’s Leronlimab, which is currently in the Phase 2 testing period to potentially treat severely-ill COVID-19 patients. Shares of CytoDyn were so actively traded during April, that they accounted for nearly half of all dollar volume on the entire OTCQB Market. Below are the top 10 most actively traded securities on the OTCQX and OTCQB Markets in April. OTCQX Roche Holding Ltd RHHBY $2,615,581,174 Grayscale Bitcoin Trust GBTC $760,608,164 Danone DANOY $574,453,094 BNP Paribas BNPQY $205,399,081 adidas AG ADDYY $154,774,466 Infineon Technologies AG IFNNY $143,502,849 AXA AXAHY $137,990,439 Heineken N.V. HEINY $108,282,669 BASF SE BASFY $101,093,324 Anglo American plc NGLOY $96,483,869 OTCQB CytoDyn Inc. CYDY $612,566,094 Fannie Mae FNMA $167,514,566 Freddie Mac FMCC $70,217,890 Semler Scientific, Inc. SMLR $17,035,296 Kraig Biocraft Laboratories, Inc. KBLB $15,406,687 Innovation Pharmaceuticals Inc. IPIX $11,881,969 CV Sciences, Inc. CVSI $11,114,943 Algernon Pharmaceuticals Inc. AGNPF $9,325,406 Northwest Biotherapeutics, Inc. NWBO $7,364,351 Nextech AR Solutions Corp. NEXCF $5,945,239 Story continues See more from Benzinga Australian Mining And Technology Metals Companies Set To Take Stage At Investor Conference Big Banks: Playing A Rebound Within The Financial Sector A Potentially Profitable Options Trade In Shopify © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || With Arweaves Lazy Approach to Smart Contracts, Its Version of Web3 Does More: Decentralised storage network provider Filecoin announced the launch of the Incentivized Testnet, the final phase of testing for its decentralized storage network, on Wednesday. In a press statement emailed to CoinDesk, the firm said that this precedes its expected main network launch this summer. Developed by Protocol Labs, Filecoins storage network aims to provide a safeguard against the risk of a single point of failure for data storage by using a decentralised network. Filecoin was also behind one of the major ICOs in 2017 when it raised more than $257 million . According to the firm, the top 100 miners globally as well as the top 50 miners in each continent are promised filecoin tokens, depending on how much storage they contribute and the overall size the storage network is able to achieve. Beyond growing its network, the incentive is designed to determine how robust its infrastructure really is. The incentive competition will stress test the Filecoin protocols ability to onboard massive amounts of storage in a very short timeframe, said Ian Daarow, head of operations at Filecoin, in an emailed statement. Read More: Filecoin Is Mailing Out Hard Drives of Climate Data to Kick-Start Its File-Storage Network Regarding security concerns that may arise around storing data on a decentralized network, Darrow said that although the network was targeted towards distributing publicly accessible data, such as image or video sharing, users who wish to store data privately could encrypt it prior to storing it on the network. When it comes to consumer adoption, we expect this data security layer to be handled by application developers building on top of Filecoin, added Darrow. Related: Filecoin Prepares for Network Launch With Final Testing Phase According to a recent blog post on its website, Filecoin is expected to launch its main network between July 20 and August 21. The firm expects the final phase of testing to last about three weeks, and expects that it would help prepare the network to store large amounts of user data. Story continues Filecoin kick-started the process of onboarding miners last month, when it emailed hard drives containing climate data, literature or human genome information out to future network participants. Related Stories Schlesi Testnet Is Latest Step in Long Road Toward Eth 2.0 Coder Proposes Alternative to Bitcoins Notoriously Unreliable Testnet || The Crypto Daily – Movers and Shakers – June 28th, 2020: Bitcoin fell by 1.72% on Saturday. Following on from a 0.91% decline on Friday, Bitcoin ended the day at $9,015.3. It was a mixed start to the day for Bitcoin. In the early hours, Bitcoin dipped to a low $9,120.0 before rising to a mid-morning intraday high $9,202.5. Falling short of the first major resistance level at $9,296.7, Bitcoin tumbled to a late intraday low $8,855.0. The sell-off saw Bitcoin fall through the first major support level at $9,051.8 and second major support level at $8,930.5. Finding late support, Bitcoin moved back through the second major support level to wrap up the day at $9,000 levels. The 23.6% FIB of $8,900 had limited the downside on the day. The near-term bullish trend remained intact in spite of the recent pullback to sub-$9,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend. The Rest of the Pack Across the rest of the majors, it was also a bearish day on Saturday. Bitcoin Cash SV (-8.25%), EOS (-6.01%), and Tezos (-6.81%) led the way down. Binance Coin (-4.00%), Bitcoin Cash ABC (-5.85%), Litecoin (-4.67%), Ripple’s XRP (-4.14%), and Stellar’s Lumen (-5.73%) also saw deep red. Cardano’s ADA (-3.86%), Ethereum (-3.79%), Monero’s XMR (-3.59%), and Tron’s TRX (-1.97%) saw relatively modest losses on the day. Through the current week, the crypto total market cap rose to a Monday high $272.54bn before falling to a Saturday low $245.07bn. At the time of writing, the total market cap stood at $248.82bn. Bitcoin’s dominance slid to a Wednesday low 65.52% before jumping to a Saturday high 66.68%. At the time of writing, Bitcoin’s dominance stood at 66.30%. This Morning At the time of writing, Bitcoin was down by 0.42% to $8,977.0. A bearish start to the day saw Bitcoin fall from an early morning high $9,016.0 to a low $8,970.2. Bitcoin left the major support and resistance levels untested early on. Story continues Elsewhere, it was also a bearish start to the day for the broader market. Bitcoin Cash SV (-1.02%), Stellar’s Lumen (-1.66%), Tezos (-1.03%), and Tron’s TRX (-1.18%) led the way down early on. For the Bitcoin Day Ahead Bitcoin would move through the $9,025 pivot to support a run at the first major resistance level at $9,193.53. Support from the broader market would be needed, however, for Bitcoin to break out from $9,100 levels. Barring an extended crypto rebound, the first major resistance level and Saturday’s high $9,202.5 would likely cap any upside. In the event of a crypto breakout, Bitcoin could test the second major resistance level at $9,371.77. Failure to move through the $9,025 pivot level could see Bitcoin struggle later in the day. A fall back through the 23.6% FIB of $8,900 would bring the first major support level at $8,846.03 into play. In the event of another extended crypto sell-off, the second major support level at $8,676.77 may be tested. This article was originally posted on FX Empire More From FXEMPIRE: Unilever Latest Advertiser to Jump Ship on Facebook, Twitter Amid ‘Polarized Atmosphere’ in US European Equities: A Week in Review – 27/06/20 EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – June 27th, 2020 Crude Oil Price Update – Closed in Position to Challenge Major 50% Level Support at $37.50 Natural Gas Price Prediction – Prices Slip but are Poised to Test Lower Levels US Stock Market Overview – Stocks Drop Led by Financials Following Fed Stress Test || What the Stock Market’s ‘Robinhood Rally’ Means for Bitcoin: A 20-year old California resident was charged Monday by the U.S. Department of Justice with allegedly participating in a SIM-swapping scam that defrauded Apple and stole one victim’s cryptocurrency. Richard Yuan Li, a student at University of California-San Diego, is accused of one count of conspiracy to commit felony wire fraud in connection with the scheme, which hit 19 victims and successfully plundered a “significant portion” of crypto from one, a New Orleans doctor, according to the allegations. The DOJ filed its charges against Li in the U.S. District Court for the Eastern District of Louisiana. Related: US Officials Allege Student Defrauded Apple as Part of SIM Swap Attack It is not clear how much crypto Li and conspirators allegedly stole from the unnamed doctor. According to case filings , the victim had accounts with Binance, Bittrex, Coinbase, Gemini and Poloniex, among others. At one point, one conspirator attempted to extort the victim for 100 bitcoin. How the alleged SIM swap went down, however, is abundantly clear. Li and his conspirator first tricked an Apple representative into sending them an iPhone 8, “arranged for victims’ telephone numbers to be swapped” to that phone, and then bypassed their target’s security measures to gain access to files, prosecutors claim. Prosecutors allege Li participated in at least 28 SIM swaps between October 2018 and December 2018. They further allege the actions amount to federal crimes because the SIM swaps transmitted signals across state lines and are therefore subject to the interstate commerce clause of the U.S. Constitution. If convicted, Li could face a five-year sentence and $250,000 fine. Related Stories BlockFi Says Hacker SIM-Swapped Employee’s Phone, No Funds Were Lost For Contact Tracing to Work, Americans Will Have to Trust Google and Apple Europe Debates COVID-19 Contact Tracing That Respects Privacy || Human Rights Foundation Funds Bitcoin Privacy Tools Despite ‘Coin Mixing’ Legal Stigma: An unknown wallet holder mistakenly, it seems, sent a $2 million transaction fee on the Ethereum blockchain, Elrond is testing its network in a “trial by fire” and Libra’s Dante Disparte thinks governments entering the stablecoin race is good for Libra. Here’s the story: You’re reading Blockchain Bites , the daily roundup of the most pivotal stories in blockchain and crypto news, and why they’re significant. You can subscribe to this and all of CoinDesk’s newsletters here . Top shelf Libra’s Future Libra’s initial prospectus and subsequent redesign has left its imprint on the world. Some 70% of central banks are researching a national digital currency, a fact that Dante Disparte, head of policy and communications at the Libra Association, thinks is good for the Libra project and its mission. “I think there would be nothing better for the world and for poverty alleviation if, in fact, we started to trigger a bit of a space race on compliance to address the 1.7 billion people who are unbanked and underbanked,” he said. “So from my point of view, there is no monopoly on this work. Let others enter this process and let the race begin.” CoinDesk’s Ian Allison takes a deep dive into where Libra stands in midst of the “digital dollar space race.” Institutional Investors Fidelity Digital Assets found the number of U.S. institutional investors buying crypto derivative products jumped significantly in 2020. In a survey the subsidiary found “22% of U.S. respondents invested in digital assets have exposure via futures, which is a substantial increase relative to 9% of U.S. investors surveyed in 2019,” while 80% of investors surveyed have found “something appealing about the asset class.” Separately, Bakkt and Galaxy Digital plan to partner to offer a “white glove” trading and custody solution targeting institutional investors this year. Galaxy will provide all the trading services and functionalities, while Bakkt will repurpose part of its Bakkt Warehouse as the service’s custody solution. Building Blocks Elrond, a proof-of-stake blockchain, is offering up to $60,000 to node-runners and white-hat hackers to find bugs and vulnerabilities in a trial-by-fire test of the network. Separately, Band Protocol 2.0 launched Wednesday with its mainnet oracle solution, BandChain, leveraging the Cosmos SDK. The project’s revamp comes 10 months after listing as an initial exchange offering (IEO) on Binance Launchpad and a $3 million 2019 seed round led by Sequoia India. Story continues Investments Hacker Noon, a tech publication with 4 million monthly readers, has closed a $1 million strategic investment from micropayments firm Coil, a blockchain-agnostic product built on the Interledger protocol and headed by former Ripple CTO Stefan Thomas. The publication will integrate Coil’s Web Monetization technology to pay Hacker Noon writers based on their screen time. Financial Products London-based investment firm ETC Group plans to list a bitcoin-backed exchange-traded product (ETP), called the Bitcoin Exchange Traded Crypto (BTCE), on Deutsche Borse’s Xetra market. This would be the world’s first centrally cleared derivative crypto asset. Meanwhile, Bitwage, a crypto payroll provider, has added USDC support to its platform. Related: Blockchain Bites: Libra’s Future, Elrond’s ‘Trial by Fire’ and LocalBitcoins’ Volume Ill-Gotten Gains? Just before 10:00 UTC Wednesday, an unknown wallet holder sent 0.55 ether (around $133) with a 10,666 ETH transaction fee – currently worth just under $2.6 million. The fee went to Chinese mining group Spark Pool – which ordinarily would have averaged around $0.50 – that now says it has frozen the payout to miners in its pool. Elsewhere, a 20-year old California resident was charged Monday by the U.S. Department of Justice with allegedly participating in a SIM-swapping scam that defrauded Apple and stole an unknown amount of cryptocurrency from one victim. Movers & Shakers Brian Brooks sold $4.6 million Coinbase stock options when he left the exchange to become interim head at the Office of the Comptroller of the Currency (OCC). Since taking office Brooks has already publicly suggested a federal payments charter for fintech companies, asked state and local governments to consider lifting COVID-19 lockdowns to protect the banking system and published a request for public input on how banks look at crypto. In an interview with CoinDesk’s Nikhilesh De, Brooks said, “My job here is not to protect incumbents, and it’s not to preserve the status quo.” He also thinks DeFi is the most exciting corner of crypto today. Blockchain Voting Residents of Moscow will have the option to cast votes electronically in Russia’s upcoming national referendum on its constitution, and have their votes recorded on Bitfury’s open-source enterprise blockchain, Exonum. Sources close to the matter say Moscow’s Department of Information Technologies tapped Kaspersky Lab, an anti-virus software vendor turned blockchain consultant, to build this technical solution. Opinion The Crypto Community Needs to Stand Up and Fight Racism Robert Greenfield, CEO of Emerging Impact, takes a moment to reflect on the crypto industry’s response to the death of George Floyd and subsequent protests around the country. Whereas other corporations and public figures working in the broader tech industry have taken a stance against police brutality and economic injustice, the crypto community has been mostly silent. “The crypto community is conveniently selective about what aspects of society it wants to change,” Greenfield said. Bitcoin Doesn’t Take Sides: Why Apolitical Solutions Are the Internet’s Future Preston Byrne, partner in Anderson Kill and a CoinDesk columnist, sees another side of the culture war. In an op-ed examining censorship and the future of Section 230, Byrne thinks the winners will likely be apolitical. “Companies that build politics-free solutions will be the future of the internet. Not because such products have the right opinions about their users, but because they have no opinions at all,” he said. Market intel Profitable Coins Over 16 million BTC out of the total circulating supply of 18.4 million, or 87%, is currently making gains. The metric, an obscure data point called percentage of bitcoin’s circulating supply in profit, is calculated by looking at the ratio of coins with a value that is higher now than when they were last moved, and signals a coming bull run. “Historically, levels of 90% and higher have clearly marked pronounced bull markets,” Glassnode said in a weekly report. Playing it Loose Officials in the U.K., Europe and New Zealand may push interest rates below zero as a form of economic stimulus. And bitcoin might be a beneficiary of looser monetary policy outside the U.S., even if the Federal Reserve never joins its foreign counterparts. While central banks’ dalliances with negative interest rates in the mid-2010s didn’t seem to affect bitcoin’s price, a current market capitalization roughly 20 times levels in 2014 and an increasing correlation with the broader market may see people turning to bitcoin as a hedge against increasing consumer prices. Get the full First Mover analysis in your inbox. Strictly Not Stifled LocalBitcoins’ ban on cash transactions and stricter identity verification has not appeared to stifle the peer-to-peer exchange’s business. LocalBitcoins’ volume is down 27% over the past 12 months and up almost 40% for the year to date. Compared to reported volumes of 12 months ago, OKEx and Coinbase have seen volume drop by approximately 30% and 45%, respectively, according to data from Nomics. Since January, however, the two exchanges’ volumes have grown by roughly 2,500% and 800%, respectively. The Breakdown What the Stock Market’s ‘Robinhood Rally’ Means for Bitcoin The largest 50-day rally in stock market history and even shares of bankrupt companies are up more than 100%. NLW asks and answers: What is going on? Who won #CryptoTwitter? Related Stories Blockchain Bites: Coinbase Surveillance, Bitcoin Wargames, CoinMarketCap Drama Blockchain Bites: Why UN and Federal Reserve Experts Think CBDCs Could Kill Commercial Banking View comments || Bitcoin News Roundup for June 12, 2020: Russia’s Supreme Court for the first time used a blockchain-based system to record votes in a plenary session on Friday.
According to apress release, judges used thePolysapp from Kaspersky Lab to record the results of voting on six issues before the court. The session was the latest to take place as a web video conference as part of Russia’santi-coronavirus measures.
“This voting system is based on a blockchain and is using transparent encryption,” the press release says, adding that the system received a “high appraisal” from the judges of the Supreme Court in the “landmark” vote. The system has been recommended for use in the next plenary session in July.
The Supreme Court’s press office did not respond to CoinDesk’s request for further information by press time.
Kaspersky has been expanding its presence in the blockchain space recently, and is also assisting a project forblockchain-based voting in Moscow. According to a2017 announcementfrom the cybersecurity company,
Polys is based on Ethereum and was developed with help from Parity Technologies, a tech startup launched by Ethereum co-founder Gavin Wood.
“Blockchain is increasingly being implemented by a vast number of industries and we believe that decentralising the voting procedure will ensure a fair process and create a high level of trust in the system,” said Parity co-founder Jutta Steiner.
Related:Russia’s Supreme Court Makes ‘Landmark’ Vote With Blockchain System From Kaspersky Lab
Kaspersky pledged to open source the Polys code back in 2017, however, the project’sGitHub pageis still currently empty. Kaspersky did not immediately comment by press time.
• Moscow Said to Hire Kaspersky to Build Voting Blockchain With Bitfury Software
• Illegal Miners in Russia Stole $6.6M Worth of Electricity, Power Grid Firm Says || Massive Twitter Hack Hits Buffett, Bezos, Musk and More: A number of high-profile Twitter ( TWTR ) accounts were the subject of a massive hack Wednesday afternoon in what appears to be a Bitcoin scam targeting verified users. At 4:17 p.m., the account of Tesla ( TSLA ) CEO Elon Musk tweeted out a message asking people to send him a payment in Bitcoin, and in return, he would return double that amount: “I‘m feeling generous because of Covid-19. I’ll double any BTC payment sent to my BTC address for the next hour. Good luck, and stay safe out there!” 50 Top Stock Picks That Billionaires Love The tweet was deleted minutes later, but it was replaced by another similar one: Over the next hour, a number of other major accounts were targeted, including Microsoft ( MSFT ) founder Bill Gates, who tweeted out a message with the same Bitcoin wallet address as the second Musk tweet. Among the other accounts that appear to have been hacked: Former President Barack Obama Presidential candidate Joe Biden Berkshire Hathaway ( BRK.B ) CEO Warren Buffett Amazon.com ( AMZN ) CEO Jeff Bezos Rapper Kanye West Boxer Floyd Mayweather The official Apple ( AAPL ) Twitter handle Former New York City mayor Michael Bloomberg Digital currency exchange Coinbase Twitter has written on its support account that "We are aware of a security incident impacting accounts on Twitter. We are investigating and taking steps to fix it. We will update everyone shortly." The company reportedly stopped verified accounts from being able to tweet as it investigated the situation. Later Thursday, Motherboard reported that, according to leaked screenshots and a pair of anonymous sources, a Twitter insider gave the hackers access. "We used a rep that literally done all the work for us," one source told Motherboard. Twitter later confirmed that they thought insiders facilitated the attack. 14 Best Tech Stocks That Aren't on Your Radar "We detected what we believe to be a coordinated social engineering attack by people who successfully targeted some of our employees with access to internal systems and tools," the company tweeted. "We know they used this access to take control of many highly-visible (including verified) accounts and Tweet on their behalf. We’re looking into what other malicious activity they may have conducted or information they may have accessed." Story continues Users of the social media platform are strongly advised not to send payments to any wallet addresses seemingly associated with the Twitter hack. TWTR shares were down 3% in after-hours trading in response to the developing event. 19 of the Best Stocks You've Never Heard Of || Trio of Bitcoin Tokens Lures DeFi Yield Farmers to New Pastures: The number three decentralized finance (DeFi) application, Synthetix, is also enjoying the current boom times in bankless banking.
(Warning: This post is going to go a lot of places, so buckle in.)
Synthetix is a platform for minting and exchanging synthetic tokens that mirror the price of other assets. On June 19, Synthetix joined the Ren Project and BitGo in creating a pool of bitcoin-backed tokens, for smooth liquidity between three crypto products that should be all but interchangeable. Plus, each of the DeFi platforms is promising token rewards in order to get more participation in the pool.
Related:DeFi Platform Opyn Launches Put Options on Compound Token
This pool of sBTC, renBTC and WBTClives on Curve, an automated market maker that has extremely low price slippage thanks in part to its specialization in stablecoins.
Note: The three versions ofBTCare distinct. WBTC is minted by BitGo, which serves as a centralized custodian; renBTC is minted with a trustless smart contract; and sBTC never touches BTC – it is synthetic, backed by an 800% collateralization of Synthetix Network Token (SNX).
The promotion will run till Sept. 28. And though it startedon June 19, the hockey stick growth on Synthetix only got going on June 22.
In short, Synthetix appears to have successfully attracted the itinerant and growing horde ofyield farmers, each doing their best to outrun the coming DeFi dust bowl.
Related:Market Wrap: Bitcoin Tests $9K as Market Struggles With Uncertainty
Read more:Some Numbers That Show Why Yield Farming COMP Is So Seductive
There are many incentives to joining the pool on Curve. Participants will split up a weekly award of 10,000 SNX and 25,000 REN, plus BAL from a liquidity pool of REN and SNX that the two teams made. Users also get promises for CRV, the forthcoming governance token from Curve.
The new interest in Synthetix has strengthened its position relative to Compound and MakerDAO, the top two DeFi protocols. Synthetix has never previously had more than $200 million in assets on the application. As of this writing, it has an all-time high of $263 million,according to DeFi Pulse.
That said, it’s unclear how much of that is due to this specific promotion. SNX is the asset one stakes to use Synthetix, and its price is at$1.88as of this writing, up from $1.15 before the promotion began.
“I think there is a general surge in DeFi awareness and this new incentive taps into a number of aspects of it. BTC on ETH, yield farming and AMMs,” Kain Warwick, founder of Synthetix, told CoinDesk via email. “So I think they are probably somewhat related but it is always hard to pinpoint a specific reason for a sudden spike in project awareness.”
Read more:RenBTC Quietly Goes Live in Latest Bid to Bring Bitcoin to Ethereum
The promotion has also benefited Ren, whose renBTC token went liveon May 22.
“We’ve seen a large growth in volume on Ren this week,” Ren CEO Taiyang Zhang told CoinDesk in an email. “Since launch a few weeks ago we’ve had $19 million volume flow through RenVM and over $8 million locked up now. $15 million in volume is from the last week, with users mostly tokenizing BTC.”
The promotion is not the whole story for Ren, however; DeFi is experiencinga rising tide moment.
“Seems like COMP mining created a large demand for WBTC and renBTC is the easiest on-ramp into it via the Curve pool,” Zhang added.
Users just need to deposit any of the three Ethereum-based versions of BTC onto Curve’s BTC pool, and then account for their contribution on Synthetix. The new pool currently shows a daily USD volume of $774,577 or 83.18 BTC.
“This pool does a great deal of stabilizing sBTC price which is very valuable for Synthetix, as well as makes it possible to enter the Synthetix ecosystem right from Bitcoin – very valuable for both REN and Synthetix,” Michael Egorov of Swiss Stake, the company behind Curve, explained to CoinDesk in an email.
• Trio of Bitcoin Tokens Lures DeFi Yield Farmers to New Pastures
• Trio of Bitcoin Tokens Lures DeFi Yield Farmers to New Pastures || Bybit Launches Fiat Onramp as Bitcoin Institutional Interest Skyrockets: Bybit has become one of the first pure-play crypto derivatives exchanges to allow users to buy cryptocurrency with fiat. Thanks to a partnership with payment providers Banxa and Xanpool, Bybit users can now purchase cryptocurrency with credit or debit cards, or via bank transfer, directly on the platform. Over 20 different fiat currencies are supported, enabling the purchase of Bitcoin (BTC) or Ethereum (ETH.)
Before now,Bybitusers wanted to trade cryptocurrency perpetual swaps on the platform had to use a separate fiat onboarding service such as Coinbase or Changelly to convert their fiat currencies to cryptocurrency before they could deposit on Bybit. Therefore, the introduction of a fiat on ramping service represents a significant reduction of friction for users coming to Bybit without an existing portfolio of cryptocurrencies.
In a press release accompanying the announcement, Bybit CEO Ben Zhou said: “Adding fiat-crypto support is another major milestone in our roadmap, and a major coup for Bybit traders who have been patiently waiting for this day to arrive.”
The company is marking the occasion with a promotional giveaway of Bitcoin. Users who take advantage of the new fiat onboarding service will be rewarded with $10 worth of BTC for every $100-worth of BTC or ETH they purchase, up to a maximum of $50 worth of BTC. The promotion runs until July 22.
Bybit has been enjoying steady growth since it launched as a rival to market leader BitMEX in 2018. The company has launched several new products and features in 2020 alone. These include a range of perpetual swap contracts backed by stablecoin Tether (USDT), which offer increased hedging opportunities for traders.
Reducing friction and increasing hedging opportunities are two ways that Bybit is helping to attract institutional investors, such as JPMorgan (NYSE:JPM) or Citigroup (NYSE:C) to the cryptocurrency space. Strategies like these appear to be working. A recentsurveyreleased by Fidelity Digital Assets (NYSE:FIS) found that, of 800 US and European investors, 80% believed there was “something appealing” about having digital currencies as part of their portfolio. 36% are currently invested, and six out of ten respondents said they believed that digital assets have a place in their portfolio.
Among these investors, interest in cryptocurrency derivatives appears to be growing rapidly. Of those investors who have already bought into cryptocurrencies, 22% are trading derivatives, up from just 9% from the same survey in 2019.
This interest is reflected in both trading volumes and open interest in crypto derivative products. According to a recent cryptocurrency exchangereport from CryptoCompare, trading volumes of cryptocurrency derivatives hit an all-time high in May 2020, totaling $602 billion.
There appears to be a particular interest in options products. Data fromSkew, a leading cryptocurrency trading data aggregator, supports this, showing that open interest in Bitcoin options is currently soaring.
Source: Skew
So what’s driving the interest in cryptocurrency options? It’s likely to be institutional investors. Trading cryptocurrency futures comes with significant risk, due to the volatility of cryptocurrencies, along with the opportunity to trade at high leverage. The increasing availability of crypto options offers a familiar way for investors to hedge against losses incurred in futures trading.
Crypto exchanges are responding well to this demand for hedging opportunities. Bybit’s mutual insurance is one example, while other exchanges such as OKEx have expanded their product range into options, in response to demand. It seems that as the crypto markets are maturing, more professional investors are likely to enter the space, creating a self-fulfilling cycle of institutional adoption.
Disclosure: None. || Koine adds Panxora crypto treasury management services: Post-trade custody and institutional settlement platform Koine has partnered with Panxora to provide dedicated cryptocurrency treasury management services to its clients. Panxora’s solution hedges against cryptocurrency volatility while allowing clients to retain total control over their portfolio as they are held in their own Koine custodial account. The service operates like a classic segregated managed account and works with the a number of liquid cryptocurrency exchanges in conjunction with Koine’s post-trade settlement solution, which is designed to minimise credit and counterparty exposure. Licensed by the UK’s Financial Conduct Authority as an Electronic Money Institution for the issuance of electronic money, Koine is specifically designed for institutional investors to mitigate counterparty, insolvency and credit risks of trading on exchanges. Koine has also adopted a unique security model that deploys Digital Airlocks, which replaces cold storage and hot wallet model that they deem to to be insecure Gavin Smith, chief executive of cryptocurrency group Panxora, sees the rumored PayPal crypto move as providing bitcoin with a genuine use case. #PayPal # Bitcoin #Panxora # BTC # Gavin_Smith # CEO # cryptocurrency # crypto URL: https://t.co/68OStVjVTv — Panxora (@PanxoraCrypto) June 25, 2020 Koine’s CEO and Chairman Hugh Hughes hailed the partnership with Panxora as a major step forwards for the company in its mission to safeguard clients’ assets. “From Koine’s inception, our main focus was the protection of digital assets, which is why we’re working with independent services like Panxora to support institutions in managing their funds in the most secure way possible.” Hughes commented. Story continues “We will continue to work with various third-parties, including tax reporting, margin and lending, to ensure all our clients’ needs are accounted for.” Gavin Smith, CEO at Panxora, added: “As the cryptocurrency markets mature, governance will become a key differentiator for companies operating in this space. Working with Koine allows Panxora to offer our clients an integrated solution that actively manages their market risk in a very volatile asset class while protecting their assets from counterparty risk that would usually be a key concern in this sector.” For more news, guides and cryptocurrency analysis, click here .
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 9159.04, 9185.82, 9164.23, 9374.89, 9525.36, 9581.07, 9536.89, 9677.11, 9905.17, 10990.87
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Trading the rally: 5 stocks to buy: Traders saw a lot of bright spots in the market's record-breaking rally on Thursday.CNBC "Fast Money" trader Guy Adami said Thursday that two stocks in particular are attractive plays.
"Palo Alto Networks(NYSE: PANW), all time high. Look at the move in FireEye(NASDAQ: FEYE). Proof point: there are pockets of stocks that continue to work here," Adami said.
Trader Steve Grasso also eyed both stocks. "It's going one way, it's going north. These are names you have to hold your nose and just buy them," he said.
Shares of Palto Alto are up about 50 percent year-to-date. FireEye stock is also up 70 percent from the beginning of the year.
Trader Tim Seymour focused his attention on the transports Thursday, examining Kansas City Southern(NYSE: KSU)and CSX(NYSE: CSX)in particular. He said that Wednesday's dovishFedstatement "means the transports can continue to run."
"A lot of these guys were going through pricing issues, but commodity prices are now starting to bottom. The valuations here are very interesting," he said.
Read MoreBillionaire sees opportunities in asset bubbles
Trader Brian Kelly said on Thursday that he bought shares of Microsoft(NASDAQ: MSFT)as a result of the market rally.
"It has a 3 percent dividend yield. It's a big cap tech, exposed to the world, and would do well under a weaker dollar; so, for me, that's the trade you do here," he said. "That's why people, I think. were piling into the Nasdaq(NASDAQ: .NDX)."
Disclosures:
Tim Seymour
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.
Brian Kelly
Brian Kelly is long BABA, BBRY, BTC=, EEM, Euro, MSFT, NOC, SPY, TAN, TSL, Yen; he is short Dollar and Yuan. Today he bought MSFT, NOC, and SPY.
Guy Adami
Guy Adami is long CELG, EXAS, INTC, Guy Adami's wife, Linda Snow, works at Merck.
Steve Grasso
Steve Grasso is long AAPL, BAC, DD, DECK, EVGN, MJNA, PFE, T, TWTR, GDX firm is TWTR, AXP, AMD, AMZN, IBM, MCD his kids own EFG, EFA, EWJ, IJR, SPY.
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• Personal Finance || IBM To Change Its Role In Healthcare: International Business Machines Corp. (NYSE: IBM ) has long provided hospitals and medical centers with computers and operating systems that help track patient data, organize information and help smooth out the chaotic daily operations healthcare professionals face. However, the company appears to be expanding its role in the healthcare space in order to solve medical problems as well as operational ones. IBM is planning to acquire Merge Healthcare Inc (NASDAQ: MRGE ), a medical image storage company, in a deal which will allow IBM to extend its reach a bit further. Artificial Intelligence IBM is planning to use Merge's massive database of X-ray, MRI and other images to create a system that will aid doctors in diagnosing patients quickly and correctly. In order to do this, IBM will use deep learning, a technique used to power things like voice recognition and fraud detection. Computers are given a huge amount of data to sort, and by doing that the machine is able to learn patterns and use them for future detection. IBM believes that this type of system would allow its computers to detect things like tumors or heart disease. Related Link: An Industry You Probably Didn't Know Was Digitized: Agriculture Risks While the idea is promising, IBM will face a lot of hurdles in the development process. As medical data is often complex and each case can differ widely, artificial intelligence may struggle to correctly identify patterns. However, many believe that IBM's access to medical data in combination with Merge's images could give the company enough information to discover new diagnosis patterns that were previously unseen. Still, the prospect of using machines for diagnosis is still far in the future. Most believe that IBM's new system will become a companion or supplementary tool for doctors. See more from Benzinga China Moves To Devalue Currency, Investors Cringe U.S. Bank Regulator Keeps An Open Mind On Bitcoin According To Facebook, 'LOL' Is Out © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments || Obama's Clean Power Plan: Winners & Losers: On Monday, the Obama administration together with the Environmental Protection Agencyunveileda new set of guidelines aimed at reducing emissions in the United States. The Clean Power Plan will reduce carbon emissions by 32 percent from their 2005 levels by 2030. Obama plans to allow states to create their own individual plans to meet their designated targets, which they will need to submit in the coming years.
Controversial Plan
The Clean Power Plan has been heralded by environmentalists as a necessary step forward in the battle against climate change. Obama called the proposal "the biggest, most important step" the nation has ever taken.
However, not everyone agrees.
Critics of the plan say Obama has waged a war on coal and that the new rules will stifle job growth and raise the cost of energy in the US.
See Also:Why Are Solar Stocks Down After Obama's Carbon Announcement?
Losers
Should the plan make it through a barrage of criticism in Washington, it is expected to have an uneven impact across the US. Much of whether or not a specific state will benefit depends on that particular state's reliance on coal and how its industry is regulated. Despite that, the coal industry as a whole is expected to suffer under the new regulations. Companies likeAlpha Natural Resources, Inc.(OTC:ANRZ) and Xinergy Ltd. which are already struggling to stay afloat, are likely to face a bumpy road ahead.
Winners
Nuclear power is expected to see a boost from the Clean Power Plan as it is an effective way to generate power without major greenhouse gas emissions. Renewables like solar and wind power are also expected to gain momentum as more and more states turn to alternative energy sources to meet their new targets.
See more from Benzinga
• Fed Stuck In The Middle Of Marijuana Debate
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || California Plans For Pot Expansion: Although current California legislation still prohibits recreational marijuana use, the state has been at the forefront of the cannabis industry since relaxing its laws to allow residents to use marijuana for medical reasons.
However, as the push for full-scale legalization picks up momentum, the state's lawmakers have struggled to determine just how the industry should be allowed to grow.
Regulation Questions
In many California cities, dispensaries have been forbidden while in others a plethora of marijuana facilities, both legal and illegal, have sprung up. To streamline the industry and give growers a place to expand, Arcata, a northwestern city, isopeninga Medical Marijuana Innovation Zone.
Related Link:Marijuana Proves Useful In Treating Bone-Related Conditions
Marijuana Zone
The zone will be wholly dedicated to the production of marijuana, something that is believed to be a first in the U.S. By giving pot growers a place apart from California's residential neighborhoods to cultivate their crops, Arcadia City Council officials hope to carve out their town's role in the growing industry.
Regulating The Industry
Arcata's decision to create a specific zone for marijuana cultivation could serve as a blueprint for other states struggling with the issue of how to regulate the cannabis industry. When the land has been specifically designated for marijuana production, it gives local officials a chance to impose rules on growers in regard to land use rather than drug policy. That means pot regulation can be carried out on a local rather than state level.
Money Maker
Not only will Arcata's marijuana zoning plan help revamp California's pot industry, it's also expected to bring in big bucks for the local economy. Arcata and its local businesses stand to profit from the pot industry in the coming years, especially if California legalizes recreational marijuana as well.
See more from Benzinga
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || The Future of Money; Bitcoin and Ether Shake It Up With Crypto-Currencies That Disrupt and Innovate: POINT ROBERTS, WA and NEW YORK, NY --(Marketwired - July 23, 2015) - Investorideas.com, a global news source covering leading sectors including Bitcoin and payment technology, release commentary about new crypto-currencies including Bitcoin and Ether. Experts from both sectors talk about the future of money as we know it and how to prepare for this new future. Brad Moynes of Bit-X Financial ( BITXF ) , Ryan Rabaglia, head of Wholesale, ANX, Terrence Dempsey of The Bitcoin Investment Trust ( GBTC ) and Gavin Wood of The Ethereum Project talk about disruption, opportunity and crypto-currencies. Wedbush's recent bullish prediction of $400 Bitcoin prices has created buzz in the space and the industry is full of headlines -- with new entries from traditional financial institutions. Two pure public plays in the sector share insight from their perspectives and experience in Bitcoin. Brad Moynes, CEO of Bit-X Financial ( BITXF ) , recently launched a new Bitcoin exchange branded under the name Digatrade ( https://digatrade.com/ ) and discussed how he sees Bitcoin as a disruptive currency with a long term future. Brad's financial markets background that includes investment banking and corporate finance makes him pay attention to the recent entries into the Bitcoin market from key players on Wall Street, he told us. He sees regulation shaping the future of Bitcoin as it moves forward but his regulatory compliance background makes him comfortable with the process. Digatrade (powered by ANX Technology) just launched at the end of June with Canadian currency and is working on multi-currency payment processing including USD, GBP & EUR next. It also recently announced it has enabled Canadian-based customer deposits via eCheck; "a significant milestone," Brad said, "Bitcoin is transforming the way consumers and businesses operate. Whether for cost-savings, speed, security or opening new market opportunities, visionary companies all over the world are turning to Bitcoin for their next phase of growth." Story continues Brad also stated, "The evolution of finance is here for institutions. DigaTrade works with financial institutions across the world to enable them to harness the power of digital-currency. We provide a range of institutional storage and liquidity tools for accredited clients and provide access to advanced crypto-fiat transfer protocols and solutions." He went on to say, "We believe we are creating an exchange that will give traders, businesses and institutions a world-class platform that is secure and user-friendly, creating an even playing field for anyone wanting to trade Bitcoin and participate in the future of money." Ryan Rabaglia, head of Wholesale ANX, a Hong Kong-based company that is one of the most used Bitcoin exchange platforms worldwide, said, "It should come as no surprise that the consistently intensifying attraction to Bitcoin in China is very real. Transaction volumes out of China have been leading the way from a global perspective even prior to us experiencing peak prices in December 2013 and today is no different. With market prices and general trading interest recently being revived, a drive towards steady trading activity has been viewed here in Asia, on and off exchange." He also said, "This, of course, has much deeper implications than the daily price of Bitcoin. We are seeing a real interest from a payments and funds transfer perspective as well. The interest for sizeable foreign investment has long been a stumbling block for Chinese citizens and Bitcoin offers that potential gateway." Investorideas.com also talked to Terrence Dempsey of The Bitcoin Investment Trust ( GBTC ) to explain to investors the direct relationship of the Bitcoin pricing to the estimated share price of the recent 'outperform rating' on the stock from Wedbush. Terrence explained, "The Bitcoin Investment Trust was created to give investors the ability to gain exposure to the price movements of Bitcoin without the challenges of buying and storing Bitcoin on their own and providing this exposure through a traditional titled security. As such, the Net Asset Value of the Trust is a direct representation of the price of Bitcoin. Each share of The Bitcoin Investment Trust represents approximately 0.1 Bitcoin and the Trust's Net Asset Value is set each business day using a 24-hour volume weighted price of Bitcoin based on TradeBlock's XBX Index." He went on to explain, "The Bitcoin Investment Trust is a passive investment vehicle that only adds Bitcoin based on new investments and does not engage in the forecasting of prices or rely on any external research." He also said, "Traditional payment providers or processers are likely going to need to innovate by either incorporating Bitcoin or another form of digital payments to increase efficiency and reduce costs in order to survive. We believe that many of these firms are actively looking at Bitcoin as a potential solution." In talking about the future he noted, "In the short-term, Bitcoin has the opportunity to disrupt and innovate the payment space, particularly in global remittances and micro-payments. The ease of transacting and reduced costs when using Bitcoin compared to alternatives makes it a compelling choice. Further, with the influx of interest and investment from Wall Street in Bitcoin and Bitcoin related start-ups, it has the opportunity to overhaul the existing financial system making for more efficient trading and settlement of assets." Gavin Wood of The Ethereum Project told Investorideas.com, "It exists as platform for managing the core 'business logic' of decentralised applications; the component typically managed by a server, databases and so forth for traditional, centralised applications. Through using blockchain technology, Ethereum provides unprecedented guarantees of security, auditability, availability and interoperability for all kinds of applications. To avoid potential 'spamming' problems, the Ethereum platform has an internal token ('Ether') allowing users of the platform to pay the validators ('miners') for their contribution in doing the computation and securing the network. In some ways, Ether could be considered similar to the crypto-currency Bitcoin, however it differs in so much as Ether is not intended to be used as a general means of payment. In simple terms, the notion of a decentralised web is a web without web servers. At present all web applications, such as eBay and Facebook, are 100% dependent on centralised servers, operated by specific for-profit corporations. Being centralised, they slurp up as much information on their users in an effort to boost their power and future profits. Such corporations, we have painfully learnt, care very little about the privacy of their users or the integrity of their users' data. All too often important data (e.g. buying habits, payment information) is sold by, leaked by or stolen from the corporation. Punishment is rare and insignificant. Users are becoming increasingly savvy but as yet, few reasonable options exist for those displeased with the present state of affairs. The decentralised web, or 'Web 3.0,' is a collection of technologies that utilise modern peer-based network designs to decentralise all aspects of data publication, application logic and signaling. Through protocols such as Whisper, Ethereum and Swarm we can start to imagine how rich web and mobile applications like eBay, Facebook, and Uber could be realized, without the need of centralised servers or an expensive intermediary. Users would share the maintenance of all infrastructure and consolidate the application logic such a reputation systems and payment mechanisms themselves. Well understood mathematical principles, similar to those on which Bitcoin is based, would guard users from disreputable operators or insecure payments. A vastly simplified software infrastructure and smooth interoperation would allow services to be 'mashed-up' (combined) to unleash exciting potential business opportunities previously possible only through cumbersome cross-industry partnerships (e.g. imagine AirBnB with a simple checkbox for an Uber-based airport pickup). Through all of this, users would be safe in the knowledge that they share only as much data as is strictly required for the application to function; never giving away sensitive payment information and never having to trust one faceless organization over another. While this is an inconvenient truth now, it will become even more important as the data that our device manufacturers own begins to include information of a decidedly private and personal nature never before collected; how we sleep, how much we exercise, who we sleep with, our passing interests and so on. Ethereum, or more accurately, the Ethereum Foundation, a non-profit organization based in Switzerland tasked with the initial development of the Ethereum Protocol and its subsequent advocacy and education, has developed the first piece of the puzzle. The efforts over the past 18-or-so months of myself, Vitalik and Jeff, together with our many developers and support staff, are nearly at a culmination with the release of the so-called 'Frontier' software, the first version of Ethereum capable of forming a secure network. However, decentralising the web is a lofty goal and is unlikely achievable by the foundation's efforts alone. I think it will take the cooperation of a number of projects such as IPFS, Telehash and well-aligned profit-orientated enterprises before we really begin to see the bigger picture. Once the foundation bows out from its tenure as a software developer, I fully expect to see many from the Ethereum Project move to develop within the ecosystem under a more entrepreneurial venture." For investors considering investing in crypto-currency opportunities, be prepared for a fast and furious ride as the future of money races ahead of all us. Bit-X Financial Corp. ( BITXF ) is a Vancouver, British Columbia based Company listed on the OTC.QB under the trading symbol BITXF. The Company owns and operates a digital currency exchange and internet financial services company: DIGATRADE™. 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." https://digatrade.com/ ANX - Your Crypto Connection www.anxbtc.com - Easy, Secure, and Affordable www.anxpro.com - Altcoins, Algos, and Performance About The Bitcoin Investment Trust ( 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. || Is Russia Next To Adopt Bitcoin?: This week, Russian President Vladimir Putingave his opinionon bitcoin to the public for the first time. Putin hasn't been open about his view on cryptocurrencies in the past, but on Russia 24, the nation's domestic TV network, Putin was optimistic about bitcoin's future possibilities.
Putin Commends Bank Of Russia
Putin remarked that the Bank of Russia's efforts to explore applications for bitcoin have been beneficial and that the nation may find future use for the technology. In his view, cryptocurrencies still have major reliability issues, but the technology they run on may be useful to facilitate transactions down the road.
Related Link:Wedbush Predicts A Bright Future For Bitcoin
Still Reliability Issues
In his interview, he underlined the problems that bitcoin presents, saying that the fact that the currency isn't backed by anything represents a major issue with adopting cryptocurrencies. Though he said the nation isn't planning to reject cryptocurrencies, the issues related to using them can't be overlooked.
Not A No
Cryptocurrency enthusiasts took Putin's comments as a positive sign for the direction of digital currencies. Although he did not make any definitive statements regarding the Russian government's stance on using the currency, he appeared optimistic about the possibility of using blockchain in order to keep track of accounting records. Many had expected Putin to take a more firm stance against cryptocurrencies, so the fact that he didn't announce that they would be prohibited was considered a win.
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• The Big Business Behind Fantasy Sports
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || The Next $10 Bill Will Feature a Woman: The next generation of the $10 bill will have a woman on the face of it.
The new $10 bill won’t be out until 2020, but when it is released, a woman will replace Alexander Hamilton as the primary image, according to anannouncement from U.S. Treasury Secretary Jacob Lew.
The release of the new bill willhonor the 100th anniversary of the passage of the 19th Amendment, which gave women the right to vote.
The woman hasn’t been selected yet, but she will be chosen for her work building and supporting democracy. “America’s currency is a way for our nation to make a statement about who we are and what we stand for. Our paper bills—and the images of great American leaders and symbols they depict—have long been a way for us to honor our past and express our values,” Lew said.
Related:Bill Gates: Bitcoin Is 'Better Than Currency'
The $10 bill will be the first U.S. currency in more than 100 years to have a woman on it, according to Deputy Treasury Secretary Sarah Bloom Raskin.Martha Washington was on the back of the $1 Silver Certificate, alongside her husband, the first U.S. President, from 1896 through 1901.
Meanwhile,three U.S. coins in circulation have a woman on their face. Helen Keller is on the back of the Alabama quarter, Sacagawea is on the face of the dollar coin currently in production and Susan B. Anthony was on the face of the dollar coin produced from 1979 to 1981.
The final announcement of the woman to be on the front of the $10 bill will come later this year. In the meantime, the Treasury is collecting feedback from the public through meetings, roundtables and other public forums to hear who Americans would select for the new $10 bill. The Treasury is also collecting feedback on social media with the hashtag#TheNew10.The first $10 bill was issued in 1914and featured President Andrew Jackson.
Related:50 Motivational Quotes From Disruptive, Trailblazing, Inspiring Women Leaders
If you are interested to contribute your thoughts about which lady should be on the new $10 bill, keep in mind that to be depicted on a U.S. currency,a person must be deceased.
In addition to increasing the representation of women on U.S. money, paper currency has to be updated and replaced periodically tomake it harder for counterfeiters to replicate the designs. The last time the $10 bill was redesigned was about 10 years ago.
Being on the face of the $10 bill is one way to get a whole lot of face time. Post-mortem fame, but nonetheless. At the end of last year, there were 1.9 billion $10 bills in circulation and for 2015, the U.S. government ordered more than 627 million $10 notes to be printed.
Related:5 Powerful Rules for Women Entrepreneurs to Live By || 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. || 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 betweenDanish bitcoin exchange CCEDKandforex 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 atCCEDK were excited to releaseadebit cardfor 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.
Contact CCEDK | Crypto Coins Exchange Denmark Aps:
Ronny [email protected]ærvej 6, Hune, DK-9492 Blokhus Denmark
SOURCE:CCEDK.com || Fearing return to drachma, some Greeks use bitcoin to dodge capital controls: By Jemima Kelly LONDON (Reuters) - There is at least one legal way to get your euros out of Greece these days, to guard against the prospect that they might be devalued into drachmas: convert them into bitcoin. Although absolute figures are hard to come by, Greek interest has surged in the online "cryptocurrency", which is out of the reach of monetary authorities and can be transferred at the touch of a smartphone screen. New customers depositing at least 50 euros with BTCGreece, the only Greece-based bitcoin exchange, open only to Greeks, rose by 400 percent between May and June, according to its founder Thanos Marinos, who put the number at "a few thousand". The average deposit quadrupled to around 700 euros. Using bitcoin could allow Greeks to do one of the things that capital controls were put in place this week to prevent: transfer money out of their bank accounts and, if they wish, out of the country. "When people are trying to move money out of the country and the state is stopping that from taking place, bitcoin is the only way to move any value," said Adam Vaziri, a board member of the UK Digital Currency Association. "There aren't any other options unless you buy diamonds, and that's very difficult to move." But Marinos said the bitcoin buyers' main aim was to shield their money against the prospect that Greece might leave the euro zone and convert all the deposits in Greek banks into a greatly devalued national currency. If voters reject the demands of international creditors in a referendum on Sunday, this becomes much more likely. "A lot of people are keeping all the bitcoins they buy on our platform, until they understand what to do with them," Marinos said. "In their eyes, now they have bitcoins, they're safe." VOLATILE CURRENCY That said, the value of a bitcoin, a web-based digital currency invented six years ago that floats freely and is not backed by a government or central bank, has been highly volatile. It peaked at over $1,200 in late 2013 before crashing almost 70 percent in less than a month after a hacking attack on the Tokyo-based bitcoin exchange Mt. Gox in early 2014. Story continues This week, as Greece defaulted on a debt to the IMF, the price jumped to a 3-1/2-month high of $268 (BTC=BTSP) on the Bitstamp exchange - up more than 20 percent since the start of June - while the number of daily transactions reached a record 150,917. Most bitcoin-watchers reckon the digital currency's rise is mostly due to speculators betting that capital controls would trigger heavy demand. In March-April 2013, when Cyprus clamped down on bank withdrawals, bitcoin rocketed almost 700 percent. Coinbase, one of the world's biggest bitcoin wallet providers, which is not currently accessible to Greeks, said it had seen huge interest from Italy, Spain and Portugal. It said the average daily sign-ups from euro zone countries had increased 350 percent since the start of June. Average daily bitcoin purchases from the euro zone this week were up 250 percent compared with June's average. On June 20, Greece got its first bitcoin "ATM", in a family-run bookstore in Acharnes on the outskirts of Athens. There, if they had them, customers could insert euros and in return receive bitcoin at the current exchange rate, which they would scan into an electronic "wallet" on their smartphones. But with Greeks having to form long queues at bank ATMs just to receive a meager 60 euros' cash a day, this machine has seen no customers since talks with creditors broke down on Saturday. "Before Saturday, there was some very limited interest, mostly customers asking what it does and how it works," said Maria Varila, an employee in the shop. "Since Saturday, however, when all hell broke loose, there has literally been zero interest." (Additional reporting by Lefteris Karagiannopoulos and Dimitrios Michalakis in Athens; Editing by Kevin Liffey)
[Random Sample of Social Media Buzz (last 60 days)]
#RDD / #BTC on the exchanges:
Cryptsy: 0.00000006
Bittrex: 0.00000006
Average $1.6E-5 per #reddcoin
16:00:00 || Current price: 181.1£ $BTCGBP $btc #bitcoin 2015-08-05 22:00:08 BST || LIVE: Profit = $1,129.00 (1.27 %). BUY B360.45 @ $247.35 (#Bitfinex). SELL @ $248.26 (#HitBTC) #bitcoin #btc - http://www.projectcoin.org || buysellbitco.in #bitcoin price in INR, Buy : 17728.00 INR Sell : 17175.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || buysellbitco.in #bitcoin price in INR, Buy : 18519.00 INR Sell : 17935.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || buysellbitco.in #bitcoin price in INR, Buy : 19263.00 INR Sell : 18661.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || #RDD / #BTC on the exchanges:
Cryptsy: 0.00000005
Bittrex: 0.00000006
Average $1.3E-5 per #reddcoin
10:45:00 || In the last 10 mins, there were arb opps spanning 15 exchange pair(s), yielding profits ranging between $0.00 and $1,526.57 #bitcoin #btc || buysellbitco.in #bitcoin price in INR, Buy : 16772.00 INR Sell : 16249.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || Current price: 228.04€ $BTCEUR $btc #bitcoin 2015-07-03 12:00:06 CEST
|
Trend: down || Prices: 258.51, 257.98, 211.08, 226.68, 235.35, 232.57, 230.39, 228.17, 210.49, 221.61
|
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 2017-02-28]
BTC Price: 1179.97, BTC RSI: 73.45
Gold Price: 1252.60, Gold RSI: 66.36
Oil Price: 54.01, Oil RSI: 55.64
[Random Sample of News (last 60 days)]
Bitcoin dropped sharply and suddenly on more news out of China: Bitcoin tumbled by more than 4% in a matter of 15 minutes on Wednesday afterBloomberg reportedthat the People's Bank of China was meeting with several local bitcoin exchanges to discuss money-laundering concerns.
Bitcoin has had a wild start to 2017 after gaining 120% in 2016 to become thetop-performing currencyfor the second year in a row. The cryptocurrency raced to a gain of 20% in the opening days of the year as speculators,mainly from China, poured in.
Bitcoin then crashed 35%, however, on fears thatChina would crack downon trading, bottoming near $750 a coin. Then the cryptocurrency managed to grind higher despite news that China's three largest exchanges said they would implement a flat fee of 0.2% on all transactions.
Bitcoin is now trading down 1.5% at $1,036 a coin. It's up almost 9% for 2017.
(Investing.com)
NOW WATCH:Here's how to use one of the many apps to buy and trade bitcoin
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• Bitcoin is rallying for an 8th straight day
• Bitcoin is back above $1,000
• Bitcoin is busting out || 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) || Top Trading Opportunities for 2017: DailyFX.com -
Indecision ruled much of 2016 – as it had the year before. Global equities and the Dollar carved out broad ranges rather than extend the trends of previous years. That complacency was shaken however in the final quarter of the year. A buildup of major event risk from Brexit to the US Presidential election to the second Fed rate hike put markets back in motion. Will revived trends hold true into the New Year or is volatility the only holdover to depend on? These are the DailyFX Team’s top trade opportunities for 2017.
Top Trades:
• John Kicklighter, Chief Strategist: GBP/JPY Combines a Depressed Pound and Risk Trends
• David Song, Currency Analyst: Tracking Key Market Themes Beyond Monetary Policy
• Jeremy Wagner, Head Trading Instructor: A Typically Quiet EUR/GBP May Provide an Outsized Move
• Paul Robinson, Currency Analyst: NZDUSD, Gold/Silver Setting Up for More Losses Before Hitting a Low
• Jamie Saettele, CMT, Senior Technical Strategist: Cyclical USDZAR Downswing May Be at Hand
• Tyler Yell, CMT, Forex Trading Instructor: Awaiting Aggressive Bullish Bounce In Gold From Higher-Low
• Ilya Spivak, Currency Strategist: Avoiding the Trump Trade Rollercoaster - Short EUR vs. GBP, JPY
• Walker England, Forex Trading Instructor: Finding Potential Trading Opportunities in EUR/GBP
• Christopher Vecchio, Currency Strategist: Short EUR/USD, Long USD/JPY
• Martin Essex, Market Analyst and Editor: EUR/JPY Faces Rising European Troubles, Brighter Japanese Horizons
• Michael Boutros, Currency Strategist: AUDJPY | Breakout at Initial Resistance- Constructive Above 80.60
• David Cottle, Market Analyst: What if the Fed has Under-Gunned its Rate Hike Call?
• James Stanley, Currency Analyst: Long EUR/AUD – Buy Support, Sell Resistance
• Oliver Morrison, Market Analyst: British Pound Set for Further Gains on Japan’s Yen
• Nick Cawley, Market Analyst: GBP Recovery Against EUR Likely on the Cards in 2017
John Kicklighter, Chief Currency Strategist:
GBP/JPY Combines a Depressed Pound and Risk Trends
There are a number of glaring fundamental themes that will need to be addressed in 2017 from the market’s continuous discount of the Fed’s forecast to the rise of trade boundaries in a shift towards protectionism. However, many of these overbearing threats have neither a significant skew between potential and probability nor are they attached to a clear fundamental trigger that can offer a reasonable sense of timing for resolution. Given that trading is largely the smart management of probabilities, it is important to find opportunities that can contain the widest array of favorable outcomes and the greatest amplitude with a positive course. A long GBP/JPY view appeals to me because it speaks to two critical, heavily-skewed themes: Sterling depressed by Brexit uncertainty and an evolution of risk trends.
The Sterling component of this setup is relatively straightforward. The UK’s currency has suffered an unceremonious devaluation with the country’s vote to withdrawal from the European Union. This sustained depression reflects uncertainty and worst-case-scenario assumptions in the absence of clear procedures to navigate the divorce. It is likely that negotiations between the two sides will be tense and the United Kingdom’s economy will be worse off on a number of aspects, but it is very unlikely to be the crisis state that is currently priced in. We will start to reassess the balance of fear that suppresses the country and currency in the first quarter of 2017. Prime Minister Theresa May is due to lay out plans for negotiation in the opening months, and - should she stick to the planned time line for invoking Article 50 - to start the procedure at the end of March.
The speculative bias behind the Pound offers up a number of appealing opportunities (including EUR/GBP which sees the Euro showing little tangible appreciation of its own loss in this divorce), but GBP/JPY leverages that fundamental opportunity by adding a second fundamental theme with a particular skew: risk trends. As it stands, timing is very important to trading GBP/JPY. While the Sterling’s contribution to this situation is already grounded by speculative excess, the Yen poses a near-term risk to a bullish view. All Yen crosses are highly correlated to market-wide risk appetite. With its current bearings, speculative reach is excessive across many assets and on most fundamental measures. Below is a chart showing a risk favorite S&P 500 US equity index versus a basic ‘Risk-Reward Index’ (an aggregate G-10, 10-year government bond yield divided by an FX volatility index).
Data Source: Bloomberg. Prepared by John Kicklighter
A risk correction is overdue, and the GBP/JPY is unlikely to escape the downdraft. That said, the flush is not going to find an excess of speculative loiterers holding a long position given the exchange rate’s extraordinary low level and the absolute lack of carry the pair offers. After the painful but necessary risk scourge however, the market will be less fixated on jumping on a bandwagon of hollow momentum and instead prize genuine potential for return on depressed assets. A deeply discounted Pound with a recovering UK GDP and Bank of England not too far off from normalizing policy will lay an appealing landscape for such appetite.
In the chart below, the candlestick series is GBP/JPY and the pale red line is GBP/EUR (EUR/GBP inverted). The technical appeal relative to other Yen and Sterling crosses is worth taking a look at, but it is the fundamental scenarios behind GBP/JPY that truly speak to its bullish potential over the medium to long-term. That is why it is at the top of my list for trade opportunities in 2017.
Charts: Tradingview. Prepared by John Kicklighter
Jamie Saettele, CMT, Senior Technical Strategist:
Cyclical USDZAR Downswing May Be at Hand
Yearly Chart
Since the end of the Bretton Woods era, USDZAR has more or less gone straight up. The only notable peaks on this chart are 2001 and 2008, which are 7 years apart. Work backwards in 7 year cycles and you’ll notice that 1987, 1980, and 1973 are pivot lows (1994 was nothing). 7 years after 2008 is 2015 (remember, we’re looking at yearly closes). The decline from 2001 lasted 3 years and the decline from 2008 lasted 2 years. It’s possible that 2016 is the first year of another decline.
‘Blow-off’ Tops
The tops in 2001, 2008, and 2015 are ‘blow-off’ tops. The ‘blow-off’ portions of the rallies occur following breaks through the top of a channel. Once the market comes back into the channel, a reversal is considered underway towards the point from which the blow-off advance originated. This point is defined as the level where price last touched the support line. The circles on the chart denote the origin points. The target in this case is 10.9070.
Similarities to Previous Tops; Especially 2001
USDZAR fell in 3 waves from December 2001 to June 2002 and then rallied in 3 waves from June 2002 to August 2002. Weakness then accelerated through 2004.
USDZAR fell in 3 waves from October 2008 to January 2009 and then rallied in 3 waves from January 2009 to March 2009. Weakness then accelerated through 2010.
USDZAR fell in 3 waves from January 2016 to August 2016 and has traded sideways for 4 months. It’s critical that shorts are not established until the long term trendline is broken. A break below the trendline and subsequent ‘check’ on the trendline from below as resistance would be even better for entry.
Ilya Spivak, Currency Strategist:
Avoiding the Trump Trade Rollercoaster - Short EUR vs. GBP, JPY
Reality humbled smug prognosticators convinced that UK voters will vote to stay in the European Union, that Hillary Clinton will win the US presidential election, and that OPEC will fail to strike an output cut deal yet again. The road ahead looks no less treacherous and attempting to divine where it may lead seems no less foolish.
Much will depend on how the Fed will react to the as-yet unknown impact of policies put forward by the Trump administration. Will “big-league” fiscal stimulus really goose up growth, spur inflation and steepen the on-coming rate hike path?
The markets seem to think so, but no really one knows for sure. It is impossible to say with confidence that a boost from infrastructure spending, tax cuts and deregulation will not be offset if the President-elect gives in to his protectionist streak. Pretending this is not a possibility looks like wishful thinking.
The US economy is the single largest engine of global demand and the US Dollar is the world’s undisputed reserve currency, serving as the medium of exchange for close to 80 percent of all transactions. That means that answering this question will set direction for nearly every benchmark asset across the financial markets.
Crafting a robust strategy for the year against this backdrop will mean avoiding trades that force investors to take bets on world-changing outcomes, at least for now. Instead, it seems prudent to look for opportunities that sidestep them altogether. Selling the Euro against the British Pound and the Yen seems to fit the bill.
The Japanese unit and the single currency look similar heading into 2017. It may turn out that losses against a Trump-ed up US Dollar and an OPEC-driven crude oil rally will finally speed up price growth enough to consider scaling back ECB and BOJ stimulus. Then again, it may not.
In either case, both central banks’ actions would be driven by the same narrative and may turn out be a wash on-net. The Euro will have to contend with tremendous political uncertainty however as Germany and France head to the polls. Anti-establishment forces have gained ground in both countries.
The past year ought to have taught investors not to discount the threat of populist insurrection in heretofore bastions of the Western status quo. This means worries about election outcomes in the heart of the Eurozone may weigh on the Euro independently of how the big-picture global narrative develops.
Another concern is the start of Brexit negotiations. The Euro soared against the Pound after the Leave campaign emerged triumphant but uncertainty about implementation will almost surely cool growth on both sides of the English Channel, meaning that Sterling looks somewhat cheap relative to its Continental counterpart.
Jeremy Wagner, Head Trading Instructor:A Typically Quiet EUR/GBP May Provide an Outsized Move
Focusing on the technical pictures, some cross pairs may surprise in 2017. We wrote about Sterling last year (“More Than Irish Look for the Pot of Gold”) and it followed through as anticipated. This year, EUR/GBP is one that as the year progresses it may set up for another strong leg higher.
The move from July 2015 to October 2016 appears to be a 5-wave move to start a new trend. We know from Elliott Wave Theory that 5-wave moves to start a new trend typically have a partner in an alternating wave of similar size. Therefore, as price corrects this 2015-2016 trend higher, we will look to identifying levels that may support the correction prior to another leg higher.
Keep the Fibonacci retracement levels handy on the chart from July 2015 to October 2016. The 61.8% retracement level comes in near 0.7810. Coincidentally, the former resistance line (purple dotted line) crosses near this same level. We know from support and resistance training that former resistance, when broken, can act like new support in the future. Therefore, if price corrects lower, we may see a positive reaction near 0.75 – 0.78.
At that point, we will anticipate another move higher of similar size as the July 2015 to October 2016 trend. That move was nearly 2300 pips so we will look for a bounce higher of approximately 1400 (61.8% of 2300) or possibly 2300 pips. That suggests upside targets near 0.92 and possibly 1.01.
Wait for price to finish the correction lower. If trade prints below the July 2015 low of 0.69, then another pattern is in the works.
Keeping with the Sterling theme, we will also be monitoring GBP/JPY and specifically if a correction develops. The structure of a correction lower in GBP/JPY develops will help set the tone if we can anticipate a partial correction or move to new lows. If the move develops as a 3 wave corrective move, then GBP/JPY would be in a similar boat as EUR/GBP in that another strong leg higher may carry it towards 160’s and possibly 175 later in the year.
Join Jeremy for the US Opening Bell webinarsto keep up to date on these trends plus other Elliott Wave patterns he is following.
Michael Boutros, Currency Strategist:AUDJPY | Breakout at Initial Resistance- Constructive Above 80.60
AUDJPY Weekly
Prepared by Michael Boutros
Last yearwe highlighted a broad descending median-line formation off the 2013 & 2014 highs while noting that, “The broader focus remains weighted to the downside while below this threshold (the upper parallel) with a break below the September low-week reversal close at 85.47, targeting subsequent objectives at the 81.84-82.80 range & the 50% retracement of the advance off the 2008 low at 80.16. A critical longer-term support zone rest lower at72.05-74.20.”
Indeed this critical support barrier marked the low this year with the subsequent rebound in price marking the largest quarterly advance since 4Q of 2012. The pair has stretched back into key near-term resistance at87.55/64ahead of the yearly close- this level is defined by the 2016 open, the 50% retracement of the 2014 decline and the median-line of the ascending pitchfork extending off the February low.
While the immediate long-bias is vulnerable, a broader bottoming process off previous yearly range lows may be underway here and heading into 2017 the outlook remains weighted to the topside while within this ascending formation with interim support eyed at81.58/97. Key confluence support & bullish invalidation rests just lower at the convergence of the 52-week moving average & the 2011 parallel around~80.60(also the origin of the Q4 breakout). Bottom line: we’ll be looking to fade weakness towards these levels early in the year with a breach above key resistance targeting subsequent topside objectives at90.64-91.23&96.34.
Tyler Yell, Forex Trading Instructor:Awaiting Aggressive Bullish Bounce In Gold From Higher-Low
“Markets bottom when the last seller has sold and markets top when the last buyer has bought.”
-Tom DeMark, DeMark Analytics
One of the seemingly great ironies of the outcome of the U.S. Election was how wrong many market participants were to anticipate price outcome of a possible Trump victory. After President-elect Trump declared victory in the early hours of November 9, 2016, the market unexpectedly rallied in a full risk-on mode that lasted well into December.
Many traders thought Trump would cause markets to go risk-off and that Gold and JPY would be the big beneficiary of a Trump victory with both appreciating aggressively. However, since the November 9 intra-day high on XAU/USD just north of $1,340/oz, the price of Gold has fallen ~17% or nearly $230s/oz by mid-December. Similarly, the Japanese Yen has weakened by 1,335 pips as of the time of this writing against, which is worth a loss of nearly 14.6% in a month’s time.
While the market moved aggressively against haven assets and currencies like Gold and JPY, a trader should be on the watch for the scene setting up for a Bullish Gold move in early 2017. The main components that lead me to be on heightened watch for a Bullish Gold reversal are the steep slope of the price decline and the sentiment extremes developing. The price of Gold has fallen into the 0.618%-0.786% retracement zone of the December ‘15-July rally that saw the price of Gold rising by ~ 32.2% or $330/oz from $1,046/oz to as high as $1,376/oz.
There appears to be no more hated asset class going into 2017 than Gold as per the Daily Sentiment Index. DSI shows in mid-December there are 10% bulls in Gold (90% Bears leading long-term bonds or T-bonds and T-notes in second and third place with 11% and 12% respectively.
If you look at the start of 2016, there were aggressive calls for the price of crude oil to drop $10 a barrel and the US dollar to push ever higher while equity markets were hated asset class. Fast forward to the end of 2016 and the dollar did turnaround after falling 8% from the January high to early May low. The dollar rallied over 11% from the May low of 91.92. Oil rallied over 111% from February to December and might be pulling away on a bullish head and shoulders pattern that could turn towards $60 a barrel. The S&P 500 rose by over 26% from its February low after falling 13.3% in the first month of trading 2016.
This recent bout of market history is worth remembering as Gold could take the prize for strong reversal alongside with Bonds as trading gets underway in 2017.
While there is euphoria going on with the weak JPY & EUR, the strong USD has some feeling that all is right in global markets. However, we should remain on the watch in early 2017 that Gold could benefit from a mispriced euphoria. Considering Gold appears to be the most hated asset in the future’s market adds to the appeal that a breakout in 2017 to the upside in Gold may have a lot of room to run higher. Gold’s younger digital brother Bit-Coin (BTC/USD), which is another haven asset has a bullish range for 2016 of 440 USD with a bullish range from low to high of 125%.
Other correlated assets to Gold are also in a strong bear market that would need to reverse before entering a long Gold trade in 2017.
Awaiting Bullish Cues:
Naturally, a downtrend does not automatically equal a buying opportunity. Before entertaining a long view, I would like to see momentum and a repricing of markets upon the information that can lead to a good trade. In the current environment with equities at all-time highs, Yen staying weak, and bond yields rallying, we will await the right time for gold to turn Gold course.
By the time I bullish Gold, the price will need to be above the daily Ichimoku Cloud along with the lagging line also above the cloud (lagging line = price from 26-periods ago). Also, given the stirrings going on in the market with very extreme bearish sentiment and Haven assets being sold off, euphoria in risky assets alongside uncertainty in future global trade and growth potential for equity earnings, Gold may be setting up for an early 2017 rally in a similar way it rallied in H1 2016. If so, that’s a move I want to take advantage of.
Chart Created by Tyler Yell, CMT with TradingView
Christopher Vecchio, Currency Strategist:
Short EUR/USD, Long USD/JPY
Leave your preconceived notions in 2016: 2017 will be unlike any year in recent memory. After a 'wave' election in which one party swept control of both halves of Congress as well as the Presidency, Republicans are in the rare position of being able to end legislative gridlock in Washington, which should translate into fiscal stimulus for the US economy.
Regardless of ideology, whichever singular party has tended to be in control after a wave election has pursued fiscal easing strategies: the US budget deficit grew by an average of 0.4% of GDP during those 18 years. It seems that a Trump administration would uphold its bargain of running up the structural deficit as typically is the case during singular party control of the government. Deficit spending in the form of a massive infrastructure spending bill, combined with sweeping tax reform, should prove to be significantly inflationary.
Higher inflation expectations should translate into further gains for US Treasury yields (and was doing so in Q4’16 via steeper Fed rate hike expectations), which will be tremendously helpful for the US Dollar in context of the current environment that the Euro and the Japanese Yen find the European Central Bank and Bank of Japan operating in: implementing aggressive easing policies to keep rates at the short-end of the yield curve as low as possible, at any cost.
The ECB’s decision in early-December to alter how its QE program is undertaken can erode the market’s desire to hold Euros over the medium-term. With the decision to buy 1-year debt, the ECB has signaled that it is basically altering policy to be able to keep the front-end of European yield curves pinned to the floor. Between the ECB's policy shift and the Fed's signaling for a faster pace of rate hikes, the German-US 2-year yield spread has widened out significantly in the past few weeks, proving to be the driving force behind EUR/USD weakness. Another 50-bps of widening in the German-US 2-year yield spread (mirroring the move in November and December 2016) could see EUR/USD down towards 0.9500 in the first half of 2017; we’ll look for a test of parity in Q1’17.
The same can be said about what's happening with the Japanese Yen. In a rising yield environment where the BOJ is pegging the JGB 10-year yield at or below 0%, the Japanese Yen stands out to be a loser. Interest rate differentials (US-Japanese 10-year yield spreads) have moved sharply against the Yen, and appear poised to do so for the foreseeable future (three- to six-months). Another 100-bps widening in the US-Japanese 10-year yield spread (mirroring the move in November and December 2016) could see USD/JPY reach its 2015 highs near 125.70 in Q1’17 before 130.00 later in the year.
The President-elect Trump reflation trade could very-well last into Q1 or Q2'17, albeit in fits and starts, before trouble emerges. We’ll want to revisit the calls for short EUR/USD and long USD/JPY by mid-year. At some point, we'll pass through the threshold where rising US yields are seen a burden for debt sustainability concerns, but that probably won’t happen until late-2017 or early-2018.
David Song, Currency Analyst:
Tracking Key Market Themes Beyond Monetary Policy
Long: AUD/JPY, Nikkei 225
The pickup in risk sentiment has triggered a meaningful development across the major global benchmark indices, with the Nikkei 225 breaking out the bull-flag formation carried over from 2015, while currency pairs such as AUD/JPY are highlighting a similar dynamic all ahead of 2017.
Nikkei 225 Monthly
After bouncing off of former trendline resistance in the first-half of the year, Japan’s benchmark equity index may further retrace the decline from back in the 1990’s as a bull-flag formation starts to unfold. The continuation pattern instills a bullish outlook for the year ahead especially as the Nikkei 225 begins to carve a weekly series of higher highs & lows, and the ongoing easing-cycle at the Bank of Japan (BoJ) may continue to shore up risk appetite as the central bank ‘will continue expanding the monetary base until the year-on-year rate of increase in the observed CPI (all items less fresh food) exceeds 2 percent and stays above the target in a stable manner.’
Despite the 7 to 2 split at the last interest rate decision for 2016, the bar remains high for the BoJ to move its quantitative/qualitative-easing program (QQE) with ‘Yield Curve-Control’ as GovernorHaruhiko Kurodaand Co. continue to cast a dovish outlook for monetary policy and warn ‘inflation expectations have remained in a weakening phase.’ As a result, the topside targets for the Nikkei 225 will largely be in focus for 2017 as the upswing in market sentiment looks to persist on the back of the highly accommodative policy stance at the BoJ.
AUD/JPY Weekly
The rise in risk appetite also appears to have sparked carry-trade interest, with AUD/JPY highlighting a material shift in market behavior as it breaks out of the downward trending channel carried over from late-2014. A similar reference can be found in the Relative Strength Index (RSI) as the oscillator flashes a bullish trigger ahead of 2017. The key developments favor opportunities to buy-dips in the Aussie-Yen, and the Reserve Bank of Australia’s (RBA) policy meetings for the year ahead may further boost the appeal of the higher-yielding currency should the central bank show a greater willingness to gradually move away from its easing-cycle.
After cutting the official cash rate to a fresh record-low of 1.50% in August, the central bank now under GovernorPhilip Lowelooks poised to retain the current stance over the coming months as officials see inflation ‘returning to more normal levels’ over the policy horizon. Despite concerns surrounding the region’s AAA-credit rating, the RBA may adopt a more hawkish tone in 2017 as ‘globally, the outlook for inflation is more balanced than it has been for some time,’ and the diverging path for monetary policy may fuel greater interest in AUD/JPY should Governor Lowe continue to talk down speculation for lower borrowing-costs.
With that said, key themes beyond monetary policy may play a greater role in driving volatility across the financial markets, and the shift in market behavior instills a bullish outlook for the Nikkei 225 and the AUD/JPY exchange rate as the reach for yield looks to persist in 2017.
James Stanley, Currency Analyst:
Long EUR/AUD – Buy Support, Sell Resistance
Trying to forecast a year in advance, especially from a macro-economic point-of-view, can be difficult and perhaps even disastrous. If you’d have said last year that 2016 would see both the U.K. deciding to leave Europe after the Brexit referendum, and the election of Donald Trump to the top-post in the United States, you’d probably be pretty hard-pressed to find anyone that actually believed you.
Next year could be equally or, perhaps even more volatile than 2016; especially for Europe as we head towards election cycles in the key regions of France and Germany. Combine this with continued-crisis in the banking sector of Italy, and there are some very big question marks for Europe next year.
But what we do know is that the ECB is effectively tapering QE by reducing purchases after March; and the bank may not have enough ammunition to do another round. Also of interest is the fact that the Euro has had a difficult time heading lower as we approach the widely-watched parity figure on the U.S. Dollar. When the ECB first announced QE in July of 2014, EUR/USD drove all the way down to 1.0462. But after QE actually began in March of 2015, EUR/USD remained supported above this prior-low. It wasn’t until the Federal Reserve ramped-up hawkishness for 2017 that EUR/USDfinallybroke-below that support.
But not many currencies are as strong as the U.S. Dollar with the post-Election back-drop. Rather than looking to buy support on the Euro against the U.S. Dollar, which could foreseeably continue to strengthen for months ahead; long-Euro setups could be directed towards the Australian Dollar. Australia still has some room to cut rates, a new Central Bank head in Phillip Lowe, and the potential for more-pressure (or weakness) to emanate from China.
But what makes the long setup attractive is the risk-reward on the monthly chart. After setting a fresh-high in August of last year at 1.6586, the pair has spent much of the time since in some form of congestion. The past three months have seen support show up at the 50% Fibonacci retracement of the most recent major move, taking the August 2012 low to that August 2015-high.
Stops on the position can be set to 1.3400, which would get the level below the 61.8% retracement of that most recent major move. Top-side targets could be sought at 1.4683 (to adjust stop to break-even), 1.5000 (major psychological level), 1.5273 (long-term Fibonacci level), 1.5500 (prior price action swing), 1.6000 (major psychological level) and 1.6405 (another long-term Fibonacci level + near 8-year high).
Chart prepared byJames Stanley
Paul Robinson, Market Analyst:
NZDUSD, potential for a return to the long-term trend-line
NZDUSD was not kind to big picture bears during most of 2016, but there is reason to believe this could change in 2017 as momentum from the swoon in Q4 may be the beginning of a big leg lower. The low created in August 2015 took Kiwi higher for longer than many expected. Many market participants, self-included, were looking for the downtrend which began in 2014 to resume at an earlier time.
The upward grind in Kiwi from the 2015 low morphed into a defined channel, or bear-flag in this case. After being rejected near 7500 it’s currently testing the bottom-side parallel of the pattern. An official break of the formation will be considered with a strong closing weekly bar beneath the lower trend-line.
There are several targeted points of support along the way towards the big picture target. Levels to watch include the May ’16 low at 6673, trend-line from the 2009 low (~6475/6550), Jan ’16 low at 6348, the Aug ’15 low at 6197, then the final target arrives at the 2000 – current trend-line. The trend-line clocks in around 5900 (+/- 50 points), or about 15% lower from here.
Trading this theme:This is highly dependent on the time-frame which one operates on, but the idea on this end is to wait for a confirmed break and then look to retracements on the daily chart. Once broken, the rising trend-line will go from being viewed as support to resistance. In addition, interest will be taken in any attempts to trade up to the downtrend line off the 2014 high. It seems unlikely if the bearish view is correct it will trade that high, but if Kiwi does it won’t undermine the outlook until it can successfully trade above the trend-line.
NZDUSD: Weekly
Gold & silver look headed lower, but important support levels hold the key
Gold looks poised to continue disappointing investors. The trend since the 2011 peak remains lower and should key levels on the downside fail to hold, gold could find itself continue winding lower in rapid fashion. There is significant support in the 1050/00 region. If this zone is broken, then watch for momentum to accelerate. Before the big region is tested, though, there is a trend-line of minor significance which could be enough to provide a bounce; it rises up from the 2008 low to around the 1100 mark. Below that trend-line and through 1000 there isn’t anything substantial in the way of price support until down to around 730/680 (2006 high/2008 low). That’s an aggressive move, but again, given the lack of major price support it could become a reality. Other levels below 1000 arrive at the bottom-side trend-line running lower from the 2013 low (~975/60), along with pivots from 2009 at 905 and 865.
Trading this theme:In Q4, gold broke the key 1180/1200 region extending back to 2013. A rally into that zone (perhaps from the 2008 trend-line) will be viewed as a point of interest to look for weakness to set in and potentially position for a move into the important 1050/00 support zone, or worse. If gold drops into the 1050/00 area, caution will be warranted from the short-side given its significance. This is the line-in-the sand for gold bulls. Hold, then a sizable rally may develop, but if it breaks then things might get ugly. It just may be what the bear market needs to end, a final flush after several years of carrying lower.
Gold: Weekly
Silver is obviously setting up similarly to gold, but with its own twist. Silver is currently heading back to a trend-line in place since 2003, which will be a very important inflection point. The level is currently around 14.50. A break below there will clear a path to the late-2015 low at 13.65. Similar levels to gold should it fall below the 2015 low are 12.46, 11.83, then nothing significant to the left until 8.45. The long-term trend-line looks likely to be met soon, and whether it can hold there or at the 2015 low could hold significant long-term implications.
Silver: Weekly
Kiwi and precious metals are highly correlated, worth noting for positioning purposes
The 52-week correlation between Kiwi and gold/silver is 70% and 86%, respectively. The long-term correlation between Kiwi and precious metals has been statistically significant, with the past two years sporting a range between 42% and 90%. If positioning on the same side in NZD and precious metals, traders will want to be aware of this correlation for risk management purposes. Keep in mind, this is a long-term correlation and the shorter the time-frame you look at the more noise there is in the correlation.
Walker England, Forex Trading Instructor:
Finding Potential Trading Opportunities in EURGBP
2016 held more than a few twists and turns in the market for traders. This is why it is always important to keep an eye on emerging and ongoing technical trends. Ultimately finding the trend will help make our decisions to buy and sell easier, but it can also help us know which pairs to target for the upcoming 2017 trading year. Currently theEUR/GBPis working on retracing much of its 2016 gains after testing a multi-year 78.6% retracement value.
My preference is to find opportunities to sell the EUR/GBP under the standing 200 day moving average (MVA) which is currently found at .8305. This value is currently acting as technical price support for the pair, which suggest that traders may look for a breakout below this point. Not only would this be a strong technical hint that the trend is again turning bearish, but it would also potentially classify the 2016 move to .9270 as a lower high in a much broader bearish pattern.
EUR/GBP Daily Chart & Retracement Values
Prepared by Walker England
As with any trade idea, there are always two sides to each story. Traders should remember that there is always the possibility that the EUR/GBP may remain supported for the 2017 trading year. In this scenario, traders may choose to delete any existing entry orders to sell the EUR/GBP. If prices do increase, traders may look for the pair to make a move on the previous 2016 high at .9270. A move above this value would suggest that the pair is attempting to put in higher highs and may attempt a move on the multiyear 2009 high of .9804.
Martin Essex, Currency Analyst:
EUR/JPY Faces Rising European Troubles, Brighter Japanese Horizons
The coming year looks likely to be an annus horribilis for the Euro. The Italian banking system remains in crisis and there are national elections in Germany, France, the Netherlands and perhaps Italy – all events that could spark Euro weakness.
Add in record lows for two-year German bond yields – the benchmark for the Euro-Zone – plus the potential for difficult negotiations between the EU and the UK over Brexit, and it’s hard to see much support for the single currency in the months to come.
While the obvious trade against this background would be to short the Euro against the US Dollar, the problem with that is the markets’ skepticism that the Federal Open Market Committee (FOMC) will deliver the three US quarter-point interest-rate increases in 2017 that it predicted in December when it raised its benchmark Fed Funds rate by 25 basis points (a quarter of a percentage point) to a range of 0.50% to 0.75%, implying a year-end rate range of 1.25% to 1.50%.
Instead, the CME Group FedWatch tool, which is based on CME Group 30-Day Fed Funds futures prices, which have long been used to express the markets’ views on the likelihood of changes in US monetary policy, shows the most likely range by December 2017 at 1.00% to 1.25%.
That, in turn, suggests a lack of interest-rate support for the Dollar and potential currency weakness, particularly if nervousness grows about the economic policies of US President-Elect Donald Trump.
By contrast, the Japanese Yen has plenty going for it. For a start, it is seen by some as a haven– along with gold and US Treasuries – to shelter in when markets are risk-averse, as they are likely to be in 2017. Moreover, recent Japanese economic indicators have been healthy and core inflation may have bottomed out. In addition, EURJPY has been climbing for the past six months, suggesting room for a correction.
Chart: EURJPY 1-Week (June 2014 - December 2016)
While any tightening of Japanese monetary policy is not on the cards, it’s notable that net speculative short Yen positions have reached their highest level since December 2015, according to data compiled by the US Commodity Futures Trading Commission. Any short covering would likely boost the Japanese currency.
On the other side of the coin, there’s plenty of political event risk ahead for the Euro. For a start, there’s the Brexit negotiations, which will likely start at the end of March and could be long and tortuous.
Then there are the elections: in the Netherlands on March 15, followed by France in April and May, and then Germany between August and October. In all three, far-Right – and largely Euro-skeptic – politicians will mount serious challenges to the incumbents. In Italy, too, there could be an election in 2017 in another country where populism is on the rise and, in addition, the banks are said to be saddled with more than €350 billion of bad loans.
That said, there is plenty of support for EURJPY around the August/September 2016 lows of 112.04/24 and then at the July 2016 lows close to 110.94. Both those areas would have to be breached before any slide back to the 100.00 levels last seen back in 2012. On the upside, any break above the 140.50 highs reached in June 2015 could lead to a sharpish rise back up to the levels around 150.00 recorded in December 2014.
David Cottle, Currency Analyst
What if the Fed has Under-Gunned its Rate Hike Call?
Think back to the end of December, 2015. The US Federal Reserve had just raised interest rates for the first time in nearly a decade. The post-crisis Fed Funds rate of 0.0-0.25% was finally history. And, the Fed expected to make four more increases through 2016. The markets never quite believed that. Sure enough, they were right.
For four rate hikes, read just one.
Here we are at the end of 2016. The Fed has just raised rates again. It expects to be doing the same, thrice, through 2017. And guess what? Markets don’t quite believe it. Futures contracts suggest only two hikes. However…It’s worth pointing out that rate-hike cycles can last longer than anyone thinks. Nobody has seen one since 2004; experts with experience will be a lot rarer.
To take an obvious example we might go back to 1973. Then there was a generally weaker US Dollar. Wage and pricing controls boosted inflation, and it took some fighting. Between March 1972 and October 1973 rates went up from just over 3% to more than 10%. Almost every hiking cycle since 1965 has involved more substantive increases than those currently envisaged by the Fed.
“Aha,” you may now say. “But we live in a low-inflation world, we won’t need the same magnitude of interest rate rises to bring inflation expectations into line.” Good point. But history suggests inflation can be harder to control than it seems. We’ve also had massive, inflationary fiscal stimulus, and rises for previously docile oil prices. We’re also less sure about monetary transmission - the way central bank decisions affect economies.
Ultra-low rates and money printing haven’t bought the growth they were once thought capable of. Might raising rates also fail as inflation brake? Then there is President-elect Trump. If his campaign rhetoric is to be believed, we can expect a deliberately inflationary fiscal policy. Coming when US employment is already relatively high, it’s not hard to see such a program pushing up wages, and then prices.
In short, the backdrop could be more inflationary than it has been for years. In that case, it makes sense to be long of the US Dollar and to remain long. It is probably best to express this via currency pairs for which rate rises on the “non-dollar” side are less likely, like the Euro or the British Pound. Gold would come in for even more severe punishment than that already meted out. US Treasury yields would also have to rise much further too.
There are clear risks to this scenario. Trump may be less expansionary once in power. European Union worries may presage crisis. China’s return to form may falter.But if all these can be avoided, we may find that we get higher US rates than the Fed now expects.
Oliver Morrison, Currency Analyst:
British Pound Set for Further Gains on Japan’s Yen
In a nutshell:A weak Yen and resilient UK economy will likely result in a stronger GBPJPY. GBPJPY is up around 14% since the start of November, and looks set to continue making gains in 2017.
Background: The Yen is weak, which is exactly where the Bank of Japan wants it. And little looks to be changing that. On December 19, the BoJ kept monetary policy steady, leaving rates at minus 0.1%, a decision that weakened the Yen against its peers.
The BoJ did raise its assessment of the economy for the first time in a year, noting the economy is continuing its moderate pace of recovery. But the Bank still has low inflation expectations. Inflation remains near zero, almost four years after the BoJ began enormous monetary stimulus.
This suggests the Bank is unlikely to change its easing policy next year, which will keep the Yen weak. Most economists surveyed by Bloomberg don’t expect any additional easing before Governor Haruhiko Kuroda steps down in 2018.
The UK economy, meanwhile, keeps showing remarkable resilience after the shock vote to leave the European Union in June. The Pound crashed to record lows in the aftermath of the referendum. But it’s staged a modest recovery against a host of currencies in recent weeks.
GBPJPY dipped 16.6% the day after the Brexit vote, but has slowly crept back to pre-referendum levels as the risks of a ‘hard’ Brexit recede. Bearish bets against the Pound dropped for a second week on December 13, according to the US Commodity Futures Trading Commission. If the Brexit process is “orderly and smooth”, as Prime Minister Theresa May promises, the Pound will gain more strength.
What are the key levels?GBPJPY has been rising since the start of November. There is huge support around the 127.00 level from October’s trading range. Resistance is at 152.50-163.50, which is the pre-UK referendum high achieved in February to May 2016. If these levels are breached, the next key zone is the 195-191 range hit between June and August 2015.
Risks to this trade:
• Inflation catches alight in Japan and heads towards the BoJ’s 2% target, leading to a shift in policy from the Bank.
• Brexit risks finally appear in UK data prints, forcing interest rates, and the Pound, down as the Bank of England moves to avoid recession. Any indications the UK is heading towards a ‘hard’ not ‘soft’ Brexit will weigh on the currency.
• GBPJPY is traditionally volatile. Net speculative short Yen positions have reached their highest level since December 2015, according to the US Commodity Futures Trading Commission. Any short covering would likely boost the Japanese currency, but hopefully, if you’re long GBPJPY, only in the short term.
Nick Cawley, Currency Analyst:
GBP Recovery Against EUR Likely on the Cards in 2017
It has been a tough year for the British Pound with the June referendum vote for the UK to leave the European Union causing sterling to slump overnight in excess of 15% against the single currency. EURGBP jumped from a pre-Brexit level around 0.7600 to a spike high around 0.9200 and led to many commentators calling for the pair to trade at parity within a short-time frame. The British Pound also sold off sharply against the US Dollar as investors shunned the UK ahead of the start of the country’s formal divorce proceedings from Europe, expected by the end of March 2017.
While sterling has remained at the lower levels against the US Dollar, prompted in part by the Federal Reserve’s decision to hike rates and the likelihood of another three increases in 2017, the UK currency has pulled back some of its losses against the single currency as the weak economic backdrop in the EU continues to weigh on the currency. And the growing tide of discontent across Europe will do little to help the current situation as Europe faces four – Netherlands, Italy, France and Germany - potentially tricky general elections in 2017. Any shifts towards anti-EU parties and the future of the single currency will come under intense scrutiny.
In the fixed income market, the yield differential between the UK and Europe has also increased in the last few months, aiding GBP. The 2-year UK gilt currently yields around 0.12% compared to -0.785% for the 2-year German equivalent and this gap is likely to grow as UK inflation expectations continue to increase. The Bank of England recently highlighted that consumer price inflation is likely to hit 2.8% in 2017, from an estimated 1.3% this year, as the effects of weaker sterling filter through. This is above the BoE’s target of close to 2% and will not be tolerated for long by Governor Mark Carney. In contrast the latest ECB forecasts see inflation hitting 1.3% next year, still way below the central bank’s target of close to 2%. The ECB recently trimmed down and extended its bond buying program until the end of next year at least, hinting that the central bank is still concerned over the lack of price pressures in the economy.
When the UK triggers Brexit, by the end of next March by the latest, the endless rounds of rumours and ‘what-if’ articles over the UK/EU break-up will shift to a more factual basis. And it is here that any movement towards a ‘soft-Brexit’ - the most likely stance - will give sterling an additional upward boost as both sides realise that flexibility needs to be shown between two of the largest global economies. Neither side will benefit from a prolonged ‘hard-Brexit’ especially in Europe where growth is still anaemic, while the UK will suffer badly if the financial services industry is forced to move out of London due to a lack of access to European markets.
Will the Euro give back more of its Brexit gains?
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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 fromIG. || Here's what's behind Visa's massive Q4 win: VISA GPV (BI Intelligence) This story was delivered to BI Intelligence " Payments Briefing " subscribers. To learn more and subscribe, please click here . Visa plans to stick with the approach that delivered exceptionally strong growth in Q4 2016. CEO Alfred Kelly noted that the firm doesn’t foresee making massive changes to its strategy, but will instead remain ready to adapt to industrywide changes and focus on three key areas for growth: global access, partnerships, and digital gains. In order to best understand Visa’s growth in these areas, it’s worth taking a look at two key metrics: Payment volume: In Q4, Visa payment volume hit $1.8 trillion, with $803 billion coming from the US and $998 billion internationally. That’s up 39% year-over-year (YoY) on a constant currency basis. Though gross volume is down slightly sequentially, when accounting for the loss of Visa Europe co-badge volume, which was no longer counted beginning in Q4, it marks a slight acceleration. The acquisition of Visa Europe will help grow the company by adding new markets, but its performance was not the main improvement factor. Transaction growth: Visa processed 40.8 million transactions in Q4, up 41% on a year-over-year basis. Of those, 65% were debit, and 35% credit, indicating the strength of Visa’s massive debit network. That indicates that, though users are spending more on credit than on debit, both in the US and abroad, debit cards are used more often. Though these gains were the product of many factors, there are a few key trends worth calling out. US credit appetite: Visa identified US volume, which increased by 12.4% in Q4, as a “key business driver”. Though the firm is having issues with debit, acquiring the Costco and USAA portfolios helped increase its volume. In addition, strong credit appetite in the US — spending is now at pre-recession levels — has led issuers to bolster rewards offering, which likely leads to increased issuance and rising spend, ultimately benefiting networks in the long run, according to the Wall Street Journal. Improved cross-border volume: For the past several years, Visa had been struggling with cross-border volume. That’s now improving — cross-border volume grew by 12% on a constant currency basis, marking acceleration that Visa calls “broad-based” and considers it a tailwind. The improvements could be a product of strong cross-border volume in Europe, inbound UK commerce rising due to a weak pound, and outbound commerce from Russia and Eastern Europe, according to the firm’s earnings call. India demonetization: India’s demonetization, which removed 86% of the country’s cash from circulation, had a massive and immediate impact on mobile payments. This seems to have extended to card networks as well. Visa saw a 75% increase in volume in India, and more than double the number of transactions, making the country the major driver of international transaction growth. That’s likely a bump due to a major change in policy, but the ongoing shift to cashless could help Visa maintain India as a key growth channel. Story continues John Heggestuen, director of research at BI Intelligence , Business Insider’s premium research service, has 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 Unpacking Visa and Mastercard's tokenization deal Visa and MasterCard are delaying the EMV shift for gas stations Walmart is ramping up its battle with Visa || Bitcoin extends losses, slides another 12 pct on China warning: LONDON, Jan 6 (Reuters) - Bitcoin plunged another 12 percent on Friday after China's central bank urged investors to take a rational approach to the digital currency, which has is on track for its heaviest two-day falls in two years.
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 .
But the digital currency - which has shown an inverse correlation to the Chinese yuan in recent months - plunged as the yuan soared on Thursday, falling as much as 20 percent at one point, before closing the day around 10 percent down on the day.
On Friday it fell to $887, having lost almost a quarter of its value since Wednesday's peak.
Bitcoin prices had showed abnormal fluctuations, the Shanghai head office of the People's Bank of China (PBOC) said in a notice. It stressed bitcoin is not a currency and cannot be circulated as a real currency in the market.
(Reporting by Jemima Kelly; editing by Sujata Rao) || Gartman: Don't Buy Stocks, Consider Gold: Dennis Gartman is the man behind The Gartman Letter, a daily newsletter discussing global capital markets. For almost 30 years, The Gartman Letter has tackled the political, economic and social trends shaping the world's markets. ETF.com recently caught up with Gartman to discuss the latest developments in the financial markets.
ETF.com: The stock market continues to hit record highs on a daily basis, with the Dow up 11-straight sessions through Friday [Feb. 24]. You characterized this rally as a "melt-up." Should investors be happy about it, or should they be concerned?Dennis Gartman:They should be egregiously concerned, because they have to ask themselves if they honestly believe all of the benefits that have been put forth by the Trump administration are going to absolutely come to fruition.
Will there be tax cuts as consequential as Mr. Trump has indicated? There'll be tax cuts, but will they be as consequential? Probably not. Will there be infrastructure spending? Not a question. But will there be as much infrastructure spending as the markets seem to anticipate? Probably not.
Those things make it difficult to remain bullish of stocks at these levels. The market can go higher, but it is at levels I find to be nosebleed territory. People should be very careful up here. New purchases are to be avoided; old purchases should be hedged up in some fashion using derivatives or options; and bring stop orders up close behind the market.
ETF.com: From what I gather, you think Trump's agenda is going to be bullish for stocks, but not as bullish as the market is anticipating.
Gartman:Mr. Trump's agenda is bullish for the economy, but not necessarily bullish for stocks. That sounds illogical, but it's not illogical at all.
Why do stocks go up before economies come out of a recession? Because at the bottoms—when the monetary authorities become expansionary—that money finds its way into the capital markets, because it isn't needed in plants, equipment and labor.
You get that period of time that stocks take off on the upside and the economy continues to dwindle, and everybody wonders how stocks can continue to go up. That's what happens at bottoms.
On the other hand, at the tops of economic expansions, when there’s demand for plants and equipment and labor, money has to come from somewhere―especially if the monetary authorities are starting to err on the side of being restrictive rather than expansionary, as the Fed currently is. At that point, money comes out of the capital markets and goes into plants and equipment and labor.
Trump's proposals and his agenda are very bullish for the economy. By definition, therefore, it's somewhat bearish for equity prices after this sort of extended rally.
ETF.com: Do you think we're close to the end of this bull market we've been in for eight years?
Gartman:We are; I would counsel people not to be a buyer of equities up here. If you’re an owner of equities, I would counsel strongly to bring stops up behind your positions, buy puts to protect those positions, sell futures to protect those positions, or write covered calls to protect those positions. I would tell you not to be a buyer of new equities. And anything that you had in the past, do something to protect those profits.
ETF.com: Another bull market that seemed to come to an end recently was in the bond market. Bonds sold off sharply last year and interest rates spiked up. Do you think the 30-year run in bonds is over, and will rates continue to head higher?
Gartman:Yes, I do. That 30-plus-year bull market, which began in August 1982, is over. It's hard to believe, but I was there at the beginning. I was there at the end of the previous bear market, and I was there at the beginning of this long, protracted bull market in bonds (or the long, protracted decline in interest rates). It's hard for me to make people remember, but in 1982, the 30-year bond had a coupon of 14.75%, and you couldn't give them away at the time. It was astonishing how bad the psychology was.
But since 1982, we've been in a 30-plus-year bull market; that bull market has ended. The trend is for higher interest rates, not lower. But you must also remember the bond market tends to move in multidecade, long-term trends. If we're in for 20, 30 or 40 years of higher rates, for the first 15 or 20 years, we'll see rates go up very slowly, and very marginally.
It's at the end of this next bear market―the last quarter―that rates will go up the fastest and prices of bonds will fall the most dramatically. So while interest rates are going higher, there's no reason to be panicky about that right now.
ETF.com: In this environment, where stocks are overvalued and bonds go down slowly, are there any assets you like right now?
Gartman:For the first time in a while, I think you should own commodities in general. You should own gold in dollar terms; you should own gold in euro terms; you should own gold in yen-denominated terms. Gold has started to be a bull market.
Also, for the first time in almost four or five years, I'm actually bullish of the crude oil market. Because the term structure had shifted and crude oil prices don't break on bearish news any longer, I'm starting to find myself turning bullish on that commodity.
Contact Sumit Roy [email protected].
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Permalink| © Copyright 2017ETF.com.All rights reserved || The Fintech World Series: Canada: By:KurtosysHarvest ExchangeFebruary 28, 2017
Fintech is exploding.
It is a global industry, striving to change the future of finance.
…And the future is now. At Kurtosys, we’ve set out to cover exactly what’s happening in the financial industry the world over, one country at a time. With so many places contributing to the advancement of our digital world, each deserves their own time in the spotlight.
This time, heading away from Europe, we’re travelling toCanada. Whilst neighbouring the fintech giant that is the United States, this North American behemoth is steadily boosting its reputation of having one of the most secure banking systems in the world. Read on to discover how this affects their up-and-coming fintech landscape.
With a country boasting such incredible musical talent as Justin Bieber, Nickelback and Avril Lavigne, it was naturally going to be on our fintech radar, eh? But seriously, Alexisonfire are awesome, and Canada was actually named by accident, when French Explorer Jacques Cartier mistook a native term for village – ‘kanata’ – for the country’s name as we see it today. It is a land that has birthed such funny people as Jim Carrey, Mike Myers and Leslie Nielsen, and big-time serious actors such as Malin Åkerman and Ryan Gosling*, with the latter achieving early stardom in Canadian cult-classic TV showGoosebumps. The less said about that the better. More should be said, however, about Canada’s rise to fintech prominence.
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According to a post in the Canadian publication The Globe and Mail, outside the technology life-blood of Silicon Valley, Canada’s province of Ontario (home to cities including Toronto, Ottawa and Hamilton) has among the highest concentrations of technological firms. The reason for this being its low costs, and the universities in the Toronto and Waterloo area being abound with graduate engineers and developers. Deloitte awarded Canada a global financial centre rank of 21 in 2016.
There has recently been investment from both the financial and technological industries. Of note, Goldman Sachs invested in Financeit (based in Toronto, offering businesses a platform for customer payment plans) in 2015, as well as nanoPay in 2016, a “frictionless payments” service, also based in Toronto. Elsewhere, one of Japan’s world leading tech services companies NTT Data Corp has announced a partnership with MaRS Innovation lab (more about them later on), promising to support Canadian startups whose technologies can be used by NTT. Two notable startups from Canada that have achieved success are Shopify – a cloud-based e-commerce company that designs software for online stores for SMEs, founded in 2004 – and Hootsuite, a social media management platform used by over 15 million people, founded in 2008 in Vancouver, which similarly has a thriving fintech ecosystem like the cities in the East.
Despite the global financial crisis of 2007/08, Canadian banks remained unscathed according to the Canadian Bankers Association; none were in danger of failure or were bailed out. In fact, Canada’s banks have been rated amongst the soundest in the world for the past 10 years, rated highly due to them being well capitalised, managed and regulated. Should a similar crash occur in the future, each bank has developed “recovery and resolution plans” already – ahead of the curve. Plus, the development of regulatory frameworks for banks and insurers is being handled by both domestic and global organisations, so Canadians are clearly remaining resolute to keep their well-earned ‘sound banking’ tag.
The largest banks in Canada are referred to as the ‘Big Six’ by a report from PWC, and are as follows:
• Bank of Montreal (BMO)
• Scotiabank
• Canadian Imperial Bank of Commerce (CIBC)
• National Bank of Canada (NBC)
• Royal Bank of Canada (RBC)
• Toronto-Dominion Bank (TD)
As well as these established financial institutions, there is also the presence of online disruptor banks, which include Tangerine, PC Financial and Canadian Tire Bank. However, in 2014 it is noted that these banks only accounted for 3% of Canadians’ total deposits. Are digital financial companies still very much in the shadow of major banks, who retain brand recognition and consumer trust? Peter Aceto, CEO of Tangerine, believes that there is a social revolution occurring within the financial industry, with consumers losing trust in major banks and “expecting experiences that simplify their lives, that makes things easy”. Tangerine was the original disruptor bank that launched its first branchless bank in Canada. Truly, banks are responding to this revolution that Aceto outlines, and it turns out that many are making heavy investments in technology to “transform their customer experience, automate processes, comply with regulatory demands and enhance digital capabilities”, with many beginning the enablement and implementation of APIs.
Despite the regulators’ tendency to aim for stability (thus halting market innovation), Canadian fintech is still pushing to gain momentum. There are already more than 80 fintech firms in Canada, with the GTA (Greater Toronto Area)-Waterloo and Vancouver areas being the sites for a concentrated ecosystem of major banks, universities and tech startups. Whilst pension plans have recently attracted the most significant fintech investments, more is needed from the government, private investors and banks. To put things into perspective, since 2010 the Canadian fintech community attracted C$1 billion in capital since 2010. In 2014 alone, US fintech had US$9 billion. One Canadian dollar is roughly equivalent to 70 cents.
There is evidence from the Digital Finance Institute that Canadian banks are developing their own fintech solutions in-house. The Royal Bank of Canada is one example, but it also works externally as part of the US-based R3CEV-blockchain tech consortium. Additionally, the Big Six are in fact co-operating with fintech startups, accelerators and incubators to further their digital re-invention. Here are the most prolific examples of internal and external fintech stories:
• In 1996, it launched Mbanx, the first direct-to-customer bank.
• On January 16 2016, it launched SmartFolio, a digital portfolio management service, competing with traditional players and robo-advisers, built in-house with assets of $20 billion.
• It introduced Touch ID log-in (fingerprint recognition) to its BMO mobile banking app in Canada and the US.
• In the US, Mobile Cash was made available, allowing the withdrawal of money via smartphone.
• The BMO Banking and InvestorLine portal makes BMO the first Canadian bank to give customers access to personal banking and investments accounts in one place.
• BMO DepositEdge in Canada allows businesses to deposit cheques remotely.
• BMO Spend Dynamics gives corporate card clients access to transaction data.
• Invested in Kabbage, a US-based online small business lender.
• Has an internal Digital Factory focused on tech and mobile banking.
• Supposedly looking to partner with more external fintech startups.
• Partnered with MaRS in 2015.
• Partnered with Thinking Capital, another online small business lender.
• Developed a new marketing model, with segmented marketing campaigns with more personalised offerings, supported by data analytics teams, tech and tools to enhance tailored services for sales teams.
• Developed an Android and iPad tablet app, the latter ranking #1 in the financial services category.
• Planning to develop optimised tools for access to products and services and to implement a customer relationship management platform.
• Partnering with Nymi Wristband Technologies.
• Partnered with mobile-app-giant Uber for loyalty rewards.
• Established an innovation lab at Communitech.
• Partnered with Moven, a mobile personal financial management platform.
• Looking to collaborate on a tech solution for improved customerandemployee experience in Cisco’s Toronto Innovation Centre.
In the Digital Finance Institute (DFI) report, there is a further stress on fintech development in the province of British Columbia, so much so call that it is hashtag-worthy (much like in Estonia) – #BCTECH. The city of Vancouver is the main focus, as it houses some of the leading tech companies (Microsoft, EA, Amazon), as well as important fintechs, including Samsung Pay and SAP. Unsurprisingly, it is also the home of the DFI, which organises workshops, conferences and institutional education to bring Canadian fintech to the world, is a think tank for fintech and AI, encourages investment and partners for balanced regulation of digital payments and remittances.
Vancouver was actually home to the world’s first Bitcoin ATM in 2013, and by June 15 2015, there were 60 Bitcoin ATMs across the whole of Canada. What else? Vancouver-based Central 1 Credit Union provides fintech services to financial institutions such as payments and mobile banking services. The DFI notes that “the geographical position of Vancouver gives it an unparalleled advantage for trade and importantly, for FinTech to scale and exit not only to Asia but increasingly, to the Middle East.”
In British Columbia as a whole, the tech industry generated over $23 billion in revenue in 2013 and the Government of British Columbia recently launched the #BCTECH Strategy, investing $100m as part of a BC Tech Fund for early tech startups, and a Knowledge Development Fund to enable research projects.
As a whole, the FinServ industry in Canada only represents 27% of the Internet of Everything market, but 60% of Canadians are prepared to move money to access one or more IoE capabilities. All Canadian provinces have adopted regulations to facilitate e-commerce and protect e-payments, with the Bank of Canada having “responsibility for regulatory oversight of clearing, settling and recording of financial transactions.” Additionally, the Large Value Transfer System and Automated Clearing Settlement System are national systems for clearing and settlement of payments, operated by Payments Canada, based in Ottawa.
This, and the DFI, have launched national startup challenges. “The FinTech Cup”, for example, awards its winners with a $25,000 prize, and are provided a national startup platform to support their development. The private sector launched the annual Fintech Awards in 2015 to recognise key fintechs, innovators, advisors, and stakeholders that have contributed to the fintech ecosystem. In 2016, the Fintech Association of Canada was launched to engage the government with fintech to attract further investment and innovation.
To get an idea of just how expansive Canada’s fintech ecosystem is, here’s a comprehensive list for your viewing pleasure:
• Business Development of Canada (BDC) – Offers financing advisory services and venture capital, dubbing itself the “only financial institution dedicated exclusively to entrepreneurs”.
• Omers Ventures – Omers is one of Canada’s leading pension funds with $65billion + in net assets. It provides resources and expertise to tech, media and telecommunications startups.
• Power Financial Corporation – A management and holding company.
• MaRS Innovation lab – Based in Toronto, it supports over 1700 startups, with 300 being fintech-based. It has raised over $700m in venture capital funding.
• Communitech – Based in the Waterloo area, it is an industry-led innovation centre and a private-public partnership, founded in 1997.
• Ryerson DMZ – In Toronto, this is the top university business incubator, with entrepreneurs-in-residence, industry mentors, and 250+ startups and industry connections.
• OneEleven – A Toronto-based, data-driven tech startup scale-up hub, founded in 2013.
• Thinkubator – A collaboration between Ryerson University and Tangerine, it is an incubation space for fintech startups, founded in 2016.
Wealth management solutions & Robo-advisors
• Nest Wealth – Founded in Toronto in 2014, it is Canada’s first online wealth manager.
• Smart Money Invest – Also founded in 2014, it offers portfolio management services in equity and bond ETFs.
• Wealthsimple – An online investment startup, which expects over a billion dollars in AUM this year. It has 15,000 clients in Canada. It also offers “an affordable, millennial-focused, automated investing service”. Power Financial Corporation invested $10m in Wealthsimple.
• ModernAdvisor – an online financial advisor. If you would like to read more about Canadian robo-advisors, you can read our interview with ModernAdvisor’s Krysten Merriman here.
Payments
In 2014, 21% of Canadians made at least one online payment in the past six months (compared to 83% in China and 33% in the US). In 2015, the Canadian mobile payment transaction market grew 210%.
• Moneris – Founded in 2000 in Toronto, it offers payment solutions and processes credit and debit card transactions (more than 3 billion a year).
• VersaPay – With its HQ in Vancouver and founded in 2006, it is a cloud-based payment processing service.
• TIO Networks – Founded 1997 in Vancouver, it was acquired by PayPal very recently in Feb 17. It offers a bill payment service.
• Payfirma – Based in Vancouver, and founded in 2011, it is a multi-channel payment platform (mobile, in-store, online and e-commerce).
Investment & Asset Management
• Voleo – A social trading app, allowing the user to build an investment team with peers and collaboratively manage a portfolio.
• FrontFundr – Founded in Vancouver in 2013, it is a registered financial services firm which connects investors and entrepreneurs
Here are Canadian startups that made it into the KPMG Fintech100 2016…
#36 – League – Toronto-based, founded in 2014, it lets employers enable employees with health spending accounts and group insurance plans on a mobile app platform, plus you can find health professionals. It uses a digital wallet for payments.
#42 – SecureKey – Founded 2008 in Toronto, it is an identity and authentication platform for online consumer services.
…And the ‘Emerging stars’:
• Grow – Founded in 2014, it is a “complete fintech toolkit” for financial institutions, mainly focused on consumer and SME lending.
• North Side Inc. – A financial AI solution, letting you talk directly to your financial institution, a “personalised virtual telephone banker”.
• Overbond – Founded in 2015, this Toronto-based startup brings bond market participants together, making bond issuance secure and transparent.
You’ve made it – a list as extensive as Canada itself (did you know that it spans 6 time zones? Crazy). Seemingly, if Canadian banks and financial institution are willing to allow for innovation besides their stringent (albeit successful) regulations, then the pre-existing fintech ecosystems in the GTA and British Columbia combined will be able to move ahead with full force. A fintech revolution to match the size of its home.
*Credit to a good friend of mine for the incredible painting of Ryan.
If you have any thoughts about Canadian fintech, let us know in the comments below, or you can tweet us.
Check back soon for more instalments of The Fintech World Series!
The post The Fintech World Series: Canada appeared first on Kurtosys Blog.
http://hvst.co/2luINyhOriginally Published at:The Fintech World Series: Canada || 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 hadtwoseparate 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 settlecivil claims from the Justice Department and environmental regulators, and smooth the ruffled feathers of its U.S. dealers andcustomers. It’s also paid smaller fines in countries such asSouth Korea, which also last week becamethe 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 investigationwith 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.
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 GermanMusterklage,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. regulatorson 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 Septemberas part of a plea bargain. But on Tuesday, the German newspaperSueddeutsche Zeitungreported 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
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• Here's Why Bitcoin Prices Fell Sharply Last Week || Hackers Hijack Hotels Smart Locks, Demand Ransom: A resort hotel in Austria has been the target of a series of hacks, including one that crippled the electronic "smart locks" on guest rooms. The attack prevented guests from accessing their rooms and prevented the issuance of new key cards, highlighting the potential fragility of systems in the so-called "internet of things." Lacking other options, the four-star Seehotel J?gerwirt paid the hackers a modest ransom in Bitcoin to reactivate their systems. In a followup statement to Bleeping Computer , the hotel's Managing Director Christoph Brandst?tter emphasized that no guests were locked into their rooms, because international fire codes mandate that electronic hotel locks must open from the inside even in the event of system failure. Get Data Sheet , Fortune 's technology newsletter. According to the Austrian Broadcasting Corporation (ORF), the key system compromise occurred at the beginning of the current ski season, while the hotel was fully booked. A smaller attack, the fourth that has hit the hotel, occurred earlier this month. During the larger attack, which also compromised the hotel's reservation systems, the hijackers demanded a ransom of 1,500 Euros in Bitcoin before re-activating the compromised systems. Another prior attack, over the summer, was also resolved with the payment of a ransom of "several thousand Euros." Police were not able to uncover clues as to the culprits in the hacks. Brandst?tter told ORF that he was aware of other hotels being the target of similar attacks. Add electronic locks, then, to a target-rich environment that includes the poorly secured webcams and DVRs that powered widespread denial of service attacks in October, and, at least in theory, hackable connected cars . The lakeside hotel has already spent a reported 10,000 Euros on digital security to try and stop hackers. But it also plans to take an unconventional step back in time. According to Brandst?tter, the hotel's next remodeling will include a return to room locks with standard mechanical keys. Story continues See original article on Fortune.com More from Fortune.com Forecasting Yahoo's Foggy Fate Facebook, Uber, Slack, and Pandora Pros Praise Free Security Tools The Best Way for Companies to Prepare for Inevitable Data Breaches: Rehearse Exclusive: ForeScout Preps for Possible IPO Adding McKesson Finance Chief to Board John McAfee's Cybersecurity Investment Firm Received a Subpoena from the SEC || 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)
[Random Sample of Social Media Buzz (last 60 days)]
El #bitcoin está cotizando a 1022.25$ http://bit.ly/1JMFJU3 || Pay 0.1 - 0.49 BTC today, get 10.00 - 49.00 BTC in 20 hours,Forex Trading Profits Bitcoins. http://ow.ly/cV6x309j5Bs || bitcoin investment advice - 1300% After 3 Hours. list of businesses. http://ow.ly/Lf9K3095h3v || RT coindesk: The latest Bitcoin Price Index is 1,017.75 USD http://bit.ly/2feIuHE http://bit.ly/2lUcY1L || Private equity firms double investment in UK tech sector,bitcoin double multiply . http://ow.ly/1Lfr3092YSF || Qtum’s Patrick Dai Talks Smart Contracts and Bitcoin Security https://goo.gl/fb/mPR4ab || #Bitcoin #cryptochan В «Шалтае» нашли украинский след https://cryptochan.org/stream/id/1487338140/ … || $1006.00 #bitfinex;
$1006.99 #bitstamp;
$1007.08 #itBit;
$1006.74 #GDAX;
$989.95 #btce;
#bitcoin news: http://bit.ly/1VI6Yse || 1 KOBO = 0.00000197 BTC
= 0.0018 USD
= 0.5670 NGN
= 0.0242 ZAR
= 0.1868 KES
#Kobocoin 2017-01-27 08:00 || If Bitcoin had the same market.cap as Gold, Apple, Facebook, Silver etc., what would be the Bitcoin price? http://ift.tt/2lphLM8 (via /r…
|
Trend: down || Prices: 1222.50, 1251.01, 1274.99, 1255.15, 1267.12, 1272.83, 1223.54, 1150.00, 1188.49, 1116.72
|
Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
UK Stats Sink the Pound, with the FTSE100 Set for an Early Fall: It was a busy morning on the UK economic calendar. GDP, manufacturing and industrial production, and trade data were in focus this morning. In February, industrial production fell by 0.6% and manufacturing production by 0.4%. Economists had forecast both to increase by 0.3%. GDP numbers also disappointed. In February, the UK economy expanded by just 0.1%, falling short of a forecasted 0.3%. The economy grew by 0.8% in January. According to the Office for National Statistics , Services grew by 0.2% and was the main contributor to growth. Tourism-related industries were the key drivers. Production fell by 0.6% and construction by 0.1%. The monthly GDP is 1.5% above its pre-COVID-19 pandemic level, driven by a rebound in service sector activity. Services is up 2.1% above its pre-coronavirus level, while production is 1.9% below. Things were not much better on the trade front, with the UK’s Non-EU trade deficit widening from £11.64bn to £12.14bn. Market Impact Ahead of today’s stats, the Pound had risen to a pre-stat and a current-day high of $1.30398 before hitting reverse. In response to today’s stats, the Pound tumbled from $1.30211 to a current-day low of $1.29888 before finding support. At the time of writing, the Pound was down 0.26% to $1.30002. Things were not much better for the FTSE100 ahead of the open. At the time of writing, the FTSE100 Futures was down by 12.5 points to 7,608.00, with the DAX and the CAC40 also set to open in the red. China inflation figures from earlier in the day and news updates on China’s lockdown measures were market negative. In March, China’s annual rate of inflation picked up from 0.9% to 1.5%, with sanctions on Russia and China’s response to rising COVID-19 cases pressuring supply chains. Economists had forecast an annual inflation rate of 1.2%. This article was originally posted on FX Empire More From FXEMPIRE: Binance Gets Preliminary Approval For Abu Dhabi Operations UK Stats Sink the Pound, with the FTSE100 Set for an Early Fall Robinhood Remains Under Pressure To List Shiba Inu Big Challenge for WTI Bulls on Test of $94.14 – $86.52 EUR/USD Tests Resistance At 1.0900 LUNA Foundation Guard Becomes Nineteenth Largest Bitcoin (BTC) Holder || SEC Orders BlockFi to Pay $100 Million in Penalties: The Securities and Exchange Commission (SEC) charged Peter Thiel-backed BlockFi with failing to register the offers and sales of its retailcryptolending product, and the company agreed to pay a $50 million penalty and an additional $50 million in fines to 32 states to settle similar charges, according to Feb. 14 press release from the SEC.
See:5 Biggest Mistakes To Avoid When Filing Taxes for CryptoFind:Coinbase Crashes After ‘Crypto Bowl’ Ad, Stock Dips Then Rebounds
In addition, to settle the SEC’s charges, BlockFi agreed to cease its unregistered offers and sales of its lending product, BlockFi Interest Accounts (BIAs), and attempt to bring itsbusinesswithin the provisions of the Investment Company Act within 60 days.
“This is the first case of its kind with respect to crypto lending platforms,” SEC Chair Gary Gensler said in the announcement. “Today’s settlement makes clear that crypto markets must comply with time-tested securities laws, such as the Securities Act of 1933 and the Investment Company Act of 1940. It further demonstrates the Commission’s willingness to work with crypto platforms to determine how they can come into compliance with those laws. I’d like to thank and commend our remarkable SEC staff and state regulators for their efforts and collaboration on this settlement.”
As part of this resolution, BlockFi intends to file or confidentially submit a registration statement on Form S-1 with the SEC for the offering of BlockFi Yield (BY), which is anticipated to be the first SEC-registered crypto interest-bearing security, BlockFi said in a statement on its website.
Discover:Coinbase vs. Binance: Which Cryptocurrency Exchange Is Better?
According to the SEC’s order, from March 4, 2019 until present BlockFi had offered and sold BIAs to the public. Through BIAs, investors lent crypto assets to BlockFi in exchange for the company’s promise to provide a variable monthly interest payment, the SEC said. The order finds that BIAs are securities under applicable law, and the company therefore was required to register its offers and sales of BIAs — but failed to do so, or to qualify for an exemption from SEC registration. Additionally, the order finds that BlockFi operated for more than 18 months as an unregistered investment company because it issued securities and also held more than 40% of its total assets, excluding cash, in investment securities, including loans of crypto assets to institutional borrowers.
The order also finds that BlockFi made a false and misleading statement for more than two years on its website concerning the level of risk concerning its loan portfolio and lending activity, according to the SEC.
“From the day we started BlockFi, we have always known that strong engagement with regulators would be critical for the adoption of financial services powered by cryptocurrencies,” Zac Prince, CEO and founder of BlockFi, said in a statement. “Today’s milestone is yet another example of our pioneering efforts in securing regulatory clarity for the broader industry and our clients, just as we did for our first product — the crypto-backed loan. We intend for BlockFi Yield to be a new, SEC-registered crypto interest-bearing security, which will allow clients to earn interest on their crypto assets.”
Learn:Bitcoin Payroll: The Future of Hiring? Crypto Benefits Plan Could Attract Workers and Improve Employee RetentionExplore:How Much You Would Have If You Invested Your Stimulus Money in Cryptocurrency
SEC commissioner Hester Pierce released a statement as well, asking whether “the approach we are taking with crypto lending [is] the best way to protect crypto lending customers? I do not think it is, so I respectfully dissent.”
“As an initial matter, it is difficult to understand how the civil penalty will protect investors. BlockFi will pay the SEC $50 million, and will pay another $50 million in connection with state settlements for the same conduct,” Pierce said in the statement. “While penalties this size are intended to deter bad conduct, here there is no allegation that BlockFi failed to pay its customers the money due them or failed to return thecryptolent to it. BlockFi’s misrepresentations about over-collateralization are serious, but the combined $100 million penalty nevertheless seems disproportionate.”
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This article originally appeared onGOBankingRates.com:SEC Orders BlockFi to Pay $100 Million in Penalties || CORRECTED-Cryptoverse: The young HODLers keeping bitcoin on an even keel: (Corrects surname in third-from-last paragraph to Brown)
By Lisa Pauline Mattackal and Medha Singh
March 8 (Reuters) - Bitcoin's been known to freak out when Elon Musk tweets a broken-heart emoji. So why isn't it flying off the handle as we seem to stand on the precipice of World War 3?
That could be down to the new HODLers, in part.
Young retail investors betting on bitcoin as a long-term proposition rather than for quick gains are swelling the ranks of these true believers, whose name emerged years ago from a trader misspelling "hold" on an online forum.
This trend could help stabilise the notoriously volatile crypto market and potentially provide a long-term floor, according to some market watchers who point to the fact bitcoin is up about 5% versus before the Russian invasion.
A study by multi-asset retail investment platform eToro, which says it has millions of users, found that those aged 18 to 34 were far more likely to invest in crypto than anyone else, with 66% of that age bracket owning bitcoin and other digital currencies. That's up from 46% last July.
Perhaps more tellingly, more than a third of those invested in crypto said they believed in its long-term value as "a transformative asset class".
Callie Cox, eToro U.S. investment analyst, described these people as "HODLers in a nutshell".
"People who believe in the technology, they're going to be less likely to sell when scary headlines cross the tape," she said, adding that she expected to see more retail investors buying future dips in crypto prices.
While the eToro poll of 8,000 investors only provides a snapshot, the findings chime with other platforms. Crypto exchange Currency.com says 31% of its clients are aged between 23 and 30 years, and 20% between 18 and 20, for example, while another exchange Busha says its average trader is aged between 18 and 40.
Larissa Bundziak typifies the young HODLer.
"I don't think crypto is a get-rich-quick kind of thing. That's not the whole story," said the 28-year-old Ukrainian public relations professional who is based in the United States.
She saw her bitcoin investment crash from $19,000 in late 2017 to near $3,000 by January 2019, but said she "kept putting money in, and then all of a sudden, it was going to $60,000". She plans to keep increasing her holdings.
"It's about being able to send it as and when I want to, to my family in Ukraine or wherever I want to in the world, and not have my money made by a bank or a third party where I don't know what's going on with it," she said.
EXPECT THE UNEXPECTED
Any doubts that the retail trader can be a powerful and contrarian force in financial markets were dispelled last year when hordes of small investors drove "meme stocks" such as GameStop to dizzying heights.
For bitcoin, a growing cohort of retail investors digging for the long haul could compound the stabilising effect of long-term investors also doubling down on its stashes of the cryptocurrency.
As Russian troops advanced into Ukraine on Feb. 24, bitcoin initially dropped 14% to around $34,000. It has however risen 15% since.
This seems relatively gentle for an asset prone to wild and unpredictable swings over the years. But be warned: If bitcoin has taught us anything, it is to expect the unexpected.
Musk seems to have particular power; bitcoin dropped 35% in the month of May last year after he said Tesla would no longer accept the cryptocurrency for car purchases; it fell anew in June after he posted "#Bitcoin", a broken-heart emoji and a picture of a couple discussing a breakup.
PROFILE OF A CRYPTO TRADER
Another demographic trend of the crypto market is also becoming clear: Traders skew male.
The eToro survey showed 38% of male investors own crypto, for example, versus just 19% of female investors.
A survey by U.S. brokerage Robinhood found that 41% of women investors said they never have and never would invest in crypto, versus 24% of male investors.
"The gender investing competence gap is a real thing and it remains even through there was a lot of interest and retail involvement in the crypto market last year," said Christine Brown, chief operating officer of Robinhood's crypto business.
There could be varied reasons for the male skew, say market players.
"Crypto is at the intersection of finance and technology, which are in themselves male-dominated industries," said Ophelia Snyder, co-founder of Swiss-based provider of crypto products 21Shares & Amun Tokens.
(Reporting by Lisa Mattackal and Medha Singh in Bengaluru, Alun John in Hong Kong; Editing by Vidya Ranganathan and Pravin Char) || Super Bowl ad blitz not enough for exchanges to top Binance sales: The aggregate sales volume of the four crypto exchanges that advertised during the Super Bowl on Monday Asia time accounted for under 60% of the worlds largest exchange Binance, which did not. Fast facts The four exchanges Coinbase, FTX, Crypto.com and BitBuy saw a total of US$6.75 billion in the past 24 hours from publishing time, compared to Binances US$11.5 billion, according to data from CoinMarketCap . Advertising during the Super Bowl, especially during the halftime break, is considered one of the most valuable advertising spots in media, with a 30-second slot coming with a US$6.5 million average price tag this year. Around 36 million U.S. households watched the game , while 29 million households tuned in for the half-time music performance which included Snoop Dogg, Eminem and Mary J. Blige. Crypto advertising in sports has hit the big leagues over the past year with several major sponsorships, including the renaming of the iconic Staples Center in Los Angeles to Crypto.com Arena last December in a US$700 million deal. Bitcoins price didnt change much since the Super Bowl, rising 1.2% in the past 24 hours, while Ether went up 1.9%. NFT sales volumes dropped by 30.3% in the same time frame, according to CryptoSlam data. || Biden orders government to study digital dollar, other cryptocurrency risks: By Andrea Shalal and Katanga Johnson WASHINGTON (Reuters) - U.S. President Joe Biden signed an executive order on Wednesday requiring the government to assess the risks and benefits of creating a central bank digital dollar, as well as other cryptocurrency issues, the White House said. Bitcoin surged on the news as the administration's holistic and deliberative approach calmed market fears about an immediate regulatory crackdown on cryptocurrencies. In midday trading, bitcoin rose 9.1% to $42,280, on track for its largest percentage gain since Feb. 28. Biden's order will require the Treasury Department, the Commerce Department and other key agencies to prepare reports on "the future of money" and the role cryptocurrencies will play. Wide-ranging oversight of the cryptocurrency market, which surged past $3 trillion in November, is essential to ensure U.S. national security, financial stability and U.S. competitiveness, and stave off the growing threat of cyber crime, administration officials said. Analysts view the long-awaited executive order as a stark acknowledgement of the growing importance of cryptocurrencies and their potential consequences for the U.S. and global financial systems. "The growth in cryptocurrencies has been explosive," Daleep Singh, deputy national security adviser for economics, said in an interview with CNN. Cryptocurrencies and digital assets can affect how people access banking, whether consumers are safe and protected from volatility, and the primacy of the U.S. dollar in the global economy, he said. The executive order is part of an effort to promote responsible innovation but mitigates the risk to consumers, investors and businesses, Brian Deese, director of the National Economic Council, and Jake Sullivan, White House national security adviser, said in a statement. "We are clear-eyed that 'financial innovation' of the past has too often not benefited working families, while exacerbating inequality and increasing systemic financial risk," they said. Story continues One key objective is to redress inefficiencies in the current U.S. payments system and boost financial inclusion, especially of poor Americans, about 5% of whom do not currently have bank accounts due to high fees, one official said. Another key measure directs the government to assess the technological infrastructure needed for a potential U.S. Central Bank Digital Currency (CBDC) - an electronic version of dollar bills in your pocket. But it could take years to develop and introduce a "digital dollar," administration officials cautioned on Wednesday, noting that the Federal Reserve in January had referred the issue to Congress. Administration officials said the United States was taking great care to decide whether - and how - to move forward with developing a digital dollar, given the dollar's role as the world's primary reserve currency. "We've got to be very, very deliberate about that analysis because the implications of our moving in this direction are profound for the country that issues the world's primary reserve currency," one of the officials said. The order also encourages the Federal Reserve to continue research and development efforts. Nine countries have launched central bank digital currencies, and 16 others - including China - have begun development of such digital assets, according to the Atlantic Council https://www.atlanticcouncil.org/cbdctracker, leading some in Washington to worry that the dollar could lose some of its dominance to China. The U.S. dollar remains underpinned by key fundamentals, including a commitment to transparency, the rule of law and the full independence of the Federal Reserve, the official said. "The dollar's role has been and will continue to be crucial to the stability of the international monetary system as a whole. Foreign central bank digital currencies and their introduction by themselves do not threaten this dominance," the official said. Asked whether China could develop a competitive advantage if it moved sooner, one administration official said U.S. officials would monitor developments with an eye to maintaining the centrality of the dollar in the global economy. The order asks for over a dozen reports, including by the Securities and Exchange Commission and the Consumer Financial Protection Bureau, to assess issues raised by cryptocurrencies, including systemic risk and consumer protection. One key objective is to redress inefficiencies in the current U.S. payments system and boost financial inclusion, especially of poor Americans, about 5% of whom do not currently have bank accounts due to high fees, an official said. Industry executives, including Blockchain Intelligence Group's chief Lance Morginn, called the order shortsighted as it replaces industry request for a more broad U.S. embrace of crypto with more analysis and reporting. "We're at a pivotal time in history where the world is watching how digital assets are being used in nation-building and how digital assets are creating transparency into financial transactions like never seen before," Morginn said. "If the U.S. government takes too long to adopt policies toward digital assets, they run the risk of the industry moving to other financial capitals that are prioritizing blockchain technology." Chairs of financial regulatory agencies, including the CFPB and the SEC, welcomed the move and said they would fully comply. (Reporting by Andrea Shalal and Katanga Johnson; Additional reporting by Doina Chiacu; Editing by Michelle Price, Simon Cameron-Moore, Mark Porter & Shri Navaratnam) || U.S. yields jump to 3-year highs, stocks slide on CPI outlook: By Herbert Lash
NEW YORK (Reuters) - Global stock markets fell on Monday, pulled lower by technology shares in Europe and on Wall Street, as U.S. Treasury yields jumped ahead of inflation data that could prompt the Federal Reserve to tighten policy enough to slow a rebounding economy.
The euro rose against the dollar to snap a seven-day losing streak as the single currency rallied after French leader Emmanuel Macron beat far-right challenger Marine Le Pen in France's first round of presidential voting on Sunday.
The dollar held just below almost two-year highs against a basket of currencies and strengthened against the Japanese yen, up 0.88%, and versus the commodity currencies - the Canadian, Australian and New Zealand dollars.
The yield on benchmark 10-year Treasuries rose more than 7 basis points to 2.793%, the highest level since January 2019.
Yields have surged in anticipation of Fed rate hikes, which Dec Mullarkey, managing director of investment strategy and asset allocation at SLC Management, expects to be by 50 basis points at each of the Fed's next three policy meetings.
"The Fed is going to move aggressively. The market has appropriately priced it in," Mullarkey said.
"They don't want to be an issue in the midterms," Mullarkey added, referring to elections in November that will determine whether Republicans can wrest control from President Joe Biden's Democrats in the U.S. Senate and House of Representatives. "They also do not want to be in the position where they don't have inflation under control."
Economists polled by Reuters forecast the U.S. consumer price index (CPI) on Tuesday would post an 8.4% year-over-year increase in March. Separately, they also saw the probability of a recession next year at 40%.
Technology shares, which have been underpinned by record low interest rates, fell 2% in Europe and 2.6% on Wall Street.
MSCI's gauge of stocks across the globe closed down 1.33% and the pan-European STOXX 600 index slid 0.59% as regional bourses fell with the exception of France's CAC 40.
On Wall Street, the Dow Jones Industrial Average fell 1.19%, the S&P 500 lost 1.69% and the Nasdaq Composite dropped 2.18%. All 11 S&P 500 sectors fell.
Volatility gripped French blue chips on the outlook for a tight Macron-Le Pen race in the final round of voting. French assets have underperformed as markets are uneasy about Le Pen's agenda of protectionism, tax cuts and nationalization.
The CAC 40 index, which is off 1.5% so far in April as the STOXX 600 gains about 0.4%, closed up 0.12%.
"I don't expect the French equity markets to rally until we have the second round - we expect a lot of volatility and range-bound trading," said Mathieu Racheter, head of equity strategy at Julius Baer. "It is really a close call in the runoff."
Overnight in Asia, MSCI's broadest index of Asia-Pacific shares outside Japan fell 1.6% and the Nikkei 225 in Tokyo slid 0.61%.
Oil prices dropped by $4 a barrel, with Brent tumbling below $100 on plans to release record volumes of crude from strategic reserves and on continuing COVID-19 lockdowns in China.
U.S. crude futures fell $3.97 to settle at $94.29 a barrel while Brent settled down $4.30 at $98.48.
Palladium steadied after jumping as much as 5% on supply concerns following a recent suspension on trading of the metal sourced from Russia in the London metals hub, while gold was buoyed by inflation fears.
U.S. gold futures settled up 0.1% at $1,948.20 an ounce.
Bitcoin fell 5.66% to $39,748.60.
China's inflation figures surprised on the high side on Monday although they were still relatively modest at 1.5% year-on-year in March.
But that still saw yields on China's 10-year government bonds fall below U.S. Treasury yields for the first time in 12 years on Monday.
GRAPHIC: US-China https://fingfx.thomsonreuters.com/gfx/mkt/myvmnqlakpr/us-china.JPG
(Reporting by Herbert Lash, additional reporting by Samuel Indyk and Elizabeth Howcroft in London, Sruthi Shankar in Bengaluru; Editing by Philippa Fletcher, Angus MacSwan, Will Dunham and David Gregorio) || Market Wrap: Bitcoin Rebounds Amid Lower Volatility, Altcoins Outperform: Don't miss CoinDesk'sConsensus 2022, the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12.
Bitcoin (BTC) returned to above $45,000 on Friday as volatility faded.
Alternative cryptocurrencies (altcoins) were also higher, especiallyAAVE, which posted a 20% gain over the past 24 hours (up 60% over the past week) because of the platform's version 3 (v3) upgradeearlier this month. Ether (ETH) was up 4% over the past 24 hours, compared with a 9% rise in Solana'sSOLtoken and a 1% rise in BTC over the same period.
Sign up forMarket Wrap, our daily newsletter explaining what happened today in crypto markets – and why. Coming April 4.
Meanwhile, stocks traded lower for most of the New York trading day as investors positioned themselves for aggressive monetary policy tightening because ofstrong U.S. employment data. Low interest rates and central bank stimulus contributed to rising asset prices. When inflation rises and the economy overheats, however, central banks reverse accommodative policies, which typically leads to higher market volatility.
In the bitcoin futures market, an uptick in short liquidations occurred over the past 24 hours because of the cryptocurrency's price jump.Liquidationshappen when an exchange forcefully closes a trader’s leveraged position as a safety mechanism due to a partial or total loss of the trader’s initial margin.
Still, the ratio of buy/sell volume was slightly negative on Friday, indicating low conviction among crypto traders despite BTC's price rise.
●Bitcoin(BTC): $46327,+1.52%
●Ether(ETH): $3463,+5.31%
●S&P 500 daily close: $4546,+0.34%
●Gold: $1927 per troy ounce,−1.14%
●Ten-year Treasury yield daily close: 2.38%
Bitcoin, ether and gold prices are taken at approximately 4pm New York time. Bitcoin is the CoinDesk Bitcoin Price Index (XBX); Ether is the CoinDesk Ether Price Index (ETX); Gold is the COMEX spot price. Information about CoinDesk Indices can be found atcoindesk.com/indices.
Bitcoin's trading volume across major exchanges remains relatively low, according to CoinDesk data, despite trading activity tending to increase around the first and last weeks of the month.
The chart below shows large volume spikes, which typically occur during price drops. Some analysts noticed that BTC tends to decline around the beginning of the month before a recovery unfolds, similar to what occurred in February and March.
The chart below shows a decline in the bitcoinput/call ratio, which suggests less bearish sentiment among option traders. The ratio has stabilized over the past two weeks, which could precede higher volatility, especially if BTC breaks above or below its short-term trading range.
The options market is placing a 55% probability that BTC will trade above $44,000 in May, according to data provided bySkew. And calls outweigh puts at strike prices above $45,000.
• GMT price surge:The three-week-old GMT rose by as much as 52% on Friday to highs of $3.11. GMT is the governance token of Stepn, a fitness app that allows users to access in-game features, such as being able to mint virtual sneakers, upgrade “gems” and participate in governance voting. Read morehere.
• Axie Infinity delays launch of 'Origin' game:Axie Infinity developer Sky Mavisdelayed the launchof its highly anticipated “Origin” upgrade from March 30 to April 7 afterhackers stole $625 millionfrom the underlying Ronin blockchain earlier in the week. Read morehere.
• Metaverse economy could grow to $13 trillion by 2030:Getting to that market level is going to require sizable infrastructure investment, Citi said in a report on Thursday. It is possible that the “metaverse is moving towards becoming the next generation of the internet or Web 3," Citi said. Read morehere.
• Elizabeth Warren Calls for US to Create a CBDC: "I think it's time for us to move in that direction," the Democratic senator told NBC's Chuck Todd, in an interview that was aired Thursday night.
• SEC Rejects Spot Bitcoin ETF Application From Ark 21Shares: The move continues a recent string of denials by the SEC of applications for spot bitcoin ETFs.
• Does the Metaverse Need a Free Trade Agreement?: It’s seeking to be the centerpiece of Web 3, but a successful metaverse could run headfirst into some old-style protectionist barriers, Sam Lowe, a trade policy consultant at Flint Global, said in an interview with CoinDesk.
• Bitcoin Miner PrimeBlock Plans to Go Public With $1.25B SPAC Merger: The merger is expected to be closed in the second half of 2022 and the merged company will trade on the Nasdaq.
• US Adds 431K Jobs in March, as Unemployment Rate Nears Pre-Pandemic Level: Job growth continued in March as the U.S. unemployment rate dropped toward pre-pandemic levels, further tightening the labor market at a time when inflation is rising.
Digital assets in the CoinDesk 20 ended the day higher.
[{"Asset": "Solana", "Ticker": "SOL", "Returns": "+11.5%", "Sector": "Smart Contract Platform"}, {"Asset": "Ethereum", "Ticker": "ETH", "Returns": "+5.5%", "Sector": "Smart Contract Platform"}, {"Asset": "Internet Computer", "Ticker": "ICP", "Returns": "+5.2%", "Sector": "Computing"}]
[{"Asset": "Stellar", "Ticker": "XLM", "Returns": "\u22121.2%", "Sector": "Smart Contract Platform"}]
Sector classifications are provided via theDigital Asset Classification Standard (DACS), developed by CoinDesk Indices to provide a reliable, comprehensive, and standardized classification system for digital assets. TheCoinDesk 20is a ranking of the largest digital assets by volume on trusted exchanges. || Crypto Miners to Benefit From Biden’s Executive Order: Jefferies: President Joe Biden's executive order on crypto regulation appears to be broadly supportive of the digital asset industry, including crypto miners, and seeks to put the U.S. “ahead of the curve” as crypto becomes a more important part of the global economy, said Jefferies (JEF) analyst Jonathan Peterson in a note to clients.
• “We believe the fact that the U.S. government is now more formally recognizing, engaging with and seemingly supporting the digital asset industry will be a positive for public crypto mining companies,” he said.
• Peterson noted the contrast between the U.S. and China, which last summer banned crypto mining altogether and drove a wave of new investment in North America. “We see this [executive] order as another indicator that the regulatory environment in the U.S. is more supportive of miners and cryptocurrencies,” he added.
• Peterson reiterated buy ratings on miners Argo Blockchain (ARBK) and Marathon Digital (MARA). Shares of both are higher by about 15% at the same time as a 9% advance for bitcoin (BTC). However, shares of the miners remain lower by more than 30% for the year to date, while bitcoin's price is down about 16%.
• Other crypto-related companies seeing movement on their shares include Coinbase (COIN) up 9%, and Galaxy Digital (BRPHF) ahead 11%.
Read more:Biden Issues Long-Awaited US Executive Order on Crypto || Gold Stays Range-Bound As Treasury Yields Rise: Key Insights Higher Treasury yields put some pressure on precious metals. Gold continues consolidation after the recent pullback. A move back above the $2000 level will push gold towards the resistance at $2020. Traders Wait For Additional Catalysts Gold remains stuck in the range between the support at $1975 and the resistance at $2000, while traders wait for new catalysts that could boost demand for safe-haven assets. Global markets remain volatile. WTI oil has recently managed to settle back above $107 after an unsuccessful attempt to settle below the $105 level, while S&P 500 futures are moving lower in premarket trading. Uncertainty persists, which is typically bullish for gold. However, it looks that gold markets may need more time to stabilize after the recent pullback before gold will be ready to gain upside momentum again. I’d also note that the recent inflation reports from the U.S., which indicated that Inflation Rate increased by 7.9% year-over-year in February, pushed Treasury yields higher. The yield of 2-year Treasuries is currently trying to settle above 1.71%, while the yield of 10-year Treasuries is close to the 2.00% level. Higher yields may put some pressure on precious metals in the upcoming trading sessions. Technical Analysis Gold faced significant resistance near $2000 and continues to trade below this level. The nearest support level for gold is located at $1975. In case gold manages to settle below this support level, it will head towards the support at $1950. A successful test of the support at $1950 will push gold towards the next support at the 20 EMA near $1940. If gold declines below the 20 EMA, it will gain additional downside momentum and head towards the support at $1915. On the upside, gold needs to settle above $2000 to have a chance to gain upside momentum in the near term. The next resistance level for gold is located at $2020. If gold settles above this level, it will move towards the resistance at $2050. A successful test of the resistance at $2050 will open the way to the test of the resistance at $2075. 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 1.1000 Singapore Finance Minister Confirms Income Tax Will Apply to NFTs Daily Gold News: Friday, Mar. 11 – Gold Price Gets Back Below $2,000 Again U.S. DOL Issues Warning While Considering Crypto in Retirement Plan Bitcoin and ETH Eye Fresh Increase, DOT Signals Massive Breakout Stripe Re-Initiates Crypto Support As It Partners With FTX || Dear Biotech Investors: Novavax’s Comparable Vaccine Matters: Few scientists offered a thorough comparison among the Covid-19 vaccines up until now. In a rarehead-to-head comparison, scientists comparedNovavax’s(NASDAQ:NVAX) vaccine toJohnson & Johnson(NYSE:JNJ), Pfizer (NYSE:PFE), andModerna(NASDAQ:MRNA). The findings will give the public more insight into which vaccine provides the best protection. Investors may interpret the information to infer how those companies will design vaccines in the future. NVAX stock could benefit the most from the comparative study. After almost two years when competitors distributed vaccines worldwide, Novavax is just starting. What do the results tell investors?
Researchers compared the four vaccines using 14 metrics. This includes levels of T cells and B cells. Those are key immune cells. They also looked at neutralizing antibodies in subjects. The study is a milestone in the world’s fight against the pandemic. Researchers used the same techniques among all the vaccines they investigated. Previously, companies issued results with comparable variables and environments that differed. Biotech investors comparing Novavax’s vaccine against the others had no way to conclude the data.
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Researchers split the vaccines into three classes. Moderna and Pfizer based their vaccine on messenger RNA. Johnson & Johnson produced a viral vector vaccine. Novavax used pieces of the SARS-CoV-2 spike protein. They found that subjects receiving Novavax’s two-shot treatment elicited an antibody response comparable to that of mRNA vaccines. Yet researchers found CD8+ T cell levels were low to undetectable.
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Conversely, the three other vaccines had good results. Novavax shareholders need not fear the data. Already, nearly 40 countries authorized Novavax’s vaccine. Canada secured 3.2 milliondoses of the Novavax vaccine. The Canadian government signed a deal to produce Novavax’s vaccine domestically. It will construct a manufacturing plant in Montreal. Health Canada said that Novavax’s treatment gives people an option for a protein-based vaccine. It is also available for those unable to receive an mRNA vaccine. For example, J&J’s vaccine hasa higher risk ofthrombocytopenia syndrome (TTS). They are good candidates for the Novavax vaccine.
Novavax’s government orders for the vaccine will not move the stock price these days but the news matters. The pandemic is far from over. Countries need to plan for an annual or semi-annual vaccination strategy to prevent another breakout. Watch for NVAX stock to rise steadily as investors add coronavirus vaccine companies to their portfolios.
On the date of publication, Chris Lau did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines.
Chris Lau is a contributing author for InvestorPlace.com and numerous other financial sites. Chris has over 20 years of investing experience in the stock market and runs the Do-It-Yourself Value Investing Marketplace on Seeking Alpha. He shares his stock picks so readers get original insight that helps improve investment returns.
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The postDear Biotech Investors: Novavax’s Comparable Vaccine Mattersappeared first onInvestorPlace.
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: no change || Prices: 40424.48, 39716.95, 40826.21, 41502.75, 41374.38, 40527.36, 39740.32, 39486.73, 39469.29, 40458.31
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis for 2018-10-01]
BTC Price: 6589.62, BTC RSI: 49.57
Gold Price: 1187.10, Gold RSI: 42.44
Oil Price: 75.30, Oil RSI: 72.60
[Random Sample of News (last 60 days)]
Bitcoin Magazine’s Week in Review: Rejections and Reflections: This week in the industry, we saw the gears of government and regulation grinding, we check in on some mining news and we take a moment to reflect on the state of the market and industry innovation. Here are some ofBitcoin Magazine’s top bitcoin, blockchain and cryptocurrency news stories for the week.
Stay on top of the best stories in the bitcoin, blockchain and cryptocurrency industry.Subscribe to our newsletter here.
Not a Done Deal: U.S. SEC “Will Review” Most Recent ETF Decisions
China Blocks Access to Over 120 Offshore Digital Currency Exchanges
WeChat Shuts Down Numerous Crypto Media Accounts
Top Crypto Exchanges Join Winklevosses’ Self-Regulatory Organization
This Wednesday, the United States Securities and Exchange Commission released orders on nine bitcoin exchange traded fund (ETF) proposals. Each of the three orders, like those that preceded them,shot downall of the ETFs in question.
But these decisions, the SECrevealedthe next day, are now up for review. This development has offered a glimmer of hope for the industry in its slow-slog toward a bitcoin-backed, exchange-traded product.
In the march toward clearer crypto regulation in the States, exchanges have taken the lead in an attempt to quicken the pace. The Virtual Currency Association, a self-regulatory organization spearheaded by the Winklevosses and their Gemini exchange,added three new membersthis week. With these latest additions, the VCA continues to work toward its goal of “establishing an industry-sponsored, self-regulatory organization (SRO) to oversee virtual commodity marketplaces,” in advance of a summit to be held this September.
While the U.S. grapples with regulations and oversight for its own virtual currency markets, the Chinese government is looking to siphon its citizens’ access to crypto trading venues. Chinese officialsshuttered accessto over 120 offshore exchanges this week, an extreme measure to accompany thecomprehensive banit effected on domestic ICOs in September 2017.
Meanwhile in the private sector, WeChat is assisting the government with its crackdown. The number one messaging platform in Chinapurged crypto and blockchain media accountsfrom its services this week, citing the government’s policies toward ICOs as justification for the bans.
SoftBank Denies Reports of Bitmain Deal; Bitmain Still Silent
Mining Like a Viking: How the Fjords of Norway Offer a Greener Alternative
All eyes were on Bitmain this week, as public and media scrutiny continues to pick apart the details of the Chinese mining behemoth’s forthcoming public offering.
After reports surfaced last week claiming that Japanese telecom company Softbank and Chinese internet provider Tencent had invested in Bitmain via a private pre-IPO funding round, a handful of companies came forward this weekto deny their involvement.
In afeature article, Bitcoin Magazine’s Colin Harper took a trip to Norway to survey the work of Northern Bitcoin, a German mining company that has taken advantage of the abundance of renewable energy Norway’s fjords produce.
Situated in Lefdal Mine, a defunct mine turned data center in Måløy, the 3,250 miner strong ASIC mining farm operates at nearly half the electricity cost of its competitors and with zero CO2 emissions. It’s a reminder that, with the right infrastructure and a tinge of creativity, bitcoin mining can be more sustainable than its critics suggest.
New Research Claims Satoshi Mined Far Fewer Bitcoins Than Previously Thought
Op Ed: Making Friends With Time in the Cryptocurrency Space
Ever since Bitcoin developer Sergio Lerner presented compelling evidence on the topic in 2013, the Bitcoin community has assumed that Satoshi Nakamoto mined — and held on to — roughly 1,000,000 bitcoin during the network’s inaugural year.New evidencefrom Bitmex research, on the other hand, suggests that this figure may be in the ballpark of 600,000-700,000 BTC.
Finally, IOST CEO Jimmy Zhongreminds usof the importance of perspective in times of market anemia. These are the times, Zhong argues, that real growth can be realized, and that those who focus their efforts on development despite the downturn will be better for it when things start to look up again.
“Life is a long journey. We often say that choice is more important than effort. We also need to understand that desire and choices only pull through with persistence. I hope we can have faith in our common choice, the future of technology, the power of market cycles; remain unwavering in the face of swaying market sentiment; make independent and clear-headed judgments; and, together, build something people truly want,” Zhong writes.
This article originally appeared onBitcoin Magazine. || Up 80%: XRP's September Wasn't Just Bullish, It Was Record-Setting: XRP sprang back to life in September despite a relatively bearish broader market.
Over the course of the 30-day period, the price of the world's largest cryptocurrency, bitcoin (BTC), dipped a modest 5 percent.ÂMost cryptocurrencies succumbed to the same fate, butÂsome were able to pick up a bid. However, none saw bigger gains than XRP, whose performance in SeptemberÂwasn't just bullish, it was record-setting.
On September 21 alone, the price of XRP shot up more than75 percentand ended the day with its most trading volume ever recorded on the popular cryptocurrency exchange, Bitfinex.
Bitcoin Price Makes Second Straight Monthly Loss in September
Further, the explosive move allowed XRP to overtake ETH as the world's second largest cryptocurrency by market capitalization, a feat itÂlast accomplishedin December of 2017.Â
It should be noted that the surge in price perhaps had some speculative backing.ÂThe price run-up in XRP was likely catalyzed by anticipation of Ripple's upcoming Swell conference scheduled to set off on Oct. 1. The conference is designed to highlight Ripple's product line andÂrevved up investor interestlast year ahead of its inaugural launch.
Still, XRP concluded September boasting a near 80 percent month-over-month price increase to cement it as the best monthly performer out of the world's 25 largest cryptocurrencies by market capitalization.Â
XRP
This Meme Marketplace Uses Dummy Tokens to Draw Users in a Bear Market
Monthly performance:+79 percentAll-time high:$3.70Closing price on September 31:$0.59Rank as per market capitalization:2
XRP was most productive from Sept 18â22 when its price surged more than 150 percent from $0.27 to a three-month high of $0.69, according toCoinMarketCap. Further, it's high in market capitalization, $24 billion, helped catapult it above ETH as the world's second largest cryptocurrency.
Several bullish developments took place on the daily chart over the course of September.
On September 18th, price broke bullish out of a large falling wedge pattern, hinting a bullish reversal was soon to be likely. On the cryptocurrency exchange, Poloniex, the price went on to surge 145 percent from its close of $0.31 on September 18 to a high of $0.77 on Sept 21.
The surge quickly pushed therelative strength index(RSI) value into overbought territory, indicating the bulls were reaching temporary exhaustion. That said, the RSI has since cooled off and its price formed a bullish pennant very similar to that of its structure in mid-December of 2017.
Lastly, the Guppy Multiple Moving Average indicator (GMMA) has flipped green on the daily time frame for the first time in nearly 11 months. That indicator uses groups of moving averages to identify changes in a trend and the indicator flipping green is bullish and considered a buy signal.
The falling wedge breakout, acceptance above the 200-day EMA, pennant formation and green Guppy, all favor a rally in XRP back toward its recent high of $0.77 on Poloniex.
The cryptocurrency might see a "sell the news" pullback after the Swell conference. However, the technical bias would remain bullish as long as XRP is trading above its daily higher low of $0.43.
Soon before press time, XRP was trading at $0.58, according to CoinMarketCap.
Disclosure:The author holds BTC, AST, REQ, OMG, FUEL, 1st and AMP at the time of writing.
XRP logo image via Shutterstock; Charts viaTradingViewÂ
• New Ripple-Led Advocacy Group to Pay DC Lobbyists in XRP
• Bitcoin Breakout Elusive As Price Retreats from One-Week Highs || Texas Regulators Shut Down Three Cryptocurrency Scams: The Texas State Securities Board hasissuedan emergency action to halt the deceitful offerings of investments in three cryptocurrency related schemes.
The agency entered a cease and desist order against Coins Miner Investment Ltd, DigitalBank Ltd, as well as Ultimate Assets, who is charged for offering Texans misleading ROIs and promising to grow an initial investment of $1,000 into $10,000 in three weeks.
According to the emergency order, Coins Miner was found to have used emails and manipulating online media to solicit funds from Texas residents by pretending to representCoinbase, a San Francisco-based company that operates an online platform for buying, selling, and storing digital currency.
Ana Julia Lara, an affiliate of Coins Minter who crafted the fake email, is also accused of claiming to be a vice president of CoinTelegraph Media Group.
The organization is also accused of fabricating photographs to show its “state-of-the-art office,” as well as using stock photos to portray its employees. A video featuring stock footage of its servers, facilities, and financial professionals was also cited.
The regulator’s second cease and desist letter was targeted towards DigitalBank for claiming to be building an external wallet called “Photon Encrypted Ledger Key” and raising capital for an illegal initial coin offering (ICO).Also, DigitalBank was found to be offering shares issued by the company and the issuance of a utility coin, called DBGK, set for an ICO next year.
According to the order, the company told likely investors to purchase DGBK at a price of $0.50 and sell it for $10.00 during the ICO. With these terms, a $5,000 investment would rise to $100,000 in the ICO period.
The Texas Securities Board, however, concluded the offering was deceptive, as it misled investors on the profitability of the company, while hiding key information needed to make unbiased decision.
Additionally, DigitalBank is also being charged for misleading people with multiple videos featuring President Barack Obama, used for describing the Photon Encrypted Ledger Key. The videos, according to the Securities Board, are misleading as they were created at the 2016 SXSW festival, several years before DigitalBank’s inception.
The third cease and desist letter from the Texas State Securities Board was issued to Ultimate Assets, which deceitfully guaranteed investments with a 900 percent ROI in Bitcoin and Forex trading.
Daniel Dishmon and John Jason Woodard are named for publishing the advertisements for fraudulent investments that target Texas residents.
Also, Ultimate Assets told potential investors that they would be able to provide excessive returns. For example, an original investment of $500 would yield a $5,000 return, a $1,000 investment would yield a $10,000 return, and so on. The company further stated that its trading platform involved no risk and that returns were always guaranteed.
Images from Shutterstock
The postTexas Regulators Shut Down Three Cryptocurrency Scamsappeared first onCCN. || Bitcoin's rollercoaster ride reflects the biggest issue facing cryptocurrencies: regulation: Shutterstock The rollercoaster of cryptocurrency pricing is on the downward slope again. Bitcoin has fallen by a quarter in the past month, with other large currencies such as Ethereum and Ripple down more than 40%. So where does this latest bout of losses leave cryptocurrencies? Sceptics point to the multitude of regulatory issues and avenues for fraud and outright theft. Advocates continue to insist that these are the future of finance. One of the reasons for the latest sell-off is that investors are selling their crypto to pay off the capital gains tax they are required to pay on their gains. It has been estimated that US$25 billion is owed in the US alone. But there is a more fundamental issue at play of investors rushing to convert their profits from initial coin offerings (or ICOs) into fiat currency like dollars. This is where a new crypto token is created in exchange for existing cryptocurrencies like bitcoin. The lack of regulation to protect the profits made from ICOs reflects the wider issue facing the future of crypto. If cryptocurrencies are to become a more mainstream asset, they will require regulation but this will be unpopular with much of its existing fan base which is inherently libertarian. ICO trouble The transfer of crypto gains from an ICO to fiat currency can generate quite the scrummage as cryptocurrency investors attempt to exit the market with the largest amount of value possible. In early 2018, it was reported that almost 46% of 2017 ICOs had already failed. The pressure to exit in a timely manner has been exacerbated by the substantial number of ICO scams that have taken place. Crypto analysis site Diar estimates that, since 2017, nearly US$100m had been lost to ICO exit scams where organisers have little or no intention of developing a financial product that will perform to the standard that is advertised to investors. The cryptocurrency world is largely unregulated and so ripe territory for scammers to operate. Fraud in cryptocurrency markets has to date taken multiple forms. As well as ICO issues, there has been fraud at exchange level, the most famous example of which was the collapse of the Mt. Gox exchange which once handled 80% of global bitcoin trading. Story continues The number of issues and vast sums of money involved has resulted in the US Securities and Exchange Commission casting its supervisory gaze on the crypto world. Substantial questions A growing body of academic research has raised substantial questions over the true underlying integrity of cryptocurrency markets. It highlights the various areas where regulation is needed if bitcoin and others are to have a viable future. For example, economist Neil Gandal and colleagues found that trading volumes on all Bitcoin exchanges increased substantially on days where they found suspicious trading activity. The authors demonstrated that this suspicious activity by one single actor or agent was most likely a big factor behind the sharp increase in the price of Bitcoin from US$150 to US$1,000 in late 2013. Declines in liquidity have also been found to contribute to the risk of a crash in Bitcoin. This is problematic given that, even under normal trading conditions, Bitcoin is found to be more volatile, less liquid and costlier to transact than other assets. Finance researchers John Griffin and Amin Shams analysed blockchain data and found that tether, a cryptocurrency pegged to the US dollar, deeply influenced other cryptocurrencies during the sharp price appreciations of 2017 and 2018. They concluded that tether transactions were responsible for up to 50% of the increase of Bitcoin and 64% of the increase in value of other top cryptocurrencies. Our own research has suggested that cryptocurrencies are only very lightly linked to other financial or economic assets, and that the majority are unaffected by the main market announcements. This all goes to show that cryptocurrencies can be manipulated and do not reflect normal market activity. The underlying economic value of cryptos has also been evaluated, with some suggesting that a cryptos value is determined solely by the willingness of its holders to hoard. Others have found that crypto values are mainly a function of their network depth and not their intrinsic usefulness again leaving it open to manipulation. Still others point to the economic limits to bitcoin arising from its mining cost . Strangely, we now live in a world where joke cryptocurrencies such as the Useless Ethereum Token and Fuzzballs have tangible value, despite being miniscule in comparison to Bitcoin or Ethereum. The former advertises itself with the statement: Seriously, dont buy these tokens, the latter contains a warning on its website stating: There seems to be a problem with the Fuzzballs chain/source and mine Fuzzballs at your own risk. Would a neutral, independent observer look at these facts and buy these tokens? What would an observer that survived the dot-com crash think? To be merited as a somewhat viable and trustworthy financial market product, cryptocurrencies must in some way adhere to a common standard of international regulation. Until this occurs, we will continue to observe situations involving substantial theft from international exchanges, continued disquiet as fraudulent ICOs are uncovered with investor funds channelled around the world, and most interestingly, a market that has become so sensitive to minute details that even the smallest hint of strife can generate substantial price volatility. The challenge for proponents of cryptocurrencies is how to continue to promote their decentralised, anonymous, libertarian nature as their issuance and trading become more and more regulated. This article was originally published on The Conversation . Read the original article . The Conversation 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 their academic appointment. || Crypto Market Decline Aggravates as Ripple and Ethereum Hit Yearly Lows: The market is down $25 billion from yesterday’s high of $219 billion, sliding to $193 at the time of writing. Altcoins have been hit hard with Ethereum down almost 18% overnight according to coinmarketcap.com and hitting lows not seen since August 2017, now trading at $264. Ripple is also at a yearly low, down 14.33% to trade at $0.26, a value not seen since last December. XRP is down 92% from its all-time high of $3.37 making it one of the hardest hit altcoins in the top ten by market cap. Bitcoin Cash and EOS are also down 16% percent today, and Cardano has taken a 20% hit making it the biggest loser in the top 10 over the last 24 hours. The biggest losses in the top 100 were seen by Ark, ICON, and Wanchain with losses of 30.5%, 29.05%, and 27.97% respectively. A currency ranked no. 886 named Inflation Coin is ironically down 92% from yesterday, and a handful of relatively obscure currencies are also trading higher than yesterday. Bitcoin is also at its lowest since October 2017, almost testing the $6,000 mark at $6,040 although it is one of the least affected currencies over the last 24 hours, down over 6.5% from yesterday. The only currency to take a smaller hit was Cryptonex at no. 66 on coinmarketcap along with 2 stablecoins, Tether and TrueUSD. CCN recently reported on the increase in Bitcoin market dominance throughout the recent decline which has enabled the dip in Bitcoin to have a major impact on many altcoins in the market. Dominance is currently at 54% compared to 35% in May. In fact the staggering price drop Ripple has undergone comes despite a number of high-profile figures and news stories involving the project emerging recently, such as a partnership with Madonna , a conference featuring Bill Clinton as the keynote speaker, and a potential Coinbase listing. Bitcoin’s dominance and the overall market trends currently seem to detach the price action from progressive developments being made in the space, something which may change over time with more investors entering the space. Story continues Yesterday, CCN reported on bearish trends in the market which stated that Bitcoin would test around the 6050 mark before sinking further to 6012 if broken, which may be where Bitcoin is currently headed. Featured image from Shutterstock. The post Crypto Market Decline Aggravates as Ripple and Ethereum Hit Yearly Lows appeared first on CCN . || Bitcoin Only Masquerades as a Currency: BIS Research Chief: bitcoin bank for international settlements Hyun Song Shin, Economic Adviser and Head of Research of the Switzerland-based Bank for International Settlements (BIS), told Bloomberg that bitcoin and other cryptocurrencies fall a long way short of being able to sustain a monetary system and really only masquerade as real currencies. Speaking in the latest episode of the Bloomberg Benchmark podcast , Shin argued that money, in the form digital cash or tokens, is a record keeping device and is essentially worthless its value is only increased when others begin accepting it. Is Bitcoin a Bubble? Last month, Agustín Carstens , general manager of BIS, called bitcoin a bubble, a Ponzi scheme and an environmental disaster. When asked about Carstens statement, Shin said that miners have two incentives for verifying transactions. They collect their reward in the form of bitcoins as well as transaction fees paid by users. If the capacity of the network is increased, not only will the problem be solved but the transaction fees would also become zero. Hence, miners will lose their incentive to verify blocks and this is where the economics really bump into technology. Shin added that while this statement is true for bitcoin, however, other cryptocurrencies may provide better solutions. Bitcoins Finality Problem bank for international settlements What is a valid payment depends on what the bookkeepers agree is a valid payment. It is the result of a collective decision of the bookkeepers themselves, said Shin regarding bitcoins finality issue. Since miners interact with each other, it is theoretically possible that they may group together and agree on creating a hard fork. As result of this, the transactions on the previous branch would become useless and invalid. Therefore, he alleged, transactions made on blockchains are never 100% valid and can result in a disaster. Will Bitcoin Replace Traditional Money? Shin said that regulation shouldnt be a big issue for cryptocurrencies. However, cryptocurrencies connection with the traditional monetary system has raised some concerns from regulators. Some people have started calling them financial assets, while others have used them to lure people into fraud. These situations have sparked a debate over the importance of crypto regulations. Story continues When asked about blockchain technology in general, Shin said that it has many useful applications all over the world, I think where it becomes much more difficult is when the technology takes on the attribute of a financial asset, which then masquerades as a currency. And then gives rise to promises that may not be fully fulfilled. Shin concluded that even if crypto technology is improved, the problems in economics will continue to exist. Featured Images from Shutterstock The post Bitcoin Only Masquerades as a Currency: BIS Research Chief appeared first on CCN . || Is Fading Crypto Demand At All a Threat to Semiconductor ETFs?: The once-soaring semiconductor space had hit the wall this year with ETFs returning more-or-less 3% so far (as of Aug 16, 2018). Factors that thwarted growth in the space this year were news of Nvidia ’s NVDA suspension of self-driving car tests on public roads in March, heightened trade war talks between the United States and China and the slump in cryptocurrency price (read: Should You Snap Up Downtrodden Semiconductor ETFs Now?). Falling Crypto Demand Semiconductor ETFs have been on a bumpy ride so far this year. And to make matters worse, Nvidia’s shareslost about 5% in after-hour trading on Aug 16 after the company indicated that cryptocurrency-fueled demand had dried out and its sales guidance was below Wall Street targets. Investors should note that mining of cryptocurrencies needs the usage of semiconductors. Nvidia earlier guided sales for cryptocurrency chips for the fiscal second quarter ended Jul 29 to be about $100 million, while actual revenues came in at only $18 million. This is in stark contrast to $289 million (almost a 10 th of Nvidia's revenues) recorded in the prior quarter. Investors should note that one of the key cryptocurrencies, bitcoin prices, have fallen about 67% this year to $6314 (as of Aug 16) from December’s high of $19,343, indicating trouble in the space. Several regulatory agencies and central banks are doubtful about the merit of cryptocurrencies like bitcoin.The Securities and Exchange Commission (SEC) is tensed about the extreme price volatility in cryptocurrencies. Several central banks have also issued warnings against it (read: Bitcoin Falls After SEC Postpones ETF Decision). Needless to say, such news is likely to weigh on semiconductor ETFs in the coming trading sessions. But should you be spooked by the falling crypto demand? Areas That Can Bolster Semiconductor ETFs Upbeat Sales Fundamentals Global sales rose more than 20% year over year for 15 successive months. Also, upbeat data on personal computer (PC) shipments, which have been weak over the past several years, should boost investors’ confidence in the sector. This is especially true as global PC shipments had enjoyed the strongest quarter in six years with 2.7% growth in Q2, per the International Data Corp (IDC) and the first year-over-year increase of 1.4% since first-quarter 2012, according to Gartner (see: 5 Top-Ranked Tech ETFs to Buy on Strong PC Growth). Story continues Rise of Artificial Intelligence Artificial Intelligence is a hot theme now. The rapid adoption of advanced information technologies including cloud, Internet of Things, autonomous cars, gaming, wearables, drones and artificial intelligence should keep supporting semiconductor ETFs. Amazon’s AMZN Amazon Web Services, Microsoft Corp's MSFT Azure and Alphabet Inc's GOOGL Google Cloud are purchasing chips to “power artificial intelligence and other functions”, per a source. US-China to Recommence Trade Negotiations One of the reasons why Semiconductor stocks took a beating this year was the trade truce between the United States and China. Per Morgan Stanley equity strategists, “semiconductor and semiconductor equipment companies have the highest revenue exposure to China at 52%” and are thus exposed to maximum risks on rising trade tensions. Now,there is news that the United States and China are ready to restart trade talks or negotiations next week to prevent a full-blown trade war, “the first such meeting since July.” If trade tensions abate, these stocks could soar higher (read: 5 Sector ETFs Most Exposed to Trade Tensions). Tax Reform Benefit Trump’s tax reform is another tailwind for the space. Big semiconductor companies have huge cash piles overseas and are likely to bring that cash back thanks to the one-time repatriation tax and overall lower tax rate. After repatriation, this cash may be used to dole out dividends to shareholders and to buy back shares (read: Tax Bill: What ETF Investors Need to Know). ETFs in Focus Against this backdrop, investors can definitely play the downtrodden semiconductor ETFs. Below we highlight a few ETFs. Semiconductor Vaneck Vectors ETF SMH Invesco Dynamic Semiconductors Portfolio PSI SPDR S&P Semiconductor XSD iShares PHLX Semiconductor ETF SOXX 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 report Amazon.com, Inc. (AMZN) : Free Stock Analysis Report Alphabet Inc. (GOOGL) : Free Stock Analysis Report Microsoft Corporation (MSFT) : Free Stock Analysis Report ISHARS-PHLX SEM (SOXX): ETF Research Reports PWRSH-DYN SEMI (PSI): ETF Research Reports VANECK-SEMICON (SMH): ETF Research Reports SPDR-SP SEMICON (XSD): ETF Research Reports NVIDIA Corporation (NVDA) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report || Bull Case for Tesla's Private Plan, & News from Square, Bitcoin, and More | Free Lunch: On today’s episode of Free Lunch, Associate Stock Strategist Ryan McQueeney recaps the market’s top morning headlines, including Square’s latest bullish analyst note, today’s cryptocurrency crash, Home Depot’s earnings, and more. Later, he is joined by Brian Bolan, Zacks’ growth guru and noted Tesla bull, to debate the electric car company’s go-private plan. Want more video content from Zacks? Subscribe to Zacks Investment News now! Free Lunch is the newest show from Zacks Investment Research. It is streamed live, four times per week, and features breaking news and analysis from Zacks strategists. Free Lunch is available on YouTube, Facebook Live, Twitter, Ustream, and more. Home Depot HD reported top and bottom line beats this morning, extending its five-year positive earnings surprise streak and notching comparable-sales growth of 8%. The home improvement retailer also raised its full-year guidance, which provides even more evidence on the strength of the housing market and consumer economy. Meanwhile, shares of Square SQ surged again in morning trading Tuesday on the back of another bullish analyst note. This time it was Instinet getting on the action, with analysts there raising their price target for the payments stock to $86 from $82, citing growing adoption of the company’s Cash app as a key reason to be optimistic. Also making headlines this morning was Nvidia NVDA, which officially unveiled its eighth-generation Turing graphics architecture. Analysts and investors alike praised the new GPU line—a likely growth catalyst for the company’s gaming unit—just days before Nvidia is set to report its latest quarterly earnings report. Tuesday morning also saw a massive selloff in the cryptocurrency market, led by giants bitcoin and Ether. The total capitalization of the crypto market has lost about $20 billion in a day, sending many virtual currencies to multi-month lows. On the first half of today’s show, Ryan discusses all of these news stories, providing investors with the key facts they need to know and giving his unique perspective on the headlines. On the second half of the episode, he is joined by Zacks Strategist Brian Bolan to debate Tesla TSLA. Bolan has been an outspoken Tesla bull this year, and he came on the show to give his thoughts on Elon Musk’s stunning go-private deal. Is it finally time to doubt Musk? Should Tesla investors hold on to their shares as the proposal shakes out? Is Bolan worried about an SEC probe related to Musk’s tweets? Hear the answer to all of these questions, and more, only on today’s episode of Free Lunch! Story continues Today's Stocks from Zacks' Hottest Strategies It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%. And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation. See Them 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 report Square, Inc. (SQ) : Free Stock Analysis Report Tesla, Inc. (TSLA) : Free Stock Analysis Report The Home Depot, Inc. (HD) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research View comments || Bitcoin price falls below £5,000 and ethereum plummets as crypto markets 'hit panic mode': The price of cryptocurrencyBitcoinfell to below $6,000 (£4,700) on Tuesday as the cost of other cryptocurrencies declined by billions of dollars amid a new sell off.
Bitcoin fell from around $17,000 at the start of the year and lost 6pc of its value over 24 hours. Its current price is close to its lowest point of the year, which it hit on June 18th at $5,785 (£4,524).
Cryptocurrencies are digital coins that only exist online. They operate on a digital ledger, which records all transactions. While the price of cryptocurrencies reached record highs during a sudden bubble in December, they have gradually fallen in value closing in on the levels they were at in early 2017.
Bitcoin isn't alone in its price drop. Over the past 24 hours, rival digital currencyEthereumfell 16pc and Ripple dropped 14pc, according to CoinMarketCap. In the past five days, all cryptocurrencies have seen falls totalling around $60bn.
"The crypto market seems to have hit panic mode, with prices falling significantly across the board," said Matthew Newton, an analyst at cryptocurrency trading company eToro. "Bitcoin is still range-bound for now between $5,700 to $8,000 in line with how it has traded over the past few months."
Ether skyrocketed over $1,000 in February in part as startups built projects on top of the Ethereum blockchain and sold digital tokens in exchange for Ether in crowd sales known as initial coin offerings. Now, some of those projects are cashing out, contributing to Ether's slump. The token has tumbled by as much as 27 percent this week, the biggest two-day drop since February. The price slumped to as low as $251, the lowest since November.
“The big story in the market today is the huge weakness in Ethereum,” Timothy Tam, chief executive officer of CoinFi, a cryptocurrency data analysis company, said in a phone interview. “Bitcoin has held up relatively well versus Ethereum. It’s still quite weak versus the U.S. dollar.”
The fall came after the US Securities and Exchange Commission decided to delay a ruling on whether it would allow a Bitcoin Exchange-Traded Fund to go ahead. This would essentially be an investment fund that can be traded like stocks.
Bitcoin futures have been traded on several US exchanges, such as the Chicago Board Options Exchange and the CME.
In the UK, cryptocurrency mining companyArgo Blockchainmade history earlier this month after becoming the first digital coin mining firm to be listed on the London Stock Exchange.
The company mines digital currencies on behalf of monthly subscribers using a similar model to Spotify or Netflix. This means people with little technical prowess and lacking the right tools to set up a mining rig can still make money from the Bitcoin craze by creating an account on Argo’s website or smartphone app.\
But regulators are taking their time on the adoption of the new digital currencies. In the UK, regulatory bodies have set up a Crypto Assets Taskforce that includes members from the Treasury, the Financial Conduct Authority and the Bank of England.
Thegroupaims to explore "the impact of cryptoassets, the potential benefits and challenges of the application of distributed ledger technology in financial services, and assessing what, if any, regulation is required in response."
While there is interest from professional investors to take out a position in Bitcoin, some speculators have lost millions of dollars in cryptocurrencies since their peak.
Crypocurrency enthusiasts maintain that blockchain technology, which is the digital ledger that Bitcoin is built on, could provide a future where people trade and invest in digital currencies or use them to pay for utilities. However, the current level of difficulty inpaying for goods with digital currencymeans this could be some way off.
Meanwhile, Bitcoin and cryptocurrencies are still being used as fuel for the criminal underworld. A report found that$761m (£577m) had been laundered since the start of the yearfrom cryptocurrency exchanges. || Precious Metals Rebound As Dollar Turns Soft Amid Profit Booking: Asian stocks were largely steady on Tuesday, with worries over the U.S.-China trade conflict offsetting support from earnings-led gains on Wall Street. There’s some very light demand from China and Southeast Asia as cheap gold looks attractive to small-time investors who could not horde up on US Greenback. US Greenback is expected to continue growing higher as the possibility of multiple rate hikes by US Fed looks highly likely however positive performance of USD post hawkish earnings report in wall street has resulted in Investors cashing in on profits.
While the market outlook remains positive for US Greenback in near future, profit booking activities have resulted in US Greenback losing ground against major global currencies. DXY – US Dollar index which is used to measure the strength of the dollar in the broad market is down 0.18% at 95.19. Spot Gold XAUUSD is up 0.45% on the day at $1212.84 an ounce while US Gold Futures GCcv1 is up 0.33% at 1221.80 an ounce.
Gold prices have declined nearly 12 percent since mid-April, pressured by a stronger U.S. dollar from an ongoing U.S.-China trade dispute and amid expectations of higher interest rates in the United States and hit 5 week low at $ 1204.49 last Friday before making a rebound. The U.S. Federal Reserve is widely expected to raise benchmark lending rates, for the third time this year, at its next policy meeting in September. Higher U.S. rates tend to boost the dollar, making greenback-denominated precious metals more expensive for holders of other currencies.
Meanwhile, holdings in SPDR Gold Trust GLD, the world’s largest gold-backed exchange-traded fund, fell 0.78 percent to 788.71 tonnes on Monday. Overall sentiment remains weak in light of ETF reducing positions, a strong dollar and rate hikes. A weaker dollar has resulted in a positive rebound in not just Gold but also the Silver market. Spot Silver XAGUSD is up 0.88% at $15.425 as of writing this article and is expected to continue its uptrend movement as long as Dollar remains weak in a broader market.
The escalating U.S.-China trade war is deterring hedge funds and other money managers from opening new positions in the WTI and Brent benchmarks, with total bets dropping to their lowest since 2016 in the week to July 31, according to data by European and U.S. options and futures exchanges compiled by Bloomberg. The net long position—the difference between bullish and bearish bets—in WTI dropped by 1.4 percent to 386,764 futures and options in the week ended July 31, with longs down and shorts up. Investors are backing away from betting heavily on oil in a volatile market as the U.S.-China trade war continues to escalate and as reports emerged last week that the Chinese had refused to scale back crude oil imports from Iran.
The increase in short-term bets along with softer US Dollar has helped WTIUSD performance in today’s trading hours and the pair is currently at 69.83/b with 0.42% increase in value.
Thisarticlewas originally posted on FX Empire
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[Random Sample of Social Media Buzz (last 60 days)]
@Bitcoin_price_8 || @Bitcoin_price_8 || @Bitcoin_Stats || @btc_update || @btc_reddit || @btc_current || Valor del #Bitcoin $BTC
BTC1 = ₡4.244.350,87
BTC1 = $7.483,32
$USD $CRC || @lifeoncoin || It sure looks like Mt. Gox will give back $1.3M worth of Bitcoin to its users – but there’s a catch https://ift.tt/2vfNnY7 || @Bitcoin_price_8
|
Trend: down || Prices: 6556.10, 6502.59, 6576.69, 6622.48, 6588.31, 6602.95, 6652.23, 6642.64, 6585.53, 6256.24
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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 2015-03-27]
BTC Price: 247.03, BTC RSI: 39.98
Gold Price: 1199.80, Gold RSI: 55.75
Oil Price: 48.87, Oil RSI: 52.05
[Random Sample of News (last 60 days)]
Oil Prices Changing the Face of Global Geopolitics: By Andrew Topf for Oilprice.com In a documentary that aired recently on the Canadian Broadcasting Corporation's popular The Fifth Estate program, an allegory of Vladimir Putin was presented. The wily Russian president was described growing up in a shabby St. Petersburg apartment, where he would often corner rats. Now, punished by low oil prices and Western sanctions against Russian incursions in Ukraine/ Crimea, Putin is himself the cornered rat. Many wonder, and fear, what he will do if conditions in Russia become increasingly desperate. In the last six months oil prices have plunged over 50 percent and the Russian economy is hurting. The country now faces slowing economic growth, a depressed ruble, and runaway inflation estimated to be up to 150 percent on basic foodstuffs. ALSO READ: States Where the Middle Class Is Dying The Kremlin is counting on austerity cuts to help balance its budget, which has revenues coming in at $45 billion lower than earlier projections. The exception, significantly, is defense. With the military exempted from the austerity plan, it begs the question of whether Putin will "play the nationalist card," such as he did in Crimea, in an effort to strengthen greater Russia during a period of economic weakness. Georgia on His Mind We are already seeing this to be the case. As Oilprice.com reported on Tuesday, Putin is set to absorb South Ossetia – Georgia's breakaway republic that declared itself independent in 1990. Under an agreement "intended to legalize South Ossetia's integration with Russia," Russia would invest 2.8 million rubles (US$50 million) to "fund the socio-economic development of South Ossetia," according to Agenda.GE, a Tbilisi-based news site. The situation is analogous to Crimea because, like Crimea, South Ossetia contains a significant Russian-speaking population with ties to the Motherland. If Putin succeeds in annexing the tiny province, it will be a real poke in the eye to the United States, which provoked Russia in the early 1990s by promoting construction of a pipeline between the former Soviet republics of Azerbaijan and Georgia. The BTC pipeline moves oil from Baku in Azerbaijan to Tbilisi in Georgia and then onward to Ceyhan on Turkey's Mediterranean coast. Story continues ALSO READ: Merrill Lynch Has 5 Large Cap Energy Stocks to Buy Now BTC started operating in 2006. Then, two years later, Putin built his own pipeline to cut out Georgia. The South Ossetia pipeline run by Gazprom stretches 75 kilometers from South Ossetia to Russia. The current move on South Ossetia is a way for Russia to assert its energy independence in the face of Western sanctions and low oil prices. It comes as Russia announced plans to divert all of its natural gas crossing Ukraine to a route via Turkey. As Bloomberg reported last week, Gazprom will send 63 billion cubic meters through a proposed link under the Black Sea to Turkey – after the earlier South Stream pipeline, a $45-billion project that would have crossed Bulgaria, was scrapped by Russia amid opposition from the European Union. By sending the gas to Turkey and on to Europe via Greece, Gazprom is in effect sending Europe an ultimatum: build pipelines to European markets, or we will sell the gas to other customers. According to one observer, the proposed land grab in South Ossetia combined with the snub to Europe by shifting its gas to Turkey and bypassing Ukraine, is a classic Putin power play: "Russia is preparing to absorb a province of neighboring Georgia, and delivering an ultimatum to Europe that it could lose much of the Russian gas on which it relies," Steve LeVine writes in Quartz. "Putin has argued that the west is simply intent on ousting him and weakening Russia... Faced with these perceived attempts to undercut him and his country, Putin suggests that he has no choice but to pull around the wagons and stick it out. This could go on a long time." ALSO READ: Shake Shack Leads the Parade of IPOs Scheduled for Next Week Iran: Falling Oil Prices Spur Peace Dividend Some have speculated that the oil price crash was orchestrated by the Saudis, possibly in collusion with the United States and other Gulf states, to punish Iran, its main political and religious rival in the Middle East. Whether or not that is true, there is no denying the effects of a low oil price on Iran's economy. "Iran is already missing tens of billions of dollars in oil revenue due to Western sanctions and years of economic mismanagement under former President Mahmoud Ahmadinejad," Bloomberg reported on Jan. 7. Like Russia, Iran is looking at spending cuts in next year's budget, which is based on an overly-optimistic $72 a barrel crude oil price. However, unlike Russia, which is "circling the wagons" and pulling further away from the West currently, the oil price drop could actually lead to more of a détente between Iran and Western countries. In a speech on Jan. 4, President Hassan Rouhani said Iran's economy "cannot develop in isolation from the rest of the world," while at the same time, Iran's foreign minister was negotiating a nuclear deal that could see the lifting of UN sanctions, the Washington Post observed. ALSO READ: States With the Highest (and Lowest) Gas Taxes Then there is the cooperation between the West and Iran over the terrorist group ISIS. The National Post's J.L. Granatsein wrote in a column on Tuesday that Iran has deployed substantial numbers of its Revolutionary Guard elite Al Qods brigade into Iraq and Syria to fight ISIS, along with Western allies including the US, Britain, France and Canada. This is despite Iran's support for Hezbollah in Lebanon and Syria's president Assad. "Politics makes strange bedfellows indeed, but not much can be stranger than this. Led by the Americans, hitherto the Great Satan to the Iranian leaders, the ties between the West and Iran are becoming tighter, each side reacting to the horrors of Islamist fundamentalism throughout the region," Granatsein writes. "The Iranians have been hurt by sanctions, and they are being wracked even more by the falling price of oil. Easing curbs on trade and Iranian banks may mitigate the effects of the oil price collapse." Venezuela Bracing for the Worst The other major loser in the oil price collapse, Venezuela, may not see such a positive outcome. Wracked by decades of economic mismanagement by Hugo Chávez, the South American oil producer was already struggling to pay its debts when new president Nicolás Maduro came to power. ALSO READ: Analyst Shows Why GE Likely to Keep Raising Its Dividend Now, with inflation running at 60 percent and lines forming outside state grocery stores for food and other basic supplies, Maduro faces the specter of serious social unrest if conditions do not improve. The country has some of the world's cheapest gasoline prices, but Maduro has refused to end fuel subsidies, fearing, no doubt, a repeat of widespread riots in 1989 that left hundreds dead after gasoline prices were allowed to rise. Venezuela is even more dependent than Russia on the price of oil, earning some 96 percent of its foreign currency from oil sales, putting Maduro in the untenable position of either borrowing more, despite crushing debts, or slashing spending: "With only $20 billion left in its reserves, and $50 billion in debt to China alone, Venezuela appears headed toward a choice between abandoning its oil giveaways and defaulting on its debts, or starving its own population to the point of revolt," according to the Washington Post. Related Articles The Worst States to Grow Old In The Best States to Grow Old In 5 Stocks Under $5 With Gigantic Potential Upside || Bitcoin Shop, Inc. Expands Mining Operations With New Facility and Launches Multi-Signature Security Solution to New Website: ARLINGTON, VA--(Marketwired - Jan 28, 2015) - Bitcoin Shop, Inc. ( OTCQB : BTCS ) ("BTCS" or the "Company"), which is undertaking the build-out of a universal digital currency ecosystem, announced today that the Company secured a 83,000 square foot facility, about 1.4 times the size of a regulations NFL football field, to expand its mining operations. The Company also purchased from Spondoolies Tech Ltd. ("Spondoolies"), 100 S35 miners totaling 550 TH/s of hashing power, a 161% increase in its mining capacity, and anticipates having the newly purchased equipment online in two to four weeks, which would bring BTCS's total mining hash rate to 891 TH/s. Additionally, the operating costs (inclusive of power) at the new facility should be approximately 30% lower than our current facility. With minimal improvements, the new facility is anticipated to handle over 10 megawatts (mw) of power and can potentially house up to 40,000 TH/s of mining hardware. The Company launched a new website to demonstrate its planned services, which includes a new multi-signature secure bitcoin storage solution as a next step in the build-out of its universal ecosystem. "We're seizing market opportunities created by the recent downturn in bitcoin price and expanding accordingly. At the current price of bitcoin, cost structure matters, and we believe we'll have one of the lowest cost mining operations in the industry," says BTCS CEO Charles Allen. Without any further expansion, the Company believes their mining efforts should yield at least 350 bitcoins in the first quarter of 2015. Additionally, the Company agreed to issue 250,000 shares of its common stock to Spondoolies as partial compensation for the equipment. Charles Kiser, the Company's Executive Vice President, voluntarily agreed to the redemption of 250,000 shares of his common stock for $2,500 such that the share issuance to Spondoolies will result in no additional dilution to the Company's public shareholders. Story continues "We're thrilled to be working with Spondoolies as we seek to increase our capacity beyond 10,000 TH/s and 10 mw," said Allen. Spondoolies- CEO Guy Corem commented, "Mining hardware companies should be prepared for market changes as part of their strategy. At Spondoolies, we've anticipated a full range of market scenarios such as the current bitcoin price decline and volatility, and are pleased to partner with an innovative company like BTCS." Along with the expansion of its mining operations, BTCS released a new website, which includes a beta version of a multi-signature secure bitcoin storage solution built on Gem.co's multi-signature security platform. The beta version of the storage solution is currently only accessible by invitation. Additionally, BTCS is the only strategic investor in Gem. "It was clear to us that BTCS was focused on offering a bitcoin storage solution that was both innovative and secure, and we were thrilled they chose Gem's multi-sig platform to deliver this unique solution to their customers," said Gem CEO and Founder Micah Winkelspecht. The Company has also released an updated corporate presentation which can be found here: http://investors.btcs.com/BTCS_Corporate_Presentation_January_2015.pdf . About BTCS: BTCS plans to build a universal digital currency platform with the goal of enabling users to engage in the digital currency ecosystem through one point of access. We currently operate our public beta site ( www.btcs.com ) where consumers can purchase products using digital currency such as bitcoin, litecoin and dogecoin, by searching through a selection of over 250,000 items. We provide our customers competitive pricing options from 256 retailers through our "Intelligent Shopping Engine." All ecommerce customer orders are fulfilled by third party vendors. We plan to use our ecommerce platform as a customer on-ramp for a broader digital currency platform. We have been actively partnering with strategic digital currency companies who have technologies, services or products that are complementary to our business strategy by making investments in them and integrating with them. Forward Looking Statements: Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission, not limited to Risk Factors relating to its digital currency business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law. || Indian Mountain School Now Accepts Bitcoin for Donations Through GoCoin: ARLINGTON, VA--(Marketwired - Feb 3, 2015) - Indian Mountain School ("IMS"), digital currency payment processor GoCoin LLC ("GoCoin"), and Bitcoin Shop, Inc. ("BTCS") ( OTCQB : BTCS ), announced today that IMS is now accepting Bitcoin for donations to the school's fundraising initiatives. The collaboration between IMS, GoCoin and BTCS makes IMS the first elementary/middle school in the United States to accept Bitcoin. Indian Mountain School, an independent coeducational boarding and day school for children in pre-kindergarten through grade nine, located in Lakeville, Connecticut, will offer parents and other supporters the option to donate with Bitcoin. "Indian Mountain strives to develop innovative and creative thinkers, which is why we build STEAM (Science, Technology, Engineering, Arts and Mathematics) learning into every student's experience. We encourage our students to take small risks within our safe and supportive environment and to learn and expand upon those trial-and-error experiments. It is gratifying to see IMS alumnus Charles Allen on the leading edge of a new industry. The fact that forward-thinking school supporters can give to the school through digital currency is an inventive way to bring this out-of-the-box idea home to our students," commented Head of School Mark A. Devey from IMS. Charles Allen, CEO of BTCS and alumnus of IMS, commented, "Indian Mountain is taking a leap in the right direction in terms of being a leader of innovation and technology in the education system. We believe this opportunity will not only benefit parents but will broaden the horizon for the next generation and afford IMS students an understanding of new technologies that will no doubt impact their futures." Donating to IMS with Bitcoin will be a seamless process through digital currency payment processor GoCoin. "The best way to understand digital currencies is to actively use them, and now both IMS, its students and their parents can all benefit from practical, hands-on experience with this new technology," said Steve Beauregard, co-founder and CEO of GoCoin. Story continues Supporters who donate with Bitcoin have the benefit of no currency exchange rates, no charge backs and no other fees associated with their payments. Accepting Bitcoin will also benefit international students' parents who choose to donate with the digital currency. IMS will become the first elementary/middle school in the United States to accept Bitcoin for school fundraising campaigns. About Indian Mountain School: Indian Mountain School provides a traditional but forward-thinking education for boys and girls from pre-kindergarten through grade nine in a boarding and day environment. We promote moral growth and personal academic excellence in a setting that fosters a respect for learning, the environment, and each other. We celebrate our international and culturally diverse community. We guide and challenge students through balanced elementary and middle school scholastic, athletic, and arts curricula, combining instruction and coaching with a system of personal support. We involve students in our Adventure Education and community service programs, which tie into the spirit of IMS. We help our students gain confidence in their own innate abilities and develop the necessary academic and personal skills to be successful in secondary education. Learn more at http://www.indianmountain.org/ About GoCoin: The GoCoin international payment platform makes it easier than ever for online and retail merchants to accept Bitcoin and Litecoin as payment methods. While payments infrastructure over the last half-century was designed to hold funds for as long as possible, while extracting maximum fees from consumers and merchants, GoCoin enables merchants to reap the benefits of accepting digital currency. GoCoin takes all of the perceived risk of accepting the digital currency on behalf of merchants. Founded in July 2013, GoCoin will process Bitcoin and Litecoin payments for online and brick and mortar retailers, bypassing the often cumbersome and insecure options of virtual exchanges and other third parties. For more information, please visit http://www.gocoin.com . Official Website | Facebook | @GOCOIN About BTCS: BTCS plans to build a universal digital currency platform with the goal of enabling users to engage in the digital currency ecosystem through one point of access. We currently operate our public beta site ( www.btcs.com ) where consumers can purchase products using digital currency such as bitcoin, litecoin and dogecoin, by searching through a selection of over 250,000 items. We provide our customers competitive pricing options from 256 retailers through our "Intelligent Shopping Engine". All ecommerce customer orders are fulfilled by third party vendors. We plan to use our ecommerce platform as a customer on-ramp for a broader digital currency platform. We have been actively partnering with strategic digital currency companies who have technologies, services or products that are complementary to our business strategy by making investments in them and integrating with them. Forward Looking Statements: Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission, not limited to Risk Factors relating to its digital currency business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law. || Silk Road Bitcoin Auctions Prove There's Still An Interest In Cryptocurrency: On Thursday March 5, the U.S. Marshals Service auctioned off around $13.9 million worth of bitcoins seized from Ross Ulbricht during the investigation into the Silk Road black market. The auction attracted 34 bids from 14 bidders, proving that interest in the cryptocurrency isn't dead despite a year of bad press and volatile prices. A Bit Of A Gamble The auction took on an interesting dimension for interested parties as the bitcoins were priced based on market conditions, but could have a much higher or lower value once they are actually transferred due to bitcoin's high degree of volatility. The government is expected to have completed the financial transactions by Monday and announce the winners some time this week. A total of 50,000 bitcoins were auctioned. Demand Rising Thursday's auction was the third of its kind and had a higher rate of participation than the second, conducted back in December. The December auction had just 11 buyers and 27 bids, but the first auction in June was able to attract 45 bidders and 63 bids. Related Link: Bitcoin And Tax Season: What You Should Know Participants To Be Announced Venture capitalist Tim Draper did not participate in Thursday's auction despite his comments that the government auctions were likely to be the "best deal anyone will get" to purchase bitcoins. Investment funds SecondMarket and Pantera Capital both participated; SecondMarket confirmed that it did not win any bitcoins, but the rest of the winners and losers are still unknown. See more from Benzinga Getting In On The Apple Watch Buzz, Without Investing In Apple Biomonitoring Is The New Black Marijuana A Promising Treatment, But Research And Development Still Limited © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 3 reasons to be bearish on Shake Shack: Shake Shack(SHAK)rocketed nearly 120 percent higher in its first day of trading on Friday, valuing the company at about $1.6 billion.
"I think people see Shack as a changing of the guard," CNBC "Fast Money" trader Tim Seymour said.
Although investors jumped into the stock with enthusiasm on Friday, "Fast Money" traders were more skeptical of the stock, especially after its huge IPO gains.
Shake Shack shares closed just below $46 per share after pricing at $21. The company offered 5 million shares, and the volume brought "extreme squeezing to the upside," said trader Steve Grasso.
"I would be very careful in the next couple days and weeks," Grasso said.
Read MoreWhat's next for Shake Shack after monster IPO?
Investors should be wary of chasing the stock after it more than doubled in one day of trading, said trader Guy Adami. The stock could move to $60 per share or higher in the long term but looks less appealing now, he added.
"It's 'greater fools' theory and you don't want to be the last fool," Adami said.
Trader Brian Kelly would also stay away from Shake Shack in the short term, but added that "it's not a bad stock."
Read MoreBurger stock bull market beats market by double
Disclosures:
Steve Grasso
Steve Grasso is long AAPL, BA, CLVS, EVGN, FB, GDX, GOOGL, IMMR, KBH, KDUS, MHY, MJNA, NVIV, PFE, POT, SO, T, TMUS, TWTR and YHOO. His firm is long USO, FCX, NE, NEM, OXY, RIG, VALE, MCD and KO. His kids are long EFG, EFA, EWJ, IJR and SPY.
Guy Adami
Guy Adami is long CELG, EXAS and INTC. Guy Adami's wife, Linda Snow, works at Merck.
Brian Kelly
Brian Kelly is long BTC=, US Dollar, ZBH5, HYG puts, TWTR call spreads and BBRY call spreads. He is short EWA, EWG, EWQ, EWZ, EWH, EWW, HGH5, yen, Australian dollar, British pound, Canadian dollar, yuan and copper.
Tim Seymour
Tim Seymour is long AAPL, BAC, C, DIS, F, GE, GM, GOOGL, INTC, JCP, BX and SUNE. Tim's firm is long BABA, BIDU, CCU, DSKY, KNDI, MCD, NKE, NOK, SINA, SBUX, TSL and VIP. || Bitcoin Shop, Inc. Expands Mining Operations With New Facility and Launches Multi-Signature Security Solution to New Website: ARLINGTON, VA--(Marketwired - Jan 28, 2015) - Bitcoin Shop, Inc. (OTCQB:BTCS) ("BTCS" or the "Company"), which is undertaking the build-out of a universal digital currency ecosystem, announced today that the Company secured a 83,000 square foot facility, about 1.4 times the size of a regulations NFL football field, to expand its mining operations. The Company also purchased from Spondoolies Tech Ltd. ("Spondoolies"), 100 S35 miners totaling 550 TH/s of hashing power, a 161% increase in its mining capacity, and anticipates having the newly purchased equipment online in two to four weeks, which would bring BTCS's total mining hash rate to 891 TH/s. Additionally, the operating costs (inclusive of power) at the new facility should be approximately 30% lower than our current facility. With minimal improvements, the new facility is anticipated to handle over 10 megawatts (mw) of power and can potentially house up to 40,000 TH/s of mining hardware. The Company launched a new website to demonstrate its planned services, which includes a new multi-signature secure bitcoin storage solution as a next step in the build-out of its universal ecosystem.
"We're seizing market opportunities created by the recent downturn in bitcoin price and expanding accordingly. At the current price of bitcoin, cost structure matters, and we believe we'll have one of the lowest cost mining operations in the industry," says BTCS CEO Charles Allen. Without any further expansion, the Company believes their mining efforts should yield at least 350 bitcoins in the first quarter of 2015. Additionally, the Company agreed to issue 250,000 shares of its common stock to Spondoolies as partial compensation for the equipment. Charles Kiser, the Company's Executive Vice President, voluntarily agreed to the redemption of 250,000 shares of his common stock for $2,500 such that the share issuance to Spondoolies will result in no additional dilution to the Company's public shareholders.
"We're thrilled to be working with Spondoolies as we seek to increase our capacity beyond 10,000 TH/s and 10 mw," said Allen. Spondoolies- CEO Guy Corem commented, "Mining hardware companies should be prepared for market changes as part of their strategy. At Spondoolies, we've anticipated a full range of market scenarios such as the current bitcoin price decline and volatility, and are pleased to partner with an innovative company like BTCS."
Along with the expansion of its mining operations, BTCS released a new website, which includes a beta version of a multi-signature secure bitcoin storage solution built on Gem.co's multi-signature security platform. The beta version of the storage solution is currently only accessible by invitation. Additionally, BTCS is the only strategic investor in Gem.
"It was clear to us that BTCS was focused on offering a bitcoin storage solution that was both innovative and secure, and we were thrilled they chose Gem's multi-sig platform to deliver this unique solution to their customers," said Gem CEO and Founder Micah Winkelspecht.
The Company has also released an updated corporate presentation which can be found here:http://investors.btcs.com/BTCS_Corporate_Presentation_January_2015.pdf.
About BTCS:BTCS plans to build a universal digital currency platform with the goal of enabling users to engage in the digital currency ecosystem through one point of access. We currently operate our public beta site (www.btcs.com) where consumers can purchase products using digital currency such as bitcoin, litecoin and dogecoin, by searching through a selection of over 250,000 items. We provide our customers competitive pricing options from 256 retailers through our "Intelligent Shopping Engine." All ecommerce customer orders are fulfilled by third party vendors. We plan to use our ecommerce platform as a customer on-ramp for a broader digital currency platform. We have been actively partnering with strategic digital currency companies who have technologies, services or products that are complementary to our business strategy by making investments in them and integrating with them.
Forward Looking Statements:Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission, not limited to Risk Factors relating to its digital currency business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law. || Money Talks: Alternative Financing Might Be Right for Your Business: Most people stay pretty mum about their money. Business owners are no exception -- even when it comes to the cash they might need to have a discussion or two about: the capital they need to run their companies. They used to say nothing -- at least not publicly -- if they were turned down at the bank and less still if they sought capital from a source other than a traditional bank or union. And they were turned down often: A Harvard Business School study last year found that just 37 percent of small businesses applied for bank loans, and almost half of those -- 43 percent -- got less than what they requested. Or nothing at all. Weeks of paperwork and waiting, wasted. Oh, how the times have changed. Thanks to technology and a dismal bank lending climate, business owners have discovered alternative finance, and they're recognizing that it can be even better than a bank loan. Now that's something worth talking about. Related: Accepting Bitcoin Payments: The Risks and Benefits In 2008, there was more than $700 billion in loans of $1 million or less outstanding to small businesses in the U.S. By the end of 2013, there was less than $600 billion of these loans. The tighter lending protocols implemented as a result of the recession were choking off capital to small businesses. And even if money were available, there were fewer banks to lend it: The total number of banking institutions in the U.S. -- which had once been more than 18,000 -- fell to about 6,300 in 2013. This was only part of the problem. The U.S. Small Business Administration defines a small business loan as a loan of $1 million or less. It calls a loan of less than $100,000 a “micro” loan. But most small businesses need far less than even micro. They might need $10,000 for new equipment or $40,000 for new inventory. With their costly overhead, document-intensive processes and collateral requirements, loans that small are a non-starter for banks. It’s not surprising that small businesses have found another way: alternative finance and, more specifically, alternative finance delivered over the Web. Story continues Related: 3 Startups Offer New 'Microloan' Options for Entrepreneurs With Big Ambitions In just a few minutes, small business owners can research finance options that better match their needs and apply. They can get small amounts for short terms. They don’t need to feel shamed for a blemished credit record because alternative finance companies can be more flexible on credit risk, and they can use a broader range of metrics to gauge the likelihood of there being a problem with the funding down the road. Perhaps most importantly, business owners know almost instantly how much financing they'll qualify for. But all of that might have counted for very little if alternative finance hadn’t just become so cool. Alternative finance companies help businesses find funders they've never met who believe in their business and their prospects for growth. Business owners are speaking out about the funding they've gotten from alternative finance companies There are now more Google searches for alternative finance than there are for some of the country’s largest banks, and it's great that established businesses are creating partnerships with alternative finance companies. With new options coming from alternative finance providers, I don’t think it will be long before the alternative finance industry gets to say -- like McDonald’s -- “billions and billions served." Related: Crowdfunding's Growth Spurt Going Strong || Investors back startup that sells offgrid battery & solar panels: Batteries paired with solar panels aren’t justintriguing customers in the U.S., Europe and Japan looking to ditch their utilities. People are slowly adopting batteries and solar panels in offgrid markets, too, using their cell phones to make reoccurring micropayments and using solar energy to replace kerosene lanterns.
This week startupFenix International— which is based in San Francisco and Kampala, Uganda, and was founded in 2009 — announced that it has raised a Series B round of $12.6 million to get its battery and solar panel product into the hands of more customers. Fenixemerged from stealthin late 2010 with a plan to sell its lead acid battery product, which comes with a solar panel and other energy adapters, to customers in rural Africa.
Vodafone branded ReadySet charging cell phones.
The company struck deals with African telcoslike MTN in UgandaandVodafone in Tanzania for distribution. And alsoput its ReadySetbattery device on Kickstarter. If you’re interested in how it works you can read Gigaom writer Kevin Tofel’sreview of the ReadySet(I bought one, too).
One of the main hurdles to selling the battery product was that it cost between $150 to $199, which might not sound like a lot on Kickstarter, but for a customer in Uganda, it sure is. So more recently, in 2014, Fenix launched a mobile payment system in partnership with MTN that enables customers to pay for the battery and solar panels using cell phone payments over time.
Kevin Tofel uses a ReadySet to charge his iPad mini.
Fenix International’s CEO Mike Lin tells me that the company has now sold more than 25,000 solar systems to date, with more than 15,000 of those connected to their ReadyPay platform. Lin says they’ve recently started adding over 100 new households on ReadyPay solar each day.
This newer pay-as-you-go-solar service puts Fenix more in competition with companies like M-KOPA,a startup created by the early developersof Vodafone’s mobile payment system M-PESA. M-KOPA has sold pay-as-you-go solar products to100,000 customersand they’ve partnered with mobile carrier Safaricom. There’s alsoBritish startup Azuri Technologies, which has developed a cell phone solar payment system, and is also focused on rural Africa, andSimpa NetworksandMera Gao Powerthat are working in rural India.
Another startup called D.Lightsells offgrid solarproducts (like solar lanterns) and as of last year the company had sold six million devices, affecting the lives of about 29 million people. D.Light works with M-KOPA to sell pay-as-you-go solar panel systems for homes.
Fenix International’s ReadyPay solar system.
While the market for offgrid solar panels and battery systems is still small, it has a lot of promise and could grow dramatically in the future. The key to many of these markets is using mobile payments, partnering with local providers like telcos, and figuring out distribution.
Fenix has beenworking on this funding round since 2012, and investors include GDF Suez, Schneider Electric, Orange France Telecom, investors Tom Dinwoodie and Warner Philips, as well as others.
Image copyright Fenix International.
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• Investors back startup that sells offgrid battery & solar panels || 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. || Market Uncertainty Is A Golden Opportunity For Some: On Friday, gold prices rose as investors waited for U.S. non-farm payrolls data to deliver a clearer picture of the Federal Reserve’s timeline for a rate hike. The commodity has seen a marked increase over the past week as uncertainty around the globe has driven traders to seek security. Greek Woes The eurozone has been a major driver of market worries this week as Greece’s newly elected government continued to be at odds with the nation’s creditors. Despite reports that the two sides were willing to negotiate, the European Central Bank announced that it would no longer accept Greek bonds in exchange for funding unless Prime Minister Alexis Tsipras is able to strike a deal with the troika over Greece’s bailout program. Since Tsipras has been very vocal about his plans to reverse Greece’s previously agreed to bailout conditions, many worry that the nation will eventually be forced to exit the eurozone. Mixed U.S. Data Data from the U.S. has clouded estimates for the U.S. Federal Reserve’s rate hike, something that has been positive for gold. Although the bank was initially expected to raise rates early in 2015, many believe the Fed will push back its decision to tighten until the U.S. economy is on more stable ground. ECB Steps Away From Greece, Markets Sink The stronger dollar coupled with weak foreign growth widened the U.S. trade deficit in 2014, causing many to lower their expectations for U.S. GDP. If Friday’s non-farm payrolls report underwhelms, gold prices can be expected to rise even further as a weak figure would likely keep expectations for a rate hike at bay. See more from Benzinga Bitcoin Usage To Plummet, Report Says Colorado Has More Marijuana Tax Money Than It Knows What To Do With Snapchat Isn't Just For Teen Messaging Anymore © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments
[Random Sample of Social Media Buzz (last 60 days)]
BTCTurk 606.12 TL BTCe 247.998 $ CampBx 264.00 $ BitStamp 253.09 $ Cavirtex 277.03 $ CEXIO 247.85 $ Bitcoin.de 223.63 € #Bitcoin #btc || Current price: 247.35$ $BTCUSD $btc #bitcoin 2015-02-14 07:00:04 EST || LIVE: Profit = $3,877.30 (2.05 %). BUY B734.20 @ $258.00 (#BTCe). SELL @ $259.63 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || BTCTurk 682.49 TL BTCe 257.11 $ CampBx 263.56 $ BitStamp 259.00 $ Cavirtex 340 $ CEXIO 259.55 $ Bitcoin.de 248.97 € #Bitcoin #btc || In the last 10 mins, there were arb opps spanning 15 exchange pair(s), yielding profits ranging between $0.00 and $54.68 #bitcoin #btc || BTCTurk 609 TL BTCe 247.967 $ CampBx 255.00 $ BitStamp 253.77 $ Cavirtex 271.11 $ CEXIO 247.3 $ Bitcoin.de 222.26 € #Bitcoin #btc || 2015年3月23日 10:00:09
btc_jpy
直近[last]:32600円
買[bid]:32600円
売[ask]:32779円
高値[high]:32760円
安値[low]:31610円
API by Zaif || #RDD / #BTC on the exchanges:
Cryptsy: 0.00000009
Bittrex: 0.00000010
Average $2.2E-5 per #reddcoin
00:15:01 || In the last 10 mins, there were arb opps spanning 26 exchange pair(s), yielding profits ranging between $0.00 and $826.15 #bitcoin #btc || BTCTurk 603.19 TL BTCe 242.984 $ CampBx 262.00 $ BitStamp 247.56 $ Cavirtex 273.91 $ CEXIO 244.59 $ Bitcoin.de 221.66 € #Bitcoin #btc
|
Trend: up || Prices: 252.80, 242.71, 247.53, 244.22, 247.27, 253.01, 254.32, 253.70, 260.60, 255.49
|
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 2019-12-11]
BTC Price: 7217.43, BTC RSI: 36.69
Gold Price: 1469.40, Gold RSI: 49.45
Oil Price: 58.76, Oil RSI: 56.95
[Random Sample of News (last 60 days)]
Crypto Portfolio App Ember Seeks $1 Million in SEC-Registered Securities Sale: Ember Fund, makers of an AI-managed cryptocurrency portfolio app, is seeking to raise up to $1 million through a Securities and Exchange Commission-registered securities sale. The year-old company revealed their intention in today’s filing with the SEC , detailing their sale of “Crowd SAFE” securities that will occur through the end of January 2020 on Republic , an online startup investment platform. SAFE stands for “simple agreement for future equity;” it is an investment contract entitling holders to equity if and when Ember Fund is acquired or goes public. Investors must post a $100 minimum buy-in. Ember Fund markets itself as an app-based equivalent to crypto hedge fund, with an automated AI system re-balancing a portfolio of cryptocurrencies. Ember is not itself a hedge fund, however; as a non-custodial service Ember Fund never actually touches or transmits crypto – all coins remain on users’ phones. In May, Ember Fund CEO Alex Wang told CoinDesk that the service, that he and two others bootstrapped in 2018, saw nearly $2 million in transactions in April 2019. The current financial status is unknown because the company’s public reporting is until the end of 2018. The four-person company reported in their filing with the SEC that they had only $2,557.00 in cash on hand on December 31, 2018. Ember Fund’s reported loss for the year was $24,523.00. Wang told CoinDesk that they began processing transactions in November 2018. Ember Fund’s target fund numbers are relatively low; the minimum target sale is $25,000 and a maximum of $1,070,000. But Wang told CoinDesk the funding round – which he said is directed at “friends and family” – is small by design. “Our hope is really to raise as little money as possible,” said Wang, who wants to ensure that he and his founding partners Guillaume Torche and Mario Lazaro retain control of the company they founded, and funded, in 2018. Story continues Since that time Wang said they have learned their user acquisition costs and value, enabling Ember Funds to develop a strategy for continued growth. This, he said, makes them different from many move-fast-and-break-things-type California startups rushing to trade their equity for capital. “A lot of companies go out and raise a ton of money without having a business model. We took the other approach: let’s have a business model and then scale it up.” A transcript of a marketing video included in the SEC filing indicated that Ember Fund will use the capital to expand. The narrator, CTO Guillaume Torche says: “We have already processed about $10 million to the platform without any marketing budget. We’re at a point where we’re ready to scale.” Bitcoin markets image via Shutterstock || Chinese Bitcoin Mining Machine Maker Canaan Files for U.S. IPO: (Bloomberg) -- Canaan Inc., the worlds second-largest maker of Bitcoin mining machines, filed for a U.S. initial public offering. The Hangzhou, China-based company listed its offering size as $400 million in its filing Monday with the U.S. Securities and Exchange Commission. The amount is typically a placeholder that is likely to change. Canaan attempted a Hong Kong listing last year before letting its application lapse in November. The South China Morning Post has reported that the citys exchange and regulators consider IPOs by cryptocurrency companies to be premature. Canaan had planned to seek as much as $1 billion in the share sale, people with knowledge of the matter said at the time. The company reported a net loss of $48.2 million in the six months ended June 30, compared with a profit of 216.8 million yuan ($30.6 million) during the same period last year. The price of Bitcoin has halved since its 2017 peak to slightly more than $9,400 Monday. Bitmain Technologies Ltd., leading crypto mining firm and Canaans biggest rival, is also considering a U.S. IPO, Bloomberg reported in June. The offering is being led by Credit Suisse Group AG, Citigroup Inc., China Renaissance Holdings Ltd. and CMB International Capital Ltd. Canaan is planning to list its shares on the Nasdaq Global Market under the symbol CAN. To contact the reporter on this story: Crystal Tse in New York at [email protected] To contact the editors responsible for this story: Liana Baker at [email protected], Michael Hytha, Matthew Monks For more articles like this, please visit us at bloomberg.com ©2019 Bloomberg L.P. || 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
Tarbert first declared ether a commodityearlier 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 focusedon bringing optionson CME bitcoin futures to market in Q1 2020 and continuing to grow our CME CF Reference Rates and Real-Time Indices,” the spokesperson said.
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 toapproving 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.”
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 asCrypto Facilities) offers residents access tobitcoin cash, litecoin and XRP futurescontracts, 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.”
CFTCimage via Shutterstock
• CFTC Takes Action Against Crypto Options ‘Ponzi Scheme’
• Fearing USD Decline, Ex-CFTC Heads Propose a Blockchain-Based Digital Dollar || Hydroelectric power station converted into cryptomining plant: A historic power plant facing demolition has been saved by a cryptomining company. The Old Rainbow Powerhouse on the Missouri River in Montana was built between 1908 and 1910, and made a major contribution to the development of the state’s mining industry and electrification of its railroads. However, the site faced an uncertain future after it stopped operating in 2003. Now it will live on after the Federal Energy Regulatory Commission (FERC) approved an application to convert it into a cryptocurrency mining centre . Cryptocurrencies like Bitcoin can be “mined” using high-powered computers to solve incredibly complex mathematical problems. When computers solve these intricate questions, they produce new coins. The process consumes vast amounts of power , making the process unviable unless miners have access to cheap electricity. Bitcoin on coal An FERC document says the Northwestern Corporation proposed to lease the old powerhouse to California-based firm Susteen for cryptocurrency mining. The document states: “Based on the historic value of the Old Rainbow Powerhouse, a 110-year-old building, and the local community’s desire to preserve it, the licensee has worked with the Committee to identify a viable alternative use for the building that does not conflict with project operations, and is financially viable, safe, and secure. “The licensee filed the subject application requesting Commission approval to lease the Old Rainbow Powerhouse to Susteen for development as a Digital Asset Mining Data Centre. “The proposed data centre would have minimal impact and maintain the historic character of the building.” Susteen is a design solution provider that appears to be venturing into blockchain. The post Hydroelectric power station converted into cryptomining plant appeared first on Coin Rivet . || The Crypto Daily – Movers and Shakers -27/11/19: Bitcoin rose by 0.50% on Tuesday. Following on from a 2.84% rally on Monday, Bitcoin ended the day at $7,198.3. A bullish start to the day saw Bitcoin rise to a mid-morning intraday high $7,386.3 before hitting reverse. Falling short of the first major resistance level at $7,512.13, Bitcoin slid to a late morning intraday low $7,047.2. Steering clear of sub-$7,000 levels and the first major support level at $6,715.73, Bitcoin found support through the afternoon. Bitcoin moved back through to $7,200 levels before wrapping up the day at $7,198.3. In spite of 2 nd consecutive day in the green, the near-term bearish trend, formed at late June’s swing hi $13,764.0, remained firmly intact. For the bulls, Bitcoin would need to break out from $11,000 levels to form a near-term bullish trend. The Rest of the Pack Across the rest of the top 10 cryptos, it was another mixed day for the majors on Tuesday. EOS and Litecoin led the way, with gains of 3.64% and 3.14% on the day. Binance Coin (+1.25%), Bitcoin Cash ABC (+1.79%), Bitcoin Cash SV (+1.83%), Ethereum (+1.14%), and Ripple’s XRP (+1.37%) also saw solid gains. Stellar’s Lumen bucked the trend on the day, however, falling by 0.17%. From outside of the top 10, Tron’s TRX rallied by 8.08% on the day, as it looked to recover its number 10 spot. In the early part of the week, the crypto total market cap slid to a Monday low $180.76bn before rebounding to a Monday current week high $198.76bn. At the time of writing, the total market cap stood at $196.40bn. Bitcoin’s dominance held onto 66% levels, in spite of the more bullish start to the week for the broader market. 24-hour trading volumes fell back to sub-$80bn levels from $133bn levels earlier in the week. This Morning At the time of writing, Bitcoin was down by 1.29% to $7,105.3. A mixed start to the day saw Bitcoin rise to an early morning high $7,227.4 before falling to a low $7,100.0. Bitcoin left the major support and resistance levels untested early on. Story continues Elsewhere, it was a mixed start to the day for the majors. Stellar’s lumen bucked the trend once more, rising by 0.17%. It was red for the rest, however, with Bitcoin Cash SV sliding by 3.73% to lead the way down. For the Bitcoin Day Ahead Bitcoin would need to move back through to $7,210 levels to support a run at the first major resistance level at $7,374.0. Support from the broader market would be needed, however, to break through to $7,300 levels. Barring a broad-based crypto rally, Tuesday’s high $7,386.3 and first major resistance level would likely limit any upside. Failure to move back through to $7,200 levels could see Bitcoin slide deeper into the red. A fall back through the morning low $7,100.0 would bring the first major support level at $7,034.90 into play. Barring an extended crypto sell-off, however, Bitcoin should steer clear of sub-$7,000 support levels on the day This article was originally posted on FX Empire More From FXEMPIRE: EUR/USD Daily Forecast – Euro Remains Rangebound Above 1.10 Handle U.S. Dollar Index Futures (DX) Technical Analysis – Locked Inside Retracement Zone at 98.095 to 98.380 Gold Price Futures (GC) Technical Analysis – Thin Pre-Holiday Volume Ignites Dramatic Reversal Bottom Economic Data and Geopolitics Keep the Greenback in Focus Ethereum and Stellar’s Lumen Daily Tech Analysis – 27/11/19 Range-Bound Into The End Of 2019? || Bitcoin Faces Biggest Monthly Price Drop of 2019 Despite Late Upturn: • Bitcoin looks set to end November on a negative note. A monthly close below $8,300 could yield a deeper drop in December, according to a popular analyst.
• The hourly chart continues to call a move higher to $7,800–$8,200. A bull reversal would be confirmed on the three-day chart if prices close (UTC) above $7,380 today.
• Acceptance below $6,515 would invalidate the bullish hammer candle seen on the three-day chart and invite stronger selling pressure.
Bitcoin looks poised to post the biggest monthly loss of 2019, despite the recent recovery from six-month lows.
At press time, the number one cryptocurrency is priced at $7,530 on Bitstamp, representing a 17.6 percent loss from the Nov. 1 opening price of $9,586.
The percentage drop would have been over 30 percent had prices stayed at the six-month low of $6,515 hit on Nov. 25.
Related:What the Fed Reserve’s Balance Sheet Expansion Means for Bitcoin
Bitcoin last suffered a bigger monthly loss in November 2018. Back then, prices had tanked 37 percent, reviving the sell-off from the record high of $20,000 reached in December 2017. The cryptocurrency went on to hit a low of $3,122 in December 2018.
Bitcoinwas expectedto put on a good show in November with the miners’ reward halving due in May 2020. Historically, the cryptocurrency has picked up a bid six months ahead of the supply-cutting event.
This time, the run-up period has begun with a price drop, possibly due to miners selling off their bitcoin,as notedby popular analyst Willy Woo.
Bitcoin dropped from $13,000 to $7,500 in the third quarter and the price slide took a toll on miners’ profitability. Weak hands likely sold coins in November to recover their costs, strengthening bearish pressures around the cryptocurrency.
Related:Bitcoin Eyes $7,800 After Biggest Daily Price Gain in a Month
Looking forward, BTCmay suffera deeper drop in December if prices end the current month below $8,300, according to Woo.
Currently, a firm monthlyclose (Nov. 30, UTC) above $8,300 looks unlikely. That said, prices could riseto $8,000 before Saturday’s UTC close, as short-term technical charts areflashing bullish signals.
Bitcoin has bounced up from the former resistance-turned-support of the inverse head-and-shoulders neckline at $7,360, reinforcing the bullish breakout.
The moving averages (MAs) are indicating the path of least resistance is to the higher side. For instance, the 50- and 200-hour MAs have produced a bullish crossover and the 100-day MA looks set to cross above the 200-hour MA soon.
Meanwhile, therelative strength index is reporting bullish conditions with an above-50 print.
Bitcoin could rise to resistance near $7,800. A violation there would expose $8,200 (inverse head-and-shoulders target).
With the hourly chartreporting bullish conditions, BTC’s current 3-day candle looks set to end(Friday, UTC) above $7,380.
That would confirm the bearish-to-bullish trend change signaled by the hammer candle created in the three days to Nov. 26, and possibly yielding a rise to $8,200.
Sellers will likely make a strong comeback if prices drop below the hammer candle’s low of $6,515, although that looks unlikely at press time.
Disclosure: The author holds no cryptocurrency assets at the time of writing.
• What the Crypto Markets Are Saying About the Future of Bitcoin
• Lebanese Bitcoiners Show How to Talk About Crypto At Thanksgiving || Silver Prices Slip to 5-Week Low as Risk Appetite Improves: Silver continues to lose ground in Friday trade, after sustaining sharp losses on Thursday. In the European session, the metal is trading at $16.97, down $0.13 or 0.81% on the day.
Silver fell by almost 3.0% on Thursday, marking the sharpest one-day decline since September 30. The pair dropped below the 17.00 level for the first time since October 1, and the metal is currently trading at 16.98.
Silver has plunged 6.2% this week, as the metal is headed towards its worst week since October 2016. Precious metals are sharply lower, as investor risk appetite has climbed, sending equity markets higher. The catalyst for the optimism is renewed expectations that the U.S. and China are close to reaching an interim trade deal, known as “Phase 1”. This would allow the two countries to reach a limited trade agreement, while leaving the most intractable issues for another round of negotiations. On Wednesday, the Chinese commerce ministry announced that the two countries would phase out the trade war tariffs, but it did not provide a timetable for such a move. A new trade deal could significantly boost global trade, which has been damaged by the bitter trade war. If there are further signs that a deal is near, traders can expect silver prices to continue to head lower.
Silver’s sharp slide this week has pushed the metal below the key support line of $17.00. This is a significant development, as the line has held since October 1. On the downside, we find support at 16.50, which last saw action in early August. On the upside, the 50-EMA, which is at 17.56, could act as a short-term resistance line. Higher up, there is resistance at 18.30.
Thisarticlewas originally posted on FX Empire
• Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 08/11/19
• Wait… Was That a Bullish Silver Reversal?
• Asian Shares Weaken as Tariff Rollback Optimism Softens
• GBP/USD Daily Forecast – British Pound Hovers Near Three-Week Lows Post BoE
• USD/JPY Fundamental Daily Forecast – Rising Yields Exerting Upside Pressure
• GBP/USD, EUR/GBP, USD/CAD – Limited Movement Ahead of Weekend || Bitcoin Hovers Near Price Support as Long-Term Bear Cross Looms: • BTC is on the defensive and may face selling pressure in the run up to the bearish crossover of the 100- and 200-day averages.
• Prices will likely breach the 50-day average support near $8,550 and extend losses toward $8,000 in the short term.
• Confirmation of the bear cross may mark an interim bottom in BTC, according to historical data.
• A high-volume move above a three-month descending trendline, currently at $9,200, is needed to revive the bullish view.
Bitcoin risks falling below key support near $8,550, with a widely followed bitcoin price indicator teasing its first bearish turn in over a year.
The top cryptocurrency by market value is currently trading at $8,610 on Bitstamp, having bounced up from the 50-day moving average (MA) support at $8,543 earlier today.
The 50-day MA has been restricting downside since Nov. 8, but may be breached soon, courtesy of a looming bearish crossover between major price averages.
Related:CME Says It Will Launch Bitcoin Options in January
Bitcoin’s 100-day MA (now at $9,436) is now beginning to trend south and looks set to cross below the 200-day MA (at $9,290) in the next couple of days. That would confirm a bearish crossover – the first of these MAs since April 17, 2018.
Seasoned traders would argue that MA crossovers are based on past data and are lagging indicators. While that’s true, BTC is already on the defensive, having repeatedly failed to break above a 3.5-month bearish trendline in the last three weeks.
The cryptocurrency has also found acceptance below the 200-day MA – a barometer of long-term trend. As such, the impending bear cross will likely bolster the bearish sentiment and give prices another nudge down.
The cryptocurrency has pulled back from $9,300 to $8,600 in the last few days, validating the bearish view put forward by the multiple rejections at the trendline connecting June and August highs.
Related:Alibaba Offers Bitcoin Rewards Through Lolli Shopping App for ‘Singles Day’
The relative strength index is hovering below 50, indicating a bearish bias, while the MACD histogram is producing deeper bars below the zero line – also a sign of strengthening downside momentum.
So, the 50-day MA support at $8,543 could be breached ahead of the bear cross. Below that level, the next major support is seen at $8,000.
The bearish case would weaken if there is a strong bounce from the 50-day MA, but that seems a tall order right now. A high-volume UTC close above the descending trendline hurdle at $9,200 is needed for bullish reversal.
Note that confirmation of the bear cross, however, could mark an interim bottom in BTC, as has been seen historically.
BTC sell-off ran out of steam near $275 two days ahead of a bear cross confirmation on Oct. 7, 2014, following which prices jumped to levels above $400 by mid-October, according to Bitstamp data. Another bear cross on April 29 the same year was followed by consolidation in the range of $420-$450 and a rally to $680 by early June.
And in 2018, prices rallied from $7,900 to levels near $10,000 in the 2.5 weeks following the bear cross in mid-April.
Back then, BTC was better bid in the days leading up to the crossover with prices rising from $6,500 to $8,500. In such situations, looming bearish crossovers barely receive any market attention.
Disclosure: The author holds no cryptocurrency assets at the time of writing.
Bitcoinimage via Shutterstock; charts byTrading View
• Bitcoin Price Faces Drop to $8.5K After Consecutive Weekly Losses
• Why Bitcoin’s Next ‘Halving’ May Not Pump the Price Like Last Time || Crypto Industry Celebrates Bitcoin Whitepaper 11th Anniversary: The world’s first cryptocurrency Bitcoin celebrated its 11th birthday on Oct. 31.
This is the day when an anonymous actor(s) publicly introduced the digital currency in awhitepaperentitled “Bitcoin: A Peer-to-Peer Electronic Cash System,” under the name Satoshi Nakamoto.
The Bitcoin genesis block was later mined by Nakamoto in January 2009 — creating the first 50 Bitcoins, and bringing the currency into real action.
Regulatory Hurdles and Critics
Through these 11 years, many prominent individuals and organizations, includingWarren Buffett, Bill Gates, andJamie Dimon, have predicted Bitcoin’s “impending doom,” calling it a “bubble,” an “exit scam,” or even “rat poison squared,” among other things.
Many governments across the globe have also come around the idea of a decentralized currency.
Pizza For $91M, Anyone?
On May 22, 2010, Bitcoin programmer Laszlo Hanyecz paid 10,000 BTC to a fellow Bitcoin advocate for a couple ofPapa John’s(NASDAQ:PZZA) pizzas.
Those pizzas sold for approximately $41 at the time, are now worth $91.3 million, as of today’s market price for Bitcoin at $9,137.4.
May 22 is celebrated as “Bitcoin Pizza Day” in the community and used to highlight the success of Bitcoin as a financial instrument over the years.
Bitcoin shortly crossed over $20,000 in December 2017, hitting its highest value ever before falling down again.
Increased Competition, But Bitcoin Still King
Digital currency tracking platform CoinMarketCap lists more than 2300 coins on its website. Yet, Bitcoin makes up for more than 67% of the total cryptocurrency market cap, while the other coins share the rest.
Bitcoin also faces competition from traditional companies and banks, who want to launch their own versions of blockchain-based currencies. But the most ardent supporters stick with Bitcoin’s decentralized model.
See more from Benzinga
• Cryptocurrencies Remain Bullish Following China's Praise For Blockchain
© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || The Crypto Daily – Movers and Shakers -01/12/19: Bitcoin fell by 2.52% on Saturday. Partially reversing a 4.50% rally from Friday, Bitcoin ended the day at $7,599.9. A mixed start to the day saw Bitcoin rise to a late morning intraday high $7,861.6 before hitting reverse. Falling short of the first major resistance level at $8,003.33, Bitcoin slid to a late afternoon intraday low $7,492.00. Bitcoin fell through the first major support level at $7,519.93 before finding support. A move back through the first major support level to $7,600 levels was short-lived, however. Bitcoin closed out the day at $7,500 levels to end the month of November down by 17.3%. The near-term bearish trend, formed at late June’s swing hi $13,764.0, remained firmly intact, in spite of 4 days in the green from 6. For the bulls, Bitcoin would need to break out from $11,000 levels to form a near-term bullish trend. The Rest of the Pack Across the rest of the top 10 cryptos, it was a bearish day for the majors on Saturday. Binance Coin and Bitcoin Cash ABC led the way down, with losses of 3.32% and 3.23% respectively. Litecoin (-2.86%), Ripple’s XRP (-2.19%), and Stellar’s Lumen (-2.82%) also saw relatively heavy losses. EOS (1.65%), Ethereum (-1.92%), and Bitcoin Cash SV (-1.94%) fared better than the rest. The last day of the month was a reflection of the bearish November that left the majors deep in the red. Binance Coin (-21.1%), Bitcoin Cash ABC (-23.2%), and Ripple’s XRP (-23.3%) saw the heaviest losses. Things were not much better elsewhere, however. Bitcoin Cash SV (-16.7%), EOS (-15.4%), Ethereum (-16.8%), Litecoin (-19.1%), and Stellar’s Lumen (-11.4%) also saw double digit losses. Through the current week, the crypto total market cap slid to a Monday low $180.76bn before rebounding to a Saturday current week high $211.90bn. While recovering in the week, the total market cap sat well below a November high $254.2bn. At the time of writing, the total market cap stood at $202.40bn. Story continues Bitcoin’s dominance held on to 66% levels in spite of Saturday’s fall. 24-hour trading volumes did fall back to sub-$60bn levels on Saturday, having peaked at $133bn levels earlier in the week. This Morning At the time of writing, Bitcoin was down by 2.19% to $7,433.4. A particularly bearish start to the day saw Bitcoin slide from an early morning high $7,600.1 to a low $7,420.0. Falling short of the major resistance levels, Bitcoin fell through the first major support level at $7,440.73. Elsewhere, it was a sea of red across the crypto board. Binance Coin and Bitcoin Cash SV led the way down, with losses of 3.0% and 3.6% respectively. Ethereum (-2.4%), Litecoin (2.8%), and Stellar’s Lumen (2.1%) also saw heavy losses early on. Bitcoin Cash ABC (-1.5%), EOS (1.7%), and Ripple’s XRP (-1.7%) saw relatively modest losses, however. For the Bitcoin Day Ahead Bitcoin would need to move back through the first major support level to $7,650 levels to support a run at the first major resistance level at $7,810.33. Support from the broader market would be needed, however, for Bitcoin to break out from $7,600 levels. Barring a broad-based crypto rebound, resistance at $7,600 levels would likely cap any upside. Failure to move through $7,650 levels could see Bitcoin spend a 2 nd consecutive day in the red. A fall through to sub-$7,400 levels would bring the second major support level at $7,281.57 into play before any recovery. Barring a crypto meltdown, however, Bitcoin should steer clear of sub-$7,000 for a 4 th consecutive day. This article was originally posted on FX Empire More From FXEMPIRE: E-mini S&P 500 Index (ES) Futures Technical Analysis – Sellers Targeting 3122.75 to 3109.00 Retracement Levels Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 30/11/19 Oil Price Fundamental Weekly Forecast – Bearish Factors Adding Up; Expect Volatility into OPEC+ Meeting Brent Crude Price Futures (BZ) Technical Analysis – Testing Critical Support Cluster at $60.47 to $60.35 NZD/USD Forex Technical Analysis – Strengthens Over .6411, Weakens Under .6394 The UK General Election – Odds, Polls, and Predictions End of Week Update
[Random Sample of Social Media Buzz (last 60 days)]
S&P 500 futures are up this morning, and so is bitcoin. So...what's this about bitcoin being a "digital gold"? Download our white paper on evaluating bitcoin's "safe haven" narrative. #CoinDeskResearch https://t.co/4t7LkfkMug https://t.co/PdYVG5SUDd - coindesk - … || @DTAPCAP There ARE ways to partly control Bitcoin of course, like what Coinbase is doing for example. First it's a buy/sell service, then a place to hold, then a tool to spend. This will probably allow them to do reserve fractioning in the future. Gemini are also well established there. || I’m hot im just seeing this being that I live 400 miles up north 🤦🏾♂️ https://t.co/jA5rbYBbih || Government backed #cryptocurrency? $FB #bitcoin https://t.co/Be5djdrKQq || @HodlerMonkey john_joseph02 21 sats are now yours courtesy of @HodlerMonkey. Claim them within 7 days by linking Twitter to your Bitcoin wallet at https://t.co/GBTZ00D2t5 🚀 || ZaifスマートATMやLocalBitcoinsなどと違い、双方が対等な関係でBitcoinなどの暗号通貨の売買ができるサイトです。
「手数料の安さと、匿名性のどちらも大事」という方は、ぜひご利用ください！
https://t.co/bYqAjn9t1E
#Bitcoin || Precio actual del #Bitcoin, #Ethereum y #Ripple
1 $USD = $19.14 MXN
1 $BTC = $176,551.91 MXN
1 $ETH = $3,503.24 MXN
1 $XRP = $5.60 MXN
1 $LTC = $1,112.96 MXN
1 $BCH = $5,383.81 MXN
Compra y Vende Bitcoin, Ethereum y Ripple desde aquí: https://t.co/EgcahDQQRb || Thats an ugly 4 hour candle $BTC https://t.co/m9xSqMqSKw || BIP 197
Hashed Time-Locked Collateral Contract BIP & arxiv paper
https://t.co/JHh3NTcrDX
https://t.co/ZzMMoFCJhg || BTC人材が必要だということをグロービスが提唱している。
テクノロジー寄りのMBAをやっている。ビジネスやっている人がデザインを知らないだとビジネスが成功しない、成功を描けない状態。
#Designship2019
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Trend: no change || Prices: 7243.13, 7269.68, 7124.67, 7152.30, 6932.48, 6640.52, 7276.80, 7202.84, 7218.82, 7191.16
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2020-07-23]
BTC Price: 9581.07, BTC RSI: 63.31
Gold Price: 1889.10, Gold RSI: 77.22
Oil Price: 41.07, Oil RSI: 58.18
[Random Sample of News (last 60 days)]
Crypto Long & Short: Why the Twitter Hack Was Good for Bitcoin (and It’s Not the Media Attention): Every year has a handful of days that you’ll never forget. Sometimes for great reasons, sometimes for awful ones, and sometimes because a level of noise and action coalesces into an awareness that something big has shifted.
Wednesday was one of those days, with the staccato ofcompromised Twitter accounts(including ours) escalating to reach prominent public figures including current and former heads of state. Thescale of the hackwas spectacular.
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 Futures Trading Volume Slips to 3-Month Low on CME
The mainstream presscalled thisa “bitcoin scam,” and to some extent it was – the hacker set up the typical ploy of promising to send back double whatever amount of bitcoin anyone sent to a certain wallet. It’s amazing that people fall for this.
But some people do – a total of $123,000 worth of BTC was sent inapproximately 400 transactionsin total (some may have been the hackerrecycling coinsto inflate the activity). 17 transactions sent more than $1,000. Glossing over the fact that this is an astonishingly small amount for the scale of the hack, some skeptics took the opportunity to remind everyone how bitcoin was ascammer’s paradise.
Some commentators went as far as tocall for the banning of bitcoin.“If bitcoin were illegal,”goes the reasoning,“this wouldn’t happen.” Of course, this brought out the defenders by the droves, who pointed out – among other compelling arguments – that making something illegal doesn’t stop it from happening; it often just makes it harder to monitor. And banning bitcoin would not stop its use noreliminate its value.
But it did highlight a pervasive concern among many mainstream investors: a lack of regulatory clarity. Could the U.S. decide to outlaw bitcoin transactions within its jurisdiction? The very possibility is understandably enough to keep cautious investors away.
Related:The Origins of the World's Oldest Bitcoin Metric, Explained
Technically, the U.S. could not ban bitcoin on a global scale – bitcoin lives on a distributed network that would continue to exist even if U.S.-based nodes shut off and U.S.-based users dropped out. One of the strengths of bitcoin is that it is out of the range of state actors.
But, realistically, making the holding or transacting of bitcoin illegal for U.S.-based entities and individuals would be a big shock to the price as its store of value narrative would take a significant hit.
What’s more, the U.S. hasconsiderable influenceover the FATF, which sets anti-money laundering and anti-terrorist financing systems for the world’s banks and payments companies. The organization could be pressured to penalize governments that allow cryptocurrency services within their jurisdiction.Yet all of these concerns seem unfounded. Last week, the FATFannouncedits intention to step up crypto asset supervision with a view to building a global framework, which implies an interest in monitoring rather than stopping.
And in the wake of the Twitter hack, thetalk coming out of Washingtonis not about bitcoin. The concern is the centralization of platforms. Twitter is under scrutiny much more than bitcoin.
If regulators were going to jump on the ban-bitcoin bandwagon, given the media frenzy, now would be the time. That they havenotdone so is a strong sign of acceptance. True, there may yet be hiccups ahead in the road to systemic support – but so far, the concern is more about the vulnerabilities in centralized services.
Furthermore, the amount of bitcoin involved in the scam is minuscule compared to what the takecouldhave been, given the scale of the operation. Maybe the public is becoming more scam-savvy? And we should all be grateful that the hackers only wanted bitcoin, when you consider that they had control of the Twitter accounts of the likes of Elon Musk, Joe Biden, Benjamin Netanyahu, Barack Obama, Apple…
The lack of focus on bitcoin in Washington this week is a step forward, especially in the eyes of professional investors eager for greater regulatory clarity. If indeed bitcoin does weather this without louder calls for a clampdown, that is a strong sign that regulators acknowledge that bitcoin is here to stay.
Another way in which the Twitter hack was positive for bitcoin is the spotlight shone on the forensic transparency of the network.
Within hours of the hack, blockchain analysts were alreadyconstructing profilesof the hacker’s history andtracking the movementsof the ill-gotten funds.
The wallets in question may not have a name and address associated with them, but they are indelibly there for anyone to monitor, and transactions into and out of these wallets cannot be hidden nor undone. Digital fiat money transfers may have associated names and addresses, but movements are easier to obscure. And names and addresses can be faked.
What’s more, the fact that anyone can access this data spreads the potential for useful information coming to light. While there may initially bedifferent interpretationsof the addresses and transfers, a consensus interpretation tends to emerge, which is likely to be a help to law enforcement. And forensic techniques are advancing, as is the diversity of approaches to blockchain data analysis. This should reassure regulators that bitcoin-related crime is not the threat to society some skeptics claim.
It is true that having bitcoin in mainstream headlines is good for its “brand recognition” – but, in this case, the association with scams is not in its favor. Yet while politicians do pay attention to what the media is saying, by next week the “bitcoin scam” headlines will have faded into the pixels of time, given the frenetic news cycle we live in.
And the market itself does not seem worried – the bitcoin pricebarely budgedin the aftermath of the news.
The lasting effect will be a deeper understanding for those willing to ask the right questions, not just about bitcoin’sseizure resistancebut also about how one weak access point left so much power in a bad actor’s hands.
That is a third beneficial outcome that should strengthen interest in blockchain applications beyond crypto assets. Growing concern overcentralized vulnerabilitiesincommunication platformsis just the beginning. From there to worrying about vulnerabilities in the centralized financial systems on which our society runs is not that big a step.
This week exemplified the seesaw of good news swiftly followed by dampeners. Better-than-expected earnings were offset byforecast downgrades,which seem to be spooking investors.Vaccine optimism,buoyed by positive results from a few laboratories, yet again got tempered byvaccine realism,as even really good candidates could take years before they become widely available. And when it comes to the evolution of the number of COVID-19 cases,positive newsin some areas was offset bydevastating newsin others.
The S&P 500 is very close to having clawed back its losses for the year-to-date, and by the time you read this, might well have done so. It is 7% higher than this time last year. I’ve given up wondering what economic outlook it is discounting.
Bitcoin has had a lackluster performance so far this month, yet it continues to outperform other major indices and assets on a year-to-date basis. Itslack of volatilityhas traders champing at the bit, however, and the emotional tension of waiting for a breakout, any breakout, could soonstart to impacttrading patterns.
Crypto asset fund managerGrayscale Investments*released its Q2 report,which revealed new investment of over $900 million over the quarter, its largest quarterly inflow to date, and 80% more than the previous quarterly high in Q1.TAKEAWAY:While the BTC price has been stagnant of late, it appreciated over 40% in Q2, largely as part of a broader market recovery from post-crash lows, but also perhaps partially because of growing institutional support. We don’t know, however, how much of the inflow is new investment and how much is recycled as qualified investors sell their holding in the marketat a premiumand buy back in at par. (*Grayscale is owned by DCG, also the parent of CoinDesk.)
Lex Sokolin, the CMO and Global Fintech Co-Head at Ethereum laboratory ConsenSys,published an analysisof the rumored upcoming listing of crypto exchangeCoinbase. TAKEAWAY:The lack of available data at the current time is one major obstacle for analysts trying to get a feel for what a listing valuation could be, but Lex does an admirable job of scraping information from public sources. Yet even if/when listing documents are filed and more numbers become available, analysts will still have a hard time figuring this one out: what exactlyisCoinbase? Is it an exchange? A bank? A custodian?
Crypto data providerCoin Metricshas published areport on stablecoinsthat looks into their explosive growth: It took supply five years to reach $6 billion in March 2012, and only four months since then to double that.TAKEAWAY:The report takes a close look at pegs – not everyone realizes that dollar stablecoins are not always worth $1, and that the difference can exert a material influence on supply as issuers arbitrage profit opportunities.
Crypto fund managerArcareviewed its 2020 predictionsfrom January, and updated them for the rest of the year.TAKEAWAY:The ones I found particularly interesting included the growth in non-crypto companies issuing crypto tokens, the rise of non-fungible tokens as an asset group and the growing influence of younger generations (I wrote moreabout this here).
Bitcoin minerssent less bitcointo exchanges during the second quarter of 2020 than at any time over the past 12 months.TAKEAWAY:This can be taken as bullish (miners are choosing to hold onto their mined bitcoin because they believe the price will go up) or bearish (they would rather not sell into what they think will be a weak market). Either way, we should remember that newly mined bitcoins now account for a very small fraction of trading volume, so the influence of miners’ decisions is mitigated. Their actions are worth watching, however, as most have close relationships with OTC desks that move high volumes and have their ear to the ground.
The number of addresses holding a large number of bitcoins, known as“whale addresses,”has declined to a 14-month low.TAKEAWAY:As with the miner flows metric above, this can also be either bearish or bullish. It’s not positive news for the asset price outlook to see large holders reduce their stakes; but a broader distribution of ownership is better for price resilience.
U.S.-based digital asset firmBitOodapublished a report,together with the Fidelity Center for Applied Technology, that shows 50% of bitcoin mining is in China, and 14% in the U.S.TAKEAWAY:Earlier estimates had put China’s market shareat 65%,so if these figures are accurate, the bitcoin mining industry is becoming more decentralized and less dependent on China.
Crypto financial appAbrahassettled charges from the SEC and the CFTCrelating to its offering of synthetic swaps to retail investors without registering or selling them on a recognized national exchange. Abra and its Philippines-based partner company Plutus will pay $300,000 in fines and do not have to acknowledge the accusations.TAKEAWAY:This is the long arm of the law in action. Abra limited its offering to non-U.S. investors, and moved most of its operations overseas. But the regulators determined that having an office in San Francisco from which the contracts were marketed and hedged, serving a handful of U.S. retail investors that got through the geofencing, and having marketed to retail investors in the early days of the contract, put Abra in violation of securities laws. In other words, it doesn’t matter where your main base is – if your activity touches U.S. citizens and/or U.S. soil, you fall under U.S. jurisdiction.
On a recent panel, Linda Lacewell, superintendent of the New York Department of Financial Services (NYDFS), said that therecent changes totheBitLicenselaw were being well received.TAKEAWAY:The original BitLicense, which emerged just over five years ago as a requirement for any crypto business wanting to operate in the state of New York, received significant criticism for its onerous application obligations and the high cost of compliance. Lacewell introduced some reforms to the regulation that aimed to lower the barriers and encourage more experimentation. It’s not surprising they are being well received, but it is good news to get the confirmation. Many crypto businesses chose to not do business in New York as a result of the original design, and the update does not mean they will come back. But Wall Street is one of the greatest financial centers in the world, and if crypto is going to run with the “big boys,” a presence at the heart of finance will be a step forward in the push to position crypto assets as a respectable investment for institutional portfolios.
Bitcoin Core contributor Jeremy Rubin has revealed his work on anew smart-contract language for BitcoincalledSapio,which he hopes will increase the “financial self-sovereignty” of users.TAKEAWAY:It’s worth keeping an eye on technological developments even in assets that, for many, are based on the store-of-value narrative. Enhanced smart contract ability will not only potentially lend application functionalities to Bitcoin, giving it a “residual value” and further likening it to gold (which, as well as an investment asset, is used in jewelry, technology, dentistry, etc.); it could also make it easier and/or safer to custody and exchange.
BitGowill offer API support for the latest “Travel Rule”guidelines from the FATFthat stipulate originators and beneficiaries of financial transactions over $1,000 be identified.TAKEAWAY:This was always going to be a difficult proposition with crypto assets, since identification of both ends of a transaction is often not possible, and goes against the integral idea that transfers can be decentralized and independent of a third party. The FATF’s reach is long, however, and non-compliance is likely to be costly for jurisdictions that cannot control crypto activity within their boundaries. Technological aids like BitGo’s API, provided by a firm with a long history of custodial services, are likely to calm fears of both regulators and clients. Plus, BitGo’s origin is as a custody technology provider – in 2013, it launched the first multi-sig wallet, a staple of custody technology today.
Also,Shyft Networkthis week announced thatit is releasingits blockchain-based solution to help crypto companies comply with the FATF requirements.TAKEAWAY:Tools like this are trying to get ahead of what is going to be a significant problem: the security vulnerabilities inherent in the FATF’s requirement to send sensitive financial information back and forth.
Thecrypto options marketis growing fast,both in volumes and in number of platforms. Gate.io, a relatively small offshore exchange, has launched a new options trading feature, and Singapore-based exchange Huobi, which already offers futures and perpetual swaps, plans to do so later this year.TAKEAWAY:Growth in options is a sign of a maturing market, and a necessary step for greater institutional involvement. How long this growth will continue is an open question, especially given the declining volumes in crypto spot and futures markets.
Switzerland-based crypto custodianMetacohasclosed a Series A roundthat was reportedly oversubscribed by a factor of two. Investors include Standard Chartered, smart-card and currency note printer Giesecke+Devrient, Zürcher Kantonalbank (the fourth largest bank in Switzerland), and the country’s postal service Swiss Post.TAKEAWAY:That this was reportedly oversubscribed is a sign of growing interest in Europe in digital asset market infrastructure. Also, the mix and profile of the investors is intriguing.
Podcast episodes worth listening to:
• Does COVID-19 Have the World Rethinking Dollar Supremacy?– The Breakdown, Nathaniel Whittemore
• Why Bitcoin Now: Michael Casey and Niall Ferguson on How Bitcoin Fits in the History of Money– Unchained, Laura Shin
• Angrynomics: Why the World is So Angry, with Mark Byth, Eric Lonergan and Linda Yueh– Intelligence Squared
• Caitlin Long (Avanti Financial Group) on Bitcoin banks and the Wyoming SPDI– On the Brink, Nic Carter
• Lyn Alden: The Road to Inflation– Macro Voices, Erik Townsend
• Crypto Long & Short: Why the Twitter Hack Was Good for Bitcoin (and It’s Not the Media Attention)
• Crypto Long & Short: Why the Twitter Hack Was Good for Bitcoin (and It’s Not the Media Attention) || Bitcoin Options Market Faces Record $1 Billion Expiry on Friday: Bitcoins (BTC) derivatives continue to grow despite light spot trading over the past two months. The cryptocurrencys options market is on its way to a record $1 billion monthly expiry this Friday. At press time, there are 114,700 option contracts (notional value of over $1 billion) set to expire on June 26 across major exchanges Deribit, CME, Bakkt, OKEx, LedgerX according to data provided by the crypto derivatives research firm Skew . Options are derivative contracts that give buyers the right but not obligation to buy or sell the underlying asset at a predetermined price on or before a specific date. A call option gives the right to buy and the put option represents the right to sell. With options, traders can make bullish or bearish bets on contracts at various price levels called strikes that expire in different months. Related: First Mover: Whats Going On With Bitcoin Derivatives? This is definitely the largest BTC option expiry by a country mile, said Vishal Shah, an options trader and founder of Polychain Capital-backed derivatives exchange Alpha5. Meanwhile, Skew CEO Emmanuel Goh said that with big quarterly expiry, you tend to see some pinning and then the market moving post-expiry. Option expiries can influence market direction via a process known as pinning in which option traders try to move the spot price to avoid sharp losses. See also: Miners Are Sending Bitcoins to Exchanges Again And That May Be Bearish Related: Bitcoin Still on Track for Quarterly Gains After Drop Toward $9K Holders who benefit from higher prices in the underlying asset put sellers and call buyers often take long positions in the spot market to raise prices before the expiration date. On the other hand, put buyers and call sellers, who benefit from a drop in the underlying asset, take short positions in the spot market to keep prices under pressure ahead of expiry. Story continues The tug of war often leads to prices being pinned at or near the strike price where a large number of open positions are concentrated. Depending on where the open interest [open positions] is scattered, you could be in the game to pin strikes, Shah told CoinDesk, and added further that, the bulk of distribution of OI [open interest] in general is skewed slightly higher. Indeed, open interest is concentrated at $10,000 and $11,000 strike prices. Meanwhile, on the downside, notable open interest buildup is seen at $9,000 strike. According to Pankaj Balani, CEO and founder of Singapore-based Delta Exchange, traders have sold a good amount of calls around $10,000-$11,000 strikes for the June expiry. As a result, $10,000 may act as a stiff resistance heading into expiry. If prices begin to rise, call sellers may take short positions in the spot markets in order to keep the cryptocurrency from scaling the $10,000 mark. At press time, bitcoin was changing hands near $9,400, representing a 2.5% decline on the day. The cryptocurrency has traded largely in the range of $9,000 to $10,000 ever since its third reward halving , which took place on May 11. Post-expiry volatility? Bitcoin may become vulnerable to violent price moves over the coming months if traders rollover short positions in June contracts to July and September expiry. A rollover refers to squaring off positions in contracts nearing expiry and replicating the same position in the next-nearest expiry. As noted earlier, there has been significant call writing (selling) at $10,000 and $11,000 strike prices. Alpha5s Vishal Shah says there is risk in transporting short positions to July or September expiry as bitcoin options are at a very low level of implied volatility historically. This is definitely the largest BTC option expiry by a country mile. The three-month implied volatility is hovering below its lifetime average of 96.6% on an annualized basis, according to data source Skew. A prolonged period of low volatility consolidation, similar to the one seen over the past two months, often paves the way for a big move in either direction. Thus, if traders rollover short positions, they face risk of an impending rise in volatility that would make options costlier. That, in turn, would lead to more chaotic trading and further rise in volatility. If the current options structures [short position] are replicated into July and September expiries, traders would run into a potential situation of having sold too low in terms of volatility. That can bring in all types of complications, and lead to some disorderly behavior if and when the spot picks up directionality, said Shah. Volatility has a positive impact on option prices. The higher the volatility (uncertainty), the stronger is the hedging demand for options. Seasoned traders often sell options when volatility is well above its lifetime average and buy options when volatility is too low. Options expiry a non-event? Some analysts say bitcoins options market is too small to have any meaningful impact on the cryptocurrencies price. Options expiry is unlikely to have an influence on price action in comparison to the impact of futures expiry, said Richard Rosenblum, co-founder, and co-head of trading at crypto liquidity provider GSR. But we expect options volumes to continue growing, options could end up having a bigger impact in the long term. Indeed, global option volumes are only 1% of total futures and swap volumes, analysts at cryptocurrency exchange Luno noted in its weekly report. Meanwhile, there is a sizable open interest of 4,605 contracts ($214 million at current price) in CME futures expiring in June, which is yet to be rolled over the July contracts, as noted by Ecoinometrics, a bitcoin analysis company. See also: First Mover: Bitcoins Recent Stability May Come From a Fleeting Correlation With Equities If these are residual longs from the reverse cash-and-carry arbitrage that was available in March and are covered with spot buying into the expiry, we will have opposing forces at play, which will further add to price volatility, Balani told CoinDesk. Reverse cash-and-carry arbitrage is a market-neutral strategy, wherein a trader takes a sell position in the spot market and a long position in the futures market. This strategy is implemented when futures trade at a notable discount to spot price. For instance, following the March crash, futures were trading at nearly a 4% discount to the spot price. Back then, traders may have bought futures and sold BTC in the spot market, thereby locking a 4% riskless return. This is because futures converge with the spot price on the day of expiry. Traders would either square off long futures positions on or before Friday or let them lapse and buy bitcoin in the spot market. That could lead to a two-way business in the spot market. Related Stories Bitcoin Options Market Faces Record $1 Billion Expiry on Friday Bitcoin Options Market Faces Record $1 Billion Expiry on Friday || Binance Joins Indian Tech Association That Helped Overturn Crypto Banking Ban: Binance, the worlds largest cryptocurrency exchange by trade volume, has joined the Indian tech industry association that helped overturn the nations crypto banking ban earlier this year. The cooperation between Binance and the Internet and Mobile Association of India (IAMAI) is an early step in implementing industry best practices in the Indian crypto market, according to a press statement. Indias crypto sector has rapidly emerged after the lifting of a de facto ban in March 2020. Binance is now a member of the IAMAIs crypto committee. The IAMAI is a not-for-profit trade body of digital businesses operating within the country. Its role is to expand and enhance the online and mobile value-added services sectors, according to the bodys website . Notably, the IAMAI led the petition that sought to overturn a crypto banking ban imposed by the countrys central bank in April 2018. The Supreme Court ruled in favor of the crypto industry in March 2020. Read more: After Court Victory, Indian Exchanges Gear Up for Crypto Trading Surge We warmly welcome Binance as a member of the Crypto Asset Committee of IAMAI, Gaurav Chopra, vice president of IAMAI, said in a press release. Given their hands-on experience of regulatory compliance in various countries, we are excited to work with Binance and other industry players in developing a constructive policy framework for crypto assets in India, helping other exchanges operate in India compliantly and developing a strong framework to foster innovation while managing potential risks, Chopra added. Related: Binance Joins Indian Tech Association That Helped Overturn Crypto Banking Ban IAMAI says it intends to work with regulators and policy-makers to build a sustainable policy framework for cryptocurrencies in India. However, the announcement comes just days after rumors that India might be considering a new ban on crypto operations . Story continues Read more: Indias Rumored Crypto Ban May Be Overblown, Say Industry Pros Binance is honored and excited to join IAMAI and contribute our part in shaping the Indian blockchain industry for sustainable growth and development, said Binance CEO Changpeng CZ Zhao. We hope to further accelerate the progress of blockchain adoption in India and are committed to working with IAMAI on an innovation-led and progressive framework for digital assets and blockchain. Binance has been busy of late, announcing the launch of its services in the U.K. on Wednesday. Binances U.K. exchange is expected to go live this summer. Last November, Binance acquired Indian crypto exchange WazirX . Related Stories What the Stock Markets Robinhood Rally Means for Bitcoin Brave Browsers Affiliate Link Controversy, Explained || Bitcoin App Bottlepay Is Back From the Dead With a New Lightning App: The social payments app Bottlepay (née Bottle Pay) aims to relaunch in the next few weeks, after shuttering due to regulations in December 2019 . After restructuring the bitcoin wallet product to fit Europes anti-money laundering directive ( AMLD5 ), the British startup is offering an exchange wallet with social features on Reddit, Twitter and Discord . Bottlepay co-founder Pete Cheyne said there are over 1,000 people on the waitlist for the closed beta relaunch in August. Because were moving to an app-native product theres a lot more we can do, Cheyne said. Were also adding in the ability to have scheduled payments to buy more bitcoin. Related: Drop in Bitcoin 'Whale' Addresses Suggests Market May Be Decentralizing Read more: Bitcoin App Bottle Pay Shuts Down Over Impending EU Money-Laundering Laws Squares Cash App and others already offer this feature in the United States, but in Europe, where Bottlepay is focused, theres even an added feature that forwards the bitcoin to another wallet address if desired. This means users may choose custodial or non-custodial services. Lightning works in the background, without users having to manage channels, Cheyne added. There will be a small fee for exchanging between fiat and bitcoin, and vice versa.
There will also be tiers because people are interested in our app for different use cases. Bottlepay CEO Mark Webster said his team of 11 employees has constant funding from their angel investors, who previously traded equity for $2 million in 2019. Webster added the company wont support tokens in the near future, although it might someday. This year it is all about bitcoin. Related: Bitcoin Mining Difficulty Sets New Record High 2 Months After Halving I think Lightning is at the core of the strategy, Webster said, referring to the bitcoin scaling solution . As consumer demand increases we can open more channels. Story continues Read more: WikiLeaks Shop Now Accepts Bitcoin Lightning Payments As part of this shift, Webster said he is hiring, not tightening his belt for the recession, hoping to grow the team to roughly 35 people by 2021. Cheyne said several of the hires so far have been for the marketing and legal teams, which did a vast restructuring of the product. The added hassle of know-your-customer requirements also created an opportunity for wallet features. You can store a fiat balance, Cheyne said. Scan a Lightning code and pay that from your pound or euro balance. For now, Bottlepay will only open the beta program to users in Europe. But Webster said the company hopes to open the beta to Americans and reactivate Telegram options by 2021. When it does, it may be one of the few fiat-friendly wallets that leverages Lightning without any hassle for the user. In some ways, this is comparable to the American Lightning-powered consumer app Strike . This time away has been valuable for the company to refine our strategy, Webster said. Were still extremely focused on Lightning. Related Stories Bitcoin App Bottlepay Is Back From the Dead With a New Lightning App Bitcoin App Bottlepay Is Back From the Dead With a New Lightning App || Latest Bitcoin Cash price and analysis (BCH to USD): Bitcoin Cash has presented a notable bearish scenario as it moves into the typically low volume weekend of price action, with it languishing down around the $230 level of support. The world’s fifth largest cryptocurrency, which famously spawned out of a Bitcoin hard fork in December 2017, has remained stable in terms of price over the past three months. The daily 200 moving average remains a key hurdle for Bitcoin Cash in the short and medium term, with it causing four succinct rejections since the first test on April 8. Until it can break above the 200MA the overall picture remains bearish with an eventual slide to the $204 level of support seeming likely over the coming months. Much of the upcoming price action will depend on Bitcoin and whether it breaks out above $10,500 or breaks below $9,000. A bullish break, coupled with the recent halving event, would bode well for the entire cryptocurrency market as profits typically flow from Bitcoin into more speculative bets like altcoins. However, a break down in price would cause an adverse move in the value of altcoins, as traders need to move back into Bitcoin in order to liquidate back into fiat currency. As noted in Coin Rivet’s daily analysis yesterday, the potential impact of a covid-19 second spike remains the largest threat to global capital markets due to its unpredictable nature. 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 . || Bitcoin News Roundup for June 5, 2020: Malta-based cryptocurrency exchange OKEx rolled out option contracts on Ethereum’s ether (ETH) token on Thursday, ending the Panama-based Deribit’s virtual monopoly in the space.
“OKEx ETH Options Contracts will be settled in ETH. Each contract’s face value of ETH/USD options is 1 ETH,” Jay Hao, CEO of OKEx, told CoinDesk.
Options are derivative contracts, which give the buyer the right, but not obligation to buy or sell the underlying asset at a predetermined price on or before a specific date. While a call option represents a right to buy, a put option gives the holder the right to sell.
The mark prices of exchange’s optionsare determined bythe Black-Scholes model on a real-time basis, and the final settlement price will be generated via a time-weighted average of the underlying price over a period of time ahead of expiry.
To avoid what OKEx calls a “societal clawback”, the exchange has already established an ETH/USD options insurance fund of 1,000 ETH, worth about $240,000 as of Friday. Clawbacks occur when the exchange’s insurance fund lacks sufficient reserves to cover investors’ total margin call losses. Exchanges face such shortages and socialize losses by clawing back a portion of the gains of profitable traders when the market unexpectedly sees a big bullish or bearish move, leading to forced unwinding of long/short positions.
“Options would give traders more versatility and a great way to hedge their risk,” said Hao. Ether’s fortunes are closely tied with the use of Ethereum in decentralized applications (dApps). Hence, one may argue ether options are hedging instruments for dApps.
Investor interest in the crypto derivatives market has exploded this year, with open interest in ether futures listed on major exchanges rising by 100%. Meanwhile, open interest in ether options listed on Deribit has skyrocketed by over 900%, according to the data provided by the crypto derivatives research firmSkew.
Related:Crypto Derivatives Exchange OKEx Launches Options on Ether
As of Thursday, OKEx was the largest ether futures exchange by open interest, accounting for 26% ($179 million) of the global tally of $672 million. Further, the exchange recentlysurpassed BitMEXto become the largest bitcoin (BTC) futures exchange by open interest.
“Adding ETH options is a logical next step for us, and also a market demand particularly as we pride ourselves on the wide variety of products and features that we offer traders, allowing them to keep their pricing strategies more flexible,” said Hao.
While OKEx dominates the futures product, the options segment is ruled by Deribit exchange. As of Thursday, Deribit accounted for more than 75% of the total open interest of $1.3 billion in BTC options and contributed almost the entire open interest of $144.35 million in ether options. Meanwhile, OKEx contributed only 4% of the total open interest in BTC options.
OKEx, therefore, has plenty of ground to cover before threatening Deribit’s number one position in the options market. The exchange has traded $1 million worth of ether option contracts since inception and has $342,000 worth of open positions at press time.
OKExplans to launchoptions on EOS, the ninth largest cryptocurrency by trading volume, on June 18.
• Crypto Derivative Volumes Hit Record $602B in May: Report
• ‘Careless’ Users Are Ruining Ethereum’s Privacy: Paper || Bitcoin Up 27% in First Half of 2020, Beating Gold, Silver and Platinum: Bitcoinshowed its luster during the first half of 2020 by rallying more than 27% percent amid mediocre returns from precious metals including gold, silver and platinum.
Gold underperformed bitcoin by nearly 11 percentage points despite gaining 16 percent in the first half of 2020 and making eight-year highs in late June. Silver and platinum both finished the first half of 2020 with negative gains.
Bitcoin’s strong performance is no shock to some analysts, especially in context of the benchmark cryptocurrency’sincreasing correlationwith equity markets. “Given that equities are now near, or in some cases above, their highs reached in February, it’s not surprising to see bitcoin do the same,” said Ryan Watkins, bitcoin analyst at Messari.
Related:Crypto Exchanges See Big Drop in Volumes as Bitcoin Volatility Approaches 2020 Low
Why compare returns from bitcoin to gold or other precious metals? “Gold is bitcoin’s most aspirational asset,” explained Watkins. “Like bitcoin, gold is a scarce commodity whose value is derived almost entirely from its monetary premium.”
Unlike gold, however, bitcoin investors have historically experienced more extreme volatility. Silver and platinum were also much more volatile than gold through the first half of 2020.
Bitcoin and gold could be seen more like complementary investments than competitives ones based on their performance over the past six months, said David Lifchitz, managing partner at Paris-based quantitative cryptocurrency trading firm ExoAlpha. Given bitcoin’s historic volatility, holding “digital and physical gold together” could provide a better risk-return profile than holding either of them individually, said Lifchitz.
See also:Bitcoin Sees Small Gain as Gold Rallies to One-Month High
Related:Market Wrap: As Stocks Rally, Bitcoin Trades Above $9.3K for the First Time in 10 Days
Investors typically adjust their portfolios based on the amount of risk required to achieve a certain return. Increased returns often bring with it higher volatility or risk. Depending on how assets correlate, though, a properly weighted portfolio can achieve a higher expected return with a lower level of risk than would be found in a portfolio containing just one asset.
Investing in bitcoin and the less-volatile gold during the first half of 2020 could have reduced an investor’s risk without sacrificing returns, Lifchitz told CoinDesk. Equal investments in gold and bitcoin, for example, could have more or less matched returns from an investment only in bitcoin while suffering less of a drawdown in March, Lifchitz explained.
But risk-adjusted returns from bitcoin and gold over the last six months “may not hold true going forward,” said Lifchitz. For one thing, the cryptocurrency market has grown eerily quiet over the past few weeks asbitcoin’s volatility has plummeted.
A Bloomberg Julyreporton bitcoin noted bitcoin’s 260-day volatility is “at the lowest versus the same gold-risk measure since the crypto asset’s parabolic 2017 rally.” Senior commodity strategist Mike McGlone, who authored the report, said, “Volatility should continue declining as bitcoin extends its transition to the crypto equivalent of gold from a highly speculative asset.”
See also:Crypto Long & Short: Is Bitcoin More Like Gold or Equities?
Bitcoin’s dropping volatility to historic lows could quickly change directions, however. McGlone described bitcoin as a “resting bull” ready for a breakout, adding, “We expect recent compression to be resolved via higher prices.”
• Bitcoin Up 27% in First Half of 2020, Beating Gold, Silver and Platinum
• Bitcoin Up 27% in First Half of 2020, Beating Gold, Silver and Platinum || Bitcoin makes up over 90% of payments processed by BitPay: Bitcoin continues to be the dominant payment method for BitPay, according to new payment statistics released by the firm. Since November 2019, bitcoin has maintained a 90% market share of all payments processed, by payment count, through BitPay's platform. The closest competing asset is bitcoin cash, which maintained a market share of between 3-5%. Additional data revealed that from January to April, BitPay processed approximately 390,000 transactions, averaging roughly 98,000 per month. BitPay is a significant player in the cryptocurrency payments processing space. According to its co-founder and CEO, in 2019, the firm facilitated $1 billion worth of cryptocurrency transactions. © 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. || CME Bitcoin Options Flatline After Record Growth in June: Bitcoin options trading on CME has flatlined after the exchange experienced massive growth and a record-breaking expiry last month. CMEs bitcoin options open interest has grown barely 10% in July to $167 million at last check. Less than 0.2% of Fridays aggregate bitcoin options trading occurred on CME, according to Skew . Open interest on Deribit, which represented 93% of Fridays bitcoin options trading volume, has grown roughly 30% in July to $1.1 billion, down from $1.3 billion before the June expiry. CME bitcoin options market grew 10x within a 30-day period between May and June on the heels of record-breaking growth in its bitcoin futures market. Bitcoin is the only cryptocurrency traded on CME Group, and the exchange currently has no plans to launch additional cryptocurrency markets. Related Stories CME Bitcoin Options Flatline After Record Growth in June CME Bitcoin Options Flatline After Record Growth in June CME Bitcoin Options Flatline After Record Growth in June CME Bitcoin Options Flatline After Record Growth in June || Meet the Pro-Bitcoin, Anti-BitLicense Democrat Running for State Office: In a now-deleted tweet, Coinbase Custody International announced it was adding support for withdrawals and deposits in the stablecoin tether.
While that May 30 tweet is now gone, it’s hard to hide its effects given a recent surge in the stablecoin’s count of active addresses. The number of unique addresses active in the network, either as a sender or receiver, nearly doubled to 203,776 last week, having risen by 26% in May, according to data provided by the blockchain analytics firmGlassnode. However, as of Tuesday, the number of active addresses was back down sharply to 122,809.
Coinbase Custody’soriginal tweetwasshared onthe cryptocurrency exchange Bitfinex’s social platform and also acknowledgedby Paolo Ardoino, chief technology officer at Bitfinex and Tether Ltd (creator of tether).
It is unclear when the tweet was removed. Also, there isno mention of USDTin the list of supported assets on its official website. CoinDesk reached out to Coinbase Custody on Tuesday for information on whether it are supporting tether. As of press time, we have yet to receive any reply.
While that mystery remains, the on-chain data shows the original announcement was followed by a spike in the number of active addresses.
“Coinbase Custody International’s announcement may have contributed to the recent jump in addresses,” said Wilson Withiam, research analyst at data provider Messari.
The custodian mainly serves wealthy institutional investors, such as family offices and trading firms. As such, one may conclude that its decision to add support for tether is reflective of the increased institutional interest in the stablecoin.
Related:Coinbase Custody Deleted Tweet That Could Explain Surge in Tether Addresses
See also:As Tether Supply Hits Record Highs, It Moves Away From Original Home
Demand for tether and other dollar-backed stablecoinshas been on the risethis year in the wake of the U.S. dollar shortage in the global economy and extremely low interest rates in fiat markets as a result of the coronavirus pandemic. While commercial banks across the advanced world are offering near zero interest rates on deposits, cryptocurrencylending platformsincluding Nexo and Celsius Network are paying 8% interest rate on tether deposits.
Hence, it’s no surprise the number of active addresses has risen by over 600% so far this year. Meanwhile, Tether Ltd., the company behind the stablecoin,has issuedover $5 billion worth of tether since January and its market capitalization has increased from $4 billion to $9.3 billion, according to Glassnode.
• Stablecoins Are the Bridge From Central Banks to Consumer Payments
• Market Wrap: Bitcoin Can’t Stick to $9,000 While Stocks Rally
[Random Sample of Social Media Buzz (last 60 days)]
None available.
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Trend: up || Prices: 9536.89, 9677.11, 9905.17, 10990.87, 10912.82, 11100.47, 11111.21, 11323.47, 11759.59, 11053.61
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
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[Technical Analysis for 2021-12-14]
BTC Price: 46612.63, BTC RSI: 33.12
Gold Price: 1770.40, Gold RSI: 41.89
Oil Price: 70.73, Oil RSI: 42.55
[Random Sample of News (last 60 days)]
Oil Price Fundamental Daily Forecast – Buyers Pull Bids, Shorts Return Amid New Omicron Fears: U.S. West Texas Intermediate and international-benchmark Brent crude oil futures are inching lower on Thursday after giving back earlier gains. The price action reflects uncertainty over the impact of the Omicron coronavirus variant on global economic growth. At 10:51 GMT, January WTI crude oil is trading $72.15, down $0.21 or -0.29% and February Brent crude oil is at $75.47, down $0.35 or -0.46%. On Wednesday, the United States Oil Fund (USO) ETF settled at $52.44, up $0.85 or +1.65%. According to reports, some analysts feel the markets have been overcooked to the downside with oil-demand concerns being fueled by negative headlines. Those came out on December 1. Since then, most of the headlines have been more optimistic, leading to this week’s strong short-covering rally. Prices have retraced between 50% – 61.8% of their sell-off, which is a normal correction. This suggests the buying and selling has become balanced. But we know that won’t last long. Since Omicron news has driven the market both down and up, we see no reason for this to change over the near-term. As long as the Omicron headlines remain balanced, prices are likely to remain balanced or rangebound. New Omicron Headlines Weighing on Prices When the news of the Omicron coronavirus variant hit the markets, prices fell sharply as traders conjured up images of renewed demand destruction and slower economic growth. Most countries limited travel, while other considered new restrictions. Prices began to rebound when South African scientists said the symptoms of Omicron were “mild”. Similar comments by U.S. medical expert Dr. Fauci over the weekend helped extend the rally. The markets started to stabilize when Pfizer-BioNTech officials offered a mixed assessment, saying two shots of its vaccine may protect only partially against Omicron, but a third dose may improve that protection. Then on Wednesday, Pfizer CEO Albert Bourla said that people might need a fourth COVID-19 shot sooner than expected because of the omicron variant. Story continues Also on Wednesday, the World Health Organization (WHO) said the highly mutated omicron variant of COVID-19 could “change the course of the pandemic.” Meanwhile, the rise of omicron COVID cases in the U.K. is on such steep trajectory that the country has been told to brace for one million cases by the end of the month. “If the growth rate and doubling time continue at the rate we have seen in the last 2 weeks, we expect to see at least 50% of coronavirus cases to be caused by omicron variant in the next 2 to 4 weeks,” the UK Health Security Agency said in a statement. Short-Term Outlook The news, or at least the uncertainty over the impact of Omicron seems to have taken a turn to the negative side. This may be enough to stop the short-covering rally, but perhaps not enough to drive it back to last week’s multi-month lows. With the WHO still saying the exact impact of Omicron is “still difficult to know” and scientists across the world scrambling to determine just how contagious and lethal the mutated virus has become, I expect crude oil traders to remain cautious until they find out what to expect. 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 Gold/Silver Ratio Moves Above 80 Bitcoin Miners are Using Environmentally-Friendly Power Sources Costco Fully Valued Ahead of Earnings US Congressman Says Crypto Represents the Rich and not the Poor Stocks Retreat Despite Encouraging Initial Jobless Claims Report Why GameStop Stock Is Down By 7% Today || Indians Could be Jailed for Bitcoin Transactions: In a move likely to bring a total end to crypto trading in the country, Indian authorities have proposed a law that will ensure strict punishment for those who don’t comply with its proposed cryptocurrency regulations.
This proposal includes arrest without a warrant and jail time without the option of bail.Reutersreported that the new rules which seek to ban the use of crypto as a payment instrument in India include these punishments as part of the effort to enforce it.
The government has previously stated that it plans to ban crypto assets, similar to what China did recently. The bill intends to ban all activities related to crypto, including mining, hodling, selling, or dealing in digital currency as a medium of exchange, a unit of account, and store of value.
This bill contradicts a previous statement of the government where it claims that it intends to promote blockchain technology. With this bill, the cryptocurrency sector and the growing non-fungible sector in the country will be significantly affected.
The plans to ban cryptocurrency trading have led many investors to sell their digital assets despite the losses. According to a crypto investor, Naimish Sanghvi, Tether (USDT)lost about 25% of its value as it fell to 60 rupees ($0.8061) after news of the ban.
The high sales volume also affected many exchanges that were having problems with deposits and withdrawals. According to one of the largest trading platforms in the country,WazirX, it had to resolve issues delays experienced by users on its platform.
India has one of the largest crypto investors in the world, with about 15 – 20 million residents holding around 450 billion rupees ($6 billion) in crypto assets. With this ban, the government will also crackdown on advertisements encouraging people to invest in crypto. There’s also the likelihood of banning self-custodial wallets.
The move to ban crypto comes after the central bank expressed concerns about the risks of digital currencies. The central bank is also working to prevent registered financial institutions from getting involved in crypto. It remains to be seen what effect the ban will have on the cryptocurrency sector in India and the whole world.
Thisarticlewas originally posted on FX Empire
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• Arista Networks Is A Big Money Favorite || Market Wrap: Bitcoin Stabilizes as Traders Prepare for Taproot Upgrade: Bitcoin (BTC) is stabilizing after yesterday’s pullback from an all-time high near $68,950. Analysts continue to expect further upside for cryptocurrencies despite short-term price swings. “Volatile price moves are always around the corner,” Nicholas Cawley, an analyst at DailyFX , wrote in an email to CoinDesk. “Longer-term traders in BTC and [ether] ETH may use this recent sell-off to build their positions as sentiment going forward remains positive,” Cawley wrote. Other analysts pointed to the upcoming Bitcoin blockchain Taproot upgrade as a bullish event for BTC’s price. “The Taproot upgrade will likely be activated by the end of this week or early next week,” crypto trading firm QCP Capital wrote in a Telegram announcement. “This is the largest upgrade since SegWit in 2017 and will improve a whole string of key functions,” QCP wrote. The firm is holding onto long BTC positions into the network upgrade event. Latest prices Bitcoin (BTC): $65,845, -1.66% Ether (ETH): $4,737, +2.07% S&P 500: $4,649, +0.05% Gold: $1,863, +0.77% 10-year Treasury yield closed at 1.57% Meanwhile, at Coinbase , the exchange’s trading desk continues to have higher volumes. “Although this behavior is quite common each time we approach [cryptocurrency] record highs, the current rally feels less mania driven and more supported by fundamentals, such as the Taproot upgrade, and genuine demand from investors,” the exchange wrote in a newsletter to institutional clients this week. SHIB continues to dominate Coinbase exchange volume market share at 18.16%, while ETH and BTC are at 12.7% and 10.85%, respectively. Bitcoin long liquidations Approximately $64 million of long BTC positions were liquidated within two hours of bitcoin’s all-time price high near $69,000 on Wednesday, according to data compiled by Glassnode . As traders began to take some profits, BTC’s price dropped toward the $63,000 price level. The sell-off appeared to be fueled by a reduction in leveraged positions. Story continues Bitcoin long liquidations (Glassnode) Ether bullish option activity Options traders are overwhelmingly bullish on ether after the cryptocurrency reached an all-time price high around $4,800 on Wednesday. The chart below shows the largest amount of open interest at the $5,000 ETH strike price, followed by $10,000 and $15,000. Some analysts maintain high price targets for ether this year. “We continue to expect ETH to outperform and to reach our price target of $10,500,” FundStrat, a global advisory firm, wrote in a newsletter this week. Open interest is the total amount of outstanding contracts that have not been settled. Call options provide the holder with the right to buy the underlying asset at a predetermined price until a defined expiration date. Currently, ETH call options significantly outweigh put options (a bearish position providing the right to sell) across higher expiries. Ether open interest (Skew) Altcoin roundup More firms embrace the metaverse: A report by Morgan Stanley described the metaverse as a “virtual world for immersive co-experiences that is persistently available and where users can explore vast numbers of experiences concurrently.” It is a medium through which we socialize with others, and/or speculate on digital assets such as non-fungible tokens (NFT). Smart contract platform Agoric launches Public Chain: Agoric hopes to attract JavaScript developers to decentralized finance (DeFi) apps with a development environment providing reusable governance, lending and trading components, CoinDesk’s Brandy Betz reported . The private token sale had participation from early investors including MetaStable, Polychain, Rockaway and Gumi Ventures. Decentralized search engine Presearch integrates with NFT marketplace OpenSea: Presearch aspires to be a kind of “Google ... for the Web 3 era of decentralization, CoinDesk’s Jamie Crawley reported . The company’s aim for the integration with the world’s largest NFT marketplace is to streamline the way in which users can search for NFTs. Sotheby’s to allow live bidding in ether for works by Banksy: Auctioneer Oliver Barker will be fielding real-time bids for the famed street artist’s “Trolley Hunters” and “Love Is In The Air.” The upcoming virtual exhibition on Nov. 18 will be held at Sotheby’s “headquarters” in Decentraland, CoinDesk’s Tanzeel Akhtar reported . Relevant news Bitwise Withdraws Bitcoin Futures ETF Filing, Citing Cost, Complexity Miami to Give ‘Bitcoin Yield’ From MiamiCoin to Its Citizens Indonesia’s Religious Leaders Declare Crypto Illegal for Muslims FTX US Trading Volumes Soared 512% During Q3 Other markets Most digital assets in the CoinDesk 20 ended the day lower. Notable winners as of 21:00 UTC (4:00 p.m. ET): The Graph (GRT), +2.48% Polygon (MATIC), +1.72% Polkadot (DOT), +1.54% Notable losers: Algorand (ALGO), -4.85% Litecoin (LTC), -4.27% Filecoin (FIL), -3.11% || 7 Cryptos to Put on Your Radar as the Bullishness Only Intensifies: Dont look down! Thats the common motivational cry that folks will yell when youre literally headed toward a vertical milestone. But of course, its inevitable that we all look down its only a natural reaction . This is a similar circumstance to whats going on with cryptocurrencies right now. True, its fun being a bull. But one cant help feeling that cryptos may well be overstretched. Sure, no one wants to hear the cries of a Negative Nancy during a bull market. However, I think it pays to take a breather every now and then. For instance, while cryptos have been on a meteoric rise, no investment can climb indefinitely. Corrections happen and with digital assets, they tend to be severe. There are also legitimate concerns that cryptos may incur downside at some point in the near future. For example, fellow InvestorPlace contributor Robert Lakin tuned me into a piece in IR Magazine which noted that some investors may not fully realize the stakes: InvestorPlace - Stock Market News, Stock Advice & Trading Tips Retail investment has boomed over the last 18 months, with millions of new brokerage accounts opened and investment ideas becoming a popular topic of conversation on social media networks like Instagram and Reddit. But regulators are worried that new investors may not understand the risks they are facing. Notably, a majority of respondents conducted by the U.K.s Financial Conduct Authority (FCA) revealed that the majority of respondents who invest in forex (57 percent) and cryptocurrency (69 percent) incorrectly think these products are regulated by the FCA. Further, the driving force behind cryptos and other speculative bets may stem from competition among friends and family. It wouldnt be a stretch to assume at least some of this sentiment applies to U.S. investors as well. Over the last few weeks, Ive noticed some crypto proponents becoming irritated with bears . But dont let peer pressure and FOMO (fear of missing out) lead you into bad decisions. Instead, always exercise caution. Because what goes up can and will come down. Story continues 7 Best Tech Stocks to Buy for Q4 Earnings Season Here are seven cryptos to watch moving forward: Bitcoin (CCC: BTC-USD ) Ethereum (CCC: ETH-USD ) Binance Coin (CCC: BNB-USD ) Cardano (CCC: ADA-USD ) Dogecoin (CCC: DOGE-USD ) Uniswap (CCC: UNI-USD ) Shiboki (CCC: SHIBOKI-USD ) Cryptos to Watch: Bitcoin (BTC) man in glasses holding a coin that has the Bitcoin (BTC-USD) logo Source: Shutterstock When it comes to Bitcoin the benchmark of all cryptos there are currently two main schools of thought. First, since BTC retook $60,000, it has impressively maintained that level aside from some minor blips. So, you could say that the bulls are building a baseline of support for what has been previously unthinkable: $100,000 per coin. On the other hand, though, I cant help but think that Bitcoin has jumped the shark , at least for the time being. I hardly watch football nowadays, so the news that Green Bay quarterback Aaron Rodgers has essentially become a Bitcoin spokesperson came out of left field. But Rodgers is not the only mainstream figure embracing BTC. Now that begs the question: has this mania gone too far? Make no mistake Im a supporter of BTC and cryptos in general. As Ive said over and over, Bitcoin has changed my life for the better. Still, Ive got to be objective. The enthusiasm here has gone over the top. That doesnt make for a comfortable proposition. Ethereum (ETH) A coin with the Ethreum logo on top of a financial document Source: shutterstock For quite some time, all the attention was on Bitcoin and its dramatic rise. However, Ethereum the number-two cryptocurrency by market capitalization wasnt too far behind. ETH lingered below the $4,000 level until mid-October, when it likewise set a new high. Is this a turning point for the major cryptos? Its possible. But the problem I see moving forward are the institutional players that have moved into this sector. Initially, their presence was welcome they lifted other cryptos to incredible heights. However, unlike your traditional supporter of digital assets, you shouldnt expect institutional investors to HODL or hang on for dear life. Instead, mainstream funds answer to their stakeholders. Should Ethereum and other cryptos get squirrely due to their possible bubbly nature, institutional investors wouldnt think twice about dumping and securing their profits in gasp! fiat currency. 7 A-Rated Healthcare Stocks to Buy for the Long Haul In other words, its very possible that the decentralized market could incur a boomerang effect. Im not guaranteeing this will happen, but really anything can happen in this sector. Cryptos to Watch: Binance Coin (BNB) Binance (BNB-USD) logo displayed on a pile of altcoins Source: Robert Paternoster / Shutterstock.com One of the biggest success stories in cryptos is BNB. At its inception in 2017, Binance Coin was trading hands for about a dime a pop. If you want to talk about life regrets, not getting involved with BNB is a big one of mine. But now the fear of missing out a second time has people jumping on BNB today, even at price tag of around $550. Certainly, Binance Coin has strong marketing appeal. Tied to its namesake cryptocurrency exchange, its one of the biggest in the world based on daily trading volume. According to CoinMarketCap, the idea behind Binances name is to show this new paradigm in global finance Binary Finance, or Binance. Its a great story. And with Bitcoin up in the high five digits, the theory is now that BNB could likewise be undervalued against a longer-term framework. Of course, Im not going to debate the issue. However, the extreme enthusiasm for BNB worries me because cryptos have never been anything but cyclical. Talk to me about binary finance all you want. Unless blockchain-based applications become universally appealing , its hard to be comfortable with this names rich premium. Cardano (ADA) Cardano (ADA) token with blue and orange digital background. Source: Stanslavs / Shutterstock If theres a canary in the coal mine regarding cryptos, it could be Cardano. Once the worlds third-largest digital asset by market cap , BNB has since displaced it. Currently, ADA holds fifth place and even thats not guaranteed with Solana (CCC: SOL-USD ) right on Cardanos tail as of this writing. Still, relative underperformance is just one piece of the cautionary tale here. The other side of the story? This underlying blockchain project is groundbreaking, essentially delivering the first proof-of-stake (PoS) protocol. In short, PoS blockchains reward miners with a greater stake in the network a higher probability of accruing financial resources. Today, PoS protocols are all the rage because of their minimal environmental impact relative to energy-intensive proof-of-work (PoW). However, that hasnt helped ADA-USD, which remains curiously underwhelming compared to other high-flying cryptocurrencies. 7 Retail Stocks to Buy Regardless of Supply Shortages Yes, ADA popped higher recently but that only brought its price to previously established thresholds. If Cardano cant convincingly move the needle going forward, you might want to check up on other digital assets instead. Cryptos to Watch: Dogecoin (DOGE) A gold Dogecoin (DOGE) token stands upright with several BTC tokens laying flat. Source: Shutterstock Everyones favorite meme, Dogecoin has arguably enjoyed the most interesting ride among cryptos. Initially developed as a joke, DOGE took on a life of its own this past year. The cryptocurrency gained mainstream notoriety (or infamy), with proponents like Tesla (NASDAQ: TSLA ) CEO Elon Musk even mentioning the crypto on Saturday Night Live . As the Los Angeles Times pointed out, Musks shoutout didnt go so well for DOGE. But then again, theres a lesson here for all cryptos. As I mentioned before, it seems like Bitcoin and company have jumped the shark. We now live in a world where professional athletes even want part of their salaries paid in crypto. At its peak, Dogecoin surpassed the 70-cent mark. But sometimes, when expectations are too high, thats exactly the time to go contrarian. Now, thats not a cue to short cryptos. Surely, the market can stay irrational longer than you can stay solvent. However, its worth recognizing the two-sided nature of human emotions they can create incredible bull markets and spark devastating bear ones. Uniswap (UNI) A concept image for the Uniswap (UNI) token. Source: Shutterstock Despite my recent hesitancy toward cryptos or more precisely, the rabid speculation toward digital assets Ive always been fascinated with the concept of decentralized finance (DeFi). After all, Im a beneficiary of multiple DeFi protocols, allowing me to collect interest on some of the cryptos I still own. That said, whats really neat is if youre willing to take some serious risks you can also accrue interest on stablecoins . These are digital assets pegged to the U.S. dollar, for instance. So long as the institutions backing those stablecoins dont crumble (which of course is no guarantee), you can earn massive monthly interest payouts. This brings me to Uniswap, which takes the DeFi step even further through facilitating automated market-maker services. Basically, blockchain technology is such that you can eliminate middlemen entities like market makers, instead replacing them with a decentralized distributed protocol so that anyone can participate and earn rewards. However, the basic problem here is that market making on cryptos is an undertested concept particularly because so many digital assets are liable to implode. Further, Uniswap hasnt been impressive during the meteoric run of BTC. 7 Top Stocks to Buy On Any Dip If You Get the Chance in Q4 Still, that could change with one big catalyst. So, if you like living dangerously, UNI might be intriguing enough for you. Just dont forget that its a huge gamble. Cryptos to Watch: Shiboki (SHIBOKI) A close-up shot of a Shiba Inu with a grinning face. Source: Wollertz / Shutterstock As major cryptos like Bitcoin and Ethereum swing higher to remarkable valuations, you should consider the mathematical implications of risk-reward profiles. For example, lets say you have $62,000 burning a hole in your pocket. You could invest all of that into one Bitcoin and hope it hits $100,000. That would profit you $38,000 not bad for a single trade. However, you could also wager a much smaller amount of that $62,000 pot into a highly speculative crypto. And under a euphoric bull market, you could profit handsomely on a percentage basis. You could even potentially match the $38,000 profit mentioned above. With that, Im going to finish this list of cryptos off with Shiboki. Full disclosure: I had never heard of Shiboki until I did research for this article. Per CoinMarketCap , though, the crypto brands itself as a mixed breed dog [
] on a mission to prove to his parents Shiba & Floki that he will carry on with their legacies and that his name is destined for greatness as well. What the heck? As I said, cryptos have probably jumped the shark. But if you want to milk this sector for what its worth, Shiboki is a smaller name that will certainly take your calls. FREE REPORT: 13 Cryptos Ready to Rocket Like Dogecoin Ready to start trading cryptocurrency but unsure of what to buy? Thomas Yeung found Dogecoin before it went up 8,000%
Cardano before it went up 460%
and Ripple before it went up 480%. Now, in a new report, hes naming 13 of his favorite cryptocurrencies tokens that could soar as high as DOGE. Claim your FREE COPY here. On Low-Capitalization and Low-Volume Cryptocurrencies: InvestorPlace does not regularly publish commentary about cryptocurrencies that have a market capitalization less than $100 million or trade with volume less than $100,000 each day. Thats because these penny cryptos are frequently the playground for scam artists and market manipulators. When we do publish commentary on a low-volume crypto that may be affected by our commentary, we ask that InvestorPlace.com s writers disclose this fact and warn readers of the risks. Read More: How to Avoid Popular Cryptocurrency Scams On the date of publication, Josh Enomoto held a long position in BTC, ETH, ADA, DOGE and UNI. 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 Analyst Who Found Microsoft at $0.38 Names #1 Pick for the AI Boom Americas #1 EV Stock Still Flying Under the Radar The post 7 Cryptos to Put on Your Radar as the Bullishness Only Intensifies appeared first on InvestorPlace . || SmallCapsDaily: Mawson Infrastructure Emerges as a Carbon Neutral Cryptocurrency Leader: New York, New York--(Newsfile Corp. - November 18, 2021) - Mawson Infrastructure Group Inc. (NASDAQ: MIGI) ("Mawson"), a digital infrastructure provider, was recently the subject of an article by leading financial news website and publisher SmallCapsDaily. The coverage is an in-depth overview of Mawson Infrastructure's progress and advancement within the burgeoning cryptocurrency mining industry. An increasingly important sector, as cryptocurrencies become more widely adopted and accepted, cryptocurrency mining is set to become a $21 billion industry by 2027. Mawson is distinctly positioned to leverage the imminent growth in the cryptocurrency mining industry and SmallCapsDaily's reporting illustrates this.
Mawson operates out of multiple locations, which contain modular data centers with specially designed high-performance computing capabilities. Due to the modular capabilities, Mawson is able to scale on demand as the value of digital assets increase, while simultaneously keeping operations 100% carbon neutral. Mawson has two site facilities in the United States and recently brought their first Australia facility online in October 2021. Based on recent expansion and the success of their "infrastructure first" strategy for the deployment and scaling of new and current facilities, Mawson is quickly becoming a major force within the cryptocurrency world.
For more detailed information, please read our coverage found here:https://smallcapsdaily.com/mawson-infrastructure-group-the-carbon-neutral-cryptocurrency-mining-company-set-to-dominate-the-market/
Key Takeaways
• Mawson has 2 operating facilities in the U.S. and is managing a total peta-hash capacity of 400PH, mining 3 BTC/day. The company's goal is to increase their hash rate to 5000PH (equating to roughly 39 BTC today depending on price), while keeping operations 100% carbon neutral.
• Mawson recently brought their first Australian facility online at the end of October and announced it will be powered by 100% renewable energy sources by partnering with Quinbrook Infrastructure Partners. To facilitate the expansion into their new Australian based facility and to increase the capacity of existing facilities, Mawson has purchased 4,000 new ASIC bitcoin miners.
• Mawson's third quarter saw revenue increase to $10.9 million, marking a 1,100% increase from last year's Q3. Gross profit increased to $8.4 million (compared to $44,000 in 2020) and virtually every other financial metric saw an improvement when compared to previous results.
• Mawson recently announced the purchase of an additional 17,352 bitcoin miners, which will in part be used to outfit their newly announced, brand new 100MW facility located in Pennsylvania.
About Mawson Infrastructure
Mawson Infrastructure is a digital infrastructure provider, headquartered in Sydney, Australia and operating across the USA and Australia. Mawson Infrastructure's mission is to build a bridge between the rapidly emerging digital asset industry and traditional capital markets, with a strong focus on shareholder returns. Mawson matches energy infrastructure with next-generation mobile data centre solutions, enabling the proliferation of blockchain technology.
For more information, visit:www.mawsoninc.com
Forward-looking StatementsSmallCapsDaily profiles are not a solicitation or recommendation to buy, sell or hold securities. SmallCapsDaily is a paid advertiser and is not offering securities for sale. Neither SmallCapsDaily nor its owners, operators, affiliates or anyone disseminating information on its behalf is registered as an Investment Advisor under any federal or state law and none of the information provided by SmallCapsDaily its owners, operators, affiliates or anyone disseminating information on its behalf should be construed as investment advice or investment recommendations. Small Caps Daily does not recommend that the securities profiled should be purchased, sold or held and is not liable for any investment decisions by its readers or subscribers. Information presented by Small Caps Daily may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions, or future events or performance, are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward-looking statements may be identified through the use of words such as "expects," "will," "anticipates," "estimates," "believes," "may," or by statements indicating that certain actions "may," "could," or "might" occur.
Contact:
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To view the source version of this press release, please visithttps://www.newsfilecorp.com/release/104165 || Bitcoin Should Not Be Legal Tender in El Salvador: IMF: The International Monetary Fund (IMF) said bitcoin should not be used as legal tender in El Salvador and urged the Central American country to strengthen the regulation and supervision of its newly established payment ecosystem. In a statement published on Monday, the IMF recommended that El Salvador narrow the scope of its Bitcoin Law and mentioned significant risks that bitcoin has for consumer protection, financial integrity and financial stability. The report corresponded with an official IMF visit to El Salvador conducted in accordance with Article 4 of its Constitutive Agreement, which annually overviews the fiscal, monetary and external situation of its members. The IMF said the announcement of a $1 billion bitcoin-backed bond made by President Nayib Bukele on Saturday was not discussed in joint meetings between government officials and the agency. Although the IMFs technical analysis did not include the bond announcement, the financial institution said El Salvadors plans to buy more bitcoin following the bond issuance, along with increasing its bitcoin exposure, will require a very careful analysis of implications for, and potential risks to, financial stability. According to the IMF, El Salvadors public debt could escalate beyond 95% of its GDP by 2026 if the country does not implement strong policy measures to correct fiscal imbalance and ease constraints on growth. The debt figure did not include the bitcoin bond recently announced, the IMF added. Among the measures to limit contingent fiscal liabilities, the IMF recommended El Salvador consider winding down the $150 million trust fund created to facilitate the exchange between bitcoin and U.S. dollars. It also recommended withdrawing public subsidies to Chivo Wallet, a digital wallet launched by the Salvadoran government on Sept. 7. Regarding the countrys new payments ecosystem, the IMF said El Salvador must immediately implement stronger regulation and oversight. Story continues It added that the Chivo Wallet should be required to safeguard funds in U.S. dollars and bitcoin by segregating and ring-fencing reserve assets. The banking regulation, for its part, should add prudential safeguards such as conservative capital and liquidity requirements related to bitcoin exposure, the IMF added. El Salvador also must analyze the reporting of bitcoin-related transactions to determine how the cryptocurrency affects the Salvadoran economy and to closely monitor risks, the IMF said. || First Mover Asia: Bitcoin Falls Below $49K as Trading Volume Weakens, Altcoins See Red: Good morning. Here’s what’s happening this morning:
Market moves:Bitcoin fell as U.S. stocks sagged and the U.S. dollar strengthened.
Technician’s take:Buying activity remains weak, which reduces the chance of a significant price rise into January.
Catch the latest episodesofCoinDesk TVfor insightful interviews with crypto industry leaders and analysis.
Bitcoin (BTC): $48,123 -4.7%
Ether (ETH): $4,183 -5.3%
S&P 500: $4,667 -0.7%
Dow Jones Industrial Average: $35,754 -0.0001%
Nasdaq: $15,517 -1.7%
Gold: $1,775 -0.4%
Bitcoin fell toward $48,000 on Thursday, sliding nearly 5% after hovering over $50,000 for much of the previous two days.
Trading volume of the No.1 cryptocurrency by market capitalization across major centralized exchanges, however, continued to drop.
The majority of the crypto market was also in red: Ether was down by more than 5% to around $4,000. The bearish market performance occurred as U.S. stocksfelland the dollar index (DXY), which tracks the greenback’s value against major fiat currencies, rose by 0.28%.
As CoinDesk reported, a strengthened U.S. dollarbrings downside pressureon bitcoin’s prices.
“The long-term bull case remains for bitcoin, but everything in the short-term seems bearish,” Edward Moya, senior market analyst at Oanda, said in an email. “Bitcoin will need to overcome growing expectations for a stronger dollar, an extended altcoin season and short-term bearishness for risk assets as Omicron derails reopening momentum.”
Bitcoin Drops Below $50K; Support Between $43K-$45K
Bitcoin (BTC) continued to struggle below the $50,000 resistance level.
The short-term downtrend over the past month remains in effect, which could limit further upside beyond $50,000-$60,000.
The cryptocurrency is down about 4% over the past 24 hours, although support around the 200-day moving average (currently at $46,500) could stabilize the current pullback.
BTC buying activity remains weak despite several oversold signals on the charts. That reduces the chance of a significant price increase heading into January, especially given the loss of upsidemomentumon the weekly and monthly charts.
3 p.m. HKT/SGT (7 a.m. UTC): U.K. trade balance (Oct.)
3 p.m. HKT/SGT (7 a.m. UTC): U.K. industrial production (Oct. YoY/MoM)
3 p.m. HKT/SGT (7 a.m. UTC): Germany consumer price index (Nov. YoY/MoM)
9:30 p.m. HKT/SGT (1:30 p.m. UTC): U.S. consumer price index (Nov. YoY/MoM)
In case you missed it, here are the most recent episodes of“First Mover”onCoinDesk TV:
Crypto CEOs Defend Industry as Congress Weighs Regulation, Terraform Labs Co-founder and CEO Do Kwon on Future Plans
“First Mover” hosts spoke with CoinDesk’s managing editor for global policy and regulation, Nikhilesh De, on the key takeaways from Wednesday’s hearing where House Financial Services Committee members questioned crypto executives. Terraform Labs co-founder and CEO Do Kwon was named ranked in the top 10 of CoinDesk’s Most Influential list this year. Kwon explained the plans for his company. Plus, “First Mover” covered market insights from Ava Labs President John Wu and the latest development from the Polygon network.
Bitcoin Hashrate Approaches Full Recovery From China Crackdown:Mining difficulty is likely to increase this weekend as capacity recovers, but given the recent record-high bitcoin prices, that won’t discourage miners.
Polygon Acquires Ethereum Scaling Startup Mir for $400M in MATIC:The Ethereum scaling network is undertaking another big-budget buy.
Meta’s WhatsApp to Trial Novi Digital Wallet: The move comes two months after Novi’s first pilot launched.
Crypto Derivative Firm Paradigm Raises $35M From Jump Capital, Alameda Ventures, Others:More than 25 investors participated in the round, including Dragonfly Capital, Digital Currency Group and Vectr Fintech Partners.
Pantone ‘Color of the Year’ Gets the NFT Treatment:Tezos nabbed Ubisoft yesterday, now Pantone. How will XTZ react?
Bitcoin’s Lost Coins Are Worth the Price:And the network’s core principles are invaluable.
The Three Types of Crypto Investors:Advisors should know the different types of clients they’ll encounter who might want to invest in crypto and understand their particular goals and needs.
CoinDesk Most Influential 2021:50 people who defined the year in crypto.
Most Influential 2021: Elon Musk:The impresario runs hot and cold on crypto, confusing fans and detractors alike. But his market influence is undeniable.
Addressing Clients’ Fear, Uncertainty and Doubt (FUD) About Bitcoin:Why three popular investor fears about bitcoin are overblown.
Today’s crypto explainer:What Is a Bitcoin Futures ETF?
Other voices:Why have prices of cryptocurrencies, such as bitcoin, fallen—again?(The Economist) || EUR/USD Daily Forecast – Euro Gains Ground Ahead Of Inflation Reports: Euro Moves Higher Against U.S. Dollar EUR/USD is trying to get above the resistance level at 1.1325 while the U.S. dollar is losing ground against a broad basket of currencies. The U.S. Dollar Index is currently testing the support level at 96. In case this test is successful, it will move towards the support level at 95.75 which will be bullish for EUR/USD. Yesterday, EU reported that Euro Area Consumer Confidence declined from -4.8 in October to -6.8 in November, in line with the analyst consensus. Euro Area Industrial Sentiment decreased from 14.2 in October to 14.1 in November compared to analyst consensus of 13.9. Interestingly, Euro Area Services Sentiment improved from 18 (revised from 18.2) in October to 18.4 in November while analysts expected that it would decline to 16.6. The strength of the Euro Area Services Sentiment is surprising given the recent developments on the coronavirus front. Today, foreign exchange market traders will focus on inflation data from EU. Analysts expect that Euro Area Inflation Rate increased by 0.1% month-over-month in November. On a year-over-year basis, Euro Area Inflation Rate is projected to grow by 4.5%. Euro Area Core Inflation Rate is expected to increase by 2.3% year-over-year. Technical Analysis EUR/USD is testing the resistance level at 1.1325. In case this test is successful, EUR/USD will move towards the next resistance level which is located at the 20 EMA at 1.1350. A move above the resistance at the 20 EMA will open the way to the test of the resistance at 1.1370. If EUR/USD manages to settle above 1.1370, it will head towards the next resistance level at 1.1400. On the support side, the nearest support level for EUR/USD is located at 1.1300. In case EUR/USD declines below the support at 1.1300, it will head towards the next support level which is located at 1.1270. A successful test of the support at 1.1270 will push EUR/USD towards the support at 1.1230. If EUR/USD settles below 1.1230, it will move towards the next support level at 1.1200. 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: The EUR, the Loonie. and the Dollar are in Focus, with FED Chair Powell also in the Spotlight Today Crude Oil Price Update – Trading on Weak Side of Retracement Zone Resistance at $69.58 – $72.30 Bitcoin Analysis, The Next Target Is $77K Litecoin Price Analysis: LTC Eyes Year-End Rally Ethereum Pulls Back As Global Sell-Off Continues Morgan Stanley Raises Ambarella’s Target Price to $222 Ahead of Q3 Earnings || Buy and Sell Bitcoin in Dubai Made Easier by Coinsfera: DUBAI, UAE / ACCESSWIRE / November 3, 2021 /Coinsfera's years of experience allow anybody to purchase and sell Bitcoin in Dubai. Coinsfera provides all-in-one service and legally recognized exchange in Dubai, United Arab Emirates.
Bitcoin a new way of investing money.
Cryptocurrency is represented by digital assets. Buyers utilize money to purchase assets (or a part of an asset). Buyers then swap the assets for products or services online tosell bitcoin in Dubai. When you arrive at a casino (or, if you prefer, Chuck E. Cheese), you exchange your money for chips. Then you may use your chips to play the games. In this scenario, the assets are the casino chips, and the goods are the games. Local citizens, tourists, or anyone else cansell bitcoin in Dubaifor Cash.
Bitcoin is a cryptocurrency as well as a global payment mechanism. It is the first decentralized digital currency, meaning the system operates without the involvement of a central bank or a single administrator. The network is peer-to-peer, and transactions take place directly between users using cryptography, without the involvement of an intermediary. We can all work together to promote free knowledge and peacebuilding across the world.
We are Coinsfera! Buy & Sell Bitcoin in Dubai
Customers are not constrained by trade restrictions while using Coinsfera's crypto exchange methods. Any quantity of cash may be purchased with simplicity, at the most affordable costs and with rapid transaction possibilities. Cryptocurrency transactions are almost instant and cost effective, the world is rapidly adopting this process. Coinsfera offers the ability to acquire Bitcoin, Ethereum, Tether, Ripple, BCH and many more cryptocurrencies in Dubai with cash at our OTC exchange office.
Customers may purchase BTC in Dubai with cash in only three steps. On the website, users can compute the amount of Bitcoin they wish to purchase. Then they should contact Coinsfera via social media or phone calls. Customers can obtain whatever information they require over the phone and then schedule a meeting. The final step is to visit the office with an ID card or passport tobuy bitcoin in Dubai with EURO, Dirham (AED) or US Dollar (USD).
Coinsfera, in addition to being a trusted worldwide seller, provides its users to instantly purchase any desired cryptocurrency with Cash by paying minute amount of commission. Customers are not constrained by trade restrictions while using Coinsfera's crypto exchange methods. Any quantity of cash may be purchased with simplicity, at the most affordable costs and with rapid transaction possibilities.
We provide buyers and sellers with free cryptocurrency consultation where we provide full support in creating crypto wallets and how to keep their cryptocurrency secure. Coinsfera ensures highly reliable transactions and minimal processing costs. Our adaptable system consolidates payments into a single integration, boosting speed, dependability, conversion, and data transparency. Coinsfera provides crypto trading services to its customers in United Arab Emirates tobuy bitcoin in Dubai.
How do I know?
Cryptocurrencies might be difficult to grasp. Throughout the process, our experts will assist you in taking the necessary actions. Coinsfera, which has been operating in numerous countries since 2015, provides users with easy access to cryptocurrencies. Our exchange's principal goal is to provide customer-oriented, convenient, and dependable services. Anyone will be able to exchange cryptocurrencies using our high-quality service. Providing quick and dependable exchange services while exceeding all of our superiorities is one of the most important values to us. Our first focus is to ensure that every customer is delighted with our services. You maybuy bitcoin in Dubai for cashby using our Bitcoin ATM map. Bitcoin ATMs are a convenient and discreet method to purchase bitcoins. That ease and privacy, however, comes at a cost; most ATMs charge a fee of 5-10%.
What Coinsfera is providing?
Our company's main focus is on service quality. Cryptocurrencies are futuristic tools that may be utilized for a variety of reasons. Individuals utilize cryptocurrency to keep up with financial industry changes. Coinsfera is here to assist you in making the most of it. The scope of our services is to assist you in selling and purchasing bitcoins through our Bitcoin shop. Aside from that, we can assist you with transferring and converting your cryptos andsell bitcoin in Dubai with cash. Our offices are positioned in city centers to make our services more accessible.
There are at least three opinions of what mass adoption genuinely means: Bitcoin mass acceptance, digital currency mass adoption, and blockchain mass adoption. Each of these categories should be handled independently. People frequently use the terms "mass adoption of blockchain technology" and "Bitcoin technology" interchangeably.
The passage of one does not imply the passage of the other. The development of the two technologies takes place in distinct areas. It is a common misconception among cryptocurrency aficionados that the birth of Bitcoin resulted in the discovery of blockchain, whereas this is simply not true.
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Company Name: CoinsferaEmail:[email protected]. +971 58 535 0505Address. Jumeirah Lake Towers, Cluster F, Indigo-Icon tower, Office # 501, 5th floor - Dubai, UAE
SOURCE: Coinsfera Bitcoin shop
View source version on accesswire.com:https://www.accesswire.com/671099/Buy-and-Sell-Bitcoin-in-Dubai-Made-Easier-by-Coinsfera || Bitcoin Back Over $60K as El Salvador Buys 420 BTC: Bitcoin (BTC) is making a recovery, its price up 4% in the last 24 hours and trading at around $61,000. This follows El Salvador’s government buying more bitcoin for its official account.
OnWednesday, El Salvadorian President Nayib Bukele tweeted that his government had “bought the dip,” adding an additional 420 BTC, which is equivalent to around $25 million. El Salvador’s treasury now holds an estimated 1,120 bitcoin, according to a Reutersreport.
“Today the markets were buoyed by news of additional state-level purchases from El Salvador, indicating the country’s intentions to continue to acquire,” said Jason Deane, analyst at Quantum Economics.
Underlying sentiment remains extremely bullish for the top cryptocurrencies, especially bitcoin, according to Deane.
The world’s largest cryptocurrency by market capitalization reached an all-time high on Oct. 20 of around $66,900, a day after the first bitcoin futures exchange-traded fund (ETF) in the U.S. launched on the New York Stock Exchange. A week later, bitcoin’s price fell below the $60,000 mark before retaking the level early Thursday.
“After a legendary sell-off that was predominantly in altcoins, we are seeing some relief and a bounce off initial $58,000support,” said Matthew Dibb, chief operating officer at Stack Funds.
Dibb predicted that “the next day will likely continue to be volatile, with a large options expiry happening tomorrow.”
Dibb expects bitcoin and ether (ETH) to surpass recent all-time highs within the next few weeks.
ETH, the native cryptocurrency of the Ethereum blockchain, reached an all-time high on Oct. 21 at $4,359. At press time, ETH was trading up 4.1% over the past 24 hours to $4,186.
Other altcoinsrallyingin the last 24 hours include meme coins dogecoin (DOGE), which is up 25%, and shiba inu (SHIB), which has surged 30%.
[Random Sample of Social Media Buzz (last 60 days)]
None available.
|
Trend: up || Prices: 48896.72, 47665.43, 46202.14, 46848.78, 46707.02, 46880.28, 48936.61, 48628.51, 50784.54, 50822.20
|
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 2017-11-22]
BTC Price: 8253.55, BTC RSI: 68.06
Gold Price: 1291.60, Gold RSI: 55.18
Oil Price: 58.02, Oil RSI: 69.11
[Random Sample of News (last 60 days)]
The Next Way To Play The Bitcoin Boom: Gain Capital: Gain Capital Holdings Inc(NYSE:GCAP) is the newest way for traders to play the bitcoin craze. The stock spiked more than 15 percent on Friday after management revealed the company would be launching bitcoin trading.
According to the companyearnings call, Gain plans on launching bitcoin trading in Q4 after repeated requests by customers to do so.
“So, the bitcoin is really an exciting prospect for us,” Gain CEO Glenn Stevenssaid.
“We are adding it to our product offering and it’s going to start out as a limited rollout and build from there and it will line up just like a currency pair next to our other products where a customer will be able to use their account as they do for other products to margin traded to be long, be short, get streaming prices, everything will be the same for the customer.”
Stevens said bitcoin will be embedded in its normal trading environment, and traders will be able to do “pretty much everything they can do with our existing products.”
Traders clearly see the bitcoin offering as a money-maker for Gain, and the move could potentially open the door for other trading services to provide customers access to cryptocurrency markets as well.
As it stands, one of themost popularway for traders to play bitcoin is the OTC-listedBitcoin Investment Trust(OTC:GBTC). However, long-term investors may be paying a hefty premium for the GBTC ETF. In September, Citron Research said the Bitcoin Investment Trust was grossly overvalued.
"Do you want to own a fund that owns [Bitcoin] while paying a price 70% higher than what the underlying asset is actually worth?” Citron asked in the report.
Citron has a $500 price target for the GBTC ETF.
Related Links:
Does Bitcoin Actually Hold Any Value At All?
Jamie Dimon: Bitcoin Is Stupid
See more from Benzinga
• A Guide To Who Loves And Hates Cryptocurrency
• The Curious Case Of Bitcoin, Dimon And JPMorgan
• Dalio Calls Bitcoin A Bubble
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 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 || No Fraud: Ex-JPMorgan Trader Masters Thinks Bitcoin Breakout Just Beginning: Of the many people to make the jump from Wall Street to cryptocurrency, few if any were as successful in their careers as Daniel Masters.
After working at legendary investment bank Salomon Brothers as an energy and derivatives trader, Masters took on an even bigger job, running global commodities trading at JPMorgan Chase. He then made a transition most people in the financial markets only dream of – moving from the sell side in banking to the buy side in hedge funds.
Masters opened his first hedge fund in 1999, but in the mid-2010s – as commodities and other traditional asset prices became less volatile and in turn less profitable – he discovered and ultimately became engrossed in the rollercoaster world of cryptocurrency.
Yet wild price swings weren't the only aspect of the market that interested the former trader. In a new interview, Masters told CoinDesk he was also captivated by the promise of borderless, frictionless, digital money.
From there, Masters began developing a strong intuition that bitcoin could, potentially, challenge fiat money and gold, and that it might play an important role incapital formation, the money-raising function that has traditionally been accomplished by stocks and bonds.
Masters said:
"I think, at the core of this, is the development of new tools that are challenging the role that fiat money and gold have historically played. And that challenge is being brought forth by bitcoin."
And while he still keeps an ear to the ground about his old shop – especially when JPMorgan CEO Jamie Dimon opines about cryptocurrency – those disruptive functions have become the foundation on which Masters bases his bullish investment thesis forGlobal Advisors Bitcoin Investment Fund, GABI for short.
While the legacy financial system sits on its haunches, failing to adapt to the opportunities cryptocurrencies present, as Masters sees it, the technology now exists to digitize and tokenize large swaths of traditional asset classes – such as money, precious metals, commodities, stocks and bonds.
Moreover, once those assets have been tokenized on a blockchain, they will be able to perform far more intelligent functions, because the assets themselves will be programmable, just like any other instance of computer code.
There are serious benefits, something that he points to for the rise of the cryptocurrency market, which is currently valued at over $150 billion.
In his mind, cryptocurrency has found a way to reach that scale in almost total isolation from the legacy financial system. Now becoming self-sustaining and reaching a kind of "escape velocity," cryptocurrency is finally gaining enough momentum to challenge the old ways of doing business in financial services, he said.
Still, institutions and investors are hesitant, seeing the market's intense volatility as a sign for concern.
But that doesn't phase Masters. He believes the price of commodities is "notoriously fractal," meaning that prices swing wildly in both directions, adding the big picture takeaway:
"Don't get hung up on price."
To highlight his theory, Masters cited his work trading natural gas in the late '90s.
At the time, there was a five-year period during which the commodity was trading between $0.50 and $0.85, making it difficult for many people to foresee natural gas trading above $15, as it later did. He also pointed to his years trading in the oil market, when the price of a barrel of oil hovered between $5 and $20, figures that made the $145 it traded at in 2008 seem exaggerated.
In a similar fashion, if you were obsessing about the price of ethereum's ether token when it hit $1, you would never have bought it at $20 – and, as Masters said, "Look where it is now." Notably, ether is currently trading at just below $300, according toCoinMarketCap
Masters sees the relatively low valuation of cryptocurrencies when compared to other asset classes as a major opportunity.
When you look at all digital assets currently trading, the combined market capitalization isn't as high as a single one of world's 100 largest stocks, a statistic Masters believes means there's room for growth. Further, as bitcoin is only the 65th largest currency in the world, and some of the larger currencies are highly problematic for political and economic reasons, he believes it's not unthinkable to believe the cryptocurrency could provide a real alternative.
One of the key drivers of Masters' thesis is that an investment in cryptocurrency is a fundamental investment in the forward movement of technology.
In essence, he believes, an investment in cryptocurrency is tantamount to an investment in fintech, medtech and the Internet of Things. In this way, the view provides an elegant counterargument to the cryptocurrency skeptics who believe blockchain technology may change the world, but that cryptocurrencies are a passing fad.
To Masters, cryptocurrencies will be the true market force.
He said:
"The vital thing to understand is that the momentum and the scale that you have in some of these public blockchains essentially means that it's going to be near impossible to build any of this big technology on any other kind of platform."
Masters adds that the cost savings derived from using cryptocurrencies to access a global, open-source financial platform will make it impossible for even large tech companies to bootstrap their own proprietary technology to effectively compete.
And when you begin to see cryptocurrencies in that context, you get a sense for just how large the potential of its digital economy may be.
Bearing in mind Masters' bullish view of the cryptocurrency space, one could expect him to disagree with Jamie Dimon's comments on bitcoin (most recentlycalling bitcoin a "fraud").
Indeed, despite their common background at JPMorgan, the two former colleagues have gone opposite ways when it comes to cryptocurrency.
While Masters believes Dimon has proven smart and hardworking in his role running the financial behemoth, Dimon doesn't have adequate time to understand the complex issues at stake in the cryptocurrency space, he said, calling the comments on bitcoin "short-sighted."
"I don't think Jamie Dimon has an open enough mind, all the time, to properly accept the contribution that digital assets can make," he said.
He points out that other senior financial executives – at such renowned institutions as Chicago Mercantile Exchange & Chicago Board of Trade, Chicago Board Options Exchange, and NASDAQ, where Masters' shop lists its bitcoin trackers – feel very differently.
Masters also points out that JPMorgan does, in fact, trade in bitcoin, and that JPMorgan Securities was buying bitcoin for its clients at the same time Jamie Dimon was criticizing cryptocurrencies.
He concluded:
"They either need to get with the program and support their clients who want to buy bitcoin, or they need to stop talking about it like a fool. Because those things are not consistent with an organization of that character."
Daniel Mastersimage via Vimeo
• 100 and Counting: Ripple Adds New Members to Distributed Ledger Network
• $5,000 in Reach? Bitcoin Falls Back After Hitting 5-Week High
• Goldman Sachs CEO: 'No Conclusion' on Bitcoin Yet
• 'Wolf of Wall Street' Jordan Belfort: Jamie Dimon is Right About Bitcoin || Market Snapshot – ECB Extends QE, Disappoints Euro Bulls: The star of the day was expected to be the euroand it was proved right as the ECB did the star turn which shot down the euro by belying the market expectations. The ECB extended the QE much longer than what was expected by the market and though it did cut down the QE, the timeline proposed by the ECB was much longer and this disappointed the euro bulls big time. They showed their displeasure by selling off the euro which which climbed beyond 1.18 during the first half of the day but this news has since carried the euro to below 1.17 during the US session and the currency is expected to be weak across the board in the short term as the market digests the weakness and the unexpected extension of the QE by the ECB.
On the flip side, this has givena large boost to the European stock markets which had shot higher with the DAX moving higher by more than 100 points and finally managing to break free of the 13000 region for good. They had been under pressure over the last few weeks as the tapering would have led to withdrawal of funds from the markets and this would have reduced the liquidity but with this extension, the stock markets have got a new lease of life and the bulls have now started buying into the markets big time. This is also likely to last for the short term atleast and would help the European stock markets to join the global rally in the stock markets.
Thisarticlewas originally posted on FX Empire
• E-mini S&P 500 Index (ES) Futures Technical Analysis – October 26, 2017 Forecast
• E-mini Dow Jones Industrial Average (YM) Futures Analysis – October 26, 2017 Forecast
• EUR/USD Daily Technical Analysis for October 27, 2017
• Bitcoin aims for new all time highs. EURUSD waits with trading signal for the ECB
• Gold Price Prediction for October 27, 2017
• Technical Update For USD/CAD, GBP/CAD, CAD/JPY & NZD/CAD: 26.10.2017 || Bitcoin just passed $8,000: Stop me if you've heard this before...
This morning bitcoin shot past ** INSERT PRICE MILESTONE **, and is now hovering around ** INSERT CURRENT PRICE ** — up nearly ** INSERT % ** percent from yesterday.
Just kidding. We don't actually use that template, but if you've been following bitcoin over the last 6 months it probably sounds very familiar.
In all seriousness, bitcoin has been on a wild run. Yesterday the price shot past $8,000 for the first time, and per usual when it breaks through a milestone is now trading solidly above it at $8,250.
Here's a quick recap of what's been happening in bitcoin world the last few weeks.
On November 2nd the price of Bitcoin passed $7,000 for the first time, fueled by demand before theSegwit2x hard forkthat was supposed to happen a few days ago. Anyone that held a bitcoin prior to the fork would receive an equal amount of the forked coin, which some saw as being akin to free money.
When the hard fork was canceled on November 10th the price plummeted down to $5,800 as people moved their money back into alternative cryptocurrencies. This sudden plummet also coincided with some very strange movement in the price of bitcoin cash (BCH) which saw the price and hash rate spike for about 24 hours, temporarily making it the second most valuable coin and the coin with the most hash rate (even surpassing bitcoin).
Bitcoin's price over the last month - from coinmarketcap.com
Anyways, now that the drama has passed the price is on a steady climb again and well past $8,000. So what's causing this?
While I made thisargument when it passed $5,000in early October, I still think that institutional interest is the main cause of this extended rally.
Over 100 cryptocurrency-focused hedge funds have been created in the least year, which are acting as a conduit for large amounts of fiat being converted to bitcoin and other cryptocurrencies. Even old-school hedge funds and investment institutions are getting in on the action, to the extend that there are services that allow them to safely do so.
And these services are coming. Just last weekCoinbase announced a service to securely store $10Mor more of cryptocurrency for institutional investors. Additionally,CME group will launch the first ever regulated bitcoin futuresproduct on December 10th. Both of these offerings will make it easier for large diversified investment vehicles to enter the market.
So what's next? No one knows, but at this point it looks like $10k before the end of the year is possible. Of course it's just as likely for the price to plummet, as many say we are due for a correction. || Wall Street Analyst Bernstein: Bitcoin Is a 'Censorship Resistant Asset Class': Bitcoin is a "censorship-resistant asset class" – but not quite money – according to analysts for New York-based firm Bernstein.
In a note sent to clients on Wednesday, according toBusiness Insider, analysts explored that question, ultimately concluding that while it shares some of its characteristics, it falls short under what would be considered "money" today.
"Fiat money is still the final form of settlement – governments still collect taxes in fiat money and salaries are still paid in fiat money," the note explained. "Thus, for now, Bitcoin has only emerged as a 'censorship resistant' asset class."
The analysts notably reckon that bitcoin's ecosystem functions more like a self-reliant economy than, say, strictly a network of digital money.
"Bitcoin could be seen as virtual 'bearer cash' economy supported by a decentralized 'trustless' network – a new crypto economy with its own protocol or policy," the firm wrote in the note. "The faith of its citizens – software developers, miners, investors, early individual and sovereign state adopters [–] would drive the value of that network."
Bernstein's determination is unlikely to sway proponents who say cryptocurrencies represent a new form of money. Indeed, it's a sticking point that has drawn both supporters and critics for as long as bitcoin has been in the public eye.
Some observers have struck a middle ground in the argument. Last month, investor and anarcho-capitalistDoug Caseyargued that while bitcoin might be money, it's not likely to last in the long-run.
Imagevia Shutterstock
• Macquarie Analyst Rejects Jamie Dimon's Bitcoin 'Fraud' Critique || Harley-Davidson Inc (HOG) Revs Up Despite Falling Sales: Harley-Davidson Inc (NYSE: HOG ) stock was riding high today despite falling sales in its third quarter of 2017. Harley-Davidson Inc (HOG) Revs Up Despite Falling Sales Source: Crysis Rubel via Flickr (Modified) Harley-Davidson Inc reported revenue of $962.14 million in the third quarter of the year. This is down from its revenue of $1.09 billion that was reported during the third quarter of 2016. Despite the drop in sales, HOG still beat Wall Streets revenue estimate of $953.26 million for the quarter. Harley-Davidson Inc notes that there were a few factors that affected its revenue in the third quarter of 2017. The first is the impact from recent hurricanes in the southeast and Texas on motorcycle sales in the U.S. The company also says that international motorcycle sales were down in Japan, Australia and Mexico. InvestorPlace - Stock Market News, Stock Advice & Trading Tips During the third quarter of 2017, Harley-Davidson Inc saw its Motorcycles and Related Products segment revenue drop due to lower motorcycle shipments. Motorcycle shipments were down roughly 14% in the quarter. HOG stock was also likely helped today by earnings per share of 40 cents for the third quarter of the year. While this is down from Harley-Davidson Incs earnings per share of 64 cents from the same time last year, it still comes in above analysts 39-cent estimate for the quarter. 10 Smart Money Stocks to Sell for 2018 Harley-Davidson Inc says that it still expects motorcycle shipments for the full year of 2017 to range from 241,000 to 246,000 units. The company notes that this represents a decrease between 6% and 8% when compared to motorcycle shipments for the prior year. HOG stock was up 2% as of Tuesday afternoon, but is down 17% year-to-date. More From InvestorPlace 7 Investments Every Retirement Investor Should Own 5 Bitcoin Stocks to Buy for Low-Risk Cryptocurrency Profits 7 Spinoff Stocks That Could Be Better Than Their Parents As of this writing, William White did not hold a position in any of the aforementioned securities. The post Harley-Davidson Inc (HOG) Revs Up Despite Falling Sales appeared first on InvestorPlace . || Buying Alphabet Inc (GOOGL) Stock on the Dips is Easier Said Than Done: My InvestorPlace colleague Laura Hoy recently recommended investors consider Alphabet Inc (NASDAQ: GOOGL ) after the FANG stock reports third quarter 2017 earnings because they’re likely to be disappointing, knocking GOOGL stock for a bit of a tumble. Buying Alphabet Inc (GOOGL) Stock on the Dips is Easier Said Than Done Hear, hear. InvestorPlace - Stock Market News, Stock Advice & Trading Tips I’m such a big fan of buying on the dips that in February 2016 I created a theoretical portfolio of 21 stocks using Google Finance, each with a $10,000 investment, all of which had lost 20% in a single week of trading. Except for seven losers, they’ve all recovered nicely and then some. Take Trinity Industries Inc (NYSE: TRN ) as an example. It closed trading on Feb. 12, 2016 at $20.84. A week later, it finished at $15.97, down 23.4% over the intervening five days on weak guidance for fiscal 2016. I bought my theoretical shares Feb. 29 using the day’s high of $16.05 in an effort of fairness. Fast forward almost 20 months and Trinity’s trading above $34, more than double where it was right after delivering bad news. That compares to a 35% gain for the SPDR S&P 500 ETF Trust (NYSEARCA: SPY ) over the same period. Yes, it pays to buy on the dips, making Hoy’s suggestion timely and smart. There’s Only One Problem To buy on the dips there have to be some dips. No, I’m not talking about a 20% dip like Trinity Industries’ shareholders experienced, but something more substantial than 1-2%, say 5%. 10 Smart Money Stocks to Sell for 2018 I’ve gone back over the past five years of GOOGL stock prices looking for weekly share price declines of 5% or more. Starting in October 2012, my search looked for weekly drops of $18 back then to about $50 today. Here’s what I found: Although there were a few weekly declines of 2%-3%, there were just nine dips of 5% or more, most recently a 5.7% down move the week of June 26 when it closed out the month at $929.68. The average weekly drop was 6.3% with a single decline in 2012 (three months only), two in 2014, two in 2015, three in 2016, and just one through the first nine months of 2017. As Google’s share price moves higher, a 5% decline becomes less and less plausible. However, if you’re going to pick the most likely month for this to happen, my research suggests October (three declines of 5% or more) or January (two 5% drops) are the likeliest months for it to happen. Overall, GOOGL stock fell 5% in only nine weeks out of 312 over the past five years. That’s less than 3% of the time. Story continues So, unless you feel like Alphabet’s earnings are going to fall off a log, I’m not sure how much you gain by waiting for the company to announce its earnings after the markets close on Oct. 26. Bottom Line on GOOGL Stock I’ve become less sure about GOOGL stock in recent months but not enough to swear off recommending investors buy it for their portfolios. In late September I suggested that Alphabet needs to stop picking fights with other companies and focus on its core business. It remains to be seen if it can do that. Boeing Co (BA) Must Drop Its Canadian Fight — or Else Hoy mentioned Waymo being ready to test in the Phoenix area; that’s good news for fans of the company’s self-driving cars. If successful, this could be a real boost to Alphabet’s other bets. Given what Hoy has said about a dip in late October — there will be three days of trading after the earnings release — I believe if you want to buy GOOGL stock, you buy a half position now before earnings and the rest in early November after the dust has settled on its share price. Although buying GOOGL stock on the dips isn’t easy, history suggests October is one of the likeliest times to take a nosedive. As of this writing, Will Ashworth did not hold a position in any of the aforementioned securities. More From InvestorPlace 7 Spinoff Stocks That Could Be Better Than Their Parents 5 Bitcoin Stocks to Buy for Low-Risk Cryptocurrency Profits 10 Best Stocks to Buy and Hold for the Next Decade The post Buying Alphabet Inc (GOOGL) Stock on the Dips is Easier Said Than Done appeared first on InvestorPlace . View comments || The Birth Of New Bitcoin Fork-Bitcoin Diamond (BCD) Launched with Extensive Research and Development.: After Nine Years of Rapid Development of Bitcoin, Bitcoin Diamond, a New Cryptocurrency, was Recently Launched and the Innovators Dubbed it as the Fruit of their Long-Term Research and Development
SINGAPORE, SINGAPORE / ACCESSWIRE / November 12,2017/Bitcoin Diamond, a new cryptocurrency was recently launched by Team EVEY& Team 007, two teams of bitcoin miners who were not happy with some of the major downsides of Bitcoin. After nine years of rapid development and various issues that the miners faced with Bitcoin, such as lack of privacy protection, high transactionfeesand slow transaction speed, the teams finally collaborated and rolled out Bitcoin Diamond.
Bitcoin Diamond or BCD will solve the known downsides of Bitcoin, according to Bitcoin Diamond Foundation, the collaborative venture.
"Bitcoin Diamond is a fork of Bitcoin that occurs at the predetermined height of block 495866", said anEVEYteam member while also launching the official websitehttp://www.btcd.io/index.html.
"Bitcoin Diamond miners will begin creating blocks with a new proof-of-work algorithm, and will consecutively develop and enhance the protection for account transfer and privacy based on original features of BTC. The original Bitcoin blockchain will continue on unaltered, and a new branch of the blockchain will split off from the original chain. It shares the same transaction history with Bitcoin until it starts branching and coming into a unique block from which it diverges. As a result of this process, a new cryptocurrency was created which we call 'Bitcoin Diamond'", he commented.
According to the team member, Bitcoin Diamond has various benefits, such as better privacy protection, encryption of the amount and balance which protects customers' privacy and faster transaction confirmations.
"Bitcoin Diamond has raised the block size as part of a massive on-chain scaling approach. There is ample capacity for everyone's transactions. The speed of generating blocks will be increased five times and the ultimate goal is to improve transaction confirmation speed for the entire BTC blockchain", said another team member.
He also added that Bitcoin Diamond will lower thecost forparticipation thresholds. According to him, it will reduce the transaction fees and the cost ofparticipations. "The total amount of Bitcoin Diamond is ten times as much of Bitcoin which will reduce the cost of the newparticipationsand lower the thresholds", he told the press.
About the Company:
Bitcoin Diamond (BCD) is a fork of Bitcoin based on Bitcoin protocol and a new cryptocurrency.
To know more, visithttp://www.btcd.io/index.html
Contact Info:
Name: Media RelationsOrganization: Bitcoin Diamond (BCD)
For more information, please visithttp://www.btcd.io/
SOURCE:Bitcoin Diamond (BCD) || Global stocks weighed by doubts on US tax reform, sterling falls: By Sinead Carew NEW YORK (Reuters) - Stocks notched a small gain in choppy trade on Monday amid uncertainty over the fate of U.S. tax reform efforts, while Britain's pound fell as investors worried if Theresa May can remain Prime Minister and get a good European Union exit deal. U.S. stock indexes made little ground. Some investors sought bargains after a few days of losses while others were put off by a dividend cut and weak financial forecasts at heavyweight General Electric which plans to radically shrink to focus on aviation, power and healthcare. Investors were waiting for any signs of compromise on U.S. tax policy after U.S. Senate Republicans on Thursday unveiled a plan that would cut corporate taxes a year later than a rival House of Representatives' bill. "What the market seems to be focused on is if and when tax reform will be agreed on by Republicans in both the Senate and the House and how it'll fare in Congress," said Ryan Larson, head of U.S. equity trading at RBC Global Asset Management in Chicago. While senators and representatives are trying to reach a deal, investors can still hope, said Nathan Thooft, senior managing director at Manulife Asset Management in Boston. "They're still working through the math attached to the two plans. They still have to go through reconciliation but the fact the conversations are happening is a positive." The Dow Jones Industrial Average <.DJI> rose 17.49 points, or 0.07 percent, to 23,439.7, the S&P 500 <.SPX> gained 2.54 points, or 0.10 percent, to 2,584.84 and the Nasdaq Composite <.IXIC> added 6.66 points, or 0.1 percent, to 6,757.60. The pan-European FTSEurofirst 300 index <.FTEU3> lost 0.53 percent and MSCI's gauge of stocks across the globe <.MIWD00000PUS> shed 0.25 percent, a third straight day of losses after hitting an intraday record high on Thursday. Sterling fell 0.6 percent, its biggest daily fall against the dollar since Nov. 2. It was also down 0.6 percent against the euro after the Sunday Times newspaper reported that 40 members of parliament from May's Conservative Party agreed to sign a letter of no-confidence in her, eight short of the requirement to trigger a party leadership contest. "That just highlights some of the internal weakness that the Conservative party has within its own self and I think that’s going to undermine the Brexit negotiations going forward," said Sireen Harajli, foreign exchange strategist at Mizuho in New York. [nL1N1NJ1AQ] The+ dollar edged higher against a basket of other major currencies, recovering ground after a 0.6 percent drop last week. It <.DXY> rose 0.1 percent, with the euro up 0.03 percent to $1.1666. U.S. two-year Treasury note yields hit a fresh nine-year high as the yield curve resumed its flattening, with investors pricing in a Federal Reserve interest rate hike in December. The two-year yield hit a nine-year peak of 1.687 percent, up from 1.662 percent Friday. Oil prices held steady in a tight range Monday after briefly testing lower, with support from Middle East tensions and record long bets by fund managers balanced by rising U.S. production. [nL3N1NJ1BB] A purge of Saudi Arabia's leadership by Crown Prince Mohammed bin Salman has raised concerns about political stability in the region's largest oil producer. U.S. crude fell 0.04 percent to $56.72 per barrel and Brent was last at $63.13, down 0.61 percent. (For a graphic on 'Bitcoin' click http://reut.rs/2zwrYNz) (For a graphic on 'MSCI World' click http://reut.rs/2zycSXR) (For a graphic on 'World FX rates in 2017' click http://tmsnrt.rs/2egbfVh) (Additional reporting by Saqib Iqbal Ahmed, Jessica Resnick-Ault and Gertrude Chavez-Dreyfuss in New York, Dhara Ranasinghe and Saikat Chatterjee in London, and Hideyuki Sano in Tokyo; Editing by Chizu Nomiyama and James Dalgleish)
[Random Sample of Social Media Buzz (last 60 days)]
1FxkDwMNh...gJ5fS81te just won 0.0000034 BTC in our Free #lottery. Jackpots at: 1.3082886 BTC - https://yabtcl.com/freeLottery.aspx … #YABTCL #Bitcoin || #bitcoin non si ferma più? Analisi tecnica || #bitcoin non si ferma più? Analisi tecnica || Google balloons to help restore Puerto Rico’s cell networkshttps://bitcoinwarrior.net/2017/10/google-balloons-help-restore-puerto-ricos-cell-networks/ … || 「ビットコイン マイニング」とは！？bitcoin マイニング やってみた！ ⇒ http://goo.gl/wRcXkd || Billionaire financier weighs in on the future of Bitcoin http://tnw.me/oeKJYln pic.twitter.com/GnSrK5bboP || 占いはタロットカード、オラクルカード、ペンデュラム、ジオマンシー占い、数秘術、ルネーション占星術を使用して鑑定致します！
#占い、#ビットコイン、#Bitcoin、#タロット、#数秘術、#ストレス、#ビジネス、#起業、#独立 || RT BloombergTV "Global regulators are playing a game of bitcoin Whack-a-Mole as demand explodes … pic.twitter.com/lPAHsAWv0F" || Gana $45,00 Usd Por Afiliar, Quieres ganarte dólares con Bitcoin sin tanto esfuerzo? Es solo d ··· https://goo.gl/Cdo6SQ > #España || [The average price]
Bithumb,Coinone,Korbit
Time: 11/03 00:49:01
BTC: 8,227,500 KRW
ETH: 334,116 KRW
XRP: 220 KRW
#Bitcoin #Ethereum #Ripple
|
Trend: up || Prices: 8038.77, 8253.69, 8790.92, 9330.55, 9818.35, 10058.80, 9888.61, 10233.60, 10975.60, 11074.60
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Retail Giant Newegg Expands Bitcoin Payments to Canada: Computer hardware retailer Newegg has begun accepting Bitcoin payments in Canada.
Newegg — which has approximately 36 million customers and was one of the first well-known companies to accept cryptocurrency payments — made the announcement on Tuesday, explaining that Bitcoin payments have represented a “small but growing stream of purchase transactions” in the US and that the retailer wanted to make the feature available to Canadian customers as well.
“In 2014 Newegg was among the first major companies to offer customers a bitcoin payment option,” said Danny Lee, Newegg’s CEO. “Since that time the value of bitcoin has skyrocketed and customers holding bitcoin have considerably more purchasing power. We believe the time is right to broaden our acceptance of bitcoin to our customers in Canada.”
Like most merchants,Neweggdoes not accept the cryptocurrency directly. Rather, it usesBitPay, a third-party payment processor, who, for a small fee, converts the coins into fiat currency at the point of sale.
BitPay will continue to serve as Newegg’s Bitcoin payment processor as it expands this feature into Canada.
“Newegg was an early e-commerce adopter of bitcoin, and that leap of faith the company took in 2014 put Newegg on the map as a bitcoin-friendly place for tech enthusiasts to shop,” said BitPay CEO and co-founder Stephen Pair. “We’re seeing a lot of traction in Canada, and we’re happy to see Newegg extend its bitcoin payment option north of the border.”
The retailer’s announcement is welcome news for cryptocurrency enthusiasts, as rising transaction fees had led several merchants to shutter Bitcoin payments in recent months (fees have since declined to more reasonable levels as network congestion has decreased).
Payment processing firm Stripe recently announced it would beginphasing out Bitcoin payments, though it may add support for Stellar (to whom it provided seed funding) or other cryptocurrency projects in the future.
More recently, Reddit — which began accepting Bitcoin for its premium memberships when BTC was priced less than $25 —removed the payment optionlast week. A Reddit admin chalked the option’s removal up to Coinbase’s merchant services overhaul but said the company had not decided whether it will reenable Bitcoin payments when the new platform is live.
Featured image from Shutterstock.
The postRetail Giant Newegg Expands Bitcoin Payments to Canadaappeared first onCCN. || South Korean capital Seoul mulls 'S-Coin' tokens and blockchain-based government: South Korea has been at the forefront of the blockchain movement, with some of the highest density of cryptocurrency traders anywhere in the world. Now, as the frenzy around cryptocurrency prices recedes (Bitcoin is around $7350 right now, down from a high of almost $20,000 last December), the country is starting to consider the more utilitarian aspects of blockchain that might not immediately lead to riches. Seouls mayor, Park Won-soon, discussed the citys plans to launch what is currently being dubbed the S-coin in an interview with CoinDesk. In his vision of the program, the coin could be used for subway fares, as well as a payment method for city-funded welfare programs for public employees, young job seekers and citizens helping the environment by saving electricity, water and gas. Thats a remarkable statement coming from an office that is widely considered to be the second most important in the country. Its also a far cry from the strong opposition that national leaders and regulators voiced toward blockchain and cryptocurrencies in particular during the run up in Bitcoin and Ethereum prices last year, particularly in the wake of a series of Bitcoin heists by North Korea . Back then, the Korean financial authorities and the Justice Ministry said that they were considering outright banning cryptocurrencies . Now, over the past few weeks, national authorities have quietly floated new proposals around Initial Coin Offerings (ICOs), potentially creating a procedure that would allow ICOs in well-regulated circumstances . Mayor Park also said in his interview with CoinDesk that further regulation would be necessary around blockchains before any of Seouls proposals could be brought into effect. The invention of blockchain, and Bitcoin in particular, was seen by many in the community as a way to disrupt politics as usual, by moving power away from central authorities to decentralized players. However, the technology increasingly looks like it will be subsumed by the state to improve existing institutions. Story continues South Korean cities, like counterparts elsewhere around the world, are investigating whether blockchain technology could provide mechanisms like algorithmic zoning . City governments often hold many records of interest to blockchain specialists, including property records, ID records, zoning codes, business and health licenses, as well as construction permits. Creating a transparent and efficient clearinghouse for such information could generate significant gains for the quality of urban governance. In this context, it is important to clearly delineate blockchain as database and cryptocurrencies as money. The proposals from Seoul and elsewhere have been designed around the former. Even when such tokens might provide a financial benefit, such as a discount on subway fares or housing, these tokens are not designed to be fungible currencies in the same way that cryptocurrencies are, but instead convenience tools to provide digital access to amenities. Thats in contrast to initiatives like the one from Venezuela to create an oil-backed cryptocurrency called Petro , which many analysts saw as a convenient means to avoid U.S.-led sanctions on the Maduro regime. The Trump administration blocked the purchase of Petro last month . Seoul is expected to announce a roadmap for blockchain in the coming weeks, and other cities are coming close to launching their own initiatives. The value bubble in cryptocurrencies may be receding, but their practical uses may well drive the next wave of innovation. || What to Watch When IBM Reports Earnings Next Week: WhenInternational Business Machines(NYSE: IBM)reported its fourth-quarter financial results in January, investors got news they had waited nearly six long years to hear: The company had finally returned to growth after 22 consecutive quarters of year-over-year revenue declines.
Many believed, or at least hoped, that this would mark aturning pointfor the beleaguered tech giant, and IBM is scheduled to report its financial results for the first quarter on Tuesday, April 17, after the market close. The company has a lot riding on these results, so let's take a look at the numbers that will have investors sitting on the edge of their seats.
IBM finally broke its streak of year-over-year revenue declines. Can it continue? Image source: Getty Images.
For the fourth quarter of 2017, IBM's revenue of $22.5 billion grew 3.5% year over year. In addition to the long-awaited revenue gains, the company's operating income grew 3% year over year, generating earnings per share of $5.18, excluding one-time items. Including the $5.5 billion charge related to recently passed U.S. tax legislation, IBM produced a loss of $1.14 per share.
For 2018, the company plans to report at least $13.80 in operating earnings per share -- exactly what it produced in 2017. The company believes it will generate between 17% and 18% of that in the first quarter -- or between $2.34 and $2.48. The company was cagey about revenue, saying only that, "we're entering 2018 with a stronger revenue profile than a year ago." For reference, the company reported $18.2 billion in revenue for the first quarter of last year. IBM also expects margins to stabilize and is forecasting free cash flow for the year of about $12 billion.
Analysts' consensus estimates for the first quarter are calling for revenue of $18.71 billion, up 3.1% year over year, as well as adjusted earnings per share of $2.39, near the midpoint of IBM's guidance, and up slightly over the prior-year quarter.
IBM has been in the midst of an ongoing transition, jettisoning some of its legacy businesses and focusing on high-growth initiatives that include analytics, cloud computing, artificial intelligence (AI), security, and mobile -- all of which the company calls its strategic imperatives. In the fourth quarter, these activities resulted in quarterly sales of $11.1 billion, up 17% over the prior-year quarter.
Investors will be looking for increases from these newer technologies, which generated $36.5 billion in 2017, up 11% year over year, and grew to represent 46% of IBM's total revenue.
Investors are hoping IBM will continue its revenue growth. Image source: IBM.
Looking ahead, investors will be keenly interested in what IBM has to say about the second quarter. Considering its recent return to revenue growth, investors will not only want that to continue in the current quarter, but will have expectations that the company will keep this newly initiated streak alive.
Last year, the company produced just over 24% of its full-year revenue during the second quarter. Assuming similar revenue to last year, we should expect the company to forecast sales that exceed $19.3 billion for the second quarter of 2018. Similarly, using last year's numbers as a benchmark, investors should expect guidance of at least $2.97 in operating earnings per share.
IBM will be riding the razor's edge when it reports financial results. Last quarter's return to revenue growth bought the company some time with investors, as theirpatience is wearing thin. To stay in the market's good graces, however, IBM will have to keep delivering growth.
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Danny Venahas the following options: long January 2019 $165 calls on IBM. The Motley Fool is short shares of IBM. The Motley Fool has adisclosure policy. || Here's How Intel Corp.'s Memory Business Did in Q1 2018: One of thegrowth opportunitiesthat chip giantIntel(NASDAQ: INTC)is pursuing is the rapidly expanding market for non-volatile memory products, which includes NAND flash (a type of computer memory commonly used for fast, efficient storage), as well as 3D XPoint, a unique technology that Intel helped to create for customers who want storage that's even faster than NAND flash.
This business unit is called Intel's non-volatile memory solutions group (NSG).
Image source: Intel.
In 2017, this segment deliveredrecord revenue results, although profitability remained elusive as the company's investments in future technologies and the ramp-up of NAND flash production in its Fab 68 facility in Dalian, China, offset the good sales performance.
Let's go over how this business performed in the first quarter of 2018 and put that into the context of Intel's long-term prospects.
NSG enjoyed revenue of $1.04 billion in the first quarter of 2018, up 20% from the same quarter a year ago. The business still lost money -- $81 million, to be exact -- but that loss was narrower than the $129 million loss that the business suffered in the first quarter of 2017.
The company attributes the year-over-year revenue growth to higher unit shipment sales to data center customers, though that growth, Intel says, was partially offset by lower average selling prices "due to mix of products" (this means that Intel sold, on average, cheaper products).
As far as the operating loss reduction goes, Intel says that this was due to the continued production ramps of its new triple-level cell (TLC) NAND flash and 64-layer 3D NAND flash-based products, which helped to reduce the company's product cost structure compared to the technologies it was shipping last year.
The lower unit cost, Intel says, "outpaced the decline in [average selling prices]," suggesting an improvement in gross profit margin.
Although the business lost money in the first quarter of 2018, Intel reiterated its expectation that NSG would be profitable for the full year.
Ultimately, Intel's entry into the non-volatile memory business is meant to allow the company to grow its revenue while also complementing its other businesses. For example, Intel is the leading vendor of processors and platforms for personal computers, and personal computers are increasingly shifting toward NAND flash-based storage drives, so Intel can try to offer major PC makers NAND flash-based drives alongside processors, wireless chips, and other components.
The same argument applies in the data center. In fact, Intel's position in data center storage drives is quite a bit stronger than its position in consumer/PC oriented products because Intel's portfolio of data center solid-state drives is much more competitive than its consumer solid-state drive portfolio.
On top of that, Intel's competitive advantages in drive performance tend to be more valuable to data center customers (who will pay more to boost performance and ultimately lower their operating expenses) than to consumers, who often just want as much storage as they can get for the lowest price.
Intel's investment in building out its memory business has beensubstantialin terms of both technology research and development expenses and capital expenditures, but considering that this business continues to deliver strong revenue growth and could soon be a source of robust profit growth, I'd say those investments have been and continue to be well worth it.
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Ashraf Eassaowns shares of Intel. The Motley Fool recommends Intel. The Motley Fool has adisclosure policy. || A Practical Bond ETF Right Now: This article was originally published onETFTrends.com.
Floating rate notes, like the name suggests, have a floating interest rate.
Specifically, the notes’ have a so-called reset period with interest rates tied to a benchmark, such as the Fed funds, LIBOR, prime rate or U.S. Treasury bill rate. Due to their short reset periods, these floating rate funds have relatively low rate risk.
Investors can access floating rate Treasuries via exchange traded funds, including the WisdomTree Bloomberg Floating Rate Treasury Fund (USFR) . The WisdomTree Bloomberg Floating Rate Treasury Fund tries to reflect the performance of the Bloomberg U.S. Treasury Floating Rate Bond Index, which is comprised of floating rate public obligations of the U.S. Treasury.
“In January 2014, the U.S. Treasury issued its first floating rate note (FRN). Treasury FRNs pay a coupon on a quarterly basis and mature in two years,”said WisdomTree. “The coupon rate 'floats' and is based on the 13-week t-bill yield plus a spread. The spread represents a snapshot of demand for a particular FRN when it is auctioned and remains fixed for the life of the note (low demand = high spread; high demand = low spread). The duration of the FRN is only one week because that is the amount of time between interest rate resets.”
Related:3 Major Concerns as U.S. Jobs Report Released
Expectations For Floaters
As a result of the safe and conservative nature of floating rate bonds, investors should not expect high yields. Nevertheless, Treasury money market funds are so starved for yield that anything with an extra basis point or two and the quality and liquidity of a Treasury security will provide an attractive alternative.
“The simple reason that we prefer floating rate notes versus rolling three-month t-bills over the next two years is that we want to receive higher yields as the Fedhikes rates,” said WisdomTree. “As short-term interest rates rise, the yield on Treasury floaters will reset each week at progressively higher rates. By contrast, if investors wanted to roll three-month t-bills over the next two years, they would only able to boost the yield of their holdings every three months (e.g., four times per year).”
Related:3 Reasons Why $1.3 Billion Flowed to T-Bill ETF
Looking ahead, the floating rate notes will generate more interest if Treasury prices fall and yields rise further, which should play out if the Fed continues on its interest rate normalization schedule.
For more on Fixed income ETFs, news on rising rates and other related strategy, visit ourFixed Income Channel.
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READ MORE AT ETFTRENDS.COM > || If This Report Is True, Airbus Is in Big Trouble: During 2017, Boeing (NYSE: BA) smoked its European rival Airbus (NASDAQOTH: EADSY) in terms of orders for wide-body planes. Boeing received 167 net orders for wide-bodies last year, compared to just 55 for Airbus. The U.S. aerospace giant's momentum has continued in early 2018. Boeing booked 21 net firm wide-body orders in January and February, versus eight for Airbus. Boeing has also finalized at least one major wide-body deal this month. Recent reports suggest that Boeing is set to further extend its dominance in the wide-body market. American Airlines (NASDAQ: AAL) is poised to place an order for 25-30 additional 787 Dreamliners, while canceling its existing order for 22 Airbus A350s. An American Airlines plane in flight, with mountains in the background American Airlines will probably place an order for up to 30 787-9s soon. Image source: American Airlines. American Airlines' Airbus order has been up in the air Way back in 2005, US Airways ordered 20 A350s. Two years later, in conjunction with major design changes for the Airbus A350 family, the carrier increased its order to 22 units. American Airlines inherited this order in 2013 when it merged with US Airways. The A350s were initially scheduled for delivery beginning in 2014. But due to a combination of production delays and two deferrals by American Airlines in the past two years, the first A350s are now supposed to arrive in late 2020. During the past year, American's management has openly acknowledged that the company is rethinking the A350 order. The merger is the main reason for this change of heart. US Airways was about a third the size of the current merged airline, so it would have been reasonable to operate 22 aircraft of a particular type. However, it's not efficient for an airline the size of American to operate such a small subfleet, according to the carrier's president, Robert Isom. Indeed, American Airlines aims to simplify its fleet from 52 subfleets in 2016 (including different configurations of the same aircraft) to just 30 by the end of 2022. In keeping with this goal, management decided that it needed to increase the size of the A350 order or cancel it outright. Another victory for Boeing American Airlines is set to dump its A350 order in favor of buying 25-30 additional Boeing 787-9 Dreamliners, according to Reuters . The airline had been in talks with Airbus about switching the order to the slightly smaller (and cheaper) A330-900neo, but Airbus isn't willing to match the price that Boeing offered for the 787-9. A 787-9 Dreamliner flying over a river Boeing has been offering rock-bottom pricing on the 787-9 to key customers recently. Image source: Boeing. Story continues American's preference for the 787-9 makes sense -- especially if it's the cheapest option. As of the end of 2017, American Airlines operated 34 Dreamliners, including 14 787-9s. It also has another eight 787-9s set to arrive in 2018 and 2019. By contrast, it doesn't have any A350s or A330-900neos. Thus, of the options that American considered, buying more 787-9s was most consistent with its fleet simplification goals. To be fair, American Airlines claims that it hasn't made any final decision on its fleet. However, Hawaiian Holdings said almost exactly the same thing last month, following reports that it planned to dump an order for A330neos in favor of the 787-9. Just a few weeks later, it confirmed its intention to order the Dreamliner . Does Airbus have an answer? Assuming the recent reports are accurate, it's another big blow to Airbus: especially its A330neo wide-body program. Airbus began selling this upgraded version of its A330 jet family in mid-2014, but it has accumulated just 214 firm orders. Furthermore, Airbus has captured just 10 firm orders for the A330-900neo since the beginning of 2017 -- while the smaller A330-800neo model has lost all of its 10 orders during that period. To make matters worse, 44% of the A330neo order backlog comes from two airlines: Iran Air and AirAsia X. Iran Air's order for 28 aircraft could easily be disrupted by renewed U.S. sanctions, while AirAsia X may be reconsidering its massive order for 66 A330-900neos. More than 60 additional A330neo orders come from several aircraft leasing companies, which prefer aircraft that have a large base of operators. In short, getting American Airlines to switch from the A350 to the A330neo would have gone a long way toward solidifying the latter's position in the marketplace. Instead, Boeing could soon be one step closer to dominating the market for small to medium-size wide-bodies. Airbus' current strategy is predicated on the idea that it can discount the A330neo enough to steal sales from Boeing's Dreamliner. If Boeing is willing to match or even beat Airbus' prices for the A330neo, then Airbus may need a completely new approach to compete in this market segment. 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 Hawaiian Holdings. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . View comments || Why Tesla Is Now Worth Less Than General Motors: Investors inTesla(NASDAQ: TSLA)were jubilant when the upstart Silicon Valley automaker's market cap passedGeneral Motors'(NYSE: GM)for the first timelast spring.
It felt to many like a profoundly important moment: Suddenly, Tesla was America's most valuable automaker, almost as if GM had passed the torch.
But now, GM has grabbed it back. At just under $51 billion as of Thursday's close, GM's market cap was almost $6 billion higher than Tesla's.
Why does the market now think that Tesla is worth less than GM?
Tesla's Model 3 was supposed to transform the company into a major global automaker. But manufacturing problems are writing a very different chapter in Tesla's story. image source: Tesla, Inc.
I should be clear about something up front: This has never ever been about the companies' relative fundamentals. GM sold 9.6 million vehicles around the world last year, earning $12.8 billion on an adjusted pre-tax basis, while Tesla delivered 103,097 vehicles and lost $2.2 billion before taxes.
It's not really about GM at all. It's about Tesla's valuation, and Tesla's valuation has always been all about its story.
Tesla has had one of the all-time great corporate stories, inventing super-cool technology with near-limitless growth potential. That story has powered it to a valuation far beyond anything that is even remotely justified by its fundamentals.
Of course, the thing about story stocks is that when the story changes, the stock price can change quickly as well. And in the last couple of weeks, Tesla's story has started to show some cracks -- at least one of which could turn out to be a huge fissure.
March was a rough month for many stocks, including GM. But it was rougher for Tesla than most: The company's share price, and its market cap, dropped over 20%.
TSLA Market Capdata byYCharts.
What happened? Tesla's story came under pressure.
Tesla's Model 3 is supposed to be the car that will transform Tesla from a boutique maker of high-end electric vehicles for tech enthusiasts to a genuine mass-market automaker, one that builds cars by the millions year after year.
To get there, Tesla said it would create a super-automated production line faster and more efficient than any automaker had ever attempted. Musk compared the sophistication of this future Model 3 factory to a giant starship (an "alien dreadnought"), saying that the production line's robots would move so quickly that air resistance would have to be taken into consideration in their design.
Tesla included this photo of the Model 3's automated two-level assembly line in its fourth-quarter 2017 shareholder letter. Image source: Tesla, Inc.
As late as the second quarter of 2017, Tesla was still confidently predicting that it would be producing 5,000 Model 3s a week by the end of the year, and would hit 10,000 per week at some point in 2018 -- a production rate seen only at a few of the world's busiest auto factories.
But as Tesla began to ramp up Model 3 production, it hit a series of snags. It walked back its production guidance, saying in its fourth-quarter shareholder letter that it expected a production rate of 2,500 per week by the end of the first quarter, and 5,000 per week by the end of the second quarter.
As of right now at least, it looks as if Tesla fell well short of even that walked-back guidance. Bloombergestimatesthat the Model 3 production rate was just shy of 1100 per week as of the end of March. Even if it turns out that Tesla worked around the clock to break 2,000 in the very last week of the quarter, it has been apparent that its output of Model 3s wasn't anywhere near its guidance for most of the first quarter.
That's a problem. But it's not the only problem.
If Tesla was just running behind its predicted ramp-up schedule, that would be one thing. But there's another issue: The Model 3s that have been coming out of Tesla's California factory have been plagued with problems. Issues like visibly misaligned body panels and trim pieces, glass that is prone to cracking, and mysterious squeaks and rattles, among others, seem to be common.
As Isaid over a year ago, consistent quality problems in early Model 3s could put a big dent in consumer demand for the vehicle. There are some signs that that may be starting to happen. But Tesla may have an even bigger problem right now.
Influential auto analyst Max Warburton, of the investment firm Sanford C. Bernstein, worked for an organization that benchmarked auto-plant efficiency before becoming an analyst, and thus has a deep understanding of how cars are made. Warburton said in a note that these defects may be much more than teething troubles with a brand-new assembly line They may be a sign of a flaw in Tesla's entire approach to building the Model 3, specifically its attempt to automate final assembly.
Tesla's approach to automation rings alarm bells. If we look at the history of the auto industry, we can see that attempts to automate final assembly haven't worked. Many [automakers] have tried it in the past -- such as Fiat, VW and GM. They have all failed,often spectacularly. [Emphasis added.]
The key problem, as Warburton explains, is that robots don't recognize their own mistakes. The automated assembly line will power on, building car after car with a misaligned panel or a spot weld in the wrong location -- until the errors start to show up as problems in finished vehicles.
In final assembly, robots can apply torque consistently -- but they don't detect and account for threads that aren't straight, bolts that don't quite fit, fasteners that don't align or seals that have a defect. Humans are really good at this. Have you wondered why Teslas have wind noise problems, squeaks and rattles and bits of trim that fall off? Now you have your answer.
Most automakers automatepartsof their vehicle assembly plants. The processes of stamping sheet metal, painting, and spot-welding are amenable to automation -- and in most modern auto factories, those things are largely automated.
But in those same plants, including plants that build the highest-quality mass-produced vehicles in the world, final assembly is done by humans. That's not science-fiction cool, but it's what works.
If Warburton is correct, Tesla has a big problem.
It has spent a fortune to build the Model 3's super-automated assembly line at its Fremont factory, roughly double what a mainstream automaker would have spent to scale up to produce 5,000 vehicles a week.
If that line can't be made to work,Tesla will have to tear it out and start over -- if it can find the time, the money, and the humility to do so.
It's possible that the time and money can be found, although the stock price will likely take a big hit if Model 3 production is set back by months. Finding the humility may be a larger challenge.
I know that sounds like a snarky joke, but consider: What happens to Tesla's story if the idea of a transformative manufacturing breakthrough has to be thrown out? What happens to Tesla's story if the only way to fix the Model 3's production line is to tear it out and replace it with a process to build the Model 3 the same way the "legacy" automakers would?
If Tesla becomes just another automaker, what kind of valuation will it deserve?
The answer may turn out to be "one like GM's." If so, look out below.
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John Rosevearowns shares of General Motors. The Motley Fool owns shares of and recommends Tesla. The Motley Fool has adisclosure policy. || 3 Reasons Intel Corp. Should Shut Down Its Factories: In light of chip giant Intel 's (NASDAQ: INTC) prolonged struggle to bring its 10-nanometer chip manufacturing technology into volume production , I have grown increasingly concerned about the company's current business model. In the past, when Intel's manufacturing group executed extremely well, the company's in-house chip manufacturing efforts were a genuine asset to the company. Today, however, Intel's manufacturing struggles have not only hurt its competitive positioning with respect to chip manufacturing technology, but those struggles have kept Intel's innovations in chip design from coming to market as well. A wafer of Intel processors. Image source: Intel. Today, I'd like to go over three reasons Intel should stop manufacturing its own chips and outsource production to third parties. 1. Even playing field It seems quite likely that over the next year or two, Intel will go from having manufacturing technology that's at rough parity with what the other contract chip manufacturers are offering to a position that's clearly behind the competition. This development would likely put Intel at a competitive disadvantage to other chip designers that utilize the contract chip manufacturers' latest technology, possibly hurting Intel's gross profit margin and revenue performance in the coming years. If Intel were to start building its chips elsewhere, it could, at a bare minimum, ensure that it isn't operating at a competitive disadvantage to its peers. The playing field with respect to chip manufacturing technology would be leveled, improving Intel's potential competitive positioning in the years ahead. 2. Significant cost reductions Intel spends substantially on research and development to develop new generations of chip manufacturing technologies. That spending is entirely worth it if it yields technologies that give Intel a leg up in the marketplace in either product performance/efficiency or in cost structure. Story continues However, given that the company's internal chip manufacturing teams are executing so poorly that Intel's product competitiveness could soon take a large hit as a result, the money that it spends developing these new technologies, quite frankly, appears to be wasted. Back in 2012, Intel indicated that it spent over $2 billion per year in research and development related to chip manufacturing technology -- a number that has likely only grown over the last six years. If Intel were to completely end development of its technologies internally, I'd estimate that the company would save between $3 billion and $4 billion per year. Now, the trade-off here would be that Intel would have to pay a markup for silicon wafers produced by a third party, potentially meaning a drop in Intel's gross profit margin. However, if Intel's products are much more competitive as a result of having more reliable access to cutting-edge chip manufacturing technology, then Intel could more than make up the difference through improved market share and potentially even higher average selling prices (thanks to more competitive products). 3. Lower risk If Intel were to get rid of its chip manufacturing operations, it would have at least two credible contract chip manufacturers to choose from: Taiwan Semiconductor Manufacturing Company and Samsung . Both companies have been flawlessly delivering new manufacturing technologies to the market on time for years now. By having multiple potential sources for chip production, Intel would be able to hedge its bets -- if one chip manufacturer is having difficulties ramping up a next-generation technology, then Intel would be able to shift its orders to another player. If both third-party contract manufacturers are having issues, then at the very least Intel's competitors will be in the same boat. Moreover, by building its chips at arguably more reliable contract chip manufacturers, Intel's customers may be more confident in the company's future product plans, making them less likely to be on the lookout for alternative suppliers . 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 Intel. The Motley Fool recommends Intel. The Motley Fool has a disclosure policy . || Samsung Is Building ASIC Chips for Halong Mining: Samsung Is Building ASIC Chips for Halong Mining Seoul-based multinational conglomerate Samsung has confirmed that it is providing ASIC chips to mine bitcoin, ether and assorted cryptocurrencies for hardware manufacturer Halong Mining. Prior to entering the mining space, Samsung was producing “high-capacity memory chips” for GPUs, which are predominantly used to handle computer graphics but also possess mining capabilities. Its partnership with Halong is expected to bring heavy competition to the ASIC industry, primarily to China’s Bitmain, which, up to this point, has largely dominated the chip-development arena. Both companies work with Taiwanese giant TSMC, which has seen quarterly revenue increases of $350 to $400 million, thanks to ongoing developments in cryptocurrency. Reports regarding the association between the companies date as far back as January 2018, when it was suggested that Samsung was working with an “unnamed” Chinese mining company. Rumors became a reality on April 10 when online mining rig retailer MyRig posted a picture on its Twitter page of a thin slice of semiconductor material known as a “wafer.” The company wrote that the item was being used in the “fabrication of integrated circuits” and that it had been produced by electronics giant Samsung. Halong Mining has remained relatively quiet regarding its new relationship, though its first miner, the Dragonmint T1, is now available for purchase . The item is believed to stand among the world’s most efficient miners, purportedly beating out Antminer S9 by Bitmain in terms of performance. Slush Pool also confirmed last March that someone in its mining network had mined coins using Halong software and that its overall efficiency could be attributed to an upgrade known as “AsicBoost,” which was developed in 2016 by former CoinTerra CTO Timo Hanke. The technology works by exploiting a portion of Bitcoin’s proof-of-work algorithm by allowing miners to take “shortcuts” to find new blocks. This technology is equally available to multiple mining companies thanks to Halong’s membership with the Blockchain Defensive Patent License (BDPL), which is designed to keep competition levels in the cryptocurrency mining space fair and accurate, but so far, only Halong Mining is known to be using the overt variant of AsicBoost. The DragonMint T1 was produced by BtcDrak , who’s been involved with Halong Mining since it began. The developer also maintains bitcoincore.org and the Bitcoin Core Community Slack. “We started a mining project with the aim to bring much needed competition to the market,” he states. “We want to ‘make SHA256 great again.’” BtcDrak also says that the DragonMint T1 is the most “advanced miner to date,” claiming it is about “30 percent more energy efficient” than the AntMiner S9 and that it could produce a total of “16 tera hashes per second.” Samsung also worked with Hangzhou-based company Ebang last year to develop DW1228 chips for its new bitcoin mining machines the Ebit E9++ and the E10. The chips were slated to boost an E10 hash rate to 18TH/S. The machines were first released in early February and units sold out almost immediately. This article originally appeared on Bitcoin Magazine . View comments || Semiconductor Sell-Off Sparks Elevated Options Activity: This article was originally published onETFTrends.com.
Semiconductor stocks and the related exchange traded funds sold off Thursday after Taiwan Semiconductor (TSM) issued a bearish forecast, including a warning on smartphone demand.
“TSMC, the world's largest contract chipmaker and a major Apple supplier, revised its full-year revenue target to the low end of its earlier forecast,”according to Reuters. “TSMC, also a supplier to Qualcomm and Nvidia Corp, said it expects growth this year of 5 percent for the global semiconductor industry, weaker than an earlier forecast of 5-7 percent.”
The news from Taiwan Semiconductor weighed on chip ETFs, including the VanEck Vectors Semiconductor ETF (SMH) , of which Taiwan Semiconductor is one of the largest holdings. In fact, SMH was eyeing its worst one-day performance since November as it clings to the $100 area.
Related:Can AI Transform the Health Care Sector?
“That perch above the $100 level is notable in its own right, but this region, home to the 160-day moving average, has been especially supportive in recent weeks. It also sits right above SMH's year-to-date breakeven point. And with the exchange-traded fund (ETF) again testing these critical technical levels, options are trading at a rapid pace,” reportsSchaeffer's Investment Research.
Semiconductor ETF Risks
There are some risks to consider with semiconductor stocks and ETFs. For example, President Donald Trump has pushed for restrictions on trade barriers with China, which might pose a threat to the sector. China is a key market for the global semiconductor industry, consuming more than $100 billion worth of semiconductors or roughly one-third of the world population.
“In fact, intraday volume on the chip ETF was last seen at a fresh 52-week high of 169,337 contracts. The majority of these have been puts, which have already tripled their average daily volume. New positions are being opened at the August 95 put, the most popular option today, but it's not clear whether the puts were bought or sold,” according to Schaeffer's.
Related:2 ETFs to Aggressively Play Tech Sector Trends
To be fair, there was also strong call activity in SMH's May 106 calls.
“Worldwide semiconductor revenue is forecast to total $401.4 billion in 2017, an increase of 16.8 percent from 2016,”according to Gartner, Inc. “This will be the first time semiconductor revenue has surpassed $400 billion. The market reached the $300 billion milestone seven years ago, in 2010, and surpassed $200 billion in 2000.”
For more information on the tech segment, visit ourtechnology category.
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[Random Sample of Social Media Buzz (last 60 days)]
Current rate of #KoreanPremium
$BTG: 1.64%
$LSK: 1.22%
$BTC: 1.80%
$XLM: 0.92%
$XRP: 1.54%
$BCC: 1.49%
Binance : https://www.binance.com/?ref=20968792
Detail : https://gimchipremium.appspot.com/ || BTCショート入れて寝るだけでいつかボロ儲けやで（保証金に余裕を十分もつこと） || Valores | dolar R$3.2995 | BITCOIN(MCDTBC) R$24368.00000000 | BITCOIN(BLCHAIN) R$22697.52 | LITECOIN(MCDTBC) R$439.62076000 || Social Profimatic Review - Legit BitCoin/LiteCoin Opportunity or Fraud? - http://tinyurl.com/yb44o3j2 #ad || 中国のアリペイのように
Bitcoin決済ができる会社が増えています。
HISや格安航空会社など || Gundlach: "2017 Was Easy. 2018 Is Payback Time" >>@ http://thecryptokeepers.com/gundlach-2017-was-easy-2018-is-payback-time/ … || #Bitcoin #BTC #Altcoin #Crypto $Bitcoin $BTC $Altcoin $Cryptopic.twitter.com/SirJrIBCsw || College students are secretly mining bitcoin in their dorms where electricity is free: ‘On room check days, I have to put a blanket over it’ https://www.marketwatch.com/story/college-students-are-secretly-mining-bitcoin-in-their-dorms-on-room-check-days-i-have-to-put-a-blanket-over-it-2018-03-29 … || Cotizaciones al 03/04/2018 05:00 PM
Bitcoin (BTC): 40.846.221
Ethereum (ETH): 2.274.222
Litecoin (LTC): 730.616
Monero (XMR): 1.033.254
Dash (DASH): 1.856.361
ZCash (ZEC): 1.126.699 || ビットコイン人気ナンバー3
【1位】コインチェック
https://coincheck.com/?c=bfNXkJYgb-E
【2位】ビットフライヤー
https://bitflyer.jp?bf=1j1mizsobitflyer.jp/?bf=1j1mizso
【3位】zaif（ザイフ）
https://zaif.jp/?ac=gck05rm4ms pic.twitter.com/i4ev9t3kvf || Zoom out and see the big picture. Every hour we are getting closer and closer. One day it’s going to pop just like this archive Bitcoin chart pic.twitter.com/kESOsaGBiT
|
Trend: down || Prices: 8418.99, 8041.78, 7557.82, 7587.34, 7480.14, 7355.88, 7368.22, 7135.99, 7472.59, 7406.52
|
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 2018-01-04]
BTC Price: 15599.20, BTC RSI: 54.23
Gold Price: 1319.40, Gold RSI: 73.84
Oil Price: 62.01, Oil RSI: 74.35
[Random Sample of News (last 60 days)]
Futures Launch Puts Record Bitcoin Highs Back in Play: Having landed on Wall Street with a bang, bitcoin is solidly bid and looks set to scale new heights.
As per CoinDesk'sBitcoin Price Index, the world's largest cryptocurrency by market capitalization rose to a high of $16,773.04 at 08:00 UTC today, and was last seen trading at $16,500 levels. Going byCoinMarketCapdata, bitcoin (BTC) has appreciated 16 percent in the last 24 hours.
It hasn't all been smooth sailing this week, however. Following all-time highs on Dec. 8, pricesfell to $13,000yesterday before recovering to $15,700 at the time of bitcoin futures launch on the CBOE.
Approximately four hours after the debut, the BTC contract on the CBOE (which expires in January) spiked 20 percent and triggered two trading halts. Further, a surge of traffic to theCBOE websitecaused delays and outages, but failed to deter the cryptocurrency from regaining altitude.
With doors now open for mainstream investors, BTC is showing no signs of slowing down. The price chart analysis indicates the path of least resistance is on the higher side.
The above chart shows:
• The previous three daily candles (as per UTC) have long tails (big gap between the intraday low and close), indicating strong dip demand.
• The bullish follow-through seen today validates the bullish case put forward by the long-tailed candles.
• Also, a close today (as per UTC) above $16,500 (Dec. 9 high) would negate the bull market exhaustion as indicated by yesterday's doji candle.
• The rising lows pattern is intact, as highlighted by the ascending trend line.
• Also, a bullish flag breakout (dotted lines) has been confirmed. This is a continuation pattern – i.e. it indicates the rally from Nov. 29 lows below $8,600 has resumed. As per the measured height method, the bull flag breakout has opened up the doors for a possible rally to as high as $20,000.
• Stochastic does show overbought conditions, but the relative strength index (RSI) shows plenty room for a rally in bitcoin.
• Bitcoin is likely to break above $17,364.56 (record highas per Bitcoin Price Index) and move towards $20,000.
• Any pullback is likely to be capped around $14,000, courtesy of the upward sloping 10-day moving average.
• Only a sideways action for the next couple of days, followed by a close (as per UTC) below $10,000 would signal that a top has been made.
Straight roadimage via Shutterstock
• More to Come? Bitcoin Sets Record High Near $18k
• Survey: Most Bitcoin Investors Expect Even Fatter Returns in 2018
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• Up 50%: Ripple's XRP Sets Price Record Amid Overstretched Rally || Flat Sales Can't Hold Back Monsanto's Profit Growth: Agriculture is a key industry across the globe, and Monsanto (NYSE: MON) has developed a worldwide presence for its seeds, genomic traits, and agricultural productivity products. For more than a year and a half, Monsanto has been waiting to see whether an acquisition proposal from Bayer would gain the necessary approvals to move forward, and the company is still optimistic about its prospects. Yet the uncertainty has distracted investors' attention to some extent from the fundamentals of Monsanto's business. Coming into Thursday's fiscal first-quarter report, Monsanto investors were looking for solid top-line gains that would lead to a doubling in earnings per share for the company. Monsanto's results weren't quite that good, with lagging sales that were essentially flat compared to the previous year's quarter. Yet the company expressed several reasons why 2018 could look more favorable. Let's take a closer look at Monsanto and what its latest results mean for the ag giant going forward. Two people in a cornfield looking at a corn plant. Image source: Monsanto. Corn wilts, but soybeans and fertilizers grow Monsanto's fiscal first-quarter results weren't everything that the company had hoped for. Revenue inched higher by just a fraction of a percentage point to $2.66 billion, falling well short of the 4% growth rate that most investors were expecting to see. Net income climbed to $169 million, and after making allowances for extraordinary items, adjusted earnings of $0.41 per share were nearly doubled from year-earlier levels. The figure was still $0.01 shy of the consensus forecast among those following the stock. The big problem for Monsanto's top line came generally from its seeds and genomics business, and within that segment, corn was the big drag on performance. Corn seed and trait revenue plunged 17% to $787 million, more than offsetting a 20% rise in soybean seed and trait sales. Performance elsewhere was mixed, with cotton sales inching higher but sales of seed and traits for vegetable and other crops falling. Monsanto said that lower volumes, especially in the U.S., held back the corn market, but the company expects to recover some of the shortfall later in the fiscal year. Meanwhile, it highlighted the soybean-related gains, with moves to the new Intacta RR2 Pro line in South America accelerating nicely. From a profitability standpoint, the segment did well, with pre-tax profit climbing by more than half for seeds and genomics. Story continues A recovery in the agricultural productivity business also helped Monsanto. Revenue climbed more than 10% to $888 million, and gross profit jumped by more than half. Price improvements helped the company nearly triple its pre-tax profit, and expectations are for sales of XtendiMax herbicides to rise in line with the continued adoption of soybean seed and traits during the period. CEO Hugh Grant kept investor attention focused on business at hand. "Even with the Bayer combination on the horizon," Grant said, "our teams have maintained their focus on the business and our customers." The CEO also noted the success of its most recent technologies along with continuing efforts to innovate. What's ahead for Monsanto? Most of what Monsanto talked about regarding the future was tied to its research and development pipeline. In a separate release, the company pointed to its extensive pipeline of projects aimed to help agricultural professionals handle threats to their crops. Some of the most important projects in Monsanto's eyes include protecting cotton from lygus, thrips, and fleahopper bugs; saving corn from worms and corn borers; NemaStrike technology to fight against parasitic nematodes; and new formulations and combinations of existing weed killers. Monsanto also is using artificial intelligence to identify diseases more effectively, allowing farmers to take appropriate steps more quickly to combat problems before they become more difficult to address. Other efforts will help boost yields, make farmers more efficient with resources, and make better use of data. Still, investors are largely flying blind with respect to the immediate future for Monsanto. The company expects pre-tax income to grow in fiscal 2018, but it has still chosen not to offer financial guidance due to the pending Bayer merger. Tax reform in the U.S. should also help Monsanto's cost structure beginning in fiscal 2019, and the company is still looking at whether more immediate positive impacts could occur. Monsanto investors seemed to take the report in stride, and the stock didn't make any major moves in pre-market trading following the announcement. Until more news comes out about the Bayer merger, Monsanto investors will have to wait and see whether growth plans will get a boost from being part of a larger institution going forward. 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 . || Why Kohl's Inc. Stock Popped Today: Shares ofKohl's Inc.(NYSE: KSS)were moving higher today as the department store chain rode a bullish wave among retail stocks as the holiday shopping season came to a roaring end over Christmas weekend. In what's reportedly been the best holiday season in years, many retail stocks have been surging since Black Friday, and it's not a surprise to find Kohl's among the winners since the national chain is one of the biggest retailers in the country.
Kohl's(NYSE: KSS)stock was up 4.9% as of 11:04 a.m. EST Monday and has gained 25% over the past month.
Image source: Kohl's.
Much of the department store sector was higher this morning;J.C. Penneyjumped more than 8%,Macy'swas up nearly as much as Kohl's, and even theSPDR S&P Retail ETFhad gained 1.2%. A combination of a strong economy, a stock market at an all-time high, low unemployment, low gas prices, a long holiday season with an early Thanksgiving, and Christmas falling on Monday, leaving a full weekend for last-minute holiday shopping, seemed to be just that cure that brick-and-mortar chains needed.
According to Customer Growth Partners, a retail research firm, total U.S. retail sales for the holiday season reached $598 million, up from $565 million a year ago, or a 6% increase, much stronger than retail sales growth has been throughout the year.
Kohl's is in a better position than many of its peers -- the company has mostly resisted closing stores and has been able to stabilize comparable sales and earnings per share, while other retailers have seen declines. Kohl's also made thecontroversial moveto partner withAmazonby accepting returns and selling Amazon products in a handful of stores, but the company hasn't yet revealed the results of that pilot program.
With shares surging during the holiday season, investors are clearly expecting strong results. We'll learn more when the company reports sales for November and December in early January.
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John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors.Jeremy Bowmanowns shares of J.C. Penney. The Motley Fool owns shares of and recommends Amazon. The Motley Fool has adisclosure policy. || Why I'm Buying Texas Instruments Stock: Texas Instruments (NASDAQ: TXN) won me over. After putting the company on my watch list last month, I'm now buying shares of the company. The first detail that separated Texas Instruments from others in the chipmaking space was the company's strong shareholder focus. Management has a clear policy of returning all free cash flow (cash from operations minus capital expenditures) back to shareholders in the form of dividends and share repurchases. On its investor relations site, the company notes it has retired 43% of its shares outstanding since 2004, the year Rich Templeton assumed the CEO role, and has increased its dividend for 14 consecutive years, most recently announcing a massive 24% dividend increase . This has been a successful approach for Texas Instruments. In the last five years, Texas Instruments has provided investors a total return three times the S&P 500's return. TXN Chart TXN data by YCharts Texas Instruments is growing in all the right places I feel Texas instruments will be able to continue to grow its free cash flow. In the nine months ended Sept. 30, Texas Instruments increased revenue 12.6% on a year-over-year basis. Even better for the company, the fastest-growing division (17.9%) was analog, which has a higher operating profit margin -- 46% -- than embedded processing and other, as both have 32% operating margins. Investor looking over financial documents Image Source: Getty Images Look for Texas Instruments' analog division to become more profitable as the company increases its 300-millimeter chip output. Versus 200-milimeter, the chip cost is 40% less, which will lead to higher operating margins. Last year the company produced $4.1 billion in cash flow and has grown that figure by 7% annually over the last five years. The combination of margin improvement and revenue increases will lead to further free-cash-flow growth. Concerns look to be addressed One thing I'm monitoring closely is the company's commitment to growing and reinvesting in its operations. Managers can be too shareholder-friendly at the expense of suppliers, consumers, and employees. Things look great with the latter; Templeton was rated the 51st-highest-rated CEO in Glassdoor's 2017 Employees Choice survey, finishing two spots ahead of Apple CEO Tim Cook. Story continues The company is customer-friendly, boasting a large sales staff. Additionally, switching costs and fear of new partnerships make for sticky customers in analog and embedded processing applications. Days payables outstanding, a proxy for supplier relationships, has decreased over the last five years, which points to healthy relationships with vendors and a reputable business. Overall, it appears the company is doing a good job managing various stakeholders. A favorable long-term outlook Chip demand will continue to be strong as driver assistance/self-driving technologies come online and the Internet of Things demands more processing connections. Texas Instruments may not be on the forefront of sexy end-markets like artificial intelligence or e-sports, but it will benefit from secular tailwinds nonetheless. However, unlike AI chipmakers Nvidia and AMD that trade at forward price-to-earnings ratios of 40 times and 29 times, respectively, Texas Instruments trades in line with the greater S&P 500 at a forward P/E ratio of 22 times. Texas Instruments is a shareholder-friendly company with improving financials and long-term tailwinds. It meets all my requirements for a long-term investment, and I plan to buy the company as soon as trading rules allow . 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 Jamal Carnette, CFA owns shares of Apple. The Motley Fool owns shares of and recommends Apple and Nvidia. 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 . || Facebook was so successful at forcing Messenger on you that it’s doing it again with Instagram: It’s as if having three Instagram apps on your phone wasn’t already enough. Instagram is testing a new standalone messaging app, called Direct, The Verge reported today (Dec. 7). It’ll pull out the direct-messaging part of the main app into a separate app, which will just let you send photos, videos, or text messages to your Instagram contacts. The murky relationship between the bitcoin price and “tether” tokens is raising suspicions This test sounds a lot like what Facebook did with Messenger over the last few years . It forced anyone that wanted to message someone on Facebook to download a separate app. Messenger now has well over 1 billion monthly users, and Facebook has started to test injecting ads into the chat app, which could become a significant source of revenue, assuming the ads don’t drive all of its users crazy. Instagram confirmed it was testing a new app to Quartz. “We want Instagram to be a place for all of your moments, and private sharing with close friends is a big part of that. To make it easier and more fun for people to connect in this way, we are beginning to test Direct—a camera-first app that connects seamlessly back to Instagram,” a representative added. By separating Direct into its own app, Facebook can potentially pull off the same coup for Instagram, creating a new channel to shove advertising in front of users’ eyeballs. It’s also the culmination of its strategy of completely ripping off Snapchat after the company snubbed a $3 billion takeover offer in 2013. Facebook has failed to attract younger users to its main apps, so it’s attempted to either copy or buy apps that they are using, like Snapchat, or TBH—an app that teens use to anonymously compliment each other—that Facebook purchased earlier this year . Over the last year, Facebook has injected just about every feature that makes Snapchat special into Instagram. It’s introduced daily “Stories”—short video or photo posts that users can broadcast to their followers that disappear after 24 hours—as well as filters, lenses, and stickers. It’s boasting that it has millions more users posting on Stories than Snapchat has at all. According to The Verge, the new Direct app mirrors the structure and purpose of Snapchat, minus the content from publishers and brands. Story continues It’s unclear if this is the final nail in Snapchat’s coffin, which has struggled greatly as a public company since its IPO earlier this year, but one thing is clear: Facebook, should it choose to, has found yet another place to show us ads for venture-backed toothbrushes , millennial erectile-dysfunction pills , and viscous nutrient goop . Sign up for the Quartz Daily Brief , our free daily newsletter with the world’s most important and interesting news. More stories from Quartz: AI is now so complex its creators can’t trust why it makes decisions Bitcoin is going bananas and exchanges are struggling to keep up || How to Buy Cardano (ADA): The Complete Guide: Cardano: Intelligent Design What is Cardano? What is ADA? Why did the Cardano (ADA) Price Surge? How to Buy ADA (Cardano)? – A Step-by-Step Guide Is Cardano the Big Next Thing? Cardano is More than a Cryptocurrency Cardano is Testing a Philosophy Cardano Anticipates Problems Cardano vs. Ethereum – Why Cardano is Better than Ethereum? The Daedalus Wallet Conclusion Cardano: Intelligent Design Economic history has countless examples of ideas that were carried to their full potential by the second or third attempt at the concept. Sometimes the newcomer causes the initial leader to be all but forgotten like the internal combustion engine did to steam power. The leadership at Cardano seems to have a sense of this economic history. What is Cardano? What is ADA? Cardano is a blockchain environment. This means it is a public network available to anyone who wants to create a blockchain. ADA is the cryptocurrency that is used to pay the individuals who contribute to the Cardano environment by storing the blockchains and performing other functions. The success of one is clearly related to the success of the other. If Cardano becomes a popular place for new blockchain developers, the demand for the ADA cryptocurrency will increase. Increasing demand with a relatively fixed supply increases the market price. If the price of ADA increases for any reason, this should attract more developers to the Cardano environment. There are reasons to feel confident that both parts of this system are contributing to the long-term success and value of the other part. Why did the Cardano (ADA) Price Surge? ADA had a very quiet and unassuming entry into the cryptocurrency market with a long-running Initial Coin Offering (ICO) that ended in January 2017. It maintained a low price for most of the year, getting a boost from announcements by the team at Cardano in late November and then a second, stronger surge in value in late December. Cardano Daily Chart This remarkable increase may be due to nothing more than the listing of ADA on more cryptocurrency trading platforms. It may be caused by investors moving out of Bitcoin and into other cryptocurrencies that have caught their attention. If this is the case it is a simply a delayed continuation of the increase in late November. How to Buy ADA (Cardano)? – A Step-by-Step Guide The entire cryptocurrency market sometimes can seem like it is in its infancy at times. This is the case with the process of buying ADA. The first step is to create a Daedalus Wallet . It will also be necessary to establish an account at a cryptocurrency exchange. Story continues Once these two accounts are established, the basic process is to buy or transfer Bitcoin to the exchange, exchange the Bitcoin for ADA, and then transfer the ADA cryptocurrency back to the Daedalus Wallet. It is extremely important not to leave any cryptocurrencies in the account at the exchange. These have been shown to be vulnerable to theft. Step 1 – Create a Daedalus Wallet Download the wallet by selecting the type of wallet that works on your computer (Windows or Mac). A Linux wallet is promised for the future. After downloading the correct wallet, install it on your computer by running the program. Select the appropriate language and “continue”. Read the terms of use, click the box that indicates you have done this and “continue”. Decide if you want to send logs to Cardano about the use of your wallet by selecting the appropriate box. Be patient while your wallet is connected to the Cardano blockchain. This may take ½ hour or more. Once the connection is established, choose “Create a new wallet” and give the wallet a name you will remember. Select “Activate to create password”, then enter a password that meets the specified criteria. Re-enter the password in the second box and “create personal wallet”. Confirm that no one is watching your screen and you will be given a 12-word passphrase. Write this down and keep it in a very secure place, then select “Yes, I have written it down.” Recreate the passphrase, and then read the two warnings. Check that you understand them and “confirm”. Your wallet is now open. Click “receive” and you will be provided with your wallet’s address. As with the passphrase, write this down and keep it in a safe place. Step 2 – Purchase Bitcoin or Ethereum You now need to buy some Bitcoin or Ethereum to exchange for ADA (we recommend buying Ethereum as the process time is faster). At the time of this writing, no exchange supports buying ADA for national fiat currency, but the market is extremely fluid, and this may have changed. If so, it will still be necessary to establish an account at that exchange. There are many exchanges that allow the purchase of Bitcoin or Ethereum for national currencies. They offer a variety of features, including ease of use and security. In addition, the cost of purchasing Bitcoin or Ethereum changes frequently, so it is impossible to identify a “best” option for this step. Coinbase , CEX.IO and Coinmama are popular options, and this guide will describe the process of creating an account to purchase Bitcoin but it’s the same as Ethereum. If you already own Bitcoin or Ether, this step is unnecessary. You can move forward to the next section. After using the link to go to Coinbase , CEX.IO or Coinmama , select “Sign up” and enter your personal information. Those exchanges treat client identification very seriously, so be sure to verify your account by supplying a phone number, uploading an image of your photo ID and verifying a credit/debit card or bank account. After completing these steps, select “Buy/Sell” at the top menu. Select “Bitcoin” and enter either the number of coins or the amount you want to spend. Bitcoin can be purchased in fractional units and the system will do the math for set amounts of local currency. Verify the information you have entered and “Buy”, and then “Confirm buy.” Step 3 – Exchange Bitcoin for ADA Now go to an exchange such as Binance to exchange your Bitcoin for ADA. First, enter Binance and open an account, verify the account in the email you received. Then, you need to fund your account with BTC or ETH that you have purchased before at one of the exchanges above. In order to do that, click the “Funds” tab and search for BTC/ETH, choose “deposit”, copy the BTC or ETH deposit address and paste it to the exchange that you to withdraw the money from. The process might take up to one hour (vary according to different exchanges). Now, after completing these steps, you have Bitcoin or Ethereum in your Binance account. Click the “exchanges” and search for ADA/BTC or ETH/ADA, enter the amount and click “Buy ADA”. Alternatively, Coinswitch is an aggregator, which means that it surveys the market for you and returns suggestions on the best exchange rates available. In addition, this site automatically transfers your newly acquired ADA coins to your Daedalus Wallet, eliminating the dangerous possibility of leaving your coins on the exchange. Choose “Register” in the upper right corner of the Coinswitch website, then enter your email and a new password. While you are waiting for the email, complete the personal information, including the phone verification. After you have received the verification email, click on the embedded link, re-enter your email address and password. On the site, select Bitcoin on the left, entering the number of coins you have and the ADA on the right. Coinswitch will return with a recommended exchange as well as a listing of other exchanges. Make your selection and you will be prompted for the address of your Daedalus Wallet. Enter that information and you will be given an address to which you should send your Bitcoin. Copy that address and return to the site or wallet that has your Bitcoin, such as Coinbase . Enter the address you were given by the Coinswitch site and transfer the Bitcoin to that address. Once the transfer is complete the selected exchange will initiate the conversion to ADA and transfer them to your new Daedalus Wallet. Return to that site and verify the coins have been transferred. You may need to update or enter additional information to view the balance. Cardano Opportunities The process currently required to purchase ADA demonstrates the opportunity Cardano sees in the cryptocurrency marketplace. It is still in a technical infancy, with involved steps for every transaction. In many ways, it is similar to the early automotive industry before the invention of the electric starter and other modern conveniences. Cardano hopes to advance the industry in much the same way. For example, they plan on providing the Daedalus Wallet with the capability of storing multiple cryptocurrencies instead of just ADA. They also are the process of creating user-friendly addresses for transferring cryptocurrencies. These are just two of the projects underway at the company. Cardano Challenges The number of projects undertaken and their ambitious scope is only two of the challenges Cardano faces in establishing itself as the preeminent blockchain in the market. In addition, it must overcome other blockchain environments that have become established in this sector while Cardano was in development. The academics working on the projects have impressive backgrounds and credentials, but Cardano must harness this intellectual capacity in a productive direction. The long development time suggests there may be problems in this area. Furthermore, the company must bridge the gap between the philosophical stance of blockchain purists and the practical concerns with producing measurable results. Suggested Articles Understand Bitcoin Futures: A Step by Step Guide How to Buy Bitcoin? How Blockchain Can Change Our Life, Economy and the World What is IOTA and How Can you Buy it? Is Cardano the Big Next Thing? Investors buying ADA are undoubtedly hoping they now own “the next Bitcoin”. They have reasons for this optimism beyond the price surge. The management team at Cardano is incredibly experienced in blockchain technology , and they are attracting some of the brightest minds in the academic world . In addition, they are taking a thoughtful approach to developing what they hope to be the blockchain environment of the future. However, “the future” for cryptocurrency investors may mean a much shorter period of time. It is uncertain if the buyers who drove up the price of ADA did research into the fundamental value of the cryptocurrency or if they just saw the increase in November and created the increase in December. This is the nature of financial markets as they develop. Value and speculation combine in different measures at different times to impact market price. Cardano is More than a Cryptocurrency Keep in mind that Cardano has a long-term value proposition that is dependent on accomplishing some very ambitious goals. While the organization has many of the hallmarks of a successful enterprise, they have little to show so far in terms of actual accomplishments. In this sense, any investment in ADA could be considered speculative because there is no assurance that the company will achieve its goals. Before getting into the specifics of what they hope to do, it is important to discuss their philosophical basis. This is firmly rooted in the concept of decentralized control by the entire community. Cardano states clearly that their control and decision-making authority is intended to be temporary. Their vision includes developing mechanisms by which all decisions are made by those who use and support the blockchain. Cardano is Testing a Philosophy Decentralized control of the blockchain environment is a core premise of the blockchain concept. Some critics of Ripple contend that it is not a blockchain application because it lacks this component. Satoshi Nakamoto, the pseudonym for the founder of Bitcoin, advocated for a decision-making process that includes the entire community as a way to eliminate governmental decisions that benefitted one class of society rather than the common good. Bitcoin was an attempt to implement this philosophy over the Internet, but it ran into problems that could not be addressed by the initial rules of the blockchain. Nakamoto’s solution to these problems was to allow the blockchain to split into two in what is referred to as a “hard fork”. This process has created Bitcoin Cash and other cryptocurrencies under the Bitcoin “name brand”. Cardano Anticipates Problems The management team at Cardano includes individuals who experienced the hard fork at Ethereum, another blockchain environment. This split in the blockchain was caused by an inappropriate application of the rules which most people would characterize as a theft. The individuals who felt that the blockchain should not be changed in spite of this unforeseen circumstance are now creating Cardano. They’ve learned from the experience. The structure of Cardano includes elements that provide for changes without splitting the blockchain. This may prove to create a more stable and manageable blockchain. If so, the Cardano blockchain may be able to gain greater acceptance and use than other blockchains already in existence. Cardano – The Exchange of Smart Contracts One of the other areas where Cardano is trying to make progress is smart contracts. These are self-executing agreements between two parties that have the potential to revolutionize transactions. Proponents of smart contracts believe that they will eliminate the need for lawyers, accountants and other professionals who oversee the executions of contractual agreements. Smart contracts are written into the blockchain and cannot be changed without altering the blockchain. Once the conditions of the smart contract are satisfied the contract is automatically executed. The Bitcoin blockchain includes only the most basic types of smart contracts that mimic the use of other currencies. Cardano wants to improve on that functionality. Cardano vs. Ethereum – Why Cardano is Better than Ethereum? More flexible smart contracts are one of the features of the Ethereum blockchain environment. Ethereum is also a public blockchain that can be used by developers of other blockchains. It offers smart contracts that can mimic any transaction that can be done in the physical world. These are referred to as Turing-complete contracts. Although some commentators question the expense of maintaining this level of functionality on a public blockchain, Cardano seeks to offer something even better. They represent their programming as better able to tolerate errors in coding. They have also promised to make segments of coding available to anyone to make Cardano smart contracts easier to use. The Daedalus Wallet This sums up one the main value propositions for Cardano. They want to make blockchain easier for everyone to use. This is a very common, and commonly successful, for late entrants into a developing field. The cryptocurrency wallet from Cardano is a great example of this idea. It is necessary to have a Daedalus wallet to buy or use ADA. It can be downloaded from their website free of charge and promises to add features that will make a universal wallet suitable for any cryptocurrency use. One of the upcoming features touted is protection against quantum computer theft, even though quantum computers are still in their infancy. Conclusion Cardano certainly has the intellectual capabilities necessary to tackle the next generation of blockchain issues. It also has the experienced leadership that is required to manage such a monumental undertaking. There can be little doubt that the ideas it is pursuing would be well received by blockchain users. The risk is that development time will stretch out past the patience of investors and that the final delivered product will not be able to differentiate itself successfully from other options already in operation. Given these factors, those buying ADA may want to prepare themselves for a long wait before they realize the full potential value of the cryptocurrency. This article was originally posted on FX Empire More From FXEMPIRE: What’s in Store for U.S Households in 2018? S&P 500 forecast for the week of January 2, 2018, Technical Analysis How to Buy Cardano (ADA): The Complete Guide Crude Oil Price forecast for the week of January 2, 2018, Technical Analysis U.S. Stocks Hit Hard by Late Session Selling USD/CAD forecast for the week of January 2, 2018, Technical Analysis View comments || The Social Security Administration May Be Steering You Wrong: Cost-cutting can be great, but it can also lead to undesired consequences. Consider, for example, the Social Security Administration (SSA), which has undergone multiple years of budget cuts and faces further cuts. While the major agency continues to serve tens of millions of retired and disabled Americans and many survivors, its recent performance leaves room for improvement. Specifically, a study by the Government Accountability Office (GAO) found that many retirees are not being given some critical information that would help them get the most out of the program. older man looking astonished, with mouth open Image source: Getty Images. Social Security in a nutshell Social Security pays close to 62 million Americans, with benefits totaling $955 billion in 2017. About 42 million recipients are retirees collecting retirement benefits. Others are dependents of those retirees, disabled workers and their dependents, and survivors, including children. Not only is Social Security a massive program, it also is a critical one for most Americans. The program was designed to replace about 40% of pre-retirement income for those who earn an average income. But the reality today is that a majority of elderly beneficiaries get 50% or more of their income from Social Security, while 23% of married ones and 43% of unmarried ones get fully 90% or more of their income from it, according to the SSA. Just how much are they getting? Well, what you get out of Social Security largely depends on what you paid into it. Remember that workers get 6.2% of their wages withheld as a Social Security tax, with their employers coughing up a corresponding 6.2%, for a total 12.4% tax on earnings. (The self-employed have to pay both the employer and employee portions, forking over the entire 12.4% on their own.) The average monthly retirement benefit was recently $1,375, which totals $16,500 per year. If your earnings have been above average, though, you'll collect more than that -- up to the maximum monthly Social Security benefit for those retiring at their full retirement age, which was recently $2,639. (That's about $32,000 for the whole year.) Story continues hand that has written you should know this, in block letters Image source: Getty Images. What's the problem? Budget cuts to Social Security have led the SSA to trim its workforce, close more than 60 field offices, and reduce the hours that representatives are available to help the public. This has resulted in longer waits in person, on the phone, or online, when people seek help or information. The SSA has tried to offset the reductions by beefing up its online presence and offering more services online. Given the fact that Social Security benefits are so important to most retirees, and that many people don't fully understand their options, it's vital that the SSA give people the information they need to make the best decisions for themselves. But a 2016 GAO report found that when retirees and pre-retirees consult the SSA, they're often not given some key information that could help them get more out of the program. For example, "... in 8 of 26 claims interviews in which the claimant could have received higher benefits by delaying a claim, the claims specialist did not discuss the advantages and disadvantages of delay." That's a problem. While most retirees would do well to start collecting benefits at their full retirement age or even at age 62, some might be best served by delaying collecting up to age 70, in order to get bigger checks. Starting to collect early is often smart, though, as you'll get many more checks, despite their being smaller. If you expect to live a longer-than-average life, however, and you can afford to delay starting to collect, that can be the wise choice. Many people seeking information or guidance from the SSA are also not briefed on basics of how their benefits are calculated. For example, benefits are based on earnings in the 35 years in which a worker earned the most. If you only work 31 years, four years of zero earnings will be entered into the formula, lowering your benefits. What to do The situation isn't good, but there are some smart things you can do to deal with it. For starters, learn more about how to maximize your Social Security benefits on your own. Don't be afraid to consult the Social Security Administration, too. Some advise that it's best to go in person to get more information, and that if the front-line person you meet with doesn't seem to be serving you sufficiently well, ask to see a "Tier 2" representative, who will be even more informed. You might also keep abreast of plans in Washington to change Social Security, whether it's Congress looking to shrink its budget further to reduce benefits, or to strengthen the program and possibly increase benefits. Contact your representatives to let them know what you'd like them to do regarding Social Security. 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 . || Merrill Lynch Bans Trading in Bitcoin-Related Products: Bank of America Corp’s (NYSE: BAC ) Merrill Lynch is no longer allowing trading in products connected to bitcoin. Merrill Lynch Bans Trading in Bitcoin-Related Products Source: Shutterstock News of the ban comes from a leaked memo that was sent out to advisors last month. The ban doesn’t allow financial advisors or clients from trading in investments connected to bitcoin. This ban includes the Bitcoin Investment Trust and bitcoin futures. Merrill Lynch’s reason for the ban is that it has concerns about the “suitability and eligibility standards” of the products. The new policy went into place on Dec. 8, which was just two days before bitcoin futures started trading on the CBOE. InvestorPlace - Stock Market News, Stock Advice & Trading Tips There is an exception to the rule about bitcoin trading at Merrill Lynch. Brokerage accounts that are already trading in bitcoin investments can continue to do so. However, those that are present in advisory accounts must be sold, reports CoinDesk . Merrill Lynch isn’t the only one that has concerns about bitcoin and other virtual currencies. There have been talk that the bitcoin bubble popping could lead to a possible recession . 10 Hot IPOs That You Could Buy in 2018 The SEC has also been warning investors about bitcoin and the possible unique dangers that it can present to those holding it. This includes an increased chance of being targeted by scammers, the high volatility of the cryptocurrency and more. This warning also extends to the other various virtual currencies that are gaining popularity alongside bitcoin. BAC stock was up 1% as of Thursday afternoon. More From InvestorPlace 7 Emerging Market ETFs to Buy for Big Gains in 2018 9 More Stocks Still Growing Faster Than Amazon 8 ETFs to Study for 2018 As of this writing, William White did not hold a position in any of the aforementioned securities. Compare Brokers The post Merrill Lynch Bans Trading in Bitcoin-Related Products appeared first on InvestorPlace . || Reason To Be Bullish On Gold Royalty Companies And Bitcoin: Some of you reading this might already be familiar with the “Parable of the Talents,” but it’s worth a brief retelling.
The story, which appears in the gospels of Matthew and Mark, involves a master who entrusts three servants with some of his “talents,” or gold coins, while he’s away on business. Two of the servants take a risk by putting the money to work and end up doubling their master’s wealth. The third servant, however, buries his share to “keep it safe” and so doesn’t generate any returns. (Indeed it likelylosesvalue because of inflation.)
When the master returns, he’s so pleased at how the first two servants grew his wealth that he puts them in charge of “many things” and invites them to share in his own success.
The third servant, though, he calls “wicked and lazy” and says he might as well have deposited the money in a bank while he was away–at least then he would have received a little interest. The servant is punished by having his share of the talents given to the two who faithfully grew their master’s money, leaving him with nothing.
The lesson here should be plainly obvious, and we can express it in a number of different ways: There can be no reward without risk. You must spend money to make money. You reap what you sow. This should resonate with investors, entrepreneurs and any true believer in the power of capitalism.
Jesus’ parable applies not just to individuals but to corporations as well. Companies must grow to keep up with the rising cost of labor and materials and to stay competitive. To do that, they must put their money to work just as the two servants do.
And just as the two servants were invited to share in their master’s success, corporate growth has a multiplier effect–for the company’s employees and their families, shareholders, the local economy, strategic partners, companies up and down the supply chain and much more.
I think the business model that best illustrates the meaning of the “Parable of the Talents” is the one practiced by gold and precious metal royalty companies. As much as Iwrite and talk about royalty companies,I still encounter investors who aren’t aware of how significant a role they play in the mining space.
As a refresher, these firms help finance explorers and producers’ operations by buying royalties or rights to a stream. Becauseminers have had to slash exploration budgetssince the decline in metal prices, the kind of financing royalty companies provide has only grown in demand–as evidenced by the mostly positive earnings reports last week.
Chief among them isFranco-Nevada,which had a very strong third quarter, reporting earnings of $55.3 million, or $0.30 a share, up 3.4 percent from the same three-month period last year. The Toronto-based company, having also recently diversified into the oil royalties space, closed its purchase of an oil royalty for C$92.5 million, bringing the number of its oil and gas assets up to 82. Including precious metals and other minerals, the total number of assets Franco-Nevada had in its diverse portfolio as of the end of the quarter stood at 341.
Here’s the multiplier effect: Not only do the miners benefit from the deals, allowing them to continue exploration and other operations, but shareholders are also rewarded handsomely. Since the company went public nearly 10 years ago, it’s raised its dividend each year and its share price has outperformed both gold and relevant gold equity benchmarks. After its earnings announcement last Monday, Franco-Nevada stock closed up more than 6 percent on the New York Stock Exchange (NYSE), its best one-day performance in nearly a year and a half. Shares hit a fresh all-time high last week.
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Other royalty companies’ reports were just as impressive and show the rewards of putting your “talents” to work. Sandstorm Gold, reporting higher operating cash flow of $11.9 million, has acquired as many as 10 separate royalties since the end of September on properties in Peru, Botswana and South Africa that collectively cover more than 2.4 million acres.
Osisko Gold Royalties bought a $1.1 billion portfolio of 74 precious mineral royalties, including a 9.6 percent diamond stream. The company reported record quarterly gold equivalent ounces (GEOs) of 16,664, up 65 percent from the same quarter last year, and record quarterly revenues from royalties and streams of $26.1 million, up 48 percent.
Royal Gold also had a strong quarter, reporting operating cash flow of $72 million, an increase of 30 percent from last year, and returned as much as $16 million to shareholders in dividends.
Wheaton Precious Metals,the world’s largest precious metal streaming company, showed a sizeable decline in profits in the third quarter, but it continued to generate strong cash flow and looks poised to meet its end-of-year production guidance.
Although some investors might not realize how important these companies are to the industry, many other investors are opting to place their bets on royalty names, seeing them as having ample exposure to precious metals without some of the risks associated with producers. In its review of the third quarter, theWorld Gold Council (WGC)reported that global gold demand fell to an eight-year low as investment in gold ETFs slowed to 18.9 metric tons, down from 144.3 metric tons in last year’s September quarter. This could be a consequence of the media’s continued negative coverage of gold, despite its competitive performance against the S&P 500 Index. Whatever the cause, in this environment, there was no lack of love for royalty names, as you can see in the chart above.
Explore investment opportunities in precious metal royalty companies!
We were one of Wheaton Precious Metals’ seed investors in 2004, when it was then known as Silver Wheaton. Because Franco-Nevada wouldn’t be spun off from Newmont Mining for another three years, Wheaton had first-mover advantage. It was something new, something different. This, coupled with what I recognized as a superior business model, gave me the conviction to allocate capital into the fledgling company, a move that turned out to be highly profitable.
Today I have the same conviction in blockchain technology and digital currencies. As of the end of October, the initial coin offering (ICO) market had raised$3 billion so far this year.That’s more than seven times the amount generated in crowdfunding in all of the previous years before 2017. And Bloomberg just reported that Google searches for “buy bitcoin” recently surpassed searches for “buy gold.”
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With bitcoin’s market cap having grown past that of Goldman Sachs and Morgan Stanley, cryptocurrencies can no longer be written off as a curiosity. Major financial institutions have become bullish, having filed approximately 2,700 patents in blockchain technology.
Abigail Johnson, the youthful chairman of Fidelity, was quoted as saying, “Blockchain technology isn’t just a more efficient way to settle securities, it will fundamentally change market structures, and maybe even the architecture of the internet itself.” Johnson allegedly has a crypto-mining computer rig in her office, and Fidelity accountholders are now able to see their bitcoin holdings on the brokerage firm’s online platform. USAA, the massive financial firm used by millions of U.S. military personnel and their families worldwide, provides a similar service.
This all comes as Coinbase, a leading digital currency broker, saw a record number of people opening new accounts on its platform recently, doubling the number of accounts from the beginning of the year. In one 24-hour period,100,000 new accounts were opened.
A lot of this growth in demand is thanks to millennials, the largest U.S. generation. Forget the stereotype of the “entitled” millennial in the workplace and the misconception that they’re all wasting their money on $10 avocado toast. Consulting firm Deloitte estimates that by 2020, millennials will make up 50 percent of the workforce andcontrol between $19 trillion and $24 trillion.Many are savvy investors and were found to be more likely to be aware of their brokerage account fees than older generations, according to Charles Schwab’s Modern Wealth index.
In some ways, millennials are reshaping our living habits. Many of them choose to rent instead of own to stay mobile. They’re more likely to get their news from Twitter than from TV. Online dating apps have helped foster today’s hookup culture, but while young people now might have more sex partners than before, they’re having less sex overall than their parents or grandparents might have had at their age.
It’s little surprise, then, that millennials are among the earliest and most enthusiastic adopters of blockchain technology, bitcoin and digital currencies in general–none of which existed even 10 years ago. A poll conducted by Blockchain Capital found that large percentages of millennials would prefer $1,000 in bitcoin to $1,000 in other assets. More than a quarter said they would prefer bitcoin to stocks, while nearly a third preferred it to bonds.
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What I find especially encouraging is that only 4 percent of those who took the poll owned or had owned bitcoins. I say encouraging because this suggests there’s quite a lot of upside potential for bitcoin ownership, which in turn could raise prices further. As I shared with you recently, Metcalfe’s law states that the bigger the network of users, the greater that network’s value becomes. Consider Facebook. The social media giant has more than 2 billion active users. That’s 2 billion pairs of eyes Facebook is able to charge top dollar for advertisers to reach, helping it deliver record profits in the third quarter.
We could see the same thing happen across the blockchain and cryptocurrency network as more and more businesses and people embrace this new form of exchange.
It should be clear by now that something is changing in financial markets, and this is what inspired me to make a strategic investment in a company with first-mover advantage in the cryptocurrency space, just as we did with Silver Wheaton years ago. As the “Parable of the Talents” teaches us, no reward can come to you without some risk-taking. Doing nothing is not an option.
That company is HIVE Blockchain Technologies, a blockchain infrastructure company involved in the mining of virgin digital currencies. The first company of its kind to sell shares to the public, HIVE began trading on the TSX Venture Exchange on September 18.
I’m very excited about this new chapter in our company’s history. If you weren’t on today’s earnings call, you candownload the slide deck hereto learn more about our deal with HIVE and what it means for our investors and shareholders.
All opinions expressed and data provided are subject to change without notice. Some of these opinions may not be appropriate to every investor. By clicking the link(s) above, you will be directed to a third-party website(s). U.S. Global Investors does not endorse all information supplied by this/these website(s) and is not responsible for its/their content.
The NYSE Arca Gold Miners Index is a modified market capitalization weighted index comprised of publicly traded companies involved primarily in the mining for gold and silver. The index benchmark value was 500.0 at the close of trading on December 20, 2002. The S&P 500 Stock Index is a widely recognized capitalization-weighted index of 500 common stock prices in U.S. companies.
The Modern Wealth Index tracks how well Americans across the wealth spectrum are planning, managing and engaging with their wealth. Developed in partnership with Koski Research and the Schwab Center for Financial Research, the Modern Wealth Index is based on Schwab’s Investing Principles and composed of 60 financial behaviors and attitudes, each assigned a varying amount of points depending on their importance.
There is no guarantee that the issuers of any securities will declare dividends in the future or that, if declared, will remain at current levels or increase over time.
Frank Holmes has been appointed non-executive chairman of the Board of Directors of HIVE Blockchain Technologies. Both Mr. Holmes and U.S. Global Investors own shares of HIVE, directly and indirectly.
Holdings may change daily. Holdings are reported as of the most recent quarter-end. The following securities mentioned in the article were held by one or more accounts managed by U.S. Global Investors as of 09/30/2017: Franco-Nevada Corp., Royal Gold Inc., Osisko Gold Royalties Ltd., Sandstorm Gold Ltd., Wheaton Precious Metals Corp., Newmont Mining Corp.
TheUS Global GO Gold and Precious Metal Miners ETF (GOAU)was trading at $12.27 per share on Monday afternoon, down $0.07 (-0.57%). Year-to-date, GOAU has gained 1.49%, versus a 16.67% rise in the benchmark S&P 500 index during the same period.
GOAUcurrently has anETF Daily News SMART GradeofNR (Not Rated), and is unranked among 35 ETFs in thePrecious Metals ETFscategory.
Frank Holmesis the CEO and chief investment officer of U.S. Global Investors. Mr. Holmes purchased a controlling interest in U.S. Global Investors in 1989 and became the firm’s chief investment officer in 1999. In 2006, Mr. Holmes was selected mining fund manager of the year by the Mining Journal, and in 2011 he was named a U.S. Metals and Mining “TopGun” by Brendan Wood International. He is also the co-author of The Goldwatcher: Demystifying Gold Investing. More than 30,000 subscribers follow his weekly commentary in the award-winning Investor Alert newsletter which is read in over 180 countries. || Bitcoin exchange Bithumb says 'right' regulations in South Korea would boost market: By Cynthia Kim SEOUL (Reuters) - The Seoul-based operator of the world's busiest virtual currency exchange Bithumb said on Tuesday it will fully comply with potential regulations from the South Korean government and adequately capitalize itself to protect its clients. BTC Korea.Com Co. also told Reuters it will "actively cooperate to build a right set of rules", which may include steps such as properly identifying its clients by their real names. "A right set of regulations will rather nurture the (virtual currency) market, and we would welcome that,” Bithumb said in an email reply to questions from Reuters, adding that such a code of conduct could add legitimacy to the market. Currently, anyone with a mobile phone in their name and a bank account can sign up and trade via Bithumb. The comments came a day after bitcoin hit a record high of $17,270 on the Luxembourg-based Bitstamp exchange, despite questions about the cryptocurrency's real value and worries about a dangerous bubble. Though it was the world's top operator of virtual currencies in November by trading volume and South Korea is among the world's biggest bitcoin markets, BTC Korea.Com has maintained a low profile since the launch of Bithumb in 2014 and there is little public information about it. Drawn by bitcoin's explosive surge of more than 15-fold this year, ordinary South Koreans from housewives to college students and office workers have rushed to mobile-app based virtual currency exchanges such as Bithumb hoping to make a quick profit, despite warnings from the government. After bitcoin prices soared 21 percent in one week last month, Prime Minister Lee Nak-yeon said it was time for the government to take action as "some serious pathological phenomenon" could arise if left unchecked. The finance minister said on Monday that ministries are in talks to decide whether such trading should be regulated, while the chief of the financial regulator said some Justice Ministry officials are calling for an outright ban on cryptocurrency trading, although nothing has been decided yet in terms of regulating the market. Story continues BITCOIN BOOM "IRREVERSIBLE"? South Korea accounted for 15 percent of global bitcoin trading in the past 24 hours on exchanges that charge fees, according to Coinmarketcap.com. That is way above the size of its economy at about 2 percent of global output. On some days, daily bitcoin volume has surpassed that of the nation's small-cap Kosdaq share index, which has a market value of 271 trillion won ($248.6 billion), according to the government. Bithumb has been at the center of the speculative frenzy. With about 70 percent of market share in South Korea, it has been the dominant place that ordinary South Koreans go to buy and sell the virtual currency. Given that most of South Korea's casinos are for visiting foreigners only, a pent-up appetite for gambling has probably played a part in the bitcoin mania, says Park Nok-sun, a cryptocurrency analyst at NH Investment & Securities. "The fact that anyone can start trading with small money and the lack of volatile betting places helped the market to go viral in Korea," Park said. Headquartered in Seoul's posh Gangnam district, BTC Korea.Com has disclosed little about its trading platform Bithumb or its founder Kim Dae-shik. Asked if looming regulations would curb the boom, the company said "the trend would be irreversible, and we see money flowing into the virtual currency market from stock markets." Shim Mi-yeon, a 36-year old Pilates instructor and a Bithumb user in Seoul, says she is not afraid of regulations. "China imposed some heavy regulations but bitcoins still surged right? South Korea is a much smaller country and I think the market can withstand a regulatory crackdown in the long run," she said, as she checked the latest prices on her phone. The company cautions against speculative behavior. In a pop-up message on its website, Bithumb advised its customers against "unreasonable investments" as virtual currency trading is not a marketplace of currencies guaranteed by the government. Kim Yong-beom, vice chairman of the Financial Service Commission, on Monday described virtual currency trading as a "Ponzi" scheme. "We will continue to ban financial institutions from dealing with cryptocurrency-related products. The reason why prices go up is because they expect the next person to take (the coin) at the price they want, and that really is a Ponzi scheme." ($1 = 1,090.0000 won) (Reporting by Cynthia Kim; Additional reporting by Dahee Kim; Editing by Kim Coghill)
[Random Sample of Social Media Buzz (last 60 days)]
I used to like the Lamborghini Aventador but Bitcoin has killed all desire in me to ever own one. || こんばんは。 bitcoin priceという || Tiffany Haddishちゃんが || bitcoin priceってゆうか、 || German Parcel Bomber Issued €10 Million Bitcoin Blackmail Demand | BitCoin trends news Bitcoin Trending - https://btctrending.com/2017/12/08/german-parcel-bomber-issued-e10-million-bitcoin-blackmail-demand-bitcoin-trends-news/ …pic.twitter.com/Nz5Yb9P2s4 || こんばんは。 bitcoin priceという || なぜ！なぜいっしょに下げるのw
あれほどまでに見事なまでにミラー映しのように反対の動きをしていたのにw
#BCH #BTC || 1 KOBO = 0.00000350 BTC
= 0.0531 USD
= 18.9567 NGN
= 0.6642 ZAR
= 5.4560 KES
#Kobocoin 2017-12-26 18:00 || Movimientos frenéticos en el bitcoin a las puertas de su debut en Chicago http://www.expansion.com/mercados/2017/12/08/5a2b0af946163f4b298b464b.html … || The gift that keeps on giving~ #Bitcoin
|
Trend: down || Prices: 17429.50, 17527.00, 16477.60, 15170.10, 14595.40, 14973.30, 13405.80, 13980.60, 14360.20, 13772.00
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Analyze the provided historical prices, technical indicators, news, and social media sentiment from the last 60 days. Based on this context, predict the overall trend (up, down, or no change) and the specific daily closing prices for Bitcoin for the next 10 days.
|
[Technical Analysis]
Not fully available.
[Random Sample of News (last 60 days)]
Bayside Corp. Announces The International Launch Of Vault 51 In Japan: DALLAS, TX / ACCESSWIRE / March 10, 2015 /Bayside Corp. (BYSD) today announced through its subsidiary company Bitcoinz USA, the official launch of Vault 51, a secure offline storage for Bitcoin is now available to all consumers in Japan. Furthermore, Bitcoinz USA is now offering Bitcoin for sale to consumers in Japan through the Vault 51 website.
Moreover, it was just over a year ago that Mt. Gox; a major Japanese Bitcoin exchange went bankrupt. The multi-million dollar collapse of Mt. Gox highlighted the urgent need for all Bitcoin consumers worldwide to have a secure way to protect their Bitcoin. As a result, Vault 51 was developed in response to this growing worldwide market demand.
"We are very pleased to be able to roll out Vault 51 and the sale of Bticoin to consumers in Japan. As we continue to move forward to help meet the growing demand of protecting Bitcoin worldwide, Bitcoinz USA is of the belief that Japan can one day serve as a major Bitcoin hub for the buying and selling of Bitcoin." -JW Walker President Bitcoinz USA.
Vault 51 is an offline storage system for Bitcoin users, which is represented by a Physical Bitcoin. The electronic Bitcoin is then stored off-line in a secured computer chip known as Vault 51 and embedded in a Physical Bitcoin, which is not connected to the internet. This process is also known as cold storage and is done to avoid hacking, loss, or theft.
-Official Vault 51 Website-Official Facebook Page-Official Google Plus Page-Official Twitter Page
About Bayside
Bayside Corp. is an American multinational corporation that manages multiple subsidiary companies engaged in a variety of business industries and sectors. At Bayside Corp. we believe that the future is now and that our efforts today will have a long lasting impact for generations to come. For additional information on the Company visit our website at:http://www.baysidecorp.com.
Certain statements in this news release constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" All forward-looking statements are based on Bayside's current expectations, estimates, projections, beliefs and assumptions based on information available at the time the statement was made and in light of Bayside's experience and its perception of historical trends.
The forward-looking statement in this news release includes reference to: Bayside's ability to execute on its strategy and deliver strong results on behalf of its shareholders. Forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties; some that are similar to other related companies and some that are unique to our company. Bayside's actual results may differ materially from those expressed or implied by our forward-looking statements and you are cautioned not to place undue reliance on them.
SOURCE:Bayside Corp. || Bitcoin Gets A Makeover: Scandals like the Silk Road trials and the Mt. Gox exchange collapse have severely damaged the publics 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 bitcoins 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 campaigns 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 bitcoins 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. || Is Bitcoin The Next Internet?: The Bank of England is comparing digital currencies like bitcoin to the technological revolution that the internet provided decades ago, suggesting that bitcoin’s fall from grace could be temporary.
In itsOne Bank Research Agenda, the Bank of England touted the benefits that digital currencies could provide and even suggested the possibility of a BOE created cryptocurrency pegged against the pound.
A New Way To Bank
The research noted that a switch toward mobile technology was likely to continue promoting the idea of digital currency, and that it could be in the bank’s best interest to investigate how the introduction of cryptocurrencies would affect traditional banking.
While the BOE is still skeptical bout the security risks associated with developing a digital currency, banking officials have not ruled out the possibility, saying that digital currencies could become the new norm for banking much like the internet replaced the way the world accessed information.
Related Link:Bitcoin Gets A Makeover
England Isn’t The Only Nation Looking In To Digital Currencies
The BOE is not the first major central bank to discuss the use of a digital currency. Greek Finance Minister Yanis Varoufakis has mentioned that the technology behind bitcoin could be effectively applied to the eurozone as a weapon against deflation.
In Ecuador, the government has already introduced its own digital currency pegged to the dollar in an effort to help citizens who don’t have access to traditional banking.
Economists in the U.S. have also discussed the possibility of rolling out a government-backed digital currency as online payments become more popular.
See more from Benzinga
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Is Bitcoin Speculative Foolery or a Financial Services Breakthrough?: While the Internet-based currency Bitcoin has been a big headline-grabber, I have always considered it to be more speculative foolery than transformative technology. But one of my fellow CNBC contributors,Brian Kelly-- a Bitcoin authority and author of the new book,The Bitcoin Big Bang-- convinced me to learn a bit more about it.
While I haven’t become a full-fledged Bitcoin believer, in speaking with Kelly and reading his book, I have come to appreciate the applications for the technology and believe that it may be useful in the future.
Here is some of what he says makes bitcoin a breakthrough for financial services and why he thinks that it is something that small business should pay more attention to.
Related:Why Shark Tank's 'Mr. Wonderful' Thinks Women Make Better CEOs
Roth: I’ve always thought that Bitcoin is a fad that will end badly. What am I missing?Kelly:The biggest thing that people miss is that Bitcoin is more than just a currency. There are two parts: Bitcoin with a small 'b' is the currency, while Bitcoin with a big 'B' is the revolutionary technology also known as “the blockchain.” The blockchain technology allows value transfer between two unknown parties without the use of a middleman -- this is the first time in the history of money that this has happened.
So, if the technology is the important part of bitcoin, how do you think Bitcoin will be embraced and used differently in the future?In my view, the Bitcoin technology will be the backbone of the financial system. People may be using Bitcoin and may not even realize it since it will simply be the infrastructure that the financial system runs on.
Do you think that small businesses can benefit from using bitcoin? If so, how?The small-business angle currently is a cost play. For example, with a company like BitPay, a small business that accepts bitcoin may be able to save $3,000 a month for every $100,000 in sales versus traditional payment systems, such as Visa, Mastercard, Paypal, Square, etc.
You also say that bitcoin helps facilitate the globalization of small businesses. Can you speak more about that?Think about global small-business use in the context of international wire transfers. For example, I have a few contractors that reside in Switzerland and the United Kingdom. In order to pay their invoices, I would typically go to the bank, spend 30 minutes filling out paperwork, pay a big fee for the wire transfer and wait all day for confirmation. Additionally, there is a cost for the foreign currency exchange.
Related:Why Smart People Make Bad Entrepreneurs
Instead, now I pay in bitcoin. It costs me nothing, it arrives in seconds and there are no FX translation costs.
Bitcoin effectively removes the challenges of transacting business in differing currencies and allows for quick transactions that are lower in cost.
If a small business wants to get started using Bitcoin, what should it do first?The easiest way for a small business to start using Bitcoin is through a payment processor like Coinbase or BitPay. Coinbase has a very easy, user friendly button for websites; it is similar to adding a PayPal button to your website.
If you need an enterprise-level solution, then BitPay is a great choice; they can integrate with your current accounting system. BitPay just signed a deal with Microsoft to provide a bitcoin payment option.
What risks are there for small businesses using bitcoin?Right now, the biggest risk is the currency fluctuation, but most payment processors offer an immediate conversion to fiat (meaning a local currency, such as the U.S. dollar) which eliminates that risk. While I believe Bitcoin is not going away, entrepreneurs need to keep in mind that it is an emerging technology and just like the earlier Internet, it is bound to have a few hiccups.
Related:Never Hire a Honey Badger || SolarEdge files for $125M IPO on the back of growth of solar gear: Nine-year-old Israeli startupSolarEdgeis planning on raising $125 million in an IPO,according to a filing with the U.S. Securities and Exchange Commission on Wednesday. The company, which plans to trade on the NASDAQ under symbol SEDG, makes electronics and inverters that can monitor and optimize the energy from solar panels.
Inverters convert the direct current generated by solar panels into alternating current that feeds into the grid or is used by the building or onsite, and they are necessary for a solar panel system to operate. Traditional solar panel systems commonly use a centralized inverter to convert the collective energy from the system, but a growing amount of next-generation inverter companies, like SolarEdge, are making systems that convert and optimize the energy from each individual panel of the system.
Now that the cost of solar panels is cheaper than ever, solar companies are highly focused on squeezing as much efficiency out of panels and systems as possible. Gear like the kind SolarEdge produces can boost each individual panel to its maximum output, no matter if other panels in the system have become shaded, dirty or just aren’t operating effectively.
SolarEdge, which is run by co-founder Guy Sella, sells its devices to installer companies like SolarCity, which made up 19 percent of SolarEdge’s revenue in 2014. To date the company has sold 4.5 million of its power optimizers and a little over 200,000 of its inverters. About 1.5 million of those power optimizers were shipped in the second half of 2014.
The growth of the overall solar market means growth in SolarEdge’s sales. For the full year 2014, SolarEdge generated $133.22 million in revenue, up from $79.04 million in 2013. The company employs close to 300 people, and works with contractors (Flextronics and Jabil Circuit) to manufacturer its gear.
But the solar gear market is difficult, competitive, and a relatively low-margin business. SolarEdge lost $21.38 million for the year 2014, which was a smaller loss than the $28.18 million it lost in 2013. The company has yet to turn a profit over its existence (shipping product since 2010) and has accumulated a deficit of $135.2 million as of December 31, 2014. The funding will likely be used to expand its sales significantly and pay off some of its debts.
SolarEdge has also previously raised many tens of millions of dollars in equity (series A to E) and debt from investors includingOpus Capital Venture Partners, ORR Partners,Genesis Partners, Pacven Walden Ventures, Vertex, Norwest Venture Partners and Lightspeed Venture Partners.
Image copyrightAndreas Demmelbauer/Flickr.
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• Katy Perry lawyers try again, file trademark claim for Left Shark || Greek Debt Talks Nearing An End: After months of negotiations between the EU and Greek officials, it seems that the talks regarding Greece's bailout package are nearing their end, for better or worse. Although it has been a bumpy road, most believe that the two sides will reach an agreement before April 20, when Athens is expected to run out of cash. Strained Relationship Greek Prime Minister Alexis Tsipras said Monday that he was looking to compromise with the EU and the IMF on the terms of Greece's bailout cash, but that the nation would not agree to an "unconditional" deal. Greek creditors have been reluctant to accept Tsipras' proposals as they are said to lack detail and don't show enough commitment to economic reform. Since taking office, Tsipras has reversed several of the austerity measures that Athens agreed to in order to get bailout money in the past, making his relationship with Germany, which has footed most of the bill, rocky. Grexit Still On The Table? If the two sides don't agree in the coming days, a Greek exit from the eurozone could still be a possibility. While most don't expect such an extreme outcome, some believe a Grexit wouldn't spell disaster for the bloc. Warren Buffett commented on Tuesday that a Grexit might be a step forward for the eurozone. In his view, the region's fiscal policies have become somewhat of a joke and refusing Athens money if it doesn't comply with its bailout terms could draw a line in the sand. Related Link: ECB QE Seems To Be Working... Deal Likely However, most are expecting that the two sides will reach an agreement as it would be in both the EU and Athens' best interest to keep Greece afloat. Greece's Minister of Economy George Stathakis said Wednesday that he sees a deal being announced next week. He said the nation is working to amend some of its austerity measures, but is still willing to make necessary changes in order to satisfy its creditors. See more from Benzinga Rakuten Brings Bitcoin On Board Marijuana Bill Gains Momentum In Congress Yoox Merger With Net-a-Porter Creates A Force To Be Reckoned With © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin Makes Its Way To The Polls: The technology that powers bitcoin, blockchain, has been hailed by many as one of the greatest technological advances of the decade.
Although bitcoin is still struggling to take hold as a mainstream currency, uses for the ledger-like technology of blockchain are already being explored for everything from creating contracts to holding online auctions.
The Bitcoin Foundation is hoping to draw even more attention to blockchain capabilities by partnering with Swarm, a crowdfunding firm, touse blockchain technology to votein two new board members.
An Experiment
The process will be the first time a vote has taken place using blockchain technology, and Bitcoin Foundation Executive Director Patrick Murck warned that there will likely be a few hiccups along the way.
Voters will be provided with "yes" and "no" coins which they can send to each candidate's wallet to express their choice.
Critics Say System Is Flawed
Since the voting began, there has been aheated discussionas to whether or not blockchain is effective when it comes to voting.
Many worry that miners will be able to manipulate the system by filtering out coins from one candidate or another, while others complained that about the system being difficult to use.
Related Link:Is Bitcoin The Next Internet?
An Important Venture
Despite criticism, the Bitcoin Foundation is pressing ahead and is set to close the voting platform on February 28 and release results on March 1.
Murck defended the foundation's decision to press on with blockchain voting, saying that the complaints about the system were important if developers want to continue pushing blockchain into new industries.
Although the first blockchain-based vote may not be a success, Murck says it is an important step for the technology's forward momentum.
See more from Benzinga
• Will 3D Printing Be A Part Of The Future?
• Retailers Quickly Find Use For Influx Of Consumer Cash
• Internet Regulation Vote Unlikely To End Net Neutrality Fight
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 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 at www.coinoutletatm.com and investor information is at angel.co/coinoutlet-2 || This App Pays You in Bitcoin Based on the Intensity of Your Workout: The Fitcoin app in action (Alyssa Bereznak/Yahoo Tech). AUSTIN, Texas If the 21st-century tabloid celebrity has taught us anything, its that having a hot body can pay off. Now, a tech studio has interpreted that modern-day lesson quite literally, in the form of an app that rewards you with Bitcoin, based on how hard you work on the treadmill. The technology, cleverly named Fitcoin , is the creation of Chaotic Moon Studios , an Austin-based design company thats known for pulling stunts during the citys annual South by Southwest festival . Last year, for instance, designers at the lab programmed a drone to shock one of their interns with a stun gun. It works like this: After creating an account for your Bitcoin repository, you download the iOS Fitcoin app, enter in your basic information, and sync it to your fitness tracker. Currently, Fitcoin only works with fitness trackers that both measure heart rate and offer public access to their software. These requirements reduce your tracker choices down to just three wearables: t he Mio heart-rate monitor , the much anticipated Jawbone UP3 , and a new Austin-based fitness tracker called Atlas . When you sync your band to the Fitcoin app and start your workout, itll automatically begin recording the length of your activity and the level of your heart rate. The algorithm within the app then triangulates those stats to determine how much energy youre expending, and ultimately, how much thats worth in Bitcoin. Related: What Is Bitcoin, and Why Do So Many People Prefer It? Its a really interesting platform play application and service layer, Ali Madad, the Chaotic Moon Studios creative director, said during a demonstration. [Its] accessible. Its not about cypherpunks or overthrowing the government. Its something that you would use every day. How much is your average workout worth in Bitcoin? During a demo at the Chaotic Moon offices on Saturday afternoon, designer Grant Nicol hopped on a treadmill and worked his heart rate up to an even 115 beats per minute. He wore a Mio band on his wrist, and one of Chaotic Moons decidedly Health Goth Fitcoin T-shirts. Story continues After spending about three minutes and 40 seconds running, Madad directed us to the app displayed on Nicols iPhone to see how much hed made. In three minutes and 40 seconds, hed amassed about 5 cents. Chaotic Moons Grant Nicol, demonstrating the Fitcoin app at the Chaotic Moon studios. (Alyssa Bereznak/Yahoo Tech). Those measly 5 cents, of course, come from a stash of Bitcoin that Chaotic Moon Studios bought to test the Fitcoin app internally. The studios team had just three months to develop the concept partially inspired by an episode of Black Mirror and its still only being tested by members of the team. Ultimately, Chad Derbyshire, director of marketing at Chaotic Moon Studios, hopes that Fitcoin will be used to form its own breed of cryptocurrency a type of online money that has allowed for such offshoots as Coinye (formerly known as Coinye West) and Dogecoin . He imagines that individual companies could award dedicated athletes with their own digital money, based on their fitness achievements. My insurance is deducted from my bank account every month, same amount of money, he told Yahoo Tech. But if I have a certain level of activity, maybe its redefined. What if it goes down? Specifically, Derbyshire imagines that this technology would be particularly attractive to one client of the studio: Adidas. He imagines that the fitness apparel company could offer special access to merchandise that you could only purchase with the cryptocurrency you earn using the Fitcoin app. Adidas can say: These are proprietary shoes that only Bitcoin users, or only Fitcoin users, or only AdidasCoin users can get based on this currency. So, beware: Kanye West could very well make you sweat for his next line of limited-edition sneakers . Follow Alyssa Bereznak on Twitter , or email her . || Bitcoin And Tax Season: What You Should Know: Though bitcoin has had a volatile year, the cryptocurrency’s popularity is still growing quickly as more and more users create digital wallets to buy and sell the currency.
However with tax season on the horizon, questions regarding the Internal Revenue Services’ treatment of bitcoin are beginning to arise.
A Complicated Affair
Instead of recognizing bitcoin as a foreign currency, tax rules separate bitcoins which have been mined from those that have been bought as different assets.
For investors who bought their bitcoins, the cryptocurrency is considered property and taxed as such.Mined bitcoinsare taxed based on the gains or losses the miner realizes when the currency is sold.
So miners holding on to their bitcoins wouldn’t have to pay any taxes until they sold their currency.
Paper Trail
The IRS regulations are increasingly more complicated because they require bitcoin holders to havea record of their transactions.
Since bitcoins are treated as property under current tax law, owners will need details as to where and when the currency was purchased in order to state its value.
Additionally, if a person then uses those bitcoins to make a purchase, they will need to track the value at the time of sale.
Related Link:Bitcoin Integration Gets Easier
The Beginning Of A New Era
While this year’s tax laws may seem confusing, many expect to see things get even trickier in the years to come.
Since bitcoin has only just emerged as a viable currency, it will take time for the government to catch up with tax rules.
If the currency becomes widely popular in the coming years, the IRS will probably streamline its tax rules to make it easier for bitcoin users to declare their earnings, but that day is likely a long way off.
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© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
[Random Sample of Social Media Buzz (last 60 days)]
$226.20 at 07:30 UTC [24h Range: $220.96 - $231.00 Volume: 13889 BTC] || In the last 10 mins, there were arb opps spanning 18 exchange pair(s), yielding profits ranging between $0.00 and $258.57 #bitcoin #btc || In the last 10 mins, there were arb opps spanning 18 exchange pair(s), yielding profits ranging between $0.00 and $180.33 #bitcoin #btc || One Bitcoin now worth $274.93@bitstamp. High $277.00. Low $255.61. Market Cap $ 3.821 Billion #bitcoin pic.twitter.com/S15wbhuHyL || Current price: 143.85£ $BTCGBP $btc #bitcoin 2015-02-12 10:00:05 GMT || LIVE: Profit = $67.12 (1.51 %). BUY B18.10 @ $244.00 (#BTCe). SELL @ $247.49 (#CampBx) #bitcoin #btc - http://www.projectcoin.org || BTCTurk 724.39 TL BTCe 285.999 $ CampBx 300.00 $ BitStamp 287.12 $ Cavirtex 275 $ CEXIO 285.48 $ Bitcoin.de 268.95 € #Bitcoin #btc || $247.36 at 00:45 UTC [24h Range: $244.00 - $247.80 Volume: 3154 BTC] || $216.34 at 14:15 UTC [24h Range: $215.00 - $223.00 Volume: 11630 BTC] || Bitfinex Prices
LAST: $241.69
BID: $241.00
ASK: $241.42
VOL: 59003.01 BTC
http://bit.ly/Cryptoticks
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Trend: down || Prices: 253.70, 260.60, 255.49, 253.18, 245.02, 243.68, 236.07, 236.55, 236.15, 224.59
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